HomeMy WebLinkAbout1.12 L.LandTitleCommitmentALTA 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:
Authorized Countersignature
Stewart Title
Roaring Fork Division
60 South 8th Street
Carbondale, Colorado 81623
(970)-704-1000 ph
(970)-704-0205 fax
Order Number: 941686-C4
stewart
title guaranty company -1
Senior Chairman oft e Board
1908
Chairman of the Board
President
ALTA Commitment (6/17/06)
COMMITMENT FOR TITLE INSURANCE
SCHEDULE A
1. Effective Date: February 9, 2011, at 8:00 A.M.
2. Policy or Policies To Be Issued:
(a) A.L.T.A. Owner's (Standard)
Proposed Insured:
To Be Determined
(b) A.L.T.A. Loan
Order Number: 941686-C4
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 referenced estate or interest in said land is at the effective date hereof vested in:
Carbondale Investments, LLC
5. The land referred to in this Commitment is described as follows:
See Attached Legal Description
Purported Address:
82 Highway
Glenwood Springs, Colorado 81623
Statement of Charges:
These charges are due and payable before a
Policy can be issued:
Search Fee -$100.00
SCHEDULE A
LEGAL DESCRIPTION
Parcel A (South Parcel):
A tract of land situated in the east half of Section 12, Township 7 South, Range 89 West, and in the west
half of Section 7 and in the north half of Section 18, Township 7 South, Range 88 West of the 6th Principal
Meridian, County of Garfield, State of Colorado, being more particularly described as follows:
Beginning at a point on the westerly right of way line of Colorado State Highway 82, whence a 2 1/2"
Brass Cap, found in place and correctly marked as the southeast corner of said Section 7, bears S 78°49'20"
E a distance of 2150.14 feet;
thence, along said right of way line S 09°35°09 E a distance of 401.79 feet;
thence, S 09°35°09 E a distance of 1545.87 feet;
thence, 626.05 feet along the arc of a curve to the left having a radius of 1482.50 feet, a central angle of
24°11'44" and subtending a chord bearing of S 21°41'02" E a distance of 621.41 feet;
thence, S 33°46°54 E a distance of 387.28 feet;
thence, 294.32 feet along the arc of a curve to the right, having a radius of 2815.00 feet, a central angle of
5°59'26" and subtending a chord bearing of S 30°47°11 E a distance of 294.19 feet;
thence, departing said right of way line N 89°53°16 W a distance of 218.07 feet;
thence, N 40°23°30 W a distance of 69.38 feet;
thence, S 87°28°29 W a distance of 36.35 feet;
thence, S 83°52°12 W a distance of 10.80 feet;
thence, N 58°27°19 W a distance of 41.45 feet;
thence, N 29°51°31 W a distance of 8.28 feet;
thence, N 24°16°24 W a distance of 25.22 feet;
thence, N 69°00°53 W a distance of 9.87 feet;
thence, S 87°31°44 W a distance of 22.60 feet;
thence, N 57°25°01 W a distance of 17.28 feet;
thence, N 50°09°49 W a distance of 26.07 feet;
thence, N 46°21°12 W a distance of 9.99 feet;
thence, N 44°28°05 W a distance of 21.45 feet;
thence, N 55°50°08 W a distance of 49.05 feet;
thence, N 56°25°40 W a distance of 49.94 feet;
thence, N 68°12°23 W a distance of 36.45 feet;
thence, N 46°54°04 W a distance of 55.18 feet;
thence, N 68°49°21 W a distance of 25.14 feet;
thence, N 47°41°50 W a distance of 78.78 feet;
thence, N 30°26°40 W a distance of 24.58 feet;
thence, N 25°47°01 W a distance of 30.08 feet;
thence, N 18°11°39 W a distance of 34.61 feet;
thence, N 30°58°21 W a distance of 29.32 feet;
thence, N 21°59°14 W a distance of 27.50 feet;
thence, N 30°16°07 W a distance of 22.97 feet;
thence, N 25°41°38 W a distance of 169.44 feet;
thence, N 41°17°39 E a distance of 82.61 feet;
thence, N 38°34°52 E a distance of 15.89 feet;
thence, N 34°26°44 W a distance of 262.40 feet;
thence, N 57°58°09 W a distance of 102.47 feet;
thence, N 53°43°31 W a distance of 105.38 feet;
thence, N 55°58°11 W a distance of 126.13 feet;
thence, N 56°14°57 W a distance of 118.42 feet;
thence, N 49°16°04 W a distance of 136.33 feet;
thence, N 44°30°51 W a distance of 150.05 feet;
thence, N 32°49°55 W a distance of 102.14 feet;
thence, N 37°44°19 W a distance of 552.12 feet;
thence, N 18°10°02 W a distance of 47.26 feet;
thence, N 27°58°19 W a distance of 109.20 feet;
thence, N 35°01°36 W a distance of 71.09 feet;
thence, N 41°32°47 W a distance of 152.23 feet;
thence, N 40°22°24 W a distance of 339.82 feet;
thence, N 64°20°53 W a distance of 34.06 feet;
thence, N 45°00°36 W a distance of 52.42 feet;
thence, N 44°53°41 W a distance of 154.66 feet;
thence, N 32°35°48 W a distance of 86.59 feet;
thence, N 57°01°32 W a distance of 44.89 feet;
thence, N 30°33°12 W a distance of 85.72 feet;
thence, N 37°39°02 W a distance of 79.09 feet;
thence, N 37°32°30 W a distance of 63.32 feet;
thence, N 20°02°15 W a distance of 33.98 feet;
thence, N 39°52°25 W a distance of 42.02 feet;
thence, N 25°36°04 W a distance of 107.17 feet;
thence, N 30°34°08 W a distance of 164.72 feet;
thence, N 11°39°01 W a distance of 107.90 feet;
thence, N 24°56°06 E a distance of 163.60 feet;
thence, N 63°39°33 E a distance of 177.81 feet;
thence, N 83°14°43 E a distance of 393.54 feet;
thence, N 07°15°26 W a distance of 21.79 feet;
thence, N 80°51°11 E a distance of 50.00 feet;
thence, N 89°15°06 E a distance of 65.56 feet;
thence, N 57°50°04 E a distance of 50.12 feet;
thence, S 84°51°15 E a distance of 33.08 feet;
thence, S 81°39°50 E a distance of 89.61 feet;
thence, N 56°07°00 E a distance of 26.86 feet;
thence, N 07°38°31 E a distance of 27.93 feet;
thence, N 37°41°57 W a distance of 28.06 feet;
thence, N 50°00°15 E a distance of 22.23 feet;
thence, N 82°02°30 E a distance of 36.49 feet;
thence, S 63°34°38 E a distance of 54.05 feet;
thence, S 45°59°58 E a distance of 20.95 feet;
thence, S 14°44°20 E a distance of 29.18 feet;
thence, S 11°11°17 W a distance of 26.42 feet;
thence, S 14°58°41 E a distance of 30.14 feet;
thence, S 43°42°10 E a distance of 69.77 feet;
thence, S 31°36°59 E a distance of 56.76 feet;
thence, S 49°38°46 E a distance of 40.12 feet;
thence, S 45°30°55 E a distance of 40.88 feet;
thence, S 60°16°38 E a distance of 43.39 feet;
thence, S 73°16°24 E a distance of 67.60 feet;
thence, S 53°05°15 E a distance of 15.86 feet;
thence, S 63°37°30 E a distance of 52.31 feet;
thence, S 83°28°21 E a distance of 46.95 feet;
thence, N 86°20°27 E a distance of 61.04 feet;
thence, N 31°59°09 E a distance of 47.07 feet;
thence, N 06°58°38 E a distance of 32.16 feet;
thence, N 72°08°07 E a distance of 7.98 feet;
thence, S 24°51°03 E a distance of 72.35 feet;
thence, S 41°52°47 E a distance of 50.71 feet;
thence, S 54°44°21 E a distance of 38.31 feet;
thence, S 83°39°39 E a distance of 87.15 feet;
thence, S 57°11°12 E a distance of 77.06 feet;
thence, S 41°51°16 E a distance of 88.65 feet;
thence, S 57°39°13 E a distance of 65.60 feet;
thence, S 49°55°38 E a distance of 74.96 feet;
thence, S 61°04°52 E a distance of 43.44 feet;
thence, S 71°46°03 E a distance of 55.45 feet to the point of beginning.
Together with Parcel B (North Parcel):
A tract of land situated in the east half of Section 12, Township 7 South, Range 89 West, and in the west
half of Section 7, Township 7 South, Range 88 West of the 6th Principal Meridian, County of Garfield,
State of Colorado, being more particularly described as follows:
Beginning Garfield County Surveyor's 2 1/2" Brass, found in place, and correctly marked as the southeast
corner of said Section 7, thence S 49°22' 15" E a distance of 5479.54 feet to the true point of beginning;
thence, S 89°43°30" E a distance of 1005.44 feet to a point on the westerly line of the Roaring Fork Transit
Authority Transportation Corridor Easement;
thence, along the westerly line of said Easement S 19°38°52" E a distance of 2644.53 feet;
thence, 494.34 feet along the arc of a curve to the right, having a radius of 2815.00 feet, a central angle of
10°03°42 and subtending a chord bearing of S 14°37°01" E a distance of 493.70 feet;
thence, S 09°35'09" E a distance of 120.78 feet;
thence, departing the westerly line of said Easement N 65°36'14" W a distance of 60.45 feet;
thence, N 49°54'10" W a distance of 64.72 feet;
thence, N 49°54'10" W a distance of 86.97 feet;
thence, N 48°11'10" W a distance of 54.30 feet;
thence, N 56°47'27" W a distance of 123.97 feet;
thence, N 83°47'24" W a distance of 93.00 feet;
thence, N 29°35'31" W a distance of 119.58 feet;
thence, N 78°00'43" W a distance of 33.84 feet;
thence, S 79°41'48" W a distance of 37.80 feet;
thence, S 22°57'52" W a distance of 56.05 feet;
thence, S 59°31'57" W a distance of 45.48 feet;
thence, N 82°32'35" W a distance of 28.23 feet;
thence, N 59°07'03" W a distance of 95.71 feet;
thence, N 71°20'44" W a distance of 85.73 feet;
thence, N 36°43'10" W a distance of 93.22 feet;
thence, N 25°39'22" W a distance of 181.92 feet;
thence, N 65°10'24" W a distance of 98.43 feet;
thence, S 85°02'33" W a distance of 52.20 feet;
thence, S 56°33'52" W a distance of 39.34 feet;
thence, S 20°49'33" W a distance of 42.96 feet;
thence, S 37°27'43" E a distance of 21.60 feet;
thence, N 77°02'57" W a distance of 89.66 feet;
thence, S 70°24'18" W a distance of 70.95 feet;
thence, N 88°59'39" W a distance of 55.55 feet;
thence, S 84°28'58" W a distance of 49.93 feet;
thence, N 14°22'48" E a distance of 68.20 feet;
thence, N 05°11'46" W a distance of 77.59 feet;
thence, N 18°20'05" E a distance of 10.82 feet;
thence, N 22°53'40" E a distance of 44.14 feet;
thence, N 10°34'58" E a distance of 35.11 feet;
thence, N 08°59'51" E a distance of 47.16 feet;
thence, N 03°48'08" E a distance of 36.48 feet;
thence, N 04°40'52" E a distance of 71.03 feet;
thence, N 07°37'51" E a distance of 54.66 feet.
thence, N 29°28'14" W a distance of 63.68 feet;
thence, N 32°00'44" W a distance of 61.05 feet;
thence, N 26°17'29" W a distance of 55.52 feet;
thence, N 38°14'36" W a distance of 44.36 feet;
thence, N 53°11'32" W a distance of 37.73 feet;
thence, N 59°54'48" W a distance of 54.16 feet;
thence, N 87°51'35" W a distance of 36.97 feet;
thence, N 57°33'47" W a distance of 65.70 feet;
thence, N 81°56'22" W a distance of 85.02 feet;
thence, N 04°11'29" W a distance of 158.65 feet;
thence, N 35°50'41" W a distance of 41.30 feet;
thence, N 54°46'03" W a distance of 24.70 feet;
thence, N 28°51'45" W a distance of 209.99 feet;
thence, N 11°58'37" W a distance of 33.82 feet;
thence, N 41°03'46" E a distance of 78.19 feet;
thence, N 06°29'01" W a distance of 117.20 feet;
thence, N 20°05'27" W a distance of 94.24 feet;
thence, N 11°32'03" W a distance of 63.83 feet;
thence, N 07°57'46" W a distance of 141.45 feet;
thence, N 09°56'14" E a distance of 50.76 feet;
thence, N 19°17'44" W a distance of 91.04 feet;
thence, N 44°41'59" W a distance of 134.55 feet;
thence, N 19°23'49" W a distance of 74.18 feet;
thence, N 19°33'06" W a distance of 43.27 feet;
thence, N 21°30'01" W a distance of 72.23 feet;
thence, N 00°16'30" E a distance of 217.77 feet;
thence, N 00°16'30" E a distance of 312.94 feet to the point of beginning.
Together with, Parcel C:
A tract of land situated in the southwest quarter of Section 7, Township 7 South, Range 88 West of the
Sixth Principal Meridian, County of Garfield, State of Colorado, being more particularly described as
follows:
Beginning at a point on the westerly right of way line of Colorado State Highway 82, whence a 2 1/2"
Brass Cap, found in place and properly marked as the southeast comer of said Section 7, bears S 78°01'43"
E a distance of 2054.18 feet;
thence, along said westerly right of way line N 09°35' 10" W a distance of 188.14
thence, 282.60 feet along the arc of a curve to the left having a radius of 2915.00 feet, a central angle of
5°33'17" and subtending a chord bearing of N 12°21'49" W a distance of 282.49 feet;
thence, departing said right of way line S 90°00'00" E a distance of 49.74 feet;
thence, S 06°01'00" E a distance of 202.70 feet;
thence, S 04°34'58" E a distance of 260.70 feet to the point of beginning.
County of Garfield, State of Colorado.
COMMITMENT FOR TITLE INSURANCE
SCHEDULE B — Section 1
REQUIREMENTS
Order Number: 941686-C4
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. 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.
COMMITMENT FOR TITLE INSURANCE
SCHEDULE B — Section 2
EXCEPTIONS
Order Number: 941686-C4
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. Any and all unpaid taxes and assessments and unredeemed tax sales.
9. The effect of inclusion in any general or specific water conservancy, fire protection, soil conservation
or other district or homeowners association or inclusion in any water service or street improvement
area.
10. Reservations or exceptions contained in United States Patents, Acts authorizing the issuance thereof,
recorded November 17, 1893 in Book 12 at Page 255 as Reception No. 16539, recorded June 24,
1893 in Book 12 at Page 235 as Reception No. 16010, recorded December 4, 1894 in Book 12 at
Page 339 as Reception No. 11720, recorded January 15, 1896 in Book 12 at Page 394 as Reception
No. 19002 and recorded January 24, 1906 in Book 56 at Page 534 as Reception No. 31514; 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 by the authority of the United States.
11. Right of way granted unto the Mountain States Telephone and Telegraph Company as set forth in
instruments recorded July 31, 1931 in Book 164 at Page 153 as Reception No. 110551 and in Book
164 at Page 154 as Reception No. 110552.
12. Easement Grant unto The Thompson Glen Ditch Company as set forth in instrument recorded
January 26, 2011 as Reception No. 798016; and Quit Claim Deed unto Carbondale Investments,
LLC, a Texas limited liability company recorded January 26, 2011 as Reception No. 798018.
13. [Intentionally Deleted]
14. Oil, Gas and other minerals reservations as set forth in instrument recorded December 17, 1964 in
Book 362 at Page 445 as Reception No. 228037.
15. Agreement recorded August 19, 1994 in Book 912 at Page 970 as Reception No. 467450.
16. Easements and Rights of Way as set forth in License Grant recorded August 2, 1999 in Book 1142 at
Page 979 as Reception No. 549752 and Amendment recorded November 15, 2000 in Book 1217 at
Page 601 as Reception No. 572246.
17. Oil and Gas reservations as set forth in instrument recorded June 12, 1951 in Book 258 at Page 594
as Reception No. 176326.
18. [Intentionally Deleted].
19. Easements and Rights of Way as set forth in Easement Grant recorded August 2, 1999 in Book 1142
at Page 963 as Reception No. 549751; and Amended to Easement recorded November 15, 2000 in
Book 1217 at Page 588 as Reception No. 572244.
20. Easements and Rights of Way as set forth in License Grant recorded August 2, 1999 in Book 1142 at
Page 993 as Reception No. 549753 and Amendment recorded November 15, 2000 in Book 1217 at
Page 596 as Reception No. 572247 .
21. Easements and Rights of Way as set forth in Grant of Easement, Open Space Easement recorded
August 2, 1999 in Book 1143 at Page 1 as Reception No. 549754; and Amendment to Grant of
Easement, Open Space Easement recorded November 15, 2000 in Book 1217 at Page 593 as
Reception No. 572245.
22. Grant of Irrevocable License and Fiber Optic and Communications Protection Agreement as set forth
in instrument recorded December 15, 1999 in Book 1164 at Page 818 as Reception No. 556678.
23. Grant of Conservation Easement as set forth in instrument recorded February 7, 2000 in Book 1171
at Page 929 as Reception No. 559036; and matters shown on Overall Conservation Easement Plat
recorded December 24, 2008 as Reception No. 760571
24. Easement Agreement as set forth in instrument recorded November 15, 2000 in Book 1217 at Page
610 as Reception No.572249.
25. Ditch Relocation, Operation and Maintenance Agreement as set forth in instrument recorded October
3, 2001 in Book 1292 at Page 61 as Reception No. 589535; and First Supplement and Amendment to
Ditch Relocation, Operation and Maintenance Agreement recorded January 26, 2011 as Reception
No. 798017.
26. Board of County Commissioners of Garfield County, Resolution No. 2008-112 as set forth in
instrument recorded October 7, 2008 as Reception No. 756914.
27. Grant of Easement Agreement as set forth in instrument recorded December 22, 2009 as Reception
No. 760451.
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.
Stewart Title
MINERAL DISCLOSURE
To comply with the provisions of C.R.S. 10-11-123, the Company makes the following disclosure:
(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.
NOTE: THIS DISCLOSURE APPLIES ONLY IF SCHEDULE B, SECTION 2 OF THE TITLE
COMMITMENT HEREIN INCLUDES AN EXCEPTION FOR SEVERED MINERALS.
Stewart Title
DISCLOSURE
The title company, Stewart Title - Roaring Fork Division -Carbondale 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.