HomeMy WebLinkAboutAppendix A. Exhibit 2 Title CommitmentALTA Commitment For Title Insurance
AUTHORIZED AGENT:
PITKIN COUNTY TITLE, INC.
601 E. HOPKINS AVE. 3
RD
FLOOR
ASPEN, COLORADO 81611
970-925-1766-PHONE
970-925-6527-FAX
877-217-3158-TOLL FREE
E-MAIL ADDRESS:
TITLE MATTERS: CLOSING MATTERS:
Nola Warnecke (nola@sopris.net) TJ Davis - (tjd@sopris.net)
Brandi Wolfe (pctb@sopris.net) Joy Higens - (joy@sopris.net)
Issued By
Home Office:
875 Concourse Parkway South, Suite 200
Maitland, FL 32751
Telephone (407) 629-5842
Appendix A. Exhibit 2
ALTA Commitment Form (6-17-06)
COMMITMENT FOR TITLE INSURANCE
ISSUED BY
WESTCOR LAND TITLE INSURANCE COMPANY
Westcor Land Title Insurance Company, a California Corporation,("Company"), for a valuable consideration,
hereby commits to issue its policy or policies of title insurance, as identified in Schedule A, in favor of the
Proposed Insured named in Schedule A, as owner or mortgagee of the estate or interest covered hereby in the
land described or referred to in Schedule A, upon payment of the premiums and charges and compliance with
the Requirements; all subject to the provisions of Schedule A and B and to the Conditions of this Commitment.
This Commitment shall be effective only when the identity of the Proposed Insured and the amount of the policy
or policies committed for have been inserted in Schedule A hereof by the Company.
All liability and obligations under this Commitment shall cease and terminate within six (6) months after the
Effective Date or when the policy or policies committed for shall issue, whichever first occurs, provided that
the failure to issue such policy or policies is not the fault of the Company.
The Company will provide a sample of the policy form upon request.
IN WITNESS WHEREOF, WESTCOR LAND TITLE INSURANCE COMPANY has caused its corporate
name and seal to be hereunto affixed and these presents to be signed in facsimile under authority of its by-laws
on the date shown in Schedule A.
Issued By: WESTCOR LAND TITLE INSURANCE COMPANY
Countersigned:
Authorized Signature
CO 1045 * *
Pitkin County Title, Inc.
601 E. Hopkins #3
Aspen, CO 81611
CONDITIONS AND STIPULATIONS
1.The term "mortgage", when used herein, shall include deed of trust, trust deed or other security instrument.
2.If the Proposed Insured has or acquires actual knowledge of any defect, lien, encumbrance, adverse claim or
other matter affecting the estate or interest or mortgage thereon covered by this Commitment other than
those shown in Schedule B hereof, and shall fail to disclose such knowledge to the Company in writing, the
Company shall be relieved from liability for any loss or damage resulting from any act of reliance hereon to
the extent the Company is prejudiced by failure to so disclose such knowledge. If the Proposed Insured shall
disclose such knowledge to the Company, or if the Company otherwise acquires actual knowledge of any
such defect, lien or encumbrance, adverse claim or other matter, the Company at its option may amend
Schedule B of this Commitment accordingly, but such amendment shall not relieve the Company from
liability previously incurred pursuant to paragraph 3 of these Conditions and Stipulations.
3.Liability of the Company under this Commitment shall be only to the named Proposed Insured and such
parties included under the definition of Insured in the form of policy or policies committed for and only for
actual loss incurred in reliance hereon in undertaking in good faith (a) to comply with the requirements
hereof, or (b) to eliminate exceptions shown in Schedule B, or (c) to acquire or create the estate or interest
or mortgage thereon covered by this Commitment In no event shall such liability exceed the amount stated
in Schedule A for the policy or policies committed for and such liability is subject to the insuring provisions
and Conditions and Stipulations and the Exclusions from Coverage of the form of policy or policies
committed for in favor of the Proposed Insured which are hereby incorporated by reference and are made a
part of this Commitment except as expressly modified herein.
4. This Commitment is a contract to issue one or more title insurance policies and is not an abstract of title or a
report of the condition of title. Any action or actions or rights of action that the Proposed Insured may have
or may bring against the Company arising out of the status of the title to the estate or interest or the status of
the mortgage thereon covered by this Commitment must be based on and are subject to the provisions of
this Commitment.
5.The policy to be issued contains an arbitration clause. All arbitrable matters when the Amount of Insurance is $2,000,000.00 or
less shall be arbitrated at the option of either the Company or the Insured as the exclusive remedy of the parties. You may review
a copy of the arbitration rules at http://www.alta.org.
COMMITMENT FOR TITLE INSURANCE
SCHEDULE A
1.Effective Date: November 23, 2015 at 8:00 AM Case No. PCT23785W11
2.Policy or Policies to be issued:
(a)ALTA Owner's Policy-(6/17/06)Amount$ 0.00
Premium$ 0.00
Proposed Insured:Rate:
(b)ALTA Loan Policy-(6/17/06)Amount$ 0.00
Premium$ 0.00
Proposed Insured:Rate:
(c)ALTA Loan Policy-(6/17/06)Amount$
Premium$
Proposed Insured:Rate:
3.Title to the FEE SIMPLE estate or interest in the land described or referred to in this Commitment is at the
effective date hereof vested in:
ASPEN SKIING COMPANY, LLC, a Colorado limited liability company
4.The land referred to in this Commitment is situated in the County of PITKIN State of COLORADO and is
described as follows:
See Attached Exhibit "A"
PITKIN COUNTY TITLE, INC.Schedule A-PG.1
601 E. HOPKINS, ASPEN, CO. 81611 This Commitment is invalid
970-925-1766 Phone/970-925-6527 Fax unless the Insuring
877-217-3158 Toll Free Provisions and Schedules
A and B are attached.
AUTHORIZED AGENT
Countersigned:
EXHIBIT "A"
LEGAL DESCRIPTION
PARCEL 1
LOTS 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13 AND 14,
BLOCK 10,
EAMES ADDITION TO THE CITY OF ASPEN.
PARCEL 2
LOTS 1, 2, 3, 4, 5, 6 AND 7,
BLOCK 12,
EAMES ADDITION TO THE CITY OF ASPEN
PARCEL 3
A PARCEL OF LAND BEING A PORTION OF THAT PROPERTY DESCRIBED IN THE DOCUMENT RECORDED JULY
15, 1985 IN BOOK 269 AT PAGE 704; SAID PARCEL OF LAND ALSO BEING SITUATED IN GOVERNMENT LOT 1 IN
SECTION 13, TOWNSHIP 10 SOUTH, RANGE 85 WEST OF THE SIXTH PRINCIPAL MERIDIAN; SAID PARCEL
BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS:
BEGINNING AT A POINT ON THE EASTERLY BOUNDARY LINE OF BLOCK 10 EAMES ADDITION TO THE CITY OF
ASPEN, WHENCE THE NORTHEAST CORNER OF LOT 7 OF SAID BLOCK 10 BEARS N.15°46'58"E. A DISTANCE
OF 41.96 FEET; SAID POINT ALSO BEING THE SOUTHWEST CORNER OF CARIBOU CONDOMINIUMS,
ACCORDING TO THE MAP THEREOF RECORDED APRIL 24, 1973 IN PLAT BOOK 4 AT PAGE 379; THENCE
S.70°03'10"E. ALONG THE SOUTHERLY BOUNDARY LINE OF SAID CARIBOU CONDOMINIUMS A DISTANCE OF
1.01 FEET TO THE NORTHWEST CORNER OF MOUNTAIN QUEEN CONDOMINIUMS, ACCORDING TO THE MAP
THEREOF RECORDED SEPTEMBER 27, 1974 IN PLAT BOOK 4 AT PAGE 489, THENCE LEAVING SAID
SOUTHERLY BOUNDARY LINE OF SAID CARIBOU CONDOMINIUMS S.11°25'30"E. ALONG THE WESTERLY
BOUNDARY LINE OF SAID MOUNTAIN QUEEN CONDOMINIUM A DISTANCE OF 110.77 FEET TO A POINT ON THE
SOUTH LINE OF SAID GOVERNMENT LOT 1; THENCE LEAVING SAID WESTERLY BOUNDARY LINE OF SAID
MOUNTAIN QUEEN CONDOMINIUMS S.89°55'06"W. ALONG SAID SOUTH LINE OF SAID GOVERNMENT LOT 1 A
DISTANCE OF 53.70 FEET TO A POINT ON THE EASTERLY BOUNDARY LINE OF BLOCK 12 EAMES ADDITION TO
THE CITY OF ASPEN; THENCE LEAVING SAID SOUTH LINE OF SAID GOVERNMENT LOT 1 N.15°46'58"E. ALONG
THE EASTERLY BOUNDARY LINE OF SAID BLOCK 12 EAMES ADDITION A DISTANCE OF 5.21 FEET TO THE
NORTHEAST CORNER OF SAID BLOCK 12 EAMES ADDITION, SAID POINT ALSO BEING THE SOUTHEAST
CORNER OF SUMMIT STREET RIGHT OF WAY; THENCE CONTINUING N.15°46'58"E. ALONG THE EASTERLY LINE
OF SAID RIGHT OF WAY A DISTANCE OF 20.00 FEET TO THE SOUTHEAST CORNER OF SAID BLOCK 10 EAMES
ADDITION; THENCE CONTINUING N.15°46'58"E. ALONG THE EASTERLY BOUNDARY LINE OF SAID BLOCK 10
EAMES ADDITION A DISTANCE OF 88.05 FEET TO THE POINT OF BEGINNING.
PARCEL 4
A PARCEL OF LAND BEING A PORTION OF THAT PROPERTY DESCRIBED IN THE DOCUMENT RECORDED
DECEMBER 19, 1946 AS RECEPTION NO. 094502 IN BOOK 170 AT PAGE 363; SAID PARCEL OF LAND ALSO
BEING SITUATED IN GOVERNMENT LOT 31 IN SECTION 13, TOWNSHIP 10 SOUTH, RANGE 85 WEST OF THE
SIXTH PRINCIPAL MERIDIAN AS DESCRIBED BY THE DEPENDENT RESURVEY AND SURVEY PLAT OF
TOWNSHIP 10 SOUTH, RANGE 85 WEST, OF THE SIXTH PRINCIPAL MERIDIAN, FILED MAY 30, 1980 IN THE
UNITED STATES DEPARTMENT OF THE INTERIOR BUREAU OF LAND MANAGEMENT OFFICE IN DENVER,
COLORADO ("BLM PLAT"); SAID PARCEL OF LAND IS LOCATED ENTIRELY WITHIN THE CITY LIMITS OF THE
CITY OF ASPEN AND IS MORE PARTICULARLY DESCRIBED AS FOLLOWS:
BEGINNING AT A POINT ON THE WESTERLY BOUNDARY LINE OF MOUNTAIN QUEEN CONDOMINIUMS,
ACCORDING TO THE MAP THEREOF RECORDED SEPTEMBER 27, 1974 IN PLAT BOOK 4 AT PAGE 489, WHENCE
THE NORTHWEST CORNER OF SAID MOUNTAIN QUEEN CONDOMINIUMS BEARS N.11°25'30"w. A DISTANCE OF
110.77 FEET; THENCE S.11°25'30"e. ALONG SAID WESTERLY BOUNDARY LINE OF MOUNTAIN QUEEN
CONDOMINIUMS A DISTANCE OF 197.75 FEET; THENCE CONTINUING ALONG SAID WESTERLY BOUNDARY
LINE S.45°OO'OO"w. A DISTANCE OF 6.42 FEET TO THE SOUTHWEST CORNER OF SAID MOUNTAIN QUEEN
CONDOMINIUMS; THENCE LEAVING SAID WESTERLY BOUNDARY LINE S.4°00'00"w. ALONG THE EAST LINE OF
SAID GOVERNMENT LOT 31 A DISTANCE OF 281.08 FEET TO A POINT ON THE SOUTHERLY BOUNDARY LINE OF
THE SOUTH ANNEXATION TO THE CITY OF ASPEN, COLO, ACCORDING TO THE MAP THEREOF RECORDED
MARCH 24, 1967 IN PLAT BOOK 3 AT PAGE 132; THENCE LEAVING SAID EAST LINE OF SAID GOVERNMENT LOT
31 N.70°36'57"W. ALONG THE SOUTHERLY BOUNDARY LINE OF SAID SOUTH ANNEXATION TO THE CITY OF
ASPEN A DISTANCE OF 757.42 FEET TO A POINT ON THE WEST LINE OF SAID GOVERNMENT LOT 31; THENCE
N.14°40'13"E. A DISTANCE OF 35.42 FEET TO THE SOUTHERLY MOST POINT OF GOVERNMENT LT 38,
ACCORDING TO SAID "BLM PLAT"; THENCE ALONG THE COMMON LINE BETWEEN SAID GOVERNMENT LOT 31
AND SAID GOVERNMENT LOT 38 THE FOLLOWING TWO (2) COURSES:
1)N.38°38'25"e. A DISTANCE OF 72.34 FEET
2)N.45°13'35"w. A DISTANCE OF 33.86 FEET;
THENCE LEAVING THE EAST LINE OF SAID GOVERNMENT LOT 38, CONTINUING ALONG THE WEST LINE OF
SAID GOVERNMENT LOT 31 N.14°42'57"E. A DISTANCE OF 30.93 FEET TO A POINT ON THE NORTH LINE OF THE
SE1/4NE1/4 OF SECTION 13, ALSO BEING A POINT ON THE NORTH LINE OF SAID GOVERNMENT LOT 31;
THENCE LEAVING SAID WEST LINE OF SAID GOVERNMENT LOT 31 N.89°55'06"E. ALONG THE NORTH LINE OF
THE SE1/4NE1/4 OF SECTION 13, ALSO BEING THE NORTH LINE OF SAID GOVERNMENT LOT 31, A DISTANCE
OF 598.23 FEET TO A POINT ON THE WESTERLY BOUNDARY LINE OF BLOCK 12, EAMES ADDITION TO THE
CITY OF ASPEN THENCE LEAVING SAID NORTH LINES S.14°50'49"W. ALONG THE WESTERLY BOUNDARY LINE
OF SAID BLOCK 12 EAMES ADDITION A DISTANCE OF 6.17 FEET TO THE SOUTHWEST CORNER OF SAID
BLOCK 12 EAMES ADDITION; THENCE LEAVING SAID WESTERLY BOUNDARY LINE OF SAID BLOCK 12 EAMES
ADDITION S.75°09'11"E. ALONG THE SOUTHERLY BOUNDARY LINE OF SAID BLOCK 12 EAMES ADDITIONS A
DISTANCE OF 181.46 FEET TO THE SOUTHEAST CORNER OF SAID BLOCK 12 EAMES ADDITION; THENCE
N.15°46'58"E. ALONG THE EASTERLY BOUNDARY LINE OF SAID BLOCK 12 EAMES ADDITION A DISTANCE OF
54.79 FEET TO A POINT ON SAID NORTH LINE OF SAID SE1/4NE1/4 OF SECTION 13, SAID POINT ALSO BEING A
POINT ON THE NORTH LINE OF SAID GOVERNMENT LOT 31; THENCE LEAVING SAID EASTERLY BOUNDARY
LINE OF SAID BLOCK 12 EAMES ADDITION N. 89°55'06"E. ALONG THE NORTH LINE OF THE SE1/4NE1/4 OF
SECTION 13, ALSO BEING THE NORTH LINE OF SAID GOVERNMENT LOT 31, A DISTANCE OF 53.70 FEET TO
THE POINT OF BEGINNING.
INCLUDING THE VACATION OF THE SOUTH HALF OF HILL STREET, SUMMIT STREET AND THE EASTERLY HALF
OF SOUTH ASPEN STREET FROM LIFT ONE SUBDIVISION TO THE SOUTHERLY LIMITS OF THE RIGHT-OF-WAY.
SCHEDULE B - SECTION 1
REQUIREMENTS
The following are the requirements to be complied with:
ITEM (a) Payment to or for the account of the grantors or mortgagors of the full consideration for the
estate or interest to be insured.
ITEM (b) Proper instrument(s) creating the estate or interest to be insured must be executed and duly
filed for record to-wit:
THIS COMMITMENT IS FURNISHED FOR INFORMATIONAL PURPOSES ONLY, IT IS NOT A
CONTRACT TO ISSUE TITLE INSURANCE AND SHALL NOT BE CONSTRUED AS SUCH. IN THE
EVENT A PROPOSED INSURED IS NAMED THE COMPANY HEREBY RESERVES THE RIGHT TO
MAKE ADDITIONAL REQUIREMENTS AND/OR EXCEPTIONS AS DEEMED NECESSARY. THE
RECIPIENT OF THIS INFORMATIONAL REPORT HEREBY AGREES THAT THE COMPANY HAS
ISSUED THIS REPORT BY THEIR REQUEST AND ALTHOUGH WE BELIEVE ALL INFORMATION
CONTAINED HEREIN IS ACCURATE AND CORRECT, THE COMPANY SHALL NOT BE CHARGED
WITH ANY FINANCIAL LIABILITY SHOULD THAT PROVE TO BE INCORRECT AND THE COMPANY
IS NOT OBLIGATED TO ISSUE ANY POLICIES OF TITLE INSURANCE.
1.A current survey, certified by a Registered Colorado Land Surveyor must be delivered to, approved and
retained by the Company
2.Copy of the Registration duly stamped by the Secretary of State of the State of COLORADO evidencing
registration of ASPEN SKIING COMPANY, LLC and Statement of Authority and a copy of the Operating
Agreement of ASPEN SKIING COMPANY, LLC evidencing the names and addresses of the Members
and/or Managers authorized to act on behalf of said Limited Liability Company.
A Statement of Authority was recorded for Aspen Skiing Company LLC on December 31, 2007 as
Reception No. 545381, evidencing that R. Matthew Jones is the authorized person to bind the transaction
contemplated herein.
SCHEDULE B SECTION 2
EXCEPTIONS
The policy or policies to be issued will contain exceptions to the following unless the same are disposed of to
the satisfaction of the Company:
1.Rights or claims of parties in possession not shown by the public records.
2.Easements, or claims of easements, not shown by the public records.
3.Discrepancies, conflicts in boundary lines, shortage in area, encroachments, any facts which a correct
survey and inspection of the premises would disclose and which are 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 the proposed insured
acquires of record for value the estate or interest or mortgage thereon covered by this Commitment.
6.Taxes due and payable; and any tax, special assessment, charge or lien imposed for water or sewer
service or for any other special taxing district.
7.Right of the proprietor of a vein or lode to extract or remove his ore therefrom, should the same be found
to penetrate or intersect the premises hereby granted as reserved in United States Patent recorded
August 26, 1949 in Book 175 at Page 298.
8.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 reserved in United States Patent recorded
August 26, 1949 in Book 175 at Page 299.
9.Terms, conditions, provisions and obligations as set forth in Agreement recorded December 1, 1948 in
Book 175 at Page 40 and Quit Claim Deed recorded April 18, 1949 in Book 170 at Page 555. (Affects
Parcel 2).
10.Terms, conditions, provisions and obligations as set forth in Easement between the Board of County
Commissioners of Pitkin County, Colorado and Friedl Pfeifer and Assignment between Friedl Pfeifer and
Aspen Skiing Corporation recorded October 25, 1962 in Book 199 at Page 489.
11.Map of South Annexation to the City of Aspen recorded March 24, 1967 in Plat Book 3 at Page 132.
12.Ordinance No. 4, Series of 1967 by City of Aspen recorded March 24, 1967 in Book 226 at Page 143.
13.Terms, conditions, provisions and obligations as set forth in Deed between Stanford H. Johnson and
Aspen Skiing Corporation regarding easement(s) and covenants recorded December 5, 1967 in Book 231
at Page 89.
14.Terms, conditions, provisions and obligations as set forth in Deed between Aspen Skiing Corporation and
Stanford H. Johnson regarding restrictions recorded December 14, 1967 in Book 231 at Page 278.
15.Terms, conditions, provisions and obligations as set forth in Easement Agreement between City of Aspen
and Aspen Skiing Corporation recorded October 17, 1969 in Book 244 at Page 31.
16.Terms, conditions, provisions and obligations as set forth in Deed between Aspen Skiing Corporation and
Stanford H. Johnson regarding covenants recorded July 13, 1971 in Book 256 at Page 502.
17.Terms, conditions, provisions and obligations as set forth in Deed between Stanford H. Johnson and
Aspen Skiing Corporation regarding easements and covenants recorded July 13, 1971 in Book 256 at
Page 506.
18.Terms, conditions, provisions and obligations as set forth in Supplemental Easement Agreement recorded
November 5, 1971 in Book 259 at Page 83.(Affects Parcel 1)
(Continued)
SCHEDULE B SECTION 2
EXCEPTIONS - (Continued)
19.Terms, conditions, provisions and obligations as set forth in Grant of Easement recorded May 4, 1973 in Book
275 at Page 378 and Amendment to Grant of Easement recorded September 27, 1974 in Book 291 at Page
649.(Affects Parcel 1)
20.Terms, conditions, provisions and obligations as set forth in Grant of Easement to City of Aspen recorded
August 17, 1981 in Book 412 at Page 557.(Affects Parcel 1)
21.Terms, conditions, provisions and obligations as set forth in Quitclaim Deed and Assignment of Leases
recorded September 17, 1981 in Book 414 at Page 440.
22.Terms, conditions, provisions and obligations as set forth in Revocable Encroachment License recorded
October 31, 2007 as Reception No. 543674
23.Terms, conditions, provisions, obligations and all matters as set forth in Resolution of the Aspen Historic
Preservation Commission recorded November 10, 2008 as Reception No. 554124 as Resolution No. 23-2008.
24.Terms, conditions, provisions, obligations and all matters as set forth in Ordinance No. 28, Series of 2011 by
The City of Aspen City Council recorded January 10, 2012 as Reception No. 585785.
25.Easements, rights of way and all matters as disclosed on Street, Alleyway and Easement Vacation Plat
recorded March 5, 2013 in Plat Book 101 at 98 as Reception No. 597435.
26.Terms, conditions, provisions and obligations as set forth in Master Easement Agreement recorded March 5,
2013 as Reception No. 597440
27.Encroachments into South Aspen Street ROW and Hill Street as shown on Plat of Lift One Lodge
Subdivision/PUD Final Plan Set recorded March 5, 2013 in Plat Book 102 at Page 4 as Reception No. 597441.
28.Terms, conditions, provisions and obligations as set forth in USDA Forest Service Ski Area Term Special Use
Permit recorded August 26, 2015 as Reception No. 622748.
ENDORSEMENT SCHEDULE FOR OWNERS POLICY
ATTACHED TO AND BECOMING A PART OF CASE NO: PCT23785W11
SELLER:
ASPEN SKIING COMPANY, LLC, a Colorado limited liability company
BUYER:
The following endorsements will be issued in connection with the Policy to be issued hereunder as referenced above:
ENDORSEMENTS: For a fee of: $
For a fee of: $
For a fee of: $
For a fee of: $
For a fee of: $
Upon compliance with the requirements set forth below, the following exceptions will be deleted from the final policy.
The fee for deleting exceptions 1 thru 3 is $50.00
A satisfactory affidavit and agreement indemnifying the Company against any defects, liens, encumbrances, adverse
claims, or other matters known by Seller and Buyer.
The Company hereby reserves the right to make additional requirements as may be deemed necessary in the event
information regarding defects, liens, encumbrances, adverse claims, or the like are discovered.
The fee for deleting exception 4 is $10.00 for Residential Property and $25.00 for Commercial Property.
Exception Number 5 is automatically deleted upon recordation of the documents called for on the requirement page of this
commitment.
Exception Number 6 will be amended to read: Taxes for the current year not yet due or payable, upon evidence
satisfactory that the Taxes for the prior year(s) have been paid.
NOTE: A satisfactory affidavit and agreement indemnifying the Company against unfiled mechanic's and materialmens
liens, executed by the seller and any additional parties deemed necessary by the Company. The company
hereby reserves the right to make additional requirements as may be deemed necessary in the event additional facts
regarding development, construction or other building or work are disclosed to the company that may fall within any lien
period as defined in the Statues of the State of Colorado, and may result in additional premiums and/or fees for such
coverage.
NOTE: A current survey, certified by a Registered Colorado Land Surveyor must be delivered to, approved and retained by
the Company for Deletion of Printed Exception No. 3. (NOT REQUIRED FOR CONDOMINIUM OR TOWNHOME UNITS)
ADDITIONAL INFORMATION
AND DISCLOSURES
The Owner's Policy to be issued, if any shall contain the following items in addition to the ones set forth above:
(1) The Deed of Trust, if any, required under Schedule B-Section 1.
(2)Water rights, claims or title to water. (NOTE: THIS EXCEPTION WILL APPEAR ON THE OWNER'S AND
MORTGAGE POLICY TO BE ISSUED HEREUNDER)
Pursuant to Insurance Regulation 89-2
NOTE: Each title entity shall notify in writing every prospective insured in an owner's title insurance policy for a
single family residence (including a condominium or townhouse unit) (i) of that title entity's general
requirements for the deletion of an exception or exclusion to coverage relating to unfiled mechanics or
materialmens liens, except when said coverage or insurance is extended to the insured under the terms of
the policy. A satisfactory affidavit and agreement indemnifying the Company against unfiled mechanics'
and/or Materialmen's Liens executed by the persons indicated in the attached copy of said affidavit must
be furnished to the Company. Upon receipt of these items and any others requirements to be specified by
the Company upon request, Pre-printed Item Number 4 may be deleted from the Owner's policy when
issued. Please contact the Company for further information. Notwithstanding the foregoing, nothing
contained in this Paragraph shall be deemed to impose any requirement upon any title insurer to provide
mechanics or materialmens lien coverage.
NOTE: If the Company conducts the owners or loan closing under circumstances where it is responsible for
the recording or filing of legal documents from said transaction, the Company will be deemed to have
provided "Gap Coverage".
Pursuant to Senate Bill 91-14 (CRS 10-11-122)
(a) The Subject Real Property may be located in a Special Taxing District;
(b)A Certificate of Taxes Due listing each taxing jurisdiction may be obtained form the County treasurer of the
County Treasurer's Authorized Agent;
(c)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: A tax Certificate or other appropriate research will be ordered from the County Treasurer/Assessor by
the Company and the costs thereof charged to the proposed insured unless written instruction to the
contrary are received by the company prior to the issuance of the Title Policy anticipated by this
Commitment.
Pursuant to House Bill 01-1088 (CRS 10-11-123)
If Schedule B of your commitment for an Owner's Title Policy reflects an exception for mineral interests or
leases, pursuant to CRS 10-11-123 (HB 01-1088), this is to advise:
(a) 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 owners'
permission.
NOTE: The policy(s) of insurance may contain a clause permitting arbitration of claims at the request of either
the Insured or the Company. Upon request, the Company will provide a copy of this clause and the
accompanying arbitration rules prior to the closing of the transaction.
NOTICE REGARDING CONSTRUCTION FINANCING: If it is not disclosed to the company that the loan to be
insured hereunder is in fact a construction loan, any coverage given under the final policy regarding mechanic
or materialmen's liens shall be deemed void and of no effect.
Pitkin County Title, Inc.
Privacy Policy
We collect nonpublic information about you from the following sources:
•Information we receive from you, such as your name, address, telephone
number, or social security number;
•Information about your transactions with us, our affiliates, or others. We
receive this information from your lender, attorney, real estate broker, etc.; and
Information from public records
We do not disclose any nonpublic personal information about our customers or former
customers to anyone, except as permitted by law.
We restrict access to nonpublic personal information about you to those employees
who need to know that information to provide the products or services requested by
you or your lender.
We maintain physical, electronic, and procedural safeguards that company with
appropriate federal and state regulations.
Notice of Privacy Policy
of
Westcor Land Title Insurance Company
Westcor Land Title Insurance Company ("WLTIC") values its customers and is committed to protecting the privacy of
personal information. In keeping with that philosophy, we have developed a Privacy Policy, set out below, that will
ensure the continued protection of your nonpublic personal information and inform you about the measures WLTIC takes
to safeguard that information.
Who is Covered
We provide our Privacy Policy to each customer when they purchase an WLTIC title insurance policy. Generally, this
means that the Privacy Policy is provided to the customer at the closing of the real estate transaction.
Information Collected
In the normal course of business and to provide the necessary services to our customers, we may obtain nonpublic
personal information directly from the customer, from customer-related transactions, or from third parties such as our title
insurance agents, lenders, appraisers, surveyors or other similar entities.
Access to Information
Access to all nonpublic personal information is limited to those employees who have a need to know in order to perform
their jobs. These employees include, but are not limited to, those in departments such as legal, underwriting, claims
administration and accounting.
Information Sharing
Generally, WLTIC does not share nonpublic personal information that it collects with anyone other than its policy issuing
agents as needed to complete the real estate settlement services and issue its title insurance policy as requested by the
consumer. WLTIC may share nonpublic personal information as permitted by law with entities with whom WLTIC has a
joint marketing agreement. Entities with whom WLTIC has a joint marketing agreement have agreed to protect the
privacy of our customer's nonpublic personal information by utilizing similar precautions and security measures as
WLTIC uses to protect this information and to use the information for lawful purposes. WLTIC, however, may share
information as required by law in response to a subpoena, to a government regulatory agency or to prevent fraud.
Information Security
WLTIC, at all times, strives to maintain the confidentiality and integrity of the personal information in its possession and
has instituted measures to guard against its unauthorized access. We maintain physical, electronic and procedural
safeguards in compliance with federal standards to protect that information.
The WLTIC Privacy Policy can also be found on WLTIC's website at www.wltic.com.
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PITKIN COUNTY TITLE, INC.
601 E. HOPKINS, THIRD FLOOR
ASPEN, CO 81611
970-925-1766/970-925-6527 FAX
TOLL FREE 877-217-3158
WIRING INSTRUCTIONS FOR ALL TRANSACTIONS REGARDING THE CLOSING OF THIS FILE
ARE AS FOLLOWS:
ALPINE BANK-ASPEN
600 E. HOPKINS AVE.
ASPEN, CO. 81611
ABA ROUTING NO. 102103407
FOR CREDIT TO:
PITKIN COUNTY TITLE, INC., ESCROW ACCOUNT
ACCOUNT NO. 2021 012 333
REFERENCE:PCT23785W11/