HomeMy WebLinkAboutFile Documents.1300 Riverside Dr.0309.2017 (43).ARBK PSt AMEqC9 Title Insurance Commitment
4` 2 First American Title ISSUED BY
/file First American Title Insurance Company
Commitment
INFORMATION TABLE OF CONTENTS
The Title Insurance Commitment is a legal contract between you and the
Company. It is issued to show the basis on which we will issue a Title AGREEMENT TO ISSUE POLICY 1
Insurance Policy to you. The Policy will insure you against certain risks to the
land title,subject to the limitations shown in the Policy. CONDITIONS 2
The Company will give you a sample of the Policy form,if you ask.
The Policy contains an arbitration clause. All arbitrable matters when the SCHEDULE A Insert
Amount of Insurance is$2,000,000 or less shall be arbitrated at the option of
either the Company or you as the exclusive remedy of the parties. You may 1. Commitment Date
review a copy of the arbitration rules at http://www.alta.org/.
The Commitment is based on the land title as of the Commitment Date. Any 2. Policies to be Issued,Amounts
changes in the land title or the transaction may affect the Commitment and and Proposed Insureds
the Policy.
The Commitment is subject to its Requirements,Exceptions and Conditions. 3. Interest in the Land and Owner
THIS INFORMATION IS NOT PART OF THE TITLE INSURANCE 4. Description of the Land
COMMITMENT. YOU SHOULD READ THE COMMITMENT VERY
CAREFULLY. SCHEDULE B-I-REQUIREMENTS Insert
If you have any questions about the Commitment,contact:
FIRST AMERICAN TITLE INSURANCE COMPANY SCHEDULE B II EXCEPTIONS Insert
1 First American Way,Santa Ana,California 92707
AGREEMENT TO ISSUE POLICY
We agree to issue policy to you according to the terms of the Commitment. When we show the policy amount and your name as the proposed insured in Schedule A,
this Commitment becomes effective as of the Commitment Date shown in Schedule A.
If the Requirements shown in this Commitment have not been met within six months after the Commitment Date,our obligation under this Commitment will end. Also,
our obligation under this Commitment will end when the Policy is issued and then our obligation to you will be under the Policy.
Our obligation under this Commitment is limited by the following:
• The Provisions in Schedule A.
• The Requirements in Schedule B-I.
• The Exceptions in Schedule B-II.
• The Conditions on Page 2.
This Commitment is not valid without SCHEDULE A and Sections I and II of SCHEDULE B.
First American Title insurance Company
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•••'••• c�U....• .` Dennis J_ Gilmore Timothy Kemp
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President Secretary
(This Commitment is valid only when Schedules A and B are attached) This jacket was created electronically and constitutes an original document
Copyright 2006-2009 American Land Title Association. All rights reserved. The use of this form is restricted to ALTA licensees and ALTA members in good standing as of the date
of use. All other uses are prohibited. Reprinted under license from the American Land Title Association.
RECEIVED
12/11/2017
Form 5011000(6-22-10) Page 1 of 2 ALTA Plain Language Commitment(6-17-06)
ASPEN
BUILDING DEPARTMENT
CONDITIONS
1. DEFINITIONS
(a) "Mortgage" means mortgage, deed of trust or other security instrument. (b) "Public Records" means title records
that give constructive notice of matters affecting your title according to the state statutes where your land is
located.
2. LATER DEFECTS
The Exceptions in Schedule B - Section II may be amended to show any defects, liens or encumbrances that appear
for the first time in the public records or are created or attached between the Commitment Date and the date on which
all of the Requirements (a) and (c) of Schedule B - Section I are met. We shall have no liability to you because of this
amendment.
3. EXISTING DEFECTS
If any defects, liens or encumbrances existing at Commitment Date are not shown in Schedule B, we may amend
Schedule B to show them. If we do amend Schedule B to show these defects, liens or encumbrances, we shall be
liable to you according to Paragraph 4 below unless you knew of this information and did not tell us about it in writing.
4. LIMITATION OF OUR LIABILITY
Our only obligation is to issue to you the Policy referred to in this Commitment, when you have met its Requirements.
If we have any liability to you for any loss you incur because of an error in this Commitment, our liability will be limited
to your actual loss caused by your relying on this Commitment when you acted in good faith to:
Comply with the Requirements shown in Schedule B - Section I
or
Eliminate with our written consent any Exceptions shown in Schedule B - Section II.
We shall not be liable for more than the Policy Amount shown in Schedule A of this Commitment and our liability is
subject to the terms of the Policy form to be issued to you.
5. CLAIMS MUST BE BASED ON THIS COMMITMENT
Any claim, whether or not based on negligence, which you may have against us concerning the title to the land must
be based on this Commitment and is subject to its terms.
Form 5011000(6-22-10) Page 2 of 2 ALTA Plain Language Commitment(6-17-06)
American Land Title Association ALTA Commitment Form
Adopted 6-17-06
First American Title Insurance Co.
Commitment No.: 16003589
SCHEDULE A
1. Effective Date: June 16, 2017 at 07:45 AM
2. Policy or Policies to be issued: Amount Premium
A. ALTA Owners Policy(06/17/06) $0.00 $0.00
Proposed Insured: The Nancy Dedman Trust#1
Certificate of Taxes Due $0.00
Endorsements:
Additional Charges: $0
Total $0.00
3. The estate or interest in the land described or referred to in this Commitment is Fee simple.
4. Title to the Fee simple or interest in the land is at the Effective Date vested in:
The Nancy Dedman Trust#1
5. The land referred to in the Commitment is described as follows:
SEE EXHIBIT A ATTACHED HERETO
For informational purposes only, the property address is: 1300 Riverside Drive, Aspen, CO 81611.
Attorneys Title Insurance Agency of Aspen, LLC
Ya./070 /--
By:
Winter VanAlstine
Authorized Officer or Agent
FOR INFORMATIONAL PURPOSES OR SERVICES IN CONNECTION WITH THIS COMMITMENT, CONTACT:
Attorneys Title Insurance Agency of Aspen, LLC, 715 West Main Street, Suite 202, Aspen, CO 81611, Phone: 970
925-7328, Fax: 970 925-7348.
Copyright 2006-2009 American Land Title Association. All right reserved.
AMERICAN
The use of this Form is restricted to ALTA licensees and ALTA members in good standing as of the date of use. LAND TITLE
ASSOCIATION
All other uses are prohibited. Reprinted under license from the American Land Title Association.
4tIk.
17003755
American Land Title Association ALTA Commitment Form
Adopted 6-17-06
First American Title Insurance Co.
Commitment No.: 16003589
SCHEDULE B
1. Requirements:
1. Pay the agreed amounts for the interest in the land and/or the mortgage to be insured.
2. Pay us the premiums, fees and charges for the policy.
3. Documents satisfactory to us creating the interest in the land and/or the mortgage to be insured must be signed,
delivered and recorded.
4. You must tell us in writing the name of anyone not referred to in this Commitment who will get an interest in the
land or who will make a loan on the land. We may then make additional requirements or exceptions.
5. Payment of all taxes, charges and assessments, levied and assessed against the subject premises which are due
and payable.
6. A Certification of Taxes due listing each taxing jurisdiction shall be obtained from the County Treasurer or an
authorized agent(pursuant to Senate Bill 92-143, CRS 10-11-122).
7. Receipt by the Company of the appropriate affidavit as to new construction and indemnifying the Company against
any unfiled materialmen's or mechanic's liens.
8. Warranty Deed must be sufficient to convey the fee simple estate or interest in the land described or referred to
herein, from The Nancy Dedman Trust#1, to TBD, the proposed insured, Schedule A, item 2A. NOTE: C.R.S.
Section 38-35-109(2) required that a notation of the purchaser's legal address, (not necessarily the same as the
property address) be included on the face of the Deed to be recorded.
9. Full disclosure from Seller, of any monetary liens and open Deeds of Trust of record. If you have any knowledge of
an outstanding obligation secured by the subject property, you must contact us immediately for further review prior
to closing.
10. Record a Statement of Authority to provide prima facie evidence of existence of The Nancy Dedman Trust#1, an
entity capable of holding property, and the name of the person authorized to execute instruments affecting title to
real property as authorized by C.R.S. Section 38-30-172.
11. A true and correct copy of the Trust Agreement which creates The Nancy Dedman Trust#1, providing, among
other things, the designation of the trustee(s)and specification of the trustee(s) powers under that trust.
12. Additional Requirements may be included once the name of the Buyer is provided.
13. Improvement Survey Plat sufficient in form, content and certification acceptable to the Company. Exception will be
taken to adverse matters disclosed thereby.
14. This Title Commitment is subject to underwriter approval.
Copyright 2006-2009 American Land Title Association. All right reserved.
AMERICAN
The use of this Form is restricted to ALTA licensees and ALTA members LAND TITLE
in good standing as of the date of use. All other uses are prohibited. ASSOCIATION
Reprinted under license from the American Land Title Association.
17003755
American Land Title Association ALTA Commitment Form
Adopted 6-17-06
First American Title Insurance Co.
Commitment No.: 16003589
SCHEDULE B
(Continued)
2. Schedule B of the policy or policies to be issued will contain exceptions to the following matters unless the same are
disposed of to the satisfaction of the Company:
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 survey
and inspection of the Land would disclose, and which are not shown by the Public Records.
4. Any lien, or right to a lien, for services, labor or material theretofore or hereafter furnished, imposed by law and not
shown in the Public Records.
5. Any and all unpaid taxes, assessments and unredeemed tax sales.
6. (a) Unpatented mining claims; (b) reservations or exceptions in patents or in Acts authorizing the issuance thereof;
(c)water rights, claims or title to water, whether or not the matters excepted under(a), (b), or(c)are shown by the
Public Records.
7. Taxes and assessments for the year 2017, and subsequent years, a lien not yet due or payable.
8. Any vein or lode or quartz or other rock in place bearing gold, silver, cinnabar, lead, tin, copper or other valuable
deposits claimed or known to exist on March 23, 1885 and right of the proprietor of a vein or lode or quartz or
other rock in place to extract and remove the ore therefrom, should the same be found to penetrate or intersect
the premises, as reserved in the United States Patent dated October 18, 1894, and recorded June 17, 1949, in
Book 175 at Page 246, as Reception No. 096480.
9. Terms, conditions, provisions, agreements and obligations specified under the Agreement Providing for
Restrictions for the Riverside Subdivision recorded March 25, 1955, in Book 180 at Page 351, as Reception No.
102222, and Declaration Amendment dated March 15, 1957, and recorded March 18, 1957, in Book 179 at Page
586, as Reception No. 104938.
10. Any and all notes, easements and recitals as disclosed on the recorded Riverside Subdivision Plat recorded March
22, 1955, in Plat Book 2A at Page 179, as Reception No. 102218.
11. Terms, conditions, provisions, agreements and obligations specified under the Agreement, dated June 14, 1956,
and recorded June 19, 1956, in Book 169 at Page 557, as Reception No. 103843.
12. Terms, conditions, provisions, agreements and obligations specified under the Agreement dated May 20, 1998,
and recorded June 5, 1998, as Reception No. 417840.
Copyright 2006-2009 American Land Title Association. All right reserved.
AMERICAN
The use of this Form is restricted to ALTA licensees and ALTA members in good standing as of the date of use. LAND TITLE
ASSOCIATION
All other uses are prohibited. Reprinted under license from the American Land Title Association.
17003755
American Land Title Association ALTA Commitment Form
Adopted 6-17-06
First American Title Insurance Co.
Commitment No.: 16003589
SCHEDULE B
(Continued)
13. Encroachment of the mailbox and R.R. Tie Edging into the Right of Way, as shown on the ALTA/NSPS Land Title
Survey, provided by High County Engineering, Inc., dated September 2, 2016, and revised September 7, 2016, as
File 1751.DWG, recorded November 10, 2016, as Reception No. 633800.
14. Any encroachment between Lot 7 and Lot 6, onto Lot 6, by way of fence lines not corresponding to the lot lines, as
shown on the ALTA/NSPS Land Title Survey, provided by High County Engineering, Inc., dated September 2,
2016, and revised September 7, 2016, as File 1751.DWG, recorded November 10, 2016, as Reception No.
633800.
15. Lack of a recorded easement for Utility Lines that traverse the southerly boundary of the property from east to
west, as shown on the ALTA/NSPS Land Title Survey, provided by High County Engineering, Inc., dated
September 2, 2016, and revised September 7, 2016, as File 1751.DWG, recorded November 10, 2016, as
Reception No. 633800.
16. Any existing leases or tenancies, and any and all parties claiming by, through or under said lessees.
Copyright 2006-2009 American Land Title Association. All right reserved.
AMERICAN
The use of this Form is restricted to ALTA licensees and ALTA members in good standing as of the date of use. LAND TITLE
ASSOCIATION
All other uses are prohibited. Reprinted under license from the American Land Title Association.
17003755
First American Title Insurance Co.
Commitment No.: 16003589
EXHIBIT A
PROPERTY DESCRIPTION
The land referred to in this Commitment is described as follows:
Lot 6, Block 1, RIVERSIDE SUBDIVISION, according to the Plat thereof recorded in Plat Book 2A at Page 179, as
Reception No. 102218, Pitkin County, Colorado.
ALTA Commitment 17003755
Exhibit A
a Y t 4
•
First American Title
.,� . „„
DISCLOSURE STATEMENT
Pursuant to C.R.S. 30-10-406(3)(a) all documents received for recording or filing in the Clerk and Recorder's office shall
contain a top margin of at least one inch and a left, right and bottom margin of at least one-half of an inch. The Clerk and
Recorder will refuse to record or file any document that does not conform to the requirements of this section.
NOTE: If this transaction includes a sale of the property and the price exceeds $100,000.00, the seller must comply with
the disclosure/withholding provisions of C.R.S. 39-22-604.5 (Nonresident withholding).
NOTE: Colorado Division of Insurance Regulations 8-1-2 requires that"Every title insurance company shall be responsible
to the proposed insured(s) subject to the terms and conditions of the title commitment, other than the effective date of the
title commitment, for all matters which appear of record prior to the time of recording whenever the title insurance
company, or its agent, conducts the closing and settlement service that is in conjunction with its issuance of an owner's
policy of title insurance and is responsible for the recording and filing of legal documents resulting from the transaction
which was closed.
Pursuant to C.R.S. 10-11-122, the company will not issue its owner's policy or owner's policies of title insurance
contemplated by this commitment until it has been provided a Certificate of Taxes due or other equivalent documentation
from the County Treasurer or the County Treasurer's authorized agent; or until the Proposed Insured has notified or
instructed the company in writing to the contrary.
The subject property may be located in a special taxing district. A Certificate of Taxes due listing each taxing jurisdiction
shall be obtained from the County Treasurer or the County Treasurer's authorized agent. Information regarding special
districts and the boundaries of such districts may be obtained from the Board of County Commissioners, the County Clerk
and Recorder, or the County Assessor.
NOTE: Pursuant to CRS 10-11-123, notice is hereby given:
This notice applies to owner's policy commitments containing a mineral severance instrument exception, or
exceptions, in Schedule B, Section 2.
A. That there is recorded evidence that a mineral estate has been severed, leased, or otherwise conveyed
from the surface estate and that there is a substantial likelihood that a third party holds some or all
interest in oil, gas, other minerals, or geothermal energy in the property; and
B. That such mineral estate may include the right to enter and use the property without the surface owner's
permission. NOTE: Pursuant to Colorado Division of Insurance Regulations 8-1-2, Affirmative mechanic's
lien protection for the Owner may be available (typically by deletion of Exception no. 4 of Schedule B,
Section 2 of the Commitment from the Owner's Policy to be issued) upon compliance with the following
conditions:
NOTE: Pursuant to Colorado Division of Insurance Regulations 8-1-2,Affirmative mechanic's lien protection for
the Owner may be available (typically by deletion of Exception no. 4 of Schedule B, Section 2 of the Commitment
from the Owner's Policy to be issued) upon compliance with the following conditions:
A. The land described in Schedule A of this commitment must be a single family residence which includes a
condominium or townhouse unit.
B. No labor or materials have been furnished by mechanics or material-men for purposes of construction on
the land described in Schedule A of this Commitment within the past 6 months.
C. The Company must receive an appropriate affidavit indemnifying the Company against un-filed
mechanic's and material-men's liens.
D. The Company must receive payment of the appropriate premium.
E. If there has been construction, improvements or major repairs undertaken on the property to be
purchased within six months prior to the Date of the Commitment, the requirements to obtain coverage
for unrecorded liens will include: disclosure of certain construction information; financial information as
to the seller, the builder and or the contractor; payment of the appropriate premium, fully executed
Indemnity Agreements satisfactory to the company, and, any additional requirements as may be
necessary after an examination of the aforesaid information by the Company.
No coverage will be given under any circumstances for labor or material for which the insured has contracted for
or agreed to pay.
First American Title Insurance Company
NOTE: Pursuant to C.R.S. 38-35-125(2) no person or entity that provides closing and settlement services for a real estate
transaction shall disburse funds as a part of such services until those funds have been received and are available for
immediate withdrawal as a matter of right.
NOTE: C.R.S. 39-14-102 requires that a real property transfer declaration accompany any conveyance document
presented for recordation in the State of Colorado. Said declaration shall be completed and signed by either the grantor or
grantee.
NOTE: Pursuant to CRS 10-1-128(6)(a), It is unlawful to knowingly provide false, incomplete, or misleading facts
or information to an insurance company for the purpose of defrauding or attempting to defraud the company.
Penalties may include imprisonment, fines, denial of insurance and civil damages. Any insurance company or
agent of an insurance company who knowingly provides false, incomplete, or misleading facts or information to a
policyholder or claimant for the purpose of defrauding or attempting to defraud the policyholder or claimant with
regard to a settlement or award payable from insurance proceeds shall be reported to the Colorado division of
insurance within the department of regulatory agencies.
NOTE: Pursuant to Colorado Division of Insurance Regulations 8-1-3, notice is hereby given of the availability of an ALTA
Closing Protection Letter which may, upon request, be provided to certain parties to the transaction identified in the
commitment.
Nothing herein contained will be deemed to obligate the company to provide any of the coverages referred to herein unless
the above conditions are fully satisfied.
First American Title Insurance Company
ATTORNEYS TITLE INSURANCE AGENCY OF ASPEN, LLC
715 West Main Street, Suite 202
Aspen, CO 81611
Attorneys Title Insurance Agency of Aspen, LLC
Privacy Policy Notice
PURPOSE OF THIS NOTICE
Title V. of the Gramm-Leach-Bliley Act (GLBA) generally prohibits any financial institution, directly or through it affiliates,
from sharing non-public personal information about you with a nonaffiliated third party unless the institution provides you
with a notice of its privacy policies and practices, such as the type of information that it collects about you and the
categories of persons or entities to whom it may be disclosed. In compliance with the GLBA, we are providing you with
this document, which notifies you of the privacy policies and practices of Attorneys Title Insurance Agency of Aspen,
LLC.
We may collect nonpublic personal information about you from the following sources:
• Information we receive from you, such as on application or other forms.
• Information about your transactions we secure from out files, or from our affiliates or others.
• Information we receive from a consumer reporting agency.
• Information that we receive from others involved in your transaction, such as the real estate agent or lender.
Unless it is specifically stated otherwise in an amended Privacy Policy Notice, no additional nonpublic personal information
will be collected about you.
We may disclose any of the above information that we collect about our customers or former customer to our affiliates or
to nonaffiliated third parties as permitted by law.
We also may disclose this information about our customers or former customers to the following types of nonaffiliated
companies that perform marketing services on our behalf or with whom we have joint marketing agreements:
• Financial service providers such as companies engaged in banking, consumer finance, securities and insurance.
• Non-financial companies such as envelope stuffers and other fulfillment service providers.
WE DO NOT DISCLOSE ANY NONPUBLIC PERSONAL INFORMATION ABOUT YOU WITH ANYONE FOR ANY
PURPOSE THAT IS NOT SPECIFICALLY PERMITTED BY LAW.
We restrict access to nonpublic personal information about you to those employees who need to know that information in
order to provide products or services to you. We maintain physical, electronic, and procedural safeguards that comply with
federal regulations to guard your nonpublic personal information.
TELEPHONE 970 925-7328 A A A FACSIMILE 970 925-7348