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DRB080255
D-esi rg rol Revi evar Bala ir~d A~CTI~N i=0R1~1 ~~~~~ C~.ti.tJ}alrY Ct='v[Lllt L1Et1'~ RESIDENTIAL ADDITION (250 ORD) Project Name: ANGELO RESIDENCE DRB Number: DRB080255 Project Description: Participants: OWNER JOHN AND JUDITH ANGELO 07/01/2008 C/O ANGELO, GORDON, AND CO LP 245 PARK AVE 26TH FLOOR NEW YORK NY 10167 APPLICANT MAURIELLO PLANNING GROUP, LL 07/01/2008 Phone: 970-748-0920 PO BOX 1127 AVON CO 81620 License: 0000001697 Project Address: 352 E MEADOW DR VAIL Location: VAIL MOUNTAIN LODGE UNIT 303 Legal Description: Lot: Block: Subdivision: VAIL CLUB CONDOMINIUMS Parcel Number: 2101-082-5500-7 Comments: Motion By: DUBOIS Second By: DANTAS Vote: 5-0-0 Conditions: Department of Comrrounity Development 75 Sauth Fr©ntage Road, Vaif, Colarado 81657 tel: 97'0.479.2139 fax; 970,478.2452 vaeb; www.vailgov.com BOARD/STAFF ACTION Action: APPROVED Date of Approval: 08/06/2008 Cond: 8 (PLAN): No changes to these plans may be made without the written consent of Town of Vail stafF and/or the appropriate review committee(s). Cond: 0 (PLAN): DRB approval does not constitute a permit for building. Please consult with Town of Vail Building personnel prior to construction activities. Cond: 201 (PLAN): DRB approval shall not become valid for 20 days following the date of approval, pursuant to the Vail Town Code, Chapter 12-3-3: APPEALS. Cond: 202 (PLAN): 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. Cond: CON0010214 Additions-Residential or Commercial Application for Design Review .~ ~~~~+~': ~ Department of Community Development t 75 South Frontage Road, Vail, Colorado 81657 te1:970.479.2128 fax: 970.479.2452 web: www.vailgov.com General Information: All projects requiring design review must receive approval prior to submitting a building permit application. Please refer to the submittal requirements for the particular approval that is requested. An application for Design Review cannot be accepted until all required information is received by the Community Development Department. The project may also need to be reviewed by the Town Council and/or the Planning and Environmental Commission. Design review approval lapses unless a building permit is issued and construction commences within one year of the approval. Description of the Request: 250 Addition to Unit 303 at the Vail Mountain Lodge Location of the Proposal: Lot: Block: Subdivision: yail Mountain Lodge Physical Address: 3s2 E. Meadow Drive Parcel No.: 2loloazssoo7 (Contact Eagle Co. Assessor at 970-328-8640 for parcel no.) Zoning: Public Accommodation Name(s) of Owner(s): Mailing Address: New York, N Owner(s) Signatures Name of Applicant: _ John and Judith Angelo ~~O~iA Belo, Gordep~n, and 10167,E .r ~; ,~Cson Kent, Maurkello Pl Mailing Address: p6 sox llz7 Avon, CO 81620 Phone: 970-390-8530 E-mallAddreSS: allison@mpgvail.com FdX: 970-748-0377 Type of Review and Fee: ^ Signs ^ Conceptual Review ^ New Construction [~ Addition ^ Minor Alteration (m u Iti-family/commercial ) ^ Minor Alteration (single-family/duplex) ^ Changes to Approved Plans ^ Separation Request Paid: Use Only: $50 Plus $1.00 per square foot of total sign area. No Fee $650 For construction of a new building or demo/rebuild. $300 For an addition where square footage is added to any residential or commercial building (includes Z50 additions & interior conversions). $250 For minor changes to buildings and site improvements, such as, re-roofing, painting, window additions, landscaping, fences and retaining walls, etc. $20 For minor changes to buildings and site improvements, such as, re-roofing, painting, window additions, landscaping, fences and retaining walls, etc. $20 For revisions to plans already approved by Planning Staff or the Design Review Board. No Fee _ ~ / By: ng Date: DRB No.:~ er: Project No.: )DINT PROPERTY OWNER WRITTEN APPROVAL LETTER ~a~oFVAr~ 1 /~ ~t f /~c' ~~ o,/ I, (print name) V~'~~ ' /~~`fi~Lr~/~~' ~u1~'~ , a Ioint owner of properly located at (address/legal description) 3 provide this letter as written approval of the plans dated ~~~~/ ~ ~ which have been submitted to the Town of Vail Community Development Department for the proposed improvements I further understand that minor modifications may be made to the plans over the course of the review process to ensure compliance with the Town's applicable codes and regulations. 4 ~ ~~ (Si ture) (Date) Page 2 of 12/06/18/08 to be completed at the address noted above. I understand that the proposed improvements include: r ~~ Maurlsilo Ptartning Graup Angelo Housing Plan The Angelo Residence will be adding 250 sq. ft. Based on the requirement of 10% of the net new GRFA, the total requirement is 25 sq. ft. Because this is only a fraction of a unit, the Angelos will be meeting the requirement through fee-in-lieu . Calculation: 250 sq. ft. x .l 0 = 25 sq. ft. Fee-in-lieu: $301.65 per sq. ft. 25 sq. ft. x $301.65 = $7541.25 The fee-in-lieu will be paid at building permit. TOWN OF VAIL, COLORADO Statement Statement Number: 8080001072 Amount: $300.00 07/01/200801:29 PM Payment Method:Credit Crd Init: RLF Notation: ALLISON KENT 001692 ----------------------------------------------------------------------------- Permit No: DRB080255 Type: DRB - Addition of GRFA Parcel No: 2101-082-5500-7 Site Address: 352 E MEADOW DR VAIL Location: VAIL MOUNTAIN LODGE UNIT 303 Total Fees: $300.00 This Payment: $300.00 Total ALL Pmts: $300.00 Balance: $0.00 ACCOUNT ITEM LIST: Account Code Description Current Pmts -------------------- ------------------------------ ------------ DR 00100003112200 DESIGN REVIEW FEES 300.00 A~ i - - - - - I ~o ooo~ I Q I I I I I I ~N ~ Q I I I I I I n of Q ~S ac Q 3~ ~m Q I c _ _ -.- I_._.-.~._.-I- - - _ - -0 O Am Q ~ ~ 1.' ~.1 D _ a _ --- - I - - -- -- Q ~ I ~~ Q $. N ~_ w ~c~ Z_~ ~~ I I -0 r <n ny n ~ I Q "~ ~m Q rm ~~ M~opoo 00000 oc oo qy ~~-~ -.i-. .-.-.-.-~jj o9m Q ll U ® Q ~ I Q I ~ i D _~ ~ Q _ i_ _ ~: i_. _._ _ -0 Q U I 0 ~ i _ ~ I p r ~ 0 0 Q i oom ".PE Q I -0 Q ~E O~ Q I nE i.~ Gy u §~ I m~A u --~ I ~E Q ~ I ~ I 0 :~~ U ~ ~~ I D ~ ' i ~ I I << `T' Q on ~~ - Q ~ o000 ~ ~~~_ -~ a ~ ~ ~ E ~ a m - __ u Ay a 0 0 p - ~ ~m Q Q [~ ~~~ M~~~ n m m? np mn 0 0000000000 ooooe~ __ ~ ~~ - ^ o ~ -_-.--0 0 -.-._ -0 ~ ~ ~ c ~ I I _._ I -.- _.-0 ~ _ _ I J A O O _ ~ ~ _ W w ~--1 W I -O ~ e N I I 1 I N ~ N I I I N I O O II O -i b ~ _. _ ~ = I f rn ~ .. i I 1---- ---0 ~ I D I ~_ r O } i I _ i_____ O- - --- n z_ i I i I I -0 z ~ _ ~ ! i- i i i D ~® ~ i i i i ® I ~i I i D I ~i i i i III i i i i Q n o 9 o m W o m ooov8°°° _ o ~ ~° ~ s Grand Annex D"> -o~° ~~~~~ o~Q? oo ~~~ OG) ~ as ~~o-- Nn~ Qo~~ nN' df~ ~ a Z nnnnnn Vail Mountain Lodge, Vail, Colorado ~~ an`-° o °1900 m ~ ~ n s ~ ° <mmmm,~,~m° ~m a>~ - $m? .C(o c ~ R ~~~~~~~~ ~o «~ ~~ N~. .T n ° Gl ,7 i)L7 G)6)Gl `~~' 33 oN .~ J 12-7A-6 12-7A-6: SETBACKS: In the PA district, .the minimum front setback shall be twenty feet (20'), the minimum side setback shall be twenty feet (20'), and the minimum rear setback shall be twenty feet (20'). At the discretion of the planning and environmental commission and/or the de- sign review board, variations to the setback standards outlined above may be approved during the review of exterior alternations or modifications (section 12-7A-12 of this article) subject to the applicant demonstrat- ing compliance with the following criteria: A. Proposed building setbacks provide necessary separation between build- ings and riparian areas, geologically sensitive areas and other environmen- tally sensitive areas. B. Proposed building setbacks comply with applicable elements of the Vail Village urban design guide plan and design considerations. C. Proposed building setbacks will pro- vide adequate availability of light, air and open space. D. Proposed building setbacks will pro- vide a compatible relationship with buildings and uses on adjacent prop- erties. E. Proposed building setbacks will result in creative design solutions or other public benefits that could not other- wise be achieved by conformance with prescribed setback standards. (Ord. 29(2005) § 24: Ord. 23(1999) § 1: Ord. 50(1978) § 2) 12-7A-7: HEIGHT: For a flat roof or man- sard roof, the height of buildings shall not exceed forty five feet (45'). For a 12-7A-9 sloping roof, the height of buildings shall not exceed forty eight feet (48'). (Ord. 23(1999) § 1: Ord. 37(1980) § 2) 12-7A-8: DENSITY CONTROL: Up to one hundred fifty (150) square feet of gross residential floor area (GRFA) may be permitted for each one hundred (100) square -feet of buildable site area. Final determination of allowable gross residential floor area shall be made by the planning and environmental commission in accor- dance with section 12-7A-12 of this article. Specifically, in determining allowable gross residential floor area the planning and envi- ronmental commission shall make a finding that proposed gross residential floor area is in conformance with applicable elements of the Vail Village urban design guide plan and design considerations. Total density shall not exceed twenty five (25) dwelling units per acre of buildable site area. For the purposes of calculating density, employee housing units, accommodation units and fractional fee club units shall not be count- ed towards density. A dwelling unit in amultiple-family building may include one attached accommodation unit no larger than one-third ('/3) of the total floor area of the dwelling. (Ord. 29(2005) § 24: Ord. 5(2003) § 4: Ord. 31(2001) §§ 3, 5: Ord. 23(1999) § 1: Ord. 50(1978) § 19: Ord. 12(1978) § 2) 12-7A-9: SITE COVERAGE: Site cover- age shall not exceed sixty five percent (65%) of the total site area. Final determination of allowable site coverage shall be made by the planning and environ- mental commission and/or the design re- view board in accordance with section 12-7A-12 of this article. Specifically, in determining allowable site coverage the Town of Vail September 2006 E 0 O y N O 1-•~1 c~ ~ ~ t"'~ ~~~ .o ~ :°. r N O cn zv~ ° o ~ N A O ~a~ ,~~ a ~. c 3 Z W rn •A :(1 N Z v~ 0 W D mm /` .~ QN V ~ I ~'~ 4, s~"~ ~w C~ oti ~~ ~~ o ~~ p -+ ~- ~ ENO (11 cn z v ~+ °o ~ N3 c ~ N r~+ O ~ ~ ~ OD ~ D ~ ,~~ a ~. c 3 dog ~1e~ a Vi :Z1 ~ ~ ~~ ~ a N ~~ N C ;~ ~~ w 3 oNO' ~G! 7j i ~3 m m v m D r D Z ~A m a O 0 i ~~d ~~ a o r~* i v_.._.A a~ O G Z jo :°m r ~ Z #~ l ,., ~g I °a ~ 1 M ~~ '7 ~E15~ O~A~PHALf - -...- ~. ~. - -- - - _ - ~ ~ O U G 0 lO' 7.3' ca ~ ^: z 8.3' a a ~ O 1 z C u r n~ 15.6' ~ V } P t ___ ,_ _ - - :- -~_ 0 8 ~...._.s., ~ -- . I~ I~ ?~ QQ ~i O I~ m I' A C N rn ~ I~ ~ D r- O ~_ ~s ~ N O (~.i Cfl '~,'~ (Jl C ~ ~ ~ o ~ pp o c ~ t ~ JAN ~ w m c~ D a ~ ~ ~~I ~,~cn _ z ~ ~~~ ~ ~ r ~~ ~ I' ~` v ' 3 O m I~ oww I o7~-3co Nw~ a~m~Q ~ '" ~o~ z o-~ 3 ' ~ PI' 1 0 ~ 7 w ~ 1 i~ ~ 7 Q g G N I ~ o n' r'-- ~ r C '• a ~ ~ ~ z / D.98 aroo ~ ~ ~ ~' a ~~ V i ? A 0 ~ ~ ~Q ~3 ~ Z ~ .. ~~~ ,~ ~ ~- _ C _ v W N t~G ~. _ ~s.z' - - j O ~• r w r vJ ^a ;" N z r°n o ?= W~~'V o co Nl~ f° w ° F N~ m3 w ~j~ N n O ~ ~ n\ rt ~ F' C O ~ A ~ N ~ yW fi OD p ~ A ~ ~ n ~ 7 ~{ ~ ~ • ~ O 3 -,, ~ p ~• t ~ = ~ o ~, K f 'o. o ~` C oc~D 1 ~ a ° ~ Z , ~r ~ o ~' b •I ~~ ro.4 C,O ImTIZ~ ',~zs' ~ ~ o=o u a ~ ~ n ' cn~~ m ~ b' o r spSCJ m ~A N i ~=Q QQ. N ~r ~ O ~ ~ 5~~ fi Q m ~~ W 3~ ....~' .,.___... Z O C v ~ OQ ~ ami c°'n Z v G J ~ ~ .~ N .~~ ° r 0 N s• O -o C p tT ~ 3 Y N Q ~ ~ D 1 1 ~D~ ~~ a ~. V ~ 3 -inn r~ ~D II II N = .. pp W W NZ O 00 (17 U1 GI W Q W ~~I tJ1 (~1 ~ ~ ~ ~ 0 .~ O ' O .9'L ~ \~ ~ a i ~ ~ ~ ~ ~ ~ r\ N ao ~ ~ , ~ jr • ~ ~ . \\prl VI ~ n ^s \~ n \~ ,ab° ~~ ONO c ~ ~ ~ ~~ ~~}~'~ ~ ~ . ~ 3 ~ ~ v\\ . ~ `b ~Q ~ ~' ~ . _, c ~° ~ IV ~ Q Y '+ 7 n ~ 3 3 3, _r.M1~~11ra._ ~ ~ G ~ ~ C7 ~ '_'~ ~ ~ Tao ~ Z ~ ~~ ~1 ' ~ O ~ ~ .~ ~„ (~ a t0 Q A Q C 5 a c t i 1 tax scent by 'LiZ8671545 AFiGELO GORDOM 09-11-07 10:46 Pg: 1/16 Land Title Guarantee Company Date: March 21, 2007 JOHN M. ANGELO AND JUDITH H. ANCrELO CIO ANGELO, GORbON & CO., L.P. 245 PARK AVEN>,JE, 26TH FL,QQR NEW YORK, NY 10167 Enclosed please rind the title itt.5nrance pnticy far your property Located at 352 H. MEADOW DR. AKA UNIT B VAIL MOUNTAIN LODGE VATI.. CQ $1657 Tlie following etuiorsements are included in this policy: SEE ATTACI~D Phase rtvicw thi`~ policy in ire entirety. ]n the event that ynu find any discrepancy, or if yqu have any questionti regarding your final title policy, you may wntaet Title Department _____ _ _ Phane:970-476-2251 Pdx:970-476-4732 Please refer to our Order No. V5001.7690 Should you decide to sell the property described in dais policy, or if you are required to purcha~ a ntw title counuitment for mortgage purposes, you array be entitled to a credit toward future title insurance prerniun~.~. Land Title Gwaraartee Curnpany will retain a Copy of this policy so we will be able to provide ti,ture producGc and services to you quickly and effrciczatly. Thank you far giviti~*. us the apportuzlity t0 serve ytiu. Sincxrcly, Laud Titlc Guarantc~ (~oirypany _ __. _..... _ ..~ ,..a,..........., .., nnara.~ a~nYUn tly-11-b f ltl :4 ( Yg : L/16 i~. Date: March 2] , 2007 Order Nn. V50017690 The following endorsements are included in this policy: Deletion of Exccptaoz~s 1-3 Deletion of General Exception 4 C.umprehensive l A Endorsement Endorsement E~rdor,;emcnt Alta 8.1 Endorsement 100.3 t rax sent by Li"Llib'11545 ANGELO GORDON finferican Lund Titlb~ Assoriutir~n f~jV~BR'S POLICY (1 D-17-92) CHICAGQ TITLE YNSURANCE 89-11-f~7 16:47 Pg: 3/16 COMP.A-~T'Y SUBJECT TO THE EXCLUSIt7N5 FROM COVERAGE, THE EXCEPTIONS FROM COVERAGE CONTAINED IN SCHEOLRE B AND 7fE CONbIT1ON5 ANb ST~ULATIONS, CHICAGO TITLE INSURANCE COMPANY, a fAissetri corporation, henin caged the Cehpany, insures, as of DatA of PAlicy shows in Schedule A, against bss er damage, not exceeding the Amount of Insurance stated b Schedule A, sustained ar incurred by the instead by reason af: 1. Title to the estate ar interest described in Schedule A being vested othertfian as stated therein; 2. Any defect in or lien or encumbrance on the title; 3. Unmerketebpdy of the title; 4, Lack of a right of access to and from the hrtd, The Company will also pay the coats, attorneys' teas and ex/enaes incurred in defense of the tltk. ea insrred, but only to the extent provided in the Conditions and Stipulalionr. IN W17ta1=55 WHEREOF, the said CHIC0.6O TITLE INSURANCE COMPANY has caused tkis policy to be signed and sealed as of data of Policy shown in Schedule A, the policy to become ralid when countersigned by an aelhorizad signatory. EXCLUSIONS FROM COVERAGE The folowing matters are expressly excluded from the coverage of this poky and the Company wr net pay loss ar damage, rosts, attorneys' fees or expenses which arise by reason of. 1. lal Any law, ordinance or governmental regulation (indud'atp but not -rnited to bailding and coning laws, erdieanses, or regulations) reMricting, regulating, prahrLhing ar relating to li}the occupancy, use, of enjo}nnent of tlw lead; Gi11be character, d'ensnsiosa or lotatien of any improvement now or hereafter erectal on the land: fiii} a aelaration in owrership era change in the dimensisna or area of the lend pr anY parcel of which the land W orwas a part; er livf environmental pratettioo, or the effect of any violption of these lowq oriinenros orgoyernmentel re~pations, except to the extent that a notice of the anfaresrttent thenof or a notice of a defect, lien or encumbrance nsuking from a vioFetion or dleged vidalion affediny the land bas been retarded in the pubbc rccards at Date of PoGcY. {b) Any govemmeatal polite pewar hot excluded by ie} above, except to the extent that a notice of the exercise thereof or a notce of a detect. Lien or encumbrance resaltutp from a vioktion or albgei rialatos affecting the land has heap recorded in tfie pubhcrecerds at bate of PDGey. 2. Rphte of aninent sanain unless notice of the sxereise thereof bps Ices recorded in the public records at bats of Polcy, but not extludiny from coverage any taking wbich has occurred prbrta Date of Policy which would be binding en tlo rights of a purchaser for value wdhoet knowledge, 9. DefAtta, fans, encumbrances, adverse claims, ar otharmattere: {al created, rtffered, assumed or agreed to by the insured cleknent (b1 not knows to the Company, not recorded in the public records at Date of Pclley, but knows to the intarcd daintest end not diaebaed in writing to the Company by the insured daimant prisrta the date the insured claesenl became an insured ender this policy; (cl resulting in no bss or damage to the insures steiment; {d} attaching or created subsequent to Date of Polity; ar {el resulting ro loss or damage which would not have been wstained if the insured cbbnant bed paid value far the oata-e or interest insured by tbis policy. S. Any clam, which arises out of the transaction vesting in the Insured the estate or ietereat nsu'sd by this policy, -y reason of the operation of federal bankruptcy, state issoNentry, ar shniler cresiton'rights taws, that is based os: ft} the transaction aeating the estate or interest insured by this policy Ueing deemed a fraudulent conveyu+ce or fraudulent transfer; or fn) the transaction creating the estate or interest btsured by this policy being deemed Irefercntiel trander except where the pnferenthl transfer nsuhs from the failure: cal to timely record the instrument of transfer; or @? of such ncordatae to impart notice to a purchaser for value or a judgment or lees aeditor, Issued through the Office ot: lAN6 TITLE GUARANTEECOMPANY 1 D8 S FRONTAGE RD W ri2D3 VAII, Cb 81657 97G•d76.2251 _m, . Authorized Signature CHICAGO TITLE INSURANCE COMPANY ~ ~~~ r,....m,,'~N~R ~trasu ~~I 1 ~'~~~' c°i~~~p~~f~ :v y{ i~ '~.... * * *~~ AO.CHI tFOrm 8256) Cover Page I of 9 Fax sent by :2128671545 ANGELO GORDON 89-1i-87 18:47 Pg: 4/16 coft01TI0gs ANO STIPULATIONS 1. Oefinitian of Teens. The foU- awing terms when ttsed in tlr~ Policy mean; fa} "neared": the insured named in Schedule A, and, subject to say right: or defenses the Company would boon had against the vaned insured, those wko succeed to the interest of the named insured by operation of law a: datetguiehed Irom purchase incbding, hm not knifed to, heirs, distributees, derisees, survtvers, personal repnaentatives, next of kin, or carperate arfidadary succettors. {b} "insured Clamant": an insured classing lass ardamage. {c) "knotvkdga" er"known":actual knowledge, not constructors knowledge of notice which may fe imputed to an iasund by reason of tho public records as dofinai in thin policy or any other records wbieh impart canstruclive notice of matters affectng the land. td} "lead":the land desrnbed or referred to of Sehedute A.and krtprorement: affoced thereto which by taw constitute reel property. The tern 'land' doss not include tiny proportY beyond the lirws of the area described or referred to in Schedule A, nor any right, title, inlerast, estate or easement in abuHing streets, roads, aranuea, alleys lanes, ways or waterways, but nothing heron shaamodHy or limit the extent to whidt a ryht of access to aad from the land is insured by this policy, let "etongage"; mortgage, dead of trust, trust deed, or ether leerily instrument. lf} "pubGt retards": records aslabl'rdted under slate statutes at Date of Policy far the purpo:e of imparting constryctive notice of matters rotating to real preparty to purchasers for value and without knewkdge. With respect to Section 1{akiv} of the Exdtrsionsfrom Coverage, "public reeordo" ehaN oleo include enviroereantal protection liana filed in the reeards of rho dark of the Ueited Stataa dirtrict court for the diatrint in which the land is located. fp) "unmarketabilry of the title"; an ageged or apparent matter affecting rho thla to Iht lend, not oxtPoded orexcepted from coverage, wkich would amble a purchaser o} the estate or merest described in Schedule A tp be released from the obllpetion to purchase 4y virture of a cantractuat condition requiring the delivery of marketable title. 2. Continuation of Insurance After Canrevance o} Title. the fogawing coverage of this policy shag continue to force es Ot Oale Of Policy iri tarot of as insured only sa long as the insured retains an estate or a,t,nst in the land, or hold: an indebtednett seared by a purchase money mortgage givdti by a purchaser tram tM insured, or only ao long as the insured shall here liebf&y by reason of covenants of warranty made by the insured in any troasfa arconveyaace of the estate or interest, This policy shall not continuo it farts in Leone of soy purciaaer fron the assured of eitker $}an estate orinterest in the land. oriid an indebtedness secured by o purchase money mortgage givtn to the snared 3. Notice of Claim to ba Given by Insured Clamant. The itsured steal entity the ConpanY promptly in wrilirtg G) in care of any liti~tion as sat forth in Section 4fai below, G? in case knowledge shah coma to an incurod hereunder of any Haim of title or interest which is adverts to the title to the estate Ot interest, as insured, and whidr might cease lass or damage forwhic4 the Company may be liable by virtue of of shit poling, or Lill ff title to the estate or interest, as insured, is rejected es erenarketab4, If prompt notice shall rat he given to the Company, then at to the insured aN liability of the Company sleep laminate with regard to the matter or matters ferwhieb prompt notice is required; provided, however, fleet failure to notify the Cattpany shat n na case pnjudia the rights of any insured udder this pasty unlett the Canpaay shall bo prajudiad by rho fallen and then only to the extent of the prejudice, 4. Defense and Praseoutian ei Actiem; Duty of Insured Claimant to Caeperete la)Upan written requtst by the insured and subject to the optieru contained in Secrian 8 of these Conditions and Stipulations, the Company, at itt own cost and without unreasonahb delay, shall provide far tke the defaeae of an insured in litigation in which any lh~d party asserts a Haim 8dverse to the title or interact es insured, but only 8s Eo those stated causes of action alleging a defect, lien oreecumbrance or other matter insured against by this policy, The Company shall have the right to aelact counsel of its choice fsub~rcl fo the right of the insured to abject for reasonable causes to represent the scoured as to those stated causes of action and steal not 1e liable for and wdl not pay the fees of any other cauasel. The Campatty willnot pay any faas, costa orexpeneas mcurnd by the insured in Iho rbfanse of those causes of action whicA eMege matters not insured egavrst by thin pabcy. mi The Canpeny steal lave the +lght. at its own cost, to instnete and prosecute any action or praceedinp or to do any otheract which it its opinion may be necessary er desirable to estaHbh the titb to the estate or interest, as insured, ar to prevent or reduce loss or damage to the insured. The Company may lake any appropriate action under the terms of this policy, whether ar not it shah be cable hereunder, and shah eat thereby concede liability orwaive any provision aF this policy, If tM Company:heae:erdse ire rights under this paragraph, it shall do so dTilentry. Ici Ylhenaver the Company shah have brought an action orinterposed a defense as nquFed or permitted by tke provisions of this policy, the Ctpnpany may pursue any litigation to final determination by a tours of competent jurisdiction and axpressy reearvea Ilia right, m its sole discretion, to appeal 1rem any adverse judgment or order. Idl1n all case: wkere the policy pemita or requires the Company to prosecute ar provide fortke defense of any action or protxed'mp, the insured shall secure td the Company the right to so prosecute or provide defense in the action or proceedinq, aad all eppeab thereie, aad permit the Company to use, alto option, the name of the insured for this purpose. Whewver regtteatad by the Company, the insured, at the Company's expense shah give the Company all reasonable aid {a in any action or proceeding, setwring evidence, abtaeing witnettts, prostituting ar lefending the action or proceeding, or effecting settkrxent, and Gi) in any other lawfel act which in the opinion of the Company may be necessary or tksireabie to eatableh the title to the estate or interest as ktsured. if the Compazry a prejudicol 4y flee failure of the insured to furnish the required cooperation, tke Company's abligatioris 10 rho inland under the policy shall terminate, including any pabilty er obligation to defend, prosecute, or continue any III'tgetian, with regard to the matter or matten regaining such cooperation. 5. Proof of lottor Demean. In addition to and after the notices required under Section 3 of these Conditions and Stpulations have been provided the Company. a proof of lass or damage signed and rwom to by the insured dement shall be futnihed to the Company whhin 90 days after the insured claimant ahak ascertain tke facts giving rise to the bee or damage. The proof of lost or danape shall describe the defect in, er lien or encumbrance an the title. a other matterinsend zgainsi by skis pokcy vahich constitutes the basis of loss or damage and shall atata, to the extent passible, the koala of calculating the xnoont of flee lass er damage. If eke Cunpanp is prajudiwd by tke failure of the insured claimant to provide rho regaled proof of lass or damage, tke Cwnpany's ab4galions to the insured under the policy shag terminate, including any Gabilty or obligation 1o defend. prosecute. or Continue any litigation, with regard to the matte ormatterr requiring each proof of loss erdamege. In addition, the insured claimant may roasonaby bo required to submit to exffininetian under oath by say authvrsed npresaniative of the Company and shall produeo for examination, inspection and copying, at each reasenahb times and places asmay he desynated by any aulhorRed representative of rho Camparry, all records, books, ledgers, checks, correspohdehte and tnemoronda, whether bearing a date before or after Date of Policy, which reasoneWy pertain to the loss or damage. Furtker, rf requested by any authorised npnsentative of thti Company. the insured clamant akaq grant its permiesioa, in writing, for any eulhoraed reprosemetire of the Company to examine, inspect end copy ell records, books, ledgers, cheake, co-rrerpoadease and memoranda b the custody ar control of a thud party, whiufr reseonahiy pertain to the loss or damage. AN information decignatod as confidential by the Insured dement provided to the Company pursuant to this Section etatl eat be 6sclosed to Others unless. lathe reasonable judgment of the Company, it ie necessary in the administration of the tlavn. Failun of the insured claimant to submit for examination under oath, produce other reasonably ngttetted information er grant pennistien to secure roesonaDly necessary informatbn from third parties an required in this paragraph shall Iertalnate tiny 6abiiry of the Conpany under Chia policy as to that claim. $. ~ptiona to_P v or Othanvise Settle Clairtsj Termination of Uability. In case of a clam antler This poky, the Company shall hate flea folbwinp additional options: {a) To Pav or Tender Paymant of the Amount of Insurance. TO pay extender payment of the omelet of ineuranu underthia policy together whh any costa, attorneys' foes and expenses incurred by the insured claettant, which were autheraed by Iho Company, tip to the time of payment or tender of payment and which the Company is ohggated to pay. Uponthe exercise by the Company of this option, all liability and abligationa to the insured under this policy, atherthan to make payment required, shall terminals, including say Mabiity or obligation to defend, prosecute, er continua any Ikigatiota, and the policy shall be surrondarod to the Company for canceAation. tb) To Par a Otherwise Sattla With Parties Other TAan flee tnsund arWgh the Insured Claimant, ii} to pay or otherwise settle With other parties for or n the name of an Insured elaiment any close insured against under this policy, fogetherwith any costs, attorneys fees sad espenaea incurced by the msrtred claimant whkh wan authored by the Company up to the lime 1f peYmeat and which the Company is abggaled to pay; of r} to pay or otherwise aeltle with Iho insured clamant the foss or damage provided forunder this policy, together with any costs, attorneys' fees andexpenses ncumd by the insured Ckrnant which ware authorized by the Company up to the time of payment and which the Company is obligated to paV• Upon the exereiaa by Iho Company of either of Iht options Drovtdel for in paragraphs fbjli) or i}, the Company'o ohlryatienc to the insured antler thispolicy forthe claimed bas or damage, other than tka payments required to be made, shall terminate, inctudinp any Nabilhy or obagetian to defend, proaecuta, or eantinu¢ any litigation, At).CHL2 Cover Pape2of3 r'ax sent by 'LiZ8671545 AMGELO GORDON 1. Detemwtatioh.6rteot of liahilify and Comsrxance, This polity & a contract of nlemnity agaeat actual monetary bss or damage sustained oriscunad Ay the neared tlaitam who has suffarnd lea ordamage by reason of matters insured apeiest by this policy and only to the extent herein destr3ed. (a) The IkbtTrty of the Company under this policy shah not exceed the least of: Glthe Amount of Insurance stated is Srfiedule A; or, ink the difference between tle value of the insured estate orimerest es insures and the value of the insured estate or intend subject to the defect, Ike or encunbrence insured against by this poicy. !6i In the event the yuoeunt of Insurance stated b Schedule A at the pate of Policy is lass than 80 percent of the value of the intend estate ar ietenst orthe fuA tantddenlion paid for )fie land, whichever is lea, er 8 suhseauent to the bate of Polity as inpreremerrt is erected on the land which inereasea the value of the insured estate or ettereri by at least ZO percent over the Arneunt of lnsurance stated in sd+edule A. tAen this policy is subject to the foiowinp~ (il where no tubsaqueat improvement hoe bean made, as to any partial lose, the Company sAaU only pay Ilia less pro rata n the proportion that the amount of insurance at Date of Policy bears to the total value of tfie insured estate ar interest at bate of Policy; or Gilwhae a robsequent improvement hasbaenmade, astoany partial loss, the Comparry shat only pay the loss pre rata n the proportion that 120 percent o! the Anauat of Insurance stated in Schedule A beers to the sate of the Amount of Insurance seated is sdreduk A and the amount expended for rho mprovemeet. The pravisiona of this paragraph shat sot apply to casts, ettemeyi fees and expenses f or which the Company is sable under this policy, and ehaa only apply to that portion of any loss which exceeds, ie 1he aggregate, 10 percent of the Amount of insunnte stated in 5chadule A. Ic! the Company will pay osh(those costs, attomeys' fees and expenses incurred n accardenre vrdh Section 4 of these Condttiaes and 5tipelations. 8. Anoortionment. 11 the land described is Schedule A censitts of two ormon parcehwhlcl In sot used as a single site. sad s toss is established affecting one ermore of the parrots but not aN, rho bts shall be computed and attkd on a pro rata basis as if the amount of inauranrs under this polity was divided pro rata as to the value en pate of Policy of tech separate parcel to the whole, exclusive of any improvements made subsegwnt to Date of Polcy, unless a IiaDUity orvalua has othervrise been agreed upon a: to sash parcel by the Company and the inaered at the time of the iseuasce of this poicy and shown by an express statement es by en endorsement attached to this Dolcy. 8, Limitation at Liablity. tai tf the Company establishes the title, or ttvnores the aieged defect fkn or encvmbrance, or cures the tact of a right of accessto orftom the fend, or cures the claert of unmarketabiity of title, all a: insured, in a raaaonahly diligent raaneer by any method including itigatien and the canpletion a} any appeals therefran, it shei have fuiy performed its ebipatians will respect eo that molter and shall not be liable for any loss or damage caused thereby. Ib1 In the avant of any Ipigation inducting itipatmn by the Coerpany ar with Ilia Company's cons®tt, the Company shad have no habiity far baa or damage anti then lea hose o final detem+irtation 6y a court of competent jurisdiction, end d~positian of all appeals there>han, adverse to the trtk as neared, (c}The Company shah not be table far lass or damage to any insured for liahity roluntan'Ff seamed by the insured in settf'mg any claim er suit whhovt the prior written consent of the Company. 10. Reduttien bf lasuraece: Reduction or Termirrelien of Liabiity. All payments ender this poicy, except payments made for costa, attorneys' fees and expenses. shell reduce the arnoent of the insurance pro lento, 11. Liabiity Npncttmulalive. It is exprosdy understood that the amount at insurance ureter this policy shall be reduced by any amount the Oompany may pay ender aey polity nearing a mortgage to which exception iatakan in Schedule 9 or to whicA the insured Ass agreed, nttutmed, or token subject, orwhich is hereafter executed by ea neared and which le a charge or lien oe the s=tate ar interest dascr~ed ar referted to in Schedule A, and the amount so paid stet he deemed p payment under tlis policy to the insured owner. t2, Payment of Las:, tai Na payment shall be made wRhont producing this policy for endorsement of the payment unless the policy ha:been loll ordeztreyed, inwhich lase proof of loaf of destnction shag he famished to the satisfaction of Ilia Comparry. IblYfhen 6ahiity end the extent of loss or damage bas been definitely fixed in accordance with these Cenditiant and Stipuktions, the loss or damage shell be payable within 30 deYS thereafttr, 89-11-97 18:47 Pg: 5/16 13. Subrogation Upon Payment of Settlement. (ai The Cotneanv's Rieht of SubroAetion, Whenaverthe Company:hat have attkd and paid a clam ands this policy, ell ripAt of subrepatfon sled vest is the Company unaffected by say act of the ineund claimant. 1'he Company shall ha ouhrogated to and be entitled to ell rights errd remedies which the insured daimant world have !ad against any person or property in respect to the claim had this polcy not fxen issued, If requested by the Company, the insured olabnant slat transfer to the Conpaay ai rights and ramed'es against any parser or property necessary Atorderto perfect this right of subrogation. The enured deimant shaApermh the Cemparry to sue, compromise ersettle in the name of the insured dainant and to use the name of the insured clement in any transaction or Gtigatisn jnvolving these rights or nmed'us. If a payment on accouet of a clahn does not tufty cover the loss of the inroad dairttaet, the Campeny shag Ds sebragated to these rights and remedies in the proportion whbh the Company's payment bears to the wAoEe amount of the loss. If bss sfrould Heart from any act of the insand daimant, as stated above, that act shat sot void Chia policy, but the Company, in that event, :hall he required to pay Daly that part of any losses ineund against by this policy which shall exceed tla amount, if any, bti to the Company by season of the bnpainneet by the ineund clamant of tM Company's right of subrogation. Ib?The Company's Rights Against Non~sured Obligoro. Tle Company's right of subrogation against non•insund obligors shall exist and shop include, without lbnitatioa the riplrto of the insured to indemnities, guaranties, etherpeidn of insurance or bands, notwahataedng any terms sr cenditiarts contained in these inttrunients which provide for sobrogation rights by reason of this policy. tA. Arbitration. Unless prohibited by applicable 4w, either the Company or the insured may ~mand arbitration pursuant to the Title Inrorence Arbitration Rules of the American Arbitration Association, Arbitrable matters may incude, but are not Imded to, any controversy ar daen between the Company and the insared xissg out of orrelatng to This Doiry, any service of the Company in connection with its issuance or the breach of a patiey provision a other obiyation. AN atbitrabk matters when Iho Amount of tnautance of S1,QDO,000 or loss shag be atbitroted at the optbn of either rho Company er the instred, All arbNrable matters when the amount of Insurance it in excess of S1,000,ODO shall k arbitrated only when agree) to by bath the Company and the insured. arbitration purseanl to thispoAty and uederths Rules le effort on the date the demand forarbdretion is pads or, at the spoon of the insured, the Rules in alfact at Data of Policy shall be Aind'otp upon the varties. The award may incude attomeys' fees only if the laws of rho state in which the land'ts located permit a court to award ettomey's fees to a prevailing paAy. Judgment upon the award rendered by the Arbitratorbl may 6e entered n any court having juriadidian thenol. The law of the sRus of the lend shell apply to en arbitration under the Title Insurance Arbitration Rules, A coDY of the Rules may be obtained fran the Company upon request. 15, Liability limited to this PoAcr; Potter Entire Contract. (a) This poicy together with all endorsranents• if any, attathed Hereto by the Company is the eatlre poicy and contract betwten the insured and the C ompany. to interpreting any provision of this policy, this poicy shall be censtruod as a whole, (b) Any Chun of bss or damage. whether or not based ae negligence, and which arises tut of the staters of the title to rho estele or merest covered lerebY ar by any eclion assertng such daAn, shat he restricted is this potty. It) No amendment of or endorsement to this policy can be made except by a writing endorsed hereon erattaehed hereto Synod by either fire President, a Vice Preeidau, the Secretary, en Assistant Secretary, ar validating officer or authorized signatory of the Company. 16. Sevsrab~ity. In the event any provision of the policy is Aeld etvelid ar anentarceeble under applicable law. the polcy shall be deemed not to itthtde rAat provision and all other pnasbns shell remain in full feces and of fell, 17. Notices, yyhere Seat. All notices required to be given the Corepasy and any statement in writing required to be fumisled the Company shall include the number of this poicy and shei be addreand to the Company at Ilia isrong affitt or to; Chicago 1"rcls Insurance Company Claena Department 171 North Ctere Street 'Chicago, Arurais 60601.3284 AO_CHL3 Cover Pape3of3 r ax senti oy L 1Ltfb f 1545 A11G~LU GURDUPI 89-11-87 18:48 Pg: 6/16 Form AOlCH1 Chicago Policy No, 72106-1405947 Our Order No. V500T7'690 s Schedule A Amount $5,000,040.00 Property Address: 352 E. MEADOW DR. AKA UNIT B VAIL MOUNTAIN LODGE VAIL CO 81657 T. Policy C1ate: March O5, 2007 at 5:00 P.M. 2. Name of Ynsured: JOHN M. ANGELO AND 1UDTTH H. ANGEL,O, AS JOINT TENANTS WITH ltIG1~IT OE SURVIVORSHIP 3. The estate or interest in the land described or referred w in this Schedule and which is covered by this policy is: A FEE SIMPLE 4. Title to the estate or interQSt covered by this policy at the date hereof is vested in: JOHN M, ANCrELO AND JUDITH H. ANGELO, AS JOINT TENANTS V4'ITH RTGHT OF SURVTVORSHTP S. The land referred to in this policy is described as follows: SEE ATTACHED PAGE(S) FOR LEGAL DESCRIPTION 7 Thls Policy valid only if Schedule B Ls attached. Land Title Gnarantee Company Representing Chicago Title Insurance Company Fax sent by :2128671545 AMGELO GORDON 89-11-87 18:48 Pg: 7/16 ~ LTG Policy No. CTAI50017690 ~ Our Order No. V50017690 LEGA! DESCRIPTION CONDOMINIUM UNIT B, VAIL MOUNTAIN LODGE, ACCORDING TO TIII~ AMENDED AND RESTATED DECLARATION RECORDED ON 1AN~(JARY 3, 2000 .4T RECEPTION NO. 719433, AS AMENDED BY THAT CERTATN FIRST AMENDMENT, R.ECORD1rD Fl~BRUARY 15, 2002 AT RECEPTION NO. 786161 AND BY THAT CERTATN SECOND AMENDMENT, RECORDED NNE 10, 20(}2 AT RECEPTION NO. 798231 AND BY THAT CERTAIN THIRD AMENDMENT, RECORDED NOVEMBER 14, 2003 AT RECEPTION N0. 858005 AND BY THAT CERTAIN FOURTH AMENDMENT, RECORDED DECEMBER ?2, 2004 AT RECEPTION NO. 901521 AIVD BY THAT CERTAIN FIFTH AMENDMENT, RECORDED JANUAR'Y' 25, 2005 AT RECEPTION NO. 904314 AND BY THAT CERTAIN SIXTH AMENDMENT, RECORDED pECEMBER 7, 2006 AT RECEPTION NO. 200633?41 AND AS FURTHER AMENDED FROM TIME TO TIME (COLLECTIVELY, THE "DECLARATION"), AND ACCORDING TO THE THIRD AA?FNDED AND RESTATED CONDOMINIUM IviAP, RJ3CORD1?D JANUARY 25, 2005 AT RECEPTTON NO. 904315, AS SUPPLEMENTED $Y THAT CERTAIN SUPPLEMENT RECORDED DECEMBER 2, 2006 AT RECEPTION NO. 2A0633240 AND AS I'URTHER SUPPLEMENTED FROM TIME TO TIME, .4LL AS RECORDED 1N 7HI? OFFICE OF THE CLERK AND RECORDER OF EAGLE COUNTY, COLORADO, TOGETHER WITH THE RIGHT TO USE A DESIGNATED PARKING SPACE IN THE PARKING GARAGE AS PROVIDED T[Y THE DECLARATION. r'ax sent by :2128671545 AfiGELO GORDOM B9-il-e7 18:48 Pg: 8/16 LTG Policy No, CTA1.50QI7690 Form AO/CAY Chicago Policy No. 72106-1405947 Our Order No. V50017690 Schedule B This policy does not insure agaimet loss or damage (and the Company will not pay cost,:, aitomeys' fees or expenses) which arise by rr,;t,,Un of_ General Exceptions: 1. Rights ar claims of parties in posser~ion not shown by the public records. 2. Easements, or ctaims of easements, not shown by the public records. 3. r]iscrepancties, conflicts itt boundary lines, shortage in area, encroachmerus, and any facts which a correct surrey and irk~pection of the premises would disclose and which are not shown by the public rewrds. 4. Any lien, or right to a lien, for services, labor, or noaterial l~erewfore oz hereafter furtushed, imposed by law and not shown by the public re~x>rdc. 5. TAXES AND ASSESSMENTS FOR THE YEAR 2007 AND SUBSEQUENT YEARS, NOT YET 17UL OR PAYABLE, 6. RIGHT OP PROPRIETOR OF A VEIN OR LODE TO EXTRACT AND REMOVE HIS ORE THEREPROM SHOULD THE SAME BE FOUND TO PENETRATE OR INTERSECT THE PREMISES AS RESERVED IN UNITED STATES PATENT RECORDED JULY 12, ]899, IN BOOK 48 AT PAGE 475. 7. RIGHT OF WAY FOR DITCHES OR CANALS CONSTRUCTED BY THE AUTHORITY OF THE UNITED STATES AS RESERVED IN UNFTED STATES PATENT RECORDED JULY 12, 1899, IN BOOK 48 AT PAGE 475. 8. RPS11tICTTVE COVENANTS WHICH DO NOT CONTAIN A PORl~EITURE OR REVERTER CLAUSE, BUT OMITTTVG A,NY COVENANTS OR RESTRICTIONS, IF ANY, I3ASEA UPON RACE, COLOR, RELIGION, SEX, SEXUAL ORIENTATIOr, FAMILIAL STATUS, MARITAL STATUS, DISABILITY, I-IANDICAP, NATIONAL ORIGIN, ANCESTRY, OR SOURCE OF INCOME, AS SET 1=0RTH [N APPLICABT..E STATE OR FEDBRAL LAWS, EXCEPT TO THE EXTENT THAI' SA[D COVENANT OR RESTRICTION IS PERMITTED BY APPLICABLE LAW, AS CONTAINED TN INSTRUMENT RECORDED AUGUST 10, I962, 1N BOOK 174 AT PAGE 174. 9, UTILITY EASEMENTS AS GRANTED TO HOLY CROSS ELECTRIC ASSOCIATION, INC. RECORDED JULY 19, 1977 1N BOOK 257 AT PAGi; 587 AND BOOK 257 AT PAGIM 588 A1~D JULY 19, 197$ IN BOOI£ 272 AT PAGE 441. 10. EASEMENT AND RIGHT Ol? ~'~A1' POR GORE CREI;I{ AS IT AFFECTS PROPERTY AS SHOWN ON THIr RECORDED PLAT OF VA1L VILLAGE, PIR5T FILING. Fax sent lsy :2128671545 ANGELO CORDON 69-i1-B7 16:48 Pg: 9/16 Form AOICHI Chicago Policy No, 72106-1405947 Our Order No. V50017690 Schedule B LTG .Policy No. CTAI50017690 11. THOSE PIZOVISIONS, COVENANTS AND COND1T10NS, EASEMENTS, AND RESTRICTIONS, WHICH ARE A BURDEN TQ THE CONDOtvrrNlUM UN1T DESCRIBED IN SCHEDULE A, AS CONTAINED iN INSTRUMENT RECORDED JANUARY 03, 2000, UNDER RECEPTION NO. 719433, AMENDMENT RECORDED FEBRUARY 15, 2002 RECEPTION NO. 786161 AND Atitt3NDMENT RECORDED NNE 10, 2D02 RECEPTIOV NQ. 79$231 ANb AMENDMENT RECORDED DECEMBER 22, 2004 AT RECEPTION N0.901521 ANP AMENDMENT RECORDED JANUARY 25, 2005 AT RECEPTION NO.944314AND AMENDMENT RECORDED DECEMBER 7, 2006 RECEPTION NO. 2006332.41. 12. EA5EMENTS, CONDITIONS, COVENANTS, RESTRICTIONS, RESERVATIONS AND NOTF~S ON THE CONDOMINIUM MAI' OF TIIE VAIL MOUNTAIN LODGE CONDOMINIUMS RECORDED JANUARY 25, 2005 AT RECEPTION NO. 904315, AND SUPP1rEyIkNT TO THE THIRD AMENDED AND RESTATED CONDOMINIUM MAP, RECORDED DECEMBER 7, 2006 AT RECEPTION NO. 200633240. ITEMS 1 Tl-tItOU!GH 3 Op GENERAL EXCEPTIONS UNDLYt SCHEDULE B ARE HEREBY DELETED. ITEM NO.4 OF THE STANDARD EXCEPTIONS IS HE1tEI3Y DELETED EXCEPT AS TO ANY LIENS OR FUTURE LIENS RESULTWG FROM WORK OR MATERIAL FURNISHED AT THE REQUEST OF JOHN M. ANGELO AND JUDITH H. ANGELO, AS JOINT TENANTS WITH RIGHT OF SURVIVORSHIP. CHICAGO TTTLE INSURANCE COMPANY SHALL HAVE NO LIABILITY I~OR ANY LIENS ARISING FROAd WORK OR MATERIAL PIJRVISHED AT THE REQUEST OF JOHN M. ANGELO AND JUDITH H. ANGELO, AS JOINT TENANTS WITH RIGHT OF SURVIVORSHIP. Fax sent by :2128671545 At1GEL0 GORDOM 89-11-e7 18:48 Pg: 10/16 Case x50017690 Policy CTA150017690 Loan # LAND TITLE GUARANTEE COMPANY SNDORSED2ENT CQD~PRBI;~NSIVE lA The Company hereby insures against Ioss or damage whicf2 the insured shall Sustain by reason vf: Z. Any inaccuracies in tl:e following assarance,: A. That there are no covenants, conditions or restrictions under which the Iien of the mortgage referred to in Schedule A car be divested or subordinated or its validity, priority or enforceability otherwise impaired; B. That, unless otherwise expressly set fartY, ar indicated ~n the contrary in Schedule B: (i! There are no present violations on said lard of any enforceable covenants, conditions or restrictions or plat building lines; (2! Any instrument referred to in Schedule B as specifically cortainir:g "Covenants and Restrictions" affecting said land does np,t, in addition, sstablisr an easement thereon or provide for either a lien for liquidated damages, a levy of a private charge or assessrnenr, sn option to purchase, or the prioz approval of a future purchaser or occupant; (3) There are no encroachments of existing improvements located on said Land onto adjoining land, nor any encroachments onto said Land of existing improvemen*_s IocatEd on adjoining Land; (4! There are no encroachments of existing improvements located on said Iand onto that portion of said land subject to any easeme~~t shown in Schedule B. 2. Any future violations on said land of any covenants, conditions or restrictions occurring prior to >rhe acquisition of title to said Iand by the .insured, proviaed sash violations result in Loss of the liexa of the mortgage referred to in Schedule A or impair the validity, priority or enforceability o,f such .zien, or result in loss of the tattle to said estate or interest if tY,e insured stall acquire title. in satisfaction of the indebtedness secured by such mortgage. 3. The entry of ary court order or judgment which constitutes a final determination and denies tha right to mdirtain any existi:g improvements On said Iand because of ary vipIation to any Covenants, conditions or restrictions or plat building Iines or because of any eneroachmen~ thereof over onto adjoining Land. Page 1 of 2 Representing Chioago Title Insurance Company r ax sent Dy 61Ltib f 1545 A11G~LU GVBDVPI LAND TITLE GUARANTEE COMPANY e9-1i-87 18:48 Pg: 11/16 ENDORSEMENT GOI~PREHENSIVE lA The endorsement is hereby amerxded iz~ :he following paxtiiculars: A. The fallowing numbered paragraph(s) is (axe) hereby deleted: ]. (A) AND 2 Li whenever in this endorsement any cr aI2 the wcxds "covenants, conditions or r•estriction~" appear, they shall not be deemed to refer to or to include the ~,.Prms, covenants, conditions or limitations contained in any Lease, instrument creating an easement ox declaration of condominium refezxed to in ScI:edule A, ?'his endorsement is made a part of the eolnmirment or policy. It is subject to ail the terms of the ccmmitmert or policy and prior erdorsernents. Except as expressly slated on this endorsemen;, the teams, dates and amount of the Gorunitment or po~icy and prior endorsements are not charged- valid when countersigned by an authorized officer or agent of the company, a7.1. in accordance with its by-laws, Page 2 of z Representing Chicago Title Insurance Company Fax sent by :2128671545 ANGELO GORDON 89-i1-6? 18:48 Pg: 12/16 awe V500I7690 Pc:~licy CTA250017690 Loan ~ LAND TITLE GUARANTEE COMPANY 115.1E ALTA 4-CONDOMINIUM TAB COHPANY HEREBY INSVRSS AGAIN,$T LASS OR DAMA(rS 8Y REASON OF: (1) TEE FAILt1RS OF T.US t1NIT rDENi'rFrED IN SCHEDitLS A AND ITS C0~!'ON SL~.gNTS TO ,5,8 PART OF A CONDODdINID1K WITHIN THB d~ANING OF TFIE CONDO!lIINIUD! STATtTTSS OF THS JDRISDICTION IN WHICH THS UNIT AND ITS cort&roN szs~NTS AR$' xpCATBD. (7. J THIS' FAILpRFs pF THS DOGUkf$,NTS RSQUrRBD 8Y SAID CONDOMINIUe~ STATUTFS'S TO COMFLY WIT~f T8E REQUIRI~VTS OF SAID STATUTES TO TS'S f3XTENT THAT SUCH FAILURE AFFECTS THS TIT,fifi TO TFiS aNTT AND ITS CW~iQN ZSLI~SNZ'S . (3.) PRESENT VIOLATION OF ANY RSSTRICTIVS COVENANTS WHTCH RESTRICT THS VSS OF THE UNIT AND ITS CObDfd'ON 5L8DSSN'PS AND W.FISCH ARE CONTAINED IN TR'Is CONDOd~INIUM DOCUDSBNTS. SAID RSSTRICTIVB COVENANTS DO NOT CONTAIN ANY PROVISIONS WHICB WILL CABSE A FORFEFITt7RS OR REVERSION OF TITLE. (4.) THS FAILURE OF THE UNIT' AND ITS CO1lDVfON 8L&~lVTS TQ 8S ENTITLED SY LAW' R'0 8E AS3BSSED FOR REAL PROPS]tTY TAXES AS A $EPARA~'Y3' PARCEL. (5. 1 ANY OSLIOATION TO RED[OV8 ANY IMPROYSM8NT5~ WIIICS 23JCIST AT RATS OP POLICY BBCA[7SS OF ANY PRESENT SNCROACI~7SNT OR BECAUSE OF ANY FUT~ pNINT,SNTIONAL 8'NCROAC~NT OF T88 COD~(ON I3LSb~NTS UPON ANY UNIT OR OF ANY UNIT UPON THE CObIIKON ELEMENTS OF ANOTl3F'R UNIT. (6.) TFil3 FAILURE OF TITLE SY REASON OF FIRST RI~FCJSAI, TO PURCHASE THS UNIT AND ITS COMHON ELEMENTS WHICH WAS EXERCIS&D OR COULD HAV$ ASTsN 6XS8CIS,SD AT DATE Ok' FOIrTCY. (7.) ANY CHARGES OR AS$SSSMSNTS PROVIDED FOR IN TRIG CONDOMINItT~At STATUTI3S AND CON.DOAtIN.T(lkf DOCUMENTS DUJS AND UNPAID AT DATE 08 PoLrcY. THrS IyNDORSBMBNT I3 MADE A PART OF THIS' POLICX AMID IS StrBJSCT TO ALL THS T&RAiS AND PROVISIONS THEREOF AND OF ANY PRIOR ENDORSBIfFsN'i'S TRSRSTO. EXCEPT TO THS 8]LTSNT EXPRESSLY STATED, IT NEITHIsR dfODIFIES ANY OF THS TSRAfS AND PROVISIONS OF THB POLICY AND P12IOR ENDORSSDdSNZ3, IF ANY, NOR DOSS IT EXTEND THS SFF14G'TIVS DATE OF Tlitf POLICY AND PRIOR L''NDORS$~'NTS OR rNCREASE TIXS' PAGE AMOr7NT THTsRSOF. Representing Chicago Tiile Insurance Company •~^ °~~~~ ~y ~~~oo.~~Y~ Hnu~~,u ~~n~~n 89-1i-87 iB:49 Pg: 13/16 Case V500Y7690 Policy CTAI500I7690 Lpan # LAND TITLE GUARANTEE G~MPANY ENDORSEMENT 103.1A TFIE CObipANY' HERESY INS01Z55 TRS IN:3UR8p AGArN1ST LOSS OR pAD~1GE WHIC8 T8S INSURED SI3ALL SOSTAIN RESIfLTING FROM: I. DAMAGE TO Tf78 EXISTING IMP720VBbiSNTS, INCLUII72NG LAArNS, SHRVBSSRY AND TRESS, ON TFTS LAND; 2. INTERFERENCE WITH THE CONTINUING U58, AS PRBSB'NTLY UTILY'L'BD, OF THE EXISTING IMPROVEMENTS ON THS LAND, 3. INTERPERBNCS A-ITH THS US& OF THS EXISTING IMFROT78M8NZ'S ON THE LAND AS A RESIDENTIAL CDNDOafINIU1Ft UNIT. OCCAISION&D BY TXS EXIsRC,ISB OF THS RIGHT Tb USB OR btAINTAIN TI3b' SAS'NT REFERRED TO TN SCREDULE B, PARAGRAPH (S) 6, 7, 9 AND 10. THE TOTAL LIADILSTY OF THE COMPANY UNDER SArD POLICY AND ANY ENDORSEMENTS TbfSJtSIN SHALY, NOT EXCEED, IN TFIS AGGREGATE, THS PACE AMOUNT' OF SAID POLICY AND COSTS" I~T1'CH THE COD[PANY IS OBLIGATED UNDER THfi CONDITIONS AND STSPVLATIONS THEREOF TO PAY. THIS ENDORSEMENT I3 AiADI3 A PART OF SAID POLICY AND SS SUBJECT TO TXS SCFl,E'DULES, CONDITIONS AND STXPtfLATIONS TFTSREIN, EXCEPT AS MODIFIED BY THE PRO'V7SIONS SSRSOF. ~~ Representing Chicago Title Insurance Compahy Fax sent by :2128671545 AMGELO GORDOM 99-i1-87 18:49 Pg: 14/16 Case v500S7690 Policy CTA2500176~0 ~oan Land Title Guarantee Company LNDpR$EMEI+IT ALTA $ .1 ENVIRpNMENTAL LIEN PROTECTIpN The insurance afforded by this endorsement is only effective if Ltie land is used or is to ne used primarily for residential purposes. The Company insures the insured agai:tst loss or damage sustained by reason of lack of priority of the lien of the insured :nortgage over: (a) any environmental protection lien which, at Date of Policy, is recorded in those records established under state statutes at Date of Policy for the purpose of imparting constructive notice of matters rElating to real property to purchasers for value and without knowledge, or :i1ed i:~ the records o.f the clerk o; tY.e United states district court for t:~e district in which the land is .located, except as set forth in Schedule B-.I; or (b) any environmental protection tier, provided for by any state statute in effect at Date of Policr, except environmental protection liens provided for by the fallowing state statutes: Nox:e This endorsement is made a part of the policy and is subject to all of the terms ar_d provisions thereof and of any prior endoxsements thereto. except to the extent expressly stated, it neither modifies an,r of the terms and provisions of the policy and any prior endorsemen~s, nor does it extend the effective date of the policy and any prior endorsements, nor does it increase the face amorir,t thereof . Representing Chicago Title Insurance Company rax aC11L oy L1Gi3O/1~4~ /~! Case V50017690 Folicy CTAi50U17690 Loan ~f HflliL''LU (iURDUI'I LAND YITLE GUARANTEE COMPANY b9-i1-87 18:49 Pg: 15/16 BNAORS~~NT 100.31 The Company hereby ins~:res tJ:e Insured against loss which the rnsured siial2 sustain by reason of physicsl, but nor_ aesthetic, damage to improvements existing on the land at Date of Poiiry or constru-fed «hereon thereafter, resulting from the exercise subsequent to the Aate of Policy of any rights to use the suxface of the Land under the mineral intexest referred to .:n Exception PTU. 6 of Schedule 8 ("thP mineral rights"), subject, however, to the following terms and cvndi ti o.7s i. The Insured shall notify the Company promptly in writing in case knowledge shall come to an rrsured hereunder of any actual or threatened exercise of the mineral rights. 2. The Cot~pany shall have the right, of its cost, to take any action which in its opinion may be necessary or desirable in order for the Company to avoid or ,minimize the extent of its liability under this endorsement, including, but noc Iimited to, any ox ali of the following: (a} Yn Che Company's own rig!~t, or in the name of file Insured fox the Company's benefit, to ins'_'it~te, pxosecute and pursue to final determination any proceedings at law or in ea_uity, or before any municipal, administrative, or regulatory tribunal ox board; (b) In the Company's own right, or in the name of the Insured for the Company' s beneFi t, to compel the giving of security band or undertaking by the person ox persons from whom the Insured is entitled by law to sucYz security, ;pond or undertaking, and in the same amount cr amounts to which the Insured would have been so entitled had this endorsement rot been issued; and Page 2 of 2 Representing Chicago Title insurance Company Fax sent by :2128671545 ANGELO GORDON ~oz,icy Cz'Ar500x7690 99-11-87 16:49 Pg: 16/16 ENDORSED~Nfi 10 0.31 (e) to retain or be paid out of any such security, bond cr undertaking, or out of any compensation or funds recovered by the Company or ttae rnsured, such amount as will reimburse the Company for a1I payments made to the .rnsured by the Company by reason of the insurance afforded by this endorsement, together with all costs and expenses incuxxed by the Company in connection therewith, Including attorney's fees. 3. rro rights, beneLits ar defenses are intended to or shall be deemed to flow or be made available to any person or entity other trap the .Insured by reason of the insurance afforded by t:zis endorse- ment, and the .insured agrees that all of the Insured's rights and r~tredies against third parties relating tv t1:e subject matter of this endorserner_t shall be deemed to have remained intact, in the same manner as if this endorsement had riot been issued. This er_dors~nent is ma3e a part of said policy and is subject to the Schedules, Conditions and Stipulations therein, e~ccept as modified by the provisions rereof. Page 2 of 2 LAND T1TLE GUARANTEE COMPANY Representing Chicago Title Insurance Company