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HomeMy WebLinkAbout2.0 Title CommitmentCOMMITMENT FOR TITLE INSURANCE Issued by TITLE COMPANY of rhe roc hes as agent for Westcor Land Title Insurance Company SCHEDULE A Reference: Commitment Number: 0601702-C 1. Effective Date: October 08, 2018, 7:00 am 2. Policy (or Policies) to be issued: ALTA Owner's Policy (6-17-06) Policy Amount: Premium: Issue Date: October 23, 2018 Amount to be Determined Amount to be Determined Proposed Insured: Purchaser with contractual rights under a purchaser agreement with the vested owner identified at Item 4 below 3. The estate or interest in the land described or referred to in this Commitment is Fee Simple. 4. The Title is, at the Commitment Date, vested in: Aspen Glen A-8 LLC, a Delinquent Colorado limited liability company 5. The land referred to in this Commitment is described as follows: FOR LEGAL DESCRIPTION SEE SCHEDULE A CONTINUED ON NEXT PAGE Countersigned The Title Company of the Rockies BY: (*MOKII6r A.,�.,�... Kathy Kortum This page is only a part of a 2016 ALTA® Commitment for Title Insurance issued by Westcor Land Title Insurance Company. This Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I -Requirements; and Schedule B, Part Il -Exceptions. Copyright 2006-2016 American Land Title Association. All rights reserved. The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association. Commitment for Title Insurance (8-1-2016) Technical Correction 4-2-2018 Schedule A Page 1 Commitment No: 0601702-C SCHEDULE A (continued) LEGAL DESCRIPTION The Land referred to herein is located in the County of Garfield, State of Colorado, and described as follows: PARCEL A: Lot A-8, ASPEN GLEN FILING NO. 1, according to the Plat thereof filed April 6, 1995, at Reception No. 476330. PARCEL B: Lot A9, Amended Plat of Lot A9, ASPEN GLEN, FILING NO. 1, according to the Plat thereof filed June 17, 1997, at Reception No. 509682. NOTE: Upon compliance with Requirement No. 1, the above legal description will be amended to read as follows: Lots A8 and A9, FIRST AMENDED PLAT OF ASPEN GLEN, FILING NO. 1 AND SECOND AMENDED PLAT LOT A9, FILING NO.1, according to the Plat thereof filed , 2018, at Reception No. For each policy to be issued as identified in Schedule A, Item 2, the Company shall not be liable under this commitment until it receives a specific designation of a Proposed Insured, and has revised this commitment identifying that Proposed Insured by name. As provided in Commitment Condition 4, the Company may amend this commitment to add, among other things, additional exceptions or requirements after the designation of the Proposed Insured. This page is only a part of a 2016 ALTA® Commitment for Title Insurance issued by Westcor Land Title Insurance Company. This Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I -Requirements; and Schedule B, Part ll -Exceptions. Copyright 2006-2016 American Land Title Association. All rights reserved. The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association. Commitment for Title Insurance (8-1-2016) Technical Correction 4-2-2018 Schedule A Page 2 Commitment No: 0601702-C COMMITMENT FOR TITLE INSURANCE Issued by Westcor Land Title Insurance Company SCHEDULE B, PART I Requirements 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 effective date hereof may appear as an exception under Schedule B of the policy to be issued. Unless otherwise noted, all documents must be recorded in the office of the clerk and recorded of the county in which said property is located. All of the following Requirements must be met: 1. The Proposed Insured must notify the Company in writing of the name of any party not referred to in this Commitment who will obtain an interest in the Land or who will make a loan on the Land. The Company may then make additional Requirements or Exceptions. 2. Pay the agreed amount for the estate or interest to be insured. 3. Pay the premiums, fees, and charges for the Policy to the Company. 4. Documents satisfactory to the Company that convey the Title or create the Mortgage to be insured, or both, must be properly authorized, executed, delivered, and recorded in the Public Records. 5. Duly executed and acknowledged Plat of subject property. NOTE: Upon review of the Plat contemplated by this requirement, the above legal description will be amended accordingly. The Company or its duly authorized agent reserves the right to add additional exceptions and/or requirements upon compliance with this requirement. 6. Articles of Organization for Aspen Glen A-8 LLC, a Colorado limited liability company, disclosing the names of all Managers of said limited liability company and otherwise complying with C.R.S. 7-80-101, et seq., as amended, and evidencing the existence of said limited liability company prior to the time it conveys title to subject property, must be filed in the office of the Secretary of State for the State of Colorado, but need not be recorded. 7. Resolution or Statement of Authority by Aspen Glen A-8 LLC, a Colorado limited liability company, authorizing the transaction, executed by the managers or members set forth in the Operating Agreement. This page is only a part of a 2016 ALTA® Commitment for Title Insurance issued by Westcor Land Title Insurance Company. This Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I -Requirements; and Schedule B, Part Il -Exceptions. Copyright 2006-2016 American Land Title Association. All rights reserved. The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association. Commitment for Title Insurance (8-1-2016) Technical Correction 4-2-2018 Schedule B - Part I AM 1 RP Mi u2b TIT L .iloNi.rip« Page 3 Commitment No: 0601702-C NOTE: Review Operating Agreement for authority of party(ies) to act on behalf of said limited liability company and complete the transaction contemplated herein. 8. Certificate of Good Standing issued by the Secretary of State or other appropriate official for the State of Colorado, and evidencing to the satisfaction of the Company or its duly authorized agent that Aspen Glen A-8 LLC was duly formed or registered and is currently in good standing under the laws of the State of Colorado prior to the time it conveys title to subject property. 9. Evidence satisfactory to the Company or its duly authorized agent that all dues and/or assessments levied by the Homeowners Association have been paid through the date of closing. 10. Deed from Aspen Glen A-8 LLC, a Delinquent Colorado limited liability company to Purchaser with contractual rights under a purchaser agreement with the vested owner identified at Item 4 below. NOTE: Duly executed real property transfer declaration, executed by either the Grantor or Grantee, to accompany the Deed mentioned above, pursuant to Article 14 of House Bill No. 1288 - CRA 39-14-102. THE COMPANY RESERVES THE RIGHT TO CONDUCT AN ADDITIONAL SEARCH OF THE RECORDS IN THE OFFICE OF THE CLERK AND RECORDER FOR GARFIELD COUNTY, COLORADO FOR JUDGMENT LIENS, TAX LIENS OR OTHER SIMILAR OR DISSIMILAR INVOLUNTARY MATTERS AFFECTING THE GRANTEE OR GRANTEES, AND TO MAKE SUCH ADDITIONAL REQUIREMENTS AS IT DEEMS NECESSARY, AFTER THE IDENTITY OF THE GRANTEE OR GRANTEES HAS BEEN DISCLOSED TO THE COMPANY. NOTE: THIS COMMITMENT IS ISSUED UPON THE EXPRESS AGREEMENT AND UNDERSTANDING THAT THE APPLICABLE PREMIUMS, CHARGES AND FEES SHALL BE PAID BY THE APPLICANT IF THE APPLICANT AND/OR ITS DESIGNEE OR NOMINEE CLOSES THE TRANSACTION CONTEMPLATED BY OR OTHERWISE RELIES UPON THE COMMITMENT, ALL IN ACCORDANCE WITH THE RULES AND SCHEDULES OF RATES ON FILE WITH THE COLORADO DEPARTMENT OF INSURANCE. This page is only a part of a 2016 ALTA® Commitment for Title Insurance issued by Westcor Land Title Insurance Company. This Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I -Requirements; and Schedule B, Part II -Exceptions. Copyright 2006-2016 American Land Title Association. All rights reserved. The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association. Commitment for Title Insurance (8-1-2016) Technical Correction 4-2-2018 Schedule B - Part I - continued E ELCAN ,A41 Page 4 Commitment No: 0601702-C SCHEDULE B, PART II Exceptions THIS COMMITMENT DOES NOT REPUBLISH ANY COVENANT, CONDITION, RESTRICTION, OR LIMITATION CONTAINED IN ANY DOCUMENT REFERRED TO IN THIS COMMITMENT TO THE EXTENT THAT THE SPECIFIC COVENANT, CONDITION, RESTRICTION, OR LIMITATION VIOLATES STATE OR FEDERAL LAW BASED ON RACE, COLOR, RELIGION, SEX, SEXUAL ORIENTATION, GENDER IDENTITY, HANDICAP, FAMILIAL STATUS, OR NATIONAL ORIGIN. Schedule B of the policy or policies to be issued will contain exceptions to the following matters unless the same are disposed of to the satisfaction of the Company. Any loss or damage, including attorney fees, by reason of the matters shown below: 1. Any facts, right, interests, or claims which are not shown by the Public Records but which could be ascertained by an inspection of said Land or by making inquiry of persons in possession thereof. 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. 4. Any lien, or right to a lien for services, labor or material heretofore or hereafter furnished, imposed by law and not shown by the Public Records. 5. Defects, liens, encumbrances, adverse claims or other matters, if any created, first appearing in the Public Records or attaching subsequent to the effective date hereof, but prior to the date of the proposed insured acquires of record for value the estate or interest or mortgage thereon covered by this Commitment. 6. (a) Taxes or assessments that are not shown as existing liens by the records of any taxing authority that levies taxes or assessments on real property or by the Public Records; (b) proceedings by a public agency that may result in taxes or assessments, or notices of such proceedings, whether or not shown by the records of such agency or by the Public Records. 7. Easements, rights of way and all other matters as shown on the Plat of FIRST AMENDED PLAT OF ASPEN GLEN, FILING NO. 1 AND SECOND AMENDED PLAT LOT A9, FILING NO.1, according to the Plat thereof filed , 2018, at Reception No. , filed . 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 This page is only a part of a 2016 ALTA® Commitment for Title Insurance issued by Westcor Land Title Insurance Company. This Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I -Requirements; and Schedule B, Part ll -Exceptions. Copyright 2006-2016 American Land Title Association. All rights reserved. The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association. Commitment for Title Insurance (8-1-2016) Technical Correction 4-2-2018 Schedule B - Part 11 AM 1 RP Mi u2b TIT L .iloNi.rip« Page 5 Commitment No: 0601702-C Patents recorded March 12, 1892 in Book 12 at Page 119, April 11, 1892, in Book 12 at Page 133 and recorded April 16, 1892, in Book 12 at Page 135. 9. An undivided one-fourth (1/4) interest in all oil, gas and other mineral rights, as reserved by Leonis P. Chuc in the Deed to Mary Lu F. Seeburg recorded December 26, 1958, in Book 314 at Page 160, and any and all assignments thereof or interests therein, together with the right to enter upon said lands and explore, drill, mine and produce, upon payment to the owner of the surface, for all damages occasioned in connection therewith, any of said described substances. 10. An undivided one-fourth (1/4) interest in all oil, gas and other mineral rights, as reserved by Caesar J. Chuc in the Deed to Mary Lu F. Seeburg recorded September 26, 1961, in Book 336 at Page 570, and any and all assignments thereof or interests therein, together with the right to enter upon said lands and explore, drill, mine and produce, upon payment to the owner of the surface, for all damages occasioned in connection therewith, any of said described substances. 11. Restrictions, which do not contain a forfeiture or reverter clause, as contained in Master Declaration of Covenants, Conditions and Restrictions For Aspen Glen recorded April 6, 1995, in Book 936 in Book 350, and Supplemental Declarations thereto recorded July 15, 1997, in Book 1026 at Page 161, November 26, 1997, in Book 1043 at Page 850, February 10, 1998, in Book 1053 at Page 8, February 10, 1998 in Book 1053 at Page 30, May 1, 1998, in Book 1065 at Page 800, May 22, 1998 in Book 1069 at Page 58, August 24, 1998, in Book 1084 at Page 943, October 26, 1998, in Book 1094 at Page 517, August 17, 1999 in Book 1145 at Page 680, November 19, 1999, in Book 1161 at Page 293, September 23, 1999 in Book 1151 at Page 877, December 14, 1999, in Book 1164 at Page 755, July 17, 2000 in Book 1197 at Page 740 and May 8, 2003 in Book 1467 at Page 910. 12. Terms, agreements, provisions, conditions and obligations contained in Subdivision Improvements Agreement recorded April 6, 1995, in Book 936 at Page 444. 13. Easements and rights of way as contained in instrument recorded April 6, 1995 in Book 936 at Page 458. 14. Terms, conditions, provisions, obligations, restrictions, easements and rights of way as contained in Declaration of Golf Facilities Development, Construction and Operational easement recorded April 6, 1995, in Book 936 at Page 350. 15. Easement and right of way for access purposes, as granted by Southern Pacific Transportation Company to Aspen Glen Golf Company by instrument recorded February 10, 1995, in Book 931 at Page 354. 16. Easement as granted by Southern Pacific Transportation Company to Aspen Glen Golf Company by instrument recorded February 10, 1995 in Book 931 at Page 374. This page is only a part of a 2016 ALTA® Commitment for Title Insurance issued by Westcor Land Title Insurance Company. This Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I -Requirements; and Schedule B, Part II -Exceptions. Copyright 2006-2016 American Land Title Association. All rights reserved. The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association. Commitment for Title Insurance (8-1-2016) Technical Correction 4-2-2018 Schedule B - Part II - continued AN! RPLAN Lk5111. TI r LI MEWS l.ncS. Page 6 Commitment No: 0601702-C 17. Utility Easement as granted by Southern Pacific Transportation Company to Aspen Glen Golf Company by instrument recorded February 10, 1995, in Book 931 at Page 393. 18. Easement and right of way for temporary construction purposes, as granted by Southern Pacific Transportation Company to Aspen Glen Golf Company by instrument recorded February 10, 1995, in Book 931 at Page 412. 19. Terms and conditions of Resolutions by the Board of County Commissioners of Garfield County, Colorado, concerning the Aspen Glen Planned Unit Development and other matters, as set forth as follows: A. Resolution No. 92-056 recorded June 29, 1992, in Book 835 at Page 305 and amended by Resolution No. 97-38 recorded April 16, 1997 in Book 1015 at Page 617. B. Resolution No. 93-121 recorded December 28, 1993, in Book 887 at Page 824. C. Resolution No. 94-008 recorded February 2, 1994, in Book 891 at Page 620. D. Resolution No. 94-089 recorded August 9, 1994, in Book 911 at Page 791. E. Resolution No. 94-139 recorded December 13, 1994, in Book 925 at Page 345. F. Resolution No. 95-004 recorded January 17, 1995, in Book 929 at Page 64. G. Resolution No. 96-06 recorded February 9, 1996, in Book 966 at Page 682. H. Resolution No. 96-07 recorded February 9, 1996, in Book 966 at Page 686. 20. Terms, conditions, provisions and obligations as contained in Agreements recorded April 12, 1992 in Book 827 at Page 636 and recorded June 29, 1993 in Book 835 at Page 364. 21. Terms, conditions,provisions, obligations, easements and rights of way as contained in Agreements by and between Union Oil Company of California, Aspen Glen Golf Partners, Ltd., and the Aspen Glen Sanitation District recorded August 19, 1994 in Book 912 at Page 970 and recorded August 19, 1994 in Book 912 at Page 973. 22. Easements, rights of way and all other matters as shown on the Plat of Aspen Glen, Filing No. 1 filed April 6, 1995 at Reception No. 476330. 23. Amendment to Agreement by and between Aspen Glen Golf Company and Glenwood Irrigation Company recorded November 7, 2002 in Book 1404 at Page 604. 24. Easements, rights of way and all other matters as shown on the Plat of Amended Plat of Lot A9, Aspen Glen, Filing No. 1, filed June 17, 1997 at Reception No. 509682. 25. Easements, rights of way and all other matters as shown on the Plat of FIRST AMENDED PLAT OF ASPEN GLEN, FILING NO. 1 AND SECOND AMENDED PLAT LOT A9, FILING NO.1, according to the Plat thereof filed , 2018, at Reception No. This page is only a part of a 2016 ALTA® Commitment for Title Insurance issued by Westcor Land Title Insurance Company. This Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I -Requirements; and Schedule B, Part II -Exceptions. Copyright 2006-2016 American Land Title Association. All rights reserved. The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association. Commitment for Title Insurance (8-1-2016) Technical Correction 4-2-2018 Schedule B - Part II - continued AN! RPLAN Lk5111. TI r LI MEWS l.ncS. Page 7 Commitment No: 0601702-C This page is only a part of a 2016 ALTA® Commitment for Title Insurance issued by Westcor Land Title Insurance Company. This Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I -Requirements; and Schedule B, Part ll -Exceptions. Copyright 2006-2016 American Land Title Association. All rights reserved. The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association. Commitment for Title Insurance (8-1-2016) Technical Correction 4-2-2018 Schedule B - Part II - continued Page 8 Commitment No: 0601702-C DISCLOSURE STATEMENTS Note 1: Colorado Division of Insurance Regulations 3-5-1, Paragraph C of Article VII, requires that "Every Title entity shall be responsible for all matters which appear of record prior to the time of recording whenever the Title entity conducts the closing and is responsible for recording or filing of legal documents resulting from the transaction which was closed." (Gap Protection) Note 2: Exception No. 4 of Schedule B, Section 2 of this Commitment may be deleted from the Owner's Policy to be issued hereunder upon compliance with the following conditions: 1. The Land described in Schedule A of this commitment must be a single-family residence, which includes a condominium or townhouse unit. 2. No labor or materials may have been furnished by mechanics or materialmen for purpose of construction on the Land described in Schedule A of this Commitment within the past 13 months. 3. The Company must receive an appropriate affidavit indemnifying the Company against unfilled mechanic's and materialmen's liens. 4. Any deviation from conditions A though 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. 5. Payment of the premium for said coverage. Note 3: The following disclosures are hereby made pursuant to §10-11-122, C.R.S.: (i) The subject real property may be located in a special taxing district; (ii)A certificate of taxes due listing each taxing jurisdiction shall be obtained from the County Treasurer or the County Treasurer's authorized agent; and (iii) Information regarding special districts and the boundaries of such districts may be obtained from the County Commissioners, the County Clerk and Recorder, or the County Assessor. Note 4: If the sales price of the subject property exceeds $100,000.00, the seller shall be required to comply with the disclosure or withholding provisions of C.R.S. §39-22-604.5 (Non-resident withholding). Note 5: Pursuant to C.R.S. § 10-11-123 Notice is hereby given: (a) If there is recorded evidence that a mineral estate has been severed, leased or otherwise conveyed from the surface estate then there is a substantial likelihood that a third party holds some or all interest in oil, gas, other minerals, or geothermal energy in the property, and (b) That such mineral estate may include the right to enter and use the property without the surface owner's permission. Note 6: Effective September 1, 1997, C.R.S. §30-10-406 requires that all documents received for recording or fling in the clerk and recorder's office shall contain a top margin of at least one inch and a left, right and bottom margin of at least one-half inch the clerk and recorder may refuse to record or file any document that does not conform. Note 7: Our Privacy Policy: We will not reveal nonpublic personal customer information to any external non-affiliated organization unless we have been authorized by the customer, or are required by law. Note 8: Records: Regulation 3-5-1 Section 7 (N) provides that each title entity shall maintain adequate documentation and records sufficient to show compliance with this regulation and Title 10 of the Colorado Revised Statutes for a period of not less than seven (7) years, except as otherwise permitted by law. Note 9: Pursuant Regulation 3-5-1 Section 9 (F) notice is hereby given that "A title entity shall not earn interest on fiduciary funds unless disclosure is made to all necessary parties to a transaction that interest is or has been earned. Said disclosure must offer the opportunity to receive payment of any interest earned on such funds beyond any administrative fees as may be on file with the division. Said disclosure must be clear and conspicuous, and may be made at any time up to and including closing." Be advised that the closing agent will or could charge an Administrative Fee for processing such an additional services request and any resulting payee will also be subjected to a W-9 or other required tax documentation for Page 9 such purpose(s). Be further advised that, for many transactions, the imposed Administrative Fee associated with such an additional service may exceed any such interest earned. Therefore, you may have the right to some of the interest earned over and above the Administrative Fee, if applicable (e.g., any money over any administrative fees involved in figuring the amounts earned). Note 10: Pursuant to Regulation 3-5-1 Section 9 (G) notice is hereby given that "Until a title entity receives written instructions pertaining to the holding of fiduciary funds, in a form agreeable to the title entity, it shall comply with the following: 1. The title entity shall deposit funds into an escrow, trust, or other fiduciary account and hold them in a fiduciary capacity. 2. The title entity shall use any funds designated as "earnest money" for the consummation of the transaction as evidenced by the contract to buy and sell real estate applicable to said transaction, except as otherwise provided in this section. If the transaction does not close, the title entity shall: (a) Release the earnest money funds as directed by written instructions signed by both the buyer and seller; or (b) If acceptable written instructions are not received, uncontested funds shall be held by the title entity for 180 days from the scheduled date of closing, after which the title entity shall return said funds to the payor. 3. In the event of any controversy regarding the funds held by the title entity (notwithstanding any termination of the contract), the title entity shall not be required to take any action unless and until such controversy is resolved. At its option and discretion, the title entity may: (a) Await any proceeding; or (b) Interplead all parties and deposit such funds into a court of competent jurisdiction, and recover court costs and reasonable attorney and legal fees; or (c) Deliver written notice to the buyer and seller that unless the title entity receives a copy of a summons and complaint or claim (between buyer and seller), containing the case number of the lawsuit or lawsuits, within 120 days of the title entity's written notice delivered to the parties, title entity shall return the funds to the depositing party." Page 10 Commitment No: 0601702-C Title Company of the Rockies Disclosures 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 will refuse to record or file any document that does not conform to the requirements of this section. Pursuant to C.R.S. 30-10- 406(3)(a). The company will not issue its policy or policies of title insurance contemplated by this commitment until it has been provided a Certificate of Taxes due or other equivalent documentation 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. Pursuant to C.R.S. 10-11-122. 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 withdrawals as a matter of right. Pursuant to C.R.S. 38-35-125(2). The Company hereby notifies the proposed buyer in the current transaction that there may be recorded evidence that the mineral estate, or portion thereof, has been severed, leased, or otherwise conveyed from the surface estate. If so, there is a substantial likelihood that a third party holds some or all interest in the oil, gas, other minerals, or geothermal energy in the subject property. Such mineral estate may include the right to enter and use the property without the surface owner's permission. Pursuant to C.R.S. 10-11-123. If this transaction includes a sale of property and the sales price exceeds $100,000.00, the seller must comply with the disclosure/withholding requirements of said section. (Nonresident withholding) Pursuant to C.R.S. 39-22-604.5. Notice is hereby given that: The subject property may be located in a special taxing district. A Certificate of Taxes due listing each taxing jurisdiction shall be obtained from the County Treasurer or the County Treasurer's authorized agent. 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. Pursuant to C.R.S. 10-11-122. Notice is hereby given that: Pursuant to Colorado Division of Insurance Regulation 8-1-2; "Gap Protection" -When this Company conducts the closing and is responsible for recording or filing the legal documents resulting from the transaction, the Company shall be responsible for all matters which appear on the record prior to such time or recording or filing; and "Mechanic's Lien Protection" - If you are the buyer of a single family residence, you may request mechanic's lien coverage to be issued on your policy of Insurance. If the property being purchased has not been the subject of construction, improvements or repairs in the last six months prior to the date of this commitment, the requirements will be payment of the appropriate premium and the completion of an Affidavit and Indemnity by the seller. If the property being purchased was constructed, improved or repaired within six months prior to the date of this commitment the requirements may involve disclosure of certain financial information, payment of premiums, and indemnity, among others. The general requirements stated above are subject to revision and approval by the Company. Pursuant to C.R.S. 10-11-122. Notice is hereby given that an ALTA Closing Protection Letter is available, upon request, to certain parties to the transaction as noted in the title commitment. Pursuant to Colorado Division of Insurance Regulation 8-1. 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. Page 11