The URL can be used to link to this page

Browse Search

Home My WebLink About20160024.tiffCERTIFICATE OF CONVEYANCES STATE OF COLORADO COUNTY OF WELD WELD COUNTY DEPARTMENT OF PLANNING SERVICES Land Title Order No.: CERVANTES/GARCIA The Land Title Guarantee Company (TITLE INSURANCE or ABSTRACT COMPANY) hereby certifies that it has made a careful search of its records, and finds the following conveyances affecting the real estate described herein since August 30, 1972, and the most recent deed recorded prior to August 30, 1972. Legal Description: LOT A RECORDED EXEMPTION NO. 1477-24-1 RE -3588, ACCORDING TO MAP RECORDED OCTOBER 31, 2003 AT RECEPTION NO. 3122407, BEING A PART OF THE N1/2 OF THE NE1/4 OF SECTION 24, TOWNSHIP 1 NORTH, RANGE 63 WEST OF THE 6TH P. M., COUNTY OF WELD, STATE OF COLORADO. CONVEYANCES (if none appear, so state): Book 1227 Page 544 Book 1378 Page 179 Book 1916 Page 385 Book 710 Reception No. 1631630 Book 1066 Reception No. 2007372 Book 1589 Reception No. 2530913 Reception No. 3060607 Reception No. 3254066 This Certificate is made for the use and benefit of the Department of Planning Services of Weld County, Colorado. This Certificate is not to be construed as an Abstract of Title, nor an opinion of Title, nor a guarantee of Title, and the liability of Land Title Guarantee COMPANY, is hereby limited to the fee paid for this Certificate. It Witness Whereof, Land Title Guarantee COMPANY, has caused this certificate to be signed by its proper officer this 14th day of August, 2015 at 5:00 o'clock P.M. LAND TITLE GUAR TEE COMPANY By: ji•_t1 HOOK 1427 PAGE 544 Recorded at.... Reception No ti331.()_i. atela±a-• xi 9AAY 251948 SIM..WM =.. Rea r,ier. Aria 4i5nb, Made this 24th day of May year of our Lord one thousand nine hundred and forty—eight , between OLLIE L. OLINGER - county of Weld ]BIKE C. KLAUSNER and TILLIC KLAUSNER of the Colorado, of the first part, and in the and State of of the County of Weld and State of Colorado, of the second part: WITNESSED!, that the said part 3' of the first part, for and In consideration of the aura cf Ten dollars and other good and valuable consideration --- Dn'LARS to the said part y of the first part in hand paid by the said parties of the second pert, the receipt whereof is hereby confessed and acknowledged, he S granted, bargained, sold and conveyed, and by these presents do e g grunt, bargain, sell, convey and confirm unto the said parties of the second part, not in tenancy in common but in joint tenancy, the survivor of them, their assigns and the heirs and assigns of such survivor forever, all the following described lot or parcel of land, situate, lying and being in the County of Weld and State of Colorado, to -wit: The Northeast Quarter (NE) of Section Twenty-four (24) Township One (1) North Range Sixty-three (63) Vest of the 6th 2rincipal Meridian, contQtni•n 16o acres more or less, TOGETHER with all and singular the hereditament,. and appurtenances thereunto belonging, or In anywise appertaining, and the reversion and reversions, remainder and remainders, rents, issues and profits thereof; and all the estate, right, title, interest, claim and demand whatsoever of the said port y of the first part, either in law or equity, of, in and to the above bargained premises, with the hemrlitaments and apparrenances. TO HAVE AND TO HOLD the said premises above bargained and described, with the appnatenasdes, into the said parties of the second part, the survivor of them, their assigns, and the heirs and assigns of such aarviver, for- ever. And the said part 'J of the first part, for her ad f , her heirs, executors; and administrators do a s covenant, grant, bargain and agree to and with the said parties of the second part, the survivor of their), their assin end the heirs end assigns of such survivor, that at the time of the ensenling and delivery of these presents, is well seized of the premises above conveyed, as of goad, sum, perfect, absolute and indefeasible estate of inheritance, in law, in fee simple, and ha fl good right, full power and lawful s tter]ty to grant, bar- gain, sell and convey the same in manner and lona aforesaid, and that the same era free and deer Iran all former and other grants, bargains, sales, liens, taxes, assessments and incmnbranees of whatever bird or nature soever, except the 1948 general taxes, and the above bargained premises in the quiet and peaceable possession of the said parties of the second part, the survivor of them, their assigns and the heirs and assigns of such survivor, against all and every person or persons lawfully claiming or to claim the whole or any part thereof, the said part y of the first part shall and will WARRANT AND FOREVER DEFEND. IN WITNESS WHEREOF the said part y of the first part ha 9 hereunto tether the hunt end soul LE ...cts ] LIE L ❑L.UGER_,R // E'AL] day and year first above written. Signed, Sealed and Delivered in the Presence of [SEAL] [SEAL] STATE OF COLORADO, County c_ I SEAL] 1� Tire foregoing instrument was acknowledged before me this 24th A. 5, fir /48 , bye Ollie I�LJ. Olinger My commieeion expires 9 „Ft . Witness my bond and official seal. (24`tiY2tir� GGLti�t2G .. day of -.lay, SEAL] No. 92L WARRANTY OPEo—Te'Jul;i!Thews=TN aeoaew,-a.btoas. Pt.. 00. Ws, Roblwon•. Legal nacre. nenva. ell by natured pennn or reforms here Insert 1141. ornames: If by person actin' In representative e- official puelly rue eteonel'•In.feel. then Ineeee fulno f paean e. uter allures c-In-fct cc other a ellp r de scnlpl lea;lby fnl of Car- maloeolotthin p soar . seine elof nest officer. Sr:picker.. thepresident or other erfleere- of oath Corporation. naming lh—Siocufors gm tIou S1tLD, Inc. LG SKL11751 WE 1033104-1948.001 Font, 17 1100K1378 C7 PAGE 1/9 y/ ofe2 6 1953 STATE OF COLORADCReco,ded at_� DEPARTMENT OF LAW -°_ A.';'. ;'i 3i INHERITANCE TAX Di FISH ? • RELEASE OF INHERITANCE TAX LIEN Estate of MIKE C KLAUSNER A/K/A M C KLAUSNER Date of Death MARCH 20, 1953 Ann Sponsor, Recordist Gross Estate $ lS,..R6.7..Fa* It appearing to the attorney general that it is not necessary to preserve the lien granted by the Colorado inheritance tax law against the hereinafter described rca estate, in which the above named decedent had an interest, by virtue of the authority vested in me under the provisions of Section 66, Chapter 85,.1935 Colorado Statutes Annotated, as amended, I do hereby forever release and discharge the inheritance tax lien against the following described real estate, to -wit: THE N2 OF NEi" SEC 7 TP 1N RANGE 62 WEST OF THE 6tH P M., WELD COUNTY,COI.CRADO, TITLE IN PJ/O MIKE C KLAUSNER AND TILLIE KLAUSNER. AS 'f EP!ANTS IN COM10N THE Sk OF SEC 32 TP 1N RANGE 62 WEST OF THE 9TH P M.,59ELD COUNTY,COLORADO, RECORD OWNERS -M C KLAUSNER < TI LLIE KLAUS NEP, AS JOINT TENANTS THE NE+ OF SEC 24 TWP 1N RANGE 63 WEST OF THE 6TH P M.,WELi COUNTY;COLORADO, TITLE IN MIKE C KLAUSNER AND TILLIE KLAUS NESAS JOINT TENANTS WITH RIGHT OF SURVIVOR Dated at Denver, Colorado, DUKE W. DHABI% Attorney General of Colorado. JUNE 4 , 195.:_._. /,'") NEm TASrtEn, Assistant Attorney General. NOTE —This release must he recorded in the office of the clerk and recorder of the county in which the property is situate. SKID, Inc. LG SAL11751 WE 1170880-1953.001 t4N'•199F,f� 'a AAA • bhp . 32768 1 • re F,t Pi 4 :0Lid.a ., MAR 6 1974 tr A e s,a Ha —1.631= s w sb,nm, 6—f LAST WILL AND TESTAIZNT OP TILLIE KLAUSNER eivm.3 an m m1916 vw385 I, TILLIE KLWSNER of 111 South 6th Avenue, Brighton, Adams I County, Colorado, being of sound and disposing mind and memory, do hereby Teske, publish end declrre this he be MY UST WILL MD TEST/VENT, hereby revoking any and oil testamentary dispositions of any kind and cr. nature heretofore made. o. . FIRST: I direct that all my just debts be paid, ti • SECOND: I give, devise and bequeath to by all, mprveT J. KLAUSNER r; ▪ the following described property together with all improvements: in I 3§ of ill 6 NE3 of N13 of Section 2 Tp2 S. Range 61 W. of 6th F. M., Adams County, Colorado, and N} of E% SE4 Section.32 Tp 1 M. Range 62 N. of 6th P. M., Weld County, Colorado. THIRD: I give, devise and bequeath to my daughter, !1, MAGDALENE IF KLAUSNER SIIDEHEHAN, the following described property together with T n11 improvements: SWk of Section 32 Tp 1 N. Range 62 W. of 6th P. M. Weld County, Colorado, and W§ of SE.. of Section 32, Tp 1 N. Range 62 N. of 6th F. M., Weld County, Colorado. FOURTH: I give, devise and bequeath to my daughter, AUGUSTA M. -KLAUSNER ERH.ER, the house, lots and improvements described as Lots 18 and 19, Block 16, Aurora Heights, Arapahoe County, Colorado, and; 311 of E1jSE4 of Section 32, Tp 1 N. Range 62, W. of 6th P. M., Weld County, Colorado. FIFTH: I give, devise and bequeath co my daughter, CCPZAIi:E C. KLAUSNER =TALE, the following described property together with all improvements: NEk of Section 24 Tp 1 N. Range 63 N. of the 6th P. M. Weld County, Colorado, and S} of :M7 Section R Tp2 S. Range 58 W. P. :1., Adams County, Colorado. SIXTH: I give, devise and bequeath to the St. Augustine Parish of Brighton, Colorado, en undivided One fourth interest in and to the property legally described as lots 37 and 30, Block 27, Walnut GT pt's 2nd Addition co Brighton, Maas County, Colorado, also known as 111 South 6th Avenue,. Brighton, Colorado. end the other undivided three fourths thereof, I hereby place in the residuary estate to be distributed as therein contained. SEVENTH: It is my wish, desire, request and will, that any debt or indebtedness that may be outstanding and due and owing to me by my. grandson, Richard 0etrale, and Mr. e. Airs. Charles Esker, be and the same is hereby 'forgiven, and cancelled. EIGHTH: I hereby request and will that the $2,000.00 that is due and owing to me by my daughter, M. MAGDALEN/ KLAUSNER SHC3:Eilla, be obtained and collected by the estate, and chat said $2,000.00 I give and bequeath to the SACRED HEART �� PARISH. H. OF R0GGEN, C0L0R'00. • £pe cf '! 'nmoe.t.• 0 LP 0 ' •I: , SKID, Inc. LG Sia.11751 WE 1631629-1974.001 y° .710 1,631.? • s rum1916 Hu986I NINTH: I hereby request and will that $200.00 be given to ST. AUGUST= S PARISH of Dxighton. Colorado for 60 High Masses, and $300.00 be given to SACRED HEART PARISH of Roggen, Colorado, for 60 High Masses. • TENTH: All of the rest, residue and remainder of my settee, of every kind and nature, wherever situate, I give, devise and bequeath to be divided equally between my children, Anthony J. Klausner, H. Magdalene Klausner Shoeneman, Auguste H. Klausner Met and Germaine C. Klausner Bettile, share and share alike. ELEVENTH: I hereby name, nominate, appoint and request that my daughter, M. Magdalene Klausner Shoeneman and Charles Stork of Roggen, Colorado, be co -executors of my estate and carry out the terms of my will, and probate thereof, and they be permitted coy serve without posting bond of any kind. �foIn Witness whereof, I have hereunto fixed my name this day of % h T , A. D. 1966. Weir' er-r, TILLIE EIAUSNER The foregoing document was on this ',)A day of .S:.+• -r - A. D. 1966, by the sold Tillie Klausner declared to be, and we hereunto set our nares an witnesses et her request and in her presence end in the presence of each other; and we declare that et the time of the execution of this instrument said testatrix. according CO our best knowledge and belief, was of sound mind and memory and under no constraint. The foregoing instrument, consisting of 2 pages, typewritten, including this one. 'cited at Brighton, Colorado the day and year above written. 1v. NAME f ADDRESS j4 ADDRESS NAM�r: ADDRESS" NAtff] SKID, Inc. LG SKL11751 WE 1631629-1974.002 IN THE MATTER OF Mit rtoiUT• OF nit LAST WILL AND T65TMEANT Or Bider Admitting YJBI to Prahate TILLIE KLAUSiEE. aka __CECF.LIA_ ELIZAWIIII 6lAUSNEN_,_.___ DeCEASED Now on Ws doy. outworn to order heretofore nude la tbla matter, coma en forbearing at probate of no latmment In writing, heretofore M ed in this Court, purporting to be the Lott Will and Tatanmt .onl ao6y c__.thenw of ield decand. AND IT APPEAUINO TO THE COURT tenon the accords end Nn Fordo Nat elution hoe been duly word on. of .mire I..e been valved by. all mastery frank, no provided by law nod order of this Court: that lawfully tnpmfent tre downy. proof. and evidence hove been pruentd: and It .ntbfotwnly appearing thetefmm that the told ImDumtnt In willing •cod c dlW--tbento wen bat eeauted. declared. and ntnnnl m provided by no In sold decedent's Lot Will end Tat ment and tbet and dtteMnt wan delann 'ran of oat or alder and of .pond n!nd cod memory at the time the tome to would. deelanl and coated; end no Road. compulelon of other improper conduct bolos aohlblied. and the Court helot now nulbdently dv+d In the pemliew IT IS THEREFORE ORDERED. ADJUDGED AND DECREED. That the said will Madam*: Yt1_thenw be and the acme I. !Vnybereby ndmdttd to probate and record. IT IS IURTHER ORDERED. that open Wing and filing the statutory oath of eaecot.cla (and upon catering Into bond In the penal sum o[..Ten_t6Desend.an Lnolli11...._...Po:ban, condldaned a required by lac) that been tetaneentety three Ial1.NArl)Al.E6H..E.I Al!°N EP, Elf., ... the a<merL<. named in told till: end now having on taken and filed the said oath (oni hooker; ea tared Into said bad. vehicle it epprovcd by the ) it la therefore ordered to aidd.nea., [ ' . nod that the tune be old andenteredof rtmrd. that the add letters Iron IT IS FURTHER ORDERED. That WL.1•Y_MAG11Al F11E KI a ISiiE _$Ii021VCli4ii..._.. publish a Nona to Creditor. a melded by In. laid nodes to he mtbl'ubed at hat .net a week during ask of fourmlm.d.e almdat iamb m—.9dghton—faedit_ a nanpaper piloted awl published In odd. .-..Ara.es ..• r . SKLD, Inc. LG SKL11751 WE 1631629-1974.003 -01710 a IN THE DISTRICT COURT IN AND FOR THE Cr:Yri C:' .,145 d' • STATE OF COLORALO Civil Action No. P-5BS] 1631620 L -K m131916 aH1388 IN THE MATTER OF THE ESTATE OF )) TILLIE KLAUSNER, aka ) 2A-12.0.2 ,i!i/ tilt*. nh'LC CECELIA ELIZABETH KLAUSNER, 3) Deceased THIS MATTER towage on to be heard this 25th day of February A.D. 1974, upon the verified Petition of M. Magdalene Klausner Shoeneman, Executrix of said estate, to construe the Last Will and Testament of Tillie Klausner, deceased, concerning an error in the description of a parcel of property in Paragraph Second of said Will, and the court having read the Petition, heard the testimony, read the acceptance of Service and Consent of the heirs to the relief sought, the COVET FINDS: That the allegations contained in said Petition are true and correct and that there appears a patent and obvious error in the description of the parcel of reel estate willed to ANTHONY J. KIAUSNER in Paragraph Second of said Will. That the true and correct description for said parcel willed to ANTHONY J. KLAUSNER is as follows: 661 1 M. of}. of 6thNP.M.f dams County,Section ColT�s and N4 of E} SE} Section 32 Tp 1 N. Range 62 W. of 6th P.M., Weld County, Colorado. IT IS THEREFORE ORDERED, ADJUDGED AND DECREED that the Court herein construes said Last Will and Testament of Tillie Klausner heretofore admitted to probate to include the above description recited heroin to be the correct and accurate description of the devised to ANTHONY J. KLAUSNER instead of the inaccurate description in Paragraph Second of the original will on file herein. IT IS FURTHER ORDERED that the Inventory, application for Inheritance description described above. IT IS FURTHER ORDERED that the. Order Admitting Will to Probate hereto fore entered shall be construed to contain the corrected description described above to ANTHONY J. KLAUSNER with the same force end effect as if it bed been correctly described in, the origina*w COURT • p F ui SKLD, Inc. LG SKL11751 WE 1631629-1974.004 Now on thin dry the Coat finds that all ragairmnenln of law and erdern of lain Court incident to the administration and closing of maid estate huvo been complied with; %la%hw%xarvllotnaauanpnr aMmtymslMm 4;uRmrom;l%;caperMburmlggrlotTrnMan;hhrm;IIW1%wftlkx "that final Ciotti begun of the fmmonolry in said estate hen hues made us follows;• Eseeulor%KRRZIROLROfOt1ARa of said OnMee be, and On some is hereby approved. Vinci rsoeiplsl of No pen..ons) lo atom dinldhutlos ham lu.w made lining been Med I.,1 rd"Iisry. IT 15 ORDERED that fiduciary maid fiduciahe and is hone dr.hmq.l from jEtiie„ .nn Vurlpg real i.ty of Bald nxmlc, and mm OtwxmxmawpvIX _ _ het. Inmal .r .uou Ockwinryllo and YMy GERhorelw Maimed and dieehargal front all fruitier Ii.hihly ihereunder. SKLD, Inc. LG SKL11751 ME 1631629-1974.005 . -no CLERK'S CERTIFICATE STAYS OF rolMADO m COMM OF ADAMS 1631629 6- 6 BJb11916 PAa390 1, DOROTHY SILVERNA[l, Clerk of the Dbtikl Court of dm County of Memo, do busby certify the fomsoms to be m ne end complete copy of Last Will and Testament Order Admitting Will Order to Construe last Will end Testament Decree of Final Settlement and Discharge me the seam remain of record a my office loslWYmcooefl the matter of the Estate of Tillie Elausner a/k/a Cecelia Elizabeth Klauenar, Deceased. No. P-3883 my Sputum and the Sal of mid Court Any at ...401:01. SKID, Inc. LG 5EL11751 WE 1631629-1974.006 04 L lead aid*het4'r�MAR 8 1974 err. w ISMaIC a anther, a. nseree g .0710 RIB-6?4 o0019 ?11631630 9 -- STATE OF COLORADO DEPARTMENT Of REVENUE . INHERITANCE TAX DIWLTION RELEASE OF INHERITANCE TAX LIEN Ee�d— Tillie Kleuener eke Cecelia Elizabeth Klausner Dana Dab__ May 8, 1.973 Gres Estate 85,850.91 It sneering to the itilintive Director. CefczS,,t of Reims, tall It le not maeee4 to pressrle the lies Ranted by the Colored° inheritance tax lax against the hereinafter deeeribd real estate. is which the above red dKedat had a interest. by virtue of the authority eeetd in a vender the preritlae of See. !3R -}6l. ad. 1963. I do Mete tone it*. aid discharge t e inheritance tax lien against the felloWq described reel estate, that, NE3 Sec.24 T1 N R63V 6th T.R., Weld Cmmty,Colo. Sid Sec.32 TIN R62W 6th f.tl., Weld Coonty,Colo. DNS at Dnrer. C lando. Oct. 9 SON E. =CUPS Yawties Director l9 73 Er Its -115 Wass r be -YY, Y Seder a. ESA rails a As s,esv r Math lY rnwr *Weser SRLD, Inc. LG SRL11751 WE 1631630-1974.001 N. AR2007372 B 1066 REC 02007372 04/26/05 12:21 $6.00 1/002 F 2153 MARY ANN FEUERSTEIN CLERK S RECORDER. WELD CO, CO WARRANTY DEED FILING STAMP TNIS DEED, made this 15tdpvof April •I9 85 between GERMAINE C. KLAUSNER BETTALE of the County or LaT�im r and State of Colorado, of the first part, and i JOEL SHOENEMAN an _ ? LINDA SHOENEMAN whosekgaladdreanie Roggen, Colorado arthe Cosntyof Weld Colarada,ofthe second porn and State of 5iote Documentary Fee Data JRL21z1985... WITNESSETH, that the said party of the first part for and in consideration tithe sum of **Ten Dollars and other valuable considerations —DOLLARS and other good and valuable considerations to the said party of the first part in hand paid by the said parties of the secand part, the receipt whereof is hereby confessed and acknowledged, has granted, bargained, sold and conveyed, and by these presents does grant, bargain, sell. convey and confirm unto the said parties of second part, their heirs and assigns forever, not in tenancy in common but injoint tenancy, all the following described lot or parcel of land. situate, lying and being in the -County of Weld and StateofColorada,towin The Northeast Quarter of Section 24, Township 1 North, Range 63 West of the 6th P.M., Weld County, Colorado also known as street and number TOGETRER with all and singular the hereditaments and appurtenances thereunto belonging, or in anywise apper- taining and the reversion end reversions, inder and remainders. rents. is.sues and profits thereof; and alt the estate, right, title. interest. claim and demand whatsoever of the said party of the first part, either in law or equity, of. in and to the above bargained premises, with the heredltanients and appurtenances. TO HAVE AND TO HOLD the said premises abuse bargained and described, with the appurtenances, unto the said parties of the second part. their heirs and assigns forever. And elm said party or the first purl, for himself. his heirs, executors, and administrators, does covenant grant. bargain and agree to and with the sold parties of the second part, their heirs and assigns, that at the time of the ensealing and delivery of throe presents. he is well seised of the premises above conveyed, as of good. sure. perfect, absolute and indefeasible estate of Inheritance, in law, In fee si wide, and Las good right full power and lawful authority to grantbargain, sell and convey the same in manner and form aforesaid, and that the same are free and clear from all former and other grants, bargains, sales. Hans. tree. assessments and encumbrances of whatever kind or nature aoever, as more particularly set forth on Appendix "A" attached hereto and incorporated herein by reference, and the above bargained premises in the quiet and peaceable possession of the said parties of the second part, the survivor of them, their assigns and the heirs and assigns of such orrr.iver, against all and every person or Persona lawfully claimingor to claim the whole or any part thereof, the said party of the first partshall end will WARRANT AND FOREVER DEFEND. The singular number shall include the plural, the plural the Miamianand the use of any gender shall be applicable to all genders. IN WITNESS WHEREOF thesaid party of the first part h • hacunio set his hand and seal the day andyearring Signed, Sealed and Delivered in the Fresenceof l vll,((�� 'N /�1,.1/L•N�gK/ l/ i' )ALI Germaine C. Klausner Bettale 1SEALI above written. sue . II ,,. n,ETOF COLORADO 1 ..., 'tinny or Larimer lit g;, aVaiirar,sr;*L wasacknowiedgellhefre me this 15th abya, - r{naimle C. Klausner Bettale \e"O.ommiss,o,,6 / J - JS .15 �% . Or c0,0 �!! Witness my Fund and official seal. day of April �/� - a3 F3.,4/1"15 n.A f3„4Lf_., Of. dot,' I SEA LI s 85 Na. 911A. xAMPS'TS Iq:tle— x, tom rrrum. —voids,. • 1.1P W.ee•.I IbFli.l.mp a.. a. nth A'ir..I.+t....W. rums—rbn!h.nwn SKLD, Inc. LG SKL11751 WE 2007372-1985.001 B 1066 REC 02007372 04/26/85 12:21 $6.00 2/002 F 2154 MARY ANN FEUERSTEIN CLERK s RECORDER WELD CO, CO APPENDIX "A" TO WARRANTY DEED FROM GERMAINE C. KLAUSNER BETTALE TO JOEL SHOENEMAN AND LINDA SHOENEMAN EXCEPT SUBJECT TO: taxes, agreements, reservations, restric- tions, covenants and rights of way of record, an existing ease- ments and rights of way of record, if any; and subject to that certain existing oil and gas lease between party of the first part and Energy Minerals Corporation dated August 29, 1979 and recorded September 10, 1979 in Book 881 at Reception No. 180264; AND EXCEPTING THEREFOR AND SPECIFICALLY RESERVING unto party of the first part, her personal representatives, heirs, successors and assigns, an undivided one-half right, title, ownership and' interest in and to all oil, gas and other mineral interests rele- vant thereto of whatever nature or description, including interests in and to existing oil and.gas leases with regard thereto, all in or under the hereinabove described parcel of real property, and including said undivided interest in and to the royalties, rents, issues and profits in and to said minerals and leasehold interests. Said reserved oil and gas interests shall terminate and the absolute title to said undivided interests shall be vested in parties of the second part as joint tenants with right of survivorship or in second parties' personal repro- oentatives, heirs, successors and assigns, upon the happening of the following: (1) January 1, 2000, unless there is then production of oil or gas well or wells, or well or wells capable of producing oil, gas or gas condensate in paying quantities located on said land or acreage pooled or unitized therewith, even though such well or wells may be shut-in as of January 1, 2000, in which event said undivided interests shall continue to be held and owned by the party of the first part to the full extent hereinabove specified until such time as there shall be no further production nor said capacity of production in paying quantities for a period of twelve (12) consecutive months, or the death of the party of the first part after January 1, 2000, whichever event shall first occur. To clarify the above statement and having priority if conflict- ing statements are found, Joel and Linda Shoeneman shall receive 1/2 interest in all oil and gas minerals effective this 19th day of April, 1985. 4.1ACe SKLD, Inc. LG SKL11751 WE 2007372-1905.002 °13 2530913 B-1589 P-197 01/28/1997 12:43P PG 1 OF 1 REC DOC Weld County CO JA Saki Tsukauoto Clerk & Recorder 6.00 4290-10 R298-04 QUITCLAIM DEED THIS QUITCLAIM DEED. Scowled this 9TH (lay or November . I" 9 6 by first party. Germaine C. Klausner Bet tale whose postofTicc address is 4158 Whistler Ave. Santa Rosa, CA 95407 to second party, Joel Shoeneman and Linda Shoeneman whosc nom olfice address is 8672 WCR #73 Roggen, CO 80652 WI1'N F:SSRTI I.' I hat Hie said firs) parry. for good consideration awl for the sum of TEN Dollars ($ 1 0. 00+ ) paid by the said scanld patty, the receipt whetcol is Iwuhy ticknowledgcA, tunes Iictcby renrisq release and quitclaim anon the said second patty liuram, all tllr tight, tide, inter - cal mid claim which Ile said first party has in anti to the fnllnwing described pawl of IaoA, mad iminnvrnrenls h u h appurtenances thereto in the County of WELD , Sole of COLORADO to wit: TOWNSHIP I NORTH, RANGE 63 WEST OF THE 6TH P.M. Section 24: NE1/4 IN WITNESS WHEREOF lire said first p; Fly lux signed :old scaled I hose pit -needs the Ins nod year first above written Sigrp4, sailed no A. aid i (y �yc of: Si art of nos Signature of flint Part Germaine rC. )i(lau soar Bette le Print name of Witness Signrtnre of Witacsa Print 'ionic of Witness Print Tira of Plrnl Party- Signature of Pircl Patty Print name of Past Party Slate of Caf ibonnca County of Sonoma On 12/21/96 before me, Mang E. Eete.a, No#arty ➢ib-Ut appeafe Gevumu.ne C. Klau8neJt. BeLt�Ce per,seiml ly known to me (or proved to ntc tat t se asis of .satisfactory evidence) to lie the petsotuN wheat tai m(S) is/ete subscri lied ill the within instrument and acknowledged In Inc thallr/s hr/they execntal the satire in his/Insllhrir authorized cs1tot ty(ied, and dint by Jsis/IterAlu.:irsignaturc(errim the ntsutvnun the pc snrfsh-or Ihr entity main behalf of which the personled select, executed the instrument. WITNESS my hand and official seal. Signature Notary A Ilion( Rnmvn_gx, Produced II) Tyre of ID—frevaa Uc, (Seal) _.rA MI1 07694 COMM. . 0o`FOmaa NOTARY PUBLIC �cd'4�I SCOW atill tsr conmt.uvnn Oct 26. RN? OR z IFAR R.I.. Perm. you w. iN. ta,n. vex, H.fill n.e Alma,. End 7antra. atnnta.n sm.ny u, yam meat,, ean.m,in, Gown t Myn It TU druid the cone Mon. let Your pildwrie mid ow n 7.Iranl Mama ndibe Flail,. untt a+tnn,r. trrrta. n Irrta-,l. col nq'n to the nettnnnoMMy of hlr;a ram IN M Inttni YJ mat n rummy Alan SKID, Inc. LG SKL11751 WE 2530913-1997.001 1111(111111111111111111111111 1 1 11111111 I I 111111 I I I I I I I I 6/ 1 of 1 R 6.® 0 0.00 T Sieve MorenoClerrk & Recorder Quit Claim Deed THIS DEED la a conveyance from the Indtvldual(e), corporallon(s) or other enllty(lea) named below e as GRANTOR Tlathe Ildwldual(s) 0l entny(les) named below as GRANTEE of whatevs - Interest the GRANTOR may p deserted below. The GRANTOR hereby soils end qua dal= lGthe GRANTEE the reel properly described below with all Its appurtenances. The specific terms of this deed are: Grantor: (Gets num(e) and place(*) of realdena: lithe apouseorthe owner.grenlorla)oinlrlg In lhlsOeed to releaw homestead rluht, Ideally grantors as husband endv. a.) JOEL SHOENENAN AND LINDA SHOENEMAN WELD COUNTY ROGGEN, COLORADO Grantee: (ON. name(*) and addNw(ee): etalemenl of addross, Inoludlno available road or street number, I. requlrsd.) JOEL SNOENEMAN AND LINDA SNOENEMAN WELD COUNTY 5.(0 %� Luc: if \ / n 3 ROGU EN. COLORADO�Cp CO b-o6,5d Form of Co-Own.nhlpl the ward. ' two or mere 'In Joint tenant or words al same they nb.nngconsidered aro added In the .pace below.)common dolma• Property Description (Include ye opeep�nly and Mete) Aicntni THE W'Ht1T ONE: HALF OF THE NORTHEAST QUARTER OF SECTION 24, TOWNSHIP 1 NORTH, RANGE 63 vest OF THE 6TH P.M., WELD COUNTY. COLORADO property address: Reservellone-Aeatrldlona: WELD COUNTY (lithe GRANTOR Intends to reserve any interest In the property or to convey less than ha owns, or lithe GRANTOR is restricting the GRANTEES rights In the peccary, mete appropriale Indication.) Exeoutod by the arentor on 19. Signature Gone for Corpo..don, Partnership or Association: Nuns of Grantor, CorporeLlon! PaM.nhlp or Association ay By AMA • (•.SLY STATE OF COLORADO es ` CJ ` COUNTY OF Wc)d ) The Mowing In.oument wee eolnawledged Wore ma thisBr SGe c\RDehe nein Myoommi.elon apes matat nal t I2 -4/o6 STATE OF(OcOY COUNIYOF Wei The laugdng Instrument wee .olnorvledoed betere rnttl. • ^\• CN.�rJ.•C r •� tleY °I J,µ (.1tio-A 5tDG(n4" 1 (*mime IndMduelaranta(eaifGrantor le Corporation, Matipiypqo.�(tpw*don(*mime then Identify signers es president or Moe prwaentend secreWy ordel.tant mastery of capersUon: of eepefwy(e1ia heNreetp.orn mahorisednember(%) ohssssociation.) WITNESSmy hard andpalddd��AIlIssai • :F'••• MyoomiNadon **ekes: 4/0 (o h^O... GJ r 5)Breduce Clause for IndNdud I(a): Ad) ‘01191-e-97"1"..----- Granter 9 �/...d,4___ Grantor Granter F-.."" C Nobry u6ila If- WCTC No. tea 01061 UPDATE LEGAL FORM SKLD, Inc. LG SKL11751 WE 3060607-2003.001 1IIIIU1111111111111111111111!IIIIIII11III11111!III!III 3261096 01/102006 10:610 Wore County CO 0� 1 0l 1 R 6,00 0 9Z0 Steve Morons Clerk & Recorder tow filed for record the day of Reception No. 9L- WARRANTY DEED afx nit J TI I 5 DEED, Made on this day of December 29, 2004 JOEL SHOE2NENAN AND LINDA SHOENENAN at o'clock X. RECORDER By DEeutt of the County of WELD GERARDO CERVANTES AND NANCY GARCIA between State Documentary Fee Date 1-17-115- $ 9,5 o and State of COLORADO of the Grantor(s). and whose legal address is : 3457 GILPIN STREET DENVER, CO 80205 of the County et DENVER and state of COL'O'kJ D , of the Grantee(q: WITNESS, That the Grantor(s), for and in consideration of the sun of ( $95,000.00 / *** Ninety Five Thousand and 00/100 tea DOLLARS the r ceipt and sufficiency of which is hereby acknowledged, has granted, bargained, sold end conveyed, and by these presents does grant, bargain, sell, convey and confirm Into the Grantee(s), their heirs and assigns forever, not in tenancy i common but In joint tenancy, all the reel property, together with improvements, if any, situate, tying and being i n the County of WELD and State of Colorado, described as follows: LOT A RECORDED EXEMPTION NO. 1477-24-1 RE -3528, AS PER THE NAP RECORDED OCTOBER 31. 200 AT RECEPTION NO. 3122407, BEING A PART OF THE NORTH 1/2 OP TEE NORTHEAST 1/4 OF SECTION 24, TOWNSHIP 1 NORTH, RANGE 63 WEST OF THE SIXTH PRINCIPAL MERIDIAN, COUNTY OF WELD, STATE OF COLORADO. also known as street number VACANT LAND ROGGEN CO 80652 TOGETHER with all and singular end heredi taments and appurtenances thereto belonging. or in anywise appertaining and the reversion end reversions, remainder and remainders, rents, issues and profits thereof; and all the estate, right title interest, claim and demand whatsoever of the Grantor(s), either in law or equity, of, in and to the above bargained premises, with the heredi teaeltz and appurtenances; TO HAVE ANDTO HOLD the said premises above bargained and described with appurtenances, tits the Grantee(s), their heirs and assigns forever. The Grantor(s), for himself, his heirs and personal representatives, don covenant, grant bargain, end agree to and with the Grantee(s), their heirs end assigns, that at the time of the ensealing and delivery of these presents, he is well seized of the premises above conveyed, has good, sure, perfect, absolute and indefeasible estate of inheritance, in law, in fee simple, and has good right, full power and Lawful authority to grant, bargain, sell end convey the same in reamer and form as aforesaid, and that the same are free and clear from all forrer and other grants, bargains, sales, liens, taxes, assessments, encuabrances and restrictions of whatever kind or nature soever, Subject to general tax¢. for the year 2004 and these epeeffla pmeptlmr damribed by raM1rerea to racordnd dm®eats .. refleot.d In the Title Documents accepted by arµo .a(.) in aaaetieeee win S.etlon R. (Title Peelee) at . C to hey and Sell veal estate relation to µ. abet.dewodproperty/ bed pro diatrthueroo utility eerouronfw (loaludley oebieTV): Chore wp•alfioally described rights of third partparties nor ah enbyµe public reword, of ehioh a el.) had cereal knowledge and which worm accepted by a ela) la a ardan m with S otfebt (Ma not shown by the Yublle Records) as otim en (Survey Review) of the Contract to Buy and Sell Real Peseta relating to Nor above d..arib•d real properly/ ieeluaim of the vx.pwrcy within ..ay .p.alal taw de.trlot; and. the benefit and burdens of any declaration and party wall if any and other None The Grantor(s) shall and will WARRANT AND FOREVER et thee the above bargained premises in the quiet and peaceable possession of the Grantee(sl, his heirs and assigns, against all and every person or persons lawfully claiming the Mole or any part thereof. The singular inner shall include the plural, and the plural the singular, and the use of any gender shall be applicable to all genders. IN WITNESS WHEREOF the Grantor(s) has executed this deed on the date set ,(arch shove. TATE OF cotosano County of can )ss. The foregoing instrument was acknowledged before net on this day of by dams awoseouw Ann break pxovaeax My ecewiasian expires 1O'l.) CWO Witness my hard and official seek. nd Address of Escrow,/ ER25040335 Title/ Fe25048335 "-A?.10 1 . Notary Public rig Newly Created Legal Descri pt ten ( 35-35'106.5, C.R.S.) rm,enn Recorded Return to: GERARDO CERVANTES AND NANCY GARCIA Porn 96 00/29/04 WJTI WARRANTY DEED (Joint lemnt5) 3457 GILPIN STREET DENVER, CO 80205 Printed: December 23. A'^s... (868868) MEUNDA GUALANORI ft E OF'CO��Q• SKID, Inc. SKL11751 WE 3254066-2005.001 dotloop signature verification: 2 3 4 5 6 7 8 9 10 11 12 13 14 The printed portions of this form, except differentiated additions, have been approved by the Colorado Real Estate Commission. (CBS4-8-13) (Mandatory 1-14) 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) (el Property with No Residences) (❑ Property with Residences -Residential Addendum Attached) AGREEMENT Date: 07/21/2015 15 1. AGREEMENT. Buyer, identified in § 2.1, agrees to buy, and Seller, identified in § 2.3, agrees to sell, the Property 16 described below on the terms and conditions set forth in this contract (Contract). 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 43 44 45 46 47 48 49 50 51 52 53 2. PARTIES AND PROPERTY. 2.1. Buyer. Buyer, Leonel Ornelas described below as O Joint Tenants In Tenants In Common Other 2.2. Assignability and Inurement. This Contract ❑ Is Is Not assignable by Buyer without Seller's prior written consent. Except as so restricted, this Contract inures to the benefit of and is binding upon the heirs, personal representatives, successors and assigns of the parties. 2.3. Seller. Seller, Property described below. 2.4. Property. The Property is the tollowing legally described real estate in the County of will take title to the Property is the current owner of the Colorado: PT NE1 24163 LOT A REC EXEMPT RL3388 (1.668) known as No. Keeneshurs, Colorado 80643 Street Address City State Zip together with the interests, easements, rights, benefits, improvements and attached fixtures appurtenant thereto, and all interest of Seller in vacated streets and alleys adjacent thereto, except as herein excluded (Property). 2.5. Inclusions. The Purchase Price includes the following items (Inclusions): 2.5.1. Fixtures. All fixtures attached to the Property on the date of this Contract. Other Fixtures: Tf any fixtures are attached to the Property after the date of this Contract, such additional fixtures are also included in the Purchase Price. 2.5.2. Personal Property. If on the Property, whether attached or not, on the date of this Contract, the following items are included: Other Personal Property: N/A CBS4-8-13. CONTRACT TO BUY AND SELL REAL ESTATE (LAND) Page 1 of 17 dotloop signature verification: 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 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108 109 110 111 The Personal Property to be conveyed at Closing must be conveyed by Seller free and clear of all taxes (except personal property taxes for the year of Closing), liens and encumbrances, except Conveyance will be by bill of sale or other applicable legal instrument. 2.5.3. Trade Fixtures. With respect to trade fixtures, Seller and Buyer agree as follows: The Trade Fixtures to be conveyed at Closing will be conveyed by Seller free and clear of all taxes (except personal property taxes for the year of Closing), liens and encumbrances, except . Conveyance will be by bill of sale or other applicable legal instrument. 2.6. Exclusions. The following items are excluded (Exclusions): 2.7. Water Rights, Well Rights, Water and Sewer Taps. ❑ 2.7.1. Deeded Water Rights. The following legally described water rights: Any deeded water rights will be conveyed by a good and sufficient 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: O 2.7.3. 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 atter Closing. The Well Permit # is 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. Note: 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), or § 2.7.4 (Water Stock Certificates), 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: CBS4-8-13. CONTRACT TO BUY AND SELL REAL ESTATE (LAND) Page 2 or 17 dotloop signature verification: 112 3. DATES AND DEADLINES. Item No. Reference Event Date or Deadline 1 § 4.3 Alternative Earnest Money Deadline Title 2 § 8.1 Record Title Deadline 3 § 8.2 Record Title Objection Deadline 4 § 8.3 Off -Record Title Deadline 5 § 8.3 Off -Record Title Objection Deadline 6 § 8.4 Title Resolution Deadline 7 § 8.6 Right of First Refusal Deadline Owners' Association 8 § 7.3 Association Documents Deadline 9 § 7.4 Association Documents Objection Deadline Seller's Property Disclosure 10 § 10.1 Seller's Property Disclosure Deadline Loan and Credit 11 § 5.1 Loan Application Deadline 12 § 5.2 Loan Objection Deadline 13 § 5.3 Buyer's Credit Information Deadline 14 § 5.3 Disapproval of Buyer's Credit Information Deadline 15 § 5.4 Existing Loan Documents Deadline 16 § 5.4 Existing Loan Documents Objection Deadline 17 § 5.4 Loan Transfer Approval Deadline 18 § 4.7 Seller or Private Financing Deadline Appraisal 19 § 6.2 Appraisal Deadline i 20 § 6.2 Appraisal Objection Deadline i Survey 21 § 9.1 Current Survey Deadline 22 § 9.2 Current Survey Objection Deadline 23 § 9.2 Current Survey Resolution Deadline Inspection and Due Diligence 24 § 10.2 Inspection Objection Deadline 25 § 10.3 Inspection Resolution Deadline 26 § 10.5 Property insurance Objection Deadline 27 § 10.6 Due Diligence Documents Delivery Deadline 28 § 10.6 Due Diligence Documents Objection Deadline 29 § 10.6 Due Diligence Documents Resolution Deadline 30 § 10.6 Environmental Inspection Objection Deadline 31 § 10.6 ADA Evaluation Objection Deadline 32 § 10.7 Conditional Sale Deadline 33 § 11.1 Tenant Estoppel Statements Deadline 34 § 11.2 Tenant Estoppel Statements Objection Deadline Closing and Possession 35 5 12.3 Closing Date 36 § 17 Possession Date 37 § 17 Possession Time 38 § 28 Acceptance Deadline Date 39 § 28 Acceptance Deadline Time 113 3.1. Applicability of Terms. Any box checked in this Contract means the corresponding provision applies. Any box, 114 blank or line in this Contract left blank or completed with the abbreviation "N/A", or the word "Deleted" means such provision, 115 including any deadline, is not applicable and the corresponding provision of this Contract to which reference is made is deleted. 116 The abbreviation "MEC" (mutual execution of this Contract) means the date upon which both parties have signed this Contract. CBS4-8-13. CONTRACT TO BUY AND SELL REAL ESTATE (LAND) Page 3 of 17 dotloop signature verification: 117 4. PURCHASE PRICE AND TERMS. 118 4.1. Price and Terms. The Purchase Price set forth below is payable in U.S. Dollars by Buyer as follows: Item No. Reference Item Amount Amount 1 § 4.1 Purchase Price $ 2 § 4.3 Earnest Money $ 3 § 4.5 New Loan $ 4 § 4.6 Assumption Balance $ NiA 5 § 4.7 Private Financing $ NM 6 § 4.7 Seller Financing $ .N/A 7 8 9 § 4.4 Cash at Closing $ 10 TOTAL $ $ 119 4.2. Seller Concession. Seller, at Closing, will credit, as directed by Buyer, an amount of $ to assist 120 with any and all of the following: Buyer's closing costs, (Seller Concession). Seller Concession is in addition to any sum Seller has 121 agreed to pay or credit Buyer elsewhere in this Contract. Seller Concession will be reduced to the extent it exceeds the aggregate 122 of what is allowed by Buyer's lender as set forth in the Closing Statement, Closing Disclosure or HUD -1, at Closing. 123 4.3. Earnest Money. The Earnest Money set forth in this section, in the form of Personal Check , will be 124 payable to and held by Land Title Guarantee Company (Earnest Money Holder), in its trust account, on behalf of 125 both Seller and Buyer. The Earnest Money deposit must be tendered, by Buyer, with this Contract unless the parties mutually 126 agree to an Alternative Earnest Money Deadline (§ 3) for its payment. The parties authorize delivery of the Earnest Money 127 deposit to the company conducting the Closing (Closing Company), if any, at or before Closing. In the event Earnest Money 128 Holder has agreed to have interest on Earnest Money deposits transferred to a fund established for the purpose of providing 129 affordable housing to Colorado residents, Seller and Buyer acknowledge and agree that any interest accruing on the Earnest 130 Money deposited with the Earnest Money Holder in this transaction will be transferred to such fund. 131 4.3.1. Alternative Earnest Money Deadline. The deadline for delivering the Earnest Money, if other than at the 132 time of tender of this Contract, is as set forth as the Alternative Earnest Money Deadline (§ 3). 133 4.3.2. Return of Earnest Money. If Buyer has a Right to Terminate and timely terminates, Buyer is entitled to 134 the return of Earnest Money as provided in this Contract. If this Contract is terminated as set forth in § 25 and, except as provided 135 in § 24, if the Earnest Money has not already been returned following receipt of a Notice to Terminate, Seller agrees to execute 136 and return to Buyer or Broker working with Buyer, written mutual instructions (e.g., Earnest Money Release form), within three 137 days of Seller's receipt of such form. 138 4.4. Form of Funds; Time of Payment; Available Funds. 139 4.4.1. Good Funds. All amounts payable by the parties at Closing, including any loan proceeds, Cash at Closing 140 and closing costs, must be in funds that comply with all applicable Colorado laws, including electronic transfer funds, certified 141 check, savings and loan teller's check and cashier's check (Good Funds). 142 4.4.2. Time of Payment; Available Funds. All funds, including the Purchase Price to be paid by Buyer, must be 143 paid before or at Closing or as otherwise agreed in writing between the parties to allow disbursement by Closing Company at 144 Closing OR SUCH NONPAYING PARTY WILL BE IN DEFAULT. Buyer represents that Buyer, as of the date of this 145 Contract, Does ❑ Does Not have funds that are immediately verifiable and available in an amount not less than the amount 146 stated as Cash at Closing in § 4.1. 147 4.5. New Loan. 148 4.5.1. Buyer to Pay Loan Costs. Buyer, except as provided in § 4.2, if applicable, must timely pay Buyer's loan 149 costs, loan discount points, prepaid items and loan origination fees, as required by lender. 150 4.5.2. Buyer May Select Financing. Buyer may pay in cash or select financing appropriate and acceptable to 151 Buyer, including a different loan than initially sought, except as restricted in § 4.5.3 or § 30 (Additional Provisions). 152 4.5.3. Loan Limitations. Buyer may purchase the Property using any of the following types of loans: 153 ® Conventional ❑ Other 154 4.6. Assumption. Buyer agrees to assume and pay an existing loan in the approximate amount of the Assumption 155 Balance set forth in § 4.1, presently payable at $ per N/A including principal and interest 156 presently at the rate of '. \ % per annum, and also including escrow for the following as indicated: ❑ Real Estate Taxes 157 ❑ Property Insurance Premium and In `• \ 158 Buyer agrees to pay a loan transfer fee not to exceed $ . At the time of assumption, the new interest rate 159 will not exceed % per annum and the new payment will not exceed $ per N/A 160 principal and interest, plus escrow, if any. If the actual principal balance of the existing loan at Closing is less than the Assumption 161 Balance, which causes the amount of cash required from Buyer at Closing to be increased by more than $ , then CRS4-8-13. CONTRACT TO BUY AND SELL REAL ESTATE (LAND) Page 4 of 17 162 163 164 165 166 167 168 169 170 171 172 173 174 175 176 177 178 179 180 181 182 183 184 185 186 Buyer has the Right to Terminate under § 25.1, on or before Closing Date (§ 3), based on the reduced amount of the actual principal balance. Seller ❑ Will ❑ Will Not be released from liability on said loan. If applicable, compliance with the requirements for release from liability will be evidenced by delivery 8 on or before Loan Transfer Approval Deadline (§ 3) ❑ at Closing of an appropriate letter of commitment from lender. Any cost payable for release of liability will be paid by in an amount not to exceed $ N/A 4.7. Seller or Private Financing. WARNING: Unless the transaction is exempt, federal and state laws impose licensing, other requirements and restrictions on sellers and private financiers. Contract provisions on financing and financing documents, unless exempt, should be prepared by a licensed Colorado attorney or licensed mortgage loan originator. Brokers should not prepare or advise the parties on the specifics of financing, including whether or not a party is exempt from the law. 4.7.1. Seller Financing. If Buyer is to pay all or any portion of the Purchase Price with Seller financing (§ 4.1), ❑ Buyer ® Seller will deliver the proposed Seller financing documents to the other party on or before N/A days before Seller or Private Financing Deadline (§ 3). 4.7.1.1. Seller May Terminate. If Seller is to provide Seller financing (§ 4.1), this Contract is conditional upon Seller determining whether such financing is satisfactory to the Seller, including its payments, interest rate, terms, conditions, cost and compliance with the law. Seller has the Right to Terminate under § 25.1, on or before Seller or Private Financing Deadline (§ 3), if such Seller fmancing is not satisfactory to the Seller, in Seller's sole subjective discretion. 4.7.2. Buyer May Terminate. If Buyer is to pay all or any portion of the Purchase Price with Seller or private financing (§ 4.1), this Contract is conditional upon Buyer determining whether such fmancing is satisfactory to the Buyer, including its availability, payments, interest rate, terms, conditions and cost. Buyer has the Right to Terminate under § 25.1, on or before Seller or Private Financing Deadline (§ 3), if such Seller or private financing is not satisfactory to Buyer, in Buyer's sole subjective discretion. TRANSACTION PROVISIONS 187 5. FINANCING CONDITIONS AND OBLIGATIONS. 188 5.1. Loan Application. If Buyer is to pay all or part of the Purchase Price by obtaining one or more new loans (New 189 Loan), or if an existing loan is not to be released at Closing, Buyer, if required by such lender, must make an application verifiable 190 by such lender, on or before Loan Application Deadline (§ 3) and exercise reasonable efforts to obtain such loan or approval. 191 5.2. Loan Objection. If Buyer is to pay all or part of the Purchase Price with a New Loan, this Contract is conditional 192 upon Buyer determining, in Buyer's sole subjective discretion, whether the New Loan is satisfactory to Buyer, including its 193 availability, payments, interest rate, terms, conditions, and cost of such New Loan. This condition is for the sole benefit of Buyer. 194 Buyer has the Right to Terminate under § 25.1, on or before Loan Objection Deadline (§ 3), if the New Loan is not satisfactory to 195 Buyer, in Buyer's sole subjective discretion. IF SELLER IS NOT IN DEFAULT AND DOES NOT TIMELY RECEIVE 196 BUYER'S WRITTEN NOTICE TO TERMINATE, BUYER'S EARNEST MONEY WILL BE NONREFUNDABLE, except 197 as otherwise provided in this Contract (e.g., Appraisal, Title, Survey). 198 5.3. Credit Information. If an existing loan is not to be released at Closing, this Contract is conditional (for the sole 199 benefit of Seller) upon Seller's approval of Buyer's financial ability and creditworthiness, which approval will be at Seller's sole 200 subjective discretion. Accordingly: (1) Buyer must supply to Seller by Buyer's Credit Information Deadline (§ 3), at Buyer's 201 expense, information and documents (including a current credit report) concerning Buyer's financial, employment and credit 202 condition; (2) Buyer consents that Seller may verify Buyer's financial ability and creditworthiness; and (3) any such information 203 and documents received by Seller must be held by Seller in confidence, and not released to others except to protect Seller's interest 204 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 205 § 25.1, on or before Closing. if Seller disapproves of Buyer's financial ability or creditworthiness, in Seller's sole subjective 206 discretion, Seller has the Right to Terminate under § 25.1, on or before Disapproval of Buyer's Credit Information Deadline 207 (§ 3). 208 5.4. Existing Loan Review. If an existing loan is not to be released at Closing, Seller must deliver copies of the loan 209 documents (including note, deed of trust, and any modifications) to Buyer by Existing Loan Documents Deadline (§ 3). For the 210 sole benefit of Buyer, this Contract is conditional upon Buyer's review and approval of the provisions of such loan documents. 211 Buyer has the Right to Terminate under § 25.1, on or before Existing Loan Documents Objection Deadline (§ 3), based on any 212 unsatisfactory provision of such loan documents, in Buyer's sole subjective discretion. if the lender's approval of a transfer of the 213 Property is required, this Contract is conditional upon Buyer's obtaining such approval without change in the terms of such loan, 214 except as set forth in § 4.6. If lender's approval is not obtained by Loan Transfer Approval Deadline (§ 3), this Contract will 215 terminate on such deadline. Seller has the Right to Terminate under § 25.1, on or before Closing, in Seller's sole subjective 216 discretion, if Seller is to be released from liability under such existing loan and Buyer does not obtain such compliance as set forth 217 in § 4.6. CBS4-8-13. CONTRACT TO BUY AND SELL REAL ESTATE (LAND) Page 5 of 17 218 6. APPRAISAL PROVISIONS. 219 6.1. Lender Property Requirements. If the lender imposes any requirements or repairs (Requirements) to be made to 220 the Property (e.g., roof repair, repainting), beyond those matters already agreed to by Seller in this Contract, Seller has the Right to 221 Terminate under § 25.1, (notwithstanding § 10 of this Contract), on or before three days following Seller's receipt of the 222 Requirements, based on any unsatisfactory Requirements, in Seller's sole subjective discretion. Seller's Right to Terminate in this 223 § 6.1 does not apply if, on or before any termination by Seller pursuant to this § 6.1: (1) the parties enter into a written agreement 224 regarding the Requirements; or (2) the Requirements have been completed; or (3) the satisfaction of the Requirements is waived in 225 writing by Buyer. 226 6.2. Appraisal Condition. The applicable Appraisal provision set forth below applies to the respective loan type set 227 forth in § 4.53, or if a cash transaction (i.e. no financing), § 6.2.1 applies. 228 6.2.1. ConventionaUOther. Buyer has the sole option and election to terminate this Contract if the Property's 229 valuation, determined by an appraiser engaged on behalf of is less than the Purchase 230 Price. The appraisal must be received by Buyer or Buyer's lender on or before Appraisal Deadline (§ 3). Buyer has the Right to 231 Terminate under § 25.1, on or before Appraisal Objection Deadline (§ 3), if the Property's valuation is less than the Purchase 232 Price and Seller's receipt of either a copy of such appraisal or written notice from lender that confirms the Property's valuation is 233 less than the Purchase Price. This § 6.2.1 is for the sole benefit of Buyer. 234 6.3. Cost of Appraisal. Cost of any appraisal to be obtained after the date of this Contract must be timely paid by 235 ® Buyer 0 Seller. The cost of the appraisal may include any and all fees paid to the appraiser, appraisal management company, 236 lender's agent or all three. 237 7. OWNERS' ASSOCIATION. This Section is applicable if the Property is located within a Common Interest 238 Community and subject to such declaration. 239 7.1. Owners' Association Documents. Owners' Association Documents (Association Documents) consist of the 240 following: 241 7.1.1. All Owners' Association declarations, articles of incorporation, bylaws, articles of organization, operating 242 agreements, rules and regulations, party wall agreements; 243 7.1.2. Minutes of most recent annual owners' meeting; 244 7.1.3. Minutes of any directors' or managers' meetings during the six-month period immediately preceding the 245 date of this Contract. If none of the preceding minutes exist, then the most recent minutes, if any (§§ 7.1.1, 7.1.2 and 7.1.3, 246 collectively, Governing Documents); and 247 7.1.4. The most recent financial documents which consist of: (1) annual and most recent balance sheet, (2) annual 248 and most recent income and expenditures statement, (3) annual budget, (4) reserve study, and (5) notice of unpaid assessments, if 249 any (collectively, Financial Documents). 250 7.2. Common Interest Community Disclosure. THE PROPERTY IS LOCATED WITHIN A COMMON 251 INTEREST COMMUNITY AND IS SUBJECT TO THE DECLARATION FOR SUCH COMMUNITY. THE OWNER 252 OF THE PROPERTY WILL BE REQUIRED TO BE A MEMBER OF THE OWNERS' ASSOCIATION FOR THE 253 COMMUNITY AND WILL BE SUBJECT TO THE BYLAWS AND RULES AND REGULATIONS OF THE 254 ASSOCIATION. THE DECLARATION, BYLAWS, AND RULES AND REGULATIONS WILL IMPOSE FINANCIAL 255 OBLIGATIONS UPON THE OWNER OF THE PROPERTY, INCLUDING AN OBLIGATION TO PAY 256 ASSESSMENTS OF THE ASSOCIATION. IF THE OWNER DOES NOT PAY THESE ASSESSMENTS, THE 257 ASSOCIATION COULD PLACE A LIEN ON THE PROPERTY AND POSSIBLY SELL IT TO PAY THE DEBT. THE 258 DECLARATION, BYLAWS, AND RULES AND REGULATIONS OF THE COMMUNITY MAY PROHIBIT THE 259 OWNER FROM MAKING CHANGES TO THE PROPERTY WITHOUT AN ARCHITECTURAL REVIEW BY THE 260 ASSOCIATION (OR A COMMITTEE OF THE ASSOCIATION) AND THE APPROVAL OF THE ASSOCIATION. 261 PURCHASERS OF PROPERTY WITHIN THE COMMON INTEREST COMMUNITY SHOULD INVESTIGATE THE 262 FINANCIAL OBLIGATIONS OF MEMBERS OF THE ASSOCIATION. PURCHASERS SHOULD CAREFULLY 263 READ THE DECLARATION FOR THE COMMUNITY AND THE BYLAWS AND RULES AND REGULATIONS OF 264 THE ASSOCIATION. 265 7.3. Association Documents to Buyer. 266 ❑ 7.3.1. Seller to Provide Association Documents. Seller will cause the Association Documents to be provided to 267 Buyer, at Seller's expense, on or before Association Documents Deadline (§ 3). 268 0 7.3.2. Seller Authorizes Association. Seller authorizes the Association to provide the Association Documents to 269 Buyer, at Seller's expense. 270 7.3.3. Seller's Obligation. Seller's obligation to provide the Association Documents is fulfilled upon Buyer's 271 receipt of the Association Documents, regardless of who provides such documents. 272 Note: If neither box in this § 7.3 is checked, the provisions of § 7.3.1 apply. 273 7.4. Conditional on Buyer's Review. Buyer has the right to review the Association Documents. Buyer has the Right to 274 Terminate under § 25.1, on or before Association Documents Objection Deadline (§ 3), based on any unsatisfactory provision in 275 any of the Association Documents, in Buyer's sole subjective discretion. Should Buyer receive the Association Documents after CBS4-8-13. CONTRACT TO BUY AND SELL REAL ESTATE (LAND) Page 6 of 17 276 Association Documents Deadline (§ 3), Buyer, at Buyer's option, has the Right to Terminate under § 25.1 by Buyer's Notice to 277 Terminate received by Seller on or before ten days after Buyer's receipt of the Association Documents. If Buyer does not receive 278 the Association Documents, or if Buyer's Notice to Terminate would otherwise be required to be received by Seller after Closing 279 Date (§ 3), Buyer's Notice to Terminate must be received by Seller on or before Closing. If Seller does not receive Buyer's Notice 280 to Terminate within such time, Buyer accepts the provisions of the Association Documents as satisfactory, and Buyer waives any 281 Right to Terminate under this provision, notwithstanding the provisions of § 8.6 (Right of First Refusal or Contract Approval). 282 283 8. TITLE INSURANCE, RECORD TITLE AND OFF -RECORD TITLE. 284 8.1. Evidence of Record Title. 285 8.1.1. 2 Seller Selects Title Insurance Company. If this box is checked, Seller will select the title insurance 286 company to furnish the owner's title insurance policy at Seller's expense. On or before Record Title Deadline (§ 3), Seller must 287 furnish to Buyer, a current commitment for an owner's title insurance policy (Title Commitment), in an amount equal to the 288 Purchase Price, or if this box is checked, ❑ an Abstract of Title certified to a current date. Seller will cause the title insurance 289 policy to be issued and delivered to Buyer as soon as practicable at or after Closing. 290 8.1.2. ❑ Buyer Selects Title Insurance Company. If this box is checked, Buyer will select the title insurance 291 company to furnish the owner's title insurance policy at Buyer's expense. On or before Record Title Deadline (§ 3), Buyer must 292 furnish to Seller, a current commitment for an owner's title insurance policy (Title Commitment), in an amount equal to the 293 Purchase Price. 294 If neither box in § 8.1.1 or § 8.1.2 is checked, § 8.1.1 applies. 295 8.1.3. Owner's Extended Coverage (OEC). The Title Commitment ❑ Will ® Will Not commit to delete or 296 insure over the standard exceptions which relate to: (1) parties in possession, (2) unrecorded easements, (3) survey matters, (4) 297 unrecorded mechanics' liens, (5) gap period (effective date of commitment to date deed is recorded), and (6) unpaid taxes, 298 assessments and unredeemed tax sales prior to the year of Closing (OEC). If the title insurance company agrees to provide an 299 endorsement for OEC, any additional premium expense to obtain an endorsement for OEC will be paid by ® Buyer ❑ Seller 300 ❑ One -Half by Buyer and One -Half by Seller ❑ Other 301 Note: The title insurance company may not agree to delete or insure over any or all of the standard exceptions. 302 8.1.4. Title Documents. Title Documents consist of the following: (1) copies of any plats, declarations, 303 covenants, conditions and restrictions burdening the Property, and (2) copies of any other documents (or, if illegible, summaries of 304 such documents) listed in the schedule of exceptions (Exceptions) in the Title Commitment furnished to Buyer (collectively, Title 305 Documents). 306 8.1.5. Copies of Title Documents. Buyer must receive, on or before Record Title Deadline (§ 3), copies of all 307 Title Documents. This requirement pertains only to documents as shown of record in the office of the clerk and recorder in the 308 county where the Property is located. The cost of furnishing copies of the documents required in this Section will be at the expense 309 of the party or parties obligated to pay for the owner's title insurance policy. 310 8.1.6. Existing Abstracts of Title. Seller must deliver to Buyer copies of any abstracts of title covering all or any 311 portion of the Property (Abstract of Title) in Seller's possession on or before Record Title Deadline (§ 3). 312 8.2. Record Title. Buyer has the right to review and object to the Abstract of Title or Title Commitment and any of the 313 Title Documents, as set forth in § 8.4 (Right to Object to Title, Resolution) on or before Record Title Objection Deadline (§ 3). 314 Buyer's objection may be based on any unsatisfactory form or content of Title Commitment or Abstract of Title, notwithstanding § 315 13, or any other unsatisfactory title condition, in Buyer's sole subjective discretion. If the Abstract of Title, Title Commitment or 316 Title Documents are not received by Buyer, on or before the Record Title Deadline (§ 3), or if there is an endorsement to the Title 317 Commitment that adds a new Exception to title, a copy of the new Exception to title and the modified Title Commitment will be 318 delivered to Buyer. Buyer has until the earlier of Closing or ten days after receipt of such documents by Buyer to review and object 319 to: (I) any required Title Document not timely received by Buyer, (2) any change to the Abstract of Title, Title Commitment or 320 Title Documents, or (3) any endorsement to the Title Commitment. If Seller receives Buyer's Notice to Terminate or Notice of 321 Title Objection, pursuant to this § 8.2 (Record Title), any title objection by Buyer is governed by the provisions set forth in § 8.4 322 (Right to Object to Title, Resolution). If Seller has fulfilled all Seller's obligations, if any, to deliver to Buyer all documents 323 required by § 8.1 (Evidence of Record Title) and Seller does not receive Buyer's Notice to Terminate or Notice of Title Objection 324 by the applicable deadline specified above, Buyer accepts the condition of title as disclosed by the Abstract of Title, Title 325 Commitment and Title Documents as satisfactory. 326 8.3. Off -Record Title. Seller must deliver to Buyer, on or before Off -Record Title Deadline (§ 3), true copies of all 327 existing surveys in Seller's possession pertaining to the Property and must disclose to Buyer all easements, liens (including, 328 without limitation, governmental improvements approved, but not yet installed) or other title matters (including, without 329 limitation, rights of first refusal and options) not shown by public records, of which Seller has actual knowledge (Off -Record 330 Matters). Buyer has the right to inspect the Property to investigate if any third party has any right in the Property not shown by 331 public records (e.g., unrecorded easement, boundary line discrepancy or water rights). Buyer's Notice to Terminate or Notice of 332 Title Objection of any unsatisfactory condition (whether disclosed by Seller or revealed by such inspection, notwithstanding § 8.2 333 and § 13), in Buyer's sole subjective discretion, must be received by Seller on or before Off -Record Title Objection Deadline CBS4-8-13. CONTRACT TO BUY AND SELL REAL ESTATE (LAND) Page 7 of 17 334 (§ 3). If an Off -Record Matter is received by Buyer after the Off -Record Title Deadline (§ 3), Buyer has until the earlier of 335 Closing or ten days after receipt by Buyer to review and object to such Off -Record Matter. if Seller receives Buyer's Notice to 336 Terminate or Notice of Title Objection pursuant to this § 8.3 (Off -Record Title), any title objection by Buyer and this Contract arc 337 governed by the provisions set forth in § 8.4 (Right to Object to Title, Resolution). If Seller does not receive Buyer's Notice to 338 Terminate or Notice of Title Objection by the applicable deadline specified above, Buyer accepts title subject to such rights, if any, 339 of third parties of which Buyer has actual knowledge. 340 8.4. Right to Object to Title, Resolution. Buyer's right to object to any title matters includes, but is not limited to those 341 matters set forth in §§ 8.2 (Record Title), 8.3 (Off -Record Title) and 13 (Transfer of Title), in Buyer's sole subjective discretion. If 342 Buyer objects to any title matter, on or before the applicable deadline, Buyer has the following options: 343 8.4.1. Title Objection, Resolution. If Seller receives Buyer's written notice objecting to any title matter (Notice 344 of Title Objection) on or before the applicable deadline, and if Buyer and Seller have not agreed to a written settlement thereof on 345 or before Title Resolution Deadline (§ 3), this Contract will terminate on the expiration of Title Resolution Deadline (§ 3), 346 unless Seller receives Buyer's written withdrawal of Buyer's Notice of Title Objection (i.e., Buyer's written notice to waive 347 objection to such items and waives the Right to Terminate for that reason), on or before expiration of Title Resolution Deadline 348 (§ 3). If either the Record Title Deadline or the Off -Record Title Deadline, or both, are extended to the earlier of Closing or ten 349 days after receipt of the applicable documents by Buyer, pursuant to § 8.2 (Record Title) or § 8.3 (Off -Record Title), the Title 350 Resolution Deadline also will be automatically extended to the earlier of Closing or fifteen days after Buyer's receipt of the 351 applicable documents; or 352 8.4.2. Title Objection, Right to Terminate. Buyer may exercise the Right to Terminate under § 25.1, on or 353 before the applicable deadline, based on any unsatisfactory title matter, in Buyer's sole subjective discretion. 354 8.5. Special Taxing Districts. SPECIAL TAXING DISTRICTS MAY BE SUBJECT TO GENERAL OBLIGATION 355 INDEBTEDNESS THAT IS PAID BY REVENUES PRODUCED FROM ANNUAL TAX LEVIES ON THE TAXABLE 356 PROPERTY WITHIN SUCH DISTRICTS. PROPERTY OWNERS IN SUCH DISTRICTS MAY BE PLACED AT RISK 357 FOR INCREASED MILL LEVIES AND TAX TO SUPPORT THE SERVICING OF SUCH DEBT WHERE 358 CIRCUMSTANCES ARISE RESULTING IN THE INABILITY OF SUCH A DISTRICT TO DISCHARGE SUCH 359 INDEBTEDNESS WITHOUT SUCH AN INCREASE IN MILL LEVIES. BUYERS SHOULD INVESTIGATE THE 360 SPECIAL TAXING DISTRICTS IN WHICH THE PROPERTY 1S LOCATED BY CONTACTING THE COUNTY 361 TREASURER, BY REVIEWING THE CERTIFICATE OF TAXES DUE FOR THE PROPERTY, AND BY OBTAINING 362 FURTHER INFORMATION FROM IRE BOARD OF COUNTY COMMISSIONERS, THE COUNTY CLERK AND 363 RECORDER, OR THE COUNTY ASSESSOR. 364 Buyer has the Right to Terminate under § 25.1, on or before Off -Record Title Objection Deadline (§ 3), based on any 365 unsatisfactory effect of the Property being located within a special taxing district, in Buyer's sole subjective discretion. 366 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 367 this Contract, Seller must promptly submit this Contract according to the terms and conditions of such right. If the holder of the 368 right of first refusal exercises such right or the holder of a right to approve disapproves this Contract, this Contract will terminate. 369 If the right of first refusal is waived explicitly or expires, or the Contract is approved, this Contract will remain in full force and 370 effect. Seller must promptly notify Buyer in writing of the foregoing. If expiration or waiver of the right of first refusal or approval 371 of this Contract has not occurred on or before Right of First Refusal Deadline (§ 3), this Contract will then terminate. 372 8.7. Title Advisory. The Title Documents affect the tide, ownership and use of the Property and should be reviewed 373 carefully. Additionally, other matters not reflected in the Tide Documents may affect the title, ownership and use of the Property, 374 including, without limitation, boundary lines and encroachments, set -back requirements, area, zoning, building code violations, 375 unrecorded easements and claims of easements, leases and other unrecorded agreements, water on or under the Property, and 376 various laws and governmental regulations concerning land use, development and environmental matters. The surface estate may 377 be owned separately from the underlying mineral estate, and transfer of the surface estate does not necessarily include 378 transfer of the mineral rights or water rights. Third parties may hold interests in oil, gas, other minerals, geothermal 379 energy or water on or under the Property, which interests may give them rights to enter and use the Property. Such matters, 380 and others, may be excluded from or not covered by the owner's title insurance policy. Buyer is advised to timely consult legal 381 counsel with respect to all such matters as there are strict time limits provided in this Contract [e.g., Record Title Objection 382 Deadline (§ 3) and Off -Record Title Objection Deadline (§ 3)]. 383 9. CURRENT SURVEY REVIEW. 384 9.1. Current Survey Conditions. If the box in § 9.1.1 or § 9.1.2 is checked, Buyer, the issuer of the Title Commitment 385 or the provider of the opinion of title if an Abstract of Title, and will receive an 386 Improvement Location Certificate, Improvement Survey Plat or other form of survey set forth in § 9.1.2 (collectively, Current 387 Survey), on or before Current Survey Deadline (§ 3). The Current Survey will be certified by the surveyor to all those who are 388 to receive the Current Survey. 389 ❑ 9.1.1. Improvement Location Certificate. If the box in this § 9.1.1 is checked, Seller I Buyer will order or 390 provide, and pay, on or before Closing, the cost of an improvement Location Certificate. CBS4-8-13. CONTRACT TO BUY AND SELL REAL ESTATE (LAND) Page 8 of 17 d otloop signature ;erifi ca'ion 391 392 393 394 395 396 397 398 399 400 401 402 403 404 405 406 407 408 409 410 ❑ 9.1.2. Other Survey. If the box in this § 9.1.2 is checked, a Current Survey, other than an Improvement Location Certificate, will be an ❑ Improvement Survey Plat or in N/A . The parties agree that payment of the cost of the Current Survey and obligation to order or provide the Current Survey are as follows: Buyer is responsible to pay for any Survey Costs that may be incurred. 9.2. Current Survey Objection. Buyer has the right to review and object to the Current Survey. If the Current Survey is not timely received by Buyer or is unsatisfactory to Buyer, in Buyer's sole subjective discretion, Buyer may, on or before Current Survey Objection Deadline (§ 3), notwithstanding § 8.3 or § 13: 9.2.1. Notice to Terminate. Notify Seller in writing that this Contract is terminated; or 9.2.2. Current Survey Objection. Deliver to Seller a written description of any matter that was to be shown or is shown in the Current Survey that is unsatisfactory and that Buyer requires Seller to correct. 9.3. Current Survey Resolution. If a Current Survey Objection is received by Seller, on or before Current Survey Objection Deadline (§ 3), and if Buyer and Seller have not agreed in writing to a settlement thereof on or before Current Survey Resolution Deadline (§ 3), this Contract will terminate on the Current Survey Resolution Deadline (§ 3), unless Seller receives Buyer's written withdrawal of the Current Survey Objection before such termination, i.e., on or before expiration of Current Survey Resolution Deadline (§ 3). DISCLOSURE, INSPECTION AND DUE DILIGENCE 411 10. PROPERTY DISCLOSURE, INSPECTION, INDEMNITY, INSURABILITY, DUE DILIGENCE AND SOURCE 412 OF WATER. 413 10.1. Seller's Property Disclosure. On or before Seller's Property Disclosure Deadline (§ 3), Seller agrees to deliver to 414 Buyer the most current version of the applicable Colorado Real Estate Commission's Seller's Property Disclosure form completed 415 by Seller to Seller's actual knowledge, current as of the date of this Contract. 416 10.2. Inspection Objection. Unless otherwise provided in this Contract, Buyer acknowledges that Seller is conveying the 417 Property to Buyer in an "as is" condition, "where is" and "with all faults." Colorado law requires that Seller disclose to Buyer any 418 latent defects actually known by Seller. Disclosure of latent defects must be in writing. Buyer, acting in good faith, has the right to 419 have inspections (by one or more third parties, personally or both) of the Property and Inclusions (Inspection), at Buyer's expense. 420 if (1) the physical condition of the Property, including, but not limited to, the roof, walls, structural integrity of the Property, the 421 electrical, plumbing, HVAC and other mechanical systems of the Property, (2) the physical condition of the Inclusions, (3) service 422 to the Property (including utilities and communication services), systems and components of the Property (e.g., heating and 423 plumbing), (4) any proposed or existing transportation project, road, street or highway, or (5) any other activity, odor or noise 424 (whether on or off the Property) and its effect or expected effect on the Property or its occupants is unsatisfactory, in Buyer's sole 425 subjective discretion, Buyer may, on or before Inspection Objection Deadline (§ 3): 426 10.2.1. Notice to Terminate. Notify Seller in writing that this Contract is terminated; or 427 10.2.2. Inspection Objection. Deliver to Seller a written description of any unsatisfactory physical condition that 428 Buyer requires Seller to correct. 429 10.3. Inspection Resolution. If an Inspection Objection is received by Seller, on or before Inspection Objection 430 Deadline (§ 3) and if Buyer and Seller have not agreed in writing to a settlement thereof on or before Inspection Resolution 431 Deadline (§ 3), this Contract will terminate on Inspection Resolution Deadline (§ 3) unless Seller receives Buyer's written 432 withdrawal of the Inspection Objection before such termination, i.e., on or before expiration of Inspection Resolution Deadline 433 (§ 3). 434 10.4. Damage, Liens and Indemnity. Buyer, except as otherwise provided in this Contract or other written agreement 435 between the parties, is responsible for payment for all inspections, tests, surveys, engineering reports, or other reports performed at 436 Buyer's request (Work) and must pay for any damage that occurs to the Property and Inclusions as a result of such Work. Buyer 437 must not permit claims or liens of any kind against the Property for Work performed on the Property. Buyer agrees to indemnify, 438 protect and hold Seller harmless from and against any liability, damage, cost or expense incurred by Seller and caused by any such 439 Work, claim, or lien. This indemnity includes Seller's right to recover all costs and expenses incurred by Seller to defend against 440 any such liability, damage, cost or expense, or to enforce this section, including Seller's reasonable attorney fees, legal fees and 441 expenses. The provisions of this section survive the termination of this Contract. This § 10.4 does not apply to items performed 442 pursuant to an Inspection Resolution. 443 10.5. Insurability. Buyer has the right to review and object to the availability, terms and conditions of and premium for 444 property insurance (Property Insurance). Buyer has the Right to Terminate under § 25.1, on or before Property Insurance 445 Objection Deadline (§ 3), based on any unsatisfactory provision of the Property Insurance, in Buyer's sole subjective discretion. 446 10.6. Due Diligence. CBS4-8-13. CONTRACT TO BUY AND SELL REAL ESTATE (LAND) Page 9 of 17 447 448 449 450 451 452 453 454 455 456 457 458 459 460 461 462 463 464 465 466 467 468 469 470 471 472 473 474 475 476 477 478 479 480 481 482 483 484 485 486 487 488 489 490 491 492 493 494 495 496 497 498 499 500 501 502 503 504 505 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 (§ 3): ❑ 10.6.1.1. All contracts relating to the operation, maintenance and management of the Property; ❑ 10.6.1.2. Property tax bills for the last years; ❑ 10.6.1.3. 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; ❑ 10.6.1.4. A list of all Inclusions to be conveyed to Buyer; ❑ 10.6.1.5. Operating statements for the past years; ❑ 10.6.1.6. 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): N/A ❑ 10.6.1.8. A schedule of any tenant improvement work Seller is obligated to complete but has not yet been 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 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 B 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 arc 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 permits, licenses or use authorizations, if any; and 10.6.1.14. Other documents and information: N/A 10.6.2. Due Diligence Documents Review and Objection. Buyer has the right to review and object to Due Diligence Documents. If the Due Diligence Documents are not supplied to Buyer or are unsatisfactory in Buyer's sole subjective discretion, Buyer, may, on or before Due Diligence Documents Objection Deadline (§ 3): 10.6.2.1. Notice to Terminate. Notify Seller in writing that this Contract is terminated; or 10.6.2.2. Due Diligence Documents Objection. Deliver to Seller a written description of any unsatisfactory Due Diligence Documents that Buyer requires Seller to correct. 10.6.3. Due Diligence Documents Resolution. If a Due Diligence Documents Objection is received by Seller, on or before Due Diligence Documents Objection Deadline (§ 3), and if Buyer and Seller have not agreed in writing to a settlement thereof on or before Due Diligence Documents Resolution Deadline (§ 3), this Contract will terminate on Due Diligence Documents Resolution Deadline (§ 3) unless Seller receives Buyer's written withdrawal of the Due Diligence Documents Objection before such termination, i.e., on or before expiration of Due Diligence Documents Resolution Deadline (§ 3). 10.6.4. Zoning. Buyer has the Right to Terminate under § 25.1, on or before Due Diligence Documents Objection Deadline (§ 3), based on any unsatisfactory zoning and any use restrictions imposed by any governmental agency with jurisdiction over the Property, in Buyer's sole subjective discretion. 10.6.5. Due Diligence —Environmental, ADA. Buyer has the right to obtain environmental inspections of the Property including Phase I and Phase II Environmental Site Assessments, as applicable. O Seller C Buyer will order or provide ❑ Phase I Environmental Site Assessment, ❑ Phase 111 Environmental Site Assessment (compliant with ASTM E1527-05 standard practices for Environmental Site Assessments) and/or O , at the expense of In Seller ❑ Buyer (Environmental Inspection). In addition, Buyer, at Buyer's expense, may also conduct an evaluation whether the Property complies with the Americans with Disabilities Act (ADA Evaluation). All such inspections and evaluations must be conducted at such times as are mutually agreeable to minimize the interruption of Seller's and any Seller's tenants' business uses of the Property, if any. CBS4-8-13. CONTRACT TO BUY AND SELL REAL ESTATE (LAND) Page 10 of 17 506 If Buyer's Phase I Environmental Site Assessment recommends a Phase II Environmental Site Assessment, the 507 Environmental Inspection Objection Deadline (§ 3) will be extended by days (Extended Environmental Inspection 508 Objection Deadline) and if such Extended Environmental Inspection Objection Deadline extends beyond the Closing Date (§ 3), 509 the Closing Date (§ 3) will be extended a like period of time. In such event, ❑ Seller ® Buyer must pay the cost for such Phase 510 II Environmental Site Assessment. 511 Notwithstanding Buyer's right to obtain additional environmental inspections of the Property in this § 10.6.5, Buyer has the 512 Right to Terminate under § 25.1, on or before Environmental Inspection Objection Deadline (§ 3), or if applicable the Extended 513 Environmental Inspection Objection Deadline, based on any unsatisfactory results of Environmental Inspection, in Buyer's sole 514 subjective discretion. 515 Buyer has the Right to Terminate under § 25.1, on or before ADA Evaluation Objection Deadline (§ 3), based on any 516 unsatisfactory ADA Evaluation, in Buyer's sole subjective discretion. 517 10.7. Conditional Upon Sale of Property. This Contract is conditional upon the sale and closing of that certain property 518 owned by Buyer and commonly known as N/A . Buyer 519 has the Right to Terminate under § 25.1 effective upon Seller's receipt of Buyer's Notice to Terminate on or before Conditional 520 Sale Deadline (§ 3) if such property is not sold and closed by such deadline. This § 10.7 is for the sole benefit of Buyer. If Seller 521 does not receive Buyer's Notice to Terminate on or before Conditional Sale Deadline (§ 3), Buyer waives any Right to Terminate 522 under this provision. 523 10.8. Source of Potable Water (Residential Land and Residential Improvements Only). Buyer O Does ® Does Not 524 acknowledge receipt of a copy of Seller's Property Disclosure or Source of Water Addendum disclosing the source of potable 525 water for the Property. Buyer ® Does ® Does Not acknowledge receipt of a copy of the current well permit. ® There is No Well. 526 Note to Buyer: SOME WATER PROVIDERS RELY, TO VARYING DEGREES, ON NONRENEWABLE GROUND 527 WATER. YOU MAY WISH TO CONTACT YOUR PROVIDER (OR INVESTIGATE THE DESCRIBED SOURCE) TO 528 DETERMINE THE LONG-TERM SUFFICIENCY OF THE PROVIDER'S WATER SUPPLIES. 529 10.9. Existing Leases; Modification of Existing Leases; New Leases. Seller states that none of the Leases to be assigned 530 to the Buyer at the time of Closing contain any rent concessions, rent reductions or rent abatements except as disclosed in the 531 Lease or other writing received by Buyer. Seller will not amend, alter, modify, extend or cancel any of the Leases nor will Seller 532 enter into any new leases affecting the Property without the prior written consent of Buyer, which consent will not be unreasonably 533 withheld or delayed. 534 11. TENANT ESTOPPEL STATEMENTS. 535 11.1. Tenant Estoppel Statements Conditions. Buyer has the right to review and object to any Estoppel Statements. 536 Seller must obtain and deliver to Buyer on or before Tenant Estoppel Statements Deadline (§ 3), statements in a form and 537 substance reasonably acceptable to Buyer, from each occupant or tenant at the Property (Estoppel Statement) attached to a copy of 538 the Lease stating: 539 11.1.1. The commencement date of the Lease and scheduled termination date of the Lease; 540 11.1.2. That said Lease is in full force and effect and that there have been no subsequent modifications or 541 amendments; 542 11.1.3. The amount of any advance rentals paid, rent concessions given, and deposits paid to Seller; 543 11.1.4. The amount of monthly (or other applicable period) rental paid to Seller; 544 11.1.5. That there is no default under the terms of said Lease by landlord or occupant; and 545 11.1.6. That the Lease to which the Estoppel is attached is a true, correct and complete copy of the Lease demising 546 the premises it describes. 547 11.2. Tenant Estoppel Statements Objection. Buyer has the Right to Terminate under § 25.1, on or before Tenant 548 Estoppel Statements Objection Deadline (§ 3), based on any unsatisfactory Estoppel Statement, in Buyer's sole subjective 549 discretion, or if Seller fails to deliver the Estoppel Statements on or before Tenant Estoppel Statements Deadline (§ 3). Buyer 550 also has the unilateral right to waive any unsatisfactory Estoppel Statement. 551 552 CLOSING PROVISIONS 553 12. CLOSING DOCUMENTS, INSTRUCTIONS AND CLOSING. 554 12.1. Closing Documents and Closing Information. Seller and Buyer will cooperate with the Closing Company to 555 enable the Closing Company to prepare and deliver documents required for Closing to Buyer and Seller and their designees. If 556 Buyer is obtaining a new loan to purchase the Property, Buyer acknowledges Buyer's lender is required to provide the Closing 557 Company, in a timely manner, all required loan documents and financial information concerning Buyer's new loan. Buyer and 558 Seller will furnish any additional information and documents required by Closing Company that will be necessary to complete this 559 transaction. Buyer and Seller will sign and complete all customary or reasonably required documents at or before Closing. CBS4-8-13. CONTRACT TO BUY AND SELL REAL ESTATE (LAND) Page 11 of 17 560 12.2. Closing Instructions. Colorado Real Estate Commission's Closing Instructions in Are ® Are Not executed with 561 this Contract. 562 12.3. Closing. Delivery of deed from Seller to Buyer will be at closing (Closing). Closing will be on the date specified as 563 the Closing Date (§ 3) or by mutual agreement at an earlier date. The hour and place of Closing will be as designated by 564 SELLER 565 12.4. Disclosure of Settlement Costs. Buyer and Seller acknowledge that costs, quality, and extent of service vary 566 between different settlement service providers (e.g., attorneys, lenders, inspectors and title companies). 567 13. TRANSFER OF TITLE. Subject to tender of payment at Closing as required herein and compliance by Buyer with the 568 other terms and provisions hereof, Seller must execute and deliver a good and sufficient special Warranty Deed deed 569 to Buyer, at Closing, conveying the Property free and clear of all taxes except the general taxes for the year of Closing. Except as 570 provided herein, title will be conveyed free and clear of all liens, including any governmental liens for special improvements 571 installed as of the date of Buyer's signature hereon, whether assessed or not. Title will be conveyed subject to: 572 13.1. Those specific Exceptions described by reference to recorded documents as reflected in the Title Documents 573 accepted by Buyer in accordance with Record Title (§ 8.2), 574 13.2. Distribution utility easements (including cable TV), 575 13.3. Those specifically described rights of third parties not shown by the public records of which Buyer has actual 576 knowledge and which were accepted by Buyer in accordance with Off -Record Title (§ 8.3) and Current Survey Review (§ 9), 577 13.4. Inclusion of the Property within any special taxing district, 578 13.5. Any special assessment if the improvements were not installed as of the date of Buyer's signature hereon, whether 579 assessed prior to or after Closing, and 580 13.6. Other N/A 581 14. PAYMENT OF ENCUMBRANCES. Any encumbrance required to be paid will be paid at or before Closing from the 582 proceeds of this transaction or from any other source. 583 15. CLOSING COSTS, CLOSING FEE, ASSOCIATION FEES AND TAXES. 584 15.1. Closing Costs. Buyer and Seller must pay, in Good Funds, their respective closing costs and all other items required 585 to be paid at Closing, except as otherwise provided herein. 586 15.2. Closing Services Fee. The fee for real estate closing services must be paid at Closing by ❑ Buyer in Seller 587 ® One -Half by Buyer and One -Half by Seller in Other 588 15.3. Status Letter and Record Change Fees. Any fees incident to the issuance of Association's statement of 589 assessments (Status Letter) must be paid by ❑ Buyer in Seller 8 One -Half by Buyer and One -Half by Seller ® None. 590 Any record change fee assessed by the Association including, but not limited to, ownership record transfer fees, regardless of name 591 or title of such fee (Association's Record Change Fee) must be paid by ❑ Buyer in Seller in One -Half by Buyer and One - 592 Half by Seller ® None. 593 15.4. Local Transfer Tax. ❑ The Local Transfer Tax of % of the Purchase Price must be paid at Closing by 594 ❑ Buyer ❑ Seller in One -Half by Buyer and One -Half by Seller ® None. 595 15.5. Private Transfer Fee. Private transfer fees and other fees due to a transfer of the Property, payable at Closing, such 596 as community association fees, developer fees and foundation fees, must be paid at Closing by El Buyer in Seller ❑ One - 597 Half by Buyer and One -Half by Seller 2 None. The Private Transfer fee, whether one or more, is for the following 598 association(s): N/A in the total amount of N/A % of the Purchase 599 Price or $ 600 15.6. Water Transfer Fees. The Water Transfer Fees can change. The fees, as of the date of this Contract, do not exceed 601 $ `, for: 602 ❑ Water Stock/Certificates ❑ Water District 603 ❑ Augmentation Membership Small Domestic Water Company ❑ 604 and must be paid at Closing by In Buyer Seller ❑ One -Half by Buyer and One -Half by Seller 2 None. 605 15.7. Sales and Use Tax. Any salts and use tax that may accrue because of this transaction must be paid when due by ❑ 606 Buyer in Seller ❑ One -Half by Buyer and One -Half by Seller ®None. 607 16. PRORATIONS. The following will be prorated to the Closing Date (§ 3), except as otherwise provided: 608 16.1. Taxes. Personal property taxes, if any, special taxing district assessments, if any, and general real estate taxes for the 609 year of Closing, based on ❑ Taxes for the Calendar Year Immediately Preceding Closing ® Most Recent Mill Levy and 610 Most Recent Assessed Valuation, or ❑ Other 611 16.2. Rents. Rents based on ❑ Rents Actually Received In Accrued. At Closing, Seller will transfer or credit to 612 Buyer the security deposits for all Leases assigned, or any remainder after lawful deductions, and notify all tenants in writing of 613 such transfer and of the transferee's name and address. Seller must assign to Buyer all Leases in effect at Closing and Buyer must 614 assume Seller's obligations under such Leases. CBS4-8-13. CONTRACT TO BUY AND SELL REAL ESTATE (LAND) Page 12 of 17 615 16.3. Association Assessments. Current regular Association assessments and dues (Association Assessments) paid in 616 advance will be credited to Seller at Closing. Cash reserves held out of the regular Association Assessments for deferred 617 maintenance by the Association will not be credited to Seller except as may be otherwise provided by the Governing Documents. 618 Buyer acknowledges that Buyer may be obligated to pay the Association, at Closing, an amount for reserves or working capital. 619 Any special assessment assessed prior to Closing Date (§ 3) by the Association will be the obligation of ❑ Buyer ❑ Seller. 620 Except however, any special assessment by the Association for improvements that have been installed as of the date of Buyer's 621 signature hereon, whether assessed prior to or after Closing, will be the obligation of Seller. Seller represents that the Association 622 Assessments are currently payable at approximately $ N/A per and that there are no unpaid 623 regular or special assessments against the Property except the current regular assessments and 624 . Such assessments are subject to change as provided in the 625 Governing Documents. Seller agrees to promptly request the Association to deliver to Buyer before Closing Date (§ 3) a current 626 Status Letter. 627 16.4. Other Prorations. Water and sewer charges, propane, interest on continuing loan, and N/A 628 16.5. Final Settlement. Unless otherwise agreed in writing, these prorations are final. 629 17. POSSESSION. Possession of the Property will be delivered to Buyer on Possession Date (§ 3) at Possession Time (§ 3), 630 subject to the Leases as set forth in § 10.6.1.7. 631 632 If Seller, after Closing, fails to deliver possession as specified, Seller will be subject to eviction and will be additionally liable 633 to Buyer for payment otil per day (or any part of a day notwithstanding § 18.1) from Possession Date (§ 3) 634 and Possession Time (§ 3) until possession is delivered. 635 636 GENERAL PROVISIONS 637 18. DAY; COMPUTATION OF PERIOD OF DAYS, DEADLINE. 638 18.1. Day. As used in this Contract, the term "day" means the entire day ending at 11:59 p.m., United States Mountain 639 Time (Standard or Daylight Savings as applicable). 640 18.2. Computation of Period of Days, Deadline. In computing a period of days, when the ending date is not specified, 641 the first day is excluded and the last day is included (e.g., three days after MEC). If any deadline falls on a Saturday, Sunday or 642 federal or Colorado state holiday (Holiday), such deadline IrA Will ❑ Will Not be extended to the next day that is not a 643 Saturday, Sunday or Holiday. Should neither box be checked, the deadline will not be extended. 644 19. CAUSES OF LOSS, INSURANCE; DAMAGE TO INCLUSIONS AND SERVICES; CONDEMNATION; AND 645 WALK-THROUGH. Except as otherwise provided in this Contract, the Property, Inclusions or both will be delivered in the 646 condition existing as of the date of this Contract, ordinary wear and tear excepted. 647 19.1. Causes of Loss, Insurance. Tn the event the Property or Inclusions are damaged by fire, other perils or causes of 648 loss prior to Closing in an amount of not more than ten percent of the total Purchase Price (Property Damage), Seller is obligated 649 to repair the same before Closing Date (§ 3). Buyer has the Right to Terminate under § 25.1, on or before Closing Date (§ 3), if 650 the Property Damage is not repaired before Closing Date (§ 3) or if the damage exceeds such sum. Should Buyer elect to carry out 651 this Contract despite such Property Damage, Buyer is entitled to a credit at Closing for all insurance proceeds that were received 652 by Seller (but not the Association, if any) resulting from such damage to the Property and Inclusions, plus the amount of any 653 deductible provided for in such insurance policy. Such credit must not exceed the Purchase Price. In the event Seller has not 654 received such insurance proceeds prior to Closing, the parties may agree to extend the Closing Date (§ 3) or, at the option of 655 Buyer, Seller must assign such proceeds at Closing, plus credit Buyer the amount of any deductible provided for in such insurance 656 policy, but not to exceed the total Purchase Price. 657 19.2. Damage, Inclusions and Services. Should any Inclusion or service (including utilities and communication 658 services), system, component or fixture of the Property (collectively Service), e.g., heating or plumbing, fail or be damaged 659 between the date of this Contract and Closing or possession, whichever is earlier, then Seller is liable for the repair or replacement 660 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 661 maintenance or replacement of such Inclusion or Service is not the responsibility of the Association, if any, less any insurance 662 proceeds received by Buyer covering such repair or replacement. If the failed or damaged Inclusion or Service is not repaired or 663 replaced on or before Closing or possession, whichever is earlier, Buyer has the Right to Terminate under § 25.1, on or before 664 Closing Date (§ 3), or, at the option of Buyer, Buyer is entitled to a credit at Closing for the repair or replacement of such 665 Inclusion or Service. Such credit must not exceed the Purchase Price. If Buyer receives such a credit, Seller's right for any claim 666 against the Association, if any, will survive Closing. Seller and Buyer are aware of the existence of pre -owned home warranty 667 programs that may be purchased and may cover the repair or replacement of such Inclusions. CBS4-8-13. CONTRACT TO BUY AND SELL REAL ESTATE (LAND) Page 13 of 17 668 19.3. Condemnation. In the event Seller receives actual notice prior to Closing that a pending condemnation action may 669 result in a taking of all or part of the Property or Inclusions, Seller must promptly notify Buyer, in writing, of such condemnation 670 action. Buyer has the Right to Terminate under § 25.1, on or before Closing Date (§ 3), based on such condemnation action, in 671 Buyer's sole subjective discretion. Should Buyer elect to consummate this Contract despite such diminution of value to the 672 Property and Inclusions, Buyer is entitled to a credit at Closing for all condemnation proceeds awarded to Seller for the diminution 673 in the value of the Property or Inclusions but such credit will not include relocation benefits or expenses, or exceed the Purchase 674 Price. 675 19.4. Walk -Through and Verification of Condition. Buyer, upon reasonable notice, has the right to walk through the 676 Property prior to Closing to verify that the physical condition of the Property and Inclusions complies with this Contract. 677 19.5. Risk of Loss — Growing Crops. The risk of loss for damage to growing crops by fire or other casualty will be borne 678 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 679 the growing crops. 680 20. RECOMMENDATION OF LEGAL AND TAX COUNSEL. By signing this Contract, Buyer and Seller acknowledge 681 that the respective broker has advised that this Contract has important legal consequences and has recommended the examination 682 of title and consultation with legal and tax or other counsel before signing this Contract. 683 21. TIME OF ESSENCE, DEFAULT AND REMEDIES. Time is of the essence hereof. If any note or check received as 684 Earnest Money hereunder or any other payment due hereunder is not paid, honored or tendered when due, or if any obligation 685 hereunder is not performed or waived as herein provided, the nondefaulting party has the following remedies: 686 21.1. If Buyer is in Default: 687 21.1.1. Specific Performance. Seller may elect to treat this Contract as canceled, in which case all Earnest Money 688 (whether or not paid by Buyer) will be paid to Seller and retained by Seller; and Seller may recover such damages as may be 689 proper; or Seller may elect to treat this Contract as being in full force and effect and Seller has the right to specific performance or 690 damages, or both. 691 21.1.2. Liquidated Damages, Applicable. This § 21.1.2 applies unless the box in 4 21.1.1. is checked. All 692 Earnest Money (whether or not paid by Buyer) will be paid to Seller, and retained by Seller. Both parties will thereafter be released 693 from all obligations hereunder. It is agreed that the Earnest Money specified in § 4.1 is LIQUIDATED DAMAGES, and not a 694 penalty, which amount the parties agree is fair and reasonable and (except as provided in §§ 10.4, 22, 23 and 24), said payment of 695 Earnest Money is SELLER'S ONLY REMEDY for Buyer's failure to perform the obligations of this Contract. Seller expressly 696 waives the remedies of specific performance and additional damages. 697 21.2. If Seller is in Default: Buyer may elect to treat this Contract as canceled, in which case all Earnest Money received 698 hereunder will be returned and Buyer may recover such damages as may be proper, or Buyer may elect to treat this Contract as 699 being in full force and effect and Buyer has the right to specific performance or damages, or both. 700 22. LEGAL FEES, COST AND EXPENSES. Anything to the contrary herein notwithstanding, in the event of any arbitration 701 or litigation relating to this Contract, prior to or after Closing Date (§ 3), the arbitrator or court must award to the prevailing party 702 all reasonable costs and expenses, including attorney fees, legal fees and expenses. 703 23. MEDIATION. If a dispute arises relating to this Contract, prior to or after Closing, and is not resolved, the parties must first 704 proceed in good faith to submit the matter to mediation. Mediation is a process in which the parties meet with an impartial person 705 who helps to resolve the dispute informally and confidentially. Mediators cannot impose binding decisions. The parties to the 706 dispute must agree, in writing, before any settlement is binding. The parties will jointly appoint an acceptable mediator and will 707 share equally in the cost of such mediation. The mediation, unless otherwise agreed, will terminate in the event the entire dispute is 708 not resolved within thirty days of the date written notice requesting mediation is delivered by one party to the other at the party's 709 last known address. This section will not alter any date in this Contract, unless otherwise agreed. 710 24. EARNEST MONEY DISPUTE. Except as otherwise provided herein, Earnest Money Holder must release the Earnest 711 Money following receipt of written mutual instructions, signed by both Buyer and Seller. In the event of any controversy regarding 712 the Earnest Money, Earnest Money Holder is not required to release the Earnest Money. Earnest Money Holder, in its sole 713 subjective discretion, has several options: (1) wait for any proceeding between Buyer and Seller; (2) interplead all parties and 714 deposit Earnest Money into a court of competent jurisdiction, (Earnest Money Holder is entitled to recover court costs and 715 reasonable attorney and legal fees incurred with such action); or (3) provide notice to Buyer and Seller that unless Earnest Money 716 Holder receives a copy of the Summons and Complaint or Claim (between Buyer and Seller) containing the case number of the 717 lawsuit (Lawsuit) within one hundred twenty days of Earnest Money Holder's notice to the parties, Earnest Money Holder is 718 authorized to return the Earnest Money to Buyer. In the event Earnest Money Holder does receive a copy of the Lawsuit, and has 719 not interpled the monies at the time of any Order, Earnest Money Holder must disburse the Earnest Money pursuant to the Order 720 of the Court. The parties reaffirm the obligation of Mediation (§ 23). This Section will survive cancellation or termination of this 721 Contract. CBS4-8-13. CONTRACT TO BUY AM) SELL REAL ESTATE (LAN)) Page 14 of 17 dotloop signature verification: 722 25. TERMINATION. 723 25.1. Right to Terminate. If a party has a right to terminate, as provided in this Contract (Right to Terminate), the 724 termination is effective upon the other party's receipt of a written notice to terminate (Notice to Terminate), provided such written 725 notice was received on or before the applicable deadline specified in this Contract. If the Notice to Terminate is not received on or 726 before the specified deadline, the party with the Right to Terminate accepts the specified matter, document or condition as 727 satisfactory and waives the Right to Terminate under such provision. 728 25.2. Effect of Termination. In the event this Contract is terminated, all Earnest Money received hereunder will be 729 returned and the parties arc relieved of all obligations hereunder, subject to §§ 10.4, 22, 23 and 24. 730 26. ENTIRE AGREEMENT, MODIFICATION, SURVIVAL. This Contract, its exhibits and specified addenda, constitute 731 the entire agreement between the parties relating to the subject hereof, and any prior agreements pertaining thereto, whether oral or 732 written, have been merged and integrated into this Contract. No subsequent modification of any of the terms of this Contract is 733 valid, binding upon the parties, or enforceable unless made in writing and signed by the parties. Any right or obligation in this 734 Contract that, by its terms, exists or is intended to be performed after termination or Closing survives the same. 735 27. NOTICE, DELIVERY, AND CHOICE OF LAW. 736 27.1. Physical Delivery. All notices must be in writing, except as provided in § 27.2. Any document, including a signed 737 document or notice, from or on behalf of Seller, and delivered to Buyer is effective when physically received by Buyer, any 738 signatory on behalf of Buyer, any named individual of Buyer, any representative of Buyer, or Brokerage Firm of Broker working 739 with Buyer (except for delivery, after Closing, of the notice requesting mediation described in § 23 and except as provided in 740 § 27.2). Any document, including a signed document or notice, from or on behalf of Buyer, and delivered to Seller is effective 741 when physically received by Seller, any signatory on behalf of Seller, any named individual of Seller, any representative of Seller, 742 or Brokerage Firm of Broker working with Seller (except for delivery, after Closing, of the notice requesting mediation described 743 in § 23 and except as provided in § 27.2). 744 27.2. Electronic Delivery. As an alternative to physical delivery, any document, including a signed document or written 745 notice, may be delivered in electronic form only by the following indicated methods: ® Facsimile ® Email 746 ® Internet. If no box is checked, this § 27.2 is not applicable and § 27.1 governs notice and delivery. Documents with original 747 signatures will be provided upon request of any party. 748 27.3. Choice of Law. This Contract and all disputes arising hereunder are governed by and construed in accordance with 749 the laws of the State of Colorado that would be applicable to Colorado residents who sign a contract in Colorado for property 750 located in Colorado. 751 28. NOTICE OF ACCEPTANCE, COUNTERPARTS. This proposal will expire unless accepted in writing, by Buyer and 752 Seller, as evidenced by their signatures below, and the offering party receives notice of such acceptance pursuant to § 27 on or 753 before Acceptance Deadline Date (§ 3) and Acceptance Deadline Time (§ 3). If accepted, this document will become a contract 754 between Seller and Buyer. A copy of this Contract may be executed by each party, separately, and when each party has executed a 755 copy thereof, such copies taken together are deemed to be a full and complete contract between the parties. 756 757 758 759 760 761 762 763 764 765 766 767 768 769 770 771 772 773 29. GOOD FAITH. Buyer and Seller acknowledge that each party has an obligation to act in good faith, including but not limited to exercising the rights and obligations set forth in the provisions of Financing Conditions and Obligations (§ 5), Title Insurance, Record Title and Off -Record Tide (§ 8), Current Survey Review (§ 9) and Property Disclosure, Inspection, Indemnity, Insurability, Due Diligence and Source of Water (§ 10). ADDITIONAL PROVISIONS AND ATTACHMENTS 30. ADDITIONAL PROVISIONS. (The following additional provisions have not been approved by the Colorado Real Estate Commission.) Dili'. offer to mut liattai, all1111 i U' IIt 1111( Pll ins; able to secure the necessary permits from WELD r,, up ll rUii II a ,, !,I a n ,<r, u�nl !111 l I lll,l. If the necessary permits cannot be obtained, this I I IIt,A hall I. tat !Mi !Mama! :utri shall be returned to the BUYER. I lilt CLOSING date will he set AFTER the temporary permits are secured from WELD County. (\!l)l l`. FIT i;II,rr llaenlrl t:llli 11itvll 1.1I l men'.)' I'I;irlliiin dull /,�,nill FI•I IInllurnl ,r..t� Iln^ c: cr la!uilhn- .`;1ciwi.i. _.., il.' ai' III ill 1'V[ .I) 1 n11111 V'... .I 1111 ill ..... .1111�)!I:' Icy.' Ilf IIII' If i ll`V furl ,IO!'tl :. ;pit ill( III I1 'CI'. �I '',:I li illll l: ll II rlll �lli Ii[.. IIPV, Hitt lll':`I iIv.. IIII I;IIIIII I' 'hill „(luu (.. i Nili ll'l - r III II7-l'1'Jt 11 inl' /I 11111 ul(I I III _ Hill • ,Ill. I i II IlV r 11 ullnlr:u} I.ttnl I'r rnl!I. [full!IIi .,il�-,%% Il a (iI (1 iNVI ill ,uu:Atl;�l I ,rl«,'.fr��,1111n1!IIi hl' i CBS4-S-13. CONTRACT TO BUY AND SELL REAL ESTATE (LAND) Page 15 of 17 dotloop signature verification: 774 775 776 777 778 779 780 781 782 783 784 785 786 787 788 31. ATTACHMENTS. 31.1. The following attachments are a part of this Contract: 31.2. The following disclosure forms are attached but are not a part of this Contract: N/A SIGNATURES Buyer's Name: Leonel Ornelas e.caw.oliVik�Ib dotloop verified 07/ll/1512:41PM EDT 2KGM-OPBM VSXB-ARW'. Buyer's Signature Address: Phone No.: Fax No.: Electronic Address: hitInkl sss23(ogmail. corn Date 13291 N 11ARIACK ROAD BENNB3`r, CO 80102 720-2(12-:627 Dr 720-626-1313 Buyer's Name: Buyer's Signature Address: Phone No.: Fax No.: Electronic Address: Dale 789 [NOTE: If this offer is being countered or rejected, do not sign this document. Refer to § 32] Seller's Name: Seller's Signature Address: V tinny.-uhi I.nn (- ;! all, ICiu•!:. (-(I I',UI()'1 Phone No.: Fax No.: Electronic Address: 790 Date Seller's Name: Seller's Signature Address: Phone No.: Fax No.: Electronic Address: 791 32. COUNTER; REJECTION. This offer is El Countered ® Rejected. 792 Initials only of party (Buyer or Seller) who countered or rejected offer 793 Date 1806 N. Sungold Lane Castle Rock, CO 80.109 END OF CONTRACT TO BUY AND SELL REAL ESTATE CBS4-8-13. CONTRACT TO BUY AND SELL REAL ESTATE (LAND) Page 16 of 17 dotloop signature verification: 33. BROKER'S ACKNOWLEDGMENTS AND COMPENSATION DISCLOSURE. (To be completed by Broker working with Buyer) Broker 0 Does ® Does Not acknowledge receipt of Earnest Money deposit and, while not a party to the Contract, agrees to cooperate upon request with any mediation concluded under § 23. 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. Broker is working with Buyer as a ® Buyer's Agent ❑ Seller's Agent ❑ Transaction -Broker in this transaction. ❑ This is a Change of Status. Brokerage Firm's compensation or commission is to be paid by ® Listing Brokerage Firm ❑ Buyer D Other Brokerage Firm's Name: Keller Williams Northern Colorado 794 Broker's Name: Address: Phone No.: Fax No.: Electronic Address: Kim D Butler dmioopeenned 07/22/1512..37PM EDT 4NO-9MAJAABQ P4G3 Broker's Signature Date Ron Collins. CO 80525 970-5411-14'25 i<imbutler(^'kcv.aun 34. BROKER'S ACKNOWLEDGMENTS AND COMPENSATION DISCLOSURE. (To be completed by Broker working with Seller) Broker ❑ Does ® Does Not acknowledge receipt of Earnest Money deposit and, while not a party to the Contract, agrees to cooperate upon request with any mediation concluded under § 23. 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 Broker is working with Seller as a ❑ Seller's Agent ❑ Buyer's Agent 2 Transaction -Broker in this transaction. 0 This is a Change of Status. Brokerage Firm's compensation or commission is to be paid by ® Seller El Buyer ❑ Other Brokerage Film's Name: Broker's Name: Address: Phone No.: Fax No.: Electronic Address: llostcder Broker's Signature Date 3n:i0 67th Ave Suite 200 r h CO 80634 363 883-7080 RWIllee.a,iaras noel CBS4-8-13. CONTRACT TO BUY AND SELL REAL ESTATE (LAND) Page 17 or 17 DocuSign Envelope ID: 0D719ED9-2F754089-BB05-D01C055F8C61 774 775 776 778 779 780 7til 7s, 7st 7,84 71,5 71,6 787 75s 31. ATTACIII)1ENTS. 31.1. l lie fullowin v attachment are earl of this Contract 31.2. 7hc following disclosure loans arc attached but are not a pail of this Contract: N/A 13uccr's Name: Leonel Ornelas _ Buyer's Signature Date Address. Phone Ni,. Fax No.: l leclronic Address. 13291 N II.ARRACK KOAI SICNA'I'URES I arhi kisss23Cr'gma ifcmn Buser's Name: Buyer's Signature Address: Thane No.: Ies No.: Pledronie Address: Date 789 INOTE: If this offer is helug countered or rejected, do not sign thls document. Refer to § 321 Seller's Name: Cervantes Srllcl'S Si_.mnuO' Addles, Plume No.: Fax No.: Electronic Address: I hue I::0T N. Sungold Lane astle Rock. CO 80109 Seller's Name: Nam L Seller's Signature Addre:s: Phone No,: Fa\ No,. Electronic Address: 79(1 791 32. ('OM NTER; Rb:.IEC PION. This Min is th(buntered Re DS 792 Initials only of party (Rover or Seller) sr hu ctµtnteit•d or rejected oil %`)1 END OE CONTRAC'1"FO IIUY AND Slil.l• Al. I•:S7'ATE C Date tRnit N. Somd,nhl I ;one :idle knit.. t t l pt11o9 ('1154 -II -U. CONTRA("' 1(1 tt( \ AND SEa.I, RI. AI. I'S1 A It (LAND) rage 16 of 17 dotloop signature verification: Mal .-1( ;PROB,,. 2 .3 11 12 13 NOTE: If the table is omitted, or if any item is left blank or is marked in the "No Change" column, it means 14 no change to the corresponding provision of the Contract. If any item Is marked in the "Deleted" column, it means that the corresponding provision of the Contract to which reference is made is deleted. 15 15 2. §3. DATES AND DEADLINES. [NOTE: This table may be omitted if inapplicable] 17 13No Item Reference Event Date or Deadline Change Deleted No. 1 § 4.3 Alternative Earnest Money Deadline no change Title 2 § 8.1 Record Title Deadline no change 3 § 8.2 Record Title Objection Deadline no change 4 § 8.3 Off -Record Title Deadline no change 5 68.3 Off -Record Title Objection Deadline no change 6 § 8.4 Title Resolution Deadline no change 7 § 8.6 Right of First Refusal Deadline no change Owners' Association 8 §7.3 Association Documents Deadline no change 9 §7.4 Association Documents Objection Deadline no change Seller's Property Disclosure 10 § 10.1 Sellers Property Disclosure Deadline no change Loan and Credit 11 § 5.1 Loan Application Deadline no change El 12 §5.2 Loan Objection Deadline no change 13 § 5.3 Buyer's Credit Information Deadline no change El 14 § 5.3 Disapproval of Buyer's Credit Information Deadline no change El 15 § 5.4 Existing Loan Documents Deadline no change El 16 § 5.4 Existing Loan Documents Objection Deadline no change El 17 §5.4 Loan Transfer Approval Deadline no change El 18 § 4.7 Seller or Private Financing Deadline no change El AGPROfessionals Ryan L. Hostetler Ph: 970 535 9318 Fax: 970 535 9854 he printed portions of this form, except differentiated additions, have been approved by the Colorado Real Estate Commission (CP4O-8-13) (Mandatory 1-14) THIS FORM HAS IMPORTANT LEGAL CONSEQUENCES AND THE PARTIES SHOULD CONSULT LEGAL AND TAX OR OTHER COUNSEL BEFORE SIGNING. COUNTERPROPOSAL Date: 7/22/2015 1. This Counterproposal supersedes and replaces any previous counterproposal. This Counterproposal amends the proposed contract dated 7/21/2015 (Contract), between Gerardo Cervantes and Nancy Garcia (Seller), and Leonel Ornelas (Buyer), relating to the sale and purchase of the following legally described real estate in the County of n/a, Colorado: PT NE4 24-1-63 LOT A REC EXEMPT RE -3588 (1.66R) known as No. CO (Property). Appraisal 19 § 6.2 Appraisal Deadline 20 § 6.2 Appraisal Objection Deadline Survey 21 § 9.1 Current Survey Deadline 22 §9.2 Current Survey Objection Deadline no change no change no change no change CP 40-8-13. COUNTERPROPOSAL Page 1 of 3 Seller(s) Initials: CTMeContracts corn - ©2014 CTM Software Corp. mmn s ID 44AM ED' dotloop signature verification 23 § 9.3 Current Survey Resolution Deadline no change Inspection and Due Diligence 24 § 10.2 Inspection Objection Deadline no change 25 § 10.3 Inspection Resolution Deadline no change 26 § 10.5 Property Insurance Objection Deadline no change 27 § 10.6 Due Diligence Documents Delivery Deadline no change 28 § 10.6 Due Diligence Documents Objection Deadline no change 29 § 10.6 Due Diligence Documents Resolution Deadline no change 30 § 10.6 Environmental Inspection Objection Deadline CBS2, 3, 4 no change 31 § 10.6 ADA Evaluation Objection Deadline CBS2, 3, 4 no change 32 § 10.7 Conditional Sale Deadline no change 33 § 11.1 Tenant Estoppel Statements Deadline CBS2, 3, 4 no change 34 § 11.2 Tenant Estoppel Statements Objection Deadline CB52,3,4 no change Closing and Possession On or Before 35 § 12.3 Closing Date November 12, 2015 36 § 17 Possession Date no change 37 § 17 Possession Time no change 38 n/a n/a no change 39 n/a n/a no change r71 0 0 0 19 20 3. §4. PURCHASE PRICE AND TERMS. [Omitted as inapplicable] 21 22 4. ATTACHMENTS. The following are a part of this Counterproposal: 23 no change 24 Note: The following disclosure forms are attached but are not a part of this Counterproposal: 25 no change 26 / 5. OTHER CHANGES. 28 no change 29 6. ACCEPTANCE DEADLINE. This Counterproposal expires unless accepted in writing by Seller and Buyer as evidenced by their signatures below and the offering party to this document receives notice 30 of such acceptance on or before July 26, 2015 5:00 PM Date Time 31 If accepted, the Contract, as amended by this Counterproposal, will become a contract between Seller and Buyer. 2 All other terms and conditions of the Contract remain the same. 33 34 Seller: Gerardo Cervantes Address: 35 36 Seller: Nancy Garcia Address: 3/ Date: 7/24/2015 Date: 7/24/2015 CP 40-8-13. COUNTERPROPOSAL Page 2 of 3 Seller(s) Initials: CTMeContracts.com - O2014 CTM Software Corp. 10 44A EDT dotloop signature verification: dotloop verified 07/22/1510:44AM EDT X0UY-2N50 YPVN TFEK Date: 38 39 40 41 Buyer: Leonel Ornelas Address: Buyer: Date: Address: Note: When this Counterproposal form is used, the Contract is not to be signed by the party initiating this Counterproposal. Brokers must complete and sign the Brokers Acknowledgments and Compensation Disclosure portion of the Contract. CP40-8-13. COUNTERPROPOSAL CP 40-8-13. COUNTERPROPOSAL Page 3 of 3 Seller(s) Initials: CTMeContracts.com - O2014 CTM Software Corp. Hello