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HomeMy WebLinkAboutDRB150036_LotB Title_1423507740.pdf F Land Title Guarantee Company Date: July 24, 2007 HENSTON FAMILY LLC, A COLORADO LIMITED LIABILITY COMPANY 69 WINGED FOOT DRIVE LIVINGSTON, NJ 07039 Enclosed please find the title insurance policy for your property located at LOT 16, UNIT B, BIGHORN SUBDIVISION, AKA 4126 COLUMBINE DRIVE VAIL CO . The following endorsements are included in this policy: Deletion of Exceptions 1-3 Deletion of General Exception 4 Please review this policy in its entirety. In the event that you find any discrepancy, or if you have any questions regarding your final title policy, you may contact Title Department Phone: 970-476-2251 Fax: 970-476-4732 Please refer to our Order No. V50019209 Should you decide to sell the property described in this policy, or if you are required to purchase a new title commitment for mortgage purposes, you may be entitled to a credit toward future title insurance premiums. Land Title Guarantee Company will retain a copy of this policy so we will be able to provide future products and services to you quickly and efficiently. Thank you for giving us the opportunity to serve you. Sincerely, Land Title Guarantee Company American Land Title Association OWNER'S POLICY ' (10-17-92) CHICAGO TITLE INSURANCE COMPANY SUBJECT TO THE EXCLUSIONS FROM COVERAGE,THE EXCEPTIONS FROM COVERAGE CONTAINED IN SCHEDULE B AND THE CONDITIONS AND STIPULATIONS,CHICAGO TITLE INSURANCE COMPANY,a Missouri corporation,herein called the Company,insures,as of Dale el Policy shown in Schedule A,against loss or damage,not exceeding the Amount of Insurance slated in Schedule A,sustained or incurred by the insured by reason of: I. Title to the estate or interest described in Schedule A being vested other than as slated therein; 2. Any defect in or lien or encumbrance on the title; 3. Unmarketability of the title; 4. Lack of a right of access to and from the land. The Company will also pay the costs,attorneys'fees and expenses incurred in defense of the title,as insured,but only to the extent provided in the Conditions and Stipulations. IN WITNESS WHEREOF,the said CHICAGO TITLE INSURANCE COMPANY has caused this policy to be signed and sealed as of Date of Policy shown in Schedule A,the policy to become valid when countersigned by an authorized signatory. EXCLUSIONS FROM COVERAGE The following matters are expressly excluded from the coverage of this policy and the Company will not pay loss or damage,costs,attorneys'fees or expenses which arise by reason of: 1. la) Any law,ordinance or governmental regulation (including but not limited to building and zoning laws,ordinances,or regulations)restricting,regulating,prohibiting or relating to(i)the occupancy,use,or enjoyment of the land;(ii)the character,dimensions or location of any improvement now or hereafter erected on the land;(iii) a separation in ownership or a change in the dimensions or area of the land or any parcel of which the land is or was a part;or(iv)environmental protection,or the effect of any violation of these laws,ordinances or governmental regulations,except to the extent that a notice of the enforcement thereof or a notice of a defect,lien or encumbrance resulting from a violation or alleged violation affecting the land has been recorded in the public records at Date of Policy. (b) Any governmental police power nal excluded by la)above,except to the extent that a notice of the exercise thereof or a notice of a defect,lien or encumbrance resulting from a violation or alleged violation affecting the land has been recorded in the public records at Date of Policy. 2. Rights of eminent domain unless notice of the exercise thereof has been recorded in the public mcords at gale of Policy,but not excluding from coverage any taking which has occurred prior to Date of Policy which would be binding on the rights of a purchaser for value without knowledge. 3. Defects,liens,encumbrances,adverse claims,or other matters: (a) created,suffered,assumed or agreed to by the insured claimant; Ibl not known to the Company,not recorded in the public records at Dale of Policy,but known to the insured claimant and not disclosed in writing to the Company by the insured claimant prior to the dale the insured claimant became an insured under this policy; lc) resulting in no loss or damage to the insured claimant; (d) attaching or created subsequent to Date of Policy;or lel resulting in loss or damage which would not have been sustained if the insured claimant had paid value for the estate or interest insured by this policy. 4. Any claim,which arises out of the transaction vesting in the Insured the estate or interest insured by this policy,by reason of the operation of federal bankruptcy, state insolvency,or similar creditors'rights laws,that is based on: (i) the transaction creating the estate or interest insured by this policy being deemed a fraudulent conveyance or fraudulent transfer,or WI the transaction creating the estate or interest insured by this policy being deemed preferential transfer except where the preferential transfer results from the failure: (alto timely record the instrument of transfer,or Wl of such recordation to Impart notice to a purchaser for value or a judgment or lien creditor. CHICAGO TITLE INSURANCE COMPANY Issued through the Office of: LAND TITLE GUARANTEE COMPANY 108 S FRONTAGE RD W#203 1s 1NStida 6?1741VAIL,CO 81657 ti F �. / . L970.476.2251 fOFpORgr ., C+ LLLL chi >304 �cL • a SLetev/t ° ' SEAL �� Authorized Signature MICHI(Form 8256) Cover Page I of 3 1c)Whenever the Company shall have brought an action or interposed a defense as CONDITIONS AND STIPULATIONS required or permitted by the provisions of this policy,the Company may pursue any litigation to final determination by a court of competent jurisdiction and expressly 1. Definition of Terms. reserves the right,in its sale discretion,to appeal from any adverse judgment or order. The fallowing terms when used in this policy mean: (thin all cases where this policy permits or requires the Company to prosecute or (a) "insured":the insured named in Schedule A,and,subject to any rights ar defenses provide for the defense of any action or proceeding,the insured shall secure to the the Company would have had against the named insured,those who succeed Company the right to so prosecute or provide defense in the action or proceeding,and all to the interest of the named insured by operation of law as distinguished from appeals therein,and permit the Company to use,at its option,the name of the insured for purchase including,but not limited to,heirs,distributees,devisees,survivors, this purpose.Whenever requested by the Company,the insured,at the Company's expense, personal representatives,next of kin,or corporate or fiduciary successors. shall give the Company all reasonable aid(ilia any action or proceeding,securing (b) "insured claimant":an insured claiming loss or damage. evidence,obtaining witnesses,prosecuting or defending the action or proceeding,or Icl "knowledge"or"known":actual knowledge,nal conslmctive knowledge or notice effecting settlement,and(ii)in any other lawful act which in the opinion of the Company which may be imputed to an insured by reason of the public records as defined in this policy may be necessary or desireable to establish the title to the estate or interest as insured. or any other records which impart constructive notice of matters affecting the land. If the Company is prejudiced by the failure of the insured to furnish the required Idl "land":the land described or referred to in Schedule A,and improvements affixed cooperation,the Company's obligations to the insured under the policy shall terminate, thereto which by law constitute real property.The term"land"does not include any property including any liability or obligation to defend,prosecute,or continue any litigation, beyond the lines of the area described or referred to in Schedule A,nor any right,title, with regard to the matter or matters requiring such cooperation. interest,estate or easement in abutting streets,roads,avenues,alleys,lanes,ways or waterways,but nothing herein shall modify or limit the extent to which a right of access 5. Proof of Loss or Damage. to and from the land is insured by this policy. In addition to and after the notices required under Section 3 of these Conditions lel "mortgage":mortgage,deed oftrust,trust deed,or other security instrument. and Stipulations have been provided theCompany,a proof of loss or damage signed and (f) "public records":records established under state statutes at Dale of Policy for the sworn to by the insured claimant shall be furnished to the Company within 90 days after the purpose of imparting constructive notice of matters relating to real property to purchasers insured claimant shall ascertain the facts giving rise to the loss or damage.The proof of for value and without knowledge.With respect to Section 1(allivl of the Exclusions from loss or damage shall describe the defect in,or lien or encumbrance an the title,or other Coverage,"public records'shall also include environmental protection liens filed in the matter insured against by this policy which constitutes the basis of loss or damage and retards of the clerk of the United States district court for the district in which the land shall state,to the extent possible,the basis of calculating the amount of the loss or is located. damage.11 the Company is prejudiced by the failure of the insured claimant to provide Igl "unmarketabilily of the title":an alleged or apparent matter affecting the title to the required proof of lass or damage,the Company's obligations to the insured under the the land,not excluded or excepted from coverage,which would entitle a purchaser of the policy shall terminate,including any liability or obligation to defend,prosecute,or estate or interest described in Schedule A to be released from the obligation to purchase continue any litigation,with regard to the matter or matters requiring such proof of by vinare of a contractual condition requiring the delivery of marketable title. loss or damage. In addition,the insured claimant may reasonably be required to submit to examination 2. Continuation of Insurance After Conveyance of Title. under oath by any authorized representative of the Company and shall produce far examination, The following coverage of this policy shall continue in farce as of Dale of Policy in favor inspection and copying,at such reasonable tines and places as may be designated by any of an insured only so long as the insured retains an estate or interest in the land,or holds an authorized representative of the Company,all retards,hooks,ledgers,checks,correspondence indebtedness secured by a purchase money mortgage given by a purchaser from the insured, and memoranda,whether hearing a dale before or after Date of Policy,which reasonably or only so long as the insured shall have liability by reason of covenants of warranty made pertain to the loss or damage.Further,if requested by any authorized representative of by the insured in any transfer or conveyance of the estate or interest.This policy shall the Company,the insured claimant shall grant its permission,in writing,for any not continue in farce in favor of any purchaser from the insured of either li)an estato authorized representative of the Company to examine,inspect and copy all records,books, or interest in the land,or(it)an indebtedness secured by a purchase money mortgage given ledgers,checks,correspondense and memoranda in the custody or control of a third party, to the insured. which,reasonably pertain to the lass or damage.All information designated as confidential by the insured claimant provided to the Company pursuant to this Section shall not be 3. Notice of Claim to be Given by Insured Claimant. disclosed to others unless,in the reasonable judgment of the Company,it is necessary in The insured shall notify the Company promptly in writing 6)in case of any litigation the administration of the claim.Failure of the insured claimant to submit far examination as set forth in Section 4(a)below,lig in case knowledge shall came to an insured hereunder under oath.produce other reasonably requested information or grant permission to secure of any claim of title or interest which is adverse to the title to the estate or interest,as reasonably necessary information from third parties as required in this paragraph insured,and which might cause loss or damage for which the Company may be liable by virtue of shall terminate any liability of the Company under this policy as to that claim. of this policy,or(iii)it title to the estate or interest,as insured,is rejected as unmarketable. If prompt notice shall not be given to the Company,then as to the insured all liability of 6. Options to Pay or Otherwise Settle Claims;Termination of Liability. the Company shall terminale with regard to the matter ar matters for which prompt notice is In case of a claim under this policy,the Company shall have the following additional molted:provided,however,that failure to notify the Company shall in no case prejudice the options: rights of any insured under this policy unless the Company shall be prejudiced by the failure (a)To Pay or Tender Payment of the Ameunt of Insurance. and then only to the extent of the prejudice. To pay or tender payment of the amount of insurance under this policy together with any costs,attorneys'leas and expenses incurred by the insured claimant,which were 4. Defense and Prosecution of Actions;Duly of Insured Claimant to Cooperate. authorized by the Company,up to the time of payment or tender of payment and which the (a)Upon written request by the insured and subject to the options contained in Section 6 of Company is obligated to pay, these Conditions and Stipulations,the Company,at its awn cost and without unreasonable Upon the exercise by the Company of this option,all liability and obligations to delay,shall provide far the the defense of an insured in litigation in which any third party the insured under this policy,other than to make payment required,shall terminate, asserts a claim adverse to the title or interest as insured,but only as to those stated causes including any liability or obligation to defend,prosecute,or continue any litigation,and of action alleging a defect,lien or encumbrance or other matter insured against by this policy. the policy shall be surrendered to the Company for cancellation. The Company shall have the right to select counsel of its choice(subject to the right of the (b)To Pay or Otherwise Settle With Parties Other Than the Insured or With the insured to object for reasonable cause)to represent the insured as to those stated causes of Insured Clabnant. action and shall not be liable for and will not pay the fees of any other counsel.The Company b) to pay or otherwise settle with other parties for or in the name of an will not pay any fees,costs or expenses incurred by the insured in the defense of those insured claimant any claim insured against under this policy,together with any costs, causes of action which allege matters not insured against by this policy. attorneys'fees and expenses incurred by the insured claimant which were authorized by the Ib)The Company shall have the right,at its own cost,to institute and prosecute any Company up to the time of payment and which the Company is obligated to pay;or action or proceeding or to do any other act which in its opinion may be necessary or liil to pay or otherwise settle with the insured claimant the lass or damage desirable to establish the title to the estate or interest,as insured,or to prevent or provided for under this policy,together with any costs,attorneys'fees and expenses reduce loss or damage to the insured.The Company may take any appropriate action under incurred by the insured claimant which were authorized by the Company up to the time of the terms of this policy,whether or not it shall be liable hereunder,and shall not thereby payment and which the Company is obligated to pay. concede liability or waive any provision of this policy.If the Company shall exercise its Upon the exorcise by the Company of either of the options provided for in paragraphs rights under this paragraph,it shall do so diligently. Minor NI,the Company's obligations la the insured under this policy for the claimed loss or damage,other than the payments required to be made,shall terminate,including any liability or obligation to defend,prosecute,or continue any litigation. AO.CHI.2 Cover Page 2 of 3 • 7. Detemrinalion,Extent of Liability and Coinsurance. 13. Subrogation Upon Payment of Settlement. This policy is a contract of indemnity against actual monetary loss or damage la)The Company's flight of Subrogation. sustained or incurred by the insured claimant who has suffered loss or damage by Whenever the Company shall have settled and paid a claim under this policy,all reason of matters insured against by this policy and only to the extent herein described. right of subrogation shall vest in the Company unaffected by any act of the insured la) The liability of the Company under this policy shall not exceed the least of: claimant. hl the Amount of Insurance slated in Schedule A;or, The Company shall be subrogated to and be entitled to all rights and remedies which Oil the difference between the value of the insured estate or interest as the insured claimant would have had against any person or property in respect to the insured and the value of the insured estate or interest subject to the defect,lien or claim had this policy not been issued.If requested by the Company,the insured encumbrance insured against by this policy. claimant shall transfer to the Company all rights and remedies against any person or @I In the event the Amount of Insurance staled in Schedule A at the Date of Policy properly necessary in order to perfect this right of subrogation.The insured claimant is less than BO percent of the value of the insured estate or interest ar the full shall permit the Company to sue,compromise or settle in the name of the insured consideration paid for the land,whichever is lass,or if subsequent to the Dale of claimant and to use the name of the insured claimant in any transaction or litigation Policy an improvement is erected on the land which increases the value of the insured involving these rights or remedies. estate or interest by at least 20 percent over the Amount al Insurance staled in If a payment on account of a claim does not fully cover the loss of the insured Schedule A,then this policy is subject to the following: claimant,the Company shall be subrogated to these rights and remedies in the (i)where no subsequent improvement has been made,as to any partial loss, proportion which the Company's payment bears to the whole amount of the loss. the Company shall only pay the lass pro rata in the proportion that the amount of If loss should result tram any act of the insured claimant,as stated above, insurance at Date of Policy bears to the total value of the insured estate or interest that act shall not void this policy,but the Company,in that event,shall be required at Date of Palicy;or to pay only that part of any losses insured against by this policy which shall exceed Iii)where a subsequent improvement has been made,as to any partial lass, the amount,if any,lost to the Company by reason of the impairment by the insured the Company shall only pay the loss pro rata in the proportion that 120 percent of the claimant of the Company's right of subrogation. Amount of Insurance slated in Schedule A bears to the sum of the Amount of Insurance @I The Company's Rights Against Non-insured Obligors. staled in Schedule A and the amount expended for the improvement. The Company's right of subrogation against noninsured obligors shall exist and The provisions of this paragraph shall not apply to costs,attorneys'fees and shall include,without limitation,the rights of the insured to indemnities,guaranties, expenses for which the Company is liable under this policy,and shall only apply to that other policies of insurance or bands,notwithstanding any terms or conditions contained portion of any loss which exceeds,in the aggregate, 10 percent of the Amount of Insurance in those instruments which provide for subrogation rights by reason of this policy. stated in Schedule A. (c)The Company will pay only those costs,attorneys'fees and expenses incurred 14. Arbitration. in accordance with Section 4 of these Conditions and Stipulations. Unless prohibited by applicable law,either the Company or the insured may demand arbitration pursuant to the Title Insurance Arbitration Rules of the American 8. Apportionment. Arbitration Association.Arbitrable matters may include,but are not limited to,any II the land described in Schedule A consists of Iwo or mare parcels which are not controversy or claim between the Company and the insured arising out of or relating to used as a single site,and a loss is established affecting one or more of the parcels but this policy,any service of the Company in connection with its issuance or the breach not all,the loss shall be computed and settled on a pro rata basis as it the amount of of a policy provision or other obligation.All arbitrable matters when the Amount of insurance under this policy was divided pro rata as to the value on Dale of Policy of Insurance of$1,000,000 or less shall he arbitrated at the option of either the Company each separate parcel to the whale,exclusive of any improvements made subsequent to Date or the insured.All arbitrable matters when the Amount of Insurance is in excess of of Policy,unless a liability or value has otherwise been agreed upon as to each parcel $1,000,000 shall be arbitrated only when agreed to by both the Company and the insured. by the Company and the insured at the time of the issuance of this policy and shown by Arbitration pursuant to this policy and under the Rules in effect on the date the demand an express statement or by an endorsement attached to this policy. for arbitration is made or,at the option of the insured,the Rules in effect at Dale of Policy shall be binding upon the parties. The award may include attorneys'fees 9. Limitation of Liability. only if the laws of the state in which the land is located permit a court to award (a)If the Company establishes the title,or removes the alleged defect,lien or attorney's fees to a prevailing party.Judgment upon the award rendered by the encumbrance,or cures the lack of a right of access to or from the land,or cures the Arbilratorlslmay be entered in any court having jurisdiction thereof. claim of unmarketability of title,all as insured,in a reasonably diligent manner by The law of the situs of the land shall apply to an arbitration under the Title any method,including litigation and the completion of any appeals therefrom,it shall Insurance Arbitration Rules.A copy of the Rules may be obtained from the Company have fully performed its obligations with respect to that matter and shall not he liable upon request, for any loss or damage caused thereby. Ibl In the avant of any litigation including litigation by the Company or with the 16. Liability Limited to this Policy;Policy Entire Contract. Company's consent,the Company shall have no liability for lass or damage until there has lal This policy together with all endorsements,if any,attached hereto by the been a final determination by a court of competent jurisdiction,and disposition of Company is the entire policy and contract between the insured and the Company.In all appeals therefrom,adverse to the title as insured. interpreting any provision of this policy,this policy shall be construed as a whole. (c)The Company shall not be liable for loss or damage to any insured for liability Ib)Any claim of loss or damage,whether or not based on negligence,and which voluntarily assumed by the insured in settling any claim ar suit without the prior arises out of the status of the title to the estate or interest covered hereby or by written consent of the Company. any action asserting such claim,shall be restricted to this policy. lc)No amendment al or endorsement to this policy can be made except by a writing 10. Reduction of Insurance;Reduction or Termination of Liability. endorsed hereon or attached hereto signed by either the President,a Vice President, All payments under this policy,except payments made for costs,attorneys'fees the Secretary,an Assistant Secretary,or validating officer or authorized signatory and expenses,shall reduce the amount of the insurance pro tanto. of the Campany. 11. Liability Noncumulative. 16. Severability. It is expressly understood that the amount of insurance under this policy shall In the event any provision of the policy is held invalid or unenforceable under be reduced by any amount the Company may pay under any policy insuring a mortgage to applicable law,the policy shall be deemed not to include that provision and all other which exception is taken in Schedule B or to which the insured has agreed,assumed,or provisions shall remain in full force and affect. taken subject,or which is hereafter executed by an insured and which is a charge or lien an the estate or interest described or referred to in Schedule A,and the amount 17. Notices,Where Sent. so paid shall he deemed a payment under this policy to the insured owner. All notices required to be given the Company and any statement in writing required to he furnished the Company shall include the number of this policy and shall be 12. Payment of Loss, addressed to the Company at the issuing office or to: (a)No payment shall be made without producing this policy for endorsement of the Chicago Title Insurance Company payment unless the policy has been lost or destroyed,in which case proof of loss or Claims Department destruction shall be tarnished to the satisfaction of the Company. 171 North Clark Street lb)When liability and the extent of loss ar damage has been definitely fixed in Chicago,Illinois 606013294 accordance with these Conditions and Stipulations,the loss or damage shall be payable within 30 days thereafter. AO.CHI.3 Cover Page 3 of 3 LTG Policy No. CTAI50019209 Form AO/CHI Chicago Policy No. 72106-2000999 Our Order No. V50019209 Schedule A Amount $1,790,000.00 Property Address: LOT 16, UNIT B, BIGHORN SUBDIVISION, AKA 4126 COLUMBINE DRIVE VAIL CO 81657 1. Policy Date: July 09, 2007 at 5:00 P.M. 2. Name of Insured: HENSTON FAMILY LLC, A COLORADO LIMITED LIABILITY COMPANY 3. The estate or interest in the land described or referred to in this Schedule and which is covered by this policy is: A FEE SIMPLE 4. Title to the estate or interest covered by this policy at the date hereof is vested in: HENSTON FAMILY LLC, A COLORADO LIMITED LIABILITY COMPANY 5. The land referred to in this policy is described as follows: SEE ATTACHED PAGE(S) FOR LEGAL DESCRIPTION This Policy valid only if Schedule B is attached. Land Title Guarantee Company Representing Chicago Title Insurance Company • , LTG Policy No. CTAI5 0 0192 09 Our Order No. V50019209 LEGAL DESCRIPTION PARCEL B: A PART OF LOT 16, BIGHORN SUBDIVISION, A SUBDIVISION RECORDED IN THE OFFICE OF THE CLERK AND RECORDER, EAGLE COUNTY, COLORADO, SAID PART OF LOT 16, BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: BEGINNING AT A POINT WHENCE THE NORTHWEST CORNER OF SAID LOT 16, BEARS NORTH 00 DEGREES 57 MINUTES 47 SECONDS EAST 111.30 FEET, THENCE SOUTH 62 DEGREES 58 MINUTES 00 SECONDS EAST 23.25 FEET, THENCE SOUTH 27 DEGREES 02 MINUTES 00 SECONDS WEST 28.95 FEET, THENCE SOUTH 62 DEGREES 58 MINUTES 00 SECONDS EAST 10.10 FEET, THENCE SOUTH 27 DEGREES 02 MINUTES 00 SECONDS WEST 38.90 FEET, THENCE NORTH 62 DEGREES 58 MINUTES 00 SECONDS WEST 33.35 FEET, THENCE NORTH 27 DEGREES 02 MINUTES 00 SECONDS EAST 67.85 FEET TO THE POINT OF BEGINNING. TOGETHER WITH AN UNDIVIDED ONE-HALF INTEREST IN AND TO PARCEL C DESCRIBED AS FOLLOWS: PARCEL C: ALL OF LOT 16, BIGHORN SUBDIVISION, A SUBDIVISION RECORDED IN THE OFFICE OF THE CLERK AND RECORDER OF EAGLE COUNTY, COLORADO, COUNTY OF EAGLE, STATE OF COLORADO, EXCEPT PARCEL B DESCRIBED ABOVE AND PARCEL A DESCRIBED BELOW: PARCEL A: A PART OF LOT 16, BIGHORN SUBDIVISION, A SUBDIVISION RECORDED IN THE OFFICE OF THE CLERK AND RECORDER, EAGLE COUNTY, COLORADO, SAID PART OF LOT 16 BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: BEGINNING AT A POINT WHENCE THE NORTHWEST CORNER OF SAID LOT 16 BEARS NORTH 00 DEGREES 57 MINUTES 41 SECONDS EAST 111.30 FEET DISTANT, THENCE SOUTH 27 DEGREES 02 MINUTES 00 SECONDS WEST 65.55 FEET, THENCE NORTH 62 DEGREES 58 MINUTES 00 SECONDS WEST 50.00 FEET, THENCE NORTH 27 DEGREES 02 MINUTES 00 SECONDS EAST 44.50 FEET, THENCE SOUTH 62 DEGREES 58 MINUTES 00 SECONDS EAST 17.06 FEET, THENCE NORTH 27 DEGREES 02 MINUTES 00 SECONDS EAST 33.95 FEET, THENCE SOUTH 62 DEGREES 58 MINUTES 00 SECONDS EAST 26.55 FEET, THENCE SOUTH 27 DEGREES 02 MINUTES 00 SECONDS WEST 12.90 FEET, THENCE SOUTH 62 DEGREES 58 MINUTES 00 SECONDS EAST 6.39 FEET TO THE POINT OF BEGINNING. LTG Policy No. CTAI50019209 Form AO/CHI Chicago Policy No. 72106-2000999 Our Order No. V50019209 Schedule B This policy does not insure against loss or damage (and the Company will not pay costs, attorneys' fees or expenses) which arise by reason of: General Exceptions: I . Rights or claims of parties in possession not shown by the public records. ?. Easements, or claims of easements, not shown by the public records. 3. Discrepancies, conflicts in boundary lines, shortage in area, encroachments, and any facts which a correct survey and inspection of the premises would disclose and which are not shown by the public records. 4. Any lien, or right to a lien, for services, labor, or material heretofore or hereafter furnished, imposed by law and not shown by the public records. 5. 2007 TAXES AND ASSESSMENTS NOT YET DUE OR PAYABLE. 6. RIGHT OF WAY FOR DITCHES OR CANALS CONSTRUCTED BY THE AUTHORITY OF THE UNITED STATES AS RESERVED IN UNITED STATES PATENT RECORDED NOVEMBER 22, 1939, IN BOOK 123 AT PAGE 625. 7. 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 20, 1962, IN BOOK 174 AT PAGE 403 AND AMENDED IN INSTRUMENT RECORDED APRIL 3, 1963 IN BOOK 175 AT PAGE 33 AND AMENDED IN INSTRUMENT RECORDED MAY 3, 1963 IN BOOK 175 AT PAGE 81. 8. TEN PERCENT NON-PARTICIPATING ROYALTY IN AND TO PROCEEDS DERIVED FROM THE SALE OF ANY MINERALS OF WHATSOEVER KIND AND NATURE, PRODUCED AND MINED FROM THE SAID PREMISES AS RESERVED TO GUST KIAHTIPES AND EVA J. KIAHTIPES BY INSTRUMENT RECORDED NOVEMBER 2, 1962 IN BOOK 166 AT PAGE 407, AND ANY AND ALL ASSIGNMENTS THEREOF OR INTERESTS THEREIN. 9. EASEMENTS, CONDITIONS, COVENANTS, RESTRICTIONS, RESERVATIONS AND NOTES ON THE RECORDED PLAT OF BIGHORN SUBDIVISION RECORDED DECEMBER 3, 1962 RECEPTION NO. 96766. 10. TERMS, CONDITIONS AND PROVISIONS OF TOWNHOUSE DECLARATION FOR LOT 16, • A . \ f LTG Policy No. CTAI50019209 Form AO/CHI Chicago Policy No. 72106-2000999 Our Order No. V50019209 Schedule B BIGHORN SUBDIVISION 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 JULY 07, 1980 IN BOOK 304 AT PAGE 997. 11. TERMS, CONDITIONS AND PROVISIONS OF AGREEMENT FOR ALLOCATION OF ALLOWABLE GRFA AND SITE COVERAGE RECORDED JULY 09, 2007 AT RECEPTION NO. 200718160. ITEM NOS. 1 THROUGH 3 OF THE GENERAL EXCEPTIONS ARE HEREBY DELETED. ITEM NO. 4 OF THE GENERAL EXCEPTIONS IS DELETED EXCEPT AS TO ANY LIENS RESULTING FROM WORK OR MATERIAL CONTRACTED FOR OR FURNISHED AT THE REQUEST OF HENSTON FAMILY LLC, A COLORADO LIMITED LIABILITY COMPANY.