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Home My WebLink AboutDRB140022 Title Comitment10 W. Beaver Creek Blvd #221 Box 980 Avon, CO 81620-0980 Phone: (970) 949-9497 Fax: (970) 949-9486 www.titlecorockies.com COMMITMENT TRANSMITTAL Commitment Ordered By: Dominic F. Mauriello Mauriello Planning Group, LLC 2204 Eagle Ranch Road, PO Box 4777 Eagle, CO 81631-4777 Phone: (970) 376-3318 Fax: email: dominic@mpgvail.com Inquiries should be directed to: Michael J. Brudwick Title Company of the Rockies 10 W. Beaver Creek Blvd #221 Box 980 Avon, CO 81620-0980 Phone: (970) 949-9497 Fax: (970) 949-9486 email: mbrudwick@titlecorockies.com Commitment Number:0816625-C Reference: Vail Mtn School Buyer's Name(s):None - Informational Report Only Seller's Name(s):Vail Mountain School, a Colorado non-profit corporation Property:3000 Booth Falls Road, Vail, CO 81657 Lot 1, Vail Mountain School Subdivision, Eagle County, Colorado COPIES / MAILING LIST Dominic F. Mauriello Mauriello Planning Group, LLC 2204 Eagle Ranch Road, PO Box 4777 Eagle, CO 81631-4777 Phone: (970) 376-3318 Fax: email: dominic@mpgvail.com Service Beyond Expectation in Colorado for: Eagle, Garfield, Grand, Pitkin and Summit Counties. (Limited Coverage: Jackson, Lake, Park and Routt Counties) Locations In: Avon/Beaver Creek, Basalt, Breckenridge, Granby, and Winter Park. (Closing Services available in Aspen and Glenwood Springs). 10 W. Beaver Creek Blvd #221 Box 980 Avon, CO 81620-0980 Phone: (970) 949-9497 Fax: (970) 949-9486 www.titlecorockies.com Commitment Ordered By: Dominic F. Mauriello Mauriello Planning Group, LLC 2204 Eagle Ranch Road, PO Box 4777 Eagle, CO 81631-4777 Phone: (970) 376-3318 Fax: email: dominic@mpgvail.com Inquiries should be directed to: Michael J. Brudwick Title Company of the Rockies 10 W. Beaver Creek Blvd #221 Box 980 Avon, CO 81620-0980 Phone: (970) 949-9497 Fax: (970) 949-9486 email: mbrudwick@titlecorockies.com Commitment Number:0816625-C Reference: Vail Mtn School Buyer's Name(s):None - Informational Report Only Seller's Name(s):Vail Mountain School, a Colorado non-profit corporation Property:3000 Booth Falls Road, Vail, CO 81657 Lot 1, Vail Mountain School Subdivision, Eagle County, Colorado TITLE CHARGES These charges are based on issuance of the policy or policies described in the attached Commitment for Title Insurance, and includes premiums for the proposed coverage amount(s) and endorsement(s) referred to therein, and may also include additional work and/or third party charges related thereto. If applicable, the designation of “Buyer” and “Seller” shown below may be based on traditional settlement practices in Eagle County, Colorado, and/or certain terms of any contract, or other information provided with the Application for Title Insurance. Owner’s Policy Premium: Loan Policy Premium: Additional Lender Charge(s): Additional Other Charge(s): Tax Certificate: Total Endorsement Charge(s): TBD Charge(s): TOTAL CHARGES: $125.00 $125.00 Service Beyond Expectation in Colorado for: Eagle, Garfield, Grand, Pitkin and Summit Counties. (Limited Coverage: Jackson, Lake, Park and Routt Counties) Locations In: Avon/Beaver Creek, Basalt, Breckenridge, Granby, and Winter Park. (Closing Services available in Aspen and Glenwood Springs). CM-2 (ALTA Commitment for Title Insurance (6-17-06)(WLTIC Edition (9/26/07) Westcor Land 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 named in Schedule A , as owner or mortgagee of the estate or interest in the land described or referred to in Schedule A, upon payment of the premiums and charges and compliance with the Requirements; all subject to the provisions of Schedules A and 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. IN WITNESS WHEREOF, WESTCOR LAND TITLE INSURANCE COMPANY has caused its corporate name and seal to be hereunto affixed and by these presents to be signed in facsimile under authority of its by-laws, effective as of the date of Commitment shown in Schedule A. Issued By: The Title Company of the Rockies 10 W Beaver Creek Blvd., Suite 221, PO Box 980 Avon, CO 81620-0980 Phone: (970) 949-9497 ALTA Commitment Form (6-17-06) COMMITMENT FOR TITLE INSURANCE ISSUED BY WESTCOR LAND TITLE INSURANCE COMPANY 201 N. New York Avenue, Suite 200 Winter Park, Florida 32789 Telephone: (407) 629-5842 WESTCOR TITLE INSURANCE COMPANY HOME OFFICE Alta Commitment - 2006 Schedule A C O M M I T M E N T f o r T I T L E I N S U R A N C E issued by as agent for WESTCOR LAND TITLE INSURANCE COMPANY Reference: Vail Mtn School Commitment Number: 0816625-C Commitment Ordered By: Dominic F. Mauriello Mauriello Planning Group, LLC 2204 Eagle Ranch Road, PO Box 4777 Eagle, CO 81631-4777 Phone: (970) 376-3318 Fax: email: dominic@mpgvail.com Inquiries should be directed to: Michael J. Brudwick Title Company of the Rockies 10 W. Beaver Creek Blvd #221 Box 980 Avon, CO 81620-0980 Phone: (970) 949-9497 Fax: (970) 949-9486 email: mbrudwick@titlecorockies.com Reference Property Address: 3000 Booth Falls Road, Vail, CO 81657 SCHEDULE A 1. Effective Date: December 11, 2013, 7:00 am Issue Date: December 24, 2013 2. Policy (or Policies) to be issued: ALTA Owner's Policy (6-17-06) Policy Amount: Amount to be Determined Premium: Amount to be Determined Proposed Insured: NONE - INFORMATIONAL REPORT ONLY 3. The estate or interest in the Land described or referred to in this Commitment is: Fee Simple and Title to said estate or interest is at the Effective Date vested in: Vail Mountain School, a Colorado non-profit corporation 4. The Land referred to in this Commitment is located in the County of Eagle, State of Colorado, and is described as follows: Lot 1, VAIL MOUNTAIN SCHOOL SUBDIVISION, according to the Plat thereof recorded April 15, 2003 at Reception No. 829950, County of Eagle, State of Colorado. Commitment No. 0816625-C Schedule B-I Requirements Alta Commitment - 2006 Schedule B-I Requirements COMMITMENT FOR TITLE INSURANCE SCHEDULE B - SECTION I REQUIREMENTS THE FOLLOWING ARE THE REQUIREMENTS TO BE COMPLIED WITH: Item (a) Payment to or for the account of the grantors or mortgagors of the full consideration for the estate or interest to be insured. Item (b) Proper instrument(s) creating the estate or interest to be insured must be executed and duly filed for record, to wit: NONE - INFORMATIONAL REPORT ONLY - NO POLICY WILL BE ISSUED Commitment No. 0816625-C Schedule B-II Exceptions Alta Commitment - 2006 Schedule B-II Exceptions COMMITMENT FOR TITLE INSURANCE SCHEDULE B - SECTION II EXCEPTIONS Schedule B of the policy or policies to be issued will contain exceptions to the following matters unless the same are disposed of to the satisfaction of the Company. Any loss or damage, including attorney fees, by reason of the matters shown below: 1. Any facts, rights, interests, or claims which are not shown by the Public Records but which could be ascertained by an inspection of said Land or by making inquiry of persons in possession thereof. 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. 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. 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 of the proposed insured acquires of record for value the estate or interest or mortgage thereon covered by this Commitment. 6. (a) Taxes or assessments that are not shown as existing liens by the records of any taxing authority that levies taxes or assessments on real property or by the Public Records; (b) proceedings by a public agency that may result in taxes or assessments, or notices of such proceedings, whether or not shown by the records of such agency or by the Public Records. 7. (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. 8. Right of proprietor of a vein or lode to extract and remove his ore therefrom should the same be found to penetrate or intersect the premises as reserved in United States Patent recorded May 06, 1905, in Book 48 at Page 273. 9. Right of way for ditches or canals constructed by the authority of the United States as reserved in United States Patent recorded May 06, 1905, in Book 48 at Page 273. 10. Restrictive covenants, which do not contain a forfeiture or reverter clause, but om11ting 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 August 16, 1972, in Book 225 at Page 88 and as amended in instrument recorded September 25, 1972 in Book 225 at Page 475 and Amendment recorded September 24, 2002, Reception No. 808055. 11. Easements, conditions, covenants, restrictions, reservations and notes on the Plat of Vail Village Commitment No. 0816625-C Schedule B-II Exceptions (continued) Alta Commitment - 2006 Schedule B-II Exceptions (continued) Twelfth Filing recorded August 16, 1972 in Book 225 at Page 89. 12. Terms, conditions and provisions of Conveyance of Utility Easement recorded May 24, 1973 in Book 229 at Page 274. 13. Terms, conditions and provisions of Restriction Relating to Tennis Courts contained in Quit-Claim Deed recorded October 14, 1980 in Book 311 at Page 24. 14. Terms, conditions and provisions of Agreement recorded March 03, 1988 in Book 479 at Page 837. 15. Terms, conditions and provisions of Amended and Restated Declaration recorded May 02, 2001 at Reception No. 756051. 16. Easements, conditions, covenants, restrictions, reservations and notes on the Plat of Vail Mountain School Subdivision recorded April 15, 2003 at Reception No. 829950. 17. Terms, conditions and provisions of Trench, Conduit and Vault Agreement recorded January 11, 2006 at Reception No. 200600874. 18. Terms, conditions and provisions of Easement Deed and Agreement recorded February 03, 2006 at Reception No. 200602915. 19. Terms, conditions and provisions of Revocable Encroachment License recorded March 27, 2008 at Reception No. 200806619. 20. Terms, conditions and provisions of Revocable Encroachment License recorded March 27, 2008 at Reception No. 200806620. 21. The effect of edge of construction disturbance onto utility easement as shown on Alta Survey prepared by Eagle Valley Surveying, Inc. dated 3/28/03, Job No. 142/2758. 22. The effect of sewer line apparent easement as shown on Alta Survey prepared by Eagle Valley Surveying, Inc., dated 3/28/03, Job No. 142/2758. 23. The effect of curb, guy and roads onto utility easement as shown on Alta Survey prepared by Eagle Valley Surveying, Inc., dated 3/28/03, Job No. 142/2758. 24. The effect of wood frame modular, rock walls, bike path and bus shelter onto utility easement as shown on Alta Survey prepared by Eagle Valley Surveying, Inc., dated 3/28/03, Job No. 142/2758. 25. The effect of booth falls road right of way onto subject property as shown on Alta Survey prepared by Eagle Valley Surveying, Inc., dated 3/28/03, Job No. 142/2758. 26. The effect of gravel drive (on lot 2) as shown on Alta Survey prepared by Eagle Valley Surveying, Inc., dated 3/28/03, Job No. 142/2758. 27. Security interest under the Uniform Commercial Code affecting subject property, from Vail Mountain School, debtor(s), to U.S.Bank, N.A., secured party, recorded March 15, 2010 at Reception No. 201004863. 28. Deed of Trust from Vail Mountain School, a Colorado nonprofit corporation, to the Public Trustee of Eagle County for the use of U.S. Bank, National Association, to secure $21,255,000.00, dated March 1, 2010, and recorded March 15, 2010 at Reception No. 201004864. Commitment No. 0816625-C Disclosure Statements DISCLOSURE STATEMENTS Disclosure Statements Note 1: 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.” (Gap Protection) Note 2: Exception No. 4 of Schedule B, Section 2 of this Commitment may be deleted from the Owner's Policy to be issued hereunder 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 may have been furnished by mechanics or materialmen for purpose of construction on the Land described in Schedule A of this Commitment within the past 13 months. C. The Company must receive an appropriate affidavit indemnifying the Company against unfiled mechanic's and materialmen's liens. D. Any deviation from conditions A though C above is subject to such additional requirements or Information as the Company may deem necessary, or, at its option, the Company may refuse to delete the exception. E. Payment of the premium for said coverage. Note 3: The following disclosures are hereby made pursuant to §10-11-122, C.R.S.: (i) The subject real property may be located in a special taxing district; (ii) A certificate of taxes due listing each taxing jurisdiction shall be obtained from the County Treasurer or the County Treasurer's authorized agent; and (iii) Information regarding special districts and the boundaries of such districts may be obtained from the County Commissioners, the County Clerk and Recorder, or the County Assessor. Note 4: If the sales price of the subject property exceeds $100,000.00, the seller shall be required to comply with the disclosure or withholding provisions of C.R.S. §39-22- 604.5 (Non-resident withholding). Note 5: Pursuant to C.R.S. §10-11-123 Notice is hereby given: (a) If there is recorded evidence that a mineral estate has been severed, leased or otherwise conveyed from the surface estate then 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 6: Effective September 1, 1997, C.R.S. §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 inch the clerk and recorder may refuse to record or file any document that does not conform. Note 7: Our Privacy Policy: We will not reveal nonpublic personal customer information to any external non- affiliated organization unless we have been authorized by the customer, or are required by law. Note 8: Records: Regulation 3-5-1 Section 7 (N) provides that each title entity shall maintain adequate documentation and records sufficient to show compliance with this regulation and Title 10 of the Colorado Revised Statutes for a period of not less than seven (7) years, except as otherwise permitted by law. Note 9: Pursuant Regulation 3-5-1 Section 9 (F) notice is hereby given that “A title entity shall not earn interest on fiduciary funds unless disclosure is made to all necessary parties to a transaction that interest is or has been earned. Said disclosure must offer the opportunity to receive payment of any interest earned on such funds beyond any administrative fees as may be on file with the division. Said disclosure must be clear and conspicuous, and may be made at any time up to and including closing.” Be advised that the closing agent will or could charge an Administrative Fee for processing such an additional services request and any resulting payee will also be subjected to a W-9 or other required tax documentation for such purpose(s). Be further advised that, for many transactions, the imposed Administrative Fee associated with such an additional service may exceed any such interest earned. Therefore, you may have the right to some of the interest earned over and above the Administrative Fee, if applicable (e.g., any money over any administrative fees involved in figuring the amounts earned). Note 10: Pursuant to Regulation 3-5-1 Section 9 (G) notice is hereby given that “Until a title entity receives written instructions pertaining to the holding of fiduciary funds, in a form agreeable to the title entity, it shall comply with the following: 1. The title entity shall deposit funds into an escrow, trust, or other fiduciary account and hold them in a fiduciary capacity. 2. The title entity shall use any funds designated as “earnest money” for the consummation of the transaction as evidenced by the contract to buy and sell real estate applicable to said transaction, except as otherwise provided in this section. If the transaction does not close, the title entity shall: a. Release the earnest money funds as directed by written instructions signed by both the buyer and seller; or b. If acceptable written instructions are not received, uncontested funds shall be held by the title entity for 180 days from the scheduled date of closing, after which the title entity shall return said funds to the payor. 3. In the event of any controversy regarding the funds held by the title entity (notwithstanding any termination of the contract), the title entity shall not be required to take any action unless and until such controversy is resolved. At its option and discretion, the title entity may: a. Await any proceeding; or b. Interplead all parties and deposit such funds into a court of competent jurisdiction, and recover court costs and reasonable attorney and legal fees; or c. Deliver written notice to the buyer and seller that unless the title entity receives a copy of a summons and complaint or claim (between buyer and seller), containing the case number of the lawsuit or lawsuits, within 120 days of the title entity’s written notice delivered to the parties, title entity shall return the funds to the depositing party.” Anti-Fraud Statement 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, denial of insurance and civil damages. Any insurance company or agent of an insurance company who knowingly provides false, incomplete, or misleading facts or information to a policyholder or claimant for the purpose of defrauding or 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. This anti-fraud statement is affixed to and made a part of this policy. CONDITIONS The term mortgage, when used herein, shall include deed of trust, trust deed, or other 1. security instrument. If the proposed Insured has or acquired actual knowledge of any defect, lien, 2. 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. Liability of the Company under this Commitment shall be only to the named 3. proposed Insured and such parties included under the definition of Insured in the form of policy or policies committed for and only for actual loss incurred in reliance hereon in undertaking in good faith (a) to comply with the requirements hereof, or (b) to eliminate exceptions shown in Schedule B, or (c) to acquire or create the estate or interest or mortgage thereon covered by this Commitment. In no event shall such liability exceed the amount stated in Schedule A for the policy or policies committed for and such liability is subject to the insuring provisions and Conditions and 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. This Commitment is a contract to issue one or more title insurance policies and is not 4. 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. The policy to be issued contains an arbitration clause. All arbitrable matters when 5. the Amount of Insurance is $2,000,000 or less shall be arbitrated at the option of either the Company or the Insured as the exclusive remedy of the parties. You may review a copy of the arbitration rules at< http://www.alta.org/>. Westcor Land Title Insurance Company Joint Notice of Privacy Policy of Westcor Land Title Insurance Company and The Title Company of the Rockies Westcor Land Title Insurance Company (“WLTIC”) and The Title Company of the Rockies value their customers and are committed to protecting the privacy of personal information. In keeping with that philosophy, we each have developed a Privacy Policy, set out below, that will endure the continued protection of your nonpublic personal information and inform you about the measures WLTIC and The Title Company of the Rockies take to safeguard that information. This notice is issued jointly as a means of paperwork reduction and is not intended to create a joint privacy policy. Each company’s privacy policy is separately instituted, executed, and maintained. Who is Covered We provide our Privacy Policy to each customer when they purchase a WLTIC title insurance policy. Generally, this means that the Privacy Policy is provided to the customer at the closing of the real estate transaction. Information Collected In the normal course of business and to provide the necessary services to our customers, we may obtain nonpublic personal information directly from the customer, from customer-related transactions, or from third parties such as our title insurance agent, lenders, appraisers, surveyors and other similar entities. Access to Information Access to all nonpublic personal information is limited to those employees who have a need to know in order to perform their jobs. These employees include, but are not limited to, those in departments such as closing, legal, underwriting, claims and administration and accounting. Information Sharing Generally, neither WLTIC nor The Title Company of the Rockies shares nonpublic personal information that it collects with anyone other than those individuals necessary needed to complete the real estate settlement services and issue its title insurance policy as requested by the consumer. WLTIC or The Title Company of the Rockies may share nonpublic personal information as permitted by law with entities with whom WLTIC or The Title Company of the Rockies has a joint marketing agreement. Entities with whom WLTIC or The Title Company of the Rockies have a joint marketing agreement have agreed to protect the privacy of our customer’s nonpublic personal information by utilizing similar precautions and security measures as WLTIC and The Title Company of the Rockies use to protect this information and to use the information for lawful purposes. WLTIC or The Title Company of the Rockies, however, may share information as required by law in response to a subpoena, to a government regulatory agency or to prevent fraud. Information Security WLTIC and The Title Company of the Rockies, at all times, strive to maintain the confidentiality and integrity of the personal information in its possession and has instituted measures to guard against its unauthorized access. We maintain physical, electronic and procedural safeguards in compliance with federal standards to protect that information. The WLTIC Privacy Policy can be found on WLTIC’s website at www.wltic.com