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Home My WebLink AboutPEC120049 Project Name:FLEEGER 2ND CURB CUT PEC Number: PEC120049 Project Description: VARIANCE TO ALLOW AN ADDITIONAL CURB CUT TO A NEW SINGLE FAMILY HOME. THE EXISTING DRIVEWAY CURB CUT WILL REMAIN AND A NEW CURB CUT WOULD BE PLACED TO THE EAST. THIS ALLOWS ALL EXISTING TREES TO REMAIN. WITHOUT AN ADDITIONAL CURB CUT THE EXISTING Participants: OWNER FLEEGER, MATTHEW 12/28/2012 6640 SPRING VALLEY RD DALLAS TX 75254-8635 ARCHITECT BERGLUND ARCHITECTS 12/28/2012 Phone: 970-926-4301 PO BOX 2378 EDWARDS CO 81632 License: C000002069 APPLICANT FLEEGER, MATTHEW 12/28/2012 6640 SPRING VALLEY RD DALLAS TX 75254-8635 Project Address:2950 BOOTH CREEK DR VAIL Location: Legal Description:Lot: 2 Block: 3 Subdivision: VAIL VILLAGE FILING 11 Parcel Number:2101-034-0500-7 Comments: BOARD/STAFF ACTION Motion By:Kurz Action: DENIED Second By:Pratt Vote:5-2-0 (Bird, Hopkins opp)Date of Approval: Conditions: Cond: 8 (PLAN): No changes to these plans may be made without the written consent of Town of Vail staff and/or the appropriate review committee(s). Cond: 300 (PLAN): PEC approval shall not be not become valid for 20 days following the date of approval. Planner: PEC Fee Paid: $500.00 L]IID LE �Department of Community Development (DEC 2 8 2012 75 South Frontage Road TOWN OF VAIL s Vail, CO 81667 Tel: 970 -479 -2128 WN OF VAIL www.valigov.com Development Review Coordinator Variance Request Application for Review by the Planning and Environmental Commission General Information: Variances may be granted in order to prevent or to lessen such practical difficulties and unneces- sary physical hardships as would result from the strict interpretation and /or enforcement of the zoning regulations incon- sistent with the development objectives of the Town of Vail. A practical difficulty or unnecessary physical hardship may result from the size, shape, or dimensions of a site or the location of existing structures thereon; from topographic or physical conditions on the site or in the immediate vicinity; or from other physical limitations, street locations or condi- tions in the immediate vicinity. Cost or inconvenience to the applicant of strict or literal compliance with a regulation shall not be a reason for granting a variance. The Vail Town Code can be found on the Town's website at www.vailgov.com The proposed project may also require other permits or applications and /or review by the Design Review Board and /or Town Council. Fee: $500 Description of the Request: To allow an additional curb cut to a new single family home. The existing driveway curb cut will remain and a new curb cut would be placed to the east. This allows all existing trees to remain. With out an additional curb cut the existing driveway will be abandoned and a significant existing tree would be removed. Physical Address• 2950 Booth Creek Drive Parcel Number: 2101- 034 -05 -007 Property Owner: Matt and Candee Fleeger (Contact Eagle Co. Assessor at 970 - 328 -8640 for parcel no.) Mailing Address: 6640 Spring Valley Rd. Dallas, TX 75254 Owner's Signature: Primary Contact/ Owner Phone: (214) 878 -0333 Berglund Architects Mailing Address: P.O. Box 2378 Edwards, CO 81632 Phone: (970) 926 -4301 E -Mall: hans @berglundarchitects.com Fax: (970) 926 -4364 For Office Use Only: Cash, CC: Visa / MC Last 4 CC # Exp. Date: Auth # Check # Fee Paid: 500.0o Meeting Date: Planner: Received From: nEkrt Lu u n RRr u i T C-_-CT <, LC PECNo. PeclaGGy9 Project No: �R 1 - o 4? 9 9 Zoning: Land Use: Location of the Proposal. Lot: sj Block: 3 Subdivision: Vj 1 1 Ul (.1,14 q E. fl u &)a i ************************************************************* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * ** TOWN OF VAIL, COLORADO Statement ************************************************************* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * ** Statement Number: R120002025 Amount: $500.00 12/28/201208:53 AM Payment Method: Check Init: DR Notation: CK# 4426 BERGLUND ARCHITECTS LLC ----------------------------------------------------------------------------- Permit No: PEC120049 Type: PEC - Variance Parcel No: 2101 - 034 - 0500 -7 Site Address: 2950 BOOTH CREEK DR VAIL Location: Total Fees: $500.00 This Payment: $500.00 Total ALL Pmts: $500.00 Balance: $0.00 ************************************************************* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * ** ACCOUNT ITEM LIST: Account Code Description Current Pmts -------------- - - - - -- ------------------------ - - - - -- ------ - - - - -- PV 00100003112500 PEC APPLICATION FEES 500.00 B E RG L U N E) ARCHITECTS, LLC Planning and Environmental Commission, Matt Fleeger, owner of 2950 Booth Creek Drive, Vail, CO 81657 (Lot 2, Block 3, Vail Village filing 11) proposes to tear down the existing house in order to build a new single family home. The proposed home is currently designed to have the existing driveway curb cut to remain and a new curb cut would be placed approximately 40' to the east. This allows all existing mature spruce trees along the road to remain. Without an additional curb cut the existing driveway will be abandoned and in order for the proper turn around radiuses to be provided the new driveway would be required to be located in between the proposed two driveways such that a significant existing tree would be required to be removed. The Town development standards do allow a maximum 2 curb cuts per lot for PS zoning per Section 14 -3 -1. It does also state that only 1 per street per unit. If this was to be developed as a two dwelling unit home the logical driveway would be designed as proposed. The road and site have gentle slopes so no significant re- grading is required for the second curb cut. There is actually less re- grading for the driveway with the second curb cut. There are examples of other single family properties in the town with two driveway cuts. The impact of this additional cut to surrounding properties will be minimal in that the project is located towards the end of a dead end street and traffic is low volume. The project is not located on a bus route. The ability to keep the existing trees and existing driveway cut will help maintain the current aesthetic of the site and keep the impact of the new construction to a minimum for the surrounding areas. Sincerely, Hans Berglund P.O. Box 2378, Edwards, CO 81632 Tel: 970 926 -4301 fax: 970 926 -4364 Property Record Card Eagle WILLIAMS, KIT C. - Account: R003905 Parcel: 2101 - 034 -06 -005 DUNNING, GAIL B. Tax Area: SC 103 - VAIL (TOWN) - Situs Address: SC 103 002925 BOOTH CREEK DR 2925 BOOTH CREEK DR Acres: 0.425 VAIL AREA, 0 VAIL, CO 81657 Value Summary Legal Description Value By: Market Subdivision: VAIL VILLAGE FILING I I Block: 2 Lot: 2 BK -0245 Override PG -0757 Land (1) $486,990 N/A BK -0383 PG -0625 02 -10 -84 Single Family $648,540 N/A BK -0223 PG -0205 11-1-71 Residence (1) Extra Feature (1) $2,430 N/A Total $1,137,960 $1,137,960 Land Occurrence 1 Abstract Code 1112 - SINGLE FAM.RES. -LAND Percentage 100.0 Use Code 1000 - RESIDENTIAL Neighborhood 208 - VAIL VILLAGE FILE 11 Land Code 6853 - BOOTH CREEK Super Neighborhood 100 - EAST VAIL / BOOTH FALLS Size 0.425 Zoning 27 - 2FAM SubArea ACTUAL EFFECTIVE HEATED FOOTPRINT Land U 6957 Total 6,957.00 Value Rate Rate Rate Rate $486,990 70.00 Single Family Residence Occurrence 1 Abstract Code 1212 - SINGLE FAM.RES- Percentage 100.0 IMPROVEMTS Use Code 1000 - RESIDENTIAL Neighborhood 208 - VAIL VILLAGE FILE 11 A #: R003905 P#: 210103406005 As of: 12/27/2012 Page 1 of 2 Property Record Card Eagle Single Family Residence Occurrence 1 Taxable Abstract Code 1212 - SINGLE FAM.RES- Building Type 121200 - SFR Override Arch Style 3 - 2 STORY 100.0 Exterior Wall 14 - WD SID AVG 1000 - RESIDENTIAL Percentage 100.0 $51,820 Roof Cover 9 - CEDAR SHAK SubArea Roof Structure 2-SHED EFFECTIVE Interior Wall 5 - DRYWALL Percentage 100.0 Floor 8 - SHT VINYL 1.00 Percentage 20.0 Value 14 - CARPET INV Rate Rate Rate 80.0 $2,430 Heating Fuel 3 - GAS Heating Type 5 - HT WTR B/B Air Conditioning 1 - NONE Actual Year Built 1977 Bedrooms 3 Bathrooms 3 Construction Quality 4-AVERAGE Effective Year Built 1977 Fixtures 11 Rooms 6 Units 1 Units I Super Neighborhood 100 - EAST VAIL / BOOTH FALLS Stories 2 - STORIES 2.0 Use Code 1000 - RESIDENTIAL Garage 1.5 - GARAGE 351 -500 SubArea ACTUAL EFFECTIVE HEATED FOOTPRINT BAS 1769 1769 1769 1769 GAF 400 400 ONE 1237 1237 1237 1237 WDB 76 19 76 Total 3,482.00 3,025.00 3,006.00 3,482.00 Value Rate Rate Rate Rate $648,540 186.26 214.39 215.75 186.26 Extra Feature Occurrence 1 XFOB Code 110 - FIREPL. A. Taxable Abstract Code 1212 - SINGLE FAM.RES- Value Override IMPROVEMTS Percentage 100.0 $38,760 Use Code 1000 - RESIDENTIAL Neighborhood 208 - VAIL VILLAGE FILE I 1 $51,820 Building Number 0 SubArea $1,137,960 ACTUAL EFFECTIVE HEATED FOOTPRINT XFOB Units 1 Total 1.00 Value Rate Rate Rate Rate $2,430 2,430.00 Abstract Summa Code Classification Actual Value Taxable Actual Taxable Value Override Override 1112 SINGLE FAM.RES. -LAND $486,990 $38,760 NA NA 1212 SINGLE FAM.RES- IMPROVEMTS $650,970 $51,820 NA NA Total $1,137,960 $90,580 NA NA A #: R003905 P #: 210103406005 As of: 12/27/2012 Page 2 of 2 MORRIS, JOHN R. - ETAL WELSH, DONALD V. Property Record Card Eagle Account: R045513 Tax Area: SC 103 - VAIL (TOWN) - SC 103 Acres: 0.186 Parcel: 2101- 034 -06 -016 Situs Address: 002945 BOOTH CREEK DR VAIL AREA, 0 4004 DUPONT CIR STE 220 LOUISVILLE, KY 40207 -4819 Value Summary Legal Description Value By: Market Override 1 Subdivision: VAIL VILLAGE FILING 11 Block: 2 Lot: 3 PARCEL Land (1) $229,040 N/A BK -0728 PG -0001 MAP 05 -30 -97 BK -0728 PG -0002 DEC 05 -30 -97 Single Family $908,520 N/A BK -0728 PG -0003 QCD 05 -23 -97 Residence (1) Extra Feature (1) $3,140 N/A Total $1,140,700 $1,140,700 Sale Data Doc. # Sale Date Deed Type Validity Verified Sale Price Ratio Adj. Price Ratio Time Adj. Ratio Price 200610851 04/24/2006 WD QV Y $850,000 134.20 $847,500 134.60 $877,586 129.98 Land Occurrence 1 Abstract Code 1112 - SINGLE FAM.RES. -LAND Percentage 100.0 Use Code 1000 - RESIDENTIAL Neighborhood 208 - VAIL VILLAGE FILE 11 Land Code 6853 - BOOTH CREEK Super Neighborhood 100 - EAST VAIL / BOOTH FALLS Size 0.186 Zoning 27 - 2FAM SubArea ACTUAL EFFECTIVE HEATED FOOTPRINT Land U 3272 Total 3,272.00 Value Rate $229,040 70.00 A #: R045513 P#: 210103406016 As of: 12/27/2012 Rate Rate Rate Page 1 of 3 Property Record Card Eagle Land Occurrence 1 Single Family Residence Occurrence 1 Abstract Code 1212 - SINGLE FAM.RES- Percentage 100.0 FOOTPRINT IMPROVEMTS 1130.8 1130.8 Use Code 1000 - RESIDENTIAL Neighborhood 208 - VAIL VILLAGE FILE 11 Building Type 121500 - DUP- TRIPLEX Arch Style 3 - 2 STORY Exterior Wall 14 - WD SID AVG Percentage 95 GAF 31 - STONE VEN 5 Roof Cover 4 - BUILT -UP Roof Structure 1 - FLAT Interior Wall 5 - DRYWALL Percentage 100 Floor 14 - CARPET INV Percentage 50 3,575.70 12 - HARDWOOD 2,619.60 50 Heating Fuel 3 -GAS Heating Type 5 - HT WTR B/B Air Conditioning 1 - NONE Actual Year Built 1977 Bedrooms 4 Bathrooms 4.5 Construction Quality 5 - GOOD Effective Year Built 1995 Fixtures 10 Rooms 7 Units 1 Units 1 Super Neighborhood 100 - EAST VAIL / BOOTH FALLS Stories 2 - STORIES 2.0 Use Code 1000 - RESIDENTIAL Garage 1 - GARAGE 001 -350 SubArea ACTUAL EFFECTIVE HEATED FOOTPRINT BAS 1130.8 1130.8 1130.8 1130.8 FOP 17.3 5.2 17.3 FUS 1488.8 1488.8 1488.8 1488.8 GAF 340.8 340.8 PTO 261.5 18.3 261.5 WDD 336.5 67.3 336.5 Total 3,575.70 2,710.40 2,619.60 3,575.70 Value Rate Rate Rate Rate $908,520 254.08 335.20 346.82 254.08 A #: R045513 P #: 210103406016 As of: 12/27/2012 Page 2 of 3 Property Record Card Eagle Single Family Residence Occurrence 1 PTO 32.0' 261.5 BAS 1130.8 14.5' J 6 1. r GAF °a 4s' 13.6 FOP Sds .y 17.3 Extra Feature Occurrence 1 �5 3� 7 '?s 5 XFOB Code 110 - FIREPL. A. Taxable Abstract Code 1212 - SINGLE FAM.RES- Value Override IMPROVEMTS Percentage 100.0 $18,230 Use Code 1000 - RESIDENTIAL Neighborhood 208 - VAIL VILLAGE FILE 1 I $72,570 Building Number 1 SubArea $1,140,700 ACTUAL EFFECTIVE HEATED FOOTPRINT XFOB Units 1 Total 1.00 Value Rate Rate Rate Rate $3,140 3,140.00 Abstract Summar Code Classification Actual Value Taxable Actual Taxable Value Override Override 1112 SINGLE FAM.RES. -LAND $229,040 $18,230 NA NA 1212 SINGLE FAM.RES- IMPROVEMTS $911,660 $72,570 NA NA Total $1,140,700 $90,800 NA NA A #: R045513 P #: 210103406016 As of: 12/27/2012 Page 3 of 3 Property Record Card Eagle MORRIS, JOAN E. & JOHN Account: R045514 Parcel: 2101 - 034 -06 -017 R. Tax Area: SC 103 - VAIL (TOWN) - Situs Address: SC 103 002945 BOOTH CREEK DR 6302 CRESTCREEK CT Land Occurrence 1 Acres: 0.166 VAIL AREA, 0 LOUISVILLE, KY 40241 Value Summary Legal Description Value B Market Override Subdivision: VAIL VILLAGE FILING I I Block: 2 Lot: 3 PARCEL 2 Y BK -0728 PG -0001 MAP 05 -30 -97 Land (1) $229,040 N/A BK -0728 PG -0002 DEC 05 -30 -97 BK -0728 PG -0004 QCD 05 -23 -97 Single Family $959,080 N/A Occurrence 1 Residence (1) Extra Feature (1) $3,930 N/A Total $1,192,050 $1,192,050 Public Remarks Entry Date Model Remark Land Occurrence 1 Single Family Residence Occurrence 1 Sale Data Doc. # Sale Date Deed Type Validity Verified Sale Price Ratio Adj. Price Ratio Time Adj. Ratio Price 805656 08/19/2002 WD QV Y $1,150,000 103.66 $1,150,000 103.66 $1,736,500 68.65 689804 03/15/1999 WD QV Y $845,000 141.07 $845,000 141.07 $3,380 35267.75 B: 000728 P: 05/23/1997 WD QV Y $525,000 227.06 $525,000 227.06 $2,100 56764.29 000005 Land Occurrence 1 Abstract Code 1112 - SINGLE FAM.RES. -LAND Percentage 100.0 A #: R045514 P #: 210103406017 As of: 12/27/2012 Page 1 of 3 Property Record Card Eagle Land Occurrence 1 Use Code 1000 - RESIDENTIAL Neighborhood 208 - VAIL VILLAGE FILE I I Land Code 6853 - BOOTH CREEK Super Neighborhood 100 - EAST VAIL / BOOTH FALLS Size 0.166 Zoning 27 - 2FAM SubArea ACTUAL EFFECTIVE HEATED FOOTPRINT Land U 3272 Total 3,272.00 Value Rate Rate Rate Rate $229,040 70.00 Single Family Residence Occurrence 1 Abstract Code 1212 - SINGLE FAM.RES- Percentage 100.0 IMPROVEMTS Use Code 1000 - RESIDENTIAL Neighborhood 208 - VAIL VILLAGE FILE 1 l Building Type 121500 - DUP- TRIPLEX Arch Style 3 - 2 STORY Exterior Wall 14 - WD SID AVG Percentage 95.0 31 - STONE VEN 5.0 Roof Cover 4 - BUILT -UP Roof Structure I - FLAT Interior Wall 5 - DRYWALL Percentage 100.0 Floor 14 - CARPET INV Percentage 40.0 23 - CERAMIC TL 60.0 Heating Fuel 3 - GAS Heating Type 3 - FORCED AIR Air Conditioning I - NONE Actual Year Built 1977 Bedrooms 4 Bathrooms 4.5 Construction Quality 5 - GOOD Effective Year Built 1991 Fixtures 16 Rooms 7 Units I Units 1 Super Neighborhood 100 - EAST VAIL / BOOTH FALLS Stories 2 - STORIES 2.0 Use Code 1000 - RESIDENTIAL Garage 1 - GARAGE 001 -350 SubArea ACTUAL EFFECTIVE HEATED FOOTPRINT BAS 1259.8 1259.8 1259.8 1259.8 FOP 45.0 13.5 45.0 FUS 1612.8 1612.8 1612.8 1612.8 GAF 326.3 326.3 W DD 707.5 141.5 707.5 Total 3,951.40 3,027.60 2,872.60 3,951.40 Value Rate Rate Rate Rate $959,080 242.72 316.78 333.87 242.72 A #: R045514 P#: 210103406017 As of: 12/27/2012 Page 2 of 3 Property Record Card Eagle Single Family Residence Occurrence 1 32.5' 11.5' /•� GAF " 326.3 BAS 14.5' 1259.8 10.5' 9.a s. a FOP 90' s.a be.a b 45.0 _. 9M 14.5 a ' 4A w b FUS 0.5 1612.8 ts.a �b 9.5' 5,0' ry � Extra Feature Occurrence 1 XFOB Code 120 - FIREPL. G. Abstract Code Percentage 100.0 Use Code Neighborhood 208 - VAIL VILLAGE FILE I 1 Building Number SubArea ACTUAL EFFECTIVE XFOB Units I Total 1.00 Value Rate Rate $3,930 3,930.00 Abstract Summar Code Classification 1112 SINGLE FAM.RES. -LAND 1212 SINGLE FAM.RES- IMPROVEMTS Total 1212 - SINGLE FAM.RES- IMPROVEMTS 1000 - RESIDENTIAL 1 HEATED FOOTPRINT Rate Rate Actual Value Taxable Actual Taxable Value Override Override $229,040 $18,230 NA NA $963,010 $76,660 NA NA $1,192,050 $94,890 NA NA A #: R045514 P #: 210103406017 As of: 12/27/2012 Page 3 of 3 Property Record Card Eagle VALLS, BART & AIMEE Account: R006805 Parcel: 2101 - 034 -05 -005 3950 S HUDSON WAY Tax Area: SC 103 - VAIL (TOWN) - Situs Address: ENGLEWOOD, CO 80113 -5136 SC 103 002930 BOOTH CREEK DR Acres: 0.203 08/20/2010 WD QV VAIL AREA, 0 Value Summary $2,090,000 Legal Description 897880 Value By: Market Override Subdivision: VAIL VILLAGE FILING I I Block: 3 Lot: 1 PT OF BK $2,990,771 60.75 -0228 PG -0624 Land (1) $533,700 N/A BK -0288 PG -0785 Abstract Code Single Family $1,273,360 g Y N/A 87361 16 PG -0787 87361 16 DEC 08 -07 -00 Residence (1) Use Code 1000 - RESIDENTIAL Neighborhood Extra Feature (1) $6,620 N/A Land Code Extra Feature (2) $3,310 N/A 100 - EAST VAIL / BOOTH FALLS Total $1,816,990 $1,816,990 0.203 Zoning Sale Data Doc. # Sale Date Deed Type Validity Verified Sale Price Ratio Adj. Price Ratio Time Adj. Ratio Price 201016756 08/20/2010 WD QV Y $2,100,000 86.52 $2,090,000 86.94 $2,090,000 86.94 897880 11/11/2004 WD UV Y $2,147,000 84.63 $2,147,000 84.63 $2,990,771 60.75 Land Occurrence 1 Abstract Code 1112 - SINGLE FAM.RES. -LAND Percentage 100.0 Use Code 1000 - RESIDENTIAL Neighborhood 208 - VAIL VILLAGE FILE 1 I Land Code 6853 - BOOTH CREEK Super Neighborhood 100 - EAST VAIL / BOOTH FALLS Size 0.203 Zoning 27 - 2FAM SubArea ACTUAL EFFECTIVE HEATED FOOTPRINT Land U 3558 Total 3,558.00 Value Rate Rate Rate Rate A #: R006805 P #: 210103405005 As of: 12/27/2012 Page 1 of 4 Land Occurrence 1 Property Record Card Eagle $533,700 150.00 Single Family Residence Occurrence 1 Abstract Code 1212 - SINGLE FAM.RES- Percentage 100.0 FOOTPRINT IMPROVEMTS 1520.1 1520.1 Use Code 1000 - RESIDENTIAL Neighborhood 208 - VAIL VILLAGE FILE 1 I Building Type 121500 - DUP- TRIPLEX Arch Style 3 - 2 STORY Exterior Wall 16 - FR STUCCO Percentage 80.0 FUS 31 - STONE VEN 519.8 20.0 Roof Cover 9 - CEDAR SHAK Roof Structure 3 - GABLE /HIP Interior Wall 5 - DRYWALL Percentage 100.0 Floor 14 - CARPET INV Percentage 80.0 464.0 12 - HARDWOOD 20.0 Heating Fuel 3 - GAS Heating Type 5 - HT WTR B/B Air Conditioning 1 - NONE Actual Year Built 1972 Bedrooms 4 Bathrooms 3.5 Construction Quality 9 - GOOD PLUS Effective Year Built 2000 Fixtures 14 Rooms 8 Units 1 Units 1 Super Neighborhood 100 - EAST VAIL / BOOTH FALLS Stories 2 - STORIES 2.0 Use Code 1000 - RESIDENTIAL Garage 1 - GARAGE 001 -350 SubArea ACTUAL EFFECTIVE HEATED FOOTPRINT BAS 1520.1 1520.1 1520.1 1520.1 FBM 1359.0 1087.2 1359.0 1359.0 FOP 80.0 24.0 80.0 FUS 519.8 519.8 519.8 519.8 GAF 318.8 318.8 PTO 160.0 11.2 160.0 WDB 464.0 116.0 464.0 Total 4,421.70 3,278.30 3,398.90 4,421.70 Value Rate Rate Rate Rate $1,273,360 287.98 388.42 374.64 287.98 A #: R006805 P#: 210103405005 As of: 12/27/2012 Page 2 of 4 Property Record Card Eagle Single Family Residence Occurrence 1 no II V t800 160' 18.5' too FBM - Fes, 1150 So FUS taNV �v 519.8 v lv 50 �1 it 5' Extra Feature Occurrence 1 XFOB Code 130 - FIREPL. EX Abstract Code 1212 - SINGLE FAM.RES- IMPROVEMTS Percentage 100.0 Use Code 1000 - RESIDENTIAL Neighborhood 208 - VAIL VILLAGE FILE 1 I Building Number 1 SubArea ACTUAL EFFECTIVE HEATED FOOTPRINT XFOB Units 1 Total 1.00 Value Rate Rate Rate Rate $6,620 6,620.00 Extra Feature Occurrence 2 XFOB Code 110 - FIREPL. A. Abstract Code 1212 - SINGLE FAM.RES- IMPROVEMTS Percentage 100 Use Code 1000 - RESIDENTIAL Neighborhood 208 - VAIL VILLAGE FILE 11 SubArea ACTUAL EFFECTIVE HEATED FOOTPRINT XFOB Units 1 Total 1.00 Value Rate Rate Rate Rate $3,310 3,310.00 Abstract Summar Code Classification Actual Value Taxable Actual Taxable Value Override Override 1112 SINGLE FAM.RES. -LAND $533,700 $42,480 NA NA A #: R006805 P #: 210103405005 As of: 12/27/2012 Page 3 of 4 Property Record Card Eagle Abstract Summary 1212 SINGLE FANI RES- IMPROVEMTS $1,283,290 $102,150 NA NA Total $1,816,990 $144,630 NA NA A #: R006805 P #: 210103405005 As of: 12/27/2012 Page 4 of 4 Property Record Card Eagle BANNER, M. R., III & Account: R005085 Parcel: 2101- 034 -05 -006 ELAINE T. - ETAL Tax Area: SC 103 - VAIL (TOWN) - Situs Address: ELAINE & MATTHEW SC 103 002930 BOOTH CREEK DR BANNER VAIL Acres: 0.250 VAIL AREA, 0 RESIDENCE TRUST 1540 ROCKMONT CIR BOULDER, CO 80303 Value Summary Legal Description Value By: Market Override Subdivision: VAIL VILLAGE FILING 11 Block: 3 Lot: 1 PT OF BK -0228 PG -0787 04 -13 -73 Land (1) $533,700 N/A BK -0517 PG -0797 WD 08 -30 -89 Single Family $1,248,510 N/A R736116 DEC 08 -07 -00 Residence (1) Extra Feature (1) $6,620 N/A Total $1,788,830 $1,788,830 Public Remarks Entry Date Model Remark Land Occurrence 1 Single Family Residence Occurrence I Sale Data Doc. # Sale Date Deed Type Validity Verified Sale Price Ratio Adj. Price Ratio Time Adj. Ratio Price B: 0255 P: 0388 05/09/1977 WD Y $112,000 1597.17 $112,000 1597.17 $112,000 1597.17 A #: R005085 P #: 210103405006 As of: 12/27/2012 Page 1 of 3 Property Record Card Eagle Land Occurrence 1 Abstract Code 1112 - SINGLE FAM.RES. -LAND Percentage 100.0 Use Code 1000 - RESIDENTIAL Neighborhood 208 - VAIL VILLAGE FILE I 1 Land Code 6853 - BOOTH CREEK Super Neighborhood 100 - EAST VAIL / BOOTH FALLS Size 0.25 Zoning 27 - 2FAM SubArea ACTUAL EFFECTIVE HEATED FOOTPRINT Land U 3558 100.0 Total 3,558.00 A #: R005085 P #: 210103405006 As of: 12/27/2012 Page 2 of 3 Value Rate Rate Rate Rate $533,700 150.00 Single Family Residence Occurrence 1 Abstract Code 1212 - SINGLE FAM.RES- Percentage 100.0 IMPROVEMTS Use Code 1000 - RESIDENTIAL Neighborhood 208 - VAIL VILLAGE FILE 11 Building Type 121500 - DUP- TRIPLEX Arch Style 3 - 2 STORY Exterior Wall 16 - FR STUCCO Percentage 80.0 31 - STONE VEN 20.0 Roof Cover 9 - CEDAR SHAK Roof Structure 3 - GABLE /HIP Interior Wall 5 - DRYWALL Percentage 100.0 Floor 14 - CARPET INV Percentage 80.0 12 - HARDWOOD 20.0 Heating Fuel 3 - GAS Heating Type 5 - HT WTR B/B Air Conditioning I - NONE Actual Year Built 1972 Bedrooms 3 Bathrooms 5 Construction Quality 9 - GOOD PLUS Effective Year Built 2000 Fixtures 20 Rooms 6 Units I Units 1 Super Neighborhood 100 - EAST VAIL / BOOTH FALLS Stories 2 - STORIES 2.0 Use Code 1000 - RESIDENTIAL Garage 1 - GARAGE 001 -350 SubArea ACTUAL EFFECTIVE HEATED FOOTPRINT BAS 1455.3 1455.3 1455.3 1455.3 FBM 961.7 769.4 961.7 961.7 FOP 120.0 36.0 120.0 FUS 615.5 615.5 615.5 615.5 GAF 318.8 318.8 PTO 89.2 6.2 89.2 STO 216.5 173.2 216.5 WDB 614.0 153.5 614.0 Total 4,391.00 3,209.10 3,032.50 4,391.00 Value Rate Rate Rate Rate $1,248,510 284.33 389.05 411.71 284.33 A #: R005085 P #: 210103405006 As of: 12/27/2012 Page 2 of 3 Property Record Card Eagle Single Family Residence Occurrence 1 25.0' FBM 961] a STO 216.5 S FIN UPPER STRV 615.0 FT° 2.0' PTO e � 692 qt 17.5' 25.5' 3.5' S MAIN FLR AREA GAF 1455.0 FT' 319.0 15.0' 25.5' ,SFINOPENP CH 120.0 F V 35.0' ry 9� 20.0' b S WOOD BALCONY 614.0 FT' J 75.0' s..r. w.o.. N -. Extra Feature Occurrence 1 20.0' Taxable XFOB Code 110 - FIREPL. A. Taxable Abstract Code 1212 - SINGLE FAM.RES- Value Override Override IMPROVEMTS Percentage 100.0 $42,480 Use Code 1000 - RESIDENTIAL Neighborhood 208 - VAIL VILLAGE FILE 11 $1,255,130 Building Number 1 SubArea ACTUAL EFFECTIVE HEATED FOOTPRINT XFOB Units 2 Total 2.00 Value Rate Rate Rate Rate $6,620 3,310.00 Abstract Summar Code Classification Actual Value Taxable Actual Taxable Value Override Override 1112 SINGLE FAM.RES. -LAND $533,700 $42,480 NA NA 1212 SINGLE FAM.RES- IMPROVEMTS $1,255,130 $99,910 NA NA Total $1,788,830 $142,390 NA NA A #: R005085 P #: 210103405006 As of: 12/27/2012 Page 3 of 3 Stewart title September 19, 2012 Matthew Fleeger 6640 Spring Valley Drive Dallas, TX 75254 Cindy Denney Escrow Officer File No: 01330 -11064 Property Address: 2950 Booth Creek Drive, Vail, CO 81657 Dear Customer: Stewart Title - Edwards 97 Main Street, Ste W -201 Edwards, CO 81632 (970) 766 -0232 Phone (970) 926 -0235 Fax cdenney @stewart.com Congratulations on your recent real estate purchase. Enclosed is your Owner's Title Policy. The policy premium was paid for by the Seller at the time of closing, so there are no monies due from you in this regard. Please review and retain your policy with your other valuable records. We have a permanent file regarding your property and can offer expedient and cost efficient service with your future transactions. In the event you decide to sell or refinance your property in the future, please contact us for special discounts and faster service. You may access all your closing documents through the Internet on SureClose by visiting www.stewartcolorado.com. You may contact your local Escrow Officer for login and password information. Sincerely, Stewart Title - Edwards ALTA Owner's Policy (6/17/06) POLICY OF TITLE INSURANCE ISSUED BY rt title guaranty company Any notice of claim and any other notice or statement in writing required to be given the Company under this Policy must be given to the Company at the address shown in Section 18 of the Conditions. COVERED RISKS SUBJECT TO THE EXCLUSIONS FROM COVERAGE, THE EXCEPTIONS FROM COVERAGE CONTAINED IN SCHEDULE B AND THE CONDITIONS, STEWART TITLE GUARANTY COMPANY, a Texas corporation, (the "Company ") insures, as of Date of Policy and, to the extent stated in Covered Risks 9 and 10, after Date of Policy, against loss or damage, not exceeding the Amount of Insurance, sustained or incurred by the Insured by reason of: 1. Title being vested other than as stated in Schedule A. 2. Any defect in or lien or encumbrance on the Title. This Covered Risk includes but is not limited to insurance against loss from (a) A defect in the Title caused by (i) forgery, fraud, undue influence, duress, incompetency, incapacity, or impersonation, (ii) failure of any person or Entity to have authorized a transfer or conveyance; (iii) a document affecting Title not properly created, executed, witnessed, sealed, acknowledged, notarized, or delivered, (iv) failure to perform those acts necessary to create a document by electronic means authorized by law; (v) a document executed under a falsified, expired, or otherwise invalid power of attorney, (vi) a document not properly fled, recorded, or indexed in the Public Records including failure to perform those acts by electronic means authorized by law; or (vii) a defective judicial or administrative proceeding. (b) The lien of real estate taxes or assessments imposed on the Title by a governmental authority due or payable, but unpaid. (c) 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. The term "encroachment" includes encroachments of existing improvements located on the Land onto adjoining land, and encroachments onto the Land of existing improvements located on adjoining land. 3. Unmarketable Title. 4. No right of access to and from the Land. 5 The violation or enforcement of any law, ordinance, permit, or governmental regulation (including those relating to building and zoning) restricting, regulating, prohibiting, or relating to (a) the occupancy, use, or enjoyment of the Land, (b) the character, dimensions, or location of any improvement erected on the Land; (c) the subdivision of land; or (d) environmental protection if a notice, describing any part of the Land, is recorded in the Public Records setting forth the violation or intention to enforce, but only to the extent of the violation or enforcement referred to in that notice. 6. An enforcement action based on the exercise of a governmental police power not covered by Covered Risk 5 if a notice of the enforcement action, describing any part of the Land, is recorded in the Public Records, but only to the extent of the enforcement referred to in that notice. 7. The exercise of the rights of eminent domain if a notice of the exercise, describing any part of the Land, is recorded in the Public Records. 8. Any taking by a governmental body that has occurred and is binding on the rights of a purchaser for value without Knowledge. Countersigned by: stewart � -- ' //� � Senior Chairman of the Board GU title quararrty company A prized Countersignature Stewart Title 110 97 Main Street, Suite VV201 aaPO ys Edwards, CO 81632' �` -� Chairman of the Board Agent ID: 060058 re ii „p'•„ ° "' President If you want information about coverage or need assistance to resolve complaints, please call our toll free number: 1- 800 - 729 -1902. If you make a claim under your policy, you must furnish written notice in accordance with Section 3 of the Conditions. Visit our World -Wide Web site at http: / /wvvw.stewart.Gom. 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 -11064 stayV t v- Page 1 of Policy Serial No.: 0- 9301- 001840193 togua- a„tr.:o -Part' JV COVERED RISKS (Continued) 9. Title being vested other than as stated in Schedule A or being defective (a) as a result of the avoidance in whole or in part, or from a court order providing an alternative remedy, of a transfer of all or any part of the title to or any interest in the Land occurring prior to the transaction vesting Title as shown in Schedule A because that prior transfer constituted a fraudulent or preferential transfer under federal bankruptcy, state insolvency, or similar creditors' rights laws; or (b) because the instrument of transfer vesting Title as shown in Schedule A constitutes a preferential transfer under federal bankruptcy, state insolvency, or similar creditors' rights laws by reason of the failure of its recording in the Public Records (i) to be timely; or (ii) to impart notice of its existence to a purchaser for value or to a judgment or lien creditor. 10. Any defect in or lien or encumbrance on the Title or other matter included in Covered Risks 1 through 9 that has been created or attached or has been filed or recorded in the Public Records subsequent to Date of Policy and prior to the recording of the deed or other instrument of transfer in the Public Records that vests Title as shown in Schedule A. The Company will also pay the costs, attorneys' fees, and expenses incurred in defense of any matter insured against by this Policy, but only to the extent provided in the Conditions. EXCLUSIONS FROM COVERAGE The following matters are expressly excluded from the coverage of this policy, and the Company will not pay loss or damage, costs, attorneys' fees, or expenses that arise by reason of 1. (a) Any law, ordinance, permit, or governmental regulation (including those relating to building and zoning) restricting, regulating, prohibiting, or relating to (i) the occupancy, use, or enjoyment of the Land, (ii) the character, dimensions, or location of any improvement erected on the Land, (iii) the subdivision of land, or (iv) environmental protection; or the effect of any violation of these laws, ordinances, or governmental regulations. This Exclusion 1(a) does not modify or limit the coverage provided under Covered Risk 5. (b) Any governmental police power. This Exclusion 1(b) does not modify or limit the coverage provided under Covered Risk 6. 2. Rights of eminent domain. This Exclusion does not modify or limit the coverage provided under Covered Risk 7 or 8. 3. Defects, liens, encumbrances, adverse claims, or other matters (a) created, suffered, assumed, or agreed to by the Insured Claimant; (b) not Known to the Company, not recorded in the Public Records at Date of Policy, but Known to the Insured Claimant and not disclosed in writing to the Company by the Insured Claimant prior to the date the Insured Claimant became an Insured under this policy, (c) resulting in no loss or damage to the Insured Claimant, (d) attaching or created subsequent to Date of Policy (however, this does not modify or limit the coverage provided under Covered Risk 9 and 10), or (e) resulting in loss or damage that would not have been sustained if the Insured Claimant had paid value for the Title. 4. Any claim, by reason of the operation of federal bankruptcy, state insolvency, or similar creditors' rights laws, that the transaction vesting the Title as shown in Schedule A, is (a) a fraudulent conveyance or fraudulent transfer; or (b) a preferential transfer for any reason not stated in Covered Risk 9 of this policy. 5. Any lien on the Title for real estate taxes or assessments imposed by governmental authority and created or attaching between Date of Policy and the date of recording of the deed or other instrument of transfer in the Public Records that vests Title as shown in Schedule A. CONDITIONS DEFINITION OF TERMS The following terms when used in this policy mean: (a) "Amount of Insurance ": The amount stated in Schedule A, as may be increased or decreased by endorsement to this policy, increased by Section 8(b), or decreased by Sections 10 and 11 of these Conditions. (b) "Date of Policy ": The date designated as "Date of Policy" in Schedule A. (c) "Entity ": A corporation, partnership, trust, limited liability company, or other similar legal entity. (d) "Insured ": The Insured named in Schedule A. (i) the term "Insured" also includes (A) successors to the Title of the Insured by operation of law as distinguished from purchase, including heirs, devisees, survivors, personal representatives, or next of kin; (B) successors to an Insured by dissolution, merger, consolidation, distribution, or reorganization, (C) successors to an Insured by its conversion to another kind of Entity, (D) a grantee of an Insured under a deed delivered without payment of actual valuable consideration conveying the Title (1) if the stock, shares, memberships, or other equity interests of the grantee are wholly -owned by the named Insured. (2) if the grantee wholly owns the named Insured. (3) if the grantee is wholly -owned by an affiliated Entity of the named Insured, provided the affiliated Entity and the named Insured are both wholly -owned by the same person or Entity, or (4) if the grantee is a trustee or beneficiary of a trust created by a written instrument established by the Insured named in Schedule A for estate planning purposes. (ii) with regard to (A), (B), (C), and (D) reserving, however, all rights and defenses as to any successor that the Company would have had against any predecessor Insured. (e) "Insured Claimant ": An Insured claiming loss or damage. (f) "Knowledge" or "Known ": Actual knowledge, not constructive knowledge or notice that may be imputed to an Insured by reason of the Public Records or any other records that impart constructive notice of matters affecting the Title. (g) "Land ": The land described in Schedule A, and affixed improvements that by law constitute real property. The term "Land" does not include any property beyond the lines of the area described in Schedule A, nor any right, title, interest, estate, or easement in abutting streets, roads, avenues, alleys, lanes, ways, or waterways, but this does not modify or limit the extent that a right of access to and from the Land is insured by this policy. (h) "Mortgage ": Mortgage, deed of trust, trust deed, or other security instrument, including one evidenced by electronic means authorized by law. (i) "Public Records ": Records established under state statutes at Date of Policy for the purpose of imparting constructive notice of matters relating to real property to purchasers for value and without Knowledge. With respect to Covered Risk 5(d), "Public Records" shall also include environmental protection liens filed in the records of the clerk of the United States District Court for the district where the Land is located. (j) "Title ": The estate or interest described in Schedule A. (k) "Unmarketable Title ": Title affected by an alleged or apparent matter that would permit a prospective purchaser or lessee of the Title or lender on the Title to be released from the obligation to purchase, lease, or lend if there is a contractual condition requiring the delivery of marketable title. 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 -11064 Page 2 of Policy Serial No.: 0- 9301 - 001840193 stewart y CONDITIONS (Continued) CONTINUATION OF INSURANCE The coverage of this policy shall continue in force as of Date of Policy in favor of an Insured, but only so long as the Insured retains an estate or interest in the Land, or holds an obligation secured by a purchase money Mortgage given by a purchaser from the Insured, or only so long as the Insured shall have liability by reason of warranties in any transfer or conveyance of the Title. This policy shall not continue in force in favor of any purchaser from the Insured of either (i) an estate or interest in the Land, or (ii) an obligation secured by a purchase money Mortgage given to the Insured. NOTICE OF CLAIM TO BE GIVEN BY INSURED CLAIMANT The Insured shall notify the Company promptly in writing (i) in case of any litigation as set forth in Section 5(a) of these Conditions, (ii) in case Knowledge shall come to an Insured hereunder of any claim of title or interest that is adverse to the Title, as insured, and that might cause loss or damage for which the Company may be liable by virtue of this policy, or (iii) if the Title, as insured, is rejected as Unmarketable Title. If the Company is prejudiced by the failure of the Insured Claimant to provide prompt notice, the Company's liability to the Insured Claimant under the policy shall be reduced to the extent of the prejudice. 4. PROOF OF LOSS In the event the Company is unable to determine the amount of loss or damage, the Company may, at its option, require as a condition of payment that the Insured Claimant furnish a signed proof of loss. The proof of loss must describe the defect, lien, encumbrance, or other matter insured against by this policy that constitutes the basis of loss or damage and shall state, to the extent possible, the basis of calculating the amount of the loss or damage. 5. DEFENSE AND PROSECUTION OF ACTIONS (a) Upon written request by the Insured, and subject to the options contained in Section 7 of these Conditions, the Company, at its own cost and without unreasonable delay, shall provide for the defense of an Insured in litigation in which any third party asserts a claim covered by this policy adverse to the Insured. This obligation is limited to only those stated causes of action alleging matters insured against by this policy. The Company shall have the right to select counsel of its choice (subject to the right of the Insured to object for reasonable cause) to represent the Insured as to those stated causes of action. It shall not be liable for and will not pay the fees of any other counsel. The Company will not pay any fees, costs, or expenses incurred by the Insured in the defense of those causes of action that allege matters not insured against by this policy. (b) The Company shall have the right, in addition to the options contained in Section 7 of these Conditions, at its own cost, to institute and prosecute any action or proceeding or to do any other act that in its opinion may be necessary or desirable to establish the Title, as insured, or to prevent or reduce loss or damage to the Insured. The Company may take any appropriate action under the terms of this policy, whether or not it shall be liable to the Insured. The exercise of these rights shall not be an admission of liability or waiver of any provision of this policy. If the Company exercises its rights under this subsection, it must do so diligently. (c) Whenever the Company brings an action or asserts a defense as required or permitted by this policy, the Company may pursue the litigation to a final determination by a court of competent jurisdiction, and it expressly reserves the right, in its sole discretion, to appeal any adverse judgment or order. DUTY OF INSURED CLAIMANT TO COOPERATE (a) In all cases where this policy permits or requires the Company to prosecute or provide for the defense of any action or proceeding and any appeals, the Insured shall secure to the Company the right to so prosecute or provide defense in the action or proceeding, including the right to use, at its option, the name of the Insured for this purpose. Whenever requested by the Company, the Insured, at the Company's expense, shall give the Company all reasonable aid (i) in securing evidence, obtaining witnesses, prosecuting or defending the action or proceeding, or effecting settlement, and (ii) in any other lawful act that in the opinion of the Company may be necessary or desirable to establish the Title or any other matter as insured. If the Company is prejudiced by the failure of the Insured to furnish the required cooperation, the Company's obligations to the Insured under the policy shall terminate, including any liability or obligation to defend, prosecute, or continue any litigation, with regard to the matter or matters requiring such cooperation. (b) The Company may reasonably require the Insured Claimant to submit to examination under oath by any authorized representative of the Company and to produce for examination, inspection, and copying, at such reasonable times and places as may be designated by the authorized representative of the Company, all records, in whatever medium maintained, including books, ledgers, checks, memoranda, correspondence, reports, e- mails, disks, tapes, and videos whether bearing a date before or after Date of Policy, that reasonably pertain to the loss or damage. Further, if requested by any authorized representative of the Company, the Insured Claimant shall grant its permission, in writing, for any authorized representative of the Company to examine, inspect, and copy all of these records in the custody or control of a third party that reasonably pertain to the loss or damage. All information designated as confidential by the Insured Claimant provided to the Company pursuant to this Section shall not be disclosed to others unless, in the reasonable judgment of the Company, it is necessary in the administration of the claim. Failure of the Insured Claimant to submit for examination under oath, produce any reasonably requested information, or grant permission to secure reasonably necessary information from third parties as required in this subsection, unless prohibited by law or governmental regulation, shall terminate any liability of the Company under this policy as to that claim. OPTIONS TO PAY OR OTHERWISE SETTLE CLAIMS; TERMINATION OF LIABILITY In case of a claim under this policy, the Company shall have the following additional options: (a) To Pay or Tender Payment of the Amount of Insurance. To pay or tender payment of the Amount of Insurance under this policy together with any costs, attorneys' fees, and expenses incurred by the Insured Claimant that were authorized by the Company up to the time of payment or tender of payment and that the Company is obligated to pay. Upon the exercise by the Company of this option, all liability and obligations of the Company to the Insured under this policy, other than to make the payment required in this subsection, shall terminate, including any liability or obligation to defend, prosecute, or continue any litigation. (b) To Pay or Otherwise Settle With Parties Other Than the Insured or With the Insured Claimant. (i) to pay or otherwise settle with other parties for or in the name of an Insured Claimant any claim insured against under this policy. In addition, the Company will pay any costs, attorneys' fees, and expenses incurred by the Insured Claimant that were authorized by the Company up to the time of payment and that the Company is obligated to pay; or (ii) to pay or otherwise settle with the Insured Claimant the loss or damage provided for under this policy, together with any costs, attorneys' fees, and expenses incurred by the Insured Claimant that were authorized by the Company up to the time of payment and that the Company is obligated to pay. Upon the exercise by the Company of either of the options provided for in subsections (b)(i) or (ii), the Company's obligations to the Insured under this policy for the claimed loss or damage, other than the payments required to be made, shall terminate, including any liability or obligation to defend, prosecute, or continue any litigation. 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 -11064 Page 3 of Policy Serial No.: 0- 9301 - 001840193 stewart CONDITIONS (Continued) DETERMINATION AND EXTENT OF LIABILITY This policy is a contract of indemnity against actual monetary loss or damage sustained or incurred by the Insured Claimant who has suffered loss or damage by reason of matters insured against by this policy. (a) The extent of liability of the Company for loss or damage under this policy shall not exceed the lesser of (i) the Amount of Insurance; or (ii) the difference between the value of the Title as insured and the value of the Title subject to the risk insured against by this policy. (b) If the Company pursues its rights under Section 5 of these Conditions and is unsuccessful in establishing the Title, as insured, (I) the Amount of Insurance shall be increased by 10 %, and (ii) the Insured Claimant shall have the right to have the loss or damage determined either as of the date the claim was made by the Insured Claimant or as of the date it is settled and paid. (c) In addition to the extent of liability under (a) and (b), the Company will also pay those costs, attorneys' fees, and expenses incurred in accordance with Sections 5 and 7 of these Conditions. 9. LIMITATION OF LIABILITY (a) If the Company establishes the Title, or removes the alleged defect, lien, or encumbrance, or cures the lack of a right of access to or from the Land, or cures the claim of Unmarketable Title, all as insured, in a reasonably diligent manner by any method, including litigation and the completion of any appeals, it shall have fully performed its obligations with respect to that matter and shall not be liable for any loss or damage caused to the Insured. (b) In the event of any litigation, including litigation by the Company or with the Company's consent, the Company shall have no liability for loss or damage until there has been a final determination by a court of competent jurisdiction, and disposition of all appeals, adverse to the Title, as insured. (c) The Company shall not be liable for loss or damage to the Insured for liability voluntarily assumed by the Insured in settling any claim or suit without the prior written consent of the Company. 10. REDUCTION OF INSURANCE; REDUCTION OR TERMINATION OF LIABILITY All payments under this policy, except payments made for costs, attorneys' fees, and expenses, shall reduce the Amount of Insurance by the amount of the payment. 11. LIABILITY NONCUMULATIVE The Amount of Insurance shall be reduced by any amount the Company pays under any policy insuring a Mortgage to which exception is taken in Schedule B or to which the Insured has agreed, assumed, or taken subject, or which is executed by an Insured after Date of Policy and which is a charge or lien on the Title, and the amount so paid shall be deemed a payment to the Insured under this policy. 12. PAYMENT OF LOSS When liability and the extent of loss or damage have been definitely fixed in accordance with these Conditions, the payment shall be made within 30 days. 13. RIGHTS OF RECOVERY UPON PAYMENT OR SETTLEMENT (a) Whenever the Company shall have settled and paid a claim under this policy, it shall be subrogated and entitled to the rights of the Insured Claimant in the Title and all other rights and remedies in respect to the claim that the Insured Claimant has against any person or property, to the extent of the amount of any loss, costs, attorneys' fees, and expenses paid by the Company. If requested by the Company, the Insured Claimant shall execute documents to evidence the transfer to the Company of these rights and remedies. The Insured Claimant shall permit the Company to sue, compromise, or settle in the name of the Insured Claimant and to use the name of the Insured Claimant in any transaction or litigation involving these rights and remedies. If a payment on account of a claim does not fully cover the loss of the Insured Claimant, the Company shall defer the exercise of its right to recover until after the Insured Claimant shall have recovered its loss. (b) The Company's right of subrogation includes the rights of the Insured to indemnities, guaranties, other policies of insurance, or bonds, notwithstanding any terms or conditions contained in those instruments that address subrogation rights. 14. ARBITRATION Either the Company or the Insured may demand that the claim or controversy shall be submitted to arbitration pursuant to the Title Insurance Arbitration Rules of the American Land Title Association ( "Rules "). Except as provided in the Rules, there shall be no joinder or consolidation with claims or controversies of other persons. 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 in connection with its issuance or the breach of a policy provision, or to any other controversy or claim arising out of the transaction giving rise to this policy. 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. All arbitrable matters when the Amount of Insurance is in excess of $2,000,000 shall be arbitrated only when agreed to by both the Company and the Insured. Arbitration pursuant to this policy and under the Rules shall be binding upon the parties. Judgment upon the award rendered by the Arbitrator(s) may be entered in any court of competent jurisdiction. 15. LIABILITY LIMITED TO THIS POLICY; POLICY ENTIRE CONTRACT (a) This policy together with all endorsements, if any, attached to it by the Company is the entire policy and contract between the Insured and the Company. In interpreting any provision of this policy, this policy shall be construed as a whole. (b) Any claim of loss or damage that arises out of the status of the Title or by any action asserting such claim shall be restricted to this policy. (c) Any amendment of or endorsement to this policy must be in writing and authenticated by an authorized person, or expressly incorporated by Schedule A of this policy. (d) Each endorsement to this policy issued at any time is made a part of this policy and is subject to all of its terms and provisions. Except as the endorsement expressly states, it does not (i) modify any of the terms and provisions of the policy, (ii) modify any prior endorsement, (iii) extend the Date of Policy, or (iv) increase the Amount of Insurance. 16. SEVERABILITY In the event any provision of this policy, in whole or in part, is held invalid or unenforceable under applicable law, the policy shall be deemed not to include that provision or such part held to be invalid, but all other provisions shall remain in full force and effect. 17. CHOICE OF LAW; FORUM (a) Choice of Law: The Insured acknowledges the Company has underwritten the risks covered by this policy and determined the premium charged therefor in reliance upon the law affecting interests in real property and applicable to the interpretation, rights, remedies, or enforcement of policies of title insurance of the jurisdiction where the Land is located. Therefore, the court or an arbitrator shall apply the law of the jurisdiction where the Land is located to determine the validity of claims against the Title that are adverse to the Insured and to interpret and enforce the terms of this policy. In neither case shall the court or arbitrator apply its conflicts of law principles to determine the applicable law. (b) Choice of Forum: Any litigation or other proceeding brought by the Insured against the Company must be filed only in a state or federal court within the United States of America or its territories having appropriate jurisdiction. 18. NOTICES, WHERE SENT Any notice of claim and any other notice or statement in writing required to be given to the Company under this policy must be given to the Company at Claims Department at P.O. Box 2029, Houston, TX 77252 -2029. 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. ,.- ,�_.a• -c.+ File No. 01330 -11064 stewart Page 4 of Policy Serial No.: 0- 9301 - 001840193 :4vgi�i.a ^tyc y ALTA OWNER'S POLICY (6/17/06) Name and Address of Title Insurance Company: File No.: 01330 -11064 SCHEDULE A Stewart Title Guaranty Company P.O. Box 2029, Houston, TX 77252 Prepared by: Colorado Regional Production Center Title Officer: Linda Williams Address Reference: 2950 Booth Creek Drive, Vail, CO 81657 (For Company Reference Purposes Only) Amount of Insurance: $2,750,000.00 Date of Policy: September 17, 2012 at 4:30 PM 1. Name of Insured: Matthew Fleeger 2. The estate or interest in the Land that is insured by this policy is: Fee Simple 3. Title is vested in: Matthew Fleeger 4. The Land referred to in this policy is described as follows: Lot 2 Block 3 VAIL VILLAGE, ELEVENTH FILING, according to the recorded plat thereof COUNTY OF EAGLE, STATE OF COLORADO. Policy No.: 0- 9301 - 001840193 Premium: $2,488.00 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. 01330-11064 Page 1 of 1 CO STG ALTA Owner's Policy ch A STCO ��" y --+tte guaranty c:+•rna3ry ALTA OWNER'S POLICY (6/17/06) File No.: 01330-11064 SCHEDULE B EXCEPTIONS FROM COVERAGE Policy No.: 0- 9301 -001840193 This policy does not insure against loss or damage (and the Company will not pay costs, attorneys' fees or expenses) that arise by reason of: 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. 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. 4. Any lien, or right to a lien, for services, labor or material heretofore or hereafter furnished, imposed by law and not shown by the public records. 5. Unpatented mining claims, reservations or exceptions in patents, or in acts authorizing the issuance thereof. 6. Water rights, claims or title to water. 7. All taxes for 2012 and subsequent years, which are a lien not yet payable. 8. 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. 9. 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. 10. Covenants, conditions and restrictions as contained in the Protective Covenants of Vail Village Eleventh Filing recorded July 26, 1971 in Book 221 at Page 140 as Reception No. 116815 as amended in the Amendment to the Protective Covenants of Vail Village Eleventh Filing recorded May 5, 1977 in Book 254 at Page 865 as 151168. 11. Easements, restrictions and rights -of -ways as shown on the plat of Vail Village Eleventh Filing, recorded July 26, 1971 in Book 221 at Page 141 as Reception No. 116816. 12. Deed of Trust executed by Matthew Fleeger to the Public Trustee of Eagle County, dated August 28, 2012, in the principal amount of $2,200,000.00, payable to Alpine Bank and recorded August 29, 2012 as Reception No. 201217320. 13. Deed of Trust executed by Matthew Fleeger to the Public Trustee of Eagle County, dated August 30, 2012, in the principal amount of $1,771,000.00, payable to Alpine Bank and recorded September 17, 2012 as Reception No. 201218682. 14. Deed of Trust executed by Matthew Fleeger to the Public Trustee of Eagle County, dated August 30, 2012, in the principal amount of $300,000.00, payable to Alpine Bank and recorded September 17, 2012 as Reception No. 201218683. 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. c. r.,xatituw File No. 01330 -11064 Page 1 of 1 CO STG ALTA Owner's Policy Sch B SE .- 1009;a,.a" � c.- I-Pany CO, STG Endorsement 110.1 Deletion of Exception ALTA Lender ENDORSEMENT ATTACHED TO AND MADE A PART OF POLICY OF TITLE INSURANCE SERIAL NUMBER 0- 9301 - 001840193 Issued by stewart title guaranty company HEREIN CALLED THE COMPANY File No.: 01330 -11064 Said Policy is hereby amended by deleting paragraphs 1 - 4, inclusive of Schedule B. Charge: $50.00 This endorsement is made a part of the policy and is subject to all of the terms and provisions thereof and of any prior endorsements thereto. Except to the extent expressly stated, it neither modifies any of the terms and provisions of the policy and any prior endorsements, nor does it extend the effective date of the policy and any prior endorsements, nor does it increase the face amount thereof. Signed under seal for the Company, but this endorsement is to be valid only when it bears an authorized countersignature. Countersigned by: A onzed Cbantersignature Stewart Title Agent ID: 060058 97 Main Street, Suite \N201 Edwards, CO 81632 Endorsement Serial No. FF-�stewart title guaranty company Q r � oKroe�r� E -9851 - 429410952 IAM- Senior Chairman of the Board Chairman of the Board President File No. 01330 -11064 Page 1 of 1 STG CLTA Form 110.1 Deletion of Exception ALTA Lender 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 all sharing. 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 this sharing. 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 How do the Stewart Title Companies maintain your account. This may include running the business and managing Yes No customer accounts, such as processing transactions, mailing, and auditing services, include computer, file, and building safeguards, How do the Stewart Title Companies and responding to court orders and legal investigations. collect my personal information? 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 agent or lender involved in your transaction, credit reporting agencies, affiliates transactions and experiences. Affiliates are companies related by common What sharing can I limit? Although federal and state law give you the right to limit sharing (e.g., opt out) in ownership or control. They can be financial and non - financial companies. Our Yes No affiliates may include companies with a Stewart name, financial companies, such as Stewart Title Company For our affiliates' everyday business purposes— information about your No We don't share creditworthiness. For our affiliates to market to you Yes No For non - affiliates to market to you. Non - affiliates are companies not related by No We don't share common ownership or control. They can be financial and non - financial companies. 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. [We do not control their subsequent use of information, and suggest you refer to their privacy notices.] Sharing practices How often do the Stewart Title Companies We must notify you about our sharing practices when you request a transaction. notify me about their practices? How do the Stewart Title Companies To protect your personal information from unauthorized access and use, we use protect my personal information? security measures that comply with federal and state law. These measures include computer, file, and building safeguards, How do the Stewart Title Companies We collect your personal information, for example, when you collect my personal information? • 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 -11064 Page 1 of 1