Land Title Market Analysis Historical Gross Sales Volume: San Miguel County YTD: 2015 $335,036,300 $316,118,600

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Land Title Market Analysis Historical Gross Sales Volume: San Miguel County 2004 - YTD: 2015 $800,000,000 $750,124,400 $700,000,000 $721,602,700 $600,000,000 $613,055,700 $603,179,200 $500,000,000 $400,000,000 $300,000,000 $508,189,062 $335,036,300 $316,118,600 $366,750,300 $339,287,367 $246,139,900 $246,556,300 $200,000,000 $100,000,000 $91,670,778 $0 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 YTD: 2015 Gross Sales Volume is a summary of total documentary fees annually, provided by the San Miguel County Clerk's Office

Land Title Market Analysis Monthly Summary: San Miguel County Month to Month Comparison # of and $ Volume Month 2013 2014 2015 % Change Year Annual Gross Volume January $9,888,300 $20,955,654 $20,138,325-4% 2004 $613,055,700 n/a January 22 24 29 21% February $22,227,500 $28,019,467 $30,461,256 9% 2005 $721,602,700 18% February 32 34 29-15% March $31,695,800 $45,247,431 $41,071,197-9% 2006 $603,179,200-16% March 33 48 49 2% April $12,014,800 $26,275,135-100% 2007 $750,124,400 24% April 27 43-100% May $35,250,300 $36,515,087-100% 2008 $335,036,300-55% May 37 36-100% June $20,871,500 $40,167,733-100% 2009 $246,139,900-27% June 26 39-100% July $11,514,500 $31,738,578-100% 2010 $316,118,600 28% July 27 47-100% August $46,885,059 $85,924,930-100% 2011 $246,556,300-22% August 48 58-100% September $33,908,250 $70,115,777-100% 2012 $366,750,300 49% September 39 63-100% October $33,359,281 $55,337,701-100% 2013 $339,287,367-7% October 41 49-100% November $16,356,300 $36,829,802-100% 2014 $508,189,062 50% November 34 45-100% December $65,315,777 $31,061,767-100% YTD: 2015 $91,670,778-81.96% December 39 40-100% 2004 through 2012 Gross Sales Volume is a summary of total documentary fees annually, provided by the San % Change Month 2013 2014 2015 % Change Miguel Clerk's Office. Year to Date: $63,811,600 $94,222,552 $91,670,778-3% Year to Date: 87 106 107 1% Annual: $339,287,367 $508,189,062 $91,670,778-82% Annual: 405 526 107-80% Please note: The above figures are an unofficial tabulation of San Miguel County records that are believed to be reasonably accurate. ` Guarantee Company, proudly serving our Community for 8, CO 81435

Land Title Market Analysis by Area: San Miguel County March 2015 All Transaction Summary Residential Summary Area $ Volume % of $ Volume # of % of Transaction Price Median $ Transaction Price Residential Price Median $ Residential Price Residential PPSF Aldasoro & Diamond Ranch $0 0% 0 0% $0 $0 $0 $0 $0 Fall Creek $0 0% 0 0% $0 $0 $0 $0 $0 Gray Head $0 0% 0 0% $0 $0 $0 $0 $0 Hastings Mesa $0 0% 0 0% $0 $0 $0 $0 $0 Ironsprings / Horsefly Mesa $0 0% 0 0% $0 $0 $0 $0 $0 Lawson Hill $624,545 2% 2 4% $312,273 dna $312,273 dna $212 Mountain Village $15,071,600 37% 12 24% $1,255,967 $952,450 $1,324,691 $985,000 $590 Norwood $554,500 1% 4 8% $138,625 $137,500 $139,750 dna $115 Ophir $440,000 1% 1 2% $440,000 dna $440,000 dna $231 Placerville & Sawpit $125,000 0% 1 2% $125,000 dna $0 $0 $0 Preserve $0 0% 0 0% $0 $0 $0 $0 $0 Rural & Out of Area $53,000 0% 1 2% $53,000 dna $0 $0 $0 Ski Ranches $0 0% 0 0% $0 $0 $0 $0 $0 Specie Mesa $2,500,000 6% 1 2% $2,500,000 dna $2,500,000 dna $1,695 Sunnyside $0 0% 0 0% $0 $0 $0 $0 $0 Sunshine Mesa $0 0% 0 0% $0 $0 $0 $0 $0 $20,878,052 51% 21 43% $994,193 $621,000 $866,566 $618,500 $573 Trout Lake $0 0% 0 0% $0 $0 $0 $0 $0 West Meadows $0 0% 0 0% $0 $0 $0 $0 $0 Wilson Mesa, Ptarmigan, Little Cone $0 0% 0 0% $0 $0 $0 $0 $0 Interval Units $142,900 0% 3 6% $47,633 $48,900 $0 $0 $0 Deed Restricted Units $681,600 2% 3 6% $227,200 $269,000 $305,800 dna $221 Quit Claim Deeds $0 0% 0 0% $0 $0 $0 $0 $0 TOTAL $41,071,197 100% 49 100% $935,970 $598,500 $1,021,166 $635,000 $574 (BANK SALES) $0 0% 0 0% $0 $0 $0 $0 $0 Please note: The above figures do not include time share interests. Calculations are an unofficial tabulation of San Miguel County records that are believed to be reasonably accurate but are not guaranteed. Average & Median Residential Price & PPSF Includes: Statistically Viable Sales Only. Average PPSF is calculated for properties with available Square Footages. Guarantee Company, proudly serving our Community for 8, CO 81435

Land Title Market Analysis by Area: San Miguel County YTD: Mar. 2015 All Transaction Summary Residential Summary Area $ Volume % of $ Volume # of % of Transaction Price Median $ Transaction Price Residential Price Median $ Residential Price Residential PPSF Aldasoro & Diamond Ranch $0 0% 0 0% $0 $0 $0 $0 $0 Fall Creek $0 0% 0 0% $0 $0 $0 $0 $0 Gray Head $0 0% 0 0% $0 $0 $0 $0 $0 Hastings Mesa $0 0% 0 0% $0 $0 $0 $0 $0 Ironsprings / Horsefly Mesa $228,000 0% 1 1% $228,000 dna $228,000 dna $93 Lawson Hill $1,169,545 1% 4 4% $292,386 $272,500 $292,386 dna $199 Mountain Village $36,341,500 40% 26 24% $1,397,750 $952,450 $1,518,800 $1,042,500 $557 Norwood $1,158,500 1% 7 7% $165,500 $140,000 $148,167 dna $107 Ophir $590,000 1% 2 2% $295,000 dna $440,000 dna $231 Placerville & Sawpit $1,039,660 1% 4 4% $259,915 $130,000 $0 $0 $0 Preserve $0 0% 0 0% $0 $0 $0 $0 $0 Rural & Out of Area $245,856 0% 2 2% $122,928 dna $0 $0 $0 Ski Ranches $0 0% 0 0% $0 $0 $0 $0 $0 Specie Mesa $2,500,000 3% 1 1% $2,500,000 dna $2,500,000 dna $1,695 Sunnyside $1,250,000 1% 1 1% $1,250,000 dna $1,250,000 dna $227 Sunshine Mesa $0 0% 0 0% $0 $0 $0 $0 $0 $43,547,431 48% 39 36% $1,116,601 $635,000 $958,743 $616,000 $612 Trout Lake $0 0% 0 0% $0 $0 $0 $0 $0 West Meadows $105,000 0% 1 1% $105,000 dna $0 $0 $0 Wilson Mesa, Ptarmigan, Little Cone $1,519,875 2% 1 1% $1,519,875 dna $1,250,000 dna $227 Interval Units $1,032,400 1% 13 12% $79,415 $75,000 $0 $0 $0 Deed Restricted Units $931,600 22% 4 4% $232,900 $259,500 $287,200 dna $234 Quit Claim Deeds $11,411 0% 1 1% $11,411 dna $0 $0 $0 TOTAL $91,670,778 100% 107 100% $1,007,813 $616,000 $1,152,316 $642,500 $554 (BANK SALES) $4,193,275 5% 5 5% $838,655 $728,900 $866,094 $815,000 $276 Please note: The above figures do not include time share interests. Calculations are an unofficial tabulation of San Miguel County records that are believed to be reasonably accurate but are not guaranteed. Average & Median Residential Price & PPSF Includes: Statistically Viable Sales Only. Average PPSF is calculated for properties with available Square Footages. Guarantee Company, proudly serving our Community for 8, CO 81435

Land Title Market Snapshot by Area: San Miguel County Full Year 2014 vs. YTD: 2015 Area Average Price Average Price Single Family YTD: Single Family 2014 2015 % Change vs. Prior Year Average Price Multi-Family 2014 Average Price Multi-Family YTD: 2015 % Change vs. Prior Year Average Price Vacant Land 2014 Average Price Vacant Land YTD: 2015 % Change vs. Prior Year Aldasoro & Diamond Ranch $2,495,176 $0 n/a $0 $0 0% $479,875 $0 n/a Fall Creek $684,000 $0 n/a $0 $0 0% $0 $0 0% Gray Head $0 $0 0% $0 $0 0% $0 $0 0% Hastings Mesa $0 $0 0% $0 $0 0% $1,611,000 $0 n/a Ironsprings / Horsefly Mesa $0 $228,000 n/a $0 $0 0% $369,500 $0 n/a Lawson Hill $0 $0 0% $0 $0 0% $0 $0 0% Mountain Village $3,091,750 $4,186,125 35% $978,799 $926,061-5% $606,868 $742,633 22% Norwood $251,343 $148,167-41% $0 $0 0% $317,089 $137,500-57% Ophir $435,700 $440,000 1% $245,000 $0 n/a $108,500 $150,000 38% Placerville & Sawpit $495,396 $0 n/a $0 $0 0% $394,794 $113,333-71% Preserve $0 $0 0% $0 $0 0% $0 $0 0% Rural & Out of Area $0 $0 0% $0 $0 0% $287,500 $0 n/a Ski Ranches $1,390,457 $0 n/a $0 $0 0% $444,000 $0 n/a Specie Mesa $0 $2,500,000 n/a $0 $0 0% $0 $0 0% Sunnyside $3,495,000 $1,250,000-64% $240,000 $0 n/a $500,000 $0 n/a Sunshine Mesa $0 $0 0% $0 $0 0% $0 $0 0% $2,030,597 $2,900,000 43% $797,914 $884,079 11% $816,765 $2,122,500 160% Trout Lake $0 $0 n/a $0 $0 0% $0 $0 0% West Meadows $0 $0 0% $0 $0 0% $0 $105,000 n/a Wilson Mesa, etc.. $0 $1,519,875 n/a $0 $0 0% $647,250 $0 n/a Gross Live Average: $1,732,433 $2,002,067 16% $860,211 $901,253 5% $561,273 $611,908 9% Please note: The above figures are an unofficial tabulation of San Miguel County records that are believed to be reasonably accurate. Sales belived to be inaccurate indicators of the market have been eliminated. Full Interest, Fee Simple, Arms-Length transactions only, are shown in the Market Snapshot Report. Area Average PPSF Average PPSF Single Family YTD: % Change vs. Single Family 2014 Prior Year 2015 Average PPSF Multi-Family 2014 Average PPSF Multi-Family YTD: 2015 % Change vs. Prior Year Average PPAC Vacant Land 2014 Average PPAC Vacant Land YTD: 2015 Aldasoro & Diamond Ranch $476.05 $0.00 n/a $0.00 $0.00 0% $239,487 $0 n/a Fall Creek $426.12 $0.00 n/a $0.00 $0.00 0% $0 $0 0% Gray Head $0.00 $0.00 0% $0.00 $0.00 0% $0 $0 0% Hastings Mesa $0.00 $0.00 0% $0.00 $0.00 0% $9,298 $0 n/a Ironsprings / Horsefly Mesa $0.00 $93.02 n/a $0.00 $0.00 0% $73,900 $0 n/a Lawson Hill $0.00 $0.00 0% $0.00 $0.00 0% $0 $0 0% Mountain Village $537.71 $641.38 19% $453.96 $537.88 18% $1,197,163 $1,469,020 23% Norwood $131.04 $106.89-18% $0.00 $0.00 0% $17,063 $3,381-80% Ophir $317.25 $231.34-27% $638.02 $0.00 n/a $156,041 $78,534-50% Placerville & Sawpit $266.25 $0.00 n/a $0.00 $0.00 0% $11,608 $14,308 23% Preserve $0.00 $0.00 0% $0.00 $0.00 0% $0 $0 0% Rural & Out of Area $0.00 $0.00 0% $0.00 $0.00 0% $510 $0 n/a Ski Ranches $386.46 $0.00 n/a $0.00 $0.00 0% $224,249 $0 n/a Specie Mesa $0.00 $1,694.92 n/a $0.00 $0.00 0% $0 $0 0% Sunnyside $571.08 $227.36-60% $273.97 $0.00 n/a $88,921 $0 n/a Sunshine Mesa $0.00 $0.00 n/a $0.00 $0.00 0% $0 $0 0% $882.84 $798.90-10% $567.32 $604.38 7% $5,990,547 $303,605-95% Trout Lake $0.00 $0.00 0% $0.00 $0.00 0% $0 $0 0% West Meadows $0.00 $0.00 0% $0.00 $0.00 0% $0 $2,903 n/a Wilson Mesa, etc.. $0.00 $254.37 n/a $0.00 $0.00 0% $25,342 $0 n/a Gross Live PPSF: $542.31 $475.85-12% $522.81 $577.18 10% $1,575,002 $428,783-73% % Change vs. Prior Year Guarantee Company, proudly serving our Community for 8, CO 81435

Land Title Price Point Index: San Miguel County March 2015 Residential Summary # Gross Volume Percentage Gross <=100,000 0 $0 0% 100,001 to 200,000 3 $452,891 1% 200,001 to 300,000 2 $570,000 2% 300,001 to 400,000 3 $1,098,000 3% 400,001 to 500,000 1 $440,000 1% 500,001 to 600,000 4 $2,220,800 7% 600,001 to 700,000 4 $2,522,000 8% 700,001 to 800,000 0 $0 0% 800,001 to 900,000 2 $1,729,900 5% 900,001 to 1,000,000 2 $1,904,900 6% 1,000,001 to 1,500,000 3 $3,434,000 11% 1,500,001 to 2,000,000 4 $6,559,000 21% over $2 Million 3 $10,724,661 34% Total: 31 $31,656,152 100% Residential Price Index March 2015 Number Trans. Total Volume Average Price Single Family 5 $7,344,500 $1,468,900 Multi Family 26 $24,311,652 $935,064 Vacant Land 6 $5,145,000 $857,500 YTD: Mar. 2015 Number Trans. Total Volume Average Price Single Family 13 $26,026,875 $2,002,067 Multi Family 44 $39,655,152 $901,253 Vacant Land 12 $7,342,900 $611,908 Full Year: 2014 Number Trans. Total Volume Average Price Single Family 128 $221,751,368 $1,732,433 Multi Family 168 $144,513,393 $860,199 Vacant Land 75 $42,095,511 $561,273 Full Year: 2013 Number Trans. Total Volume Average Price Single Family 92 $120,332,941 $1,307,967 Multi Family 126 $102,185,824 $810,999 Vacant Land 49 $27,444,150 $560,085 Commercial Index March 2015 Number Trans. Total Volume Average Price Commercial Improved 2 $2,169,500 $1,084,750 Commercial Vacant 0 $0 $0 Development Vacant 0 $0 $0 YTD: Mar. 2015 Number Trans. Total Volume Average Price Commercial Improved 7 $10,684,500 $1,526,357 Commercial Vacant 3 $514,000 $171,333 Development Vacant 1 $699,660 $699,660 Full Year: 2014 Commercial Summary Number Trans. Total Volume Average Price Commercial Improved 17 $56,599,136 $3,329,361 Commercial Vacant 5 $7,808,866 $1,561,773 Development Vacant 1 $10,850,000 $10,850,000 Full Year: 2013 Commercial Summary Number Trans. Total Volume Average Price Commercial Improved 24 $34,845,274 $1,451,886 Commercial Vacant 7 $4,260,260 $608,609 Development Vacant 5 $25,350,000 $5,070,000 Please note: Calculations are an unofficial tabulation of San Miguel County records that are believed to be reasonably accurate but are not guaranteed.

Land Title Price Point Index: San Miguel County YTD: Mar. 2015 Residential Summary # Gross Volume Percentage Gross <=100,000 0 $0 0% 100,001 to 200,000 4 $617,891 1% 200,001 to 300,000 5 $1,345,500 2% 300,001 to 400,000 9 $3,198,000 5% 400,001 to 500,000 2 $855,000 1% 500,001 to 600,000 4 $2,220,800 3% 600,001 to 700,000 4 $2,522,000 4% 700,001 to 800,000 2 $1,595,000 2% 800,001 to 900,000 3 $2,579,900 4% 900,001 to 1,000,000 2 $1,904,900 3% 1,000,001 to 1,500,000 8 $9,409,000 14% 1,500,001 to 2,000,000 5 $8,078,875 12% over $ 2 Million 9 $31,355,161 48% Total: 57 $65,682,027 100% over $ 2 Million 48% Full Year: 2014 Breakdown: by Dollar Volume 200,001 to 300,000 2% 100,001 to 200,000 1% 1,500,001 to 2,000,000 12% 300,001 to 400,000 5% 400,001 to 500,000 1% 500,001 to 600,000 3% 600,001 to 700,000 4% 700,001 to 800,000 3% 1,000,001 to 1,500,000 14% 800,001 to 900,000 4% 900,001 to 1,000,000 3% Breakdown: by Number of 1,500,001 to 2,000,000 9% 1,000,001 to 1,500,000 14% 900,001 to 1,000,000 4% over $ 2 Million 16% 800,001 to 900,000 5% 100,001 to 200,000 7% 700,001 to 800,000 3% Residential Summary 600,001 to 700,000 7% 200,001 to 300,000 9% 300,001 to 400,000 16% 400,001 to 500,000 500,001 to 3% 600,000 7% # Gross Volume Percentage Gross <=100,000 4 $318,100 0% 100,001 200,001 to 200,000 300,000 15 33 $2,501,985 $8,152,748 1% 2% 300,001 to 400,000 31 $10,797,842 3% 400,001 to 500,000 16 $7,304,372 2% 500,001 to 600,000 18 $9,850,329 3% 600,001 to 700,000 15 $9,683,700 3% 700,001 to 800,000 14 $10,550,990 3% 800,001 to 900,000 13 $11,094,500 3% 900,001 to 1,000,000 17 $16,234,695 4% 1,000,001 to 1,500,000 41 $50,890,986 14% 1,500,001 to 2,000,000 24 $41,700,500 11% over $ 2 Million 55 $187,186,014 51% Total: 296 $366,266,761 100% Full Year: 2013 Residential Summary # Gross Volume Percentage Gross <=100,000 0 $0 0% <=100,000 6 $464,800 0% 100,001 to 200,000 30 $4,947,900 2% 200,001 to 300,000 14 $3,313,500 1% 300,001 to 400,000 26 $9,148,699 4% 400,001 to 500,000 10 $4,333,500 2% 500,001 to 600,000 13 $7,330,300 3% 600,001 to 700,000 13 $8,507,764 4% 700,001 to 800,000 7 $5,308,500 2% 800,001 to 900,000 11 $9,511,500 4% 900,001 to 1,000,000 9 $8,527,500 4% 1,000,001 to 1,500,000 39 $49,059,427 22% 1,500,001 to 2,000,000 16 $27,740,000 12% over $ 2 Million 24 $84,325,375 38% Total: 218 $222,518,765 100% Please note: Calculations are an unofficial tabulation of San Miguel County records that are believed to be reasonably accurate but are not guaranteed.

Land Title Market Analysis Average Price Index: San Miguel County 2013 - YTD: 2015 $1,732,433 $2,002,067 $1,307,967 $810,999 $860,199 $901,253 $560,085 $561,273 $611,908 Single Family Multi Family Vacant Land 2013 2014 YTD: 2015

Land Title Market Analysis by Area: San Miguel County March 2015 Interval Transaction Detail Area $ Volume % of $ Volume # of % of Transaction Price Median $ Transaction Price Aspen Ridge $0 0% 0 0% $0 $0 Bear Creek Lodge $0 $0 0 0% $0 $0 Club $117,900 83% 2 83% $58,950 dna Inn at Lost Creek $25,000 $0 1 0% $25,000 dna Le Chamonix $0 0% 0 0% $0 $0 Le Chateaux $0 0% 0 0% $0 $0 Pine Meadows $0 0% 0 0% $0 $0 River Club $0 0% 0 0% $0 $0 Spruce Lodge $0 0% 0 0% $0 $0 Sunshine Lodge $0 0% 0 0% $0 $0 TOTAL $142,900 100% 3 100% $47,633 $48,900 Please note: Calculations are an unofficial tabulation of San Miguel County records that are believed to be reasonably accurate but are not guaranteed. Average & Median Price: Statistically Viable Sales Only. Guarantee Company, proudly serving our Community for 8, CO 81435

Land Title Market Analysis by Area: San Miguel County YTD: Feb. 2015 Interval Transaction Detail Area $ Volume % of $ Volume # of % of Transaction Price Median $ Transaction Price Aspen Ridge $0 0% 0 0% $0 $0 Bear Creek Lodge $0 0% 0 0% $0 $0 Club $615,400 60% 8 60% $76,925 $72,000 Inn at Lost Creek $25,000 2% 1 2% $25,000 dna Le Chamonix $0 0% 0 0% $0 $0 Le Chateaux $0 0% 0 0% $0 $0 Pine Meadows $95,000 9% 1 9% $95,000 dna River Club $297,000 29% 3 29% $99,000 $78,000 Spruce Lodge $0 0% 0 0% $0 $0 Sunshine Lodge $0 0% 0 0% $0 $0 TOTAL $1,032,400 100% 13 100% $79,415 $72,000 Please note: Calculations are an unofficial tabulation of San Miguel County records that are believed to be reasonably accurate but are not guaranteed. Average & Median Price Includes: Statistically Viable Sales Only. Guarantee Company, proudly serving our Community for 7, CO 81435

Land Title Market Highlights: San Miguel County Highest Priced Residential Sale: March 2015 Brm Bath Year Built Size Price Legal Purchaser PPSF Date Street Address Bank Reference N/A N/A 2005 8276 $ 4,125,000.00 Lot 926A-R San Joaquin Villlage Mountain Village P:Robert G. Schemel Trust $ 498.43 3/27/2015 0129 Sundance Lane Highest Price PSF Residential Sale: March 2015 Brm Bath Year Built Size Price Legal Purchaser PPSF Date Street Address Bank Reference 5 6.00 2010 4410 $ 4,099,661.00 Element 52 Condo Unit 5, East Building P:Element 52-E5II, LLC $ 929.63 3/18/2015 0398 South Davis Street, #E5 Bank Sales Detail: March 2015 Brm Bath Year Built Size Price Legal Purchaser PPSF Date Street Address Bank Reference There were no Bank Sales in March 2015 Please note: Calculations are an unofficial tabulation of San Miguel County records that are believed to be reasonably accurate but are not guaranteed. Purchaser Abstract: 29 March 2015 4 16 YTD: Mar. 2015 6 34 0 Local Front Range Out of State: Domestic International Local Front Range All Sales: March 2015 Origin of Buyer # of Trans. % Overall Local 16 33% Front Range 0 0% Out of State: Domestic 29 59% International 4 8% Total Sales 49 100% All Sales: YTD: Mar. 2015 Origin of Buyer # of Trans. % Overall Local 34 32% Front Range 3 3% Out of State: Domestic 64 60% International 6 6% Total Sales 107 100% 64 3 Out of State: Domestic International All Sales: Full Year 2014 Origin of Buyer # of Trans. % Overall Local 175 33% Front Range 17 3% Out of State: Domestic 327 62% International 7 1% Total Sales 526 100% All Sales: Full Year 2013 Origin of Buyer # of Trans. % Overall Local 138 34% Front Range 14 3% Out of State: Domestic 248 61% International 5 1% Total Sales 405 100%

Land Title Property Type Trans. Analysis: San Miguel County YTD: Mar. 2015: Gross Sales Reconciliation by Transaction Type # Gross Volume Single Family 13 $ 26,026,875.00 Multi Family 44 $ 39,655,152.00 Vacant Land 12 $ 7,342,900.00 Commercial 10 $ 11,198,500.00 Development Land 1 $ 699,660.00 Timeshare / Interval 13 $ 1,032,400.00 Not Arms Length/Low Doc Fee Quit Claim Deed 1 $ 11,411.00 Related Parties Bulk Multi-Family Unit/Project Sales Partial Interest Sales 2 $ 651,500.00 Deed Restricted / Mobile Homes 9 $ 2,259,524.00 Multiple Units & Sites/Same Deed 2 $ 2,792,856.00 Water Rights / Open Space / Easements Exempt / Political Transfers Total : 107 $ 91,670,778.00, CO 81435

Land Title New Development Summary: San Miguel County Improved Residential New Unit Sales detail: March 2015 Brm Bath Year Built Size Price Legal Unit Type PPSF Address 2 2.00 2010 1305 $ 237,947.00 Lawson Hill PUD Lot Q26 DEED RESTRICTED $ 182.33 777 Two Rivers Drive 5 6.00 2010 4425 $ 870,000.00 Element 52 Condo Unit 4, Cascades Building & Parking Unit P-12 MULTIFAM $ 196.61 0368 South Davis Street, #E4 2 2.50 2009 1604 $ 1,149,000.00 Mountain Village Resort Condo Unit RC-533 MULTIFAM $ 716.33 0568 Mountain Village Blvd, #RC-533 2 2.50 2009 1436 $ 919,900.00 Mountain Village Resort Condo Unit RC-532 MULTIFAM $ 640.60 0568 Mountain Village Blvd, #RC-532 2 2.50 2009 1569 $ 859,900.00 Mountain Village Resort Condo Unit RC-302 MULTIFAM $ 548.06 0566 Mountain Village Blvd, #RC-302 5 6.00 2010 4410 $ 4,099,661.00 Element 52 Condo Unit 5, East Building MULTIFAM $ 929.63 0398 South Davis Street, #E5 3 3.00 2010 1842 $ 1,650,000.00 Element 52 Condo Unit 203, West Building + Parking Space #55 MULTIFAM $ 895.77 0398 South Davis Street, W203 1 1.00 2009 1128 $ 529,900.00 Mountain Village Resort Condo Unit RC-305 MULTIFAM $ 469.77 0568 Mountain Village Blvd, #RC-305 3 3.50 2009 2137 $ 1,610,000.00 Mountain Village Resort Condo Unit RC-435 MULTIFAM $ 753.39 0568 Mountain Village Blvd, #RC-435 3 3.50 2009 2150 $ 1,649,000.00 Mountain Village Resort Condo Unit RC-630 MULTIFAM $ 766.98 0568 Mountain Village Blvd, #RC-630 1 1.00 2009 1287 $ 564,900.00 Mountain Village Resort Condo Unit RC-306 MULTIFAM $ 438.93 0568 Mountain Village Blvd, #RC-306 Summary of Improved Residential New Unit Sales: March 2015 Average Price: Average PPSF: Median Price: # : Gross Volume: $ $1,285,473 $594.40 $919,900 11 14,140,208.00 Guarantee Company, proudly serving our Community for 8 NOTE: The above figures do not include time share interests, new vacant site transactions, or new commercial unit transactions. Data is deemed reliable but not guaranteed.