Common Surveys Used F or Commercial Real Estate Transactions

1. Common Surveys Used For Commercial Real Estate Transactions Presented By: Josh Breedlove, P.L.S. Senior Project Manager Flatirons, Inc.

2. Common Types of Survey • Improvement Location Certificate (ILC) • Monumented Land Surveys • Land Survey Plat (LSP) • Improvement Survey Plat (ISP) • ALTA/NSPS Land Title Survey

3. Improvement Location Certificate • Primarily used for residential transactions • Used by mortgage and title companies to limit financial exposure • Commercial uses: • When a prior survey had been performedand verification is needed • On smaller commercial properties • Decision ultimately up to title company

4. What is an ILC? • Depicts the location of permanent improvements in relation to deeded property lines • Location of parcel boundary based on found survey monuments and occupation lines • Dimensions from structures to boundary lines in a “more or less” type of format • Shows easement locations from documents provided to the surveyor • Indicates possible areas of concern

5. Not included in an ILC • An ILC is not an official boundary survey • Deeded boundary locations are approximate • Property corners will not be set • Should not be relied upon for the exact location of a property boundary • Not for the establishment of a fence • Not to be relied upon for site design or engineering

6. Land Survey Plat (LSP) • Sole purpose is to determine property boundary location • Commonly used for establishment of a fence • Most basic survey for property disputes • Can survey only a portion of the property • Monumented Land Survey • Property corners will be found or replaced • Plat will be filed with the county

7. Improvement Survey Plat (ISP) • Includes all aspects of a Land Survey Plat • Shows location of all permanent improvements on the property • Depicts visible encroachments into easements or across property lines • Surface evidence of underground utilities • Design features, such as underground utilities and site topography, can be added

8. Common Uses of an ISP • When potential encumbrances or conflicting boundary evidence are shown on an ILC • Used for a variety of development purposes • Used be architects and engineers to aid in their site design • Often required by municipalities for issuance of a building permit • Needed for zone lot amendments, and as a precursor to plats used for subdividing land

9. ALTA/NSPS Land Title Survey • Based on a minimum set of standards prepared and adopted by the American Land Title Association and the National Society of Professional Surveyors • Standards updated February 23, 2016 • Nationally recognized set of standards • Per Colorado State Statute, ALTA must meet minimum standards of a Land Survey Plat

10. ALTA/NSPS Land Title Survey • Most commonly used survey for Commercial Real Estate transactions • Must include: • On-site fieldwork • Preparation of a map or plat showing results of fieldwork • Additional information per requested Table A items • Certification as defined in minimum standards, except as required by state law

11. ALTA/NSPS Land Title Survey • Includes a review of the title commitment provided by the client. • Surveyor verifies the legal description shown in the title commitment (Schedule A) • The locations and affect of the exceptions (Schedule B2) on the property • Necessary to provide surveyor with a recent title commitment and accompanying recorded documents

12. Table A • Item 1: Monuments • Set all major corners, unless already marked • Required on all ALTA surveys in Colorado • Item 2: Address of surveyed property • As listed in documents provided to or obtained by surveyor • Or as observed during fieldwork

13. Table A • Item 3: Flood zone classification • Location as scaled from FIRM or local maps • Item 4: Gross land area • Based on “as-measured” property boundary • Other areas can be requested

14. Table A • Item 5: Vertical relief (topography) • Typically based on field survey data • Aerial mapping • LIDAR • Contour interval, datum and benchmark elevations must be included on survey • Expensive

15. Table A • Item 6: Zoning • Zoning report or letter must be supplied to the surveyor • Item 6(a): List of zoning classification and requirements • Item 6(b): Graphically depict location of building setback requirements

16. Table A • Item 7: Building Information • Item 7(a): Exterior dimensions of building at ground level • Item 7(b): Square footage • 1) Building at ground level • 2) Other specified areas • Item 7(c): Measured height of building • Item 8: Substantial Site Features • In addition to those required in Section 5 of minimum standard requirements

17. Table A • Item 9: Parking • Clearly identifiable spaces • Striping shown on surface areas • Item 10: Division or Party Walls • a) As designated by client, location of certain division or party walls • b) As designated by client, are certain walls plumb

18. Table A • Item 11: Utilities • Locations of utilities on or serving the property determined by: • Observed evidence • Plans requested by surveyor • Markings requested by surveyor • Excavation only truly accurate way of establishing utility locations

19. Table A • Item 12: Government agency requirements (HUD, BLM) • Item 13: Names of adjoining land owners • Item 14: Distance to nearest intersecting street

20. Table A • Item 15: Alternate tools and technologies for determining location of features • Rectified Orthophotography • Photogrammetric Mapping • Remote Sensing • Laser Scanning

21. Table A • Item 16: Recent earth moving work, building construction, or building additions • Item 17: Proposed changes in street right of way lines • If information is made available by jurisdiction • Observed evidence of street construction

22. Table A • Item 18: Wetlands • Will only locate observed delineation markers • Item 19: Offsite easements • Client to obtain permissions • Item 20: Professional liability insurance • Client designates amount • Only in effect throughout the contract term

23. Questions??? Josh Breedlove, P.L.S. Flatirons, Inc. 3660 Downing Street, Unit E Denver, CO 80205 Phone: 303 936-9667 jbreedlove@flatironsinc.com