MARIA REAL ESTATE INC (5)
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Commitment f'2 5' 5 0"'3' '0
No. F A-CC-
COMMITMENT FOR TITLE INSURANCE
ISSUED BY
First American Title Insurance Company
FIRST AMERICAN TITLE INSURANCE COMPANY, a corporation of California, herein
called the Company, 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, upon payment of the premiums and charges therefor; all 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
Company, 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 (6) 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 Company.
This Commitment shall not be valid or binding until Schedule A has been countersigned by
either a duly authorized agent or representative of the Company and Schedule B-1 and B-Il have
been attached hereto.
IN WITNESS WHEREOF, the Company has caused this Commitment to be signed and sealed,
to become valid when countersigned by an authorized officer or agent of the Company, all in accord-
ance with its By-Laws. This Commitment is effective as of the date shown in Schedule A as
"Effective Date".
First American Title Insurance Company
PRESIDENT
AITEST
SECRETARY
A.L.T.A. COMMITMENT -1966
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First American Ti(le Insurance Company
Agent's Fi.le No.: 59251493 'I
Together with the real property de~cribetl as follows:
PARCEL I II:
Lots 1, 2, 3, and 4, Block "13", of GOULD AND EWINGS 1ST AND 2ND
ADDITION TO CLEARWATER - HARBOR, FLORIDA, according to a map or
plat thereoF recorded in Plat Book I, page 52, Public Records of
Hillsborough County, Florida of which Pinellas County was
Formerly a part, less road right-of-way, together with that
portion of said Block -13- which was formerly an alley, running
East and West through said Block -13-, also vacated railroad
right-oF-way described as Follows: Begin at the Southeast corner
of said Lot 2, Block -13-, run thence East, along the Northerly
right-of-way of Park Street, 60.18 Feet thence Northerly along
the Easterly right-of-way line of said railroad right-oF-way
also the West lines of Lots 7 & 8, Block -20- of said GOULD AND
EWINGS 1ST ANO 2ND ADDITION, 229.0 feet more or less to the
Southerly right-oF-way line of Cleveland Street. thence West,
along the said right-oF-way line. 60.18 Feet thence along the
Westerly right-oF-way line of said railroad right-oF-way line
also the Easterly line of Lots 2 and 3, Block -13-, of said GOULD
AND EWINGS 1ST AND 2ND ADDITION, 228.93 Feet more or less to the
Point of beginning. All being in Section 16, Township 29 South,
Range 15 East, Pinellas County, Florida.
ALSO DESCRIBED AS:
Beginning at the Southeast corner of Lot 2, Block 13 of said
GOULD AND EWINGS 1ST AND 2ND ADDITION, thence along the
Northerly right-of-way of Park Street (Park Avenue - Plat) (A 60
foot right-of-way), North 87045'53- West, 110.22 Feet to the
Southwest corner of Lot I, Block 13 of said GOULD AND EWINGS 1ST
AND 2ND ADDITION, thence along the Eastern right-oF-way of South
Garden Avenue North 00002'16- East 227.94 feet to the apparent
southerly right-of-way Aine of Cleveland Street as it now
exists. thence South 89 50'01- East 189.03 feet to the Easterly
line of the vacated S.C.L.R.C. right-of-way, thence South
04042'26- West 228.86 feet (229.00 feet, Deed) to the Northerly
right-oF-way of Park Street (Park Avenue - plat) (A 60 foot
right-oF-way). thence North 89045'53- West, 60.18 Feet to the
Point of Beginning.
First American Title Insurance Company
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Exhibit "A"
Agent's File No.: 59259493
All those volumes of air space situate in the City of
Clearwater. Pinellas County. Florida. containing the third and
fourth floors of a parking garage structure and the ramp leading
from the second floor to the third floor thereof. as described
in Parcels I and II as follows:
PARCEL I:
Commence at the Northeasterly corner of Lot 3. Block "6".
MAGNOLIA PARK SUBDIVISION. as recorded in Plat Book 1. page 70.
Public Records of Hillsborough County. Florida of which Pinellas
County was formerly a part. as a point of reference; thence
North B9045'53" West. along the Southerly right-of-way of Park
Street (Park Avenue - Plat) (A 60 foot right-of-way) 218.94
feet; thence South 00014'07- West. 15.00 feet to a point on the
face of a precast concrete wall. said point being the point of
beainning; thence continue along the face of said wall South
89 45'53. East. 189.21 feet; thence South 00014'07- West, 206.42
feet; thence North 89045'53" West. 94.38 feet to point "A" for
convenience; thence North 89045'53" West. 94.83 feet to the
intersection of the face of said precast concrete wall and the
face of a masonry wall; thence North 00014'07- East. 206.42 feet
to the point of beginning.
The lowest limits of said air space being the bottom of the
support beams for the third floor of the parking garage at the
lowest level of said beams. having an elevation of 43.71 feet.
The upper limits of said air space being an elevation of 64.21
feet elevations reference to National Geodetic vertical Datum of
1929. Mean Sea Level - 0.00.
PARCEL II:
Commence at the aforedescribed point "A- as a point of
reference; thence North 00014'07- East, 184.21 feet to the point
of beginning of a 63.00 foot strip being 31.50 fset on each side
of the following described line; thence South 00 14'07- West
162.0 feet to the point of termination.
The lower limits of said air space being an inclined plane along
the bottom of the support beams for the ramp leading from the
second to third floors of the parking garage. The lower point of
which is the point of beginning having an elevation of 35.71
feet; the upper point of which is the Southerly boundary
thereof having an elevation of 43.71 feet.
The upper limits of said air space being the lower limits of
Parcel No.1 above described.
First American Title Ins~rance Company
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FATIC-201 (Rev. 9-78)
SCHEDULE A
Agent's File No.: 59259493
35888.0482
Date Issued: March 23, 1993 at 05:00 PM
Date Effective: March 19, 1993 at 05:00 PM
Commitment No. FA-CC- 255030
2. Policy or Policies to be issued: Amount of Policy: $ TO BE DETERMINED
(a) A.L.T.A. Owner's Policy (4/6/90) (with Florida Modifications)
Proposed Insured: CITY OF CLEARWATER
(b) A.L.T.A. Loan Policy (4/6/90) Amount of Policy: $ 0.00
(with Florida Modifications)
Proposed Insured:
3. The estate or interest in the land described or referred to in this Commitment and
covered herein is an estate or interest designated as follows:
Fee Simple
4. Title to the estate or interest in the land described or referred to in this Commitment
are covered herein (and designated as indicated in No.3 above) is, at the effective
date hereof, vested in:
MARIA REAL ESTATE INC., A FLORIDA CORPORATION
5. The land referred to in this Commitment is in the State of Florida, County of Pinellas
and described as follows:
See Exhibit -A- attached hereto and made a part hereof
Weil, Gotshal & Manges, as
agent for First American Title
:::u~:: Cr~
Bar;; lra~k, President for
Barry Frank, P.A.
First American Title Insu.rance Company
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FATIC-202 (Rev. 9-78)
SCHEDULE B-1
(Requ i rement )
Agent's File No.: 59259493
Commitment No. FA-CC- 224196 GL
The following are the requirements to be complied with:
1. Payment to, or for the account of, the grantors or mortgagors of the full
consideration for the estate or interest to be insured.
2. Payment of all taxes, assessments, levied and assessed against subject premises,
which are due and payable.
3. Satisfactory evidence shall be produced that all improvements and/or repairs or
alterations thereto are completed, that contractor, subcontractor, labor and
materialmen are all paid in full.
4. Instruments insurable form which must be properly executed, delivered and duly
filed for record:
a. Submit a proper Owne,r/Seller's Affidavit satisfactory to insure against
unrecorded mechanic's liens.
b. Submit a proper survey certified to all parties involved in. this transaction,
including but not limited to, First American Title Insurance Company.
c. Record a Satisfaction of the Mortgage in the amount of $13,250,000.00 from J.K.
FINANCIAL CLEARWATER SQUARE, INC., a Florida Corporation to CITICORP REAL
ESTATE, INC., a Delaware Corporation, dated December 11, 1984, recorded
December 11, 1984, in O.R. 800k 5893, page 639, and Mortgage Supplement
Agreement as recorded on January 16, 1987, in O.R. Book 6408, page 1089. as
modified by Mortgage Modification and Future Advance Agreement as recorded on
February 13, 1987. in O.R. Book 6427. page 533. as further modified by Mortgage
Modification and Future Advance Agreement as recorded on April 21, 1987. in
O.R. Book 6474, page 1114, as again modified by Mortgage Modification and
Future Advance Agreement recorded on September 10. 1987 in O.R. Book 6578. page
1873. and again modified by Mortgage Modification and Future Advance Agreement
recorded on August 10. 1988. in O.R. Book 6809, page 240, Public Records of
Pinellas County, Florida.
d. Record a Release of Conditional Assignment of Rents and Leases by and between
J.K. FINANCIAL - CLEARWATER SQUARE, INC.. a Florida Corporation and Citicorp
Real Estate, Inc., a Delaware Corporation as recorded December 11. 1984. in
O.R. Book 5893, page 656, as modified by Modification of Conditional Assignment
of Rents and Leases. recorded on August 10, 19B8, in O.R. Book 6809, page 245,
Public Records of Pinellas County, Florida.
e. Record a Termination of UCC-l Financing Statement naming J.K. FINANCIAL -
CLEARWATER SQUARE. INC., as debtor(s) and CITICORP REAL ESTATE. INC, as secured
party(ies). as recorded December II, 1984, in O.R. Book 5893, Page 666, as
amended on August 10. 1988, in O.R. Book 6809, page 249, Public Records of
Pinellas County, Florida.
See attached Schedule B-1 Continued
First American Title Jnsurance Company
I I
Schedule B-1 Continued
Agent's File No.: 59259493
Schedule B-1 Continued
f. Record a proper Deed from MARIA REAL ESTATE, INC., A FLORIDA CORPORATION to
CITY OF CLEARWATER.
g. Submit proof satisfactory to insure that there are no special assessments
levied against subject property.
The Company reserves the right to make such additional requirements ,as it may
deem necessary.
First 'imerican Title insurance Tompany
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FATIC-203 (Rev. 9-78)
SCHEDULE 8-11
(Except ions)
Agent's File No.: 59259493
Commitment No. FA-CC- 224196 GL
Schedule 8 of the policy or policies to be issued will contain exceptions to the
following matters unless the same are disposed of to the satisfaction of the Company.
1. 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.
2. Any owner's policy issued pursuant hereto will contain under Schedule B the
General Exceptions set forth at the inside cover hereof. Any loan policy will
contain under Schedule 8 General Exceptions 1, 2, 3 and 5 unless a satisfactory
survey and inspection of the premises is made and will contain General Exceptions
4 and 6.
3. In the event this Commitment is issued with respect to a construction loan to be
disbursed in future periodic installments, then the policy shall contain an
additional exception which shall read as follows:
.Pending disbursement of the full proceeds of the loan secured by the mortgage
insured, this policy only insures the amount actually disbursed, but increases
as proceeds are disbursed in good faith and without knowledge of any
intervening lien or interest to or for the account of the mortgagor up to the
amount of the policy. Such disbursement shall not extend the date of the
policy or change any part thereof unless such change is specifically made by
written endorsement duly issued on behalf of the Company. Upon request by the
insured (and payment of the proper charges therefore.) the Company will search
the public records subsequent to the date of the policy and furnish to the
insured a continuation report showing such matters affecting title to the land
as they have appeared in the public records subsequent to the date of the
policy or the date of the last preceeding continuation report, and if such
continuation report shows intervening lien, or liens. or interest to or for
the account of the mortgagor, then in such event this policy does not increase
in liability unless such matters as actually shown on such continuation report
are removed from the public records by the insured."
4. The lien of the Taxes for the year 1993, which are not yet due and payable.
1992 Taxes Gross Amount $25.733.47 - PAID
November 30, 1992; Amount $24,704.13; Total Assessed Value $1,111,400.00
Taxing District: CWO - CLEARWATER
Homestead Exemption filed for 19927 NO
Other Exemptions: NONE
Parcel No. 15/29/15/54450/006/0011
(As to Parcels I and I I )
See attached Schedule 8-11 Continued
First ~erican TItle insurance lompany
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Schedule B-II Continued
Agent's File No.: 59259493
5. The lien of the Taxes for the year 1993. which are not yet due and payable.
1992 Taxes Gross Amount $208,199.35 - PAID
November 30, 1992; Amount $199,871.38; Total Assessed Value $8,991,900.00
Taxing District: CWO - CLEARWATER
Homestead Exemption filed for 1992? NO
Other Exemptions: NONE
Parcel No. 16/29/15/32292/013/0010
(As to Parcel III)
6. If subject property has been a rental unit or non-owner occupied property. it may
be subject to Tangible Taxes, which are not covered by this policy, nor has an
examination been made of said taxes. Upon request and payment of an appropriate
search fee we will conduct an examination for tangible taxes.
7. Development Agreement recorded October 30. 1984 in O.R. Book 5868. page 1530, and
Amendment in O.R. Book 5868, page 1543; Conditional Assignment thereof as recorded
December 11, 1984 in D.R. Book 5893, page 662 and Assignment and Assumption as
recorded January 19, 1988, in O.R. Book 6664, page 823, and Consent thereof as
recorded August 10, 1988 in O.R. Book 6809, page 250, Public Records of Pinellas
County, Florida.
8. Easement to Florida Power Corporation recorded August 29, 1985 in O.R. Book 6064,
Page 447, Public Records of Pinellas County. Florida.
9. Easement reserved in Warranty Deed recorded in O.R. Book 6408, page 1087, Public
Records of Pinellas County, Florida.
10. Notice as recorded on January 29, 1992 in O.R. Book 7797, page 2263, Public
Records of Pinellas County, Florida.
11. Rights of part ies now in possession under t!;; unrecorded leases) .SR:i ~'Ht m tXhA'b,'i,
t A htlU~.
12. Water. sewer or garbage removal service charges due and payable to any county or
municipal authority.
13. Mll e1:aim 'tHa't UI.9 Celflffli~3";'uu u[ the C.1L.Y of. L1earwaL.eL [",";'l""d to adl.cJ:8 'tg iip;?lic:zi91@ .....
1all EClJdraiR9' 'tHO ~1:iEekase of Ll.~ ~x6pe:rtl dessri15ca keroiR. _
/\lore: -tILL ~mp(qlj clo.tS flo-f- i115fA/U. ':da;,V,s~ 'Ike i~'IU/k 1r .;,i~
N.<itd~.'l ~M. 'f1<< M.~ Aa..LsW tl1 'flu. Ct.i:telt., e
),(,'CIta.tR 5. Ih>~~ 'Z GI.tJ1n i?#{smus~n r 1fJa~-k-
H. fl. ~a1 b~ .'" / ~. ~ &!J Il~ I &:Y 8 ~wa;/tJe J
c1.tJd.td tlttJ./lel1 :24) J 1'13 Md Ma~A ,2J1 /1'1 ~ .
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ST ANDARD EXCEPTIONS FOR OWNER'S POLICY
The owner's policy will be subject to the mortgage, if any, noted under item one of Item 4 of
Schedule B-1 hereof and to the following general execptions:
i. Right~ 6f elaiR'H, 9f p:uti8& iN ~855eSsi6Jf Hot SJ.uwn L.y ll.... pablie ree8r8~.
2, E85i!1m8Rts, sr ~laim5 sf e8:3etlH~"t:3, Hul "J.UWII by 1I1e; !-'ubli... 1......01d~ ((J , 0{
~urV19 mA~S 4.Ss.t:I/oIl*- (n ~ .survt~ (XtpfAAJ.ci ~ (:(~t.;: ~ocJ~1 dne.. (JJt
3.& Encroachments, overlaps, boundary line disputes, or other matters which would be disclosed
by an accurate surveyor inspection of the premisesSll Sf" a6fel! 8 -t 7- B 7.
, , ,
im.fl8&\HI Q)t hut "nn not "houm by tb~ Fy/;}lic riSQH~S.
4.
5.
tt. T:mes Of s!'leeial as&e&&m@Rts ..1.;...11 die; Ilut shuWIl as existing lie;lI:> by the; !-,ublie riCgrd"
CONDITIONS AND STIPULATIONS
I. The term "mortgage," when used herein, shall include deed of trust, trust deed, or other security
instrument.
2. If the proposed Insured has or acquires actual knowledge of any defect, lien, encumbrance, adverse
claim or other matter affecting the estate or interest or mortgage thereon covered by this Commit-
ment other than those shown in Schedule B-1 and Schedule B-II hereof, and shall fail to disclose
such knowledge to the Company in writing, the Company shall be relieved from liability for any
loss or damage resulting from any act of reliance hereon to the extent the Company is prejudiced
by failure to so disclose such knowkdge. If the proposed Insured shall disclose such knowledge to
the Company, or if the Company otherwise acquires actual knowledge of any such defect, lien,
encumbrance, adverse claim, or other matter, the Company at its option may amend Schedule B-1
and/or Schedule B-II of this Commitment accordingly, but such amendment shall not relieve the
Company from liability previously incurred pursuant to paragraph 3 of these Conditions and
Stipulations.
3. Liability of the Company under this Commitment shall be only to the named proposed Insured
and such parties included under the definition of Insured in the form of policy or policies com-
mitted for and only for actual loss incurred in reliance hereon in undertaking in good faith (a) to
comply with the requirements hereof, or (b) to eliminate exceptions shown in Schedule B-1 or
(c) to acquire or create the estate or interest or mortgage thereon covered by this Commitment.
In no event shall such liability exceed the amount stated in Schedule A for the policy or policies
committed for and such liability is subject to the insuring provisions, the Exclusions from Cover-
age and the Conditions and Stipulations of the form of policy or policies committed for in favor
of the proposed Insured which are hereby incorporated by reference and are made a part of this
Commitment except as expressly modified herein.
4. Any action or actions or rights of action that the proposed Insured may have or may bring against
the Company arising out of the status of the title to the estate or interest or the status of the
mortgage thereon covered by this Commitment must be based on and are subject to the pro-
visions of this Commitment.
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~ATIC-700 (Rev. 11-78)
ENDOrSEM~~Tl.NO. _FA-E-09i383
ISSUED BY
First American Title Insurance Company
Agent's
File No.: 59259493
35888.0482
Attached to and forming a part of
Commitment No. F A.C. ~ 255030
Policy No. F A.O.
Policy No. F A.M.
The above commitment is hereby amended as follows:
1. Schedule B-1 is hereby deleted in itS entirety.
2. Paragraph 1 of Schedule B-11 is hereby deleted in
its entirety.
Nothing herein contained shall be construed as extending or changing the effective date of said policy, unless otherwise
expressly stated.
This Endorsement shall not be valid or binding unless countersigned by either a duly authorized agent or representative
of the Company, and when so countersigned it is made a part of said Policy, and is subject to the schedules, conditions and
stipulations therein, except as modified by the provisions hereof.
IN WITNESS WHEREOF, First American Title Insurance Company has caused its corporate seal to be hereunto affixed
and these presents to be signed in facsimile under authority of its By-Laws.
Dated this 2.'1 "'f1-.-day of
March
,19~
First American Title Insurance Company
Weil, Gotshal & Manges
(Insert above line name of Agent)
President
By:
Attes/JI~~... C. ~L ~ Secretary