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Home My WebLink AboutADM140006 Title ReportLand Tttle GUARANTEE COMPANY WWW.LTCiC.COM Date: 04-02-2014 Property Address: Land Title Guarantee Company CUSTOMER DISTRIBUTION Our Order Number: V50034586-4 97 ROCKLEDGE ROAD AKA LOTS 3A & 38 VAIL VILLAGE FIRST FLG/RAETHER MINOR SUB VAIL, CO 81657 If you have any inquiries or require further assistance, please contact one of the numbers below: For Closini: Assistance: Kathryn Kuchler 0090 BENCHMARK RD #205 PO BOX 3480 AVON, CO 81620 Phone: 970-748-4782 Fax: 866-358-6634 EMail: kkuchler@ltgc.com RON BYRNE & ASSOCIATES *TMX* 285 BRIDGE STREET PERSONAL AND CONFIDENTIAL VAIL, CO 81657 Attn: RONALD BYRNE Phone: 970-476-1987 Fax: 970-476-6747 EMail: tthomas@ronbyrne.com Sent Via EMail For Title Assistance: Vail Title Dept. 610 WEST LIONSHEAD CIRCLE #200 VAIL, CO 81657 Phone: 970-477-4522 Fax: 970-476-4534 EMail: eaglecountyrequests@ltgc.com Land Title Guarantee Company land Title Date: 04-02-2014 Our Order Number: V50034586-4 GUARANTEl COMPANY WWW.LTGC.COM Property Address: 97 ROCKLEDGE ROAD AKA LOTS 3A & 3B VAIL VILLAGE FIRST FLG/RAETHER MINOR SUB VAIL, CO 81657 Buyer/Borrower: A BUYER TO BE DETERMINED Seller/Owner: ROCKLEDGE REAL ESTATE LLC, A COLORADO LIMITED LIABILITY COMPANY Wire Information: (Please note: We do not accept ACH electronic transfers.) Bank: FIRSTBANK OF COLORADO 10403 W COLFAX A VENUE LAKEWOOD, CO 80215 Phone: 303-237-5000 Credit: LAND TITLE GUARANTEE COMPANY ABA No.: 107005047 Account: 2160521825 Attention: Kathryn Kuchler ****************************************************************** Note: Once an original commitment has been issued, any subsequent modifications will be emphasized by underlining. ****************************************************************** Need a map or directions for;our upcoming closing? Check out Land Title's web site at www.ltgc.com for directions to any of our 5 office locations. ESTIMATE OF TITLE INSURANCE FEES TBD Commitment Recordings STATEMENT OF AUTHORITY TBD -TBD Income $100.00 $21.00 $-100.00 If Land Title Guarantee Campany will be closing this transaction, above fees will be collected at that time. TOTAL $21.00 Form CONTACT 06/04 THANK YOU FOR YOUR ORDER! Land Trtle GUARANTEE COMPANY WWW.Lf(;C.COM LAND TITLE GUARANTEE COMPANY INVOICE NO. VA-6041 RON BYRNE & ASSOCIATES 285 BRIDGE STREET VAIL, CO 81657 RONALD BYRNE Owner: ROCKLEDGE REAL ESTATE LLC. A COLORADO LIMITED LIABILITY COMPANY Address: 97 ROCKLEDGE ROAD AKA LOTS 3A & 3B VAIL VILLAGE FIRST FLG/RAETHER MINOR SUB VAIL, CO 81657 Invoice Date: April 02, 2014 Order No. V50034586-4 Invoice Charges TBD Commitment Recordings STATEMENT OF AUTHORITY TBD -TBD Income -Amount Due - Due and payable upon receipt. For Remittance please refer to Invoice No. VA-6041 Please make checks payable to: Land Title Guarantee Company 5975 Greenwood Plaza Blvd. Suite 125 Greenwood Village, CO 80111-4701 $100.00 $21.00 $-100.00 $21.00 First American Title Insurance Company ALTA COMMITMENT Our Order No. V50034586-4 Schedule A Cust. Ref.: Property Address: 97 ROCKLEDGE ROAD AKA LOTS 3A & 3B VAIL VILLAGE FIRST FLG/RAETHER MINOR SUB VAIL, CO 81657 1. Effective Date: March 25. 2014 at 5:00 P.M. 2. Policy to be Issued, and Proposed Insured: "TBD" Commitment $0.00 Proposed Insured: A BUYER TO BE DETERMINED 3. The estate or interest in the land described or referred to in this Commitment and covered herein is: A Fee Simple 4. Title to the estate or interest covered herein is at the effective date hereof vested in: ROCKLEDGE REAL ESTATE LLC, A COLORADO LIMITED LIABILITY COMPANY 5. The Land referred to in this Commitment is described as follows: SEE ATTACHED PAGE(S) FOR LEGAL DESCRIPTION Copyright 2006-2014 American Land Title Association. All rights reserved. The use of this Fonn is restricted to AL TA licensees and AL TA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association. AMERICAN LAND TITLL ASSOl..:JAllON Our Order No: V50034586-4 LEGAL DESCRIPTION PARCEL I: LOT 3A, A REPLAT OF A PORTION OF BLOCK 7 VAIL VILLAGE FIRST FILING AND LOT 2 OF RAETHER MINOR SUBDIVISION, ACCORDING TO THE PLAT RECORDED FEBRUARY 10, 2000 UNDER RECEPTION NO. 722440, COUNTY OF EAGLE, STATE OF COLORADO. PARCEL 2: LOT 3B, A REPLAT OF A PORTION OF BLOCK 7 VAIL VILLAGE FIRST FILING AND LOT 2 OF RAETHER MINOR SUBDIVISION, ACCORDING TO THE PLAT RECORDED FEBRUARY 10, 2000 UNDER RECEPTION NO. 722440, COUNTY OF EAGLE, STATE OF COLORADO. ALTA COMMITMENT Schedule B -Section 1 (Requirements) Our Order No. V50034586-4 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: Item (c) Payment of all taxes, charges or assessments levied and assessed against the subject premises which are due and payable. Item (d) Additional requirements, if any disclosed below: 1. (ITEM INTENTIONALLY DELETED) 2. (ITEM INTENTIONALLY DELETED) 3. (ITEM INTENTIONALLY DELETED) 4. WARRANTY DEED FROM ROCKLEDGE REAL ESTATE LLC, A COLORADO LIMITED LIABILITY COMPANY TO A BUYER TO BE DETERMINED CONVEYING SUBJECT PROPERTY. STATEMENT OF AUTHORITY FOR ROCKLEDGE REAL ESTATE LLC, A COLORADO LIMITED LIABILITY COMPANY RECORDED NOVEMBER 21, 2012 UNDER RECEPTION NO. 201223382 DISCLOSES BENNETT DORRANCE, DAWN OLSEN, JASON STILES OR KARA TRULLINGER AS OFFICERS WHO MAY ACQUIRE, CONVEY, ENCUMBER, LEASE OR OTHERWISE DEAL WITH INTERESTS IN REAL PROPERTY FOR SAID ENTITY. NOTE: ADDITIONAL REQUIREMENTS OR EXCEPTIONS MAY BE NECESSARY WHEN THE BUYERS NAMES ARE ADDED TO THIS COMMITMENT. COVERAGES AND/OR CHARGES REFLECTED HEREIN, IF ANY, ARE SUBJECT TO CHANGE UPON RECEIPT OF THE CONTRACT TO BUY AND SELL REAL ESTATE AND ANY AMENDMENTS THERETO. ALTA COMMITMENT Schedule B -Section 2 (Exceptions) Our Order No. V50034586-4 The policy or policies to be issued will contain exceptions to the following unless the same are disposed of to the satisfaction of the Company: 1. Any facts, rights, interests, or claims thereof, not shown by the Public Records but that could be ascertained by an inspection of the Land or that may be asserted by persons in possession of the Land. 2. Easements, liens or encumbrances, or claims thereof, not shown by the Public Records. 3. Any encroachment, encumbrance, violation, variation, or adverse circumstance affecting the Title that would be disclosed by an accurate and complete land survey of the Land and not shown by the Public Records. 4. Any lien, or right to a lien, for services, labor or material heretofore or hereafter furnished, imposed by law and not shown by the Public Records. 5. Defects, liens, encumbrances, adverse claims or other matters, if any, created, first appearing in the public records or attaching subsequent to the effective date hereof but prior to the date the proposed insured acquires of record for value the estate or interest or mortgage thereon covered by this Commitment. 6. Any and all unpaid taxes, assessments and unredeemed tax sales. 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 WAY FOR DITCHES OR CANALS CONSTRUCTED BY THE AUTHORITY OF THE UNITED STATES AS RESERVED IN UNITED STATES PATENT RECORDED DECEMBER 19, 1997, IN BOOK 746 AT PAGE 892 RECEPTION NO. 642836. 9. TERMS, CONDITIONS AND PROVISIONS OF EXCEPTIONS AND RESERVATIONS AS CONTAINED IN UNITED STATES PATENT RECORDED DECEMBER 19, 1997 IN BOOK 746 AT PAGE 892 RECEPTION NO. 642836. 10. TERMS, CONDITIONS, AND PROVISIONS OF PARTY WALL AGREEMENT RECORDED JANUARY 02, 1992, IN BOOK 569 AT PAGE 938. 11. TERMS, CONDITIONS, PROVISIONS, AND RESERVATIONS OF EXCHANGE AGREEMENT RECORDED MARCH 17, 1997 IN BOOK 720 AT PAGE 718. 12. EASEMENTS, RESERVATIONS, AND RESTRICTIONS AS SHOWN OR RESERVED ON THE PLAT RECORDED FEBRUARY 10, 2000 RECEPTION NO. 722440. 13. TERMS, CONDITIONS AND PROVISIONS OF AGREEMENT CREATING RESTRICTIVE ALTA COMMITMENT Schedule B -Section 2 (Exceptions) Our Order No. V50034586-4 The policy or policies to be issued will contain exceptions to the following unless the same are disposed of to the satisfaction of the Company: COVENANTS RECORDED FEBRUARY 10, 2000 AT RECEPTION NO. 722441. 14. TERMS, CONDITIONS AND PROVISIONS OF EASEMENT AGREEMENT AND TERMINATION OF DECLARATION, COVENANTS AND ROAD MAINTENANCE AGREEMENT RECORDED MARCH 29, 2000 AT RECEPTION NO. 725778. 15. TERMS, CONDITIONS AND PROVISIONS OF TYPE II EMPLOYEE HOUSING UNIT RESTRICTIVE COVENANT RECORDED AUGUST 03, 2001 AT RECEPTION NO. 763891. 16. TERMS, CONDITIONS AND PROVISIONS OF APPLICATION FOR REVOCABLE PERMIT TO ERECT OR MAINTAIN IMPROVEMENTS ON A PUBLIC RIGHT OF WAY RECORDED MAY 14, 2001 AT RECEPTION NO. 756988. 17. TERMS, CONDITIONS AND PROVISIONS OF EASEMENT AGREEMENT AND GRANT OF EASEMENT AND RIGHT OF WAY RECORDED MARCH 14, 2002 AT RECEPTION NO. 789055. 18. TERMS, CONDITIONS AND PROVISIONS OF APPLICATION FOR REVOCABLE PERMIT RECORDED JULY 11, 2003 AT RECEPTION NO. 840060. LAND TITLE GUARANTEE COMPANY and LAND TITLE GUARANTEE COMPANY -GRAND JUNCTION DISCLOSURE STATEMENTS Note: Pursuant to CRS 10-11-122, notice is hereby given that: A) The subject real property may be located in a S,Pecial taxing district. B) A Certificate of Taxes Due listing each taxing Jurisdiction Shall be obtained from the County Treasurer or the County Treasurer's authorized agent. C) The information regarding special districts and the boundaries of such districts may be obtained from the Board of County Commissioners, the County Clerk and Recorder, or the County Assessor. Note: Effective September 1, 1997, CRS 30-10-406 requires that all documents received for recording or filing in the clerk and recorder's office shall contain a top margin of at least one inch and a left, right and bottom margin of at least one half of an inch. The clerk and recorder may refuse to record or file any document that does not conform, exceP.t that, the requirement for the top margin shall not apply to documents using forms on which space is provided for recording or filing information at the top margm of the document. Note: Colorado Division oflnsurance Regulation 3-5-1, Section 7L requires that "Every title entity shall be responsible for all matters which appear of record prior to the time of recording whenever the title entily conducts the closing and is responsible for recordin~ or filing of legal documents resulting from the transaction wfiich was closed". Provided that I:and Title Guarantee Company conducts the closing of the insured transaction and is responsible for recordin$ the legal documents from the transaction, exception number 5 will not appear on the Owner s Title POiicy and the Lenders Policy when issued. Note: Affirmative mechanic's lien protection for the Owner may be available (typically by deletion of Exception no. 4 of Schedule B, Section 2 of the Commitment from the Owner s Policy to be issued) upon compliance with the following conditions: A) The land described in Schedule A of this commitment must be a single family residence which includes a condominium or townhouse unit. B) No labor or materials have been furnished by mechanics or material-men for purposes of construction on the land described in Schedule A of this Commitment within the past 6 months. C) The Company must receive an appropriate affidavit indemnifying the Company against un-filed mechanics and material-men's hens. D) The Company must receive payment of the appropriate premium. E) If there has been construction, improvements or major repairs undertaken on the property to be purchased within six months prior to the Date of the Commitment, the requirements to obtain coverage for unrecorded liens will include: disclosure of certain construction information; financial mformation as to the seller, the builder and or the contractor; payment of the appropriate premium fully executed Indemnity Agreements satisfactory to the company, and, any additional requirements as may be necessary after an examination of the aforesaid information by the Company. No coverage will be given under any circumstances for labor or material for which the insured has contracted for or agreed to pay. Note: Pursuant to CRS 10-11-123, notice is hereby given: This notice applies to owner's policy commitments containing a mineral severance instrument exception, or exceptions, in Schedule B, Section 2. A) That there is recorded evidence that a mineral estate has been severed, leased, or otherwise conveyed from the surface estate and that there is a substantial likelihood that a third party holds some or all interest in oil, gas, other minerals, or geothermal energy in the property; and B) That such mineral estate may incfude the right to enter and use the propeny without the surface owner's permission. Note: Pursuant to CRS 10-l-128(6)(a), It is unlawful to knowingly provide false, incomplete, or misleading facts or information to an insurance company for the purP.ose of defrauding or attempting to defraud the company. Penalties may include imprisonment, fines, denial or insurance, and civil damages. Any insurance company or agent of an insurance company who knowingly proviiles false, incomplete, or ffilsleading facts or information to a P.Olicyholder or claimant for the purpose of defrauding or attempting to defraud the policyholder or claimant with regard to a settlement or award payafile from insurance proceeds shall be reported to the Colorado division of insurance within the department of regulatory agencies. Nothing herein contained will be deemed to obligate the company to provide any of the coverages referred to herein unless the above conditions are fully satisfied. DISCLOSURE 02/2011 First American Title Insurance Company PRIVACY POLICY We are Committed to Safeguarding Customer Information In order to better serve your needs now and in the future, we may ask you to provide us with certain information. We understand that you may be concerned about what we will do with such information - particularly any personal or financial information. We agree that you have a right to know how we will utilize the personal information you provide to us. Therefore, together with our parent company, the First American Corporation, we have adopted this Privacy Policy to govern the use and handling of your personal information. Applicability This Privacy Policy governs our use of the information which you provide to us. It does not govern the manner in which we may use information we have obtained from any other source, such as information obtained from a public record or from another person or entity. First American has also adopted broader guidelines that govern our use of personal information regardless of its source. First American calls these guidelines its Fair Information Values, a copy of which can be found on our website at www.firstam.com. Types of Information Depending upon which of our services you are utilizing, the types of nonpublic personal information that we may collect include: * Information we receive from you on applications, forms and in other communications to us, whether in writing, in person, by telephone or any other means; * Information about your transactions with us, our affiliated companies, or others; and * Information we receive from a consumer reporting agency. Use of Information We request information from you for our own legitimate business purposes and not for the benefit of any nonaffiliated party. Therefore, we will not release your information to nonaffiliated parties except: (1) as necessary for us to provide the product or service you have requested to us; or (2) as permitted by law. We may, however, store such information indefinitely, including the period after which any customer relationship has ceased. Such information may be used for any internal purpose, such as quality control efforts or customer analysis. We may also provide all of the types of nonpublic personal information listed above to one or more of our affiliated companies. Such affiliated companies include financial service providers, such as title insurers, property and casualty insurers, and trust and investment advisory companies, or companies involved in real estate services, such as appraisal companies, home warranty companies, and escrow companies. Furthermore, we may also provide all the information we collect, as described above, to companies that perform marketing services on our behalf, on behalf of our affiliated companies, or to other financial institutions with whom we or our affiliated companies have joint marketing agreements. Former Customers Even if you are no longer our customer, our Privacy Policy will continue to apply to you. Confidentiality and Security We will use our best efforts to ensure that no unauthorized parties have access to any of your information. We restrict access to nonpublic personal information about you to those individuals and entities who need to know that information to provide products or services to you. We will use our best efforts to train and oversee our employees and agents to ensure that your information will be handled respnsibly and in accordance with this Privacy Policy and First American's Fair Information values. We currently maintain physical, electronic, and procedural safeguards that comply with referral regulations to guard your nonpublic personal information. WEBSITE Information on the calculation of premiums and other title related charges are listed at First American's website: www.firstam.com NOTICE OF PRIVACY POLICY OF LAND TITLE GUARANTEE COMPANY, INC., A COLORADO CORPORATION AND MERIDIAN LAND TITLE, L.L.C., A COLORADO LIMITED LIABLITY COMPANY, D/B/A LAND TITLE GUARANTEE COMPANY -GRAND JUNCTION This Statement is provided to you as a customer of Land Title Guarantee Company, a Colorado corporation and Meridian Land Title, LLC, d/b/a Land Title Guarantee Company -Grand Junction. We want you to know that we recognize and respect your privacy expectations and the requirements of federal and state privacy laws. Information security is one of our highest priorities. We recognize that maintaining your trust and confidence is the bedrock of our business. We maintain and regularly review internal and external safeguards against unauthorized access to non-public personal information ("Personal Information"). In the course of our business, we may collect Personal Information about you from: * applications or other forms we receive from you, including communications sent through TMX, our web-based transaction management system; * your transactions with, or from the services being performed by, us, our affiliates, or others; * a consumer reporting agency, if such information is provided to us in connection with your transaction; and * the public records maintained by governmental entities that we either obtain directly from those entities, or from our affiliates and non-affiliates. Our policies regarding the protection of the confidentiality and security of your Personal Information are as follows: * We restrict access to all Personal Information about you to those employees who need to know that information in order to provide products and services to you. * We maintain physical, electronic and procedural safeguards that comply with federal standards to protect your Personal Information from unauthorized access or intrusion. * Employees who violate our strict policies and procedures regarding privacy are subject to disciplinary action. * We regularly assess security standards and procedures to protect against unauthorized access to Personal Information. WE DO NOT DISCLOSE ANY PERSONAL INFORMATION ABOUT YOU WITH ANYONE FOR ANY PURPOSE THAT IS NOT PERMITTED BY LAW. Consistent with applicable privacy laws, there are some situations in which Personal Information may be disclosed. We may disclose your Personal Information when you direct or give us permission; when we are required by law to do so, for example, if we are served a subpoena; or when we suspect fraudulent or criminal activities. We also may disclose your Personal Information when otherwise permitted by applicable privacy laws such as, for example, when disclosure is needed to enforce our rights arising out of any agreement, transaction or relationship with you. Our policy regarding dispute resolution is as follows. Any controversy or claim arising out of or relating to our privacy policy, or the breach thereof, shall be settled by arbitration in accordance with the rules of the American Arbitration Association, and judgment upon the award rendered by the arbitrator(s) may be entered in any court having jurisdiction thereof. Fann PRIV.POL.LTG.1 Commitment for Title Insurance ISSUED BY First American Title Insurance Company FIRST AMERICAN TITLE INSURANCE COMPANY, a California corporation ("Company"), for a valuable consideration, commits to issue its policy or policies of title insurance, as identified in Schedule A, in favor of the Proposed Insured names in Schedule A, as owner or mortgage of the estate or interest in the land described or referred to in Schedule A, upon payment of the premiums and charges and compliance with the Requirements; all subject to the provisions of Schedules A and B and to the Conditions of this Commitment. This Commitment shall be effective only when the identity of the Proposed Insured and the amount of the policy or policies committed for have been inserted in Schedule A by the Company. Al 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 wil provide a sample of the policy form upon request. This Commitment shall not be valid or binding until countersigned by a validating officer or authorized signatory. IN WITNESS WHEREOF, First American Title Insurance Company has caused its corporate name and seal to be affixed by its duly authorized officers on the date shown in Schedule A. CONDITIONS 1. The term mortgage, when used herein, shal include deed of trust, trust deed, or other security instrument. 2. If the proposed Insured has or acquired actual knowledge of any defect, lien, ericumbrance, 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 liabitity 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 knowtedge to the Company, or if the Company otherwise acquires actual knowledge of any such defect, lien encumbrance, adverse claim or other matter, the Company at its option may amend Schedule B of this Commitment accordingly, but such amendment shall not relieve the Company from liability previously incurred pursuant to paragraph 3 of these Conditions and Stipulations. 3. Liability of the Company ooder this Commitment shall be only to the named proposed Insured and such parties included under the definition of the Insured in the form of policy or policies committed for and only for actual loss incurred in reliance hereon in undertaking in good faith (a) to comply with the requirements hereof, or (b) to eliminate exceptions shown in Schedule B, or (c) to acquire or create the estate or interest or mortgage thereon covered by this Commitment. In no event shall such liability exceed the amount stated in Schedule A for the policy or policies committed for and such liability is subject to the insuring provisions and Conditions and Stipulations and the Exclusions from Coverage of the form of policy or policies committed for in favor of the proposed Insured which are hereby incorporated by refererice and are made a part of this Commitment except as expressly modified herein. 4. This Commitment is a contract to issued one or more title insurance policies and is not an abstract of title or a report of the condition of title. Any action or actions or rights of action that the proposed Insured may have or may bring against the Company arising out of the status of the title to the estate or interest or the status of the mortgage thereon covered by this Commitment must be based on and are subject to the provisions of this Commitment. 5. The policy to be issued contains an arbitration clause. Al arbitrable matters when the Amount of Insurance is $2,000,000 or less shall be arbitrated at the option of either the Company or the Insured as the exclusive remedy of the parties. You may review a copy of the albitration rules as www.alta.org Issued by: LAND TITLE GUARANTEE COMPANY 3033 EAST FIRST A VENUE SUITE 600 PO BOX 5440 (80217) DENVER, CO 80217 FIRST AMERICAN TITLE INSURANCE COMPANY Dennis J. Gilmore President ~~ Timothy Kemp Secretllry AMFRlC:AN LAND TITLE A'lSOCJATION When Recorded. Return to: Carolyn S. Nachmias Nachmias Morris & Alt. P.C. 605 Main Street. Suite 212 Riverton. NJ 08077 AMENDMENT TO EASEMENT AGREEMENT This Amendment to Easement Agreement (this "Amendment") is entered into this __ day of , 2014, by and between MARY ALICE MALONE, AS TRUSTEE UNDER AGREEMENT OF MARY ALICE MALONE DATED APRIL I 7, I 990, AS AMENDED ("Malone Trust"), ROCKLEDGE REAL EST A TE LLC, a Colorado limited liability company ("Rockledge LLC"), STEVEN R. COVALT, AS TRUSTEE FOR THE CME VAIL QPR TRUST ("CME Vail QPR Trust"), and GARY ROSENBACH and SUSAN ROSENBACH (the "Rosenbachs"). The above-named parties are collectively referred to herein as the "Parties". RECITALS: A. WHEREAS, Malone Trust, Bennett Dorrance as Trustee for the Bennett Dorrance Trust Dated April 2 I, 1989, as amended ("Dorrance Trust"), Vernon Taylor, Jr., and CME Vail QPR Trust (the "Original Parties") were parties to a certain Easement Agreement and Termination of Declaration, Covenants and Road Maintenance Agreement (the "Original Agreement") dated February 29, 2000 and recorded on March 29, 2000 at Reception Number 725778 in the office of the Eagle County Clerk and Recorder, County of Eagle, State of Colorado (the "County Clerk"). B. WHEREAS, pursuant to the Original Agreement, the Original Parties agreed to, inter alia, provide for certain easements concerning Lot 2 (as described on Exhibit A-I attached hereto), Lot 3A (as described on Exhibit A-2 attached hereto), Lot 38 (as described on Exhibit A-3 attached hereto), Lot 4 (as described on Exhibit A-4 attached hereto), Lot 7 (as described on Exhibit A-5 attached hereto), and Lot 8A (as described on E._xhibi!A".'§ attached hereto), and more particularly agreed that a certain driveway ("Driveway") extending from Lot 8A through Lots 7 and 4 and to Lots 3A and 3B would be installed, its maintenance would be paid for by certain of the Original Parties, and Lot 2 would have an access easement across Lots 3A and 3B, 4, 7 and 8A; C. WHEREAS, at the time that the Original Agreement was executed, Malone Trust owned the above-referenced Lot 2, Dorrance Trust owned the above-referenced Lots 3A and 3B, Vernon Taylor, Jr. owned the above-referenced Lots 4 and 7, and CME Vail QPR Trust owned the above-referenced Lot 8A. Since the execution of the Original Agreement, the Rosenbachs have become the owners of the above-referenced Lot 4 and Lot 7, and Rockledge LLC has become the owner of the above-referenced Lot 3A and Lot 3B. All other above-referenced lots have remained owned by the same owners as previously described herein; and 00038734.3 D. WHEREAS, the Parties now desire to amend the Original Agreement so as to recognize that Lot 3A and Lot 38 have been, or are about to be, consolidated into a single Lot 3; to terminate the Driveway easement granted to Lot 2, and to terminate any Driveway maintenance payment or other obligation that may be deemed owing by Lot 2 pursuant to the Original Agreement; and to allow the owner of Lot 4 to relocate that portion of the Driveway as is situated on Lot 4; NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties agree to the following amendments to the Original Agreement: I. Terms. Capitalized terms in this Amendment will have the same meanings as in the Original Agreement, unless otherwise defined herein. To the extent that the terms and provisions of this Amendment conflict with, modify or supplement portions of the Original Agreement, the terms and provisions contained in this Amendment shall govern and control the rights and obligations of the Parties. All references to the "Agreement" contained in this Amendment and in the Original Agreement shall hereinafter be deemed to refer to the Original Agreement, as modified and amended by this Amendment. 2. Acknowledgement of Abandonment of Lot 3A/38 Lot Line. The Parties acknowledge that the lot line separating Lot 3A from Lot 38 is being abandoned or has been abandoned and that Lot 3A and Lot 38 are now, or shall be, a single Lot 3, which is more particularly described on Exhibit 8 attached hereto. All references to Lot 3A and/or Lot 38 in the Original Agreement shall hereinafter be deemed to refer to Lot 3. 3. Termination of Lot 2's Access Easement and Right to Driveway Usage. a. Section 2(a) of the Original Agreement is hereby amended to remove every reference to Lot 2 and Malone Trust. The Parties hereby acknowledge and agree that neither Malone Trust nor any owner of Lot 2 nor any of Lot 2's owner's successors or assigns shall have any right to, interest in, or benefit from the Lot SA South Easement Premises. b. Section 3 of the Original Agreement is hereby amended to remove every reference to Lot 2 and Malone Trust. The Parties hereby acknowledge and agree that neither Malone Trust nor any owner of Lot 2 nor any of Lot 2's owner's successors or assigns shall have any right to, interest in, or benefit from the Lot 4 Easement Premises or the Lot 7 Easement Premises. c. Section 4 of the Original Agreement is hereby deleted in its entirety. The Parties acknowledge and agree that the perpetual, non-exclusive easement and right of way that had been granted to Malone Trust and its successors and assigns, for the benefit of Lot 2 over, upon, across and through a certain portion of Lot 3, referred to in the Agreement as the Lot 3A Easement Premises and the Lot 38 Easement Premises, for the purposes of ingress and egress to and from, and utility service to, Lot 2, is hereby terminated in its entirety and 00038734.3 2 ofno further force or effect. Neither Malone Trust nor any owner of Lot 2 nor any of Lot 2's owner's successors or assigns shall have any right to enter upon any part of Lot 3 for any purpose pursuant to the Agreement. d. Section 5(a) of the Original Agreement is hereby amended to terminate the right and easement of Malone Trust and its trustees, beneficiaries, successors-in-title, and Guests and any right and easement of the owner of Lot 2 and its trustees, beneficiaries, successors-in-title, and Guests to use the Driveway and to use any gate installed on or about the Driveway. The Parties acknowledge and agree that the Driveway Easement Premises shall no longer serve as easements or rights of way for Malone Trust or the owner of Lot 2 or any of their trustees, beneficiaries, successors-in-title, or Guests. The Parties further acknowledge and agree that neither Malone Trust nor the owner of Lot 2 nor any of their trustees, beneficiaries, successors-in-title, or Guests shall have any right to use any of the Driveway Easement Premises for any purpose. The second sentence of Section 5(a) of the Original Agreement is hereby amended to read as follows: The Driveway may be used for purposes of ingress and egress by the owner of Lot 4 (to the extent the Driveway lies within Lots 4, 7 and 8A), by the owner of Lot 7 (to the extent the Driveway lies within Lots 7 and 8A), and by the owner of Lot 3 (to the extent the Driveway lies within Lots 3, 4, 7, and 8A), and their respective trustees, beneficiaries, and successors-in-title, and the Guests (defined below) of each of the foregoing, but the Driveway shall not be used for any purpose by the owner of Lot 2 or such owner's trustees, beneficiaries, successors-in-title, or Guests. The fourth sentence of Section 5(a) of the Original Agreement is hereby amended to read as follows: The owner of Lot 3 shall have the right to install a gate across the Driveway at the western boundary of Lot 3. 4. Termination of Lot 2's Driveway Maintenance Payment Obligations. Section 5(c) of the Original Agreement is hereby amended to terminate any obligation of the owner of Lot 2 or Malone Trust to contribute to the cost of maintenance and repair of the Driveway. Rockledge LLC and Malone Trust acknowledge and agree that no separate instrument requires that Malone Trust or the owner of Lot 2 contribute to the cost of the maintenance and repair of the Driveway. The Parties acknowledge and agree that neither Malone Trust nor any owner of Lot 2 shall have any obligation to contribute to the cost of maintenance and repair of the Driveway. From and after the date of issuance of any building permit for construction of improvements on Lot 4, the Owner of Lot 4 shall have the obligation to contribute to the Owner of Lot 3 an amount equal to thirty-three and one-third percent (33.333%) of all future costs of maintenance and repair of the portion of the Driveway located within Lots 4, 7 and 8A. 00038734 3 3 5. Blanket Termination of Lot 2's Rights and Obligations Under the Original Agr~~m~nt In addition to those specific provisions set forth above, it is hereby acknowledged and agreed that Malone Trust and Lot 2 shall not be entitled to any rights or benefits, or shall owe any obligations or liabilities, pertaining to the Driveway arising under the Original Agreement or any other easement or license granted under the Agreement, including, but not limited to, the right to undertake any maintenance or improvement of the Driveway. 6. Combination of Lots 3A and 38. One single family home, rather than a duplex structure with two separate residential units, is currently constructed on Lot 3A and Lot 38. Rockledge LLC intends to vacate the lot line between Lots 3A and 38 in the near future, and after such vacation, notwithstanding Section 9(b) of the Original Agreement, any reference in the Original Agreement and this Amendment (except this Section 6) to Lot 3A or Lot 38, or Lots 3A and 38 together, shall be changed to reference Lot 3. 7. Right to Relocate Driveway on Lot 4. The owner of Lot 4 shall have the right to relocate and/or realign the Driveway within Lot 4 in a manner that (I) does not interfere with use and enjoyment by the owner of Lot 3 and its Guests of the easement rights granted by this Agreement, (2) preserves a passable width of the Driveway not less than 12 feet, and (3) preserves the existing location of the point of connection of the Driveway at the boundary between Lot 3 and Lot 4. In the event of such relocation or realignment, the owner of Lot 4 agrees to prepare and record, at its expense, any documents necessary to accomplish such relocation or realignment. The owner of Lot 4 shall pay all expenses of relocating and/or realigning the Driveway. 8. No Further Modification; Integration. Except as expressly provided in this Amendment, the Original Agreement is in full force and effect and unmodified. The Original Agreement, as modified by this Amendment, constitutes the entire understanding between Parties with respect to the subject matter hereof, and the Parties shall not be bound by any agreements, understandings or conditions respecting the subject matter hereof, whether oral or written, other than those expressly set forth and stipulated in the Original Agreement, as modified by this Amendment. All exhibits attached to this Amendment, and the Recitals to this Amendment, are hereby incorporated by reference. 9. Co1rn!t:!_mfil1Ji. This Amendment may be executed in counterparts which when taken together shall constitute the entire agreement of the Parties. I 0. Recordation. This Amendment shall be recorded with the County Clerk by Rockledge LLC within 30 days after the full execution hereof by the Parties, at Rockledge LLC's sole cost and expense. [Signatures Follow] 00038734.3 4 IN WITNESS WHEREOF the Parties hereto have executed this Amendment on the day and the date above written. STATE OF ----- COUNTY OF ----- MALONE TRUST: MARY ALICE MALONE, as Trustee under Agreement of Mary Alice Malone dated April 17, 1990, as amended The foregoing instrument was acknowledged before me on this _ day of ____ _ 2014, by Mary Alice Malone, as Trustee under Agreement of Mary Alice Malone dated April 17, 1990, as amended. My Commission Expires: _____ ,20_ Notary Public [Signatures to Amendment to Easement Agreement Continued on Next Page] 00038734.3 5 [Signatures to Amendment to Easement Agreement Continued.from Prior Page} STATE OF ----- COUNTY OF ----- ROCKLEDGE LLC: ROCKLEDGE REAL EST A TE LLC, a Colorado limited liability company By: ______________ _ Name: _______________ _ Title: _______________ _ The foregoing instrument was acknowledged before me on this _ day of ____ _ 2014, by , on behalf of Rockledge Real Estate LLC, a Colorado limited liability company. My Commission Expires: _____ ,20 Notary Public [Signatures to Amendment to Easement Agreement Continued on Next Page} 00038734.3 6 [Signatures to Amendment to Easement Agreement Continued.from Prior Page} STATE OF ----- COUNTY OF ---- STEVEN R. COY ALT, as Trustee For The CME Vail QPR Trust The foregoing instrument was acknowledged before me on this _ day of ___ _ 2014, by STEVEN R. COVALT, as Trustee for the CME Vail QPR Trust. My Commission Expires: ______ ,20~ Notary Public [Signatures to Amendment to Easement Agreement Continued on Next Page} 00038734 3 7 [Signatures to Amendment to Easement Agreement Continued from Prior Page] ROSENBACHS: GARY ROSENBACH SUSAN ROSENBACH STATE OF ____ _ COUNTY OF ---- The foregoing instrument was acknowledged before me on this _ day of ___ _ 2014, by GARY ROSENBACH and SUSAN ROSENBACH. My Commission Expires: ______ ,20~ 00038734 3 Notary Public 8 00038734.3 Exhibit A-1 Legal Description of Lot 2 (Currently Owned by Malone Trust) Lot 2. according to the Final Plat of a Replat of a portion of Block 7 Vail Village First Filing. and Lot 2 of Raether Minor Subdivision, recorded at Reception No. 722440 of the records of the Eagle County Clerk and Recorder, County of Eagle, State of Colorado. 00038734.3 Exhibit A-2 Legal Description of Lot 3A (Currently Owned by Rockledge LLC) Lot 3A, according to the Final Plat of a Replat of a portion of Block 7 Vail Village First Filing, and Lot 2 of Raether Minor Subdivision, recorded at Reception No. 722440 of the records of the Eagle County Clerk and Recorder, County of Eagle, State of Colorado. 00038734.3 Exhibit A-3 Legal Description of Lot 3B (Currently Owned by Rockledge LLC) lot 3 B, according to the Final Plat of a Rep lat of a portion of Block 7 Vail Village First Filing. and Lot 2 of Raether ~inor Subdivision. recorded at Reception No. 722440 of the records of the Eagle County Clerk and Recorder, County of Eagle, State of Colorado. Exhibit A-4 Legal Description of Lot 4 (Currently Owned by Rosenbachs) Lot 4, Vail Village First Filing, a Resubdivision of Lots 4 and 7, Block 7, according to the Plat recorded April 13, 2007 at Reception No. 200709527 of the records of the Eagle County Clerk and Recorder, County of Eagle, State of Colorado 00038734.3 Exhibit A-5 Legal Description of Lot 7 (Currently Owned by Rosenbachs) Lot 7, Vail Village First Filing, a Resubdivision of Lots 4 and 7, Block 7, according to the Plat recorded April 13, 2007 at Reception No. 200709527 of the records of the Eagle County Clerk and Recorder, County of Eagle, State of Colorado 00038734.3 00038734.3 Exhibit A-6 Legal Description of Lot 8 (Currently Owned by CME Vail QPR Trust) Lot 8A, according to the Final Plat of a Replat ofa portion of Block 7 Vai1 Village First Filing, and Lot 2 of Raether .Minor Subdivision, recorded at Reception No. 722440 of the records of the Eagle County Clerk and Recorder. County of Eagle, State of Colorado. Exhibit B Legal Description of New Lot 3 00038734.2