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Home My WebLink AboutADM17-0003 Title.pdf y- O Customer Distribution Land Title Our Order Number:V50045350-2 GUARANTEE COMPANY _Since 190--- Date: 11-17-2016 Property Address: 221 BEAVER DAM AKA LOT 39A BLK 7 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@Itgc.com kkuchler@ltgc.com Company License:CO44565 Contact License:CO281402 PLEASE CONTACT YOUR CLOSER OR CLOSERS ASSISTANT FOR WIRE TRANSFER INSTRUCTIONS Buyer/Borrower Agent for Buyer DEAN MITCHELL 2012 IRREVOCABLE GIFT TRUST CHRISTIANIA REALTY Delivered via:Delivered by Realtor Attention:CHADD ZIEGLER 356 HANSON RANCH ROAD VAIL,CO 81657 970-445-0122(phone) 970-476-5641(work) 970-476-0470(work fax) chaddziegler@gmail.com Delivered via: Electronic Mail Copies:1 Seller/Owner Attorney for Seller GORE CREEK PROPERTIES LLC WEAR TRAVERS PERKINS LLC Attention:HM CAPIGAL GROUP, BEN MAXWELL Attention:GREG PERKINS Delivered via:Electronic Mail 97 MAIN ST#E202 EDWARDS,CO 81632 970-476-7646(work) 866-393-9835(work fax) gperkins@wtpvail.com Delivered via: Electronic Mail Agent for Seller Attorney for Buyer RON BYRNE&ASSOCIATES STOVALL ASSOCIATES PC Attention:RONALD BYRNE Attention:JIM STOVALL 285 BRIDGE STREET 175 MAIN ST#C-109 PERSONAL AND CONFIDENTIAL EDWARDS,CO 81632 VAIL,CO 81657 970-949-4200(work) 970-476-1987(work) 970-797-1874(work fax) 970-476-6747(work fax) jim@vailvalleylaw.net„jennifer@vailvalleylaw.net tthomas@ronbyrne.com Delivered via: Electronic Mail Delivered via:Electronic Mail Copies:1 ,. a rim Land Title GUARANTEE COMPANY —..Sitrc ,T5145.7--- Land gGf- Land Title Guarantee Company Estimate of Title Fees Order Number: V50045350-2 Date: 11-17-2016 Property Address: 221 BEAVER DAM AKA LOT 39A BLK 7 VAIL VILLAGE FLG 1, VAIL, CO 81657 Buyer/Borrower: DEAN MITCHELL 2012 IRREVOCABLE GIFT TRUST Seller: GORE CREEK PROPERTIES, LLC,A COLORADO LIMITED LIABILITY COMPANY Visit Land Title's website at www.ltgc.com for directions to any of our offices. Estimate,of;Title Insurance Fees f : ., ` ALTA Owners Policy 06-17-06(Reissue Rate) $14,256.00 Deletion of General Exceptions 1-4 $65.00 Tax Certificate $26.00 If Land Title Guarantee Company will be closing this transaction,the fees listed above will be collected at closing. Total $14,347.00 THANK YOU FOR YOUR ORDER! ALTA COMMITMENT Old Republic National Title Insurance Company Schedule A Order Number: V50045350-2 Customer Ref-Loan No.: Property Address: . 221 BEAVER DAM AKA LOT 39A BLK 7 VAIL VILLAGE FLG 1, VAIL, CO 81657 1. Effective Date: 11-10-2016 At 5:00 P.M. 2. Policy to be Issued and Proposed Insured: "ALTA"Owner's Policy 06-17-06 $13,500,000.00 Proposed Insured: DEAN MITCHELL 2012 IRREVOCABLE GIFT TRUST 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: GORE CREEK PROPERTIES, LLC,A COLORADO LIMITED LIABILITY COMPANY 5. The Land referred to in this Commitment is described as follows: AAAAAAAAAAAAAAAAAAAAAAAA*AAAAAAAAAAAAAAAAkAAAA*AAAAAAA*AAkAAAAA NOTE: THE FOLLOWING LEGAL DESCRIPTION IS PRELIMINARY AND IS SUBJECT TO CHANGE UPON COMPLIANCE WITH THE REQUIREMENTS UNDER SCHEDULE B-1, HEREIN. A AA AA AAA AAAAAAAAA**************************AA AA AA A AAA*A AAAAAAA LOT 39A,A RESUBDIVISION OF LOT 39, BLOCK 7, VAIL VILLAGE FIRST FILING,ACCORDING TO THE PLAT RECORDED UNDER RECEPTION NO. , COUNTY OF EAGLE, STATE OF COLORADO. Copyright 2006-2016 American Land Title Association. All Rights Reserved AME- LARD TITLE 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: V50045350-2 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. UPON COMPLETION OF ALL IMPROVEMENTS, PROVIDE LAND TITLE GUARANTEE COMPANY WITH AN IMPROVEMENT LOCATION CERTIFICATE. UPON RECEIPT OF A SATISFACTORY IMPROVEMENT LOCATION CERTIFICATE, ITEMS 1 THROUGH 3 OF THE STANDARD EXCEPTIONS WILL BE DELETED. EXCEPTION MAY BE MADE AS TO ANY ADVERSE MATTERS DISCLOSED BY THE IMPROVEMENT LOCATION CERTIFICATE. 2. IF STANDARD EXCEPTION NO. 4 IS TO BE DELETED FROM THE POLICY TO BE ISSUED,THE FOLLOWING DOCUMENTATION MUST BE PROVIDED TO THIS COMPANY AT LEAST 5 BUSINESS DAYS PRIOR TO CLOSING: A.A CURRENT FINANCIAL STATEMENT FROM THE BORROWER AND ANY GUARANTORS OF THE EXISTING CONSTRUCTION LOAN OR THE LOAN TO BE INSURED. B. SUFFICIENT EVIDENCE THAT ALL CONSTRUCTION COSTS HAVE BEEN PAID, OR IF NOT FULLY PAID,A LIST OF WORK TO BE DONE AND ANY OUTSTANDING BALANCES. C.A COPY OF THE CONSTRUCTION LENDERS DISBURSEMENT SPREADSHEET WHICH INCLUDES THE EXISTING BALANCE OF THE DISBURSEMENT ACCOUNT. D.A COPY OF THE CERTIFICATE OF OCCUPANCY. E.AN INDEMNITY AGREEMENT EXECUTED BY THE OWNER AND THE GENERAL CONTRACTOR,AND A FINAL LIEN WAIVER EXECUTED BY THE GENERAL CONTRACTOR NOTE:THE DELETION OF EXCEPTION NO.4 IS SUBJECT TO THE REVIEW OF THE ABOVE INFORMATION BY THE UNDERWRITER OF THE POLICY TO BE ISSUED AND THAT UNDERWRITER'S APPROVAL. 3. RECORD DULY EXECUTED AND ACKNOWLEDGED PLAT OF A RESUBDIVISION OF LOT 39, BLOCK 7, VAIL VILLAGE FILING 1. NOTE:A COPY OF SAID PLAT MUST BE SUBMITTED TO LAND TITLE GUARANTEE COMPANY PRIOR TO RECORDATION. UPON RECEIPT AND REVIEW FURTHER REQUIREMENTS AND/OR EXCEPTIONS MAY BE NECESSARY. 4. RECORDATION OF THE PARTY WALL AGREEMENT FOR A RESUBDIVISION OF LOT 39, BLOCK 7,VAIL VILLAGE FILING 1. 5. EVIDENCE SATISFACTORY TO THE COMPANY THAT THE TERMS, CONDITIONS AND PROVISIONS OF THE TOWN OF VAIL TRANSFER TAX HAVE BEEN SATISFIED. ALTA COMMITMENT Old Republic National Title Insurance Company Schedule B-1 (Requirements) Order Number: V50045350-2 The following are the requirements to be complied with: 6. WRITTEN CONFIRMATION THAT THE INFORMATION CONTAINED IN STATEMENT OF AUTHORITY FOR GORE CREEK PROPERTIES, LLC,A COLORADO LIMITED LIABILITY COMPANY RECORDED AUGUST 19, 2016 AT RECEPTION NO.201613029 IS CURRENT. NOTE: SAID INSTRUMENT DISCLOSES HM CAPITAL GROUP, LLC AS THE MANAGER,THROUGH IT'S MANAGER, BEN MAXWELL,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. 7. AFFIRMATIVE APPROVAL OR CONSENT, IN WRITING, OF A MAJORITY OF THE COMBINED CLASS A AND CLASS B MEMBERS OF GORE CREEK PROPERTIES, LLC,A COLORADO LIMITED LIABILITY COMPANY APPROVING SALE OF SUBJECT PROPERTY. 8. WRITTEN CONFIRMATION THAT THE INFORMATION CONTAINED IN STATEMENT OF AUTHORITY FOR DEAN MITCHELL 2012 IRREVOCABLE GIFT TRUST RECORDED APRIL 08, 2015 AT RECEPTION NO. 201505975 IS CURRENT. NOTE: SAID INSTRUMENT DISCLOSES JILL E. MITCHELL 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 THE DEAN MITCHELL 2012 IRREVOCABLE GIFT TRUST DISCLOSES JILL E. MITCHELL AS THE TRUSTEE THAT IS AUTHORIZED TO EXECUTE LEGAL INSTRUMENTS ON BEHALF OF SAID ENTITY. 9. RELEASE OF DEED OF TRUST DATED AUGUST 04, 2014 FROM GORE CREEK PROPERTIES, LLC,A COLORADO LIMITED LIABILITY COMPANY TO THE PUBLIC TRUSTEE OF EAGLE COUNTY FOR THE USE OF FIRST WESTERN TRUST BANK TO SECURE THE SUM OF$3,250,000.00 RECORDED AUGUST 05, 2014, UNDER RECEPTION NO. 201413140. SAID DEED OF TRUST WAS FURTHER SECURED IN ASSIGNMENT OF RENTS RECORDED AUGUST 05, 2014, UNDER RECEPTION NO. 201413141. 10. SPECIAL WARRANTY DEED FROM GORE CREEK PROPERTIES, LLC,A COLORADO LIMITED LIABILITY COMPANY TO DEAN MITCHELL 2012 IRREVOCABLE GIFT TRUST CONVEYING SUBJECT PROPERTY. REQUIREMENTS TO PROVIDE OWNERS COVERAGE IN THE OWNER'S POLICY TO BE ISSUED A. UPON RECEIPT BY THE COMPANY OF ASATISFACTORY FINAL AFFIDAVIT AND AGREEMENT FROM THE SELLER AND PROPOSED INSURED,AND AN IMPROVEMENT LOCATION CERTIFICATE OF THE LAND,AND COMPLETION OF THE ITEMS IN REQUIREMENT NO. 2, EXCEPTIONS 1 THROUGH 4 OF THE STANDARD EXCEPTIONS WILL BE DELETED.ANY ADVERSE MATTERS DISCLOSED BY THE FINAL AFFIDAVIT AND AGREEMENT AND IMPROVEMENT LOCATION CERTIFICATE WILL BE ADDED AS EXCEPTIONS. B. IF LAND TITLE GUARANTEE COMPANY CONDUCTS THE CLOSING OF THE CONTEMPLATED TRANSACTIONS AND RECORDS THE DOCUMENTS IN CONNECTION THEREWITH, EXCEPTION NO. 5 OF THE STANDARD EXCEPTIONS WILL BE DELETED. ALTA COMMITMENT Old Republic National Title Insurance Company Schedule B-1 (Requirements) Order Number: V50045350-2 The following are the requirements to be complied with: 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: V50045350-2 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 OFA 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 JULY 12, 1899 IN BOOK 48 AT PAGE 475. 9. RIGHT OF THE PROPRIETOR OFA 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. 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. 11. EASEMENTS, CONDITIONS, COVENANTS, RESTRICTIONS, RESERVATIONS AND NOTES ON THE PLAT OF VAIL VILLAGE FIRST FILING RECORDED AUGUST 6, 1962 UNDER RECEPTION NO. 96382. 12. RIGHTS AND EASEMENTS FOR NAVIGATION AND FISHERY IN FAVOR OF THE PUBLIC WHICH MAY - Old Republic National Title Insurance Company Schedule 8-2 (Exceptions) Order Number: V50045350-2 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: EXIST OVER THAT PORTION OF SAID LAND LYING BENEATH THE WATER OF GORE CREEK AS SHOWN ON PLAT RECORDED AUGUST 6, 1962 UNDER RECEPTION NO. 96382. 13. TERMS, CONDITIONS AND PROVISIONS OF EASEMENT RECORDED DECEMBER 07, 1989 AT RECEPTION NO. 415551. 14. TERMS, CONDITIONS AND PROVISIONS OF EASEMENT RECORDED APRIL 07, 2015 AT RECEPTION NO. 201505856.