M.N.E.K. INCr
i?
Prepared by and hold for:
Bankers Title/Lynn Hoffstetter
509 South Martin Luther King Jr. Ave., Suite A
Clearwater, Florida 33756
H Number: 09100175
S/P.?? ? x/5,5 pda. 0 0
W
KEN BURKE, CLERK OF COURT
PINELLAS COUNTY FLORIDA
INST# 2010346153 1210912010 at 03:54 PM
OFF REC BK: 17111 PG: 1553-1555
DmType:DEED RECORDING: $27.00
D DOC STAMP: $11725.00
WARRANTY DEED
THIS INDENTURE made this 9 day of December, 2010 BETWEEN M.N.E.K., Inc., a
Florida corporation, of the County of Pinellas, State of Florida, Grantor, and The Community
Redevelopment Agency of the City of Clearwater, Florida, of the County of Pinellas, State of
Florida, Grantee, whose address is: C/0 Engineering Department, 100 S. Myrtle Ave, 1/220
Clearwater, FL 33756-5520
WITNESSETH, That said Grantor, for and in consideration of the sum of Ten and No/100
Dollars and other good and valuable considerations to said grantor in hand paid by said grantee,
the receipt whereof is hereby acknowledged, has granted, bargained and sold to the said grantee,
and grantee's heirs and assigns forever, the following described land, situate, lying and being in
Pinellas County, Florida, to wit:
SEE EXHIBIT 'A' ATTACHED HERETO AND MADE APART HEREOF BY REFERENCE
SUBJECT TO easements, restrictions and reservations of record.
And the grantor hereby covenants with said, grantee that the grantor is lawfully seized of said
land in fee simple; that the grantor has good right and lawful authority to sell and convey said
land; that the grantor hereby fully warrants the title to said land and will defend the same against
the lawful claims of all persons whomsoever.
IN WITNESS WHEREOF, Grantor has hereunto set Grantors hand and seal the day and year first
above written.
Signed, sealed & delivered
in the pr s ce of:
A
i
VVitne /
Print Name:
M.N. ., Inc., A Florida Corporation
C
B `-
Maria A. Dedrick President
Address: 1274 Cleveland Street
Clearwater, FL 33755
Vn ss
Print Name:
Page 1 of 3
A• i
Y
STATE OF FLORIDA / COUNTY OF PINELLAS
I HEREBY CERTIFY that on this O day of December, 2010 before me, an officer duly
qualified to take acknowledgements, appeared Maria A. Dedrick, President of M.N.E.K., Inc., a
Florida corporation, who is/are personally known by me; or who has/ha produced
;who
identification attesting to Affiant's identity, to wit 't S /0
executed the foregoing instrument and acknowledged b fore me the exe ution of the same.
WITNESS my hand and official seal in the County and State last aforesaid this 7
Day of December, 2010.
f
No ary ublic - Signature
Name:
My commission expires: //S?'•?.,GG?,.??,?{W{,,A,,?T,,,O(nmia31Vl l WATTS
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Z-. # DE) • ??jpp6232
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Page 2 of 3
EXHIBIT 'A'
The West 100 feet of Lot 19, The Padgett Estate Subdivision, according to the map or plat
thereof, as recorded in Plat Book 4, Page 11, Public Records of Pinellas County, Florida;
And
Lot 18, and the East 108.5 feet of Lot 19, Less the East 20 feet of Lot 18, and the South 20 feet of
Lots 18 and 19, previously dedicated for road right-of-way purposes, of The Padgett Estate
Subdivision, according to the map or plat thereof, as recorded in Plat Book 4, Page 11, Public
Records of Pinellas County, Florida;
And
Lots 28, 29, 30 and 31, Re-Subdivision Lots 11, 12, 13, 14 & 15 Padgett's Estate, according to
the map or plat thereof, as recorded in Plat Book 12, Page 24, Public Records of Pinellas County,
Florida.
Parcel ID Numbers:
15/29/15/652 86/000/0180
15/29/15/6 52 86/000/0190
15/29/15/65286/000/0191
15/29/ 15/58788/000/0280
15/29/15/58788/000/0290
15/29/15/58788/000/0310
Page 3 of 3
AMERICAN LAND TITLE ASSOCIATION
OWNER'S POLICY
(10-17--92)
Policy No. FL6268-48-09100175-2011.7410609-82683275
CHICAGO TITLE INSURANCE COMPANY
SUBJECT TO THE EXCLUSIONS FROM COVERAGE, THE EXCEPTIONS FROM COVERAGE CONTAINED IN
SCHEDULE B AND THE CONDITIONS, AND STIPULATIONS, CHICAGO TITLE INSURANCE COMPANY, a Nebraska
corporation, herein 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, sustained or incurred by the insured by reason of:
1. Title to the estate or interest described in Schedule A being vested other than as stated therein;
2. Any defect in or lien or encumbrance on the title;
3. Unmarketability of the title;
4. Lack of a right of access to and from the land.
The Company will also pay the costs, attorneys' fees and expenses incurred in defense of the title, as insured, but only to the
extent provided in the Conditions and Stipulations.
In Witness Whereof, CHICAGO TITLE INSURANCE COMPANY has caused this policy to be signed and sealed as of Date of
Policy shown in Schedule A, the policy to become valid when countersigned by an authorized signatory.
CHICAGO TITLE INSURANCE COMPANY
FL6268 09100175
Bankers Title
509 S Martin Luther King Jr. Ave #A
Clearwater, FL 33756
Tel:(727) 442-3300
Fax:(727) 465-9593
at:
ATTEST PreF?dgnt
Secretary
4uv-
Authorized Signature
MARC A.B. SILVERMAN
Reorder Form No. 8218 (Reprinted 10/00) (7210609) ALTA Owner's Policy (10-17-92) with Florida Modifications
1
p Chicago Title Insurance Company
Policy of Title Insurance
Chicago Title Insurance Company
Schedule A
Order Number: 3273535 Policy Number: 7410609-82683275
Amount of Insurance: $1,675,000.00 Customer Reference: 09100175
Date of Policy: The date shown below or the date of recording of the instruments referred to in Item 3,
whichever is the later.
December 09, 2010 at 3:54 PM
Name of Insured
The Community Redevelopment Agency of the City of Clearwater, Florida, of the County of Pinellas,
State of Florida
2. The estate or interest in the land described herein and which is covered by this policy is:
Fee Simple
3. Title to the estate or interest in the land is vested in:
The Community Redevelopment Agency of the City of Clearwater, Florida, of the County of Pinellas,
State of Florida
4. The land referred to in this policy is described in the said instrument and identified as follows:
See attached Exhibit A for legal description
Bankers Title
509 South Martin Luther King Jr. Ave., Suite 1
Clearwater, FL 33756
This policy is invalid unless a cover sheet and Schedule B are attached.
1992 ALTA Owner's Policy w/FL modifications
Order No.: 3273535
Policy No.: 7410609-82683275
Exhibit A
The West 100 feet of Lot 19, The Padgett Estate Subdivision, according to the map or plat thereof, as
recorded in Plat Book 4, Page 11, Public Records of Pinellas County, Florida;
And
Lot 18, and the East 108.5 feet of Lot 19, Less the East 20 feet of Lot 18, and the South 20 feet of Lots 18
and 19, previously dedicated for road right-of-way purposes, of The Padgett Estate Subdivision, according
to the map or plat thereof, as recorded in Plat Book 4, Page 11, Public Records of Pinellas County, Florida;
And
Lots 28, 29, 30 and 31, Re-Subdivision Lots 11, 12, 13, 14 & 15 Padgett's Estate, according to the map or
plat thereof, as recorded in Plat Book 12, Page 24, Public Records of Pinellas County, Florida.
1992 ALTA Owner's Policy w/FL modifications
Order No.: 3273535
Policy No.: 7410609-82683275
Schedule B
This policy does not insure against loss or damage (and the Company will not pay costs, attorneys' fees or
expenses) which arise by reason of:
1. All matters as shown on the survey prepared by Zarra, Boyd, Inc., including and without limitation:
concrete and asphalt driveways, concrete block walls and concrete sidewalks encroach over all 4
property lines.
NOTE: All recording references in this commitment/policy shall refer to the public records of Pinellas
County, Florida, unless otherwise noted.
NOTE: In accordance with Florida Statutes section 627.4131, please be advised that the insured
hereunder may present inquiries, obtain information about coverage, or receive assistance in resolving
complaints, by contacting the Chicago Title Insurance Company 601 Riverside Avenue, Jacksonville, FL
32204 Telephone 1-888-934-3354.
1992 ALTA Owner's Policy w/FL modifications
EXCLUSIONS FROM COVERAGE
The following matters are expressly excluded from the coverage of this policy and the Company will not pay loss or damage,
costs, attorneys' fees or expenses which arise by reason of:
1. (a) Any law, ordinance or governmental regulation (including but not limited to building and zoning laws, ordinances, or
regulations) restricting, regulating, prohibiting or relating to (i) the occupancy, use, or enjoyment of the land; (ii) the
character, dimensions or location of any improvement now or hereafter erected on the land; (iii) a separation in
ownership or a change in the dimensions or area of the land or any parcel of which the land is or was a part; or (iv)
environmental protection, or the effect of any violation of these laws, ordinances or governmental regulations, except
to the extent that a notice of the enforcement thereof or a notice of a defect, lien or encumbrance resulting from a
violation or alleged violation affecting the land has been recorded in the public records at Date of Policy.;
(b) Any governmental police power not excluded by (a) above, except to the extent that a notice of the exercise thereof
or a notice of a defect, lien or encumbrance resulting from a violation or alleged violation affecting the land has been
recorded in the public records at Date of Policy.
2. Rights of eminent domain unless notice of the exercise thereof has been recorded in the public records at Date of Policy,
but not excluding from coverage any taking which has occurred prior to Date of Policy which would be binding on the
rights of a purchaser for value without knowledge.
3. Defects, liens, encumbrances, adverse claims or other matters;
(a) created, suffered, assumed or agreed to by the insured claimant;
(b) not known to the Company, not recorded in the public records at Date of Policy, but known to the insured claimant
and not disclosed in writing to the Company by the insured claimant prior to the date the insured claimant became an
Insured under this policy;
(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. Any claim, which arises out of the transaction vesting in the insured the estate or Interest insured by this policy, by
reason of the operation of federal bankruptcy, state insolvency, or similar creditors' rights laws, that is based on:
(i) the transaction creating the estate or interest insured by this policy being deemed a fraudulent conveyance or
fraudulent transfer; or
(ii) the transaction creating the estate or interest insured by this policy being deemed a preferential transfer except
where the preferential transfer results from the failure:
(a) to timely record the Instrument of transfer; or
(b) of such recordation to impart notice to a purchaser for value or a judgment or lien creditor.
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 would have had against the named insured, those who
succeed to the interest of the named insured by operation of law as distinguished
from purchase including, but not limited to, heirs, distributees, devisees, survivors,
personal representatives, next of kin, or corporate or fiduciary successors,
(b) "insured claimant": an insured claiming loss or damage.
(c) "knowledge" or "known": actual knowledge, not constructive knowledge
or notice which may be imputed to an insured by reason of the public records as
defined in this policy or any other records which impart constructive notice of
matters affecting the land.
(d) "land": the land described, or referred to in Schedule A, and im-
provements affixed thereto which by law constitute real property. The term "land"
does not include any property beyond the lines of the area 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.
(1) "public records": records established under state statutes at Date of
Policy for the purpose of imparting constructive notice of matters relating to real
property to purchasers for value and without knowledge. With respect to Section
I(a)(iv) of the Exclusions From Coverage, "public records" shall also include
environmental protection liens filed in the records of the clerk of the United States
district court for the district in which the land is located.
(g) 'unmarketability of the title': an alleged or apparent matter affecting the
title to the land, not excluded or excepted from coverage, which would entitle a
purchaser of the estate or interest described in Schedule A to be released from
the obligation to purchase by virtue of a contractual condition requiring the delivery
of marketable title.
2. CONTINUATION OF INSURANCE AFTER CONVEYANCE OF TITLE
The coverage of this policy shall continue in force as of Date of Policy in
favor of an insured only so long as the insured retains an estate or interest in the
land, or holds an indebtedness secured by a purchase money mortgage given by
a purchaser from the Insured, or only so long as the insured shall have Ilability by
reason of covenants of warranty made by the insured in any transfer or
conveyance of the estate or interest. This policy shall not continue in force in
favor of any purchaser from the insured of either (i) an estate or interest in the
land, or (ii) an indebtedness secured by a purchase money mortgage given to the
insured.
3. NOTICE OF CLAIM TO BE GIVEN BY INSURED CLAIMANT
The insured shall notify the Company promptly in writing (i) in case or any
litigation as set forth in Section 4(a) below, (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 which might cause loss or damage for which the
Company may be liable by virtue of this policy, or (iii) if title to the estate or
interest, as insured, is rejected as unmarketable. If prompt notice shall not be
given to the Company, then as to the insured all liability of the Company shall
terminate with regard to the matter or matters for which prompt notice is required;
provided, however, that failure to notify the Company shall in no case prejudice
the rights of any insured under this policy unless the Company shall be prejudiced
by the failure and then only to the extent of the prejudice.
4. DEFENSE AND PROSECUTION OF ACTIONS: DUTY OF INSURED
CLAIMANT TO COOPERATE.
(a )Upon written request by the insured and subject to the options
contained in Section 6 of these Conditions and Stipulations, the Company, at its
own cost and without unreasonable delay, shall provide for the defense of an
insured in litigation in which any third party asserts a claim adverse to the title or
interest as insured, but only as to those stated causes of action alleging a defect,
lien or encumbrance or other matter insured against by this policy. The Company
shall have the right to select counsel of its own choice (subject to the right of the
insured to object for reasonable cause) to represent the insured as to those stated
causes of action and shall not be liable for and will not pay the fees of any other
counsel. The Company will not pay any fees, costs or expenses incurred by the
insured in the defense of those causes of action which allege matters not insured
against by this policy.
(b)The Company shall have the right, at its own cost, to institute and
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,
or to prevent or reduce loss or damage to the insured. The Company may take
any appropriate action under the terms of this policy, whether or not it shall be
liable hereunder, and shall not thereby concede liability or waive any provision of
this policy. If the Company, shall exercise its rights under this paragraph, it shall
do so diligently.
(c) Whenever the company shall have brought an action or interposed a
defense as required or permitted by the provisions of this policy, the Company
may pursue any 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.
(d) 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 shall
secure to the Company the right to so prosecute or provide defense in the action
or proceeding, and all appeals therein and permit the Company to use, at its
option, the name of the insured for this purpose. Whenever requested by the
Company, the insured, at the Company's expense, shall give the Company all
reasonable aid (i) in any action or proceeding, securing evidence, obtaining
witnesses, prosecuting or defending the action or proceeding, or effecting
settlement, and (ii) in any other lawful act which in the opinion of the Company
may be necessary or desirable to establish the title to the estate or interest as
insured. If the Company is prejudiced by the failure of the insured to furnish the
required cooperation, the Company's obligations to the insured under the policy
shall terminate, including any liability or obligation to defend, prosecute, or
continue any litigation, with regard to the matter or matters requiring such
cooperation.
5. PROOF OF LOSS OR DAMAGE
In addition to and after the notices required under Section 3 of these
Conditions and Stipulations have been provided the Company, a proof of loss or
damage signed and swom to by the Insured claimant shall be furnished to the
Company within 90 days after the insured claimant shall ascertain the facts giving
rise to the loss or damage. The proof of loss or damage shall describe the defect
in, or lien or encumbrance on the title, or other matter insured against by this
policy which constitutes the basis of loss or damage and shall state, to the extent
possible, the basis of calculating the amount of the loss or damage. If the
Company Is prejudiced by the failure of the Insured claimant to provide the
required proof of loss or damage, the Company's obligations to the insured under
the policy shall terminate, including any liability or obligation to defend, prosecute,
or continue any litigation, with regard to the matter or matters requiring such proof
of loss or damage.
In addition, the Insured claimant may reasonably be required to submit to
examination under oath by any authorized representative of the Company and
shall produce for examination, inspection and copying, at such reasonable times
and places as may be designated by any authorized representative of the
Company, all records, books, ledgers, checks, correspondence and memoranda,
whether bearing a date before or after Date of Policy, which reasonably pertain to
the loss or damage. Further, if requested by any authorized representative of the
Company, the insured claimant shall grant its permission, in writing, for any
authorized representative of the Company to examine, inspect and copy all
records, books, ledgers, checks, correspondence and memoranda in the custody
or control of a third party, which reasonably pertain to the loss or damage. All
information designated as confidential by the insured claimant provided to the
company pursuant to this Section shall not be disclosed to others unless, in the
reasonable judgment of the Company, it is necessary in the administration of the
claim. Failure of the insured claimant to submit for examination under oath,
produce other reasonably requested information or grant permission to secure
reasonably necessary information from third parties as required in the above
paragraph, unless prohibited by law or governmental regulation, shall terminate
any liability of the Company under this policy as to that claim.
6. OPTIONS TO PAY OR OTHERWISE SETTLE CLAIMS: TERMINATION OF
LIABILITY.
In case of a claim under this policy, the Company shall have the following
additional options:
(a) To Pay or Tender Payment of the Amount of Insurance.
To pay or tender payment of the amount of insurance under this policy
together with any costs, attorneys' fees and expenses incurred by the insured
claimant, which were authorized by the Company, up to the time of payment or
tender of payment and which the Company is obligated to pay.
Upon the exercise by the Company of this option, all liability and obligations
to the insured under this policy, other than to make the payment required, shall
terminate, including any liability or obligation to defend, prosecute, or continue any
litigation, and the policy shall be surrendered to the Company for cancellation.
(b) To Pay or Otherwise Settle With Parties Other than the Insured or
With the Insured Claimant.
(i) to pay or otherwise settle with other parties for or in the name of an
insured claimant any claim insured against under this policy, together with any
costs, attorneys' fees and expenses Incurred by the insured claimant which were
authorized by the Company up to the time of payment and which the Company is
obligated to pay; or
(ii) to pay or otherwise settle with the insured claimant the loss or damage
provided for under this policy, together with any costs, attorneys' fees and
dxpenses incurred by the insured claimant which were authorized by the
Company up to the time of payment and which the Company is obligated to pay,
Upon the exercise by the Company of either of the options provided for in
paragraphs (b)(i) or (ii), the Company's obligations to the insured under this policy
for the claimed loss or damage, other than the payments required to be made,
shall terminate, including any liability or obligation to defend, prosecute or
continue any litigation.
7. DETERMINATION, EXTENT OF LIABILITY AND COINSURANCE.
This policy is a contract of indemnity against actual monetary loss or damage
sustained or incurred by the insured claimant who has suffered loss or damage by
reason of matters insured against by this policy and only to the extent herein
described.
(a) The liability of the Company under this policy shall not exceed the least
of: (i) the Amount of Insurance stated in Schedule A; or
(ii) the difference between the value of the insured estate or interest as
insured and the value of the insured estate or interest subject to the defect, lien or
encumbrance insured against by this policy.
(b) This paragraph removed in Florida policies.
(c) The Company will pay only those costs, attorney's fees and expenses
incurred in accordance with Section 4 of these Conditions and Stipulations.
8. 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 the
parcels but not all, the loss shall be computed and settled on a pro rata basis as if
the amount of insurance under 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 Date of Policy, unless a liability or value has
otherwise been agreed upon as to each parcel by the Company and the insured at
the time of the issuance of this policy and shown by an express statement or by
an endorsement attached to this policy.
9. LIMITATION OF LIABILITY.
(a) If the Company establishes the title, or removes the alleged defect, lien
or encumbrance, or cures the lack of a right of access to or from the land, or cures
the claim or unmarketability of title or otherwise establishes the lien of the insured
mortgage, all as insured, in a reasonably diligent manner by any method, including
litigation and the completion of any appeals therefrom, it shall have fully performed
its obligations with respect to that matter and shall not be liable for any loss or
damage caused thereby.
(b) In the event of any litigation, including litigation by the Company or with
the Company's consent, the Company shall have no liability for loss or damage
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.
(c) The Company shall not be liable for loss or damage to any insured for
liability voluntarily assumed by the insured in settling any claim or suit without the
prior written consent of the Company.
10. REDUCTION OF INSURANCE; REDUCTION OR TERMINATION 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.
11. 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
a mortgage to which exception is taken in Schedule B or to which the insured has
agreed, assumed, or taken subject, or which is hereafter executed by an insured
and 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
to the Insured owner.
12. PAYMENT OF LOSS.
(a) No payment shall be made without producing this policy for
endorsement of the payment unless the policy has been lost or de-
stroyed, in which case proof of loss or destruction shall be furnished to
the satisfaction of the Company.
(b) When liability and the extent of loss or damage has been definitely
fixed in accordance with these Conditions and Stipulations, the loss or
damage shall be payable within 30 days thereafter.
13. SUBROGATION UPON PAYMENT OR SETTLEMENT.
(a) The Company's Right of Subrogation.
Whenever the Company shall have settled and paid a claim under this
policy, all right of subrogation shall vest 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 the insured claimant would have had against any person or
property in respect to the claim had this policy not been issued. If requested by
the Company, the insured claimant shall transfer to the Company all rights and
remedies against any person or property necessary in order to perfect this right of
subrogation. The insured claimant shall permit the Company to sue, compromise
or settle in the name of the insured claimant and to use the name of the insured
claimant in any transaction or litigation involving these rights or remedies.
If a payment on account of a claim does not fully cover the loss of the
insured claimant, the Company shall be subrogated to these rights and remedies
in the proportion which the Company's payment bears to the whole amount of the
loss.
If loss should result from any act of the insured claimant, as stated above,
that 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 by this policy which shall
exceed the amount, if any, lost to the Company by reason of the impairment by
the Insured claimant or the Company's right of subrogation.
(b) The Company's Rights Against Non-Insured Obligors,
The Company's right of subrogation against non-insured obligors shall exist
and shall include, without limitation, the rights of the insured to indemnities,
guaranties, other policies of insurance or bonds, notwithstanding any terms or
conditions contained in those instruments which provide for subrogation rights by
reason of this policy.
14. ARBITRATION,
Unless prohibited by applicable law, arbitration pursuant to the Title
Insurance Arbitration Rules of the American Arbitration Association may be
demanded if agreed to by both the company and the insured. Arbitrable matters
may include, but are not limited to, any controversy or claim between the
Company and the insured arising out of or relating to the policy, any service of the
Company in connection with its issuance or the breach of a policy provision or
other obligation. Arbitration pursuant to this policy and under the Rules in effect
on the date the demand for arbitration is made or, at the option of the insured, the
Rules in effect at Date of Policy shall be binding upon the parties. The award may
include attorneys' fees only If the laws of the state in which the land is located
permit a court to award attorneys' fees to a prevailing party. Judgment upon the
award rendered by the Arbitrator(s) may be entered in any court having jurisdiction
thereof.
The law of the situs of the land shall apply to an arbitration under the Title
Insurance Arbitration Rules.
A copy of the Rules may be obtained from the Company upon request.
15. LIABILITY LIMITED TO THIS POLICY; POLICY ENTIRE CONTRACT
(a) This policy together with all endorsements, if any, attached hereto by
the Company is the entire policy and contract between the Insured and the
Company. In interpreting any provision of this policy, this policy shall be
construed as a whole.
(b) 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
by any action asserting such claim, shall be restricted to this policy
(c) No amendment of or endorsement to this policy can be made except by
a writing endorsed hereon or attached hereto signed by either the President, a
Vice President, the Secretary, an Assistant Secretary, or validation officer or
authorized signatory of the Company.
16. SEVERIBILITY
In the event any provision of the policy is held invalid or unenforceable under
applicable law, the policy shall be deemed not to include that provision and all
other provisions shall remain in full force and effect.
17. NOTICES, WHERE SENT
All notices required to be given the Company and any statement in writing
required to be furnished the Company shall include the number of this policy and
shall be addressed to the Company at the Issuing office or to:
Claims Department
P.O. Box 45023
Jacksonville, FL 32232-5023
A. U. S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
SETTLEMENT STATEMENT
Bankers Title
+ 509 South Martin Luther King Jr. Ave.
Suite A
Clearwater, Florida 33756
727-442-3300 fax; 727-465-9593
B. TYPE OF LOAN
1. [] FHA 2. FMHA 3. CONV. UN1N5.
4, F-] VA S. CONY, INS.
6. File Number: 7. Loan Number:
09100175
8. Mortgage Ins. Case No.!
C. NOTE; This form is furnished to give yote a statement of actual settlement costs. Amounts paid to and by the settlement agent are shown. Items marked
(poc) were aid outside the closing They are shown here for informational purposes and are not included in the totals.
D. Buye'r• The Community Redevelopment Agency of the City of Clearwater, Florida _
E. Seller: M.N.E.K., Inc., a Florida corporation
F. Lender:
1273, 1277, 1274 Grove St.; S, Betty Lane;
G. Property: Clearwater, Pinellas County, Florida 33756
Lots in Padgett Estate Subdivision
H, Settlement Agent: Bankers Title
Place of Settlement: 509 South Martin Luther King Jr. Ave., Suite A, Clearwater, Florida 33756 Pinellas County:
1, Settlement Date: December 8, 2010
J. Summary of Buyer's Transaction K. Summary of Seller's Transaction
100.' Gross'''Amount Due From Buyer: . 400. Gross Amount Due To Seller:
101, Contract Sales Price 1,675,000.00 401. Contract Sales Price 1,675,000.00
102. Personal Property 402. Personal Pro pert
103. Settlement Charges to Buyer line 1400 527.00 403.
Adjustments for Items Paid b Seller in Advance: Adjustments for Items Paid b Seller in Advance:
106, City / Town Taxes 406. City / Town Taxes
107. Court / Parish Taxes 407. Court / Parish Taxes
108. Assessments 408. Assessments
120. Gross Amount Due from Buyer: 1,675,527.00 420. Gross Amount Due to Seller: 1,675,000.00
200: Amounts.P.aid,b or in Behalf of Buyer: 500. Reductions in Amount Due to Seller:
201, Deposit / Earnest Money 501. Excess Deposit see instructions)
202. Principal Amount of New Loan 502. Settlement Charges to Seller (Line 1400) 115,873.47
203. Existing Loan(s) 503_ Existing Loan(s)
204. 504. Payoff of First Mortgage to Synovus Bank of
Tampa Bay 557,546.34
205. _
505. Pa off of Second Mortgage
^
206. 506. Purchase Money Mortgage
Adjustments for Items Unpaid b Seller: I Adjustments for Items Unpaid b Seller:
210. City / Town Taxes 510. City/ Town Taxes
211. County / Parish Taxes 511. County / Parish Taxes
212. Assessments 512. Assessments
220. Total Paid b / for Buyer: 0.00 520. Total Reductions in Amount Due Seller: 673,419.81
300.: Cash at Settlement from / to Buyer: 600. Cash at Settlement to / from Seller:
301. Gross Amount due from Buyer line 120 1,675,527.00 601. Gross Amount due to Seller line 420) 1,675,000.00
302. Less Amount Paid by/for Buyer line 220 0,00 602, Less Reductions Amount due Seller (line 520 673,419,81
303. Cash From Buyer: $1,675,527.00 603. Cash To Seller: $1,001,580.19
I have carefully reviewed the HUD-I Settlement Statement and to the best of my knowledge and belief, it is a true and accurate statement of all receipts and
disbursements made on my account or by me in this transaction, I further certify that I have received a copy of FIUD-1 Settlement Statement.
The Community Redevelopme Agency of the City of Clearwater, M. K., Inc., a Florida corporation Buyer: Florida
r Seller: „`a?L
MARIA A. DEDRICK, President
EARL BARRETT
The HUD-I Settlement Statement which I have prepared is a true and accurate account of this transaction. I have caused or will cause the funds to be disbursed in
accordance with this statement.
Settlement Agent;
Date; December 8, 2010
WARNING: It is a crime to knowingly make false statements to the United States on this or any other similar form. Penalties upon conviction can include a fine or
imprisonment. For details see: Title 18 U.S. Code Section 1001 and Section 1010..
HUD-1 May 2007
December 7, 2010 3:36 PM
OMB No. 2502-0265
RESPA handbook 4305.2
..Settlement Date:December 8, 2010
File Number: 09100175
E, Settlement Charges
Total' Sales'/ Broker's Commission:
700 Paid from Paid from
.
000.00 @ 5.00% = $83,750.00
675
Based on Price $1 Buyer's Seller's
,
,
Division;'of Commission as follows:. Funds at Funds at
701. 41,875,00 to COMPLETE COMMERICAL REALTY Settlement Settlement
875.00 to COLLIERS ARNOLD
702. 41
,
703. Commission Paid at Settlement 83,750.00
800.JliemsTa able in Connection with Loan:' .
801, Loan Origination Fee
.802, Loan Discount
803. Appraisal Fee
804. Credit Re ort
805. Lender's Inspection Fee
806. Mortgage Insurance Application Fee
807. Assumption Fee
900.1 "Items Re' uired b 'Lender to be Paid in Advance:
901. Dail interest charge from Dec 8, 2010
902, Mortgage Insurance Premium
903. Hazard Insurance Premium
904, Flood Insurance Premium
1000. Reserves De osited with Lender.:
1001. Hazard Insurance
1002. Mortgage Insurance
1003. City Property Taxes
1004, County Pro erty Taxes
1005. Annual Assessments
1100..''T1tle Char es:
1101. Settlement or Closing Fee to Bankers Title 500.00 700,00
1102. Abstract or Title Search to Chicago Title Insurance Company 250,00
1103. Title Examination
1104, Title Insurance Binder
1105, Document Preparation
1106. Notary Fees
1107 Attorney Fees to Stephen G. Watts, P.A, 1'500.00
(includes above item numbers: _
1 108 Title Insurance to Chicago Title Insurance Company 6,762,50
(includes above item numbers:
1109. Lender's Coverage 0.00 -
1110, Owner's Coverage 1,675,000.00 Risk Rate Premium: $6,762.50
J1200 '1G'overnment Recording and Transfer Charges:
1201. Recording Fees: Deed 27.00 Mortgage 0.00 Releases 10.00 27,00 10.00
1202. City/County Tax/Stamps: Deed 0.00 Mortgage 0.00
1203. State Tax/Stamps: Deed 11,725.00 Mortgage 0.00 11,725.00
1204. Intangible Tax to Clerk of the Circuit Court
1205.
1300.:,' Additional Settlement Charges;
1301. Surve
1302. Pest Inspection
_
1303. Pay 2010 Real Estate Taxes 15-20-15-65286-000-0180 to Diane Nelson, Pinellas County Tax 6,066.99
Collector
1304, Pay 2010 Real Estate Taxes 15-29-15-65286-000-0190 to Diane Nelson, Pinellas County Tax 1,962 87
Collector
Pay 2010 Real Estate Taxes 15-29-15-65286-000-0191 to Diane Nelson, Pinellas County Tax
1305.
Collector 385.37
1306. Pay 2010 Real Estate Taxes 15-29-15-58788-000-0280 to Diane Nelson, Pinellas County Tax 196.29
Collector
1307. Pay 2010 Real Estate Taxes 15-29-15-58788-000-0290 to Diane Nelson, Pinellas County Tax 226
75
Collector .
1308 Pay 2010 Real Estate Taxes 15-29-15-58788-000-0310 to Diane Nelson, Pinellas County Tax 208
17
Collector .
1309, Utilities Payment- 1274 Cleveland St to Ci of Clearwater 525.00
1310. Utilities a ent-1273 Grove to City of Clearwater 332,77
1311. Utilities Pa ent-1277 Grove to City of Clearwater 271,76
1312. Escrow for any outstanding utility payments 1,000.00
140(h!i'1otal Settlement Charges (Enter on line 103, Section J and line 502, Section K) $527.00 $115,873.47
HUD-1 May 2007 OMB No. 2502-0265
December 7, 2010 3:36 PM RESPA handbook 4305.2
CITY OWNED PROPERTY
COUNTY IDENTIFIER: 07-29-16-00000-420-1000
ATLAS PAGE: 281 B
LOCATION: 650 Old Coachman Road
SHORT LEGAL: The East 660 feet of the South'/4 of the Northwest'/4 of the Southeast 1/4 of
Section 7, township 29 South; Range 16 East, Pinellas County, Florida; LESS road rights-of-way,
LESS the South 210 feet thereof.
DIMENSIONS/ACREAGE: 126.5 X 660 -1.83 acres (MOL)
SURVEY: Deuel Associates -Work Order 2010-165 -November 20, 2010
APPRAISAL: Riggins, Atkinson Combs & Associates - 08/10/2010 - $320,000
SPECIAL USE (IF ANY): Purchased with Philadelphia Phillies for interim administrative offices.
ZONING: Pinellas County RM-12.5 (Residential Multi Family -12.5 UPA)
SELLER: Davna Investments Limited, an Ontario, Canada corporation
PURCHASE PRICE: $320,000
CLOSING COSTS: $217.70 (tax proration and recording deed)
APPROPRIATION CODE: 0315-93132-560100-572-000-0000 (Parks & Rec)
ACQUISITION DATE: December 15, 2010
TITLE INSURANCE: YES - through Straley & Robin, P. A.
TITLE UNDERWRITER: Old Republic Title Insurance Company
POLICY NO. OPM-4019430
CLOSING AGENT: Straley & Robin, P. A., 1510 W. Cleveland St., Tampa, Fl. 33606
FILE NO.: 1197 / 07
O.R. BOOK/PAGE: 17126 /2246 - 2247 (WARRANTY DEED)
COMMENTS: See "Special Use."