HomeMy WebLinkAbout861429.tiff AR2045663
RESOLUTION
RE: AUTHORIZATION OF CHAIRMAN' S SIGNATURE ON NON-MERGER AGREEMENT
AND ON SETTLEMENT STATEMENT FOR PURCHASE OF PROPERTY FROM
MRS. LEO K. WARDMAN
WHEREAS, the Board of County Commissioners of Weld County,
Colorado, pursuant to Colorado statute and the Weld County Home
Rule Charter, is vested with the authority of administering the
affairs of Weld County, Colorado, and
WHEREAS, Weld County, Colorado, by and through the Board of
County Commissioners of the County of Weld, entered into an
agreement to purchase certain property in Rockport, Colorado, from
v0 Mrs. Leo K. Wardman, on July 29 , 1985 , and
WHEREAS , in order to close said transaction, Mrs. Wardman has
U asked that the Chairman sign an Agreement for Non-merger Following
o Signing of Warranty Deed, which is attached hereto and is made a
o w part hereof by reference as Exhibit "I , " and
o
o PC WHEREAS, in order to close said transaction, the Chairman is
`" q also required to sign the Statement of Settlement which is
• attached hereto and made a part hereof by reference as Exhibit
U "II" .
rD;
N NOW, THEREFORE, be it resolved by the Board of County
Commissioners of the County of Weld, Colorado, that the Chairman
a is hereby authorized to sign the two (2) documents which are
N attached hereto and are referred to as Exhibits "I" and "II" .
La
coU
oz The above and foregoing Resolution was, upon motion duly made
H H and seconded, adopted by the following vote on the 3rd day of
ME-, March, A.D. , 1986.
0 CO
W � 1n ../.- BOARD OF COUNTY COMMISSIONERS
tow ATTEST: r A ; , T2.UAM/..�� WELD COUNTY, COLORADO
to rt4
oz Weld Coisekt
f %.:; Recorder
wF - .d Cler. . • ' - Br:,t J cqu ' n son - Chairman
o r,
- i
Re ty IC -rk Go c , o-Tem
r +_
Lrl
o APPROV S_JII
`i - ene R. Brantner
co a i[r�
County Atto ney
C. 4; irby
RECORDER'S MEMORANDUM /
AT THE TIME OF RECORDATION, THIS IN- /ler7
/�
STRUMENT WAS FOUND TO BE INADEQUATE r nk Yama hi
FOR THE BEST PHOTOGRAPHIC REPRODUCTION
BECAUSE OF ILLEGIBILITY, CARBON OR PHOTO
COPT. DISCOLORED PAPER. ETC 861429
I
EXHIBIT "I"
B 1105 REC 02045663 03/10/86 14: 57 $0. 00 2/014
F 1566 MARY ANN FEUERSTEIN CLERK & RECORDER WELD CO, CO
AGREEMENT FOR NON-MERGER
FOLLOWING SIGNING OF WARRANTY DEED
THIS AGREEMENT for Non-Merger, made at Greeley, Colorado,
this 5th day of March , 1986 , by and between Weld
County, Colorado, by and through the Board of County Commissioners
of the County of Weld, Colorado, parties of the first part,
hereinafter referred to as "Purchaser, " and Mrs. Leo K. Wardman,
62001 Highway 85 - CR 126 , Rockport, Colorado, party of the second
part, hereinafter referred to as "Seller. "
WITNESSETH:
That in consideration of the premises, covenants and
agreements of the parties hereto, and specifically in
consideration of the signing of the Warranty Deed, a copy of which
is attached hereto and referred to herein as Attachment "1 , " the
parties hereto wish to make this agreement pertaining to the real
estate contract dated July 29 , 1985 , between the parties hereto, a
copy of which is attached hereto and is referred to herein as
Attachment "2. "
This Agreement pertains to the following described land and real
estates situated in the County of Weld, State of Colorado,
described as follows , to wit:
Lot A of Recorded Exemption No. 0203-29-1-RE823
recorded January 31 , 1986 , in Book 1101 as
Reception No. 2041280 , being a part of the
following described property: That portion of the
NE4 of Section 29 , Township 11 North, Range 66
West of the 6th P.M. , being more particularly
described as follows: BEGINNING at a point on the
West R.O.W. line of U. S. Highway 85 , where said
line intersects the North line of the Eh of
Section 29 , said point being the TRUE POINT OF
BEGINNING; thence West along said North line of
the Eh of Section 29 to the Northwest corner of
the NE4 of said Section; thence South 330 feet;
thence East to the West R.O.W. line of U.S.
Highway 85; thence Northwesterly along said West
R.O.W. line of U.S. Highway 85 to the TRUE POINT
OF BEGINNING; said tract of land containing 2. 19
acres , of which 0. 19 acre is included in Weld
County Road #126 right-of-way, resulting in a net
area of 2 . 00 acres, more or less.
NOW, THEREFORE, in consideration of the above named recitals, the
parties do hereby agree as follows:
Exhibit "I"
EXHIBIT "I"
B 1105 REC 02045663 03/10/86 14: 57 $0. 00 3/014
F 1567 MARY ANN FEUERSTEIN CLERK & RECORDER WELD CO, CO
1. That all of the conditions recited in the agreement
dated July 29 , 1985 , between the parties hereto , and
denoted Attachment "2 , " shall be in full force and
effect notwithstanding that the Warranty Deed denoted
Attachment "1" was issued by the Seller to the
Purchaser.
2. Specifically, but not limited to the specifics outlined
herein, it is agreed that the conditions set forth in
paragraphs 11 and 12 of Attachment "2" shall not merge
with said Warranty Deed and shall be deemed to be in
full force and effect notwithstanding that said Warranty
Deed was issued by the Seller to the Purchaser.
IN WITNESS WHEREOF, the parties hereto affix their hands and seals
on the day and year first above written.
X
Leo K. Wardman
SUBSCRIBED AND SWORN to before me this 5th day of
"-fria ciY.,2 . 1986.
r'YTNESE.Ftt hand and official seal.
;.0 TA ?O
Notary Public
of i tit C
My commission expires: May 4, 1987
i -i
lirc‘
yf a
ATTEST: Board of County Commissioners
f Weld County, Colorado.
Weld C 4' 'l.;ele and Recorder
and Clee c' k≥ rye (-;
d
eput�C , tyerk J.cqu-�_ine o nson, Chairman
EXHIBIT "I"
Reco B 1105 REC 02045663 03/10/86 14: 57 $0. 00 4/014
Recel F 1568 MARY ANN FEUERSTEIN CLERK & RECORDER WELD CO, CO .corder
11 iiiarnfj UDceet
THIS DEED is a conveyance of the real property described below. including any improvements and other
appurtenances (the "property") from the individual(s), corporation(s), partnership(s) or other entity(ies)
named below as GRANTOR to the individual(%) or entity(ies) named below as GRANT FE.
The GRANTOR hereby sells and conveys the property to the GRANT EE and the GRANTOR %%arrant% the title to
the property, except for (1) the lien of the general property taxes for the year of this deed, kyhich the GRANTEE
will pay (2) any easements and rights-of-way evidenced by recorded instruments (3) any patent reservations
and exceptions(4) any outstanding mineral interests shown of record(5)any protective covenants and restric-
tions shown of record, and (6) any additional matters shown below under"Additional \\'arranty Exceptions".
The specific terms of this deed are:
GRANTOR: Give namelsl and place(')of re'rdence; it the spouse of the owner-grantor is joining in this Deed to...luau' homestead rights,
identify grantors as husband and wife I
Leo K. Wardman, 62001 Highway 85 — CR 126, Rockport, Colorado
GRANTEE: (Give name(v)and address(es). statement of address, including available toad or street number, is required 1
County of Weld, a body corporate and politic, c/o Board• of County Commissioners
of Weld County, Colorado, 915 Tenth Street, Greeley, Colorado 80631
FORM OF CO-OWNERSHIP: (II there are two or more grantees named. they will be considered to take as tenants in common unless
the words"in joint tenancy"or words of the 'dine meaning are added in the space below I
PROPERTY DESCRIPTION: (Include county and slate I
Lot A of Recorded Exemption No. 0203-29-1—RE823, a copy of which is attached
hereto and is referred to herein as Exhibit ttA,tt recorded January 31 , 1986, in
Book 1101 as Reception No. 2041280, being a part of the following described
property: That portion of the NEi of Section 29, Township 11 North, Range 66
West of the 6th P.M. , being more particularly described as follows: BEGINNING
at a point on the West R.O.W. line of U.S. Highway 85, where said line inter-
sects the North line of the E} of Section 29, said point being the TRUE POINT
OF BEGINNING; thence West along said North line of the E} of Section 29 to the
Northwest corner of the NE} of said Section; thence South 330 feet; thence East
to the West R.O.W. line of U.S. Highway 85; thence Northwesterly along said West
R.O.W. line of U.S. Highway 85 to the TRUE POINT OF BEGINNING; said tract of land
containing 2. 19 acres, of which 0. 19 acre is included in Weld County Road #126
right-of—way, resulting in a net area of 2.00 acres$, more or less.
CONSIDERATION: (The statement of a dollar amount is optional; adequate canarleranon for this derrl not tin presumed unless this
I onvesanre is identified as a gilt; in any case this convesance is absolute. final and unrondmunal )
RESERVATIONS-RESTRICTIONS: ill the GRANTOR intends to recent,any.nieces' rn the property or to convey less than he owns. or
if the GRANTOR it restricting the CRAMEI'S rights in the properly, make appropriate indication )
•
•
ADDITIONAL WARRANTY EXCEPTIONS: (Include mortgages being assumed and other matters not covered above I
See the attached Exhibit "B."
•
•
Signed on March 5 , 19 86 . e- t Ci l� ��t2�%, r � < K
Attest Leo K. Wardman Grantor
Grantor
STATE OF COLORADO
COUNTY OF WELD ) ss' Grantor
The foregoing instrument was acknowledged before me this 5th day of March , 19 86
by Leo K. Wardman.
WITNESS my hand and official seal, . . € e --2
My commission expires: May 4, 1987 r'
Notary Public
STATE OF
COUNTY OF ) 55.
The foregoing instrument was acknowledged before me this day of , 19
by
WITNESS my hand and official seal.
My commission expires:
-__-� Notary Public
• 1977 UPDATE LEGAL FORMS ATTA(;LIN1LYiT1:I' NO. Tut
P.O. BOX 1815, GREELEY, COLORADO 80632 \�"
' `'` 1'i °" " 4'.P B 1101 REC 02041280 01/31 /86 12 : 01 $6 . 00 2/002
�- 1 y F 1060 MAR . ANN FEUERSTEIN CLERK & REr �RDER WE CO,, CO
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• B 1105 REC 02045663 03/10/86 14: 57 $0.00 5/014
F 1569 MARY ANN FEUERSTEIN CLERK & RECORDER WELD CO, CO
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McRAE & SHORT, INC. 1227 . 8th Avenue Greeley, Colorado 80631; a Pnod' No. //9-85/
F 1059 MARY ANN FEUERSTEIN CLERK & RECORDER wcLv ,
f Eco ®E® '.. m:i,EMn'ioN " �1C. b203 r2-0-1-RE 823
SHEET I OF a. F�Ic 0 41o3
, Ent). # ;2435
OWNER: MRS. LEO K. WARDMAN y;° • , ' •
CARR, COLORADO 80612
DATE: NOVEMBER 13, 1985
3/88
LEGAL DESCRIPTION
PART OF THE NORTHEAST QUARTER BEGINNING ON THE WEST LINE OF HIGHWAYtD .S HIGHWAY 85) ON
THE NORTH LINE OF THE EAST HALF OF SECTION 29, WEST TO NORTHWEST CORNER OF THE NORTHEAST
QUARTER, SOUTH 330 FEET, EAST TO HIGHWAY, NORTHWESTERLY TO BEGINNING. BEING TEN ACRES.
MORE OR LESS. IN. SECTION 29, TOWNSHIP 11 NORTH OF RANGE 66 WEST OF THE 6th NM., WELD
COUNTY, COLORADO.
i
OWNER'S CERTIFICATE
I , MRS, L. HARDMAN, BEING THE SOLE OWNER IN FEE OF THE ABOVE DESCRIBED PROPERTY DO HEREBY
DIVIDE THE SAME AS SHOWN ON THE ATTACHED MAP,
MRS. LEO K. WARDMAN
STATE OF COLORADO )ss
COUNTY OF WELD )
THE FOREGOING CERTIFICATION WAS ACKNOWLEDGED BEFORE ME THIS.aD"UAY OF Da
A.D. , 1985. ;'' �'r
f
WITNESS I1? HAND AFID SEAL. MY COMMISSION EXPIRES:_SLA,ykC Q/ )qSt' +
N' �►`"4
210 ARY PUDLI
� ;ar ,
SURVEYOR'S CERTIFICATE • o i iCla • 1,
I HEREBY CERTIFY THAT THIS PLAT WAS' PREPARED UNDER NY SUPERVISION; ANb'THAT THE SAME. IS
CORRECT TO THE HEST OF MY KNOWLEDGE AND BELIEF ' ti '
441,
GERALD B. McRAE, PROFESSIONAL ENGINEER AND 016
LAND SURVEYOR, COLORADO REG. NO. 6616
THIS PLAT rs ACCEPTED AND APPROVED FOR FILING, r,
iaQ '
• DIRECYOR, DEPARTMENT O(PL RUING S : CES
THE FOREGOING rCERTIFICATION-WAS ACKNOWLEDGED BEFORE ME THIS 211i•DAY OF`l4p,rus.ow..
A.D. , 1985.
WITNESS MY HAND AND SEAL. MY COMMISSION EXPIRES: MY Comminbn tx i Feb't q, 1989 r w ,.. '
•
Ced •
• NO,TARY PUBLIC
• B 1105 REC 02045663 03/10/86 14: 57 $0. 00 6/014
F 1570 MARY ANN FEUERSTEIN CLERK & RECORDER WELD CO, CO
• EXHIBIT "A"
McRAE & SHORT, INC. 1227 . 8th Avenue Greeley, Colorado 80631 PAOJ.' no 1/9-85/
EURPORTEDCOP'Y
EXHIBIT "I"
B 1105 REC 02045663 03/10/86 14 : 57 $0. 00 7/014
F 1571 MARY ANN FEUERSTEIN CLERK & RECORDER WELD CO, CO
EXHIBIT "B"
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 . 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.
6 . Rights of way for county roads 30 feet wide on each side of
section and township lines, as established by order of the
Board of County Commissioners for Weld County, recorded
October 14 , 1889 , in Book 86 at Page 273 .
7 . Right of way for public highway, as granted to Weld County by
Sidney Speer and E. J. Speer by Right of Way Deed recorded
July 17 , 1925 , in Book 779 at Page 261 , affecting the
following described property:
A tract of land situated in Section 29 , Township 11 North,
Range 66 West, more particularly described as follows:
A strip of land 80 feet wide, 40 feet on either side of the
following described center line of Colorado Highway No. 3 :
Beginning at a point on the South line of said Section 29
from whence the Southeast corner of said Section 29 bears
S89°16' E, 744 feet distance, thence N7°00'W, 5262. 1 feet,
more or less , to a point on the North line of said Section
29 , from whence the Northeast corner of said Section 29 bears
S89°26'E, 1468 feet distant.
NOTE: The following described tract of land is conveyed
to Leo K. Wardman by Weld County by Deed recorded
January 16 , 1958 , in Book 1494 at Page 81:
A tract or parcel of land in the NWa of the NEQ of
Section 29 , Township 11 North, Range 66 West of the
EXHIBIT "I" EXHIBIT B
B 1105 REC 02045663 03/10/86 14: 57 $0. 00 8/014
F 1572 MARY ANN FEUERSTEIN CLERK & RECORDER WELD CO, CO
6th P.M. , said tract or parcel being more
particularly described as follows:
Beginning at a point on the North line of Section
29 , Township 11 North, Range 66 West, from which
point the Northeast corner of Section 29 bears
S89°48'E, a distance of 1 , 454. 7 feet;
1 . Thence along the proposed West right of way of
S.H. No. 3 , along the arc of a curve to the
right, having a radius of 5 ,578. 0 feet, a
distance of 125 . 8 feet, the chord of this arc
bears S5°23 ' E, a distance of 125. 7 feet;
2 . Thence along the proposed West right of way of
S.H. No. 3, S4°44'E, a distance of 205. 6 feet;
3 . Thence N89°48 'W, a distance of 25 .5 feet to
the existing Southeast property corner;
4. Thence along the existing West right of way of
S.H. No. 3 , N7°18 ' 30"W, a distance of 332. 9
feet to a point on the North line of Section
29;
5 . Thence along the North line of Section 29 ,
S89°48 'E, a distance of 39 . 1 feet, more or
less , to the Point of Beginning.
8. Right to deny or restrict each and every right of access to
and from the Land insured hereby, directly onto abutting
street or highway designated as State Highway No. 3 , along or
across a line described as follows:
F 006-1 (19) Parcel No. 6A Westerly Line
Beginning at a point on the South property line from which
point the Northwest corner of Section 29 , Township 11 North,
Range 66 bears N84°54 'W a distance of 3 , 861. 4 feet;
1 . Thence N 4°44'W a distance of 205. 6 feet;
2. Thence along the arc of a curve to the left, having a
radius of 5, 578. 0 feet, a distance of 96. 0 feet, the
chord of this arc bears N5° 14 'W a distance of 96. 0 feet
to a point on the South County Road right of way by
reason of a grant or relinquishment of said access
right (s) by deed from Leo K. Wardman to the Department
of Highways , State of Colorado, recorded April 6, 1957 ,
in Book 1474 at page 492.
EXHIBIT "I" EXHIBIT B
B 1105 REC 02045663 03/10/86 14: 57 $0.00 9/014
F 1573 MARY ANN FEUERSTEIN CLERK & RECORDER WELD CO, CO
9 . Oil and gas lease between Floyd V. Wardman and Leo K. Wardman.
and R. E. Puckett dated July 1 , 1976 , recorded August 25 ,
1976 , in Book 775 as Reception No. 1697146 , and any interests
therein or rights thereunder.
10. All mineral rights , as reserved by Leo Wardman in the
Agreement for Sale and Purchase of Vacant Land to Weld
County, a body corporate and politic of the State of
Colorado, recorded August 1 , 1985 , in Book 1079 as Reception
No. 2019273 , and any interests therein or rights thereunder.
11 . Right of First Refusal as reserved by Leo Wardman in the
Agreement for Sale and Purchase of Vacant Land to Weld
County, a body corporate and politic of the State of
Colorado, recorded August 1 , 1985 , in Book 1079 as Reception
No. 2019273 .
12. Right reserved by Leo Wardman to state her desire to the Weld
County Engineer as to the placement of the grader shed upon
parcel at the engineering stage of its development in the
Agreement for Sale and Purchase of Vacant Land to Weld
County, a body corporate and politic of the State of
Colorado, recorded August 1 , 1985 , in Book 1079 as Reception
No. 2019273 .
EXHIBIT "I"
B 1105 REC 02045663 03/10/86 14: 57 $0. 00 10/014
F 1574 MARY ANN FEUERSTEIN CLERK & RECORDER WELD CO, CO
AGREEMENT FOR SALE AND PURCHASE OF VACANT LAND
AR2019273
THIS AGREEMENT, made at Greeley, Colorado, this day of
June, 1985 , between WELD COUNTY, COLORADO, by and through the
Board of County Commissioners of the County of Weld, hereinafter
"Purchaser, " and MRS. LEO WARDMAN, 62001 Highway 85-CR 126 ,
Rockport, Colorado, hereinafter "Seller. "
oo o WITNESSETH:
~ ° That in consideration of the payment by the Purchaser to
z Seller of the sum of $2 ,400 . 00 (Two Thousand Four Hundred
z n Dollars) , in cash, and other good and valuable consideration,
o Seller agrees to sell to the Purchaser and the Purchaser agrees to
z No purchase from Seller the Parcel shown in Exhibit "A, " and
z z described as : two acres in the Northeast corner of that portion
mt..) of the Northeast quarter of Section 29 , Township 11 North, Range
66 west of the 6th Principle Meridian, Weld County, Colorado,
being more particularly described as follows: beginning at a
m o point on the West R.O.W. line of U.S. Highway 85 , where said line
Ha' intersects the North line of the East half of Section 29 , said
Ho point being the TRUE POINT OF BEGINNING; thence West along said
z North line of the East half of Section 29 to the Northwest corner
r °'„ of the Northeast quarter of said Section; thence South 330 feet;
ro thence East to the West R.O.W. line of U.S. Highway 85; thence
Northwesterly along said West R.O.W. line of U.S. Highway 85 to
:t the TRUE POINT OF BEGINNING, hereinafter referred to as the
"Parcel" according to the terms and conditions set forth herein.
zat.
t�
n The agreement of sale and purchase of Parcel is subject to
• the following conditions:
[�]• in
z o 1 . Seller shall furnish to Purchaser a warranty deed
• o conveying only the surface rights of the Parcel. Title insurance
o
need not be provided by Seller.
2 . Title shall be merchantable in Seller, except as stated
• � in this paragraph and in paragraph 5 . Subject to payment or
o tender as above provided and compliance by Purchaser with the
o . other terms and provisions hereof, Seller shall execute and
deliver a good and sufficient special warranty deed to Purchaser
on , or, by mutual agreement, at an earlier date,
conveying the property free and clear of all taxes, except general
taxes for 1985 , payable January 1 , 1986 , and free and clear of all
liens for special improvements installed as of the date of
Purchaser' s signature hereon, whether assessed or not; free and
clear of all liens and encumbrances, and except the recorded
and/or apparent easements , and subject to building and zoning
regulations and reserving all mineral rights to the Seller.
Attachment "2"
Page 1 of 4 Pages
EXHIBIT "I"
B 1105 REC 02045663 03/10/86 14: 57 $0. 00 11/014
F 1575 MARY ANN FEUERSTEIN CLERK & RECORDER WELD CO, CO
3 . General taxes for the year 1985 shall be apportioned to
date of delivery of deed based on the most recent levy and the
most recent assessment.
4 . The date of closing shall be the date of delivery of
deed as provided in paragraph 2 . The hour and place of closing
shall be designated by Seller.
5 . Except as stated in paragraph 2 and this paragraph, if
" title is not merchantable and written notice of defect (s) is given
cn- by Purchaser or Purchaser' s agent to Seller or Seller' s agent on
o or before date of closing, Seller shall use reasonable effort to
correct said defect(s) prior to date of closing. If Seller is
Vg unable to correct said defect (s) on or before date of closing, at
z n Seller' s option and upon written notice to Purchaser or
'< o Purchaser' s agent on or before date of closing, the date of
z N closing shall be extended thirty (30) days for the purpose of
z correcting said defect (s) . Except as stated in paragraph 2 , if
title is not rendered merchantable as provided in this paragraph
PI --I 5 , at Purchaser' s option, this contract shall be void and of no
• effect and each party hereto shall be released from all
rj90 obligations hereunder and all payments and things of value
y co received hereunder shall be returned to Purchaser provided,
HO however, that in lieu of correcting such defect(s) , Seller may,
2 -t within said thirty (30) days, obtain a commitment for owner' s
n m title insurance policy in the amount of the purchase price
• (-71
reflecting title insurance protection in regard to such defect (s) ,
. and the Purchaser shall have the option of accepting the then
. a existing insured title in lieu of such merchantable title. The
a Seller shall pay the full premium for such owner' s title insurance
A policy.
n
6 . The Seller agrees to release the Purchaser from all
• consequential damages , except as otherwise set forth herein in
z• o paragraph 8 and except damages caused by the negligent or willful
z o misconduct of the Purchaser or its employees, present or
o
prospective, to the remainder of Seller' s property arising out of
o the operation and maintenance, ore repair of the grader shed
n located on the Parcel.
O N
0 7 . Time is of the essence hereof. If any note or check
p a received as earnest money hereunder or any other payment due
hereunder is not paid, honored or tendered when due, or if any
other obligation hereunder is not performed as herein provided,
there shall be the following remedies:
(a) IF SELLER IS IN DEFAULT, (1) Purchaser may elect to
treat this contract as terminated, in which case all payments
and things of value received hereunder shall be returned to
Purchaser and Purchaser may recover such damager as may be
proper, or (2) Purchaser may elect to treat this contract as
being in full force and effect and Purchaser shall have the
Page 2 of 4 Pages
EXHIBIT "I"
B 1105 REC 02045663 03/10/86 14: 57 $0. 00 12/014
F 1576 MARY ANN FEUERSTEIN CLERK & RECORDER WELD CO, CO
right to an action for specific performance or damages, or
both.
(b) IF PURCHASER IS IN DEFAULT, (1) Seller may elect to
treat this contract as terminated, in which case all payments
and things of value received hereunder shall be forfeited and
retained on behalf of Seller and Seller may recover such
damages as may be proper, or (2) Seller may elect to treat
>ziw this contract as being in full force and effect and Seller
shall have the right to an action for specific performance or
0 o damages, or both.
o �
w �
(c) Anything to the contrary herein notwithstanding, in the
event of any litigation arising out of this contract, the
K o court may award to the prevailing party all reasonable costs
and expenses, including attorneys ' fees.
z• o
• o 8 . Seller shall apply to Weld County, at Purchaser' s
ni _j expense, for authorization pursuant to Weld County Subdivion
c• o" Regulations, to create the three lots as shown on Exhibit A.
Expenses shall include costs of application fees, survey and
y w recording costs. This contract shall be contingent on final
approval and recordations of appropriate plats by Weld County.
H O
zH
n Co 9 . Possession of the property shall be delivered to
✓ u' Purchaser upon closing and shall not be subject to any leases or
% tenancies. Seller shall assume all costs of compensating any
• tenants or leaseholders for any damages as a result of the taking
of any remainder.
10 . The Seller represents and warrants as the day hereof and
• as of the date of the closing that neither the execution of this
d contract nor the consummation of the transaction provided for
% `, herein constitutes, or will result in, any breach of any of the
•o
terms, conditions, or provisions, or constitute a default under,
t o any indenture, charter, bylaw, mortgage, loan agreement, lien,
• lease, license, judgment, decree, order, instrument or other
verbal or written agreement to which Seller is a party of is
o• w subject or to which the property is subject, except as provided
herein.
n o
O .a it . Seller shall have first right of refusal to repurchase
Parcel when and if Purchaser decides to sell Parcel. Purchaser
shall notify Seller of Purchaser' s decision to sell Parcel
immediately after such decision is made. Purchaser will then take
bids on said Parcel. Once the bidding is complete, Seller shall
then have the right to repurchase Parcel by matching the highest
bid received by Purchaser.
12 . Purchaser shall consult with Seller as to the placement
of the grader shed upon parcel at the engineering stage of its
development. Seller shall have the right to state where she
Page 3 of 4 Pages
EXHIBIT "I" -
B 1105 REC 02045663 03/10/86 14: 57 $0. 00 13/014
F 1577 MARY ANN FEUERSTEIN CLERK & RECORDER WELD CO, Co
desires the grader shed to be located on Parcel and Purchaser will
comply with said desire, insofar as Seller' s desire meets the
following conditions :
(a) Seller' s desired placement must be in compliance with
all setback and other requirements concerning placement of
structures on lots contained in the Weld County Zoning
Ordinance.
m (b) Seller' s desired placement must not be such as would
unduly restrict access to said grader shed.
o �
00
0 (c) Seller' s desired placement must be practical for
ko Purchaser' s intended use of said parcel.
zti If this proposal is accepted by Seller in writing and
o Purchaser receives notice of such acceptance on or before July 31 ,
z o 1985 , this instrument shall become a contract between Seller and
z Purchaser and shall inure to the benefit of the successors and
assigns of such parties.
h7 v
Cw
IN WITNESS HEREOF, the parties hereto have subscribed their
y names this 29th day of July, 1985 .
ii0 ATTEST: BOARD OF COUNTY COMMISSIONERS
z � .? � WELD NTY, COLORADO
co Weld C /- & Recorder P and Cy, oard BY /�h eat
Pro fern Chairman for Purchaser
a BY nib
,a g. r"�'°' » .n ' Clerk
Jam; IvY r
O
(The fa section to be completed by Seller. )
ar
e Seller accepts the above proposal this �
e /4‘ day of ,
• 0 1985 .
• o
BY: f�� J
o
46,
o SUBSCRIBED AND SWORN to before me this y4 day of July,
o 1985 .
no >
o .a
WITNESS my hand and official seal.
n N
' ttehreg Notary Public
ehl :to`mmission expires :
≥ .: .... •••:‘,44
o ;
• C.. My Commission Expires April 18, 1988
Page 4 of 4 Pages
EXHIBIT "II"
fhe printed portion of this form approved by the
Colorado Real k:slate Coenmissloo tSS-60.7.711
STATEMENT OF SETTLEMENT
SELLER'S p PURCHASER'S El
PROPERTY ADDRESS N/A
SELLER Mrs. Leo Wardman PURCHASER Weld County, Colorado
SETTLEMENT DATE DATE OF PRORATION
LEGAL DESCRIPTION: A tract of land located in the North Half of the East Half of Section 29,
Township 11 North, range 66 West of the 6th P.M. , Weld County, Colorado
Debit Credit
1. Selling Price 2400 00
2. Deposit,paid to None
3. Trust Deed,payable to . None
4. Trust Deed, payable to None .
5. Trust Deed,payoff to None _
6. Interest on Loan Assumed None
7. Title Ins.Premium Paid by Purchaser
8. Abstracting: Before Sale None
-g. After Sale None
10. Title Exam.by TransAmerica Title Insurance Co.
IL Recording: Warranty Deed Purchaser exempt from §30-1-103, CRS
12. Trust Deed None
13. Release None
14. Other -
15. Documentary Fee Purchaser exempt from §39-13-102, CRS
16. Certificate of Taxes Due Ordered by Purchaser _
17. Taxes for Preceding Year(s) Paid
Is. Taxes for Current Year None
19. Tax Reserve None
20. Special Taxes None
21. Personal Property Taxes None
M. Hazard Ins.Prem.Assumed--Policy No. Co. None
$ Yr.Term Expires
Premium$ Days Unused at 0 per day _ ______
23. Premium for New Insurance None
2L Hazard Ins. Reserve None ,_ —_�
25. Fly►, Mortgage Ins.Assumed None —
26. FHA Mortgage Ins.Reserve None
27. Loan Service Fee (Buyer) None _
28. Loan Discount Fee(erSeli ) None _
-
29. Interest on New Loan None
30. Survey and/or Credit Report None
31. Appraisal Fee None _
32. Water and/or Sewer None _
33. Rents None .-
34. Security Deposits None -
3J. Loan Transfer Fee None -
36. Loan Payment Due None ____
37. Broker's Fee None —
B 1105 REC 02045663 03/10/86 14: 57 $0.00 14/014
F 1578 MARY ANN FEUERSTEIN CLERK & RECORDER WELD CO, CO •
Sub-Totals 2400 00 0 00
Balance due to/from:Seller 2400 00 _
Balance due /from Buyer 2400 00
LS _TOTA 2400 00 2400 00
The above figures do not include sales or use taxes on personal property
APPROVED and ACCEPTED
Weld County, Colorado, by and through the Board of County Commissioners
Purchaser/SM of Weld County, Colorado Broker
Purchaser/$IIkI By'_ By
cqu ine o n on, airman
Exhibit "II"
Recorded at e
B 1105 REC 02045664 03/10/86 14: 58 $0. 00 1/006
ReceptionNo._ F 1579 MARY ANN FEUERSTEIN CLERK & RECORDER WELD CO, CO
ARd045664 Cam, I Vilna il (Ike(/' C...--Cc)
THIS DEED is a conveyance of the real property described below. including any improvements and other
appurtenances (the "property") from the individual(s), corporation(s), partnership(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. sshich the GRANTEE
will pay (2) any easements and rights-of-way evidenced by recorded instruments (3) any patent reservations
and exceptions (4) any outstanding mineral interests shown of record(5)any protective covenants and restric-
tions shown of record, and (6) any additional matters shown below under "Additional Warranty Exceptions"
The specific terms of this deed are:
GRANTOR: (rove namelsl and placers) of residence. it the spouse of the owner-grantor is paining in this Deed to release homestead rights.
identify grantors as husband and wife)
Leo K. Wardman, 62001 Highway 85 — CR 126, Rockport, Colorado
GRANTEE: (Give name(s) and addressees): statement of address. including available road or street number, is required )
County of Weld, a body corporate and politic, c/o Board •of County Commissioners
of Weld County, Colorado, 915 Tenth Street, Greeley, Colorado 80631
FORM OF CO-OWNERSHIP: (If there are two or more grantees named, they will be considered to take as tenants in common unless
the words"in joint tenancy"or words of the same meaning are added in the space below I
PROPERTY DESCRIPTION: (Include county and state) -
Lot A of Recorded Exemption No. 0203-29-1-RE823, a copy of which is attached
hereto and is referred to herein as Exhibit rtA," recorded January 31, 1986, in
Book 1101 as Reception No. 2041280, being a part of the following described
property: That portion of the NEi of Section 29, Township 11 North, Range 66
West of the 6th P.M. , being more particularly described as follows: BEGINNING
at a point on the West R.O.W. line of U.S. Highway 85, where said line inter-
sects the North line of the E} of Section 29, said point being the TRUE POINT
OF BEGINNING; thence West along said North line of the E} of Section 29 to the
Northwest corner of the NE} of said Section; thence South 330 feet; thence East
to the West R.O.W. line of U.S. Highway 85; thence Northwesterly along said West
R.O.W. line of U.S. Highway 85 to the TRUE POINT' OF BEGINNING; said tract of land
containing 2.19 acres, of which 0. 19 acre i included in Weld County Road #126
right-of-way, resulting in a net area of 2.I00atacres,i ,tmorion a Ihord,ltessl'he ',resumed finless this
CONSIDERATION: IThe statement of a dollar amount is optional,
t onvev ante is identified as a gift: in any case this convey ante is absolute. final and tine tuitional )
RESERVATIONS-RESTRICTIONS: (n the GRANTOR intends to reserve any interest in the property or to convey less than he ow o 1
ns or
if the GRANTOR is restricting the GRANTLI'5 rights in the property, make appropriate
.i •
ADDITIONAL WARRANTY EXCEPTIONS: (Include mortgages being assumed and other matters not coveted above)
See the attached Exhibit "B."
' t
,"k�TAR' ': 86 en �/G��z .n�r �_ K
Sign . T March 5 19Leo K Wardman Grantor
U �' Grantor
rim -, -• Or COs C —
c -t STAtE.OF.COLORADO ) ss. Grantor
o m m 2=I • COUNTY OF WELD ) 19 a86
n
o W-111 r, The foregoing instrument was acknowledged before me this 5th day of March
=t 5 m o by Leo K. Wardman.
vT 7mA
1M1'ITNESS my hand and official seal. .or�,-L, (71. 264C:2_,..,--.
°00-6-2,1,�" My commission expires: May 4, 1987 Notary Public
,cp,t_o
L;:::80
K 0 0,K,,
p- 9 w r STATE OF ) 55.
o n z COUNTY OF ) day of 19
n m. t;i The foregoing instrument was acknowledged before me this
zzre z- by
$o o-= WITNESS my hand and official seal.
i n c in My commission expires: -
c o y z Notary Public
OZatI
�✓ v' 1977 UPDATE LEGAL FORMS NO. 701
P.O. BOX 1815, GREELEY, COLORADO 80632
r ��b03-291-RE 82 3 .,
Co [':1 � ,, .3c �i/ln �'i®1!1 File. 4 4/03
SHEET I OF a. ;, End. ' St 1435
OWNER: MRS. LEO K. WARDMAN'
CARR, COLORADO 80612 D
DATE: NOVEMBER 13, 1985 ,A•3 ;
LEGAL DESCRIPTION
PART OF THE NORTHEAST QUARTER BEGINNING ON THE WEST LINE,OF HIGHWAY (U S HIGHWAY 85) ON
THE NORTH LINE OF THE EAST HALF OF SECTION 29, WEST TO NORTHWEST CORNER OF. THE NORTHEAST
QUARTER. SOUTH 330 FEET, EAST TO HIGHWAY, NORTHWESTERLY TO BEGINNING. BEING TEN ACRES,,
MORE OR LESS. IN. SECTION 29, TOWNSHIP 11 NORTH OF RANGE 66 WEST OF THE 6th P.M. , WELD
COUNTY, COLORADO.
OWNER'S CERTIFICATE '
I , MRS. L. WARDMAN, BEING THE SOLE OWNER IN FEE OF THE ABOVE DESCRIBED PROPERTY D0 HEREBY
DIVIDE THE SAME AS SHOWN ON THE ATTACHED MAP.
V: 2r1-I.41 - ,k 7,d Ax4, -'
MRS. LEO K. WARDMAN
STATE OF COLORADO )ss
COUNTY OF WELD ) ( ,
THE FOREGOING CERTIFICATION WAS ACKNOWLEDGED BEFORE TIE THISDo UAY Orligkeyedyo±._'
A.D. . 1985. v. ) v'e 't
:Li i
- �J 1.WITNESS MY HAND AND SEAL. , MY COMMISSION EXPIRES:
0
NR;;. PUBLI -
• i , q
SURVEYOR' S CERTIFICATE l ; I .L I i ' ,
a n t �;. I n,. r.. , •
I HEREBY CERTIFY THAT THIS PLAT WAS' PREPARED UNDER MY SUPERVISION, ANbITHAT THE SAME IS
CORRECT TO THE HEST OF MY KNOWLEDGE AND BELIEF , ; ry1`1;,,
. w4,"i
deretZce. it f 411 . • • - .,. .,.: , ' ,
GERALD B.McRAE, PROFESSIONAL ENGINEER AND
LAND SURVEYOR. COLORADO REG. NO. 6616 4, , ,
,
THIS PLAT IS ACCEPTED AND APPROVED FOR FILING. +�t _CA . ,
I
` 115ThEC 0 , DEPARTlIENT 0 PL tUJIIIG S : CES
' b1 DAY OF,i.q'�,rus.n. '
THE FOREGOING `CERTIFICATION�JAS ACKNOWLEDGED BEFORE ME THIS ',\'
A.D. , 1985.
WITNESS MY HAND AND SEAL. :' MY COMMISSION EXPIRES: MyCmmIt'bnIn4i 'ski ti's' 1989 `u+.•" I" •
,
•
B 1105 REC 02045664 03/10/86 14 : 58 $0. 00 2/006 •
F 1580 MARY ANN FEUERSTEIN CLERK & RECORDER WELD CO, CO
•
. ' I EXHIBIT "A" i
McRAE & SHORT, INC. 1227 . 8th Avenue Greeley, Colorado 80631 tPROJ NO '/19-55.1
le f� 1,, '• I F 1060 MARY ANN FEUERSTEIN CLERK & RE('�RDER WELD COr CO
i /
RECORDED i' E)CE `MIPTI®f'1! N0 0203-29-1-RE 823
.. ..3 ' .. SHEET • 2 OF 2 )4,••t..1,••••
ipn �i e ^i i ��� f� X71 '\�'
1 1
I +I ' ;,,,... \sk • ‘ ,.....i .
L 1 i 1 P „.. ,\
' il) , � i ` � � II I\
} ..� l I I 0411 ., .s 4 \
i, I ' , _, i , �';- • C �• ; A I 1 ")\(J\ Till \
0. 5a !m t5a too 1 � t lr.Ij �. `yl� `� mfr P ( S,,-� 11.1 •
J1 yl ;sic
1� I '
tTH
• • `--J.k1 ' 1 1 \v I\\ \ l 71
® ' PIN$ FOUND ' 1 tyl' l" ,I,,.' 1\ � I )I ,�L�1 l '. 1‘l'• \ \\>11 l,'\
P.
o • PINS SET " LOCATION'"' MAP
l' I
• SCALD � .2000 ,
r,,
i 7i• ' 1 ',
, • r 111 rui F (11lwlr,, (.11 i„
I • 4 i•'1. Ilil I'• I 1 ,j, II ',lie.;'- NE Cor,.,�
N. 1 c0f Sec •..
297 :�, 1 WELD ", :Country : ROAD ' 12Co 29•rCor,
T. 11 N., Sett.
.'• las4.7dT /
• . ' n �1'• . . /45..3'0/Ilea r--• S.89'48'Od"E. //9G•72 ./..:';''X'"....:-...,
�.. 9Z3./8"" .• '''t_` 273.54' n ..
2 0 � Q .
�: NVy o
I , t` 111,111'.:,! : 11 W 4 lW "
! 1 L 11 It I O W 1`V
((yyam� 1 ` it 1•' II O �y `N
, , ,, , m _ .
;'i' I t. I Q. 1141 ' , '•
' • 1•. i 1(r I,;11 I I
-Q LOT B .Ni LO'Tp• q ,1 ' A
h, ± 7 Acres ICI 2. t 9 4lc:,Gross w
., • 0. 19 4c. R O.K/
O00 sic Net 1t o
c1 1 , 1 it.. • I " �1
` O ;II
o I "all q '• N
1
. tl }I I ri
.1 '• �
±.923 qq„ � 1 •'''303+00' "
• . N. 89148'00"W #/220' . •
B 1105 REC 02045664 03/10/86 14: 58 $0. 00 3/006
F 1581 MARY ANN FEUERSTEIN CLERK & RECORDER WELD CO, CO
•
•
p I;'
r•
t •
I.
p :
Merl AE & SHORT. INC. 1227 • 8th Avenue Greeley, Colorado 80031 ( ' 'Poo,) No. /!9-BS/
B 1105 REC 02045664 03/10/86 14: 58 $0. 00 4/006
F 1582 MARY ANN FEUERSTEIN CLERK & RECORDER WELD CO, CO
EXHIBIT "B"
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. 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.
6 . Rights of way for county roads 30 feet wide on each side of
section and township lines , as established by order of the
Board of County Commissioners for Weld County, recorded
October 14 , 1889 , in Book 86 at Page 273 .
7 . Right of way for public highway, as granted to Weld County by
Sidney Speer and E. J. Speer by Right of Way Deed recorded
July 17 , 1925 , in Book 779 at Page 261 , affecting the
following described property:
A tract of land situated in Section 29 , Township 11 North,
Range 66 West, more particularly described as follows:
A strip of land 80 feet wide, 40 feet on either side of the
following described center line of Colorado Highway No. 3 :
Beginning at a point on the South line of said Section 29
from whence the Southeast corner of said Section 29 bears
S89°16 ' E, 744 feet distance, thence N7°00 'W, 5262. 1 feet,
more or less , to a point on the North line of said Section
29 , from whence the Northeast corner of said Section 29 bears
S89°26' E, 1468 feet distant.
NOTE: The following described tract of land is conveyed
to Leo K. Wardman by Weld County by Deed recorded
January 16 , 1958 , in Book 1494 at Page 81 :
A tract or parcel of land in the NW4 of the NEa of
Section 29 , Township 11 North, Range 66 West of the
B 1105 13 C 02045664 03/10/86 14: 58 $0. 00 5/006
F 1583 MARY ANN FEUERSTEIN CLERK & RECORDER WELD CO, CO
6th P.M. , said tract or parcel being more
particularly described as follows:
Beginning at a point on the North line of Section
29 , Township 11 North, Range 66 West, from which
point the Northeast corner of Section 29 bears
S89°48 'E, a distance of 1 ,454. 7 feet;
1 . Thence along the proposed West right of way of
S.H. No. 3 , along the arc of a curve to the
right, having a radius of 5 ,578. 0 feet, a
distance of 125 . 8 feet, the chord of this arc
bears S5°23'E, a distance of 125. 7 feet;
2. Thence along the proposed West right of way of
S.H. No. 3 , S4°44 ' E, a distance of 205. 6 feet;
3 . Thence N89°48 'W, a distance of 25 . 5 feet to
the existing Southeast property corner;
4 . Thence along the existing West right of way of
S.H. No. 3 , N7°18' 30"W, a distance of 332. 9
feet to a point on the North line of Section
29;
5 . Thence along the North line of Section 29 ,
589°48 'E, a distance of 39. 1 feet, more or
less , to the Point of Beginning.
8 . Right to deny or restrict each and every right of access to
and from the Land insured hereby, directly onto abutting
street or highway designated as State Highway No. 3 , along or
across a line described as follows:
F 006-1 (19) Parcel No. 6A Westerly Line
Beginning at a point on the South property line from which
point the Northwest corner of Section 29 , Township 11 North,
Range 66 bears N84°54 'W a distance of 3 , 861. 4 feet;
1. Thence N 4°44'W a distance of 205. 6 feet;
2. Thence along the arc of a curve to the left, having a
radius of 5 , 578 . 0 feet, a distance of 96. 0 feet, the
chord of this arc bears N5°14 'W a distance of 96. 0 feet
to a point on the South County Road right of way by
reason of a grant or relinquishment of said access
right (s) by deed from Leo K. Wardman to the Department
of Highways , State of Colorado, recorded April 6, 1957 ,
in Book 1474 at page 492.
B 1105 REC 02045664 03/10/86 14: 58 $0. 00 6/006
F 1584 MARY ANN FEUERSTEIN CLERK & RECORDER WELD CO, CO
9. Oil and gas lease between Floyd V. Wardman and Leo K. Wardman
and R. E. Puckett dated July 1 , 1976 , recorded August 25 ,
1976 , in Book 775 as Reception No. 1697146, and any interests
therein or rights thereunder.
10. All mineral rights , as reserved by Leo Wardman in the
Agreement for Sale and Purchase of Vacant Land to Weld
County, a body corporate and politic of the State of
Colorado, recorded August 1 , 1985 , in Book 1079 as Reception
No. 2019273 , and any interests therein or rights thereunder.
11 . Right of First Refusal as reserved by Leo Wardman in the
Agreement for Sale and Purchase of Vacant Land to Weld
County, a body corporate and politic of the State of
Colorado, recorded August 1 , 1985 , in Book 1079 as Reception
No. 2019273.
12. Right reserved by Leo Wardman to state her desire to the Weld
County Engineer as to the placement of the grader shed upon
parcel at the engineering stage of its development in the
Agreement for Sale and Purchase of Vacant Land to Weld
County, a body corporate and politic of the State of
Colorado, recorded August 1 , 1985 , in Book 1079 as Reception
No. 2019273.
I+" FORM NO. .. ....C-50 _.4. ........ -.._ -4 . ..�� s.. ........ ..r�.. _.. .:.27 sr 7.4.27....ii N'T
4 Colorado Region Form 342 �)
ALTA Owners Policy—Form B—1970 ,
/ Amended 10-17-70
1 1
/ 1
1 r)
POLICY OF TITLE INSURANCE
1 I'
ISSUED BY h
1 TRANSAMERICA TITLE INSURANCE COMPANY
II
1 ,
4 SUBJECT TO THE SCHEDULE OF EXCLUSIONS FROM COVERAGE, THE EXCEPTIONS CON- h;
I II
1 TAINED IN SCHEDULE B AND THE PROVISIONS OF THE CONDITIONS AND STIPULATIONS 1
i HEREOF TRANSAMERICA TITLE INSURANCE COMPANY, a California corporation, herein called the14
Company, insures, as of Date of Policy shown in Schedule A, against loss or damage, not exceeding p1
4 the amount of insurance stated in Schedule A, and costs, attorneys' fees and expenses which the
1 Company may become obligated to pay hereunder, sustained or incurred by the insured by reason of: I'
I
1 r'
1. Title to the estate or interest described in Schedule A being vested otherwise than as stated therein; 1
4 le
1 14
2.Any defect in or lien or encumbrance on such title; hl
1 pi
I1
/ 3. Lack of a right of access to and from the land; or ri
I a `
11 '
4. Unmarketability of such title. N
1 ,
1 1
1 IN WITNESS WHEREOF, Transamerica Title Insurance Company has caused this policy to be signed ;
1
1 and sealed by its duly authorized officers as of Date of Policy shown in Schedule A. i1
1 h
r,
7II
Ph
1 1'
1
/
Transamerica Title Insurance Company
op „ae"a 4,r v
By President
1
1 ' 47{Y '
ILL
�By .� Secretary
fit Iii r.yre,°sy '
SCHEDULE OF EXCLUSIONS FROM COVERAGE
The following matters are expressly excluded from the coverage of this policy:
1. Any law, ordinance or governmental regulation (including but not limited to building and zoning ordinances) re-
stricting or regulating or prohibiting the occupancy, use or enjoyment of the land, or regulating the character,
dimensions or location of any improvement now or hereafter erected on the land, or prohibiting a separation in
ownership or a reduction in the dimensions or area of the land, or the effect of any violation of any such law, ordi-
nance or governmental regulation.
2. Rights of eminent domain or governmental rights of police power unless notice of the exercise of such rights appears
in the public records at Date of Policy.
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 and not shown by the public records but known to the insured
claimant either at Date of Policy or at the date such claimant acquired an estate or interest insured by this policy
and not disclosed in writing by the insured claimant to the Company prior to the date such insured claimant became
an insured hereunder; (c) resulting in no loss or damage to the insured claimant; (d) attaching or created subse-
quent to Date of Policy; or (e) resulting in loss or damage which would not have been sustained if the insured claim-
ant had paid value for the estate or interest insured by this policy.
CONDITIONS AND STIPULATIONS
1. DEFINITION OF TERMS (b) The insured shall notify the Company promptly in
de-
The following terms when used in this policy mean: writing (i) in case any action or proceeding is begun or fense is interposed as set forth in (a) above, (ii) in case knowl-
(a) "insured": the insured named in Schedule A, and, edge shall come to an insured hereunder of any claim of title
subject to any rights or defenses the Company may have or interest which is adverse to the title to the estate or interest,
against the named insured, those who succeed to the interest as insured, and which might cause loss or damage for which
of such insured by operation of law as distinguished from the Company may be liable by virtue of this policy, or (iii) if
purchase including, but not limited to, heirs, distributees, title to the estate or interest, as insured, is rejected as un-
devisees, survivors, personal representatives, next of kin, or marketable. If such prompt notice shall not be given to the
corporate or fiduciary successors. Company, then as to such insured all liability of the Company
(b) "insured claimant": an insured claiming loss or,dam- shall cease and terminate in regard to the matter or matters
age hereunder. for which such prompt notice is required; provided, however,
that failure to notify shall in no case prejudice the rights of any
(c) "knowledge": actual knowledge, not constructive such insured under this policy unless the Company shall be
knowledge or notice which may be imputed to an insured by preiudiced by such failure and then only to the extent of
reason of any public records. such prejudice.
(d) "land": the land described, specifically or by reference (c) The Company shall have the right at its own cost to
in Schedule A, and improvements affixed thereto which by law institute and without undue delay prosecute any action or
constitute real property; provided, however, the term `land" proceeding or to do any other act which in its opinion may be
does not include any property beyond the lines of the area necessary or desirable to establish the title to the estate or
specifically described or referred to in Schedule A, nor any interest as insured, and the Company may take any appro-
right, title, interest, estate or easement in abutting streets, priate action under the terms of this policy, whether or not
roads, avenues, alleys, lanes, ways or waterways, but nothing it shall be liable thereunder, and shall not thereby concede
herein shall modify or limit the extent to which a right of liability or waive any provision of this policy.
access to and from the land is insured by this policy.
(e) "mortgage": mortgage, deed of trust, trust deed, or (d) Whenever the Company shall have brought any action
other security instrument. or interposed a defense as required or permitted by the pro-
( visions of this policy, the Company may pursue any such
f) "public records": those records which by law impart
constructive notice of matters relating to said land. litigation to final determination by a court of competent juris-
diction and expressly reserves the right, in its sole discretion,
to appeal from any adverse judgment or order.
2. CONTINUATION OF INSURANCE AFTER CONVEYANCE OF (e) In all cases where this policy permits or requires the
TITLE
Company to prosecute or provide for the defense of any action
The coverage of this policy shall continue in force as of or proceeding, the insured hereunder shall secure to the
Date of Policy in favor of an insured so long as such insured Company the right to so prosecute or provide defense in such
retains an estate or interest in the land, or holds an indebted- action or proceeding, and all appeals therein, and permit the
ness secured by a purchase money mortgage given by a pur- Company to use, at its option, the name of such insured for
chaser from such insured, or so long as such insured shall such purpose. Whenever requested by the Company, such
have liability by reason of covenants of warranty made by insured shall give the Company all reasonable aid in any such
such insured in any transfer or conveyance of such estate or action or proceeding,in effecting settlement,securing evidence,
interest; provided, however, this policy shall not continue in obtaining witnesses, or prosecuting or defending such action
force in favor of any purchaser from such insured of either or proceeding, and the Company shall reimburse such insured
said estate or interest or the indebtedness secured by a pur- for any expense so incurred.
chase money mortgage given to such insured.
4. NOTICE OF LOSS— LIMITATION OF ACTION
3. DEFENSE AND PROSECUTION OF ACTIONS—NOTICE OF In addition to the notices required under paragraph 3(b)
CLAIM TO BE GIVEN BY AN INSURED CLAIMANT of these Conditions and Stipulations, a statement in writing
(a) The Company, at its own cost and without undue of any loss or damage for which it is claimed the Company
delay, shall provide for the defense of an insured in all litiga- is liable under this policy shall be furnished to the Company
tion consisting of actions or proceedings commenced against within 90 days after such loss or damage shall have been de-
such insured, or a defense interposed against an insured in an [ermined and no right of action shall accrue to an insured
action to enforce a contract for a sale of the estate or interest claimant until 30 days after such statement shall have been
in said land, to the extent that such litigation is founded upon furnished. Failure to furnish such statement of loss or damage
an alleged defect, lien, encumbrance, or other matter insured shall terminate any liability of the Company under this policy
against by this policy. as to such loss or damage.
Continued on Front of Back Cover
T A��m< DIVISION OF INSURANCE
�h/as7S 0 DEPARTMENT OF REGULATORY AGENCIES
m / ; 106 STATE OFFICE BUILDING • 201 E.COLFAX AVE.
DENVER.COLORADO 80203
STATE OF COLORADO
RICHARD D. LAMM
J.RICHARD BARNES.C L U May 1, 1977
CCMMISSIONEP
ROBERT DEPUTY Co,.MAoo YR
Dear Real Estate Purchaser:
Following this letter you will find a brief explanation of your title
insurance commitment and policy.
Title insurance companies are regulated by this Division, as are
other types of insurance companies. This Division makes certain that com-
panies issuing title insurance commitments and title insurance policies are
financially sound, and that they operate in accordance with statutes and
regulations.
We also have a great interest in making certain that you, as the
consumer, understand the purpose of title insurance and that you understand
your rights under your insurance policy.
In the event you are dissatisfied with responses given to your ques-
tions or problems by your title insurance company, you are encouraged to
send your questions concerning title insurance or any complaints that you
may have against your title insurer to this office. We are on hand to make
certain that all your rights and remedies, both under your policy and under
law, are available to you at all times.
Sincerely,
CHARD BARNES, C.L.U.
Commissioner of Insurance
JRB:b1
As a purchaser of a home or other real estate you may receive a"Commitment for Title Insurance"and a"Policy of Title Insurance'.'Both of
these documents, like many others in connection with your purchase,are contracts creating legal rights which you should read carefully and
which you may wish to have examined and explained by a lawyer or other adviser.While the following description of these documents cannot
change the precise terms of these documents, it is hoped that this will help you to understand their purpose and effect and answer some of
your questions about them.
QUESTION:"WHAT IS TITLE INSURANCE?"
ANSWER: Basically, it is a contract with the title insurance company in which the company agrees to defend and indemnify you against
losses which you may suffer because of unreported defects in the title to your property as of the date of the contract. It is not casualty
insurance and, therefore, does not protect you against acts of theft or damage to your home by fire, storm and the like. Essentially, the
insurance insures that you have title to the property subject only to certain exceptions and exclusions listed in the Policy of Title Insurance.
Title insurance recognizes the possibility of loss, but transfers the risk of loss from you as property owner to the company issuing the policy.
For this reason title insurance companies are required to maintain reserves to cover losses.
If you are financing your purchase,your lender will ordinarily require that you obtain a separate Lender's Policy to insure that your property
will in fact serve as security for its loan.
QUESTION:"WHAT DOES THE PREMIUM PAY FOR?"
ANSWER:The one time, non-recurring premium pays for several things. It helps to pay for the cost of collecting, maintaining,searching
and examining real estate records and certain other public records which relate to your property so that the title insurance company can
determine the insurability of your title. For example, the title insurance company will determine whether the public records show that your
seller really owns the property, what mortgages or liens (a recorded legal claim) may exist, whether there are restrictive covenants on your
CONTINUED ON REVERSE
property or easements which allow perso.is to cross your property or to place utilities across ywr property.The premium also serves to finance
certain legal costs which may arise if your title is challenged. Additionally, payment of the premium requires the title insurance company to
indemnify you for any losses you suffer as a result of the title company's failure to fulfill its contractual obligations under your title policy.
QUESTION:"WHAT IS A COMMITMENT FOR TITLE INSURANCE?"
ANSWER: A Commitment for Title Insurance is a standardized preliminary document authorized by the Commissioner of Insurance
indicating that a title insurance company will issue a title insurance policy to you after certain steps have been taken, such as the payment
of an outstanding mortgage or lien and the issuance of a deed to you. These steps are set out in the commitment as "requirements" in
Schedule B—Section 1, In Schedule B—Section 2 "Exceptions;' the commitment also summarizes certain existing limitations on the use of
your property,the defects in your title and liens against your property.Your policy will not protect you against these matters.You will note that
some of these limitations and defects may still exist even after all of the requirements of the commitment have been met.These other matters
are usually such things as restrictive covenants or easements for utilities and the like.You should carefully read both the"requirements"and
the exceptions to title stated in the commitment so that you may raise objections if there are matters affecting the title to which you did not
agree when you signed the contract to purchase your property
Some of the "exceptions" are standard and will not normally be covered by your title policy.The first standard exception is any claim by
parties in possession of the property which is not shown by the public records.This means,for example,that someone may have been living
on the property for a long period of time and may claim that they own the property, even though they do not have a recorded deed;or may
claim that they are somehow otherwise entitled to be on the property.The title insurance company could not learn of such a claim by examining
the public real estate records.You should inspect the property to make sure that anyone living there will respect your ownership.
Exception 2 of Schedule B similarly may mean that someone has used a portion of the property long enough to claim an easement,even
though there is no instrument of record giving that person the authority to do so.
Exception 3 of the standard commitment in essence says that the title insurance policy will not insure against problems concerning
the exact boundary lines of the property you are purchasing, which means that you should make certain that there are no fences or other
encroachments on your property, particularly if you do not have a survey Again, a title insurance company cannot determine whether such
problems exist on your property because employees of the title insurance company will not inspect the property unless they are specially
requested and paid to do so.
Exception 4 excludes liens which may be filed against your property by someone who may have done work on the property and who
has not been paid.The title insurance company does not have any way of determining whether such claims may exist in the absence of some
recorded document.You may wish to verify that no such unsatisfied claims exist.
The fifth standard exception is for matters which may arise following the issuance of the commitment and before you complete your
purchase. Many companies also exclude taxes and special assessments which may be imposed against your property which are not recorded
in the public records,or the amount of which has not yet been determined.
If you are purchasing a single family residence, you may wish to check to see if you are entitled to obtain endorsement Form No. 130
which removes several of the standard exceptions and will give you insurance for some of those matters.
You will see that the commitment shows the amount of title insurance to be issued, together with the amount of the premium charge.
Your seller should check with his broker and with the title insurance company issuing the commitment to make certain that he has paid the
lowest premium to which he is entitled. For instance, if there has been a title insurance policy issued to your seller within the last two years,
he may be entitled to receive some credit for the prior premium against the amount of premium which he will now pay.
QUESTION:"WHAT IS THE POLICY OF TITLE INSURANCE?"
ANSWER:The Policy of Title Insurance is a document which will be issued to you after your purchase transaction is concluded. It,too, is
a standardized document,the printed portions of which have been approved by the Commissioner of Insurance.
Schedule A of your policy will set forth,among other matters,the amount of insurance coverage,your name as the insured,your interest
in the property,such as actual ownership or a leasehold interest,and the legal description of the property.
Your title insurance policy, as any other insurance policy, has exceptions from coverage. These will be set forth in Schedule B of your
policy and in the Schedule of Exclusions from Coverage.Matters which may limit coverage will be set forth in the"Conditions and Stipulations"
section of the policy.
In Schedule B of the policy,you will find those items against which the title insurance company does not,or cannot,insure.Many of these
will be the same as the exceptions set out in Schedule B of the Title Commitment.
The Schedule of Exclusions from Coverage excludes matters such as zoning ordinances which regulate how the property may be used,
rights which may be possessed by a governmental body and which might be exercised against the property,and any defects of which you may
be aware but have not informed the title insurance company. You may desire to investigate the status of these matters before you complete
your purchase. Also excluded are defects or encumbrances which may be placed upon the property subsequent to the date of the policy
You should remember that a title policy is not a promise of indemnity against some defect or claim against your title which may be created
in the future. It does protect you against loss or damage existing from defects in the title to real property existing prior to and as of the date
of the policy even though they may not be discovered until some future date.
The language concerning Conditions and Stipulations under which the title insurance company issues its policy contains an explanation
of the terms of the policy, and also deals with how you should notify the title insurance company in the event you may believe that you may
have a claim under the policy. If someone should assert that they have a right to use your property or that they own part of it,and you cannot
find that right set forth in your policy as an exception or an exclusion,you must notify the title insurance company in writing of the situation.
The address for this notification will normally appear in your policy. Prompt notification will enable you and the company to deal with the
matter or problem that you raise,if it is covered by the policy,so that the dispute may be resolved in as timely a manner as possible.
You should know that if the problem is covered by your title insurance policy, a title insurance company must usually bear the costs of
litigation, either to defend your title in the event of an adverse claim against it, or sometimes to bring affirmative legal action to clear up the
problem. In so doing,the title insurance company retains the right of settling the claim or pursuing the matter through the courts,if it believes
that the rights asserted by a third party against your property are not legally justified. If the title insurance company takes the position that the
matter which you raise is not covered by the terms of the title insurance policy, it must so notify you as soon as reasonably possible after
you present your claim.
QUESTION: "WHAT IF I STILL HAVE FURTHER QUESTIONS ABOUT THE COMMITMENT FOR TITLE INSURANCE OR POLICY OF
TITLE INSURANCE?"
ANSWER: You should certainly ask them of your attorney,the seller, the lender or the title insurance company. If you do not receive a
satisfactory answer to your questions,you may contact the office of the ColoradoCommissioner of Insurance,J.Richard Barnes,Commissioner,
Department of Regulatory Agencies,106 State Office Building,Denver,Colorado 80203,
Form No.C-142.13
FORM NO. C-5OOO-1
FOR USE WITH COLORADO REGION AMERICAN LAND TITLE ASSOCIATION OWNER'S POLICY-FORM B- 1970 (AMENDED 10-17-70)
SCHEDULE A
Policy No. 8020792
Amount of Insurance$ 2 , 400 . 00 Order No.
Date of Policy March 11 , 1986 Sheet 1 of 4
7 : 00 A.M.
1. Name of Insured:
COUNTY OF WELD,
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:
IN FEE SIMPLE
3. The estate or interest referred to herein is at Date of Policy vested in:
COUNTY OF WELD,
a Body Corporate and Politic of
the State of Colorado
FORM NO. C-6000-2
FOR USE WITH COLORADO REGION AMERICAN LAND TITLE ASSOCIATION LOAN POLICY 1970 (AMENDED 10-17-70)
FOR USE WITH COLORADO REGION AMERICAN LAND TITLE ASSOCIATION OWNER'S POLICY-FORM 8-1970 (AMENDED 10-17-70)
8020792
Sheet 2 of 4
SCHEDULE A—Continued
The land referred to in this policy is situated in the State of Colorado, County of
Weld , and is described as follows:
Lot A of Recorded Exemption No . 0203-29-1-RE823 , recorded
January 31, 1986 in Book 1101 as Reception No . 2041280 ,
being a part of the following described property :
That portion of the NEa of Section 29 , Township 11 North,
Range 66 West of the 6th P .M. , being more particularly
described as follows :
BEGINNING at a point on the West R.O.W. line of U.S . Highway
85 , where said line intersects the North line of the E1/2 of
Section 29 , said point being the TRUE POINT OF BEGINNING;
thence West along said North line of the Ell of Section 29
to the Northwest corner of the NEa of said Section;
thence South 330 feet;
thence East to the West R.O.W. line of U.S . Highway 85 ;
thence Northwesterly along said West R.O.W. line of U.S .
Highway 85 to the TRUE POINT OF BEGINNING.
FORM NO. C-6OOO-3B
FOR USE WITH COLORADO REGION AMERICAN LAND TITLE ASSOCIATION OWNER'S POLICY-FORM B-1870 (AMENDED 10-17-70)
8020792
Sheet 3 of 4
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.
3. Discrepancies, conflicts in boundary lines, shortage in area, encroachments, and any facts which a cor-
rect 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. 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.
6 . Rights of way for county roads 30 feet wide on each side of section
and township lines , as established by order of the Board of County
Commissioners for Weld County, recorded October 14 , 1889 in Book '
86 at Page 273 .
7 . Right of way for public highway, as granted to Weld County by
Sidney Speer and E .J. Speer by Right of Way Deed recorded July
17 , 1925 in Book 779 at Page 261 , affecting the following described
property:
A tract of land situated in Section 29 , Township 11 North, Range
66 West, more particularly described as follows :
A strip of land 80 feet wide, 40 feet on either side of the
following described center line of Colorado Highway No . 3 :
Beginning at a point on the South line of said Section 29 from
whence the Southeast corner of said Section 29 , bears S89°16 ' E, 744
feet distance , thence N7°00 'W, 5262 . 1 feet, more or less , to a
point on the North line of said Section 29 , from whence the North-
east corner of said Section 29 , bears S89°26 'E, 1468 feet distant .
NOTE: The following described tract of land is conveyed to Leo K.
Wardman by Weld County by Deed recorded January 16 , 1958
in Book 1494 at Page 81:
A tract or parcel of land in the NWa of the NEo of Section
29 , Township 11 North, Range 66 West of the 6th P .M. , said
tract or parcel being more particularly described as follows :
Beginning at a point on the North line of Section 29 , Township
11 North, Range 66 West, from which point the Northeast corner
of Section 29 bears S89°48 'E, a distance of 1, 454 .7 feet;
1 . Thence along the proposed West right of way of S .H. No . 3 ,
along the arc of a curve to the right, having a radius of
5 , 578 . 0 feet, a distance of 125 . 8 feet, the chord of this
arc bears S5°23 'E, a distance of 125 .7 feet;
2 . Thence along the proposed West right of way of S .H. No . 3 ,
S4°44 ' E , a distance of 205 .6 feet;
3 . Thence N89°48 'W, a distance of 25 .5 feet to the existing
Southeast property corner;
FORM NO. C-8OOO-3C
FOR USE WITH COLORADO REGION AMERICAN LAND TITLE ASSOCIATION LOAN POLICY 1970 (AMENDED 10.17-70)
FOR USE WITH COLORADO REGION AMERICAN LAND TITLE ASSOCIATION OWNER'S POLICY-FORM B-1970 (AMENDED 10-17-70)
8020792
Sheet 4 of 4
SCHEDULE B—Continued
Exception No . 7 Continued
4 . Thence along the existing West right of way of S .H. No . 3 ,
N7°18 ' 30"W, a distance of 332 . 9 feet to a point on the North
line of Section 29;
5 . Thence along the North line of Section 29 , S89°48 'E, a
distance of 39 . 1 feet, more or less , to the Point of Beginning .
8 . Right to deny or restrict each and every right of access to and
from the Land insured hereby, directly onto abutting street or
highway designated as State Highway No . 3 , along or across a line
described as follows :
F 006-1 (19) Parcel No . 6A Westerly Line
Beginning at a point on the South property line from which point
the Northwest corner of Section 29 , Township 11 North, Range 66
West bears N84°54 'W a distance of 3 , 861.4 feet;
1 . Thence N4°44 'W a distance of 205 . 6 feet;
2 . Thence along the arc of a curve to the left , having a radius
of 5 , 578 . 0 feet, a distance of 96 . 0 feet, the chord of this arc
bears N5°14 'W a distance of 96 .0 feet to a point on the South
County Road right of way by reason of grant or relinquishment
of said access right (s) by deed from Leo K. Wardman to the
Department of Highways , State of Colorado, recorded April 6 , 1957
in Book 1474 at Page 492.
9 . Oil and gas lease between Floyd V. Wardman and Leo K. Wardman and
R.E. Puckett dated July 1, 1976 , recorded August 25 , 1976 in Book
775 as Reception No . 1697146 , and any interests therein or rights
thereunder.
10. All mineral rights, as reserved by Leo Wardman in the Agreement for
Sale and Purchase of Vacant Land to Weld County, a body corporate
and politic of the State of Colorado, recorded August 1 , 1985 in Book
1079 as Reception No. 2019273 and as evidenced by Deed recorded March
10, 1986 in Book 1105 as Reception No. 2045664, and any interests
therein or rights thereunder.
11 . Right of First Refusal as reserved by Leo Wardman in the Agreement for
Sale and Purchase of Vacant Land to Weld County, a body corporate and
politic of the State of Colorado, recorded August 1 , 1985 in Book 1079
as Reception No. 2019273 and as evidenced by Deed recorded March 10, 1986
in Book 1105 as Reception No. 2045664 .
Continued from Back of Front Cover
5. OPTIONS TO PAY OR OTHERWISE SETTLE CLAIMS interest covered by amount so paid shall
be deemed a payment this under this the policy to said insured owner.
The Company shall have the option to pay or otherwise
settle for or in the name of an insured claimant any claim in- 10. APPORTIONMENT
sured against or to terminate all liability and obligations of
the Company hereunder by paying or tendering payment of If he landich ade not usedin a Schedule consite, ists
two
ioremore
the amount of insurance under this policy together with any parcels
b-
costs, attorneys' fees and expenses incurred up to the time lished affecting one or more of said parcels but not all, the
of such payment or tender of payment, by the insured claim- loss shall be computed and settled on a pro rata basis as if
ant and authorized by the Company. the amount of insurance under this policy was divided pro
rata as to the value on Date of Policy of each separate parcel
6. DETERMINATION AND PAYMENT OF LOSS to the whole, exclusive of any improvements made subsequent
to Date of Policy, unless a liability or value has otherwise
(a) The liability of the Company under this policy shall been agreed upon as to each such parcel by the Company and
in no case exceed the least of: the insured at the time of the issuance of this policy and
(i) the actual loss of the insured claimant; or shown by an express statement herein or by an endorsement
attached hereto.
(ii) the amount of insurance in Schedule A.
(b) The Company will pay, in addition to any loss insured 11_ SUBROGATION UPON PAYMENT OR SETTLEMENT
against by this policy, all costs imposed upon an insuredin liti- Whenever the Company shall have settled a claim under
gation carried on by the Company for such insured, and all P y
costs, attorneys' fees and expenses in litigation carried on by this policy, all right of subrogation shall vest in the Company
such insured with the written authorization of the Company. unaffected by any act of the insured claimant. The Company
shall be subrogated to and be entitled to all rights and reme-
(c) When liability has been definitely fixed in accordance dies which such insured claimant would have had against any
with the conditions of this policy, the loss or damage shall be person or property in respect to such claim had this policy not
payable within 30 days thereafter. been issued. and if requested by the Company, such insured
claimant shall transfer to the Company all rights and remedies
7. LIMITATION OF LIABILITY against any person or property necessary in order to perfect
such right of subrogation and shall permit the Company to
No claim shall arise or be maintained under this policy use the name of such insured claimant in any transaction or
(a) if the Company, after having received notice of an alleged litigation involving such rights or remedies. If the payment
defect, lien or encumbrance insured against hereunder, by does not cover the loss of such insured claimant, the Company
litigation or otherwise, removes such defect, lien or encum- shall be subrogated to such rights and remedies in the pro-
brance or establishes the title, as insured, within a reasonable portion which said payment bears to the amount of said loss.
time after receipt of such notice; (b) in the event of litigation If loss should result from any act of such insured claimant,
until there has been a final determination by a court of com- such act shall not void this policy, but the Company, in that
petent jurisdiction, and disposition of all appeals therefrom, event, shall be required to pay only that part of any losses
adverse to the title. as insured, as provided in paragraph 3 insured against hereunder which shall exceed the amount, if
hereof; or (c) for liability voluntarily assumed by an insured any, lost to the Company by reason of the impairment of the
in settling any claim or suit without prior written consent of right of subrogation.
the Company.
12. LIABILITY LIMITED TO THIS POLICY
8. REDUCTION OF LIABILITY This instrument together with all endorsements and other
All payments under this policy, except payments made for instruments, if any, attached hereto by the Company is the
costs, attorneys' fees and expenses, shall reduce the amount entire .policy and contract between the insured and the
of the insurance pro tanto. No payment shall be made without Company.
producing this policy for endorsement of such payment unless Any claim of loss or damage, whether or not based on
the policy destruction r lost or shall b destroyed, in which the proof tif such negligence, and which arises out of the status of the title to
loss or n be furnished to the satisfaction of the estate or interest covered hereby or any action asserting
the Company. such claim, shall be restricted to the provisions and conditions
and stipulations of this policy.
9. LIABILITY NONCUMULATIVE No amendment of or endorsement to this policy can be
It is expressly understood that the amount of insurance made except by writing endorsed hereon or attached hereto
under this policy shall be reduced by any amount the Com- signed
ned Assistant either
Secretary,Pesiden ,v a Vice President,
si n or the Secret tr
pany may pay under policy insuring either (a) a mortgage
ed
shown or referred to in Schedule B hereof which is a lien on signatory of the Company.
the estate or interest covered by this policy, or (b) a mortgage
hereafter executed by an insured which is a charge or lien on 13. NOTICES, WHERE SENT
the estate or interest described or referred to in Schedule A, All notices required to be given the Com an and
and the amount so paid shall be deemed a payment under this pany any
policy. The n such shall have n the option o apply the i the pay- statement
h ll benaddre addressed writing Transamerica Title Insurance Com the pany,
meet of any such mortgagesh any amount that otherwise would
be payable hereunder to the insured owner of the estate or p, O. Box 605, Denver, Colorado 80201.
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