By:

Colorado County Record SystemsMark Lowderman

Treasurer, El Paso County

20190705 32425Fee for issuing this certificate $10.00

Issued to: elpasoco\CALCocrs01

05th day of JULY A.D. 2019I hereonto set my hand and seal thisIN WITNESS WHEREOF,

$ 0.00JULY 31st, 2019 :Amount due valid through

Tax District: Tax Rate Tax Amount

Information regarding special taxing districts and the boundaries of such districts may be on file or deposit with the Board of County Commissioners, the Clerk to the Board, or the County Assessor.

*Temporary tax rate reduction/tax credit

SCF

EL PASO COUNTY 0.007738 2.17EPC ROAD & BRIDGE (UNSHARED) 0.000330 0.09EL PASO COUNTY SCHOOL NO 49 - GEN 0.043044 12.05* PIKES PEAK LIBRARY 0.004000 1.12FALCON FIRE PROTECTION 0.014886 4.17UPPER BLK SQUIRREL CRK GROUND WATER 0.001082 0.30

0.071080TOTAL 19.90

0.00Balance due on 2018 taxes:

170715/55077987

Property Type:Property Location:

Property Description: TRACT IN SEC 7-13-64 DESC AS FOLS: COM AT NW COR OF LOT 13 ARROWHEAD ESTATES FIL NO 1; TH S 00<46'12" W 197.28 FT FOR POB; TH CONT S 00<46'12" W 988.14 FT, S >> SEE NEXT PAGE for SUPP. INFORMATION <<

Real Estate07-13-64

CERTIFICATE AD VALOREM PROPERTY TAXES COUNTY OF EL PASO, STATE OF COLORADO

I, the undersigned, County Treasurer, certify that there are no unpaid property taxes or other assessments collectable by my office on the following described property, except as disclosed this date. This does not include assessments not of record this date.

Schedule (Account) No: TAXES PAYABLEOwner Per Tax Record:

Assessed Value

TOTAL $

Land $ 280Improvement $ 0

280

43072-00-015 2018 2019

Alerts:

FALCON FIELD LLC

Supplemental Information

Schedule (Account) No: Date of Issue:43072-00-015 05th day of JULY A.D. 2019

Full Property Description:

86<00'46" W 327.52 FT, S 00<25'05" W 68.17 FT, N 89<59'43" W 430.45 FT, N 00<14'15" E 1475.39 FT TO SELY R/W LN OF US HWY 24, TH ALG SD SWLY R/W LN N 50<05'41" E 125.34 FT, TH ALG ARC OF CUR TO L SD CUR BEING CONCAVE TO NW HAVING A RAD OF 5800.00 FT AN ARC DIST OF 178.20 FT A C/A OF 01<45'37" WHICH CHORD BEARS N 49<13'05" E 178.19 FT, TH S 41<58'50" E 798.01 FT TO POB

Alerts:

Owners:

By:

Colorado County Record SystemsMark Lowderman

Treasurer, El Paso County

20190705 32514Fee for issuing this certificate $10.00

Issued to: elpasoco\CALCocrs01

05th day of JULY A.D. 2019I hereonto set my hand and seal thisIN WITNESS WHEREOF,

$ 0.00JULY 31st, 2019 :Amount due valid through

Tax District: Tax Rate Tax Amount

Information regarding special taxing districts and the boundaries of such districts may be on file or deposit with the Board of County Commissioners, the Clerk to the Board, or the County Assessor.

*Temporary tax rate reduction/tax credit

SCF

EL PASO COUNTY 0.007738 133.48EPC ROAD & BRIDGE (UNSHARED) 0.000330 5.69EL PASO COUNTY SCHOOL NO 49 - GEN 0.043044 742.51* PIKES PEAK LIBRARY 0.004000 69.00FALCON FIRE PROTECTION 0.014886 256.78UPPER BLK SQUIRREL CRK GROUND WATER 0.001082 18.66

0.071080TOTAL 1226.12

0.00Balance due on 2018 taxes:

170717/55077987

Property Type:Property Location:

Property Description: TRACT IN SEC 7-13-64 DESC AS FOLS: BEG AT NW COR OF LOT 13 ARROWHEAD ESTATES FIL NO 1; TH S 00<46'12" W 197.28 FT ALG WLY LN OF SD LOT 13 TO A PT, N 41<58'50" >> SEE NEXT PAGE for SUPP. INFORMATION <<

Real Estate12445 RIO LN

CERTIFICATE AD VALOREM PROPERTY TAXES COUNTY OF EL PASO, STATE OF COLORADO

I, the undersigned, County Treasurer, certify that there are no unpaid property taxes or other assessments collectable by my office on the following described property, except as disclosed this date. This does not include assessments not of record this date.

Schedule (Account) No: TAXES PAYABLEOwner Per Tax Record:

Assessed Value

TOTAL $

Land $ 740Improvement $ 16510

17250

43070-00-001 2018 2019

Alerts:

FALCON FIELD LLC

Supplemental Information

Schedule (Account) No: Date of Issue:43070-00-001 05th day of JULY A.D. 2019

Full Property Description:

W 798.01 FT TO SELY R/W LN OF US HWY 24, TH ALG SD SELY R/W LN ALG ARC OF CUR TO L SD CUR BEING CONCAVE TO NW HAVING A RAD OF 5800.00 FT AN ARC DIST OF 193.53 FT A C/A OF 01<54'42" WHICH CHORD BEARS N 47<22'56" E 193.52 FT, N 46<25'11" E 760.04 FT TO INTSEC SD SELY R/W LN OF US HWY 24 & WLY R/W LN OF RIO LN, TH SLY ALG SD R/W OF RIO LN S 22<22'28" E 219.81 FT, S 89<10'21" E 1071.23 FT TO NW COR OF LOT 14 OF FALCON RANCH ESTATES SUB, S 00<10'51" E 705.04 FT ALG WLY LN OF SD LOT 14 & LOT 13 FALCON RANCH ESTATES SUB TO THE MOST NLY NW COR OF LOT 10 ARROWHEAD ESTATES FIL NO 1, TH CONT S 00<10'51" E 151.74 FT, TH N 88<55'44" W 1314.29 FT TO POB

Alerts:

Owners:

Land Title Guarantee CompanyCustomer Distribution

PREVENT FRAUD - Please remember to call a member of our closing team wheninitiating a wire transfer or providing wiring instructions.

Order Number: SR55077987 Date: 07/11/2019

Property Address: 12445 RIO LANE AND VACANT LAND, COLORADO SPRINGS, CO 80831

PLEASE CONTACT YOUR CLOSER OR CLOSER'S ASSISTANT FOR WIRE TRANSFER INSTRUCTIONS

For Closing Assistance For Title AssistanceLand Title El Paso County Title Team102 S TEJON #760COLORADO SPRINGS, CO 80903(719) 634-4821 (Work)(719) 634-3190 (Work Fax)csresponse@ltgc.com

Buyer/BorrowerA BUYER TO BE DETERMINEDDelivered via: Delivered by Realtor

Agent for SellerPJ ANDERSON31 N TEJON #500COLORADO SPRINGS, CO 80903Delivered via: US Postal Service

Seller/OwnerFALCON FIELD LLC, A COLORADO LIMITED LIABILITYCOMPANYDelivered via: Delivered by Realtor

Land Title Guarantee CompanyEstimate of Title Fees

Order Number: SR55077987 Date: 07/11/2019

Property Address: 12445 RIO LANE AND VACANT LAND, COLORADO SPRINGS, CO80831

Parties: A BUYER TO BE DETERMINED

FALCON FIELD LLC, A COLORADO LIMITED LIABILITY COMPANY

Visit Land Title's Website at www.ltgc.com for directions to any of our offices.

Estimate of Title insurance Fees

"TBD" Commitment $269.00

Total $269.00

If Land Title Guarantee Company will be closing this transaction, the fees listed above will be collected atclosing.

Thank you for your order!

Note: The documents linked in this commitment should be reviewed carefully. These documents, such as covenantsconditions and restrictions, may affect the title, ownership and use of the property. You may wish to engage legalassistance in order to fully understand and be aware of the implications of the effect of these documents on yourproperty.

Chain of Title Documents:

El Paso county recorded 07/09/2018 under reception no.218078495

El Paso county recorded 07/09/2018 under reception no.218078494

El Paso county recorded 05/22/2018 under reception no.218057888

El Paso county recorded 05/22/2018 under reception no.218057887

El Paso county recorded 07/02/2013 under reception no.213085628

El Paso county recorded 02/23/2006 under reception no.206027185

Property Address:

12445 RIO LANE AND VACANT LAND, COLORADO SPRINGS, CO 80831

1. Effective Date:

06/29/2019 at 5:00 P.M.

2. Policy to be Issued and Proposed Insured:

"TBD" CommitmentProposed Insured:A BUYER TO BE DETERMINED

$5,000.00

3. The estate or interest in the land described or referred to in this Commitment and covered herein is:

A Fee Simple

4. Title to the estate or interest covered herein is at the effective date hereof vested in:

FALCON FIELD LLC, A COLORADO LIMITED LIABILITY COMPANY

5. The Land referred to in this Commitment is described as follows:

PARCEL ONE:

A PARCEL OF LAND SITUATE IN SECTION 7, TOWNSHIP 13 SOUTH, RANGE 64 WEST OF THE SIXTHP.M., EL PASO COUNTY, COLORADO, BEING A PORTION OF THAT TRACT OF LAND DESCRIBED UNDERRECEPTION NO. 202131510 OF THE RECORDS OF SAID COUNTY, SAID PARCEL OF LAND BEING MOREPARTICULARLY DESCRIBED AS FOLLOWS:

(BEARINGS REFERRED TO HEREIN ARE BASED ON THE NORTH LINE OF THE NORTHEAST QUARTEROF SAID SECTION 7, SAID LINE BEING MONUMENTED AT THE WEST END BY A 3" ALUMINUM CAPSTAMPED WITH COLORADO REGISTERED LAND SURVEYOR NO. 17664, AND MONUMENTED AT THEEAST END BY A 2" ALUMINUM CAP STAMPED WITH COLORADO REGISTERED LAND SURVEYOR NO.17665, SAID LINE ASSUMED TO BEAR N 89 DEGREES 08 MINUTES 49 SECONDS W.)

COMMENCING AT THE NORTHWEST CORNER OF "ARROWHEAD ESTATES FILING NO. 1" ASDESCRIBED IN PLAT BOOK Y3 AT PAGE 39 OF THE RECORDS OF SAID COUNTY, SAID CORNER ALSOBEING THE NORTHWEST CORNER OF LOT 13, OF SAID "ARROWHEAD ESTATES FILING NO. 1"; (THEFOLLOWING FOUR (4) COURSES ARE ALONG THE WESTERLY AND NORTHERLY BOUNDARY LINES OFSAID "ARROWHEAD ESTATES FILING NO. 1".)

1) THENCE S 00 DEGREES 46 MINUTES 12 SECONDS W, 197.28 FEET TO THE POINT OF BEGINNING OFTHE PARCEL OF LAND HEREIN DESCRIBED;

2) THENCE CONTINUE S 00 DEGREES 46 MINUTES 12 SECONDS W, 988.14 FEET;

3) THENCE S 86 DEGREES 00 MINUTES 46 SECONDS W, 327.52 FEET (327.53 FEET RECORDED);

4) THENCE S 00 DEGREES 25 MINUTES 05 SECONDS W, 68.17 FEET (67.53 FEET RECORDED) TO THENORTHERLY LINE OF THAT TRACT OF LAND DESCRIBED UNDER RECEPTION NO. 202090702;

THENCE N 89 DEGREES 59 MINUTES 43 SECONDS W, 430.45 FEET (430.08 FEET RECORDED) ALONG

ALTA COMMITMENT

Old Republic National Title Insurance Company

Schedule A

Order Number:SR55077987

SAID NORTHERLY LINE TO THE SOUTHWESTERLY CORNER OF VERBURG SUBDIVISION WAIVER, ATRACT OF LAND AS DESCRIBED UNDER RECEPTION NO. 201000639 OF SAID RECORDS;

THENCE N 00 DEGREES 14 MINUTES 15 SECONDS E, 1475.39 FEET (1475.79 FEET RECORDED) ALONGTHE EASTERLY LINE OF SAID "VERBURG SUBDIVISION WAIVER" TO THE SOUTHEASTERLY RIGHT OFWAY LINE OF U.S. HIGHWAY NO. 24 AS DESCRIBED IN BOOK 840 AT PAGE 258 OF SAID RECORDS; (THEFOLLOWING TWO (2) COURSES ARE ALONG SAID SOUTHWESTERLY RIGHT OF WAY LINE;

1) THENCE N 50 DEGREES 05 MINUTES 41 SECONDS E, 125.34 FEET (125.38 FEET RECORDED);

2) THENCE ALONG THE ARC OF A CURVE TO THE LEFT, SAID CURVE BEING CONCAVE TO THENORTHWEST, HAVING A CHORD BEARING AND DISTANCE OF N 49 DEGREES 13 MINUTES 05SECONDS E, 178.19 FEET, A CENTRAL ANGLE OF 1 DEGREES 45 MINUTES 37 SECONDS, A RADIUS OF5800.00 FEET, FOR AN ARC DISTANCE OF 178.20 FEET;

THENCE S 41 DEGREES 58 MINUTES 50 SECONDS E, 798.01 FEET TO THE POINT OF BEGINNING.

PARCEL TWO:

A PARCEL OF LAND SITUATE IN SECTION 7, TOWNSHIP 13 SOUTH, RANGE 64 WEST OF THE SIXTHP.M., EL PASO COUNTY COLORADO, BEING A PORTION OF THAT TRACT OF LAND DESCRIBED UNDERRECEPTION NO. 202131510 OF THE RECORDS OF SAID COUNTY, SAID PARCEL OF LAND BEING MOREPARTICULARLY DESCRIBED AS FOLLOWS:

(BEARINGS REFERRED TO HEREIN ARE BASED ON THE NORTH LINES OF THE NORTHEAST QUARTEROF SAID SECTION 7, SAID LINE BEING MONUMENTED AT THE WEST END BY A 3" ALUMINUM CAPSTAMPED WITH COLORADO REGISTERED LAND SURVEYOR NO. 17664, AND MONUMENTED AT THEEAST END BY A 2" ALUMINUM CAP STAMPED WITH COLORADO REGISTERED LAND SURVEYOR NO.17665, SAID LINE ASSUMED TO BEAR N 89 DEGREES 08 MINUTES 49 SECONDS W.)

BEGINNING AT THE NORTHWEST CORNER OF "ARROWHEAD ESTATES FILING NO. 1" AS DESCRIBED INPLAT BOOK Y-3 AT PAGE 39 OF THE RECORDS OF SAID COUNTY, SAID CORNER ALSO BEING THENORTHWEST CORNER OF LOT 13, OF SAID "ARROWHEAD ESTATES FILING NO. 1";

THENCE S 00 DEGREES 46 MINUTES 12 SECONDS W, 197.28 FEET ALONG THE WESTERLY LINE OFSAID LOT 13 TO A POINT THEREON;

THENCE N 41 DEGREES 58 MINUTES 50 SECONDS W, 798.01 FEET TO THE SOUTHEASTERLY RIGHT OFWAY LINE OF U.S. HIGHWAY NO. 24 AS DESCRIBED IN BOOK 840 AT PAGE 258 OF SAID RECORDS; (THEFOLLOWING TWO (2) COURSES ARE ALONG SAID SOUTHEASTERLY RIGHT OF WAY LINE.)

1.) THENCE ALONG THE ARC OF A CURVE TO THE LEFT, SAID CURVE BEING CONCAVE TO THENORTHWEST, HAVING A CHORD BEARING AND DISTANCE OF N 47 DEGREES 22 MINUTES 56SECONDS E, 193.52 FEET, A CENTRAL ANGLE OF 1 DEGREE 54 MINUTES 42 SECONDS, A RADIUS OF5800.00 FEET, FOR AN ARC DISTANCE OF 193.53 FEET;

2.) THENCE NORTH 46 DEGREES 25 MINUTES 11 SECONDS E, 760. 04 FEET (760.22 FEET RECORDED)TO THE INTERSECTION OF SAID SOUTHEASTERLY RIGHT OF WAY LINE WITH THE WESTERLY RIGHTOF WAY LINE OF RIO ROAD, A 60 FOOT RIGHT OF WAY SHOWN ON "FALCON RANCH ESTATESSUBDIVISION" AS RECORDED IN PLAT BOOK T-2 AT PAGE 47 OF SAID RECORDS; (THE FOLLOWING

ALTA COMMITMENT

Old Republic National Title Insurance Company

Schedule A

Order Number:SR55077987

Copyright 2006-2019 American Land Title Association. All rights reserved.

The use of this Form is restricted to ALTA licensees and ALTA members in good standingas of the date of use. All other uses are prohibited. Reprinted under license from theAmerican Land Title Association.

TWO (2) COURSES ARE ALONG SAID WESTERLY RIGHT OF WAY LINE AND THE SOUTHERLY RIGHT OFWAY LINE OF RIO ROAD.)

1.) THENCE S 22 DEGREES 22 MINUTES 28 SECONDS E, 219.81 FEET (219.73 FEET RECORDED);

2.) THENCE S 89 DEGREES 10 MINUTES 21 SECONDS E, 1071.23 FEET (1071.46 FEET RECORDED) TOTHE NORTHWEST CORNER OF LOT 14 OF SAID "FALCON RANCH ESTATES SUBDIVISION";

THENCE S 00 DEGREES 10 MINUTES 51 SECONDS E, 705.04 FEET ALONG THE WESTERLY LINES OFSAID LOT 14 AND 13 OF SAID "FALCON RANCH ESTATES SUBDIVISON" TO THE MOST NORTHERLYNORTHWEST CORNER OF SAID "ARROWHEAD ESTATES FILING NO. 1", SAID CORNER ALSO BEING THEMOST NORTHERLY NORTHWEST CORNER OF LOT 10 OF SAID "ARROWHEAD ESTATES FILING NO. 1";(THE FOLLOWING TWO (2) COURSES ARE ALONG THE WESTERLY AND NORTHERLY LINES OF SAID"ARROWHEAD ESTATE FILING NO. 1"0.

1.) THENCE CONTINUE S 00 DEGREES 10 MINUTES 51 SECONDS E, 151.74 FEET (152.43 FEETRECORDED);

2.) THENCE N 88 DEGREES 55 MINUTES 44 SECONDS W, 1314.29 FEET (1314.59 FEET RECORDED) TOTHE POINT OF BEGINNING.

ALTA COMMITMENT

Old Republic National Title Insurance Company

Schedule A

Order Number:SR55077987

ALTA COMMITMENT

Old Republic National Title Insurance Company

Schedule B, Part I

(Requirements)

Order Number: SR55077987

All of the following Requirements must be met:

This proposed Insured must notify the Company in writing of the name of any party not referred to in thisCommitment who will obtain an interest in the Land or who will make a loan on the Land. The Companymay then make additional Requirements or Exceptions.

Pay the agreed amount for the estate or interest to be insured.

Pay the premiums, fees, and charges for the Policy to the Company.

Documents satisfactory to the Company that convey the Title or create the Mortgage to be insured, orboth, must be properly authorized, executed, delivered, and recorded in the Public Records.

1. RELEASE OF DEED OF TRUST DATED JULY 01, 2018 FROM FALCON FIELD LLC, A COLORADO LIMITEDLIABILITY COMPANY TO THE PUBLIC TRUSTEE OF EL PASO COUNTY FOR THE USE OF PERPETUITYLLC, A COLORADO LIMITED LIABILITY COMPANY TO SECURE THE SUM OF $520,000.00 RECORDEDSEPTEMBER 12, 2018, UNDER RECEPTION NO. 218106381.

(AFFECTS PARCEL ONE)

2. RELEASE OF DEED OF TRUST DATED JULY 01, 2018 FROM FALCON FIELD LLC, A COLORADO LIMITEDLIABILITY COMPANY TO THE PUBLIC TRUSTEE OF EL PASO COUNTY FOR THE USE OF PERPETUITYLLC, A COLORADO LIMITED LIABILITY COMPANY TO SECURE THE SUM OF $780,000.00 RECORDEDSEPTEMBER 12, 2018, UNDER RECEPTION NO. 218106382.

(AFFECTS PARCEL TWO)

3. WRITTEN INSTRUCTIONS AUTHORIZING LAND TITLE TO PREPARE A STATEMENT OF AUTHORITY FORFALCON FIELD LLC, A COLORADO LIMITED LIABILITY COMPANY, STATING UNDER WHICH LAWS THEENTITY WAS CREATED, THE MAILING ADDRESS OF THE ENTITY, AND THE NAME AND POSITION OFTHE PERSON(S) AUTHORIZED TO EXECUTE INSTRUMENTS CONVEYING, ENCUMBERING, OROTHERWISE AFFECTING TITLE TO REAL PROPERTY ON BEHALF OF THE ENTITY; OR, A DULYEXECUTED AND ACKNOWLEDGED STATEMENT OF AUTHORITY SETTING FORTH THE NAME OFFALCON FIELD LLC, A COLORADO LIMITED LIABILITY COMPANY AS A A COLORADO LIMITED LIABILITYCOMPANY.

NOTE: ANY STATEMENT OF AUTHORITY MUST BE IN COMPLIANCE WITH THE PROVISIONS OF SECTION38-30-172, C.R.S. AND BE RECORDED WITH THE CLERK AND RECORDER.

4. WARRANTY DEED FROM FALCON FIELD LLC, A COLORADO LIMITED LIABILITY COMPANY TO A BUYERTO BE DETERMINED CONVEYING SUBJECT PROPERTY.

NOTE: ADDITIONAL REQUIREMENTS OR EXCEPTIONS MAY BE NECESSARY WHEN THE BUYERSNAMES ARE ADDED TO THIS COMMITMENT. COVERAGES AND/OR CHARGES REFLECTED HEREIN, IFANY, ARE SUBJECT TO CHANGE UPON RECEIPT OF THE CONTRACT TO BUY AND SELL REAL ESTATEAND ANY AMENDMENTS THERETO.

NOTE: THE COMMITMENT DOES NOT REFLECT THE STATUS OF TITLE TO WATER RIGHTS ORREPRESENTATION OF SAID RIGHTS.

This commitment does not republish any covenants, condition, restriction, or limitation contained in anydocument referred to in this commitment to the extent that the specific covenant, conditions, restriction,or limitation violates state or federal law based on race, color, religion, sex, sexual orientation, genderidentity, handicap, familial status, or national origin.

1. Any facts, rights, interests, or claims thereof, not shown by the Public Records but that could beascertained by an inspection of the Land or that may be asserted by persons in possession of the Land.

2. Easements, liens or encumbrances, or claims thereof, not shown by the Public Records.

3. Any encroachment, encumbrance, violation, variation, or adverse circumstance affecting the Title thatwould be disclosed by an accurate and complete land survey of the Land and not shown by the PublicRecords.

4. Any lien, or right to a lien, for services, labor or material heretofore or hereafter furnished, imposed bylaw and not shown by the Public Records.

5. Defects, liens, encumbrances, adverse claims or other matters, if any, created, first appearing in thepublic records or attaching subsequent to the effective date hereof but prior to the date of the proposedinsured acquires of record for value the estate or interest or mortgage thereon covered by thisCommitment.

6. (a) Taxes or assessments that are not shown as existing liens by the records of any taxing authority thatlevies taxes or assessments on real property or by the Public Records; (b) proceedings by a publicagency that may result in taxes or assessments, or notices of such proceedings, whether or not shownby the records of such agency or by the Public Records.

7. (a) Unpatented mining claims; (b) reservations or exceptions in patents or in Acts authorizing theissuance thereof; (c) water rights, claims or title to water.

8. RIGHT OF WAY EASEMENT AS GRANTED TO THE MOUNTAIN STATES TELEPHONE AND TELEGRAPHCOMPANY, A COLORADO CORPORATION IN INSTRUMENT RECORDED FEBRUARY 04, 1971, IN BOOK2388 AT PAGE 211.

9. RIGHT OF WAY EASEMENT AS GRANTED TO THE MOUNTAIN STATES TELEPHONE AND TELEGRAPHCOMPANY, A COLORADO CORPORATION IN INSTRUMENT RECORDED FEBRUARY 04, 1971, IN BOOK2388 AT PAGE 212.

10. RIGHT OF WAY EASEMENT AS GRANTED TO THE MOUNTAIN VIEW ELECTRIC ASSOCIATION,INCORPORATED IN INSTRUMENT RECORDED APRIL 24, 1972, IN BOOK 2483 AT PAGE 612.

11. RIGHT OF WAY EASEMENT AS GRANTED TO THE MOUNTAIN VIEW ELECTRIC ASSOCIATION,INCORPORATED IN INSTRUMENT RECORDED NOVEMBER 15, 1972, IN BOOK 2539 AT PAGE 238.

12. THE EFFECT OF INCLUSION OF THE SUBJECT PROPERTY IN THE UPPER BLACK SQUIRREL CREEKGROUND WATER MANAGEMENT DISTRICT, AS EVIDENCED BY INSTRUMENT RECORDED DECEMBER11, 1979, IN BOOK 3260 AT PAGE 701.

ALTA COMMITMENT

Old Republic National Title Insurance Company

Schedule B, Part II

(Exceptions)

Order Number: SR55077987

13. THE EFFECT OF INCLUSION OF THE SUBJECT PROPERTY IN THE FALCON FIRE PROTECTIONDISTRICT, AS EVIDENCED BY INSTRUMENTS RECORDED DECEMBER 02, 1980, IN BOOK 3380 AT PAGE670 AND DECEMBER 02, 1980 IN BOOK 3380 AT PAGE 675 AND FEBRUARY 17 1981 IN BOOK 3404 ATPAGE 582 AND FEBRUARY 17 1981 IN BOOK 3404 AT PAGE 587.

14. THE EFFECT OF NOTICE CONCERNING UNDERGROUND FACILITIES OF THE EL PASO COUNTYTELEPHONE COMPANY RECORDED JANUARY 29, 1982 IN BOOK 3527 AT PAGE 176.

15. THE EFFECT OF NOTICE CONCERNING UNDERGROUND FACILITIES OF THE MOUNTAIN VIEWELECTRIC ASSOCIATION, INC. RECORDED MAY 9, 1983 IN BOOK 3718 AT PAGE 812.

16. THE EFFECT OF NOTICE PURSUANT TO COLORADO GOVERNMENTAL IMMUNITY ACT C.R.S. 24-10-1099, RECORDED OCTOBER 20, 1999, UNDER RECEPTION NO. 99162928.

17. TERMS, CONDITIONS AND PROVISIONS OF ORDER OF INCLUSION RECORDED APRIL 29, 2019 ATRECEPTION NO. 219044856.

ALTA COMMITMENT

Old Republic National Title Insurance Company

Schedule B, Part II

(Exceptions)

Order Number: SR55077987

LAND TITLE GUARANTEE COMPANYDISCLOSURE STATEMENTS

Note: Pursuant to CRS 10-11-122, notice is hereby given that:

Note: Effective September 1, 1997, CRS 30-10-406 requires that all documents received for recording or filing in theclerk and recorder's office shall contain a top margin of at least one inch and a left, right and bottom margin of at leastone half of an inch. The clerk and recorder may refuse to record or file any document that does not conform, except that,the requirement for the top margin shall not apply to documents using forms on which space is provided for recording orfiling information at the top margin of the document.

Note: Colorado Division of Insurance Regulations 8-1-2 requires that "Every title entity shall be responsible for all matterswhich appear of record prior to the time of recording whenever the title entity conducts the closing and is responsible forrecording or filing of legal documents resulting from the transaction which was closed". Provided that Land TitleGuarantee Company conducts the closing of the insured transaction and is responsible for recording the legaldocuments from the transaction, exception number 5 will not appear on the Owner's Title Policy and the Lenders Policywhen issued.

Note: Affirmative mechanic's lien protection for the Owner may be available (typically by deletion of Exception no. 4 ofSchedule B, Section 2 of the Commitment from the Owner's Policy to be issued) upon compliance with the followingconditions:

No coverage will be given under any circumstances for labor or material for which the insured has contracted for oragreed to pay.

The Subject real property may be located in a special taxing district.(A)

A certificate of taxes due listing each taxing jurisdiction will be obtained from the county treasurer of the county inwhich the real property is located or that county treasurer's authorized agent unless the proposed insured provideswritten instructions to the contrary. (for an Owner's Policy of Title Insurance pertaining to a sale of residential realproperty).

(B)

The information regarding special districts and the boundaries of such districts may be obtained from the Board ofCounty Commissioners, the County Clerk and Recorder, or the County Assessor.

(C)

The land described in Schedule A of this commitment must be a single family residence which includes acondominium or townhouse unit.

(A)

No labor or materials have been furnished by mechanics or material-men for purposes of construction on the landdescribed in Schedule A of this Commitment within the past 6 months.

(B)

The Company must receive an appropriate affidavit indemnifying the Company against un-filed mechanic's andmaterial-men's liens.

(C)

The Company must receive payment of the appropriate premium.(D)

If there has been construction, improvements or major repairs undertaken on the property to be purchased withinsix months prior to the Date of Commitment, the requirements to obtain coverage for unrecorded liens will include:disclosure of certain construction information; financial information as to the seller, the builder and or thecontractor; payment of the appropriate premium fully executed Indemnity Agreements satisfactory to the company,and, any additional requirements as may be necessary after an examination of the aforesaid information by theCompany.

(E)

Note: Pursuant to CRS 10-11-123, notice is hereby given:

This notice applies to owner's policy commitments disclosing that a mineral estate has been severed from the surfaceestate, in Schedule B-2.

Note: Pursuant to CRS 10-1-128(6)(a), It is unlawful to knowingly provide false, incomplete, or misleading facts orinformation to an insurance company for the purpose of defrauding or attempting to defraud the company. Penalties mayinclude imprisonment, fines, denial of insurance, and civil damages. Any insurance company or agent of an insurancecompany who knowingly provides false, incomplete, or misleading facts or information to a policyholder or claimant forthe purpose of defrauding or attempting to defraud the policyholder or claimant with regard to a settlement or awardpayable from insurance proceeds shall be reported to the Colorado Division of Insurance within the Department ofRegulatory Agencies.

Note: Pursuant to Colorado Division of Insurance Regulations 8-1-3, notice is hereby given of the availability of a closingprotection letter for the lender, purchaser, lessee or seller in connection with this transaction.

That there is recorded evidence that a mineral estate has been severed, leased, or otherwise conveyed from thesurface estate and that there is substantial likelihood that a third party holds some or all interest in oil, gas, otherminerals, or geothermal energy in the property; and

(A)

That such mineral estate may include the right to enter and use the property without the surface owner'spermission.

(B)

JOINT NOTICE OF PRIVACY POLICY OFLAND TITLE GUARANTEE COMPANY,

LAND TITLE GUARANTEE COMPANY OF SUMMIT COUNTYLAND TITLE INSURANCE CORPORATION AND

OLD REPUBLIC NATIONAL TITLE INSURANCE COMPANY

This Statement is provided to you as a customer of Land Title Guarantee Company as agent for Land Title InsuranceCorporation and Old Republic National Title Insurance Company.

We want you to know that we recognize and respect your privacy expectations and the requirements of federal and stateprivacy laws. Information security is one of our highest priorities. We recognize that maintaining your trust and confidenceis the bedrock of our business. We maintain and regularly review internal and external safeguards against unauthorizedaccess to your non-public personal information ("Personal Information").

In the course of our business, we may collect Personal Information about you from:

applications or other forms we receive from you, including communications sent through TMX, our web-basedtransaction management system;

your transactions with, or from the services being performed by us, our affiliates, or others;

a consumer reporting agency, if such information is provided to us in connection with your transaction;

and

The public records maintained by governmental entities that we obtain either directly from those entities, or fromour affiliates and non-affiliates.

Our policies regarding the protection of the confidentiality and security of your Personal Information are as follows:

We restrict access to all Personal Information about you to those employees who need to know that information inorder to provide products and services to you.

We may share your Personal Information with affiliated contractors or service providers who provide services in thecourse of our business, but only to the extent necessary for these providers to perform their services and toprovide these services to you as may be required by your transaction.

We maintain physical, electronic and procedural safeguards that comply with federal standards to protect yourPersonal Information from unauthorized access or intrusion.

Employees who violate our strict policies and procedures regarding privacy are subject to disciplinary action.

We regularly assess security standards and procedures to protect against unauthorized access to PersonalInformation.

WE DO NOT DISCLOSE ANY PERSONAL INFORMATION ABOUT YOU WITH ANYONE FOR ANY PURPOSE THATIS NOT STATED ABOVE OR PERMITTED BY LAW.

Consistent with applicable privacy laws, there are some situations in which Personal Information may be disclosed. Wemay disclose your Personal Information when you direct or give us permission; when we are required by law to do so, forexample, if we are served a subpoena; or when we suspect fraudulent or criminal activities. We also may disclose yourPersonal Information when otherwise permitted by applicable privacy laws such as, for example, when disclosure isneeded to enforce our rights arising out of any agreement, transaction or relationship with you.

Our policy regarding dispute resolution is as follows: Any controversy or claim arising out of or relating to our privacypolicy, or the breach thereof, shall be settled by arbitration in accordance with the rules of the American ArbitrationAssociation, and judgment upon the award rendered by the arbitrator(s) may be entered in any court having jurisdictionthereof.

Commitment For Title InsuranceIssued by Old Republic National Title Insurance Corporation

NOTICE

IMPORTANT—READ CAREFULLY: THIS COMMITMENT IS AN OFFER TO ISSUE ONE OR MORE TITLE INSURANCEPOLICIES. ALL CLAIMS OR REMEDIES SOUGHT AGAINST THE COMPANY INVOLVING THE CONTENT OF THISCOMMITMENT OR THE POLICY MUST BE BASED SOLELY IN CONTRACT.

THIS COMMITMENT IS NOT AN ABSTRACT OF TITLE, REPORT OF THE CONDITION OF TITLE, LEGAL OPINION, OPINION OF TITLE, OR OTHERREPRESENTATION OF THE STATUS OF TITLE. THE PROCEDURES USED BY THE COMPANY TO DETERMINE INSURABILITY OF THE TITLE, INCLUDINGANY SEARCH AND EXAMINATION, ARE PROPRIETARY TO THE COMPANY, WERE PERFORMED SOLELY FOR THE BENEFIT OF THE COMPANY, ANDCREATE NO EXTRACONTRACTUAL LIABILITY TO ANY PERSON, INCLUDING A PROPOSED INSURED.

THE COMPANY’S OBLIGATION UNDER THIS COMMITMENT IS TO ISSUE A POLICY TO A PROPOSED INSURED IDENTIFIED IN SCHEDULE A INACCORDANCE WITH THE TERMS AND PROVISIONS OF THIS COMMITMENT. THE COMPANY HAS NO LIABILITY OR OBLIGATION INVOLVING THECONTENT OF THIS COMMITMENT TO ANY OTHER PERSON. .

COMMITMENT TO ISSUE POLICY

Subject to the Notice; Schedule B, Part I—Requirements; Schedule B, Part II—Exceptions; and the Commitment Conditions, Old Republic National Title InsuranceCompany, a Minnesota corporation (the “Company”), commits to issue the Policy according to the terms and provisions of this Commitment. This Commitment iseffective as of the Commitment Date shown in Schedule A for each Policy described in Schedule A, only when the Company has entered in Schedule A both thespecified dollar amount as the Proposed Policy Amount and the name of the Proposed Insured. If all of the Schedule B, Part I—Requirements have not been metwithin 6 months after the Commitment Date, this Commitment terminates and the Company’s liability and obligation end.

COMMITMENT CONDITIONS

1. DEFINITIONS

2. If all of the Schedule B, Part I—Requirements have not been met within the time period specified in the Commitment to Issue Policy, Comitment terminatesand the Company’s liability and obligation end.

3. The Company’s liability and obligation is limited by and this Commitment is not valid without:

4. COMPANY’S RIGHT TO AMEND

The Company may amend this Commitment at any time. If the Company amends this Commitment to add a defect, lien, encumbrance, adverse claim, orother matter recorded in the Public Records prior to the Commitment Date, any liability of the Company is limited by Commitment Condition 5. TheCompany shall not be liable for any other amendment to this Commitment.

5. LIMITATIONS OF LIABILITY

i. comply with the Schedule B, Part I—Requirements;ii. eliminate, with the Company’s written consent, any Schedule B, Part II—Exceptions; oriii. acquire the Title or create the Mortgage covered by this Commitment.

“Knowledge” or “Known”: Actual or imputed knowledge, but not constructive notice imparted by the Public Records.(a)“Land”: The land described in Schedule A and affixed improvements that by law constitute real property. The term “Land” does not include anyproperty beyond the lines of the area described in Schedule A, nor any right, title, interest, estate, or easement in abutting streets, roads, avenues,alleys, lanes, ways, or waterways, but this does not modify or limit the extent that a right of access to and from the Land is to be insured by the Policy.

(b)

“Mortgage”: A mortgage, deed of trust, or other security instrument, including one evidenced by electronic means authorized by law.(c) “Policy”: Each contract of title insurance, in a form adopted by the American Land Title Association, issued or to be issued by the Companypursuant to this Commitment.

(d)

“Proposed Insured”: Each person identified in Schedule A as the Proposed Insured of each Policy to be issued pursuant to this Commitment.(e)“Proposed Policy Amount”: Each dollar amount specified in Schedule A as the Proposed Policy Amount of each Policy to be issued pursuant to thisCommitment.

(f)

“Public Records”: Records established under state statutes at the Commitment Date for the purpose of imparting constructive notice of mattersrelating to real property to purchasers for value and without Knowledge.

(g)

“Title”: The estate or interest described in Schedule A.(h)

the Notice;(a)the Commitment to Issue Policy;(b)the Commitment Conditions;(c)Schedule A;(d)Schedule B, Part I—Requirements; and(e)Schedule B, Part II—Exceptions; and(f)a counter-signature by the Company or its issuing agent that may be in electronic form.(g)

The Company’s liability under Commitment Condition 4 is limited to the Proposed Insured’s actual expense incurred in the interval between theCompany’s delivery to the Proposed Insured of the Commitment and the delivery of the amended Commitment, resulting from the ProposedInsured’s good faith reliance to:

(a)

The Company shall not be liable under Commitment Condition 5(a) if the Proposed Insured requested the amendment or had Knowledge of thematter and did not notify the Company about it in writing.

(b)

The Company will only have liability under Commitment Condition 4 if the Proposed Insured would not have incurred the expense had theCommitment included the added matter when the Commitment was first delivered to the Proposed Insured.

(c)

The Company’s liability shall not exceed the lesser of the Proposed Insured’s actual expense incurred in good faith and described in CommitmentConditions 5(a)(i) through 5(a)(iii) or the Proposed Policy Amount.

(d)

The Company shall not be liable for the content of the Transaction Identification Data, if any.(e)

6. LIABILITY OF THE COMPANY MUST BE BASED ON THIS COMMITMENT

7. IF THIS COMMITMENT HAS BEEN ISSUED BY AN ISSUING AGENT

The issuing agent is the Company’s agent only for the limited purpose of issuing title insurance commitments and policies. The issuing agent is not theCompany’s agent for the purpose of providing closing or settlement services.

8. PRO-FORMA POLICY

The Company may provide, at the request of a Proposed Insured, a pro-forma policy illustrating the coverage that the Company may provide. A pro-formapolicy neither reflects the status of Title at the time that the pro-forma policy is delivered to a Proposed Insured, nor is it a commitment to insure.

9. ARBITRATION

The Policy contains an arbitration clause. All arbitrable matters when the Proposed Policy Amount is $2,000,000 or less shall be arbitrated at the option ofeither the Company or the Proposed Insured as the exclusive remedy of the parties. A Proposed Insured may review a copy of the arbitration rules athttp://www.alta.org/arbitration.

IN WITNESS WHEREOF, Land Title Insurance Corporation has caused its corporate name and seal to be affixed by its duly authorized officers on the date shownin Schedule A to be valid when countersigned by a validating officer or other authorized signatory.

Issued by:Land Title GuaranteeCompany3033 East First Avenue Suite600 Denver, Colorado 80206303-321-1880

President

Old Republic National Title Insurance Company, a StockCompany 400 Second Avenue SouthMinneapolis, Minnesota 55401(612)371-1111

Mark Bilbrey, President

Rande Yeager, SecretaryThis page is only a part of a 2016 ALTA® Commitment for Title Insurance issued by Land Title Insurance Corporation. This Commitment is not valid without theNotice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I—Requirements; and Schedule B, Part II—Exceptions;and a counter-signature by the Company or its issuing agent that may be in electronic form.

Copyright 2006-2016 American Land Title Association. All rights reserved.

The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses areprohibited. Reprinted under license from the American Land Title Association.

In no event shall the Company be obligated to issue the Policy referred to in this Commitment unless all of the Schedule B, Part I—Requirementshave been met to the satisfaction of the Company.

(f)

In any event, the Company’s liability is limited by the terms and provisions of the Policy.(g)

Only a Proposed Insured identified in Schedule A, and no other person, may make a claim under this Commitment.(a)Any claim must be based in contract and must be restricted solely to the terms and provisions of this Commitment.(b)Until the Policy is issued, this Commitment, as last revised, is the exclusive and entire agreement between the parties with respect to the subjectmatter of this Commitment and supersedes all prior commitment negotiations, representations, and proposals of any kind, whether written or oral,express or implied, relating to the subject matter of this Commitment.

(c)

The deletion or modification of any Schedule B, Part II—Exception does not constitute an agreement or obligation to provide coverage beyond theterms and provisions of this Commitment or the Policy.

(d)

Any amendment or endorsement to this Commitment must be in writing and authenticated by a person authorized by the Company.(e)When the Policy is issued, all liability and obligation under this Commitment will end and the Company’s only liability will be under the Policy.(f)