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HomeMy WebLinkAboutDRB150029_Title Report_1423004880.pdf1 Beth Levine From:eaglecountyrequests@ltgc.com Sent:Friday, January 30, 2015 10:01 AM To:beth@bethlevinearchitect.com Subject:Commitment (83 WILLOW PLACE # 3)(buyer/owner A BUYER TO BE DETERMINED)(our 50040296) View this email in full HTML in your browser Associated Documents  Commitment  Invoice  All documents as one PDF Navigating and Understanding your Title Commitment Summary  Click on the blue links in the Table of Contents to go to a specific section  Click on the (back to top)links to return to the top of the email  Click on the blue links within the body of the email to view a related document  Click on a blue email address link in the Contacts section to send an email to that party  Green underlined text indicates changes from the previous Title Summary For general information on title insurance, please refer to http://www.alta.org/consumer Commitment Summary - 83 WILLOW PLACE # 3 (50040296) View Printable Version Table of Contents  LTGC Contacts  Delivery Parties  Order Information  Vesting (24 month Chain of Title)  Wire Instructions  Title Fees  Schedule A  Requirements  Exceptions  Disclosure 2 Your Land Title Guarantee Company Contacts (back to top) For Title Assistance VAIL TITLE DEPT. 610 WEST LIONSHEAD CIRCLE #200 VAIL, CO 81657 970-477-4522 (phone) 970-476-4534 (fax) eaglecountyrequests@ltgc.com Commitment Delivery Parties (back to top) BETH LEVINE PO BOX 1825 AVON, CO 81620 970-926-4993 (work) beth@bethlevinearchitect.com Delivered via: Electronic Mail Order Information (back to top) Order Number: 50040296 Property Address: 83 WILLOW PLACE # 3, VAIL, CO 81657 Buyer/Borrower: A BUYER TO BE DETERMINED Seller: AV WILLOW, LLC, A COLORADO LIMITED LIABILITY COMPANY Vesting Deed(s) / (24 month Chain of Title): Eagle county recorded 4/16/2014 under reception no. 5914 Eagle county recorded 10/16/2007 under reception no. 27530 Wire Instructions (back to top) Bank: Address: Phone: Credit: ABA No: Account: FIRSTBANK OF COLORADO 10403 W COLFAX AVENUE LAKEWOOD, CO 80215 303-237-5000 LAND TITLE GUARANTEE COMPANY 107005047 2160521825 Estimate of Title Fees (back to top) TBD Commitment $100.00 $100.00 Schedule A (back to top) Property Address: 3 83 WILLOW PLACE # 3, VAIL, CO 81657 1. Effective Date: 01-27-2015 at 05:00PM 2. Policy to be Issued and Proposed Insured: "TBD" Commitment Proposed Insured: A BUYER TO BE DETERMINED $0.00 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: AV WILLOW, LLC, A COLORADO LIMITED LIABILITY COMPANY 5. The Land referred to in this Commitment is described as follows: CONDOMINIUM UNIT 3, RIVERHOUSE CONDOMINIUMS, ACCORDING TO THE CONDOMINIUM MAP THEREOF RECORDED DECEMBER 12, 1973 IN BOOK 232 AT PAGE 459, AND AS DEFINED AND DESCRIBED IN THE CONDOMINIUM DECLARATION RECORDED DECEMBER 12, 1973 IN BOOK 232 AT PAGE 458, COUNTY OF EAGLE, STATE OF COLORADO. Plat Map(s): Eagle county recorded 12/12/1973 under reception no. 128344 map id R/7 APN(s): 210108216003 Requirements (back to top) 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. EVIDENCE SATISFACTORY TO THE COMPANY THAT THE TERMS, CONDITIONS AND PROVISIONS OF THE TOWN OF VAIL TRANSFER TAX HAVE BEEN SATISFIED. 2. WRITTEN CONFIRMATION THAT THE INFORMATION CONTAINED IN STATEMENT OF AUTHORITY FOR AV WILLOW, LLC, A COLORADO LIMITED LIABILITY COMPANY RECORDED APRIL 16, 2014 AT RECEPTION NO. 201405913 IS CURRENT. NOTE: SAID INSTRUMENT DISCLOSES ANDREW GREENBERG AS THE MANAGER AUTHORIZED TO EXECUTE INSTRUMENTS CONVEYING, ENCUMBERING OR OTHERWISE AFFECTING TITLE TO REAL PROPERTY ON BEHALF OF SAID ENTITY. IF THIS INFORMATION IS NOT ACCURATE, A CURRENT STATEMENT OF AUTHORITY MUST BE RECORDED. 4 NOTE: THE UNSIGNED OPERATING AGREEMENT FOR AV WILLOW, LLC, A COLORADO LIMITED LIABILITY COMPANY DISCLOSES ANDREW GREENBERG AS THE MANAGER AUTHORIZED TO EXECUTE LEGAL INSTRUMENTS ON BEHALF OF SAID ENTITY. NOTE: A FULLY EXECUTED COPY OF SAID OPERATING AGREEMENT MUST BE RECEIVED BY LAND TITLE GUARANTE COMPANY PRIOR TO CLOSING. 3. RELEASE OF DEED OF TRUST DATED JULY 01, 2014 FROM AV WILLOW, LLC, A COLORADO LIMITED LIABILITY COMPANY TO THE PUBLIC TRUSTEE OF EAGLE COUNTY FOR THE USE OF GOLDMAN SACHS BANK USA TO SECURE THE SUM OF $1,715,000.00 RECORDED JULY 11, 2014, UNDER RECEPTION NO. 201411392. 4. WARRANTY DEED FROM AV WILLOW, LLC, A COLORADO LIMITED LIABILITY COMPANY TO A BUYER TO BE DETERMINED CONVEYING SUBJECT PROPERTY. 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. Exceptions (back to top) 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 title to water. 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 JULY 12, 1899, IN BOOK 48 AT PAGE 475. 9. RIGHT OF WAY FOR DITCHES OR CANALS CONSTRUCTED BY THE AUTHORITY OF THE UNITED STATES AS RESERVED IN UNITED 5 STATES PATENT RECORDED JULY 12, 1899, IN BOOK 48 AT PAGE 475. 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 AUGUST 10, 1962, IN BOOK 174 AT PAGE 179. 11. EASEMENTS, CONDITIONS, COVENANTS, RESTRICTIONS, RESERVATIONS AND NOTES ON THE PLAT OF VAIL VILLAGE, FILING NO. 1 RECORDED AUGUST 6, 1962 UNDER RECEPTION NO. 96382. 12. EASEMENTS, CONDITIONS, COVENANTS, RESTRICTIONS, RESERVATIONS AND NOTES ON THE CONDOMINIUM MAP OF RIVERHOUSE CONDOMINIUMS RECORDED DECEMBER 12, 1973 IN BOOK 232 AT PAGE 459. 13. THOSE PROVISIONS, COVENANTS AND CONDITIONS, EASEMENTS AND RESTRICTIONS, WHICH ARE A BURDEN TO THE CONDOMINIUM UNIT DESCRIBED IN SCHEDULE A, 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 12, 1973, IN BOOK 232 AT PAGE 458. Disclosure Statements (back to top) 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: 1. The subject real property may be located in a special taxing district. 2. A certificate of taxes due listing each taxing jurisdiction will be obtained from the county treasurer of the county in which the real property is located or that county treasurer's authorized agent unless the proposed insured provides written instructions to the contrary. (for an Owner's Policy of Title Insurance pertaining to a sale of residential real property) 3. The information regarding special districts and the boundaries of such districts may be obtained from the Board of County Commissioners, the County Clerk and Recorder, or the County Assessor. Note: Effective September 1, 1997, CRS 30-10-406 requires that all documents received for recording or filing in the clerk and recorder's office shall contain a top margin of at least one inch and a left, right and bottom margin of at least one half of an inch. The clerk and recorder may refuse to record or file any document that does not conform, except that, the requirement for the top margin shall not apply to documents using forms on which space is provided for recording or filing information at the top margin of the document. Note: Colorado Division of Insurance Regulations 3-5-1, Paragraph C of Article VII requires that "Every title entity shall be responsible for all 6 matters which appear of record prior to the time of recording whenever the title entity conducts the closing and is responsible for recording or filing of legal documents resulting from the transaction which was closed". Provided that Land Title Guarantee Company conducts the closing of the insured transaction and is responsible for recording the legal documents from the transaction, exception number 5 will not appear on the Owner's Title Policy and the Lenders Policy when issued. Note: Affirmative mechanic's lien protection for the Owner may be available (typically by deletion of Exception no. 4 of Schedule B, Section 2 of the Commitment from the Owner's Policy to be issued) upon compliance with the following conditions: 1. The land described in Schedule A of this commitment must be a single family residence which includes a condominium or townhouse unit. 2. 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. 3. The Company must receive an appropriate affidavit indemnifying the Company against un-filed mechanic's and material-men's liens. 4. The Company must receive payment of the appropriate premium. 5. If there has been construction, improvements or major repairs undertaken on the property to be purchased within six months prior to the Date of the Commitment, the requirements to obtain coverage for unrecorded liens will include: disclosure of certain construction information; financial information as to the seller, the builder and or the contractor; payment of the appropriate premium fully executed Indemnity Agreements satisfactory to the company, and, any additional requirements as may be necessary after an examination of the aforesaid information by the Company. No coverage will be given under any circumstances for labor or material for which the insured has contracted for or agreed to pay. Note: Pursuant to CRS 10-11-123, notice is hereby given: This notice applies to owner's policy commitments containing a mineral severance instrument exception, or exceptions, in Schedule B, Section 2. 1. 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 2. That such mineral estate may include the right to enter and use the property without the surface owner's permission. NOTE: Pursuant to CRS 10-1-128(6)(a), It is unlawful to knowingly provide false, incomplete, or misleading facts or information to an insurance company for the purpose of defrauding or attempting to defraud the company. Penalties may include imprisonment, fines, denial of insurance and civil damages. Any insurance company or agent of an insurance company who knowingly provides false, incomplete, or misleading facts or information to a policyholder or claimant for the purpose of defrauding or attempting to defraud the policyholder or claimant with regard to a settlement or award payable from insurance proceeds shall be reported to the Colorado division of insurance within the department of regulatory agencies. 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. Open the attached pdf version of the commitment to view our PRIVACY POLICY. The above links and associated images are provided for information purposes only. They are not guaranteed as to accuracy, availability or quality. These images are provided for informational purposes only. They are not guaranteed as to availability or quality. 7 These documents are PDF (Portable Document Format) files and can be viewed or printed with Adobe Acrobat ReaderTM. If you do not have Adobe Acrobat ReaderTM on your system, you can download it for free from Adobe. Some of these documents may be designed to print on LEGAL paper. To print these on LETTER paper, select the "Fit to Page" option from within the Acrobat Reader. If you want to print on LEGAL paper, select legal-size paper from within the "Print Setup" dialog box from within the Acrobat Reader. Having troubles viewing the PDF's on Firefox? Try installing a pdf plugin like PDF Viewer. Content in this email is Copyright LT Systems, L.L.C. All rights reserved.