The URL can be used to link to this page

Home My WebLink About2.00 Ownership Documentation - 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 9, 2016 File No. 1608020 Property Address. , Carbondale Balcomb & Green PO Drawer 790 Glenwood Springs, CO 81601 Attn: Britt Choate Email: brittc@balcombgreen.com COMMITMENT FOR TITLE INSURANCE SCHEDULE A File No. 1608020 1. Effective Date: July 29, 2016 at 7:59 AM 2. Policy or Policies to be issued: (a) ALTA OWNER POLICY (ALTA 6-17-06) Proposed Insured: A Purchaser to be Determined (b) ALTA LOAN POLICY (ALTA 6-17-06) Proposed Insured: N/A 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: Carbondale Glen Sweetgrass Vista, LLC, a Colorado limited liability company 4. The land referred to in this Commitment is situated in the County of Garfield, State of Colorado and described as follows: Lot D-19 Aspen Glen Filing No. 1 According to the plat thereof recorded April 6, 1995 as Reception No. 476330 TITLE CHARGES Informational Only Commitment $100.00 COUNTERSIGNED: Patrick' p. 113 t wwe2L 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. 1608020 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. This commitment is for informational purposes and no policy will be issued. NM 6 American Land Title Association Commitment Schedule B - Section 1 - Form 1004-5 DISCLOSURES Colorado Division of Insurance Regulation 8-1-2, Section 5, Paragraph F provides: "Whenever a title entity provides the closing and settlement service that is in conjunction with the issuance of an owner's policy of title insurance, it shall update the title commitment from the date of issuance to be as reasonably close to the time of closing as permitted by the real estate records. Such update shall include all impairments of record at the time of closing or as close thereto as permitted by the real estate records. The title insurance company shall be responsible to the proposed insured(s) subject to the terms and conditions of the title commitment, other than the effective date of the title commitment, for all undisclosed matters that appear of record prior to the time of closing." 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. 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. 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. Section 38-35-109 (2) of the Colorado Revised Statutes, 1973, requires that a notation of the purchasers legal address, (not necessarily the same as the property address) be included on the face of the deed to be recorded. File No. 1608020 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. 2. Easements, or claims of easements, not shown by the public records. 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. 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. Any and all unpaid taxes, assessments and unredeemed tax sales. 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 November 12, 1892 in Book 12 at Page 192. 10. Reservation of an undivided one-fourth interest in and to all oil, gas, hydrocarbons and minerals in instrument recorded September 26, 1961 in Book 336 at Page 570. 11. Terms and conditions of Agreement recorded August 19, 1994 in Book 912 at Page 970. 12. Terms and conditions of Out -of -District Sewer Service Agreement recorded August 19, 1994 in Book 912 at Page 973. 13. Terms and conditions of Trench, Conduit and Vault Agreement recorded December 1, 1995 in Book 959 at Page 968. 14. Terms and conditions of Garfield County Board of Commissioner Resolutions for Aspen Glen Planned Unit Development recorded June 29, 1992 in Book 835 at Page 305, December 28, 1993 in Book 887 at Page 824, August 9, 1994 in Book 911 at Page 791, February 9, 1996 in Book 966 at Page 682, February 9, 1996 in Book 966 at Page 686, and August 20, 1997 in Book 1030 at Page 722. 15. Terms, conditions, provisions and obligations as contained in agreements recorded April 12, 1992 in Book 827 at Page 636. 16. Terms, conditions, provisions and obligations as contained in agreements recorded June 29, 1992 in Book 835 at Page 364. 17. Easements, rights of way and other matters as set forth on the plat of Aspen Glenn Planned Unit Development recorded April 6, 1995 under Reception No. 476330. 18. Restrictive covenants, which do not contain a forfeiture or reverter clause, as contained in instrument recorded April 6, 1995 in Book 936 at Page 350. Amended in instrument recorded July 15, 1997 in Book 1026 at Page 161, Supplemented in instrument recorded August 24, 1998 in Book 1084 at Page 943, Amended in instrument recorded October 26, 1998 in Book 1094 at Page 517, Amended in instrument recorded August 17, 1999 in Book 1145 at Page 680, November 19, 1999 in Book 1161 at Page 293, September 23, 1999 in Book 1151 at Page 877, December 14, 1999 in Book 1164 at Page 755, July 17, 2000 in Book 1197 at Page 740, May 8, 2003 in Book 1467 at Page 910, October 30, 2003 in Book 1533 at Page 735, December 21, 2004 in Book 1649 at Page 891 and March 23, 2007 in Book 1905 at Page 523. 19. Terms, conditions and provisions of Subdivider's Agreement as contained in instrument recorded April 6, 1995 in Book 936 at Page 444. Amended in instrument recorded July 11, 1996 in Book 984 at Page 697. 20. Terms, conditions, provisions, obligations, restrictions, easements and rights of way as contained in Declaration of Golf Facilities Development, Construction and Operational Easement recorded April 6, 1995 in Book 936 at Page 314. (Continued) File No. 1608020 SCHEDULE B - SECTION 2 (Continued) 21. Deed of Trust from Carbondale Glen Sweetgrass Vista, LLC, a Colorado limited liability company for the use of Woodbridge Mortgage Investment Fund 3, LLC, a Delaware limited liability company showing an original amount of $1,200,000.00, dated April 13, 2015 and recorded May 22, 2015 as Reception No.863004 Collateral Assignment of Note, Mortgage and other loan documents recorded February 29, 2016 as Reception No. 874200 to Richard R. Sawyer and Lane M. Sawyer Collateral Assignment of Note, Mortgage and other loan documents recorded February 29, 2016 as Reception No. 874201 to Douglas D. Quine Collateral Assignment of Note, Mortgage and other loan documents recorded February 29, 2016 as Reception No. 874202 to Provident Trust Group, LLC fbo Stephen R. Austin IRA Collateral Assignment of Note, Mortgage and other loan documents recorded February 29, 2016 as Reception No. 874203 to Provident Trust Group, LLC fbo Frank Hanke IRA Collateral Assignment of Note, Mortgage and other loan documents recorded February 29, 2016 as Reception No. 874204 to Heather G. Blickendorf Collateral Assignment of Note, Mortgage and other loan documents recorded March 3, 2016 as Reception No. 874362 to Provident Trust Group, LLC fbo Mary Borges -Prater IRA Note: When the details of this transaction are revealed, the Company reserves the right to make additional requirements and/or exceptions. Note: Collateral Assignment of Note, Deed of Trust and other loan documents recorded August 9, 2014 as Reception No. 849043 to Provident Trust Group, LLC fbo Bruce D. Smith IRA NOTE: EXCEPTION(S) N/A WILL NOT APPEAR IN THE 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