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Home My WebLink AboutDRB150141_994TitlRpt_1430519280.pdf COMMITMENT for TITLE INSURANCE issued by pliTITLE COMPANY of the rockier as agent for CHICAGO TITLE INSURANCE COMPANY Reference: Commitment Number: 0816743-C Commitment Ordered By: Inquiries should be directed to: Craig B.Cohn Tracey L Baumgardner Solaris Vail Real Estate LLC Title Company of the Rockies 141 E.Meadow Drive 10 W.Beaver Creek Blvd#221 Vail,CO 81657 Box 980 Phone: (970)479-6000 Fax:(970)479-6666 Avon,CO 81620-0980 email:craig@solarisvail.com Phone:(970)949-9497 Fax:(970)949-9486 email:tbaumgardner@titlecorockies.com Reference Property Address: 994 Ptarmigan Rd,Vail,CO 81657 SCHEDULE A 1. Effective Date: March 16,2014,7:00 am Issue Date: March 26,2014 2. Policy(or Policies)to be issued: ALTA Owner's Policy(6-17-06) Policy Amount: $5,250,000.00 Premium: $4,630.00 Proposed Insured: Saloon 4937 LLC,a Washington limited liability company 3. The estate or interest in the Land described or referred to in this Commitment is: Fee Simple and Title to said estate or interest is at the Effective Date vested in: 994 Ptarmigan,LLC,a Colorado limited liability company 4. The Land referred to in this Commitment is located in the County of Eagle,State of Colorado,and is described as follows: Lot 3,Block 4,VAIL VILLAGE,SEVENTH FILING,according to the Plat thereof recorded December 17, 1965 at Reception No. 102780,County of Eagle,State of Colorado. Commitment No.0816743-C Schedule B-I Requirements COMMITMENT FOR TITLE INSURANCE SCHEDULE B-SECTION I REQUIREMENTS THE FOLLOWING ARE THE REQUIREMENTS TO BE COMPLIED WITH: Item(a) Payment to or for the account of the grantors or mortgagors of the full consideration for the estate or interest to be insured. Item(b) Proper instrument(s)creating the estate or interest to be insured must be executed and duly filed for record,to wit: 1. Deed from 994 Ptarmigan,LLC,a Colorado limited liability company to Saloon 4937 LLC,a Washington limited liability company. NOTE: Duly executed real property transfer declaration,executed by either the Grantor or Grantee,to accompany the Deed mentioned above,pursuant to Article 14 of House Bill No. 1288- CRA 39-14-102. 2. Evidence satisfactory to the Company or its duly authorized agent that all dues and/or assessments levied by the Homeowners Association have been paid through the date of closing. 3. Evidence satisfactory to the Company or its duly authorized agent that the"real estate transfer tax" imposed by Ordinance No.26,Series of 1979,of the Town of Vail,Colorado has been paid,and that the lien imposed by Section 11 thereof has been fully satisfied. 4. Articles of Organization for Saloon 4937 LLC,a Washington limited liability company,disclosing the names of all Managers of said limited liability company and otherwise complying with C.R.S.7- 80-101,et seq.,as amended,and evidencing the existence of said limited liability company prior to the time it acquires title to subject property,must be filed in the office of the Secretary of State for the State of Washington,but need not be recorded. 5. Resolution or Statement of Authority by Saloon 4937 LLC,a Washington limited liability company, authorizing the transaction,executed by the managers or members set forth in the Operating Agreement. NOTE:Review Operating Agreement for authority of party(ies)to act on behalf of said limited liability company and complete the transaction contemplated herein. The Owner's Policy,when issued,will not contain Exceptions No. 1,2,3 and 4 provided that: (A)The enclosed form,of indemnity agreement or final affidavit and agreement is properly executed and acknowledged by the party(ies)indicated and returned to the Company or its duly authorized agent,and • (B)The applicable scheduled charges in the amount of$60.00,are paid to the Company or its duly authorized agent. EXCEPTION NO.5 UNDER SCHEDULE B,SECTION 2 OF THIS COMMITMENT WILL NOT APPEAR IN THE POLICY OR POLICIES TO BE ISSUED PURSUANT HERETO, PROVIDED THAT(A)THE DOCUMENTS CONTEMPLATED BY THE REQUIREMENTS SET FORTH IN SCHEDULE B,SECTION 1 OF THIS COMMITMENT ARE SUBMITTED TO AND APPROVED AND RECORDED BY THE COMPANY OR ITS DULY Alta Commitment-2006 Schedule B-I Requirements Commitment No.0816743-C Schedule B-I Requirements(continued) AUTHORIZED AGENT,AND(B)AN EXAMINATION OF THE RECORDS IN THE OFFICE OF THE CLERK AND RECORDER FOR EAGLE COUNTY,COLORADO BY THE COMPANY OR ITS DULY AUTHORIZED AGENT DISCLOSES THAT NO DEFECTS, LIENS,ENCUMBRANCES,ADVERSE CLAIMS OR OTHER MATTERS HAVE BEEN RECORDED IN SUCH RECORDS SUBSEQUENT TO THE EFFECTIVE DATE HEREOF. 24-month Chain of Title:The only conveyance(s)affecting said land recorded within the 24 months preceding the date of this commitment is(are)as follows: Warranty Deed recorded November 13,2013,at Reception No.201322865. NOTE: If no conveyances were found in that 24 month period,the last recorded conveyance is reported.If the subject land is a lot in a subdivision plat less than 24 months old,only the conveyances subsequent to the plat are reported. Alta Commitment-2006 Schedule B-I Requirements(continued) Commitment No.0816743-C Schedule B-Il Exceptions COMMITMENT FOR TITLE INSURANCE SCHEDULE B-SECTION II EXCEPTIONS 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. Any loss or damage,including attorney fees,by reason of the matters shown below: 1.Any facts,right,interests,or claims which are not shown by the Public Records but which could be ascertained by an inspection of said Land or by making inquiry of persons in possession thereof. 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. 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.(a)Taxes or assessments that are not shown as existing liens by the records of any taxing authority that levies taxes or assessments on real property or by the Public Records;(b)proceedings by a public agency that may result in taxes or assessments,or notices of such proceedings,whether or not shown by the records of such agency or by the Public Records. 7. Right of the 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 Patents recorded July 12, 1899 in Book 48 at Page 475 and May 27, 1926 in Book 93 at Page 146. 8. Right of way for ditches or canals constructed by the authority of the United States,as reserved in United States Patent recorded July 12, 1899 in Book 48 at Page 475. 9. Covenants,conditions,and restrictions contained in the Protective Covenants of Vail Village, Seventh Filing recorded December 7, 1965 in Book 187 at Page 515. 10.Covenants,conditions,restrictions,notes;easements,reservations and rights of ways as shown on the Plat of Vail Village,Seventh Filing recorded December 17, 1965 at Reception No. 102780. Alta Commitment-2006 Schedule B-11 Exceptions