HomeMy WebLinkAbout870408.tiff RESOLUTION
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U RE: APPROVE AGREEMENT WITH ESTHER HAGAR AND MARYANN HAGAR MYHR
N FOR SALE AND PURCHASE OF REAL ESTATE AND AUTHORIZE CHAIRMAN
TO SIGN
a
a
o Z WHEREAS, the Board of County Commissioners of Weld County,
o x Colorado, pursuant to Colorado statute and the Weld County Home
4- 111 Rule Charter, is vested with the authority of administering the
affairs of Weld County, Colorado, and
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x WHEREAS, the Board has been presented with an agreement
,_; 'a between Weld County, Colorado, and Esther Hagar and Maryann Hagar
rig Myhr for the sale and purchase of a certain parcel of land,
w including all improvements thereon , and
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a H WHEREAS, said parcel of land is described as being located in
1/40 H the NW4 NEQ of Section 1 , Township 6 North , Range 67 West of the
o a 6th P.M. , Weld County, Colorado, and
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o 44 WHEREAS , the purchase of said parcel is for the purpose of
o z placing a grader shed at said location , and
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U WHEREAS , after study and review, the Board deems it advisable
a to approve said agreement, a copy of which is attached hereto and
incorporated herein by reference. ,
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NOW, THEREFORE, BE IT RESOLVED by the Board of County
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Commissioners of Weld County, Colorado, that the above mentioned
Agreement for Sale and Purchase of Real Estate with Esther Hagar
and Maryann Hagar Myhr, be , and hereby is , approved.
BE IT FURTHER RESOLVED by the Board that the Chairman be, and
hereby is , authorized to sign said Agreement.
? — _.s,,:.
870408
Page 2
RE: PURCHASE AGREEMENT - HAGAR & MYHR
1/4oO
o U The above and foregoing Resolution was , on motion duly made
and seconded, adopted by the following vote on the 27th day of
° o May, A.D. , 1987.
�-7 � - BOARD OF COUNTY COMMISSIONERS
0 3 ATTEST: tAil `lLef-rt' WELD CO NTY COLORADO
eft
o w Weld dAka;mat Recorder �
and Cl Ytc ` t aYd Go T�aisc airman
511
M a BY: K1 � by, C V. Kirb , Pr Tem
Deput County Clerk
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APPROVED AS TO FORM: ene B ntner
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EXCUSED DATE OF SIGNING - AYE
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o r Jac el ' Johnso
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o 14 -., 'County Attorney
Frank Yamaguchi
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870408
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0o O 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.
C] The GRANTOR hereby sells and conveys the property to the GRANT EE and the GRANTOR warrants the title to
t•1 the property. except for(1)the lien of the general property taxes for the year of this deed, which the GRANT E E
0 3 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"
o W
aThe specific terms of this deed are:
O GRANTOR: (—we namelsl and placers) of residence: if the spouse of the owner-grantor is rommg in this Deed to release homestead rights.
•
w identify grantors as husband and wife.)
en Esther Hagar and Maryann Hagar Myhr, c/o Roy Schneider, Route 2, Eaton,
sa Colorado 80615
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WGRANTEE: Gee flamers) and addressles), statement of address, including available toad or street number. is required )
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V Weld County, Colorado, a body corporate and politic of the State of Colorado
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p co FORM OF CO-OWNERSHIP: (11 there are two of more grantees named, they will be considered to take as tenants in common unless
p4 the words"in joint tenancy"or words of the some meaning are added in the spare below.)
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eV PROPERTY DESCRIPTION: (Include county and state.)
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o See the legal description of the attached Plat of Survey, denoted as Exhibit "A."
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CONSIDERATION: (The statement of a dollar amount is optional: adequate consideration for this deed pill he presumed unless this
°rives ante is identified as a gift: in any case this conveyance is absolute. final and unconditional )
NINE THOUSAND AND NO/HUNDREDTHS DOLLARS
RESERVATIONS-RESTRICTIONS: w theGRANTOR intends to reserve any interest in the property or to convey less than he owns, or
it the GRANTOR is restricting the GRANDE'S rights in the property, make appropriate indication )
Any and all mineral interests lying beneath the above-described property.
•
ADDITIONAL WARRANTY EXCEPTIONS: (Include mortgages being assumed and other matters nm covered above )
Signed on May 19, . 19 87 .
Attest: STHER HAGAR Gr ntor
'u
Grantor
STATE OF(AN M )COUNTY OF ) ss' Grantor The foregoing instrument was acknowledged before me this day of , 19
by
V1'ITNESS my hand and official seal.
My commission expires:
Notary Public
STATE OF IOWA
COUNTY OF BLACK HAWK ) ss'
The foregoing instrument was acknowledged before me t REF .41ay of May , 1 87
by Esther Hagar and Maryann Hagar Myhr. " ' '•.
WITNESS my hand and official seal. a ;••
My commission expires: 8_15_87 =' •
O ' 4 •No_tar tic
•
1977 UPDATE LEGAL FORMS ♦ �] •
NO. 701
♦
P.O. BOX 1815, GREELEY, COLORADO 80632 ( � M 0 1 870408
•
P _ AT OF SURVLY\V L Y EXHIBIT "A" ,
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02 o -/ — N.89°24'22" E.. 2
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o 220.00
h w N.E. COR.
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, LEGAL FFSoRM'TT0N
A tract of land located :u the Northwest Quarter of the Northeast Quarter (NWi:.NE`) of
. ction 1 , Township 6 North , Range 67 West of the 6th P.M. , Weld County, Colorado, being
more particularly described as follows: Beginning at the North Quarter Corner (N1 Cor) of
said Section 1 and considering the North line of said Section 1 as bearing North 89' 24'22"
Fast with all other bearings contained herein relative thereto; Thence North 89°24' 22" East
along said North section line, 36.00 feet; Thence South 00°35'38" East 30.00 feet to the
ThUF POINT OF BEGINNING; Thence North 89'24' 22_" East, 220.00 feet; Thence South 00°35'38"
::ast, 396.00 feet; Thence South 89°24'22" West, 220.00 feet; Thence North 00'35' 38" West,
396.00 feet to the TRUE POINT OF BEGINNING. Said described parcel contains 2.00 acres,
more or less, and is subject to any rights-of-way or other easements as recorded by instru-
r.,ents of record or as now existing or said described parcel of land.
SURVEYOR'S CERTIFICATE
I do hereby certify that I have prepared this plat and legal desert 3 i�fsj”i,. an actual and
accurate survey of the land completed on April 4, 1987 and t� he .cAjnet,jpins shown
r , taEo r
1 hcreon were properly placed under my supervision. ,,
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Jas r •re 3 o. 8'7040
Colo do\•P.E 4''J S. 4392.—'
ESTHER & MARY ANN HAGAR • :":.a;•C$'
PROJECT: 1987-62 FREESE ENGINEERING %..srATE0 a RIL , 1987
AR2102014 AGREEMENT FOR SALE AND PURCHASE OF REAL ESTATE
INCLUDING LAND AND ALL IMPROVEMENTS
`o O THIS AGREEMENT, made at Greeley, Colorado, this 27th day of
o v May , 1987 , between WELD COUNTY, COLORADO, a body
corporate and politic of the State of Colorado, hereinafter
o "Purchaser, " and ESTHER HAGAR and MARYANN HAGAR MYHR , c/o ROY
A SCHNEIDER, Route 2 , Eaton, Colorado 80615 , hereinafter "Seller. "
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o WITNESSETH:
orx
'} W That in consideration of the payment by the Purchaser to
g Seller of the sum of NINE THOUSAND DOLLARS ($9 , 000. 00) , in cash ,
wand other good and valuable consideration, Seller agrees to sell
x to the Purchaser and Purchaser agrees to purchase from Seller the
following described real property: A Parcel of land approximately
° two (2) acres in size and all improvements thereon within the
a following tract: Northeast i of Section 1 , Township 6 North,
w Range 67 West of the 6th P.M. , Weld County , Colorado. Said
m o parcel of land and all improvements thereon is hereinafter
z referred to as the "Parcel" according to the terms and conditions
01-4 set forth herein.
Lo E
CD a The agreement of sale and purchase of Parcel is subject to
41 the following conditions:
.� w
0 w 1 . Seller shall furnish to Purchaser a Warranty Deed
o z covering only the surface rights of the Parcel. Title insurance
N gg may be provided by Purchaser at its option.
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Uc4 2 . Title shall be merchantable in Seller, except as stated
a R in this paragraph and in paragraph 5. Subject to payment or
r tender as above provided and compliance by Purchaser with the
co
ink other terms and provisions hereof, Seller shall execute and
,rir-i-,-, deliver a good and sufficient warranty deed to Purchaser on a date
w w certain set by Purchaser, conveying the property free and clear of
all taxes, except general taxes for 1987 , payable January 1 , 1988 ,
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.
3 . General taxes for the year 1987 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 Purchaser.
Page 1 of 4 Pages 870408
5. Except as stated in paragraph 2 and this paragraph, if
title is not merchantable and written notice of defect (s) is given
by Purchaser or Purchaser' s agent to Seller or Seller' s agent on
or before the date of closing, Seller shall use reasonable efforts
o to correct said defect (s) prior to the date of closing. If Seller
o u is unable to correct said defect (s) on or before the date of
closing, at Seller' s option and upon written notice to Purchaser
cv o or Purchaser' s agent on or before the date of closing, the date of
closing shall be extended thirty (30) days for the purpose of
a correcting said defect (s) . Except as stated in paragraph 2 , if
0 3 title is not rendered merchantable as provided in this paragraph
5, at Purchaser' s option, this contract shall be void and of no
In-w effect and each party hereto shall be released from all
o obligations hereunder and all payments and things of value
• received hereunder shall be returned to Purchaser provided,
however, that in lieu of correcting such defect (s) , Seller may,
'o a within said thirty (30) days , obtain a commitment for a title
c a insurance policy in the amount of the purchase price and the
x Purchaser shall have the option of accepting the then existing
ra insured title in lieu of such merchantable title. The Seller
shall pay the full premium for such title insurance policy.
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• z 6. Time is of the essence hereof. If any note or check
w received as earnest money hereunder or any other payment due
o Cr) hereunder is not paid, honored, or tendered when due, or if any
w other obligation hereunder is not performed as herein provided,
there shall be the following remedies:
.Iw
o z (a) IF SELLER IS IN DEFAULT, (1) Purchaser may elect to
z treat this contract as terminated, in which case all payments
N and things of value received hereunder shall be returned to
a Purchaser and Purchaser may recover such damage as may be
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proper, or (2) Purchaser may elect to treat this contract as
being in full force and effect and Purchaser shall have the
w co right to an action for specific performance or damages , or
n ° both*
Mw (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
this contract as being in full force and effect and Seller
shall have the right to an action for specific performance or
damages, or both.
(c) Anything to the contrary herein notwithstanding, in the
event of any litigation arising out of this contract , the
court may award to the prevailing party all reasonable costs
and expenses , including attorney' s fees.
7 . Possession of Parcel shall be delivered to Purchaser
upon closing and shall not be subject to any leases or tenancies.
Seller shall assume all costs of compensating any tenants or
Page 2 of 4 Pages
870408
leaseholders for any damages as a result of the taking of any
remainder.
Le O 8 . The Seller represents and warrants as the day hereof and
o u as of the date of the closing that neither the execution of this
contract nor the consummation of the transaction provided for
O herein constitutes, or will result in, any breach of any of the
terms, conditions , or provisions, or constitute a default under,
w any indenture , charter, bylaw, mortgage , loan agreement , lien,
0
0 z lease, license, judgment, decree , order, instrument or other
o a verbal or written agreement to which Seller is a party of or is
4-43 subject to, or to which the property is subject to, except as
a provided herein.
0
w 9 . The sale herein contemplated is contingent upon an
M x adequate percolation test for septic system. Said test shall be
•• 'a paid for by Purchaser. This Agreement shall be void if the
ri
ri results of said percolation test indicate to Purchaser that
a
w percolation on the subject Parcel is inadequate for Purchaser' s
m v purposes .
o H 10 . Purchaser agrees to obtain a survey of the subject
w Parcel prior to the closing date so that a more accurate
VD
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description of Parcel may be contained in the warranty deed as
w required by paragraph 1 .
o w IN WITNESS HEREOF, the parties hereto have subscribed their
o z names this 27th day of May , 1987 .
oFC
ATTEST: aA A'-t 9.1 BOARD OF COUNTY COMMISSIONERS
U a WELD COUNTY, COLORADO
a Weld County C erk and Recorder /
and Clerk to the Board
co o+ By
rl m By: 0hie (7a� n h o f chaser
� r-i Deputy County Clerk
mw
(The following section to be completed by Seller)
Signed this 19th day of May
�, 1987 .
Esther Hagar ;7
SUBSCRIBED AND SWORN to before me this 19th/// day of
May , 1987.
WITNESS my hand and official se: l N , % OFFd
No ' ary Pu• i a a(rt ; ' "
Richard G. Zel l hoe Ti; ;et it
Q 1!'
My commission expires: 8-15-87 s0 le
s,, kb,.......
Page 3 of 4 Pages 13 ( H ,
870408
Signed this 19th day of May , 1987 .
`" v
o w Mary,angUagar
O3
o SUBSCRIBED AND SWORN to before me this 19th day of
May , 1987.
u WITNESS my hand and official seal.
W 1 J
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No ary P is 38
My commission expires: 8-15-87 Richard G. Zell /4,<O..!
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870408
Page 4 of 4 Pages
The printed portion of this form appro.ed by the
• Colorado Real Estate Commission ISS-60471)
STATEMENT OF SETTLEMENT
SELLER'S ❑ PURCHASER'S M
PROPERTY ADDRESS N/A
Esther Hager and Mary Ann Myhr Weld County, Colorado, a body
SELLER c/o Roy Schneider PURCHASER corporate and politic of the
State of Colorado
SETTLEMENT DATE DATE OF PRORATION 7
LEGAL DESCRIPTION:
Debit Credit
1. Selling Price 9000 00
2. Deposit, paid to
3. Trust Deed,payable to
4. Trust Deed, payable to
5. Trust Deed,payoff to
6. Interest on Loan Assumed
7. Title Ins.Premium Paid by Purchaser
8. Abstracting: Before Sale
9. After Sale
10. Title Exam. by
11. Recording: Warranty Deed Excempt §30-1-103, C.R.S.
12. Trust Deed
13. Release
14. Other
15. Documentary Fee Exempt §39-13-102, C.R.S.
16. Certificate of Taxes Due
17. Taxes for Preceding Year(s)
18. Taxes for Current Year
19. Tax Reserve
20. Special Taxes
21. Personal Property Taxes
22. Hazard Ins.Prem. Assumed—Policy No. Co.
$ Yr.Term Expires
Premium$ Days Unused at 0 per day
23. Premium for New Insurance
24. Hazard Ins. Reserve
25. FHA Mortgage Ins.Assumed
26. FHA Mortgage Ins.Reserve
27. Loan Service Fee (Buyer)
28. Loan Discount Fee (Seller)
29. Interest on New Loan
30. Survey and/or Credit Report
31. Appraisal Fee
32. Water and/or Sewer
33. Rents
34. Security Deposits
35. Loan Transfer Fee
36. Loan Payment Due
37. Broker's Fee
Sub-Totals 9000 00
S7�t i'L $ kIX/1fR itxx
natance dual/from Buyer 9000 00
TOTALS 9000 00 9000 00
The above figures do not include sales or use taxes on personal property
APPROVED and ACCEPTED '-9tn n "
Weld Co do ATTEST: IVl txt"^ Cen'
Purchaser/
gg�• Weld County Cl rk and Recorder
cy, airman and Clerk to the Board
Board of County. ommissioners /�
$ IIK 4SAINK of tha Crnmt F ii l d By 1V L.�) (L. Min/)bill,
Deputy County Clerk
Form No. C-836
870408
the printed portion of this Form approved by tF
• Colorado Real Eslale CommhsIoo Ititi•6O•7.7I)
STATEMENT OIL SETTLEMENT
} SELLER'S pi PURCHASER'S O
PROPERTY ADDRESS N/A
Esther Hagar and Maryann Hagar Mylir Weld County, Colorado, a body
SELLER c/o Roy Schneider -- PURCHASE'? corporate and politic of the
State of Colorado
I
SETTLEMENT DATR DATE OF PRORATION
LEGAL DESCRIPTION:
Debit Credit
1. Selling Price 9000 00
2. Deposit,paid to
3. Trust Deed,payable to _
4. Trust Deed,payable to --
5. Trust Deed,payoff to
6. Interest on Loan Assumed
7. Title Ins.Premium Paid by Purchaser
8. Abstracting: Before Sale
9. After Sale
10. Title Exam. by
11. Recording: Warranty Deed Exempt §30-1-103, C.R.S.
12. Trust Deed
13. Release
14. Other
15. Documentary Fee Exemat §39-13-102, C.R.S.
16. Certificate of Taxes Due
17. Taxes for Preceding Year(s)
18. Taxes for Current Year
19. Tax Reserve
20. Special Taxes
21. Personal Property Taxes
•
22. Hazard Ins.Prem. Assumed—Policy No. Co.
Yr.Term Expires
Premium$ Days Unused at _ 0 per day
23. Premium for New Insurance _
24. Hazard Ins. Reserve
25. FHA Mortgage Ins.Assumed
26. FHA Mortgage Ins.Reserve
27. Loan Service Fee (Buyer)
28. Loan Discount Fee (Seller)
29. Interest on New Loan T _
30_ Survey and/or Credit Report
31. Appraisal Fee
32. Water and/or Sewer
33. Rents
34. Security Deposits
35. Loan Transfer Fee
36. Loan Payment Due
37. Broker's Fee
Sub-Totals v—� 9000 100
Balance dune to/from Seller I 9000 00
limn IBC i tatecamoxli1U(IoRX
TOTALS 9000 } 00 9000 00
The above figures do not include sales or use taxes on personal property
- API'ROVEI) and ACCEPTED
• /
r c`'1 X..K4-11Selle ..r_.1.:< ' ' ''�.._—_ .....- Broker
gsther Hagar ,/
ni /Sellers i.^,; ' ' -- --= _- By
Maryann Hagar Myhr • •
Penn No.C•835 870498
FORM NO.C-5000
Colorado Region Form 342 r
1 ALTA Owners Policy—Form B-1970 6
/ Amended 10-17-70 t
'1 1
4 r II 61 1
1/
1 POLICY OF TITLE INSURANCE
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ISSUED BY �
',j TRANSAMERICA TITLE INSURANCE COMPANY
I/
/
1 SUBJECT TO THE SCHEDULE OF EXCLUSIONS FROM COVERAGE, THE EXCEPTIONS CON-
/
11 TAINED IN SCHEDULE B AND THE PROVISIONS OF THE CONDITIONS AND STIPULATIONS
HEREOF, TRANSAMERICA TITLE INSURANCE COMPANY, a California corporation, herein called the r
64 6
II Company, insures, as of Date of Policy shown in Schedule A, against loss or damage, not exceeding
I
It 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:
1
61 1.Title to the estate or interest described in Schedule A being vested otherwise than as stated therein;
II r
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2.Any defect in or lien or encumbrance on such title;61
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(' 3. Lack of a right of access to and from the land;or
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1
(; 4. Unmarketability of such title.
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1 IN WITNESS WHEREOF, Transamerica Title Insurance Company has caused this policy to be signed I
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1 and sealed by its duly authorized officers as of Date of Policy shown in Schedule A.
;1
04 J/
Transamerica Title Insurance Company
Area),
1-4
— n ,7 (' .¢
By r/ "G'fl '�16�- President
�'i �1,
By . - refit. ,/ In Secretary
870408
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
(b) for which such prompt notice is required; provided, however,
age hereunder. 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 prejudiced 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 beyohd the lines of the area necessary or desirable to establish the title to the estate or
specifically described or referred a e 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-
f) "public records": those records which by law impart visions of this policy, the Company may pursue any such
litigation to final determination by a court of competent juris-
constructive notice of matters relating to said land.
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 shat' 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
870405
Continued from Back of Front Cover
5. OPTIONS TO PAY OR OTHERWISE SETTLE CLAIMS interest covered by this policy and the amount so paid shall
be deemed a payment under this 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 the land described in Schedule A consists of two or more
the amount of insurance under this policy together with any parcels which are not used as a single site, and a loss is estab-
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.
Di 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 insured in liti-
gation carried on by the Company for such insured, and all Whenever the Company shall have settled a claim under
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
No claim shall arise or be maintained policy such right of subrogation and shall permit the Company to
(a) if the claim
m shall after s be received notice under this alleged use the name of such insured claimant in any transaction or
anlitigation 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 Canto. 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
thel policy r lost or shall b destroyed, in which the case atisf tif nsucfh negligence, and which arises out of the status of the title to
the hss or destruction be furnished to satisfaction of the estate or interest covered hereby or any action asserting
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 by either the President, a Vice President, the Secretary,
pany may pay under policy insuring either (a) a mortgage an Assistant Secretary, or validating officer or authorized
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,
and the amount so paid shall be deemed a payment under this All notices required to be given the Company and any
policy. The Company shall have the option to apply to the pay- statement in writing required to be furnished the Company
ment of any such mortgages any amount that otherwise would shall be addressed to Transamerica Title Insurance Company,
be payable hereunder to the insured owner of the estate or P. O. Box 605, Denver, Colorado 80201.
870408
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FORM NO. C-5000-1
FOR USE WITH COLORADO REGION AMERICAN LAND TITLE ASSOCIATION OWNER'S POLICY-FORM B- 1970 (AMENDED 10-17-70)
SCHEDULE A
Policy No. 8024662
Amount of Insurance$ 9 , 000. 00 Order No.
Date of Policy June 2 , 1987 Sheet 1 of 3_
7 ; 00 A.N.
1. Name of Insured:
WELD COUNTY, COLORADO,
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:
WELD COUNTY, COLORADO,
a body corporate and politic of the State of Colorado
870408
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 B-1970 (AMENDED 10-17.701
8024662
Sheet 2 of 3
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:
A tract of land located in the NWa of the NE4 of Section 1,
Township 6 North, Range 67 West of the 6th P .M. , being more
particularly described as follows :
BEGINNING at the North quarter corner of said Section 1 and
considering the North line of said Section 1 as bearing
North 89 °24 ' 22" East with all other bearings contained
herein relative thereto;
thence North 89°24 ' 22" East along said North section line
36 feet;
thence South 00°35 ' 38" East 30 feet to the TRUE POINT OF
BEGINNING;
thence North 89°24 ' 22" East 220 feet;
thence South 00°35 ' 38" East 396 feet;
thence South 89°24 ' 2211 West 220 feet;
thence North 00°35 ' 3811 West 396 feet to the TRUE POINT OF
BEGINNING.
870408
FORM NO. C-6000-30
FOR USE WITH COLORADO REGION AMERICAN LAND TITLE ASSOCIATION OWNER'S POLICY-FORM B-1970 (AMENDED 10-17-70)
8024662
Sheet 3 of 3
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 . Right to run all necessary waste water in a lake in the E' of
said Section 1 as conveyed to B. M. Lair by Elmer G. Hagar in
Warranty Deed recorded August 17 , 1907 in Book 260 , Page 439 .
7 • The Franklin Reservoir System, and the rights of way therefor,
in the westerly portion of subject property, as disclosed by
Decree in the District Court of Larimer County, Colorado in Case
No. 5362, certified copy of which was recorded December 28 , 1945
in Book 1168 , Page 72 , in which the specific location thereof is
not defined.
8 • Lease, and the terms and conditions thereof , between Bruce Ruth,
Lessor and Western Sportsmen, Incorporated, Lessee, recorded
October 24 , 1984 in Book 1047 as Reception No. 1986086 , provid-
ing for a term of three years beginning October 1 , 1984 for
recreational purposes which shall include hunting and camping,
with a right of first refusal for any subsequent recreational
leases .
NOTE : The following notices pursuant to CRS 9-1. 5-103 concerning
underground facilities have been filed with the Clerk and
Recorder. These statements are general and do not neces-
sarily give notice of underground facilities within the
subject property.
(a) Mountain Bell Telephone Company, recorded October 1,
1981 in Book 949 as Reception No. 1870705 .
(b) Public Service Company of Colorado, recorded November 9 ,
1981 in Book 952 as Reception No . 1874084 .
(c) Western Slope Gas Company, recorded March 9 , 1983 in
Book 990 as Reception No. 1919757 .
(d) Colorado Interstate Gas Company recorded August 31,
1984 in Book 1041 as Reception No. 1979784 .
(e) Associated Natural Gas, Inc. , recorded April 23 , 1986
in Book 1110 as Reception No. 2050953 .
870408
A�� �DYr DIVISION OF INSURANCE
DEPARTMENT OF REGULATORY AGENCIES
i.. - K •� 106 STATE OFFICE BUILDING • 201 E.COLFAX AVE.
\Z_�,./•/ DENVER.COLORADO 80203
STATE OF COLORADO
RICHARD BARNES.<.C.U May 1, 1977
ROBERT L BROWN
DEPUTY COMMISSIONER
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:bl
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 870408
property or easements which allow persons, .:ross your property or to place utilities across you. Jperty.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 Colorado Commissioner of Insurance,J.Richard Barnes,Commissioner,
Department of Regulatory Agencies, 106 State Office Building,Denver,Colorado 80203. t1
Form No.C-142.13 870408
Hello