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Home My WebLink About20194909.tiffRESOLUTION RE: APPROVE CONTRACT TO BUY AND SELL REAL ESTATE, AND SOURCE OF WATER ADDENDUM (0 CR 120, CARR) AND AUTHORIZE CHAIR PRO-TEM TO SIGN ALL NECESSARY DOCUMENTS - CHRISTIAN PETERSHEIM WHEREAS, the Board of County Commissioners of Weld County, Colorado, pursuant to Colorado statute and the Weld County Home Rule Charter, is vested with the authority of administering the affairs of Weld County, Colorado, and WHEREAS, the Board has been presented with a Contract to Buy and Sell Real Estate, and a Source of Water Addendum, regarding land being more particularly described as follows: 0 CR 120, Carr; Lot D of Recorded Exemption, RECX19-0090; being further described as part of the NW1/4 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 $255,000.00, is desirable for the use by the Department of Public Works for material mining and storage, and WHEREAS, after review, the Board deems it advisable to approve said contract and addendum, copies of which are attached hereto and incorporated herein by reference. NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of Weld County, Colorado, that the Contract to Buy and Sell Real Estate, and Source of Water Addendum, 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. cc% (3GCTT t SC%) 2019-4909 PR0036 CONTRACT TO BUY AND SELL REAL ESTATE AND SOURCE OF WATER ADDENDUM (0 CR 120, CARR) - CHRISTIAN PETERSHEIM PAGE 2 The above and foregoing Resolution was, on motion duly made and seconded, adopted by the following vote on the 2nd day of December, A.D., 2019. BOARD OF COUNTY COMMISSIONERS WELD COUNTY, COLORADO ATTEST: f/.r17"; Weld County Clerk to the Board BY: 14A4 -- Deputy Clerk to the Board APP F .QVED ' FORM ounty Attorney Date of signature: I2- /16 /19 Steve Moreno EXCUSED Barbara Kirkmeyer, Chair Mike Freeman, Pro-Tem C Sean P. Conway XCUSED ott K. James 2019-4909 PR0036 DocuSign Envelope ID: 5712C829-5848-4AF3-A1 EB-2F7FB35FCC91 28 known as No. Street Address 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. 1nclusios. The Purchase Price includes the following items (Inclusions): 33 205..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 2.5.2. Personal Property m Conveyance. Any personal property must be conveyed at Closing by Seller free and 41 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): 44 N/A 45 46 1 2 3 4 5 6 7 8 9 10 11 12 Sears Real Estate 2021 Clubhouse Drive Suite 100 Greeley, CO 80634 Phone: (970)330-7700 Fax: (970)330-4766 www.searsrealestale.com The printed portions of this form, except differentiated additions, have been approved by the Colorado Real Estate Commission. (CBS4-5-19) (Mandatory 7-19) THIS FORM HAS IMPORTANT LEGAL CONSEQUENCES AND THE PARTIES SHOULD CONSULT LEGAL AND TAX OR OTHER COUNSEL BEFORE SIGNING. ( CONTRACT TO BUY AND SELL REAL ESTATE (LAND) ( x Property with No Residences) Property with Residences —Residential Addendum Attached) Date: November 25, 2019 13 AGREEMENT 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. Weld County, (Buyer) will take title 18 to the Property described below as Joint Tenants 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. Christian S Petersheim (Seller) is the current 21 owner of the Property described below. 22 2.4. Property. The Property is the following legally described real estate in the County of Weld, Colorado: 23 Lot D Recorded Exemption No. 303-12-2 RECX19-0090 24 25 26 27 0 Weld County Road 120 Carr CO 80612 CBS4-5-19. CONTRACT TO BUY AND SELL REAL ESTATE (LAND) 11/22/2019 14:09 riaY Buyer initials Seller initials DS Page 1 of 18 t 2019-4909 DocuSign Envelope ID: 57120829-5848-4AF3-A1 EB-2F7FB35FCC91 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 N/A 2.7. Water Rights, Well Rights, Water and Sewer Taps. 17._1. Deeded Water Rights. The following legally described water rights: Any deeded water rights will be conveyed by a good and sufficient N/A deed at Closing. 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 and 2,7._5, will be transferred to Buyer at Closing: N/A 17.1 Well Rights. Seller agrees to supply required information to Buyer about the well. Buyer understands that if the well to be transferred is a "Small Capacity Well" or a "Domestic Exempt Water Well" used for ordinary household purposes, Buyer must, prior to or at Closing, complete a Change in Ownership form for the well. If an existing well has not been registered with the Colorado Division of Water Resources in the Department of Natural Resources (Division), Buyer must complete a registration of existing well form for the well and pay the cost of registration. If no person will be providing a closing service in connection with the transaction, Buyer must file the form with the Division within sixty days after Closing. The Well Permit # is N/A. N/A 2.7.4. Water Stock Certificates. The water stock certificates to be transferred at Closing are as follows: 2.7.5. Water and Sewer Taps. The parties agree that water and sewer taps listed below for the Property are being conveyed as part of the Purchase Price as follows: N/A If any water or sewer taps are included in the sale, Buyer is advised to obtain, from the provider, written confirmation of the amount remaining to be paid, if any, time and other restrictions for transfer and use of the taps. 2.7.6. Conveyance. If Buyer is to receive any rights to water pursuant to § 2.7.2 (Other Rights Relating to Water), § 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 Buyer by executing the applicable legal instrument at Closing. 2.8. Growing Crops. With respect to growing crops, Seller and Buyer agree as follows: N/A 83 3. DATES, DEADLINES AND APPLICABILITY 84 3.1. Dates and Deadlines. Item No. Reference Event Date or Deadline I § 4.3 I Alternative Earnest Money Deadline M'C -+- 3 Business Days Title 2 § 8.1, § 8.4 Record Title Deadline JDecember 12, 2019 3 § 8.2, § 8.4 Record Title Objection Deadline December 13, 2019 4 § 8.3 Off -Record Title Deadline !December 12, 2019 5 § 8.3 Off -Record Title Objection Deadline December 13, 201,E 6 § 8.5 Title Resolution Deadline !December 16, 2019 7 § 8.6 Right of First Refusal Deadline JN/A Owners' Association I t 8 I § 7.2 Association Documents Deadline N/A § 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 Addendum -Based Paint attached) Disclosure Deadline (if Residential N/A CBS4-5-19. CONTRACT TO BUY AND SELL REAL ESTATE (LAND) 11/22/2019 14:09 Buyer initials Seller initials DS rsP Page 2 of 18 DocuSign Envelope ID: 5712O829-5848-4AF3-A1 EB-2F7FB35FCC91 Loan and Credit 12 § 5.1 New Loan Application Deadline N/A 13 § 5.2 New Loan Termination 4vMW.'Y'.w.v.Wavn4hi,Wwawuaw:.LNv..L..wM.a+vi. Deadline �� N/A 14 MYM"W.,M61Ru.wNaWhvXFLaF.xNtNYuvXnvMx+unvvwv.vw•. § 5.3 .Buyer's Credit Information Deadline ••• N/A ry . 15 § 5.3 Disapproval of Buyer's Credit PWw.NW/,ti1 Information i'ndMNf+aM1�n.v... n • Deadline 4- N/. 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 F 20 § 6.2 Appraisal Deadline JN/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 9, 2019 24 § 9.3 New ILC or New Survey Objection Deadline December 11, 2019 25 ' § 9.3 New ILC or New Survey Resolution Deadline December 13, 2019 Inspection and Due Diligence _.. 26 § 10.3 Inspection Objection Deadline N/A 27 § 10.3 Inspection Termination Deadline / 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 9, 2019 31 § 10.6 Due Diligence Documents Objection Deadline !December 11, 2019 32 I R § 10.6 Due Diligence Documents Resolution Deadline December 13, 2019 33 ! § 10.6 Environmental Inspection Termination Deadline N/A 34 § 10,6 ADA Evaluation Termination Deadline -N/A 35 j § 10.7 Conditional Sale Deadline N/A 36 § 10.10 Lead Addendum -Based Paint attached) Termination Deadline (if Residential N/A 37 § 1 1,1,1 1.2 Estoppel Statements Deadline N/A 38 § 11.3 Estoppel Statements Termination Deadline N/A Closing and Possession 39 § 12.3 Closing Date December 18, 2019 4() § 17 Possession Date Delivery of Deed 41 § 17 Possession Time Time of Closing 42 § 28 Acceptance Deadline Date jNovember 27, 2019 43 § 28 Acceptance Deadline Time 12:00PM 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. 89 I'he 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: CBS4-5-19. CONTRACT TO BUY AND SELL REAL ESTATE (LAND) 11/22/2019 14:0€1 cDS Buyer initials Seller initials LENS Page 3 of 18 DocuSign Envelope ID: 5712O829-5848-4AF3-A1 EB-2F7FB35FCC91 Item No. Reference Item Amount Amount 1 § 4.1 Purchase Price $ 255, 000. 00 .rw .... 2 § 4.3 Earnest Money ' $ 5, 000.00 3 § 4.5 .§ New ... . f Loan xel+.Mvmvevw.mn�rARP vwar Mr nn.x. ` H. n+..xr raxa».xw.xrwwuarmw.w.e.. N/A 4._ a - . a. r 4.6 n._ Assumption Balance .M...�.. ..�� 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 9 § 4.4 I Cash at Closing � _.� $ 2.50, 0®0.00 10 I TOTAL I $ I 255, 000. 0 $ 255, 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 RE/MAX Nexus (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 4.3.1. 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 4.3.2. 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 111 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. 113 4.4. Form of Funds; Time of Payment; Available Funds. 114 404.1. 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 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, X Does 120 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. 0MI T TED AS INAPPLICABLE. 146 4.7. Seller t Private Financi; i . OMITTED AS INAPPLICABLE. 163 TRANSACTION PROVISIONS 164 5. FINANCING CONDITIONS AND OBLIGATIONS. 165 5.1. New Los n Application. If Buyer is to pay all or part of the Purchase Price by obtaining one or more new loans (New 1.66 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. 168 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 CBS4-5-19. CONTRACT TO BUY AND SELL REAL ESTATE (LAND) 11/22/2019 14:09 Buyer initials Seller initials cp Page 4 of 18 DocuSign Envelope ID: 5712C829-5848-4AF3-A1 EB-2F7FB35FCC91 169 170 171 172 173 174 I75 176 177 178 179 180 181 182 183 184 185 186 187 188 189 190 191 192 193 194 195 196 197 198 199 200 201 202 203 204 205 206 207 208 209 210 211 212 213 214 215 216 217 218 219 220 221 222 223 upon Buyer determining, in Buyer's sole subjective discretion, whether the New Loan is satisfactory to Buyer, including its availability, payments, interest rate, terms, conditions and cost. This condition is for the sole benefit of Buyer. Buyer has the Right to Terminate under § 25.1, on or before New Loan Termination Deadline, if the New Loan is not satisfactory to Buyer, in Buyer's sole subjective discretion. Buyer does not have a Right to Terminate based on the New Loan if the objection. is based on the Appraised Value (defined below) or the Lender Requirements (defined below). IF SELLER IS NOT IN DEFAULT AND DOES NOT TIMELY RECEIVE BUYER'S WRITTEN NOTICE TO TERMINATE, BUYER'S EARNEST MONEY WILL BE NONREFUNDABLE, except as otherwise provided in this Contract (e.g., Appraisal, Title, Survey). 5.3. Credit Information. If an existing loan is not to be released at Closing, this Contract is conditional (for the sole benefit of Seller) upon Seller's approval of Buyer's financial ability and creditworthiness, which approval will be in Seller's sole subjective discretion. Accordingly: (1) Buyer must supply to Seller by Buyer's Credit Information Deadline, at Buyer's expense, information and documents (including a current credit report) concerning Buyer's financial, employment and credit condition; (2) Buyer consents that Seller may verify Buyer's financial ability and creditworthiness; and (3) any such information and documents received by Seller 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 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 Seller disapproves of Buyer's financial ability or creditworthiness, in Seller's sole subjective discretion, Seller has the Right to Terminate under § 25.1, on or before Disapproval of Buyer's Credit Information Deadline. 5.4. Existing Loan Review. If an existing loan is not to be released at Closing, Seller must deliver copies of the loan documents (including note, deed of trust and any modifications) to Buyer by Existing Loan Deadline. For the sole benefit of Buyer, this Contract is conditional upon Buyer's review and approval of the provisions of such loan documents. Buyer has the Right to Terminate under § 25.1, on or before Existing Loan Termination Deadline, based on any unsatisfactory provision of such loan documents, in Buyer's sole subjective discretion. If the lender's approval of a transfer of the Property is required, this Contract is conditional upon Buyer obtaining such approval without change in the terms of such loan, except as set forth in § 4.6. If lender's approval is not obtained by Loan Transfer Approver1 Deadline, this Contract will terminate on such deadline. Seller has the Right to Terminate under § 25.1, on or before Closing, in Seller's sole subjective discretion, if Seller is to be released from liability under such existing loan and Buyer does not obtain such compliance as set forth in § 4.6. 6. APPRAISAL PROVISIONS. 6.1. Appraisal Definition. An "Appraisal" is an opinion of value prepared by a licensed or certified appraiser, engaged on behalf of Buyer or Buyer's lender, to determine the Property's market value (Appraised Value), The Appraisal may also set forth certain lender requirements, replacements, removals or repairs necessary on or to the Property as a condition for the Property to be valued at the Appraised Value. 6.2. Appraisal Condition. The applicable appraisal provision set forth below applies to the respective loan type set forth in § 4.5.3, or if a cash transaction (i.e. no financing), § 6.2.1 applies. 6.2.1. Conventional/Other. Buyer has the right to obtain an Appraisal. If the Appraised Value is less than the Purchase Price, or if the Appraisal is not received by Buyer on or before Appraisal Deadline Buyer may, on or before Appraisal Objection Deadline, notwithstanding § 8.3 or § 13: 6,2yL1. Notice to Terminate. Notify Seller in writing, pursuant to § 25.1, that this Contract is terminated; or 6.2.1.2. Appraisal Objection. Deliver to Seller a written objection accompanied by either a copy of the Appraisal or written notice from lender that confirms the Appraised Value is less than the Purchase Price (Lender Verification). 6.2.1.3. Appraisal Resolution. If an Appraisal Objection is received by Seller, on or before Appraisal Objection Deadline and if Buyer and Seller have not agreed in writing to a settlement thereof on or before Appraisal Resolution Deadline, this Contract will terminate on the Appraisal Resolution Deadline, unless Seller receives Buyer's written withdrawal of the Appraisal Objection before such termination, i.e., on or before expiration of Appraisal Resolution Deadline. 6.3. Lender Property Requirements. If the lender imposes any written requirements, replacements, removals or repairs, including any specified in the Appraisal (Lender Requirements) to be made to the Property (e.g., roof repair, repainting), beyond those matters already agreed to by Seller in this Contract, this Contract terminates on the earlier of three days following Seller's receipt of the Lender Requirements, or Closing, unless prior to termination: (1) the parties enter into a written agreement to satisfy the Lender requirements; (2) the Lender Requirements have been completed; or (3) the satisfaction of the Lender Requirements is waived in writing by Buyer. 6.4. Cost of Appraisal. Cost of the Appraisal to be obtained after the date of this Contract must be timely paid by X Buyer Seller. The cost of the Appraisal may include any and all fees paid to the appraiser, appraisal management company, lender's agent or all three. 7. ?WNERS' ASSOCIATION. This Section is applicable if the Property is located within a Common Interest Community and subject to the declaration (Association). 7.1. Common Interest Community Disclosure. THE PROPERTY IS LOCATED WITHIN A COMMON CBS4-5-19. CONTRACT TO BUY AND SELL REAL ESTATE (LAND) 11/22/2019 14:09 Buyer initials Seller initials Page 5 of 18 DocuSign Envelope ID: 5712C829-5848-4AF3-A1 EB-2F7FB35FCC91 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 OE TH.E 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 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 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, 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 7.3.2, collectively, Governing Documents); and 250 733. 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 7.3.5. 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 73.6. 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 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. CBS4-5-194 CONTRACT TO BUY AND SELL REAL ESTATE (LAND) 11/22/2019 14:09 Buyer initials Seller initials DS Page 6 of 18 DocuSign Envelope ID: 57120829-5848-4AF3-A1 EB-2F7FB35FCC91 280 8.1. Evidence of Record Title. 281 X 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, 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 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 Tide Commitment l Will !X 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, assessments and unredeemed tax sales prior to the year of Closing. Any additional premium expense to obtain OEC will be 295 paid by Buyer Seller 1 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). 300 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). 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. 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 or (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 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 (Off -Record Matters). This Section 328 excludes any New ILC or New Survey governed under § 9 (New IEC, 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 331 disclosed by Seller or revealed by such inspection, notwithstanding § 8.2 (Record Title) 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 § 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 CBS4-549. CONTRACT TO BUY AND SELL REAL ESTATE (LAND) 11/22/2019 14:09 ,- DS C Buyer initials —1; _ Seller initials _ . Page 7 of 18 DocuSign Envelope ID: 5712O829-5848-4AF3-A1 EB-2F7FB35FCC91 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 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 8.53. 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, are 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. 372 Seller must promptly notify Buyer in writing of the foregoing. If expiration or waiver of the right 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 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 8.71. 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 Oi 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 WATE 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 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. •IL 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. CBS4-5-19. CONTRACT TO BUY AND SELL REAL ESTATE (LAND) 11/22/2019 14:09 Buyer initials Seller initials P Page 80118 DocuSign Envelope ID: 5712C829-5848-4AF3-A1 EB-2F7FB35FCC91 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 8.73. 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). 402 403 404 405 406 407 408 409 410 N/A 411 412 413 414 415 416 417 418 419 420 421 422 423 424 425 426 427 428 429 430 431 9. NEW ILC, NEW SURVEY. 9.1. New ILC or New Survey. If the box is checked, a: 1) .__. New Improvement Location Certificate (New ILC); or, 2) X New Survey in the form of A.LTA Survey; is required and the following will apply: 9.1.1. Ordering of New ILC or New Survey. Seller X Buyer will order the New ILC or New Survey. The New II4C or New Survey may also be a previous ILC or survey that is in the above -required form, certified and updated as of a date after the date of this Contract. 9.1.,2. Payment for New ILC or New Survey. The cost of the New 1LC or New Survey will be paid, on or before Closing, by: Seller X Buyer or: 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. 9:14. 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 9.3.2. New ILC or New Survey Objection. Deliver to Seller a written description of any matter that was to be shown or is shown in the New ILC or New Survey that is unsatisfactory and that Buyer requires Seller to correct. 9.3.3. New ILC or New Survey Resolution. If a New ILC or New Survey Objection is received by Seller, on or before New ILC or New Survey Objection Deadline and if Buyer and Seller have not agreed in writing to a settlement thereof on or before New ILC or New Survey Resolution Deadline, this Contract will terminate on expiration of the New ILC or New Survey Resolution Deadline, unless Seller receives Buyer's written withdrawal of the New ILC or New Survey Objection before such termination, i.e., on or before expiration of New ILC or New Survey Resolution Deadline. 432 1 DISCLOSURE, INSPECTION AND DUE DILIGENCE 433 10. PROPERTY DISCLOSURE, INSPECTION, INDEMNITY, INSURABILITY, DUE DILIGENCE AND SOURCE OF 434 WATER. 435 1001. 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 '110 facts will be in writing. En 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 Teintinate based on the Seller's new disclosure on the earlier of Closing 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." 444 103. 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 (l) 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 CBS4-5-19. CONTRACT TO BUY AND SELL REAL ESTATE (LAND) 11/22/2019 14:09 Buyer initials /a) ---- rs Seller initials Page 9 of 18 DocuSign Envelope ID: 5712O829-5848-4AF3-A1 EB-2F7FB35FCC91 448 449 450 451. 452 453 454 455 456 457 458 459 460 461 462 463 464 465 466 467 468 469 470 471 472 473 474 475 476 477 478 479 480 481 482 483 484 485 486 487 488 489 490 491 492 493 494 495 496 497 498 499 500 501 502 503 504 (including utilities and communication services), systems and components of the Property (e.g., heating and plumbing), (4) any proposed or existing transportation project, road, street or highway, or (5) any other activity, odor or noise (whether on or off the Property) and its effect or expected effect on the Property or its occupants is unsatisfactory, in Buyer's sole subjective discretion, Buyer may: 10.3.1. Inspection Objection. On or before the Inspection Objection Deadline, deliver to Seller a written description of any unsatisfactory condition that Buyer requires Seller to correct; or 1.0.3.2. Terminate. On or before the Inspection Termination Deadline, notify Seller in writing, pursuant to § 25.1, that this Contract is terminated due to any unsatisfactory condition. Inspection Termination Deadline will be on the earlier of Inspection Resolution Deadline or the date specified in § 3.1 for Inspection Termination Deadline. 10.3.3. Inspection Resolution. If an Inspection Objection is received by Seller, on or before Inspection Objection Deadline and if Buyer and Seller have not agreed in writing to a settlement thereof on or before Inspection Resolution Deadline, this Contract will terminate on Inspection Resolution Deadline unless Seller receives Buyer's written withdrawal of the Inspection Objection before such termination, i.e., on or before expiration of Inspection Resolution Deadline, 10.4. Damage, Liens and Indemnity. Buyer, except as otherwise provided in this Contract or other written agreement between the parties, is responsible for payment for all inspections, tests, surveys, engineering reports, or other reports performed at Buyer's request (Work) and must pay for any damage that occurs to the Property and Inclusions as a result of such Work. Buyer must not per mit claims or liens of any kind against the Property for Work performed on the Property. Buyer agrees to indemnify, protect and hold Seller harmless from and against any liability, damage, cost or expense incurred by Seller and caused by any such Work, claim, or lien. This indemnity includes Seller's right to recover all costs and expenses incurred by Seller to defend against any such liability, damage, cost or expense, or to enforce this Section, including Seller's reasonable attorney fees, legal fees and expenses. The provisions of this Section survive the termination of this Contract. This § 10.4 does not apply to items performed pursuant to an Inspection Resolution. 10.5. Insurability. Buyer has the right to review and object to the availability, terms and conditions of and premium for property insurance (Property Insurance). Buyer has the Right to Terminate under § 25.1, on or before Property Insurance Termination Deadline, based on any unsatisfactory provision of the Property Insurance, in Buyer's sole subjective discretion. 10.6. Due Diligence. 10.6.1. Due Diligence Documents. If the respective box is checked, Seller agrees to deliver copies of the following documents and information pertaining to the Property (Due Diligence Documents) to Buyer on or before Due Diligence Documents Delivery Deadline: 10.6.1.1. 10.6.1.2. 10.6.1.3. All contracts relating to the operation, maintenance and management of the Property; Property tax bills for the last N/A years; As -built construction plans to the Property and the tenant improvements, including architectural, electrical, mechanical and structural systems; engineering reports; and permanent Certificates of Occupancy, to the extent now available; 1 X 10.6.1.5. 10.6.1.6. A list of all inclusions to be conveyed to Buyer; Operating statements for the past N/A years; A rent roll accurate and correct to the date of this Contract; 10.6.1,7. All current leases, including any amendments or other occupancy agreements, pertaining to the Property. Those leases or other occupancy agreements pertaining to the Property that survive Closing are as follows (Leases): CRP Lease through 9/2020 10.6.1.5. A schedule of any tenant improvement work Seller is obligated to complete but has not yet completed and capital improvement work either scheduled or in process on the date of this Contract; 10.6.1.9. All insurance policies pertaining to the Property and copies of any claims which have been made for the past N/A years; 10.6.1.10. Soils reports, surveys and engineering reports or data pertaining to the Property (if not delivered earlier under § 8.3); 10.6.1.11. Any and all existing documentation and reports regarding Phase I and II environmental reports, letters, test results, advisories and similar documents respective to the existence or nonexistence of asbestos, PCB transformers, or other toxic, hazardous or contaminated substances and/or underground storage tanks and/or radon gas. If no reports are in Seller's possession or known to Seller, Seller warrants that no such reports are in Seller's possession or known to Seller; 10.6.1.12. Any Americans with Disabilities Act reports, studies or surveys concerning the compliance of the Property with said Act; 10.6.1.13. All permits, licenses and other building or use authorizations issued by any governmental authority with jurisdiction over the Property and written notice of any violation of any such pei rnits, licenses or use authorizations, if any; and 10.6.1.14. Other documents and infoi illation: N/A CBS4-5-19. CONTRACT TO BUY AND SELL REAL ESTATE (LAND) 11/22/2019 14:09 Buyer initials Seller initials DS Page 10 of 18 DocuSign Envelope ID: 57120829-5848-4AF3-A1 EB-2F7FB35FCC91 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 10.6A. Due Diligence -. Environmental, ADA. Buyer has the right to obtain environmental inspections of the 522 Property including Phase I and Phase II Environmental Site Assessments, as applicable. Seller Buyer will order or provide 523 1 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 l 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 II 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 Tel ruination 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 543 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 (esidential Land and Residential Improvements Only). Buyer X 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. X There is No Well. Buyer Does F1 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 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. 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 alltenants 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 stating: C13S4-5-19. CONTRACT TO BUY AND SELL REAL ESTATE (LAND) 11/22/2019 14:09 Buyer initials Seller initials i�-DS i� Page 11 of 18 DocuSign Envelope ID: 57120829-5848-4AF3-A1 EB-2F7FB35FCC91 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 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 tee lens 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 Tei'innate 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 I 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 X Are 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 special warranty deed X general warranty deed bargain and sale deed quit claim deed 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 sped tied in § 30 (Additional Provisions), if title will be conveyed using a special warranty deed or a general 597 warranty deed, title will he conveyed "subject to statutory exceptions" as defined in § 38-30-1 13(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 AN D 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 Seller 606 x One -Half by Buyer and One -Half by Seller Other N/A . 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 (1 Seller One -Half by Buyer and One -Half by Seller. Any Record Change Fee must 610 be paid by X None Buyer Seller One -Half by Buyer and One -Half by Seller. CBS4-5.19. CONTRACT TO BUY AND SELL REAL ESTATE (LAND) 11/22/2019 14:09 DS Page 12 of 18 PBuyer initials seller initials DocuSign Envelope ID: 57120829-5848-4AF3-A1 EB-2F7FB35FCC91 611 612 613 614 615 616 617 618 619 620 621 622 623 624 625 626 627 628 629 630 631 632 633 634 635 636 637 638 639 640 641 642 643 644 645 646 647 648 649 650 651 652 653 654 655 656 657 15.4. Local Transfer Tax. The Local Transfer Tax of N/A % of the Purchase Price must be paid at Closing by [Xl None Buyer Seller One -Half by Buyer and One -Half by Seller. 15.5. Private Transfer Fee. Private transfer fees and other fees due to a transfer of the Property, payable at Closing, such as community association fees, developer fees and foundation fees, must be paid at Closing by IX None Buyer I Seller L One -Half by Buyer and One -Half by Seller. The Private Transfer fee, whether one or more, is for the following association(s): N/A in the total amount of N/A % of the Purchase Price or $ N/A . 15.6. Water Transfer Fees. The Water Transfer Fees can change. The fees, as of the date of this Contract, do not exceed $ N/A for: Water Stock/Certificates Water District Li Augmentation Membership Small Domestic Water Company N/A and must be paid at Closing by X None Buyer Seller 1 One -Half by Buyer and One -Half by Seller. 15.7, Sales and Use Tax. Any sales and use tax that may accrue because of this transaction must be paid when due by None Buyer Seller One -Half by Buyer and One -Half by Seller. 15.8. FIRPTA and Colorado Withholding. 1.5.85L FIRPTA. The Internal Revenue Service (IRS) may require a substantial portion of the Seller's proceeds be withheld after. Closing when Seller is a foreign person. If required withholding does not occur, the Buyer could be held liable for the amount of the Seller's tax, interest and penalties. If the box in this Section is checked, Seller represents that Seller IS a foreign 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 person for purposes of U.S. income taxation. Seller agrees to cooperate with Buyer and Closing Company to provide any reasonably requested documents to verify Seller's foreign person status. If withholding is required, Seller authorizes Closing Company to withhold such amount from Seller's proceeds. Seller should inquire with Seller's tax advisor to determine if withholding applies or if an exemption exists. 15.8.1 Colorado Withholding. The Colorado Department of Revenue may require a portion of the Seller's proceeds be withheld after Closing when Seller will not be a Colorado resident after Closing, if not otherwise exempt. Seller agrees to cooperate with Buyer and Closing Company to provide any reasonably requested documents to verify Seller's status. If withholding is required, Seller authorizes Closing Company to withhold such amount from Seller's proceeds. Seller should inquire with Seller's tax advisor to determine if withholding applies or if an exemption exists. X 16. PRORATI0NS AND ASSOCIATION ASSESSMENTS. The following will be prorated to the Closing Date, except as otherwise provided: 16.1. Taxes. Personal property taxes, if any, special taxing district assessments, if any and general real estate taxes for the year of Closing, based on Taxes for the Calendar Year Immediately Preceding Closing X Most Recent Mill Levy and Most Recent Assessed Valuation, Other N/A. 16.2. Rents. Rents based on Rents Actually Received Accrued. At Closing, Seller will transfer or credit to Buyer the security deposits for all Leases assigned, or any remainder after lawful deductions and notify all tenants in writing of such transfer 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 obligations under such Leases. 16.3. Association Assessments. Current regular Association assessments and dues (Association Assessments) paid in advance will be credited to Seller at Closing, Cash reserves held out of the regular Association Assessments for deferred maintenance by the Association will not be credited to Seller except as may be otherwise provided by the Governing Documents. Buyer acknowledges that Buyer may be obligated to pay the Association, at Closing, an amount for reserves or working capital. Any special assessment assessed prior to Closing Date by the Association will be the obligation of Buyer Li Seller. Except however, any special assessment by the Association for improvements that have been installed as of the date of Buyer's signature hereon, whether assessed prior to or after Closing, will be the obligation of Seller. Seller represents there are no unpaid regular or special assessments against the Property except the current regular assessments and N/A. Association Assessments are subject to change as provided in the Governing Documents. 16A. Other Prorations. Water and sewer charges, propane, interest on continuing loan, and N/A. 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 be additionally liable 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. CBS4-5-19. CONTRACT TO BUY AND SELL REAL ESTATE (LAND) 1 U22/2019 14:09 Buyer initials Seller initials DS Page 13 of 18 DocuSign Envelope ID: 57120829-5848-4AF3-A1 EB-2F7FB35FCC91 663 664 665 666 667 668 669 670 671 672 673 674 675 676 677 678 679 680 681 682 683 684 685 686 687 688 689 690 691 692 693 694 695 696 697 698 699 700 701 702 703 704 705 706 707 708 709 710 711 712 713 714 715 GENERAL PROVISIONS 18. DAY; COMPUTATION OF PERIOD OF DAYS, DEADLINE. 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 (Standard or Daylight Savings, as applicable). 18.2. Computation of Period of Days, Deadline. In computing a period of days (e.g., three days after MEC), when the 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 federal or Colorado state holiday (Holiday), such deadline X Will Will Not be extended to the next day that is not a Saturday, Sunday or Holiday. Should neither box be checked, the deadline will not be extended. 19. CAUSES OF LOSS, INSURANCE; DAMAGE TO INCLUSIONS AND SERVICES; CONDEMNATION; AND WALK-THROUGH. Except as otherwise provided in this Contract, the Property, Inclusions or both will be delivered in the condition existing as of the date of this Contract, ordinary wear and tear excepted. 19.1. Causes of Loss, Insurance. In the event the Property or Inclusions are damaged by fire, other perils or causes of loss 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 damage will be paid by insurance (other than the deductible to be paid by Seller), then Seller, upon receipt of the insurance proceeds, will use Seller's reasonable efforts to repair the Property before Closing Date, Buyer has the Right to Terminate under § 25.1, on or before Closing Date, if the Property is not repaired before Closing Date, or if the damage exceeds such sum. Should Buyer elect to carry out this Contract despite such Property Damage, Buyer is entitled to a credit at Closing for all insurance proceeds that were received by Seller (but not the Association, if any) resulting from damage to the Property and Inclusions, plus the amount of any deductible provided for in the insurance policy. This credit may not exceed the Purchase Price. In the event Seller has not received the insurance proceeds prior to Closing, the parties may agree to extend the Closing Date to have the Property repaired prior to 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 insurance company and Buyer's lender; or (2) the parties may enter into a written agreement prepared by the parties or their attorney requiring the Seller to escrow at Closing from Seller's sale proceeds the amount Seller has received and will receive due to such damage, not exceeding the total Purchase Price, plus the amount of any deductible that applies to the insurance claim. 19.2. Damage, Inclusions and Services. Should any Inclusion or service (including utilities and communication services), system, component or fixture of the Property (collectively Service) (e.g., heating or plumbing), fail or be damaged between the date of this Contract and Closing or possession, whichever is earlier, then Seller is liable for the repair or replacement of such Inclusion or Service with a unit of similar size, age and quality, or an equivalent credit, but only to the extent that the maintenance or replacement of such Inclusion or Service is not the responsibility of the Association, if any, less any insurance proceeds received by Buyer covering such repair or replacement. If the failed or damaged Inclusion or Service is not repaired or replaced on or before Closing or possession, whichever is earlier, Buyer has the Right to Terminate under § 25.1, on or before Closing Date, or, at the option of Buyer, Buyer is entitled to a credit at Closing for the repair or replacement of such Inclusion or Service. Such credit must not exceed the Purchase Price. If Buyer receives such a credit, Seller's right for any claim against the Association, if any, will survive Closing. 19.3. Condemnation. In the event Seller receives actual notice prior to Closing that a pending condemnation action may result in a taking of all or part of the Property or Inclusions, Seller must promptly notify Buyer, in writing, of such condemnation action. Buyer has the Right to Terminate under § 25.1, on or before Closing Date, based on such condemnation action, in Buyer's sole subjective discretion. Should Buyer elect to consummate this Contract despite such diminution of value to the Property and Inclusions, Buyer is entitled to a credit at Closing for all condemnation proceeds awarded to Seller for the diminution in the value of the Property or Inclusions but such credit will not include relocation benefits or expenses, or exceed the Purchase Price. 19.4. Walk -Through and Verification of Condition. Buyer, upon reasonable notice, has the right to walk through the Property prior to Closing to verify that the physical condition of the Property and Inclusions complies with this Contract. 19.5. Home Warranty. [Intentionally Deleted] 19.6. Risk of Loss - Growing Crops. The risk of loss for damage to growing crops by fire or other casualty will be borne 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 the growing crops. 20. RECOMMENDATION OF LEGAL AND TAX COUNSEL. By signing this Contract, Buyer and Seller acknowledge that the respective broker has advised that this Contract has important legal consequences and has recommended the examination of title and consultation with legal and tax or other counsel before signing this Contract. 21. TIME OF ESSENCE, DEFAULT AND REMEDIES. Time is of the essence for all dates and deadlines in this Contract. This means that all dates and deadlines are strict and absolute. if any payment due, including Earnest Money, is not paid, honored or tendered when due, or if any obligation is not performed timely as provided in this Contract or waived, the non -defaulting party has the following remedies: CBS4-5-19. CONTRACT TO BUY AND SELL REAL ESTATE (LAND) 11/22/20(9 14:09 S Buyer initials Seller initials Page 14 of 18 DocuSign Envelope ID: 57120829-5848-4AF3-A1 EB-2F7FB35FCC91 716 21.1. If Buyer is in Default: Y 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 as 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) inter lead allparties and deposit Earnest P P g y P P 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 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 Tel minate under such provision. 759 25x2. 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. 767 27. NOTICE, DELIVERY AND CHOICE OF LAW. CBS4-5-19. CONTRACT TO BUY AND SELL REAL ESTATE (LAND) 11/22/2019 (4:09 Buyer initials Seller initials [OSP DS Page 15 of 18 DocuSign Envelope ID: 57120829-5848-4AF3-A1 EB-2F7FB35FCC91 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 whenphysically received by such party, any individual named in this Contract to receivedocuments 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 E, 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 31. OTHER DOCUMENTS. 800 31.1. The following documents are a part of this Contract: 801 Recorded Exemption No. 303-12-2 RECX19-0090 802 803 804 31.2. The following documents have been provided but are not a part of this Contract: 805 N/A 806 807 808 809 Buyer's Name: Weld County fyer's Signature /4 B r..bara Kirke ,yer, Chair, Weld County Board of Commissioners Date CBS4-5-I9. CONTRACT TO BUY AND SELL REAL ESTATE (LAND) 11/22/2019 14:09 Buyer initials Seller initials c DS Page 16 of if DocuSign Envelope ID: 5712O829-5848-4AF3-A1 EB-2F7FB35FCC91 Address: 1150 0 Street Greeley, CO 80 631 Phone No.: N/A Fax No.: N/A Email Address: bkirkzneyereweldgov. com 810 [NO 811 OIMITOM E: If this offer is being countered or rejected, do not sign this document] Seller's Name: Christian S Petershe.im DocuSigned by: 11/25/2019 lethgNiguniatatre Address: Christian S Petersheim 20651 CR 96 Pierce, CO 80650 Phone No.: N/A Fax No.: N/A Email Address: N/A Seller's Signature Address: Phone No.: Fax No.: Email Address: Date Date END OF CONTRACT TO BUY AND SELL REAL ESTATE j 32. BROKER'S ACKNOWLEDGMENTS AND COMPENSATI*N DISCLOSURE. (To be completed by Broker working with Buyer) Broker - Does X, 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 Buyer's Agent I 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. CBS4-5-19. CONTRACT TO BUY AND SELL REAL ESTATE (LAND) 11/22/2019 0.4:09 Buyer initials Seller initials DS Page 17 of 18 DocuSign Envelope ID: 5712O829-5848-4AF3-A1 EB-2F7FB35FCC91 Brokerage Firm's compensation or commission is to be paid by Brokerage Firms Name: Brokerage Firm's License #: Broker's Name: Broker's License #: Address: Phone No.: Fax No.: Email Address: Sears Real Estate EC. 000016970 Jamison R. Walsh FA. 1000 78285 DocuSigned by: 84E3DAECECC5A58. Broker's Signature: X Listing Brokerage Firm Buyer Other N/A . 11/25/2019 112:39 PM MST 2021 Clubhouse Dr Ste 100 Greeley, CO 80634 (970) 330-7700 (970)330-4766 jamison@searsrealestate.com Date 33. BROKER'S ACKNOWLEDGMENTS AND COMPENSATION DISCLOSURE. (To be completed by Broker working with Seller) Broker Does 7 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 X Seller's Agent 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 Brokerage Firm's Name: Brokerage Finn's License #: Broker's Name: Broker's License #: Address: Phone No.: Fax No.: Email Address: 812 x Seller r Buyer I Other N/A . RE/MAX Nexus EC .100051228 Abigail Renner 40029855 DocuStgned by: llj+c cam11/25/2019 ',�≥i�:tu;: e Date 11409 Business Park Cir #200 Firestone, CO 80504 (970) 295---4760 (720) 247-9228 Aremner@nexusforsale.com CBS4-5-19. CONTRACT TO BUY AND SELL REAL ESTATE (LAND) 11/22/2019 14:09 Buyer initials bkev Seller initials ( DS 1Csp Page 18 of 18 DocuSign Envelope ID: AADBBFFA-5A01-42E5-8302-D21 D6AAF7BEA 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 RE/MAX Nexus 11409 Business Park Cr #200 Firestone, CO 80504 Phone: (970)295-4760 Fax: (720)247-9228 Homes@NexusForSale.com License # EC100051228 www.NexusForSale.com The printed portions of this form, except differentiated additions, have been approved by the Colorado Real Estate Commission. (SWA35-8-10) (Mandatory 1-11) THIS FORM HAS IMPORTANT LEGAL CONSEQUENCES AND THE PARTIES SHOULD CONSULT LEGAL AND TAX OR OTHER COUNSEL BEFORE SIGNING. SOURCE OF WATER ADDENDUM TO CONTRACT TO BUY AND SELL REAL ESTATE Date: September 23, 2019 1. ADDENDUM TO CONTRACT TO BUY AND SELL REAL ESTATE. This Source of Water Addendum (Addendum) is made a part of that Contract to Buy and Sell Real Estate between Seller and Buyer dated (Contract), for the purchase and sale of the Property known as No. TBD WC'R 120 2 0 rarer CO 80612 Street Address City State Zip 2. SOURCE OF POTABLE WATER. Seller discloses the following information for the source of potable water for the Property: [Select and complete 1, 2 or 3 as applicable.] 201. The Property's source of water is a Well. Well Permit #: If a well is the source of water for the Property, a copy of the current Well Permit Is Is Not attached. `i 7 J •D 2.2 The Water Provider for the Property can be contacted at: Name: Address: Web Site: _ Phone No.: 2.3. There is neither a Well nor a Water Provider for the Property. The source of water for the Property is [describe source]: :_el..1. c r a1. and well needed. NOTE TO BUYER: SOME WATER PROVIDERS RELY, TO VARYING DEGREES, ON NONRENEWABLE GROUND WATER. YOU MAY WISH TO CONTACT YOUR PROVIDER (OR INVESTIGATE THE DESCRIBED SOURCE) TO DETERMINE. THE LONG-TERM SUFFICIENCY OF THE PROVIDER'S WATER SUPPLIES. Buyer Date Buyer Date SWA35-8-10. SOURCE OF WATER ADDENDUM TO CONTRACT TO BUY AND SELL REAL ESTATE 9/23/2019 13:31 Page 1 of 2 DocuSign Envelope ID: AADBBFFA-5A01-42E5-8302-D21 D6AAF7BEA DacuSigned by: r -thou, paues6):144 4FB275490B17408... 9/23/2019 Seller Christian S. Petersheim Date 43 SWA35-8-100 SOURCE OF WATER ADDENDUM TO CONTRACT TO BUY AND SELL REAL ESTATE 9/23/2019 13:31 Page 2 of 2 DocuSign Envelope ID: AADBBFFA-5A01-42E5-8302-D21 D6AAF7BEA THIS DISCLOSURE HAS NOT BEEN APPROVED BY THE COLORADO REAL ESTATE COMMISSION. IT WAS PREPARED BY Frascona, Joiner, Goodman and Greenstein, P.C. (303-494-3000) AS LEGAL COUNSEL FOR RE/MAX Nexus © 2016 All rights reserved. !fairs) .rs"K't�1"n�z`in Why RE/MAX Nexus Will Not Be the Source for Your Wire Instructions 1. Criminals/hackers are trying to fake you into wiring money to them. 2. Criminals hack your email accounts and accounts of title agents, mortgage brokers, real estate agents, lawyers (and others) and send you emails that look like legitimate emails from the proper party, but instruct you to wire money to the accounts of the criminals. 3. Do not rely on entailed wiring instructions. We strongly recommend only relying on wiring instructions that come from a more secure source such as in -person communications, a phone call that you initiated, or through secure mail or package services. 4. Before you wire any funds to any party, personally call the intended recipient to confirm the accuracy of the ABA routing number, SWIFT code or credit account number. 5. When you call the source of wiring instructions in steps 3 & 4, you should call a number that you know is the correct number. You should not get that phone number from a source that can be easily forged (such as the phone number in an email or a phone number from a website). 6. MY BROKERAGE FIRM WILL NEVER PROVIDE YOU WIRING INSTRUCTIONS TO SEND MONEY TO OTHER COMPANIES. Though we do receive earnest money deposits, WE WILL ONLY PROVIDE INSTRUCTIONS FOR YOU TO WIRE FUNDS VIA A TELEPHONE CONVERSATION WITH EITHER OUR EMPLOYING BROKER OR OUR OFFICE MANAGER. If you receive an email providing wiring instruction that purport to come from us, it is a fraudulent email. 7. We strongly recommend that you, your lawyers and others working on a transaction, should refrain from placing any sensitive personal and financial information in an email or an email attachment. 8. When you need to share Social Security numbers, bank accounts, credit card numbers, wiring instructions or similar sensitive information, we strongly recommend using more secure means, such as providing the information in person, over the phone, or through secure mail or package services, whenever possible. OocuSigned by: OftViSfiadiA. ptIvestwiim \igellev5490B1 7408... 9/23/2019 (Date) uyer Seller (Date) (Date) Buyer (Date) Page 1of1 DocuSign Envelope ID: AADBBFFA-5A01-42E5-8302-D21 D6AAF7BEA 1 2 3 4 5 6 7 8 �MA RE/MAX Kral RE/MAX Nexus 11409 Business Park Cr #200 Firestone, CO 80504 Phone: (970)295-4760 Fax: (720)247-9228 Homes@NexusForSale.com License # EC100051228 www.NexusForSale.com The printed portions of this form, except differentiated additions, have been approved by the Colorado Real Estate Commission. (CL8-5-1.9) (Mandatory 7-19) THIS FORM HAS IMPORTANT LEGAL CONSEQUENCES AND THE PARTIES SHOULD CONSULT LEGAL AND TAX OR OTHER COUNSEL BEFORE SIGNING. CLOSING INSTRUCTIONS 9 10 11 1. PARTIES, PROPERTY. Christian S . Petersheim, ershe m, (Seller), 12 and 13 (Buyer), engage First American Ta t l e , (Closing 14 Company), who agrees to provide closing and settlement services in connection with the Closing of the transaction for the sale and 15 purchase of the Property 16 known as No. TED VCR 120 Carr Date: September 23, 2019 CO 80612 17 Street Address City State Zip 18 and more fully described in the Contract to Buy and Sell Real Estate, dated , including any 19 counterproposals and amendments (Contract). The Buyer's lender may enter into separate closing instructions with the Closing 20 Company regarding the closing of the Buyer's loan. All telins of the Contract are incorporated herein by reference. In the event of 21 any conflict between this Agreement and the Contract, this Agreement controls, subject to subsequent amendments to the Contract 22 or this Agreement. 23 2. TITLE COMMITMENT, EXCEPTIONS AND POLICY. Closing Company Agrees Does Not agree that: upon 24 completion of a satisfactory title search and examination, it will furnish a Title Insurance Commitment; and it will issue a Title 25 Insurance Policy provided that all requirements have been fulfilled. Closing Company X Agrees Does Not agree to furnish 26 copies of Exceptions. 27 3. INFORMATION, CLOSING, RECORDING. Closing Company is authorized to obtain any information necessary for 28 the Closing. Closing Company agrees to, deliver and record all documents required or customarily recorded, and disburse all funds 29 pursuant to the Contract that are necessary to carry out the terms and conditions of the Contract. 30 4. PREPARATION OF DOCUMENTS. The Closing Company will prepare the necessary documents to carry out the terms 31 and conditions of the Contract to include: 32 4.1. Deed. If the deed required in the Contract is a special warranty deed, general warranty deed, bargain and sale deed 33 (excluding a personal representative's or trustee's deed) or a quit claim deed, the deed will be prepared in accordance with the 34 Contract by the Closing Company. However, if the Contract requires a different form of deed (e.g.: personal representative's deed 35 or trustee's deed) or requires that the special warranty deed or general warranty deed list exceptions other than the "statutory 36 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 37 preparation of the deed to the Closing Company for Closing. For any Buyer or Seller provided deed or written instructions for 38 preparation of the deed that requires a list of exceptions other than the "statutory exceptions", the Buyer and Seller will hold the 39 Closing Company harmless for any causes of action arising out of the use of such deed. The parties acknowledge that the real 40 estate broker working with either the Buyer or the Seller is not responsible for reviewing or approving any deed not prepared by 41 the real estate broker. 42 4.2. Bill of Sale. If the transaction includes the sale of personal property (i.e. within the Contract or a Personal Property 43 Agreement) from the Seller to the Buyer, Seller and Buyer authorize Closing Company to prepare the bill of sale conveying the 44 personal property from the Seller to the Buyer as their scrivener. The Buyer and Seller understand that the bill of sale is a legal 45 document and it is recommended that it be reviewed and approved by their respective attorneys. CL8-5-19. CLOSING INSTRUCTIONS 9/23/2019 13:33 Page 1 of 4 DocuSign Envelope ID: AADBBFFA-5A01-42E5-8302-D21 D6AAF7BEA 46 4.3. Closing Statement. Closing Company will prepare and deliver accurate, complete and detailed closing statements 47 to Buyer, Seller and the real estate brokers working with Buyer and Seller. Closing Statements will be prepared in accordance with 48 the Contract and written instructions from the Buyer, Seller, lender or real estate brokers so long as such written instructions are 49 not contrary to the Contract. If the written instructions are contrary to the Contract, the Buyer and Seller must execute an 50 Agreement to Amend/Extend Contract. 51 5. CLOSING FEE. Closing Company will receive a fee of 52 settlement services (Closing Fee). Op to $500,00 for providing closing and 53 6. RELEASE, DISBURSEMENT. Closing Company is not authorized to release any signed documents or things of value 54 prior to receipt and disbursement of Good Funds, except as provided in §§ 10, 11 and 12. 55 7. DISBURSER. Closing Company must disburse all funds, including real estate commissions, except those funds as may be 56 separately disclosed in writing to Buyer and Seller by Closing Company or Buyer's lender on or before Closing. All parties agree 57 that no one other than the disburser can assure that payoff of loans and other disbursements will actually be made. 58 59 60 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 expense Company's trust account check. Closing 61 9. WIRE AND OTHER FRAUDS. Wire and other frauds occur in real estate transactions. Anytime Buyer or Seller is 62 supplying confidential information, such as social security numbers, bank account numbers, transferring or receiving funds, Buyer 63 and Seller should provide the information in person or in another secure manner. 64 10. FAILURE OF CLOSING. If Closing or disbursement does not occur on or before Closing Date set forth in the Contract, 65 Closing Company, except as provided herein, is authorized and agrees to return all documents, monies, and things of value to the 66 depositing party, upon which Closing Company will be relieved from any further duty, responsibility or liability in connection 67 with these Closing Instructions. In addition, any promissory note, deed of trust or other evidence of indebtedness signed by Buyer 68 will be voided by Closing Company, with the originals returned to Buyer and a copy to Buyer's lender. 69 11. p'.ETURN OF EARNEST MONEY. Except as otherwise provided in § 12 (Earnest Money Dispute), if the Earnest Money 70 is being held by Closing Company and has not already been returned following receipt of a Notice to Terminate or other written 71 notice of termination, Closing Company must release the Earnest Money as directed by written mutual instructions from the Buyer 72 and the Seller. Such release of Earnest Money must be made within five days of Closing Company's receipt of the written mutual 73 instructions signed by both Buyer and Seller, provided the Earnest Money check has cleared. 74 12. EARNEST MONEY DISPUTE. In the event of any controversy regarding the Earnest Money (notwithstanding any 75 termination of the Contract), provided Closing Company is holding the Earnest Money, Closing Company is not required to take 76 any action. Closing Company, at its option and sole subjective discretion, may: (1) await any proceeding, (2) interplead all parties 77 and deposit Earnest Money into a court of competent jurisdiction and recover court costs and reasonable attorney and legal fees, or 78 (3) provide notice to Buyer and Seller that unless Closing Company receives a copy of a Summons and Complaint or Claim 79 (between Buyer and Seller) containing the case number of the lawsuit (Lawsuit) within one hundred twenty days of Closing 80 Company's notice to the parties, Closing Company is authorized to return the Earnest Money to Buyer. In the event Closing 81 Company does receive a copy of the Lawsuit, and has not interpled the monies at the time of any Order, Closing Company must 82 disburse the Earnest Money pursuant to the Order of the Court. 83 13. SUBSEQUENT AIMIENDMENTS. Any amendments to, or termination of, these Closing Instructions must be in writing 84 and signed by Buyer, Seller and Closing Company. 85 14. CHANGE IN OWNERSHIP OF WATER WELL. Within sixty days after Closing, Closing Company will submit any 86 required Change in Ownership form or registration of existing well form to the Division of Water Resources in the Department of 87 Natural Resources (Division), with as much information as is available. Closing Company is not liable for delaying Closing to 88 ensure Buyer completes any required form. 89 15. FIRPTA AN COLORADO WITHHOLDING. 90 15.1. FIRPTA. Seller agrees to cooperate with Buyer and Closing Company to provide any reasonably requested 91 documents to determine Seller's foreign person status. If withholding is required, Seller authorizes Closing Company to withhold 92 any required amount from Seller's proceeds and remit it to the Internal Revenue Service. 93 15.2. Colorado Withholding. Seller agrees to cooperate with Closing Company to provide any reasonably requested 94 documents to deter mine Seller's status. If withholding is required under Colorado law, Seller authorized Closing Company to 95 withhold any required amount from Seller's proceeds and remit it to the Colorado Department of Revenue. CLS-5-190 CLOSING INSTRUCTIONS 9/23/2019 13:33 Page 2 of 4 DocuSign Envelope ID: AADBBFFA-5A01-42E5-8302-D21 D6AAF7BEA 96 16. ADDITIONAL PROVISION S. (The following additional provisions have not been approved by the Colorado Real Estate 97 Commission.) 98 99 100 101 17. COUNTERPA ►, TS. This document may be executed by each party, separately, and when each party has executed a copy, 102 such copies taken together are deemed to be a full and complete contract between the parties. 103 18. BROKER'S COPIES. Closing Company must provide, to each real estate broker in this transaction, copies of all signed 104 documents that such real estate brokers are required to maintain pursuant to the rules of the Colorado Real Estate Commission. 105 Closing Company is authorized by both Buyer and Seller to deliver their respective Closing Statement to one or both real estate 106 brokers involved in the transaction. 107 19. NOTICE, DELIVERY AND CHOICE OF LAW. 108 1901° Physical Delivery and Notice. Any document, or notice to another party must be in writing, except as provided in 109 § 19.2 and is effective when physically received by such party. 110 19.2. Electronic Notice® As an alternative to physical delivery, any notice, may be delivered in electronic form to another 111 party at the electronic address of the recipient by facsimile, email or 112 19.3. Electronic Delivery. Electronic Delivery of documents and notice may be delivered by: (1) email at the email 113 address of the recipient, (2) a link or access to a website or server, provided the recipient receives the information necessary to 114 access the documents or (3) facsimile at the facsimile number (Fax No.) of the recipient. 115 19.4. Choice of Law. These Closing Instructions and all disputes arising hereunder are governed by and construed in 116 accordance with the laws of the State of Colorado that would be applicable to Colorado residents who sign a contract in Colorado 117 for real property located in Colorado. Buyer's Name: Buyer's Name Buyer's Signature Address: Phone No: Fax No.: Email Address: 1141412A., 11 t_stle/ 9 I ate Buyer's Name Buyer's Signature Address: Phone No.: Fax No.: Email Address: Date Seller's Name: Chri sti es S. Pe.tersheim CL8m5-I9. CLOSING INSTRUCTIONS 9/23/2019 13:33 Page 3 of 4 DocuSign Envelope ID: AADBBFFA-5A01-42E5-8302-D21 D6AAF7BEA Address: Phone No.: Fax No.: Email Address: DocuSigned by: (Lvis+iMtauvistiou Pth1sta144 4FB275490B17408_.. 9/23/2019 Seller's Signature: Christian S. Petersheim 20651 CR 96 Pierce, CO 80650 Date e arns@yahoo a co Closing Company's Name: First American Ti t l e Address: Phone No.: Fax No.: Email Address: Authorized Signature Title Date CL8-5-190 CLOSING INSTRUCTIONS 9/23/2019 13:33 Page 4 of 4 Hello