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HomeMy WebLinkAboutDRB120433 title reportView your transaction progress 24/7 via SureClose. Ask us about your login today! Stewart Title -Edwards 97 Main Street, Ste W-201 Edwards, CO 81632 Date:September 14, 2012 File Number:01330-13517 Buyer: Seller:Space 44, LLC, a Colorado limited liability company Property:520 E. Lionshead Circle, Condominium Unit 208, Vail, CO 81657 Please direct all Closing inquiries to: Phone:Fax: Email Address: Please direct all Title inquiries to: Melanie Lang Phone:(970) 766-0233 Email Address:mlang@stewart.com We Appreciate Your Business and Look Forward to Serving You in the Future. ALTA Commitment (6/17/06) ALTA Commitment Form COMMITMENT FOR TITLE INSURANCE Issued by STEWART TITLE GUARANTY COMPANY, a Texas Corporation (“Company”), for a valuable consideration, commits to issue its policy or policies of title insurance, as identified in Schedule A, in favor of the Proposed Insured named in Schedule A,as owner or mortgagee of the estate or interest in the land described or referred to in Schedule A, upon payment of the premiums and charges and compliance with the Requirements; all subject to the provisions of Schedules A and Band to the Conditions of this Commitment. This Commitment shall be effective only when the identity of the Proposed Insured and the amount of the policy or policies committed for have been inserted in Schedule A by the Company. All liability and obligation under this Commitment shall cease and terminate six months after the Effective Date or when the policy or policies committed for shall issue, whichever first occurs, provided that the failure to issue the policy or policies is not the fault of the Company. The Company will provide a sample of the policy form upon request. This Commitment shall not be valid or binding until countersigned by a validating officer or authorized signatory. IN WITNESS WHEREOF, Stewart Title Guaranty Company has caused its corporate name and seal to be affixed by its duly authorized officers on the date shown in Schedule A. Countersigned by: Stewart Title -Edwards 97 Main Street, Ste W-201 Edwards, CO 81632 (970) 926-0230 Copyright 2006-2009 American Land Title Association. All rights reserved. The use of this Form is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association.File No.: 01330-13517 004-UN ALTA Commitment (6/17/06) Page 1 of 2 CONDITIONS 1.The term mortgage, when used herein, shall include deed of trust, trust deed, or other security instrument. 2.If the proposed Insured has or acquired actual knowledge of any defect, lien, encumbrance, adverse claim or other matter affecting the estate or interest or mortgage thereon covered by this Commitment other than those shown in Schedule B hereof, and shall fail to disclose such knowledge to the Company in writing, the Company shall be relieved from liability for any loss or damage resulting from any act of reliance hereon to the extent the Company is prejudiced by failure to so disclose such knowledge. If the proposed Insured shall disclose such knowledge to the Company, or if the Company otherwise acquires actual knowledge of any such defect, lien, encumbrance, adverse claim or other matter, the Company at its option may amend Schedule B of this Commitment accordingly, but such amendment shall not relieve the Company from liability previously incurred pursuant to paragraph 3 of these Conditions. 3.Liability of the Company under this Commitment shall be only to the named proposed Insured and such parties included under the definition of Insured in the form of policy or policies committed for and only for actual loss incurred in reliance hereon in undertaking in good faith (a) to comply with the requirements hereof, or (b) to eliminate exceptions shown in Schedule B, or (c) to acquire or create the estate or interest or mortgage thereon covered by this Commitment. In no event shall such liability exceed the amount stated in Schedule A for the policy or policies committed for and such liability is subject to the insuring provisions and Conditions and the Exclusions from Coverage of the form of policy or policies committed for in favor of the proposed Insured which are hereby incorporated by reference and are made a part of this Commitment except as expressly modified herein. 4.This Commitment is a contract to issue one or more title insurance policies and is not an abstract of title or a report of the condition of title.Any action or actions or rights of action that the proposed Insured may have or may bring against the Company arising out of the status of the title to the estate or interest or the status of the mortgage thereon covered by this Commitment must be based on and are subject to the provisions of this Commitment. 5.The policy to be issued contains an arbitration clause. All arbitrable matters when the Amount of Insurance is $2,000,000 or less shall be arbitrated at the option of either the Company or the Insured as the exclusive remedy of the parties.You may review a copy of the arbitration rules at< http://www.alta.org/>. All notices required to be given the Company and any statement in writing required to be furnishedthe Company shall be addressed to it at P.O. Box 2029, Houston, Texas 77252. Copyright 2006-2009 American Land Title Association. All rights reserved. The use of this Form is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association.File No.: 01330-13517 004-UN ALTA Commitment (6/17/06) Page 2 of 2 COMMITMENT FOR TITLE INSURANCE SCHEDULE A File No.: 01330-13517 1. Effective Date: August 30, 2012at8:00 A.M. 2. Policy or Policies to be issued: Amount of Insurance (a) A.L.T.A. Owner's Proposed Insured: (b) A.L.T.A. Mortgagee's Proposed Insured: 3. The estate or interest in the land described or referred to in this Commitment and covered herein is: Fee Simple 4. Title to the saidestate or interest in said land is at the effective date hereof vested in: Space 44, LLC, a Colorado limited liability company 5. The land referred to in this Commitment is described as follows: Condominium Unit No. 208, VAIL/LIONSHEAD CENTRE CONDOMINIUMS, According to the Map thereof filed for record in Book 218 at Page 902 as Reception No. 114510, Amended Map recorded in Book 225 at Page 740 as Reception No. 121521 and Amended Map recorded in Book 679 at Page 358 as Reception No. 575368 and according to the Condominium Declaration for Vail/Lionshead Centre Condominium recorded in Book 218 at Page 901 as Reception No. 114509, as amended by First Amendment to Condominium Declaration recorded in Book 225 at Page 741 as Reception No. 121522. COUNTY OF EAGLE STATE OF COLORADO Purported Address: 520 E. Lionshead Circle Condominium Unit 208 Vail, CO 81657 STATEMENT OF CHARGES These charges are due and payable before a policy can be issued Search Fee: $100.00 Copyright 2006-2009 American Land Title Association. All rights reserved. The use of this Form is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association.File No. 01330-13517 CO STG ALTA Commitment Sch A STO Page 1 of 1 File No.: 01330-13517 The following are the requirements to be complied with: 1. 2. Payment to or for the account of the grantor(s) or mortgagor(s) of the full consideration for the estate or interest to be insured. Proper instrument(s) creating the estate or interest to be insured must be executed and duly filed for record. 3.NONE NOTE: This product is for informational purposes only. It is not a title insurance product and does not provide any form of coverage. This product is not a guarantee or assurance and does not warrant, or otherwise insure any condition, fact or circumstance. This product does not obligate this Company to issue any policies of title insurance for any subsequent transaction based on the information provided or involving the propertydescribed herein. This Company's sole liability for any error(s) relating to this product is limited to the amount that was paid for this product. COMMITMENT FOR TITLE INSURANCE SCHEDULE B PART I Copyright 2006-2009 American Land Title Association. All rights reserved. The use of this Form is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association.File No. 01330-13517 CO STG ALTA Commitment Sch B I Page 1 of 1 File No.: 01330-13517 Schedule B of the policy or policies to be issued will contain exceptions to the following matters unless the same are disposed of to the satisfaction of the Company: 1. 2. 3. 4. 5. 6. 7. Rights or claims of parties in possession, not shown by the public records. Easements, or claims of easements, not shown by the public records. Any encroachment, encumbrance, violation, variation, or adverse circumstance affecting the title that would be disclosed by an accurate and complete land survey of the Land and not shown by the public records. Any lien, or right to a lien, for services, labor or material heretofore or hereafter furnished, imposed by law and not shown by the public records. Defects, liens, encumbrances, adverse claims or other matters, if any, created, first appearing in the public records or attaching subsequent to the Effective Date but prior to the date the proposed Insured acquires for value of record the estate or interest or mortgage thereon covered by this Commitment. Unpatented mining claims, reservations or exceptions in patents, or in acts authorizing the issuance thereof. Water rights, claims or title to water. 8. 9. 10. 11. 12. 13. 14. 15. Any and all unpaid taxes and assessments and any unredeemed tax sales. The effect of inclusions in any general or specific water conservancy, fire protection, soil conservation or other district or inclusion in any water service or street improvement area. Any and all condominium assessments or expenses which may be due and payable to Vail Lionshead Centre Condominium Association. Reservations or exceptions contained in U.S. Patents, or in Acts authorizing the issuance thereof, of record, reserving 1) Rights of the proprietor of a vein or lode to extract and remove his ore therefrom and 2) rights of way for ditches and canals constructed under the authority of the United States. All matters shown on the plat of Vail Lionshead First Filing recorded May 18, 1970 in Book 217 at Page 676 as Reception No. 113260 and Correction of Plat recorded October 15, 1970 in Book 218 at Page 900 as Reception No. 114508 . Protective Covenants recorded May 18, 1970 in Book 217 at Page 675 as Reception No. 113259 , as amended by instrument recorded July 20, 1970 in Book 218 at Page 334 as Reception No. 113925 and further amended by instrument recorded October 15, 1970 in Book 218 at Page 899 as Reception No. 114507 . Condominium Declaration for Vail/Lionshead Centre Condominiums recorded October 15, 1970 in Book 218 at Page 901 as Reception No. 114509 and as amended by First Amendment recorded in Book 225 at Page 741 as Reception No. 121522 . All matters shown on the Condominium Map of Vail/Lionshead Centre Condominiums, recorded October 15, 1970 in Book 218 at Page 902 as Reception No. 114510 and amended Map in Book 225 at Page 740 as Reception No. 121521 and further amendment recorded October 26, 1995 in Book 679 at Page 358 as Reception No. 575368 . COMMITMENT FOR TITLE INSURANCE SCHEDULE B PART II Copyright 2006-2009 American Land Title Association. All rights reserved. The use of this Form is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association.File No. 01330-13517 CO STG ALTA Commitment Sch B II STO Page 1 of 2 16. 17. 18. 19. 20. 21. Statement of Vail/Lionshead Centre Condominium Association recorded April 25, 1996 in Book 693 at Page 164 as Reception No. 589160 . Broadband Easement and Right of Entry Agreement recorded July 2, 1997 in Book 731 at Page 18 as Reception No. 626977 . Grant of Easement recorded November 21, 2005 as Reception No. 937623 . Any and all existing leases and tenancies. A Deed of Trust executed by Jose Luis Chain and Carmen Fajer De Chain, to the Public Trustee, to secure an indebtedness of $319,800.00 in favor of First Western Mortgage Services, Inc. recorded January 27, 2004 as Reception No. 866003. Note: Assignment of Deed of Trust to Great Midwest Bank, SSB recorded January 27, 2004 as Reception No. 866004. Lis Pendens issued by the Clerk of the Court, in Case No. in the 09-CV-486 District Court of the County of Eagle entitled Vail Lionshead Centre Condo Assoc, Plaintiff vs. Jose Luis Chain and Carmen Fajer De Chain, etal recorded September 3, 2009 as Reception No. 200919740. COMMITMENT FOR TITLE INSURANCE SCHEDULE B PART II Copyright 2006-2009 American Land Title Association. All rights reserved. The use of this Form is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association.File No. 01330-13517 CO STG ALTA Commitment Sch B II STO Page 2 of 2 DISCLOSURES File No.: 01330-13517 Pursuant to C.R.S. 10-11-122, notice is hereby given that: A. B. C. THE SUBJECT REAL PROPERTY MAY BE LOCATED IN A SPECIAL TAXING DISTRICT; A CERTIFICATE OF TAXES DUE LISTING EACH TAXING JURISDICTION SHALL BE OBTAINED FROM THE COUNTY TREASURER OR THE COUNTY TREASURER’S AUTHORIZED AGENT; 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: Colorado Division of Insurance Regulations 3-5-1, Subparagraph (7) (E) requires that “Every title entity shall be responsible for all matters which appear of record prior to the time of recording whenever the titleentity conducts the closing and is responsible for recording or filing of legal documents resulting from the transactionwhich was closed.” Provided that Stewart Title -Edwardsconducts 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 Policyand the Lender’s Title 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. B. C. D. E. The land described in Schedule A of this commitment must be a single-family residence, which includes a condominium or townhouse unit. No labor or materials have been furnished by mechanics or materialmen for purposes of constructionon the land described in Schedule A of this Commitment within the past 6 months. The Company must receive an appropriate affidavit indemnifying the Company against unfiled Mechanic’s and Materialmen’s Liens. The Company must receive payment of the appropriate premium. 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, thebuilder 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. To comply with the provisions of C.R.S. 10-11-123, the Company makes the following disclosure: a. b. 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 That such mineral estate may include the right to enter and use the property without the surface owner’s permission. NOTE: THIS DISCLOSURE APPLIES ONLY IF SCHEDULE B, SECTION 2 OF THE TITLE COMMITMENT HEREIN INCLUDES AN EXCEPTION FOR SEVERED MINERALS. 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. File No.: 01330-13517 CO Commitment Disclosure STG Privacy Notice 1 (Rev 01/26/09) Stewart Title Companies WHAT DO THE STEWART TITLE COMPANIES DO WITH YOUR PERSONAL INFORMATION? Federal and applicable state law and regulations give consumers the right to limit some but not allsharing. Federal and applicable state law regulations also require us to tell you how we collect, share, and protect your personal information. Please read this notice carefully to understand how we use your personal information. This privacy notice is distributed on behalf of the Stewart Title Guaranty Company and its affiliates (the Stewart Title Companies), pursuant to Title V of the Gramm-Leach-Bliley Act (GLBA). The types of personal information we collect and share depend on the product or service that you have sought through us. This information can include social security numbers and driver's license number. All financial companies, such as the Stewart Title Companies, need to share customers' personal information to run their everyday business—to process transactions and maintain customer accounts. In the section below, we list the reasons that we can share customers' personal information; the reasons that we choose to share; and whether you can limit thissharing. Reasons we can share your personal information Do we share?Can you limit this sharing? For our everyday business purposes—to process your transactions and maintain your account. This may include running the business and managing customer accounts, such as processing transactions, mailing, and auditing services, and responding to court orders and legal investigations. Yes No For our marketing purposes—to offer our products and services to you.Yes No For joint marketing with other financial companies No We don't share For our affiliates' everyday business purposes—information about your transactions and experiences. Affiliates are companies related by common ownership or control. They can be financial and non-financial companies. Our affiliates may include companies with a Stewart name; financial companies, such as Stewart Title Company Yes No For our affiliates' everyday business purposes—information about your creditworthiness.No We don't share For our affiliates to market to you Yes No For non-affiliates to market to you. Non-affiliates are companies not related by common ownership or control. They can be financial and non-financial companies.No We don't share We may disclose your personal information to our affiliates or to non-affiliates as permitted by law. If you request a transaction with a non-affiliate, such as a third party insurance company, we will disclose your personal information to that non-affiliate. [Wedo not control their subsequent use of information, and suggest you refer to their privacy notices.] _____________________________________________________________________________________________________________________________________________________________ Sharing practices How often do the Stewart Title Companies notifyme about their practices? We must notify you about our sharing practices when you request a transaction. How do the Stewart Title Companies protect my personal information? To protect your personal information from unauthorized access and use, we use security measures that comply with federal and state law. These measures include computer, file, and building safeguards. How do the Stewart Title Companies collect my personal information? We collect your personal information, for example, when you request insurance-related services provide such information to us We also collect your personal information from others, such as the real estate agent or lender involved in your transaction, credit reporting agencies, affiliates or other companies. What sharing can I limit?Although federal and state law give you the right to limit sharing (e.g., opt out) in certain instances, we do not share your personal information in those instances. Contact Us If you have any questions about this privacy notice, please contact us at: Stewart Title Guaranty Company, 1980 Post Oak Blvd., Privacy Officer, Houston, Texas 77056 File No.: 01330-13517 Page 1 of 1 View your transaction progress 24/7 via SureClose. Ask us about your login today! Stewart Title -Edwards 97 Main Street, Ste W-201 Edwards, CO 81632 Date:September 14, 2012 File Number:01330-13514 Buyer: Seller:Cottontop LLC., a Colorado limited liability company Property:520 E. Lionshead Circle, Condominium Unit 308, Vail, CO 81657 Please direct all Closing inquiries to: Phone:Fax: Email Address: Please direct all Title inquiries to: Melanie Lang Phone:(970) 766-0233 Email Address:mlang@stewart.com We Appreciate Your Business and Look Forward to Serving You in the Future. ALTA Commitment (6/17/06) ALTA Commitment Form COMMITMENT FOR TITLE INSURANCE Issued by STEWART TITLE GUARANTY COMPANY, a Texas Corporation (“Company”), for a valuable consideration, commits to issue its policy or policies of title insurance, as identified in Schedule A, in favor of the Proposed Insured named in Schedule A,as owner or mortgagee of the estate or interest in the land described or referred to in Schedule A, upon payment of the premiums and charges and compliance with the Requirements; all subject to the provisions of Schedules A and Band to the Conditions of this Commitment. This Commitment shall be effective only when the identity of the Proposed Insured and the amount of the policy or policies committed for have been inserted in Schedule A by the Company. All liability and obligation under this Commitment shall cease and terminate six months after the Effective Date or when the policy or policies committed for shall issue, whichever first occurs, provided that the failure to issue the policy or policies is not the fault of the Company. The Company will provide a sample of the policy form upon request. This Commitment shall not be valid or binding until countersigned by a validating officer or authorized signatory. IN WITNESS WHEREOF, Stewart Title Guaranty Company has caused its corporate name and seal to be affixed by its duly authorized officers on the date shown in Schedule A. Countersigned by: Stewart Title -Edwards 97 Main Street, Ste W-201 Edwards, CO 81632 (970) 926-0230 Copyright 2006-2009 American Land Title Association. All rights reserved. The use of this Form is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association.File No.: 01330-13514 004-UN ALTA Commitment (6/17/06) Page 1 of 2 CONDITIONS 1.The term mortgage, when used herein, shall include deed of trust, trust deed, or other security instrument. 2.If the proposed Insured has or acquired actual knowledge of any defect, lien, encumbrance, adverse claim or other matter affecting the estate or interest or mortgage thereon covered by this Commitment other than those shown in Schedule B hereof, and shall fail to disclose such knowledge to the Company in writing, the Company shall be relieved from liability for any loss or damage resulting from any act of reliance hereon to the extent the Company is prejudiced by failure to so disclose such knowledge. If the proposed Insured shall disclose such knowledge to the Company, or if the Company otherwise acquires actual knowledge of any such defect, lien, encumbrance, adverse claim or other matter, the Company at its option may amend Schedule B of this Commitment accordingly, but such amendment shall not relieve the Company from liability previously incurred pursuant to paragraph 3 of these Conditions. 3.Liability of the Company under this Commitment shall be only to the named proposed Insured and such parties included under the definition of Insured in the form of policy or policies committed for and only for actual loss incurred in reliance hereon in undertaking in good faith (a) to comply with the requirements hereof, or (b) to eliminate exceptions shown in Schedule B, or (c) to acquire or create the estate or interest or mortgage thereon covered by this Commitment. In no event shall such liability exceed the amount stated in Schedule A for the policy or policies committed for and such liability is subject to the insuring provisions and Conditions and the Exclusions from Coverage of the form of policy or policies committed for in favor of the proposed Insured which are hereby incorporated by reference and are made a part of this Commitment except as expressly modified herein. 4.This Commitment is a contract to issue one or more title insurance policies and is not an abstract of title or a report of the condition of title.Any action or actions or rights of action that the proposed Insured may have or may bring against the Company arising out of the status of the title to the estate or interest or the status of the mortgage thereon covered by this Commitment must be based on and are subject to the provisions of this Commitment. 5.The policy to be issued contains an arbitration clause. All arbitrable matters when the Amount of Insurance is $2,000,000 or less shall be arbitrated at the option of either the Company or the Insured as the exclusive remedy of the parties.You may review a copy of the arbitration rules at< http://www.alta.org/>. All notices required to be given the Company and any statement in writing required to be furnishedthe Company shall be addressed to it at P.O. Box 2029, Houston, Texas 77252. Copyright 2006-2009 American Land Title Association. All rights reserved. The use of this Form is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association.File No.: 01330-13514 004-UN ALTA Commitment (6/17/06) Page 2 of 2 COMMITMENT FOR TITLE INSURANCE SCHEDULE A File No.: 01330-13514 1. Effective Date: August 30, 2012at8:00 A.M. 2. Policy or Policies to be issued: Amount of Insurance (a) A.L.T.A. Owner's Proposed Insured: (b) A.L.T.A. Mortgagee's Proposed Insured: 3. The estate or interest in the land described or referred to in this Commitment and covered herein is: Fee Simple 4. Title to the saidestate or interest in said land is at the effective date hereof vested in: Cottontop LLC., a Colorado limited liability company 5. The land referred to in this Commitment is described as follows: Condominium Unit No. 308, VAIL/LIONSHEAD CENTRE CONDOMINIUMS, According to the Map thereof filed for record in Book 218 at Page 902 as Reception No. 114510, Amended Map recorded in Book 225 at Page 740 as Reception No. 121521 and Amended Map recorded in Book 679 at Page 358 as Reception No. 575368 and according to the Condominium Declaration for Vail/Lionshead Centre Condominium recorded in Book 218 at Page 901 as Reception No. 114509, as amended by First Amendment to Condominium Declaration recorded in Book 225 at Page 741 as Reception No. 121522. COUNTY OF EAGLE STATE OF COLORADO Purported Address: 520 E. Lionshead Circle Condominium Unit 308 Vail, CO 81657 STATEMENT OF CHARGES These charges are due and payable before a policy can be issued Search Fee: $100.00 Copyright 2006-2009 American Land Title Association. All rights reserved. The use of this Form is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association.File No. 01330-13514 CO STG ALTA Commitment Sch A STO Page 1 of 1 File No.: 01330-13514 The following are the requirements to be complied with: 1. 2. Payment to or for the account of the grantor(s) or mortgagor(s) of the full consideration for the estate or interest to be insured. Proper instrument(s) creating the estate or interest to be insured must be executed and duly filed for record. 3.NONE NOTE: This product is for informational purposes only. It is not a title insurance product and does not provide any form of coverage. This product is not a guarantee or assurance and does not warrant, or otherwise insure any condition, fact or circumstance. This product does not obligate this Company to issue any policies of title insurance for any subsequent transaction based on the information provided or involving the propertydescribed herein. This Company's sole liability for any error(s) relating to this product is limited to the amount that was paid for this product. COMMITMENT FOR TITLE INSURANCE SCHEDULE B PART I Copyright 2006-2009 American Land Title Association. All rights reserved. The use of this Form is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association.File No. 01330-13514 CO STG ALTA Commitment Sch B I Page 1 of 1 File No.: 01330-13514 Schedule B of the policy or policies to be issued will contain exceptions to the following matters unless the same are disposed of to the satisfaction of the Company: 1. 2. 3. 4. 5. 6. 7. Rights or claims of parties in possession, not shown by the public records. Easements, or claims of easements, not shown by the public records. Any encroachment, encumbrance, violation, variation, or adverse circumstance affecting the title that would be disclosed by an accurate and complete land survey of the Land and not shown by the public records. Any lien, or right to a lien, for services, labor or material heretofore or hereafter furnished, imposed by law and not shown by the public records. Defects, liens, encumbrances, adverse claims or other matters, if any, created, first appearing in the public records or attaching subsequent to the Effective Date but prior to the date the proposed Insured acquires for value of record the estate or interest or mortgage thereon covered by this Commitment. Unpatented mining claims, reservations or exceptions in patents, or in acts authorizing the issuance thereof. Water rights, claims or title to water. 8. 9. 10. 11. 12. 13. 14. 15. Any and all unpaid taxes and assessments and any unredeemed tax sales. The effect of inclusions in any general or specific water conservancy, fire protection, soil conservation or other district or inclusion in any water service or street improvement area. Any and all condominium assessments or expenses which may be due and payable to Vail Lionshead Centre Condominium Association. Reservations or exceptions contained in U.S. Patents, or in Acts authorizing the issuance thereof, of record, reserving 1) Rights of the proprietor of a vein or lode to extract and remove his ore therefrom and 2) rights of way for ditches and canals constructed under the authority of the United States. All matters shown on the plat of Vail Lionshead First Filing recorded May 18, 1970 in Book 217 at Page 676 as Reception No. 113260 and Correction of Plat recorded October 15, 1970 in Book 218 at Page 900 as Reception No. 114508 . Protective Covenants recorded May 18, 1970 in Book 217 at Page 675 as Reception No. 113259 , as amended by instrument recorded July 20, 1970 in Book 218 at Page 334 as Reception No. 113925 and further amended by instrument recorded October 15, 1970 in Book 218 at Page 899 as Reception No. 114507 . Condominium Declaration for Vail/Lionshead Centre Condominiums recorded October 15, 1970 in Book 218 at Page 901 as Reception No. 114509 and as amended by First Amendment recorded in Book 225 at Page 741 as Reception No. 121522 . All matters shown on the Condominium Map of Vail/Lionshead Centre Condominiums, recorded October 15, 1970 in Book 218 at Page 902 as Reception No. 114510 and amended Map in Book 225 at Page 740 as Reception No. 121521 and further amendment recorded October 26, 1995 in Book 679 at Page 358 as Reception No. 575368 . COMMITMENT FOR TITLE INSURANCE SCHEDULE B PART II Copyright 2006-2009 American Land Title Association. All rights reserved. The use of this Form is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association.File No. 01330-13514 CO STG ALTA Commitment Sch B II STO Page 1 of 2 16. 17. 18. 19. Statement of Vail/Lionshead Centre Condominium Association recorded April 25, 1996 in Book 693 at Page 164 as Reception No. 589160 . Broadband Easement and Right of Entry Agreement recorded July 2, 1997 in Book 731 at Page 18 as Reception No. 626977 . Grant of Easement recorded November 21, 2005 as Reception No. 937623 . Any and all existing leases and tenancies. COMMITMENT FOR TITLE INSURANCE SCHEDULE B PART II Copyright 2006-2009 American Land Title Association. All rights reserved. The use of this Form is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association.File No. 01330-13514 CO STG ALTA Commitment Sch B II STO Page 2 of 2 DISCLOSURES File No.: 01330-13514 Pursuant to C.R.S. 10-11-122, notice is hereby given that: A. B. C. THE SUBJECT REAL PROPERTY MAY BE LOCATED IN A SPECIAL TAXING DISTRICT; A CERTIFICATE OF TAXES DUE LISTING EACH TAXING JURISDICTION SHALL BE OBTAINED FROM THE COUNTY TREASURER OR THE COUNTY TREASURER’S AUTHORIZED AGENT; 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: Colorado Division of Insurance Regulations 3-5-1, Subparagraph (7) (E) requires that “Every title entity shall be responsible for all matters which appear of record prior to the time of recording whenever the titleentity conducts the closing and is responsible for recording or filing of legal documents resulting from the transactionwhich was closed.” Provided that Stewart Title -Edwardsconducts 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 Policyand the Lender’s Title 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. B. C. D. E. The land described in Schedule A of this commitment must be a single-family residence, which includes a condominium or townhouse unit. No labor or materials have been furnished by mechanics or materialmen for purposes of constructionon the land described in Schedule A of this Commitment within the past 6 months. The Company must receive an appropriate affidavit indemnifying the Company against unfiled Mechanic’s and Materialmen’s Liens. The Company must receive payment of the appropriate premium. 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, thebuilder 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. To comply with the provisions of C.R.S. 10-11-123, the Company makes the following disclosure: a. b. 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 That such mineral estate may include the right to enter and use the property without the surface owner’s permission. NOTE: THIS DISCLOSURE APPLIES ONLY IF SCHEDULE B, SECTION 2 OF THE TITLE COMMITMENT HEREIN INCLUDES AN EXCEPTION FOR SEVERED MINERALS. 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. File No.: 01330-13514 CO Commitment Disclosure STG Privacy Notice 1 (Rev 01/26/09) Stewart Title Companies WHAT DO THE STEWART TITLE COMPANIES DO WITH YOUR PERSONAL INFORMATION? Federal and applicable state law and regulations give consumers the right to limit some but not allsharing. Federal and applicable state law regulations also require us to tell you how we collect, share, and protect your personal information. Please read this notice carefully to understand how we use your personal information. This privacy notice is distributed on behalf of the Stewart Title Guaranty Company and its affiliates (the Stewart Title Companies), pursuant to Title V of the Gramm-Leach-Bliley Act (GLBA). The types of personal information we collect and share depend on the product or service that you have sought through us. This information can include social security numbers and driver's license number. All financial companies, such as the Stewart Title Companies, need to share customers' personal information to run their everyday business—to process transactions and maintain customer accounts. In the section below, we list the reasons that we can share customers' personal information; the reasons that we choose to share; and whether you can limit thissharing. Reasons we can share your personal information Do we share?Can you limit this sharing? For our everyday business purposes—to process your transactions and maintain your account. This may include running the business and managing customer accounts, such as processing transactions, mailing, and auditing services, and responding to court orders and legal investigations. Yes No For our marketing purposes—to offer our products and services to you.Yes No For joint marketing with other financial companies No We don't share For our affiliates' everyday business purposes—information about your transactions and experiences. Affiliates are companies related by common ownership or control. They can be financial and non-financial companies. Our affiliates may include companies with a Stewart name; financial companies, such as Stewart Title Company Yes No For our affiliates' everyday business purposes—information about your creditworthiness.No We don't share For our affiliates to market to you Yes No For non-affiliates to market to you. Non-affiliates are companies not related by common ownership or control. They can be financial and non-financial companies.No We don't share We may disclose your personal information to our affiliates or to non-affiliates as permitted by law. If you request a transaction with a non-affiliate, such as a third party insurance company, we will disclose your personal information to that non-affiliate. [Wedo not control their subsequent use of information, and suggest you refer to their privacy notices.] _____________________________________________________________________________________________________________________________________________________________ Sharing practices How often do the Stewart Title Companies notifyme about their practices? We must notify you about our sharing practices when you request a transaction. How do the Stewart Title Companies protect my personal information? To protect your personal information from unauthorized access and use, we use security measures that comply with federal and state law. These measures include computer, file, and building safeguards. How do the Stewart Title Companies collect my personal information? We collect your personal information, for example, when you request insurance-related services provide such information to us We also collect your personal information from others, such as the real estate agent or lender involved in your transaction, credit reporting agencies, affiliates or other companies. What sharing can I limit?Although federal and state law give you the right to limit sharing (e.g., opt out) in certain instances, we do not share your personal information in those instances. Contact Us If you have any questions about this privacy notice, please contact us at: Stewart Title Guaranty Company, 1980 Post Oak Blvd., Privacy Officer, Houston, Texas 77056 File No.: 01330-13514 Page 1 of 1 CUSTOMER DISTRIBUTION Date:Our Order Number: Property Address: If you have any inquiries or require further assistance, please contact one of the numbers below: 09-13-2012 VTF50034429 520 EAST LIONSHEAD CIRCLE AKA UNIT 309 VAIL LIONSHEAD CENTRE VAIL, CO 81657 For Closing Assistance: Kelley J. Hanlon 0090 BENCHMARK RD #205 PO BOX 3480 AVON, CO 81620 Phone: 970-748-4785 Fax: 877-261-1720 EMail: khanlon@ltgc.com For Title Assistance: Vail Title "VTF" Unit 610 WEST LIONSHEAD CIRCLE #200 VAIL, CO 81657 Phone: 970-476-2251 Fax: 970-476-4534 EMail: eaglecountyrequests@ltgc.com LAND TITLE GUARANTEE COMPANY 0090 BENCHMARK RD #205 PO BOX 3480 AVON, CO 81620 Attn: Kelley J. Hanlon Phone: 970-748-4785 Fax: 877-261-1720 EMail: khanlon@ltgc.com NORMAN R. HELWIG, P.C. 10403 WEST COLFAX AVE. STE #200 LAKEWOOD, CO 80215 Attn: VICKI CERVENY Phone: 303-235-1128 Fax: 303-234-9928 EMail: vicki@normhelwiglaw.com Sent Via EMail Land Title Guarantee Company Date: Our Order Number: Owner: Property Address: Need a map or directions for your upcoming closing? Check out Land Title's web site at www.ltgc.com for directions to any of our 54 office locations. THANK YOU FOR YOUR ORDER! ESTIMATE OF TITLE FEES TOTAL Form CONTACT.L (8/2003) 09-13-2012 VTF50034429 NIRVANA HOLDINGS, LLC, A COLORADO LIMITED LIABILITY COMPANY 520 EAST LIONSHEAD CIRCLE AKA UNIT 309 VAIL LIONSHEAD CENTRE VAIL, CO 81657 Wire Information: Bank: FIRSTBANK OF COLORADO 10403 W COLFAX AVENUE LAKEWOOD, CO 80215 Phone: 303-237-5000 Credit: LAND TITLE GUARANTEE COMPANY ABA No.: 107005047 Account: 2160521825 Attention: Kelley J. Hanlon ALTA Loan Policy 06-17-06 (Const. Loan) Tax Report R010406 TBD $25.00 $25.00 Land Title Guarantee Company Schedule A Our Order No. Cust. Ref.: 1. Effective Date: 2. Policy to be Issued, and Proposed Insured: 3. The estate or interest in the Land described or referred to in this Commitment and covered herein is: 4. Title to the estate or interest covered herein is at the effective date hereof vested in: 5. The Land referred to in this Commitment is described as follows: Property Address: VTF50034429 A L T A C O M M I T M E N T First American Title Insurance Company August 30, 2012 at 5:00 P.M. "ALTA" Loan Policy 06-17-06 Proposed Insured: A LENDER TO BE DETERMINED $0.00 FEE SIMPLE NIRVANA HOLDINGS, LLC, A COLORADO LIMITED LIABILITY COMPANY CONDOMINIUM UNIT 309, VAIL/LIONSHEAD CENTRE CONDOMINIUM, ACCORDING TO THE FIRST AMENDMENT TO VAIL/LIONSHEAD CENTRE CONDOMINIUM MAP RECORDED OCTOBER 26, 1995 IN BOOK 679 AT PAGE 358 AND AS DEFINED AND DESCRIBED IN THE CONDOMINIUM DECLARATION RECORDED OCTOBER 15, 1970 IN BOOK 218 AT PAGE 901 AND FIRST AMENDMENT TO CONDOMINIUM DECLARATION RECORDED OCTOBER 11, 1972 IN BOOK 225 AT PAGE 711, COUNTY OF EAGLE, STATE OF COLORADO. 520 EAST LIONSHEAD CIRCLE AKA UNIT 309 VAIL LIONSHEAD CENTRE VAIL, CO 81657 The following are the requirements to be complied with: (Requirements)Our Order No. A L T A C O M M I T M E N T Schedule B - Section 1 VTF50034429 1. 2. 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: DULY EXECUTED AND ACKNOWLEDGED STATEMENT OF AUTHORITY SETTING FORTH THE NAME OF AS A LIMITED LIABILITY COMPANY. THE STATEMENT OF AUTHORITY MUST STATE UNDER WHICH LAWS THE LIMITED LIABILITY COMPANY WAS CREATED, THE MAILING ADDRESS OF THE LIMITED LIABILITY COMPANY, THE NAME AND POSITION OF THE PERSON(S) AUTHORIZED TO EXECUTE INSTRUMENTS CONVEYING, ENCUMBERING, OR OTHERWISE AFFECTING TITLE TO REAL PROPERTY ON BEHALF OF THE LIMITED LIABILITY COMPANY AND OTHERWISE COMPLYING WITH THE PROVISIONS OF SECTION 38-30-172, CRS. NOTE: RELEVANT PORTIONS OF THE FULLY EXECUTED OPERATING AGREEMENT FOR THE ABOVE-NAMED LIMITED LIABILITY COMPANY MUST BE FURNISHED TO LAND TITLE GUARANTEE COMPANY PRIOR TO CLOSING SO THAT THE COMPANY CAN CONFIRM THE ACCURACY OF THE STATEMENTS APPEARING IN THE STATEMENT OF AUTHORITY. NOTE: THE STATEMENT OF AUTHORITY MUST BE RECORDED WITH THE CLERK AND RECORDER. DEED OF TRUST FROM NIRVANA HOLDINGS, LLC, A COLORADO LIMITED LIABILITY COMPANY TO THE PUBLIC TRUSTEE OF EAGLE COUNTY FOR THE USE OF A LENDER TO BE DETERMINED TO SECURE THE SUM OF $0.00. IF THERE IS A CHANGE IN OWNERSHIP OF THE PROPERTY TO BE INSURED HEREIN FROM THE VESTED OWNER SET FORTH IN ITEM 4 OF SCHEDULE A HEREIN, THE TERMS, PROVISIONS AND CONDITIONS OF THE TOWN OF VAIL TRANSFER TAX MAY BE APPLICABLE. The policy or policies to be issued will contain exceptions to the following unless the same are disposed of to the satisfaction of the Company: (Exceptions)Our Order No. A L T A C O M M I T M E N T Schedule B - Section 2 VTF50034429 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. Any facts, rights, interests, or claims thereof, not shown by the Public Records but that could be ascertained by an inspection of the Land or that may be asserted by persons in possession of the Land. Easements, liens or encumbrances, or claims thereof, not shown by the Public Records. Any encroachment, encumbrance, violation, variation, or adverse circumstance affecting the Title that would be disclosed by an accurate and complete land survey of the Land and not shown by the Public Records. Any lien, or right to a lien, for services, labor or material heretofore or hereafter furnished, imposed by law and not shown by the Public Records. Defects, liens, encumbrances, adverse claims or other matters, if any, created, first appearing in the public records or attaching 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. Any and all unpaid taxes, assessments and unredeemed tax sales. (a) Unpatented mining claims; (b) reservations or exceptions in patents or in Acts authorizing the issuance thereof; (c) water rights, claims or title to water, whether or not the matters excepted under (a), (b), or (c) are shown by the Public Records. EXISTING LEASES AND TENANCIES, IF ANY. RIGHT OF PROPRIETOR OF A VEIN OR LODE TO EXTRACT AND REMOVE HIS ORE THEREFROM SHOULD THE SAME BE FOUND TO PENETRATE OR INTERSECT THE PREMISES AS RESERVED IN UNITED STATES PATENT RECORDED SEPTEMBER 04, 1923, IN BOOK 93 AT PAGE 98 AND IN UNITED STATES PATENT RECORDED MAY 24, 1905, IN BOOK 48 AT PAGE 503. RIGHT OF WAY FOR DITCHES OR CANALS CONSTRUCTED BY THE AUTHORITY OF THE UNITED STATES AS RESERVED IN UNITED STATES PATENT RECORDED SEPTEMBER 04, 1923, IN BOOK 93, AT PAGE 98 AND RECORDED MAY 24, 1905, IN BOOK 48 AT PAGE 503. RESTRICTIVE COVENANTS WHICH DO NOT CONTAIN A FORFEITURE OR REVERTER CLAUSE, BUT OMITTING ANY COVENANTS OR RESTRICTIONS, IF ANY, BASED UPON RACE, COLOR, RELIGION, SEX, SEXUAL ORIENTATION, FAMILIAL STATUS, MARITAL STATUS, DISABILITY, HANDICAP, NATIONAL ORIGIN, ANCESTRY, OR SOURCE OF INCOME, AS SET FORTH IN APPLICABLE STATE OR FEDERAL LAWS, EXCEPT TO THE EXTENT THAT SAID COVENANT OR RESTRICTION IS PERMITTED BY APPLICABLE LAW AS CONTAINED IN INSTRUMENT RECORDED MAY 18, 1970, IN BOOK 217 AT PAGE 675 AND AS The policy or policies to be issued will contain exceptions to the following unless the same are disposed of to the satisfaction of the Company: (Exceptions)Our Order No. A L T A C O M M I T M E N T Schedule B - Section 2 VTF50034429 12. 13. 14. 15. 16. 17. 18. AMENDED IN INSTRUMENT RECORDED OCTOBER 15, 1970, IN BOOK 218 AT PAGE 899. THOSE PROVISIONS, COVENANTS AND CONDITIONS, EASEMENTS AND RESTRICTIONS, WHICH ARE A BURDEN TO THE CONDOMINIUM UNIT DESCRIBED IN SCHEDULE A, BUT OMITTING ANY COVENANTS OR RESTRICTIONS, IF ANY, BASED UPON RACE, COLOR, RELIGION, SEX, SEXUAL ORIENTATION, FAMILIAL STATUS, MARITAL STATUS, DISABILITY, HANDICAP, NATIONAL ORIGIN, ANCESTRY, OR SOURCE OF INCOME, AS SET FORTH IN APPLICABLE STATE OR FEDERAL LAWS, EXCEPT TO THE EXTENT THAT SAID COVENANT OR RESTRICTION IS PERMITTED BY APPLICABLE LAW AS CONTAINED IN INSTRUMENT RECORDED OCTOBER 15, 1970, IN BOOK 218 AT PAGE 901 AND AS AMENDED IN INSTRUMENT RECORDED OCTOBER 11, 1972 IN BOOK 225 AT PAGE 741. STATEMENT OF ELECTION TO ACCEPT THE PROVISIONS OF THE COLORADO COMMON INTEREST OWNERSHIP ACT RECORDED APRIL 25, 1996 IN BOOK 693 AT PAGE 164. TERMS, CONDITIONS AND PROVISIONS OF ACCESS EASEMENT RECORDED AUGUST 07, 1975 IN BOOK 241 AT PAGE 148 AND AS GRANTED IN INSTRUMENT RECORDED SEPTEMBER 9, 1993 IN BOOK 618 AT PAGE 912. TERMS, CONDITIONS AND PROVISIONS OF BROADBAND EASEMENT AND RIGHT OF ENTRY AGREEMENT RECORDED JULY 02, 1997 IN BOOK 731 AT PAGE 18. TERMS, CONDITIONS AND PROVISIONS OF EASEMENT AGREEMENT RECORDED DECEMBER 28, 1992 IN BOOK 597 AT PAGE 565. TERMS, CONDITIONS AND PROVISIONS OF GRANT OF EASEMENT (SURFACE IMPROVEMENTS) RECORDED NOVEMBER 21, 2005 AT RECEPTION NO. 937623. EASEMENTS, CONDITIONS, COVENANTS, RESTRICTIONS, RESERVATIONS AND NOTES ON THE PLAT OF VAIL LIONSHEAD CENTRE CONDOMINIUMS RECORDED OCTOBER 15, 1970 UNDER RECEPTION NO. 114510. EASEMENTS, CONDITIONS, COVENANTS, RESTRICTIONS, RESERVATIONS AND NOTES ON THE FIRST AMENDMENT TO VAIL/LIONSHEAD CENTRE CONDOMINIUM RECORDED OCTOBER 26, 1995 IN BOOK 679 AT PAGE 358. The policy or policies to be issued will contain exceptions to the following unless the same are disposed of to the satisfaction of the Company: (Exceptions)Our Order No. A L T A C O M M I T M E N T Schedule B - Section 2 VTF50034429 19. 20. TERMS, CONDITIONS AND PROVISIONS OF ENCROACHMENT AGREEMENT RECORDED OCTOBER 31, 2008 AT RECEPTION NO. 200823501. TERMS, CONDITIONS AND PROVISIONS OF GRANT OF EASEMENT RECORDED AUGUST 11, 2010 AT RECEPTION NO. 201015737. 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 shall be obtained from the County Treasurer or the County Treasurer's authorized agent. C) The information regarding special districts and the boundaries of such districts may be obtained from the Board of County Commissioners, the County Clerk and Recorder, or the County Assessor. Note: Effective September 1, 1997, CRS 30-10-406 requires that all documents received for recording or filing in the clerk and recorder's office shall contain a top margin of at least one inch and a left, right and bottom margin of at least one half of an inch. The clerk and recorder may refuse to record or file any document that does not conform, except that, the requirement for the top margin shall not apply to documents using forms on which space is provided for recording or filing information at the top margin of the document. Note: Colorado Division of Insurance Regulations 3-5-1, Paragraph C of Article VII requires that "Every title entity shall be responsible for all matters which appear of record prior to the time of recording whenever the title entity conducts the closing and is responsible for recording or filing of legal documents resulting from the transaction which was closed". Provided that Land Title Guarantee Company conducts the closing of the insured transaction and is responsible for recording the legal documents from the transaction, exception number 5 will not appear on the Owner's Title Policy and the Lenders Policy when issued. Note: Affirmative mechanic's lien protection for the Owner may be available (typically by deletion of Exception no. 4 of Schedule B, Section 2 of the Commitment from the Owner's Policy to be issued) upon compliance with the following conditions: A) The land described in Schedule A of this commitment must be a single family residence which includes a condominium or townhouse unit. B) No labor or materials have been furnished by mechanics or material-men for purposes of construction on the land described in Schedule A of this Commitment within the past 6 months. C) The Company must receive an appropriate affidavit indemnifying the Company against un-filed mechanic's and material-men's liens. D) The Company must receive payment of the appropriate premium. E) If there has been construction, improvements or major repairs undertaken on the property to be purchased within six months prior to the Date of the Commitment, the requirements to obtain coverage for unrecorded liens will include: disclosure of certain construction information; financial information as to the seller, the builder and or the contractor; payment of the appropriate premium fully executed Indemnity Agreements satisfactory to the company, and, any additional requirements as may be necessary after an examination of the aforesaid information by the Company. No coverage will be given under any circumstances for labor or material for which the insured has contracted for or agreed to pay. Note: Pursuant to CRS 10-11-123, notice is hereby given: This notice applies to owner's policy commitments containing a mineral severance instrument exception, or exceptions, in Schedule B, Section 2. A) That there is recorded evidence that a mineral estate has been severed, leased, or otherwise conveyed from the surface estate and that there is a substantial likelihood that a third party holds some or all interest in oil, gas, other minerals, or geothermal energy in the property; and B) That such mineral estate may include the right to enter and use the property without the surface owner's permission. Note: Pursuant to CRS 10-1-128(6)(a), It is unlawful to knowingly provide false, incomplete, or misleading facts or information to an insurance company for the purpose of defrauding or attempting to defraud the company. Penalties may include imprisonment, fines, information to an insurance company for the purpose of defrauding or incomplete, or misleading facts or information to a policyholder or claimant for the purpose of defrauding or attempting attempting to defraud the policyholder or claimant with regard to a settlemwnt or award payable from insurance proceeds shall be reported to the Colorado division of insurance within the department of regulatory agencies. 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. DISCLOSURE 02/2011 First American Title Insurance Company PRIVACY POLICY We are Committed to Safeguarding Customer Information In order to better serve your needs now and in the future, we may ask you to provide us with certain information. We understand that you may be concerned about what we will do with such information - particularly any personal or financial information. We agree that you have a right to know how we will utilize the personal information you provide to us. Therefore, together with our parent company, the First American Corporation, we have adopted this Privacy Policy to govern the use and handling of your personal information. Applicability This Privacy Policy governs our use of the information which you provide to us. It does not govern the manner in which we may use information we have obtained from any other source, such as information obtained from a public record or from another person or entity. First American has also adopted broader guidelines that govern our use of personal information regardless of its source. First American calls these guidelines its Fair Information Values, a copy of which can be found on our website at www.firstam.com. Types of Information Depending upon which of our services you are utilizing, the types of nonpublic personal information that we may collect include: * Information we receive from you on applications, forms and in other communications to us, whether in writing, in person, by telephone or any other means; * Information about your transactions with us, our affiliated companies, or others; and * Information we receive from a consumer reporting agency. Use of Information We request information from you for our own legitimate business purposes and not for the benefit of any nonaffiliated party. Therefore, we will not release your information to nonaffiliated parties except: (1) as necessary for us to provide the product or service you have requested to us; or (2) as permitted by law. We may, however, store such information indefinitely, including the period after which any customer relationship has ceased. Such information may be used for any internal purpose, such as quality control efforts or customer analysis. We may also provide all of the types of nonpublic personal information listed above to one or more of our affiliated companies. Such affiliated companies include financial service providers, such as title insurers, property and casualty insurers, and trust and investment advisory companies, or companies involved in real estate services, such as appraisal companies, home warranty companies, and escrow companies. Furthermore, we may also provide all the information we collect, as described above, to companies that perform marketing services on our behalf, on behalf of our affiliated companies, or to other financial institutions with whom we or our affiliated companies have joint marketing agreements. Former Customers Even if you are no longer our customer, our Privacy Policy will continue to apply to you. Confidentiality and Security We will use our best efforts to ensure that no unauthorized parties have access to any of your information. We restrict access to nonpublic personal information about you to those individuals and entities who need to know that information to provide products or services to you. We will use our best efforts to train and oversee our employees and agents to ensure that your information will be handled respnsibly and in accordance with this Privacy Policy and First American's Fair Information values. We currently maintain physical, electronic, and procedural safeguards that comply with referral regulations to guard your nonpublic personal information. WEBSITE Information on the calculation of premiums and other title related charges are listed at First American's website: www.firstam.com NOTICE OF PRIVACY POLICY OF LAND TITLE GUARANTEE COMPANY, INC., A COLORADO CORPORATION AND MERIDIAN LAND TITLE, L.L.C., A COLORADO LIMITED LIABLITY COMPANY, D/B/A LAND TITLE GUARANTEE COMPANY - GRAND JUNCTION This Statement is provided to you as a customer of Land Title Guarantee Company, a Colorado corporation and Meridian Land Title, LLC, d/b/a Land Title Guarantee Company - Grand Junction. We want you to know that we recognize and respect your privacy expectations and the requirements of federal and state privacy laws. Information security is one of our highest priorities. We recognize that maintaining your trust and confidence is the bedrock of our business. We maintain and regularly review internal and external safeguards against unauthorized access to non-public personal information ("Personal Information"). In the course of our business, we may collect Personal Information about you from: * applications or other forms we receive from you, including communications sent through TMX, our web-based transaction management system; * your transactions with, or from the services being performed by, us, our affiliates, or others; * a consumer reporting agency, if such information is provided to us in connection with your transaction; and * the public records maintained by governmental entities that we either obtain directly from those entities, or from our affiliates and non-affiliates. Our policies regarding the protection of the confidentiality and security of your Personal Information are as follows: * We restrict access to all Personal Information about you to those employees who need to know that information in order to provide products and services to you. * We maintain physical, electronic and procedural safeguards that comply with federal standards to protect your Personal Information from unauthorized access or intrusion. * Employees who violate our strict policies and procedures regarding privacy are subject to disciplinary action. * We regularly access security standards and procedures to protect against unauthorized access to Personal Information. WE DO NOT DISCLOSE ANY PERSONAL INFORMATION ABOUT YOU WITH ANYONE FOR ANY PURPOSE THAT IS NOT PERMITTED BY LAW. Consistent with applicable privacy laws, there are some situations in which Personal Information may be disclosed. We may disclose your Personal Information when you direct or give us permission; when we are required by law to do so, for example, if we are served a subpoena; or when we suspect fraudulent or criminal activities. We also 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. Our policy regarding dispute resolution is as follows. Any controversy or claim arising out of or relating to our privacy policy, or the breach thereof, shall be settled by arbitration in accordance with the rules of the American Arbitration Association, and judgment upon the award rendered by the arbitrator(s) may be entered in any court having jurisdiction thereof. Form PRIV.POL.LTG.1 WE DO NOT DISCLOSE ANY PERSONAL INFORMATION ABOUT YOU WITH ANYONE FOR ANY PURPOSE THAT IS NOT PERMITTED BY LAW. CC.FA.06 FIRST AMERICAN TITLE INSURANCE COMPANY, a California corporation ("Company"), for a valuable consideration, commits to issue its policy or policies of title insurance, as identified in Schedule A, in favor of the Proposed Insured names in Schedule A, as owner or mortgage of the estate or interest in the land described or referred to in Schedule A, upon payment of the premiums and charges and compliance with the Requirements; all subject to the provisions of Schedules A and B and to the Conditions of this Commitment. This Commitment shall be effective only when the identity of the Proposed Insured and the amount of the policy or policies committed for have been inserted in Schedule A by the Company. All liability and obligation under this Commitment shall cease and terminate six (6) months after the Effective Date or when the policy or policies committed for shall issue, whichever first occurs, provided that the failure to issue the policy or policies is not the fault of the Company. The Company will provide a sample of the policy form upon request. This Commitment shall not be valid or binding until countersigned by a validating officer or authorized signatory. IN WITNESS WHEREOF, First American Title Insurance Company has caused its corporate name and seal to be affixed by its duly authorized officers on the date shown in Schedule A. CONDITIONS 1. The term mortgage, when used herein, shall include deed of trust, trust deed, or other security instrument. 2. If the proposed Insured has or acquired actual knowledge of any defect, lien, encumbrance, adverse claim or other matter affecting the estate or interest or mortgage thereon covered by this Commitment other than those shown in Schedule B hereof, and shall fail to disclose such knowledge to the Company in writing, the Company shall be relieved from liability for any loss or damage resulting from any act of reliance hereon to the extent the Company is prejudiced by failure to so disclose such knowledge. If the proposed Insured shall disclose such knowledge to the Company, or if the Company otherwise acquires actual knowledge of any such defect, lien encumbrance, adverse claim or other matter, the Company at its option may amend Schedule B of this Commitment accordingly, but such amendment shall not relieve the Company from liability previously incurred pursuant to paragraph 3 of these Conditions and Stipulations. 3. Liability of the Company under this Commitment shall be only to the named proposed Insured and such parties included under the definition of the Insured in the form of policy or policies committed for and only for actual loss incurred in reliance hereon in undertaking in good faith (a) to comply with the requirements hereof, or (b) to eliminate exceptions shown in Schedule B, or (c) to acquire or create the estate or interest or mortgage thereon covered by this Commitment. In no event shall such liability exceed the amount stated in Schedule A for the policy or policies committed for and such liability is subject to the insuring provisions and Conditions and Stipulations and the Exclusions from Coverage of the form of policy or policies committed for in favor of the proposed Insured which are hereby incorporated by reference and are made a part of this Commitment except as expressly modified herein. 4. This Commitment is a contract to issued one or more title insurance policies and is not an abstract of title or a report of the condition of title. Any action or actions or rights of action that the proposed Insured may have or may bring against the Company arising out of the status of the title to the estate or interest or the status of the mortgage thereon covered by this Commitment must be based on and are subject to the provisions of this Commitment. 5. The policy to be issued contains an arbitration clause. All arbitrable matters when the Amount of Insurance is $2,000,000 or less shall be arbitrated at the option of either the Company or the Insured as the exclusive remedy of the parties. You may review a copy of the arbitration rules as www.alta.org Issued by: LAND TITLE GUARANTEE COMPANY 3033 EAST FIRST AVENUE SUITE 600 PO BOX 5440 (80217) DENVER, CO 80217 _____________________________________________________ Authorized Officer or Agent Commitment for Title Insurance ISSUED BY First American Title Insurance Company FIRST AMERICAN TITLE INSURANCE COMPANY Dennis J. GilmorePresident Timothy KempSecretary