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Home My WebLink About20081938.tiff • • hill 11111 1111111 11111 111 11111 llllill 11:111111,30,1011111111 at , R 6060 12.85 J.p,Sukl" Is 916 Warranty Deed THIS DEED is a conveyance of the real property described below, including any improvements and otter appurtenances (the "property")from the individual(s),corporation(s),pannership(s).or other entity(ies)named below as GRANTOR to the individual(s) or entity(ies)named below as GRANTEE. The GRANTOR hereby sells and conveys the property to the GRANTEE and the GRANTOR warrants the title to the property.except for(1)the lien of the general property taxes for the year of this deed,which the GRANTEE will pay(2)any easements and rights-of' way shown of record (3)any patent reservations and exceptions(4)any outstanding mineral interests shown of record (5)any protective covenants and restrictions shown of record(6)any additional matters shown below under"Additional Warranty Exceptions', and(7)subject to building and zoning regulations. $12.85 The Specific Terms or This Deed Are: Grantor: (Give mne(a)and peels)of rntlmce',if the spout of the owner-grantor u joining in this Deed to release homestead rights,identify grantors as husband and wife.) THE NAZARENUS LATERAL DITCH COMPANY,A COLORADO CORPORATION Gramme: (Give mm(q and address(es):statement of address,including available road or sweet number.) SIPERRY LAWLEY 26658 WCR 74,EATON,CO 80615 Form of Co-Owmmhlp: Of Mae art two or inure grantees named,they will be considered to take as tenant N common unless the words In joint tenancy"or words of the same meaning are added in the space below.) Property Description (include county and armed The N I/2SE1/4 and the SEI/4SE1/4 of Section 4,Township 6 North,Range 64 West of the 6th P.M.,Weld County, Colorado. TOGETHER WITH ATTACHED RIGHT-OF-WAY AND EASEMENT AGREEMENT Property Address: (TO BE DETERMINED) Consideration: (TM somas of a dollar amount is optional.adequate consideration for tits deed will be presumed tanks,this conveyance is identified • as a gift. In any case Nis conveyance is amolme.final and unconditional.) ONE HUNDRED TWENTY EIGHT THOUSAND FIVE HUNDRED AND 00/100 Reservations-Restrictions: (lithe GRANTOR intends to nerve any interest in the prapeny our to convey less Nan is owned,or if the GRANTOR is restricting the GRANTEE'S right in the property,male appro riate indication.) Ce rr :Additional Warremy' ions: (Include dads of man being assumed and other maven not covered above.) tel: br. E ecutdd ty_4O ntor on JULY 19,2002 6fP m fa Corporation,Partnership or Association: Signature for individuals): TILE NAZARENUS LATERAL DITCH COMPANY,A COLORADO CORPORATION Name of Grantor: Corp poora attion.Part enhip or Association Grantor R{J t Y,OR •SID NT nfri TO V OR PRESIDENT Grantor 1. By Grantor Most: STATE OF COLORADO COUNTY OF WELD 3 ' The foregoin instrument was acknowledged before me this 19th day of JULY,2002 BR� RESIDENT,OF THE NAZARENUS LATERAL,DITCH COMPANY,A COLORADO CORPORATION .31 Li YrIk HISS and'ofM l seal. Y mmmaulfhrmkaF> Ta::Mfp(ry 28,2005 l o y Pia 3 Ic ATE SPCA .O r see_ 1221 BTH AVE, ELE 80631 ]7 OF ap� dla ' was acknowledged before me this day of • BYtittizzsssssfr ~f� (Mime individual ry of corporation: or if Grantor is Corporation,Pannerib p ors Association,then identify signers as president or vice president and secretary or assistant secretary of corporation:or as eminent)of partnership:or as authorized mmther0)of association.) WITNESS my hand and official seal. My commission expires: Notary Public O 1981 UPDATE LEGAL FORMS 2008-1938 s‘i 03 • i f..I', tr.<1q L..r f..J .r. -...✓L .....f. 1L r f.. {A ..1. ,.Y.,!% I. 4,...h( L-, (L. ,,..c ., �. J ..<7 .art /( ,.IiJ.j.7: . • f).— ‘v . - . n.ig/. ' 1 . 2.-.'11.:(i;f•J, 3,...1.. . N, J . 1.)), \F.-11 ./..,1. Cci-1I " (..J... 1 ill: L.. .f. W '1�t. /I k'il-e rv...! 1,. 1 ,.. .,6.r ,..to ,/, d,. ..• !1 .'(.� ,b4.! (.F, - . 1*.1.1 i.?I1;. ..• ....1 .),.Sa L�11. �,..,,.,<C(7 ii.l..n .1 / I. 1',; .i., ii l tr,.l. ,t ( liEL (�,,,.' 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I (. i ,-2A- d.. _.-4_,42.1...-t<-,.,Re ;Iti, e... 2r> a.,... r a ,..r.. f a . A�1 r7 /•� r, .,t, I d.1 ..--,.r:�a7.-4.J,:.t.f�l'lu,uL:If^.:C......{� -�.....,.•:uo-ie.wf.e. ' I' .Ji•1.Vd.41el' ✓.�1,CA-e dl...r..,.6• ....<i.eA.,de:._,.1 (.•$,4e,,...{...r'(+.L , ;.; .I :'t,.::,:AI ) Ah.4-.,.1-'Sur .• :,4:.C:...:.,L1,4.444.Q.V 1•L Is'oi..: .:10.r,-.4... Jj-. l9'.4 ej. I. ig .'% . : l G ,iz . I. 4-4-,,4-4-. 4-4- 4-4-,. .: ... . ., _ - 14-4-4-4- _. 11_ 4- 4-4-, 4-,: �...;t,y f . C, - -_ _ 4-4-4-4-, � '�^'.1' 4-,4-4-4- ,t. [88 • • 41 . UNITED STATES LAND PATENT n. AUG 18 1920 Denver 016281 4-1028 THE UNITED STATES OF AMERICA - To all to whom these presents shall Come,. Greeting: WHEREAS, a Certificate of the Register of the Lard Office at Denver, Colorado, has been deposited in the General Lund Office, whereby it appears that full payment has beer. made by the claimant Anna E. Calvin according to the provisions of the Aot of Congress approved March 3, 1877, entitled "Ar. Act to provide for the sale of desert lands in cer- tain States and Territories,' as amended by the Act of March 3, 1891, and supplemented by the Act of March 4, 1915, for the north half of the southeast quarter and the south- east quarter of the southeast quarter of Section four in Township six north of Range sixty-four west of the Sixth Principal Meridian, Colorado, containing one hundred twenty acres, according to the Official Plat of the Survey of the said Land, returned co the GENERAL LAND OFFICE by the Surveyor-General: 9 NOW KNOW YE, That the UNITED STATES OF AMERICA, in consideration of the premises, II !�I and in conformity with the several Acts of Congress In such case made and provided, HAS II 'p. GIVEN AND GRANTED, end by these presence DOES GIVE AND GRANT, unto the said claimant and ll to the noire of the said claimant the Tract above described; TO HAVE: AND TO HOLD the same, together with all the rights, privileges, immunities, and appurtenances, of what- II stover nature, thereunto belonging, unto the said claimant and co the heirs and assigns V of the said claimant forever; subject to any vdeted and accrued water rights for mining, agricultural; manufacturing, or other purposes, and rights to dicenes and reservoirs used U in connection with such water rights, ae may he recognized and aekmoNledged by the local customs, laws, and decisions of courts; and there is reserved from the lards hereby grant- ed, a right of way thereon for ditches or canals conutrueted by the authority of the United States. �I IN TESTIMONY WHEREOF, I, 'Woodrow Wilson, i '' President of the United States of America, nave caused these 6 loots re to be made Patent, and the Seal of tile General Lard Office to be nereunto affixed. ii /6 'S' GIVEN under my nand, at the City of Washington, the Fourth I . c 'E ° , day of August in the year of our Lord one thousand nine y, hundred and Twenty and of the Independence of the United .r, • ---.`— States the one hundred and Forty-fifth. Ii By the President: Woodrow Wilson By - M.P. LeRoy, Secretary, _ L y^, C. Lamar Recorder of the General Lund Office, RECORDED: Patent Number 766334 Filed for record at 3 o'clock P. M. Feb 16 1921 i Fees, $.75 • Caen. E. Littell Recorder. By H. C. Cooper Deputy. N. ii G n I j • • 264 Pic ban 96,3600 • 111111111111111111111111111111111111111111111111111111 3208264 08111/2004 03:0SP Weld County,CO 1 of 4 R 21.00 D 0.00 Steve Morello Clerk&Recorder Producers 88 PAID-UP OIL AND GAS LEASE Rocky Mountain 2000 (Paid-Up Rev 1996) Petroleum Development Corporation THIS AGREEMENT,made and entered into this 6th day of,lyly,24Q4,by and between Sherry Lawley,26658 Weld County Road 74,Eaton,CO 80615 hereinafter called lessor(whether one or more),and Petroleum Development Corporation,2970 29th Street,Unit #18,Greeley,Colorado 80631,hereinafter called lessee: WPITIESSETH: I.That lessor,for and in consideration of--Ten--dollars(S a10 00• ) in hand paid,receipt of which is hereby acknowledged,and of the agreements of lessee hereinafter set forth,hereby grants, demises, leases and lets exclusively unto lessee the lands described below for the purpose of investigating, prospecting,exploring (by geophysical and other methods),drilling,operating for and producing oil or gas,or both (as defined below),together with the right to construct and maintain pipelines,underground telephone and electric lines,tanks,ponds,roadways,plants,equipment,and structures thereon to produce,save and take care of said oil and gas(which right shall include specifically a right-of-way and easement for ingress to and egress from said lands by lessee,or its assignees,agents or permittees,necessary to or associated with the construction and maintenance of such pipelines,telephone and electric lines,tanks,ponds,roadways,plants,equipment,and structures on said lands to produce,save and take care of the oil and gas),and the exclusive right to inject air, gas,water,brine and other fluids from any source into the subsurface strata,and any and all other rights and privileges necessary,incident to, or convenient for the economical operation of said land, alone or conjointly with neighboring land, for the production,saving and taking care of oil and gas and the injection of air, gas,water,brine,and other fluids into the subsurface strata. No injection wells shall be used for or with fluids produced from other lands without the written consent of Lessor. Said lands being situated in the County of Weld,State of Colorado described as follows,to-wit: • Towasbin 6 North.Ranee 64 West.6th PA Section 4:N/2SE/4,SE/4SPJ4 This Oil and Gas Lease(the"Agreement"or the"Lease")is subject to that certain Side Letter Agreement dated this same date attached hereto and made a part hereof. Said Side Letter Agreement provides additional terms for this Agreement and should any term in this Agreement conflict with the terms of the Side Letter Agreement,those terms found in the Side Letter Agreement shall control. In addition to the land described above,lessor hereby grants, leases and lets exclusively unto lessee,to the same extent as if specifically described, lands which are owned or claimed by lessor by one of the following reasons: (I)all lands and rights acquired or retained by lessor by avulsion,accretion,reliction or otherwise as the result of a change in the boundaries or centerline of any river or stream traversing or adjoining the lands described above;(2)all riparian lands and rights which are or may be incident,appurtenant,related or attributed to lessor in any lake,stream or river traversing or adjoining the lands described above by virtue of lessor's ownership of the land described above;(3)all lands included in any road,easement or right-of-way traversing or adjoining the lands described above which are or may be incident, appurtenant, related or attributed to lessor by virtue of lessor's ownership of the land described above. For the purpose of calculating payments provided for herein,it shall be deemed that the lands covered by this lease contain 120 00 acres,whether there actually be more or less. The term oil as used in this lease shall be interpreted to include any liquid hydrocarbon substances which occur naturally in the earth,including drip gasoline or other natural condensate recovered from gas without resort to manufacturing process. The term gas as used in this lease shall be interpreted to include any substance,either combustible or non-combustible,which is produced in a natural state from the earth and which maintains a gaseous or ratified state at ordinary temperature and pressure conditions,including but not limited to helium,nitrogen, carbon dioxide,hydrogen sulfide,coal bed methane gas,casinghead gas and sulphur. Subject to the other provisions herein contained,this lease shall remain in force for a term of one(I)year from this date(herein called'primary term')and as long thereafter as oil and gas,or either of them,is produced in commerical quantities from the leased premises or drilling operations are continuously prosecuted. For purposes of this lease,a well completed for the production of coalbed methane gas shall be deemed to be producing gas under this lease at all times when dcwatering of the coal seams from which the coalbed methane gas will be produced is • • 1111111111111111 IIIIIU III 111111111111 3208264 08111/2004 03:06P Weld County,CO • 2 al 4 R 21.00 D 0.00 Steve Moreno Clerk&Recorder occurring. For purposes of this lease,"drilling operations"shall include operations for the drilling of a new well and operations for the reworking,deepening or plugging back of a well or hole or other operations conducted m an effort to establish,resume or re-establish production of oil and gas;drilling operations shall be considered to be "continuously prosecuted"if not more than one hundred twenty(120)days shall elapse between the completion and abandonment of one well or hole and the commencement of drilling operations on another well or hole;drilling operations shall be deemed to be commenced for a new well at such time as lessee has begun the construction of the wellsite location or the road which provides access to the wellsite location;and drilling operations shall be deemed to be commenced with respect to reworking,deepening,plugging back or other operations conducted in an effort to resume or re-establish production of oil and gas at such times as lessee has the requisite equipment for such operations at the wellsite. 2.The lessee shall deliver to the credit of the lessor as royalty,free of cost,in the pipeline to which lessee may connect its wells the equal three-sixteenths(3/16ths)part of all oil produced and saved from the leased premises,or lessee may from time to time at its option purchase any royalty oil in its possession,paying thc market price thereof prevailing for oil of like grade and gravity in the field where produced on the date of purchase. The lessee shall pay lessor,as royalty,on gas,including casinghead gas or other gaseous substances,produced from the leased premises and sold or used off the premises or used in the manufacture of gasoline or other products, the market value at the well of three-sixteenths(3/16ths)of the gas sold or used,provided that on gas sold the royalty shall be three-sixteenths(3/161hs)of the amount realized from such sale. The amount realized from the sale of gas shall be the price established by the gas sales contract entered into in good faith by lessee and a gas purchaser for such term and under such conditions as are customary in the industry. "Price"shall mean the net amount received by lessee after giving effect to applicable regulatory orders and after application of any applicable price adjustments specified in such contract or regulatory orders. In the event lessee compresses,treats,purifies or dehydrates such gas(whether on or off the leased premises)or transports gas off the leased premises,lessee in computing royalty hereunder may deduct from such price the actual charge incurred by lessee from third parties for each of such functions perfomned,based upon that proportion which lessor's royalty hereunder bears to the total amount of such charges. 3.This is a paid-up lease and all cash consideration first recited above and annual rentals have been paid to lessor in advance to keep this lease in full force and effect throughout the primary term.In consideration of the payment of such cash consideration and advance of annual rentals,lessor agrees that lessee shall not be obligated, except as otherwise provided herein,to commence or continue any operations during the primary term. Lessee may at any time or times during or after the primary term surrender this lease as to all or any portion of the land • described above,and as to any strata or stratum,by delivering to lessor or by filing of record a release or releases, and be relieved of all obligations thereafter accruing to the acreage surrendered except any environmental liabilities if any. 4.Any payments required to be made to lessors pursuant to this lease,other than the payment of royalties, may be paid by lessee to the lessor or to lessor's credit in the Bank,at (or its successor or successors, or any bank with which it may be merged or consolidated, or which succeeds to its business assets or any part thereof,by purchase or otherwise)which shall continue as the depository regardless of changes in the ownership of said land or the oil and gas. All such payments may be made by cash,check or draft, mailed or delivered on or before the due date for that payment Any payments so made shall be binding on the heirs,devisees,executors,administrators,and personal representatives of lessor and on lessor's successors in interest or on lessor's assigns. 5.It at the expiration of the primary term of this lease,oil or gas is not being produced from the leased premises but lessee is then engaged in drilling operations,this lease shall continue in force so long as drilling operations are continuously prosecuted;and if production of oil or gas results from any such drilling operations, this lease shall continue in force so long as oil or gas shall be produced from the leased premises. If,after the expiration of the primary term of this lease,production on the leased premises should cease for any cause, this lease shall not terminate if lessee is then engaged in drilling operations,or within one hundred twenty(120)days after each such ressation of production commences or resumes drilling operations,and this lease shall remain in force so long as drilling operations are continuously prosecuted,and if production results therefrom,then as long thereafter as oil or gas is produced from the leased premises. 6.If at any time,either before or after the expiration of the primary term of this lease,there is a well capable of producing oil or gas on the lands covered by this lease,or on other lands with which lands covered by this lease are pooled or unitized,but the well is shut-in,whether before or after production therefrom,and this lease is not being maintained otherwise as provided herein,this lease shall not terminate(unless released by lessee)and it shall nevertheless be considered that oil or gas is being produced from lands covered by this lease during all times while the well is so shut-in. Lessee shall use reasonable diligence to market the oil or gas capable of being produced from such shut-in well,but shall be under no obligation to market the oil or gas under terms,conditions or circumstances which,in lessee's judgment exercised in good faith,are unsatisfactory. When the lease is continued in force in this manner,lessee shall pay or tender to the lessor or lessor's successors or assigns,an amount equal to S10.00 pa year per net mineral acre covered by the lease. Such payments shall be made on or before the shut-in royalty payment date,as defined below,next occurring after the expiration of one hundred twenty(120)days from the date the well was shut-in,unless prior to such date oil or gas from the well is sold or used or the lease is otherwise maintained as provided herein. In like manner,on or before each succeeding shut-in royalty payment date while such well remains • 1 111111 1110 11111 1111111 III 11111 IIIIUj III 1111 11111111 3208264 08111/2004 03:06P• 3 0l 4 R 21.00 D 0.00 Slave Moreno Clerk&Recorder shut-in,lessee shall make payment of shut-in royalty in the same amount and manner. The term"shut-in royalty payment date"shall mean the anniversary date of this lease.Any shut-in royalty payment may be made by cash, draft or check,mailed or tendered on or before the shut-in royalty date. 7. If lessor owns a lesser interest in the above described land other than the entire and undivided fee simple estate therein, then the royalties, including shut-in royalty,herein provided shall be paid to lessor only in the proportion which lessor's interest bears to the whole and undivided fee.Any interest in production from the lands described herein to which the interest of lessor may be subject shall be deducted from the royalty herein reserved. 8.Lessee shall have the right to use,free of cost,gas,oil and water produced on said land for its operation thereon,except water from wells and reservoirs of lessor. Lessee shall have the right at any time to remove all machinery and fixtures placed on said premises,including the right to draw and remove casing.The tight to draw and remove the casing is limited to one year after removal of machinery and fixtures or sixty(60)days following termination of this Lease whichever is earlier. 9. Lessee shall pay to lessor reasonable amounts for any damages caused by its operations including but not limited to growing crops on said land. Lessee shall bury its pipelines which traverse the lands below plow depth. No well shall be drilled nearer than three hundred(300)feet to a house or barn located on said premises at the time of drilling,without written consent of lessor. 10.Lessee is hereby given the right and power at any time and from time to time as a recurring right,either before or after production,as to all or any part of the land described above and as to any one or more of the formations hereunder,to pool or unitize the leasehold estate and the mineral estate covered by this lease with other land,lease or leases in the immediate vicinity for the production of oil and gas,or separately for the production of either,when in lessee's judgment it is necessary or advisable to do so,and irrespective of whether authority similar to this exists with respect to such other land,lease or leases.Likewise,units previously formed to include formations not producing oil or gas may be reformed to exclude such non-producing formations.The forming or reforming of any unit shall be accomplished by lessee executing and filing of record a declaration of such unitization or reformation,which declaration shall describe the unit.Any unit may include land upon which a well has heretofore been completed or upon which drilling operations have been commenced. Production,drilling or reworking operations or a well shut-in for any reason anywhere on a unit which includes all or a par of this lease shall be treated as if it were production,drilling or reworking operations or a well shut-in under this lease.In lieu of the royalties elsewhere herein specified,lessor shall receive on production from the unit so pooled royalties only on the portion of such production allocated to this lease;such allocation shall be that proportion of the unit production • that the total number of surface acres covered by this lease and included in the unit bears to the total number of surface acres in such unit. II.If the estate of either party hereto is assigned or sublet,and the privilege of assigning or subletting in whole or in part is expressly allowed,the express and implied covenants hereof shall extend to the sublessees,successors and assigns of the parties;and in the event of an assignment or subletting by lessee,lessee shall be relieved and discharged as to the leasehold rights so assigned or sublet from any liability to lessor thereafter accruing upon any of the covenants or conditions of this lease,either express or implied. No change in ownership of the land, royalties,or other payments,however accomplished,shall operate to enlarge the obligations or diminish the rights of lessee or require separate measuring or installation of separate tanks by lessee.Notwithstanding any actual or constructive knowledge of or notice to lessee,no change in ownership of said land or of the right to receive royalties or other payments hereunder,or of any interest therein,whether by reason of death,conveyance or any other matter, shall be binding on lessee(except at lessee's option in any particular case)until one hundred twenty(120)days after lessee has been furnished written notice thereof,and the supporting information hereinafter refuted to,by the party claiming as a result of such change in ownership or interest.Such notice shall be supported by original and certified copies of all documents and other instruments or proceedings necessary in lessee's opinion to establish the ownership of the claiming party. 12.In the event lessor considers that lessee has not complied with all its obligations hereunder,either express or implied,lessor shall notify lessee in writing,setting out specifically in what respects lessee has breached this lease.Lessee shall then have sixty(60)days after receipt of said notice within which to meet or commence to meet all or any part of the breaches alleged by lessor.The service of said notice shall be precedent to the bringing of any action by lessor on said lease for any cause,and no such action shall be brought until the lapse of sixty(60)days after service of such notice on lessee.Neither the service of said notice nor the doing of any acts by lessee aimed to meet all or any of the alleged breaches shall be deemed an admission or presumption that lessee has failed to perform all its obligations hereunder. 13.All express and implied covenants of this lease shall be subject to all federal and state,county or municipal laws,executive orders,rules and regulations,and lessee's obligations and covenants hereunder,whether express or implied,shall be suspended at the time or from time to time as compliance with such obligations and covenants is prevented or hindered by or is in conflict with federal,state,county,or municipal laws,rules,regulations or executive orders asserted as official by or under public authority claiming jurisdiction,or Act of God,adverse field, weather,or market conditions,inability to obtain materials in the open market or transportation thereof,wars, strikes,lockouts,riots,or other conditions or circumstances not wholly controlled by lessee,and this lease shall not be terminated in whole or in part,nor lessee held liable in damages for failure to comply with any such obligations or covenants if compliance therewith is prevented or hindered by or is in conflict with any of the foregoing • • 0 11011111111111111111111III01111111111III IIIII IIII IIII • 3208264 08/11/2004 03:06P Weld County,CO 4 of 4 R 21.00 D 0.00 Steve Moreno Clerk&Recorder eventualities The time during which lessee shall be prevented from conducting drilling or reworking operations during the primary term of this lease,under the contingencies above stated,shall be added to the primary term of this lease. 14.Lessor hereby agrees that lessee,at its option,shall have the right at any time to pay for lessor,any mortgage,taxes or other liens existing,levied or assessed on or against the above described lands in the event of default of payment by lessor and be subrogated to the rights of the holder thereof,and lessor hereby agrees that any such payments made by lessee for the lessor may be deducted from any amounts of money which may become due the lessor under the terms of this lease. 15.This lease and all its terms,conditions,and stipulations shall extend to and be binding on all successors in interest,in whole or in part,of said lessor or lessee. With respect to and for the purpose of this lease,lessor,and each of them if there be more than one,hereby release and waive the right of homestead. WHEREOF witness our hands as of the day and year first above written. et°rinuu t)....... Sherry Leaky yof4 eq; *OTA , a *; e•e• *s STATE OF COLORADQ ) ac p . ) ss. �sy�'. QBLI� ;q0 INDIVIDUAL COUNTY OF WELD ) • ". d $$'$q�d MNINa6WOma0e On this 6th day of July,2004,before me personally appeared Sherry Lawley to me known to be the person(s)described in,and who executed the foregoing instrument,and who acknowledged to me that she executed the same as • her free act and deed,including the release and waiver of the right of homestead. Given under my hand and seal this •(Z day of .Ter ,2004. My commission expires: Oo+,1,3 l IO07 • .\ 1 -Atilly Notary Public for the State of C 0 I 0CADD residing at 3g7?s tract 3 S Creptsi L.-[). 57ai • 1111111111111111111111111111fill IIIII 11111111 Ito 374 3288374 03/14/2006 03:44P Weld County, CO Linsley 044-4D • 1 of 2 R 11.00 0 0.00 Steve Moreno Clerk& Recorder PDC Lease No.763600 AFFIDAVIT OF PRODUCTION • WILLIAM D.GAINOR,of lawful age,being first duly sworn,deposes: I. That he is Land Manager of Petroleum Development Corporation,a Nevada corporation;and 2. Petroleum Development Corporation is the owner of an interest in the Oil and Gas Leases described on Exhibit"A"attached hereto and by this reference nude a part hereof;and 3. That said leases are for the term shown in said Exhibit"A"and as long thereafter as oil,gas, casinghead gas,casinghead gasoline,condensate,distillate, or any of the afore-mentioned is produced;and 4. That a well was drilled under the terms of said leases at the location shown on said Exhibit "A"and was completed as a producing well on or about the date shown in said Exhibit"A"; and 5. That this Affidavit is made for the purpose of giving notice of the continuance of said leases and is made pursuant to the following applicable statute: 1963 Colorado Revised Statutes,Section 118-113-6 PETROLEUM DEVELOPMENT CORPORATION III By__________r l & w William D.Gainor Land Manager STATE OF WEST VIRGINIA ) COUNTY OF HARRISON ) William D. Gainor, nd Manager of Petroleum Development Corporation appeared before me the_tiOrt day of 2005. Witness my hand and ofticial seal. C rd}-- - My Commission Expires: June 2,2009 Rita A. C rk Notary Public in and for the '•' "" "' State of West Virginia QFFICIAL SERI g Notary Public State of West Virginia �? RII�A A.O1.Altti Petroleum Development Corpswilt _ 103 East Main Sncet,-iox zF roridgeport,WV 2P33C My commission expires June 2,200e / a _ ./4�..1.At:v.>rfc: • EXHIBIT "A" • SUBJECT WELL: WELL NAME: Lawley 44-4D WELL LOCATION: T6N,R64W,Sec.4: SE4SE4 PRORATION UNIT: SE4SE4 TYPE OF WELL: CodeII DATE COMPLETED: 03-04-2005 LEASES: LEASE NUMBER: 763600 LEASE DATE: 07-06-2004 LESSOR: Shirley Lawley LESSEE: Petroleum Development Corporation RECORDING DATA: 3208264 PRIMARY TERM: 1 year LAND DESCRIPTION: T6N,R64W 6t6 PM,Sec.4: N2SE4,SE4SE4 Weld County,Colorado 11111111111111111111111 3268374 03/14/2005 03:44P Weld County, CO 2 of 2 R 11.00 D 0.00 Steve Moreno Clerk& Recorder INSTRUMENT PREPARED BY AND RETURN TO: Petroleum Development Corporation PO Box 26 Bridgeport,WV 26330 • .3_-_,§ 111111111filiii 111111111111111111101 11111111 liii liii 3268375 03/14/2005 03:44P Weld County, CO Lawley#43-4 • 1 of 2 R 11.00 0 0.00 Steve Moreno Clerk& Recorder PDC Lease No.763600 AFFIDAVIT OF PRODUCTION WILLIAM D.GAINOR, of lawful age,being first duly sworn,deposes: 1. That he is Land Manager of Petroleum Development Corporation,a Nevada corporation;and 2. Petroleum Development Corporation is the owner of an interest in the Oil and Gas Leases described on Exhibit"A"attached hereto and by this reference made a part hereof;and 3. That said leases are for the term shown in said Exhibit"A"and as long thereafter as oil,gas, casinghead gas,casinghead gasoline,condensate,distillate, or any of the afore-mentioned is produced;and 4. That a well was drilled under the terms of said leases at the location shown on said Exhibit "A"and was completed as a producing well on or about the date shown in said Exhibit"A"; and 5. That this Affidavit is made for the purpose of giving notice of the continuance of said leases and is made pursuant to the following applicable statute: 1963 Colorado Revised Statutes,Section 118-113-6 PETROLEUM DEVELOPMENT CORPORATION • By L(/yt.L`i.n.. G Ca,:,w William D. Gainor Land Manager STATE OF WEST VIRGINIA ) COUNTY OF HARRISON ) William ainor, Land Manager of Petroleum Development Corporation appeared before me the_/OM" day of O,.4._v_.h , 2005. Witness my hand and official seal. ,r�11�.�1`J��/)Cici) ,c.CZ-My Commission Expires: June 2,2009 Rita lark '(_ — - / Notary Public in and for the OFFICIAL SEAL State of West Virginia Notary Public, StateLARKet Virginia RITA A.Petroleum Development Corporation 103 East Main Street,Box 20 Bridgeport.WV 2033(' My commission expires dune 2 20(; / • II EXHIBff"A" • SUBJECT WELL: WELL NAME: Lawley 43-4 WELL LOCATION: T6N,R64W,Sec.4: NE4SE4 PRORATION UNIT: N2SE4 TYPE OF WELL: Codell DATE COMPLETED: 03-04-2005 LEASES: LEASE NUMBER: 763600 LEASE DATE: 07-06-2004 LESSOR: Shirley Lawley LESSEE: Petroleum Development Corporation RECORDING DATA: 3208264 PRIMARY TERM: 1 year LAND DESCRIPTION: T6N,R64W 6t6 PM,Sec.4: N2SE4,SE4SE4 • Weld County,Colorado INSTRUMENT PREPARED BY AND RETURN TO: Petroleum Development Corporation PO Boa 26 Bridgeport,WV 26330 Anil IIIII 111111111111 lilt Ell III 11111 IIII IIII • 2 01 2 R ThOU D 0.00 Sieve Moreno Clerk&Recorder 376 111111111111111111111111Minn 11111 IIII ill Lawley#37-4 • 3268376 03/14/2005 03:44P Weld County, CO PDC Lease No.763600 1 of 2 R 11.00 D 0.00 Steve Moreno Clerk& Recorder AFFIDAVIT OF PRODUCTION WILLIAM D.GAINOR, of lawful age,being first duly sworn,deposes: 1. That he is Land Manager of Petroleum Development Corporation,a Nevada corporation,and 2. Petroleum Development Corporation is the owner of an interest in the Oil and Gas Leases described on Exhibit"A"attached hereto and by this reference made a part hereof;and 3. That said leases are for the term shown in said Exhibit"A"and as long thereafter as oil,gas, casinghead gas, casinghead gasoline,condensate,distillate,or any of the afore-mentioned is produced;and 4. That a well was drilled under the terms of said leases at the location shown on said Exhibit "A"and was completed as a producing well on or about the date shown in said Exhibit"A"; and 5. That this Affidavit is made for the purpose of giving notice of the continuance of said leases and is made pursuant to the following applicable statute: 1963 Colorado Revised Statutes, Section 118-113-6 PETROLEUM DEVELOPMENT CORPORATION • By / 2 ll William D.Gainor Land Manager STATE OF WEST VIRGINIA ) COUNTY OF HARRISON William D. Gainor, and Manager of Petroleum Development Corporation appeared before me the Jot day of ,2005. Witness my hand and official seal. --` U -0415-- My Commission Expires: June 2,2009 rta A. lark Notary Public in and for the rawthOFFI B State of West Virginia asagiatistudian otary Publlll't s�arCLAmen Petroleum Develop Box 26 p, 03 East Min Zh330 Bridgeport'!"Expires Jung 2,2n0? �ycr • • • EXHIBIT"A" • SUBJECT WELL: WELL NAME: Lawley#33-4 WELL LOCATION: T6N,R64W,Sec.4: NW4SE4 PRORATION UNIT: N2SE4 TYPE OF WELL: Codell DATE COMPLETED: 03-04-2005 LEASES: LEASE NUMBER: 763600 LEASE DATE: 07-06-2004 LESSOR: Shirley Lawley LESSEE: Petroleum Development Corporation RECORDING DATA: 3208264 PRIMARY TERM: 1 year LAND DESCRIPTION: T6N,R64W 6th PM,Sec.4: N2SE4,SE4SE4 Weld County,Colorado • INSTRUMENT PREPARED BY AND RETURN TO: Petroleum Development Corporation PO Box 26 Bridgeport,WV 26330 I 1111111111111111111111111111111111111111111111111 • 1137: R 11.00 D0 O. Steve Moreno Clerk 8 Recorder 24 I 11111 MI 1111111M 11111111111 III 11111 lIII III{ 3228242 10/1812004 02:28P Weld County, CD 1 of 3 R 16.00 D 0.00 Steve Moreno Clerk 8 Recorder • SEGREGATION AGREEMENT THIS SEGREGATION AGREEMENT,effective the 1st date of production of the Erickson 34-4 well located in T6N-R64W,Section 4: SW/4SE/4,Weld County,Colorado,is by and between Sherry Lawley,26658 WCR 74,Eaton,CO 80515 and William E.Erickson,34695 WCR 53,Eaton,CO 80615. 1. BACKGROUND The South Half of the Southeast Quarter(S/2SE/4)of Section 4,Township 6 North,Range 64 West,6th P.M.,Weld County,Colorado.is currently subject to those Oil and Gas Leases (tease?)covering lands described on Exhibit A hereto INSOFAR AND ONLY INSOFAR as the Leases cover and affect those lands described on Exhibit"A". While the S/2SE/4 of Section 4 has been designated as a single spacing unit for the production of oil and gas from the Codell Niobrara formation,the royalty interest owners wish to formally segregate the SW/4SE/4 and the SE/4SE/4 into two separate working interest units.In so doing,the parties wish to ensure that the royalty interest owners receive Codell Niobrara production only from their respective 40-acre area. 2. SEGREGATION AGREEMENT Despite the designation of the S/2SE/4 as a single spacing unit for the production of oil and gas from the Codell Niobrara formation,the parties hereby agree that all production from the Codell Niobrara formation shall,as among themselves,their successors and assigns,be allocated and all costs and taxes borne,as though the SE/4SE/4 were a separate 40-acre unit,the leasehold interest of which is owned entirely by Lawley,and the S W/4NFA were a separate 40-acre unit,the leasehold interest of which is owned entirely by Erickson. S 3. PRODUCTION PURCHASER RELIANCE Any production purchaser shall be entitled to rely on this agreement,including any modification or amendment recorded in the real property records of Weld County, in determining ownership of production from wells drilled to the Codell Niobrara formation in the spacing unit. 4. BINDING EFFECT The terms,covenants and conditions hereof shall be binding upon,and • inure to the benefit of the patties hereto,their successors and assigns,and such terms,covenants and conditions shall be covenants running with the lands herein described and the leases herein described and with each transfer or assignment of said leases and lands. 5. COUNTERPARTS. This instrument may be executed in any number of counterparts,each of which shall be deemed an original,but all of which together shall constitute but one and the same document. IN WITNESS WHEREOF,this instrument is executed as of the dates shown in the acknowledgments,but effective the first date of production of the Erickson 34-4 Well located in T6N-R64W,Section 4: S W/4SE/4,Weld County,Colorado. ROYALTY INTEREST OWNERS any Lawley J "--'� William E.Enckson �Dc hs* 29590: • • zonlllnleppj attli $• •TA4.4 • STATE OF COLORADO ) _ �O TA$p .E�s • COUNTY OF WELD ) % B 'V'• PUMA° rot BEFORE ME,the undersigned,a N in and fop' ty and State,on this day of cell,b c{L ,2004,personally appeared S the within and foregoing instrument of her own free and voluntary act and deed. p�ppeWllnW4\uV My Commission Expires: � My Commission Expires October13th,200, otary lic 3a7a5 w �u235 . -4-uv. 1 (0 Bobr � STATE OF COLORADO ) )ss. COUNTY OF WELD ) BE TORE ME,the undersigned,a Notary Public,in and for said County and State,on this 2 9 day of c{P vtQ,2004,personally appeared William E.Erickson who executed the within and foregoing instrument of his own free and voluntary act and deed. My Commission Expires: My Commission Expires October tam,200F lie 3f2S- WC,V_ 3 S • C ATdv . IIIIIIIIIIIIIIIIIIIIIIIIIII NIIIIIIIIIIIIIIIII11 ++��n�>,�eWp� i111! 1. 0 3228242 10/18/2004 02:28P weld Coun tti_ 1aoTA$p ..4 2 of 3 R 18.00 D 0.00 Steve Moreno C k&Recorder ®* +• c' 5 m �° %.., AUBLLC rq. sits X11 lcio• �� • • 11111111N 11111111111I I I I II I I I 1111111I I I11111I I I11111 3228242 10/1812004 02:28P Weld County, CO • 3 of 3 R 16.00 0 0.00 Steve Moreno Clerk&Recorder EXHIBIT"A" Attached to and made a part of that certain Segregation Agreement dated effective the first date of production of the Erickson 34-4 Well between Sherry Lawley and William E.Erickson covering lands in Weld County,Colorado. LEASE I: Lessor Sherry Lawley J rap.—; Petroleum Development Corporation Dated: July 6,2004 Recorded: Reception#3208264 Lands: Township 6 North_Range 64 West.6th P.M.—Weld County,CO Section 4:SE/4SE4,N/2SE/4 J.F.ASF?. Lessor William E.Erickson Lessee: Petroleum Development Corporation Dated: February 10,2004 Recorded: Reception#3173745 Lands: Township 6 North.Range 64 West 6th P.M.—Weld County,CO Section 4:SW/LISP/4 • END OF EXHIBIT "A" • IN LandAmerica® • Sherry Lawley 26658 WCR 74 Eaton, CO 80615 Case No. TNWS0000939 • "WE'RE HERE TO MAKE IT EASY!" • LandAmerica 1295 Main Street, Bldg. 1 Windsor, CO 80550 Phone: 970-686-0867 Fax: 970-686-0883 I1 LandAmerica COMMITMENT NO.: TNWS0000939 PROPERTY: 0 • , CO SELLER: Sherry Lawley 1295 Main Street, Bldg. 1 BUYER: Windsor, CO 80550 PHONE: 970-686-0867 FAX: 970-686-0883 DATE: May 24, 2006 We appreciate the opportunity to be of service to you. Please contact the above if you have any questions concerning this transaction. SELLER(S): Sherry Lawley Phone: (970) 454-2468 26658 WCR 74 Eaton, CO 80615 • • c LandAmerica® • PRIVACY POLICY NOTICE Dear LandAmerica Customer: The Financial Services Modernization Act recently enacted by Congress has brought many changes to the financial services industry, which includes insurance companies and their agents. One of the changes is that we are now required to explain to our customers the ways in which we collect and use customer information. The statement attached to or on the reverse side of this letter is the privacy policy of the LandAmerica family of companies. The three largest members of the family - Commonwealth Land Title Insurance Company, Lawyers Title Insurance Corporation, and Transnation Title Insurance Company - may issue policies and handle real estate closings in virtually every part of the country. A number of other companies in the family provide other real estate services, and some operate more locally. You may review a list of LandAmerica companies on our website (www.landam.com). You may also visit our website for an explanation of our privacy practices relating to electronic communication. Our concern with the protection of your information has been a part of our business since 1876, • when the company that is now Commonwealth Land Title Insurance Company issued its first policy. We will continue to protect the privacy, accuracy, and security of customer information given to us. No response to this notice is required, but if you have questions, please write to us: LandAmerica Privacy P.O. Box 27567 Richmond, VA 23261-7567. LandAmerica Companies Title Insurance Companies: Commonwealth Land Title Insurance Company, Commonwealth Land Title Insurance Company of New Jersey, Industrial Valley Title Insurance Company, Land Title Insurance Company. Lawyers Title Insurance Corporation, Title Insurance Company of America, Transnation Title Insurance Company, Transnation Title Insurance Company of New York Relocation and Mortgages: Commonwealth Relocation Services, CRS Financial Services, Inc., LandAmerica Account Servicing, Inc. Title Agents: Austin Title Company, ATACO, Inc., Albuquerque Title Company, Atlantic Title & Abstract Company, Brighton Title Services Company, Capitol City Title Services, Inc., CFS Title Insurance Agency, Charleston Title Agency; Charter Title Company of Fort Bend, Galveston, and Sugarland; Commercial Settlements, Inc., Commonwealth Land Title Company; Commonwealth Land Title Company of Austin, Dallas, Fort Worth, Houston, Washington, Congress Abstract Corp., Cornerstone Residential Title, Cumberland Title Company, First Title & Escrow, Inc., Gulf Atlantic, Harbour Title, HL Title Agency, Lawyers Title Company; Lawyers Title of Arizona, El Paso, Galveston, Nevada, Pueblo, San Antonio, Lawyers Title Settlement Company, Lion Abstract, Longworth Insured, Louisville Title Agency of Central Ohio, Lorain County Title Company, M/I Title Agency, NIA7 Lawyers Title Agency, Oregon Title, Park Title, Partners Title Company, Pikes Peak Title Services, RE/Affirm Title Agency, Rainier Title Company, Residential Abstract, Residential Title, Rio Rancho Title, Texas Title Company, Title Transfer Service, Inc., TransOhio Residential Title Agency, Transnation Title & Escrow, Union Title Agency, University Title Services, Wilson Title Company Appraisals and Ancillary Services: LandAmerica OneStop, Inc. • LANDAMERICA PRIVACY POLICY What kinds of information we collect. Most of LandAmerica's business is title insurance, but there are companies in our family that provide other real estate services to consumers. We collect information about you, (for instance, your name, address, telephone number), and information about your transaction, including the identity of the real property that you are buying or financing. We obtain a copy of any deeds, notes, or mortgages that are involved in the transaction. We may get this information from you or from the lender, attorney, or real estate broker that you have chosen. Our title insurance companies then obtain information from the public records about the property so that we can prepare a title insurance policy. When we provide closing, escrow, or settlement services, mortgage lending, or mortgage loan servicing, we may get your social security number, and we may receive additional information from third parties including appraisals, credit reports, land surveys, escrow account balances, and sometimes bank account numbers to facilitate the transaction. If you are concerned about the information we have collected, please write to us. How we use this information. The company giving or specifically adopting this notice does not share your information with marketers outside its own family. There's no need to tell us to keep your information to ourselves because we share your information only to provide the service requested by you or your lender, or in other ways permitted by law. The privacy laws permit some sharing without your approval. We may share internally and with nonaffiliated third parties in order to carry out and service your transaction, to protect against fraud or unauthorized transactions, for institutional risk control, and to provide information to government and law enforcement agencies. Companies within a family may share certain information among themselves in order to identify and market their own • products that they think may be useful to you. Credit information about you is shared only to facilitate your transaction or for some other purpose permitted by law. How we protect your information. We restrict access to nonpublic personal information about you to those employees who need the information to provide products or services to you. We maintain physical, electronic, and procedural safeguards that comply with law to guard your nonpublic personal information. We reinforce the company's privacy policy with our employees. Agents that may be covered by this policy. Often, your transaction goes through a title insurance agent. Agents that are part of the LandAmerica family are covered by this policy. Agents that are not part of the LandAmerica family may specifically, in writing, adopt our policy statement. • • Transnation Title Insurance Company • COMMITMENT FOR TITLE INSURANCE Schedule A 1. Effective Date: May 16, 2006 at 7:00 am Commitment No.: TNWS0000939 2. Policies to be issued: Amount Proposed Insured: Informational Report 3. The estate or interest in the land described or referred to in this Commitment and covered herein is Fee Simple and Title to the estate or interest in the land is vested in: Sherry Lawley 4. The land referred to in this Commitment is described as follows: Lot B of Recorded Exemption No. 0801-4-4 RE-3581, recorded October 30, 2003 at Reception No. 3122192, being a part of the Southeast 1/4 of Section 4, Township 6 North, Range 64 West of the 6th P.M., County of Weld, State of Colorado. (Premiums and Fees: $750.00 Informational Report • NOTE: Based on the information provided for the application of this commitment, the premiums and fees stated herein represent the qualifying applicable filed rates and/or available discounted programs. Please contact us should you have any questions regarding any of these charges. Prepared By: Sean Stevens Commitment No. TNWS0000939 • SCHEDULE B - SECTION 1 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 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 Clerk and Recorder of the county in which said property is located. NOTE: Pursuant to Senate Bill 91-14 (C.R.S. 10-11-122) 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. NOTE: Effective September 1, 1997, 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 inch. The Clerk and Recorder may refuse to record or file any document that does not conform. NOTE: This commitment has been issued for information purposes only and there are no requirements. The liability of the Company in terms of this Commitment is limited to the charges paid for the Commitment. • • • • • Commitment No. TNWS0000939 • SCHEDULE B - SECTION 2 EXCEPTIONS The Policy or Policies to be issued will contain exceptions to the following unless the same are disposed of to the satisfaction of the Company: 1. Rights or claims of parties in possession not shown by the public records. 2. Easements, or claims of easements, not shown by the public records. 3. Discrepancies, conflicts in boundary lines, shortage in area, encroachments and any facts which a correct survey and inspection of the premises would disclose and which are 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. Any and all unpaid taxes and assessments. 6. Any interest which may have been acquired by the public in the 30 feet of subject property by reason of resolution of Board of County Commissioners recorded October 14, 1889 in Book 86 at Page 273, which provides for public roads 30 feet on each side of section lines on the public domain. 7. Reservation of right of way for any ditches or canals constructed by authority of the United States, in U.S. Patent recorded February 16, 1921 in Book 511 at Page 488. •. Terms, agreements, provisions, conditions, obligations and easements as contained in Right-of- Way and Easement Agreement, recorded July 22, 2002 at Reception No. 2970917. 9. Terms, agreements, provisions, conditions, obligations, nazarenus lateral ditch and easements as contained in Recorded Exemption No. 0801-4-4 RE-3581, recorded October 30, 2003 at Reception No. 3122192. 10. Oil and gas lease between Sherry Lawley and Petroleum Development Corporation recorded August 11, 2004 at Reception No. 3208264, and any interests therein or rights thereunder. NOTE: Extension of the above lease as claimed by affidavit of Production, pursuant to C.R.S. 38- 42-106, by Petroleum Development Corporation, a Nevada corporation, recorded March 14, 2005 at Reception No. 3268374. NOTE: Extension of the above lease as claimed by affidavit of Production, pursuant to C.R.S. 38- 42-106, by Petroleum Development Corporation, a Nevada corporation, recorded March 14, 2005 at Reception No. 3268375. NOTE: Extension of the above lease as claimed by affidavit of Production, pursuant to C.R.S. 38- 42-106, by Petroleum Development Corporation, a Nevada corporation, recorded March 14, 2005 at Reception No. 3268376. 11. Terms, agreements, provisions, conditions, obligations and easements as contained in Segregation Agreement, recorded October 18, 2004 at Reception No. 3228242. • Commitment No. TNWS0000939 OTE: e following notices pursuant to C.R.S. 9-1.5-103 concerning underground facilities have been filed with the Clerk and Recorder. These statements are general and do not necessarily give notice of underground facilities within the property. (a) Mountain Bell Telephone Company, recorded October 1, 1981 in Book 949 at Reception No. 1870705. (b) Colorado Interstate Gas Company, recorded August 31, 1984 in Book 1041 at Reception No. 1979784. (c) Associated Natural Gas, Inc., recorded April 10, 1989 in Book 1229 at Reception No. 2175917. NOTE: Pursuant to C.R.S. 10-11-122 notice is hereby given that: (A) The subject 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 or the County Treasurer's authorized agent; (C) INFORMATION regarding special districts and the boundaries of such districts may be obtained from the Board of County Commissioners, the County Clerk and Recorder, or the County Assessor. NOTE: If Schedule B of your commitment for an owner's title policy reflects an exception for mineral interest or leases, pursuant to C.R.S. 10-11-123 (HB 01-1088), this is to advise: (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. • • • Issued by Transnation Title Insurance Company • COMMITMENT FOR TITLE INSURANCE fi\ LandAmerica Transnation Transnation Title Insurance Company,an Arizona corporation,herein called the Company, for a valuable consideration,hereby commits to issue its policy or policies of title insurance,as identified in Schedule A,in favor of the proposed Insured named in Schedule A,as owner or mortgagee of the estate or interest covered hereby in the land described or referred to in Schedule A, upon payment of the premiums and charges therefor; all subject to the provisions of Schedules A and B and to the Conditions and Stipulations hereof. 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 hereof by the Company,either at the time of the issuance of this Commitment or by subsequent endorsement. This Commitment is preliminary to the issuance of such policy or policies of title insurance and all liability and obligations hereunder shall cease and terminate six(6)months after the effective date hereof or when the policy or policies committed for shall be issued,whichever first occurs,provided that the failure to issue such policy or policies is not the fault of the Company. This Commitment shall not be valid or binding until countersigned by an authorized officer or agent. IN WITNESS WHEREOF, Transnation Title Insurance Company has caused its corporate name and seal to be hereunto affixed by its duly authorized officers,this Commitment to become valid when countersigned by an authorized officer or agent of the Company. y Transnation Title Insurance Company Attest: I A>. p�EE INSUgyr By: '�.�+—,j, . �( CA..-.64 Vl tVw v 4 i l ottotgto p ISecretary scut u,nrt President EXCLUSIONS FROM COVERAGE I. The term mortgage,when used herein,shall include deed of trust,trust deed,or other security instrument. 2. If the proposed Insured has or acquired actual knowledge of any defect,lien,encumbrance,adverse claim or other matter affecting the estate or interest or mortgage thereon covered by this Commitment other than those shown in Schedule B hereof, and shall fail to disclose such knowledge to the Company in writing, the Company shall be relieved from liability for any loss or damage resulting from any act of reliance hereon to the extent the Company is prejudiced by failure to so disclose such knowledge. If the proposed Insured shall disclose such knowledge to the Company, or if the Company otherwise acquires actual knowledge of any such defect, lien, encumbrance, adverse claim or other matter, the Company at its option may amend Schedule B of this Commitment accordingly,but such amendment shall not relieve the Company from liability previously incurred pursuant to paragraph 3 of these Conditions and Stipulations. 3. Liability of the Company under this Commitment shall be only to the named proposed Insured and such parties included under the definition of Insured in the form of policy or policies committed for and only for actual loss incurred in reliance hereon in undertaking in good faith(a)to comply with the requirements hereof,or(b)to eliminate exceptions shown in Schedule B,or(c)to acquire or create the estate or interest or mortgage thereon covered by this Commitment. In no event shall such liability exceed the amount stated in Schedule A for the policy or policies committed for and such liability is subject to the insuring provisions and Conditions and Stipulations and the Exclusions from Coverage of the form of policy or policies committed for in favor of the proposed Insured which are hereby incorporated by reference and are made a part of this Commitment except as expressly modified herein. 4. Any action or actions or rights of action that the proposed Insured may have or may bring against the Company arising out of the status of the title to the estate or interest or the status of the mortgage thereon covered by this Commitment must be based on and are subject to the provisions of this Commitment. • ALTA Commitment 1966 • • • Transnation Title Insurance Company NOTICE TO PROSPECTIVE INSURED OWNER: Re: Mechanic's Lien and Gap Protection This is to advise that Transnation Title Insurance Company makes available to its prospective insured owners, in conjunction with their Transnation Title Insurance Company policy covering a single family residence, including a condominium or townhouse unit, protection against mechanic's liens. This protection is not automatic nor given in all cases, but is subject to the Company's Underwriting requirements, and does not cover those liens which arise out of work contracted for or entered into at the request of the insured owner. These underwriting requirements include, but may not be limited to, the following: 1. Receipt by the Company of agreement(s) indemnifying it for any loss resulting from its granting of lien protection, executed by the seller, contractor or others who might have incurred debts which could result in mechanic's liens; 2. Information concerning the solvency and whereabouts of the parties set forth in Item No. 1, possibly including financial statements; 3. Evidence of payment of any bills which might have been incurred for work done on the property, depending upon the length of time elapsed since the last work was completed and what remains to be done; 4. In the event of extensive recent construction, whether on all of the improvements upon the property or not, additional items required may include: (a) the Company's review of the owner's and/or builder's history relative to construction projects previously completed or presently under construction; (b) review of the construction loan agreement, if applicable; (c) review of any performance or materialmen's bonds concerning this construction, if applicable; (d) payment of the appropriate charge for mechanic's lien protection during construction, if applicable. This is also to advise that, pursuant to Regulation of the Colorado Insurance Commissioner, every title entity shall be responsible for all matters which appear of record prior to the time of recording, and subsequent to the effective date of the commitment, whenever the title entity conducts the closing and is responsible for recording or filing of legal documents resulting from the transaction which was closed. This does not include those matters created, suffered, assumed or agreed to by the insured. The prospective insured is advised to inquire of the closing entity as to whether it is an office of Transnation Title Insurance Company, or is an independent agent which will be the responsible entity relative to the closing only. S Hello