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HomeMy WebLinkAbout970511.tiffTRANSNATION TITLE INSURANCE COMPANY Weld County Attorney's Office 915 10th St. Greeley, CO 80631 Attn: Cindy Ciauque Order No. 8038150 February 11, 1997 RE: In connection with the above matter, we are enclosing herewith the following: Owners Policy We are pleased to have the opportunity to be of service. 4-6-e6 36, 970511 ISSUED BY TRANSNATION TITLE INSURANCE COMPANY Transnation OWNER'S POLICY OF TITLE INSURANCE SUBJECT TO THE EXCLUSIONS FROM COVERAGE, THE EXCEPTIONS FROM COVERAGE CONTAINED IN SCHEDULE B AND THE CONDITIONS AND STIPULATIONS, TRANSNATION TITLE INSURANCE COMPANY, an Arizona corporation, herein called the Company, insures, as of Date of Policy shown in Schedule A, against loss or damage, not exceeding the Amount of Insurance stated in Schedule A, sustained or incurred by the insured by reason of I. Title to the estate or interest described in Schedule A being vested other than as stated therein; 2. Any defect in or lien or encumbrance on the title; 3. Unmarketability of the title; 4. Lack of a right of access to and from the land. The Company will also pay the costs, attorneys' fees and expenses incurred in defense of the title, as insured, but only to the extent provided in the Conditions and Stipulations. IN WITNESS WHEREOF, TRANSNATION TITLE INSURANCE COMPANY has caused its corporate name and seal to be hereunto affixed by its duly authorized officers, the Policy to become valid when countersigned by an authorized officer or agent of the Company. TRANSNATION TITLE INSURANCE COMPANY Attest: /IQ 7,441 Secretary By: EXCLUSIONS FROM COVERAGE The following matters arc expressly excluded from the coverage of this policy and the Company will not pay loss or damage, costs, attorneys' fees or expenses which arise by reason of: I. (a) Any law, ordinance or governmental regulation (including but not limited to building and zoning laws, ordinances, or regulations) restricting, regulating, prohibiting or relating to (i) the occupancy, use, or enjoyment of the land; (ii) the character, dimensions or location of any improve- ment now or hereafter erected on the land; (iii) a separation in ownership or a change in the dimensions or area of the land or any parcel of which the land is or was a part; or (iv) environmental protection, or the affect of any violation of these laws, ordinances or governmental regula- tions, except to the extent that a notice of the enforcement thereof or a notice of a defect, lien or encumbrance resulting from a violation or alleged violation affecting the land has been recorded in the public records at Date of Policy. (b) Any governmental police power not excluded by (a) above, except to the extent that a notice of the exercise thereof or a notice of a defect, lien or encumbrance resulting from a violation or alleged violation affecting the land has been recorded in the public records at Date of Policy. 2. Rights of eminent domain unless notice of the exercise thereof has been recorded in the public records at Date of Policy, but not excluding from coverage any taking which has occurred prior to Date of Policy which would be binding on the rights of a purchaser for value without knowledge. 3. Defects, liens, encumbrances, adverse claims or other matters: (a) created, suffered, assumed or agreed to by the insured claimant; (b) not known to the Company, not recorded in the public records at Date of Policy, but known to the insured claimant and not disclosed in writing to the Company by the insured claimant prior to the date the insured claimant became an insured under this policy; (c) resulting in no loss or damage to the insured claimant; (d) attaching or created subsequent to Date of Policy; or (e) resulting in loss or damage which would not have been sustained if the insured claimant had paid value for the estate or interest insured by this policy. 4. Any claim, which arises out of the transaction vesting in the Insured the estate or interest insured by this policy, by reason of the operation of federal bankruptcy, state insolvency, or similar creditors' rights laws, that is based on: (a) the transaction creating the estate or interest insured by this policy being deemed a fraudulent conveyance or fraudulent transfer; or (b) the transaction creating the estate or interest insured by this policy being deemed a preferential transfer except where the preferential transfer results from the failure: (i) to timely record the instrument of transfer; or (ii) of such recordation to impart notice to a purchaser for value or a judgment or lien creditor. 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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: Purchaser of right of way, whether in fee or easement only, as evidenced by instrument recorded June 20, 1996 in Book 1552 as Reception No. 2497539. 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 4. The land referred to in this Policy is described as follows: (SEE ATTACHED PAGE FOR LEGAL DESCRIPTION) 970511 TRANSNATION TITLE INSURANCE COMPANY Policy No.: 8038150 LEGAL DESCRIPTION Riht of way, whether evidenced by recorded June 20, 19961inn fBook ee r1552easnReception t onlysNo. 2497539, overtinstrument the following parcel: A strip of land being part of the NW1/4SE1/4 and part of the SW1/4NE1/4 of Section 32, Township 5 North, Range 66 West of the 6th P.M., County of Weld, State of Colorado and being more particularly described as follows: Beginning at the Standard Quarter corner common to Section 32-T5N.-R.66W. as monumented by a found aluminum pipe monument with aluminum cap stamped Jones LS 22098 with the Center Quarter corner common to Section 32-T.5N.-R.66W. as monumented by a found #5 rebar with aluminum cap stamped Jones LS 22098 to bear North 00 degrees 04 minutes 28 seconds West a distance of 2602.52 feet with all other bearings contained herein relative thereto: #1: Thence North 00 degrees 04 minutes 28 seconds West along the West line of the E1/2 of said Section 32 a distance of 1301.26 feet to the Center -South Sixteenth Corner of said Section 32 as monumented by a found #5 rebar with aluminum cap stamped Jones LS 22098; #2: Thence North 88 degrees 52 minutes 30 seconds East along the South line of said NW1/4SE1/4 a distance of 464.46 feet to the True Point of Beginning. Said point being a Point on Curve (POC). The aforesaid line being non -tangent to said curve; #3: Thence along the Arc of a curve which is concave to the West a distance of 498.43 feet, whose radius is 1150.00 feet, whose Delta is 24 degrees 49 minutes 59 seconds, and whose Long Chord bears North 15 degrees 58 minutes 21 seconds West a distance of 494.54 feet to the Point of Tangency (PT); #4: Thence North 28 degrees 23 minutes 21 seconds West a distance of 457.99 feet to a Point of Curvature (PC); #5: Thence along the Arc of a curve which is concave to the Northeast a distance of 299.18 feet, whose radius is 1349.96 feet, whose Delta is 12 degrees 41 minutes 52 seconds, and whose Long Chord bears North 22 degrees 02 minutes 25 seconds West a distance of 298.56 feet to a POC. Said point being on the West line of said NW1/4SE1/4. Said West line being non -tangent to aforesaid curve; #6: Thence North 00 degrees 04 minutes 28 seconds West along said West line a distance of 137.04 feet to the Center Quarter corner of said Section 32; #7: Thence North 00 degrees 04 minutes 28 seconds West along the West line of said SW1/4NE1/4 a distance of 130.78 feet; #8: Thence North 89 degrees 55 minutes 32 seconds East a distance of 30.00 feet; #9 Thence South 09 degrees 34 minutes 16 seconds East a distance of 188.71 feet; Page 2 970511 TRANSNATION TITLE INSURANCE COMPANY Policy No.: 8038150 SCHEDULE A - continued LEGAL DESCRIPTION #10: Thence South 18 degrees 42 minutes 19 seconds East a distance of 111.90 feet; #11: Thence South 28 degrees 06 minutes 01 seconds East a distance of 104.68 feet; /12: Thence South 31 degrees 33 minutes 09 seconds East a distance of 256.27 feet; #13: Thence South 26 degrees 31 minutes 13 seconds East a distance of 298.97 feet; #14: Thence South 21 degrees 57 minutes 57 seconds East a distance of 136.21 feet to the beginning of a curve. Aforesaid line being non -tangent to said curve; /15: Thence along the arc of a curve which is concave to the West a distance of 438.48 feet, whose radius is 1250.34 feet, whose Delta is 20 degrees 05 minutes 35 seconds, and whose Long Chord bears South 13 degrees 24 minutes 27 seconds East a distance of 436.24 feet to a POC. Said point being on the South line of said NW1/4SE1/4. Said South line being non -tangent to aforesaid curve; #16: Thence South 88 degrees 52 minutes 30 seconds West along said South line a distance of 100.06 feet to the True Point of Beginning. Page 3 970511 TRANSNATION TITLE INSURANCE COMPANY Policy No.: 8038150 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 correct survey and inspection of the premises would disclose and which are not shown by the public records. bor or 4. heretofore orrhereafter furnished, ight to a lienfor simposed �byamaterial Anlien, or 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. Reservation of right of proprietor of any penetrating vein or lode to extract his ore, in U.S. Patent recorded March 10, 1893 in Book 57 at Page 240. 8. Terms, agreements, provisions, conditions and obligations as contained in Greeley -Loveland Shareholder's Domestic Water Agreement recorded September 10, 1963 in Book 489 as Reception No. 1416770. 9. Oil and gas lease between Louis E. Spomer and Janet M. Spomer and Harry A. Ells, Jr. dated December 10, 1982, recorded December 27, 1982 in Book 985 as Reception No. 1912292, and any interests therein or rights thereunder. Note: Extension of the above lease as claimed by Affidavit of Production, pursuant to CRS 38-42-106, by Energy Minerals Corporation, recorded June 20, 1985 in Book 1073 as Reception No. 2014074. Page 4 970511 TRANSNATION TITLE INSURANCE COMPANY Policy No.: 8038150 SCHEDULE B - continued Note: Extension of the above lease as claimed by Affidavit of Production, pursuant to CRS 38-42-106, by Barrett Energy Company, recorded December 6, 1985 in Book 1094 as Reception No. 2034919. Note: Extension of the above lease as claimed by Affidavit of Production, pursuant to CRS 38-42-106, by Sunshine Valley Petroleum Corporation, recorded January 28, 1986 in Book 1101 as Reception No. 2040816. Note: Extension of the above lease as claimed by Affidavit of Production, pursuant to CRS 38-42-106, by Mazuma Turnkey Contractors, Inc., recorded March 1, 1988 in Book 1187 as Reception No. 2132539. Note: Extension of the above lease as claimed by Affidavit of Production, pursuant to CRS 38-42-106, by The Robert Gerrity Company, recorded October 12, 1989 in Book 1246 as Reception No. 2194470. 10. Oil and gas lease between Eric Louis Spomer and Harry A. Ells, Jr. dated December 10, 1982, recorded December 27, 1982 in Book 985 as Reception No. 1912293, and any interests therein or rights thereunder. Note: Extension of the above lease as claimed by Affidavit of Production, pursuant to CRS 38-42-106, by Barrett Energy Company, recorded December 6, 1985 in Book 1094 as Reception No. 2034920. Note: Extension of the above lease as claimed by Affidavit of Production, pursuant to CRS 38-42-106, by Sunshine Valley Petroleum Corporation, recorded January 28, 1986 in Book 1101 as Reception No. 2040816. Note: Extension of the above lease as claimed by Affidavit of Production, pursuant to CRS 38-42-106, by Mazuma Turnkey Contractors, Inc., recorded March 1, 1988 in Book 1187 as Reception No. 2132539. 11. Oil and gas lease between Elizabeth Louise Spomer and Harry A. Ells, Jr. dated December 10, 1982, recorded December 27, 1982 in Book 985 as Reception No. 1912294, and any interests therein or rights thereunder. Note: Extension of the above lease as claimed by Affidavit of Productit pursuant to 19851i38-42-16, o nBokB1094tasEnergy Page 5 970511 TRANSNATION TITLE INSURANCE COMPANY Policy No.: 8038150 SCHEDULE H - continued Reception No. 2034921. Note: Extension of the above lease as claimed by Affidavit of Production, pursuant to CRS 38-42-106, by Sunshine Valley Petroleum Corporation, recorded January 28, 1986 in Book 1101 as Reception No. 2040816. Note: Extension of the above lease as claimed by Affidavit of Production, pursuant to CRS 38-42-106, by Mazuma Turnkey Contractors, Inc., recorded March 1, 1988 in Book 1187 as Reception No. 2132539. 12. Oil and gas lease between Elizabeth Craven Ells and Harry A. Ells, Jr. dated December 10, 1982, recorded December 27, 1982 in Book 985 as Reception No. 1912295, and any interests therein or rights thereunder. Note: Extension of the above lease as claimed by Affidavit of Production, pursuant to CRS 38-42-106, by Barrett Energy Company, recorded December 6, 1985 in Book 1094 as Reception No. 2034922. Note: Extension of the above lease as claimed by Affidavit of Production, pursuant to CRS 38-42-106, by Sunshine Valley Petroleum Corporation, recorded January 28, 1986 in Book 1101 as Reception No. 2040816. Note: Extension of the above lease as claimed by Affidavit of Production, pursuant to CRS 38-42-106, by Mazuma Turnkey Contractors, Inc., recorded March 1, 1988 in Book 1187 as Reception No. 2132539. 13. Right of way, whether in fee or easement only, for a pipeline or pipelines, or other appurtenances, as granted to Natural Gas Associates( Inc., a Delaware corporation by Elizabeth Louise Spomer, Eric Louis Spomer and Louis E. Spomer and Elizabeth C. Ells, in the instrument recorded June 2, 1986 in Book 1114 as Reception No. 2055525, the location of which is shown in the map attached to said instrument. 14. Terms, agreements, provisions, conditions and obligations as contained in City of Greeley -Greeley and Loveland System Shareholder's Agreement by and between the City of Greeley, Heirs of Ann Spomer, et.al., Louis Evans Spomer, Elizabeth Craven Ells, Elizabeth Spomer Maynard and Eric Louis Spomer recorded February 11, 1993 in Book 1370 as Reception No. 2321526. Page 6 970511 TRANSNATION TITLE INSURANCE COMPANY Policy No.: 8038150 SCHEDULE B - continued 15. Terms, agreements, provisions, conditions and obligations as contained in Agreement by and between Louis Evans Spomer aka Louis E. Spomer, Elizabeth Craven Ells formerly Elizabeth Craven Spomer, Elizabeth Louise Spomer Maynard and Eric Louis Spomer and Weld County, Colorado recorded June 20, 1996 in Book 1552 as Reception No. 2497539. 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 necessarily give notice of underground facilities within the property. (a) Mountain Bell Telephone Company, recorded October 1, 1981 in Book 949 as Reception No. 1870705. (b) Colorado Interstate Gas Company, recorded August 31, 1984 in Book 1041 as Reception No. 1979784. (c) Associated Natural Gas, Inc., recorded April 10, 1989 in Book 1229 as Reception No. 2175917. (d) Western Slope Gas Company, recorded March 9, 1983 in Book 990 as Reception No. 1919757. (e) Panhandle Eastern Pipe Line Company, recorded June 26, 1986 in Book 1117 as Reception No. 2058722. Page 7 970511 7. DETERMINATION, EXTENT OF LIABILITY AND COINSURANCE. This policy is a contract of indemnity against actual monetary loss or damage sustained or incurred by the insured claimant who has suffered loss or damage by reason of matters insured against by this policy and only to the extent herein described. (a) The liability of the Company under this policy shall not exceed the least of: (i) the Amount of Insurance stated in Schedule A; or, (ii) the difference between the value of the insured estate or interest as insured and the value sf the insured estate or interest subject to the defect. lien or encumbrance insured against by this policy. (h) In the event the Amount of Insurance stated in Schedule A at the Date of Policy is less than 80 percent of the value of the insured estate or interest or the full consideration paid for the land, whichever is less, or if subsequent to the Date of Policy an improvement is erected on the land which increases the value of the insured estate or interest by at (cast 20 percent over the Amount of Insurance stated in Schedule A, then this Policy is subject to the following: (i) where no subsequent improvement has been made, as to any partial loss, the Company shall only pay the loss pro rata in the proportion that the amount of insurance at Date of Policy hears to the total value of the insured estate or interest at Dale of Policy; or (ii) where a subsequent improvement has been made, as to any partial loss, the Company shall only pay the loss pro rata in the proportion that 120 percent of the Amount of Insurance stated in Schedule A hears to the sum of the Amount of Insurance stated in Schedule A and the amount expended for the improvement. The provisions of this paragraph shall not apply to costs, attorneys' fees and expenses for which the Company is liable under this policy, and shall only apply to that portion of any loss which exceeds, in the aggregate, 10 percent of the Amount of Insurance stated in Schedule A. (c) The Company will pay only those costs, attorneys' fees and expenses incurred in accordance with Section 4 of these Conditions and Stipulations. 8. APPORTIONMENT. If the land described in Schedule A consists of two or more parcels which are not used as a single site, and a loss is established affecting one or more of the parcels but not all, the loss shall be computed and settled on a pro rata basis as if the amount of insurance under this policy was divided pro rata as to the value on Date of Policy of each separate parcel to the whole, exclusive of any improvements made subsequent to Date of Policy, unless a liability or value has otherwise been agreed upon as to each parcel by the Company and the insured at the time of the issuance of this policy and shown by an express statement or by an endorsement attached to this policy. 9. LIMITATION OF LIABILITY. (a) If the Company establishes the title, or removes the alleged defect, lien or encumbrance, or cures the lack of a right of access to or from the land, or cures the claim of unmarketability of title, all as insured, in a reasonably diligent manner by any method, including litigation and the completion of any appeals therefrom, it shall have fully performed its obligations with respect to that matter and shall not be liable for any loss or damage caused thereby. (b) In the event of any litigation, including litigation by the Company or with the Company's consent, the Company shall have no liability for loss or damage until there has been a final determination by a court of cotnpetent jurisdiction, and disposition of all appeals therefrom, adverse to the title as insured. (c) The Company shall not be liable for loss or damage to any insured for liability voluntarily assumed by the insured in settling any claim or suit without the prior written consent of the Company. 10. REDUCTION OF INSURANCE; REDUCTION OR TERMINATION OF LIABILITY. All payments under this policy, except payments made for costs, attorneys' fees and expenses, shall reduce the amount of the insurance pro tanto. 11, LIABILITY NONCUMULATIVE It is expressly understood that the amount of insurance under this policy shall be reduced by any amount the Company may pay under any policy insuring a mortgage to which exception is taken in Schedule B or to which the insured has agreed, assumed, or taken subject, or which is hereafter executed by an insured and which is a charge or lien on the estate or interest described or referred to in Schedule A, and the amount so paid shall be deemed a payment under this policy to the insured owner, 12. PAYMENT OF LOSS. (a) No payment shall be made without producing this policy for endorsement of the payment unless the policy has been lost or destroyed, in which case proof of loss or destruction shall he furnished to the satisfaction of the Company. NM1 ' • PA10 ALTA Owner's Policy (10-17-92) Cover Page Form 1190-58 (Continued) (b) When liability and the extent of loss or damage has been definitely fixed in accordance with these Conditions and Stipulations, the loss or damage shall be payable within 30 days thereafter. 13. SUBROGATION UPON PAYMENT OR SETTLEMENT. (a) The Company's Right of Subrogation. Whenever the Company shall have settled and paid a claim under this policy, all right of subrogation shall vest in the Company unaffected by any act of the insured claimant. The Company shall be subrogated to and be entitled to all rights and remedies which the insured claimant would have had against any person or property in respect to the claim had this policy not been issued. If requested by the Company, the insured claimant shall transfer to the Company all rights and remedies against any person or property necessary in order to perfect this right of subrogation. The insured claimant shall permit the Company to sue, compromise or settle in the name of the insured claimant and its Use the name of the insured claimant in any transaction or litigation involving these rights or remedies. If a payment on account of a claim does not fully cover the loss of the insured claimant, the Company shall he subrogated to these rights and remedies in the proportion which the Company's payment bears to the whole amount of the loss. If loss should result from any act of the insured claimant, as stated above, that act shall not void this policy, but the Company, in that event. shall he required to pay only that part of any losses insured against by this policy which shall exceed the amount. if any, lost to the Company by reason of the impairment by the insured claimant of the Company's right of subrogation_ (h) The Company's Rights Against Non-insured Obligors. The Company's right of subrogation against non-insured obligors shall exist and shall include without limitation, the rights of the insured to indemnities, guaranties, other policies of insurance or bonds, notwithstanding any terms or conditions contained in those instruments which provide for subrogation rights by reason of this policy. 14. ARBITRATION Unless prohibited by applicable law, either the Company or the insured may demand arbitration pursuant to the Title Insurance Arbitration Rules of the American Arbitration Association. Arbitrable matters may include, but are not limited to. any controversy or claim between the Company and the insured arising out of or relating to this policy, any service of the Cotnpany in connection with its issuance or the breach of a policy provision or other obligation. All arbitrable matters when the Amount of Insurance is 51,000,000 or less shall be arbitrated at the option of either the Company or the insured. All arbitrable matters when the Amount of Insurance is in excess of $1,000,000 shall he arbitrated only when agreed to by both the Company and the insured. Arbitration pursuant to this policy and under the Rules in effect on the date the demand for arbitration is made or, at the option of the insured, the Rules in effect at Date of Policy shall he binding upon the parties. The award may include attorneys' fees only if the laws of the state in which the land is located permit a court to award attorneys' fees to a prevailing party. Judgment upon the award rendered by the Arbitrator(s) may be entered in any court having jurisdiction thereof. The law of the situs of the land shall apply to an arbitration under the Title Insurance Arbitration Rules. A copy of the Rules may be obtained from the Company upon request. 15. LIABILITY LIMITED TO THIS POLICY; POLICY ENTIRE CONTRACT. (a) This policy together with all endorsements, if any, attached hereto by the Company is the entire policy and contract between the insured and the Company. In interpreting any provision of this policy, this policy shall be construed as a whole. (b) Any claim of loss or damage, whether or not based on negligence, and which arises out of the status of the title to the estate or interest covered hereby or by any action asserting such claim, shall he restricted to this policy. (c) No amendment of or endorsement to this policy can be made except by a writing endorsed hereon or attached hereto signed by either the President, a Vice President, the Secretary, an Assistant Secretary, or validating officer or authorized signatory of the Company. 16. SEVERABILITY. In the event any provision of the policy is held invalid or unenforceable under applicable law, the policy shall be deemed not to include that provi- sion and all other provisions shall remain in full force and effect. 17. NOTICES, WHERE SENT, All notices required to be given the Company and any statement in writing required to be furnished the Company shall include the number of this policy and shall be addressed to TRANSNATJON TITLE INSURANCE COMPANY. 1700 Market Street, Philadelphia, PA 1 9 1 03-3990. ORIGINAL 970511 Valid Only If Face Page, Schedules A and B Are Attached ZZS0L6 Transnation CO a) m Hello