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HomeMy WebLinkAboutADM18-0018_Approved Documents_1545320210.pdf Administrative (ADM) Department of CommunityDevelopment 75 South Frontage Road West TOWN OF VAIL ACTION FORM Vail, CO81657 Tel: 970-479-2139 www.vailgov.com Project Name: RS2 LLC Residence 2017 Application Number: ADM18-0018 Application Type: Plat (SF/DUP/CONDO) Date Applied: 12/04/2018 Project Description: DuplexSubdivsion with updated title information and party wall agreement CONTACTS Contact Type: Applicant Full Name: La Dolce Architecture, Inc. (Anne Gunion) Address: 4284 Columbine Drive Unit E 4284 Columbine Drive Unit Phone: 9703901429 E Vail, CO 81657 Contact Type: Property Owner Full Name: RS2 LLC Address: Phone: None Project Address: 4273 COLUMBINE DR (210112207011) (210112207011) Job Site Location: Legal Description: Subdivision:AIGHORN SUBDIVISION 3RD DDITION Lot: 16 Block: 9 A Parcel Number: 210112207011 BOARDS/STAFF ACTION Motion By: Action: StaffApproved Second By: Vote: Date: Conditions: - Approval of this project shall lapse and become void one (1) year following the date of final approval, unless a building permit is issued and construction is commenced and is diligently pursued toward completion. - No changes to these plans maybe made without the written consent of Town of Vail staff and/orthe appropriate review committee(s). Planner: Erik Gates PARTY WALL AND DUPLEX DECLARATION WHEREAS, RS2 LLC, a Colorado limited liability company ("Declarant"), is the owner in fee simple of the following described real estate (hereinafter, the"Subject Property"), situate in th e Town of Vail, County of Eagle and State of Colorado,to wit: Lot 16W and Lot 16E, Bighorn Subdivision Third Addition Amended Plat Block 9, a Resubdivision of Lot 16 according to the Plat recorded on at Reception No. , County of Eagle, State of Colorado (th e "Plat"); Lot 16W has the address of 4271 Columbine Drive,Vail, Colorado 81657; Lot 16E has the address of 4273 Columbine Drive,Vail, Colorado 81657; and WHEREAS, Declarant has constructed a duplex (th e"Building") consisting of two(2) dwelling units on the Subject Property; and WHEREAS, Declarant wish esto provide for separate ownership of such units and agreements related to the use, ownership and occupancy of Lot 16W and Lot 16E and the improvements located thereon. NOW THEREFORE, Declarant does hereby publish and declare that the following terms, covenants, conditions, easements, restrictions, uses, reservations, limitations and obligations shall be deemed to run with th eland described herein, shall be a burden and a benefit to Declarant, its successors and assigns, and any person acquiring or owning an interest in the real property which is described herein and improvements built therein,their grantees,personal representatives,heirs, successors and assigns. 1. Division of Real Property into Two Lots. The Subject Property is, hereby and upon th e recording of the Plat,divided into two parcels (individually, a "Lot"and collectively, the"Lots")each consisting of the Lot designated with the corresponding letter,together with all improvements thereon and all easements and rights located thereon or appurtenant thereto as provided herein, as follows: Lot 16W Lot 16E such Lots being shown on the Plat. 2. Description of Lot. (a) Each Lot shall be inseparable and may be leased, devised or encumbered only as a residence. (b) Title to a Lot may be held individually or in any form of concurrent ownership recognized in Colorado. In case of any such concurrent ownership, each co-owner shallbe jointly and severally liable for performance and observance of all the duties and responsibilities of an"owner" with respect to the Lot in which he owns an interest. For the purposes herein, there shall be deemed to be only two owners, the owner of Lot 16W and the owner of Lot 16E. The parties, if more than one,having th e ownership of each such Lot shall agree among themselves how to share the rights and obligations of such ownership, but all such parties shall be jointly and severally liable for performance and observance of all of the duties and obligations of an "owner" hereunder with respect to the Lot in which they own an interest. (c) Any contract of sale, deed,lease, deed of trust,mortgage,will or other instrument affecting a Lot may describe it by its Lot number and by reference to the Plat. (d) Each Lot sh all be considered a separate parcel of real property and shall be separately assessed and taxed. 3. Landscaping and Service Facilities. (a) Each owner shall be responsible for all landscaping and general outdoor improvements on his individual Lot and, except for any expense or liability caused through the negligence or willful act of the other owner, his family, agent or invitee, which shall be borne solely by such other owner,each owner sh allpay all expenses, liabilities and general upkeep responsibilities with respect to such landscaping and outdoor improvements located in or on his own Lot. The character of th e landscaping as initially installed on each Lot shall not be changed and new landscaping must conform to the existing landscaping except as otherwise mutually agreed upon in writing by both owners. The owner of one Lot shall not unreasonably or substantially adversely affect the value of the other Lot such as by poor maintenance and upkeep outside, and both owners sh all make all reasonable efforts to preserve a harmonious common appearance of th eLots. No landscaping, trees or shrubs located on an owner's Lot sh allunreasonably restrict the view corridor of the Lot of the other owner, except for any landscaping, trees or shrubs initially installed on each Lot by the Declarant. (b) Common facilities or other common equipment and property, if any, shall be owned as tenants in common and,except for any expenses or liability caused through the negligence or willful act of any owner,his family, agent or invitee, which sh all be borne solely by such owner,all expenses and liabilities concerned with such common equipment and property shall be shared equally between Lot 16W and Lot 16E. Expenses for construction and future maintenance, replacement and repair of future common facilities sh allbe allocated equally between the two Lots as described above. Notwithstanding the above, if a utility is separately metered but such service or any portion thereofis for the benefit of both Lot 16W and Lot 16E, then the cost of such service shall be equitably adjusted between the owners. 4. Party Wall. (a) Each owner of a separate Lot shall have a perpetual reciprocal easement in and to that part of the Subject Property owned by the other owner and on wh ichth e party wall is located, for party wall purposes,including maintenance,repair, and inspection; neither owner shall alter or change th e party wall in any manner, interior decoration excepted, and the party wall shall always remain in the same location as when erected. The costs of maintaining the party wall shall be borne 50% by Lot 16W and 50%by Lot 16E. (b) In the event of damage or destruction to the party wall from any cause, other than the negligence of either party, the current owners shall, at joint expense, repair or rebuild said wall to its previous condition which specifically includes the previous sound transmission coefficient, and each party, their successors and assigns shall have theright to thefull use of said wall so repaired and rebuilt. If either owner's negligence shall cause damage to or destruction of said wall, such negligent party sh all bear the entire cost of repair and reconstruction. 2 (c) Either owner shall have the right to make use of the party wall provided such use shall not impair the structural support or the sound transmission coefficient of the party wall. 5. Alteration,Maintenance and Repair. (a) If any improvement on Lot 16W or Lot 16E is damaged or destroyed, such damage or destruction shall be promptly repaired and reconstructed by the owner of the Lot upon which the damage or destruction occurred. Repair and reconstruction means the restoration of the improvements to substantially the same condition in which they existed prior to such damage or destruction. The cost to repair and reconstruct any improvement on Lot 16W or Lot 16E shall be the sole expense of the owner of said Lot except as modified by the provisions of this document and without prejudice, however, to th e right of any rule of law regarding liability for negligence or willful acts or omissions. Notwithstanding anything contained above to the contrary, if the negligence or willful act or omission of any owner,his agent or invitee, shall cause damage to, or destruction of any improvement on any Lot, such owner shall bearthe entire costs of repair or reconstruction. (b) Each owner shall be solely responsible for all maintenance and repair of th e exterior and interior of his residence, including all fixtures and improvements and all utility lines and equipment located therein or in, on or upon his Lot, which serve only such Lot, including, without limitation,the following: i. Those portions of the Building's foundation located on an Owner's Lot immediately underlying that Owner's dwelling unit; ii. All exterior decks, including appurtenant deck gutters and/or drainage systems, and supporting structures, located on that Owner's Lot;and iii. Thedriveway and landscaping areas located on that Owner's Lot(subject to the terms and conditions relating to the Driveway Easement, as defined and described in Section 10(d) below),including, without limitation, the obligation to remove any accumulated snow and ice. (c) Utility or service connections, facilities or other utility equipment and property located in,on or upon either of Lot 16W or Lot 16E which is used solely to supply or provide a service or utility to one Lot shall be owned by the owner of the Lot using such utility or service and all expenses and liabilities for repair and maintenance shallbe borne solely by the owner of such Lot who shallhavea perpetual easement in and to that part of such other Lot containing such property for purposes of maintenance, repair and inspection. The owner of such utility or service facilities or equipment sh all restore any disturbance to the surface of the oth er owner's Lot or any landscaping, driveway, retaining wall or other improvements whatsoever located therein as much as possible to their condition that existed immediately prior to commencement of work on such other owner's Lot within ten (10) days after completion of the work. (d) Drainage facilities located in,on or upon either of Lot 16W or Lot 16E which are used solely to drain water from one Lot shall be owned by the owner of th e Lot using such facilities and all expenses and liabilities for repair and maintenance shall be borne solely by the owner of such Lot wh o shall have a perpetual easement in and to that part of such other Lot containing such facilities for purposes of maintenance,repair and inspection. The owner of such drainage facilities shall restore any disturbance to the surface of the other owner's Lot or any landscaping, driveway, retaining wall or other improvements whatsoever located therein as much as possible to their condition that existed immediately prior to commencement of work on such other owner's Lot within ten(10) days after completion of the work. 3 (e) No owner shall make or suffer any structural or design change (including a color scheme change or roof replacement), either permanent or temporary of any type or nature whatsoever to the exterior of his Lot or construct any addition or improvement on his Lot without first obtaining the prior written consent thereto from the other owner, which consent shall not be unreasonably withheld or delayed. The owners will mutually agree on th a timing and materials of any roof replacement so that the roof improvements on both Lots are the same at all times. The improvements on both Lots shall have a common color scheme,and all improvements on both Lots shallbe painted and/or stained at the same time,the color scheme and timing of any painting and/or staining to be determined by the owners of both Lots jointly. Absent any agreement to a different schedule, the owners shall cooperate to havethe wood surfaces within both Lots painted and/or stained at the same time every five (5) years commencing on the date of recordation of this Declaration. (f) Wh ere th e owner of either Lot, in compliance with the otherprovisions of this Declaration, desires to build, renovate, excavate, improve or otherwise alter the structures or improvements located on his Lot, and wh ereth e owner has obtained the written consent thereto of the owner as provided in Subsection (e) above in this Section, the owner of the other Lot shall cooperate to the extent necessary to enable that owner to obtain any required building permit or similar permit or license. Notwithstanding anything contained herein, no owner may modify any improvement which would utilize more than one-half of the zoning density or other zoning rightsavailable to the Subject Property. Any costs or expenses associated with a building or similar permit shall be the expense of the owner desiring said permit and shall not be a joint expense of the owners of both Lots. 6. Mechanic's Liens,Indemnification. (a) Except for items incurred as a common expense as provided for herein, if either owner shall cause any material to be furnished to hisLot or any improvements made thereon or cause any labor to be performed therein or thereon, the other owner shall not under any circumstances be liable for the payment of any expense incurred or for the value of any work done or material furnished; all such work shall be at the expense of the owner causing it to be done, and such owner shall be solely responsible to contractors,laborers,materialmen and other persons furnishing labor or materials to h isLot or any improvements therein or thereon. Nothing herein contained shallauthorize either owner or any person dealing through, with or under either owner, to charge the Lot of the other owner with any mechanic's lien or other lien or encumbrance whatsoever; and, on the contrary (and notice is hereby given), th eright and power to charge any lien or encumbrance of any kind against th eother owner or the other owner's Lot for work done or material furnished to one owner's Lot is hereby expressly denied and prohibited. (b) Except as provided for in Section 9 below,if because of any act or omission of either owner any mechanic's or other lien or order for the payment of money shallbe filed against the other owner's Lot or any improvements therein or thereon, or against the other owner(whether or not such lien or order is valid or enforceable as such),theownerwhoseact or omission forms the basis for such lien or order shall,at his own cost and expense, cause the same to be cancelled and discharged of record or bonded by a surety company reasonably acceptable to the other owner, within thirty (30) days after the date of filing thereof, and further shall indemnify and save the other owner harmless from and against any and all costs, expenses, claims, losses or damages,including reasonable attorney's fees, resulting therefrom. 7. Use Restrictions. (a) The Lots shall be used for residential purposes only as a permitted use, and conditional and accessory uses shall be as permitted by the Town of Vail laws and regulations. No 4 structures of a temporary character, trailer,tent, shack, garage, barn or other out-building shall be constructed on any portion of any of the property at any time. (b) No animals, livestock or poultry of any kind shall be raised, bred or kept on any of said property, except that dogs,cats or other household pets,may be kept provided that they are not kept,bred or maintained for any commercial purposes and provided further that they do not unreasonably interfere with the quiet enjoyment of the other Lot by its owner. Any clean-up required or damage caused by an animal kept by an owner shallbe the responsibility of such owner keeping the animal, and each owner indemnifies the other for any damage or injury to person or property caused by any animal kept by an owner. (c) No advertising signs(except one "For Rent" or "For Sale"of not more than six (6) square feet per Lot),billboards,unsightly objects or nuisances shall be erected, placed or permitted to remain on the Subject Property, nor sh all any Lot be used in any way or for any purpose which may endangerthe health or unreasonably disturb the owner or resident of the adjoining Lot. (d) All rubbish, trash or garbage shall be regularly removed from each Lot and shall not be allowed to accumulate thereon. All such expenses are theexpenses of each individual owner, and are not a joint expense of the owners. (e) An owner shall do no act nor any work that will impair any easement or hereditament or do any act or allow any condition to exist which will adversely affect the oth erLot. (f) The owner of each Lot shallcomply with all restrictive covenants and Town of Vail laws and regulations governing the Subject Property, as amended from time to time, which are hereby incorporated into this Declaration by reference and which are enforceable directly by an owner. 8. Insurance. (a) Each owner shall keep hisLot and all improvements and fixtures located thereon insured against loss or damage by fire and extended coverage perils(including vandalism and malicious mischief) for the maximum appreciated replacement value thereof, and covering such otherrisks of a similar or dissimilar nature as are or shall hereafter customarily be covered with respect to similar properties issued by a responsible insurance company or companies authorized to do business in the State of Colorado. The insurance for each Lot shall contain waivers of subrogation and shall provide, to extent reasonably available, that the policy cannot be cancelled or substantially modified until after thirty (30) days prior written notice is first given to each owner and each first mortgagee. If necessary or desired by the owners,the owners will obtain a joint insurance policy covering such matters as mutually agreed upon by the owners. (b) Each owner shall provide and keep in force for theprotection of himselfgeneral public liability and property damage insurance against claims for bodily injury or death or property damage occurring in, on or upon his Lot and the improvements thereon, in a limit of not less than One Million Dollars ($1,000,000.00) in respect to bodily injury or death to any number of persons arising out of one accident or disaster, or for damage to property, and each owner shall name the other owner as an additional insured party under such policy. (c) Each owner shall deliver to the other owner certificates evidencing all insurance required to be carried under this Section upon reasonable request, each containing agreements by th e insurers not to cancel or modify the policies without giving the other owner written notice of at least thirty 5 (30) days. Each owner sh allh ave th e right to inspect and copy all such insurance policies of the other owner and require evidence of the payments of premiums thereon. (d) Nothing provided in this Section shall prevent the owners from jointly acquiring a single insurance policy to cover any one or more of the hazardsrequired in this Section. Such premiums shall be apportioned according to the relevant coverage to each Lot. (e) Each owner may obtain additional insurance at his own expense for his own benefit provided that all such policies shall contain waivers of subrogation and,provided further, that th e liability of the carriers issuing coverage of the Lots hereunder sh all not be affected or diminished by reason of any such insurance carried by any owner. (f) Insurance coverage on any personal property items stored within the improvements located on each Lot sh allbe the responsibility of the owner thereof However, nothing herein shall be construed to require such insurance. 9. Enforcement. (a) If an owner,at any time, shall neglect or refuse to perform or pay his share of any obligation required hereunder, the other owner may,but shall not be obligated to, after twenty (20) days written notice to th eother owner unless the circumstances require immediate action, make such payment, or, on behalf of such other owner,expend such sum as may be necessary to perform such obligation, including but not limited to, the payment of any insurance premiums required hereunder for repair, restoration or maintenance, and such other owner shall have an easement in and to that part of such defaulting owner's Lot as is reasonably necessary for such repair,restoration or maintenance. (b) All sums so paid or expended by an owner,with interest thereon at the rate of eighteen percent (18%)per annum from the date of such payment or expenditure, shall be payable by the owner so failing to perform(the"Defaulting Owner")upon demand of the other owner. (c) All sums so demanded but unpaid by the Defaulting Owner shall constitute a lien on th eLot of th eDefaulting Owner in favor of th eother owner prior to all other liens and encumbrances, except: (i) liens for taxes and special assessments; and(ii)the lien of any first mortgage or first deed of trust of record encumbering such Lot. The lien sh all attach from the date wh en the unpaid sum sh all become due and may be foreclosed in like manner as a mortgage on real property. To evidence such a lien,written notice of thelien shall be prepared, setting forth the amount of the unpaid indebtedness, the name of the Defaulting Owner, and description of the Lot to which the lien shall attach. Such notice sh all be signed by the owner in whose favorthe lien shall be filed,and the lien shall be recorded in the office of theClerk and Recorder of theCounty of Eagle. If an owner incurs costs or expenses in connection with the collection of sums expended by such owner, including any costs and expenses of recording a lien or those of any foreclosure or other collection proceedings, the Defaulting Owner sh allbe required to pay such costs and expenses, including reasonable attorney's fees. (d) The lien provided for herein shall be subordinate to the lien of any first mortgage or deed of trust, including all additional advances thereon. Sale or transfer of either Lot as the result of court foreclosure or a mortgage foreclosure through the public trustee, or any proceeding in lieu of foreclosure, sh all extinguish the lien as to payments thereof which become due prior to such sale or transfer, but shall not relieve any former owner of personal liability therefor. The first mortgagee of such Lot who acquires title by way of foreclosure or th etaking of a deed in lieu th ereofshall not,however, be liable for any past due amounts and/or obligations due hereunder and shall only become liable for future amounts and/or obligations on the date it becomes the owner of such Lot. No such sale or transfer as 6 described herein shall relieve such Lot from liability for any amounts and/or obligations thereafter becoming due or from the lien thereof. In the event of th e sale or transfer of a Lot with respect to which sums shallbe unpaid by a Defaulting Owner, except transfers to a first mortgagee in connection with a foreclosure of its lien or a deed in lieu thereof, th epurchaser or other transferee of an interest in such Lot shall be jointly and severally liable with the seller or transferor thereoffor any such unpaid sums. (e) Upon written request of any owner,mortgagee,prospective mortgagee,purchaser or other prospective transferee of a Lot,the owner of the other Lot shall issue a written statement setting forth the amount he is owed under this Section,if any. Such statement is binding upon the executing owner in favor of any person who may rely thereon in good faith. Unless a request for such statement shall be complied with within fifteen (15) days after receipt thereof, all unpaid sums which become due prior to the date of making the request shallbe subordinated to the lien or other interest of the person requesting such statement. (f) Each provision of this Declaration shall be enforceable by any owner by a proceeding for a prohibitive or mandatory injunction or by a suit or action to recover damages. If court proceedings are instituted in connection with the rights of enforcement and remedies provided in this Declaration, the prevailing party shall be entitled to recover its costs and expenses in connection therewith, including reasonable attorney's fees. (g) Each owner hereby agrees that any and all actions in equity or at law which are instituted to enforce any provision hereunder shall be brought in and only in the courts of the County of Eagle, State of Colorado. (h) Failure to enforce any provision of thisDeclaration shall not operate as a waiver of any such provision, the rightto enforce such provision thereafter, or of any other provision of this Declaration. (i) Any exercise of any rightgranted hereunder by one owner with respect to the other owner's Lot,including but not limited to,the use of any easement granted herein, shall be exercised in a manner which shallnot unreasonably hinder, impede or impose upon such other owner's use and quiet enjoyment ofhisLot. 10. Easements. (a) Easement for Encroachments. Each Lot shall be subject to an easement for encroachments created by construction, settling and overhang, previously existing or as designed and constructed by the Declarant or as a result of any addition or improvement pursuant to th is Declaration. A valid easement for such encroachments and for the maintenance thereof shall exist so long as the applicable encroachment shall stand. In the event any improvement is partially or totally destroyed, and th enrebuilt, the owners agree that minor encroachments of parts of an adjacent Lot due to construction shall be permitted and that a valid easement for said encroachment and the maintenance th ereofshall exist so long as the encroachment shall stand. (b) Easement for Support and Maintenance. Each Lot is subject to a blanket easement for support and a blanket easement for the maintenance of the residences and other structures or improvements presently situated, or to be built in the future, on the Lots. (c) Blanket Utility Easement. Th ere is hereby created a blanket easement upon, across,over and under the unimproved portion of each of the Lots outside the building footprint for th e benefit of the owners of the Lots, for ingress and egress, installation,replacing, repairing and maintaining 7 all common property, existing utility facilities and future utilities that serve both owners, including, but not limited to, water, sewer, gas, telephone, cable television and electricity. Said blanket easement includes future utility services not presently available to the Lots which may reasonably be required in the future. By virtue of th is easement, it shall be expressly permissible for the companies providing utilities to erect and maintain the necessary equipment on any of the Lots and to affix and maintain electrical and/or telephone wires, circuits and conduits on, above, across and under the roofs and exterior walls of the improvements, all in a manner customary for such companies in the area surrounding the Subject Property. Notwithstanding the foregoing, all such utility equipment, wires, circuits and conduits will be placed on th eLot benefited thereby to th eextent practicable, will be placed underground if possible, and to the extent practicable will be placed as close to the Lot line as practicable. Either owner shall have the right to relocate within his Lot any utility at hissole cost and expense. (d) Driveway Easement. The owner of Lot 16W is hereby granted a perpetual, exclusive easement on, over, under and through that portion of Lot 16E designated as "Access Easement for Benefit of Lot 16W" on the Plat (the "Driveway Easement") for purposes of (i) vehicular and pedestrian ingress and egress to and from Columbine Drive, and (ii) the snowplowing, maintenance, repair and replacement of driveway improvements located within the Driveway Easement as originally constructed by Declarant. No otherimprovements, decorations, signage, storage or other items will be placed in the Driveway Easement by the owner of Lot 16W without the written consent of the owner of Lot 16E. The Driveway Easement is for the exclusive use and benefit of Lot 16W and shall be maintained and all related expenses and liabilities shallbe borne solely by the owner of Lot 16W. No portion of the Driveway Easement shall be used by the owner of Lot 16E. Similarly, the driveway serving Lot 16E and located wholly on Lot 16E shall be for theexclusive use and benefit of Lot 16E and shall be maintained and all related expenses and liabilities shall be borne solely by theowner of Lot 16E. No portion oftheLot 16E driveway shall be used by theowner of Lot 16W. Theowner of one Lot shall not unreasonably or substantially adversely affect the value of the other Lot such as by poor maintenance and upkeep of the driveway serving such owner's Lot. 11. Agreement to Encourage Resolution of Disputes; Exclusive Procedures; Statutes of Limitation. (a) IMPORTANT NOTICE: Declarant, all Owners, and any Person not otherwise subject to the Declaration but who agrees to submit to the procedures set forth in this Section 11 (these "Procedures"), including all other construction professionals, architects, contractors, subcontractors, developers, builders, builder vendors, engineers, inspectors and others who performed or furnished any engineering, design, planning, supervision, inspection, construction or observation of the construction of any improvement to the Subject Property (each of the foregoing being referred to as a "Party"), hereby agree to encourage the amicable resolution of disputes involving the improvements to the Subject Property and the Lots without the emotional and financial costs of litigation. Accordingly, each Party covenants and agrees to submit all Defect Claims, as defined below,to the Procedures set forth herein and not to a court of law. ALL PARTIES HERBY AGREE TO THE MANDATORY MEDIATION AND ARBITRATION OF ALL DEFECT CLAIMS AS SET FORTH IN THIS SECTION 11 AND IRREVOCABLY WAIVE ANY RIGHT TO TRIAL OF ANY DEFECT CLAIM BY JURY OR OTHERWISE IN A COURT OF LAW. i. EACH PARTY AGREES THAT THESE PROCEDURES SHALL BE THE SOLE AND EXCLUSIVE REMEDY THAT EACH PARTY SHALL HAVE FOR ANY DEFECT CLAIM. Should any Party commence litigation or any other action against any Party in violation of the terms of this Section 11, such Party shall reimburse all costs and expenses, including attorneys' fees, incurred by the other Party in such litigation or action within ten(10)days after written demand. 8 ii. The Parties understand and agree that no Defect Claim may be initiated after the date when institution of legal or equitable proceedings based on such Defect Claim would be barred by the applicable statute of limitation or statute of repose. (b) Definition of Defect Claim. Any Claim involving(i)th esoils of any the Subject Property or the presence of radon and/or mold within any Lot or other areas within the Lots or Building (th e"Project"); (ii) land development, design, construction and/or alteration of any of the improvements within the Subject Property or either Lot and/or any alleged defect therein; or(iii)any rights, obligations or duties of any Party under any warranty, whether express, implied or limited, between Declarant and any Owner,however arising, is referred to herein as a"Defect Claim"and the alleged defect,the"Alleged Defect." The Owners acknowledge, understand and agree that not every necessary repair or replacement of an improvement within the Building is due to a construction defect and, similarly, Declarant and other construction and design professionals that are Parties hereunder acknowledge, understand and agree that not every necessary repair or replacement of an improvement is due to faulty required maintenance of or damage to such improvement. Often, such repair and replacement issues arise from a combination of issues that may or may not include the original design and construction, the level of inspection and maintenance programs (or lack thereof) and th eexistence of other factors such as unusual weather events or conditions, improper use and/or unforeseen wear and tear. This Section 11 supports a proper evaluation of all factors and encourages a collaborative and comparative approach to responsibility. i. Exclusions. Notwithstanding the foregoing, the following will not be considered "Defect Claims" unless all parties to the matter otherwise agree to submit the matter to the Procedures set forth in this Section 11: (i) any suit or other action by the Declarant or either Owner to act under or enforce any provisions of this Declaration relating to additions or alteration of improvements by Owners and/or any restrictive covenants or obligations of this Declaration, including any suit to obtain a temporary restraining order or injunction(or equivalent emergency equitable relief) or such other ancillary relief as the court may deem necessary, and (ii) any dispute, claim,action or suit between Owners, which does not include Declarant as a party. Declarant will not participate in any way in disputes between Owners which do not involve a claim against the Declarant. (c) Informal Procedures. All parties hereby agree to abide by the notice and inspection procedures and all rights and remedies provided for under the Colorado Construction Defect Action Reform Act codified at C.R.S. § 13-20-801 et seq.("CDARA"). (d) Mediation. i. If,following compliance with the notice and inspection procedures set forth in CDARA, no offer to settle a Defect Claim is made by the party against wh oma Defect Claim is made (the"Respondent") or if the party asserting a Defect Claim("Claimant")rejects an offer, the Claimant sh all h ave thirty (30) days to submit the Defect Claim to mediation to an independent agency providing dispute resolution services in Eagle County, unless otherwise agreed by the Parties. A mediator sh all be selected no later than fifteen (15) days after th e Claimant has given notice to the Respondent of its submittal to mediation and if the Parties are unable to agree on a mediator, one shall be chosen by the American Arbitration Association. Each Party shallbear its own costs of the mediation, including attorneys' fees,and each Party shall share equally all charges rendered by the mediator. ii. If the Claimant does not submit the Defect Claim to mediation within such time, or does not appear for the mediation when scheduled,th eClaimant shall be deemed to have waived the Defect Claim,and the Respondent shall be released and discharged from any and 9 all liability to Claimant on account of such Defect Claim; provided, nothing herein shall release or discharge Respondent from any liability to any person oth erthan the Claimant. iii. If the parties do not settle the Defect Claim within forty-five (45) days after submission of th ematter to mediation, or within such time as determined reasonable by th e mediator, the mediator shall issue a notice of termination of th emediation proceedings indicating that theparties are at an impasse and thedate that mediation was terminated. TheClaimant shall thereafter be entitled to submit the Defect Claim to binding arbitration as provided below. iv. Any settlement of the Defect Claim through mediation or through negotiation shall be documented in writing and signed by th eParties. If any Party thereafter fails to abide by the terms of such agreement, then any other Party may file suit or initiate administrative proceedings to enforce such agreement without the need to again comply with these Procedures. In such event, th eParty taking action to enforce the agreement or award shall, upon prevailing, be entitled to recover from the non-complying Party (or if more than one non- complying Party, from all such Parties jointly and severally) all costs incurred in enforcing such agreement or award,including,without limitation, attorney's fees and court costs. (e) Final and Binding Arbitration. If the dispute is not resolved or cured following good faith negotiations, the Parties shall select a mutually agreeable arbitrator and submit the dispute to such arbitrator for binding arbitration in Eagle County, Colorado within thirty (30) days under the appropriate Arbitration Rules of the American Arbitration Association. In the event the Parties are unable to agree upon th e arbitrator, th earbitrator shall be appointed in accordance with th erules and procedures of the American Arbitration Association. Arbitration of any dispute between the owners under this Declaration shall proceed even though there may be related disputes involving third parties which cannot be arbitrated, such as mechanics' lien claims, arising out of transactions involving the Owners. The arbitration award may be enforced in any court of competent jurisdiction in the State of Colorado, in accordance with the provisions of the Colorado Uniform Arbitration Act and/or any other statute or rule permitting an arbitration award to be enforced. 12. General Provisions. (a) Notices; Computation of Time. Each owner shall register its mailing address with the other owner and all notices or demands intended to be served upon owners shall be sent by certified mail,postage prepaid, addressed in th ename of th eowner at such registered mailing address. If an owner hasnot registered his address with th eother owner, such other owner may deliver any notice to the address of the other owner on record with the Assessor of Eagle County, Colorado. In the alternative, notices may be delivered if in writing, personally to owners. Notices sent by certified mail shall be deemed received by therecipient three (3) business days after posted with theUnited States Post Office, and notices personally delivered shall be deemed delivered upon the date of receipt. In the event any date called for herein falls on a Saturday, Sunday or legal holiday for which U.S. mail service is not provided, such date shall be extended to the next business day following such Saturday, Sunday or holiday. (b) No Response to Request Deemed Approval. If an owner submits a request to th e other owner for consent or approval in accordance with Section 5 hereof or for any other purpose,a response to such request by theother owner shall not be deemed unreasonably delayed if delivered to th e requesting owner within thirty(30) days after the delivery of the request to such owner. If no response to a submission is received by the requesting owner within thirty (30) days after the delivery of the request to the oth erowner,then the submission request by the owner shall be deemed approved. 10 (c) Amendment or Revocation. Th isDeclaration may be amended or revoked at any time upon unanimous written approval in recordable form of all owners; provided, h owever,th at th e provisions of Section 11 hereof cannot be amended, supplemented or revoked without the written approval of the Declarant. The covenants and restrictions of this Declaration sh all be amended or revoked only by an instrument which specifically refers to this Declaration and which is signed by each of the then existing owners (and the Declarant, if applicable). Any amendment and/or revocation so made must be properly recorded at the Office of the Clerk and Recorder of the County of Eagle, State of Colorado. (d) Effect of Provisions of Declaration. Each provision of th isDeclaration, and any agreement,promise, covenant and undertaking to comply with each provision of this Declaration,and any necessary exemption or reservation or grant of title, estate, right or interest to effectuate any provision of thisDeclaration: (i) shall be deemed incorporated in each deed or other instrument by which any right, title or interest in any portion of Lot 16W or Lot 16E is granted, devised or conveyed, whether or not set forth or referred to in such deed or other instrument; (ii) shall,by virtue of acceptance of any right,title or interest in any portion of Lot 16W or Lot 16E by an owner, be deemed accepted, ratified, adopted and declared as a personal covenant of such owner and, as a personal covenant, shall be binding on such owner and his heirs,personal representatives, successors and assigns and sh all be deemed a personal covenant to,with and for th ebenefit of each owner of any portion of Lot 16W or Lot 16E; and(iii)sh all be deemed a real covenant by Declarant, for itself, its administrators, successors and assigns, and also an equitable servitude,running, in each case,as a burden with and upon the title to each and every portion of Lot 16W or Lot 16E. (e) Severability. Invalidity or unenforceability of any provision of this Declaration in wh ole or in part sh allnot affect the validity or enforceability of any other provision or any valid and enforceable part of a provision of this Declaration which shall remain in full force and effect. (f) Captions. The captions and headings in this instrument are for convenience only and shall not be considered in construing any provisions of this Declaration. (g) Construction. When necessary for proper construction, the masculine of any word used in this Declaration shall include the feminine or neuter gender, and the singular th eplural, and vice versa. (h) Governing Law. This Declaration is made and executed under and in respect to, and shall be governed and construed by,the laws of the State of Colorado where the Lots are situated. IN WITNESS WHEREOF,the undersigned being the Declarant herein, has hereunder set his hand this day of ,2018. RS2 LLC,a Colorado limited liability company By: Name: Title: 11 STATE OF COLORADO ) )ss. COUNTY OF EAGLE ) The foregoing instrument was acknowledged before me this day of , 2018, by as of RS2 LLC,a Colorado limited liability company. Witness my hand and official seal. My Commission Expires: . [SEAL] Notary Public 12 JOINDER OF LIENOR The undersigned, beneficiary under the deed of trust recorded January 4, 2018, at Reception No. 201800185 in the office of the Clerk and Recorder of Eagle County, Colorado (th e"Deed of Trust"), as such Deed of Trust may be amended and supplemented from time to time, and the related Disburser's Notice in connection with the Deed of Trust recorded January 4,2018 under Reception No.201800186 in theoffice oftheClerk and Recorder of Eagle County, Colorado (the "Disburser's Notice"), for itselfand its successors and assigns, approves the foregoing Party Wall and Duplex Declaration, affecting all or a portion of the property encumbered by the Deed of Trust, and agrees that no foreclosure or other enforcement of any remedy pursuant to the Deed of Trust shall impair, invalidate, supersede or otherwise affect the covenants, conditions, restrictions and easements established by this Party Wall and Duplex Declaration. ALPINE BANK By: Name: Title: STATE OF ) ) ss. COUNTY OF ) The foregoing instrument was acknowledged before me this day of , 2018, by as of Alpine Bank. WITNESS my hand and official seal. My commission expires: . [SEAL] Notary Public PLANNING FEE RECEIPT TOWN OF VAIL Case # ADM18-0018 Date Printed: 12/20/2018 TOWN OF VAIL - FEES RECEIPT Planning Summary Type: Administrative(ADM) Submittal D ate: 12/04/2018 Subcases: Plat(SF/DUP/CONDO) Bond Expire D ate: Description of Work: Duplex Su bdivsion with updated title information and party wall agreement Property Information Address: 4273 COLUMBINE DR(210112207011) Tax ID: 210112207011 Owner: RS2 LLC Contacts Contact Type: Applicant Company Name: La Dolce Architectu re, Inc. Full Name: Anne Gu nion Address: 4284 Colu mbine Drive Unit E 4284 Colu mbine Drive Unit E Vail, CO 81657 Email: annefgu nion@yahoo.com Contact Type: Property Owner Full Name: RS2 LLC Address: Planning Fees Fee Information Account Amount Administative Plat Fee 001-0000.31125.00 $100.00 Payment Information D ate Paid Payment Type Amount Administative Plat Fee 12/04/2018 Credit Card $100.00 Paid By:Web payment-Notes:Transaction ID:41085928146,au th code:05289P FEE TOTAL $100.00 AMOUNT PAID $100.00 BALANCE D UE $0.00 75 South Frontage Road West,Vail,Colorado 81657 12/20/2018 -8:22:17 AM-Generated by:cgodfrey 1/1 INVOICE pigLand Title Guarantee Company 5975 Greenwood Plaza BlvdSuite 125 Land Title Greenwood Village, CO 80111 GUARANTEE COMPANY 970-476-2251 W W W.1TGC.COM Reference RS 2 LLC RICH SCHIERBURG Your Reference Number: TBD Commitment-50052229 1400 16TH ST#400 Our Order Number: VA-13012 DENVER,CO 80202 Our Customer Number: 73461.1 Invoice Requested by: RICH SCHIERBURG Invoice(Process) Date: December 04, 2018 Transaction Invoiced By: Web Services Email Address: system@ltgc.com Invoice Number: VA-13012 Date: December04, 2018 Order Number: 50052229 PropertyAddress: 4273 COLUMBINE DR VAIL 81657 Invoice Charges Service: TBD Commitment $216.00 Ref: 50052229 Addr: 4273 COLUMBINE DR Party: RS2 LLC, A COLORADO LIMITED LIABILITY COMPANY Total Amount Invoiced: $216.00 Less Payment(s) : $0.00 Balance Due: $216.00 Due and Payable upon receipt Please make check payable to Land Title Guarantee Company and send to the address at the top of Page 1. Please reference Invoice Number VA-13012 on your Payment Page 1 invoice.odt 14420 07/2015 07/30/13 11:06:43 AM IP" Land Title Guarantee Company Customer Distribution Land Title- C..',11,,Tri r:^Mrmr PREVENT FRAUD-Please remember tocall a member ofourclosing team when „Ciu:rryr- } initiating a wire transfer or providing wiring instructions. Order Number: V50052229 Date: 12/04/2018 Property Address: 4273 COLUMBINE DR,VAIL,CO 81657 PLEASE CONTACT YOUR CLOSER OR CLOSER'S ASSISTANT FOR WIRE TRANSFER INSTRUCTIONS For Closing Assistance For Title Assistance Eagle County Title Team 610 WEST LIONSHEAD CIRCLE#300 VAIL, CO 81657 (970)477-4500(Work) eag leco u ntyreq uestsO ltg c.com Seller/Owner Mortgage Broker RS2 LLC LAND TITLE GUARANTEE COMPANY Attention: RICH SCHIERBURG Attention:SARAHDORMAN Delivered via: Electronic Mail 610 WEST LIONSHEAD CIRCLE#300 VAIL, CO 81657 (970)476-2251 (Work) (970)476-4534(Work Fax) sdorman@ltgc.com Delivered via: Electronic Mail Agent for Seller EAGLE VALLEY SURVEYING LIV SOTHEBY'S INTERNATIONAL REALTY Attention: MIKE POST Attention: BENJAMIN FINN PO BOX 1230 BEAVER CREEK LODGE EDWARDS, CO 81632 PO BOX 539 (970)949-1406(Work) EDWARDS, CO 81632 (970)845-9504(Work Fax) (970)845-0422(Work) mikepost@evsurvey.com (970)445-0623(Home) Delivered via: Electronic Mail (970)845-0423(Work Fax) bfinn@livsothebysrealty.com Delivered via: Electronic Mail IF" Land Title Guarantee Company Estimate of Title Fees Land Title CC.MHTF.F rsxaFHnr, -.Simrr 1117 Order Number: V50052229 Date:12/04/2018 Property Address: 4273 COLUMBINE DR,VAIL,CO 81657 Parties: RS2 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 "TBD"Commitment $216.00 Total$216.00 If Land Title Guarantee 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 reviewed carefully.These documents,such as covenants conditions and restrictions, may affect the title, ownership and use of the property.You may wish to engage legal assistance in order to fully understand and be aware of the implications of the effect of these documents on your property. Chain of Title Documents: Eagle county recorded 06/29/2017 under reception no.201712536 Eagle county recorded 08/08/1966 at book 199 page 189 Plat Map(s): Eagle county recorded 06/03/1963 under reception no.98059 ALTA COMMITMENT Old Republic National Title Insurance Company Schedule A Order Number:V50052229 Property Address: 4273 COLUMBINE DR,VAIL, CO 81657 1. Effective Date: 11/30/2018 at 5:00 P.M. 2. Policy to be Issued and Proposed Insured: "TBD"Commitment $0.00 Proposed Insured: 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: RS2 LLC,A COLORADO LIMITED LIABILITY COMPANY 5. The Land referred to in this Commitment is described as follows: LOT 16, BLOCK 9, BIGHORN SUBDIVISION THIRD ADDITION AMENDED PLAT,ACCORDING TO THE PLAT RECORDED OCTOBER 4, 1963 AT RECEPTION NO. 98059, COUNTY OF EAGLE,STATE OF COLORADO. Copyright 2006-2018 American Land Title Association.All rights reserved. AMER!CAN 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 Land Title Association. n na ALTA COMMITMENT Old Republic National Title Insurance Company Schedule B, Part I (Requirements) Order Number: V50052229 All of the following Requirements must be met: This proposed Insured 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 estate or interest to be insured. Pay the premiums,fees,and charges for the Policy to the Company. Documents satisfactory to the Company that 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 EXECUTED AND ACKNOWLEDGED PLAT OF A RESUBDIVISION OF LOT 16, BLOCK 8, BIGHORN SUBDIVISION THIRD ADDITION. NOTE:A COPY OF SAID PLAT MUST BE SUBMITTED TO LAND TITLE GUARANTEE COMPANY PRIOR TO RECORDATION. UPON RECEIPT AND REVIEW FURTHER REQUIREMENTS AND/OR EXCEPTIONS MAY BE NECESSARY. 2. RECORD DULY EXECUTED AND ACKNOWLEDGED PARTY WALL AGREEMENT FOR A RESUBDIVISION OF LOT 16, BLOCK 8,BIGHORN SUBDIVISION THIRD ADDITION. NOTE:A COPY OF SAID PARTY WALL AGREEMENT MUST BE SUBMITTED TO LAND TITLE GUARANTEE COMPANY PRIOR TO RECORDATION. UPON RECEIPT AND REVIEW FURTHER REQUIREMENTS AND/OR EXCEPTIONS MAY BE NECESSARY. 3. WRITTEN CONFIRMATION THAT THE INFORMATION CONTAINED IN STATEMENT OF AUTHORITY FOR RS2 LLC,A COLORADO LIMITED LIABILITY COMPANY RECORDED JUNE 29,2017 AT RECEPTION NO. 201712535 IS CURRENT. NOTE:SAID INSTRUMENT DISCLOSES RYAN G. SORROZ AND RICHARD A.SCHIERBURG AS THE MANAGERS AUTHORIZED TO EXECUTE INSTRUMENTS CONVEYING, ENCUMBERING OR OTHERWISE AFFECTING TITLE TO REAL PROPERTY ON BEHALF OF SAID ENTITY. IF THIS INFORMATION IS NOT ACCURATE,A CURRENT STATEMENT OF AUTHORITY MUST BE RECORDED. AL TA COMMITMENT Old Republic National Title Insurance Company Schedule B, Part II (Exceptions) Order Number:V50052229 This commitment does not republish any covenants,condition,restriction,or limitation contained in any document referred to in this commitment to the extent that the specific covenant,conditions, restriction,or limitation violates state or federal law based on race,color, religion,sex,sexual orientation,gender identity, handicap,familial status,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 persons in 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 affecting the 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 proposed insured acquires of record for value the estate or interest or mortgage thereon covered by this Commitment. 6. (a)Taxes or assessments that are not shown as existing liens by the records of any taxing authority that levies taxes or assessments on real property or by the Public Records; (b)proceedings by a public agency that may result in taxes or assessments,or notices of such proceedings,whether or not shown by the records of such agency or by the Public Records. 7. (a)Unpatented mining claims; (b)reservations or exceptions in patents or in Acts authorizing the issuance thereof; (c)water rights,claims or title to water. 8. RIGHT OF 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 NOVEMBER 17, 1902, IN BOOK 48AT PAGE 492. 9. RIGHT OF WAY FOR DITCHES OR CANALS CONSTRUCTED BY THE AUTHORITY OF THE UNITED STATES AS RESERVED IN UNITED STATES PATENT RECORDED NOVEMBER 17, 1902, IN BOOK 48,AT PAGE 492 AND RECORDED NOVEMBER 22, 1939, IN BOOK 123 AT PAGE 625. 10. RESTRICTIVE COVENANTS WHICH DO NOT CONTAIN A FORFEITURE OR REVERTER CLAUSE, BUT OMITTING ANY COVENANTS OR RESTRICTIONS, IF ANY,BASED UPON RACE,COLOR, RELIGION, SEX, SEXUAL ORIENTATION, FAMILIAL STATUS, MARITAL STATUS, DISABILITY, HANDICAP, NATIONAL ORIGIN,ANCESTRY, OR SOURCE OF INCOME,AS SET FORTH IN APPLICABLE STATE OR FEDERAL LAWS, EXCEPT TO THE EXTENT THAT SAID COVENANT OR RESTRICTION IS PERMITTED BY APPLICABLE LAW,AS CONTAINED IN INSTRUMENT RECORDED JULY 12, 1963, IN BOOK 175 AT PAGE 135 AND AS AMENDED IN INSTRUMENT RECORDED APRIL 23, 1965, IN BOOK 187 AT PAGE 195. 11. EASEMENTS, CONDITIONS,COVENANTS,RESTRICTIONS, RESERVATIONS AND NOTES ON THE PLAT OF BIGHORN SUBDIVISION,THIRD ADDITION RECORDED OCTOBER 4,1963, UNDER RECEPTION NO. 98059. ALTA COMMITMENT Old Republic National Title Insuran ceCompany Schedule B, Part II (Exceptions) Order Number:V50052229 12. CLAIMS OF RIGHT,TITLE AND/OR INTEREST IN THE PROPERTY BETWEEN THE NORTHEASTERLY BOUNDARY LINE AND THE FENCE AS DEPICTED ON THE SURVEY PREPARED BY EAGLE VALLEY SURVEYING, INC., JOB NO. 3525 WHETHER SAID CLAIMS ARISE BY ABANDONMENT,ADVERSE POSSESSION OR OTHER MEANS. 13. MATTERS DISCLOSED ON IMPROVEMENT LOCATION CERTIFICATE ISSUED BY EAGLE VALLEY SURVEYING, INC. CERTIFIED 5.3.17,JOB NO. 3525 INCLUDING, BUT NOT LIMITED TO THE EFFECT OF A PORTION OF DECK ENCROACHING ON UTILITY EASEMENT. SAID DOCUMENT STORED AS OUR ESI 32863910. 14. DEED OF TRUST DATED DECEMBER 22,2017,FROM RS2 LLC,A COLORADO LIMITED LIABILITY COMPANY TO THE PUBLIC TRUSTEE OF EAGLE COUNTY FOR THE USE OF ALPINE BANK TO SECURE THE SUM OF$3,000,000.00 RECORDED JANUARY 04,2018, UNDER RECEPTION NO. 201800185. NOTE:THE ABOVE DEED OF TRUST SECURES A LINE OF CREDIT. DISBURSER'S NOTICE IN CONNECTION WITH SAID MORTGAGE WAS RECORDED JANUARY 04,2018, UNDER RECEPTION NO. 201800186. IF" LAND TITLE GUARANTEE COMPANY DISCLOSURE STATEMENTS Land Title C(.AR arrv.r rsxaFW, -.Simrr 1117 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 fro mthe co untytreasurer of the co untyin which the real property is located o rthat co untytreasurer's authorized agent unless the proposed insured provides written instructions to the contrary. (for an Owner's Po licyof 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 fro mthe Board of Co untyCo mmissio ners,the Co untyClerk and Recorder,o rthe Co untyAssesso r. Note: Effective September 1, 1997, CRS 30-10-406 requires that all documents received for recording o rfiling in the clerk and recorder's office shall contain a to pmargin of at least o neinch and a left, right and bottom margin of at least o nehalf of an inch.The clerk and recorder may refuse to record o rfile any do cumentthat does no tconform, except that,the requirement for the to pmargin shall no tapply to do cumentsusing forms on which space is provided for recording o rfiling information at the to pmargin of the document. Note:Colorado Divisio not 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 co nductsthe closing and is responsible fo r recording o rfiling of legal do cumentsresulting fro mthe transaction which was closed".Provided that Land Title Guarantee Co mpanyco nductsthe closing of the insured transaction and is responsible for recording the legal do cumentsfro mthe transaction,exception number 5 will no tappear on the Owner's Title Po licyand the Lenders Po licywhen issued. Note:Affirmative mechanic's lien protection for the Owner may be available(typically by deletion of Exception no.4 of Schedule B,Section 2 of the Co mmitment fro mthe Owner's Po licyto be issued) upo ncompliance with the fo llowing conditions: (A) The land described in Schedule A of this commitment must be a single family residence which includes a co ndo miniumo rtownhouse unit. (B) No labor o rmaterials have been furnished by mechanics o rmaterial-men for purposes of construction on the land described in Schedule A of this Co mmitment 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 construction, improvements o rmajo rrepairs undertaken o n the property to be purchased within six months prior to the Date of Co mmitment,the requirements to obtain coverage for unrecorded liens will include: disclo sureof certain construction information;financial information as to the seller,the builder and o rthe contractor; payment of the appropriate premium fully executed Indemnity Agreements satisfactory to the co mpany,and,any additional requirements as may be necessary after an examination of the aforesaid information by the Company. No coverage will be given under any circumstances for labor o rmaterial for which the insured has contracted for o ragreed 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 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. JOINT NOTICE OF PRIVACY POLICY OF IF" LAND TITLE GUARANTEE COMPANY, � -Tt� LAND TITLE GUARANTEE COMPANY OF SUMMIT COUNTY «n0.MFr , �4 LAND TITLE INSURANCE CORPORATION AND s� �f3 OLD REPUBLIC NATIONAL TITLE INSURANCE COMPANY This Statement is provided to you as a customer of Land Title Guarantee Company as agent 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 assess 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. * * 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.ALL CLAIMS OR 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 STATUS OF TITLE.THE PROCEDURES USED BY THE COMPANY TO DETERMINE INSURABILITY OF THE TITLE,INCLUDING ANY SEARCH AND EXAMINATION,ARE PROPRIETARY TO THE COMPANY,WERE PERFORMED SOLELY FOR THE BENEFIT OF THE COMPANY,AND CREATE NO EXTRACONTRACTUAL LIABILITY TO ANY PERSON,INCLUDING A PROPOSED INSURED. THE COMPANY'S OBLIGATION UNDER THIS COMMITMENT IS TO ISSUE A POLICY TO A PROPOSED INSURED IDENTIFIED IN SCHEDULE A 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 Subjectto 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'S RIGHT 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 Identification Data,if any. (f)I nno 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 nany 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 I nsured 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 II—Exception does not constitute an agreement or obligation to 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 I nsured,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 WITNESS WHEREOF,Land Title I nsurance Corporation has 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 '} , `i Old Republic National Title Insurance Company,a Stock Land Title Guarantee .t Ner' * * y Company Company - * * 400 Second Avenue South 3033 East First Avenue Suite ` J * ; Minneapolis, Minnesota 55401 o 600 isi * '�n; (612)371-1111 Denver, Colorado 80206 ='° * * 303-321-1880 '�47p , ,`. {Z r1 - Mark Bilbrey, President President 43(2O1---- Rande Yeager, Secretary This page is only a part of a 2016 ALTA®Commitment for Title Insurance issued by Land Title Insurance Corporation.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 II—Exceptions;and 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.