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HomeMy WebLinkAbout1.02 Title Commitment This page is only a part of a 2016 ALTA® Commitment for Title Insurance issued by First American Title Insurance Company. Thi s Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Pa rt I-Requirements; 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. Form 50004008 (8-23-18) Page 1 of 33 ALTA Commitment for Title Insurance (8-1-16) Colorado Commitment ALTA Commitment for Title Insurance ISSUED BY First American Title Insurance Company File No: NCS-1133415-SLC1 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 Nebraska 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, t his Commitment terminates and the Company's liability and obligation end. If this jacket was created electronically, it constitutes an original document. This page is only a part of a 2016 ALTA® Commitment for Title Insurance issued by First American Title Insurance Company. Thi s Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I -Requirements; Schedule B, Part II-Exceptions. Copyright 2006-2016 American Land Title Association. All rights reserved. The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association. Form 50004008 (8-23-18) Page 2 of 33 ALTA Commitment for Title Insurance (8-1-16) Colorado 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; and (f) Schedule B, Part II—Exceptions. 4. COMPANY’S RIGHT TO AMEND The Company may amend this Commitment at any time. If the Company amends this Commitment to add a defect, lien, encumbrance, adverse claim, or other matter recorded in the Public Records prior to the Commitment Date, any liability of the Company is limited by Commitment Condition 5. The Company shall not be liable for any other amendment to this Commitment. 5. LIMITATIONS OF LIABILITY (a) The Company’s liability under Commitment Condition 4 is limited to the Proposed Insured’s actual expense incurred in the interval between the Company’s delivery to the Proposed Insured of the Commitment and the delivery of the amended Commitment, resulting from the Proposed Insured’s good faith reliance to: (i) comply with the Schedule B, Part I—Requirements; (ii) eliminate, with the Company’s written consent, any Schedule B, Part II—Exceptions; or (iii) acquire the Title or create the Mortgage covered by this Commitment. (b) The Company shall not be liable under Commitment Condition 5(a) if the Proposed Insured requested the amendment or had Knowledge of the matter and did not notify the Company about it in writing. (c) The Company will only have liability under Commitment Condition 4 if the Proposed Insured would not have incurred the expense had the Commitment included the added matter when the Commitment was first delivered to the Proposed Insured. (d) The Company’s liability shall not exceed the lesser of the Proposed Insured’s actual expense incurred in good faith and described in Commitment Conditions 5(a)(i) through 5(a)(iii) or the Proposed Policy Amount. (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. This page is only a part of a 2016 ALTA® Commitment for Title Insurance issued by First American Title Insurance Company. Thi s Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I -Requirements; Schedule B, Part II-Exceptions. Copyright 2006-2016 American Land Title Association. All rights reserved. The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association. Form 50004008 (8-23-18) Page 3 of 33 ALTA Commitment for Title Insurance (8-1-16) Colorado 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. Thi s Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I -Requirements; Schedule B, Part II-Exceptions. Copyright 2006-2016 American Land Title Association. All rights reserved. The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association. Form 50004008 (8-23-18) Page 4 of 33 ALTA Commitment for Title Insurance (8-1-16) Colorado Schedule A ALTA Commitment for Title Insurance ISSUED BY First American Title Insurance Company File No: NCS-1133415-SLC1 Transaction Identification Data for reference only: Issuing Agent: First American Title Insurance Company National Commercial Services Issuing Office: 215 South State Street, Ste. 380, Salt Lake City, UT 84111 Commitment No.: NCS-1133415-SLC1 Issuing Office File No.: NCS-1133415-SLC1 Property Address: 5000 Country Road 115, Glenwood Springs, CO 81601 Escrow Officer: Alisha White Revision No.: Escrow Officer Number: (801)578-8838 Escrow Officer Email: AWhite@firstam.com Escrow Assistant: Debi Harris Escrow Assistant Number: (801)578-8873 Escrow Assistant Email: DeHarris@firstam.com Underwriter: Kirk Ehlers Underwriter Number: (435)669-5497 Underwriter Email: kehlers@firstam.com SCHEDULE A 1. Commitment Date: June 17, 2022 at 5:00 PM 2. Policy or Policies to be issued: (a) ☒ ALTA® Owner's Policy (6-17-06) Proposed Insured: Storied Development LLC, a Delaware limited liability company Proposed Policy Amount: $70,000,000.00 (b) ☐ ALTA® Loan Policy (6-17-06) Proposed Insured: Proposed Policy Amount: $ 3. The estate or interest in the Land described or referred to in this Commitment is Fee Simple, as to Parcels 1 through 3, Easement, as to Parcel 4. 4. The Title is, at the Commitment Date, vested in: Spring Valley Holdings, LLC, a Delaware limited liability company 5. The Land is described as follows: See Exhibit "A" attached hereto and made a part hereof This page is only a part of a 2016 ALTA® Commitment for Title Insurance issued by First American Title Insurance Company. Thi s Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I -Requirements; Schedule B, Part II-Exceptions. Copyright 2006-2016 American Land Title Association. All rights reserved. The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association. Form 50004008 (8-23-18) Page 5 of 33 ALTA Commitment for Title Insurance (8-1-16) Colorado Exhibit A ALTA Commitment for Title Insurance ISSUED BY First American Title Insurance Company File No: NCS-1133415-SLC1 Commitment No.: NCS-1133415-SLC1 The Land referred to herein below is situated in the County of Garfield, State of Colorado, and is described as follows: PARCEL 1: A PARCEL OF LAND LOCATED IN SECTION 14, 15, 16, 20, 21, 22, 27, 28, 29, 32, 33, AND 34, TOWNSHIP 6 SOUTH, RANGE 88 WEST, SIXTH PRINCIPAL MERIDIAN BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: BEGINNING AT THE NORTHWEST CORNER OF SAID SECTION 20 BEING A STONE MONUMENT FOUND IN PLACE AND RE-MONUMENTED WITH A 2-INCH ALUMINUM CAP (P.E.L.S. 5933); THENCE S 88°16'08" E 2627.19 FEET ALONG THE NORTH LINE OF SAID SECTION 20 TO THE NORTH QUARTER CORNER OF SAID SECTION 20 BEING A 1-1/2 INCH ALUMINUM CAP (L.S. 16835) FOUND IN PLACE AND RE-MONUMENTED WITH A 2-INCH ALUMINUM CAP (P.E.L.S. 5933), THENCE S 68°15'46" E 2625.91 FEET ALONG THE NORTH LINE OF SAID SECTION 20 TO THE NORTHEAST CORNER OP SAID SECTION 20 BEING A 2-1/2 INCH GLO BRASS CAP FOUND IN PLACE SAID CORNER ALSO BEING ON THE WEST LINE OF SAID SECTION 16; THENCE N 00°00'14" W 2631.77 FEET ALONG THE WEST LINE OF SAID SECTION 16 TO THE EAST QUARTER CORNER OF SECTION 17, T. 6 S., R. 66 W., 6TH P.M. BEING A 2-1/2 INCH GLO BRASS CAP FOUND IN PLACE; THENCE N 00°08'04" W 340.70 FEET CONTINUING ALONG THE WEST LINE OP SAID SECTION 16 TO THE WEST QUARTER CORNER OF SAID SECTION 16 BEING A 2-1/2 INCH GLO BRASS CAP FOUND IN PLACE; THENCE N 00°01'47" E. 1047.99 FEET CONTINUING ALONG TEE WEST LINE OF SAID SECTION 16 TO THE SOUTHWEST CORNER OF A PARCEL OF LAND DESCRIBED IN BOOK 448 AT PAGE 284 IN TEE OFFICE OF THE GARFIELD COUNTY CLERK AND RECORDER; THENCE THE FOLLOWING THREE COURSES ALONG DESCRIBED PARCEL DESCRIBED IN BOOK 448 AT PAGE 284: 1. THENCE N 89°16'47" E 334.10 FEET; 2. THENCE N 03°35'47" E 252.06 FEET; 3. THENCE N 00°27'52" W 349.87 FEET TO A POINT ON THE WEST LINE OF SAID SECTION 16; THENCE N 00°01'47" E 977.15 FEET ALONG THE WEST LINE OF SAID SECTION 16 TO THE NORTHEAST CORNER OF SAID SECTION 17 BEING A 2-1/2 INCH GLO BRASS CAP FOUND IN PLACE; THENCE N 00°01'20" W 344.80 FEET CONTINUING ALONG THE WEST LINE OF SAID SECTION 16 TO TEE NORTHWEST CORNER OF SAID SECTION 16 BEING A 2-1/2 INCH GLO BRASS CAP FOUND IN PLACE, THENCE N 89°57'15" E 2703.26 FEET ALONG THE NORTH LINE OF SAID SECTION 16 TO THE NORTH QUARTER CORNER OF SAID SECTION 16 BEING A 2-1/2 INCH GLO BRASS CAP POUND IN PLACE, THENCE N 89°57'09" E 2637.87 FEET CONTINUING ALONG THE NORTH LINE OF SAID SECTION 16 TO THE NORTHEAST CORNER OF SAID SECTION 16 BEING A 2-1/2 INCH GLO BRASS CAP FOUND IN PLACE; THENCE N 89°58'17" E 2638.56 FEET ALONG TEE NORTH LINE OF SAID SECTION 15 TO THE NORTH QUARTER CORNER OF SAID SECTION 15 BEING A 2-1/2 INCH GLO BRASS CAP FOUND IN PLACE; THENCE S 89°59'36" E 1316.31 FEET CONTINUING ALONG THE NORTH LINE OF SAID SECTION 15 TO THE WEST LINE OF THE NE1/4NE1/4 OF SAID SECTION 15 BEING A 3-INCH ALUMINUM CAP (L.S. 15710) FOUND IN PLACE WHENCE THE NORTHEAST CORNER OF SAID SECTION 15 BEING A 2-1/2 INCH GLO BRAGS CAP FOUND IN PLACE BEARS S 89°59'36" E 1318.31 FEET; THENCE S 00°00'09" E 1312.36 FEET ALONG THE WEST LINE OF THE NE1/4NE1/4 OF SAID SECTION 15, TO THE SOUTHWEST CORNER OF THE NE1/4NE1/4 OF SAID SECTION 15 BEING A 3-INCH ALUMINUM CAP (L.S. 15720) POUND IN PLACE; THENCE N 89°55'46" EAST 1317.67 FEET ALONG THE SOUTH LINE OF THE NE1/4NE1/4 OF SAID SECTION 15 TO THE SOUTHEAST CORNER OF THE NE1/4NE1/4 OF SAID SECTION 15 BEING A 3-INCH ALUMINUM CAP (L.S. 15710) FOUND This page is only a part of a 2016 ALTA® Commitment for Title Insurance issued by First American Title Insurance Company. Thi s Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I -Requirements; Schedule B, Part II-Exceptions. Copyright 2006-2016 American Land Title Association. All rights reserved. The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association. Form 50004008 (8-23-18) Page 6 of 33 ALTA Commitment for Title Insurance (8-1-16) Colorado IN PLACE; THENCE S. 89°58'46" EAST 1320.64 FEET ALONG THE NORTH LINE OF THE SW1/4NW1/4 OF SAID SECTION 14 TO THE NORTHEAST CORNER OF THE SW1/4NW1/4 OF SAID SECTION 14 BEING A 3 -INCH ALUMINUM CAP (L.S. 15710) FOUND IN PLACE; THENCE S 00°01'34' W 1312.94 FEET ALONG THE EAST LINE OF THE SW1/4NW1/4 OF SAID SECTION 14 TO THE SOUTHEAST CORNER OF THE SW1/4NW1/4 OF SAID SECTION 14; THENCE S 00°01'19" EAST 1667.58 FEET ALONG THE EAST LINE OF THE W1/2SW1/4 OF SAID SECTION 14; THENCE S 89°58'41" W A DISTANCE OF 1319.21 FEET TO A POINT ON THE EAST LINE OF SECTION 15; THENCE N 00°04'13" W A DISTANCE OF 370.03 FEET ALONG THE EAST LING OF SECTION 15; THENCE N 90°00'00" W A DISTANCE OF 1360.33 FEET; THENCE N 00°00'00" W A DISTANCE OF 940.00 FEET; THENCE N 90°00'00" W A DISTANCE OF 1440.00 FEET; THENCE S 00°00'00" W A DISTANCE OF 150.00 FEET; THENCE S 89°58'11" W A DISTANCE OF 1158.63 FEET TO A POINT ON THE EAST LINE OF THE NW1/4SW1/4 OF SAID SECTION 15; THENCE N 00°01'49" W A DISTANCE OF 501.28 FEET ALONG SAID EAST LINE OF THE NW1/4SW1/4 OF SAID SECTION 15 TO THE NORTHEAST CORNER OF SAID NW1/4SW1/4 OF SECTION 15 BEING A 2 INCH ALUMINUM CAP (P.E.L.S. 5933); THENCE S 89°51'07" W A DISTANCE OF 1323.59 FEET ALONG THE NORTH LINE OF SAID NW1/4SW1/4 OF SECTION 15 TO THE W1/4 CORNER OF SAID SECTION 15 BEING A 2-1/2 INCH GLO BRASS CAP; THENCE S 00°05'16" W A DISTANCE OF 1535.19 FEET ALONG THE WEST LING OF SAID SECTION 15 TO THE SOUTHWEST CORNER OF SAID NW1/4SW1/4 OF SECTION 15 BEING A 2 INCH ALUMINUM CAP (P.E.L.S. 5933); THENCE S 89°51'32" E 856.76 FEET ALONG THE SOUTH LINE SAID NW1/4SW1/4 OF SECTION 15; THENCE S 00°00'00" W A DISTANCE OF 700.00 FEET; THENCE N 60°11'19" E A DISTANCE OF 1740.00 FEET; THENCE S 44°04'32" E A DISTANCE OF 720.00 FEET; THENCE S 59°25'06" E A DISTANCE OF 380.00 FEET; THENCE S 04'18'14" W A DISTANCE OF 1705.77 FEET; THENCE S 52°00'40" W A DISTANCE OF 570.00 FEET; THENCE S 32°36'07" E A DISTANCE OF 720.00 FEET; THENCE N 55°19'58" E A DISTANCE OF 662.28 FEET; THENCE S 34°57'59" E A DISTANCE OF 1160.00 FEET; THENCE S 61°02'11" W A DISTANCE OF 1510.00 FEET; THENCE S 49°17'33" W A DISTANCE OF 440.21 FEET; THENCE S 67°46'01" W A DISTANCE OF 2056.57 FEET; THENCE S 33°43'34" E A DISTANCE OF 2585.68 FEET; THENCE S 57°12'11" E A DISTANCE OF 1507.60 FEET; THENCE S 25°57'07" E A DISTANCE OF 1863.71 FEET; THENCE S 08°45'36" E A DISTANCE OF 1546.11 FEET; THENCE S 00°45'01" W A DISTANCE OF 425.99 FEET; THENCE N 89°14'59" W A DISTANCE OF 2048.85 FEET ALONG THE SOUTH LINE OF SAID SECTION 27 BEING A 2-1/2 INCH GLO BRASS CAP FOUND IN PLACE; THENCE N 89°17'11" W 1319.72 FEET ALONG THE NORTH LINE OF SAID SECTION 34 TO THE NE CORNER W1/2NW1/4 OF SAID SECTION 34 WHENCE THE NORTHWEST CORNER OF SAID SECTION 34 BEARS N 89°17'11" W 1319.72 FEET; THENCE S 00°05'58" E 2466.04 FEET ALONG THE EAST LINE OF THE W1/2NW1/4 OF SAID SECTION 34 TO TEE SOUTHEAST CORNER OF THE W1/2NW1/4 OF SAID SECTION 34; THENCE S 89°51'39" W 1389.27 FEET ALONG THE SOUTH LINE OF THE W1/2NW1/4 OF SAID SECTION 34 TO THE WEST QUARTER CORNER OF SAID SECTION 34 BEING A STONE MONUMENT FOUND IN PLACE AND RE -MONUMENTED WITH A 2-INCH ALUMINUM CAP (P.E.L.S. 5933); THENCE N 88°27'45" W 2511.99 FEET ALONG THE SOUTH LINE OF THE NE1/4 OF SAID SECTION 33 TO THE CENTER QUARTER OF SAID SECTION 33 BEING A 3 INCH ALUMINUM CAP (COUNTY SURVEYOR) FOUND IN PLACE; THENCE N 88°27'28" W 1092.52 FEET ALONG THE SOUTH LINE OF LOT 6 OF SAID SECTION 33 TO THE SOUTHWEST CORNER OF SAID LOT 6; THENCE N 00°19'52" E 821.58 FEET ALONG THE WEST LINE OF SAID LOT 6 TO THE SOUTHEAST CORNER OF LOT 5 OF SAID SECTION 33; This page is only a part of a 2016 ALTA® Commitment for Title Insurance issued by First American Title Insurance Company. Thi s Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I -Requirements; Schedule B, Part II-Exceptions. Copyright 2006-2016 American Land Title Association. All rights reserved. The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association. Form 50004008 (8-23-18) Page 7 of 33 ALTA Commitment for Title Insurance (8-1-16) Colorado THENCE N 88°29'25" W 1065.30 FEET ALONG THE SOUTH LINE OF SAID LOT 5 TO A POINT ON THE NORTHERLY RIGHT-OF-WAY OF GARFIELD COUNTY ROAD 119; THENCE THE FOLLOWING SEVENTEEN (17) COURSES ALONG THE NORTHERLY RIGHT-OF-WAY OF SAID COUNTY ROAD 119: 1. THENCE ALONG THE ARC OF A NON-TANGENT CURVE TO THE LEFT HAVING A RADIUS OF 190.00 FEET, AND A CENTRAL ANGLE OF 40°11'43" FOR A DISTANCE ALONG THE CURVE OF 133.29 FEET; THE CHORD OF SAID CURVE BEARS N 69°42'36" W A DISTANCE OF 130.58 FEET; 2. THENCE N 89°48'27" W 335.07 FEET TO A POINT ON THE WEST LINE OF SAID SECTION 33 WHENCE THE NORTHWEST CORNER OF SAID SECTION 33 BEING A 3-INCH COUNTY SURVEYOR'S ALUMINUM CAP FOUND IN PLACE BEARS N 01°14'21" E 1729.72 FEET; 3. THENCE N 89°48'27" W 746.63 FEET 4. THENCE ALONG THE ARC OF A CURVE TO THE RIGHT HAVING A RADIUS OF 9975.00 FEET, AND A CENTRAL ANGLE OF 01'23'23" FOR A DISTANCE ALONG THE CURVE OF 241.95 FEET; THE CHORD OF SAID CURVE BEARS N 89°06'46" W A DISTANCE OF 241.94 FEET; 5. THENCE N 88°25'04" W 886.82 FEET; 6. THENCE ALONG THE ARC OF A CURVE TO THE RIGHT HAVING A RADIUS OF 30.00 FEET, AND A CENTRAL ANGLE OF 101°43'17" FOR A DISTANCE ALONG THE CURVE OF 53.26 FEET; THE CHORD OF SAID CURVE BEAR S N 37°33'26" W A DISTANCE OF 46.54 FEET; 7. THENCE N 13°18'13" E 1531.48 FEET; 8. THENCE ALONG THE ARC OF A CURVE TO THE LEFT HAVING A RADIUS OF 715.00 FEET, AND A CENTRAL ANGLE OF 15°55'12" FOR A DISTANCE ALONG THE CURVE OF 198.67 FEET; THE CHORD OF SAID CURVE BEARS N 05°20'37" E A DISTANCE OF 198.03 FEET TO A POINT ON THE SOUTH LINE OF SAID SECTION 29 WHENCE THE SOUTHEAST CORNER OF SAID SECTION 29 BEARS S 89°03'23" E 1570.16 FEET; 9. THENCE ALONG THE ARC OF A CURVE TO THE LEFT HAVING A RADIUS OF 715.00 FEET, AND A CENTRAL ANGLE OF 29°05'27" FOR A DISTANCE ALONG THE CURVE OF 363.03 FEET; THE CHORD OF SAID CURVE BEARS N 17°09'43" W A DISTANCE OF 359.14 FEET; 10. THENCE ALONG THE ARC OF A CURVE TO THE LEFT HAVING A RADIUS OF 1853.11 FEET, AND A CENTRAL ANGLE OF 14°56'46" FOR A DISTANCE ALONG THE CURVE OF 483.40 FEET; THE CHORD OF SAID CURVE BEARS N 39°10'49" W A DISTANCE OF 482.03 FEET; 11. THENCE N 46°39'12" W 512.11 FEET; 12. THENCE ALONG THE ARC OF A CURVE TO THE LEFT HAVING A RADIUS OF 544.29 FEET, AND A CENTRAL ANGLE OF 29°19'12" FOR A DISTANCE ALONG THE CURVE OF 278.53 FEET; THE CHORD OF SAID CURVE BEARS N 61°18'49" W A DISTANCE OF 275.50 FEET; 13. THENCE N 75°55'25" W 274.72 FEET; 14. THENCE ALONG THE ARC OF A CURVE TO THE RIGHT HAVING A RADIUS OF 777.56 FEET, AND A CENTRAL ANGLE OF 10°01'45" FOR A DISTANCE ALONG THE CURVE OF 136.11 FEET; THE CHORD OF SAID CURVE BEARS N 70°57'32" W A DISTANCE OF 135.93 FEET; 15. THENCE N 65°56'40" W 288.79 FEET; 16. THENCE ALONG THE ARC OF A CURVE TO THE RIGHT HAVING A RADIUS OF 934.49 FEET, AND A CENTRAL ANGLE OF 12°43'09" FOR A DISTANCE ALONG THE CURVE OF 207.45 FEET; THE CHORD OF SAID CURVE BEARS N 59°35'05" W A DISTANCE OF 207.03 FEET; 17. THENCE N 53°13'30" W 363.38 FEET TO A POINT ON THE WEST LINE OF LOT 26 OF SAID SECTION 29; THENCE N 00°30'27" E 619.90 FEET ALONG THE WEST LING OF SAID LOT 26 TO THE NORTHWEST CORNER OF SAID LOT 26, THENCE N 90°00'00" W 65.41 FEET TO A FENCE POST WITH A PK-NAIL IN THE TOP AND ACCEPTED AS THE SOUTHWEST CORNER OF LOT 20 OF SAID SECTION 29; THENCE N 00'34'26" E 2165.03 FEET ALONG THE ACCEPTED WEST LINE OF LOTS 20, 16, AND 8 OF SAID SECTION 29 TO A RED PLASTIC CAP (P.L.S. 27929); THENCE N 00°33'35" E 431.30 FEET TO THE SOUTHWEST CORNER OF A PARCEL OF LAND DESCRIBED IN BOOK 5 27 AT PAGE 951 IN THE OFFICE OF TEE GARFIELD COUNTY CLERK AND RECORDER; THENCE ALONG THE SOUTHERLY BOUNDARY OF SAID PARCEL OF LAND DESCRIBED IN BOOK 527 AT PAGE 951 S 89°32'20" E 431.36 FEET; THENCE THE FOLLOWING TWO COURSES ALONG THE SOUTHERLY BOUNDARY OF A PARCEL OF LAND DESCRIBED IN BOOK 872 AT PAGE 768 IN THE OFFICE OF THE GARFIELD COUNTY CLERK AND RECORDER: 1. THENCE S 50°51'48" E 497.50 FEET; This page is only a part of a 2016 ALTA® Commitment for Title Insurance issued by First American Title Insurance Company. Thi s Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I -Requirements; Schedule B, Part II-Exceptions. Copyright 2006-2016 American Land Title Association. All rights reserved. The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association. Form 50004008 (8-23-18) Page 8 of 33 ALTA Commitment for Title Insurance (8-1-16) Colorado 2. THENCE S 57°58'21" E 57.39 FEET TO A POINT ON THE SOUTHERLY BOUNDARY OF A PARCEL OF LAND DESCRIBED IN BOOK 915 AT PAGE 112 IN THE OFFICE OF THE GARFIELD COUNTY CLERK AND RECORDER; THENCE S 57°58'21" E 305.00 FEET ALONG THE SOUTHERLY BOUNDARY OF SAID PARCEL OF LAND DESCRIBED IN BOOK 915 AT PACE 112; THENCE S 33°33'03" E 149.53 FEET ALONG THE SOUTHWESTERLY BOUNDARY OP A PARCEL OF LAND DESCRIBED IN BOOK 621 AT PAGE 219 IN THE OFFICE OF THE GARFIELD COUNTY CLERK AND RECORDER; THENCE S 81°36'23" E 133.95 FEET ALONG THE SOUTHERLY BOUNDARIES OF PARCELS OF LAND DESCRIBED IN BOOK 621 AT PAGE 219 AND BOOK 965 AT PAGE 509 IN THE OFFICE OF THE GARFIELD COUNTY CLERK AND RECORDER TO A POINT ON THE BOUNDARY OF SAID PARCEL OF LAND DESCRIBED IN BOOK 965 AT PAGE 509; THENCE THE FOLLOWING THREE COURSES ALONG THE SOUTHEASTERLY BOUNDARY OF SAID PARCEL DESCRIBED IN BOOK 965 AT PAGE 509: 1. THENCE S 81°42'23" E 302.25 FEET; 2. THENCE N 05°12'20" E 149.94 FEET; 3. THENCE ALONG THE ARC OF A CURVE TO THE RIGHT HAVING A RADIUS OF 55.23 FEET, AND A CENTRAL ANGLE OF 40°33'24" FOR A DISTANCE ALONG THE CURVE OF 39.09 FEET; THE CHORD O F SAID CURVE BEARS N 25°28'41" E A DISTANCE OF 38.28 FEET TO A POINT ON THE SOUTHERLY BOUNDARY OF A PARCEL OF LAND DESCRIBED IN BOOK 808 AT PAGE 803 IN THE OFFICE OF THE GARFIELD COUNTY CLERK AND RECORDER; THENCE THE FOLLOWING THREE COURSES ALONG THE EASTERLY BOUNDARY OF SAID PARCEL DESCRIBED IN BOOK 808 AT PAGE 803: 1. THENCE S 81°42'37" E 123.19 FEET; 2. THENCE N 21°00'23" W 820.84 FEET TO A POINT ON THE SOUTH LINE OF SAID SECTION 20 WHENCE THE SOUTH QUARTER CORNER OF SAID SECTION 20 BEING A STONE MONUMENT FOUND IN PLACE AND RE-MONUMENTED WITH A 2-INCH ALUMINUM CAP (P.E.L.S. 5933) BEARS N 88°32'13" W 248.98 FEET; 3. THENCE N 21°00'23" W 137.24 FEET TO A POINT ON THE NORTHERLY RIGHT -OF-WAY OF GARFIELD COUNTY ROAD 115; THENCE THE FOLLOWING TWO COURSES ALONG THE NORTHERLY RIGHT-OF-WAY OF SAID COUNTY ROAD 115: 1. THENCE ALONG THE ARC OF A NON-TANGENT CURVE TO THE RIGHT HAVING A RADIUS OF 5288.82 FEET, AND A CENTRAL ANGLE OF 02°43'04" FOR A DISTANCE ALONG THE CURVE OF 250.07 FEET; THE CHORD OF SAID CURVE BEARS N 73°59'48" W A DISTANCE OF 250.84 FEET; 2. THENCE N 72°38'16" W 1244.87 FEET TO A POINT ON THE ACCEPTED EAST LINE OF LOT 4 OF SAID SECTION 20 WHENCE THE SOUTHEAST CORNER OF A PARCEL OF LAND RECORDED UNDER RECEPTION NUMBER 467225 IN THE OFFICE OF THE GARFIELD COUNTY CLERK AND RECORDER BEING A RED PLASTIC CAP (P.L.S. 27613) FOUND IN PLACE AND ACCEPTED AS A POINT ON THE EAST LINE OF SAID LOT 4 BEARS S 01°51'02" W 9.41 FEET; THENCE N 01°51'02" E 490.79 FEET ALONG THE ACCEPTED EAST LINE OF SAID LOT 4 TO T HE NORTHEAST CORNER OF SAID LOT 4 BEING A STONE MONUMENT FOUND IN PLACE AND RE-MONUMENTED WITH A 2-INCH ALUMINUM CAP (P.E.L.S. 5933); THENCE N 88°18'52" W 1429.59 FEET ALONG THE NORTH LINE OF SAID LOT 4 AND LOT 3 OF SAID SECTION 20 TO THE NORTHWEST CORNER OF SAID LOT 3 WHENCE THE SOUTHWEST CORNER OF SAID LOT 20 BEING A 2-1/2 INCH ALUMINUM CAP (P.L.S. 27929) FOUND IN PLACE BEARS S 00°06'31" E 1008.11 FEET; THENCE N 00°06'31" W 1630.93 FEET ALONG THE WEST LINE OF SAID SECTION 20 TO THE WEST QUARTER CORNER OF SAID SECTION 20 BEING A STONE MONUMENT FOUND IN PLACE AND RE-MONUMENTED WITH A 2-INCH ALUMINUM CAP (P.E.L.S. 5933); THENCE N 00°04'12" E 2632.88 FEET ALONG THE WEST LINE OF SAID SECTION 20 TO THE NORTHWEST CORNER OF SAID SECTION 20 BEING THE POINT OF BEGINNING. EXCEPTING THEREFROM 1 THE FOLLOWING FOUR PARCELS: 1)MIDDLE EXCEPTION PARCEL LEGAL DESCRIPTION A PARCEL OF LAND LOCATED IN THE WEST HALF OF SECTION 29 AND NORTHWEST QUARTER OF SECTION 28, TOWNSHIP 6 SOUTH, RANGE 88 WEST, OF THE SIXTH PRINCIPAL MERIDIAN, SAID PARCEL BEING FURTHER DESCRIBED AS FOLLOWS: BEGINNING AT A POINT ON THE EASTERLY LINE OF SAID SECTION 29 WHENCE THE NORTHEAST CORNER OF SECTION 29 BEING A 2-1/2 INCH GLO BRASS CAP FOUND IN PLACE BEARS N 01°09'28" E 1250.72 FEET; THENCE S 01°09'28" W 346.32 FEET ALONG THE EAST LINE OF SAID SECTION 29 TO A POINT ON THE NORTHERLY This page is only a part of a 2016 ALTA® Commitment for Title Insurance issued by First American Title Insurance Company. Thi s Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I -Requirements; Schedule B, Part II-Exceptions. Copyright 2006-2016 American Land Title Association. All rights reserved. The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association. Form 50004008 (8-23-18) Page 9 of 33 ALTA Commitment for Title Insurance (8-1-16) Colorado LINE OF A PARCEL OF LAND DESCRIBED IN BOOK 495 AT PAGE 596 IN THE OFFICE OF THE GARFIELD COUNTY CLERK AND RECORDER, WHENCE THE WEST QUARTER CORNER OF SAID SECTION 28 BEING A 3 INCH ALUMINUM CAP (COUNTY SURVEYOR) BEARS S 01°09'28" E 987.24 FEET; THENCE S 68°09'03" E 557.11 FEET ALONG THE NORTHERLY LINE OF SAID PARCEL OF LAND DESCRIBED IN BOOK 495 AT PAGE 596 TO A POINT ON THE SOUTHERLY RIGHT-OF-WAY LINE OF GARFIELD COUNTY ROAD 115; THENCE ALONG THE ARC OF A CURVE TO THE LEFT HAVING A RADIUS OF 826.12 FEET, AND A CENTRAL ANGLE OF 17°50'11" FOR A DISTANCE ALONG THE CURVE OF 257.17 FEET; THE CHORD OF SAID CURVE BEARS S 64°07'06" E A DISTANCE OF 256.14 FEET ALONG THE SOUTHERLY RIGHT-OF-WAY OF SAID COUNTY ROAD 115; THENCE S 73°02'14" E 43.18 FEET CONTINUING ALONG THE SOUTHERLY RIGHT-OF-WAY LINE OF SAID COUNTY ROAD 115 TO A POINT IN THE EASTERLY LINE OF SAID PARCEL OF LAND DESCRIBED IN BOOK 495 AT PAGE 596; THENCE S 00°01'52" W 114.31 FEET ALONG THE EASTERLY BOUNDARY OF SAID PARCEL OF LAND DESCRIBED IN BOOK 495 AT PAGE 596 TO THE SOUTHEAST CORNER OF SAID PARCEL OF LAND DESCRIBED IN BOOK 495 AT PAGE 596; THENCE THE FOLLOWING FOUR COURSES ALONG THE SOUTHERLY BOUNDARY OF SAID PARCEL OF LAND DESCRIBED IN BOOK 495 AT PAGE 596; 1. THENCE N 89°56'06" W 327.05 FEET; 2. THENCE S 54°10'41" W 185.54 FEET; 3. THENCE N 42°16'19" W 154.20 FEET; 4. THENCE S 59°30'35" W 216.33 FEET TO A POINT ON THE BOUNDARY OF A PARCEL OF LAND DESCRIB ED IN BOOK 988 AT PAGE 802 IN THE OFFICE OF THE GARFIELD COUNTY CLERK AND RECORDER; THENCE THE FOLLOWING SIX COURSES AROUND THE EASTERLY, NORTHERLY, AND SOUTHERLY BOUNDARIES OF SAID PARCEL OF LAND DESCRIBED IN BOOK 988 AT PAGE 802: 1. THENCE S 13°45'40" E 111.74 FEET; 2. THENCE S 89°58'06" E 101.60 FEET; 3. THENCE S 00°01'52" W 69.06 FEET; 4. THENCE S 88°48'28" E 25.57 FEET; 5. THENCE S 00°37'24" E 148.37 FEET; 6. THENCE S 14°45'31" E 57.78 FEET;, THENCE S 58°03'40" W 625.36 FEET ALONG THE SOUTHERLY BOUNDARIES OF PARCELS OF LAND DESCRIBED IN BOOK 988 AT PAGE 802 AND BOOK 736 AT PAGE 345 IN THE OFFICE OF THE GARFIELD COUNTY CLERK AND RECORDER TO A POINT ON THE SOUTHERLY BOUNDARY OF SAID PARCEL OF LAND DESCRIBED IN BOOK 736 AT PAGE 345; THENCE ALONG THE SOUTHERLY AND WESTERLY BOUNDARIES OF SAID PARCEL OF LAND DESCRIBED IN BOOK 736 AT PAGE 345 THE FIVE (5) COURSES: 1. THENCE N 75°53'28" W 35.87 FEET; 2. THENCE N 66°59'35" W 380.19 FEET; 3. THENCE N 50°53'55" W 27.02 FEET; 4. THENCE N 25°54'08" W 19.09 FEET; 5. THENCE N 05°06'09" W 580.16 FEET; TO A POINT ON THE WESTERLY BOUNDARY OF A PARCEL OF LAND DESCRIBED IN BOOK 886 AT PAGE 329 IN THE OFFICE OF THE GARFIELD COUNTY CLERK AND RECORDER; THENCE ALONG THE WESTERLY AND NORTHERLY BOUNDARIES OF SAID PARCEL OF AND DESCRIBED IN BOOK 886 AT PAGE 329 THE FOLLOWING (3) COURSES: 1. THENCE N 05°36'42" W 538.91 FEET; 2. THENCE N 04°18'35" W 374.95 FEET; 3. THENCE N 82°52'22" E 323.76 FEET TO A POINT ON THE SOUTHERLY RIGHT-OF-WAY LINE OF SAID GARFIELD COUNTY ROAD 115; THENCE ALONG THE SAID RIGHT-OF-WAY LINE THE FOLLOWING THREE (3) COURSES: 1. THENCE ALONG THE ARC OF A NON TANGENT CURVE TO THE LEFT HAVING A RADIUS OF 993.47 FEET, AND A CENTRAL ANGLE OF 03°01'08" FOR A DISTANCE ALONG THE CURVE OF 52.35 FEET; THE CHORD OF WHICH BEARS S 34°41'10" E A DISTANCE OF 52.34 FEET; 2. THENCE ALONG THE ARC OF A CURVE TO THE LEFT HAVING A RADIUS OF 480.00 FEET, AND A CENTRAL ANGLE OF 36°06'40" FOR A DISTANCE ALONG THE CURVE OF 302.52 FEET) THE CHORD OF SAID CURVE BEARS S 54°15'04 E A DISTANCE OF 297.54 FEET; 3. THENCE S 72°18'24" E 273.90 FEET TO THE POINT OF BEGINNING. This page is only a part of a 2016 ALTA® Commitment for Title Insurance issued by First American Title Insurance Company. Thi s Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I -Requirements; Schedule B, Part II-Exceptions. Copyright 2006-2016 American Land Title Association. All rights reserved. The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association. Form 50004008 (8-23-18) Page 10 of 33 ALTA Commitment for Title Insurance (8-1-16) Colorado 2) EAST EXCEPTION PARCEL LEGAL DESCRIPTION A PARCEL OF LAND LOCATED IN SECTION 28, TOWNSHIP 6 SOUTH, RANGE 88 WEST, OF THE SIXTH PRINCIPAL MERIDIAN BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: BEGINNING AT THE SOUTH QUARTER CORNER OF SECTION 28 BEING A STONE MONUMENT FOUND IN PLACE AND RE-MONUMENTED WITH A 2-INCH ALUMINUM CAP (P.E.L.S. 5933); THENCE N 88°33'15" W 1084.24 FEET ALONG THE SOUTH LINE OF SECTION 28 TO A POINT ON THE WESTERLY BOUNDARY OF A PARCEL OF LAND DESCRIBED IN BOOK 938, PAGE 691 IN THE OFFICE OF THE GARFIELD COUNTY CLERK AND RECORDER; WHENCE THE SOUTHWEST CORNER OF SECTION 28 BEING A 3-INCH COUNTY SURVEYOR ALUMINUM CAP FOUND IN PLACE BEARS S 88°33'15" E 1495.74 FEET; THENCE N 01°00'28" E 2568.63 FEET ALONG THE WESTERLY BOUNDARY OF SAID PARCEL OF LAND DESCRIBED IN BOOK 938 AT PAGE 691 TO A POINT ON THE WESTERLY BOUNDARY OF A PARCEL OF LAND DESCRIBED IN BOOK 638 AT PAGE 941 IN TEE OFFICE OF THE GARFIELD COUNTY CLERK AND RECORDER; THENCE N 01°01'12" E 691.65 FEET ALONG THE WESTERLY BOUNDARY OF SAID PARCEL OF LAND DESCRIBED IN BOOK 638 AT 941 TO A POINT ON THE SOUTHERLY RIGHT-OF-WAY LINE OF SAID GARFIELD COUNTY ROAD 115; THENCE ALONG THE SOUTHERLY RIGHT-OF-WAY LINE OF SAID COUNTY ROAD 115 THE FOLLOWING SEVEN (7) COURSES: 1. ALONG THE ARC OF A NON-TANGENT CURVE TO THE RIGHT HAVING A RADIUS OF 594.56 FEET, AND A CENTRAL ANGLE OF 41°58'28" FOR A DISTANCE ALONG THE CURVE OF 435.57 FEET; THE CHORD OF SAID CURVE BEARS S 43°10'12" E A DISTANCE OF 425.90 FEET; 2. THENCE S 22°10'58" E 307.62 FEET; 3. THENCE ALONG THE ARC OF A CURVE TO THE LEFT HAVING A RADIUS OF 1421.75 FEET, AND A CENTRAL ANGLE OF 15°49'57" FOR A DISTANCE ALONG THE CURVE OF 392.87 FEET; THE CHORD OF SAID CURVE BEARS S 30°05'57" E A DISTANCE OF 391.63 FEET; 4. THENCE ALONG THE ARC OF A CURVE TO THE RIGHT HAVING A RADIUS OF 370.00 FEET, AND A CENTRAL ANGLE OF 32°43'14" FOR A DISTANCE ALONG THE CURVE OF 211.30 FEET; THE CHORD OF SAID CURVE BEARS S 21°39'19" E A DISTANCE OF 208.44 FEET; 5. THENCE ALONG THE ARC OF A CURVE TO THE LEFT HAVING A RADIUS OF 2437.42 FEET, AND A CENTRAL ANGLE OF 28°42'24" FOR A DISTANCE ALONG THE CURVE OF 1221.22 FEET; THE CHORD OF SAID CURVE BEARS S 19°38'54" E A DISTANCE OF 1208.48. FEET; 6. THENCE S 34°00'06" E 1152.91 FEET; 7. THENCE ALONG THE ARC OF A CURVE TO THE LEFT HAVING A RADIUS OF 430.00 FEET, AND A CENTRAL ANGLE OF 23°03'17" FOR A DISTANCE ALONG THE CURVE OF 173.02 FEET; THE CHORD OF SAID CURV E BEARS S 45°31'45" E A DISTANCE OF 171.86 FEET TO A POINT ON THE SOUTH LINE OF SECTION 28; WHENCE THE SOUTHEAST CORNER OF SECTION 28 BEING A 2-1/2 INCH GLO BRASS CAP FOUND IN PLACE BEARS S 86°11'17" E 1745.44 FEET; THENCE N 86°11'17" W 829.99 FEET ALONG THE SOUTH LINE OF SECTION 28 TO THE POINT OF BEGINNING. 3) GARFIELD COUNTY ROAD 115 EXCEPTION PARCEL LEGAL DESCRIPTION A PARCEL OF LAND LOCATED IN SECTIONS 20, 29, 28, 33, AND 34, TOWNSHIP 6 SOUTH, RANGE 88 WEST, OF THE SIXTH PRINCIPAL MERIDIAN, SAID PARCEL BEING A 60 FOOT WIDE RIGHT-OF-WAY EXTENDING THIRTY FEET ON EACH SIDE OF THE FOLLOWING DESCRIBED CENTERLINE FOR GARFIELD COUNTY ROAD 115, SAID CENTERLINE BEING FURTHER DESCRIBED AS FOLLOWS: BEGINNING AT A POINT FROM WHENCE THE SOUTHWEST CORNER OF SAID SECTION 20 BEARS S 89°59'26" W A DISTANCE OF 2853.70 FEET, SAID SECTION CORNER BEING A 2-1/2 INCH ALUMINUM CAP FOUND IN PLACE; THENCE ALONG THE ARC OF A CURVE TO THE LEFT HAVING A RADIUS OF 5318.82 FEET, AND A CENTRAL ANGLE OF 04°16'52" FOR A DISTANCE ALONG THE CURVE OF 397.42 FEET; THE CHORD OF SAID CURVE BEARS S 77°43'40" E A DISTANCE OF 397.32 FEET, THENCE S 79°52'05" E 121.04 FEET TO A POINT ALONG THE SECTION LINE COMMON TO SAID SECTIONS 20 AND 29 FROM WHENCE THE QUARTER CORNER COMMON TO SAID SECTIO NS 20 AND 29 BEING A STONE MONUMENT FOUND IN PLACE AND RE-MONUMENTED WITH A 2-INCH ALUMINUM CAP BEARS N 88°32'13" W 720.55 FEET; THENCE S 79°52'05" E 331.86 FEET; This page is only a part of a 2016 ALTA® Commitment for Title Insurance issued by First American Title Insurance Company. Thi s Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I -Requirements; Schedule B, Part II-Exceptions. Copyright 2006-2016 American Land Title Association. All rights reserved. The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association. Form 50004008 (8-23-18) Page 11 of 33 ALTA Commitment for Title Insurance (8-1-16) Colorado THENCE ALONG THE ARC OF A CURVE TO THE RIGHT HAVING A RADIUS OF 900.00 FEET, AND A CENTRAL ANGLE OF 20°29'08" FOR A DISTANCE ALONG THE CURVE OF 321.79 FEET THE CHORD OF SAID CURVE BEARS S 69°37'31" E A DISTANCE OF 320.08 FEET; THENCE S 59°22'57" E 217.30 FEET; THENCE ALONG THE ARC OF A CURVE TO THE RIGHT HAVING A RADIUS OF 1081.34 FEET, AND A CENTRAL ANGLE OF 35°38'00" FOR A DISTANCE ALONG THE CURVE OF 672.50 FEET, THE CHORD OF SAID CURVE BEARS S 41°33'57" E A DISTANCE OF 661.72 FEET; THENCE S 23°44'57" E 73.66 FEET; THENCE ALONG THE ARC OF A CURVE TO THE LEFT HAVING A RADIUS OF 963.47 FEET, AND A CENTRAL ANGLE OF 12°26'47" FOR A DISTANCE ALONG THE CURVE OF 209.29 FEET; THE CHORD OF SAID CURVE BEARS S 29°56'21" E A DISTANCE OF 208.88 FEET; THENCE ALONG THE ARC OF A CURVE TO THE LEFT HAVING RADIUS OF 450.00 FEET, AND A CENTRAL ANGLE OF 36°04'40" FOR A DISTANCE ALONG THE CURVE OF 283.62 FEET; THE CHORD OF SAID CURVE BEARS S 54°15'04" E A DISTANCE OF 278.95 FEET; THENCE S 72°18'24" E 264.99 FEET TO A POINT ALONG THE SECTION LINE COMMON TO SAID SECTIONS 28 AND 29 FROM WHENCE THE NORTHEAST CORNER OF SAID SECTION 29 BEING A 2-1/2 INCH GLO BRASS CAP FOUND IN PLACE BEARS N 01°09'28" E 1219.42 FEET; THENCE S 72°18'24" E 167.61 FEET; THENCE ALONG THE ARC OF A CURVE TO THE RIGHT HAVING A RADIUS OF 377.41 FEET, AND A CENTRAL ANGLE OF 25°33'14" FOR A DISTANCE ALONG THE CURVE OF 168.32 FEET; THE CHORD OF SAID CURVE BEARS S 59°31'47" E A DISTANCE OF 166.93 FEET, THENCE S 46°45'10" E 235.64 FEET; THENCE ALONG THE ARC OF A CURVE TO THE LEFT HAVING A RADIUS OF 796.12 FEET, AND A CENTRAL ANGLE OF 26°17'03" FOR A DISTANCE ALONG THE CURVE OF 365.22 FEET, THE CHORD OF SAID CURVE BEARS S 59°53'42" E A DISTANCE OF 362.02 FEET, THENCE S 73°02'14" E 636.67 FEET, THENCE ALONG THE ARC OF A CURVE TO THE RIGHT HAVING A RADIUS OF 624.56 FEET, AND A CENTRAL ANGLE 50°51'15" FOR A DISTANCE ALONG THE CURVE OF 554.35 FEET, THE CHORD OF SAID CURVE BEARS S 47°36'36" E A DISTANCE OF 536.33 FEET, THENCE S 22°10'58" E 307.62 FEET, THENCE ALONG THE ARC OF A CURVE TO THE LEFT HAVING A RADIUS OF 1391.75 FEET, AND A CENTRAL ANGLE OF 15°49'57" FOR A DISTANCE ALONG THE CURVE OF 384.58 FEET, THE CHORD OF SAID CURVE BEARS S 30°05'57" E A DISTANCE OF 383.36 FEET, THENCE ALONG THE ARC OF A CURVE TO THE RIGHT HAVING A RADIUS OF 400.00 FEET, AND A CENTRAL ANGLE OF 32°43'14" FOR A DISTANCE ALONG THE CURVE OF 225.34 FEET, THENCE ALONG THE ARC OF A CURVE TO THE LEFT HAVING A RADIUS OF 2407.42 FEET, AND A CENTRAL ANGLE OF 28°42'24" FOR A DISTANCE ALONG THE CURVE OF 1206.18 FEET; THE CHORD OF SAID CURVE BEARS S 19°38'54" E A DISTANCE OF 1193.61 FEET; THENCE S 34°00'06" E 1152.91 FEET; THENCE ALONG THE ARC OF A CURVE TO THE LEFT HAVING A RADIUS OF 400.00 FEET, AND A CENTRAL ANGLE OF 25°53'11" FOR A DISTANCE ALONG THE CURVE OF 180.72 FEET; THE CHORD OF SAID CURVE BEARS S 46°56'42" E A DISTANCE OF 179.19 FEET; THENCE S 5953'17" E 38.40 FEET TO A POINT ALONG THE SECTION LINE COMMON TO SAID SECTIONS 28 AND 33 FROM WHENCE THE QUARTER CORNER COMMON TO SAID SECTIONS 28 AND 33 BEING A STONE MONUMENT FOUND IN PLACE AND RE-MONUMENTED WITH A 2-INCH ALUMINUM CAP BEARS N 86°11'17" W 896.52 FEET, THENCE ALONG THE ARC OF A CURVE TO THE RIGHT HAVING A RADIUS OF 779.79 FEET, AND A CENTRAL ANGLE OF 35°42'49" FOR A DISTANCE ALONG THE CURVE OF 486.06 FEET; THE CHORD OF SAID CURVE BEARS S 42°01'52" E A DISTANCE OF 478.23 FEET; THENCE S 24°10'27" E 644.62 FEET; THENCE ALONG THE ARC OF A CURVE TO THE RIGHT HAVING A RADIUS OF 882.82 FEET, AND A CENTRAL ANGLE OF 26°58'38" FOR A DISTANCE ALONG THE CURVE OF 415.67 FEET, THE CHORD OF SAID CURVE BEARS S 10°42'09" E A DISTANCE OF 411.84 FEET; THENCE S 02°48'10" W 238.01 FEET; THENCE ALONG THE ARC OF A CURVE TO THE LEFT HAVING A RADIUS OF 729.53 FEET, AND A CENTRAL ANGLE OF 37°41'54" FOR A DISTANCE ALONG THE CURVE OF 480.00 FEET, THE CHORD OF SAID CURVE BEARS S 16°02'47" E A DISTANCE OF 471.39 FEET, THENCE ALONG THE ARC OF A CURVE TO THE LEFT HAVING A RADIUS OF 200.00 FEET, AND A CENTRAL ANGLE OF 53°37'43" FOR A DISTANCE ALONG THE CURVE OF 187.20 FEET, THE CHORD OF SAID CURVE BEARS S 61°42'35" E A DISTANCE OF 180.44 FEET, THENCE ALONG THE ARC OF A CURVE TO THE LEFT HAVING A RADIUS OF 2171.07 FEET, AND A CENTRAL ANGLE OF 08°19'31" FOR A DISTANCE ALONG THE CURVE OF 315.47 FEET, THE CHORD OF SAID CURVE BEARS N 87°18'48" E A DISTANCE OF 315.19 FEET TO A POINT ALONG THE SECTION LINE COMMON TO SAID SECTIONS 33 AND 34 FROM WHENCE THE NORTHEAST CORNER OF SAID SECTION 33 BEING A 2-1/2 INCH GLO BRASS CAP FOUND IN PLACE BEARS N 01°30'32" E 2209.86 FEET; THENCE ALONG THE ARC OF A CURVE TO THE LEFT HAVING A RADIUS OF 2171.07 FEET, AND A CENTRAL ANGLE OF 15°20'11" FOR A DISTANCE ALONG THE CURVE OF 581.13 FEET; THE CHORD OP SAID CURVE BEARS N 75°28'57" E A DISTANCE OF 579.40 FEET, THENCE ALONG THE ARC OF A CURVE TO THE RIGHT HAVING A RADIUS OF 280.00 FEET, This page is only a part of a 2016 ALTA® Commitment for Title Insurance issued by First American Title Insurance Company. Thi s Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I -Requirements; Schedule B, Part II-Exceptions. Copyright 2006-2016 American Land Title Association. All rights reserved. The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association. Form 50004008 (8-23-18) Page 12 of 33 ALTA Commitment for Title Insurance (8-1-16) Colorado AND A CENTRAL ANGLE OF 55°26'50" FOR A DISTANCE ALONG THE CURVE OF 270.97 FEET; THE CHORD OF SAID CURVE BEARS S 84°27'44" E A DISTANCE OF 260.52 FEET; THENCE S 56°44'19" E 393.81 FEET; THENCE ALONG THE ARC OF A CURVE TO THE LEFT HAVING A RADIUS OF 669.07 FEET, AND A CENTRAL ANGLE OF 21°39'21" FOR A DISTANCE ALONG THE CURVE OF 252.89 FEET, THE CHORD OF SAID CURVE BEARS S 67°34'00" E A DISTANCE OF 251.38 FEET FROM WHENCE THE SAID NORTHEAST CORNER OF SECTION 33 BEARS N 28°52'13" W 2741.66 FEET; SUCH PARCEL BEING A 60 FOOT RIGHT-OF-WAY (30 FEET ON EACH SIDE OF THE ABOVE DESCRIBED CENTERLINE). THE RIGHT-OF-WAY LINES OF SAID RIGHT-OF-WAY SHALL BE PROLONGED OR SHORTENED TO BEGIN AND END ON AND CONFORM TO THE PROPERTY BOUNDARY LINES. 4) GARFIELD COUNTY ROAD 114 EXCEPTION PARCEL LEGAL DESCRIPTION A PARCEL OF LAND LOCATED IN THE NORTHEAST QUARTER OF SECTION 33, TOWNSHIP 5 SOUTH, RANGE 88 WEST, OF THE SIXTH PRINCIPAL MERIDIAN, SAID PARCEL BEING THE RIGHT-OF-WAY FOR GARFIELD COUNTY ROAD 114 AND THE INTERSECTION OF GARFIELD COUNTY ROAD 114 WITH GARFIELD COUNTY ROAD 115, SAID PARCEL BEING FURTHER DESCRIBED AS FOLLOWS: BEGINNING AT A POINT ON THE SOUTHERN LINE OF THE NORTHEAST QUARTER OF SAID SECTION 33 WHENCE THE EAST QUARTER CORNER OF SAID SECTION 33 BRING A STONE MONUMENT FOUND IN PLACE AND RE -MONUMENTED WITH A 2-INCH ALUMINUM CAP BEARS S 88°27'45" E 551.40 FEET SAID POINT ALSO BEING A POINT ON THE EASTERLY RIGHT-OF-WAY OF GARFIELD COUNTY ROAD 114; THENCE N 88°27'45" W 77.11 FEET ALONG SAID SOUTHERN LINE OF TEE NORTHEAST QUARTER TO A POINT ON THE WESTERLY BOUNDARY OF SAID COUNTY ROAD 114, WHENCE THE CENTER QUARTER FOR SAID SECTION 33 BEING A 2-1/2 INCH ALUMINUM CAP FOUND IN PLACE BEARS N 88°27'45" W 1883.48; THENCE THE FOLLOWING TWO COURSES ALONG THE WESTERLY RIGHT-OF-WAY OF SAID COUNTY ROAD 114: 1. N 40°27'03" E 99.05 FEET; 2. THENCE ALONG THE ARC OF A CURVE TO THE LEFT HAVING A RADIUS OF 270.00 FEET, AND A CENTRAL ANGLE OF 69°20'35" FOR A DISTANCE ALONG THE CURVE OF 326.77 FEET; THE CHORD OF SAID CURVE BEARS N 05°46'46" E A DISTANCE OF 307.19 FEET TO A POINT ON THE SOUTHERLY RIGHT-OF-WAY OF GARFIELD COUNTY ROAD 115; THENCE THE FOLLOWING THREE COURSES ALONG THE SOUTHERN RIGHT-OF-WAY OF COUNTY ROAD 115: 1. ALONG THE ARC OF A NON-TANGENT CURVE TO THE LEFT HAVING A RADIUS OF 759.53 FEET, AND A CENTRAL ANGLE OF 06°00'12" FOR A DISTANCE ALONG THE CURVE OF 79.58 FEET, THE CHORD OF SAID CURVE BEARS S 31°53'38" E A DISTANCE OF 79.55 FEET; 2. THENCE ALONG THE ARC OF A CURVE TO THE LEFT HAVING A RADIUS OF 230.00 FEET, AND A CENTRAL ANGLE OF 53°37'43" FOR A DISTANCE ALONG THE CURVE OF 215.28 FEET; THE CHORD OF SAID CURVE BEARS S 61°42'35" E A DISTANCE OF 207.51 FEET; 3. THENCE ALONG THE ARC OF A CURVE TO THE LEFT HAVING A RADIUS OF 2201.07 FEET, AND A CENTRAL ANGLE OF 03°41'58" FOR A DISTANCE ALONG THE CURVE OF 142.12 FEET, THE CHORD OF SAID CURVE BEARS N 89°37'34" E A DISTANCE OF 142.09 FEET TO A POINT ON THE EASTERLY RIGHT-OF-WAY OF GARFIELD COUNTY ROAD 114; THENCE THE FOLLOWING TWO COURSES ALONG THE EASTERLY RIGHT-OF-WAY OF COUNTY ROAD 114: 1. ALONG THE ARC OF A NON-TANGENT CURVE TO THE LEFT HAVING A RADIUS OF 470.00 FEET, AND A CENTRAL ANGLE OF 47°19'32" FOR A DISTANCE ALONG THE CURVE OF 388.21 FEET, THE CHORD OF SAID CURVE BEARS S 64°06'49" W A DISTANCE OF 377.27 FEET; 2. THENCE S 40°27'03" N 70.18 FEET TO THE POINT OP BEGINNING. THE RIGHT-OF-WAY LINES OF SAID RIGHT-OF-WAY SHALL BE PROLONGED OR SHORTENED TO BEGIN AND END ON AND CONFORM TO THE PROPERTY BOUNDARY LINES. PARCEL 2: A PARCEL OF LAND LOCATED IN SECTIONS 14, 15, 22, 23, 26 AND 27, TOWNSHIP 6 SOUTH, RANGE 88 WEST, SIXTH PRINCIPAL MERIDIAN, BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: BEGINNING AT THE SOUTHWEST CORNER OF SAID SECTION 26 BEING A 2-1/2 INCH UNITED STATES GENERAL LAND This page is only a part of a 2016 ALTA® Commitment for Title Insurance issued by First American Title Insurance Company. Thi s Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I -Requirements; Schedule B, Part II-Exceptions. Copyright 2006-2016 American Land Title Association. All rights reserved. The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association. Form 50004008 (8-23-18) Page 13 of 33 ALTA Commitment for Title Insurance (8-1-16) Colorado OFFICE (GLO) BRASS CAP FOUND IN PLACE WHENCE THE NORTHWEST CORNER OF SECTION 20, TOWNSHIP 6 SOUTH, RANGE 88 WEST, SIXTH PRINCIPAL MERIDIAN BEARS N 55°02'21" W A DISTANCE OF 19,017.18 FEET; THENCE N 89°14'59" W 598.59 FEET ALONG THE SOUTH LINE OF SAID SECTION 27; THENCE N 00°48'01" E A DISTANCE OF 425.99 FEET; THENCE N 08°45'36" W A DISTANCE OF 1546.11 FEET; THENCE N 25°57'07" W A DISTANCE OF 1863.71 FEET; THENCE N 57°12'11" W A DISTANCE OF 1507.60 FEET; THENCE N 33°43'34" W A DISTANCE OF 2585.68 FEET; THENCE N 67°46'01" E A DISTANCE or 2056.57 FEET; THENCE N 49°17'33" E A DISTANCE OF 440.21 FEET; THENCE N 61°02'11" E A DISTANCE OF 1510.00 FEET; THENCE N 34°57'59" W A DISTANCE OF 1160.00 FEET; THENCE S 55°19'58" W A DISTANCE OF 662.28 FEET; THENCE N 32°36'07" W A DISTANCE OF 720.00 FEET; THENCE N 52°00'40" E A DISTANCE OF 570.00 FEET; THENCE N 04°18'14" E A DISTANCE OF 1705.77 FEET; THENCE N 55°25'06" N A DISTANCE OF 380.00 FEET; THENCE N 44°04'32" W A DISTANCE OF 720.00 FEET; THENCE S 60°11'19" W A DISTANCE OF 1740.00 FEET; THENCE N 00°00'00" E A DISTANCE OF 700.00 FEET TO A POINT ON THE SOUTH LINE OF THE NW1/4SW1/4 OF SAID SECTION 15; THENCE N 89°58'25" E A DISTANCE OF 470.00 FEET; ALONG THE SOUTH LINE OF THE NW1/4SW1/4 OF SAID SECTION 15 TO THE SOUTHEAST CORNER OF THE NW1/4SW1/4; THENCE N 00°01'49" W A DISTANCE OF 1039.21 FEET; ALONG THE EAST LINE OF THE NW1/4SW1/4 OF SAID SECTION 15; THENCE N 89°58'11" E A DISTANCE OF 1158.63 FEET; THENCE N 00°00'00" E A DISTANCE OF 150.00 FEET; THENCE S 90°00'00" E A DISTANCE OF 1440.00 FEET; THENCE S 00°00'00" W A DISTANCE OF 940.00 FEET; THENCE S 90°00'00" E A DISTANCE OF 1360.33 FEET TO A POINT ON THE EAST LINE OF SAID SECTION 15; THENCE S 00°04'13" E A DISTANCE OF 370.03 FEET ALONG THE EAST LINE OF SAID SECTION 15; THENCE N 89°58'41" E A DISTANCE OF 1319.22 FEET TO A POINT ON THE E AST LINE OF THE W1/2SW1/4 OF SAID SECTION 14; THENCE S 00°01'19" E 980.00 FEET ALONG THE EAST LINE OF THE W1/2SW1/4 OF SAID SECTION 14 TO THE SOUTHEAST CORNER OF THE W1/2SW1/4 OF SAID SECTION 14; THENCE S 89°59'40" E 1318.39 FEET ALONG THE NORTH LINE OF SAID SECTION 23 TO THE NORTH QUARTER CORNER OF SAID SECTION 23 BEING A 2-1/2 INCH GLO BRASS CAP FOUND IN PLACE; THENCE S 00°05'23" E 5277.46 FEET ALONG THE EAST LINE OF W1/2 OF SAID SECTION 23 TO THE SOUTH QUARTER CORNER OF SAID SECTION 23 BEING A 2-1/2 INCH GLO BRASS CAP FOUND IN PLACE; THENCE S 00°00'49" W 5529.94 FEET ALONG THE EAST LINE OF THE W1/2 OF SAID SECTION 26 TO THE SOUTH QUARTER CORNER OF SAID SECTION 26 BEING A 2-1/2 INCH GLO BRASS CAP FOUND IN PLACE; THENCE S 84°59'30" W 31.37 FEET ALONG THE SOUTH LINE OF SAID SECTION 26 TO THE NORTH QUARTER CORNER OF SECTION 35, T. 6 S., R. 86 W., 6TH P.M., BEING A 2-1/2 INCH GLO BRASS CAP FOUND IN PLACE; THENCE S 84°41'15" W 1292.34 FEET ALONG THE SOUTH LINE OF SAID SECTION 26 TO THE SOUTHEAST CORNER OF GLO LOT 14 OF SAID SECTION 26; THENCE N 00°21'37" E 372.49 FEET ALONG THE EAST LINE OF SAID LOT 14, TO THE NORTHEAST CORNER OF SAID LOT 14; THENCE N 89°53'31" W 1611.72 FEET ALONG THE NORTH LINE OF SAID LOT 14 TO THE NORTHWEST CORNER OF SAID LOT 14; THENCE S 00°00'14" W 525.17 FEET ALONG THE WEST LINE OF SAID LOT 14 TO THE SOUTHWEST CORNER OF SAID SECTION 16, BEING THE POINT OF BEGINNING. PARCEL 3: This page is only a part of a 2016 ALTA® Commitment for Title Insurance issued by First American Title Insurance Company. Thi s Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I -Requirements; Schedule B, Part II-Exceptions. Copyright 2006-2016 American Land Title Association. All rights reserved. The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association. Form 50004008 (8-23-18) Page 14 of 33 ALTA Commitment for Title Insurance (8-1-16) Colorado A PARCEL OF LAND WITHIN SECTION 33, TOWNSHIP 6 SOUTH, RANGE 88 WEST OF THE 6TH PRINCIPAL MERIDIAN AND BEING FURTHER DESCRIBED AS: COMMENCING AT THE TRUE POINT OF BEGINNING, WHENCE THE CENTER OF SECTION 33, BEING A 2-1/2-INCH ALUMINUM CAP, BEARS N 88°27'45" W A DISTANCE OF 123.09 FEET; THENCE N 00°00'00" E A DISTANCE OF 1398.31 FEET; THENCE S 90°00'00" E A DISTANCE OF 942.50 FEET; THENCE S 00°04'09" E A DISTANCE OF 680.56 FEET; THENCE S 34°36'11" E A DISTANCE OF 919.80 FEET TO A POINT ON THE SOUTH LINE OF THE SOUTHEAST QUARTER OF THE NORTHEAST QUARTER OF SAID SECTION 33; THENCE N 88°27'45" W A DISTANCE OF 333.30 FEET ALONG THE SAID SOUTH LINE TO THE CENTER EAST SIXTEENTH CORNER OF SAID SECTION 33 BEING A 2-1/2-INCH ALUMINUM CAP; THENCE N 88°27'45" W A DISTANCE OF 1132.90 FEET ALONG THE SOUTH LINE OF THE SOUTHWEST QUARTER OF THE NORTHEAST OF SAID SECTION 33 TO THE POINT OF BEGINNING. SAID PARCELS 1, 2 AND 3 BEING ALSO DESCRIBED AS: A PARCEL OF LAND LOCATED IN SECTIONS 14, 15, 16, 20, 21, 22, 23, 26, 27, 28, 29, 32, 33, AND 34, TOWNSHIP 6 SOUTH, RANGE 88 WEST, SIXTH PRINCIPAL MERIDIAN BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: BEGINNING AT THE NORTHWEST CORNER OF SAID SECTION 20 BEING A 2-INCH ALUMINUM CAP (P.E.L.S. 5933); THENCE S 88°16'08" E 2627.19 FEET ALONG THE NORTH LINE OF SAID SECTION 20 TO THE NORTH QUARTER CORNER OF SAID SECTION 20 BEING A 2-INCH ALUMINUM CAP (P.E.L.S. 5933); THENCE S 88°15'48" E 2625.91 FEET ALONG THE NORTH LINE OF SAID SECTION 20 TO THE NORTHEAST CORNER OF SAID SECTION 20 BEING A 2-1/2 INCH GLO BRASS CAP FOUND IN PLACE SAID CORNER ALSO BEING ON THE WEST LINE OF SAID SECTION 16; THENCE N 00°00'14" W 2631.77 FEET ALONG THE WEST LINE OF SAID SECTION 16 TO THE EAST QUARTER CORNER OF SECTION 17, T. 6 S., R. 88 W., 6TH P.M. BEING A 2-1/2 INCH GLO BRASS CAP FOUND IN PLACE; THENCE N 00°08'04" W 340.70 FEET CONTINUING ALONG THE WEST LINE OF SAID SECTION 16 TO THE WEST QUARTER CORNER OF SAID SECTION 16 BEING A 2-1/2 INCH GLO BRASS CAP FOUND IN PLACE; THENCE N 00°01'47" E 1047.99 FEET CONTINUING ALONG THE WEST LINE OF SAID SECTION 16 TO THE SOUTHWEST CORNER OF A PARCEL OF LAND DESCRIBED IN BOOK 795, PAGE 980 IN THE OFFICE OF THE GARFIELD COUNTY CLERK AND RECORDER; THENCE THE FOLLOWING THREE COURSES ALONG THE BOUNDARY OF SAID PARCEL DESCRIBED IN BOOK 795, PAGE 980: 1. THENCE N 89°16'47" E 334.10 FEET; 2. THENCE N 03°35'47" E 252.06 FEET; 3. THENCE N 86°27'52" W 349.87 FEET TO A POINT ON THE WEST LINE OF SAID SECTION 16; THENCE N 00°01'47" E 977.15 FEET ALONG THE WEST LINE OF SAID SECTION 16 TO THE NORTHEAST CORNER OF SAID SECTION 17 BEING A 2-1/2 INCH GLO BRASS CAP FOUND IN PLACE; THENCE N 00°01'20" W 344.80 FEET CONTINUING ALONG THE WEST LINE OF SAID SECTION 16 TO THE NORTHWEST CORNER OF SAID SECTION 16 BEING A 2-1/2 INCH GLO BRASS FOUND IN PLACE; THENCE N 89°57'15" E 2703.26 FEET ALONG THE NORTH LINE OF SAID SECTION 16 TO THE NORTH QUARTER OF SAID SECTION 16 BEING A 2-1/2 INCH GLO BRASS CAP FOUND IN PLACE; THENCE N 89°57'09" E 2637.87 FEET CONTINUING ALONG THE NORTH LINE OF SAID SECTION 16, TO THE NORTHEAST CORNER OF SAID SECTION 16 BEING A 2-1/2 INCH GLO BRASS CAP FOUND IN PLACE; THENCE N 89°58'17" E 2638.56 FEET ALONG THE NORTH LINE OF SAID SECTION 15 TO THE NORTH QUARTER CORNER OF SAID SECTION 15 BEING A 2-1/2 INCH GLO BRASS CAP FOUND IN PLACE; THENCE S 89°59'36" E 1318.31 FEET CONTINUING ALONG THE NORTH LINE OF SAID SECTION 15 TO THE WEST LINE OF THE NE1/4NE1/4 OF SAID SECTION 15 BEING A 3-INCH ALUMINUM CAP (L.S. 15710) FOUND IN PLACE WHENCE THE NORTHEAST CORNER OF SAID SECTION 15 BEING A 2-1/2 INCH GLO BRASS CAP FOUND IN PLACE BEARS S 89°59'36" E 1318.31 FEET; THENCE S 00°00'09" E 1312.36 FEET ALONG THE WEST LINE OF THE NE1/4NE1/4 OF SAID SECTION 15 TO THE SOUTHWEST CORNER OF THE NE1/4NE1/4 OF SAID SECTION 15 BEING A 3-INCH ALUMINUM CAP (L.S. 15710) FOUND IN PLACE; THENCE N 89°55'46" E 1317.67 FEET ALONG THE SOUTH LINE OF THE NE1/4NE1/4 OF SAID SECT ION 15 TO THE SOUTHEAST CORNER OF THE NE1/4NE1/4 OF SAID SECTION 15 BEING A 3-INCH ALUMINUM CAP (L.S. 15710) FOUND IN PLACE; THENCE S 89°58'46" E 1320.64 FEET ALONG THE NORTH LINE OF THE SW1/4NW1/4 OF SAID SECTION 14 TO THE NORTHEAST This page is only a part of a 2016 ALTA® Commitment for Title Insurance issued by First American Title Insurance Company. Thi s Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I -Requirements; Schedule B, Part II-Exceptions. Copyright 2006-2016 American Land Title Association. All rights reserved. The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association. Form 50004008 (8-23-18) Page 15 of 33 ALTA Commitment for Title Insurance (8-1-16) Colorado CORNER OF THE SW1/4NW1/4 OF SAID SECTION 14 BEING A 3-INCH ALUMINUM CAP (L.S. 15710) FOUND IN PLACE; THENCE S 00°01'34" W 1312.94 FEET ALONG THE EAST LINE OF THE SW1/4NW1/4 OF SAID SECTION 14 TO THE SOUTHEAST CORNER OF THE SW1/4NW1/4 OF SAID SECTION 14 BEING A 2-INCH ALUMINUM CAP (P.E.L.S. 5933); THENCE S 00°01'19" E 2647.58 FEET ALONG THE EAST LINE OF THE W1/2SW1/4 OF SAID SECTION 14 TO THE SOUTHEAST CORNER OF THE W1/2SW1/4 OF SAID SECTION 14 BEING A 2 -INCH ALUMINUM CAP (P.E.L.S. 5933); THENCE S 89°59'40" E 1318.39 FEET ALONG THE NORTH LINE OF SAID SECTION 23 TO THE NORTH QUARTER CORNER OF SAID SECTION 23 BEING A 2-1/2 INCH GLO BRASS CAP FOUND IN PLACE; THENCE S 00°05'23" E 5377.46 FEET ALONG THE EAST LINE OF THE W1/2 OF SAID SECTION 23 TO THE SOUTH QUARTER CORNER OF SAID SECTION 23 BEING A 2-1/2 INCH GLO BRASS CAP FOUND IN PLACE; THENCE S 00°00'49" W 5529.94 FEET ALONG THE EAST LINE OF THE W1/2 OF SAID SECTION 26 TO THE SOUTH QUARTER CORNER OF SAID SECTION 26 BEING A 2 -1/2 INCH GLO BRASS CAP FOUND IN PLACE; THENCE S 84°59'30" W 31.37 FEET ALONG THE SOUTH LINE OF SAID SECTION 26 TO THE NORTH QUARTER CORNER OF SECTION 35, T. 6 S., R. 88 W., 6TH P.M., BEING A 2-1/2 INCH GLO BRASS CAP FOUND IN PLACE; THENCE S 84°41'15" W 1292.34 FEET ALONG THE SOUTH LINE OF SAID SECTION 26 TO THE SOUTHEAST CORNER OF LOT 14 OF SAID SECTION 26 BEING A 2-INCH ALUMINUM CAP (P.E.L.S. 5933); THENCE N 00°21'37" E 372.49 FEET ALONG THE EAST LINE OF SAID LOT 14, SECTION 26 TO THE NORTHEAST CORNER OF SAID LOT 14 BEING A 2-INCH ALUMINUM CAP (P.E.L.S. 5933); THENCE N 89°53'31" W 1611.72 FEET ALONG THE NORTH LINE OF SAID LOT 14 TO THE NORTHWEST CORNER OF SAID LOT 14 BEING A 2-INCH ALUMINUM CAP (P.E.L.S. 5933); THENCE S 00°00'14" W 525.17 FEET ALONG THE WEST LINE OF SAID LOT 14 TO THE SOUTHWEST CORNER OF SAID SECTION 26 BEING A 2-1/2 INCH GLO BRASS CAP FOUND IN PLACE; THENCE N 89°14'59" W 2647.44 FEET ALONG THE SOUTH LINE OF SAID SECTION 27 TO THE SOUTH QUARTER CORNER OF SAID SECTION 27 BEING A 2-1/2 GLO BRASS CAP FOUND IN PLACE; THENCE N 89°17'11" W 1319.72 FEET ALONG THE NORTH LINE OF SAID SECTION 34 TO THE NORTHEAST CORNER OF THE W1/2NW1/4 OF SAID SECTION 34 BEING A 2 -INCH ALUMINUM CAP (P.E.L.S 5933) WHENCE THE NORTHWEST CORNER OF SAID SECTION 34 BEING A 2-1/2-INCH GLO BRASS CAP FOUND IN PLACE BEARS N 89°17'11" W 1319.72 FEET, THENCE S 00°05'58" E 2466.04 FEET ALONG THE EAST LINE OF THE W1/2NW1/4 OF SAID SECTION 34 TO THE SOUTHEAST CORNER OF THE W1/2NW1/4 OF SAID SECTION 34 BEING A 2-INCH ALUMINUM CAP (P.E.L.S. 5933); THENCE S 89°51'39" W 1389.27 FEET ALONG THE SOUTH LINE OF THE W1/2NW1/4 OF SAID SECTION 34 TO THE WEST QUARTER CORNER OF SAID SECTION 34 BEING A 2-INCH ALUMINUM CAP (P.E.L.S 5933); THENCE N 88°27'45" W 2511.99 FEET ALONG THE SOUTH LINE OF THE NE1/4 OF SAID SECTION 33 TO THE CENTER QUARTER CORNER OF SAID SECTION 33 BEING A 3 INCH ALUMINUM CAP (COUNTY SURVEYOR) FOUND IN PLACE; THENCE N 88°27'28" W 1112.41 FEET ALONG THE SOUTH LINE OF LOT 6, OF SAID SECTION 33 TO THE SOUTHWEST CORNER OF SAID LOT 6 BEING A 3 INCH ALUMINUM CAP (COUNTY SURVEYOR) FOUND IN PLACE ; THENCE N 01°26'25" E 838.15 FEET ALONG THE WEST LINE OF SAID LOT 6 TO THE SOUTHEAST CORNER OF LOT 5 OF SAID SECTION 33 BEING A 3 INCH ALUMINUM CAP (COUNTY SURVEYOR) FOUND IN PLACE; THENCE N 89°14'27" W 1072.10 FEET ALONG THE SOUTH LINE OF SAID LOT 5 TO A POINT ON THE NORTHERLY RIGHT-OF-WAY OF GARFIELD COUNTY ROAD 119; THENCE THE FOLLOWING SEVENTEEN COURSES ALONG THE NORTHERLY RIGHT -OF-WAY OF SAID COUNTY ROAD 119: 1. THENCE ALONG THE ARC OF A NON-TANGENT CURVE TO THE LEFT HAVING A RADIUS OF 190.00 FEET, AND A CENTRAL ANGLE OF 38°53'15" FOR A DISTANCE ALONG THE CURVE OF 128.96 FEET; THE CHORD OF SAID CURVE BEARS N 70°21'49" W A DISTANCE OF 126.50 FEET; 2. THENCE N 89°48'27" W 335.07 FEET TO A POINT ON THE WEST LINE OF SAID SECTION 33 WHENCE THE NORTHWEST CORNER OF SAID SECTION 33 BEING A 3-INCH COUNTY SURVEYOR'S ALUMINUM CAP FOUND IN PLACE BEARS N 01°14'21" E 1729.72 FEET; 3. THENCE N 89°48'27" W 746.63 FEET; 4. THENCE ALONG THE ARC OF A CURVE TO THE RIGHT HAVING A RADIUS OF 9975.00 FEET, AND A CENTRAL ANGLE OF 01°23'23" FOR A DISTANCE OF ALONG THE CURVE OF 241.95 FEET; THE CHORD OF SAID CURVE BEARS N 89°06'46" W A DISTANCE OF 241.94 FEET; 5. THENCE N 88°25'04" W 886.82 FEET; 6. THENCE ALONG THE ARC OF A CURVE TO THE RIGHT HAVING A RADIUS OF 30.00 FEET, AND A CENTRAL ANGLE OF 101°43'17" FOR A DISTANCE ALONG THE CURVE OF 53.26 FEET, THE CHORD OF SAID CURVE BEARS N 37°33'26" W A DISTANCE OF 46.54 FEET; 7. THENCE N 13°18'13" E 1531.48 FEET; 8. THENCE ALONG THE ARC OF A CURVE TO THE LEFT HAVING A RADIUS OF 715.00 F EET, AND A CENTRAL ANGLE OF 15°55'12" FOR A DISTANCE ALONG THE CURVE OF 198.67 FEET; THE CHORD OF SAID CURVE BEARS N 05°20'37" E A DISTANCE OF 198.03 FEET TO A POINT ON THE SOUTH LINE OF SAID SECTION 29 WHENCE THE SOUTHEAST CORNER OF SAID SECTION 29 BEARS S 89°03'23" E 1570.16 FEET; This page is only a part of a 2016 ALTA® Commitment for Title Insurance issued by First American Title Insurance Company. Thi s Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I -Requirements; Schedule B, Part II-Exceptions. Copyright 2006-2016 American Land Title Association. All rights reserved. The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association. Form 50004008 (8-23-18) Page 16 of 33 ALTA Commitment for Title Insurance (8-1-16) Colorado 9. THENCE ALONG THE ARC OF A CURVE TO THE LEFT HAVING A RADIUS OF 715.00 FEET, AND A CENTRAL ANGLE OF 29°05'27" FOR A DISTANCE ALONG THE CURVE OF 363.03 FEET; THE CHORD OF SAID CURVE BEARS N 17°09'43" W A DISTANCE OF 359.14 FEET; 10. THENCE ALONG THE ARC OF A CURVE TO THE LEFT HAVING A RADIUS OF 1853.11 FEET, AND A CENTRAL ANGLE OF 14°56'46" FOR A DISTANCE ALONG THE CURVE OF 483.40 FEET; THE CHORD OF SAID CURVE BEARS N 39°10'49" W A DISTANCE OF 482.03 FEET; 11. THENCE N 46°39'12" W 512.11 FEET; 12. THENCE ALONG THE ARC OF A CURVE TO THE LEFT HAVING A RADIUS OF 544.29 FEET, AND A CENTRAL ANGLE OF 29°19'12" FOR A DISTANCE ALONG THE CURVE OF 278.53 FEET; THE CHORD OF SAID CURVE BEARS N 61°18'49" W A DISTANCE OF 275.50 FEET; 13. THENCE N 75°58'25" W 274.72 FEET; 14. THENCE ALONG THE ARC OF A CURVE TO THE RIGHT HAVING A RADIUS OF 777.56 FEET, AND A CENTRAL ANGLE OF 10°01'45" FOR A DISTANCE ALONG THE CURVE OF 136.11 FEET; THE CHORD OF SAID SAID CURVE BEARS N 70°57'32" W A DISTANCE OF 135.93 FEET; 15. THENCE N 65°56'40" W 288.79 FEET; 16. THENCE ALONG THE ARC OF A CURVE TO THE RIGHT HAVING A RADIUS OF 934.49 FEET, AND A CENTRAL ANGLE OF 12°43'09" FOR A DISTANCE ALONG THE CURVE OF 207.45 FEET; THE CHORD OF SAID CURVE BEARS N 59°35'05" W A DISTANCE OF 207.03 FEET; 17. THENCE N 53°13'30" W 363.38 FEET TO A POINT ON THE WEST LINE OF LOT 26 OF SAID SECTION 29; THENCE N 00°30'27" E 619.90 FEET ALONG THE WEST LINE OF SAID LOT 26 TO THE NORTHWEST CORNER OF SAID LOT 26; THENCE N 90°00'00" W 65.41 FEET TO A FENCE POST WITH A PK-NAIL IN THE TOP AND ACCEPTED AS THE SOUTHWEST CORNER OF LOT 20 OF SAID SECTION 29; THENCE N 00°34'26" E 2165.03 FEET ALONG THE ACCEPTED WEST LINE OF LOTS 20, 16, AND 8 OF SAID SECTION 29 TO A RED PLASTIC CAP (P.L.S. 27929); THE NCE N 00°32'35" E 431.30 FEET TO THE SOUTHWEST CORNER OF A PARCEL OF LAND DESCRIBED IN BOOK 527, PAGE 951 IN THE OFFICE OF THE GARFIELD COUNTY CLERK AND RECORDER; THENCE ALONG THE SOUTHERLY BOUNDARY OF SAID PARCEL OF LAND DESCRIBED IN BOOK 527, PAGE 951 S 89°32'20" E 431.36 FEET; THENCE THE FOLLOWING TWO COURSES ALONG THE SOUTHERLY BOUNDARY OF A PARCEL OF LAND DESCRIBED IN BOOK 872, PAGE 768 IN THE OFFICE OF THE GARFIELD COUNTY CLERK AND RECORDER: 1. THENCE S 50°51'48" E 497.50 FEET; 2. THENCE S 57°58'21" E 57.39 FEET TO A POINT ON THE SOUTHERLY BOUNDARY OF A PARCEL OF LAND DESCRIBED IN BOOK 915, PAGE 112 IN THE OFFICE OF THE GARFIELD COUNTY AND RECORDER; THENCE S 57°58'21" E 305.00 FEET ALONG THE SOUTHERLY BOUNDARY OF SAID PARCEL OF LAND DESCRIBED IN BOOK 915, PAGE 112; THENCE S 33°33'03" E 149.53 FEET ALONG THE SOUTHWESTERLY BOUNDARY OF A PARCEL OF LAND DESCRIBED IN BOOK 621, PAGE 219 IN THE OFFICE OF THE GARFIELD COUNTY CLERK AND RECORDER; THENCE S 81°36'23" E 135.95 FEET ALONG THE SOUTHERLY BOUNDARIES OF PARCELS OF LAND DESCRIBED IN BOOK 621, PAGE 219 AND BOOK 965, PAGE 509 IN THE OFFICE THE GARFIELD COUNTY CLERK AND RECORDER TO A POINT ON THE BOUNDARY OF SAID PARCEL OF LAND DESCRIBED IN BOOK 965, PAGE 509; THENCE THE FOLLOWING THREE COURSES ALONG THE SOUTHEASTERLY BOUNDARY OF SAID PARCEL DESCRIBED IN BOOK 965, PAGE 509: 1. THENCE S 81°42'23" E 302.25 FEET; 2. THENCE N 05°12'20" E 149.94 FEET; 3. THENCE ALONG THE ARC OF A CURVE TO THE RIGHT HAVING A RADIUS OF 55.23 FEET, AND A CENTRAL ANGLE OF 40°33'24" FOR A DISTANCE ALONG THE CURVE OF 39.09 FEET; THE CHORD OF SAID CURVE BEARS N 25°28'41" E A DISTANCE OF 38.28 FEET TO A POINT ON THE SOUTHERLY OF A PARCEL OF LAND DESCRIBED IN BOOK 808, PAGE 803 IN THE OFFICE OF THE GARFIELD COUNTY CLERK AND RECORDER; THENCE THE FOLLOWING THREE COURSES ALONG THE EASTERLY BOUNDARY OF SAID PARCEL DESCRIBED IN BOOK 808, PAGE 803: 1. THENCE S 81°42'37" E 123.19 FEET; 2. THENCE N 21°00'23" W 820.84 FEET TO A POINT ON THE SOUTH LINE OF SAID SECTION 20 WHENCE THE SOUTH QUARTER CORNER OF SAID SECTION 20 BEING A 2-INCH ALUMINUM CAP (P.E.L.S. 5933) BEARS N 88°32'13" W 248.98 FEET; 3. THENCE N 21°00'23" W 137.24 FEET TO A POINT ON THE NORTHERLY RIGHT -OF-WAY OF GARFIELD COUNTY ROAD 115; THENCE THE FOLLOWING TWO COURSES ALONG THE NORTHERLY RIGHT-OF-WAY OF SAID COUNTY ROAD 115: 1. THENCE ALONG THE ARC OF A NON-TANGENT CURVE TO THE RIGHT HAVING A RADIUS OF 5288.82 FEET, AND A CENTRAL ANGLE OF 02°43'04" FOR A DISTANCE ALONG THE CURVE OF 250.87 FEET; THE CHORD OF SAID CURVE BEARS N 73°59'48" W A DISTANCE OF 250.84 FEET; This page is only a part of a 2016 ALTA® Commitment for Title Insurance issued by First American Title Insurance Company. Thi s Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I -Requirements; Schedule B, Part II-Exceptions. Copyright 2006-2016 American Land Title Association. All rights reserved. The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association. Form 50004008 (8-23-18) Page 17 of 33 ALTA Commitment for Title Insurance (8-1-16) Colorado 2. THENCE N 72°38'16" W 1244.87 FEET TO A POINT ON THE ACCEPTED EAST LINE OF LOT 4 OF SAID SECTION 20 WHENCE THE SOUTHEAST CORNER OF A PARCEL OF LAND RECORDED UNDER RECEPTION NUMBER 467225 IN THE OFFICE OF THE GARFIELD COUNTY CLERK AND RECORDER AND BEING A 2-INCH ALUMINUM CAP (P.E.L.S. 5933) AND ACCEPTED AS A POINT ON THE EAST LINE OF SAID LOT 4 BEARS S 01°51'02" W 9.41 FEET; THENCE N 01°51'02" E 490.79 FEET ALONG THE ACCEPTED EAST LINE OF SAID LOT 4 TO THE NORTHEAST CORNER OF SAID LOT 4 BEING A 2-INCH ALUMINUM CAP (P.E.L.S. 5933); THENCE N 88°18'52" W 1429.59 FEET ALONG THE NORTH LINE OF SAID LOT 4 AND LOT 3 OF SAID SECTION 20 TO THE NORTHWEST CORNER OF SAID LOT 3 BEING A 2 -INCH ALUMINUM CAP (P.E.L.S. 5933) WHENCE THE SOUTHWEST CORNER OF SAID LOT 20 BEING A 2-1/2 INCH ALUMINUM CAP (P.L.S. 27929) FOUND IN THE PLACE BEARS S 00°06'31" E 1008.11 FEET; THENCE N 00°06'31" W 1630.93 FEET ALONG THE WEST LINE OF SAID SECTION 20 TO THE WEST CORNER OF SAID SECTION 20 BEING A 2 -INCH ALUMINUM CAP (P.E.L.S. 5933); THENCE N 00°04'12" E 2632.88 FEET ALONG THE WEST LINE OF SAID SECTION 20 TO THE NORTHWEST CORNER OF SAID SECTION 20 TO THE NORTHWEST CORNER OF SAID SECTION 20 BEING THE POINT OF BEGINNING EXCEPTING THEREFROM THE FOLLOWING FIVE PARCELS: 1) MIDDLE EXCEPTION PARCEL LEGAL DESCRIPTION A PARCEL OF LAND LOCATED IN THE EAST HALF OF SECTION 29 AND THE NORTHWEST QUARTER OF SECTION 28, TOWNSHIP 6 SOUTH, RANGE 88 WEST, OF THE SIXTH PRINCIPAL MERIDIAN, SAID PARCEL BEING FURTHER DESCRIBED AS FOLLOWS: BEGINNING AT A POINT ON THE EASTERLY LINE OF SAID SECTION 29 WHENCE THE NORTHEAST CORNER OF SECTION 29 BEING A 2-1/2 INCH GLO BRASS CAP FOUND IN PLACE BEARS N 01°09'28" E 1250.72 FEET THENCE S 01°09'28" W 346.34 FEET ALONG THE EAST LINE OF SAID SECTION 29 TO A POINT ON THE NORTHERLY LINE OF A PARCEL OF LAND DESCRIBED IN BOOK 495, PAGE 596 IN THE OFFICE OF THE GARFIELD COUNTY CLERK AND RECORDER, WHENCE THE WEST QUARTER CORNER OF SAID SECTION 28 BEING A 3 INCH ALUMINUM CAP (COUNTY SURVEYOR) BEARS S 01°09'28" E 987.24 FEET; THENCE S 88°09'03" E 557.11 FEET ALONG THE NORTHERLY LINE OF SAID PARCEL OF LAND DESCRIBED IN BOOK 495, PAGE 596 TO A POINT ON THE SOUTHERLY RIGHT-OF-WAY LINE OF GARFIELD COUNTY ROAD 115; THENCE ALONG THE ARC OF A NON-TANGENT CURVE TO THE LEFT HAVING A RADIUS OF 826.12 FEET, AND A CENTRAL ANGLE OF 17°50'11" FOR A DISTANCE ALONG THE CURVE OF 257.17 FEET; THE CHORD OF SAID CURVE BEARS S 64°07'08" E A DISTANCE OF 256.14 FEET ALONG THE SOUTHERLY RIGHT-OF-WAY OF SAID COUNTY ROAD 115; THENCE S 73°02'14" E 43.18 FEET CONTINUING ALONG THE SOUTHERLY RIGHT-OF-WAY LINE OF SAID COUNTY ROAD 115 TO A POINT IN THE EASTERLY LINE OF SAID PARCEL OF LAND DESCRIBED IN BOOK 495, PAGE 596; THENCE S 00°01'52" W 114.31 FEET ALONG THE EASTERLY BOUNDARY OF SAID P ARCEL OF LAND DESCRIBED IN BOOK 495, PAGE 596 TO THE SOUTHEAST CORNER OF SAID PARCEL OF LAND DESCRIBED IN BOOK 495, PAGE 596; THENCE THE FOLLOWING FOUR COURSES ALONG THE SOUTHERLY BOUNDARY OF SAID PARCEL OF LAND DESCRIBED IN BOOK 495, PAGE 596: 1. THENCE N 89°58'08" W 327.05 FEET; 2. THENCE S 54°10'41" W 185.54 FEET; 3. THENCE N 42°16'19" W 154.20 FEET; 4. THENCE S 59°30'35" W 216.33 FEET TO A POINT ON THE BOUNDARY OF A PARCEL OF LAND DESCRIBED IN BOOK 988, PAGE 802 IN THE OFFICE OF THE GARFIELD COUNTY CLERK AND RECORDER; THENCE THE FOLLOWING SIX COURSES AROUND THE EASTERLY, NORTHERLY, AND SOUTHERLY BOUNDARIES OF SAID PARCEL OF LAND DESCRIBED IN BOOK 988, PAGE 802: 1. THENCE S 13°45'40" E 111.74 FEET; 2. THENCE S 89°58'08" E 101.60 FEET; 3. THENCE S 00°01'52" W 69.06 FEET; 4. THENCE S 88°48'28" E 25.57 FEET; 5. THENCE S 00°37'24" E 148.37 FEET; 6. THENCE S 14°45'31" E 57.78 FEET; THENCE S 58°03'40" W 625.36 FEET ALONG THE SOUTHERLY BOUNDARIES OF PARCELS OF LAND DESCRIBED IN BOOK This page is only a part of a 2016 ALTA® Commitment for Title Insurance issued by First American Title Insurance Company. Thi s Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I -Requirements; Schedule B, Part II-Exceptions. Copyright 2006-2016 American Land Title Association. All rights reserved. The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association. Form 50004008 (8-23-18) Page 18 of 33 ALTA Commitment for Title Insurance (8-1-16) Colorado 988, PAGE 802 AND BOOK 736, PAGE 345 IN THE OFFICE OF THE GARFIELD COUNTY CLERK AND RECORDER TO A POINT ON THE SOUTHERLY BOUNDARY OF SAID PARCEL OF LAND DESCRIBED IN BOOK 736, PAGE 345; THENCE ALONG THE SOUTHERLY AND WESTERLY BOUNDARIES OF SAID PARCEL OF LAND DESCRIBED IN BOOK 736, PAGE 345 THE FOLLOWING FIVE COURSES: 1. THENCE N 74°53'28" W 35.87 FEET; 2. THENCE N 66°59'35" W 380.19 FEET; 3. THENCE N 50°53'55" W 27.02 FEET; 4. THENCE N 25°54'08" W 19.09 FEET; 5. THENCE N 05°08'09" W 580.16 FEET TO A POINT ON THE WESTERLY BOUNDARY OF A PARCEL OF LAND DESCRIBED IN BOOK 886, PAGE 329 IN THE OFFICE OF THE GARFIELD COUNTY CLERK AND RECORDER; THENCE ALONG THE WESTERLY AND NORTHERLY BOUNDARIES OF SAID PARCEL OF LAND DESCRIBED IN BOOK 886, PAGE 329 THE FOLLOWING THREE COURSES: 1. THENCE N 05°36'42" W 538.91 FEET; 2. THENCE N 04°18'35" W 374.95 FEET; 3. THENCE N 82°52'22" E 323.76 FEET TO A POINT ON THE SOUTHERLY RIGHT-OF-WAY LINE OF SAID GARFIELD COUNTY ROAD 115; THENCE ALONG THE SAID RIGHT-OF-WAY LINE THE FOLLOWING THREE COURSES: 1. THENCE ALONG THE ARC OF A NON-TANGENT CURVE TO THE LEFT HAVING A RADIUS OF 993.47 FEET, AND A CENTRAL ANGLE OF 03°01'08" FOR A DISTANCE ALONG THE CURVE OF 52.35 FEET; THE CHORD OF SAID CURVE BEARS S 34°41'10" E A DISTANCE OF 52.34 FEET; 2. THENCE ALONG THE ARC OF A CURVE TO THE LEFT HAVING A RADIUS OF 480.00 FEET, AND A CENTRAL ANGLE OF 36°06'40" FOR A DISTANCE OF ALONG THE CURVE OF 302.52 FEET; THE CHORD OF SAID CURVE BEARS S 54°15'04" E A DISTANCE OF 297.54 FEET; 3. THENCE S 72°18'24" E 273.90 FEET TO THE POINT OF BEGINNING. 2) EAST EXCEPTION PARCEL LEGAL DESCRIPTION A PARCEL OF LAND LOCATED IN SECTION 28, TOWNSHIP 6 SOUTH, RANGE 88 WEST, OF THE SIXTH PRINCIPAL MERIDIAN BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: BEGINNING AT THE SOUTH QUARTER CORNER OF SECTION 28 BEING A 2-INCH ALUMINUM CAP (P.E.L.S. 5933); THENCE N 88°33'15" W 1084.24 FEET ALONG THE SOUTH LINE OF SECTION 28 TO A POINT ON THE WESTERLY BOUNDARY OF A PARCEL OF LAND DESCRIBED IN BOOK 938, PAGE 691 IN THE OFFICE OF THE GARFIELD COUNTY CLERK AND RECORDER; WHENCE THE SOUTHWEST CORNER OF SECTION 28 BEING A 3 INCH COUNTY SURVEYOR ALUMINUM CAP FOUND IN PLACE BEARS S 88°33'15" E 1495.74 FEET; THENCE N 01°00'28" E 2568.63 FEET ALONG THE WESTERLY BOUNDARY OF SAID PARCEL OF LAND DESCRIBED IN BOOK 938, PAGE 691 TO A POINT ON THE WESTERLY BOUNDARY OF A PARCEL OF LAND DESCRIBED IN BOOK 638, PAGE 941 IN THE OFFICE OF THE GARFIELD COUNTY CLERK AND RECORDER; THENCE N 01°01'12" E 691.65 FEET ALONG THE WESTERLY BOUNDARY OF SAID PARCEL OF LAND DESCRIBED IN BOOK 638, PAGE 941 TO A POINT ON THE SOUTHERLY RIGHT-OF-WAY LINE OF GARFIELD COUNTY ROAD 115; THENCE ALONG THE SOUTHERLY RIGHT-OF-WAY LINE OF SAID COUNTY ROAD 115 THE FOLLOWING SEVEN COURSES: 1. ALONG THE ARC OF A NON-TANGENT CURVE TO THE RIGHT HAVING A RADIUS OF 594.56 FEET, AND A CENTRAL ANGLE OF 41°58'28" FOR A DISTANCE ALONG THE CURVE OF 435.57 FEET; THE CHORD OF SAID CURVE BEARS S 43°10'12" E A DISTANCE OF 425.90 FEET; 2. THENCE S 22°10'58" E 307.62 FEET; 3. THENCE ALONG THE ARC OF A CURVE TO THE LEFT HAVING A RADIUS OF 1421.75 FEET, AND A CENTRAL ANGLE OF 15°49'57" FOR A DISTANCE ALONG THE CURVE OF 392.87 FEET; THE CHORD OF SAID CURVE BEARS S 30°05'57" E A DISTANCE OF 391.63 FEET; 4. THENCE ALONG THE ARC OF A CURVE TO THE RIGHT HAVING A RADIUS OF 370.00 FEET, AND A CENTRAL ANGLE OF 32°43'14" FOR A DISTANCE ALONG THE CURVE OF 211.30 FEET; THE CHORD OF SAID CURVE BEARS S 21°39'19" E A DISTANCE OF 208.44 FEET; 5. THENCE ALONG THE ARC OF A CURVE TO THE LEFT HAVING A RADIUS OF 2437.42 FEET, AND A CENTRAL ANGLE OF 28°42'24" FOR A DISTANCE ALONG THE CURVE OF 1221.22 FEET; THE CHORD OF SAID CURVE BEARS S 19°38'54" E A DISTANCE OF 1208.48 FEET; This page is only a part of a 2016 ALTA® Commitment for Title Insurance issued by First American Title Insurance Company. Thi s Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I -Requirements; Schedule B, Part II-Exceptions. Copyright 2006-2016 American Land Title Association. All rights reserved. The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association. Form 50004008 (8-23-18) Page 19 of 33 ALTA Commitment for Title Insurance (8-1-16) Colorado 6. THENCE S 34°00'16" E 1152.91 FEET; 7. THENCE ALONG THE ARC OF A CURVE TO THE LEFT HAVING A RADIUS OF 430.00 FEET, AND A CENTRAL ANGLE OF 23°03'17" FOR A DISTANCE ALONG THE CURVE OF 173.02 FEET; THE CHORD OF SAID CURVE BEARS S 45°31'45" E A DISTANCE OF 171.86 FEET TO A POINT ON THE SOUTH LINE OF SECTION 28; WHENCE THE SOUTHEAST CORNER OF SECTION 28 BEING A 2-1/2 INCH GLO BRASS CAP FOUND IN PLACE BEARS S 86°11'17" E 1745.44 FEET; THENCE N 86°11'17" W 829.99 FEET ALONG THE SOUTH LINE OF SECTION 28 TO THE POINT OF BEGINNING. 3) SECTION 15 EXCEPTION PARCEL LEGAL DESCRIPTION A PARCEL OF LAND BEING THE NORTHWEST QUARTER OF THE SOUTHWEST QUARTER OF SECTION 15, TOWNSHIP 6 SOUTH RANGE 88 WEST, OF THE SIXTH PRINCIPAL MERIDIAN, SAID PARCEL BEING FURTHER DESCRIBED AS FOLLOWS: BEGINNING AT THE WEST QUARTER CORNER OF SAID SECTION 15 BEING A 2 -1/2 INCH GLO BRASS CAP FOUND IN PLACE, THENCE N 89°51'07" E 1323.59 FEET ALONG THE NORTH LINE OF THE NW1/4SW1/4 OF SAID SECTION 15 TO THE NORTHEAST CORNER OF THE NW1/4SW1/4 OF SAID SECTION 15; THENCE S 00°01'49" E 1540.50 FEET ALONG THE EAST LINE OF THE NW1/4SW1/4 OF SAID SECTION 15 TO THE SOUTHEAST CORNER OF THE NW1/4SW1/4; THENCE S 89°58'25" W 1323.59 FEET ALONG THE SOUTH LINE OF THE NW1/4SW1/4 OF SAID SECTION 15 TO THE SOUTHWEST CORNER OF THE NW1/4SW1/4 OF SAID SECTION 15; WHENCE THE SOUTHWEST CORNER OF SAID SECTION 15 BEING A 2-1/2 INCH GLO BRASS CAP FOUND IN PLACE BEARS S 00°01'49" E 1537.70 FEET; THENCE N 00°01'49" W 1537.70 FEET ALONG THE WEST LINE OF THE NW1/4SW1/4 OF SAID SECTION 15 TO THE NORTHWEST CORNER OF THE NW1/4SW1/4 OF SAID SECTION 15 BEING THE POINT OF BEGINNING. 4) GARFIELD COUNTY ROAD 115 EXCEPTION PARCEL LEGAL DESCRIPTION A PARCEL OF LAND LOCATED IN SECTIONS 20, 29, 28, 33, AND 34, TOWNSHIP 6 SOUTH, RANGE 88 WEST, OF THE SIXTH PRINCIPAL MERIDIAN, SAID PARCEL BEING A 60 FOOT WIDE RIGHT-OF-WAY EXTENDING THIRTY FEET ON EACH SIDE OF THE FOLLOWING DESCRIBED CENTERLINE FOR GARFIELD COUNTY ROAD 115, SAID CENTERLINE BEING FURTHER DESCRIBED AS FOLLOWS: BEGINNING AT A POINT FROM WHENCE THE SOUTHWEST CORNER OF SAID SECTION 20 BEARS S 89°59'26" W A DISTANCE OF 2853.70 FEET, SAID SECTION CORNER BEING A 2-1/2 INCH ALUMINUM CAP FOUND IN PLACE; THENCE ALONG THE ARC OF A CURVE TO THE LEFT HAVING A RADIUS OF 5318.82 FEET, AND A CENTRAL ANGLE OF 04°16'52" FOR A DISTANCE ALONG THE CURVE OF 397.42 FEET; THE CHORD OF SAID CURVE BEARS S 77°43'40" E A DISTANCE OF 397.32 FEET; THENCE S 73°52'05" E 121.04 FEET TO A POINT ALONG THE SECTION LINE COMMON TO SAID SECTIONS 20 AND 29 FROM WHENCE THE QUARTER CORNER COMMON TO SAID SECTIONS 20 AND 29 BEING A 2 -INCH ALUMINUM CAP BEARS N 88°32'13" W 720.55 FEET; THENCE S 79°52'05" E 331.86 FEET; THENCE ALONG THE ARC OF A CURVE TO THE RIGHT HAVING A RADIUS OF 900.00 FEET, AND A CENTRAL ANGLE OF 20°29'08" FOR A DISTANCE ALONG THE CURVE OF 321.79 FEET; THE CHORD OF SAID CURVE BEARS S 69°37'31" E A DISTANCE OF 320.08 FEET; THENCE S 59°22'57" E 217.30 FEET; THENCE ALONG THE ARC OF A CURVE TO THE RIGHT HAVING A RADIUS OF 1081.34 FEET, AND A CENTRAL ANGLE OF 35°38'00" FOR A DISTANCE ALONG THE CURVE OF 672.50 FEET; THE CHORD OF SAID CURVE BEARS S 41°33'57" E A This page is only a part of a 2016 ALTA® Commitment for Title Insurance issued by First American Title Insurance Company. Thi s Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I -Requirements; Schedule B, Part II-Exceptions. Copyright 2006-2016 American Land Title Association. All rights reserved. The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association. Form 50004008 (8-23-18) Page 20 of 33 ALTA Commitment for Title Insurance (8-1-16) Colorado DISTANCE OF 661.72 FEET; THENCE S 23°44'57" E 73.66 FEET; THENCE ALONG THE ARC OF A CURVE TO THE LEFT HAVING A RADIUS OF 963.47 FEET, AND A CENTRAL ANGLE OF 12°26'47" FOR A DISTANCE ALONG THE CURVE OF 209.29 FEET; THE CHORD OF SAID CURVE BEARS S 29°58'21" E FOR A DISTANCE OF 208.88 FEET; THENCE ALONG THE ARC OF A CURVE TO THE LEFT HAVING A RADIUS OF 450.00 FEET, AND A CENTRAL ANGLE OF 36°06'40" FOR A DISTANCE ALONG THE CURVE OF 283.62 FEET; THE CHORD OF SAID CURVE BEARS S 54°15'04" E A DISTANCE OF 278.95 FEET; THENCE S 72°18'24" E 264.99 FEET TO A POINT ALONG THE SECTION LINE COMMON TO SAID SECTIONS 28 AND 29 FROM WHENCE THE NORTHEAST CORNER OF SAID SECTION 29 BEING A 2-1/2 INCH GLO BRASS CAP FOUND IN PLACE BEARS N 01°09'28" E 1219.42 FEET; THENCE S 72°18'24" E 167.61 FEET; THENCE ALONG THE ARC OF A CURVE TO THE RIGHT HAVING A RADIUS OF 377.41 FEET, AND A CENTRAL ANGLE OF 25°33'14" FOR A DISTANCE ALONG THE CURVE OF 168.32 FEET; THE CHORD OF SAID SAID CURVE BEARS S 59°31'47" E A DISTANCE OF 166.93 FEET; THENCE S 46°45'10" E 235.64 FEET; THENCE ALONG THE ARC OF A CURVE TO THE LEFT HAVING A RADIUS OF 796.12 FEET, AND A CENTRAL ANGLE OF 26°17'03" FOR A DISTANCE ALONG THE CURVE OF 365.22 FEET; THE CHORD OF SAID CURVE BEARS S 59°53'42" E A DISTANCE OF 362.02 FEET; THENCE S 73°02'14" E 636.67 FEET; THENCE ALONG THE ARC OF A CURVE TO THE RIGHT HAVING A RADIUS OF 624.56 FEET, AND A CENTRAL ANGLE OF 50°51'15" FOR A DISTANCE ALONG THE CURVE OF 554.35 FEET; THE CHORD OF SAID CURVE BEARS S 47°36'36" E A DISTANCE OF 536.33 FEET; THENCE S 22°10'58" E 307.62 FEET; THENCE ALONG THE ARC OF A CURVE TO THE LEFT HAVING A RADIUS OF 1391.75 FEET, AND A CENTRAL ANGLE OF 15°49'57" FOR A DISTANCE ALONG THE CURVE OF 384.58 FEET; THE CHORD OF SAID CURVE BEARS S 30°05'57" E A DISTANCE OF 383.36 FEET; THENCE ALONG THE ARC OF A CURVE TO THE RIGHT HAVING A RADIUS OF 400.00 FEET, AND A CENTRAL ANGLE OF 32°43'14" FOR A DISTANCE ALONG THE CURVE OF 228.43 FEET; THE CHORD OF SAID CURVE BEARS S 21°39'19" E A DISTANCE OF 225.34 FEET; THENCE ALONG THE ARC OF A CURVE TO THE LEFT HAVING A RADIUS OF 2407.42 FEET, AND A CENTRAL ANGLE OF 28°42'24" FOR A DISTANCE ALONG THE CURVE OF 1206.18 FEET; THE CHORD OF SAID CURVE BEARS S 19°38'54" E A DISTANCE OF 1193.61 FEET; THENCE S 34°00'06" E 1152.91 FEET; THENCE ALONG THE ARC OF A CURVE TO THE LEFT HAVING A RADIUS OF 400.00 FEET, AND A CENTRAL ANGLE OF 25°53'11" FOR A DISTANCE ALONG THE CURVE OF 180.72 FEET; THE CHORD OF SAID CURVE BEARS S 46°56'42" E A DISTANCE OF 179.19 FEET; THENCE S 59°53'17" E 38.40 FEET TO A POINT ALONG THE SECTION LINE COMMON TO SAID SECTIONS 28 AND 33 This page is only a part of a 2016 ALTA® Commitment for Title Insurance issued by First American Title Insurance Company. Thi s Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I -Requirements; Schedule B, Part II-Exceptions. Copyright 2006-2016 American Land Title Association. All rights reserved. The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association. Form 50004008 (8-23-18) Page 21 of 33 ALTA Commitment for Title Insurance (8-1-16) Colorado FROM WHENCE THE QUARTER CORNER COMMON TO SAID SECTIONS 28 AND 33 BEING A 2 -INCH ALUMINUM CAP BEARS N 86°11'17" W 896.52 FEET; THENCE S 59°53'17" E 421.00 FEET; THENCE ALONG THE ARC OF A CURVE TO THE RIGHT HAVING A RADIUS OF 779.79 FEET, AND A CENTRAL ANGLE OF 35°42'49" FOR A DISTANCE ALONG THE CURVE OF 486.06 FEET; THE CHORD OF SAID CURVE BEARS S 42°01'52" E A DISTANCE OF 478.23 FEET; THENCE S 24°10'27" E 644.62 FEET; THENCE ALONG THE ARC OF A CURVE TO THE RIGHT HAVING A RADIUS OF 882.82 FEET, AND A CENTRAL ANGLE OF 26°58'38" FOR A DISTANCE ALONG THE CURVE OF 415.67 FEET; THE CHORD OF SAID CURVE BEARS S 10°41'09" E A DISTANCE OF 411.84 FEET; THENCE S 02°48'10" W 238.01 FEET; THENCE ALONG THE ARC OF A CURVE TO THE LEFT HAVING A RADIUS OF 729.53 FEET, AND A CENTRAL ANGLE OF 37°41'54" FOR A DISTANCE ALONG THE CURVE OF 480.00 FEET; THE CHORD OF SAID CURVE BEARS S 16°02'47" E A DISTANCE OF 471.39 FEET; THENCE ALONG THE ARC OF A CURVE TO THE LEFT HAVING A RADIUS OF 200.00 FEET, AND A CENTRAL ANGLE OF 53°37'43" FOR A DISTANCE ALONG THE CURVE OF 187.20 FEET; THE CHORD OF SAID CURVE BEARS S 61°42'35" E A DISTANCE OF 180.44 FEET; THENCE ALONG THE ARC OF A CURVE TO THE LEFT HAVING A RADIUS OF 2171.07 FEET, AND A CENTRAL ANGLE OF 08°19'31" FOR A DISTANCE ALONG THE CURVE OF 315.47 FEET; THE CHORD OF SAID CURVE BEARS N 87°18'48" E A DISTANCE OF 315.19 FEET TO A POINT ALONG THE SECTION LINE COMMON TO SAID SECTIONS 33 AND 34 FROM WHENCE THE NORTHEAST CORNER OF SAID SECTION 33 BEING A 2-1/2 INCH GLO BRASS CAP FOUND IN PLACE BEARS N 01°30'32" E 2209.86 FEET; THENCE ALONG THE ARC OF A CURVE TO THE LEFT HAVING A RADIUS OF 2171.07 FEET, AND A CENTRAL ANGLE OF 15°20'11" FOR A DISTANCE ALONG THE CURVE OF 581.13 FEET; THE CHORD OF SAID CURVE BEARS N 75°28'57" E A DISTANCE OF 579.40 FEET; THENCE ALONG THE ARC OF A CURVE TO THE RIGHT HAVING A RADIUS OF 280.00 FEET, AND A CENTRAL ANGLE OF 55°26'50" FOR A DISTANCE ALONG THE CURVE OF 270.97 FEET; THE CHORD OF SAID CURV E BEARS S 84°27'44" E A DISTANCE OF 260.52 FEET; THENCE S 56°44'19" E 393.81 FEET; THENCE ALONG THE ARC OF A CURVE TO THE LEFT HAVING A RADIUS OF 659.07 FEET, AND A CENTRAL ANGLE OF 21°39'21" FOR A DISTANCE ALONG THE CURVE OF 252.89 FEET; THE CHORD OF SAID CURVE BEARS S 67°34'00" E A DISTANCE OF 251.38 FEET FROM WHENCE THE SAID NORTHEAST CORNER OF SECTION 33 BEARS N 28°52'13" W 2741.66 FEET; SUCH PARCEL BEING A 60 FOOT RIGHT-OF-WAY (30 FEET ON EACH SIDE OF THE ABOVE DESCRIBED CENTERLINE) THE RIGHT-OF-WAY LINES OF SAID RIGHT-OF-WAY SHALL BE PROLONGED OR SHORTENED TO BEGIN AND END ON AND CONFORM TO THE PROPERTY BOUNDARY LINES. 5) GARFIELD COUNTY ROAD 114 EXCEPTION PARCEL LEGAL DESCRIPTION This page is only a part of a 2016 ALTA® Commitment for Title Insurance issued by First American Title Insurance Company. Thi s Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I -Requirements; Schedule B, Part II-Exceptions. Copyright 2006-2016 American Land Title Association. All rights reserved. The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association. Form 50004008 (8-23-18) Page 22 of 33 ALTA Commitment for Title Insurance (8-1-16) Colorado A PARCEL OF LAND LOCATED IN THE NORTHEAST QUARTER OF SECTION 33, TOWNSHIP 6 SOUTH, RANGE 88 WEST, OF THE SIXTH PRINCIPAL MERIDIAN, SAID PARCEL BEING THE RIGHT-OF-WAY FOR GARFIELD COUNTY ROAD 114 AND THE INTERSECTION OF GARFIELD COUNTY ROAD 114 WITH GARFIELD COUNTY ROAD 115, SAID PARCEL BEING FURTHER DESCRIBED AS FOLLOWS: BEGINNING AT A POINT ON THE SOUTHERN LINE OF THE NORTHEAST QUARTER OF SAID SECTION 33 WHENCE THE EAST QUARTER CORNER FOR SAID SECTION 33 BEING A 2-INCH ALUMINUM CAP BEARS S 88°27'45" E 551.40 FEET SAID POINT ALSO BEING A POINT ON THE EASTERLY RIGHT-OF-WAY OF GARFIELD COUNTY ROAD 114; THENCE N 88°27'45" W 77.11 FEET ALONG SAID SOUTHERN LINE OF THE NORTHEAST QUARTER TO A POINT ON THE WESTERLY BOUNDARY OF SAID COUNTY ROAD 114, WHENCE THE CENTER QUARTER FOR SAID SECTION 33 BEING A 2-1/2-INCH ALUMINUM CAP FOUND IN PLACE BEARS N 88°27'45" N 1883.48; THENCE THE FOLLOWING TWO COURSES ALONG THE WESTERLY RIGHT-OF-WAY OF SAID COUNTY ROAD 114; 1. N 40°27'03" E 99.05 FEET; 2. THENCE ALONG THE ARC OF A CURVE TO THE LEFT HAVING A RADIUS OF 270.00 FEET, AND A CENTRAL ANGLE OF 69°20'35" FOR A DISTANCE ALONG THE CURVE OF 326.77 FEET; THE CHORD OF SAID CURVE BEARS N 05°46'46" E A DISTANCE OF 307.19 FEET TO A POINT ON THE SOUTHERLY RIGHT-OF-WAY OF GARFIELD COUNTY ROAD 115; THENCE THE FOLLOWING THREE COURSES ALONG THE SOUTHERN RIGHT-OF-WAY OF COUNTY ROAD 115: 1. ALONG THE ARC OF A NON-TANGENT CURVE TO THE LEFT HAVING A RADIUS OF 759.53 FEET, AND A CENTRAL ANGLE OF 06°00'12" FOR A DISTANCE ALONG THE CURVE OF 79.58 FEET; THE CHORD OF SAID CURVE BEARS S 31°53'38" E A DISTANCE OF 79.55 FEET; 2. THENCE ALONG THE ARC OF A CURVE TO THE LEFT HAVING A RADIUS OF 230.00 FEET, AND A CENTRAL ANGLE OF 53°37'43" FOR A DISTANCE ALONG THE CURVE OF 215.28 FEET; THE CHORD OF SAID CURVE BEARS S 61°42'35" E A DISTANCE OF 207.51 FEET; 3. THENCE ALONG THE ARC OF A CURVE TO THE LEFT HAVING A RADIUS OF 2201.07 FEET, AND A CENTRAL ANGLE OF 03°41'58" FOR A DISTANCE ALONG THE CURVE OF 142.12 FEET; THE CHORD OF SAID CURVE BEARS N 89°37'34" E A DISTANCE OF 142.09 FEET TO A POINT ON THE EASTERLY RIGHT-OF-WAY OF GARFIELD COUNTY ROAD 114; THENCE THE FOLLOWING TWO COURSES ALONG THE EASTERLY RIGHT-OF-WAY OF COUNTY ROAD 114; 1. ALONG THE ARC OF A NON-TANGENT CURVE TO THE LEFT HAVING A RADIUS OF 470.00 FEET, AND A CENTRAL ANGLE OF 47°19'32" FOR A DISTANCE ALONG THE CURVE OF 388.21 FEET; THE CHORD OF SAID CURVE BEARS S 64°06'49" W A DISTANCE OF 377.27 FEET; 2. THENCE S 40°27'03" W 70.18 FEET TO THE POINT OF BEGINNING. THE RIGHT-OF-WAY LINES OF SAID RIGHT-OF-WAY SHALL BE PROLONGED OR SHORTENED TO BEGIN AND END ON AND CONFORM TO THE PROPERTY BOUNDARY LINES. EXCEPTING FROM SAID PARCELS 1, 2 AND 3 THOSE PORTIONS CONVEYED BY QUIT CLAIM DEED RECORDED OCTOBER 21, 2010 AT RECEPTION NO. 793247. PARCEL 4: THIRTY FOOT ROADWAY EASEMENT FROM HOPKINS RANCH LTD. TO SPRING VALLEY HOLDING USA RECORDED SEPTEMBER 10, 1993 IN BOOK 875 AT PAGE 126 AS RECEPTION NO. 452323 AND RE-RECORDED JANUARY 13, 1994 IN BOOK 889 AT PAGE 681 AS RECEPTION NO. 457969, COUNTY OF GARFIELD, STATE OF COLORADO. For informational purposes only: APN: 218716100169 APN: 218720100168 This page is only a part of a 2016 ALTA® Commitment for Title Insurance issued by First American Title Insurance Company. Thi s Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I -Requirements; Schedule B, Part II-Exceptions. Copyright 2006-2016 American Land Title Association. All rights reserved. The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association. Form 50004008 (8-23-18) Page 23 of 33 ALTA Commitment for Title Insurance (8-1-16) Colorado APN: 218726200168 APN: 218733100152 This page is only a part of a 2016 ALTA® Commitment for Title Insurance issued by First American Title Insurance Company. Thi s Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I -Requirements; Schedule B, Part II-Exceptions. Copyright 2006-2016 American Land Title Association. All rights reserved. The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association. Form 50004008 (8-23-18) Page 24 of 33 ALTA Commitment for Title Insurance (8-1-16) Colorado Schedule BI & BII ALTA Commitment for Title Insurance ISSUED BY First American Title Insurance Company File No: NCS-1133415-SLC1 Commitment No.: NCS-1133415-SLC1 SCHEDULE B, PART I Requirements All of the following Requirements must be met: 1. The Proposed Insured must notify the Company in writing of the name of any party not referred to in this Commitment who will obtain an interest in the Land or who will make a loan on the Land. The Company may then make additional Requirements or Exceptions. 2. Pay the agreed amount for the estate or interest to be insured. 3. Pay the premiums, fees, and charges for the Policy to the Company. 4. Documents satisfactory to the Company that convey the Title or create the Mortgage to be insured, or both, must be properly authorized, executed, delivered, and recorded in the Public Records. 5. Payment of all taxes and assessments now due and payable as shown on a certificate of taxes due from the County Treasurer or the County Treasurer's Authorized Agent. NOTE: Tax certificate(s) must be ordered by or provided to the Company at least one week prior to closing. 6. Local ordinances may impose inchoate liens on the Land for unpaid water, sewer, stormwater drainage, or other utilities charges. If this transaction includes a sale of the Land, a Utilities Agreement and/or escrow is required. 7. Evidence that all assessments for common expenses, if any, have been paid. 8. Receipt by the Company of an ALTA/NSPS Land Title Survey, certified to First American Title Insurance Company, and in form and content satisfactory to the Company. The Company reserves the right to make further requirements and/or exceptions upon review of this survey. 9. Recordation of a Release of the Deed of Trust from Spring Valley Holdings, LLC, a Delaware limited liability company to the Public Trustee of Garfield County for the use of Compass Bank, an Alabama banking corporation to secure an indebtedness in the principal sum of $25,000,000.00, and any other amounts and/or obligations secured thereby, dated June 30, 2015 and recorded June 30, 2015 at Reception No. 864702, and amended by First Amended and Restated Deed of Trust recorded April 29, 2020 at Reception No. 934688. 10. Receipt by the Company of the following documentation for Spring Valley Holdings, LLC, a Delaware limited liability company: This page is only a part of a 2016 ALTA® Commitment for Title Insurance issued by First American Title Insurance Company. Thi s Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I -Requirements; Schedule B, Part II-Exceptions. Copyright 2006-2016 American Land Title Association. All rights reserved. The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association. Form 50004008 (8-23-18) Page 25 of 33 ALTA Commitment for Title Insurance (8-1-16) Colorado Operating Agreement, and all amendments thereto, if any. Certificate of Good Standing issued by the Delaware Secretary of State. NOTE: The Company reserves the right to make further requirements and/or exceptions upon review of the above item(s). 11. Receipt by the Company of the following documentation for Storied Development LLC, a Delaware limited liability company: Operating Agreement, and all amendments thereto, if any. Certificate of Good Standing issued by the Delaware Secretary of State. NOTE: The Company reserves the right to make further requirements and/or exceptions upon review of the above item(s). 12. Receipt by the Company of a satisfactory Final Affidavit and Indemnity, executed by Spring Valley Holdings, LLC, a Delaware limited liability company. 13. Receipt by the Company of a satisfactory Final Affidavit and Indemnity, executed by Storied Development LLC, a Delaware limited liability company. 14. Prior to closing, the Company must confirm whether the county recording office in which the Land is located has changed its access policies due to the COVID-19 outbreak. If recording has been restricted, specific underwriting approval is required; and, additional requirements or exceptions may be made. This page is only a part of a 2016 ALTA® Commitment for Title Insurance issued by First American Title Insurance Company. Thi s Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I -Requirements; Schedule B, Part II-Exceptions. Copyright 2006-2016 American Land Title Association. All rights reserved. The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association. Form 50004008 (8-23-18) Page 26 of 33 ALTA Commitment for Title Insurance (8-1-16) Colorado Schedule BI & BII (Cont.) ALTA Commitment for Title Insurance ISSUED BY First American Title Insurance Company File No: NCS-1133415-SLC1 Commitment No.: NCS-1133415-SLC1 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, material or equipment, unless such lien is shown by the Public Records at Date of Policy and not otherwise excepted from coverage herein. 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. Any water rights, claims of title to water, in, on or under the Land. 8. Any existing leases or tenancies. 9. The right of a proprietor of a vein or lode to extract and remove his ore therefrom should the same be found to penetrate or intersect the premises, as reserved in United States Patent recorded August 8, 1896 at Reception No. 19517, and recorded April 11, 1923 at Reception No. 82446, and recorded March 26, 1965 at Reception No. 229186, and recorded September 8, 1896 at Reception No. 19569, and recorded June 2, 1916 at Reception No. 54279. This page is only a part of a 2016 ALTA® Commitment for Title Insurance issued by First American Title Insurance Company. Thi s Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I -Requirements; Schedule B, Part II-Exceptions. Copyright 2006-2016 American Land Title Association. All rights reserved. The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association. Form 50004008 (8-23-18) Page 27 of 33 ALTA Commitment for Title Insurance (8-1-16) Colorado 10. Right of way for ditches and canals as constructed by the authority of the United States, as reserved in United States Patent recorded August 8, 1896 at Reception No. 19517, and recorded September 8, 1896 at Reception No. 19569, and recorded September 1, 1906 at Reception No. 32339, and recorded December 7, 1912 at Reception No. 45724, and recorded June 2, 1916 at Reception No. 54279, and recorded April 7, 1923 at Reception No. 82381, and recorded April 11, 1923 at Reception No. 82446, and recorded February 28, 1926 at Reception No. 94056, and recorded October 31, 1939 at Reception No. 137373, and recorded May 20, 1940 at Reception No. 139733, and recorded February 26, 1952 at Reception No. 178627, and recorded February 26, 1952 at Reception No. 178628, and recorded February 26, 1952 at Reception No. 178629, and recorded February 26, 1952 at Reception No. 178630, and recorded February 26, 1952 at Reception No. 178631, and recorded February 26, 1952 at Reception No. 178632, and recorded February 26, 1952 at Reception No. 178633, and recorded February 26, 1952 at Reception No. 178634, and recorded February 26, 1952 at Reception No. 178635, and recorded February 26, 1952 at Reception No. 178636, and recorded February 26, 1952 at Reception No. 178637, and recorded March 3, 1952 at Reception No. 178688, and recorded March 3, 1952 at Reception No. 178689, and recorded March 3, 1952 at Reception No. 178690, and recorded March 26, 1965 at Reception No. 229186. 11. All rights under an application by the Glenwood High Line Railway Company, as reserved in United States Patent recorded December 7, 1912 in Book 71 at Page 582, at Reception No. 45724. 12. Conveyance from the U.S. to Scott C. Hopkins, excepting and excluding that tract of land described and included in Power Site Reserve. No. 542 created by Executive Order of August 25, 1916, under the Act of Congress approved June 25, 1910 (36 Stat. 847d), as reserved in United States Patent recorded April 11, 1923 in Book 112 at Page 388, at Reception No. 82446. 13. All the coal and other minerals in the lands so entered and patented, together with the right to prospect for, nine and remove the same pursuant to the Act of December 29, 1916 (39 Stat. 862), as reserved in United States Patent recorded October 31, 1939 in Book 194 at Page 590, at Reception No. 137373. 14. All the coal and other minerals in the lands so entered and patented, together with the right to prospect for, mine, and remove the same pursuant to the Act of December 29, 1016 (39 Stat. 862), as reserved in United States Patent recorded February 26, 1962 in Book 263 at Page 232, at Reception No. 178628. 15. Reservation unto the U.S., its permitee or licensee, the right to enter upon, occupy and use, any part or all of that portion of the NE1/4NE1/4 of Section 28, lying with An 50 ft. of the centerline of the transmission line right of way of the Central Colorado Power Company for the purposes provided in the Act of June 10, 1920 (41 Stat. 1063), as reserved in United States Patent recorded February 26, 1952 in Book 263 at Page 235, at Reception No. 178631. 16. All the coal and other minerals in the lands so entered and patented, together with the right to prospect for, mine and remove the same pursuant to the Act of December 29, 1916 (39 Stat. 862), as reserved in United States Patent recorded February 26, 1952 in Book 263 at Page 236, at Reception No. 178632. 17. Reservation unto the U.S., its permittee or licensee, the right to enter upon, occupy and use, any part or all of that portion of the E1/2NW1/4 and the NE1/4SW1/4 of Section 21 for the purposes provided in the Act of June 10, 1920 (41 Stat. 1063), as reserved in United States Patent recorded February 26, 1952 in Book 263 at Page 237, at Reception No. 178633. 18. All the coal and other minerals in the lands so entered and patented, together with the right to prospect for, mine and remove the same pursuant to the Act of December 29, 1916 (39 Stat. 862), This page is only a part of a 2016 ALTA® Commitment for Title Insurance issued by First American Title Insurance Company. Thi s Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I -Requirements; Schedule B, Part II-Exceptions. Copyright 2006-2016 American Land Title Association. All rights reserved. The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association. Form 50004008 (8-23-18) Page 28 of 33 ALTA Commitment for Title Insurance (8-1-16) Colorado as reserved in United States Patent recorded February 26, 1952 in Book 263 at Page 238, at Reception No. 178634. 19. The right to enter upon, occupy and use, any part or all of that portion of the SE1/4NE1/4 of Sec. 28 lying within 50 ft. of the centerline of the transmission line right of way of the Central Colorado Power Co. for the purposes provided in the Act of June 10, 1920 (41 Stat 1063), as reserved in United States Patent recorded February 26, 1952 in Book 263 at Page 240, at Reception No. 178636. 20. The right to enter upon occupy and use, any part or all of that portion of the Lots 3 and 4 of Sec. 16, lying within 50 ft. of the centerline of the transmission line right of way of the Central Colorado Power Company for the purposes provided in the Act of June 10, 1920 (41 Stat. 1063), as reserved in United States Patent recorded March 3, 1952 in Book 263 at Page 276, at Reception No. 178689. 21. All the coal and other minerals in the lands so entered and patented, together with the right to prospect for, mine and remove the same pursuant to the Act of December 29, 1916 (39 Stat. 862), as reserved in United States Patent recorded March 3, 1952 in Book 263 at Page 272, at Reception No. 178690. 22. An easement for Thirty foot Right of Way for private use and incidental purposes as reserved in Quit Claim Deed recorded July 5, 1951, in Book 259 at Page 190, at Reception No. 176573. 23. An easement for Electric transmission lines and telephone and telegraph lines and incidental purposes as reserved in Affidavit recorded March 9, 1959 in Book 315 at Page 525, at Reception No. 204592. 24. An easement for Ingress and egress, together with any and all grazing rights and privileges and incidental purposes as reserved in Deed recorded June 24, 1965 in Book 367 at Page 185, at Reception No. 230466, and in Deed recorded June 24, 1965 in Book 367 at Page 188, at Reception No. 230467. 25. All the coal and other minerals in the lands so entered and patented, together with the right to prospect for, mine, and remove the same pursuant to the Act of December 29, 1916 (39 Stat. 862), as reserved in United States Patent recorded May 20, 1940 in Book 194 at Page 617, at Reception No. 139733. 26. All the coal and other minerals in the lands so entered and patented, together with the right to prospect for, mine, and remove the same pursuant to the Act of December 29, 1916 (39 Stat. 862), as reserved in United States Patent recorded February 26, 1952 in Book 263 at Page 231, at Reception No. 178627. 27. All the coal and other minerals in the lands so entered and patented, together with the rights to prospect for, mine, and remove the same pursuant to the Act of December 29, 1916 (39 Stat. 862), as reserved in United States Patent recorded February 26, 1952 in Book 263 at Page 239 as Reception No. 178635. 28. An easement for non-exclusive easement and right-of-way for roadway access and incidental purposes as reserved in Warranty Deed recorded April 19, 1977 in Book 495 at Page 593, at Reception No. 277986. 29. An easement for roadway access purposes and incidental purposes as reserved in Special Warranty Deed recorded April 19, 1977 in Book 495 at Page 596, at Reception No. 277987. This page is only a part of a 2016 ALTA® Commitment for Title Insurance issued by First American Title Insurance Company. Thi s Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I -Requirements; Schedule B, Part II-Exceptions. Copyright 2006-2016 American Land Title Association. All rights reserved. The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association. Form 50004008 (8-23-18) Page 29 of 33 ALTA Commitment for Title Insurance (8-1-16) Colorado 30. An easement for roadway access, pipelines, and utilities and incidental purposes as reserved in Deed recorded October 4, 1977 at Reception No. 281051, and recorded October 4, 1977 at Reception No. 281052, and recorded November 2, 1977 at Reception No. 281588, and recorded November 3, 1977 at Reception No. 281622, and recorded January 6, 1978 at Reception No. 28277 3. 31. Terms, conditions, provisions, obligations and agreements as set forth in the Resolutions by the Board of County Commissioners of Garfield County recorded October 24, 1980 at Reception No. 308660, and recorded July 12, 1984 at Reception No. 353974, and recorded July 12, 1984 at Reception No. 353975, and recorded October 13, 1987 at Reception No. 386620, and recorded December 6, 1994 at Reception No. 471850, and recorded December 13, 1994 at Reception No. 472056, and recorded December 1, 2000 at Reception No. 572999, and recorded January 15, 2002 at Reception No. 595731, and recorded December 2, 2003 at Reception No. 642016, and recorded December 2, 2003 at Reception No. 642017, and recorded November 8, 2005 at Reception No. 686066, and recorded November 8, 2005 at Reception No. 686067, and recorded April 22, 2008 at Reception No. 747015, and recorded April 22, 2008 at Reception No. Reception No. 747016 . 32. Terms, conditions, provisions, obligations, easements and agreements as set forth in the Right of Way Easement recorded November 19, 1984 in Book 660 at Page 166, at Reception No. 357370. 33. Terms, conditions, provisions, obligations, easements and agreements as set forth in the Easement Agreement recorded September 10, 1993 in Book 875 at Page 129, at Reception No. 452324, and re- recorded February 2, 1994 in Book 891 at Page 668, at Reception No. 458816. 34. An easement for utility lines and incidental purposes granted to Public Service Company of Colorado, as set forth in an instrument recorded July 15, 1994 in Book 908 at Page 836, at Reception No. 465897. 35. Terms, conditions, provisions, obligations and agreements as set forth in the Memorandum of Agreement on Boundary Line recorded April 26, 1995 in Book 938 at Page 691, at Reception No. 477245. 36. Terms, conditions, provisions, obligations and agreements as set forth in the Twenty foot easement for road and utility purposes recorded October 9, 1967 in Book 388 at Page 331, at Reception No. 239151. 37. Terms, conditions, provisions, obligations, easements and agreements as set forth in the Utility Relocation Agreement recorded September 08, 1998 in Book 1087 at Page 614, at Reception No. 531850. 38. An easement for utility lines and incidental purposes granted to Public Service Company of Colorado, as set forth in an instrument recorded September 29, 1998 in Book 1090 at Page 657, at Reception No. 532924. 39. Terms, conditions, provisions, obligations and agreements as set forth in the Director's Parcel Agreement recorded June 4, 2002 in Book 1360 at Page 460, at Reception No. 604722, and Corrected Director's Parcel Agreement recorded June 6, 2002 in Book 1361 at Page 102, at Reception No. 604872. 40. Terms, conditions, provisions, obligations and agreements as set forth in the Pre-Inclusion and Wastewater Treatment Plant Development Agreement recorded August 30, 2001 in Book 1282 at Page 8, at Reception No. 587475. This page is only a part of a 2016 ALTA® Commitment for Title Insurance issued by First American Title Insurance Company. Thi s Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I -Requirements; Schedule B, Part II-Exceptions. Copyright 2006-2016 American Land Title Association. All rights reserved. The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association. Form 50004008 (8-23-18) Page 30 of 33 ALTA Commitment for Title Insurance (8-1-16) Colorado 41. Terms, conditions, provisions, obligations, easements and agreements as set forth in the Easement Agreement recorded January 18, 2002 in Book 1322 at Page 335, at Reception No. 596026. 42. Terms, conditions, provisions, obligations and agreements as set forth in the Memorandum of Water Allotment Contract recorded February 16, 2006 at Reception No. 692412. 43. Any tax, lien, fee or assessment for 2015 and subsequent years, not yet due and payable, by reason of inclusion of subject property in the Landis Creek Metropolitan District No. 1, as evidenced by instrument recorded April 25, 2008 at Reception No. 747386, and recorded April 25, 2008 at Reception No. 747387, and recorded April 25, 2008 at Reception No. 747388. 44. Terms, conditions, provisions, obligations, easements and agreements as set forth in the Easement Grant recorded July 22, 2010 at Reception No. 788884. 45. An easement for to allow access to the spring and incidental purposes granted to Louis Lagiglia, as set forth in an instrument recorded October 21, 2010 at Reception No. 793242. 46. Easements, notes, covenants, restrictions and rights-of-way as shown on the Spring Valley Ranch P.U.D. Phase 1, Final Plat, recorded October 21, 2010 at Reception No. 793243, and First Amended Plat thereof recorded December 5, 2012 at Reception No. 828064. Resolution No. 2017-31 in connection therewith recorded July 19, 2017 at Reception No. 894968. 47. Covenants, conditions, restrictions and provisions as set forth in Master Declaration of Covenants, Conditions and Restrictions for Spring Valley Ranch P.U.D. recorded October 21, 2010 at Reception No. 793245, but omitting any covenant or restriction based on race, color, religion, sex, handicap, familial status, or national origin, and any and all amendments, assignments, or annexations thereto. 48. Terms, conditions, provisions, obligations, easements and agreements as set forth in the Easement Grant recorded October 21, 2010 at Reception No. 793246. 49. Terms, conditions, provisions, obligations and agreements as set forth in the Development Agreement recorded October 21, 2010 at Reception No. 793248, and First Amendment thereto recorded December 5, 2012 at Reception No. 828067. 50. Terms, conditions, provisions, obligations and agreements as set forth in the Wells Sharing Agreement recorded December 5, 2011 at Reception No. 811551. 51. Terms, conditions, provisions, obligations and agreements as set forth in the Quit Claim Deed recorded December 5, 2012 at Reception No. 828063. 52. Easements, notes, covenants, restrictions and rights-of-way as shown on the Spring Valley Ranch P.U.D. Phasing Map, recorded December 5, 2012 at Reception No. 828065. 53. Terms, conditions, provisions, obligations and agreements as set forth in the Resolution No. 2012-95 recorded December 5, 2012 at Reception No. 828066. 54. Any tax, lien, fee or assessment for 2015 and subsequent years, not yet due and payable, by reason of inclusion of subject property in the Basalt Water Conservancy District, as evidenced by instrument recorded February 19, 2013 at Reception No. 831499. This page is only a part of a 2016 ALTA® Commitment for Title Insurance issued by First American Title Insurance Company. Thi s Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I -Requirements; Schedule B, Part II-Exceptions. Copyright 2006-2016 American Land Title Association. All rights reserved. The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association. Form 50004008 (8-23-18) Page 31 of 33 ALTA Commitment for Title Insurance (8-1-16) Colorado 55. An easement for ingress, egress, and utilities and incidental purposes as reserved in Quit Claim Deed recorded July 19, 2017 at Reception No. 894962. 56. Terms, conditions, provisions, obligations and agreements as set forth in the Amended and Restated Development Agreement recorded July 19, 2017 at Reception No. 894969. 57. Rights of KISS Capital Group LLC, as tenant only, under that certain Lease dated June 30, 2015, between Spring Valley Holdings, LLC, as landlord, and KISS Capital Group LLC, as tenant. This page is only a part of a 2016 ALTA® Commitment for Title Insurance issued by First American Title Insurance Company. Thi s Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I -Requirements; Schedule B, Part II-Exceptions. Copyright 2006-2016 American Land Title Association. All rights reserved. The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association. Form 50004008 (8-23-18) Page 32 of 33 ALTA Commitment for Title Insurance (8-1-16) Colorado DISCLOSURE STATEMENT Pursuant to C.R.S. 30-10-406(3)(a) all documents received for recording or filing in the Clerk and Recorder's office shall contain a top margin of at least one inch and a left, right and bottom margin of at least one-half of an inch. The Clerk and Recorder will refuse to record or file any document that does not conform to the requirements of this section. NOTE: If this transaction includes a sale of the property and the price exceeds $100,000.00, the seller must comply with the disclosure/withholding provisions of C.R.S. 39-22-604.5 (Nonresident withholding). NOTE: Colorado Division of Insurance Regulations 8-1-2 requires that "Every title insurance company shall be responsible to the proposed insured(s) subject to the terms and conditions of the title commitment, other than the effective date of the title commitment, for all matters which appear of record prior to the time of recording whenever the title insurance company, or its agent, conducts the closing and settlement service that is in conjunction with its issuance of an owner's policy of title insurance and is responsible for the recording and filing of legal documents resulting from the transaction which was closed. Pursuant to C.R.S. 10-11-122, the company will not issue its owner’s policy or owner's policies of title insurance contemplated by this commitment until it has been provided a Certificate of Taxes due or other equivalent documentation from the County Treasurer or the County Treasurer’s authorized agent; or until the Proposed Insured has notified or instructed the company in writing to the contrary. The subject property may be located in a special taxing district. A Certificate of Taxes due listing each taxing jurisdiction shall be obtained from the County Treasurer or the County Treasurer's authorized agent. Information regarding special districts and the boundaries of such districts may be obtained from the Board of County Commissioners, the County Clerk and Recorder, or the County Assessor. C.R.S. 10-11-122 (4), 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. 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 8-1-1, 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 is sued) 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. This page is only a part of a 2016 ALTA® Commitment for Title Insurance issued by First American Title Insurance Company. Thi s Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I -Requirements; Schedule B, Part II-Exceptions. Copyright 2006-2016 American Land Title Association. All rights reserved. The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association. Form 50004008 (8-23-18) Page 33 of 33 ALTA Commitment for Title Insurance (8-1-16) Colorado 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. 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 impris onment, 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. 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.