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HomeMy WebLinkAbout308 E Hopkins_HPC LUA_Disclosure of Ownership_2023-05-31711 E. Valley Rd, Unit 201B Basalt, CO 81621 Phone: 970-366-4111 Fax: 970-672-1576 www.titlecorockies.com COMMITMENT TRANSMITTAL Commitment Ordered By: Kevin Giles Holland & Hart LLP 600 East Main Street Aspen, email: KPGiles@hollandhart.com Inquiries should be directed to: Authorized Officer or Agent Title Company of the Rockies 711 E. Valley Rd, Unit 201B Basalt, CO 81621 Phone: 970-366-4111 Fax: 970-672-1576 Commitment Number:7002235-C2 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):JP'S Nevada Trust Property:308 East Hopkins Avenue, Unit 101, Aspen, CO 81611 Unit 101, 308 East Hopkins Condo, Pitkin County, Colorado COPIES / MAILING LIST Purchaser with contractual rights under a purchaser agreement with the vested owner identified at item 4 below JP'S Nevada Trust Holland & Hart LLP 600 East Main Street Aspen, email: KPGiles@hollandhart.com 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. Service Beyond Expectation in Colorado for: Eagle, Garfield, Grand, Pitkin and Summit Counties. (Limited Coverage: Jackson, Lake, Park and Routt Counties) Locations In: Avon/Beaver Creek, Basalt, Breckenridge, Grand Lake and Winter Park. (Closing Services available in Aspen and Glenwood Springs). Page 1 of 1 May 31, 2023 9:42 AM 711 E. Valley Rd, Unit 201B Basalt, CO 81621 Phone: 970-366-4111 Fax: 970-672-1576 www.titlecorockies.com Commitment Ordered By: Kevin Giles Holland & Hart LLP 600 East Main Street Aspen, email: KPGiles@hollandhart.com Inquiries should be directed to: Authorized Officer or Agent Title Company of the Rockies 711 E. Valley Rd, Unit 201B Basalt, CO 81621 Phone: 970-366-4111 Fax: 970-672-1576 Commitment Number:7002235-C2 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):JP'S Nevada Trust Property:308 East Hopkins Avenue, Unit 101, Aspen, CO 81611 Unit 101, 308 East Hopkins Condo, 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): TOTAL CHARGES: $500.00 $500.00 Service Beyond Expectation in Colorado for: Eagle, Garfield, Grand, Pitkin and Summit Counties. (Limited Coverage: Jackson, Lake, Park and Routt Counties) Locations In: Avon/Beaver Creek, Basalt, Breckenridge, Grand Lake and Winter Park. (Closing Services available in Aspen and Glenwood Springs). American Land Title Association Commitment for Title Insurance 2021 v.01.00 (07-01-2021) COMMITMENT FOR TITLE INSURANCE Issued by as agent for Stewart Title Guaranty Company SCHEDULE A Reference:Commitment Number: 7002235-C2 1.Effective Date: May 19, 2023, 7:00 am Issue Date: May 31, 2023 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: JP'S Nevada Trust 5.The Land is described as follows: FOR LEGAL DESCRIPTION SEE SCHEDULE A CONTINUED ON NEXT PAGE For Informational Purposes Only - APN: 273707329011 / R021687 Countersigned Title Company of the Rockies, LLC By: Staci Stamps American Land Title Association Commitment for Title Insurance 2021 v.01.00 (07-01-2021) Commitment No: 7002235-C2 SCHEDULE A (continued) LEGAL DESCRIPTION The Land referred to herein is located in the County of Pitkin, State of Colorado, and described as follows: Unit 101, 308 EAST HOPKINS Condominiums, according to the Condominium Map thereof February 28, 2011, in Plat Book 96 at Page 40, at Reception No. 577963, and according to the Condominium Declaration for 308 East Hopkins Condominiums recorded February 28, 2011, at Reception No. 577962, and First Amendment recorded August 8, 2011 at Reception No. 581778, and Second Amendment thereto recorded December 27, 2017 at Reception No. 644078. 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 Short Form Commitment for Title Insurance issued by Stewart Title Guaranty 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. 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: 7002235-C2 COMMITMENT FOR TITLE INSURANCE Issued by Stewart Title Guaranty Company SCHEDULE B, PART I Requirements The following are the requirements to be compiled 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. Evidence satisfactory to the Company or its duly authorized agent that all dues and/or5. assessments levied by the Homeowners Association have been paid through the date of closing. Evidence satisfactory to the Company or its duly authorized agent either (a) that the "real estate6. transfer taxes" imposed by Ordinance No. 20 (Series of 1979), and by Ordinance No. 13, (Series of 1990), of the City of Aspen, Colorado have been paid, and that the liens imposed thereby have been fully satisfied, or (b) that Certificates of Exemption have been issued pursuant to the provisions thereof. Properly executed Affidavit and Indemnity as to any and all leases and or tenancies.7. This page is only a part of a 2021 ALTA Short Form Commitment for Title Insurance issued by Stewart Title Guaranty 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. 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: 7002235-C2 NOTE: Please be advised that our search did not disclose any open Deeds of Trust of record. If you should have knowledge of any outstanding obligation, please contact the Title Department immediately for further review prior to closing. Statement of Authority for JPS Nevada Trust, a __ trust, evidencing the existence of said trust8. and the authority of one or more trustees to act on behalf of said trust and otherwise complying with C.R.S. 38-30-108.5, et. seq. NOTE: Review Trust Agreement for authority of party(ies) to act on behalf of said trust and complete the transaction contemplated herein. The Owner's Policy, when issued, will not contain Exceptions No. 1, 2, 3 and 4, provided that: (A) The enclosed form of indemnity agreement or final affidavit and agreement is properly executed and acknowledged by the party(ies) indicated and returned to the Company or its duly authorized agent, (B) The Company or its duly authorized agent receives and approves a Land Survey Plat, Improvement Survey Plat or ALTA survey properly certified by a registered surveyor or engineer, and (C) Applicable scheduled charges in the amount of $TBD are paid to the Company or its duly authorized agent. 24-month Chain of Title: The only conveyance(s) affecting said land recorded within the 24 months preceding the date of this commitment is (are) as follows: CONFIRMATION DEED recorded February 4, 2016 at Reception no. 626823 NOTE: If no conveyances were found in that 24 month period, the last recorded conveyance is reported. If the subject land is a lot in a subdivision plat less than 24 months old, only the conveyances subsequent to the plat are reported. NOTE: EXCEPTION NO. 5 UNDER SCHEDULE B, SECTION 2 OF THIS COMMITMENT WILL NOT APPEAR IN THE POLICY OR POLICIES TO BE ISSUED PURSUANT HERETO, PROVIDED THAT (A) THE DOCUMENTS CONTEMPLATED BY THE REQUIREMENTS SET FORTH IN SCHEDULE B, SECTION 1 OF THIS COMMITMENT ARE SUBMITTED TO AND APPROVED AND RECORDED BY THE COMPANY OR ITS DULY AUTHORIZED AGENT, AND (B) AN EXAMINATION OF THE RECORDS IN THE OFFICE OF THE CLERK AND RECORDER FOR PITKIN COUNTY, COLORADO BY THE COMPANY OR ITS DULY AUTHORIZED AGENT DISCLOSES THAT NO DEFECTS, LIENS, ENCUMBRANCES, This page is only a part of a 2021 ALTA Short Form Commitment for Title Insurance issued by Stewart Title Guaranty 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. 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: 7002235-C2 ADVERSE CLAIMS OR OTHER MATTERS HAVE BEEN RECORDED IN SUCH RECORDS SUBSEQUENT TO THE EFFECTIVE DATE HEREOF. 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. 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 Short Form Commitment for Title Insurance issued by Stewart Title Guaranty 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. 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: 7002235-C2 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: Any facts, right, interests, or claims which are not shown by the Public Records but which could1. be ascertained by an inspection of said Land or by making inquiry of persons in possession thereof. Easements or claims of easements, not shown by the Public Records.2. Any encroachment, encumbrance, violation, variation, or adverse circumstance affecting the3. 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. Any mine of gold, silver, cinnabar, or copper or any valid mining claim or possession held under7. existing laws, as reserved by M. G. Miller, County and Probate Judge of Pitkin County, Colorado, in Deed to John Harkins, recorded February 10, 1888, in Book 59 at Page 349. Any mine of gold, silver, cinnabar, or copper or any valid mining claim or possession held under8. This page is only a part of a 2021 ALTA Short Form Commitment for Title Insurance issued by Stewart Title Guaranty 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. 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: 7002235-C2 existing laws, as reserved by M. G. Miller, County and Probate Judge of Pitkin County, Colorado, in Deed to Catherine Brown and H. P. Cowenhoven, recorded November 28, 1888, in Book 59 at Page 518. Terms, agreements, provisions, conditions and obligations as contained in Notice of Historic9. Designation recorded January 13, 1975, in Book 295 at Page 515, at Reception No. 172512. Terms, agreements, provisions, conditions and obligations as contained in Multipurpose10. Easement Agreement Electric and Communication Utilities recorded September 16, 1976, in Book 316 at Page 705, at Reception No. 187067. Terms, agreements, provisions, conditions and obligations as contained in License Agreement11. recorded November 26, 1991, in Book 662 at Page 968, at Reception No. 338923. Terms, agreements, provisions, conditions and obligations as contained in Resolution No. 18,12. Series of 2006, by the Aspen Historic Preservation Commission recorded July 28, 2006, at Reception No. 526959. Terms, agreements, provisions, conditions and obligations as contained in Resolution No. 19,13. Series of 2007, by the Aspen Historic Preservation Commission recorded July 30, 2007, at Reception No. 540463. Terms, agreements, provisions, conditions and obligations as contained in Ordinance No. 27,14. Series of 2007, by the City of Aspen City Council recorded August 8, 2007, at Reception No. 540761. Easements, rights of way and all other matters as shown on the Plat of 308 East Hopkins Avenue,15. filed November 8, 2007, in Plat Book 85 at Page 54, at Reception No. 543921. Terms, agreements, provisions, conditions and obligations as contained in Subdivision16. Agreement for 308 East Hopkins Avenue Subdivision recorded November 8, 2007, at Reception No. 543922. Terms, agreements, provisions, conditions and obligations as contained in Resolution No. 28,17. Series of 2008, by the Aspen Historic Preservation Commission recorded December 11, 2008, at Reception No. 540463. Terms, agreements, provisions, conditions and obligations as contained in Revocable18. Encroachment License Application recorded December 30, 2009, at Reception No. 565752. Terms, agreements, provisions, conditions and obligations as contained in License between the19. This page is only a part of a 2021 ALTA Short Form Commitment for Title Insurance issued by Stewart Title Guaranty 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. 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: 7002235-C2 City of Aspen and JW Ventures, LLC recorded January 5, 2010, at Reception No. 565896. Terms, agreements, provisions, conditions and obligations as contained in Temporary Master20. Deed Restriction Agreement recorded April 7, 2010, at Reception No. 568364. Terms, agreements, provisions, conditions and obligations as contained in Resolution No. 7,21. Series of 2010, by the Aspen Historic Preservation Commission recorded July 22, 2010, at Reception No. 572118. Those covenants, conditions, obligations, easements and restrictions which are a burden to the22. Condominium Unit described in Schedule A, and set forth in the Condominium Declaration recorded February 28, 2011 at Reception No. 577962, and First Amendment recorded August 8, 2011 at Reception No. 581778, and Second Amendment thereto recorded December 27, 2017 at Reception No. 644078. Easements, rights of way and all other matters as shown on the Plat of 308 East Hopkins23. Condominiums, filed February 28, 2011, in PLat Book 96 at Page 40, at Reception No. 577963. Terms, agreements, provisions, conditions and obligations as contained in Memorandum of Lease24. recorded June 11, 2021 at Reception No. 677571. Terms, agreements, provisions, conditions and obligations as contained in Memorandum of Lease25. recorded June 11, 2021 at Reception No. 677572. Any and all leases and or tenancies and any and all parties claiming by, through, or under such26. leases and or tenancies NOTE: Upon compliance with Requirement No. 7, this Exception will not appear on the Final Policy. Note: This Company is required by Federal Law to collect certain additional information from you and the parties representing you regarding the purchase of real property. US Code Title 31-Sec 5326 authorizes the U.S Department of Treasury to collect information about the certain transaction as specified in various geographic targeting orders for the purpose of preventing evasion of the Bank Secrecy Act. As a result of a Geographic Targeting Order ("GTO") issued by the United States Department of Treasury, Financial Crimes Enforcement Network ("FinCEN"), on November 15, 2018, and effective November 17, 2018, this transaction may be responsive to the requirements of the GTO. You may be required, as a condition of the issuance of the policy to provide additional information that will be reported to FinCEN. Please contact this company and provide the details of this transaction in order to comply with the GTO. If the transaction meets the reporting requirement, you will be asked to provide information on the identity This page is only a part of a 2021 ALTA Short Form Commitment for Title Insurance issued by Stewart Title Guaranty 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. 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: 7002235-C2 of the parties to the transaction, which will be reported to FinCEN. This company is prohibited from issuing its policy if the transaction is reportable and the information is not provided for reporting. Additional exceptions and/or requirements may be raised This page is only a part of a 2021 ALTA Short Form Commitment for Title Insurance issued by Stewart Title Guaranty 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. 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. Commitment No: 7002235-C2 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: The Land described in Schedule A of this commitment must be a single-family residence, which1. includes a condominium or townhouse unit. No labor or materials may have been furnished by mechanics or materialmen for purpose of2. construction on the Land described in Schedule A of this Commitment within the past 13 months. The Company must receive an appropriate affidavit indemnifying the Company against unfiled3. mechanic's and materialmen's liens. Any deviation from conditions A though C above is subject to such additional requirements or4. Information as the Company may deem necessary, or, at its option, the Company may refuse to delete the exception. Payment of the premium for said coverage.5. Note 3: The following disclosures are hereby made pursuant to §10-11-122, C.R.S.: The subject real property may be located in a special taxing district;(i) A certificate of taxes due listing each taxing jurisdiction shall be obtained from the County(ii) Treasurer or the County Treasurer's authorized agent; and Information regarding special districts and the boundaries of such districts may be obtained from(iii) 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 10 Commitment No: 7002235-C2 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: The title entity shall deposit funds into an escrow, trust, or other fiduciary account and hold them1. in a fiduciary capacity. The title entity shall use any funds designated as “earnest money ” for the consummation of the2. 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: Release the earnest money funds as directed by written instructions signed by both the buyer(a) and seller; or If acceptable written instructions are not received, uncontested funds shall be held by the title(b) entity for 180 days from the scheduled date of closing, after which the title entity shall return said funds to the payor. In the event of any controversy regarding the funds held by the title entity (notwithstanding any3. 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: Await any proceeding; or(a) Interplead all parties and deposit such funds into a court of competent jurisdiction, and(b) recover court costs and reasonable attorney and legal fees; or Deliver written notice to the buyer and seller that unless the title entity receives a copy of a(c) 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.” Note 11: Pursuant to Colorado Division of Insurance Regulation 8-1-3,Section 5, Paragraph C (11)(f), a closing protection letter is available to the consumer. Page 11 Commitment No: 7002235-C2 Page 12 ALTA COMMITMENT FOR TITLE INSURANCE (07-01-2021) ISSUED BY STEWART TITLE GUARANTY 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, STEWART TITLE GUARANTY COMPANY, a Texas 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 six months after the Commitment Date, this Commitment terminates and the Company’s liability and obligation end. Countersigned by: This page is only a part of a 2021 ALTA Commitment for Title Insurance issued by Stewart Title Guaranty 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. 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. City, State Authorized Countersignature Title Company of the Rockies, LLC Company Name CO 81621 COMMITMENT CONDITIONS DEFINITIONS1. 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. If all of the Schedule B, Part I - Requirements have not been met within the time period specified in the Commitment2. to Issue Policy, this Commitment terminates and the Company ’s liability and obligation end. The Company’s liability and obligation is limited by and this Commitment is not valid without:3. the Notice;a. the Commitment to Issue Policy;b. the Commitment Conditions;c. Schedule A;d. Schedule B, Part I - Requirements;e. Schedule B, Part II - Exceptions; andf. a countersignature by the Company or its issuing agent that may be in electronic form.g. COMPANY’S RIGHT TO AMEND4. 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 This page is only a part of a 2021 ALTA Short Form Commitment for Title Insurance issued by Stewart Title Guaranty 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. 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. liability of the Company is limited by Commitment Condition 5. The Company is not liable for any other amendment to this Commitment. LIMITATIONS OF LIABILITY5. The Company ’s liability under Commitment Condition 4 is limited to the Proposed Insured ’s actual expensea. 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: comply with the Schedule B, Part I - Requirements;i. eliminate, with the Company’s written consent, any Schedule B, Part II - Exceptions; orii. acquire the Title or create the Mortgage covered by this Commitment.iii. The Company is not liable under Commitment Condition 5.a. if the Proposed Insured requested the amendmentb. or had Knowledge of the matter and did not notify the Company about it in writing. The Company is only liable under Commitment Condition 4 if the Proposed Insured would not have incurred thec. expense had the Commitment included the added matter when the Commitment was first delivered to the Proposed Insured. The Company ’s liability does not exceed the lesser of the Proposed Insured ’s actual expense incurred in goodd. faith and described in Commitment Condition 5.a. or the Proposed Amount of Insurance. The Company is not liable for the content of the Transaction Identification Data, if any.e. 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. LIABILITY OF THE COMPANY MUST BE BASED ON THIS COMMITMENT; CHOICE OF LAW AND6. 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. 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. IF THIS COMMITMENT IS ISSUED BY AN ISSUING AGENT7. 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. PRO-FORMA POLICY8. This page is only a part of a 2021 ALTA Short Form Commitment for Title Insurance issued by Stewart Title Guaranty 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. 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. 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. ARBITRATION11. 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 . STEWART TITLE GUARANTY COMPANY All notices required to be given the Company and any statement in writing required to be furnished the Company shall be addressed to it at: Stewart Title Guaranty Company, P.O. Box 2029, Houston, Texas 77252-2029. This page is only a part of a 2021 ALTA Short Form Commitment for Title Insurance issued by Stewart Title Guaranty 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. 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.