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HomeMy WebLinkAboutTitle Commitment - 9-23-21This page is only a part of a 2016 ALTA® Commitment for Title Insurance issued by First American 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; 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. Form 5030000 (1-31-17)Page 1 of 16 ALTA Commitment for Title Insurance (8-1-16) ALTA Commitment for Title Insurance ISSUED BY First American Title Insurance Company Commitment COMMITMENT FOR TITLE INSURANCE Issued By FIRST AMERICAN TITLE INSURANCE COMPANY NOTICE IMPORTANT—READ CAREFULLY: THIS COMMITMENT IS AN OFFER TO ISSUE ONE OR MORE TITLE INSURANCE POLICIES. ALL CLAIMS OR REMEDIES SOUGHT AGAINST THE COMPANY INVOLVING THE CONTENT OF THIS COMMITMENT OR THE POLICY MUST BE BASED SOLELY IN CONTRACT. THIS COMMITMENT IS NOT AN ABSTRACT OF TITLE, REPORT OF THE CONDITION OF TITLE, LEGAL OPINION, OPINION OF TITLE, OR OTHER REPRESENTATION OF THE STATUS OF TITLE. THE PROCEDURES USED BY THE COMPANY TO DETERMINE INSURABILITY OF THE TITLE, INCLUDING ANY SEARCH AND EXAMINATION, ARE PROPRIETARY TO THE COMPANY, WERE PERFORMED SOLELY FOR THE BENEFIT OF THE COMPANY, AND CREATE NO EXTRACONTRACTUAL LIABILITY TO ANY PERSON, INCLUDING A PROPOSED INSURED. THE COMPANY’S OBLIGATION UNDER THIS COMMITMENT IS TO ISSUE A POLICY TO A PROPOSED INSURED IDENTIFIED IN SCHEDULE A IN ACCORDANCE WITH THE TERMS AND PROVISIONS OF THIS COMMITMENT. THE COMPANY HAS NO LIABILITY OR OBLIGATION INVOLVING THE CONTENT OF THIS COMMITMENT TO ANY OTHER PERSON. COMMITMENT TO ISSUE POLICY Subject to the Notice; Schedule B, Part I—Requirements; Schedule B, Part II—Exceptions; and the Commitment Conditions,First American Title Insurance Company, a Colorado Corporation (the "Company"), commits to issue the Policy according to the terms and provisions of this Commitment. This Commitment is effective as of the Commitment Date shown in Schedule A for each Policy described in Schedule A, only when the Company has entered in Schedule A both the specified dollar amount as the Proposed Policy Amount and the name of the Proposed Insured. If all of the Schedule B, Part I—Requirements have not been met within six months after the Commitment Date, this Commitment terminates and the Company’s liability and obligation end. First American Title Insurance Company If this jacket was created electronically, it constitutes an original document. This page is only a part of a 2016 ALTA® Commitment for Title Insurance issued by First American Title Insurance Company. This Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I—Requirements; Schedule B, Part II—Exceptions; 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. Form 5030000 (1-31-17)Page 2 of 16 ALTA Commitment for Title Insurance (8-1-16) COMMITMENT CONDITIONS 1.DEFINITIONS (a) "Knowledge" or "Known": Actual or imputed knowledge, but not constructive notice imparted by the Public Records. (b) "Land": The land described in Schedule A and affixed improvements that by law constitute real property. The term "Land" does not include any property beyond the lines of the area described in Schedule A, nor any right, title, interest, estate, or easement in abutting streets, roads, avenues, alleys, lanes, ways, or waterways, but this does not modify or limit the extent that a right of access to and from the Land is to be insured by the Policy. (c) "Mortgage": A mortgage, deed of trust, or other security instrument, including one evidenced by electronic means authorized by law. (d) "Policy": Each contract of title insurance, in a form adopted by the American Land Title Association, issued or to be issued by the Company pursuant to this Commitment. (e) "Proposed Insured": Each person identified in Schedule A as the Proposed Insured of each Policy to be issued pursuant to this Commitment. (f) "Proposed Policy Amount": Each dollar amount specified in Schedule A as the Proposed Policy Amount of each Policy to be issued pursuant to this Commitment. (g) "Public Records": Records established under state statutes at the Commitment Date for the purpose of imparting constructive notice of matters relating to real property to purchasers for value and without Knowledge. (h) "Title": The estate or interest described in Schedule A. 2. If all of the Schedule B, Part I—Requirements have not been met within the time period specified in the Commitment to Issue Policy, this Commitment terminates and the Company’s liability and obligation end. 3. The Company’s liability and obligation is limited by and this Commitment is not valid without: (a) the Notice; (b) the Commitment to Issue Policy; (c) the Commitment Conditions; (d) Schedule A; (e) Schedule B, Part I—Requirements; (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 shall not be liable for any other amendment to this Commitment. 5.LIMITATIONS OF LIABILITY (a) The Company’s liability under Commitment Condition 4 is limited to the Proposed Insured’s actual expense incurred in the interval between the Company’s delivery to the Proposed Insured of the Commitment and the delivery of the amended Commitment, resulting from the Proposed Insured’s good faith reliance to: (i) comply with the Schedule B, Part I—Requirements; (ii) eliminate, with the Company’s written consent, any Schedule B, Part II—Exceptions; or (iii) acquire the Title or create the Mortgage covered by this Commitment. (b) The Company shall not be liable under Commitment Condition 5(a) if the Proposed Insured requested the amendment or had Knowledge of the matter and did not notify the Company about it in writing. (c) The Company will only have liability under Commitment Condition 4 if the Proposed Insured would not have incurred the expense had the Commitment included the added matter when the Commitment was first delivered to the Proposed Insured. This page is only a part of a 2016 ALTA® Commitment for Title Insurance issued by First American 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; 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. Form 5030000 (1-31-17)Page 3 of 16 ALTA Commitment for Title Insurance (8-1-16) (d) The Company’s liability shall not exceed the lesser of the Proposed Insured’s actual expense incurred in good faith and described in Commitment Conditions 5(a)(i) through 5(a)(iii) or the Proposed Policy Amount. (e) The Company shall not be liable for the content of the Transaction Identification Data, if any. (f) In no event shall the Company be obligated to issue the Policy referred to in this Commitment unless all of the Schedule B, Part I—Requirements have been met to the satisfaction of the Company. (g) In any event, the Company’s liability is limited by the terms and provisions of the Policy. 6.LIABILITY OF THE COMPANY MUST BE BASED ON THIS COMMITMENT (a) Only a Proposed Insured identified in Schedule A, and no other person, may make a claim under this Commitment. (b) Any claim must be based in contract and must be restricted solely to the terms and provisions of this Commitment. (c) Until the Policy is issued, this Commitment, as last revised, is the exclusive and entire agreement between the parties with respect to the subject matter of this Commitment and supersedes all prior commitment negotiations, representations, and proposals of any kind, whether written or oral, express or implied, relating to the subject matter of this Commitment. (d) The deletion or modification of any Schedule B, Part II—Exception does not constitute an agreement or obligation to provide coverage beyond the terms and provisions of this Commitment or the Policy. (e) Any amendment or endorsement to this Commitment must be in writing and authenticated by a person authorized by the Company. (f) When the Policy is issued, all liability and obligation under this Commitment will end and the Company’s only liability will be under the Policy. 7.IF THIS COMMITMENT HAS BEEN ISSUED BY AN ISSUING AGENT The issuing agent is the Company’s agent only for the limited purpose of issuing title insurance commitments and policies. The issuing agent is not the Company’s agent for the purpose of providing closing or settlement services. 8.PRO-FORMA POLICY The Company may provide, at the request of a Proposed Insured, a pro-forma policy illustrating the coverage that the Company may provide. A pro-forma policy neither reflects the status of Title at the time that the pro-forma policy is delivered to a Proposed Insured, nor is it a commitment to insure. 9.ARBITRATION The Policy contains an arbitration clause. All arbitrable matters when the Proposed Policy Amount is $2,000,000 or less shall be arbitrated at the option of either the Company or the Proposed Insured as the exclusive remedy of the parties. A Proposed Insured may review a copy of the arbitration rules at http://www.alta.org/arbitration. This page is only a part of a 2016 ALTA® Commitment for Title Insurance issued by First American Title Insurance Company. This Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I—Requirements; Schedule B, Part II—Exceptions; 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. Form 5033708-A (4-9-18)Page 4 of 16 ALTA Commitment for Title Insurance (8-1-16) Colorado - Schedule A ALTA Commitment for Title Insurance ISSUED BY First American Title Insurance Company Schedule A Transaction Identification Data for reference only: Issuing Agent:Winter Van Alstine Issuing Office:Attorneys Title Insurance Agency of Aspen, LLC Issuing Office's ALTA® Registry ID: 1019587 Loan ID No.: Commitment No.:21004824 Issuing Office File No.:21004824 Property Address:314 Riverside Avenue, Unit 2, Aspen, CO 81611 SCHEDULE A 1. Commitment Date: September 21, 2021 at 07:45 AM 2. Policy or Policies to be issued: Amount Premium A.ALTA Owners Policy (06/17/06) 50% RE-ISSUE RATE $6,700,000.00 $5,643.00 Proposed Insured:Barry M. Cohen Revocable Living Trust and the Lisa Taitelman Cohen Revocable Living Trust Certificate of Taxes Due $25.00 Endorsements: CO-110.1 (Delete 1, 2, 3, 4) Subject to Underwriting Approval $75.00 Additional Charges:$0 Total $5,743.00 3. The estate or interest in the land described or referred to in this Commitment is Fee simple. 4. The Title is, at the Commitment Date, vested in: 314 Aspen Riverside LLC, a Colorado limited liability company 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: 314 Riverside Avenue, Unit 2, Aspen, CO 81611. SCHEDULE A (Continued) This page is only a part of a 2016 ALTA® Commitment for Title Insurance issued by First American 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; 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. Form 5033708-A (4-9-18)Page 5 of 16 ALTA Commitment for Title Insurance (8-1-16) Colorado - Schedule A Attorneys Title Insurance Agency of Aspen, LLC By: Winter Van Alstine Authorized Officer or Agent FOR INFORMATION PURPOSED 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. This page is only a part of a 2016 ALTA® Commitment for Title Insurance issued by First American 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; 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. Form 5030008-BI&BII (5-18-17)Page 6 of 16 ALTA Commitment for Title Insurance (8-1-16) Colorado - Schedule BI & BII ALTA Commitment for Title Insurance ISSUED BY First American Title Insurance Company Schedule BI & BII Commitment No: 21004824 SCHEDULE B, PART I Requirements All of the following Requirements must be met: 1.The Proposed Insured must notify the Company in writing of the name of any party not referred to in this Commitment who will obtain an interest in the Land or who will make a loan on the Land. The Company may then make additional Requirements or Exceptions. 2.Pay the agreed amount for the estate or interest to be insured. 3.Pay the premiums, fees, and charges for the Policy to the Company. 4.Documents satisfactory to the Company that convey the Title or create the Mortgage to be insured, or both, must be properly authorized, executed, delivered, and recorded in the Public Records. 5.Payment of all taxes and assessments now due and payable as shown on a certificate of taxes due from the County Treasurer or the County Treasurer's Authorized Agent. 6.Evidence that all assessments for common expenses, if any, have been paid. 7.Final Affidavit and Agreement executed by Owners and/or Purchasers must be provided to the Company 8.Special Warranty Deed must be sufficient to convey the fee simple estate or interest in the land described or referred to herein, from 314 Aspen Riverside LLC, a Colorado limited liability company, to Barry M. Cohen Revocable Living Trust and the Lisa Taitelman Cohen Revocable Living Trust, 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.Release of the Deed of Trust from 314 Aspen Riverside LLC, a Colorado limited liability company, to the Public Trustee of Pitkin County for the benefit of Firstbank, to secure an indebtedness in the principal sum of $2,650,000.00, and any other amounts and/obligations secured thereby, dated October 5, 2020, and recorded November 20, 2020, as Reception No. 670750. 10.Certificate of Good Standing from the Colorado Secretary of State for 314 Aspen Riverside LLC, a Colorado limited liability company. 11.Record a Statement of Authority to provide prima facie evidence of existence of 314 Aspen Riverside LLC, a Colorado limited liability company, 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. ALTA Commitment for Title Insurance ISSUED BY First American Title Insurance Company Schedule BI & BII (Cont.) Form 50-CO-Disclosure (4-1-16)Page 7 of 16 Disclosure Statement (5-1-15) Colorado 12.A copy of the properly signed and executed Operating Agreement if written, for 314 Aspen Riverside LLC, a Colorado limited liability company, to be submitted to the Company for review. 13.Record a Statement of Authority to provide prima facie evidence of existence of the Barry M. Cohen Revocable Living Trust, 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. 14.Record a Statement of Authority to provide prima facie evidence of existence of the Lisa Taitelman Cohen Revocable Living Trust, 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. 15.A true and correct copy of the Trust Agreement which creates the Barry M. Cohen Revocable Living Trust, providing, among other things, the designation of the trustee(s) and specification of the trustee(s) powers under that trust. 16.A true and correct copy of the Trust Agreement which creates the Lisa Taitelman Cohen Revocable Living Trust, providing, among other things, the designation of the trustee(s) and specification of the trustee(s) powers under that trust. 17.As to the deletion of standard exceptions 1 through 4 of the policy(ies) to be issued hereunder, the following items must be received by the Company: (a) Indemnity Agreement I satisfactory to the Company executed by the seller. (b) Certificate of Occupancy issued by the appropriate authority. (c) Contractor to provide Indemnity VII Agreement ot the Company. (d) Signed Lien Waivers evidencing full and complete payment of all existing or outstanding bills or obligations to any contractors, subcontractors and suppliers for materials supplied or labor performed, commenced or contracted for, including but not limited to excavation, demolition, engineering and architectural fees. (e) A cost breakdown of any remaining punch list items. NOTE: The above requirements (a) through (e) are made due to the possibility that the transaction contemplated herein may be occurring within the statutory lien period for the filing and recording of mechanic’s liens as prescribed by C.R.S. 38-22-109(5). 18.Evidence that the right of first refusal provisions set forth in the declaration referred to as item No.13, of Schedule B, Section 2 herein, have been complied with. 19.This Title Commitment is subject to underwriter approval. This page is only a part of a 2016 ALTA® Commitment for Title Insurance issued by First American 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; 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. Form 5030008-BI&BII (5-18-17)Page 8 of 16 ALTA Commitment for Title Insurance (8-1-16) Colorado - Schedule BI & BII ALTA Commitment for Title Insurance ISSUED BY First American Title Insurance Company Schedule BI & BII (Cont.) Commitment No.: 21004824 SCHEDULE B, PART II Exceptions THIS COMMITMENT DOES NOT REPUBLISH ANY COVENANT, CONDITION, RESTRICTION, OR LIMITATION CONTAINED IN ANY DOCUMENT REFERRED TO IN THIS COMMITMENT TO THE EXTENT THAT THE SPECIFIC COVENANT, CONDITION, RESTRICTION, OR LIMITATION VIOLATES STATE OR FEDERAL LAW BASED ON RACE, COLOR, RELIGION, SEX, SEXUAL ORIENTATION, GENDER IDENTITY, HANDICAP, FAMILIAL STATUS, OR NATIONAL ORIGIN. The Policy will not insure against loss or damage resulting from the terms and provisions of any lease or easement identified in Schedule A, and will include the following Exceptions unless cleared to the satisfaction of the Company: 1.Any facts, rights, interests or claims which are not shown by the Public Records, but which could be ascertained by an inspection of the Land or by making inquiry of persons in possession thereof. 2.Easements, or claims of easements, not shown by the Public Records. 3.Discrepancies, conflicts in boundary lines, shortage in area, encroachments, and any facts which a correct land survey and inspection of the Land would disclose, and which are not shown by the Public Records. 4.Any lien, or right to a lien, for services, labor or material theretofore or hereafter furnished, imposed by law and not shown in the Public Records. 5.Any defect, lien, encumbrance, adverse claim, or other matter that appears for the first time in the Public Records or is created, attaches, or is disclosed between the Commitment Date and the date on which all of the Schedule B, Part I—Requirements are met. Note: Exception number 5. will be removed from the policy provided the Company conducts the closing and settlement service for the transaction identified in the commitment 6.Any and all unpaid taxes, assessments and unredeemed tax sales. 7.Unpatented mining claims; reservations or exceptions in patents or in Acts authorizing the issuance thereof. 8.Any water rights, claims of title to water, in, on or under the Land. 9.Taxes and assessments for the year 2021, and subsequent years, a lien not yet due or payable. ALTA Commitment for Title Insurance ISSUED BY First American Title Insurance Company Schedule BI & BII (Cont.) Form 50-CO-Disclosure (4-1-16)Page 9 of 16 Disclosure Statement (5-1-15) Colorado 10.Reservations, mineral reservations and right of the proprietor of a vein or lode to extract and remove his ore therefrom, should the same be found to penetrate or intersect the premises hereby granted, as described in the United States Patent recorded June 17, 1949, in Book 175 at Page 246, as Reception No. 096480. 11.Any and all notes, easements and recitals as disclosed on the recorded Map of the Riverside Placer, recorded February 7, 1951, in Plat Book 2 at Page 39, as Reception No. 098101. 12.Terms, conditions, provisions, agreements and obligations specified under An Ordinance Providing for the Annexation of a Tract of Land Known as a Riverside Annex to the City of Aspen, Colorado, to be made a part of the City of Aspen; Describing said land by Metes and Bounds; Designating Said Land as a part of Ward No. 1; and Declaring an Emergency to Exist (Ordinance No. 11 - Series of 1962), recorded February 8, 1963, in Book 201 at Page 142, as Reception No. 114902. 13.Terms, conditions, provisions, agreements and obligations specified under the Condominium Declaration of Pine River Townhomes, a Condominum and Revocation of Declaration of Restrictions, recorded January 21, 1994, in Book 739 at Page 474, as Reception No. 366002. 14.Any and all notes, easements and recitals as disclosed on the recorded Condominium Plat of the Pine River Townhomes, recorded January 21, 1994, in Plat Book 33 at Page 66, as Reception No. 366003, and First Amended Plat of Condominium Units 1 & 2, Pine River Townhomes, City of Aspen, recorded April 16, 2004, in Plat Book 68 at Page 99, as Reception No. 496584. 15.Any existing leases or tenancies, and any and all parties claiming by, through or under said lessees. Form 5000000-EX (7-1-14)Page 10 of 16 Exhibit A ALTA Commitment for Title Insurance ISSUED BY First American Title Insurance Company Exhibit A File No.: 21004824 The Land referred to herein below is situated in the County of Pitkin, State of Colorado, and is described as follows: Unit 2, PINE RIVER TOWNHOMES, A CONDOMINIUM, according to the Map thereof recorded January 21, 1994 in Plat Book 33 at page 66 as Reception No. 366003 and the First Amended Plat of Condominiums Units 1 & 2, Pine River Townhomes recorded April 16, 2004 in Plat Book 68 at Page 99 as Reception No. 496584 and as defined and described by the Condominium Declaration of Pine River Townhomes, a Condominium recorded January 21, 1994 in Book 739 at Page 474 as Reception No. 366002, Pitkin County, Colorado. Form 50-CO-Disclosure (4-1-16)Page 11 of 16 Disclosure Statement (5-1-15) Colorado DISCLOSURE STATEMENT Pursuant to C.R.S. 30-10-406(3)(a) all documents received for recording or filing in the Clerk and Recorder’s office shall contain a top margin of at least one inch and a left, right and bottom margin of at least one-half of an inch. The Clerk and Recorder will refuse to record or file any document that does not conform to the requirements of this section. NOTE: If this transaction includes a sale of the property and the price exceeds $100,000.00, the seller must comply with the disclosure/withholding provisions of C.R.S. 39-22-604.5 (Nonresident withholding). NOTE: Colorado Division of Insurance Regulations 8-1-2 requires that “Every title insurance company shall be responsible to the proposed insured(s) subject to the terms and conditions of the title commitment, other than the effective date of the title commitment, for all matters which appear of record prior to the time of recording whenever the title insurance company, or its agent, conducts the closing and settlement service that is in conjunction with its issuance of an owner’s policy of title insurance and is responsible for the recording and filing of legal documents resulting from the transaction which was closed. Pursuant to C.R.S. 10-11-122, the company will not issue its owner’s policy or owner’s policies of title insurance contemplated by this commitment until it has been provided a Certificate of Taxes due or other equivalent documentation from the County Treasurer or the County Treasurer’s authorized agent; or until the Proposed Insured has notified or instructed the company in writing to the contrary. The subject property may be located in a special taxing district. A Certificate of Taxes due listing each taxing jurisdiction shall be obtained from the County Treasurer or the County Treasurer’s authorized agent. Information regarding special districts and the boundaries of such districts may be obtained from the Board of County Commissioners, the County Clerk and Recorder, or the County Assessor. 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: 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. Form 50-CO-Disclosure (4-1-16)Page 12 of 16 Disclosure Statement (5-1-15) Colorado 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. TELEPHONE 970 925-7328 FACSIMILE 970 925-7348 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. FirstAmerican Title'" Privacy Notice Effective: November 1, 2019 Notice Last Updated: November 1, 2019 This Privacy Notice describes how First American Financial Corporation and its subsidiaries and affiliates (together referred to as "First American," "we," "us," or "our") collect, use, store, and share your information. This Privacy Notice applies to information we receive from you offline only, as well as from third parties. For more information about our privacy practices, please visit htti)s://www.firstam.com/orivacy-policy/index.html. The practices described in this Privacy Notice are subject to applicable laws in the places in which we operate. What Type Of Information Do We Collect About You? We collect both personal and non -personal information about and from you. Personal information is non-public information that can be used to directly or indirectly identify or contact you. Non -personal information is any other type of information. How Do We Collect Your Information? We collect your personal and non -personal information: (1) directly from you; (2) automatically when you interact with us; and (3) from third parties, including business parties and affiliates. How Do We Use Your Information? We may use your personal information in a variety of ways, including but not limited to providing the services you have requested, fulfilling your transactions, comply with relevant laws and our policies, and handling a claim. We may use your non -personal information for any purpose. How Do We Share Your Personal Information? We do not sell your personal information to nonaffiliated third parties. We will only share your personal information, including to subsidiaries, affiliates, and to unaffiliated third parties: (1) with your consent; (2) in a business transfer; (3) to service providers; and (4) for legal process and protection. If you have any questions about how First American shares your personal information, you may contact us at dataprivacy@firstam.com or toll free at 1-866-718-0097. How Do We Secure Your Personal Information? The security of your personal information is important to us. That is why we take commercially reasonable steps to make sure your personal information is protected. We use our best efforts to maintain commercially reasonable technical, organizational, and physical safeguards, consistent with applicable law, to protect your personal information. How Lonq Do We Keep Your Personal Information? We keep your personal information for as long as necessary in accordance with the purpose for which it was collected, our business needs, and our legal and regulatory obligations. Your Choices We provide you the ability to exercise certain controls and choices regarding our collection, use, storage, and sharing of your personal information. In accordance with applicable law, your controls and choices. You can learn more about your choices, and exercise these controls and choices, by sending an email to dataprivacy@firstam.com or toll free at 1-866-718-0097. International Jurisdictions: Our Products are hosted and offered in the United States of America (US), and are subject to US federal, state, and local law. If you are accessing the Products from another country, please be advised that you may be transferring your personal information to us in the US, and you consent to that transfer and use of your personal information in accordance with this Privacy Notice. You also agree to abide by the applicable laws of applicable US federal, state, and local laws concerning your use of the Products, and your agreements with us. We may change this Privacy Notice from time to time. Any and all changes to this Privacy Notice will be reflected on this page, and where appropriate provided in person or by another electronic method. YOUR CONTINUED USE, ACCESS, OR INTERACTION WITH OUR PRODUCTS OR YOUR CONTINUED COMMUNICATIONS WITH US AFTER THIS NOTICE HAS BEEN PROVIDED TO YOU WILL REPRESENT THAT YOU HAVE READ AND UNDERSTOOD THIS PRIVACY NOTICE. Contact Us dataprivacya@firstam.com or toll free at 1-866-718-0097. a 2019 First American Financial Corporation and/or its affiliates. All rights reserved. NYSE:FAF Form 10-PRIVACY19 (11-26-19) Page 1 of 3 Privacy Notice (2019 First American Financial Corporation) FirstAmerican Title" For California Residents If you are a California resident, you may have certain rights under California law, including but not limited to the California Consumer Privacy Act of 2018 ("CCPA"). All phrases used in this section shall have the same meaning as those phrases are used under California law, including the CCPA. Right to Know. You have a right to request that we disclose the following information to you: (1) the categories of personal information we have collected about or from you; (2) the categories of sources from which the personal information was collected; (3) the business or commercial purpose for such collection and/or disclosure of your personal information; (4) the categories of third parties with whom we have shared your personal information; and (5) the specific pieces of your personal information we have collected. To submit a verified request for this information, go to our online privacy policy at www.firstam.com/privacy-policy to submit your request or call toll -free at 1-866-718-0097. You may also designate an authorized agent to submit a request on your behalf by going to our online privacy policy at www.firstam.com/privacy-policy to submit your request or by calling toll -free at 1-866-718-0097 and submitting written proof of such authorization to data r)rivacy@fi rstam .com . Right of Deletion. You also have a right to request that we delete the personal information we have collected from you. This right is subject to certain exceptions available under the CCPA and other applicable law. To submit a verified request for deletion, go to our online privacy policy at www.firstam.com/privacy-policy to submit your request or call toll -free at 1- 866-718-0097. You may also designate an authorized agent to submit a request on your behalf by going to our online privacy policy at www.firstam.com/privacy-policy to submit your request or by calling toll -free at 1-866-718-0097 and submitting written proof of such authorization to dataprivacy@firstam.com. Verification Process. For either a request to know or delete, we will verify your identity before responding to your request. To verify your identity, we will generally match the identifying information provided in your request with the information we have on file about you. Depending on the sensitivity of the personal information requested, we may also utilize more stringent verification methods to verify your identity, including but not limited to requesting additional information from you and/or requiring you to sign a declaration under penalty of perjury. Right to Opt -Out. We do not sell your personal information to third parties, and d❑ not plan to do so in the future. Right of Non -Discrimination. You have a right to exercise your rights under California law, including under the CCPA, without suffering discrimination. Accordingly, First American will not discriminate against you in any away if you choose to exercise your rights under the CCPA. Collection Notice. The following is a list of the categories of personal information we may have collected about California residents in the twelve months preceding the date this Privacy Notice was last updated, including the business or commercial purpose for said collection, the categories of sources from which we may have collected the personal information, and the categories of third parties with whom we may have shared the personal information: CMegories of The categories of personal information we have collected include, but may not be limited to: real Personal name; signature; alias; SSN; physical characteristics or description, including protected characteristics Information under federal or state law; address; telephone number; passport number; driver's license number; Collected state identification card number; IP address; policy number; file number; employment history; bank account number; credit card number; debit card number; financial account numbers; commercial information; internet or other electronic network activity; geolocation data; audio and visual information; professional or employment information; and inferences drawn from the above categories to create a profile about a consumer. Categories Categories of sources from which we've collected personal information include, but may not be Sources limited to: the consumer directly; public records; governmental entities; non-affiliated third parties; social media networks; affiliated third parties Business The business purposes for which we've collected personal information include, but may not be Purpose for limited to: completing a transaction for our Products; verifying eligibility for employment; facilitating Collection employment; performing services on behalf of affiliated and non-affiliated third parties; debugging to identify and repair errors that impair existing intended functionality on our Webs ites, Applications, or Products; protecting against malicious, deceptive, fraudulent, or illegal activity © 2019 First American Financial Corporation and/or its affiliates. All rights reserved. NYSE:FAF Form 10-PRIVACY19 (11-26-19) Page 2 of 3 1 Privacy Notice (2019 First American Financial Corporation) FirsfAmerican Title`" Categor The categories of third parties with whom we've shared personal information include, but may not Third Parties be limited to: advertising networks; internet service providers; data analytics providers; service Shared providers; government entities; operating systems and platforms; social media networks; non-affiliated :thirdparties; affiliated third parties Categories of Personal Information We Have Sold In The Past Year. We have not sold any personal information of California residents to any third party in the twelve months preceding the date this Privacy Notice was last updated. Categories of Personal Information Disclosed For R Business Purpose in The Past Year. The following is a list of the categories of personal information of California residents we may have disclosed for a business purpose in the 12 months preceding the date this Privacy Notice was last updated: The categories of personal information we have collected include, but may not be limited to: real name; signature; alias; SSN; physical characteristics or description, including protected characteristics under federal or state law; address; telephone number; passport number; driver's license number; state identification card number; IP address; policy number; file number; employment history; bank account number; credit card number; debit card number; financial account numbers; commercial information; internet or other electronic network activity; geolocation data; audio and visual information; professional or employment information; and inferences drawn from the above categories to create a profile about a consumer. © 2019 First American Financial Corporation and/or its affiliates. All rights reserved. NYSE:FAF Form 10-PRIVACY19 (11-26-19) Page 3 of 3 1 Privacy Notice (2019 First American Financial Corporation)