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HomeMy WebLinkAboutBRICK STONE APARTMENTS ON HARMONY - FDP - FDP170006 - SUBMITTAL DOCUMENTS - ROUND 1 - LEGAL DOCUMENTSProperty Address Customer Distribution FORT COLLINS CO 80525 For Closing Assistance Donna Manci 772 WHALERS WAY #100 FORT COLLINS, CO 80525 970-267-5021(phone) 800-303-5161(fax) dmanci@Itgc.com Company License: C044565 Contact License: CO270861 Closer's Assistant Gaynelle Eggers 772 WHALERS WAY #100 FORT COLLINS, CO 80525 970-267.5024 (phone) 800-315.9208 (tax) geggers@ltgc.com Our Order Number: FCC25134676-3 Date: 01-06-2017 For Title Assistance FT. COLLINS CUSTOMER CARE 772 WHALERS WAY #100 FORT COLLINS, CO 80525 970-282-3649 (phone) 970-282-3652 (fax) customercare@Itgc.com PLEASE CONTACT YOUR CLOSER OR CLOSER'S ASSISTANT FOR WIRE TRANSFER INSTRUCTIONS BuyerlBorrower Agent for Seller SEEC ENTERPRISES, LLC, A UTAH LLC CUSHMAN & WAKEFIELD ben@seedic.com,olivia@seecllc.com Attention: SANDY BROWN Delivered via: Electronic Mail 772 WHALERS WAY #200 FORT COLLINS, CO 60525 970-776-3900 (work) sandy.brown@cushwake.com Delivered via: Undetermined SellerlOwner Agent for Seller JAC, LLC CUSHMAN & WAKEFIELD Delivered via: Delivered by Realtor Attention: STUART THOMAS 772 WHALERS WAY #200 FORT COLLINS, CO 80525 970-776.3900 (work) stuart.thomas@dtz.com Delivered via: Electronic Mail Agent for Seller Attorney for Buyer CUSHMAN & WAKEFIELD LATHROP & GAGE LLP Attention: RUSSELL BAKER Attention: BRIAN JUMPS 1 STEPHANIE REED 772 WHALERS WAY #200 950 SEVENTEENTH STREET, SUITE 2400 FORT COLLINS, CO 80525 DENVER, CO 80202 303-591-3598 (phone) 720-931-3102 (work) 970.776-3900 (work) 720-931-3201(work tax) russell.baker@dtz.com bjumps@lathropgage.com,sreed@lathropgage.com Delivered via: Electronic Mail Delivered via: Electronic Mail Agent for Buyer CUSHMAN & WAKEFIELD Attention: TRAVIS ACKERMAN 772 WHALERS WAY 4200 FORT COLLINS, CO 60525 970-776-3900 (work) 970-267-7730 (work tax) travis.ackerman@dtz.com Delivered via: Electronic Mail Order Number: FCC25134676-3 Date: 01-06-2017 Property Address: FORT COLLINS CO 80525 Buyer/Borrower: SEEC ENTERPRISES, LLC, A UTAH LLC Seller: JAC, LLC, A COLORADO LIMITED LIABILITY COMPANY i Visit Land Title's website at www.ltgc.com for directions to any of our offices. .. _.. Estimate of Title Insurance Fees ALTA Owners Policy 06-17-06 $4,029.00 Deletion of Standard Exception(s) $100.00 s ALTA Loan Policy 06-17-06 $150.00 Tax Certificate $20,00 If Land Title Guarantee Company will be closing this transaction, the fees listed above wi11 be collected at closing. Total $4,299.00 THANK YOU FOR YOUR ORDER! ALTA COMMITMENT Old Republic National Title Insurance Company Schedule A Order Number: FCC25134676-3 Customer Ref -Loan No.: Property Address: FORT COLLINS CO 80525 1. Effective Date: 12-23-2016 At 05:00:00 2. Policy to be Issued and Proposed Insured: "ALTA" Owner's Policy 06-17-06 $2,000,000.00 Proposed Insured: SEEC ENTERPRISES, LLC, A UTAH LLC "ALTA" Loan Policy 06-17-06 $1,500,000.00 Proposed Insured: A LENDER TO BE DETERMINED 3. The estate or interest in the land described or referred to in this Commitment and covered herein is: A FEE SIMPLE 4. Title to the estate or interest covered herein is at the effective date hereof vested in: JAC, LLC, A COLORADO LIMITED LIABILITY COMPANY 5. The Land referred to in this Commitment is described as follows: COMMENCING AT THE NW CORNER OF SECTION 1, TOWNSHIP 6 NORTH, RANGE 69 WEST OF THE 6TH P.M., COUNTY OF LARIMER, STATE OF COLORADO, THENCE N 89° 52' E, 354.63 FEET; THENCE S 00° 51' W. 70.36 FEET TO THE TRUE POINT OF BEGINNING; THENCE CONTINUING S 00' 51' W, 265.82 FEET; THENCE S 82- 27' 47" E, 312.59 FEET TO THE NW CORNER OF LOT 26, FAIRWAY ESTATES FIRST FILING; THENCE N 36' 05' 20" E, 97.48 FEET; THENCE S 550 0629" E. 332.42 FEET TO THE SW CORNER OF LOT 3, OF THE REPLAT OF A PART OF TRACT B, FAIRWAY ESTATES, THIRD FILING; THENCE N 00' 08' M W. 419.00 FEET TO THE NW CORNER OF THE ABOVE SAID LOT 3: THENCE S B90 55' 30" W. 635.05 FEET TO THE TRUE POINT F BEGINNING, Copyright 2006-2017 American Land Tide Association. All Rights Reserved The use of this Form 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. •MlRIC._K 11N� TITll „upv Daumrr�rnni«� 7 ALTA COMMITMENT Old Republic National Title Insurance Company Schedule B-1 (Requirements) Order Number: FCC25134676-3 The following are the requirements to be complied with: Payment to or for the account of the grantors or mortgagors of the full consideration for the estate or interest to be insured. Proper instrument(s) creating the estate or interest to be insured must be executed and duly filed for record, to -wit: 1. CORRECTION DEED CORRECTING THE LEGAL DESCRIPTION OF DEED RECORDED OCTOBER.31.2012 AT RECEPTION NO. 20120077155. (LEGAL CONTAINS SEVERAL OMISSIONS OF DIRECTIONS AND DUPLICATION OF AT LEAST 1 CALL) 2. (ITEM INTENTIONALLY DELETED) 3. DULY EXECUTED AND ACKNOWLEDGED STATEMENT OF AUTHORITY SETTING FORTH THE NAME OF SEEC ENTERPRISES, LLC, A UTAH LLC AS A LLC. THE STATEMENT OF AUTHORITY MUST STATE UNDER WHICH LAWS THE ENTITY WAS CREATED, THE MAILING ADDRESS OF THE ENTITY, AND THE NAME AND POSITION OF THE PERSON(S) AUTHORIZED TO EXECUTE INSTRUMENTS CONVEYING, ENCUMBERING, OR OTHERWISE AFFECTING TITLE TO REAL PROPERTY ON BEHALF OF THE ENTITY AND OTHERWISE COMPLYING WITH THE PROVISIONS OF SECTION 38-30-172, CRS. NOTE: THE STATEMENT OF AUTHORITY MUST BE RECORDED WITH THE CLERK AND RECORDER. OPERATING AGREEMENT PROVIDED TO LAND TITLE GUARANTEE DISCLOSES BEN MASSIMINO, AS MANAGER. 4, A FULL COPY OF THE FULLY EXECUTED OPERATING AGREEMENT AND ANY AND ALL AMENDMENTS THERETO FOR JAC, LLC, A COLORADO LIMITED LIABILITY COMPANY MUST BE FURNISHED TO LAND TITLE GUARANTEE COMPANY. SAID AGREEMENT MUST DISCLOSE WHO MAY CONVEY, ACQUIRE, ENCUMBER, LEASE OR OTHERWISE DEAL WITH INTERESTS IN REAL PROPERTY FOR SAID ENTITY. NOTE: ADDITIONAL REQUIREMENTS MAY BE NECESSARY UPON REVIEW OF THIS DOCUMENTATION, 5. WRITTEN CONFIRMATION THAT THE INFORMATION CONTAINED IN STATEMENT OF AUTHORITY FOR JAC, LLC, A COLORADO LIMITED LIABILITY COMPANY RECORDED OCTOBER 31, 2012 AT RECEPTION NO. 291 .0077154 IS CURRENT. NOTE: SAID INSTRUMENT DISCLOSES CHARLES NACOS AS THE MANAGER AUTHORIZED TO EXECUTE INSTRUMENTS CONVEYING, ENCUMBERING OR OTHERWISE AFFECTING TITLE TO REAL PROPERTY ON BEHALF OF SAID ENTITY. IF THIS INFORMATION IS NOT ACCURATE, A CURRENT STATEMENT OF AUTHORITY MUST BE RECORDED. 6. WARRANTY DEED FROM JAC, LLC, A COLORADO LIMITED LIABILITY COMPANY TO SEEC ENTERPRISES, LLC, A UTAH LLC CONVEYING SUBJECT PROPERTY. 7. DEED OF TRUST FROM SEEC ENTERPRISES, LLC, A UTAH LLC TO THE PUBLIC TRUSTEE OF LARIMER COUNTY FOR THE USE OF A LENDER TO BE DETERMINED TO SECURE THE SUM OF $1,500,000.00. 8. PROVIDE LAND TITLE GUARANTEE COMPANY WITH A CURRENT IMPROVEMENT SURVEY PLAT OR J ALTA COMMITMENT Old Republic National Title Insurance Company Schedule B-1 (Requirements) Order Number: FCC25134676-3 The following are the requirements to be complied with: AN ALTA SURVEY OF SUBJECT PROPERTY. UPON REVIEW, ADDITIONAL REQUIREMENTS AND/OR EXCEPTIONS MAY BE NECESSARY. LAND TITLE IS NOT RESPONSIBLE FOR ORDERING SAID IMPROVEMENT SURVEY PLAT OR AN ALTA SURVEY. SAID SURVEY MUST BE CERTIFIED TO LAND TITLE GUARANTEE COMPANY AND OLD REPUBLIC NATIONAL TITLE INSURANCE COMPANY. NOTE: ITEMS 1-3 OF THE STANDARD EXCEPTIONS WILL BE DELETED UPON RECEIPT OF AN APPROVED SURVEY, MATTERS DISCLOSED BY SAID SURVEY MAY BE ADDED TO SCHEDULE B-2 HEREOF. UPON THE APPROVAL OF THE COMPANY AND THE RECEIPT OF A NOTARIZED FINAL LIEN AFFIDAVIT, ITEM NO. 4 OF THE STANDARD EXCEPTIONS ON THE OWNER'S POLICY, WILL BE AMENDED AS FOLLOWS: ITEM NO. 4 OF THE STANDARD EXCEPTIONS IS DELETED AS TO ANY LIENS OR FUTURE LIENS RESULTING FROM WORK OR MATERIAL FURNISHED AT THE REQUEST OF JAC, LLC, A COLORADO LIMITED LIABILITY COMPANY. OLD REPUBLIC NATIONAL TITLE INSURANCE COMPANY SHALL HAVE NO LIABILITY FOR ANY LIENS ARISING FROM WORK OR MATERIAL FURNISHED AT THE REQUEST OF SEEC ENTERPRISES, LLC, A UTAH LLC. NOTE: ITEM 5 OF THE STANDARD EXCEPTIONS WILL BE DELETED IF LAND TITLE GUARANTEE COMPANY CONDUCTS THE CLOSING OF THE CONTEMPLATED TRANSACTION(S) AND RECORDS THE DOCUMENTS IN CONNECTION THEREWITH. NOTE: UPON PROOF OF PAYMENT OF 2014 TAXES, ITEM 6 WILL BE AMENDED TO READ: TAXES AND ASSESSMENTS FOR THE YEAR 2015 AND SUBSEQUENT YEARS. Old Republic National Title Insurance Company Schedule B-2 (Exceptions) Order Number: FCC25134676-3 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. Any facts, rights, interests, or claims thereof, not shown by the Public Records but that could be ascertained by an inspection of the Land or that may be asserted by persons in possession of the Land. 2. Easements, liens or encumbrances, or claims thereof, 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 of the proposed insured acquires of record for value the estate or interest or mortgage thereon covered by this Commitment. 8. (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. (a) Unpatented mining claims; (b) reservations or exceptions in patents or in Acts authorizing the issuance thereof; (c) water rights, claims or title to water. 8. EXISTING LEASES OR TENANCIES, IF ANY 9. TERMS, CONDITIONS AND PROVISIONS OF RIGHT OF ACCES AS SET FORTH IN DOCUMENTS RECORDED RECORDED JUNE 15, 1970 IN BOOK 1434 AT PAGE $93 AND JANUARY 4, 1982 IN BOOK 2148 AT PAGE 2C�4. 10. RIGHT OF WAY EASEMENT AS GRANTED TO FORT COLLINS-LOVELAND WATER DISTRICT IN INSTRUMENT RECORDED OCTOBER 29, 1971, IN BOOK 1481 AT PAGE 2977. 11. EASEMENTS, CONDITIONS, COVENANTS, RESTRICTIONS, RESERVATIONS AND NOTES ON THE PLAT OF FAIRWAY ESTATES BUSINESS ANNEXATION RECORDED JANUARY 20, 1981 IN BOOK 2099 AT PAGE, 27L. 12. TERMS, CONDITIONS AND PROVISIONS OF ORDINANCE RECORDED JANUARY 20, 1981 IN BOOK 2099 AT PAGE ZM. 13. TERMS, CONDITIONS AND PROVISIONS OF RESOLUTION RECORDED OCTOBER 01, 1991 AT RECEPTION NO. 91047460. 14. RIGHT OF WAY EASEMENTAS GRANTED TO CITY OF FORT COLLINS IN INSTRUMENT RECORDED OCTOBER 21, 1992, UNDER RECEPTION NO, 92065926. 15, TERMS, CONDITIONS AND PROVISIONS OF ORDINANCE RECORDED MARCH 19, 1996 AT RECEPTION NO. 26019280. Old Republic National Title Insurance Company Schedule B-2 (Exceptions) Order Number: FCC25134676-3 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: 16. ANY AND ALL RIGHTS OF THE DITCH COMPANY RELATING TO DITCHES, WHICH TRAVERSES SUBJECT PROPERTY OR IS DESCRIBED AS A BOUNDARY OF SUBJECT PROPERTY, INCLUDING BUT NOT LIMITED TO DITCH MAINTENANCE AND ACCESS RIGHTS TO LANDS ADJOINING THE DITCH OR CANAL. 17. ANY FACTS, RIGHTS, INTERESTS OR CLAIMS WHICH MAY EXIST OR ARISE BY REASON OF THE FOLLOWING FACTS SHOWN ON ALTAIACSM LAND TITLE SURVEY CERTIFIED OCTOBER 21, 2015 PREPARED BY NORTHERN ENGINEERING, JOB #1229-001 SAID DOCUMENT STORED AS OUR ESI 29504803 A) UTILITIES LOCATED OUTSIDE EASEMENT B) ENCROACHMENT OF STEEL STRUCTURE AND CONCRETE WALL JOINT NOTICE OF PRIVACY POLICY OF Land Title LAND TITLE GUARANTEE COMPANY, LAND TITLE GUARANTEE COMPANY - GRAND JUNCTION, d' aR"vo rir tiinPi,w%` LAND TITLE GUARANTEE COMPANY OF SUMMIT COUNTY N(4114 'r 'i"° LAND TITLE INSURANCE CORPORATION AND OLD REPUBLIC NATIONAL TITLE INSURANCE COMPANY This Statement is provided to you as a customer of Land Title Guarantee Company and Meridian Land Title, LLC, as agents for Land Title Insurance Corporation and Old Republic National Title Insurance Company. We want you to know that we recognize and respect your privacy expectations and the requirements of federal and state privacy laws. Information security is one of our highest priorities. We recognize that maintaining your trust and confidence is the bedrock of our business. We maintain and regularly review internal and external safeguards against unauthorized access to non-public personal information ("Personal Information"). In the course of our business, we may collect Personal Information about you from: applications or other forms we receive from you, including communications sent through TMX, our web -based transaction management system; your transactions with, or from the services being performed by, us, our affiliates, or others; > a consumer reporting agency, if such information is provided to us in connection with your transaction; and the public records maintained by governmental entities that we either obtain directly from those entities, or from our affiliates and non -affiliates. Our policies regarding the protection of the confidentiality and security of your Personal Information are as follows: We restrict access to all Personal Information about you to those employees who need to know that information in order to provide products and services to you. We maintain physical, electronic and procedural safeguards that comply with federal standards to protect your Personal Information from unauthorized access or intrusion. 11, Employees who violate our strict policies and procedures regarding privacy are subject to disciplinary action. We regularly access security standards and procedures to protect against unauthorized access to Personal Information. WE DO NOT DISCLOSE ANY PERSONAL INFORMATION ABOUT YOU WITH ANYONE FOR ANY PURPOSE THAT IS NOT PERMITTED BY LAW. Consistent with applicable privacy laws, there are some situations in which Personal Information may be disclosed. We may disclose your Personal Information when you direct or give us permission; when we are required by law to do so, for example, if we are served a subpoena; or when we suspect fraudulent or criminal activities. We also may disclose your Personal Information when otherwise permitted by applicable privacy laws such as, for example, when disclosure is needed to enforce our rights arising out of any agreement, transaction or relationship with you. Our policy regarding dispute resolution is as follows. Any controversy or claim arising out of or relating to our privacy policy, or the breach thereof, shall be settled by arbitration in accordance with the rules of the American Arbitration Association, and judgment upon the award rendered by the arbitrator(s) may be entered in any court having jurisdiction thereof. i/LAND TITLE GUARANTEE COMPANY A) The Subject real property may be located in a special taxing district. B) A certificate of taxes due listing each taxing jurisdiction will be obtained from the county treasurer of the county in which the real properly is located or that county treasurer's authorized agent unless the proposed insured provides written instructions to the contrary. (for an Owner's Policy of Title Insurance pertaining to a sale of residential real property) 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, Note: Effective September 1, 1997, CRS 30-10-406 requires [hat 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 rile any document that does not conform, except that, the requirement for the top margin shall not apply to documents using forms on which space is provided for recording or filing information at the top margin of the document. Note: Colorado Division of Insurance Regulations 8-1-2 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 Land Title Guarantee Company 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. Note: Affirmative mechanic's lien protection for the Owner may be available (typically by deletion of Exception no. 4 of Schedule B-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 material -men 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 un-filed mechanic's and material-men'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 CRS 10-11-123, notice is hereby given: This notice applies to owners policy commitments disclosing that a mineral estate has been severed from the surface estate, in Schedule B-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, Note: Pursuant to CRS 10-1-128(6)(a), It is unlawful to knowingly provide false, incomplete, or misleading facts or information to an insurance company for the purpose of defrauding or attempting to defraud the company. Penalties may include imprisonment, fines, denial of insurance, and civil damages. Any insurance company or agent of an insurance company who knowingly provides false, incomplete, or misleading facts or information to a policyholder or claimant for the purpose of defrauding or attempting to defraud the policyholder or claimant with regard to a settlement or award payable from insurance proceeds shall be reported to the Colorado Division of Insurance within the Department of Regulatory Agencies. Note: Pursuant to Colorado Division of Insurance Regulations 8-1-3, notice is hereby given of the availability of a closing protection letter for the lender, purchaser, lessee or seller in connection with this transaction, '"'"'''• �OX4P4TI7(F��... Commitment to Insure d'G': ALTA Commitment - 2006 Rev. -U * Z- # m OLD REPUBLIC NATIONAL TITLE INSURANCE COMPANY, a Minnesota corporation, (Company) for a valuable CD *�O consideration, commits to issue its policy or policies of title insurance, as identified in Schedule A, in favor of the Proposed Insured . 4L , •'• named in Schedule A, as owner or mortgagee of the estate or interest in the land described or referred to in Schedule A, �O d )O upon payment or the premiums and charges and compliance with the requirements; all subject to the provisions of Schedule A •, r�,•`� 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 such policy or policies is not the fault of the Company, CONDITIONS AND STIPULATIONS 1. The term "mortgage", when used herein, shall include deed of trust, trust deed, or other security instrument. 2. If the proposed Insured has or acquires actual knowledge of any defect, lien, encumbrance, adverse claim or other matter affecting the estate or interest or mortgage thereon covered by this Commitment other than those shown in Schedule B hereof, and shall fail to disclose such knowledge to Company in writing, the Company shall be relieved from liability for any Ws 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 disclese such knowledge to the Ccmparty, or if the Ccmpany 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 staled in Schedule A for the policy or policies committed for and such liability Is subject to the insuring provisions and the 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 or 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 or 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 STANDARD EXCEPTIONS in addition to the matters contained in the Conditions and Stipulations and Exclusions from Coverage above referred to, this Commitment is also subjectto the following: 1. Rights or claims of parties in possession not shown by the Public Records. 2. Easements, or claims of easements, not shown by the Public Records. 3. Discrepancies, conflicts in boundary lines, shortage in area, encroachments, and any facts which a correct survey or inspection of the Land would disclose and which are not shown by the Public Records. a. Any lien, or night to a lien, for services, labor or material theretofore or hereafter furnished, imposed by law and not shown by the Public Records. S. 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 CommitmenL IN WITNESS WHEREOF, Old Republic National Title Insurance Company has caused its corporate name and seal to be affixed by its duly authorized officers on the date shown in Schedule A to be valid when oountersigned by a validating officer or other authorized signatory. issued by. , , r , i r , �' Old Republic National Title Insurance Company Land Title Guarantee Company , 0 4 TITkF�•. ', a Stock Company 3033 East First Avenue Opp ,L 400 Second Avenue South Suite 600 Z9 Minneapolis, Minnesota 55401 Denver, Colorado B0206 303-321-1880 - st it A # - (612)371-IM * q _ t? - _ Zra _ ) ` Mark eY President John E.Frerer,Jr y * O * :�J�� * AMERICAN * [,AND TITLE Presililift aya �. ASSOCIATION ,�r1t11�`� en R.,w. r..v.. 9.cr.l.ry