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HomeMy WebLinkAboutLand Use Case.562 Race St.0071.2007.ASLUR THE CITY OF ASPEN City of Aspen Community Development Department CASE NUMBER PARCEL ID NUMBER PROJECTS ADDRESS PLANNER CASE DESCRIPTION REPRESENTATIVE DATE OF FINAL ACTION CLOSED BY 0071.2007.ASLU 2737 07 392 002 566 RACE ST JENNIFER PHELAN SUBDIVISION APP CHRISTOPHER LACROX 12/21 /2007 Angela Scorey on 07/29/2009 ~~.. ASPEN OFFICE 601 East Hyman Avenue Aspen, Colorado 81611 Telephone (970) 925-1936 Facsimile (970) 9253008 GARFIELD & HECHT, P.C. ATTORNEYS AT LAW AVON OFFICE 0070 Benchmark Road Post Office Box 5450 Avon, Colorado 81620 Telephone (970) 949-0707 Facsimile (970) 949-1810 GLENWOOD SPRINGS OFFICE The Denver Cenhc 420 Seventh Street, Suite 100 Glenwood Springs, Colorado 81601 Telephone (970) 947-1936 Facsimile (970) 947-1937 BY HAND Ms. Jennifer Phelan Deputy Planning Director City of Aspen 130 South Galena Street Aspen, Colorado 81611 Since 1975 www. garfieldhecht. com November 30, 2007 BASALT OFFICE River View Plaza 100 Elk Run Drive, Suilc 220 Basalt, Colorado 8!621 Telephone (970) 927-1936 Facsimile (970) 927-1939 Christopher J. LaCroix Aspen Office elaeroix@garfieldhecht.com RE: Application for Subdivision/Condominiumization of Lot 2 Fox Crossing Subdivision Dear Jennifer: Fox Crossing Partners, LLC, a Colorado limited liability company ("Applicant"), respectfully submits this letter as part of its subdivision application seeking permission to condominiumize Lot 2, Fox Crossing Subdivision (the "Property"). The following information is required by Aspen Land Use Code sections 26.304.030 B., and 26.480.090: • Name of Applicant: Fox Crossing Partners, LLC, a Colorado limited liability company. • Applicant's address: c/o Garfield & Hecht, P.C., attn: Christopher J. LaCroix, 601 E. Hyman Avenue, Aspen, Colorado 81611. Applicant's telephone number: (970) 925-1936. • Name address and telephone number of representative authorized to act on behalf of Applicant: Garfield & Hecht, P.C., 601 East Hyman Avenue, Aspen, Colorado 81611, tel.: (970) 925-1936, fax: (970) 925-3008. • Street address of property: 566 Race Street, Aspen, Colorado 8161~EA~~~~D .. _ , ~ .~ 2007 CITY ;)F ASPEN COMMUNiiY DEVELOPMENT ® Printed on recycled paper C GARFIELD &HECHT, P.C. Ms. Jennifer Phelan November 30, 2007 Page 2 Legal description of pronertv: Lot 2, Fox Crossing Subdivision, according to the plat thereof recorded June 20, 2005 in Plat Book 74 at Page 17 as Reception No. 511410, County of Pitkin, State of Colorado. • Parcel identification number of Provertv: 273707392002. Applicant respectfully seeks approval to subdivide the Property into two (2) condominium units and create the Fox Crossing Lot 2 Condominiums. Also enclosed herewith, are (i) two drafts of the proposed condominium map; (ii) current title commitment from Stewart Title Guaranty Company showing Applicant as owner of the Property; (iii) Agreement for Payment of City of Aspen Development Application Fees; and (iv) a check payable to the Aspen/Pitkin Community Development Department in the amount of $705.00. Thank you in advance for your consideration. Please contact me once you have had a chance to review the enclosed materials. Very truly yours, GARF~T, P.C. By: Christopher J. LaCroix Enclosures Copies to: Harris Cahn (via a-mail) Rick Crandall (via a-mail) C[TY OF ASPEN COMMUNITY DEVELOPMENT DEPARTMENT Aereement for Payment of City of /Af~en Development Application Fees CITY OF ASPEN (hereinafrer•CITY) and ~~ K°SSi4ry Pd~~uS, ~C- (hereinafrex APPLICANT) AGREE AS FOLLOWS: co CITY an application fox ~mIZ411 J~1 ~ Lo ~' a ~bX, t/VSSI at SVlOblvl (hereinafter, THE PROJECT). Z. APPLICANT understands and agrees that City of Aspen Ordinance No. 48 (Series of 2006) establishes a fee structure for Land Use applications and the payment of all processing fees is a condition precedent to a determination of application completeness. 3. APPLICANT and CITY agree that because of the size, nature or scope of the proposed project, it is not possible at this time to ascertain the full extent of the costs involved in processing the application. APPLICANT and CITY further agree that it is in the interest of the parties that APPLICANT make payment of an initial deposit and to thereafter permit additional costs to be billed to APPLICANT on a monthly basis. APPLICANT agrees additional costs may accrue following their hearings atuUor approvals. APPLICANT agrees he will be beneficed by re[aining greater cash tiquidity and will make additional payments upon notification by the CITY when they are necessary as costs are incurred. CITY agrees it will be benefited through the greater certainty of recovering its full costs to process APPLICANT'S application. 4. C[TY and APPLICANT further agree that it is impracticable for CITY staff to complete processing or present sufficient information to the Planning Commission and/or City Council to enable the Planning Commission and/or City Council to make legally required findings for project consideration, unless current billings are paid in full prior to decision. 5. Therefore, APPLICANT agrees that in consideration of the CITY's waiver of its right to collect full fees prior to a determination of application completeness, APPLICANT shall pay an initial deposit in the amount of $'~S4Y which is for _ hours of Community Development staff time, and if acrual recorded costs exceed the initial deposit, APPLICANT shall pay additional monthly billings to CITY to reimburse the CITY for the processing of the application mentioned above, including post approval review a[ a rate of $235.00 per planner lrour over the initial deposit. Such periodic payments shall be made within 30 days of the billing date. APPLICANT further agrees that failure to pay such accrued costs shall be grounds for suspension of processing, and in no case will building permits be issued until all costs associated with case processing have been paid. CITY OF ASPEN APPLICANT f ~^ emu' Qar'ywjt k~'~' ay: Alpne. C ariw~s,1.~~-. ~+s M''"~ By. Chris Bendon 64~9rf'S q~ ~ I1pNASe!' Community Development Director Date: Alm '~00~ Billing Address and Telephone Number: Re u' 601 ~. Hopk,;,S +2a2~ Asge~ fit) Sldli g7o•92O.ooo-~ C:\Documents and Settings\johannahr\Desktop\LUFeeAgree.doc ~..., ALTA Commimient (6/I7/O6) ALTA Commitment Form COMMITMENT FOR TITLE INSURANCE steewart title guaranty company Stewart Title Guaranty Company, a Texas Corporation ("Company"), for a valuable consideration, comtnits 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 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 Schedules 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 by the Company. All liability and obligation under this Commitment shall cease and terminate six months after the Effective Date or when the policy or policies committed for shall issue, whichever first occurs, provided that the failure to issue the policy or policies is not the fault of the Company. The Company will provide a sample of the policy form upon request. This commitment shall not be valid or binding until countersigned by a validating officer or authorized signatory. IN WITNESS WHEREOF, Stewart Title Guazanty Company has caused its corporate name and seal to be hereunto affixed by its duly authorized officers on the date shown in Schedule A. Countersigned: Au~Caw~^\ Stewart Title of Colorado Inc. -Aspen Division 620 East Hopkins Avenue Aspen, Colorado 81611 Phone Number: (970) 925-3577 St@Wa!'t title guaranty company ~-Senior Chairman of a Board Chairman of the 6oa~ l~~ President ALTA Commitment (6/17/06) ,-. .. CONDITIONS L The term mortgage, when used herein, shall include deed of trust, trust deed, or other security instrument. 2. If the proposed Insured has or acquired 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, 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 conunitted 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 arbitrations clause. All arbitrable matters when the Amount of Insurance is $2, 000, 000 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 ai< http: //lulu w. al ta. orQ/>. ~~~~~~ title guaranty company All notices required [o be given the Company and any statement in writing required to be famished the Company shall be addressed to it at P.O. Box 2029, Houston, Texas 77252. ... COMMITMENT FOR TITLE INSURANCE SCHEDULE A 1. Effective Date: November 21, 2007 at 8:00 a.m. 2. Policy or Policies To Be Issued: (a) A.L.T.A. Owner's (Extended) Proposed Insured: *Fox Crossing Aspen House G, LLC, a Delaware ]imited liability company. (b) A.L.T.A. Loan Proposed Insured: (Extended) MBank Midwest, NA., its successors and/or assigns. $3,028,600.00 3. The estate or interest in the land described or referred to in this Commitment and covered herein is: Fee Simple 4. "title to the Fee Simple estate or interest in said land is at the effective date hereof vested in: Fox Crossing Parh~ers, LLC, a Colorado limited liability company 5. The land referred to in this Commitment is described as follows: See "Exhibit A" attached hereto Purported Address: 0566 Race St. Aspen, Colorado 81611 STATEMENT OF CHARGES These chazges aze due and payable before a Policy can be issued: SEE STATEMENT OF CHARGES, ATTACHED HERETO Order No.: 44699-C4 Amount of Insurance $3,785,750.00 Ordcr No.: 44699-C4 Stewart ALTA Commitment (6/1 ~/06) - Schedule A ~titie guaranty tympany Page I of 3 ,~. j.,,. EXHIBTT "A" Uuit A, FOX CROSSING LOT 2 CONDOMINI[JMS, according to the Condominium Map thereof recorded , 2007 in Plat Book _ at Page _ as Reception No. ,and as deFined and described in the Condominium Declaration for Fox Crossing Lot 2 Condominiums recorded , 2007 as Reception No. > County of Pitkin, State of Colorado Order No.: 41699-C4 ~~Q~ /~ //~ r~ ALTA Commitment (6/17/06) - Schedule A r~iY VGJ Page 2 of3 title guaranTy company .-. .~ *SuUDivider Rate Tax Certificate Form 110.1 (Owners) Form 100 (Lender) Form 8.1 (Lender) Form 110.1 (Lender) STATEMENT OF CHARGES $ 20.00 $ 150.00 Owner's Policy $ 3,323.00 Premium $ 50.00 Lender's Policy $ 100.00 Premium $ 50.00 Form 115.1 (Lender- $ 601.00 CONDO) $ 75.00 Note: * Indicates changes from prior Commitment. Order l`o.: 44699-C4 CT~Wa~ AL"CA Commihnent (6/17/06) - Schedule A VVVV ~«<....VVVV Paae 3 of3 title guaranty company COMMITMENT FOR TITLE INSURANCE SCHEDULE B -Section 1 REQUIREMENTS Order Number: 44699-C4 The following are the requirements to be complied with: 1. Payment to or for the account of the grantor(s) or mortgagor(s) of the full consideration for the estate or interest to be insured. 2. Proper instrument(s) creating the estate or interest to be insured must be executed and duly filed for record. 3. Partial Release of Deed of Trust dated June I5, 2006, executed by Fox Crossing Partners, LLC, to the Public Trustee of Pitkin County to secure an indebtedness in the amount of $41,000,000.00 in favor of Bank Midwest, N.A., recorded June 16, 2006 as Reception No. 525324. 4. Partial Termination of Financing Statement from Fox Crossing Partners, debtors to Bank Midwest, N.A. secured party filed June 16, 2006 as Reception No.525330. 5. Partial Release of Deed of Trust dated June 20, 2005, executed by Fox Crossing Partners LLC, to the Public Trustee of Pitkin County to secure an indebtedness in the amount of $1,600,000.00 in favor of Charles Shafer, II, recorded June 23, 2005 as Reception No.511580. 6. Partial Release of Deed of Trust dated June 20, 2005, executed by Fox Crossing Partners LLC, to the Public Trustee of Pitkin County to secure an indebtedness in the amount of $1,800,000.00 in favor of Meridian Capital Group III, Inc., recorded June 23, 2005 as Reception No.511581. 7. Partial Release of Deed of Trust dated September 20, 2007, executed by Fox Crossing Partners, LLC, to the Public Trustee of Pitkin County to secure an indebtedness in the amount of $4,000,000.00 in favor of Bank Midwest, N.A., recorded September 25, 2007 as Reception No.542384 and rerecorded October 5, 2007 as Reception No. 542700. 8. Partial Ternination of Financing Statement from Fox Crossing Partners, LLC, debtors to Bank Midwest, N.A., secured party filed October 4, 2007 as Reception No. 542686. 9. Plat of property depicting Unit A, Fox Crossing Lot 2 Condominiums, or other unit. 10. Evidence satisfactory to Stewart Title Guaranty Company, furnished by the Office of the Director of Finance, City of Aspen, that the following taxes have been paid, or that conveyance is exempt from said taxes: (1) The "Wheeler Real Estate Transfer Tax pursuant to Ordinance No. 20 (Series of 1979) and (2) The "Housing Real Estate Transfer Tax" pursuant to Ordinance No. 13 (Series of 1990). Order No.: 44699-C4 st@Wart ALTA Commitment (6/t7/O6) - Schedule B l title guarenty company Paae l of 3 ... 11. A. Certificate ofnon-foreign status, duly executed by the seller(s), pursuant to Section 1445 of the Internal Revenue Code AND B. Satisfactory evidence of the seller(s) Colorado residency (or incorporation) pursuant to Colorado House Bi1192-1270. NOTE: Section 1445 of the Internal Revenue Code requires withholding of tax from sales proceeds if the transferor (seller) is a foreign person or entity. Colorado House Bi1192-1270 may require withholding of tax from sales proceeds if the seller(s) is not a Colorado resident. Detailed information and Forms aze available from Stewart Title. 12. *The following is required with respect to Fox Crossing Aspen House G, LLC, a Delaware limited liability company: a. Satisfactory evidence furnished by the Secretary of State in which Articles were filed, confirming that said Limited Liability Company is in good standing. (i.e., Certificate of Good Standing, or copy of Articles of Organization bearing file stamp from the Secretary of State.) b. Copy of the Articles of Organization of said Limited Liability Company. c. Copy of the Operating Agreement of said Limited Liability Company. NOTE: If any Managers are themselves partnerships trusts, limited liability companies or corporations, additional requirements will be necessary. 13. #Statement of Authority for Fox Crossing Aspen House G, LLC, a Delaware limited liability company pursuant to the provisions of Section 38-30-172 C.R.S., and must contain the following: (a) The name of the entity; (h) The type of entity and the state, country, or other governmental authority under whose laws it was formed; (c) A mailing address for the entity; and (d) The name or positions of the person authorized to execute instruments conveying, encumbering, or other wise affecting title to real property on behalf of the entity, and any limitations that may exist upon the authority of the person named. 14. Duly executed Indemnity Agreement by Fox Crossing Partners, LLC, a Colorado limited liability company indemnifying Stewart Title of Aspen, Inc. against any and all loss or damage due to rights and claims of parties established by virtue of construction of improvements located on the subject property. (Form available from Stewart Title). 15. Duly executed affidavit by the chief executive officer or general partner of RJW Builders, Inc stating that: 1. They are the general contractor for all improvements constructed on the subject property. Order No.: 14699-C4 f a ~,ewGY t ALTA Commitment (6117!06) - Schedule B l L-~ti[le guarenty company Paee 2 of 3 .., 2. All construction has been completed. 3. They have been paid in full. 4. All subcontractors and/or any parties which provided lienable services or materials for said construction project have been paid. 5. A complete list of names, addresses and phone numbers of all subcontractors/suppliers are attached to the Affidavit. 16. Deed from vested owner, vesting fee simple title in purchaser(s). 17. Deed of Trust from the Borrower to the Public Trustee for the use of the proposed lender to secure the loan. Order No.: 44599-C4 (~t ALMA Commitment (6/17/06) - Schedule B ! ~ title guaranty company Page 3 of 3 COMMITMENT FOR TITLE INSURANCE SCHEDULE B -Section 2 EXCEPTIONS Order Number: 44699-C4 The policy or policies to be insured 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. Any encroachment, encumbrance, violation, variation, or adverse circumstance affecting the title that would be disclosed by an accurate and complete land survey of the Land and not shown by the public records. 4. Any lien, or right to a lien, for services, labor or material heretofore or hereafter famished, imposed by law and not shown by the public records. 5. Defects, liens, encumbrances, adverse claims or other matters, if any, created, first appearing 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. Unpatented mining claims, reservations or exceptions in patents, or in acts authorizing the issuance thereof. 7. Water rights, claims or title to water. 8. Any an all unpaid taxes and assessments and any unredeemed tax sales. The effect of inclusions in any general or specific water conservancy, fire protection, soil conservation or other district or inclusion in any water service or street improvement area. 9. 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 December 24, 1902 in Book 55 at Page 116 as Reception No. 67875. 10. Terms, conditions, obligations and provisions of Ordinance No. 57 (Series of 1988) An Ordinance Annexing Territory to the City of Aspen as Keferred to and Described in that Petition for Annexation of Territory to the City of Aspen Certified by the City Clerk on July 28, 1986, Commonly known as the ""Williams Addition"" as set forth in instrument recorded January 6, 1989 in Book 585 at Page 330 as Reception No. 308587 and as shown on Plat recorded February 6, 1989 in Plat Book 22 at Page 15 as Reception No. 308586. Order No.: 14699-C4 ~eWart ALTA Commitment (6/17/06) - Schedule B 2 ~ title guaranty company Page 1 of 4 ,~ 11. Underground Right of Way Easement, fifteen (15) feet in width, granted unto Holy Cross Energy as set forth in instrument recorded August 17, 1999 as Reception No. 434513. 12. Right of Way for Lone Pine Road and Gibson Avenue. 13. Terms, conditions, obligations and provisions of An Ordinance of the City Council of the City of Aspen, Colorado, Vacating Portions of the Walnut Avenue Right-of--Way Containing 1,050 Squaze Feet all within the City of Aspen, Pitkin County, Colorado, Ordinance No. 19 (Series of 1993) as set forth in instrument recorded May 3, 1993 in Book 710 at Page 990 as Reception No. 356442 and re-recorded November 7, 1995 in Book 798 at Page 938 as Reception No. 387120. 14. Easements, rights of way and other matters as shown and contained on Plat of Griffith Property, I,LC, Lot Split Subdivision Exemption and Condominium Plat recorded January 28, 2003 in Plat Book 64 at Page 23 as Reception No. 477899. 15. Underground right of way Easement granted unto Holy Cross Energy, a Colorado corporation as set forth in instrument recorded November 7, 2002 as Reception No. 474475. 16. Terms, conditions, obligations and provisions of An Ordinance of the City of Aspen City Council Approving a Subdivision Exemption Lot Split for Lots 1 and 2 of the Property to be known and Dedicated as the Griffith Property LLC Lot Split located at 700 Gibson Avenue, City of Aspen, Pitkin County, Colorado, Ordinance No. 37 (Series of 2002) as set forth in instrument recorded December 5, 2002 as Reception No. 475668. 17. Terms, conditions, obligations, provisions and easements of Trench, Conduit, and Vault Agreement between Griffith Property, LLC and Holy Cross Energy, a Colorado corporation as set forth in instrument recorded December 6, 2002 as Reception No. 475736. 18. Terms, conditions, obligations, provisions and easements of Easement Agreement by and between The Griffith Property, LLC, a Colorado limited liability company and Walnut Property, LLC, a Colorado limited liability company as set forth in instrument recorded November 13, 2003 as Reception No. 491104. 19. Any and all ores or minerals which may be had, mined or found within the surface boundaries of said granted premises so far as the same may or can be worked without interfering with the surface of said premises, as reserved in Deed recorded November 9, 1901 in Book 142 at Page 496 as Reception No. 66468. 20. Terms, conditions, obligations, provisions and easements of City of Aspen Ordinance No. 52 (Series of 1988) as set forth in instrument recorded February 6, 1989 in Book 585 at Page 330 as Reception No. 308587; and on the Annexation Plat recorded in Plat Book 22 at Page 15 as Reception No. 308586. 21. Terms, conditions, obligations and provisions of City of Aspen, Water Service Agreement between the City of Aspen and Clourie Bennis as set forth in instrument recorded September 17, 1996 as Reception No. 397127. 22. Terms, conditions, obligations and provisions of Resolution of the Aspen Historic Preservation Order Na.: 44699-C4 S4Vrr(~ L ALTA Commitment (6/17106) - Schedule B 2 ~ title guaranty company Page 2 of 4 >~. ~..~: Commission (HPC) Approving an Application for Major Development (Final) for the Property Located at 555 and 557 Walnut Street, Which are Described as Lots 2-5, Block 3, Williams's Addition to the City and Townsite of Aspen, Colorado, Resolution No. 15, Series of 2005 as set forth in instrument recorded May 26, 2005 as Reception No. 510584. 23. Easements, rights of way and other matters as shown and contained on Plat of Fox Crossing Subdivision recorded June 20, 20005 in Plat Book 74 at Page 17 as Reception No. 511410. 24. Terms, conditions, obligations and provisions of Subdivision Agreement for Fox Crossing Subdivision as set forth in instrument recorded June 20, 2005 as Reception No. 511411. 25. Terms, conditions, obligations and provisions of Agreement by and between Walnut Property, LLC and the City of Aspen as set forth in instrument recorded June 20, 2005 as Reception No. 511425. 26. Terms, conditions, obligations and provisions of Ordinance No. 50 (Series of 2004) An Ordinance of the City of Aspen City Council, Approving Three Growth Management Quota System Exemptions, Vacation of a Portion of Race Street, and a Fourteen Lot Subdivisions to be Known as the Fox Crossing Subdivision on Land Located between Lone Pine Road and Race Alley between Walnut Street and Race Street, 557 Race Alley and Vicinity, City of Aspen, Pitkin County, Colorado as set forth in instrument recorded June 20, 2005 as Reception No. 511408, AND, Affordable Housing Impact Fee Deferral Agreement, as set forth in instrument recorded June 14, 2006 as Reception No. 525210, AND, Affordable Housing Impact Fee Deferral Agreement, as set forth in instrument recorded June 14, 2006 as Reception No. 525211, AND, Affordable Housing Impact Fee Deferral Agreement, as set forth in instrument recorded June 20, 2006 as Reception No. 525489, AND, Affordable Housing Impact Fee Deferral Agreement, as set forth in instrument recorded June 20, 2006 as Reception No. 525490, AND, Affordable Housing Impact Fee Deferral Agreement, as set forth in instrument recorded June 20, 2006 as Reception No. 525491, AND, Affordable Housing Impact Fee Deferral Agreement, as set forth in instrument recorded January 11, 2007 as Reception No. 533253, AND, Affordable Housing Impact Fee Deferral Agreement, as set forth in instrument recorded February 7, 2007 as Reception No. 534231, AND, Affordable Housing Impact Fee Deferral Agreement, as set forth in instrument recorded February 7, 2007 as Reception No. 534233, AND, Affordable Housing Impact Fee Deferral Agreement, as set forth in instrument recorded February 7, 2007 as Reception No. 534232, AND, Affordable Housing Impact Fee Deferral Agreement, as set forth in instrument recorded February 7, 2007 as Reception No. 534231, AND, Affordable Housing Impact Fee Deferral Agreement, as set forth in instrument recorded February 7, 2007 as Reception No. 534232, AND, Affordable Housing Impact Fee Deferral Agreement, as set forth in instrument recorded February 7, 2007 as Reception No. 534233. and Affordable Housing Impact Fee Deferral Agreement recorded June 5, 2007 as Reception No. 538577 and Affordable Housing Impact Fee Deferral Agreement recorded September 28, 2007 as Reception No. 542525. 27. Terms, conditions, obligations, provisions and easements of Revocable Encroachment License as set forth in instrument recorded June 2Q, 2005 as Reception No. 511409. 28. Terms, conditions, obligations and provisions of Deed Restrictions by Fox Crossing Partners, LLC, a Colorado limited liability company for the benefit of the City of Aspen, Colorado as set forth in instruments recorded December 22, 2005 as Reception No.'s 518771, 518772, 518773, and recorded February 2, 2006 as Reception No.'s 520463, 520464, 520465, 520466, 5-2104-67 and Order No.: 44699-C4 ~`~\/~/art ALTA Commitment (6/17/06) - Schedule B 2 ~J ~.v ~ ~ a~.i Yage 3 of 4 title guaranTy company ~. ~, 520468. 29. Declaration of Utility Easements by Fox Crossing Partners LLC recorded September 26, 2007 as Reception No. 542422. 30. All matters shown on the plat for Unit G Fox Crossing Lot 2 Condominiums recorded Exceptions 1 and 4 may be deleted from the fmal owner's policy, provided that the seller(s) and purchaser(s) execute the Company's affidavits, as required herein, and the Company approves such deletions. Exceptions 2 and 3 may be deleted from the final owner's policy, provided that the Company receives and approves the herein required survey/ILC. Exception 5 will not appeaz on the final owner's policy, provided that the Company, or its authorized agent, conducts the closing of the proposed transaction and is responsible for the recording of the transaction documents. Order No.: 44699-C4 ALTA Commitment (6/l7/06)-Schedule B 2 S ~rY YQ~~ Page 4 or4 ~Utle guararrty company r°~ .,r DISCLOSURES Order Number: 44699-C4 • Note: Pursuant to C.RS. 10-I1-122, notice is hereby given that: A. The subject real property maybe located in a special mxing district; B. A certificate of taxes due listing each taxing jurisdiction shall be obtained from the county treasurer or the county treasurer's authorized agent; C. Information regazding special districts and the boundaries of such districts may be obtained from the boazd of county commissioners, the county clerk and recorder, or the county assessor. Note: Colorado Division of Insurance Regulations 3-5-t, Subparagraph (7) (E) requires that "Every title entity shall be responsible for all matters which appear of record prior to the time of recording whenever the title entity conducts the closing and is responsible for recording or filing of legal documents resulting from the transaction which was closed." Provided that Stewart Tile of Colorado Inc. -Aspen Division conducts the closing of the insured transaction and is responsible for recording the legal documents from the transaction, exception number 5 will not appear on the Owner's Title Policy and the Lender's Title Policy when issued. Note: Affirmative Mechanic's Lien Protection for the Owner may be available (typically by deletion of Exception No. 4 of Schedu]e B, Section 2 of the Commitment from the Owner's Policy to be issued) upon compliance with [he following conditions: A. The land described in Schedule A of this commitment must be asingle-family residence, which includes a condominium or townhouse unit. B. No labor or materials have been furnished by mechanics or materiahnen 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 unfilled mechanic's and Materiahnen'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 lines will include: disclosure of certain construction information; fmancial information as to the seller, dre 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. Note: Pursuant to C.R.S. 10-I1-123, notice is hereby given: 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. This nonce applies to owner's policy commitments containing a minernl severance instrument exception, or exceptions, in Schedule B, Section Z. NOTHllYG 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. Order No. 44(i9YL4 Stewart Title of Colorado lnc. -Aspen Division Disclosures .-~. EXHIBIT 2 Stewart Title of Colorado Inc. -Aspen Division. PRIVACY POLICY NOTICE PURPOSE OF THIS NOTICE Title V of the Gramm-Leach-Bliley Act (GLBA) generally prohibits any financial institution, directly or through its affiliates, from sharing nonpublic 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 Stewart Title of Colorado Inc. -Aspen Division. We may collect nonpublic personal information about you from the following sources: • Information we receive from you, such as on applications or other forms. • Information about your transactions we secure from our 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 customers 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 staffers 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 BYLAW. 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. Fl'le Number: 44699-C4 Stewart Title of Colorado Ina -Aspen Division Privacy Policy Notice Page 1 of 1 rw ,. EXHIBIT 1 Stewart Title (Uuaranty Company PRIVACY POLICY NOTICE PURPOSE OF THIS NOTICE Title V of the Gramm-Leach-Bliley Act (GLBA) generally prohibits any financial institution, directly or through its affiliates, from sharing nonpublic 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 aze providing you with this document, which notifies you of the privacy policies and practices of Stewart Title Guaranty Company. We may collect nonpublic personal information about you from the following sources: • Information we receive from you, such as on applications or other forms. • Information about your transactions we secure from our 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 customers 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 mazketing 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-fmancial companies such as envelope staffers 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 safeguazds that comply with federal regulations to guard your nonpublic personal information. File Number: 44699-C4 Stewart Title of Colorado Inc. -Aspen Division Privacy Policy Notice Pale l of l