HomeMy WebLinkAboutPEC17-0016_VVMC titlle report_1515021955.pdf IF"
Customer Distribution
Land Title' Our Order Number:ABC50045511-3
GUARANTEE COMPANY
Date: 02-08-2017
Property Address: 250 S FRONTAGE RD,VAIL, CO 81657
For Title Assistance
Scott Bennetts
5975 GREENWOOD PLAZA BLVD
GREEN WOODVILLAGE, CO 80111
303-850-4175(phone)
303-393-4842(fax)
sbennetts@ltgc.com
PL EASE CONTACT YOUR CLOSER OR CLOSER'S ASSISTANT FOR WIRE TRANSFER INSTRUCTIONS
BuyerlBorrower Attorney for Buyer
VAIL CLIN IC,IN C.,A COLORADO N ON-PROFITCORPORATION WEAR TRAVERS PERKINS LLC
Delivered via:Delivered byAttorney Attention:JIM WEAR
97 MAIN ST#E202
EDWARDS, CO 81632
970-476-7646(work)
jwear@wtpvail.com
Delivered via:Electronic Mail
Seller/Owner EAGLE VALLEY SURVEYING
HCT DEVELOPMENT LLC Attention:STAN HOGFELDT
Attention:SHARON COHN PO BOX 1230
sharon@solarisvail.com EDWARDS, CO 81632
Delivered via:Electronic Mail 970-949-1406(work)
970-845-9504(work fax)
stanhogfeldt@evsurvey.com
Delivered via:Electronic Mail
LAN DTITLE GUARANTEE COMPANY LAN DTITLE GUARANTEE COMPANY
Attention:SARAH DORMAN Attention:GAIL FERRY
610 WEST LIONSHEAD CIRCLE#300 PO BOX 357
VAIL,CO 81657 VAIL,CO 81658
970-476-2251(work) 970-476-2251(work)
970-476-4534(work fax) 970-476-4534(work fax)
sdorman@ltgc.com gferry@ltgc.com
Delivered via:Linked Commitment Delivery Delivered via:Electronic Mail
Attorney for Seller
SOLARIS REAL ESTATE LLC
Attention:RYAN SMITH
141 E MEADOW DR#211
VAIL,CO 81657
303-888-0969 (phone)
970-476-1271(work)
970-479-6666(work fax)
ryan@solarisvail.com
Delivered via:Electronic Mail
Land Itl '
GUARANTEE COMPANY
LandTitle Guarantee Company
Estimate of Title Fees
Order N umber: ABC50045511-3 Date: 02-08-2017
Property Address: 250 S FRONTAGE RD,VAIL, CO 81657
Buyer/Borrower: VAIL OLIN IC,IN C.,A COLORADO NON-PROFIT CORPORATION
Seller: HCT MEMBER, 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
ALTA Owners Policy 06-17-06 To Be Determined
Tax Certificate $26.00
If Land Title Guarantee Company will be closing this transaction, the fees listed above will be collected at closing.
Total To Be Determined
THANK YOU FOR YOUR ORDER!
ALTA COMMITMENT
FirstAmerican Title Insurance Company
Schedule A
Order Number: ABC50045511-3
Customer Ref-Loan No.:
Property Address:
250 S FRONTAGE RD,VAIL, CO 81657
1. Effective Date:
01-17-2017 At 05:00:00
2. Policy to be Issued and Proposed Insured:
"ALTA" Owner's Policy 06-17-06 To Be Determined
Proposed Insured:
VAIL OLIN IC,INC.,A COLORADO NON-PROFIT
CORPORATION
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:
HCT MEMBER, LLC,A COLORADO LIMITED LIABILITY COMPANY
5. The Landreferred to in this Commitment is described as follows:
PARCEL A:
LOT 2W,VAIL/LIONSHEAD SECOND FILIN G,A RESUBDIVISION OF LOT 2, BLOCK 1,ACCORDING TO THE
PLAT RECORDED JANUARY 23, 2014 UN DER RECEPTION NO.201401066, COUNTYOF EAGLE, STATE
OF COLORADO,
EXCEPT
CON DOMIN IUM UN ITS 5-A, 5-B, 5-C, 5-D, 5-E, 6-A, 6-B, 6-C, 6-D, 6-E,6-F,
6-G, 6-H, 6-I, 6-J, 7-A, 7-B, 7-C, 7-D TOGETHER WITHALL PORTIONSOF
COMMON ELEMENTS OWN ED BY THE OWN ERS OF VAIL IN N CON DOMIN IUMS(FORMERLY
TALBLICK CON DOMIN IUMS)ACCORDING TO THE MAP RECORDED MAY 29, 1974 IN
BOOK 234AT PAGE 872 AND THE FIRSTAMENDMENT RECORDED NOVEMBER 15, 1977
IN BOOK 262 AT PAGE 327,AND THE SECONDAMENDMENT RECORDED FEBRUARY 18,
1988 IN BOOK 479AT PAGE 155,AND IN ACCORDANCE WITH THE CONDOMINIUM
DECLARATION OF VAIL INN CON DOMIN IUMSRECORDED MAY 29, 1974 IN BOOK 234
AT PAGE 871,AND FIRSTAMENDMENT TO SAID DECLARATION RECORDED AUGUST 6,
1974 IN BOOK 235AT PAGE 941 AND SECONDAMENDMENT TO SAID DECLARATION
RECORDED NOVEMBER 15, 1977 IN BOOK 262AT PAGE 327,AND THIRDAMENDMENT
THERETO RECORDED FEBRUARY 18, 1988 IN BOOK 479 AT PAGE 154.
Copyright 2006-2017 American Land Title Association. All Rights Reserved
ALTA COMMITMENT
FirstAmerican Title Insurance Company
Schedule A
Order Number: ABC50045511-3
Customer Ref-Loan No.:
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
First American Title Insurance Company
Schedule B Section 1
(Requirements)
Order Number: ABC50045511-3
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 instrument(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. (ITEM INTENTIONALLY DELETED)
2. (ITEM INTENTIONALLY DELETED)
3. EVIDENCESATISFACTORY TO THE COMPANY THAT THE TERMS, CON DITION SAND PROVISION SOF
THE TOWN OF VAIL TRANSFER TAX HAVE BEEN SATISFIED.
4. WARRANTY DEED FROM HCT MEMBER, LLC,A COLORADO LIMITED LIABILITY COMPANY TO VAIL
CLIN IC, INC.,A COLORADO NON-PROFIT CORPORATION CON VEYIN GSUBJECT PROPERTY.
NOTE:OPERATING AGREEMENT FOR HCT MEMBER, LLC,A COLORADO LIMITED LIABILITY COMPANY
DISCLOSES PETER B. KNOEBELAS MANAGER.
5. PARTIAL RELEASE OF DEED OF TRUST DATED DECEMBER 27, 2016, FROM HCT MEMBER, LLC,A
COLORADO LIMITED LIABILITY COMPANY TO THE PUBLIC TRUSTEE OF EAGLE COUNTY FOR THE
USE OF WELLS FARGO BAN K,NATIONAL ASSOCIATION TO SECURE THE SUM OF$11,000,000.00
RECORDED DECEMBER 30, 2016, UNDERRECEPTION NO.201622488.
6. PARTIAL RELEASE OF DEED OF TRUST DATED DECEMBER 27, 2016, FROM HCT MEMBER, LLC,A
COLORADO LIMITED LIABILITY COMPANY TO THE PUBLIC TRUSTEE OF EAGLE COUNTY FOR THE
USE OF WELLS FARGO BAN K,NATIONAL ASSOCIATION TO SECURE THE SUM OF$4,000,000.00
RECORDED DECEMBER 30, 2016, UN DERRECEPTION NO.201622489.
7. TERMINATION OF FIN ANCINGSTATEMENT BY WELLS FARGO BANK, NATIONAL ASSOCIATION, THE
SECURED PARTY, RECORDED JANUARY 09, 2017, UNDERRECEPTION N0.201700332.
First American Title Insurance Company
Schedule B Section 2
(Exceptions)
Order Number: ABC50045511-3
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. Any and all unpaid taxes, assessments and unredeemed tax sales.
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. EXISTING LEASES AND TENANCIES, IF ANY.
9. RIGHT OF PROPRIETOR OFA 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 MAY 24, 1904, IN BOOK 48AT PAGE 503 AND IN UNITED
STATES PATENT RECORDED SEPTEMBER 04, 1923, IN BOOK 93 AT PAGE 98.
10. RESTRICTIVE COVENANTS WHICH DO NOTCONTAIN A FORFEITURE OR REVERTER CLAUSE, BUT
OMITTINGANY 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,AND EASEMENTS, AS CONTAINED IN PROTECTIVE COVENANTS OF
VAIL/LIONSHEAD, SECONDFILINGRECORDED OCTOBER 15, 1971, IN BOOK 221 AT PAGE 989.
11. EASEMENTS,CON DITION S,COVENANTS, RESTRICTION S,RESERVATIONS AND N OTES ON THE
PLAT OF VAIL/LIONSHEAD SECON D FILIN GRECORDED OCTOBER 15, 1971 IN BOOK 221 AT PAGE
990.
12. (ITEM INTENTIONALLY DELETED)
13. (ITEM INTENTIONALLY DELETED)
14. TERMS, CONDITIONS,PROVISIONS,BURDEN S,OBLIGATIONS AND EASEMENTS AS SET FORTH
AND GRANTED IN AGREEMENT RECORDED JUNE 30, 1989 IN BOOK 509AT PAGE 326,AND AS
AMENDED IN AMENDMENT TOAGREEMENT RECORDED JANUARY 23, 2014 UN DER RECEPTION
NO.201401132
First American Title Insurance Company
Schedule B Section 2
(Exceptions)
Order Number: ABC50045511-3
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:
15. EASEMENTS,CON DITION S,COVENANTS, RESTRICTION S,RESERVATIONS AND NOTES ON THE
PLAT OF VAIL/LIONSHEAD SECOND FILIN G,A RESUBDIVISION OF LOT 2, BLOCK 1 RECORDED
JANUARY 23, 2014 UN DER RECEPTION NO.201401066.
1." LANDTITLE GUARANTEE COMPANY
LANDTITLE 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) N o 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.
N o 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.
T'' FirstAmerican Title""
I-
Privacy Information
We are Committed to Safeguarding Customer Information
In order to better serve your needs now and in the future,we may ask you to provide us with certain information. We understand that you may be concerned about what we will do with such information
-particularly any personal or financial information. We agree that you have a right to know how we will utilize the personal information you provide to us.Therefore,together with our subsidiaries we
have adopted this Privacy Policy to govern the use and handling of your personal information.
Applicability
This Privacy Policy governs our use of the information 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 purposes 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,and escrow companies.Furthermore,we
may also provide all the information we collect,as described above,to companies that perform marketing services on our behalf,on behalf of our affiliated companies,or to other financial institutions
with whom we or our affiliated companies have joint marketing agreements.
Former Customers
Even if you are no longer our customer,our Privacy Policy will continue to apply to you.
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 individuals and
entities who need to know that information to provide products or services to you.We will use our best efforts to train and oversee our employees and agents to ensure that your information will be
handled responsibly and in accordance with this Privacy Policy and First American's Fair Information values. We currently maintain physical,electronic,and procedural safeguards that comply with
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,when we may need information from you,such as your name and email address.When
information is needed,we will use our best efforts to let you know at the time of collection how we will use the 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 account/profile 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 wetry 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"cookie"technology to measure site activity and to customize information to your personal tastes.A cookie is an element of data that a Web site can
send to your browser,which may then store the cookie on your hard drive.FirstAm.com uses stored cookies.The goal of this technology is to better serve you when visiting our site,save you time when
you are here and to provide you with a more meaningful and 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 afavorable balance between consumer benefits and consumer
privacy.
Public Record We believe that an open public record creates significant value for society,enhances consumer choice and creates consumer opportunity.We actively support an open public record and
emphasize its importance and contribution to our economy.
Use We believe we should behave responsibly when we use information about a consumer in our business.We will obey the laws governing 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 on the responsible collection and use of data.We will encourage others in our industry to collect and use information in a responsible manner.
Security We will maintain appropriate facilities and systems to protect against unauthorized access to and corruption of the data we maintain.
}} JOINT NOTICE OF PRIVACY POLICY OF
L ANDTITLE GUARANTEE COMPANY,
Land �1LC LANDTITLE GUARANTEE COMPANY-GRAND JUNCTION,
LANDTITLE GUARANTEE COMPANY OF SUMMIT COUNTY
LANDTITLE 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.
.', C, Commitment for Title Insurance
FirstArnerican Title"" ISSUED BY
First American Title Insurance Company
FIRST AMERICAN TITLE IN SURAN CECOMPANY,a Nebraska corporation("Company"),for avaluable consideration,commits to issue its policy or policies of title
insurance,as identified in Schedule A,in favor of the Proposed Insured named in Schedule A,as owner or mortgagee of the estate or interest in the land described or
referred to in Schedule A,upon payment of the premiums and charges and compliance with the Requirements;all subject to the provisions of SchedulesA and B and to
the Conditions of this Commitment.
This Commitment shall be effective only when the identity of the Proposed Insured and the amount of the policy or policies committed for have been inserted in Schedule
A by the Company.
All liability and obligation under this Commitment shall cease and terminate six(6)months after the Effective Date or when the policy or policies committed for shall issue,
whichever first occurs,provided that the failure to issue the policy or policies is not the fault of the Company.
The Company will provide a sample of the policy form upon request.
This Commitment shall not be valid or binding until countersigned by a validating officer or authorized signatory.
IN WITN ESSWHEREOF,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 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 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 ScheduleA 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
Issued by: First American Title Insurance Company
Land Title Guarantee Company
3033 East First Avenue
Suite 600
Denver,Colorado 80206
303-321-1880 247A
Dennis J Gilmore AMERICAN
LAND TITLE
John E.Freyer 7 ASSOCIATION
President
Authorized Officer or Agent Jeffrey S. Robinson TM
Secretary