HomeMy WebLinkAboutDRB18-0083_Title_documents_1521748601.pdf LAND TITLE GUARANTEE COMPANY
Land Ttie
—.Sfttre r5.67—
Date:January 16, 2018
Subject:Attached Title Policy TAIT GARRETT WILLIAM JOHNSON AND SARAH POHLMANN JOHNSON for 3245
KATSOS RANCH ROAD, VAIL, CO 81657
Enclosed please find the Owner's Title Insurance Policy for your purchase of the property listed above.
This title policy is the final step in your real estate transaction, and we want to take a moment to remind you of its
importance. Please review all information in this document carefully and be sure to safeguard this policy along with
your other legal documents.
Your owner's policy insures you as long as you own the property and requires no additional premium payments.
Please feel free to contact any member of our staff if you have questions or concerns regarding your policy, or you
may contact the Final Policy Department at(303)850-4158 or finals@ltgc.com
As a Colorado-owned and operated title company for over 50 years, with offices throughout the state, we take pride in
serving our customers one transaction at a time. We sincerely appreciate your business and welcome the opportunity
to assist you with any future real estate needs. Not only will Land Title be able to provide you with the title services
quickly and professionally, but you may also be entitled to a discount on title premiums if you sell or refinance the
property described in the enclosed policy.
Thank you for giving us the opportunity to work with you on this transaction. We look forward to serving you again in
the future.
Sincerely,
Land Title Guarantee Company
„ * * * OWNER'S POLICY OF TITLE INSURANCE
* ANY NOTICE OF CLAIM AND ANY OTHER NOTICE OR STATEMENT IN WRITING REQUIRED TO BE GIVEN TO THE COMPANY UNDER
THIS POLICY MUST BE GIVEN TO THE COMPANY AT THE ADDRESS SHOWN IN SECTION 18 OF THE CONDITIONS.
COVERED RISKS
* * * SUBJECT TO THE EXCLUSIONS FROM COVERAGE,THE EXCEPTIONS FROM COVERAGE CONTAINED IN SCHEDULE B AND THE
CONDITIONS,OLD REPUBLIC NATIONAL TITLE INSURANCE COMPANY,a Minnesota corporation,(the"Company"),insures,as of Date of
Policy and,to the extent stated in Covered Risks 9 and 10,after Date of Policy,against loss or damage,not exceeding the Amount of Insurance,sustained or incurred by
the Insured by reason of:
1. Title being vested other than as stated in Schedule A.
2. Any defect in or lien or encumbrance on the title;This covered Risk includes but is not limited to insurance against loss from
a. A defect in the Title caused by
(i) forgery,fraud,undue influence,duress,incompetency,incapacity,or impersonation;
(ii) failure of any person or Entity to have authorized a transfer or conveyance;
(iii) a document affecting Title not properly created,executed,witnessed,sealed,acknowledged,notarized,or delivered;
(iv) failure to perform those acts necessary to create a document by electronic means authorized by law;
(v) a document executed under a falsified,expired,or otherwise invalid power of attorney;
(vi) a document not properly filed,recorded,or indexed in the Public Records including failure to perform those acts by electronic means authorized
by law;or
(vii)a defective judicial or administrative proceeding.
b. The lien of real estate taxes or assessments imposed on the Title by a governmental authority due or payable,but unpaid.
c. 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.The term"encroachment"includes encroachments of existing improvements located on the Land onto adjoining land,and
encroachments onto the Land of existing improvements located on adjoining land.
3. Unmarketable Title.
4. No right of access to and from the Land.
5. The violation or enforcement of any law,ordinance,permit,or governmental regulation(including those relating to building and zoning)restricting,regulating,
prohibiting,or relating to
(a)the occupancy,use or enjoyment of the Land;
(b)the character,dimensions,or location of any improvement erected on the Land;
(c)the subdivision of land;or
(d)environmental protection
if a notice,describing any part of the Land,is recorded in the Public Records setting forth the violation or intention to enforce,but only to the extent of the violation
or enforcement referred to in that notice.
6. An enforcement action based on the exercise of a governmental police power not covered by Covered Risk 5 if a notice of the enforcement action,describing any
part of the Land,is recorded in the Public Records,but only to the extent of the enforcement referred to in that notice.
7. The exercise of the rights of eminent domain if a notice of the exercise,describing any part of the Land,is recorded in the Public Records.
8. Any taking by a governmental body that has occurred and is binding on the rights of a purchaser for value without Knowledge.
9. Title being vested other than as stated in Schedule A or being defective
(a)as a result of the avoidance in whole or in part,or from a court order providing an alternative remedy,of a transfer of all or any part of the title to or any
interest in the Land occurring prior to the transaction vesting Title as shown in Schedule A because that prior transfer constituted a fraudulent or
preferential transfer under federal bankruptcy,state insolvency,or similar creditors'rights laws;or
(b)because the instrument of transfer vesting Title as shown in Schedule A constitutes a preferential transfer under federal bankruptcy,state insolvency,or
similar creditors'rights laws by reason of the failure of its recording in the Public Records
(i) to be timely,or
(ii) to impart notice of its existence to a purchaser for value or to a judgment or lien creditor.
10. Any defect in or lien or encumbrance on the Title or other matter included in Covered Risks 1 through 9 that has been created or attached or has been filed or
recorded in the Public Records subsequent to Date of Policy and prior to the recording of the deed or other instrument of transfer in the Public Records that vests
Title as shown in Schedule A.The Company will also pay the costs,attorneys'fees,and expenses incurred in defense of any matter insured against by this
Policy,but only to the extent provided in the Conditions.
Issued by: .....F++t Old Republic National Title Insurance Company,a Stock Company
Land Title Guarantee Company . SPL fA.� 400 Second Avenue South111
3033 East First Avenue Suite 600 * * 4Y Minneapolis,Minnesota 55401 AMERI CAN
Denver,Colorado 80206 - * qz, 114 (612)371-1111 LAND TITLE
(303)321-1880 — (} *z — ASSOCIATION
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President ''F.
'O , ?,1'10. Mark Bilbrey,President
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Rande Yeager,Secretary
Copyright 2006-2018 American Land Title Association-All rights reserved.-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
AMERICAN LAND TITLE ASSOCIATION OWNER'S POLICY Adopted 6-17-06
EXCLUSIONS FROM COVERAGE
The following matters are expressly excluded from the coverage of this policy, and the Company will not pay loss or
damage, costs, attorneys'fees, or expenses that arise by reason of:
(1) (a)Any law, ordinance, permit, or governmental regulation (including those relating to building and zoning)
restricting, regulating, prohibiting or relating to
(i) the occupancy, use, or enjoyment of the Land;
(ii) the character, dimensions, or location of any improvement erected on the Land;
(iii) the subdivision of land; or
(iv) environmental protection;or the effect of any violation of these laws, ordinances, or governmental
regulations. This Exclusion 1(a)does not modify or limit the coverage provided under Covered Risk 5. (b)
Any governmental police power. This Exclusion 1(b)does not modify or limit the coverage provided under
Covered Risk 6.
(2) Rights of eminent domain.This Exclusion does not modify or limit the coverage provided under Covered Risk 7 or
8.
(3) Defects, liens, encumbrances, adverse claims, or other matters
(a) created, suffered, assumed, or agreed to by the Insured Claimant;
(b) not Known to the Company, not recorded in the Public Records at Date of Policy, but Known to the
Insured Claimant and not disclosed in writing to the Company by the Insured Claimant prior to the date
the Insured Claimant became an Insured under this policy;
(c) resulting in no loss or damage to the Insured Claimant;
(d) attaching or created subsequent to Date of Policy (however,this does not modify or limit the coverage
provided under Covered Risk 9 and 10); or
(e) resulting in loss or damage that would not have been sustained if the Insured Claimant had paid value for
the Title.
(4) Any claim, by reason of the operation of federal bankruptcy, state insolvency, or similar creditors' rights laws,that
the transaction vesting the Title as shown in Schedule A, is
(a) a fraudulent conveyance or fraudulent transfer; or
(b) a preferential transfer for any reason not stated in Covered Risk 9 of this policy.
(5) Any lien on the Title for real estate taxes or assessments imposed by governmental authority and created or
attaching between Date of Policy and the date of recording of the deed or other instrument of transfer in the Public
Records that vests Title as shown in Schedule A.
CONDITIONS
1.DEFINITION OF TERMS
The following terms when used in this policy mean:
(a) "Amount of Insurance":The amount stated in Schedule A, as may be increased or decreased by endorsement to
this policy, increased by Section 8(b)or decreased by Sections 10 and 11 of these Conditions.
(b) "Date of Policy":The date designated as"Date of Policy"in Schedule A.
(c) "Entity":A corporation, partnership,trust, limited liability company, or other similar legal entity.
(d) "Insured":The Insured named in Schedule A.
(i) The term "Insured"also includes
(A) successors to the Title of the Insured by operation of law as distinguished from purchase,
including heirs, devisees, survivors, personal representatives, or next of kin;
(B) successors to an Insured by dissolution, merger, consolidation, distribution, or reorganization;
(C) successors to an Insured by its conversion to another kind of Entity;
(D) a grantee of an Insured under a deed delivered without payment of actual valuable consideration
conveying the Title
(1) if the stock, shares, memberships, or other equity interests of the grantee are wholly-owned by
the named Insured.
(2) if the grantee wholly owns the named Insured,
(3) if the grantee is wholly-owned by an affiliated Entity of the named Insured, provided the affiliated
Entity and the named Insured are both wholly-owned by the same person or Entity, or
(4) if the grantee is a trustee or beneficiary of a trust created by a written instrument established by
the Insured named in Schedule A for estate planning purposes
(ii) With regard to (A), (B), (C), and (D) reserving, however, all rights and defensed as to any successor that
the Company would have had against any predecessor Insured.
(e) "Insured Claimant": An Insured claiming loss or damage.
(f) "Knowledge"or"Known":Actual knowledge, not constructive knowledge or notice that may be imputed to an
Insured by reason of the Public Records or any other records that impart constructive notice of matters affecting
the Title.
(g) "Land":The land described in Schedule A, and affixed improvements that by law constitute real property. The term
"Land"does not include any property beyond the lines of the area described in Schedule A, nor any right,title,
interest, estate, or easement in abutting streets, roads, avenue, alleys, lanes,ways, or waterways, but this does
not modify or limit the extent that a right of access to and from the Land is insured by this policy.
(h) "Mortgage": Mortgage, deed of trust, trust deed, or other security instrument, including one evidenced by
electronic means authorized by law.
(i) "Public Records": Records established under state statutes at Date of Policy for the purpose of imparting
constructive notice of matters relating to real property to purchasers for value and without Knowledge. With
respect to Covered Risk 5(d), "Public Records"shall also include environmental protection liens filed in the records
of the clerk of the United States District Court for the district where the Land is located.
(j) "Title":The estate or interest described in Schedule A. "Unmarketable Title":Title affected by an alleged or
apparent matter that would permit a prospective purchaser or lessee of the Title or lender on the Title to be
released from the obligation to purchase, lease, or lend if there is a contractual condition requiring the delivery of
marketable title.
2.CONTINUATION OF INSURANCE
The coverage of this policy shall continue in force as of Date of Policy in favor of an Insured, but only so long as the
Insured retains an estate or interest in the Land, or holds an obligation secured by a purchase money Mortgage given by
a purchaser from the Insured, or only so long as the Insured shall have liability by reason of warranties in any transfer or
conveyance of the Title. This policy shall not continue in force in favor of any purchaser from the Insured of either(i)an
estate or interest in the Land, or(ii)an obligation secured by a purchase money Mortgage given to the Insured.
3.NOTICE OF CLAIM TO BE GIVEN BY INSURED CLAIMANT
The Insured shall notify the Company promptly in writing (i) in case of any litigation as set forth in Section 5(a) of these
Conditions, (ii) in case Knowledge shall come to an Insured hereunder of any claim of title or interest that is adverse to
the Title, as insured, and that might cause loss or damage for which the Company may be liable by virtue of this policy,
or(iii) if the Title, as insured, is rejected as Unmarketable Title. If the Company is prejudiced by the failure of the Insured
Claimant to provide prompt notice, the Company's liability to the Insured Claimant under the policy shall be reduced to
the extent of the prejudice.
4.PROOF OF LOSS
In the event the Company is unable to determine the amount of loss or damage, the Company may, at its option, require
as a condition of payment that the Insured Claimant furnish a signed proof of loss. The proof of loss must describe the
defect, lien, encumbrance, or other matter insured against by this policy that constitutes the basis of loss or damage and
shall state,to the extent possible,the basis of calculating the amount of the loss or damage.
5.DEFENSE AND PROSECUTION OF ACTIONS
(a) Upon written request by the Insured, and subject to the options contained in Section 7 of these Conditions, the
Company, at its own cost and without unreasonable delay, shall provide for the defense of an Insured in litigation in
which any third party asserts a claim covered by this policy adverse to the Insured.This obligation is limited to only those
stated causes of action alleging matters insured against by this policy.The Company shall have the right to select
counsel of its choice (subject to the right of the Insured to object for reasonable cause)to represent the Insured as to
those stated causes of action. It shall not be liable for and will not pay the fees of any other counsel. The Company will
not pay any fees, costs, or expenses incurred by the Insured in the defense of those causes of action that allege matters
not insured against by this policy.
(b)The Company shall have the right, in addition to the options contained in Section 7 of these Conditions, at its own
cost, to institute and prosecute any action or proceeding or to do any other act that in its opinion may be necessary or
desirable to establish the Title, as insured, or to prevent or reduce loss or damage to the Insured. The Company may
take any appropriate action under the terms of this policy,whether or not it shall be liable to the Insured. The exercise of
these rights shall not be an admission of liability or waiver of any provision of this policy. If the Company exercises its
rights under this subsection, it must do so diligently.
(c)Whenever the Company brings an action or asserts a defense as required or permitted by this policy, the Company
may pursue the litigation to a final determination by a court of competent jurisdiction, and it expressly reserves the right,
in its sole discretion, to appeal any adverse judgment or order.
6.DUTY OF INSURED CLAIMANT TO COOPERATE
(a) In all cases where this policy permits or requires the Company to prosecute or provide for the defense of any action
or proceeding and any appeals,the Insured shall secure to the Company the right to so prosecute or provide defense in
the action or proceeding, including the right to use, at its option, the name of the Insured for this purpose.Whenever
requested by the Company,the Insured, at the Company's expense, shall give the Company all reasonable aid (i) in
securing evidence, obtaining witnesses, prosecuting or defending the action or proceeding, or effecting settlement, and
(ii) in any other lawful act that in the opinion of the Company may be necessary or desirable to establish the Title or any
other matter as insured. If the Company is prejudiced by the failure of the Insured to furnish the required cooperation,
the Company's obligation to the Insured under the policy shall terminate, including any liability or obligation to defend,
prosecute, or continue any litigation,with regard to the matter or matters requiring such cooperation.
(b)The Company may reasonably require the Insured Claimant to submit to examination under oath by any authorized
representative of the Company and to produce for examination, inspection, and copying, at such reasonable times and
places as may be designated by the authorized representative of the Company, all records, in whatever medium
maintained, including books, ledgers,checks, memoranda, correspondence, reports, e-mails, disks,tapes, and videos
whether bearing a date before or after Date of Policy,that reasonably pertain to the loss or damage. Further, if
requested by any authorized representative of the Company,the Insured Claimant shall grant its permission, in writing,
for any authorized representative of the Company to examine, inspect, and copy all of these records in the custody or
control of a third party that reasonably pertain to the loss or damage. All information designated as confidential by the
Insured Claimant provided to the Company pursuant to this Section shall not be disclosed to others unless, in the
reasonable judgment of the Company, it is necessary in the administration of the claim. Failure of the Insured Claimant
to submit for examination under oath produce any reasonably requested information, or grant permission to secure
reasonably necessary information from third parties as required in this subsection, unless prohibited by law or
governmental regulation, shall terminate any liability of the Company under this policy as to that claim.
7.OPTIONS TO PAY OR OTHERWISE SETTLE CLAIMS;TERMINATION OF LIABILITY
In case of a claim under this policy, the Company shall have the following additional options:
(a)To Pay or Tender Payment of the Amount of Insurance.To pay or tender payment of the Amount of Insurance under
this policy together with any costs, attorneys'fees, and expenses incurred by the Insured Claimant that were authorized
by the Company up to the time of payment or tender of payment and that the Company is obligated to pay. Upon the
exercise by the Company of this option, all liability and obligations of the Company to the Insured under this policy, other
than to make the payment required in the subsection, shall terminate, including any liability or obligation to defend,
prosecute, or continue any litigation.
(b)To Pay or Otherwise Settle With Parties Other Than the Insured or With the Insured Claimant.
(i) To pay or otherwise settle with other parties for or in the name of an Insured Claimant any claim insured against
under this policy. In addition,the Company will pay any costs, attorneys'fees, and expenses incurred by the
Insured Claimant that were authorized by the Company up to the time of payment and that the Company is
obligated to pay;or
(ii) To pay or otherwise settle with the Insured Claimant the loss or damage provided for under this policy,together
with any costs, attorneys'fees, and expensed incurred by the Insured Claimant that were authorized by the
Company up to the time of payment and that the Company is obligated to pay. Upon the exercise by the Company
of either of the options provided for in subsections (b)(i)or(ii),the Company's obligations to the Insured under this
policy for the claimed loss or damage, other than the payments required to be made, shall terminate, including any
liability or obligation to defend, prosecute, or continue any litigation.
8.DETERMINATION AND EXTENT OF LIABILITY
This policy is a contract of indemnity against actual monetary loss or damage sustained or incurred by the Insured
Claimant who has suffered loss or damage by reason of matters insured against by this policy.
(a)The extent of liability of the Company for loss or damage under this policy shall not exceed the lesser of
(i) the Amount of Insurance; or
(ii) the difference between the value of the Title as insured and the value of the Title subject to the risk insured
against by this policy.
(b) If the Company pursues its rights under Section 5 of these Conditions and is unsuccessful in establishing the Title,
as insured,
(i) the Amount of Insurance shall be increased by 10%, and
(ii) the Insured Claimant shall have the right to have the loss or damage determined either as of the date the claim
was made by the Insured Claimant or as of the date it is settled and paid.
(c) In addition to the extent of liability under(a) and (b),the Company will also pay those costs, attorneys'fees, and
expenses incurred in accordance with Sections 5 and 7 of these Conditions.
9.LIMITATION OF LIABILITY
(a) If the Company establishes the Title, or removes the alleged defect, lien, or encumbrance, or cures the lack of a right
of access to or from the Land, or cures the claim of Unmarketable Title, all as insured, in a reasonably diligent manner
by any method, including litigation and the completion of any appeals, it shall have fully performed its obligations with
respect to that matter and shall not be liable for any loss or damage caused to the Insured.
(b) In the event of any litigation, including litigation by the Company or with the Company's consent,the Company shall
have no liability for loss or damage until there has been a final determination by a court of competent jurisdiction, and
disposition of all appeals, adverse to the Title, as insured.
(c)The Company shall not be liable for loss or damage to the Insured for liability voluntarily assumed by the Insured in
settling any claim or suit without the prior written consent of the Company.
10.REDUCTION OF INSURANCE;REDUCTION OR TERMINATION OF LIABILITY
All payments under this policy, except payments made for costs, attorneys'fees, and expenses, shall reduce the
Amount of Insurance by the amount of the payment.
11.LIABILITY NONCUMULATIVE
The Amount of Insurance shall be reduced by any amount the Company pays under any policy insuring a Mortgage to
which exception is taken in Schedule B or to which the Insured has agreed, assumed, or taken subject, or which is
executed by an Insured after Date of Policy and which is a charge or lien on the Title, and the amount so paid shall be
deemed a payment to the Insured under this policy.
12.PAYMENT OF LOSS
When liability and the extent of loss or damage have been definitely fixed in accordance with these Conditions, the
payment shall be made within 30 days.
13.RIGHTS OF RECOVERY UPON PAYMENT OR SETTLEMENT
(a)Whenever the Company shall have settled and paid a claim under this policy, it shall be subrogated and entitled to
the rights of the Insured Claimant in the Title and all other rights and remedies in respect to the claim that the Insured
Claimant has against any person or property, to the extent of the amount of any loss, costs, attorneys'fees, and
expenses paid by the Company. If requested by the Company, the Insured Claimant shall execute documents to
evidence the transfer to the Company of these rights and remedies. The Insured Claimant shall permit the Company to
sue, compromise, or settle in the name of the Insured Claimant and to use the name of the Insured Claimant in any
transaction or litigation involving these rights and remedies. If a payment on account of a claim does not fully cover the
loss of the Insured Claimant, the Company shall defer the exercise of its right to recover until after the Insured Claimant
shall have recovered its loss.
(b)The Company's right of subrogation includes the rights of the Insured to indemnities, guaranties, other policies of
insurance, or bonds, notwithstanding any terms or conditions contained in those instruments that address subrogation
rights.
14.ARBITRATION
Either the Company or the Insured may demand that the claim or controversy shall be submitted to arbitration pursuant
to the Title Insurance Arbitration Rules of the American Land Title Association ("Rules"). Except as provided in the
Rules, there shall be no joinder or consolidation with claims or controversies of other persons,Arbitrable matters may
include, but are not limited to, any controversy or claim between the Company and the Insured arising out of or relating
to this policy, any service in connection with its issuance or the breach of a policy provision, or to any other controversy
or claim arising out of the transaction giving rise to this policy. 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. All arbitrable matters when the
Amount of Insurance is in excess of$2,000,000 shall be arbitrated only when agreed to by both the Company and the
Insured. Arbitration pursuant to this policy and under the Rules shall be binding upon the parties. Judgment upon the
award rendered by the Arbitrator(s) may be entered in any court of competent jurisdiction.
15.LIABILITY LIMITED TO THIS POLICY;POLICY ENTIRE CONTRACT
(a)This policy together with all endorsements, if any, attached to it by the Company is the entire policy and contract
between the Insured and the Company. In interpreting any provision of this policy,this policy shall be construed as a
whole.
(b)Any claim or loss or damage that arises out of the status of the Title or by any action asserting such claim shall be
restricted to this policy.
(c)Any amendment of or endorsement to this policy must be in writing and authenticated by an authorized person, or
expressly incorporated by Schedule A of this policy.
(d) Each endorsement to this policy issued at any time is made a part of this policy and is subject to all of its terms and
provisions. Except as the endorsement expressly states, it does not(i) modify any of the terms and provisions of the
policy, (ii) modify any prior endorsement, (iii) extend the Date of Policy, or(iv) increase the Amount of Insurance.
16.SEVERABILITY
In the event any provision of this policy, in whole or in part, is held invalid or unenforceable under applicable law, the
policy shall be deemed not to include that provision or such part held to be invalid, but all other provisions shall remain in
full force and effect.
17.CHOICE OF LAW;FORUM
(a) Choice of Law;The Insured acknowledges the Company has underwritten the risks covered by this policy and
determined the premium charged therefor in reliance upon the law affecting interests in real property and applicable to
the interpretation, rights, remedies, or enforcement of policies of title insurance of the jurisdiction where the Land is
located. Therefore,the court or an arbitrator shall apply the law of the jurisdiction where the Land is located to determine
the validity of claims against the Title that are adverse to the Insured and to interpret and enforce the terms of this policy.
In neither case shall the court or arbitrator apply its conflicts of law principles to determine the applicable law.
(b) Choice of Forum;Any litigation or other proceeding brought by the Insured against the Company must be filed only in
a state or federal court within the United States of America or its territories having appropriate jurisdiction.
18.NOTICES,WHERE SENT
Any notice of claim and any other notice or statement in writing required to be given to the Company under this policy
must be given to the Company at:400 Second Avenue South, Minneapolis, Minnesota 55401 (612)371-1111.
ANTI-FRAUD STATEMENT: 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.
This anti-fraud statement is affixed to and made a part of this policy.
Land Title Guarantee Company Representing
Old Republic National Title Insurance Company
Schedule A
Order Number: V50049149 Policy No.: 0X50049149.271723
Amount of Insurance:$1,425,000.00
Property Address:
3245 KATSOS RANCH ROAD, VAIL, CO 81657
1. Policy Date:
December 13, 2017 at 5:00 P.M.
2. Name of Insured:
TAIT GARRETT WILLIAM JOHNSON AND SARAH POHLMANN JOHNSON
3.The estate or interest in the Land described in this Schedule and which is covered by this policy is:
A Fee Simple
4.Title to the estate or interest covered by this policy at the date is vested in:
TAIT GARRETT WILLIAM JOHNSON AND SARAH POHLMANN JOHNSON
5.The Land referred to in this Policy is described as follows:
A PORTION OF LOT 8, A RESUBDIVISION OF LOT 7, BLOCK 1 VAIL VILLAGE TWELFTH FILING, ACCORDING
TO THE RECORDED PLAT THEREOF, COUNTY OF EAGLE, STATE OF COLORADO, MORE PARTICULARLY
DESCRIBED AS FOLLOWS:
PARCEL A:
THAT PORTION OF SAID LOT 8 DESCRIBED AS FOLLOWS:
BEGINNING AT A POINT WHENCE THE SOUTHWEST CORNER OF SAID LOT 8 BEARS SOUTH 36 DEGREES
59 MINUTES 20 SECONDS WEST 139.55 FEET DISTANT;THENCE NORTH 08 DEGREES 59 MINUTES 48
SECONDS EAST 9.00 FEET;THENCE NORTH 81 DEGREES 00 MINUTES 12 SECONDS WEST 0.30 FEET;
THENCE NORTH 08 DEGREES 59 MINUTES 48 SECONDS EAST 8.90 FEET;THENCE NORTH 81 DEGREES 00
MINUTES 12 SECONDS WEST 0.40 FEET;THENCE NORTH 08 DEGREES 59 MINUTES 48 SECONDS EAST
15.10 FEET;THENCE SOUTH 81 DEGREES 00 MINUTES 12 SECONDS EAST 22.40 FEET;THENCE NORTH 08
DEGREES 59 MINUTES 48 SECONDS EAST 41.70 FEET;THENCE SOUTH 81 DEGREES 00 MINUTES 12
SECONDS EAST 11.60 FEET;THENCE SOUTH 08 DEGREES 59 MINUTES 48 SECONDS WEST 41.70 FEET;
THENCE SOUTH 81 DEGREES 00 MINUTES 12 SECONDS EAST 10.40 FEET;THENCE SOUTH 08 DEGREES
59 MINUTES 48 SECONDS WEST 33.00 FEET;THENCE NORTH 81 DEGREES 00 MINUTES 12 SECONDS
WEST 43.70 FEET TO THE POINT OF BEGINNING.
TOGETHER WITH AN UNDIVIDED ONE-HALF INTEREST IN AND TO PARCEL C ALL OF LOT 8, A
Land Title Guarantee Company Representing
Old Republic National Title Insurance Company
Schedule A
RESUBDIVISION OF LOT 7, BLOCK 1, VAIL VILLAGE TWELFTH FILING A SUBDIVISION RECORDED IN THE
OFFICE OF THE EAGLE COUNTY, COLORADO CLERK AND RECORDER, WITH THE EXCEPTION OF PARCELS
B-1 AND B-2 DESCRIBED BELOW AND PARCEL A DESCRIBED ABOVE:
PARCEL B-1
THAT PORTION OF SAID LOT 8 DESCRIBED AS FOLLOWS:
BEGINNING AT A POINT WHENCE THE SOUTHWEST CORNER OF SAID LOT 8 BEARS SOUTH 36 DEGREES
59 MINUTES 20 SECONDS WEST 139.55 FEET DISTANT;THENCE NORTH 08 DEGREES 59 MINUTES 48
SECONDS EAST 9.00 FEET THENCE NORTH 81 DEGREES 00 MINUTES 12 SECONDS WEST 0.30 FEET;
THENCE NORTH 08 DEGREES 59 MINUTES 48 SECONDS EAST 8.90 FEET;THENCE NORTH 81 DEGREES 00
MINUTES 12 SECONDS WEST 47.70 FEET;THENCE SOUTH 08 DEGREES 59 MINUTES 48 SECONDS WEST
50.00 FEET;THENCE SOUTH 81 DEGREES 00 MINUTES 12 SECONDS EAST 48.00 FEET;THENCE NORTH 08
DEGREES 59 MINUTES 48 SECONDS EAST 32.10 TOWNSHIP TO THE POINT OF BEGINNING, AND
PARCEL B-2
THAT PORTION OF SAID LOT 8 DESCRIBED AS FOLLOWS:
BEGINNING AT A CORNER OF THE ABOVE DESCRIBED PARCEL A WHENCE THE SOUTHWEST CORNER OF
SAID LOT 8 BEARS SOUTH 31 DEGREES 31 MINUTES 27 SECONDS WEST 169.13 FEET DISTANT;THENCE
THE FOLLOWING TWO COURSES ALONG SAID PARCEL A: (1) SOUTH 81 DEGREES 00 MINUTES 12
SECONDS EAST 22.40 FEET; (2) NORTH 08 DEGREES 59 MINUTES 48 SECONDS EAST 41.70 FEET; THENCE
NORTH 81 00 MINUTES 12 SECONDS WEST 22.40 FEET;THENCE SOUTH 08 DEGREES 59 MINUTES 48
SECONDS WEST 41.70 FEET TO THE POINT OF BEGINNING.
NOTE:THE FINAL POLICY DOES NOT IN ANY WAY GUARANTEE OR INSURE THE DIMENSIONS OF THE
ABOVE DESCRIBED LAND, THE LEGAL DESCRIPTION IS DERIVED FROM THE CHAIN OF TITLE AND ONLY
AN ACCURATE SURVEY CAN DETERMINE THE DIMENSIONS.
Copyright 2006-2018 American Land Title Association. All Rights Reserved The use of this Form is -
restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other
AMERICAN
uses are prohibited. Reprinted under license from the American Land Title Association. LAND TITLE
ASSOCIATION
a TM
Land Title Guarantee Company Representing Old Republic National Title Insurance Company
(Schedule B)
Order Number:V50049149 Policy No.:0X50049149.271723
This policy does not insure against loss or damage by reason of the following:
1. Any facts, rights, interests, or claims thereof, not shown by the Public Records but that could be
ascertained by an inspection of the Land 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. (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.
6. 2017 TAXES AND ASSESSMENTS NOT YET DUE OR PAYABLE.
7. RIGHT OF PROPRIETOR OF A VEIN OR LODE TO EXTRACT AND REMOVE HIS ORE THEREFROM
SHOULD THE SAME BE FOUND TO PENETRATE OR INTERSECT THE PREMISES AS RESERVED IN
UNITED STATES PATENT RECORDED MAY 06, 1905, IN BOOK 48 AT PAGE 273.
8. RIGHT OF WAY FOR DITCHES OR CANALS CONSTRUCTED BY THE AUTHORITY OF THE UNITED STATES
AS RESERVED IN UNITED STATES PATENT RECORDED MAY 06, 1905, IN BOOK 48 AT PAGE 273.
9. RESTRICTIVE COVENANTS WHICH DO NOT CONTAIN A FORFEITURE OR REVERTER CLAUSE, BUT
OMITTING ANY COVENANT OR RESTRICTION BASED ON RACE, COLOR, RELIGION, SEX, HANDICAP,
FAMILIAL STATUS OR NATIONAL ORIGIN UNLESS AND ONLY TO THE EXTENT THAT SAID COVENANT(A)
IS EXEMPT UNDER CHAPTER 42, SECTION 3607 OF THE UNITED STATES CODE OR (B) RELATES TO
HANDICAP BUT DOES NOT DISCRIMINATE AGAINST HANDICAP PERSONS, AS CONTAINED IN
INSTRUMENT RECORDED AUGUST 16, 1972, IN BOOK 225 AT PAGE 88 AND AMENDMENT THERETO
RECORDED SEPTEMBER 25, 1972 IN BOOK 225 AT PAGE 475.
10. EASEMENTS, RESERVATIONS AND RESTRICTIONS AS SHOWN OR RESERVED ON THE PLAT FOR A
RESUBDIVISION OF LOT 7, BLOCK 1, VAIL VILLAGE TWELFTH FILING RECORDED FEBRUARY 4, 1975
UNDER RECEPTION NO. 134559.
11. TERMS, CONDITIONS AND PROVISIONS OF PARTY WALL AGREEMENT AND DECLARATION OF
COVENANTS, CONDITIONS AND RESERVATIONS RECORDED JANUARY 10, 1989 UNDER RECEPTION
NO. 394405.
12. DEED OF TRUST DATED DECEMBER 12, 2017, FROM TAIT GARRETT WILLIAM JOHNSON AND SARAH
POHLMANN JOHNSON TO THE PUBLIC TRUSTEE OF EAGLE COUNTY FOR THE USE OF COLORADO
BUSINESS BANK TO SECURE THE SUM OF$1,100,000.00 RECORDED DECEMBER 13, 2017, UNDER
RECEPTION NO. 201723649.
ITEM NOS. 1 THROUGH 4 OF THE STANDARD EXCEPTIONS ARE HEREBY DELETED.
Eagle County,CO 201723648
Regina O'Brien 12/13/2017
Pgs: 2 03:57:10 PM
REC: $18.00 DOC:$142.50
• State Documentdiy etlBf
Land Date:December 1 2,2017
ale•13 OST rorwn , $142.5[1
Warranty Deed . .
(Pursuant to 38-30-113 C.R.S.)
•
THIS DEED, made on December 12th,2017'by HARRY J.JASPER AND DEBORAH J.JASPER Grantor(s), of the County
of Eagle and State of Colorado for the consideration of($1,425,000.00) "`One Million Four Hundred Twenty Flve Thousand .
and 00!100""dollars in hand paid, hereby sells and conveys to TAIT GARRETT WILLIAM JOHNSON AND SARAH POHLMANN
JOHNSON Grantee(s), as Joint Tenants whose street address is PO BOX 2417, EDWARDS, CO 81632, County of Eagle, and.
Stateof Colorado,the following real property In the:County of Eagle,and State of Colorado,to wit
See attached"Exhibit A"
also known by street and number as:3245 KATSOS RANCH ROAD,VAIL,'CO 81657 •
with all ifs appurtenances and warrants the title to the same, subject to geneiral taxes for the year 2017and those specific
Exceptions described by reference to recorded documents as reflected In the Title Documents accepted by Grantee(s)in
accordance with Record Title Matters (Section 8.2)of the Contract to Bury and Sell Real Estate relating to the above described reel
property;distribution utility easements, (including cable TV);those specifically described rights of third parties not shown by the
public records of which Grantees%has actual knowledge and which were accepted by-Grantee(s)in accordance with Off-Record Title
Matters (Section 8.3)and Current Survey Review(Section 9)of the Contract to Buy and Sell Real Estate relating to the above
described real property;Inclusions of the Property within any special tax district;Any special assessment if the improvements were
not Installed as of the date of Buyer's signature on the Contract to Buy and Sell Real Estate, whether assessed prior to or after
CI trig and other NONE
piti " J
I(HARRY J.J 1' -R '
1)c.001/4. f , Jar q' `." SARAH K DORM, 3._ ...----.1
DRAH J. JASPER ,' NOTARY PUBLIC
DEBORAH
. ' STATE OF COLORADO 4
NCITARY ID 2tV0E492:107E1
State of-! r_,2�.4c n ) ?' My Commission Expires June 9,21 •
)ss. -
County at EAGLE ) ,�
- The foregoing instrument was acknowledged before me on this day of Decambe ,2017 by HARRY J. JASPER AND
DEBORAH J. JASPER
Witness my hand and official seal :_____.................r.....„."7„ �,�`
My Commission expires: (e' s /
M Public.- .
When Recorded Return to: TAIT GARRETT WILLIAM JOHNSON AND SARAH POHLMANN JOHNSON
' PO BOX 2417, EDWARDS, CO 81632
Form 13 ciosingldeeds/wd.htrnl - 50049149 (3464.55) III I 1111111 1111
/1111/1111 11 I IRI
Exhibit A'
A PORTION OF LOT 8,A RESUBDIVISION OF LOT 7. BLOCK I VAIL VILLAGE TWELFTH FILING,ACCORDING TO THE RECORDED
PLAT THEREOF, COUNTY OF EAGLE,STATE OF COLORADO MORE PARTICULARLY'DESCRIBED AS FOLLOWS:PARCELA: THAT
PORTION OF SAID LOT 8 DESCRIBED AS FOLLOWS:BEGINNING ATA POINT WHENCE THE SOUTHWEST CORNER OF SAID LOT
8 BEARS SOUTH 36 DEGREES 59 MINUTES 20 SECONDS WEST 139.55 FEET DISTANT;THENCE NORTH 08 DEGREES 59,
' MINUTES 48 SECONDS EAST 9.00 FEET;THENCE NORTH 81 DEGREES 00 MINUTES 12 SECONDS WEST 0.30 FEET;THENCE
NORTH 08 DEGREES 59 MINUTES 48 SECONDS EAST 8.90 FEET;THENCE NORTH 81 DEGREES 00 MINUTES 12 SECONDS WEST
0.40 FEET;THENCE NORTH 08 DEGREES 59 MINUTES 48 SECONDS EAST 15.10 FEET;THENCE SOUTH 81 DEGREES 00 MINUTES
12 SECONDS EAST 22,40 FEET;THENCE NORTH 08 DEGREES 59 MINUTES 48 SECONDS EAST 41.70 FEET;THENCE SOUTH 81
DEGREES 00 MINUTES 12 SECONDS EAST 11.60 FEET;THENCE SOUTH 08 DEGREES 59 MINUTES 48 SECONDS WEST 41.70
FEET;THENCE SOUTH 81 DEGREES 00 MINUTES 12 SECONDS EAST 10.40 FEET;THENCE SOUTH 08 DEGREES 59 MINUTES 49
SECONDS WEST 33.00 FEET.;THENCE NORTH 81•DEGREES 00 MINUTES 12 SECONDS WEST 43.70 FEET TO THE POINT'OF
BEGINNING.TOGETHER WITH AN UNDIVIDED ONE-HALF INTEREST IN AND TO PARCEL C ALL OF LOT 8,A RESUBDIVISION OF
LOT 7,BLOCK 1,VAIL VILLAGE TWELFTH FILING ASUBDIVISION RECORDED IN THE OFFICE OF THE EAGLE COUNTY. '
COLORADO CLERK AND RECORDER,WITH THE EXCEPTION OF PARCELS.B-1 AND B-2 DESCRIBED BELOW AND PARCEL A
DESCRIBED ABOVE: PARCEL B-1 THAT PORTION.CF SAID LOT S DESCRIBED AS FOLLOWS: BEGINNING AT A POINT WHENCE
THE SOUTHWEST CORNER OF SAID LOT 8 BEARS SOUTH 36 DEGREES•59 MINUTES 20 SECONDS WEST 139.5,5 FEET DISTANT;
THENCE NORTH 08 DEGREES 59 MINUTES 48 SECONDS EAST 9.00 FEET THENCE NORTH 81 DEGREES 00 MINUTES 12
SECONDS WEST 0.30 FEET;THENCE NORTH 08 DEGREES 59 MINUTES 48 SECONDS EAST 8.90 FEET;THENCE NORTH 81 .•
DEGREES 00 MINUTES 12 SKCONDS WEST 47.70 FEET;THENCE SOUTH 08 DEGREES 59 MINUTES 48 SECONDS WEST 50.00
FEET:THENCE SOUTH 81 DEGREES 00 MINUTES 12 SECONDS EAST 48.00 FEET;THENCE NORTH 08 DEGREES 59 MINUTES 48
SECONDS EAST 32.10 TOWNSHIP TOTHE POINT OF BEGINNING,AND PARCEL B-2 THAT PORTION OF SAID LOT 8 DESCRIBED
AS FOLLOWS:BEGINNING AT A CORNER OF THE ABOVE DESCRIBED PARCEL A WHENCE THE SOUTHWEST CORNER OF'SAI-4
LOT B BEARS SOUTH 31 DEGREES 31 MINUTES 27 SECONDS WEST 168.13 FEET DISTANT;•THENCE THE FOLLOWING TWO
COURSES ALONG SAID PARCEL A: (1)SOUTH 81 DEGREES 00 MINUTES 12 SECONDS EAST 22.40 FEET;{2)NORTH 08 DEGREES
59 MINUTES 4-8 SECONDS EAST 41.70 FEET;THENCE NORTH 81 00 MINUTES.12 SECONDS WEST 22.40 FEET;THENCE SOUTH 06
DEGREES 59 MINUTES 48 SECONDS WEST 41.70 FEET TO THE POINT OF BEGINNING. NOTE:THE FINAL POLICY DOES NOT IN
ANY WAY GUARANTEE OR INSURE THE DIMENSIONS OF THE ABOVE DESCRIBED LAND.THE LEGAL DESCRIPTION IS DERIVED
FROM THE CHAIN OF TITLE AND ONLY AN ACCURATE SURVEY CAN DETERMINE THE DIMENSIONS.
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Form 13 closing/deedstwd.html 50049149 (346455)
201723648