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HomeMy WebLinkAboutPEC18-0030_approved documents_1538519308.pdf (0:) TOWN OF VAIL ACTION FORM Planning& Environmental Commission(PEC) Department of CommunityDevelopment 75 South Frontage Road West Vail,CO 81657 Tel: 970-479-2139 www.vailgov.com Project Name: Golden Peak Enterprises LLC Application Number: PEC18-0030 (815 Potato Patch)2017 Application Type: Subdivision Date Applied: 07/13/2018 Project Description: Realignthe property line dividing 815/Lot 2 Potato Patchand 814/Lot 3 Potato Patch CONTACTS ContactType: Applicant FullName: PierceArchitects (Kit Austin) Address: 1650 Fallridge Road C-1 Vail,CO 81657 Phone: 9704766342 ContactType: Applicant Fu llName: PierceArchitects (Jordan Kalasnik) Address: 1650 Fallridge Road C-1 Vail,CO 81657 Phone: 9704766342 ContactType: Property Owner Fu IlName: GOLDEN PEAKENTERPRISES LLC Address: Phone: None Project Address: 815 POTATO PATCH DR (210106301013) (210106301013) Job Site Location: Legal Description: Subdivision: VAIL POTATO PATCH FILING 1 Lot: 2 Block: 1 Parcel Number: 210106301013 BOARDS/STAFF ACTION Motion By: Kurz Action: Approved Second By: Gillette Vote: 6-0-0 Date: 08/13/2018 Conditions: No Conditions. Planner: Jonathan Spence Land Title Guarantee Company Customer Distribution Land Title- r RIMPAN r PREVENT FRAUD-Please remember focal!a member of o u rclosing team when "liner r?, I initiating a wire transfer or providing wiring instructions. Order Number: V50051138 Date:07/16/2018 Property Address: 815 &814 POTATO PATCH DRIVE,VAIL,CO 81657 PLEASE CONTACT YOUR CLOSER OR CLOSER'S ASSISTANT FOR WIRE TRANSFERINSTRUCTIONS For Closing Assistance For Title Assistance Eagle County Title Team 610 WESTLIONSHEADCIRCLE#300 VAIL,CO 81657 (970)477-4500(Work) eaglecountyrequests@ltgc.com Seller/Owner LAND TITLE GUARANTEE COMPANY GOLDEN PEAK ENTERPRISES LLC Attention:SARAH DOR MAN Deliveredvia:No Commitment Delivery 610 WESTLIONSHEADCIRCLE#300 VAIL,CO 81657 (970)476-2251 (Work) (970)476-4534(Work Fax) sdorman@ltgc.com Deliveredvia:Electronic Mail Lender-New Loan PIERCE ARCHITECTS Attention:JORDAN KALASNIK 1650 FALLRIDGE RD#C1 VAIL,CO 81657 (970)476-6342(Work) jkalasnik@vailarchitects.com Deliveredvia:Electronic Mail IF" Land Title Guarantee Company Estimate of Title Fees Land Tide CC ARNNTr.r rex mnnir Order Number: V50051138 Date:07/16/2018 Property Address: 815 &814 POTATO PATCH DRIVE,VAIL,CO 81657 Parties: GOLDEN PEAK ENTERPRISES, LLC,A FLORIDALIMITED LIABILITY COMPANY Visit Land Title's Website at www.ltgc.com for directions to any of our offices. Estimate of Title insurance Fees "TBD"Commitment $216.00 Total$216.00 If LandTitleGuarantee Company will be closing this transaction,the fees listed above will be collected at closing. Thank you for your order! ■ Note:The documents linked in this commitment should be reviewedcarefully.These documents,such as covenants conditions and restrictions, may affectthe title,ownership and use of the property.You may wish to engage legal assistance in orderto fully understand and be aware of the implicationsof the effect of these documents on your property. Chain of Title Documents: Eagle county recorded09/01/2017 under reception no.201716924 Eagle county recorded04/09/1997 under reception no.619468 Eagle county recorded11/04/1997 under reception no.638302 Plat Map(s): Eagle county recorded03/05/1974 under reception no. 129527 Eagle county recorded07/06/2007 under reception no.200718071 Eagle county recorded02/14/2018 under reception no.201802414 ALTA COMMITMENT Old Republic National Title Insurance Company Schedule A Order Number:V50051138 Property Address: 815&814 POTATO PATCH DRIVE,VAIL,CO 81657 1. Effective Date: 07/12/2018 at 5:00 P.M. 2. Policy to be Issued and Proposed Insured: "TBD"Commitment $0.00 Proposed Insured: 3. The estateor interestin the land described or referred to in this Commitmentand covered herein is: A Fee Simple 4. Title to the estateor interestcovered herein is at the effective date hereof vested in: GOLDEN PEAK ENTERPRISES, LLC,A FLORIDA LIMITED LIABILITY COMPANY 5. The Land referred to in this Commitmentis described as follows: PARCEL 1 LOT 2, BLOCK 1, VAIL/POTATO PATCH,ACCORDING TO THE PLAT RECORDED FEBRUARY 14, 2018 UNDER RECEPTION NO. 201802414,COUNTY OF EAGLE,STATE OF COLORADO. PARCEL2 LOT 3, BLOCK 1, VAIL/POTATO PATCH,ACCORDING TO THE PLAT RECORDED FEBRUARY 14, 2018 UNDER RECEPTION NO. 201802414,COUNTY OF EAGLE,STATE OF COLORADO. Copyright 2006-2018 American Land Title Association.All rights reserved. AMERICAN LAND TITLE The use of this Form is restricted to ALTA licensees and ALTA members in good standing ASSOCIATION as of the date of use.All other uses are prohibited. Reprinted under license f romthe American LandTitle Association. ALTA COMMITMENT Old Republic National Title Insurance Company Schedule B, Part! (Requirements) Order Number:V50051138 All of the following Requirements must be met: This proposedlnsured must notify the Company in writing of the name of any party not referred to in this Commitment who will obtain an interest in the Land or who will make a loan on the Land.The Company may then make additional Requirements or Exceptions. Pay the agreed amount for the estateor interestto be insured. Paythe premiums,fees,and chargesfor the Policyto the Company. Documents satisfactory to the Companythat convey the Title or create the Mortgage to be insured,or both, must be properly authorized,executed,delivered,and recorded in the Public Records. 1. RECORD DULY EXECUTEDAND ACKNOWLEDGED PLATOF A RESUBDIVISIONOF LOTS2 AND 3, BLOCK 1, VAIL/POTATO PATCH SUBDIVISION. NOTE:A COPY OF SAID PLATMUST BE SUBMITTEDTO LAND TITLE GUARANTEE COMPANY PRIOR TO RECORDATION.UPON RECEIPTAND REVIEWFURTHER REQUIREMENTSAND/OREXCEPTIONSMAY BE NECESSARY. 2. WRITTENCONFIRMATION THAT THE INFORMATION CONTAINED IN STATEMENTOF AUTHORITY FOR GOLDEN PEAK ENTERPRISES, LLC,A FLORIDA LIMITEDLIABILITY COMPANY RECORDEDSEPTEMBER 01, 2017 AT RECEPTION NO. 201716923 IS CURRENT. NOTE:SAID INSTRUMENT DISCLOSESSCOTT T. RYAN AS THE MANAGER AUTHORIZEDTO EXECUTE INSTRUMENTS CONVEYING, ENCUMBERING OR OTHERWISEAFFECTINGTITLE TO REAL PROPERTY ON BEHALF OF SAID ENTITY.IF THIS INFORMATION IS NOT ACCURATE,A CURRENT STATEMENTOF AUTHORITY MUST BE RECORDED. IF THERE IS A CHANGE IN OWNERSHIP OF THE PROPERTY TO BE INSURED HEREIN FROM THE VESTEDOWNER SET FORTH IN ITEM 4 OF SCHEDULEA HEREIN,THE TERMS,PROVISIONS AND CONDITIONS OF THE TOWN OF VAILTRANSFERTAX MAY BE APPLICABLE. AL TA COMMITMENT Old Republic National Title Insurance Company Schedule B, Part II (Exceptions) Order Number:V50051138 This commitmentdoes not republishany covenants,condition,restriction,or limitation contained in any document referred to in this commitmentto the extentthat the specific covenant,conditions,restriction,or limitation violates stateor federal law based on race,color,religion,sex,sexual orientation,gender identity,handicap,familialstatus,or national origin. 1. Any facts,rights,interests,or claims thereof,not shown by the Public Records but that could be ascertained by an inspection of the L andor that may be asserted by personsin possession of the L and. 2. Easements, liens or encumbrances,or claims thereof,not shown by the Public Records. 3. Any encroachment,encumbrance,violation,variation,or adverse circumstance affectingthe Title that would be disclosed by an accurate and complete land survey of the L andand 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 proposedinsured acquires of record for value the estateor interestor mortgage thereon covered by this Commitment. 6. (a)Taxes or assessments that are not shown as existing liens by the recordsof any taxing authoritythat leviestaxesor assessments on real property or by the Public Records;(b)proceedings by a public agency that may result in taxesor assessments,or notices of such proceedings,whether or not shown by the records of such agency or by the Public Records. 7. (a)Unpatented mining claims;(b)reservations or exceptions in patentsor in Acts authorizing the issuance thereof; (c)water rights,claims or title to water. 8. RIGHT OF WAY FOR DITCHES OR CANALS CONSTRUCTED BY THE AUTHORITY OF THE UNITED STATES AS RESERVED IN UNITED STATES PATENT RECORDEDJULY 13, 1939, IN BOOK 123 AT PAGE 617. 9. 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,EXCEPTTO THE EXTENTTHAT SAID COVENANT OR RESTRICTION IS PERMITTED BY APPLICABLE LAWAS CONTAINED IN INSTRUMENTRECORDEDMARCH 05, 1974, IN BOOK 233 AT PAGE 628 AND AS AMENDED IN INSTRUM ENTRECORDEDSEPTEM BER24, 1975, IN BOOK 241 AT PAGE 950. 10. EASEMENTS,CONDITIONS,COVENANTS, RESTRICTIONS, RESERVATIONS AND NOTES ON THE PLAT OF VAIUPOTATO PATCH RECORDED MARCH 5, 1974 IN BOOK 233 AT PAGE 629. 11. EASEMENTS,CONDITIONS,COVENANTS, RESTRICTIONS, RESERVATIONS AND NOTES ON THE PLAT OF A RESUBDIVISIONOF LOTS 2 AND 3, BLOCK 1, VAIL/POTATO PATCH RECORDED FEBRUARY 14, 2018 UNDER RECEPTION NO. 201802414. 12. MATTERSDISCLOSEDON THE IMPROVEMENTSURVEYPLAT ISSUED BY LELANDLECHNER CERTIFIED AUGUST 01, 2017. SAID DOCUM ENT STORED AS OUR ESI 33780755. ALTA COMMITMENT Old Republic National Title Ins uranceCompany Schedule B, Part II (Exceptions) Order Number:V50051138 13. DEED OF TRUST DATEDAUGUST 31, 2017 FROM GOLDEN PEAK ENTERPRISES, LLC,A FLORIDA LIMITED LIABILITY COMPANY TO THE PUBLICTRUSTEEOF EAGLE COUNTY FOR THE USE OF ALPINE BANK TO SECURE THE SUM OF$5,800,000.00, AND ANY OTHER AMOUNTS PAYABLE UNDER THE TERMS THEREOF,RECORDEDSEPTEMBER01, 2017, UNDER RECEPTION NO. 201716925. NOTE:THE ABOVE DEED OF TRUSTSECURESA LINEOF CREDIT. IF" LAND TITLE GUARANTEE COMPANY DISCLOSURE STATEMENTS Land Tide CC'ARM-Ur.r.rfMlrANr, ,.Siexr .r915:7- Note: ?f7- Note:Pursuantto CRS 10-11-122, notice is herebygiven that: (A) The Subject real property may be locatedin a special taxing district. (B) A certificate of taxes due listing each taxing jurisdictio nwill be obtained fro mthe co untytreasurer ofthe co untyin which the real property is locatedo rthatco untytreasurer's authorized agent unless the pro po sednsured provides written instructio nsto the contrary. (fo ran Owner's Po IicyofTitle I nsurancepertaining to a sale of residential real property). (C) The information regarding special districts and the boundaries of such districts may be obtained fro mthe Bo ardof Co untyCo mmissio ners,the Co untyClerk and Recorder,o rthe Co untyAssesso r. Note:Effective September 1, 1997, CRS 30-10-406 requiresthatall documents receivedfo rreco rdingo rfiling in the clerk and recorder's officeshall co ntaina to pmargin of at least o neinch and a left,right and botto mmargin of at least one half of an inch.The clerk and recorder may refuse to reco rdo rfile any do cumentthat do es no tco nfo rm,except that,the requirement fo rthe to pmargin shall no tapply to documents using forms o n which space is pro videdfo rreco rdingo rfiling information at the to pmargin of the document. Note:Co to radoDivisio no f Insurance Regulations 8-1-2 requiresthat"Everytitle entity shall be respo nsiblefo rail matters which appear of reco rdprio rto the time of reco rdingwhenever the title entity co nductsthe clo sing and is respo nsiblefo r reco rdingo rfiling of legal documents resulting fro mthe transaction which was clo sed".Pro videdthat LandTitle Guarantee Co mpanyco nductsthe do sing of the insured transaction and is respo nsiblefo rreco rdingthe legal do cuments fro mthe transaction,exceptio nnumber 5 will notappear o n the Owner's Title Po licyand the Lenders Po licywhen issued. Note:Affirmative mechanic's lien protection fo rthe Owner may be available(typically by deletio not Exceptio nno.4 of Schedule B,Sectio n2 of the Co mmitment fro mthe Owner's Po licyto be issued) upo nco mpliancewith the following conditions: (A) The land described in Schedule A of this commitment must be a single family residencewhich includes a condo miniumo rtownho useunit. (B) No labo ro r materialshave been furnished by mechanics o r material-men fo rpurposesof co nstructio no n the land described in Schedule A of this Commitment within the past 6 months. (C) The Co mpanymust receive an appropriate affidavit indemnifying the Co mpanyagainst un-filed mechanic's and material-men's liens. (D) The Co mpanymust receive payment of the appropriate premium. (E) If there has been co nstructio njmprovementsormajorrepairs undertaken on the property to be purchasedwithin six mo nths prio rto the Date of Co mmitment,the requirements to o btaincoveragefo runrecorded liens will include: disclo sureof certainco nstructio rinformation;financial information as to the seller,the builder and o rthe contractor; payment of the appropriate premium fully executed Indemnity Agreementssatisfactory to the co mpany,and,any additional requirements as may be necessary after an examination ofthe aforesaid information by the Company. No coveragewill be given under any circumstances fo rlabo ro rmaterial fo rwhich the insured has contracted fo ro ragreed to pay. Note:Pursuantto CRS 10-11-123, noticeis herebygiven: This notice appliesto owner's policy commitments disclosing that a mineral estate has been severed from the surface estate,in Schedule B-2. (A) Thatthere is recordedevidence that a mineral estate has been severed,leased,or otherwise conveyed from the surfaceestateand thatthereis substantial likelihoodthata third party holds some or all interestin oil,gas,other minerals,or geothermal energy in the property;and (B) That such mineral estate may include the rightto enter and use the property withoutthe surface owner's permission. Note:P ursuantto CRS 10-1-128(6)(a), It is unlawfulto knowingly providefalse,incomplete,or misleading facts or information to an insurancecompany for the purposeof defrauding or attempting to defraudthe company.Penalties may include imprisonment,fines,denial of insurance,and civil damages.Any insurancecompany or agentof an insurance company who knowingly provides false,incomplete,or misleading facts or information to a policyholder or claimantfor the purposeof defrauding or attempting to defraudthe policyholder or claimantwith regardto a settlementor award payable from insuranceproceeds shall be reported to the Colorado Division of Insurancewithin the Department of Regulatory Agencies. Note:P ursuantto Colorado Division of Insurance Regulations 8-1-3, notice is herebygiven of the availability of a closing protection letter for the lender,purchaser, lessee or seller in connection with this transaction. JOINT NOTICE OF PRIVACY POLICY OF LAND TITLE GUARANTEE COMPANY, -title LAND TITLE GUARANTEE COMPANY OF SUMMIT COUNTY C• ARM-.171-COWAN LAND TITLE INSURANCE CORPORATION AND —Since, ,— OLD REPUBLIC NATIONAL TITLE INSURANCE COMPANY This Statement is providedto you as a customer of LandTitle Guarantee Company and Meridian LandTitle,LLC,as agents for LandTitle InsuranceCorporation and Old Repub licNationalTitle I nsuranceCompany. 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 maintainingyour trust and confidence is the bedrockof our business.We maintain and regularly review internal and external safeguardsagainstunauthorized access to non-pub licpersonal information("Personal Information"). In the course of our business,we may collect Personal Information ab outyou from: • applications or other forms we receivefrom you, including communications sent throughTMX,our web-based transaction management system; • your transactions with,or from the services b eingperformed b y us, our affiliates,or others; • a consumer reporting agency,if such information is providedto us in connectionwith your transaction; and • The pub licrecordsmaintainedby governmental entitiesthatwe either obtaindirectlyfrom those entities,or from our affiliates and non-affiliates. Our policies regarding the protection of the confidentiality and security of your Personallnformation areas follows: • We restrictaccess to all Personal Information ab outyou to those employees who need to know that information in orderto provide products and services to you. • We maintain physical,electronicand procedural safeguardsthat comply with federal standardsto protect your Personal Information from unauthorized access or intrusion. • Employees who violateour strict policies and procedures regarding privacy aresubjectto disciplinaryaction. • We regularly assess security standardsand 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,thereare some situations in which Personallnformation may bedisclosed. We may disclose your Personal Information when you director give us permission;when we are required b y 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 Personallnformation when otherwise permitted by applicable privacy laws such as,for example,when disclosure is needed to enforceour 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 b reachthereof,shall be settled b y arbitration in accordance with the rules of the American Arbitration Association, and judgment upon the award rendered by the arbitrator(s) may b eentered in any court having jurisdictionthereof. * * Commitment For Title Insurance Issued by Old Republic National Title Insurance Corporation NOTICE * IMPORTANT—READ CAREFULLY:THIS COMMITMENT IS AN OFFER TO ISSUE ONE OR MORE TITLE INSURANCE POLICIES.ALLCLAIMSOR REMEDIES SOUGHT AGAINST THE COMPANY INVOLVING THE CONTENT OF THIS COMMITMENT OR THE POLICY MUST BE BASED SOLELY IN CONTRACT. THIS COMMITMENT IS NOT AN ABSTRACT OF TITLE,REPORT OF THE CONDITION OF TITLE,LEGAL OPINION,OPINION OF TITLE,OR OTHER REPRESENTATION OF THE STATUSOF TITLE.THE PROCEDURES USED BY THE COMPANY TO DETERMINE INSURABILITY OF THE TITLE,INCLUDING ANY SEARCHAND EXAMINATION,ARE PROPRIETARY TO THE COMPANY,WERE PERFORMED SOLELY FOR THE BENEFITOF THE COMPANY,AND CREATE NO EXTRACONTRACTUAL LIABILITY TO ANY PERSON,INCLUDING A PROPOSED INSURED. THE COMPANY'SOBLIGATION UNDER THIS COMMITMENT IS TO ISSUE A POLICY TO A PROPOSED INSURED IDENTIFIED IN SCHEDULEA IN ACCORDANCE WITH THE TERMS AND PROVISIONS OF THIS COMMITMENT.THE COMPANY HAS NO LIABILITY OR OBLIGATION INVOLVING THE CONTENT OF THIS COMMITMENT TO ANY OTHER PERSON.. COMMITMENT TO ISSUE POLICY Subj ectto the Notice;Schedule B,Part I—Requirements;Schedule B,Part II—Exceptions;and the Commitment Conditions,Old Republic National Title Insurance Company,a Minnesota corporation(the"Company"),commits to issue the Policy according to the terms and provisions of this Commitment.This Commitment is effective as of the Commitment Date shown in Schedule A for each Policy described in Schedule A,only when the Company has entered in Schedule A both the specified dollar amount as the Proposed Policy Amount and the name of the Proposed Insured.If all of the Schedule B,Part I—Requirements have not been met within 6 months after the Commitment Date,this Commitment terminates and the Company's liability and obligation end. COMMITMENT CONDITIONS 1. DEFINITIONS (a)"Knowledge"or"Known":Actual or imputed knowledge,but not constructive notice imparted by the Public Records. (b)"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,avenues, 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 to be insured by the Policy. (c)"Mortgage":A mortgage,deed of trust,or other security instrument,including one evidenced by electronic means authorized by law. (d) "Policy":Each contract of title insurance,in a form adopted by the American Land Title Association,issued or to be issued by the Company pursuant to this Commitment. (e) "Proposed Insured":Each person identified in Schedule A as the Proposed Insured of each Policy to be issued pursuant to this Commitment. (f)"Proposed Policy Amount":Each dollar amount specified in Schedule A as the Proposed Policy Amount of each Policy to be issued pursuant to this Commitment. (g)"Public Records":Records established under state statutes at the Commitment Date for the purpose of imparting constructive notice of matters relating to real property to purchasers for value and without Knowledge. (h)"Title":The estate or interest described in Schedule A. 2. If all of the Schedule B,Part I—Requirements have not been met within the time period specified in the Commitment to Issue Policy,Comitment terminates and the Company's liability and obligation end. 3. The Company's liability and obligation is limited by and this Commitment is not valid without: (a)the Notice; (b)the Commitment to Issue Policy; (c)the Commitment Conditions; (d)Schedule A; (e)Schedule B,Part I—Requirements;and (f)Schedule B,Part II—Exceptions;and (g)a counter-signature by the Company or its issuing agent that may be in electronic form. 4. COMPANY'SRIGHT TO AMEND The Company may amend this Commitment at any time.If the Company amends this Commitment to add a defect,lien,encumbrance,adverse claim,or other matter recorded in the Public Records prior to the Commitment Date,any liability of the Company is limited by Commitment Condition 5.The Company shall not be liable for any other amendment to this Commitment. 5. LIMITATIONS OF LIABILITY (a)The Company's liability under Commitment Condition 4 is limited to the Proposed Insured's actual expense incurred in the interval between the Company's delivery to the Proposed Insured of the Commitment and the delivery of the amended Commitment,resulting from the Proposed Insured's good faith reliance to: i. comply with the Schedule B,Part I—Requirements; ii. eliminate,with the Company's written consent,any Schedule B,Part II—Exceptions;or iii. acquire the Title or create the Mortgage covered by this Commitment. (b)The Company shall not be liable under Commitment Condition 5(a)if the Proposed Insured requested the amendment or had Knowledge of the matter and did not notify the Company about it in writing. (c)The Company will only have liability under Commitment Condition 4 if the Proposed Insured would not have incurred the expense had the Commitment included the added matter when the Commitment was first delivered to the Proposed Insured. (d)The Company's liability shall not exceed the lesser of the Proposed Insured's actual expense incurred in good faith and described in Commitment Conditions 5(a)(i)through 5(a)(iii)or the Proposed Policy Amount. (e)The Company shall not be liable for the content of the Transaction I dentificationData,if any. (f)I n no event shall the Company be obligated to issue the Policy referred to in this Commitment unless all of the Schedule B,Part I—Requirementshave been met to the satisfaction of the Company. (g)I n any event,the Company's liability is limited by the terms and provisions of the Policy. 6. LIABILITY OF THE COMPANY MUST BE BASED ON THIS COMMITMENT (a)Only a Proposed Insured identified in Schedule A,and no other person,may make a claim under this Commitment. (b)Any claim must be based in contract and must be restricted solely to the terms and provisions of this Commitment. (c)Until the Policy is issued,this Commitment,as last revised,is the exclusive and entire agreement between the parties with respect to the subject matter of this Commitment and supersedes all prior commitment negotiations,representations,and proposals of any kind,whether written or oral, express or implied,relating to the subject matter of this Commitment. (d)The deletion or modification of any Schedule B,Part I I—Exceptiordoes not constitute an agreement or obligationto provide coverage beyond the terms and provisions of this Commitment or the Policy. (e)Any amendment or endorsement to this Commitment must be in writing and authenticated by a person authorized by the Company. (f)When the Policy is issued,all liability and obligation under this Commitment will end and the Company's only liability will be under the Policy. 7. IF THIS COMMITMENT HAS BEEN ISSUED BY AN ISSUING AGENT The issuing agent is the Company's agent only for the limited purpose of issuing title insurance commitments and policies.The issuing agent is not the Company's agent for the purpose of providing closing or settlement services. 8. PRO-FORMA POLICY The Company may provide,at the request of a Proposed Insured,a pro-forma policy illustrating the coverage that the Company may provide.A pro-forma policy neither reflects the status of Title at the time that the pro-forma policy is delivered to a Proposed I nsured,nor is it a commitment to insure. 9. ARBITRATION The Policy contains an arbitration clause.All arbitrable matters when the Proposed Policy Amount is$2,000,000 or less shall be arbitrated at the option of either the Company or the Proposed I nsured as the exclusive remedy of the parties.A Proposed I nsured may review a copy of the arbitration rules at http://www.alta.org/arbitration. I N WI TNESSWHEREOF,Land Title I nsuranceCorporationhas caused its corporate name and seal to be affixed by its duly authorized officers on the date shown in Schedule A to be valid when countersigned by a validating officer or other authorized signatory. Issued by: ,•' 7.T '} , Old Republic National Title InsuranceCompany,a Stock Land Title Guarantee .t Ner' * * `'b' y Company Company - * * 400 Second Avenue South * 3033 East First Avenue Suite ` J * ; Minneapolis,Minnesota 55401 600 isi * (612)371-1111 Denver,Colorado80206 ='° * . * C; • 303-321-1880 ' .°'?o • yv��a `• 112Cr°7014, rI4,.la{4t 7-1 Mark Bilbrey,President President 4/201--- Rande Yeager,Secretary This page is only a part of a 2016 ALTA®Commitment for Title Insurance issued by Land Title I nsuranceCorporation.This Commitment is not valid without the Notice;the Commitment to Issue Policy;the Commitment Conditions;Schedule A;Schedule B,Part I—Requirements;and Schedule B,Part I I—Exceptionsand a counter-signature by the Company or its issuing agent that may be in electronic form. Copyright 2006-2016 American Land Title Association.All rights reserved. The use of this Form(or any derivative thereof)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.