HomeMy WebLinkAbout1.03 Title Commitment111 E. 3rd Street
Floor 1, Suite 101
Rifle, CO 81650
Phone: 970-625-5426 Fax: 844-269-2759
www.titlecorockies.com
Commitment Ordered By:
Todd Barton
Rising Tides Enterprises, LLC
2361 46 1/2 Road
DeBeque, CO 81630
email: toddebarton@msn.com
Inquiries should be directed to:
Kari Arneson
Title Company of the Rockies
111 E. 3rd Street
Floor 1, Suite 101
Rifle, CO 81650
Phone: 970-625-5426 Fax: 844-269-2759
email: KArneson@titlecorockies.com
Commitment Number:1204972-C
Buyer's Name(s):Purchaser with contractual rights under a purchaser agreement with the vested owner identified
at item 4 below
Seller's Name(s):Rising Tides Enterprises, LLC, a Colorado limited liability company
Property:TBD, Parachute, CO 81635
MONUMENT CREEK VILLAGE SEC. 2, Garfield County, Colorado
TITLE CHARGES
These charges are based on issuance of the policy or policies described in the attached Commitment for Title Insurance, and includes premiums
for the proposed coverage amount(s) and endorsement(s) referred to therein, and may also include additional work and/or third party charges
related thereto.
If applicable, the designation of “Buyer” and “Seller” shown below may be based on traditional settlement practices in Garfield County,
Colorado, and/or certain terms of any contract, or other information provided with the Application for Title Insurance.
Owner’s Policy Premium:
Loan Policy Premium:
Additional Lender Charge(s):
Additional Other Charge(s):
Tax Certificate:
Total Endorsement Charge(s):
TBD Charge(s):
TOTAL CHARGES:
$0.00
$0.00
$25.00
$250.00
$275.00
Service Beyond Expectation in Colorado for: Eagle, Garfield, Grand, Pitkin and Summit Counties. (Limited Coverage: Jackson, Lake, Park and Routt Counties)
Locations In: Avon/Beaver Creek, Basalt, Breckenridge, Grand Lake and Winter Park. (Closing Services available in Aspen and Glenwood Springs).
CM-2 (ALTA Commitment for Title Insurance (6-17-06)(WLTIC Edition (9/26/07)
ALTA Commitment For Title Insurance
(Adopted 06-17-06) (Revised 08-01-2016)
COMMITMENT FOR TITLE INSURANCE
ISSUED BY
WESTCOR LAND 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, W ERE 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,
WESTCOR LAND TITLE INSURANCE COMPANY, a South Carolina 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 (6) months after the Commitment Date, this
Commitment terminates and the Company's liability and obligation end.
IN WITNESS WHEREOF, WESTCOR LAND TITLE INSURANCE COMPANY has caused its corporate name and seal to be
hereunto affixed and by these presents to be signed in facsimile under authority of its by-laws, effective as of the date of
Commitment shown in Schedule A.
Issued By:
WESTCOR LAND TITLE INSURANCE COMPANY
Title Company of the Rockies, LLC
10 W Beaver Creek Blvd., Suite 221, PO Box
980
Avon, CO 81620-0980
Phone: (970) 949-9497
Westcor Land Title Insurance Company
ALTA Commitment -2006 (6-17-06)
(Reverse side of Cover)
CONDITIONS
The term mortgage, when used herein, shall include deed of trust, trust deed, or other security instrument.1.
If the proposed Insured has or acquired actual knowledge of any defect, lien, encumbrance, adverse claim2.
or other matter affecting the estate or interest or mortgage thereon covered by this Commitment other
than those shown in Schedule B hereof, and shall fail to disclose such knowledge to the Company in
writing, the Company shall be relieved from liability for any loss or damage resulting from any act of
reliance hereon to the extent the Company is prejudiced by failure to so disclose such knowledge. If the
proposed Insured shall disclose such knowledge to the Company, or if the Company otherwise acquires
actual knowledge of any such defect, lien, encumbrance, adverse claim or other matter, the Company at
its option may amend Schedule B of this Commitment accordingly, but such amendment shall not relieve
the Company from liability previously incurred pursuant to paragraph 3 of these Conditions and
Stipulations.
Liability of the Company under this Commitment shall be only to the named proposed Insured and such3.
parties included under the definition of Insured in the form of policy or policies committed for and only for
actual loss incurred in reliance hereon in undertaking in good faith (a) to comply with the requirements
hereof, or (b) to eliminate exceptions shown in Schedule B, or (c) to acquire or create the estate or interest
or mortgage thereon covered by this Commitment. In no event shall such liability exceed the amount
stated in Schedule A for the policy or policies committed for and such liability is subject to the insuring
provisions and Conditions and Stipulations and the Exclusions from Coverage of the form of policy or
policies committed for in favor of the proposed Insured which are hereby incorporated by reference and
are made a part of this Commitment except as expressly modified herein.
This Commitment is a contract to issue one or more title insurance policies and is not an abstract of title4.
or a report of the condition of title. Any action or actions or rights of action that the proposed Insured may
have or may bring against the Company arising out of the status of the title to the estate or interest or the
status of the mortgage thereon covered by this Commitment must be based on and are subject to the
provisions of this Commitment.
The policy to be issued contains an arbitration clause. All arbitrable matters when the Amount of5.
Insurance is $2,000,000 or less shall be arbitrated at the option of either the Company or the Insured as
the exclusive remedy of the parties. You may review a copy of the arbitration rules at<
http://www.alta.org/>.
(Reverse side of Cover)
Westcor Land Title Insurance Company
Joint Notice of Privacy Policy
of
Westcor Land Title Insurance Company
and
Title Company of the Rockies, LLC
Westcor Land Title Insurance Company (“W LTIC”) and Title Company of the Rockies, LLC value their customers and are
committed to protecting the privacy of personal information. In keeping with that philosophy, we each have developed a Privacy
Policy, set out below, that will endure the continued protection of your nonpublic personal information and inform you about the
measures WLTIC and Title Company of the Rockies, LLC take to safeguard that information. This notice is issued jointly as a
means of paperwork reduction and is not intended to create a joint privacy policy. Each company's privacy policy is separately
instituted, executed, and maintained.
Who is Covered
We provide our Privacy Policy to each customer when they purchase a W LTIC title insurance policy. Generally, this means that the
Privacy Policy is provided to the customer at the closing of the real estate transaction.
Information Collected
In the normal course of business and to provide the necessary services to our customers, we may obtain nonpublic personal
information directly from the customer, from customer-related transactions, or from third parties such as our title insurance agent,
lenders, appraisers, surveyors and other similar entities.
Access to Information
Access to all nonpublic personal information is limited to those employees who have a need to know in order to perform their jobs.
These employees include, but are not limited to, those in departments such as closing, legal, underwriting, claims and
administration and accounting.
Information Sharing
Generally, neither W LTIC nor Title Company of the Rockies, LLC shares nonpublic personal information that it collects with
anyone other than those individuals necessary needed to complete the real estate settlement services and issue its title insurance
policy as requested by the consumer. W LTIC or Title Company of the Rockies, LLC may share nonpublic personal information
as permitted by law with entities with whom WLTIC or Title Company of the Rockies, LLC has a joint marketing agreement.
Entities with whom W LTIC or Title Company of the Rockies, LLC have a joint marketing agreement have agreed to protect the
privacy of our customer's nonpublic personal information by utilizing similar precautions and security measures as W LTIC and Title
Company of the Rockies, LLC use to protect this information and to use the information for lawful purposes. W LTIC or Title
Company of the Rockies, LLC , however, may share information as required by law in response to a subpoena, to a government
regulatory agency or to prevent fraud.
Information Security
W LTIC and Title Company of the Rockies, LLC , at all times, strive to maintain the confidentiality and integrity of the personal
information in its possession and has instituted measures to guard against its unauthorized access. We maintain physical,
electronic and procedural safeguards in compliance with federal standards to protect that information.
The WLTIC Privacy Policy can be found on WLTIC's website at www.wltic.com
COMMITMENT FOR TITLE INSURANCE
Issued by
as agent for
Westcor Land Title Insurance Company
SCHEDULE A
Reference:Commitment Number: 1204972-C
1.Effective Date: November 01, 2021, 7:00 am Issue Date: November 29, 2021
2.Policy (or Policies) to be issued:
ALTA Owner's Policy (6-17-06)Policy Amount: Amount to be Determined
Premium:Amount to be Determined
Proposed Insured:Purchaser with contractual rights under a purchaser agreement with the vested
owner identified at item 4 below
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:
Rising Tides Enterprises, LLC, a Colorado limited liability company
5.The land referred to in this Commitment is described as follows:
FOR LEGAL DESCRIPTION SEE SCHEDULE A CONTINUED ON NEXT PAGE
For Informational Purposes Only - APN: R490494
Countersigned
Title Company of the Rockies, LLC
This page is only a part of a 2016 ALTA ® Commitment for Title Insurance issued by Westcor Land 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; and Schedule B, Part II-Exceptions.
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.
Commitment for Title Insurance (8-1-2016)
Technical Correction 4-2-2018
Schedule B - Part II
Page 1
By:
Mike Mulligan
Commitment No: 1204972-C
SCHEDULE A (continued)
LEGAL DESCRIPTION
The Land referred to herein is located in the County of Garfield, State of Colorado, and described as follows:
Restricted Reserve "C",
MONUMENT CREEK VILLAGE, SECTION TWO, according to the Plat thereof filed October 5, 1981 as
Reception No. 319920.
For each policy to be issued as identified in Schedule A, Item 2, the Company shall not be liable under
this commitment until it receives a specific designation of a Proposed Insured, and has revised this
commitment identifying that Proposed Insured by name. As provided in Commitment Condition 4, the
Company may amend this commitment to add, among other things, additional exceptions or
requirements after the designation of the Proposed Insured.
This page is only a part of a 2016 ALTA® Commitment for Title Insurance issued by Westcor Land 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; and Schedule B, Part II-Exceptions.
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
Commitment for Title Insurance (8-1-2016)
Technical Correction 4-2-2018
Schedule A
Page 3
Commitment No: 1204972-C
COMMITMENT FOR TITLE INSURANCE
Issued by
Westcor Land Title Insurance Company
SCHEDULE B, PART I
Requirements
The following are the requirements to be complied with prior to the issuance of said policy or policies. Any other
instrument recorded subsequent to the effective date hereof may appear as an exception under Schedule B of the
policy to be issued. Unless otherwise noted, all documents must be recorded in the office of the clerk and recorded of
the county in which said property is located.
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.
Evidence satisfactory to the Company or its duly authorized agent that all dues and/or assessments levied by5.
the Homeowners Association have been paid through the date of closing.
NOTE: Please be advised that our search did not disclose any open Deeds of Trust of record. If you
should have knowledge of any outstanding obligation, please contact the Title Department
immediately for further review prior to closing.
Deed from Rising Tides Enterprises, LLC, a Colorado limited liability company to Purchaser with6.
contractual rights under a purchaser agreement with the vested owner identified at item 4 below.
NOTE: Duly executed real property transfer declaration, executed by either the Grantor or Grantee, to
accompany the Deed mentioned above, pursuant to Article 14 of House Bill No. 1288-CRA 39-14-102.
THE COMPANY RESERVES THE RIGHT TO CONDUCT AN ADDITIONAL SEARCH OF THE
RECORDS IN THE OFFICE OF THE CLERK AND RECORDER FOR GARFIELD COUNTY,
COLORADO FOR JUDGMENT LIENS, TAX LIENS OR OTHER SIMILAR OR DISSIMILAR
INVOLUNTARY MATTERS AFFECTING THE GRANTEE OR GRANTEES, AND TO MAKE SUCH
ADDITIONAL REQUIREMENTS AS IT DEEMS NECESSARY, AFTER THE IDENTITY OF THE
This page is only a part of a 2016 ALTA® Commitment for Title Insurance issued by Westcor Land 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; and Schedule B, Part II-Exceptions.
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
Commitment for Title Insurance (8-1-2016)
Technical Correction 4-2-2018
Schedule B - Part I
Page 4
Commitment No: 1204972-C
GRANTEE OR GRANTEES HAS BEEN DISCLOSED TO THE COMPANY.
NOTE: THIS COMMITMENT IS ISSUED UPON THE EXPRESS AGREEMENT AND
UNDERSTANDING THAT THE APPLICABLE PREMIUMS, CHARGES AND FEES SHALL BE PAID
BY THE APPLICANT IF THE APPLICANT AND/OR ITS DESIGNEE OR NOMINEE CLOSES THE
TRANSACTION CONTEMPLATED BY OR OTHERWISE RELIES UPON THE COMMITMENT, ALL
IN ACCORDANCE WITH THE RULES AND SCHEDULES OF RATES ON FILE WITH THE
COLORADO DEPARTMENT OF INSURANCE.
This page is only a part of a 2016 ALTA® Commitment for Title Insurance issued by Westcor Land 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; and Schedule B, Part II-Exceptions.
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
Commitment for Title Insurance (8-1-2016)
Technical Correction 4-2-2018
Schedule B - Part I - continued
Page 5
Commitment No: 1204972-C
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.
Schedule B of the policy or policies to be issued will contain exceptions to the following matters unless the same are
disposed of to the satisfaction of the Company.
Any loss or damage, including attorney fees, by reason of the matters shown below:
Any facts, right, interests, or claims which are not shown by the Public Records but which could be1.
ascertained by an inspection of said Land or by making inquiry of persons in possession thereof.
Easements or claims of easements, not shown by the Public Records.2.
Any encroachment, encumbrance, violation, variation, or adverse circumstance affecting the Title that3.
would be disclosed by an accurate and complete land survey of the Land.
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.
Right of the Proprietor of a Vein or Lode to extract and remove his ore therefrom, should the same be found7.
to penetrate or intersect the premises hereby granted, as reserved in United States Patent recorded
December 11, 1897, in Book 12 at Page 468.
Right of way for ditches or canals constructed by the authority of the United States, as reserved in United8.
States Patent recorded December 11, 1897, in Book 12 at Page 468, and March 21, 1904, in Book 56 at
Page 495.
An undivided 1/2 interest in all oil, gas and other mineral rights, as reserved by The Federal Land Bank of9.
Wichita in the Deed to Clyde M. Morrow and Mary Belle Morrow recorded December 18, 1944, in Book
This page is only a part of a 2016 ALTA® Commitment for Title Insurance issued by Westcor Land 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; and Schedule B, Part II-Exceptions.
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
Commitment for Title Insurance (8-1-2016)
Technical Correction 4-2-2018
Schedule B - Part II
Page 6
Commitment No: 1204972-C
213 at Page 269, and any and all assignments thereof or interests therein.
An undivided 1/2 interest in all oil, gas and other mineral rights, as reserved by Carl Davidson in the Deed10.
to Rea L. Eaton recorded June 12, 1957, in Book 301 at Page 212, and any and all assignments thereof or
interests therein.
Easement and right of way for electric transmission lines purposes, as granted by Rea L. Eaton to Public11.
Service Company of Colorado by instrument recorded October 20, 1960, in Book 330 at Page 554, said
easement being .
An undivided 1/32 interest in all oil, gas and other mineral rights, as reserved by Julia V. Morrow and Ruth12.
V. Keithley in the Deed to John W. Sarage recorded November 10, 1961, in Book 337 at Page 480, and any
and all assignments thereof or interests therein.
All interest in all oil, gas and other mineral rights, as reserved by The Exxon Corporation in the Deed to13.
Battlement Mesa Inc. recorded April 9, 1981, in Book 569 at Page 301, and any and all assignments thereof
or interests therein.
Restrictions, which do not contain a forfeiture or reverter clause, as contained in instrument recorded14.
October 5, 1981 in Book 582 at Page 721.
Restrictions, which do not a forfeiture or reverter clause, as contained in instrument recorded October 15,15.
1981, in Book 583 at Page 456, as amended by instruments recorded April 19, 1982, in Book 597 at Page
423, and August 26, 2003 in Book 1510 at Page 748.
Easements, rights of way and all other matters as shown on the Plat of Monument Creek Village, Section16.
Two, filed October 5, 1981 as Reception No. 319920.
Terms, agreements, provisions, conditions and obligations as contained in Annexation to Battlement Mesa17.
recorded May 3, 1982, in Book 598 at Page 557.
An undivided 40% interest in all oil, gas and other mineral rights, as conveyed by Exxon Corporation to18.
Tosco Corporation by Deed recorded June 22, 1982 in Book 601 at Page 658, and any and all assignments
thereof or interests therein.
Restrictions, which do not contain a forfeiture or reverter clause, but omitting any covenants or restrictions,19.
if any, including, but not limited to those based upon race, color, religion, sex, sexual orientation, familial
status, marital status, disability, handicap, national origin, ancestry, or source of income, as set forth in
applicable state or federal laws, except to the extent that said covenant or restriction is permitted by
applicable law,as contained in instrument recorded August 13, 1991 at Reception No. 426419, as amended
and supplemented by instruments recorded April 27, 1999 at Reception No. 544590, November 11, 2001 at
Reception No. 592295, March 28, 2002 at Reception No. 600070, October 31, 2002 at Reception No.
613708, August 26, 2003 at Reception No. 631973, March 1, 2004 at Reception No. 647410, April 25,
2005 at reception No. 672848, January 13,m 2006 at Reception No. 690448, February 27, 2006 at
Reception No. 692885, August 3, 2009 at Reception No. 772654, October 21, 2011 at Reception No.
This page is only a part of a 2016 ALTA® Commitment for Title Insurance issued by Westcor Land 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; and Schedule B, Part II-Exceptions.
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
Commitment for Title Insurance (8-1-2016)
Technical Correction 4-2-2018
Schedule B - Part II - continued
Page 7
Commitment No: 1204972-C
809699 and October 4, 2019 at Reception No. 926453.
Terms, agreements, provisions, conditions and obligations as contained in Resolution No. 93-041 recorded20.
May 18, 1993 at Reception No. 447570.
Terms, agreements, provisions, conditions and obligations as contained in Surface Use Agreement recorded21.
July 8, 1999 at Reception No. 548481 and amendments recorded August 20, 2010 at Reception No.
790390, June 10, 2015 at Reception No. 863878 and July 25, 2017 at Reception No. 895194, Partial
Assignment recorded May 15, 2017 at Reception No. 892360.
Easement and right of way for broadband communication system purposes, as granted by Comcast of22.
colorado/Florida, Inc. to Battlement Mesa Partners, by instrument recorded March 8, 2005 at Reception No.
669853, said easement being more particularly described therein.
Terms, agreements, provisions, conditions and obligations as contained in Resolution No. 2008-33 recorded23.
March 12, 2008 at Reception No. 744451.
Any and all leases and tenancies and any and all parties claiming by, through, or under such leases or24.
tenancies.
This page is only a part of a 2016 ALTA® Commitment for Title Insurance issued by Westcor Land 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; and Schedule B, Part II-Exceptions.
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
Commitment for Title Insurance (8-1-2016)
Technical Correction 4-2-2018
Schedule B - Part II - continued
Page 8
Commitment No: 1204972-C
DISCLOSURE STATEMENTS
Note 1: Colorado Division of Insurance Regulations 3-5-1, Paragraph C of Article VII, 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.” (Gap Protection)
Note 2: Exception No. 4 of Schedule B, Section 2 of this Commitment may be deleted from the Owner's Policy to be
issued hereunder upon compliance with the following conditions:
The Land described in Schedule A of this commitment must be a single-family residence, which includes a1.
condominium or townhouse unit.
No labor or materials may have been furnished by mechanics or materialmen for purpose of construction on2.
the Land described in Schedule A of this Commitment within the past 13 months.
The Company must receive an appropriate affidavit indemnifying the Company against unfiled mechanic's3.
and materialmen's liens.
Any deviation from conditions A though C above is subject to such additional requirements or Information4.
as the Company may deem necessary, or, at its option, the Company may refuse to delete the exception.
Payment of the premium for said coverage.5.
Note 3: The following disclosures are hereby made pursuant to §10-11-122, C.R.S.:
The subject real property may be located in a special taxing district;(i)
A certificate of taxes due listing each taxing jurisdiction shall be obtained from the County Treasurer or the(ii)
County Treasurer's authorized agent; and
Information regarding special districts and the boundaries of such districts may be obtained from the(iii)
County Commissioners, the County Clerk and Recorder, or the County Assessor.
Note 4: If the sales price of the subject property exceeds $100,000.00, the seller shall be required to comply with the
disclosure or withholding provisions of C.R.S. §39-22-604.5 (Non-resident withholding).
Note 5: Pursuant to C.R.S. §10-11-123 Notice is hereby given:
(a)If there is recorded evidence that a mineral estate has been severed, leased or otherwise conveyed from the
surface estate then 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 6: Effective September 1, 1997, C.R.S. §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 inch the clerk and recorder may refuse to record or file any document that does not conform.
Note 7: Our Privacy Policy:
We will not reveal nonpublic personal customer information to any external non-affiliated organization unless we
have been authorized by the customer, or are required by law.
Note 8: Records:
Regulation 3-5-1 Section 7 (N) provides that each title entity shall maintain adequate documentation and records
sufficient to show compliance with this regulation and Title 10 of the Colorado Revised Statutes for a period of not
less than seven (7) years, except as otherwise permitted by law.
Note 9: Pursuant Regulation 3-5-1 Section 9 (F) notice is hereby given that “A title entity shall not earn interest on
fiduciary funds unless disclosure is made to all necessary parties to a transaction that interest is or has been earned.
Said disclosure must offer the opportunity to receive payment of any interest earned on such funds beyond any
administrative fees as may be on file with the division. Said disclosure must be clear and conspicuous, and may be
made at any time up to and including closing.”
Be advised that the closing agent will or could charge an Administrative Fee for processing such an additional
Page 9
services request and any resulting payee will also be subjected to a W-9 or other required tax documentation for such
purpose(s).
Be further advised that, for many transactions, the imposed Administrative Fee associated with such an additional
service may exceed any such interest earned.
Therefore, you may have the right to some of the interest earned over and above the Administrative Fee, if applicable
(e.g., any money over any administrative fees involved in figuring the amounts earned).
Note 10: Pursuant to Regulation 3-5-1 Section 9 (G) notice is hereby given that “Until a title entity receives written
instructions pertaining to the holding of fiduciary funds, in a form agreeable to the title entity, it shall comply with
the following:
The title entity shall deposit funds into an escrow, trust, or other fiduciary account and hold them in a1.
fiduciary capacity.
The title entity shall use any funds designated as “earnest money” for the consummation of the transaction2.
as evidenced by the contract to buy and sell real estate applicable to said transaction, except as otherwise
provided in this section. If the transaction does not close, the title entity shall:
Release the earnest money funds as directed by written instructions signed by both the buyer and seller;(a)
or
If acceptable written instructions are not received, uncontested funds shall be held by the title entity for(b)
180 days from the scheduled date of closing, after which the title entity shall return said funds to the
payor.
In the event of any controversy regarding the funds held by the title entity (notwithstanding any termination3.
of the contract), the title entity shall not be required to take any action unless and until such controversy is
resolved. At its option and discretion, the title entity may:
Await any proceeding; or(a)
Interplead all parties and deposit such funds into a court of competent jurisdiction, and recover court(b)
costs and reasonable attorney and legal fees; or
Deliver written notice to the buyer and seller that unless the title entity receives a copy of a summons(c)
and complaint or claim (between buyer and seller), containing the case number of the lawsuit or
lawsuits, within 120 days of the title entity's written notice delivered to the parties, title entity shall
return the funds to the depositing party.”
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Commitment No: 1204972-C
Title Company of the Rockies
Disclosures
All documents received for recording or filing in the Clerk and Recorder's office shall contain a top margin of atleast one inch and a left, right and bottom margin of at least one half of an inch. The Clerk and Recorder will refuseto record or file any document that does not conform to the requirements of this section. Pursuant to C.R.S.30-10-406(3)(a).
The company will not issue its policy or policies of title insurance contemplated by this commitment until it has beenprovided a Certificate of Taxes due or other equivalent documentation from the County Treasurer or the CountyTreasurer's authorized agent: or until the Proposed Insured has notified or instructed the company in writing to thecontrary. Pursuant to C.R.S. 10-11-122.
No person or entity that provides closing and settlement services for a real estate transaction shall disburse funds as apart of such services until those funds have been received and are available for immediate withdrawals as a matter ofright. Pursuant to C.R.S. 38-35-125(2).
The Company hereby notifies the proposed buyer in the current transaction that there may be recorded evidence that
the mineral estate, or portion thereof, has been severed, leased, or otherwise conveyed from the surface estate. If so,
there is a substantial likelihood that a third party holds some or all interest in the oil, gas, other minerals, or
geothermal energy in the subject property. Such mineral estate may include the right to enter and use the property
without the surface owner's permission. Pursuant to C.R.S. 10-11-123.
If this transaction includes a sale of property and the sales price exceeds $100,000.00, the seller must comply withthe disclosure/withholding requirements of said section. (Nonresident withholding) Pursuant to C.R.S. 39-22-604.5.
Notice is hereby given that: The subject property may be located in a special taxing district. A Certificate of Taxesdue listing each taxing jurisdiction shall be obtained from the County Treasurer or the County Treasurer's authorizedagent. Information regarding special districts and the boundaries of such districts may be obtained from the Board ofCounty Commissioners, the County Clerk and Recorder, or the County Assessor. Pursuant to C.R.S. 10-11-122.
Notice is hereby given that: Pursuant to Colorado Division of Insurance Regulation 8-1-2;
"Gap Protection" -When this Company conducts the closing and is responsible for recording or filing the legaldocuments resulting from the transaction, the Company shall be responsible for all matters which appear on therecord prior to such time or recording or filing; and
"Mechanic's Lien Protection" - If you are the buyer of a single family residence, you may request mechanic'slien coverage to be issued on your policy of Insurance. If the property being purchased has not been the subjectof construction, improvements or repairs in the last six months prior to the date of this commitment, therequirements will be payment of the appropriate premium and the completion of an Affidavit and Indemnity bythe seller. If the property being purchased was constructed, improved or repaired within six months prior to thedate of this commitment the requirements may involve disclosure of certain financial information, payment of
premiums, and indemnity, among others. The general requirements stated above are subject to revision and
approval by the Company. Pursuant to C.R.S. 10-11-122.
Notice is hereby given that an ALTA Closing Protection Letter is available, upon request, to certain parties to the
transaction as noted in the title commitment. Pursuant to Colorado Division of Insurance Regulation 8-1.
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.
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