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HomeMy WebLinkAbout1.12 Title CommitmentCommonwealth Title Company of Garfield County, Inc. 127 E. 5th Street Rifle, CO 81650 Phone (970) 625-3300 / Fax (970) 625-3305 1322 Grand Avenue Glenwood Springs, CO 81601 Phone (970) 945-4444 / Fax (970) 945-4449 Date: August 13, 2015 File No. 1508040 Property Address. 57 Corral Drive, Carbondale Selling A. ent Woodbridge Realty of Colorado, LLC: 38 Diamond A Ranch Road Carbondale, CO 81623 Attn: Kimberly Rauman - Laura Gee Email: krauman@woodbridgerealtyco.com; lgee@woodbridgerealtyco.com Buyer Attorney Crossbeam Investments, LLC Seller Dean A. Bramlet 2027 Brightwaters Blvd. NE ST PETERSBURG, FL 33704 Email: aspendocs@aol.com; jkaspendocs@aol.com Balcomb & Green PO Drawer 790 Glenwood Springs , CO 81601 Attn: Chad Lee - Britt Choate Email:clee@balcombgreen.com; brittc@balcombgreen.com COMMITMENT FOR TITLE INSURANCE SCHEDULE A File No. 1508040 1. Effective Date: July 28, 2015 at 7:59 AM 2. Policy or Policies to be issued: (a) ALTA OWNER POLICY (ALTA 6-17-06) Proposed Insured: Crossbeam Investments, LLC (b) ALTA LOAN POLICY (ALTA 6-17-06) Proposed Insured: $684,000.00 3. The Estate or interest in the land described or referred to in the Commitment and covered herein is Fee Simple and is at the effective date hereof vested in: Dean A. Bramlet 4. The land referred to in this Commitment is situated in the County of Garfield, State of Colorado and described as follows: Lot C-14 Aspen Equestrian Estates A Planned Unit Development According to the plat thereof recorded June 6, 2000 as Reception No. 564578 TITLE CHARGES Owner's Policy Standard Coverage Owner's Extended Coverage Tax Certificate COUNTERSIGNED: Patric kBurw e CC $1,626.00 65.00 15.00 American Land Title Association Schedule A (Rev'd 6-06) Authorized Officer or Agent Valid Only if Schedule B and Cover Are Attached Issuing Agent: Commonwealth Title Company of Garfield County, Inc. 127 East 5th Street Rifle, CO 81650 File No. 1508040 SCHEDULE B - SECTION 1 The Following are the requirements to be complied with prior to the issuance of said policy or policies. Any other instrument recorded subsequent to the date hereof may appear as an exception under Schedule B of the policy to be issued. Unless otherwise noted, all documents must be recorded to the office of the Clerk and Recorder of the County in which said property is located. 1. Warranty deed from Dean A. Bramlet vesting fee simple title in Crossbeam Investments, LLC. 2. Release of record by the Public Trustee of the Deed of Trust from Dean A. Bramlet and Jane Kienle for the use of Merrill Lynch Credit Corporation showing an original amount of $593,200.00, dated August 17, 2007 and recorded August 29, 2007 as Reception No.731907 (view) 3. Recordation of a Statement of Authority for Crossbeam Investments, LLC, evidencing the existence of the entity and authority of the person authorized to execute instruments conveying, encumbering or otherwise affecting title to real property on behalf of the entity, and containing the other information required by CRS 38-30-172, evidencing the existence of said entity prior to its acquisition of title to the land herein. 4. Certified copy of Certificate of Good Standing issued by the Secretary of State of Colorado for Crossbeam Investments, LLC. 5. Payment of any outstanding homeowner association dues. 6. Execution of a Final Affidavit and Agreement indemnifying the Company against unfiled mechanic's and materialmen's liens. NM 6 American Land Title Association Commitment Schedule B - Section 1 - Form 1004-5 DISCLOSURES Colorado Division of Insurance Regulation 3-5-1, Article 7, Paragraph G requires that "Every title insurance company shall be responsible to the proposed insured(s) subject to the terms and conditions of the title insurance commitment, other than the effective date of the title insurance commitment, for all matters which appear of record prior to the time of recording whenever the title insurance company, or its agent, conducts the closing and settlement service that is in conjunction with its issuance of an owners policy of title insurance and is responsible for the recording and filing of legal documents resulting from the transaction which was closed." Provided Commonwealth Title Insurance Company of Garfield County, Inc. conducts the closing of the insured transaction and is responsible for recording the legal documents from the transaction, exception number 5 will not appear on the Owner's Title Policy and the Lenders Policy when issued. NOTE: Exception No. 4 of Schedule B - Section 2 of this Commitment may be deleted from the Owner's Policy to be issued hereunder upon compliance with the following conditions: A. The land described in Schedule A of this Commitment must be a single family residence, which includes a condominium or townhouse unit. B. No labor or materials may have been furnished by mechanics or materialmen for purposes of construction on the land described in Schedule A of this Commitment within the past 6 months. C. The Company must receive appropriate affidavits indemnifying the Company against all unfiled mechanic's and materialmen's liens. D. Any deviation from conditions A through C above is subject to such additional requirements or information as the Company may deem necessary; or, at its option, the Company may refuse to delete the exception. No coverage will be given under any circumstances for labor or material for which the insured has contracted for or agreed to pay. Pursuant to C.R.S. § 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 may be obtained from the County Treasurer's authorized agent. C) The information regarding special districts and the boundaries of such districts may be obtained from the Board of County Commissioners, the County Clerk and Recorder, or the County Assessor. D) The company will not issue its policy of policies of title insurance contemplated by the commitment until it has been provided a Certificate of Taxes due or other equivalent documentation from the County Treasurer or the County Treasurer's authorized agent; or until the Proposed Insured has notified or instructed the company in writing to the contrary. C.R.S. §30-10-406 requires that all documents received for recording or filing in the clerk and recorder's office shall contain a top margin of at least one inch and a left, right, and bottom margin of at least one half of an inch. The clerk and recorder may refuse to record or file any document that does not conform, except that, the requirement for the top margin shall not apply to documents using forms on which space is provided for recording or filing information at the top margin of the document. Pursuant to C.R.S. §10-11-123, notice is hereby given: This notice applies to owner's policy commitments containing a mineral severance instrument exception, or exceptions, in Schedule B, Section 2. A) That there is recorded evidence that a mineral estate has been severed, leased, or otherwise conveyed from the surface estate and that there is a substantial likelihood that a third party holds some or all interest in oil, gas, other minerals, or geothermal energy in the property; and B) That such mineral estate may include the right to enter and use the property without the surface owner's permission. If the transaction includes a sale of the property and the price exceeds $100,000.00, the seller must comply with the disclosure/withholding provisions of C.R.S. §39-22-604.5 (Nonresident withholding). Pursuant to C.R.S. §38-35-125(2), no person or entity that provides closing and settlement services for a real estate transaction shall disburse funds as a part of such services until those funds have been received and are available for immediate withdrawal as a matter of right. C.R.S. §39-14-102 requires that a real property transfer declaration accompany any conveyance document presented for recordation in the State of Colorado. Said declaration shall be completed and signed by either the grantor or grantee. Nothing herein contained will be deemed to obligate the company to provide any of the coverages referred to herein unless the above conditions are fully satisfied. File No. 1508040 SCHEDULE B - SECTION 2 Schedule B of the Policy or Policies to be issued will contain exceptions to the following matters unless the same are disposed of to the satisfaction of the company: 1. Rights or claims of parties in possession not shown by the Public records. Note: This exception will be deleted on the final policy upon compliance with the requirements herein. 2. Easements, or claims of easements, not shown by the public records. Note: This exception will be deleted on the final policy upon compliance with the requirements herein. 3. Discrepancies, conflicts in boundary lines, shortage in area, encroachments, and any facts, which a correct survey and inspection of the premises would disclose, and which are not shown by the public records. Note: This exception will be deleted on the final policy upon compliance with the requirements herein. 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. Note: Exception No. 4 will be deleted upon receipt of Final Affidavits and Agreements indemnifying the Company against unfiled mechanic's and materialmen's liens. 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 the proposed insured acquires of record for value the estate or interest or mortgage thereon covered by this commitment. Note: Exception 5 will be deleted on the final policy if Commonwealth Title Company of Garfield County, Inc. closes the proposed transaction and records the applicable instruments of conveyance. 6. Any and all unpaid taxes, assessments and unredeemed tax sales. Note: Exception 6 will read: "General taxes and assessments for the year 2015 and thereafter, not yet due and payable." on the final policy if Commonwealth Title Company of Garfield County, Inc. closes the proposed transaction. 7. Any lien or charge on account of the inclusion of subject property in an improvement district. 8. Any and all water rights, claims, or title to water, whether or not the matters excepted are shown by the public record. 9. Right of the proprietor of a vein or lode to extract and remove his ore therefrom, should the same be found to penetrate or intersect the premises hereby granted and a right of way for ditches or canals as constructed by the authority of the United States, as reserved in United States Patent recorded June 24, 1895 in Book 12 at Page 368. 10. Easement and right of way for pipeline purposes as granted to rocky Mountain Natural Gas Company, Inc. by the TO Ranch Company of Colorado by instrument recorded October 19, 1961 in Book 337 at Page 236, in which specific location of the easement is not defined. 11. Restrictions as contained in Protective Covenants, recorded April 7, 1969 in Book 401 at Page 28. 12. Terms and conditions of the Agreement, Easement Grant and Mutual Release between Gertrude L. Peet and the Ranch at Roaring Fork Homeowners Association, Inc., recorded October 22, 1986 in Book 697 at Page 616. 13. Terms and conditions of Special Use Permit, County Resolution No. 88-006 recorded January 13, 1988 in Book 727 at Page 676. 14. Restrictive covenants as contained in Deed by and between Trudi Peet a/k/a Gertrude L. Peet and Ralph L. Braden recorded December 7, 1987 in Book 725 at Page 792. 15. Terms and conditions of the approval for Preshana Farms Planned Unit Development as described in Garfield County Resolution No. 89-121 recorded September 7, 1989 in Book 762 at Page 535 16. Terms and conditions of Garfield County Resolution No. 98-11 concerned with Approval of Modifications to the PUD Rezoning Plan for Preshana Farms PUD recorded March 10, 1998 in Book 1056 at Page 952. 17. Terms and conditions of Memorandum of Water Allotment Contract recorded August 12, 1998 in Book 1083 at Page 131. 18. Terms and conditions of Memorandum of Water Allotment Contract recorded September 16, 1998 in Book 1088 at Page 800. (continued) File No. 1508040 SCHEDULE B - SECTION 2 19. Terms and conditions of Development and Vested Rights Agreement Aspen Equestrian Estates Subdivision recorded June 6, 2000 in Book 1191 at Page 225. 20. Easements, rights of way, plat notes setbacks and other matters disclosed on Aspen Equestrian Estates Subdivision, P.U.D. Final Plat recorded June 6, 2000 as Reception No. 564578. 21. Easements, rights of way, plat notes setbacks and other matters disclosed on Amended Final Plat Lots C8 -C-11 Aspen Equestrian Estates Subdivision, P.U.D. recorded December 29, 2001 as Reception No. 594569. 22. Terms and conditions of Declaration of Protective Covenants for Aspen Equestrian Estates Subdivision recorded June 6, 2000 in Book 1191 at Page 248. Amended in instrument recorded November 13, 2001 in Book 1302 at Page 793. 23. Terms and conditions of Trench, Conduit, and Vault Agreement granted to Holy Cross Energy, a Colorado corporation recorded March 3, 2000 in Book 1175 at Page 458. 24. Terms and conditions set forth in Agreement (Water System) as evidenced by Memorandum recorded November 8, 2001 in Book 1301 at Page 733. 25. Terms and condition of Water Supply and Connection Agreement recorded November 8, 2001 in Book 1301 at Page 751. 26. Terms and condition of Sewer Connection Agreement recorded November 8, 2001 in Book 1301 at Page 774. 27. Terms and conditions of Aspen Equestrian Estates Homeowners Association Resolution of the Board of Directors No. 2007-1 recorded January 9, 2008 as Reception No. 740902. NOTE: EXCEPTION(S) 1,2,3 and 4 WILL NOT APPEAR IN THE OWNERS POLICY TO BE ISSUED HEREUNDER. The Owner's Policy of Title Insurance committed for in this Commitment, if any, shall contain, in addition to the Items set forth in Schedule B - Section 2, the following items: (1) The Deed of Trust, if any, required under Schedule B - Section 1. (2) Unpatented mining claims; reservations or exceptions in patents or in Acts authorizing the issuance thereof. (3) any and all unpaid taxes, assessments and unredeemed tax sales. NOTE: The policy (s) of insurance may contain a clause permitting arbitration of claims at the request of either the Insured or the Company. Upon request, the Company will provide a copy of this clause and the accompanying arbitration rules prior to the closing of the transaction. American Land Title Association Commitment Schedule B - Section 2 Form 1004-12 COMMONWEALTH TITLE COMPANY PRIVACY POLICY We Are Committed to Safeguarding Customer Information In order to better serve your needs now and in the future, we may ask you to provide us with certain information. We understand that you may be concerned about what we will do with such information - particularly any personal or financial information. We agree that you have a right to know how we will utilize the personal information you provide to us. Therefore, we have adopted this Privacy Policy to govern the use and handling of your personal information. Applicability This Privacy Policy governs our use of the information which you provide to us. It does not govern the manner in which we may use information we have obtained from any other source, such as information obtained from a public record or from another person or entity. Types of Information Depending upon which of our services you are utilizing, the types of nonpublic personal information that we may collect include: • • • Information we receive from you on applications, forms and in other communications to us, whether in writing, in person, by telephone or any other means. Information about your transactions with us, our affiliated companies, or others; and Information we receive from a consumer reporting agency. Use of Information We request information from you for our own legitimate business purposes and not for the benefit of any nonaffiliated party. Therefore, we will not release your information to nonaffiliated parties except: (1) as necessary for us to provide the product or service you have requested of us; or (2) as permitted by law. We may, however, store such information indefinitely, including the period after which any customer relationship has ceased. Such information may be used for any internal purpose, such as quality control efforts or customer analysis. We may also provide all of the types of nonpublic personal information listed above to one or more of our affiliated companies. Such affiliated companies include financial service providers, such as title insurers, property and casualty insurers, and trust and investment advisory companies, or companies involved in real estate services, such as appraisal companies, home warranty companies, and escrow companies. Furthermore, we may also provide all the information we collect, as described above to companies that perform marketing services on our behalf, on behalf of our affiliated companies, or to other financial institutions with whom we or our affiliated companies have joint marketing agreements. Former Customers Even if you are no longer our customer, our Privacy Policy will continue to apply to you. Confidentiality and Security We will use our best efforts to ensure that no unauthorized parties have access to any of your information. We restrict access to nonpublic personal information about you to those individuals and entities who need to know that information to provide products or services to you. We will use our best efforts to train and oversee our employees and agents to ensure that your information will be handled responsibly and in accordance with this Privacy Policy. We currently maintain physical, electronic and procedural safeguards that comply with federal regulations to guard your nonpublic personal information.