HomeMy WebLinkAboutPEC17-0039_Vr East Vail parcel title report 2017_1502730420.pdf ALTA Commitment (6-17-06) Commitment Page 1
Commitment Number: NCS-820167-CO
F k i{, First American Title Insurance Company - NCS
1125 17th Street, Suite 500
Denver, Colorado 80202
.!: ! Phone: (303)876-1112 Fax:(877)235-9185
DATE: June 23, 2017
FILE NUMBER: NCS-820167-CO
PROPERTY ADDRESS: East Vail Parcel, Vail, CO
OWNER/BUYER: The Vail Corporation/
YOUR REFERENCE NUMBER: East Vail Parcel
ASSESSOR PARCEL NUMBER:
PLEASE REVIEW THE ENCLOSED MATERIAL COMPLETELY AND TAKE NOTE OF THE FOLLOWING
TERMS CONTAINED THEREIN:
Transmittal:
Revision No.: 3
Schedule A: new effective date; changed vesting
Schedule B - Section 1 Requirements: Deleted 4 and 5 and modified the name
Schedule B - Section 2 Exceptions:
Should you have any questions regarding these materials, please contact First American Title Insurance Company
National Commercial Services at the above phone number. We sincerely thank you for your business.
TO: First American Title Insurance TITLE OFFICER: Karen Biggs/Mej Ellsworth
Company National Commercial
Services
1125 17th Street, Suite 500 PHONE: (303)876-1112
Denver, Colorado 80202 FAX: (877)235-9185
E-MAIL: kbiggs@firstam.com
DELIVERY: E-MAIL
TO: First American Title Insurance ESCROW Mej Ellsworth
Company National Commercial OFFICER:
Services
1125 17th Street, Suite 500 PHONE: (303)876-1126
Denver, CO 80202 FAX: (877)235-9185
E-MAIL: mellsworth@firstam.com
DELIVERY: E-MAIL
To: Vail Resorts Development Company ATTN: Kevin Hopkins
390 Interlocken Crescent, Suite 900 PHONE: (970)754-2664
— Legal Department
Broomfield, CO 80021 MOBILE: (970)331-3426
FAX:
E-MAIL: khopkins2@vailresorts.com
DELIVERY: E-MAIL
First American Title Insurance Company
ALTA Commitment (6-17-06) Commitment Page 2
Commitment Number: NCS-820167-CO
ALTA Commitment Form
COMMITMENT FOR TITLE INSURANCE
Issued by
First American Title Insurance Company
First American Title Insurance Company, a Nebraska corporation ("Company"), for a valuable
consideration, commits to issue its policy or policies of title insurance, as identified in Schedule A, in favor
of the Proposed Insured named in Schedule A, as owner or mortgagee of the estate or interest in the
land described or referred to in Schedule A, upon payment of the premiums and charges and compliance
with the Requirements; all subject to the provisions of Schedules A and B and to the Conditions of this
Commitment.
This Commitment shall be effective only when the identity of the Proposed Insured and the amount of
the policy or policies committed for have been inserted in Schedule A by the Company.
All liability and obligation under this Commitment shall cease and terminate six (6) months after the
Effective Date or when the policy or policies committed for shall issue, whichever first occurs, provided
that the failure to issue the policy or policies is not the fault of the Company.
The Company will provide a sample of the policy form upon request.
IN WITNESS WHEREOF, First American Title Insurance Company has caused its corporate name and seal
to be affixed by its duly authorized officers on the date shown in Schedule A.
First American Title insurance Company
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First American Title Insurance Company
ALTA Commitment (6-17-06) Commitment Page 3
Commitment Number: NCS-820167-CO
COMMITMENT FOR TITLE INSURANCE FORM
SCHEDULE A
1. Effective Date: June 149 2017 at 5:00 p.m.
a. ALTA Owner's Policy (06-17-06) $TBD
Proposed Insured:
A Purchaser To Be Determined
b. ALTA Loan Policy (06-17-06) $0.00
Proposed Insured:
None
2. The estate or interest in the Land described or referred to in this Commitment is:
Fee Simple
3. Title to the estate or interest in the Land is at the Effective Date vested in:
The Vail Corporation, a Colorado corporation
4. The Land referred to in this Commitment is described as follows:
See Exhibit "A" attached hereto and made a part hereof.
For informational purposes only: East Vail Parcel,
Vail, Colorado
First American Title Insurance Company
ALTA Commitment (6-17-06) Commitment Page 4
Commitment Number: NCS-820167-CO
EXHIBIT A
Commitment No.: NCS-820167-CO
The land referred to in Schedule A is situated in the County of Eagle, State of Colorado and is described
as follows:
The S 1/2 of the SE 1/4 of Section 2, Township 5 South, Range 80 West of the 6th P.M. EXCEPT a parcel
of land described as follows:
Commencing at the Southeast corner of SE1/4 of Section 2;
thence North along the East line of Section 2 a distance of 400 feet, more or less, to a point;
thence North 60° West 420 feet, more or less, to a point;
thence West a distance of 1050 feet, more or less, to a point on the North boundary of the right-of-way
of U.S. Highway 6;
thence in a Northwesterly direction along the North boundary of right-of-way of U.S. Highway No. 6 a
distance of 660 feet;
thence South a distance unknown to a point on the South line of Section 2, thence East along the South
line of Section 2 to the point of beginning,
Also EXCEPT and portion of the above described land taken for Highway purposes as set in Rule and
Order recorded January 5, 1971 at Reception No. 115066, and not contained in Deeds recorded
September 9, 1969 at Reception Nos. 111455, 111456 and 111457,
County of Eagle,
State of Colorado.
First American Title Insurance Company
ALTA Commitment (6-17-06) Commitment Page 5
Commitment Number: NCS-820167-CO
COMMITMENT FOR TITLE INSURANCE FORM
SCHEDULE B
SECTION ONE
REQUIREMENTS
The following requirements must be met:
1. Pay the agreed amounts for the interest in the land and/or the mortgage to be insured.
2. Pay us the premiums, fees and charges for the policy.
3. Payment of all taxes and assessments now due and payable.
4. This item has been intentionally deleted.
5. This item has been intentionally deleted.
6. Recordation of a Warranty Deed satisfactory to the Company, from The Vail Corporation, a
Colorado corporation, vesting fee simple title in and to A Purchaser To Be Determined.
7. Receipt by the Company of a Corporate Resolution executed by the officers of The Vail
Corporation., a Colorado corporation, authorizing the transaction herein contemplated and setting
forth the names and authority of those authorized to sign for the corporation.
8. Receipt by the Company of a satisfactory Final Affidavit and Indemnity, executed by The Vail
Corporation, Inc., a Colorado corporation.
9. Receipt by the Company of an ALTA/NSPS Land Title Survey, certified to First American Title
Insurance Company, and in form and content satisfactory to the Company. The Company
reserves the right to make further requirements and/or exceptions upon review of this survey.
NOTE: This commitment is subject to further requirements and/or exceptions upon disclosure to
the Company of the identity of the proposed insured purchaser.
First American Title Insurance Company
ALTA Commitment (6-17-06) Commitment Page 6
Commitment Number: NCS-820167-CO
COMMITMENT FOR TITLE INSURANCE FORM
SCHEDULE B
SECTION TWO
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:
1. Any facts, rights, interests or claims which are not shown by the Public Records, but which could
be ascertained by an inspection of the Land or by making inquiry of persons in possession
thereof.
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 Land would disclose, and which are not shown by the
public records.
4. Any lien, or right to a lien, for services, labor or material heretofore or hereafter furnished,
imposed by law and not shown in the Public Records.
5. Any and all unpaid taxes, assessments and unredeemed tax sales.
6. Water rights, claims or title to water, whether or not shown by the public records.
7. Right-of-way for all county roads as currently established and used.
8. Ditches, ditch rights, and claims or title to the same, whether of record or not.
9. Right of way for ditches and canals as constructed by the authority of the United States, as
reserved in United States Patent recorded April 28, 1900 in Book 48 at Page 477.
10. Reservation of a 1/2 interest in oil, gas and other mineral as reserved in Deed recorded May 3,
1960 in Book 165 at Page 227, and any and all assignments thereof or interests therein.
11. This item has been intentionally deleted.
12. Terms, conditions, provisions, obligations, easements and agreements as set forth in the
Easement Agreement recorded September 14, 1972 at Reception No. 121164.
13. Ordinance No. 13 Series of 1974, for annexation, recorded September 25, 1974 at Reception No.
132614.
NOTE: Ordinance No. 20 Series of 1974 amending legal in connection therewith recorded
November 8, 1974 at Reception No. 133315.
First American Title Insurance Company
ALTA Commitment (6-17-06) Commitment Page 7
Commitment Number: NCS-820167-CO
14. Existing leases and tenancies.
15. Terms, conditions, provisions and obligations in Notice of Organization regarding the Upper Eagle
Valley Sanitation District Eagle County, CO recorded March 28, 2017 at Reception 201705251
First American Title Insurance Company
ALTA Commitment (6-17-06) Commitment Page 8
Commitment Number: NCS-820167-CO
EXHIBIT B
Statement of Charges
Commitment - TBD $
$
First American Title Insurance Company
ALTA Commitment (6-17-06) Commitment Page 9
Commitment Number: NCS-820167-CO
CONDITIONS
1. The term mortgage, when used herein, shall include deed of trust, trust deed, or other security
instrument.
2. If the proposed Insured has or acquired actual knowledge of any defect, lien, encumbrance,
adverse claim or other matter affecting the estate or interest or mortgage thereon covered by
this Commitment other than those shown in Schedule B hereof, and shall fail to disclose such
knowledge to the Company in writing, the Company shall be relieved from liability for any loss or
damage resulting from any act of reliance hereon to the extent the Company is prejudiced by
failure to so disclose such knowledge. If the proposed Insured shall disclose such knowledge to
the Company, or if the Company otherwise acquires actual knowledge of any such defect, lien,
encumbrance, adverse claim or other matter, the Company at its option may amend Schedule B
of this Commitment accordingly, but such amendment shall not relieve the Company from liability
previously incurred pursuant to paragraph 3 of these Conditions and Stipulations.
3. Liability of the Company under this Commitment shall be only to the named proposed Insured
and such parties included under the definition of Insured in the form of policy or policies
committed for and only for actual loss incurred in reliance hereon in undertaking in good faith (a)
to comply with the requirements hereof, or (b) to eliminate exceptions shown in Schedule B, or
(c) to acquire or create the estate or interest or mortgage thereon covered by this Commitment.
In no event shall such liability exceed the amount stated in Schedule A for the policy or policies
committed for and such liability is subject to the insuring provisions and Conditions and
Stipulations and the Exclusions from Coverage of the form of policy or policies committed for in
favor of the proposed Insured which are hereby incorporated by reference and are made a part
of this Commitment except as expressly modified herein.
4. This Commitment is a contract to issue one or more title insurance policies and is not an abstract
of title or a report of the condition of title. Any action or actions or rights of action that the
proposed Insured may have or may bring against the Company arising out of the status of the
title to the estate or interest or the status of the mortgage thereon covered by this Commitment
must be based on and are subject to the provisions of this Commitment.
5. The policy to be issued contains an arbitration clause. 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 as the exclusive remedy of the parties. You may review a copy of the arbitration rules at
http://www.alta.org/.
First American Title Insurance Company
ALTA Commitment (6-17-06) Commitment Page 10
Commitment Number: NCS-820167-CO
'cT' First American Title
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Privacy Information
We Are Committed to Safeguarding Customer Information
In order to better serve your needs now and in the future,we may ask you to provide us with certain information.We understand that you may be concerned about what we will do with such
information-particularly any personal or financial information.We agree that you have a right to know how we will utilize the personal information you provide to us.Therefore,together with our
subsidiaries we have adopted this Privacy Policy to govern the use and handling of your personal information.
Applicability
This Privacy Policy governs our use of the information that you provide to us.It does not govern the manner in which we may use information we have obtained from any other source,such as
information obtained from a public record or from another person or entity.First American has also adopted broader guidelines that govern our use of personal information regardless of its source.
First American calls these guidelines its Fair Information Values.
Types of Information
Depending upon which of our services you are utilizing,the types of nonpublic personal information that we may collect include:
• Information we receive from you on applications,forms and in other communications to us,whether in writing,in person,by telephone or any other means;
• Information about your transactions with us,our affiliated companies,or others;and
• Information we receive from a consumer reporting agency.
Use of Information
We request information from you for our own legitimate business purposes and not for the benefit of any nonaffiliated party.Therefore,we will not release your information to nonaffiliated parties
except:(1)as necessary for us to provide the product or service you have requested of us;or(2)as permitted by law.We may,however,store such information indefinitely,including the period
after which any customer relationship has ceased.Such information may be used for any internal purpose,such as quality control efforts or customer analysis.We may also provide all of the types of
nonpublic personal information listed above to one or more of our affiliated companies.Such affiliated companies include financial service providers,such as title insurers,property and casualty
insurers,and trust and investment advisory companies,or companies involved in real estate services,such as appraisal companies,home warranty companies and escrow companies.Furthermore,
we may also provide all the information we collect,as described above,to companies that perform marketing services on our behalf,on behalf of our affiliated companies or to other financial
institutions with whom we or our affiliated companies have joint marketing agreements.
Former Customers
Even if you are no longer our customer,our Privacy Policy will continue to apply to you.
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We will use our best efforts to ensure that no unauthorized parties have access to any of your information.We restrict access to nonpublic personal information about you to those individuals and
entities who need to know that information to provide products or services to you.We will use our best efforts to train and oversee our employees and agents to ensure that your information will be
handled responsibly and in accordance with this Privacy Policy and First American's Fair Information Values.We currently maintain physical,electronic,and procedural safeguards that comply with
federal regulations to guard your nonpublic personal information.
Information Obtained Through Our Web Site
First American Financial Corporation is sensitive to privacy issues on the Internet.We believe it is important you know how we treat the information about you we receive on the Internet.
In general,you can visit First American or its affiliates'Web sites on the World Wide Web without telling us who you are or revealing any information about yourself.Our Web servers collect the
domain names,not the e-mail addresses,of visitors.This information is aggregated to measure the number of visits,average time spent on the site,pages viewed and similar information.First
American uses this information to measure the use of our site and to develop ideas to improve the content of our site.
There are times,however,when we may need information from you,such as your name and email address.When information is needed,we will use our best efforts to let you know at the time of
collection how we will use the personal information.Usually,the personal information we collect is used only by us to respond to your inquiry,process an order or allow you to access specific
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Business Relationships
First American Financial Corporation's site and its affiliates'sites may contain links to other Web sites.While we try to link only to sites that share our high standards and respect for privacy,we are
not responsible for the content or the privacy practices employed by other sites.
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Some of First American's Web sites may make use of"cookie"technology to measure site activity and to customize information to your personal tastes.A cookie is an element of data that a Web site
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FirstAm.com uses stored cookies.The goal of this technology is to better serve you when visiting our site,save you time when you are here and to provide you with a more meaningful and
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Fair Information Values
Fairness We consider consumer expectations about their privacy in all our businesses.We only offer products and services that assure a favorable balance between consumer benefits and consumer
privacy.
Public Record We believe that an open public record creates significant value for society,enhances consumer choice and creates consumer opportunity.We actively support an open public record
and emphasize its importance and contribution to our economy.
Use We believe we should behave responsibly when we use information about a consumer in our business.We will obey the laws governing the collection,use and dissemination of data.
Accuracy We will take reasonable steps to help assure the accuracy of the data we collect,use and disseminate.Where possible,we will take reasonable steps to correct inaccurate information.
When,as with the public record,we cannot correct inaccurate information,we will take all reasonable steps to assist consumers in identifying the source of the erroneous data so that the consumer
can secure the required corrections.
Education We endeavor to educate the users of our products and services,our employees and others in our industry about the importance of consumer privacy.We will instruct our employees on
our fair information values and on the responsible collection and use of data.We will encourage others in our industry to collect and use information in a responsible manner.
Security We will maintain appropriate facilities and systems to protect against unauthorized access to and corruption of the data we maintain.
Form 50-PRIVACY(9/1/10) Page 1 of 1 Privacy Information(2001-2010 First American Financial Corporation)
First American Title Insurance Company
ALTA Commitment (6-17-06) Commitment Page 11
Commitment Number: NCS-820167-CO
DISCLOSURE STATEMENT
Pursuant to C.R.S. 30-10-406(3)(a) 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 will refuse to record or file any document that does not
conform to the requirements of this section.
NOTE: If this transaction includes a sale of the property and the price exceeds $100,000.00, the seller
must comply with the disclosure/withholding provisions of C.R.S. 39-22-604.5 (Nonresident withholding).
NOTE: Colorado Division of Insurance Regulations 8-1-2 requires that "Every title insurance company
shall be responsible to the proposed insured(s) subject to the terms and conditions of the title
commitment, other than the effective date of the title commitment, for all matters which appear of record
prior to the time of recording whenever the title insurance company, or its agent, conducts the closing
and settlement service that is in conjunction with its issuance of an owner's policy of title insurance and is
responsible for the recording and filing of legal documents resulting from the transaction which was
closed.
Pursuant to C.R.S. 10-11-122, the company will not issue its owner's policy or owner's policies of title
insurance contemplated by this commitment until it has been provided a Certificate of Taxes due or other
equivalent documentation from the County Treasurer or the County Treasurer's authorized agent; or until
the Proposed Insured has notified or instructed the company in writing to the contrary.
The subject property may be located in a special taxing district. A Certificate of Taxes due listing each
taxing jurisdiction shall be obtained from the County Treasurer or the County Treasurer's authorized
agent. 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: 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.
NOTE: Pursuant to Colorado Division of Insurance Regulations 8-1-1,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.
First American Title Insurance Company
ALTA Commitment (6-17-06) Commitment Page 12
Commitment Number: NCS-820167-CO
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 C.R.S. 38-35-125(2) no person or entity that provides closing and settlement services
for a real estate transaction shall disburse funds as a part of such services until those funds have been
received and are available for immediate withdrawal as a matter of right.
NOTE: C.R.S. 39-14-102 requires that a real property transfer declaration accompany any conveyance
document presented for recordation in the State of Colorado. Said declaration shall be completed and
signed by either the grantor or grantee.
NOTE: Pursuant to CRS 10-1-128(6)(a), It is unlawful to knowingly provide false,
incomplete, or misleading facts or information to an insurance company for the purpose of
defrauding or attempting to defraud the company. Penalties may include imprisonment,
fines, denial of insurance and civil damages. Any insurance company or agent of an
insurance company who knowingly provides false, incomplete, or misleading facts or
information to a policyholder or claimant for the purpose of defrauding or attempting to
defraud the policyholder or claimant with regard to a settlement or award payable from
insurance proceeds shall be reported to the Colorado division of insurance within the
department of regulatory agencies.
Nothing herein contained will be deemed to obligate the company to provide any of the coverages
referred to herein unless the above conditions are fully satisfied.
First American Title Insurance Company