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HomeMy WebLinkAboutEx 02 Ownership InformationEXHIBIT 2 TO LIMITED IMPACT REVIEW FOR STORAGE AND FABRICATION FACILITY (Including Request for Subdivision Plat Amendment) Parcel ID No. 2393-274-01-004 Page 028 CERTIFICATION OF OWNERSHIP The undersigned, Richard Y. Neiley, Jr., an attorney licensed to practice law in the State of Colorado, Colorado Attorney Registration No. 9878, hereby certifies as follows: 1. The owner of the real property located at 12744 Highway 82, Carbondale, Colorado, as described in the Title Commitment appended hereto as Exhibit A, Garfield County, Colorado, is Hipa Hipa LLC, c/o Glenn Loper, Manager, 307 AABC, Aspen, Colorado 81611. 2. There are no mortgages, judgments, liens, easements, contracts or agreements affecting the use and development of the subject real property or that could conflict with the approvals requested for the property. 3. The subject real property is a parcel legally and is depicted on the Dixon Subdivision Amended Plat, recorded May 17, 1996 as Reception No. 493122. 4. There are no mineral reservations and there are no third parties who own any mineral interests in the subject real property. 5. There is legal access to the subject real prop( y is Highway 82, a public right of way. STATE OF COLORADO ss. COUNTY OF GARFIELD ) LL RI HARD Y. NEILEY, JR. The foregoing Certificate of Ownership was acknowledged and signed before me this 21st day of February, 2020, by RICHARD Y. NEILEY, JR. WITNESS my hand and official seal. My commission expires: Notary Public My ANDR A JO CROUSE NOTARY PUBLIC STATE OF COLORADO NOTARY ID #20184 r` 74 E March 1, 2022 Page 029 Firstitimer can Title 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. First American Title Insurance Company Dennis,J Gilmore President Ai-Aiu6--nv Jeffrey S. Robinson Secretary 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 l—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. MMENIMi AMERICAN LAND TITLE ASSOCIATION Form 5030000 (1-31-17) Page 1 of 14 ALTA Commitment for Title Insurance (8-1-16) Page 030 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. 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 8, 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. Mina AMERICAN LAND TITLE ASSOCIATION Form 5030000 (1-31-17) Page 2 of 14 ALTA Commitment for Title Insurance (8-1-16) Page 031 (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. (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 8, 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. OMMOMBE AMERICAN LAND TITLE ASSOCIATION Form 5030000 (1-31-17) Page 3 of 14 ALTA Commitment for Title Insurance (8-1-16) Page 032 Frst erican ALTA Commitment for Title Insurance ISSUED BY First American Title Insurance Company xhibit File No.: 19004226 The Land referred to herein below is situated in the County of Garfield, State of Colorado, and is described as follows: PARCEL 1: Lot A, AMENDED FINAL PLAT OF LOT A OF THE DIXON SUBDIVISION, according to the Plat thereof recorded January 12, 2004, as Reception No. 644474, and Dixon Subdivision Third Amended Plat of Lot A, recorded December 23, 2015, as Reception No. 871742; PARCEL 2: Parcel C, DIXON SUBDIVISION AMENDED PLAT, according to the plat thereof recorded May 17, 1996 as Reception No. 493122, less that portion described in Order and Decree Quieting Title recorded August 4, 2003, in Book 1501 at Page 322, as Reception No. 633266; PARCEL 3: Parcel D, DIXON SUBDIVISION AMENDED PLAT, according to the plat thereof recorded May 17, 1996 as Reception No. 493122, Garfield County, Colorado. IForm 5000000-EX (7-1-14) Page 11 of 14 I Exhibit A Page 033 F 'st American de 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 12 of 14 I Disclosure Statement (5-1-15) Colorado Page 034 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. Form 50-CO-Disclosure (4-1-16) Page 13 of 14 I Disclosure Statement (5-1-15) Colorado Page 035 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. TELEPHONE 970 925-7328 A 1 FACSIMILE 970 925-7348 Page 036 Neiley Law Firm, LLC From: Millard Zimet <millardzimet@gmail.com> Sent: Thursday, September 19, 2019 1:47 PM To: Sweeney Shannon Cc: Neiley Law Firm, LLC; Trish Hirsch; Phipps Tiffany; Chaffier Lynn Subject: Planted Earth: Survey ? Attachments: Title Commitment - 8-30-19.pdf Shannon did the Seller ever produce a survey? I've got the title insurance commitment (attached) but we need the survey. Please advise re timing. thanks, MZ Millard J. Zimet, P.C. millardzimet@gmail.com tel: (970) 925-9009 Notice: This is so problematic I can barely look at it and likewise this email is for the sole use of the intended recipients and may contain information that is confidential and subject to the attomey-client privilege, and any unauthorized review, use, disclosure or distribution is prohibited, and in this day and age 1 can't believe I actually have to say this out loud but for those of you tuning in late when you're debating political issues kindly avoid the mistake of using logic or reason as that is simultaneously both jejune and counterproductive while adding nothing of any value to the disCUssiOn; by contrast the debate over hell and universalism would benefit greatly from more engagement with the literature on demonic possession, except that reading too much literature on demonic possession is probably a bad idea. Be that as it may, my spirit animal is Clippy because I frequently interrupt and provide unsolicited advice nobody needs. Do unto others as you would have them do unto you; the rest is commentary. 1 Page 037 ALTA Commitment for Title Insurance ISSUED BY First American Title Insurance Company chedule Transaction Identification Data for reference only: Issuing Agent: Winter VanAlstine Issuing Office's ALTA® Registry ID: 1019587 Issuing Office: Attorneys Title Insurance Agency of Aspen, LLC Loan ID No.: Commitment No.: 19004226 Issuing Office File No.: 19004226 Property Address: 12744 Highway 82 and parcels C and D of Dixon Subdivision, Carbondale, CO 81623 SCHEDULE A 1. Commitment Date: August 21, 2019 at 07:45 AM 2. Policy or Policies to be issued: A. ALTA Owners Policy (06/17/06) Proposed Insured: Baltic LLC, a Colorado limited liability company Certificate of Taxes Due Endorsements: CO-110.1 (Delete 1, 2, 3, 4) Additional Charges: Amount $2,400,000.00 Premium $2,541.00 $75.00 $75.00 $0 Total $2,691.00 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: Hipa Hipa LLC, 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: 12744 Highway 82 and parcels C and D of Dixon Subdivision, Carbondale, CO 81623. 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 8, 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. AMERICAN LAND TITLE ASSOCIATION Form 5033708-A (4-9-18) Page 4 of 14 ALTA Commitment for Title Insurance (8-1-16) Colorado - Schedule A Page 038 SCHEDULE A (Continued) Attorneys Title Insurance Agency of Aspen, LLC By: Yasiilachet- Winter VanAlstine 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 8, Part I —Requirements; Schedule 8, 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. AMERICAN LAND TITLE ASSOCIATION Form 5033708-A (4-9-18) Page 5 of 14 ALTA Commitment for Title Insurance (8-1-16) Colorado - Schedule A Page 039 Ft ecd 71t�eT". ALTA Commitment for Title Insurance ISSUED BY First American Title Insurance Company Schedule =11 Commitment No: 19004226 SCHEDULE B, PART I Requirements All of the following Requirements must be met: 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. Warranty Deed must be sufficient to convey the fee simple estate or interest in the land described or referred to herein, from Hipa Hipa LLC, a Colorado limited liability company, to Baltic LLC, a Colorado limited liability company, 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. 9. Release of the Deed of Trust from Hipa Hipa LLC, a Colorado limited liability company, to the Public Trustee of Garfield County for the benefit of Alpine Bank, A Colorado Banking Corporation, to secure an indebtedness in the principal sum of $750,000.00, and any other amounts and/obligations secured thereby, dated June 27, 2014, and recorded June 27, 2014, as Reception No. 850767. 10. Release of the Deed of Trust from Hipa Hipa LLC, a Colorado limited liability company, to the Public Trustee of Garfield County for the benefit of Colorado Lending Source, Ltd., to secure an indebtedness in the principal sum of $620,000.00, and any other amounts and/obligations secured thereby, dated July 24, 2014, and recorded July 29, 2014, as Reception No. 851908. 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 1—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. AMEAICAN LAND TITLE ASSOCIATION Form 5030008-BI&BII (5-18-17) Page 6 of 14 ALTA Commitment for Title Insurance (8-1-16) Colorado - Schedule BI & BII Page 040 First rican Tide' ALTA Commitment for Title Insurance ISSUED BY First American Title Insurance Company Schedule BI & BII (Cont.) 11. Record a Statement of Authority to provide prima facie evidence of existence of Hipa Hipa LLC, a Colorado limited liability company, 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. 12. A copy of the properly signed and executed Operating Agreement if written, for Hipa Hipa LLC, a Colorado limited liability company, to be submitted to the Company for review. 13. Certificate of Good Standing from the Colorado Secretary of State for Hipa Hipa LLC, a Colorado limited liability company. 14. Record a Statement of Authority to provide prima facie evidence of existence of Baltic LLC, a Colorado limited liability company, 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. 15. A copy of the properly signed and executed Operating Agreement if written, for Baltic LLC, a Colorado limited liability company, to be submitted to the Company for review. 16. Certificate of Good Standing from the Colorado Secretary of State for Baltic LLC, a Colorado limited liability company. 17. Improvement Survey Plat sufficient in form, content and certification acceptable to the Company. Exception will be taken to adverse matters disclosed thereby. 18. Receipt by the Company of the appropriate Lease Affidavit indemnifying the Company against any existing leases or tenancies, and any and all parties claiming by, through or under said lessees. 19. This Title Commitment is subject to underwriter approval. Form 50-CO-Disclosure (4-1-16) Page 7 of 14 I Disclosure Statement (5-1-15) Colorado Page 041 first er can Ti ' ALTA Commitment for Title Insurance ISSUED BY First American Title Insurance Company Schedule BI & BII (Cont.) Commitment No.: 19004226 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 2018, and taxes for 2019 and subsequent years, a lien not yet due or payable. 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 l—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. MEMEINIMME AMERICAN LANDC AT OL E ASSON Form 5030008-BI&BII (5-18-17) Page 8 of 14 ALTA Commitment for Title Insurance (8-1-16) Colorado - Schedule BI & Bit Page 042 Firs tAmerican Title ALTA Commitment for Title Insurance ISSUED BY First American Title Insurance Company Schedule BI & BII (Cont.) 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 November 20, 1891, and recorded May 27, 1895, in Book 12 at Page 366, as Reception No. 184215. 11. Terms, conditions, provisions, agreements and obligations specified under the Quit Claim Deed, recorded June 27, 1921, and recorded August 3, 1921, as Reception No. 076290. 12. Terms, conditions, provisions, agreements and obligations specified under the Warranty Deed, recorded June 4, 1941, as Reception No. 143777. 13. Terms, conditions, provisions, agreements and obligations specified under the Warranty Deed, recorded September 18, 1956, in Book 295 at Page 178, as Reception No. 195255. 14. Terms, conditions, provisions, agreements and obligations specified under the Warranty Deed, recorded July 30, 1957, in Book 302 at Page 213, as Reception No. 198577. 15. Terms, conditions, provisions, agreements and obligations together with the right of ingress and egress thereto on that certain private roadway, as described in the Warranty Deed recorded May 17, 1961, in Book 334 at Page 169, as Reception No. 213773, and in the Warranty Deed recorded April 9, 1962, in Book 340 at Page 349, as Reception No. 217138, and in the Warranty Deed recorded July 1, 1980, in Book 551 at Page 64, as Reception No. 305226. 16. Terms, conditions, provisions, agreements and obligations specified under the instrument recorded September 4, 1973, in Book 449 at Page 153, as Reception No. 259803. 17. Terms, conditions, provisions, agreements and obligations specified under Resolution No. 79-60, recorded June 12, 1979, in Book 529 at Page 704, as Reception No. 294840. 18. Terms, conditions, provisions, agreements and obligations specified under the Easement, dated June 13, 1980, and recorded July 1, 1980, in Book 551 at Page 66, as Reception No. 305227. 19. Terms, conditions, provisions, agreements and obligations specified under the Warranty Deed, recorded September 10, 1985, in Book 675 at Page 324, as Reception No. 364865. 20. Terms, conditions, provisions, agreements and obligations specified under the Warranty Deed, recorded June 18, 1958, in Book 309 at Page 468, as Reception No. 202011, Quit Claim Deed, recorded September 10, 1985, in Book 675 at Page 327, as Reception No. 364866, and Quit Claim Deed, recorded August 9, 1991, in Book 810 at Page 791, as Reception No. 426316, and Quit Claim Deed, recorded August 9, 1991, in Book 810 at Page 795, as Reception No. 426317, and Quitclaim Deed, recorded May 21, 1996, in Book 978 at Page 742, as Reception No. 493271, and Quit Claim Deed (Water Rights Transfer) recorded June 27, 2014, as Reception No. 850766. 21. Terms, conditions, provisions, agreements and obligations specified under the Cooperative Agreement for Permanent Damage Prevention Fencing, recorded November 14, 1988, in Book 744 at Page 172, as Reception No. 396801. 22. Terms, conditions, provisions, agreements and obligations specified under the Affidavit re: Boundary Line Adjustment, recorded May 8, 1992, in Book 831 at Page 106, as Reception No. 434508, and Affidavit re: Boundary Line Adjustment, recorded June 5, 2001, as Reception No. 582165. 23. Any and all notes, easements and recitals as disclosed on the recorded Dixon Subdivision Amended Plat, recorded May 17, 1996, as Reception No. 493122, and Amended Final Plat of Lot A of the Dixon Subdivision, recorded January 12, 2004, as Reception No. 644474, and Dixon Subdivision Third Amended Plat of Lot A, recorded December 23, 2015, as Reception No. 871742. Form 50-CO-Disclosure (4-1-16) Page 9 of 14 I Disclosure Statement (5-1-15) Colorado Page 043 Firsi l er carp Tide ALTA Commitment for Title Insurance ISSUED BY First American Title Insurance Company Schedule BI & BII (Cont.) 24. Terms, conditions, provisions, agreements and obligations specified under the Easement Agreement, recorded April 20, 2000, as Reception No. 562316, and Easement Agreement recorded April 17, 2000, as Reception No. 562130. 25. Terms, conditions, provisions, agreements and obligations specified under the Easement Agreement, recorded June 5, 2001, as Reception No. 582167. 26. Terms, conditions, provisions, agreements and obligations specified under the Agreement, recorded November 27, 2001, in Book 1306 at Page 364, as Reception No. 592490, and Agreement, recorded November 27, 2001, as Reception No. 592491, and Agreement, recorded November 27, 2001, as Reception No. 592492. 27. Terms, conditions, provisions, agreements and obligations specified under the Order and Decree Quieting Title, recorded August 4, 2003, in Book 1501 at Page 322, as Reception No. 633266. 28. Terms, conditions, provisions, agreements and obligations specified under the Holy Cross Energy Right -of -Way Easement, recorded April 16, 2008, as Reception No. 746592. 29. Terms, conditions, provisions, agreements and obligations specified under Resolution No. 2019-30, recorded May 7, 2019, as Reception No. 920057. 30. Any existing leases or tenancies, and any and all parties claiming by, through or under said lessees. NOTE: Upon receipt of a Lease Affidavit from Seller, this exception will not appear on the final title policy. Form 50-CO-Disclosure (4-1-16) Page 10 of 14 I Disclosure Statement (5-1-15) Colorado Page 044