HomeMy WebLinkAboutPEC17-0027 Title Report Treetops Liquor CUP.pdfLandl1tte·
GUARA!o'TEE COMI'ANY
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Land Title Guarantee Company
Estimate of Title Fees
Order Number: ABC50044829-4 Date: 09-26-2016
Property Address: 450 E LIONSHEAD CIR. AKA UNIT X TREETOPS CONDO, VAIL, CO 81657
Buyer/Borrower: THE JEWISH RESOURCE CENTER-CHABAD OF VAIL, INC., A COLORADO NONPROFIT
CORPORATION
Seller: HIGH POINT INVESTORS, LLC, A COLORADO LIMITED LIABILITY COMPANY
Visit Land Title's website at www.ltgc.com for directions to any of our offices.
Estimate ofTitle Insurance Fees . '•.
. ·• .
ALTA Owners Policy 06-17-06 $3,702.00
Deletion of Exceptions 1-3 $60.00
Deletion of General Exception 4 $25.00
Endorsement ALTA 9.2-06 $1,481.00
· Endorsement ALTA 17-06 $100.00
Endorsement ALTA 17.2-06 $500.00
Endorsement ALTA 18-06 $100.00
Endorsement ALTA 22-06 $100.00
Endorsement ALTA 26-06 $200.00
Endorsement ALTA 39-06 $0.00
Endorsement Arbitration Deletioric06 $0.00
Endorsement 100.33-06 $100.00
ALTA Loan Policy 06-17-06 $150.00
Endorsement 100-06 $436.00
Tax Certificate $42.00
If Land Title Guarantee Company will be closing this transaction, the fees listed above will be collected at closing.
Total $6,996.00
THANK YOU FOR YOUR ORDER!
ALTA COMMITMENT
First American Title Insurance Company
Schedule A
Order Number: ABC50044829-4
Customer Ref-Loan No.:
Property Address:
450 E LIONSHEAD ~IR. AKA UNIT X TREETOPS CONDO, VAIL, CO 81657
1. Effective Date:
09-09-2016 At 5:00P.M.
2. Policy to be Issued and Proposed Insured:
"ALTA" Owner's Policy 06-17-06
Proposed Insured:
THE JEWISH RESOURCE CENTER -CHABAD OF
VAIL, INC., A COLORADO NONPROFIT
CORPORATION
"ALTA" Loan Policy 06-17-06
Proposed Insured:
FIRSTBANK, ITS SUCCESSORS AND/OR
ASSIGNS
$3,900,000.00
$2,000,000.00
3. The estate or interest in the land described or referred to in this Commitment and covered
herein is:
AFEESIMPLE
4. Title to the estate or interest covered herein is at the effective date hereof vested in:
HIGH POINT INVESTORS, LLC, A COLORADO LIMITED LIABILITY COMPANY
5. The Land referred to in this Commitment is described as follows:
CONDOMINIUM UNIT X, TREETOPS PLAZA & GARAGE CONDOMINIUMS, ACCORDING TO THE
CONDOMINIUM MAP RECORDED APRIL 23,,1993 IN BOOK 607 AT PAGE 205, AND AS DEFINED AND
DESCRIBED IN THE CONDOMINIUM DECLARATION RECORDED APRIL 23, 1993, IN BOOK 607 AT PAGE
204, COUNTY OF EAGLE, STATE OF COLORADO.
Copyright 2006-2016 American Land Title Association. All Rights Reserved
The use of this Form is resq-icted 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.
-AMERICAN
!.~DTITlE
Order Number: ABC50044829-4
ALTA COMMITMENT
First American Title Insurance Company
Schedule B Section 1
. (Requirements)
The following are the requirements to be complied with:
Item (a) Payment to or for the account of the grantors or mortgagors of the full consideration for the ·
estate or interest to be insured.
Item (b) Proper instrurrient(s) creating the estate or interest to be insured must be executed and duly
filed for record, to-wit:
Item (c) Payment of all taxes, charges or assessments levied and assessed against the subject
premises which are due and payable.
Item (d) Additional requirements, if any disclosed below:
1. EVIDENCE SATISFACTORY TO THE COMPANY THAT THE TERMS, CONDITIONS AND PROVISIONS OF
THE TOWN OF VAIL TRANSFER TAX HAVE BEEN SATISFIED.
2. (ITEM INTENTIONALLY DELETED)
3. DULY EXECUTED AND ACKNOWLEDGED STATEMENT OF AUTHORITY SETTING FORTH THE NAME OF
HIGH POINT INVESTORS, LLC, A COLORADO LIMITED LIABILITY COMPANY AS A LIMITED LIABILITY
COMPANY. THE STATEMENT OF AUTHORITY MUST STATE UNDER WHICH LAWS THE ENTIJY WAS
CREATED, THE MAILING ADDRESS OF THE ENTITY, AND THE NAME AND POSITION OF THE
PERSON(S) AUTHORIZED TO EXECUTE INSTRUMENTS CONVEYING, ENCUMBERING; OR
OTHERWISE AFFECTING TITLE TO REAL PROPERTY ON BEHALF OF THE ENTITY AND OTHERWISE
COMPLYING WITH THE PROVISIONS OF SECTION 38-30-172, CRS ..
NOTE: THE STATEMENT OF AUTHORITY MUST BE RECORDED WITH THE CLERK AND RECORDER.
NOTE: THE OPERATING AGREEMENT FOR HIGH POINT INVESTORS, LLC, A COLORADO LIMITED
LIABILITY COMPANY DISCLOSES KENNETH S. MCCORMICK, DONNA LIONBERGER. ANDREA
HAGEMAN, KYLE THOMPSON AS THE MANAGERS THAT ARE AUTHORIZED TO EXECUTE LEGAL
INSTRUMENTS ON BEHALF OF SAID ENTITY.
ONLY ONE MANAGER NEEDS TO SIGN.
4. · CERTIFIED COPY OF RESOLUTION OF THE GOVERNING BOARD OF THE THE JEWISH RESOURCE
CENTER-CHABAD OF VAIL, INC., A COLORADO NONPROFIT CORPORATION AUTHORIZING THE
ACQUISITION OF SUBJECT PROPERTY AND EXECUTION OF NECESSARY DOCUMENTS, AND
RECITING THAT THE BOARD HAS BEEN DULY AUTHORIZED IN THE PREMISES. SAID RESOLUTION
MUST BE PROPERLY CERTIFIED BY AN OFFICER OF THE CORPORATION WITH THE CORPORATE
SEAL AFFIXED. SAID RESOLUTION MUST BE SUBMITTED TO AND APPROVED BY LAND TITLE
GUARANTEE COMPANY BUT NEED NOT BE RECORDED.
5.,. WARRANTY DEED FROM HIGH POINT INVESTORS, LLC, A COLORADO LIMITED LIABILITY COMPANY
TO THE JEWISH RESOURCE CENTER-CHABAD OF VAIL, INC., A COLORADO NONPROFIT
CORPORATION CONVEYING SUBJECTPROPERTY.
Q,. DEED OF TRUST FROM THE JEWISH RESOURCE CENTER-CHABAD OF VAIL, INC., A COLORADO
NONPROFIT CORPORATION TO THE PUBLIC TRUSTEE OF EAGLE COUNTY FOR THE USE OF
FIRSTBANK TO SECURE THE SUM OF $2,000,000.00.
Order Number: ABC50044829-4
ALTA COMMITMENT
First American Title Insurance Company
Schedule B Section 1
(Requirements)
The following are the requirements to be complied with:
NOTE: ITEMS 1-3 OF THE GENERAL EXCEPTIONS TO THE OWNERS POLICY ARE HEREBY DELETED.
UPON THE APPROVAL OF THE COMPANY AND THE RECEIPT OF A NOTARIZED FINAL LIEN AFFIDAVIT,
ITEM NO. 4 OF THE GENERAL EXCEPTIONS TO THE OWNERS POLICY WILL BE AMENDED AS
FOLLOWS:
ITEM NO.4 OF THE GENERAL EXCEPTIONS IS DELETED AS TO ANY LIENS OR FUTURE LIENS
RESULTING FROM WORK OR MATERIAL FURNISHEDAT THE SPECIFIC, DIRECT REQUEST, AND WITH
THE ACTUAL KNOWLEDGE OF HIGH POINT INVESTORS, LLC, A COLORADO LIMITED LIABILITY
COMPANY.
FIRST AMERICAN TITLE INSURANCE COMPANY SHALL HAVE NO LIABILITY FOR ANY LIENS ARISING
FROM WORK OR MATERIAL FURNISHED AT THE SPECIFIC, DIRECT REQUEST, AND WITH THE
ACTUAL KNOWLEDGE OF THE JEWISH RESOURCE CENTER-CHABAD OF VAIL, INC., A COLORADO
NONPROFIT CORPORATION.
NOTE: ITEM 5 OF THE GENERAL EXCEPTIONS WILL BE DELETED IF LAND TITLE GUARANTEE
COMPANY CONDUCTS THE CLOSING OF THE CONTEMPLATED TRANSACTION(S) AND RECORDS
THE DOCUMENTS IN CONNECTION THEREWITH.
NOTE: UPON PROOF OF PAYMENT OF 2015 TAXES, ITEM 6 WILL BE AMENDED TO READ: . . .
TAXES AND ASSESSMENTS FOR THE YEAR 2016 AND SUBSEQUENT YEARS.
NOTE: ITEM 7 OF THE GENERAL EXCEPTIONS IS HEREBY DELETED.
NOTE: FORM 100 WILL BE ATTACHED TO MORTGAGEE'S POLICY WHEN ISSUED.
Order Number: ABC50044B29-4
First AmericanTitle Insurance Company
Schedule B Section 2
(Exceptions)
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 ReFords.
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. ·Any and all unpaid taxes, assessments and-unredeemed tax sales.
7. (a) Unpatente~ mining claims; (b) res~rvatioris or exceptions in patents or in Acts authorizing the
issuance thereof; (c) water rights, claims or title to water.
8. EXISTING LEASES AND TENANCIES, IF ANY.
9. RIGHT OF PROPRIETOR OF A VEIN OR LODE TO EXTRACT AND REMOVE HIS ORE THEREFROM
SHOULD THE SAME BE FOUND TO PENETRATE OR INTERSECT THE PREMISES AS RESERVED IN
UNITED STATES PATENT RECORDED SEPTEMBER 04, 1923, IN BOOK 93 AT PAGE 98.
10. 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.
11. 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 MAY 18, 1970, IN BOOK 217 AT
PAGE 675, AND AMENDMENT THERETO RECORDED JULY 30, 1970 IN BOOK 218 AT PAGE 334, AND
AMENDMENT THERETO RECORDED OCTOBER 15, 1970 IN BOOK 218 AT PAGE 899.
12. EASEMENTS, BUILDING SET-BACKS, CONDITIONS, COVENANTS, RESTRICTIONS, RESERVATIONS
AND NOTES ON THE PLAT OF VAIULIONSHEAD, FIRST FILING RECORDED MAY 10, 1970 UNDER
RECEPTION NO. 113260,
13. THOSE PROVISIONS, COVENANTS AND CONDITIONS, EASEMENTS AND RESTRICTIONS, 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
First American Title Insurance Company.
Schedule B Section 2
(Exceptions)
Order Number: ABC50044829-4
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:
FEDERAL LAWS, EXCEPT TO THE EXTENT THAT SAID COVENANT OR RESTRICTION IS PERMITTED
BY APPLICABLE LAW AS CONTAINED IN INSTRUMENT RECORDED NOVEMBER 8, 19711N BOOK 222
AT PAGE 190, AND THE FIRST SUPPLEMENT TO SAID DECLARATION RECORDED SEPTEMBER 7,
1972 IN BOOK 225 AT PAGE 339, AND RESOLUTION OF THE TREETOPS CONDOMINIUM
ASSOCIATION RECORDED JUNE 25, 1984 IN BOOK 387 AT PAGE 925, AND AMENDMENT
RECORDED NOVEMBER 30, 1984 IN BOOK 401 AT PAGE 194, AND RESOLUTION RECORDED JULY
17, 19911N BOOK 557 AT PAGE 980 .
. NOTE: SECRETARY'S CERTIFICATE RECORDED JUNE 25, 19841N BOOK 387 AT PAGE 926.
NOTE: AFFIDAVIT OF THE PRESIDENT OF THE TREETOPS CONDOMINIUM ASSOCIATION
RECORDED JUNE 25, 1984 IN BOOK 387 AT PAGE 927.
14. UNDERGROUND RIGHT OF WAY EASEMENT AS GRANTED TO HOLY CROSS ELECTRIC
ASSOCIATION, INC., INC. IN INSTRUMENT RECORDED AUGUST 8, 1984 IN BOOK 391 AT PAGE 838.
(AFFECTS COMMON AREA)
15. TERMS, CONDITIONS AND PROV)SIONS OF AGREEMENT RECORDED DECEMBER 17, 19841N
BOOK 402AT PAGE 212.
16. THOSE PROVISIONS, COVENANTS AND CONDITIONS, EASEMENTS AND RESTRICTIONS, WHICH
ARE A BURDEN TO THE CONDOMINIUM UNIT DESCRIBED IN SCHEDULE A, 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 APRIL 23, 1993, IN BOOK 607 AT PAGE 204AND
AMENDMENT THERETO RECORDED JANUARY 21, 2005 UNDER RECEPTION NO. 904108.
17. TERMS, CONDITIONS, PROVISIONS, BURDENS, OBLIGATIONS AND EASEMENTS AS SET FORTH
AND GRANTED IN GRANT OF EASEMENT RECORDED AUGUST 11, 2010 UNDER RECEPTION NO.
201015734.
First American Title""
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 umize the personal information you provide to us. Therefore, together with our subsidiaries we
have adopted this Privacy Policy to g~vern the use and handling of your personal information.
Applicability
This Privacy Policy governs our use of the information which 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 purpases and not for the benefit of any non affiliated PartY· Therefore, we will not release your information to non affiliated parties
except (1) as necessary for us to provide the product or service you have requested to 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, arid 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 wham 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.
Confidentiality and Security
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 indMduals and
entities ~ho 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
referral 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 o the World Wide Web without telling us how 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 side, pages viewed and similar information. First American uses this information to
measure the use of our side and to develop ideas to improve the content of our site. There are times, however, wlien 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 person information. Usually, the personal information we collect is used only by us to
respond to your inquiry, process and order or allow you to access specific accounUprofile information. If you choose to share any personal information with us, we sill only use it in accordance with the
policies outlined above.
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.
Cookies
Some of First American's Web sites may make use of "cookien technology to measure site activity and to customize information to your personal tastes. A cookie is an element of data that a Web site can
send to your browser, which may then store the cookie on your hard drive. FirstAm.com uses stared 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 productive Web site experience.
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 tha:t 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 he 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 indentifying the source of the erroneous data so that the consumer can
secure the required corrections.
Education We endeavor to educate the uses 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 an the responsible collection and use of data. We will encourage others in our industry to c~llect 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.
Landlitle {>':'""'"' N1 tc: cnv.r~ .,.,.
-!.':!tltct l96;:'---
JOINT NOTICE OF PRIVACY POLICY OF
LAND TITLE GUARANTEE COMPANY,
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.
11> 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.
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 3-5-1 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."
Pursuant to C.R.S. 10-11-122, the company will not issue its policy or 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, notipe 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 3-5-1, 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 9wner'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 yvhich 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 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 jnformation 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
policyholoer 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
First American Tit/en'
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 Pro-posed 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 Commitme_nt 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.
This Commitment shalf not be valid or binding until countersigned by a validating officer or authorized signatory.
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.
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 acquires actual knowledge of any defect, lien, encumbrance, adverse claim or the 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 Joss 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 in~luded under the definition of the 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 Iitie. 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 $Z,OOO,OOO or Jess 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
Issued by:
Land Tltle Guarantee Company
3033 East First Avenue
Suite 600
Denver, Colorado 80206
303-321-1880
U_FCarZ7~ /-~:~i:ent
Authorized Officer or Agent
, First American Tltle Insurance Company
Dennis J. Gilmore
~~~
JeffreyS. Robinson
Secretaro,•
AMERICAN
lAND TITLE
ASSOCIATION