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Home My WebLink AboutDRB140023 Action Form ApplicationProjectName:DRBADDITION DRBNumber: DRB140023 ProjectDescription: BATHROOMADDITIONTOREAR (SOUTH) OFRESIDENCE Participants: OWNER GREGG, JAMESW. & LAURIEF. 01/27/2014 POBOX526 WOLCOTT, CO 0 APPLICANT NUTKINSDESIGNGROUP 01/27/2014 Phone: 970-471-0698 BILLNUTKINS POBOX634 EDWARDS CO 81632 ARCHITECT NUTKINSDESIGNGROUP 01/27/2014 Phone: 970-471-0698 BILLNUTKINS POBOX634 EDWARDS CO 81632 License: C000003908 ProjectAddress:1966GORECREEKDRVAIL Location: LegalDescription:Lot: 44Block: Subdivision: VAILVILLAGEWESTFIL2 ParcelNumber:2103-123-0702-6 Comments:Pleaseseebelow. BOARD/STAFFACTION MotionBy: Action: STAFFAPP SecondBy: Vote: DateofApproval: 02/07/2014 Conditions: Cond: 8 PLAN): NochangestotheseplansmaybemadewithoutthewrittenconsentofTownof Vailstaffand/ortheappropriatereviewcommittee(s). Cond: 0 PLAN): DRBapprovaldoesnotconstituteapermitforbuilding. Pleaseconsultwith TownofVailBuildingpersonnelpriortoconstructionactivities. Cond: 201 PLAN): DRBapprovalshallnotbecomevalidfor20daysfollowingthedateof approval, pursuanttotheVailTownCode, Chapter12-3-3: APPEALS. Cond: 202 PLAN): Approvalofthisprojectshalllapseandbecomevoidone (1) yearfollowing thedateoffinalapproval, unlessabuildingpermitisissuedandconstructionis commencedandisdiligentlypursuedtowardcompletion. Planner:JonathanSpence DRBFeePaid: $300.00 TOWN OF VAIL, COLORADOCopy Reprinted on 01-27-2014 at 15:45:02 Ol/27/2014 Statement Statement Number: R140000047 Amount: $300.00 O1/27/201403:44 PM Payment Method:Check Init: CG Notation: ck 4673 gregg & co Permit No: DRB140023 Type: DRB - Addition of GRFA Parcel No: 2103-123-0702-6 Site Address: 1966 GORE CREEK DR VAIL Location: Total Fees: 300. 00 This Payment: 300. 00 Total ALL Pmts: 300.00 Balance: 0.00 ACCOUNT ITEM LIST: Account Code Description Current Pmts DR 00100003112200 DESIGN REVIEW FEES 300. 00 rtluyil llF Depadment of Community Development 75 South Frontage Road Vail, CO 81657 Tel:970479-2128 www.vailgov.com Development Review Goord inator Application for Design Review Add itions-Residential or Gommercial General lnformation: This application is required for all proposals involving ttfe addition of any floor area, including netfloor area and/or gross residential floor area (GRFA). This also includes proposals for'residential 250 additions' and'interior conversions'. Applicable Vail Town Code sections can be found at www.vailqov.com under Vail Information - Town Code Online. All projects requiring design review must receive approvafirioitoTuOmitii-ng a building permit appli-cation' An application for Design Review cannot be accepted until all required information is received by th'e CommunityDevelopment Department, as outlined in the submittal requirements. The project may also need to be reviewed by thiTown Council and/or the Planning and Environmental Commission. Design rlview approvat expires one year from thedate of approval, unless a building permit is issued and construction commences. Fee: $300 V Single Family r Duplex Description of the Request: Multi-Family r GommercialI PhysicalAddress: 1966 West Gore Cteek Drive Property Owner: Mailing Address: Owner's Signature: Primary ContacU Mailing Address: & Laurie Box : (970) 470:5898 / Nutkins Design 81632 Phone: (970)471-0698 E-Mail: bnutkins@ndq-inc,com Fax: Parcef Number: 2103-123-07'026 (Contact Eagle Co. Assessor at 970-328-8640 for parcet no.) For Office Use Only: Cash_ CC: Msa / MC Last 4 CC# Exp. Date: Fee Paid: Received From: Meeting Date: Planner: DRB No.: Zoning: Project No: Land Use: Location of the Proposal: Lot:_ Block:_ Subdivision: Nov 201 3 Received By Carolyn Godfrey at 11:16 am, Jan 27, 2014 DRB140023 PRJ14-0026 44 Vail Village West Filing 2 2/19/14 Department of Community Development 75 South Frontage Road Vail, CO 81657 Tel: 970-479-2128 www.vailgov.com Development Review Coordinator Application for Design Review Additions—Residential or Commercial General Information: This application is required for all proposals involving the addition of any floor area, including net floor area and/or gross residential floor area (GRFA). This also includes proposals for ‘residential 250 additions’ and ‘interior conversions’. Applicable Vail Town Code sections can be found at www.vailgov.com under Vail Information – Town Code Online. All projects requiring design review must receive approval prior to submitting a building permit appli- cation. An application for Design Review cannot be accepted until all required information is received by the Community Development Department, as outlined in the submittal requirements. The project may also need to be reviewed by the Town Council and/or the Planning and Environmental Commission. Design review approval expires one year from the date of approval, unless a building permit is issued and construction commences. Fee: $300 ______ Single Family ______ Duplex ______ Multi-Family ________Commercial Description of the Request: ____________________________________________________________ ___________________________________________________________________________________ Physical Address: ____________________________________________________________________ Parcel Number: ___________________________(Contact Eagle Co. Assessor at 970-328-8640 for parcel no.) Property Owner: ____________________________________________________________________ Mailing Address: ____________________________________________________________________ ___________________________________________ Phone: _________________________________ Owner’s Signature: __________________________________________________________________ Primary Contact/ Owner Representative: _________________________________________________ Mailing Address: ____________________________________________________________________ ___________________________________________ Phone: _________________________________ E-Mail: _____________________________________Fax: ___________________________________ For Office Use Only: Cash___ CC: Visa / MC Last 4 CC # _________ Exp. Date: ________ Auth # _________ Check # ___________ Fee Paid: __________________________________ Received From: ___________________________________ Meeting Date: ______________________________ DRB No.: ________________________________________ Planner: ___________________________________ Project No: _______________________________________ Zoning: ____________________________________ Land Use: ________________________________________ Location of the Proposal: Lot:________ Block:________ Subdivision:_______________________________________ Nov 2013 Bathroom addition to an existing residence. 1966 West Gore Creek Drive 2103-123-07-026 Jim & Laurie Gregg P.O. Box 526 Wolcott, CO 81655 (970) 476-5898 Bill Nutkins / Nutkins Design Group PO Box 634, Edwards, CO 81632 (970) 471-0698 bnutkins@ndg-inc.com JOINT PROPERTY OWNER WRITTEN APPROVAL LETTER The applicant must submit written joint property owner approval for applications affecting shared ownership properties such as duplex, condominium, and multi-tenant buildings. This form, or similar written correspondence, must be com- pleted by the adjoining duplex unit owner or the authorized agent of the home owner’s association in the case of a con- dominium or multi-tenant building. All completed forms must be submitted with the applicants completed application. I, (print name) ______________________________________________, a joint owner, or authority of the association, of property located at _______________________________________________________, provide this letter as written approval of the plans dated __________________________________________ which have been submitted to the Town of Vail Community Development Department for the proposed improvements to be completed at the address not- ed above. I understand that the proposed improvements include: _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ I understand that modifications may be made to the plans over the course of the review process to ensure compliance with the Town’s applicable codes and regulations; and that it is the sole responsibility of the applicant to keep the joint property owner apprised of any changes and ensure that the changes are acceptable and appropriate. Submittal of an application results in the applicant agreeing to this statement. _________________________________________ ____________________________________________ Signature Date P r i n t N a m e Property Address Parcel # Legal Description Development Site Area sq ft acres buildable sq ft Zone District / SDD # Hazard Zones Sections 12-21 & 14-7 Snow Avalanche High Severity Moderate Severity N/A Debris Flow High Flow Moderate Flow High Avalanche N/A Rock fall High Severity Medium Severity N/A Excessive Slopes ≥30% N/A Floodplain 100 year floodplain Floodway Wetlands N/A Creeks, Streams Section 12-14-17 Gore Creek on site adjacent to site N/A Other tributary: ______________ on site adjacent to site N/A Project Description Development Standards Allowed Existing Proposed Gross Residential Floor Area (maximum) Chapter 12-15 Primary sq ft Secondary sq ft EHU sq ft TOTAL sq ft 250 Addition Interior Conversion Credits: Setbacks (minimum) Section 14-10-4 Front ft Side ft Side ft Rear ft Watercourse ft Site Coverage (maximum) see definition Section 12-2-2 Building Height (maximum) see definition Section 12-2-2 Sloping ft Flat ft Landscaping See definition Section 14-2-1 Section 14-10-8 Softscape sq ft Hardscape sq ft TOTAL sq ft Driveway Sections 14-3-1 & 14-3-2 Max Curb-cuts Max Grade @ cen- terline Min Width Heated drive? Yes No Yes No Snow Storage % Parking Sections 12-10 & 14-5 #Enclosed Spaces #Unenclosed TOTAL Outdoor Lighting (maximum) Section 14-10-7 # fixtures Property Information Project Information 1966 West Gore Creek Drive 2103-123-07-026 Lot 44, Filing 2, Vail Village West 10,768 .2427 Two Family Primary/Secondary Residential (PS) 4 4 4 4 4 Bath addition to existing residence 2969 3149 1128 1128 5,441.8 4097 4277 Garage - 300 per space/unit;+550 Type 1EHU;Basement - 775 20'unchanged 15'unchanged 15'unchanged 15'unchanged N/A unchanged 2,692 1,615 1,795 33'33' unchanged unchanged unchanged 2 unchanged 10%unchanged 12'unchanged 4 4 30%unchanged 3 total 2/3 = 5 2/3 = 5 unchanged DESIGN REVIEW PROCESS Pre-application Meeting A pre-application meeting with Town of Vail Staff is not required; however, highly recommended. The purpose of a pre- application meeting is to identify any critical issues pertaining to the proposal and to determine the appropriate development review process for an application. Please call the Development Review Coordinator at 970-479-2128 to schedule. Deadlines and Meeting Dates The Design Review Board meets on the 1st and 3rd Wednesdays of each month beginning at 3:00 pm. Complete applications are due in the Office of Community Development no later than 12:00 noon on the submittal deadlines below: Application Submittal Submit all required information under the submittal requirements section of this application by the deadlines stated above. Incomplete applications will not be processed. Upon receipt of a complete application, the Community Development Department shall review the submitted materials for general compliance with the appropriate requirements of the zoning code. If the application is not in compliance with zoning code requirements, the application and submittal materials shall be returned to the applicant with a written explanation of non-compliance. Staff Review The Administrator (a member of the Planning Staff) will review and either approve a Design Review application, approve it with conditions, deny the application, or refer the application to the Design Review Board for a decision. All Staff approvals are reviewed by the Design Review Board and any administrative decision is subject to final approval by the Board. The Board reviews applications and may approve, approve with conditions, deny the application, or table the application to allow applicants to respond to comments. Design Review Board Meeting Requirements Prior to the meeting, for new construction and additions, the applicant must stake and tape the project site to indicate property lines, proposed buildings and building corners. All trees proposed to be removed must be marked. The applicant must ensure that staking done during the winter is not buried by snow. The applicant, or their representative(s), shall be present at the Design Review Board public meeting. The item will be postponed if the applicant fails to appear before the Design Review Board, on their scheduled meeting date. SUBMITTAL REQUIREMENTS The Town of Vail offers two (2) methods for submittal of materials for review of applications. Materials can be submitted ei- ther digitally or on paper. Whichever method you select all materials shall be submitted in that format throughout the Design Review process. The Town encourages you to consider using the submittal of digital documents and plans. If submitting digitally all elements of the application shall be uploaded to the Town’s share file site as a complete set of materi- als. If submitting paper three (3) copies of the materials noted with an asterisk (*) and one (1) copy of all others are required. The materials necessary to have a complete application are as follows: Environmental Hazards (i.e. rock fall, debris flow, avalanche, wetlands, floodplain, soils). Wetland delineation and provide any necessary approvals or permits from Colorado Department of Natural Re- sources and/ or Army Corp of Engineers. Watercourse setbacks, if applicable (show centerline and edge of stream or creek in addition to the required stream or creek setback). Show all utility meter locations, including any pedestals on site or in the right-of-way adjacent to the site. Exact lo- cation of existing utility sources and proposed service lines from their source to the structure. Utilities to include, cable TV, sewer, gas, telephone, water, electric, size and type of drainage culverts, swales, etc. Adjacent roadways labeled and edge of asphalt for both sides of the roadway shown for a minimum of 250’ in either direction from property. Any adjacent sidewalks and trails. Landscaping summary, including the botanical and common names, size and quantity of trees to be removed and proposed trees. The minimum size for proposed trees is 2” caliper deciduous trees, coniferous trees that are six feet in height, and 5 gallon shrubs. Also specify types of groundcover and proposed square footage. Include a de- scription of any other landscaping features (ponds, fountains, retaining walls, pools, etc.). PROPOSED MATERIALS Notes: Please specify the manufacturer’s name, the color name and number and attach a color chip. Building Materials Type of Material Color Roof . . Siding . . Other Wall Materials . . Fascia . . Soffits . . Windows . . Window Trim . . Doors . . Door Trim . . Hand or Deck Rails . . Flues . . Flashing . . Chimneys . . Trash Enclosures . . Greenhouses . . Retaining Walls . . Exterior Lighting . . Other . . Composite Shingle match exist Stucco match exist Wood match existing Wood match existing Metal Clad match existing Stucco match existing N/A N/A N/A N/A Metal match existing N/A N/A N/A N/A N/A PROPOSED LANDSCAPING Minimum Requirements for Landscaping: Deciduous Trees – 2” Caliper Coniferous Trees – 6’ in height S h r u b s – 5 G a l . Please specify other landscape features (i.e. retaining walls, fences, swimming pools, etc.) __________________________________________________________________________________________________ __________________________________________________________________________________________________ __________________________________________________________________________________________________ __________________________________________________________________________________________________ Botanical Name Common Name Quantity Size PROPOSED TREES . AND SHRUBS . . . . . . . EXISTING TREES . TO BE REMOVED . . . . Type Square Footage GROUND COVER SOD SEED IRRIGATION TYPE OF EROSION CONTROL UTILITY APPROVAL & VERIFICATION This form serves to verify that the proposed improvements will not impact any existing or proposed utility services, and also to verify service availability and location for new construction and should be used in conjunction with preparing your utility plan and scheduling installations. A site plan, including grading plan, floor plan, and elevations, shall be submitted to the following utilities for approval and verification. PLEASE ALLOW UP TO 2 WEEKS FOR APPROVAL OR COM- MENTS FROM THE UTILITY COMPANIES. If you are unable to obtain comments within that timeframe please contact The Town of Vail. Subject Property Address: ____________________________ Lot____ Block _____ Subdivision: _______________ Primary Contact / Owner Representative: ___________________________________ Phone: __________________ _________________________________________________________________ Plans Dated: _________________ Primary Contact/Owner Representative Signature NOTES: 1. Utility locations must be obtained before digging. 2. A Revocable Right-of-Way Permit may be required for any improvements within a street right-of-way. Contact the Public Works Department for verification 970.479.2198. 3. It is the responsibility of the utility company and the applicant to resolve problems identified above. 4. The Primary Contact/Owner Representative is required to submit any revised drawings to the above agencies for re-approval & re-verification if the submitted plans are altered in any way after the authorized signature date. Authorized Signature Comments Date CENTURY LINK 970.328.8288 (tel) 970.328.8282 (fax) Contacts: Barb Davis barb.davis@centurylink.com XCEL HIGH PRESSURE GAS 970.406.1784 (tel) 970.468.1401 (fax) Contact: Remington Baker remington.c.baker@xcelenergy.com HOLY CROSS ENERGY 970.947.5425 (tel) 970.945.4081 (fax) Contact: Jeff Vroom jvroom@holycross.com XCEL Energy 970.262.4039 (tel) 970.262.4038 (fax) Contacts: Pam McGuire pamela.mcquire@xcelenergy.com EAGLE RIVER WATER & SANITATION DISTRICT 970.477.5449 (tel) 970.845.7218 (fax) Contact: Tug Birk tbirk@erwsd.org COMCAST CABLE 970.930.4713 (tel) 303.603.1004 (fax) Contact: Michael Johnson Michael_johnson@cable.comcast.com CDOT (Only in CDOT Right-of-way) 970.683.6284 (tel) Contact: Dan Roussin Daniel.roussin@dot.state.co.us JANUARY 27, 2014 Town of Vail Design Review Board 75 South Frontage Road Vail, Colorado 81657 RE: Gregg Residence Addition; 1966 West Gore Creek Drive; Assessor #2103-123-07-026 Design Review Board, Thank you for the opportunity to this application for review. Please find below a brief description of the submitted project. The current residence is zoned Two Family Primary/Secondary with a Type 1 EHU. The allowable total square footage is 5,442 square feet. The current total square footage after deductions is 4,097 square feet. The proposed addition is 180 square foot. The proposed addition will be located on the south side of the home and is proposed to be over a xeriscape area which is adjacent to the Master Bedroom Deck. The new addition will be an expanded Master Bath, with a new walk-in closet is proposed in the location of the current Master Bath. The roof will tie into the existing ridge therefore no higher than the highest peak. No additional site modifications are proposed at this time. I hope the above information helps with your current review of the proposed addition. Sincerely, Bill Nutkins Architect Nutkins Design Group View from West Gore Creek Drive Area of New Addition (behind existing home) POLICY NO. WESTCOR LAND TITLE INSURANCE COMPANYIssued By: By: P re sid e n t A tte st: S ec re ta ry POLICY NO. L P -1 3 A L T A 6 -1 7 -0 6 L o a n P o licy (W L T IC E ditio n 3 /1 3 /0 8 ) ALTA (6 -1 7 -0 6 ) LOAN POLICY ISSUED B Y WESTCOR LAND TITLE INSURANCE COMPANY An y n o t ic e o f c la im a n d a n y o t h e r n o t ic e o r s t a te m e n t in w r itin g r e q u ir e d t o b e g iv e n to t h e Co m p a n y u n d e r t h is Po lic y m u s t b e g iv e n t o t h e Co m p a n y a t t h e a d d r e s s s h o w n in Se c t io n 1 7 o f t h e Co n d it io n s . COV ERED RISK S S U BJ E C T T O T H E E X C L U S IO N S F R O M C O V E R A G E , T H E E X C E P T IO N S F R O M C O V E R A G E C O N T A IN E D IN S C H E D U L E B, A N D T H E C O N D IT IO N S , W E S T C O R L A N D T IT L E IN S U R A N C E C O M P A N Y , a C a lifo r n ia c o r p o r a tio n (th e “C o m p a n y”) in sur es a s o f D a te o f P o licy a n d, to th e ex ten t sta t ed in C o v er ed R isk s 1 1 , 1 3 , a n d 1 4 , a fter D a te o f P o licy, a g a in st lo ss o r da m a g e, n o t ex ceedin g th e A m o un t o f In sur a n ce, susta in ed o r in cur red b y th e In sur ed b y rea so n o f: 1 .T itle b ein g v ested o th er th a n a s sta ted in S c h edule A . 2 .A n y defec t in o r lien o r en c um b ra n c e o n th e T itle. T h is C o v er ed R isk in cludes b ut is n o t lim ited to in sura n c e a g a in st lo ss fr o m (a ) A defec t in th e T itle ca used b y (i)fo r g er y, fr a ud, un due in uen c e, dur ess, in co m p eten cy, in c a p a c ity, o r im p erso n a tio n ; (ii)fa ilur e o f a n y p erso n o r E n tity to h a v e a uth o r iz ed a tr a n sfer o r c o n v eya n c e; (iii)a do cum en t a ffectin g T itle n o t p r o p erly c rea ted, ex ec uted, w itn essed, sea led, a ck n o w ledg ed, n o ta riz ed, o r deliv er ed; (iv )fa ilur e to p erfo r m th o se a c ts n ecessa r y to cr ea t e a do c um en t b y electr o n ic m ea n s a uth o riz ed b y la w ; (v )a do c um en t ex ec uted un der a fa lsi ed, ex p ir ed, o r o th erw ise in v a lid p o w er o f a t to rn ey; (v i)a do c um en t n o t p r o p erly led, r ec o r ded, o r in dex ed in th e P ub lic R ec o r ds in c ludin g fa ilure to p erfo r m th o se a c ts b y electro n ic m ea n s a uth o riz ed b y la w ; o r (v ii)a defec tiv e judicia l o r a dm in istra tiv e p ro ceedin g . (b )T h e lien o f r ea l esta te ta x es o r a ssessm en t s im p o sed o n th e T itle b y a g o v er n m en ta l a uth o rity due o r p a ya b le, b ut un p a id. (c)A n y en c ro a c h m en t, en c um b r a n c e, v io la tio n , v a ria tio n , o r a dv er se c irc um sta n c e a ffec tin g th e T itle th a t w o uld b e disc lo sed b y a n a cc ur a t e a n d co m p lete la n d sur v ey o f t h e L a n d. T h e ter m “en c r o a c h m en t” in cludes en cr o a ch m en ts o f ex istin g im p ro v em en ts lo ca ted o n th e L a n d o n to a djo in in g la n d, a n d en cr o a c h m en ts o n to th e L a n d o f ex istin g im p ro v em en ts lo c a ted o n a djo in in g la n d. 3 .U n m a r k eta b le T itle. 4 .N o rig h t o f a c c ess to a n d fr o m th e L a n d. 5 .T h e v io la tio n o r en fo r cem en t o f a n y la w , o rdin a n ce, p er m it, o r g o v er n m en ta l r eg ula tio n (in c ludin g th o se r ela tin g to b uildin g a n d z o n in g ) r estric t in g , reg ula tin g , p r o h ib itin g , o r r ela tin g t o (a )th e o c cup a n cy, use, o r en jo ym en t o f t h e L a n d; (b )th e ch a r a cter, dim en sio n s, o r lo ca tio n o f a n y im p r o v em en t erec ted o n th e L a n d; (c)th e sub div isio n o f la n d; o r (d)en v ir o n m en ta l p r o t ec tio n if a n o tic e, desc r ib in g a n y p a r t o f th e L a n d, is r ec o rded in th e P ub lic R ec o r ds settin g fo r th th e v io la tio n o r in ten t io n to en fo rc e, b ut o n ly to th e ex ten t o f th e v io la tio n o r en fo rc em en t refer r ed to in th a t n o tic e. COV ERED RISK S Co n t in u e d o n n e x t p a g e IN W IT N E S S W H E R E O F , WESTCOR LAND TITLE INSURANCE COMPANY h a s c a used th is p o lic y t o b e sig n ed a n d sea led a s o f th e D a te o f P o lic y sh o w n in S c h edule A . LP-13-CO1049-3041315 CO1049 * 12-0503 Denver, CO 80237 4600 S. Syracuse Street, Floor 9 Title Assure, Inc. 6.An enforcement action based on the exercise of a governmental police power not covered by Covered Risk 5 if a notice of the enforcement action, describing any part of the Land, is recorded in the Public Records, but only to the extent of the enforcement referred to in that notice. 7.The exercise of the rights of eminent domain if a notice of the exercise, describing any part of the Land, is recorded in the Public Records. 8.Any taking by a governmental body that has occurred and is binding on the rights of a purchaser for value without K nowledge. 9 .The invalidity or unenforceability of the lien of the Insured Mortgage upon the Title. This Covered Risk includes but is not limited to insurance against loss from any of the following impairing the lien of the Insured Mortgage (a)forgery, fraud, undue in uence, duress, incompetency, incapacity, or impersonation; (b) failure of any person or Entity to have authorized a transfer or conveyance; (c)the Insured Mortgage not being properly created, executed, witnessed, sealed, acknowledged, notarized, or delivered; (d)failure to perform those acts necessary to create a document by electronic means authorized by law; (e)a document executed under a falsi ed, expired, or otherwise invalid power of attorney; (f)a document not properly led, recorded, or indexed in the Public Records including failure to perform those acts by electronic means authorized by law; or (g)a defective judicial or administrative proceeding. 10.The lack of priority of the lien of the Insured Mortgage upon the Title over any other lien or encumbrance. 11. The lack of priority of the lien of the Insured Mortgage upon the Title (a)as security for each and every advance of proceeds of the loan secured by the Insured Mortgage over any statutory lien for services, labor, or material arising from construction of an improvement or work related to the Land when the improvement or work is either (i)contracted for or commenced on or before Date of Policy; or (ii)contracted for, commenced, or continued after Date of Policy if the construction is nanced, in whole or in part, by proceeds of the loan secured by the Insured Mortgage that the Insured has advanced or is obligated on Date of Policy to advance; and (b)over the lien of any assessments for street improvements under construction or completed at Date of Policy. 12.The invalidity or unenforceability of any assignment of the Insured Mortgage, provided the assignment is shown in Schedule A, or the failure of the assignment shown in Schedule A to vest title to the Insured Mortgage in the named Insured assignee free and clear of all liens. 13.The invalidity, unenforceability, lack of priority, or avoidance of the lien of the Insured Mortgage upon the Title (a)resulting from the avoidance in whole or in part, or from a court order providing an alternative remedy, of any transfer of all or any part of the title to or any interest in the Land occurring prior to the transaction creating the lien of the Insured Mortgage because that prior transfer constituted a fraudulent or preferential transfer under federal bankruptcy, state insolvency, or similar creditors’ rights laws; or (b)because the Insured Mortgage constitutes a preferential transfer under federal bankruptcy, state insolvency, or similar creditors’ rights laws by reason of the failure of its recording in the Public Records (i)to be timely, or (ii)to impart notice of its existence to a purchaser for value or to a judgment or lien creditor. 14.Any defect in or lien or encumbrance on the Title or other matter included in Covered Risks 1 through 13 that has been created or attached or has been led or recorded in the Public Records subseq uent to Date of Policy and prior to the recording of the Insured Mortgage in the Public Records. The Company will also pay the costs, attorneys’ fees, and expenses incurred in defense of any matter insured against by this Policy, but only to the extent provided in the Conditions. The following matters are expressly excluded from the coverage of this policy, and the Company will not pay loss or damage, costs, attorneys’ fees, or expenses that arise by reason of: 1.(a) Any law, ordinance, permit, or governmental regulation (including those relating to building and zoning) restricting, regulating, prohibiting, or relating to (i)the occupancy, use, or enjoyment of the Land; (ii)the character, dimensions, or location of any improvement erected on the Land; (iii) the subdivision of land; or (iv) environmental protection; or the effect of any violation of these laws, ordinances, or govern- mental regulations. This Exclusion 1(a) does not modify or limit the coverage provided under Covered Risk 5. (b)Any governmental police power. This Exclusion 1(b) does not modify or limit the coverage provided under Covered Risk6 2.Rights of eminent domain. This Exclusion does not modify or limit the coverage provided under Covered Risk 7 o r 8 . 3. Defects, liens, encumbrances, adverse claims, or other mat- ters (a)created, suffered, assumed, or agreed to by the Insured Claimant; (b)not Known to the Company, not recorded in the Public Re- cords at Date of Policy, but Known to the Insured Claimant and not disclosed in writing to the Company by the Insured Claimant prior to the date the Insured Claimant became an Insured under this policy; (c)resulting in no loss or damage to the Insured Claimant; (d)attaching or created subsequent to Date of Policy (however, this does not modify or limit the coverage provided under Covered Risk 11, 13, or 14); or (e)resulting in loss or damage that would not have been sustained if the Insured Claimant had paid value for the Insured Mort- gage. EXCLUSIONS FROM COVERAGE CONDITIONS AND STIPULATIONS (B)the person or Entity who has “control” of the “trans- ferable record,” if the Indebtedness is evidenced by a ³WUDQVIHUDEOHUHFRUG´DVWKHVHWHUPVDUHGH¿QHGE\ applicable electronic transactions law; (C)successors to an Insured by dissolution, merger, con- solidation, distribution, or reorganization; (D)successors to an Insured by its conversion to another kind of Entity; (E)a grantee of an Insured under a deed delivered without payment of actual valuable consideration conveying the Title (1)if the stock, shares, memberships, or other equity interests of the grantee are wholly-owned by the named Insured, (2)if the grantee wholly owns the named Insured, or LIWKHJUDQWHHLVZKROO\RZQHGE\DQDI¿OLDWHG(Q- WLW\RIWKHQDPHG,QVXUHGSURYLGHGWKHDI¿OLDWHG Entity and the named Insured are both wholly- owned by the same person or Entity; (F)any government agency or instrumentality that is an insurer or guarantor under an insurance contract or guaranty insuring or guaranteeing the Indebtedness secured by the Insured Mortgage, or any part of it, whether named as an Insured or not; (ii)With regard to (A), (B), (C), (D) , and (E) reserving, however, all rights and defenses as to any successor that the Company would have had against any predecessor Insured, unless the successor acquired the Indebtedness as a purchaser for value without Knowledge of the asserted defect, lien, encumbrance, or other matter insured against by this policy. (f)“Insured Claimant”: An Insured claiming loss or damage. (g)“Insured Mortgage”: The Mortgage described in paragraph 4 of Schedule A. (h)“Knowledge” or “Known”: Actual knowledge, not construc- tive knowledge or notice that may be imputed to an Insured by reason of the Public Records or any other records that impart constructive notice of matters affecting the Title. L³/DQG´7KHODQGGHVFULEHGLQ6FKHGXOH$DQGDI¿[HGLPSURYH- ments that by law constitute real property. The term “Land” does not include any property beyond the lines of the area described in Schedule A, nor any right, title, interest, estate,or easement in abutting streets, roads, avenues, alleys, lanes, ways, or waterways, but this does not modify or limit the extent that a right of access to and from the Land is insured by this policy. (j)“Mortgage”: Mortgage, deed of trust, trust deed, or other secu- rity instrument, including one evidenced by electronic means 1. DEFINITION OF TERMS The following terms when used in this policy mean: (a)“Amount of Insurance”: The amount stated in Schedule A, as may be increased or decreased by endorsement to this policy, increased by Section 8(b) or decreased by Section 10 of these Conditions. (b)“Date of Policy”: The date designated as “Date of Policy” in Schedule A. (c)“Entity”: A corporation, partnership, trust, limited liability company, or other similar legal entity. (d)“Indebtedness”: The obligation secured by the Insured Mortgage including one evidenced by electronic means authorized by law, and if that obligation is the payment of a debt, the Indebtedness is the sum of (i)the amount of the principal disbursed as of Date of Poli- cy; (ii)the amount of the principal disbursed subsequent to Date of Policy; (iii)the construction loan advances made subsequent to Date of 3ROLF\IRUWKHSXUSRVHRI¿QDQFLQJLQZKROHRULQSDUWWKH construction of an improvement to the Land or related to the Land that the Insured was and continued to be obligated to advance at Date of Policy and at the date of the advance; (iv)interest on the loan; (v)the prepayment premiums, exit fees, and other similar fees or penalties allowed by law; (vi)the expenses of foreclosure and any other costs of enforce- ment; (vii)the amounts advanced to assure compliance with laws or to protect the lien or the priority of the lien of the Insured Mortgage before the acquisition of the estate or interest in the Title; (viii) the amounts to pay taxes and insurance; and (ix)the reasonable amounts expended to prevent deterioration of improvements; but the Indebtedness is reduced by the total of all payments and by any amount forgiven by an Insured. (e)“Insured”: The Insured named in Schedule A. (i) The term “Insured” also includes (A)the owner of the Indebtedness and each successor in ownership of the Indebtedness, whether the owner or successor owns the Indebtedness for its own account or DVDWUXVWHHRURWKHU¿GXFLDU\H[FHSWDVXFFHVVRUZKR is an obligor under the provisions of Section 12(c) of these Conditions; 4. Unenforceability of the lien of the Insured Mortgage because of the inability or failure of an Insured to comply with applicable doing-business laws of the state where the Land is situated. 5. Invalidity or unenforceability in whole or in part of the lien of the Insured Mortgage that arises out of the transaction evidenced by the Insured Mortgage and is based upon usury or any consumer credit protection or truth-in-lending law. 6. Any claim, by reason of the operation of federal bankruptcy, state insolvency, or similar creditors’ rights laws, that the transac- tion creating the lien of the Insured Mortgage, is (a)a fraudulent conveyance or fraudulent transfer, or (b)a preferential transfer for any reason not stated in Covered Risk 13(b) of this policy. 7. Any lien on the Title for real estate taxes or assessments imposed by governmental authority and created or attaching between Date of Policy and the date of recording of the Insured Mortgage in the Public Records. This Exclusion does not modify or limit the coverage provided under Covered Risk 11(b). CONDITIONS AND STIPULATIONS - CONTINUED authorized by law. (k) “Public Records”: Records established under state statutes at Date of Policy for the purpose of imparting constructive notice of matters relating to real property to purchasers for value and without Knowledge. With respect to Covered Risk 5(d), “Pub- lic Records” shall also include environmental protection liens ¿OHGLQWKHUHFRUGVRIWKHFOHUNRIWKH8QLWHG6WDWHV'LVWULFW Court for the district where the Land is located. (l) “Title”: The estate or interest described in Schedule A. (m)“Unmarketable Title”: Title affected by an alleged or apparent matter that would permit a prospective purchaser or lessee of the Title or lender on the Title or a prospective purchaser of the Insured Mortgage to be released from the obligation to purchase, lease, or lend if there is a contractual condition requiring the delivery of marketable title. 2. CONTINUATION OF INSURANCE The coverage of this policy shall continue in force as of Date of Policy in favor of an Insured after acquisition of the Title by an Insured or after conveyance by an Insured, but only so long as the Insured retains an estate or interest in the Land, or holds an obliga- tion secured by a purchase money Mortgage given by a purchaser from the Insured, or only so long as the Insured shall have liability by reason of warranties in any transfer or conveyance of the Title. This policy shall not continue in force in favor of any purchaser from the Insured of either (i) an estate or interest in the Land, or (ii) an obligation secured by a purchase money Mortgage given to the Insured. 3. NOTICE OF CLAIM TO BE GIVEN BY INSURED CLAIMANT The Insured shall notify the Company promptly in writing (i) in case of any litigation as set forth in Section 5(a) of these Condi- tions, (ii) in case Knowledge shall come to an Insured of any claim of title or interest that is adverse to the Title or the lien of the In- sured Mortgage, as insured, and that might cause loss or damage for which the Company may be liable by virtue of this policy, or (iii) if the Title or the lien of the Insured Mortgage, as insured, is rejected as Unmarketable Title. If the Company is prejudiced by the failure of the Insured Claimant to provide prompt notice, the Company’s liability to the Insured Claimant under the policy shall be reduced to the extent of the prejudice. 4. PROOF OF LOSS In the event the Company is unable to determine the amount of loss or damage, the Company may, at its option, require as a condition of payment that the Insured Claimant furnish a signed proof of loss. The proof of loss must describe the defect, lien, encumbrance, or other matter insured against by this policy that constitutes the basis of loss or damage and shall state, to the extent possible, the basis of calculating the amount of the loss or damage. 5. DEFENSE AND PROSECUTION OF ACTIONS (a)Upon written request by the Insured, and subject to the options contained in Section 7 of these Conditions, the Company, at its own cost and without unreasonable delay, shall provide for the defense of an Insured in litigation in which any third party asserts a claim covered by this policy adverse to the Insured. This obligation is limited to only those stated causes of action alleging matters insured against by this policy. The Company shall have the right to select counsel of its choice (subject to the right of the Insured to object for reasonable cause) to represent the Insured as to those stated causes of action. It shall not be liable for and will not pay the fees of any other counsel. The Company will not pay any fees, costs, or expenses incurred by the Insured in the defense of those causes of action that allege matters not insured against by this policy. (b)The Company shall have the right, in addition to the options contained in Section 7 of these Conditions, at its own cost, to institute and prosecute any action or proceeding or to do any other act that in its opinion may be necessary or desirable to establish the Title or the lien of the Insured Mortgage, as insured, or to prevent or reduce loss or damage to the Insured. The Company may take any appropriate action under the terms of this policy, whether or not it shall be liable to the Insured. The exercise of these rights shall not be an admission of liability or waiver of any provision of this policy. If the Company exercises its rights under this subsection, it must do so diligently. (c)Whenever the Company brings an action or asserts a defense as required or permitted by this policy, the Company may pursue WKHOLWLJDWLRQWRD¿QDOGHWHUPLQDWLRQE\DFRXUWRIFRPSHWHQW jurisdiction, and it expressly reserves the right, in its sole dis- cretion, to appeal any adverse judgment or order. 6. DUTY OF INSURED CLAIMANT TO COOPERATE (a)In all cases where this policy permits or requires the Company to prosecute or provide for the defense of any action or proceed- ing and any appeals, the Insured shall secure to the Company the right to so prosecute or provide defense in the action or proceeding, including the right to use, at its option, the name of the Insured for this purpose. Whenever requested by the Company, the Insured, at the Company’s expense, shall give the Company all reasonable aid (i) in securing evidence, obtaining witnesses, prosecuting or defending the action or proceeding, or effecting settlement, and (ii) in any other lawful act that in the opinion of the Company may be necessary or desirable to establish the Title, the lien of the Insured Mortgage, or any other matter as insured. If the Company is prejudiced by the failure of the Insured to furnish the required cooperation, the Company’s obligations to the Insured under the policy shall terminate, including any liability or obligation to defend, pros- ecute, or continue any litigation, with regard to the matter or matters requiring such cooperation. (b)The Company may reasonably require the Insured Claimant to submit to examination under oath by any authorized representa- tive of the Company and to produce for examination, inspec- tion, and copying, at such reasonable times and places as may be designated by the authorized representative of the Company, all records, in whatever medium maintained, including books, ledgers, checks, memoranda, correspondence, reports, e-mails, disks, tapes, and videos whether bearing a date before or after Date of Policy, that reasonably pertain to the loss or damage. Further, if requested by any authorized representative of the Company, the Insured Claimant shall grant its permission, in writing, for any authorized representative of the Company to examine, inspect, and copy all of these records in the custody or control of a third party that reasonably pertain to the loss RUGDPDJH$OOLQIRUPDWLRQGHVLJQDWHGDVFRQ¿GHQWLDOE\WKH Insured Claimant provided to the Company pursuant to this Section shall not be disclosed to others unless, in the reasonable judgment of the Company, it is necessary in the administration of the claim. Failure of the Insured Claimant to submit for examination under oath, produce any reasonably requested information, or grant permission to secure reasonably necessary information from third parties as required in this subsection, unless prohibited by law or governmental regulation, shall terminate any liability of the Company under this policy as to that claim. 7. OPTIONS TO PAY OR OTHERWISE SETTLE CLAIMS; TERMINATION OF LIABILITY In case of a claim under this policy, the Company shall have the following additional options: (a)To Pay or Tender Payment of the Amount of Insurance or to Purchase the Indebtedness. (i)To pay or tender payment of the Amount of Insurance under this policy together with any costs, attorneys’ fees, and expenses incurred by the Insured Claimant that were authorized by the Company up to the time of payment or tender of payment and that the Company is obligated to pay; or (ii)To purchase the Indebtedness for the amount of the Indebted- ness on the date of purchase, together with any costs, attorneys’ fees, and expenses incurred by the Insured Claimant that were authorized by the Company up to the time of purchase and that the Company is obligated to pay. When the Company purchases the Indebtedness, the Insured shall transfer, assign, and convey to the Company the Indebtedness and the Insured Mortgage, together with any collateral security. Upon the exercise by the Company of either of the options provided for in subsections (a)(i) or (ii), all liability and obligations of the Company to the Insured under this policy, other than to make the payment required in those subsections, shall terminate, including any liability or obligation to defend, prosecute, or continue any litigation. (b)To Pay or Otherwise Settle With Parties Other Than the Insured or With the Insured Claimant. (i)to pay or otherwise settle with other parties for or in the name of an Insured Claimant any claim insured against under this policy. In addition, the Company will pay any costs, attorneys’ fees, and expenses incurred by the Insured Claimant that were authorized by the Company up to the time of payment and that the Company is obligated to pay; or (ii)to pay or otherwise settle with the Insured Claimant the loss or damage provided for under this policy, together with any costs, attorneys’ fees, and expenses incurred by the Insured Claimant that were authorized by the Company up to the time of payment and that the Company is obligated to pay. Upon the exercise by the Company of either of the options provided for in subsections (b)(i) or (ii), the Company’s obligations to the Insured under this policy for the claimed loss or damage, other than the payments required to be made, shall terminate, including any liability or obligation to defend, prosecute, or continue any litigation. 8. DETERMINATION AND EXTENT OF LIABILITY This policy is a contract of indemnity against actual monetary loss or damage sustained or incurred by the Insured Claimant who has suffered loss or damage by reason of matters insured against by this policy. (a)The extent of liability of the Company for loss or damage under this policy shall not exceed the least of (i)the Amount of Insurance, (ii)the Indebtedness, (iii)the difference between the value of the Title as insured and the value of the Title subject to the risk insured against by this policy, or (iv)if a government agency or instrumentality is the Insured Claimant, the amount it paid in the acquisition of the Title or the Insured Mortgage in satisfaction of its insurance contract or guaranty. (b)If the Company pursues its rights under Section 5 of these Conditions and is unsuccessful in establishing the Title or the lien of the Insured Mortgage, as insured, (i)the Amount of Insurance shall be increased by 10%, and (ii)the Insured Claimant shall have the right to have the loss or damage determined either as of the date the claim was made by the Insured Claimant or as of the date it is settled and paid. (c)In the event the Insured has acquired the Title in the manner described in Section 2 of these Conditions or has conveyed the Title, then the extent of liability of the Company shall continue as set forth in Section 8(a) of these Conditions. (d)In addition to the extent of liability under (a), (b), and (c), the Company will also pay those costs, attorneys’ fees, and expenses incurred in accordance with Sections 5 and 7 of these Condi- tions. 9. LIMITATION OF LIABILITY (a)If the Company establishes the Title, or removes the alleged de- fect, lien, or encumbrance, or cures the lack of a right of access to or from the Land, or cures the claim of Unmarketable Title, or establishes the lien of the Insured Mortgage, all as insured, in a reasonably diligent manner by any method, including litigation and the completion of any appeals, it shall have fully performed its obligations with respect to that matter and shall not be liable for any loss or damage caused to the Insured. (b)In the event of any litigation, including litigation by the Com- pany or with the Company’s consent, the Company shall have QROLDELOLW\IRUORVVRUGDPDJHXQWLOWKHUHKDVEHHQD¿QDOGHWHU- mination by a court of competent jurisdiction, and disposition of all appeals, adverse to the Title or to the lien of the Insured Mortgage, as insured. (c)The Company shall not be liable for loss or damage to the Insured for liability voluntarily assumed by the Insured in set- tling any claim or suit without the prior written consent of the Company. 10. REDUCTION OF INSURANCE; REDUCTION OR TERMINATION OF LIABILITY (a)All payments under this policy, except payments made for costs, attorneys’ fees, and expenses, shall reduce the Amount of Insurance by the amount of the payment. However, any payments made prior to the acquisition of Title as provided in Section 2 of these Conditions shall not reduce the Amount of Insurance afforded under this policy except to the extent that the payments reduce the Indebtedness. (b)The voluntary satisfaction or release of the Insured Mortgage shall terminate all liability of the Company except as provided in Section 2 of these Conditions. 11. PAYMENT OF LOSS :KHQOLDELOLW\DQGWKHH[WHQWRIORVVRUGDPDJHKDYHEHHQGH¿QLWHO\ ¿[HGLQDFFRUGDQFHZLWKWKHVH&RQGLWLRQVWKHSD\PHQWVKDOOEH made within 30 days. 12. RIGHTS OF RECOVERY UPON PAYMENT OR SETTLEMENT (a)The Company’s Right to Recover Whenever the Company shall have settled and paid a claim under this policy, it shall be subrogated and entitled to the rights of the Insured Claimant in the Title or Insured Mortgage and all other rights and remedies in respect to the claim that the Insured Claimant has against any person or property, to the extent of the amount of CONDITIONS AND STIPULATIONS - CONTINUED any loss, costs, attorneys’ fees, and expenses paid by the Company. If requested by the Company, the Insured Claimant shall execute documents to evidence the transfer to the Company of these rights and remedies. The Insured Claimant shall permit the Company to sue, compromise, or settle in the name of the Insured Claimant and to use the name of the Insured Claimant in any transaction or litigation involving these rights and remedies. If a payment on account of a claim does not fully cover the loss of the Insured Claimant, the Company shall defer the exercise of its right to recover until after the Insured Claimant shall have recovered its loss. (b)The Insured’s Rights and Limitations (i)The owner of the Indebtedness may release or substitute the personal liability of any debtor or guarantor, extend or otherwise modify the terms of payment, release a portion of the Title from the lien of the Insured Mortgage, or release any collateral security for the Indebtedness, if it does not affect the enforceability or priority of the lien of the Insured Mortgage. (ii)If the Insured exercises a right provided in (b)(i), but has Knowledge of any claim adverse to the Title or the lien of the Insured Mortgage insured against by this policy, the Company shall be required to pay only that part of any losses insured against by this policy that shall exceed the amount, if any, lost to the Company by reason of the im- pairment by the Insured Claimant of the Company’s right of subrogation. (c)The Company’s Rights Against Noninsured Obligors The Company’s right of subrogation includes the Insured’s rights against non-insured obligors including the rights of the Insured to indemnities, guaranties, other policies of insurance, or bonds, not- withstanding any terms or conditions contained in those instruments that address subrogation rights. The Company’s right of subrogation shall not be avoided by ac- quisition of the Insured Mortgage by an obligor (except an obligor described in Section 1(e)(i)(F) of these Conditions) who acquires the Insured Mortgage as a result of an indemnity, guarantee, other policy of insurance, or bond, and the obligor will not be an Insured under this policy. 13.ARBITRATION Either the Company or the Insured may demand that the claim or controversy shall be submitted to arbitration pursuant to the Title Insurance Arbitration Rules of the American Land Title Associa- tion (“Rules”). Except as provided in the Rules, there shall be no joinder or consolidation with claims or controversies of other persons. Arbitrable matters may include, but are not limited to, any controversy or claim between the Company and the Insured arising out of or relating to this policy, any service in connection with its issuance or the breach of a policy provision, or to any other controversy or claim arising out of the transaction giving rise to this policy. All arbitrable matters when the Amount of Insurance is $2,000,000 or less shall be arbitrated at the option of either the Company or the Insured. All arbitrable matters when the Amount of Insurance is in excess of $2,000,000 shall be arbitrated only when agreed to by both the Company and the Insured. Arbitration pursuant to this policy and under the Rules shall be binding upon the parties. Judgment upon the award rendered by the Arbitrator(s) may be entered in any court of competent jurisdiction. 14. LIABILITY LIMITED TO THIS POLICY; POLICY ENTIRE CONTRACT (a)This policy together with all endorsements, if any, attached to it by the Company is the entire policy and contract between the Insured and the Company. In interpreting any provision of this policy, this policy shall be construed as a whole. (b)Any claim of loss or damage that arises out of the status of the Title or lien of the Insured Mortgage or by any action asserting such claim shall be restricted to this policy. (c)Any amendment of or endorsement to this policy must be in writing and authenticated by an authorized person, or expressly incorporated by Schedule A of this policy. (d)Each endorsement to this policy issued at any time is made a part of this policy and is subject to all of its terms and provi- sions. Except as the endorsement expressly states, it does not (i) modify any of the terms and provisions of the policy, (ii) modify any prior endorsement, (iii) extend the Date of Policy, or (iv) increase the Amount of Insurance. 15. SEVERABILITY In the event any provision of this policy, in whole or in part, is held invalid or unenforceable under applicable law, the policy shall be deemed not to include that provision or such part held to be invalid, but all other provisions shall remain in full force and effect. 16. CHOICE OF LAW; FORUM (a)Choice of Law: The Insured acknowledges the Company has underwritten the risks covered by this policy and determined the premium charged therefor in reliance upon the law affecting interests in real property and applicable to the interpretation, rights, remedies, or enforcement of policies of title insurance of the jurisdiction where the Land is located. Therefore, the court or an arbitrator shall apply the law of the juris- diction where the Land is located to determine the validity of claims against the Title or the lien of the Insured Mortgage that are adverse to the Insured and to interpret and enforce the terms of this policy. ,QQHLWKHUFDVHVKDOOWKHFRXUWRUDUELWUDWRUDSSO\LWVFRQÀLFWVRIODZ principles to determine the applicable law. (b)Choice of Forum: Any litigation or other proceeding brought E\WKH,QVXUHGDJDLQVWWKH&RPSDQ\PXVWEH¿OHGRQO\LQD state or federal court within the United States of America or its territories having appropriate jurisdiction. 17. NOTICES, WHERE SENT Any notice of claim and any other notice or statement in writing required to be given to the Company under this policy must be given to the Company at Westcor Land Title Insurance Company, Attn.: Claims, 201 N. New York Ave., Ste. 200, Winter Park, Florida 32789.Telephone: (407) 629-5842. CONDITIONS AND STIPULATIONS - CONTINUED ALTA 6-17-06 LOAN POLICY ____________________ _______________ Authorized Signatory Issued By Title Assure, Inc. 4600 S. Syracuse St, 9th Floor, Denver, CO 80237 Note: This policy is of no force and effect unless Schedule A and Schedule B are attached together with any added pages incorporated by reference. LP-13S / ALTA 6-17-06 Loan Policy Schedule A and B (WLTIC Edition 9/18/07) SCHEDULE A Name and Address of Title Insurance Company: Westcor Land Title Insurance Company, 201 N. New York Avenue, Suite 200, Winter Park, Florida, 32789 State: CO County: EAGLE Address Reference: 1966 West Gore Creek Drive File Number: 12-0503 Policy Number: LP-13-CO1049-3041315 Loan No.: 2200339809 Date of Policy: April 3, 2013 Amount of Insurance: $528,000.00 Simultaneous #: NONE Reinsurance #: 1. Name of Insured: US BANK National Association, and its successors and/or assigns as their interests may appear. 2. The estate or interest in the Land that is encumbered by the Insured Mortgage is: FEE SIMPLE 3. Title is vested in: James W. Gregg and Laurie F. Gregg by virtue of that certain deed from Gregg and Co. Builders, Inc., a Colorado Corporation to James W. Gregg and Laurie F. Gregg dated September 25, 1995 and recorded on September 28, 1995 in the Register’s office in EAGLE County, Colorado at Reception Number 573063 Book 677, Page 51. 4. The Insured Mortgage and its assignments, if any, are described as follows: A Deed of Trust from James W. Gregg and Laurie F. Gregg to the Public Trustee of EAGLE County for the benefit of US BANK National Association , dated March 25, 2013 , in the principal amount of $528,000.00 recorded April 3, 2013 at Reception Number 201306752. 5. The Land referred to in this policy is described as follows: SEE EXHIBIT A ATTACHED HERETO 6. This policy incorporates by reference those ALTA endorsements selected below: ___ 4-06 (Condominium) ___ 4.1-06 (Condominium) ___ 5-06 Planned Unit (Development) ___ 5.1-06 (Planned Unit Development) _X_ 6-06 (Variable Rate) ___ 6.2-06 (Variable Rate Negative Amortization) ___ 7-06 (Manufactured Housing, if a manufactured housing unit is located on the Land at Date of Policy.) ___ 7.1-06 (Manufactured Housing-Conversion; Loan) _X_ 8.1-06 (Environmental Lien Protection referring to statutes: NONE ) ___ 9-06 (Restrictions, Encroachments, Minerals) ___ 9.3-06 (Restrictions, Encroachments, Minerals-Loan Policy) ___ 14-06 (Future Advance - Priority) ___ 14.1-06 (Future Advance - Knowledge) ___ 14.3-06 (Future Advance-Reverse Mortgage) ___ 22-06 (Location) ALTA 6-17-06 LOAN POLICY LP-13S / ALTA 6-17-06 Loan Policy Schedule A and B (WLTIC Edition 9/18/07) EXHIBIT A Legal Description Agent #: CO1049 Order #: 12-0503 LOT 44, VAIL VILLAGE WEST, FILING NO. 2, COUNTY OF EAGLE, STATE OF COLORADO For informational purposes only: 1966 West Gore Creek Drive, Vail, CO 81657 ALTA 6-17-06 LOAN POLICY LP-13S / ALTA 6-17-06 Loan Policy Schedule A and B (WLTIC Edition 9/18/07) SCHEDULE B – PART 1 Agent #: CO1049 Order #: 12-0503 This policy does not insure against loss or damage, and the Company will not pay costs, attorneys' fees, or expenses that arise by reason of: 1. Rights or claims of parties in possession not shown by the public records. 2. Easements, or claims of easements, not shown by the public records. 3. Discrepancies, conflicts in boundary lines, shortage in area, encroachments, and any facts which a correct survey and inspection of the premises would disclose and which are not shown by the public records. 4. Any lien, or right to a lien, for services, labor, or material heretofore or hereafter furnished, imposed by law and not shown by the public records. Exceptions numbered 1-4 are hereby omitted. 5. Taxes and assessments for the 2nd half of 2012 taxes, and for the year 2013 and subsequent years, a lien, but not yet due and payable. 6. Any water or well rights, or rights or title to water or claims thereof, in, on or under the land. 7. Unpatented mining claims; reservations or exceptions in patents or in the Acts authorizing the issuance of said patents. 8. Any and all notes, easements and recitals as disclosed on the recorded plat of said subdivision. 9. Covenants, conditions and restrictions, if any, appearing in the public records. The Policy to be issued will insure that the same have not been violated and any future violation will not result in a forfeiture or reversion of title and that there are no provisions under which the lien of the insured mortgage can be extinguished, subordinated or impaired. 10. Any easements or servitudes appearing in the public records. The Policy to be issued will insure that none of the improvements encroach upon the easements and that any use of the easements for the purposes granted or reserved will not interfere with or damage the existing improvements. 11. Any lease, grant, exception or reservation of minerals or mineral rights appearing in the public records. The Policy to be issued will insure that the use of the land for residential one-to-four family dwelling purposes is not, and will not be affected or impaired by reason of any lease, grant exception or reservation of minerals or mineral rights appearing in the public records and insures against damage to existing improvements resulting from the future exercise of any right to use the surface of the land for the extraction or development of the minerals or mineral rights so leased, granted, excepted or reserved. Nothing herein or in the Policy to be issued or in the endorsements attached thereto shall be construed to insure against loss or damage resulting from subsidence. 12. The Policy to be issued will insure against loss or damage by reason of any violation, variation, encroachment or adverse circumstance affecting title that would have been disclosed by an accurate survey. The term “encroachment” includes encroachments of existing improvements located on the land onto adjoining land and encroachments onto the land of existing improvements located on adjoining land. ALTA 6-17-06 LOAN POLICY LP-13S / ALTA 6-17-06 Loan Policy Schedule A and B (WLTIC Edition 9/18/07) SCHEDULE B – PART 2 In addition to the matters set forth in Part 1 of this Schedule, the Title is subject to the following matters, and the Company insures against loss or damage sustained in the event that they are not subordinate to the lien of the Insured Mortgage: Deed of Trust from James W. Gregg and Laurie F. Gregg to U.S. Bank National Association to secure indebtedness in the original principal amount of $500,000.00 dated April 22, 2010 and recorded May 19, 2010 at Reception No. 201009445, in the records of the County Clerk and Recorder of EAGLE County, Colorado. The Subordination Agreement dated February 25, 2013 and recorded April 3, 2013 At Reception Number 201306750, given in connection with the above Deed of Trust, purports to be in subordinate position to said Deed of Trust dated March 25, 2013 and recorded April 3, 2013 at Reception Number 201306752. Modification to Deed of Trust (Line Agreement) dated February 25, 2013 and Recorded At Reception Number 201306751, given in connection with the above Deed of Trust Recorded May 19, 2010 at Reception Number 201009445, purports to decrease the Original Credit Limit in the Maximum principal indebtedness of $500,000.00 to New Credit Limit of $374,400.00. ALTA 6-17-06 LOAN POLICY LP-13S / ALTA 6-17-06 Loan Policy Schedule A and B (WLTIC Edition 9/18/07) COLORADO FORM 100 RESTRICTIONS, ENCROACHMENTS & MINERALS Attached to and forming a part of Policy No. LP-13-CO1049-3041315 Issued by WESTCOR LAND TITLE INSURANCE COMPANY The Company hereby insures the owner of the indebtedness secured by the insured mortgage against loss or damage which the insured shall sustain by reason of: 1. The existence of any of the following: (a) Covenants, conditions or restrictions under which the lien of the mortgage referred to in Schedule A can be cut off, subordinated, or otherwise impaired; (b) Present violations on the land of any enforceable covenants, conditions or restrictions; (c) Except as shown in Schedule B, encroachments of buildings, structures or improvements located on the land onto adjoining lands, or any encroachments onto the land of buildings, structures or improvements located on adjoining lands. 2. (a) Any future violations on the land of any covenants, conditions or restrictions occurring prior to acquisition of title to the estate or interest referred to in Schedule A by the insured, provided such violations result in impairment or loss of the lien of the mortgage referred to in Schedule A, or result in impairment or loss of the title to the estate or interest referred to in Schedule A if the insured shall acquire such title in satisfaction of the indebtedness secured by the insured mortgage; 3. Damage to existing improvements, including lawns, shrubbery or trees (a) Which are located or encroach upon that portion of the land subject to any easement shown in Schedule B, which damage results from the exercise of the right to use or maintain such easement for the purposes for which the same was granted or reserved; 4. Any final court order or judgment requiring removal from any land adjoining the land of any encroachment shown in Schedule B. As used in this endorsement, the words "covenants, conditions or restrictions" do not refer to or include the terms, covenants, conditions or restrictions contained in any lease. The total liability of the Company under said Policy and any Endorsements therein shall not exceed, in the aggregate, the face amount of the Policy and cost which the Company is obligated under the Conditions and Stipulations thereof to pay. This endorsement is made a part of said Policy as of the date thereof and is subject to the schedules, conditions and stipulations therein, except as modified by the provisions hereof. As used in this endorsement, the words "covenants, conditions or restrictions" do not refer to or include any covenant, condition or restriction (a) relating to obligations of any type to perform maintenance, repair or remediation on the land, or (b) pertaining to environmental protection of any kind or nature, including hazardous or toxic matters, conditions or substances except to the extent that a notice of a violation or alleged violation affecting the land has been recorded in the public records at Date of Policy and is not excepted in Schedule B. This endorsement is issued as part of the policy. Except as it expressly states, it does not (i) modify any of the terms and provisions of the policy, (ii) modify any prior endorsements, (iii) extend the Date of Policy, or (iv) increase the Amount of Insurance. To the extent a provision of the policy or a previous endorsement is inconsistent with an express provision of this endorsement, this endorsement controls. Otherwise, this endorsement is subject to all of the terms and provisions of the policy and of any prior endorsements. ALTA 6-17-06 LOAN POLICY LP-13S / ALTA 6-17-06 Loan Policy Schedule A and B (WLTIC Edition 9/18/07) DATED: April 3, 2013 Issued By: _______________________ Authorized Signatory Member’s Name and Address Title Assure, Inc: 4600 South Syracuse St, 9 th Floor-Denver, Co 80237 Telephone No. 303-219-1459 ALTA 6-17-06 LOAN POLICY LP-13S / ALTA 6-17-06 Loan Policy Schedule A and B (WLTIC Edition 9/18/07) We are obligated by Colorado law (CRS § 10-1-128) to provide the following statement: 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. Gr e g g R e s i d e n c e 196 6 W e s t G o r e C r e e k D r i v e Lot 44 , V a i l V i l l a g e W e s t , F i l i n g 2 V a i l , C o l o r a d o D R B - 0 1 / 2 7 / 2 0 1 4 S C A L E : 1 " = 3 0 0 ' 1 5 0 ' 3 0 0 ' 0 6 0 0 ' C o n s u l t a n t s : S h e e t J o b # : I s s u e d : D w g . N a m e : Revision No.Date S e a l T O V D R B 0 1 / 2 7 / 2 0 1 4 C o v e r S h e e t 2 0 1 3 - 0 1 1 A 0 . 0 Gregg Residence Addition Lot 44, Filing 2, Vail Village West Town of Vail, Colorado C i v i l : S t r u c t u r a l : K R M E n g i n e e r i n g L a n d s c a p e : E l e c t r i c a l : B y S h e l l e y B e l l m a t 2 : 0 5 p m , J a n 2 7 , 2 0 1 4 D R B 1 4 0 0 2 3 D E S I G N R E V I E W A D M I N I S T R A T I V E A P P R O V A L B y j s p e n c e a t 8 : 1 9 a m , F e b 0 7 , 2 0 1 4 C o n s u l t a n t s : S h e e t J o b # : I s s u e d : D w g . N a m e : Revision No.Date S e a l T O V D R B 0 1 / 2 7 / 2 0 1 4 P a r t i a l S i t e G r a d i n g P l a n 2 0 1 3 - 0 1 1 A 1 . 1 Gregg Residence Addition Lot 44, Filing 2, Vail Village West Town of Vail, Colorado C i v i l : S t r u c t u r a l : K R M E n g i n e e r i n g L a n d s c a p e : E l e c t r i c a l : DESIGN REVIEW ADMINISTRATIVE APPROVAL By jspence at 8:19 am, Feb 07, 2014 C o n s u l t a n t s : S h e e t J o b # : I s s u e d : D w g . N a m e : Revision No.Date S e a l T O V D R B 0 1 / 2 7 / 2 0 1 4 R e v i s e d F l o o r P l a n s & E l e v a t i o n s 2 0 1 3 - 0 1 1 A 2 . 1 Gregg Residence Addition Lot 44, Filing 2, Vail Village West Town of Vail, Colorado C i v i l : S t r u c t u r a l : K R M E n g i n e e r i n g L a n d s c a p e : E l e c t r i c a l : D E S I G N R E V I E W A D M I N I S T R A T I V E A P P R O V A L B y j s p e n c e a t 8 : 1 8 a m , F e b 0 7 , 2 0 1 4 C o n s u l t a n t s : S h e e t J o b # : I s s u e d : D w g . N a m e : Revision No.Date S e a l T O V D R B 0 1 / 2 7 / 2 0 1 4 R e v i s e d R o o f P l a n s 2 0 1 3 - 0 1 1 A 2 . 2 Gregg Residence Addition Lot 44, Filing 2, Vail Village West Town of Vail, Colorado C i v i l : S t r u c t u r a l : K R M E n g i n e e r i n g L a n d s c a p e : E l e c t r i c a l : C o n s u l t a n t s : S h e e t J o b # : I s s u e d : D w g . N a m e : Revision No.Date S e a l T O V D R B 0 1 / 2 7 / 2 0 1 4 R e v i s e d 0 2 / 5 / 2 0 1 4 A r e a P l a n s 2 0 1 3 - 0 1 1 A 2 . 0 Gregg Residence Addition Lot 44, Filing 2, Vail Village West Town of Vail, Colorado C i v i l : S t r u c t u r a l : K R M E n g i n e e r i n g L a n d s c a p e : E l e c t r i c a l :