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CARL M. KUTTLER JR TRUSTEE- ST PETERSBURG JUNIOR COLLEGE ::~ . e AFFIDAVIT OF OWNERSHIP e STATE OF FLORIDA COUNTY OF PINELLAS BEFORE ME, the undersigned notary public, personally appeared CARL M. KUTTLER, JR., who, having been first duly sworn according to law, represents, warrants, deposes and says: 1. He has personal knowledge of all matters set forth in this Affidavit, is over the age of 18 years, and is competent to make, execute, and deliver this Affidavit. 2, He is the President and the Secretary of the District Board of Trustee of the St. Petersburg Junior College, Florida (the "College"). The College is the owner of the fee simple title to certain real property (the "Property") situated in Pinellas County, Florida, legally described on Schedule "A", attached hereto and by this reference incorporated herein. 3, He has examined that certain Deed recorded in the public records of Pinellas County, Florida in Official Records Book 1085 at Page 549, a copy of which is attached hereto as Schedule B. 4. To the best of his knowledge, Affiant believes that the purchaser of the Property has been used continuously for public school purposes from the date of the deed, December 20, 1960, through December 20,1970. 5, This Affidavit is made and given by Affiant with full knowledge of applicable laws regarding sworn Affidavits and the penalties and liabilities resulting from false statements and misrepresentations therein. CARL FURTHER AFFIANT SAYETH NOT, 7J1.:; to and subscribed before me this day of Decemb~r, 2000 by CARL M. KUTTLER, JR. and ~ who is personally known to me or _ has produced a driver's license as identification ~.>I.~ (s~ature)A S "'\ . "tl/n e ~ I ~WJ J\f.-h.. (Type or Print Name) Notary Public / ! My Commission Expires: ~ 7 ():t My Commission Number is: #-CC il./tt '137 ~",\"I""",I,,1. ~,,'\ rl\e\a S, S,../II", ~ ()7l",........"'IIJ: ~ :s ".. SSION" V/ "'- ~ "'.\,~\ ,1:-,'. ~ ~ .o~ '7 'r~~ ~ ~ ."(3 ,..,,\\.5\ '<'a~' ~ ~ :::"''t:f;~ ~.~.. ~ = .~ l:P. :. :*: ... :*= ~~~ #CC749437 :~~ ~ ~.. ..~~ ~~.. l; ~UI~,~.' r;;j# ~.-';t- ..!bYf:., 1::'d.""~'.l>ViIf- """ A .. "In- ll5"';' <." '~'i: '~ 1/8, ....... ()'\ ~ "/11. 'Ltc ST"'~ ~,~ "'""illll\\\"''\ W:\A TTY\ASD\CLlENTS\City,ClearwaterlAffidavit /2 -01;/3-[ C {31 '<1..,,;, - e SCHEDULE "A" TO AFFIDAVIT Parcels of land lying within the Southwest 1/4 of the Southeast 1/4 of Section 7, Township 29 South, Range 16 East, Pinellas County, Florida and being further described as follows: Commence at the Southwest corner of the Southeast 1/4 of said Section 7; thence along the west line of said Southeast 1/4 NOoo41'47"E, for 50.00 feet to the north right-of-way line of Drew Street; thence along said right-of-way line S89040'19"E, For 542.36 feet to the POINT OF BEGINNING; thence leaving said line NOoo41'47"E, for 435.00 feet; thence S89040'19"E, for 761,22 feet to the west right-of-way line of Old Coachman Road; thence along said right- of-way line SOoo4T54"W, for 435.00 feet to the intersection with said north right-of-way line of Drew Street; thence along said right-of-way line N89040'19"W, for 760.45 feet to the POINT OF BEGINNING, Containing 330,959 square feet or 7.60 acres, more or less. AND Commence at the Southwest corner of the Southeast 1/4 of said Section 7; thence along the west line of said Southeast 1/4 NOoo41'47"E, for 485.00 feet to the POINT OF BEGINNING; thence continue along said line NOoo41'47"E, for 823.27 feet to the south right-of-way line of Sharkey Road (CR 289); thence along said right-of-way line S89053'02"E, for 1,305.10 feet to the intersection of with the west right-of-way line of Old Coachman Road; thence along said right-of-way line SOoo47'54"W, for 828.12. feet; thence leaving said line N89040'19"W, for 1303.58 feet to the POINT OF BEGINNING. Containing 1,076,937 square feet or 24,72 acres, more or less. ) -.::.... .' T-Z41 p, 0./05 HOZ ,; ,I 'I t : '. ;0 ; .;. ., ... ~' e e AFFIDAVIT OF OWNERSHIP STATE OF FLORIDA COUNTY OF PINELLAS BEFORE ME, the undersigned notary public, personally appeared CARL M, KUTTLER, JR., who, having been first duly sworn according to law, represents, warrants, deposes and says: 1. He has personal knowledge of all matters set forth in this Affidavit, is over the age of 18 years, and is competent to make, execute, and deliver this Affidavit. 2. He is the President and the Secretary of the District Board of Trustees of the St. Petersburg Junior College, Florida (the "College"). The College is the owner of the fee simple title to certain real property (the "Property") situated in Pinellas County, Florida, legally described on Schedule "A", attached hereto and by this reference incorporated herein, There are no other persons known to Affiant who have an ownership interest in the Property other than the College. 3. The College is not a foreign corporation, foreign partnership, foreign trust or foreign estate (as those terms are defined in the Internal Revenue Code and Income Tax Regulations) for purposes of United States income taxation and for purposes of disclosure under 26 U.S.C.A., Section 1445, The College is a political subdivision of the State of Florida. 4. The purchaser of the Property, the City of Clearwater, intends to rely on the foregoing representations in connection with the United States Foreign Investment in Real Property Tax Act (94 Stat. 2682, as amended), Affiant understands that this certification may be disclosed to the Internal Revenue Service by Purchaser and that any false statement contained in this certification may be punished by fine, imprisonment, or both, 5. To the best of Affiant's knowledge and belief, the College's title to and possession and enjoyment of the Property has been open, notorious, peaceable, and undisturbed, 6. To the best of Affiant's knowledge and belief, neither the College's title to nor possession of the Property have ever been disputed or questioned nor is Affiant aware of any facts by reason of which the title to, or possession of, the Property might be disputed or questioned or by reason of which any claim to the Property or any portion of it might be adversely asserted. 7, To the best of Affiant's knowledge and belief, there are no disputes concerning the location of the boundary lines of the Property as of this date but the Property is subject to those matters disclosed on the Boundary Survey of the Property prepared by Earl W, Ramer of King Engineering Associates dated June 27,2000. 8, To the best of Affiant's knowledge and belief, there are no outstanding or unpaid taxes or assessments (pending or certified) or any unpaid or unsatisfied mortgages, claims of lien, notices of commencement, unrecorded easements, contracts for sale, agreements for deed, deeds, or other matters that constitute or could constitute a lien or encumbrance against the Property or any part of it as of this date, except as noted in the commitment for title insurance issued by Chicago Title Insurance Company("Title Company") and Akerman, Senterfitt & Eidson, P.A., Title Commitment No. 200003494, dated November 22, 2000 at 11 :00 p.m. (the ''Title Commitment") and those referenced in that certain Agreement between the College and the City of Clearwater dated as of July 21, 2000 and the Agreement of even date herewith between the College and the City of Clearwater. 9, To the best of Affiant's knowledge and belief, there are no actions, proceedings, judgments, bankruptcies, liens, or executions pending or recorded among the Public Records of Pinellas County, Florida or any other county in Florida against the College which would affect the Property or the ability of the College to convey the Property. ...'t. e e 10, To the best of Affiant's knowledge and belief, all municipal liens, assessments, utility bills, taxes and charges due and payable with respect to the Property through the date of this Affidavit have been paid and there are no unpaid bills of any nature, either for labor or materials used in making improvements or repairs on the Property, or for services of architects, surveyors, or engineers incurred in connection with the Property, 11, To the best of Affiant's knowledge and belief there are no violations of municipal, county, or other regulatory ordinances, rules, or regulations pertaining to the Property. 12. Affiant has not received any notice from any governmental or quasi-governmental authority of any condemnation proceedings or threatened condemnation affecting the Property. 13, Affiant is not aware of any outstanding mineral rights, rights of first refusal, reverter interests, options, easements, or other adverse matters which have not been disclosed and excepted on the Title Commitment and those referenced in that certain Agreement between the College and the City of Clearwater dated as of July 21, 2000 and the Agreement of even date herewith between the College and the City of Clearwater. 14. Subsequent to November 22, 2000 at 11 :00 p.m" Affiant has not and he hereby agrees and represents that he will not execute any instrument, or do any act whatsoever, that in any way would or may affect the title to the Property, including but not limited to the mortgaging or conveying of the Property or any interest in it or causing any liens to be recorded against the Property except for those items referenced in that certain Agreement between the College and the City of Clearwater dated as of July 21, 2000 and the Agreement of even date herewith between the College and the City of Clearwater. 15. This Affidavit is made and given by Affiant with full knowledge of applicable laws regarding sworn Affidavits and the penalties and liabilities resulting from false statements and misrepresentations therein. 16, FURTHER AFFIANT SAYETH NOT, C Sworn to and subscribed before me this 7'f/L day of Decemg.er, 2000 by CARL M. KUTTLER, JR. and ~ who is personally known to me or _ has produced a driver's license as identification (check one). ~xl,~ (s~ature)/ S t:1J In e- tt ,S I'J? /~ (Type or Print Name) Notary Public ! / My Commission Expires: ~ 7 /0 a... My Commission Number is: #- {!,C 7 <.f 9 '-13/ ~"\\\lII"",,,,1. ~",\i. e\a S, Sill ?IIIJ! ~ <>?J.~....... 11# ~~ N: ... . SIO"'/ ..,. ~ ..,~~\S IV e,;.. ~ ~ ,-cSj ~~..\ 7, <'a~'" ~ .:: :::.. ~ ~ ~. ~ = ..:!' (f):*= :*: ..... : = - . . 'IIIl:['- ~a" #CC749437 :~~ ~::;..\.. .9:~ ~11: '. ;; 8ondadW.\~." o~ ~:)- A'~~ I'"aln-In~';' f< ~# ~11}"8LIC'S1~~~'~ 1111'"'11I1\\"\'\ t.;- .}" >_"1 W:\A TTY\ASD\CLlENTS\City,Clearwater\OWNERSHI 2 --=.." .' e e 0, . SCHEDULE "A" TO AFFIDAVIT OF OWNERSHIP Parcels of land lying within the Southwest 1/4 of the Southeast 1/4 of Section 7, Township 29 South, Range 16 East, Pinellas County, Florida and being further described as follows: Commence at the Southwest corner of the Southeast 1/4 of said Section 7; thence along the west line of said Southeast 1/4 NOoo41-47"E, for 50.00 feet to the north right-of-way line of Drew Street; thence along said right-of-way line S89040-19"E, For 542.36 feet to the POINT OF BEGINNING; thence leaving said line NOQo41'47"E, for 435.00 feet; thence S89040-19"E, for 761.22 feet to the west right-of-way line of Old Coachman Road; thence along said right- of-way line SOoo47-54"W, for 435.00 feet to the intersection with said north right-of-way line of Drew Street; thence along said right-of-way line N89040-19"W, for 760.45 feet to the POINT OF BEGINNING. Containing 330,959 square feet or 7.60 acres, more or less. AND Commence at the Southwest corner of the Southeast 1/4 of said Section 7; thence along the west line of said Southeast 1/4 NOoo41'47"E, for 485.00 feet to the POINT OF BEGINNING; thence continue along said line NOoo41'47"E, for 823.27 feet to the south right-of-way line of Sharkey Road (CR 289); thence along said right-of-way line S89053-02"E, for 1 ,305.10 feet to the intersection of with the west right-of-way line of Old Coachman Road; thence along said right-of-way line SOoo4T54"W, for 828.12. feet; thence leaving said line N89040-19"W, for 1303.58 feet to the POINT OF BEGINNING. Containing 1 ,076,937 square feet or 24.72 acres, more or less. :0" ,}" _0 --=- ;,;' ,.i e DATE: e CLOSING STATEMENT December 7, 2000 TRANSFEROR: DISTRICT BOARD OF TRUSTEES OF ST. PETERSBURG JUNIOR COLLEGE, FLORIDA TRANSFEREE: CITY OF CLEARWATER REGARDING: Conveyance of parcels situated in Pinellas County, Florida legally described on Schedule 1 attached hereto and by this reference herein. The conveyance is for a consideration of $10.00. TRANSFEROR'S STATEMENT: SALES PRICE $0.00 LESS SELLER'S EXPENSES: 0.00 Real Estate Tax Prorations - N/A TOTAL PRORATIONS: ($ 0.00) ~ NET PROCEEDS DUE TO TRANSFEROR AT CLOSING: TRANSFEREE'S STATEMENT EXPENSES: Recording Deed Documentary Stamps TOTAL DUE FROM TRANSFEREE AT CLOSING: DISBURSEMENTS: $ 20.20 Clerk of Court (Documentary stamps and recording fees) TOTAL DISBURSEMENTS: CITY OF CLEARWATER By,tJ~.~ William B. HORne TT As its Interim City Manager 0.00 $19.50 .70 20.20 .' $ 20.20 '~. ;, DISTRICT ~ARD OF TRUSTEES OF ST, PETERSBURG JUNIOR COLLEGE, :b~~~ / 2-:-()I! 3 - Ot} I e e As its President and Secretary W:\ATTY\ASD\CLIENTS\City.Clearwater\CLOSING.STA , J 2 ~ ....."-~ "':,- ~!~ " '!! I } ,~ r;~e.':-""" ~\"ijj!. . ;-; .~:",~ ,,,,,.,-,:.!!\\,-!!.~!, ~::::<: ~x:,... ,]\, i~~ .p.\"~IfJ' .ir,"!$.' ~-i:;: .Ur-i~. -' I!Hij!.. f,-m.. ~;..." AMERICAN LAND TITLE ASSOCIATION OWNER'S POLICY (10-17-92) (WITH FLORIDA MODIFICATIONS) 10 2441 106 00000023 14. 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 Missouri 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 the Date of Policy shown in Schedule A, the policy to become valid when countersigned by an authorized signatory, ~. ...!'\' '.' ,!II ':'t{. el'{j' .:&;. .~.. ~. ':.i" (W, !fl' '!o,~ '", '.j/f; .!',~ i"i.j '!o,~.. "~ ~, .,~ Issued by: AKERMAN, SENTERFIIT, EIDSON, P,A, 100 S, ASHLEY DRIVE, SUITE 1500 TAMPA, FL 33602 (813) 223-7333 CHICAGO TITLE INSURANCE COMPANY By; ,~ ~-/ ;f'/~. preSi:;:/ By: .' '\'i ~;~ "~i-i~" '~i i\ij. '~i-!t ALTA Owner's Policy (10-17-92) (WITH FLORIDA MODIFICATIONS) '----- '~ ;~ ':'1/ .!o,~ .:.~ ,~ i .t~ "*. '1/1 'Ii' ~id .:iJ ,~, 1< ~~. '.' 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) h!stricting, 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. I I ...- .. '~ I.. " I. ,1 " I I (, r...?". \..9) " J J'-\ \'J l. ~,' CHICAGO TITLE INSURANCE COMPANY OWNER'S POLICY FORM SCHEDULE A Policy No,: 10-2441-106-00000023 Commitment No.: 200003494 AS&E File Name and No,: City ofClearwater/St. Pete J.c. 11048-102263 Effective Date: December 19,2000 Amount ofInsurance: $4,337,000.00 1. Name ofInsured: City of Clearwater 2, The estate or interest in the land described herein and which is covered by this policy or guarantee is a fee simple and is at the effective date hereof vested in the named insured, 3, The land referred to in this policy or guarantee is described as follows: See Exhibit "A" attached hereto and by this reference incorporated herein, I the undersigned agent, hereby certify that: the transaction insured herein is governed by RESP A, Yes if Yes to the above, I performed all "core title agent services," Yes NoL NoL ISSUED BY: Akerman, Senterfitt & Eidson, P.A. 100 S. Ashley, Suite 1500 Post Office Box 3273 Tampa, Florida 33601-3273 (813) 223-7333 (?q~d oO~ AGENT'S SIGNATURE Valid Only If Face Page, Schedule B and Cover are attached, Schedule A - Page 1 of 2 Pages r .. '" , , ., : ~!~- I I CHICAGO TITLE INSURANCE COMPANY OWNER'S POLICY FORM SCHEDULE B Policy No.: 10-2441-106-00000023 Commitment No,: 200003494 AS&E File Name and No.: City ofClearwater/St. Pete J.C, 11048-102263 Effective Date: December 19, 2000 Amount ofInsurance: $4,337,000,00 This policy or guarantee does not insure against loss or damage by reason of the following exceptions: 1, Taxes for the year 2000 and any taxes or assessments levied or assessed subsequent to the date of this policy and taxes or assessments which are not shown as existing liens by the public records, 2, Rights or claims of parties in possession not shown by the public records, 3, Encroachments, overlaps, boundary line disputes, and any other matters which would be disclosed by an accurate survey and inspection of the premises, 4. Easements or claims of easements not shown by the public records, 5, Easement granted to Florida Power Corporation, recorded in Official Records Book 2354, page 152, of the public records of Pin ell as County, Florida, 6, Easement granted to Florida Power Corporation, recorded in Official Records Book 4532, page 523, of the public records of Pin ell as County, Florida, 7, Easement granted to City of Clearwater, recorded in Official Records Book 4683, page 2024, of the public records of Pin ell as County, Florida, 8, Drainage Easement granted to Pinellas County, recorded in Official Records Book 5387, page 1078, of the public records of Pin ell as County, Florida, 9, Distribution Easement granted to Florida Power Corporation, recorded in Official Records Book 6839, page 2015, of the public records of Pin ell as County, Florida, 10, Easement granted to Florida Power Corporation, recorded in Official Records Book 6839, page 2018, of the public records of Pin ell as County, Florida, 11, Distribution Easement granted to Florida Power Corporation, recorded in Official Records Book 6839, page 2029, of the public records of Pin ell as County, Florida, 12, Perpetual rights, easements and use agreements as referenced in that certain umecorded Agreement between the District Board of Trustees of the St. Petersburg Junior College, Florida (the "College") and the City of Clearwater (the "City) dated as of December 7,2000 by the College and dated as of December 18,2000 by the City. 13. The following matters as shown on Boundary Survey of the Ballfield Area; Boundary Survey ofField House; and Boundary Survey of Parking Area; all prepared by King Engineering Associates, Inc,; all dated June 27, 2000, and all bearing job no, 2134-009-002: A. As to Boundary Survey of Ballfield Area: Steel water mains, concrete ditch, concrete flume, water back flow preventor, ditch utility poles, fire hydrants and curbs on and along north boundary area of property, 2 , . " , f . , .~. I I CHICAGO TITLE INSURANCE COMPANY OWNER'S POLICY FORM SCHEDULE B (continued) Policy No,: Commitment No,: AS&E File Name and No,: 10-2441-106-00000023 200003494 Effective Date: December 19,2000 Amount ofInsurance: $4,337,000.00 City of Clearwater/St. Pete J.C, 11048-102263 B. As to Boundary Survey ofField House: Sidewalks, curbs, and utility poles on and along south boundary of property, C. As to Boundary Survey of Parking Area: Sidewalks, curbs, and utility poles on and along south boundary of property, Items 2, 3, and 4 are hereby deleted. W:\A TTY\ASDlCLIENTS\City.Clearwater\OWNERSpo1.wpd 3 .'" . . ',~ . -:' . l' "'... I Exhibit "A" I PARCEL 1: (Parking Lot Parcel) A parcel of land within the Southwest 1/4 of the Southeast 1/4 of Section 7, Township 29 South, Range 16 East, Pinellas County, Florida and being further described as follows: Commence at the Southwest corner of the Southeast 1/4 of said Section 7: thence along the West line of said Southeast 1/4 North 00041 '47" East, for 50,00 feet to the North right-of-way line of Drew Street; thence along said right-of-way line South 890 40'19" East, for 542,36 feet to the Point of Beginning; thence leaving said line North 00. 41 '47" East, for 435,00 feet; thence South 89040'19" East, for 761.22 feet to the West right-of-way line of Old Coachman Road; thence along said right-of-way line South 000 47'54" West, for 435,00 feet to the intersection with said North right-ot-way ot Drew Street; thence along said right-ot-way line North 89040'19" West, for 760.45 teet to the Point ot Beginning, PARCEL 2: (Baseball and Soccer Fields Parcel) A parcel of land lying within the Southwest 1/4 ot the Southeast 1/4 of Section 7, Township 29 South, Range 16 Ea1' Pinellas County, Florida and being further described as follows: Commence at the Southwest corner of the Southeast 1/4 of said Section 7; thence along the West line of said Southeast 1/4 North 00041 '47" East, for 485,00 feet to the Point ot Beginning; thence continue along said line NorTh 00041'47" East, for 823.27 feet to the South right-of-way line of Sharkey road (CR 289); thence along said right-of- way line South 890 53'02" East, tor 1,305,10 feet to the intersection ot with the West right-ot-way line of Old Coachman Road: thence along said right-of-way line South 00047'54" West, for 828.12 feet; thence leaving said Iin~ North 89040'19" West, for 1303,58 teet to the Point of Beginning, PARCEL 3: (Fieldhouse and Gym Parcel) A parcel ot land lying within the Southwest 1/4 of the Southeast 1/4 of Section 7, Township 29 South, Range 16 East, Pine lias County, Florida and being further described as follows: Commence at the Southwest corner ot the Southeast 1/4 of said Section 7; thence along the West line of said Southeast 1/4 North 000 41 '47" East, tor 50,00 feet to the North right-of-way line ot Drew Street; and also being the Point of Beginning; thence continue along said line North 00041 '47" East, for 435.00 feet; thence leaving said line, South 89040'19" East, for 542,36 feet; thence South 00041'47" West for 435,00 feet to the North right-of-way line o~ said Drew Street; thence along said right-ot-way line North 89040'19" West, for 542.36 feet to the Point of Beginnirj - ~ , I 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 knowl- edge 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 construc- tive notice of matters affecting the land, (d) "land": the land described or referred to in Schedule A, and improve- ments 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 noth- ing herein shall modify or limit the extent to which a right of access to and from the land is insured by this policy, (e) "mortgage": mortgage, deed of trust, trust deed, or other security instrument. (f) "public records": 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 1 (a)(iv) ofthe 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 liability 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 of 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 dam- age 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 con- tained 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 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. I (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 juris- diction 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 prose- cute 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 pro- ceeding, 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 obliga- tion 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 Condi- tions and Stipulations have been provided the Company, a proof of loss or damage signed and sworn 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 obliga- tion 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 reason- able times and places as may be designated by any authorized representative of the Company, all records, books" ledgers, checks, correspondence and memoranda, whether be;;lring a date before or after Date of Policy, which reasonably pertain to the loss or damage. Further, if requested by any author- ized representative of the Company, the insured claimant shall grant its per- mission, in writing, for any authorized representative of the Company to exam- ine, 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 Com- pany, 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 this paragraph 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 Payor Tender Payment of the Amount of Insurance. To payor 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 con- tinue any litigation, and the policy shall be surrendered to the Company for cancellation. (b) To Payor Otherwise Settle With Parties Other than the Insured or With the Insured Claimant. (i) to payor 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 payor otherwise settle with the insured claimant the loss or damage provided for 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, 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, prose- cute or continue any litigation, 7. DETERMINATION, EXTENT OF LIABILITY AND COINSURANCE This policy is a contract of indemnity against actual monetary loss or dam- age 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, 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 dam- age until there has been a final determination by a court of competent jurisdic- tion, 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 exe- cuted 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 endorse- ment of the payment unless the policy has been lost or destroyed, in which case pr~of 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 I _,_ ,Reorder Form No, 8218 (Rev, Hj-~/:92)' 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 respecttothe claim had this policy not been issued. If requested by the Company, the insured.9Jaimant 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 rig'\fs 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 reme- dies ii\ the proportion which the Company's payment bears to the whole amount.of the loss. '. If los~should result from any act of the insured claimant, as stated above, that act all not void this policy, but the Company, in that event, shall be required to ay only that part of any losses insured against by this policy which shall excee the amount, if any, lost to the Company by reason of the impair- ment by the i sured claimant of the Company's right of subrogation, (b) The Co pany's Rights Against Non-insured Obligors. The Compan 's right of subrogation against non-insured obligors shall exist and shall inc de, without limitation, the rights of the insured to indem- nities, guaranties, 0 her policies of insurance or bonds, notwithstanding any terms or conditions contained in those instruments which provide for subroga- tion 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. Arbitra- ble 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 Com- pany. 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 validating officer or authorized signatory of the Company, 16. SEVERABILITY 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 befurnished the Company shall include the number of this policy and shall be addressed to the Company at the issuing office or to: Chicago Title Insurance Company Claims Department 171 North Clark Street Chicago, Illinois 60601.3294 I .~:..