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Home My WebLink About20194789.tiffLAND TITLE GUARANTEE COMPANY Land Title f RAMC* CfMT NY t9,67 - Date: January 20, 2020 Subject: Attached Title Policy WELD COUNTY for 0 WELD COUNTY ROAD 23, CARR, CO 80612 Enclosed please find the Owner's Title Insurance Policy for your purchase of the property listed above. This title policy is the final step in your real estate transaction, and we want to take a moment to remind you of its importance. Please review all information in this document carefully and be sure to safeguard this policy along with your other legal documents. Your owner's policy insures you as long as you own the property and requires no additional premium payments. Please feel free to contact any member of our staff if you have questions or concerns regarding your policy, or you may contact Land Title Policy Team at (303) 850-4158 or finals@ltgc.com As a Colorado -owned and operated title company for over 50 years, with offices throughout the state, we take pride in serving our customers one transaction at a time. We sincerely appreciate your business and welcome the opportunity to assist you with any future real estate needs. Not only will Land Title be able to provide you with the title services quickly and professionally, but you may also be entitled to a discount on title premiums if you sell or refinance the property described in the enclosed policy. Thank you for giving us the opportunity to work with you on this transaction. We look forward to serving you again in the future. Sincerely, Land Title Guarantee Company Co MMVn Gat:onS O1 /27/2.o Cc: g6(rr/st) 0l /21/2o 2oi9 - 47g9 PRoo36 * * OWNER'S POLICY OF TITLE INSURANCE * ANY NOTICE OF CLAIM AND ANY OTHER NOTICE OR STATEMENT IN WRITING REQUIRED TO BE GIVEN TO THE COMPANY UNDER THIS POLICY MUST BE GIVEN TO THE COMPANY AT THE ADDRESS SHOWN IN SECTION 18 OF THE CONDITIONS. COVERED RISKS * * SUBJECT TO THE EXCLUSIONS FROM COVERAGE, THE EXCEPTIONS FROM COVERAGE CONTAINED IN SCHEDULE B AND THE CONDITIONS,OLD REPUBLIC NATIONAL TITLE INSURANCE COMPANY, a Minnesota corporation, (the "Company"), insures, as of Date of Policy and, to the extent stated in Covered Risks 9 and 10, after Date of Policy, against loss or damage, not exceeding the Amount of Insurance, sustained or incurred by the Insured by reason of: 1. Title being vested other than as stated in Schedule A. 2. Any defect in or lien or encumbrance on the title; This covered Risk includes but is not limited to insurance against loss from a. A defect in the Title caused by (i) forgery, fraud, undue influence, duress, incompetency, incapacity, or impersonation; (ii) failure of any person or Entity to have authorized a transfer or conveyance; (iii) a document affecting Title not properly created, executed, witnessed, sealed, acknowledged, notarized, or delivered; (iv) failure to perform those acts necessary to create a document by electronic means authorized by law; (v) a document executed under a falsified, expired, or otherwise invalid power of attorney; (vi) a document not properly filed, recorded, or indexed in the Public Records including failure to perform those acts by electronic means authorized by law; or (vii) a defective judicial or administrative proceeding. b. The lien of real estate taxes or assessments imposed on the Title by a governmental authority due or payable, but unpaid. c Any encroachment, encumbrance, violation, variation, or adverse circumstance affecting the Title that would be disclosed by an accurate and complete land survey of the Land. The term "encroachment" includes encroachments of existing improvements located on the Land onto adjoining land, and encroachments onto the Land of existing improvements located on adjoining land. 3. Unmarketable Title. 4. No right of access to and from the Land. 5. The violation or enforcement of any law, ordinance, permit, or governmental regulation (including those relating to building and zoning) restricting, regulating, prohibiting, or relating to (a)the occupancy, use or enjoyment of the Land; (b)the character, dimensions, or location of any improvement erected on the Land; (c)the subdivision of land; or (d)environmental protection if a notice, describing any part of the Land, is recorded in the Public Records setting forth the violation or intention to enforce, but only to the extent of the violation or enforcement referred to in that notice. 6. An enforcement action based on the exercise of a governmental police power not covered by Covered Risk 5 if a notice of the enforcement action, describing any part of the Land, is recorded in the Public Records, but only to the extent of the enforcement referred to in that notice. 7. The exercise of the rights of eminent domain if a notice of the exercise, describing any part of the Land, is recorded in the Public Records. 8. Any taking by a governmental body that has occurred and is binding on the rights of a purchaser for value without Knowledge. 9. Title being vested other than as stated in Schedule A or being defective (a)as a result of the avoidance in whole or in part, or from a court order providing art alternative remedy, of a transfer of all or any part of the title to or any interest in the Land occurring prior to the transaction vesting Title as shown in Schedule A because that prior transfer constituted a fraudulent or preferential transfer under federal bankruptcy, state insolvency, or similar creditors' rights laws; or (b)because the instrument of transfer vesting Title as shown in Schedule A constitutes a preferential transfer under federal bankruptcy, state insolvency, or similar creditors' rights laws by reason of the failure of its recording in the Public Records (i) to be timely, or (ii) to impart notice of its existence to a purchaser for value or to a judgment or lien creditor. 10. Any defect in or lien or encumbrance on the Title or other matter included in Covered Risks 1 through 9 that has been created or attached or has been filed or recorded in the Public Records subsequent to Date of Policy and prior to the recording of the deed or other instrument of transfer in the Public Records that vests Title as shown in Schedule A. The Company will also pay the costs, attorneys' fees, and expenses incurred in defense of any matter insured against by this Policy, but only to the extent provided in the Conditions. Issued by: Land Title Guarantee Company 3033 East First Avenue Suite 600 Denver, Colorado 80206 (303)321-1880 Senior Vice President ;m ..nowmrE WIMIff x410.AM. spm„ ,Movrotaarsu- m m:n.vv i 4 Sett di% AMERICAN LAND TITLE ASSOCIATION sw Copyright 2006-2020 American Land Title Association - All rights reserved. - The use of this form is restricted to ALTA licensees and ALTA members in good standing as of the date of use. - All other uses are prohibited. - Reprinted under license from the American Land Title Association AMERICAN LAND TITLE ASSOCIATION OWNER'S POLICY Adopted 6-17-06 EXCLUSIONS FROM COVERAGE The following matters are expressly excluded from the coverage of this policy, and the Company will not pay loss or damage, costs, attorneys' fees, or expenses that arise by reason of: (1)(a) Any law, ordinance, permit, or governmental regulation (including those relating to building and zoning) restricting, regulating, prohibiting or relating to (i) the occupancy, use, or enjoyment of the Land; (ii) the character, dimensions, or location of any improvement erected on the Land; (iii) the subdivision of land; or (iv) environmental protection; or the effect of any violation of these laws, ordinances, or governmental regulations. This Exclusion 1(a) does not modify or limit the coverage provided under Covered Risk 5. (b) Any governmental police power. This Exclusion 1(b) does not modify or limit the coverage provided under Covered Risk 6. (2)Rights of eminent domain. This Exclusion does not modify or limit the coverage provided under Covered Risk 7 or 8. (3)Defects, liens, encumbrances, adverse claims, or other matters (a)created, suffered, assumed, or agreed to by the Insured Claimant; (b)not Known to the Company, not recorded in the Public Records at Date of Policy, but Known to the Insured Claimant and not disclosed in writing to the Company by the Insured Claimant prior to the date the Insured Claimant became an Insured under this policy; (c) resulting in no loss or damage to the Insured Claimant; (d)attaching or created subsequent to Date of Policy (however, this does not modify or limit the coverage provided under Covered Risk 9 and 10); or (e)resulting in loss or damage that would not have been sustained if the Insured Claimant had paid value for the Title. (4)Any claim, by reason of the operation of federal bankruptcy, state insolvency, or similar creditors' rights laws, that the transaction vesting the Title as shown in Schedule A, is (a)a fraudulent conveyance or fraudulent transfer; or (b)a preferential transfer for any reason not stated in Covered Risk 9 of this policy. (5)Any lien on the Title for real estate taxes or assessments imposed by governmental authority and created or attaching between Date of Policy and the date of recording of the deed or other instrument of transfer in the Public Records that vests Title as shown in Schedule A. CONDITIONS 1. DEFINITION OF TERMS The following terms when used in this policy mean: (a)"Amount of Insurance": The amount stated in Schedule A, as may be increased or decreased by endorsement to this policy, increased by Section 8(b) or decreased by Sections 10 and 11 of these Conditions. (b)"Date of Policy": The date designated as "Date of Policy" in Schedule A. (c)"Entity": A corporation, partnership, trust, limited liability company, or other similar legal entity. (d)"Insured": The Insured named in Schedule A. (i) The term "Insured" also includes (A)successors to the Title of the Insured by operation of law as distinguished from purchase, including heirs, devisees, survivors, personal representatives, or next of kin; (B)successors to an Insured by dissolution, merger, consolidation, distribution, or reorganization; (Cuccessors to an Insured by its conversion to another kind of Entity; (Da grantee of an Insured under a deed delivered without payment of actual valuable consideration conveying the Title (1)'tf the stock, shares, memberships, or other equity interests of the grantee are wholly -owned by the named Insured. (2)if the grantee wholly owns the named Insured, (3)f the grantee is wholly -owned by an affiliated Entity of the named Insured, provided the affiliated Entity and the named Insured are both wholly - owned by the same person or Entity, or (4)if the grantee is a trustee or beneficiary of a trust created by a written instrument established by the Insured named in Schedule A for estate planning purposes (ii) With regard to (A), (B), (C), and (D) reserving, however, all rights and defensed as to any successor that the Company would have had against any predecessor Insured. (erinsured Claimant": An Insured claiming loss or damage. (f) "Knowledge" or "Known": Actual knowledge, not constructive knowledge or notice that may be imputed to an Insured by reason of the Public Records or any other records that impart constructive notice of matters affecting the Title. (gr'Land": The land described in Schedule A, and affixed improvements that by law constitute real property. The term "Land" does not include any property beyond the lines of the area described in Schedule A, nor any right, title, interest, estate, or easement in abutting streets, roads, avenue, alleys, lanes, ways, or waterways, but this does not modify or limit the extent that a right of access to and from the Land is insured by this policy. (h)"Mortgage": Mortgage, deed of trust, trust deed, or other security instrument, including one evidenced by electronic means authorized by law. (i) "Public Records": Records established under state statutes at Date of Policy for the purpose of imparting constructive notice of matters relating to real property to purchasers for value and without Knowledge. With respect to Covered Risk 5(d), "Public Records" shall also include environmental protection liens filed in the records of the clerk of the United States District Court for the district where the Land is located. (j) "Title": The estate or interest described in Schedule A. "Unmarketable Title": Title affected by an alleged or apparent matter that would permit a prospective purchaser or lessee of the Title or lender on the Title to be released from the obligation to purchase, lease, or lend if there is a contractual condition requiring the delivery of marketable title. 2. CONTINUATION OF INSURANCE The coverage of this policy shall continue in force as of Date of Policy in favor of an Insured, but only so long as the Insured retains an estate or interest in the Land, or holds an obligation secured by a purchase money Mortgage given by a purchaser from the Insured, or only so long as the Insured shall have liability by reason of warranties in any transfer or conveyance of the Title. This policy shall not continue in force in favor of any purchaser from the Insured of either (i) an estate or interest in the Land, or (ii) an obligation secured by a purchase money Mortgage given to the Insured. 3. NOTICE OF CLAIM TO BE GIVEN BY INSURED CLAIMANT The Insured shall notify the Company promptly in writing (i) in case of any litigation as set forth in Section 5(a) of these Conditions, (ii) in case Knowledge shall come to an Insured hereunder of any claim of title or interest that is adverse to the Title, as insured, and that might cause loss or damage for which the Company may be liable by virtue of this policy, or (iii) if the Title, as insured, is rejected as Unmarketable Title. If the Company is prejudiced by the failure of the Insured Claimant to provide prompt notice, the Company's liability to the Insured Claimant under the policy shall be reduced to the extent of the prejudice. 4. PROOF OF LOSS In the event the Company is unable to determine the amount of loss or damage, the Company may, at its option, require as a condition of payment that the Insured Claimant furnish a signed proof of loss. The proof of loss must describe the defect, lien, encumbrance, or other matter insured against by this policy that constitutes the basis of loss or damage and shall state, to the extent possible, the basis of calculating the amount of the loss or damage. 5. DEFENSE AND PROSECUTION OF ACTIONS (a) Upon written request by the Insured, and subject to the options contained in Section 7 of these Conditions, the Company, at its own cost and without unreasonable delay, shall provide for the defense of an Insured in litigation in which any third party asserts a claim covered by this policy adverse to the Insured. This obligation is limited to only those stated causes of action alleging matters insured against by this policy. The Company shall have the right to select counsel of its choice (subject to the right of the Insured to object for reasonable cause) to represent the Insured as to those stated causes of action. It shall not be liable for and will not pay the fees of any other counsel. The Company will not pay any fees, costs, or expenses incurred by the Insured in the defense of those causes of action that allege matters not insured against by this policy. (b) The Company shall have the right, in addition to the options contained in Section 7 of these Conditions, at its own cost, to institute and prosecute any action or proceeding or to do any other act that in its opinion may be necessary or desirable to establish the Title, as insured, or to prevent or reduce loss or damage to the Insured. The Company may take any appropriate action under the terms of this policy, whether or not it shall be liable to the Insured. The exercise of these rights shall not be an admission of liability or waiver of any provision of this policy. If the Company exercises its rights under this subsection, it must do so diligently. (c) Whenever the Company brings an action or asserts a defense as required or permitted by this policy, the Company may pursue the litigation to a final determination by a court of competent jurisdiction, and it expressly reserves the right, in its sole discretion, to appeal any adverse judgment or order. 6. DUTY OF INSURED CLAIMANT TO COOPERATE (a) In all cases where this policy permits or requires the Company to prosecute or provide for the defense of any action or proceeding and any appeals, the Insured shall secure to the Company the right to so prosecute or provide defense in the action or proceeding, including the right to use, at its option, the name of the Insured for this purpose. Whenever requested by the Company, the Insured, at the Company's expense, shall give the Company all reasonable aid (i) in securing evidence, obtaining witnesses, prosecuting or defending the action or proceeding, or effecting settlement, and (ii) in any other lawful act that in the opinion of the Company may be necessary or desirable to establish the Title or any other matter as insured. If the Company is prejudiced by the failure of the Insured to furnish the required cooperation, the Company's obligation to the Insured under the policy shall terminate, including any liability or obligation to defend, prosecute, or continue any litigation, with regard to the matter or matters requiring such cooperation. (b) The Company may reasonably require the Insured Claimant to submit to examination under oath by any authorized representative of the Company and to produce for examination, inspection, and copying, at such reasonable times and places as may be designated by the authorized representative of the Company, all records, in whatever medium maintained, including books, ledgers, checks, memoranda, correspondence, reports, e -mails, disks, tapes, and videos whether bearing a date before or after Date of Policy, that reasonably pertain to the loss or damage. Further, if requested by any authorized representative of the Company, the Insured Claimant shall grant its permission, in writing, for any authorized representative of the Company to examine, inspect, and copy all of these records in the custody or control of a third party that reasonably pertain to the loss or damage. All information designated as confidential by the Insured Claimant provided to the Company pursuant to this Section shall not be disclosed to others unless, in the reasonable judgment of the Company, it is necessary in the administration of the claim. Failure of the Insured Claimant to submit for examination under oath produce any reasonably requested information, or grant permission to secure reasonably necessary information from third parties as required in this subsection, unless prohibited by law or governmental regulation, shall terminate any liability of the Company under this policy as to that claim. 7. OPTIONS TO PAY OR OTHERWISE SETTLE CLAIMS; TERMINATION OF LIABILITY In case of a claim under this policy, the Company shall have the following additional options: (a) To Pay or Tender Payment of the Amount of Insurance. To pay or tender payment of the Amount of Insurance under this policy together with any costs, attorneys' fees, and expenses incurred by the Insured Claimant that were authorized by the Company up to the time of payment or tender of payment and that the Company is obligated to pay. Upon the exercise by the Company of this option, all liability and obligations of the Company to the Insured under this policy, other than to make the payment required in the subsection, shall terminate, including any liability or obfgation to defend, prosecute, or continue any litigation. (b) To Pay or Otherwise Settle With Parties Other Than the Insured or With the Insured Claimant. (i) To pay or otherwise settle with other parties for or in the name of an Insured Claimant any claim insured against under this policy. In addition, the Company will pay any costs, attorneys' fees, and expenses incurred by the Insured Claimant that were authorized by the Company up to the time of payment and that the Company is obligated to pay; or (ii) To pay or otherwise settle with the Insured Claimant the loss or damage provided for under this policy, together with any costs, attorneys' fees, and expensed incurred by the Insured Claimant that were authorized by the Company up to the time of payment and that the Company is obligated to pay. Upon the exercise by the Company of either of the options provided for in subsections (b)(i) or (ii), the Company's obligations to the Insured under this policy for the claimed loss or damage, other than the payments required to be made, shall terminate, including any liability or obligation to defend, prosecute, or continue any litigation. 8. DETERMINATION AND EXTENT OF LIABILITY This policy is a contract of indemnity against actual monetary loss or damage sustained or incurred by the Insured Claimant who has suffered loss or damage by reason of matters insured against by this policy. (a) The extent of liability of the Company for loss or damage under this policy shall not exceed the lesser of (i) the Amount of Insurance; or (ii) the difference between the value of the Title as insured and the value of tie Title subject to the risk insured against by this policy. (b) If the Company pursues its rights under Section 5 of these Conditions and is unsuccessful in establishing the Title, as insured, (i) the Amount of Insurance shall be increased by 10%, and (ii) the Insured Claimant shall have the right to have the loss or damage determined either as of the date the claim was made by the Insured Claimant or as of the date it is settled and paid. (c) In addition to the extent of liability under (a) and (b), the Company will also pay those costs, attorneys' fees, and expenses incurred in accordance with Sections 5 and 7 of these Conditions. 9. LIMITATION OF LIABILITY (a) If the Company establishes the Title, or removes the alleged defect, lien, or encumbrance, or cures the lack of a right of access to or from the Land, or cures the claim of Unmarketable Title, all as insured, in a reasonably diligent manner by any method, induding litigation and the completion of any appeals, it shall have fully performed its obligations with respect to that matter and shall not be liable for any loss or damage caused to the Insured. (b) In the event of any litigation, including litigation by the Company or with the Company's consent, the Company shall have no liability for loss or damage until there has been a final determination by a court of competent jurisdiction, and disposition of all appeals, adverse to the Title, as insured. (c) The Company shall not be liable for loss or damage to the Insured for liability voluntarily assumed by the Insured in settling any claim or suit without the prior written consent of the Company. 10. REDUCTION OF INSURANCE; REDUCTION OR TERMINATION OF LIABILITY All payments under this policy, except payments made for costs, attorneys' fees, and expenses, shall reduce the Amount of Insurance by the amount of the payment. 11. LIABILITY NONCUMULATIVE The Amount of Insurance shall be reduced by any amount the Company pays under any policy insuring a Mortgage to which exception is taken in Schedule B or to which the Insured has agreed, assumed, or taken subject, or which is executed by an Insured after Date of Policy and which is a charge or lien on the Title, and the amount so paid shall be deemed a payment to the Insured under this policy. 12. PAYMENT OF LOSS When liability and the extent of loss or damage have been definitely fixed in accordance with these Conditions, the payment shall be made within 30 days. 13. RIGHTS OF RECOVERY UPON PAYMENT OR SETTLEMENT (a) Whenever the Company shall have settled and paid a claim under this policy, it shall be subrogated and entitled to the rights of the Insured Claimant in the Title and all other rights and remedies in respect to the claim that the Insured Claimant has against any person or property, to the extent of the amount of any loss, costs, attorneys' fees, and expenses paid by the Company. If requested by the Company, the Insured Claimant shall execute documents to evidence the transfer to the Company of these rights and remedies. The Insured Claimant shall permit the Company to sue, compromise, or settle in the name of the Insured Claimant and to use the name of the Insured Claimant in any transaction or litigation involving these rights and remedies. If a payment on account of a claim does not fully cover the loss of the Insured Claimant, the Company shall defer the exercise of its right to recover until after the Insured Claimant shall have recovered its loss. (b) The Company's right of subrogation includes the rights of the Insured to indemnities, guaranties, other policies of insurance, or bonds, notwithstanding any terms or conditions contained in those instruments that address subrogation rights. 14. ARBITRATION Either the Company or the Insured may demand that the claim or controversy shall be submitted to arbitration pursuant to the Title Insurance Arbitration Rules of the American Land Title Association ("Rules"). Except as provided in the Rules, there shall be no joinder or consolidation with claims or controversies of other persons, Arbitrable matters may include, but are not limited to, any controversy or claim between the Company and the Insured arising out of or relating to this policy, any service in connection with its issuance or the breach of a policy provision, or to any other controversy or claim arising out of the transaction giving rise to this policy. All arbitrable matters when the Amount of Insurance is $2,000,000 or less shall be arbitrated at the option of either the Company or the Insured. All arbitrable matters when the Amount of Insurance is in excess of $2,000,000 shall be arbitrated only when agreed to by both the Company and the Insured. Arbitration pursuant to this policy and under the Rules shall be binding upon the parties. Judgment upon the award rendered by the Arbitrator(s) may be entered in any court of competent jurisdiction. 15. LIABILITY LIMITED TO THIS POLICY; POLICY ENTIRE CONTRACT (a) This policy together with all endorsements, if any, attached to it by the Company is the entire policy and contract between the Insured and the Company. In interpreting any provision of this policy, this policy shall be construed as a whole. (b) Any claim or loss or damage that arises out of the status of the Title or by any action asserting such claim shall be restricted to this policy. (c) Any amendment of or endorsement to this policy must be in writing and authenticated by an authorized person, or expressly incorporated by Schedule A of this policy. (d) Each endorsement to this policy issued at any time is made a part of this policy and is subject to all of its terms and provisions. Except as the endorsement expressly states, it does not (i) modify any of the terms and provisions of the policy, (ii) modify any prior endorsement, (iii) extend the Date of Policy, or (iv) increase the Amount of Insurance. 16. SEVERABILITY In the event any provision of this policy, in whole or in part, is held invalid or unenforceable under applicable law, the policy shall be deemed not to include that provision or such part held to be invalid, but all other provisions shall remain in full force and effect. 17. CHOICE OF LAW; FORUM (a) Choice of Law; The Insured acknowledges the Company has underwritten the risks covered by this policy and determined the premium charged therefor in reliance upon the law affecting interests in real property and applicable to the interpretation, rights, remedies, or enforcement of policies of title insurance of the jurisdiction where the Land is located. Therefore, the court or an arbitrator shall apply the law of the jurisdiction where the Land is located to determine the validity of claims against the Title that are adverse to the Insured and to interpret and enforce the terms of this policy. In neither case shall the court or arbitrator apply its conflicts of law principles to determine the applicable law. (b) Choice of Forum; Any litigation or other proceeding brought by the Insured against the Company must be filed only in a state or federal court within the United States of America or its territories having appropriate jurisdiction. 18. NOTICES, WHERE SENT Any notice of claim and any other notice or statement in writing required to be given to the Company under this policy must be given to the Company at: 400 Second Avenue South, Minneapolis, Minnesota 55401 (612)371-1111. ANTI -FRAUD STATEMENT: Pursuant to CRS 10-1-128(6)(a), it is unlawful to knowingly provide false, incomplete, or misleading facts or information to an insurance company for the purpose of defrauding or attempting to defraud the company. Penalties may include imprisonment, fines, denial of insurance and civil damages. Any insurance company or agent of an insurance company who knowingly provides false, incomplete, or misleading facts or information to a policyholder or claimant for the purpose of defrauding or attempting to defraud the policyholder or claimant with regard to a settlement or award payable from insurance proceeds shall be reported to the Colorado division of insurance within the department of regulatory agencies. This anti -fraud statement is affixed to and made a part of this policy. Old Republic National Title Insurance Company Schedule A Order Number: FC25170135 Policy No.: 0X25170135.1840702 Amount of Insurance: $160,000.00 Property Address: 0 WELD COUNTY ROAD 23, CARR, CO 80612 1. Policy Date: December 12, 2019 at 5:00 P.M. 2. Name of Insured: WELD COUNTY 3. The estate or interest in the Land described in this Schedule and which is covered by this policy is: A Fee Simple 4. Title to the estate or interest covered by this policy at the date is vested in: WELD COUNTY 5. The Land referred to in this Policy is described as follows: THE NORTH HALF OF THE THE SOUTHWEST QUARTER OF SECTION 12, TOWNSHIP 10 NORTH, RANGE 67 WEST OF THE 6TH P.M., COUNTY OF WELD, STATE OF COLORADO Copyright 2006-2020 American Land Title Association. All Rights Reserved The use of this Form is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association. AMERICAN LAND TITLE ASSOCIATION Old Republic National Title Insurance Company (Schedule B) Order Number: FC25170135 Policy No.: 0X25170135.1840702 This policy does not insure against loss or damage by reason of the following: 1. Any facts, rights, interests, or claims thereof, not shown by the Public Records but that could be ascertained by an inspection of the Land or that may be asserted by persons in possession of the Land. 2. Easements, liens or encumbrances, or claims thereof, not shown by the Public Records. 3. Any encroachment, encumbrance, violation, variation, or adverse circumstance affecting the Title that would be disclosed by an accurate and complete land survey of the Land and not shown by the Public Records. 4. Any lien, or right to a lien, for services, labor or material heretofore or hereafter furnished, imposed by law and not shown by the Public Records. 5. (a) Unpatented mining claims; (b) reservations or exceptions in patents or in Acts authorizing the issuance thereof; (c) water rights, claims or title to water. 6. 2019 TAXES AND ASSESSMENTS NOT YET DUE OR PAYABLE. 7. RIGHT OF WAY FOR COUNTY ROADS 30 FEET ON EITHER SIDE OF SECTION AND TOWNSHIP LINES, AS ESTABLISHED BY THE BOARD OF COUNTY COMMISSIONERS FOR WELD COUNTY, RECORDED OCTOBER 14, 1889 IN BOOK 86 AT PAGE 273. 8. RIGHT OF WAY FOR DITCHES OR CANALS CONSTRUCTED BY THE AUTHORITY OF THE UNITED STATES AS RESERVED IN UNITED STATES PATENT RECORDED JANUARY 21, 1922, IN BOOK 595 AT PAGE 443. 9. RIGHT OF WAY EASEMENT AS GRANTED TO POUDRE VALLEY RURAL ELECTRIC ASSOCIATION, INC. IN INSTRUMENT RECORDED JANUARY 31, 2000, UNDER RECEPTION NO. 2747089. 10. TERMS, CONDITIONS AND PROVISIONS OF EASEMENT DEED BY COURT ORDER RECORDED JULY 11, 2013 AT RECEPTION NO. 3946861. 11. TERMS, CONDITIONS AND PROVISIONS OF MEMORANDUM RECORDED MARCH 24, 2015 AT RECEPTION NO. 4092763. 12. TERMS, CONDITIONS AND PROVISIONS OF RIGHT OF WAY AND EASEMENT RECORDED MARCH 07, 2016 AT RECEPTION NO. 4185992. 13. REQUEST FOR NOTIFICATION OF SURFACE DEVELOPMENT AS EVIDENCED BY INSTRUMENT RECORDED JULY 12, 2016 UNDER RECEPTION NO. 4218393. 14. TERMS, CONDITIONS AND PROVISIONS OF AFFIDAVIT RECORDED APRIL 21, 2017 AT RECEPTION NO. 4295741. 15. ALL MINERALS, OIL, AND GAS AND/OR MINERAL, OIL, AND GAS RIGHTS AS RESERVED IN DEED RECORDED 16. ANY FACTS, RIGHTS, INTERESTS OR CLAIMS WHICH MAY EXIST OR ARISE BY REASON OF THE FOLLOWING FACTS SHOWN ON LAND SURVEY PLAT CERTIFIED MAY 28, 2019 PREPARED BY COFFEY ENGINEERING & SURVEYING, JOB #2538.01 (A) FENCES DO NOT COINCIDE WITH PROPERTY LINES SAID DOCUMENT STORED AS OUR ESI 37116969, RECORDED MAY 31, 2019 AT RECEPTION NO. 4493572 Old Republic National Title Insurance Company (Schedule B) Order Number: FC25170135 Policy No.: 0X25170135.1840702 17. ANY FACTS, RIGHTS, INTERESTS OR CLAIMS WHICH MAY EXIST OR ARISE BY REASON OF THE FOLLOWING FACTS SHOWN ON LAND SURVEY PLAT CERTIFIED MAY 28, 2019 PREPARED BY COFFEY ENGINEERING & SURVEYING, JOB #2538.1 (A) FENCES DO NOT COINCIDE WITH PROPERTY LINES SAID DOCUMENT STORED AS OUR ESI 37302324 18. EXISTING LEASES OR TENANCIES, IF ANY. NOTE: THE FOLLOWING NOTICES PURSUANT TO CRS 9-1.5-103 CONCERNING UNDERGROUND FACILITIES HAVE BEEN FILED WITH THE CLERK AND RECORDER. THESE STATEMENTS ARE GENERAL AND DO NOT NECESSARILY GIVE NOTICE OF UNDERGROUND FACILITIES WITHIN THE SUBJECT PROPERTY: (A) MOUNTAIN BELL TELEPHONE COMPANY, RECORDED OCTOBER 1, 1981 AT RECEPTION NO. 1870705. (B) WESTERN SLOPE GAS COMPANY, RECORDED MARCH 9, 1983 AT RECEPTION NO. 1919757. (C) ASSOCIATED NATURAL GAS, INC., RECORDED JULY 20, 1984 AT RECEPTION NO. 1974810 AND RECORDED OCTOBER 1, 1984 AT RECEPTION NO. 1983584 AND RECORDED MARCH 3, 1988 AT RECEPTION NO. 2132709 AND RECORDED APRIL 10, 1989 AT RECEPTION NO. 2175917. (D) PANHANDLE EASTERN PIPE LINE COMPANY, RECORDED OCTOBER 1, 1981 AT RECEPTION NO. 1870756 AND RECORDED JUNE 26, 1986 AT RECEPTION NO. 2058722. (E) COLORADO INTERSTATE GAS COMPANY, RECORDED AUGUST 31, 1984 AT RECEPTION NO. 1979784. (F) UNION RURAL ELECTRIC ASSOCIATION, INC., RECORDED OCTOBER 5, 1981 AT RECEPTION NO. 1871004. (G) WESTERN GAS SUPPLY COMPANY, RECORDED APRIL 2, 1985 AT RECEPTION NO. 2004300. (H) PUBLIC SERVICE COMPANY OF COLORADO, RECORDED NOVEMBER 9, 1981 AT RECEPTION NO. 1874084. (I) ST. VRAIN SANITATION DISTRICT, RECORDED DECEMBER 14, 1988 AT RECEPTION NO. 2164975. (J) LEFT HAND WATER DISTRICT, RECORDED AUGUST 28, 1990 AT RECEPTION NO. 2224977. (K) UNITED POWER, INC., RECORDED JANUARY 24, 1991 AT RECEPTION NO. 2239296. (L) WIGGINS TELEPHONE ASSOCIATION RECORDED OCTOBER 14, 1992 AT RECEPTION NO. 2306829. 19. RESERVATIONS AS CONTAINED IN SPECIAL WARRANTY DEED RECORDED DECEMBER 12, 2019 UNDER RECEPTION NO. 4549595. ITEM NOS. 1 THROUGH 4 OF THE STANDARD EXCEPTIONS ARE HEREBY DELETED. OppLAND TITLE GUARANTEE COMPANY 4617 W 20TH ST #B Lan ei, GREEEY, CO 80634 d UC Phone: (970) 473-3032 Sri— Fax: (800) 318-3051 "PURCHASERS" STATEMENT OF SETTLEMENT PROPERTY ADDRESS: 0 WELD COUNTY ROAD 23, CARR, CO 80612 SELLER(S): MIKE G. MALONE BUYER(S): WELD COUNTY SETTLEMENT DATE: December 12, 2019 DATE OF PRORATION: December 12, 2019 DESCRIPTION DEBIT CREDIT Sales Price & Earnest Money Sales Price 160,000.00 Earnest Money from LTGC - Earnest Money 2,400.00 Title Fees - Land Title Guarantee Company Total for Endorsements (DELETION) Tax Certificate Closing Fees - Land Title Guarantee Company Closing Fee to Land Title Guarantee Company Recording Fees - Land Title Guarantee Company Record Warranty Deed to Land Title Guarantee Company Documentary Fee to Land Title Guarantee Company SubTotals Due from Buyer/Borrower Totals PURCHASER(S) WELD C NTY 75.00 26.00 170.00 48.00 16.00 160,335.00 2,400.00 157,935.00 160,335.00 160, 335.00 The above figures do not include sales or use taxes on property APPROVED AND ACCEPTED JARBARA KIRKMEYE AS CHAIR F BOARD OF COMMISSIONERS Form 624 dosing/statements/buyer statement.html 06111enui\l-Cadt;%. t-IS-goa.o REAL ESTATE BROKER: SEARS REAL ESTATE ( Th N WALSH LAND TITLE CLOSING AGENT: Nancy Lohr 25170135 (100007707) Cc'. B6CrT/SG) 1/9 /2o 11I 1111111111111111111111111 aoiq-�t7$�i PIZ 0036 Land Title Guarantee Company Order No. 25170135 III I I IIIIIIIIIIIIIIIIIIIIIIIIIIIII III FOREIGN INVESTMENT IN REAL PROPERTY TAX ACT OF 1980 (26 U.S.C. 1445)("FIRPTA") CERTIFICATION BY TRANSFEROR (INDIVIDUAL) (Pursuant to Regulation C.F.R.1.1445-2(b)(2)(i)) To: WELD COUNTY, Transferee (Buyer) Section 1445 of the Internal Revenue Code provides that a transferee (buyer) of a U.S. real property interest must withhold tax if the transferor (seller) is a foreign person. To inform the transferee (buyer) that withholding of tax is not required upon the disposition of a U.S. real property interest, I MIKE G. MALONE, (transferor), hereby certify the following: 1. I am not a foreign person (as defined in the Internal Revenue Code and Income Tax Code and Income Tax Regulations) for purposes of U. S. Income taxation; 2. My U. S. taxpayer identifying number (Social Security number) is 3. My home address is 4. I understand that this certification will be disclosed to the Internal Revenue Service by the transferee and that any false statement I have made here could be punished by fine, imprisonment, or both. 5. Under pennkies of perjury I declare that I have examined this certification and to the best of my knowledge and belief it is true, correct and co MIKE G. MALONE State of Colorado )ss. County of WELD Date: December 12, 2019 Sworn to before me on this day of December 12th, 2019 by MIKE G. MALONE Witness my hand and official seal My Commission expires: 7 •), - r Note: ,. AN CY A LOHR NOTARY ARY PUBLIC GBLIC STATE OF COLORADO NOTARY ID 19924008574 My Commission Expires July 18, 2020 l(o Public 1. If you have any questions or concerns arising from your obligation as transferor in regard to this tax, it is suggested that you immediately contact your local Internal Revenue Service office, attorney or accountant if you do not fully understand these regulations. More information, including the regulations promulgated under FIRPTA, is available at the website for the Internal Revenue Service, ht(ps://www.irs.aov/ 2. The transferee is required to retain this certification until the end of the fifth taxable year following the taxable year in which the transfer takes place. The transferee must make this certification available to the Internal Revenue Service when requested in accordance with the requirements of 26 U.S.C 6001 and regulations thereunder. Form 24 closing/tax_forms/firpta_individual.html 25170135 (24738992) Agreement for Taxes It is hereby understood and agreed between the Buyer(s) and Seller(s) of the property known as: 0 WELD COUNTY ROAD 23, CARR, CO 80612 pX Other: NO TAX PRORATION DUE TO BUYER EXEMPT FROM TAXES. SELLER TO PAY PRORATED 2019 TAXES DUE PROVIDED BY WELD COUNTY ASSESSOR'S OFFICE. This adjustment shall be: ❑X A final settlement. 0 Re -adjusted between the Buyer(s) and Seller(s) as soon as the taxes have been billed by the County Treasurer. If a re -adjustment is necessary, Land Title Guarantee Company will not make or be responsible for this re -adjustment. It is further understood and agreed between the Buyer(s) and Seller(s) that: 0 No governmental body taxing authority has certified an assessment lien to the County Treasurer for special improvements installed prior to the date of the Buyer's execution of the Agreement for Purchase. Special Taxing District Assessments being paid in annual installments are to be assumed by the Buyer(s), with current annual assessments in the amount of $0.00, with the total payoff amount of this assessment being $0.00. This assessment will be fully paid on Note: Land Title Guarantee Company and/or its underwriter assumes no responsibility or any liability for the adjustment of special taxes on assessments unless they are shown on the County Treasurer's Certificate of Taxes Due. Any adjustment shall be made between the Buyer's and Seller(s), if necessary, and Land Title Guarantee Company, or its underwriter will not make or be responsible for the re -adjustment or liability in connection therewith. This Agreement ad arid executed this day of December 12th, 2019 Seller( MIKE G. MALONE itfri/L Form 286 closing/tax forms/tax_agreement.html Buyer(s) WELD COUNTY By: / A.A SARA KIRKMEYER COMMISSIONERS 25170135 (100007707) CHAIR OF BOARD OF III I Iillll II II l 1111 Iill l I III Utility Agreement No Adjustment for Water and Sewer At the closing of 0 WELD COUNTY ROAD 23, CARR, CO 80612 (Property Address) on December 12th, 2019 (Date), by Land Title Guarantee Company, both the Buyer(s) and Seller(s) fully understand that Land Title Guarantee Company DOES NOT notify the telephone company, the electric and/or gas company(s), the cable company or the Seller's present insurance company to cancel or transfer to the new owners, any of the above. IT IS THE SELLER(S) RESPONSIBILITY to call the gas and/or electric company for a final reading and to give them your forwarding address for the final bill. It is also the Seller(s) responsibility to notify your telephone company, cable company, trash company and your present insurance agent. IT IS THE BUYER(S) RESPONSIBILITY to call the gas and/or electric company, giving them the personal information they may require for their records, the telephone company, the trash company and the cable company to put service into your name(s) with the correct mailing address, if different than the property just purchased. The final reading of the metered water/sewer account or the proration of the standard bill is to be handled on 12/12/2019. LAND TITLE GUARANTEE COMPANY is escrowing Buyer(s). from the Seller(s) and/or $ from the The Parties hereto further agree to the following: It is hereby agreed by the undersigned Seller(s) and Buyer(s) that Land Title Guarantee Company has not asked for a final reading of the metered water and sewer account or calculated any escrows or prorations of any standard bills, included water, sewer and storm drainage. Furthermore, Land Title Guarantee Company makes no representations or guarantee as to the status of said account(s). The Seller(s) and Buyer(s) herein agree to hold Land Title Guarantee Company or its underwriter harmless for any penalties for non-payment. FURTHER, Seller acknowledges that there [ ] is [ X ] is not currently a formal or informal homeowners/landowners association and/or sub -association which may require periodic assessments and other fees as a result of this transaction. If there is an association and/or sub - association heretofore not known to the settlement agent and/or seller's aaent. Land Title Guarantee Company shall escrow funds from seller pending receipt of a written status letter from the association. Land Title Guarantee Company is hereby instructed to pay the amount stated on said status letter. In the event the homeowners'/landowners' association dues, assessments or fees exceed the escrowed amount, the additional charges are the responsibility of the Seller(s). Land Title Guarantee Company or its underwriter shall not make or be responsible for the additional charges. If there is a formal or informal homeowners'/landowners' association involved and if that association has requested copies of the Buyer and Seller Settlement Statements as a requirement to transfer their records to the new owners, the undersigned hereby authorize Land Title Guarantee Company to deliver a copy of said statements to that association. Land Title Guarantee Company is hereby released of any liability in connection with same. This Agreemept s made and executed this day of December 12th, 2019 Seller, MIKE Form 297 closing/agreements/utility_agreement.html Buyer: �/ WELD COUNTY ..<7"// / ` ARBARA KIRKMEYER At CHAIR OF BARD OF / COMMISSIONERS / 25170135 (100007707) III 1111111111111111111111 III DISCLOSURES The undersigned hereby acknowledge that they understand and agree to the following provisions: Laws Relating to Unclaimed Funds All parties are hereby advised that checks issued by Land Title Guarantee Company ("Land Title") and not cashed by the payee are subject to laws of escheat and/or unclaimed property. Should Land Title transfer such funds to a state office, pursuant to such laws, Land Title shall be released from all further responsibility under this agreement and shall not be liable to any Party. FDIC Limit Notice The insurance coverage provided by the Federal Deposit Insurance Corporation protects a depositor up to cumulative maximum deposit of $250,000.00 for each insured financial institution. Ownership is determined by the deposit records of the financial institution and/or the records of the named custodian of any escrow accounts. Land Title and its underwriter assume no responsibility for nor will the undersigned hold same liable for any loss which arises from the fact that the amount of the above deposit may cause the aggregate amount of any individual depositor's accounts to exceed $250,000.00. Funds Held by Land Title Land Title shall deposit all funds received pursuant to any closing and settlement services separate and apart from the assets of the company, in an account designated as an escrow account or custodial account and so recognized by the depository institution in the name of Land Title as Escrow Agent (Escrow Account). Similar deposits from other customers conducting other real estate transactions are included in this Escrow Account. The majority of these funds are received at closing and on completion of the transaction, are disbursed for the benefit of the seller, buyer or in the case of a refinance, for the benefit of the owner. Land Title will pay any and all costs associated with the use of the Escrow Account, but in order to help keep settlement costs and fees down, Land Title may arrange for the bank to provide it with a number of services at a reduced rate, or at no charge, or may earn interest on the Escrow Account balance. Interest earned, if any, shall be paid to Land Title. In no event will any such arrangement restrict or limit in any way the disbursement of the funds you deposit in accordance with the instructions given by you and the Statement of Settlement relating to your transaction. The party for whose benefit the funds are disbursed (most often the seller or owner, in the case of a refinance) may elect to have a portion of the Interest earned on the fiduciary funds in the Escrow Account paid to that party. If the seller or owner makes this election, please (i) inform Land Title immediately, (II) check the box provided below on this form and (lii) complete an IRS Form W-9 (which will be provided by Land Title). It is important to know that the fiduciary funds cannot be placed in a separate interest bearing account for that party's benefit until Land Title is in receipt of all required forms. A non-refundable administrative fee of $50.00 will be collected by Land Title as compensation for processing the documentation, set up and transfer of funds to the separate account, maintaining of audit and reconcilliation records and coordinating the tax documentation. Authorized and accepted this day of December 12th, 2019. G. MALONE Buyer(s): WEL COUNTY ! BY ARBARA KIRKME�II'ER AS CHAIR ,5F BOARD OF COMMISSIONERS If the election is made to have a portion of the interest earned on the fiduciary funds in the Escrow Account paid to you, please check the appropriate box below. Seller hereby elects to have Seller's fiduciary funds invested and agrees to the administrative fee of $50.00. Buyer hereby elects to have Buyer's fiduciary funds invested and agrees to the administrative fee of $50.00. Owner (Refinance) hereby elects to have Owner's fiduciary funds invested and agrees to the administrative fee of $50.00. Form 9 closing/disclosures/fiduciary_funds.htmi 25170135 (100007707) III I IllIll II II I IIIII III 11 III Approval of Deed, Bill of Sale and Tenancy The undersigned WELD COUNTY Buyer(s) hereby acknowledge that they intend to take title to the following described property: THE NORTH HALF OF THE THE SOUTHWEST QUARTER OF SECTION 12, TOWNSHIP 10 NORTH, RANGE 67 WEST OF THE 6TH P.M., COUNTY OF WELD, STATE OF COLORADO As Ei Joint Tenants 11 Tenants in Common Q Other ENTITY Whose mailing address is:1105 H STREET 127 22ND STREET, Greeley, CO 80631 They have reviewed the SPECIAL WARRANTY DEED and Bill of Sale dated December 12th, 2019 from MIKE G. MALONE to WELD COUNTY and by their signature hereto approve the deed and confirm that it correctly reflects the choice of tenancy, if applicable. Date: December 12, 2019 WELD COUNTY By: /.),z2),1_ .if SARBARA `KIRKMEY R AS CHAIR F BOARD OF COMMISSIONERS Form 17 closing/affidavit/tenancy.html 25170135 (100007707) III I I'I"l I' III "II 11111 I III Acre Source Realty alVia Pn: 77 The printed portions of this form, except differentiated additions, have been approved by the Colorado Real Estate . Commission (CL8-9-12) (Mandatory 1-131 THIS FORM HAS IMPORTANT LEGAL CONSEQUENCES AND THE PARTIES SHOULD CONSULT LEGAL AND TAX OR OTHER COUNSEL BEFORE SIGNING. CLOSING INSTRUCTIONS Date: 5/31/2019 1. PARTIES, PROPERTY. Mike Malone , Seller, and , Buyer, engage Land Tide Guarantee Company , Closing Company. who agrees to provide closing and settlement services in connection with the Closing of the transaction for the sale and purchase of the Property known as No.0 County Road 23, Carr, CO 50612, and more fully described in the Contract to Buy and Sell Real Estate, dated ,including any counterproposals and amendments (Contract). All terms of the Contract are incorporated herein by reference. In the event of any conflict between this Agreement and the Contract, this Agreement shall control, subject to subsequent amendments to the Contract or this Agreement. 2. TITLE COMMITMENT, EXCEPTIONS AND POLICY. Closing Company ® Agrees 0 Does Not agree that: upon completion of a satisfactory title search and examination, it will furnish a Title Insurance Commitment: and it will issue a Title Insurance Policy provided that all requirements have been fulfilled. Closing Company ®Agrees 0 Does Not agree to furnish copies of Exceptions. 3. INFORMATION, PREPARATION, CLOSING, RECORDING. Closing Company is authorized to obtain any information necessary for the Closing. Closing Company agrees to prepare (excluding legal A documents), deliver and record all documents required or customarily recorded, and disburse all funds 2; pursuant to the Contract that are necessary to carry out the terms and conditions of the Contract. _.a 4. CLOSING FEE. Closing Company will receive a fee of $ 400.00 for providing closing and settlement services (Closing Fee). 20 5. RELEASE, DISBURSEMENT. Closing Company is not authorized to release any signed documents or things of value prior to receipt and disbursement of Good Funds, except as provided in § § 9.10 and 11. 6. DISBURSER. Closing Company shall disburse all funds, including real estate commissions, except those funds as may be separately disclosed in writing to Buyer and Seller by Closing Company or Buyer's lender on or before Closing. All parties agree that no one other than the disburser can assure that payoff of loans and other disbursements will actually be made. 38 7. SELLER'S NET PROCEEDS. Seller will receive the net proceeds of Closing as indicated: 0 Cashier's Check , at Seller's expense In Funds Electronically Transferred (wire transfer) 0 to an account specified by Seller, at Seller's expense 0 Closing Company's trust account check. 8. CLOSING STATEMENT. Closing Company will prepare and deliver an accurate, complete and detailed closing statement to Buyer and Seller at time of Closing. 9. FAILURE OF CLOSING. If Closing or disbursement does not occur on or before Closing Date set forth in the Contract, Closing Company, except as provided herein, is authorized and agrees to C:LS-9-12. CLOSING INSTRUCTIONS Pace I of4 Seller(s) Initials: Buyer(s) Initials: CrMecortracts.com - ?ql9 CPA Software Corp. return all documents, monies, and things of value to the depositing party, upon which Closing Company will be relieved from any further duty, responsibility or liability in connection with these Closing Instructions. In addition, any promissory note, deed of trust or other evidence of indebtedness signed by Buyer will be voided by Closing Company, with the originals returned to Buyer and a copy to Buyer's lender. 52 10. RETURN OF EARNEST MONEY. Except as otherwise provided in § 11, Earnest Money Dispute, if 54 the Earnest Money has not already been returned following receipt of a Notice to Terminate or other 55 written notice of termination, Earnest Money Holder shall release the Earnest Money as directed by 56 the written mutual instructions. Such release of Earnest Money shall be made within five days of 57 Earnest Money Holder's receipt of the written mutual instructions signed by both Buyer and Seller, provided the Earnest Money check has cleared. 11. EARNEST MONEY DISPUTE. In the event of any controversy regarding the Earnest Money (notwithstanding any termination of the Contract), Earnest Money Holder shall not be required to take any action. Earnest Money Holder, at its option and sole subjective discretion, has several options (1) await any proceeding, (2) interplead all parties and deposit Earnest Money into a court of competent jurisdiction and shall recover court costs and reasonable attorney and legal fees, or (3) provide notice to Buyer and Seller that unless Earnest Money Holder receives a copy of the Summons and Complaint or Claim (between Buyer and Seller) containing the case number of the lawsuit (Lawsuit) .6 within one hundred twenty days of Earnest Money Holder's notice to the parties, Earnest Money Holder shall be authorized to return the Earnest Money to Buyer. In the event Earnest Money Holder s does receive a copy of the Lawsuit, and has not interpled the monies at the time of any Order, Earnest 69 Money Holder shall disburse the Earnest Money pursuant to the Order of the Court. 12. SUBSEQUENT AMENDMENTS. Any amendments to, or termination of, these Closing Instructions :2 must be in writing and signed by Buyer, Seller and Closing Company. 13. CHANGE IN OWNERSHIP OF WATER WELL. Within sixty days after Closing, Closing Company shall submit any required Change in Ownership form or registration of existing well form to the Division of Water Resources in the Department of Natural Resources (Division), with as much information as is available. and the Division shall be responsible for obtaining the necessary well registration information directly from Buyer. Closing Company shall not be liable for delaying Closing to ensure Buyer completes any required form. :31 14. WITHHOLDING. The Internal Revenue Service and the Colorado Department of Revenue may require Closing Company to withhold a substantial portion of the proceeds of this sale when Seller is either of the following (a) is a foreign person or (b) will not be a Colorado resident after Closing. Seller should inquire of Seller's tax advisor to determine if withholding applies or if an exemption exists. 5 15. ADDITIONAL PROVISIONS. (The following additional provisions have not been approved by the as Colorado Real Estate Commission.) n/a 16. COUNTERPARTS. This document may be executed by each party, separately, and when [. each party has executed a copy, such copies taken together shall be deemed to be a full and complete contract between the parties. 17_ BROKER'S COPIES. Closing Company shall provide, to each broker in this transaction, copies of all signed documents that such brokers are required to maintain pursuant to the rules of the 995 Colorado Real Estate Commission. CLS-9-12. CLOSING INSTRUCTIONS Paga 2 of 4 yt! Seller(s) Initials: Buyer(s) Initials: CrMeContracts.com - C 201 Q (TM Software Corp. w- 18 . NOTICE, DELIVERY, CHOICE OF LAW. 18.1 Physical Delivery. Except as provided in § 18.2, all notices must be in writing. Any notice or document to Buyer is effective when physically received by Buyer, any individual 99 buyer, any representative of Buyer, or Brokerage Firm of Broker working with Buyer. Any notice or document to Seller shall be effective when physically received by Seller, any individual seller, any ▪ representative of Seller, or Brokerage Firm of Broker working with Seller. Any notice or document to 1_: Closing Company shall be effective when physically received by Closing Company, any individual of Closing Company, or any representative of Closing Company. 18.2 Electronic Delivery. As an alternative to physical delivery, any signed document and written notice ma be delivered in electronic form by the following indicated methods only: ® Facsimile 612 E-mail ® Internet O No Electronic Delivery.. Documents with original c original signatures shall be provided upon request of any party. 18.3. Choice of Law. This contract and all disputes arising hereunder shall be governed by and construed in accordance with the laws of the State of Colorado that would be applicable to tr., Colorado residents who sign a contract in this state for property located in Colorado. uyer: Address: Address: Phone No.: Fax No.: :1E Electronic Address: .120 Buyer. 121 Address: 12:2 Address: 123 Phone No.: Fax No.: .=s Electronic Address: Ale Rai/a/(? Seller. Mike Malone Address: 12`= Address: ._c: Phone No.: Fax No.: - Electronic Address: Date: // 6;7. Date: Date: b73/201 g CIA9-12. CLOSING INSTRUCTIONS Page 3 of 4 Seller(s) Initials: Buyer(s) Initials: CITieContracts.com - :'_0I, CTM Software Corp. 1:5 Authorized Signature 1.14 Seller: Date: 35 :c Address: Address: a Phone No.: Fax No.: Electronic Address: 3 Closing Company: Land T o:fe a;arantca Company By: Nancy Lcpf/r 146 Authorized Signature Title: 147 Address: 4:;17"i,. ?(?_n 5,re_: "6 14;"::: City:-2,,rEele , CO 230634 Phone No.: 970-339-9522 Fax No.: 00-31S 305 Electronic Address: nlC,,r, it Date: (TO BE COMPLETED ONLY BY BROKER AND CLOSING COMPANY) 155 Olivia Cain (Broker) ® Working with Seller ❑ Working with Buyer 15,5 engages Closing Company as Broker's scrivener to complete, for a fee not to exceed $ 150.00 1 at the sole expense of Broker, the following legal documents: ® Deed ❑ Bill of Sale El Colorado Real Estate Commission approved Promissory Note O Colorado Real Estate Commission approved Deed of Trust. Closing Company agrees to prepare, on behalf of Broker, the indicated legal documents pursuant to the terms and conditions of the Contract. The documents stated above shall be subject to Broker's review and approval and Broker acknowledges that Broker is responsible for the accuracy of the above documents. Brokerage Broker Firm's Name: ;Acre S:_iurc . Raa'ty Broker O6 e cam, Olivia Cain _ Closing Company: Lan Date: )- ill 7 9 Title: Date: 5/31/2019 CLS-9-12. CLOSING INSTRUCTIONS CLS-9-12. CLOSING INSTRUCTIONS Page 4 of 4 14(11 Seller(s) Initials: Buyer(s) Initials: CTM.Contracts.com -'•20 19 CTM Software Corp. Purchaser's Final Affidavit and Agreement File No: 25170135 RE: Real property and improvements located at: 0 WELD COUNTY ROAD 23, CARR, CO 80612, in the County of Weld State of Colorado, and more particularly described in the Commitment issued under the above Commitment No. 25170135 (the "Property"). THE NORTH HALF OF THE THE SOUTHWEST QUARTER OF SECTION 12, TOWNSHIP 10 NORTH, RANGE 67 WEST OF THE 6TH P.M., COUNTY OF WELD, STATE OF COLORADO The Purchaser (the "Purchaser") of the Property, hereby makes the following representations to Land Title Guarantee Company, and any title insurance company for which the Company is agent (collectively the "Company"), with full knowledge and intent that the Company shall rely thereon: 1. The Purchaser has not contracted with, or hired, any person or contractor to furnish services, labor or materials, including any person to furnish architectural or surveying work, for the construction, remodeling, renovations, repair or other maintenance, of improvements on the Property, within the last 120 days. 2. If any person or contractor, within the last 120 days, has furnished services, labor or materials, including any person who has furnished architectural or surveying work, for the construction, remodeling, renovations, repair or other maintenance of improvements on the Property, at the request or on behalf, of the Purchaser, such person or contractor has been paid in full. A complete description of such work or service with all payment information is attached. 3. The Purchaser has not entered into any contract or other agreement creating any right, interest or lien on the Property, or whereby the Property or any portion thereof has been leased. (If all or a portion of the Property is in possession of tenants, or under lease, attach a detailed rent roll with copies of the lease agreement(s)). 4. The Purchaser has taken, or will take, possession of the premises on 5. The full purchase price has been paid by the Purchaser to Seller. In light of the foregoing facts and representations, the Purchaser, in consideration of the issuance by the Company of a policy of Title Insurance covering Property, in the form set out in the Commitment, hereby promises, covenants and agrees to hold harmless, protect and indemnify the Company, from and against those liabilities, losses, damages, expenses and charges, including but not limited to reasonable attorneys' fees (including attorney's fees in the enforcement of this agreement) and expenses of litigation which the Company may incur, arising out of any inaccuracies in the above representations. WELD BY; UNTY AS CHAIR O�OARD ARBARA KIRKMEYR OF COMMISSIONERS State of Colorado )ss. County of WELD The foregoing Final Affidavit and Agreement was subscribed and affirmed before me on this day of Decembeli,2t, 2019 by BARBARA KIRKMEYER, CHAIR OF WELD COUNTY BOARD OF COMMISSIONERS Witness my hand and official seal (� My Commission expires: '7 - ( I '" O Form 104 closing/affidavitifinalaff_purchaser.html otary Public 25170135 (100007707) NANCY A LOHR A f N i.AR'i Iii 1992=Uos57 PMy Commission Expires July 15, 2020 11 1111111111111110 IIIII I III (TD -1000) Confidential Document This form provides essential market information to the county assessor to ensure accurate, fair and uniform assessments for all property. This document is not recorded, is kept confidential, and is not available for public inspection. This declaration must be completed and signed by either the grantor (seller) or grantee (buyer). Questions 1, 2, 3, and 4 may be completed (prefilled) by a third party, such as a title company or closing agent, familiar with details of the transaction. The signatory should confirm accuracy before signing. This form is required when conveyance documents are presented for recording. If this form is not completed and submitted, the county assessor may send notice. If the completed and signed form is not returned to the assessor within 30 days of notice, the assessor may impose a penalty of $25.00 or 0.025% (0.00025) of the sale price, whichever is greater. Additional information as to the purpose, requirements, and level of confidentiality regarding this form are outlined in Colorado Revised Statutes, sections 39-14-102, 39-5-121.5, and 39-13-102. 1. Address and/or legal description of the real property sold: Please do not use P.O. Box numbers THE NORTH HALF OF THE THE SOUTHWEST QUARTER OF SECTION 12, TOWNSHIP 10 NORTH, RANGE 67 WEST OF THE 6TH P.M., COUNTY OF WELD, STATE OF COLORADO 2. Type of Property purchased: n Single Family Residential ❑ Townhome ❑ Condominium ❑ Multi -Unit Res ❑ Commercial 0 Industrial pX Agricultural U Mixed Use ❑ Vacant Land 0 Other 3. Date of Closing:December 12, 2019 Date of Contract if different than date of closing: November 12, 2019 4. Total sale price: Including all real and personal property. $160,000.00 Contracted price (if different from final sale price) $160,000.00 5. List any personal property included in the transaction that materially impacts the total sale price. Personal property may include, but is not limited to: machinery or equipment, vehicles, exceptional appliances, electronic devices, furniture, or anything that would not typically transfer with the real property (attach additional pages if necessary). Description Approximate Value Personal Property Total: $ If no personal property is listed, the entire purchase price will be assumed to be for the real property. 6. Did the total sales price include a trade or exchange of additional real or personal property? ❑ Yes QX No If yes, give the approximate value of the goods or services as of the date of closing. $ If yes, does this transaction involve a trade under IRS Code Section 1031? ❑ Yes U No 7. Was 100% interest in the real property purchased? Mark "no" if only a partial interest is being purchased. QX Yes Q No If no, interest purchased: 8. Is this a transaction between related parties or acquaintances? This includes persons connected by blood or marriage, or business affiliates, or those acquainted prior to the transaction. Q Yes ❑X No 9. Please mark type of sale: Builder (new construction) X Public (MLS or Broker Representation) Private (For Sale By Owner) Other (describe) 10. Check any of the following that ap ly to the condition of the improvements at the time of purchase: ❑ New O Excellent [] Good Average l Fair 0 Poor ❑ Salvage Form 1068 closing/recordings/rpt 2019.html 25170135 (100007707) III I IllIll II II I IIII 1 111 11 III If the property is financed, please complete the following: 11.e of financing: (Check all that apply) X None (all cash or cash equivalent) _ New/Mortgage Lender (government -backed or conventional bank loan) New/Private Third Party (nonconventional lender, e.g., relative, friend, or acquantaince) Seller (buyer obtained a mortgage directly from the seller) Assumed (buyer assumed an existing mortgage) Combination or Other: Please explain 12. 'Mal amount financed: 13. Terms: Variable Starting interest rate % 0 Fixed Interest rate Length of time years Balloon Payment p Yes Q No If yes, amount $0.00 Due Date 14. Mark any that apply: Seller assisted down payment Seller concessions Special terms of financing If marked, please specify: 15. Was an independent appraisal obtained in conjunction with this transaction? EI Yes ❑ No For properties other than residential (Residential is defined as: single family detached, townhomes, apartments, and condominiums) please complete questions 16-18 if applicable. Otherwise, skip to #19 to complete. 16. Did the purchase price include a franchise or license fee? Q Yes 0 No If yes, franchise or license fee value? 17. Did the purchase price involve an installment land contract? 0 Yes Q No If yes, date of contract: 18. If this was a vacant land sale, was an on -site inspection of the property conducted by the buyer prior to the closing? Q Yes Q No Remarks: Please include any additional information concerning the sale you may feel is important. 19. Signed on this day of December 12, 2019 Have at least one of the parties to the transaction sign the document, and include an address and a daytime phone number. Signature of n Grantee(Buyer)F1 or Grantor(Seller) WELD BOUNTY I. / • BY" 4.4 %i -Jx ARBARA KIRKMEYER AS CHAIR , F BOARD OF COMMISSIONERS 20. All future correspondence (tax bills, property valuations, etc.) regarding this property should be mailed to: WELD COUNTY Phone: Email: Contact information is kept confidential, for County Assessor and Treasurer use only, to contact buyer with questions regarding this form, property valuation, or property tax information. Form 1068 closing/recordings/rpt_2019.html 25170135 (100007707) 4549595 12/12/2019 01:38 PM Total Pages: 1 Rec Fee: $13.00 Doc Fee: $16.00 Carly Koppes - Clerk and Recorder, Weld County, CO Special Warranty Deed (Pursuant to C.R.S. 38-30-113(1)(b)) Grantor(s), MIKE G. MALONE, whose street address is 58008 COUNTY ROAD 23, Carr, CO 80612, City or Town of Carr, County of Weld and State of Colorado , for the consideration of ($160,000.00) ***One Hundred Sixty Thousand and 00/100*" dollars, in hand paid, hereby sell(s) and convey(s) to WELD COUNTY, whose street address is 1105 H STREET 127 22ND STREET, Greeley, CO 80631, City or Town of Greeley, County of Weld and State of Colorado, the following real property in the County of Weld and State of Colorado, to wit: State Documentary Fee Date: December 12, 2019 $16.00 THE NORTH HALF OF THE THE SOUTHWEST QUARTER OF SECTION 12, TOWNSHIP 10 NORTH, RANGE 67 WEST OF THE 6TH P.M., COUNTY OF WELD, STATE OF COLORADO EXCEPTING AND RESERVING UNTO GRANTOR ALL MINERALS AND MINERAL RIGHTS ASSOCIATED WITH OR APPURTENANT TO THE PROPERTY FOR THE BENEFIT OF THE GRANTOR AND ITS HEIRS. EXCLUDING RIGHTS TO ROCK, SAND AND GRAVEL MINERALS THAT CAN BE MINED ON THE PROPERTY. also known by street and number as: 0 WELD COUNTY ROAD 23, CARR, CO 80612 with all its appurtenances and warrant(s) the title to the same against all persons claiming under me(us), subject to Statutory Exceptions. Signed tf)is da)fof [ecember 12, 2019. KE G. MALONE fr* State of Colorado County of WELD )ss. The foregoing instrument was acknowledged before me on this day of December 12th, 2019 by MIKE G. MALONE Witness my hand and official seal My Commission expires: 7-1G `e)C,' .'a[- _," A Lo=a Of' RY PUBLIC STATE OF COLORADO NOTARY IO 19924008574 My Commission Expires July 18. 2020 When recorded return to: WELD COUNTY 1105 H STREET 127 22ND STREET, Greeley, CO 80631 Form 1090 closing/deeds/statutory/swd_statutory.html 25170135 (100007707) 111111111111111111111 III 1 III Escrow Agreement for Pre -Signing of Documents Land Title Guarantee Company Escrow Number 25170135 (the "Escrow") Property situated at 0 WELD COUNTY ROAD 23, CARR, CO 80612 Land Title Guarantee Company ("Land Title') is currently acting as the closing and settlement agent under the Escrow. The Escrow is scheduled to close on December 12th, 2019 (the "Closing Date"). In the event that Land Title does not have in its actual possession by 5:00 pm (MDT/MST) on the Closing Date: nExtension of Escrow pending receipt of Funds: Good funds from BUYER in the amount of $157,935.00 nExtension of Escrow pending receipt of Documents: all of the documents listed below Documents Required: Name of person to provide the Documents: 1. ALL PROPERLY EXECUTED DOCUMENTS TO CONSUMMATE CLOSING SELLER 2. 3. 4. then Land Title, as soon as possible thereafter, shall return all documents and monies held by it to the party who deposited same, (other than earnest money/ies paid pursuant to the Contract to Buy and Sell Real Estate dated November 12, 2019 ) without regard for any claim made by any person, induding the Parties, to any one or more of the documents and monies, unless Land Title receives written instructions signed by all of the Parties directing the return of the documents and monies. The release of earnest money/les will be subject to the provisions of the Contract to Buy and Sell Real Estate dated November 12, 2019. Read, approved and accepted on this day of December 12th, 2019 Seller(s): Buyer(s): WELD COUNTY MIKE G. MALONE By: ,C:;(, ll,L �fA../ '`- ,BARBARA KIRKMEYER As CHAIR OF BO/)RD OF COMMISSIONERS Lender: Closing Agent: By: By: Form 262 closing/escrow _agreement/escrow presign.html 25170135 (100007707) III I 111111111111 II I I III II III Soars Real Estate 2021 Clubhouse Dove Suite 1tX) Greeley, CO 13063! Phone: (970)330-7700 Fax: (`J 70)330 ww w sear reale s i ate.. com ik I The printed portions of this form, except differentiated additions, have been approved by the 2 (CBS4-5-19) (Mandatory 7-19) 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 It) Il 12 13 CONTRACT TO BUY AND SELL REAL ESTATE (LAND) t: Property with No Residences) ( ❑ Property with Residences -Residential Addendum Attached) AGREEMENT Date: Novolntzs.t' 22, 201g 14 I. 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. ` of .1 County, (Buyer) will take title 18 to the Property described below as ❑ Joint Tenants ❑ Tenants In Common LT Other In oa 'xo l cy. 19 2.2. No Assignability. This Contract IS NOT assignable by Buyer unless otherwise specified to Additional Provisions, 20 2.3. Seller. i 3e •s t, ,:w (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 iwa.:.d, Colorado: 3 .' _:t i.::i '. .,3o `t tri:ioe.>: __ ..fr 1.2„..n,_� .. .. ., a:_ 2.1 95 26 77 0 Count y Road 23 28 known as No. Street Address 29 30 together with the interests, easements, rights, benefits, improvements and attached fixtures appurtenant thereto and all interest of 31 Seller in vacated streets and alleys adjacent thereto, except us herein excluded (Property). 32 2.5. Inclusions. The Purchase Price includes the following items (Inclusions): 33 2.5,1. Inclusions. The following items, whether fixtures or personal property, are included in the Purchase Price 34 unless excluded under Exclusions: 35 36 37 38 If any additional items are. attached to the Property after the date of this Contract, such additional items are also included in the 39 Purchase Price. 40 2.5.2. Personal Property - Conveyance. Any personal property must be conveyed at Closing by Seller free and 41 clear of all taxes (except personal property taxes foe the year of Closing), liens and encumbrances, except r2/J. 42 Conveyance of all personal property will be by bill of sale or other applicable legal instrument. 43 2.6. Exclusions. The following items are excluded (Exclusions): Carr City z 5 20612 State Zip CB_S(4-S-19. CONTRACT TO BUY AN)) SELL REAL ESTATE (LAND) 1U17-'2019 7:45 Buyer initials Seller initials Page I or IH 44 £xoepr.iraj and radervaNg unto Seller ;a1.1.. ,.aid ac...:-a.l5 a : .: _t..3 rlghts a.ssoc at:ed with ._. o r?1e c'. rsf..t of }:1 ,1 S `s - .Y sx'c udinq gig t acsLa.�x.,.,E r �i�t: r.:rc ,?u..•r.: gravel i'�T.:"aod ::n _ho Property. Thiia ..�va :ion ... ... t'.J:�.a4, _J.(T ._.(].7 .1 V,:� ,..-t:.:..is.. :: .`_'I..1� c.. -4n..-._ :.t).a. .: be 2.no A sd on then 000 . ;42,-. t'.y I. 45 46 47 2.7. Water Rights, Well Rights, Water and Sewer Taps. 48 ❑ 2.7.1. Deeded Water Rights. The following legally described water rights: 49 td/:s 50 51 52 Any deeded water rights will he conveyed by a good and sufficient N/A deed at Closing. 53 [] 2.7.2. Other Rights Relating to Water. The following rights relating to water not included in §§2.7.1. 2.7.3, 2.7.4 54 and 2.7.5, will be transferred to Buyer at Closing: 55 56 57 58 ❑ 2.7.3. Well Rights. Seller agrees to supply required information to Buyer about the well. Buyer understands that if 59 the well to be transferred is a "Small Capacity Well" or a "Domestic aeuapt Water Well" used. For ordinary household purposes, 60 Buyer must, prior to or at Closing, complete a Change in Ownership form for the well, If an existing well has not been registered 61 with the Colorado Division of Water Resources in the Department of Natural Resources (Division), Buyer must complete a 62 registration of existing well form for the well and pay the cost of registration. If no person will be providing a closing service in 63 connection with the transaction, Buyer must file the form with the Division Within sixty days after Closing. The Well Permit #f is 64 N/. . 65 I...; 2.7.4. Water Stock Certificates. The water stock certificates to be transferred at Closing are as follows: 66 "al=t 67 68 69 2.7.5. Water and Sewer Taps. The parties agree that water and sewer taps listed below for the Property arc being 70 conveyed as part of the Purchase Price as follows: 71 ?/A 72 73 74 If any water or sewer taps are included in the sale, Buyer is advised to obtain, from the provider, written confirmation of 75 the amount remaining to be paid, if any, time and other restrictions for transfer and use of the taps. 76 2.7.6. Conveyance. If Buyer is to receive any rights to water pursuant to § 2.7 .2 (Other Rights Relating to Water), 77 § 2.7.3 (Well Rights), § 2.7.4 (Water Stock. Certificates), or § 2.7.5 (Water and Sewer Taps), Seller agrees to convey such rights to 78 Buyer by executing the applicable legal instrument at Closing. 79 2.8. Growing Crops. With respect to growing crops, Seller and Buyer agree as follows: 80 81 82. 83 3. DATES, DEADLINES AND APPLICABILITY. Sit 3.1. Dates and Deadlines. n tem No. Reference Event Date or Deadline 1 § 4.3 Alternative Earnest Money. Deadline ( t.,., t 3 Bus.iness Days Title 2 § 8.1. $ 8.4 Record Title.Deadline : _tii-,L=. 19. 20.19 3 § 8.2, § 8.4 Record Title Objection Deadline I :<jveJnt:er 21. 201 9 4 § 8.3 Off -Record Title Deadline _roz¢ontbex r 9. 2029 5 § 8.3 Off -Record Title Objection Deadline s.c, vanebe_ 2 1 . .019 CBS4.S.19. CONTRACT TO BUY AND SELL REAL. ESTATE (LAND) 11/12/2019 7:45 Buyer initials Setter initials Page 2 of 18 6 7 8 §$.5 § 8.6 Title Resolution Deadline Right of First Refusal Deadline Owners' Association 7.2 Association Documents Deadline § 7.4 Association Documents Termination Deadline Zoovesr lxe.r '', 2019 to II Seller's Disclosures § 10.1 § 10.10 Seller's Property Disclosure Deadline ; Lead -Based Paint Disclosure Deadline (if Residential l Addendum attached) Loan and Credit § 5.1 New Loan Application Deadline 13 § 5.2 T New Loan Termination Deadline 14 § 5.3 Buyer's Credit Information Deadline I5 § 5.3 Disappnival of Buyer's Credit Information Deadline 16 § 5.4 Existing Loan Deadline 17 5.4 Existing Loan Termination Deadline Loan Transfer Approval Deadline N/A 't i § 5.4 i 19 § 4.7 Seller or Private Financing Deadline Appraisal 21 § 6.2 §6 24 § 9,1 § 9.3 Appraisal Deatitine Appraisal Objection Deadline Appraisal Resolution Deadline Survey New ILL:, or New Survey Deadline 25 §9.3 New ILC or New Survey Objection Deadline New ILC or New Survey Resolution Deadline Inspection and Due Diligence 26 § 10.3 27 § 10.3 28 § 10.3 29 § 10.5 30 § 10.6 31 § 10.6 32 § 10.6 33 § 10.6 34 § 10.6 35 .36 Inspection Objection Deadline Inspection Termination Deadline Inspection Resolution Deadline Property Insurance'Iennination Deadline Due Diligence Documents Delivery Deadline Due Diligence Documents Objection Deadline Due Diligence Documents Resolution Deadline Environmental Inspection Termination Deadline ADA Evaluation Termination Deadline § 10.7 Conditional Sale Deadline § 10,10 Lead -Based Paint Termination Deadline (if Residential Addendum attached) Estoppel Statements Deadline Estoppel Statements Termination Deadline 3 7 § 11.1,11.2 3 3 § 11.3 Closing and Possession 39 § 12.3 Closing Date 40 —' § 17 Possession Date 41 § 17 Possession Time t2 § 28 43 §28 Acceptance Deadline Date Acceptance Deadline Time > J. 2, 31.9 i A ii A. 85 3.2. Applicability of Terms. Any box checked in this Contract means the corresponding provision applies. If any deadline 86 blank in § 3.1 (Dates and Deadlines) is left blank or completed with the abbreviation "N/A", or the word "Deleted", such deadline 87 is not applicable a nd the corresponding provision containing the deadline is deleted- Il'no box is checked in a provision that contains 38 a selection of "None", such provision means that "None" applies. ca54-5-19. CONTRACT TO BUY AND SELL REAL ESTATE (LANDi 11/12/_019 7.45 buyer initials �.. Seiler initials /y/f Page 3al' IS 89 The abbreviation "MEC" (mutual execution of this Contract) means the date upon which both parties have signed this Contract 90 4. PURCHASE PRICE AND TERMS. 91 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 4 Amount J § 4.1 Purchase Price $ .i 60, t . 00 2 3 § 4.3 r*4.5 Earnest Money $ 2, d0v.00 New Loan 4 § 4.6 Assumption Balance $ , .2>'A 5 § 4.7 Private Financing $ / 6 § 4.7 Seller Financing $ N/A 7 ;,i _ 1. 9 §64.4 Cash at Closing $ 157, 600.00 10 TOTAi, $ _ -: .' , $ t} 0tt?u, 30 92 4.2. Seller Concession. At Closing, Seller will credit to Buyer $ 0 (Seller Concession). The Seller 93 Concession may be used for any Buyer fee, cost, charge or expenditure to the extent the amount is allowed by the Buyer's lender 94 and is included in the Closing Statement or Closing Disclosure at Closing. Examples of allowable items to he paid for by the Seller 95 Concession include., but are not limited to: Buyer's closing costs, loan discount points, loan origination fees, prepaid items and any 96 other fee, cost, charge, expense. or expenditure. Seller Concession is in addition to any sum Seller has agreed to pay or credit Buyer 97 elsewhere in this Contract 98 4.3. Earnest Money. The Earnest Money set forth in this Section, in the form of a <. Funds , will be 99 payable to and held by Land Tic? = ta.e as t Coaip.anc'(Earriest Money Holder), in its trust account, on behalf of 100 both Seller and Buyer. The Earnest Money deposit must be tendered, by Buyer, with this Contract unless the parties mutually agree 101 to an Alternative Earnest Money Deadline for its payment The parties authorize delivery of the Earnest Money deposit to the 102 company conducting the Closing (Closing Company), if any, at or before Closing. In the event Earnest Money Holder has agreed to 103 have interest on Earnest Money deposits transferred to a fund established for the purpose of providing affordable housing to Colorado 104 residents. Seller and Buyer acknowledge and agree that any interest accruing on the Earnest Money deposited with the Earnest 105 Money Holder in this transaction will be transferred to such fund. 106 4.3.L Alternative Earnest Money Deadline. The deadline for delivering the Earnest Money, if other than at the 107 time of tender of this Contract, is as set forth as the Alternative Earnest Money Deadline. 108 43.2. Return of Earnest Money. If Buyer has a Right to Terminate and timely terminates, Buyer is entitled to the 109 return of Earnest Money as provided in this Contract. If this Contract is terminated as set forth in § 25 and, except as provided in 110 § 24 (Earnest Money Dispute). if the Earnest Money has not already been returned following receipt of a Notice to Terminate, Seller I l 1 agrees to execute and return to Buyer or Broker working with Buyer, written mutual instructions (e.g., Earnest Money Release form), l 12 within three days of Seller's receipt of such form, 113 4.4, Form of Funds; Time of Payment; Available Funds. 1 14 4.4.1. Good Funds, All amounts payable by the parties at Closing, including any loan proceeds, Cash at Closing 115 and closing costs, must be in funds that comply with all applicable Colorado laws. including electronic transfer funds, certified 116 check, savings and loan teller's check and cashier's check (Good Funds). 117 4.4.2. Time of Payment; Available Funds. All funds, including the Purchase Price to be paid by Buyer, must be i l8 paid before or at Closing or as otherwise agreed in writing between the parties to allow disbursement by Closing Company at Closing 119 OR SUCH NONPAYING PARTY WILL BE IN DEFAULT. Buyer represents that Buyer, as of the date of this Contract, I ] Does 120 C.2.1 Does Not have funds that are immediately verifiable and available in an amount not less than the amount stated as Cash at Closing 121 in§4.1. 122 4.5, New Loan. OMITTED AS INAPPLICABLE. 133 4.6. Assumption, OMITTED AS INAPPLICABLE. 146 4.7. Seller or Private Financing. OMITTED AS INAPPLICABLE. 163 TRANSACTION PROVISIONS CBS4-5-13. CONTRACT TO BUY AND SELL REAL ESTATE (LAND) 11112120I'it 7:45 Buyer tuitinls r Seller Initials PIA Page 4 of l8 164 5. FINANCING CONDITIONS AND OBLIGATIONS. 165 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 166 Loan), or if an existing loan is not to be released at Closing, Buyer, if required by such lender, must make an application verifiable 167 by such lender, on or before New Loan Application Deadline and exercise reasonable efforts to obtain such loan or approval. 1688 S.Z. New Loan Review. If Buyer is to pay all or part of the Purchase Price with a New Loan, this Contract is conditional 109 upon Buyer determining, in Buyer's sole subjective discretion, whether the New Loan is satisfactory to Buyer, including its 170 availability, payments, interest rate, terms, conditions and cost, This condition is for the sole benefit of Buyer. Buyer has the Right 17I to Terminate under 25.1, on or before New Loan Termination Deadline, if the New Loan is not satisfactory to Buyer, in Buyer's 172 sole subjective discretion. Buyer does not have a Right CO Terminate based on the New Loan if the objection is based on the Appraised 173 Value (defined below) or the (.ender Requirements (defined below). IF SELLER IS NOT IN DEFAULT AND DOES NOT 174 TIMELY RECEIVE BUYER'S WRITTEN NOTICE TO TERMINATE, BUYER'S EARNEST MONEY WILL BE 175 NONREFUNDABLE, except as otherwise provided in this Contract (e.g., Appraisal, Title. Survey). 176 5.3. Credit. Information. If an existing loan is not to be released at Closing, this Contract is conditional (for the sole benefit 177 of Seller) upon Seller's approval of Buyer's financial ability and creditworthiness, which approval will be in Seller's sole subjective 1.78 discretion. Accordingly: (1) Buyer must supply to Seller by Buyer's Credit information Deadline, at Buyer's expense, information 179 and documents (including a current credit report) concerning Buyer's financial, employment and credit condition; (2)Buyer consents 180 that Seller may verify Buyer's financial ability and creditworthiness; and (3) any such information and documents received by Seller 181 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 182 Closing is less than as set forth in § 4.1 of this Contract, Seller has the Right to germinate under § 25.1, on or before Closing,` tt' 183 Seller disapproves of Buyer's financial ability or creditworthiness, in Seller's sole subjective discretion, Seller has the Right to 184 Terminate tinder § 25,1, on or before Disapproval of Buyer's Credit Information Deadline. 185 5.4. Existing Loan Review. If an existing loan is not to be released at Closing, Seller must deliver copies of the loan 186 documents (including note, deed of trust and any modifications) to Buyer by Existing Loan Deadline. For the sole benefit of Buyer. 187 this Contract is conditional upon Buyer's review and approval of the provisions of such loan documents. Buyer has the Right to 188 Terminate under § 25.1, on or before Existing Loan Terminatiun Deadline, based on any unsatisfactory provision of such loan 189 documents, in Buyer's sole subjective discretion, if the lender's approval of a transfer of the Property is required, this Contract is 19() conditional upon Buyer obtaining such approval without change in the terms of such loan. except as set forth in § 4.6. If lender's 191 approval is not obtained by Loan Transfer Approval Deadline. this Contract will terminate on such deadline, Seller has the Right 192 to Terminate under § 25, f, on or before Closing, in Seller's sole subjective discretion, if Seller is to be released from liability under 193 such existing loan and Buyer does not obtain such compliance as set forth in § 4.6. 194 6. APPRAISAL PROVISIONS. 195 6..1. Appraisal Definition. An "Appraisal" is an opinion of value prepared by a licensed or certified appraiser, engaged on 196 behalf of Buyer or Buyer's lender, to determine the Property's market value (Appraised Value), The Appraisal may also set forth 197 certain lender requirements, replacements. removals or repairs necessary on or to the Proi.lerty as a condition for the Property to be 198 valued at the Appraised Value. 199 6,2. Appraisal Condition. The applicable appraisal provision set forth below applies to the respective loan type set forth 200 in § 4.5.3, or if a cash transaction (i.e. no financing). § 6.2.1 applies. 201 6,2,1. Conventional/Other. Buyer has the right to obtain an Appraisal If the Appraised Value is less than the 20'2 Purchase Price, or if the Appraisal is not received by Buyer on or before Appraisal Deadline Bayer may, on or before Appraisal 203 Objection Deadline, notwithstanding § 8.3 or § 13: 204 6.2..LL Notice to Terminate. Notify Seller in writing, pursuant to § 25.1, that this Contract is terminated; 205 or 206 6.2.1.2. Appraisal Objection. Deliver to Seller a written objection accompanied by either a copy of the 207 Appraisal or written notice from lender that confirms the Appraised Value is leas than the Purchase Price (Lender Verification). 208 6.2.13. Appraisal Resolution. If an Appraisal. Objection is received by Seller, on or before Appraisal 209 Objection Deadline and if Buyer and Seller have not agreed in writing to a settlement thereof on or before Appraisal Resolution 210 Deadline, this Contract will terminate on the Appraisal Resolution Deadline, unless Seller receives Buyer's written withdrawal of 2 I I the Appraisal Objection before such termination, i.e., on or before expiration of Appraisal Re olution Deadline. 2 f 2 63. Lender Property Requirements. If the lender imposes any written requirements, replacements. removals or repairs, 213 including any specified in the Appraisal (Lender Requirements) to be made to the Property (e.g., roof repair, repainting), beyond 214 those matters already agreed to by Seller in this Contract, this Contract terminates on the earlier of three days following Seller's 2 [ 5 receipt of the Lender Requirements, or Closing, unless prior to termination: (I) the parties enter into a written agreement to satisfy 2 t6 the Lender requirements; (2) the Lender Requirements have been completed; or (3) the satisfaction of the Lender Requirements is 217 waived in writing by Buyer. 218 6.4. Cost of Appraisal. Cost of the Appraisal to be obtained after the date of this Contract most be timely paid by Li Buyer CBS4.5-19. CONTRACT TO BUY AND SELL RF,AI. ESTATE (LAND) 1 1/1212019 7:41 Buyer inttilIs Pugs softs Seller initials "r.rt 219 O Seller. The cost of the Appraisal may include any and all fees paid to the appraiser, appraisal management company, lender's 220 agent or all three. 221 7. OWNERS' ASSOCIATION. This Section is applicable if the Property is located within a Common interest Community and 222 subject to the declaration (Association). 223 7.1. Common Interest Community Disclosure. THE PROPERTY IS LOCATED WITHIN A COMMON 224 INTEREST COMMUNITY AND IS SUBJECT TO THE DECLARATION FOR THE COMMUNITY. THE OWNER OF 225 THE PROPERTY WILL BE REQUIRED TO BE A MEMBER OF THE OWNERS' ASSOCIATION FOR THE 226 COMMUNITY AND WILL BE SUBJECT TO THE BYLAWS AND RULES AND REGULATIONS OF THE 2'27 ASSOCIATION. THE DECLARATION, BYLAWS AND RULES AND REGULATIONS WILL IMPOSE FINANCIAL 228 OBLIGATIONS UPON THE OWNER OF TILE PROPERTY, INCLUDING AN OBLIGATION TO PAY ASSESSMENTS 229 OF THE ASSOCIATION, IF THE OWNER DOES NOT PAY THESE ASSESSMENTS, THE ASSOCIATION COULD 230 PLACE A LIEN ON THE PROPERTY AND POSSIBLY SELL IT TO PAY THE DEBT. THE DECLARATION, BYLAWS 231 AND RULES AND REGULATIONS OF THE COMMUNITY MAY PROHIBIT THE OWNER FROM MAKING 232 CHANGES TO THE PROPERTY WITHOUT AN ARCHITECTURAL REVIEW BY THE ASSOCIATION (OR A 233 COMMITTEE OF TILE ASSOCIATION) AND THE APPROVAL OF THE ASSOCIATION. PURCHASERS OF 234 PROPERTY WITHIN THE COMMON INTEREST COMMUNITY SHOULD INVESTIGATE THE FINANCIAL 235 OBLIGATIONS OF MEMBERS OF THE ASSOCIATION. PURCHASERS SHOULD CAREFULLY READ THE 236 DECLARATION FOR THE COMMUNITY AND THE BYLAWS AND RULES AND REGULATIONS OF THE 237 ASSOCLATION. 238 7.2. Association Documents to Buyer. Seller is obligated to provide to Buyer the Association Documents (defined below). 239 at Seller's expense, on or before Association Documents Deadline. Seller authorizes the Association to provide the Association 240 Documents to Buyer, at Seller's expense. Seller's obligation to provide the Association Documents is fulfilled upon Buyer's receipt 241 of the Association Documents, regardless of who provides such documents. 242 7.3. Association Documents. Association documents (Association Documents) consist of the following: 243 7.3.1. All Association declarations, articles of incorporation, bylaws, articles of organization, operating agreements, 241 rules and regulations, party wall agreements and the Association's responsible governance policies adopted under § 38.33.3-209.5, 245 C.R.S.; 246 7.3.2. Minutes of: ( I ) the annual owners' or members' meeting and (2) any executive hoards' or managers' meetings: 247 such minutes include those provided under the most current annual disclosure required under § 38-33.3-209.4, C.R.S. (Annual 248 Disclosure) and minutes of meetings, if any, subsequent to the minutes disclosed in the Annual Disclosure. If none of the preceding 249 minutes exist. then the most recent minutes, if any (§§ 7.3.1 and 7.3.2, collectively, Governing Documents); and 250 73,3, List of all Association insurance policies as provided in the Association's last Annual Disclosure, including, 251 but not limited to, property, general liability, association director and officer professional liability and fidelity policies. The list must 252 include the company names, policy limits, policy deductibles, additional named insureds and expiration dates of the policies listed 253 (Association Insurance Documents); 254 7.3.4. A list by unit type of the Association's assessments, including both regular and special assessments as 255 disclosed in the Association's last Annual Disclosure; 256 73.5. The Association's most recent financial documents which consist of: (1) the Association's operating budget 257 for the current fiscal year, (2) the Association's most recent annual financial statements, including any amounts held in reserve for 258 the fiscal year immediately preceding the Association's last Annual Disclosure, (3) the results of the Association's most recent 259 available financial audit or review, (4) list of the fees and charges (regardless of name of title of such fees or charges) that the 260 Association's community association manager or Association will charge in connection with the Closing including, but not limited 261 to, any fee incident to the issuance of the Association's statement of assessments (Status Letter), any rush or update fee charged for 262 the Status Letter, any record change fee or ownership record transfer fees (Record Change Fee), fees to access documents, (5) list of 263 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 264 7,3,5, collectively, Financial Documents); 265 7.3.6. Any written notice from the Association to Seller of a "construction defect action" under § 38-33,3-303.5, 266 C.R.S. within the past six months and the result of whether the Association approved or disapproved such action (Construction 267 Defect Documents). Nothing in this Section limits the Seller's obligation to disclose adverse material facts as required under § 10.2 268 (Disclosure of Adverse Material Facts; Subsequent Disclosure; Present Condition) including any problems or defects in the common 269 elements or limited common elements of the Association property. 270 7.4. Conditional on Buyer's Review. Buyer has the right to review the Association Documents. Buyer has the Right to 271 Terminate under § 25.1. on or before Association Documents Termination Deadline, based on any unsatisfactory provision in any 272 of the Association Documents, in Buyer's sole subjective discretion. Should Buyer receive the Association Documents after 273 Association Documents Deadline, Buyer, at Buyer's option, has the Right to Terminate under § 25,1 by Buyer's Notice to 274 Terminate received by Seller on or before ten days after Buyer's receipt of the Association Documents. If Buyer does not receive Ca44-S-i9, CONTRACT TO BUY AND SELL REAL ESTATE (LAND) 1 I/12/2019 7:45 Page 6 of 18 Buyer initials laV--.°- Seiler initials 275 the Association Documents, or if Buyer's Notice to Terminate would otherwise be required to be received by Seiler after Closing 276 Date, Buyer's Notice to Terminate must be received by Seller on or before Closing. If Seller does not receive Buyer's Notice to 277 Terminate within such time, Buyer accepts the previsions of the Association Documents as satisfactory and Buyer waives any Right 278 to Terminate under this provision, notwithstanding the provisions of § 8.6 (Right of First Refusal or Contract Approval). 279 8. TITLE INSURANCE, RECORD TITLE AND OFF -RECORD TITLE. 280 8.1. Evidence of Record Title. 281 '; (i 8,1.1. Seller Selects Title Insurance Company. If this box is checked, Seller will select the title insurance company 282 to ftirnish the owner's title insurance policy at Seller's expense. On or before Record Title Deadline, Seller must furnish to Buyer, 283 a current commitment for an owner's title insurance policy (Title Commitment), in an amount equal to the Purchase Price, or if this 284 box is checked. O an Abstract of Title certified to a current date. Seller will cause the title insurance policy to be. issued and 285 delivered to Buyer as soon as practicable at or after Closing. 286 O 8.1.2. Buyer Selects Title Insurance Company . If this box is checked. Buyer will select the title insurance company 287 to furnish the owner's title insurance policy at Buyer's expense. On or before Record Title Deadline, Buyer must furnish to Seller, a 288 current commitment for owner's title insurance policy (Title Commitment). in an amount equal to the Purchase Price. 289 If neither box in § 8.1.1 or § 8.1.2 is checked. § 8.1,1 applies. 290 8.1.3. Owner's Extended Coverage (OEC). The Title Commitment !i i Will Q Will Not contain Owner's 291 Extended Coverage (DEC). if the Title Commitment is to contain OEC, it will commit to delete or insure over the standard 292 exceptions which relate to: (I ) parties in possession, (2) unrecorded easements, (3) survey matters, (4) unrecorded mechanics' liens, 293 (5) gap period (period between the effective date and time of commitment to the date and time the deed is recorded) and (6) unpaid 294 taxes, a sessments and unredeemed tax sales prior to the year of Closing. Any additional premium expense to obtain OEC will he 295 paid by Buyer O Seller O One -Half by Buyer and One -Half by Seller Li Other ;;. 296 Regardless of whether the Contract requires OEC, the Title Insurance Commitment may not provide OEC or delete or insure over 297 any or all of the standard exceptions for OEC. The Title insurance Company may require a New Survey or New TLC. defined below, 298 among other requirements for DEC. If the Title Insurance Commitment is not satisfactory to Buyer, Buyer has a right to object under 299 § 8.5 (Right to Object to Title, Resolution). 300 8.1.4. Title Documents. Title Documents consist of the following: (I) copies of any plats, declarations, covenants, 301 conditions and restrictions burdening the Property and (2) copies of any other documents (or, if illegible, summaries of such 302 documents) listed in the schedule of exceptions (Exceptions) in the Title Commitment furnished to Buyer (collectively, Title 303 Documents). 304 8.1.5. Copies of Title Documents. Buyer must receive, on or before Record Title Deadline, copies of all Title 305 Documents. This requirement pertains only to documents as shown of record in the office of the clerk and recorder in the. county 306 where the Property is located. The cost of furnishing copies of the documents required in this Section will be at the expense of the 307 party or parties obligated to pay for the owner's title insurance policy. 308 8.1.6. Existing Abstracts of Title. Seller must deliver to Buyer copies of any abstracts of title covering all or any 309 portion of the Property (Abstract of Title) in Seller's possession on or before Record Title Deadline. 310 8.2. Record Title. Buyer has the right to review and object to the Abstract of Title or "title Commitment and any of the 311 Title Documents as set forth in § 8.5 (Right to Object to Title, Resolution) on or before Record Title Objection Deadline. Buyer's 312 objection may be based on any unsatisfactory form or content of Title Commitment or Abstract of Title, notwithstanding § 13, or 313 any other unsatisfactory title condition, in Buyer's sole subjective discretion. lithe Abstract of Title, Title Commitment or Title 314 Documents are not received by Buyer on or before the Record Title Deadline, or if there is an endorsement to the Title Commitment 315 that adds a new Exception to title, a copy of the new Exception to title and the modified Title Commitment will be delivered to 316 Buyer. Buyer has until the earlier of Closing or ten days alter receipt of such documents by Buyer to review and object to: (1) any 317 required Title Document not timely received by Buyer, (2) any change to the Abstract of Title, Title Commitment or Title Documents, 318 or (3) any endorsement to the Tide Commitment. If Seller receives Buyer's Notice to Terminate or Notice of Tide Objection, 319 pursuant to this § 8.2 (Record Title), any title objection by Buyer is governed by the provisions set forth in § 8.5 (Right to Object to 320 Title. Resolution). If Seller has fulfilled all Seller's obligations, if any, to deliver to Buyer all documents required by § 8.1 (Evidence 321 of Record Title) and Seller does not receive Buyer's Notice to Terminate or Notice of Title Objectionby the applicable deadline 322 specified above, Buyer accepts the condition of title as disclosed by the Abstract of Title, Title Commitment and Title Documents 323 as satisfactory. 324 8,3. Off -Record Title. Seller must deliver to Buyer, on or before Off -Record Title Deadline, true copies of all existing 325 surveys in Seller's possession pertaining to the Property and must disclose to Buyer all easements, liens (including, without 326 limitation, governmental improvements approved, but not yet installed) or other title matters (including, without limitation, rights of 327 first refusal and options) not shown by public records, of which Seller has actual knowledge (Ott' -Record Matters). This Section 328 excludes any New [LC or New Survey governed under § 9 (Nev ILC, New Survey). Buyer has the right to inspect the Property to 329 investigate if any third party has any right in the Property not shown by public records (e.g., unrecorded easement, boundary line 330 discrepancy or water rights). Buyer's Notice to Terminate or Notice of Title Objection of any unsatisfactory condition (whether CBS4-5•t9. CONTRACT TO BUY ANI) SELL REAL F.TATJi (LANES) 111)2/20(97:45 Buyer initial,: Seller initials Page 7 of 18 33 t disclosed by Seller or revealed by such inspection, notwithstanding § 8.2 (Record Title) and § I3 (Transfer of Title)), in Buyer's 332 sole subjective discretion, must be received by Seller on or before Off Record Title Objection Deadline. If an Off -Record Matter 333 is received by Buyer after the Of Record Title Deadline, Buyer has until the earlier of Closing or ten days after receipt by Buyer 334 to review and object to such Off -Record Matter- If Seller receives Buyer's Notice to Terminate or Notice of Title Objection pursuant 335 to this § 8.3 (Off -Record Title), any title objection by Buyer is governed by the provisions set forth in * 8.5 (Right to Object to Title, 336 Resolution). If Seller does not receive Buyer's Notice to Terminate or Notice of Title Objection by the applicable deadline specified 337 above. Buyer accepts title subject to such Off -Record Matters and rights, if any, of third parties not shown by public records of which 338 Buyer has actual knowledge. 339 8.4. Special Taxing Districts. SPECIAL TAXING DISTRICTS MAY BE SUBJECT TO GENERAL OBLIGATION 340 INDEBTEDNESS THAT IS PAID BY REVENUES PRODUCED FROM ANNUAL TAX LEVIES ON THE TAXABLE 34 PROPERTY WITHIN SUCH DISTRICTS. PROPERTY OWNERS IN SUCH DISTRICTS MAY BE PLACED AT RISK 342 FOR INCREASED KILL LEVIES AND TAX TO SUPPORT THE SERVICING OF SUCH DEBT WHERE 343 CIRCUMSTANCES ARISE RESULTING IN THE INABILITY OF SUCH A DISTRICT TO DISCHARGE SUCH 344 INDEBTEDNESS WITHOUT SUCH AN INCREASE IN MILL LEVIES. BUYERS SHOULD INVESTIGATE THE 345 SPECIAL TAXING DISTRICTS IN WHICH THE PROPERTY IS LOCATED BY CONTACTING THE COUNTY 346 TREASURER, BY REVIEWING TILE CERTIFICATE OF TAXES DUE FOR THE PROPERTY, AND BY OBTAINING 347 FURTHER INFORMATION FROM THE BOARD OF COUNTY COMMISSIONERS, THE COUNTY CLERK AND 348 RECORDER, OR THE COUNTY ASSESSOR. 349 A tax certificate from the respective county treasurer listing any special taxing districts that effect the Property (Tax Certificate) 350 must he delivered to Buyer on or before Record Title Deadline. if the Property is located within a special taxing district and such 351 inclusion is unsatisfactory to Buyer, to Buyer's sole subjective discretion, Buyer may object, on or before Record Title Objection 352 Deadline, If the Tax Certificate shows that the Property is included in a special taxing district and is received by Buyer after the 353 Record Title Deadline, Buyer has until the earlier of Closing or ten days after receipt by Buyer to review and object to the Property's 354 inclusion in a special taxing district as unsatisfactory to Buyer. 355 8.5. Right to Object to Title, Resolution, Buyer's right to object, in Buyer's sole subjective discretion, to any title matters 356 includes those matters set forth in § 8.2 (Record Title), § 8.3 (Off -Record Title), § 8.4 (Special Taxing District) and § 13 (Transfer 357 of Title), If Buyer objects to any title matter, on or before the applicable deadline. Buyer has the following options: 358 8.5.1. Title Objection, Resolution. If Seller receives Buyer's written notice objecting to any title matter (Notice of 359 Title Objection) on or before the applicable deadline and if'Buyer and Seller have not agreed to a written settlement thereof on or 360 before Title Resolution Deadline. this Contract will terminate on the expiration of Title Resolution Deadline, unless Seller receives 361 Buyer's written withdrawal of Buyer's Notice of Title Objection (i.e.. Buyer's written notice to waive objection to such items and 362 waives the Right to Terminate for that reason), on or before expiration of Title Resolution Deadline. If either the Record Title 363 Deadline or the Off -Record Title Deadline, or both, arc extended pursuant to § 8.2 (Record Title), § 8.3 (Off -Record Title) or § 8.4 364 (Special Taxing Districts), the Title Resolution Deadline also will be automatically extended to the earlier of Closing or fifteen days 365 after Buyer's receipt of the applicable documents; or 366 8.5.2. Title Objection, Right to Terminate. Buyer may exercise. the Right to Terminate under § 25.1, on or before 367 the applicable deadline, based on any title matter unsatisfactory to Buyer, in Buyer's sole subjective discretion. 368 8.6. Right of First Refusal or Contract Approval. If there is a right of first refusal on the Property, or a right to approve 369 this Contract, Seller must promptly submit this Contract according to the terms and conditions of such right. If the holder oldie right 370 of first refusal exerc ses such tight or the holder of a right to approve disapproves this Contract, this Contract will terminate. If the 371 right of first refusal is waived explicitly or expires, or the Contract is approved, this Contract will remain in full force and effect. 372 Seller must promptly notify Buyer in writing cif the foregoing, If expiration or waiver of the right of first refusal or approval of this 373 Contract has nut occurred on or before Right of First Refusal Deadline, this Contract will then terminate. 374 8.7. Title Advisory. The Title Documents affect the title, ownership and use of the Property and should be reviewed 375 carefully. Additionally, other matters not reflected in the Title Documents may affect the title, ownership and use of the Property, 376 including, without limitation, boundary lines and encroachments, set -back requirements, area, zoning, building code violations, 377 unrecorded easements and claims of easements, leases and other unrecorded agreements, water on or under the Property and various 378 laws and governmental regulations concerning land use, development and environmental matters. 379 8.7.1. OIL, GAS, WATER AND MINERAL DISCLOSURE. THE SURFACE ESTATE OF THE 330 PROPERTY MAY BE OWNED SEPARA'T'ELY FROM THE UNDERLYING MINERAL ESTATE AND TRANSFER 381 OF THE SURFACE ESTATE MAY NOT NECESSARILY INCLUDE TRANSFER OF THE MINERAL ESTATE OR WATER 382 RIGHTS. THIRD PARTIES MAY OWN OR LEASE INTERESTS IN OIL, GAS, OTHER MINERALS, GEOTHERMAL 383 ENERGY OR WATER ON OR UNDER THE SURFACE OF THE PROPERTY, WHICH INTERESTS MAY GIVE THEM 384 RIGHTS TO ENTER ANC) USE THE SURFACE OF THE PROPERTY TO ACCESS THE MINERAL ESTATE, OIL, 385 GAS OR WATER. 386 8,7.2. SURFACE USE AGREEMENT. THE USE OF THE SURFACE ESTATE OF THE PROPERTY TO 387 ACCESS THE OIL, GAS OR MINERALS MAY BE GOVERNED BY A SURFACE USE AGREEMENT, A Ct1S4-S•19, CONTRACT Tc)1t AND SELL, REAI. ESTATE (LAND) 1 1/121200 ?:45 \/.....„ Buyer initial,: Setter initish Page 8 or l8 388 MEMORANDUM OR OTHER NOTICE OF WHICH MAY BE RECORDED WITH THE COUNTY CLERK AND 389 RECORDER. 390 8.7.3. OIL AND GAS ACTIVITY. OIL AND GAS ACTIVITY THAT MAY OCCUR ON OR ADJACENT 391 TO THE PROPERTY MAY INCLUDE, BUT IS NOT LIMITED TO, SURVEYING, DRILLING, WELL COMPLETION 392 OPERATIONS, STORAGE, OIL AND GAS, OR PRODUCTION FACILITIES, PRODUCING WELLS, REWORKING 393 OF CURRENT WELLS AND GAS GATHERING AND PROCESSING FACILITIES. 394 8.7.4. ADDITIONAL INFORMATION. BUYER IS ENCOURAGED TO SEEK ADDITIONAL 395 INFORMATION REGARDING OIL AND GAS ACTIVITY ON OR ADJACENT TO THE PROPERTY, INCLUDING 396 DRILLING PERMIT APPLICATIONS. THIS INFORMATION MAY BE AVAILABLE FROM THE COLORADO OIL 397 AND GAS CONSERVATION COMMISSION. 398 8.7.5. Title Insurance Exclusions. Matters set forth in this Section and others, may be excepted, excluded from, or 399 not covered by the owner's title insurance policy. 400 8.8. Consult an Attorney. Buyer is advised to timely consult legal counsel with respect to all such matters as there are 401 strict time limits provided in this Contract (e.g., Record Title Objection Deadline and Off -Record Title Objection Deadline). 402 9. NEW TLC, NEW SURVEY. 403 9,1. New ILC or New Survey. If the box is checked, a: t) ❑ New Improvement Location Certificate (New ILC); or, 404 2) [.j New Survey in the form of AL nrt, Survey ; is required and the following will apply: k‘, , 405 9.1.1. Ordering of New TLC or New Survey. O Seller %Buyer will order the New ILC or New Survey. The (/f . 406 New ILC or New Survey may also he a previous ll..C or survey that is in the above -required form, certified and updated as of a date 407 after the date of this Contract. 408 9.11. Payment for New ILC or New Survey. The cost of' the New ILC or New Survey will he paid, on or before 409 Closing, by: U Seller ' Buyer or: 410 411 412 413 414 415 416 417 418 419 420 421 422 423 424 425 426 427 428 429 430 431 432 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 ' e.. ±-.)f:.7 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 to 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 § 25.1, that this Contract is terminated; or 93.2. New ILC or New Survey Objection. Deliver to Seller a written description of any matter that was to be shown ur is shown in the New TLC 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 433 10. PROPERTY DISCLOSURE, INSPECTION, INDEMNITY, INSURABILITY, DUE DILIGENCE AND SOURCE OF 434 WATER. 435 10.1. Seller's Property Disclosure. On or before Seller's Property Disclosure Deadline, Seller agrees to deliver to Buyer 436 the most current version of the applicable Colorado Real Estate Commission's Seller's Property Disclosure form completed by Seller 437 to Seller's actual knowledge and current as of the date of this Contract. 438 10.2. Disclosure of Adverse Material Facts; Subsequent Disclosure; Present Condition. Seller must disclose to Buyer 439 any adverse material facts actually known by Seller as of the date of this Contract. Seller agrees that disclosure of adverse material 440 facts will be in writing. In the event Seller discovers an adverse material fact after the date of this Contract, Seller must timely 441 disclose such adverse fact to Buyer. Buyer has the Right to Terminate based on the Seller's new disclosure on the earlier of Closing CBS4.5'19. CONTRACT TO inn( AND SELL. REAL ESTATE (LAND) I I/11/20197:45 Buyer initial» Seller initials Page 9 of I8 442 or five days after Buyer's receipt of the new disclosure. Except as otherwise provided in this Contract, Buyer acknowledges that 443 Seller is conveying the Property to Buyer in an "As LS" condition, "Where Is" and "With All Faults." 444 10.3. Inspection. Unless otherwise provided in this Contract, .Buyer. acting in good faith, has the right to have inspections 445 (by one or more third parties, personally or both) of the Property and Inclusions (Inspection), at Buyer's expense. 11 (1) the physical 446 condition of the Property. including, but not limited to, the roof, walls, structural integrity of the Property, the electrical, plumbing, 447 l-IVAC and other mechanical systems of the Property, (2) the physical condition of the Inclusions, (3) service to the Property 448 (including utilities and communication services), systems and components of the Property (e.g., heating and plumbing), (4) any 449 proposed or existing transportation project, road, street or highway, or (5) any other activity, odor or noise (whether on or off the 450 Property) and its effect or expected effect on the Property or its occupants is unsatisfactory, in Buyer's sole subjective discretion, 451 Buyer may: 452 10.3.1. Inspection Objection. On or before the Inspection Objection Deadline, deliver to Seller a written 453 description of any unsatisfactory condition that. Buyer requires Seller to correct; or 454 10.3.2. Terminate. On or before the Inspection Termination Deadline, notify Seller in writing, pursuant to § 25.1. 455 that this Contract is terminated due to any unsatisfactory condition. Inspection Termination Deadline will be on the earlier of 456 Inspection Resolution. Deadline or the date specified in § 3.1 for Inspection Termination Deadline. 457 10.3.3. inspection Resolution. If an Inspection Objection is received by Seller, on or before Inspection Objection 458 Deadline and if Buyer and Seller have not agreed in writing to a settlement thereof on or before Inspection Resolution Deadline, 459 this Contract will terminate on Inspection Resolution Deadline unless Seller receives Buyer's written withdrawal of the Inspection 46() Objection before such termination., i.e„ on or before expiration of Inspection Resolution Deadline. 461 10.4. Damage, Liens and. Indemnity. Buyer, except as otherwise provided in this Contract or other written agreement 462 between the parties, is responsible for payment for all inspections, tests, surveys, engineering reports, or other reports performed at 463 Buyer's request (Work) and must pay for any damage that occurs to the Property and Inclusions as a result of such Work. Buyer 464 must not permit claims or liens of any kind against the Property for Work performed on the Property. Buyer agrees to indemnify, 465 protect and hold Seller harmless from and against any liability, damage, cost or expense incurred by Seller and caused by any such 466 Work, claim, or lien. This indemnity includes Seller's right to recover all costs and expenses incurred by Seller to defend against 467 any such liability, damage, east or expense, or to enforce this Section, including Seller's reasonable attorney fees, legal fees and 468 expenses. The provisions of this Section survive the termination of this Contract. This § 10.4 does not apply to items performed 469 pursuant to an Inspection Resolution. 470 10.5. Insurability. Buyer has the right to review and object to the availability, terms and conditions of and premium fdr 471 property insurance (Property Insurance). Buyer has the Right to Terminate under § 25.1, on or before Property Insurance 472 Termination Deadline, based on any unsatisfactory provision of the Property Insurance, in Buyer's sole subjective discretion. 473 10.6. Due Diligence. 474 10,6,.1, Due Diligence Documents- If the respective box is checked, Seller agrees to deliver copies of the following 475 documents and information pertaining to the Property (Due Diligence Documents) to Buyer on or before Due Diligence Documents 476 Delivery Deadline: 477 ❑ 10.6.1.1. All contracts relating to the operation, maintenance and management of the Property; 478 ❑ 10.6.1.2. Property tax bills for the last N/A years; 479 Li 1.0.6,1,3. As -built construction plans to the Property and the tenant improvements, including architectural, 480 electrical, mechanical and structural systems; engineering reports; and permanent Certificates of Occupancy, to the extent now 481 available; 482 ❑ 10.6.1.4. A list of all Inclusions to be conveyed to Buyer; 483 0 10.6.1.5. Operating statements for the past N/A years; 484 0 10.6.1.6. A rent roll accurate and correct to the date of this Contract; 485 Ll 10.6.1.7. All current leases, including any amendments or other occupancy agreements, pertaining to the 486 Property. Those leases or other occupancy agreements pertaining to the Property that survive Closing are as follows (Leases): 487 N,`.4 488 489 0 10.6.1.8. A schedule of any tenant improvement work Seller is obligated to complete but has not yet 490 completed and capital improvement work either scheduled or itt process on the date of this Contract: 491 0 10.6.1.9. All insurance policies pertaining to the Property and copies of any claims which have been made 492 for the past N/A years: 493 0 10.6.1.10. Soils reports, surveys and engineering reports or data pertaining to the Property (if not delivered 494 earlier under § 8.3); 495 0 10.6.1.11. Any and all existing documentation and reports regarding Phase I and II environmental reports, 496 letters, test results, advisories and similar documents respective to the existence or nonexistence of asbestos, PCB transformers, or 497 other toxic, hazardous or contaminated substances and/or underground storage tanks and/or radon gas. If no reports are in Seller's 498 possession or known to Seller, Seller warrants that no such reports are in Seller's possession or known to Seller, CBS4-5-39. CONTRACT TO BUY AND SELL REAL ESTATE (LAND) i U12/2019 7:45 Buyer [nitiah Seller initials { Page JO of 16 499 0 10.6.L12. Any.Americans with Disabilities Act reports, studies or surveys concerning the compliance of the 500 Property with said Act; 501 0 10.6.1.13. All permits, licenses and other building or use authorizations issued by any governmental authority 502 with jurisdiction over the Property and written notice of any violation of any such permits, licenses or use authorizations, if any; and 503 C._] 10.6.1.14. Other documents and information: 504 N A 505 506 10.6.2. Due Diligence Documents Review and Objection. Buyer has the right to review and object to Due Diligence 507 Documents. If the Due Diligence Documents are not supplied to Buyer or are unsatisfactory, in Buyer's sole subjective discretion, 5011 Buyer may, on or before Due Diligence Documents Objection Deadline: 509 10.6.2.1. Notice to Terminate. Notify Seller in writing, pursuant to § 25.1, that this Contract is terminated; 510 or 511 10.6,2.2. Due Diligence Documents Objection. Deliver to Seller a written description of any 512 unsatisfactory Due Diligence Documents that Buyer requires Seller to correct. 513 10.6.2.3. Due Diligence Documents Resolution. If a Due Diligence Documents Objection is received by 514 Seller, on or before Due Diligence Documents Objection Deadline and if Buyer and Seller have nut agreed in writing to a settlement 515 thereof on or before Due Diligence Documents Resolution Deadline, this Contract will terminate on Due Diligence Documents 516 Resolution Deadline unless Seller receives Buyer's written withdrawal of the 1)uc Diligence Documents Objection before such 517 termination, i.e., on or before expiration of Due Diligence Documents Resolution Deadline. 518 10.6.3. Zoning. Buyer has the Right to Terminate under § 25.1, on or before Due Diligence Documents Objection 519 Deadline, based on any unsatisfactory zoning and any use restrictions imposed by any governmental agency with jurisdiction,over 520 the Property, in Buyer's sole subjective discretion. 521 10.6.4_ Due Diligence — Environmental, ADA. Buyer has then right to obtain environmental inspections of the 522 Property including Phase I and Phase II Environmental Site Assessments, as applicable.. El Seller L Buyer will order or provide 523 ❑ Phase I Environmental Site Assessment, Li Phase 11 Environmental Site Assessment (compliant with most current version 524 of the applicable ASTM El527 standard practices for Environmental Site Assessments) and/or -i N/A. 525 at the expense of 0 Seller D Buyer (Environmental inspection). In addition, Buyer, at Buyer's expense, may also conduct an 526 evaluation whether the Property complies with the Americans with Disabilities Act (ADA Evaluation). All such inspections and 527 evaluations must be conducted at such times as are mutually agreeable to minimize the interruption of Seller's and any Seller's 528 tenants' business uses of the Property, if any. 529 If Buyer's Phase 1 Environmental Site Assessment recommends a Phase 11 Environmental Site Assessment, the Environmental 530 inspection Termination Deadline will be extended by N/A days (Extended Environmental Inspection 531 Termination Deadline) and if such Extended :Environmental inspection Termination Deadline extends beyond the Closing Date, the 532 Closing Date will be extended a like period of time. In such event. ❑ Seller ❑ Buyer must pay the cost for such Phase II 533 Environmental Site Assessment. 534 Notwithstanding Buyer's right to obtain additional environmental inspections of the Property in this § 10.6.4, Buyer has the 535 Right to Terminate under § 25,1, on or before Environmental Inspection Termination Deadline, or if applicable, the Extended 536 Environmental Inspection Termination Deadline, based on any unsatisfactory results of Environmental Inspection, in Buyer's sole 537 subjective discretion. 538 Buyer has the Right to Terminate under § 25.1, on or before ADA Evaluation Termination Deadline. based on any 539 unsatisfactory ADA Evaluation, in Buyer's sole subjective discretion. 540 10,.7, Conditional Upon Sale of Property. This Contract is conditional upon the sale and closing of that certain property 54 t owned by Buyer and commonly known as WA. Buyer has the Right 542 to Terminate under *15.1 effective upon Seller's receipt of Buyer's Notice to Terminate on or before Conditional Sale Deadline if 543 such property is not sold and closed by such deadline. This Section is for the sole benefit of Buyer. If Seiler does not receive Buyer's 544 Notice to Terminate on or before Conditional Sale Deadline, Buyer waives any Right to Terminate under this provision. 545 10.8. Source of Potable Water (Residential Land and Residential improvements Only). Buyer LI Does ( Does Not 546 acknowledge receipt of a copy of Seller's Property Disclosure or Source of Water Addendum disclosing the source of potable water for 547 the Property. 1,1':n There, is No Well, Buyer Li Dui :Does Nut acknowledge receipt of a copy of the current well permit. 548 Note to Buyer: SOME WA E,R PROVIDERS RELY, TO VARYING DEGREES, ON NONRENEWABLE GROUND 549 WATER. YOU MA's' WISH TO CONTACT YOUR. PROVIDER (OR INVESTIGATE 'TIE; DESCRIBED SOURCE) TO 550 DETERMINE THE LONG-TERM SUFFICIENCY OF THE PROVIDER'S WATER SUPPLIES. 55! 10.9. Existing Leases; Modification of Existing Leases; New Leases. Seller states that none of the Leases to be assigned 552 to the Buyer at the time of Closing contain any rent concessions. rent reductions or rent abatements except as disclosed in the Lease 553 or other writing received by Buyer. Seller will not amend, alter, modify, extend or cancel any of the Leases nor will Seller enter into 554 any new leases affecting the Property without the prior written consent of Buyer, which consent will not be unreasonably withheld 555 or delayed. C8.S4.5.1.9. CONTRACT TO 1IUY AND SELL REAL ESTATE (LAND) I Mir -Mt 4 t5 Buyer initials Setter initials Page II of Itl 556 II. ESTOPPEL. STATEMENTS. 557 11.1. Estoppel Statements Conditions. Buyer has the right to review and object to any Estoppel Statements. Seller must 558 request from all tenants of the Property and if received by Seller, deliver to Buyer on or before Estoppel Statements Deadline, 559 statements in a form and substance reasonably acceptable to Buyer, from each occupant or tenant at the Property (Estoppel Statement) 560 attached to a copy of the Lease suiting: 561 11.1.1. The commencement date of the Lease and scheduled termination date of the Lease; 562 11.1.2. That said Lease is in full force and effect and that there have been no subsequent modifications or 563 amendments:; 564 11.1.3. The amount of any advance rentals paid, rent concessions given and deposits paid to Seller; 565 1(1.4. The amount of monthly (or other applicable period) rental paid to Seller; 566 11,1.5. That there is no default under the terms of said Lease by landlord or occupant: and 567 11.1.6. That the Lease to which the Estoppel Statement is attached is a true, correct and complete copy of the Lease 568 demising the premises it describes. 569 11.2 Seller Estoppel Statement. in the event Seller does not receive from all tenants of the Property a completed signed 570 Estoppel Statement, Seller agrees to complete and execute an Estoppel Statement setting forth the information and documents 571 required 3 11,1 above and deliver the same to Buyer on or before Estoppel Statements Deadline. 572 11.3. Estoppel Statements Termination. Buyer has the Right to Terminate under § 25.1, on or before Estoppel 573 Statements Termination Deadline, based on any unsatisfactory Estoppel Statement, in Buyer's sole subjective discretion, or if 574 Seller fails to deliver the Estoppel Statements onor before Estoppel Statements Deadline. Buyer also has the unilateral right to 575 waive any unsatisfactory Estoppel Statement. 376 CLOSING PROVISIONS 577 12. CLOSING DOCUMENTS, INSTRUCTIONS AND CLOSING. 578 12.1. Closing Documents and Closing information. Seller and Buyer will cooperate with the Closing Company to enable 579 the Closing Company to prepare and deliver documents required for Closing to Buyer and Seller and their designees. Ef Buyer is 580 obtaining a loan to purchase the Property, Buyer acknowledges Buyer's lender is required to provide the Closing Company, in a 581 timely manner, all required loan documents and financial information concerning Buyer's loan. Buyer and Seller will furnish any 582 additional information and documents required by Closing Company that will be necessary to complete this transaction. Buyer and 583 Seller will sign and complete all customary or reasonably -required documents at or before Closing. 584 12.2. Closing Instructions. Colorado Real Estate Commission's Closing Instructions ❑ Are 0 Are Not executed with 585 this Contract. 586 123. Closing. Delivery of deed from Seller to Buyer will be at closing (Closing). Closing will be on the date specified as 587 the Closing Date or by mutual agreement at an earlier date. The hour and place of Closing will by as designated by 588 Seller. 589 12.4. Disclosure of Settlement Costs. Buyer and Seller acknowledge that costs. quality and extent of service vary between 590 different settlement service providers (e.g., attorneys. lenders, inspectors and title companies). 591 13. TRANSFER OF T'IT'LE. Subject to Buyer's compliance with the terms and provisions of this Contract, including the tender 592 of any payment due at Closing, Seller must execute and deliver the following good and sufficient deed to Buyer, at Closing: 593 rg special warranty deed ❑ general warranty deed ❑ bargain and sale deed ❑ quit claim deed O personal representative's 594 deed ❑ N/A deed. Seller, provided another deed is not selected, must execute and deliver a good 595 and sufficient special warranty deed to Buyer, at Closing. 596 Unless otherwise specified in § 30 (Additional Provisions), if title will be conveyed using a special warranty deed or a general 597 warranty deed, title will be conveyed "subject to statutory exceptions" as defined in § 38-30-113(5)(a), C.R.S. 598 14. PAYMENT OF LIENS AND ENCUMBRANCES. Unless agreed to by Buyer in writing, any amounts owed on any liens 599 or encumbrances securing a monetary sum, including, but not limited to, any governmental liens for special improvements installed 600 as of the date of Buyer's signature hereon, whether assessed or not and previous years' taxes, will be paid at or before Closing by 601 Seller from the proceeds of this transaction or from any other source. 602 15. CLOSING COSTS, CLOSING FEE, ASSOCIATION FEES AND TAXES. 603 15.1. Closing Costs. Buyer and Seller must pay, in Good Funds, their respective closing costs and all other items required 604 to be paid at Closing, except as otherwise provided herein. 605 15.2. Closing Services Fee. The fee for real estate closing services must be paid at Closing by ❑ Buyer O Seller 606 0 One -Half by Buyer and One -Half by Seller ❑ Other NJA. C11S4-5-19. CONTRACT TO BUY AND SELL REA1. ESTATE (LAND) 1 (/112019 7:45 Page 12 nr 18 Buyer initlxl3 Seller luttlats ')t 607 15.3. Status Letter and Record Change Fees. At least fourteen days prior to Closing Date, Seller agrees to promptly 608 request the Association to deliver to Buyer a current Status Letter. Any fees incident to the issuance of Association's Status Letter 609 must be paid by _x; None ❑ Buyer ❑ Seller ❑ One -Half by Buyer and One -Half by Seller. Any Record Change Fee must 610 be paid by None iJ Buyer ❑ Seller 0 One -Half by Buyer and One-half by Seller. 611 15.4. Local Transfer Tax. ❑ The Local Transfer Tax of N/A % of the Purchase Price must be paid at Closing by 612 N` None ❑ Buyer 0 Seller El One -Half by Buyer and One -Half by Seller. 613 15.5. Private Transfer Fee. Private transfer fees and other fees due to a transfer of the Property, payable at Closing, such 614 us community association fees, developer fees and foundation fees, must be paid at Closing by None ❑ Buyer ❑ Seller 615 ❑ One -Half by Buyer and One -Half by Seller, The Private Transfer fee. whether one or more, is for the following association(s): 616 N.' . in the total amount of N/A 4//1 of the Purchase Price or S 617 15.6. Water Transfer Fees. The Water Transfer Fees can change. The fees, as of the date of this Contract, do not exceed 618 S N/A for: 619 ❑ Water Stock/Ccrtiticatcs ❑ Water District 620 0 Augmentation Membership ❑ Small Domestic Water Company LJ v./A 621 and must be paid at Closing by NI None El Buyer ❑ Seller ❑ One -Half by Buyer and One -Half by Seller. 622 15.7. Sales and Use Tax. Any sales and use tax that may accrue because of this transaction must be paid when due by i 623 None ❑ Buyer ❑ Seller ❑ One -Half by Buyer and One -Half by Seller. 624 15.8. FIRPTA and Colorado Withholding. 625 15.8.I. FIRPTA. The Internal Revenue Service (IRS) may require a substantial portion of the Seller's proceeds be 626 withheld after Closing when Seller is a foreign person. If required withholding does not occur, the Buyer could be held liable for the 627 amount of the Seller's tax, interest and penalties. If the box in this Section is checked, Seller represents that Seller ❑ IS a foreign 628 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 629 person for purposes of U.S. income taxation. Seller agrees to cooperate with Buyer and Closing Company to provide any reasonably 630 requested documents to verify Seller's foreign person status. If withholding is required, Seller authorizes Closing Company to 631 withhold such amount from Seller's proceeds. Seller should inquire with Seller's tax advisor to determine if withholding applies or 632 if an exemption exists_ 633 15.8.2. Colorado Withholding. The Colorado Department of Revenue may require a. portion of the Seller's proceeds 634 be withheld after Closing when Seiler will not be a Colorado resident after Closing, if not otherwise exempt. Seller agrees to 635 cooperate with Buyer and Closing Company to -provide any reasonably requested documents to verify Seller's status. if withholding 636 is required, Seller authorizes Closing Company to withhold such amount front Seller's proceeds. Seller should inquire with Seller's 637 tax advisor to determine if withholding applies or if an exemption exists. 638 16. PRORATIONS AND ASSOCIATION ASSESSMENTS. The following will be prorated to the Closing Date, except as 639 otherwise provided: 640 16.1. Taxes. Personal property taxes. if any, special taxing district assessments, if any and general real estate taxes for the 641 year of Closing, based. on ❑ Taxes for the Calendar Year Immediately Preceding Closing Most Recent Mill Levy and Most 642 Recent Assessed Valuation, ❑ Other tv/A. 643 16.2. Rents. Rents based on ❑ Rents Actually Received ❑ Accrued. At Closing, Seller will transfer or credit to Buyer 644 the security deposits for all Leases assigned, or any remainder after lawful deductions and notify all tenants in writing of such transfer 645 and of the transferee's name and address. Seller must assign to Buyer all Leases in effect at Closing and Buyer must assume Seller's 646 obligations under such Leases. 647 16.3. Association Assessments. Current regular Association assessments and dues (Association Assessments) paid in 648 advance will be credited to Seller at Closing. Cash reserves held out of the regular Association Assessments for deferred maintenance 649 by the Association will not be credited to Seller except as may be otherwise provided by the Governing Documents. Buyer 6511 acknowledges that Bayer may be obligated to pay the Association, at Closing, an amount for reserves or working capital. Any special 651 assessment assessed prior to Closing Date by the Association will be the obligation of 0 Buyer ❑ Seller. Except however, any 652 special assessment by the Association for improvements that have been installed as of the date of Buyer's signature hereon, whether 653 assessed prior to or after Closing, will be the obligation of Seller. Seller represents there are no unpaid regular or special assessments 654 against the Property except the current regular assessments and .y'rA. Association Assessments 655 are subject to change as provided in the Governing Documents. 656 16.4. Other Prorations. Water and sewer charges, propane, interest on continuing loan, and 657 165. Final Settlement. Unless otherwise agreed in writing, these prora.tions are final. 658 17. POSSESSION. Possession of the Property will be delivered to Buyer on Possession Date at Possession Time, subject to the 659 Leases as set forth in § 10.6.1.7. 660 If Seller, after Closing, fails to deliver possession as specified, Seller will he subject to eviction and will be additionally liable CBS,l-5-t9. CONTRACT TO BUY ANt) SELL REAL ESTATE (LANDt I Ir12r241't 7:4S Buyer initials Seller initials Page 13 ur 1s 661 to Buyer for payment of $ 250.00 per day (or any part of a day notwithstanding * 18.1) from Possession Date and 662 Possession lime until possession is delivered. 663 GENERAL PROVISIONS 664 18. DAY; COMPUTATION OF PERIOD OF DAYS, DEADLINE. 665 18,1. Day. As used in this Contract, the term "day" means the entire day ending at [1:59 p.m., United States Mountain Time 666 (Standard or Daylight Savings, as applicable). 667 18.2. Computation of Period of Days, Deadline. In computing a period of days (e.g., three days after MEC), when the 668 ending date is not specified, the first day is excluded and the last day is included. If any deadline falls on a Saturday, Sunday or 669 federal or Colorado state holiday (Holiday), such deadline 0 Will E Will Not be extended to the next day that is not a Saturday, 670 Sunday or Holiday. Should neither box be checked, the deadline will not be extended. 671 19. CAUSES OF LOSS, INSURANCE; DAMAGE TO INCLUSIONS AND SERVICES; CONDEMNATION; AND 672 WALK-THROUGH, Except as otherwise provided in this Contract, the Property, Inclusions or both will be delivered in the 673 condition existing as of the date of this Contract, ordinary wear and tear excepted. 674 19.1. Causes of Lulls, Insurance. in the event the Property or Inclusions are damaged by fire. other perils or causes of loss 675 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 676 damage will be paid by insurance (other than the deductible to be paid by Seller), then Seller, upon receipt of the insurance proceeds, 677 will use Seller's reasonable efforts to repair the Property before Closing Date. Buyer has the Right to Terminate under § 25.1, on or 678 before Closing Date, if the Property is not repaired before Closing Date, or if the damage exceeds such sum. Should Buyer elect to 679 carry out this Contract despite such Property Damage. Buyer is entitled to a credit at Closing for all insurance proceeds that were. 680 received by Seller (but not the Association, if any) resulting from damage to the Property and Inclusions, plus the amount of any 681 deductible provided for in the insurance policy. This credit may not exceed the Purchase Price. In the event Seller has not received 682 the insurance proceeds prior to Closing, the parties may agree to extend the Closing Date to have the Property repaired prior to 683 Closing or, at the option of Buyer, (I) Seller must assign to Buyer the right to the proceeds at Closing, if acceptable to Seller's 684 insurance cutupany and Buyer's lender: or (2) the parties may enter into a written agreement prepared by the parties or their attorney 685 requiring the Seller to escrow at Closing from Seller's sale proceeds the amount Seller has received and will receive due to such 686 damage. not exceeding the total Purchase Price, plus the amount of any deductible that applies to the insurance claim. 687 19.2, Damage, Inclusions and Services. Should any Inclusion or service (including utilities and communication services), 688 system, component or fixture of the Property (collectively Service) (e,g., heating or plumbing), fail or he damaged between the, date 689 of this Contract and Closing or possession, whichever is earlier, then Seller is liable for the repair or replacement of such Inclusion 690 or Service with a unit of similar size, age and quality, or an equivalent credit, but only to the extent that the maintenance or 691 replacement of such Inclusion or Service is not the responsibility of the Association, if any, less any insurance proceeds received by 692 Buyer covering such repair or replacement. If the failed or damaged Inclusion or Service is not repaired or replaced on or before 693 Closing or possession, whichever is earlier, Buyer has the Right to Terminate under § 25.1, on or before Closing Date, or, at the 694 option of Buyer, Buyer is entitled to a credit at Closing for the repair or replacement of such Inclusion or Service. Such credit must 695 not exceed the Purchase Price. If Buyer receives such a credit, Seller's right for any claim against the Association, if any, will survive 696 Closing. 697 19.3, Condemnation. In the event Seller receives actual notice prior to Closing that a pending condemnation action may 698 result in a taking of all or part of the Property or Inclusions, Seller must promptly notify Buyer, in writing, of such condemnation 699 action. Buyer has the Right to Terminate under § 25.1, on or before Closing Date, based on such condemnation action, in Buyer's 700 sole subjective discretion. Should Buyer elect to consummate this Contract despite such diminution of value to the Property and 701 Inclusions, Buyer is entitled to a credit at Closing for all condemnation proceeds awarded to Seller for the diminution in the value 702 of die Property or Inclusions but such credit will not include relocation benefits or expenses, or exceed the Purchase Price. 703 19.4. Walk -Through and Verification of Condition. Buyer, upon reasonable notice, has the right to walk through the 704 Property prior to Closing to verify that the physical condition of the Property and Inclusions complies with this Contract. 705 19,5, Home Warranty. (Intentionally Deleted) 706 t9,6. Risk of Loss — Growing Crops. The risk of loss for damage to growing crops by tire or other casualty will be borne 707 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 708 the growing crops. 709 20. RECOMMENDATION OF LEGAL AND TAX COUNSEL. By signing this Contract, Buyer and Seller acknowledge that 710 the respective broker has advised that this Contract has important legal consequences and has recommended the examination of title 71 l and consultation with legal and tax or other counsel before signing this Contract. 712 21. TIME OF ESSENCE, DEFAULT AND REMEDIES. Time is of the essence for all dates and deadlines in this 713 Contract. This means that all dates and deadlines are strict and absolute, If any payment due, including Earnest Money, is not paid, CBS4 S -IS. CONTRACT TO BUY AND VET L REAL ESTATE (LAND) I 11122019'7:45 Buyer initials Seller initials _ Page 14 of is 714 honored or tendered when due, or if any obligation is notperforrned timely as provided in this Contract or waived, the non -defaulting 715 party has the following remedies; 716 21.1. If Buyer is in Default: 717 ❑ 21.1.1. Specific Performance. Seller may elect to cancel this Contract and all Earnest Money (whether or not paid 718 by Buyer) win be paid to Seller and retained by Seller. it is agreed that the Earnest Money is not a penalty and the Parties agree the 719 amount is fair and reasonable, Seller may recover such additional damages as may be proper, Alternatively, Seller may elect to 720 treat this Contract as being in full force and effect and Seller has the right to specific performance, or damages, or both. 721 21.1.2. Liquidated Damages, Apgl€cable. This *21.1.2 applies unless the box in § 21.1.1, is checked. Seller may 722 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 723 the Earnest Money specified in § 4.1 is LIQUIDATED DAMAGES and not a penalty, which amount the parties agree is fair and 724 reasonable and (except as provided in §§ 10.4, 22, 23 and 24), said payment of Earnest Money is SELLER'S ONLY REMEDY for 725 Buyer's failure to perform the obligations of this Contract. Seller expressly waives the remedies of specific performance and 726 additional damages. 727 2L2, If Seller is in Default: Buyer may elect to treat this Contract as canceled, in which case all Earnest Money received 728 hereunder will be returned to Buyer and Buyer may recover such damages as may be proper. Alternatively. Buyer may elect to treat 729 this Contract as being in full force and effect and Buyer has the right to specific performance, or damages, or both. 730 22. LEGAL FEES, COST AND EXPENSES. Anything to the contrary herein notwithstanding, in the event of any arbitration 731 or litigation relating to this Contract, prior to or after Closing Date, the arbitrator or court must award to the prevailing party all 732 reasonable costs and expenses, including attorney fees, legal fees and expenses. 733 23. MEDIATION, If a dispute arises relating to this Contract (whether prior to or after Closing) and is not resolved, the parties 734 must first proceed, in good faith, to mediation. Mediation is a process in which the parties meet with an impartial person who helps 735 to resolve the dispute informally and confidentially, Mediators cannot impose binding decisions. Before any mediated settlement is 736 binding, the parties to the dispute must agree. to the settlemenr, in writing. The parties will jointly appoint an acceptable mediator 737 and will share equally in the cost. of such mediation, The obligation to mediate, unless otherwise agreed, will terminate if the entire. 738 dispute is not resolved within thirty days of the date written notice requesting mediation is delivered by one party to the other at that 739 party's last known address (physical or electronic as provided in § 27). Nothing in this Section prohibits either party from filing a 740 lawsuit and recording a tis perrdens affecting the Property, before or after the date of written notice requesting mediation. This 741 Section will not alter any date in this Contract, unless otherwise agreed. 742 24. EARNEST MONEY DISPUTE. Except as otherwise provided herein. Earnest Money Holder must release the Earnest 743 Money following receipt of written mutual instructions, signed by both Buyer end Seller. In the event of any controversy regarding 744 the Earnest Money, Earnest Money Holder is not required to release the Earnest Money. Earnest Money Holder, in its sole subjective 745 discretion, has several options: (1) wait for any proceeding between Buyer and Seller; (2) interplead ail parties and deposit Earnest 746 Money into a court of competent jurisdiction (Earnest Money Holder is entitled to recover court costs and reasonable attorney and 747 legal fees incurred with such action); or (3) provide notice to Buyer and Seller that unless Earnest Money Holder receives a copy of 748 the Summons and Complaint or Claim (between Buyer and Seller) containing the case number of the lawsuit (Lawsuit) within one 749 hundred twenty days of Earnest Money Holder's notice to the parties, Earnest Money Holder is authorized to return the Earnest 750 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 75 I of any Order, Earnest Money Holder must disburse the Earnest Money pursuant to the Order of the Court. The parties reaffirm the 752 obligation of § 23 (Mediation). This Section will survive cancellation or termination of this Contract. 753 25. TERMINATION, 754 25.1. Right to Terminate. If a party has a right to terminate, as provided in this Contract (Right to Terminate), the 755 termination is effective upon the other party's receipt of a written notice to terminate (Notice to Terminate), provided such written 756 notice was received on or before the applicable deadline specified in this Contract. It' the Notice to Terminate is not received on or 757 before the specified deadline, the party with the Right to Terminate accepts the specified matter, document or condition as satisfactory 758 and waives the Right to Terminate under such provision. 759 25.2. Effect of Termination. In the event this Contract is terminated, all Earnest Money received hereunder will be returned 760 to Buyer and the parties are relieved of all obligations hereunder, subject to §§ 10,4, 22, 23 and 24. 761 26. ENTIRE AGREEMENT, MODIFICATION, SURVIVAL; SUCCESSORS. This Contract, its exhibits and specified 762 addenda, constitute the entire agreement between the parties relating to the subject hereof and any prior agreements pertaining 763 thereto, whether oral or written, have been merged and integrated into this Contract. No subsequent modification of any of the terms 764 of this Contract is valid, binding upon the parties, or enforceable unless made in writing and signed by the parties. Any right or 765 obligation in this Contract that, by its terms, exists or is intended to be performed after termination or Closing survives the same. 766 Any successor to a party receives the predecessor's benefits and obligations of this Contract, CBS4•5•t9. CONTRACT TO BUY AND SELL HEAL ESTATE {LAND) i I/12/20'97:45 Buyer initials Seller Initials P*ge 15 of 18 767 27. NOTICE, DELIVERY AND CHOICE OF LAW. 768 27.1. Physical Delivery and Notice. Any document, or notice to Buyer or Seller must be in writing, except as provided in 769 § 27.2 and is effective when physically received by such party, any individual named in this Contract to receive documents or notices 770 for such party, 13roker, or Brokerage Firm of Broker working with such party (except any notice or delivery after Closing must be 771 received by the party, not Broker or Brokerage Firm). 772 27.2, Electronic Notice. As an alternative to physical delivery, any notice, may be delivered in electronic form to Buyer or 773 Seller, any individual named in this Contract to receive documents or notices for such party, Broker or Brokerage Firm of Broker 774 working with such party (except any notice or delivery after Closing must be received by the party, not Broker or Brokerage Firm) 775 at the electronic address of the recipient by facsimile, email or .tv/A. 776 27.3. Electronic Delivery. Electronic Delivery of documents and notice may be delivered by: (1) email at the email address 777 of the recipient, (2) a link or access to a website or server provided the recipient receives the information necessary to access the 778 documents, or (3) facsimile at the facsimile number (Fax No.) of the recipient. 779 27.4. Choice of Law. This Contract and all disputes arising hereunder are governed by and construed in accordance with 780 the laws of the State of Colorado that would be applicable to Colorado residents who sign a contract in Colorado for real property 781 located in Colorado. 782 28. NOTICE OF' ACCEPTANCE, COUNTERPARTS. This proposal will expire unless accepted in writing, by Buyer and 783 Seller, as evidenced by their signatures below and the offering party receives notice of sucb acceptance pursuant to 4 27 on or before 7134 Acceptance Deadline Date and Acceptance Deadline Time. If accepted, this document will become a contract between Seller and 785 Buyer. A copy of this Contract may be executed by each party, separately and when each party has executed a copy thereof, such 786 copies taken together are deemed to be a full and complete contract between the parties. 787 29. GOOD FAITH. Buyer and Seller acknowledge that each party has an obligation to act in good faith including, but not limited 788 to, exercising the rights and obligations set forth in the provisions of Financing Conditions and Obligations; Title Insurance, 789 Record Title and Off -Record Title; New ILC, New Survey; and Property Disclosure, Inspection, Indemnity, Insurability, Due 790 Diligence, and Source of Water. 791 ADDITIONAL PROVISIONS AND ATTACHMENTS 792 30. ADDITIONAL PROVISIONS. (The following additional provisions have not been approved by the Colorado Real Estate 793 Commission.) 794 .v/A 795 796 797 798 799 31, OTHER DOCUMENTS. 800 31.1. The following documents are a part of this Contract: 801 =a,(':. 802 803 804 31.2. The following documents have been provided but are not a part of this Contract: 805 N✓it 806 807 808 809 SIGNATURES Buyer's Name: iyt 1 d Cc;ct, ..) Bq� S . _+, ;,.: - ,: _. _ >- Date iJ ytr's Signature ..FiE gj9il„ 1"K: Ili N.;;'r .....: .. .." 'T( ... i:,'_ •..;.- CBS4-5-19. CONTRACT TO BUY AND SELL REAL ESTATE (LAND) 11(12i-2019 7:45 Buyer innlats Seiler iniliela Page 16 of IS Address: Phone No,: Fax No,; Email Address: N/A N/A N/A N/A N/A 810 (NOTE: tr this offer is being countered or rejected, do not sign this document.] 811 Seller's Name: aika G ono Seller Signature Mice 0 malaria Address: 56008 CR23 Carr, CO t3O62 Phone No.: Nf Fax No.: ./x/_A Email Address: N/# /0,141 END OF CONTRACT TO BUY AND SELL REAL ESTATE 32. BROKER'S ACKNOWLEDGMENTS AND COMPENSATION DISCLOSURE. (To be completed by Broker working with Buyer) Broker ❑ Does (.I Does Not acknowledge receipt of Earnest Money deposit. Broker agrees that if Brokerage Firm is the Earnest Money Holder and, except as provided in § 24, lithe 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. Although Broker is not a party to the Contract, Broker agrees to cooperate, upon request, with any mediation requested under § 23. Broker is working with Buyer as a Cl Buyer's Agent Ix Transaction -Broker in this transaction. D This is a Change of Status. Customer. Broker has no brokerage relationship with Buyer. See § 33 for Broker's brokerage relationship with Seller. Brokerage Firm's compensation or commission is to be paid by V Listing Brokerage Firm El Buyer ❑ Other hi/A . Brokerage Firm's Name: Brokerage Firm's License #: Broker's Name: Broker's License #: A; tat:0 r . 000016970 OlazF.:itt irk !t''• PA.. .l 2U:27 .2$ . ---'tTocwSi9ned ay: F3aaFCFCewss Broker's Signature: 11/12/2019 112:33 PM MST Date CRS4-5.19, CONTRACT TO BUY AND SELL REAL ESTATE (LAND) 11/12/2019 7:45 Buyer initials Seller initials Page 17 of Address: Phone No.: Fax No.: Email Address: 2021 Clubhouse Jr Ste 100 Geeley, CO 80634 (970)330-7700 (9701,330-47456 F•.,.r' itR I.,(1 a t'.4 33. BROKER'S ACKNOWLEDGMENTS ANT) COMPENSATION DISCLOSURE. (To be completed by Broker working with Seller) Broker ❑ Does U.Does Not acknowledge receipt of Earnest Money deposit. Broker agrees that if Brokerage Firm is the Earnest Money Holder and, except as provided in § 24, 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. Although Broker is not a party to the Contract, Broker agrees to cooperate, upon request, with any mediation requested under § 23. Broker is working with Seller as a ❑ Seller's Agent li's Transaction -Broker in this transaction. ❑ This is a Change of Status. ❑ Customer. Broker has no brokerage relationship with Seller. See § 32 for Broker's brokerage relationship with Buyer. Brokerage Firm's compensation or commission is to be paid by X Seiler ❑ Buyer ❑ Other NIt . Brokerage Firm's Name: S:su.ra_e Re.a2 ty Brokerage Firm's License #: T .:. 00070891 Broker's Nante: O11 v' . Ca:4h Broker's License #: z u Address: Phone No.: Fax No.: Email Address: 812 (Broker's Signatu Date 847.0 } t 35th. Ave r±e_ey: CO 80 C31 .'3 , : lit-_:,., s CBS4-5-19. CONTRACT TO BUY AND SELL REAL ESTATE (LANDI It/12)201S 7 45 Buyer initials Seller inititla Pape 18 of 18 and Title Guarantee Company Mail - Can 80 acres https://mail.google.com/mail/u/0?ik=e76403a31c&view=pt&searc... land Title GLIARAN l i CC)MMl'A\Y Amy McCloskey <amccloskey@Itgc.com> Carr 80 acres 1 message Olivia Cain <olivia@acresr.com> To: Jamison Walsh <jamison@searsrealestate.com> Cc: Amy McCloskey <amccloskey@Itgc.com> Jamison, Thu, Nov 14, 2019 at 11:31 AM Please find attached the signed copy of the purchase agreement between Mike Malone and Weld County. Please have Commissioner Kirkmeyer initial lines 295 and 405 as we previously discussed. I have copied the closing processor Amy McCloskey on this as well. If you need additional people listed in the title distribution, please send those to her. Also attached are the closing instructions for signatures. Thank you, Olivia Cain, Broker 2478 N. 35th Avenue ACRE SOURCE Greeley CO 80631 Phone: 303.898.0577 www.acresr.com 3 attachments ACRE S E image001.png 39K of 2 11/14/2019, 1:03 PM and Title Guarantee Company Mail - Carr 80 acres https://mail.google.com/mail/u/0?ik=e76403a31c&view=pt&searc... Malone_Weld County PSA.pdf 6449K Closing Instr. Malone.pdf 1114K of 2 11/14/2019, 1:03 PM 1 ACRE SOURCE Acre Source Realty Olivia Cain Ph: 303.898.0577 The printed portions of this form, except differentiated additions, have been approved by the Colorado Real Estate Commission (SWA35-8-10) (Mandatory 1-11) 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 SOURCE OF WATER ADDENDUM TO CONTRACT TO BUY AND SELL REAL ESTATE Date: 11/20/2019 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 11/12/2019 (Contract), for the purchase and sale of the Property known as No. 13 0 County Road 23, Carr, CO 80612 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 0 2.1 The Property's source of water is a Well. Well Permit #: 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 31 for the Property is [describe source]: 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 Age Miewe Date: 11/21/2019 Seller: Mike G. Malone 39 40 Seller: Date: 41 42 43 Date: Buyer: Barbara Kirkmeyer, Chair, Weld County Board of Commissioners SWA35-8-10. CA1142serli t\ 127/19 SOURCE OF WATER ADDENDUM TO CONTRACT TO BUY AND SELL REAL ESTATE Page 1 of 2 86- Crr/s) Jai/, dot 9- `181 PROO3Co CTMeContracts.com - ©2019 CTM Software Corp. 44 45 Buyer: 46 Date: ii/Z-49 j SWA35-8-10. SOURCE OF WATER ADDENDUM TO CONTRACT TO BUY AND SELL REAL ESTATE. CTM eContracts - ®2016 CTM Software Corp. SWA35-8-10. SOURCE OF WATER ADDENDUM TO CONTRACT TO BUY AND SELL REAL ESTATE Page 2 of 2 CTMeContracts.com - ©2019 CTM Software Corp. RESOLUTION RE: APPROVE CONTRACT TO BUY AND SELL REAL ESTATE (0 CR 23, CARR) AND AUTHORIZE CHAIR PRO-TEM 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 regarding land being more particularly described as follows: 0 CR 23, Carr; being further described as part of the N1/2 SW1/4 of Section 12, Township 10 North, Range 67 West of the 6th P.M., Weld County, Colorado ("the Property"), and WHEREAS, the purchase of the Property, for the sum of $160,000.00, is desirable for the use by the Weld County Sheriff's Office, and WHEREAS, after review, the Board deems it advisable to approve said contract, a copy of which is 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 regarding land as described above, be, and hereby is, approved. BE IT FURTHER RESOLVED by the Board that the Chair Pro-Tem be, and hereby is, authorized to sign all necessary documents to close said purchase. c -c- . cpc-r-- /SG) a/Ii/I`I 2019-4789 PR0036 APPROVE CONTRACT TO BUY AND SELL REAL ESTATE (0 CR 23, CARR) PAGE 2 The above and foregoing Resolution was, on motion duly made and seconded, adopted by the following vote on the 18th day of November, A.D., 2019. BOARD OF COUNTY COMMISSIONERS WELD COUNTY, COLORADO ATTEST: ditAt/1) jd4;ok EXCUSED Barbara Kirkmeyer, Chair Weld County Clerk to the Board BY: Deputy Clerk to the Board APPROVED AS TO FORM County Attorney Date of signature: II/2-7 teve Moreno 2019-4789 PR0036 28 known as No. Street Address 8 9 10 11 12 13 Sears Real Estate 2021 Clubhouse Drive Suite 100 Greeley, CO 80634 Phone: (970)330-7700 Fax: (970)330-4766 www.searsrealestate.com IThe printed portions of this form, except differentiated additions, have been approved by the Colorado Real Estate Commission. 2 + (CBS4-5-19) (Mandatory 7-19) 3 4 THIS FORM HAS IMPORTANT LEGAL CONSEQUENCES AND THE PARTIES SHOULD CONSULT LEGAL AND TAX OR 5 OTHER COUNSEL BEFORE SIGNING. 6 7 CONTRACT TO BUY AND SELL REAL ESTATE (LAND) ( J Property with No Residences) ( ❑ Property with Residences -Residential Addendum Attached) AGREEMENT Date: November 12, 2019 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. Weld County, (Buyer) will take title 18 to the Property described below as ❑ Joint 1>crrants ❑ Tenants In Common X 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. Nike G Malone (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 Meld, Colorado: 23 North 1/2 of the Southwest 1/4, Section I2, Township 10 North, Range 67 West of the 6th PM 24 25 26 27 0 County Road 33 Carr CO 80612 City State Zip 29 30 together with the interests, easements, rights. benefits, improvements and attached fixtures appurtenant thereto and all interest of 31 Seller in vacated streets and alleys adjacent thereto, except as herein excluded (Property). 32 2.5. Inclusions. The Purchase Price includes the following items (Inclusions): 33 2.3.1. Inclusions. The following items, whether fixtures or personal property. are included in the Purchase Price 34 unless excluded under Exclusions: 35 N/A 36 37 38 If any additional items are attached to the Property after the date of this Contract, such additional items are also included in the 39 Purchase Price. 40 25.2. Personal Property - Conveyance. Any personal property must be conveyed at Closing by Seller free and 4 1 clear of all taxes (except personal property taxes for the year of Closing). liens and encumbrances, except N/A. 42 Conveyance of all personal property will be by bill of sale or other applicable legal instrument. 43 2.6. Exclusions. The following items are excluded (Exclusions): CBS4-5-t9. CONTRACT TO BUY AND SELL REAL ESTATE (LAND) I I/I 2/20 19 7:43 Buyer initials Seiler initials Page lot It 2019-4789 44 Excepting and reserving unto Seller all minerals and mineral rights associated with or appurtenant to the Property for the benefit of Seller and its heirs, excluding rights to rock, sand and gravel minerals that can be maned on the Property. This reservation shall be included on the Special Warranty Deed 45 46 47 2.7. Water Rights, Well Rights, Water and Sewer Taps. 48 ❑ 2.7.1. Deeded Water Rights. The following legally described water rights: 49 N/A 50 51 52 Any deeded water rights will he conveyed by a good and sufficient N/A deed at Closing. 53 ❑ 2.7.2. Other Rights Relating to Water. The following rights relating to water not included in §§2.7.1, 2.7.3. 2.7.4 54 and 2.7.5. will be transferred to Buyer at Closing: 55 N/A 56 57 58 ❑ 2.73. Well Rights. Seller agrees to supply required information to Buyer about the well. Buyer understands that if 59 the well to be transferred is a "Small Capacity Well" or a "Domestic Exempt Water Well" used for ordinary household purposes, 60 Buyer must, prior to or at Closing, complete a Change in Ownership form for the well. If an existing well has not been registered 61 with the Colorado Division of Water Resources in the Department of Natural Resources (Division), Buyer must complete a 62 registration of existing well form for the well and pay the cost of registration. If no person will be providing a closing service in 63 connection with the transaction. Buyer must file the form with the Division within sixty days after Closing. The Well Permit # is 64 N/A 65 ❑ 2.7.4. Water Stock Certificates. The water stock certificates to be transferred at Closing are as follows: 66 N/A 67 68 69 2.7.5. Water and Sewer Taps. The parties agree that water and sewer taps listed below for the Property are being 70 conveyed as part of the Purchase Price as follows: 71 N/A 72 73 74 If any water or sewer taps are included in the sale, Buyer is advised to obtain, from the provider, written confirmation of 75 the amount remaining to be paid, if any, time and other restrictions for transfer and use of the taps. 76 2.7.6. Conveyance. If Buyer is to receive any rights to water pursuant to § 2.7.2 (Other Rights Relating to Water), 77 § 2.7.3 (Well Rights), § 2.7.4 (Water Stock Certificates), or § 2.7.5 (Water and Sewer Taps), Seller agrees to convey such rights to 78 Buyer by executing the applicable legal instrument at Closing. 79 2.8. Growing Crops. With respect to growing crops, Seller and Buyer agree as follows: 80 N/A 81 82 83 3. DATES, DEADLINES AND APPLICABILITY. 84 3.1. Dates and Deadlines. Item No. Reference Event Date or Deadline !_ § 4.3 Alternative Earnest Money Deadline P1FC + 3 Business Days Title 2 § 8.1, § 8.4 Record Title Deadline November 19, 2019 3 §8.2,§8.4 Record Title Objection Deadline November 21, 2019 4 § 8.3 Off -Record Title Deadline November 19, 2019 5 § 8.3 Off -Record Title Objection Deadline November 21, 2019 CBS4.5-19. CONTRACT TO BIIY AND SELL REAL ESTATE (LAND) 1 1/1 21201 9 7:45 Buyer initials Seller initials Pane 2of111 6 § 8.5 Title Resolution Deadline November 22, 2019 7 § 8.6 Right of First Refusal Deadline N/A Owners' Association 8 § 7.2 Association Documents Deadline N/A 9 § 7.4 Association Documents Termination Deadline N/A Seller's Disclosures 10 § 10.1 Seller's Property Disclosure Deadline N/A 11 § 10.10 Lead -Based Paint Disclosure Deadline (if Residential Addendum attached) N/A Loan and Credit 12 § 5.1 New Loan Application Deadline N/A 13 § 5.2 New Loan Termination Deadline N/A 14 § 5.3 Buyer's Credit Information Deadline N/A 15 § 5.3 Disapproval of Buyer's Credit Information Deadline N/A 16 § 5.4 Existing Loan Deadline N/A 17 § 5.4 Existing Loan Termination Deadline N/A 18 § 5.4 Loan Transfer Approval Deadline N/A 19 § 4.7 Seller or Private Financing Deadline N/A Appraisal 20 § 6.2 Appraisal Deadline N/A 21 § 6.2 Appraisal Objection Deadline N/A 22 § 6.2 Appraisal Resolution Deadline N/A Survey 23 § 9.1 New ILC or New Survey Deadline December 2, 2019 24 § 9.3 New ILC or New Survey Objection Deadline December 4, 2019 25 § 9.3 New ILC or New Survey Resolution Deadline December 6, 2019 Inspection and Due Diligence 26 § 10.3 Inspection Objection Deadline N/A 27 § 10.3 Inspection Termination Deadline N/A 28 § 10.3 Inspection Resolution Deadline N/A 29 § 10.5 Property Insurance Termination Deadline N/A 30 § 10.6 Due Diligence Documents Delivery Deadline December 2, 2019 31 ' § 10.6 Due Diligence Documents Objection Deadline December 4, 2019 32 § 10.6 Due Diligence Documents Resolution Deadline December 6, 2019 33 § 10.6 Environmental Inspection Termination Deadline N/A 34 § 10.6 ADA Evaluation Termination Deadline N/A 35 § 10.7 Conditional Sale Deadline N/A 36 § 10.10 Lead -Based Paint Termination Deadline (if Residential Addendum attached) N/A 37 § 11.1,11.2 Estoppel Statements Deadline N/A L-38 § 11.3 Estoppel Statements Termination Deadline N/A H I Closing and Possession 39 § 12.3 Closing Date December 12, 2019 n41) § 17 Possession Date Dela very of Deed 1 41 § 17 Possession Time Ties of Closing 42 § 28 Acceptance Deadline Date November 14, 2919 43 § 28 Acceptance Deadline Time 5: OOPM N/A N/A N/A N/A N/A N/A 85 3.2. Applicability of Terms. Any box checked in this Contract means the corresponding provision applies. If any deadline 86 blank in § 3.1 (Dates and Deadlines) is left blank or completed with the abbreviation "N/A", or the word "Deleted", such deadline 87 is not applicable and the corresponding provision containing the deadline is deleted. If no box is checked in a provision that contains 88 a selection of "None", such provision means that "None" applies. CBS4-5- 19. CONTRACT TO BUY AND SELL REAL ESTATE (LAND) 11/12/2019 7:45 Buyer initials Seiler initials Page 3 oP t 8 89 The abbreviation "MEC" (mutual execution of this Contract) means the date upon which both parties have signed this Contract. 90 4. PURCHASE PRICE AND TERMS. 91 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 Amount 1 § 4.1 Purchase Price $ 160, 000. 00 2 § 4.3 Earnest Money y $ 2, 400.00 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 $ 157, 600.00 10 TOTAL. $ 160, 000. 00 $ I60, 000. 00 92 4.2. Seller Concession. At Closing, Seller will credit to Buyer $ 0 (Seller Concession). The Seller 93 Concession may be used for any Buyer fee, cost, charge or expenditure to the extent the amount is allowed by the Buyer's lender 94 and is included in the Closing Statement or Closing Disclosure at Closing. Examples of allowable items to be paid for by the Seller 95 Concession include, but are not limited to: Buyer's closing costs, loan discount points, loan origination fees, prepaid items and any 96 other fee, cost, charge, expense or expenditure. Seller Concession is in addition to any sum Seller has agreed to pay or credit Buyer 97 elsewhere in this Contract. 98 4.3. Earnest Money. The Earnest Money set forth in this Section, in the form of a Good Funds, will be 99 payable to and held by Land ratt le Guarantee Company (Earnest Money Holder), in its trust account, on behalf of 100 both Seller and Buyer. The Earnest Money deposit must be tendered, by Buyer, with this Contract unless the parties mutually agree 101 to an Alternative Earnest Money Deadline for its payment. The parties authorize delivery of the Earnest Money deposit to the 102 company conducting the Closing (Closing Company), if any, at or before Closing. In the event Earnest Money Holder has agreed to 103 have interest on Earnest Money deposits transferred to a fund established for the purpose of providing affordable housing to Colorado 104 residents. Seller and Buyer acknowledge and agree that any interest accruing on the Earnest Money deposited with the Earnest 105 Money Holder in this transaction will be transferred to such fund. 106 43.1. Alternative Earnest Money Deadline. The deadline for delivering the Earnest Money, if other than at the 107 time of tender of this Contract, is as set forth as the Alternative Earnest Money Deadline. 108 43.2. Return of Earnest Money. If Buyer has a Right to Terminate and timely terminates, Buyer is entitled to the 109 return of Earnest Money as provided in this Contract. If this Contract is terminated as set forth in § 25 and, except as provided in 110 § 24 (Earnest Money Dispute), if the Earnest Money has not already been returned following receipt of a Notice to Terminate, Seller 11 agrees to execute and return to Buyer or Broker working with Buyer, written mutual instructions (e.g., Earnest Money Release form), 112 within three days of Seller's receipt of such form. I I3 4.4. Form of Funds; Time of Payment; Available Funds. 114 4.4.1. Good Funds. All amounts payable by the parties at Closing, including any loan proceeds, Cash at Closing 115 and closing costs, must be in funds that comply with all applicable Colorado laws, including electronic transfer funds, certified 116 check, savings and loan teller's check and cashier's cheek (Good Funds). 1 1 7 4.4.2. Time of Payment; Available Funds. All funds, including the Purchase Price to be paid by Buyer, must be 118 paid before or at Closing or as otherwise agreed in writing between the parties to allow disbursement by Closing Company at Closing 119 OR SUCH NONPAYING PARTY WILL BE IN DEFAULT. Buyer represents that Buyer, as of the date of this Contract, IgJ Does 120 E' Does Not have funds that are tmmnediately verifiable and available in an amount not less than the amount stated as Cash at Closing 121 in* 4.1. I22 4.5. New Loan. OM.ITIED AS INAPPLICABLE. 133 4.6. Assumption. OMITTED? AS INAPPLICABLE. 146 4.7. Seller or Private Financing. OMITTED AS INAPPLICABLE. 163 TRANSACTION PROVISIONS CBS4-5.19. CONTRACT TO BUY AND SELL REAL ESTATE (LANDI 1 I/12/2019 7:45 Buyer initials Seller initials 164 5. FINANCING CONDITIONS AND OBLIGATIONS. 165 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 166 Loan), or if an existing loan is not to he released at Closing, Buyer, if required by such lender, must make an application verifiable 167 by such lender, on or before New Loan Application Deadline and exercise reasonable efforts to obtain such loan or approval. I68 5.2. New Loan Review. If Buyer is to pay all or part of the Purchase Price with a New Loan, this Contract is conditional 169 upon Buyer determining, in Buyer's sole subjective discretion, whether the New Loan is satisfactory to Buyer, including its 170 availability, payments, interest rate, terms, conditions and cost. This condition is for the sole benefit of Buyer. Buyer has the Right 171 to Terminate under § 25.1, on or before New Loan Termination Deadline, if the New Loan is not satisfactory to Buyer, in Buyer's 172 sole subjective discretion. Buyer does not have a Right to Terminate based on the New Loan if the objection is based on the Appraised 173 Value (defined below) or the Lender Requirements (defined below). IF SELLER IS NOT IN DEFAULT AND DOES NOT 174 TIMELY RECEIVE BUYER'S WRIFFEN NOTICE TO TERMINATE. BUYER'S EARNEST MONEY WILL BE 175 NONREFUNDABLE, except as otherwise provided in this Contract (e.g., Appraisal, Title, Survey). 176 5.3. Credit Information. If an existing loan is not to be released at Closing, this Contract is conditional (for the sole benefit 177 of Seller) upon Seller's approval of Buyer's financial ability and creditworthiness, which approval will be in Seller's sole subjective 178 discretion. Accordingly: (1) Buyer must supply to Seller by Buyer's Credit Information Deadline, at Buyer's expense, information 179 and documents (including a current credit report) concerning Buyer's financial, employment and credit condition; (2) Buyer consents 180 that Seller may verify Buyer's financial ability and creditworthiness; and (3) any such information and documents received by Seller 181 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 182 Closing is less than as set forth in § 4.1 of this Contract, Seller has the Right to Terminate under § 25.1, on or before Closing. If 183 Seller disapproves of Buyer's financial ability or creditworthiness, in Seller's sole subjective discretion. Seller has the Right to 184 Terminate under § 25.1, on or before Disapproval of Buyer's Credit Information Deadline. 185 5.4. Existing Loan Review. If an existing loan is not to be released at Closing, Seller must deliver copies of the loan 186 documents (including note, deed of trust and any modifications) to Buyer by Existing Loan Deadline. For the sole benefit of Buyer, 187 this Contract is conditional upon Buyer's review and approval of the provisions of such loan documents. Buyer has the Right to 188 Terminate under § 25.1, on or before Existing Loan Termination Deadline, based on any unsatisfactory provision of such loan 189 documents, in Buyer's sole subjective discretion. If the lender's approval of a transfer of the Property is required, this Contract is 190 conditional upon Buyer obtaining such approval without change in the terms of such loan, except as set forth in § 4.6. If lender's 191 approval is not obtained by Loan Transfer Approval Deadline, this Contract will terminate on such deadline. Seller has the Right 192 to Terminate under § 25.1, on or before Closing, in Seller's sole subjective discretion, if Seller is to be released from liability under 193 such existing loan and Buyer does not obtain such compliance as set forth in § 4.6. I94 6. APPRAISAL PROVISIONS. 195 6.1. Appraisal Definition. An "Appraisal" is an opinion of value prepared by a licensed or certified appraiser, engaged on 196 behalf of Buyer or Buyer's lender, to determine the Property's market value (Appraised Value). The Appraisal may also set forth 197 certain lender requirements, replacements, removals or repairs necessary on or to the Property as a condition for the Property to be 198 valued at the Appraised Value. 199 6.2. Appraisal Condition. The applicable appraisal provision set forth below applies to the respective loan type set forth 200 in § 4.5.3, or if a cash transaction (i.e. no financing), § 6.2.1 applies. 201 6.2.1. Conventional/Other. Buyer has the right to obtain an Appraisal. If the Appraised Value is less than the 202 Purchase Price, or if the Appraisal is not received by Buyer on or before Appraisal Deadline Buyer may, on or before Appraisal 203 Objection Deadline, notwithstanding § 8.3 or § 13: 204 6.2.1.1. Notice to Terminate. Notify Seller in writing, pursuant to § 25.1, that this Contract is terminated; 205 or 206 6.2.1.2. Appraisal Objection. Deliver to Seller a written objection accompanied by either a copy of the 207 Appraisal or written notice from lender that confirms the Appraised Value is less than the Purchase Price (Lender Verification). 208 6.2.1.3. Appraisal Resolution. If an Appraisal Objection is received by Seller, on or before Appraisal 209 Objection Deadline and if Buyer and Seller have not agreed in writing to a settlement thereof on or before Appraisal Resolution 210 Deadline, this Contract will terminate on the Appraisal Resolution Deadline, unless Seiler receives Buyer's written withdrawal of 2I 1 the Appraisal Objection before such termination, i.e., on or before expiration of Appraisal Resolution Deadline. 212 6.3. Lender Property Requirements. If the lender imposes any written requirements, replacements, removals or repairs, 213 including any specified in the Appraisal (Lender Requirements) to be made to the Property (e.g., roof repair, repainting), beyond 214 those matters already agreed to by Seller in this Contract, this Contract terminates on the earlier of three days following Seller's 215 receipt of the Lender Requirements, or Closing, unless prior to termination: (I) the parties enter into a written agreement to satisfy 216 the Lender requirements; (2) the Lender Requirements have been completed; or (3) the satisfaction of the Lender Requirements is 217 waived in writing by Buyer. 218 6.4. Cost of Appraisal. Cost of the Appraisal to be obtained after the date of this Contract must be timely paid by Li Buyer 0984-S-15. CONTRACT TO BUY AND SELL REAL ESTATE (LAND) 11/12/2019 7;45 Buyer initiate Seller initial* Pape 5 of lb 219 ❑ Seller. The cost of the Appraisal may include any and all fees paid to the appraiser, appraisal management company, lender's 220 agent or all three. 221 7. OWNERS' ASSOCIATION. This Section is applicable if the Property is located within a Common Interest Community and 222 subject to the declaration (Association). 223 7.1. Common Interest Community Disclosure. THE PROPERTY IS LOCATED WITHIN A COMMON 224 INTEREST COMMUNITY AND IS SUBJECT TO THE DECLARATION FOR THE COMMUNITY. THE OWNER OF 225 THE PROPERTY WILL BE REQUIRED TO BE A MEMBER OF THE OWNERS' ASSOCIATION FOR THE 226 COMMUNITY AND WILL BE SUBJECT TO THE BYLAWS AND RULES AND REGULATIONS OF THE 227 ASSOCIATION. THE DECLARATION, BYLAWS AND RULES AND REGULATIONS WILL IMPOSE FINANCIAL 228 OBLIGATIONS UPON THE OWNER OF THE PROPERTY, INCLUDING AN OBLIGATION TO PAY ASSESSMENTS 229 OF THE ASSOCIATION. IF THE OWNER DOES NOT PAY THESE ASSESSMENTS, THE ASSOCIATION COULD 230 PLACE A I.IF,N ON THE PROPERTY AND POSSIBLY SELL IT TO PAY TILE DEBT. THE DECLARATION, BYLAWS 231 AND RULES AND REGULATIONS OF THE COMMUNITY MAY PROHIBIT THE OWNER FROM MAKING 232 CHANGES TO THE PROPERTY WITHOUT AN ARCHITECTURAL REVIEW BY THE ASSOCIATION (OR A 233 COMMI'I"TEE OF THE ASSOCIATION) AND THE APPROVAL OF THE ASSOCIATION. PURCHASERS OF 234 PROPERTY WITHIN THE COMMON INTEREST COMMUNITY SHOULD INVESTIGATE THE FINANCIAL 235 OBLIGATIONS OF MEMBERS OF THE ASSOCIATION. PURCHASERS SHOULD CAREFULLY READ THE 236 DECLARATION FOR THE COMMUNITY AND THE BYLAWS AND RULES AND REGULATIONS OF THE 237 ASSOCIATION. 238 7.2. Association Documents to Buyer. Seller is obligated to provide to Buyer the Association Documents (defined below), 239 at Seller's expense, on or before Association Documents Deadline. Seller authorizes the Association to provide the Association 240 Documents to Buyer, at Seller's expense. Seller's obligation to provide the Association Documents is fulfilled upon Buyer's receipt 241 of the Association Documents, regardless of who provides such documents. 242 73. Association Documents. Association documents (Association Documents) consist of the following: 243 73.1. All Association declarations, articles of incorporation, bylaws, articles of organization, operating agreements, 244 rules and regulations, party wall agreements and the Association's responsible governance policies adopted under § 38-33.3-209.5, 245 C.R.S.: 246 7.3.2. Minutes of: (1) the annual owners' or members' meeting and (2) any executive boards' or managers' meetings; 247 such minutes include those provided under the most current annual disclosure required under § 38-33.3-209.4, C.R.S. (Annual 248 Disclosure) and minutes of meetings, if any, subsequent to the minutes disclosed in the Annual Disclosure. If none of the preceding 249 minutes exist, then the most recent minutes, if any (§§ 7.3,1 and 73.2, collectively, Governing Documents); and 250 7.33. List of all Association insurance policies as provided in the Association's last Annual Disclosure, including, 251 but not limited to, property, general liability, association director and officer professional liability and fidelity policies. The list must 252 include the company names, policy limits, policy deductibles, additional named insureds and expiration dates of the policies listed 253 (Association Insurance Documents); 254 7,3.4. A list by unit type of the Association's assessments, including both regular and special assessments as 255 disclosed in the Association's last Annual Disclosure; 256 73.5. The Association's most recent financial documents which consist of: (I) the Association's operating budget 257 for the current fiscal year, (2) the Association's most recent annual financial statements, including any amounts held in reserve for 258 the fiscal year immediately preceding the Association's last Annual Disclosure, (3) the results of the Association's most recent 259 available financial audit or review, (4) list of the fees and charges (regardless of name of title of such fees or charges) that the 260 Association's community association manager or Association will charge in connection with the Closing including, but not limited 261 to, any fee incident to the issuance of the Association's statement of assessments (Status Letter), any rush or update fee charged for 262 the Status Letter, any record change fee or ownership record transfer fees (Record Change Fee), fees to access documents, (5) list of 263 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 264 7.3.5, collectively. Financial Documents); 265 7.3.6. Any written notice from the Association to Seller of a "construction defect action" under § 38-33.3-303.5, 266 C.R.S. within the past six months and the result of whether the Association approved or disapproved such action (Construction 267 Defect Documents). Nothing in this Section limits the Seller's obligation to disclose adverse material facts as required under § 10.2 268 (Disclosure of Adverse Material Facts; Subsequent Disclosure; Present Condition) including any problems or defects in the common 269 elements or limited common elements of the Association property. 270 7.4. Conditional on Buyer's Review, Buyer has the right to review the Association Documents. Buyer has the Right to 271 Terminate under § 25.1, on or before Association Documents Termination Deadline, based on any unsatisfactory provision in any 272 of the Association Documents, in Buyer's sole subjective discretion. Should Buyer receive the Association Documents after 273 Association Documents Deadline, Buyer, at Buyer's option, has the Right to Terminate under § 25.1 by Buyer's Notice to 274 Terminate received by Seller on or before ten days after Buyer's receipt of the Association Documents. If Buyer does not receive CBS4-S-19. CONTRACT TO BUY AND SELL REAL ESTATE (LAND) 11/12/2019 7:45 Buyer initials Pageant 18 Seller initials rr stok 275 the Association Documents, or if Buyer's Notice to Terminate would otherwise be required to be received by Seller after Closing 276 Date, Buyer's Notice to Terminate must be received by Seller on or before Closing. If Seller does not receive Buyer's Notice to 277 Terminate within such time, Buyer accepts the provisions of the Association Documents as satisfactory and Buyer waives any Right 278 to Terminate under this provision, notwithstanding the provisions of § 8.6 (Right of First Refusal or Contract Approval). 279 8. TITLE INSURANCE, RECORD TITLE AND OFF -RECORD TITLE. 280 8.1. Evidence of Record Title. 281 Ai 8.1.1. Seller Selects Title Insurance Company. If this box is checked, Seller will select the title insurance company 282 to furnish the owner's title insurance policy at Seller's expense. On or before Record Title Deadline, Seller must furnish to Buyer, 283 a current commitment for an owner's title insurance policy (Title Commitment), in an amount equal to the Purchase Price, or if this 284 box is checked, O an Abstract of Title certified to a current date. Seller will cause the title insurance policy to be issued and 285 delivered to Buyer as soon as practicable at or after Closing. 286 0 8.1.2. Buyer Selects Title Insurance Company. If this box is checked, Buyer will select the title insurance company 287 to furnish the owner's title insurance policy at Buyer's expense. On or before Record Title Deadline, Buyer must furnish to Seller, a 288 current commitment for owner's title insurance policy (Title Commitment), in an amount equal to the Purchase Price. 289 If neither box in § 8.1.1 or § 8.1.2 is checked. § 8.1.1 applies. 290 8.13. Owner's Extended Coverage (OEC). The Title Commitment Iiti Will 0 Will Not contain Owner's 291 Extended Coverage (OEC). If the Title Commitment is to contain OEC, it will commit to delete or insure over the standard 292 exceptions which relate to: (1) parties in possession, (2) unrecorded easements, (3) survey matters, (4) unrecorded mechanics' liens, 293 (5) gap period (period between the effective date and time of commitment to the date and time the deed is recorded) and (6) unpaid 294 taxes, alnsments and unredeemed tax sales prior to the year of Closing. Any additional premium expense to obtain OEC will be 295 paid by A, Buyer ❑ Seller ❑ One -Half by Buyer and One -Half by Seller ❑ Other N/A. 296 Regardless of whether the Contract requires OEC. the Title Insurance Commitment may not provide OEC or delete or insure over 297 any or all of the standard exceptions for OEC. The Title Insurance Company may require a New Survey or New ILC. defined below, 298 among other requirements for OEC. If the Title Insurance Commitment is not satisfactory to Buyer, Buyer has a right to object under 299 § 8.5 (Right to Object to Title. Resolution). 3(X) 8.1.4. Title Documents. Title Documents consist of the following: (1) copies of any plats, declarations, covenants, 301 conditions and restrictions burdening the Property and (2) copies of any other documents (or. if illegible, summaries of such 302 documents) listed in the schedule of exceptions (Exceptions) in the Title Commitment furnished to Buyer (collectively, Title 303 Documents). 8.1.5. Copies of Title Documents. Buyer must receive, on or before Record Title Deadline, copies of all Title 305 Documents. This requirement pertains only to documents as shown of record in the office of the clerk and recorder in the county 306 where the Property is located. The cost of furnishing copies of the documents required in this Section will be at the expense of the 307 party or parties obligated to pay for the owner's title insurance policy. 308 8.1.6. Existing Abstracts of Title. Seller must deliver to Buyer copies of any abstracts of title covering all or any 309 portion of the Property (Abstract of Title) in Seller's possession on or before Record Title Deadline. 310 8.2. Record Title. Buyer has the right to review and object to the Abstract of Title or Title Commitment and any of the 311 Title Documents as set forth in § 8.5 (Right to Object to Title. Resolution) on or before Record Title Objection Deadline. Buyer's 312 objection may be based on any unsatisfactory form or content of Title Commitment or Abstract of Title, notwithstanding § 13, or 313 any other unsatisfactory title condition, in Buyer's sole subjective discretion. If the Abstract of Title, Title Commitment or Title 314 Documents are not received by Buyer on or before the Record Title Deadline, or if there is an endorsement to the Title Commitment 315 that adds a new Exception to title. a copy of the new Exception to title and the modified Title Commitment will be delivered to 316 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 317 required Title Document not timely received by Buyer, (2) any change to the Abstract of Title, Title Commitment or Title Documents, 318 cr (3) any endorsement to the Title Commitment. If Seller receives Buyer's Notice to Terminate or Notice of Title Objection, 319 pursuant to this § 8.2 (Record Title), any title objection by Buyer is governed by the provisions set forth in § 8.5 (Right to Object to 320 Ttle. Resolution). If Seller has fulfilled all Seller's obligations, if any. to deliver to Buyer all documents r quired by § 8.1 (Evidence 32.1 of Record Title) and Seller does not receive Buyer's Notice to Terminate or Notice of Title Objectionby the applicabie deadline 322 specified above, Buyer accepts the condition of title as disclosed by the Abstract of Title, Title Commitment and Title Documents 323 as satisfactory. 324 8.3. Off -Record Title. Seller must deliver to Buyer, on or before Off -Record Title Deadline, true copies of all existing 325 surveys in Seller's possession pertaining to the Property and must disclose to Buyer all easements, liens (including, without 326 limitation, governmental improvements approved, but not yet installed) or other title matters (including, without limitation, rights of 327 first refusal and options) not shown by public records, of which Seller has actual knowledge (Off -Record Matters). This Section 328 excludes any New ILC or New Survey governed under § 9 (New ILC, New Survey). Buyer has the right to inspect the Property to 329 investigate if any third party has any right in the Property not shown by public records (e.g., unrecorded easement, boundary line 330 discrepancy or water rights). Buyer's Notice to Terminate or Notice of Title Objection of any unsatisfactory condition (whether CBS4-S-19. CONTRACT TO BUY AND SELL REAL ESTATE (LAND) t 1/1?12019 7:45 Buyer initials Seller initials Page 7 of 18 331 disclosed by Seller or revealed by such inspection, notwithstanding § 8.2 (Record Tidei and § 13 (Transfer of Title)), in Buyer's 332 sole subjective discretion, must be received by Seller on or before Off -Record Title Objection Deadline. If an Off -Record Matter 333 is received by Buyer after the Off -Record Title Deadline, Buyer has until the earlier of Closing or ten days after receipt by Buyer 334 to review and object to such Off -Record Matter. If Seller receives Buyer's Notice to Terminate or Notice of Title Objection pursuant 335 to this § 8.3 (Off -Record Title), any title objection by Buyer is governed by the provisions set forth in § 8i (Right to Object to Title, 336 Resolution). if Seller does not receive Buyer's Notice to Terminate or Notice of Title Objection by the applicable deadline specified 337 above, Buyer accepts title subject to such Off -Record Matters and rights, if any, of third parties not shown by public records of which 338 Buyer has actual knowledge. 339 8.4. Special Taxing Districts. SPECIAL TAXING DISTRICTS MAY BE SUBJECT TO GENERAL OBLIGATION 340 INDEBTEDNESS THAT IS PAID BY REVENUES PRODUCED FROM ANNUAL TAX LEVIES ON THE TAXABLE 341 PROPERTY WITHIN SUCH DISTRICTS. PROPERTY OWNERS IN SUCH DISTRICTS MAY BE PLACED AT RISK 342 FOR INCREASED MILL LEVIES AND TAX TO SUPPORT THE SERVICING OF SUCH DEBT WHERE 343 CIRCUMSTANCES ARISE RESULTING iN THE INABILITY OF SUCH A DISTRICT TO DISCHARGE SUCH 344 INDEBTEDNESS WITHOUT SUCH AN INCREASE IN MILL LEVIES. BUYERS SHOULD INVESTIGATE THE 345 SPECIAL TAXING DISTRICTS IN WHICH THE PROPERTY IS LOCATED BY CONTACTING THE COUNTY 346 TREASURER, BY REVIEWING THE CERTIFICATE OF TAXES DUE FOR THE PROPERTY, AND BY OBTAINING 347 FURTHER INFORMATION FROM THE BOARD OF COUNTY COMMISSIONERS, THE COUNTY CLERK AND 348 RECORDER, OR THE COUNTY ASSESSOR. 349 A tax certificate from the respective county treasurer listing any special taxing districts that effect the Property (Tax Certificate) 350 must be delivered to Buyer on or before Record Title Deadline. If the Property is located within a special taxing district and such 351 inclusion is unsatisfactory to Buyer, in Buyer's sole subjective discretion, Buyer may object, on or before Record Title Objection 352 Deadline. If the Tax Certificate shows that the Property is included in a special taxing district and is received by Buyer after the 353 Record Title Deadline, Buyer has until the earlier of Closing or ten days after receipt by Buyer to review and object to the Property's 354 inclusion in a special taxing district as unsatisfactory to Buyer. 355 B.S. Right to Object to Title, Resolution. Buyer's right to object, in Buyer's sole subjective discretion, to any title matters 356 includes those matters set forth in § 8.2 (Record Title), § 8.3 (Off -Record Title), § 8.4 (Special Taxing District) and § 13 (Transfer 357 of Title). If Buyer objects to any title matter, on or before the applicable deadline, Buyer has the following options: 358 8.5.1. Title Objection, Resolution. If Seller receives Buyer's written notice objecting to any title matter (Notice of 359 Title Objection) on or before the applicable deadline and if Buyer and Seller have not agreed to a written settlement thereof on or 360 before Title Resolution Deadline. this Contract will terminate on the expiration of Title Resolution Deadline, unless Seller receives 361 Buyer's written withdrawal of Buyer's Notice of Title Objection (i.e., Buyer's written notice to waive objection to such items and 362 waives the Right to Terminate for that reason), on or before expiration of Title Resolution Deadline. If either the Record Title 363 Deadline or the Off -Record Title Deadline, or both, arc extended pursuant to § 8.2 (Record Title), § 8.3 (Off -Record Title) or § 8.4 364 (Special Taxing Districts). the Title Resolution Deadline also will be automatically extended to the earlier of Closing or fifteen days 365 after Buyer's receipt of the applicable documents; or 366 8.5.2. Title Objection, Right to Terminate. Buyer may exercise the Right to Terminate under § 25.1, on or before 367 the applicable deadline, based on any title matter unsatisfactory to Buyer, in Buyer's sole subjective discretion. 368 8.6. Right of First Refusal or Contract Approval. if there is a right of first refusal on the Property, or a right to approve 369 this Contract, Seller must promptly submit this Contract according to the terms and conditions of such right. If the holder of the right 370 of first refusal exercises such right or the holder of a right to approve disapproves this Contract, this Contract will terminate. If the 371 right of first refusal is waived explicitly or expires, or the Contract is approved, this Contract will remain in full force and effect. 172 Seller must promptly notify Buyer in writing of the foregoing. If expiration or waiver of the nght of first refusal or approval of this 373 Contract has not occurred on or before Right of First Refusal Deadline, this Contract will then terminate. 374 8.7. Title Advisory. The Title Documents affect the title, ownership and use of the Property and should be reviewed 3"5 carefully. Additionally. other matters not reflected in the Title Documents may affect the title, ownership and use of the Property, 376 including, without limitation, boundary lines and encroachments, set -back requirements, area, zoning, building code violations, 377 unrecorded easements and claims of easements, leases and other unrecorded agreements, water on or under the Property and various 375 laws and governmental regulations concerning land use, development and environmental matters. 379 8.7.1. OIL, GAS, WATER AND MINERAL DISCLOSURE. THE SURFACE ESTATE OF THE 380 PROPERTY MAY BE OWNED SEPARATELY FROM THE UNDERLYING MINERAL ESTATE AND TRANSFER 381 OF THE SURFACE ESTATE MAY NOT NECESSARILY INCLUDE TRANSFER OF THE MINERAL ESTATE OR WATER 382 RIGHTS. THIRD PARTIES MAY OWN OR LEASE INTERESTS IN OIL, GAS, OTHER MINERALS, GEOTHERMAL 383 ENERGY OR WATER ON OR UNDER THE SURFACE OF THE PROPERTY, WHICH INTERESTS MAY GIVE THEM 384 RIGHTS TO ENTER AND USE THE SURFACE OF THE PROPERTY TO ACCESS THE MINERAL ESTATE, OIL, 385 GAS OR WATER. 386 8.7.2. SURFACE USE AGREEMENT. THE USE OF THE SURFACE ESTATE OF THE PROPERTY TO 387 ACCESS THE OIL, GAS OR MINERALS MAY BE GOVERNED BY A SURFACE USE AGREEMENT, A CBS4-S-19. CONTRACT TO BUY AND SELL REAL ESTATE (LAND) 11/12/2019 T45 5 Buyer initials Seller initials Par SatIs 388 MEMORANDUM OR OTHER NOTICE OF WHICH MAY BE RECORDED WITH THE COUNTY CLERK AND 389 RECORDER. 390 8.7.3. OIL AND GAS ACTIVITY. OIL AND GAS ACTIVITY THAT MAY OCCUR ON OR ADJACENT 39l TO THE PROPERTY MAY INCLUDE, BUT IS NOT LIMITED TO, SURVEYING, DRILLING, WELL COMPLETION 392 OPERATIONS, STORAGE, OIL AND GAS, OR PRODUCTION FACILITIES, PRODUCING WELLS, REWORKING 393 OF CURRENT WELLS AND GAS GATHERING AND PROCESSING FACILITIES. 394 8.7A ADDITIONAL INFORMATION. BUYER IS ENCOURAGED TO SEEK ADDITIONAL 395 INFORMATION REGARDING OIL AND GAS ACTIVITY ON OR ADJACENT TO THE PROPERTY, INCLUDING 396 DRILLING PERMIT APPLICATIONS. THIS INFORMATION MAY BE AVAILABLE FROM THE COLORADO OIL 397 AND GAS CONSERVATION COMMISSION. 398 8.7.5. Title Insurance Exclusions. Matters set forth in this Section and others, may be excepted, excluded from, or 399 not covered by the owner's title insurance policy. 4(}0 8.8. Consult an Attorney. Buyer is advised to timely consult legal counsel with respect to all such matters as there are 401 strict time limits provided in this Contract (e.g., Record Title Objection Deadline and Off -Record Title Objection Deadline). 402 403 404 405 406 407 408 409 410 411 412 413 414 415 416 417 418 419 420 421 422 423 424 425 426 427 428 429 430 431 432 9. NEW ILC, NEW SURVEY. 9.1. New ILC or New Survey. If the box is checked, a: l) O New Improvement Location Certificate (New ILC); or, 2) XI New Survey in the form of ALTA Survey: is required and the following will apply: 9.1.1. Ordering of New ILC or New Survey. O 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. 9.12. 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 Buyer's Broker 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 he certified by the surveyor to all those who are to receive the New LLC 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 to 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 § 25.1. 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 I1C 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 433 10. PROPERTY DISCLOSURE, INSPECTION, INDEMNITY, INSURABILITY, DUE DILIGENCE AND SOURCE OF 434 WATER. 435 10.1. Seller's Property Disclosure. On or before Seller's Property Disclosure Deadline, Seller agrees to deliver to Buyer 436 the most current version of the applicable Colorado Real Estate Commission's Seller's Property Disclosure form completed by Seller 437 to Seller's actual knowledge and current as of the date of this Contract. 438 10.2. Disclosure of Adverse Material Facts; Subsequent Disclosure; Present Condition. Seller must disclose to Buyer 439 any adverse material facts actually known by Seller as of the date of this Contract. Seller agrees that disclosure of adverse material 440 facts will be in writing. In the event Seller discovers an adverse material fact after the date of this Contract, Seller must timely 441 disclose such adverse fact to Buyer. Buyer has the Right to Terminate based on the Seller's new disclosure on the earlier of Closing CBS4-5.19. CONTRACT TO BUY AND SELL REAL ESTATE (LAND} 1 1/1212019 7:45 Buyer initials Seller initials 4141Mi Page 9oft* 442 or five days after Buyer's receipt of the new disclosure. Except as otherwise provided in this Contract, Buyer acknowledges that 443 Seller is conveying the Property to Buyer in an "As Is" condition, "Where Is" and "With All Faults" 444 10.3. Inspection. Unless otherwise provided in this Contract, Buyer, acting in good faith, has the right to have inspections 445 (by one or more third parties, personally or both) of the Property and Inclusions (Inspection), at Buyer's expense. If (I) the physical 446 condition of the Property, including, but not limited to, the roof, walls, structural integrity of the Property, the electrical, plumbing, 447 HVAC and other mechanical systems of the Property, (2) the physical condition of the Inclusions, (3) service to the Property 448 (including utilities and communication services), systems and components of the Property (e.g., heating and plumbing), (4) any 449 proposed or existing transportation project, road, street or highway, or (5) any other activity, odor or noise (whether on or off the 450 Property) and its effect or expected effect on the Property or its occupants is unsatisfactory, in Buyer's sole subjective discretion, 451 Buyer may: 452 10.3.1. Inspection Objection. On or before the Inspection Objection Deadline, deliver to Seller a written 453 description of any unsatisfactory condition that Buyer requires Seller to correct; or 454 10.3.2. Terminate. On or before the Inspection Termination Deadline, notify Seller in writing, pursuant to § 25.1, 455 that this Contract is terminated due to any unsatisfactory condition. Inspection Termination Deadline will be on the earlier of 456 Inspection Resolution Deadline or the date specified in § 3.1 for Inspection Termination Deadline. 457 10,3.3. Inspection Resolution. If an Inspection Objection is received by Seller, on or before Inspection Objection 458 Deadline and if Buyer and Seller have not agreed in writing to a settlement thereof on or before Inspection Resolution Deadline, 459 this Contract will terminate on Inspection Resolution Deadline unless Seller receives Buyer's written withdrawal of the Inspection 460 Objection before such termination, i.e., on or before expiration of Inspection Resolution Deadline. 461 10.4. Damage, Liens and Indemnity. Buyer, except as otherwise provided in this Contract or other written agreement 462 between the parties, is responsible for payment for all inspections, tests, surveys, engineering reports, or other reports performed at 463 Buyer's request (Work) and must pay for any damage that occurs to the Property and Inclusions as a result of such Work. Buyer 464 must not permit claims or liens of any kind against the Property for Work performed on the Property. Buyer agrees to indemnify, 465 protect and hold Seller harmless from and against any liability, damage, cost or expense incurred by Seller and caused by any such 466 Work, claim, or lien. This indemnity includes Seller's right to recover all costs and expenses incurred by Seller to defend against 467 any such liability, damage, cost or expense. or to enforce this Section, including Seller's reasonable attorney fees, legal fees and 468 expenses. The provisions of this Section survive the termination of this Contract. This § 10.4 does not apply to items performed 469 pursuant to an Inspection Resolution. 470 10.5. Insurability. Buyer has the right to review and object to the availability, terms and conditions of and premium for 471 property insurance (Property Insurance). Buyer has the Right to Terminate under § 25.1, on or before Property Insurance 472 Termination Deadline, based on any unsatisfactory provision of the Property Insurance, in Buyer's sole subjective discretion. 473 10.6. Due Diligence. 474 10.6.1. Due Diligence Documents. If the respective box is checked, Seller agrees to deliver copies of the following 475 documents and information pertaining to the Property (Due Diligence Documents) to Buyer on or before Due Diligence Documents 476 Delivery Deadline: 477 El 10.6.1.1. All contracts relating to the operation, maintenance and management of the Property; 478 ❑ 10.6.1.2. Property tax bills for the last N/A years; 479 0 10.6.1.3. As -built construction plans to the Property and the tenant improvements, including architectural, 480 electrical, mechanical and structural systems; engineering reports; and permanent Certificates of Occupancy, to the extent now 481 available; 482 ❑ 10.6.1.4. A list of all Inclusions to be conveyed to Buyer; 483 ❑ 10.6.1.5. Operating statements for the past N/A years; 484 ❑ 10.6.1.6. A rent roll accurate and correct to the date of this Contract; 485k 10.6.1,7. All current leases, including any amendments or other occupancy agreements, pertaining to the 486 Property. Those !eases or other occupancy agreements pertaining to the Property that survive Closing are as follows (I eases): 487 N/A 488 489 ❑ 10.6.1.8. A schedule of any tenant improvement work Seller is obligated to complete but has not yet 490 completed and capital improvement work either scheduled or in process on the date of this Contract; 491 [] 10.6.1.9. All insurance policies pertaining to the Property and copies of any claims which have been made 492 for the past N/A years; 493 0 10.6.1.10. Soils reports, surveys and engineering reports or data pertaining to the Property (if not delivered 494 earlier under § 8.3); 495 ❑ 10.6.1.11. Any and all existing documentation and reports regarding Phase I and II environmental reports, 496 letters, test results, advisories and similar documents respective to the existence or nonexistence of asbestos, PCB transformers, or 497 other toxic, hazardous or contaminated substances and/or underground storage tanks and/or radon gas. If no reports are in Seller's 498 possession or known to Seller, Seller warrants that no such reports arc in Seller's possession or known to Seller; ZlZSei 7 i /7/1044 Seller initials 0654-5-19. CONTRACT TO BUY AND SELL REAL ESTATE (LAND) I I/t Page 10 at Is Buyer initials 499 [Ti 10.6.1.12. Any Americans with Disabilities Act reports, studies or surveys concerning the compliance of the 500 Property with said Act; 501 ❑ 10.6.1.13. Ali permits, licenses and other building or use authorizations issued by any governmental authority 502 with jurisdiction over the Property and written notice of any violation of any such permits, licenses or use authorizations, if any; and 503 [Ti 10.6.1.14. Other documents and information: 504 N/A 505 506 10.6.2. Due Diligence Documents Review and Objection. Buyer has the right to review and object to Due Diligence 507 Documents. If the Due Diligence Documents are not supplied to Buyer or are unsatisfactory, in Buyer's sole subjective discretion, 508 Buyer may, on or before Due Diligence Documents Objection Deadline: 509 10.6.2.1. Notice to Terminate. Notify Seller in writing, pursuant to § 25.1, that this Contract is terminated; 510 or 511 10.6.2.2. Due Diligence Documents Objection. Deliver to Seller a written description of any 512 unsatisfactory Due Diligence Documents that Buyer requires Seller to correct. 513 10.6.2.3. Due Diligence Documents Resolution. If a Due Diligence Documents Objection is received by 514 Seller, on or before Due Diligence Documents Objection Deadline and if Buyer and Seller have not agreed in writing to a settlement 515 thereof on or before Due Diligence Documents Resolution Deadline, this Contract will terminate on Due Diligence Documents 516 Resolution Deadline unless Seller receives Buyer's written withdrawal of the Due Diligence Documents Objection before such 517 termination, i.e., on or before expiration of Due Diligence Documents Resolution Deadline. 518 10.6.3. Zoning. Buyer has the Right to Terminate under § 25.1, on or before Due Diligence Documents Objection 519 Deadline, based on any unsatisfactory zoning and any use restrictions imposed by any governmental agency with jurisdiction over 520 the Property, in Buyer's sole subjective discretion. 521 10.6.4. Due Diligence — Environmental, ADA. Buyer has the right to obtain environmental inspections of the 522 Property including Phase 1 and Phase 11 Environmental Site Assessments, as applicable. ❑ Seller O Buyer will order or provide 523 ❑ Phase I Environmental Site Assessment, ❑ Phase II Environmental Site Assessment (compliant with most current version 524 of the applicable ASTM E1527 standard practices for Environmental Site Assessments) and/or ❑ N/A. 525 at the expense of ❑ Seller O Buyer (Environmental Inspection). In addition, Buyer, at Buyer's expense, may also conduct an 526 evaluation whether the Property complies with the Americans with Disabilities Act (ADA Evaluation). All such inspections and 527 evaluations must be conducted at such times as are mutually agreeable to minimize the interruption of Seller's and any Seller's 528 tenants' business uses of the Property, if any. 529 If Buyer's Phase I Environmental Site Assessment recommends a Phase U Environmental Site Assessment, the Environmental 530 Inspection Termination Deadline will be extended by N/A days (Extended Environmental Inspection 531 Termination Deadline) and if such Extended Environmental Inspection Termination Deadline extends beyond the Closing Date, the 532 Closing Date will be extended a like period of time. In such event. ❑ Seller ❑ Buyer must pay the cost for such Phase II 533 Environmental Site Assessment. 534 Notwithstanding Buyer's right to obtain additional environmental inspections of the Property in this § 10.6.4, Buyer has the 535 Right to Terminate under § 25,1, on or before Environmental Inspection Termination Deadline, or if applicable, the Extended 536 Environmental Inspection Termination Deadline, based on any unsatisfactory results of Environmental Inspection, in Buyer's sole 537 subjective discretion. 538 Buyer has the Right to Terminate under § 25.1, on or before ADA Evaluation Termination Deadline, based on any 539 unsatisfactory ADA Evaluation, in Buyer's sole subjective discretion. 540 10,7. Conditional Upon Sale of Property. This Contract is conditional upon the sale and closing of that certain property 541 owned by Buyer and commonly known as N/A. Buyer has the Right 542 to Terminate under § 25.1 effective upon Seller's receipt of Buyer's Notice to Terminate on or before Conditional Sale Deadline if 541 such property is not sold and closed by such deadline. This Section is for the sole benefit of Buyer. if Seller does not receive Buyer's 544 Notice to Terminate on or before Conditional Sale Deadline. Buyer waives any Right to Terminate under this provision. 545 10.8. Source of Potable Water (Residential Land and Residential Improvements Only). Buyer ❑ Does Ai Does Not 546 acknowledge receipt of a copy of Seller's Property Disclosure or Source nt Water Addendum disclosing the source of potable water for 547 the Property. IA : There is No Well. Buyer ❑ Does Ks Does Not acknowledge receipt of a copy of the current well permit. 548 Note to Buyer: SOME WATER PROVIDERS RELY, TO VARYING DEGREES, ON NONRENEWABLE GROUND 549 WATER. YOU MAY WISH TO CONTACT YOUR PROVIDER (OR INVESTIGATE THE DESCRIBED SOURCE) TO 550 DETERMINE THE LONG-TERM SUFFICIENCY OF THE PROVIDER'S WATER SUPPLIES. 551 10.9. Existing Leases; Modification of Existing Leases; New Leases. Seller states that none of the Leases to be assigned 552 to the Buyer at the time of Closing contain any rent concessions, rent reductions or rent abatements except as disclosed in the 1 ice 553 or other writing received by Buyer. Seller will not amend, alter, modify, extend or cancel any of the Leases nor will Seller enter into 554 any new leases affecting the Property without the prior written consent of Buyer, which consent will not be unreasonably withheld 555 or delayed. CBS4S-19. CONTRACT TO BUY AND SELL REAL ESTATE (t.AND) I 1/12/2019 7 45 Buyer Initials Seller inidiiI `• �' 1/144 1 Page 11 of 556 IL ESTOPPEL STATEMENTS. 557 11.1. Estoppel Statements Conditions. Buyer has the right to review and object to any Estoppel Statements. Seller must 558 request from all tenants of the Property and if received by Seller, deliver to Buyer on or before Estoppel Statements Deadline, 559 statements in a form and substance reasonably acceptable to Buyer, from each occupant or tenant at the Property (Estoppel Statement) 560 attached to a copy of the Lease suiting: 561 11.11. The commencement date of the Lease and scheduled termination date of the Lease; 562 11.1.2. That said Lease is in full force and effect and that there have been no subsequent modifications or 563 amendments; 564 11.1.3. The amount of any advance rentals paid, rent concessions given and deposits paid to Seller; 565 11.1.4. The amount of monthly (or other applicable period) rental paid to Seller; 566 11.1.5. That there is no default under the terms of said Lease by landlord or occupant; and 567 11.1.6. That the Lease to which the Estoppel Statement is attached is a true, correct and complete copy of the Lease 568 demising the premises it describes. 569 11.2 Seller Estoppel Statement. In the event Seller does not receive from all tenants of the Property a completed signed 570 Estoppel Statement, Seller agrees to complete and execute an Estoppel Statement setting forth the information and documents 571 required § 11.1 above and deliver the same to Buyer on or before Estoppel Statements Deadline. 572 11.3. Estoppel Statements Termination. Buyer has the Right to Terminate under § 25.1, on or before Estoppel 573 Statements Termination Deadline. based on any unsatisfactory Estoppel Statement, in Buyer's sole subjective discretion, or if 574 Seller fails to deliver the Estoppel Statements on or before Estoppel Statements Deadline. Buyer also has the unilateral right to 575 waive any unsatisfactory Estoppel Statement. 576 CLOSING PROVISIONS 577 12. CLOSING DOCUMENTS, INSTRUCTIONS AND CLOSING. 578 12.1. Closing Documents and Closing Information. Seller and Buyer will cooperate with the Closing Company to enable 579 the Closing Company to prepare and deliver documents required for Closing to Buyer and Seller and their designees. If Buyer is 580 obtaining a loan to purchase the Property, Buyer acknowledges Buyer's lender is required to provide the Closing Company, in a 581 timely manner, all required loan documents and financial information concerning Buyer's loan. Buyer and Seller will furnish any 582 additional information and documents required by Closing Company that will be necessary to complete this transaction. Buyer and 583 Seller will sign and complete all customary or reasonably -required documents at or before Closing. 584 12.2. Closing Instructions. Colorado Real Estate Commission's Closing Instructions 0 Are E] Are Not executed with 585 this Contract. 586 12.3. Closing. Delivery of deed from Seller to Buyer will be at closing (Closing). Closing will be on the date specified as 587 the Closing Date or by mutual agreement at an earlier date. The hour and place of Closing will be as designated by 588 Seller. 589 12.4. Disclosure of Settlement Costs. Buyer and Seller acknowledge that costs, quality and extent of service vary between 590 different settlement service providers (e.g., attorneys, lenders, inspectors and title companies). 591 13. TRANSFER OF TITLE. Subject to Buyer's compliance with the terms and provisions of this Contract, including the tender 592 of any payment due at Closing, Seller must execute and deliver the following good and sufficient deed to Buyer, at Closing: 593 C3 special warranty deed 0 general warranty deed ❑ bargain and sale deed 0 quit claim deed 0 personal representative's 594 deed O N/A deed. Seiler, provided another deed is not selected, must execute and deliver a good 595 and sufficient special warranty deed to Buyer, at Closing. 596 Unless otherwise specified in § 30 iAdditional Provisions), if title will be conveyed using a special warranty deed or a general 597 warranty deed, title will be conveyed "subject to statutory exceptions" as defined in § 38-30-113(5)(a), C.R.S. 598 14. PAYMENT OF LIENS AND ENCUMBRANCES. Unless agreed to by Buyer in writing, any amounts owed on any liens 599 or encumbrances securing a monetary sum, including, but not limited to, any governmental liens for special improvements installed 6(X) as of the date of Buyer's signature hereon, whether assessed or not and previous years' taxes, will be paid at or before Closing by 601 Seller from the proceeds of this transaction or from any other source. 602 15. CLOSING COSTS, CLOSING FEE, ASSOCIATION FEES AND TAXES. 603 15.1. Closing Costs. Buyer and Seller must pay, in Good Funds, their respective closing costs and all other items required 604 to be paid at Closing, except as otherwise provided herein. 605 15.2. Closing Services Fee. The fee for real estate closing services must be paid at Closing by 0 Buyer 0 Seller 606 0 One -Half by Buyer and One -Half by Seller ❑ Other N/A CB543-H. CONTRACT TO BUY AND SELL REM, ESTATE. (LAND) 11/12/2019 7 45 Buyer initials Seller initials 1441 Page 12 of 18 607 153. Status Letter and Record Change Fees. At least fourteen days prior to Closing Date, Seller agrees to promptly 608 request the Association to deliver to Buyer a current Status Letter. Any fees incident to the issuance of Association's Status Letter 609 must be paid by X None ❑ Buyer ❑ Seller ❑ One -Half by Buyer and One -Half by Seller. Any Record Change Fee must 610 be paid by Egl None O Buyer El Seller ❑ One -Half by Buyer and One -Half by Seller. 611 15.4. Local Transfer Tax. ❑ The Local Transfer Tax of N/A % of the Purchase Price must be paid at Closing by 612 X None El Buyer O Seller ❑ One -Half by Buyer and One -Half by Seller. 613 15.5. Private Transfer Fee. Private transfer fees and other fees due to a transfer of the Property, payable at Closing, such 614 as community association fees, developer fees and foundation fees, must be paid at Closing by X None ❑ Buyer ❑ Seller 615 O One -Half by Buyer and One -Half by Seller. The Private Transfer fee, whether one or more, is for the following association(s): 616 N/A in the total amount of N/A % of the Purchase Price or $ N/A . 617 15.6. Water Transfer Fees. The Water Transfer Fees can change. The fees, as of the date of this Contract, do not exceed 618 $ N/A for: 619 ❑ Water Stock/Cenificates ❑ Water District 620 O Augmentation Membership O Small Domestic Water Company ❑ N/A 621 and must be paid at Closing by x; None ❑ Buyer ❑ Seller ❑ One -Half by Buyer and One -Half by Seller. 622 15.7. Sales and Use Tax. Any sales and use tax that may accrue because of this transaction must be paid when due by Yi 623 None O Buyer O Seller O One -Half by Buyer and One -Half by Seller. 624 15.8. FIRPTA and Colorado Withholding. 62.5 15.8.1. FIRPTA. The Internal Revenue Service (IRS) may require a substantial portion of the Seller's proceeds be 626 withheld after Closing when Seiler is a foreign person. If required withholding does not occur, the Buyer could be held liable for the 627 amount of the Seller's tax, interest and penalties. If the box in this Section is checked, Seller represents that Seller ❑ IS a foreign 628 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 629 person for purposes of U.S. income taxation. Seller agrees to cooperate with Buyer and Closing Company to provide any reasonably 630 requested documents to verify Seller's foreign person status. If withholding is required, Seller authorizes Closing Company to 631 withhold such amount from Seller's proceeds. Seller should inquire with Seller's tax advisor to determine if withholding applies or 632 if an exemption exists. 633 15.8.2. Colorado Withholding. The Colorado Department of Revenue may require a portion of the Seller's proceeds 634 be withheld after Closing when Seller will not be a Colorado resident after Closing, if not otherwise exempt. Seller agrees to 635 cooperate with Buyer and Closing Company to provide any reasonably requested documents to verify Seller's status. If withholding 636 is required. Seller authorizes Closing Company to withhold such amount from Seller's proceeds. Seller should inquire with Seller's 637 tax advisor to determine if withholding applies or if an exemption exists. 638 16. PRORATIONS AND ASSOCIATION ASSESSMENTS. The following will be prorated to the Closing Date, except as 639 otherwise provided: 640 16.1. Taxes. Personal property taxes, if any, special taxing district assessments, if any and general real estate taxes for the 641 year of Closing, based on O Taxes for the Calendar Year Immediately Preceding Closing 'Xi Most Recent Mill Levy and Most 642 Recent Assessed Valuation, ❑ Other N/A, 643 16.2. Rents. Rents based on ❑ Rents Actually Received O Accrued. At Closing, Seller will transfer or credit to Buyer 644 the security deposits for all Leases assigned, or any remainder after lawful deductions and notify all tenants in writing of such transfer 645 and of the transferee's name and address. Seller must assign to Buyer all Leases in effect at Closing and Buyer must assume Seller's 646 obligations under such Leases. 641 16.3. Association Assessments. Current regular Association assessments and dues (Association Assessments) paid in 648 advance will be credited to Seller at Closing. Cash reserves held out of the regular Association Assessments for deferred maintenance 649 by the Association will riot be credited to Seller except as may be otherwise provided by the Governing Documents. Buyer 650 acknowledges that Buyer may be obligated to pay the Association, at Closing, an amount for reserves or working capital. Any special 651 assessment assessed prior to Closing Date by the Association will be the obligation of O Buyer ❑ Seller. Except however, any 652 special assessment by the Association for improvements that have been installed as of the date of Buyer's signature hereon, whether 653 assessed prior to or after Closing, will be the obligation of Seller. Seller represents there are no unpaid regular or special assessments 654 against the Property except the current regular assessments and N/A, Association Assessments 655 are subject to change as provided in the Governing Documents. 656 16.4. Other Prorations. Water and sewer charges, propane, interest on continuing loan, and N/A. 657 16.5. Final Settlement. Unless otherwise agreed in writing, these prorations are final. 658 17. POSSESSION. Possession of the Property will be delivered to Buyer on Possession Date at Possession Time, subject to the 659 Leases as set forth in § 10.6.1.7. 660 if Seller, after Closing, fails to deliver possession as specified, Seller will be subject to eviction and will he additionally liable CBS4-5-19. CONTRACT TO BUY AND SELL REAL ESTATE (LAND) I II 12/2019 7:45 Buyer Initials Seller initials Page 13 or 18 661 to Buyer for payment of $ 250.00 per day (or any part of a day notwithstanding § 18.1) from Possession Date and 662 Possession Time until possession is delivered. 663 GENERAL PROVISIONS I 664 18. DAY; COMPUTATION OF PERIOD OF DAYS, DEADLINE. 665 18.1. Day. As used in this Contract, the term "day" means the entire day ending at 11:59 p.m., United States Mountain Time 666 (Standard or Daylight Savings, as applicable). 667 18.2. Computation of Period of Days, Deadline. in computing a period of days (e.g., three days after MEC), when the 668 ending date is not specified, the first day is excluded and the last day is included. If any deadline falls on a Saturday, Sunday or 669 federal or Colorado state holiday (Holiday), such deadline 0 Will O Will Not be extended to the next day that is not a Saturday, 670 Sunday or Holiday. Should neither box be checked, the deadline will not be extended. 671 19. CAUSES OF LOSS, INSURANCE; DAMAGE TO INCLUSIONS AND SERVICES; CONDEMNATION; AND 672 WALK-THROUGH. Except as otherwise provided in this Contract, the Property, inclusions or both will be delivered in the 673 condition existing as of the date of this Contract, ordinary wear and tear excepted. 674 19.1. Causes of Loss, Insurance. in the event the Property or Inclusions are damaged by fire, other perils or causes of loss 675 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 676 damage will be paid by insurance (other than the deductible to be paid by Seller), then Seller, upon receipt of the insurance proceeds, 677 will use Seller's reasonable efforts to repair the Property before Closing Date. Buyer has the Right to Terminate under § 25.1, on or 678 before Closing Date. if the Property is not repaired before Closing Date, or if the damage exceeds such sum. Should Buyer elect to 679 carry out this Contract despite such Property Damage, Buyer is entitled to a credit at Closing for all insurance proceeds that were 680 received by Seller (but not the Association, if any) resulting from damage to the Property and Inclusions, plus the amount of any 681 deductible provided for in the insurance policy. This credit may not exceed the Purchase Price. In the event Seller has not received 682 the insurance proceeds prior to Closing, the parties may agree to extend the Closing Date to have the Property repaired prior to 683 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 684 insurance company and Buyer's lender; or (2) the parties may enter into a written agreement prepared by the parties or their attorney 685 requiring the Seller to escrow at Closing from Seller's sale proceeds the amount Seller has received and will receive due to such 686 damage, not exceeding the total Purchase Price, plus the amount of any deductible that applies to the insurance claim. 687 19.2. Damage, Inclusions and Services. Should any Inclusion or service (including utilities and communication services), 688 system, component or fixture of the Property (collectively Service) (e.g., heating or plumbing), fail or be damaged between the date 689 of this Contract and Closing or possession, whichever is earlier, then Seller is liable for the repair or replacement of such Inclusion 690 or Service with a unit of similar size, age and quality, or an equivalent credit, but only to the extent that the maintenance or 691 replacement of such Inclusion or Service is not the responsibility of the Association, if any, less any insurance proceeds received by 692 Buyer covering such repair or replacement. If the failed or damaged Inclusion or Service is not repaired or replaced on or before 693 Closing or possession, whichever is earlier, Buyer has the Right to Terminate under § 25.1, on or before Closing Date, or, at the 694 option of Buyer, Buyer is entitled to a credit at Closing for the repair or replacement of such Inclusion or Service. Such credit must 695 not exceed the Purchase Price. If Buyer receives such a credit, Seller's right for any claim against the Association, if any, will survive 696 Closing. 697 19.3. Condemnation. In the event Seller receives actual notice prior to Closing that a pending condemnation action may 698 result in a taking of all or part of the Property or Inclusions, Seller must promptly notify Buyer, in writing, of such condemnation 699 action. Buyer has the Right to Terminate under § 25,1, on or before Closing Date, based on such condemnation action, in Buyer's 700 sole subjective discretion. Should Buyer elect to consummate this Contract despite such diminution of value to the Property and 701 Inclusions, Buyer is entitled to a credit at Closing for all condemnation proceeds awarded to Seller for the diminution in the value 702 of the Property or Inclusions but such credit will not include relocation benefits or expenses, or exceed the Purchase Price. 703 19,41. Walk -Through and Verification of Condition. Buyer. upon reasonable notice, has the right to walk through the 704 Property prior to Closing to verify that the physical condition of the Property and Inclusions complies with this Contract. 705 195. Home Warranty. [Intentionally Deleted] 706 19.6. Risk of Loss — Growing Crops. The risk of loss for damage to growing crops by fire or other casualty will be borne 707 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 708 the growing crops. 709 20. RECOMMENDATION OF LEGAL AND TAX COUNSEL. By signing this Contract, Buyer and Seller acknowledge that 710 the respective broker has advised that this Contract has important legal consequences and has recommended the examination of title 711 and consultation with legal and tax or other counsel before signing this Contract. 7 12 21. TIME OF ESSENCE, DEFAULT AND REMEDIES. Time is of the essence for all dates and deadlines in this 713 Contract. This means that all dates and deadlines are strict and absolute. If any payment due, including Earnest Money, is not paid, CBS45-19. CONTRACT TO BUY AND SELL REAL ESTATE (LAND) I 1/1 2/2019 7:45 Buyer initials Setter initials Page 14 of l8 714 honored or tendered when due, or if any obligation is not performed timely as provided in this Contract or waived, the non -defaulting 715 party has the following remedies: 716 21.1. If Buyer is in Default: 717 ❑ 21.1.1. Specific Performance. Seller may elect to cancel this Contract and all Earnest Money (whether or not paid 718 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 719 amount is fair and reasonable. Seller may recover such additional damages as may be proper. Alternatively, Seller may elect to 720 treat this Contract as being in full force and effect and Seller has the right to specific performance, or damages, or both. 721 21.1.2. Liquidated Damages, Applicable. This § 21.1.2 applies unless the box in § 21.1.1. is checked. Seller may 722 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 723 the Earnest Money specified in § 4.1 is LIQUIDATED DAMAGES and not a penalty, which amount the parties agree is fair and 724 reasonable and (except as provided in §§ 10.4. 22, 23 and 24), said payment of Earnest Money is SELLER'S ONLY REMEDY for 725 Buyer's failure to perform the obligations of this Contract. Seller expressly waives the remedies of specific performance and 726 additional damages. 727 21.2. If Seller is in Default: Buyer may elect to treat this Contract as canceled, in which case all Earnest Money received 728 hereunder will be returned to Buyer and Buyer may recover such damages as may be proper. Alternatively, Buyer may elect to treat 729 this Contract as being in full force and effect and Buyer has the right to specific performance, or damages, or both. 730 22. LEGAL FEES, COST AND EXPENSES. Anything to the contrary herein notwithstanding, in the event of any arbitration 731 or litigation relating to this Contract, prior to or after Closing Date, the arbitrator or court must award to the prevailing party all 732 reasonable costs and expenses, including attorney fees, legal fees and expenses. 733 23. MEDIATION. If a dispute arises relating to this Contract (whether prior to or after Closing) and is not resolved, the parties 734 must first proceed, in good faith, to mediation. Mediation is a process in which the parties meet with an impartial person who helps 735 to resolve the dispute informally and confidentially. Mediators cannot impose binding decisions. Before any mediated settlement is 736 binding, the parties to the dispute must agree to the settlement, in writing. The parties will jointly appoint an acceptable mediator 737 and will share equally in the cost of such mediation. The obligation to mediate, unless otherwise agreed, will terminate if the entire 738 dispute is not resolved within thirty days of the date written notice requesting mediation is delivered by one party to the other at that 739 party's last known address (physical or electronic as provided in § 27). Nothing in this Section prohibits either party from filing a 740 lawsuit and recording a lis pendens affecting the Property, before or after the date of written notice requesting mediation. This 741 Section will not alter any date in this Contract, unless otherwise agreed. 742 24. EARNEST MONEY DISPUTE. Except as otherwise provided herein. Earnest Money Holder must release the Earnest 743 Money following receipt of written mutual instructions, signed by both Buyer and Seller. In the event of any controversy regarding 744 the Earnest Money, Earnest Money Holder is not required to release the Earnest Money. Earnest Money Holder, in its sole subjective 745 discretion, has several options: ( 1 ) wait for any proceeding between Buyer and Seller; (2) interplead all parties and deposit Earnest 746 Money into a court of competent jurisdiction (Earnest Money Holder is entitled to recover court costs and reasonable attorney and 747 legal fees incurred with such action); or (3) provide notice to Buyer and Seller that unless Earnest Money Holder receives a copy of 748 the Summons and Complaint or Claim (between Buyer and Seller) containing the case number of the lawsuit (Lawsuit) within one 749 hundred twenty days of Earnest Money Holder's notice to the parties. Earnest Money Holder is authorized to return the Earnest 750 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 751 of any Order, Earnest Money Holder must disburse the Earnest Money pursuant to the Order of the Court. The parties reaffirm the 752 obligation of § 23 (Mediation). This Section will survive cancellation or termination of this Contract. 753 25. TERMINATION. 754 25.1. Right to Terminate. If a party has a right to terminate, as provided in this Contract (Right to Terminate), the 755 termination is effective upon the other party's receipt of a written notice to terminate (Notice to Terminate), provided such written 756 notice was received on or before the applicable deadline specified in this Contract. if the Notice to Terminate is not received on or 757 betore the specified deadline, the party with the Right to Terminate accepts the specified matter, document or condition as satisfactory 758 and waives the Right to Terminate under such provision 759 25.2. Effect of Termination. In the event this Contract is terminated, all Earnest Money received hereunder will be returned 760 to Buyer and the parties are relieved of all obligations hereunder, subject to §§ 10.4, 22, 23 and 24. 761 26. ENTIRE AGREEMENT, MODIFICATION, SURVIVAL; SUCCESSORS. This Contract, its exhibits and specified 762 addenda, constitute the entire agreement between the parties relating to the subject hereof and any prior agreements pertaining 763 thereto, whether oral or written, have been merged and integrated into this Contract. No subsequent modification of any of the terms 764 of this Contract is valid, binding upon the parties, or enforceable unless made in writing and signed by the parties. Any right or 765 obligation in this Contract that, by its terms, exists or is intended to be performed after termination or Closing survives the same. 766 Any successor to a party receives the predecessor's benefits and obligations of this Contract. CBS4-S-l9. CONTRACT TO BUY AND SELL REAL ESTATE (LAND) I (/12/2019 7:45 Buyer Initials Seller Initials Page IS or I8 767 27. NOTICE, DELIVERY AND CHOICE OF LAW. 768 27.1. Physical Delivery and Notice. Any document, or notice to Buyer or Seller must be in writing, except as provided in 769 § 27.2 and is effective when physically received by such party, any individual named in this Contract to receive documents or notices 770 for such party, Broker, or Brokerage Firm of Broker working with such party (except any notice or delivery after Closing must be 771 received by the party, not Broker or Brokerage Firm). 772 27.2. Electronic Notice. As an alternative to physical delivery, any notice, may be delivered in electronic form to Buyer or 773 Seller, any individual named in this Contract to receive documents or notices for such party, Broker or Brokerage Firm of Broker 774 working with such party (except any notice or delivery after Closing must be received by the party, not Broker or Brokerage Firm) 775 at the electronic address of the recipient by facsimile, email or N/A. 776 27.3. Electronic Delivery. Electronic Delivery of documents and notice may be delivered by: (1) email at the email address 777 of the recipient, (2) a link or access to a website or server provided the recipient receives the information necessary to access the 778 documents, or (3) facsimile at the facsimile number (Fax No.) of the recipient. 779 27.4. Choice of Law. This Contract and all disputes arising hereunder are governed by and construed in accordance with 780 the laws of the State of Colorado that would be applicable to Colorado residents who sign a contract in Colorado for real property 781 located in Colorado. 782 28. NOTICE OF ACCEPTANCE, COUNTERPARTS. This proposal will expire unless accepted in writing, by Buyer and 783 Seller, as evidenced by their signatures below and the offering party receives notice of such acceptance pursuant to § 27 on or before 784 Acceptance Deadline Date and Acceptance Deadline Time. If accepted, this document will become a contract between Seller and 785 Buyer. A copy of this Contract may be executed by each party, separately and when each party has executed a copy thereof, such 786 copies taken together are deemed to be a full and complete contract between the parties. 787 29. GOOD FAITH. Buyer and Seller acknowledge that each party has an obligation to act in good faith including, but not limited 788 to, exercising the rights and obligations set forth in the provisions of Financing Conditions and Obligations; Title Insurance, 789 Record Title and Off -Record Title; New ILC, New Survey; and Property Disclosure, Inspection, Indemnity, Insurability, Due 790 Diligence, and Source of Water. 791 ADDITIONAL PROVISIONS AND ATTACHMENTS 792 30. ADDITIONAL PROVISIONS. (The following additional provisions have not been approved by the Colorado Real Estate 793 Commission.) 794 N/A 795 796 797 798 799 800 801 802 803 804 805 N/A 806 807 808 809 31. OTHER DOCUMENTS. 31.1. The following documents are a part of this Contract: N/A 31.2. The following documents have been provided but are not a part of this Contract: Buyer's Name: Weld Count.: y s Signature SIGNATURES ,bill Wald County Board of Coaaasae.oners Date CBS4-3-19. CONTRACT TO BUY AND SELL REAL ESTATE (LAND) 1 U12/2019 7:45 Buyer initials Seller initials Page 16 of 18 Address: Phone No.: Fax No.: Email Address: N/A N/A N/A N/A N/A 810 (NOTE: If this offer is being countered or rejected, do not sign this document.] 811 Seller's Name: Nike G Malone Seller's' Signature Address: Phone No.: Fax No.: Email Address: k• G Melon. 580O8 CR 23 Carr, CO 80612 N/A N/A N/A gh,ftwhi END OF CONTRACT TO BUY AND SELL REAL ESTATE 32. BROKER'S ACKNOWLEDGMENTS AND COMPENSATION DISCLOSURE. (To be completed by Broker working with Buyer) Broker 0 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 § 24, 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. Although Broker is not a party to the Contract, Broker agrees to cooperate, upon request, with any mediation requested under § 23. Broker is working with Buyer as a El Buyer's Agent n Transaction -Broker in this transaction. ❑ This is a Change of Status. Customer. Broker has no brokerage relationship with Buyer. See § 33 for Broker's brokerage relationship with Seller, Brokerage Firm's compensation or commission is to be paid by X Listing Brokerage Firm O Buyer ❑ Other N/A , Brokerage Firm's Name: Brokerage Firm's License #: Broker's Name: Broker's License #: Sear, Real S:ataca BC. 000016970 Jamison R. Walsh FA. 100078285 DocuSipn.d dy: 11/12/2019 I 12:33 PM MST 84 F3DAFCFCC5458 Broker's Signature: Date CBS4-5-19. CONTRACT TO BUY AND SELL REAL ESTATE (LAND) 11/12/2019 7:45 Buyer initials Sdier hdtiala Page 17 of t8 Address: Phone No.: Fax No.: Email Address: 2021 Clubhouse Dr Ste 100 Greeley, CO 80634 (970)330-7700 (970)330-4766 jam.isonesearsrealestate.com 33. BROKER'S ACKNOWLEDGMENTS AND COMPENSATION DISCLOSURE. (To be completed by Broker working with Seller) Broker ❑ Does NCDoes Not acknowledge receipt of Earnest Money deposit. Broker agrees that if Brokerage Firm is the Earnest Money Holder and, except as provided in § 24, 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 F.arnest Money Holder's receipt of the executed written mutual instructions, provided the Earnest Money check has cleared. Although Broker is not a party to the Contract, Broker agrees to cooperate, upon request, with any mediation requested under § 23. Broker is working with Seller as a ❑ Seller's Agent 1N6 Transaction -Broker in this transaction. ❑ This is a Change of Status. ❑ Customer. Broker has no brokerage relationship with Seller. See § 32 for Broker's brokerage relationship with Buyer. Brokerage Firm's compensation or commission is to be paid by X Seller ❑ Buyer CI Other N/A . Brokerage Firm's Name: Brokerage Firm's License #: Broker's Name: Broker's License #: Address: Phone No.: Fax No.: Email Address: 812 Acre Source Realty IC. 100070991 Oliv' - Cain 0 5 roker's Signa 2478 N 35th Ave Greeley, CO 80632 (303) 898-0577 N/A N/A 14/7 Da CBS4-5-19. CONTRACT TO BUY AND SELL REAL ESTATE (LAND) I l/t 2/2(119 7 45 Buyer initials Seller initials Page18or18 Christian S. Petersheim WHEN RECORDED RETURN TO: Weld County 1150 0 Street Greeley, CO 80631 File Number: 13833-3361832 WARRANTY DEED First American THIS DEED, Made this Eighteenth day of December, 2019, between Christian S. Petersheim of the County of Weld and State of Colorado, grantor, and Weld County whose legal address is 1150 0 Street, Greeley, CO 80631 of the County of Weld and State of Colorado, grantee: WITNESSETH, That the grantor, for and in consideration of the sum of TWO HUNDRED FIFTY FIVE THOUSAND AND NO/100 DOLLARS ($255,000.00), the receipt and sufficiency of which is hereby acknowledged, has granted, bargained, sold and conveyed, and by these presents does grant, bargain, sell, convey and confirm, unto the grantee, his heirs, successors and assigns forever, all the real property, together with improvements, if any, situate, lying and being in the County of Weld, State of Colorado, described as follows: LOT D, RECORDED EXEMPTION NO. 303-12-2 RECX19-0090, RECORDED NOVEMBER 13, 2019 AT RECEPTION NO. 4541211, COUNTY OF WELD, STATE OF COLORADO. also known by street and number as: 0 Weld County Road 23, Carr, CO 80612 TOGETHER with all and singular the hereditaments and appurtenances thereunto belonging, or in anywise appertaining and the reversion and remainders, rents, issues and profits thereof; and all the estate, right, interest, claim and demand whatsoever of the grantor, either in law or equity, of, in and to the above bargained premises, with the hereditaments and appurtenances. TO HAVE AND TO HOLD the said premises above bargained and described, with the appurtenances, unto the said grantee, his heirs and assigns forever. And the grantor, for himself, his heirs and personal representatives, does covenant, grant, bargain and agree to and with the grantee, his heirs and assigns, that at the time of the ensealing and delivery of these presents, he is well seized of the premises above conveyed, has good, sure, perfect, absolute and indefeasible estate of inheritance, in law, in fee simple, and has good right, full power and lawful authority to grant, bargain sell and convey the same in manner and form aforesaid, and that the same are free and clear from all former and other grants, bargains, sales, liens, taxes, assessments, encumbrances and restrictions of whatever kind or nature soever, and except general taxes for the current year and subsequent years, and subject to statutory exceptions. The grantor shall and will WARRANT AND FOREVER DEFEND the above -bargained premises in the quiet and peaceable possession of the grantee, his heirs and assigns, against all and every person or persons lawfully claiming the whole or any part thereof. The singular number shall include the plural, the plural the singular, and the use of any gender shall be applicable to all genders. IN W NESS HEREOF, The grantor has executed this deed on the date set forth above. Doc Fee: $25.50 Page 1 of 2 oZ-a/9- 78 State of Colorado County of Weld The foregoing instrument was acknowledged to before me this Eighteenth day of December, 2019 by Christian S. Petersheim. Witness my hand and official seal. My commission expires: EDWARD DW RDtarDy Public NoState of Colorado Notary ID # 20054000675 My Commission Expires 01-08-2021 Page 2 of 2 TD -1000 Confidential Document This form provides essential market information to the county assessor to ensure accurate, fair and uniform assessments for all property. This document is not recorded, is kept confidential, and is not available for public inspection. This declaration must be completed and signed by either the grantor (seller) or grantee (buyer). Questions 1, 2, 3, and 4 may be completed (prefilled) by a third party, such as a title company or closing agent, familiar with details of the transaction. The signatory should confirm accuracy before signing. This form is required when conveyance documents are presented for recording. If this form is not completed and submitted, the county assessor may send notice. If the completed and signed form is not returned to the assessor within 30 days of notice, the assessor may impose a penalty of $25.00 or 0.025% (0.00025) of the sale price, whichever is greater. Additional information as to the purpose, requirements, and level of confidentiality regarding this form are outlined in Colorado Revised Statutes, sections 39-14-102, 39-5-121.5, and 39-13-102. 1. Physical Address and/or legal description of the real property sold: Please do not use P.O. box numbers. 0 Weld County Road 23, Carr, CO 80612 LOT D, RECORDED EXEMPTION NO. 303-12-2 RECX19-0090, RECORDED NOVEMBER 13, 2019 AT RECEPTION NO. 4541211, COUNTY OF WELD, STATE OF COLORADO. 2. Type of property purchased: Commercial Industrial 3. 12/18/2019 Single Family Residential Townhome Agricultural Mixed Use Date of closing: 4. $ 255,000.00 mm/dd/yyyy Total Sale Price: include all real and personal property X Condominium Vacant Land Other 11/25/2019 Multi -Unit Residential $ Date of contract: mm/dd/yyyy Contracted price (if different from final sale price) 5. List any personal property included in the transaction that materially impacts the total sale price. Personal property may include, but is not limited to: machinery or equipment, vehicles, exceptional appliances, electronic devices, furniture, or anything that would not typically transfer with the real property (attach additional pages if necessary). Description Approximate Value Personal Property Total: $ If no personal property is listed, the entire purchase price will be assumed to be for the real property. 6. Did the total sale price include a trade or exchange of additional real or personal property? No Yes If Yes, approximate value of the goods or services as of the date of closing: $ If Yes, does this transaction involve a trade under IRS Code Section 1031? No Yes 7. Was 100% interest in the real property purchased? No n Yes Mark "No" if only a partial interest is being purchased. If No, interest purchased % 8. Is this a transaction between related parties or acquaintances? This includes persons connected by blood or marriage, or business affiliates, or those acquainted prior to the transaction. X No I I Yes 9. Please mark type of sale: X X Builder (new construction) X Public (MLS or Broker Representation) Private (For Sale By Owner) Other (describe) 10. Mark any of the following that apply to the condition of the improvements at the time of purchase. New Excellent Good Average Fair Poor Salvage 11. Type of financing: (mark all that apply) n None (all cash or cash equivalent) n New/Mortgage Lender (government -backed or conventional bank loan) New/Private Third Party (nonconventional lender, e.g., relative, friend, or acquaintance) n Seller (buyer obtained a mortgage directly from the seller) n Assumed (buyer assumed an existing mortgage) Combination or Other: Please explain 12. Total amount financed $ 13. Terms: Variable; Starting interest rate Length of time Balloon payment? No Yes If yes, amount $ Due date 0/0 years 14. Mark any that apply: Seller assisted down payments Fixed; Interest rate Seller concessions Special terms or financing If marked, please specify terms: 15. Was an independent appraisal obtained in conjunction with this transaction? X No Yes For properties OTHER THAN Residential (Residential is defined as: single family detached, townhomes, apartments and condominiums), please complete questions 16-18, if applicable. 16. Did the purchase price include a franchise or license fee? X No Yes If yes, franchise or license fee value $ 17. Did the purchase price involve an installment land contract? X No Yes If yes, date of contract 18. If this is vacant land, was an on -site inspection conducted by the buyer prior to the closing? No Please include any additional information concerning the transaction and price paid that you feel is important: X Yes gnature of Grant e(Buyer) /z% fy Date mm/ d/yyyy Barbara Kirkmeyer as Cheri for Weid County Printed name of Grantee Signature of Grantor (Seller) Date: mm/dd/yyyy Printed name of Grantor Buyer Mailing Address: Future correspondence (tax bills, property valuations, etc.) regarding this property should be mailed to: 1150 O Street Greeley CO 80631 Address (mailing) City State Zip Code Daytime Phone Email address Contact information is kept confidential, for County Assessor and Treasurer use only, to contact buyer with questions regarding this form, property valuation, or property tax information. Property Report Page 1 of 3 Property Information (970) 400-3650 Technical Support (970) 400-4357 Account: R0303986 December 4, 2019 Account Information Space Weld County PROPERTY PORTAL i Account Parcel R0303986 ( 030312200009 I j Agricultural I2019 Legal I 24002 NW4 12 10 67 (4R) Account I Tax Type r Year I, Buildings I Actual Assessed Value Value I 23,270 99I 6,750 • Subdivision ' Block i Lot Land Economic Area Property Address Property City Zip 7002 CARR Section Township 12 10 Account Owner Name R0303986 PETERSHEIM CHRISTIAN S Owner(s) Address 20651 COUNTY ROAD 96 PIERCE, CO 806509600 Document History https://propertyreport.co.weld.co.us/?account=R0303986 12/4/2019 Property Report Page 2 of 3 Reception 02090688 Rec Date Type 1 09-24-1986 QCN 02149693 07-28-1988 I QCN 02373868 i 02-14-1994 QCN Grantor Grantee t.. HILL 3681290 03-16-2010 QCN COLORADO FARM 3681291 3982955 03-16-2010 QCN 12-09-2013 QCN 4376347 i 02-20-2018 ! WD 4396062 4498171 HILL COLORADO FARM HILL YATES FARM LLC HILL YATES FARM LLC HILL YATES FARM LLC HILL COLORADO FARM LLC HARTLEY HILL COLORADO SCOTT B; 16.38 HARTLEY FARM LLC BECCA P 02-28-2010 i 0 Doc Fee Sale Date Sale Price 0.00 I 09-12-1986 0 0.00 I 07-25-1988 0 0.00 02-26-2010 0 0.00 0.00 05-03-2018 SURV j SURVEY 06-18-2019 ! WD HARTLEY SCOTT B; HARTLEY BECCA P 12-02-2013 0 02-16-2018 ! 163,800 SURVEY i 0.00 05-03-2018 PETERSHEIM CHRISTIAN S 0 28.80 i 06-13-2019 288,000 Building Information No buildings found. Type Land Valuation Information Code Description DRY FARM 4127 LAND- AGRICULTURAL .................................................................................. • Actual Value Assessed Value GRAZING 4147 LAND - AGRICULTURAL 173 23,270 6,700 50 6,750 Acres Land SqFt 142.300 6,198,588 I ' 13.700 596,772 156.000 6,795,360 https://propertyreport.co.weld.co.us/?account=R0303986 12/4/2019 Property. Report Page 3 of 3 Comparable sales for your Residential property may be found using our SALES SEARCH TOOL Tax Area Tax Authorities District District Name ID 0915 0700 0915 1050 0915 0514 ...............................:.................................. 0915 0209 0915 0100 0915 1200 Total AIMS JUNIOR COLLEGE HIGH PLAINS LIBRARY NUNN FIRE SCHOOL DIST RE9-AULT WELD COUNTY WEST GREELEY CONSERVATION Current Mill Levy 6.305 0.414 56.851 Copyright © 2019 Weld County, Colorado. All rights reserved. Privacy Policy & Disclaimer I Accessibility Information https://propertyreport.co.weld.co.us/?account=R0303986 12/4/2019 Tax Account <br> Page 1 of 1 Tax Account Summary Account Id R0303986 Parcel Number 030312200009 Owners HARTLEY SCOTT B HARTLEY BECCA P Address PO BOX 37 NUNN, CO 80648-0037 Situs Address Legal 24002 NW4 12 10 67 (4R) Inquiry As Of 12/04/2019 Payment Type O First Full Total Due $0.00 Value Area Id Mill Levy 0915 - 0915 56.8510000 Actual Assessed AG -DRY FARM LAND - 4127 25,897 7,510 AG -GRAZING LAND - 4147 163 50 Total Value 26,060 7,560 Taxes $429.80 The amount of taxes due on this page is based on last year's property value assessment. https://www.weldtax.com/treasurer/treasurerweb/account.jsp?account=R0303986 12/4/2019 Certificate Of Taxes Due Account Number R0303986 Parcel 030312200009 Assessed To HARTLEY SCOTT B PO BOX 37 NUNN, CO 80648-0037 Legal Description 24002 NW4 12 10 67 (4R) Year Tax Charge Certificate Number 197695 Order Number FAWE_3361832 Vendor ID 5 DATA TRACE 6834 S UNIVERSITY BLVD #502 CENTENNIAL, CO 80122-1515 Situs Address 2018 Total Tax Charge Grand Total Due as of 12/03/2019 Tax Interest Fees Payments $429.80 $0.00 $0.00 ($429.80) Balance $0.00 $0.00 $0.00 Tax Billed at 2018 Rates for Tax Area 0915 - 0915 Authority WELD COUNTY SCHOOL DIST RE9 NUNN FIRE AIMS JUNIOR COLLEGE HIGH PLAINS LIBRARY WEST GREELEY CONSERVATION Taxes Billed 2018 * Credit Levy Mill Levy 15.0380000* 27.8140000 4,0280000 6.3050000 3.2520000 0.4140000 Amount $113.70 $210.27 $30.45 $47.67 $24.58 $3.13 56.8510000 $429.80 Values AG -DRY FARM LAND AG -GRAZING LAND Total Actual $25,897 $163 Assessed $7,510 $50 $26,060 $7,560 WARNING - THIS TAX CERTIFICATE DOES NOT WARRANT ANY TAXES OWED ON UNDERLYING ACCOUNTS, INCLUDING PARENT OR SIBLING ACCOUNTS. ALL TAX LIEN SALE AMOUNTS ARE SUBJECT TO CHANGE DUE TO ENDORSEMENT OF CURRENT TAXES BY THE LIENHOLDER OR TO ADVERTISING AND DISTRAINT WARRANT FEES. CHANGES MAY OCCUR AND THE TREASURER'S OFFICE WILL NEED TO BE CONTACTED PRIOR TO REMITTANCE. TAX LIEN SALE REDEMPTION AMOUNTS MUST BE PAID BY CASH OR CASHIER'S CHECK. POSTMARKS ARE NOT ACCEPTED ON TAX LIEN SALE REDEMPTION PAYMENTS. PAYMENTS MUST BE IN OUR OFFICE AND PROCESSED BY THE LAST BUSINESS DAY OF THE MONTH. SPECIAL TAXING DISTRICTS AND THE BOUNDARIES OF SUCH DISTRICTS MAY BE ON FILE WITH THE BOARD OF COUNTY COMMISIONERS, THE COUNTY CLERK, OR THE COUNTY ASSESSOR. This certificate does not include land or improvements assessed under a separate account number, personal property taxes, transfer tax or misc. tax collected on behalf of other entities, special or local improvement district assessments or mobile homes, unless specifically mentioned. I, the undersigned, do hereby certify that the entire amount of taxes due upon the above described parcel of real property and all outstanding sales for unpaid taxes as shown by the records in my office from which the same may still be redeemed with the amount required for redemption are as noted herein. In witness whereof, I have hereunto set my hand and seal. TREASURER, WELD COUNTY, John R. Lefebvre, Jr. 1400 N. 17th Avenue Greeley, CO 80631 (970) 353-3845 Ext. 3290 Dec 3, 2019 8:31:21 AM Page 1 of 1 American Land Title Association ALTA Settlement Statement — Buyer Adopted 05-01-2015 File No.: 13833-3361832 Printed: 12/17/2019, 7:26 AM Officer/Escrow Officer: Edward De Herrera/ED Settlement Location: 200 East 7th Street, Suite 120, Loveland, CO 80537 First American Title Insurance Company 200 East 7th Street, Suite 120 • Loveland, CO 80537 Phone: (970)278-3100 Fax: Final Settlement Statement Property Address: 0 Weld County Road 23, Carr, CO 80612 Buyer: Weld County Seller: Christian S. Petersheim Lender: Settlement Date: 12/18/2019 Disbursement Date: 12/18/2019 Buyer Description Debit Credit Financial Sate Price 255,000.00 Total Deposit/Earnest Money 5,000.00 Prorations/Adjustments 2019 Property Taxes 01/01/19 to 12/18/19 @$383.74/yr 369,0≥ Title Charges & Escrow / Settlement Charges Escrow/Closing Fee to First American Title Insurance Company 170.00 Property Tax Certificate - Escrow Work Fee to First American Title Insurance Company 25.00 Government Recording and Transfer Charges Record Warranty Deed -First to Weld County Clerk and Recorder Paid by Others - Settlement Agent $23.00 State Doc Fee to Weld County Clerk and Recorder 25.50 Subtotals 255,220.50 5,369.02 Due From Buyer 249,851.48 Totals 255,220.50 255,220.50 Acknowledgement We/I have carefully reviewed the ALTA Settlement Statement and find it to be a true and accurate statement of all receipts and disbursements made on my account or by me in this transaction and further certify that I have received a copy of the ALTA Settlement Statement. We/I authorize First American Title Insurance Company to cause the funds to be disbursed in accordance with this statement. Copyright 2015 American Land Title Association. All rights reserved File ft 13833-3361832 Page 1 of 2 Printed on 12/17/2019 at 7:26 AM Buyer(s): Weld Cou By: arbara Kirkmeyer as air Read, reviewed for accuracy and approved Sears Real Esate son Walsh First Ameca \Title Insurance Company Es w Off4 : Edward DeHerrera Copyright 2015 American Land Title Association. All rights reserved File # 13833-3361832 Page 2 of 2 Printed on 12/17/2019 at 7:26 AM Exhibit "A" Legal Description Exhibit A, in its entirety, docurt� ents the legal description of the land referenced in the document. The legal description may extend'to multiple pages. The land referred to in this document is situated in the State of Colorado, County of Weld, and is described as follows: LOT D, RECORDED EXEMPTION NO. 303-12-2 RECX19-0090, RECORDED NOVEMBER 13, 2019 AT RECEPTION NO. 4541211, COUNTY OF WELD, STATE OF COLORADO. First American First American Title Insurance Company 200 East 7th Street, Suite 120 Loveland, CO 80537 Phn - (970)278-3100 Fax -LovelandEDocs@firstam.com Re: First American Title Insurance Company File No.: 13833-3361832 Date: December 17, 2019 Edward De Herrera Re: 0 Weld County Road 23, Carr, CO 80612 ("Property") Weld County ("Buyer") Christian S. Petersheim ("Seller") SETTLEMENT AGENT'S STATEMENT OF RECEIPT OF SELLER'S CERTIFICATE OF NON -FOREIGN STATUS I, Edward De Herrera, hereby certify to Weld County (buyer) that: a. I am the Settlement Agent in the above referenced transaction ("Transaction"); b. I am an employee of First American Title Insurance Company which is a "Qualified Substitute" under Internal Revenue Code (IRC) Section 1445(f)(6); and c. Pursuant to IRC Section 1445(b)(9), that each of the following seller or sellers, who are all of the sellers in the Transaction, has provided to me a completed copy of the Seller's Certificate of Non - Foreign Status pursuant to IRC Section 1445(b)(2): Christian S. Petersheim (Sellers) Executed under penalty of perjury at Loveland, CO on this Seventeenth day of December, 2019. (Settlement Agent's Signature) Note: Section 1445 of the Internal Revenue Code (IRC) provides that a transferee (buyer) of a U.S. real property interest must withhold tax if the transferor (seller) is a foreign person. Pursuant to IRC Section 1445(b)(2) no withholding is required if the transferor (seller) furnishes to the transferee (buyer) a non -foreign affidavit stating, under penalty of perjury, the transferor's United States taxpayer identification number and that the transferor is not a foreign person. Section 1445(b)(9) was added to the Internal Revenue Code (IRC) on July 30, 2008 in order to provide an alternative procedure for furnishing Non -Foreign Affidavits. The alternative procedure allows a seller to furnish the Non -Foreign Affidavit to a "qualified substitute" instead of the buyer so lorig as the qualified substitute furnishes a statement to the buyer stating, under penalty of perjury, that the qualified substitute is in possession of the Non -Foreign Affidavit. A qualified substitute is defined as the person (including any attorney or title company) responsible for closing the transaction, other than the seller's agent, and the buyer's agent. (See IRC § 1445(f)(6)). First American First American Title Insurance Company 200 East 7th Street, Suite 120 Loveland, CO 80537 Phn - (970)278-3100 Fax - Loveland EDocs@firstam.com The printed portions of this form, except differentiated additions, have been approved by the Colorado Real Estate Commission. (CL8-5-19) (Mandatory 7-19) THIS FORM HAS IMPORTANT LEGAL CONSEQUENCES AND THE PARTIES SHOULD CONSULT LEGAL AND TAX OR OTHER COUNSEL BEFORE SIGNING. CLOSING INSTRUCTIONS Date: December 17, 2019 1. PARTIES, PROPERTY. Christian S. Petersheim, (Seller), and Weld County, (Buyer), engage FIRST AMERICAN TITLE, (Closing Company), who agrees to provide closing and settlement services in connection with the Closing of the transaction for the sale and purchase of the Property known as No. , 0 Weld County Road 23 Street Address Carr City CO 80612 State Zip and more fully described in the Contract to Buy and Sell Real Estate, dated November 25, 2019, including any counterproposals and amendments (Contract). The Buyer's lender may enter into separate closing instructions with the Closing Company regarding the closing of the Buyer's loan. All terms of the Contract are incorporated herein by reference. In the event of any conflict between this Agreement and the Contract, this Agreement controls, subject to subsequent amendments to the Contract or this Agreement. 2. TITLE COMMITMENT, EXCEPTIONS AND POLICY. Closing Company [X] Agrees [] Does Not agree that: upon completion of a satisfactory title search and examination, it will furnish a Title Insurance Commitment; and it will issue a Title Insurance Policy provided that all requirements have been fulfilled. Closing Company [X] Agrees [] Does Not agree to furnish copies of Exceptions. 3. INFORMATION, CLOSING, RECORDING. Closing Company is authorized to obtain any information necessary for the Closing. Closing Company agrees to, deliver and record all documents required or customarily recorded, and disburse all funds pursuant to the Contract that are necessary to carry out the terms and conditions of the Contract. 4. PREPARATION OF DOCUMENTS. The Closing Company will prepare the necessary documents to carry out the terms and conditions of the Contract to include: 4.1. Deed. If the deed required in the Contract is a special warranty deed, general warranty deed, bargain and sale deed (excluding a personal representative's or trustee's deed) or a quit claim deed, the deed will be prepared in accordance with the Contract by the Closing Company. However, if the Contract requires a different form of deed (e.g.: personal representative's deed or trustee's deed) or requires that the special warranty deed or general warranty deed list exceptions other than the "statutory exceptions" as defined in §38- 30-113(5)(a), C.R.S., then the Buyer or Seller must provide the deed or written instructions for preparation of the deed to the Closing Company for Closing. For any Buyer or Seller provided deed or written instructions foi preparation of the deed that requires a list of exceptions other than the "statutory exceptions", the Buyer and Seller will hold the Closing Company harmless for any causes of action arising out of the use of such deed. The parties acknowledge that the real estate broker working with either the Buyer or the Seller Is not responsible for reviewing or approving any deed not prepared by the real estate broker. 4.2. Bill of Sale. If the transaction includes the sale of personal property (i.e. within the Contract or a Personal Property Agreement) from the Seller to the Buyer, Seller and Buyer authorize Closing Company to prepare the bill of sale conveying the personal property from the Seller to the Buyer as their scrivener. The Buyer and Seller understand that the bill of sale is a legal document and it is recommended that it be reviewed and approved by their respective attorneys. 4.3. Closing Statement. Closing Company will prepare and deliver accurate, complete and detailed closing statements to Buyer, Seller and the real estate brokers working with Buyer and Seller. Closing Statements will be prepared in accordance with the Contract and written instructions from the Buyer, Seller, lender or real estate brokers so long as such written instructions are not contrary to the Contract. If the written instructions are contrary to the Contract, the Buyer and Seller must execute an Agreement to Amend/Extend Contract. 5. CLOSING FEE. Closing Company will receive a fee of $340.00 for providing closing and settlement services (Closing Fee). 6. RELEASE, DISBURSEMENT. Closing Company is not authorized to release any signed documents or things of value prior to receipt and disbursement of Good Funds, except as provided in §§10, 11 and 12. 7. DISBURSER. Closing Company must disburse all funds, including real estate commissions, except those funds as may be separately disclosed in writing to Buyer and Seller by Closing Company or Buyer's lender on or before Closing. All parties agree that no one other than the disburser can assure that payoff of loans and other disbursements will actually be made. 8. SELLER'S NET PROCEEDS. Seller will receive the net proceeds of Closing as indicated: [] Cashier's Check, at Seller's expense [] Funds Electronically Transferred (wire transfer) to an account specified by Seller, at Seller's expenseg Closing Company's trust account check. 9. WIRE AND OTHER FRAUDS. Wire and other frauds occur in real estate transactions. Anytime Buyer or Seller is supplying confidential information, such as social security numbers, bank account numbers, transferring or receiving funds, Buyer and Seller should provide the information in person or in another secure manner. 10. FAILURE OF CLOSING. If Closing or disbursement does not occur on or before Closing Date set forth in the Contract, Closing Company, except as provided herein, is authorized and agrees to return all documents, monies and things of value to the depositing party, upon which Closing Company will be relieved from any further duty, responsibility or liability in connection with these Closing Instructions. In addition, any promissory mote, deed of trust or other evidence of indebtedness signed by Buyer will be voided by Closing Company, with the originals returned to Buyer and a copy to Buyer's lender. 11. RETURN OF EARNEST MONEY. Except as otherwise provided in §12 (Earnest Money Dispute), if the Earnest Money is being held by Closing Company and has not already been returned following receipt of a Notice to Terminate or other written notice of termination, Closing Company must release the Earnest Money al directed by written mutual instructions from the Buyer and the Seller. Such release of Earnest Money must be made within five days of Closing Company's receipt of the written mutual instructions signed by both Buyer and Seller, provided the Earnest Money check has cleared. 12. EARNEST MONEY DISPUTE. In the event of any controversy regarding the Earnest Money (notwithstanding any termination of the Contract), provided Closing Company is holding the Earnest Money, Closing Company is not required to take any action. Closing Company, at its option and sole subjective discretion, may: (1) await any proceeding, (2) interplead all parties and deposit Earnest Money into a court of competent jurisdiction and recover court costs and reasonable attorney and legal fees, or (3) provide notice to Buyer and Seller that unless Closing Company receives a copy of a Summons and Complaint or Claim (between Buyer and Seller) containing the case number of the lawsuit (Lawsuit) within one hundred twenty days of Closing Company's notice to the parties, Closing Company is authorized to return the Earnest Money to Buyer. In the event Closing Company does receive a copy of the Lawsuit, and has not interpled the monies at the time of any Order, Closing Company must disburse the Earnest Money pursuant to the Order of the Court. 13. SUBSEQUENT AMENDMENTS. Any amendments to, or termination of, these Closing Instructions must be in writing and signed by Buyer, Seller and Closing Company. 14. CHANGE IN OWNERSHIP OF WATER WELL. Within sixty days after Closing, Closing Company will submit any required Change in Ownership form or registration of existing well form to the Division of Water Resources in the Department of Natural Resources (Division), with as much information as is available. Closing Company is not liable for delaying Closing to ensure Buyer completes any required form. 15. FIRPTA AND COLORADO WITHOLDING. 15.1. FIRPTA. Seller agrees to cooperate with Buyer and Closing Company to provide any reasonably requested documents to determine Seller's foreign person status. If withholding is required, Seller authorizes Closing Company to withhold any required amount from Seller's proceeds and remit it to the Internal Revenue Service. 15.2. Colorado Withholding. Seller agrees to cooperate with Closing Company to provide any reasonably requested documents to determine Seller's status. If withholding is required under Colorado law, Seller authorizes Closing Company to withhold any required amount from Seller's proceeds and remit it to the Colorado Department of Revenue. 16. ADDITIONAL PROVISIONS. (The following additional provisions have not been approved by the Colorado Real Estate Commission.) 17. COUNTERPARTS. This document may be executed by each party, separately, and when each party has executed a copy, such copies taken together are deemed to be a full and complete contract between the parties. 18. BROKER'S COPIES. Closing Company must provide, to each real estate broker in this transaction, copies of all signed documents that such real estate brokers are required to maintain pursuant to the rules of the Colorado Real Estate Commission. Closing Company is authorized by both Buyer and Seller to deliver their respective Closing Statement to one or both real estate brokers involved in the transaction. 19. NOTICE, DELIVERY AND CHOICE OF LAW. 19.1. Physical Delivery and Notice. Any document, or notice to another party must be in writing, except as provided in §19.2 and is effective when physically received by such party. 19.2. Electronic Notice. As an alternative to physical delivery, any notice, may be delivered in electronic form to another party at the electronic address of the recipient by facsimile, email or 19.3. Electronic Delivery. Electronic Delivery of documents and notice may be delivered by. (1) email at the email address of the recipient, (2) a link or access to a website or server, provided date recipient receives the information necessary to access the documents or (3) facsimile at the facsimile number (Fax No.) of the recipient. 19.4. Choice of Law. These Closing Instructions and all disputes arising hereunder are governed by and construed in accordance with the laws of the State of Colorado that would be applicable to Colorado residents who sign a contract in Colorado for real property located in Colorado. SELLER(S): Date: / 2 Christian S. Petersheim Seller 1 Name: Address: Phone No.: Fax No.: Electronic Address: BUYER(S): / Date: ! 2_ Weld County Buyer 1 Name: Address: Phone No.: Fax No.: Electronic Address: Seller 2 Name: Buyer 2 Name: Address: Phone No.: Fax No.: Electronic Address: Address: Phone No.: Fax No.: Electronic Address: Closing Company's Name: First American Title Insurance Company Address: Phone No.: Fax No.: Electronic Address: ature Esc(uw a4-6 4J- lac , a . ?i/' Title Date 200 East 7th Street, Suite 120, Loveland, CO 80537 (970)278-3100 LovelandEDocs@firstam.com Broker •ign'ture First American Title Insurance Company 200 East 7th Street, Suite 120 Loveland, CO 80537 Phn - (970)278-3100 Fax - Loveland EDocs@firstam.com CONTINUATION OF CLOSING INSTRUCTIONS TO: First American Title Insurance Company FILE NO: 13833-3361832 RE: 0 Weld County Road 23, Carr, CO 80612 DATE: December 18, 2019 (TO BE COMPLETED ONLY BY BROKER AND CLOSING COMPANY) Closing Company shall pay Real Estate Commissions at disbursement as follows: Wire* Listing Brokerage: Check AX Nexus C $6,375.00 Selling Brokerage: Check i Wire* $7,650.00 Sears Real Estate 1 Brc5k r Signature *Additional instruction and signature may be required. Closing Company: First American Title Insurance Company Escrow Officer: Edward De Herrera Closing & Settlement Services General Provisions The parties understand and acknowledge: 1. SPECIAL DISCLOSURES: A. DEPOSIT OF FUNDS & DISBURSEMENTS Unless directed in writing to establish a separate, interest -bearing account together with all necessary taxpayer reporting information, all funds shall be deposited in general accounts in a federally insured financial institution including those affiliated with Closing Company ("depositories"). All disbursements shall be made by Closing Company's check or by wire transfer unless otherwise instructed in writing. Colorado good funds law (C.R.S. 38-35-125) mandates that Closing Company may not disburse funds until the funds have been received and are either: Available for immediate withdrawal as a matter of right from the financial institution in which the funds have been deposited; or available for immediate withdrawal as a consequence of an agreement of a financial institution in which the funds are to be deposited or a financial institution upon which the funds are to be drawn. B. DISCLOSURE OF POSSIBLE BENEFITS TO CLOSING COMPANY As a result of closing company maintaining its general escrow accounts with the depositories, closing company may receive certain financial benefits such as an array of bank services, accommodations, loans or other business transactions from the depositories ("collateral benefits"). All collateral benefits shall accrue to the sole benefit of closing company and closing company shall have no obligation to account to the parties to this escrow for the value of any such collateral benefits. C. MISCELLANEOUS FEES Closing Company may incur certain additional costs on behalf of the parties for services performed, or fees charged, by third parties. The fees charged by Closing Company for services including, but not limited tb, wire transfers, overnight delivery/courier services, recording fees, notary fees, etc. may be calculated in accordance with 24 Code of Federal Regulations Section 3500.8 which allows the use of an average charge for a settlement service of no more than the average amount paid for a settlement service as more fully outlined in the Regulations referred to above. D. METHOD TO DELIVER PAYOFF TO LENDERS/LIEN HOLDERS To minimize the amount of interest due on any existing loan or lien, Closing Company will deliver the payoff funds to the lender/lien holder in an expeditious manner as demanded by the lender/lien holder using (a) personal delivery, (b) wire transfer, or (c) overnight delivery service, unless otherwise directed in writing by the affected party. 2. PROBATIONS & ADJUSTMENTS The term "close of escrow" means the date on which all documents are mutually signed; the deed(s) are executed and delivered; and good funds have been received by the Closing Company. All proration's and/or adjustments shall be made to the close of escrow based on the number of actual days, unless otherwise instructed in writing. 3. INFORMATION FROM AFFILIATED COMPANIES Closing Company may provide the parties' information to and from its affiliates in connection with the offering of products and services from these affiliates. 4. RECORDATION OF DOCUMENTS Closing Company is authorized to record documents delivered through Closing Company which are necessary or proper for the issuance of the requested title insurance policy(ies). Buyer or Seller will provide a completed TD 1000. If Buyer or Seller fails to provide the TD 1000, Closing Company shall close this transaction and be released from any liability in connection with same. Buyer acknowledges that noncompliance may be subject to a penalty of $25 or .025% of the sale price, whichever is greater. Further the penalty may be imposed for any subsequent year that the Buyer fails to submit the declaration until the property is sold. Refer to 39-14-102(1)(b), C.R.S. ©2009 First American Title Insurance Company (1/22/09) 5. PERSONAL PROPERTY TAXES No examination, UCC search, insurance as to personal property and/or the payment of personal property taxes is required unless otherwise instructed in writing. 6. REAL PROPERTY TAXES Real property taxes are prorated based on instructions from the real estate contract utilizing information from the county asse$sor or county treasurer. Such proration shall be a final settlement unless otherwise agreed to in writing by buyer and seller. If the proration is not a final settlement, adjustments due either party based on the actual new tax bill issued after close of escrow will be made by the parties outside of escrow and Closing Company is released of any liability in connection with such adjustments. Colorado taxes are paid in arrears and can be paid on a semi-annual or annual basis. If paid on a semi-annual basis, the first installment of real property taxes is due the last day of February (delinquent March 19 and the second installment is due June 15th (delinquent June 16th). If paid on an annual basis, the payment of real property taxes is due April 30th (delinquent May 1st). Tax bills are sent from the County. If a tax bill is not received from the County at least 30 days prior to the due date, buyer should contact the County Treasurer directly and request one. Closing Company is not responsible for same. 7. PAYOFF DEMANDS: Closing Company will not be responsible or liable for the accuracy or completeness of any payoff demand statement that has been provided to the Closing Company for the purpose of closing this transaction. The Closing Company has acted in good faith in compiling the data and information contained in the various payoff demand statement(s). In the event transactions have occurred on your account(s) (i.e. escrow disbursement; insufficient funds; line of credit advance; HOA dues or any other creditor for which a payoff demand is requested) after the payoff demand statement is received and the escrow has closed, the party for whom the payoff is being made will, upon request of the Closing Company, immediately remit to the Closing Company any additional funds required to complete the payoff(s). 8. TERMINATION OF TRANSACTION (a) Any party desiring to terminate this transaction shall deliver written notice of termination to Closing Company. If closing does not occur, Closing Company, except as provided therein, is authorized and agrees to return all documents, monies, and things of value to the depositing party and Closing Company will be relieved from any further duty, responsibility or liability in connection with these instruments. In addition, any promissory note, deed of trust, or other evidence of indebtedness signed by Buyer, shall be voided by Closing Company, with the original(s) destroyed. 9. CONFLICTING INSTRUCTIONS & DISPUTES If any conflicting demands are made on the Closing Company concerning this transaction, Closing Company, at its sole discretion, may hold any monies, documents and things of value received from any party except Buyer's lender. Closing Company shall retain such items until (1) receipt of mutual written instructions from Buyer and Seller; or (2) until a civil action between Buyer and Seller shall have been finally concluded in a Court of competent jurisdiction; or (3) in the alternative, Closing Company may, in its sole discretion, commence a civil action to interplead, or interplead in any existing civil action, any documents, monies or other things of value received by the Closing Company, requiring the parties to litigate their claims/rights. If such an action is filed, the parties jointly and severally agree (a) to pay Closing Company's cancellation charges, costs and reasonable attorneys' fees, and (b) that Closing Company is fully released and discharged from all further obligations regarding the transaction. If an actlbn is brought involving this transaction and/or Closing Company, the party(ies) involved in the action agree to indemnify and hold the Closing Company harmless against liabilities, damages and costs incurred by Closing Company (including reasonable attorneys' fees and costs) except to the extent that such liabilities, damages and costs were caused by the negligence or willful misconduct of Closing Company. Form 1610 -CO 10. USURY Closing Company is not to be concerned with usury as to any loans or encumbrances in this escrow and is hereby released of any responsibility and/or liability therefore. 11. AMENDMENTS TO THE TRANSACTION Any amendment changing the terms of the transaction must be in writing, executed by all parties and delivered to the Closing Company prior to the closing. Closing Company may, at its sole option, elect to accept and act upon oral instructions from the parties, as long as such oral instructions are confirmed in writing as soon as practicable. 12. INSURANCE POLICIES In all matters relating to insurance, Closing Company may assume that each policy is in force and that the necessary premium has been paid. Closing Company is not responsible for obtaining fire, hazard or liability insurance. 13. COPIES OF DOCUMENTS; AUTHORIZATION TO RELEASE Closing Company is authorized to rely upon copies of documents, which include facsimile, electronic, NCR, or photocopies as if they were an originally executed document. If requested by Closing Company, the originals of such documents shall be delivered to Closing Company. Closing Company may withhold documents and/or funds due to the party until such originals are delivered. Documents to be recorded MUST contain original signatures. Closing Company may furnish copies of any and all documents to the lender(s), real estate broker(s), attorney(s) and/or accountant(s) involved in this transaction upon their request. Delivery of documents by Closing Company to a real estate broker or agent who is so designated in the purchase agreement shall be deemed delivery to the principal. 14. EXECUTION IN COUNTERPART The closing documents may be executed in one or more counterparts, each of which shall be deemed an original, and all of which taken together shall constitute the same instruction. 15. TAX REPORTING, WITHHOLDING & DISCLOSURE The parties are advised to seek independent advice concerning the tax consequences of this transaction, including but not limited to, their withholding, reporting and disclosure obligations. Closing Company does not provide tax or legal advice and the parties agree to hold Closing Company harmless from any loss or damage that the parties may incur as a result of their failure to comply with federal and/or state tax laws. WITHHOLDING OBLIGATIONS ARE THE EXCLUSIVE OBLIGATIONS OF THE PARTIES. CLOSING COMPANY IS NOT RESPONSIBLE TO PERFORM THESE OBLIGATIONS UNLESS CLOSING COMPANY AGREES IN WRITING. A. TAXPAYER IDENTIFICATION NUMBER REPORTING Federal law requires Closing Company to report seller's social security number or tax identification number (both numbers are hereafter referred to as the "TIN"), forwarding address, and the gross sales price to the Internal Revenue Service ("IRS"). To comply with the USA PATRIOT Act, certain taxpayer identification information (including, but not limited to, the TIN) may be required by Closing Company from certain persons or entities involved (directly or indirectly) in the transaction prior to closing. Escrow cannot be closed nor any documents recorded until the information is provided and certified as to its accuracy to Closing Company. The parties agree to promptly obtain and provide such information as requested by Closing Company. ©2009 First American Title Insurance Company (1/22/09) Closing & Settlement Services General Provisions B. STATE WITHHOLDING & REPORTING With certain exceptions, all sales of Colorado real property in excess of $100,000 made by nonresidents of Colorado will be subject to a withholding tax In anticipation of the Colorado income tax that will be due on the Lain from the sale. A transferor who is an individual, estate or trust will be subject to the withholding tax if either the federal Form 1099-S to be filed with the Intend Revenue Service to report the transaction or the authorization for the disburs®VRent of the funds resulting from the transaction shows a non -Colorado address 4Ythe transferor. A corporate transferor will be subject to the withholding tax if in*lFdiately after the transfer of the title to the Colorado real property interest, *Os no permanent place of business in Colorado. The withholding shall be made the title insurance company, or its authorized agent that provides closing and ent services a defined by 10-11-102 (3.5), C.R.S. The amount to be withh ll ll be the lessen of (a) two percent of the selling price of the property in or, (b) the net proceeds that would otherwise be due to the transfer shown on the settlement statement. Normally Colorado tax will be due on altransaction upon which gain will be recognized for federal income tax purposed3i; lain will normally be recognized for federal income tax purposes any time th@ setting price of the property exceeds the total of the taxpayer's adjusted basis in Ile property plus the expenses incurred in the sale of the property. The taxpayer's adjusted basis of the property will normally be the taxpayer's total investment in the property minus any depreciation thereon he has previously claimed for federal income tax purposes. Contact Colorado Department of Revenue: For additional information regarding this withholding, contact the Department of Revenue at (303) 238-7378, or visit the Department's website for information on DR 1083 and DR 1079 at hittp://www.coloradomovics/Satellite/Revenue/REVX/1176842266433 C. FEDERAL WITHHOLDING & REPORTING Certain federal reporting and withholding requirements exist for real estate transactions where the seller (transferor) is a non-resident alien, a non -domestic corporation, partnership, or limited liability company; or a domestic corporations partnership or limited liability company controlled by non-residents; or non-resident corporations, partnerships or limited liability companies. D. TAXPAYER IDENTIFICATION DISCLOSURE Federal and state laws require that certain forms include a party's TIN and that such forms or copies of the forms be provided to the other party and to the applicable governmental authorities. Parties to a real estate transaction involving seller -provided financing are required to furnish, disclose, and include the other party's TIN in their tax returns. Closing Company is authorized to release a party's TINs and copies of statutory forms to the other party and to the applicattle governmental authorities in the foregoing circumstances. The parties agree to hold Closing Company harmless against any fees, costs, or judgments incurred and/or awarded because of the release of their TIN as authorized herein. Form 1610 -CO Fitst American First American Title Insurance Company 200 East 7th Street, Suite 120 Loveland, CO 80537 Phn - (970)278-3100 Fax - Loveland EDocs@firstam.com TAX, WATER, SEWER & HOA AGREEMENT TO: FIRST AMERICAN TITLE INSURANCE COMPANY FILE NO: 13833-3361832 Property Address: 0 Weld County Road 23, Carr, CO 80612 Date: December 18, 2019 The undersigned Seller and/or Buyer, under penalty of perjury, hereby indemnify and hold First American Title Insurance Company harmless from any loss or claim that may arise from their reliance on the information provided herein as to the following: REAL ESTATE TAX AGREEMENT The undersigned Buyer and Seller instruct the Closing Company that the general taxes for the year of closing for the above referenced property have been prorated based on the following: [] Taxes for the calendar year immediately preceding closing in the amount of $ [X] Most recent Mill Levy and assessment [] Senior Citizen Exemption for the current year in the amount of $ Seller further warrants that the property IS NOT subject to pending tax protest and/or appeal. It is further agreed that the above adjustment(s) shall be: [X] [] [] Considered a final settlement Re -adjusted between the Buyer(s) and Seller(s) when the tax statement is available from the County Treasurer Re -adjusted between Buyer(s) and Seller(s) as to any changes in the unimproved land assessment or mill levy In the event Closing Company has been unable to verify payment of prior years' taxes, Closing Company will hold an amount sufficient to pay the taxes and all associated fees until verification of payment can be made; at which time the funds held will be applied toward payment and any excess refunded or if no payment is required refunded in full. Closing Company assumes no responsibility for the adjustment of special taxes or assessments or for the exception of these items in the conveyance. Seller(s) further warrant that special assessments, if any, affecting the subject property, including but not limited to Homeowners Association(s) dues or assessments are paid in full, except as reflected on the statements of settlement. Initials 5;/' Initials: WATER/SEWER/UTILITIES The following Utilities (Water, Sewer, Waste Water/Storm Drainage Company) apply to this property and are the only one(s) notified or transferred* to buyer through this closing. If other utility companies outside of what is listed below exist, the buyer and seller will settle any amounts due and the transfer of that utility outside of closing. Closing Company will not be responsible for the collection of payment or the transfer of any utility companies not listed below. *Note: Some utility companies require the buyer or seller to contact them directly to complete the transfer. Other: Seller and Buyer acknowledge and agree that the water and sewer account(s) are: [] Metered: Closing Company has ordered a final reading and is instructed to withhold from the Seller's proceeds $ pending receipt of a final water/sewer statement. Funds withheld in excess of the amount due on the final statement shall be returned to the Seller. The final reading will be ordered no later than the day after closing and the reading of the meter may take several days to complete, depending on the time frame of the utility company. [X] If funds held are insufficient to pay the final water/sewer statement in full, then Closing Company shall make a partial payment with the funds held; will mail to Seller and Buyer a copy of the check and final statement. Parties acknowledge and understand that Closing Company shall have no further responsibility and/or liability in connection with the remainder amount due. Closing Company has prorated the storm drainage assessment for the billing period from through in the amount of $ is: [] [] PAID [] DUE. [] Water and sewer is paid through the HOA dues. [X] Closing Company has not adjusted for water and sewer. Adjustment required will be made between the Buyer(s) and Seller(s) and are not a part of this closing. [] Property is well and septic; no adjustment or proration is required. A change of ownership form for the well will be submitted to the Division of Water Resources within 30 days of closing. HOMEOWNERS ASSOCIATION /METRO DISTRICT INDEMNITY The following Homeowners Association(s) (HOA) or Metro District(s) apply to this property and are the only one(s) transferred to buyer through this closing. If other HOA or Metro Districts outside of what is listed below exist, the buyer and seller will settle any amounts due and the transfer of that HOA or Metro District to Buyer outside of closing. Closing Company will not be responsible for the collection of payment or the transfer of any HOA or Metro Districts not listed below. HOA 1 Name HOA 1 Property Management Company HOA 2 Name HOA 2 Property Management Company Sellers have provided to Closing Company all necessary information as to any Homeowner Associations and/or Metro Districts affecting the subject property and the Closing Company has ordered the necessary status statements to bring all payments current as of the closing date. Seller represents that there are no unpaid charges and/or assessments that could result in a lien in favor of any Homeowner's Association or Metro District. If after closing the Closing Company becomes aware of a Homeowner Association or Metro District that was not disclosed to the Closing Company by the Seller, Seller will be responsible for payment of any charges not collected at closing. If there are additional transfer and/or status fees, either Buyer or Seller will be responsible for payment pursuant to the terms of the real estate contact. SELLER: 'Christian S. Petersheim BUYER: Weld County/ By: M4C�/,"( Barbara Kirkmeyerkis Chair First American First American Title Insurance Company 200 East 7th Street, Suite 120 Loveland, CO 80537 Phn - (970)278-3100 Fax - AFFIDAVIT AND INDEMNITY AGREEMENT RE: File No. 13833-3361832 1. This is written evidence to you that there are no unpaid bills for materials or labor furnished for construction and erection, repairs or improvements contracted by or on behalf of the undersigned and, to the extent that there may be such unpaid bills, that the undersigned undertakes and agrees to cause the same to be paid such that there shall be no mechanic's or materialmen's liens affecting the property located at 0 Weld County Road 23, Carr, CO 80612 and legally described as: LOT D, RECORDED EXEMPTION NO. 303-12-2 RECX19-0090, RECORDED NOVEMBER 13, 2019 AT RECEPTION NO. 4541211, COUNTY OF WELD, STATE OF COLORADO. 2. We further represent that there are no public improvements affecting the property prior to the date of closing that would give rise to a special property tax assessment against the property after the date of closing. 3. We further represent that there are no pending proceedings or unsatisfied judgments of record, in any Court, State, or Federal, nor any tax liens filed against us. That if there are any judgments, bankruptcies, probate proceedings, state or federal tax liens of record against parties with same or similar names, they are not against us. 4. We further represent that there are no unrecorded contracts, leases, easements, or other agreements or interests relating to said premises of which we have knowledge. 5. We further represent that we are in sole possession of the real property described herein. 6. We further represent that there are no unpaid charges and assessments that could result in a lien in favor of any association of homeowners which are provided for in any document referred to in Schedule B of Commitment referenced above. The undersigned affiant(s) know the matters herein stated are true and indemnifies First American Title Insurance Company against loss, costs, damages and expenses of every kind incurred by it by reason of its reliance on the statements made herein. This agreement is executed with and forms a part of the sale and/or financing of the above described premises, and is given in addition to the conveyance and/or financing of the premises in consideration for the conveyance and/or financing and forms a complete agreement by itself for any action thereon. Christian S. Petersheim State of Colorado County of Weld The foregoing instrument was acknowledged to before me this Eighteenth day of December, 2019 by Christian S. Petersheim. Witness my hand and official seal. My commission expires: Final Affidavit and Agreement EDWARDarDy Public NotState of Colorado Notary ID # 20054000675 My Commission Expires 01-08-2021 First American First American Title Insurance Company 200 East 7th Street, Suite 120 Loveland, CO 80537 Phn - (970)278-3100 Fax - AFFIDAVIT AND INDEMNITY AGREEMENT PURCHASER RE: File No. 13833-3361832 1. This is written evidence to you that there are no unpaid bills for materials or labor furnished for construction and erection, repairs or improvements contracted by or on behalf of the undersigned and, to the extent that there may be such unpaid bills, that the undersigned undertakes and agrees to cause the same to be paid such that there shall be no mechanic's or materialmen's liens affecting the property located at 0 Weld County Road 23, Carr, CO 80612 and legally described as: LOT D, RECORDED EXEMPTION NO. 303-12-2 RECX19-0090, RECORDED NOVEMBER 13, 2019 AT RECEPTION NO. 4541211, COUNTY OF WELD, STATE OF COLORADO. 2. We further represent that there are no pending proceedings or unsatisfied judgments of record, in any Court, State, or Federal, nor any tax liens filed against us. That if there are any judgments, bankruptcies, probate proceedings, state or federal tax liens of record against parties with same or similar names, they are not against us. 3. We further represent that there are no unrecorded contracts, leases, easements, or other agreements or interests relating to said premises of which we have knowledge. The undersigned affiant(s) know the matters herein stated are true and indemnifies First American Title Insurance Company against loss, costs, damages and expenses of every kind incurred by it by reason of its reliance on the statements made herein. This agreement is executed with and forms a part of the sale and/or financing of the above described premises, and is given in addition to the conveyance and/or financing of the premises in consideration for the conveyance and/or financing and forms a complete agreement by itself for any action thereon. Weld Cou, By, (4a! /Barbara Kirkmey=r as Chair State of Colorado )ss County of Weld The foregoing instrument was acknowledged to before me this f -4 , t c e vvv 1/ ,2019 by Barbara Kirkmeyer, the Chair of Weld County. Witness my hand and official seal. My commission expires: EDWARD DEHERRERA Notary Public State of Colorado Notary ID #20054000675 My Commission Expires 01-08-2021 a Order No: 13833-3361832 Date: December 17, 2019 LIMITED POWER OF ATTORNEY - BUYER That the Undersigned hereby appoints FIRST AMERICAN TITLE INSURANCE CORPORATION to be my attorney in fact to act for me only as to the matters stated below: Address of Property: 0 Weld County Road 23, Carr, CO 80612 Legal Description: LOT D, RECORDED EXEMPTION NO. 303-12-2 RECX19-0090, RECORDED NOVEMBER 13, 2019 AT RECEPTION NO. 4541211, COUNTY OF WELD, STATE OF COLORADO. Date of Closing: December 18, 2019 Name of Buyers: Weld County POWERS: In the event a clerical or typographical error is discovered on any document pertaining to this transaction, my agent is hereby authorized to correct any clerical or typographical errors and to initial, date, sign, seal and deliver on my act, any instrument which my agent determines to be necessary to effectuate the correction. Specifically, my agent may make a correction limited to the matters stated below on an original document and to authorize to rerecord that original document where appropriate. The undersigned declares that any and all corrections made by my agent shall be as valid as if they had been initiated, signed, dated and delivered by me personally. The undersigned ratifies whatsoever my said agent shall lawfully do or can cause to be done in the correction of clerical and typographical errors as limited below. LIMITATIONS: My agent is authorized to correct clerical and typographical errors as to the names of the parties to this transaction; the legal description or street address of the real property which the subject of this transaction; and the date of any document. My agent is not authorized to make any changes or corrections as to the interest rate stated on the deed of trust or promissory note; the amount of the principal indebtedness stated on the deed of trust or promissory note; or the amount of consideration stated on the deed. The Power of Attorney is made of my own free will and for the purpose of facilitating necessary corrections. The undersigned understands that signing this Power of Attorney is not mandatory. IN WITNESS WHEREOF, I have hereunto set my hand and seal this Eighteenth day of December, 2019. Weld County By' arbara Kirkmey r as Chair State of Colorado County of Weld ) )ss ) The foregoing instrument was acknowledged to before me this Eighteenth day of December, 2019 by Barbara Kirkmeyer, the Chair of Weld County. Witness my hand and official seal. My commission expires: EDWARDarDy Public tState of Colorado Notary ID # 20054000675 My Commission Expires 01-08-2021 Order No: 13833-3361832 Date: December 17, 2019 LIMITED POWER OF ATTORNEY - SELLER That the Undersigned hereby appoints FIRST AMERICAN TITLE INSURANCE CORPORATION to be my attorney in fact to act for me only as to the matters stated below: Address of Property: 0 Weld County Road 23, Carr, CO 80612 Legal Description: LOT D, RECORDED EXEMPTION NO. 303-12-2 RECX19-0090, RECORDED NOVEMBER 13, 2019 AT RECEPTION NO. 4541211, COUNTY OF WELD, STATE OF COLORADO. Date of Closing: December 18, 2019 Name of Sellers: Christian S. Petersheim POWERS: In the event a clerical or typographical error is discovered on any document pertaining to this transaction, my agent is hereby authorized to correct any clerical or typographical errors and to initial, date, sign, seal and deliver on my act, any instrument which my agent determines to be necessary to effectuate the correction. Specifically, my agent may make a correction limited to the matters stated below on an original document and to authorize to rerecord that original document where appropriate. The undersigned declares that any and all corrections made by my agent shall be as valid as if they had been initiated, signed, dated and delivered by me personally. The undersigned ratifies whatsoever my said agent shall lawfully do or can cause to be done in the correction of clerical and typographical errors as limited below. LIMITATIONS: My agent is authorized to correct clerical and typographical errors as to the names of the parties to this transaction; the legal description or street address of the real property which the subject of this transaction; and the date of any document. My agent is not authorized to make any changes or corrections as to the interest rate stated on the deed of trust or promissory note; the amount of the principal indebtedness stated on the deed of trust or promissory note; or the amount of consideration stated on the deed. The Power of Attorney is made of my own free will and for the purpose of facilitating necessary corrections. The undersigned understands that signing this Power of Attorney is not mandatory. IN WITNESS WHEREOF, I have hereunto set my hand and seal this Eighteenth day of December, 2019. Christian S. Petersheim State of Colorado )SS County of Weld The foregoing instrument was acknowledged before me this Eighteenth day of December, 2019 by Christian S. Petersheim. EDWARD DEHERRERA Notary Public State of Colorado Notary Ifl u 9nfFd00n675 My Commission Expires 01-08-2021 (seal) Commission expires Hello