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Home My WebLink AboutEver Vail Title Reports Land Title Guarantee Company � CUSTOM�R DISTRIBUTION Land Title WMAMEL GOMYANC Date: 04-01-2009 Our Order Number: VTF50025359 Property Address: 1000 S.FRONTAGE ROAD; AKA LOT 54 GLEN LYON SUB i � Ilyou have any Inqu/rles or requlre lurther assistance,please contact oae o!die numbers below: I For Title Aaststance: i Vall Titic"VTF"Unit � 106 S FRONTAGE RD W#203 1 VAIT.,CO 81657 • � _ Rhone:870-�76-2251 ' Fex: 970-�76-4T32 � VAIL ASSOCIATES,INC.,A COLO CORP PD BOX� ` VAD,,CO 81658 � Aun: DL4NE MAURIELLO i I Phone: 970-89&2658 I Fax: 970-845-2555 Coples:1 � EMall:dmauriello@vailresorts.eom,gerrya@vapresor Linked Commitmcnt Delfvery � � i i � 1 Land Title Guarantee Company DaEe: 04-01-2009 l.and TItle pttr Order Number: VTF50025359 cu,uwtNit[coM►�xr Property Address: 1000 S.FRONTAGE ROAD;AKA LOT 54 GLEN LYON SUB B�yerBorrower: TBD � 5eller/Owner: � THE GLEN LYON OFFICE BUILDIIVG,A COLORADO GENERAL PARTNERSHIP i � Nced a map or direcdons for your upcoming clostng?Check out Land Title's weh site at wtivw.ltgc.com for dlrections to an of ow 54 offEce locations. ESTIMATE OF TITLE FEES � ALTA Owners Policy 06-17-06 �D � If Land Tttlo�az�atee Cwqosny v322 be cloaing tJ�ia tranaactioa, abow feea rill be co23ected at kbat t�me. TOTAL $0.00 I_ r...cowr�,er os�s� • THANK YOU FOR YOUR ORDHRI i � . I �... i � Ch[cago T1ife Insurance Company ALTA COMMITMENT Our Order No. VTF50025359 SchedWe A Cust. Ref.: I Property Address: � 1000 S. FRONTAGE ROAD;AKA LOT 54 GLEN LYON SUB � � � 1. EffecUve Date: March 24, 2009 at 5:00 P.M. � � 2. PolIcy to 6e Issued, and Proposed Insured; � "ALTA" Owner's Policy 06-17-06 , Proposed Insured: TBD � � 3. The estate or Interest in the land described or referred to In tlds Commitment and covered herefn!s: A Fee Simpte 4. Title to ihe estate or interest rnvered herein is at the effective date hereof vested 3n: THE GLEN LYON OFFICE BUILDING,A COLORADO GENERAL PARTNERSHIP 5. The Land referred to in this Commitruent is described as foIlo�vs: LOT 54, GLEN LYON SUBDIVISION,ACCORDING TO THE AMENDED PLAT THEREOF RECORDED i JULY 18, 1978 IN BOOK 272 AT PAGE 370, COUNTY OF EAGLE, STATE OF COLORADO. i � �_ � ALTA COMMITMENT Schedule B-SecUon 1 (Requirements) Our Order No. VTF50025359 I f The fouowing are the require�nents to be co�npTied wjlIt: j � � ltem (a)Payment to or for tl�e account of the grantors or mortgagors of the fuII consideration for the estate or � interest to be insured. � t Ilem(b)Proper fnstrument(s)creattng the estate or Interest to be insured must be executed and duly fded for record, i to-w1t: I Item(c)Payment of a11 taxes, charges or assessments Ievled and assessed agaInst the subject premises which are due � and payable. � Item (d)Additlonal requirements,if any disclosed below: } 1 1. EVIDENCE SAT3SFACTORY TO THE COMPANY THAT THE TERM3, CONDITIONS AND � PROVISIONS OF THE TOWN OF VAIL TRAIVSFER TAX HAVE BEEN SATISFIED. � 2. RELEASE OF DEED OF TRUST DATED JUNE 29, 2001 FROM THE GLEN LYON OFFICE � BUILDING,A COLORADO GENERAL PARTNERSHIP TO THE PUBLIC TRUSTEE C?F EAGLE . COUNTY FOR THE USE�F FIRSTBANK OF VA1L TO SECURE THE SUM OF$2,000,000.00 RECORDED JULY 03, 2001, UNDER RECEPTION N0. 761173. � MODIFICATION OF DEED OF TRUST WAS RECORDED NOVEMBER 07, 2003 UNDER RECEPTION N0. 856911. 3. A FULL C�PY OF THE PARTNERSHIP AGREEMENT AGREEMENT AND ANY AND ALL � AMENDMENTS THERETO FOR THE GLEN LYON OFFICE BUILDING, A COLORADO GENERAL PARTNBRSHIP MUST BE FURNISHED TO LAND TITLE GUARANTEE COMPANY. SAID ` AGREEMENT MUST DISCLOSE WH�MAY CONVEY,ACQUIRE, ENCUMBER, LEAS�OR OTHERWISE DEAL WIT'H INTERESTS IN REAL PROPERTY�'OR SAID ENTITY. NOTE:ADDITIONAL REQUIREMENTS MAY BE NECESSARY UPaN REVIEW OF THIS DOCUMENTATION. 4. CERTIFICATE OF GOOD STANDING OF THE GLEN LY�N OFFICE BUILDING,A COLORADO GENERAL PARTNERSHII', ISSUED BY THE SECRETARY OF STA7E OF COLQRqDO. NOTE:5AID GENERAL PARTNERSHIP IS CURRENTLY NOT LI3TED SAiD SECRETARY OF STATE R$CORDS. . E � 5. WARRANTY DEED FROM THE GLEN LYON OFFICE BUILDING, A COLORADO GENERAL PARTNERSHIP TO TBD CONVEYING SUBJECT PROPERTY. ' tJ i I I � ALTA COMMITMENT Schedule B-Section 2 (Exceptlons) Our Order No. VTF50025359 The pollry or poIicfes to bc lssued wlll contain excepttons to the follotving unless the same are dtsposed of to the saHsfacUon of the Company: 1. Any facts, rights,intetests, or claims thereof, not sl�own by the Public Records but thai could be ascertained by an j inspectlon of the Land or that may be asseRed by persons in possession of the Land. � 1 2. Easements,lieus or encumbrances, or claims thereof, not sho�vn by the Pub1Ic Records. � ' i 3. Any encroachment,encumbrance, violation,variation,or adverse circumstance affecUng ilie Titte U�at wouid be i dlsclosed by an accurate and complete Iand survey of the Land and not shown by the Public Records. 4. Any tien,or right to a Iien,for services, labor or malerlal heretofore or hereafter furnished, imposed by law and not shown by the Public Records. . I 5. Defects,liens, encumbrances,adverse claims or other matters,lf any, created, 8rst appearing in the pubJic records j or altaching subsequent to tlye ef�'ecUve date hereof but prtor to the date che proposed insured acqulres of record � for value the eslate or inlerest or inortgage��ereon covered by this Commitment. � 6. (a)Taxes or assessments thaE are not shown as existing ltens by the records of any taxing authority that levies taxes � or assessments on real property or by the Public Records; (b)proceedings by a pubJic agency that may result 9n taxes ` or assessments,or notices of such proceedings, wliether or not shown by the records of such agency or by the Public � Records. ?. (a)Unpatenled mining claims; (b) reservatlons or excepUons!n patents or in Acts autltorizing the issuance thereof; ; (c)water rights, claims or titte to�vater,wheiher or not the rnatters excepted under(a), (b), or (c) are shown by t the Public Records. , 8. EXISITNG LEASES AND TEIVANCIES, IF ANY. 9. RIGHT OF PROPRIETOR OF A VEIN OR LODE TO EXTRACT AND REMOVE HIS ORE TNEREFROM SHOULD THE SAME SE FOUND TO PENETRATE OR INTERSECT THE PREMISES AS RESERVED IN UNITED STATES PATENT RECORDED AUGUST 16, 1909, IN BOOK 48 f AT PAGE 542. � � 10. RICHT OF WAY FOR DITCHES OR CANALS CONSTRUCTED BY THE AUTHORITY OF THE � UNTTED STATFS AS RESERVED IN UNITED STATES PATENT RECORDED AUGUST 16, � 1909,IN BOOK 48 AT PAGE 542. 11. RESERVATION AS TO THE NORTHWEST I/4 OF SECTION 12 TOWNSHIP 5 SOUTH, RAIVGE 81 WEST OF THE RIGHT OF WAY OF THE UNITED STATES,TTS PERMITTEE OR LICENSEE,TO ENTER UPON, OCCUPY AND USE ANY PART OR ALL OF SAID LAND FOR THE PURPQSFS PROVIDED IN THE ACT OF JUNE I0, I920 (4I SAT. ]063)AS RESERVED IN THE PATENT RECORDED OCTOBER 2, 1946 IN BOOK I32 AT PAGE 405. i � ! i i I � ALTA COMMITMEN.T Schedule B-Section 2 (Exccptions) Our Order No. VTF50025359 The pollcy or pollcies to be issned wllI contatn exceptions to the following unless the same are disposed of to the sadsfaction of the Company: i i 12. RESTRICTNE COVENANTS WHICH DO NOT CONTAIN A FORFEITURE OR REVERTER CLAUSE, � BUT OMITTING ANY COVENANTS OR RESTRICT70NS, IF ANY, BASED UPON RACE, COLOR,RELIGION,SEX, SEXUAL ORIENTATION, FAMILIAL STATUS,MARITAL STATUS, DISABILTI"Y,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 CONTAINEp � IN INSTRUMENT RECORDED APRIL 09, 1978, IN BOOK 268 AT PAGE 698 AND AS � AMENDED IN]NS'I'RUMENT RECORDED AUGUST 25, 1987, IN BOOK 468 AT PAGE 497 THROUGH 472 AND AS RERECORbED IN INSTRUMENT RECORDED SEPTEMBER 15, 1987 IN BOOK 969 AT PAGE SOl,AND AS AMEIJDED IN INSTRUMENT RECORDED MAY 2, 1990 IN BOOK 528 AT PAGE 154 AND AS AMENDED IN INSTRUMENT RECORDED SEPTEMBER 20, ' 2007 UNDER RECEPTION N0. 200725244. � 13. EASEMENTS,COIVDITIOIYS, COVENANTS, RESTRICTIONS, RESERVATIONS AND NOTES ON THE AMENDED PLAT OF GLEN LYON SUBDIVISIOIJ RECORDED JULY 18, 1978 IN BOOK 272 AT PAGE 370. � 14. RIGHTS AND EASEMENTS FO�t NAVIGATION AND FISHERY W FAVOR OF THE PUBLIC i WHICH MAY EXIST OVER THAT PORTION OF SAID LAND LYING BENEATH THE WATERS OF � GORE CREEK. . � 15, EASEMENT AND RIGHT OF WAY FOR CONSTRUCTION AND MAINTENANCE OF AN ELECTRIC SYSTEM,AS GRANTED TO HOLY CROSS ELECTftIC AS50CIATION BY GORE CREEK ASSOCIATES,DV THE INSTRUMENT RECORDED APRIL 24, 19T8 IN BOOK 269 AT PAGE 277. 16. UTILITY EASEMENT AS GRANTED TO HOLY CROSS ELECTRIC ASSOClATI01V, INC., IN INSTRUMENT RECORDED MAY 19, 1989,IN BOOK 506 AT PAGE 676. 17. UTILITY EASEMENT AS GRANTED TO UPPER EAGLE VALLEX CONSOLIDATED SANITATION DISTRICT AND VAIL VALLEY CONSOLIDATED WATER p1STitICT IN INSTRUMENT RECORDED JUNE O7, 1989, IN BOOK 507 AT PAGE 692. 18. U17LITY EASEMENT AS GRANTED TO THE TOWN OF VAIL IN INSTRUMEIVT RECORDED JUNE 7, l990IN BOOK 530 AT PAGE 962. 19. UTILITY EASEMENT AS GRANTED TO UPPER EAGLE VALLEY CONSOLIDATED SANJTATION I 1 . � .. i � ALTA COMMITMENT Scl�edule B-SecUon 2 (Exceptlons) Our Order No. VT'F50025359 The policy or pollcles to be lssued�vill contain exceptions to the foIlowing unless the same are disposed of to the saHsfactton of the Company: DISTRICT AND VAIL VALLEY CONSOLIDATED WATER DISTRICT IN INSTRUMENT R$CORDED JUNE 7, 1990 IN BOOK 53d AT PAGE 965. I 1 20. ENCROACHMENT OF PAV$D PARKING AREA,SID$WALK,TIMBER WALLS AND BIKE PATH � ONTO UTILITY EASEMENT AND THE EFFECT OF ASPHALT PARKING NOT COMPLETELY � WITHIN SUBJECT PROPERTY, RETAINING WALL WITHIN UTILITY EASEMENT, BIKE � PATH NOT COMPLETELY WITHIN EASEMENT AND ASPHALT PARKING ONTO UTILITY � EASEMENT AS SHOWN ON IMPROVEMENT LOCATION CERTIFICATE PREPARED BY EAGLB � VALLEY SURVBYING, INC., FEBRUARY 4, 1999. NOTE:THE POLICY OF TITLE INSURANCE WILL INCLUD � E AN ARBITRATION PROVISION. � THE COMPANY OR THE INSURED MAY DEMAND ARBITRATION.ARBITRABLE MATTERS MAY INCLUDE, BUT ARE NOT LIMITED TO, ANY CONTROVERSY OR CLAIM BETWEEN THE COMPANY AND THE INSURED ARISING OUT OF OR RELATING TO THIS POLICY, ANY � SERVICE OF THE COMPANY IN CONNBCTION WITH TTS ISSUANCE OR THE BREACH OF A � POLICY PROVIS]ON OR OTHER OBLIGATION. PLEASE ASK YOUR ESCROW OR TITLE OFFICER FOR A SAMPLE COPY OF TH$POLICY TO BE ISSUED IF YOU WISH TO REVIEW THE ARBITRATION PROVISIONS AND ANY OTHER PROVISIONS PERTAINING TO YOUR TITLE INSURANCE COVBRAGE. � ! . I � � , ' � LAND T1TLE GUARANTEE COMPANY and LAND TITLE GUARANTEE COMPANY-GRAND JLINCTTON DISCLOSURE STATEMENTS Note:Pursuant to CRS 10-11-122, noUce is hereby glven Wat: A) The sub,jeci rea!property may be located in a special taxing dlstrlct. B) A CerUflcate of Taxes Due listlng each taxing�urisdictlon may be obtained from the County Treasurer's authorized agent. i C) The informaUon regardIng special dlstricts and the boundaries of such districts may be obtatned from the Board of County Commissioners, tlie County Clerk and Recorder,or U�e County Assessor. � Note: Effective September 1, I997, CRS 30-IO-406 requires that all documents received for recording or filing in the clerk and recorder's offlce shall cantain a top margin of at least one inch and a left,right and bottom margin of at least one half of an Inch. The clesk and recorder may refuse to record or file any document that does not conform, except that, the requtrement for the top mazgln shall not apply to documents using forms on which space fs provlded for recording or t3ling informaUon at the top margin of the document. ' Note:Colorado Dlvision of Insurance Regulations 3-5-1, Pazagraph C of AriIcle VII requires that"Every 11lle eniity shalt be responsible for all matters which appear of record prior to the Bme of recording whenever the tltle enqty conducts the cEosing and is responsible for recording or fiBng of legai documents resuldng from the transaction whlch was closed".Provided that Land TiUe Guarantee Company conducts the closing of the lnsured transaction and Is responslble for recording the • legat documents from We transaction,exception number 5�vlll not appear on the Qtvner's Tltle Pollcy and the Lenders Pollty when issued. Note: AfTtrmalive mechanic's Iien protection for the Owner may be available (typlcally by delet3on F of ExcepUon no. 4 of Schedule B,Section 2 of`the Commitment from the dwner's Policy to be Issued}upon compliance with the followIng condidons: � A)The land described in Schedule A of W1s commitment must be a s3ngle famliy residence whlch includes a condoininlum or townhouse unit. B)No labor or matedals have been furnished by mecl�anics or material-men for purposes of construclion on the land described ln Schedule A of tlils Commitment wlthin U�e past 6 months. C)1'he Company must receive an approprlate aff3davit indemniCying(he Company against un-filed mechanic's and mate�lal-men's llens. D)The Company must receive payment of the appropdate premium. E)If tbere haz been construc8on, improvements or maJor repairs underiaken on the property to be purchased wlthin six months prior to the Date of the Commitment,the requlrements to obtain coverage for unrecorded liens will lnclude: disclosure of certain construcUon information; financial informadon as to the setler,ihe builder and or the coniractor;payment of the appropdate premlum fully executed lndemnity Agreements satlsfactory to We company,and, any addiUonal requlrements as may be necessary after an exazninalion of Ihe aforesaid Informatlon by the Company, No coverage�vill be given under any circumstances for labor or material for which the insured has contracted for or agreed to pay. Note:Pursuant to CRS 10-11-I23, notice is hereby given: Thls notice appEies to owner's po11ry commitmEnts contalning a mineral severance instrument excepUon,or exceptions, in Schedale B,SecUon 2. A)That there is recorded evidence that a mineral estate has been severed,leased, or otheriv3se co�rveyed from lhe surface estate and 1ha1 there is a substantial likelihood that a third party holds some or aIl lnterest in oil,gas, other minerals, or geothermal energy in tlie property; and B)That such minerat estate may include the rlght to enter and use the pnoperty wIthout the surface owner's permission. Nothing herein contained wlll be deemed to obllgate the company to provide any of the coverages i referred!o herein unless the above condltlons are fully satisfied. I- Foim DISCIASURE 09/O1/02 I � NOTICE OF PRiVACY POLICY � Fidellty National Finandal Group of Companies/Chicago TitIe Tnsurance Company Security Union TIUe Insurance Company July 1, 2001 We recognize and re��s�pect the prlvacy expecialIons of today's consumers and the reguirements of applIcable federal and state prlvac�lativs.We belleve that making you a�vaze of how we use your non-public personal informaUon("Personal i Information ),and co whom it is disclosed,wi11 Farm Ihe basls for a relatlonship of trust between ns and the publlc that we serve.This Privacy Statement provfdes that explanaUon. We reserve the rlght lo change this Privacy � 5tatement from Ume to time consistent with appllcable privacy laws, r O In the course of our busfness,we may cullect Personat Informatlon about you from the following sources: E • From applications ar olher forms we receive from you or our authorized representative; ' * From your transactions wlth,or from the services 6eing pecformed by, us, our affitiates, or oWers; From our interoet tiveb sites; * From the public records maintalned by governntental en6Ues that�ve either obtatn dlrectly from those entities,or hom our aftiliates or others; and * From consumer or olher reporting agendes. ' Our Polides Regarding the Protectton of the Confidentiallty and Security of Your Personal Inforruation We maintain physical,electronic and procedural safeguards to protect your Personal Information from unauthorized access or Intrusion.We Iimit access lo the Personal Informatian only to those employees who need such access in connection wlth providing products or services to you or for other legiUmate busfness purposes. Our Policies and PracBces Regarding the Shadng of Your Personal Tnformation We may share your Personal Informatlon with our affi[tates,such as lnsurance companies, agents, and olher real estate settlement servlce provtders. We also may dIsclose your Persona[Infarn�ation: # lo agenls,brokers or representattves to provide you with services you have requested; to th7rd-party contractars or servlce providers tvl�o provide servlces or perform marketing or other functions on our behalf;and � * to others with whom we enter into jolnt markeling agreements for products or services that�ve believe you may find of 9nterest. In additlon,we wi1)dlsclose your Personal InformaUan when you direct ar give us pem�iss[on, �vhen we are required j by law to do so, or when we suspect fraudulent or crtminal activitles. We aTso inay disclose your Personai Information when otherwise permitted by appllcable pdvacy laws such as,for example,wheu disclosure ts needed to enforce our righls uising out of any agreement,lransaction or reiat3onshlp tv(th you. One of the imporian!responsibilities of some of aur aftlllated companies is to record documents in the public domain.Such documents may contain your Personal Information. Rtglit to Access Your Personal Information and A6ility to Correct Errors pr Request Changes Qr Deletion � Certafn states afford you ihe rlght to access your Personal Information and,under cerlain circumstances, to find out to whom your Personal InfarmaUon has been dlsclased.Also,certain siates afford you the rlght to request corredion,amendment or deleflon of your Persona(Informatton. We reserve the nght,tvhere permitted by law,to charge a reasonable fee to cover the casts incurred in responding to such requests. All requests subrNtted to Ihe Fidelity NaUonal Financlal Group of Companies/Chlcago Title Insurance Company shall be in writing, and delivered lo the following address: Prlvacy Compliance Officer Fidelity Nadonal Financial, Inc. 4050 Calle Real,Suite 220 Santa Barbara, CA 93I10 Mu1Hp2e Products or Services If we provide you wlth more than one financlaI product or servfce,you may receive more than one prlvary notice from us.We apologtze for any inconvenience t1�3s may cause you. � i Form r�v.eor,.au � � � I� 1 ! , . , � � NOTICE•OF PRIVACY P L � 0 ICY OF LAND TITLE GUARANTEE COMPANY, INC.,A COLORADO CORPORATION AND i MERIDIAN LAND TITLE,L.L.C.,A COLORADO LIMITED LIABLITY COMPANY, D/B7A LAND TITLE GUARANTEE COMPANY-GRAND JUNCTION i This Statement is provided to you as a customer oF T..and Title Guarantee Company, a Colorado corporation and � Meddian Land Title, LLC, d/b/a Land Title Guarantee Company-Grand Junctlon. ! f We want you to know that we recognize and respect your prlvacy expectattons and the requirements of Federal � and state prlvacy taws. InformaUon secudty 1s one of our hlghest pNoriUes. We recogntze that maintaining your trust and confldence!s the bedmck of our buslness. We maintain and regularIy review internal and externa( safeguards against unauthorized access to non-public personat informaUon ("Personallnformatian"). ln tbe caurse of our business, we may collect Personal Information about you from: * appliraUons or other forms we receive from you, including commuuicatiohs sent through TMX,our web-based transactlon management system; ' your transaclions wIth, or From the services being performed by, us,our afflliates, or others; * a consumer reporttng agency,1f such information is provlded to us in connecfIon wlth your transacUon; � and i ' the public records maintained by governmenlat entides that we eitl�er obtain direcUy from those entides, or from our afliliates and non-aftiliales. � Onr policies regarding the protection of tl�e confldenliality and secarity of your Personal Inforroalion are as � follows: ' We restrlct access to alt Personal Information about you to those employees�vho need to knotv that � informatlon in order to provlde products and services to you. � * We maintain physlcal, elecUonic aad procedural safeguards that comply with Federal standards to protect your Persona!Informatlon from unauthorized access or intrusion. * Employees who violate our strict policies and procedures regardtng privacy are subject lo disclpltnary action. i * We regularIy access security standards and procedures to protect against unauthorized access to Personal InformaUon. �V$DO NOT D] CLOSE ANY P _trsntvar iNF��ATIQN ABOUT YOLJ WITH ANYONE FOR ANY PURPOSE THAT IS�NOT PERMITTF.D BY LAW. Conslstent with appllcabie pdvacy laws,there are some situaU�ns in tvhlch Personal InFormatlon may be disclosed.We may disclose your Personal Informatlon when you direct or give us permission;when we are required by law to d�so, for example, if we are served a subpoena;or when we suspect fraudulent or criminal acUvitIes. We also may dlsclose your Personal Information when othenvise permitted by applicable privacy laws such as, for example,�vhen disclosure is needed to enforce our rlghts artsing out oF any agreement, iransact�on or relalionship wlth you. Our palIcy regarding dispute resolution is as follows.Any controversy or claim arising out of or relating to our , privacy policy,or d�e breach thereof,shaII be setlled by arb9tration in accordance with the rules of ihe American Arbitralion Associatlon,and Judgment upon the award rendered by the arbitrator(s) may be entered in any conrt having jur}sdtction thereaf. Foun PRIV.PDL.LIG.1 � I.. t � EAGLE COUNTY, CO 200906990 rea�: a siMONraa P�s: 5 10:41:40AM 04/17/2009 R : 3 52G.00 DC�C: S pECLARATION OF RESTRICTIVE COVFdVANTS � THIS D TION OF RESTRIGTNE COVENANTS this"Dxlaraaon" ( )is made as of ihe � day of � , 2009, by Glen Lyon Office Building, a Colorado geneaal partnership ("Declarant'�,for the benefit of Coldstream Condominium Associatioa,a Colorado nonprofit corpotation (the"Association'�. R�E�TTALS 1. Declarant owns that certain parcel of land describod as Lot 54, Glen Lyon Subdivision ("L.ot 54"}. Declararn may redevciop and conswq improvemeats on Lot 54 that include business, pmfessional of�ice, and/or residential usa�s, or any combination thereof, as permitted by the zoning regulations of the Towa of Vail and the Protective Coveaants of Glen Lyon Subdivision recordea in the Records on April 4,197$,in Book 268 at Page 698,as amended(the"Covenants")(the"improvements"). 2. In consideration for tlte Association having consented to amend the CoveAants to perrnit residential use on Lot 54(in addition to business aad pmfessional of�icc),Doclarant hereby covenants to limit the Improvanents as sex focth hereir►. NOW THEREFORE, Dxlaiant does hereby publish and d�Iare that the following terms, covenants, conditions,restrictions,uses,reservations, limitations and obligations shal!be deemed to nun with the land described herein, shall bo a burden on Lot 54 and a bcaefit to the Associadon. These restrictive covenants are for the benef't of the Association only, and no rights or benefits shall inure to any third party(including individual ownecs of cundomin�um uniis within the Coldstream project)and no cause of action sLall exist in any third party to cnforce the tersns or c�nditions of this Declaration. 1. Use of Lot 54.Dtclarant covenants that the improvements to be constructed on Lot 54 shall not exceed a total of 56,000 net square fed of oET'icx and/or rzsidentiat space (not including parking, circulatioa, common area a other similar areas),as described belo�v. In addition, Declarant covwants that the Improveme.nts to be constiuctod on Lot 54 shal!not exceed a total of 70,000 gross square fe�t of office and/or residential space(including circulation and common areas,bui excluding parldng areas): (a) Maximum Loaseable Office Sp�. The maximum amount of net leaseable floor ar�a for use as business and profcssional office space cantainod within the Improvements shal] be 11.OQ(}square fca. Notwithstanding the foregoing,in tho cvent that lcss than 45,000 square feet of ORFA is approved and consirucied as part of the Improvements as provided in subseciion itb) below, a corresponding amount of business and prafessional office space sha11 be added to the 11,000 square foot maximwn described herein. (b) M�igt�n Gc+oss Residentiai Floor Area. The maximum amount of gross residential floor area„{"GRFA", as definod by the Vail Town Code) coretainod within the Improvements shap lx 45,000 square foet(exetuding on-site employoe housing,which is not incfuded in GRFA as defined by the Vail Town Code}. Notwir]utanding the foregoing, in the event that iess than 11,000 square fo� of net leaseable business and professional office space is approved and constructad as part of the Improv«nents as provided in subsection 1(a) above, a oorresponding amount of GRFA shaU be addad to the 45,000 square foot maximum described herein. (c) Maximum HeiQht. The maximum height of the Improvemertts to be iocated on i,ot 54 shall not excced thc"maximum building heights"applicable to the various sections of Lot 54 as set forth in the Elevation Pro61e attached hereto as F�h'bi� 't A-1 and incorporaEed herein by referea�ce,will comply with Town of Vail requirernaits applicable to Lot 54 and wiil not sak or accept a variance to txight limits for the improvements. BUS RE12153863.1 200906990 1 ot 5 � ' � 2. Archiiectural Cha��, Declarant agree,s that the architxtural cb�aracter of the Improvements shown on the plans submitted to the Town of Vai!for approval shall be consistetit with the architectural character of the Improvemeatts shown on thc plans submitted to the Association in connoction wiW the apprnval of this Deciaration (character images preparod by Resort Design Associates dated Mareh 26, 2007,Projoct No. 23316)and may change such architoctural charactcx only if requestod by the Town of Vail. 3. Covenants Running With Lot 54. The terms and conditions eontained in this Declarntion shall run with Lot 54 and shall inun solely to the beaefit of the Association,and be binding on each ownex of I.ot 54 and its respedivc successors and assigas. 4. Modification. This Doclaratioa and tho rights arxi obligations hereby imposed may not be modifiod, amended,changed,cancelled or tercninatod in any manner without the express written consent of Doclarant apd the Association by acdon of its board of directors. 5. Par�al Invaliditv. If any clause a provision of tttis Declaration is daermined to be invalid, iAegal or unenforceable, the remainda�of this Dcclaration shall not be at�'xted thereby, aad in licu of such provision,there shall be added as a part of this Doclaration a clause or pmvision as similar in tenns to such invaGd, illegal or unenforceable clause or provision as may be possible and be valid, legal and enforeeabla 6. Goveming Law. This Doclaration shall be govemed by the laws of the State of Colorado. [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] [SIGNATURE PAGE FOY,L,OWSj � BUS RE12153863.1 200806990 2 oi 5 � IN WTTNESS WHEREOF,the Dxlarant has executed ihis L)ecla�tion as of the date first above � wriuen. DECLARANT: GLEN LYON OFFICE BUILDING,a Colorado general P�p By: ADN, Inc., a Colorado corporation, its general partnec By: Andrew D.Norris,Presidcut STATE OF COLORADO ) )ss. COUNTY OF EAGLE ) � The foregoing instruma►t was aclmowledged before zne this�day o 2009, by Andrew D.Norris,I'residait of ADN,Inc.,a Coloredo corporation,as general partn of Glen Lyon Office Buildiag,a Colorado gcncral paRneiship. WT[IV'ESS my hand and official ea My commission expires: [SEAL] Notary Public S.KELLER-GREEN NOTARY PUBLIC STATE OF COLORADp My commseton�res�aro�ooe sus x�zisss�.� 200906990 3 of 5 � it A-1 Elevation Protile Lot 54 Clen Lyon Subdivision (Attached) � BUS_RE\2153863.1 200906990 4 of 5 .. � . 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Chris McElvany 108 S FRONTAGE RD W#203 VAIL, CO 81657 Phone: 970-476-2251 Fax: 970-476-4732 EMail: cmcelvany@Itgc.com VAIL ASSOCIATES,INC.,A COLO CORP PO BOX 7 VAIL,CO 81658 Attn: GERRY ARNOLD Phone: 970-845-2658 Fax: 970-845-2555 EMail:gerrya@vailresorts.com Linked Commitment Delivery Land Tide Guarantee Company Date: 02-22-2007 ��T� Our Order Number: VB50018103 GIIARANTEE WMVANY Property Address: 862 FRONTAGE RD W. /SOUTH FRONTAGE ROAD, TRACT B VAIL, CO 81657 BuyerBorrower: THE VAIL CORPORATION, A COLORADJ CORPORATION Seller/Owner: THE VAIL CORPORATION, A COLORADO CORPORATION Need a map or directions for your upcoming closing?Check out Land Tide's web site at www.ltgc.com for directioas to an of our 54 office locations. ESTIMATE OF TITLE FEES Information Binder $158.00 If Land Title Guarantee C�paay will be cloaing this transaction, above feea vill be collected at that tima. TOTAL $158.00 eba caxxacx os�o. THANK YOU FOR YOUR ORDERI LAND TITLE GUARANTEE COMPANY INVOICE Land Title GUARANTEECUMVANY Owner: THE VAIL CORPORATION, A COLORADO CORPORATION Property Address: 862 FRONTAGE RD W. /SOUTH FRONTAGE ROAD, TRACT B VAIL, CO 81657 Your Reference No.: When referring to this order, please reference our Order No. VB50018103 -CHARGES- Information Binder $158.00 --Total-- $158.00 Please make checks payable to: Land Tifle Guarantee Company P.O. Box 5440 Denver, CO 80217 Chicago Tifle Insurance Company ALTA COMMITMENT Our Order No. VB50018103 Schedule A Cust. Ref.: Property Address: 862 FRONTAGE RD W. /SOUTH FRONTAGE ROAD, TRACT B VAIL, CO 81657 1. Effective Date: February 02, 2007 at 5:00 P.M. 2. Policy to be Issued, and Proposed Insured: Information Binder Proposed Insured: THE VAIL CORPORATION, A COLORADO CORPORATION 3. The estate or interest in the land described or referred to in this Commitment and covered herein is: A Fee Simple 4. Tide to the estate or interest covered herein is at the effective date hereof vested in: THE VAIL CORPORATION, A COLORADO CORPORATION 5. The land referred to in this Commitment is described as follows: TRACT B, SOUTH FRONTAGE ROAD SUBDIVISION, ACCORDING TO THE FINAL PLAT RECORDED NOVEMBER 6, 2000 AT RECEPTION 1V0. 734424, COUNTY OF EAGLE, STATE OF COLORADO. ALTA COMMITMENT Schedule B-Section 1 (Requirements) Our Order No. VB50018103 The following are the requirements to be complied with: Item (a) Payment to or for the account of the grantors or mortgagors of the full consideration for the estate or interestto be insured. Item (b) Proper instrument(s) creating the estate or interest to be insured must be executed and duly filed for record, to-wit: Item (c) Payment of all taxes, charges or assessments levied and assessed against the subject premises which are due and payable. Item (d) Additional requirements, if any disclosed below: This product is for informational purposes only and does not constitute any form of title guarantee nor insurance. The liability of the company shall not exceed the charge paid by the applicant for this product, nor shall the company be held liable to any party other than the applicant for this product. THIS COMMITMENT IS FOR INFORMATION OIVLY, AND IVO POLICY WILL BE ISSUED PURSUANT HERETO. ALTA COMMITMENT Schedule B- Section 2 (Exceptions) Our Order No. VB50018103 The policy or policies to be issued will contain exceptions to the following unless the same are disposed of to the satisfaction of the Company: 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 inspecflon 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 theretofore or hereafter furnished, imposed by law and not shown by the public records. 5. Defects, liens, encumbrances, adverse claims or other matters, if any, created, first appearing in the public records or attaching subsequent to the effective date hereof but prior to the date the proposed insured acquires of record for value the estate or interest or mortgage thereon covered by this Commitment. 6. Taxes or special assessments which are not shown as existing liens by the public records.o the Treasurer's oftice. 7. Liens for unpaid water and sewer charges, if any.. 8. In addition, the owner's policy will be subject to the mortgage, if any, noted in Section 1 of Schedule B hereof. 9. LIENS FOR UNPAID WATER AND SEWER CHARGES, IF ANY. 10. 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 UIVITED STATES PATEIVT RECORDED DECEMBER 29, 1920, IN BOOK 93 AT PAGE 42. 11. RIGHT OF WAY FOR DITCHES OR CANALS CONSTRUCTED BY THE AUTHORITY OF THE UNITED STATES AS RESERVED IIV UNITED STATES PATENT RECORDED DECEMBER 29, 1920, IN BOOK 93 AT PAGE 42. 12. WATER AND WATER RIGHTS, DITCH AND DITCH RIGHTS, WHETHER OR NOT OF PUBLIC RECORD. 13. EASEMENT AND RIGHT OF WAY FOR RED SANDSTONE CREEK. 14. EASEMENT AS RESERVED BY HOLY CROSS ELECTRIC ASSOCIATION, INC. IN DEED RECORDED FEBRUARY 21, 1995 IN BOOK 661 AT PAGE 743. ALTA COMMITMENT Schedule B-Section 2 (Exceptions) Our Order No. VB50018103 The policy or policies to be issued will contain exceptions to the following unless the same are disposed of to the satisfaction of the Company: 15. TERMS, CONDITIONS AND PROVISIONS OF GORE CREEK PLACE DEVELOPMENT AGREEMENT RECORDED MARCH 10, 2005 AT RECEPTION NO. 908751. 16. TERMS, CONDITIONS AND PROVISIONS OF ORDINANCE NO. 32 SERIES 2004 RECORDED MARCH 10, 2005 AT RECEPTION NO. 908755. 17. TERMS, CONDITIONS AND PROVISIONS OF EASEMENT RECORDED SEPTEMBER 21, 2005 AT RECEPTION NO. 930318. NOTE: THE POLICY OF TITLE INSURANCE WILL INCLUDE AN ARBITRATION PROVISION. THE COMPANY OR THE INSURED MAY DEMAND ARBITRATION. ARBITRABLE MATTERS MAY INCLUDE, BUT ARE NOT LIMITED T0, A1VY CONTROVERSY OR CLAIM BETWEEN THE COMPANY AND THE INSURED ARISING OUT OF OR RELATING TO THIS POLICY, ANY SERVICE OF THE COMPANY IN CONNECTION WITH ITS ISSUANCE OR THE BREACH OF A POLICY PROVISION OR OTHER OBLIGATION. PLEASE ASK YOUR ESCROW OR TITLE OFFICER FOR A SAMPLE COPY OF THE POLICY TO BE ISSUED IF YOU WISH TO REVIEW THE ARBITRATION PROVISIONS AND ANY OTHER PROVISIONS PERTAINING TO YOUR TTfLE INSURANCE COVERAGE. LAND TITLE GUARANTEE COMPANY and LAND TITLE GUARANTEE COMPANY- GRAND JUNCTION DISCLOSURE STATEMENTS Note: Pursuant to CRS 10-11-122, notice is hereby given that: A) The subject real property may be located in a speciai taxing district. B) A Certificate of Taxes Due listing each taxing jurisdiction may be obtained from the County Treasurer's authorized agent. C) The information regarding special districts and the boundaries of such districts may be obtained from the Board of County Commissioners, the County Clerk and Recorder, or the County Assessor. Note: Effective September 1, 1997, CRS 30-10-406 requires that all documents received for recording or filing in the clerk and recorder's office shall contain a top margin of at least one inch and a left, right and bottom margin of at least one half of an inch. The clerk and recorder may refuse to record or file any document that does not conform, except that, the requirement for the top margin shall not apply to documents using forms on which space is provided for recording or filing information at the top margin of the document. Note: Colorado Division of Insurance Regulations 3-5-1, Paragraph C of Article VII requires that "Every title entity shall be responsible for all matters which appear of record prior to the time of recording whenever the tide entity conducts the closing and is responsible for recording or filing of legal documents resulting from the transaction which was closed". Provided that Land Title Guarantee Company conducts the closing of the insured transaction and is responsible for recording the legal documents from the transaction, exception number 5 will not appear on the Owner's Tide Policy and the Lenders Policy when issued. Note: Affirmative mechanic's lien protection for the Owner may be available (typically by deletion of Exception no. 4 of Schedule B, Section 2 of the Commitment from the Owner's Policy to be issued) upon compliance with the following conditions: A) The land described in Schedule A of this commitment must be a single family residence wluch includes a condominium or townhouse unit. B) No labor or materials have been fumished by mechanics or material-men for purposes of construction on the land described in Schedule A of this Commitment within the past 6 months. C) The Company must receive an appropriate affidavit indemnifying the Company against un-filed mechanic's and material-men's liens. D)The Company must receive payment of the appropriate premium. E) If there has been construction, improvements or major repairs undertaken on the property to be purchased within six months prior to the Date of the Commitment, the requirements to obtain coverage for unrecorded liens will include: disclosure of certain construction information; fmancial information as to the seller, the builder and or the contractor; payment of the appropriate premium fully executed Indemnity Agreements satisfactory to the company, and, any additional requirements as may be necessary after an examination of the aforesaid information by the Company. No coverage will be given under any circumstances for labor or material for which the insured has contracted for or agreed to pay. Note: Pursuant to CRS 10-11-123, noflce is hereby given: Tlris notice applies to owner's policy commitments containing a mineral severance instrument exception, or exceptions, in Schedule B, Section 2. A) That there is recorded evidence that a mineral estate has been severed, leased, or otherwise conveyed from the surface estate and that there is a substantial likelihood that a third party holds some or all interest in oil, gas, other minerals, or geothermal energy in the property; and B) That such mineral estate may include the right to enter and use the property without the surface owner's permission. Nothing herein contained will be deemed to obligate the company to provide any of the coverages referred to herein unless the above conditions are fully satisfied. Fozm DISCZOSURE 09/O1/02 JOINT NOTICE OF PRIVACY POLICY Fidelity National Financial Group of Companies/Chicago Title Insurance Company Security Union Title Insurance Company and Land Tide Guarantee Company and Land Title Guarantee Company-Grand Junction 1wy 1, 2ooi We recognize and r�e�spect the privacy expectations of today's consumers and the requirements of applicable federal and state privac�+laws. 1N-e believe that making you aware of how we use your non-pubTic personal information ("Personal Information'), and to whom it is disclosed, will form the basis for a relationship of trust between us and the public that we serve. Tlris Privacy Statement provides that explanation. We reserve the right to change this Privacy Statement from time to time consistent with applicable privacy laws. In the course of our business,we may collect�'ersonal Information about you from the following sources: * From applications or other forms we receive from you or your authorized representative; * From your transactions with, or from the services being performed by, us, our affiliates, or others; * From our intemet web sites; * From the public records maintained by governmental entities that we either obtain directly from those entities, or fmm our affiliates or others; and * From consumer or other reporting agencies. Our Policies Regarding the Protection of the Confidentiality and Security of Your Personal Information We maintain physical, electronic and procedural safeguards to protect your Personal Information from unauthorized access or intrusion. We limit access to the Personal Information only to those employees who need such access in connection with providing products or services to you or for other legitimate busmess purposes. Our Policies and Practices Regarding the Sharing of Your Personal Information We may share your Personal Information with our affiliates, such as insurance companies, agents, and other real estate settlement service providers. We also may disclose your Personal Informaflon: * to ag ents, brokers or representatives to provide you with services you have requested; * to ttiird-party contractors or service providers who provide services or perform marketing or other funcflons on our behalf; and * to others with whom we enter into joint marketing agreements for products or services that we believe you may fmd of interest. In addition, we will disclose your Personal Information when you direct org�ve us permission, when we are required by law to do so, or when we suspect fraudulent or criminal ac�ivities. We aiso may disclose your Personal Information when otherwise permitted by applicable privacy laws such as, for example, when disclosure is needed to enforce our rights arising out of any agreement, transaction or relationship with you. One of the important responsibilities of some of our affiliated companies is to record documents in the public domain. Such documents may contain your Personal Information. Right to Access Your Personal Information and Ability to Correct Errors Or Request Changes Or Deletion Certain states afford you the right to access your Personal Information and, under certain circumstances, to find out to whom your Personal Information has been disclosed. Also, certain states af�'ord you the right to request correction, amendment or deletion of your Personal Information. We reserve the nght, where permitted by law, to charge a reasonable fee to cover the costs incurred in responding to such requests. All requests submitted to the Fidelity National Financial Group of Companies/Chicago Title Insurance Company shall be in writing, and delivered to the following address: Privacy Compliance Ofticer Fidelity National Financial, Inc. 4050 Calle Real, Suite 220 Santa Barbara, CA 93110 Multiple Products or Services If we provide you with more than one financial�roduct or service, you may receive more than one privacy notice from us. We apologize for any inconvenience ttus may cause you. Fonn PRIV.FOL.Q-II Land Title Guarantee Company CUSTOMER DISTRIBUTION Land Title GIIARANTEECUMVANT Date: 02-22-2007 Our Order Number: VB50018105 Prnperty Address: 923 FRONTAGE RD W. /TRACT A SOUTH FROIVTAGE ROAD SUB VAIL, CO 81657 If you have any inquiries or require fiu�t/�er assistance,please contact one of the numbers below: For Tide Assistance: Vail Tide Dept. Chris McElvany 108 S FRONTAGE RD W#203 VAIL, CO 81657 Phone: 970-476-2251 Fax: 970-476-4732 EMail: cmcelvany@Itgc.com VAIL ASSOCIATES,INC.,A COLO CORP PO BOX 7 VAIL,CO 81658 Attn: GERRY ARNOLD Phone: 970-845-2658 Fax: 970-845-2555 EMail:gerrya@vailresorts.com Linked Commidnent Delivery Land Title Guarantee Company Date: 02-22-2007 ��T� Our Order Number: VB50018105 (iUARANTEECOMVANY Property Address: 923 FRONTAGE RD W. /TRACT A SOUTH FRONTAGE ROAD SUB VAIL, CO 81657 Buyer/Borrower: THE VAIL CORPORATION, A COLORADO CORPORATION Seller/Owner: THE VAIL CORPORATIOIV, A COLORADO CORPORATION Need a map or directions for your upcoming closing?Check out Land Tide's web site at www.ltgc.com for directions to an of our 54 o�ce locations. ESTIMATE OF TITLE FEES Information Binder $158.00 If Land Title Guarantee Campany will be closing thia tranasction, above feea rill be collected at that time. TOTAL $158.00 res ca�+aac:os�o. THANK YOU FOR YOUR ORDER! LAND TITLE GUARANTEE COMPANY Land Title INVOICE (il1ARANTEE CUMYANY Owner: THE VAIL CORPORATION, A COLORADO CORPORATION Property Address: 923 FRONTAGE RD W. /TRACT A SOUTH FRONTAGE ROAD SUB VAIL, CO 816 Your Reference No.: When referring to this order, please reference our Order No. VB50018105 -CHARGES- Information Binder $158.00 --Total-- $158.00 Please make checks payable to: Land Title Guarantee Company P.O. Box 5440 Denver, CO 80217 Chicago Tifle Insurance Company ALTA COMMITMENT Our Order No. VB50018105 Schedule A Cust. Ref.: Property Address: 923 FRONTAGE RD W. /TRACT A SOUTH FRONTAGE ROAD SUB VAIL, CO 81657 1. Effective Date: February 02, 2007 at 5:00 P.M. 2. Policy to be Issued, and Proposed Insured: Information Binder Proposed Insured: THE VAIL CORPORATION, A COLORADO CORPORATION 3. The estate or interest in the land described or refened to in this Commitment and covered herein is: A Fee Simple 4. Tide to the estate or interest covered herein is at the effective date hereof vested in: THE VAIL CORPORATION, A COLORADO CORPORATION 5. The land referred to in this Commitment is described as follows: TRACT A, SOUTH FRONTAGE ROAD SUBDNISIOIV, ACCORDING TO THE FINAL PLAT RECORDED NOVEMBER 6, 2000 AT RECEPTION NO. 734424, COUNTY OF EAGLE, STATE OF COLORADO. ALTA COMMITMENT Schedule B -Section 1 (Requirements) Our Order No. VB50018105 The following are the requirements to be complied with: Item (a) Payment to or for the account of the grantors or mortgagors of the full consideration for the estate or interestto be insured. Item (b) Proper instrument(s) creating the estate or interest to be insured must be executed and duly filed for record, to-wit: Item (c) Payment of all taxes, charges or assessments levied and assessed against the subject premises which are due and payable. Item (d) Additional requirements, if any disclosed below: This product is for informational purposes only and does not constitute any form of title guarantee nor insurance. The liability of the company shall not exceed We charge paid by the applicant for this product, nor shall the company be held liable to any party other than the applicant for this product. THIS COMMITMENT IS FOR INFORMATION ONLY, AND NO POLICY WILL BE ISSUED PURSUANT HERETO. ALTA COMMITMENT Schedule B-Section 2 (Exceptions) Our Order No. VB50018105 The policy or policies to be issued will contain exceptions to the following unless the same are disposed of to the satisfaction of the Company: 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 theretofore or hereafter furnished, imposed by law and not shown by the public records. 5. Defects, liens, encumbrances, adverse claims or other matters, if any, created, first appearing in the public records or attaching subsequent to the effective date hereof but prior to the date the proposed insured acquires of record for value the estate or interest or mortgage thereon covered by this Commitment. 6. Taxes or special assessments which are not shown as existing liens by the public records.o the Treasurer's office. 7. Liens for unpaid water and sewer charges, if any.. 8. In addiflon, the owner's policy will be subject to the mortgage, if any, noted in Section 1 of Schedule B hereof. 9. LIENS FOR UIVPAID WATER AND SEWER CHARGES, IF ANY. 10. RIGHT OF PROPRIETOR OF A VEIN OR LODE TO EXTRACT AND REMOVE HIS ORE THEREFROM SHOULD THE SAME BE FOUND TO PEIVETRATE OR INTERSECT THE PREMISES AS RESERVED IN UNITED STATES PATEIVT RECORDED DECEMBER 29, 1920, IN BOOK 93 AT PAGE 42. 11. RIGHT OF WAY FOR DITCHES OR CANALS CONSTRUCTED BY THE AUTHORITY OF THE UNITED STATES AS RESERVED IN UNIT�;D STATES PATENT RECORDED DECEMBER 29, 1920, IN BOOK 93 AT PAGE 42. 12. WATER AND WATER RIGHTS, DITCH AND DITCH RIGHTS, WHETHER OR 1VOT OF PUBLIC RECORD. 13. EASEMENT AND RIGHT OF WAY FOR RED SAIVDSTONE CREEK. 14. EASEMENT AS RESERVED BY HOLY CROSS ELECTRIC ASSOCIATION, INC. I1V DEED RECORDED FEBRUARY 21, 1995 IN BOOK 661 AT PAGE 743. ALTA COMMITMENT Schedule B-Section 2 (Exceptions) Our Order No. VB50018105 The policy or policies to be issued will contain exceptions to the following unless the same are disposed of to the satisfaction of the Company: 15. TERMS, CONDITIONS AND PROVISIONS OF GORE CREEK PLACE DEVELOPMEIVT AGREEMENT RECORDED MARCH 10, 2005 AT RECEPTION N0. 908751. 16. TERMS, CONDITIONS A1VD PROVISIONS OF ORDINANCE N0. 32 SERIES OF 2004 RECORDED MARCH 10, 2005 AT RECEPTION 1V0. 908755. NOTE: THE POLICY OF TITLE INSURANCE WILL INCLUDE AN ARBITRATION PROVISION. THE COMPANY OR THE INSURED MAY DEMAND ARBITRATION. ARBITRABLE MATTERS MAY INCLUDE, BUT ARE NOT LIMTTED TO, ANY CONTROVERSY OR CLAIM BETWEEN THE COMPANY AND THE INSURED ARISING OUT OF OR RELATIIVG TO THIS POLICY, ANY SERVICE OF THE COMPANY I1V CONNECTION WITH ITS ISSUANCE OR THE BREACH OF A POLICY PROVISION OR OTHER OBLIGATION. PLEASE ASK YOUR ESCROW OR TITLE OFFICER FOR A SAMPLE COPY OF THE POLICY TO BE ISSUED IF YOU WISH TO REVIEW THE ARBITRATION PROVISIONS AND ANY OTHER PROVISIONS PERTAINING TO YOUR TTTLE INSURANCE COVERAGE. LAND TITLE GUARANTEE COMPANY and LAND TITLE GUARANTEE COMPANY- GRAND JUNCTION DISCLOSURE STATEMENTS Note: Pursuant to CRS 10-11-122, notice is hereby given that: A) The subject real property may be located in a special taxing district. B) A Certificate of Taxes Due listing each taxing jurisdiction may be obtained from the County Treasurer's authorized agent. C) The information regarding special districts and the boundaries of such districts may be obtained from the Board of County Commissioners, the County Clerk and Recorder, or the County Assessor. Note: Effective September 1, 1997, CRS 30-10-406 requires that all documents received for recording or filing in the clerk and recorder's office shall contain a top margin of at least one inch and a left, right and bottom margin of at least one half of an inch. The clerk and recorder may refuse to record or file any document that does not conform, except that, the requirement for the top margin shall not apply to documents using forms on which space is provided for recording or filing information at the top margin of the document. Note: Colorado Division of Insurance Regulations 3-5-1, Paragraph C of Article VII requires that "Every tide entity shall be responsible for all matters which appear of record prior to the time of recording whenever the tide entity conducts the closing and is responsible for recording or filing of legal documents resulting from the transaction which was closed". Provided that Land Title Guarantee Company conducts the closing of the insured transaction and is responsible for recording the legal documents from the transaction, exception number 5 will not appear on the Owner's Title Policy and the Lenders Policy when issued. Note: Aff`umative mechanic's lien protection for the Owner may be available (typically by deletion of Excepflon no. 4 of Schedule B, Section 2 of the Commitment from the Owner's Policy to be issued)upon compliance with the following conditions: A) The land described in Schedule A of this commitment must be a single family residence which includes a condominium or townhouse unit. B) No labor or materials have been furnished by mechanics or material-men for purposes of construction on the land described in Schedule A of this Commitment within the past 6 months. C) The Company must receive an appropriate affidavit indemnifying the Company against un-filed mechanic's and material-men's liens. D) The Company must receive payment of the appropriate premium. E) If there has been construction, improvements or major repairs undertaken on the property to be purchased within six months prior to the Date of the Commitment, the requirements to obtain coverage for unrecorded liens will include: disclosure of certain construction information; financial information as to the seller, the builder and or the contractor; payment of the appropriate premium fully executed Indemnity Agreements satisfactory to the company, and, any additional requirements as may be necessary after an examination of the aforesaid information by the Company. No coverage will be given under any circumstances for labor or material for which the insured has contracted for or agreed to pay. Note: Pursuant to CRS 10-11-123, notice is hereby given: This notice applies to owner's policy commitments containing a mineral severance instrument exception, or exceptions, in Schedule B, Section 2. A) That there is recorded evidence that a mineral estate has been severed, leased, or otherwise conveyed from the surface estate and that there is a substantial likelihood that a third party holds some or all interest in oil, gas, other minerals, or geothermal energy in the property; and B)That such mineral estate may include the right to enter and use the property without the surface owner's permission. Nothing herein contained will be deemed to obligate the company to provide any of the coverages referred to herein unless the above conditions are fully satisfied. Fornt DISCL06URE 09/O1/02 JOINT NOTICE OF PRIVACY POLICY Fidelity National Financial Group of Companies/Chicago Title Insurance Company Security Union Tide Insurance Company and Land Title Guarantee Company and Land Tide Guarantee Company- Grand Junction JWy 1, 2ooi We recognize and r�e�sp ect the privacy expectations of today's consumers and the requirements of applicable federal and state privacx laws. V1re believe that making you aware of how we use your non-pubIic personal information ("Personal Information'), and to whom it is disclosed, will form the basis for a relationship of trust between us and the public that we serve. This Privacy Statement provides that explanation. We reserve the right to change this Privacy Statement from time to time consistent with applicable privacy laws. In the course of our business, we may collect Personal Information about you from the following sources: * From applications or other forms we receive from you or your authorized representative; * From your transactions with, or from the services being performed by, us, our affiliates, or others; * From our intemet web sites; * From the public records maintained by governmental entities that we either obtain direcdy from those entities, or from our affiliates or others; and * From consumer or other reporting agencies. Our Policies Regarding the Protection of the Confidentiality and Security of Your Personal Information We maintain physical, electronic and procedural safeguards to protect your Personal Information from unauthorized access or intrusion. We limit access to the Personal Information only to those employees who need such access in connection with providing products or services to you or for other legitimate busmess purposes. Our Policies and Practices Regarding the Sharing of Your Personal Information We may share your Personal Information with our aff`iliates, such as insurance companies, agents, and other real estate settlement service providers. We also may disclose your Personal Information: * to ag ents, brokers or representatives to provide you with services you have requested; * to ttiud-party contractors or service providers w�ho provide services or perform marketing or other functions on our behalf; and * to others with whom we enter into joint marketing agreements for products or services that we believe you may find of interest. In addition we will disclose your Personal Information when you direct or give us permission, when we are required by law to�o so, or when we suspect fraudulent or criminal acZivities. We aTso may disclose your Personal Information when otherwise pernutted by applicable privacy laws such as, for example, when disclosure is needed to enforce our rights arising out of any agreement, transachon or relationship with you. One of the important responsibilities of some of our aff`iliated companies is to record documents in the public domain. Such documents may contain your Personal Information. Right to Access Your Personal Information and Ability to Correct Errors Or Request Changes Or Deletion Certain states at�'ord you the right to access your Personal Information and, under certain circumstances, to find out to whom your Personal Information has been disclosed. Also, certain states afford you the right to request correction, amendment or deletion of your Personal Information. We reserve the nght, where permitted by law, to charge a reasonable fee to cover the costs incurred in responding to such requests. All requests submitted to the Fidelity National Financial Group of Companies/Chicago Title Insurance Company shall be in writing, and delivered to the following address: Privacy Compliance Officer Fidelity National Financial, Inc. 4050 Calle Real, Suite 220 Santa Barbara, CA 93110 Multiple Products or Services If we provide you with more than one fmancial product or service,you may receive more than one privacy notice from us. We apologize for any inconvenience this may cause you. Fozm PRIV.POL.Q� Land Title Guarantee Company CUSTOMER DISTRIBUTION Land Tttle (iUARANTEECOMVANY Date: 02-22-2007 Our Order Number: VB50018107 Prnperty Address: 934 FRONTAGE ROAD VAIL, CO 81657 If you have any inquiries o�require fiu�t/�er assis!ance,please contact one of the numbers below: For Title Assistance: Vail Title Dept. Chris McElvany 108 S FRONTAGE RD W#203 VAIL, CO 81657 Phone: 970-476-2251 Fax: 970-476-4732 EMail: cmcelvany@itgc.com VAIL ASSOCIATES,INC.,A COLO CORP PO BOX 7 VAIL,CO 81658 Attn: GERRY ARNOLD Phone: 970-845-2658 Fax: 970-845-2555 EMail:gerrya@vailresorts.com Linked Commitment Delivery Land Title Guarantee Company M� '^ Date: 02-22-2007 �1 IU TtIG Our Order Number: VB50018107 (iUARANTEECUMYANY Property Address: 934 FRONTAGE ROAD VAIL, CO 81657 BuyerBorrower: THE VAIL CORPORATION, A COLORADO CORPORATION Seller/Owner: THE VAIL CORPORATION, A COLORADO CORPORATION Need a map or directions for your upcoming closing?Check out Land Tide's web site at www.ltgc.com for directions to an of our 54 office locations. ESTIMATE OF TITLE FEES Information Binder $158.00 If Land Title Gwarantee Company will be cloair.g this transaction, above fees rill be collected at thst time. TOTAL $158.00 ro�carrAC:os�a THANK YOU FOR YOUR ORDER! LAND TITLE GUARANTEE COMPANY ��T,� INVOICE (iUARANTEE COMVAIVY Owner: THE VAIL CORPORATION, A COLORADO CORPORATION Property Address: 934 FRONTAGE ROAD VAIL, CO 81657 Your Reference No.: When referring to this order, please reference our Order No. VB50018107 -CHARGES- Information Binder $158.00 --Total-- $158.00 Please make checks payable to: Land Tide Guarantee Company P.O. Box 5440 Denver, CO 80217 Chicago Tide Insurance Company ALTA COMMITMENT Onr Order No. VB50018107 Schedule A Cust. Ref.: Property Address: 934 FRONTAGE ROAD VAIL, CO 81657 1. Effective Date: February 02, 2007 at 5:00 P.M. 2. Policy to be Issued, and Proposed Insured: Information Binder Proposed Insured: THE VAIL CORPORATION, A COLORADO CORPORATION 3. The estate or interest in the land described or referred to in this Commitment and covered herein is: A Fee Simple 4. Tide to the estate or interest covered herein is at the ef�'ective date hereof vested in: THE VAIL CORPORATION, A COLORADO CORPORATION 5. The land referred to in this Commitment is described as follows: SEE ATTACHED PAGE(S) FOR LEGAL DESCRIPTIOIV Our Order No: VB50018107 LEGAL DESCRIPTION A PART OF THE NORTHEAST 1/4 NORTHEAST 1/4 OF SECTION 12, TOWNSHIP 5 SOUTH, RANGE 81 WEST OF THE 6TH P.M., DESCRIBED AS FOLLOWS: BEGINNING AT THE POINT OF INTERSECTION OF THE EAST LI1VE OF SAID SECTION 12 WITH THE SOUTHERLY RIGHT OF WAY LINE OF U.S. HIGHWAY N0. 6, SAID POIIVT BEING 634.15 FEET SOUTHERLY FROM THE NORTHEAST CORNER OF SAID SECTION 12; THENCE WESTERLY, ALOIVG THE SOUTHERLY RIGHT OF WAY LINE OF SAID HIGHWAY, A DISTANCE OF 240 FEET, MORE OR LESS, TO A POINT ON THE EAST HIGH WATER BANK OF RED SANDSTONE CREEK;THENCE SOUTHERLY, ALONG THE SINUOUSITIES OF SAID EAST HIGH WATER BANK, 200 FEET, MORE OR LESS, TO ITS INTERSECTION WITH THE NORTH HIGH WATER BANK OF GORE CREEK; THENCE EASTERLY, ALONG THE SINUOUSITIES OF THE NORTH HIGH WATER BA1VK OF GORE CREEK, 245 FEET, MORE OR LESS, TO ITS INTERSECTION WITH THE EAST LINE OF SAID SECTION 12; THENCE NORTHERLY, ALONG SAID EAST LINE, 160 FEET, MORE OR LESS, TO THE POINT OF BEGINNING, COUNTY OF EAGLE, STATE OF COLORADO. ALTA COMMITMENT Sche�ule B-Section 1 (Requirements) Our Order No. VB50018107 The following are the requirements to be complied with: Item (a) Payment to or for the account of the grantors or mortgagors of the full consideration for the estate or interestto be insured. Item (b) Proper instrument(s) creating the estate or interest to be insured must be executed and duly filed for record, to-wit: Item (c) Payment of all taxes, charges or assessments levied and assessed against the subject premises which are due and payable. Item (d) Additional requirements, if any disclosed below: This product is for informational purposes only and does not constitute any form of title guarantee nor insurance. The liability of the company shall not exceed the charge paid by the applicant for this product, nor shall the company be held liable to any party other than the applicant for this product. THIS COMMITMENT IS FOR INFORMATION ONLY, AND NO POLICY WILL BE ISSUED PURSUANT HERETO. ALTA COMMITMENT Schedule B- Section 2 (Exceptions) Our Order No. VB50018107 The policy or policies to be issued will contain exceptions to the following iuiless the same are disposed of to the sadsfaction of the Company: 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 azea, 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 theretofore or hereafter furnished, imposed by law and not shown by the public records. 5. Defects, liens, encumbrances, adverse claims or other matters, if any, created, first appearing in the public records or attaching subsequent to the effective date hereof but prior to the date the proposed insured acquires of record for value the estate or interest or mortgage thereon covered by this Commitment. 6. Taxes or special assessments which are not shown as existing liens by the public records.o the Treasurer's office. 7. Liens for unpaid water and sewer charges, if any.. 8. In addiflon, the owner's policy will be subject to the mortgage, if any, noted in Section 1 of Schedule B hereof. 9. RIGHT OF WAY FOR DITCHES OR CANALS COIVSTRUCTED BY THE AUTHORITY OF THE UNITED STATES AS RESERVED IN UNITED STATES PATENT RECORDED DECEMBER 29, 1920, IN BOOK 93 AT PAGE 42. 10. RIGHTS OF TENANTS UIVDER UNRECORDED LEASES. 11. ANY RIGHTS, INTERESTS OR EASEMENTS IN FAVOR OF THE STATE OF COLORADO, THE UNITED STATES OF AMERICA, OR THE GENERAL PUBLIC, WHICH EXIST OR ARE CLAIMED TO EXIST IN, OVER, UNDER AND/OR ACROSS THE WATERS AND PRESENT AIVD PAST BED AND BANKS OF THE RED SANDSTONE CREEK. 12. ANY RIGHTS, INTERESTS OR EASEMEIVTS IN FAVOR OF THE STATE OF COLORADO, THE UNITED STATES OF AMERICA, OR THE GENERAL PUBLIC, WHICH EXIST OR ARE CLAIMED TO EXIST IN, OVER, UNDER AND/OR ACROSS THE WATERS AND PRESENT AND PAST BED AND BANKS OF THE GORE CREEK. 13. TERMS, CONDITIONS AND PROVISIONS OF RELEASE AND RIGHT-OF-ENTRY RECORDED AUGUST 07, 2002 AT RECEPTION NO. 803774. ALTA COMMITMENT Schedule B -Section 2 (Exceptions) Our Order No. VB50018107 The policy or policies to be issued will contain exceptions to the following unless the same are disposed of to the satisfaction of the Company: 14. TERMS, CONDITIOIVS AND PROVISIONS OF RIGHT OF REFUSAL AS COIVTAINED IN UNRECORDED DEALER SUPPLY AGREEMENT. 15. TERMS, CONDITIONS, PROVISIOIVS A1VD RESTRICTIONS AS CONTAINED IN SPECIAL WARRANTY DEED RECORDED AUGUST 07, 2002 AT RECEPTION NO. 803775. NOTE: THE POLICY OF TITLE INSURAIVCE WILL INCLUDE AN ARBITRATION PROVISION. THE COMPANY OR THE IIVSURED MAY DEMAND ARBITRATION. ARBITRABLE MATTERS MAY INCLUDE, BUT ARE NOT LIMITED T0, ANY CONTROVERSY OR CLAIM BETWEEN THE COMPANY AND THE INSURED ARISING OUT OF OR RELATING TO THIS POLICY, ANY SERVICE OF THE COMPANY IIV CONIVECTION WTTH ITS ISSUANCE OR THE BREACH OF A POLICY PROVISION OR OTHER OBLIGATIOIV. PLEASE ASK YOUR ESCROW OR TITLE OFFICER FOR A SAMPLE COPY OF THE POLICY TO BE ISSUED IF YOU WISH TO REVIEW THE ARBITRATIOIV PROVISIONS AND ANY OTHER PROVISIONS PERTAINING TO YOUR TITLE INSURANCE COVERAGE. LAND TITLE GUARANTEE COMPANY and LAND TITLE GUARANTEE COMPANY-GRAND JUNCTION DISCLOSURE STATEMEIVTS Note: Pursuant to CRS 10-11-122, notice is hereby given that: A) The subject real property may be located in a special taxing district. B) A Certificate of Taxes Due listing each taxing jurisdiction may be obtained from the County Treasurer's authorized agent. C) The information regarding special districts and the boundaries of such districts may be obtained from the Board of County Commissioners, the County Clerk and Recorder, or the County Assessor. Note: Effecflve September 1, 1997, CRS 30-10-406 requires that all documents received for recording or filing in the clerk and recorder's office shall contain a top margin of at least one inch and a left, right and bottom margin of at least one half of an inch. The clerk and recorder may refuse to record or file any document that does not conform, except that, the requirement for the top margin shall not apply to documents using forms on which space is provided for recording or filing informaflon at the top margin of the document. Note: Colorado Division of Insurance Regulations 3-5-1, Paragraph C of Article VII requires that "Every tide entity shall be responsible for all matters which appear of record prior to the time of recording whenever the tide entity conducts the closing and is responsible for recording or filing of legal documents resulting from the transaction which was closed". Provided that Land Title Guarantee Company conducts the closing of the insured transaction and is responsible for recording the legal documents from the transaction, exception number 5 will not appear on the Owner's Title Policy and the Lenders Policy when issued. Note: Aff'u�mative mechanic's lien protection for the Owner may be available (typically by deletion of Exception no. 4 of Schedule B, Section 2 of the Commitment from the Owner's Policy to be issued) upon compliance with the following conditions: A) The land described in Schedule A of this commitment must be a single family residence which includes a condominium or townhouse unit. B) 1Vo labor or materials have been furnished by mechanics or material-men for purposes of construction on the land described in Schedule A of this Commitment within the past 6 months. C) The Company must receive an appropriate affidavit indemnifying the Company against un-filed mechanic's and material-men's liens. D)The Company must receive payment of the appropriate premium. E) If there has been construcflon, improvements or major repairs undertaken on the property to be purchased within six months prior to the Date of the Commitment, the requirements to obtain coverage for unrecorded liens will include: disclosure of certain construction information; financial information as to the seller, the builder and or the contractor; payment of the appropriate premium fully executed Indemnity Agreements saflsfactory to the company, and, any additional requirements as may be necessary after an examination of the aforesaid information by the Company. No coverage will be given under any circumstances for labor or material for which the insured has contracted for or agreed to pay. Note: Pursuant to CRS 10-11-123, notice is hereby given: This notice applies to owner's policy commitnents containing a mineral severance instrument exception, or exceptions, in Schedule B, Section 2. A) That there is recorded evidence that a mineral estate has been severed, leased, or otherwise conveyed from the surface estate and that there is a substantial likelihood that a third party holds some or all interest in oil, gas, other minerals, or geothermal energy in the property; and B)That such mineral estate may include the right to enter and use the property without the surface owner's permission. Nothing herein contained will be deemed to obligate the company to provide any of the coverages referred to herein unless the above conditions are fully satisfied. Foxm DISQAS[JRE 09/Ol/02 JOINT NOTICE OF PRIVACY POLICY Fidelity National Financial Group of Companies/Chicago Title Insurance Company Securtty Union Tide Insurance Company and Land Tide Guarantee Company and Land Tide Guarantee Company-Grand Junction JWy 1, 2ooi We recognize and r�e�spect the privacy expectations of today's consumers and the requirements of applicable federal and state privacx laws. Vve believe that making you aware of how we use your non-pubIic personal information ("Personal Information'), and to whom it is disclosed, will form the basis for a relationship of trust between us and the public that we serve. This Privacy Statement provides that explanation. We reserve the right to change tlris Privacy Statement from time to time consistent with applicable privacy laws. In the course of our business, we may coilect�ersonal Information about you from the following sources: * From applications or other forms we receive from you or your authorized representative; * From your transactions with, or from the services being performed by, us, our affiliates, or others; * From our internet web sites; * From the public records maintained by governmental entities that we either obtain direcdy from those entities, or from our affiliates or others; and * From consumer or other reporting agencies. Our Policies Regarding the Protection of the Confidentiality and Security of Your Personal Information We maintain physical, electronic and procedural safeguards to protect your Personal Information from unauthorized access or intrusion. We limit access to the Personal Information only to those employees who need such access in connection with providing products or services to you or for other legitimate busmess purposes. Our Policies and Practices Regarding the Sharing of Your Personal Information We may share your Personal Information with our aff`iliates, such as insurance companies, agents, and other real estate setdement service providers. We also may disclose your Personal Information: * to a ents, brokers or representatives to provide you with services you have requested; * to�d-party contractors or service providers who provide services or perform marketing or other fimcflons on our behalf; and * to oWers with whom we enter into joint marketing agreements for products or services that we believe you may fmd of interest. In addition we will disclose your Personal Information when you direct or�ve us permission, when we are required by law to�o so, or when we suspect fraudulent or criminal aciivities. We al"so may disclose your Personal Information when otherwise permitted by applicable privacy laws such as, for example, when disclosure is needed to enforce our rights arising out of any agreement, transaction or relationship with you. One of the important responsibilities of some of our affiliated companies is to record documents in the public domain. Such documents may contain your Personal Information. Right to Access Your Personal Information and Ability to Conect Errors Or Request Changes Or Deletion Certain states at�ord you the right to access your Personal Information and, under certain circumstances, to find out to whom your Personal Information has been disclosed. Also, certain states afford you the right to request correction, amendment or deletion of your Personal Information. We reserve the nght, where permitted by law, to charge a reasonable fee to cover the costs incurred in responding to such requests. All requests submitted to the Fidelity National Financial Group of Companies/Chicago Title Insurance Company shall be in writing, and delivered to the following address: Privacy Compliance Officer Fidelity National Financial, Inc. 4050 Calle Real, Suite 220 Santa Barbara, CA 93110 Multiple Products or Services If we provide you with more than one fmancial product or service, you may receive more than one privacy notice from us. We apologize for any inconvenience this may cause you. Fo2m PRIV.POL.(I�II Land Title Guarantee Company CUSTOMER DISTRIBUTION Land Title GUARANTEECUMVANY Date: 02-22-2007 Our Order Number: VB50018109 Property Address: 953 FRONTAGE ROAD VAIL, CO 81657 If you have any inqiriries or require further assistance,please contact one of'the numbers below: For Tide Assistance: Vail Tide Dept. Chris McElvany 108 S FRONTAGE RD W#203 VAIL, CO 81657 Phone: 970-476-2251 Fax: 970-476-4732 EMail: cmcelvany@ltgc.com VAIL ASSOCIATFS,INC.,A COLO CORP PO BOX 7 VAIL,CO 81658 Atm: GERRY ARNOLD Phone: 970-845-2658 Fax: 970-845-2555 EMail:gerrya@vailresorts.com Linked Commitrnent Delivery Land Tide Guarantee Company Date: 02-22-2007 ��T� Our Order Number: VB50018109 (iUARANTEECOMVANY Property Address: 953 FRONTAGE ROAD VAIL, CO 81657 BuyerBorrower: SOHO DEVELOPMENT LLC, A COLORADO LIMITED LIABILITY COMPANY Seller/Owner: SOHO DEVELOPMENT LLC, A COLORADO LIMITED LIABILITY COMPANY Need a map or directions for your upcoming closing?Check out Land Tide's web site at www.ltgc.com for directions to an of our 54 office locations. ESTIMATE OF TITLE FEES Information Binder $158.00 Zf Land Title Guaraatee Company rill be cloaing this transaction, above feea vill be col2ected at that time. TOTAL $158.00 roa c«rracr os�o. THANK YOU FOR YOUR ORDER! LAND TITLE GUARANTEE COMPANY INVOICE Land Title (il1ARANTEE C(MIVANY Owner: SOHO DEVELOPMENT LLC, A COLORADO LIMITED LIABILIT'Y COMPANY Property Address: 953 FRONTAGE ROAD VAIL, CO 81657 Your Reference No.: When referring to this order, please reference our Order No. VB50018109 -CHARGES- Information Binder $158.00 --Total-- $158.00 Please make checks payable to: Land Title Guarantee Company P.O. Box 5440 Denver, CO 80217 Chicago Tide Insurance Company ALTA COMMITMENT Our Order No. VB50018109 Schedule A Cust. Ref.: Prnperty Address: 953 FRONTAGE ROAD VAIL, CO 81657 1. Effective Date: February 02, 2007 at 5:00 P.M. 2. Policy to be Issued, and Proposed Insured: Information Binder Proposed Insured: SOHO DEVELOPMENT LLC, A COLORADO LIMITED LIABILITY COMPANY 3. The estate or interest in the land described or referred to in this Commitment and covered herein is: A Fee Simple 4. Tide to the estate or interest covered herein is at the effective date hereof vested in: SOHO DEVELOPMENT LLC, A COLORAAO LIMITED LIABILITY COMPANY 5. The land referred to in this Commitment is described as follows: SEE ATTACHED PAGE(S) FOR LEGAL DESCRIPTION Our Order No: VB50018109 LEGAL DESCRIPTION PARCEL :1 A PARCEL OF LAND SITUATED IN A PART OF THE NEl/4 OF THE NE1/4 OF SECTION 12, TOWNSHIP 5 SOUTH, RANGE 81 WEST OF THE SIXTH PRINCIPAL MERIDIAN, TOWN OF VAIL, COUNTY OF EAGLE, STATE OF COLORADO, SAID PARCEL BEIIVG MORE PARTICULARLY DESCRIBED AS FOLLOWS: BEGINNING AT THE SOUTHWESTERLY CORIVER OF TRACT A, SOUTH FRONTAGE ROAD SUBDMSIOIV, PER THE PLAT THEREOF RECORDED NOVEMBER 6, 2000, UNDER RECEPTION NO. 743424 IN THE OFFICE OF THE EACLE COUNTY CLERK AND RECORDER, SAID CORNER ALSO BEING THE NORTHERLY RIGHT OF WAY OF THE SOUTH FRONTAGE ROAD OF INTERSTATE HIGHWAY NUMBER 70; THENCE ALONG SAID NORTHERLY RIGHT OF WAY S. 73 DEGREES 37 MINUTES 52 SECONDS W. 200.00 FEET; THENCE DEPARTING SAID NORTHERLY RIGHT OF WAY N. 16 DEGREES 51 MINUTES 09 SECONDS W. 158.18 FEET TO A POINT OIV THE SOUTHERLY RIGHT OF WAY OF INTERSTATE HIGHWAY NUMBER 70; THENCE ALONG SAID SOUTHERLY RIGHT OF WAY N. 59 DEGREES 28 MINUTES 16 S�CONDS E. 274.19 FEET TO THE NORTHWESTERLY CORNER OF INTERSTATE HIGHWAY NUMBER 70 PARCEL 26B; THENCE DEPARTING SAID SOUTHERLY RIGHT OF WAY AND ALONG THE WESTERLY BOUNDARY OF SAID PARCEL 26B S. 10 DEGREES 36 MINUTES 52 SECONDS W. 31.26 FEET TO THE SOUTHWESTERLY CORNER OF SAID PARCEL 26B, SAID POINT ALSO BEING THE NORTHWESTERLY CORNER OF SAID TRACT A; THENCE ALONG THE WESTERLY BOUNDARY OF SAID TRACT A S. 10 DEGREES 45 MINUTES 05 SECONDS W. 34.40 FEET; THENCE CONTINUIIVG ALONG SAID BOUIVDARY S. 04 DEGREES 37 MWUTES 43 SECONDS E. 170.34 FEET TO THE POINT OF BEGINNING, COUIVTY OF EAGLE, STATE OF COLORADO. PARCEL 2: EASEMENT FOR INGRESS AND EGRESS AS CREATED BY COMBINATION RELEASE OF EXISTING EASEMENTS AND CREATION OF 1VEW(:ROSS EASEMENT AGREEMENT RECORDED DECEMBER 13, 1989 IN BOOK 519 AT PAGE 619, COUNTY OF EAGLE, STATE OF COLORADO. ALTA COMMITMENT Schedule B-Section 1 (Requirements) Our Order No. VB50018109 The following are the requirements to be complied with: Item (a) Payment to or for the account of the grantors or mortgagors of the full consideration for the estate or interest to be insured. Item (b) Proper instrument(s) creating the estate or interest to be insured must be executed and duly filed for record, to-wit: Item (c) Payment of all taxes, charges or assessments levied and assessed against the subject premises which are due and payable. Item (d)Additional requirements, if any disclosed below: This product is for informational purposes only and does not constitute any form of tide guarantee nor insurance. The liability of the company shall not exceed the charge paid by the applicant for this product, nor shall the company be held liable to any party other than the applicant for this product. THIS COMMITMENT IS FOR INFORMATION O1VLY, AND NO POLICY WILL BE ISSUED PURSUANT HERETO. ALTA COMMITMENT Schedule B-Section 2 (Exceptions) Our Order No. VB50018109 The policy or policies to be issued will contain exceptions to the following unless the same are disposed of to the satisfaction of the Company: 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 conect 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 theretofore or hereafter furnished, imposed by law and not shown by the public records. 5. Defects, liens, encumbrances, adverse claims or other matters, if any, created, first appearing in the public records or attaching subsequent to the effec8ve date hereof hut prior to the date the proposed insured acquires of record for value the estate or interest or mortgage thereon covered by this Commitment. 6. Taxes or special assessments which are not shown as exisring liens by the public records.o the Treasurer's office. 7. Liens for unpaid water and sewer charges, if any.. 8. In addition, the owner's policy will be subject to the mortgage, if any, noted in Section 1 of Schedule B hereof. 9. RIGHT OF PROPRIETOR OF A VEIN OR LODE TO EXTRACT AND REMOVE HIS ORE THEREFROM SHOULD THE SAME BE FOUIVD TO PENETRATE OR IIVTERSECT THE PREMISES AS RESERVED IN UNITED STATES PATENT RECORDED DECEMBER 29, 1920, IN BOOK 93 AT PAGE 42. 10. RIGHT OF WAY FOR DITCHES OR CANALS CONSTRUCTED BY THE AUTHORITY OF THE UNITED STATES AS RESERVED W UNITED STATES PATENT RECORDED DECEMBER 29, 1920, IN BOOK 93 AT PAGE 42. 11. ANY RIGHTS, INTERESTS OR EASEMENTS IN FAVOR OF THE STATE OF COLORADO, THE UNTTED STATES OF AMERICA, OR THE GENERAL PUBLIC, WHICH EXIST OR ARE CLAIMED TO EXIST IN, OVER, UNDER AND/OR ACROSS THE WATERS AND PRESEIVT AND PAST BED AND BANKS OF THE RED SAIVDSTONE CREEK. 12. TERMS, CONDITIONS AND PROVISIONS OF RIGHT OF WAY EASEMENT RECORDED JULY 09, 1984 IN BOOK 388 AT PAGE 756. 13. TERMS, CONDITIONS AND PROVISIONS OF COMBINATION RELEASE OF EXISTING EASEMENTS AND CREATION OF IVEW CROSS EASEMENT AGREEMENT RECORDED DECEMBER 13, 1989 IN BOOK 519 AT PAGE 619. ALTA COMMITMENT Schedule B - Section 2 (Exceptions) Our Order No. VB50018109 The policy or policies to be issued will contain exceptions to the following unless the same are disposed of to the satisfaction of the Company: 14. TERMS, CONDITIONS AND PROVISIONS OF CONVEYANCE OF EASEMENT RECORDED JUNE 25, 1991 IN BOOK 556 AT PAGE 702 AND RERECORDED AUGUST 29, 1991 IN BOOK 561 AT PAGE 191. 15. LACK OF A DIRECT ACCESS ON AND TO INTERSTATE HIGHWAY 70, WHICH ABUTS SUBJECT PROPERTY. 16. EXISTING LEASES AND TENANCIES. 17. THE EFFECT OF LANDSCAPING AND CURB A1VD GUTTER LYING WITHIN THE FRONTAGE ROAD RIGHT OF WAY AS SHOWN ON IMPROVEMEIVT LOCATIOIV CERTIFICATE PREPARED BY GORE RANGE SURVEYING, LLC DATED JUNE 9, 2005 JOB N0. 02-008. NOTE: THE POLICY OF TITLE INSURANCE WILL INCLUDE AN ARBITRATIOIV PROVISIOIV. THE COMPANY OR THE INSURED MAY DEMAIVD ARBITRATION. ARBITRABLE MAT"fERS MAY INCLUDE, BUT ARE NOT LIMITED T0, ANY CONTROVERSY OR CLAIM BETWEEN THE COMPANY AND THE INSURED ARISING OUT OF OR RELATING TO THIS POLICY, ANY SERVICE OF THE COMPANY IN CONNECTIOIV WITH ITS ISSUANCE OR THE BREACH OF A POLICY PROVISION OR OTHER OBLIGATION. PLEASE ASK YOUR ESCROW OR TITLE OFFICER FOR A SAMPLE COPY OF THE POLICY TO BE ISSUED IF YOU WISH TO REVIEW THE ARBITRATION PROVISIONS AND ANY OTHER PROVISIONS PERTAINING TO YOUR TITLE INSURANCE COVERAGE. LAND TITLE GUARANTEE COMPANY and LAND TITLE GUARANTEE COMPANY-GRAND JUNCTION DISCLOSURE STATEMENTS Note: Pursuant to CRS 10-11-122, notice is hereby given that: A) The subject real property may be located in a special taxing district. B) A Certificate of Taxes Due listing each taxing jurisdiction may be obtained from the County Treasurer's authorized agent. C) The information regarding special districts and the boundaries of such districts may be obtained from the Board of County Commissioners, the County Clerk and Recorder, or the County Assessor. Note: Effective September 1, 1997, CRS 30-10-406 requires that all documents received for recording or filing in the clerk and recorder's office shall contain a top margin of at least one inch and a left, right and bottom margin of at least one half of an inch. The clerk and recorder may refuse to record or file any document that does not conform, except that, the requirement for the top margin shall not apply to documents using forms on which space is provided for recording or filing information at the top margin of the document. Note: Colorado Division of Insurance Regulations 3-5-1, Paragraph C of Article VII requires that "Every tide enflty shall be responsible for all matters which appear of record prior to the time of recording whenever the tide entity conducts the closing and is responsible for recording or filing of legal documents resulting from the transaction which was closed". Provided that Land Title Guarantee Company conducts the closing of the insured transaction and is responsible for recording the legal documents from the transaction, exception number 5 will not appear on the Owner's Tide Policy and the Lenders Policy when issued. Note:Affirmative mechanic's lien protection for the Owner may be available (typically by deletion of Exception no. 4 of Schedule B, Section 2 of the Commitment from the Owner's Policy to be issued) upon compliance with the following conditions: A)The land described in Schedule A of this commitment must be a single family residence which includes a condominium or townhouse unit. B) No labor or materials have been fumished by mechanics or material-men for purposes of construction on the land described in Schedule A of this Commitment within the past 6 months. C) The Company must receive an appropriate aftidavit indemnifying the Company against un-filed mechanic's and material-men's liens. D)The Company must receive payment of the appropriate premium. E) If there has been construction, improvements or major repairs undertaken on the property to be purchased within six months prior to the Date of the Commitment, the requirements to obtain coverage for unrecorded liens will include: disclosure of certain construction information; financial information as to the seller, the builder and or the contractor; payment of the appropriate premium fully executed Indemnity Agreements satisfactory to the company, and, any additional requirements as may be necessary after an examination of the aforesaid information by the Company. No coverage will be given under any circumstances for labor or material for which the insured has contracted for or agreed to pay. Note: Pursuant to CRS 10-11-123, notice is hereby given: This notice applies to owner's policy commitments containing a mineral severance instrument exception, or exceptions, in Schedule B, Section 2. A) That there is recorded evidence that a mineral estate has been severed, leased, or otherwise conveyed from the surface estate and that there is a substantial likelihood that a third party holds some or all interest in oil, gas, other minerals, or geothermal energy in the property; and B) That such mineral estate may include the right to enter and use the property without the surface owner's permission. Nothing herein contained will be deemed to o�ligate the company to provide any of the coverages refened to herein unless the above conditions are fully satisfied. Form DISCSASURE 09/Ol/02 JOINT NOTICE OF PRIVACY POLICY Fidelity National Financial Group of Companies/Chicago Title Insurance Company Security Union Tide Insurance Company and Land Title Guarantee Company and Land Title Guarantee Company-Grand Junction Jwy 1, 2001 We recognize and r�e�sp ect the privacy expectations of today's consumers and the requirements of applicable federal and state privac�laws. We believe that making you aware of how we use your non-pubTic personal information ("Personal Information'), and to whom it is disclosed, will form the basis for a relationship of trust between us and the public that we serve. This Privacy Statement provides that explanation. We reserve the right to change this Privacy Statement from time to time consistent with applicable privacy laws. In the course of our business, we may coliect Personal Information about you from the following sources: * From applications or other forms we receive from you or your authorized representative; * From your transactions with, or from the services being performed by, us, our affiliates, or others; * From our internet web sites; * From the public records maintained by governmental entities that we either obtain direcdy from those entities, or from our affiliates or others; and * From consumer or other reporting agencies. Our Policies Regarding the Protection of the Confidentiality and Security of Your Personal Information We maintain physical, electronic and procedural safeguards to protect your Personal Informaflon from unauthorized access or intrusion. We limit access to the Personal Information only to those employees who need such access in connection with providing products or services to you or for other legitimate business purposes. Our Policies and Practices Regarding the Sharing of Your Personal Information We may share your Personal Information with our affiliates, such as insurance companies, agents, and other real estate settlement service providers. We also may disclose your Personal Information: * to ag ents, brokers or representatives to provide you with services you have requested; * to tturd-party contractors or service providers who provide services or perform marketing or other funcflons on our behalf; and * to others with whom we enter into joint marketing agreements for products or services that we believe you may fmd of interest. In addition,we will disclose your Personal Information when you direct or ve us permission, when we are required by law to do so, or when we suspect fraudulent or criminal ac�ivities. We�o may disclose your Personal Information when otherwise permitted by applicable privacy laws such as, for example, when disclosure is needed to enforce our rights arising out of any agreement, transact�on or relationship with you. One of the important responsibilities of some of our affiliated companies is to record documents in the public domain. Such documents may contain your Personal Information. Right to Access Your Personal Information and Ability to Correct Errors Or Request Changes Or Deletion Certain states af'ford you the right to access your Personal Information and, under certain circumstances, to find out to whom your Personal Information has been di�closed. Also, certain states afford you the right to request conection, amendment or deletion of your Personal Information. We reserve the nght, where permitted by law, to charge a reasonable fee to cover the costs incurred in responding to such requests. All requests submitted to the Fidelity National Financial Group of Companies/Chicago Title Insurance Company shall be in writing, and delivered to the following address: Privacy Compliance Officer Fidelity National Financial, Inc. 4050 Calle Real, Suite 220 Santa Barbara, CA 93110 Multiple Products or Services If we provide you with more than one financial product or service, you may receive more than one privacy notice from us. We apologize for any inconvenience this may cause you. Fbzm PRIV.POL.Q� Land Title Guarantee Company CUSTOMER DISTRIBUTION Land Title (il1ARAN7EE WMYANY Date: 02-22-2007 Our Order Number: VB50018110 Property Address: 1031 FRONTAGE RD If you have any inquiries or require fart/rer assistance,please contact one of the numbers below: For Tide Assistance: Vail Tide Dept. Chris McElvany 108 S FRONTAGE RD W#203 VAIL, CO 81657 Phone: 970-476-2251 Fax: 970-476-4732 EMail: cmcelvany@ltgc.com VAIL ASSOCIATES,INC.,A COLO CORP PO BOX 7 VAIL,CO 81658 Attn: GERRY ARNOLD Phone: 970-845-2658 Fax: 970-845-2555 EMail:gerrya@vailresorts.com Linked Commitrnent Delivery Land Title Guarantee Company Date: 02-22-2007 ��T� Our Order Number: VB50018110 (:IIARANTEE CUMVANY Prnperty Address: 1031 FRONTAGE RD BuyerBorrower: SOHO DEVELOPMENT LLC, A COLORADO LIMITED LIABILITY COMPANY Seller/Owner: SOHO DEVELOPMENT LLC, A COLORADO LIMITED LIABILITY COMPANY Need a map or directions for your upcoming closing?Check out Land Title's web site at www.ltgc.com for directions to an of our 54 office locations. ESTIMATE OF TITLE FEES Information Binder $158.00 IF I.aad Title Guarantee Company irill be cloaing this transactioa, above feea �ri.11 be collacted at that time. TOTAL $158.00 fea CdiTACT 06/0� THANK YOU FOR YOUR ORDER! LAND TITLE GUARANTEE COMPANY Land Title INVOICE GUARANTEECWNVANT Owner: SOHO DEVELOPMENT LLC, A COLORADO LIMITED LIABILIT'Y COMPANY Property Address: 1031 FRONTAGE RD Your Reference No.: When referring to this order, please reference our Order No. VB50018110 -CHARGES- Information Binder $158.00 --Total-- $158.00 Please make checks payable to: Land Tide Guarantee Company P.O. Box 5440 Denver, CO 80217 Chicago Tide Insurance Company ALTA COMMITMENT Our Order No. VB50018110 Schedule A Cust. Ref.: Property Address: 1031 FRONTAGE RD 1. Effective Date: February 02, 2007 at 5:00 P.M. 2. Policy to be Issued, and Proposed Insured: Information Binder Proposed Insured: SOHO DEVELOPMENT LLC, A COLORADO LIMITED LIABILITY COMPANY 3. The estate or interest in the land described or referred to in this Commitment and covered herein is: A Fee Simple 4. Title to the estate or interest covered herein is at the effective date hereof vested in: SOHO DEVELOPMENT LLC, A COLORADO LIMITED LIABILITY COMPANY 5. The land referred to in this Commitment is described as follows: SEE ATTACHED PAGE(S) FOR LEGAL DESCRIPTION Our Order No: VB50018110 LEGAL DESCRIPTION PARCEL 1: A PARCEL OF LAND SITUATED IN A PART OF THE NEl/4 OF THE NEl/4 OF SECTION 12, TOWNSHIP 5 SOUTH, RANGE 81 WEST OF THE SIXTH PRINCIPAL MERIDIAN, TOW1V OF VAIL, COUNTY OF EAGLE, STATE OF COLORADO, SAID PARCEL BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS; BEGINNING AT THE SOUTHWESTERLY CORNER OF TRACT A, SOUTH FRONTAGE ROAD SUBDIVISION, PER THE PLAT THEREOF RECORDED NOVEMBER 6, 2000, UNDER RECEPTION N0. 743424 IN THE OFFICE OF THE EAGLE COUNTY CLERK AND RECORDED, SAID CORNER ALSO BEING OIV THE NORTHERLY RIGHT OF WAY OF THE SOUTH FRONTAGE ROAD OF INTERSTATE HIGHWAY NUMBER 70; THENCE ALONG SAID NORTHERLY RIGHT OF WAY SOUTH 73 DEGREES 37 MINUTES 52 SECONDS WEST 200.00 FEET TO THE TRUE POINT OF BEGINNING; THENCE CONTINUING ALONG SAID NORTHERLY RIGHT OF WAY SOUTH 73 DEGREES 37 MINUTES 52 SECONDS WEST 519.60 FEET TO THE POINT OF INTERSECTION OF SAID NORTHERLY RIGHT OF WAY AND THE SOUTHERLY RIGHT OF WAY OF INTERSTATE HIGHWAY NUMBER 70; THENCE DEPARTIIVG SAID NORTHERLY RIGHT OF WAY NORTH 53 DEGREES 51 MINUTES 29 SECONDS EAST 246.03 FEET ALOIVG THE SOUTHERLY RIGHT OF WAY OF INTERSTATE HIGHWAY NUMBER 70; THENCE CONTINUING ALONG SAID SOUTHERLY RIGHT OF WAY NORTH 58 DEGREES 53 MINUTES 10 SECONDS EAST 247.30 FEET; THENCE NORTH 59 DEGREES 28 MINUTES 16 SECOIVDS EAST 49.07 FEET; THENCE DEPARTIIVG SAID SOUTHERLY RIGHT OF WAY SOUTH 16 DEGREES 51 MINUTES 09 SECOIVDS EAST 158.18 FEET TO THE TRUE POINT OF BEGINNING. PARCEL 2: EASEMENT FOR INGRESS AND EGRESS AS CREATED BY COMBINATION RELEASE OF EXISTING EASEMEIVTS AND CREATION OF NEW CROSS EASEMENT AGREEMENT RECORDED DECEMBER 13, 1989 IN BOOK 519 AT PAGE 619, COUNTY OF EAGLE, STATE OF COLORADO. ALTA COMMITMEIVT Schedule B-Section 1 (Requirements) Our Order No. VB50018110 The following are the requirements to be complied with: Item (a) Payment to or for the account of the grantors or mortgagors of the full consideration for the estate or interestto be insured. Item (b) Proper instrument(s) creating the estate or interest to be insured must be executed and duly filed for record, to-wit: Item (c) Payment of all taxes, charges or assessments levied and assessed against the subject premises which are due and payable. Item (d) Additional requirements, if any disclosed below: This product is for informational purposes only and does not constitute any form of title guarantee nor insurance. The liability of the company shall not exceed the charge paid by the applicant for this product, nor shall the company be held liable to any party other than the applicant for this product. THIS COMMITMEIVT IS FOR INFORMATION ONLY, AND 1V0 POLICY WILL BE ISSUED PURSUAIVT HERETO. Land Title Guarantee Company CUSTOMER DISTRIBUTION Land Ttle GUARANTEECOMVANY Date: 02-22-2007 Our Order Number: VB50018106 Property Address: RED SANDSTONE ROAD PARCEL, 127/565 VAIL, CO 81657 Ifyoa have any inquiries or require further assistance,please contact one of the numbers below: For Tide Assistance: Vail Tide Dept. Chris McElvany 108 S FRONTAGE RD W#203 VAIL, CO 81657 Phone: 970-476-2251 Fax: 970-476-4732 EMail: cmcelvany@itgc.com VAIL ASSOCIATES,WC.,A COLO CORP PO BOX 7 VAIL,CO 81658 Attn: GERRY ARNOLD Phone: 970-845-2658 Fax: 970-845-2555 EMail:gerrya@vailresorts.com Linked Commitment Delivery Land Title Guarantee Company Date: 02-22-2007 ��Tt� Our Order Number: VB50018106 (il1ARAN7EE GUMVANY Prnperty Address: RED SANDSTONE ROAD PARCEL, 127/565 VAIL, CO 81657 BuyerBorrower: THE VAIL CORPORATION, A COLORADO CORPORATION Seller/Owner: THE VAIL CORPORATION, A COLORADO CORPORATION Need a map or directions for your upcoming closing?Check out Land Title's web site at www.ltgc.com for directions to an of our 54 office locations. ESTIMATE OF TITLE FEES Information Binder $158.00 If Land Title Gwarantee Co�pany vill be closing thia tranasetion, above feea nill be collected at that ti.me. TOTAL $158.00 rba car�acx os�o. THANK YOU FOR YOUR ORDER! LAND TITLE GUARANTEE COMPANY INVOICE Land Title GUARAN7EE C(MIVANY Owner: THE VAIL CORPORATION, A COLORADO CORPORATION Property Address: RED SANDSTONE ROAD PARCEL, 127/565 VAIL, CO 81657 Your Reference No.: When referring to this order, please reference our Order No. VB50018106 - CHARGES- Information Binder $158.00 --Total-- $158.00 Please make checks payable to: Land Tide Guarantee Company P.O. Box 5440 Denver, CO 80217 Chicago Tide Insurance Company ALTA COMMITMENT Our Order No. VB50018106 Schedule A Cust. Ref.: Property Address: RED SANDSTONE ROAD PARCEL, 127/565 VAIL, CO 81657 1. Effective Date: February 02, 2007 at 5:00 P.M. 2. Policy to be Issued, and Proposed Insured: Information Binder Proposed Insured: THE VAIL CORPORATION, A COLORADO CORPORATION 3. The estate or interest in the land described or referred to in this Commitment and covered herein is: A Fee Simple 4. Tide to the estate or interest covered herein is at the effective date hereof vested in: THE VAIL CORPORATION, A COLORADO CORPORATION 5. The land refened to in this Commitment is described as follows: THAT PART OF THE PARCEL DESCRIBED IN RIGHT-OF-WAY DEED RECORDED IN BOOK 127 AT PAGE 565, APRIL 2, 1943 LYING BETWEEN THE SOUTHERLY RIGHT-OF-WAY FOR INTERSTATE HIGHWAY 70 AND THE NORTHERLY RIGHT-OF-WAY FOR SOUTH FRONTAGE RD, FORMERLY U.S. HIGHWAY 6. NOTE: SAID PARCEL WAS VACATED AS PUBLIC RIGHT-OF-WAY BY ORDINANCE NO. 32, SERIES OF 2004 RECORDED MARCH 10, 2005 AT RECEPTION N0. 908755 COUNTY OF EAGLE, STATE OF COLORADO. ALTA COMMITMENT Schedule B -Section 1 (Requirements) Our Order No. VB50018106 The following are the requirements to be complied with: Item (a) Payment to or for the account of the grantors or mortgagors of the full consideration for the estate or interestto be insured. Item (b) Proper instrument(s) creating the estate or interest to be insured must be executed and duly filed for record, to-wit: Item (c) Payment of all taxes, charges or assessments levied and assessed against the subject premises which are due and payable. Item (d) Additional requirements, if any disclosed below: This product is for informational purposes only and does not constitute any form of title guarantee nor insurance. The liability of We company shall not exceed the charge paid by the applicant for this product, nor shall the company be held liable to any party other than the applicant for this product. THIS COMMITMENT IS FOR INFORMATION ONLY, AND 1V0 POLICY WILL BE ISSUED PURSUANT HERETO. ALTA COMMITMENT Schedule B-Section 2 (Exceptions) Our Order No. VB50018106 The policy or policies to be issued will contain exceptions to the following unless the same are disposed of to the satisfaction of the Company: 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 conect 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 theretofore or hereafter furnished, imposed by law and not shown by the public records. 5. Defects, liens, encumbrances, adverse claims or other matters, if any, created, first appearing in the public records or attaching subsequent to the effective date hereof but prior to the date the proposed insured acquires of record for value the estate or interest or mortgage thereon covered by this Commitment. 6. Taxes or special assessments which are not shown as existing liens by the public records.o the Treasurer's office. 7. Liens for unpaid water and sewer charges, if any.. 8. In addirion, the owner's policy will be subject to the mortgage, if any, noted in Section 1 of Schedule B hereof. 9. 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 PATEIVT RECORDED DECEMBER 29, 1920, IN BOOK 93 AT PAGE 42. 10. RIGHT OF WAY FOR DITCHES OR CANALS CONSTRUCTED BY THE AUTHORITY OF THE UNITED STATES AS RESERVED I1V UIVITED STATES PATENT RECORDED DECEMBER 29, 1920, IlV BOOK 93 AT PAGE 42. 11. WATER AND WATER RIGHTS, DITCH AND DITCH RIGHTS, WHETHER OR NOT OF PUBLIC RECORD. 12. EASEMENT AND RIGHT OF WAY FOR RED SANDSTOIVE CREEK. 13. EASEMENT AS RESERVED BY HOLY CROSS ELECTRIC ASSOCIATION, INC. IN DEED RECORDED FEBRUARY 21, 1995 IN BOOK 661 AT PAGE 743. 14. TERMS, CONDITIONS AND PROVISIOIVS OF GORE CREEK PLACE DEVELOPMENT AGREEMENT RECORDED MARCH 10, 2005 AT RECEPTION NO. 908751. ALTA COMMITMENT Schedule B-Section 2 (Exceptions) Our Order No. VB50018106 The policy or policies to be issued will contain exceptions to the following unless the same are disposed of to the satisfaction of the Company: 15. TERMS, CONDITIONS AND PROVISIOIVS OF ORDINANCE NO. 32 SERIES OF 2004 RECORDED MARCH 10, 2005 AT RECEPTION NO. 908755. 16. TERMS, CONDITIONS AND PROVISIONS OF EASEMENT RECORDED SEPTEMBER 21, 2005 AT RECEPTIOIV IVO. 930318. NOTE: THE POLICY OF TITLE INSURANCE WILL INCLUDE AN ARBITRATION PROVISION. THE COMPAIVY OR THE INSURED MAY DEMAND ARBITRATION. 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, ANY SERVICE OF THE COMPANY IN CONNECTIOIV WITH ITS ISSUANCE OR THE BREACH OF A POLICY PROVISION OR OTHER OBLIGATION. PLEASE ASK YOUR ESCROW OR TITLE OFFICER FOR A SAMPLE COPY OF THE POLICY TO BE ISSUED IF YOU WISH TO REVIEW THE ARBITRATION PROVISIONS AND ANY OTHER PROVISIOIVS PERTAIIVING TO YOUR TTTLE INSURANCE COVERAGE. LAND TITLE GUARANTEE COMPANY and LAND TITLE GUARANTEE COMPANY- GRAND JUNCTION DISCLOSURE STATEMENTS Note: Pursuant to CRS 10-11-122, notice is hereby given that: A) The subject real property may be located in a special taxing district. B) A Certificate of Taxes Due listing each taxing jurisdiction may be obtained from the County Treasurer's authorized agent. C) The information regarding special districts and the boundaries of such districts may be obtained from the Board of County Commissioners, the County Clerk and Recorder, or the County Assessor. Note: Effecrive September 1, 1997, CRS 30-10-406 requires that all documents received for recording or filing in the clerk and recorder's office shall contain a top margin of at least one inch and a left, right and bottom margin of at least one half of an inch. The clerk and recorder may refuse to record or file any document that does not conform, except that, the requirement for the top margin shall not apply to documents using forms on which space is provided for recording or filing information at the top margin of the document. Note: Colorado Division of Insurance Regulations 3-5-1, Paragraph C of Article VII requires that "Every tide entity shall be responsible for all matters which appear of record prior to the time of recording whenever the title entity conducts the closing and is responsible for recording or filing of legal documents resulting from the transaction which was closed". Provided that Land Title Guarantee Company conducts the closing of the insured transaction and is responsible for recording the legal documents from the transaction, exception number 5 will not appear on the Owner's Title Policy and the Lenders Policy when issued. Note: Affirmative mechanic's lien protection for the Owner may be available (typically by deletion of Exception no. 4 of Schedule B, Section 2 of the Commitment from the Owner's Policy to be issued) upon compliance with the following conditions: A)The land described in Schedule A of this commitment must be a single family residence which includes a condominium or townhouse unit. B) No labor or materials have been furnished by mechanics or material-men for purposes of construction on the land described in Schedule A of this Commitment within the past 6 months. C) The Company must receive an appropriate affidavit indemnifying the Company against un-filed mechanic's and material-men's liens. D)The Company must receive payment of the appropriate premium. E) If there has been construcflon, improvements or major repairs undertaken on the property to be purchased within six months prior to the Date of the Commitrnent, the requirements to obtain coverage for unrecorded liens will include: disclosure of certain construction information; financial information as to the seller, the builder and or the contractor; payment of the appropriate premium fully executed Indemnity Agreements satisfactory to the company, and, any additional requirements as may be necessary after an examination of the aforesaid information by the Company. No coverage will be given under any circumstances for labor or material for which the insured has contracted for or agreed to pay. Note: Pursuant to CRS 10-11-123, notice is hereby given: This notice applies to owner's policy commitments containing a mineral severance instrument exception, or exceptions, in Schedule B, Section 2. A)That there is recorded evidence that a mineral estate has been severed, leased, or otherwise conveyed from the surface estate and that there is a substantial likelihood that a third party holds some or all interest in oil, gas, other minerals, or geothermal energy in the property; and B) That such mineral estate may include the right to enter and use the property without the surface owner's permission. Nothing herein contained will be deemed to obligate the company to provide any of the coverages refened to herein unless the above conditions are fully satisfied. Fonn DIS(3ASURE 09/O1/02 JOINT NOTICE OF PRIVACY POLICY Fidelity National Financial Group of Companies/Chicago Title Insurance Company Security Union Tide Insurance Company and Land Tide Guarantee Company and Land Title Guarantee Company-Grand Junction Jwy i, 2ooi We recognize and r�e_sp ect the privacy expectations of today's consumers and the requirements of applicable federal and state privacx laws. V1re believe that making you aware of how we use your non-pubrc personal information ("Personal Information'), and to whom it is disclosed, will form the basis for a relaflonship of trust between us and the public that we serve. Tlus Privacy Statement provides that explanation. We reserve the right to change this Privacy Statement from time to time consistent with applicable privacy laws. In the course of our business,we may collect Personal Information about you from the following sources: * From applicarions or other forms we receive from you or your authorized representative; * From your transactions with, or from the services being performed by, us, our affiliates, or others; * From our intemet web sites; * From the public records maintained by governmental entities that we either obtain directly from those entities, or from our affiliates or others; and * From consumer or other reporting agencies. Our Policies Regarding the Protection of the ronfidentiality and Security of Your Personal Information We maintain physical, electronic and procedural safeguards to protect your Personal Information from unauthorized access or intrusion. We limit access to the Personal Information only to those employees who need such access in connection with providing products or services to yon or for other legitimate busmess purposes. Our Policies and Practices Regarding the Sharing of Your Personal Information We may share your Personal Information with our affiliates, such as insurance companies, agents, and other real estate settlement service providers. We also may disclose your Personal Information: * to a ents, brokers or representatives to provide you with services you have requested; * to�d-party contractors or service providers who provide services or perform marketing or other functions on our behalf; and * to others with whom we enter into joint marketing agreements for products or services that we believe you may fmd of interest. In addition we will disclose your Personal Information when you direct or ve us permission, when we are required by law to�o so, or when we suspect fraudulent or criminal ac�ivities. We�o may disclose your Personal Information when otherwise permitted by applicable privacy laws such as, for example, when disclosure is needed to enforce our rights arising out of any agreement, transacdon or relationship with you. One of the important responsibilities of some of our aff`iliated companies is to record documents in the public domain. Such documents may contain your Personal Information. Right to Access Your Personal Information and Ability to Correct Errors Or Request Changes Or Deletion Certain states afford you the right to access your Personal Informadon and, under certain circumstances, to find out to whom your Personal Informaflon has been disclosed. Also, certain states afford you the right to request correction, amendment or deletion of your Personal Information. We reserve the nght, where permitted by law, to charge a reasonable fee to cover the costs incurred in responding to such requests. All requests submitted to the Fidelity National Financial Group of Companies/Chicago Tifle Insurance Company shall be in writing, and delivered to the following address: Privacy Compliance Officer Fidelity National Financial, Inc. 4050 Calle Real, Suite 220 Santa Barbara, CA 93110 Multiple Products or Services If we provide you with more than one fmancial product or service,you may receive more than one privacy notice from us. We apologize for any inconvenience this may cause you. Foxm PRIV.POL.C�II