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HomeMy WebLinkAbout1.02 Title CommitmentThis page is only a part of a 2016 ALTA® Commitment for Title Insurance issued by First American Title Insurance Company. This Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I—Requirements; Schedule B, Part II—Exceptions; and a counter-signature by the Company or its issuing agent that may be in electronic form. Copyright 2006-2016 American Land Title Association. All rights reserved. The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association. Form 5030000 (1-31-17)ALTA Commitment for Title Insurance (8-1-16) ALTA Commitment for Title Insurance ISSUED BY First American Title Insurance Company Commitment COMMITMENT FOR TITLE INSURANCE Issued By FIRST AMERICAN TITLE INSURANCE COMPANY NOTICE IMPORTANT—READ CAREFULLY: THIS COMMITMENT IS AN OFFER TO ISSUE ONE OR MORE TITLE INSURANCE POLICIES. ALL CLAIMS OR REMEDIES SOUGHT AGAINST THE COMPANY INVOLVING THE CONTENT OF THIS COMMITMENT OR THE POLICY MUST BE BASED SOLELY IN CONTRACT. THIS COMMITMENT IS NOT AN ABSTRACT OF TITLE, REPORT OF THE CONDITION OF TITLE, LEGAL OPINION, OPINION OF TITLE, OR OTHER REPRESENTATION OF THE STATUS OF TITLE. THE PROCEDURES USED BY THE COMPANY TO DETERMINE INSURABILITY OF THE TITLE, INCLUDING ANY SEARCH AND EXAMINATION, ARE PROPRIETARY TO THE COMPANY, WERE PERFORMED SOLELY FOR THE BENEFIT OF THE COMPANY, AND CREATE NO EXTRACONTRACTUAL LIABILITY TO ANY PERSON, INCLUDING A PROPOSED INSURED. THE COMPANY’S OBLIGATION UNDER THIS COMMITMENT IS TO ISSUE A POLICY TO A PROPOSED INSURED IDENTIFIED IN SCHEDULE A IN ACCORDANCE WITH THE TERMS AND PROVISIONS OF THIS COMMITMENT. THE COMPANY HAS NO LIABILITY OR OBLIGATION INVOLVING THE CONTENT OF THIS COMMITMENT TO ANY OTHER PERSON. COMMITMENT TO ISSUE POLICY Subject to the Notice; Schedule B, Part I—Requirements; Schedule B, Part II—Exceptions; and the Commitment Conditions,First American Title Insurance Company, a Colorado Corporation (the "Company"), commits to issue the Policy according to the terms and provisions of this Commitment. This Commitment is effective as of the Commitment Date shown in Schedule A for each Policy described in Schedule A, only when the Company has entered in Schedule A both the specified dollar amount as the Proposed Policy Amount and the name of the Proposed Insured. If all of the Schedule B, Part I—Requirements have not been met within six months after the Commitment Date, this Commitment terminates and the Company’s liability and obligation end. If this jacket was created electronically, it constitutes an original document. This page is only a part of a 2016 ALTA® Commitment for Title Insurance issued by First American Title Insurance Company. This Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I—Requirements; Schedule B, Part II—Exceptions; and a counter-signature by the Company or its issuing agent that may be in electronic form. Copyright 2006-2016 American Land Title Association. All rights reserved. The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association. Form 5030000 (1-31-17)ALTA Commitment for Title Insurance (8-1-16) COMMITMENT CONDITIONS 1. DEFINITIONS (a) "Knowledge" or "Known": Actual or imputed knowledge, but not constructive notice imparted by the Public Records. (b) "Land": The land described in Schedule A and affixed improvements that by law constitute real property. The term "Land" does not include any property beyond the lines of the area described in Schedule A, nor any right, title, interest, estate, or easement in abutting streets, roads, avenues, alleys, lanes, ways, or waterways, but this does not modify or limit the extent that a right of access to and from the Land is to be insured by the Policy. (c) "Mortgage": A mortgage, deed of trust, or other security instrument, including one evidenced by electronic means authorized by law. (d) "Policy": Each contract of title insurance, in a form adopted by the American Land Title Association, issued or to be issued by the Company pursuant to this Commitment. (e) "Proposed Insured": Each person identified in Schedule A as the Proposed Insured of each Policy to be issued pursuant to this Commitment. (f) "Proposed Policy Amount": Each dollar amount specified in Schedule A as the Proposed Policy Amount of each Policy to be issued pursuant to this Commitment. (g) "Public Records": Records established under state statutes at the Commitment Date for the purpose of imparting constructive notice of matters relating to real property to purchasers for value and without Knowledge. (h) "Title": The estate or interest described in Schedule A. 2. If all of the Schedule B, Part I—Requirements have not been met within the time period specified in the Commitment to Issue Policy, this Commitment terminates and the Company’s liability and obligation end. 3. The Company’s liability and obligation is limited by and this Commitment is not valid without: (a) the Notice; (b) the Commitment to Issue Policy; (c) the Commitment Conditions; (d) Schedule A; (e) Schedule B, Part I—Requirements; (f) Schedule B, Part II—Exceptions; and (g) a counter-signature by the Company or its issuing agent that may be in electronic form. 4. COMPANY’S RIGHT TO AMEND The Company may amend this Commitment at any time. If the Company amends this Commitment to add a defect, lien, encumbrance, adverse claim, or other matter recorded in the Public Records prior to the Commitment Date, any liability of the Company is limited by Commitment Condition 5. The Company shall not be liable for any other amendment to this Commitment. 5. LIMITATIONS OF LIABILITY (a) The Company’s liability under Commitment Condition 4 is limited to the Proposed Insured’s actual expense incurred in the interval between the Company’s delivery to the Proposed Insured of the Commitment and the delivery of the amended Commitment, resulting from the Proposed Insured’s good faith reliance to: (i) comply with the Schedule B, Part I—Requirements; (ii) eliminate, with the Company’s written consent, any Schedule B, Part II—Exceptions; or (iii) acquire the Title or create the Mortgage covered by this Commitment. (b) The Company shall not be liable under Commitment Condition 5(a) if the Proposed Insured requested the amendment or had Knowledge of the matter and did not notify the Company about it in writing. (c) The Company will only have liability under Commitment Condition 4 if the Proposed Insured would not have incurred the expense had the Commitment included the added matter when the Commitment was first delivered to the Proposed Insured. (d) The Company’s liability shall not exceed the lesser of the Proposed Insured’s actual expense incurred in good faith and described in Commitment Conditions 5(a)(i) through 5(a)(iii) or the Proposed Policy Amount. This page is only a part of a 2016 ALTA® Commitment for Title Insurance issued by First American Title Insurance Company. This Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I—Requirements; Schedule B, Part II—Exceptions; and a counter-signature by the Company or its issuing agent that may be in electronic form. Copyright 2006-2016 American Land Title Association. All rights reserved. The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association. Form 5030000 (1-31-17)ALTA Commitment for Title Insurance (8-1-16) (e) The Company shall not be liable for the content of the Transaction Identification Data, if any. (f) In no event shall the Company be obligated to issue the Policy referred to in this Commitment unless all of the Schedule B, Part I—Requirements have been met to the satisfaction of the Company. (g) In any event, the Company’s liability is limited by the terms and provisions of the Policy. 6. LIABILITY OF THE COMPANY MUST BE BASED ON THIS COMMITMENT (a) Only a Proposed Insured identified in Schedule A, and no other person, may make a claim under this Commitment. (b) Any claim must be based in contract and must be restricted solely to the terms and provisions of this Commitment. (c) Until the Policy is issued, this Commitment, as last revised, is the exclusive and entire agreement between the parties with respect to the subject matter of this Commitment and supersedes all prior commitment negotiations, representations, and proposals of any kind, whether written or oral, express or implied, relating to the subject matter of this Commitment. (d) The deletion or modification of any Schedule B, Part II—Exception does not constitute an agreement or obligation to provide coverage beyond the terms and provisions of this Commitment or the Policy. (e) Any amendment or endorsement to this Commitment must be in writing and authenticated by a person authorized by the Company. (f) When the Policy is issued, all liability and obligation under this Commitment will end and the Company’s only liability will be under the Policy. 7. IF THIS COMMITMENT HAS BEEN ISSUED BY AN ISSUING AGENT The issuing agent is the Company’s agent only for the limited purpose of issuing title insurance commitments and policies. The issuing agent is not the Company’s agent for the purpose of providing closing or settlement services. 8. PRO-FORMA POLICY The Company may provide, at the request of a Proposed Insured, a pro-forma policy illustrating the coverage that the Company may provide. A pro-forma policy neither reflects the status of Title at the time that the pro-forma policy is delivered to a Proposed Insured, nor is it a commitment to insure. 9. ARBITRATION The Policy contains an arbitration clause. All arbitrable matters when the Proposed Policy Amount is $2,000,000 or less shall be arbitrated at the option of either the Company or the Proposed Insured as the exclusive remedy of the parties. A Proposed Insured may review a copy of the arbitration rules at http://www.alta.org/arbitration. This page is only a part of a 2016 ALTA® Commitment for Title Insurance issued by First American Title Insurance Company. This Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I—Requirements; Schedule B, Part II—Exceptions; and a counter-signature by the Company or its issuing agent that may be in electronic form. Copyright 2006-2016 American Land Title Association. All rights reserved. The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association. Form 5033708-A (4-9-18)ALTA Commitment for Title Insurance (8-1-16) Colorado - Schedule A ALTA Commitment for Title Insurance ISSUED BY First American Title Insurance Company Schedule A Transaction Identification Data for reference only: Issuing Agent:Winter Van Alstine Issuing Office:Attorneys Title Insurance Agency of Aspen, LLC Issuing Office's ALTA® Registry ID: 1019587 Loan ID No.: Commitment No.:24005225 Issuing Office File No.:24005225 Property Address:TBD - Tract: C McClure River Ranch, Carbondale, CO 81623 SCHEDULE A 1. Commitment Date: January 30, 2024 at 07:45 AM 2. Policy or Policies to be issued: Amount Premium A. ALTA Owners Policy (06/17/06)$0.00 $0.00 Proposed Insured:TBD Certificate of Taxes Due $0.00 Endorsements: Additional Charges:$0 Total $0.00 3. The estate or interest in the land described or referred to in this Commitment is Fee simple. 4. The Title is, at the Commitment Date, vested in: Aspen Polo Partners, LLP, a Colorado limited liability company 5. The land referred to in the Commitment is described as follows: SEE EXHIBIT A ATTACHED HERETO For informational purposes only, the property address is: TBD - Tract: C McClure River Ranch, Carbondale, CO 81623. SCHEDULE A (Continued) This page is only a part of a 2016 ALTA® Commitment for Title Insurance issued by First American Title Insurance Company. This Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I—Requirements; Schedule B, Part II—Exceptions; and a counter-signature by the Company or its issuing agent that may be in electronic form. Copyright 2006-2016 American Land Title Association. All rights reserved. The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association. Form 5033708-A (4-9-18)ALTA Commitment for Title Insurance (8-1-16) Colorado - Schedule A Attorneys Title Insurance Agency of Aspen, LLC By: Winter Van Alstine Authorized Officer or Agent FOR INFORMATION PURPOSED OR SERVICES IN CONNECTION WITH THIS COMMITMENT, CONTACT: Attorneys Title Insurance Agency of Aspen, LLC, 715 West Main Street, Suite 202, Aspen, CO 81611, Phone: 970 925-7328, Fax: 970 925-7348. This page is only a part of a 2016 ALTA® Commitment for Title Insurance issued by First American Title Insurance Company. This Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I—Requirements; Schedule B, Part II—Exceptions; and a counter-signature by the Company or its issuing agent that may be in electronic form. Copyright 2006-2016 American Land Title Association. All rights reserved. The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association. Form 5030008-BI&BII (5-18-17)ALTA Commitment for Title Insurance (8-1-16) Colorado - Schedule BI & BII ALTA Commitment for Title Insurance ISSUED BY First American Title Insurance Company Schedule BI & BII Commitment No: 24005225 SCHEDULE B, PART I Requirements All of the following Requirements must be met: 1. The Proposed Insured must notify the Company in writing of the name of any party not referred to in this Commitment who will obtain an interest in the Land or who will make a loan on the Land. The Company may then make additional Requirements or Exceptions. 2. Pay the agreed amount for the estate or interest to be insured. 3. Pay the premiums, fees, and charges for the Policy to the Company. 4. Documents satisfactory to the Company that convey the Title or create the Mortgage to be insured, or both, must be properly authorized, executed, delivered, and recorded in the Public Records. 5. Payment of all taxes and assessments now due and payable as shown on a certificate of taxes due from the County Treasurer or the County Treasurer's Authorized Agent. 6. Evidence that all assessments for common expenses, if any, have been paid. 7. Final Affidavit and Agreement executed by Owners and/or Purchasers must be provided to the Company 8. Special Warranty Deed must be sufficient to convey the fee simple estate or interest in the land described or referred to herein, from Aspen Polo Partners, LLP, a Colorado limited liability partnership, to TBD, the proposed insured, Schedule A, item 2A. NOTE: C.R.S. Section 38-35-109(2) required that a notation of the purchaser's legal address, (not necessarily the same as the property address) be included on the face of the Deed to be recorded. ALTA Commitment for Title Insurance ISSUED BY First American Title Insurance Company Schedule BI & BII (Cont.) Form 50-CO-Disclosure (4-1-16)Page 7 of 20 Disclosure Statement (5-1-15) Colorado 9. Partial Release of the Deed of Trust, Assignment of Leases and Rents, and Security Agreement, from Aspen Polo Partners, LLP, a Colorado limited liability partnership, to the Public Trustee of Garfield County for the benefit of The Northern Trust Company, to secure an indebtedness in the principal sum of $3,600,000.00, and any other amounts and/obligations secured thereby, dated May 25, 2018, and recorded June 1, 2018, as Reception No. 907434, and First Amendment to Deed of Trust, Assignment of Leases and Rents, and Security Agreement ($3,600,000) dated May 25, 2021, and recorded December 21, 2021, as Reception No. 968573, and Second Amendment to Deed of Trust, Assignment of Leases and Rents, and Security Agreement ($3,600,000.00), dated March 22, 2022, and recorded July 26, 2022, as Reception No. 977489. NOTE: Partial Release of Deed of Trust dated July 22, 2022, recorded September 16, 2022, as Reception No. 979267. NOTE: Partial Release of Deed of Trust dated March 9, 2023, recorded May 23, 2023, as Reception No. 986089. NOTE: Partial Release of Deed of Trust dated March 17, 2023, recorded May 23, 2023, as Reception No. 986093. 10. Partial Release of the Deed of Trust, Assignment of Leases and Rents, and Security Agreement, from Aspen Polo Partners, LLP, a Colorado limited liability partnership, to the Public Trustee of Garfield County for the benefit of The Northern Trust Company, to secure an indebtedness in the principal sum of $2,000,000.00, and any other amounts and/obligations secured thereby, dated December 20, 2018, and recorded December 21, 2018, as Reception No. 915636, and First Amendment to Deed of Trust, Assignment of Leases and Rents, and Security Agreement ($2,000,000) dated May 25, 2021, and recorded December 21, 2021, as Reception No. 968572, and Second Amendment to Deed of Trust, Assignment of Leases and Rents, and Security Agreement ($2,000,000.00), dated March 22, 2022, and recorded July 26, 2022, as Reception No. 977494. NOTE: Partial Release of Deed of Trust dated July 22, 2022, recorded September 16, 2022, as Reception No. 979266. NOTE: Partial Release of Deed of Trust dated March 9, 2023, recorded May 23, 2023, as Reception No. 986087. NOTE: Partial Release of Deed of Trust dated March 17, recorded May 23, 2023, as Reception No. 986092. 11. Partial Release of the Deed of Trust, Assignment of Leases and Rents, and Security Agreement, from Aspen Polo Partners, LLP, a Colorado limited liability partnership, to the Public Trustee of Garfield County for the benefit of The Northern Trust Company, to secure an indebtedness in the principal sum of $1,700,000.00, and any other amounts and/obligations secured thereby, dated July 22, 2022, and recorded July 26, 2022, as Reception No. 977499. NOTE: Partial Release of Deed of Trust dated March 9, 2023, recorded May 23, 2023, as Reception No. 986088. NOTE: Partial Release of Deed of Trust dated March 17, 2023, recorded May 23, 2023, as Reception No. 986094. 12. Record a Statement of Authority to provide prima facie evidence of existence of Aspen Polo Partners, LLP, a Colorado limited liability partnership, an entity capable of holding property, and the name of the person authorized to execute instruments affecting title to real property as authorized by C.R.S. Section 38-30-172. 13. Certificate of Good Standing from the Colorado Secretary of State for Aspen Polo Partners, LLP, a Colorado limited liability partnership. ALTA Commitment for Title Insurance ISSUED BY First American Title Insurance Company Schedule BI & BII (Cont.) Form 50-CO-Disclosure (4-1-16)Page 8 of 20 Disclosure Statement (5-1-15) Colorado 14. A copy of the properly signed and executed Partnership Agreement if written, for Aspen Polo Partners, LLP, a Colorado limited liability partnership, to be submitted to the Company for review. 15. Evidence to the Company that all assessments and liens due under the Declaration referred to in Schedule B have been paid. 16. This Title Commitment is subject to underwriter approval. This page is only a part of a 2016 ALTA® Commitment for Title Insurance issued by First American Title Insurance Company. This Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I—Requirements; Schedule B, Part II—Exceptions; and a counter-signature by the Company or its issuing agent that may be in electronic form. Copyright 2006-2016 American Land Title Association. All rights reserved. The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association. Form 5030008-BI&BII (5-18-17)ALTA Commitment for Title Insurance (8-1-16) Colorado - Schedule BI & BII ALTA Commitment for Title Insurance ISSUED BY First American Title Insurance Company Schedule BI & BII (Cont.) Commitment No.: 24005225 SCHEDULE B, PART II Exceptions THIS COMMITMENT DOES NOT REPUBLISH ANY COVENANT, CONDITION, RESTRICTION, OR LIMITATION CONTAINED IN ANY DOCUMENT REFERRED TO IN THIS COMMITMENT TO THE EXTENT THAT THE SPECIFIC COVENANT, CONDITION, RESTRICTION, OR LIMITATION VIOLATES STATE OR FEDERAL LAW BASED ON RACE, COLOR, RELIGION, SEX, SEXUAL ORIENTATION, GENDER IDENTITY, HANDICAP, FAMILIAL STATUS, OR NATIONAL ORIGIN. The Policy will not insure against loss or damage resulting from the terms and provisions of any lease or easement identified in Schedule A, and will include the following Exceptions unless cleared to the satisfaction of the Company: 1. Any facts, rights, interests or claims which are not shown by the Public Records, but which could be ascertained by an inspection of the Land or by making inquiry of persons in possession thereof. 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 land survey and inspection of the Land would disclose, and which are not shown by the Public Records. 4. Any lien, or right to a lien, for services, labor or material theretofore or hereafter furnished, imposed by law and not shown in the Public Records. 5. Any defect, lien, encumbrance, adverse claim, or other matter that appears for the first time in the Public Records or is created, attaches, or is disclosed between the Commitment Date and the date on which all of the Schedule B, Part I—Requirements are met. Note: Exception number 5. will be removed from the policy provided the Company conducts the closing and settlement service for the transaction identified in the commitment 6. Any and all unpaid taxes, assessments and unredeemed tax sales. 7. Unpatented mining claims; reservations or exceptions in patents or in Acts authorizing the issuance thereof. 8. Any water rights, claims of title to water, in, on or under the Land. 9. Taxes and assessments for the year 2023 and taxes for 2024, and subsequent years, a lien not yet due or payable. ALTA Commitment for Title Insurance ISSUED BY First American Title Insurance Company Schedule BI & BII (Cont.) Form 50-CO-Disclosure (4-1-16)Page 10 of 20 Disclosure Statement (5-1-15) Colorado 10. 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 right of way for ditches or canals constructed by the authority of the United States, as described in the United States Patent dated 30 June 1892, and recorded 2 May 1903, in Book 73 at Page 167, as Reception No. 082729; and as reserved in the United States Patent dated 5 June 1894 and recorded 11 August 1894 in Book 12 at Page 333 as Reception No. 017568. 11. Terms, conditions, provisions, agreements and obligations specified in the deed reserving an undivided one-half interest in and to any and all oil, gas rights and any and all assignments therof or interests therein on or under said land described in the deed recorded dated 10 January 1944 and recorded 10 January 1944 in Book 208 at Page 584 as Reception No. 150766. 12. Right of way for ditches or canals constructed by the authority of the United States, as reserved in the United States Patent dated November 16, 1954, and recorded December 10, 1954, in Book 281 at Page 250, as Reception No. 188039. 13. Terms, conditions, provisions, agreements and obligations specified in the deed reserving an undivided one-half interest in and to any and all oil, gas rights and any and all assignments therof or interests therein on or under said land described in the deed dated 4 April 1961 and recorded 12 April 1961 in Book 333 at Page 302 as Reception No. 213359. 14. Terms, conditions, provisions, agreements and obligations specified under the Right-of-way Easement dated 25 August 1961 and recorded 19 October 1961 in Book 337 at Page 229 as Reception No. 215432. 15. Terms, conditions, provisions, agreements and obligations specified under the Right-of-way Easement dated 21 October 1975 and recorded 22 October 1975 in Book 479 at Page 875 as Reception No. 269894. 16. Terms, conditions, provisions, agreements and obligations specified under the Quit Claim Deed for Water Rights, dated August 31, 2006, and recorded September 1, 2006, as Reception No. 705846. 17. Terms, conditions, provisions, agreements and obligations specified under Resolution No. 2007-PC-05, A Resolution Concerned With an Amendment to the Garfield County Comprehensive Plan, Study Area I, By the Garfield County Planning Commission, dated 11 June 2007 and recorded 14 December 2007 as Reception No. 739330. 18. Terms, conditions, provisions, agreements and obligations specified under Resolution No. 2009-81, A Resolution Concerned With Approving the Planned Unit Development and Preliminary Plan for the TCI Lane Ranch PUD and Retracting and Replacing Resolution 2009-71 (in its entirety) In Order To Correct Scriveners Errors in the PUD Guide for the TCI Lane Ranch Planned Unit Development, dated 7 December 2009 and recorded 9 December 2009 as Reception No. 778758. 19. Terms, conditions, provisions, agreements and obligations specified under the Land Use Change Permit dated 9 February 2010 and recorded 10 February 2010 as Reception No. 781907. 20. Terms, conditions, provisions, agreements and obligations specified under the Land Use Change Permit recorded 21 May 2010 as Reception No. 786310. 21. Terms, conditions, provisions, agreements and obligations specified under Resolution No. 2010-57, A Resolution Concerned With the Approval of an Extension for the TCI Lane Ranch PUD Preliminary Plan Located East of Catherine Store and CR 100 on Old Highway 82, Garfield County, dated 19 July 2010 and recorded 4 August 2010 as Reception No. 789509. ALTA Commitment for Title Insurance ISSUED BY First American Title Insurance Company Schedule BI & BII (Cont.) Form 50-CO-Disclosure (4-1-16)Page 11 of 20 Disclosure Statement (5-1-15) Colorado 22. Terms, conditions, provisions, agreements and obligations specified under Resolution 2010-101, A Resolution of Approval For and Amendment to the TCI Lane Ranch Planned Unit Development To Remove the Designation of "Employee Units" From the Development Site Plan, dated 20 December 2010 and recorded 5 January 2011 as Reception No. 796752. 23. Terms, conditions, provisions, agreements and obligations specified under the Fencing Agreement dated 8 June 2012 and recorded 27 August 2012 as Reception No. 823180. 24. Terms, conditions, provisions, agreements and obligations specified under Resolution 2013-58, A Resolution Concerned With the Approval of a Third Extension for the TCI Lane Ranch PUD Preliminary Plan, dated 3 September 2013 and recorded 4 September 2013 as Reception No. 840245; and under Resolution No. 2015-49, A Resolution Concerned With the Approval of a Fourth Extension for the TCI Lane Ranch PUD Preliminary Plan, dated8 September 2015 and recorded 9 September 2015 as Reception No. 867726. 25. Terms, conditions, provisions, agreements and obligations specified under Resolution No. 2016-37, A Resolution of Approval for a Correction to Resolution No. 2010-101 Which Granted Approval for the Removal of "Employee Units" from the TCI Lane Ranch Development Site Plan, dated 2 May 2016 and recorded 3 May 2016 as Reception No. 876726. 26. Terms, conditions, provisions, agreements and obligations specified under Resolution No. 2016-59, A Resolution Concerned With the Approval of a Fifth Extension for the TCI Lane Ranch PUD Preliminary Plan, dated 12 September 2016 and recorded 13 September 2016 as Reception No. 882266. 27. Terms, conditions, provisions, agreements and obligations specified under the Bargain and Sale Deed and Assignment Water Rights, recorded June 1, 2017, as Reception No. 893043. 28. Terms, conditions, provisions, agreements and obligations specified under the Assignment and Assumption of Contracts and Permits, dated May 30, 2017, and recorded June 1, 2017, as Reception No. 893044. 29. Terms, conditions, provisions, agreements and obligations specified under the Resolution No. 2018-10, recorded March 13, 2018, as Reception No. 904213. 30. Terms, conditions, provisions, agreements and obligations specified under the Aspen Valley Polo Club PUD Guide, dated February, 2018, and recorded March 13, 2018, as Reception No. 904214. 31. Any and all notes, easements and recitals as disclosed on the recorded PUD Plan Map, Aspen Valley Club PUD, dated February 23, 2018, and recorded March 13, 2018, as Reception No. 904215. 32. Terms, conditions, provisions, agreements and obligations specified under the Holy Cross Energy Underground Right-of-Way Easement, recorded April 20, 2018, as Reception No. 905657. 33. Terms, conditions, provisions, agreements and obligations specified under the Trench, Conduit and Vault Agreement, dated April 3, 2018, and recorded April 20, 2018, as Reception No. 905658. 34. Terms, conditions, provisions, agreements and obligations specified under the Memorandum of Water Allotment Contract, dated April 5, 2018, and recorded May 3, 2018, as Reception No. 906336. 35. Terms, conditions, provisions, agreements and obligations specified under the Memorandum of Water Allotment Contract, dated April 5, 2018, and recorded May 3, 2018, as Reception No. 906337. 36. Terms, conditions, provisions, agreements and obligations specified under the Holy Cross Energy Underground Right-of-Way Easement, recorded April 29, 2019, as Reception No. 919719. ALTA Commitment for Title Insurance ISSUED BY First American Title Insurance Company Schedule BI & BII (Cont.) Form 50-CO-Disclosure (4-1-16)Page 12 of 20 Disclosure Statement (5-1-15) Colorado 37. Any and all notes, encroachments, easements and recitals as disclosed on the recorded Preliminary Plan of McClure River Ranch, recorded November 16, 2020, as Reception No. 945442. 38. Any and all notes, encroachments, easements and recitals as disclosed on the recorded PUD Plan Map, recorded November 16, 2020, as Reception No. 945440. 39. Terms, conditions, provisions, agreements and obligations specified under Resolution No. 2020-54, recorded November 16, 2020, as Reception No. 945439. 40. Terms, conditions, provisions, agreements and obligations specified under Resolution No. 2020-55, recorded November 16, 2020, as Reception No. 945441. 41. Any and all notes, easements and recitals as disclosed on the recorded Preliminary Plan for McClure River Ranch recorded November 16, 2020, as Reception No. 945442. 42. Terms, conditions, provisions, agreements and obligations specified under the Resolution No. 2022-19 recorded July 6, 2022, as Reception No. 976756. 43. Any and all notes, encroachments, easements and recitals as disclosed on the recorded ALTA/NSPS Land Title Survey, provided by True North Colorado, dated July 19, 2022, as Project No. 2017-115, recorded July 19, 2022, as Reception No. 977228. 44. Terms, conditions, provisions, agreements and obligations specified under Resolution No. 2022-44, dated December 12, 2022, and recorded December 13, 2022, as Reception No. 982013. 45. Any and all notes, easements and recitals as disclosed on the recorded Final Plat McClure River Ranch, recorded December 20, 2022, as Reception No. 982205. 46. Terms, conditions, provisions, agreements and obligations specified under the Declaration of Covenants, Conditions and Restriction for McClure River Ranch Master Association, dated December 20, 2022, and recorded December 22, 2022, as Reception No. 982206, and First Amendment thereto recorded March 17, 2023, as Reception No. 984262, and re-recorded March 17, 2023, as Reception No. 984267, and the Second Amendment therero dated July 5, 2023, and recorded July 5, 2023, as Reception No. 987353. 47. Terms, conditions, provisions, agreements and obligations specified under the Bargain Sale Deed and Assigment of Division of Water Resources Well Permit No. 84782-F dated March 8, 2023, and recorded March 9, 2023, as Reception No. 984048. 48. Terms, conditions, provisions, agreements and obligations specified under the Bargain Sale Deed and Assigment of Division of Water Resources Well Permit No. 84780-F dated March 8, 2023, and recorded March 8, 2023, as Reception No. 984084. 49. Terms, conditions, provisions, agreements and obligations specified under the Bargain Sale Deed and Assigment of Division of Water Resources Well Permit No. 84778-F dated March 8, 2023, and recorded March 17, 2023, as Reception No. 984278. 50. Terms, conditions, provisions, agreements and obligations specified under the Collateral Assignment of Declarant Rights dated March 8, 2023, and recorded May 26, 2023, as Reception No. 986197. 51. Terms, conditions, provisions, agreements and obligations specified under the Bargain and Sale Deed and Assignment dated July 5, 2023, and recorded July 5, 2023, as Reception No. 987355. 52. Any rights, interests or easements in favor of the United States, the State of Colorado or the public, which exists or are claimed to exist in and over the present and past bed, banks or waters of The Roaring Fork River. ALTA Commitment for Title Insurance ISSUED BY First American Title Insurance Company Schedule BI & BII (Cont.) Form 50-CO-Disclosure (4-1-16)Page 13 of 20 Disclosure Statement (5-1-15) Colorado 53. Any existing leases or tenancies, and any and all parties claiming by, through or under said lessees. Form 5000000-EX (7-1-14)Exhibit A ALTA Commitment for Title Insurance ISSUED BY First American Title Insurance Company Exhibit A File No.: 24005225 The Land referred to herein below is situated in the County of Garfield, State of Colorado, and is described as follows: Tract C, MCCLURE RIVER RANCH, according to the Final Plat therof recorded December 20, 2022, as Reception No. 982205, and described in the Declaration of Covenants, Conditions and Restrictions for McClure River Ranch Master Association, recorded December 20, 2022, as Reception No. 982206, and First Amendment thereto recorded March 17, 2023, as Reception No. 984262, and re-recorded March 17, 2023, as Reception No. 984267, and the Second Amendment therero dated July 5, 2023, and recorded July 5, 2023, as Reception No. 987353, Garfield County, Colorado. Form 50-CO-Disclosure (4-1-16)Page 15 of 20 Disclosure Statement (5-1-15) Colorado DISCLOSURE STATEMENT Pursuant to C.R.S. 30-10-406(3)(a) 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 will refuse to record or file any document that does not conform to the requirements of this section. NOTE: If this 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). NOTE: Colorado Division of Insurance Regulations 8-1-2 requires that “Every 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 matters which appear of record prior to the time of recording whenever the title insurance company, or its agent, conducts the closing and settlement service that is in conjunction with its issuance of an owner’s policy of title insurance and is responsible for the recording and filing of legal documents resulting from the transaction which was closed. Pursuant to C.R.S. 10-11-122, the company will not issue its owner’s policy or owner’s policies of title insurance contemplated by this commitment until it has been provided a Certificate of Taxes due or other equivalent documentation from the County Treasurer or the County Treasurer’s authorized agent; or until the Proposed Insured has notified or instructed the company in writing to the contrary. The subject property may be located in a special taxing district. A Certificate of Taxes due listing each taxing jurisdiction shall be obtained from the County Treasurer or the County Treasurer’s authorized agent. 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: Pursuant to CRS 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. NOTE: Pursuant to Colorado Division of Insurance Regulations 8-1-2, 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 material-men 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 un-filed mechanic’s and material-men’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. Form 50-CO-Disclosure (4-1-16)Page 16 of 20 Disclosure Statement (5-1-15) Colorado NOTE: 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. NOTE: 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. NOTE: Pursuant to CRS 10-1-128(6)(a), It is unlawful to knowingly provide false, incomplete, or misleading facts or information to an insurance company for the purpose of defrauding or attempting to defraud the company. Penalties may include imprisonment, fines, denial of insurance and civil damages. Any insurance company or agent of an insurance company who knowingly provides false, incomplete, or misleading facts or information to a policyholder or claimant for the purpose of defrauding or attempting to defraud the policyholder or claimant with regard to a settlement or award payable from insurance proceeds shall be reported to the Colorado division of insurance within the department of regulatory agencies. NOTE: Pursuant to Colorado Division of Insurance Regulations 8-1-3, notice is hereby given of the availability of an ALTA Closing Protection Letter which may, upon request, be provided to certain parties to the transaction identified in the commitment. Nothing herein contained will be deemed to obligate the company to provide any of the coverages referred to herein unless the above conditions are fully satisfied. TELEPHONE 970 925-7328 FACSIMILE 970 925-7348 ATTORNEYS TITLE INSURANCE AGENCY OF ASPEN, LLC 715 West Main Street, Suite 202 Aspen, CO 81611 Attorneys Title Insurance Agency of Aspen, LLC Privacy Policy Notice PURPOSE OF THIS NOTICE Title V. of the Gramm-Leach-Bliley Act (GLBA) generally prohibits any financial institution, directly or through it affiliates, from sharing non-public personal information about you with a nonaffiliated third party unless the institution provides you with a notice of its privacy policies and practices, such as the type of information that it collects about you and the categories of persons or entities to whom it may be disclosed. In compliance with the GLBA, we are providing you with this document, which notifies you of the privacy policies and practices of Attorneys Title Insurance Agency of Aspen, LLC. We may collect nonpublic personal information about you from the following sources: Information we receive from you, such as on application or other forms. Information about your transactions we secure from out files, or from our affiliates or others. Information we receive from a consumer reporting agency. Information that we receive from others involved in your transaction, such as the real estate agent or lender. Unless it is specifically stated otherwise in an amended Privacy Policy Notice, no additional nonpublic personal information will be collected about you. We may disclose any of the above information that we collect about our customers or former customer to our affiliates or to nonaffiliated third parties as permitted by law. We also may disclose this information about our customers or former customers to the following types of nonaffiliated companies that perform marketing services on our behalf or with whom we have joint marketing agreements: Financial service providers such as companies engaged in banking, consumer finance, securities and insurance. Non-financial companies such as envelope stuffers and other fulfillment service providers. WE DO NOT DISCLOSE ANY NONPUBLIC PERSONAL INFORMATION ABOUT YOU WITH ANYONE FOR ANY PURPOSE THAT IS NOT SPECIFICALLY PERMITTED BY LAW. We restrict access to nonpublic personal information about you to those employees who need to know that information in order to provide products or services to you. We maintain physical, electronic, and procedural safeguards that comply with federal regulations to guard your nonpublic personal information. ~ First American Title™ -'T'- Privacy Notice Effective : November 1, 2019 Notice Last Updated: November 1, 2019 This Privacy Notice describes how First American Financial Corporation a nd its subsidiaries and affil iates (together referred to as "F irst American," "we," "us," or "our") collect , use, store, and share you r information . T his Privacy Notice applies to information we receive from you offline only, as well as from third parties. For more information about our privacy practices, please visit https ://www.firstam .com /privacy-policy/index.html. The practices described in th is Privacy Not ice are s ubject to applicable laws in the places in wh ich we operate. What Type Of Inform ation Do We Collect About You? We collect both personal and non-personal information about and from you. Personal information is non-public info rmation that can be used to directly or indirectly identify or contact you . Non-personal information is any other type of informat ion. How Do We Collect Your Information? We co llect yo ur personal and non-personal information: (1) directly f rom you; (2) automatically when you interact w ith us; and (3) from thi rd parties, incl uding business parties a nd affiliates. How Do We Use Your Information? We may use yo u r personal informat ion in a variety of ways, including but not limited to p roviding the services you have requested, fulfilling your transactions, comply with relevant laws and ou r policies , and ha nd ling a claim. We may use yo ur non-personal information for any purpose. How Do We Share Your Personal Information? We do not sell your personal information to nonaffiliated t hird parties. We will only share your personal information , includi ng to subsidiaries, affiliates, and to unaff iliated third part ies: (1) w ith your consent ; (2) in a business t ransfer; (3) to service providers; and (4) for legal process and protection . If you have any questions about how First American shares your personal information , you may co ntact us at data privacy@firstam.com or toll free at 1-866-718-0097. How Do We Secure Your Personal Information? The security of your personal information is important to us. That is why we take commercia lly reasonable steps to make su re your personal information is protected. We use our best efforts to maintain commercia ll y reasonable technical, organizational, and physical safeguards, consistent with appl icable law, to protect your personal information . How Long Do We Keep Your Personal Information ? We keep your personal information for as long as necessary in accordan ce with the pu rpose fo r w hich it was collected, our business needs, and our lega l and regu latory ob ligatio ns . Your Choices We provide you the ability to exercise certain controls and choices regarding our collection , use, storage, and sha ring of your personal information . In accordance with applicable law, your controls and choices. You can learn more about your c hoices, and exercise th ese controls and choices, by sending an email to dataprivacy@firstam .com or toll free at 1-866-718-0097. Intern ational Jurisdictions: Our Products are hosted and offered in t he United States of America (US), and are subject to US federal, state , and local law. If you are accessing the Products from another country, please be adv ised t ha t you may be transferring your personal information to us in the US , and you consent to that tran sfer and use of yo u r person al inform ation in accordance with t his Privacy Notice. You also agree to ab ide by the appl icable laws of applicable US federal , state , and local laws concerning your use of the Products , and your agreements with us. We may change this Privacy Notice from time to time. Any and all changes to this Privacy Notice will be reflected on th is page, and where appropriate provided in person or by another electronic method. YOUR CONTINUED USE, ACCESS, OR INTERACTION WITH OUR PRODUCTS OR YOUR CONTINUED COMMUNICATIONS WITH US AFTER THIS NOTICE HAS BEEN PROVIDED TO YOU WILL REPRESENT THAT YOU HAVE READ AND UNDERSTOOD THIS PRIVACY NOTICE. Contact Us dataprivacy@firstam.com or toll free at 1-866-718-0097. © 2019 First American Financial Corporation and/or its affiliates. All rights reserved. NYSE:FAF Form 10-PRIVACY19 (11-26-19) Page 1 of 3 Privacy Notice (2019 Fi rst American Financial Corporation)