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Home My WebLink AboutADM140011 ADMINISTRATIVE ACTION FORM Department of Community Development 75 South Frontage Road Vail, CO 81657 tel: 970-479-2138 fax: 970-479-2452 web: www.vailgov.com Project Name: Application Type:DupSubPl ADM Number: ADM140011 Parcel: 2099-182-1800-8 2099-182-1800-7 Project Description:Duplex Plat Participants: OWNER RONNING, W.D. 10/07/2014 5074 B MAIN GORE DR VAIL, CO 81657 APPLICANT GORE RANGE SURVEYING 10/07/2014 Phone: 970-479-8698 SAM ECKER PO BOX 15 AVON CO 81620 Project Address:5074 MAIN GORE DR SOUTH VAILLocation: Legal Description: Lot: 5 Block: 18 Subdivision: VAIL MEADOWS FIL 1 Comments:See Conditions BOARD/STAFF ACTION Motion By: Action: PLAN CK Second By: Vote: Date of Approval: 10/24/2014 Meeting Date: Conditions: Cond: 8 (PLAN): No changes to these plans may be made without the written consent of Town of Vail staff and/or the appropriate review committee(s). Planner:Joe Batcheller DRB Fee Paid: $100.00 OR, - TOWN OF VAIL.� Department of Community Development 75 South Frontage Road Vail, CO 81657 Tel: 970 -479 -2128 www.vailgov.com Development Review Coordinator Administrative Application Duplex Subdivisions General Information: The required approval for a duplex subdivision or resubdivision of an improved duplex lot and structure will require town approval through the administrator, subject to review by other Town of Vail departments. No duplex subdivision shall be approved unless the lots are improved with at least foundations for both units existing at the time of submittal. Please see Section 13 -8, Duplex Subdivisions, Vail Town Code for more detailed information. Vail Town Code can be found on the Town's website at www.vailgov.com. Fee: $100 Recording Fees: Please visit the Eagle County website htti):// www .eaalecounty.us /Clerk/Recording /Record a Document/ for the most up -to -date recording fees and check with your planner prior to submitting the payment. A check written out to the Eagle County Clerk and Recorder is required to be submitted once the plat has been approved by the Planning and Environmental Commission and prior to the recording of the plat. Description of the Request: Duplex Plat Physical Address: 5074 Main Gore Drive Parcel Number: 2099- 182 -18- 007 & 2099- 182 -18 -008 (Contact Eagle Co. Assessor at 970 - 328 -8640 for parcel no.) Property Owner: 5074A Main Gore Drive LLC & Wesley Duane Ronning Living Trust Mailing Address: 4000 S. Cherry St. Englewood, CO 80113 & 5074B Main Gore Drive, Vail, CO 81657 Owner's Signature: Primary Contact / Owner Representative: Sam Ecker Mailing Address: PO Box 15, Avon, C081620 Phone: Phone: 970-479 -8698 E -Mail: sam @gorerange.net Fax: For Office Use Only: Cash Fee Paid: A) — Meeting Date: Planner: CC: Visa / MC Last 4 CC # Auth # Check # 6L/ Received From: (%/0 1 S44 4_d '!w ADM No.: _ , + 40o I I Project No: I D j�4 Q Zoning: Land Us / Location of the Proposal: Lot: _ Block: Subdivision: VC. k Mp C,.�nL_i5 2013 -0305 ►owr af ra' �ii J ant of 110 t � ad 0� Tai: 07041WSISS www. 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WESLEY DUANE RONNING LIVING TRUST dated February 13, 2013 ( "the RonningTrust ") and 5074A MAIN GORE DRIVE LLC ( "the 5074A LLC ") (together, "Declarants ") are the owners of the real property situate in the Town of Vail, County of Eagle, State of Colorado, described as Lot 5, Block 1, Vail Meadows Filing No. 1, (the "Lot "), according to the Plat recorded December 9, 1996, at Reception No. 105077, in the records of the Eagle County Clerk and Recorder. 2. In accordance with a document titled TOWNHOUSE DECLARATION FOR LOT 5, BLOCK 1, VAIL MEADOWS FILING NO. 1, TOWN OF VAIL, EAGLE COUNTY, COLORADO recorded in Book 306 at Page 805, at Reception No. 203188, in the records of the Eagle County Clerk and Recorder, the Lot was divided into two separate estates as follows: Unit A consisting of Parcel A, together with all improvements thereon (sometimes herein called an "apartment," all easements and rights -of -way appurtenant thereto as provided herein and an undivided one/half interest in and to Parcel C, together with the easements and rights -of -way appurtenant thereto ( "the 5074 LLC Unit," "Parcel A "). Unit B consisting of Parcel B, together with all improvements thereon (sometimes herein called an "apartment "), all easements and rights -of -way appurtenant thereto as provided herein and an undivided one -half interest in and to Parcel C, together with the easements and rights -of -way appurtenant thereto ( "the Ronning Trust Unit," "Parcel B "). 3. Declarants desire to and do hereby establish a new plan for the ownership of the Lot, by establishing separate ownership and rights and obligations related and appurtenant to Parcels A and B, including Parcel C as a part of Parcel A and Parcel B, as depicted and identified on a plat recorded simultaneously herewith under Reception No. DECLARATION I. ESTABLISHMENT OF COVENANTS AND REPEAL OF EXISTING COVENANTS. Declarants do hereby publish and declare that the following terms, covenants, conditions, easements, restrictions, uses, reservations, limitations and obligations shall be deemed to run with the land described herein, shall be a burden and a benefit to Declarants, their personal representatives, heirs, successors and assigns and any person acquiring or owning an interest in the real property which is described herein and improvements built thereon, their grantees, personal representatives, heirs, successors and assigns. This document is intended to and shall have the effect of repealing in its entirety and relieving the subject property of the burden of that document recorded in the office of the Eagle County Clerk and Recorder in Book 306 at Page 805, at Reception No. 203188. 11. DEFINITIONS. Unless the context shall expressly provide otherwise, the following terms shall have the following meanings: A. "The Properties" or "the Lot" means all of the real estate legally described as Lot 5, Block 1, Vail Meadows Filing No. 1, (the "Lot "), according to the Plat recorded December 9, 1996, at Reception No. 105077, in the records of the Eagle County Clerk and Recorder. B. "Parcel' means either Parcel A, Lot 5, Block 1, Vail Meadows Filing No. 1, or Parcel B, Lot 5, Block 1, Vail Meadows Filing No. 1, together with the improvements located thereon. C. "Unit" or "Building" means the improvements located on each Parcel. D. "Owner" means a person, persons, firm, corporation, partnership, trust or association, or other legal entity, or any combination thereof, owning an interest in the Parcels. E. "Plat" means the engineering survey of the Properties, recorded at Reception No. of the Records of the Eagle County Clerk and Recorder, depicting and locating the Parcels with specificity thereon. 111. DESCRIPTION AND RESERVATION. Every contract of Sale, Deed, Lease, Mortgage, Trust Deed, Will or other instrument shall legally describe a Unit as follows: Parcel A or Parcel B (as the case may be), Resubdivision of Lot 5, Block 1, Vail Meadows Filing No. 1, Town of Vail, County of .Eagle and State of Colorado, according to the Plat recorded under Reception No. Every such description shall be good and sufficient for all purposes to sell, convey, transfer, encumber or otherwise affect the Parcels and all appurtenant rights, benefits and burdens 2 thereto as created by the provisions of this Declaration, and each such description shall be so construed. This provision shall apply to the Properties as said term is defined in this Declaration. IV. PROPERTY DIVISION. A. Declarants hereby establish this plan for the subdivision of the Properties into two (Z) Parcels for ownership in fee simple consisting of Parcel A and Parcel B. B. In the event Parcel A and Parcel B are owned by the same person or entities, the doctrine of merger shall not apply. C. The parties, if more than one, having the ownership of each such Parcel shall agree among themselves how to share the rights and obligations of such ownership; provided, however, that if a corporation, partnership, association or other legal entity shall become an Owner or the parties, if more than one, have the concurrent ownership of a Unit, then such entity or concurrent Owners shall from time to time designate one individual who shall represent such entity or concurrent Owners in all matters concerning all rights and obligations pursuant to this Declaration. D. Any such entity or concurrent Owners shall give written notice to the other Owner designating the individual to act on its or their behalf and such notice shall be effective until revoked in writing by such entity or Owners. Any act or omission by such designated individual shall be binding on the entity or Owners having designated him in favor of the other Owner or any person who may rely thereon. E. Each Parcel shall be considered a separate parcel of real property and shall be separately assessed and taxed. V. ENCROACHMENTS. If any portion of the improvements associated with Parcel A or Parcel B now encroaches upon the other Parcel, or if any such encroachment shall occur hereafter as a result of settling or movement of any Building, a valid easement for the encroach- ment and the maintenance of the same so long as the Building stands, shall exist. In the event any Building shall be partially or totally destroyed as a result of fire or other casualty or as a result of condemnation or eminent domain proceedings and then rebuilt, encroachments of parts of the Building on the other Parcel, due to such rebuilding, shall be permitted, so long as such encroachments are of no greater extent than those previously existing, and valid easements for such encroachments and the maintenance thereof shall exist so long as the Building shall stand. VI. PARTY WALL. A. The common wall placed equally divided on the common boundary separating Parcel A from Parcel B, the footings underlying and the portion of roof over such wall are collectively referred to herein as the "Party Wall." B. To the extent not inconsistent with this Declaration, the general rules of law regarding party walls and liability for damage due to negligence, willful acts or omissions shall apply to the Party Wall. C. The Owners of either Unit shall have a perpetual easement in and to that part of the other Unit on which the Party Wall is located, for Party Wall purposes, including mutual support, maintenance, repair and inspection. In the event of damage to or destruction of the Party Wall, the Owners shall at joint expense repair or rebuild said Party Wall, and each Owner shall have the right to the full use of said Party Wall so repaired and rebuilt. If any negligence, willful act or omission of any Owner, his family, agent or invitee, shall cause damage to or destruction of the Party Wall, such Owner shall bear the entire cost of repair or reconstruction, and an Owner who by his negligent or willful act causes the Party Wall to be exposed to the elements shall bear the MI cost of furnishing the necessary protection against such elements. VII. LANDSCAPING AND OUTDOOR IMPROVEMENTS. A. The Owners from time to time shall undertake such landscaping and general outdoor improvements as they may mutually and unanimously deem proper for the harmonious improvement of both Parcels in a common theme, and each Owner shall be solely responsible for all expenses, liabilities and general upkeep responsibilities with respect to such landscaping and outdoor improvements on the Parcel of that Owner. Any trees which die as the result of the construction of any such improvements shall be replaced at the expense of the Owner causing the construction to be done. The Owner of one Parcel shall not unreasonably damage the value of the other Parcel such as by shoddy upkeep outside, but both Owners shall make all reasonable efforts to preserve a harmonious common appearance of the Units. B. Common utility or service connections or lines, common facilities or other equipment and property located in or on either of the Units but used in common with the other Unit, if any, shall be owned as tenants in common by the Owners of each Unit and, except for any expense or liability caused through the negligence or willful act of any Owner, his family, agent or invitee, which shall be borne solely by such Owner, all expenses and liabilities concerned with such property shall be shared proportionately with such ownership. The Owner of the Unit on which such property is not located shall have a perpetual easement in and to that part of such other Unit containing such property as is reasonably necessary for purposes of maintenance, repair and inspection. VIII. ALTERATION, MAINTENANCE AND REPAIRS. A. Each Owner shall be solely responsible for maintenance and repair of the improvements located on that Owner's Parcel, including fixtures and improvements and all utility lines and equipment located therein and serving that Owner's Unit only. In performing such maintenance and repair, or in improving or altering his Unit, no Owner shall do any act or work which impairs the structural soundness or the sound transmission coefficient of either Unit or the Party Wall or which interferes with any easement granted or reserved herein. If any negligence, willful act or omission of any Owner, his family, agent or invitee, shall cause damage to or destruction of the other Owner's Unit or Parcel, such Owner shall bear the entire cost of such maintenance or repair. B. Utility or service connections or lines, facilities or other utility equipment and property located in, on or upon either of the Units, which are used solely to supply a service or utility to one Unit, shall be owned by the Owner of the Unit using such utility or service and all expenses and liabilities for repair and maintenance shall be borne solely by the Owner of such Unit, who shall have a perpetual easement in and to that part of such other Parcel or Unit containing such property as is reasonably necessary for purposes of maintenance, repair and inspection. Utility or service connections or lines, facilities or other utility equipment which serve both Units shall be the responsibility of the Owners of both Parcels, and the expenses associated therewith shall be borne as provided under Article IX below. C. In the event an Owner, at his own expense, fails to maintain and repair his unit, the other Owner may, after 15 days written notice to the Owner, if such failure continues for an additional period of 30 days and if within said time the offending Owner has failed to make a good faith effort to commence the needed maintenance or repair, the non - defaulting owner may cause such repair or maintenance to be done and charge the offending Owner therefor and such cost shall be added to and become a charge and lien upon such Parcel. The Owner hereby grants to the other Owner, its agents and assigns, an irrevocable easement to perform the aforesaid work. D. In the event an Owner, at his own expense, fails to maintain, preserve and replace as needed, the trees, shrubs and grass (the plantings) within the property boundaries of his Parcel, the other Owner may, after 15 days written notice to the Owner, if such failure continues and if within said time the offending Owner has failed to make a good faith effort to bring his plantings into substantial conformity, the non - defaulting owner may contract with responsible parties to bring to standard the offending Owner's plantings and charge the offending Owner therefor and such cost shall be added to and become a charge and lien upon such Parcel. The Owner hereby grants to the other Owner, its agents and assigns, an irrevocable easement to perform the aforesaid work. E. No Owner shall make or suffer any structural or design change (including a color scheme change), either permanent or temporary and of any type or nature whatsoever, upon any part of his Unit, without first obtaining the prior written consent thereto from the other Owner, which consent shall not be unreasonably withheld or delayed. The Units shall be painted in the same color scheme and at the same time, and both Units shall be maintained in the same manner. In the case of damage or destruction of any Unit or any part thereof by any cause whatsoever, the Owner of such Unit shall cause with due diligence the Unit to be repaired and restored, applying the proceeds of insurance, if any, for that purpose. Such Unit shall be restored to a condition 5 comparable to that prior to the damage and in a harmonious manner to promote the common theme of both Units. IX. ALLOCATION OF EXPENSES. Costs and expenses of any alteration, maintenance and repairs to the Party Wall, except as caused by the negligence or willful act of an Owner, shall be allocated in the following proportions: Parcel A 50% Parcel B 50% X. MECHANIC'S LIENS: INDEMNIFICATION. A. Except for items incurred as a common expense as provided for herein, if any Owner shall cause any material to be furnished to his Parcel or Unit thereon or any labor to be performed therein or thereon, the other Owner shall not under any circumstances be liable for the payment of any expense incurred or for the value of any work done or material furnished; all such work shall be at the expense of the Owner causing it to be done, and such Owner shall be solely responsible to contractors, laborers, materialmen and other persons furnishing labor or materials to his Unit; nothing herein contained shall authorize either Owner or any person dealing through, with or under either Owner to charge the Unit of the other Owner with any mechanic's lien or other lien or encumbrance whatever; and, on the contrary (and notice is hereby given), the right and power to charge any lien or encumbrance of any kind against one Owner or against one Owner's Unit for work done or materials furnished to the other Owner's Unit is hereby expressly denied. B. If, because of any act or omission of either Owner, any mechanic's or other lien or order for the payment of money shall be filed against the other Owner's Unit (whether or not such lien or order is valid or enforceable as such), the Owner whose act or omission forms the basis for such lien or order shall at his own cost and expense cause the same to be cancelled and discharged of record or bonded by a surety company reasonably acceptable to such other Owner, within 20 days after the date of filing thereof, and further shall indemnify and save the other Owner harmless from and against any and all costs, expenses, claims, losses or damages, including reasonable attorney's fees, resulting therefrom. XI. INSURANCE. A. Each Owner shall keep his Unit and all fixtures therein insured against loss or damage by fire and extended coverage perils (including vandalism and malicious mischief) for the maximum replacement value thereof, which amount shall be established by mutual agreement of the Owners. In the event the Owners cannot agree upon the replacement value for purposes of establishing the level of insurance to be obtained, any Owner may on 30 days' written notice, at any time one year or longer after the last appraisal of the Units, obtain a written appraisal of such Units from a competent appraiser, and the cost thereof shall be allocated as set forth in Section IX. Such appraiser shall be a disinterested and independent third party who is unrelated in any manner to either Owner whether through joint business ventures or otherwise. B. Each Owner shall provide and keep in force, for the protection of himself, general public liability and property damage insurance against claims for bodily injury or death or property damage occurring in, on or upon, his Parcel and the improvements thereon, in a limit of not less than S 1,000,000.00 in respect of bodily injury or death to any number of persons arising out of one accident or disaster, or for damage to property, and if higher limits shall at any time be customary to protect against possible tort liability, such higher limits shall be carried and each Owner shall name the other Owner as an additional insured party under such policy. C. Each Owner, upon request of the other Owner, shall deliver to the other Owner certificates evidencing all insurance required to be carried under this article, each containing agreements by the insurers not to cancel or modify the policies without giving the other Owner written notice of at least 30 days. Each Owner shall have the right, upon reasonable request, to inspect and copy all such insurance policies of the other Owner and require evidence of the payment of individual premiums thereon. D. Nothing provided in this paragraph shall prevent the Owners from jointly acquiring a single policy to cover any one or more of the hazards required in this paragraph to be separately insured against by each Owner. E. Each Owner may obtain additional insurance at his own expense for his own benefit provided that all such policies shall contain waivers of subrogation and, provided further, that that the liability of the carriers issuing insurance covering the Units hereunder shall not be adversely affected or diminished by reason of any such additional insurance carried by any Owner. F. Insurance coverage on any personal property items stored within a Unit shall be the responsibility of the Owner thereof. However, nothing herein shall be construed to require such insurance. XII. DESTRUCTION OF IMPROVEMENTS ON PARCEL. A. In the event of damage to or destruction of a Unit by fire or other disaster, the insurance proceeds, if sufficient to reconstruct the Unit, shall be deposited into a bank account which requires, for withdrawals, the signature of both the Owners, unless otherwise required by the insurance carriers, in which event the requirements of the insurance carriers shall establish the method of disbursement. The Owners shall then promptly authorize the necessary repair and reconstruction work and the insurance proceeds will be applied by the Owners to defray the cost thereof. "Repair and reconstruction' of the Units, as used herein, means restoring the improvements to substantially the same condition in which they existed prior to the damage with such Unit having the same boundaries as before. B. If the insurance proceeds are insufficient to repair and reconstruct any damaged Unit, such damage or destruction shall be promptly repaired and reconstructed by the Owner using the insurance proceeds, and the remainder of the cost thereof shall be paid by the Owner of such Unit. C. Notwithstanding the above, the Owners and first mortgagees of any or all of the destroyed or damaged Units may agree that the destroyed or damaged Units shall forthwith be demolished. The cost of such demolition work shall be paid for by any and all insurance proceeds available. Any excess insurance proceeds shall then be disbursed to such Owners and their first mortgagees jointly. XIII. RIGHT TO LIEN. A. If an Owner, at any time, shall neglect or refuse to perform or pay his share of any obligation required hereunder, the other Owner may, but shall not be obligated to, after 20 days written notice unless the circumstances required immediate action, make such payment or, on behalf of such other Owner, expend such sum as may be necessary to perform such obligation including, but not limited to, the payment of any insurance premiums required hereunder or the undertaking of any work required hereunder for repair, reconstruction or maintenance, and such other Owner shall have an easement in and to that part of such defaulting Owner's Unit as is rea- sonably necessary for such repair, reconstruction or maintenance. B. All sums so paid or expended by an Owner, with interest thereon at the rate of 18 percent per annum from the date of such payment or expenditures, shall be payable by the Owner so failing to perform (the "defaulting Owner ") upon demand of the other Owner. C. All sums so demanded but unpaid by the defaulting Owner shall constitute a lien on the Parcel of the defaulting Owner in favor of the other Owner prior to all other liens and encumbrances, except: (i) liens for taxes and special assessments; and (ii) the lien of any first mortgage or first deed of trust of record encumbering such Unit. The lien shall attach from the date when the unpaid sum shall become due and may be foreclosed in like manner as a mortgage on real property upon the recording of a notice of claim thereof executed by the nondefaulting Owner setting forth the amount of the unpaid indebtedness, the name of the defaulting Owner and a description of the Unit. In any such foreclosure or any other collection proceeding the defaulting Owner shall be required to pay the costs and expenses of such proceeding, including reasonable attorney's fees. D. The lien provided for herein shall be subordinate to the lien of any first mortgage or deed of trust, including all additional advances thereon. Sale or transfer of either Unit as the result of court foreclosure or foreclosure through the public trustee, or any proceeding in lieu of foreclosure, shall extinguish the lien provided for herein, but shall not relieve any former Owner of personal liability therefor. The first mortgagee of such Unit who acquires title by way of C foreclosure or the taking of a deed in lieu of foreclosure shall not, however, be liable for any past due amounts or obligations due hereunder and shall only become liable for future amounts and/or obligations on the date it becomes the Owner of such Unit. No sale or transfer shall relieve such Unit from liability for the lien provided for herein. In the event of the sale or transfer of a Unit with respect to which sums shall be unpaid by a defaulting Owner, except transfers to a first mortgagee in connection with a foreclosure of its lien or a deed in lieu thereof, the purchaser or other transfer of an interest in such Unit shall be jointly and severally liable with the seller or transferor thereof for any such unpaid sums. E. Upon written request of an Owner, mortgagee, prospective mortgagee, purchaser or other prospective transferee of a Unit, the Owner of the other Unit shall issue a written statement setting forth the amount he is owed under this paragraph, if any, with respect to such Unit. Such statement is binding upon the executing Owner in favor of any person who may rely thereon in good faith. Unless a request for such statement shall be complied with within fifteen days after receipt thereof, all unpaid sums which became due prior to the date of making such request shall be subordinated to the lien or other interest of the person requesting such statement. XIV. USE RESTRICTIONS. A. Each Unit shall be restricted to a residential dwelling as a permitted use, including use as a rental Unit, as well as conditional and accessory uses, as defined and permitted by the Town of Vail Zoning Regulations. B. No exterior mounted radio, shortwave, television dish or other type of antenna whatsoever or tank of any kind, either elevated or buried, or clothesline or incinerator of any kind whatsoever or outside storage of any personal property, shall be permitted or maintained on either Unit without the prior written approval of both Owners. C. No animals shall be kept in either Unit, except that dogs, cats or other household pets may be kept provided that they are not kept, bred or maintained for any commercial purposes and provided further that they do not unreasonably interfere with the quiet enjoyment of the Unit of the other Owner. D. No advertising signs (except one "For Rent' or "For Sale" sign of not more than three (3) square feet per Unit, if allowed by the Town of Vail), billboards, unsightly objects or nuisances shall be erected, placed or permitted to remain on the properties, nor shall either Unit be used in any way or for any purpose which may endanger the health or unreasonably disturb the Owner or occupant of the other Unit or create an extraordinary insurance risk or hazard. E. All rubbish, trash or garbage shall be regularly removed from each Parcel and shall not be allowed to accumulate thereon. F. Parking of boats, trailers, campers, motor homes, ATVs or recreational vehicles on either Parcel is expressly prohibited with the exception of parking of such vehicles by the guests or invitees of an Owner for not more than a 48 hour period. G. An Owner shall do no act nor any work that will impair any easement or hereditament, nor do any unreasonable act or unreasonably allow any condition to exist which will adversely and materially affect the other Unit. H. No "time sharing," "interval ownership" or similar interest, whereby ownership of a Unit is shared by Owners on a time basis, shall be established on either Unit without the prior written approval of both Owners and all lienors holding a first mortgage or first deed of trust of record, which approval shall be reflected in a document of record. XV. NOTICE. Each Owner shall register its mailing address with the other Owner and all notices or demands intended to be served upon Owners shall be sent by certified mail, postage prepaid, addressed in the name of the Owner at such registered mailing address. In the alternative, notice may be delivered, if in writing, personally to Owners. XVI. DURATION OF DECLARATION. This Declaration shall continue and remain in full force and effect until January 1, 2035, and thereafter for successive periods of 10 years each; unless this Declaration is terminated by recorded instrument, directing termination, signed by all Owners and all lienors holding a first mortgage or first deed of trust of record on any portion of Parcel A or Parcel B. XVII. AMENDMENT OR REVOCATION. This Declaration may be amended or revoked only upon unanimous written approval in recordable form of all Owners and all lienors holding a first mortgage or first deed of trust of record on any portion of Parcel A or Parcel B. XVIII. EFFECT OF PROVISIONS OF DECLARATION. Each provision of this Declaration, and agreement, promise, covenant and undertaking to comply with each provision of this Declaration, and any necessary exception or reservation or grant of title, estate, right or interest to effectuate any provision of this Declaration: (i) shall be deemed incorporated in each deed or other instrument by which any right, title or interest in any portion of Parcel A or Parcel B is granted, devised or conveyed, whether or not set forth or referred to in such deed or other instrument; (ii) shall, by virtue of acceptance of any right, title or interest in any portion of Parcel A or Parcel B by an Owner, be deemed accepted, ratified, adopted and declared as a personal covenant of such Owner and, as a personal covenant, shall be binding on such Owner and his heirs, personal representatives, successors and assigns; and, shall be deemed a personal covenant to, with and for the benefit of each Owner of any portion of Parcel A or Parcel B; and (iii) shall be deemed a real covenant by Declarants, for themselves, their heirs, personal representatives, successors and assigns, and also an equitable servitude, running, in each case, as a burden with and upon the title to each and every portion of Parcel A and Parcel B. 10 XIX. ENFORCEMENT AND REMEDIES. A. Each provision of this Declaration shall be enforceable by any Owner by a proceeding for a prohibitive or mandatory injunction or by a suit or action to recover damages. If court proceedings are instituted in connection with the rights of enforcement and remedies provided in this Declaration, the prevailing party shall be entitled to recover its costs and expenses in connection therewith, including reasonable attorney fees. Any other dispute between the parties shall be resolved by arbitration by the Judicial Arbiter Group, Inc., of Denver, Colorado, or by such other arbitration panel as is agreed to by the parties. If the parties are unable to agree on the individual arbitrator, the panel of arbitrators shall designate one of their panelists as arbitrator, using any method they deem appropriate. In the event of any litigation or arbitration arising out of this Agreement, the prevailing party shall be entitled to an award of its reasonable attorney's fees incurred in the litigation or arbitration. B. Each Owner hereby agrees that any and all actions in equity or at law which are instituted to enforce any provisions hereunder shall be brought in and only in the District Court of Eagle County, State of Colorado. C. Failure to enforce any provision of this Declaration shall not operate as a waiver of any such provision, the right to enforce such provision thereafter, or of any other provision of this Declaration. XX. EX.ERCISE OF RIGHTS. Any exercise of any rights granted hereunder by one Owner with respect to the other Owner's Unit including but not limited to the use of any easement granted herein shall be exercised in a manner which shall not unreasonably hinder, impede or impose upon such other Owner's use of his Unit. XXI. SUCCESSORS AND ASSIGNS. Except as otherwise provided herein, this Declaration shall be binding upon and shall inure to the benefit of Declarant and each Owner and the heirs, personal representatives, successors and assigns of each. XXII. SEVERABILITY. Invalidity or unenforceability of any provisions of this Declaration in whole or in part shall not affect the validity or enforceability of any other provision or any valid and enforceable part of a provision of this Declaration, which shall remain in full force and effect. XXIII. CAPTIONS. The captions and headings in this instrument are for convenience only and shall not be considered in construing any provisions of this Declaration. XXIV. CONSTRUCTION. When necessary for proper construction, the masculine of any word used in this Declaration shall include the feminine or neuter gender, and the singular the plural, and vice versa. 11 IN WITNESS WHEREOF Declarants have executed this Declaration this day of , 2014. Wesley Duane Ronning Living Trust Dated February 13. 2013 5074 Main Gore Drive LLC By: Michael Barney, Manager STATE OF COLORADO ) ) SS COUNTY OF ) The foregoing document was acknowledged before me by _ Wesley Duane Ronning Living Trust dated February 13, 2013, on the 2014. Witness my nand and official seal. My conunission expires: Notary Public STATE OF COLORADO ) ) SS COUNTY OF ) day of as Trustee of the The foregoing document was acknowledged by Michael Barney as Manager of 5074 Main Gore Drive LLC, a Colorado limited liability company, on the day of 2014. Witness my hand and official seal. My commission expires: Notary Public 12 stewart title Stewart Title - Vail P.O. Box 503 97 Main Street, Ste W -201 Edwards, CO 81632 Date: August 11, 2014 File Number: 01330 -45455 Borrower: Wesley Duane Ronning Living Trust Dated February 13, 2013 Property: 5074 Main Gore Drive South, Unit B, Vail, CO 81657 Please direct all Title inquiries to: Linda Williams Phone: (970) 766 -0234 Email Address: Iwilliam3 @stewart.com Wesley Duane Ronning Living Trust Dated February 13, Delivery Method: 2013 Delivery Method: By Agent We Appreciate Your Business and Look Forward to Serving You in the Future. ALTA Commitment (6117/06) ALTA Commitment Form COMMITMENT FOR TITLE INSURANCE Issued by STEWART TITLE GUARANTY COMPANY STEWART TITLE GUARANTY COMPANY, a Texas Corporation ( "Company "), for a valuable consideration, commits to issue its policy or policies of title insurance, as identified in Schedule A, in favor of the Proposed Insured named in Schedule A, as owner or mortgagee of the estate or interest in the land described or referred to in Schedule A, upon payment of the premiums and charges and compliance with the Requirements; all subject to the provisions of Schedules A and B and to the Conditions of this Commitment. This Commitment shall be effective only when the identity of the Proposed Insured and the amount of the policy or policies committed for have been inserted in Schedule A by the Company. All liability and obligation under this Commitment shall cease and terminate six months after the Effective Date or when the policy or policies committed for shall issue, whichever first occurs, provided that the failure to issue the policy or policies is not the fault of the Company. The Company will provide a sample of the policy form upon request. This Commitment shall not be valid or binding until countersigned by a validating officer or authorized signatory IN WITNESS WHEREOF, Stewart Title Guaranty Company has caused its corporate name and seal to be affixed by its duly authorized officers on the date shown in Schedule A. Countersigned by: i Stewart Title - Vail P.O. Box 503 97 Main Street, Ste W -201 Edwards, CO 81632 (970) 926 -0230 stewart title guaranty company rEX A$ Copyright 2006-2009 American Land Title Association. All rights reserved. The use of this Form is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association. File No. 01330 -45455 004 -UN ALTA Commitment (6/17/06) Matt Morris President and CEO �� / Denise Secretary AMIRICAN IAltl IIIII n�ua i�nux CONDITIONS 1. The term mortgage, when used herein, shall include deed of trust, trust deed, or other security instrument 2. If the proposed Insured has or acquired actual knowledge of any defect, lien, encumbrance, adverse claim or other matter affecting the estate or interest or mortgage thereon covered by this Commitment other than those shown in Schedule B hereof, and shall fail to disclose such knowledge to the Company in writing, the Company shall be relieved from liability for any loss or damage resulting from any act of reliance hereon to the extent the Company is prejudiced by failure to so disclose such knowledge. If the proposed Insured shall disclose such knowledge to the Company, or if the Company otherwise acquires actual knowledge of any such defect, lien, encumbrance, adverse claim or other matter, the Company at its option may amend Schedule B of this Commitment accordingly, but such amendment shall not relieve the Company from liability previously incurred pursuant to paragraph 3 of these Conditions. 3. Liability of the Company under this Commitment shall be only to the named proposed Insured and such parties included under the definition of Insured in the form of policy or policies committed for and only for actual loss incurred in reliance hereon in undertaking in good faith (a) to comply with the requirements hereof, or (b) to eliminate exceptions shown in Schedule B, or (c) to acquire or create the estate or interest or mortgage thereon covered by this Commitment. In no event shall such liability exceed the amount stated in Schedule A for the policy or policies committed for and such liability is subject to the insuring provisions and Conditions and the Exclusions from Coverage of the form of policy or policies committed for in favor of the proposed Insured which are hereby incorporated by reference and are made a part of this Commitment except as expressly modified herein. 4. This Commitment is a contract to issue one or more title insurance policies and is not an abstract of title or a report of the condition of title. Any action or actions or rights of action that the proposed Insured may have or may bring against the Company arising out of the status of the title to the estate or interest or the status of the mortgage thereon covered by this Commitment must be based on and are subject to the provisions of this Commitment. 5. The policy to be issued contains an arbitration clause. All arbitrable matters when the Amount of Insurance is $2,000,000 or less shall be arbitrated at the option of either the Company or the Insured as the exclusive remedy of the parties. You may review a copy of the arbitration rules at< htto: / /www.alta.orah. All notices required to be given the Company and any statement in writing required to be furnished the Company shall be addressed to it at P.O. Box 2029, Houston, Texas 77252. Copyright 20062009 American Land Title Association. All rights reserved. The use of this Form is restricted to ALTA licensees and ALTA members in good standing as of the date of use. AMERICAN All other uses are prohibited. Reprinted under license from the American Land Title Association. File No. 01330 -45455 x „ 004 -UN ALTA Commitment (6/17/06) COMMITMENT FOR TITLE INSURANCE SCHEDULE A File No.: 01330 -45455 1. Effective Date: July 31, 2014, at 8:00 A.M. 2. Policy or Policies to be issued: Amount of Insurance (a) A.L.T.A. Owner's Policy Proposed Insured: (b) A.L.T.A. Loan Policy Proposed Insured: 3. The estate or interest in the land described or referred to in this Commitment and covered herein is: Fee Simple 4. Title to the said estate or interest in said land is at the effective date hereof vested in: Wesley Duane Ronning Living Trust, dated February 13, 2013 5. The land referred to in this Commitment is described as follows: See Attached Legal Description Purported Address: 5074 Main Gore Drive South Unit B Vail, CO 81657 STATEMENT OF CHARGES These charges are due and payable before a policy can be issued Title Commitment Fee: $300.00 Copyright 2006 -2009 American Land Title Association. All rights reserved. The use of this Form is restricted to ALTA licensees and ALTA members in good standing as of the date of use. .arui ^M All other uses are prohibited. Reprinted under license from the American Land Tile Association. File No. 01330 -45455 Page 1 of 2 STEWART TITLE CO STG ALTA Commitment Sch A STO GUARANTY COMPANY SCHEDULE A LEGAL DESCRIPTION Parcel B, TOGETHER WITH an undivided 1/2 interest in Parcel C, Lot 5, Block 1, VAIL MEADOWS FILING NO. 1, Being more particularly described as follows: All that part of Lot 5, Block 1, VAIL MEADOWS, FILING NO. 1 According to the Plat recorded December 9, 1966 at Reception No. 105077 and as filed for record in Map Case 2, Drawer 1, described as follows: PARCEL B: Beginning at a point whence the southwest corner of said Lot 5 bears North 81 degrees 38'05" West 64.25 feet distant; thence South 48 degrees 16'19" West 8.45 feet; thence South 41 degrees 43'41" East 29.25 feet; thence North 48 degrees 16'19" East 54.70 feet; thence North 41 degrees 43'41" West 29.25 feet; thence South 48 degrees 16'19" West 46.25 feet; To The Point Of Beginning. PARCEL C: An undivided one -half interest in and to the following portion of said Lot 5, Block 1, VAIL MEADOWS FILING NO. 1 described as follows: All of Lot 5, VAIL MEADOWS FILING NO. 1, A SUBDIVISION recorded in the Office of the Clerk and Recorder, Eagle County, Colorado EXCEPT Parcel B described above and that portion of said Lot 5, VAIL MEADOWS, FILING NO. 1, described as follows: Beginning at a point whence the southwest corner of said Lot 5, bears N 81 degrees 38'05" West 64.26 feet distant; thence North 48 degrees 16'19" East 54.60 feet; thence North 41 degrees 43'41" West 30.15 feet; thence South 48 degrees 16'19" West 54.60 feet; thence South 41 degrees 43'41" East 30.15 feet; To The Point Of Beginning. COUNTY OF EAGLE, STATE OF COLORADO. Copyright 20062009 American Land Title Association. All rights reserved. The use of this Form is restricted to ALTA licensees and ALTA members in good standing as of the date of use. "°r llk AM All other uses are prohibited. Reprinted under license from the American Land Title Association. tA." fill r File No. 01330 -45455 Page 2 of 2 STEWART TITLE CO STG ALTA Commitment Sch A STO GUARANTY COMPANY COMMITMENT FOR TITLE INSURANCE SCHEDULE B PART I File No.: 01330 -45455 The following are the requirements to be complied with: 1. Payment to or for the account of the grantor(s) or mortgagor(s) of the full consideration for the estate or interest to be insured. 2. Proper instrument(s) creating the estate or interest to be insured must be executed and duly filed for record. 3. NONE AT THIS TIME NOTE: This product is for informational purposes only. It is not a title insurance product and does not provide any form of coverage. This product is not a guarantee or assurance, and does not warrant, or otherwise insure, any condition, fact or circumstance. This product does not obligate this Company to issue any policies of title insurance for any subsequent transaction based on the information provided or involving the property described herein. This Company's sole liability for any error(s) relating to this product is limited to the amount that was paid for this product. NOTE: The vesting deed is shown as follows: Warranty Deed recorded May 1, 2014 as Reception No. 201406835. Copyright 20062009 American Land Title Association. All rights reserved. The use of this Form is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association. tAS1' TO1' File No. 01330 -45455 Page 1 of 1 STEWART TITLE CO STG ALTA Commitment Sch B I GUARANTY COMPANY COMMITMENT FOR TITLE INSURANCE SCHEDULE B PART II File No.: 01330 -45455 Schedule B of the policy or policies to be issued will contain exceptions to the following matters unless the same are disposed of to the satisfaction of the Company: 1. Rights or claims of parties in possession, not shown by the public records. 2. Easements, or claims of easements, not shown by the public records. 3. Any encroachment, encumbrance, violation, variation, or adverse circumstance affecting the title that would be disclosed by an accurate and complete land survey of the Land and not shown by the public records. 4. Any lien, or right to a lien, for services, labor or material heretofore or hereafter furnished, imposed by law and not shown by the public records. 5. Defects, liens, encumbrances, adverse claims or other matters, if any, created, first appearing in the public records or attaching subsequent to the Effective Date but prior to the date the proposed Insured acquires for value of record the estate or interest or mortgage thereon covered by this Commitment. 6. (a) Unpatented mining claims; (b) reservations or exceptions in patents or in Acts authorizing the issuance thereof; (c) Minerals of whatsoever kind, subsurface and surface substances, in, on, under and that may be produced from the Land, together with all rights, privileges, and immunities relating thereto, whether or not the matters excepted under (a), (b) or (c) are shown by the Public Records or listed in Schedule B. 7. Water rights, claims or title to water. 8. Any and all unpaid taxes and assessments and any unredeemed tax sales. 9. The effect of inclusions in any general or specific water conservancy, fire protection, soil conservation or other district or inclusion in any water service or street improvement area. 10. Reservations or exceptions contained in U.S. Patents, or in Acts authorizing the issuance thereof, recorded September 13, 1902 in Book 48 at Page 491, reserving 1) Rights of the proprietor of a vein or lode to extract and remove his ore therefrom and 2) rights of way for ditches and canals constructed under the authority of the United States. 11. Easements, restrictions and rights -of -ways as shown on the Plat of Vail Meadows, Filing No. 1, recorded December 9, 1966 in book 205 at page 2 as Reception No. 105077. 12. Terms, conditions, reservations, restrictions and obligations as contained in the Protective Covenants for Vail Meadows, Filing No. 1, recorded recorded December 9, 1966 in Book 205 at Page 1 as Reception No. 105076 and July 1, 1970 in Book 218 at Page 85 as Reception No. 113675 and Protective Covenants Appointment of Successor Archictectural Committee Members, recorded April 1, 1987 in Book 460 at Page 224 as Reception No. 356453. 13. Terms, conditions, reservations, restrictions and obligations as contained in Townhouse Declaration recorded August 12, 1980 in Book 306 at Page 805 as Reception No. 203188. 14. Encroachment of asphalt drive onto Main Gore Drive Right Of Way, as shown on the Improvement Location Certificate by Eagle Valley Engineering & Surveying Inc., dated March 10, 1992. Copyright 2006 -2009 American Land Title Association. All rights reserved. The use of this Form is restricted to ALTA licensees and ALTA members in good standing as of the date of use. .wuic sw All other uses are prohibited. Reprinted under license from the American Land Title Association. assn nru ♦wu4 MlxMt File No. 01330 -45455 Page 1 of 1 STEWART TITLE CO STG ALTA Commitment Sch B 11 STO GUARANTY COMPANY Customer Distribution LanRle Our Order Number: V50038684 GUARANTEE COMPANY WWM.LTOC.COM Date: 06 -12 -2014 Property Address: 5074 MAIN GORE DRIVE SOUTH #A AKA UNIT A LOT 5 BLK 1 VAIL MEADOWS FLG 1, VAIL, CO 81657 For Closing Assistance For Title Assistance Erika Frahm VAIL TITLE DEPT. 0090 BENCHMARK RD #205 610 WEST LIONSHEAD CIRCLE #200 PO BOX 3480 VAIL, CO 81657 AVON, CO 81620 970- 477 -4522 (phone) 970- 748 -4799 (phone) 970 - 476 -4534 (fax) 877 - 408 -7367 (fax) eaglecountyrequests @ltgc.com efrahm @Rgc.com Buyer /Borrower 5074 MAIN GORE DRIVE LLP Attention: MICHAEL BARNEY, MGR. Delivered via: Electronic Mail Seller /Owner W. PAUL CALDWELLAND SUSAN K. MASON Delivered via: Electronic Mail Agent for Buyer COLDWELL BANKER DISTINCTIVE PROPERTIES Attention: DIANA MEEHAN 286 BRIDGE ST VAIL, CO 81657 970 - 476 -2113 (work) 970 - 476.3084 (work fax) dmeehan @vail.net Delivered via: Electronic Mail i Closer LAND TITLE GUARANTEE COMPANY Attention: Erika Frahm 0090 BENCHMARK RD #205, PO BOX 3480 AVON,CO 81620 970.748 -4799 (work) 877 - 408 -7367 (work fax) efrahm @ftgc.com pqLand Title Guarantee Company Estimate of Title Fees GUARANTEE COMPANY W W W. LT CC. C0 Order Number: V50038684 Date: 06 -12 -2014 Property Address: 5074 MAIN GORE DRIVE SOUTH #AAKA UNIT A LOT 5 BLK 1 VAIL MEADOWS FLG 1, VAIL, CO 81657 Buyer /Borrower: 5074A MAIN GORE DRIVE LLP Seller: W. PAUL CALDWELL AND SUSAN K. MASON Bank: FIRSTBANK OF COLORADO Address: 10403 W COLFAX AVENUE LAKEWOOD, CO 80215 Phone: 303 - 237 -5000 Credit: LAND TITLE GUARANTEE COMPANY ABA No: 107005047 Account: 2160521825 Attention: Erika Frahm Please note: We do not accept ACH electronic transfers. Visit Land Title's website at www.Itac.com for directions to any of our offices. ALTA Owners Policy 06 -17 -06 (Reissue Rate) $1,354.00 Deletion of Exceptions 1 -3 $60.00 Deletion of General Exception 4 $15.00 Tax Certificate $25.00 If Land Title Guarantee Company will be closing this transaction, the fees listed above will be collected at closing. Total $1,454.00 I THANK YOU FOR YOUR ORDER! ■ ALTA COMMITMENT First American Title Insurance Company Schedule A Property Address: Order Number: V50038684 Customer Ref -Loan No.: 5074 MAIN GORE DRIVE SOUTH #AAKA UNIT A LOT 5 BLK 1 VAIL MEADOWS FLG 1, VAIL, CO 81657 1. Effective Date: 05 -27 -2014 at 17:00:00 2. Policy to be Issued and Proposed Insured: "ALTA" Owner's Policy 06 -17 -06 $730,000.00 Proposed Insured: 5074A MAIN GORE DRIVE LLP 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: W. PAUL CALDWELL AND SUSAN K. MASON 5. The Land referred to in this Commitment is described as follows: PARCEL A, TOGETHER WITH AN UNDIVIDED ONE -HALF INTEREST IN AND TO PARCEL C, LOT 5, BLOCK 1, VAIL MEADOWS FILING NO. 1, BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: ALL THAT PART OF LOT 5, BLOCK 1, VAIL MEADOWS, FILING NO. 1, ACCORDING TO THE PLAT RECORDED DECEMBER 9, 1966 AT RECEPTION NO. 105077 AND AS FILED FOR RECORD IN MAP CASE 2, DRAWER 1, DESCRIBED AS FOLLOWS: PARCEL A: BEGINNING AT POINT WHENCE THE SOUTHWEST CORNER OF SAID LOT 5 BEARS N 81 DEGREES 38 MINUTES 05 SECONDS WEST 64.25 FEET DISTANT, THENCE NORTH 48 DEGREES 16 MINUTES 19 SECONDS EAST 54.60 FEET, THENCE NORTH 41 DEGREES 43 MINUTES 41 SECONDS WEST 30.15 FEET, THENCE SOUTH 48 DEGREES 16 MINUTES 19 SECONDS WEST 54.60 FEET, THENCE SOUTH 41 DEGREES 43 MINUTES 41 SECONDS EAST 30.15 FEET TO THE POINT OF BEGINNING. PARCEL C: AN UNDIVIDED ONE HALF (1/2) INTEREST IN AND TO THE FOLLOWING PORTION OF SAID LOT 5, BLOCK 1, VAIL MEADOWS, FILING NO. 1, DESCRIBED AS FOLLOWS: ALL OF LOT 5, VAIL MEADOWS FILING NO. 1, A SUBDIVISION RECORDED IN THE OFFICE OF THE CLERK AND RECORDER, EAGLE COUNTY, COLORADO EXCEPT PARCEL A DESCRIBED ABOVE AND THAT PORTION OF SAID LOT 5, VAIL MEADOWS, FILING NO. 1, DESCRIBED AS FOLLOWS: PARCEL B: BEGINNING AT A POINT WHENCE THE SOUTHWEST CORNER OF SAID LOT 5 BEARS NORTH 81 DEGREES 38 MINUTES 05 SECONDS WEST 64.25 FEET DISTANT, THENCE SOUTH 48 DEGREES 16 MINUTES 19 SECONDS WEST 8.45 FEET, THENCE SOUTH 41 DEGREES 43 MINUTES 41 SECONDS ALTA COMMITMENT First American Title Insurance Company Schedule A Order Number: V50038684 Customer Ref -Loan No.: EAST 29.25 FEET, THENCE NORTH 48 DEGREES 16 MINUTES 19 SECONDS EAST 54.70 FEET, THENCE NORTH 41 DEGREES 43 MINUTES 41 SECONDS WEST 29.25 FEET, THENCE SOUTH 48 DEGREES 16 MINUTES 19 SECONDS WEST 46.25 FEET TO THE POINT OF BEGINNING, COUNTY OF EAGLE, STATE OF COLORADO. Copyright 2006-2014 American Land Title Association. All Rights Reserved AIERICAN LAM D TLf The use of this Form is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association: ALTA COMMITMENT First American Title Insurance Company Schedule B Section 1 (Requirements) Order Number: V50038684 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 duty 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. EVIDENCE SATISFACTORY TO THE COMPANY THAT THE TERMS, CONDITIONS AND PROVISIONS OF THE TOWN OF VAIL TRANSFER TAX HAVE BEEN SATISFIED. 2. CERTIFICATE OF GOOD STANDING FROM THE SECRETARY OF STATE OR OTHER APPROPRIATE OFFICER OF THE STATE, SHOWING THAT 5074A MAIN GORE DRIVE LLP IS A DULY ORGANIZED AND EXISTING CORPORATION UNDER THE LAWS OF SAID STATE. 3. A FULL COPY OF THE FULLY EXECUTED PARTNERSHIP AGREEMENT AND ANY AND ALL AMENDMENTS THERETO FOR 5074A MAIN GORE DRIVE LLP MUST BE FURNISHED TO LAND TITLE GUARANTEE COMPANY. SAID AGREEMENT MUST DISCLOSE WHO MAY CONVEY, ACQUIRE, ENCUMBER, LEASE OR OTHERWISE DEAL WITH INTERESTS IN REAL PROPERTY FOR SAID ENTITY. NOTE: ADDITIONAL REQUIREMENTS MAY BE NECESSARY UPON REVIEW OF THIS DOCUMENTATION. 4. DULY EXECUTED AND ACKNOWLEDGED STATEMENT OF AUTHORITY SETTING FORTH THE NAME OF 5074A MAIN GORE DRIVE LLP AS A LIMITED LIABILITY PARTNERSHIP. THE STATEMENT OF AUTHORITY MUST STATE UNDER WHICH LAWS THE ENTITY WAS CREATED, THE MAILING ADDRESS OF THE ENTITY, AND THE NAME AND POSITION OF THE PERSON(S) AUTHORIZED TO EXECUTE INSTRUMENTS CONVEYING, ENCUMBERING, OR OTHERWISE AFFECTING TITLE TO REAL PROPERTY ON BEHALF OF THE ENTITY AND OTHERWISE COMPLYING WITH THE PROVISIONS OF SECTION 38 -30 -172, CRS. NOTE: THE STATEMENT OF AUTHORITY MUST BE RECORDED WITH THE CLERK AND RECORDER. 5. RELEASE OF DEED OF TRUST DATED OCTOBER 30, 2009 FROM W. PAUL CALDWELL AND SUSAN K. MASON TO THE PUBLIC TRUSTEE OF EAGLE COUNTY FOR THE USE OF UNIVERSAL LENDING CORPORATION TO SECURE THE SUM OF $938,250.00 RECORDED NOVEMBER 05, 2009, UNDER RECEPTION NO. 200923931. SAID DEED OF TRUST WAS ASSIGNED TO CHAMPION MORTGAGE COMPANY IN ASSIGNMENT RECORDED SEPTEMBER 28, 2012 UNDER RECEPTION NO. 201219770. 6. RELEASE OF DEED OF TRUST DATED OCTOBER 30, 2009 FROM W. PAUL CALDWELL AND SUSAN K. MASON TO THE PUBLIC TRUSTEE OF EAGLE COUNTY FOR THE USE OF THE SECRETARY OF HOUSING AND URBAN DEVELOPMENT TO SECURE THE SUM OF $938,250.00 RECORDED NOVEMBER 05, 2009, UNDER RECEPTION NO. 200923932. ALTA COMMITMENT First American Title Insurance Company Schedule B Section 1 (Requirements) Order Number: V50038684 The following are the requirements to be complied with: 7. WARRANTY DEED FROM W. PAUL CALDWELL AND SUSAN K. MASON TO 5074A MAIN GORE DRIVE LLP CONVEYING SUBJECT PROPERTY. THE FOLLOWING DELETIONS /MODIFICATIONS ARE FOR THE OWNER'S POLICY. NOTE: ITEMS 1 -3 OF THE GENERAL EXCEPTIONS ARE HEREBY DELETED. UPON THE APPROVAL OF THE COMPANY AND THE RECEIPT OF A NOTARIZED FINAL LIEN AFFIDAVIT, ITEM NO. 4 OF THE GENERAL EXCEPTIONS ON THE OWNER'S POLICY WILL BE AMENDED AS FOLLOWS: ITEM NO. 4 OF THE GENERAL EXCEPTIONS IS DELETED AS TO ANY LIENS OR FUTURE LIENS RESULTING FROM WORK OR MATERIAL FURNISHED AT THE REQUEST OF W. PAUL CALDWELL AND SUSAN K. MASON. FIRST AMERICAN TITLE INSURANCE COMPANY SHALL HAVE NO LIABILITY FOR ANY LIENS ARISING FROM WORK OR MATERIAL FURNISHED AT THE REQUEST OF 5074A MAIN GORE DRIVE LLP. NOTE: ITEM 5 OF THE GENERAL EXCEPTIONS WILL BE DELETED IF LAND TITLE GUARANTEE COMPANY CONDUCTS THE CLOSING OF THE CONTEMPLATED TRANSACTION(S) AND RECORDS THE DOCUMENTS IN CONNECTION THEREWITH. NOTE: UPON PROOF OF PAYMENT OF 2013 TAXES, ITEM 6 WILL BE AMENDED TO READ: TAXES AND ASSESSMENTS FOR THE YEAR 2014 AND SUBSEQUENT YEARS. First American Title Insurance Company Schedule B Section 2 (Exceptions) Order Number: V50038684 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 of 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 titre to water, whether or not the matters excepted under (a), (b), or (c) are shown by the Public Records. 8. RIGHT OF PROPRIETOR OF A VEIN OR LODE TO EXTRACT AND REMOVE HIS ORE THEREFROM SHOULD THE SAME BE FOUND TO PENETRATE OR INTERSECT THE PREMISES AS RESERVED IN UNITED STATES PATENT RECORDED SEPTEMBER 13, 1902, IN BOOK 48 AT PAGE An. 9. RIGHT OF WAY FOR DITCHES OR CANALS CONSTRUCTED BY THE AUTHORITY OF THE UNITED STATES AS RESERVED IN UNITED STATES PATENT RECORDED SEPTEMBER 13, 1902, IN BOOK 48 AT PAGE 4U. 10. RESTRICTIVE COVENANTS, WHICH DO NOT CONTAIN A FORFEITURE OR REVERTER CLAUSE, BUT OMITTING ANY COVENANTS OR RESTRICTIONS, IF ANY, BASED UPON RACE, COLOR, RELIGION, SEX, SEXUAL ORIENTATION, FAMILIAL STATUS, MARITAL STATUS, DISABILITY, HANDICAP, NATIONAL ORIGIN, ANCESTRY, OR SOURCE OF INCOME, AS SET FORTH IN APPLICABLE STATE OR FEDERAL LAWS, EXCEPT TO THE EXTENT THAT SAID COVENANT OR RESTRICTION IS PERMITTED BY APPLICABLE LAW, AS CONTAINED IN INSTRUMENT RECORDED DECEMBER 09, 1966, IN BOOK 205 AT PAGE 1 AND AS AMENDED IN INSTRUMENT RECORDED JULY 01, 1970, IN BOOK 218 AT PAGE 85 AND AS AMENDED IN INSTRUMENT RECORDED APRIL 01, 1987, IN BOOK 460 AT PAGE 224. 11. EASEMENTS, CONDITIONS, COVENANTS, RESTRICTIONS, RESERVATIONS AND NOTES ON THE PLAT OF VAIL MEADOWS FILING NO. 1 RECORDED DECEMBER 9, 1966, UNDER RECEPTION NO. 105077. 12. TERMS, CONDITIONS AND PROVISIONS OF TOWNHOUSE DECLARATION BUT OMITTING ANY COVENANTS OR RESTRICTIONS, IF ANY, BASED UPON RACE, COLOR, RELIGION, SEX, SEXUAL ORIENTATION, FAMILIAL STATUS, MARITAL STATUS, DISABILITY, HANDICAP, NATIONAL ORIGIN, ANCESTRY, OR SOURCE OF INCOME, AS SET FORTH IN APPLICABLE STATE OR FEDERAL LAWS, EXCEPT TO THE EXTENT THAT SAID COVENANT OR RESTRICTION IS PERMITTED BY APPLICABLE First American Title Insurance Company Schedule B Section 2 (Exceptions) Order Number: V50038684 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: LAW AS CONTAINED IN INSTRUMENT RECORDED AUGUST 12, 1980 IN BOOK 306 AT PAGE J& ************************************************************* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * ** TOWN OF VAIL, COLORADO Statement ************************************************************* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * ** Statement Number: R140001653 Amount: $100.00 10/07/201403:15 PM Payment Method: Check Init: SAB Notation: 15488 GORE RANGE SURVEYING ----------------------------------------------------------------------------- Permit No: ADM140011 Type: Administrative Parcel No: 2099 - 182 - 1800 -8 Site Address: 5074 MAIN GORE DR SOUTH VAIL Location: Total Fees: $100.00 This Payment: $100.00 Total ALL Pmts: $100.00 Balance: $0.00 ************************************************************* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * ** ACCOUNT ITEM LIST: Account Code Description Current Pmts -------------- - - - - -- ------------------------ - - - - -- ------ - - - - -- PV 00100003112500 Administrative Fee 100.00