HomeMy WebLinkAbout332 Title commitment.pdf IF"
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LandTitle` Our Order Number: V50045214-3
GUARANI-1"E GONFANY
—SiPICE 1967` Date: 09-20-2016
Property Address: 332 MILL CREEK CIRCLE AKA PART OF LOT 10 & LOT 11 BLK 1 VAIL VILLAGE FLG 1,
VAIL, CO 81657
For Closing Assistance For Title Assistance
Kathryn Kuchler VAIL TITLE DEPARTMENT
0090 BENCHMARK RD#205 610 WEST LIONSHEAD CIRCLE#300
PO BOX 3480 VAIL,CO 81657
AVON, CO 81620 970-477-4500(phone)
970-748-4782(phone) 970-476-4534(fax)
866-358-6634(fax) eaglecountyrequests@ltgc.com
kkuchler@ltgc.com
Company License:CO44565
Contact License:CO281402
PLEASE CONTACT YOUR CLOSER OR CLOSER'S ASSISTANT FOR WIRE TRANSFER INSTRUCTIONS
BuyerlBorrower LIV SOTHEBY'S INTERNATIONAL REALTY
BISCAYNE TRUST Attention:JAN JOHNSON
Attention: HOWARD KING,TRUSTEE BEAVER CREEK LODGE
Delivered via: Electronic Mail PO BOX 539
EDWARDS,CO 81632
970-845-0422(work)
970-845-0423(work fax)
jan.johnson@sothebysrealty.com
Delivered via: Electronic Mail
Seller/Owner WG&S, LLP
FG VAIL LTD Attention: ERIC WASSERMAN
Attention: BILL GUNN 10990 WILSHIRE BLVD.
Delivered via: Electronic Mail 8TH FLOOR
LOS ANGELES,CA 90024
310-954-1056(work)
310-954-1060(work fax)
ewasserman@wgsllp.com
Delivered via: Electronic Mail
Agent for Seller Attorney for Buyer
RON BYRNE&ASSOCIATES WEAR TRAVERS PERKINS LLC
Attention: RONALD BYRNE Attention:GREG PERKINS
285 BRIDGE STREET 97 MAIN ST#E202
PERSONAL AND CONFIDENTIAL EDWARDS,CO 81632
VAIL,CO 81657 970-306-7554(phone)
970-476-1987(work) 970-476-7646(work)
970-476-6747(work fax) 866-393-9835(work fax)
tthomas@ronbyrne.com gperkins@wtpvail.com
Delivered via: Electronic Mail Delivered via: Electronic Mail
Agent for Buyer Attorney for Buyer
LIV SOTHEBY'S INTERNATIONAL REALTY Attention: HOWARD KING
Attention:TYE STOCKTON hking@khpslaw.com
292 E MEADOW DR#101 Delivered via: Electronic Mail
MOUNTAIN HAUS
VAIL,CO 81657
970-471-2557(phone)
970-476-7944(work)
970-470-6220(work fax)
tsg@livsothebysrealty.com
Delivered via: Electronic Mail
Attorney for Seller Lender-New Loan
SPIERER WOODWARD CORBALIS&GOLDBERG CITY NATIONAL BANK
Attention:JOHN WOODWARD Attention:STEPHANIE DE LA CRUZ
2 INVERNESS DR EAST#200 555 S. FLOWER ST.,21ST FLOOR
ENGLEWOOD,CO 80112 LOS ANGELES,CA 90071
303-792-3456(work) 213-673-8535(work)
303-792-9092(work fax) stephanie.delacruz@cnb.com
jwoodward@practicallawyer.com Delivered via: Electronic Mail
Delivered via: Electronic Mail
Land stile
GUA RANTES COMPANY
Si7Ct 190
Land Title Guarantee Company
Estimate of Title Fees
Order Number: V50045214-3 Date: 09-20-2016
Property Address: 332 MILL CREEK CIRCLE AKA PART OF LOT 10& LOT 11 BLK 1 VAIL VILLAGE FLG 1, VAIL,
CO 81657
Buyer/Borrower: BISCAYNE TRUST
Seller: FG VAIL LTD.,A TEXAS LIMITED PARTNERSHIP
Visit Land Title's website at www.ltgc.com for directions to any of our offices.
Estimate of Title Insurance Fees
ALTA Owners Policy 06-17-06 $22,240.00
Deletion of General Exceptions 1-4 $65.00
ALTA Loan Policy 06-17-06 (Includes applicable Endorsements and the first Tax Certificate) $12,250.00
Endorsement ALTA 8.1-06 $0.00
Endorsement 100-06 $0.00
Endorsement 100.29-06 $0.00
Tax Certificate $0.00
If Land Title Guarantee Company will be closing this transaction,the fees listed above will be collected at closing.
Total $34,555.00
THANK YOU FOR YOUR ORDER!
ALTA COMMITMENT
Old Republic National Title Insurance Company
Schedule A
Order Number: V50045214-3
Customer Ref-Loan No.:
Property Address:
332 MILL CREEK CIRCLE AKA PART OF LOT 10 & LOT 11 BLK 1 VAIL VILLAGE FLG 1, VAIL, CO 81657
1. Effective Date:
09-01-2016 At 5:00 P.M.
2. Policy to be Issued and Proposed Insured:
"ALTA" Owner's Policy 06-17-06 $15,000,000.00
Proposed Insured:
BISCAYNE TRUST
"ALTA" Loan Policy 06-17-06 $10,500,000.00
Proposed Insured:
CITY NATIONAL BANK, ITS SUCCESSORS
AND/OR ASSIGNS
3. The estate or interest in the land described or referred to in this Commitment and covered
herein is:
A FEE SIMPLE INTEREST AS TO PARCEL AAND B,AND AN EASEMENT INTEREST AS TO PARCEL
C
4. Title to the estate or interest covered herein is at the effective date hereof vested in:
FG VAIL LTD.,A TEXAS LIMITED PARTNERSHIP
5. The Land referred to in this Commitment is described as follows:
PARCEL A:
LOT 11, BLOCK 1, VAIL VILLAGE FIRST FILING,ACCORDING TO THE RECORDED PLAT THEREOF,
COUNTY OF EAGLE, STATE OF COLORADO.
PARCEL B:
A PORTION OF LOT 10 BLOCK 1, VAIL VILLAGE, FIRST FILING, MORE PARTICULARLY DESCRIBED AS
FOLLOWS:
THE WEST 3.00 FEET AND THE NORTH 6.50 FEET OF SAID LOT 10, MORE PARTICULARLY DESCRIBED
AS FOLLOWS:
BEGINNING AT THE SOUTHWEST CORNER OR SAID LOT 10, THENCE NORTH 18 DEGREES 43
MINUTES EAST 107.92 FEET ALONG THE WESTERLY LOT LINE TO THE NORTHWEST CORNER
THEREOF; THENCE SOUTH 83 DEGREES 01 MINUTES EAST 142.33 FEET ALONG THE NORTHERLY
LOT LINE TO THE NORTHEAST CORNER THEREOF; THENCE SOUTH 12 DEGREES 38 MINUTES WEST
6.53 FEET ALONG THE EASTERLY LOT LINE; THENCE NORTH 83 DEGREES 01 MINUTES WEST 139.98
FEET PARALLEL WITH AND 6.50 FEET FROM SAID NORTHERLY LINE THENCE SOUTH 18 DEGREES 43
MINUTES WEST 101.91 FEET PARALLEL WITH AND 3.00 FEET FROM SAID WESTERLY LINE TO A POINT
ALTA COMMITMENT
Old Republic National Title Insurance Company
Schedule A
Order Number: V50045214-3
Customer Ref-Loan No.:
ON THE SOUTHERLY LOT LINE WIHCI IS ON THE ARC OF A 1426.5 FOOT RADIUS CURVE; THENCE
WESTERLY 3.00 FEET ALONG THE ARC OF SAID CURVE TO THE RIGHT WHOSE LONG CHORD BEARS
NORTH 71 DEGREES 15 MINUTES 38 SECONDS WEST 3.00 FEET TO THE POINT OF BEGINNING,
COUNTY OF EAGLE, STATE OF COLORADO.
PARCEL C:
THOSE EASEMENT RIGHTS CREATED BY INSTRUMENT RECORDED SEPTEMBER 14, 1977 IN BOOK 259
AT PAGE 714 AND AS AMENDED IN INSTRUMENT RECORDED FEBRUARY 26, 1988 IN BOOK 479 AT
PAGE 594 AND AS AMENDED IN INSTRUMENT RECORDED JANUARY 25, 2012 UNDER RECEPTION NO.
201201595.
AND
THOSE EASEMENT RIGHTS CREATED BY INSTRUMENT RECORDED JULY 21, 1989 IN BOOK 510 AT
PAGE 107.
Copyright 2006-2016 American Land Title Association. All Rights ReservedLAND TITLF
AMS
AtiOAIATION
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.
ALTA COMMITMENT
Old Republic National Title Insurance Company
Schedule B-1
(Requirements)
Order Number: V50045214-3
The following are the requirements to be complied with:
Payment to or for the account of the grantors or mortgagors of the full consideration for the estate or
interest to be insured.
Proper instrument(s) creating the estate or interest to be insured must be executed and duly filed for
record, to-wit:
1. LAND TITLE GUARANTEE COMPANY HAS RECEIVED AN IMPROVEMENT LOCATION
CERTIFICATE/SURVEY FOR THE SUBJECT PROPERTY PREPARED BY INTER-MOUNTAIN
ENGINEERING, JOB NO. 08-0076S, DATED DECEMBER 10, 2008, THAT IS ACCEPTABLE TO THE
COMPANY. *** IN ADDITION,A SURVEY AFFIDAVIT, EXECUTED BY FG VAIL LTD.,A TEXAS LIMITED
PARTNERSHIP, IS NECESSARY INDICATING THAT THERE HAVE BEEN NO NEW IMPROVEMENTS,
EASEMENTS OR BOUNDARY CHANGES SINCE THE DATE OF SAID IMPROVEMENT LOCATION
CERTIFICATE/SURVEY AND THAT THE IMPROVEMENTS SHOWN ON SAID IMPROVEMENT LOCATION
CERTIFICATE/SURVEY HAVE NOT BEEN ALTERED SINCE THE DATE OF SAID IMPROVEMENT
LOCATION CERTIFICATE/SURVEY. ***
2. EVIDENCE SATISFACTORY TO THE COMPANY THAT THE TERMS, CONDITIONS AND PROVISIONS OF
THE TOWN OF VAIL TRANSFER TAX HAVE BEEN SATISFIED.
3. (ITEM INTENTIONALLY DELETED)
4. WRITTEN CONFIRMATION THAT THE INFORMATION CONTAINED IN STATEMENT OF AUTHORITY FOR
FG VAIL LTD.,A TEXAS LIMITED PARTNERSHIP RECORDED MARCH 17, 2010 AT RECEPTION NO.
201005139 IS CURRENT.
NOTE: SAID INSTRUMENT DISCLOSES WILLIAM C. GUNN, TRUSTEE OF WEVS GST TRUST, SOLE
MEMBER OF WEVS LLC, GENERAL PARTNER AS AUTHORIZED TO EXECUTE INSTRUMENTS
CONVEYING, ENCUMBERING OR OTHERWISE AFFECTING TITLE TO REAL PROPERTY ON BEHALF
OF SAID ENTITY. IF THIS INFORMATION IS NOT ACCURATE,A CURRENT STATEMENT OF AUTHORITY
MUST BE RECORDED.
NOTE: THE PARTNERSHIP AGREEMENT FOR FG VAIL LTD.,ATEXAS LIMITED PARTNERSHIP
DISCLOSES WILLIAM C. GUNN, TRUSTEE OF WEVS GST TRUST, SOLE MEMBER OF WEVS LLC,
GENERAL PARTNER AS THE GENERAL PARTNER THAT IS AUTHORIZED TO EXECUTE LEGAL
INSTRUMENTS ON BEHALF OF SAID ENTITY.
5. WRITTEN CONFIRMATION THAT THE INFORMATION CONTAINED IN STATEMENT OF AUTHORITY FOR
BISCAYNE TRUST RECORDED DECEMBER 19, 2013 AT RECEPTION NO. 201324863 IS CURRENT.
NOTE: SAID INSTRUMENT DISCLOSES HOWARD E. KING AS THE TRUSTEE AUTHORIZED TO
EXECUTE INSTRUMENTS CONVEYING, ENCUMBERING OR OTHERWISE AFFECTING TITLE TO REAL
PROPERTY ON BEHALF OF SAID ENTITY. IF THIS INFORMATION IS NOT ACCURATE,A CURRENT
STATEMENT OF AUTHORITY MUST BE RECORDED.
NOTE: THE TRUST AGREEMENT FOR BISCAYNE TRUST DISCLOSES HOWARD E. KING AS THE
TRUSTEE AUTHORIZED TO EXECUTE LEGAL INSTRUMENTS ON BEHALF OF SAID ENTITY.
6. WARRANTY DEED FROM FG VAIL LTD.,ATEXAS LIMITED PARTNERSHIP TO BISCAYNE TRUST
ALTA COMMITMENT
Old Republic National Title Insurance Company
Schedule B-1
(Requirements)
Order Number: V50045214-3
The following are the requirements to be complied with:
CONVEYING SUBJECT PROPERTY.
7. DEED OF TRUST FROM BISCAYNE TRUST TO THE PUBLIC TRUSTEE OF EAGLE COUNTY FOR THE
USE OF CITY NATIONAL BANK TO SECURE THE SUM OF$10,500,000.00.
NOTE: ITEMS 1-3 OF THE STANDARD EXCEPTIONS WILL BE DELETED FROM THE MORTGAGEE'S
POLICY UPON RECEIPT OF A SURVEY AFFIDAVIT. ITEM 4 OF THE STANDARD EXCEPTIONS WILL BE
DELETED UPON RECEIPT OF A SATISFACTORY LIEN AFFIDAVIT. FORM 100 WILL BE ATTACHED TO
THE MORTGAGEE'S POLICY WHEN ISSUED.
NOTE:ALL PARTIES WILL BE REQUIRED TO SIGN THE LIEN AFFIDAVIT AT CLOSING.
REQUIREMENTS TO PROVIDE OWNER'S COVERAGE IN THE OWNER'S POLICY TO BE ISSUED
A. UPON RECEIPT BY THE COMPANY OF A SATISFACTORY SURVEY AFFIDAVIT AND A SATISFACTORY
FINAL AFFIDAVIT AND AGREEMENT FROM THE SELLER AND PROPOSED INSURED, EXCEPTIONS 1
THROUGH 4 OF THE STANDARD EXCEPTIONS WILL BE DELETED.ANY ADVERSE MATTERS
DISCLOSED BY THE FINAL AFFIDAVIT AND AGREEMENT WILL BE ADDED AS EXCEPTIONS.
B. IF LAND TITLE GUARANTEE CONDUCTS THE CLOSING OF THE CONTEMPLATED TRANSACTIONS
AND RECORDS THE DOCUMENTS IN CONNECTION THEREWITH, EXCEPTION NO. 5 OF THE
STANDARD EXCEPTIONS WILL BE DELETED.
C. UPON RECEIPT OF PROOF OF PAYMENT OF ALL PRIOR YEARS' TAXES AND ASSESSMENTS,
EXCEPTION NO. 6 OF THE STANDARD EXCEPTIONS WILL BE AMENDED TO READ:
TAXES AND ASSESSMENTS FOR THE YEAR 2016 AND SUBSEQUENT YEARS.
NOTE: THE ISSUANCE OF THE POLICIES AND/OR ENDORSEMENTS REFERENCED IN THIS
COMMITMENT ARE SUBJECT TO THE APPROVAL OF THE UNDERWRITER OF SAID POLICIES AND/OR
ENDORSEMENTS. THIS COMMITMENT MAY BE REVISED AS REQUIRED BY THE UNDERWRITER TO
ISSUE THE POLICIES AND/OR ENDORSEMENTS REQUESTED. THIS NOTE WILL BE DELETED UPON
THE RECEIPT OF SAID APPROVAL.
Old Republic National Title Insurance Company
Schedule B-2
(Exceptions)
Order Number: V50045214-3
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. 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. Defects, liens, encumbrances, adverse claims or other matters, if any, created, first appearing in the
public records or attaching subsequent to the effective date hereof but prior to the date of the
proposed insured acquires of record for value the estate or interest or mortgage thereon covered by
this Commitment.
6. (a)Taxes or assessments that are not shown as existing liens by the records of any taxing authority
that levies taxes or assessments on real property or by the Public Records; (b) proceedings by a
public agency that may result in taxes or assessments, or notices of such proceedings,whether or
not shown by the records of such agency or by the Public Records.
7. (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.
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 PATENT RECORDED
SEPTEMBER 04, 1923 IN BOOK 93 AT PAGE 98.
9. EASEMENTS, CONDITIONS, COVENANTS, RESTRICTIONS, RESERVATIONS AND NOTES ON THE
PLAT OF VAIL VILLAGE FIRST FILING RECORDED AUGUST 6, 1962 UNDER RECEPTION NO. 96382.
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 AS CONTAINED IN INSTRUMENT RECORDED AUGUST 10, 1962, IN BOOK 174
AT PAGE 179 AND AS AMENDED IN INSTRUMENT RECORDED APRIL 10, 1981, IN BOOK 321 AT PAGE
423.
11. RIGHT OF WAY EASEMENT GRANTED TO COMMUNITY TELEVISION INVESTMENT, INC., BY
INSTRUMENT RECORDED DECEMBER 17, 1968 AS RECEPTION NO. 109770.
12. RIGHT OF WAY EASEMENT GRANTED TO MOUNTAIN STATES TELEPHONE AND TELEGRAPH
COMPANY RECORDED NOVEMBER 8, 1974 IN BOOK 237 AT PAGE 284.
Old Republic National Title Insurance Company
Schedule B-2
(Exceptions)
Order Number: V50045214-3
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. TERMS, CONDITIONS, PROVISIONS, BURDENS AND OBLIGATIONS AS SET FORTH IN EASEMENT
AGREEMENT RECORDED SEPTEMBER 14, 1977 IN BOOK 259 AT PAGE 714,AND AS AMENDED IN
INSTRUMENT RECORDED FEBRUARY 26, 1988 IN BOOK 479 AT PAGE 594.
NOTE:ASSIGNMENT AND ACCEPTANCE OF JOINT VENTURE INTEREST RECORDED JULY 27, 1989
IN BOOK 510 AT PAGE 424,AND RECORDED JUNE 04, 1990, UNDER RECEPTION NO. 426770.
14. TERMS, CONDITIONS, PROVISIONS, BURDENS AND OBLIGATIONS AS SET FORTH IN DEED OF
PERPETUAL EASEMENT RECORDED JULY 21, 1989 IN BOOK 510 AT PAGE 107.
15. TERMS, CONDITIONS, PROVISIONS, BURDENS AND OBLIGATIONS AS SET FORTH IN HOLY CROSS
ENERGY UNDERGROUND RIGHT OF WAY EASEMENTS RECORDED OCTOBER 22, 2010 UNDER
RECEPTION NO. 201021409.
16. TERMS, CONDITIONS, PROVISIONS, BURDENS AND OBLIGATIONS AS SET FORTH IN
MEMORANDUM OF AMENDMENT AND RESTATEMENT OF HOBASCO POOL JOINT VENTURE
AGREEMENT RECORDED JANUARY 25, 2012 UNDER RECEPTION NO. 201201595.
17. IT IS UNDERSTOOD THAT THE PROPERTY ABOVE DESCRIBED IS AN UNDIVIDED INTEREST AND
THERE IS EXCEPTED FROM THIS POLICY AND RIGHTS, TITLE OR INTERESTS OF THE OTHER
TENANTS IN COMMON;AND INSURER SHALL NEVER BE LIABLE TO REPRESENT THE INSURED OR
TO PAY THE COURT COSTS IN ANY LITIGATION FOR PARTITION OR FOR ENFORCEMENT OF ANY
OTHER RIGHTS, TITLE OR INTERESTS OF SUCH TENANTS IN COMMON. (AFFECTS PARCEL 3)
18. MATTERS DISCLOSED ON IMPROVEMENT LOCATION CERTIFICATE ISSUED BY INTER-MOUNTAIN
ENGINEERING CERTIFIED DECEMBER 10, 2008, JOB NO. 08-0076S.
SAID DOCUMENT STORED AS OUR ESI 5230673.
IF"
JOINT NOTICE OF PRIVACY POLICY OF
LAND TITLE GUARANTEE COMPANY,
Land I lL LAND TITLE GUARANTEE COMPANY-GRAND JUNCTION,
LAND TITLE GUARANTEE COMPANY OF SUMMIT COUNTY
LAND TITLE INSURANCE CORPORATION AND
OLD REPUBLIC NATIONAL TITLE INSURANCE COMPANY
This Statement is provided to you as a customer of Land Title Guarantee Company and Meridian Land Title,
LLC, as agents for Land Title Insurance Corporation and Old Republic National Title Insurance Company.
We want you to know that we recognize and respect your privacy expectations and the requirements of federal
and state privacy laws. Information security is one of our highest priorities. We recognize that maintaining your
trust and confidence is the bedrock of our business. We maintain and regularly review internal and external
safeguards against unauthorized access to non-public personal information ("Personal Information").
In the course of our business,we may collect Personal Information about you from:
► applications or other forms we receive from you, including communications sent through TMX, our web-based
transaction management system;
► your transactions with, or from the services being performed by, us, our affiliates, or others;
► a consumer reporting agency, if such information is provided to us in connection with your transaction;
and
► the public records maintained by governmental entities that we either obtain directly from those entities, or from our
affiliates and non-affiliates.
Our policies regarding the protection of the confidentiality and security of your Personal Information are as follows:
► We restrict access to all Personal Information about you to those employees who need to know that information in
order to provide products and services to you.
► We maintain physical, electronic and procedural safeguards that comply with federal standards to protect your
Personal Information from unauthorized access or intrusion.
► Employees who violate our strict policies and procedures regarding privacy are subject to disciplinary action.
► We regularly access security standards and procedures to protect against unauthorized access to Personal
Information.
WE DO NOT DISCLOSE ANY PERSONAL INFORMATION ABOUT YOU WITH ANYONE FOR ANY PURPOSE THAT IS
NOT PERMITTED BY LAW.
Consistent with applicable privacy laws, there are some situations in which Personal Information may be
disclosed. We may disclose your Personal Information when you direct or give us permission;when we are
required by law to do so,for example, if we are served a subpoena; 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.
Our policy regarding dispute resolution is as follows. Any controversy or claim arising out of or relating to our privacy policy, or
the breach thereof, shall be settled by arbitration in accordance with the rules of the American Arbitration Association, and
judgment upon the award rendered by the arbitrator(s) may be entered in any court having jurisdiction thereof.
VIII LAND TITLE GUARANTEE COMPANY
LAND TITLE GUARANTEE COMPANY-GRAND JUNCTION
Land Title
ti. • : • ,L,: •., 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 will be obtained from the county treasurer of the county in which the real
property is located or that county treasurer's authorized agent unless the proposed insured provides written instructions to the
contrary. (for an Owner's Policy of Title Insurance pertaining to a sale of residential real property)
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 8-1-2 requires that"Every title entity shall be 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-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 disclosing that a mineral estate has been severed from the surface estate, in Schedule
B-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 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.
Note: Pursuant to Colorado Division of Insurance Regulations 8-1-3, notice is hereby given of the availability of a closing protection
letter for the lender, purchaser, lessee or seller in connection with this transaction.
,.�� �
PF . Commitment to Insure
e * �s
a�* -0( c� ALTA Commitment-2006 Rev.
* y
* 0 _ OLD REPUBLIC NATIONAL TITLE INSURANCE COMPANY,a Minnesota 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
* * C)).: Insured named in Schedule A,as owner or mortgagee of the estate or interest in the land described or referred to in Schedule A,
� d a , and Bandpythe Conditionsof t
upon payment
thepremiums and Commitment.
and comliance with the requirements;all subject to the provisions of Schedule A
C�O '
,,,,,,,,
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 months after the Effective Date or when the policy or
policies committed for shall issue,whichever first occurs,provided that the failure to issue such policy or policies is not the fault of the Company.
CONDITIONS AND STIPULATIONS
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 acquires 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
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 the 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
www.alta.org.
STANDARD EXCEPTIONS
In addition to the matters contained in the Conditions and Stipulations and Exclusions from Coverage above referred to,this Commitment is also subject to the
following:
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 or 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 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.
IN WITNESS WHEREOF,Old Republic National 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 to be valid when countersigned by a validating officer or other authorized signatory.
Issued by: ,,,,, a Old Republic National Title Insurance Company
Land Title Guarantee Company �I 4 TITS •, a Stock Company
3033 East First Avenue P'
F
�r1 * 6h , 400 Second Avenue South
Suite 600 ,I,> * 4 6.; Minneapolis,Minnesota 55401
Denver,Colorado 80206 Q * . (612)371-1111
303-321-1880 C? * * Z
cr 77 (fl * T ry/ r Mark Bilbrey
President
��� p. 1}t O• AMERICAN
John E.Freyer -r-70j_* * * / LAND TITLE
President 'i,V 0� Nda�: ASSOCIATION
Authorized Officer or Agent 'i ,,,,,, ,
Sec a ryager