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Home My WebLink About20221106.tiffRESOLUTION RE: APPROVE CONTRACT TO BUY AND SELL REAL ESTATE AND AGREEMENT TO AMEND/EXTEND CONTRACT (0 COUNTY ROAD 6, KEENESBURG), AND AUTHORIZE CHAIR TO SIGN ALL NECESSARY DOCUMENTS 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, the Board has been presented with a Contract to Buy and Sell Real Estate and an Agreement to Amend/Extend Contract (0 County Road 6, Keenesburg) regarding a property further described as Lot B of Recorded Exemption, RECX15-0148; being part of the NW1/4 of Section 29, Township 1 North, Range 63 West of the 6th P.M., Weld County, Colorado ("the Property"), and WHEREAS, the purchase of the Property, for the sum of $225,000.00, is desirable for use by Weld County for the Keenesburg Grader Shed, and WHEREAS, after review, the Board deems it advisable to approve said Contract to Buy and Sell Real Estate and Agreement to Amend/Extend Contract, copies of which are attached hereto and incorporated herein by reference. NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of Weld County, Colorado, that the Contract to Buy and Sell Real Estate and Agreement to Amend/Extend Contract (0 County Road 6, Keenesburg) regarding a property further described as Lot B of Recorded Exemption, RECX15-0148; being part of the NW1/4 of Section 29, Township 1 North, Range 63 West of the 6th P.M., Weld County, Colorado, be, and hereby is, approved. BE IT FURTHER RESOLVED by the Board that the Chair be, and hereby is, authorized to sign all necessary documents. cc: B6Crr/z) CRG38) LI/ ix'/22 2022-1106 PR0037 CONTRACT TO BUY AND SELL REAL ESTATE AND AGREEMENT TO AMEND/EXTEND CONTRACT (0 COUNTY ROAD 6, KEENESBURG) PAGE 2 The above and foregoing Resolution was, on motion duly made and seconded, adopted by the following vote on the 18th day of April, A.D., 2022. BOA D OF COUNTY COMMISSIONERS WE COUN , COLORADO ATTEST: Weld Co ) ty Clerk to the BY: Deputy Cle AS TO FORM: ounty Attorney Date of signature: Scbtt K. James, Chair rry . B Steve Moreno Lori Sai Pro -T 2022-1106 PR0037 Houstan Aragon From: Sent: To: Subject: Attachments: Bruce Barker Wednesday, April 13, 2022 4:36 PM CTB Please put the attached on the agenda for Monday, 4-18-22 0000_County_Road_6_Keenesburg_CBS_Fully_Executed[3].pdf; TBD County Road 6 Keenesburg Amend Buyer Name[73].pdf Need to have the Board approve the Agreement and Amendment, and then to authorize Scott's signature on the Amendment and on any necessary closing documents for the purchase of the property. The property being purchased is described in Section 2.4 of the Agreement (also, Section 1 of the Amendment). Price of purchase is $225,000. No need to attach the Agreement or Amendment to the Resolution. Instead, refer to the Agreement as, "Contract to Buy and Sell Real Estate (Land), dated March 15, 2022," and refer to the Amendment as, "Agreement to Amend/Extend Contract, dated March 21, 2022." Thanks! Bruce T. Barker, Esq. Weld County Attorney P.O. Box 758 1150 "O" Street Greeley, CO 80632 (970) 400-4390 Fax: (970) 352-0242 Confidentiality Notice: This electronic transmission and any attached documents or other writings are intended only for the person or entity to which it is addressed and may contain information that is attorney privileged and confidential, or otherwise protected from disclosure. If you have received this communication in error, please immediately notify sender by return e-mail and destroy the communication. Any disclosure, copying, distribution or the taking of any action concerning the contents of this communication or any attachments by anyone other than the named recipient is strictly prohibited. 1 SEARS gtAL £StAtt Sears Real Estate 2021 Clubhouse Drive Suite 100 Greeley, CO 80634 Phone: (970)330-7700 Fax: (970)330-4766 www.searsrealestate.com 1 f The printed portions of this form, except differentiated additions, have been approved by the Colorado Real Estate Commission. 2 (CBS4-6-21) (Mandatory 1-22) 3 4 THIS FORM HAS IMPORTANT LEGAL CONSEQUENCES AND THE PARTIES SHOULD CONSULT LEGAL AND TAX OR 5 OTHER COUNSEL BEFORE SIGNING. 6 7 8 9 10 11 12 13 CONTRACT TO BUY AND SELL REAL ESTATE (LAND) ( ❑O Property with No Residences) ( ❑ Property with Residences —Residential Addendum Attached) AGREEMENT Date: March 15, 2022 14 1. AGREEMENT. Buyer agrees to buy and Seller agrees to sell the Property described below on the terms and conditions set 15 forth in this contract (Contract). 16 2. PARTIES AND PROPERTY. 17 2.1. Buyer. X, (Buyer) will take title 18 to the Property described below as ❑ Joint Tenants ❑ Tenants In Common El Other In Severalty. 19 2.2. No Assignability. This Contract IS NOT assignable by Buyer unless otherwise specified in Additional Provisions. 20 2.3. Seller.• Blake Allen Armstrong and Darla Marie Armstrong (Seller) is the current 21 owner of the Property described below. 22 2.4. Property. The Property is the following legally described real estate in the County of Weld, Colorado: 23 (insert legal description): 24 PT NW4 29-1-63 LOT B REC EXEMPT RECX15—0148 25 26 27 28 29 30 0 County Road 6 Keenesburg CO 80643 31 known as No. Street Address City State Zip 32 33 together with the interests, easements, rights, benefits, improvements and attached fixtures appurtenant thereto and all interest of 34 Seller in vacated streets and alleys adjacent thereto, except as herein excluded (Property). 35 2.5. Inclusions. The Purchase Price includes the following items (Inclusions): 36 2.5.1. Inclusions. The following items, whether fixtures or personal property, are included in the Purchase Price 37 unless excluded under Exclusions: 38 N/A 39 40 41 If any additional items are attached to the Property after the date of this Contract, such additional items are also included in the 42 Purchase Price. 43 2.5.2. Encumbered Inclusions. Any Inclusions owned by Seller (i.e., owned solar panels) must be conveyed at 44 Closing by Seller free and clear of all taxes (except personal property and general real estate taxes for the year of Closing), liens and 45 encumbrances, except: CBS4-6-21. CONTR TO t Y AND LL REAL ESTATE (LAND) 3/15/2022 14:53 Page 1 of 20 Buyer initials P/r Seller initials ozoo - //D(' 46 N/A 47 48 49 2.5.3. Personal Property Conveyance. Conveyance of all personal property will be by bill of sale or other 50 applicable legal instrument. 51 2.5.4. Leased Items. The following personal property is currently leased to Seller which will be transferred to Buyer 52 at Closing (Leased Items): 53 N/A 54 55 56 57 2.6. Exclusions. The following items are excluded (Exclusions): 58 Seller's Personal Property, Mineral Rights 59 60 61 62 63 2.7. Water Rights, Well Rights, Water and Sewer Taps. 64 ❑ 2.7.1. Deeded Water Rights. The following legally described water rights: 65 N/A 66 67 68 Any deeded water rights will be conveyed by a good and sufficient N/A deed at Closing. 69 ❑ 2.7.2. Other Rights Relating to Water. The following rights relating to water not included in §§2.7.1., 2.7.3., 70 2.7.4. and 2.7.5., will be transferred to Buyer at Closing: 71 N/A 72 73 74 75 76 0 2.7.3. Well Rights. Seller agrees to supply required information to Buyer about the well. Buyer understands that if 77 the well to be transferred is a "Small Capacity Well" or a "Domestic Exempt Water Well" used for ordinary household purposes, 78 Buyer must, prior to or at Closing, complete a Change in Ownership form for the well. If an existing well has not been registered 79 with the Colorado Division of Water Resources in the Department of Natural Resources (Division), Buyer must complete a 80 registration of existing well form for the well and pay the cost of registration. If no person will be providing a closing service in 81 connection with the transaction, Buyer must file the form with the Division within sixty days after Closing. The Well Permit # is 82 321608. 83 ❑ 2.7.4. Water Stock Certificates. The water stock certificates to be transferred at Closing are as follows: 84 N/A 85 86 87 2.7.5. Water and Sewer Taps. The parties agree that water and sewer taps listed below for the Property are being 88 conveyed as part of the Purchase Price as follows: 89 N/A 90 91 92 If any water or sewer taps are included in the sale, Buyer is advised to obtain, from the provider, written confirmation of 93 the amount remaining to be paid, if any, time and other restrictions for transfer and use of the taps. 94 2.7.6. Conveyance. If Buyer is to receive any rights to water pursuant to § 2.7.2. (Other Rights Relating to Water), 95 § 2.7.3. (Well Rights), or § 2.7.4. (Water Stock Certificates), or § 2.7.5 (Water and Sewer Taps), Seller agrees to convey such rights 96 to Buyer by executing the applicable legal instrument at Closing. 97 2.7.7. Water Rights Review. Buyer ❑ Does ❑ Does Not have a Right to Terminate if examination of the Water 98 Rights is unsatisfactory to Buyer on or before the Water Rights Examination Deadline. 99 2.8. Growing Crops. With respect to growing crops, Seller and Buyer agree as follows: 100 N/A 101 CBS4421. CONTR CT TO BUY ND L REAL ESTATE (LAND) 3/15/2022 14:53 Page 2 of 20 Buyer initials 102 103 3. DATES, DEADLINES AND APPLICABILITY. 104 3.1. Dates and Deadlines. Item No. Reference §3 §4 2 3 ) §8 4 §8 §8 §8 §8 §8 Event Time of Day Deadline Alternative Earnest Money Deadline Date or Deadline 7:00PM MST 5 6 7 8 9 §7 § 7 10 Title MEC f 3 Business Days Record Title Deadline (and Tax Certificate) (March 25, 2022 Record Title Objection Deadline Off -Record Title Deadline March 25, 2022 Off -Record Title Objection Deadline Title Resolution Deadline March 29, 2022 Third Party Right to Purchase/Approve Deadline March 28, 2022 March 28, 2022 Owners' Association N/A Association Documents Deadline IN/A Association Documents Termination Deadline Seller's Disclosures 11 12 § 10 § 10 Lead -Based Paint Disclosure Deadline (if Residential Addendum attached) N/A Seller's Property Disclosure Deadline N/A N/A 13 14 15 16 Loan and Credit § 5 New Loan Application Deadline § 5 New Loan Terms Deadline § 5 New Loan Availability Deadline §5 Buyer's Credit Information Deadline § 5 Disapproval of Buyer's Credit Information Deadline § 5 Existing Loan Deadline N/A N/A N/A N/A 17 18 19 N/A N/A 5 Existing Loan Termination Deadline 20 § 5 Loan Transfer Approval Deadline 21 § 4 Seller or Private Financing Deadline N/A N/A Appraisal Appraisal Deadline Appraisal Objection Deadline Appraisal Resolution Deadline N/A 22 §6 24 §6 N/A N/A N/A Survey New ILC or New Survey Deadline New ILC or New Survey Objection Deadline N/A New ILC or New Survey Resolution Deadline 25 §9 N/A 26 § 9 27 § 9 N/A Inspection and Due Diligence 28 § 2 Water Rights Examination Deadline 29 § 8 Mineral Rights Examination Deadline 30 § 10 Inspection Termination Deadline 31 § 10 Inspection Objection Deadline 32 N/A § 10 Inspection Resolution Deadline § 10 Property Insurance Termination Deadline § 10 Due Diligence Documents Delivery Deadline 33 34 35 § 10 Due Diligence Documents Objection Deadline 36 § 10 Due Diligence Documents Resolution Deadline 37 38 § 10 Environmental Inspection Termination Deadline § 10 ADA Evaluation Termination Deadline N/A N/A N/A N/A N/A March 25, 2022 March 28, 2022 March 29, 2022 April 8, 2022 N/A CBS4-6-21. C:ONTRJA C'T TO 1 Y A r-r"SELL REAL ESTATE (LAND) 3/15/2022 14:53 Page 3 or 20 Buyer initials .. _ Seller initials 39 § 10 Conditional Sale Deadline N/A 40 § 10 Lead -Based Paint Termination Deadline (if Residential Addendum attached) N/A 41 § 11 Estoppel Statements Deadline N/A 42 § 11 Estoppel Statements Termination Deadline N/A Closing and Possession 43 § 12 Closing Date April 18, 2022 44 § 17 Possession Date Day of Closing 45 § 17 Possession Time Delivery of Deed 46 § 27 Acceptance Deadline Date March 18, 2022 47 § 27 Acceptance Deadline Time 5 : 00PM MST N/A N/A N/A N/A N/A N/A 105 3.2. Applicability of Terms. If any deadline blank in § 3.1. (Dates and Deadlines) is left blank or completed with "N/A", 106 or the word "Deleted", such deadline is not applicable and the corresponding provision containing the deadline is deleted. Any box 107 checked in this Contract means the corresponding provision applies. If no box is checked in a provision that contains a selection of 108 "None", such provision means that "None" applies. 109 The abbreviation "MEC" (mutual execution of this Contract) means the date upon which both parties have signed this Contract. The 110 abbreviation "N/A' as used in this Contract means not applicable. 111 3.3. Day; Computation of Period of Days; Deadlines. 112 3.3.1. Day. As used in this Contract, the term "day" means the entire day ending at 11:59 p.m., United States 113 Mountain Time (Standard or Daylight Savings, as applicable). Except however, if a Time of Day Deadline is specified in § 3.1. 114 (Dates and Deadlines), all Objection Deadlines, Resolution Deadlines, Examination Deadlines and Termination Deadlines will end 115 on the specified deadline date at the time of day specified in the Time of Day Deadline, United States Mountain Time. If Time of 116 Day Deadline is left blank or "N/A" the deadlines will expire at 11:59 p.m., United States Mountain Time. 117 33.2. Computation of Period of Days. In computing a period of days (e.g., three days after MEC), when the 118 ending date is not specified, the first day is excluded and the last day is included. 119 33.3. Deadlines. If any deadline falls on a Saturday, Sunday or federal or Colorado state holiday (Holiday), such 120 deadline ❑ Will El Will Not be extended to the next day that is not a Saturday, Sunday or Holiday. Should neither box be checked, 121 the deadline will not be extended. 122 4. PURCHASE PRICE AND TERMS. 123 4.1. Price and Terms. The Purchase Price set forth below is payable in U.S. Dollars by Buyer as follows: Item No. Reference Item Amount I Amount 1 § 4.1 Purchase Price $ 225, 000. 00 2 § 4.3 Earnest Money $ 3, 000. 00 3 § 4.5 New Loan $ N/A 4 § 4.6 Assumption Balance $ N/A 5 § 4.7 Private Financing $ N/A 6 § 4.7 Seller Financing $ N/A 7 N/A N/A N/A N/A 8 N/A N/A N/A N/A 9 § 4.4 Cash at Closing $ 222, 000. 00 10 TOTAL $ 225, 000.00 $ 225, 000.00 124 4.2. Seller Concession. At Closing, Seller will credit to Buyer $ N/A (Seller Concession). The Seller 125 Concession may be used for any Buyer fee, cost, charge or expenditure to the extent the amount is allowed by the Buyer's lender 126 and is included in the Closing Statement or Closing Disclosure at Closing. Examples of allowable items to be paid for by the Seller 127 Concession include, but are not limited to: Buyer's closing costs, loan discount points, loan origination fees, prepaid items and any 128 other fee, cost, charge, expense or expenditure. Seller Concession is in addition to any sum Seller has agreed to pay or credit Buyer 129 elsewhere in this Contract. 130 43. Earnest Money. The Earnest Money set forth in this Section, in the form of a good funds , will be CBS4-6-21. CONTACT TO B ND SELL REAL ESTATE (LAND) 3/15/2022 14:53 Page 4 of 20 Buyer Initial: Seller initials 131 payable to and held by Land Title Guarantee Company (Earnest Money Holder), in its trust account, on behalf of 132 both Seller and Buyer. The Earnest Money deposit must be tendered, by Buyer, with this Contract unless the parties mutually agree 133 to an Alternative Earnest Money Deadline for its payment. The parties authorize delivery of the Earnest Money deposit to the 134 company conducting the Closing (Closing Company), if any, at or before Closing. In the event Earnest Money Holder has agreed to 135 have interest on Earnest Money deposits transferred to a fund established for the purpose of providing affordable housing to Colorado 136 residents, Seller and Buyer acknowledge and agree that any interest accruing on the Earnest Money deposited with the Earnest 137 Money Holder in this transaction will be transferred to such fund. 138 4.3.1. Alternative Earnest Money Deadline. The deadline for delivering the Earnest Money, if other than at the 139 time of tender of this Contract, is as set forth as the Alternative Earnest Money Deadline. 140 4.3.2. Disposition of Earnest Money. If Buyer has a Right to Terminate and timely terminates, Buyer is entitled 141 to the return of Earnest Money as provided in this Contract. If this Contract is terminated as set forth in § 24 and, except as provided 142 in § 23 (Earnest Money Dispute), if the Earnest Money has not already been returned following receipt of a Notice to Terminate, 143 Seller agrees to execute and return to Buyer or Broker working with Buyer, written mutual instructions (e.g., Earnest Money Release 144 form), within three days of Seller's receipt of such form. If Seller is entitled to the Earnest Money, and, except as provided in § 23 145 (Earnest Money Dispute), if the Earnest Money has not already been paid to Seller, following receipt of an Earnest Money Release 146 form, Buyer agrees to execute and return to Seller or Broker working with Seller, written mutual instructions (e.g., Earnest Money 147 Release form), within three days of Buyer's receipt. 148 4.3.2.1. Seller Failure to Timely Return Earnest Money. If Seller fails to timely execute and return the 149 Earnest Money Release Form, or other written mutual instructions, Seller is in default and liable to Buyer as set forth in "If Seller 150 is in Default", § 20.2. and § 21, unless Seller is entitled to the Earnest Money due to a Buyer default. 151 4.3.2.2. Buyer Failure to Timely Release Earnest Money. If Buyer fails to timely execute and return the 152 Earnest Money Release Form, or other written mutual instructions, Buyer is in default and liable to Seller as set forth in "If Buyer 153 is in Default, § 20.1. and § 21, unless Buyer is entitled to the Earnest Money due to a Seller Default. 154 4.4. Form of Funds; Time of Payment; Available Funds. 155 4.4.1. Good Funds. All amounts payable by the parties at Closing, including any loan proceeds, Cash at Closing 156 and closing costs, must be in funds that comply with all applicable Colorado laws, including electronic transfer funds, certified 157 check, savings and loan teller's check and cashier's check (Good Funds). 158 4.4.2. Time of Payment. All funds, including the Purchase Price to be paid by Buyer, must be paid before or at 159 Closing or as otherwise agreed in writing between the parties to allow disbursement by Closing Company at Closing OR SUCH 160 NONPAYING PARTY WILL BE IN DEFAULT. 161 4.4.3. Available Funds. Buyer represents that Buyer, as of the date of this Contract, El Does ❑ Does Not have 162 funds that are immediately verifiable and available in an amount not less than the amount stated as Cash at Closing in § 4.1. 163 4.5. New Loan. OMITTED AS INAPPLICABLE. 171 4.6. Assumption. OMITTED AS INAPPLICABLE. 184 4.7. Seller or Private Financing. OMITTED AS INAPPLICABLE. 200 TRANSACTION PROVISIONS 201 5. FINANCING CONDITIONS AND OBLIGATIONS. 202 5.1. New Loan Application. If Buyer is to pay all or part of the Purchase Price by obtaining one or more new loans (New 203 Loan), or if an existing loan is not to be released at Closing, Buyer, if required by such lender, must make an application verifiable 204 by such lender, on or before New Loan Application Deadline and exercise reasonable efforts to obtain such loan or approval. 205 5.2. New Loan Terms; New Loan Availability. 206 5.2.1. New Loan Terms. If Buyer is to pay all or part of the Purchase Price with a New Loan, this Contract is 207 conditional upon Buyer determining, in Buyer's sole subjective discretion, whether the proposed New Loan's payments, interest 208 rate, conditions and costs or any other loan terms (New Loan Terms) are satisfactory to Buyer. This condition is for the sole benefit 209 of Buyer. Buyer has the Right to Terminate under § 24.1., on or before New Loan Terms Deadline, if the New Loan Terms are not 210 satisfactory to Buyer, in Buyer's sole subjective discretion. 211 5.2.2. New Loan Availability. If Buyer is to pay all or part of the Purchase Price with a New Loan, this Contract is 212 conditional upon Buyer's satisfaction with the availability of the New Loan based on the lender's review and underwriting of Buyer's 213 New Loan Application (New Loan Availability). Buyer has the Right to Terminate under § 24.1., on or before the New Loan 214 Availability Deadline if the New Loan Availability is not satisfactory to Buyer. Buyer does not have a Right to Terminate based on the 215 New Loan Availability if the termination is based on the New Loan Terms, Appraised Value (defined below), the Lender Property 216 Requirements (defined below), Insurability (§ 10.5. below) or the Conditional Upon Sale of Property (§ 10.7. below). IF SELLER IS CBS4.6-21. CONTRACT TO Y A LL REAL ESTATE (LAND) 3/l5/2022 14:53 Page 5 or 20 Buyer initials JI//�Seller initials 217 NOT IN DEFAULT AND DOES NOT TIMELY RECEIVE BUYER'S WRITTEN NOTICE TO TERMINATE, BUYER'S 218 EARNEST MONEY WILL BE NONREFUNDABLE, except as otherwise provided in this Contract (e.g., Appraisal, Title, 219 Survey). 220 53. Credit Information. If an existing loan is not to be released at Closing, this Contract is conditional (for the sole benefit 221 of Seller) upon Seller's approval of Buyer's financial ability and creditworthiness, which approval will be in Seller's sole subjective 222 discretion. Accordingly: (1) Buyer must supply to Seller by Buyer's Credit Information Deadline, at Buyer's expense, information 223 and documents (including a current credit report) concerning Buyer's financial, employment and credit condition; (2) Buyer consents 224 that Seller may verify Buyer's financial ability and creditworthiness; and (3) any such information and documents received by Seller 225 must be held by Seller in confidence and not released to others except to protect Seller's interest in this transaction. If the Cash at 226 Closing is less than as set forth in § 4.1. of this Contract, Seller has the Right to Terminate under § 24.1., on or before Closing. If 227 Seller disapproves of Buyer's financial ability or creditworthiness, in Seller's sole subjective discretion, Seller has the Right to 228 Terminate under § 24.1., on or before Disapproval of Buyer's Credit Information Deadline. 229 5.4. Existing Loan Review. If an existing loan is not to be released at Closing, Seller must deliver copies of the loan 230 documents (including note, deed of trust and any modifications) to Buyer by Existing Loan Deadline. For the sole benefit of Buyer, 231 this Contract is conditional upon Buyer's review and approval of the provisions of such loan documents. Buyer has the Right to 232 Terminate under § 24.1., on or before Existing Loan Termination Deadline, based on any unsatisfactory provision of such loan 233 documents, in Buyer's sole subjective discretion. If the lender's approval of a transfer of the Property is required, this Contract is 234 conditional upon Buyer obtaining such approval without change in the terms of such loan, except as set forth in § 4.6. If lender's 235 approval is not obtained by Loan Transfer Approval Deadline, this Contract will terminate on such deadline. Seller has the Right 236 to Terminate under § 24.1., on or before Closing, in Seller's sole subjective discretion, if Seller is to be released from liability under 237 such existing loan and Buyer does not obtain such compliance as set forth in § 4.6. 238 6. APPRAISAL PROVISIONS. 239 6.1. Appraisal Definition. An "Appraisal" is an opinion of value prepared by a licensed or certified appraiser, engaged on 240 behalf of Buyer or Buyer's lender, to determine the Property's market value (Appraised Value). The Appraisal may also set forth 241 certain lender requirements, replacements, removals or repairs necessary on or to the Property as a condition for the Property to be 242 valued at the Appraised Value. 243 6.2. Appraised Value. The applicable appraisal provision set forth below applies to the respective loan type set forth in 244 § 4.5.3., or if a cash transaction (i.e., no financing), § 6.2.1. applies. 245 6.2.1. Conventional/Other. Buyer has the right to obtain an Appraisal. If the Appraised Value is less than the 246 Purchase Price, or if the Appraisal is not received by Buyer on or before Appraisal Deadline Buyer may, on or before Appraisal 247 Objection Deadline: 248 6.2.1.1. Notice to Terminate. Notify Seller in writing, pursuant to § 24.1., that this Contract is terminated; 249 or 250 6.2.1.2. Appraisal Objection. Deliver to Seller a written objection accompanied by either a copy of the 251 Appraisal or written notice from lender that confirms the Appraised Value is less than the Purchase Price (Lender Verification). 252 6.2.1.3. Appraisal Resolution. If an Appraisal Objection is received by Seller, on or before Appraisal 253 Objection Deadline and if Buyer and Seller have not agreed in writing to a settlement thereof on or before Appraisal Resolution 254 Deadline, this Contract will terminate on the Appraisal Resolution Deadline, unless Seller receives Buyer's written withdrawal of 255 the Appraisal Objection before such termination, (i.e., on or before expiration of Appraisal Resolution Deadline). 256 6.3. Lender Property Requirements. If the lender imposes any written requirements, replacements, removals or repairs, 257 including any specified in the Appraisal (Lender Property Requirements) to be made to the Property (e.g., roof repair, repainting), 258 beyond those matters already agreed to by Seller in this Contract, this Contract terminates on the earlier of three days following 259 Seller's receipt of the Lender Property Requirements, or Closing, unless prior to termination: (1) the parties enter into a written 260 agreement to satisfy the Lender Property Requirements; (2) the Lender Property Requirements have been completed; or (3) the 261 satisfaction of the Lender Requirements is waived in writing by Buyer. 262 6.4. Cost of Appraisal. Cost of the Appraisal to be obtained after the date of this Contract must be timely paid by ❑ Buyer 263 ❑ Seller. The cost of the Appraisal may include any and all fees paid to the appraiser, appraisal management company, lender's 264 agent or all three. 265 7. OWNERS' ASSOCIATIONS. This Section is applicable if the Property is located within one or more Common Interest 266 Communities and subject to one or more declarations (Association). 267 7.1. Common Interest Community Disclosure. THE PROPERTY IS LOCATED WITHIN A COMMON 268 INTEREST COMMUNITY AND IS SUBJECT TO THE DECLARATION FOR THE COMMUNITY. THE OWNER OF 269 THE PROPERTY WILL BE REQUIRED TO BE A MEMBER OF THE OWNERS' ASSOCIATION FOR THE 270 COMMUNITY AND WILL BE SUBJECT TO THE BYLAWS AND RULES AND REGULATIONS OF THE 271 ASSOCIATION. THE DECLARATION, BYLAWS AND RULES AND REGULATIONS WILL IMPOSE FINANCIAL CBS4-6-21. CONTRACT TO Buyer initials Y AND SELL REAL ESTATE (LAND) 3115!2022 14:53 Page 6 of 20 Seller initials 272 OBLIGATIONS UPON THE OWNER OF THE PROPERTY, INCLUDING AN OBLIGATION TO PAY ASSESSMENTS 273 OF THE ASSOCIATION. IF THE OWNER DOES NOT PAY THESE ASSESSMENTS, THE ASSOCIATION COULD 274 PLACE A LIEN ON THE PROPERTY AND POSSIBLY SELL IT TO PAY THE DEBT. THE DECLARATION, BYLAWS 275 AND RULES AND REGULATIONS OF THE COMMUNITY MAY PROHIBIT THE OWNER FROM MAKING 276 CHANGES TO THE PROPERTY WITHOUT AN ARCHITECTURAL REVIEW BY THE ASSOCIATION (OR A 277 COMMITTEE OF THE ASSOCIATION) AND THE APPROVAL OF THE ASSOCIATION. PURCHASERS OF 278 PROPERTY WITHIN THE COMMON INTEREST COMMUNITY SHOULD INVESTIGATE THE FINANCIAL 279 OBLIGATIONS OF MEMBERS OF THE ASSOCIATION. PURCHASERS SHOULD CAREFULLY READ THE 280 DECLARATION FOR THE COMMUNITY AND THE BYLAWS AND RULES AND REGULATIONS OF THE 281 ASSOCIATION. 282 7.2. Association Documents to Buyer. Seller is obligated to provide to Buyer the Association Documents (defined below), 283 at Seller's expense, on or before Association Documents Deadline. Seller authorizes the Association to provide the Association 284 Documents to Buyer, at Seller's expense. Seller's obligation to provide the Association Documents is fulfilled upon Buyer's receipt 285 of the Association Documents, regardless of who provides such documents. 286 7.3. Association Documents. Association documents (Association Documents) consist of the following: 287 7.3.1. All Association declarations, articles of incorporation, bylaws, articles of organization, operating agreements, 288 rules and regulations, party wall agreements and the Association's responsible governance policies adopted under § 38-33.3-209.5, 289 C.R.S.; 290 7.3.2. Minutes of: (1) the annual owners' or members' meeting and (2) any executive boards' or managers' meetings; 291 such minutes include those provided under the most current annual disclosure required under § 38-33.3-209.4, C.R.S. (Annual 292 Disclosure) and minutes of meetings, if any, subsequent to the minutes disclosed in the Annual Disclosure. If none of the preceding 293 minutes exist, then the most recent minutes, if any (§§ 7.3.1. and 7.3.2., collectively, Governing Documents); and 294 7.3.3. List of all Association insurance policies as provided in the Association's last Annual Disclosure, including, 295 but not limited to, property, general liability, association director and officer professional liability and fidelity policies. The list must 296 include the company names, policy limits, policy deductibles, additional named insureds and expiration dates of the policies listed 297 (Association Insurance Documents); 298 7.3.4. A list by unit type of the Association's assessments, including both regular and special assessments as 299 disclosed in the Association's last Annual Disclosure; 300 7.3.5. The Association's most recent financial documents which consist of: (1) the Association's operating budget 301 for the current fiscal year, (2) the Association's most recent annual financial statements, including any amounts held in reserve for 302 the fiscal year immediately preceding the Association's last Annual Disclosure, (3) the results of the Association's most recent 303 available financial audit or review, (4) list of the fees and charges (regardless of name or title of such fees or charges) that the 304 Association's community association manager or Association will charge in connection with the Closing including, but not limited 305 to, any fee incident to the issuance of the Association's statement of assessments (Status Letter), any rush or update fee charged for 306 the Status Letter, any record change fee or ownership record transfer fees (Record Change Fee), fees to access documents, (5) list of 307 all assessments required to be paid in advance, reserves or working capital due at Closing and (6) reserve study, if any (§§ 7.3.4. and 308 7.3.5., collectively, Financial Documents); 309 7.3.6. Any written notice from the Association to Seller of a "construction defect action" under § 38-33.3-303.5, 310 C.R.S. within the past six months and the result of whether the Association approved or disapproved such action (Construction 311 Defect Documents). Nothing in this Section limits the Seller's obligation to disclose adverse material facts as required under § 10.2. 312 (Disclosure of Adverse Material Facts; Subsequent Disclosure; Present Condition) including any problems or defects in the common 313 elements or limited common elements of the Association property. 314 7.4. Conditional on Buyer's Review. Buyer has the right to review the Association Documents. Buyer has the Right to 315 Terminate under § 24.1., on or before Association Documents Termination Deadline, based on any unsatisfactory provision in 316 any of the Association Documents, in Buyer's sole subjective discretion. Should Buyer receive the Association Documents after 317 Association Documents Deadline, Buyer, at Buyer's option, has the Right to Terminate under § 24.1. by Buyer's Notice to 318 Terminate received by Seller on or before ten days after Buyer's receipt of the Association Documents. If Buyer does not receive 319 the Association Documents, or if Buyer's Notice to Terminate would otherwise be required to be received by Seller after Closing 320 Date, Buyer's Notice to Terminate must be received by Seller on or before Closing. If Seller does not receive Buyer's Notice to 321 Terminate within such time, Buyer accepts the provisions of the Association Documents as satisfactory and Buyer waives any Right 322 to Terminate under this provision, notwithstanding the provisions of § 8.6. (Third Party Right to Purchase/Approve). 323 8. TITLE INSURANCE, RECORD TITLE AND OFF -RECORD TITLE. 324 8.1. Evidence of Record Title. 325 Li 8.1.1. Seller Selects Title Insurance Company. If this box is checked, Seller will select the title insurance 326 company to furnish the owner's title insurance policy at Seller's expense. On or before Record Title Deadline, Seller must furnish 327 to Buyer, a current commitment for an owner's title insurance policy (Title Commitment), in an amount equal to the Purchase Price, CBS4.6.21. CONTRACT TO BAY ND SELL REAL ESTATE (LAND) 3/15/2022 14:53 Page 7 of 20 Buyer initials Seller initials 328 or if this box is checked, ❑ an Abstract of Title certified to a current date. Seller will cause the title insurance policy to be issued 329 and delivered to Buyer as soon as practicable at or after Closing. 330 ❑ 8.1.2. Buyer Selects Title Insurance Company. If this box is checked, Buyer will select the title insurance 331 company to furnish the owner's title insurance policy at Buyer's expense. On or before Record Title Deadline, Buyer must furnish to 332 Seller, a current commitment for owner's title insurance policy (Title Commitment), in an amount equal to the Purchase Price. 333 If neither box in § 8.1.1. or § 8.1.2. is checked, § 8.1.1. applies. 334 8.1.3. Owner's Extended Coverage (OEC). The Title Commitment ❑ Will ❑7c Will Not contain Owner's 335 Extended Coverage (OEC). If the Title Commitment is to contain OEC, it will commit to delete or insure over the standard exceptions 336 which relate to: (1) parties in possession, (2) unrecorded easements, (3) survey matters, (4) unrecorded mechanics' liens, (5) gap 337 period (period between the effective date and time of commitment to the date and time the deed is recorded) and (6) unpaid taxes, 338 assessments and unredeemed tax sales prior to the year of Closing. Any additional premium expense to obtain OEC will be paid by 339 ❑ Buyer ❑ Seller ❑ One -Half by Buyer and One -Half by Seller Et Other n/a. 340 Regardless of whether the Contract requires OEC, the Title Insurance Commitment may not provide OEC or delete or insure over 341 any or all of the standard exceptions for OEC. The Title Insurance Company may require a New Survey or New ILC, defined below, 342 among other requirements for OEC. If the Title Insurance Commitment is not satisfactory to Buyer, Buyer has a right to object under 343 § 8.7. (Right to Object to Title, Resolution). 344 8.1.4. Title Documents. Title Documents consist of the following: (1) copies of any plats, declarations, covenants, 345 conditions and restrictions burdening the Property and (2) copies of any other documents (or, if illegible, summaries of such 346 documents) listed in the schedule of exceptions (Exceptions) in the Title Commitment furnished to Buyer (collectively, Title 347 Documents). 348 8.1.5. Copies of Title Documents. Buyer must receive, on or before Record Title Deadline, copies of all Title 349 Documents. This requirement pertains only to documents as shown of record in the office of the clerk and recorder in the county 350 where the Property is located. The cost of furnishing copies of the documents required in this Section will be at the expense of the 351 party or parties obligated to pay for the owner's title insurance policy. 352 8.1.6. Existing Abstracts of Title. Seller must deliver to Buyer copies of any abstracts of title covering all or any 353 portion of the Property (Abstract of Title) in Seller's possession on or before Record Title Deadline. 354 8.2. Record Title. Buyer has the right to review and object to the Abstract of Title or Title Commitment and any of the 355 Title Documents as set forth in § 8.7. (Right to Object to Title, Resolution) on or before Record Title Objection Deadline. Buyer's 356 objection may be based on any unsatisfactory form or content of Title Commitment or Abstract of Title, notwithstanding § 13, or 357 any other unsatisfactory title condition, in Buyer's sole subjective discretion. If the Abstract of Title, Title Commitment or Title 358 Documents are not received by Buyer on or before the Record Title Deadline, or if there is an endorsement to the Title Commitment 359 that adds a new Exception to title, a copy of the new Exception to title and the modified Title Commitment will be delivered to 360 Buyer. Buyer has until the earlier of Closing or ten days after receipt of such documents by Buyer to review and object to: (1) any 361 required Title Document not timely received by Buyer, (2) any change to the Abstract of Title, Title Commitment or Title Documents, 362 or (3) any endorsement to the Title Commitment. If Seller receives Buyer's Notice to Terminate or Notice of Title Objection, 363 pursuant to this § 8.2. (Record Title), any title objection by Buyer is governed by the provisions set forth in § 8.7. (Right to Object 364 to Title, Resolution). If Seller has fulfilled all Seller's obligations, if any, to deliver to Buyer all documents required by § 8.1. 365 (Evidence of Record Title) and Seller does not receive Buyer's Notice to Terminate or Notice of Title Objection by the applicable 366 deadline specified above, Buyer accepts the condition of title as disclosed by the Abstract of Title, Title Commitment and Title 367 Documents as satisfactory. 368 8.3. Off -Record Title. Seller must deliver to Buyer, on or before Off -Record Title Deadline, true copies of all existing 369 surveys in Seller's possession pertaining to the Property and must disclose to Buyer all easements, liens (including, without 370 limitation, governmental improvements approved, but not yet installed) or other title matters not shown by public records, of which 371 Seller has actual knowledge (Off -Record Matters). This Section excludes any New ILC or New Survey governed under § 9 (New 372 ILC, New Survey). Buyer has the right to inspect the Property to investigate if any third party has any right in the Property not shown 373 by public records (e.g., unrecorded easement, boundary line discrepancy or water rights). Buyer's Notice to Terminate or Notice of 374 Title Objection of any unsatisfactory condition (whether disclosed by Seller or revealed by such inspection, notwithstanding § 8.2. 375 (Record Title) and § 13 (Transfer of Title), in Buyer's sole subjective discretion, must be received by Seller on or before Off -Record 376 Title Objection Deadline. If an Off -Record Matter is received by Buyer after the Off -Record Title Deadline, Buyer has until the 377 earlier of Closing or ten days after receipt by Buyer to review and object to such Off -Record Matter. If Seller receives Buyer's Notice 378 to Terminate or Notice of Title Objection pursuant to this § 8.3. (Off -Record Title), any title objection by Buyer is governed by the 379 provisions set forth in § 8.7. (Right to Object to Title, Resolution). If Seller does not receive Buyer's Notice to Terminate or Notice 380 of Title Objection by the applicable deadline specified above, Buyer accepts title subject to such Off -Record Matters and rights, if 381 any, of third parties not shown by public records of which Buyer has actual knowledge. 382 8.4. Special Taxing Districts. SPECIAL TAXING DISTRICTS MAY BE SUBJECT TO GENERAL OBLIGATION 383 INDEBTEDNESS THAT IS PAID BY REVENUES PRODUCED FROM ANNUAL TAX LEVIES ON THE TAXABLE 384 PROPERTY WITHIN SUCH DISTRICTS. PROPERTY OWNERS IN SUCH DISTRICTS MAY BE PLACED AT RISK CBS4-6.21. CONTRACT TO BUY Buyer initials ND S . REAL ESTATE (LAND) 3/15/2022 14:53 Page 8 of 20 Seller initials 385 FOR INCREASED MILL LEVIES AND TAX TO SUPPORT THE SERVICING OF SUCH DEBT WHERE 386 CIRCUMSTANCES ARISE RESULTING IN THE INABILITY OF SUC1I A DISTRICT TO DISCHARGE SUCH 387 INDEBTEDNESS WITHOUT SUCH AN INCREASE IN MILL LEVIES. BUYERS SHOULD INVESTIGATE THE 388 SPECIAL TAXING DISTRICTS IN WHICH THE PROPERTY IS LOCATED BY CONTACTING THE COUNTY 389 TREASURER, BY REVIEWING THE CERTIFICATE OF TAXES DUE,FOR THE PROPERTY AND BY OBTAINING 390 FURTHER INFORMATION FROM THE BOARD OF COUNTY COMMISSIONERS, THE COUNTY CLERK AND 391 RECORDER, OR THE COUNTY ASSESSOR. 392 8.5. Tax Certificate. A tax certificate paid for by J Seller ❑ Buyer, for the Property listing any special taxing districts 393 that affect the Property (Tax Certificate) must be delivered to Buyer on or before Record Title Deadline. If the Property is located 394 within a special taxing district and such inclusion is unsatisfactory to Buyer, in Buyer's sole subjective discretion, Buyer may 395 terminate, on or before Record Title Objection Deadline. Should Buyer receive the Tax Certificate after Record Title Deadline, 396 Buyer, at Buyer's option, has the Right to Terminate under § 24.1. by Buyer's Notice to Terminate received by Seller on or before 397 ten days after Buyer's receipt of the Tax Certificate. If Buyer does not receive the Tax Certificate, or if Buyer's Notice to Terminate 398 would otherwise be required to be received by Seller after Closing Date, Buyer's Notice to Terminate must be received by Seller on 399 or before Closing. If Seller does not receive Buyer's Notice to Terminate within such time, Buyer accepts the provisions of the Tax 400 Certificate and the inclusion of the Property in a special taxing district, if applicable, as satisfactory and Buyer waives any Right to 401 Terminate under this provision. If Buyer's loan specified in § 4.5.3. (Loan Limitations) prohibits Buyer from paying for the Tax 402 Certificate, the Tax Certificate will be paid for by Seller. 403 8.6. Third Party Right to Purchase/Approve. If any third party has a right to purchase the Property (e.g., right of first 404 refusal on the Property, right to purchase the Property under a lease or an option held by a third party to purchase the Property) or a 405 right of a third party to approve this Contract, Seller must promptly submit this Contract according to the terms and conditions of 406 such right. If the third -party holder of such right exercises its right this Contract will terminate. If the third party's right to purchase 407 is waived explicitly or expires, or the Contract is approved, this Contract will remain in full force and effect. Seller must promptly 408 notify Buyer in writing of the foregoing. If the third party right to purchase is exercised or approval of this Contract has not occurred 409 on or before Third Party Right to Purchase/Approve Deadline, this Contract will then terminate. Seller will supply to Buyer, in 410 writing, details of any Third Party Right to Purchase the Property on or before the Record Title Deadline. 411 8.7. Right to Object to Title, Resolution. Buyer has a right to object or terminate, in Buyer's sole subjective discretion, 412 based on any title matters including those matters set forth in § 8.2, (Record Title), § 8.3. (Off -Record Title), § 8.5. (Special Taxing 413 District) and § 13 (Transfer of Title). If Buyer exercises Buyer's rights to object or terminate based on any such title matter, on or 414 before the applicable deadline, Buyer has the following options: 415 8.7.1. Title Objection, Resolution. If Seller receives Buyer's written notice objecting to any title matter (Notice of 416 Title Objection) on or before the applicable deadline and if Buyer and Seller have not agreed to a written settlement thereof on or 417 before Title Resolution Deadline, this Contract will terminate on the expiration of Title Resolution Deadline, unless Seller receives 418 Buyer's written withdrawal of Buyer's Notice of Title Objection (i.e., Buyer's written notice to waive objection to such items and 419 waives the Right to Terminate for that reason), on or before expiration of Title Resolution Deadline. If either the Record Title 420 Deadline or the Off -Record Title Deadline, or both, are extended pursuant to § 8.2. (Record Title) or § 8.3. (Off -Record Title) the 421 Title Resolution Deadline also will be automatically extended to the earlier of Closing or fifteen days after Buyer's receipt of the 422 applicable documents; or 423 8.7.2. Title Objection, Right to Terminate. Buyer may exercise the Right to Terminate under § 24.1., on or before 424 the applicable deadline, based on any title matter unsatisfactory to Buyer, in Buyer's sole subjective discretion. 425 8.8. Title Advisory. The Title Documents affect the title, ownership and use of the Property and should be reviewed 426 carefully. Additionally, other matters not reflected in the Title Documents may affect the title, ownership and use of the Property, 427 including, without limitation, boundary lines and encroachments, set -back requirements, area, zoning, building code violations, 428 unrecorded easements and claims of easements, leases and other unrecorded agreements, water on or under the Property and various 429 laws and governmental regulations concerning land use, development and environmental matters. 430 8.8.1. OIL, GAS, WATER AND MINERAL DISCLOSURE. THE SURFACE ESTATE OF THE 431 PROPERTY MAY BE OWNED SEPARATELY FROM THE UNDERLYING MINERAL ESTATE AND TRANSFER OF 432 THE SURFACE ESTATE MAY NOT NECESSARILY INCLUDE TRANSFER OF THE MINERAL ESTATE OR WATER 433 RIGHTS. THIRD PARTIES MAY OWN OR LEASE INTERESTS IN OIL, GAS, OTHER MINERALS, GEOTHERMAL 434 ENERGY OR WATER ON OR UNDER THE SURFACE OF THE PROPERTY, WHICH INTERESTS MAY GIVE THEM 435 RIGHTS TO ENTER AND USE THE SURFACE OF THE PROPERTY TO ACCESS THE MINERAL ESTATE, OIL, 436 GAS OR WATER. 437 8.8.2. SURFACE USE AGREEMENT. THE USE OF THE SURFACE ESTATE OF THE PROPERTY TO 438 ACCESS THE OIL, GAS OR MINERALS MAY BE GOVERNED BY A SURFACE USE AGREEMENT, A 439 MEMORANDUM OR OTHER NOTICE OF WHICH MAY BE RECORDED WITH THE COUNTY CLERK AND 440 RECORDER. 441 8.8.3. OIL AND GAS ACTIVITY. OIL AND GAS ACTIVITY THAT MAY OCCUR ON OR ADJACENT CBS4-6-21. CONTRACT TO BUYSELL REAL ESTATE (LAND) 3/15/2022 14:53 Page 9 of 20 Buyer initials ,{\ /% Seller initials 442 TO THE PROPERTY MAY INCLUDE, BUT IS NOT LIMITED TO, SURVEYING, DRILLING, WELL COMPLETION 443 OPERATIONS, STORAGE, OIL AND GAS, OR PRODUCTION FACILITIES, PRODUCING WELLS, REWORKING 444 OF CURRENT WELLS AND GAS GATHERING AND PROCESSING FACILITIES. 445 8.8.4. ADDITIONAL INFORMATION. BUYER IS ENCOURAGED TO SEEK ADDITIONAL 446 INFORMATION REGARDING OIL AND GAS ACTIVITY ON OR ADJACENT TO THE PROPERTY, INCLUDING 447 DRILLING PERMIT APPLICATIONS. THIS INFORMATION MAY BE AVAILABLE FROM THE COLORADO OIL 448 AND GAS CONSERVATION COMMISSION. 449 8.8.5. Title Insurance Exclusions. Matters set forth in this Section and others, may be excepted, excluded from, or 450 not covered by the owner's title insurance policy. 451 8.9. Mineral Rights Review. Buyer ❑ Does 11 Does Not have a Right to Terminate if examination of the Mineral 452 Rights is unsatisfactory to Buyer on or before the Mineral Rights Examination Deadline. 453 454 455 456 457 458 459 460 461 462 463 464 465 466 467 468 469 470 471 472 473 474 475 476 477 478 479 480 481 482 483 9. NEW ILC, NEW SURVEY. 9.1. New ILC or New Survey. If the box is checked, (1) ❑ New Improvement Location Certificate (New ILC); or, (2) ❑ New Survey in the form of N/A; is required and the following will apply: 9.1.1. Ordering of New ILC or New Survey. ❑ Seller ❑ Buyer will order the New ILC or New Survey. The New ILC or New Survey may also be a previous ILC or survey that is in the above -required form, certified and updated as of a date after the date of this Contract. 9.1.2. Payment for New ILC or New Survey. The cost of the New ILC or New Survey will be paid, on or before Closing, by: ❑ Seller ❑ Buyer or: N/A 9.1.3. Delivery of New ILC or New Survey. Buyer, Seller, the issuer of the Title Commitment (or the provider of the opinion of title if an Abstract of Title) and N/A will receive a New ILC or New Survey on or before New ILC or New Survey Deadline. 9.1.4. Certification of New ILC or New Survey. The New ILC or New Survey will be certified by the surveyor to all those who are to receive the New ILC or New Survey. 9.2. Buyer's Right to Waive or Change New ILC or New Survey Selection. Buyer may select a New ILC or New Survey different than initially specified in this Contract if there is no additional cost to Seller or change to the New ILC or New Survey Objection Deadline. Buyer may, in Buyer's sole subjective discretion, waive a New ILC or New Survey if done prior to Seller incurring any cost for the same. 9.3. New ILC or New Survey Objection. Buyer has the right to review and object based on the New ILC or New Survey. If the New ILC or New Survey is not timely received by Buyer or is unsatisfactory to Buyer, in Buyer's sole subjective discretion, Buyer may, on or before New ILC or New Survey Objection Deadline, notwithstanding § 8.3. or § 13: 9.3.1. Notice to Terminate. Notify Seller in writing, pursuant to § 24.1., that this Contract is terminated; or 9.3.2. New ILC or New Survey Objection. Deliver to Seller a written description of any matter that was to be shown or is shown in the New ILC or New Survey that is unsatisfactory and that Buyer requires Seller to correct. 9.3.3. New ILC or New Survey Resolution. If a New ILC or New Survey Objection is received by Seller, on or before New ILC or New Survey Objection Deadline and if Buyer and Seller have not agreed in writing to a settlement thereof on or before New ILC or New Survey Resolution Deadline, this Contract will terminate on expiration of the New ILC or New Survey Resolution Deadline, unless Seller receives Buyer's written withdrawal of the New ILC or New Survey Objection before such termination (i.e., on or before expiration of New ILC or New Survey Resolution Deadline). DISCLOSURE, INSPECTION AND DUE DILIGENCE 484 10. PROPERTY DISCLOSURE, INSPECTION, INDEMNITY, INSURABILITY, DUE DILIGENCE SOURCE OF 485 WATER. 486 10.1. Seller's Property Disclosure. On or before Seller's Property Disclosure Deadline, Seller agrees to deliver to Buyer 487 the most current version of the applicable Colorado Real Estate Commission's Seller's Property Disclosure form completed by Seller 488 to Seller's actual knowledge and current as of the date of this Contract. 489 10.2. Disclosure of Adverse Material Facts; Subsequent Disclosure; Present Condition. Seller must disclose to Buyer 490 any adverse material facts actually known by Seller as of the date of this Contract. Seller agrees that disclosure of adverse material 491 facts will be in writing. In the event Seller discovers an adverse material fact after the date of this Contract, Seller must timely 492 disclose such adverse fact to Buyer. Buyer has the Right to Terminate based on the Seller's new disclosure on the earlier of Closing 493 or five days after Buyer's receipt of the new disclosure. Except as otherwise provided in this Contract, Buyer acknowledges that 494 Seller is conveying the Property to Buyer in an "As Is" condition, "Where Is" and "With All Faults." 495 10.3. Inspection. Unless otherwise provided in this Contract, Buyer, acting in good faith, has the right to have inspections CBS4-6.21. CONTR CT TT AND SELL REAL ESTATE (LAND) 3/15/2022 14:53 Page 10 or 20 Buyer initials Seller initials 496 (by one or more third parties, personally or both) of the Property, Leased Items, and Inclusions (Inspection), at Buyer's expense. If 497 (1) the physical condition of the Property, including, but not limited to, the roof, walls, structural integrity of the Property, the 498 electrical, plumbing, HVAC and other mechanical systems of the Property, (2) the physical condition of the Inclusions and Leased 499 Items, (3) service to the Property (including utilities and communication services), systems and components of the Property (e.g., 500 heating and plumbing), (4) any proposed or existing transportation project, road, street or highway, or (5) any other activity, odor or 501 noise (whether on or off the Property) and its effect or expected effect on the Property or its occupants is unsatisfactory, in Buyer's 502 sole subjective discretion, Buyer may: 503 10.3.1. Inspection Termination. On or before the Inspection Termination Deadline, notify Seller in writing, 504 pursuant to § 24.1., that this Contract is terminated due to any unsatisfactory condition, provided the Buyer did not previously deliver 505 an Inspection Objection. Buyer's Right to Terminate under this provision expires upon delivery of an Inspection Objection to Seller 506 pursuant to § 10.3.2.; or 507 10.3.2. Inspection Objection. On or before the Inspection Objection Deadline, deliver to Seller a written 508 description of any unsatisfactory condition that Buyer requires Seller to correct. 509 10.3.3. Inspection Resolution. If an Inspection Objection is received by Seller, on or before Inspection Objection 510 Deadline and if Buyer and Seller have not agreed in writing to a settlement thereof on or before Inspection Resolution Deadline, 511 this Contract will terminate on Inspection Resolution Deadline unless Seller receives Buyer's written withdrawal of the Inspection 512 Objection before such termination (i.e., on or before expiration of Inspection Resolution Deadline). Nothing in this provision 513 prohibits the Buyer and the Seller from mutually terminating this Contract before the Inspection Resolution Deadline passes by 514 executing an Earnest Money Release. 515 10.4. Damage, Liens and Indemnity. Buyer, except as otherwise provided in this Contract or other written agreement 516 between the parties, is responsible for payment for all inspections, tests, surveys, engineering reports, or other reports performed at 517 Buyer's request (Work) and must pay for any damage that occurs to the Property and Inclusions as a result of such Work. Buyer 518 must not permit claims or liens of any kind against the Property for Work performed on the Property. Buyer agrees to indemnify, 519 protect and hold Seller harmless from and against any liability, damage, cost or expense incurred by Seller and caused by any such 520 Work, claim, or lien. This indemnity includes Seller's right to recover all costs and expenses incurred by Seller to defend against 521 any such liability, damage, cost or expense, or to enforce this Section, including Seller's reasonable attorney fees, legal fees and 522 expenses. The provisions of this Section survive the termination of this Contract. This § 10.4. does not apply to items performed 523 pursuant to an Inspection Resolution. 524 10.5. Insurability. Buyer has the Right to Terminate under § 24.1., on or before Property Insurance Termination 525 Deadline, based on any unsatisfactory provision of the availability, terms and conditions and premium for property insurance 526 (Property Insurance) on the Property, in Buyer's sole subjective discretion. 527 10.6. Due Diligence. 528 10.6.1. Due Diligence Documents. Seller agrees to deliver copies of the following documents and information 529 pertaining to the Property and Leased Items (Due Diligence Documents) to Buyer on or before Due Diligence Documents Delivery 530 Deadline: 531 10.6.1.1. Occupancy Agreements. All current leases, including any amendments or other occupancy 532 agreements, pertaining to the Property. Those leases or other occupancy agreements pertaining to the Property that survive Closing 533 are as follows (Leases): 534 N/A 535 536 10.6.1.2. Leased Items Documents. If any lease of personal property (§ 2.5.4., Leased Items) will be 537 transferred to Buyer at Closing, Seller agrees to deliver copies of the leases and information pertaining to the personal property to 538 Buyer on or before Due Diligence Documents Delivery Deadline. Buyer ❑ Will ❑ Will Not assume the Seller's obligations 539 under such leases for the Leased Items (§ 2.5.4., Leased Items). 540 541 10.6.1.3. Encumbered Inclusions Documents. If any Inclusions owned by Seller are encumbered 542 pursuant to § 2,5.2. (Encumbered Inclusions) above, Seller agrees to deliver copies of the evidence of debt, security and any other 543 documents creating the encumbrance to Buyer on or before Due Diligence Documents Delivery Deadline. Buyer ❑ Will ❑ Will 544 Not assume the debt on the Encumbered Inclusions (§ 2.5.2., Encumbered Inclusions). 545 546 10.6.1.4. Other Documents. If the respective box is checked, Seller agrees to additionally deliver copies 547 of the following: 548 ❑ 10.6.1.4.1. All contracts relating to the operation, maintenance and management of the 549 Property; 550 ❑ 10.6.1.4.2. Property tax bills for the last N/A years; 551 ❑ 10.6.1.4.3. As -built construction plans to the Property and the tenant improvements, including CBS4-6-21. CONT CT TO BUYL REAL ESTATE (LAND) 3/15/2022 14:53 Page 11 of 20 Buyer initials K —r Seller initials 552 architectural, electrical, mechanical and structural systems; engineering reports; and permanent Certificates of Occupancy, to the 553 extent now available; 554 ❑ 10.6.1.4.4. A list of all Inclusions to be conveyed to Buyer; 555 ❑ 10.6.1.4.5. Operating statements for the past N/A years; 556 ❑ 10.6.1.4.6. A rent roll accurate and correct to the date of this Contract; 557 ❑ 10.6.1.4.7. A schedule of any tenant improvement work Seller is obligated to complete but 558 has not yet completed and capital improvement work either scheduled or in process on the date of this Contract; 559 ❑ 10.6.1.4.8. All insurance policies pertaining to the Property and copies of any claims which 560 have been made for the past N/A years; 561 0 10.6.1.4.9. Soils reports, surveys and engineering reports or data pertaining to the Property (if 562 not delivered earlier under § 8.3.); 563 ❑7[ 10.6.1.4.10. Any and all existing documentation and reports regarding Phase I and II 564 environmental reports, letters, test results, advisories and similar documents respective to the existence or nonexistence of asbestos, 565 PCB transformers, or other toxic, hazardous or contaminated substances and/or underground storage tanks and/or radon gas. If no 566 reports are in Seller's possession or known to Seller, Seller warrants that no such reports are in Seller's possession or known to 567 Seller; 568 ❑ 10.6.1.4.11. Any Americans with Disabilities Act reports, studies or surveys concerning the 569 compliance of the Property with said Act; 570 El 10.6.1.4.12. All permits, licenses and other building or use authorizations issued by any 571 governmental authority with jurisdiction over the Property and written notice of any violation of any such permits, licenses or use 572 authorizations, if any; and 573 ❑ 10.6.1.4.13. Other: 574 N/A 575 576 577 578 579 580 10.6.2. Due Diligence Documents Review and Objection. Buyer has the right to review and object based on the Due 581 Diligence Documents. If the Due Diligence Documents are not supplied to Buyer or are unsatisfactory, in Buyer's sole subjective 582 discretion, Buyer may, on or before Due Diligence Documents Objection Deadline: 583 10.6.2.1. Notice to Terminate. Notify Seller in writing, pursuant to § 24.1., that this Contract is terminated; 584 or 585 10.6.2.2. Due Diligence Documents Objection. Deliver to Seller a written description of any 586 unsatisfactory Due Diligence Documents that Buyer requires Seller to correct. 587 10.6.2.3. Due Diligence Documents Resolution. If a Due Diligence Documents Objection is received by 588 Seller, on or before Due Diligence Documents Objection Deadline and if Buyer and Seller have not agreed in writing to a settlement 589 thereof on or before Due Diligence Documents Resolution Deadline, this Contract will terminate on Due Diligence Documents 590 Resolution Deadline unless Seller receives Buyer's written withdrawal of the Due Diligence Documents Objection before such 591 termination (i.e., on or before expiration of Due Diligence Documents Resolution Deadline). 592 10.6.3. Zoning. Buyer has the Right to Terminate under § 24.1., on or before Due Diligence Documents Objection 593 Deadline, based on any unsatisfactory zoning and any use restrictions imposed by any governmental agency with jurisdiction over 594 the Property, in Buyer's sole subjective discretion. 595 10.6.4. Due Diligence — Environmental, ADA. Buyer has the right to obtain environmental inspections of the 596 Property including Phase I and Phase II Environmental Site Assessments, as applicable. ❑ Seller ❑Q Buyer will order or provide 597 Phase I Environmental Site Assessment, Phase II Environmental Site Assessment (compliant with most current version of the 598 applicable ASTM El 527 standard practices for Environmental Site Assessments) and/or N/A, 599 at the expense of ❑ Seller Buyer (Environmental Inspection). In addition, Buyer, at Buyer's expense, may also conduct an 600 evaluation whether the Property complies with the Americans with Disabilities Act (ADA Evaluation). All such inspections and 601 evaluations must be conducted at such times as are mutually agreeable to minimize the interruption of Seller's and any Seller's 602 tenants' business uses of the Property, if any. 603 If Buyer's Phase I Environmental Site Assessment recommends a Phase II Environmental Site Assessment, the Environmental 604 Inspection Termination Deadline will be extended by 30 days (Extended Environmental Inspection 605 Objection Deadline) and if such Extended Environmental Inspection Objection Deadline extends beyond the Closing Date, the 606 Closing Date will be extended a like period of time. In such event, ❑ Seller ❑x Buyer must pay the cost for such Phase II 607 Environmental Site Assessment. 608 Notwithstanding Buyer's right to obtain additional environmental inspections of the Property in this § 10.6.4., Buyer has the CBS4-6-21. Co ACT • BUY SELL REAL ESTATE (LAND) 3/15/2022 14:53 Page 12 of 20 Buyer initials '_ Seller initials 609 Right to Terminate under § 24. L, on or before Environmental Inspection Termination Deadline, or if applicable, the Extended 610 Environmental Inspection Objection Deadline, based on any unsatisfactory results of Environmental Inspection, in Buyer's sole 611 subjective discretion. 612 Buyer has the Right to Terminate under § 24.1., on or before ADA Evaluation Termination Deadline, based on any 613 unsatisfactory ADA Evaluation, in Buyer's sole subjective discretion. 614 10.7. Conditional Upon Sale of Property. This Contract is conditional upon the sale and closing of that certain property 615 owned by Buyer and commonly known as N/A. Buyer has 616 the Right to Terminate under § 24.1. effective upon Seller's receipt of Buyer's Notice to Terminate on or before Conditional Sale 617 Deadline if such property is not sold and closed by such deadline. This Section is for the sole benefit of Buyer. If Seller does not 618 receive Buyer's Notice to Terminate on or before Conditional Sale Deadline, Buyer waives any Right to Terminate under this 619 provision. 620 10.8. Source of Potable Water (Residential Land and Residential Improvements Only). Buyer ❑ Does ❑% Does Not 621 acknowledge receipt of a copy of Seller's Property Disclosure or Source of Water Addendum disclosing the source of potable water for 622 the Property. 0 There is No Well. Buyer ❑% Does ❑ Does Not acknowledge receipt of a copy of the current well permit. 623 Note to Buyer: SOME WATER PROVIDERS RELY, TO VARYING DEGREES, ON NONRENEWABLE GROUND 624 WATER. YOU MAY WISH TO CONTACT YOUR PROVIDER (OR INVESTIGATE THE DESCRIBED SOURCE) TO 625 DETERMINE THE LONG-TERM SUFFICIENCY OF THE PROVIDER'S WATER SUPPLIES. 626 10.9. Existing Leases; Modification of Existing Leases; New Leases. Seller states that none of the Leases to be assigned 627 to the Buyer at the time of Closing contain any rent concessions, rent reductions or rent abatements except as disclosed in the Lease 628 or other writing received by Buyer. Seller will not amend, alter, modify, extend or cancel any of the Leases nor will Seller enter into 629 any new leases affecting the Property without the prior written consent of Buyer, which consent will not be unreasonably withheld 630 or delayed. 631 10.10. Lead -Based Paint. [Intentionally Deleted - See Residential Addendum if applicable] 632 10.11. Carbon Monoxide Alarms. [Intentionally Deleted - See Residential Addendum if applicable] 633 10.12. Methamphetamine Disclosure. [Intentionally Deleted - See Residential Addendum if applicable] 634 11. TENANT ESTOPPEL STATEMENTS. 635 11.1. Estoppel Statements Conditions. Buyer has the right to review and object to any Estoppel Statements. Seller must 636 request from all tenants of the Property and if received by Seller, deliver to Buyer on or before Estoppel Statements Deadline, 637 statements in a form and substance reasonably acceptable to Buyer, from each occupant or tenant at the Property (Estoppel Statement) 638 attached to a copy of the Lease stating: 639 11.1.1. The commencement date of the Lease and scheduled termination date of the Lease; 640 11.1.2. That said Lease is in full force and effect and that there have been no subsequent modifications or 641 amendments; 642 11.1.3. The amount of any advance rentals paid, rent concessions given and deposits paid to Seller; 643 11.1.4. The amount of monthly (or other applicable period) rental paid to Seller; 644 11.1.5. That there is no default under the terms of said Lease by landlord or occupant; and 645 11.1.6. That the Lease to which the Estoppel Statement is attached is a true, correct and complete copy of the Lease 646 demising the premises it describes. 647 11.2. Seller Estoppel Statement. In the event Seller does not receive from all tenants of the Property a completed signed 648 Estoppel Statement, Seller agrees to complete and execute an Estoppel Statement setting forth the information and documents 649 required § 11.1 above and deliver the same to Buyer on or before Estoppel Statements Deadline. 650 11.3. Estoppel Statements Termination. Buyer has the Right to Terminate under § 24.1., on or before Estoppel 651 Statements Termination Deadline, based on any unsatisfactory Estoppel Statement, in Buyer's sole subjective discretion, or if 652 Seller fails to deliver the Estoppel Statements on or before Estoppel Statements Deadline. Buyer also has the unilateral right to 653 waive any unsatisfactory Estoppel Statement. 654 CLOSING PROVISIONS 655 12. CLOSING DOCUMENTS, INSTRUCTIONS AND CLOSING. 656 12.1. Closing Documents and Closing Information. Seller and Buyer will cooperate with the Closing Company to enable 657 the Closing Company to prepare and deliver documents required for Closing to Buyer and Seller and their designees. If Buyer is 658 obtaining a loan to purchase the Property, Buyer acknowledges Buyer's lender is required to provide the Closing Company, in a 659 timely manner, all required loan documents and financial information concerning Buyer's loan. Buyer and Seller will furnish any 660 additional information and documents required by Closing Company that will be necessary to complete this transaction. Buyer and 661 Seller will sign and complete all customary or reasonably -required documents at or before Closing. CBS4-6-21. CONT CT TO B A. D . - L REAL ESTATE (LAND) 3/15/2022 14:53 Page 13 of 20 Buyer initials Seller initials 662 12.2. Closing Instructions. Colorado Real Estate Commission's Closing Instructions ❑ Are 0 Are Not executed with 663 this Contract. 664 12.3. Closing. Delivery of deed from Seller to Buyer will be at closing (Closing). Closing will be on the date specified as 665 the Closing Date or by mutual agreement at an earlier date. At Closing, Seller agrees to deliver a set of keys for the Property to 666 Buyer. The hour and place of Closing will be as designated by Seller. 667 12.4. Disclosure of Settlement Costs. Buyer and Seller acknowledge that costs, quality and extent of service vary between 668 different settlement service providers (e.g., attorneys, lenders, inspectors and title companies). 669 12.5. Assignment of Leases. Seller must assign to Buyer all Leases at Closing that will continue after Closing and Buyer 670 must assume Seller's obligations under such Leases. Further, Seller must transfer to Buyer all Leased Items and assign to Buyer such 671 leases for the Leased Items accepted by Buyer pursuant to § 2.5.4. (Leased Items). 672 13. TRANSFER OF TITLE. Subject to Buyer's compliance with the terms and provisions of this Contract, including the tender 673 of any payment due at Closing, Seller must execute and deliver the following good and sufficient deed to Buyer, at Closing: ❑ 674 special warranty deed ❑x general warranty deed El bargain and sale deed ❑ quit claim deed ❑ personal representative's deed 675 ❑ N/A deed. Seller, provided another deed is not selected, must execute and deliver a good and 676 sufficient special warranty deed to Buyer, at Closing. 677 Unless otherwise specified in § 29 (Additional Provisions), if title will be conveyed using a special warranty deed or a general 678 warranty deed, title will be conveyed "subject to statutory exceptions" as defined in § 38-30-113(5)(a), C.R.S. 679 14. PAYMENT OF LIENS AND ENCUMBRANCES. Unless agreed to by Buyer in writing, any amounts owed on any liens 680 or encumbrances securing a monetary sum against the Property and Inclusions, including any governmental liens for special 681 improvements installed as of the date of Buyer's signature hereon, whether assessed or not, and previous years' taxes, will be paid 682 at or before Closing by Seller from the proceeds of this transaction or from any other source. 683 15. CLOSING COSTS, FEES, ASSOCIATION STATUS LETTER AND DISBURSEMENTS, TAXES AND 684 WITHHOLDING. 685 15.1. Closing Costs. Buyer and Seller must pay, in Good Funds, their respective closing costs and all other items required 686 to be paid at Closing, except as otherwise provided herein. 687 15.2. Closing Services Fee. The fee for real estate closing services must be paid at Closing by El Buyer ❑ Seller 688 ❑x One -Half by Buyer and One -Half by Seller ❑ Other N/A. 689 15.3. Association Fees and Required Disbursements. At least fourteen days prior to Closing Date, Seller agrees to 690 promptly request that the Closing Company or the Association deliver to Buyer a current Status Letter, if applicable. Any fees 691 associated with or specified in the Status Letter will be paid as follows: 692 15.3.1. Status Letter Fee. Any fee incident to the issuance of Association's Status Letter must be paid by El Buyer 693 ❑ Seller ❑ One -Half by Buyer and One -Half by Seller 0 N/A. 694 15.3.2. Record Change Fee. Any Record Change Fee must be paid by ❑ Buyer ❑ Seller ❑ One -Half by Buyer 695 and One -Half by Seller 0 N/A. 696 15.3.3. Assessments, Reserves or Working Capital. All assessments required to be paid in advance (other than 697 Association Assessments as defined in § 16.2. (Association Assessments), reserves or working capital due at Closing must be paid 698 by ❑ Buyer ❑ Seller ❑ One -Half by Buyer and One -Half by Seller 0 N/A. 699 15.3.4. Other Fees. Any other fee listed in the Status Letter as required to be paid at Closing will be paid by ❑ 700 Buyer ❑ Seller ❑ One -Half by Buyer and One -Half by Seller 0 N/A. 701 15.4. Local Transfer Tax. Any Local Transfer Tax must be paid at Closing by ❑ Buyer ❑ Seller El One -Half by 702 Buyer and One -Half by Seller 0 N/A. 703 15.5. Sales and Use Tax. Any sales and use tax that may accrue because of this transaction must be paid when due by 704 El Buyer El Seller El One -Half by Buyer and One -Half by Seller N/A. 705 15.6. Private Transfer Fee. Any private transfer fees and other fees due to a transfer of the Property, payable at Closing, 706 such as community association fees, developer fees and foundation fees, must be paid at Closing by ❑ Buyer ❑ Seller 707 ❑ One -Half by Buyer and One -Half by Seller 0 N/A. 708 15.7. Water Transfer Fees. Water Transfer Fees can change. The fees, as of the date of this Contract, do not exceed 709 $ N/A for: 710 ❑ Water Stock/Certificates ❑ Water District 711 ❑ Augmentation Membership ❑ Small Domestic Water Company ❑ N/A 712 and must be paid at Closing by ❑ Buyer El Seller ❑ One -Half by Buyer and One -Half by Seller 0 N/A. 713 15.8. Utility Transfer Fees. Utility transfer fees can change. Any fees to transfer utilities from Seller to Buyer must be 714 paid by El Buyer ❑ Seller ❑ One -Half by Buyer and One -Half by Seller El N/A. 715 15.9. FIRPTA and Colorado Withholding. CBS4.6-21. CONTRACT TO AND ELL REAL ESTATE (LAND) 3/15/2022 14:53 Page 14 of 20 Buyer initials Seller initials 716 15.9.1. FIRPTA. The Internal Revenue Service (IRS) may require a substantial portion of the Seller's proceeds be 717 withheld after Closing when Seller is a foreign person. If required withholding does not occur, the Buyer could be held liable for the 718 amount of the Seller's tax, interest and penalties. If the box in this Section is checked, Seller represents that Seller ❑ IS a foreign 719 person for purposes of U.S. income taxation. If the box in this Section is not checked, Seller represents that Seller is not a foreign 720 person for purposes of U.S. income taxation. Seller agrees to cooperate with Buyer and Closing Company to provide any reasonably 721 requested documents to verify Seller's foreign person status. If withholding is required, Seller authorizes Closing Company to 722 withhold such amount from Seller's proceeds. Seller should inquire with Seller's tax advisor to determine if withholding applies or 723 if an exemption exists. 724 15.9.2. Colorado Withholding. The Colorado Department of Revenue may require a portion of the Seller's proceeds 725 be withheld after Closing when Seller will not be a Colorado resident after Closing, if not otherwise exempt. Seller agrees to 726 cooperate with Buyer and Closing Company to provide any reasonably requested documents to verify Seller's status. If withholding 727 is required, Seller authorizes Closing Company to withhold such amount from Seller's proceeds. Seller should inquire with Seller's 728 tax advisor to determine if withholding applies or if an exemption exists. 729 16. PROBATIONS AND ASSOCIATION ASSESSMENTS. 730 16.1. Prorations. The following will be prorated to the Closing Date, except as otherwise provided: 731 16.1.1. Taxes. Personal property taxes, if any, special taxing district assessments, if any, and general real estate taxes 732 for the year of Closing, based on ❑ Taxes for the Calendar Year Immediately Preceding Closing 0 Most Recent Mill Levy 733 and Most Recent Assessed Valuation, ❑ Other N/A. 734 16.1.2. Rents. Rents based on ❑ Rents Actually Received ❑ Accrued. At Closing, Seller will transfer or credit 735 to Buyer the security deposits for all Leases assigned to Buyer, or any remainder after lawful deductions, and notify all tenants in 736 writing of such transfer and of the transferee's name and address. 737 16.1.3. Other Prorations. Water and sewer charges, propane, interest on continuing loan, and N/A. 738 16.1.4. Final Settlement. Unless otherwise specified in Additional Provisions, these prorations are final. 739 16.2. Association Assessments. Current regular Association assessments and dues (Association Assessments) paid in 740 advance will be credited to Seller at Closing. Cash reserves held out of the regular Association Assessments for deferred maintenance 741 by the Association will not be credited to Seller except as may be otherwise provided by the Governing Documents. Buyer 742 acknowledges that Buyer may be obligated to pay the Association, at Closing, an amount for reserves or working capital. Any special 743 assessment assessed prior to Closing Date by the Association will be the obligation of Cl Buyer ❑ Seller. Except however, any 744 special assessment by the Association for improvements that have been installed as of the date of Buyer's signature hereon, whether 745 assessed prior to or after Closing, will be the obligation of Seller unless otherwise specified in Additional Provisions. Seller represents 746 there are no unpaid regular or special assessments against the Property except the current regular assessments and 747 N/A Association Assessments are subject to change as provided in the Governing Documents. 748 17. POSSESSION. Possession of the Property and Inclusions will be delivered to Buyer on Possession Date at Possession Time, 749 subject to the Leases as set forth in § 10.6.1.1. 750 If Seller, after Closing occurs, fails to deliver possession as specified, Seller will be subject to eviction and will be additionally 751 liable to Buyer, notwithstanding § 20.2. (If Seller is in Default), for payment of $ 300.00 per day (or any part of a day 752 notwithstanding § 3.3., Day) from Possession Date and Possession Time until possession is delivered. 753 GENERAL PROVISIONS 754 18. CAUSES OF LOSS, INSURANCE; DAMAGE TO INCLUSIONS AND SERVICES; CONDEMNATION; AND 755 WALK-THROUGH. Except as otherwise provided in this Contract, the Property, Inclusions or both will be delivered in the 756 condition existing as of the date of this Contract, ordinary wear and tear excepted. 757 18.1. Causes of Loss, Insurance. In the event the Property or Inclusions are damaged by fire, other perils or causes of loss 758 prior to Closing (Property Damage) in an amount of not more than ten percent of the total Purchase Price and if the repair of the 759 damage will be paid by insurance (other than the deductible to be paid by Seller), then Seller, upon receipt of the insurance proceeds, 760 will use Seller's reasonable efforts to repair the Property before Closing Date. Buyer has the Right to Terminate under § 24.1., on 761 or before Closing Date, if the Property is not repaired before Closing Date, or if the damage exceeds such sum. Should Buyer elect 762 to carry out this Contract despite such Property Damage, Buyer is entitled to a credit at Closing for all insurance proceeds that were 763 received by Seller (but not the Association, if any) resulting from damage to the Property and Inclusions, plus the amount of any 764 deductible provided for in the insurance policy. This credit may not exceed the Purchase Price. In the event Seller has not received 765 the insurance proceeds prior to Closing, the parties may agree to extend the Closing Date to have the Property repaired prior to 766 Closing or, at the option of Buyer, (1) Seller must assign to Buyer the right to the proceeds at Closing, if acceptable to Seller's 767 insurance company and Buyer's lender; or (2) the parties may enter into a written agreement prepared by the parties or their attorney 768 requiring the Seller to escrow at Closing from Seller's sale proceeds the amount Seller has received and will receive due to such 769 damage, not exceeding the total Purchase Price, plus the amount of any deductible that applies to the insurance claim. CBS4-6-21. CONTRACT TOLBUXAND SELL REAL ESTATE (LAND) 3/15/2022 14:53 Page 15 of 26 Buyer initials £./L Seller initials 770 18.2. Damage, Inclusions and Services. Should any Inclusion or service (including utilities and communication services), 771 system, component or fixture of the Property (collectively Service) (e.g., heating or plumbing), fail or be damaged between the date 772 of this Contract and Closing or possession, whichever is earlier, then Seller is liable for the repair or replacement of such Inclusion 773 or Service with a unit of similar size, age and quality, or an equivalent credit, but only to the extent that the maintenance or 774 replacement of such Inclusion or Service is not the responsibility of the Association, if any, less any insurance proceeds received by 775 Buyer covering such repair or replacement. If the failed or damaged Inclusion or Service is not repaired or replaced on or before 776 Closing or possession, whichever is earlier, Buyer has the Right to Terminate under § 24.1., on or before Closing Date, or, at the 777 option of Buyer, Buyer is entitled to a credit at Closing for the repair or replacement of such Inclusion or Service. Such credit must 778 not exceed the Purchase Price. If Buyer receives such a credit, Seller's right for any claim against the Association, if any, will survive 779 Closing. 780 18.3. Condemnation. In the event Seller receives actual notice prior to Closing that a pending condemnation action may 781 result in a taking of all or part of the Property or Inclusions, Seller must promptly notify Buyer, in writing, of such condemnation 782 action. Buyer has the Right to Terminate under § 24.1., on or before Closing Date, based on such condemnation action, in Buyer's 783 sole subjective discretion. Should Buyer elect to consummate this Contract despite such diminution of value to the Property and 784 Inclusions, Buyer is entitled to a credit at Closing for all condemnation proceeds awarded to Seller for the diminution in the value 785 of the Property or Inclusions but such credit will not include relocation benefits or expenses or exceed the Purchase Price. 786 18.4. Walk -Through and Verification of Condition. Buyer, upon reasonable notice, has the right to walk through the 787 Property prior to Closing to verify that the physical condition of the Property and Inclusions complies with this Contract. 788 18.5. Home Warranty. [Intentionally Deleted] 789 18.6. Risk of Loss — Growing Crops. The risk of loss for damage to growing crops by fire or other casualty will be borne 790 by the party entitled to the growing crops as provided in § 2.8. and such party is entitled to such insurance proceeds or benefits for 791 the growing crops. 792 19. RECOMMENDATION OF LEGAL AND TAX COUNSEL. By signing this Contract, Buyer and Seller acknowledge that 793 their respective broker has advised that this Contract has important legal consequences and has recommended: (1) legal examination 794 of title; (2) consultation with legal and tax or other counsel before signing this Contract as this Contract may have important legal 795 and tax implications; (3) to consult with their own attorney if Water Rights, Mineral Rights or Leased Items are included or excluded 796 in the sale; and (4) to consult with legal counsel if there are other matters in this transaction for which legal counsel should be 797 engaged and consulted. Such consultations must be done timely as this Contract has strict time limits, including deadlines, that must 798 be complied with. 799 800 20. TIME OF ESSENCE, DEFAULT AND REMEDIES. Time is of the essence for all dates and deadlines in this Contract. 801 This means that all dates and deadlines are strict and absolute. If any payment due, including Earnest Money, is not paid, honored 802 or tendered when due, or if any obligation is not performed timely as provided in this Contract or waived, the non -defaulting party 803 has the following remedies: 804 20.1. If Buyer is in Default: 805 ❑ 20.1.1. Specific Performance. Seller may elect to cancel this Contract and all Earnest Money (whether or not paid 806 by Buyer) will be paid to Seller and retained by Seller. It is agreed that the Earnest Money is not a penalty, and the parties agree the 807 amount is fair and reasonable. Seller may recover such additional damages as may be proper. Alternatively, Seller may elect to treat 808 this Contract as being in full force and effect and Seller has the right to specific performance or damages, or both. 809 20.1.2. Liquidated Damages, Applicable. This § 20.1.2. applies unless the box in * 20.1.1. is checked. Seller may 810 cancel this Contract. All Earnest Money (whether or not paid by Buyer) will be paid to Seller and retained by Seller. It is agreed that 811 the Earnest Money specified in § 4.1. is LIQUIDATED DAMAGES and not a penalty, which amount the parties agree is 812 fair and reasonable and (except as provided in §§ 10.4. and 21), such amount is SELLER'S ONLY REMEDY for Buyer's failure to 813 perform the obligations of this Contract. Seller expressly waives the remedies of specific performance and additional damages. 814 20.2. If Seller is in Default: 815 20.2.1. Specific Performance, Damages or Both. Buyer may elect to treat this Contract as canceled, in which case 816 all Earnest Money received hereunder will be returned to Buyer and Buyer may recover such damages as may be proper. 817 Alternatively, in addition to the per diem in § 17 (Possession) for failure of Seller to timely deliver possession of the Property after 818 Closing occurs, Buyer may elect to treat this Contract as being in full force and effect and Buyer has the right to specific performance 819 or damages, or both. 820 20.2.2. Seller's Failure to Perform. In the event Seller fails to perform Seller's obligations under this Contract, to 821 include, but not limited to, failure to timely disclose Association violations known by Seller, failure to perform any replacements or 822 repairs required under this Contract or failure to timely disclose any known adverse material facts, Seller remains liable for any such 823 failures to perform under this Contract after Closing. Buyer's rights to pursue the Seller for Seller's failure to perform under this 824 Contract are reserved and survive Closing. CBS4-6-21. CONT CT TO Bt�Y AND LL REAL ESTATE (LAND) 3/15/2022 14:53 Page 16 or 20 Buyer initials _LI Seller initials 825 21. LEGAL FEES, COST AND EXPENSES. Anything to the contrary herein notwithstanding, in the event of any arbitration 826 or litigation relating to this Contract, prior to or after Closing Date, the arbitrator or court must award to the prevailing party all 827 reasonable costs and expenses, including attorney fees, legal fees and expenses. 828 22. MEDIATION. If a dispute arises relating to this Contract (whether prior to or after Closing) and is not resolved, the parties 829 must first proceed, in good faith, to mediation. Mediation is a process in which the parties meet with an impartial person who helps 830 to resolve the dispute informally and confidentially. Mediators cannot impose binding decisions. Before any mediated settlement is 831 binding, the parties to the dispute must agree to the settlement, in writing. The parties will jointly appoint an acceptable mediator 832 and will share equally in the cost of such mediation. The obligation to mediate, unless otherwise agreed, will terminate if the entire 833 dispute is not resolved within thirty days of the date written notice requesting mediation is delivered by one party to the other at that 834 party's last known address (physical or electronic as provided in § 26). Nothing in this Section prohibits either party from filing a 835 lawsuit and recording a lis pendens affecting the Property, before or after the date of written notice requesting mediation. This 836 Section will not alter any date in this Contract, unless otherwise agreed. 837 23. EARNEST MONEY DISPUTE. Except as otherwise provided herein, Earnest Money Holder must release the Earnest 838 Money following receipt of written mutual instructions, signed by both Buyer and Seller. In the event of any controversy regarding 839 the Earnest Money, Earnest Money Holder is not required to release the Earnest Money. Earnest Money Holder, in its sole subjective 840 discretion, has several options: (1) wait for any proceeding between Buyer and Seller; (2) interplead all parties and deposit Earnest 841 Money into a court of competent jurisdiction (Earnest Money Holder is entitled to recover court costs and reasonable attorney and 842 legal fees incurred with such action); or (3) provide notice to Buyer and Seller that unless Earnest Money Holder receives a copy of 843 the Summons and Complaint or Claim (between Buyer and Seller) containing the case number of the lawsuit (Lawsuit) within one 844 hundred twenty days of Earnest Money Holder's notice to the parties, Earnest Money Holder is authorized to return the Earnest 845 Money to Buyer. In the event Earnest Money Holder does receive a copy of the Lawsuit and has not interpled the monies at the time 846 of any Order, Earnest Money Holder must disburse the Earnest Money pursuant to the Order of the Court. The parties reaffirm the 847 obligation of § 22 (Mediation). This Section will survive cancellation or termination of this Contract. 848 24. TERMINATION. 849 24.1. Right to Terminate. If a party has a right to terminate, as provided in this Contract (Right to Terminate), the 850 termination is effective upon the other party's receipt of a written notice to terminate (Notice to Terminate), provided such written 851 notice was received on or before the applicable deadline specified in this Contract. If the Notice to Terminate is not received on or 852 before the specified deadline, the party with the Right to Terminate accepts the specified matter, document or condition as satisfactory 853 and waives the Right to Terminate under such provision. 854 24.2. Effect of Termination. In the event this Contract is terminated, and all Earnest Money received hereunder is timely 855 returned to Buyer, the parties are relieved of all obligations hereunder, subject to §§ 10.4. and 21. 856 25. ENTIRE AGREEMENT, MODIFICATION, SURVIVAL; SUCCESSORS. This Contract, its exhibits and specified 857 addenda, constitute the entire agreement between the parties relating to the subject hereof and any prior agreements pertaining 858 thereto, whether oral or written, have been merged and integrated into this Contract. No subsequent modification of any of the terms 859 of this Contract is valid, binding upon the parties, or enforceable unless made in writing and signed by the parties. Any right or 860 obligation in this Contract that, by its terms, exists or is intended to be performed after termination or Closing survives the same. 861 Any successor to a party receives the predecessor's benefits and obligations of this Contract. 862 26. NOTICE, DELIVERY AND CHOICE OF LAW. 863 26.1. Physical Delivery and Notice. Any document or notice to Buyer or Seller must be in writing, except as provided in 864 § 26.2. and is effective when physically received by such party, any individual named in this Contract to receive documents or 865 notices for such party, Broker, or Brokerage Firm of Broker working with such party (except any notice or delivery after Closing 866 must be received by the party, not Broker or Brokerage Firm). 867 26.2. Electronic Notice. As an alternative to physical delivery, any notice may be delivered in electronic form to Buyer or 868 Seller, any individual named in this Contract to receive documents or notices for such party, Broker or Brokerage Firm of Broker 869 working with such party (except any notice or delivery after Closing, cancellation or Termination must be received by the party, not 870 Broker or Brokerage Firm) at the electronic address of the recipient by facsimile, email or N/A . 871 26.3. Electronic Delivery. Electronic Delivery of documents and notice may be delivered by: (1) email at the email address 872 of the recipient, (2) a link or access to a website or server provided the recipient receives the information necessary to access the 873 documents, or (3) facsimile at the facsimile number (Fax No.) of the recipient. 874 26.4. Choice of Law. This Contract and all disputes arising hereunder are governed by and construed in accordance with 875 the laws of the State of Colorado that would be applicable to Colorado residents who sign a contract in Colorado for real property 876 located in Colorado. CBS4-6-21. CONT Buyer initials AND SELL REAL ESTATE (LAND) 3/15/2022 14:53 Page 17 0120 Seller initials 877 27. NOTICE OF ACCEPTANCE, COUNTERPARTS. This proposal will expire unless accepted in writing, by Buyer and 878 Seller, as evidenced by their signatures below and the offering party receives notice of such acceptance pursuant to § 26 on or before 879 Acceptance Deadline Date and Acceptance Deadline Time. If accepted, this document will become a contract between Seller and 880 Buyer. A copy of this Contract may be executed by each party, separately and when each party has executed a copy thereof, such 881 copies taken together are deemed to be a full and complete contract between the parties. 882 28. GOOD FAITH. Buyer and Seller acknowledge that each party has an obligation to act in good faith including, but not limited 883 to, exercising the rights and obligations set forth in the provisions of Financing Conditions and Obligations; Title Insurance, 884 Record Title and Off -Record Title; New ILC, New Survey; and Property Disclosure, Inspection, Indemnity, Insurability Due 885 Diligence and Source of Water. 886 ADDITIONAL PROVISIONS AND ATTACHMENTS 887 29. ADDITIONAL PROVISIONS. (The following additional provisions have not been approved by the Colorado Real Estate 888 Commission.) 889 1. BUYER IDENTITY. Broker working with Buyer is not authorized to disclose the identity of the Buyer until after MEC of this Agreement. Buyer identity shall be disclosed to Seller within 48 hours of MEC of this Agreement. At which time, Buyer and Seller agree to amend this Agreement to reflect the identity of the Buyer. 2. PROOF OF FUNDS. Buyer shall, within 48 HOURS of MEC, provide listing broker with a verification indicating that the cash indicated in the contract is in fact on deposit and available for immediate withdrawal without restriction or limitation, and shall remain so until the date of Closing. 890 891 892 893 894 895 896 897 898 899 900 30. OTHER DOCUMENTS. 901 30.1. Documents Part of Contract. The following documents are a part of this Contract: 902 N/A 903 904 905 30.2. Documents Not Part of Contract. The following documents have been provided but are not a part of this Contract: 906 N/A 907 908 909 910 Buyer's Name: X Buyer's Signature SIGNATURES Date CBS4-6-21. CONTRACT TO BUY AN -SELL REAL ESTATE (LAND) 3/15/2022 14:53 Page 18 of 20 Buyer initials f\ X) \ Seller initials do.? - //off Address: N/A N/A Phone No.: N/A Fax No.: N/A Email Address: N/A 911 [NOTE: If this offer is being countered or rejected, do not sign this document.] Seller's Name: Blake Allen Armstrong and Darla Marie Armstrong 912 913 gide ,4��ea rfemettvirrt 03/16/2022 Seller's Signature Blake Allen Armstrong Date Address: N/A N/A Phone No.: N/A Fax No.: N/A Email Address: N/A Dada �aiie 74.mettvirt 03/16/2022 Seller's Signature Darla Marie Armstrong Address: N/A N/A Phone No.: N/A Fax No.: N/A Email Address: N/A Date END OF CONTRACT TO BUY AND SELL REAL ESTATE BROKER'S ACKNOWLEDGMENTS AND COMPENSATION DISCLOSURE. A. Broker Working with Buyer Broker ❑ Does L] Does Not acknowledge receipt of Earnest Money deposit. Broker agrees that if Brokerage Firm is the Earnest Money Holder and, except as provided in § 23, if the Earnest Money has not already been returned following receipt of a Notice to Terminate or other written notice of termination, Earnest Money Holder will release the Earnest Money as directed by the written mutual instructions. Such release of Earnest Money will be made within five days of Earnest Money Holder's receipt of the executed written mutual instructions, provided the Earnest Money check has cleared. Broker is working with Buyer as a El Buyer's Agent ❑ Transaction -Broker in this transaction. ❑ Customer. Broker has no brokerage relationship with Buyer. See § B for Broker's brokerage relationship with Seller. CBS4-6-21. CONT ACT TO BUY AD11) LL REAL ESTATE (LAND) 3/15/2022 14:53 Page 19 of 20 Buyer initials / //%` Seller initials Brokerage Firm's compensation or commission is to be paid by ❑x Listing Brokerage Firm ❑ Buyer ❑ Other N/A. This Broker's Acknowledgements and Compensation Disclosure is for disclosure purposes only and does NOT create any claim for compensation. Any compensation agreement between the brokerage firms must be entered into separately and apart from this provision. Brokerage Firm's Namc: Brokerage Firm's License #: Broker's Name: Broker's License #: Address: Phone No.: Fax No.: Email Address: Sears Real Estate EC.000016970 Jamison R. Walsh EA.100078285 DocuSigned by: 84F3DAFCFCC5458_. 3/16/2022 18:07 PM MDT Broker's Signature: 2021 Clubhouse Dr Ste 100 Greeley, CO 80634 (970) 330-7700 (970)330-4766 jamison@searsrealestate.com Date B. Broker Working with Seller Broker El Does © Does Not acknowledge receipt of Earnest Money deposit. Broker agrees that if Brokerage Firm is the Earnest Money Holder and, except as provided in § 23, if the Earnest Money has not already been returned following receipt of a Notice to Terminate or other written notice of termination, Earnest Money Holder will release the Earnest Money as directed by the written mutual instructions. Such release of Earnest Money will be made within five days of Earnest Money Holder's receipt of the executed written mutual instructions, provided the Earnest Money check has cleared. Broker is working with Seller as ER Seller's Agent El Transaction -Broker in this transaction. ❑ Customer. Broker has no brokerage relationship with Seller. See § A for Broker's brokerage relationship with Buyer. Brokerage Firm's compensation or commission is to be paid by ❑X Seller El Buyer El Other N/A. This Broker's Acknowledgements and Compensation Disclosure is for disclosure purposes only and does NOT create any claim for compensation. Any compensation agreement between the brokerage firms must be entered into separately and apart from this provision. Brokerage Firm's Name: Brokerage Firm's License #: Broker's Name: Broker's License #: Address: Phone No.: Fax No.: Email Address: JPAR Modern Real Estate Co EC100015367 Jeremy Raskin FA1000504494D (ZaS'!fd/! (Zee" i Broker's Signature: 6410 Miller Street, Unit 12 Arvada, CO 80004 (303)433-3158 (720)457-3062 info@jparmodernre.com 03/16/2022 Date CBS4-6-21. CONTRACT TO B Buyer initials AN ELL REAL ESTATE (LAND) 3/15/2022 14:53 Page 20 of 20 Seller initials 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 SEARS RIAL [STAYS Sears Real Estate 2021 Clubhouse Drive Suite 100 Greeley, CO 80634 Phone: (970)330-7700 Fax: (970)330-4766 www.searsrealestate.com The printed portions of this form, except differentiated additions, have been approved by the Colorado Real Estate Commission. (AE4I-6-21) (Mandatory 1-22) THIS FORM HAS IMPORTANT LEGAL CONSEQUENCES AND THE PARTIES SHOULD CONSULT LEGAL AND TAX OR OTHER COUNSEL BEFORE SIGNING. AGREEMENT TO AMEND/EXTEND CONTRACT Date: March 21, 2022 1. This agreement amends the contract dated March 15, 2022 (Contract), between Blake Allen Armstrong and Darla Marie Armstrong(Seller), and X (Buyer), relating to the sale and purchase of the following legally described real estate in the County of Weld, Colorado (insert legal description): PT NW4 29-1-63 LOT B REC EXEMPT RECX15—0148 known as No. 0 County Road 6 Keenesburg CO 80643 (Property). Street Address City State Zip NOTE: If the table is omitted, or if any item is left blank or is marked in the "No Change" column, it means no change to the corresponding provision of the Contract. If any item is marked in the "Deleted" column, it means that the corresponding provision of the Contract to which reference is made is deleted. 2. § 3.1. Dates and Deadlines. [Note: This table may be omitted if inapplicable.] OMITTED AS INAPPLICABLE. 31 32 3. Other dates or deadlines set forth in the Contract are changed as follows: 33 No Change 34 35 36 37 38 4. Additional amendments: 39 1. BUYER IDENTITY. In accordance with the terms set forth in the Agreement, § 2.1 of the Agreement is amended to read: "2.1. Buyer. Weld County, (Buyer) will take title to the Property described below as ( ] Joint Tenants ( I Tenants In Common (XI Other In Severalty." 2. BUYER SIGNATORY. Signatory for the Buyer shall be: "Scott K. James, Chair, Board of County Commissioners, Weld County, Colorado." 40 41 42 43 AE41-6-21. AGREEMENT TO END/EXTEND CONTRACT 3/21/2022 12:28 Page 1 or 2 Buyer initials Seller initials 44 45 46 47 48 49 50 51 52 53 54 All other terms and conditions of the Contract remain the same. 55 56 This proposal expires unless accepted in writing by Seller and Buyer as evidenced by their signatures below and the offering party 57 to this document receives notice of such acceptance on or before Day of Closing Time of Closing 58 59 60 61 Date Time Buyer's Name: Scott K. James, Chair, Board of County Commissioners, Weld County, Colorado Buyer's Signature Date Seller's Name: Blake Allen Armstrong U/de 41/e4 %hrcS'tm 03/21/2022 Seller's Signature Seller's Name: Darla Marie Armstrong Date Otula RaNi ern e/qv 03/21/2022 Seller's Signature Date AE41-6-21. AGREEMENT MEND/EXTEND CONTRACT 3/21/2022 12:28 Page 2 of 2 Buyer initials Seller initials SEARS REAL ESTATE Sears Real Estate 2021 Clubhouse Drive Suite 100 Greeley, CO 80634 Phone: (970)330-7700 Fax: (970)330-4766 www.searsrealestate.com 1 I The printed portions of this form, except differentiated additions, have been. approved by the Colorado Real Estate Commission. 2 (BC60-6-19) (Mandatory 1-20) 3 4 THIS IS A BINDING CONTRACT. THIS FORM HAS IMPORTANT LEGAL CONSEQUENCES AND THE PARTIES SHOULD 5 CONSULT LEGAL AND TAX OR OTHER COUNSEL BEFORE SIGNING. 6 Compensation charged by brokerage firms is not set by law. Such charges are established by each real estate brokerage firm. 7 DIFFERENT BROKERAGE RELATIONSHIPS ARE AVAILABLE WHICH INCLUDE BUYER AGENCY, SELLER AGENCY OR 8 TRANSACTION -BROKERAGE. 9 10 EXCLUSIVE RIGHT -TO -BUY LISTING CONTRACT 11 D BUYER AGENCY ❑ TRANSACTION -BROKERAGE 12 13 Date: March 15, 2022 14 1. AGREEMENT. Buyer and Brokerage Firm enter into this exclusive, irrevocable contract (Buyer Listing Contract) and agree 15 to its provisions. Broker, on behalf of Brokerage Firm, agrees to provide brokerage services to Buyer. Brokerage Firm will receive 16 compensation as set forth in this Buyer Listing Contract. 17 2. BROKER AND BROKERAGE FIRM. 18 0 2.1. Multiple -Person Firm. If this box is checked, "Broker" (as defined below) is the individual designated by Brokerage 19 Firm to serve as the broker of Buyer and to perform the services for Buyer required by this Buyer Listing Contract. If more than one 20 individual is so designated, then references in this Buyer Listing Contract to Broker include all persons so designated, including 21 substitute or additional brokers. The brokerage relationship exists only with Broker and does not extend to the employing broker, 22 Brokerage Firm or to any other brokers employed or engaged by Brokerage Firm who are not so designated. 23 ❑ 2.2. One -Person Firm. If this box is checked, Broker (as defined below) is a brokerage firm with only one licensed person. 24 References in this Buyer Listing Contract to Broker or Brokerage Firm mean both the licensed person and brokerage firm, who serve 25 as the Broker of Buyer and perform the services for Buyer required by this Buyer Listing Contract. 26 3. DEFINED TERMS. 27 3.1. Buyer: Weld County 28 and any other person or entity on whose behalf the named party acts, directly or indirectly, to Purchase the Property. 29 3.2. Brokerage Firm: Sears Real Estate 30 33. Broker: Jamison R. Walsh 31 3.4. Property. Property means real estate which substantially meets the following requirements or is acceptable to Buyer. 32 0 CR 6, Keensburg, CO 33 34 35 3.5. Purchase; Lease. 36 3.5.1. A "Purchase" of Property means the acquisition of any interest in the Property or the creation of the right to 37 acquire any interest in the Property, including a contract or lease. It also includes an agreement to acquire any ownership interest in 38 an entity that owns the Property. 39 ❑ 3.5.2. If this box is checked, Buyer authorizes Broker to negotiate a lease of the Property. Lease of the Property or 40 Lease means any agreement between a landlord and the Buyer to create a tenancy or leasehold interest in the Property. 41 3.6. Listing Period. The Listing Period of this Buyer Listing Contract begins on March 15, 2022, and continues No. BC60-6-19. EXCLUSIVE RIGHT -TO -BUY LISTING CONTRACT 3/14/2022 16:40 Page 1 of 7 42 through the earlier of (1) completion of the Purchase of the Property or Lease of the Property or (2) April 30, 2022, 43 and any written extensions (Listing Period). Broker will continue to assist in the completion of any purchase or lease for which 44 compensation is payable to Brokerage Firm under § 7 of this Buyer Listing Contract. 45 3.7. Applicability of Terms. A check or similar mark in a box means that such provision is applicable. The abbreviation "N/A" 46 or the word "Deleted" means not applicable. The abbreviation "MEC" (mutual execution of this contract) means the date upon which 47 both parties have signed this Buyer Listing Contract. 48 3.8. Day; Computation of Period of Days, Deadline. 49 3.8.1. Day. As used in this Buyer Listing Contract, the term "day" means the entire day ending at 11:59 p.m., United 50 States Mountain Time (Standard or Daylight Savings as applicable). 51 3.8.2. Computation of Period of Days, Deadline. In computing a period of days, when the ending date is not 52 specified, e.g., three days after MEC, the first day is excluded and the last day is included. If any deadline falls on a Saturday, Sunday 53 or federal or Colorado state holiday (Holiday), such deadline ❑ Will El Will Not be extended to the next day that is not a Saturday, 54 Sunday or Holiday. Should neither box be checked, the deadline will not be extended. 55 4. BROKERAGE RELATIONSHIP. 56 4.1. If the Buyer Agency box at the top of page 1 is checked, Broker represents Buyer as Buyer's limited agent (Buyer's 57 Agent). If the Transaction -Brokerage box at the top of page 1 is checked, Broker acts as a Transaction -Broker. 58 4.2. In -Company Transaction — Different Brokers. When the seller and Buyer in a transaction are working with different 59 brokers within the Brokerage Firm, those brokers continue to conduct themselves consistent with the brokerage relationships they 60 have established. Buyer acknowledges that Brokerage Firm is allowed to offer and pay compensation to brokers within Brokerage 61 Firm working with a seller. 62 4.3. In -Company Transaction — One Broker. If the seller and Buyer are both working with the same Broker, Broker will 63 function as: 64 4.3.1. Buyer's Agent. If the Buyer Agency box at the top of page 1 is checked, the parties agree the following applies: 65 4.3.1.1. Buyer Agency Unless Brokerage Relationship with Both. Broker represents Buyer as Buyer's 66 Agent and must treat the seller as a customer. A customer is a party to a transaction with whom Broker has no brokerage relationship. 67 However, if Broker delivers to Buyer a written Change of Status that Broker has a brokerage relationship with the seller then Broker 68 is working with both Buyer and seller as a Transaction Broker. If the box in § 4.3.1.2 (Buyer Agency Only) is checked, § 4.3.1.2 69 (Buyer Agency Only) applies instead. 70 ❑ 4.3.1.2. Buyer Agency Only. If this box is checked, Broker represents Buyer as Buyer's Agent and must treat 71 the seller as a customer. Broker must disclose to such customer Broker's relationship with Buyer. 72 4.3.2. Transaction -Broker. If the Transaction -Brokerage box at the top of page 1 is checked, or in the event neither 73 box is checked, Broker must work with Buyer as a Transaction -Broker. A Transaction -Broker must perform the duties described in 74 § 5 and facilitate purchase transactions without being an advocate or agent for either party. If the seller and Buyer are working with 75 the same Broker, Broker must continue to function as a Transaction -Broker. 76 5. BROKERAGE DUTIES. Brokerage Firm, acting through Broker, as either a Transaction -Broker or a Buyer's Agent, must 77 perform the following Uniform Duties when working with Buyer: 78 5.1. Broker must exercise reasonable skill and care for Buyer, including but not limited to the following: 79 5.1.1. Performing the terms of any written or oral agreement with Buyer; 80 5.1.2. Presenting all offers to and from Buyer in a timely manner regardless of whether Buyer is already a party to a 81 contract for the Purchase of Property; 82 5.1.3. Disclosing to Buyer adverse material facts actually known by Broker; 83 5.1.4. Advising Buyer regarding the transaction and advising Buyer to obtain expert advice as to material matters about 84 which Broker knows but the specifics of which are beyond the expertise of Broker; 85 5.1.5. Accounting in a timely manner for all money and property received; and 86 5.1.6. Keeping Buyer fully informed regarding the transaction. 87 5.2. Broker must not disclose the following information without the informed consent of Buyer: 88 5.2.1. That Buyer is willing to pay more than the purchase price offered for the Property; 89 5.2.2. What Buyer's motivating factors are; 90 5.2.3. That Buyer will agree to financing terms other than those offered; or 91 5.2.4. Any material information about Buyer unless disclosure is required by law or failure to disclose such information 92 would constitute fraud or dishonest dealing. 93 5.3. Buyer consents to Broker's disclosure of Buyer's confidential information to the supervising broker or designee for the 94 purpose of proper supervision, provided such supervising broker or designee does not further disclose such information without 95 consent of Buyer, or use such information to the detriment of Buyer. 96 5.4. Broker may show properties in which Buyer is interested to other prospective buyers without breaching any duty or No. BC60-6-19. EXCLUSIVE RIGHT -TO -BUY LISTING CONTRACT 3/14/2022 16:40 Page 2 of 7 97 obligation to Buyer. Broker is not prohibited from showing competing buyers the same property and from assisting competing buyers 98 in attempting to purchase a particular property. 99 5.5. Broker is not obligated to seek other properties while Buyer is already a party to a contract for the Purchase of Property. 100 5.6. Broker has no duty to conduct an independent inspection of the Property for the benefit of Buyer and has no duty to 101 independently verify the accuracy or completeness of statements made by a seller or independent inspectors. Broker has no duty to 102 conduct an independent investigation of Buyer's financial condition or to verify the accuracy or completeness of any statement made 103 by Buyer. 104 5.7. Broker must disclose to any prospective seller all adverse material facts actually known by Broker, including but not 105 limited to adverse material facts concerning Buyer's financial ability to perform the terms of the transaction and whether Buyer 106 intends to occupy the Property as a principal residence. 107 5.8. Buyer understands that Buyer is not liable for Broker's acts or omissions that have not been approved, directed or ratified 108 by Buyer. 109 6. ADDITIONAL DUTIES OF BUYER'S AGENT. If the Buyer Agency box at the top of page 1 is checked, Broker is Buyer's 110 Agent, with the following additional duties: 111 6.1. Promoting the interests of Buyer with the utmost good faith, loyalty and fidelity; 112 6.2. Seeking a price and terms that are acceptable to Buyer; and 113 6.3. Counseling Buyer as to any material benefits or risks of a transaction that are actually known by Broker. 114 7. COMPENSATION TO BROKERAGE FIRM. In consideration of the services to be performed by Broker, Brokerage Firm 115 will be paid as set forth in this section, with no discount or allowance for any efforts made by Buyer or any other person. Unless 116 otherwise agreed to in writing, Brokerage Firm is entitled to receive additional compensation, bonuses, and incentives paid by listing 117 brokerage firm or seller. Broker will inform Buyer of the fee to be paid to Brokerage Firm and, if there is a written agreement, Broker 118 will supply a copy to Buyer, upon written request of Buyer. 119 7.1. Brokerage Firm's Fee — Purchase. 120 Check Compensation Arrangement: 121 0 7.1.1. Success Fee. Brokerage Firm will be paid as follows: 122 7.1.1.1. Amount. A fee equal to 3. 0 % of the purchase price, but not less than $ N/A , except 123 as provided in § 7.1.1.2. 124 7.1.1.2. Adjusted Amount. ❑ See § 21 (Additional Provisions) or ❑ Other N/A. 125 7.1.1.3. When Earned; When Payable — Purchase. The Success Fee is earned by Brokerage Firm upon the 126 Purchase of Property and is payable upon closing of the transaction. If any transaction fails to close as a result of the seller's default, 127 with no fault on the part of Buyer, the Success Fee will be waived. If any transaction fails to close as a result of Buyer's default, in 128 whole or in part, the Success Fee will not be waived; such fee is payable upon Buyer's default, but not later than the date that the 129 closing of the transaction was to have occurred. 130 ❑ 7.1.2. Hourly Fee. Brokerage Firm will be paid $ N/A per hour for time spent by Broker pursuant to this 131 Buyer Listing Contract, up to a maximum total fee of $ N/A . This hourly fee is payable to Brokerage Firm upon receipt of 132 an invoice from Brokerage Firm. 133 ❑ 7.1.3. Retainer Fee. Buyer will pay Brokerage Firm a nonrefundable retainer fee of $ N/A due and payable 134 upon signing of this Buyer Listing Contract. This amount ❑ Will ❑ Will Not be credited against other fees payable to Brokerage 135 Firm under this section. 136 ❑ 7.1.4. Other Compensation. N/A. 137 7.2. Brokerage Firm's Fee — Lease. If the box in § 3.5.2 is checked, Brokerage Firm will be paid a fee as follows, less any 138 amounts paid by the listing brokerage firm or landlord: 139 7.2.1. Amount. $ N/A per square N/A , or N/A , 140 except as provided in § 7.2.2. 141 7.2.2. Adjusted Amount. ❑ See § 21 (Additional Provisions) or ❑ Other N/A. 142 7.23. Other. N/A. 143 7.2.4. When Earned; When Payable — Lease. This Lease fee is earned upon the mutual execution of the Lease. One - 144 half of this Lease fee is payable upon mutual execution of the Lease and one-half upon possession of the premises by tenant or as 145 follows: N/A. If the Lease, executed after the date of this Buyer Listing Contract, contains an option to extend or renew, or if 146 Buyer expands into additional space within the building or complex where the Property is located, Brokerage Firm ❑ Will 0 Will 147 Not be paid a fee upon exercise of such extension or renewal option or expansion. If Brokerage Firm is to be paid a fee for such 148 extension, renewal or expansion, the amount of such fee and its payment are as follows: 149 N/A. 150 73. Who Will Pay Brokerage Firm's Success Fee. 151 ❑ 7.3.1. Listing Brokerage Firm or Seller May Pay. Buyer IS Obligated to Pay. Broker is authorized and instructed No. BC60-6-19. EXCLUSIVE RIGHT -TO -BUY LISTING CONTRACT 3/14/2022 16:40 Page 3 of 7 152 to request payment of Brokerage Firm's Success Fee from the listing brokerage firm or seller. Buyer is obligated to pay any portion 153 of Brokerage Firm's Success Fee which is not paid by the listing brokerage firm or seller. 154 ❑ 7.3.2. Buyer Will Pay. Buyer is obligated to pay Brokerage Firm's Success Fee. Brokerage Firm is NOT entitled to 155 receive additional compensation, bonuses or incentives from listing brokerage firm, seller or any other source. 156 ❑X 7.3.3. Listing Brokerage Firm or Seller May Pay. Buyer is NOT Obligated to Pay. Broker is authorized to obtain 157 payment of Brokerage Firm's Success Fee from the listing brokerage firm or seller. Provided Buyer has fulfilled Buyer's obligations 158 in this Buyer Listing Contract, Buyer is not obligated to pay Brokerage Firm's Success Fee. 159 If no box is checked above, then § 7.3.3 (Buyer is NOT Obligated to Pay) will apply. 160 7.4. Holdover Period. Brokerage Firm's Success Fee applies to Property contracted for (or leased if § 3.5.2 is checked) 161 during the Listing Period of this Buyer Listing Contract or any extensions and also applies to Property contracted for or leased within 162 90 calendar days after the Listing Period expires (Holdover Period) (1) if the Property is one on which Broker negotiated and (2) 163 if Broker submitted its address or other description in writing to Buyer during the Listing Period (Submitted Property). Provided, 164 however, Buyer 0 Will ❑ Will Not owe the Brokerage Firm's Success Fee under §§ 7.1, 7.2, 7.3.1 and 7.3.2 as indicated, if a 165 commission is earned by another brokerage firm acting pursuant to an exclusive agreement with Buyer entered into during the 166 Holdover Period, and a Purchase or Lease of the Submitted Property is consummated. If no box is checked in this § 7.4, then Buyer 167 does not owe the Brokerage Firm's Success Fee to Brokerage Firm. 168 8. LIMITATION ON THIRD -PARTY COMPENSATION. Neither Broker nor Brokerage Firm, except as set forth in § 7, will 169 accept compensation from any other person or entity in connection with the Property without the written consent of Buyer. 170 Additionally, neither Broker nor Brokerage Firm is permitted to assess and receive mark-ups or other compensation for services 171 performed by any third party or affiliated business entity unless Buyer signs a separate written consent for such services. 172 9. BUYER'S OBLIGATIONS TO BROKER. Buyer agrees to conduct all negotiations for the Property only through Broker, 173 and to refer to Broker all communications received in any form from brokers, prospective sellers, or any other source during the 174 Term of this Buyer Listing Contract. Buyer represents that Buyer ❑ Is ❑X Is Not currently a party to any agreement with any 175 other broker to represent or assist Buyer in the location or Purchase of Property. Buyer further represents that Buyer ❑ Has 176 X❑ Has Not received a list of any "Submitted Property" pursuant to a previous listing agreement to purchase Property with any 177 other broker. 178 10. RIGHT OF PARTIES TO CANCEL. 179 10.1. Right of Buyer to Cancel. In the event Broker defaults under this Buyer Listing Contract, Buyer has the right to cancel 180 this Buyer Listing Contract, including all rights of Brokerage Firm to any compensation if the Buyer Agency box at the top of page 181 1 is checked. Examples of a Broker breach include, but are not limited to (1) abandonment of Buyer, (2) failure to fulfill all material 182 obligations of Broker and (3) failure to fulfill all material Uniform Duties (§ 5) or, if the Buyer Agency box at the top of page 1 is 183 checked, the failure to fulfill all material Additional Duties Of Buyer's Agent (§ 6). Any rights of Buyer that accrued prior to 184 cancellation will survive such cancellation. 185 10.2. Right of Broker to Cancel. Brokerage Firm may cancel this Buyer Listing Contract upon written notice to Buyer if 186 Buyer fails to reasonably cooperate with Broker or Buyer defaults under this Buyer Listing Contract. Any rights of Brokerage Firm 187 that accrued prior to cancellation will survive such cancellation. 188 11. COST OF SERVICES OR PRODUCTS OBTAINED FROM OUTSIDE SOURCES. Broker will not obtain or order 189 products or services from outside sources unless Buyer has agreed to pay for them promptly when due (e.g., surveys, radon tests, 190 soil tests, title reports, engineering studies, property inspections). Neither Broker nor Brokerage Firm is obligated to advance funds 191 for Buyer. Buyer must reimburse Brokerage Firm for payments made by Brokerage Firm for such products or services authorized 192 by Buyer. 193 12. BROKERAGE SERVICES: SHOWING PROPERTIES. 194 12.1. Brokerage Services. The following additional tasks will be performed by Broker: 194-6 Where required, in Broker's opinion, to assist in meeting Buyer's needs, a Broker may perform the following tasks: Daily listing updates, detailed mapping of listed active and sold properties that meet the Buyer's needs, targeted mailings or solicitations to locate unlisted properties on behalf of the buyer, researching and showing for sale by owner properties, research on property pricing and sales history, counseling on offers, negotiation resolution on inspection/title/loan issues, assistance with the closing process that results in a successful closing transaction. 198 12.2. Showing Properties. Buyer acknowledges that Broker has explained the possible methods used by listing brokers and No. BC60-6-19. EXCLUSIVE RIGHT -TO -BUY LISTING CONTRACT 3/14/2022 16:40 Page 4 of 7 199 sellers to show properties, and the limitations (if any) on Buyer and Broker being able to access properties due to such methods. 200 Broker's limitations on accessing properties are as follows: Broker will do their best to access and show For Sale By Owner Properties but may find limitations in doing so; limitations may also occur for broker based on showing instructions and/or seller to tenant's unwillingness or inability to show property at requested time.. 201 Broker, through Brokerage Firm, has access to the following multiple listing services and property information services: 202 Ires, ReColorado. 203 13. DISCLOSURE OF BUYER'S IDENTITY. Broker ❑ Does 0 Does Not have Buyer's permission to disclose Buyer's 204 identity to third parties without prior written consent of Buyer. 205 14. DISCLOSURE OF SETTLEMENT SERVICE COSTS. Buyer acknowledges that costs, quality, and extent of service vary 206 between different settlement service providers (e.g., attorneys, lenders, inspectors and title companies). 207 15. WIRE AND OTHER FRAUDS. Wire and other frauds occur in real estate transactions. Any time Buyer is supplying 208 confidential information such as social security numbers or bank account numbers, Buyer should provide the information in person 209 or in another secure manner. 210 16. REMOVAL OF MARKETING MATERIAL. Buyer acknowledges that marketing material used by the seller and the seller's 211 broker (e.g.: videos, photos, etc.) may be difficult, if not impossible, to remove from syndicators and the Internet and releases Broker 212 from any liability for Broker's inability to remove the information. 213 17. NONDISCRIMINATION. The parties agree not to discriminate unlawfully against any prospective seller because of their 214 inclusion in a "protected class" as defined by federal, state or local law. "Protected classes" include, but are not limited to, race, 215 creed, color, sex, sexual orientation, gender identity, marital status, familial status, physical or mental disability, handicap, religion, 216 national origin, or ancestry of such person. 217 18. RECOMMENDATION OF LEGAL AND TAX COUNSEL. By signing this document, Buyer acknowledges that Broker has 218 advised that this document has important legal consequences and has recommended consultation with legal and tax or other counsel 219 before signing this Buyer Listing Contract. 220 19. MEDIATION. If a dispute arises relating to this Buyer Listing Contract, prior to or after closing, and is not resolved, the parties 221 must first proceed in good faith to submit the matter to mediation. Mediation is a process in which the parties meet with an impartial 222 person who helps to resolve the dispute informally and confidentially. Mediators cannot impose binding decisions. The parties to 223 the dispute must agree, in writing, before any settlement is binding. The parties will jointly appoint an acceptable mediator and will 224 share equally in the cost of such mediation. The mediation, unless otherwise agreed, will terminate in the event the entire dispute is 225 not resolved within 30 calendar days of the date written notice requesting mediation is delivered by one party to the other at the other 226 party's last known address. 227 20. ATTORNEY FEES. In the event of any arbitration or litigation relating to this Buyer Listing Contract, the arbitrator or court 228 must award to the prevailing party all reasonable costs and expenses, including attorney and legal fees. 229 21. ADDITIONAL PROVISIONS. (The following additional provisions have not been approved by the Colorado Real Estate Commission.) 223-7 1. Buyer Identity. Broker does not have the Buyer's permission to reveal the Buyer's identity to third parties without written consent of the Buyer until after MEC of any agreement to purchase the property between Buyer and Seller. 234 22. ATTACHMENTS. The following are a part of this Buyer Listing Contract: 229-31 N/A 238 23. NOTICE, DELIVERY AND CHOICE OF LAW. 239 23.1. Physical Delivery and Notice. Any document or notice to Brokerage Firm or Buyer must be in writing, except as 240 provided in § 23.2 and is effective when physically received by such party, or any individual named in this Buyer Listing Contract 241 to receive documents or notices for such party. . 242 23.2. Electronic Notice. As an alternative to physical delivery, any notice, may be delivered in electronic form to Brokerage 243 Firm or Buyer, or any individual named in this Buyer Listing Contract to receive documents or notices for such party at the electronic 244 address of the recipient by facsimile, email or N/A. 245 23.3 Electronic Delivery. Electronic Delivery of documents and notice may be delivered by: (1) email at the email address No. BC60-6-19. EXCLUSIVE RIGHT -TO -BUY LISTING CONTRACT 3/14/2022 16:40 Page 5 of 7 246 of the recipient, (2) a link or access to a website or server provided the recipient receives the information necessary to access the 247 documents, or (3) facsimile at the facsimile number (Fax No.) of the recipient. 248 23.4. Choice of Law. This Buyer Listing Contract and all disputes arising hereunder are governed by and construed in 249 accordance with the laws of the State of Colorado that would be applicable to Colorado residents who sign a contract in Colorado 250 for real property located in Colorado. 251 24. MODIFICATION OF THIS CONTRACT. No subsequent modification of any of the terms of this Buyer Listing Contract 252 is valid, binding upon the parties, or enforceable unless in writing and signed by the parties. 253 25. COUNTERPARTS. This Buyer Listing Contract may be executed by each of the parties, separately, and when so executed by 254 all the parties, such copies taken together are deemed to be a full and complete contract between the parties. 255 26. ENTIRE AGREEMENT. This agreement constitutes the entire contract between the parties and any prior agreements, whether 256 oral or written, have been merged and integrated into this Buyer Listing Contract. 257 27. COPY OF CONTRACT. Buyer acknowledges receipt of a copy of this Buyer Listing Contract signed by Broker, including 258 all attachments. 259 28. MEGAN'S LAW. If the presence of a registered sex offender is a matter of concern to Buyer, Buyer understands that Buyer 260 must contact local law enforcement officials regarding obtaining such information. 261 Brokerage Firm authorizes Broker to execute this Buyer Listing Contract on behalf of Brokerage Firm. 262 Buyer: Buyer's Signature Scott K. James, Chair Board of County Commissioners Weld County, Col- orado Date N/A Street Address N/A City, State, Zip N/A Phone No. N/A Fax No. N/A Email Address Brokerage Firm: Broker's Signature Jamison R. Walsh Date No. BC60-6-19. EXCLUSIVE RIGHT -TO -BUY LISTING CONTRACT 3/14/2022 16:40 Page 6 of 7 2021 Clubhouse Dr Ste 100 Brokerage Firm Street Address Greeley, CO 80634 Brokerage Firm City, State, Zip (970) 420-1001 Broker Phone No. (970) 330-4766 Broker Fax No. jamison@searsrealestate.com Broker Email Address No. BC60-6-19. EXCLUSIVE RIGHT -TO -BUY LISTING CONTRACT 3/14/2022 16:40 Page 7 of 7 SEARS REAL ESTATE 2021 Clubhouse Drive Suite 100 Greeley, CO 80634 Phone: (970)330-7700 Fax: (970)330-4766 www.searsrealestate.com THIS DISCLOSURE HAS NOT BEEN APPROVED BY THE COLORADO REAL ESTATE COMMISSION. IT WAS PREPARED BY Frascona, Joiner, Goodman and Greenstein, P.C. (303-494-3000) AS LEGAL COUNSEL FOR Sears Real Estate. © 2016 All rights reserved. WIRE FRAUD DISCLOSURE 1. SEARS REAL ESTATE WILL NOT BE THE SOURCE OF YOUR WIRING INSTRUCTIONS. 2. Criminals/hackers are trying to fake you into wiring money to them. 3. Criminals hack your email accounts and accounts of title agents, mortgage brokers, real estate agents, lawyers (and others) and send you emails that look like legitimate emails from the proper party, but instruct you to wire money to the accounts of the criminals. 4. Do not rely on emailed wiring instructions. We strongly recommend only relying on wiring instructions that come from a more secure source such as in -person communications, a phone call that you initiated, or through secure mail or package services. 5. Before you wire any funds to any party, personally call the intended recipient to confirm the accuracy of the ABA routing number, SWIFT code or credit account number. 6. When you call the source of wiring instructions in steps 3 & 4, you should call a number that you know is the correct number. You should not get that phone number from a source that can be easily forged (such as the phone number in an email or a phone number from a website). 7. SEARS REAL ESTATE WILL NEVER PROVIDE YOU WIRING INSTRUCTIONS TO SEND MONEY TO OTHER COMPANIES. Though we do receive earnest money deposits, WE WILL ONLY PROVIDE INSTRUCTIONS FOR YOU TO WIRE FUNDS TO SEARS REAL ESTATE VIA A TELEPHONE CONVERSATION WITH ONE OF OUR ESCROW OFFICERS. If you receive an email providing wiring instruction that purport to come from us, it is a fraudulent email. 8. We strongly recommend that you, your lawyers and others working on a transaction, should refrain from placing any sensitive personal and financial information in an email or an email attachment. 9. When you need to share Social Security numbers, bank accounts, credit card numbers, wiring instructions or similar sensitive information, we strongly recommend using more secure means, such as providing the information in person, over the phone, or through secure mail or package services, whenever possible. Client Clients Signature Date rrtr14 1awvc} Client's Signature Date WIRE FRAUD DISCLOSURE Page 1of1 1 JPAt MMEIN SW EITMTE JPAR Modern Real Estate Co. Jeremy Raskin Ph: 720-272-5656 Fax: 720-457-3062 The printed portions of this form, except differentiated additions, have been approved by the Colorado Real Estate Commission (CL8-5-19) (Mandatory 7-19) 2 3 THIS FORM HAS IMPORTANT LEGAL CONSEQUENCES AND THE PARTIES SHOULD CONSULT 4 LEGAL AND TAX OR OTHER COUNSEL BEFORE SIGNING. 5 6 7 8 9 10 1. PARTIES, PROPERTY. Blake Allen Armstrong and Darla Marie Armstrong , (Seller), 11 and , 12 (Buyer), engage Land Title Guarantee Company , (Closing Company), 13 who agrees to provide closing and settlement services in connection with the Closing of the transaction 14 for the sale and purchase of the Property known as No. 15 TBD County Road 6, Keenesburg, CO 80643 , 16 and more fully described in the Contract to Buy and Sell Real Estate, dated 03/15/2022 , including 17 any counterproposals and amendments (Contract). The Buyer's lender may enter into separate closing 18 instructions with the Closing Company regarding the closing of the Buyer's loan. All terms of the 19 Contract are incorporated herein by reference. In the event of any conflict between this Agreement and 20 the Contract, this Agreement controls, subject to subsequent amendments to the Contract or this 21 Agreement. Date: 3/16/2022 CLOSING INSTRUCTIONS 22 2. TITLE COMMITMENT, EXCEPTIONS AND POLICY. Closing Company ® Agrees 0 Does Not 23 agree that: upon completion of a satisfactory title search and examination, it will furnish a Title 24 Insurance Commitment; and it will issue a Title Insurance Policy provided that all requirements have 25 been fulfilled. Closing Company ® Agrees 0 Does Not agree to furnish copies of Exceptions. 26 3. INFORMATION, CLOSING, RECORDING. Closing Company is authorized to obtain any 27 information necessary for the Closing. Closing Company agrees to, deliver and record all documents 28 required or customarily recorded, and disburse all funds pursuant to the Contract that are necessary 29 to carry out the terms and conditions of the Contract. 30 4. PREPARATION OF DOCUMENTS. The Closing Company will prepare the necessary documents 31 to carry out the terms and conditions of the Contract to include: 32 4.1 Deed. If the deed required in the Contract is a special warranty deed, general warranty 33 deed, bargain and sale deed (excluding a personal representative's or trustee's deed) or a quit claim 34 deed, the deed will be prepared in accordance with the Contract by the Closing Company. However, if 35 the Contract requires a different form of deed (e.g.: personal representative's deed or trustee's deed) or 36 requires that the special warranty deed or general warranty deed list exceptions other than the 37 "statutory exceptions" as defined in §38-30-113(5)(a), C.R.S., then the Buyer or Seller must provide the 38 deed or written instructions for preparation of the deed to the Closing Company for Closing. For any 39 Buyer or Seller provided deed or written instructions for preparation of the deed that requires a list of 40 exceptions other than the "statutory exceptions", the Buyer and Seller will hold the Closing Company CL8-5-19. CLOSING INSTRUCTIONS Initials Page 1 of 5 CTMeContracts.com - ©2022 CTM Software Corp. 41 harmless for any causes of action arising out of the use of such deed. The parties acknowledge that the 42 real estate broker working with either the Buyer or the Seller is not responsible for reviewing or 43 approving any deed not prepared by the real estate broker. 44 4.2 Bill of Sale. If the transaction includes the sale of personal property (i.e. within the Contract 45 or a Personal Property Agreement) from the Seller to the Buyer, Seller and Buyer authorize Closing 46 Company to prepare the bill of sale conveying the personal property from the Seller to the Buyer as 47 their scrivener. The Buyer and Seller understand that the bill of sale is a legal document and it is 48 recommended that it be reviewed and approved by their respective attorneys. 49 4.3 Closing Statement. Closing Company will prepare and deliver accurate, complete and 50 detailed closing statements to Buyer, Seller and the real estate brokers working with Buyer and Seller. 51 Closing Statements will be prepared in accordance with the Contract and written instructions from the 52 Buyer, Seller, lender or real estate brokers so long as such written instructions are not contrary to the 53 Contract. If the written instructions are contrary to the Contract, the Buyer and Seller must execute an 54 Agreement to Amend/Extend Contract. 55 5. CLOSING FEE. Closing Company will receive a fee of $ 360 for providing closing and 56 settlement services (Closing Fee). 57 6. RELEASE, DISBURSEMENT. Closing Company is not authorized to release any signed 58 documents or things of value prior to receipt and disbursement of Good Funds, except as provided in 59 §§10, 11 and 12. 60 7. DISBURSER. Closing Company must disburse all funds, including real estate commissions, 61 except those funds as may be separately disclosed in writing to Buyer and Seller by Closing Company 62 or Buyer's lender on or before Closing. All parties agree that no one other than the disburser can 63 assure that payoff of loans and other disbursements will actually be made. 64 8. SELLER'S NET PROCEEDS. Seller will receive the net proceeds of Closing as indicated: 65 0 Cashier's Check , at Seller's expense ® Funds Electronically Transferred (wire transfer) to an 66 account specified by Seller, at Seller's expense 0 Closing Company's trust account check. 67 9. WIRE AND OTHER FRAUDS. Wire and other frauds occur in real estate transactions. Anytime 68 Buyer or Seller is supplying confidential information, such as social security numbers, bank account 69 numbers, transferring or receiving funds, Buyer and Seller should provide the information in person or 70 in another secure manner. 71 10. FAILURE OF CLOSING. If Closing or disbursement does not occur on or before Closing Date 72 set forth in the Contract, Closing Company, except as provided herein, is authorized and agrees to 73 return all documents, monies and things of value to the depositing party, upon which Closing Company 74 will be relieved from any further duty, responsibility or liability in connection with these Closing 75 Instructions. In addition, any promissory note, deed of trust or other evidence of indebtedness signed by 76 Buyer will be voided by Closing Company, with the originals returned to Buyer and a copy to Buyer's 77 lender. 78 11. RETURN OF EARNEST MONEY. Except as otherwise provided in §12 (Earnest Money Dispute), 79 if the Earnest Money is being held by Closing Company and has not already been returned following so receipt of a Notice to Terminate or other written notice of termination, Closing Company must release 81 the Earnest Money as directed by written mutual instructions from the Buyer and the Seller. Such CL8-5-19. CLOSING INSTRUCTIONS Initials Page 2 of 5 CTMeContracts.com - ©2022 CTM Software Corp. 82 release of Earnest Money must be made within five days of Closing Company's receipt of the written 83 mutual instructions signed by both Buyer and Seller, provided the Earnest Money check has cleared. 84 12. EARNEST MONEY DISPUTE. In the event of any controversy regarding the Earnest Money 85 (notwithstanding any termination of the Contract), provided Closing Company is holding the Earnest 86 Money, Closing Company is not required to take any action. Closing Company, at its option and sole 87 subjective discretion, may: (1) await any proceeding, (2) interplead all parties and deposit Earnest 88 Money into a court of competent jurisdiction and recover court costs and reasonable attorney and legal 89 fees, or (3) provide notice to Buyer and Seller that unless Closing Company receives a copy of a 90 Summons and Complaint or Claim (between Buyer and Seller) containing the case number of the 91 lawsuit (Lawsuit) within one hundred twenty days of Closing Company's notice to the parties, Closing 92 Company is authorized to return the Earnest Money to Buyer. In the event Closing Company does 93 receive a copy of the Lawsuit, and has not interpled the monies at the time of any Order, Closing 94 Company must disburse the Earnest Money pursuant to the Order of the Court. 95 13. SUBSEQUENT AMENDMENTS. Any amendments to, or termination of, these Closing 96 Instructions must be in writing and signed by Buyer, Seller and Closing Company. 97 14. CHANGE IN OWNERSHIP OF WATER WELL. Within sixty days after Closing, Closing Company 98 will submit any required Change in Ownership form or registration of existing well form to the Division of 99 Water Resources in the Department of Natural Resources (Division), with as much information as is 100 available. Closing Company is not liable for delaying Closing to ensure Buyer completes any required 101 form. 102 15. FIRPTA AND COLORADO WITHOLDING. 103 15.1 FIRPTA. Seller agrees to cooperate with Buyer and Closing Company to provide any 104 reasonably requested documents to determine Seller's foreign person status. If withholding is required, 105 Seller authorizes Closing Company to withhold any required amount from Seller's proceeds and remit it 106 to the Internal Revenue Service. 107 15.2 Colorado Withholding. Seller agrees to cooperate with Closing Company to provide any 108 reasonably requested documents to determine Seller's status. If withholding is required under 109 Colorado law, Seller authorizes Closing Company to withhold any required amount from Seller's 110 proceeds and remit it to the Colorado Department of Revenue. 111 16. ADDITIONAL PROVISIONS. (The following additional provisions have not been approved by the 112 Colorado Real Estate Commission.) 113 114 17. COUNTERPARTS. This document may be executed by each party, separately, and when each 115 party has executed a copy, such copies taken together are deemed to be a full and complete contract 116 between the parties. 117 18. BROKER'S COPIES. Closing Company must provide, to each real estate broker in this 118 transaction, copies of all signed documents that such real estate brokers are required to maintain 119 pursuant to the rules of the Colorado Real Estate Commission. Closing Company is authorized by both 120 Buyer and Seller to deliver their respective Closing Statement to one or both real estate brokers 121 involved in the transaction. CL8-5-19. CLOSING INSTRUCTIONS Page 3 of 5 Initials CTMeContracts.com - ©2022 CTM Software Corp. 122 19. NOTICE, DELIVERY AND CHOICE OF LAW. 123 19.1 Physical Delivery and Notice. Any document, or notice to another party must be in 124 writing, except as provided in §19.2 and is effective when physically received by such party. 125 19.2 Electronic Notice. As an alternative to physical delivery, any notice, may be delivered in 126 electronic form to another party at the electronic address of the recipient by facsimile, email or 127 internet/text. 128 19.3 Electronic Delivery. Electronic Delivery of documents and notice may be delivered by: 129 (1) email at the email address of the recipient, (2) a link or access to a website or server, provided the 130 recipient receives the information necessary to access the documents or (3) facsimile at the facsimile 131 number (Fax No.) of the recipient. 132 19.4 Choice of Law. These Closing Instructions and all disputes arising hereunder are 133 governed by and construed in accordance with the laws of the State of Colorado that would be 134 applicable >;,p Colorado residents who sign a contract in Colorado for real property located in Colorado. Buyer: Date: ott K. James, Chair Board of County Commissioners Weld County, Colorado Address: Phone No.: Fax No.: Email Address: Buyer: Date: Address: Phone No.: Fax No.: Email Address: 81aie 1114 tifearetmv Seller: Blake Allen Armstrong Address: Phone No.: Fax No.: Email Address: Date: 3/16/2022 CL8-5-19. CLOSING INSTRUCTIONS Initials Page 4 of 5 CTMeContracts.com - ©2022 CTM Software Corp. 9ah /a,'ri /rsr'op Seller: Darla Marie Armstrong Address: Phone No.: Fax No.: Email Address: Closing Company's Name: Land Title Guarantee Company Nee04 Rant By: Melody Rickert Authorized Signature Title: Address: 195 TELLURIDE ST STE 10 BRIGHTON, CO 80601 Phone No.: 303-224-2280 Fax No.: 303-393-3948 Email Address: mrickert@ltgc.com Date: 3/16/2022 Date: 3/17/2022 CL8-5-19. CLOSING INSTRUCTIONS CTM eContracts - ©2022 MRI Software LLC - All Rights Reserved CL8-5-19. CLOSING INSTRUCTIONS Page 5 of, Initials CTMeContracts.com - ©2022 CTM Software Corp. 1 if' YlOElgl IIEII EVANEVAN JPAR Modern Real Estate Co. Jeremy Raskin Ph: 720-272-5656 Fax: 720-457-3062 The printed portions of this form, except differentiated additions, have been approved by the Colorado Real Estate Commission (CL8-5-19) (Mandatory 7-19) 2 3 THIS FORM HAS IMPORTANT LEGAL CONSEQUENCES AND THE PARTIES SHOULD CONSULT 4 LEGAL AND TAX OR OTHER COUNSEL BEFORE SIGNING. 5 6 7 8 9 10 1. PARTIES, PROPERTY. Blake Allen Armstrong and Darla Marie Armstrong , (Seller), 11 and , 12 (Buyer), engage Land Title Guarantee Company , (Closing Company), 13 who agrees to provide closing and settlement services in connection with the Closing of the transaction 14 for the sale and purchase of the Property known as No. 15 TBD County Road 6, Keenesburg, CO 80643 , 16 and more fully described in the Contract to Buy and Sell Real Estate, dated 03/15/2022 , including 17 any counterproposals and amendments (Contract). The Buyer's lender may enter into separate closing 18 instructions with the Closing Company regarding the closing of the Buyer's loan. All terms of the 19 Contract are incorporated herein by reference. In the event of any conflict between this Agreement and 20 the Contract, this Agreement controls, subject to subsequent amendments to the Contract or this 21 Agreement. Date: 3/16/2022 CLOSING INSTRUCTIONS 22 2. TITLE COMMITMENT, EXCEPTIONS AND POLICY. Closing Company ® Agrees 0 Does Not 23 agree that: upon completion of a satisfactory title search and examination, it will furnish a Title 24 Insurance Commitment; and it will issue a Title Insurance Policy provided that all requirements have 25 been fulfilled. Closing Company IS Agrees 0 Does Not agree to furnish copies of Exceptions. 26 3. INFORMATION, CLOSING, RECORDING. Closing Company is authorized to obtain any 27 information necessary for the Closing. Closing Company agrees to, deliver and record all documents 28 required or customarily recorded, and disburse all funds pursuant to the Contract that are necessary 29 to carry out the terms and conditions of the Contract. 30 4. PREPARATION OF DOCUMENTS. The Closing Company will prepare the necessary documents 31 to carry out the terms and conditions of the Contract to include: 32 4.1 Deed. If the deed required in the Contract is a special warranty deed, general warranty 33 deed, bargain and sale deed (excluding a personal representative's or trustee's deed) or a quit claim 34 deed, the deed will be prepared in accordance with the Contract by the Closing Company. However, if 35 the Contract requires a different form of deed (e.g.: personal representative's deed or trustee's deed) or 36 requires that the special warranty deed or general warranty deed list exceptions other than the 37 "statutory exceptions" as defined in §38-30-113(5)(a), C.R.S., then the Buyer or Seller must provide the 38 deed or written instructions for preparation of the deed to the Closing Company for Closing. For any 39 Buyer or Seller provided deed or written instructions for preparation of the deed that requires a list of 40 exceptions other than the "statutory exceptions", the Buyer and Seller will hold the Closing Company CL8-5-19. CLOSING INSTRUCTIONS Page 1 of 5 Initials CTMeContracts.com - ©2022 CTM Software Corp. 41 harmless for any causes of action arising out of the use of such deed. The parties acknowledge that the 42 real estate broker working with either the Buyer or the Seller is not responsible for reviewing or 43 approving any deed not prepared by the real estate broker. 44 4.2 Bill of Sale. If the transaction includes the sale of personal property (i.e. within the Contract 45 or a Personal Property Agreement) from the Seller to the Buyer, Seller and Buyer authorize Closing 46 Company to prepare the bill of sale conveying the personal property from the Seller to the Buyer as 47 their scrivener. The Buyer and Seller understand that the bill of sale is a legal document and it is 48 recommended that it be reviewed and approved by their respective attorneys. 49 4.3 Closing Statement. Closing Company will prepare and deliver accurate, complete and 50 detailed closing statements to Buyer, Seller and the real estate brokers working with Buyer and Seller. 51 Closing Statements will be prepared in accordance with the Contract and written instructions from the 52 Buyer, Seller, lender or real estate brokers so long as such written instructions are not contrary to the 53 Contract. If the written instructions are contrary to the Contract, the Buyer and Seller must execute an 54 Agreement to Amend/Extend Contract. 55 5. CLOSING FEE. Closing Company will receive a fee of $ 360 for providing closing and 56 settlement services (Closing Fee). 57 6. RELEASE, DISBURSEMENT. Closing Company is not authorized to release any signed 58 documents or things of value prior to receipt and disbursement of Good Funds, except as provided in 59 §§10, 11 and 12. 60 7. DISBURSER. Closing Company must disburse all funds, including real estate commissions, 61 except those funds as may be separately disclosed in writing to Buyer and Seller by Closing Company 62 or Buyer's lender on or before Closing. All parties agree that no one other than the disburser can 63 assure that payoff of loans and other disbursements will actually be made. 64 8. SELLER'S NET PROCEEDS. Seller will receive the net proceeds of Closing as indicated: 65 0 Cashier's Check , at Seller's expense IN Funds Electronically Transferred (wire transfer) to an 66 account specified by Seller, at Seller's expense 0 Closing Company's trust account check. 67 9. WIRE AND OTHER FRAUDS. Wire and other frauds occur in real estate transactions. Anytime 68 Buyer or Seller is supplying confidential information, such as social security numbers, bank account 69 numbers, transferring or receiving funds, Buyer and Seller should provide the information in person or 70 in another secure manner. 71 10. FAILURE OF CLOSING. If Closing or disbursement does not occur on or before Closing Date 72 set forth in the Contract, Closing Company, except as provided herein, is authorized and agrees to 73 return all documents, monies and things of value to the depositing party, upon which Closing Company 74 will be relieved from any further duty, responsibility or liability in connection with these Closing 75 Instructions. In addition, any promissory note, deed of trust or other evidence of indebtedness signed by 76 Buyer will be voided by Closing Company, with the originals returned to Buyer and a copy to Buyer's 77 lender. 78 11. RETURN OF EARNEST MONEY. Except as otherwise provided in §12 (Earnest Money Dispute), 79 if the Earnest Money is being held by Closing Company and has not already been returned following 80 receipt of a Notice to Terminate or other written notice of termination, Closing Company must release 81 the Earnest Money as directed by written mutual instructions from the Buyer and the Seller. Such CL8-5-19. CLOSING INSTRUCTIONS Page 2 of 5 Initials CTMeContracts.com - ©2022 CTM Software Corp. 82 release of Earnest Money must be made within five days of Closing Company's receipt of the written 83 mutual instructions signed by both Buyer and Seller, provided the Earnest Money check has cleared. 84 12. EARNEST MONEY DISPUTE. In the event of any controversy regarding the Earnest Money 85 (notwithstanding any termination of the Contract), provided Closing Company is holding the Earnest 86 Money, Closing Company is not required to take any action. Closing Company, at its option and sole 87 subjective discretion, may: (1) await any proceeding, (2) interplead all parties and deposit Earnest 88 Money into a court of competent jurisdiction and recover court costs and reasonable attorney and legal 89 fees, or (3) provide notice to Buyer and Seller that unless Closing Company receives a copy of a 90 Summons and Complaint or Claim (between Buyer and Seller) containing the case number of the 91 lawsuit (Lawsuit) within one hundred twenty days of Closing Company's notice to the parties, Closing 92 Company is authorized to return the Earnest Money to Buyer. In the event Closing Company does 93 receive a copy of the Lawsuit, and has not interpled the monies at the time of any Order, Closing 94 Company must disburse the Earnest Money pursuant to the Order of the Court. 95 13. SUBSEQUENT AMENDMENTS. Any amendments to, or termination of, these Closing 96 Instructions must be in writing and signed by Buyer, Seller and Closing Company. 97 14. CHANGE IN OWNERSHIP OF WATER WELL. Within sixty days after Closing, Closing Company 98 will submit any required Change in Ownership form or registration of existing well form to the Division of 99 Water Resources in the Department of Natural Resources (Division), with as much information as is 100 available. Closing Company is not liable for delaying Closing to ensure Buyer completes any required 101 form. 102 15. FIRPTA AND COLORADO WITHOLDING. 103 15.1 FIRPTA. Seller agrees to cooperate with Buyer and Closing Company to provide any 104 reasonably requested documents to determine Seller's foreign person status. If withholding is required, 105 Seller authorizes Closing Company to withhold any required amount from Seller's proceeds and remit it 106 to the Internal Revenue Service. 107 15.2 Colorado Withholding. Seller agrees to cooperate with Closing Company to provide any 108 reasonably requested documents to determine Seller's status. If withholding is required under 109 Colorado law, Seller authorizes Closing Company to withhold any required amount from Seller's 110 proceeds and remit it to the Colorado Department of Revenue. 111 16. ADDITIONAL PROVISIONS. (The following additional provisions have not been approved by the 112 Colorado Real Estate Commission.) 113 114 17. COUNTERPARTS. This document may be executed by each party, separately, and when each 115 party has executed a copy, such copies taken together are deemed to be a full and complete contract 116 between the parties. 117 18. BROKER'S COPIES. Closing Company must provide, to each real estate broker in this 118 transaction, copies of all signed documents that such real estate brokers are required to maintain 119 pursuant to the rules of the Colorado Real Estate Commission. Closing Company is authorized by both 120 Buyer and Seller to deliver their respective Closing Statement to one or both real estate brokers 121 involved in the transaction. CL8-5-I9. CLOSING INSTRUCTIONS Initials Page 3 of 5 CTMeContracts.com - ©2022 CTM Software Corp. 122 19. NOTICE, DELIVERY AND CHOICE OF LAW. 123 19.1 Physical Delivery and Notice. Any document, or notice to another party must be in 124 writing, except as provided in §19.2 and is effective when physically received by such party. 125 19.2 Electronic Notice. As an alternative to physical delivery, any notice, may be delivered in 126 electronic form to another party at the electronic address of the recipient by facsimile, email or 127 internet/text. 128 19.3 Electronic Delivery. Electronic Delivery of documents and notice may be delivered by: 129 (1) email at the email address of the recipient, (2) a link or access to a website or server, provided the 130 recipient receives the information necessary to access the documents or (3) facsimile at the facsimile 131 number (Fax No.) of the recipient. 132 19.4 Choice of Law. These Closing Instructions and all disputes arising hereunder are 133 governed by and construed in accordance with the laws of the State of Colorado that would be 134 applicable to Colorado residents who sign a contract in Colorado for real property located in Colorado. Buyer: Address: Phone No.: Fax No.: Email Address: Date: Buyer: Date: Address: Phone No.: Fax No.: Email Address: 8/a16 lj/44 !fi•,tratrgv Seller: Blake Allen Armstrong Address: Phone No.: Fax No.: Email Address: Date: 3/16/2022 CL8-5-19. CLOSING INSTRUCTIONS Page 4 of 5 Initials CTMeContracts.com - ©2022 CTM Software Corp. Oda itfami timinstvirt Seller: Darla Marie Armstrong Address: Phone No.: Fax No.: Email Address: Closing Company's Name: Land Title Guarantee Company adore By: Melody Rickert Authorized Signature Title: Address: 195 TELLURIDE ST STE 10 BRIGHTON, CO 80601 Phone No.: 303-224-2280 Fax No.: 303-393-3948 Email Address: mrickert@ltgc.com Date: 3/16/2022 Date: 3/17/2022 CL8-5-19. CLOSING INSTRUCTIONS CTM eContracts - ©2022 MRI Software LLC - All Rights Reserved CL8-5-19. CLOSING INSTRUCTIONS Page 5 of 5 Initials CTMeContracts.com - ©2022 CTM Software Corp. JPi& MISEIIN 6EA! ME THIS DISCLOSURE HAS NOT BEEN APPROVED BY THE COLORADO REAL ESTATE COMMISSION. IT WAS PREPARED BY Frascona, Joiner, Goodman and Greenstein, P.C. (303-494-3000) AS LEGAL COUNSEL FOR Modern Real Estate © 2016 All rights reserved. Why Modern Real Estate Will Not Be the Source for Your Wire Instructions 1. Criminals/hackers are trying to fake you into wiring money to them. 2. Among other things, they hack into e-mail accounts of various service providers involved in a real estate transaction (e.g., title agents, mortgage brokers, real estate agents and lawyers) and send you e -mails that look like legitimate emails from the proper party, but instruct you to wire money to the accounts of the criminals. 3. Do not rely on e -mailed wiring instructions. 4. We strongly recommend only relying on wiring instructions that come from a more secure source such as in person communication, a phone call that you initiated, or through secure mail or package services. 5. Before you wire any funds to any party, personally call the intended recipient to confirm the accuracy of the ABA routing number, SWIFT code or credit account number. 6. When you call the source of wiring instructions in steps 4 & 5, you should call a number that you know is the correct number. You should not get that phone number from a source that can be easily forged (such as the phone number in an e-mail or a phone number from a website). 7. MY BROKERAGE FIRM WILL NEVER PROVIDE YOU WIRING INSTRUCTIONS. If you receive an e-mail providing wiring instruction that purport to come from us, it is a fraudulent e-mail. 8. Don't forget about generic identify theft. Don't put sensitive personal information in an e-mail or in an e-mail attachment. 8416 ArroK 4iifrstt.ol, Seller: Blake Allen Armstrong Dana Rani , *rsteoK, Seller: Darla Marie Armstrong Seller: Date: 03/16/2022 Date: 03/16/2022 Date: Date: Seller: WFD. WIRE FRAUD DISCLOSURE Page 1 of 2 THIS DISCLOSURE HAS NOT BEEN APPROVED BY THE COLORADO REAL ESTATE COMMISSION. IT WAS PREPARED BY Frascona, Joiner, Goodman and Greenstein, P.C. (303-494-3000) AS LEGAL COUNSEL FOR Modern Real Estate © 2016 All rights reserved. Date 701/7,2 Buyer: Date: Buyer: Date: Buyer: Date: Buyer: WFD. WIRE FRAUD DISCLOSURE Page 2 of 2 �hZ MUM FSI�IMUM II JPAR Modern Real Estate Co. Jeremy Raskin Ph: 720-272-5656 Fax: 720-457-3062 The printed portions of this form, except differentiated additions, have been approved by the Colorado Real Estate Commission. (SPD19L-6-17) (Mandatory 1-18) THIS FORM HAS IMPORTANT LEGAL CONSEQUENCES AND THE PARTIES SHOULD CONSULT LEGAL AND TAX OR OTHER COUNSEL BEFORE SIGNING. SELLER'S PROPERTY DISCLOSURE (0 LAND Supplement to Residential) (0 LAND - With Improvements) (INLAND - Without Improvements) THIS DISCLOSURE SHOULD BE COMPLETED BY SELLER, NOT BY BROKER. Seller states that the information contained in this Disclosure is correct to Seller's CURRENT ACTUAL KNOWLEDGE as of this Date. Any changes must be disclosed by Seller to Buyer promptly after discovery. Seller's failure to disclose a known material defect may result in legal liability. If Seller has knowledge of an adverse material fact affecting the Property or occupants, it must be disclosed whether there is a specific item on this Disclosure or not. Note: The Contract to Buy and Sell Real Estate, not this Disclosure, determines whether an item is included or excluded; if there is an inconsistency between this Disclosure and the Contract, the Contract controls. Date: 3/16/2022 Property Address: TBD County Road 6, Keenesburg, CO 80643 Seller: Blake Allen Armstrong and Darla Marie Armstrong Year Built:NA I. IMPROVEMENTS ICI If this box is checked, there are no structures or improvements on the Property; do not complete Parts A -E. A. STRUCTURAL CONDITIONS If you know of any of the following problems EVER EXISTING check the "Yes" column: Yes Comments 1 Structural problems 2 Moisture and/or water problems 3 Damage due to termites, other insects, birds, animals or rodents 4 Damage due to hail, wind, fire, flood or other casualty 5 Cracks, heaving or settling problems 6 7 B. ROOF If you know of any of the following problems EVER EXISTING check the "Yes" column: Yes Comments 1 Roof leak 2 Damage to roof 3 Skylight problems 4 Gutter or downspout problems 5 Other roof problems B-1. ROOF - Other Information: Do you know of the following on the Property_: Yes Comments 1 Roof under warranty until Transferable 2 Roof work done while under current roof warranty 3 Roof material Age ; 4 5 ■ SPD19L-6-17. SELLERS PROPERTY DISCLOSURE (Land) Page 1 of 6 Initials CTMeContracts.com - ©2022 CTM Software Corp. C. ELECTRICAL & TELECOMMUNICATIONS If you know of any problems NOW EXISTING with the following check the "Yes" column: Yes Comments 1 ■ 2 C-1. ELECTRICAL & TELECOMMUNICATIONS - Other Information: Do you know of the following on the Property: Yes Comments 1 220 volt service 2 Aluminum wiring at the outlets (110) 3 Electrical Service: Amps 4 Garage door control(s) # 5 6 D. MECHANICAL If you know of any problems NOW EXISTING with the following check the "Yes" column: Yes Comments 1 2 E. VENTILATION, AIR, HEAT If you know of any problems NOW EXISTING with the following check the "Yes" column: Yes Comments 1 Heating System 2 3 E-1. VENTILATION, AIR, HEAT - Other Information: Do you know of the following on the Property: Yes Age If Known Comments 1 Heating System: Type Fuel Type Fuel 2 3 F. WATER SUPPLY Do you know of the following on the Property: 1 Type of water supply: • Public M Community • Well Shared Well M Cistem DI' None �p1• If the Property is served by a Well, a copy of the Well Permit els • Is Not attached. Well Permit #: 321608- ❑ Drilling Records II Are • Are Not attached. Shared Well Agreement • Yes • No. G. WATER If you know of any problems NOW EXISTING with the following check the "Yes" column: Yes Comments 1 Water system (including lines and water pressure) 2 Water heater(s) 3 Water filter system 4 Water softener 5 Well 6 Water System Pump 7 8 G-1. WATER - Other Information: Do you know of the following on the Property: Yes Age If Known Comments 1 Water heater: Number of Fuel type Capacity 2 Well Metered 3 Well - Date of last inspection 4 Galvanized pipe 5 Polybutylene pipe 6 SPDI9L-6-17. SELLERS PROPERTY DISCLOSURE (Land) Page 2 of 6 Initials CTMeContracts.com - ©2022 CTM Software Corp. 171 I I I H. SEWER If you know of any problems NOW EXISTING with the following check the "Yes" column: Yes Comments 1 Sewage system (including sewer lines) 2 Lift station (sewage ejector pump) 3 Sump pump(s) # of 4 Gray water storage/use 5 H-1. SEWER - Other Information: Do you know of the following on the Property: 1 Type of sanitary sewer service: • Public • Community ■ Septic System DI' None ■ Other If the Property is served by an on -site septic system, provide buyer with a copy of the permit. Type of septic system: ■ Tank ■ Leach • Lagoon 2 If a septic system, date latest Individual Use Permit issued: 3 If a septic system, date of latest inspection: 4 If a septic system, date of latest pumping: 5 No city sewer, if for residential use Seller will have to put in septic 6 I. DRAINAGE AND FLOODING If you know of any problems NOW EXISTING with the on the Propert check the "Yes" column Yes Comments 1 Drainage, retention ponds 2 Flooding or drainage problems 3 4 J. OTHER DISCLOSURES - INCLUSIONS If you know of any problems EVER EXISTING with the following check the "Yes" column: Yes Comments 1 Included fixtures and equipment 2 Stains on carpet 3 Floors and sub -floors 4 5 II. GENERAL K. USE, ZONING & LEGAL ISSUES If you know of any of the following EVER EXISTING check the "Yes" column: Yes Comments 1 Zoning violation, variance, conditional use, violation of an enforceable PUD or non -conforming use 2 Notice or threat of condemnation proceedings 3 Notice of any adverse conditions from any govemmental or quasi -governmental agency that have not been resolved 4 Notice of zoning action related to the Property 5 Building code, city or county violations 6 Violation of restrictive covenants or owners' association rules or regulations 7 Any building or improvements constructed within the past one year from this Date without approval by the owner's association or the designated approving body 8 Any additions or alterations made 9 Notice of ADA complaint or report 10 Other legal action 11 Current use of the Property 12 13 L. ACCESS & PARKING If you know of any of the following EVER EXISTING Yes Comments SPDI9L-6-17. SELLERS PROPERTY DISCLOSURE (Land) Initials Page 3 of 6 CTMeContracts.com - ©2022 CTM Software Corp. check the "Yes" column: 1 Any access problems 2 Roads, driveways, trails or paths through the Property used by others 3 Public highway or county road bordering the Property 4 Any proposed or existing transportation project that affects or is expected to affect the Property 5 Encroachments, boundary disputes or unrecorded easements 6 Shared or common areas with adioinina properties 7 Requirements for curb, gravel/paving, landscaping 8 9 M. ENVIRONMENTAL CONDITIONS If you know of any of the following EVER EXISTING on any part of the Property check the "Yes" column: Yes Comments 1 Hazardous materials on the Property, such as radioactive, toxic, or biohazardous materials, asbestos, pesticides, herbicides, wastewater sludge, radon, methane, mill tailings, solvents or petroleum products 2 Underground storage tanks 3 Aboveground storage tanks 4 Underground transmission lines 5 Used as, situated on, or adjoining a dump, land fill or municipal solid waste land fill 6 Monitoring wells or test equipment 7 Sliding, settling, upheaval, movement or instability of earth or expansive soils on the Property 8 Mine shafts, tunnels or abandoned wells on the Property 9 Within governmentally designated geological hazard or sensitive area 10 Within governmentally designated flood plain or wetland area 11 Dead, diseased or infested trees or shrubs 12 Environmental assessments, studies or reports done involving the physical condition of the Property 13 Used for any mining, graveling, or other natural resource extraction operations such as oil and gas wells 14 Other environmental problems 15 16 N. OTHER DISCLOSURES - GENERAL If you know of any of the following NOW EXISTING check the "Yes" column: Yes Comments 1 Any part of the Property now leased to others (written or oral) 2 Written reports of any building, site, roofing, soils or engineering investigations or studies of the Property No soil samples conducted when purchased . Adjacent lot owners stated to us they did soil samples and found it to be adequate for their build so we did not think it was a concern. 3 Any property insurance claim ever submitted for the Property (whether paid or not) 4 Structural, architectural and engineering plans and/or specifications for any existing improvements 5 Property was previously used as a methamphetamine laboratory and not remediated to state standards 6 Government special improvements approved, but not yet installed, that may become a lien against the Property 7 Signs: Owned Leased 8 Signs: Government or private restriction problems 9 Pending: (1) litigation or (2) other dispute resolution proceeding regarding the Property 10 Survey Fill survey of parcels attached from their purchase. 11 III. LAND - AGRICULTURAL SPDI9L-6-17. SELLERS PROPERTY DISCLOSURE (Land) Initials Page 4 of 6 CTMeContracts.com - ©2022 CTM Software Corp. O. CROPS, LIVESTOCK & LEASES If you know of any of the following conditions that NOW EXIST check the "Yes" column: Yes Comments 1 Crops being grown on the Property 2 Seller owns all crops 3 Livestock on the Property 4 Any land leased from others: State BLM Federal Private Other 5 6 P. NOXIOUS WEEDS If you know of any of the following conditions NOW EXISTING check the "Yes" column: Yes Comments 1 Have any noxious weeds on the Property been identified? 2 Have there been any weed enforcement actions on the Property? 3 Has a noxious weed management plan for the Property been entered into? 4 Have noxious weed management actions been implemented? 5 Have herbicides been applied? 6 7 The Colorado Noxious Weed Management Act (35-5.5-101-119 C.R.S) enables County and City governments to implement noxious weeds management programs to reclaim infested acres and protect weed -free land. For a directory of county weed supervisors call 303-239-4173 or see: www f'nlorado gov/ag/weP.dq. Q. OTHER DISCLOSURES - LAND - CONSERVATION If you know of any of the following conditions that NOW EXIST check the "Yes" column: Yes Comments 1 Any part of the Property enrolled in any governmental programs such as Conservation Reserve Program (CRP), Wetlands Reserve Program (WRP), etc. 2 Conservation easement 3 4 Seller and Buyer understand that the real estate brokers do not warrant or guarantee the above information on the Property. Property inspection services may be purchased and are advisable. This Disclosure is not intended as a substitute for an inspection of the Property. ADVISORY TO SELLER: Seller acknowledges that Broker will disclose to any prospective buyer all adverse material facts actually known by Broker, including but not limited to adverse material facts pertaining to the physical condition of the Property, any material defects in the Property, and any environmental hazards affecting the Property. These types of disclosures may include such matters as structural defects, soil conditions, violations of health, zoning or building laws, and nonconforming uses and zoning variances. The information contained in this Disclosure has been furnished by Seller, who certifies it was answered truthfully, based on Seller's CURRENT ACTUAL KNOWLEDGE. &'a lfl�ur 1rti'op Seller: Blake Allen Armstrong Oa,4 Aisle 4mwsop Seller: Darla Marie Armstrong Date: 3/16/2022 Date: 3/16/2022 SPD19L-6-17. SELLERS PROPERTY DISCLOSURE (Land) Page 5 of 6 Initials CTMeContracts.com - ©2022 CTM Software Corp. ADVISORY TO BUYER: 1. Even though Seller has answered the above questions to Seller's current actual knowledge, Buyer should thoroughly inspect the Property and obtain expert assistance to accurately and fully evaluate the Property to confirm the status of the following matters: a. the physical condition of the Property; b. the presence of mold or other biological hazards; c. the presence of rodents, insects and vermin including termites; d. the legal use of the Property and legal access to the Property; e. the availability and source of water, sewer, and utilities; f. the environmental and geological condition of the Property; g. the presence of noxious weeds; and h. any other matters that may affect Buyer's use and ownership of the Property that are important to Buyer as Buyer decides whether to purchase the Property. 2. Seller states that the information is correct to "Seller's current actual knowledge" as of the date of this form. The term "current actual knowledge" is intended to limit Seller's disclosure only to facts actually known by the Seller and does not include "constructive knowledge" or "common knowledge" or what Seller "should have known" about the Property. The Seller has no duty to inspect the Property when this Disclosure is filled in and signed. 3. Valuable information may be obtained from various local/state/federal agencies, and other experts may assist Buyer by performing more specific evaluations and inspections of the Property. 4. Boundaries, location and ownership of fences, driveways, hedges, and similar features of the Property may become the subjects of a dispute between a property owner and a neighbor. A survey may be used to determine the likelihood of such problems. 5. Whether any item is included or excluded is determined by the contract between Buyer and Seller and not this Seller's Property Disclosure. 6. Seller does not warrant that the Property is fit for Buyer's intended purposes or use of the Property. Disclosure of the condition of an item is not to be construed as a warranty of its continued operability or as a representation or warranty that such item is fit for Buyer's intended purposes. 7. Buyer receipts for a copy of this Disclosure. Buyer: Date: SPD19L-6-17. SELLER'S PROPERTY DISCLOSURE (LAND) CTM eContracts - ©2022 MRI Software LLC - All Rights Reserved SPD19L-6-17. SELLERS PROPERTY DISCLOSURE (Land) Page 6 of 6 Initials CTMeContracts.com - ©2022 CTM Software Corp. 1 2 3 THIS FORM HAS IMPORTANT LEGAL CONSEQUENCES AND THE PARTIES SHOULD CONSULT 4 LEGAL AND TAX OR OTHER COUNSEL BEFORE SIGNING. 5 JPAt N99EM REAL ESTATE JPAR Modern Real Estate Co. Jeremy Raskin Ph: 720-272-5656 Fax: 720-457-3062 rhe printed portions of this form, except differentiated additions, have been approved by the Colorado Real Estate Commission (SWA35-8-10) (Mandatory 1-11) 6 7 8 9 SOURCE OF WATER ADDENDUM TO CONTRACT TO BUY AND SELL REAL ESTATE Date: 3/16/2022 10 1. ADDENDUM TO CONTRACT TO BUY AND SELL REAL ESTATE. This Source of Water 11 Addendum (Addendum) is made a part of that Contract to Buy and Sell Real Estate between Seller 12 and Buyer dated 3/15/2022 (Contract), for the purchase and sale of the Property known as No. 13 TBD County Road 6, Keenesburg, CO 80643 14 15 2. SOURCE OF POTABLE WATER. Seller discloses the following information for the source of 16 potable water for the Property: 17 18 [Select and complete 1, 2 or 3 as applicable.] 19 20 ® 2.1 The Property's source of water is a Well. Well Permit #: 321608- 21 If a well is the source of water for the Property, a copy of the current Well Permit 22 ® Is 0 Is Not attached. 23 24 0 2.2 The Water Provider for the Property can be contacted at: 25 Name: 26 Address: 27 Web Site: 28 Phone No.: 29 30 ® 2.3 There is neither a Well nor a Water Provider for the Property. The source of water for the Property is [describe source]: Well permit applied for and is attached. Will be 31 conveyed to new owners at close. No well drilling took place, only a permit completed for construction. 32 33 NOTE TO BUYER: SOME WATER PROVIDERS RELY, TO VARYING DEGREES ON 34 NONRENEWABLE GROUND WATER. YOU MAY WISH TO CONTACT YOUR PROVIDER (OR 35 INVESTIGATE THE DESCRIBED SOURCE) TO DETERMINE THE LONG-TERM SUFFICIENCY OF 36 THE PROVIDER'S WATER SUPPLIES. 37 38 $lale NZ"( 1mw9v, Seller: Blake Allen Armstrong 39 Date: 3/16/2022 SWA35-8-10. SOURCE OF WATER ADDENDUM TO CONTRACT TO BUY AND SELL REAL ESTATE P CTMeContracts.com - ©2022 CTM Software Corp. 40 OG/gSQ /gQrgi16 t4Pwd'tsoirt Seller: Darla Marie Armstrong Date: 3/16/2022 41 42 Buyer: Date: 43 44 45 Buyer: Date: 46 SWA35-8-10. SOURCE OF WATER ADDENDUM TO CONTRACT TO BUY AND SELL REAL ESTATE. CTM eContracts - ©2022 MRI Software LLC - All Rights Reserved SWA35-8-10. SOURCE OF WATER ADDENDUM TO CONTRACT TO BUY AND SELL REAL ESTATE Page 2 of 2 CTMeContracts.com - ©2022 CTM Software Corp. Hello