CENTRAL FLORIDA USED AUTO PARTS INC
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Corporate Warranty Deed
KMlEEH F. I( 1lJ1kER, lURK (f lmlT
PllllLAS mtITY, FllJlIM
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This Indcnturc, made Ihis 31st da)' of October
A.D. 2002 Bctwccn
CENTRAL FLORIDA USED AUTO PARTS, INC.
---...-----...----
whose poSI om.ee address ip::'. I
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e 10.. rlL,ttkr, Fl3t/(, IS-
a L'olllora1iun L'xisling undl'r IhL' law,. of Ihe
Slale of FLORIDA
CITY OF CLEARWATER
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~...f'::'. TOTti.: $5,260.50
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BY,_\\\__ lEF1JJY Iliij(
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who.. po" ornee add fl'" is: P.O. BOX 4748
CLEARWATER, FL 33758-4748
02-4 100S!l NOVo.. 1-2002 4, IS""
PINt~~RS CO BK 12320 PO I!lSB
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Grantee,
\\'itncsscth. Ih.1 111,- said G",nlor, fllr and in '~1R,id"raliun ur .11,. SUIll uf I Ten & NO/100 ,
Dollars, In it in hand I)aid b>' ,h~ said Granh.", Ihe n.'\:cipc whelL'uf is hL"n'b)' acknowlL'tlgl'll, hiLS grallll'tJ, bnrg:tille.'d ;ulll
Sl'tltlln Iht" sajd Grantt.'l' (ol"l"\'t.'r, dJe." JiJllo"'ill~ dt.'Sc"riht"tJ Jand, silWlh,', I)'in!: and bdng in Ull' CuUnt)' u{
Pinellas . Slal<'..r Flurid:L I.. wi!:
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SEE ATTACIlEll SCIlF.llUl.F. "A" l.t:GAL DESCRIPTION
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c-Subject to covenants, restrictions and easements of record. Subject
also to taxes for 2002 and subsequent years.
Parcel Identification Number: 03/29/15/00000/430/0500
Aud tilt," said (jcantor LI{k.'~ lu..'c\.'h)' full~'\\arraJlI the tille lU !i.uc.lloulI.J. .lIld willddl'Ill1 lhl' ~;unc: ~lf!:'limilllu.' 1;,wJuJ
l'l:Jill1s of iJJJ pl'rsuns \\'hOJll'iUl'n'r.
In \\'ilncss \\'hcrl'of. llll' !I:lill Gr;tnhlr 11.1\ l'.lU~\.'\1 lhi" in~lruml'lII lu Ill' l'\t'\.'lIlc.'tl in lis n:cu1l' hy it~ ~lfll~
:lUlhorilt.'t1 uftkt'c muJ r:lmol'd il!. ,:oflll)(0I1L' ~l'al 1Il be: ..nhc..'\J Ihe.' day :Inti Y"';l( lirsl ilINl\'l' WI'iUl'lI.
II) _.~:,~~~I_ :~I~~_.~:~~~~_O_ ~A_~~S.
JA~ASILAR
,,, PRESI ENT
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Sla.e of Florida
Counl)' or Pine lias
11.e forcgoin~ in5lnlln"". ..... acknowlt'tlgt'll bdore me Ihis 31st da)' of October . 2002 _ b)
JACK VASILAROS, PRESIDENT
of CENTRAL FLORIDA USED AUTO PARTS, INC.
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a rorporalion rxisling unc.Jl'r IhL' 1:1\\'5 of the Stat... of , on b4:h:df of Ihe t:orpurillic....
1tC'/She is pt:rsonally known to me or has pmc.Jul'ed . 'ficlUinll.
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PREPARED BY, RECORD & RETURN TO:
LYDIA MESSINA - File 1921D3
EPIC DIVISION
First American Title Insurance
7360 Bryan Dairy Road, Suite 2DO
Largo, FL 33776
Description: Pinellas,FL Document-Book.Page 12320.1598 Page: 1 of 2
Order: 6 Comment:
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PINE~~AS COUNT V r~A.
Orr,REC.BK 12320 PG 1599
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SCHEDULE
A
LEGAL DESCRIPTION
That Part of the SW 1/4 of the SE 1/4 of Section 3, Township 29
S, Range 15 E,described as follows. Beginning in the West
boundary of the public thoroughfare mown as nBetty Lanen at a
point which bear. N 89036'07n W, 68.91 feet from the SE corner
of .aid SW 1/4 of SB 1/4; and running thence on the s..e
bearing, along the south boundary of .aid SW 1/4 of the SB 1/4,
694.24 feet, thence N 006'21w W,513.94 feet to the Southwesterly
boundary of said thoroughfare known as WBetty Lanew, thence S 530
26~9 W B, along said boundary 838.9 feet to the beginning of a
curve in said thoroughfare boundary, the chord of which curve
bears S 47055'51W B from this point, thence following said curve
along the Betty Lane thoroughfare boundary, 28.62 feet to the
Point of Beginning.
o!
Description: Pinellas,FL Document-Book.Page 12320.1598 Page: 2 or 2
Order: 6 Commen t :
CONTRACT FOR PURCHASE OF REAL PROPERTY
BY
THE CITY OF CLEARWATER, FLORIDA
PARTIES: CENTRAL FLORIDA USED AUTO PARTS, INC., a Florida Corporation (herein "Seller"), of
1700 North Betty Lane, Clearwater, Florida, Phone: (727) 443-3132, and the CITY OF CLEARWATER,
FLORIDA, a Municipal Corporation of the State of Florida (herein "Buyer" or "City") of P. O. Box 4748,
Clearwater, Florida 33758-4748, ATTENTION: William B. Horne II, City Manager, (collectively "Parties")
hereby agree that the Seller shall sell and Buyer shall buy the following real property ("Real Property")
and personal property ("Personalty") (collectively "Property") upon the following terms and conditions.
1, PROPERTY LEGAL DESCRIPTION
A portion of the SW1/4 of the SE1/4 of Section 3, Township 29 South, Range 15 East, Pinellas
County, Florida, identified as Pinellas County Parcel # 03-29-15-00000-430-0500, being more
specifically described as follows:
Begin at the SW corner of the SE1/4 of the SE1/4, run thence west 68,91 feet to the west line of
Betty Lane for the POINT OF BEGINNING; thence run west 694.24 feet; north 513,94 feet; S530E,
838.0 feet; S470E, 28,62 feet to the POINT OF BEGINNING; containing 4.2 acres, more or less.
PERSONALTY:
NONE
2, FULL PURCHASE PRICE FOR REAL PROPERTY....................................... $ 750,00000
FUNDING TOWARD ENVIRONMENTAL EXPENDITURES,............................$ 60,00000
TOTAL ACQUISITION AMOUNT:........................$ 810,00000
3. MANNER OF PAYMENT: City of Clearwater check in U.S. funds
at time of closing... .................................................. .$ 810,000 00
4, PURCHASE PRICE
The Full Purchase Price as shown herein has been reached through negotiations with the Seller by City
staff. The City procured the following two appraisals preliminary to negotiations: 1) James M.
Millspaugh, MAl, valued the subject real property at $475,000 on May 31, 2000, and 2) K. Mitchell
Caldwell, MAl, valued the subject real property at $600,000 on January 25,2002.
5. TIME FOR ACCEPTANCE; APPROVALS
Following execution of this contract by Seller, the price, terms and conditions as contained herein shall
remain unchanged and be held unconditionally open for a period of 45 days following delivery in:ii
duplicate original to City Manager of the City of Clearwater for acceptance and approval, counter effer, ~
or rejection by action of the Clearwater City Commission ("Commission"). If this agreement is accepted
and approved by the Commission, it will be executed by duly authorized City officials and delivered to
Buyer within 10 days thereafter. If this contract is rejected by the Commission upon initial presentation
to the Commission, this contract shall be null and void in all respects and Buyer shall be so informed in
writing within 5 days of such action.
6. TITLE
Seller warrants legal capacity to and shall convey marketable title to the Property by Statutory
Warranty, subject only to matters contained in Paragraph 7 acceptable to Buyer. Otherwise title shall
be free of liens, easements and encumbrances of record or known to Seller, but subject to property
taxes for the year of closing; covenants, restrictions and public utility easements of record; and no
others provided there exists at closing no violation of the foregoing and none of them prevents Buyer's
intended use of the Property. Seller warrants and represents that there is ingress and egress to the
Real Property sufficient for the intended use as described herein.
7. TITLE EVIDENCE
Seller shall, at Seller expense and within 15 days prior to closing date deliver to Buyer a title insurance
commitment issued by a Florida licensed title insurer agreeing to liens, encumbrances, exceptions or
qualifications set forth in this Contract, and those which shall be discharged by Seller at or before
closing. Seller shall convey a marketable title subject only to liens, encumbrances, exceptions or
qualifications set forth in this Contract. Marketable title shall be determined according to applicable Title
Standards adopted by The Florida Bar and in accordance with law. Buyer shall have 5 days from
receiving evidence of title to examine it. If title is found defective, Buyer shall, within 3 days thereafter,
notify Seller in writing specifying defect(s). If the defect(s) render title unmarketable, Seller will have
120 days from receipt of notice within which to remove the defect(s), failing which Buyer shall have the
option of either accepting the title as it then is or withdrawing from this Contract. Seller will, if title is
found unmarketable, make diligent effort to correct defect(s) in title within the time provided therefor,
including the bringing of necessary suits.
8. SURVEY
Buyer, at Buyer's expense, within time allowed to deliver evidence of title and to examine same, may
have Real Property surveyed and certified to the Buyer, Seller and closing agent by a registered Florida
land surveyor. If survey shows any encroachment on Real Property, or that improvements located on
Real Property encroach on setback lines, easements, lands of others, or violate any restrictions,
contract covenants or applicable governmental regulation, the same shall constitute a title defect. The
survey shall be performed to minimum technical standards of the Florida Administrative Code and may
include a description of the property under the Florida Coordinate System as defined in Chapter 117,
Florida Statutes.
9. CLOSING PLACE AND DATE
Seller shall designate closing agent and this transaction shall be closed in the offices of the designated
closing agent in Pinellas County, Florida, at Seller option, anytime after 30 days and before 90 days
following the effective date, unless extended by other provisions of this contract. If either party is
unable to comply with any provision of this contract within the time allowed, and be prepared to close as
set forth above, after making all reasonable and diligent efforts to comply, then upon giving written
notice to the other party, time of closing may be extended up to 60 days without effect upon any other
term, covenant or condition contained in this contract.
Page 2 of 6
10. CLOSING DOCUMENTS
Seller shall furnish closing statements for the respective parties, deed, bill of sale (if applicable),
mechanic's lien affidavit, assignments of leases, tenant and mortgage estoppel letters, and corrective
instruments. If Seller is a corporation, Seller shall deliver a resolution of its Board of Directors
authorizing the sale and delivery of the deed and certification by the corporate Secretary certifying the
resolution and setting forth facts showing the conveyance conforms with the requirements of local law.
11, CLOSING EXPENSES
Documentary stamps on the deed, unless this transaction is exempt under Chapter 201.24, Florida
Statutes, shall be paid by the Seller. Seller shall also pay the costs of recording any corrective
instruments. Recordation of the deed shall be paid by Buyer.
12. PRORATIONS; CREDITS
Buyer and Seller covenant and agree that ad valorem taxes owed for the year 2002 through the day
prior to closing shall be collected and paid at closing in the following manner: 50% to be paid by Buyer,
50% to be paid by Seller. Closing agent shall pay such ad valorem taxes, together with any other
unpaid taxes that may create a lien against the subject property, and deliver same to the Pinellas
County Tax Collector with notification to thereafter exempt the Property from taxation as provided in
Chapter 196.012(6), Florida Statutes. If the amount of taxes and assessments for the current year
cannot be ascertained, rates for the previous year shall be used with due allowance being made for
improvements and exemptions. Any deposits held by Seller in trust for third parties in occupancy of the
Property shall be credited to Buyer at time of closing. Assessments for any improvements that are
substantially complete at time of closing shall be paid in full by Seller.
13. OCCUPANCY
Seller warrants that there are no parties in occupancy other than the Seller, or as othelWise disclosed
herein. If Property is intended to be rented or occupied beyond closing, the fact and terms thereof shall
be stated herein, and the tenant(s) or occupants disclosed pursuant to Paragraph 14. Seller agrees to
deliver occupancy of the Property at time of closing unless othelWise stated herein. If occupancy is to
be delivered before closing, Buyer assumes all risk of loss to Property from date of occupancy, shall be
responsible and liable for maintenance from that date, and shall be deemed to have accepted Property
in its existing conditions as of the time of taking occupancy unless othelWise stated herein or in
separate writing.
14. PROPERTY CONDITION
Seller shall deliver the Property to Buyer at time of closing with all improvements thereupon in their
present "as is" condition, broom clean and totally vacated of all tenants, business equipment, inventory,
other business assets, garbage and debris, ordinary wear and tear excepted. Seller shall maintain any
existing landscaping and grounds in a comparable condition. Seller makes no warranties other than is
disclosed herein in Paragraph 18 ("SELLER WARRANTIES") and marketability of title.
Page 3 of 6
" .-,
15, WALK.THROUGH INSPECTION
At a time mutually agreeable between the parties, but not later than the day prior to closing, Buyer may
conduct a final "walk-through" inspection of the Property to determine compliance with any Seller
obligations under Paragraphs 8 and 14. No new issues may be raised as a result of the walk-through.
16. PROCEEDS OF SALE; CLOSING PROCEDURE
The deed shall be recorded upon clearance of funds. Proceeds of sale shall be held in escrow by
Seller's attorney or by such other mutually acceptable escrow agent for a period of not longer than 5
days from and after closing, during which time evidence of title shall be continued at Buyer's expense to
show title in Buyer, without any encumbrances or change which would render Seller's title unmarketable
from the date of the last title evidence. If Seller's title is rendered unmarketable through no fault of the
Buyer, Buyer shall, within the 5-day period, notify the Seller in writing of the defect and Seller shall have
30 days from the date of receipt of such notification to cure the defect. If Seller fails to timely cure the
defect, all funds paid by or on behalf of the Buyer shall, upon written demand made by Buyer and within
5 days after demand, be returned to Buyer and simultaneously with such repayment, Buyer shall return
Personalty and vacate Real Property and reconvey it to Seller by special warranty deed. If Buyer fails
to make timely demand for refund, Buyer shall take title "as is", waiving all rights against Seller as to
any intervening defect except as may be available to Buyer by virtue of warranties contained in the
deed. The escrow and closing procedure required by this provision may be waived if title agent insures
adverse matters pursuant to Section 627.7841, F.S. (1987), as amended.
17. DEFAULT
If this transaction is not closed due to any default or failure on the part of the Seller, other than to make
the title marketable after diligent effort, Buyer may seek specific performance or unilaterally cancel this
agreement upon giving written notice to Seller. If this transaction is not closed due to any default or
failure on the part of the Buyer, Seller may seek specific performance. If a Broker is owed a brokerage
fee regarding this transaction, the defaulting party shall be liable for such fee.
18. SELLER WARRANTIES
Seller warrants that there are no facts known to Seller that would materially effect the value of the
Property, or which would be detrimental to the Property, or which would effect Buyer's desire to
purchase 2..\J pr~! as follows: (Speci{y known defects If none are known, write "NONE")
~~~:~~~r~~;i~I~.I+FE~TY IS BEI7~D "AS IS" WITH NO RECQUBSE
Buyer shall have 15 days to investigate said matters as disclosed by the Seller, and shall notify Seller in
writing whether Buyer will close on this contract notwithstanding said matters, or whether Buyer shall
elect to cancel this contract. If Buyer fails to so notify Seller within said time period, Buyer shall be
deemed to have waived any objection to the disclosed matters and shall have the obligation to close on
the contract.
Page 4 of 6
. .'
19. RADON GAS NOTIFICATION
In accordance with provisions of Section 404.056(8), Florida Statutes (1989), as amended, Buyer is
hereby informed as follows:
RADON GAS: Radon is a naturally occurring radioactive gas that, when it
has accumulated in a building in sufficient quantities, may present
health risks to persons who are exposed to it over time. Levels of radon
that exceed federal and state guidelines have been found in buildings in
Florida. Additional information regarding radon and radon testing may be
obtained from your county public health unit.
20, CONTRACT NOT RECORDABLE; PERSONS BOUND
Neither this contract nor any notice of it shall be recorded in any public records. This contract shall bind
and inure to the benefit of the parties and their successors in interest. Whenever the context permits,
singular shall include plural and one gender shall include all.
21, NOTICE
All notices provided for herein shall be deemed to have been duly given if and when deposited in the
United States Mail, properly stamped and addressed to the respective party to be notified, including the
parties to this contact, the parties attorneys, escrow agent, inspectors, contractors and all others who
will in any way act at the behest of the parties to satisfy all terms and conditions of this contract.
22. ASSIGNABILITY; PERSONS BOUND
This contract is not assignable. The terms "Buyer", "Seller", and "Broker" (if any) may be singular or
plural. This Contract is binding upon Buyer, Seller, and their heirs, personal representatives,
successors and assigns (if assignment is permitted).
23. ATTORNEY FEES; COSTS
In any litigation arising out of this contract, the prevailing party shall be entitled to recover reasonable
attorney's fees and costs.
24. TYPEWRITTEN OR HANDWRITTEN PROVISIONS
Typewritten or handwritten provisions shall control all printed provisions of contract in conflict with them.
25. BROKER REPRESENTATION
The parties covenant with each other that neither is represented by a Licensed Real Estate Broker at
time of contract. Each party is representing itself and acting in its own behalf in entering into this
contract. If either party employs a Licensed Real Estate Broker following the Effective Date to
represent that party in connection with the transactions contemplated hereby, the employing party shall
be responsible for any Broker fee or expense due to said Broker.
Page 5 of 6
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25. EFFECT OF PARTIAL INVALIDITY
The invalidity of any provision of this contract will not and shall not be deemed to effect the validity of
any other provision. In the event that any provision of this contract is held to be invalid, the parties
agree that the remaining provisions shall be deemed to be in full force and effect as if they had been
executed by both parties subsequent to the expungement of the invalid provision.
26. GOVERNING LAW
It is agreed by and between the parties hereto that this contract shall be governed by, construed, and
enforced in accordance with the laws of the State of Florida.
27. COUNTERPARTS; FACSIMILE COPY
This contract may be executed in two or more counterparts, each of which shall be deemed an original
and all of which together shall constitute one instrument. A facsimile copy of this contract, including any
addendum, attachments and any written modifications hereof, and any initials or signature thereon shall
be deemed an original.
28. ENTIRE AGREEMENT
~
BY~~:[[
lliam B. Horne II
City Manager
Approved as t .
_. /
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--.--/ ,---'----
JohryCarassas
Assistant City Attorney
Attest:
':h~o..~ lA4v'ia~6~ C!w~
1}~;;~.t,oUdeau .. {f
'(T- City Clerk '-'-_ ,.---
CENTRAL FLORIDA USED AUTO PARTS, INC.
Attest:
-"
. e President, Secretary
uys/cent fI used autoparts contr 0602,doc
Page 6 of 6
Barrett, Earl
From:
Sent:
To:
Cc:
Subject:
Barrett, Earl ~~
Thursday, March 06, 200310:12 AM
Stephenson, Susan E.
Mahony, Thomas
Property Purchase - closing documents
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MAR 0 7 2003
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Susan -
Under copy of this message I will forward the following items related to the October 31,2002 City purchase of the Central
Florida Used Auto Parts property at 1700 North Betty Lane:
· Original title insurance commitment (Issued 10-03-02)
· Original title insurance policy (Issued 11-01-02, delivered 03-04-03)
· Original closing statement dated 10-31-02
· *Copy of Corporate Warranty Deed recorded in O. R. 12320, Pages 1598 - 1599
· City Owned Property data sheet
Note: *Closing agent tells me title plant cannot locate original recorded deed.
I will provide Tom Mahony a copy of the deed and property data sheet and request he assign the property a City property
number, archive the records in the City-owned property books, and note the purchase on City atlas page 2608. I have
placed a copy of the deed in Engineering Official Records files,
1
+
o M.B. 2502.0260
.
A. "Settlement Statement B. Type of Loan
1. Loan Type Conv. Unins.
First American Title Insurance 2, File Number 1046-92103
Settlement Statement
3. Loan Number
4. Mortgage Insurance Case Number
C. Note: This form is furnished to give you a statement of actual settlement costs, Amounts paid to and by the settement agent are shown, items marked '(POC)' were paid outside this closing; they are shown
here for informational purposes and are not incuded in the totals, Amounts shown as RBL were retained by ender and deducted from the loan proceeds prior to receipt by settlement agent
D. Name of Borrower: City of Clearwater
1700 North Betty Lane, Clearwater, FL 34615
E. Name of Seller: Central FL Used Auto Parts, Inc.
F. Name of Lender: .
G. Property Location: 1700 North Betty Lane, Clearwater, FL 34615
H, Settlement Agent: First American Title Insurance I.
Address: 14100 Walsingham Road, Suite 14, Largo, FL 33774 Settlement Date: 10/31/2002
Place of Settlement Address: 14100 Walsingham Road, Suite 14, Largo, FL 33774 Print Date: 10/30/2002,5:27 PM
Disbursement Date: 10/31/2002
J. Summary of Borrower's Transaction K. Summary of Seller's Transaction
100. Gross Amount Due From Borrower 400. Gross Amount Due To Seller
101, Contract Sales Price 750,000.00 401, Contract Sales Price 750,00000
102. Personal Property 402, Personal Property
103. Settlement charges to borrower (line 1400) 4,953.31 403. Total Deposits
104. FUNDING TOWARD ENVIRON, EXPEND. 60,000.00 404. FUNDING TOWARD ENVIRON. EXPEND. 60,00000
105. 405.
Adjustments for items paid by seller in advance Adjustments for items paid by seller in advance
106. City/town taxes 406. Cityltown taxes
107. County taxes 407. County taxes
10B. Assessments 408. Assessments
109. 409.
110. 410,
111, 411,
112. 412,
113. 413.
114 414.
115. 415.
120. Gross Amount Due From Borrower 814,953.31 420. Gross Amount Due To Seller 810,000.00
200. Amounts Paid By Or In Behalf of Borrower 500. Reductions In Amount Due to Seller
201, Deposit or earnest money SOL Excess deposit (see instructions)
202, Principal amount of new loan(s) 502. Settlement charges (line 1400) 13)7906
203. Existing loan(s) taken subject 503. Existing loan(s) taken subject
204, 504. Payoff of first mortgage loan to PREMIER COMMUNITY 241,26288
205. 505. Payoff of second mortgage loan
206. 506.
207. 507.
208. 508.
209. 509.
Adjustments for items unpaid by seller Adjustments for items unpaid by seller
210, Cityltown taxes 510, Cityltown taxes
21 t County taxes 51 1, County taxes
212, Assessments 512, Assessments
213. 513.
214. 514.
215. 515,
216. 516.
I
217 517.
218. 518.
219. 519.
220. Total Paid By/For Borrower 520. Total Reduction Amount Due Seller 254,541.94
300, Cash At Settlement FromlTo Borrower 600. Cash At Settlement To/From Seller
301. Gross amount due from Borrower (line 120) 814,953.31 601. Gross amount due to Seller (line 420) 810,000.00
302. Less amounts paid by/for Borrower ~20) 602. Less reductions In amounts due to Seller (line 520) 254,541.94
303. Cash (X From) ( To) Bo~ower/ 814,953.31 603. Cash (X To) ( From) Seller 555,458.06
The HUD-1 Settlemenrtt#TIe)l1JNllfch ~ . IS a true and accurate account of this transaction, I have caused or will cause the funds to be
disbursed in accorQ.a'Jjo" ..;,,, 1I11:'ltateme . I Date: 10 - 3' ~~
Settlement ~f/ """ _ I ~
* Se~emental Pal for details.
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File No 1 046-921 03
L. Settlement Charges
700. Total Sales/Broker's Commission based on price Paid From Paid From
Division of Commission (line 700) as follows Borrower's Seller's
Funds at Funds at
701 Settlement Settlement
702.
703- Commission paid at Settlement
704.
800. Items Payable in Connection with loan
801 Loan Origination Fee
802, Loan Discount
803, Appraisal Fee
804. Credit Report
805, Lender's Inspection Fee
806, Mortgage Insurance Application Premium
807. Assumption Fee
808.
809.
810. .
811
812.
8n
814,
815.
900. Items Required by lender to be Paid in Advance
901, Interest
902, Mortgage Insurance Premium for
903- Hazard Insurance Premium for
904,
905.
906,
1000. Reserves Deposited with lender
1001 Hazard Insurance
1002. Mortgage Insurance
1003, City Property Taxes
1004, County Property Taxes
1005, Annual assessments
1006.
1007.
1008, Aggregate Accounting Adjustment
1100. Title Charaes
1101, Settlement or closing fee to First American Tille Insurance 125.00
1102, Abstract or tille search to First American Title Insurance 50.00
1103- Tille examination to First American Title Insurance 25.00
1104, Title Insurance Binder
1105, Document Fee
1106, Notary Fee
1107. Attorney Fee
(includes above item number(s))
1108, Tille Insurance to First American Tille Insurance 2,78125
(includes above item number(s) )
1109, Lender's coverage
1110, Owner's coverage 750,00000
1111, Shipping/Handling Admin Service Fee to First American Tille Insurance 25.00
1112,
11n
1114,
1115.
1116.
1117.
1200. Government Recording and Transfer Charges
1201 Recording fees: Deed $10,50 Mortgage $0,00 Release $0,00 10.50
1202, City/county tax/stamps:
1203- State tax/stamps: Deed $5250.00 Mortgage $0.00 5,25000
1204,
1205.
1206.
1300. Additional Settlement Charges
1301 Survey to
1302, Pest Inspection to
1303- Pest Repairs to ,
1304, Septic Inspections to
1305, Septic Repairs to
1306, TITLE SEARCH to TAMPA BAY TITLE SERVICES, INC. 80.00
1307. 2002 REAL ESTATE TAXES to PINELLAS COUNTY TAX COLLECTOR 4,94281 4,94281
1308.
1309.
1310.
1311
1312,
1313.
1314.
1315,
1400. Total Settlement Charges (enter on lines 103, Section J and 502, Section K) 4,953.31 13,279.06
I
. See Supplemental Page for details,
Supplemental Page
HUD-1 Settlement Statement
File No.
1046.92103
First American Title Insurance
Settlement Statement
Loan No.
Settlement Date:
10/31/2002
Borrower Name/Address:
City of Clearwater
Seller Name/Address:
Central FL Used Auto Parts, Inc., 1700 Nqrth Betty Lane, Clearwater, FL 34615
The following Section is restated from the Settlement Statement Page 1
300. Cash At Settlement FromIT 0 Borrower
301. Gross amount due from Borrower (line 120) 814,953,31
302. Less amounts paid by/for Borrower (line 220)
303. Cash (X From) ( To) Borrower 814,953.31
600. Cash At Settlement TolFrom Seller
601. Gross Amount due to Seller (line 420)
601, Less reductions in amounts due to Seller (line 520)
603. Cash (X To) ( From) Seller
810,000.00
254,541,94
555,458.06
I have carefully reviewed the HUD-1 Settlement Statement and to the best of my knowledge and beUllf, It Is a true a accurate statement of all receipts and
d1::::::'d~ ;Jf'rth""~ ~1I ::::.::):~ HU S.~.m"ts..m"f
City of Clearwater Central FL Used Auto Parts, In .
*
CONDITIONS
1. DEFINITIONS
(a) "Mortgage" means mortgage, deed of trust or other security instrument. (b) "Public
Records" means title records that give constructive notice of matters affecting your title
according to the state statutes where your land is located.
2. LATER DEFECTS
The Exceptions in Schedule B - Section 2 may be amended to show any defects, liens or
encumbrances that appear for the first time in the public records or are created or attach
between the Commitment Date and the date on which all of the Requirements of Schedule
B - Section 1 are met. We shall have no liability to you because of this amendment.
3. EXISTING DEFECTS
If any defects, liens or encumbrances existing at Commitment Date are not shown in
Schedule B, we may amend Schedule B to show them. If we do amend Schedule B to
show these defects, liens or encumbrances, we shall be liable to you according to
Paragraph 4 below unless you knew of this information and did not tell us about it in
writing.
4. LIMITATION OF OUR LIABILITY
Our only obligation is to issue to you the Policy referred to in this Commitment, when you
have met its Requirements. If we have any liability to you for any loss you incur because
of an error in this Commitment, our liability will be limited to your actual loss caused by
your relying on this Commitment when you acted in good faith to:
Comply with the Requirements shown in Schedule B - Section 1
or
Eliminate, with our written consent, any Exceptions shown in
Schedule B - Section 2.
We shall not be liable for more than the Policy Amount shown in Schedule A of this
Commitment and our liability is subject to the terms of the Policy form to be issued to you.
s. CLAIMS MUST BE BASED ON THIS COMMITMENT
Any claim, whether or not based on negligence, which you may have against us concerning
the title to the land must be based on this Commitment and is subject to its terms,
~ .
~
, FATIC.20: (Rev. 9'781
Firs~ American Title Insurance Company
SCHEDULE A
Agent's
FileNo.: 02-5212-1
Date Issued: October 3, 2002
Commitment No. FA-CC-
09:36 AM
Effective Date: September 20, 2002
08:00 AM
2.
Policy or Policies to be issued:
(a) A. L. T. A. Owner's Policy
Amount of Policy: $ 750,000.00
Proposed Insured: City of Clearwater
(b)
A. L. T. A. Loan Policy
$
Proposed Insured:
3. The estate or interest in the land described or referred to in this Commitment and covered herein is an estate or interest designated as follows:
Fee Simple
4. Title to the estate or interest in the land described or referred to in this Commitment and covered herein (and designated as indicated in No.
3 above) is, at the effective date hereof, vested in:
Central Florida Used Auto Parts, Inc
5.
TIle land referred to in this Commitment is in the
State of Florida
and described as follows:
County of Pinellas
See Attached Commitment Schedule A Continued
THIS COMMITMENT IS FURNISHED BY FIRST AMERICAN
TITLE INSURANCE COMPANY OR ITS POLICY ISSUING
AGENT SOLELY FOR THE ISSUANCE OF A POLICY OR
POLICIES OF TITLE INSURANCE OF FIRST AMERICAN
TITLE INSURANCE COMPANY. THIS COMMITMENT IS NOT
AN ABSTRACT OR AN OPINION OF TITLE, LIABILITY
UNDER THIS COMMITMENT IS DEFINED BY AND LIMITED
TO THE TERMS AND CONDITIONS OF THIS COMMITMENT
AND THE TITLE INSURANCE POLICY TO BE ISSUED.
I PERSONS AND ENTITIES NOT LISTED ABOVE AS PROPOSED
INSUREDS ARE NOT ENTITLED TO RELY UPON THIS
COMMITMENT FOR ANY PURPOSE.
Title Clearinghouse
of Agent)
, FATIC-SOO (Rev. B-78)
First American Title Insurance Company
SCHEDULE
A
(Continued)
Agent's
File No.:
02-5212-1
Commitment No. FA-CC-
Policy No.:
That Part of the SW 1/4 of the SE 1/4 of Section 3, Township 29
S, Range 15 E,described as follows: Beginning in the West
boundary of the public thoroughfare known as "Betty Lane" at a
point which bears N 89036'07" W, 68.91 feet from the SE corner
of said SW 1/4 of SE 1/4; and running thence on the same
bearing, along the south boundary of said SW 1/4 of the SE 1/4,
694.24 feet; thence N 006'21" W,513.94 feet to the Southwesterly
boundary of said thoroughfare known as "Betty Lane"; thence S 530
2~" E, along said boundary 838.9 feet to the beginning of a
I~rve in said thoroughfare boundary; the chord of which curve
{)9 bears S 47055' 51" E from this point; thence following said curve
~... ... along the Betty Lane thoroughfare boundary, 28.62 feet to the
~ Point of Beginning.
FATJC-~02 (Rev. 9,78)
First American Title Insurance Company
SCHEDULE B-1
(Requirements)
Agent's
File No.: 02-5212-1
Commitment No. FA-CC-
The following are the requirements to be complied with:
1. Payment to, or for the account of, the grantors or mortgagors of the full consideration for the estate or interest to
be insured. I
2. Payment of all taxes, assessments, levied and assessed against subject premises, which are due and payable.
3. Satisfactory evidence shall be produced that all improvements and/or repairs or alterations thereto are completed;
that contractor, subcontractor, labor and materialmen are paid in full.
4. Instruments in insurable form which must be properly executed, delivered and duly ftled for record:
A. Corporate Warranty Deed from Central Florida Used Auto Inc.
to City of Clearwater, conveying the lands describe in Schedule
"A". Satisfactory evidence must be furnished as the incorporation
of Central Florida Used Auto Parts. In additio , proof as to the
current standing of said corporation and if e proposed instrument
of conveyance is to be executed by an off' er other than a
President, Vice President or Chief Exec ive Officer, a certified
resolution authorizing said officer t execute on behalf of the
corporation must be recorded.
B. Satisfaction of that certain me executed by Central Florida
Used Auto Parts Inc. in favor f Premier Community Bank of Florida
dated May 19, 2000 and recor ed May 31, 2000 in Official Records
Book 10928, Page 1320, in e original amount of $250,000.00 and
recorded in the Public R ords of Pinellas County, Florida.
C. Release of that certa' UCC-1 Financing Statement in favor of
Suburban Propane rec rded on March 31, 1998, in O.R. Book 10043,
Page 922, Public R ords of Pinellas County, Florida.
D. Release of assi ent of Rents and Leases as recorded in O.R. Book
10928, Page 13 8" Public Records of Pinellas County, Florida.
E. Release of
Premier C
Book 109
at certain UCC-1 Financing Statement in favor of
unity Bank of Florida recorded on May 31, 2000, in O.R.
, Page 1334, Public Records of Pinellas County, Florida.
Schedule B-1 Continued
FATlc-aqo (Rev. 9-78)
.'
First American Title Insurance Company
SCHEDULE
B-1
(Continued)
Agent's
File No.:
02-5212-1
Commitment No. FA-CC-
Policy No.:
of Claim of Lien in Favor of TBE Group, Inc.
against Central Florida Auto Parts, Inc., recorded i
12154, page 2655, Public Records of Pinellas Cou
insure
G. Submit a proper Owner/Seller's Affidavit sa
against unrecorded mechanic's liens.
H. Submit a proper Borrower's Affidavi atisfactory to insure
against any actions or proceeding 1n bankruptcy, receivership,
insolvency or any judgment and/ liens of any nature which
could constitute a charge or en upon said property.
I. Receipt and review of rent survey of the subject property
properly certified to t Company evidencing no encroachments,
violations, adverse c ims or other matters which are
uninsurable. The co any reserves the right to make further
requirements and/ exceptions which may be deemed necessary.
J. The lien of special tax or assessment not shown in the
Official Rec d Books of the Clerk of the Circuit Court,
Pinellas nty, Florida.
reserves the right to make further requirements
above requirements.
~
~p
D."J
\
, ,FAT - 2C3 (Rev. 10-92)
, .
Firs,t American Title Insurance Company
SCHEDULE B-II
(Exceptions)
Agent's
File No.:
02-5212-1
Commitment No. FA-CC-
Schedule B of the policy or policies to be issued will contain exceptions to the following matters unless the same are disposed
of to the satisfaction of the Company,
1.
er
hit es.
n, or ri a lien, for services, labor, or material heretofore or here
wn by public records.
erse claim to any portion of said land which has been created by artificial means or has accreted to any such
so created and riparian rights, if any.
r special assessments which are not shown as existing liens by the public records.
\0 '?J\~V
y lien provided by Chapter 159, Florida Statutes, in favor of any
city, town, village, or port authority for unpaid service charges for
service by any water systems, sewer systems and gas systems serving the
lands described herein.
9. The lien of taxes for the year 2002, and all subsequent years, which are
not now due and payable under Parcel No. 03-29-15-00000-430-0500. The
2001 Real Estate taxes were paid on 05-31-07 in the amount of $9,618.69.
Gross tax amount for 2001: $9,336.59. Homestead Exemption for 2001: N/A.
Other Exemptions: None.
10. Subject to any unrecorded Leases.
., .
Florida Promulgated Closing Service Letter
The operation and scope of the following closing protection letter ("Letter") is limited to the transaction which is the subject of the
commitment to which this Letter is attached and is also directed to those person(s) and/or entity(ies) set forth in the Letter and identified
as a proposed insured in the commitment.
RE: Issuing Agent: Agent countersigning the attached commitment.
When title insurance of First American Title Insurance Company is specified for your protection in connection with closings of
real estate transactions in which you are to be the lessee or purchaser of an interest in land or a lender secured by a mortgage (including
any other security instrument) of an interest in land, the First American Title Insurance Company, subject to the Conditions and Exclusions
set forth below, hereby agrees to reimburse you for actual loss incurred by you in connection with such closing when conducted by said
Issuing Agent when such loss arises out of:
1. Failure of said Issuing Agent to comply with your written closing instructions to the extent that they relate to (a) the status of
the title to said interest in land or the validity, enforceability and priority of the lien of said mortgage on said interest in land, including the
obtaining of documents and the disbursement of funds necessary to establish such status of title or lien, or (b) the obtaining of any other
document, specifically required by you, but not to the extent that said instructions require a determination of the validity, enforceability
or effectiveness of such other document, or (c) the collection and payment of funds due you, or
2. Fraud or dishonesty of said Issuing Agent in handling your funds or documents in connection with such closing.
If you are a lender protected under the foregoing paragraph, your borrower in connection with a loan secured by a mortgage on
a one to four family dwelling shall be protected as if this letter were addressed to your borrower,
Conditions and Exclusions
A. The First American Title Insurance Company will not be liable to you for loss arising out of:
1. Failure of said Issuing Agent to comply with your closing instructions which require title insurance protection inconsistent
with that set forth in the title Insurance binder or commitment issued by the First American Title Insurance Company, Instructions which
require the removal of specific exceptions to title or compliance with the requirements contained in said binder or commitment shall not
be deemed to be inconsistent.
2. Loss or impairment of your funds in the course of collection or while on deposit with a bank due to bank failure, insolvency
or suspension, except such as shall result from failure of said Issuing Agent to comply with your written closing instructions to deposit
the funds in a bank which you designated by name.
3. Mechanics' and materialmen's liens in connection with your purchase or lease or construction loan transactions, except to the
extent that protection against such liens is afforded by a title insurance binder, commitment or policy of the First American Title Insurance
Company,
4. The periodic disbursement of construction loan proceeds or funds furnished by the owner to pay for construction costs during
the construction of improvements on the land to be insured, unless an officer of the company has specifically accepted the responsibility
to your for such disbursement program in writing.
B, When the First American Title Insurance Company shall have reimbursed you pursuant to this letter, it shall be subrogated to
all rights and remedies which you would have had against any person or property had you not been so reimbursed, Liability of the First
American Title Insurance Company for such reimbursement shall be reduced to the extent that you have knowingly and voluntarily
impaired the value of such right of subrogation.
C. Any liability of the First American Title Insurance Company for loss incurred by you in connection with closings of real
estate transactions by said Issuing Agent shall be limited to the protection provided by this letter. However, this letter shall not affect the
protection afforded by a title Insurance binder, commitment or policy of First American Title Insurance Company, The dollar amount of
liability hereby incurred shall not be greater than the amount of the title insurance binder, commitment or policy of title insurance to be
issued, and liability hereunder as to any particular loan transaction shall be coextensive with liability under the policy issued to you in
connection with such transaction. Payment in accordance with the terms of this letter shall reduce by the same amount the liabi lity under
such policy, and payment under such policy shall reduce by the same amount the company's liability under the terms of this letter.
D. Claims ofloss shall be made promptly to the First American Title Insurance Company at its principal office at I First American
Way, Santa Ana, California 92707, When the failure to give prompt notice shall prejudice the First American Title Insurance Company, then
liability of the First American Title Insurance Company hereunder shall be reduced to the extent of such prejudice, The First American
Title Insurance Company shall not be liable hereunder unless notice of loss in writing is received by the First American Title Insurance
Company within ninety (90) days from the date of discovery of such loss.
E. Nothing contained herein shall be construed as authorizing compliance by any issuing agent with any such closing instructions,
compliance with which would constitute a violation of any applicable law, rule or regulation relating to the activity of title insurers, their
issuing agents, and their failure to comply with any such closing instructions shall not create any liability under the terms of this letter.
F. The protection herein offered will be effective until cancelled by written notice from the First American Title Insurance
Company, Any previous insured Closing Service letter or similar agreement is hereby cancelled, except as to closings of your real estate
transactions regarding which you have previously sent (or within 30 days hereafter send) written closing instructions to said Issuing
Agent.
. "
FIRST AMERICAN TITLE INSURANCE COMPANY
By:
4t~
-.
(TP 10/99)
ALTA Owner's Policy (1 Q..17-92) (With Florida 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, cosis, attorneys' fees or expenses which arise by
reason of:
1. (a)
ro>
Any law, ordinance or governmental regulation (including but not limited to building and zoning laws, ordinances, or regulations) restticting, 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 la�d 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 exlent that a notice of the enforcement thereof or a notice of a defect, lien or encumbrance
resulling from a violation or alleged violation affecting the land has been recorded in the public records at Date of Policy.
Any governmental police power not excluded by (a) above, except to the exlent that a notice of the exercise thereof or a notice of a defect, lien or enwmbrance 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 ftom 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.
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 rewrds 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) resulti�g 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.
Any claim, which azises 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:
(a) the transaction creating the estate or interest insured by this policy being deemed a fraudulent comeyance or fraudulent transfer; or
(b) 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:
(i) to timely record the instrument of transfer; or
(ii) of such recordation to impart notice to a purchaser for value or a judgment or lien creditor.
1. DEFINTI'ION OF TERMS.
The followin� terms when used in this policy mean:
(a) "insured : the insured named in Schedule A, and,
sub�ect lo any rights or defenses the Company would
have had agamst the named insured, those who succeed
to the interest of the named insured by operation of law
as distinguished from purchase includmg, but not
limited to, heirs, distr�butees, devisees, survivors,
personal representatives, next of kin, or corporate or
fiduciary successors.
(b) 'msured claimant": an insured claiming loss or
damage.
(c) knowledge" or "known": actual knowledge, �ot
constructive knowledge or notice which may be
imputed to an insured by reason of the public records as
deYined in this policy or any other records which impart
wnstructive nohce of matters affecting the land.
(d) "land": the land described or referred to in
Schedule (A)1 and improvements affixed thereto which
by law constnute rear property. The term "land" does
not include any property beyond the lines of the area
described or referred to m Schedule A, nor any right,
title interest, eslate or easement in abuttiug streets,
roa�s, avenues, alleys, lanes, ways or waterways, but
nothing herein shall modify or limit the extent to which
a right of aca;ss to and from the land is insured by this
olic
P(e)y "mortgage": mortgage, deed of trust, trust deed,
or other sewnty mstrument.
(� "public records": records established under state
statutes at Date of Policy for the purpose of impariing
constructive notice of matters relahng to real property to
purchasers for value and without k�owledge. With
respect to Section 1(a)(iv) of the Exclus�ons From
Coverage, "public records" shall also include
environmental protection liens filed in lhe records of the
clerk of the Uorted States district court for the district in
which the land is located.
(g) "unmarketability of the title": an alleged or
apparent matter affectmg the title ro the land, not
excluded or excepted from coverage, which would
entitle a purchaser of the es[ate 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 AI�TER
CONVEYANCE OF TITLE.
The coverage of this policy shall continue in force as of
Date of Pol�cy 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 msured, or only so long
as the insured shall have liability by reason of covenants
of warranty made by the insured in any transfer or
comeyance of the estate or interest. This policy shall
not conhnue in force in favor of any purchaser from the
i�sured of either (i) an estate or interes[ in Ihe land, or
(ii) an indebtedness secured by a purchase money
mortqaqe given to [he insured.
3. NOTI(.`E OF CLAIM TO BE GIVEN BY
INSURED CLAIMANT.
The insured shall notify the Company promptly in
writing (i) in case of any lit�gation as set forth in Sect�on
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 tide to the estate or interest, as insured,
CONDITIONS AND STIPULATIONS
All information designated as confidential by the
insured claimant provided to [he Company pursuant to
this Section shall not be disclosed to others unless, in
the reasonable judgmenl 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 m this paragraph shall
terminate any liability of the Company under this policy
as to that cla�m.
6. OPTIONS TO PAY OR OTHERWISE SE'TTLE
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
ns rance.
(i) To pay or tender payment of the amount of
insurance under this policy together with any costs,
attorneys' fees, and expenses incurred by the msured
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.
(i�) Upon the exercisc by the Company of this
option, ail liabil�ty and obligations to the insured under
th�s policy, other than to make the payment re�uired,
shall terminate, including any liability or obiligahon to
defend, prosecute, or continue any litigation, and the
policy shall be surrendered to the Company for
cancellation.
(b) To Pay or Otherwise Setde With Parties Other
than the Insured or With the [nsured Claimant.
(i) to pay or otherwise setde with other parties for
or m the name of an insured claimant any cla�m insured
against under this policy, together with any costs,
attorneys' fees, and expenses mcurred by the msured
claimant which were authorized by the Company up to
the time of payment and which the Company is
obligated to pay; or
(v) to pay or otherwise setde with the insured
claimant the loss or damage provided for under this
policy, toðer with any costs, attorneys' fees, and
expenses mcurred by the insured claimant which were
authorized by the Company up to the time of payment
and which the Company �s obl�gated to pay.
Upon the exercise by the Compa�y of either of the
options provided for m parapraphs (b)(i) or (ii), the
Company s obligations to the msured under this policy
for the claimed loss or damage, other than the payments
required ro be made, shall terminate, includmg any
liability or obligation to defend, prosecute or continue
any litigation.
7. DETERMINATION, EXTENT OF L.IABILITY
AND COINSURANCE.
This policy is a contract of indemnity against actual
monetary loss or damage sustained or mcuned 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 Q� the Company under .this policy
shall not exceed the least of:
(i) the Amount of Insurance stated in Schedule A;
or,
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 amounl, if any, lost to
the Company by reason of the impairment by the
insured claimant of the Company's right of subrogation.
(b) The Compan,'�ights A�ainst Non-insured
Obl�eors•
The Company's right of subrogation against non-
insured obligors shall exist and sha❑ include, without
limitation, the rights of the insured lo 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. ARBTI'RATION.
Unless prohibited by applicable law, arbitralion
pursuant to the Title Insurartce Arbitration Rules of
the Americare Ar6itmlion Associalion may be
demanded if agreed to by both the Company and the
Insured. Arbitmble matters may inc[ude, but are reot
limited to, arey controversy or c[aim bedveen the
ComPany and the Insured arising out of or relating to
this policy, and service of the Corrspany in connection
with its usuance or the breach of a policy provisiore or
other obligation. Arbitration pursuant to this policy
and under the Rules in effect on the date the demarrd
for arbitratiors is mnde or, at the option of the Insured,
the Rules in effect at Date of Policy s)wU 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 couR to award attorneys' fees to a
prevailing par�y. Judgment upon the award rendered
by the Arbitrator(s) may be entered in any eourt
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. LIABILTTY LIMITED TO THIS POLICY;
POLICY ENTIRE CONTRACT.
(a) This policy together with a11 endorsements, if
any, attached hereto by the Company is the entire policy
and contract between the insured and the Com�any. In
interpreting any provision of this policy, th�s 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 irtterest covered hereby or by
any action assertiAg such claim, shall be restricted to
th�s policy.
(c) No amendmenC 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
validating officer or authorized signatory of the
Company.
and which might cause loss or damage for which the
Company may be liable by virtue of tfiis policy, or (iii)
if titre 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 snail 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 tfie prejudice.
4. DEFENSE AND PROSECUTION OF ACTION~
DUTY OF INSURED ClAIMANT Tv
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
msured, 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 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, whetner or not it shall be
liable hereunder, and sllall not thereby concede liability
or waive any provision of this policy. If the Company
shall exercise ItS rights under tllis 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 ma)l
pursue any litigation to final determination by a court of
competent jUTlsdiction 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
Rermit the Company to use, at its option, the name of
the insured for tnis 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, mcluding any liability or obligatIOn to
defend, prosecute, or contmue 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 sworn to by tile 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 oamage 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
termmate, including any liabi]ity 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, corresRondence
and memoranda in the custody or control of a third
party, which reasonably pertain to the loss or damage.
(ii) the difference between the value of the insured
estate or interest as insured and the value of the insured
estate or interest ,Subject, tiJ the defect, lien or
encumbrance insured against by this policy.
(b) (This paragra"ph'deatinl with Coinsurance was
removed from Florida policies.)
(c) The Company will pay only those costs,
attorneys' 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 of unmarketability of title, 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 tit]e 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 destroyed, 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
SETfLEMENT.
(a) The Comoanv's Ril1ht of SubrOl1ation
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 docs 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,
16. SEVERABILITY.
In the event any provision of the policy is held
invalid or unenforceable under app]icable 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, Attention: Claims
Department, 1 First American Way, Santa Ana,
California 92707,
First American Title Insurance Company
COMMERCIAL RESIDENTIAL NEW HOME SALE RESALE FORECLOSURE OTHER
SCHEDULE A
Issuing Office File No. 1046-92103
Policy No. FA-35- 764578
Date of Policy: November 01, 2002 at 4: 18 PM
Amount of Insurance: $750,000.00
1. Name ofInsured:
City of Clearwater
2. The estate or interest in the land which is covered by this policy is:
Fee Simple
3. Title to the estate or interest in the land is vested in:
City of Clearwater
4. The land referred to in this policy is described as follows:
See Schedule A attached hereto and made a part hereof
First American Title Insurance Company
By:
~y~
As Vice President of First American Title Insurance Company
Page 1
File No.: 1046-92103
First American Title Insurance Company
Schedule A (Continued)
Issuing Office File No.: 1046-92103
That part of the SW 1/4 of the SE 1/4 of Section 3, Township 29 S, Range 15 E, described as follows:
Beginning in the West boundary of the public thoroughfare know as "Betty Lane" at a point which bears
N 890 36' 07" W, 68.91 feet from the SE corner of said SW 1/4 of SE 1/4; and running thence on the
same bearing, along the South boundary of said SW 1/4 of the SE 1/4, 694.24 feet; thence N 00 6'21" W,
513.94 feet to the Southwesterly boundary of said thoroughfare known as "Betty Lane"; thence S 530
26'09" E, along said boundary 838.9 feet to the beginning of a curve in said thoroughfare boundary; the
chord of which curve bears S 470 55'51" E from this point; thence following said curve along the Betty
Lane thoroughfare boundary, 28.62 feet to the Point of Beginning.
Page 2
File No.: 1046-92103
First American Title Insurance Company
,>
SCHEDULE B
Issuing Office File No. 1046-92103
Policy No.: FA-35- 764578
EXCEPTIONS FROM COVERAGE
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. Any rights, interests, or claims of parties in possession of the land not shown by the public
records.
2, Any rights, interests, or claims affecting the land which a correct survey would disclose and which
are not shown by the public records.
3. Any lien for services, labor, or materials in connection with improvements, repairs or renovations
provided before, on, or after Date of Policy, not shown by the public records.
4. Any dispute as to the boundaries caused by a change in the location of any water body within or
adjacent to the land prior to Date of Policy, and any adverse claim to all or part of the land that
is, at Date of Policy, or was previously, under water.
5. Taxes or special assessments not shown as liens in the public records or in the records of the
local tax collecting authority, at Date of Policy.
6. Any minerals or mineral rights leased, granted or retained by prior owners.
7. Taxes and assessments for the year 2002 and subsequent years.
NOTE: Exception(s) numbered 1,3 & 5 above is/are hereby deleted.
8. Any lien as provided for by Chapter 159, Florida Statutes, in favor of any city, town, village or
port authority for unpaid service charges for service by any water, sewer or gas systems
supplying the lands described herein.
9. Subject to any unrecorded Leases.
Page 3
File No.: 1046-92103
First American Title Insurance Company
.. ,.'("
Issuing Office File No.: 1046-92103
Note: All of the recording information contained herein refers to the Public Records of Pinellas
County,Florida, unless otherwise indicated. Any reference herein to a Book and Page is a reference to
the Official Record Books of said county, unless indicated to the contrary.
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, Attention:
Claims Department, 2075 Centre Pointe Boulevard, Tallahassee, Florida 32308-3752.
Service. Oualitv and Availabilitv
First American Title Insurance Company cares about its customers and their ability to obtain information
and service on a convenient, timely and accurate basis, A qualified staff of service representatives is
dedicated to serving you. A toll-free number is available for your convenience in obtaining information
about coverage and to provide assistance in resolving complaints at 1-800-929-7186. Office hours are
from 8:30 a.m. through 5:30 p.m. Monday through Friday.
Page 4
File No.: 1046-92103