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HomeMy WebLinkAboutTITLE REPORT A&B.pdf Chicago Title Insurance Company ALTA COMMITMENT Our Order No. V50002630 Schedule A Cust.Ref.: Property Address: 1454 GREENHILL COURT VAIL, CO 81657 1. Effective Date: August 19, 2003 at 5:00 P.M. 2. Policy to be Issued, and Proposed Insured: "ALTA" Owner's Policy 10-17-92 $927,500.00 Proposed Insured: JOHN LANDERS AND DEBRA LANDERS 3. The estate or interest in the land described or referred to in this Commitment and covered herein is: A Fee Simple 4. Title to the estate or interest covered herein is at the effective date hereof vested in: 1999 MARCUS W. ACHESON IV QUALIFIED PERSONAL RESIDENCE TRUST DATED APRIL 8, 1999, AS TO AN UNDIVIDED ONE-HALF INTEREST AND 1999 IRMELA ACHESON QUALIFIED PERSONAL RESIDENCE TRUST DATED APRIL 8, 1999, AS TO AN UNDIVIDED ONE-HALF INTEREST 5. The land referred to in this Commitment is described as follows: LOT IW, GLEN LYON SUBDIVISION (AMENDED PLAT), A RESUBDIVISION OF LOT I, ACCORDING TO THE PLAT RECORDED MARCH 11, 1998 AS RECEPTION NO. 649388, COUNTY OF EAGLE, STATE OF COLORADO. ALTA COMMITMENT Schedule 13- Section 1 (Requirements) Our Order No. V50002630 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: Item(c)Payment of all taxes, charges or assessments levied and assessed against the subject premises which are due and payable. Item(d)Additional requirements, if any disclosed below: 1. DULY EXECUTED AND ACKNOWLEDGED STATEMENT OF AUTHORITY SETTING FORTH THE NAME OF 1999 MARCUS W. ACHESON IV QUALIFIED PERSONAL RESIDENCE TRUST DATED APRIL 8, 1999 AS A TRUST. THE STATEMENT OF AUTHORITY MUST STATE UNDER WHICH LAWS THE TRUST WAS CREATED, THE MAILING ADDRESS FOR THE TRUST, THE NAME AND POSITION OF THE PERSON(S) AUTHORIZED TO EXECUTE INSTRUMENTS CONVEYING, ENCUMBERING, OR OTHERWISE AFFECTING TITLE TO REAL PROPERTY ON BEHALF OF THE TRUST AND OTHERWISE COMPLYING WITH THE PROVISIONS OF SECTION 38-30-172, CRS. 2. DULY EXECUTED AND ACKNOWLEDGED STATEMENT OF AUTHORITY SETTING FORTH THE NAME OF 1999 IRMELA ACHESON QUALIFIED PERSONAL RESIDENCE TRUST DATED APRIL 8, 1999 AS A TRUST. THE STATEMENT OF AUTHORITY MUST STATE UNDER WHICH LAWS THE TRUST WAS CREATED, THE MAILING ADDRESS FOR THE TRUST, THE NAME AND POSITION OF THE PERSON(S)AUTHORIZED TO EXECUTE INSTRUMENTS CONVEYING, ENCUMBERING, OR OTHERWISE AFFECTING TITLE TO REAL PROPERTY ON BEHALF OF THE TRUST AND OTHERWISE COMPLYING WITH THE PROVISIONS OF SECTION 38-30-172, CRS. 3. RELEASE OF DEED OF TRUST DATED OCTOBER 28, 1998 FROM ACI ESON REAL ESTATE TRUST DATED OCTOBER 19, 1998 TO THE PUBLIC TRUSTEE OF EAGLE COUNTY FOR THE USE OF THE NORTHERN TRUST COMPANY TO SECURE THE SUM OF$600,000.00 RECORDED NOVEMBER 05, 1998, UNDER RECEPTION NO. 675022. 4. EVIDENCE SATISFACTORY TO THE COMPANY THAT THE TERMS, CONDITIONS AND PROVISIONS OF THE TOWN OF VAIL TRANSFER TAX HAVE BEEN SATISFIED. 5. WARRANTY DEED FROM 1999 MARCUS W. ACHESON IV QUALIFIED PERSONAL RESIDENCE TRUST DATED APRIL 8, 1999, AS TO AN UNDIVIDED ONE-HALF INTEREST AND 1999 IRMELA ACHESON QUALIFIED PERSONAL RESIDENCE TRUST DATED APRIL 8, 1999, AS ALTA COMMITMENT Schedule B- Section 1 (Requirements) Our Order No. V50002630 Continued: TO AN UNDIVIDED ONE-HALF INTEREST TO JOHN LANDERS AND DEBRA LANDERS CONVEYING SUBJECT PROPERTY. THE FOLLOWING DELETIONS/MODIFICATIONS ARE FOR THE OWNER'S POLICY. NOTE: ITEMS 1-3 OF THE GENERAL EXCEPTIONS ARE HEREBY DELETED. UPON THE APPROVAL OF THE COMPANY AND THE RECEIPT OF A NOTARIZED FINAL LIEN AFFIDAVIT, ITEM NO. 4 OF THE GENERAL EXCEPTIONS WILL BE AMENDED AS FOLLOWS: ITEM NO. 4 OF THE GENERAL EXCEPTIONS IS DELETED AS TO ANY LIENS OR FUTURE LIENS RESULTING FROM WORK OR MATERIAL FURNISHED AT THE REQUEST OF 1999 MARCUS W. ACHESON IV QUALIFIED PERSONAL RESIDENCE TRUST DATED APRIL 8, 1999, AS TO AN UNDIVIDED ONE-HALF INTEREST AND 1999 IRMELA ACHESON QUALIFIED PERSONAL RESIDENCE TRUST DATED APRIL 8, 1999, AS TO AN UNDIVIDED ONE-HALF INTEREST. CHICAGO TITLE INSURANCE COMPANY SHALL HAVE NO LIABILITY FOR ANY LIENS ARISING FROM WORK OR MATERIAL FURNISHED AT THE REQUEST OF JOHN LANDERS AND DEBRA LANDERS. NOTE: ITEM 5 OF THE GENERAL EXCEPTIONS WILL BE DELETED IF LAND TITLE GUARANTEE COMPANY CONDUCTS THE CLOSING OF THE CONTEMPLATED TRANSACTION(S) AND RECORDS THE DOCUMENTS IN CONNECTION THEREWITH. NOTE: UPON PROOF OF PAYMENT OF ALL TAXES, ITEM 6 WILL BE AMENDED TO READ: TAXES AND ASSESSMENTS FOR THE YEAR 2003 AND SUBSEQUENT YEARS. ITEM 7 UNDER SCHEDULE B-2 WILL BE DELETED UPON PROOF THAT THE WATER AND SEWER CHARGES ARE PAID UP TO DATE. **********NOTICE OF FEE CHANGE, EFFECTIVE SEPTEMBER 1, 2002 ********** Pursuant to Colorado Revised Statute 30-10-421, "The county clerk and recorder shall collect a surcharge of$1.00 for each document received for recording or filing in his or her office. The surcharge shall be in addition to any other fees permitted by statute." ALTA COMMITMENT Schedule B - Section 2 (Exceptions) Our Order No. V50002630 The policy or policies to be issued will contain exceptions to the following unless the same are disposed of to the satisfaction of the Company: 1. Rights or claims of parties in possession not shown by the public records. 2. Easements, or claims of easements, not shown by the public records. 3. 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 theretofore 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 the proposed insured acquires of record for value the estate or interest or mortgage thereon covered by this Commitment. 6. Taxes or special assessments which are not shown as existing liens by the public records. 7. Liens for unpaid water and sewer charges, if any. 8. In addition, the owner's policy will be subject to the mortgage, if any, noted in Section 1 of Schedule B hereof. 9. RIGHT OF PROPRIETOR OF A VEIN OR LODE TO EXTRACT AND REMOVE HIS ORE THEREFROM SHOULD THE SAME BE FOUND TO PENETRATE OR INTERSECT THE PREMISES AS RESERVED IN UNITED STATES PATENT RECORDED AUGUST 16, 1909, IN BOOK 48 AT PAGE 542. 10. RIGHT OF WAY FOR DITCHES OR CANALS CONSTRUCTED BY THE AUTHORITY OF THE UNITED STATES AS RESERVED IN UNITED STATES PATENT RECORDED AUGUST 16, 1909, IN BOOK 48 AT PAGE 542. 11. RESTRICTIVE COVENANTS, WHICH DO NOT CONTAIN A FORFEITURE OR REVERTER CLAUSE, BUT OMITTING RESTRICTIONS, IF ANY, BASED ON RACE, COLOR, RELIGION, OR NATIONAL ORIGIN, AS CONTAINED IN INSTRUMENT RECORDED APRIL 04, 1978, IN BOOK 268 AT PAGE 698 AND AS AMENDED IN INSTRUMENT RECORDED AUGUST 25, 1987, IN BOOK 468 AT PAGE 447 THROUGH 472 AND AS AMENDED IN INSTRUMENT RECORDED SEPTEMBER 15, 1987, IN BOOK 469 AT PAGE 801, AND AS AMENDED IN INSTRUMENT RECORDED MAY 2, 1990 IN BOOK 528 AT PAGE 154. 12. EASEMENTS, CONDITIONS, COVENANTS, RESTRICTIONS, RESERVATIONS AND NOTES ON THE RECORDED PLAT OF GLEN LYON SUBDIVISION. ALTA COMMITMENT Schedule B- Section 2 (Exceptions) Our Order No. V50002630 The policy or policies to be issued will contain exceptions to the following unless the same are disposed of to the satisfaction of the Company: 13. EASEMENTS, RESERVATIONS, AND RESTRICTIONS AS SHOWN OR RESERVED ON THE RESUBDIVISION PLAT RECORDED MARCH 11, 1998 AS RECEPTION NO. 649388. 14. TERMS, CONDITIONS AND PROVISIONS OF PARTYWALL AGREEMENT RECORDED MARCH 11, 1998 UNDER RECEPTION NO. 649389. 15. PLAT NOTE AS CONTAINED IN RESUBDIVISION PLAT RECORDED MARCH 11, 1998 RECEPTION NO. 649388: FOR ZONING PURPOSES, THE TWO LOTS CREATED BY THIS SUBDIVISION ARE TO BE TREATED AS ONE ENTITY WITH NO MORE THAN ONE TWO FAMILY RESIDENCE ALLOWED ON THE COMBINED AREA OF THE TWO LOTS. 16. TERMS, CONDITIONS AND PROVISIONS OF AMENDED DECLARATION AND PARTY WALL AGREEMENT RECORDED APRIL 23, 1998 UNDER RECEPTION NO. 653485. 17. ACCESS EASEMENT AND ENCROACHMENT OF CONCRETE STAIRS AS SHOWN ON IMPROVEMENT LOCATION CERTIFICATE PREPARED BY CONTRA LTD. DATED MARCH 20, 1998. LAND TITLE GUARANTEE COMPANY DISCLOSURE STATEMENTS Note: Pursuant to CRS 10-11-122, notice is hereby given that: A) The subject real property may be located in a special taxing district. B) A Certificate of Taxes Due listing each taxing jurisdiction may be obtained from the County Treasurer's authorized agent. C) The information regarding special districts and the boundaries of such districts may be obtained from the Board of County Commissioners, the County Clerk and Recorder,or the County Assessor. Note: Effective September 1, 1997, CRS 30-10-406 requires that all documents received for recording or filing in the clerk and recorder's office shall contain a top margin of at least one inch and a left, right and bottom margin of at least one half of an inch. The clerk and recorder may refuse to record or file any document that does not conform, except that, the requirement for the top margin shall not apply to documents using forms on which space is provided for recording or filing information at the top margin of the document. Note: Colorado Division of Insurance Regulations 3-5-1, Paragraph C of Article VII requires that "Every title entity shall he responsible for all matters which appear of record prior to the time of recording whenever the title entity conducts the closing and is responsible for recording or filing of legal documents resulting from the transaction which was closed". Provided that Land Title Guarantee Company conducts the closing of the insured transaction and is responsible for recording the legal documents from the transaction, exception number 5 will not appear on the Owner's Title Policy and the Lenders Policy when issued. Note: Affirmative mechanic's lien protection for the Owner may be available(typically by deletion of Exception no. 4 of Schedule B, Section 2 of the Commitment from the Owner's Policy to be issued)upon compliance with the following conditions: A)The land described in Schedule A of this commitment must be a single family residence which includes a condominium or townhouse unit. B)No labor or materials have been furnished by mechanics or material-men for purposes of construction on the land described in Schedule A of this Commitment within the past 6 months. C)The Company must receive an appropriate affidavit indemnifying the Company against un-filed mechanic's and material-men's liens. D)The Company must receive payment of the appropriate premium. E)If there has been construction, improvements or major repairs undertaken on the property to be purchased within six months prior to the Date of the Commitment, the requirements to obtain coverage for unrecorded liens will include: disclosure of certain construction information; financial information as to the seller, the builder and or the contractor; payment of the appropriate premium fully executed Indemnity Agreements satisfactory to the company, and, any additional requirements as may be necessary after an examination of the aforesaid information by the Company. No coverage will be given under any circumstances for labor or material for which the insured has contracted for or agreed to pay. Note: Pursuant to CRS 10-11-123, notice is hereby given: This notice applies to owner's policy commitments containing a mineral severance instrument exception, or exceptions, in Schedule B, Section 2. A)That there is recorded evidence that a mineral estate has been severed, leased, or otherwise conveyed from the surface estate and that there is a substantial likelihood that a third party holds some or all interest in oil, gas, other minerals, or geothermal energy in the property; and B)That such mineral estate may include the right to enter and use the property without the surface owner's permission. Nothing herein contained will be deemed to obligate the company to provide any of the coverages referred to herein unless the above conditions are fully satisfied. Form DISCLOSURE 09/01/02 JOINT NOTICE OF PRIVACY POLICY Fidelity National Financial Group of Companies/Chicago Title Insurance Company and Land Title Guarantee Company July 1, 2001 We recognize and respect the privacy expectations of today's consumers and the requirements of applicable federal and state privacy laws. We believe that making you aware of how we use your non-public personal information("Personal Information"), and to whom it is disclosed, will form the basis for a relationship of trust between us and the public that we serve. This Privacy Statement provides that explanation. We reserve the right to change this Privacy Statement from time to time consistent with applicable privacy laws. In the course of our business, we may collect Personal Information about you from the following sources: * From applications or other forms we receive from you or your authorized representative; * From your transactions with, or from the services being performed by, us, our affiliates, or others; * From our internes web sites= * From the public records maintained by governmental entities that we either obtain directly from those entities, or from our affiliates or others; and * From consumer or other reporting agencies. Our Policies Regarding the Protection of the Confidentiality and Security of Your Personal Information We maintain physical, electronic and procedural safeguards to protect your Personal Information from unauthorized access or intrusion. We limit access to the Personal Information only to those employees who need such access in connection with providing products or services to you or for other legitimate business purposes. Our Policies and Practices Regarding the Sharing of Your Personal Information We may share your Personal Information with our affiliates, such as insurance companies, agents, and other real estate settlement service providers. We also may disclose your Personal Information: * to agents, brokers or representatives to provide you with services you have requested; * to third-party contractors or service providers who provide services or perform marketing or other functions on our behalf; and * to others with whom we enter into joint marketing agreements for products or services that we believe you may find of interest. In addition, we will disclose your Personal Information when you direct or give us permission, when we are required by law to do so, or when we suspect fraudulent or criminal activities. We also may disclose your Personal Information when otherwise permitted by applicable privacy laws such as, for example, when disclosure is needed to enforce our rights arising out of any agreement, transaction or relationship with you. One of the important responsibilities of some of our affiliated companies is to record documents in the public domain. Such documents may contain your Personal Information. • Right to Access Your Personal Information and Ability to Correct Errors Or Request Changes Or Deletion Certain states afford you the right to access your Personal Information and, under certain circumstances, to find out to whom your Personal Information has been disclosed. Also, certain states afford you the right to request correction, amendment or deletion of your Personal Information. We reserve the right , where permitted by law, to charge a reasonable fee to cover the costs incurred in responding to such requests. All requests submitted to the Fidelity National Financial Group of Companies/Chicago Title Insurance Company shall be in writing, and delivered to the following address: Privacy Compliance Officer Fidelity National Financial, Inc. 4050 Calle Real, Suite 220 Santa Barbara, CA 93110 Multiple Products or Services If we provide you with more than one financial product or service, you may receive more than one privacy notice from us. We apologize for any inconvenience this may cause you. Form PRIV.POL.CHI PURCHASER FINAL AFFIDAVIT AND AGREEMENT RE: Commitment No. V50002630 Escrow No. V50002630 State of Colorado, County of EAGLE RE: Real property and improvements located at: 1454 GREENHILL COURT, VAIL, CO 81657 in the County of EAGLE State of Colorado, and more particularly described as follows: LOT 1W, GLEN LYON SUBDIVISION (AMENDED PLAT) , A RESUBDIVISION OF LOT 1, ACCORDING TO THE PLAT RECORDED MARCH 11, 1998 AS RECEPTION NO. 649388, COUNTY OF EAGLE, STATE OF COLORADO. Whereas, Land Title Guarantee Company has issued its Commitment No. V50002630 covering said property, The Undersigned, Purchaser of the Real Estate and improvements located on the herein described property, being first duly sworn on oath, for the purpose of inducing Land Title Guarantee Company to issue its ALTA Policy of Title Insurance, in connection with the property described in said commitment, do hereby make the following representations to Land Title Guarantee Company, with full knowledge and intent that said company shall rely thereon: 1. That those certain persons, firms and corporations, including the General Contractors, and all subcontractors hired by or under contract with the undersigned who have furnished services, labor or materials, according to plans and specifications or otherwise, used in connection with the construction of improvements on the real estate herein described, have been paid in full. 2. That no claims have been made to the undersigned, nor is any suit now pending on behalf of any contractor, subcontractor, laborer or materialman, nor any other suit of any kind, and that no chattel mortgages, conditional bills of sale, security agreements or financing statements have been made. Further, there are no liens or encumbrances recorded or unrecorded affecting the subject property. 3. That there has been no architectural service or other work of any kind, contracted for or otherwise ordered by the undersigned, within the last 120 days, paid or unpaid, which could establish a priority for any future mechanics' lien claimant. If services or other work has been contracted for within the preceding 120 days, undersigned is required to attach a description of same with the corresponding payment information. 4. That the purchaser(s) have or will take possession of the premises on or about September 19, 2003 5. That the full purchase price has been paid by said purchaser(s) to said Owner-Seller. If any deed of trust recorded against my property secures an open line of credit or a revolving line of _ credit, I/we affirm that I/we have not drawn additional funds from the line of credit since the date of the payoff statement from my/our lender to Land Title Guarantee Company. IIWe further agree and affirm that I/we will not make any further draws on the line of credit after the date of this affidavit. IIWe further affirm that Ilwe have not taken out any loans against our property other than those shown on the above referenced commitment number. In light of the foregoing facts and representations, the undersigned, in consideration of the issuance by Land Title Guarantee Company of a policy of Title Insurance covering said property in the manner described by the undersigned as set out above, hereby promise, covenant and agree to hold harmless, protect and indemnify Land Title Guarantee Company, and any title insurance company that has issued an ALTA Policy of insurance pursuant to the commitment described above, from and against those liabilities, losses, damages, expenses and charges, including but not limited to reasonable attorneys' fees (including attorney's fees in the enforcement of this agreement) and expenses of litigation arising out of any inaccuracies in the above representations. Owner(s) Forwarding Address: Al 2530 OUTLOOK TRAIL If -•'''. BROOMFIELD, CO 80020 ,� • ;. ‘, DEBRA ANDERS STATE OF COLORADO } COUNTY OF � "" The foregoing instrument was acknowledged before me on this day of September 19, 2003 by JOHN LANDERS AND DEBRA LANDERS WITNE S MY HAND ALS[ OF 21AL SEAL. My Commission Expires:5 / b 4 - Form AFF.PUR (1012o01) Notary Public AFFIDAVIT (Entity - Transferor) TO : JOHN LANDERS AND DEBRA LANDERS Transferee (Buyer) Section 1445 of the Internal Revenue Code provides that a transferee (buyer) of a U.S . real property interest must withhold tax if the trans- feror (seller) is a foreign person. To inform the transferee (buyer) that withholding of tax is not required upon the disposition of a U.S . real property interest 1999 MARCUS W. ACHESON IV QUALIFIED PERSONAL RESIDENCE TRUST DATED APRIL 8 , 1999 AND 1999 IRMELA ACHESON QUALIFIED PERSONAL RESIDENCE hereinafter referred to as the transferor, certifies the following; 1 . The transferor is not a foreign corporation, foreign partner- ship, foreign trust, or foreign estate (as those terms are defined in the Internal Revenue Code and Income Tax Regulations) ; 2 . The transferor ' s U.S . employer identification number is 112-34-8833 , and 3 . The transferor ' s office address is : PO BOX 151 BARRINGTON HILLS, IL 60011 The transferor understands that this certification may be disclosed to the Internal Revenue Service by transferee and that any false statement contained herein could be punished by fine, imprisonment, or both. Under penalties of perjury I declare that I have examined this certification and to the best of my knowledge and belief it is true, correct and complete, and I further declare that I have authority to sign this document on behalf of the transferor . DATE : September 19, 2003 1999 MARCUS W. ACHESON IV QUALIFIED PERSONAL RESIDENCE TRUST DATED APRIL 8, 1999 BY: STATE OF 141.1401S S/ C } ss . COUNTY OF LAN= } 1999 IRMELA ACHESON QUALIFIED PERSONAL RESIDENCE TRUST DATED APRIL 8, 1999 011/6 BY: Sworn to before me on this day of September 19, 2003 by My commission expires : [0,14{ 1012 Witness my hand and official seal . OFFICIAL SEAQ. \i\k44,,) MARK L) KOLAR +-EOTAilY PUBLIC,STATE OF ILLINOIS Notary Public Ft'r MAAMISSK*EXPIFIES:1Ofl /05 Form FIRPTA.ENT V50002630