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HomeMy WebLinkAboutFile Documents.234 W Francis St.0118-2020-BRES (29) dill TITLE COMPANY of the rockies 620 East Hopkins Avenue Aspen,CO 81611 Phone:970-925-3577 Fax:970-300-4423 www.titlecorockies.com COMMITMENT TRANSMITTAL Commitment Ordered By: Inquiries should be directed to: Derek Skalko Authorized Officer or Agent 1 Friday Design Title Company of the Rockies PO Box 7928 620 East Hopkins Avenue Aspen,CO 81612 Aspen,CO 81611 Phone: 970-309-0695 Fax: Phone:970-925-3577 Fax:970-300-4423 email:derek@lfriday.com Commitment Number: 0708423-C Buyer's Name(s): Purchaser with contractual rights under a purchaser agreement with the vested owner identified at item 4 below Seller's Name(s): 234 West Francis LLC,a Delaware limited liability company Property: 234 West Francis Street,Aspen,CO 81611 Lot K,L,&M,Block 48,City and Townsite of Aspen,Pitkin County,Colorado COPIES/MAILING LIST Purchaser with contractual rights under a purchaser agreement 234 West Francis LLC,a Delaware limited liability company with the vested owner identified at item 4 below 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. Title Company of the Rockies maintains branch operations in Eagle,Garfield,Grand,Lake,Moffat(dba Northwest Title Company),Pitkin,Routt,and Summit Counties along with Front Range coverage.Closing services are available for all Mountain Communities,throughout the State of Colorado,and on a nationwide basis. Experience the Experience,www.titlecorockies.com Page 1 of 1 October 22,2024 4:05 PM 620 East Hopkins Avenue d I I I I Aspen,CO 81611 TITLE COMPANY P w,title0cor ckies om 970-300-4423 of the rockier Commitment Ordered By: Inquiries should be directed to: Derek Skalko Authorized Officer or Agent 1 Friday Design Title Company of the Rockies PO Box 7928 620 East Hopkins Avenue Aspen,CO 81612 Aspen,CO 81611 Phone: 970-309-0695 Fax: Phone: 970-925-3577 Fax: 970-300-4423 email:derek@lfriday.com Commitment Number: 0708423-C Buyer's Name(s): Purchaser with contractual rights under a purchaser agreement with the vested owner identified at item 4 below Seller's Name(s): 234 West Francis LLC,a Delaware limited liability company Property: 234 West Francis Street,Aspen,CO 81611 Lot K,L,&M,Block 48,City and Townsite of Aspen,Pitkin County,Colorado TITLE CHARGES These charges are based on issuance of the policy or policies described in the attached Commitment for Title Insurance,and includes premiums for the proposed coverage amount(s)and endorsement(s)referred to therein,and may also include additional work and/or third party charges related thereto. If applicable,the designation of"Buyer"and"Seller"shown below may be based on traditional settlement practices in Pitkin County,Colorado, and/or certain terms of any contract,or other information provided with the Application for Title Insurance. Owner's Policy Premium: Loan Policy Premium: Additional Lender Charge(s): Additional Other Charge(s): Tax Certificate: Total Endorsement Charge(s): TBD Charge(s): $300.00 TOTAL CHARGES: $300.00 Title Company of the Rockies maintains branch operations in Eagle,Garfield,Grand,Lake,Moffat(dba Northwest Title Company),Pitkin,Routt,and Summit Counties along with Front Range coverage.Closing services are available for all Mountain Communities,throughout the State of Colorado,and on a nationwide basis. Experience the Experience,www.titlecorockies.com COMMITMENT FOR TITLE INSURANCE Issued by II TITLE COMPANY of the rockies as agent for Chicago Title Insurance Company SCHEDULE A Reference: Commitment Number: 0708423-C 1. Effective Date: October 11,2024,7:00 am Issue Date: October 22, 2024 2. Policy(or Policies)to be issued: ALTA®2021 Owner's Policy Policy Amount: Amount to be Determined Premium: Amount to be Determined Proposed Insured: Purchaser with contractual rights under a purchaser agreement with the vested owner identified at item 4 below 3. The estate or interest in the Land at the Commitment Date is Fee Simple. 4. The Title is, at the Commitment Date,vested in: 234 West Francis LLC, a Delaware limited liability company 5. The Land is described as follows: FOR LEGAL DESCRIPTION SEE SCHEDULE A CONTINUED ON NEXT PAGE For Informational Purposes Only-APN: 273512417003/R000021 Countersigned Title Company of the Rockies,LLC By: Staci Stamps This page is only a part of a 2016 ALTA Commitment for Title Insurance issued by Chicago Title Insurance Company. This Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A;Schedule B,Part I-Requirements;and Schedule B,Part II-Exceptions. Copyright 2006-2016 American Land Title Association. All rights reserved. AM RICAN The use of this Form(or any derivative thereof)is restricted to ALTA licensees and 1A11O 4»aciAno« ALTA members in good standing as of the date of use.All other uses are prohibited. Reprinted under license from the American Land Title Association. Commitment for Title Insurance(8-1-2016) Technical Correction 4-2-2018 Page 1 Schedule B-Part II American Land Title Association Commitment for Title Insurance 2021 v.01.00 (07-01-2021) Commitment No: 0708423-C SCHEDULE A(continued) LEGAL DESCRIPTION The Land referred to herein is located in the County of Pitkin, State of Colorado, and described as follows: Lots K,L and M,Block 48, CITY AND TOWNSITE OF ASPEN, County of Pitkin, State of Colorado For each policy to be issued as identified in Schedule A,Item 2, the Company shall not be liable under this commitment until it receives a specific designation of a Proposed Insured, and has revised this commitment identifying that Proposed Insured by name.As provided in Commitment Condition 4, the Company may amend this commitment to add, among other things, additional exceptions or requirements after the designation of the Proposed Insured. This page is only a part of a 2021 ALTA® Commitment for Title Insurance issued by Chicago Title Insurance Company. This Commitment is not valid without the Notice; the Commitment to Issue Policy; Schedule A;Schedule B, Part I-Requirements; and Schedule B, Part II-Exceptions; and a counter-signature by the Company or its issuing agent that may be in electronic form. Copyright 2021 American Land Title Association.All rights reserved. AM/NI(AN lAM The use of this Form(or any derivative thereof) is restricted to ALTA licensees and ""M"""" ALTA members in good standing as of the date of use. All other uses are prohibited. American Land Title Association Commitment for Title Insurance 2021 v.01.00 (07-01-2021) Commitment No: 0708423-C COMMITMENT FOR TITLE INSURANCE Issued by Chicago Title Insurance Company SCHEDULE B,PART I Requirements The following are the requirements to be complied with prior to the issuance of said policy or policies. Any other instrument recorded subsequent to the effective date hereof may appear as an exception under Schedule B of the policy to be issued. Unless otherwise noted, all documents must be recorded in the office of the clerk and recorded of the county in which said property is located. All of the following Requirements must be met: 1. The Proposed Insured must notify the Company in writing of the name of any party not referred to in this Commitment who will obtain an interest in the Land or who will make a loan on the Land. The Company may then make additional Requirements or Exceptions. 2. Pay the agreed amount for the estate or interest to be insured. 3. Pay the premiums,fees, and charges for the Policy to the Company. 4. Documents satisfactory to the Company that convey the Title or create the Mortgage to be insured, or both,must be properly authorized, executed,delivered, and recorded in the Public Records. NOTE: This commitment has been issued for informational purposes only and there are no requirements. The liability of the Company in terms of this Commitment is limited to the charges paid for the Commitment. THE COMPANY RESERVES THE RIGHT TO CONDUCT AN ADDITIONAL SEARCH OF THE RECORDS IN THE OFFICE OF THE CLERK AND RECORDER FOR PITKIN COUNTY, COLORADO FOR JUDGMENT LIENS, TAX LIENS OR OTHER SIMILAR OR DISSIMILAR INVOLUNTARY MATTERS AFFECTING THE GRANTEE OR GRANTEES,AND TO MAKE SUCH ADDITIONAL REQUIREMENTS AS IT DEEMS NECESSARY,AFTER THE IDENTITY OF THE GRANTEE OR GRANTEES HAS BEEN DISCLOSED TO THE COMPANY. This page is only a part of a 2021 ALTA® Commitment for Title Insurance issued by Chicago Title Insurance Company. This Commitment is not valid without the Notice; the Commitment to Issue Policy; Schedule A;Schedule B, Part I-Requirements; and Schedule B, Part II-Exceptions; and a counter-signature by the Company or its issuing agent that may be in electronic form. Copyright 2021 American Land Title Association.All rights reserved. AMI RICAN LAND 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. Ilk American Land Title Association Commitment for Title Insurance 2021 v.01.00 (07-01-2021) Commitment No: 0708423-C NOTE: THIS COMMITMENT IS ISSUED UPON THE EXPRESS AGREEMENT AND UNDERSTANDING THAT THE APPLICABLE PREMIUMS, CHARGES AND FEES SHALL BE PAID BY THE APPLICANT IF THE APPLICANT AND/OR ITS DESIGNEE OR NOMINEE CLOSES THE TRANSACTION CONTEMPLATED BY OR OTHERWISE RELIES UPON THE COMMITMENT,ALL IN ACCORDANCE WITH THE RULES AND SCHEDULES OF RATES ON FILE WITH THE COLORADO DEPARTMENT OF INSURANCE. This page is only a part of a 2021 ALTA Commitment for Title Insurance issued by Chicago Title Insurance Company. This Commitment is not valid without the Notice; the Commitment to Issue Policy; Schedule A;Schedule B, Part I-Requirements; and Schedule B, Part II-Exceptions; and a counter-signature by the Company or its issuing agent that may be in electronic form. Copyright 2021 American Land Title Association.All rights reserved. AM!RIC AN lAN The use of this Form(or any derivative thereof) is restricted to ALTA licensees and """"""" ALTA members in good standing as of the date of use. All other uses are prohibited. American Land Title Association Commitment for Title Insurance 2021 v.01.00 (07-01-2021) Commitment No: 0708423-C SCHEDULE B,PART II Exceptions Some historical land records contain Discriminatory Covenants that are illegal and unenforceable by law.This Commitment and the Policy treat any Discriminatory Covenant in a document referenced in Schedule B as if each Discriminatory Covenant is redacted,repudiated,removed, and not republished or recirculated. Only the remaining provisions of the document will be excepted from coverage. The Policy will not insure against loss or damage resulting from the terms and conditions of any lease or easement identified in Schedule A, and will include the following Exceptions unless cleared to the satisfaction of the Company: 1. Any facts,right, interests, or claims which are not shown by the Public Records but which could be ascertained by an inspection of said Land or by making inquiry of persons in possession thereof 2. Easements or claims of easements,not shown by the Public Records. 3. Any encroachment, encumbrance,violation,variation, or adverse circumstance affecting the Title that would be disclosed by an accurate and complete land survey of the Land. 4. Any lien, or right to a lien for services, labor or material heretofore or hereafter furnished, imposed by law and not shown by the Public Records. 5. Defects, liens, encumbrances,adverse claims or other matters, if any created, first appearing in the Public Records or attaching subsequent to the effective date hereof,but prior to the date of the proposed insured acquires of record for value the estate or interest or mortgage thereon covered by this Commitment. 6. (a)Taxes or assessments that are not shown as existing liens by the records of any taxing authority that levies taxes or assessments on real property or by the Public Records; (b) proceedings by a public agency that may result in taxes or assessments, or notices of such proceedings,whether or not shown by the records of such agency or by the Public Records. 7. Reservations and Exceptions as set forth in Deed from the City of Aspen recorded November 10, 1887 in Book 59 at Page 85 providing as follows: "That no title shall be hereby acquired to any mine or gold, silver,cinnabar or copper or to any valid mining claim or possession held under existing laws". This page is only a part of a 2021 ALTA Commitment for Title Insurance issued by Chicago Title Insurance Company. This Commitment is not valid without the Notice; the Commitment to Issue Policy; Schedule A;Schedule B, Part I-Requirements; and Schedule B, Part II-Exceptions; and a counter-signature by the Company or its issuing agent that may be in electronic form. Copyright 2021 American Land Title Association.All rights reserved. AM/NI(AN lAM The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ""M"""" ALTA members in good standing as of the date of use.All other uses are prohibited. American Land Title Association Commitment for Title Insurance 2021 v.01.00 (07-01-2021) Commitment No: 0708423-C 8. Reservations and Exceptions as set forth in Deed from the City of Aspen recorded December 5, 1887 in Book 59 at Page 122 providing as follows: "That no title shall be hereby acquired to any mine or gold, silver, cinnabar or copper or to any valid mining claim or possession held under existing laws". 9. Terms,conditions,provisions and obligations contained in the Accessory Dwelling Unit Deed Restriction recorded July 7, 1993 in Book 717 at Page 197 as Reception No. 358580 and re-recorded October 20, 1993 in Book 727 at Page 572 as Reception No. 362262. 10. Terms,conditions,provisions and obligations contained in the Curb and Gutter Improvement Agreement,recorded May 12, 1994 in Book 750 at Page 360 as Reception No. 369976, and recorded September 13, 1999 as Reception No.435425. 11. Terms,conditions,provisions and obligations contained in the Resolution No. 27, Series of 1999, recorded June 21, 1999 as Reception No.432431. 12. Easements,rights of way and all other matters as shown on the Improvement Survey Plat recorded February 24,2020 in Plat Book 128 at Page 13 as Reception No. 663007. 13. Terms,conditions,provisions and obligations contained in the City of Aspen Notice of Approval, recorded August 2,2019 as Reception No. 657651. 14. Terms,conditions,provisions and obligations contained in the Resolution No. 14, Series of 2020, recorded August 28,2020 as Reception No. 667469. 15. Terms,conditions,provisions and obligations contained in the Resolution#5, Series of 2020 recorded October 14, 2021 as Reception No. 681503. NOTE: Effective May 24th, 2023,the Company and its policy issuing agents are required by Federal law to collect additional information about certain transactions in specified geographic areas in accordance with the Bank Secrecy Act. If this transaction is required to be reported under a Geographic Targeting Order issued by FinCEN,the Company or its policy issuing agent must be supplied with a completed ALTA Information Collection Form("ICF")prior to closing the transaction contemplated herein. This affects the following counties,Adams,Arapahoe, Clear Creek,Denver,Douglas, Eagle,Elbert,El Paso, Fremont,Jefferson,Mesa,Pitkin,Pueblo, and Summit. This page is only a part of a 2021 ALTA Commitment for Title Insurance issued by Chicago Title Insurance Company. This Commitment is not valid without the Notice; the Commitment to Issue Policy; Schedule A;Schedule B, Part I-Requirements; and Schedule B, Part II-Exceptions; and a counter-signature by the Company or its issuing agent that may be in electronic form. Copyright 2021 American Land Title Association.All rights reserved. AM/NI(AN lAM The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ""M"""" ALTA members in good standing as of the date of use.All other uses are prohibited. Commitment No: 0708423-C DISCLOSURE STATEMENTS Note 1: Colorado Division of Insurance Regulations 3-5-1,Paragraph C of Article VII,requires that "Every Title entity shall be responsible for all matters which appear of record prior to the time of recording whenever the Title entity conducts the closing and is responsible for recording or filing of legal documents resulting from the transaction which was closed."(Gap Protection) Note 2: Exception No. 4 of Schedule B, Section 2 of this Commitment may be deleted from the Owner's Policy to be issued hereunder upon compliance with the following conditions: 1. The Land described in Schedule A of this commitment must be a single-family residence, which includes a condominium or townhouse unit. 2. No labor or materials may have been furnished by mechanics or materialmen for purpose of construction on the Land described in Schedule A of this Commitment within the past 13 months. 3. The Company must receive an appropriate affidavit indemnifying the Company against unfiled mechanic's and materialmen's liens. 4. Any deviation from conditions A though C above is subject to such additional requirements or Information as the Company may deem necessary, or,at its option,the Company may refuse to delete the exception. 5. Payment of the premium for said coverage. Note 3: The following disclosures are hereby made pursuant to §10-11-122, C.R.S.: (i) The subject real property may be located in a special taxing district; (ii) A certificate of taxes due listing each taxing jurisdiction shall be obtained from the County Treasurer or the County Treasurer's authorized agent; and (iii)Information regarding special districts and the boundaries of such districts may be obtained from the County Commissioners,the County Clerk and Recorder, or the County Assessor. Note 4: If the sales price of the subject property exceeds $100,000.00, the seller shall be required to comply with the disclosure or withholding provisions of C.R.S. §39-22-604.5 (Non-resident withholding). Note 5: Pursuant to C.R.S. §10-11-123 Notice is hereby given: (a) If there is recorded evidence that a mineral estate has been severed, leased or otherwise conveyed from the surface estate then there is a substantial likelihood that a third party holds some or all interest in oil, gas, other minerals, or geothermal energy in the property,and (b) That such mineral estate may include the right to enter and use the property without the surface owner's permission. Note 6: Effective September 1, 1997, C.R.S. §30-10-406 requires that all documents received for recording or filing in the clerk and recorder's office shall contain a top margin of at least one inch and a left, right and bottom margin of at least one-half inch the clerk and recorder may refuse to record or file any document that does not conform. Note 7: Our Privacy Policy: We will not reveal nonpublic personal customer information to any external non-affiliated organization unless we have been authorized by the customer,or are required by law. Note 8: Records: Regulation 3-5-1 Section 7 (N)provides that each title entity shall maintain adequate documentation and Page 7 Commitment No: 0708423-C records sufficient to show compliance with this regulation and Title 10 of the Colorado Revised Statutes for a period of not less than seven(7)years, except as otherwise permitted by law. Note 9: Pursuant Regulation 3-5-1 Section 9 (F) notice is hereby given that "A title entity shall not earn interest on fiduciary funds unless disclosure is made to all necessary parties to a transaction that interest is or has been earned. Said disclosure must offer the opportunity to receive payment of any interest earned on such funds beyond any administrative fees as may be on file with the division. Said disclosure must be clear and conspicuous, and may be made at any time up to and including closing." Be advised that the closing agent will or could charge an Administrative Fee for processing such an additional services request and any resulting payee will also be subjected to a W-9 or other required tax documentation for such purpose(s). Be further advised that, for many transactions, the imposed Administrative Fee associated with such an additional service may exceed any such interest earned. Therefore, you may have the right to some of the interest earned over and above the Administrative Fee, if applicable(e.g., any money over any administrative fees involved in figuring the amounts earned). Note 10: Pursuant to Regulation 3-5-1 Section 9(G)notice is hereby given that "Until a title entity receives written instructions pertaining to the holding of fiduciary funds, in a form agreeable to the title entity, it shall comply with the following: 1. The title entity shall deposit funds into an escrow, trust, or other fiduciary account and hold them in a fiduciary capacity. 2. The title entity shall use any funds designated as "earnest money"for the consummation of the transaction as evidenced by the contract to buy and sell real estate applicable to said transaction, except as otherwise provided in this section. If the transaction does not close, the title entity shall: (a) Release the earnest money funds as directed by written instructions signed by both the buyer and seller; or (b) If acceptable written instructions are not received,uncontested funds shall be held by the title entity for 180 days from the scheduled date of closing,after which the title entity shall return said funds to the payor. 3. In the event of any controversy regarding the funds held by the title entity (notwithstanding any termination of the contract), the title entity shall not be required to take any action unless and until such controversy is resolved. At its option and discretion,the title entity may: (a) Await any proceeding; or (b) Interplead all parties and deposit such funds into a court of competent jurisdiction, and recover court costs and reasonable attorney and legal fees; or (c) Deliver written notice to the buyer and seller that unless the title entity receives a copy of a summons and complaint or claim (between buyer and seller), containing the case number of the lawsuit or lawsuits, within 120 days of the title entity's written notice delivered to the parties,title entity shall return the funds to the depositing party." Page 8 Commitment No: 0708423-C DISCLOSURE STATEMENT • Pursuant to Section 38-35-125 of Colorado Revised Statutes and Colorado Division of Insurance Regulation 8-1-2 (Section 5), if the parties to the subject transaction request us to provide escrow-settlement and disbursement services to facilitate the closing of the transaction,then all funds submitted for disbursement must be available for immediate withdrawal. • Colorado Division of Insurance Regulation 8-1-2, Section 5,Paragraph H,requires that"Every title insurance company shall be responsible to the proposed insured(s) subject to the terms and conditions of the title insurance commitment, other than the effective date of the title insurance 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 owners policy of title insurance and is responsible for the recording and filing of legal documents resulting from the transaction which was closed". Provided that Title Company of the Rockies,LLC conducts the closing of the insured transaction and is responsible for recording the legal documents from the transaction,exception No. 5 in Schedule B-2 will not appear in the Owner's Title Policy and Lender's Title Policy when issued. • Colorado Division of Insurance Regulation 8-1-2, Paragraph M of Section 5,requires that prospective insured(s)of a single family residence be notified in writing that the standard exception from coverage for unfiled Mechanics or Materialmans Liens may or may not be deleted upon the satisfaction of the requirement(s)pertinent to the transaction. These requirements will be addressed upon receipt of a written request to provide said coverage,or if the Purchase and Sale Agreement/Contract is provided to the Company then the necessary requirements will be reflected on the commitment. • Colorado Division of Insurance Regulation 8-1-3,Paragraph C. 11.f. of Section 5 -requires a title insurance company to make the following notice to the consumer: "A closing protection letter is available to be issued to lenders,buyers and sellers" • If the sales price of the subject property exceeds$100,000.00 the seller shall be required to comply with the Disclosure of Withholding Provisions of C.R.S. 39-22-604.5 (Nonresident Withholding). • Section 39-14-102 of Colorado Revised Statutes 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. • Recording statutes contained in Section 30-10-406(3)(a) of the Colorado Revised Statutes require that all documents received for recording or filing in the clerk and recorder's office shall contain a top margin of at least one inch and a left, right, and bottom margin of at least one-half of an inch. The clerk and recorder may refuse to record or file a document that does not conform to requirements of this paragraph. • Section 38-35-109 (2)of the Colorado Revised Statutes, 1973,requires that a notation of the purchasers legal address, (not necessarily the same as the property address)be included on the face of the deed to be recorded. • Regulations of County Clerk and Recorder's offices require that all documents submitted for recording must contain a return address on the front page of every document being recorded. • Pursuant to Section 10-11-122 of the Colorado Revised Statutes, 1987 the Company is required to disclose the following information: Page 9 Commitment No: 0708423-C o The subject property may be located in a special taxing district. o A Certificate of Taxes Due listing each taxing jurisdiction shall be obtained from the County Treasurer or the County Treasurer's authorized agent. o 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. • Pursuant to Section 10-11-123 of the Colorado Revised Statutes,when it is determined that a mineral estate has been severed from the surface estate,the Company is required to disclose the following information: 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 that such mineral estate may include the right to enter and use the property without the surface owner's permission. Note:Notwithstanding anything to the contrary in this Commitment, if the policy to be issued is other than an ALTA Owner's Policy(6/17/06),the policy may not contain an arbitration clause, or the terms of the arbitration clause may be different from those set forth in this Commitment. If the policy does contain an arbitration clause, and the Amount of Insurance is less than the amount, if any, set forth in the arbitration clause, all arbitrable matters shall be arbitrated at the option of either the Company or the Insured as the exclusive remedy of the parties. Page 10 ALTA COMMITMENT FOR TITLE INSURANCE issued by CHICAGO 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, Chicago Title Insurance Company,a Florida corporation(the"Company"),commits to issue the Policy according to the terms and provisions of this Commitment.This Commitment is effective as of the Commitment Date shown in Schedule A for each Policy described in Schedule A,only when the Company has entered in Schedule A both the specified dollar amount as the Proposed Amount of Insurance and the name of the Proposed Insured. If all of the Schedule B, Part I—Requirements have not been met within 180 days after the Commitment Date, this Commitment terminates and the Company's liability and obligation end. CHICAGO TITLE INSURANCE/J COMPANY Br i��"'IC/// Michael J.Nolan President ATTEST'7*(7;U Marjorie Nemzur"a Secretary This page is only a part of a 2021 ALTA Commitment for Title Insurance issued by Chicago Title Insurance Company. This Commitment is not valid without the Notice; the Commitment to Issue Policy; Schedule A; Schedule B, Part I-Requirements; and Schedule B, Part II-Exceptions;and a counter-signature by the Company or its issuing agent that may be in electronic form. Copyright 2021 American Land Title Association.All rights reserved. AMI RICAN The use of this Form(or any derivative thereof)is restricted to ALTA licensees and 1AMD 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. 0 CHICAGO TITLE INSURANCE COMPANY COMMITMENT CONDITIONS 1. DEFINITIONS a. "Discriminatory Covenant": Any covenant, condition, restriction, or limitation that is unenforceable under applicable law because it illegally discriminates against a class of individuals based on personal characteristics such as race,color,religion,sex,sexual orientation,gender identity,familial status,disability,national origin,or other legally protected class. b. "Knowledge" or "Known":Actual knowledge or actual notice, but not constructive notice imparted by the Public Records. c. "Land": The land described in Item 5 of Schedule A and improvements located on that land that by State law constitute real property. The term"Land"does not include any property beyond that described in Schedule A, nor any right, title,interest, estate, or easement in any abutting street, road,avenue, alley, lane,right-of-way, body of water,or waterway,but does not modify or limit the extent that a right of access to and from the Land is to be insured by the Policy. d. "Mortgage": A mortgage, deed of trust, trust deed, security deed, or other real property security instrument, including one evidenced by electronic means authorized by law. e. "Policy": Each contract of title insurance, in a form adopted by the American Land Title Association,issued or to be issued by the Company pursuant to this Commitment. f. "Proposed Amount of Insurance": Each dollar amount specified in Schedule A as the Proposed Amount of Insurance of each Policy to be issued pursuant to this Commitment. g. "Proposed Insured": Each person identified in Schedule A as the Proposed Insured of each Policy to be issued pursuant to this Commitment. h. "Public Records":The recording or filing system established under State statutes in effect at the Commitment Date under which a document must be recorded or filed to impart constructive notice of matters relating to the Title to a purchaser for value without Knowledge. The term "Public Records"does not include any other recording or filing system, including any pertaining to environmental remediation or protection, planning, permitting,zoning,licensing,building,health,public safety,or national security matters. i. "State": The state or commonwealth of the United States within whose exterior boundaries the Land is located. The term "State"also includes the District of Columbia,the Commonwealth of Puerto Rico,the U.S. Virgin Islands,and Guam. j. "Title": The estate or interest in the Land identified in Item 3 of Schedule A. 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; This page is only a part of a 2021 ALTA Commitment for Title Insurance issued by Chicago Title Insurance Company. This Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I—Requirements;and Schedule B,Part II—Exceptions;and a counter-signature by the Company or its issuing agent that may be in electronic form. 72C170B ALTA Commitment for Title Insurance(7-1-21) Copyright 2021 American Land Title Association.All rights reserved. AMERICAN LAND TITLE The use of this Form(or any derivative thereof)is restricted to ALTA licensees and ASSOCIATION 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. 0 CHICAGO TITLE INSURANCE COMPANY e. Schedule B,Part I—Requirements;and f. Schedule B,Part II—Exceptions;and g• a counter-signature by the Company or its issuing agent that may be in electronic form. 4. COMPANY'S RIGHT TO AMEND The Company may amend this Commitment at any time. If the Company amends this Commitment to add a defect, lien,encumbrance, adverse claim, or other matter recorded in the Public Records prior to the Commitment Date, any liability of the Company is limited by Commitment Condition 5.The Company is not 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 Insureds 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 is not 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 is only liable 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 does not exceed the lesser of the Proposed Insured's actual expense incurred in good faith and described in Commitment Condition 5.a.or the Proposed Amount of Insurance. e. The Company is not liable for the content of the Transaction Identification Data,if any. f. The Company is not obligated to issue the Policy referred to in this Commitment unless all of the Schedule B, Part I—Requirements have been met to the satisfaction of the Company. g. The Company's liability is further limited by the terms and provisions of the Policy to be issued to the Proposed Insured. 6. LIABILITY OF THE COMPANY MUST BE BASED ON THIS COMMITMENT; CHOICE OF LAW AND CHOICE OF FORUM a. Only a Proposed Insured identified in Schedule A, and no other person, may make a claim under this Commitment. b. Any claim must be based in contract under the State law of the State where the Land is located and is restricted to the terms and provisions of this Commitment.Any litigation or other proceeding brought by the Proposed Insured against the Company must be filed only in a State or federal court having jurisdiction. c. This Commitment,as last revised, is the exclusive and entire agreement between the parties with respect to the subject matter of this Commitment and supersedes all prior commitment negotiations, representations, and proposals of any kind, whether written or oral, express or implied, relating to the subject matter of this Commitment. This page is only a part of a 2021 ALTA Commitment for Title Insurance issued by Chicago Title Insurance Company. This Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I—Requirements;and Schedule B,Part II—Exceptions;and a counter-signature by the Company or its issuing agent that may be in electronic form. 72C170B ALTA Commitment for Title Insurance(7-1-21) Copyright 2021 American Land Title Association.All rights reserved. AMERICAN LAND TITLE The use of this Form(or any derivative thereof)is restricted to ALTA licensees and ASSOCIATION 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. © CHICAGO TITLE INSURANCE COMPANY 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 IS 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 closing,settlement,escrow,or any other purpose. 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. CLAIMS PROCEDURES This Commitment incorporates by reference all Conditions for making a claim in the Policy to be issued to the Proposed Insured.Commitment Condition 9 does not modify the limitations of liability in Commitment Conditions 5 and 6. 10. CLASS ACTION ALL CLAIMS AND DISPUTES ARISING OUT OF OR RELATING TO THIS COMMITMENT, INCLUDING ANY SERVICE OR OTHER MATTER IN CONNECTION WITH ISSUING THIS COMMITMENT, ANY BREACH OF A COMMITMENT PROVISION, OR ANY OTHER CLAIM OR DISPUTE ARISING OUT OF OR RELATING TO THE TRANSACTION GIVING RISE TO THIS COMMITMENT, MUST BE BROUGHT IN AN INDIVIDUAL CAPACITY.NO PARTY MAY SERVE AS PLAINTIFF, CLASS MEMBER, OR PARTICIPANT IN ANY CLASS OR REPRESENTATIVE PROCEEDING. ANY POLICY ISSUED PURSUANT TO THIS COMMITMENT WILL CONTAIN A CLASS ACTION CONDITION. 11. ARBITRATION The Policy contains an arbitration clause. All arbitrable matters when the Proposed Amount of Insurance is $2,000,000 or less may be arbitrated at the election of either the Company or the Proposed Insured as the exclusive remedy of the parties. A Proposed Insured may review a copy of the arbitration rules at http://www.alta.org/arbitration This page is only a part of a 2021 ALTA Commitment for Title Insurance issued by Chicago Title Insurance Company. This Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A;Schedule B, Part I—Requirements;and Schedule B,Part II—Exceptions;and a counter-signature by the Company or its issuing agent that may be in electronic form. 72C170B ALTA Commitment for Title Insurance(7-1-21) Copyright 2021 American Land Title Association.All rights reserved. AMERICAN LAND TITLE The use of this Form(or any derivative thereof)is restricted to ALTA licensees and ASSOCIATION 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. Anti-Fraud Statement 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. This anti-fraud statement is affixed to and made a part of this policy.