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HomeMy WebLinkAboutHARMONY VILLAGE - REPLAT NO 3 - TYPE 1 - MINOR AMENDMENTS 8 AND 9 - LUC - 65-93G - SUBMITTAL DOCUMENTS - ROUND 1 - Supporting Documentation (3) 1 Filets LR51216BOO FIRST AMERICAN TITLE INSURANCE `COMPANY OWNER'S POLICY SCHEDULE A jm _;F1278.-02/12/01 09:41:08 Order No. LR51216B00 Policy No. 1339335 Amount of Insurance $1, 148,775.00 Date of Policy: February 6, 2001 at 7:29 A.M. 1. Name of Insured: First National Bank 2. The estate or interest in the land which is covered by this policy is: FEE SIMPLE 3. Title to the estate or interest in the land is vested in: First National Bank 4. The land referred to in this policy is described as follows: All of Lot 3 and portions of Lot 2 and Lot 4 of HARMONY VILLAGE P.U.D. , Replat No. 1, located in a portion of the Northeast 1/4 of Section 6, Township 6 North, Range 68 West of the 6th P.M. , City of Fort Collins, Larimer County, Colorado, more particularly described as follows: Basis of bearings: The course on the West right-of-way line of Timberline Road shown on Harmony Village P.U.D, recorded at Reception No. 99037003, Larimer County, Colorado, bearing South 01'03'26" East, a distance of 539.45 feet, being monumented at the Northerly end by a No. 5 rebar with a 1 1/2" aluminum surveyor's cap stamped "JR ENG LS 24307" and at the Southerly end by a No. 5 rebar with a 1 1/2" aluminum surveyor's cap stamped "JR ENG LS 24307" . Commencing at the Northeast corner of said Section 6; thence on said East Line, South 00'23'07" East a distance of 494.80 feet; thence South 89*36153" West a distance of 64.85 feet to the Point of Beginning, said point being a non-tangent point of curve; thence on the arc of a curve to the right having a Delta of 37'41'22", a radius of 40.00 feet, a distance of 26.31 feet, the chord of which bears South 70'55103" West a distance of 25.84 feet to a point of tangent; thence South 89*36153" West a distance of 135.44 feet; thence on the arc of a tangent curve to the left having a Delta of 07'48121 a radius of 312.00 feet, a distance of 42 .51 feet, the chord of which bears South 85'42'43" West a distance of 42 .47 feet; thence North 00'00'00" West a distance of 132.09 feet; thence South 89'36'51" West a distance of 25.41 feet; thence North 00'23'09" West a distance of 230.91 feet; thence South 88'37139" East a distance of 108.57 feet; thence South 89'42137" East a distance of 83 .S5 feet; thence South 44'56'54" East a distance of 44.25 feet; thence South 01'03'26" East a distance of 315.99 feet to the Point of Beginning. -Continued- urcoopi SC._I1/�"DULE A - Legal Description con -_.fled FdeA LR51216BU1 order No. LR51216BOO Policy No. 1339335 To Be Known As Lot 2A, HARMONY VILLAGE P.U.D. , REPLAT NO. 3, County of Larimer, State of Colorado. �Qxsigned ST AMERICAN TITLE INSURANCE CO NY Pile p LRS 1216& SCHEDULE B Order No. LR51216B00 Policy No. 1339335 EXCEPTIONS FROM COVERAGE This policy does not insure against loss or damage (and the Company will not pay costs, attorneys' fees or expenses) which arise by reason of: 1. Taxes and Assessments not certified to the Treasurer's Office. 2. Any facts, rights, interests or claims which are not shown by the public records but which could be ascertained by an inspection of the land or by making inquiry of persons in possession thereof. 3. Easements, or claims of easements, not shown by the public records. 4. Discrepancies, conflicts in boundary lines, shortage in area, encroachments, and any facts which a correct survey and inspection of the land would disclose, and which are not shown by the public records. 5. 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. 6. All taxes and assessments for the year 2001 and subsequent years, a lien, but not yet due or payable. 7. Reservation of right of proprietor of any penetrating vein or lode to extract his ore, in U.S. Patent recorded November 13, 1900 in Book 133 at Page 94. (EAST 1/2 NORTHEAST 1/2) 8. Reservation of right of proprietor of any penetrating vein or lode to extract his ore, in U.S. Patent recorded April 30, 1892 in Book 86 at Page 283. (SOUTHWEST 1/4 NORTHEAST 1/4) 9. Reservation of 1/20 part of all the oil and gas in or upon or produced by Elizabeth S. Randleman in the Deed recorded March 16, 1927 at Reception No. 322973. (SOUTHWEST 1/4 NORTHEAST 1/4) 10. Terms, conditions, provisions and obligations of that Easement Agreement recorded October 4, 1994 at Reception No. 94081821. 11. All easements, notes, statements and right-of-way as shown on the plat of subject property recorded June 15, 2000 at Reception No. 2000039918. 12. Terms, conditions, provisions and obligations of that Memorandum of Agreement and Notice recorded April 30, 1999 at Reception No. 99037002. 13. Easements, Covenants and Restrictions recorded August 6, 1999 at Reception No. 99070508. 14. By-Laws of Harmony Village Property Owner's Association recorded August 6, 1999 at Reception No. 99070509. -Continued- SCHEDULE B continued Filed LR51216DOO(\ Order No. LR51216B00 Policy No. 1339335 15. Articles of Incorporation of Harmony Village Property Owner's Association recorded August 6, 1999 at Reception No. 99070510. 16. Terms, conditions, provisions and obligations of that Agreement recorded June 28, 2000 at Reception No. 2000043298. 17. Declaration of Covenants, Conditions and Restrictions recorded July 26, 2000 at Reception No. 2000050080. 18. All matters as shown on ALTA/ACSM Land Title Survey by JR Engineering dated January 5, 2001. EXCLUSIONS FROM COVERAGE Th@ following'matters are expressly excluded from _;overage of this policy and the Company will not pay IL.or damage,costs,attorneys'fees or expenses which arise by reason of: 1. (a)Any law,ordinance or governmental regulation(including but not limited to building and zoning laws,ordinances,or regulations)restricting,regulating,prohibiting or relating to (i)the occupancy, use, or enjoyment of the land; (ii) the character, dimensions or location of any improvement now or hereafter erected on the land; (iii) a separation in ownership or a change in the dimensions or area of the land or any parcel of which the land is or was a part; or(iv) environmental protection, or the effect of any violation of these laws, ordinances or governmental regulations, except to the extent that a notice of the enforcement thereof or a notice of a defect, Tien or encumbrance resulting from a violation or alleged violation affecting the land has been recorded in the public records at Date of Policy. (b)Any governmental police power not excluded by(a)above,except to the extent that a notice of the exercise thereof or a notice of a defect,lien or encumbrance resulting from a violation or alleged violation affecting the land has been recorded in the public records at Date of Policy. 2. Rights of eminent domain unless notice of the exercise thereof has been recorded in the public records at Date of Policy, but not excluding from coverage any taking which has occurred prior to Date of Policy which would be binding on the rights of a purchaser for value without knowledge. 3. Defects, liens, encumbrances, adverse claims or other matters: (a)created, suffered, assumed or agreed to by the insured claimant; (b)not known to the Company,not recorded in the public records at Date of Policy,but known to the insured claimant and not disclosed in writing to the Company by the insured claimant prior to the date the insured claimant became an insured under this policy; (c)resulting in no loss or damage to the insured claimant; (d)attaching or created subsequent to Date of Policy; or (e)resulting in loss or damage which would not have been sustained if the insured claimant had paid value for the estate or interest insured by this policy. 4. Any claim,which arises out of the transaction vesting in the Insured the estate or interest insured by this policy, by reason of the operation of federal bankruptcy, state insolvency, or similar creditors' rights laws, that is based on: (i) the transaction creating the estate or interest insured by this policy being deemed a fraudulent conveyance or fraudulent transfer; or (ii) the transaction creating the estate or interest insured by this policy being deemed a preferential transfer except where the preferential transfer results from the failure: (a) to timely record the instrument of transfer; or (b) of such recordation to impart notice to a purchaser for value or a judgment or lien creditor. CONDITIONS AND STIPULATIONS 1. DEFINITION OF TERMS. by this policy which constifufes the basis of loss or damage for any loss or damage caused thereby. and shall state,to the extent possible,the basis of calculating (b) In the event of any litigation,including litigation by The following terms when used in this policy mean: the amount of the loss or damage. If the Company is the Company or with the Company's consent,the Company (a) "insured":the insured named in Schedule A,and, prejudiced by the failure of the insured cla mant to provide the shall have no liability for loss or damage until there has been subject to any rights or defenses the Company would have required proof of loss or damage,the Company's obligations a final determination by a court of competent jurisdiction, had against the named insured,those who succeed to the to the insured under the policy shall terminate,including any and disposition of all appeals therefrom,adverse to the title interest of the named insured by operation of law as liability or obligation to defend, prosecute, or continue any as insured. distinguished from purchase including, but not limited to, litigation,with regard to the matter or matters requiring such (c) The Company shall not be liable for loss or heirs,distributees,devisees,survivors,personal representa- proof of loss or damage. damage to any insured for liability voluntarily assumed by the fives,next of kin,or corporate or fiduciary successors. In addition, the insured claimant may reasonably be insured in settling any claim or suit without the prior written (b) "insured claimant":an insured claiming loss or required to submit to examination under oath by any consent of the Company. damage. authorized representative of the Company and shall produce for examination,inspection and copying,at such reasonable 10. REDUCTION OF INSURANCE; REDUCTION OR (c) "knowledge"or"known":actual knowledge, not times and places as may be designated by any authorized TERMINATION OF LIABILITY constructive knowledge or notice which may be imputed to representative of the Company,all records, books, ledgers, an insured by reason of the public records as defined in this checks,correspondence and memoranda,whether bearing a policy or any other records which impart constructive notice date before or after Date of Policy,which reasonably pertain All payments under this policy,except payments made of matters affecting the land. to the loss or damage.Further,if requested by any author zed for costs, attorneys' fees and expenses, shall reduce the (d) "land": the land described or referred to in representative of the Company, the insured claimant shall amount of the Insurance pro tanto. Schedule(A),and improvements affixed thereto which by law grant its permission, in writing, for any authorized rep- 11. LIABILITY NONCUMULATIVE. constitute real property.The term"land"does not include any resentative of the Company to examine,inspect and copy all property beyond the lines of the area described or referred records,books,ledgers,checks,correspondence and mem- It is expressly understood that the Amount of In- to in Schedule (A), nor any right, title, interest, estate or oranda in the custody or control of a third party, which surance underthis policy shall be reduced by any amount the easement in abutting streets,roads,avenues,alleys,lanes, reasonably pertain to the loss or damage. All information Company may pay under any policy insuring a mortgage to ways or waterways, but nothing herein shall modify or limit designated as confidential by the insured claimant provided which exception is taken in Schedule B or to which the the extent to which a right of access to and from the land is to the Company pursuant to this Section shall not be insured has agreed,assumed,or taken subject,or which Is insured by this policy. disclosed to others unless,in the reasonable judgment of the (e) "mortgage mortgage,deed of trust,trust deed, Company,it is necessary in the administration of the claim. hereafter executed by an insured and which is a charge n or other securityInstrument. Failure of the insured claimant to submit for examination lien on the estate a interest described or referred a in Schedule A, and the amount so paid shall be deemed a "public records":records established under state under oath,produce other reasonably requested information(IIIp or grant permission to secure reasonably necessary informa- payment under this policy to the insured owner. statutes at Date of Policy for the purpose of imparting tion from third parties as required in this paragraph,unless constructive notice of matters relating to real property to 12. PAYMENT OF LOSS. purchasers for value and without knowledge.With respect to Prohibited by law or governmental regulation,shall terminate Section I(a)(iv) of the Exclusions From Coverage, "public any liability of the Company under this policy as to that claim. (a) No payment shall be made without producing this records"shall also incude environmental protection liens filed 6 OPTIONS TO PAY OR OTHERWISE SETTLE CLAIMS; policy for endorsement of the payment unless the policy has . in the records of the clerk of the United States district court TERMINATION OF LIABILITY been lost or destroyed, in which case proof of loss or for the district in which the land is located. destruction shall be furnished to the satisfaction of the (g) "unmarketability of the title": an alleged or In case of a claim under this policy,the Company shall Company. apparent matter affecting the title to the land,not excluded or have the following additional options: (b) When liability and the extent of loss or damage has excepted from coverage,which would entitle a purchaser of been definitely fixed in accordance with these Conditions and the estate or interest described in Schedule A to be released (a) To Pay or Tender Payment of the Amount of Stipulations,the loss or damage shall be payable within 30 from the obligation to purchase by virtue ti contractual Insurance.To payortenderpaymento(theamountofinsurance days thereafter. condition requiring the delivery of marketablele title. under this policy together with any costs,attorneys'fees and expenses incurred by the insured claimant, which were 13. SUBROGATION UPON PAYMENT 2. CONTINUATION INSURANCE AFTER authorized by the Company, up to the time of payment or OR SETTLEMENT. CONVEYANCE OFF TITLE. tender of payment and which the Company is obligated to (a) The Company's Right of Subrootlon. The coverage of this policy shall continue in force as pay. Whenever the Company shall have settled and paid a Upon the exercise by the Company of this option,all of Date re Policy in favor of nt insured only d, long as the liability and obligations to the insured under this policy,other claim under this policy,all right of subrogation shall vest t. insured retains an estate or interest in the land,or holds an the Company unaffected by any act of the insured claimant. indebtedness secured by a purchase money mortgage given than to make the payment required,shall terminate,Including—,liohi6fi,—nhlir tinn M W—A nrnad. ——Mi—. The Company shall be subrogated to and be entitled to all umao Uy UDC uiaweu nr dly umuim m cuuvnydnce Ur uie •......... -- -� �•�• had this policy not been issued.-If requested by the Company, estate or interest.This polcy shall not continue in force in (b) To Pay or Otherwise Settle With Parties Other tha the insured claimant shall transfer to the Company ail rights favor of any purchaser from the insured of either(i)an estat the Insured or With the Insured Claimant and remedies against any person or property necessary in or interest in the land_or(ii) an indebtedness secured by (i) 10 pay pr otherwise settle with other parties f order to perfect this right of subrogation. The insured purchase mp y mortgage given to the insured. or in the name of an nsured claimant any claim insure claimant shall permit the Company to sue,compromise or against under this policy,together with any costs,attorneys' settle in the name of the insured claimant and to use the name 3. NOTICE OF CLAIM TO BE GIVEN BY fees and expenses incurred by the insured claimant which of the insured claimant in any transaction or litigation INSURED CLAIMANT. were authorized by the Company up to the time of payment involving these rights or remedies. and which the Company is obligated to pay;or ff a payment on accountof a claim does not fully cover The insured shall notify the Company promptly in (ii) to pay or otherwise settle with the insured the loss of the insured Claimant, the Company shall be writing(i) n case of any litigation as set forth In Section 4(a) claimant the loss or damage provided for under this policy, subrogated to these rights and remedies in the proportion below, (it) in case knowledge sha come to an nsured together with any costs, attorneys' fees and expenses which the Company's payment bears to the whole amount hereunder of any claim of tille or interest which is adverse to incurred by the insured claimant wh ch were authorized by the of the loss. the title to the estate or interest,as insured,and which might Company up to the time of payment and which the Company If loss should result from any act of the insured cause loss or damage for which the Company may be'iable is obligated to pay. claimant,as stated above,that act shall not void this policy, by virtue of this policy,or;ii)if title to the estate or nterest, Upon the exercise by the Company of either of the but the Company,in that event,shall be required to pay only as insured,is re,ected as unmarketable.It prompt notice shall options provided for in paragraphs (b)(i) or (ii), the Com- that part of any losses insured against by this policy which not be given to the Company,then as to the insured all liability pangs obligations to the insured under this policy for the shalt exceed the amount, if any, lost to the Company by of the Company shall terminate with regard to the matter or claimed loss or damage,other than the payments required to reason of the impairment by the insured claimant of the matters for which prompt notice is required; provided, be made,shall terminate,including any liability or obligation Company's right of subrogation. however,that failure to notify the Company shall in no case to defend,prosecute or continue any litigation. (b) The Company s Rights Against noninsured prejud ce the rights of any nsured under this policy unless Obligors. the Company shall be prejudiced by the failure and then only 7. DETERMINATION,EXTENT OF LIABILITY The Company's right of subrogation against non- to the extent of the prejudice. AND COINSURANCE, insured obligors shall exist and shall include, without 4. DEFENSE AND PROSECUTION OF ACTIONS; This policy is a contract of indemnity against actual limitation,the rights of the insured to indemnities,guaranties, DUTY OF INSURED CLAIMANT TO COOPERATE. monetary loss or damage sustained or incurred by the other policies of insurance or bonds, notwithstanding any insured claimant who has suffered loss or damage by reason terms or conditions contained in those instruments which (a) Upon written request by the insured and subject to of matters insured aga nst by this policy and only to the extent provide for subrogation rights by reason of this policy. the options contained in Section 6 of these Conditions and herein described. 14. ARBITRATION. Stipulations, the Company, at its own cost and without (a) The liability of the Company under this policy shall unreasonable delay, shall provide for the defense of an not exceed the least of: Unless prohibited by applicable law, either the Com- insured in ligation in which any third party asserts a claim (i) the Amount of Insurance stated in Schedule A; pany or the insured may demand arbitratlon pursuant to the adverse to the title or interest as.nsured,but only as to those or Title Insurance Arbitration Rules of the American Arbitration stated causes of action alleging a detect, lien or en- (ii) the difference between the va ue of the nsured Association. Arbitrable matters may include, but are not cumbrance or other matter insured against by this policy.The estate or interest as insured and the value of the insured estate limited to,any controversy or Claim between the Company Company shall have the nght to select counsel of its choice or interest subject to the defect,lien or encumbrance insured and the insured arising out of or relating to this policy,any (subject to the right of the nsured to object for reasonable against by this policy. service of the Company in connection with Its issuance or cause)to represent the nsured as to those stated causes of (b) in the event the Amount of insurance stated in the breach of a policy provision or other obligation. All action and shall not be Cable for and will not pay the fees of Schedule A at the Date of Policy s less than 80 percent of arbitrable matters when the Amount of Insurance is any other counsel,The Company will not pay any fees,costs the value of the nsured estate or interest or the full $1,000,000 or less shall be arbitrated at the option of either or expenses incurred by the insured n the defense of those consideration paid for the land, whichever is less, or if the Company or the insured.All arbitrable matters when the Causes of action which allege matters not insured against by subsequent to the Date of Policy an improvement is erected Amount of Insurance is in excess of$1,000,000 shall be this policy on the land which increases the value of the insured estate arbitrated only when agreed to by both the Company and the (b) The Company shall have the fight,at its own cost, or interest by at least 20 percent over the Amount of insured. Arbitration pursuant to this policy and under the to institute and prosecute any action or proceeding or to do Insurance stated in Schedule A,then this Pol.cy is subject to Rules in effect on the date the demand for arbitration is made any other act which in its Opinion may be necessary or the following: or,at the option of the insured,the Rules in effect at Date of desirable to establish the title to the estate or interest, as (i) where no subsequent improvement has been Policy shall be binding upon the parties. The award may insured, or to prevent or reduce lass or damage to the made,as to any partial loss,the Company shall only pay the include attorneys,fees only if the laws of the state in which insured.The Company maytake any appropriate action under loss pro rata in the proportion that the Amount of Insurance the land is located permit a court to award attorneys'fees to the terms of this policy whether or not it shall be liable at Date of Policy bears to the total value of the insured estate a prevailing party.Judgment upon the award rendered by the hereunder, and shall not thereby concede liability or waive or interest at Date of Policy; or (ii) where a subsequent Arbibrator(s)may be entered in any court having jurisdiction any provision of th s pol.cy.If the Company shall exercise its improvement has been made, as to any partial loss, the thereof. rights under the paragraph, it shall do so diligently. Company shall only pay the loss pro rate in the proportion that The law of the situs of the land shall apply to an (c) Whenever the Company shall have brought an 120 percent of the Amount of Insurance stated in Schedule arbitration under the Tille Insurance Arbitration Rules, action or interposed a defense as required or permitted by the A bears to the sum of the Amount of insurance stated in A copy of the Rules may be obtained from the provisions of this policy, the Company may pursue any Schedule A and the amount expended for the mprovement. Company upon request. litigation to Tina determ nation by a court of competent The provisions of this paragraph shall not apply to jurisdiction and expressly reserves the fight, in its sole costs,attorneys'fees and expenses for which the Company 15, LIABILITY LIMITED TO THIS POLICY; discretion,to appea from any adverse judgment or order. is liable under this policy,and shall only apply to that portion POLICY ENTIRE CONTRACT. (d) In a I cases where this poll cy permits or requires of any loss which exceeds,in the aggregate, 10 percent of the Company to prosecute or provide for the defense of any the Amount of Insurance stated in Schedule A. (a) This policy together with all endorsements,if any, action or proceed ng, the insured sha I secure to the (c) The Company will pay only those costs,attorneys' attached hereto by the Company is the entire policy and Company the fight to so prosecute or provide defense in the fees and expenses incurred in accordance with Section 4 of contract between the insured and the Company.In interpret- action or proceeding,and ail appeals therein,and permit the these Conditions and Stipulations. ing any provision of this policy,this policy shall be construed Company to use,at its option,the name of the insured for this as a whole. purpose.Whenever requested by the Company,the insured, 8. APPORTIONMENT. (b) Any claim of loss or damage, whether or not at the Company's expense, shall give the Company all based on negligence,and which arises out of the status of reasonable aid (I) in any action or proceeding, securing If the land described in Schedule(A)(C)consists of two the title to the estate or interest covered hereby or by any evidence,obtaining witnesses,prosecuting or defending the Or more parcels which are not used as a single site,and a loss action asserting such claim,shall be restricted to this policy, action or proceeding,Or effecting settlement.and(ii) n any is established affecting one or more of the parcels but not all, (c) No amendment of or endorsement to this policy other lawful act which in the op nion of the Company may be the lass shall be computed and settled on a pro rata basis as can be madeexcept by awriting endorsed hereon or attached necessary or desirable to establish the title to the estate or if the Amount of Insurance under this policy was divided pro hereto signed by either the President,a Vice President,the interestas insured.If the Company is prejudiced by the failure rata as to the value on Date of Policy of each separate parcel Secretary, an Assistant Secretary, or validating officer or of the insured to furnish the required cooperation, the to the whole, exclusive of any improvements made sub. authorized signatory of the Company. Company's obligations to the insured under the policy sha I sequent to Date of Policy, unless a liability or value has terminate, including any liability or obligation to defend, otherwise been agreed upon as to each parcel by the 16, SEVERABILITY, prosecute,or continue any litigation,with regard to the matter Company and the insured at the time of the issuance of this or matters requ ring such cooperation. policy and shown by an express statement or by an In the event any provision of the policy is held invalid endorsement attached to this policy. or unenforceable under applicable law, the policy shall be 5. PROOF OF LOSS OR DAMAGE. deemed not to include that provision and all other provisions In addition to and after the notices required under 9. LIMITATION OF LIABILITY. shall remain in full force and effect. Section 3 of these Conditions and Stipulations have been (a) Ifihe Company establishes the title,or removes the 17. NOTICES.WHERE SENT. provided the Company,a proof of loss or damage signed and alleged defect, lien or encumbrance,or cures the lack of a sworn to by the insured claimant shall be furnished to the right of access to or from the land, or cures the claim of a„O,required mbe given the Company and any statement Company within 90 days after the Insured claimant shall unmarketability of title,all as insured,in a reasonably diligent in writing required to be furnished the Company shag incivi dna ascertain the facts giving rise to the loss or damage. The manner by any method,including litigation and the comple- number of this policy and show be addressed to the Company at proof of loss or damage shall describe the defect in,or lien tion of any appeals therefrom,it shall have fully performed its 1 First American way, Santa Ana,California 92707,or to the orrice or encumbrance -the title,or other matter insured against obligations with respect to that matter and shall not be I'able which issued this policy.