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Glenwood Springs Division
1620 Grand Avenue
Glenwood Springs, Colorado 81601
Phone: 970-945-5434
Fax: 1-800-886-2330
Date: June 10, 2010
Order Number; 20060297-C91
Buyer: Spring Valley Holdings, LLC
Seller: Spring Valley Holdings, LLC, a Delaware limited liability company
Property Address: , Glenwood Springs, CO
Please direct all Closing inquiries to:
Susan Sarver
Phone: 970-945-5434 or 866-932-6098
Email Address: susan.sarver@stewart.com
SELLER:
Spring Valley Holdings,
LLC
BUYER/BORROWER:
Spring Valley Holdings,
LLC
SELLING BROKER:
Phone: Phone:
We Appreciate Your Business And Look Forward to Serving You in the Future.
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:
Auflorizal Cotuatt�'gna�
Stewart Title
Glenwood Springs Division
1.620 Grand Avenue
Glenwood Springs, Colorado 81601
Phone: 970-945-5434
Fax: 1-800-886-2330
Order Number: 20060297-C9
stewart
-title guaranty company
Senior Chairman of the Board
Chairman of the Board
President
ALTA Commitment (6/17/06)
COMMITMENT FOR TITLE INSURANCE
SCHEDULE A
1. Effective Date: May 28, 2010, at 7:30 A.M. Al Order Number: 20060297-C9 4
2. Policy or Policies To Be Issued:
(a) A.L.T.A. Owner's (Standard)
To Be Determined
(b) A.L.T.A. Loan
Amount of Insurance
$ TBD
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:
• Spring Valley Holdings, LLC, a Delaware limited liability company as to Parcel a (Excepting
Parcel 2 [the "Director's Parcel"] which lies within Parcel 1
► Spring Valley Holdings, LLC, a Delaware limited liability company (the "Director's
Parcel")
Spring Valley Holdings, LLC, a Delaware limited Liability company, Insured to rights in the
Non -Exclusive Easement Interest described as Parcel 3, subject to the terms, conditions and
obligations of said Agreement described as Parcel 3
5. The land referred to in this Commitment is described as follows:
See Attached Legal Description
Purported Address: Statement of Charges:
These charges are due and payable before a Policy can
Glenwood Springs, Colorado be issued:
Search Report
Order Number: 20060297-C9
ALTA Commitment (6/17/06) — Schedule A
Title Officer: Susan Sarver
Page 1 of 9
V a t
title guaranty company
SCHEDULE A
LEGAL DESCRIPTION
PARCEL 1
A PARCEL OF LAND LOCATED IN SECTIONS 14, 15, 16, 20, 21, 22, 23, 26, 27, 28, 29, 32, 33, AND
34, TOWNSHIP 6 SOUTH, RANGE 88 WEST, SIXTH PRINCIPAL MERIDIAN BEING MORE
PARTICULARLY DESCRIBED AS FOLLOWS:
BEGINNING AT THE NORTHWEST CORNER OF SAID SECTION 20 BEING A 2 -INCH ALUMINUM
CAP (P.E.L.S. 5933);
THENCE S 88°16'08" E 2627.19 FEET ALONG THE NORTH LINE OF SAID SECTION 20 TO THE
NORTH QUARTER CORNER OF SAID SECTION 20 BEING A 2 -INCH ALUMINUM CAP (P,E.L.S.
5933); THENCE S 88°15'48" E 2625.91 FEET ALONG THE NORTH LINE OF SAID SECTION 20 TO
THE NORTHEAST CORNER OF SAID SECTION 20 BEING A 2-1/2 INCH GLO BRASS CAP FOUND
IN PLACE SAID CORNER ALSO BEING ON THE WEST LINE OF SAID SECTION 16; THENCE N
00°00'14" W 2631.77 FEET ALONG THE WEST LINE OF SAID SECTION 16 TO THE EAST
QUARTER CORNER OF SECTION 17, T. 6 S., R. 88 W., 6TH P.M. BEING A 2-1/2 NCH GLO BRASS
CAP FOUND IN PLACE; THENCE N 00°08'04" W 340.70 FEET CONTINUING ALONG THE WEST
LINE OF SAID SECTION 16 TO THE WEST QUARTER CORNER OF SAID SECTION 16 BEING A 2-
1/2 INCH GLO BRASS CAP FOUND IN PLACE; THENCE N 00°01'47' E 1047.99 FEET CONTINUING
11111 ALONG THE WEST LINE OF SAID SECTION 16 TO THE SOUTHWEST CORNER OF A PARCEL OF
LAND DESCRIBED IN BOOK 795, PAGE 980 N THE OFFICE OF THE GARFIELD COUNTY CLERK
AND RECORDER; THENCE THE FOLLOWING THREE COURSES ALONG THE BOUNDARY OF
SAID PARCEL DESCRIBED IN BOOK 795, PAGE 980:
1. THENCE N 89°16'47" E 334.10 FEET; 2. THENCE N 03°35'47" E 252.06 FEET;
3. THENCE N 88°27'52" W 349.87 FEET TO A POINT ON THE WEST LINE OF SAID SECTION 16;
THENCE N 00°01'47" E 977.15 FEET ALONG THE WEST LINE OF SAID SECTION 16 TO THE
NORTHEAST CORNER OF SAID SECTION 17 BEING A 2-1/2 INCH GLO BRASS CAP FOUND IN
PLACE; THENCE N 00°0120" W 344.80 FEET CONTINUING ALONG THE WEST LINE OF SAID
SECTION 16 TO THE NORTHWEST CORNER OF SAID SECTION 16 BEING A 2-1/2 INCH GLO
BRASS CAP FOUND IN PLACE; THENCE N 89°57'15" E 2703.26 FEET ALONG THE NORTH LINE
OF SAID SECTION 16 TO THE NORTH QUARTER CORNER OF SAID SECTION 16 BEING A 2-1/2
INCH GLO BRASS CAP FOUND IN PLACE; THENCE N 89°57'09" E 2637.87 FEET CONTINUING
ALONG THE NORTH LINE OF SAID SECTION 16 TO THE NORTHEAST CORNER OF SAID
SECTION 16 BEING A 2-1/2 INCH GLO BRASS CAP FOUND IN PLACE; THENCE N 8935K'17" E
2638.56 FEET ALONG THE NORTH LINE OF SAID SECTION 15 TO THE NORTH QUARTER
CORNER OF SAID SECTION 15 BEING A 2-1/2 INCH GLO BRASS CAP FOUND IN PLACE;
THENCE S 89°59'36" E 1318.31 FEET CONTINUING ALONG THE NORTH LINE OF SAID SECTION
15 TO THE WEST LINE OF THE NE1/4NE1/4 OF SAID SECTION 15 BEING A 3 -INCH. ALUMINUM
CAP (L.S. 15710) FOUND IN PLACE WHENCE THE NORTHEAST CORNER OF SAID SECTION 15
BEING A 2-1/2 INCH GLO BRASS CAP FOUND IN PLACE BEARS S 89°59'36" E 1318.31 FEET;
THENCE S 00°00'09" E 1312.36 FEET ALONG THE WEST LINE OF THE NEI./4NE1/4 OF SAID
SECTION 15 TO THE SOUTHWEST CORNER OF THE NEI/4NE1/4 OF SAID SECTION 15 BEING A
3 -INCH ALUMINUM CAP (L.S. 15710) FOUND IN PLACE; THENCE N 89°55'46" E 1317.67 FEET
• ALONG THE SOUTH LINE OF THE NE1/4NE1/4 OF SAID SECTION 15 TO THE SOUTHEAST
CORNER OF THE NE1/4NE1/4 OF SAID SECTION 15 BEING A 3 -INCH ALUMINCTM CAP (L.S.
15710) FOUND IN PLACE; THENCE S 89°58'46" E 1320.64 FEET ALONG THE NORTH LINE OF
Order Number: 20060297-C9
ALTA Commitment (6/17/06) — Schedule A
Title Officer: Susan Sarver
Page 2 of 9
to art
Ctitle guaranty company
THE SW1/4NW1/4 OF SAID SECTION 14 TO THE NORTHEAST CORNER OF THE SW1/4NW1/4 OF
SAID SECTION 14 BEING A 3 -INCH ALUMINUM CAP (LS. 15710) FOUND IN PLACE; THENCE S
00°01'34" W 1312.94 FEET ALONG THE EAST LINE OF THE SW1/4NW1/4 OF SAID SECTION 14 TO
• THE SOUTHEAST CORNER OF THE SW1/4NW1/4 OF SAID SECTION 14 BEING A 2 -INCH
ALUMINUM CAP (P.E.L.S. 5933); THENCE S 00°01'19" E 2647.58 FEET ALONG THE EAST LINE
OF THE W1/2SW1/4 OF SAID SECTION 14 TO THE SOUTHEAST CORNER OF THE W 1/2SW I/4 OF
SAID SECTION 14 BEING A 2 -INCH ALUMINUM CAP (P.E.L.S. 5933); THENCE S 89°59'40" E
1318.39 FEET ALONG THE NORTH LINE OF SAID SECTION 23 TO THE NORTH QUARTER
CORNER OF SAID SECTION 23 BEING A 2-1/2 INCH GLO BRASS CAP FOUND IN PLACE;
THENCE S 00°05'23" E 5277.46 FEET ALONG THE EAST LINE OF THE W1/2 OF SAID SECTION 23
TO THE SOUTH QUARTER CORNER OF SAID SECTION 23 BEING A 2-1/2 INCH GLO BRASS CAP
FOUND IN PLACE; THENCE S 00°00'49" W 5529.94 FEET ALONG THE EAST LINE OF THE WI/2
OF SAID SECTION 26 TO THE SOUTH QUARTER CORNER OF SAID SECTION 26 BEING A 2-1/2
INCH GLO BRASS CAP FOUND IN PLACE; THENCE S 84°59'30" W 31.37 FEET ALONG THE
SOUTH LINE OF SAID SECTION 26 TO THE NORTH QUARTER CORNER OF SECTION 35, T. 6 S.,
R. 88 W., 6TH P.M., BEING A 2-1/2 INCH GLO BRASS CAP FOUND IN PLACE; THENCE S 84°41'15"
W 1292.34 FEET ALONG THE SOUTH LINE OF SAID SECTION 26 TO THE SOUTHEAST CORNER
OF LOT 14 OF SAID SECTION 26 BEING A 2 -INCH ALUMINUM CAP (P.E.L.S. 5933); THENCE N
00°21137" E 372.49 FEET ALONG THE EAST LINE OF SAID LOT 14, SECTION 26 TO THE
NORTHEAST CORNER OF SAID LOT 14 BEING A 2 -INCH ALUMINUM CAP (P.E.L.S. 5933);
THENCE N 89053'31" W 1611.72 FEET ALONG THE NORTH LINE OF SAID LOT 14 TO THE
NORTHWEST CORNER OF SAID LOT 14 BEING A 2 -INCH ALUMINUM CAP (P.E.L.S. 5933);
THENCE S 00°00'14" W 525.17 FEET ALONG THE WEST LINE OF SAID LOT 14 TO THE
SOUTHWEST CORNER OF SAID SECTION 26 BEING A 2-1/2 INCH GLO BRASS CAP FOUND IN
PLACE; THENCE N 89°14'59" W 2647.44 FEET ALONG THE SOUTH LINE OF SAID SECTION 27
TO THE SOUTH QUARTER CORNER OF SAID SECTION 27 BEING A 2-1/2 INCH GLO BRASS CAP
FOUND IN PLACE; THENCE N 89°17'11" W 1319.72 FEET ALONG THE NORTH LINE OF SAID
• SECTION 34 TO THE NORTHEAST CORNER OF THE W 1/2NW 1/4 OF SAID SECTION 34 BEING A
2 -INCH ALUMINUM CAP (P.E.L.S. 5933) WHENCE THE NORTHWEST CORNER OF SAID
SECTION 34 BEING A 2 -1/2 -INCH GLO BRASS CAP FOUND IN PLACE BEARS N 89°17'11" W
1319.72 FEET; THENCE S 00°05'58" E 2466.04 FEET ALONG THE EAST LINE OF THE W1/2NW1/4
OF SAID SECTION 34 TO THE SOUTHEAST CORNER OF THE W1/2NW1/4 OF SAID SECTION'34
BEING A 2 -INCH ALUMINUM CAP (P.E.L.S. 5933); THENCE S 89°51'39" W 1389.27 FEET ALONG
THE SOUTH LINE OF THE W 1/2NW I/4 OF SAID SECTION 34 TO THE WEST QUARTER CORNER
OF SAID SECTION 34 BEING A 2 -INCH ALUMINUM CAP (P.E.L.S. 5933); THENCE N 88°27'45" W
2511.99 FEET ALONG THE SOUTH LINE OF THE NE1/4 OF SAID SECTION 33 TO THE CENTER
QUARTER CORNER OF SAID SECTION 33 BEING A 3 INCH ALUMINUM CAP (COUNTY
SURVEYOR) FOUND IN PLACE; THENCE N 88027'28" W 1112.41 FEET ALONG THE SOUTH LINE
OF LOT 6, OF SAID SECTION 33 TO THE SOUTHWEST CORNER OF SAID LOT 6 BEING A 3 INCH
ALUMINUM CAP (COUNTY SURVEYOR) FOUND IN PLACE; THENCE N 01056'25" E 838.15 FEET
ALONG THE WEST LINE OF SAID LOT 6 TO THE SOUTHEAST CORNER OF LOT 5 OF SAID
SECTION 33 BEING A 3 INCH ALUMINUM CAP (COUNTY SURVEYOR) FOUND IN PLACE;
THENCE N 89°14'27" W 1072.10 FEET ALONG THE SOUTH LINE OF SAID LOT 5 TO A POINT ON
THE NORTHERLY RIGHT-OF-WAY OF GARFIELD COUNTY ROAD 119; THENCE THE
FOLLOWING SEVENTEEN COURSES ALONG THE NORTHERLY RIGHT-OF-WAY OF SAID
COUNTY ROAD 119:
1. THENCE ALONG THE ARC OF A NON -TANGENT CURVE TO THE LEFT HAVING A RADIUS
OF 190.00 FEET, AND A CENTRAL ANGLE OF 38°53'15" FOR A DISTANCE ALONG THE CURVE
OF 128.96 FEET; THE CHORD OF SAID CURVE BEARS N 70°21'49" W A DISTANCE OF 126.50
FEET;
2. THENCE N 89°48'27" W 335.07 FEET TO A POINT ON THE WEST LINE OF SAID SECTION 33
WHENCE THE NORTHWEST CORNER OF SAID SECTION 33 BEING A 3 -INCH COUNTY
SURVEYOR'S ALUMINUM CAP FOUND IN PLACE BEARS N 01°14'21" E 1729.72 FEET;
3. THENCE N 89048127" W 746.63 FEET
Order Number. 20060297-C9
ALTA Commitment (6/17/06) — Schedule A
Title Officer: Susan Sarver
Page 3 of 9
title guaranty company
4. THENCE ALONG THE ARC OF A CURVE TO THE RIGHT HAVING A RADIUS OF 9975.00 FEET,
AND A CENTRAL ANGLE OF 01°2323" FOR A DISTANCE ALONG THE CURVE OF 241.95 FEET;
THE CHORD OF SAID CURVE BEARS N 89°06'46" W A DISTANCE OF 241.94 FEET;
• 5. THENCE N 88°25'04" W 886.82 FEET;
6. THENCE ALONG THE ARC OF A CURVE TO THE RIGHT HAVING A RADIUS OF 30.00 FEET,
AND A CENTRAL ANGLE OF 101°43'17" FORA DISTANCE ALONG THE CURVE OF 53.26 FEET;
THE CHORD OF SAID CURVE BEARS N 37°33'26" W A DISTANCE OF 46.54 FEET;
7. THENCE 13°18'13" E 1531.48 FEET;
8. THENCE ALONG THE ARC OF A CURVE TO THE LEFT HAVING A RADIUS OF 715.00 FEET,
AND A CENTRAL ANGLE OF 15°55'12" FOR A DISTANCE ALONG THE CURVE OF 198.67 FEET;
THE CHORD OF SAID CURVE BEARS N 05°20'37" E A DISTANCE OF 198.03 FEET TO A POINT ON
THE SOUTH LINE OF SAID SECTION 29 WHENCE THE SOUTHEAST CORNER OF SAID SECTION
29 BEARS S 89°03'23" E 1570.16 FEET;
9. THENCE ALONG THE ARC OF A CURVE TO THE LEFT HAVING A RADIUS OF 715.00 FEET,
AND A CENTRAL ANGLE OF 29°05'27" FOR A DISTANCE ALONG THE CURVE OF 363.03 FEET;
THE CHORD OF SAID CURVE BEARS N 17°09'43" W A DISTANCE OF 359.14 FEET;
10. THENCE ALONG THE ARC OF A CURVE TO THE LEFT HAVING A RADIUS OF 1853.11 FEET,
AND A CENTRAL ANGLE OF 14°56'46" FOR A DISTANCE ALONG THE CURVE OF 483.40 FEET;
THE CHORD OF SAID CURVE BEARS N 39°10'49" W A DISTANCE OF 482.03 FEET;
11. THENCE N 46°39'12" W 512.11 FEET;
12. THENCE ALONG THE ARC OF A CURVE TO THE LEFT HAVING A RADIUS OF 544.29 FEET,
AND A CENTRAL ANGLE OF 29°19'12" FOR A DISTANCE ALONG THE CURVE OF 278.53 FEET;
THE CHORD OF SAID CURVE BEARS N 61°18'49" W A DISTANCE OF 275.50 FEET;
13. THENCE N 75°58'25" W 274.72 FEET;
14. THENCE ALONG THE ARC OF A CURVE TO THE RIGHT HAVING A RADIUS OF 777.56 FEET,
AND A CENTRAL ANGLE OF 10°01'45" FOR A DISTANCE ALONG THE CURVE OF 136.11 FEET;
THE CHORD OF SAID CURVE BEARS N 70°57'32" W A. DISTANCE OF 135.93 FEET;
• 15. THENCE N 65°56'40" W 288.79 FEET;
16. THENCE ALONG THE ARC OF A CURVE TO THE RIGHT HAVING A RADIUS OF 934.49 FEET,
AND A CENTRAL ANGLE OF 12°43'09" FOR A DISTANCE ALONG THE CURVE OF 207.45 FEET;
THE CHORD OF SAID CURVE BEARS N 59°35'05" W A DISTANCE OF 207.03 FEET;
17. THENCE N 53°13'30" W 363.38 FEET TO A POINT ON THE WEST LINE OF LOT 26 OF SAID
SECTION 29;
THENCE N 00°30'27" E 619.90 FEET ALONG THE WEST LINE OF SAID LOT 26 TO THE
NORTHWEST CORNER OF SAID LOT 26; THENCE N 90°00'00" W 65.41 FEET TO A FENCE POST
WTTH A PK -NAIL IN THE TOP AND ACCEPTED AS THE SOUTHWEST CORNER OF LOT 20 OF
SAID SECTION 29; THENCE N 00°34'26" E 2165.03 FEET ALONG THE ACCEPTED WEST LINE OF
LOTS 20, 16, AND 8 OF SAID SECTION 29 TO A RED PLASTIC CAP (P.L.S. 27929); THENCE N
00°32'35" E 431.30 FEET TO THE SOUTHWEST CORNER OF A PARCEL OF LAND DESCRIBED IN
BOOK 527, PAGE 951 IN THE OFFICE OF THE GARFIELD COUNTY CLERK AND RECORDER;
THENCE ALONG THE SOUTHERLY BOUNDARY OF SAID PARCEL OF LAND DESCRIBED IN
BOOK 527, PAGE 951 S 89°32'20" E 431.36 FEET; THENCE THE FOLLOWING TWO COURSES
ALONG THE SOUTHERLY BOUNDARY OF A PARCEL OF LAND DESCRIBED IN BOOK 872,
PAGE 768 IN THE OFFICE OF THE GARFIELD COUNTY CLERK AND RECORDER:
1. THENCE S 50°51'48" E 497.50 FEET;
2. THENCE S 57°58'21" E 57.39 FEET TO A POINT ON THE SOUTHERLY BOUNDARY OF A
PARCEL OF LAND DESCRIBED IN BOOK 915, PAGE 112 IN THE OFFICE OF THE GARFIELD
COUNTY CLERK AND RECORDER;
THENCE S 57°58'21" E 305.00 FEET ALONG THE SOUTHERLY BOUNDARY OF SAID PARCEL OF
LAND DESCRIBED IN BOOK 915, PAGE 112;
THENCE S 33°33'03" E 149.53 FEET ALONG THE SOUTHWESTERLY BOUNDARY OF A PARCEL
OF LAND DESCRIBED IN BOOK 621, PAGE 219 IN THE OFFICE OF THE GARFIELD COUNTY
• CLERK AND RECORDER;
THENCE S 81°36'23" E 135.95 FEET ALONG THE SOUTHERLY BOUNDARIES OF PARCELS OF
LAND DESCRIBED IN BOOK 621, PAGE 219 AND BOOK 965, PAGE 509 IN THE OFFICE OF THE
Order Number: 20060297-C9
ALTA Commitment (6/17/06) - Schedule A
Title Officer: Susan Sarver
Page 4 of 9
tewart
title guaranty company
GARFIELD COUNTY CLERK AND RECORDER TO A POINT ON THE BOUNDARY OF SAID
PARCEL OF LAND DESCRIBED IN BOOK 965, PAGE 509; THENCE THE FOLLOWING THREE
COURSES ALONG THE SOUTHEASTERLY BOUNDARY OF SAID PARCEL DESCRIBED IN BOOK
965, PAGE 509:
1. THENCE S 81°42'23" E 302.25 FEET;
2. THENCE N 05°12'20" E 149.94 FEET;
3. THENCE ALONG THE ARC OF A CURVE TO THE RIGHT HAVING A RADIUS OF 55.23 FEET,
AND A CENTRAL ANGLE OF 40°3374" FOR A DISTANCE ALONG THE CURVE OF 39.09 FEET;
THE CHORD OF SAID CURVE BEARS N 25°28'41" E A DISTANCE OF 38.28 FEET TO A POINT ON
THE SOUTHERLY BOUNDARY OF A PARCEL OF LAND DESCRIBED IN BOOK 808, PAGE 803 IN
THE OFFICE OF THE GARFIELD COUNTY CLERK AND RECORDER; THENCE THE FOLLOWING
THREE COURSES ALONG THE EASTERLY BOUNDARY OF S.AM PARCEL DESCRIBED
IN BO
808, PAGE 803:
1. THENCE S 81°42'37" E 123.19 FEET;
2. THENCE N 21°00'23" W 820.84 FEET TO A POINT ON THE SOUTH LINE OF SAID SECTION 20
WHENCE THE SOUTH QUARTER CORNER OF SAID SECTION 20 BEING A 2 -INCH ALUMINUM
CAP (P.E.L.S. 5933) BEARS N 88°32'13" W 248.98 FEET;
3. THENCE N 21°0023" W 137.24 FEET TO A POINT ON THE NORTHERLY RIGHT-OF-WAY OF
GARFIELD COUNTY ROAD 115;
THENCE THE FOLLOWING TWO COURSES ALONG THE NORTHERLY RIGHT-OF-WAY OF SAID
COUNTY ROAD 115:
1. THENCE ALONG THE ARC OF A NON -TANGENT CURVE TO THE RIGHT HAVING A RADIUS
OF 5288.82 FEET, AND A CENTRAL ANGLE OF 02°43'04" FOR A DISTANCE ALONG THE CURVE
OF 250.87 FEET; THE CHORD OF SAID CURVE BEARS N 73°59'48" W A DISTANCE OF 250.84
FEET;
2. THENCE N 72°38'16" W 1244.87 FEET TO A POINT ON THE ACCEPTED EAST LINE OF LOT 4
OF SAID SECTION 20 WHENCE THE SOUTHEAST CORNER OF A PARCEL OF LAND RECORDED
• UNDER RECEPTION NUMBER 467225 IN THE OFFICE OF THE GARFIELD COUNTY CLARK AND
RECORDER BEING A 2 -INCH ALUMINUM CAP (P.E.L.S. 5933) AND ACCEPTED AS A POINT ON
THE EAST LINE OF SAID LOT 4 BEARS S 01°51'02" W 9.41 FEET;
THENCE N 01°51'02" E 490.79 FEET ALONG THE ACCEPTED EAST LINE OF SAID LOT 4 TO THE
NORTHEAST CORNER OF SAID LOT 4 BEING A 2 -INCH ALUMINUM CAP (P.E.L.S. 5933);
THENCE N 88°18'52" W 1429.59 FEET ALONG THE NORTH LINE OF SAID LOT 4 AND LOT 3 OF
SAID SECTION 20 TO THE NORTHWEST CORNER OF SAID LOT 3 BEING A 2 -INCH ALUMINUM
CAP (P.E.L.S. 5933) WHENCE THE SOUTHWEST CORNER OF SAID LOT 20 BEING A 2-1/2 INCH
ALUMINUM CAP (P.L.S. 27929) FOUND IN PLACE BEARS S 00°06'31" E 1008.11 FEET; THENCE N
00°06'31" W 1630.93 FEET ALONG THE WEST LINE OF SAID SECTION 20 TO THE WEST
QUARTER CORNER OF SAID SECTION 20 BEING A 2 -INCH ALUMINUM CAP (P.E.L.S. 5933);
THENCE N 00°04'12" E 2632.88 FEET ALONG THE WEST LINE OF SAID SECTION 20 TO THE
NORTHWEST CORNER OF SAID SECTION 20 BEING THE POINT OF BEGINNING
EXCEPTING THE FOLLOWING FIVE PARCELS:
1) MIDDLE EXCEPTION PARCEL
LEGAL DESCRIPTION
A PARCEL OF LAND LOCATED IN THE EAST HALF OF SECTION 29 AND THE NORTHWEST
QUARTER OF SECTION 28, TOWNSHIP 6 SOUTH, RANGE 88 WEST, OF THE SIXTH PRINCIPAL
MERIDIAN, SAID PARCEL BEING FURTHER DESCRIBED AS FOLLOWS:
BEGINNING AT A POINT ON THE EASTERLY LINE OF SAID SECTION 29 WHENCE THE
NORTHEAST CORNER OF SECTION 29 BEING A 2-1/2 INCH GLO BRASS CAP FOUND IN PLACE
BEARS N 01°09128" E 1250.72 FEET THENCE S 01°09'28" W 346.32 FEET ALONG THE EAST LINE
• OF SAID SECTION 29 TO A POINT ON THE NORTHERLY LINE OF A PARCEL OF LAND
DESCRIBED IN BOOK 495, PAGE 596 IN THE OFFICE OF THE GARFIELD COUNTY CLERK AND
RECORDER, WHENCE THE WEST QUARI"hR CORNER OF SAID SECTION 28 BEING A 3 INCH
Order Number 20060297-C9
ALTA Commitment (6/17/06) — Schedule A
Title Officer: Susan Sarver
Page 5 of 9
SteWart
title guaranty company
ALUMINUM CAP (COUNTY SURVEYOR) BEARS S 01°09'28" E 987.24 FEET; THENCE S 88°09'03"
E 557.11 FEET ALONG THE NORTHERLY LINE OF SAID PARCEL OF LAND DESCRIBED IN
BOOK 495, PAGE 596 TO A POINT ON THE SOUTHERLY RIGHT-OF-WAY LINE OF GARFIELD
COUNTY ROAD 115; THENCE ALONG THE ARC OF A NON -TANGENT CURVE TO THE LEFT
HAVING A RADIUS OF 826.12 FEET, AND A CENTRAL ANGLE OF 17°50'11" FOR A DISTANCE
ALONG THE CURVE OF 257.17 FEET; THE CHORD OF SAID CURVE BEARS S 64°07'08".E A
DISTANCE OF 256.14 FEET ALONG THE SOUTHERLY RIGHT-OF-WAY OF SAID COUNTY ROAD
115; THENCE S 73°02'14" E 43.18 FEET CONTINUING ALONG THE SOUTHERLY RIGHT-OF-WAY
LINE OF SAID COUNTY ROAD 115 TO A POINT IN THE EASTERLY LINE OF SAID PARCEL OF
LAND DESCRIBED IN BOOK 495, PAGE 596; THENCE S 00°01'52" W 114.31 FEET ALONG THE
EASTERLY BOUNDARY OF SAID PARCEL OF LAND DESCRIBED IN BOOK 495, PAGE 596 TO
THE SOUTHEAST CORER OF SAID PARCEL OF T AND DESCPJ BED IN ROOK 495, PAGE 596;
THENCE THE FOLLOWING FOUR COURSES ALONG THE SOUTHERLY BOUNDARY OF SAID
PARCEL OF LAND DESCRIBED IN BOOK 495, PAGE 596:
1. THENCE N 89°58'08" W 327.05 FEET;
2. THENCE S 54°10'41" W 185.54 FEET;
3. THENCE N 42°16'19" W 154.20 FEET;
4. THENCE S 59°30'35" W 216.33 FEET TO A POINT ON THE BOUNDARY OF A PARCEL OF
LAND DESCRIBED IN BOOK 988, PAGE 802 IN THE OFFICE OF THE GARFIELD COUNTY CLERK
AND RECORDER;
THENCE THE FOLLOWING SIX COURSES AROUND THE EASTERLY, NORTHERLY, AND
SOUTHERLY BOUNDARIES OF SAID PARCEL OF LAND DESCRIBED IN BOOK 988, PAGE 802:
1. THENCE S 13°45'40" E 111.74 FEET;
2. THENCE S 89°58'08" E 101.60 FEET;
3. THENCE S 00°01'52" W 69.06 FEET;
4. THENCE S 88°48'28" E 25.57 FEET;
5. THENCE S 00°37'24" E 148.37 FEET;
6. THENCE S 14°45'31" E 57.78 FEET;
THENCE S 58°03'40" W 625.36 FEET ALONG THE SOUTHERLY BOUNDARIES OF PARCELS OF
LAND DESCRIBED IN BOOK 988, PAGE 802 AND BOOK 736, PAGE 345 IN THE OFFICE OF THE
GARFIELD COUNTY CLERK AND RECORDER TO A POINT ON THE SOUTHERLY BOUNDARY
OF SAID PARCEL OF LAND DESCRIBED IN BOOK 736, PAGE 345; THENCE ALONG THE
SOUTHERLY AND WESTERLY BOUNDARIES OF SAID PARCEL OF LAND DESCRIBED IN BOOK
736, PAGE 345 THE FOLLOWING FIVE COURSES:
1. THENCE N 74°53'28" W 35.87 FEET;
2. THENCE N 66°59'35" W 380.19 FEET;
3. THENCE N 50°53'55" W 27.02 FEET;
4. THENCE N 25°54'08" W 19.09 FEET;
5. THENCE N 05°08'09" W 580.16 FEET TO A POINT ON THE WESTERLY BOUNDARY OF A
PARCEL OF LAND DESCRIBED IN BOOK 886, PAGE 329 IN THE OFFICE OF THE GARFIELD
COUNTY CLERK AND RECORDER; THENCE ALONG THE WESTERLY AND NORTHERLY
BOUNDARIES OF SAID PARCEL OF LAND DESCRIBED IN BOOK 886, PAGE 329 THE
FOLLOWING THREE COURSES:
1. THENCE N 05°36'42" W 538.91 FEET
2. THENCE N 04°18'35" W 374.95 FEET;
3. THENCE N 82°52'22" E 323.76 FEET TO A POINT ON THE SOUTHERLY RIGHT-OF-WAY LINE
OF SAID GARFIELD COUNTY ROAD 115;
THENCE ALONG THE SAID RIGHT-OF-WAY LINE THE FOLLOWING THREE COURSES:
1. THENCE ALONG THE ARC OF A NON -TANGENT CURVE TO THE LEFT HAVING A RADIUS
OF 993.47 FEET, AND A CENTRAL ANGLE OF 03°01'08" FORA DISTANCE ALONG THE CURVE
OF 52.35 FEET; THE CHORD OF SAID CURVE BEARS S 34°41'10" E A DISTANCE OF 52.34 FEET;
2. THENCE ALONG THE ARC OF A CURVE TO THE LEFT HAVING A RADIUS OF 480.00 FEET,
M AND A CENTRAL ANGLE OF 36°06'40" FOR A DISTANCE ALONG THE CURVE OF 302.52 FEET;
THE CHORD OF SAID CURVE BEARS S 54°15'04" E A DISTANCE OF 297.54 FEET;
3. THENCE S 72°18'24" E 273.90 FEET TO THE POINT OF BEGINNING
Order Number: 20060297-C9
ALTA Commitment (6/17/06) - Schedule A
Title Officer: Susan Sarver
Page 6 of 9
E_ttewart
title guaranty company
2) EAST EXCEPTION PARCEL
• LEGAL DESCRIPTION
A PARCEL OF LAND LOCATED IN SECTION 28, TOWNSHIP 6 SOUTH, RANGE 88 WEST, OF THE
SIXTH PRINCIPAL MERIDIAN BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS:
BEGINNING AT THE SOUTH QUARTER CORNER OF SECTION 28 BEING A 2 -INCH ALUMINUM
CAP (P.E.L.S. 5933); THENCE N 88°33'15" W 1084.24 FEET ALONG THE SOUTH LINE OF
SECTION 28 TO A POINT ON THE WESTERLY BOUNDARY OF A PARCEL OF LAND DESCRIBED
IN BOOK 938, PAGE 691 IN THE OFFICE OF THE GARFIELD COUNTY CLERK AND RECORDER;
WHENCE TT -TE SOUTHWEST CORNER OF SECTION 28 BEING A 3 INCH COUNTY SURVEYOR
ALUMINUM CAP FOUND IN PLACE BEARS S 88°33'15" E 1495.74 FEET; THENCE N 01°00'28" E
2568.63 FEET ALONG THE WESTERLY BOUNDARY OF SAID PARCEL OF LAND DESCRIBED IN
BOOK 938, PAGE 691 TO A POINT ON THE WESTERLY BOUNDARY OF A PARCEL OF LAND
DESCRIBED IN BOOK 638, PAGE 941 IN THE OFFICE OF THE GARFIELD COUNTY CLERK AND
RECORDER; THENCE N 01°01'12" E 691.65 FEET ALONG THE WESTERLY BOUNDARY OF SAID
PARCEL OF LAND DESCRIBED IN BOOK 638, PAGE 941 TO A POINT ON THE SOUTHERLY
RIGHT-OF-WAY LINE OF GARFIELD COUNTY ROAD 115; THENCE ALONG THE SOUTHERLY
RIGHT-OF-WAY LINE OF SAID COUNTY ROAD 115 THE FOLLOWING SEVEN COURSES:
1. ALONG THE ARC OF A NON -TANGENT CURVE TO THE RIGHT HAVING A RADIUS OF 594.56
FEET, AND A CENTRAL ANGLE OF 41°58'28" FOR A DISTANCE ALONG THE CURVE OF 435.57
FEET; THE CHORD OF SAID CURVE BEARS S 43°10'12" E A DISTANCE OF 425.90 FEET;
2. THENCE S 22°10'58" E 307.62 FEET;
3. THENCE ALONG THE ARC OF A CURVE TO THE LEFT HAVING A RADIUS OF 1421.75 FEET,
AND A CENTRAL ANGLE OF 15°49'57" FOR A DISTANCE ALONG THE CURVE OF 392.87 FEET;
THE CHORD OF SAID CURVE BEARS S 30°05'57" E A DISTANCE OF 391.63 FEET;
S 4. THENCE ALONG THE ARC OF A CURVE TO THE RIGHT HAVING A RADIUS OF 370.00 FEET,
AND A CENTRAL ANGLE OF 32°43'14" FOR A DISTANCE ALONG THE CURVE OF 211.30 FEET;
THE CHORD OF S.AID CURVE BEARS S 21°39'19" E A DISTANCE OF 208.44 FEET;
5. THENCE ALONG THE ARC OF A CURVE TO THE LEFT HAVING A RADIUS OF 2437.42 FEET,
AND A CENTRAL ANGLE OF 28°42'24" FOR A DISTANCE ALONG THE CURVE OF 122L22 FEET;
THE CHORD OF SAID CURVE BEARS S 19°38'54" E A DISTANCE OF 1208.48 FEET;
6. THENCE S 34°00'06" E 1152.91 FEET;
7. THENCE ALONG THE ARC OF A CURVE TO THE LEFT HAVING A RADIUS OF 430.00 FEET,
AND A CENTRAL ANGLE OF 23°03'17" FOR A DISTANCE ALONG THE CURVE OF 173.02 FEET;
THE CHORD OF SAID CURVE BEARS S 45°31'45" E A DISTANCE OF 171.86 FEET TO A POINT ON
THE SOUTH LINE OF SECTION 28; WHENCE THE SOUTHEAST CORNER OF SECTION 28 BEING
A 2-1/2 INCH GLO BRASS CAP FOUND IN PLACE BEARS S 86°11'17" E 1745.44 FEET;
THENCE N 86°11'17" W 829.99 FEET ALONG THE SOUTH LINE OF SECTION 28 TO THE POINT
OF BEGINNING
3) SECTION 15 EXCEPTION PARCEL
LEGAL DESCRIPTION
A PARCEL OF LAND BEING THE NORTHWEST QUARTER OF THE SOUTHWEST QUARTER OF
SECTION 15, TOWNSHIP 6 SOUTH RANGE 88 WEST, OF THE SIXTH PRINCIPAL MERIDIAN,
SAID PARCEL BEING FURTHER DESCRIBED AS FOLLOWS:
BEGINNING AT THE WEST QUARIbR CORNER OF SAID SECTION 15 BEING A 2-1/2 INCH GLO
BRASS CAP FOUND IN PLACE, THENCE N 89°51'07" E 1323.59 FEET ALONG THE NORTH LINE
• OF THE NW1/4SW1/4 OF SAID SECTION 15 TO THE NORTHEAST CORNER OF THE NW1/4SW 1/4
OF SAID SECTION 15; THENCE S 00°01'49" E 1540.50 FEET ALONG THE EAST LINE OF THE
NW1/4SW1/4 OF SAID SECTION 15 TO THE SOUTHEAST CORNER OF THE NW1/4SW1/4;
Order Number: 20060297-C9
ALTA Commitment (6/17/06) - Schedule A
Title Officer: Susan Sarver
Page 7 of 9
-title guaranty company
•
THENCE S 89°5825" W 1323.59 FEET ALONG THE SOUTH LINE OF THE NW1/4SW1/4 OF SAID
SECTION 15 TO THE SOUTHWEST CORNER OF THE NW 1/4SW1/4 OF SAID SECTION 15;
WHENCE THE SOUTHWEST CORNER OF SAID SECTION 15 BEING A 2-1/2 INCH GLO BRASS
CAP FOUND IN PLACE BEARS S 00°01'49" E 1537.70 FEET; THENCE N 00°01'49" W 1537.70 FEET
ALONG THE WEST LINE OF THE NW 1/4SW 1/4 OF SAID SECTION 15 TO THE NORTHWEST
CORNER OF THE NW1/4SW1/4 OF SAID SECTION 15 BEING THE POINT OF BEGINNING
5) GARFIELD COUNTY ROAD 114 EXCEPTION PARCEL LEGAL DESCRIPTION
A PARCEL OF LAND LOCATED 1N TEM NORTHDST QUARTER OF SECTION 33, TOWNSHIP 6
SOUTH, RANGE 88 WEST, OF THE SIXTH PRINCIPAL MERIDIAN, SAID PARCEL BEING THE
RIGHT-OF-WAY FOR GARFIELD COUNTY ROAD 114 AND THE INTERSECTION OF GARFIELD
COUNTY ROAD 114 WITH GARFIELD COUNTY ROAD 115, SAID PARCEL BEING FURTHER
DESCRIBED AS FOLLOWS:
BEGINNING AT A POINT ON THE SOUTHERN LINE OF THE NORTHEAST QUARTER OF SAID
SECTION 33 WHENCE THE EAST QUARTER CORNER FOR SAID SECTION 33 BEING A 2 -INCH
ALUMINUM CAP BEARS S 88°27'45" E 551.40 FEET SAID POINT ALSO BEING A POINT ON THE
EASTERLY RIGHT-OF-WAY OF GARFIELD COUNTY ROAD 114; THENCE N 88°27'45" W 77.11
FEET ALONG SAID SOUTHERN LINE OF THE NORTHEAST QUARTER TO A POINT ON THE
WESTERLY BOUNDARY OF SAID COUNTY ROAD 114, WHENCE THE CENTER QUARTER FOR
SAID SECTION 33 BEING A 2 -1/2 -INCH ALUMINUM CAP FOUND IN PLACE BEARS N 88°27'45" W
1883.48 FEET;
THENCE THE FOLLOWING TWO COURSES ALONG THE WESTERLY RIGHT-OF-WAY OF SAID
COUNTY ROAD 114:
1. N 40°27'03" E 99.05 FEET;
2. THENCE ALONG THE ARC OF A CURVE TO THE LEFT HAVING A RADIUS OF 270.00 FEET,
AND A CENTRAL ANGLE OF 69°20'35" FOR A DISTANCE ALONG THE CURVE OF 326.77 FEET;
THE CHORD OF SAID CURVE BEARS N 05°46'46" E A DISTANCE OF 307.19 FEET TO A POINT ON
THE SOUTHERLY RIGHT-OF-WAY OF GARFIELD COUNTY ROAD 115;
THENCE THE FOLLOWING THREE COURSES ALONG THE SOUTHERN RIGHT-OF-WAY OF
COUNTY ROAD 115:
1. ALONG THE ARC OF A NON -TANGENT CURVE TO THE LEFT HAVING A RADIUS OF 759.53
FEET, AND A CENTRAL ANGLE OF 06°00'12" FOR A DISTANCE ALONG THE CURVE OF 79.58
FEET; THE CHORD OF SAID CURVE BEARS S 31°53'38" E A DISTANCE OF 79.55 FEET;
2. THENCE ALONG THE ARC OF A CURVE TO THE LEFT HAVING A RADIUS OF 230.00 FEET,
AND A CENTRAL ANGLE OF 53°37'43" FOR A DISTANCE ALONG THE CURVE OF 215.28 FEET;
THE CHORD OF SAID CURVE BEARS S 61°42'35" E A DISTANCE OF 207.51 FEET;
3. THENCE ALONG THE ARC OF A CURVE TO THE LEFT HAVING A RADIUS OF 2201.07 FEET,
AND A CENTRAL ANGLE OF 03°41'58" FORA DISTANCE ALONG THE CURVE OF 142.12 FEET;
THE CHORD OF SAID CURVE BEARS N 89°37'34" E A DISTANCE OF 142.09 FEET TO A POINT ON
THE EASTERLY RIGHT-OF-WAY OF GARFIELD COUNTY ROAD 114;
THENCE THE FOLLOWING TWO COURSES ALONG THE EASTERLY RIGHT-OF-WAY OF
COUNTY ROAD 114:
1. ALONG THE ARC OF A NON -TANGENT CURVE TO THE LEFT HAVING A RADIUS OF 470.00
FEET, AND A CENTRAL ANGLE OF 47°19'32" FOR A DISTANCE ALONG THE CURVE OF 388.21
FEET; THE CHORD OF SAID CURVE BEARS S 64°06'49" W A DISTANCE OF 377.27 FEET;
2. THENCE S 40°27'03" W 70.18 FEET TO THE POINT OF BEGINNING
THE RIGHT-OF-WAY LINES OF SAID RIGHT-OF-WAY SHALL BE PROLONGED OR SHORTENED
TO BEGIN AND END ON AND CONFORM TO THE PROPERTY BOUNDARY LINES.
Order Number: 20060297-C9
ALTA Commitment (6/17/06) — Schedule A
Title Officer: Susan Sarver
Page 8 of 9
E teY Y ca
PARCEL 2 (THE "DIRECTOR'S PARCEL"):
A PARCEL OF LAND WITHIN SECTION 33, TOWNSHIP 6 SOUTH, RANGE 88 WEST OF THE 6m
• PRINCIPAL MERIDIAN AND BEING FURTHER DESCRIBED AS FOLLOWS:
COMMENCING AT THE TRUE POINT OF BEGINNING, WHENCE THE CENTER OF SECTION 33,
BEING A 2 -1/2 -NCH ALUMINUM CAP, BEARS N 88°27'45" W A DISTANCE OF 123.09 FEET;
THENCE N 00°00'00" E A DISTANCE OF 1398.31 FEET; THENCE S 90°00`00" E A DISTANCE OF
942.50 FEET; THENCE S 00°04'09" E A DISTANCE OF 680.56 FEET; THENCE S 34°36'11" E A
DISTANCE OF 919.80 FEET TO A POINT ON THE SOUTH LINE OF THE SOUTHEAST QUARTER
OF THE NORTHEAST QUARTER OF SAID SECTION 33; THENCE N 88°27'45" W A DISTANCE OF
333.30 FEET ALONG THE SAID SOUTH LINE TO THE CENTER EAST SIXTEENTH CORNER OF
SAID SECTION 33 BEING A 2 -1/2 -INCH A UMT.A?LrM CAP; THENCE N 88°2745" W A DISTANCE
OF 1132.90 FEET ALONG THE SOUTH LINE OF THE SOUTHWEST QUARTER OF THE
NORTHEAST QUARTER OF SAID SECTION 33 TO THE POINT OF BEGINNING
•
•
PARCEL 3:
Thirty foot roadway easement from Hopkins Ranch Ltd. to Spring Valley Holding USA Recorded
September 10, 1993 in Book 875 at Page 126 as Reception No. 452323 and re-recorded January 13, 1994 in
Book 889 at Page 681 as Reception No. 457969.
County of Garfield, State of Colorado
Order Number. 20060297-C9
ALTA Commitment (6/17/06) — Schedule A
Title Officer: Susan Sarver
Page 9 of 9
E te'V aI t
title guaranty company
•
COMMITMENT FOR TITLE INSURANCE
SCHEDULE B — Section 1
REQUIREMENTS
Order Number: 20060297-C9
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. Execution of Affidavit as to Debts and Liens, which is attached or will be provided at closing.
4. Payment of all taxes and assessments currently due and payable, if any.
5. Recordation of a Statement of Authority for Spring Valley Holdings, LLC, a Delaware limited
liability Company. (Form available from Stewart Title)
6. Release by the Public Trustee of Garfield County of the Deed of Trust from Spring Valley
Holdings, LLC, a Delaware limited liability company for the use of Bank of America, N.A. to
secure $18,500,000.00, dated November 18, 2005 recorded November 21, 2005 in. Book. 1747 at
Page 378 as Reception No. 686805.
NOTE: Assignment of Leases and Rents and Other Income (Garfield County, Colorado) recorded
November 21, 2005 in Book 1747 at Page 427 as Reception No. 686806>
Modification of Deed of Trust and Assignment of Leases and Rents, filed in connection with the
above Deed of Trust recorded October 13, 2008 as Reception No. 757160.
7. Deed from vested owner, vesting fee simple title in purchaser(s).
8. Deed of Trust from the Borrower to the Public Trustee for the use of the proposed lender to secure
the loan.
Order Number: 20060297-C9
ALTA Commitment (6/17/06) — Schedule B 1
Page 1 of 1
r stewart
title guaranty company
CONLVHTMENT FOR TITLE INSURANCE
SCHEDULE B — Section 2
EXCEPTIONS
Order Number: 20060297-C9
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 any unredeemed tax sales.
9. The effect of inclusions in any of the following district authorities: Garfield County - Social Service;
Garfield County - Capital Expend; Garfield County -Road and Bridge; Colorado Mountain College; School
District RE -1; Colorado River Water Conservancy; Basalt Water Conservancy; Springy Valley Sanitation;
Garfield County.
10. Farm and Pasture Lease dated January 1, 2003 by and among Spring Valley Development, Inc., Spring
Valley Holdings, USA, Ltd., and Nieslanik Ranch, LLC.
11. 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, as reserved in United States Patent recordedas
follows:
DATE RECORDED BOOK PAGE RECEPTION NO.
August 8, 1896 12 430 19517
April 11, 1923 112 388 82446
March 26, 1965 364 486 229186
Order Number: 20060297-C9
ALTA Commitment (6/17/06) — Schedule B 2
Page 1 of 7
tes w
Esay t
title guaranty company
September 8, 1896 12 435 19569
September 1, 1906 56 557 32339
June 2, 1916 71 606 54279
and as shown on the ALTA/ACSM Land Title Survey of Spring Valley Ranch P.U.D. by Gamba &
Associates, Inc., dated November 15, 2005, by Michael J. Gamba, P.E. & P.L.S. No. 28036.
12. Right of way for ditches or canals constructed by the authority of the United States, as reserved in United
States Patent recorded as follows:
DAVE RECORDED BOOK PAGE RECEPTION NO.
August 8, 1896 12 430 19517
December 7, 1912 71 582 45724
April 11, 1923 112 388 82446
February 28, 1926 112 435 94056
October 31, 1939 194 590 137373
February 26, 1952 263 234 178630
February 26, 1952 263 235 178631
February 26, 1952 263 236 178632
February 26, 1952 263 237 178633
February 26, 1952 263 238 178634
February 26, 1952 263 240 178636
March 3, 1952 263 271 178688
March 3, 1952 263 276 178689
March 3, 1952 263 272 178690
March 26, 1965 364 486 229186
• September 8, 1896 12 435 19569
September 1, 1906 56 557 32339
June 2, 1916 71 606 54279
April7, 1923 112 558 82381
May 20, 1940 194 617 139733
February 26, 1952 263 231 178627
February 26, 1952 263 233 178629
February 26, 1952 263 239 178635
February 26, 1952 263 241 178637
February 26, 1952 263 232 178628
AND AS SHOWN ON THE ALTAJACSM Land Title Survey of Spring Valley Ranch P.U.D. by Gamba
& Associates, Inc., dated November 15, 2005, by Michael J. Gamba, P.E. & P.L.S. No. 28036.
13. All rights under an application by the Glenwood High Line Railway Company, approved November 9,
1893 under Act of March 3, 1875, being an application for right of way, as reserved in United. States Patent
recorded December 7, 1912 in Book 71 at Page 582 as Reception No. 45724 and as shown on the
ALTA/ACSM Land Title Survey of Spring Valley Ranch P.U.D. by Gamba & Associates, Inc., dated
November 15, 2005, by Michael J. Gamba, P.E. & P.L.S. No. 28036.
14. Conveyance from the U.S. to Scott C. Hopkins, excepting and excluding that tract of land described and
included in Power Site Reserve No. 542 created by Executive Order of August 25, 1916, under the Act of
Congress approved June 25, 1910 (36 Stat. 847d) as reserved in United States Patent recorded April 11,
1923 in Book 112 at Page 388 as Reception No. 82446.
• 15. Excepting and reserving, however, to the U.S. all the coal and other minerals in the lands so entered and
patented, together with the right to prospect for, mine and remove the same pursuant to the Act of
Order Number: 20060297-C9
ALTA Commitment (6/17/06) - Schedule B 2
Page 2 of 7
-Stewart
title guaranty company
•
•
December 29, 1916 (39 Stat. 862) as reserved in United States Patent recorded October 31, 1939 in Book
194 at Page 590 as Reception No. 137373 AND AS SHOWN ON THE ALTA/ACSM Land Title Survey
of Spring Valley Ranch P.U.D. by Gamba & Associates, Inc., dated November 15, 2005, by Michael J.
Gamba, P.E. & P.L.S. No. 28036.
16. Excepting and reserving, however, to the U.S. all the coal and other minerals in the lands so entered and
patented, together with the right to prospect for, mine, and remove the same pursuant to the Act of
December 29, 1916 (39 Stat. 862) as reserved in United States Patent recorded February 26, 1962 in Book
263 at Page 232 as Reception No. 178628 and as shown on the ALTA/ACSM Land Title Survey of Spring
Valley Ranch P.U.D. by Gamba & Associates, Inc., dated November 15, 2005, by Michael J. Gamba, P.E.
& P.L.S. No. 28036.
17. Reservation unto the U.S., its permitee or licensee, the right to enter upon, occupy and use, any part or all
of that portion of the NE 1/4NE1/4 of Section 28, lying with in 50 ft. of the centerline of the transmission
line right of way of the Central Colorado Power Company for the purposes provided in the Act of June 10,
1920 (41 Stat. 1063), and subject to the conditions and limitations of Section 24 of said Act as reserved in
United States Patent recorded February 26, 1952 in Book 263 at Page 235 as Reception No. 178631 AND
AS SHOWN ON THE ALTA/ACSM Land Title Survey of Spring Valley Ranch P.U.D. by Gamba &
Associates, Inc., dated November 15, 2005, by Michael J. Gamba, P.E. & P.L.S. No. 28036
18. Excepting and reserving, however, to the U.S., all the coal and other minerals in the lands so entered and
patented, together with the right to prospect for, mine and remove the same pursuant to the Act of
December 29, 1916 (39 Stat. 862) as reserved in United States Patent recorded February 26, 1952 in Book
263 at Page 236 as Reception No. 178632 AND AS SHOWN ON THE ALTA/ACSM Land Title Survey
of Spring Valley Ranch P.U.D. by Gamba & Associates, Inc., dated November 15, 2005, by Michael J.
Gamba, P.E. & P.L.S. No. 28036.
19. Reservation unto the U.S., its permitee or licensee, the right to enter upon, occupy and use, any part or all
of that portion of the E1/2NW1/4 and the NE1/4SW1/4 of Section 21 for the purposes provided in the Act
of June 10, 1920 (41 Stat. 1063), and subject to the conditions and limitations of Sec. 24 of said Act, as
reserved in United States Patent recorded February 26, 1952 in Book 263 at Page 237 as Reception No.
178633 AND AS SHOWN ON THE ALTA/ACSM Land Title Survey of Spring Valley Ranch P.U.D. by
Gamba & Associates, Inc., dated November 15, 2005, by Michael J. Gamba, P.E. & P.L.S. No. 28036.
20. Excepting and reserving, however, to the U.S. all the coal and other minerals in the lands so entered and
patented, together with the right to prospect for, mine and remove the same pursuant to the Act of
December 29, 1916 (39 Stat. 862) and reservation unto the U.S., its permitee or licensee, the right to enter
upon, occupy and use, any part or all of that portion of the W 1 /2SW 1/4 of Sec. 27, Lot 1 of Sec. 21 and the
NW 1/4NE 1 /4 of Sec. 17, lying within 50 ft. of the centerline of the transmission line right of way of the
Colo. Power Company for the purposes provided in the Act of June 10, 1920 (41 Stat. 1063), and subject
to the conditions and limitations of Sec. 24 of said Act as amended by the Act of August 26, 1935 (49 Stat.
846) as reserved in United States Patent recorded February 26, 1952 in Book 263 at Page 238 as Reception
No. 178634 AND AS SHOWN ON THE ALTA/ACSM Land Title Survey of Spring Valley Ranch P.U.D.
by Gamba & Associates, Inc., dated November 15, 2005, by Michael J. Gamba, P.E. & P.L.S. No. 28036.
21. Reservation unto the U.S., its permitee or licensee, the right to enter upon, occupy and use, any part or all
of that portion of the SE1/4NE1/4 of Sec. 28 lying within 50 ft. of the centerline of the transmission line
right of way of the Central Colorado Power Co. for the purposes provided in the Act of June 10, 1920 (41
Stat 1063) and subject to the conditions and limitations of Sec. 24 of said Act as reserved in United States
Patent recorded February 26, 1952 in Book 263 at. page 240 as Reception No. 178636 AND AS SHOWN
Order Number: 20060297-C9 r_stew �J `
ALTA Commitment (6/17/06) --Schedule B 2
Page 3 of 7 title guaranty company
OON THE ALTA/ACSM Land Title Survey of Spring Valley Ranch P.U.D. by Gamba & Associates, Inc.,
dated November 15, 2005, by Michael J. Gamba, P.E. & P.L.S. No. 28036.
22. Reservation unto the U.S., its permitee or licensee, the right to enter upon, occupy and use, any part or all
of that portion of the Lots 3 and 4 of Sec. 16, lying within 50 ft. of the centerline of the transmission line
right of way of the Central Colorado Power Company for the purposes provided in the Act of June 10,
1920 (41 Stat. 1063) and subject to the conditions and limitations of Sec. 24 of said Act as reserved in
United States Patent recorded March 3, 1952 in Book 263 at Page 276 as Reception No. 178689. AND AS
SHOWN ON THE ALTA/ACSM Land Title Survey of Spring Valley Ranch P.U.D. by Gamba &
Associates, Inc., November 15, 2005, by Michael J. Gamba, P.E. & P.L.S. No. 28036.
23.
Excepting and reserving, however, to the U.S. all the coal and other minerals in the lands so entered and
patented, together with the right to prospect for, mine, and remove the same pursuant to the Act of
December 29, 1916 (39 Stat. 862) as reserved in United States Patent recorded March 3, 1952 in Book 263
at Page 272 as Reception No. 178690 AND AS SHOWN ON THE ALTA/ACSM Land Title Survey of
Spring Valley Ranch P.U.D. by Gamba & Associates, Inc., dated November 15, 2005, by Michael J.
Gamba, P.E. & P.L.S. No. 28036.
24. Thirty foot Right of Way for private use, extending from the residence by Quit Claim Deed from John W.
Hopkins, Raymond C. Hopkins and Bernard A. Hopkins to Margaret K. Hopkins recorded July 5, 1951, in
Book 259 at Page 190 as Reception No. 176573.
25. Affidavit from the Public Service Company of Colorado, purported owner of easements for electric
transmission lines and telephone and telegraph lines, recorded March 9, 1959 in Book 315 at Page 525 as
Reception No. 204592.
26. Excepting an easement and right-of-way over and across existing roadways for purposes of ingress and
egress, together with any and all grazing rights and privileges as disclosed in Deed recorded June 24, 1965
in Book 367 at Page 185 as Reception No. 230466 and in Deed recorded June 24, 1965 in Book 367 at
Page 188 as Reception No. 230467.
27. Excepting and reserving, however, to the U.S. all the coal and other minerals in the lands so entered and
patented, together with the right to prospect for, mine, and remove the same pursuant to the Act of
December 29, 1916 (39 Stat. 862) as reserved in United States Patent recorded May 20, 1940 in Book 194
at Page 617 as Reception No. 139733 AND AS SHOWN ON THE ALTA/ACSM Land Title Survey of
Spring Valley Ranch P.U.D. by Gamba & Associates, Inc., dated November 15, 2005, by Michael J.
Gamba, P.E. & P.L.S. No. 28036.
28. Excepting and reserving, however, to the U.S. alI the coal and other minerals in the lands so entered and
patented, together with the right to prospect for, mine, and remove the same pursuant to the Act of
December 29, 1916 (39 Stat. 862) as reserved in United States patent recorded February 26, 1952 in Book
263 at Page 231 as Reception No. 178627 AND AS SHOWN ON THE ALTAIACSM Land Title Survey
of Spring Valley Ranch P.U.D. by Gamba & Associates, Inc., dated November 15, 2005, by Michael J.
Gamba, P.E. & P.L.S. No. 28036.
29. Excepting and reserving, however, to the U.S. all the coal and other minerals in the lands so entered and
patented, together with the right to prospect for, mine, and remove the same pursuant to the Act of
December 29, 1916 (39 Stat. 862) as reserved in United States Patent recorded February 26, 1952 in Book
263 at Page 239 as Reception No. 178635 AND AS SHOWN ON THE ALTA/ACSM Land Title Survey
of Spring Valley Ranch P.U.D. by Gamba & Associates, Inc., dated November 15, 2005, by Michael J.
art
Number: 20060297-C9 ste p
ALTA Commitment (6117!06) - Schedule B 2 �7 ��/ Y 1/
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Gamba, P.E. & P.L.S. No. 28036.
30. Reservation of a non-exclusive easement and right-of-way for roadway access as disclosed in Warranty
Deed recorded April 19, 1977 in Book 495 at Page 593 as Reception No. 277986.
31. A non-exclusive easement and right-of-way for roadway access purposes; together with a covenant running
with the title to a certain parcel of land that grantors covenant and agree that they will not erect or
construct any residential or commercial building structures upon a certain parcel more particularly
described in following recited Special Warranty Deed; all as disclosed in Special Warranty Deed recorded
April 19, 1977 in Book 495 at Page 596 as Reception No. 277987.
32. Twenty-four foot or fifteen foot easements for roadway access, pipelines, and utilities as granted in the
following Deeds:
RECEPTION NO BOOK PAGE RECORDING DATE
281051 501 393 October 4, 1977
281052 501 395 October 4, 1977
281588 502 387 November 2, 1977
281622 502 467 November 3, 1977
282773 504 751 January 6, 1978
33. Resolutions by the Board of County Commissioners of Garfield County:
RESOLUTION # RECEPTION NO. BOOK PAGE Recording Date
0 80-248 308660 558 439 October 24, 1980
84-126 353974 652 840 July 12, 1984
84-127 353975 652 842 July 12, 1984
87-106 386620 722 745 October 13, 1987
94-135 471850 924 728 December 6, 1994
94-141 472056 925 340 December 13, 1994
2000-95 572999 1220 159 December 1, 2000
2002-07 595731 1321 72 January 15, 2002
2003-98 642016 1543 420 December 2, 2003
2003-99 642017 1543 430 December 2, 2003
2005-83 686066 1743 888 November 8, 2005
2005-84 686067 1743 894 November 8, 2005
2008-55 747015 April 22, 2008
2008-56 747016 April 22, 2008
34. Right -of -Way and twenty foot wide easement together with right to clear all trees and brush, by machine
work or otherwise, within said easement, and the further right to cut trees, even though outside of said
easement, which are tall enough to strike the wires in falling and agreement that all poles, wire and other
facilities installed by Grantee shall remain the property of Grantee, and shall be removable at the option of
Grantee as disclosed by Holy Cross Electric Association, Inc. Right -of -Way Easement recorded November
19, 1984 in Book 660 at Page 166 as Reception No. 357370.
35. Terms, agreements, provisions, conditions and obligations of Easement Agreements recorded as follows
and as shown on the ALTA/ACSM Land Title Survey of Spring Valley Ranch P.U.D. by Gamba &
Associates, Inc., dated November 15, 2005, by Michael J. Gamba, P.E. & P.L.S. No. 28036:
Thirty foot roadway easement from Spring Valley Holding USA, Ltd. To Hopkins Ranch, Ltd. recorded.
Order Number: 20060297-C9 - `��''"e\/�,�art
ALTA Commitment (6/17/06) — Schedule B 2 V r
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September 10, 1993 in Book 875 at Page 129 as Reception No. 452324 and re-recorded February 2, 1994
in Book 891 at Page 668 as Reception No. 458816.
36. Easements granting perpetual easements for the transmission, distribution, or both, of electricity and for
the transmission of communication signals on, over, under and across the described premises together with
full rights of entry to, among other activities, exercise authority to cut, remove, trim or otherwise control
all trees, brush, and other growth on or overhanging said premises and restrictions as disclosed by
Easement recorded July 15, 1994 IN Book 908 at Page 836 as Reception No. 465897 and as shown on the
ALTA/ACSM Land Title Survey of Spring Valley Ranch P.U.D. by Gamba & Associates, Inc., dated
November 15, 2005, by Michael J. Gamba, P.E. & P.L.S. No. 28036.
37. Memorandum of Agreement on Boundary Line among F. Peter Simmons, Dorothy M. Simmons and
Spring Valley Ranch recorded April 26, 1995 in Book 938 at Page 691 as Reception No. 477245.
38. Twenty foot easement for road and utility purposes as disclosed in Warranty Deed recorded October 9,
1967 in Book 388 at Page 331 as Reception No. 239151 and as shown on the ALTA/ACSM Land Title
Survey of Spring Valley Ranch P.U.D. by Gamba & Associates, Inc., dated November 15, 2005, by
Michael J. Gamba, P.E. & P.L.S. No. 28036.
39. Utility Relocation Agreement for electrical transmission lines recorded September 08, 1998 in Book 1087
at Page 614 as Reception No. 531850.
40. Perpetual easement for the transmission, distribution, or both, of electricity and for the transmission of
communication signals on, over, under and across the described premises together with full rights of entry
to, among other activities, exercise authority to cut, remove, trim or otherwise control all trees, brush, and
other growth on or overhanging said premises and restrictions as disclosed by Public Service Company of
Colorado Easement for recorded September 29, 1998 in Book 1090 at Page 657 as Reception No. 532924.
41. S [Intentionally deleted.]
42. Pre -inclusion and Wastewater Treatment Plant Development Agreement recorded August 30, 2001 in
Book 1282 at Page 8 as Reception No. 587475.
43. Sixty foot wide access and utility easement together with obligations as disclosed by Easement Agreement
recorded January 18, 2002 in Book 1322 at Page 335 as Reception No. 596026 and as shown on the
ALTA/ACSM Land Title Survey of Spring Valley Ranch. P.U.D. by Gamba & Associates, Inc., dated
November 15, 2005 by Michael J. Gamba, P.E. & P.L.S. No. 28036.
44. Excepting and reserving, however, to the U.S. all the coal and other minerals in the lands so entered and
patented, together with the right to prospect for, mine and remove the same pursuant to the Act of
December 29, 1916 (39 Stat. 862) as reserved in United States Patent recorded February 26, 1952 in Book
263 at Page 236 as Reception No. 178632.
45. Excepting and reserving, however, to the U.S. all the coal and other minerals in the lands so entered and
patented, together with the right to prospect for, mine, and remove the same pursuant to the Act of
December 29, 1916 (39 Stat. 862) as reserved in United States Patent recorded May 20, 1940 in Book 194
at Page 617 as Reception No. 139733.
• 46. Excepting and reserving, however, to the U.S. all the coal and other minerals in the lands so entered and
patented, together with the right to prospect for, mine, and remove the same pursuant to the Act of
OrderNumber: 20060297-C9
ALTA Commitment (6/17/06)
— Schedule B 2 rStewart
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December 29, 1916 (39 Stat. 862) as reserved in United States patent recorded February 26, 1952 in Book
263 at Page 231 as Reception No. 178627.
47. Adverse matters disclosed on the ALTAIACSM Land Title Survey of Spring Valley Ranch P.U.D. by
Gamba & Associates, Inc., dated November 15, 2005 by Michael J. Gamba, P.E. & P.L.S. No. 28036:
(1) Hopkins Reservoir;
(2) Landis Creek Road easement and right-of-way;
(3) survey notes;
(4) ditches;
(5) possessory rights associated with fences;
(6) house and garage encroachment and corresponding Deed overlap from the East Exception Parcel;
(7) underground water line (in Section 29);
(8) overhead electric lines and utility poles;
(9) roads;
48. [Intentionally deleted.]
Order Number: 20060297-C9
ALTA Commitment (6117106) — Schedule B 2
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stewart
•title guaranty company
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DISCLOSURES
Order Number: 20060297-C9
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 Materiahnen'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 ail 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 usethe property _w thout_.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 HERELN UNLESS THE ABOVE CONDITIONS ARE FULLY
SATISFIED.
Order Number. 20060297-C9
Disclosures
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 ormay .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
http://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.
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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.
Reasons we can share your personal information Do we share? Can you limit this sharing?
..__.__..__.....-
For our everyday business purposes— to process your transactions and maintain 1
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
For joint marketing with other financial companies No
Yes
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
No
We don't share
No
For our affiliates' everyday business purposes— information about your
creditworthiness.
For our affiliates to market to you
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
Yes
No
We don't share
No We don't share
We may disclose your personal information to our affiliates or to non -affiliates as permitted by Iaw. 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.]
Sharing practices
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.
L Contact Us
If you have any questions about this privacy notice, please contact us at: Stewart Title Guaranty Company, 1980 Post Oak Blvd.,
Privacy Officer, Houston, Texas 77056
Order Number: 20060297-C9