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HomeMy WebLinkAbout1.01 Title CommittmentFile No. 1707108 COMMITMENT FOR TITLE INSURANCE SCHEDULE A I. Effective Date: July 25, 2017 at 7:59 AM 2. Policy or Policies to be issued: (a) ALTA OWNER POLICY (ALTA 6-17-06) Proposed Insured: (b) ALTA LOAN POLICY (ALTA 6-17-06) Proposed Insured: Fairway Independent Mortgage Corporation, ISAOA/ATIMA $790,000.00 3. The Estate or interest in the land described or referred to in the Commitment and covered herein is Fee Simple and is at the effective date hereof vested in: Daniel E. Biggs and Connie M. Biggs 4. The land referred to in this Commitment is situated in the County of Garfield, State of Colorado and described as follows: See Attached Exhibit "A" Mortgagee's Policy Tax Certificate Form 100 Form 8.1 Form 100.30 TITLE CHARGES $1,198.00 Reissue 15.00 50.00 50.00 Delete Standard Exceptions (Lender's) Closing Protection Letter 185.00 65.00 25.00 COUNTERSIGNED:~~~~~~~--'"P~a=tr~ic=k~P~. B=u=rw"'-"e~ll~~~~~~~~~~~~~~~ Authorized Officer or Agent American Land Title Association Schedule A (Rev'd 6-06) Valid Only if Schedule B and Cover Are Attached Issuing Agent: Common\vealth Title Cotnpany of Garfield County, Inc. 127 East 5th Street Rifle, CO 81650 File No. 1707108 EXHIBIT "A" A PARCEL OF LAND PREVIOUSLY DESCRIBED IN RECEPTION NO. 780307 SITUATE IN THE SWl/4SEl/4 OF SECTION 13, TOWNSHIP 6, SOUTH, RANGE 92 WEST OF THE SIXTH PRINCIPAL MERIDIAN, COUNTY OF GARFIELD, STATE OF COLORADO. ALL BEARINGS RELATIVE TO A BEARING OF N89°16'08"E BETWEEN THE CENTER SOUTH 1/16 CORNER OF SAID SECTION 13, A 2-1/2" ALUMINUM CAP LS NO. 31143 IN PLACE, AND THE SOUTHEAST 1/16 CORNER OF SAID SECTION 13, A 3-1/4" ALUMINUM CAP LS NO. 36572 IN PLACE. SAID PARCEL OF LAND NOW BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: COMMENCING AT THE SOUTHEAST CORNER OF SAID SECTION 13, A 3" BLM ALUMINUM CAP IN PLACE; THENCE S89°07'58"W 1320.85 FEET TO THE EAST 1/16 CORNER OF SAID SECTION 13 AND SECTION 24, A 3-1/4" ALUMINUM CAP LS NO. 36572 SET IN PLACE, THE TRUE POINT OF BEGINNING; THENCE S89°07'58"W 1320.85 FEET TO THE SOUTH 1/4 CORNER OF SAID SECTION 13, A 3-1/4" GARFIELD COUNTY SURVEYOR BRASS CAP IN PLACE; THENCE N00°37'50"W 1315.58 FEET TO THE CENTER SOUTH 1/16 CORNER OF SAID SECTION 13, A 2-1/2" ALUMINUM CAP LS NO. 31143 IN PLACE THENCE ALONG THE NORTHERLY LINE OF SAID SWl/4SEl/4 N89°16'08"E 1133.44 FEET TO A POINT ON THE WESTERLY RIGHT-OF-WAY LINE OF COUNTY ROAD NO. 311; THENCE ALONG SAID WESTERLY RIGHT-OF-WAY LINE THE FOLLOWING EIGHT (8) COURSES: I. SOUTH 00°47'23" EAST 159.55 FEET 2. ALONG THE ARC OF A CURVE TO THE RIGHT HAVING A RADIUS OF 1247.08 FEET, AN ARC LENGTH OF 97.60 FEET, CHORD BEARS SOUTH 01°27'09" WEST 97.58 FEET 3. SOUTH 03°41'40" WEST 134.51 FEET 4. ALONG THE ARC OF A CURVE TO THE LEFT HA YING A RADIUS OF 432.03 FEET, AN ARC LENGTH OF 210.65 FEET, CHORD BEARS SOUTH 10°16'26" EAST208.57 FEET 5. SOUTH24°14'31"EAST271.62FEET 6. ALONG THE ARC OF A CURVE TO THE RIGHT HAVING A RADIUS OF 343.75 FEET, AN ARC LENGTH OF 136.15 FEET, CHORD BEARS SOUTH 12°53'43" EAST 135.26 FEET 7. SOUTH 01°32'55" EAST 107.57 FEET 8. ALONG THE ARC OF A CURVE TO THE LEFT HAVING A RADIUS OF 864.80 FEET, AN ARC LENGTH OF 200.69 FEET, CHORD BEARS SOUTH 08°11 '49" EAST 200.24 FEET TO A POINT ON THE EASTERLY LINE OF SAID SWI/4SEI/4; THENCE ALONG SAID EASTERLY LINE SOUTH 00°48'58" EAST 28.19 FEET TO THE POINT OF BEGINNING File No. 1707108 SCHEDULE B -SECTION 1 The Following are the requirements to be complied with prior to the issuance of said policy or policies. Any other instrument recorded subsequent to the date hereof may appear as an exception under Schedule B of the policy to be issued. Unless otherwise noted, all documents must be recorded to the office of the Clerk and Recorder of the County in which said property is located. 1. Deed of Trust from Daniel E. Biggs and Connie M. Biggs to the Public Trustee of Garfield County for the use of Fairway Independent Mortgage Corporation. 2. Release ofrecord by the Public Trustee of the Deed of Trust from Daniel E. Biggs and Connie M. Biggs for the use ofEverBank showing an original amount of $417,000.00, dated April 8, 2016 and recorded April 11, 2016 as Reception No.875712 3. Execution of a Final Affidavit and Agreement indemnifying the Cotnpany against untiled 1nechanic 1s and 1naterialmen's liens. NM6 American Land Title Association Commitment Schedule B -Section I -Form 1004-5 DISCLOSURES Colorado Division of Insurance Regulation 8-1-2, Section 5, Paragraph F provides: "Whenever a title entity provides the closing and settlement service that is in conjunction with the issuance of an owner's policy of title insurance, it shall update the title commitment from the date of issuance to be as reasonably close to the time of closing as permitted by the real estate records. Such update shall include all impairments of record at the time of closing or as close thereto as permitted by the real estate records. The title insurance company shall be responsible to the proposed insured(s) subject to the terms and conditions of the title commitment, other than the effective date of the title commitment, for all undisclosed matters that appear of record prior to the time of closing." Provided Commonwealth Title Insurance Company of Garfield County, Inc. 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 Lenders Policy when issued. This Notice is required by Colorado Division of Insurance Regulation 8-1-2, Section 5, Paragraph G. Pursuant to Colorado Division of Insurance Regulation 8-1-2, notice is hereby given that affirmative mechanic's lien protection for the prospective insured owner may be available 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 may 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 appropriate affidavits indemnifying the Company against all unfiled mechanic's and materialmen's liens. D. Any deviation from conditions A through C above is subject to such additional requirements or information as the Company may deem necessary; or, at its option, the Company may refuse to delete the exception. No coverage will be given under any circumstances for labor or material for which the insured has contracted for or agreed to pay. Colorado Division of Insurance Regulation 8-1-2, Section 5, Paragraph M. Pursuant to Colorado Division of Insurance Regulation 8-1-3, notice is hereby given of the availability of a Closing Protection Letter which may, upon request, be provided to certain parties to the transaction. 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 may be obtained from the County Treasurer's authorized agent; C) The 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; and D) The company will not issue its policy of policies of title insurance contemplated by the commitment until it has been provided a Certificate of Taxes due from the County Treasurer or the County Treasurer's authorized agent; or until the Proposed Insured has notified or instructed the company in writing to the contrary C.R.S. §30-10-406 requires that all documents received for recording or filing in the clerk and recorder's office shall contain a top margin of at least one inch and a left, right, and bottom margin of at least one half of an inch. The clerk and recorder may refuse to record or file any document that does not conform. Pursuant to C.R.S. §10-11-123, notice is hereby given: This notice applies to owner's policy commitments containing a mineral severance instrument exception, or exceptions, in Schedule B, Section 2. A) That there is recorded evidence that a mineral estate has been severed, leased, or otherwise conveyed from the surface estate and that there is a substantial likelihood that a third party holds some or all interest in oil, gas, other minerals, or geothermal energy in the property; and B) That such mineral estate may include the right to enter and use the property without the surface owner's permission. If the transaction includes a sale of the property and the price exceeds $100,000.00, the seller must comply with the disclosure/withholding provisions of C.R.S. §39-22-604.5 (Nonresident withholding). Pursuant to C.R.S. §38-35-125(2), no person or entity that provides closing and settlement services for a real estate transaction shall disburse funds as a part of such services until those funds have been received and are available for immediate withdrawal as a matter of right. Colorado Division of Insurance Regulation 8-1-2, Section 5, Paragraph J. "Good Funds Law" C.R.S. §39-14-102 requires that a real property transfer declaration accompany any conveyance document presented for recordation in the State of Colorado. Said declaration shall be completed and signed by either the grantor or grantee and Section 38-35-109 (2) of the Colorado Revised Statutes, 1973, requires that a notation of the purchasers legal address, (not necessarily the same as the property address) be included on the face of the deed to be recorded. File No. 1707108 SCHEDULE B -SECTION 2 Schedule B of the Policy or Policies to be issued \Vill contain exceptions to the follo\ving matters unless the same arc disposed of to the satisfaction of the company: I. Rights or claims of parties in possession not shown by the Public records. 2. Easements, or clailns of easements, not sho\vn by the public records. 3. Discrepancies, conflicts in boundary lines, shortage in area, encroachments, and any facts, \vhich a correct survey and inspection of the pre1nises \vould disclose, and \vhich are not sho\vn by the public records. 4. Any lien, or right to a lien, for services, labor or material heretofore or hereafter furnished, i1nposed by law and not sho\vn 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. Any and all unpaid ta'(es, assessments and unredeen1ed tax sales. 7. Any lien or charge on account of the inclusion of subject property in an improvement district. 8. Any and all \Yater rights, claims, or title to \Yater, \Vhether or not the matters excepted are sho\vn by the public record. 9. Right of the proprietor ofa vein or lode to extract and remove his ore therefrom, should the saine be found to penetrate or intersect the premises hereby granted and a right of\vay for ditches or canals as constructed by the authority of the United States, as reserved in United States Patent recorded June 15, 1906 in Book 56 at Page 549. 10. Right of \Vay (\vhether in fee or by easement) for County Road No. 311. 11. Reservation of an undivided one~half interest in all oil, gas and other minerals and 1nineral rights as described in instrument recorded April 17, 1964 in Book 357 at Page 324 and any and all assignments thereof or interests therein. 12. Terms and conditions of Oil and Gas Lease by and bet\veen Valley Farms, Inc., as Lessor and Antero Resources II Corporation, as Lessee, recorded November I, 2004 in Book 1635 at Page 630 and any and all interests therein or assignments thereof. Amended by instrument recorded in Book 1792 at Page 320. Amended by instrument recorded in Reception No. 753643. Amended by instrument recorded January 22, 2009 as Reception No. 762002. Amended by instrument recorded January 22, 2009 as Reception No. 762003. Amended by instrument recorded November 4, 2011 as Reception No. 810334. Amended by instrument recorded November 22, 2011 as Reception No. 811153. Amended by instrument recorded May 17, 2012 as Reception No. 818840. Amended by instrument recorded January 20, 20 I 4 as Reception No. 845444. Amended by instrument recorded January 20, 2014 as Reception No. 845445. Amended by instrun1ent recorded September I 0, 2014 as Reception No. 853455. 13. Terms, conditions and all matters, including easen1ents, as described and set forth in Surface Use and Developn1ent Agreement recorded August 17, 2007 as Reception No. 731092. Firsl Amendment recorded August 17, 2007 as Reception No. 731093. 14. Conveyance of the the oil, gas and other 1nineral estate to the Dixon Water Foundation and the Discove1y Foundation and the Exclusive rights to the oil, gas and other minerals to the Dixon Water Foundation as described in instrument recorded January 28, 2008 as Reception No. 741915 and any and all assignments thereof or interests therein. 15. Reservation of and undivided 2.1305o/o interest in the oil, gas and other niineral estate as more fully described in instrument recorded Januaiy 28, 2008 as Reception No. 741915 and any and all assign1nents thereof or interests therein. (Continued) File No. 1707108 SCHEDULE B -SECTION 2 (Continued) 16. Easements and rights of\vay for existing ditches, laterals and canals. 17. Right of\vay easement granted to Holy Cross Electric Association Inc. in instrument recorded Februa1y 19, 1988 in Book 729 at Page 138. 18. Terms and conditions of Operational Agreement regarding Water Rights, Easements Agreement and Grant recorded July 29, 1999 in Book 1142 at Page320. 19. Terms and conditions of Operational Agreement regarding Water Rights, Easements Agree1nent and Grant recorded March 20, 2000 in Book 1177 at Page 543. 20. Terms and conditions of Stipulation and Agreement recorded September 13, 1999 in Book 1150 at Page 244. 21. Terms and conditions of Settlement Agreement recorded November 9, 1999 in Book 1159 at Page 907. 22. Conveyance of oil, gas, hydrocarbons and other minerals, \Vith a reservation of 1/40th interest and a l/400th interest in instrument recorded July 20, 2005 in Book 1708 at Page 432 and any and all assignments thereof or interests therein. 23. Conveyance of all oil, gas, hydrocarbons and other minerals in instrument recorded July 20, 2005 in Book 1708 at Page 433 and any and all assignments thereof or interests therein. 24. Reservation of oil, gas, hydrocarbons and other minerals specifically including l/40th interest and I/400th interest in instrument recorded April 17, 2008 as Reception No. 746727 and any and all assignments thereof or interests therein. 25. Ordinance No. 20 Series of2008 recorded November 17, 2008 as Reception No. 758735 and re-recorded March 12, 2009 as Reception No. 764572. 26. Conveyance of all oil, gas and other nlinerals in instrument recorded May 7, 2009 as Reception No. 767670. and any and all assignments thereof or interests therein. 27. Conveyance of all oil, gas and other minerals in instrument recorded May 7, 2009 as Reception No. 767671. and any and all assignments thereof or interests therein. 28. Road Easement granted to Antero Resources Piceance Corporation recorded August 13, 20 l 0 as Reception No. 790004. 29. Terms and conditions of Memorandum of Water Injection Well Lease and Surface Use Agreement recorded January 15, 2015 as Reception No. 858312. 30. Possessory rights outside offence, encroachment offence onto adjoining property, apparent easement for overhead utilities, di1t road and all n1atters shown on Improvement Survey Plat prepared by BookcliffSurvey Services, Inc. dated June 9, 2015, Project No. 09055-03. 31. Any question, dispute or adverse claims as to any loss or gain as a result of any change in the river bed location by other than natural causes, or alteration through accretion, reliction, erosion or avulsion of the center thread, bank, channel or flo\V of\vaters in Divide Creek lying \Vi thin subject land; and any questions as to the location of such center thread, bed, bank or channel as a legal description monument or marker for purposes of describing or locating subject lands. 32. Reservation of all oil, gas and other minerals in and under that may be produced from the lands as described in Warranty Deed recorded August 20, 2015 as Reception No. 867035, and any and all interests therein or assignments thereof. 33. Possessory rights outside of fence, encroachment of fence onto adjoining prope1ty, apparent easement for overhead utilities, 2 tract dirt road and all matters sho\vn on Improvement Location Certificate prepared by Bookcliff Survey Services, Inc. dated Februa1y 24, 2016, Project No. 16014.01. NOTE: EXCEPTION(S) l,2,3 and 4 WILL NOT APPEAR IN THE MORTGAGE POLICY TO BE ISSUED HEREUNDER. The O\vner's Policy of Title Insurance committed for in this Commitment, if any, shall contain, in addition to the Items set forth in Schedule B - Section 2, the following items: ( l) The Deed of Trust, if any, required under Schedule B -Section 1. (2) Un patented mining clailns; reservations or exceptions in patents or in Acts authorizing the issuance thereof. (3) any and all unpaid taxes, assessments and unredeemed tax sales. 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 \Vil! provide a copy of this clause and the accompanying arbitration rules prior to the closing of the transaction. American Land Title Association Commitment Schedule B -Section 2 Form I 004-12 COMMONWEALTH TITLE COMPANY PRIVACY POLICY We Are Committed to Safeguarding Customer Information In order to better serve your needs now and in the future, we may ask you to provide us with certain infonnation. We understand that you may be concerned about what we will do with such infmmation -particularly any personal or financial information. We agree that you have a right to know how we will utilize the personal information you provide to us. Therefore, we have adopted this Privacy Policy to govern the use and handling of your personal information. Applicability This Privacy Policy governs our use of the infonnation which you provide to us. It does not govern the manner in which we may use information we have obtained fro1n any other source, such as inforn1ation obtained from a public record or from another person or entity. Types oflnformation Depending upon which of our services you are utilizing, the types of nonpublic personal information that we may collect include: Infonnation we receive fi:om you on applications, fonns and in other communications to us, whether in writing, in person, by telephone or any other means. Infonnation about your transactions with us, our affiliated con1panies, or others; and Information we receive fi:om a consu1ner reporting agency. Use oflnformation We request information from you for our own legitimate business purposes and not for the benefit of any nonaffiliated party. Therefore, we will not release your info1111ation to nonaffiliated parties except: (l) as necessary for us to provide the product or service you have requested of us; or (2) as permitted by law. We may, however, store such infonnation indefinitely, including the period after which any customer relationship has ceased. Such infmmation may be used for any internal purpose, such as quality control efforts or customer analysis. We may also provide all of the types of nonpublic personal infonnation listed above to one or more of our affiliated companies. Such affiliated companies include financial service providers, such as title insurers, property and casualty insurers, and trust and investment advisory companies, or companies involved in real estate services, such as appraisal companies, home warranty co1npanies, and escrow companies. Furthennore, we may also provide all the information we collect, as described above to companies that perform marketing services on our behalf, on behalf of our affiliated companies, or to other financial institutions with whom we or our affiliated companies have joint marketing agreements. Former Customers Even if you are no longer our customer, our Privacy Policy will continue to apply to you. Confidentiality and Security We will use our best effmts to ensure that no unauthorized pmties have access to any of your information. We restrict access to nonpublic personal infonnation about you to those individuals and entities who need to know that information to provide products or services to you. We will use our best efforts to train and oversee our employees and agents to ensure that your infonnation will be handled responsibly and in accordance with this Privacy Policy. We cunently maintain physical, electronic and procedural safeguards that comply with federal regulations to guard your nonpublic personal infonnation.