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STEWART TITLE GUARANTY COMPANY AL TA Owner's Policy - Form A - Amended 10'17-70 .1 ,f.! POLICY OF TITLE INSURANCE ISSUED BY #8408024 t ) STEWART TITLE GU ARANTY COMPANY '.........'..." ''''.................................'.. '.i.:::"',,:,,:: ,:,:c ~ :',' '''',' , '0 0,' ,,,, ?;; ':;::;::'::.-: SUBJECT TO THE EXCLUSIONS FROM COV~~AGE, THE EXC~~TIONS CONTAINED IN SCHEDULE BAND THE PROVISIONS OF THE CONDITIONS .4.~O STIPUlATIOi\lS} HEREOF, STEWART TITLE GUARANTY COMPANY, a corporation of Galveston, TexasFhefein called the Company, insures, as of Date of Policy shown in Schedule A, against loss or damage, not exceeding the amount of insurance stated in Schedule A, and costs, attorneys' fees and expenses which the Company may become obligated to pay hereunder, sustained or incurred by the insured by reason of: 1. President than as stated therein; 2, Any defect in or lien or 3. lack of a right of access to and IN WITNESS WHEREOF, Stewart du Iy authorized officers as of Date of policy to be signed and sealed by its ~~ '-h(~ e!Aaw/1I7~ Chairman of the Board Countersigned: ~c':L~ . Authorized Countersignature EXC LUSIO"'~~RPM:GOV E RAG E S't/tN,>!;!) Con/ran The following matters are expressly excluded from the coverage of this policy: 1. Any law, ordinance or governmental regulation (including but not limited to building and zoning ordinances) restricting or regulating or prohibiting the occupancy, use or enjoyment of the land, or regulating the character, dimensions or location of any improvement now or hereafter erected on the land, or prohibitin'g a separation in ownership or a reduction in the dimensions or area of the land, or the effect of any violation of any such law, ordinance or governmental regulation. 2. Rights of eminent domllin or governmental rights of police power unless notice of the exercise of such rights appears in the public records at Date of Policy. 3. Defects, I iens, encumbrances, adverse claims, or other matters (a) created, suffered. assumed or agreed to by the insured claimant, (b) not known to the Company and not shown by the public records but known to the insured claimant either at Date of Policy or at the date such claimant acquired an estate or interest insured by this policy and not disclosed in writing by the insured claimant to the Company prior to the date such insured claimant became an insured hereunder; (c) resulting in no loss or damage to the insured claimant; (d) attaching or created subsequent to Date of Policy; or (e) resulting in loss or damage which would not have been sustained if the insured claimant had paid value for the estate or interest insured by this policy. 4. The refusal of any person to purchase, lease or lend money on the estate or interest covered hereby in the land described in Schedule A. Page 1 of 0 9901 Policy . Serial No. . 48571 -- -- ---- --- --- ~ -..;-- ---- 001,A -':; t t t t t t t CONDITIONS AND STIPULATIONS 1. DEFINITION OF TERMS The following terms when used in this policy mean: (a) "insured": the insured named in Schedule A, and, subject to any rights or defenses the Company may have against the named insured, those who succeed to the interest of such insured by operation of law as distinguished from purchase including, but not limited to, heirs, dis- tributees, devisees, survivors, personal representatives, next of kin, or corporate or fiduciary successors, (b) "insured claimant": an insured claiming loss or damage hereunder. (c) "knowledge": actual knowledge, not constructive knowledge or notice which may be imputed to an insured by reason of any public records. (d) "land": the land described, specifically or by referel1ce in Sgl1ecju Ie. A, and improvements affixed thereto which by law constitute real property; p'rovided, however, the term "land" does not include any property beyond the lines of the area specifically described or referred to in Schedule A, nor any right, title, interest, estate or easement in abutting streets, roads, avenues, alleys, lanes, ways or waterways, but nothing herein shall modify or limit the extent to which a right of access to and from the land is insured by this policy. (e) "mortgage": mortgage, deed of trust, trust deed, or other security instrument. (f) "public records": those records which by law impart constructive notice of matters relating to said land. 2. CONTINUATION OF INSURANCE AFTER CON- VEYANCE OF TITLE The coverage of this policy shall continue in force as of Date of Policy in favor of an insured so long as such insured retains an estate or interest in the land, or holds an indebtedness secured by a purchase money mortgage given by a purchaser from such insured, or so long as such insured shall have liability by reason of covenants of warranty made by such insured in any transfer or conveyance of such estate or interest; provided, however, this policy shall not continue in force. in favor of any purchaser from such insured of either said estate or interest or the indebtedness secured by a purchase money mortgage given to such insured. 3. DEFENSE AND PROSECUTION OF ACTIONS- NOTICE OF CLAIM TO BE GIVEN BY AN INSURED CLAIMANT (a) The Company, at its own cost and without undue delay, shall provide for the defense of an insured in all litigation consisting of actions or proceedings commenced against such insured, or a defense interposed against an insured in an action to enforce a contract for a sale of its estate or interest in said land, to the extent that such litigation is founded upon an alleged defect, lien, encumbrance, or other matter insured against by this policy. or interest as insured, and which might cause loss or damage for which the Company may be liable by virtue of this policy. If such prompt notice shall not be given to the Company, then as to such insured all liability of the Company shall cease and terminate in regard to the matter or matters for which such prompt notice is required; provided, however, that failure to notify shall in no case prejudice the rights of any such insured under this policy unless the Company shall be prejudiced by such failure and then only to the extent of such prejudice. (c) The Company shall have the right at its own cost to institute and without undue delay prosecute any action or proceeding or to do any other act which in its opinion may be necessary or desirable to establish the title to the estate or interest as insured, and the Company may take any appropriate action under the terms of this policy, whether or not it shall be liable thereunder, and shall not thereby concede liability or waive any provision of this policy. (d) Whenever the Company shall have brought any action or interposed a defense as requ ired or perm itted by the provisions of this policy, the Company may pursue any such litigation to final determination by a court of competent jurisdiction and expressly reserves the right, in its sole discretion, to appeal from any adverse judgment or order. (e) In all cases where this policy permits or requires the Company to prosecute or provide for the defense of any action or proceeding, the insured hereunder shall secure to the Company the right to so prosecute or provide defense in such action or proceeding, and all appeals therein, and permit the Company to use, at its option, the name of such insured for such purpose, Whenever requested by the Company, such insured shall give the Company all reasonable aid in any such action or proceeding, in effecting settlement, securing evidence, obtaining witnesses, or pros- ecuting or defending such action or proceeding, and the Company shall reimburse such insured for any expense so incurred, 4. NOTICE OF lOSS - LIMITATION OF ACTION In addition to the notices required under paragraph 3(b) of these Conditions and Stipulations, a statement in writing of any loss or damage for which it is claimed the Company is liable under this policy shall be furnished to the Company within 90 days after such loss or damage shall have been determined and no right of action shall accrue to an insured claimant until 30 days after such statement shall have been furnished. Failure to furnish such statement of loss or damage shall terminate any liability of the Company under this policy as to such loss or damage. 5. OPTIONS TO CLAIMS PAY OR OTHERWISE SETTLE The Company shall have the option to payor otherwise settle for or in the name of an insured claimant any claim insured against or to terminate all liability and obligations (b) The insured shall notify the Company promptly in of the Company hereunder by paying or tendering payment writing (i) in case any action or proceeding is begun or of the amount of insurance under this policy together with defense is interposed as set forth in (a) above, (ii) in case any costs, attorneys' fees and expenses incurred up to the knowledge shall come to an insured hereunder of any claim time of such payment or tender of payment, by the insured , of ti~le, or interest which is adverl to the title to the estate claimant and authored by the Company,: (continued and cOtlcluded ~m last page of this pclcy) ALTA OWNER'S POLICY -Amended 10/17/70 I I SCHEDULE A Order No,: 8408024 Policy No.: 48571 Date of Policy: August 22, 1984 Amount of Insurance: $ 17 ,000.00 1. Name of Insured City of Clearwater, Florida, a municipal corporation 2. The estate or interest in the land described herein and which is covered by this policy is: Fee Simpl e 3. The estate or interest referred to herein is at Date of Policy vested in: City of Clearwater, Florida, a municipal corporation 4. The land referred to in this policy is described as follows: Lot 6, in Block "C"~ Clearwater Highlands, Unit "B", according to the map or plat thereof, as recorded in Plat Book 30, page 29, Public Records of Pinellas County, Florida. Page 2 STEWART TITLE 0012 50M 2,83 GUARANTY COMPANY msm AL T A OWNER'S POLICY - Amended 10/17/70 I I SCHEDULE B Policy No.: 48571 This policy does not insure against loss or damage by reason of the following: 1, Rights or claims of parties in possession not shown by the public records. 2. Easements, or claims of easements, not shown by the public records. 3, Encroachments, overlaps, boundary line disputes, or other matters which would be disclosed by an accurate surveyor inspection of the premises. 4. Any lien, or right to a lien, for services, labor or material heretofore or hereafter furnished, imposed by law and not shown by the public records. 5. Community property, dower, curtesy, survivorship, or homestead rights, if any, of any spouse of the insured. 6. Any titles or rights asserted by anyone including but not limited to persons, corporations, governments or other entities, to tide lands, or lands comprising the shores or bottoms of navigable rivers, lakes, bays, ocean or gulf, or lands beyond the line of the harbor or bulkhead lines as established or changed by the United States Government or water rights, if any, 7. Taxes for the year 19 84 and thereafter. 8. Subject to restrictions recorded in Deed Book 1389, page 200, Publ ic Records of Pinellas County, Florida. 9. Subject to a 3 foot public utility easement over and across the West boundary line (rear) as shown by Plat Book 30, page 29, Public Records of Pinellas County, Florida. 10. Subject to any 1 ien for municipal improvements or services to captioned land which has not been fil ed for record in the offi ce of the Cl erk of the Circuit Court of Pinellas County, Florida, and any and all outstanding assessments projected or to be projected, if any. ll. subject to water, sewer, or garbage removal servi.ce charges, if any, due and payable to a municipal .authority. 12. Subject to zoning and/or other governmental prohibition or regulations affecting the use of the property. 13. Titl e to any furniture, furni shings, fixtures, or chattels or personal property located in, to or upon the land described in Schedule "All hereof. Title to mobile homes i.s neither guaranteed nor insured under the terms of this pol icy. STE'\~An,T TI'I'LE 2113 (Rev. 3/80) 10M-1-84 GUARANTY COMPANY Page 3 :- ---- - . CONDITIONS AND STIPULATIONS Continufd ..' (c<ttinued and concluded from reverse side of Policl Face) 6. DETERMINATION AND PAYMENT OF lOSS if the amount of insurance under this policy was di~ided (a) The liability of the Company under this policy pro rata as to the value on Date of Policy of each separate shall in no case exceed the least of: parcel to the whole, exclusive of any improvements made (') th t II f h' d . subsequent to Date of Policy, unless a liability or value has I e ac ua oss 0 t e Insure claimant' or h' , ot erwlse been agreed upon as to each such parcel by the (ii) the amount of insurance stated in Schedule A. Company and the insured at the time of the issuance of this (b) The Company will pay, in addition to any loss policy and shown by an express statement herein or by an insured against by this policy, all costs imposed upon an endorsement attached hereto. insured in litigation carried on by the Company for such insured, and all costs, attorneys' fees and expenses in litigation carried on by such insured with the written authorization of the Company. (c) When liability has been definitely fixed in accord- ance with the conditions of this policy, the loss or damage shall be payable within 30 days thereafter. 7. LIMITATION OF LIABILITY No claim shall arise or be maintainable under this policy (a) if the Company, after having received notice of an alleged defect, lien or encumbrance insured against hereunder, by litigation or otherwise, removes such defect lien or encumbrance or establishes the title as insured' within a reasonable time after receipt of such ~otice; (b) i~ the event of litigation until there has been a final determination by a court of competent jurisdiction, and disposition of all appeals therefrom, adverse to the title, as insured, as provided in paragraph 3 hereof; or (c) for liability voluntarily assumed by an insured in settling any claim or su it without prior written consent of the Com- pany. 8. REDUCTION OF LIABILITY All payments under this policy, except payments made for costs, attorneys' fees and expenses, shall reduce the amount of the insurance pro tanto, No payment shall be made without producing this policy for endorsement of such payment unless the policy be lost or destroyed, in which case proof of such loss or destruction shall be furnished to the satisfaction of the Company. 9. LIABILITY NONCUMULATIVE It is expressly understood that the amount of insurance under this policy shall be reduced by any amount the Company may pay under any policy insuring either (a) a mortgage shown or referred to in Schedule B hereof which is a lien on the estate or interest covered by this policy, or (b) a mortgage hereafter executed by an insured which is a charge or lien on the estate or interest described or referred to in Schedule A, and the amount so paid shall be deemed a payment under this policy. The Company shall have the option to apply to the payment of any such mortgages any amount that otherwise would be payable hereunder to the insured owner of the estate or interest covered by this policy and the amount so paid shall be deemed a payment under this policy to said insured owner. 10. APPORTIONMENT If the land described in Schedule A consists of two or more parcels which are not used as a single site, and a loss is established affecting one or more of said parcels but not all, the loss shall be computed and settled on a pro rata basis as Valid Only If Schedules A and B are Attached. 11. SUBROGATION UPON PAYMENT OR SETTLE- MENT Whenever the Company shall have settled a claim under this policy, all right of subrogation shall vest in the Company unaffected by any act of the insu red claimant. The Company shall be subrogated to and be entitled to all rights and remedies which such insured claimant would have had against any person or property in respect to such claim had this policy not been issued, and if requested by the Company, such insured claimant shall transfer to the Company all rights and remedies against any person or property necessary in order to perfect such right of subrogation and shall permit the Company to use the name of such insured claimant in any transaction or litigation involving such rights or remedies. If the payment does not cover the loss of such insured claimant, the Company shall be subrogated to such rights and remedies in the proportion which said payment bears to the amount of said loss. If loss should result from any act of such insured claimant, such act shall not void this policy, but the Company, in that event, shall be required to pay only that part of any losses insured against hereunder which shall exceed the amount if any, lost to the Company by reason of the impairment'of the right of subrogation, 12. LIABILITY LIMITED TO THIS POLICY This instrument together with all endorsements and other instruments, if any, attached hereto by the Company is the entire policy and contract between the insured and the Company. Any claim of loss or damage, whether or not based on negligence, and which arises out of the status of the title to the estate or interest covered hereby or any action asserting such claim, shall be restricted to the provisions and conditions and stipulations of this policy. No amendment of or endorsement to this pOlicy can be made except by writing endorsed hereon or attached hereto signed by either the President, a Vice President, the Secretary, an Assistant Secretary, or validating officer or authorized signatory of the Company. 13. NOTICES, WHERE SENT All notices required to be given the Company and any statement in writing required to be furnished the Company shall be addressed to it at its main office, p, O. Box 2029, Houston, Texas 77252, 14. The premium specified in Schedule A is the entire charge for acceptance of risk. It includes charges for title search and examination if same is customary or requ ired to be shown in the state in which the policy is issued. STEWART TIr.I~LE GUARANTY COMPANY .' STEWART TITLE GUARANTY COMPA.NY ESTABLISHED 1896 INCORPORATED 1908 A NAME RECOGNIZED NATIONALLY FOR MORE THAN 75 YEARS AS BEING SYNONYMOUS WITH SAFETY '.;::~ --- ---- --- -- -+- ~ S~ancfi!JI q{ ConrraCl STEWART TITLE GUARANTY COMPANY P. O. Box 2029 Houston, Texas 77252 -+- -- ---- --- -+- --- -+- --+, --+- --- -+- --- - POLICY OF TITLE INSURANCE ~ ~ ......---;,