HomeMy WebLinkAbout03 - Title CommitmentLand Title Guarantee Company
Customer Distribution
PREVENT FRAUD - Please remember to call a member of our closing team when
initiating a wire transfer or providing wiring instructions.
Order Number:ABS62010825-4 Date: 03/19/2021
Property Address:10 CLUB CIRCLE, ASPEN, CO 81611
PLEASE CONTACT YOUR CLOSER OR CLOSER'S ASSISTANT FOR WIRE TRANSFER INSTRUCTIONS
For Closing Assistance For Title Assistance
George Rietsch
5975 GREENWOOD PLAZA BLVD
GREENWOOD VILLAGE, CO 80111
(303) 850-4151 (Work)
grietsch@ltgc.com
PEAK SURVEYING INC
Attention: JASON NEIL
110 E 3RD ST #204
PO BOX 1746
RIFLE, CO 81650
(970) 987-1382 (Cell)
(970) 625-1954 (Work)
(970) 625-2954 (Work Fax)
jason@peaksurveyinginc.com
Delivered via: Electronic Mail
Land Title Guarantee Company
Estimate of Title Fees
Order Number:ABS62010825-4 Date: 03/19/2021
Property Address:10 CLUB CIRCLE, ASPEN, CO 81611
Parties:A BUYER TO BE DETERMINED
MAROON CREEK, LLC, A COLORADO LIMITED LIABILITY COMPANY, ALSO KNOWN
AS MAROON CREEK LIMITED LIABILITY COMPANY, A COLORADO LIMITED LIABILITY
COMPANY
Visit Land Title's Website at www.ltgc.com for directions to any of our offices.
Estimate of Title insurance Fees
"TBD" Commitment $217.00
TBD - TBD Income $-217.00
Total $0.00
If Land Title Guarantee Company will be closing this transaction, the fees listed above will be collected at
closing.
Thank you for your order!
Note: The documents linked in this commitment should be reviewed carefully. These documents, such as covenants
conditions and restrictions, may affect the title, ownership and use of the property. You may wish to engage legal
assistance in order to fully understand and be aware of the implications of the effect of these documents on your
property.
Chain of Title Documents:
Pitkin county recorded 11/30/2011 under reception no.
584727
Plat Map(s):
Pitkin county recorded 11/15/1993 at book 33 page 4
Pitkin county recorded 03/31/1994 at book 34 page 23
Pitkin county recorded 09/27/1996 under reception no.
397484
Pitkin county recorded 08/09/2002 under reception no.
470808
Copyright 2006-2021 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.
Property Address:
10 CLUB CIRCLE, ASPEN, CO 81611
1.Effective Date:
03/05/2021 at 5:00 P.M.
2.Policy to be Issued and Proposed Insured:
"TBD" Commitment
Proposed Insured:
A BUYER TO BE DETERMINED
$0.00
3.The estate or interest in the land described or referred to in this Commitment and covered herein is:
A Fee Simple
4.Title to the estate or interest covered herein is at the effective date hereof vested in:
MAROON CREEK, LLC, A COLORADO LIMITED LIABILITY COMPANY, ALSO KNOWN AS MAROON CREEK
LIMITED LIABILITY COMPANY, A COLORADO LIMITED LIABILITY COMPANY
5.The Land referred to in this Commitment is described as follows:
LOT 51, MAROON CREEK CLUB, AS SHOWN ON THE FINAL PLAT AND PUD FOR MAROON CREEK CLUB,
RECORDED NOVEMBER 15, 1993 IN PLAT BOOK 33 AT PAGE 4 AND AS PARTIALLY CORRECTED BY
INSTRUMENT RECORDED MARCH 31, 1994 IN PLAT BOOK 34 AT PAGE 23 AND MAP RECORDED
SEPTEMBER 27, 1996 UNDER RECEPTION NO. 397484 AND FURTHER AMENDED BY HARMONY ROAD
PLAT RECORDED AUGUST 9, 2002 UNDER RECEPTION NO. 470808, COUNTY OF PITKIN, STATE OF
COLORADO.
ALTA COMMITMENT
Old Republic National Title Insurance Company
Schedule A
Order Number:ABS62010825-4
ALTA COMMITMENT
Old Republic National Title Insurance Company
Schedule B, Part I
(Requirements)
Order Number: ABS62010825-4
All of the following Requirements must be met:
This 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.
Pay the agreed amount for the estate or interest to be insured.
Pay the premiums, fees, and charges for the Policy to the Company.
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.
1.RELEASE OF DEED OF TRUST DATED OCTOBER 08, 1996 FROM MAROON CREEK LIMITED LIABILITY
COMPANY, A COLORADO LIMITED LIABILITY COMPANY TO THE PUBLIC TRUSTEE OF PITKIN COUNTY
FOR THE USE OF CAROLINA FIRST BANK TO SECURE THE SUM OF $4,900,000.00 RECORDED OCTOBER
16, 1996, UNDER RECEPTION NO. 398113.
2.RELEASE OF DEED OF TRUST DATED NOVEMBER 12, 1996 FROM MAROON CREEK LIMITED LIABILITY
COMPANY, A COLORADO LIMITED LIABILITY COMPANY TO THE PUBLIC TRUSTEE OF PITKIN COUNTY
FOR THE USE OF CAROLINA FIRST BANK TO SECURE THE SUM OF $4,900,000.00 RECORDED
NOVEMBER 27, 1996, UNDER RECEPTION NO. 399476.
3.PARTIAL RELEASE OF DEED OF TRUST DATED OCTOBER 15, 1997 FROM MAROON CREEK LIMITED
LIABILITY COMPANY, A COLORADO LIMITED LIABILITY COMPANY TO THE PUBLIC TRUSTEE OF PITKIN
COUNTY FOR THE USE OF TEXTRON FINANCIAL CORPORATION TO SECURE THE SUM OF
$15,000,000.00 RECORDED OCTOBER 15, 1997, UNDER RECEPTION NO. 409454.
SAID DEED OF TRUST WAS FURTHER SECURED IN ASSIGNMENT OF RENTS RECORDED OCTOBER 15,
1997, UNDER RECEPTION NO. 409455.
AMENDMENT AGREEMENT IN CONNECTION WITH SAID DEED OF TRUST WAS RECORDED APRIL 04,
2002 UNDER RECEPTION NO. 465963.
AMENDMENT AGREEMENT IN CONNECTION WITH SAID DEED OF TRUST WAS RECORDED AUGUST 31,
1999, UNDER RECEPTION NO. 435077.
AMENDMENT AGREEMENT IN CONNECTION WITH SAID DEED OF TRUST WAS RECORDED MAY 20, 1999
UNDER RECEPTION NO. 431337.
4.PARTIAL TERMINATION OF FINANCING STATEMENT BY ANB BANK, THE SECURED PARTY, RECORDED
FEBRUARY 21, 2014, UNDER RECEPTION NO. 608128 AND CONTINUED BY AMENDMENT RECORDED
DECEMBER 28, 2018 UNDER RECEPTION NO. 653005.
5.PARTIAL RELEASE OF DEED OF TRUST DATED FEBRUARY 13, 2014, FROM MAROON CREEK LIMITED
LIABILITY COMPANY, A COLORADO LIMITED LIABILITY COMPANY TO THE PUBLIC TRUSTEE OF PITKIN
COUNTY FOR THE USE OF ANB BANK TO SECURE THE SUM OF $6,000,000.00 RECORDED FEBRUARY
14, 2014, UNDER RECEPTION NO. 607993.
MODIFICATION AGREEMENT IN CONNECTION WITH SAID DEED OF TRUST WAS RECORDED APRIL 10,
2017 UNDER RECEPTION NO. 637434.
MODIFICATION AGREEMENT IN CONNECTION WITH SAID DEED OF TRUST WAS RECORDED MARCH 12,
2018 UNDER RECEPTION NO. 645754.
MODIFICATION AGREEMENT IN CONNECTION WITH SAID DEED OF TRUST WAS RECORDED DECEMBER
21, 2020 UNDER RECEPTION NO. 671744.
6.A FULL COPY OF THE FULLY EXECUTED OPERATING AGREEMENT AND ANY AND ALL AMENDMENTS
THERETO FOR MAROON CREEK, LLC, A COLORADO LIMITED LIABILITY COMPANY MUST BE
FURNISHED TO LAND TITLE GUARANTEE COMPANY. SAID AGREEMENT MUST DISCLOSE WHO MAY
CONVEY, ACQUIRE, ENCUMBER, LEASE OR OTHERWISE DEAL WITH INTERESTS IN REAL PROPERTY
FOR SAID ENTITY.
NOTE: ADDITIONAL REQUIREMENTS MAY BE NECESSARY UPON REVIEW OF THIS DOCUMENTATION.
7.DULY EXECUTED AND ACKNOWLEDGED STATEMENT OF AUTHORITY SETTING FORTH THE NAME OF
MAROON CREEK, LLC, A COLORADO LIMITED LIABILITY COMPANY AS A LIMITED LIABILITY COMPANY.
THE STATEMENT OF AUTHORITY MUST STATE UNDER WHICH LAWS THE ENTITY WAS CREATED, THE
MAILING ADDRESS OF THE ENTITY, AND THE NAME AND POSITION OF THE PERSON(S) AUTHORIZED
TO EXECUTE INSTRUMENTS CONVEYING, ENCUMBERING, OR OTHERWISE AFFECTING TITLE TO REAL
PROPERTY ON BEHALF OF THE ENTITY AND OTHERWISE COMPLYING WITH THE PROVISIONS OF
SECTION 38-30-172, CRS.
NOTE: THE STATEMENT OF AUTHORITY MUST BE RECORDED WITH THE CLERK AND RECORDER.
8.WARRANTY DEED FROM MAROON CREEK, LLC, A COLORADO LIMITED LIABILITY COMPANY, ALSO
KNOWN AS MAROON CREEK LIMITED LIABILITY COMPANY, A COLORADO LIMITED LIABILITY COMPANY
TO A BUYER TO BE DETERMINED CONVEYING SUBJECT PROPERTY.
NOTE: ADDITIONAL REQUIREMENTS OR EXCEPTIONS MAY BE NECESSARY WHEN THE BUYERS
NAMES ARE ADDED TO THIS COMMITMENT. COVERAGES AND/OR CHARGES REFLECTED HEREIN, IF
ANY, ARE SUBJECT TO CHANGE UPON RECEIPT OF THE CONTRACT TO BUY AND SELL REAL ESTATE
AND ANY AMENDMENTS THERETO.
ALTA COMMITMENT
Old Republic National Title Insurance Company
Schedule B, Part I
(Requirements)
Order Number: ABS62010825-4
All of the following Requirements must be met:
This commitment does not republish any covenants, condition, restriction, or limitation contained in any
document referred to in this commitment to the extent that the specific covenant, conditions, restriction,
or limitation violates state or federal law based on race, color, religion, sex, sexual orientation, gender
identity, handicap, familial status, or national origin.
1.Any facts, rights, interests, or claims thereof, not shown by the Public Records but that could be
ascertained by an inspection of the Land or that may be asserted by persons in possession of the Land.
2.Easements, liens or encumbrances, or claims thereof, 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 and not shown by the Public
Records.
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.(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.
8.RIGHT OF 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 MAY 20, 1953 IN BOOK 180 AT PAGE 155.
9.RIGHT OF WAY FOR DITCHES OR CANALS CONSTRUCTED BY THE AUTHORITY OF THE UNITED
STATES AS RESERVED IN UNITED STATES PATENT RECORDED JUNE 16, 1944 IN BOOK 167 AT PAGE
562, AND RECORDED MAY 20, 1953 IN BOOK 180 AT PAGE 155.
10.TERMS, CONDITIONS AND PROVISIONS OF RESOLUTION NO. 93-104 RECORDED AUGUST 13, 1993 IN
BOOK 721 AT PAGE 245.
11.TERMS, CONDITIONS, AND PROVISIONS OF SUBDIVIDER'S AGREEMENT AS CONTAINED IN
INSTRUMENT RECORDED NOVEMBER 12, 1993, IN BOOK 730 AT PAGE 606 AND AMENDMENT
RECORDED MARCH 10, 2000 UNDER RECEPTION NO. 441279.
12.TERMS, CONDITIONS AND PROVISIONS OF PUBLIC ACCESS EASEMENT RECORDED NOVEMBER 12,
1993 IN BOOK 730 AT PAGE 655.
13.TERMS, CONDITIONS AND PROVISIONS OF DEDICATION AGREEMENT FOR ROADS RECORDED
NOVEMBER 12, 1993 IN BOOK 730 AT PAGE 662.
ALTA COMMITMENT
Old Republic National Title Insurance Company
Schedule B, Part II
(Exceptions)
Order Number: ABS62010825-4
14.TERMS, CONDITIONS AND PROVISIONS OF AVIGATION EASEMENT RECORDED NOVEMBER 12, 1993 IN
BOOK 730 AT PAGE 690.
15.TERMS, CONDITIONS AND PROVISIONS OF WATER SERVICE AGREEMENT RECORDED NOVEMBER 15,
1993 IN BOOK 730 AT PAGE 797.
16.EASEMENTS, RIGHTS OF WAY AND OTHER MATTERS AS SET FORTH ON THE PLAT OF SUBJECT
PROPERTY RECORDED NOVEMBER 15, 1993 IN PLAT BOOK 33 AT PAGE 4 AND AS PARTIALLY
CORRECTED BY INSTRUMENT RECORDED MARCH 31, 1994 IN PLAT BOOK 34 AT PAGE 23 AND MAP
RECORDED SEPTEMBER 27, 1996 UNDER RECEPTION NO. 397484 AND FURTHER AMENDED BY
HARMONY ROAD PLAT RECORDED AUGUST 9, 2002 UNDER RECEPTION NO. 470808.
17.MASTER DECLARATION OF PROTECTIVE COVENANTS FOR MAROON CREEK CLUB, WHICH DO NOT
CONTAIN A FORFEITURE OR REVERTER CLAUSE, BUT OMITTING ANY COVENANTS OR
RESTRICTIONS, IF ANY, BASED UPON RACE, COLOR, RELIGION, SEX, SEXUAL ORIENTATION,
FAMILIAL STATUS, MARITAL STATUS, DISABILITY, HANDICAP, NATIONAL ORIGIN, ANCESTRY, OR
SOURCE OF INCOME, AS SET FORTH IN APPLICABLE STATE OR FEDERAL LAWS, EXCEPT TO THE
EXTENT THAT SAID COVENANT OR RESTRICTION IS PERMITTED BY APPLICABLE LAW AS CONTAINED
IN INSTRUMENT RECORDED DECEMBER 02, 1993, IN BOOK 733 AT PAGE 598 AND AS AMENDED IN
INSTRUMENT RECORDED FEBRUARY 17, 1994, IN BOOK 742 AT PAGE 83 AND SECOND AMENDMENT
RECORDED JUNE 8, 1994 IN BOOK 752 AT PAGE 754 AND THIRD AMENDMENT RECORDED JULY 19,
1994 IN BOOK 755 AT PAGE 883 AND AMENDED AND RESTATED THIRD AMENDMENT RECORDED JULY
26, 1994 IN BOOK 756 AT PAGE 597 AND FOURTH AMENDMENT RECORDED SEPTEMBER 12, 1996
UNDER RECEPTION NO. 396947.
ASSIGNMENT AND DESIGNATION OF SUCCESSOR DECLARANT RECORDED MAY 11, 1994 IN BOOK 750
AT PAGE 242.
18.TERMS, CONDITIONS AND PROVISIONS OF DECLARATION OF RESTRICTIVE COVENANTS RECORDED
DECEMBER 22, 1993 IN BOOK 736 AT PAGE 335.
19.TERMS, CONDITIONS AND PROVISIONS OF TRENCH, CONDUIT, AND VAULT AGREEMENT GRANTED
TO HOLY CROSS ELECTRIC ASSOCIATION RECORDED JULY 11, 1994 AT RECEPTION NO. 371946.
20.TERMS, CONDITIONS AND PROVISIONS OF ASSIGNMENT OF ROAD MAINTENANCE AGREEMENTS
RECORDED SEPTEMBER 03, 1996 AT RECEPTION NO. 396644.
21.TERMS, CONDITIONS AND PROVISIONS OF INSUBSTANTIAL PUD AMENDMENT RECORDED
DECEMBER 19, 1996 AT RECEPTION NO. 400129.
22.TERMS, CONDITIONS AND PROVISIONS OF MAROON CREEK SUBDIVISION (SOUTH) ANNEXATION
RECORDED FEBRUARY 06, 1997 IN BOOK 41 AT PAGE 76.
23.TERMS, CONDITIONS AND PROVISIONS OF MAROON CREEK SUBDIVISION (NORTH) ANNEXATION
RECORDED FEBRUARY 6, 1997 IN BOOK 41 PAGE 77.
24.TERMS, CONDITIONS AND PROVISIONS OF EASEMENT AGREEMENT RECORDED FEBRUARY 21, 1997
AT RECEPTION NO. 401986.
25.TERMS, CONDITIONS AND PROVISIONS OF ORDINANCE# 34, SERIES OF 1996 RECORDED FEBRUARY
21, 1997 AT RECEPTION NO. 401985.
ALTA COMMITMENT
Old Republic National Title Insurance Company
Schedule B, Part II
(Exceptions)
Order Number: ABS62010825-4
26.TERMS, CONDITIONS AND PROVISIONS OF ORDINANCE# 40, SERIES OF 1996 RECORDED APRIL 08,
1997 AT RECEPTION NO. 403224.
27.ALL MATTERS SHOWN ON THE ALTA TITLE SURVEY OF SUBJECT PROPERTY RECORDED NOVEMBER
18, 1997 UNDER RECEPTION NO. 410803.
28.TERMS, CONDITIONS AND PROVISIONS OF RESOLUTION NO. 24 RECORDED MAY 04, 1998 AT
RECEPTION NO. 416475.
29.TERMS, CONDITIONS AND PROVISIONS OF AGREEMENT RECORDED SEPTEMBER 22, 1999 AT
RECEPTION NO. 435797.
30.EASEMENTS AND RIGHTS OF WAY AS GRANTED TO HOLY CROSS ELECTRIC ASSOCIATION, INC. IN
INSTRUMENT RECORDED DECEMBER 8, 1999 UNDER RECEPTION NO. 438373.
31.TERMS, CONDITIONS AND PROVISIONS OF CONTRACT FOR SERVICE RECORDED FEBRUARY 01, 2000
AT RECEPTION NO. 440028.
32.TERMS, CONDITIONS AND PROVISIONS OF EASEMENT AGREEMENT RECORDED MARCH 05, 2003 AT
RECEPTION NO. 479574.
33.TERMS, CONDITIONS AND PROVISIONS OF HOLY CROSS ENERGY RIGHT OF WAY EASEMENT
RECORDED MARCH 16, 2006 AT RECEPTION NO. 521824.
34.TERMS, CONDITIONS AND PROVISIONS OF GRANT OF EASEMENT RECORDED NOVEMBER 03, 2008 AT
RECEPTION NO. 553987.
35.TERMS, CONDITIONS, PROVISIONS, BURDENS AND OBLIGATIONS AS SET FORTH IN RESOLUTION NO.
64 (SERIES 2018) APPROVING TENT STRUCTURES RECORDED APRIL 16, 2018 UNDER RECEPTION NO.
646596.
36.TERMS, CONDITIONS AND PROVISIONS OF NOTICE OF APPROVAL RECORDED DECEMBER 20, 2019
AT RECEPTION NO. 661357.
37.TERMS, CONDITIONS, PROVISIONS, BURDENS AND OBLIGATIONS AS SET FORTH IN RESOLUTION NO.
PZ-23-2019 RECORDED DECEMBER 30, 2019 UNDER RECEPTION NO. 661546 AND RE-RECORDED
JANUARY 8, 2020 UNDER RECEPTION NO. 661797.
38.TERMS, CONDITIONS, PROVISIONS, BURDENS AND OBLIGATIONS AS SET FORTH IN NOTICE OF
APPROVAL RECORDED JANUARY 14, 2021 UNDER RECEPTION NO. 672609.
ALTA COMMITMENT
Old Republic National Title Insurance Company
Schedule B, Part II
(Exceptions)
Order Number: ABS62010825-4
LAND TITLE GUARANTEE COMPANY
DISCLOSURE STATEMENTS
Note: Pursuant to CRS 10-11-122, notice is hereby given that:
Note: Effective September 1, 1997, CRS 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 of an inch. The clerk and recorder may refuse to record or file any document that does not conform, except that,
the requirement for the top margin shall not apply to documents using forms on which space is provided for recording or
filing information at the top margin of the document.
Note: Colorado Division of Insurance Regulations 8-1-2 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". Provided that Land Title
Guarantee Company conducts the closing of the insured transaction and is responsible for recording the legal
documents from the transaction, exception number 5 will not appear on the Owner's Title Policy and the Lenders Policy
when issued.
Note: 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:
No coverage will be given under any circumstances for labor or material for which the insured has contracted for or
agreed to pay.
The Subject real property may be located in a special taxing district.(A)
A certificate of taxes due listing each taxing jurisdiction will be obtained from the county treasurer of the county in
which the real property is located or that county treasurer's authorized agent unless the proposed insured provides
written instructions to the contrary. (for an Owner's Policy of Title Insurance pertaining to a sale of residential real
property).
(B)
The 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)
The land described in Schedule A of this commitment must be a single family residence which includes a
condominium or townhouse unit.
(A)
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.
(B)
The Company must receive an appropriate affidavit indemnifying the Company against un-filed mechanic's and
material-men's liens.
(C)
The Company must receive payment of the appropriate premium.(D)
If there has been construction, improvements or major repairs undertaken on the property to be purchased within
six months prior to the Date of 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.
(E)
Note: Pursuant to CRS 10-11-123, notice is hereby given:
This notice applies to owner's policy commitments disclosing that a mineral estate has been severed from the surface
estate, in Schedule B-2.
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 a closing
protection letter for the lender, purchaser, lessee or seller in connection with this transaction.
That there is recorded evidence that a mineral estate has been severed, leased, or otherwise conveyed from the
surface estate and that there is substantial likelihood that a third party holds some or all interest in oil, gas, other
minerals, or geothermal energy in the property; and
(A)
That such mineral estate may include the right to enter and use the property without the surface owner's
permission.
(B)
JOINT NOTICE OF PRIVACY POLICY OF
LAND TITLE GUARANTEE COMPANY,
LAND TITLE GUARANTEE COMPANY OF SUMMIT COUNTY
LAND TITLE INSURANCE CORPORATION AND
OLD REPUBLIC NATIONAL TITLE INSURANCE COMPANY
This Statement is provided to you as a customer of Land Title Guarantee Company as agent for Land Title Insurance
Corporation and Old Republic National Title Insurance Company.
We want you to know that we recognize and respect your privacy expectations and the requirements of federal and state
privacy laws. Information security is one of our highest priorities. We recognize that maintaining your trust and confidence
is the bedrock of our business. We maintain and regularly review internal and external safeguards against unauthorized
access to your non-public personal information ("Personal Information").
In the course of our business, we may collect Personal Information about you from:
applications or other forms we receive from you, including communications sent through TMX, our web-based
transaction management system;
your transactions with, or from the services being performed by us, our affiliates, or others;
a consumer reporting agency, if such information is provided to us in connection with your transaction;
and
The public records maintained by governmental entities that we obtain either directly from those entities, or from
our affiliates and non-affiliates.
Our policies regarding the protection of the confidentiality and security of your Personal Information are as follows:
We restrict access to all Personal Information about you to those employees who need to know that information in
order to provide products and services to you.
We may share your Personal Information with affiliated contractors or service providers who provide services in the
course of our business, but only to the extent necessary for these providers to perform their services and to
provide these services to you as may be required by your transaction.
We maintain physical, electronic and procedural safeguards that comply with federal standards to protect your
Personal Information from unauthorized access or intrusion.
Employees who violate our strict policies and procedures regarding privacy are subject to disciplinary action.
We regularly assess security standards and procedures to protect against unauthorized access to Personal
Information.
WE DO NOT DISCLOSE ANY PERSONAL INFORMATION ABOUT YOU WITH ANYONE FOR ANY PURPOSE THAT
IS NOT STATED ABOVE OR PERMITTED BY LAW.
Consistent with applicable privacy laws, there are some situations in which Personal Information may be disclosed. We
may disclose your Personal Information when you direct or give us permission; when we are required by law to do so, for
example, if we are served a subpoena; or when we suspect fraudulent or criminal activities. We also may disclose your
Personal Information when otherwise permitted by applicable privacy laws such as, for example, when disclosure is
needed to enforce our rights arising out of any agreement, transaction or relationship with you.
Our policy regarding dispute resolution is as follows: Any controversy or claim arising out of or relating to our privacy
policy, or the breach thereof, shall be settled by arbitration in accordance with the rules of the American Arbitration
Association, and judgment upon the award rendered by the arbitrator(s) may be entered in any court having jurisdiction
thereof.
Commitment For Title Insurance
Issued by Old Republic National Title Insurance Corporation
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, Old Republic National Title Insurance
Company, a Minnesota 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 6 months after the Commitment Date, this Commitment terminates and the Company’s liability and obligation end.
COMMITMENT CONDITIONS
1. DEFINITIONS
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, 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:
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
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.
“Knowledge” or “Known”: Actual or imputed knowledge, but not constructive notice imparted by the Public Records.(a)
“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.
(b)
“Mortgage”: A mortgage, deed of trust, or other security instrument, including one evidenced by electronic means authorized by law.(c)
“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.
(d)
“Proposed Insured”: Each person identified in Schedule A as the Proposed Insured of each Policy to be issued pursuant to this Commitment.(e)
“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.
(f)
“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.
(g)
“Title”: The estate or interest described in Schedule A.(h)
the Notice;(a)
the Commitment to Issue Policy;(b)
the Commitment Conditions;(c)
Schedule A;(d)
Schedule B, Part I—Requirements; and(e)
Schedule B, Part II—Exceptions; and(f)
a counter-signature by the Company or its issuing agent that may be in electronic form.(g)
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:
(a)
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.
(b)
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.
(c)
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.
(d)
The Company shall not be liable for the content of the Transaction Identification Data, if any.(e)
6. LIABILITY OF THE COMPANY MUST BE BASED ON THIS COMMITMENT
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.
IN WITNESS WHEREOF, Land Title Insurance Corporation has caused its corporate name and seal to be affixed by its duly authorized officers on the date shown
in Schedule A to be valid when countersigned by a validating officer or other authorized signatory.
Issued by:
Land Title Guarantee Company
3033 East First Avenue Suite 600
Denver, Colorado 80206
303-321-1880
Senior Vice President
This page is only a part of a 2016 ALTA® Commitment for Title Insurance issued by Land Title Insurance Corporation. 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.
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.
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.
(f)
In any event, the Company’s liability is limited by the terms and provisions of the Policy.(g)
Only a Proposed Insured identified in Schedule A, and no other person, may make a claim under this Commitment.(a)
Any claim must be based in contract and must be restricted solely to the terms and provisions of this Commitment.(b)
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.
(c)
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.
(d)
Any amendment or endorsement to this Commitment must be in writing and authenticated by a person authorized by the Company.(e)
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.(f)