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HomeMy WebLinkAbout3.0 Conditions of Approval711 E. Valley Rd, Unit 201B Basalt, CO 81621 Phone: 970-366-4111 Fax: 970-672-1576 www.titlecorockies.com COMMITMENT TRANSMITTAL Commitment Ordered By: Eva Alexandra C. Dag Phone: 970-306-8861 Fax: Inquiries should be directed to: Authorized Officer or Agent Title Company of the Rockies 711 E. Valley Rd, Unit 201B Basalt, CO 81621 Phone: 970-366-4111 Fax: 970-672-1576 Commitment Number:7001195-C2 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):Stefan A. Dag and Eva Alexandra C. Anwyl-Davies Property:848 106 County Rd, Carbondale, CO 81623 Section: 28 Township: 7 Range: 88 A TR IN LOT 21 , County of Garfield, State of Colorado. 211 106 Hwy, Carbondale, CO 81623 Section: 28 Township: 7 Range: 88 , County of Garfield, State of Colorado. COPIES / MAILING LIST Purchaser with contractual rights under a purchaser agreement with the vested owner identified at item 4 below Stefan A. Dag 0484 County Road 106 Cabondale, CO 81623 Eva Alexandra C. Anwyl-Davies COLORADO NOTARIES MAY REMOTELY NOTARIZE REAL ESTATE DEEDS AND OTHER DOCUMENTS USING REAL-TIME AUDIO-VIDEO COMMUNICATION TECHNOLOGY. YOU MAY CHOOSE NOT TO USE REMOTE NOTARIZATION FOR ANY DOCUMENT. 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). Page 1 of 1 May 23, 2022 12:53 PM 711 E. Valley Rd, Unit 201B Basalt, CO 81621 Phone: 970-366-4111 Fax: 970-672-1576 www.titlecorockies.com Commitment Ordered By: Eva Alexandra C. Dag Phone: 970-306-8861 Fax: Inquiries should be directed to: Authorized Officer or Agent Title Company of the Rockies 711 E. Valley Rd, Unit 201B Basalt, CO 81621 Phone: 970-366-4111 Fax: 970-672-1576 Commitment Number:7001195-C2 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):Stefan A. Dag and Eva Alexandra C. Anwyl-Davies Property:848 106 County Rd, Carbondale, CO 81623 Section: 28 Township: 7 Range: 88 A TR IN LOT 21 , County of Garfield, State of Colorado. 211 106 Hwy, Carbondale, CO 81623 Section: 28 Township: 7 Range: 88 , County of Garfield, State of 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: $300.00 $300.00 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). ALTA COMMITMENT FOR TITLE INSURANCE (07-01-2021) ISSUED BY STEWART TITLE GUARANTY 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, STEWART TITLE GUARANTY COMPANY, a Texas 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 Amount of Insurance 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. Countersigned by: Company Name Basalt, CO City, State Authorized Countersignature Title Company of the Rockies, LLC COMMITMENT CONDITIONS DEFINITIONS1. a.“Discriminatory Covenant”: Any covenant, condition, restriction, or limitation that is unenforceable under applicable law because it illegally discriminates against a class of individuals based on personal characteristics such as race, color, religion, sex, sexual orientation, gender identity, familial status, disability, national origin, or other legally protected class. b.“Knowledge” or “Known”: Actual knowledge or actual notice, but not constructive notice imparted by the Public Records. c.“Land”: The land described in Item 5 of Schedule A and improvements located on that land that by State law constitute real property. The term “Land” does not include any property beyond that described in Schedule A, nor any right, title, interest, estate, or easement in any abutting street, road, avenue, alley, lane, right-of-way, body of water, or waterway, but does not modify or limit the extent that a right of access to and from the Land is to be insured by the Policy. d.“Mortgage”: A mortgage, deed of trust, trust deed, security deed, or other real property security instrument, including one evidenced by electronic means authorized by law. e.“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. f.“Proposed Amount of Insurance ”: Each dollar amount specified in Schedule A as the Proposed Amount of Insurance of each Policy to be issued pursuant to this Commitment. g.“Proposed Insured”: Each person identified in Schedule A as the Proposed Insured of each Policy to be issued pursuant to this Commitment. h.“Public Records ”: The recording or filing system established under State statutes in effect at the Commitment Date under which a document must be recorded or filed to impart constructive notice of matters relating to the Title to a purchaser for value without Knowledge. The term “Public Records ” does not include any other recording or filing system, including any pertaining to environmental remediation or protection, planning, permitting, zoning, licensing, building, health, public safety, or national security matters. i.“State”: The state or commonwealth of the United States within whose exterior boundaries the Land is located. The term “State” also includes the District of Columbia, the Commonwealth of Puerto Rico, the U.S. Virgin Islands, and Guam. j.“Title”: The estate or interest in the Land identified in Item 3 of Schedule A. If all of the Schedule B, Part I - Requirements have not been met within the time period specified in2. the Commitment to Issue Policy, this Commitment terminates and the Company’s liability and obligation end. The Company’s liability and obligation is limited by and this Commitment is not valid without:3. the Notice;a. the Commitment to Issue Policy;b. the Commitment Conditions;c. Schedule A;d. Schedule B, Part I - Requirements;e. This page is only a part of a 2021 ALTA Short Form Commitment for Title Insurance issued by Stewart Title Guaranty Company. This Commitment is not valid without the Notice; the Commitment to Issue Policy; 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 2021 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. Schedule B, Part II - Exceptions; andf. a countersignature by the Company or its issuing agent that may be in electronic form.g. COMPANY’S RIGHT TO AMEND4. 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 is not liable for any other amendment to this Commitment. LIMITATIONS OF LIABILITY5. The Company ’s liability under Commitment Condition 4 is limited to the Proposed Insured ’sa. 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: comply with the Schedule B, Part I - Requirements;i. eliminate, with the Company’s written consent, any Schedule B, Part II - Exceptions; orii. acquire the Title or create the Mortgage covered by this Commitment.iii. The Company is not liable under Commitment Condition 5.a. if the Proposed Insured requestedb. the amendment or had Knowledge of the matter and did not notify the Company about it in writing. The Company is only liable under Commitment Condition 4 if the Proposed Insured would notc. have incurred the expense had the Commitment included the added matter when the Commitment was first delivered to the Proposed Insured. The Company ’s liability does not exceed the lesser of the Proposed Insured ’s actual expensed. incurred in good faith and described in Commitment Condition 5.a. or the Proposed Amount of Insurance. The Company is not liable for the content of the Transaction Identification Data, if any.e. f.The Company is not 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.The Company’s liability is further limited by the terms and provisions of the Policy to be issued to the Proposed Insured. LIABILITY OF THE COMPANY MUST BE BASED ON THIS COMMITMENT; CHOICE6. OF LAW AND CHOICE OF FORUM 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 under the State law of the State where the Land is located and is restricted to the terms and provisions of this Commitment. Any litigation or other proceeding brought by the Proposed Insured against the Company must be filed only in a State or federal court having jurisdiction. c.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 This page is only a part of a 2021 ALTA Short Form Commitment for Title Insurance issued by Stewart Title Guaranty Company. This Commitment is not valid without the Notice; the Commitment to Issue Policy; 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 2021 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. 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. IF THIS COMMITMENT IS ISSUED BY AN ISSUING AGENT7. 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 closing, settlement, escrow, or any other purpose. PRO-FORMA POLICY8. 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.CLAIMS PROCEDURES This Commitment incorporates by reference all Conditions for making a claim in the Policy to be issued to the Proposed Insured. Commitment Condition 9 does not modify the limitations of liability in Commitment Conditions 5 and 6. 10.CLASS ACTION ALL CLAIMS AND DISPUTES ARISING OUT OF OR RELATING TO THIS COMMITMENT, INCLUDING ANY SERVICE OR OTHER MATTER IN CONNECTION WITH ISSUING THIS COMMITMENT, ANY BREACH OF A COMMITMENT PROVISION, OR ANY OTHER CLAIM OR DISPUTE ARISING OUT OF OR RELATING TO THE TRANSACTION GIVING RISE TO THIS COMMITMENT, MUST BE BROUGHT IN AN INDIVIDUAL CAPACITY. NO PARTY MAY SERVE AS PLAINTIFF, CLASS MEMBER, OR PARTICIPANT IN ANY CLASS OR REPRESENTATIVE PROCEEDING. ANY POLICY ISSUED PURSUANT TO THIS COMMITMENT WILL CONTAIN A CLASS ACTION CONDITION. ARBITRATION11. The Policy contains an arbitration clause. All arbitrable matters when the Proposed Amount of Insurance is $2,000,000 or less may be arbitrated at the election 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 . STEWART TITLE GUARANTY COMPANY This page is only a part of a 2021 ALTA Short Form Commitment for Title Insurance issued by Stewart Title Guaranty Company. This Commitment is not valid without the Notice; the Commitment to Issue Policy; 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 2021 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. All notices required to be given the Company and any statement in writing required to be furnished the Company shall be addressed to it at: Stewart Title Guaranty Company, P.O. Box 2029, Houston, Texas 77252-2029. This page is only a part of a 2021 ALTA Short Form Commitment for Title Insurance issued by Stewart Title Guaranty Company. This Commitment is not valid without the Notice; the Commitment to Issue Policy; 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 2021 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. American Land Title Association Commitment for Title Insurance 2021 v.01.00 (07-01-2021) COMMITMENT FOR TITLE INSURANCE Issued by as agent for Stewart Title Guaranty Company SCHEDULE A Reference:Commitment Number: 7001195-C2 1.Effective Date: April 22, 2022, 7:00 am Issue Date: May 20, 2022 2.Policy (or Policies) to be issued: ALTA® 2021 Owner's Policy 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 at the Commitment Date is Fee Simple. 4.The Title is, at the Commitment Date, vested in: Stefan A. Dag and Eva Alexandra C. Anwyl-Davies 5.The Land is described as follows: FOR LEGAL DESCRIPTION SEE SCHEDULE A CONTINUED ON NEXT PAGE For Informational Purposes Only - APN: 239328400014 / R011035 et. al Countersigned Title Company of the Rockies, LLC By: Staci Stamps American Land Title Association Commitment for Title Insurance 2021 v.01.00 (07-01-2021) Commitment No: 7001195-C2 SCHEDULE A (continued) LEGAL DESCRIPTION The Land referred to herein is located in the County of Garfield, State of Colorado, and described as follows: Historically known as: A parcel of land situated in Lot 21 NW1/4SE1/4 of Section 28, Township 7 South, Range 88 West of the 6th P.M., said Parcel being more particularly described as follows: Commencing at a brass cap found in place and properly marked for the East Quarter Corner of said Section 28; thence S. 69 degrees 59' 55" W. 2864.56 feet to the Point of Beginning; thence along the North-South centerline of said Section 28, N. 01 degrees 20' 27" E. 256.85 feet to the Southern right-of-way of the Denver and Rio Grande Western Railroad; thence along said Southern right-of-way along a curve to the right, having a radius of 1332.69 feet and delta angle of 11 ° 13' 47" (chord bearing S. 55° 17' 18" E., 260.78 feet), a distance of 261.20 feet; thence along said southern right-of-way along a curve to the right, having a radius of 473.69 and delta angle of 17 ° 54' 37" (chord bearing S. 40° 43' 05" E., 147.47 feet), a distance of 149.01 feet to the common North line of the Townsite of Cooperton and South line of said Lot 21; thence along said line N. 89 ° 22' 00" W. 316.60 feet to the Point of Beginning. According to the Legal Description upon Recordation of Amended Final Plat of Lot Located WithinCooperton Townsite recorded __ at Reception No. __ in the Clerk and Recorder of Garfield County: A tract of land situated in the Townsite of Cooperton and also within Government Lots 19 and 21 in the NW1/4 SE1/4 of Section 28, Township 7 South, Range 88 West of the 6th P.M., County of Garfield, State of Colorado and being more particularly described by metes and bounds as follows: (Bearings as recited in this description are based upon the North-South centerline of said Section 28 as bearing S 01°04'23"W. Monumentation found in the field at the Center 1/4 corner is a standard monument and aluminum cap, L.S. 14060 and the South 1/4 corner is a standard monument and aluminum cap PLS 27613) Beginning at a point on the North-South centerline of Section 28, point also being the Northwest corner This page is only a part of a 2021 ALTA Short Form Commitment for Title Insurance issued by Stewart Title Guaranty Company. This Commitment is not valid without the Notice; the Commitment to Issue Policy; 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 2021 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. American Land Title Association Commitment for Title Insurance 2021 v.01.00 (07-01-2021) Commitment No: 7001195-C2 of Government Lot 19, whence the East 1/4 corner of said Section 28 bears N 69 °45'53" E a distance of 2862.14 feet, said East 1/4 corner being a 3.25" Alum. Cap, U.S. Dept. of Interior/BLM 1973; thence N 01°04'23" E a distance of 256.85 feet along said North-South centerline of Section 28 to a point on the southerly right-of-way line of the Denver and Rio Grande Western Railroad; whence the Center 1/4 Corner bears N01 °04'23"E a distance of 1017.84 feet; thence along said southerly right-of-way the following four courses: 1) 260.24 feet along the arc of a curve to the right, having a radius of 1332.69 feet, a central angle of 11°11'19", and the chord bears S 55 °29'54" E a distance of 259.83 feet; 2) 149.05 feet along the arc of a tangent curve to the right, having a radius of 473.67 feet, a central angle of 18°01'45", and the chord bears S 40 °53'22" E a distance of 148.43 feet; 3) 74.01 feet along the arc of a tangent curve to the right, having a radius of 473.67 feet, a central angle of 8°57'08", and the chord bears S 27 °23'56" E a distance of 73.93 feet; 4) S 22°55'22" E a distance of 186.72 feet to a point; thence departing from said right-of-way along the centerline of the Roaring Fork River the following two courses: 1) N 68°01'07" W a distance of 311.51 feet; 2) N 47°18'39" W a distance of 182.29 feet to the point of beginning; whence the South 1/4 corner bears S01°04'23"W a distance of 1713.13 feet; containing 2.19 acres more or less. 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 2021 ALTA Short Form Commitment for Title Insurance issued by Stewart Title Guaranty Company. This Commitment is not valid without the Notice; the Commitment to Issue Policy; 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 2021 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. American Land Title Association Commitment for Title Insurance 2021 v.01.00 (07-01-2021) Commitment No: 7001195-C2 COMMITMENT FOR TITLE INSURANCE Issued by Stewart Title Guaranty Company SCHEDULE B, PART I Requirements All of the following Requirements must be met: 1.The Proposed Insured must notify the Company in writing of the name of any party not referred to in this Commitment who will obtain an interest in the Land or who will make a loan on the Land. The Company may then make additional Requirements or Exceptions. 2.Pay the agreed amount for the estate or interest to be insured. 3.Pay the premiums, fees, and charges for the Policy to the Company. 4.Documents satisfactory to the Company that convey the Title or create the Mortgage to be insured, or both, must be properly authorized, executed, delivered, and recorded in the Public Records. Recordation of a properly executed plat or recorded exemption of the land described herein with5. the approval of the proper governing authorities noted thereon. NOTE: Upon compliance with the above requirement, the description at Item No. 5 of Schedule A will be amended. NOTE: Upon compliance with the above requirement, the description at Item No. 5 of Schedule A (and in the policy to be issued) will be amended in accordance with the description on the plat. NOTE: This commitment, and the policy to be issued are subject to such further requirements and/or exceptions as may be necessary upon review of the plat by the Company, its agents or subsidiaries. This page is only a part of a 2021 ALTA Short Form Commitment for Title Insurance issued by Stewart Title Guaranty Company. This Commitment is not valid without the Notice; the Commitment to Issue Policy; 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 2021 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. American Land Title Association Commitment for Title Insurance 2021 v.01.00 (07-01-2021) Commitment No: 7001195-C2 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 Stefan A. Dag and Eva Alexandra C. Anwyl-Davies to Purchaser with contractual6. 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 Owner's Policy, when issued, will not contain Exceptions No. 1, 2, 3 and 4, provided that: (A) The enclosed form of indemnity agreement or final affidavit and agreement is properly executed and acknowledged by the party(ies) indicated and returned to the Company or its duly authorized agent, (B) The Company or its duly authorized agent receives and approves a Land Survey Plat or Improvement Survey Plat properly certified by a registered surveyor or engineer, and (C) Applicable scheduled charges in the amount of $TBD are paid to the Company or its duly authorized agent. NOTE: EXCEPTION NO. 5 UNDER SCHEDULE B, SECTION 2 OF THIS COMMITMENT WILL NOT APPEAR IN THE POLICY OR POLICIES TO BE ISSUED PURSUANT HERETO, PROVIDED THAT (A) THE DOCUMENTS CONTEMPLATED BY THE REQUIREMENTS SET FORTH IN SCHEDULE B, SECTION 1 OF THIS COMMITMENT ARE SUBMITTED TO AND APPROVED AND RECORDED BY THE COMPANY OR ITS DULY AUTHORIZED AGENT, AND (B) AN EXAMINATION OF THE RECORDS IN THE OFFICE OF THE CLERK AND RECORDER FOR GARFIELD COUNTY, COLORADO BY THE COMPANY OR ITS DULY AUTHORIZED AGENT DISCLOSES THAT NO DEFECTS, LIENS, ENCUMBRANCES, ADVERSE CLAIMS OR OTHER MATTERS HAVE BEEN RECORDED IN SUCH RECORDS SUBSEQUENT TO THE EFFECTIVE DATE HEREOF. 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 GRANTEE OR GRANTEES HAS BEEN DISCLOSED TO THE COMPANY. This page is only a part of a 2021 ALTA Short Form Commitment for Title Insurance issued by Stewart Title Guaranty Company. This Commitment is not valid without the Notice; the Commitment to Issue Policy; 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 2021 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. American Land Title Association Commitment for Title Insurance 2021 v.01.00 (07-01-2021) Commitment No: 7001195-C2 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 2021 ALTA Short Form Commitment for Title Insurance issued by Stewart Title Guaranty Company. This Commitment is not valid without the Notice; the Commitment to Issue Policy; 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 2021 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. American Land Title Association Commitment for Title Insurance 2021 v.01.00 (07-01-2021) Commitment No: 7001195-C2 SCHEDULE B, PART II Exceptions Some historical land records contain Discriminatory Covenants that are illegal and unenforceable by law. This Commitment and the Policy treat any Discriminatory Covenant in a document referenced in Schedule B as if each Discriminatory Covenant is redacted, repudiated, removed, and not republished or recirculated. Only the remaining provisions of the document will be excepted from coverage. The Policy will not insure against loss or damage resulting from the terms and conditions of any lease or easement identified in Schedule A, and will include the following Exceptions unless cleared to the satisfaction of the Company: Any facts, right, interests, or claims which are not shown by the Public Records but which could1. be 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 the3. Title that 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 the7. same be found to penetrate or intersect the premises, as reserved in United States Patent recorded June 11, 1927 in Book 112 at Page 597 at Reception No. 98689. Terms, conditions, provisions, restrictions and obligations contained in Deed recorded November8. This page is only a part of a 2021 ALTA Short Form Commitment for Title Insurance issued by Stewart Title Guaranty Company. This Commitment is not valid without the Notice; the Commitment to Issue Policy; 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 2021 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. American Land Title Association Commitment for Title Insurance 2021 v.01.00 (07-01-2021) Commitment No: 7001195-C2 12, 1987 in Book 724 at Page 362 at Reception No. 387409. Terms, conditions, provisions and obligations contained in the Holy Cross Electric Association,9. Inc. Right-of-Way Easement recorded September 7, 1988 at Reception No. 398857. Terms, conditions, provisions and obligations contained in the Contract for Electric Service10. recorded at Reception No. 411910. Terms, conditions, provisions and obligations contained in the Non-Exlcusive Private Way11. License recorded June 28, 1991 in Book 807 at Page 370 at Reception No. 424892. Terms, conditions, provisions and obligations contained in the Deed of Fishing Easement12. recorded August 2, 1994 at Reception No. 426658. Terms, conditions, provisions and obligations contained in the Utility and Access Agreement13. recorded March 20, 1995 at Reception No. 475680. Terms, conditions, provisions and obligations contained in the Memorandum of Water Allotment14. Contract recorded Water Allotment Contract recorded March 7, 2018 at Reception No. 903986. Covenants, conditions, restrictions, notes; easements, reservations and rights of ways as shown15. on the Amended Final Plat of Lot Located Within Cooperton Townsite recorded ___ at Reception No. ___. Any question, dispute or adverse claims to any loss or gain of land as a result of any change in16. the riverbed location by other than natural causes, or alteration through accretion, reliction, erosion or evulsion of the center thread, bank, channel or flow of the waters in the Roaring Fork River River lying within the subject land; and any question as to the location of such center thread, bank, bed or channel as a legal description monument or marker for the purposes of describing or locating subject lands. NOTE: There are no documents in the land records in the office of the Clerk and Recorder for Garfield County, Colorado accurately locating past or present locations of the center thread, bank, bed or channel of the above river or indicating any alterations of the same as from time to time may have occurred. Any rights, interests or easements in favor of the State of Colorado, the United States of America,17. or the general public, which exist or are claimed to exist in, over, under and/or across the waters and present and past bed and banks of the Roaring Fork River River. This page is only a part of a 2021 ALTA Short Form Commitment for Title Insurance issued by Stewart Title Guaranty Company. This Commitment is not valid without the Notice; the Commitment to Issue Policy; 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 2021 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. American Land Title Association Commitment for Title Insurance 2021 v.01.00 (07-01-2021) Commitment No: 7001195-C2 This page is only a part of a 2021 ALTA Short Form Commitment for Title Insurance issued by Stewart Title Guaranty Company. This Commitment is not valid without the Notice; the Commitment to Issue Policy; 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 2021 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. Commitment No: 7001195-C2 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, which1. includes a condominium or townhouse unit. No labor or materials may have been furnished by mechanics or materialmen for purpose of2. construction on 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 unfiled3. mechanic's and materialmen's liens. Any deviation from conditions A though C above is subject to such additional requirements or4. Information 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(ii) Treasurer or the County Treasurer's authorized agent; and Information regarding special districts and the boundaries of such districts may be obtained from(iii) the 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 Page 10 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 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 them1. in a fiduciary capacity. The title entity shall use any funds designated as “earnest money ” for the consummation of the2. transaction 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(a) and seller; or If acceptable written instructions are not received, uncontested funds shall be held by the title(b) entity for 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 any3. termination 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(b) recover court 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(c) summons 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.” Note 11: Pursuant to Colorado Division of Insurance Regulation 8-1-3,Section 5, Paragraph C (11)(f), a closing protection letter is available to the consumer. Page 11 Commitment No: 7001195-C2 Page 12 C:\General CADD 8\Gxd\DAG.gxd -- 03/29/2021 -- 09:0 4 AM -- Scale 1 : 1200.000