CARL M. KUTTLER JR TRUSTEE- ST PETERSBURG JUNIOR COLLEGE
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AFFIDAVIT OF OWNERSHIP
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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
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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.
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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.
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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,
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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).
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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.
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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)
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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
$19.50
.70
20.20
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$ 20.20
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DISTRICT ~ARD OF TRUSTEES OF
ST, PETERSBURG JUNIOR COLLEGE,
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AMERICAN LAND TITLE ASSOCIATION
OWNER'S POLICY (10-17-92)
(WITH FLORIDA MODIFICATIONS)
10 2441 106 00000023
14.
CHICAGO
TITLE
INSURANCE
COMPANY
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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,
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Issued by:
AKERMAN, SENTERFIIT, EIDSON, P,A,
100 S, ASHLEY DRIVE, SUITE 1500
TAMPA, FL 33602
(813) 223-7333
CHICAGO TITLE INSURANCE COMPANY
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ALTA Owner's Policy (10-17-92) (WITH FLORIDA MODIFICATIONS)
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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.
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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
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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
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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,
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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.
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Exhibit "A"
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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
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CONDITIONS AND STIPULATIONS
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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.
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(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
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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.
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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
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