CITY NATIONAL BANK OF MIAMI
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OPTION
THIS AGREEf.1ENT, made this t::>2'/'/L day of ~~
1982, by and between CITY NATIONAL BANK OF MIAMI, as Trustee, pUr-
suant to ~ust ~. 5000319, hereinafter referred to as "Seller",
and the CITY OF CLEARWATER, FLORIDA, a municipal corporation,
hereinafter referred to as "Purchaser";
WIT N E SSE T H:
WHEREAS, Seller is the OWner of certain real estate situated
in Hillsborough County, Florida, described as follows:
and
SEE EXHIBIT "A" ATTACHED HERETO AND MADE A PART HEREOF;
WHEREAS,_the Purchaser desires an option to purchase said
real estate.
NOW THEREFORE, Seller, for and in consideration of the sum
of FIVE HUNDRED DOLLARS ($500.00) duly paid by the Purchaser,
receipt of which is hereby aCknowledged by Seller, does hereby
grant to the Purchaser, its successors and assigns, at the Pur-
chaser's oPtion, for and during the period of ninety (90) days
from the date hereof, the right and privilege to purchase the
above-described parcel of real estate, containing an agreed upon
508 acres +/-, for the price of THREE THOUSAND n,o HUNDRED FIFTY
DOLLARS ($3,250.00) per acre good and lawful money of the U.S.A.
The exercise of this option by the Purchaser to purchase
the aforementioned property shall be by written notice to the
Seller, said notice shall be sent to said Seller's repreSentati~,
INTERNATIONAL REALTY SERVICES, INC.
Post Office Box 25501
Tamarac, Florida 33320
on or before the expiration date of this Option Agreenent. In
case said notice is given by mail, the time of deposit of same
in a prepaid sealed envelope in a depOSitory for the receipt of
the United States mail shall not only constitute sufficient notice
to the Seller of such action, but the tiBe of such notice of ac-
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ceptance shall be, in Such case, the time of deposit of the sa~e
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in a united States Post Office.
In the event the Purchaser exercises this option, the Sel-
ler shall, within twenty (20) days of such notice, furnish to
the Purchaser a title insurance commitment, showing good and
clear merchantable title of record to said property in the Sel-
ler, free and clear of liens, encumbrances, rights, title or in-
terests in others, except as set forth as exceptions numbered
Schedule B, 1 to 8 and 10 to 14 in title policy No. 62586,
written on Stewart Title Guaranty Company, a copy of which is
attached hereto as Exhibit liB".
In the event said commitment
shows defects, liens, encumbrances, rights, title or interests
not hereinbefore noted, the Seller shall use diligent effort to
perfect the title, and the Seller shall have a reasonable time
therefore, not to exceed thirty (30) days.
Within thirty (30) days after delivery of such title insur-
ance commitment to the PurchaserJ the closinq-~~]l
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Conveyance shall be made by Seller by a good and sufficient
~'larranty Deed.
Seller shall affix the proper documentary stamps
on the Deed and Purchaser shall record the same.
Real estate
taxes for the year 1982 shall be pro-rated at the time of closing,
provided, however, should a defect in the title be found, then
closing shall take place ten (10) days after the defect has been
corrected. The closing shall take place in the office of the
City Attorney, City Hall, 112 South Osceola Avenue, Clearwater,
Florida. If Seller does ,not perfect title or otherwise fails to
perform Seller's obligation thereunder, Seller shall promptly
refund to Purchaser the FIVE HUNDRED DOLLARS ($500.00) paid for
this option.
It is agreed and understood that if the said Purchaser shall
fail to exercise this option within the time above mentioned,
said Purchaser shall forfeit the sum of FIVE HUNDRED DOLLARS
($500.00) paid to Seller for thi~ option as hereinabove acknow-
ledged, and all obligations of both parties shall be fully dis-
charged.
Any real estate conunission incurred by this option or sale
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of property shall be paid by the Seller.
This contract shall be binding upon the successors and
assigns of the Seller, but shall not be assignable by the Pur-
chaser.
The purchase price shall be payable by Cashier's Check at
closing.
This Contract is executed by City National Bank of Miami,
not personally, but as Trustee as aforesaid, in the exercise
of the power and authority conferred upon and vested in it as
such Trustee.
It is expressly understood and agreed by the Pur-
chaser that nothing herein contained shall be construed as creat-
ing any personal liability on City National Bank of Miami or on
any of the beneficiaries under said trust agreement.
IN WITNESS 1;\THEREOF, the parties hereto have hereunto s,et
their hands and seals to be affixed hpn"t-C'l ..o.n~.:the -L3..::d,~ ~i~t.
above written.
Signed, sealed and delivered
in the presence of:
CITY NATIONAL BANK OF MIAMI,
as Trustee, pursuant to Trust
No. 500 319
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BY:
ATTEST:
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:~~l' SUBJECT TO THE EXCLUSIONS FROM COVERAGE, THE EXCEPTIONS CONTAINED IN SCHEDULE B AND i;~i';;:,
~~iir THE PROVISIONS OF THE CONDITIONS AND STIPULATIONS HEREOF, STEWART TITLE GUARANTY ;~;,~;'-
~~i.J'~,i COMPANY, a corporation of.Galveston, Texas, herein called the Company, insures, as of Date of Policy shown in :.l17i
::n~: Schedule A, against loss or damage, not exceeding the amount of insurance stated in Schedule A, and costs, attorneys' fB--& ~
'.~,\'I/: fees and expenses which the Company may become obligated to pay hereunder, sustained or incurred by the insured by t~'r
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~~ 1. Title to the estate or interest described in Schedule A being vested otherwise than as stated therein; ~~i<
fM~";; 2. Any defect in or lien or encumbrance on such title; or ;,~~
;.f l~! 3. lack of a right of access to and from the land. r,\,~, ;,\'::
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&}1; IN WITNESS WHEREOF, Stewart Title Guaranty Company has caused this policy to be signed and sealed by its ;~~,~~
:;tIW duly authorized officers as of Date of Policy shown in Schedule A. ,.1++;,
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::v..,j The following matters are expressly excluded from the coverage of this policy:
~D' '~'.,: 1_ Any law, ordinance or governmental regulation (including but not .Iimithed thO building and zoning ordinances) restricting or regulating or
. f'. prohibiting the occupancy, use or enjoyment of the land, or regulating t e c aracter, dimenSions or location of any improvement now or
j; )i' hereafter erected on the land, or prohibiting a separation in ownership or a reduction in the dimensions or area of the land, or the effect
?)}S'; of any violation of any such law, ordinance or governmenial regulation_
.~'~'j;' 2. Rights of eminent domain or governmental rights of police power unless notice of the exercise of such rrghts appears in the public
:-', . records of Date of Policy.
~';v.t 3. Defects, liens, encumbrances, adverse claims, or other matters (al created, suffered, assumed or agreed to by the Insured claimant, Ib) not
:~,{,},..! known to the Company and not shown by the public records but known to the insured claimant either 'at Dale 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
::;\'i'l Wior to the date such insured claimant became an Insured hereunder; Ic) resulting in no loss or damage to the in~'''ed claimant, Idl
':'1,;:" attaching or created subsequent to Date of Policy: or Ie) resulting in loss or damage which w'ould not have been sustained if the insured
:';V~ claimant had paid value for the estate 0.' interest insured by this policy.
~.~':';. 4. The refusal of any person to purchase, lease or lend t7loney on the estate or interest covered hereby in the land described in Schedule A.
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SCHEDULE OF EXCLUSIONS FROM COVERAGE
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:', II! Tn nWNER'S POLICY - AmCllclC1' 11'1170
SCHEDULE A
Order No.: 7603169
Policy No,: 62586 0
Date of Policy: April 1, 1976, at 8: 00
o.clock A.M.
Amount of In5urance: $981,558.50
1. Name of Insured:
SEE CONTINUATION SHEET 'ATTACHED HERETO
2. The estate or interest in the land described herein and which is covered by thi5 policy is:
Fee Simple
3, The eslllte or ir1teres1 r(delTl~d to hf'r~in i5 at Date of Policv vt's!cd in:
CITY NATIONAL BANK OF MIAMI,
poration organized under the
orized to accept and execute
trustee under the provisions
26th day of March, 1976, and
~IAMI, FLORIDA, a national banking cor-
laws of the United States, and duly auth-
trusts within the State of Florida, as
of a certain Trust Agreement, dated the
known as Trust Number 5000319
4, The land referred to in th is policy is described as follows:
SEE CONTINUATION SHEET ATTACHED HERETO
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Page 2
~TE'\..\HT TITLE
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SCHEDULE B
Policy No.: 62586
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 disclo.sed 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. Commu nity 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 Stat~s G?~~rnme~~ or water rights, if any.
7. Reservations contained in Patent from' the United ~tates of America or State where the land
described in Schedule A is located:~\'-'''~ .,<~--:-,,::,"'.'. ',:: "",'"
..s. Restrictive Covenants affecting:~lie property described'ln' Scheduie A.
n . . -....- - - ...~.. - ........ -......, '.'~' ..
9. Taxes for the year 1976 and thereafter.
-10. Mineral and Oil Rights reserved unto A.E. Goudy by Instrument
dated August 31, 1950, recorded October 23, 1950, in Deed Book 1597
on page 214 of the Public'Records of Hillsborough County, Florida,
and said rights thereafter conveyed by Quit Claim Deed to George A.
Betroe by Instrument recorded in Deed Book 1638 on page 326 of the
,Public Records aforesaid. (Affects the W~ of the NW~ of the SE\
and the w!s of the NE1.4 of the NW~ o.f the ~SE~ .of .s.p.rt-iCln~ T.nwn<::hin
27 South, Range 17 East.)
11. Easement for Drainage Canal granted to County of Hillsborough
for the use and benefit of the Road Department of Hillsborough County,
Florida, by Instrument recorded July 5, 1960, in Official Record Book
458 on page 229 of the Public Records of Hillsborough County, Florida.
12. Oil and Mineral rights reserved unto Gretchen K. Muldowney and
Hugh C. Muldowney, her husband, and Clementine K. Bock, a widow, by
Instrument recorded october 20, 1959, in Official Record Book 386
on pag.e 747 of the Public Records of Hillsborough County, Florida.
(Affects the N~ of the SW~ of the SE~ and the SW~ of the SW~ of
the SE~ of section 19, Township,:27r ,South, Range 17 East.)
SEE CONTINUATION SHEET ATTACHED HERETO
Page 3
ST E'\',\.I':'T TITLE
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Attached to and made a pJt of Stewart Title GUClranty'Company Policy No.
62586
Continuation of Schedule A, Item 4:
That part of the East Half of Section 19, Township 27 South, Range
17 East', Hi1lsborough County, Florida, lying East of the center line
of Patterson Road; Less and Except, the North Half of the Northeast
Quarter of the Northeast Quarter of the Southeast Quarter of said
Section 19; subject to platted rishts of way by Keystone Park Colony,
Plat Book 5, page 55, Public Records of Hi11sborough County, Florida.
AND
Beginning at the Northwest corner of Section 20, Township 27 South,
Range 17 East, Hi11sborough County, Florida, run thence North 890
50154" East for 1307.14 feet to the Northeast corner of the North-
west Quarter of the Northwest Quarter of said Section 20; thence
South 0023122'1 East for 637.68 feet to the Southeast corner of the
Northeast Quarter of the Northwest Quarter of the Northwest Quarter
of said Section 20; thence North 89059151" East for 654.07 feet to
the Northeast corner of the Southwest Quarter of the Northeast
Quarter of the Northwest Quarter of said Section 20; thence South
0026100" East for 1279.56 feet to the Northeast corner of the South-
west Quarter of the Southeast Quarter of the Northwest Quarter of
said Section 20; thence North 89039196'1 West, along the North boundary
of said Southwest Quarter of the Southeast Quarter of the Northwest
Quarter for 297 feet; thence South 25011138J1 East for 709.05 feet to
the Southeast corner of the Southwest Quarter of the Southeast Quar-
ter of the Northwest Quarter of said Section 20; thence South 00211
12" East for 661 feet to the Northeast corner of the Southwest Quar-
ter of the Northeast Quarter of the Southwest Quarter of said Section
20' thence N,.........th J3.902R 1 C;C;J1 TA1~c:t- .::> 1 ^nr. 2-h~ ~':":;._~ ..'1.. -- - ~- ~~ ~,:~:;;;
I ~ _ - _ ~,~-- - . J - --- -- ----..----:r --..r'-;a., ~.....-:a.;,""
Southwest Quarter of th~ Northeast Quarter of the Southwest Quarter
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for 257.88 feet; thence South 0 13147Jl East for 661 feet to the
South boundary of said Southwest Quarter of the Northeast Quarter
of the Southwest Quarter; thence South 9036111" West for 1338.66
feet to the South boundary of said Section 20; thence North 890
29113" West for 1493.11 feet to the Southwest corner of said Section
20; thence North 0001100" East for 2644 feet to the Quarter Section
corner on the West boundary of said Section 20; thence North 00
18104" West for 2535.70 feet to the Point of Beginning..
AND
The North Half of the Northeast Quarter of the Northeast Quarter
of the Southeast Quarter of Section 19, Township 27 South, Range
17 East, Hi11sborough County, Florida.
Page -..!...
~TE'\',\.l~T TITLE
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Attached to and made a pal of Stewart Title Guaranty Company pJCY No. 62586
Continuation of Schedule A, Item No. 1 NAME OF INSURED:
CITY NATIONAL BANK OF MLAMI, MIAMI, FLORIDA, a national
banking corporation organized under the laws of the United
States, and duly authorized to accept and execute trusts
within the State of Florida, as trustee under the pro- .
visions of a certain Trust Agreement, dated the 26th day
of March, 1976, and known as Trust Number 5000319
CONTINUATION OF SCHEDULE B: .
Item 13. oil, Gas and Mineral Lease executed by P.L. Heath
to R.E. Skinner by Instrument recorded May 17, 1944, in Deed
Book 1277 on page 409 of the Public Records of Hillsborough
County, Florida. (Affects various lands in Section 19, Town-
ship 27 Southl Range 17 East.)
-Item 14. platted rights-of~ay as shown on Plat of Keystone
Park Colony, recorded in Plat Book 5 on page 55 of the Public
Records of Hillsborough County, Florida.
Item 15. Mortgage executed by Edward Gossett and wife, Lucille
13. Gossett to wrTbur W. Leavine and wife, Anna Leavine, dated
June 5, 1969, recorded JUlie 5, 1969, in Official Record Book 2040
on page 939 of the Public Records of Hillsborough County, Florida:
given to secure an indebtedness in the amount of $174,540.00:
thereafter assigned to and now held by Starbright Management
Company, Ltd., a Florida Limited Partnership, by Assignment of
Mortgage recorded March 31, 1976, in Official Record Book 3106
on page 497 of the Public Records of Hillsborough County, Florida.
Item 16. Mortgage executed by Green Acres, a Florida Co-
Partnership to Edward Gossett and wife, Lucille B. Gossett,
dated June 29, 1973, recorded July 2, 1973, in Official Record
Book 2704 on page 128 of the Public Records of Hillsborough
County, Florida; given to secure an indebtedness in the amount
of $741,380.50i thereafter assigned to Preferred Developers
Corporation, a Minnesota Corporation d/b/a Quality Development
Corporation of Florida, by Assignment of Mortgage recorded Oct-
ober 17, 1974, in Official Record Book 2961 on page 615 of the
Public Records of Hi11sborough County, Florida.
Page -L
~TE'\'.\.H.T TITI.E
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I CONDITIONS AND STIPULATIONS'
which mi\lht cau~c 10<,5 Or c1i1rll;I\Je fOI which the Com['lany
may he liahle I>V virtue 01 this policy. If such rrompt notice
5hall 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 ['lrp.juclice the I iyh ts of any such insu red
under this policy unless the Company shall be prejudiced
by such failure and then only to the extent of such
prejud ice.
.. ".
1,' DEFINITION OF TERMS
The following terms when LJ:,ed in this policy mean:
(a) "insurep": the insured nilmed in Schedule A, and,
subject to any rights of defenses the Company may have
had 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-
trihutees, devisees, survivors, personal representatives, next.
of kin, or corporate or fiduciary successors.
(b) "insured claimant": an insured claiming loss or
damage hereunder.
lc) "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
reference in Schedule A, and improvements affixed thereto
which by Jaw constitute real property; ['lrovided, however,
the term "land" does not include any property beyo~d 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.
Ie) "mortgage": rnortgage, deed of trust, trust deed, or
other security instrument.
If) "public records": those records which by law
impart constructive notice of matters relating to said land.
2. CONTINUATION OF INSURANCE AFTER CON-
VEY ANCE 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 conve'lance 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
ilgainst such insured to the extent that such litigation is
founded upon an alleged defect, lien, encumbrance, or
other matter insured against by this ['lolicy.
(b) The insured shall notify thp. Com[1ony pi omptly in
writing (i) in case any action or proceeding is begun as set
forth in (a) above, (ii) in case knowledge shall come to an
insured hereunder of any claim of title or interest which is
adverse to the title to the estate or interest as insured, and
lc) The Company shi;1I hilve the right at its own cost to
institute and without undue delay [1lOsecu.te any ilction or
proceeding or do any other act which in its opinion may be
necessary 'or desirable to estahlish the title to the estate or
interest as insured, and the Company may take any
appropriate action under the terms 01 this policy, whether
or not it shilll be liable thereunder, <lnd shall not thereby
concede liability or \\'<livp. any plovi~ion of this policy.
ld) Whenever the Company ~hall have brought any
action or interposed a defense as required or permitted by
the provisions of this policy, the Company may pursue any
such I itigation to final rletP.rmination by Cl court of
competent jurisdiction and expressly reserves the right, in
it~ sole discretion, to ap['leal from any adverse judgment or
order.
Ie) I n all CilSP.S where this policy pcrmits or requires
the Company to prosecute or provide for the defense of
any action or proceeding, the insllred heleunder shall secure
to the Company the ri~ht to so proseClJte or provide
defense in such action or pl'urc,~din9, ,1I1U all ilppeals
therein, and permit the Cornpnny to lI~C, at its option, the
name of such insured for such l'lH['losr. Whenever reCluested
by the Company, such insured shall give the Company all
reas.onabuLaid in..~J ~~~ ~ti.CU1.-.Or :u-~~~.-.- ;_. ___lL-.....;
settlement, securing evidence, obtaining witnesses, or pros'
ecuting or defending sllch 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 rpquired under par<lgraph
3(b) of these Conditions <,nd Stipulations, a statement in
writing of any loss or rlam<Jfle for which it is claimed the
Company is liable under this policy shall be furnished to
the Company within aD days aller such loss or damage shall
have been determined and no right of action shall <Iccrue to
an insured claimont until 30 dilYs after such statement shall
have been furnished. Failure to fu rnish such statement of
loss or damage shall terminate any liilbility of the Company
under this policy as to such loss or damage.
5. OPTIONS TO PAY OR OTHERWISE SETTLE
CLAIMS
The Company sh<J11 hilve lIw opllon to pny or othl'lwise
settle for or in the name of ;111 in!,IIIrd daimant i;ny claim
insured agiJinst or to tCIIl,indiC dll li;lj.jlily ,md ohligiltions
of the Company hnCIII1t!r:1 hy 1,1;,;y\l1~ 01 1cnrlcI ing pilYl1lCnt
of the amount of insurance under this policy together with
any costs, attorneys' lees and expenses incurred up to the
time of such payment or t~ndel of pil",ment, by the insured
claimant and au thoriled by the CompJIlY.
@ltinued and cO(lcluded ?n last paye of this p()~
. ,
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("ONDITIONS .a;ND SllPULA TIONS Contine
(cltinuedand concluded from reverse side of Policy Face)
6. DETERMINATION AND PA YMENT OF LOSS
(a) The liability of the Company under this policy
shall in no case exceed the least of:
(j) the actual loss of the insured claimant; or
(ii) the amount of insurance stated in Schedule A.
(b) The Company will pay, in addition to any loss
insured against by this policy, all costs imposed upon an
insured in litigation carried on by the Company for such
insured, and all costs, attorneys' fees <Jnel expenses in
litigation .carried on by such insured with the written
authorization of ~he Company.
.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 encllmlJr;lnce insured ilgainst
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 notice; (b) in
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 paym'ents 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
~-c:pcryTrn::m ;,~;::~~'=ti-re1JUlicy-:OeloSl or aesuoyea. 10
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
Comp;my 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, 3nd 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 mor1!J<lges 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 insu red owner.
10. APPORTIONMENT
I f the land described in Scheelu Ie A consists of 1wo 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.
if the iJmount of insurance IIlldel this policy was divided
pro rata as to the value on Date of Policy of each separate
parcel to the whole, exclusive of any improvements made
subsequent to Dilte of Policy, unless a liilbility or value has
otherwise been agl eed upon as to eilch ~uch parcel by the
Company and the insured at the time of the issuance of this
policy and shown by an explcss statemcnt herein or by an
endorsement attached hereto.
11. SUBROGATION UPON PAYMENT OR SETTLE.
MENT
Whenever the COlllpLiny shull have ~ettled a claim under
this policy, all right of subrogation ,sh'all liest in the
Company unaffected by any act of the insured 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
c1<lim had Ihis policy Ilot 1'('I~1l i';~IIl~d, itlld if requesled by
the Company, such illsured cl<limant 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 insLlI ed 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 ~uch insured claimant, such
act shall not void this policy, but the Company, in that
event, shall be requ ired 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 il,'pairment of
the right of subrog<ltion
12. LIABILITY LIMITED TO THIS POLICY
1 nls Iflsuument togetl1l!1 Wltll all endorsements and
other instruments, if any, <ltt<lched hereto by the CLmpc:ny
is the entire policy and contract uetween the insured and
the Company.
Any claim of loss or dilmage, 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 stiJlulations of this policy.
No amendment of or endOlsCllll:llt 10 this policy can he
milde except by Wllll1lg cnclul sed hl!1 COil 01 attached ilereto
signed by either the Pre~irient, a Vice President, the
Secretary, an Assi~tilllt SeClctilry, 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 requ ired to be fu rnished the Company
shall be addressed to it at its main office. P O. Box 2029,
Houston. Texas 77001.
14. The premium specified il: S.;lwdlJie A is the entire
charge for uccept,mce of li~k. It incl:,des chal~('s fOI
title search and ex;;mina:ion if same is customilry or
required to be shown in the stiilE' in \':hich the policy is
issued.
~ T I': V~'. \. 1':' T TIT L E
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hc'.u. PG' U
<That part of the East Half of section 19, Township 27 South, Range
17 East;, Hi11sborough County, Florida, lying East of the center line
of Patterson Road; Less and Except, the North Half ?~:the Northeast
Quarter of the Northeast Quarter of the Southeast Quarter of said
Section 19; subject to platted rights of way by Keystone Park Colony,
Plat Book 5, page 55, Public Records of Hi11sborough County, Florida.
AND
Beginning at the Northwest corner of Section 20, Township 27 Southl
Range 17 East, Hi11sborough County, Florida, run thence North 890
50' 54 /lEas tfor 1307 .14 feet ., to the Northeast corner of the North-
west Quarter of the Northwest Quarter of said Section 20; thence
South 002312211 East for 637.68 feet to the Southeast corner of the
Northeast Quarter of the Northwest Quarter of the Northwest Quarter
of said, Section 20; thence North 89059151" East for 654.07 feet to
the Northeast corner of the Southwest Quarter of the Northeast
Quarter of the Northwest Quarter of said Section 20; thence South
0026100" East for 1279.56 feet to the Northeast corner of the South-
west Quarter of the Southeast Quarter of the Northwest Quarter of
said Section 20; thence North 89039196" West, along the North boundary
of said Southwest Quarter of the Southeast Quarter of the Northwest
Quarter for 297 feet; thence South 2501113811 East for 709.05 feet to
the Southeast corner of the Southwest Quarter of the Southeast Quar-
ter of the Northwest Quarter of said Section 20; thence South 00211
1211 East for 661 feet to the Northeast corner of the Southwest Quar-
ter of ,the Northeast Quarter of the Southwest Quarter of said section
20; thence North 8902815511 West along the North boundary of said
Southwest Quarter of the Northeast Quarter of the Southwest Quarter
for 257.88 feet; thence South 001314711 East for 661 feet to the '
South boundary of said Southwest Quarter of the Northeast Quarter
of the Southwest Quarter; thence South 9036111" West for 1338.66
feet to the South boundary of said Section 20; thence North 890
29113" West for 1493.11 feet to the Southwest corner of said Section
20; thence North 000110011 East for 2644 feet to the Quarter Section
corner on the West boundary of said Section 20; thence North 00
1810411 West for 2535.70 feet to the point of Beginning.
AND
The North Half of the Northeast Quarter of the Northeast Quarter
of the Southeast Quarter of Section 19, Township 27 South, Range
17 East, Hi11sborough County, Florida.
E X H I BIT "A"
1514