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LAWRENCE LEAHON - , I CITY OF CLEARWATER Interdepartment Correspondence Sheet TO: Cynthia E. Goudeau, City Clerk 11 M. A. Galbraith, Jr., City Attorney~' n E .r. v y 'V ,... '~""2,:..l.' LD FROM: RE: Purchase from Lawrence P. Leahon, Part of Lots 1i\UG 15 1990 and 18, E. A. Marshall's SUbdivision DATE: August 15, 1990 r"''!,r--~:"l\l'' (---IT 1:1.Dt'7' '-/4.... 'J.~-.L.,rLL<" The subject purchase was completed on July 20, 1990, and enclosed are the following documents: Contract for Sale and Purchase Copy of Settlement Statement Title Commitment # C-1422190 issued by Attorney'S Title Insurance Fund, Inc. Title Insurance Policy # OPM-490260 issued by Attorney's Title Insurance Fund, Inc. Warranty Deed Copy of Compliance and Tax Proration Agreement Affidavit of No Liens MAG: jmp Enclosures Copy: Daniel J. Deignan, Finance Director w/copy of Settlement Statement ,,~\r.,:_,,_>..;... ~,'; :-j;')~' '. . I . .,; IReturn to: Name Address PINELL.AS 1 INST:J: .... . .-...... 'U_'mUu Beth S. Wilson, Esq. P. O. Box 1020 Palm Harbor, FL 34682 COUNTY FLA. *** OFFICIAL RECORDS *** ~?~~ 1 97 0 ~7j 6.. I . ~~~(~~:~~~~'~3::5 ._.I~'~G E~. 61 6 .__ Property Appraiser s- 03-29-15-55548-000-0110 Parcel Identification No. This instrument was prepared by: Name BETH S. WILSON, ESQ. Address P.o. Box 1020 PALM HARBOR, FLORIDA 34882-1020 Grantee 5.5. No. Grantee 5.5. No. Name Name [Space above this line for recording data.] WARRANTY DEED (STATUTORY FORM - SECTION 689.02, F.S.) This Indenture, made this 20th day of July 1990, Between LAWRENCE P. LEAHON, TRUSTEE UfT DATED MAY 1, 1989 of the County of Pine lIas , State of Florida CITY OF CLEARWATER, FLORIDA whose post office address is P.O. Box 4748, Clearwater of the County of Pinellas , State of Florida Witnesseth that said grantor, for and in consideration of the sum of Ten , grantor", and 34618 and no/lOO , grantee", Dollars, and other good and valuable considerations to said grantor in hand paid by said grantee, the receipt whereof is hereby acknowledged, has granted, bargained and sold to the said grantee, and grantee's heirs and assigns forever, the following described land, situate, lying and being in Pinellas County, Florida, to-wit: ~. tOlt.!) . (QxO ~ ~ <:blC' {. Y-J (See Exhibit "A" attached hereto and made a part hereof) ."V_ .... -.~ -'rfE': Subject to easements and restrictions of record. Ir{~, Subjext :B3J.Q6 '~d. .~ to taxes for the year 1990 and all subsequent years. J......... g;)ro9.6:5 !~>,." ,.."~.?".,Cb~'.. and said grantor does hereby fully warran~ t~~ i1t1: to said land, and will defend the same against the lawful claims of all persons whomsoever. ""Grantor" and "grantee" are used for singular or plural, as context requires. Witness Whereof, grantor has hereunto set grantor's ne seal d e 'vered in our presence: year first above written. (Seal) May 1, 1989. (Seal) (Seal) (Seal) KARLEEN F. DEBL.AKER, CLERK STATE OF FLORIDA JI...Y 20, 1990 7: 46PM COUNTY OF PINELLAS-.------. ... _.__u____ I HEREBY CERTIFY that on this day before me, an officer duly qualified to take acknowledgments, personally. Clpp~ar~d LAWRENCE P. LEAHON, TRUSTEE ./ to me known to be the person(s) described in and who executed the foregoing instrument and acknowleQ~ed'.be~re rneJhat -.he executed the same. .' J . ....',.; /; ~~ WITNESS my hand and official seal in the County and St . 2 h day of Jlfly: ,1990'. . di(:, "\" ./<;. c (; ,,' My commission expjres: . '''-...m t-J;;,tarV Pi.l~!i!, 5ti:tc of Florida My Commissioll Ex~ir~. Juno 30, 1fil -~- lu.~.i J!JI~ JIQY f.iq: IllJur.nre /ffi " ... It ti' ~o.'# I gf:. COHrlS'> )\< '* *- *i* OFFICl01... P/'GE. b1.7 1"800\<.. 7~~3..~ EXHIBIT "A" The South One-Half of Lot 11 of E.A. MARSHALL SUBDIVISION as recorded in Plat Book 3, Page 44, Public Records of Pinellas County, Florida, together with that part of Lot 18 of said subdivision being further described as follows: Begin at the Northeast corner of said Lot 18 for the point of beginning, said point also being on the South Right-of-Way line of State Street, a thirty (30) foot Right-of-Way; thence along the East line of said Lot 18, S 00014'29" E, 154.82 feet; thence leaving said line the following three (3) courses: 1. S 77054'29" W, 152.17 feet; 2. S 68046'43" W, 132.52 feet; 3. S 65017'22" W, 62.11 feet to a point on the West line of said Lot 18; thence along said West line N 00013' 19" W, 265.00 feet to the Northwest corner of said Lot 18, said point also being on the aforementioned South Right-of-way line of State Street; thence along said line S 89014'20" E, 329.15 feet to the aforementioned point of beginning. 1'"'00' 3' 4 ....M'" n!7 "'0 M"'. ,;,:, ,,: -.;.,- L.. it. At :j, i.. '_ . - ....1 -1U , ; ""."" '." 01 RECORDING t ~t0,~G DOC STAMPS ? ~r,LS;. :=;:~. itlT^l' · !i ':,: i, I . - ".- -...., ~~"Di::;U;; t. !:: '~81~!1, fjl ~[\ [rC' P CHECK AMT. TENn~R~D: !"H "~I'-""'. \. Itl\' t'f I /~.2, /) 1;Z,.~~3-f2/ \ ", /. \ . f, I J (' ,.' , I -/7 ' ,/,J( 1'-'1,,' ~ / I; 1, Ii .-, Jo I,L) I ':A.~...,t..1.-~)!. . LV.\..)L...{...-,..oI;.. .. t \ '~A, ~ . ) D'H.";:, f;t..e/f''-A(Ce( U I~LP} (.ff) , 'J 'I' // ~ ..~' , . , , II//It/'. . .:,//...., / \" " "'';;:;/O--:J -#'.. :1;. " ) . / /_ "I(;~':.e/;~tfJ(t.>J~.i_.'.' _' . /.." [.~. ~ If ,~ '-.....' ' " .- J ,. 'i! . ,.,..' . ,-/..... ,/iclt.1!. (. r . / ;(.f . "', (1! ""__ I I .~ COMPLIANCE AND TAX PRORATION AGREEMENT RE: LEAHON to CITY OF CLEARWATER, FLORIDA The undersigned hereby agree that all conditions and stipulations of the Contract for Sale, dated March 6, 1989, have been met and that all necessary pertinent documents have been supplied and approved, and that all contingencies have been met. 1. The termite report done by n/a , dated , has been supplied to the purchaser and he has read, understands and accepts the report as presented. It is agreed by the undersigned and understood that Wilson, Wilson & Long, P.A., as agent for Attorneys'Title Insurance Fund has not ordered said report and that they will not hold Wilson, Wilson & Long, P.A., as agent for Attorneys' Title Insurance Fund liable for the accuracy or sufficiency of the contents of said report. 2. That all utility bills (and condominium assessments, if applicable), including but not limited to water, sewer, gas, garbage, and electric are the responsibility of the parties involved in this transaction and not that of the closing agent, Wilson, Wilson & Long, P.A., as agent for Attorneys' Title Insurance Fund. All matters in regard to the said matters will be handled outside of closing even if such matters appear on the closing statement. 3. That each party will adjust for clerical errors if deemed necessary. fully cooperate with the other to on any or all closing documentation, 4. Seller acknowledges that the pay-off statements received by Wilson, Wilson & Long, P.A. from current mortgagees may be subject to said mortgagee's final audit after receipt of pay-off funds resulting in a demand by said mortgagee for additional funds and Seller upon request agrees to forward said funds forthwith. 5. That the pro-ration of taxes as shown by the closing statement of this date has been made on the basis of: *** X Taxes for the previous year, adjusted by a four percent (4%) discount allowed for the prepayment thereof, and assuming the same exemptions to be allowable for the current year; or, Taxes for the previous year on unimproved land, where improvements now exist and the new assessment is not yet available; or, An estimate of current year's tax, based on the latest information available with regard to applicable millages, assessed valuation and exemption allowed; or, No tax pro-ration has been made. 6. Any tangible tax bills, whether assessed at time of closing or not, will be the responsibility of Buyer(s) and Seller(s) outside of closing and Wilson, Wilson & Long, P.A. will not be responsible for payment of any said tangible tax bill even if such pro-ration appears on said closing statement. 7. That it is understood by the Buyer(s) and Seller(s) with respect to tax pro-ration that one of the following shall apply: Both parties have accepted such pro-ration as a final determination of liability for taxes between the parties and not subject to further adjustments; or, X When current year's tax bills are received the parties will make such further adjustments a might be indicated by such figures. This adjustment will be made directly between the parties, and not through the offices of Wilson, Wilson & Long, P. A.; or, The amount of taxes cannot now be ascertained. *** The total tax for Lot 11 has been prorated. been prorated based upon 31.2%. The tax for Lot 18 has I I The undersigned agree to those figures as set forth on the settlement statement thereby authorizing Wilson, Wilson & Long, P.A., as agent for Attorneys' Title Insurance Fund to disburse those funds in accordance with said statement and will hold Wilson, Wilson & Long, P.A., as agent for Attorneys' Title Insurance Fund harmless by reason of such disbursements. c;(;::' ~ ;/. ( Seller) , 1990. (Seller) CiTY! oF (2Q~J.4 TER- fLuo2L]),{ I (BUY. er) . d,. /" " ( 6UI,.~ ~ (Buyer) C~1 ~7 PURCHASER'S FORWARDING ADDRESS SELLER'S FORWARDING ADDRESS 31608 U.S. Hwv. 19 N. P. o. Box 4748 Palm Harbor, FL 34684 Clearwater, FL 34618 I I AFFIDAVIT OF NO LIENS STATE OF FLORIDA COUNTY OF PINELLAS Commitment C-1422190 LAWRENCE P. LEAHON. as Trustee U/T date Mav 1. 1989, being first duly sworn, deposes and says that: 1. Affiant is the owner of those premises known as: and legally described as: (See attached legal description) 2. Affiant has possession of the property, and there is no other person in possession who has any right in the aforesaid property. 3. No "Notice of Commencement" has been recorded or posted affecting the aforesaid property, and there are no unrecorded labor, mechanics, or materialmens I liens against the property, and no material has been furnished to or labor performed upon the aforesaid property which has not been paid for in full. 4. There are no unpaid bills, liens or assessments, for sanitary sewers, paving or other public utilities, or improvements made by any governmental instrumentality, and that no notice has been received for any public hearing regarding future or pending assessments for improvements by any governmental instrumentality, which are now unpaid against the aforesaid property. 5. There are no unrecorded easements or rights-of-way for users or adverse interests with respect to the aforesaid property. 6. Affiant is the owner of, and there are no claims whatsoever of any kind or description against, the furniture, fixtures, equipment and personal property located in the improvements on the aforesaid property. 7. There are no existing contracts for sale or mortgage commitments other than those being closed affecting the aforesaid property. 8 . There are no judgments, liens, mortgages or other cIa ims recorded, or unrecorded, against the aforesaid property, other than those shown in the above referenced commitment. THIS AFFIDAVIT is made for the purpose of inducing Attorneys I Title Insurance Fund and WILSON, WILSON & LONG, P.A. their agent, to issue a title insurance policy on the above described property, and to disburse. ~e/; ~ ~ SWORN TO AND SUBSCRIBED before me this 1990. iI4.;::.;Li'~~'V ~\;~: ~'>'::, 20th day of Julv My cominission expires: My (c,n:l',:, ":0.', , . U.'q..i;,... "'oil: :, '. .! ,.-~. '\. ~ I J EXHIBIT "A" The South One-Half of Lot 11 of E.A. MARSHALL SUBDIVISION as recorded in Plat Book 3, Page 44, Public Records of Pinellas County, Florida, together with that part of Lot 18 of said subdivision being further described as follows: Begin at the Northeast corner of said Lot 18 for the point of beginning, said point also being on the South Right-of-Way line of State Street, a thirty (30) foot Right-of-Way; thence along the East line of said Lot 18, S 00014'29" E, 154.82 feet; thence leaving said line the following three (3) courses: 1. S 77054'29" W, 152.17 feet; 2. S 68046'43" W, 132.52 feet; 3. S 65017'22" W, 62.11 feet to a point on the West line of said Lot 18; thence along said West line N 00013' 19" W, 265.00 feet to the Northwest corner of said Lot 18, said point also being on the aforementioned South Right-of-Way line of State Street; thence along said line S 89014'20" E, 329.15 feet to the aforementioned point of beginning. CONTRACT FOR SALE AND PURCHASE PARTIES: Lawrence P. Leahon ul dated Ma 1 1989 of 30608 U.S. Highway 19 North, aim Harbor, Florida (Phone . end Citv of Clearwater. Florida of P.O. Box 4748, Clearwater. Florida 34618 (Phone hereby egree thet the Seller shell sell end Suver ahell buy the following propeny upon the following terms end conditions WHICH Reel Estate Transactions on the reverse hereof or attached hereto; hereinafter referred to as "Standard(s)" . I. DESCRIPTION: (e) Legal description of reaP estate located in Pine lias County. Florida: The South t of Lot 11 and that portion of Lot 18 lying North of an existing drainage ditch running Northeast to Southwest, less roadways,in the E.A. Marshall's Subdivision, as recorded in Plat Book 3, Page 44, of the Public Records of Pinellas County, Florida. Containing 4.1 acres More or Less. (b) Street address. if any. of the property being conveyed is NI A (c) Personal property included: NI A II. BAR/FAR Form No. 2 . 8S "Seller" , 785-5088 ), . as "Suyer", 462-6638 ), INCLUDE the Standards For PURCHASE PRICE: . . . . . . . . . . . . . . . . . . . . . . .. . . . . . PAYMENT: (a) Deposlt(s) to beheld in escrow by Wilson. Wilson & Long, P.A. ;k.$ 164,000.00 Trust Account * in the amount of. . . . .$ 5,000.00 (b) Subject to AN D assumption of Mortgage in favor of bearing interest at % per annum and payable as to principal and interest $ per month, having an approximate presant principal balance of. . .. $ (c) Purchase money mortgage end note baaring intarast at % on tarms set forth herain below, in the principal amount of . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ;'. . . . . . . .$ ~ OthM $ (e) Balance to close, (U.S. cash. certified or cashler'scheck) subject to adjustments end prorations. . .$ TOTAL .$ N/A N/A N/A 159,000.00 164.000.00 III. ~.j.N.A.N.G.I NS~1-f4~.pr;.iG8-Q<-.....p"'""~,,e4-;"'~~aneeEl-Oy_~"'~"',-doHe-G_"e+-f....oe~~~enete'r "arllin-eMel':'<"e'Ie~..!t- =;r"""'l!~,:::l;:~I:l;~R1!Il:I:::u;l~~:8l:I":ul;~:a=f#~~IR:::ftI""AlIIl=l-=wlOlm=======~=f_~~.~'lFIFFl\'RR'lfIA'iJ9:;r,'lFA'lJ~ll'l!llRf= ======~?W~~====~~===~~~____~~================~~~...~~aq~~~~~~~ ~.~~~= -=e:le::fl:l!tt8:i:ft:sala:kl:llIb:&e~a.w.sf::1ili!:~~fBe.:Iitl!:~~_':I::I!:i~ 1!ldIlIl!:-otII~ai=:l!:iIlllll:,:adMf",~~=eI::Golo~~= IV. TITLE EV IDENCE: Within 1 'i days from date of Contract. Seller shall. at his expense. deliver to Buyer or his attorney. in accordance with Standard A, either (CHECK) 0(1) or. IX (2): (1) abstract. or (2) title Insuranca commitment with fee owner's title policy premium to be paid by Seller at closin~ V. TIME FOR ACCEPTANCE AND EFFECTIVE DATE: If this off~r is not uecuted by both of the parties hereto on or before. June 25, 1 90 the aforesaid deposltls) shall be, at the option of Buyer, returned to him and this offer shall thereaftar ba null and void. The date of Contract shall be the dete when the last one of the Seller and Buyer has signed this offer. VI. . CLOSING DATE: This transection shall be closed end the deed and other closing papers delivered on the 20th day of' Jul V 19 90 , unless extended by other provisions of Contract. VII. RESTRICTIONS. EASEMENTS. LIMITATIONS: The Buyer shall take title subject to: Zoning. restrictions. prohibitions and other requirements imposed by governmental authority; Restrictions and maners appearing on the plet or otherwise common to the subdivision; Public utility easements of record. (prOVided said easements are located contiguous throughout the property lines end are not mOre than 10 feet in width as to the rear or front lines and 7Yo feet in Width as to the side lines; .unless otherwise specified herein); Taxes foryeer of closing and subsequent years. assumedmongages and purchase money mongages. if any; other: Barks & Recreation provided. however. that none of the foregoing shall prevent use of the propeny for the purpose of VIII. OCCUPANCY: Seller represents that there are no parties in occupancy other than Seller. but if property is intended to be rented or occupied beyond closing.. the fact and terms thereof shall be stated herei.n. and the tenant(s) shall be disclosed pursuant to Standard G. Selier agrees to deliver occupancy of property at time of closing unless otherwise specified below. If occupancy is to be delivered prior to closing, Buyer assumes all risk of loss to property from date of occu- pancY,shall be responsible and liable for maintenance thereof from said date. and shall be deemed to have accepted the property, real, end personal. in its existing condition as of time of taking occupancy unless otherwise noted in writing. IX. ASSiGNABILITY: (CHECK ONE) .Buyer Omay assign ~may not assign. Contract. X. TYPEWRITTEN OR HANDWRITTEN PROYISIONS: Typewritten or handwritten provisions inserted herein or attached hereto as Addenda shall control all printed provisions in conflict therewith. "1.',:,:. XI. SPECIAL CLAUSES: * 1. The purchase price is to be adjusted to reflect $40,000.00 per acre based on the buyer obta1ning a survey of the property to be purchased. . 2. The deposit is to be made within five (5) working d3i~. of contract approval by both partles. 3. The Seller agrees to honor this offer to sell until June 25, 1990. ---------------- THIS IS INTENDED TO BE A LEGALLY BINDING CONTRACT. IF NOT FULLY UNDERSTOOD, SEEK THE ADVICE OF AN ATTORNEY PRIO R TO SIGNING. THIS FORM HAS BEEN APPROVEO BY THE FLORIDA ASSOCIATION OF REALTORS AND THE FL~IDA B~R Copyright 1978 by The Florida Bar and the Florida Association of REA L TO RS By; -(SEAL) (SEAL) (SEAL) (Seller) StQ~ ~ YIb , , pensation In the amount of % of gross purchase price for his services in effecting the sale by finding a Buver, readv, willing and able to pu ursuant to the foregOing Contract. In the event Buyer fails to perform and deposit(s) Is retained. 50% thereof, but not exceeding the Broker's e computed, shall be paid to the Broker. as full consideration for Broker's services including costs expended by Broker, and the balance shall b . eller. 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AJeWOlsn:J aq Aew se C11ep JeH~1 Ll:>ns JO 'spJO:>CiJ ::>!Iqnd lS8!peCl C1~1 L.ll~M B:JU8WUJO:J IWLlS 1:>t:J1sqC' vV' .1:>CJlUO:J to f'I1f?p L16nOJLp 'paH~nl!S S! f)uel ~Ul lJi~JHuf\r\ ~'uno:> "~1.0 SPlO:>"J :>llqnd 941 UI papJo:>aJ A1JadoJC IC"J ::>"Iqns 01 "1111 a~l 6Ull~a!j(! .wau""U1S,JI eYl ~O SISdOllAs aleJ!l~:>E liP aq 01 lillll'OdJnd (lUJI! VU'~SIX< liP q l~BJJO:> se P8!t !lJa~ UClLll 5u llS~ Xf'l 10U I!) WJ!t l:>eJlSOE' 6Ul1S~ X8 pue alqel nd8J Eo' ^Cl ]1l8.JJ n:! 1 ubnOJ q .III p8JPrl8JO ail!l ~o ~ U':1 [II 311_1 J. ::-i 0 3:) h! ~ Co I /\:J . ~ A. ,Se.ttlement Statement I U,S. Department of Housing and Urban Developm1t ~ ,r OMS No. 2502-0265 (Exp. 12-31-86) B. T e of Loan 1. 0 FHA 2. 0 FmHA 3. 0 Conv. Unlns. 4.0 VA 5.0 Conv. Ins. Not 6. File Number 7. Loan Number 6. Morloeoe Insurance Cese Number None None C. Note: This form Is furnished to give you a statement of actual settlement costs. Amounts paid to and by the settlement. agent are shown. Ilems marked "(p.o.c.)" were paid outside the closing; they are shown here for Informational purposes and are not included In the totals. D Name and Address 01 8oHowlll- Buyer City of Clearwater, FL P.O. Box 4748 Clearwater, FL E. Name and Address 01 Seller F. Neme and Addrass 01 Lender 34618 Lawrence P. Leahon, Trustee U/T dated 5/1/89 31608 U.S. 19 North Palm Harbor, FL 34684 Not Applicable G. Properly Location S~ of Lot 11 and part of Lot 18 E.A. Marshall Subdivision H. Selllement Agent Wilson, Wilson & Long, P.A. Piece 01 Selllemenl I. Setllemenl Dale 7-20-90 J. Summary of Borrower's Transaction 100. Gross Amount Due From Borrower 101. Contract sales rice 102. Personal ro ert 103. Settlement char es to borrower 104. 105. K. Summary of Seller's Transaction 400. Gross Amount Due To Seller 1 58080 . 00 401. Contract sales rice 402. Personal ro ert 10 . 50 403. 404. 405. 158080.00 106. 107. 108. 109. 110. 111. 112. Ad'ustments for CIt /Iown taxes Count taxes Assessments b seller In advance Ad ustments for 406. Cll /town taxes 407. Count taxes 408. Assessments 409. 410. 411. 412. Items to to to b seller In advance 120. Gross Amount Due From Borrower 1 58090 . 50 420. Gross Amount Due to Seller 158080.00 mounts a IY r n e a orrower 00. Reduct ons In mount Due To e ler 201. Deposit or earnest money 5000.00 501. Excess deposit (see instructions) 202. PrinCipal amount of new loan(s) 502. Settlement charces to seller (line 1400) 1954.55 203. Existing loan(s) taken subject to 503. Existina loan(s) taken subject to 204. 504. Payoff of first mortaage loan 205 505. Pavoff of second morloaoe loan 206. 506. 207. 507. 208. 508. 209. 509. Adjustments for items unpaid by seller AdJustments for Items unpaid by seller 210. City/lown taxes to 510. City/town taxes to 211 County taxes1 / 1 / 9 0 to 7/20/90 1 1 517.36 511. County taxes 1 / 1 /9 ao 7 /20 /90 11 517.36 212 Assessments to 512. Assessments to 213raxes 1/1/90 to 7/20/90 18 305.84 513.Taxes 1/1/90 to 7/20/90 305.84 214 514. 215. 515. 216. 516. 217. 517. 218 518. 219 519. 220. Total Paid By/For Borrower 5823.20 520. Tolal Reduction Amount Due Seller 2777.75 200 A P Jd B 0 I B h If Of B 5 A SI 600, 60l. 602. 300. 301. 302 303. Cash [Xl From o To Borrower 1 5 2 2 6 7 . 3 0 603. Cash &(] To o From Seller 155302.25 I have carefully reviewed the HUD-1 Settlemenl Statement and to the best of my knowledge and belief. it is a true and accurate statement 01 all receipts and disbursements made on my account or by me in this transaction. I further certify that I have received a copy 01 the HUD.1 Setllement Statement. ~u..< ,LJ~ -U.k'-&; "'''~'{~~e P. Le~u5tee accurate account of this transaction. I have caused or will cause the funds 10 be disbursed uy UD-l Settlement Statement which I ance with this statement. '7 - 'Zo - qo Th In OATE [}1 ]A:J If$'O / H U D.1 (3-86) RESPA. HB 4305.2 I I 9,:-S38 ~,,',',~ ',"""",' .",. 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UO!SSIWWOO JO UO!S!^!O $ aop uo pasBq uOlsSIWWOO s,JaljOJ8/SaI8S 18101 'OOL sa JB40 luawalllas " (ge/S) '^aCj l'OnH .(::. R.JND FORM C (American Land Title Association Commitment - 1966Rev.) COMMITMENT Attorneys' Title Insurance Fund, Inc. ORlANDO, FLORIDA Commitment To Insure Title ATTORNEYS' TITLE INSURANCE FUND, INC., a Florida corporation, herein called The Fund, for a valuable consideration, hereby commits to issue its policy or policies of title insurance, as identified in Schedule A, in favor of the proposed Insured named in Schedule A, as owner or mortgagee of the estate or interest covered hereby in the land described or referred to in Schedule A; subject to the provisions of Schedules A and B and to the Conditions and Stipulations hereof. This Commitment shall be effective only when the identity of the proposed Insured and the amount of the policy or policies committed for have been inserted in Schedule A hereof by The Fund, either at the time of the issuance of this Commitment or by subsequent endorsement. This Commitment is preliminary to the issuance of such policy or policies of title insurance and all liability and obligations hereunder shall cease and terminate six months after the effective date hereof or when the policy or policies committed for shall issue, whichever first Occurs, provided that the failure to issue such policy or policies is not the fault of The Fund, In Witness Whereof, ATTORNEYS' TITLE INSURANCE FUND, INC. has caused this Commit- ment to be signed and sealed as of the effective date of Commitment shown in Schedule A, the Commitment to become valid when countersigned by an authorized signatory, Attorneys' Title Insurance Fund, Inc. Charles J. Kovaleski President SERIAL c- 1422190 ( 1 .luawHwwOJ S~l[l JO SUO~S~AOld al[l Ol pa[qns alt? put? UO past?q aq lsnw luawHwwoJ s~l[l Aq palaAOJ uoalal[l a~t?~pow al[l JO snlt?lS al[llo lsalalu~ 10 alt?lsa al[l Ol allH al[l JO snlt?lS al[l JO lno ~u~spt? punt! al[.L lSU~t?~t? '3upq At?W 10 aAt?l[ At?W pamsuI pasodold al[llt?l[l UOHJt? JO Sll['3p 10 SUO~pt? 10 UO~pt? A\IV 'v .u~alal[ pampow AIssaldxa St? ldaJxa luawHwwoJ s~l[l JO pt?d t? apt?w alt? put? aJUalaJal Aq palt?lodlOJU~ Aqalal[ alt? l[J!l[M pam sUI pasodold al[l JO 10At?J U! 10J pamWWOJ saPHod 10 AJHod JO WIOJ al[l JO SUOHt?{ndHS put? suolHpuoJ al[l put? a'3t?laAoJ wo.IJ suo~snpx3: al[l'SUO!S~AOld '3upnsu~ al[l ol pa[qns s~ Almqt?H l[Jns put? 10J pamWWOJ saPHod 10 AJHod al[lloJ V a{npal[JS U! paWlS lunowt? al[l paaJxa Almqt?H l[Jns Ht?l[s luaAa ou uI .luawHwwoJ S!l[l Aq palaAOJ uoalal[l a'3t?'3pow 10 lsalalu~ 10 alt?lsa al[l alt?alJ 10 a.I!nbJt? Ol (J) 10 'g a{npal[JS u~ UMOl[S sUOHdaJxa alt?u~wHa Ol (q) 10 'Joalal[ sluawal~nbal al[l l[HM A{dWOJ Ol (t?) l[Ht?J poo'3 u~ '3up{t?papun u~ uoalal[ aJut?Hal u~ palmJU~ SSO{{t?npt? lOJ A{UO put? 10J pamWWOJ saPHod 10 AJHod JO WIOJ al[l u~ pamsuI JO uO~HuHap al[llapun papnpu~ saHlt?d l[Jns put? pam sUI pasodold pawt?u al[l Ol A{UO aq Ht?l[s luawHwwoJ S!l[llapun punt! al[.L JO Almqt?q .€ 'suoHt?IndHS put? suolHpuoJ asal[l JO € l[dt?l'3t?lt?d ollut?nsmd pallnJU~ A{SnO~Aald Almqt?H wO.IJ punt! al[.L aAaHallou Ht?l[s luawpuawt? l[Jns lnq 'A{'3U~plOJJt? luawHwwoJ s~l[l JO g a{npal[JS puawt? At?W UOHdo Sl~ It? punt! al[.L 'lant?W lal[lO 10 W~t?p aSIa Apt? 'aJut?lqwnJUa 'uaH 'paJap l[Jns AUt? JO a'3pa{MOU){ {t?npt? sa.I!nbJt? aS~Mlal[lo punt! al[.L J~ 10 'punt! al[.L Ol a~pa{MOU){ l[Jns asops~p Ht?l[S pamsuI pasodold al[l JI .a'3pa{MOU){ l[Jns asops~p OS Ol amut?J Aq paJ~pn[ald s~ punt! al[.L lualxa al[l Ol uoalal[ aJut?Hal JO pt? AUt? WO.IJ ~uHlnsal a~t?wt?p 10 SSO{ AUt? 10J Almqt?H WO.IJ paAaHal aq Ht?l[s punt! al[.L ~UlHIM u~ punt! al[.L Ol a'3pa{MOU){ l[Jns asops~p Ol Ut?J Ht?l[s put? 'Joalal[ g a{npal[JS U! UMOl[S asol[l ut?l[llal[lo luawHwwoJ s~l[l Aq palaAOJ uoalal[l a~t?~pow 10 lsalalu~ 10 alt?lsa al[l '3u~paJ}t? lant?W lal[lO 10 W~t?p aSlaApt? 'aJut?lqwnJUa 'uaH 'paJap AUt? JO a'3pa{MOU){ {t?npt? sal~nbJt? 10 st?l[ pamsuI pasodold al[l JI 'Z 'luawnllsu~ AlpnJaS lal[lO 10 'paap lsnll 'lsnll JO paap apnpu~ Ht?l[S 'u~alal[ pasn ual[M "'a'3t?'3pow,, wlal al[.L .1 sUOHeJ11dHS pue SUOHWUO:) .splOJal JHqnd al[l Aq UMOl[S lOU put? Mt?{ Aq pasodw~ 'pal[s~uIllJ lal}t?alal[ 10 aloJOlalal[ {t?palt?W 10 'lOqt?{'SaJ~AlaS 10J 'uaH t? Olll['3p 10 'uaH AUt? (S) ~SplOJal JHqnd al[l Aq UMOl[S lOU 'Sluawast?a JO SW~t?p 10 'sluawast?a (v) ~sas~wald al[l JO uo~padsu~ put? AaAms alt?mJJt? ut? Aq pasops~p aq p{nOM l[J~l[M Slant?W lal[lo AUt? put? 'salnds~p aUH Alt?punoq 'sdt?{laAo 'Sluawl[Jt?olJUa (€) ~SplOJal JHqnd al[l Aq UMOl[S lOU uo~ssassod u~ sa~pt?d JO SW~t?p 10 Sll['3p (Z) ~SplOJal JHqnd al[l Aq suaH '3uHs~xa st? UMOl[S lOU alt? l[J~l[M sluawssasst? {t?pads 10 saxt?l put? luawHwwoJ s~l[l JO alt?p aAHJaJ}a al[l JO It?aA al[lloJ saxt?l (0 :suoHdaJxa '3u~MoHoJ al[l Ol pa[qns aq lHM saPHod HV "}oalal[ g a{npal[JS JO I uo~pas JO OMl waH lapun palou 'AUt? J! 'a~t?'3pow al[l Ol pa[qns aq lHM AJHOd laUMO al[.L SUOHdaJxtI plepuelS ," I FUND COMMITMENT FORM I SCHEDULE A C-1422190 1990 Agent's File Reference: RE 134-901 Commitment No.: Effective Date: 1. Proposed Amount of Insurance OWNER'S: OPM $ 158,080.00 Proposed Insured: CITY OF CLEARWATER, FLORIDA MORTGAGEE: $ Proposed Insured: 2. The estate or interest in the land described or referred to in this commitment is a fee simple (if other, specify same) and title thereto is at the effective date hereof vested in: LAWRENCE P. LEAHON, AS TRUSTEE UfT DATED MAY 1, 1989 3. The land referred to in this commitment is described as follows: (See attached legal description) ISSUED BY BETH S. WILSON WILSON, WILSON & LONG, P.A. (Anorney or Firm of Attorneys) 8234 AGENT NO. ;1 f .~ )12" -C~~ ATTORNEY -AGENT'S SIGNATURE P. O. Box 1020 (Mailing Address) Palm Harbor (City) Florida 34682 (Zip) FUND Form C-SCH. A (M08-023) I I LEGAL DESCRIPTION The South One-Half of Lot 11 of E.A. MARSHALL SUBDIVISION as recorded in Plat Book 3, Page 44, Public Records of pinellas County, Florida, together with that part of Lot 18 of said subdivision being further described as follows: Begin at the Northeast corner of said Lot 18 for the point of beginning, said point also being on the South Right-of-Way line of State Street, a thirty (30) foot Right-of-Way; thence along the East line of said Lot 18, S 00014'29" E, 154.82 feet; thence leaving said line the following three (3) courses: 1. S 77054'29" W, 152.17 feet; 2. S 68046'43" W, 132.52 feet; 3. S 65017'22" W, 62.11 feet to a point on the West line of said Lot 18; thence along said West line N 00013' 19" W, 265.00 feet to the Northwest corner of said Lot 18, said point also being on the aforementioned South Right-of-way line of State Street; thence along said line S 89014'20" E, 329.15 feet to the aforementioned point of beginning. J I . FUND COMMITMENT FORM SCHEDULE B Commitment No.: C.,.1422190 I. The following are the requirements to be complied with: Payment of the full consideration to, or for the account of, the grantors or mortgagors. Instruments creating the estate or interest to be insured which must be executed, delivered and nIed for record: a) Warranty Deed to be executed by Lawrence P. Leahon, as Trustee UfT dated May 1, 1989, to City of Clearwater II: Schedule B of the policy or policies or guarantee to be issued will contain exceptions to the following mat ters unless the same are disposed of to the satisfaction of The Fund: ty ~~ 2. Defects, liens, encumbrances, adverse claims or other matters, if any, created, first appearing in the public records or attaching subsequent to the effective date hereof but prior to the date the proposed Insured acquires for value of record the estate or interest or mortgage thereon covered by this commitment. Any owner policy or owner guarantee issued pursuant hereto will contain under Schedule B the stantlard except ions set forth at the inside cover hereof. Any mortgagee policy will contain under Schedule B the standard exceptions unless an affidavit of possession and a satisfactory current survey are submitted, an inspection of the premises is made, it is determined the current year's taxes or special assessments have been paid, and it is determined there is nothing of record which would give rise to mechanics' liens which could take priority ewer the mortgage (where the liens would otherwise take priority, submission of waivers is necessary). 3. Easement to Florida Power Corporation recorded September 21, 1956 in Deed Book 1620, Page 268, Public Records of Pinellas County, Florida. FUND Form C-SCH. B (M08-022) ...- --,"< ,.--......._~_._. t.' '- .-...-:~-_:.- J I (American Land itle Association Owner's Policy - Form B 1970 - Amended 10-17-84) OWNER'S TITLE INSURANCE POLICY Attorneys' Title Insurance Fund, Inc. ORlANDO, FLORIDA SUBJECT TO THE EXCLUSIONS FROM COVERAGE, TljE EXCEPTIONS CONTAINED IN SCHEDULE B AND THE PROVISIONS OF THE CONDITIONS AND STIPULATIONS HEREOF, ATTORNEYS' TITLE INSURANCE FUND, INC., a Florida corporation, herein called The Fund, insures, as of Effective Date of policy shown in Schedule A, against loss or damage, not exceeding the amount of insurance stated in Schedule A, and costs, attorneys' fees and expenses which The Fund may become obligated to pay hereunder, sustained or incurred by the insured by reason of: 1. Title to the estate or interest described in Schedule A being vested otherwise than as stated therein; 2. Any defect in or lien or encumbrance on such title; 3. Lack of a right of access to and from the land; or 4. Unmarketability of such title. In Witness Whereof, ATTORNEYS' TITLE INSURANCE FUND, INC. 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. ",11111"'"", ,\","'\~~ \NSU~""'", /, ....''\1-c;.-\ f 1;.>,.' (.ORPO~", "'. ""~ {~( -.- ~ '...~~ ~ "-', SEAL ~i By \;d ......y ""," FLORID" \\\\\\\ """."111111\\' Attorneys' Title Insurance Fund, Inc. ~~M~ Charles J. Kovaleski President SERIAL OPM.. 490260 FUND FORM OPM/M08-059 (2/891 I I 'A:>HOd S!\{l Aq pamSU! lSalalU! 10 altqsa a\{l JOJ an{1:!A P!l:!d pl:!\{ lUl:!Ul!l:!p pamSU! a\{l H paU!l:!lSnS uaaq aAl:!\{ lOU PlnoM \{:>!\{M a~l:!Ull:!p 10 SSOI U! ~UHlnsal (a) 10 ~A:>Hod JO all:!O aAH:>aJ}3 Ol luanbasqns pall:!aJ:> 10 ~U!\{:>l:!nl:! (p) ~lUl:!Ul!l:!p pamSU! a\{l Ol a~l:!Ull:!p 10 SSOI ou U! ~UHlnsal (J) ~lapUnala\{ pamSU! Ul:! aUll:!:>aq lUl:!Ul!l:!p pamSU! \{:>ns all:!p a\{l Ol 10pd punt! a\{l Ol lUl:!Ul!l:!p pamSU! a\{l Aq ~UmlM U! paSOps!p lOU PUl:! A:>Hod S!\{l Aq pamsu! lSaJalU! 10 all:!lSa Ul:! pal!nb:>l:! lUl:!Ul!l:!p \{:>ns all:!p a\{l ll:! 10 A:>Hod JO all:!O aAH:>aJ}3 ll:! la\{Ha lUl:!Ul!l:!p pamSU! a\{l Ol uMou'llnq sp1O:>al :>Hqnd a\{l Aq UMO\{S lOU PUl:! punt! a\{l ol UMou'llOU (q) ~lUl:!Ul!l:!p pamsu! a\{l Aq Ol paal~l:! 10 paUlnSSl:! 'palaJ}ns 'pall:!an (l:!) Slanl:!Ul Ja\{lO 10 'SUl!l:!p aSlaApl:! 'sa:>Ul:!lqUln:>ua 'suaH 'spaJao T 'A:>HOd JO all:!O aAH:>aJ}3 ll:! splo:>al :>Hqnd a\{l U! sll:!addl:! Sl\{~P \{:>ns JO asplaxa a\{l JO a:>Hou ssalun U!I:!UlOp lUaU!Ula JO Sl\{~rM 'Z 'saHPO\{lnl:! AlaJI:!S :>Hqnd 10 \{lIl:!a\{ ~u!Punq ~U!UOZ 'uoH:>alold Il:!lUaUlU01!AUa Il:!:>OI 10 all:!lS 'Il:!lapaJ JO sa:>mo a\{l JO AUI:! U! sp1O:>al apnpu! Ol panllsuo:> aq lOU III:!\{S splo:>al \{:>ns 'uoHI:!HUlH lno\{HM ll:!\{l'laAaMO\{ 'pap!AOld ~a~paIMOU'llnO\{l!M PUI:! anIl:!A 10J pUI:!I a\{l JO Slasl:!\{:>md Ol a:>Hou aAH:>nllSUO:> Pl:!dUl! ollaplo U! pap1O:>al aq lsnUl sa:>ul:!lqUln:>ua a{Hlla\{lO 10 suan'suapuad sH 'sa~l:!~poUl 'spaap 'salnll:!ls all:!lS lapun \{:>!\{M U! splo:>al aSO\{l U! A:>HOd JO all:!O aAH:>aJ}:I ll:! paplo:>al uaaq SI:!\{ UOHl:!IO!A l:! UlO.q ~uHlnsal a:>Ul:!lqUln:>ua 10 uaH 'paJap l:! JO a:>Hou ssalun 'aAoql:! (J) 10 (q) '(I:!) lapun papnpxa Slanl:!Ul a\{l JO UOHl:!IO!A AUI:! JO paJ}a a\{l (p) 'pl:!d I:! Sl:!M 10 S! PUI:!I a\{l \{:>!\{M JO Ia:>ll:!d AUI:! 10 'PUI:!I a\{l JO l:!all:! JO sUO!SUaUl!p a\{l U! a~ul:!\{:> l:! 10 d!\{SlaUMO U! UOHl:!ll:!das I:! ~umq!\{Old 10 'PUl:!I a\{l uo papala laijl:!ala\{ 10 MOU luaUlaAOldUl! AUI:! JO UOHl:!:>OI 10 SUO!SUaUl!p 'lapl:!ll:!\{:> a\{l ~uHI:!In~al 10 'PUl:!I a\{l JO luaUlAo!ua 10 asn 'A:>ul:!dn:>:>o a\{l ~UHN!\{Old 10 ~UHI:!In~allO ~U!PPlSal (sa:>UI:!U!plO ~U!UOZ PUI:! ~U!Punq Ol paHUlH lOU lnq ~u!pnpUn UOHl:!In~al Il:!lUaUlUlaAO~ 10 a:>Ul:!U!plO 'MI:!I AUV (J) 'uoH:>alOld Il:!lUaUlUOI!Aua Ol ~U!Wlal UOHl:!In~al Il:!lUaUlUlaAO~ 10 a:>UI:!U!plO 'Ml:!I Auy (q) 'laMod a:>Hod Il:!lUaUlWaAo~ (I:!) '{ :A:>HOd S!\{l JO a~l:!laAO:> a\{l UlO.q papnpxa AIssaldxa all:! SJanl:!Ul ~U!MOIIOJ a\{l .____.__ a~e.IaA03ulO.IJ SUO!SUIJX3. r , " I OWNER'S FORM Schedule A I " Policy No.: OPM 490260 Effective Date: July 20, 1990 Agent's File Reference: RE 134-901 Amount of Insurance: $ 158,080.00 1. Name of Insured: CITY OF CLEARWATER, FLORIDA 2. The estate or interest in the land described herein and which is covered by this policy is a fee simple (if other, specify same) and is at the effective date hereof vested in the named insured as shown by instrument recorded in Official Records Book 73 3 3 , Page 616 , of the Public Records of Pinellas County, Florida. 3. The land referred to in this policy is described as follows: See attached legal description ISSUED BY BETH S. WILSON WILSON, WILSON & LONG, P.A. 8234 AGENT NO. 4C-A-~ 1JJ'~ / AGENT'S SIGNATURE NAME OF AGENT P. O. Box 1020 MAILING ADDRESS Palm Harbor CITY , Florida 34682 ZIP Form OPM-SCH. A (Rev. 2/89) r ~ I , -. - LEGAL DESCRIPTION The South One-Half of Lot 11 of E.A. MARSHALL SUBDIVISION as recorded in Plat Book 3, Page 44, Public Records of pinellas County, Florida, together with that part of Lot 18 of said subdivision being further described as follows: Begin at the Northeast corner of said Lot 18 for the point of beginning, said point also being on the South Right-of-Way line of State Street, a thirty (30) foot Right-of-Way; thence along the East line of said Lot 18, S 00014'29" E, 154.82 feet; thence leaving said line the following three (3) courses: 1. S 77054'29" W, 152.17 feet; 2. S 68046'43" W, 132.52 feet; 3. S 65017'22" W, 62.11 feet to a point on the West line of said Lot 18; thence along said West line N 00013119" W, 265.00 feet to the Northwest corner of said Lot 18, said point also being on the aforementioned South Right-of-Way line of State Street; thence along said line S 89014'20" E, 329.15 feet to the aforementioned point of beginning. - , . I FUND OWNER'S FORM Schedule B I r~ Policy No.: OPM 490260 This policy does not insure against loss or damage by reason of the following exceptions: 1. Taxes for the year of the effective date of this policy and taxes or special assessments which are not shown as existing liens by the public records. 2. Rtghts-or.dtltRts-ot 'Ptlrties- in.-pt>~se~ ~hown-by-the l't1bHc~ecords. De 1 e t ed . 3. -Bf\ei'6acfl.tnef\ ts,-o'I/"erlaps,botIn.oary .ftl'le- di~putes; and-any -other mtl tt~ 'Which "WOtlid-be-di3'Clo5ed-by-an-a~eurate fllH''\?ey-and-il'lspeetton-ot +he-premises,:", De 1 e t e d . 4. ~aseRlef\t-5-t)... elaiffi5-t)feasements-ftOt-5l=t.ew~ by-the-ptlblte-reeot'o!r. Deleted. 5. AR Y tien; ef-r-+glN kra-ltefl;-fef-set'viees,-labof, -tlt' ffi6 ~itll-heret~ere-t)f' l=t.ereaf~ k.wfti~ftetI.,itnp6sed-4:>y-law and-ftOt 6Rown-9y-t-lle fHi&lk-f'eOOPds:- De 1 e t ed . 6. Easement to Florida Power Corporation recorded September 21, 1956 in Deed Book 1620, Page 268, Public Records of Pinellas County, Florida. FUND Form OPM - SCH. B (rev.1O/89) IConditions and Stipulationt insured, and The Fund may take any appropriate action under the terms of this policy, whether or not it shall be liable thereunder, and shall not thereby concede liability or waive any provision of this policy. (d) Whenever The Fund shall have brought any action or interposed a defense as required or permitted by the provisions of this policy, The Fund may pursue any such litigation to final determination by a court of competent jurisdiction and expressly reserves the right in its sole discretion, to appeal from any adverse judgment or order. (e) In all cases where this policy permits or requires The Fund to prosecute or provide for the defense of any action or proceeding, the insured hereunder shall secure to The Fund the right to so prosecute or provide defense in such action or proceeding, and all appeals therein, and permit The Fund to use, at its option, the name of such insured for such purpose. Whenever requested by The Fund, such insured shall give The Fund all reasonable aid in any such action or proceeding, in effecting settlement, securing evidence, obtaining wit- nesses, or prosecuting or defending such action or proceeding, and The Fund shall reimburse such insured for any expense so incurred. "~--,,:,,~,.... .,....~'''~-- ....:,.,:...... ~ . . ,. 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 Fund may have had against the named insured, those who succeed to the interest of such insured by operation of law as distinguished from purchase including, but not limited to, heirs, distributees, devisees, survivors, personal representatives, next of kin, or corporate or fiduciary successors. (b) "insured claimant": an insured claiming loss or damage hereunder. (c) "knowledge": actual knowledge, not constructive knowledge or notice which may be imputed to an insured by reason of any public records. (d) "land": the land described, specifically or by reference in Schedule A, and improvements affixed thereto which by law constitute real property; provided, however, the term '1and" does not include any property beyond the lines of the area specifically described or referred to in Schedule A, nor any right, title, interest, estate or easement in abutting streets, roads, avenues, alleys, lanes, ways or waterways, but nothing herein shall modify or limit the extent to which a right of access to and from the land is insured by this policy. (e) "mortgage": mortgage, deed of trust, trust deed, or other security instrument. (f) "public records": those records which by law impart constructive notice of matters relating to said land. 2. Continuation of Insurance After Conveyance of Title The coverage of this policy shall continue in force as of Effective Date of policy in favor of an insured so long as such insured retains an estate or interest in the land, or holds an indebtedness secured by a purchase money mortgage given by a purchaser from such insured, or so long as such insured shall have liability by reason of covenants of warranty made by such insured in any transfer or conveyance of such estate or interest; provided, however, this policy shall not continue in force in favor of any purchaser from such insured of either said estate or interest or the indebtedness secured by a purchase money mortgage given to such insured. 3. Defense and Prosecution of Actions - Notice of Claim To Be Given by an Insured Claimant (a) The Fund, at its own cost and without undue delay, shall provide for the defense of an insured in all litigation consisting of actions or proceedings commenced against such insured, or a defense interposed against an insured in an action to enforce a contract for a sale of the estate or interest in said land, to the extent that such litigation is founded upon an alleged defect, lien, encumbrance, or other matter insured against by this policy. (b) The insured shall notify The Fund promptly in writing (i) in case any action or proceeding is begun or defense is interposed as set forth in (a) above, (ii) in case knowledge shall come to an insured hereunder of any claim of title or interest which is adverse to the title to the estate or interest as insured, and which might cause loss or damage for which The Fund maybe liable by virtue of this policy, or (iii) if title to the estate or interest, as insured, is rejected as unmarketable. If such prompt notice shall not be given to The Fund, then as to such insured all liability of The Fund shall cease and terminate in regard to the matter or matters for which such prompt notice is required; provided, however, that failure to notify shall in no case prejudice the rights of any such insured under this policy unless The Fund shall be prejudiced by such failure and then only to the extent of such prejudice. (c) The Fund shall have the right at its own cost to institute and without undue delay 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 ~""' --------.- ,~~-- 4. Notice of Loss - Limitation of Action In addition to the notices required under paragraph 3 (b) of these Conditions and Stipulations, a statement in writing of any loss or damage for which it is claimed The Fund is liable under this policy shall be furnished to The Fund within 90 days after such loss or damage shall have been determined and no right of action shall accrue to an insured claimant until 30 days after such statement shall have been furnished. Failure to furnish such statement of loss or damage shall terminate any liability of The Fund under this policy as to such loss or damage. 5. Options To Payor Otherwise Settle Claims The Fund shall have the option to payor otherwise settle for or in the name of an insured claimant any claim insured against or to terminate all liability and obligations of The Fund hereunder by paying or tendering payment of the amount of insurance under this policy together with any costs, attorneys' fees and expenses incurred up to the time of such payment or tender of payment, by the insured claimant and authorized by The Fund. 6. Determination and Payment of Loss (a) The liability of The Fund under this policy shall in no case exceed the least of: (i) the actual loss of the insured claimant; or (ii) the amount of insurance stated in Schedule A. (b) The Fund will pay, in addition to any loss insured against by this policy, all costs imposed upon an insured in litigation carried on by The Fund for such insured, and all costs, attorneys' fees and expenses in litigation carried on by such insured with the written authorization of The Fund. (c) When liability has been definitely fixed in accordance with the conditions of this policy, the loss or damage shall be payable within 30 days thereafter. 7. Limitation of Liability No claim shall arise or be maintainable under this policy (a) if The Fund, after having received notice of an alleged defect, lien or encumbrance insured against hereunder, by litigation or otherwise, removes such defect, lien or encum- brance or establishes the title, as insured, within a reasonable time after receipt of such notice; (b) in the event of litigation until there has been a final determination by a court of competent jurisdiction, and disposition ofall appeals therefrom, adverse to the title, as insured, as provided in paragraph 3 hereof; or (c) for liability voluntarily assumed by an insured in settling any claim or suit without prior written consent of The Fund. CONDmONS AND STIPULATIONS (continued on reverse side) CONDmONS AND STIPULATIONS (continued) 8. Reduction 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. No payment shall be made without producing this policy for endorsement of such payment unless the policy be lost or destroyed, in which case proof of such loss or destruction shall be furnished to the satisfaction of The Fund. 9. Liability Noncumulative It is expressly understood that the amount of insurance under this policy shall be reduced by any amount The Fund may pay under any policy insuring either (a) a mortgage shown or referred to in Schedule B hereof which is a lien on the estate or interest covered by this policy or (b) a mortgage hereafter executed by an insured which is a charge or lien on the estate or interest described or referred to in Schedule A, and the amount so paid shall be deemed a payment under this policy. The Fund shall have the option to apply to the payment of any such mortgages any amount that otherwise would be payable hereunder to the insured owner of the estate or interest covered by this policy and the amount so paid shall be deemed a payment under this policy to said insured owner. 10, 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 said 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 Effective Date of policy of each separate parcel to the whole, exclusive of any improvements made subsequent to Effective Date of policy, unless a liability or value has otherwise been agreed upon as to each such parcel by The Fund and the insured at the time of the issuance of this policy and shown by an express state- ment herein or by an endorsement attached hereto. 11. Subrogation Upon Payment or Settlement Whenever The Fund shall have settled a claim under this policy, all right of subrogation shall vest in The Fund unaffected by any act of the insured claimant. The Fund shall be subrogated to and be entitled to all rights and remedies which such insured claimant would have had against any person or property in respect to such claim had this policy not been issued, and if requested by The Fund, such insured claimant shall transfe. to The Fund all rights and remedies against any person or property necessary in order to perfect such right of subrogation and shall permit The Fund to use the name of such insured claimant in any transaction or litigation involving such rights or remedies. If the payment does not cover the loss of such insured claimant, The Fund shall be subrogated to such rights and remedies in the propor- tion which said payment bears to the amount of said loss. If loss should result from any act of such insured claimant, such act shall not void this policy, but The Fund, in that event, shall be required to pay only that part of any losses insured against hereunder which shall exceed the amount, if any, lost to The Fund by reason of the impairment of the right of subrogation. 12. Liability Limited to This Policy This instrument together with all endorsements and other instruments, if any, attached hereto by The Fund is the entire policy and contract between the insured and The Fund. 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 any action asserting such claim, shall be restricted to the provisions and conditions and stipulations of this policy. No amendment of or endorsement to this policy can be made except by writing endorsed hereon or attached hereto signed by either the President, a Vice President, or agent of The Fund. 13. Notices, Where Sent All notices required to be given The Fund and any statement in writing required to be furnished The Fund shall be addressed to its principal office at Post Office Box 628600, Orlando, Florida 32862-8600. About your policy. . . This policy pr0vides valuable title protection. You should keep it in a safe place where it will be readily available for future reference. There is no recurring premium ~ I_lie 0 =:. $ rD I"l :j Qffi 0 [~ _lll ~ t:j ~ ;:;, t'r1 0 ~\O '"t:l _ o U1 =~O ~ ' U1 B o ~ ::s~ o C) ~~~ t: C/) :3. ~ 'T:l Q~ t'r1 L' ~ foil) 0 n~ cii ~g' ~ ~ rDrn ~g. "'!'1 .... n Il) t'r1 < 5 III ... ~ ~ .. -