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HomeMy WebLinkAbout1.02 Updated Title CommitmentLand Title Guarantee Company Customer Distribution PREVENT FRAUD - Please remember to call a member of our closing team when initiating a wire transfer or providing wiring instructions. Order Number:ABS63014023-2 Date: 08/21/2019 Property Address:1097 COUNTY ROAD 116, GLENWOOD SPRINGS, CO 81601 PLEASE CONTACT YOUR CLOSER OR CLOSER'S ASSISTANT FOR WIRE TRANSFER INSTRUCTIONS For Closing Assistance Closer's Assistant For Title Assistance Charles Ottinger 3033 EAST FIRST AVENUE, SUITE 600 DENVER, CO 80206 (303) 331-6216 (Work) (303) 393-3870 (Work Fax) cottinger@ltgc.com Company License: CO44565 Sarah Cozzini 3033 EAST FIRST AVENUE, SUITE 600 DENVER, CO 80206 (303) 331-6214 (Work) (303) 393-3912 (Work Fax) scozzini@ltgc.com Company License: CO44565 Nicole Hall 5975 GREENWOOD PLAZA BLVD GREENWOOD VILLAGE, CO 80111 (303) 850-4189 (Work) nhall@ltgc.com FIRSTBANK, A COLORADO STATE BANKING CORPORATION Attention: MIRIAM / CHRISTINE - 9015773 clordering@efirstbank.com Delivered via: Electronic Mail Land Title Guarantee Company Estimate of Title Fees Order Number:ABS63014023-2 Date: 08/21/2019 Property Address:1097 COUNTY ROAD 116, GLENWOOD SPRINGS, CO 81601 Parties:AIRPORT MINI STORAGE, LLC, A DELINQUENT LIMITED LIABILITY COMPANY Visit Land Title's Website at www.ltgc.com for directions to any of our offices. Estimate of Title insurance Fees "ALTA" Loan Policy 06-17-06 $5,243.00 Endorsement 100-06 $524.00 Tax Certificate $26.00 Total $5,793.00 If Land Title Guarantee Company will be closing this transaction, the fees listed above will be collected at closing. Thank you for your order! Note: The documents linked in this commitment should be reviewed carefully. These documents, such as covenants conditions and restrictions, may affect the title, ownership and use of the property. You may wish to engage legal assistance in order to fully understand and be aware of the implications of the effect of these documents on your property. Chain of Title Documents: Garfield county recorded 12/22/2016 under reception no. 886854 Customer Ref-Loan No.:9015773 Property Address: 1097 COUNTY ROAD 116, GLENWOOD SPRINGS, CO 81601 1.Effective Date: 07/30/2019 at 5:00 P.M. 2.Policy to be Issued and Proposed Insured: "ALTA" Loan Policy 06-17-06 Proposed Insured: FIRSTBANK, A COLORADO STATE BANKING CORPORATION, ITS SUCCESSORS AND/OR ASSIGNS $2,957,500.00 3.The estate or interest in the land described or referred to in this Commitment and covered herein is: A Fee Simple 4.Title to the estate or interest covered herein is at the effective date hereof vested in: AIRPORT MINI STORAGE, LLC, A DELINQUENT LIMITED LIABILITY COMPANY 5.The Land referred to in this Commitment is described as follows: A PARCEL OF LAND SITUATED IN THE SE1/4NE1/4 AND IN THE NE1/4SE1/4 OF SECTION 27, TOWNSHIP 6 SOUTH, RANGE 89 WEST OF THE SIXTH PRINCIPAL MERIDIAN, COUNTY OF GARFIELD, STATE OF COLORADO, SAID PARCEL LYING WESTERLY OF THE CENTER OF THE ROARING FORK RIVER AND BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: BEGINNING AT THE CENTERLINE OF THE ROARING FORK RIVER, FROM WHICH THE EAST QUARTER CORNER OF SAID SECTION 27, A G.L.O. BRASS CAP STANDARD MONUMENT BEARS S. 88 DEGREES 20'00" E. A DISTANCE OF 786.50 FEET; THENCE S. 07 DEGREES 00'00" E. ALONG SAID CENTERLINE A DISTANCE OF 5.11 FEET; THENCE S. 11 DEGREES 55'12" E. ALONG SAID CENTERLINE A DISTANCE OF 167.56 FEET TO THE SOUTHEAST CORNER OF THAT PARCEL DESCRIBED IN BOOK 348 AT PAGE 87 OF THE GARFIELD COUNTY RECORDS; THENCE S. 63 DEGREES 48'00' W. ALONG THE SOUTHERLY LINE OF SAID PARCEL, A DISTANCE OF 310.00 FEET; THENCE N. 26 DEGREES 12'00" E. ALONG THE WESTERLY LINE OF SAID PARCEL, A DISTANCE OF 176.64 FEET; THENCE N. 01 DEGREE 40'00" E. ALONG THE WESTERLY LINE OF SAID PARCEL, A DISTANCE OF 204.14 FEET TO THE WESTERLY LINE OF THAT PARCEL OF LAND DESCRIBED IN BOOK 275 AT PAGE 346 OF THE GARFIELD COUNTY RECORDS; THENCE N. 30 DEGREES 19'00" W. ALONG THE WESTERLY LINE OF SAID PARCEL, A DISTANCE OF 438.00 FEET TO THE SOUTHERLY LINE OF THAT PARCEL OF LAND DESCRIBED IN BOOK 343 AT PAGE 365 OF THE GARFIELD COUNTY RECORDS; THENCE N. 15 DEGREES 57'00" W. A DISTANCE OF 9.21 FEET; THENCE N. 13 DEGREES 19'17" W. ALONG SAID WESTERLY LINE, A DISTANCE OF 52.35 FEET; THENCE N. 18 DEGREES 51'56" W. ALONG SAID WESTERLY LINE, A DISTANCE OF 239.57 FEET; THENCE N. 21 DEGREES 05'54" W. A DISTANCE OF 119.29 FEET; THENCE N. 69 DEGREES 11'48" E. ALONG THE NORTHERLY LINE OF SAID PARCEL, A DISTANCE OF ALTA COMMITMENT Old Republic National Title Insurance Company Schedule A Order Number:ABS63014023-2 470.20 FEET TO THE NORTHEAST CORNER OF SAID PARCEL AT THE CENTER OF THE ROARING FORK RIVER; THENCE S. 09 DEGREES 59'48" E. ALONG THE EASTERLY LINE OF SAID PARCEL, AND ALONG THE CENTER OF SAID RIVER, A DISTANCE OF 346.19 FEET; THENCE S 07 DEGREES 00'00" E. ALONG THE EASTERLY LINE OF SAID PARCEL AND ALONG THE CENTER OF SAID RIVER, A DISTANCE OF 655.29 FEET TO THE POINT OF BEGINNING. TOGETHER WITH: THE PROPERTY CONVEYED BY THE CITY OF GLENWOOD SPRINGS IN DEED RECORDED AUGUST 5, 2014 AT RECEPTION NO. 852205 EXCEPTING THEREFROM THE RIGHT OF WAY FOR COUNTY ROAD. AND EXCEPTING THEREFROM THAT PORTION DESCRIBED AS FOLLOWS: A PARCEL OF LAND SITUATED IN THE NORTHEAST QUARTER OF THE SOUTHEAST QUARTER OF SECTION 27, TOWNSHIP 6 SOUTH, RANGE 89 WEST OF THE SIXTH PRINCIPAL MERIDIAN, BEING A PORTION OF LANDS DESCRIBED IN BOOK 348 AT PAGE 87, AS RECORDED IN GARFIELD COUNTY PUBLIC RECORDS, AND DEPICTED AS AREA RESULTING FROM BEARING QUADRANT ERROR ON THE SCHMUESER GORDON MEYER, GLENWOOD SPRINGS AIRPORT PLAT, RECORDED IN THE LAND SURVEY PLAT DEPOSITORY AS PAGE 549, COUNTY OF GARFIELD, STATE OF COLORADO, BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: BEGINNING AT A POINT ON THE WEST BOUNDARY OF LANDS DESCRIBED IN WARRANTY DEED RECORDED AS RECEPTION NO. 630254 IN SAID PUBLIC RECORDS AND ALSO BEING ON THE EAST BOUNDARY OF LANDS DEFINED ON SAID GLENWOOD SPRINGS AIRPORT PLAT, FROM WHICH THE EAST QUARTER CORNER OF SAID SECTION 27 BEARS N83°04'21"E, 1026.92 FEET; THENCE UPON THE WEST AND SOUTH LINES OF LANDS DEFINED IN SAID BOOK 348 AT PAGE 87 THE FOLLOWING TWO (2) COURSES: 1.) S26°12'00"W, 171.64 FEET; 2.) N63° 48'00"E, 133.84 FEET TO A POINT ON THE EAST LINE OF LANDS DEFINED ON SAID GLENWOOD SPRINGS AIRPORT PLAT; THENCE UPON SAID WEST BOUNDARY OF LANDS DESCRIBED IN WARRANTY DEED RECORDED AS RECEPTION NO. 630254 AND ALSO BEING ON SAID EAST BOUNDARY OF LANDS DEFINED ON GLENWOOD SPRINGS AIRPORT PLAT THE FOLLOWING TWO (2) COURSES: 1.) N26°12'00"W, 100.66 FEET; 2.) N01°40'00"E, 4.60 FEET TO THE POINT OF BEGINNING. COUNTY OF GARFIELD STATE OF COLORADO TOGETHER WITH THAT PORTION CONVEYED FROM THE CITY OF GLENWOOD SPRINGS, A HOME-RULE MUNICIPAL CORPORATION IN QUIT CLAIM DEED RECORDED NOVEMBER 21, 2017 UNDER RECEPTION NO. 900129 AND LESS AND EXCEPT THAT PORTION CONVEYED TO THE GLENWOOD SPRINGS, A HOME-RULE ALTA COMMITMENT Old Republic National Title Insurance Company Schedule A Order Number:ABS63014023-2 Copyright 2006-2019 American Land Title Association. All rights reserved. The use of this Form 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. MUNICIPAL CORPORATION IN QUIT CLAIM DEED RECORDED NOVEMBER 21, 2017 UNDER RECEPTION NO. 900128 ALTA COMMITMENT Old Republic National Title Insurance Company Schedule A Order Number:ABS63014023-2 ALTA COMMITMENT Old Republic National Title Insurance Company Schedule B, Part I (Requirements) Order Number: ABS63014023-2 All of the following Requirements must be met: This 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. Pay the agreed amount for the estate or interest to be insured. Pay the premiums, fees, and charges for the Policy to the Company. 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. 1.RELEASE OF DEED OF TRUST DATED NOVEMBER 25, 2016 FROM AIRPORT MINI STORAGE, LLC, A LIMITED LIABILITY COMPANY TO THE PUBLIC TRUSTEE OF GARFIELD COUNTY FOR THE USE OF FIRSTBANK TO SECURE THE SUM OF $1,336,500.00 RECORDED DECEMBER 22, 2016, UNDER RECEPTION NO. 886855. DISBURSER'S NOTICE IN CONNECTION WITH SAID DEED OF TRUST WAS RECORDED DECEMBER 22, 2016, UNDER RECEPTION NO. 886856. 2.PROVIDE LAND TITLE GUARANTEE COMPANY WITH A CURRENT SURVEY OF SUBJECT PROPERTY. UPON REVIEW, ADDITIONAL REQUIREMENTS AND/OR EXCEPTIONS MAY BE NECESSARY. LAND TITLE IS NOT RESPONSIBLE FOR ORDERING SAID SURVEY. SAID SURVEY MUST BE CERTIFIED TO LAND TITLE GUARANTEE COMPANY AND OLD REPUBLIC NATIONAL TITLE INSURANCE COMPANY. 3.CERTIFICATE OF GOOD STANDING OF AIRPORT MINI STORAGE, LLC, A LIMITED LIABILITY COMPANY, ISSUED BY THE SECRETARY OF STATE OF COLORADO. NOTE: SAID AIRPORT MINI STORAGE, LLC, A LIMITED LIABILITY COMPANY IS CURRENTLY LISTED AS DELINQUENT IN SAID SECRETARY OF STATE RECORDS. 4.A FULL COPY OF THE FULLY EXECUTED OPERATING AGREEMENT AND ANY AND ALL AMENDMENTS THERETO FOR AIRPORT MINI STORAGE, LLC, A LIMITED LIABILITY COMPANY MUST BE FURNISHED TO LAND TITLE GUARANTEE COMPANY. SAID AGREEMENT MUST DISCLOSE WHO MAY CONVEY, ACQUIRE, ENCUMBER, LEASE OR OTHERWISE DEAL WITH INTERESTS IN REAL PROPERTY FOR SAID ENTITY. NOTE: ADDITIONAL REQUIREMENTS MAY BE NECESSARY UPON REVIEW OF THIS DOCUMENTATION. 5.DEED OF TRUST FROM AIRPORT MINI STORAGE, LLC, A DELINQUENT LIMITED LIABILITY COMPANY TO THE PUBLIC TRUSTEE OF GARFIELD COUNTY FOR THE USE OF FIRSTBANK, A COLORADO STATE BANKING CORPORATION TO SECURE THE SUM OF $2,957,500.00. NOTE: STATEMENT OF AUTHORITY FOR AIRPORT MINI STORAGE, LLC, A LIMITED LIABILITY COMPANY RECORDED JUNE 21, 2017 UNDER RECEPTION NO. 893801 DISCLOSES MARK C. GOULD AS MANAGER WHO MAY ACQUIRE, CONVEY, ENCUMBER, LEASE OR OTHERWISE DEAL WITH INTERESTS IN REAL PROPERTY FOR SAID ENTITY. This commitment does not republish any covenants, condition, restriction, or limitation contained in any document referred to in this commitment to the extent that the specific covenant, conditions, restriction, or limitation violates state or federal law based on race, color, religion, sex, sexual orientation, gender identity, handicap, familial status, or national origin. 1.Any facts, rights, interests, or claims thereof, not shown by the Public Records but that could be ascertained by an inspection of the Land or that may be asserted by persons in possession of the Land. 2.Easements, liens or encumbrances, or claims thereof, 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 of the proposed insured acquires of record for value the estate or interest or mortgage thereon covered by this Commitment. 6.(a) Taxes or assessments that are not shown as existing liens by the records of any taxing authority that levies taxes or assessments on real property or by the Public Records; (b) proceedings by a public agency that may result in taxes or assessments, or notices of such proceedings, whether or not shown by the records of such agency or by the Public Records. 7.(a) Unpatented mining claims; (b) reservations or exceptions in patents or in Acts authorizing the issuance thereof; (c) water rights, claims or title to water. 8.EXISTING LEASES AND TENANCIES. 9.RIGHT OF THE PROPRIETOR OF A VEIN OR LODE TO EXTRACT AND REMOVE HIS ORE THEREFROM, SHOULD THE SAME BE FOUND TO PENETRATE OR INTERSECT THE PREMISES HEREBY GRANTED, AND A RIGHT OF WAY FOR DITCHES OR CANALS CONSTRUCTED BY THE AUTHORITY OF THE UNITED STATES, AS RESERVED IN UNITED STATES PATENT RECORDED APRIL 29, 1894 IN BOOK 12 AT PAGE 318. 10.TERMS, CONDITIONS AND PROVISIONS OF RESOLUTION NO. 2014-50 RECORDED SEPTEMBER 16, 2014 AT RECEPTION NO. 853611. 11.ANY RIGHTS, INTERESTS OR EASEMENTS IN FAVOR OF RIPARIAN OWNERS, THE STATE OF COLORADO, THE UNITED STATES OF AMERICA ACTING BY AND THROUGH THE SECRETARY OF HOUSING AND URBAN DEVELOPMENT OF WASHINGTON, D.C., OR THE GENERAL PUBLIC, WHICH EXIST, HAVE EXISTED, OR ARE CLAIMED TO EXIST IN AND OVER THE WATERS AND PRESENT AND PAST BED BANKS OF THE ROARING FORK RIVER. ALTA COMMITMENT Old Republic National Title Insurance Company Schedule B, Part II (Exceptions) Order Number: ABS63014023-2 12.ANY QUESTION, DISPUTE OR ADVERSE CLAIMS AS TO ANY LOSS OR GAIN OF LAND AS A RESULT OF ANY CHANGE IN THE RIVER BED LOCATION BY OTHER THAN NATURAL CAUSES, OR ALTERATION THROUGH ACCRETION, RELICTION, EROSION OR AVULSION OF THE CENTER THREAD, BANK, CHANNEL OR FLOW OF WATERS IN THE ROARING FORK RIVER LYING WITHIN THE SUBJECT PROPERTY. 13.TERMS, CONDITIONS, AND PROVISIONS CONTAINED IN AGREEMENT RECORDED NOVEMBER 21, 2017, UNDER RECEPTION NO. 900126. 14.EASEMENTS, CONDITIONS, COVENANTS, RESTRICTIONS, RESERVATIONS AND NOTES ON THE LOT BOUNDARY ADJUSTMENT PLAT OF CITY OF GLENWWOD SPRINGS & AIRPORT MINI STORAGE, LLC PROPERTIES RECORDED NOVEMBER 21, 2017 UNDER RECEPTION NO. 900127. 15.TERMS, CONDITIONS, AND PROVISIONS CONTAINED IN QUITCLAIM DEED RECORDED NOVEMBER 21, 2017, UNDER RECEPTION NO. 900128. 16.TERMS, CONDITIONS, AND PROVISIONS CONTAINED IN QUITCLAIM DEED RECORDED NOVEMBER 21, 2017, UNDER RECEPTION NO. 900129. 17.TERMS, CONDITIONS, PROVISIONS, BURDENS, OBLIGATIONS AND EASEMENTS AS SET FORTH AND GRANTED IN SLOPE MAINTENANCE EASEMENT RECORDED NOVEMBER 21, 2017 UNDER RECEPTION NO. 900130. ALTA COMMITMENT Old Republic National Title Insurance Company Schedule B, Part II (Exceptions) Order Number: ABS63014023-2 LAND TITLE GUARANTEE COMPANY DISCLOSURE STATEMENTS Note: Pursuant to CRS 10-11-122, notice is hereby given that: Note: Effective September 1, 1997, CRS 30-10-406 requires that all documents received for recording or filing in the clerk and recorder's office shall contain a top margin of at least one inch and a left, right and bottom margin of at least one half of an inch. The clerk and recorder may refuse to record or file any document that does not conform, except that, the requirement for the top margin shall not apply to documents using forms on which space is provided for recording or filing information at the top margin of the document. Note: Colorado Division of Insurance Regulations 8-1-2 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 Land Title Guarantee Company conducts the closing of the insured transaction and is responsible for recording the legal documents from the transaction, exception number 5 will not appear on the Owner's Title Policy and the Lenders Policy when issued. Note: 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: No coverage will be given under any circumstances for labor or material for which the insured has contracted for or agreed to pay. The Subject real property may be located in a special taxing district.(A) A certificate of taxes due listing each taxing jurisdiction will be obtained from the county treasurer of the county in which the real property is located or that county treasurer's authorized agent unless the proposed insured provides written instructions to the contrary. (for an Owner's Policy of Title Insurance pertaining to a sale of residential real property). (B) The information regarding special districts and the boundaries of such districts may be obtained from the Board of County Commissioners, the County Clerk and Recorder, or the County Assessor. (C) The land described in Schedule A of this commitment must be a single family residence which includes a condominium or townhouse unit. (A) 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. (B) The Company must receive an appropriate affidavit indemnifying the Company against un-filed mechanic's and material-men's liens. (C) The Company must receive payment of the appropriate premium.(D) If there has been construction, improvements or major repairs undertaken on the property to be purchased within six months prior to the Date of 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. (E) Note: Pursuant to CRS 10-11-123, notice is hereby given: This notice applies to owner's policy commitments disclosing that a mineral estate has been severed from the surface estate, in Schedule B-2. 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 a closing protection letter for the lender, purchaser, lessee or seller in connection with this transaction. That there is recorded evidence that a mineral estate has been severed, leased, or otherwise conveyed from the surface estate and that there is substantial likelihood that a third party holds some or all interest in oil, gas, other minerals, or geothermal energy in the property; and (A) That such mineral estate may include the right to enter and use the property without the surface owner's permission. (B) JOINT NOTICE OF PRIVACY POLICY OF LAND TITLE GUARANTEE COMPANY, LAND TITLE GUARANTEE COMPANY OF SUMMIT COUNTY LAND TITLE INSURANCE CORPORATION AND OLD REPUBLIC NATIONAL TITLE INSURANCE COMPANY This Statement is provided to you as a customer of Land Title Guarantee Company as agent for Land Title Insurance Corporation and Old Republic National Title Insurance Company. We want you to know that we recognize and respect your privacy expectations and the requirements of federal and state privacy laws. Information security is one of our highest priorities. We recognize that maintaining your trust and confidence is the bedrock of our business. We maintain and regularly review internal and external safeguards against unauthorized access to your non-public personal information ("Personal Information"). In the course of our business, we may collect Personal Information about you from: applications or other forms we receive from you, including communications sent through TMX, our web-based transaction management system; your transactions with, or from the services being performed by us, our affiliates, or others; a consumer reporting agency, if such information is provided to us in connection with your transaction; and The public records maintained by governmental entities that we obtain either directly from those entities, or from our affiliates and non-affiliates. Our policies regarding the protection of the confidentiality and security of your Personal Information are as follows: We restrict access to all Personal Information about you to those employees who need to know that information in order to provide products and services to you. We may share your Personal Information with affiliated contractors or service providers who provide services in the course of our business, but only to the extent necessary for these providers to perform their services and to provide these services to you as may be required by your transaction. We maintain physical, electronic and procedural safeguards that comply with federal standards to protect your Personal Information from unauthorized access or intrusion. Employees who violate our strict policies and procedures regarding privacy are subject to disciplinary action. We regularly assess security standards and procedures to protect against unauthorized access to Personal Information. WE DO NOT DISCLOSE ANY PERSONAL INFORMATION ABOUT YOU WITH ANYONE FOR ANY PURPOSE THAT IS NOT STATED ABOVE OR PERMITTED BY LAW. Consistent with applicable privacy laws, there are some situations in which Personal Information may be disclosed. We may disclose your Personal Information when you direct or give us permission; when we are required by law to do so, for example, if we are served a subpoena; or when we suspect fraudulent or criminal activities. We also may disclose your Personal Information when otherwise permitted by applicable privacy laws such as, for example, when disclosure is needed to enforce our rights arising out of any agreement, transaction or relationship with you. Our policy regarding dispute resolution is as follows: Any controversy or claim arising out of or relating to our privacy policy, or the breach thereof, shall be settled by arbitration in accordance with the rules of the American Arbitration Association, and judgment upon the award rendered by the arbitrator(s) may be entered in any court having jurisdiction thereof. Commitment For Title Insurance Issued by Old Republic National Title Insurance Corporation 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, Old Republic National Title Insurance Company, a Minnesota 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 6 months after the Commitment Date, this Commitment terminates and the Company’s liability and obligation end. COMMITMENT CONDITIONS 1. DEFINITIONS 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, Comitment 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: 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 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. “Knowledge” or “Known”: Actual or imputed knowledge, but not constructive notice imparted by the Public Records.(a) “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. (b) “Mortgage”: A mortgage, deed of trust, or other security instrument, including one evidenced by electronic means authorized by law.(c) “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. (d) “Proposed Insured”: Each person identified in Schedule A as the Proposed Insured of each Policy to be issued pursuant to this Commitment.(e) “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. (f) “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. (g) “Title”: The estate or interest described in Schedule A.(h) the Notice;(a) the Commitment to Issue Policy;(b) the Commitment Conditions;(c) Schedule A;(d) Schedule B, Part I—Requirements; and(e) Schedule B, Part II—Exceptions; and(f) a counter-signature by the Company or its issuing agent that may be in electronic form.(g) 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: (a) 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. (b) 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. (c) 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. (d) The Company shall not be liable for the content of the Transaction Identification Data, if any.(e) 6. LIABILITY OF THE COMPANY MUST BE BASED ON THIS COMMITMENT 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. IN WITNESS WHEREOF, Land Title Insurance Corporation has caused its corporate name and seal to be affixed by its duly authorized officers on the date shown in Schedule A to be valid when countersigned by a validating officer or other authorized signatory. Issued by: Land Title Guarantee Company 3033 East First Avenue Suite 600 Denver, Colorado 80206 303-321-1880 President This page is only a part of a 2016 ALTA® Commitment for Title Insurance issued by Land Title Insurance Corporation. This Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I—Requirements; and 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. 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. (f) In any event, the Company’s liability is limited by the terms and provisions of the Policy.(g) Only a Proposed Insured identified in Schedule A, and no other person, may make a claim under this Commitment.(a) Any claim must be based in contract and must be restricted solely to the terms and provisions of this Commitment.(b) 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. (c) 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. (d) Any amendment or endorsement to this Commitment must be in writing and authenticated by a person authorized by the Company.(e) 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.(f)