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HomeMy WebLinkAbout1.14 Stewart Title Commitment 6-28-2012Stewart title View your transaction progress 24/7 via SureClose. Ask us about your login today! Glenwood Springs Division 1620 Grand Avenue Glenwood Springs, Colorado 81601 Phone: 970-945-5434 Fax: 1-800-886-2330 Date: Order Number: Buyer: Seller: Property June 28, 2012 958876-C24 William R. Patterson 318 County Road 300, Please direct all Closing inquiries to: SELLER: William R. Patterson P.O. Box 1329 Grand Junction, Colorado 81502 LISTING BROKER: NONE Phone: Parachute, CO 81635 Please direct all Title inquiries to: Susan Sarver Phone: 970-945-5434 or 866-932-6098 Email Address: susan.sarver@stewart.com SELLING BROKER: NONE Phone: ALTA Commitment (6/17/06) ALTA Commitment Form COMMITMENT FOR TITLE INSURANCE Issued by stewart .title guaranty company Stewart Title Guaranty Company, a Texas Corporation ("Company"), for a valuable consideration, commits to issue its policy or policies of title insurance, as identified in Schedule A, in favor of the Proposed Insured named in Schedule A, as owner or mortgagee of the estate or interest in the land described or referred to in Schedule A, upon payment of the premiums and charges and compliance with the Requirements; all subject to the provisions of Schedules A and B and to the Conditions of this Commitment. This Commitment shall be effective only when the identity of the Proposed Insured and the amount of the policy or policies committed for have been inserted in Schedule A by the Company. All liability and obligation under this Commitment shall cease and terminate six months after the Effective Date or when the policy or policies committed for shall issue, whichever first occurs, provided that the failure to issue the policy or policies is not the fault of the Company. The Company will provide a sample of the policy form upon request. This commitment shall not be valid or binding until countersigned by a validating officer or authorized signatory. IN WITNESS WHEREOF, Stewart Title Guaranty Company has caused its corporate name and seal to be hereunto affixed by its duly authorized officers on the date shown in Schedule A. Countersigned: �Y G Authorized Countersignature Stewart Title Glenwood Springs Division 1620 Grand Avenue Glenwood Springs, Colorado 81601 Phone: 970-945-5434 Fax: 1-800-886-2330 stewart title guaranty company -h oz(-) Senior Chairman of the Board Chairman of the Board President Order Number: 958876- ALTA Commitment (6/17/06) Title Officer: Susan Sarver COMMITMENT FOR TITLE INSURANCE SCHEDULE A 1. Effective Date: June 1, 2012, at 8:00 a.m. 2. Policy or Policies To Be Issued: (a) A.L.T.A. Owner's Proposed Insured: (b) A.L.T.A. Loan (Standard) Order Number: 958876-C2 Title Officer: Susan Sarver Amount of Insurance: 3. The estate or interest in the land described or referred to in this Commitment and covered herein is: Fee Simple 4. Title to the fee simple estate or interest in said land is at the effective date hereof vested in: William R. Patterson Rodney C. Power Ronald E. Tipping and Marie E. Tipping 5. The land referred to in this Commitment is described as follows: See Attached Legal Description Purported Address: 318 County Road 300 Parachute, Colorado 81635 Statement of Charges: hese charges are due and payable before a olicy can be issued: EARCH FEE: 11 Hours @ $100.00 - $1100.00 $ TBD SCHEDULE A LEGAL DESCRIPTION A tract of land situate in Section 27, 34 and 33 of Township 7 South, Range 96 West, of the 6th P.M. and described as follows: Beginning at the Northwest corner of Section 34, T. 7 S., R. 96W., of the 6 P.M.; thence South along the west line of said Section 34, 1273.0 feet to fence corner; thence along fence S. 13°54' W. 254.4 feet; thence along fence S. 16°59' W. 563.2 feet; thence along fence S. 07°29' E. 72.7 feet; thence along fence S. 23°40' E. 55.8 feet; thence along fence S. 37°29' E. 95.9 feet; thence along fence S. 73°33' E. 141.2 feet to the West line of said Section 34; thence South along said Section line 268.5 feet to the center of Colorado River; thence along center of river S. 73°55' E. 847.9 feet; thence along center of river N. 80° 15' E. 229.5 feet; thence along center of river N. 56°35' E. 290.7 feet; thence leaving river N. 14°39' W. 281.5 feet; thence N. 34°04' E. 87.1 feet; thence N. 70° 18' E. 254.9 feet; thence N. 20° 13' W. 214.5 feet; thence N. 75°09' E. 333.2 feet; thence S. 57°01' E. 165.0 feet to the center of Colorado River; thence along center of river N. 43°56' E. 291.7 feet; thence along center of river N. 61°40' E. 579.4 feet; thence along center of river N. 71°34' E. 664.1 feet; thence along center of river N. 22°49' E. 374.3 feet; thence along center of river N. 00°32' E. 965.6 feet to the North line of said Section 34; thence along center of river N. 00°06' E. 609.5 feet; thence along center of river N. 12° 47' W. 725.0 feet to a projection of the North line of Lot 5, Section 27, T. 7 5., R. 96 W., 6th P.M.; thence S. 89°32' W. 1514.4 feet to the South right-of-way line of the D&RGW Railroad; thence along the railroad right-of-way S. 55°32' W. 535.9 feet to the West line of SE% SW% of said Section 27; thence S. 01°38' E. 1020.2 feet to the Southwest corner of said SE% SW1/4 Section 27; thence S. 89°29' W. 1297.7 feet to the Point of Beginning. EXCEPTING from the above the following: A. Any portion of subject property lying outside of the boundaries of Lots 2, 3 or 4 of Section 34, Township 7 South, Range 96 West of the 6th P.M., according to the map of Township South, Range 96 West of the 6th P.M., examined and approved by the surveyor general, March 12, 1890, at Denver, Colorado. B. Any portion of subject property lying outside of the boundary of Lot 5 of Section 27, Township 7 South, Range 96 West of the 6th P.M., according to the map of Township 7 South, Range 96 West of the 6th P.M., examined and approved by the Surveyor General, March 12, 1890, at Denver, Colorado. C. Any portion of the subject property lying Easterly and Southerly of the Northerly and Westerly meander line of the Colorado River. D. That portion conveyed to Garfield County for road purposes being 60 feet in width as described in Deed recorded October 10, 1909 in Book 79 at Page 285 as Reception No. 38312. County of Garfield, State of Colorado COMMITMENT FOR TITLE INSURANCE SCHEDULE B — Section 1 REQUIREMENTS Order Number: 958876-C2 The following are the requirements to be complied with: 1. Payment to or for the account of the grantor(s) or mortgagor(s) of the full consideration for the estate or interest to be insured. 2. Proper instrument(s) creating the estate or interest to be insured must be executed and duly filed for record. 3. This is a Search Report Only. COMMITMENT FOR TITLE INSURANCE SCHEDULE B — Section 2 EXCEPTIONS Order Number: 958876-C2 The policy or policies to be issued will contain exceptions to the following 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. 2. Easements, or claims of easements, not shown by the public records. 3. Any encroachment, encumbrance, violation, variation, or adverse circumstance affecting the title that would be disclosed by an accurate and complete land survey of the land and not shown by the public records. 4. Any lien, or right to a lien, for services, labor or material heretofore or hereafter furnished, imposed by law and not shown by the public records. 5. 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. 6. Unpatented mining claims, reservations or exceptions in patents, or in acts authorizing the issuance thereof. 7. Water rights, claims or title to water. 8. The effect of inclusions in any general or specific water conservancy, fire protection, soil conservation or other district or inclusion in any water service or street improvement area. 9. Reservations or exceptions contained in U.S. Patents, or in Acts authorizing the issuance thereof, recorded July 22, 1895 in Book 12 at Page 372 as Reception No. 18549, reserving 1) Rights of the proprietor of a vein or lode to extract and remove his ore therefrom and 2) rights of way for ditches and canals constructed under the authority of the United States. 10. Deed to Grand River Irrigation and Development Co., recorded October 31, 1902 in Book 55 at Page 531 as Reception No. 27157, and instrument recorded October 24, 1907 in Book 69 at Page 176 as Reception No. 34178, and instrument recorded November 01, 1907 in Book 69 at Page 180 as Reception No. 34227. 11. Warranty Deed recorded December 10, 1909 in book 79 at Page 285 as Reception No. 38312. 12. Findings and Decree, recorded December 19, 1942 in Book 208 at Page 97 as Reception No. 148200. 13. Rights and Reservations in Warranty Deed recorded October 02, 1967 in Book 388 at Page 197 as Reception No. 239070, and any and all assignments of record, or otherwise, thereof, or interests therein. 14. Treasurer's Deed, recorded November 01, 1977 in Book 502 at Page 309 as Reception No. 281541. 15. Service Plan for the Organization of the Parachute/Battlement Mesa Park and Recreation District recorded January 20, 1983 in Book 617 at Page 266 as Reception No. 336199 and recorded December 23, 1983 in Book 640 at Page 961 as Reception No. 348440. Insofar as to how it may affect subject property. 16. Resolution No. 83-39, recorded March 08, 1983 in Book 621 at Page 490 as Reception No. 338972. 17. Holy Cross Electric Association, Inc. Right -of -Way Easement, recorded September 22, 1983 in Book 636 at Page 59 as Reception No. 345939. 18. Resolution No. 91-079, recorded September 24, 1991 in Book 814 at Page 150 as Reception No. 427621. 19. Resolution No. 2005-15, recorded February 08, 2005 in Book 1661 at Page 367 as Reception No. 668313. 20. Special Use Permit, recorded February 08, 2005 in Book 1661 at Page 469 as Reception No. 668334. 21. Memorandum of Master Surface Use Agreement, recorded March 30, 2005 in Book 1674 at Page 451 as Reception No. 671208. 22. Memorandum of Surface Lease Agreement, recorded July 07 2005 in Book 1704 at Page 687 as Reception No. 677725. 23. Resolution No. 2005-75, recorded October 04, 2005 in Book 1732 at Page 865 as Reception No. 683631. 24. Affidavit of Production, recorded February 24, 2006 in Book 1774 at Page 683 as Reception No. 692876. 25. Resolution No. 2006-104, recorded November 17, 2006 in Book 1864 at Page 387 as Reception No. 711278. 26. Memorandum of Surface lease Agreement, recorded January 29, 2007 in Book 1889 at Page 265 as Reception No. 716153. 27. Memorandum of Surface lease Agreement, recorded January 29, 2007 in Book 1889 at Page 268 as Reception No. 716154. 28. Affidavit of Production, recorded June 20, 2007 in Book 1939 at Page 610 as Reception No. 725924, and recorded December 03, 2007 as Reception No. 738425. 29. Special Use Permit, recorded February 05, 2008 as Reception No. 742386. 30. Right -of -Way Easement, recorded April 21, 2008 as Reception No. 746910. 31. Memorandum of Surface Lease Agreement, recorded September 29, 2008 as Reception No. 756525. 32. Right -of -Way Agreement, recorded October 31, 2008 as Reception No. 758031. 33. Memorandum of Surface Lease, recorded October 31, 2008 as Reception No. 758032. 34. Boundary Line Adjustment Affidavit, recorded March 20, 2009 as Reception No. 765018, and Quit Claim Deed , recorded March 20, 2009 as Reception No. 765019. 35. Holy Cross Energy Right -of -Way Easement, recorded November 13, 2009 as Reception No. 777754, Reception No. 777755, Reception No. 777756. 36. Resolution No. 2011-02, recorded March 30, 2011 as Reception No. 800747. 37. Memorandum of Surface Use Agreement, recorded April 08, 2011 as Reception No. 801159. 38. Easement Agreement, recorded July 14, 2011 as Reception No. 805263. 39. Land use Change Permit, recorded September 08, 2011 as Reception No. 807891. 40. Memorandum of Amended Surface Use Agreement, recorded March 15, 2012 as Reception No. 815986. 41. Letters RE: Consent to Grant License, recorded April 18, 2012 as Reception No. 817511. 42. License for Pipeline Facilities, recorded April 18, 2012 as Reception No. 817512. NOTE: This product is for informational purpose only. It is not a title insurance product and does not provide any form of coverage. This product is not a guarantee or assurance and does not warrant, or otherwise insure any condition, fact or circumstance. This product does not obligate this Company to issue any policies of title insurance for any subsequent transaction based on the information provided or involving the described herein. This Company's sole liability for any error(s) relating to this product is limited to the amount this was paid for this product. DISCLOSURES Order Number: 958876-C2 Note: 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 shall be obtained from the county treasurer or the county treasurer's authorized agent; C. 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. Note: Colorado Division of Insurance Regulations 3-5-1, Subparagraph (7) (E) 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 conducts the closing and is responsible for recording or filing of legal documents resulting from the transaction which was closed." Provided that Stewart Title 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 Lender's Title Policy when 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 Commitment from the Owner's Policy to be issued) 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 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 an appropriate affidavit indemnifying the Company against unfiled mechanic's and Materialmen's Liens. D. The Company must receive payment of the appropriate premium. E. If there has been construction, improvements or major repairs undertaken on the property to be purchased, within six months prior to the Date of the Commitment, the requirements to obtain coverage for unrecorded liens will include: disclosure of certain construction information; financial information as to the seller, the builder and/or the contractor; payment of the appropriate premium; fully executed Indemnity agreements satisfactory to the company; 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 or material for which the insured has contracted for or agreed to pay. Note: Pursuant to C.R.S. 10-11-123, notice is hereby given: 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. This notice applies to owner's policy commitments containing a mineral severance instrument exception, or exceptions, in Schedule B, Section 2. 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. STG Privacy Notice 1 (Rev 01/26/09) Stewart Title Companies WHAT DO THE STEWART TITLE COMPANIES DO WITH YOUR PERSONAL INFORMATION? Federal and applicable state law and regulations give consumers the right to limit some but not all sharing. Federal and applicable state law regulations also require us to tell you how we collect, share, and protect your personal information. Please read this notice carefully to understand how we use your personal information. This privacy notice is distributed on behalf of the Stewart Title Guaranty Company and its affiliates (the Stewart Title Companies), pursuant to Title V of the Gramm -Leach -Bliley Act (GLBA). The types of personal information we collect and share depend on the product or service that you have sought through us. This information can include social security numbers and driver's license number. All financial companies, such as the Stewart Title Companies, need to share customers' personal information to run their everyday business—to process transactions and maintain customer accounts. In the section below, we list the reasons that we can share customers' personal information; the reasons that we choose to share; and whether you can limit this sharing. swecan share ya Yes No For our everyday business purposes— to process your transactions and maintain your account. This may include running the business and managing customer accounts, such as processing transactions, mailing, and auditing services, and responding to court orders and legal investigations. For our marketing purposes— to offer our products and services to you. Yes No For joint marketing with other financial companies No We don't share For our affiliates' everyday business purposes— information about your transactions and experiences. Affiliates are companies related by common ownership or control. They can be financial and nonfinancial companies. Our affiliates may include companies with a Stewart name; financial companies, such as Stewart Title Company Yes No For our affiliates' everyday business purposes— information about your creditworthiness. No We don't share For our affiliates to market to you Yes No For non -affiliates to market to you. Non -affiliates are companies not related by common ownership or control. They can be financial and nonfinancial companies. No We don't share We may disclose vour personal information to our affiliates or to non -affiliates as permitted by law. If you request a transaction with a non -affiliate, such as a third party insurance company, we will disclose your personal information to that non -affiliate. [We do not control their subsequent use of information, and suggest you refer to their privacy notices.] harins.,plactices How often do the Stewart Title Companies notify me about their practices? We must notify you about our sharing practices when you request a transaction. How do the Stewart Title Companies protect my personal information? To protect your personal information from unauthorized access and use, we use security measures that comply with federal and state law. These measures include computer, file, and building safeguards. How do the Stewart Title Companies collect my personal information? We collect your personal information, for example, when you • request insurance -related services • provide such information to us We also collect your personal information from others, such as the real estate agent or lender involved in your transaction, credit reporting agencies, affiliates or other companies. What sharing can I limit? Although federal and state law give you the right to limit sharing (e.g., opt out) in certain instances, we do not share your personal information in those instances. 1 If you have any quest ons about this privacy notice, please contact us at: Stewart Title Guaranty Company, 1980 Post Oak Blvd., Privacy Officer, Houston, Texas 77056 Stewart Title DISCLOSURE The title company, Stewart Title in its capacity as escrow agent, has been authorized to receive funds and disburse them when all funds received are either: (a) available for immediate withdrawal as a matter of right from the financial institution in which the funds are deposited, or (b) are available for immediate withdrawal as a consequence of an agreement of a financial institution in which the funds are to be deposited or a financial institution upon which the funds are to be drawn. The title company is disclosing to you that the financial institution may provide the title company with computer accounting or auditing services, or other bank services, either directly or through a separate entity which may or may not be affiliated with the title company. This separate entity may charge the financial institution reasonable and proper compensation for these services and retain any profits there from. The title company may also receive benefits from the financial institution in the form of advantageous interest rates on loans, sometimes referred to as preferred rate loan programs, relating to loans the title company has with the financial institution. The title company shall not be liable for any interest or other charges on the earnest money and shall be under no duty to invest or reinvest funds held by it at any time. In the event that the parties to this transaction have agreed to have interest on earnest money deposit transferred to a fund established for the purpose of providing affordable housing to Colorado residents, then the earnest money shall remain in an account designated for such purpose, and the interest money shall be delivered to the title company at closing. CONDITIONS 1. The term mortgage, when used herein, shall include deed of trust, trust deed, or other security instrument. 2. If the proposed Insured has or acquired actual knowledge of any defect, lien, encumbrance, adverse claim or other matter affecting the estate or interest or mortgage thereon covered by this Commitment other than those shown in Schedule B hereof, and shall fail to disclose such knowledge to the Company in writing, the Company shall be relieved from liability for any loss or damage resulting from any act of reliance hereon to the extent the Company is prejudiced by failure to so disclose such knowledge. If the proposed Insured shall disclose such knowledge to the Company, or if the Company otherwise acquires actual knowledge of any such defect, lien, encumbrance, adverse claim or other matter, the Company at its option may amend Schedule B of this Commitment accordingly, but such amendment shall not relieve the Company from liability previously incurred pursuant to paragraph 3 of these Conditions and Stipulations. 3. Liability of the Company under this Commitment shall be only to the named proposed Insured and such parties included under the definition of Insured in the form of policy or policies committed for and only for actual loss incurred in reliance hereon in undertaking in good faith (a) to comply with the requirements hereof, or (b) to eliminate exceptions shown in Schedule B, or (c) to acquire or create the estate or interest or mortgage thereon covered by this Commitment. In no event shall such liability exceed the amount stated in Schedule A for the policy or policies committed for and such liability is subject to the insuring provisions and Conditions and Stipulations and the Exclusions from Coverage of the form of policy or policies committed for in favor of the proposed Insured which are hereby incorporated by reference and are made a part of this Commitment except as expressly modified herein. 4. This Commitment is a contract to issue one or more title insurance policies and is not an abstract of title or a report of the condition of title. Any action or actions or rights of action that the proposed Insured may have or may bring against the Company arising out of the status of the title to the estate or interest or the status of the mortgage thereon covered by this Commitment must be based on and are subject to the provisions of this Commitment. 5. The policy to be issued contains an arbitration clause. All arbitrable matters when the Amount of Insurance is $2,000,000 or less shall be arbitrated at the option of either the Company or the Insured as the exclusive remedy of the parties. You may review a copy of the arbitration rules at www.alta.org. stewart title guaranty company All notices required to be given the Company and any statement in writing required to be furnished the Company shall be addressed to it at P.O. Box 2029, Houston, Texas 77252.