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Home My WebLink About20011619.tiff TRANSNATION TITLE INSURANCE COMPANY 1295 Main St . Windsor, CO 80550 Board of Weld County Commissioners 9115 10 Street Greeley, CO 80631 Attn: Don Warden Order No. 8051298W May 30, 2001 RE : 901-909 10th Ave & 1002 9th Street In connection with the above matter, we are enclosing herewith the following: Owners Policy We are pleased to have the opportunity to be of service . 47(462.°1-÷14--A /I _ /g'-© / 2001-1619 PRcbaa ISSUED BY TRANSNATION TITLE INSURANCE COMPANY OWNER'S POLICY OF TITLE INSURANCE Transnation A LANDAMERICA COMPANY SUBJECT TO THE EXCLUSIONS FROM COVERAGE,THE EXCEPTIONS FROM COVERAGE CONTAINED IN SCHEDULE B AND THE CONDITIONS AND STIPULATIONS,TRANSNATION TITLE INSURANCE COMPANY,an Arizona corporation,herein called the Company, insures, as of Date of Policy shown in Schedule A, against loss or damage, not exceeding the Amount of Insurance stated in Schedule A,sustained or incurred by the insured by reason of: I. Title to the estate or interest described in Schedule A being vested other than as stated therein; 2. Any defect in or lien or encumbrance on the title; 3. Unmarketability of the title; 4. Lack of a right of access to and from the land. The Company will also pay the costs,attorneys' fees and expenses incurred in defense of the title, as insured,but only to the extent provided in the Conditions and Stipulations. IN WITNESS WHEREOF,TRANSNATION TITLE INSURANCE COMPANY has caused its corporate name and seal to be hereunto affixed by its duly authorized officers,the Policy to become valid when countersigned by an authorized officer or agent of the Company. TRANSNATION TITLE INSURANCE COMPANY `o��k3EE l NSUA4 jet x,t.ovoe1rta c Attest: a ,, r SEPT 16,in < By: C1(,,,t- 0 . nr_ fi^ Secretary 4liio k President EXCLUSIONS FROM COVERAGE The following matters are expressly excluded from the coverage of this policy and the Company will not pay loss or damage,costs,attorneys' fees or expenses which arise by reason of: I. (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 improve- ment 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 affect of any violation of these laws,ordinances or governmental regula- tions, except to the extent that a notice of the enforcement 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. (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: (a) the transaction creating the estate or interest insured by this policy being deemed a fraudulent conveyance or fraudulent transfer; or (b)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: (i) to timely record the instrument of transfer; or (ii) of such recordation to impart notice to a purchaser for value or a judgment or lien creditor. L I 1 NM 1 PA10 Valid only if Schedules A and B and Cover are attached ALTA Owners Policy(10/17/92) Face Page Form 1190-56A ORIGINAL CONDITIONS AND STIPULATIONS • 1. DEFINITION OF TERMS. (c) Whenever the Company shall have brought an action or interposed a defense as required or permitted by the provisions of this policy, the The following terms when used in this policy mean: Company may pursue any litigation to final determination by a court of competent jurisdiction and expressly reserves the right,in its sole discretion, (a) "insured": the insured named in Schedule A, and, subject to any to appeal from any adverse judgment or order. rights or defenses the Company would have had against the named insured, those who succeed to the interest of the named insured by operation of law (d) In all cases where this policy permits or requires the Company to as distinguished from purchase including, but not limited to, heirs, prosecute or provide for the defense of any action or proceeding, the distributees, devisees, survivors, personal representatives, next of kin, or insured shall secure to the Company the right to so prosecute or provide corporate or fiduciary successors. defense in the action or proceeding, and all appeals therein, and permit the (b) "insured claimant": an insured claiming loss or damage. Company to use, at its option, the name of the insured for this purpose. Whenever requested by the Company, the insured, at the Company's (c) "knowledge" or "known": actual knowledge, not constructive expense, shall give the Company all reasonable aid (i) in any action or knowledge or notice which may be imputed to an insured by reason of the proceeding, securing evidence, obtaining witnesses, prosecuting or public records as defined in this policy or any other records which impart defending the action or proceeding, or effecting settlement, and (ii) in any constructive notice of matters affecting the land. other lawful act which in the opinion of the Company may he necessary or (d) "land": the land described or referred to in Schedule A, and desirable to establish the title to the estate or interest as insured. If the improvements affixed thereto which by law constitute real property. The Company is prejudiced by the failure of the insured to furnish the required term "land" does not include any property beyond the lines of the area cooperation, the Company's obligations to the insured under the policy described or referred to in Schedule A, nor any right , title, interest, estate shall terminate,including any liability or obligation to defend, prosecute, or or easement in abutting streets, roads, avenues, alleys, lanes, ways or continue any litigation, with regard to the matter or matters requiring such waterways, but nothing herein shall modify or limit the extent to which a cooperation. right of access to and from the land is insured by this policy. 5. PROOF OF LOSS OR DAMAGE. (e) "mortgage": mortgage, deed of trust, trust deed, or other security In addition to and after the notices required under Section 3 of these instrument. Conditions and Stipulations have been provided the Company, a proof of (f) "public records": records established under state statutes at Date of loss or damage signed and sworn to by the insured claimant shall be Policy for the purpose of imparting constructive notice of matters relating furnished to the Company within 90 days after the insured claimant shall ascertain the to real property to purchasers for value and without knowledge. With facts giving rise to the loss or damage. The proof of loss or respect to Section 1(a) (iv) of the Exclusions From Coverage, "public damage shall describe the defect in, or lien or encumbrance on the title, or records" shall also include environmental protection liens filed in the other matter insured against by this policy which constitutes the basis of records of the clerk of the United States district court for the district in loss or damage and shall state, to the extent possible, the basis of which the land is located. calculating the amount of the loss or damage. If the Company is prejudiced by the failure of the insured claimant to provide the required proof of loss (g) "unmarketability of the title": an alleged or apparent matter affecting or damage, the Company's obligations to the insured under the policy shall the title to the land, not excluded or excepted from coverage, which would terminate, including any liability or obligation to defend, prosecute, or entitle a purchaser of the estate or interest described in Schedule A to he continue any litigation, with regard to the matter or matters requiring such released from the obligation to purchase by virtue of a contractual proof of loss or damage. condition requiring the delivery of marketable title. In addition, the insured claimant may reasonably be required to submit 2. CONTINUATION OF INSURANCE AFTER CONVEYANCE to examination under oath by any authorized representative of the OF TITLE. Company and shall produce for examination, inspection and copying, at such reasonable times and places as may be designated by any authorized The coverage of this policy shall continue in force as of Date of Policy in representative of the Company, all records, books. ledgers. checks, favor of an insured only so long as the insured retains an estate or interest correspondence and memoranda, whether bearing a date before or after in the land, or holds an indebtedness secured by a purchase money Date of Policy, which reasonably pertain to the loss or damage. Further, if mortgage given by a purchaser from the insured, or only so long as the requested by any authorized representative of the Company . the insured insured shall have liability by reason of covenants of warranty made by the claimant shall grant its permission, in writing, for any authorized insured in any transfer or conveyance of the estate or interest. This policy representative of the Company to examine , inspect and copy all records. shall not continue in force in favor of any purchaser from the insured of books, ledgers, checks, correspondence and memoranda in the custody or either(i)an estate or interest in the land, or (ii)an indebtedness secured by control of a third party, which reasonably pertain to the loss or damage a purchase money mortgage given to the insured. All information designated as confidential by the insured claimant provided to the Company pursuant to this Section shall not be disclosed to others 3. NOTICE OF CLAIM TO BE GIVEN BY INSURED CLAIMANT. unless, in the reasonable judgement of the Company, it is necessary in the The insured shall notify the Company promptly in writing (i) in case of administration of the claim. Failure of the insured claimant to submit for any litigation as set forth in Section 4(a) below, (ii) in case knowledge shall examination under oath, produce other y requested information t or grant permission secure shall r information from third come e insured hereunder of in claim of title or interest hwhich is parties y required t in this i stoparagraph terminate any liability of the adverse to s the title a the h interest as insured, l which virtue might Company under this policy as to that claim. cause loss or damage for which the Company may be liable by vue of this policy, or (iii) if title to the estate or interest, as insured, is rejected as 6. OPTIONS TO PAY OR OTHERWISE SETTLE CLAIMS; unmarketable. If prompt notice shall not be given to the Company, then as TERMINATION OF LIABILITY. to the insured all liability of the Company shall terminate with regard to In case of a claim under this policy, the Company shall have the following the matter or matters for which prompt notice is required: provided, however, that failure to notify the Company shall in no case prejudice the additional options: rights of any insured under this policy unless the Company shall be (a)To Pay or Tender Payment of the Amount of Insurance. prejudiced by the failure and then only to the extent of the prejudice. To pay or tender payment of the amount of insurance under this policy together 4. DEFENSE AND PROSECUTION OF ACTIONS; DUTY OF with any costs,attorneys'fees and expenses incurred by the insured claimant,which INSURED CLAIMANT TO COOPERATE. were authorized by the Company,up to the time of payment or tender of payment and which the Company is obligated to pay. (a) Upon written request by the insured and subject to the options Upon the exercise by the Company of this option,all liability and obligations to contained in Section 6 of these Conditions and Stipulations, the Company, the insured under this policy, other than to make the payment required, shall at its own cost and without unreasonable delay, shall provide for the terminate,including any liability or obligation to defend,prosecute,or continue defense of an insured in litigation in which any third party asserts a claim any litigation,and the policy shall be surrendered to the Company for cancellation. adverse to the title or interest as insured, but only as to those stated causes of action alleging a defect, lien or encumbrance or other matter insured (b)To Pay or Otherwise Settle With Parties Other than the Insured or against by this policy. The Company shall have the right to select counsel With the Insured Claimant. of its choice (subject to the right of the insured to object for reasonable (i) to pay or otherwise settle with other parties for or in the name cause) to represent the insured as to those stated causes of action and shall of an insured claimant any claim insured against under this policy, together not be liable for and will not pay the fees of any other counsel. The with any costs. attorneys' fees and expenses incurred by the insured Company will not pay any fees, costs or expenses incurred by the insured claimant which were authorized by the Company up to time of payment in the defense of those causes of action which allege matters not insured and which the Company is obligated to pay; or against by this policy. (ii) to pay or otherwise settle with the insured claimant the loss or damage provided for under this policy, together with any costs, attorneys' (b) The Company shall have the right, at its own cost, to institute and fees and expenses incurred by the insured claimant which were authorized prosecute any action or proceeding or to do any other act which in its by the Company up to the time of payment and which the Company is opinion may be necessary or desirable to establish the title to the estate or obligated to pay. interest, as insured, or to prevent or reduce loss or damage to the insured. Upon the exercise by the Company of either of the options provided for The Company may take any appropriate action under the terms of this in paragraphs (b)(i) or (ii), the Company's obligations to the insured under policy, whether or not it shall be liable hereunder, and shall not thereby this policy for the claimed loss or damage. other than the payments concede liability or waive any provision of this policy. If the Company required to be made,shall terminate, including any liability or obligation to shall exercise its rights under this paragraph, it shall do so diligently. defend, prosecute or continue any litigation. 'Conditions and Stipulations Continued inside Cover B 1190-56A CONTROL NO. A 3 1- 0 010 8 21 TRANSNATION TITLE INSURANCE COMPANY POLICY OF TITLE INSURANCE SCHEDULE A Amount of Insurance: $ 326, 500 . 00 Policy No. : 8051298W Date of Policy: March 12, 2001 at 7 : 00 A.M. 1 . Name of Insured: Weld County, a body Corporate and Politic of the State of Colorado 2 . The estate or interest in the land described herein and which is covered by this policy is: FEE SIMPLE 3 . The estate or interest referred to herein is at Date of Policy vested in: Weld County, a body Corporate and Politic of the State of Colorado 4 . The land referred to in this Policy is described as follows: Lots 1, 2, 3 and 4, Block 66, in the City of Greeley, County of Weld, State of Colorado TRANSNATION TITLE INSURANCE COMPANY Policy No. : 8051298W SCHEDULE B This Policy does not insure against loss or damage by reason of 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 .in 3 . cohets, conflicts factsbwhichra correctssurveyeand area, encroachments,h and any of the premises would disclose and which are not shown by the public records. 4 . Any lien, or right to a lien, for services, labo or ordmaterial by heretofore or hereafter furnished, imposed by law the public records. 5 . Taxes due and payable; and any tax, special assessments, charge or lien imposed for water or sewer service, or for any other special taxing district . Page 2 1 i • I • A WORD OF THANKS As we make your policy a part of our permanent records, we want to express our appreciation of this evidence of your faith in Transnation Title Insurance Company. OWNER'S POLICY There is no recurring premium. I OF TITLE INSURANCE This policy provides valuable title protection and 1 r_ , _ (10_1'7_92) we suggest you keep it in a safe place where it i will be readily available for future reference. I I If you have any questions about the protection AMERICAN LAND TITLE ASSOCIATION issued by this policy, contact the office that issued your policy or you may write to: ! _ Consumer Affairs Department Transnation '. Title Insurance Company .. L1i1 P.O. Box 27567 , ISSUED BY Richmond, Virginia 23261.7567 11J TwwsNATION TIRE INSURANCE COMPANY TOLL FREE NUMBER: 1-800-446-7086 Transnation A CANI,AMFRICA COMPANY rl• HOME OFFICE: I 101 Gateway Centre Parkway,Gateway One 3 1 Richmond, Virginia 23235-5153 I 1 - �`_, B 1190-58 t I • 18054 CONDITIONS AND STIPULATIONS • • (Continued) 7. DETERMINATION, EXTENT OF LIABILITY AND COINSURANCE. (b) When liability and the extent of loss or damage has been definitely This policy is a contract of indemnity against actual monetary loss or fixed in accordance with these Conditions and Stipulations, the loss or damage sustained or incurred by the insured claimant who has suffered loss damage shall be payable within 30 days thereafter. or damage by reason of matters insured against by this policy and only to 13. SUBROGATION UPON PAYMENT OR SETTLEMENT. the extent herein described. (a) The liability of the Company under this policy shall not exceed the (a)The Company's Right of Subrogation. least of: Whenever the Company shall have settled and paid a claim under this (i) the Amount of Insurance stated in Schedule A; or, policy, all right of subrogation shall vest in the Company unaffected by any act of the insured claimant. (ii) the difference between the value of the insured estate or interest as The Company shall be subrogated to and be entitled to all rights and insured and the value of the insured estate or interest subject to the defect, remedies which the insured claimant would have had against any person or hen or encumbrance insured against by this policy. property in respect to the claim had this policy not been issued. If (b) In the event the Amount of Insurance stated in Schedule A at the requested by the Company, the insured claimant shall transfer to the Date of Policy is less than 80 percent of the value of the insured estate or Company all rights and remedies against any person or property necessary interest or the full consideration paid for the land, whichever is less, or if in order to perfect this right of subrogation. The insured claimant shall subsequent to the Date of Policy an improvement is erected on the land permit the Company to sue, compromise or settle in the name of the which increases the value of the insured estate or interest by at least 20 insured claimant and to use the name of the insured claimant in any percent over the Amount of Insurance stated in Schedule A, then this transaction or litigation involving these rights or remedies. Policy is subject to the following: If a payment on account of a claim does not fully cover the loss of the (i) where no subsequent improvement has been made, as to any partial insured claimant, the Company shall he subrogated to these rights and loss, the Company shall only pay the loss pro rata in the proportion that remedies in the proportion which the Company's payment bears to the the amount of insurance at Date of Policy bears to the total value of the whole amount of the loss. insured estate or interest at Date of Policy; or If loss should result from any act of the insured claimant, as stated (ii) where a subsequent improvement has been made, as to any partial above, that act shall not void this policy, but the Company, in that event, loss, the Company shall only pay the loss pro rata in the proportion that shall be required to pay only that part of any losses insured against by this 120 percent of the Amount of Insurance stated in Schedule A bears to the policy which shall exceed the amount, if any, lost to the Company by sum of the Amount of Insurance stated in Schedule A and the amount reason of the impairment by the insured claimant of the Company's right expended for the improvement. of subrogation. The provisions of this paragraph shall not apply to costs, attorneys' fees (b) The Company's Rights Against Non-insured Obligors. and expenses for which the Company is liable under this policy, and shall The Company's right of subrogation against non-insured obligors shall only apply to that portion of any loss which exceeds, in the aggregate, 10 exist and shall include, without limitation, the rights of the insured to percent of the Amount of Insurance stated in Schedule A. indemnities, guaranties, other policies of insurance or bonds, (c) The Company will pay only those costs, attorneys' fees and expenses notwithstanding any terms or conditions contained in those instruments incurred in accordance with Section 4 of these Conditions and Stipulations. which provide for subrogation rights by reason of this policy 8. APPORTIONMENT. 10. ARBITRATION If the land described in Schedule A consists of two or more parcels Unlessprohibited h which are not used as a single site, and a loss is established affecting one or by applicable law, either the Company or the insured more of the parcels but not all, the loss shall be computed and settled on a may demand arbitration pursuant to the Title Insurance Arbitration Rules pro rata basis as if the amount of insurance under this policy was divided of the American Arbitration Association. Arbitrable matters may include, pro rata as to the value on Date of Policy of each separate parcel to the but are not limited to, any controversy or claim between the Company and whole, exclusive of an imp rovements made suhse uent to Date of Polic the insured arising out of or relating to this policy, any service of the y P q e' Company in connection with its issuance or the breach of a ohc unless aopliability andr value insured ns at otherwise in been of the issuance upon as to each policyrcel rovision or other obli anon- All arbi trahte matters when the Amount of by the Company the at the time of issuance of this policy insurance is$1,000.000 or less shall be arbitrated at the option of either the and shown by an express statement or by an endorsement attached to this Company or the insured. All arbitrable matters when the Amount of policy. Insurance is in excess of$1,000,000 shall be arbitrated only when agreed to 9. LIMITATION OF LIABILITY. by both the Company and the insured. Arbitration pursuant to this policy (a) If the Company establishes the title, or removes the alleged defect and under the Rules in effect on the date the demand for arbitration is lien or encumbrance, or cures the lack of a right of access to or from the made or, at the option ofhe the insured, the Rules in inclu at Date of Policy land, or cures the claim of unmarketability of title, all as insured, in a shall be binding upon line parties. The award may include attorneys' fees reasonably diligent manner by any method, including litigation and the only if the laws of the state in which the land is located permit a court to completion of any appeals therefrom, it shall have fully performed its award attorneys' fees to a prevailing party. Judgment upon the award obligations with respect to that matter and shall not be liable for any loss rendered by the Arbitrator(s) may be entered in any court having or damage caused thereby. jurisdiction thereof (b) In the event of an litigation, indudin litigation by the Com an The law of the situs of the land shall apply to an arbitration under the or with the Company's conse t, the Company shall have no liability for Title Insurance Arbitration Rules. loss or damage until there has been a final determination by a court of A copy of the Rules may be obtained from the Company upon request. competent jurisdiction, and disposition of all appeals therefrom, adverse to 15. LIABILITY LIMITED TO THIS POLICY; POLICY ENTIRE the title as insured. (c)The Company shall not be liable for loss or damage to any insured CONTRACT. for liability voluntarily assumed by the insured in settling any claim or suit (a) This policy together with all endorsements, if any, attached hereto without the prior written consent of the Company. by the Company is the entire policy and contract between the insured and 10. REDUCTION OF INSURANCE; REDUCTION OR TERMINATION the Company. In interpreting any provision of this policy, this policy shall be construed as a whole. OF LIABILITY. (b) Any claim of loss or damage, whether or not based on negligence, All payments under this policy, except payments made for costs, and which arises out of the status of the title to the estate or interest attorneys' fees and expenses, shall reduce the amount of the insurance pro covered hereby or by any action asserting such claim, shall be restricted to tanto, this policy. 11. LIABILITY NONCUMULATIVE (c) No amendment of or endorsement to this policy can be made except by a writing endorsed hereon or attached hereto signed by either the It is expressly understood that the amount of insurance under this President, a Vice President, the Secretary, an Assistant Secretary, or policy shall be reduced by any amount the Company may pay under any validating officer or authorized signatory of the Company. policy insuring a mortgage to which exception is taken in Schedule B or to 16. SEVERABILITY. which the insured has agreed, assumed, or taken subject, or which is In the event any provision of the policy is held invalid or unenforceable hereafter executed by an insured and which is a charge or lien on the estate or interest described or referred to in Schedule A, and the amount sionund andr all of applicable law,vtine policy shall remainbe deemed not to include that provi- sion other provisions shall in full force and effect. so paid shall be deemed a payment under this policy to the insured owner. 17. NOTICES, WHERE SENT. 12. PAYMENT OF LOSS. All notices required to be given the Company and any statement in writing (a)No payment shall be made without producing this policy for endorsement required to be furnished the Company shall include the number of this of the payment unless the policy has been lost or destroyed,in which case proof of loss or destruction shall be furnished to the satisfaction of the Company. policy and shall be addressed to: Consumer Affairs Department,P.O.Box NM 1 PA 10 27567,Richmond,Virginia 23261-7567. ALTA Owner's Policy(10-17-92) r 1190-58 1e Valid Only If Face Page, Schedules A and B Are Attached Form ORIGINAL g • Hello