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•3er 20 04 01:27p Frank J. Rnesi <br />~~ JUL-ZB-LIENS 1~:5'f <br />~r <br />1. The term morgage. when used herein. shall include oee0 <br />of Irust, (rust deed, or Other security instrument. <br />:,~, 2. 1l the proposed insured has or acquires actualknowledge <br />vl any detect. lien. encumbrance, adverse claim or other <br />matter affecting me estate or interest or mortgage thereon <br />covered by this Commitment other than those shown in <br />Schedue B hereof. aria shall fail to disclose such knowledge <br />m the Company in writing. We Company shall be relieved <br />Iron ilebility for any loss or damage reGUhing from any eel of <br />reliance hereon to the extant the Company is prejudicetl Dy <br />failure to so disclose sucn knowledge. ll the proposed <br />Insufe0 Shall 6iaClOSa such knowledge lO the Company or it <br />the Company otherwise acquires actual knowledge of any <br />such detect. lien, encumbrance. adceree Uatm or other <br />matter, the Company et its option may amend Schedule 8 01 <br />this Commitment ectwrdingly, Out such amendment shalt <br />net relieve the Company from Iiapitity previously Incurred <br />pursuant to t aregraph3 0l these Condihons and Stipulations. <br />3- Liabililyolttre Company under this Commitment shall be <br />only to the named proposed insured and sucn parties <br />[9701 259-2793 p.7 <br />r. n7 <br />C®nditions and Stitaulations <br />included under the definition of insurP.d:n the Corm of policy <br />or policies Coq'tmilted for and omy for adua{ loss incurred in <br />reliance hereon in undertaking In good lafth ta) to comply <br />with the requiremems hereof, or (b11o eliminate exceptions <br />shown in Schedule B, or Ic) to ecqulre or Create the estate or <br />interest or mortgage ttuveon covered 6y this Gemmilment. <br />In no event snail sucn tiabirily exceed Cho amount slated in <br />SeRetlule A for the policy or policies committed for and such <br />liabifity i6 subject to the insuring provrsions, the Conditions <br />and St:puletions, and the Exclusions from Coverage of tRe <br />form Ot policy Or pDUGies Committed for in }armor or the <br />proposed insured which are hereby incwDOrated t>y relev- <br />ance and are made a pert of this CommRment except as <br />evpreuly modified herein. <br />a. Any action or actions or rights of action that the proposed <br />Insured may have ormay bang against the Company aASirrg <br />out of the status of the fills to the estate or interest or the <br />s1a1US Ot the mortgage thereon covered by this COTmitmMll <br />must be based on end ere sub)eet [o the provisions of this <br />Gommitmanl <br />This Commitment shall be effective only when the identity of the proposed Insured and the amount of the policy or <br />policies commintrd for have been inserted in Sehedute A hereof by the Company, eitheral the time of the issuance <br />of this Commitment or by subsequent endorsement. <br />This Commitment is preliminary to the issuance of such policy or policies of title insurance and all liabifity and <br />obligations hereunder shall chase and terminate one fiurtdred eighty (180) days aRer the effective date hereof or <br />'~ when the policy or policies committedtorsnallissue,whichevertia[occurs. provided thatthetaikuetoissuesuch <br />policy or pdicies is not ehe fault of the Company. <br />COLORADO LAND TITLE COMPANY <br />970°h Maln AyaRUB <br />Post Olflee Box 19T <br />Durango, CO 81302 <br />r~t,7~~iT ~ai~ <br />TIC~R TITLE InI~~DRAtdCE <br />~,:. <br />