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HomeMy WebLinkAbout1.19 Linked Title CommitmentView your transaction progress 24/7 via SureClose. Ask us about your login today! Glenwood Springs Division 1620 Grand Avenue Glenwood Springs, Colorado 81601 Phone: 970-945-5434 Fax: 1-800-886-2330 Date:October 14, 2011 Order Number:952654 Buyer:Antonia Zurcher Seller:Thomas J. Monckton and Evelyn M. Monckton Property 4110 243 County Road,New Castle,CO 81647 Please direct all Closing inquiries to: Amy L. Perrin (Cartwright) Phone: 970-945-5434 Email Address: amy.perrin@stewart.com Please direct all Title inquiries to: Susan Sarver Phone: 970-945-5434 or 866-932-6098 Email Address: susan.sarver@stewart.com SELLER: Thomas J. Monckton Evelyn M. Monckton 4110 County Road 243 New Castle, Colorado 81647 BUYER/BORROWER: Antonia Zurcher 13931 County Road 730 Gunnison, Colorado 81230 LISTING BROKER: Remax Attn: Mike Deer Post Office Box 2090 Glenwood Springs, Colorado 81602 Phone: (970) 618-3081 Email Address: mikedeer@sopris.net SELLING BROKER: Aspen Associates - Realty Group, LLC Attn: Colter Smith The Elks Building 510 East Hyman, Suite 21 Aspen, Colorado 81611 Phone: (970) 544-5800 (970) 544-5800 Fax: (970) 544-8185 Email Address: csmith@sopris.net LENDER: TBD ALTA Commitment (6/17/06) ALTA Commitment Form COMMITMENT FOR TITLE INSURANCE Issued by Stewart Title Guaranty Company, a Texas Corporation (“Company”), for a valuable consideration, 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 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 Guaranty 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: Stewart Title Glenwood Springs Division 1620 Grand Avenue Glenwood Springs, Colorado 81601 Phone: 970-945-5434 Fax: 1-800-886-2330 President Chairman of the Board Senior Chairman of the Board PresidentPresident Chairman of the BoardChairman of the Board Senior Chairman of the BoardSenior Chairman of the Board Order Number: 952654 Title Officer: Susan Sarver ALTA Commitment (6/17/06) COMMITMENT FOR TITLE INSURANCE SCHEDULE A 1. Effective Date:September 16, 2011, at 8:00 a.m.Order Number:952654 Title Officer: Susan Sarver 2. Policy or Policies To Be Issued:Amount of Insurance: (a) A.L.T.A. Owner’s Proposed Insured: (Extended)$875,000.00 Antonia Zurcher, and/or assigns (b) A.L.T.A. Loan Proposed Insured: (Standard)$475,000.00 Thomas L. Monckton and Evelyn M. Monckton, their successors and/or assigns 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: Thomas J. Monckton and Evelyn M. Monckton 5. The land referred to in this Commitment is described as follows: See Attached Legal Description Purported Address: 4110 243 County Road New Castle, Colorado 81647 Statement of Charges: These charges are due and payable before a Policy can be issued: Basic Rate 2006 Owner’s Policy:$2022.00 Owner’s Extended Coverage:$50.00 2006 Loan Policy:$85.00 Tax Certificate:$20.00 Lenders Extended Coverage $50.00 ALTA Form 8.1-06:$50.00 ALTA Form 9-06:$169.00 SCHEDULE A LEGAL DESCRIPTION A tract of land situated in Sections 35 and 36, Township 4 South, Range 91 West of the 6th P.M., said tract being a portion of that tract described in Book 351 at Page 230 in the Office of the Garfield County Clerk and Recorder and more fully described as follows: Beginning at a point on the line between Corners No. 1 and No. 2 of H.E.S. No. 38 whence said Corner No. 1 bears South 0330'51'' East 367.74 feet; thence North 0330'51'' West 946.34 feet to Corner No.2; thence North 3230'51'' West 558.48 feet to Corner No. 3; thence North 1720'31'' West 386.34 feet; thence North 7622'32'' East 531.61 feet along the Southerly boundary of that tract described in Book 862 at Page 503; thence South 5434'04'' East 83.24 feet along the boundary of that tract described in Book 862 at Page 502; thence South 6035'19'' East 79.86 feet; thence North 6854'49'' East 332.34 feet; thence North 5958'36'' West 171.86 feet; thence North 4104'41'' West 37.30 feet; thence North 28'25'53'' West 56.46 feet; thence North 0629'35'' West 72.68 feet; thence North 0214'15'' East 95.44 feet; thence North 2143'20'' West 57.32 feet; thence departing said boundary North 2422'25'' West 307.87 feet; thence North 0552'28'' East 177.12 feet; thence North 2105'07'' East 56.29 feet; thence North 7914'41'' East 455.29 feet to the Easterly line of said H.E.S. No. 38; thence along said Easterly line South 1632'26" East 2512.66 feet to the Northeast corner of that tract described in Book 709 at Page 352; thence along said boundary North 8904'45'' West 367.48 feet; thence North 0054'59'' East 348.48 feet to the Southeast Corner of that tract described in Book 996 at Page 366; thence along said boundary North 3056'40'' East 239.33 feet; thence North 1609'58'' West 295.50 feet; thence North 8903'20'' West 110.00 feet; thence South 2022'35'' West 519.30 feet to a point on the boundary of said tract described in Book 996 at Page 366 said point also being the North boundary point of that tract described in Book 1250 at Page 426; thence along said boundary South 3802'31'' West 437.14 feet to a point on the boundary of said tract described in Book 709 at Page 352; thence along said boundary South 1204'01'' West 230.03 feet; thence South 1548'10'' East 184.92 feet; thence South 6538'46'' East 129.23 feet to the Northwest corner of that tract described in Book 725 at Page 898; thence along said boundary South 1452'45'' West 32.17 feet to the centerline of the 30 foot access easement described in Book 709 at Page 352; thence along said centerline and easement described in Book 709 at Page 352; thence along said centerline and along a curve to the left with an arc length of 49.81 feet, a radius of 71.41 feet, a central angle of 3957'52'', a chord bearing of North 6906'05'' West, a chord length of 48.81 feet; thence North 8905'01'' West 150.00 feet; thence along a curve to the left with an arc length of 99.68 feet, a radius of 506.90 feet, a central angle of 1116'01'', a chord bearing of South 8516'59'' West, a chord length of 99.52 feet; thence South 7938'59'' West 279.12 feet to the POINT OF BEGINNING. TOGETHER with that portion described in Special Warranty Deeds recorded July 25, 2007 in Book 1954 at Pages 461-466 as Reception No. 729027 and 729028. County of Garfield, State of Colorado COMMITMENT FOR TITLE INSURANCE SCHEDULE B – Section 1 REQUIREMENTS Order Number:952654 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. Evidence satisfactory to Stewart Title Guaranty Company of payment of all outstanding taxes and assessments as certified by the County Treasurer. 4. Execution of Affidavit as to Debts and Liens and its return to Stewart Title Guaranty Company. NOTE: If work has been performed on, or in connection with, the subject property (architectural drawings, soils testing, foundation work, installation of materials), please notify the Company’s escrow officer within 10 days of receipt of this title commitment 5. THE FOLLOWING REQUIREMENT IS FOR DELETION OF SURVEY EXCEPTIONS 2 AND 3 OF THE OWNERS POLICY: A SURVEY, meeting the minimum detail standards of the ALTA/ACSM, Survey OR IMPROVEMENT LOCATION CERTIFICATE, prepared by a registered Colorado surveyor, within the last TWO MONTHS, must be presented to Stewart Title Guaranty Company, for its approval prior to the deletion of any survey exceptions from the OWNERS POLICY. Stewart Title Guaranty reserves the right to take exception to any adverse matters as shown on said survey, or make further inquiry or requirements relative thereto. Said Survey, must be certified to Stewart Title of Colorado and/or Stewart Title Guaranty Company. 6. Release by the Public Trustee of the Deed of Trust from Thomas J. Monckton and Evelyn M. Monckton for the use of Alpine Bank to secure $442,528.50, dated June 28, 2004 recorded June 28, 2004 in Book 1600 at Page 121 as Reception No. 654846. Modification of Deed of Trust, filed in connection with the above Deed of Trust, recorded August 29, 2007 as Reception No. 731881. 7. Deed from vested owner(s) vesting fee simple title in the purchaser(s). Note: notation of the legal address of the grantee must appear on the deed as per 1976 amendment to statute on recording of deeds CRS 38-35-109 (2). 8. Deed of Trust from the Borrower to the Public Trustee for the use of the proposed lender to secure the loan. COMMITMENT FOR TITLE INSURANCE SCHEDULE B – Section 2 EXCEPTIONS Order Number: 952654 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. Any encroachment, encumbrance, violation, variation, or adverse circumstance affecting the title that would be disclosed by an accurate and complete land survey of the land and not shown by the public records. 4. Any lien, or right to a lien, for services, labor or material heretofore or hereafter furnished, imposed by law and not shown by the public records. 5. Defects, liens, encumbrances, adverse claims or other matters, if any, created, first appearing in the public records or attaching subsequent to the effective date hereof, but prior to the date 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 and all unpaid taxes and assessments and any unredeemed tax sales. 9. 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. 10. Right of way for ditches or canals constructed by the authority of the United States, as reserved in United States Patent recorded December 13, 1913 in Book 92 at Page 267 as Reception No. 48425. 11. Easement and right of way for Clinetop Ditch as disclosed by Statement and Map, recorded August 28, 1888 as Reception No. 7515, insofar as subject property may be affected. 12. Easement and right of way for ditch purposes as granted to John Roletto by William Sheppard, Harrison Clinetop, Lucy Clinetop Hale and Sarah E. Shaw by instrument recorded November 7, 1914 in Book 86 at page 319 as Reception No. 50379, in which specific location of the easement is not defined. 13. Easement and right of way for County Road purposes granted to Board of County Commissioners for Garfield County by S. E. Shaw and Lucy Clinetop Hale recorded March 15, 1921 in Book 117 at Page 478 as Reception No. 74651, in which specific location of the easement is not defined. 14. Easement and right of way for road as granted to The Board of County Commissioners of Garfield County by Henry Rohwer in the instrument recorded March 15, 1921 in Book 117 at page 479 as Reception No. 74653, insofar as subject property may be affected. 15. Affidavit, recorded December 21, 1972 in Book 439 at Page 102 as Reception No. 256447. 16. Resolution No. SB-35, recorded December 8, 1975 in Book 481 at Page 79 as Reception No. 270479. 17. Resolution No. 81-216, recorded July 24, 1981 in Book 577 at Page 611 as Reception No. 317374. 18. Affidavit RE: Boundary Line Adjustment, recorded September 27, 1985 in Book 676 at Page 286 as Reception No. 365291. 19. Affidavit RE: Boundary Line Adjustment, recorded May 14, 1993 in Book 862 at Page 504 as Reception No. 447441. 20. Easement granted to U.S. West Communications, Inc., recorded November 15, 1994 in Book 922 at Page 568 as Reception No. 471003. 21. Affidavit RE: Boundary Line Adjustment, recorded May 2, 2001 in Book 1250 at Page 422 as Reception No. 580265. 22. Right of way for the uninterrupted flow of Main Elk Creek. 23. Stewart Title of Colorado, Inc. - Glenwood Springs Division reserves the right to add and/or delete requirements and/or exceptions upon disclosure of additional information relating to subject property. NOTE: Exceptions 1 and 4 may be deleted from the policies, provided the seller and buyer execute the Company’s affidavits, as required herein, and the Company approves such deletions. If work has been performed on, or in connection with, the subject property (architectural drawings, soils testing, foundation work, installation of materials), and the Company has not reviewed and approved lien waivers and indemnitor financials, Standard Exception 4 (mechanic lien exception) will not be deleted and no mechanic lien coverage will be furnished. Exceptions 2 and 3 may be deleted from the policies, provided the Company receives and approves the survey or survey affidavit if required herein. Exception 5 will not appear on the policies, provided the Company, or its authorized agent, conducts the closing of the proposed transaction and is responsible for the recordation of the documents. DISCLOSURES Order Number: 952654 Note: Pursuant to C.R.S. 10-11-122, notice is hereby given that: A.The subject real property may be located in a special taxing 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 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: Colorado Division of Insurance Regulations 3-5-1, 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 Title 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 Schedule B, Section 2 of the Commitment from the Owner’s Policy to be issued) upon compliance with the following conditions: A.The land described in Schedule A of this commitment must be a single-family residence, which includes a condominium or townhouse unit. B.No labor or materials have been furnished by mechanics or materialmen 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 unfiled mechanic’s and Materialmen’s Liens. D.The Company must receive payment of the appropriate premium. E.If there has been construction, improvements or major repairs undertaken on the property to be purchased, within six months prior to the Date of the Commitment, the requirements to obtain coverage for unrecorded liens will include: disclosure of certain construction information; financial information as to the seller, the builder and/or the contractor; payment of the appropriate premium; fully executed Indemnity agreements satisfactory to the company; and, any additional requirements as may be necessary after an examination of the aforesaid information by the Company. No coverage will be given under any circumstances for labor or material for which the insured has contracted for or agreed to pay. Note: Pursuant to C.R.S. 10-11-123, 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 notice applies to owner’s policy commitments containing a mineral severance instrument exception, or exceptions, in Schedule B, Section 2. NOTHING HEREIN CONTAINED WILL BE DEEMED TO OBLIGATE THE COMPANY TO PROVIDE ANY OF THE COVERAGES REFERRED TO HEREIN UNLESS THE ABOVE CONDITIONS ARE FULLY SATISFIED. STG Privacy Notice 1 (Rev 01/26/09) Stewart Title Companies WHAT DO THE STEWART TITLE COMPANIES DO WITH YOUR PERSONAL INFORMATION? Federal and applicable state law and regulations give consumers the right to limit some but not all sharing. Federal and applicable state law regulations also require us to tell you how we collect, share, and protect your personal information. Please read this notice carefully to understand how we use your personal information. This privacy notice is distributed on behalf of the Stewart Title Guaranty Company and its affiliates (the Stewart Title Companies), pursuant to Title V of the Gramm-Leach-Bliley Act (GLBA). The types of personal information we collect and share depend on the product or service that you have sought through us. This information can include social security numbers and driver's license number. All financial companies, such as the Stewart Title Companies, need to share customers' personal information to run their everyday business—to process transactions and maintain customer accounts. In the section below, we list the reasons that we can share customers' personal information; the reasons that we choose to share; and whether you can limit this sharing. Reasons we can share your personal information Do we share?Can you limit this sharing? For our everyday business purposes— to process your transactions and maintain your account. This may include running the business and managing customer accounts, such as processing transactions, mailing, and auditing services, and responding to court orders and legal investigations. Yes No For our marketing purposes— to offer our products and services to you.Yes No For joint marketing with other financial companies No We don't share For our affiliates' everyday business purposes— information about your transactions and experiences. Affiliates are companies related by common ownership or control. They can be financial and nonfinancial companies. Our affiliates may include companies with a Stewart name; financial companies, such as Stewart Title Company Yes No For our affiliates' everyday business purposes— information about your creditworthiness.No We don't share For our affiliates to market to you Yes No For non-affiliates to market to you. Non-affiliates are companies not related by common ownership or control. They can be financial and nonfinancial companies.No We don't share We may disclose your personal information to our affiliates or to non-affiliates as permitted by law. If you request a transaction with a non-affiliate, such as a third party insurance company, we will disclose your personal information to that non-affiliate. [We do not control their subsequent use of information, and suggest you refer to their privacy notices.] Sharing practices How often do the Stewart Title Companies notify me about their practices?We must notify you about our sharing practices when you request a transaction. How do the Stewart Title Companies protect my personal information?To protect your personal information from unauthorized access and use, we use security measures that comply with federal and state law. These measures include computer, file, and building safeguards. How do the Stewart Title Companies collect my personal information? We collect your personal information, for example, when you request insurance-related services provide such information to us We also collect your personal information from others, such as the real estate agent or lender involved in your transaction, credit reporting agencies, affiliates or other companies. What sharing can I limit?Although federal and state law give you the right to limit sharing (e.g., opt out) in certain instances, we do not share your personal information in those instances. Contact Us If you have any questions about this privacy notice, please contact us at: Stewart Title Guaranty Company, 1980 Post Oak Blvd., Privacy Officer, Houston, Texas 77056 Stewart Title DISCLOSURE The title company, Stewart Title in its capacity as escrow agent, has been authorized to receive funds and disburse them when all funds received are either: (a) available for immediate withdrawal as a matter of right from the financial institution in which the funds are deposited, or (b) are available for immediate withdrawal as a consequence of an agreement of a financial institution in which the funds are to be deposited or a financial institution upon which the funds are to be drawn. The title company is disclosing to you that the financial institution may provide the title company with computer accounting or auditing services, or other bank services, either directly or through a separate entity which may or may not be affiliated with the title company. This separate entity may charge the financial institution reasonable and proper compensation for these services and retain any profits there from. The title company may also receive benefits from the financial institution in the form of advantageous interest rates on loans, sometimes referred to as preferred rate loan programs, relating to loans the title company has with the financial institution. The title company shall not be liable for any interest or other charges on the earnest money and shall be under no duty to invest or reinvest funds held by it at any time. In the event that the parties to this transaction have agreed to have interest on earnest money deposit transferred to a fund established for the purpose of providing affordable housing to Colorado residents, then the earnest money shall remain in an account designated for such purpose, and the interest money shall be delivered to the title company at closing. CONDITIONS 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 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 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 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 www.alta.org. 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 P.O. Box 2029, Houston, Texas 77252.