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HomeMy WebLinkAboutADM130002 APPLICATION AND SUPPORTING DOCS.pdfPARTY WALL AGREEMENT,   DECLARATION OF  COVENANTS, CONDITIONS AND RESERVATIONS,   AND GRFA AND SITE COVERAGE AGREEMENT  FOR  LOT 16, BIGHORN SUBDIVISION, TOWN OF VAIL,  EAGLE COUNTY, COLORADO    THIS PARTY WALL AGREEMENT AND DECLARATION OF COVENANTS, CONDITIONS AND RESERVATIONS  (this "Agreement”') for Lot 16, Bighorn Subdivision, Town of Vail, Colorado is made and  entered into as of ______________, 2013, by MICHELE EVANS AND G. CHRISTOPHER EVANS (“Evans”)  and The Henston Family, LLC (“Henston”) with Evans and Henston being collectively referred to as the  "Declarant").    RECITALS    A. Declarant is the owner of certain improved real property situated in the County of Eagle, State  of Colorado, which is more particularly described as follows: Lot 16, Bighorn Subdivision, Eagle County,  Colorado (the "Property") commonly referred to as 4126 Columbine Drive, Vail, CO  81657.    B. The Property is currently subject to the terms, conditions and provisions of that certain  Townhouse Declaration recorded on July 7, 1980, in book 304 at page 997 (the “Previous Party Wall  Agreement”) and the terms, conditions and provisions of that certain Agreement for Allocation of  Allowable GRFA and Site Coverage recorded on July 9, 2007 at reception No. 200718160 (the “Allocation  Agreement”).    C. Evans owns the improvements identified as Parcel A in the Previous Party Wall Agreement and  Unit 16A in the Allocation Agreement (“Parcel A”).  Henston owns the improvements identified as Parcel  B in the Previous Party Wall Agreement and Unit 16B in the Allocation Agreement (“Parcel B”).  Evans  and Henston have an undivided one half ownership interest in Parcel C as identified in the Previous  Party Wall Agreement (“Parcel C”). With the exception of the Deed of Trust held for the benefit of the  Jerome J. Blumberg Trust A in the amount of $911,000 recorded on December 31, 2008 at Reception No.  200827413 encumbering Parcel B and that portion of Parcel C owned by Henston, there are no other  recorded first mortgages or deeds of trusts recorded that encumber Parcel A, Parcel B or Parcel C.        D. Declarant, pursuant to the terms of the Previous Party Wall Agreement and the Allocation  Agreement, desires to revoke, terminate and discharge as encumbrances on the Property the Previous  Party Wall Agreement and the Allocation Agreement and replace them with this Agreement.     E. Pursuant to a duplex resubdivision plat, Declarant has caused the Property to be divided into  two lots and a two‐unit residential building resulting in a Lot 16A and Lot 16B, with a shared boundary  line and party wall, which are more particularly described below.     F. Declarant desires to define the rights, obligations and limitations of ownership of Lot 16A and  Lot 16B, and thereupon to convey the units thereon as separate building units connected by a party  wall, subject to such rights, obligations and limitations as set forth herein.       ‐ 2 ‐  G. In furtherance of the purposes of this Agreement, Evans shall  convey their undivided one half  ownership interest in that portion of Parcel C that is on Lot 16A to Henston.  Likewise, Henston shall   convey its undivided one half ownership interest in that portion of Parcel C that is on Lot 16B to Evans.   Each such conveyance shall be recorded contemporaneously with this Agreement.      AGREEMENT  NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is  hereby acknowledged, the parties agree as follows:  ARTICLE I – DISCHARGE AND TERMINATION  As of the date of this Agreement, the Previous Party Wall Agreement and the Allocation  Agreement are hereby revoked, terminated and discharged; they are no longer in force or effect and no  longer burden the Property.   ARTICLE II – COVENANTS, CONDITIONS, EASEMENTS AND RESTRICTIONS    Declarant publishes and declares that the following terms, covenants, conditions, easements,  restrictions, use, reservations, limitations and obligations, etc., will be deemed to run with the land  described below, which will be a burden and a benefit to Declarant, its respective grantees, successors  and assigns, and their respective grantees, personal representatives, heirs, successors and assigns, as  well as all other persons acquiring or owning an interest in the real property described below, including  all improvements built thereon.    1. DEFINITIONS. Unless the context expressly provides otherwise, the following terms will have the  following meanings:    A. The "Property" means all of the real estate legally described as Lot 16, Bighorn  Subdivision, Town of Vail, Eagle County, Colorado, subject to all easements and restrictions of record  and those set forth on Exhibit A, attached hereto.      B. “Lot 16A” means Lot 16A as shown on Exhibit A attached hereto.    C. “Lot 16B” means Lot 16B as shown on Exhibit A attached hereto.    D. "Lot", "Building Site", or "Parcel" means Lot 16A and/or Lot 16B as shown on the Final  Plat including all improvements and appurtenances.    E. "Duplex" or "Building" means the two contiguous dwelling units constructed on the  Lots.    F. "Unit" means either one of the two dwellings, including all improvement and  appurtenances comprising the "Duplex".     ‐ 3 ‐  G. “Unit 16A” means the improvements and appurtenances comprising the dwelling  located on Lot 16A.     H. “Unit 16B” means the improvements and appurtenances comprising the dwelling  located on Lot 16B.     I. "Owner" means any person, persons, firm, corporation, partnership or association, or  legal entity with the right to own real property, or any combination thereof, owing any interest in either  of the Parcels and respective Units.    J. "Map", "Plat", or "Plat Map" means the "Final Plat", which is the Re‐subdivision of Lot  16, Bighorn Subdivision, Town of Vail, Eagle County, Colorado, recorded on __________ 2013, as  Reception No. __________, County of Eagle, State of Colorado as shown on Exhibit A attached hereto  and incorporated herein.    K.  "Party Wall" means the common wall placed on a common boundary separating Unit  16A and Unit 16B as shown on the Final Plat, and includes the wall itself, the footings underlying the wall  and the portion of the roof over the wall. "Party Wall Agreement" or "Agreement", means this  "Agreement".    2. DESCRIPTION AND RESERVATION. The following legal descriptions will be used for every  Contract of Sale, Deed, Lease, Mortgage, Trust Deed, Will or other instrument to describe a Unit or the  real property and is sufficient for all purposes to sell, convey, transfer, encumber or otherwise affect the  Lots:    Lot 16A (according to the Final Plat, a Resubdivision of Lot 16, Bighorn Subdivision, Town of Vail,  Eagle County, Colorado, as recorded on ___________ 2013, in Book ____ at Page ____ , as  Reception No. __________County of Eagle, State of Colorado.    Lot 16B, (according to the Final Plat, a Resubdivision of Lot 16, Bighorn Subdivision, Town of Vail,  Eagle County, Colorado, as recorded on __________ 2013, in Book ___ at Page _____ , as  Reception No. ____ County of Eagle, State of Colorado.    3. PROPERTY DIVISION.    A. The Property, pursuant to the Final Plat, has been divided into two Lots and two Units.   Each parcel consists of (i) a fee simple interest in (a) the real property for each such Lot and (b) the  improvements located thereon and (ii) an undivided fifty percent (50%) interest in the Party Wall.     B. Lot 16A and Lot 16B will be subject to all easements noted on the Final Plat and subject  to all easements, restrictions, covenants, conditions, and reservations as stated in this Agreement, and  of record.    C. In the event Lot 16A and Lot 16B are owned by the same persons or entities, the  doctrine of merger will not apply.     ‐ 4 ‐  D. If a single lot Owner is comprised of more than one person or entity, all such parties  shall agree among themselves how to share the rights and obligations of their Ownership in accordance  with this Agreement.  Furthermore, if a single lot Owner is comprised of more than one person or entity  or if any legal entity is an Owner or Co‐Owner, the Owners or entity shall designate one individual to  represent the Lot and shall provide notice to the other Lot Owner within 30 days of taking title to the  other Lot. All acts of the designee will bind the Lot Owner(s).    E.  Owners will give written notice to the other Owner(s) with respect to all issues that  arise under this Agreement that require any joint action, as soon as is reasonable after the issue is  discovered but in no case more than 30 days after such issue is discovered.    F. Each Lot will be considered a separate parcel of real property and will be separately  addressed, taxed, and assessed.    4. ENCROACHMENTS.     A. If any portion of either Unit, including any appurtenances encroaches upon the other  Lot as a result of the construction of either of the Units existing at the time of this Agreement, or if any  encroachment occurs after the recording of this Agreement, as a result of settling or shifting of the  Building, a valid permanent easement is automatically created for the encroachment and for the  maintenance of the encroachment for as long as either building stands. No further action need be taken  by any Owner.    B. In the event any building is partially or totally destroyed as a result of fire or other  casualty or as a result of condemnation or eminent domain proceedings, and then is rebuilt, any  encroachment by any part of the building on the other Lot, due to the rebuilding, or as a result of  settling or shifting of any building will be permitted, as long as any encroachments are no greater than  those which previously existed, a valid permanent easement is automatically created for the  encroachment and for the maintenance of the encroachment for as long as either building stands. No  further action need be taken by any Owner.    5. PARTY WALL.    A. The general rules of law regarding party walls and liability for damage due to negligence,  willful acts or omissions shall apply to the Owners of each Unit. In the event of any conflict between the  general rules of law and this Agreement, this Agreement will control.    B.  The Owners of each Lot will have a perpetual easement for Party Wall purposes only, as  defined in this Agreement, in and to that part of the other Lot on which the Party Wall is located. By way  of example and not limitation: for mutual support, periodic maintenance, repair, and inspection. In the  event of necessary, periodic maintenance, damage to or the destruction of the Party Wall from any  cause except as stated below, the Owners will repair or rebuild the Party Wall. All expenses related to  the Party Wall shall be shared equally between the Owners of the two Lots, except for the cost of  maintenance of the interior finishes on the Party Wall inside of each Unit, which cost shall be paid by the  Owner of the respective unit. Each Owner, will have the right to the full use of the Party Wall as repaired  and rebuilt.     ‐ 5 ‐  C. Notwithstanding anything to the contrary herein, if the negligence, willful act or  omission of any Owner, his/her family, agents or invitees, causes damage to or destruction of the Party  Wall, that Owner will bear the entire cost of repair or reconstruction. Any Owner who by his/her  negligent or willful act causes the Party Wall to be exposed to the elements will bear the full cost of  furnishing the necessary protection against these elements. Under this Sub‐paragraph, the negligent  Party is solely responsible for the cost of repairs and/or reconstruction of damaged interior finishes on  the other Owner's side of the Party Wall.    D. All work performed on the Party Wall will be done by qualified, insured (with customary  insurance) contractors mutually selected by the Owners and licensed (if applicable) within the Town of  Vail for the specific work to be performed.    6. LANDSCAPING, SERVICE FACILITIES AND PARKING.  A. Each Owner will at his/her sole cost and expense, irrigate, maintain, preserve and  replace as needed, the trees, shrubs and grass located within the boundaries of his/her Lot  commensurate with the standards set forth by the Town of Vail and consistent with a well maintained  property in Vail. Upon written approval of the neighboring Lot Owner, which shall not be unreasonably  withheld, the Owners of each Lot may perform any landscaping and general outdoor improvements on  his/her Lot that are materially different from the landscaping and improvements that exist as of the date  of this Agreement, as the respective Owner may deem necessary and proper for the harmonious  improvement of its Lot as long as a common theme between the Lots is maintained.  Neither Owner  shall permit waste on its Lot nor will either Owner fail to maintain its Lot such that such failure will cause  unreasonable harm to the value of the other Owner’s Lot.  If the need for repair or maintenance to an  element of one Owner’s Lot is caused by negligence, willful misconduct, or omission of the other Owner,  upon 15 days written notice to the other Owner, the aggrieved Owner shall have the right to repair the  same, to be indemnified for any harm to its property, or both (if applicable) and the non‐performing or  negligent Owner shall be responsible for all losses, damages, liabilities, costs and expenses, including,  but not limited to, attorneys’ fees and disbursements resulting from such Owner’s negligence, willful  misconduct or omission.    B. Common utility or service connections or lines, common facilities or other equipment  and property located in or on either of the Lots but used in common with the other Lot, if any, will be  owned as tenants in common of equal undivided one‐half interests by the Owners of each Lot. However,  any expense or liability caused through the negligence or willful act of any Owner, his/her family, agents  or invitees, will then be borne solely by that Owner.  All joint or common expenses and liabilities  described in this Agreement will be shared in the proportions set forth in Paragraph 8 below. The Owner  of the Lot on which any commonly shared utilities and facilities, etc., grants to the other Owner, a non‐ exclusive perpetual easement in and to that part of the other Lot containing any commonly shared  utilities and facilities, etc., as is reasonably necessary for purposes of maintenance, repair, and  inspection.    C. No Owner will block or modify any existing view corridors of the other Owner without  the written approval of the other Owner.   At no time will either owner place outdoor equipment or  structures that are not present at the time of the signing of this agreement  (such as trampoline, play  set, hot tub, covered porch, deck, canopies, etc)  in view of the other Owner’s outdoor living spaces  without the written approval of the other owner.       ‐ 6 ‐  D. Either Owner may make non‐material changes or improvements, make repairs or  conduct normal maintenance to the existing landscaping, walkways, outbuildings and structures, as the  Owner desires at his/her sole cost and expense. Any material changes to the foregoing shall require the  written consent of the other Owner, which consent shall not be unreasonably withheld. The Owner  making any changes must, however, comply with all requirements of Town of Vail, Eagle County and any  other applicable legal requirements necessary for such change. Further, any changes or improvements  must be harmonious with and consistent in style, color, and motif with the then existing landscaping and  other conditions of the Lots and the Unit.    E.  Any damage, destruction, or casualty to the existing landscaping, walkways,  outbuildings, and structures, or to the Unit itself, must be repaired or replaced to the condition existing  before the damage, destruction, or casualty, by the Owner suffering the loss, as soon as possible and  within a reasonable time frame, at his/her sole cost and expense. The Owner must comply with all  requirements of Town of Vail and Eagle County. Further, all work must be harmonious with and  consistent in style, color, and motif with the conditions that existed before the damage, destruction, or  casualty.    7. ALTERATION. MAINTENANCE AND REPAIRS.    A. Each owner will, at his/her sole cost and expense, provide exterior maintenance and  exterior repair upon his/her Unit, (including periodic painting and staining), and the other improvements  located on his/her Lot as well as any unimproved portions of the Lot upon which his/her Unit is located,  including, but not limited to, the exterior walls and the roof of the Unit. All maintenance and repair will  be commensurate with the standards set by the Town of Vail and shall be of a quality and frequency  that is consistent with a well maintained home in the Vail area.  The Owner of one Lot will not  unreasonably damage the value of the other Lot by the improper maintenance and repair of his/her Unit  and Lot, and both Owners will make all reasonable efforts to preserve a harmonious common  appearance of the Units and Lots. The Owners may take whatever joint action towards these ends under  any terms to which they agree. If the need for repair or maintenance to an element of one Owner’s Lot  is caused by the negligence, willful misconduct or omission of the other Owner, upon 15 days written  notice to the other Owner, the aggrieved Owner shall have the right to repair the same, to be  indemnified to any harm to its property, or both (if applicable) and the non‐performing or negligent  Owner, as the case may be, shall be responsible for all losses, damages, liabilities, costs and expenses,  including, but not limited to, attorneys’ fees and disbursements resulting from such Owner’s negligence,  willful misconduct or omission.    B. Each Owner will be solely responsible for maintenance and repair of the inside of its  Unit including fixtures and improvements and all utility lines and equipment located within the Unit,  including the walls of the Unit. In performing any maintenance and repair, or in improving or altering  his/her Unit, no Owner will do any act or work which impairs the structural soundness or any way  imposes harm upon either unit or the Party Wall or which interferes with any easement granted or  reserved in this Agreement.  Each unit Owner may make changes to the interior of their unit at any time  providing such changes do not adversely affect the other Unit Owner.  All work done within a unit must  comply with all requirements of Town of Vail, Eagle County and any other applicable legal requirements.     C. Utility or service connections or lines, facilities or other utility equipment and property  located in, an or upon either of the Lots, which are used solely to supply a service or utility to one Unit  will be owned by the Owner of the Unit using the utility or service and all expenses and liabilities for   ‐ 7 ‐  repair and maintenance will be borne solely by the Owner of the using Unit. A perpetual non‐exclusive  easement is granted to each Owner across the property of the other as is reasonably necessary for  access to the utility service, equipment, connections or line for purposes of maintenance, repair and  inspection. Any damage to the other Owner's property will be immediately repaired and paid for by the  Owner causing the damage.    D. No Owner will make or suffer any structural or design change (including a color scheme  change), either permanent or temporary, of any type or nature whatsoever to the exterior of a Unit  without first obtaining the prior written consent from the other Owner, which consent will not be  unreasonably withheld. No Owner will construct any additional building structure of any type or nature  whatsoever upon any part of his/her Lot without first obtaining the prior written consent from the other  Owner, which consent will not be unreasonably withheld.   The Owner making such changes must,  however, comply with all requirements of Town of Vail, Eagle County and any other applicable legal  requirements necessary for such work.    E. In case of damage or destruction of any Unit or any part thereof by any cause  whatsoever, the Owner of the Unit is required and will cause the Unit to be repaired and restored with  due diligence and in a timely manner, to its prior condition, whether enough insurance is available to  cover the restoration or not.  The Unit will be restored to a condition comparable to that prior to the  damage and in a harmonious manner to promote the common theme of both Units and both Lots.     F. With respect to periodic repairs and maintenance, the exterior of each Unit must be  painted, and stained in compatible color schemes and within a reasonable period of time of each other  to ensure consistency of appearance amongst the exterior. The roof, when replaced, must be of the  same or compatible materials and colors for each Unit.    G. Either Owner may improve the exterior of his/her Unit by structural or design change,  provided that permission is obtained from the Town of Vail and Eagle County, if required, and the  written consent of the other Owner is also obtained. The other Owner must give this written consent,  unless the Owner can demonstrate that any changes will have a substantial negative effect on the  Owner’s Lot or Unit, including but not limited to: imposing on or reducing the other Owner's view  corridor or reduction in the value of the other Owner's property.    H. Any work done to either unit, both interior and exterior, shall be done in accordance  with Town of Vail and Eagle County standards and shall be done by a licensed and insured (with  customary insurances) professional, unless the Town of Vail allows such work to be done by a non‐  licensed professional.      8.  ALLOCATION OF EXPENSES. Costs and expenses of all activities which cost is anticipated to be  shared by both Owners, except as caused by negligence of willful act of an Owner, will be allocated in  the following proportions:  Lot16A 50%;  Lot 16B 50%    9. MECHANICS LIENS; INDEMNIFICATION:    A. Except for items required to be shared as common expenses under this Agreement, if  any Owner causes any labor or material to be furnished to his/her Lot or Unit, the other Owner will not   ‐ 8 ‐  under any circumstances be liable for the payment of any expenses incurred or for the value of the work  done or materials furnished. All work and materials supplied will be the sole expense of the Owner  causing the work to be done, and such Owner will be solely responsible to contractors, laborers,  material men and other persons furnishing labor or materials to such Unit and/or Lot for all  improvements. Neither Owner, nor any person dealing through, with or under either Owner is  authorized to charge the lot and/or the Unit of the other Owner with any mechanic's lien or other lien or  encumbrance whatsoever. To the contrary (and notice is hereby given) the right and power to charge  any lien or encumbrance of any kind against one Owner or against one Owner's Lot for work done or  materials furnished to the other Owner's Lot and/or Unit is expressly denied and prohibited.    B. If any mechanics lien or other lien, or claim, or order for the payment of money is filed  against the other Owner's Lot or Unit or against any other improvements on the other Owner's Lot,  (whether or not the lien, claim, or order is valid or enforceable), the Owner whose act or omission  caused the lien, claim or order to be filed, must immediately have the lien, claim or order removed at  his/her own cost and expense, and also cause same to be removed, canceled and discharged of record.  Alternatively, if written notice was given to the other Owner immediately after the lien, claim or  payment order was filed, the Owner may have the lien, etc. bonded off by a surety company acceptable  to the other Owner and to a title insurance company of the other Owner's choosing if relevant, within 7  days after the date of the filing of any lien, claim or payment order. In any event, the Owner agrees to  indemnify and save the other Owner harmless from and against any and all costs, expenses, claims,  losses or damages, including actual attorney's fees and all related costs, resulting from the filing of the  lien, claim or order.    10.  INSURANCE.    A. Each Owner will keep its Lot and Unit and all fixtures therein insured against loss or  damage by fire and extended coverage perils (including vandalism and malicious mischief) for the  maximum full replacement value thereof. In order to determine the value, and upon giving 30 days'  written notice, (but not more frequently than once every two years), any Owner may obtain a written  estimate of the replacement cost of the Units by a licensed or certified appraiser. The cost of the  estimate will be split between the Owners on a 50/50 basis. The Appraiser must be a disinterested and  independent third party who is unrelated in any manner to either Owner. Alternatively, the Owners may  use a written insurance appraisal.  If at any time during the existence of this Agreement an appraisal as  described above has not occurred with the previous two years, each Owner shall insure its Unit and  Improvements for no less than the estimated replacement cost of the structure and improvements.  At  no time shall the minimum insured amount be less than the dollar value of the most recent Eagle  County Appraisal for the Unit and Improvements.     B. Each Owner will provide and keep in force, general public liability and property damage  insurance against claims for bodily injury or death or property damage occurring in, on or upon, his/her  Lot and Unit and all improvements thereon, in a limit not less than the greater of $1,000,000 or the  most recent Eagle County Appraisal for the other Unit and Improvements,  with respect to bodily injury  or death to any number of persons arising out of one or more accidents or disasters or for damage to  property. If higher limits at any time become customary to protect against possible tort liability for  comparable properties, these higher limits shall be carried by each Owner. Each Owner agrees to  indemnify and hold the other Owner harmless from and against any and all costs, expenses, claims,  losses or damages, including reasonable attorney's fees and all related costs incurred by the other  Owner as a consequence of any action of such Owner causing such costs to be incurred.    ‐ 9 ‐    C. On or before December 31st of each calendar year, each Owner shall deliver to the other  Owner certificates evidencing all insurance required to be carried under this paragraph. Each policy  must contain an agreement by the insured Owner that they cannot cancel or modify the policies without  giving the other Owner at least 30 days written notice. Each Owner will have a reasonable right to  inspect and copy all insurance policies of the other Owner that are required by this section.    D. Alternatively, the Owners may mutually agree to jointly acquire a single policy to cover  any one or more of the hazards for which each Owner is required to be separately insured against.    11. DESTRUCTION OF IMPROVEMENTS ON A LOT.    A. If any improvement on either Lot or Unit is destroyed or damaged, the improvement  must be promptly reconstructed. "Repair and reconstruction" of any improvements means restoring the  improvements to substantially the same or better condition that existed prior to the damage. Each Unit  must have the same boundaries as before, unless changes are approved by the Town of Vail and the  other Owner. The cost to repair and/or reconstruct any improvement will be the sole expense of the  Owner of the Lot/Unit, unless the damage or destruction was caused by the other Owner, or his/her  family, agents or invitees in which case the other Owner is responsible for all costs of the repair and/or  reconstruction of the Owner's improvements caused by the other Owner, his/her family, agents or  invitees. If the damage or destruction is caused by the other Owner, the aggrieved Owner shall have the  sole and exclusive right to direct and control the repair and/or reconstruction of his/her improvements,  with the other Owner immediately providing the all of the necessary funds to cover the costs of any  repairs or reconstruction to the damaged Lot or Unit.    B.  If any insurance proceeds are insufficient to repair or reconstruct any damage to a Lot  or the improvements constructed thereon, the Owner (or the other Owner in the case of the negligence  of the other Owner), must provide the funds from other sources in order to cause the repairs and/or  reconstruction to be completed as quickly as is reasonably possible and in a manner that insufficient  funds do not result in an unreasonable repair and reconstruction schedule. The failure to do so is a  breach of this Agreement enforceable by a complaint for damages or specific performance.    C. If all of the Owners of the Lots and the Units and the holders of first mortgages or  beneficiaries of first deeds of trust unanimously agree to not repair or reconstruct the damage or  destruction to the Lots and/or the Units, the Property will be sold and the proceeds will be divided as  agreed to at the time of the Owners' agreement not to rebuild.     12. RIGHT TO LIEN.    A. If after 30 days written notice, (unless the circumstances require immediate action), any  Owner neglects or refuses to perform or pay his/her share of any obligation required under this  Agreement, (the "Defaulting Owner''), the other Owner may, (but is not obligated to), make any  payment on behalf of the Defaulting Owner, or expend the sum of money necessary to perform the  obligation. By way of example and not limitation, the payment of any insurance premiums required or  the undertaking of any work for a necessary repair, restoration or maintenance. The Owner and his  agents are granted an easement in and to that part of the Defaulting Owner's Lot and/or Unit as is  reasonably necessary to make the repair, restoration or maintenance.     ‐ 10 ‐  B. All sums actually paid or expended by an Owner, plus interest at the lesser of eighteen  percent (18%) per annum or the maximum legal rate from the date of each payment or expenditure, are  payable by the defaulting Owner immediately upon the demand of the non‐defaulting Owner.    C. All sums demanded but unpaid by the defaulting Owner and expenses related thereto  are a lien on the Lot and Unit of the defaulting Owner in favor of the non‐defaulting Owner which are  prior to all other liens and encumbrances, except: (i) liens for taxes and special assessments; and, (ii) the  lien of any first mortgage or first deed of trust of record encumbering the Lot. The lien immediately  attaches from the date when the unpaid sum has actually been paid and may be foreclosed in like  manner as a mortgage on real property upon the recording of a notice or claim executed by the Non‐ defaulting Owner setting forth the amount of the unpaid indebtedness, the name of the defaulting  Owner, and a description of the Unit. In any foreclosure the defaulting Owner will be required to pay the  costs and expenses of all proceedings, including actual attorney's fees and all related costs.    D. The sale or transfer of either Lot as the result of a court foreclosure of a mortgage, or a  foreclosure through the public trustee, or any proceeding in lieu of foreclosure, extinguishes the lien for  the payments made by the non‐defaulting Owner prior to the sale or transfer. However, the defaulting  Owner is not relieved of personal liability for the actual amounts paid by the non‐defaulting Owner. The  mortgagee of any Lot who acquires title by way of foreclosure or receiving a deed in lieu thereof, will  not be liable for any past due lien claim and but is liable for future lien claims as of the date it becomes  the Owner or is entitled to become the Owner of any Lot. No sale or transfer will relieve the Lot from  liability for any assessments or the liens for the assessments which arise after the sale or transfer. In the  event of the sale or transfer of a Lot by a defaulting Owner, except transfers to a first mortgagee in  connection with a foreclosure of its lien or a deed in lieu thereof, any purchaser or other transferee of  an interest in the Lot will be jointly and severally liable with the defaulting Owner, seller or transferor for  all unpaid sums, and is subject to the lien.    E.  Upon written request of any Owner, mortgagee, prospective mortgagee, purchaser or  other prospective transferee of a Lot, the non‐defaulting Owner of the Lot not being transferred will  issue a written statement setting forth the amount he/she is owed under this paragraph, if any, with  respect to the Unit being transferred. This statement is binding upon the non‐defaulting Owner in favor  of any person who relies on this statement in good faith.     13.  USE RESTRICTIONS.    A. Each unit is restricted to use as a residential dwelling as the only permitted use,  together with those conditional and accessory uses permitted by the Town of Vail and Eagle County  Zoning Ordinances.    B. No exterior mounted radio, shortwave, television or other type of antenna is allowed,  except for small satellite dishes or as permitted by Federal or State Law. Storage tanks of any kind,  whether elevated or buried, clotheslines, incinerators of any kind, and outside storage of any personal  property are prohibited on either Lot without the prior written approval of both Owners.    C. No animals can be maintained in, on or upon either Unit, except that each Owner may  keep and maintain within his/her Unit domesticated animals provided, that said domesticated animals  do not create an unreasonable nuisance to the other Owner. All animals must be maintained in strict  compliance with all Town of Vail and Eagle County ordinances that may apply. Each Owner indemnifies   ‐ 11 ‐  and holds harmless the other Owner and any family members and invitees from any injury, property  damage, and expenses (including attorney’s fees and court costs) caused by the acts of any Owner's  pet(s).    D. Storing on either Lot of boats, trailers, campers, motor homes, ATVs, snowmobiles,  lawnmowers, snow blowers, lawn tools, or other recreational vehicles for a period greater than 48 hours  is expressly prohibited, unless located within an Owner's garage or written permission is granted by the  other Owner or is not visible to the other unit Owner from their unit and it kept is such a way as to not  diminish the value of the other property. Parking of more than two cars, a motor home or boat outside  of the garage for more than 7 nights within any 30 day period is prohibited. No vehicle is permitted to  be parked in any manner which blocks the access of any Owner to his Lot or Unit.    E. No "time sharing", "interval Ownership" or similar interest, whereby Ownership of a  Unit is shared by Owners on a time basis, is permitted on either Lot without the prior written approval  of all other Owners and all lienors holding a first mortgage or first deed of trust of record on any portion  of Lot 16A or Lot 168.  Any required approval must be filed and recorded with Eagle County and must  comply with all Town of Vail and Eagle County ordinances.      14. ALLOWABLE GRFA AND SITE COVERAGE   A. The Owners acknowledge and agree that potential development rights may exist under  present or future Town of Vail regulations which may permit the expansion or modification of the Units.  All of these development rights may not have been used in the existing construction of the Units to  date.  If any such development rights remain, including but not limited to the rights described herein,  such rights shall be allocated as described in this Section 14.    B. The property Lot 16, which per this agreement is now comprised of Lot 16A and Lot 16B,  is zoned by the Town of Vail, Colorado as Two Family Residential (R).  The Town of Vail limits the  allowable Site Coverage and the allowable Gross Residential Floor Area (“GRFA”) that will be permitted  on Lot 16, but does not allocate between Lot 16A and Lot 16B the Site Coverage or GRFA permitted on  the Property.    For purposes of this agreement, “Site Coverage” and “GRFA” shall have the same  definition as established by the Town of Vail.     C. Since the Town of Vail does not allocate Site Coverage or Gross Residential Floor Area  (“GRFA”) between Lot 16A and Lot 16B, Evans and Henston have agreed upon an allocation between Lot  16A and Lot 16B of the Site Coverage and GRFA permitted on Lot 16.  This allocation shall run with the  land and be binding upon their respective heirs, representatives, successors and assigns.      D. The Site Coverage and GRFA that the Town of Vail determines to be available to the  Property for expansion of the existing improvements or the construction of new improvements, now or  in the future, and whether or not the current formulas or different formulas are used by the Town of  Vail to determine Site Coverage and GRFA, shall be allocated 60% to Lot 16A and 40% to Lot 16B.  In  determining the amount of additional Site Coverage and GRFA available to each Lot, the Site Coverage  and GRFA of the improvements already existing on each such Lot will be determined pursuant to the  formula in effect at the Town of Vail on the date of any proposed expansion. In the event the Town of  Vail, or other governmental or quasi‐governmental entity having jurisdiction over the Property,  eliminates the concepts of Site Coverage or GRFA and replaces one or both of them with other methods  of determining limitations on the number of square feet of improvements allowed to be constructed on  Lot 16 or on the number of square feet of Lot 16 allowed to be covered with improvements or elects to   ‐ 12 ‐  consider Lot 16A and Lot 16 B separately, the intent of this Agreement shall be carried out to the extent  legally possible by applying the same 60%/40% allocation as contemplated by this Agreement.    E. Notwithstanding anything in this Agreement to the contrary, in the event the existing  improvements on Lot 16A are determined to exceed 60% of the allowable GRFA or Site Coverage for Lot  16, or the existing improvements on Lot 16B are determined to exceed 40% of allowable GRFA or Site  Coverage for Lot 16, the existing improvements shall be permitted to remain in place and no breach of  this Agreement shall be considered to have occurred.  In that case, the Lot that exceeds its allocated  percentage shall not be entitled to any additional GRFA or Site Coverage, as the case may be, unless a  variance is granted by the Town or other entity having jurisdiction over Lot 16, and the Lot that is under  its allocated percentage of GRFA or Site Coverage, as the case may be, shall be entitled to utilize all of  the remaining available GRFA or Site Coverage, unless otherwise agreed in writing by all the owners of  Lot 16A and Lot 16B. In the event the improvements on either Lot 16A or Lot 16B are destroyed for any  reason, the owner of the destroyed improvements shall be entitled to reconstruct the number of square  feet that existed on the Lot immediately prior to such destruction.    F. No Owner is permitted to exercise any development rights not already utilized as of the  date of the recording of this Agreement without first obtaining the written consent of the other Owner,  whose consent will not be unreasonably withheld.  The other Owner, before giving or withholding  consent, is entitled to review all plans, blueprints and surveys prepared in connection with the proposed  development.      G. With the exception of existing improvements as described in paragraph 14 (D) above, if  either Owner exceeds his/her GRFA or Site Coverage rights, without the consent of the other Owner,  and because of this the other Owner is not allowed to utilize his/her GRFA or Site Coverage rights, the  excess GRFA or Site Coverage must be removed by the Owner thereof immediately upon the demand of  the other Owner.    H. Any changes to either Lot 16A or 16B, as the case may be, or the improvements thereon  resulting from the allocation of additional GRFA or Site Coverage shall be subject to the terms of this  Agreement.      15. OWNERS' RESPONSIBILITY AND CONTROL.  The Owners of both Lots and Units are mutually  responsible for the administration and management of the joint obligations created by this Agreement.  If the Owners cannot agree when a mutual decision is required, no action will be taken by either Owner  until an agreement is reached. The status quo will remain and no change to the existing condition or  circumstance will be made. Each Owner has a duty to act in good faith with respect to all rights,  responsibilities and decisions arising under this Agreement, and may be liable for his/her failure to  comply with this duty. If either Owner reasonably believes that the other Owner is acting in bad faith in  its failure or refusal to agree or decide on an existing course of action, and that this act materially affects  the value or the ability of the other Owner to use and enjoy its Lot and Unit, the aggrieved Owner may  seek redress by any and all legal or equitable means available to that Owner.    16. NOTICE.  Each Owner will provide its current phone number, mailing address and e‐mail address  to the other Owner in writing. All notices or demands intended to be served upon Owners will be sent  by certified mail, return receipt requested, postage prepaid, addressed to the name of the Owner at the  mailing address provided. Alternatively, notices may be delivered if in writing, personally to the Owners  or by email delivery with printed confirmation of receipt thereof.   ‐ 13 ‐    17. DURATION OF AGREEMENT.   If any provision contained in this Agreement is subject to the laws  or rules sometimes referred to as the Rule Against Perpetuities or the Rule Prohibiting Unreasonable  Restraints on the Alienation of Real Property, the provision will continue and remain in full force and  effect for the period of 21 years following the death of Prince Charles of England and his living  descendants, or until this Agreement is terminated as provided below, whichever first occurs. All other  provisions contained in this Agreement will continue and remain in full force and effect until January 2,  2030, and will automatically renew, without any notice, thereafter for successive periods of 10 years  each; unless at least 1 year prior to January 2, 2030, or at least 1 year prior to the expiration of any 10  year period of extended duration, this Agreement is terminated or modified by recorded instrument,  either terminating or modifying same, signed by all Owners and all lienors holding a mortgage or deed of  trust of record on any portion of Lot 16A or Lot 16B.    18. AMENDMENT OR REVOCATION.  This Agreement may be amended or revoked only upon  unanimous written approval in recordable form of all Owners and all lienors holding a mortgage or deed  of trust of record on any portion of Lot 16A or Lot 16B.    19. EFFECT OF PROVISIONS OF AGREEMENT.  Every provision, declaration, covenant, easement,  undertaking and promise to comply with this Agreement, and any exception, reservation or grant of  title, estate, right or interest to effectuate any provision of this Agreement: (i) shall be appurtenant to  Lot 16A and Lot 16B, (ii) is deemed incorporated in each deed or other instrument granting, devising or  conveying any right, title or interest in any portion of Lot 16A and Lot 16B, whether or not set forth or  referred to in any deed or other instrument; (Iii) is by virtue of the acceptance of any right, title or  interest in any portion of Lot 16A and Lot 16B by any Transferee/Owner, deemed accepted, ratified,  adopted and declared as a personal covenant of an Transferee/Owner and, as a personal covenant is  binding on, and for the benefit of each Transferee/Owner and his/her heirs, personal representatives,  successors and assigns; (iv) and is deemed a real covenant by the Transferees/Owners, for themselves,  their heirs, personal representatives, successors and assigns, and also an equitable servitude, running, in  each case, as a burden with and upon the title to each and every portion of Lot 16A and Lot 16B.    20. ENFORCEMENT AND REMEDIES.    A. Each provision of this Agreement will be enforceable by any Owner, by a proceeding in  equity, a proceeding for a prohibitive or mandatory injunction, or by a suit or action to recover damages.  If court proceedings are instituted in connection with the rights of enforcement and remedies provided  in this Agreement, the prevailing party will be entitled to recover its costs and expenses in connection  therewith, including reasonable attorney fees and all associated costs.    B. Each Owner agrees that any and all actions in equity or at law which are instituted to  enforce any provision hereunder will be brought in and only in the District Court of Eagle County, State  of Colorado.    C. Failure to enforce any provision of this Agreement will not operate as a waiver of any  provision, or the right to enforce that or any other provision of this Agreement.    21. EXERCISE OF RIGHTS.   Any exercise of any right granted hereunder by one Owner with respect  to the other Owner's Unit including but not limited to the use of any easement granted will be exercised   ‐ 14 ‐  in a manner which will not unreasonably hinder, impede or impose upon the other Owner's use of  his/her Unit.    22. SUCCESSORS AND ASSIGNS.  Except as otherwise provided herein, this Agreement will be  binding upon and will inure to the benefit of each Owner and the heirs, personal representatives,  successors and assigns of each.    23. SEVERABILITY.  If any court determines that any of the provisions in this Agreement are  excessive in duration or scope or is unreasonable or unenforceable, it is the intention of the parties that  such restriction may be modified or amended by the court to render it enforceable to the maximum  extent permitted by the laws of that state.  Notwithstanding the foregoing, Invalidity or unenforceability  of any provisions of this Agreement in whole or in part will not affect the validity or enforceable part of  any other provisions of this Agreement.    24. CAPTIONS.  The captions and headings in this instrument are for convenience only and will not  be considered in construing any provisions of this Agreement.    25. CONSTRUCTION.  When necessary for proper construction, the masculine of any word used in  this Agreement will include the feminine or neuter gender and the singular the plural and vice versa.    26. MUTUAL BARGAINING.   Evans and Henston have both had adequate opportunity to read,  review, and to consider with their own retained counsel, the effect of the language of this Agreement,  has agreed to its terms, and has participated in the drafting of all provisions of this Agreement.  Evans  and Henston both agree that in any interpretation or construction of this Agreement, each of them will  be deemed to have equally participated in the negotiation and drafting of the Agreement and each of its  parts, and the rule of contra proferentem, or construction against the drafter, shall not apply to either  party.    27. RECITALS.   The recitals set forth above are hereby incorporated into the terms of this  Agreement.     [Signatures on the following page]        ‐ 15 ‐  IN WITNESS WHEREOF, the Declarant hereto have executed this Agreement on the date first  above written.    DECLARANT (LOT 16A OWNER)        _______________________        Michele Evans        _______________________  G. Christopher Evans        STATE OF ______________  )  ) ss.  COUNTY OF ______________ )    The foregoing instrument was acknowledged before me this ___ day of _____________, 2012,  by Michele Evans.    WITNESS MY HAND AND OFFICIAL SEAL.    My Commission expires: _________________    [ S E A L ]                          Notary Public       STATE OF ______________  )  ) ss.  COUNTY OF ______________ )    The foregoing instrument was acknowledged before me this ___ day of _____________, 2012,  by G. Christopher Evans.    WITNESS MY HAND AND OFFICIAL SEAL.    My Commission expires: _________________    [ S E A L ]                          Notary Public       DECLARANT (LOT 16B OWNER)        _______________________                                  [Name 1]        _______________________        [Name 2]        STATE OF ______________  )  ) ss.  COUNTY OF ______________ )    The foregoing instrument was acknowledged before me this ___ day of _____________, 2012,  by __________________.    WITNESS MY HAND AND OFFICIAL SEAL.    My Commission expires: _________________    [ S E A L ]                          Notary Public       STATE OF ______________  )  ) ss.  COUNTY OF ______________ )    The foregoing instrument was acknowledged before me this ___ day of _____________, 2012,  by __________________.    WITNESS MY HAND AND OFFICIAL SEAL.    My Commission expires: _________________    [ S E A L ]                          Notary Public            CONSENT OF LIENHOLDER  The Jerome J. Blumberg Trust A, as beneficiary of the Deed of Trust encumbering the Parcel B and the  undivided ownership interests of the Henston in Parcel C, recorded in the real property records of Eagle  County, Colorado, on December 31, 2008 at Reception No. 200827413, hereby consents to this Party  Wall Agreement, Declaration of Covenants, Conditions and Reservations, and GRFA and Site Coverage  Agreement for Lot 16 Bighorn Subdivision, Town of Vail, Eagle County Colorado; releases its interest in  Parcel C and agrees that the Deed of Trust and the lien created thereby are hereafter subject and  subordinate to this Agreement  JEROME J. BLUMBERG TRUST A        _______________________                                  James G. Gallagher, Trustee    STATE OF ______________  )  ) ss.  COUNTY OF ______________ )    The foregoing instrument was acknowledged before me this ___ day of _____________, 2012,  by __________________.    WITNESS MY HAND AND OFFICIAL SEAL.    My Commission expires: _________________    [ S E A L ]                          Notary Public       STATE OF ______________  )  ) ss.  COUNTY OF ______________ )    The foregoing instrument was acknowledged before me this ___ day of _____________, 2012,  by __________________.    WITNESS MY HAND AND OFFICIAL SEAL.    My Commission expires: _________________    [ S E A L ]                          Notary Public         EXHIBIT "A"  TO PARTYWALL AGREEMENT AND DECLARATION OF COVENANTS,  CONDITIONS AND RESERVATIONS FOR  Lot 16, BIGHORN SUBDIVISION, TOWN OF VAIL,  EAGLE COUNTY, COLORADO      [See Attached Duplex Plat]          CUSTOMER DISTRIBUTION Date:Our Order Number: Property Address: If you have any inquiries or require further assistance, please contact one of the numbers below: 11-08-2012 V50034572-5 4126 COLUMBINE DRIVE UNIT A LOT 16 BIGHORN SUB VAIL, CO 81657 For Closing Assistance: Erika Frahm 0090 BENCHMARK RD #205 PO BOX 3480 AVON, CO 81620 Phone: 970-748-4799 Fax: 877-408-7367 EMail: efrahm@ltgc.com For Title Assistance: Vail Title Dept. 610 WEST LIONSHEAD CIRCLE #200 VAIL, CO 81657 Phone: 970-476-2251 Fax: 970-476-4534 EMail: eaglecountyrequests@ltgc.com Closer's Assistant: Karen Spaid Phone: 970-748-4787 Fax: 877-375-5033 EMail: kspaid@ltgc.com SLIFER, SMITH & FRAMPTON - LIONSHEAD *TMX* 531 E LIONSHEAD CIR #11 VAIL, CO 81657 Attn: LARRY PETERSON Phone: 970-479-0245 Fax: 970-479-5911 EMail: lpeterson@slifer.net Sent Via EMail MICHELE EVANS AND G. CHRISTOPHER EVANS P.O. BOX 8297 AVON, CO 81620 Phone: 970-376-1009 Fax: 970-845-0465 EMail: mevans@evanschaffee.com;cevans@evanschaffee Sent Via EMail SLIFER SMITH & FRAMPTON-AVON *TMX* 0090 BENCHMARK RD #105 AVON, CO 81620 Attn: JAN JOHNSON Phone: 970-845-2030 Fax: 866-562-0913 EMail: jjohnson@slifer.net Sent Via EMail JUDY BAKER AND BRUCE BAKER 19100 NW FREEWAY HOUSTON TX 77065 Phone: 281-507-5701 EMail: bbaker@bakernissan.com Linked Commitment Delivery LAND TITLE GUARANTEE COMPANY 0090 BENCHMARK RD #205 PO BOX 3480 AVON, CO 81620 Attn: Erika Frahm Phone: 970-748-4799 Fax: 877-408-7367 EMail: efrahm@ltgc.com EAGLE VALLEY SURVEYING PO BOX 1230 EDWARDS, CO 81632 Attn: MIKE POST Phone: 970-949-1406 Fax: 970-845-9504 EMail: mikepost@evsurvey.com Linked Commitment Delivery Land Title Guarantee Company 11.09.12 Date: Our Order Number: Buyer/Borrower: Seller/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 If Land Title Guarantee Company will be closing this transaction, above fees will be collected at that time. TOTAL Form CONTACT 06/04 11-08-2012 V50034572-5 MICHELE EVANS AND G. CHRISTOPHER EVANS JUDY BAKER AND BRUCE BAKER 4126 COLUMBINE DRIVE UNIT A LOT 16 BIGHORN SUB 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: Erika Frahm ALTA Owners Policy 06-17-06 Deletion of Exceptions 1-3 (Owner) Deletion of General Exception 4 (Owner) Tax Report $3,138.00 $60.00 $15.00 $25.00 $3,238.00 Land Title Guarantee Company ****************************************************************** Note: Once an original commitment has been issued, any subsequent modifications will be emphasized by underlining. ****************************************************************** 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: V50034572-5 A L T A C O M M I T M E N T 4126 COLUMBINE DRIVE UNIT A LOT 16 BIGHORN SUB VAIL, CO 81657 October 24, 2012 at 5:00 P.M. "ALTA" Owner's Policy 06-17-06 Proposed Insured: MICHELE EVANS AND G. CHRISTOPHER EVANS $1,435,410.00 A FEE SIMPLE JUDY BAKER AND BRUCE BAKER SEE ATTACHED PAGE(S) FOR LEGAL DESCRIPTION First American Title Insurance Company LEGAL DESCRIPTION Our Order No:V50034572-5 PARCEL A: A PART OF LOT 16, BIGHORN SUBDIVISION, A SUBDIVISION RECORDED IN THE OFFICE OF THE CLERK AND RECORDER, EAGLE COUNTY, COLORADO, SAID PART OF LOT 16 BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: BEGINNING AT A POINT WHENCE THE NORTHWEST CORNER OF SAID LOT 16 BEARS NORTH 00 DEGREES 57 MINUTES 41 SECONDS EAST 111.30 FEET DISTANT, THENCE SOUTH 27 DEGREES 02 MINUTES 00 SECONDS WEST 65.55 FEET, THENCE NORTH 62 DEGREES 58 MINUTES 00 SECONDS WEST 50.00 FEET, THENCE NORTH 27 DEGREES 02 MINUTES 00 SECONDS EAST 44.50 FEET, THENCE SOUTH 62 DEGREES 58 MINUTES 00 SECONDS EAST 17.06 FEET, THENCE NORTH 27 DEGREES 02 MINUTES 00 SECONDS EAST 33.95 FEET, THENCE SOUTH 62 DEGREES 58 MINUTES 00 SECONDS EAST 26.55 FEET, THENCE SOUTH 27 DEGREES 02 MINUTES 00 SECONDS WEST 12.90 FEET, THENCE SOUTH 62 DEGREES 58 MINUTES 00 SECONDS EAST 6.39 FEET TO THE POINT OF BEGINNING. TOGETHER WITH AN UNDIVIDED 1/2 INTEREST IN AND TO PARCEL C DESCRIBED AS FOLLOWS: PARCEL C: ALL OF LOT 16, BIGHORN SUBDIVISION, A SUBDIVISION RECORDED IN THE OFFICE OF THE CLERK AND RECORDER, EAGLE COUNTY, COLORADO, WITH THE EXCEPTION OF PARCEL A DESCRIBED ABOVE AND PARCEL B DESCRIBED BELOW. PARCEL B: A PART OF LOT 16, BIGHORN SUBDIVISION, A SUBDIVISION RECORDED IN THE OFFICE OF THE CLERK AND RECORDER, EAGLE COUNTY, COLORADO, SAID PART OF LOT 16, BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: BEGINNING AT A POINT WHENCE THE NORTHWEST CORNER OF SAID LOT 16, BEARS NORTH 00 DEGREES 57 MINUTES 47 SECONDS EAST 111.30 FEET, THENCE SOUTH 62 DEGREES 58 MINUTES 00 SECONDS EAST 23.25 FEET, THENCE SOUTH 27 DEGREES 02 MINUTES 00 SECONDS WEST 28.95 FEET, THENCE SOUTH 62 DEGREES 58 MINUTES 00 SECONDS EAST 10.10 FEET, THENCE SOUTH 27 DEGREES 02 MINUTES 00 SECONDS WEST 38.90 FEET, THENCE NORTH 62 DEGREES 58 MINUTES 00 SECONDS WEST 33.35 FEET, THENCE NORTH 27 DEGREES 02 MINUTES 00 SECONDS EAST 67.85 FEET TO THE POINT OF BEGINNING. 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 V50034572-5 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: EVIDENCE SATISFACTORY TO THE COMPANY THAT THE TERMS, CONDITIONS AND PROVISIONS OF THE TOWN OF VAIL TRANSFER TAX HAVE BEEN SATISFIED. WARRANTY DEED FROM JUDY BAKER AND BRUCE BAKER TO MICHELE EVANS AND G. CHRISTOPHER EVANS CONVEYING SUBJECT PROPERTY. THE FOLLOWING DELETIONS/MODIFICATIONS ARE FOR THE OWNER'S POLICY. NOTE: ITEMS 1-3 OF THE GENERAL EXCEPTIONS ARE HEREBY DELETED. UPON THE APPROVAL OF THE COMPANY AND THE RECEIPT OF A NOTARIZED FINAL LIEN AFFIDAVIT, ITEM NO. 4 OF THE GENERAL EXCEPTIONS ON THE OWNER'S POLICY WILL BE AMENDED AS FOLLOWS: ITEM NO. 4 OF THE GENERAL EXCEPTIONS IS DELETED EXCEPT AS TO ANY LIENS OR FUTURE LIENS RESULTING FROM WORK OR MATERIAL FURNISHED AT THE REQUEST OF MICHELE EVANS AND G. CHRISTOPHER EVANS. FIRST AMERICAN TITLE INSURANCE COMPANY SHALL HAVE NO LIABILITY FOR ANY LIENS ARISING FROM WORK OR MATERIAL FURNISHED AT THE REQUEST OF MICHELE EVANS AND G. CHRISTOPHER EVANS. NOTE: ITEM 5 OF THE GENERAL EXCEPTIONS WILL BE DELETED IF LAND TITLE GUARANTEE COMPANY CONDUCTS THE CLOSING OF THE CONTEMPLATED TRANSACTION(S) AND RECORDS THE DOCUMENTS IN CONNECTION THEREWITH. NOTE: UPON PROOF OF PAYMENT OF ALL TAXES, ITEM 6 WILL BE AMENDED TO READ: TAXES AND ASSESSMENTS FOR THE YEAR 2012 AND SUBSEQUENT YEARS. (Requirements)Our Order No. Continued: A L T A C O M M I T M E N T Schedule B - Section 1 V50034572-5 NOTE: ITEM 7 OF THE GENERAL EXCEPTIONS IS HEREBY DELETED. 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 V50034572-5 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 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. RIGHT OF WAY FOR DITCHES OR CANALS CONSTRUCTED BY THE AUTHORITY OF THE UNITED STATES AS RESERVED IN UNITED STATES PATENT RECORDED NOVEMBER 22, 1939, IN BOOK 123 AT PAGE 625. RESTRICTIVE COVENANTS WHICH DO NOT CONTAIN A FORFEITURE OR REVERTER CLAUSE, BUT OMITTING ANY COVENANTS OR RESTRICTIONS, IF ANY, BASED UPON RACE, COLOR, RELIGION, SEX, SEXUAL ORIENTATION, FAMILIAL STATUS, MARITAL STATUS, DISABILITY, HANDICAP, NATIONAL ORIGIN, ANCESTRY, OR SOURCE OF INCOME, AS SET FORTH IN APPLICABLE STATE OR FEDERAL LAWS, EXCEPT TO THE EXTENT THAT SAID COVENANT OR RESTRICTION IS PERMITTED BY APPLICABLE LAW, AS CONTAINED IN INSTRUMENT RECORDED DECEMBER 20, 1962, IN BOOK 174 AT PAGE 403 AND AMENDED IN INSTRUMENT RECORDED APRIL 3, 1963 IN BOOK 175 AT PAGE 33 AND AMENDED IN INSTRUMENT RECORDED MAY 3, 1963 IN BOOK 175 AT PAGE 81. TEN PERCENT NON-PARTICIPATING ROYALTY IN AND TO PROCEEDS DERIVED FROM THE SALE OF ANY MINERALS OF WHATSOEVER KIND AND NATURE, PRODUCED AND MINED FROM THE SAID PREMISES AS RESERVED TO GUST KIAHTIPES AND EVA J. KIAHTIPES BY INSTRUMENT RECORDED NOVEMBER 2, 1962 IN BOOK 166 AT PAGE 407, AND ANY AND ALL ASSIGNMENTS THEREOF OR INTERESTS THEREIN. 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 V50034572-5 11. 12. 13. 14. EASEMENTS, CONDITIONS, COVENANTS, RESTRICTIONS, RESERVATIONS AND NOTES ON THE RECORDED PLAT OF BIGHORN SUBDIVISION RECORDED DECEMBER 3, 1962 RECEPTION NO. 96766. TERMS, CONDITIONS AND PROVISIONS OF TOWNHOUSE DECLARATION FOR LOT 16, BIGHORN SUBDIVISION 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 JULY 07, 1980 IN BOOK 304 AT PAGE 997. TERMS, CONDITIONS AND PROVISIONS OF AGREEMENT RECORDED JULY 09, 2007 AT RECEPTION NO. 200718160. THE EFFECT OF DECKS, BUILDING OVERHANG, FLAGSTONE PATIO AND ASPHALT DRIVEWAY FOR LOT 15 WITHIN PARCEL C AS SHOWN ON IMPROVEMENT LOCATION CERTIFICATE ISSUED BY EAGLE VALLEY SURVEYING, INC. CERTIFIED NOVEMBER 01, 2012, JOB NO. 169. 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 settlement 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 When recorded return to: Michele Evans and G. Christopher Evans P.O. Box 8297 Avon, CO 81620 (970) 376-1009 mevans@evanschaffee.com COLORADO QUIT CLAIM DEED THIS DEED, dated _____________, 2013, between MICHELE EVANS AND G. CHRISTOPHER EVANS (“Grantor”), whose legal address is 4126A Columbine Dr., Vail, CO 81657 and THE HENSTON FAMILY, LLC, a Colorado limited liability company (“Grantee”); WITNESSETH, THAT, Grantor, for and in consideration of the sum of Ten Dollars ($10.00), and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, has remised, released, sold and QUITCLAIMED, and by these presents does remise, release, sell and QUITCLAIM unto Grantee and Grantee’s heirs, successors, and assigns forever, all the right, title, interest, claim and demand which Grantor has in and to all of the real property in the County of Eagle, State of Colorado more particularly described as: Lot 16B, Bighorn Subdivision, a Resubdivision of Lot 16, a subdivision in the Town of Vail, County of Eagle, Colorado as such Lot is shown on the Duplex Plat, Bighorn Subdividsion, a Resubdivision of Lot 16 recorded in the real property records of Eagle County on _____________ at Reception Number ___________________ TO HAVE AND TO HOLD the same, together with all and singular the appurtenances and privileges thereunto belonging or in anywise thereunto appertaining, and all the estate, right, title, interest and claim whatsoever, of Grantor, either in law or equity, to the only proper use, benefit and behoof Grantee and Grantee’s heirs, successors, and assigns forever. IN WITNESS WHEREOF, Grantor has caused this deed to be executed on the date set forth above. Dated: , 20___ By: Michele Evans Dated: , 20___ By: G. Christopher Evans STATE OF ) ) ss. COUNTY OF ) The foregoing instrument was acknowledged before me this ____ day of , 20__, by __________________________________________. WITNESS my hand and official seal. Notary Public My Commission Expires: [ S E A L ]           STATE OF ) ) ss. COUNTY OF ) The foregoing instrument was acknowledged before me this ____ day of , 20__, by __________________________________________. WITNESS my hand and official seal. Notary Public My Commission Expires: [ S E A L ]     When recorded return to: HENSTON FAMILY, LLC C/O LOUIS HENSTON 69 WINGED FOOT DR LIVINGSTON, NJ 07039 COLORADO QUIT CLAIM DEED THIS DEED, dated _____________, 2013, between THE HENSTON FAMILY, LLC, a Colorado limited liability company (“Grantor”) and MICHELE EVANS AND G. CHRISTOPHER EVANS, whose legal address is 4126A Columbine Dr., Vail, CO 81657 (“Grantee”); WITNESSETH, THAT, Grantor, for and in consideration of the sum of Ten Dollars ($10.00), and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, has remised, released, sold and QUITCLAIMED, and by these presents does remise, release, sell and QUITCLAIM unto Grantee and Grantee’s heirs, successors, and assigns forever, all the right, title, interest, claim and demand which Grantor has in and to all of the real property in the County of Eagle, State of Colorado more particularly described as: Lot 16A, Bighorn Subdivision, a Resubdivision of Lot 16, a subdivision in the Town of Vail, County of Eagle, Colorado as such Lot is shown on the Duplex Plat, Bighorn Subdividsion, a Resubdivision of Lot 16 recorded in the real property records of Eagle County on _____________ at Reception Number ___________________ TO HAVE AND TO HOLD the same, together with all and singular the appurtenances and privileges thereunto belonging or in anywise thereunto appertaining, and all the estate, right, title, interest and claim whatsoever, of Grantor, either in law or equity, to the only proper use, benefit and behoof Grantee and Grantee’s heirs, successors, and assigns forever. IN WITNESS WHEREOF, Grantor has caused this deed to be executed on the date set forth above. Dated: , 20___ By: Its: STATE OF ) ) ss. COUNTY OF ) The foregoing instrument was acknowledged before me this ____ day of , 20__, by __________________________________________ as _________________________ of _______________________________________. WITNESS my hand and official seal. Notary Public My Commission Expires: [ S E A L ]