HomeMy WebLinkAboutOwnerTitle Policy.pdf Land Title Guarantee Company
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Date:January 19, 2016
Land Title
GUARANTEE COMPANY
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TNREF III BRAVO VAIL, LLC, A DELAWARE LIMITED LIABILITY COMPANY
5786 WIDEWATERS PARKWAY
P.O. BOX 3
DEWITT, NY 13214
plawless@widewaters.com
Subject: Attached Title Policy 0X50041784.1370271
for 2211 NORTH FRONTAGE ROAD WEST, VAIL, CO 81657
Enclosed please find the Owner's Title Insurance Policy for your purchase of the property listed
above.
This title policy is the final step in your real estate transaction, and we want to take a moment to
remind you of its importance. Please review all information in this document carefully and be sure
to safeguard this policy along with your other legal documents.
Your owner's policy insures you as long as you own the property and requires no additional
premium payments.
Please feel free to contact any member of our staff if you have questions or concerns regarding
your policy, or you may contact the Final Policy Department at Phone: 303-850-4174 or
As a Colorado-owned and operated title company for over 45 years, with offices throughout the
state, we take pride in serving our customers one transaction at a time. We sincerely appreciate
your business and welcome the opportunity to assist you with any future real estate needs. Not
only will Land Title be able to provide you with the title services quickly and professionally, but you
may also be entitled to a discount on title premiums if you sell or refinance the property described
in the enclosed policy.
Thank you for giving us the opportunity to work with you on this transaction. We look forward to
serving you again in the future.
Sincerely,
Land Title Guarantee Company
* OWNER'S POLICY OF TITLE INSURANCE
* ANY NOTICE OF CLAIM AND ANY OTHER NOTICE OR STATEMENT IN WRITING REQUIRED TO BE GIVEN TO THE COMPANY
*UNDER THIS POLICY MUST BE GIVEN TO THE COMPANY AT THE ADDRESS SHOWN IN SECTION 18 OF THE CONDITIONS.
''-COVERED RISKS
* * SUBJECT TO THE EXCLUSIONS FROM COVERAGE,THE EXCEPTIONS FROM COVERAGE CONTAINED IN SCHEDULE B
AND THE CONDITIONS,OLD REPUBLIC NATIONAL TITLE INSURANCE COMPANY,a Minnesota corporation,(the
"Company"),insures,as of Date of Policy and,to the extent stated in Covered Risks 9 and 10,after Date of Policy,against loss or damage,not exceeding
the Amount of Insurance,sustained or incurred by the Insured by reason of:
1. Title being vested other than as stated in Schedule A.
2. Any defect in or lien or encumbrance on the title;This covered Risk includes but is not limited to insurance against loss from
(a)A defect in the Title caused by
(i)forgery,fraud,undue influence,duress,incompetency,incapacity,or impersonation;(ii)failure of any person or Entity to have
authorized a transfer or conveyance;
(iii)a document affecting Title not properly created,executed,witnessed,sealed,acknowledged,notarized,or delivered;(iv)failure to
perform those acts necessary to create a document by electronic means authorized by law;
(v)a document executed under a falsified,expired,or otherwise invalid power of attorney;
(vi)a document not properly filed,recorded,or indexed in the Public Records including failure to perform those acts by electronic
means authorized by law;or
(vii)a defective judicial or administrative proceeding.
(b)The lien of real estate taxes or assessments imposed on the Title by a governmental authority due or payable,but unpaid.
(c)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. The term"encroachment"includes encroachments of existing improvements located on the Land onto
adjoining land,and encroachments onto the Land of existing improvements located on adjoining land.
3. Unmarketable Title.
4. No right of access to and from the Land.
5. The violation or enforcement of any law,ordinance,permit,or governmental regulation(including those relating to building and zoning)restricting,
regulating,prohibiting,or relating to
(a)the occupancy,use or enjoyment of the Land;
(b)the character,dimensions,or location of any improvement erected on the Land;
(c)the subdivision of land;or
(d)environmental protection
if a notice,describing any part of the Land,is recorded in the Public Records setting forth the violation or intention to enforce,but only to the
extent of the violation or enforcement referred to in that notice.
6. An enforcement action based on the exercise of a governmental police power not covered by Covered Risk 5 if a notice of the enforcement
action,describing any part of the Land,is recorded in the Public Records,but only to the extent of the enforcement referred to in that notice.
7. The exercise of the rights of eminent domain if a notice of the exercise,describing any part of the Land,is recorded in the Public Records.
8. Any taking by a governmental body that has occurred and is binding on the rights of a purchaser for value without Knowledge.
9. Title being vested other than as stated in Schedule A or being defective
(a)as a result of the avoidance in whole or in part,or from a court order providing an alternative remedy,of a transfer of all or any part of the title
to or any interest in the Land occurring prior to the transaction vesting Title as shown in Schedule A because that prior transfer constituted a
fraudulent or preferential transfer under federal bankruptcy,state insolvency,or similar creditors'rights laws;or
(b)because the instrument of transfer vesting Title as shown in Schedule A constitutes a preferential transfer under federal bankruptcy,state
insolvency,or similar creditors'rights laws by reason of the failure of its recording in the Public Records
(i)to be timely,or
(ii)to impart notice of its existence to a purchaser for value or to a judgment or lien creditor.
10. Any defect in or lien or encumbrance on the Title or other matter included in Covered Risks 1 through 9 that has been created or attached or has
been filed or recorded in the Public Records subsequent to Date of Policy and prior to the recording of the deed or other instrument of transfer in
the Public Records that vests Title as shown in Schedule A.
The Company will also pay the costs,attorneys'fees,and expenses incurred in defense of any matter insured against by this Policy,but only to the extent
provided in the Conditions. OLD REPUBLIC NATIONAL TITLE INSURANCE COMPANY
a Stock Company
Issued through the Office of: 400 Second Avenue South
LAND TITLE GUARANTEE COMPANY Minneapolis,Minnesota 55401
3033 E 1ST AVE#600 612)371-1111
DENVER,CO 80206 ,►, , ,+►,
303-850-4165 `.• ` T}4
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* z _ — AMERICAN Mark Bilbrey, President LAND TITLE
* rn _ �� ASSOCIATION
John E. Freyer, President " '2 'f . D /11110
Kande Yeager, Secretary
Copyright 2006-2015 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.
AMERICAN LAND TITLE ASSOCIATION OWNER'S POLICY Adopted 6-17-06 ao.06.policy.pgl.ort.odt
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 that
arise by reason of:
1. (a)Any law,ordinance,permit,or governmental regulation(including those relating to building and zoning)restricting,regulating,prohibiting or relating to
(i)the occupancy,use,or enjoyment of the Land;
(ii)the character,dimensions,or location of any improvement erected on the Land;
(iii)the subdivision of land;or
(iv)environmental protection;
or the effect of any violation of these laws,ordinances,or governmental regulations.This Exclusion 1(a)does not modify or limit the coverage
provided under Covered Risk 5.
(b)Any governmental police power.This Exclusion 1(b)does not modify or limit the coverage provided under Covered Risk 6.
2. Rights of eminent domain.This Exclusion does not modify or limit the coverage provided under Covered Risk 7 or 8.
3. Defects,liens,encumbrances,adverse claims,or other matters
(a)created,suffered,assumed,or agreed to by the Insured Claimant;
(b)not Known to the Company,not recorded in the Public Records at Date of Policy,but Known to the Insured Claimant and not disclosed in writing to the
Company by the Insured Claimant prior to the date the Insured Claimant became an Insured under this policy;
(c)resulting in no loss or damage to the Insured Claimant;
(d)attaching or created subsequent to Date of Policy(however,this does not modify or limit the coverage provided under Covered Risk 9 and 10);or
(e)resulting in loss or damage that would not have been sustained if the Insured Claimant had paid value for the Title.
4. 4.Any claim,by reason of the operation of federal bankruptcy,state insolvency,or similar creditors'rights laws,that the transaction vesting the Title as shown
in Schedule A,is
(a)a fraudulent conveyance or fraudulent transfer;or
(b)a preferential transfer for any reason not stated in Covered Risk 9 of this policy.
5. Any lien on the Title for real estate taxes or assessments imposed by governmental authority and created or attaching between Date of Policy and the date
of recording of the deed or other instrument of transfer in the Public Records that vests Title as shown in Schedule A.
CONDITIONS
1.DEFINITION OF TERMS
The following terms when used in this policy mean:
(a)"Amount of Insurance":The amount stated in Schedule A,as may be increased or decreased by endorsement to this policy,increased by Section 8(b)or
decreased by Sections 10 and 11 of these Conditions.
(b)"Date of Policy": The date designated as"Date of Policy" in Schedule A.
(c)"Entity": A corporation,partnership,trust,limited liability company,or other similar legal entity.
(d)"Insured": The Insured named in Schedule A.
(i)The term"Insured"also includes
(A)successors to the Title of the Insured by operation of law as distinguished from purchase,including heirs,devisees,survivors,
personal representatives,or next of kin;
(B)successors to an Insured by dissolution,merger,consolidation,distribution,or reorganization; (C)successors to an Insured by its
conversion to another kind of Entity;
(D)a grantee of an Insured under a deed delivered without payment of actual valuable consideration conveying the Title
(1)if the stock,shares,memberships,or other equity interests of the grantee are wholly-owned by the named Insured.
(2)if the grantee wholly owns the named Insured,
(3)if the grantee is wholly-owned by an affiliated Entity of the named Insured,provided the affiliated Entity and the
named Insured are
both wholly-owned by the same person or Entity,or
(4)if the grantee is a trustee or beneficiary of a trust created by a written instrument established by the Insured named in
Schedule A for estate planning purposes.
(ii)With regard to(A),(B),(C),and(D)reserving,however,all rights and defensed as to any successor that the Company would have had
against any predecessor Insured.
(e)"Insured Claimant": An Insured claiming loss or damage.
(f)"Knowledge"or"Known": Actual knowledge,not constructive knowledge or notice that may be imputed to an Insured by reason of the Public Records or
any other records that impart constructive notice of matters affecting the Title.
(g)"Land": The land described in Schedule A,and affixed improvements that by law constitute real property. The term"Land" does not include any
property beyond the lines of the area described in Schedule A,nor any right,title, interest, estate,or easement in abutting streets,roads,avenue,alleys,
lanes,ways,or waterways, but this does not modify or limit the extent that a right of access to and from the Land is insured by this policy.
(h)"Mortgage": Mortgage,deed of trust, trust deed,or other security instrument, including one evidenced by electronic means authorized by law.
(i)"Public Records":Records established under state statutes at Date of Policy for the purpose of imparting constructive notice of matters relating to real
property to purchasers for value and without Knowledge.With respect to Covered Risk 5(d),"Public Records"shall also include environmental protection
liens filed in the records of the clerk of the United States District Court for the district where the Land is located.
(j)"Title": The estate or interest described in Schedule A.
"Unmarketable Title": Title affected by an alleged or apparent matter that would permit a prospective purchaser or lessee of the Title or lender on the Title to
be released from the obligation to purchase,lease,or lend if there is a contractual condition requiring the delivery of marketable title.
2.CONTINUATION OF INSURANCE
The coverage of this policy shall continue in force as of Date of Policy in favor of an Insured,but only so long as the Insured retains an estate or interest in the Land,or
holds an obligation secured by a purchase money Mortgage given by a purchaser from the Insured,or only so long as the Insured shall have liability by reason of
warranties in any transfer or conveyance of the Title.This policy shall not continue in force in favor of any purchaser from the Insured of either(i)an estate or interest in
the Land,or(ii)an obligation secured by a purchase money Mortgage given to the Insured.
3.NOTICE OF CLAIM TO BE GIVEN BY INSURED CLAIMANT
The Insured shall notify the Company promptly in writing (i)in case of any litigation as set forth in Section 5(a)of these Conditions,(ii)in case Knowledge shall come to
an Insured hereunder of any claim of title or interest that is adverse to the Title,as insured,and that might cause loss or damage for which the Company may be liable
by virtue of this policy,or(iii)if the Title,as insured,is rejected as Unmarketable Title.If the Company is prejudiced by the failure of the Insured Claimant to provide
prompt notice,the Company's liability to the Insured Claimant under the policy shall be reduced to the extent of the prejudice.
4.PROOF OF LOSS
In the event the Company is unable to determine the amount of loss or damage,the Company may,at its option,require as a condition of payment that the Insured
Claimant furnish a signed proof of loss.The proof of loss must describe the defect,lien,encumbrance,or other matter insured against by this policy that constitutes the
basis of loss or damage and shall state,to the extent possible,the basis of calculating the amount of the loss or damage.
5.DEFENSE AND PROSECUTION OF ACTIONS
(a)Upon written request by the Insured,and subject to the options contained in Section 7 of these Conditions,the Company,at its own cost and without unreasonable
delay,shall provide for the defense of an Insured in litigation in which any third party asserts a claim covered by this policy adverse to the Insured.This obligation is
limited to only those stated causes of action alleging matters insured against by this policy.The Company shall have the right to select counsel of its choice(subject to
the right of the Insured to object for reasonable cause)to represent the Insured as to those stated causes of action.It shall not be liable for and will not pay the fees of
any other counsel.The Company will not pay any fees,costs,or expenses incurred by the Insured in the defense of those causes of action that allege matters not
insured against by this policy.
(b)The Company shall have the right,in addition to the options contained in Section 7 of these Conditions,at its own cost,to institute and prosecute any action or
proceeding or to do any other act that in its opinion may be necessary or desirable to establish the Title,as insured,or to prevent or reduce loss or damage to the
Insured.The Company may take any appropriate action under the terms of this policy,whether or not it shall be liable to the Insured.The exercise of these rights shall
not be an admission of liability or waiver of any provision of this policy.If the Company exercises its rights under this subsection,it must to so diligently.
(c)Whenever the Company brings an action or asserts a defense as required or permitted by this policy,the Company may pursue the litigation to a final determination
by a court of competent jurisdiction,and it expressly reserves the right,in its sole discretion,to appeal any adverse judgment or order.
6.DUTY OF INSURED CLAIMANT TO COOPERATE
(a)In all cases where this policy permits or requires the Company to prosecute or provide for the defense of any action or proceeding and any appeals,the Insured shall
secure to the Company the right to so prosecute or provide defense in the action or proceeding,including the right to use,at its option,the name of the Insured for this
purpose.Whenever requested by the Company,the Insured,at the Company's expense,shall give the Company all reasonable aid(i)in securing evidence,obtaining
witnesses,prosecuting or defending the action or proceeding,or effecting settlement, and(ii)in any other lawful act that in the opinion of the Company may be
necessary or desirable to establish the Title or any other matter as insured.If the Company is prejudiced by the failure of the Insured to furnish the required cooperation,
the Company's obligation to the Insured under the policy shall terminate,including any liability or obligation to defend,prosecute,or continue any litigation,with regard to
the matter or matters requiring such cooperation.
(b)The Company may reasonably require the Insured Claimant to submit to examination under oath by any authorized representative of the Company and to produce for
examination,inspection,and copying,at such reasonable times and places as may be designated by the authorized representative of the Company,all records,in
whatever medium maintained,including books,ledgers,checks,memoranda,correspondence,reports,e-mails,disks,tapes,and videos whether bearing a date before
or after Date of Policy,that reasonably pertain to the loss or damage.Further,if requested by any authorized representative of the Company,the Insured Claimant shall
grant its permission,in writing, for any authorized representative of the Company to examine,inspect,and copy all of these records in the custody or control of a third
party that reasonably pertain to the loss or damage.All information designated as confidential by the Insured Claimant provided to the Company pursuant to this Section
shall not be disclosed to others unless,in the reasonable judgment of the Company,it is necessary in the administration of the claim.Failure of the Insured Claimant to
submit for examination under oath produce any reasonably requested information,or grant permission to secure reasonably necessary information from third parties as
required in this subsection,unless prohibited by law or governmental regulation, shall terminate any liability of the Company under this policy as to that claim.
7.OPTIONS TO PAY OR OTHERWISE SETTLE CLAIMS;TERMINATION OF LIABILITY
In case of a claim under this policy,the Company shall have the following additional options:
(a)To Pay or Tender Payment of the Amount of Insurance.
To pay or tender payment of the Amount of Insurance under this policy together with any costs,attorneys' fees,and expenses incurred by the Insured
Claimant that were authorized by the Company up to the time of payment or tender of payment and that the Company is obligated to pay.Upon the exercise
by the Company of this option,all liability and obligations of the Company to the Insured under this policy,other than to make the payment
required in the subsection,shall terminate,including any liability or obligation to defend,prosecute,or continue any litigation.
(b)To Pay or Otherwise Settle With Parties Other Than the Insured or With the Insured Claimant.
(i)To pay or otherwise settle with other parties for or in the name of an Insured Claimant any claim insured against under this policy.In addition,
the Company will pay any costs,attorneys' fees,and expenses incurred by the Insured Claimant that were authorized by the Company up to the
time of payment and that the Company is obligated to pay;or
(ii)To pay or otherwise settle with the Insured Claimant the loss or damage provided for under this policy,together with any costs,attorneys'
fees,and expensed incurred by the Insured Claimant that were authorized by the Company up to the time of payment and that the Company is
obligated to pay.
Upon the exercise by the Company of either of the options provided for in subsections(b)(i)or(ii),the Company's obligations to 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.
8.DETERMINATION AND EXTENT OF LIABILITY
This policy is a contract of indemnity against actual monetary loss or damage sustained or incurred by the Insured Claimant who has suffered loss or damage by reason
of matters insured against by this policy.
(a)The extent of liability of the Company for loss or damage under this policy shall not exceed the lesser of
(i)the Amount of Insurance;or
(ii)the difference between the value of the Title as insured and the value of the Title subject to the risk insured against by this policy.
(b)If the Company pursues its rights under Section 5 of these Conditions and is unsuccessful in establishing the Title,as insured,
(i)the Amount of Insurance shall be increased by 10%,and
(ii)the Insured Claimant shall have the right to have the loss or damage determined either as of the date the claim was made by the Insured
Claimant or as of the date it is settled and paid.
(c)In addition to the extent of liability under(a)and(b),the Company will also pay those costs,attorneys' fees,and expenses incurred in accordance with
Sections 5 and 7 of these Conditions.
9.LIMITATION OF LIABILITY
(a)If the Company establishes the Title,or removes the alleged defect,lien,or encumbrance,or cures the lack of a right of access to or from the Land,or cures the claim
of Unmarketable Title,all as insured,in a reasonably diligent manner by any method,including litigation and the completion of any appeals,it shall have fully performed
its obligations with respect to that matter and shall not be liable for any loss or damage caused to the Insured.
(b)In the event of any litigation, including litigation by the Company or with the Company's consent,the Company shall have no liability for loss or damage until there
has been a final determination by a court of competent jurisdiction, and disposition of all appeals,adverse to the Title,as insured.
(c)The Company shall not be liable for loss or damage to the Insured for liability voluntarily assumed by the Insured in settling any claim or suit without the prior written
consent of the Company.
10.REDUCTION OF INSURANCE;REDUCTION OR TERMINATION OF LIABILITY
All payments under this policy,except payments made for costs,attorneys' fees,and expenses,shall reduce the Amount of Insurance by the amount of the payment.
11.LIABILITY NONCUMULATIVE
The Amount of Insurance shall be reduced by any amount the Company pays under any policy insuring a Mortgage to which exception is taken in Schedule B or to which
the Insured has agreed,assumed,or taken subject,or which is executed by an Insured after Date of Policy and which is a charge or lien on the Title,and the amount so
paid shall be deemed a payment to the Insured under this policy.
12.PAYMENT OF LOSS
When liability and the extent of loss or damage have been definitely fixed in accordance with these Conditions,the payment shall be made within 30 days.
13.RIGHTS OF RECOVERY UPON PAYMENT OR SETTLEMENT
(a)Whenever the Company shall have settled and paid a claim under this policy,it shall be subrogated and entitled to the rights of the Insured Claimant in the Title and
all other rights and remedies in respect to the claim that the Insured Claimant has against any person or property,to the extent of the amount of any loss,costs,
attorneys' fees,and expenses paid by the Company.If requested by the Company,the Insured Claimant shall execute documents to evidence the transfer to the
Company of these rights and remedies.The Insured Claimant shall permit the Company to sue,compromise,or settle in the name of the Insured Claimant and to use the
name of the Insured Claimant in any transaction or litigation involving these rights and remedies.If a payment on account of a claim does not fully cover the loss of the
Insured Claimant,the Company shall defer the exercise of its right to recover until after the Insured Claimant shall have recovered its loss.
(b)The Company's right of subrogation includes the rights of the Insured to indemnities,guaranties,other policies of insurance,or bonds,notwithstanding any terms or
conditions contained in those instruments that address subrogation rights.
14.ARBITRATION
Either the Company or the Insured may demand that the claim or controversy shall be submitted to arbitration pursuant to the Title Insurance Arbitration Rules of the
American Land Title Association("Rules").Except as provided in the Rules,there shall be no joinder or consolidation with claims or controversies of other persons,
Arbitrable matters may include,but are not limited to,any controversy or claim between the Company and the Insured arising out of or relating to this policy,any service
in connection with its issuance or the breach of a policy provision,or to any other controversy or claim arising out of the transaction giving rise to this policy.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.All arbitrable matters when the
Amount of Insurance is in excess of$2,000,000 shall be arbitrated only when agreed to by both the Company and the Insured.Arbitration pursuant to this policy and
under the Rules shall be binding upon the parties.Judgment upon the award rendered by the Arbitrator(s) may be entered in any court of competent jurisdiction.
15.LIABILITY LIMITED TO THIS POLICY;POLICY ENTIRE CONTRACT
(a)This policy together with all endorsements,if any,attached to it by the Company is the entire policy and contract between the Insured and the Company.In
interpreting any provision of this policy,this policy shall be construed as a whole.
(b)Any claim or loss or damage that arises out of the status of the Title or by any action asserting such claim shall be restricted to this policy.
(c)Any amendment of or endorsement to this policy must be in writing and authenticated by an authorized person,or expressly incorporated by Schedule A of this policy.
(d)Each endorsement to this policy issued at any time is made a part of this policy and is subject to all of its terms and provisions.Except as the endorsement expressly
states,it does not(i)modify any of the terms and provisions of the policy,(ii)modify any prior endorsement,(iii)extend the Date of Policy,or(iv)increase the Amount of
Insurance.
16.SEVERABILITY
In the event any provision of this policy,in whole or in part,is held invalid or unenforceable under applicable law,the policy shall be deemed not to include that provision
or such part held to be invalid,but all other provisions shall remain in full force and effect.
17.CHOICE OF LAW;FORUM
(a)Choice of Law;The Insured acknowledges the Company has underwritten the risks covered by this policy and determined the premium charged therefor in reliance
upon the law affecting interests in real property and applicable to the interpretation, rights,remedies,or enforcement of policies of title insurance of the jurisdiction
where the Land is located.
Therefore,the court or an arbitrator shall apply the law of the jurisdiction where the Land is located to determine the validity of claims against the Title that are adverse
to the Insured and to interpret and enforce the terms of this policy.In neither case shall the court or arbitrator apply its conflicts of law principles to determine the
applicable law.
(b)Choice of Forum;Any litigation or other proceeding brought by the Insured against the Company must be filed only in a state or federal court within the United States
of America or its territories having appropriate jurisdiction.
18.NOTICES,WHERE SENT
Any notice of claim and any other notice or statement in writing required to be given to the Company under this policy must be given to the Company at:400 Second
Avenue South,Minneapolis,Minnesota 55401,(612)371-1111.
ANTI-FRAUD STATEMENT: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.
This anti-fraud statement is affixed to and made a part of this policy.
AMERICAN LAND TITLE ASSOCIATION OWNER'S POLICY Adopted 6-17-06
Copyright 2006-2015 American Land Title Association.All rights reserved. ao.06.policy.cover.odt
Land Title Guarantee Company Representing Old Republic National Title Insurance Company
Schedule A
Order Number: ABD 50041784 Policy Number: 0X50041784.1370271
Amount: $22,400,000.00
Property Address:
2211 NORTH FRONTAGE ROAD WEST, VAIL, CO 81657
1. Policy Date:
January 08, 2016 at 5:00 P.M.
2. Name of Insured:
TNREF III BRAVO VAIL, LLC,A DELAWARE 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,AS TO PARCELS AAND B;AND EASEMENT TITLE,AS TO PARCELS B-1 AND C
4. Title to the estate or interest covered by this policy at the date is vested in:
TNREF III BRAVO VAIL, LLC,A DELAWARE LIMITED LIABILITY COMPANY
5. The Land referred to in this Policy is described as follows:
PARCEL A:
A PARCEL OF LAND LYING WITHIN A RESUBDIVISION OF VAIL DAS SCHONE FILING NO. 1,AND VAIL
DAS SCHONE FILING NO. 3, COUNTY OF EAGLE, STATE OF COLORADO, MORE PARTICULARLY
DESCRIBED AS FOLLOWS:
BEGINNING AT THE NORTHEAST CORNER OF SAID PARCEL,ALSO BEING A POINT ON THE
WESTERLY RIGHT OF WAY LINE OF CHAMONIX LANE AND THE NORTHWEST CORNER OF LOT 2A,
RESUBDIVISION OF LOT 2, VAIL DAS SCHONE FILING NO. 3;
THENCE SOUTH 19 DEGREES 46 MINUTES 40 SECONDS EAST 420.66 FEET TO A POINT ON THE
NORTH RIGHT OF WAY LINE OF INTERSTATE HIGHWAY NO. 70 FRONTAGE ROAD;
THENCE ALONG SAID NORTH RIGHT OF WAY LINE ON THE FOLLOWING THREE COURSES:
1) SOUTH 52 DEGREES 02 MINUTES 56 SECONDS WEST 62.00 FEET;
2) SOUTH 69 DEGREES 54 MINUTES 16 SECONDS WEST 274.90 FEET;
3) SOUTH 46 DEGREES 04 MINUTES 45 SECONDS WEST 45.08 FEET TO THE SOUTHEAST CORNER
OF THE COLLINS WIRTH SUBDIVISION;
THENCE ALONG THE EAST LINE OF SAID SUBDIVISION NORTH 39 DEGREES 52 MINUTES 53
SECONDS WEST 171.75 FEET TO A POINT ON THE SOUTH RIGHT OF WAY LINE OF CHAMONIX ROAD;
THENCE ALONG THE RIGHT OF WAY ON THE FOLLOWING TWO COURSES:
1) 245.63 FEET ALONG THE ARC OF A 194.4 FOOT RADIUS CURVE TO THE LEFT WHOSE CENTRAL
ANGLE IS 72 DEGREES 23 MINUTES 01 SECONDS AND WHOSE LONG CHORD BEARS NORTH 08
DEGREES 02 MINUTES 31 SECONDS EAST 229.62 FEET;
2) NORTH 28 DEGREES 09 MINUTES 00 SECONDS WEST 98.5 FEET TO A POINT ON THE SOUTH
RIGHT OF WAY LINE OF CHAMONIX LANE;
THENCE SOUTH ALONG SAID RIGHT OF WAY LINE OF THE FOLLOWING THREE COURSES:
1) NORTH 39 DEGREES 43 MINUTES 00 SECONDS EAST 89.04 FEET;
2) 59. 57 FEET ALONG THE ARC OF A 75.00 FOOT RADIUS CURVE TO THE RIGHT WHOSE CENTRAL
Land Title Guarantee Company Representing Old Republic National Title Insurance Company
Schedule A
ANGLE IS 45 DEGREES 30 MINUTES 29 SECONDS AND WHOSE LONG CHORD BEARS NORTH 62
DEGREES 28 MINUTES 18 SECONDS EAST 58.02 FEET;
3) NORTH 85 DEGREES 13 MINUTES 33 SECONDS EAST 214.34 FEET TO THE POINT OF BEGINNING.
SAID PARCEL ALSO BEING KNOWN AND DESCRIBED AS VAIL DAS SCHONE SUBDIVISION - TRACT
K.,
EXCEPT ALL UNITS IN APEX AT VAIL CONDOMINIUMS IN ACCORDANCE WITH THE AMENDED AND
RESTATED CONDOMINIUM DECLARATION FOR APEX AT VAIL CONDOMINIUMS RECORDED
DECEMBER 27, 2004 UNDER RECEPTION NO. 901611,AND THE SECOND AMENDED AND RESTATED
CONDOMINIUM DECLARATION FOR APEX AT VAIL CONDOMINIUMS RECORDED MARCH 11, 2005
UNDER RECEPTION NO. 908943,AND THE CONDOMINIUM MAP FOR INN AT WEST VAIL RECORDED
OCTOBER 27, 1983, IN BOOK 372 AT PAGE 866, COUNTY OF EAGLE, STATE OF COLORADO.
PARCEL B:
ALL UNITS IN APEX AT VAIL CONDOMINIUMS IN ACCORDANCE WITH THE AMENDED AND RESTATED
CONDOMINIUM DECLARATION FOR APEX AT VAIL CONDOMINIUMS RECORDED DECEMBER 27, 2004
UNDER RECEPTION NO. 901611,AND THE SECOND AMENDED AND RESTATED CONDOMINIUM
DECLARATION FOR APEX AT VAIL CONDOMINIUMS RECORDED MARCH 11, 2005 UNDER RECEPTION
NO. 908943,AND THE CONDOMINIUM MAP FOR INN AT WEST VAIL RECORDED OCTOBER 27, 1983, IN
BOOK 372 AT PAGE 866, COUNTY OF EAGLE, STATE OF COLORADO.
PARCEL B-1:
NON-EXCLUSIVE EASEMENTS FOR ACCESS, PARKING, UTILITIES AND MAINTENANCE AS SET
FORTH IN AMENDED AND RESTATED RECIPROCAL EASEMENTS AND COVENANTS AGREEMENT
RECORDED MARCH 11, 2005 UNDER RECEPTION NO. 908944.
PARCEL C:
NON-EXCLUSIVE EASEMENTS FOR VEHICULAR AND PEDESTRIAN INGRESS AND EGRESS AS SET
FORTH IN SECTION 3 OF EASEMENT AGREEMENT RECORDED SEPTEMBER 10, 1996 IN BOOK 704 AT
PAGE 902.
This Policy Valid only if Schedule B is attached.
Land Title Guarantee Company Representing Old Republic National Title Insurance Company
(Schedule B)
Policy Number 0X50041784.1370271
Order Number 50041784
THIS POLICY DOES NOT INSURE AGAINST LOSS OR DAMAGE BY REASON OF THE FOLLOWING:
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) (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.
ITEMS 1, 2, 3, 4, 5(A)AND 5(B) OF ABOVE STANDARD EXCEPTIONS ARE HEREBY DELETED.
6) TAXES AND ASSESSMENTS FOR THE YEAR 2016 AND SUBSEQUENT YEARS,A LIEN NOT YET DUE AND
PAYABLE.
7) TERMS, CONDITIONS AND PROVISIONS OF THE FOLLOWING UNRECORDED LEASES:
A. COMMERCIAL LEASE DATED AUGUST 20, 2014 BY AND BETWEEN VANQUISH VAIL I LLC,AS LANDLORD,
AND CASA MEXICO II, LLC,AS TENANT.
B. COMMERCIAL LEASE DATED JANUARY 1, 2014 BY AND BETWEEN VANQUISH VAIL I LLC,AS LANDLORD,
ANDY&Z, INC.,AS TENANT.
C. COMMERCIAL LEASE DATED JULY 30, 2007 BY AND BETWEEN VANQUISH VAIL I LLC,AS LANDLORD, AND
KTB INVESTMENTS, INC., SUCCESSOR-IN-INTEREST TO SIMPLY MASSAGE, INC., ERIK LARSSON AND
PHOEBE LARSSON,AS TENANT,AS MODIFIED BY MODIFICATION,ASSIGNMENT AND ASSUMPTION OF
LEASE,AND CONSENT DATED FEBRUARY 10, 2013.
D. RETAIL LEASE DATED SEPTEMBER 9, 2002 BY AND BETWEEN VANQUISH VAIL I LLC, SUCCESSOR-IN-
INTEREST TO DEBIR 2 HOLDINGS, INC.,AS LANDLORD,AND BIG ROCKS INC.,AS TENANT.
E. COMMERCIAL LEASE DATED NOVEMBER 1, 2010 BY AND BETWEEN VANQUISH VAIL I LLC,AS LANDLORD,
AND HOTSPUR SPORTS COMPANY, INC.,AS TENANT.
8) 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 HEREBY GRANTED,AND A
RIGHT OF WAY FOR DITCHES OR CANALS CONSTRUCTED BY THE AUTHORITY OF THE UNITED STATES,AS
RESERVED IN UNITED STATES PATENTS RECORDED AUGUST 11, 1900 IN BOOK 48 AT PAGE 236 AND
OCTOBER 4, 1918 IN BOOK 93 AT PAGE 301.
9) AN UNDIVIDED 1/2 INTEREST IN AND TO THE OIL, GAS AND MINERAL RIGHTS THEREIN AS RESERVED
IN DEED FROM PETER E. KATSOS AND CATHERINE KATSOS TO GUST KIAHTIPES AND NICK KIAHTIPES,
RECORDED JANUARY 2, 1960 IN BOOK 165 AT PAGE 133.
Land Title Guarantee Company Representing Old Republic National Title Insurance Company
(Schedule B)
Policy Number 0X50041784.1370271
Order Number 50041784
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,AND
EASEMENTS,AS CONTAINED IN INSTRUMENT RECORDED JULY 07, 1965, IN BOOK 190 AT PAGE 559 AND AS
AMENDED IN INSTRUMENT RECORDED JUNE 19, 1968, IN BOOK 212 AT PAGE 966 AND AS AMENDED IN
INSTRUMENT RECORDED FEBRUARY 16, 1970, IN BOOK 217 AT PAGE 78 AND AS AMENDED IN INSTRUMENT
RECORDED JULY 23, 1976, IN BOOK 247 AT PAGE 656.
11) EASEMENTS, CONDITIONS, COVENANTS, RESTRICTIONS, RESERVATIONS AND NOTES ON THE PLAT
OF VAIL DAS SCHONE - FILING NO. 3 RECORDED JULY 08, 1976 IN BOOK 247 AT PAGE 399.
12) A PERPETUAL EASEMENT 3.75 FEET IN WIDTH FOR GREEN BELT PURPOSES ALONG THE SOUTHERLY
153 FEET OF THE EAST LINE OF LOT 1, VAIL DAS SCHONE FILING NO. 3 AS RESERVED IN DEED RECORDED
JANUARY 3, 1978 IN BOOK 264 AT PAGE 144.
13) UNDERGROUND RIGHT OF WAY EASEMENT 10 FEET IN WIDTH AND LOCATED APPROXIMATELY
ALONG THE WESTERLY AND NORTHEASTERLY BOUNDARIES OF SUBJECT PROPERTY,AS GRANTED TO
HOLY CROSS ELECTRIC ASSOCIATION, INC. BY INSTRUMENT RECORDED SEPTEMBER 27, 1978 IN BOOK
275 AT PAGE 832.
14) UNDERGROUND RIGHT OF WAY EASEMENT GRANTED TO HOLY CROSS ELECTRIC ASSOCIATION, INC.
IN INSTRUMENT RECORDED SEPTEMBER 12, 1979 IN BOOK 290 AT PAGE 953.
15) EASEMENT FOR INGRESS AND EGRESS AS SET FORTH IN INSTRUMENT RECORDED JUNE 13, 1980 IN
BOOK 303 AT PAGE 992.
16) EASEMENTS, COVENANTS, CONDITIONS AND RESTRICTIONS, RESTRICTIONS AND NOTES ON THE
CONDOMINIUM MAP FOR INN AT WEST VAIL CONDOMINIUMS RECORDED NOVEMBER 15, 1983 IN BOOK 372
AT PAGE 866 AND RATIFICATION THERETO RECORDED JULY 15, 1994 IN BOOK 645 AT PAGE 430.
17) TERMS, CONDITIONS AND PROVISIONS OF EASEMENT AGREEMENT RECORDED SEPTEMBER 10,
1996 IN BOOK 704 AT PAGE 902.
NOTICE AS TO TERMINATION OF PARKING RIGHTS RECORDED SEPTEMBER 2, 2014 UNDER RECEPTION
NO. 201414884.
18) TERMS, CONDITIONS AND PROVISIONS OF AMENDED AND RESTATED RECIPROCAL EASEMENTS AND
COVENANTS AGREEMENT RECORDED MARCH 11, 2005 AT RECEPTION NO. 908944.
19) TERMS, CONDITIONS AND PROVISIONS OF THE CONDOMINIUM 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 LAW AS CONTAINED IN
INSTRUMENT RECORDED DECEMBER 27, 2004 RECEPTION NO. 901611 AND SECOND AMENDMENT
RECORDED MARCH 11, 2005 RECEPTION NO. 908943.
20) ANY FACTS, RIGHTS, INTERESTS OR CLAIMS WHICH MAY EXIST OR ARISE BY REASON OF THE
FOLLOWING FACTS SHOWN ON ALTA/ACSM LAND TITLE SURVEY CERTIFIED DECEMBER 30, 2015,
PREPARED BY INTER-MOUNTAIN ENGINEERING, JOB #15-0103
SAID DOCUMENT STORED AS OUR ESI 25884057
A. WATER LINES CROSSING THE SOUTHERLY SOUTHWESTERLY PORTION OF THE LAND, BUT NOT WITHIN
A RECORDED EASEMENT.
Land Title Guarantee Company Representing Old Republic National Title Insurance Company
(Schedule B)
Policy Number 0X50041784.1370271
Order Number 50041784
Patent-06
ENDORSEMENT
Attached to Policy No. 0X50041784.1370271
Our Order No. 50041784
Issued By
Old Republic National Title Insurance Company
The Company insures the Insured against loss or damage which the Insured shall sustain by reason of
damage to existing and future improvements, including lawns, shrubbery and trees resulting from the
exercise of any right to use the surface of the Land for enforcement of any of the reservations contained
in the Patent to the Land and excepted from the description of the Land or shown in Exception 8 of
Schedule B.
This endorsement is issued as part of the Policy. Except as it expressly states, it does not (i) modify any
of the terms and provisions of the Policy, (ii) modify any prior endorsements, (iii) extend the Date of
Policy, or (iv) increase the Amount of Insurance. To the extent a provision of the Policy or a previous
endorsement is inconsistent with an express provision of this endorsement, this endorsement controls.
Otherwise, this endorsement is subject to all of the terms and provisions of the Policy and of any prior
endorsements.
Old Republic National Title Insurance Company
By: Land Title Guarantee Company
By: 177
Authorized Signature
100.31-06 Surface Damage Minerals
Owner
ENDORSEMENT
Attached to Policy No. 0X50041784.1370271
Our Order No. 50041784
Issued By
Old Republic National Title Insurance Company
The Company insures the Insured against loss which the insured shall sustain by reason of: physical,
but not aesthetic damage to improvements existing on the Land at Date of Policy or constructed on the
Land after Date of Policy resulting from the exercise of any right to use the surface of the Land for the
extraction or development of the minerals, oil, gas, and coal as shown and excepted in Exception 9 in
Schedule B, subject, however, to the following terms and conditions:
1. The Insured shall notify the Company promptly in writing in case knowledge shall come to an
Insured hereunder of any actual or threatened exercise of the mineral rights.
2. The Company shall have the right, at its cost, to take any action which in its opinion may be
necessary or desirable in order for the Company to avoid or minimize the extent of its liability
under this endorsement, including, but to limited to, any or all of the following:
(a) In the Company's own right, or in the name of the Insured for the Company's benefit, to
institute, prosecute and pursue to final determination any proceedings at law or in equity, or
before any municipal, administrative, or regulatory tribunal or board:
(b) In the Company's own right, or in the name of the Insured for the Company's benefit, to
compel the giving of security bond or undertaking by the person or persons from whom the
Insured is entitled by law to such security, bond or undertaking, and in the same amount or
amounts to which the Insured would have been so entitled had this endorsement not been
issued; and
(c) to retain or be paid out of any such security, bond or undertaking, or out of any compensation
or funds recovered by the Company or the Insured, such amount as will reimburse the
Company for all Payments made to the Insured by the Company by reason of the insurance
afforded by this endorsement, together with all costs and expenses incurred by the Company
in connection therewith, including attorney's fees.
3. No rights, benefits or defenses are intended to or shall be deemed to flow or be made available
to any person or Entity other than the Insured by reason of the insurance afforded by this
endorsement, and the Insured agrees that all of the Insured's rights and remedies against third
parties relating to the subject matter of this endorsement shall be deemed to have remained
intact, in the same manner as if this endorsement had not been issued.
This endorsement is issued as part of the Policy. Except as it expressly states, it does not (i) modify any
of the terms and provisions of the Policy, (ii) modify any prior endorsements, (iii) extend the Date of
Policy, or (iv) increase the Amount of Insurance. To the extent a provision of the Policy or a previous
endorsement is inconsistent with an express provision of this endorsement, this endorsement controls.
100.31-06 Surface Damage Minerals
Owner
ENDORSEMENT
Attached to Policy No. 0X50041784.1370271
Our Order No. 50041784
Issued By
Old Republic National Title Insurance Company
Otherwise, this endorsement is subject to all of the terms and provisions of the policy and of any prior
endorsements
Old Republic National Title Insurance Company
By: Land Title Guarantee Company
By: ,24177
Authorized Signature
American Land Title Association Endorsement 9.2-06 Covenants, Conditions and Restrictions
Improved Land - Owner's Policy
Revised 04-02-12
ENDORSEMENT
Attached to Policy No. 0X50041784.1370271
Our Order No. 50041784
Issued By
Old Republic National Title Insurance Company
1. The insurance provided by this endorsement is subject to the exclusions in Section 4 of this
endorsement; and the Exclusions from Coverage, the Exceptions from Coverage contained in
Schedule B, and the Conditions in the policy.
2. For the purposes of this endorsement only,
(a) "Covenant" means a covenant, condition, limitation or restriction in a document or instrument
in effect at Date of Policy.
(b) "Improvement" means a building, structure located on the surface of the Land, road,
walkway, driveway, or curb, affixed to the Land at Date of Policy and that by law constitutes
real property, but excluding any crops, landscaping, lawn, shrubbery, or trees.
3. The Company insures against loss or damage sustained by the Insured by reason of:
(a) A violation on the Land at Date of Policy of an enforceable Covenant, unless an exception in
Schedule B of the policy identifies the violation;
(b) Enforced removal of an Improvement as a result of a violation, at Date of Policy, of a building
setback line shown on a plat of subdivision recorded or filed in the Public Records, unless an
exception in Schedule B of the policy identifies the violation; or
(c) A notice of a violation, recorded in the Public Records at Date of Policy, of an enforceable
Covenant relating to environmental protection describing any part of the Land and referring to
that Covenant, but only to the extent of the violation of the Covenant referred to in that notice,
unless an exception in Schedule B of the policy identifies the notice of the violation.
4. This endorsement does not insure against loss or damage (and the Company will not pay costs,
attorneys' fees, or expenses) resulting from:
(a) any Covenant contained in an instrument creating a lease;
(b) any Covenant relating to obligations of any type to perform maintenance, repair, or
Copyright 2006-2016 American Land Title Association. All Rights Reserved
AMERICAN
The use of this Form is restricted to ALTA licensees and ALTA members LAND TITLE
ASSOCIATION
in good standing as of the date of use. All other uses are prohibited.
Reprinted under license from the American Land Title Association.
American Land Title Association Endorsement 9.2-06 Covenants, Conditions and Restrictions
Improved Land - Owner's Policy
Revised 04-02-12
ENDORSEMENT
Attached to Policy No. 0X50041784.1370271
Our Order No. 50041784
Issued By
Old Republic National Title Insurance Company
remediation on the Land; or
(c) except as provided in Section 3.c., any Covenant relating to environmental protection of any
kind or nature, including hazardous or toxic matters, conditions, or substances.
This endorsement is issued as part of the policy. Except as it expressly states, it does not (i) modify any
of the terms and provisions of the policy, (ii) modify any prior endorsements, (iii) extend the Date of
Policy, or (iv) increase the Amount of Insurance. To the extent a provision of the policy or a previous
endorsement is inconsistent with an express provision of this endorsement, this endorsement controls.
Otherwise, this endorsement is subject to all of the terms and provisions of the policy and of any prior
endorsements.
Old Republic National Title Insurance Company
By: Land Title Guarantee Company
By: 21/ 177
Authorized Signature
Copyright 2006-2016 American Land Title Association. All Rights Reserved
AMERICAN
The use of this Form is restricted to ALTA licensees and ALTA members LAND TITLE
ASSOCIATION
in good standing as of the date of use. All other uses are prohibited.
Reprinted under license from the American Land Title Association.
American Land Title Association Endorsement 17-06 Access and Entry
ENDORSEMENT
Attached to Policy No. 0X50041784.1370271
Our Order No. 50041784
Issued By
Old Republic National Title Insurance Company
The Company insures against loss or damage sustained by the Insured if, at Date of Policy (i) the Land
does not abut and have both actual vehicular and pedestrian access to and from 1-70 NORTH
FRONTAGE ROAD (the "Street"), (ii) the Street is not physically open and publicly maintained, or (iii) the
Insured has no right to use existing curb cuts or entries along that portion of the Street abutting the
Land.
This endorsement is issued as part of the policy. Except as it expressly states, it does not (i) modify any
of the terms and provisions of the policy, (ii) modify any prior endorsements, (iii) extend the Date of
Policy, or (iv) increase the Amount of Insurance. To the extent a provision of the policy or a previous
endorsement is inconsistent with an express provision of this endorsement, this endorsement controls.
Otherwise, this endorsement is subject to all of the terms and provisions of the policy and of any prior
endorsements.
Old Republic National Title Insurance Company
By: Land Title Guarantee Company
By: 177
Authorized Signature
Copyright 2006-2016 American Land Title Association. All Rights Reserved
The use of this Form is restricted to ALTA licensees and ALTA members AMERICAN
in good standing as of the date of use. All other uses are prohibited. LAND TITLE
Reprinted under license from the American Land Title Association. ASSOCIATION
= TM
American Land Title Association Endorsement 3.1-06 Zoning-Completed Structure
Revised 10-22-09
ENDORSEMENT
Attached to Policy No. 0X50041784.1370271
Our Order No. 50041784
Issued By
Old Republic National Title Insurance Company
1. The Company insures against loss or damage sustained by the Insured in the event that, at Date
of Policy,
(a) according to applicable zoning ordinances and amendments, the Land is not classified Zone
Special Development District No. 25 with an underlying zoning of Commercial Core III;
(b) the following use or uses are not allowed under that classification: HOTEL, RESTAURANT,
RETAIL and SPA
(c) There shall be no liability under paragraph 1.b. if the use or uses are not allowed as the
result of any lack of compliance with any conditions, restrictions, or requirements contained
in the zoning ordinances and amendments, including but not limited to the failure to secure
necessary consents or authorizations as a prerequisite to the use or uses. This paragraph
1.c. does not modify or limit the coverage provided in Covered Risk 5.
2. The Company further insures against loss or damage sustained by the Insured by reason of a
final decree of a court of competent jurisdiction either prohibiting the use of the Land, with any
existing structure, as specified in paragraph 1.b. or requiring the removal or alteration of the
structure, because, at Date of Policy, the zoning ordinances and amendments have been
violated with respect to any of the following matters:
(a) Area, width, or depth of the Land as a building site for the structure
(b) Floor space area of the structure
(c) Setback of the structure from the property lines of the Land
(d) Height of the structure, or
(e) Number of parking spaces.
3. There shall be no liability under this endorsement based on:
(a) the invalidity of the zoning ordinances and amendments until after a final decree of a court of
competent jurisdiction adjudicating the invalidity, the effect of which is to prohibit the use or
uses;
(b) the refusal of any person to purchase, lease or lend money on the Title covered by this
policy.
This endorsement is issued as part of the policy. Except as it expressly states, it does not (i) modify any
Copyright 2006-2016 American Land Title Association. All Rights Reserved
AMERICAN
The use of this Form is restricted to ALTA licensees and ALTA members LAND TITLE
ASSOCIATION
in good standing as of the date of use. All other uses are prohibited.
Reprinted under license from the American Land Title Association.
American Land Title Association Endorsement 3.1-06 Zoning-Completed Structure
Revised 10-22-09
ENDORSEMENT
Attached to Policy No. 0X50041784.1370271
Our Order No. 50041784
Issued By
Old Republic National Title Insurance Company
of the terms and provisions of the policy, (ii) modify any prior endorsements, (iii) extend the Date of
Policy, or (iv) increase the Amount of Insurance. To the extent a provision of the policy or a previous
endorsement is inconsistent with an express provision of this endorsement, this endorsement controls.
Otherwise, this endorsement is subject to all of the terms and provisions of the policy and of any prior
endorsements.
Old Republic National Title Insurance Company
By: Land Title Guarantee Company
By: 177
Authorized Signature
Copyright 2006-2016 American Land Title Association. All Rights Reserved
AMERICAN
The use of this Form is restricted to ALTA licensees and ALTA members LAND TITLE
ASSOCIATION
in good standing as of the date of use. All other uses are prohibited.
Reprinted under license from the American Land Title Association.
American Land Title Association Endorsement 18.1-06 Multiple Tax Parcel
Adopted 6-17-06
ENDORSEMENT
Attached to Policy No. 0X50041784.1370271
Our Order No. 50041784
Issued By
Old Republic National Title Insurance Company
The Company insures against loss or damage sustained by the Insured by reason of:
1. those portions of the Land identified below not being assessed for real estate taxes under the
listed tax identification numbers or those tax identification numbers including any additional land:
PARCEL A: R012376
PARCEL B: R012351, R012352, R012353, R012356, R012357, R012358, R012359, R012361,
R012362, R012363, R012364, R012366, R012367, R012368, R012369, R012371, R012372,
R012373 and R012374
2. the easements, if any, described in Schedule A being cut off or disturbed by the nonpayment of
real estate taxes, assessments or other charges imposed on the servient estate by a
governmental authority.
This endorsement is issued as part of the policy. Except as it expressly states, it does not (i) modify any
of the terms and provisions of the policy, (ii) modify any prior endorsements, (iii) extend the Date of
Policy, or (iv) increase the Amount of Insurance. To the extent a provision of the policy or a previous
endorsement is inconsistent with an express provision of this endorsement, this endorsement controls.
Otherwise, this endorsement is subject to all of the terms and provisions of the policy and of any prior
endorsements.
Old Republic National Title Insurance Company
By: Land Title Guarantee Company
BY: 24 177
Authorized Signature
Copyright 2006-2016 American Land Title Association. All Rights Reserved
AMERICAN
The use of this Form is restricted to ALTA licensees and ALTA members LAND TITLE
ASSOCIATION
in good standing as of the date of use. All other uses are prohibited.
Reprinted under license from the American Land Title Association.
American Land Title Association Endorsement 25-06 Same as Survey
Adopted 10-16-08
ENDORSEMENT
Attached to Policy No. 0X50041784.1370271
Our Order No. 50041784
Issued By
Old Republic National Title Insurance Company
The Company insures against loss or damage sustained by the Insured by reason of the failure of the
Land as described in Schedule A to be the same as that identified on the survey made by INTER-
MOUNTAIN ENGINEERING dated DECEMBER 30, 2015 and designated Job No. 15-0103.
This endorsement is issued as part of the policy. Except as it expressly states, it does not (i) modify any
of the terms and provisions of the policy, (ii) modify any prior endorsements, (iii) extend the Date of
Policy, or (iv) increase the Amount of Insurance. To the extent a provision of the policy or a previous
endorsement is inconsistent with an express provision of this endorsement, this endorsement controls.
Otherwise, this endorsement is subject to all of the terms and provisions of the policy and of any prior
endorsements.
Old Republic National Title Insurance Company
By: Land Title Guarantee Company
By:
Authorized Signature
Copyright 2006-2016 American Land Title Association. All Rights Reserved
AMERICAN
The use of this Form is restricted to ALTA licensees and ALTA members LAND TITLE
ASSOCIATION
in good standing as of the date of use. All other uses are prohibited.
Reprinted under license from the American Land Title Association.
American Land Title Association Endorsement 26-06 Subdivision
Adopted 10-16-08
ENDORSEMENT
Attached to Policy No. 0X50041784.1370271
Our Order No. 50041784
Issued By
Old Republic National Title Insurance Company
The Company insures against loss or damage sustained by the Insured by reason of the failure of the
Land to constitute a lawfully created parcel according to the subdivision statutes and local subdivision
ordinances applicable to the Land.
This endorsement is issued as part of the policy. Except as it expressly states, it does not (i) modify any
of the terms and provisions of the policy, (ii) modify any prior endorsements, (iii) extend the Date of
Policy, or (iv) increase the Amount of Insurance. To the extent a provision of the policy or a previous
endorsement is inconsistent with an express provision of this endorsement, this endorsement controls.
Otherwise, this endorsement is subject to all of the terms and provisions of the policy and of any prior
endorsements.
Old Republic National Title Insurance Company
By: Land Title Guarantee Company
By: 177
Authorized Signature
Copyright 2006-2016 American Land Title Association. All Rights Reserved
AMERICAN
The use of this Form is restricted to ALTA licensees and ALTA members LAND TITLE
ASSOCIATION
in good standing as of the date of use. All other uses are prohibited.
Reprinted under license from the American Land Title Association.
American Land Title Association Endorsement 22-06 Location
Adopted 6-17-06
ENDORSEMENT
Attached to Policy No. 0X50041784.1370271
Our Order No. 50041784
Issued By
Old Republic National Title Insurance Company
The Company insures against loss or damage sustained by the Insured by reason of the failure of a
FOUR STORY BUILDING, known as 2211 NORTH FRONTAGE ROAD WEST, to be located on the
Land at Date of Policy.
This endorsement is issued as part of the policy. Except as it expressly states, it does not (i) modify any
of the terms and provisions of the policy, (ii) modify any prior endorsements, (iii) extend the Date of
Policy, or (iv) increase the Amount of Insurance. To the extent a provision of the policy or a previous
endorsement is inconsistent with an express provision of this endorsement, this endorsement controls.
Otherwise, this endorsement is subject to all of the terms and provisions of the policy and of any prior
endorsements.
Old Republic National Title Insurance Company
By: Land Title Guarantee Company
By: 24 177
Authorized Signature
Copyright 2006-2016 American Land Title Association. All Rights Reserved
AMERICAN
The use of this Form is restricted to ALTA licensees and ALTA members LAND TITLE
ASSOCIATION
in good standing as of the date of use. All other uses are prohibited.
Reprinted under license from the American Land Title Association.
American Land Title Association Endorsement 17.2-06 Utility Access
Adopted 10-16-08
ENDORSEMENT
Attached to Policy No. 0X50041784.1370271
Our Order No. 50041784
Issued By
Old Republic National Title Insurance Company
The Company insures against loss or damage sustained by the Insured by reason of the lack of a right
of access to the following utilities or services: [CHECK ALL THAT APPLY]
X Water Service X Natural Gas Service X Telephone Service
X Sanitary Sewer X Storm Water Drainage X Electrical Power Service
either over, under or upon rights-of-way or easements for the benefit of the Land because of:
1. a gap or gore between the boundaries of the Land and the rights-of-way or easements;
2. a gap between the boundaries of the rights-of-way or easements ; or
3. a termination by a grantor, or its successor, of the rights-of-way or easements.
This endorsement is issued as part of the policy. Except as it expressly states, it does not (i) modify any
of the terms and provisions of the policy, (ii) modify any prior endorsements, (iii) extend the Date of
Policy, or (iv) increase the Amount of Insurance. To the extent a provision of the policy or a previous
endorsement is inconsistent with an express provision of this endorsement, this endorsement controls.
Otherwise, this endorsement is subject to all of the terms and provisions of the policy and of any prior
endorsements.
Old Republic National Title Insurance Company
By: Land Title Guarantee Company
By:
Authorized Signature
Copyright 2006-2016 American Land Title Association. All Rights Reserved
AMERICAN
The use of this Form is restricted to ALTA licensees and ALTA members LAND TITLE
ASSOCIATION
in good standing as of the date of use. All other uses are prohibited.
Reprinted under license from the American Land Title Association.
American Land Title Association Endorsement 19-06 Contiguity- Multiple Parcels
Adopted 6-17-06
ENDORSEMENT
Attached to Policy No. 0X50041784.1370271
Our Order No. 50041784
Issued By
Old Republic National Title Insurance Company
The Company insures against loss or damage sustained by the Insured by reason of:
1. the failure PARCELS A AND B of the Land to be contiguous to PARCELS B-1 AND C; or
2. the presence of any gaps, strips, or gores separating any of the contiguous boundary lines
described above.
This endorsement is issued as part of the policy. Except as it expressly states, it does not (i) modify any
of the terms and provisions of the policy, (ii) modify any prior endorsements, (iii) extend the Date of
Policy, or (iv) increase the Amount of Insurance. To the extent a provision of the policy or a previous
endorsement is inconsistent with an express provision of this endorsement, this endorsement controls.
Otherwise, this endorsement is subject to all of the terms and provisions of the policy and of any prior
endorsements.
Old Republic National Title Insurance Company
By: Land Title Guarantee Company
By: 177
Authorized Signature
Copyright 2006-2016 American Land Title Association. All Rights Reserved
AMERICAN
The use of this Form is restricted to ALTA licensees and ALTA members LAND TITLE
ASSOCIATION
in good standing as of the date of use. All other uses are prohibited.
Reprinted under license from the American Land Title Association.
Arbitration Deletion-06
ENDORSEMENT
Attached to Policy No. 0X50041784.1370271
Our Order No. 50041784
Issued By
Old Republic National Title Insurance Company
Condition 14 of the policy, entitled Arbitration, is hereby modified so as to remove the Company's right
to demand arbitration.
This endorsement is issued as part of the Policy. Except as it expressly states, it does not (i) modify any
of the terms and provisions of the Policy, (ii) modify any prior endorsements, (iii) extend the Date of
Policy, or (iv) increase the Amount of Insurance. To the extent a provision of the Policy or a previous
endorsement is inconsistent with an express provision of this endorsement, this endorsement controls.
Otherwise, this endorsement is subject to all of the terms and provisions of the Policy and of any prior
endorsements.
Old Republic National Title Insurance Company
By: Land Title Guarantee Company
By:
Authorized Signature
American Land Title Association Endorsement 4.1-06 Condominium
Revised 10-16-08
ENDORSEMENT
Attached to Policy No. 0X50041784.1370271
Our Order No. 50041784
Issued By
Old Republic National Title Insurance Company
The Company insures against loss or damage sustained by the Insured by reason of:
1. The failure of the unit identified in Schedule A and its common elements to be part of a
condominium within the meaning of the condominium statutes of the jurisdiction in which the unit
and its common elements are located.
2. The failure of the documents required by the condominium statutes to comply with the
requirements of the statutes to the extent that such failure affects the Title to the unit and its
common elements.
3. Present violations of any restrictive covenants that restrict the use of the unit and its common
elements and that are contained in the condominium documents or the forfeiture or reversion of
Title by reason of any provision contained in the restrictive covenants. As used in this paragraph
3, the words "restrictive covenants" do not refer to or include any covenant, condition, or
restriction (a) relating to obligations of any type to perform maintenance, repair, or remediation
on the Land, or (b) pertaining to environmental protection of any kind or nature, including
hazardous or toxic matters, conditions, or substances, except to the extent that a notice of a
violation or alleged violation affecting the Land has been recorded in the Public Records at Date
of Policy and is not excepted in Schedule B.
4. Any charges or assessments provided for in the condominium statutes and condominium
documents due and unpaid at Date of Policy.
5. The failure of the unit and its common elements to be entitled by law to be assessed for real
property taxes as a separate parcel.
6. Any obligation to remove any improvements that exist at Date of Policy because of any present
encroachments or because of any future unintentional encroachment of the common elements
upon any unit or of any unit upon the common elements or another unit.
7. The failure of the Title by reason of a right of first refusal to purchase the unit and its common
elements which was exercised or could have been exercised at Date of Policy.
This endorsement is issued as part of the policy. Except as it expressly states, it does not (i) modify any
of the terms and provisions of the policy, (ii) modify any prior endorsements, (iii) extend the Date of
Policy, or (iv) increase the Amount of Insurance. To the extent a provision of the policy or a previous
endorsement is inconsistent with an express provision of this endorsement, this endorsement controls.
Otherwise, this endorsement is subject to all of the terms and provisions of the policy and of any prior
endorsements.
Copyright 2006-2016 American Land Title Association. All Rights Reserved
AMERICAN
The use of this Form is restricted to ALTA licensees and ALTA members LAND TITLE
ASSOCIATION
in good standing as of the date of use. All other uses are prohibited.
Reprinted under license from the American Land Title Association.
American Land Title Association Endorsement 4.1-06 Condominium
Revised 10-16-08
ENDORSEMENT
Attached to Policy No. 0X50041784.1370271
Our Order No. 50041784
Issued By
Old Republic National Title Insurance Company
Old Republic National Title Insurance Company
By: Land Title Guarantee Company
By: )4 177 g".1"--
Authorized Signature
Copyright 2006-2016 American Land Title Association. All Rights Reserved
AMERICAN
The use of this Form is restricted to ALTA licensees and ALTA members LAND TITLE
ASSOCIATION
in good standing as of the date of use. All other uses are prohibited.
Reprinted under license from the American Land Title Association.
Lack of Signatures
ENDORSEMENT
Attached to Policy No.OX50041784.1370271
Our Order No. 50041784
Issued By
Old Republic National Title Insurance Company
The Company assures the Insured that the Company will not deny liability under the Policy or any
endorsements issued solely on the grounds that the policy and/or endorsement(s) were issued
electronically and/or lack signatures in accordance with paragraph 15(c) of the Conditions, if the policy is
a 2006 Owner's Policy, or paragraph 14(c) of the Conditions, if the policy is a 2006 ALTA Loan Policy.
This endorsement is issued as part of the Policy. Except as it expressly states, it does not (i) modify any
of the terms and provisions of the Policy, (ii) modify any prior endorsements, (iii) extend the Date of
Policy, or (iv) increase the Amount of Insurance. To the extent a provision of the Policy or a previous
endorsement is inconsistent with an express provision of this endorsement, this endorsement controls.
Otherwise, this endorsement is subject to all of the terms and provisions of the Policy and of any prior
endorsements.
Old Republic National Title Insurance Company
By: Land Title Guarantee Company
By: )1/ 177
Authorized Signature