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HomeMy WebLinkAboutTitle Report - Sorte.pdf Date:August 12, 2013 BCKL, LLC, A NEW YORK LIMITED LIABILITY COMPANY 38 DEER KNOLL BEfPORD CO1NERS, NY 10549 Subject: Attached Title Policy V50036364 for 1259 WESTHAEN CIRCLE AKA LOT 34 NORTH UNIT ALPINE TOWNHOUSES HI VA 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 ail 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 directly at 970477-4522_ 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 die opportunity to work with you on this transaction. We look forward to serving you again in the future. Sincerely, Land Title Guarantee Company - -- - Owner Ts Policy of Title insurance ISSU(U OY First American Title Insurance Company ANY NOTICE OF CLAIM AND ANY OTHER NOTICE OR STATEMENT M WRfTfffl IEOUIREOTD UE OR/EN TO THF COMPANY UNDER THIS POLICY MUST DE GIVEN TO TIE COMPANY AT THE ADDRESS SHOWN IN SECTION 1$OF THE CONDITIONS, COVERED RISKS SUBJECT TO THE EXCLUSIONS FROM CO11ERACE,THE EXCEPTIONS FROM COVERAGE CONTAINED IN SCHEDULE B AND THE CONDITIONS..FIRST AMERICA?)IPILE INSURANCE COMPANY.a Caldiania corporatism IIbt'Corepany"linsures,as of Date of Poky and,to the extent stated in Covered Risks 9 and 1 after Date al Poky,against loss at damage, cot exceedmg the Amount of Insurance,sustained ee incurred by the Insured by reason al: 1, 'Title bang rested other than as stoted hi Schedule A- 2 Any defetl n or Ilan orencurnhranca on the title;This covered Risk includes bet is not limited to insuranceagainst loss from [al A defect in the Title caused by G�forgery,fraud,'maw influence,duress,ncorrpetency,incapacity,or impersonation; Iii]failure al any person or Entity in haus authorrred a Transfer or conveyance; IA a document affectkig Title not progeny created,executed,witnessed,sealed,acknowledged,notarized,or defveeedc Gil failure to perieuo those acts necessary Ia create a docurnaet by electronic means authorized by law; [ala document executed under fo_iwliedr OFpired.or a therwiseirradid power of atiamey; MI a document not properly fled.recorded,or indexed in me Pubic Records Including laikue to perform those acts by electronic means authorized by low;or [YR'a defective judicial or administrative proceed:iy, [bl The Eien of real estate tumor assessments imposed an the Title by a gouerarnrntal authority due or payable,but unpaid. [ I Any encroacImit.eotunbrance,violation,oarialiae,or adverse circumstance affecting the The that would le disclosed by an accurate and complete land surrey of the Land.The teen'entroachment"includes encroachments otexisting inrprovemennsloomed on the Load onto adjeinirg land,and entreatlmweats onto Ilia Land of existing improvements located en adjairrng land. 3-Unmarketable Tide 4.No right of access to and from the Land. .1.The*Action or enforcement of any law,Minaret,permit,.or govarmtiental regulation(including those relating to building and zoning)restricting,regulating,prohibiting,or relating to [al the occupancy,use or enjoyment of the Land; Iblthe character,dimensions.or location of any improeerneci eret tad an the Land; [c]the subdivision of land;or [dl environmental protection it a notice.describing any part of the Land,is mended in the Pubk Records setting forth the violation or intention to enforce,but only to theextent of the*lake Or enforcement referred to in that notice. G.An enforcement action based an the exercise of a gooanrnmrtal police power not towered by Cowered Risk 5 if a notice of the enforcement action,deserting any port of the Land.is recorded in the Pubic Records,but only Ie the extentef the enforcement referred to in shot notice. 7.The exercise of the rights of militant domain if a notice of the exercise,describing arty part of the Lard,is recorded In the Public Records. &Awry taking by a governmental body that has attuned and is hlndng on the rights of a purchaser for value without Keewk:dge, 9.Title being vested other than as staled in Schedule A or being detective Nies a result of the avoidance in whole or in pari.or from a court orderpnividng an ahenwative remedy,ala transfer of all or any part of the title to or any interest in the Land aeulrting prior to the transaction oesfing Trtle as shown in Schedule A because that prior trawler ler constituted a fraudulent or prelerenlial transfer under federal beckeuptcy,state insolvency,or similar creditors'rights lawn;on Ibl because the instrument of iranslt4,resting Title as shown in Schedule A constitutes a preferential Iransfer under Iederel bankruptcy,state insolvency.or sinedor crerbiors'rights laws by reason of the failure of its recording in the Public Records fGtobenely,or lid ao.rc]ari notice of its existence io a purchaser for value or to ajudgment or lien creditor. 10.Any defect in or len or Encumbrance on then*Or ocher matter nduded n Covered Risks 1 through 9 that has been created or attached or has been filed or recorded in the Pubic Records subsequent to Date of Polity and prlaa to the recording of the deed or other instrument of transfer in the Public Records that vests'Tide as shown in Subedit A. The Company will also pay the costs,attorneys`fees,.end expenses'Ironed in defense of any matter Insured against by Ihis Policy,bun only to the extant provided in the Conditions. FIR T AMERICAN TfELE NISURA NCE COMPANY i sued through the Office of_ Land Trtle Guarimee Company �"""••,� 5N #2A EAD CIRCLE 0 VARY CO 1G57L3 L E n Hs y �' 0704177-4522 -• i•I 0 4.4} President DennisJ.Gilmore fl . LAND TITLE y ti hSS4CIr5734N A ' prized Sign nue -- �"F: Harmony Kenny Secretary *+ Copyright 2006-2012 American land Titin Association- AD rights reserved_The use of this form is restricted Lo ALTA licensees and ALTA members in good standing as of the dare of use.AU other uses are prohibited.Reprinted under license from the American Land Title Association. AO.A,[1 [ALTA OF3-17.46]Cover Page 1 of 5 EXCLUSIONS FROM COVERAGE The foIawing matters are expressly excluded from the coverage of this poky,and the Compomy will not pay lass or damage,oasts,attorneys'fees,or expenses that ari#e by reason of; lea Any law,ordinance,permit,ergovernmental regulation 5ncludiny those reletng to balding andmninJFrestricting,regulating,prohibiting or relating to r0 the occupancy,use.or enjoyment of the Land; Iii)Ma character,dinensiens,or location of any irnproaemarkt erected on the Land; liii)the subdivision al lend;or liv]envlrDrn tel preach:irk or the affect of arry violation DI these laws,ordrnantes,Of governmental regulations.TTis Exclusion 1[al does not madly or lent the coverage provided under Covered Risk 5. �bF Any governmental poke power.This Exclusaem 1161 does not modify or!Mit the coverage provided under Covered Risk 6. 2 Rights of eminent domain.This Exclusion does not modify or Broil the coverage provided under Covered Risk 7 or 8. 3.Defects,Fens,encumbrances,adverse claims,or other matters ;a1 created,mineral,assumed,ex agreed to by the Insured Claimant ;b]not Known to the Comparky,not recorded in the Public Records at Date of P4Ticy,but Known to the Insured Cie slant and not disclosed in writing to the Company by the Insured Claimant prior 10 the date the insured Hainaut became an Insured under Oils policy: Id resulting m no loss or damage to the Ensured Claimant; attaching of created subsequent to Cate of Poky!however,this does not nudity or brat the coverage provided under Covered Risk 9 and 10k or rep re Ening n loss or damage that would not hare been sustained if the insured Unman(had pail value tDr the Title 4 Any claim,by reason of the opera Ginn of federal harduuptcy,state insolvency,er limier avatars'rs'rights taws,that the transaction resting the Title as shown in Schedule&is la)a fraudulent comieyarnce or fraudulent transfer;Dr lb)a preferential transfer far any reason not stated in Covered Risk 9 of this policy. 5.Any limn an the Tine for real estate tales mr asseasrrpnts imposed by governmental authority and treated or artachng between Rate DI Policy and the date DI recording of the deed)r other insuument a f transfer in the Public Records that vests Title as shown in Schedule A. CONDITIONS 1.DEFINITION OF TERMS The following teens when used in this policy wan: le]"Amount of Insurance":The amount stated in Schedule Ar as may be increased or decreased by endorsement')this policy,increased by Section$Ibl or decreased by Set/join 1 fl and 11 of thew Cmt5dons. co)"Date al Policy":The date designated as"{])tie)f Policy"in Schedule&. fcF"Entity":A corporation,.partnership,trust,limited liabiity company,or other simlar Iagal entity. (d)"Insured":The Insured named n Schedule A. GJ The term'Insured"also includes Al{ successors to the Title Pi the insured by operation of Few as Iistriquished from purchase,intirdino heirs,devisers,suruirmrs,personal representatives,Cr next 01 kin; 1B1 successors to an Insured by dissolution.rrrerger,consolidation,distribution,or reorganization: ICI successors to an Insured by its cmmvarsion to another kind of Entity; {DI a grantee of an Insured under a deed delivered without payment of actual valuable consideration conveying the Title [1]iI the slack,shares,mart rshipsu or ether equltt iitem5ts of the grantee aro wholly4wnad by the nark Insured. 14 if the grantee wholly own 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 11)if the grantee is a trustee Dr beneficiary of a trust created by a written instrument estabished by the Insured named in Schedule A forestate planning purposes- liip With regard to(A,1,WI,ICI,and lf])reserving,however,el rights and defensed as to any successor that the Company would have had against any predecessor Insured. fel'Insured Cremona':An irsured olamine lessor damage. {fl"Knowledge'or'Knawn":Actual knowledge,.net constructive knowledge or notice that may be imputed to an Insured by reason of the Public Records or any other moult that impart rCnlrurtiue notice al matters affecting she This. {gl"Land':The land descrmed in Schediuh A,and affixed improvements!hat by law constitute real property.The term"Land"does not include an property beyond the lives of the area described in Schedule Ar nor any right,tiler interest.estate,u easement in abut1irg streets,roads,avenue,alleys,lanes,15.45,or waterways,but This does not modify or keit the extent that a right mf access to and Item the Land Is insured by this policy. rhF'Miortgage;filortgage,deed of trust,trust deed,or other security nstrurremt,including one evidenced by eiectromie means autharixed by few. Iii"Public Records":Records estabished ander state statutes at Cate)f Policy lar the purpose of imparting constructive notice of matters relating to real property to purchasers for value and without Knowledge.With respect Io Covered Risk 560,"Public Records'shall elm include environmental protection liens fled in the records of the clerk of the United States District Court for the district where the Land is located, 4] "Title":rhe estate Dr Interest descried in Schedule A. "Unmarketable Ttle':Titleaffected by an alleged or apparent matter that would permit a prospective purchaser or lessee of the Tide or Fender on tIel u e to be released from the Dblioalien to purchase,lease,Dr lend if thorn i5 a contractual condition requiring the delivery of marketable titlr+- 2.CONTINUATION fiF]NSUIiA110E The coverage of this policy shall continues force as of Date of Policy ii favor of an Insured.but only so long as the Insured retains an estate or interest in the landr oT holds an obligation secured by a porcha5e money Mortgage green by a purchaser tram the Insured,or only 5D long as the ln5ured shall have by reason DI warranties in any transfer or conveyance of the Tilde.This pokey shall not continue in faros in favor of any purchaser kern the Insured of either Ilk am estate or interest in the Land,or ars obdigetion secured by a purchase money Mortgage given to the Insured. Afl-fkiD8.2 Cover'Page 2af 5 3.NOTICE OF CLAIM TO RE GIVEN BY INSURED CLAIMANT The Insured char notify the Company promptly in writing GI in case of any itigation as set forth in Section 5(a)of these Conditions,{iii in case Knowledge small damn to an Insured hereunder of any chine titled(interest that is adverse to the Title,as insured,and that night cause loss or damage for which the Company may be Mitre by virtue of this policy,or RI 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 to the Insured CI inert under the poky she'be reduced to the extent of the prejudice. 4.PROOF or EVS In the event the Company is unable to determine the amount of loss or damage,the Company may,at its option,requria as a comdi1ion of payment Mat the Insured Claimant burnish a signed proof of loss,The proof of loss must describe the defect,lien,sncumbranco,or other matter insured ag anst by this policy that tensitutes the basis of loss or damage and shall state,to the mkt poaslhle,the basis of calk Ung the amount of the loss or damage, 5.DEFENSE ANI 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 prouide for the defense of an ranted in litigation in which any third peaty asserts a claim covered by this poky adverse te the Insured-This obligation is kited to only those staled causes of action alleging matters nsured against by this poky.The Company shall have the right to select counsel al its choice(subject to the right of the Insured to object for reasonable cause)to represent the Insured as to those stated causes oI action. It shall non be liable far and will not pay the fees of any other counseLThe Carnpamy will not pax any lees,com or expenses incurred by the Insured in the defense of those causes of action that allege matters not insured against by this poky. lbl The Company shall have the right.in addition to the options contained in Section 7 of these Conditions,Oils owar cost to institute and prosecute any action or proceeding or to do any other act that in its opinion may he modernly or desireabfe to actabLesh the Title,as insured,or to prevent or reduce loss or damage to the Insured-The Company may take any appropriate action under the terns of this policy,whether or non it shall be liable to the Insured_The exertue of these rights shall not be an adndenion of lability or waiver of any provision of this policy.If the Compaoy exercises its rights under this subsection, it must to so dilgently, Ir]Whenever the Company brings an action or asserts a defense as required or permitted by this poky,the Company may pursue the litigation to a feral deterrinatina by a court of competent jurisdiction,and it expressly reserves the right its sale disc ration,to appeal any adverse judgment al'order, 6. DUTY OF INSURED CLAIMANT TO COOPERATE ;al la gar rases where this policy pewits or requires the Company to prosecute or provide for]he 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„atits option,the name'tithe marred far this purpose.Whereof requested by the Company,the insured,at the Comparry's expense,shall give the Company all reasonable all ll in securing evidence,obtaining witnesses,prosecuting or detendkry the action or proceeding,or effecting settletrenl,end 01 in any other lawful act that in the opinion of the Company may be necessary or desirable to estabLsh the Title er any other matter as insured_If the Company is prejudiced by the lucre of the Insured to furnish the roared cooperation,the Company's obligation to the Insured under the poky sinal terminate,including any liability or obligation to defend,promote,or continue any itiga tion,with regard to the matter or matters retmliig such cooperation_ lb1 The Canquny may reasonably require the Insured Claimant to submit to examination under oath by any authorized representative of the Company and to produce foe eramtinatien,.ospection,and copying,am such reasonable toes end places an may be designated by the authorized remre-sentatire of the Company, all records,in whatever medium maintained,ineludrng hooks,.lodgers,checks,memoranda,correspondence,reports,e-ma's.disks,tapes,and videos whether hearing a dale before or atter pate of Poky,that reasonably pertain to the loss or damage.Further,if requested by any authorized reproseetative of the Company,l he Insured Claimant shall grant its omission,in writing,for any authorized representative of the Company to examine,inspect,.and copy all o f these records in the custody or control Dia third party that reasonably pertain to the kiss or damage.AI information designated as coo fidential by the Insured Dairen'Fronded to the Company pimento this Section shall not be disclosed to others unless,in the reasonable judgment of the Company,it is necessary in the odninistration of the chairs.Failure of the Insured Claimant to submit ler examination under oath produce any reasonably requested information,al'Brent permission to secure reasonably necessary information from third parties es required In[Firs subsection,unless prohibited by law en governmental regulation, shalt tenrinate any liability of the Company under this poky as to that tlan. 7. OPTIONS TO PAY OR OTIIF1IWISE SETTLE CLAIMS;TERMINATION OF LIABILFTY In case of a dlairnunder this poky.the Company sheli have the following additional options: {al To Pay or Tender Payment of rhe Arrrount of Insurance- To pay or tender payment of the Amount of Insurance under this policy together with any costs,attorneys'fees,and aopenses recurred by the Insured Claimant ural were aulhori:ed by the Cempany up 10 the tib of payment or tender of payment and that the Company is obligated to pay. Upon the exercise by the Company of this option,al liebdtty and obligations of the Company to the Insured under tl6 policy,other than to retake the payment required in the subsection,sial to ririnate,including any liahity or obligation to defend,prosecute,or continue any itigratioe_ lb]To Pay or Otherwise Settle With Panties tither Than the insured or With the Insured Ctairrrant. IP To pay or otherwise settle with other parties for or in the nacre of an Insured Claimant any claim insured against under this policy.In addition,the Company wi pay any costa,attorneys'fees,and expenses incurred by the Insured Claimant that were authorised by the Company up to the line of paymon t and that the Company Is obligated to pay;or lid To pay orotlrerwise set*with the Insured Claimant the kiss or damage provided far under this policy,together with any costs,attorneys'fees,and expensed incurred by the Insured Claimant that were authorised by the Company up to the time of payment and that the Company is obligated to pay. Upon the exercise by the Company al either olthe options provided for in subsections 001.0 or(el,the Company's obligations to the Insured under this pcHcy for the claimed loss or damage,other than the payments required to be made,she'terminate.includiig any liabiity or obligation no defend,prosecute,or continue any litigation, B.DETERMINATION AND EXTENT OF LIABILITY This policy is a contract of ndemnity against actual monetary loss or damage susteined or incurred by the limed Militant who hes suffered loss or damage by reason of matters insured aganst by this policy_ fat The extent pliability of the Company for loss or damage under this poky shsA not exceed the lesser aF id The Amount of Insurance;or 10 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. A+O.1AA6-3 Cover Page 3 el 5 IbI lithe Company pursues its rights under Section 5 o I these Conditions and is unsuccessiuF in establishing the Title,as insured, lit the Amount of Insurance shall he increased by 10%,and ;iif the Insured Claimant shad have the right to have the loss or damage determined either as of the dare the claim was made by the Insured Claimant or as of the date it is settled and paid, Win addition to the extent of liability under;al and Ihk lire Company will.also pay thane cos#,attorneys'fees,and expenses incurred n accordance wilt!Sections 5 end J o-f these Conditions, 9.LIMITATION OF LIABILITY Cal If the Convey establishes the Tido.or remuos the alleged defect Gee,or eocuntrarice,Or Cures the lack ol a right of access to or from the Land,or nares the claim of Unmarketable Title,all as insured,in a reasonably diligent manner by any method,Including litigation and rho corrrpletion ol any appeals,it shall have fully performed its obligations with respect to that matter arid sheik cot be liable for any IOSSor damage caused to the Insured Min the event of any litigation,includIng rrtigatian by the Company or with the Company's consent.the Company shall have nu liability for fuss 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. [cl The Company shall not be liable for loss or damage to the insured for lability voliiitardy assumed by the Insured in sett/1g amt claim or suit without the prior written consent of the Company_ 131.REDUCTION OF INSURANCE;REDUCTION OR TERMINATION OF LIABILITY Al payments under this pony,except payments made for costs.attorneys'fees,and expenses,shell reduce the Amount of Insurance by the arruurl of the payment, 11, LIABILITY NONCUMULATIVE The Amount of Insurance shall be reduced by any amount the Company pays under arry poky insuring a Mortgago to which Exception is taken n Schedule B or to which the Insured has agreed,assumed,or taken subject,or which is executed by on Insured after Date of Policy and whidr is a charge or lien on the Title,and the amount so paid shall be deemed a payment to the Insured ceder this policy. 12.PAYMENT OF LOSS When`ability and the extent of loss or damage have been deficitely fixed in accordance with these Conditions,the payment shill be made within 30 days. 13.RIGHTS OF RECOVERY UPON PAYMENT OR SETTLEMENT ;a]Whenever the Company shall bane 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 nod remedies in respect to the claim that the Insured Claimant has agaurst any person or property,to the extent of the amount in f arry lass,casts,attorneys'fees,and eipnocespaid by the Company.If requested by the Company,the Insured Clarrmet 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 ol the Insured Claimenl and to use the maim of the Inured Barran'in any transaction or litigation mrohring these rights and'wrecks. If a payment on anoint of a claim does not filly cnuer the less of the Insured Claimant tics Company shad Wei the exercise of its right to reopuw until after the Insured Claimant shall have recovered its loss, Oa)the Canlaarry'a right of subrogation includes the rights of the Insured To inderrriil0-s,guaranties,Oho.pokys of insurance,or bonds,notwithstanding arty terms or condtions contained in those instrunoentx that address subrogation fights. 14.ARBITRATION Either the Company or the Insured may demand that the claim ar oontrnreray Shall be s mirnitied to erbitralari pursuant to kb Title Insurance Arbitration Rules of the American Land Title Association;"Rules''_Except as provided in the Hulas,there shad be no joinder ortonsoidaliein with dancer controversies ol other persons, Arbitrable mattes may include,but are riot limited To,any controversy or claim between the Company and the Insured eriwig out of or relating to this policy,any service in connection with its issuance er the breach of a policy prevision,or to any other controversy or claim arising Cut of the transaction giving rise to this poky.All arbitrebfe matters when the Amount of Insurance is 12,000.0100 or less shall be arbitrated at the option of either the Company of the Insured,A9 arbitrable matters when the 14munt 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 Aules shall be binding upon the parties_Judgment upon the award tendered by the Arbitrator[sl may be entered in any court of competent jurisdiction. 15. LIABILITY LIMITED TO THIS POLICY;POLICY ENTIRE CONTRACT lar This policy together with al endorsements,if any,aitatired to it by the Company i51he policy and conlrart between the Insured and the Company.In interpreting any prevision of this polls/.this policy shall he construed as a whole. 101 Airy deer'or loss or damage that arises out at the status of the Title or by any action ossertirg such claim shad'be restricted to this policy. It]Any anEndment of er endorsement to ibis policy must be h writing and authenlinated by an authorised person,or expressly incorporated by Schedule A of this policy. Ill Each endorsement to this polity issued Many tine is made a part Otis policy and is subject to all of its lams and prondsions.Except as the endorse rrat expressly states,it does not 01 modify any of the terms arid provisions of the policy,CO modify any prior endorsement,01 extend the Date of Poky, or lie]increase the Amount of'Nuance, 16,SEVERABILITY In the Er/oniony provision of thispaicy,all whole or in part,is held inrafird erunenfnrceabe andel applicable law,the policy shall be deemed not to include that prouip,on winch part held 10 be Moak,but all other provisions shall remain in fol force and effect, AD_FA36.4 Carer Page 4 of 5 11.CHOICE OF UAW;FORUM I 41 Choice of haw;The Insured acknowledges rho Company has underwritten the risks powered by this policy and determined the premium charged therefor in reliance upon ihetarr offetling interests in real property and applicable te theinterprelalion,rights,remedies,or enfarcerneot of policies of tiUeinsurance of the jurisdicton where the Land is located, Therefore,the courtier so arbitrator shall apply the law of the jurisdiction where the Land is faceted to deleorire the uarrdity of cfafrnitagains!the Title that are adverse to the Insured and to nierpretand enforce the terms of this poky.In neither case shall the court orarhitratorapply in canllicts of law principles to delanriie the appricebfe law. Oki Choice a f Forwrt;Arty litiyalion or other preceeding hrooght by the Insured against the Company me he filed only in a eta to or federal court within the United States of America or its tenitarres having appropriate puriadietian, IL NOTICES,WHERE SENT Any rrorlte of claim and any other notice or statement in writing required to he'Oren to the Company under this policy must be pen to the Company at: 1 first American Way,Sante Ana,CA 92707,Attn:Claim Department ANTI-FRAUD STATEMENT:Pursuant to CRS IO-1-125(6)( ),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 damage;.Any insurance company or agent of an Insurance company who knowingly provides false,incomplete,or vlisleadlug facts or information to a policyholder or claimant for the purpose of defrauding or attempting to defr$ud the polf€ytaolder 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 and made a part of this policy. This jacket was created clecooabca!!y and constitutes on Original document AO.FAf6,5 Carer Fags 5 of 5 LTG Policy No. TAAH50036364 Form AO/FA Our Order No. V50036364 Schedule A Amount $2,507,500.00 Property Addr ss: 1259 WESTHA,VEN CIRCLE AKA LOT 34 NORTH UNIT ALPINE TOWNHOUSES III VAIL CO $1157 1. Policy Date: iuly 31, 2013 at 5:O0 P.M. 2. Name of Insured: BCKL, LLC, A NEW YORK LIMITED LIABILITY COMPANY 3. The estate or interest in the Land described or referred to in this Schedule and which is covered by this policy Is: A FEE SIMPLE 4. Title to the estate or interest covered by this policy at the date hereof is vested in: 1 BCKL, LLC, A NEW YORK LIMITED LIABILITY COMPANY 5. The land referred to in this policy is described as follows: NORTH PARCEL, TOGETHER WITH AN UNDIVIDED ONE-HALF INTEREST IN AND TO COMMON PARCEL, ALPINE IIF TOWNHOUSES, ACCORDING TO THE PLAT RECORDED MARCH 15, 1990 IN BOOK 524 AT PAGE 465, COUNTY OF EAGLE, STATE OF COLORADO. This Policy valid only if Schedule B is attached. Land Title Guarantee Company Representing First American Title Insurance Company LTG-Policy No. TAAH50036364 Form AO/FA - Our Order No. V50036364 Schedule B FIRST AMERICAN TITLE INSURANCE COMPANY SHALL HAVE NO LIABILITY FOR ANY LIENS ARISING FROM WORK OR MATERIAL FURNISHED AT THE REQUEST OF BCKL, LLC, A NEW YORK LIMITED LIABILITY COMPANY. LTO Policy No. TAAH-150015S64 Form AO/FA — -— - Our Order No. V50036364 Schedule B This policy does not insure against toss or damage(and the Company will not pay costs, attorneys' fees or expenses) which arise by reason of: General Exceptions: 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 of that may 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 Laud 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 ening claims; (b)reservations or exceptions in patents or in Acts authorizing the issuance thereof; (c) water rights, claims or title to water, whether or not the matters excepted under(a), (b), or (c) axe shown by the Public Records. 6. 2013 TAXES AND ASSESSMENTS NOT YET DUE OR PAYABLE. 7. 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., 8. 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 AND RECORDED OCTOBER 2, 1946 IN BOOK 132 AT PAGE 405. 9, RESERVATION AS TO THE NORTHWEST 114 OF SECTION 12 TOWNSHIP 5 SOUTH, RANGE 81 WEST OF THE RIGHT OF WAY OF THE UNITED STATES, ITS PERMITTEE OR LICENSEE, TO ENTER UPON, OCCUPY AND USE ANY PART OR ALL OF SAID LAND FOR THE PURPOSES PROVIDED IN THE ACT OF TUNE 10, 1920 (41 SAT. 1063) AS RESERVED IN THE PATENT RECORDED OCTOBER 2, 1946 IN BOOK 132 AT PAGE 405. 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, SIX, SEXUAL ORIENTATION, FAMILIAL STATUS, MARITAL STATUS, DISABILITY, HANDICAP, NATIONAL ORIGIN, ANCESTRY, OR SOURCE OF INCOME, AS --- -___ --- LTG IPojicy No. Tt4AH0036364 Form AO/FA - - Our Order No. V50036364 Schedule B 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 INSTRUMET 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 RERECORDED 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 AND AS AMENDED IN INSTRUMENT RECORDED MARCH 5, 2007 UNDER RECEPTION NO. 200705601. 11. EASEMENTS, CONDITIONS, COVENANTS, RESTRICTIONS, RESERVATIONS AND NOTES ON THE AMENDED PLAT OF GLEN LYON SUBDIVISION RECORDED JULY 18, 1978 IN BOOK 272 AT PAGE 370. 12- TERMS, CONDITIONS AND PROVISIONS OF TOWNHOUSE DECLARATION BUT OMITTING ANY I 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 MARCH 15, 1990 UNDER RECEPTION NO. 420629, 13, EASEMENTS, CONDITIONS, COVENANTS, RESTRICTIONS, RESERVATIONS AND NOTES ON THE PLAT OF ALPINE III TOWNHOUSES RECORDED MARCH 15, 1990 UNDER RECEPTION NO. 420630. 14, CLAIMS OF RIGHT, TITLE AND/OR INTEREST IN THE PROPERTY BETWEEN THE WESTERLY BOUNDARY LINE AND THE FENCE AS DEPCITED ON THE IMPROVEMENT LOCATION CERTIFICATE PREPARED BY PEAK LAND CONSULTANTS, INC., CERTIFIED JUNE 14, 2013, JOB NO. 1881ILC, WHETHER SAID CLAIMS ARISE BY ABANDONMENT, ADVERSE POSSESSION OR OTHER MEANS, I5, DEED OF TRUST DATED JULY 26, 2013, FROM BCKL, LLC, A NEW YORK LIMITED LIABILITY COMPANY TO THE PUBLIC TRUSTEE OF EAGLE COUNTY FOR THE USE OF FIRSTBANK TO SECURE THE SUM OF$1,000,000.00 RECORDED JULY 31, 2013, UNDER RECEPTION NO. 201315628. ITEM NOS. 1 THROUGH 3 OF THE GENERAL EXCEPTIONS ARE HEREBY DELETED. ITEM NO. 4 OF THE GENERAL EXCEPTIONS IS DELETED AS TO ANY LIENS OR FUTURE ' LIENS RESULTING FROM WORK OR MATERIAL CONTRACTED FOR OR. FURNISHED AT THE REQUEST OF PHILLIP BERTOLE DECEASED) AND HELEN BERTOLE.