The URL can be used to link to this page

WALLACE AND EARNESTINE U. WADE r ~ ~.. . '" ~U 03-018282 JA.N-15-20032,:56PM 6 ~~~~~~t~io: !PJNELi;;j~~;n1l1llli~~II~.2?18 SOMERS TITLE COMPANY 1290 COURT STREET CLEARWATER, FL 33756 (727) 441-1088 incidental to the issuance of a title insurance policy. File Number: 02080032c Parcel ID #: 10-29-15-69048-005-0040 Grantee(s) SS #: -0 WARRANTY DEED $). ~~"\ Q (INDIVIDUAL) "." $ 2003 f!tr This WARRANTY DEED, dated January 10, ~ by Wallace Wade and Earnestine U. Wade, husband and wife ~EEN F. DE 1lAKER, CLERK OF COURT PltflLAS COONTV, FLORIDA ------------------ C1025486 01-15-2003 14:5'7:44 JTF 51 DED-LIADE/GUJR 000100 3010 - 00001526 11:03018282 11<:12474 SPG:2513 EPG:2514 RElDRDltIJ 002 PAGES 1 $10.50 lXt STI1f - DR219 3 $70.70 TOTAL: $81.20 DECK fiT. TENDERED: $73.70 DmI AtIIlMT: $'7.50 BY ~ IIPUTV ClERK whose post office address is: hereinafter called the GRANTOR, to CITY OF CLEARWATER, FLORIDA, a Municipal Corporation of the State of Florida whose post office address is: P.O. Box 4748, Clearwater, FL 33758 hereinafter called the GRANTEE: (Wherever used herein the terms "Grantor" and "Grantee" include all parties to this instrument and the heirs, legal representatives and assigns of individuals, and the successors and assigns of corporations.) WITNESSETH: That the GRANTOR, for and in consideration of the sum of $10.00 and other valuable considerations, receipt whereof is hereby acknowledged, hereby grants, bargains, sells, aliens, remises, releases, conveys and confirms unto the GRANTEE, all that certain land situate in Pinellas County, Florida, viz: Parcel No. 10-29-15-69048-005-0040 Parcel" A": FEE SIMPLE ACQUISITION LOT 4, BLOCK "E", PINE BROOK SUB-DIVISION UNIT 2, LESS the West 225 feet, according to the map or plat thereof as recorded in Plat Book 23, Page 71, Public Records of Pinellas County, Florida. Parcel "B": PERPETUAL EASEMENT The East 25 feet of the West 225 feet of Lot 4, Block "E", PINE BROOK SUB-DIVISION UNIT 2, according to the map or plat thereof as recorded in Plat Book 23, Page 71, Public Records of PineUas County, Florida. Parcel "C": TEMPORARY EASEMENT The East 20 feet of the West 200 feet of LOT 4, Block "E", PINE BROOK SUB-DIVISION UNIT 2, according to the map or plat thereof as recorded in Plat Book 23, Page 71, Public Records of PineUas County, Florida. Fr"{fi:::; ;;L- ,...." ~/Q~~ h I.' ;~, /lh?=t2 D ri2 : \', ...2C!!2P .r)~; ~t"J-f FE\::Y;; Mrr r: ..~ r::.~"1 17 io.l-- '''. ..........- _.12U,'C:_ J>---- renAL .J11.~o . u< 0':"1. /';73,10 CHG ):\M r ~2-:!.>-O cypte ... a,_,- PINELLAS COUNTY FLA, oFF.REC,BK 12474 PG 2514 SUBJECT TO covenants, conditions, restrictions, reservations, limitations, easements and agreements of record, if any; taxes and assessments for the year 2003 and subsequent years; and to all applicable zoning ordinances and/or restrictions and prohibitions imposed by governmental authorities, if any. TOGETHER with all the tenements, hereditaments and appurtenances thereto belonging or in anywise appertaining. TO HAVE AND TO HOLD, the same in fee simple forever. AND THE GRANTOR hereby covenants with said GRANTEE that except as above noted, the GRANTOR is lawfully seized of said land in fee simple; that the GRANTOR has good right and lawful authority to sell and convey said land; that the GRANTOR hereby fully warrants the title to said land and will defend the same against the lawful claims of all persons whomsoever. IN WITNESS WHEREOF ._GRANTOR has signed and sealed these presents the date set forth above. THE FOLLOWING WITNESSES: ER 7A h.//o.-r --< c.-zJ rnk Wallace Wade 6/~~~ iI.rJitJ~ Earnestine U. Wade Signature: Print Name: ,/ State of Florida County of Pinellas 2003 rV THE FOREGOING INSTRUMENT was sworn and acknowledged before me on January 10, ~by: Wallace Wade and Earnestine U. Wade,.husband and wife who is personally known to me or who has produced drivers license as identification. Notary: Signature: Notary Seal: Print Name: ,,~' p"& I MARIANNE SCHAFFER ~ n <.;, i Notarv Public, State Of Florida t ~~ i My Comrr'lss!on Expires 12/14105 ~~oFfcof 'Commission No, # 00068427 ",\J _ ., ~ , '\. \;}"'" P;epar~d By & Return to: ~rN~~~~~5coJAN8-K151l40-?l p~ :~:~~ SOMERS TITLE COMPANY 11111111111111111111111111111111111111111111111111 1290 COURT STREET _____,_ CLEARWATER, FL 33756 (727) 441-1088 incidental to the issuance of a title insurance policy. File Number: 02080032c Parcel ID #: 10-29-15-69048-005-0040 Grantee(s) SS #: /'0 ,"AO \ \) . KfREEH F. DE Il.AKER, CLERK OF COURT PltflLAS COI.JNTV, FLORIDA C1025485 01-15-2003 14:54:00 .lTF 51 IEHlWR 00Xl00 11:03018275 BK:12474 ffG:2469 EPG:2470 ~DItIi 002 PA(IS 1 $10.50 IXI: STAff - DR219 3 $.70 WARRANTY DEED (INDIVIDUAL) TOTfl: $11.20 Ilm< fiT. TENDERED: $11.20 DW<<l: $.00 BY 1b- IIPUTV ClERK This WARRANTY DEED, dated January 10, 2003 by James Lee Wade, a single man and Sandra Elaine Thomas, a single woman whose post office address is: hereinafter called the GRANTOR; to CITY OF CLEARWATER, FLORIDA, a Municipal Corporation of the State of Florida whose post office address is: P.O. Box 4748, Clearwater, FL 33758 hereinafter called the GRANTEE: (Wherever used herein the terms "Grantor" and "Grantee" include all parties to this instrument and the heirs, legal representatives and assigns of individuals, and the successors and assigns of corporations.) WITNESSETH: That the GRANTOR, for and in consideration of the sum of $10,00 and other valuable considerations, receipt whereof is hereby acknowledged, hereby grants, bargains, sells, aliens, remises, releases, conveys and confirms unto the GRANTEE, all that certain land situate in Pinellas County, Florida, viz: Parcel No. 10-29-15-69048-005-0040 Parcel "A": FEE SIMPLE ACQUISITION LOT 4, BLOCK "E", PINE BROOK SUB-DIVISION UNIT 2, LESS the West 225 feet, according to the map or plat thereof as recorded in Plat Book 23, Page 71, Public Records of Pinellas County, Florida. Parcel "B": PERPETUAL EASEMENT The East 25 feet of the West 225 feet of Lot 4, Block "E", PINE BROOK SUB-DIVISION UNIT 2, according to the map or plat thereof as recorded in Plat Book 23, Page 71, Public Records of Pinellas County, Florida. Parcel "C": TEMPORARY EASEMENT The East 20 feet of the West 200 feet of LOT 4, Block "E", PINE BROOK SUB-DIVISION UNIT 2, according to the map or plat thereof as recorded in Plat Book 23, Page 71, Public Records of Pinellas County, Florida. Consideration less than $100.00 d- J~Wr' "-("""" "<~'.':'), pj,.--o"'-;=O r{ l'-~ ".J _..m.-.!__.____ o FQl Si...'..'lJL. c"::~ ....___..______ n'l"i" ! ." ----'-'- FEFS ,_._..__..~ L:," , ,._..._..' PiC, ",... jl~:$"".'-" TOT,!, II~ ~p - CK B/\L__.., CHG AMT .......- .....- ~- _ ~..j,..,~.,~~..~-,.i~.o. 't.....-~"""'1' t.k D.f Le SUBJECT TO covenants, conditions, restrictions, reservations, limitations, easements and agreements of record, if any; taxes and assessments for the year 2003 and subsequent years; and to all applicable zoning ordinances and/or restrictions .;iI' \_ .. - ~ PINELLAS COUNTY FLA. OFF ,REC.8K 12474 PG 2470 SUBJECT TO covenants, conditions, restrictions, reservations, limitations, easements and agreements of record, if any; taxes and assessments for the year 2003 and subsequent years; and to all applicable zoning ordinances and/or restrictions and prohibitions imposed by governmental authorities, if any. TOGETHER with all the tenements, hereditaments and appurtenances thereto belonging or in anywise appertaining. TO HAVE AND TO HOLD, the same in fee simple forever. AND THE GRANTOR hereby covenants with said GRANTEE that except as above noted, the GRANTOR is lawfully seized of said land in fee simple; that the GRANTOR has good rightuaIldlawfut authority_ to~ellJmd convey said land; that the GRANTeR hereby-futtYWa:rranfSlIie-tiUe to said land and will defend the same against the lawful claims of all persons whomsoever. IN WITNESS WHEREOF, GRANTOR has signed and sealed these presents the date set forth above. Signature: Print Name: THE FOLLOWING WITNESSES: (\ ^, ~ --clu.. t~ ~~e Signature: Print Name: ar Signature: /..n. Print Name: ' Signature: Print Name: AFFER ,J~ . SMITH ~~~ Sandra Elaine Thomas State of Florida County of Pinellas THE FOREGOING INSTRUMENT was sworn and acknowledged before me on January 10,2003 by: James Lee Wade, a single man who is personally known to me or who has produced drivers license as identification. /' ~t-~Y Pv~ ;? 6 ('6 t~: "1~OFF\.O~ MARIANNE SCHAFFER Signature" Notary Public, State ?f Florida Print Na My Commission Expires 12114105 Commission No. # DD068427 State of Florida County of Pinellas THE FOREGOING INSTRUMENT was sworn and acknowledged before me on January 10, 2003 by: Sandra Elaine Thomas, a single woman who has produced a drivers license as identification. ~>'::..':&... ;f ~-c''O *~* ~ ~ ..~ ~ OF'" ~ Notary Signature: . . MARIANM=,SCHAFFER Pr~~~ / .. ' . -= _WE SCHAFFER Notary Public, State Of Fbrfda My Commission Expires 12114105 Commission No, # DD068427/ '" ~ CONTRACT FOR PURCHASE OF REAL PROPERTY BY THE CITY OF CLEARWATER, FLORIDA PARTIES: Wallace Wade, a married man, joined by Ernestine U. Wade, his wife, (herein "Seller"), of 1007 North Betty Lane, Clearwater, Florida 33755-3303 Phone: (727) 447-7197, and the CITY OF CLEARWATER, FLORIDA, a Municipal Corporation of the State of Florida (herein "Buyer" or "City") of P. O. Box 4748, Clearwater, Florida 33758-4748, ATTENTION: William B. Horne, II, City Manager, (collectively "Parties") hereby agree that the Seller shall sell and Buyer shall buy the following real property ("Real Property") and personal property ("Personalty") (collectively "Property") upon the following terms and conditions. 1. PROPERTY DESCRIPTION LEGAL DESCRIPTIONS: (See EXHIBIT "A", Pages 1 & 2, attached and a part hereof) (A) - Fee Simple Parcel: 3,105 sq. ft., more or less, including all improvements, landscaping and trees thereon and therein, in "as is" condition. (B) - Perpetual Easement Parcel: 1 ,850 sq. ft., more or less. (C) -Temporary Easement Parcel: 1 ,500 sq. ft., more or less PERSONALTY: NONE 2. FULL PURCHASE PRICE: (A) $5,900 (B) $1,900 (C) $1,000 $ $ $ 1,300 00 8,800 00 CONSIDERATION FOR ENTERING INTO CONTRACT: TOTAL PURCHASE PRICE: 10,10000 3. MANNER OF PAYMENT: City of Clearwater check in U.S. funds at time of closing .................................... ..... $ 10,10000 4. PURCHASE PRICE DETERMINATION The Full Purchase Price as shown herein has been reached through negotiations with the Seller by City staff. The Purchase Price as to Parcels (A), (B) & (C) is based upon appraisal performed April 24, 2002 by Kenneth Frost, MAl, SRA, CRE, Frost Appraisal/Market Consultants, Inc. 5. TIME FOR ACCEPTANCE; APPROVALS Following execution of this contract by Seller, the price, terms and conditions as contained herein shall remain unchanged and be held unconditionally open for a period of 60 days following delivery in duplicate original to City Manager of the City of Clearwater for acceptance and approval, counter-offer, or rejection by action of the Clearwater City Commission ("Commission"). If this agreement is accepted and approved by the Commission, it will be executed by duly authorized City officials and delivered to Buyer within 10 days thereafter. If a counter-offer is approved by the Commission, it shall be delivered to Seller in writing within 10 days of such action by the City Commission, and Seller shall have 10 days thereafter to deliver to Buyer written notice of acceptance or rejection of such counter-offer. If written ~ notice of acceptance is not timely delivered, or if the counter-offer is rejected by Seller, this contract shall thereafter be null and void in all respects. If this contract is rejected by the Commission upon initial presentation to the Commission, this contract shall be null and void in all respects and Buyer shall be so informed in writing within 5 days of such action. 6. TITLE Seller warrants legal capacity to and shall convey marketable title to Parcel (A) - Fee Simple Parcel by Statutory Warranty Deed, subject only to matters contained in Paragraph 7 acceptable to Buyer, and partial release provisions of Paragraph 8. At closing Seller shall also convey by sufficient recordable instrument a perpetual easement for ingress/egress and maintenance purposes over and across Parcel (B) - Easement Parcel subject to acceptable encumbrances as provided hereafter. Otherwise title shall be free of liens, easements and encumbrances of record or known to Seller, but subject to property taxes for the year of closing; covenants, restrictions and public utility easements of record; and no others provided there exists at closing no violation of the foregoing and none of them prevents Buyer's intended use of the Property. Seller warrants and represents that there is ingress and egress to the Real Property sufficient for the intended use as described herein. 7. TITLE EVIDENCE Prior to closing the City, at City option and expense, may obtain a title insurance commitment issued by a Florida licensed title insurer agreeing to liens, encumbrances, exceptions or qualifications set forth in this Contract, and those which shall be discharged by Seller at or before closing. Seller shall convey a marketable title subject only to liens, encumbrances, exceptions or qualifications set forth in this Contract. Marketable title shall be determined according to applicable Title Standards adopted by The Florida Bar and in accordance with law. Buyer shall have 5 days from receiving evidence of title to examine it. If title is found defective, Buyer shall, within 3 days thereafter, notify Seller in writing specifying defect(s). If the defect(s) render title unmarketable, Seller will have 120 days from receipt of notice within which to remove the defect(s), failing which Buyer shall have the option of either accepting the title as it then is or withdrawing from this Contract. Seller will, if title is found unmarketable, make diligent effort to correct defect(s) in title within the time provided therefor, including the bringing of necessary suits. 8. LIEN RELEASES & SUBORDINATION OF INTERESTS First Mortgage lien (BSI Financial Services, Inc. Loan No. 0018037681 14) having an approximate balance of $6,800 as of October 1, 2002 shall be paid in full from purchase proceeds at time of closing. This sale is further subject to the City of Clearwater, mortgage under that certain mortgage recorded in O. R. 7902, Page 2179, Public Records of Pinellas County, Florida, executing in recordable form a partial release as to Parcel "A", and subordinating its interests as to Parcels "B" and "C" as may be required for title insurance purposes. 9. SURVEY Buyer, at Buyer's expense, within time allowed to deliver evidence of title and to examine same, shall have the respective Real Property interests to be acquired hereby surveyed and certified to the Buyer, Seller, primary lender of record and closing agent by a registered Florida land surveyor. If survey shows any encroachment on Real Property, or that improvements located on Real Property encroach on setback lines, easements, lands of others, or violate any restrictions, contract covenants or Page 2 of 6 applicable governmental regulation, the same shall constitute a title defect. The survey shall be performed to minimum technical standards of the Florida Administrative Code and may include a description of the property under the Florida Coordinate System as defined in Chapter 117, Florida Statutes. 10. CLOSING PLACE AND DATE Buyer shall designate closing agent and this transaction shall be closed in the offices of the designated closing agent in Pinellas County, Florida, within 90 days of the effective date, unless extended by other provisions of this contract. If either party is unable to comply with any provision of this contract within the time allowed, and be prepared to close as set forth above, after making all reasonable and diligent efforts to comply, then upon giving written notice to the other party, time of closing may be extended up to 60 days without effect upon any other term, covenant or condition contained in this contract. 11. CLOSING DOCUMENTS Buyer shall furnish closing statements for the respective parties, deed, mechanic's lien affidavit, mortgage estoppels letters, temporary and perpetual easement documentation and corrective instruments. 12. CLOSING EXPENSES Documentary stamps on the deed, unless this transaction is exempt under Chapter 201.24, Florida Statutes, shall be paid by the City. Seller shall pay the costs of recording any corrective instruments. Recordation of the deed, grant of easement and partial releases of liens shall be paid by Buyer. 13. PRORATIONS There shall be no proration, collection or credit given Buyer, for taxes, assessments, rent (if any) or other revenue of the Property through the day before closing. It is not anticipated that the real property interests being acquired by Buyer will result in any significant revision of the assessed valuation of the subject property by the Pinellas County Property Appraiser. 14. OCCUPANCY Seller warrants that there are no parties in or entitled to occupancy other than the Seller, or as otherwise disclosed herein 15. PROPERTY CONDITION Seller shall deliver the Property to Buyer at time of closing in its present lias is" condition, ordinary wear and tear excepted, and shall maintain the landscaping and grounds in a comparable condition. Seller makes no warranties other than is disclosed herein in Paragraph 18 ("SELLER WARRANTIES") and marketability of title. Page 3 of 6 16. PROCEEDS OF SALE; CLOSING PROCEDURE The deed, releases of lien, easement instruments and any other recordable documentation required to perfect title shall be recorded upon clearance of funds. Proceeds of sale shall be held in escrow by Seller's attorney or by such other mutually acceptable escrow agent for a period of not longer than 5 days from and after closing, during which time evidence of title shall be continued at Buyer's expense to show title in Buyer, without any encumbrances or change which would render Seller's title unmarketable from the date of the last title evidence. If Seller's title is rendered unmarketable through no fault of the Buyer, Buyer shall, within the 5-day period, notify the Seller in writing of the defect and Seller shall have 30 days from the date of receipt of such notification to cure the defect. If Seller fails to timely cure the defect, all funds paid by or on behalf of the Buyer shall, upon written demand made by Buyer and within 5 days after demand, be returned to Buyer and simultaneously with such repayment, Buyer shall return Personalty and vacate Real Property and reconvey it to Seller by special warranty deed. If Buyer fails to make timely demand for refund, Buyer shall take title "as is", waiving all rights against Seller as to any intervening defect except as may be available to Buyer by virtue of warranties contained in the deed. The escrow and closing procedure required by this provision may be waived if title agent insures adverse matters pursuant to Section 627.7841, F.S. (1987), as amended. 17. DEFAULT If this transaction is not closed due to any default or failure on the part of the Seller, other than to make the title marketable after diligent effort, Buyer may seek specific performance or unilaterally cancel this agreement upon giving written notice to Seller. If this transaction is not closed due to any default or failure on the part of the Buyer, Seller may seek specific performance. 18. SELLER WARRANTIES Seller warrants that there are no facts known to Seller that would materially effect the value of the Property, or which would be detrimental to the Property, or which would effect Buyer's desire to purchase the property except as follows: (Speci(y known defects If none are known, write "NONE") iJd#c , I ,. t1J1 [).It JJ ~ Buyer shall have 45 days to investigate said matters as disclosed by the Seller, and shall notify Seller in writing whether Buyer will close on this contract notwithstanding said matters, or whether Buyer shall elect to cancel this contract. If Buyer fails to so notify Seller within said time period, Buyer shall be deemed to have waived any objection to the disclosed matters and shall have the obligation to close on the contract. 19. RADON GAS NOTIFICATION In accordance with provisions of Section 404.056(8), Florida Statutes (1989), as amended, Buyer is hereby informed as follows: Page 4 of 6 . . RADON GAS: Radon is a naturally occurring radioactive gas that, when it has accumulated in a building in sufficient quantities, may present health risks to persons who are exposed to it over time. Levels of radon that exceed federal and state guidelines have been found in buildings in Florida. Additional information regarding radon and radon testing may be obtained from your county public health unit. 20. CONTRACT NOT RECORDABLE; PERSONS BOUND Neither this contract nor any notice of it shall be recorded in any public records. This contract shall bind and inure to the benefit of the parties and their successors in interest. Whenever the context permits, singular shall include plural and one gender shall include all. 21. NOTICE All notices provided for herein shall be deemed to have been duly given if and when deposited in the United States Mail, properly stamped and addressed to the respective party to be notified, including the parties to this contact, the parties attorneys, escrow agent, inspectors, contractors and all others who will in any way act at the behest of the parties to satisfy all terms and conditions of this contract. 22. ASSIGNABILITY; PERSONS BOUND This contract is not assignable. The terms "Buyer", "Seller", and "Broker" (if any) may be singular or plural. This Contract is binding upon Buyer, Seller, and, as respectively applicable, their heirs, successors and personal representatives. 23. ATTORNEY FEES; COSTS In any litigation arising out of this contract, the prevailing party shall be entitled to recover reasonable attorney's fees and costs. 24. TYPEWRITTEN OR HANDWRITTEN PRQVISIONS Typewritten or handwritten provisions shall control all printed provisions of contract in conflict with them. 25. EFFECT OF PARTIAL INVALIDITY The invalidity of any provision of this contract will not and shall not be deemed to effect the validity of any other provision. In the event that any provision of this contract is held to be invalid, the parties agree that the remaining provisions shall be deemed to be in full force and effect as if they had been executed by both parties subsequent to the expungement of the invalid provision. 26. GOVERNING LAW It is agreed by and between the parties hereto that this contract shall be governed by, construed, and enforced in accordance with the laws of the State of Florida. Page 5 of 6 27. COUNTERPARTS; FACSIMILE COPY This contract may be executed in two or more counterparts, each of which shall be deemed an original and all of which together shall constitute one instrument. A facsimile copy of this contract, including any addendum, attachments and any written modifications hereof, and any initials or signature thereon shall be deemed an original. 28. EXHIBITS ATTACHED Exhibit A - Preliminary sketch depicting proposed Parcel (A) - Fee Parcel, Parcel (B) - Perpetual Easement, and Parcel (C) - Temporary Easement. Actual parcel descriptions and dimensions shall be provided by certified survey as provided in Paragraph 9 hereof. 29. ENTIRE AGREEMENT Upon execution by Seller and Buyer, this contract shall constitute the entire agreement between the parties, shall supersede any and all prior and contemporaneous written and oral promises, representations or conditions in respect thereto. All prior negotiations, agreements, memoranda and writings shall be merged herein. Any changes to be made in this agreement shall only be valid when expressed in writing, acknowledged by the parties and incorporated herein or attached hereto. Approved and accepted this ;l.7H- day of ~r- ,2002. CITY OF CLEARWATER, FLORIDA Cou ntersigned: Bri~~~O Mayor-Commissioner F- By: ~la,f4f.t3. ~ ":It IlIiam B. Horne II City Manager Approved as to form: c;rc;;J JOR1'(Carassas Assistant City Attorney Attest: ~ .- "U~ ~~;,,-6 .. C1uL ~Cy i E. Goudea~. .- ~ '1J City Clerk - . .. - : . - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - ;:} i- tttJi \...4h.d ( I Ernestine U~ade It! ~o.ee -W-~ Wallace Wade Ebarrett on pwa/City Buys/Stevenson Sump (Wade) 0502.doc Page 6 of 6 EXHIBIT "A" (Page 1 of 2) leaal Descriptions - Partial ACQuisition (Parcels A. B & C - PINE BROOK UNIT NO.2. Block E. Lot 4. Plat Book 23. Paae 71. Public Records of Pinellas County. Florida) Parcel A: (Fee Simple Acquisition - 3,105 sq. ft., mol) PINE BROOK UNIT NO.2, Block E, Lot 4 LESS the west 225 feet. Parcel B: (Perpetual Easement - 1,850 sq. ft., mol) The east 25 feet of the west 225 feet of PIINE BROOK UNIT NO.2, Block E, Lot 4 Parcel C: (Temporary Easement -1,500 sq. ft., mol) The east 20 feet of the west 200 feet of PINE BROOK UNIT NO.2, Block E, Lot 4 , . I, Ii II II II II Ii II W " Z i <( !! -.J " Ii II >- 'I 11 Ii l- I' I l- ii w i1 m EXHIBIT "A" Scale ,11 = 501 This is not a survey --------- --------- --------- ~ ~ 4~ & f9~ ~4; ~~ 3 ~. ~. 6 5 225' 200' <\"Y Qd ~ PJ 2 PALMETTO STREET 1 ~ 1 ~ /I /I II ~II ~II II II CITY OF CLEARWATER. FLORIDA PUBLIC WORKS ADMINISTRATION ENGINEERING DRAWN BY D.KING LEGAL DRAWING LOT 4 BLOCK "E" PINEBROOK UNIT 2 PLA T BOOK 23 PAGE 71 CHECKED 8Y E.BARRETT .AlE OS/22/2002 CAIO, 269B owe. NO. Lg1200202,L4 SHtH 1 OF 1 SlCT-TWSP-RNG 10-29S-15E ORDINANCE N/A (Printed on Jan 10,2003 @ 08:57) A. ~ US Departtnent of Housing and Urban Development SETTLEMENT STATEMENT OMB No. 2502.0265 - B. Tvne of Loan 1. [] FHA 2. [ ] FmHA 3. [] Conv. Unins. I 6, File Number: I I 4. r 1 VA 5. r 1 Conv. Ins. 02080032c 7. Loan Number: 8, Mortgage Ins. Case #: 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. Items marked 'POC' were paid outside the closing: they are shown here for information D. NAME AND ADDRESS OF BORROWER: CITY OF CLEARWATER, FLORIDA, a Municipal Corporation of the State of Florida P.O, Box 4748 Clearwater, FL 33755-4748 E. NAME AND ADDRESS OF SELLER: Wallace Wade 1007 Betty Lane N. Clearwater, FL 33755 Eamestine U. Wade 1007 Betty Lane N. Clearwater, FL 33755 F. NAME AND ADDRESS OF LENDER: G. PROPERTY LOCATION: 1007 Betty Lane N Clearwater, FL 33755 H. SETTLEMENT AGENT: PLACE OF SETTLEMENT: SOMERS TITLE COMPANY 727-441-1088 Contact: 1290 COURT STREET CLEARWATER, FL 33756 I. SETTLEMENT DATE: DISBURSEMENT DATE: 1/10/03 II 10/03 I J. SUMMARY OF BORROWER(S) TRANSACTION 100. GROSS AMOUNT DUE FROM BORROWER: I K. SUMMARY OF SELLER(S) TRANSACTION 400. GROSS AMOUNT DUE TO SELLER : 101. Contract sales price 10,100.00 401. Contract sales price 10,100.00 102. Personal Property 402. Personal Property 103. Settlement charges to borrower (line 1400) 441.40 403. 104. 404. 105. 405. Adiustments for items paid bv Seller in advance Adiustments for items paid bv Seller in advance 106. City/town taxes 406. City/town taxes 107. County taxes 407. County taxes 108. Assessments 408. Assessments 109. 409. 110. 410. 111. 411. 112. 412. 120. Gross Amount Due From Borrower 10,541.40 420. Gross Amount Due Seller 10,100.00 200. AMOUNTS PAID BY OR IN BEHALF OF BORROWER: 500. REDUCTIONS IN AMOUNT DUE TO SELLER 201. Deposit or earnest money 501. Excess deposit (see instructions) 202. Principal amount of new loan(s) 502. Settlement charges to seller (line 1400) 924.50 203. Existing loan(s) taken subject to 503. Existing loan(s) taken subject to 204. 504. Payoff of first mortgage loan BSI Financial 6,846.07 205. 505. Payoff of second mortgage loan 206. 506. Courier/Handling Fee for Payoff/stc 20.00 207. 507. Payoff Judgement-Catherine Wade 250.00 208. 508. Payoff Judgement Sandra Elaine Thomas 553.00 209. 509. Adjustments for items unpaid by Seller in advance Adjustments for items unpaid by Seller in advance 210. City/town taxes 510. City/town taxes 211. County taxes 511. County taxes 212. Assessments 512. Assessments 213. 513. 214. 514. 215. 515. 216. 5]6. 217. 5]7. 2]8. 5]8. 219. 519. 220. Total Paid Bv/For Borrower 520. Total Reduction Amount Due Seller 8.593.57 10,541.40 From Seller 10,100.00 8,593.57 1 506.43 10541.40 SUBSTITUTION FORM 1099 SELLER STATEMENT: The information contained in Blocks E,G,H and I on line 401(or if 401 is asterisked, line 403 and 404) is important tax information and is being fumished to the Intemal Revenue Service. If you are required to file a return, a negligence penalty or other sanction will be imposed on you if this item is required to be reported and the IRS determines that it has not been reported. SELLER, you are required by law to provide the settlement agent with your correct taxpayer identification number. If you do not provide the settlement agent with your correct taxpayer identification number, you may be subject to civil or criminal penalties imposed by law. Under penalties of perjury, I certify that the number shown on this statement is my correct taxpayer identification number. (Printed on Jan 10, 2003 @ 08: 57) L. US Department of Housing and Urban Development SETTLEMENT CHARGES OMB No. 2502.0265 700. Total SaleslBroker's Commission based on price Paid from Paid from Borrower's Seller's 701. Listing Realtor Commission Funds at Funds at 702. Selling Realtor Commission Settlement Settlement 703. Commission paid at Settlement 704. 800. ITEMS PAYABLE IN CONNECTION WITH LOAN 801. Loan Origination Fee 802. Loan Discount 803. Appraisal Fee 804. Credit Report 805. Lender's Inspection Fee 806. Mortgage Insurance Application Fee 807. 808. 809. 810. 900. ITEMS REQUIRED BY LENDER TO BE PAID IN ADVANCE 901. Interest from 902. Mortgage Insurance Premium for 903. Hazard Insurance Premium for 904. 905. 1000, RESERVES DEPOSITED WITH LENDER 1001. Hazard insurance 1002. Mortgage insurance 1003. City property taxes 1004. County property taxes 1005. Annual assessments 1006. 1007. 1008. Aggregate Accounting Adjustment 1100. TITLE CHARGES 1101. Settlement or closing fee To: STC 50.00 1102. Abstract or title search To: STC 70.00 1103. Title examination To: STC 75.00 1104. Title insurance binder 1105. Document preparation 1106. Attorney's Fees To: Richard D. Green, Esquire 750.00 1107. FL Risk Rate (Includes above item numbers: ) 1108. Title Insurance To: SOMERS TITLE COMPANY 100.00 (Includes above item numbers: ) 1109. Lender's coverage @ 1110, Owner's coverage 10, 100.00 @ 100.00 1200. GOVERNMENT RECORDING AND TRANSFER CHARGES 1201. Recording fees: Deed $10.50 Mortgage $0.00 Releases $0.00 To: Clerk of the Court 10.50 1202. City/county tax/stamps: 1203. State tax/stamps: Deed $70.70 Mortgage $0.00 To: Clerk of the Court 70.70 1204. Record Deed from 2 Heirs To: Clerk of the Court 11.20 1205. Record 2 Easements & Release of Mortgage To: Clerk of the Court 54.00 1206. Record Not Same Name Affidavit To: Clerk of the Court 6.00 1207. Record Lien Release To: Clerk of the Court 6.00 1300. ADDITIONAL SETTLEMENT CHARGES 1301. Survey 1302. Pest inspection 1303. Fed Ex Fees to Mrs. Wade To: STC 30.00 1304. Reimbursement of Court Costs To: CITY OF CLEARWATER, FLORIDA, a Municipal Corporation of the 132.50 ~JUS. of Florida 1400, Total Settlement Cha es enter on lines 103 Section J and 502 SectionK I have carefully reviewed the HUD-1 Settlement Statement and to the best of my knowledge and belief, it is a true and accurate statement of all receipts and disbursements made on my account or by in this transaction, I further 'fy that I have received a copy of HUD-1 Settlement Statement. BORRO (S): SELLERfS): 1/) f"}-t/ ~,('{ Wallace Wade -vj~r &/Wtk ~. tJrA Earnestine U. Wade hich I have prepared is a true and accurate account of this transaction. I have caused or will cause the funds to be disbursed in accordance with this 1/10/03 S S llih NOTE: Taxe have prorated based on taxes for the year. Any re-proration will be handled between the buyer and seller. All utility bills (water, sewer, electric, cable and maintenan fees) h e been paid or will be paid upon receipt of final bills. WARNIN . It is a crime to knowingly make false statements to the United States on this or any other similar form. Penalties upon conviction can include a fine or imprisonment. For details s : Title 18 U.S. Code Section 1001 and Section 1010. ,.";;:;t;:t.."".u,~::;O'~^$?."'d~''-'">='''':o.lIf-' ~:r";'~~:-l~., .,V." ''.''~''''/~'~'":''.:.~'~!:r': W ,',!. H 'I',', )/; li <> l' ;~?::: ;, k .j(. '1" ,~!;. ~ Jl. ,"". "(l, ',~f: ,;(- ~V~ 1 <I '1, ,'*'~ ':!\~ :H: ,:~ t~ .:!{: 1; <> 'W' ::.'j J'> :) to; j:~ ..,t, <> l l~~ 1 d '1' ;:t,:: 'It .) . 'I' :p: :~!f 1; d Y ~!{ .\ ~ ~ " N~ l' .0 l :,,< ~i\~ 11 ;A~ .0 ~'!f .' I , :"j1 (;> ~~ ;: , , " > " ;\ , ' . ~""J '- AMERICAN LAND TITLE ASSOCIATION OWNER'S POLICY 10-17-92 (Florida Modi1led) '.', , File #02080032c POLICY NO. !OP-9-170S-2S71 OWNER'S POLICY OF TITLE INSURANCE ISSUED BY AMERICAN PIONEER TITLE INSURANCE COMPANY SUBJECT TO THE EXCLUSIONS FROM COVERAGE, THE EXCEPI'IONS FROM COVERAGE CONTAINED IN SCHEDULE B AND THE CONDITIONS AND STIPULATIONS, AMERICAN PIONEER TITLE INSURANCE COMPANY, a Florida 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. Un marketability 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, AMERICAN PIONEER 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. Issued J:>y: ~NE SCHAFFER Some s Title Company 129 Court Street Clef rwater, FL 33756 (727) 441-1088 Fax (727) 449-1359 AMERICAN PIONEER TITLE INSURANCE COMPANY By. 40 ~id~ Attest~ /~ Secretary ,... OP-9 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) restricting, 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; (ili) 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) resu~ing 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: (a) the transaction creating the estate or interest insured by this policy being deemed a fraudulent conveyance or fraudulent transfer; or (b) the transaction creating the estate or interest insured by this policy being deemed a preferential transfer except where the preferential transfer results from the failure: --" (i)to-limelyrecordlhe instrument of transfer; or (ii) of such recordation to impart notice to a purchaser for value or a judgment or lien creditor. 1. DEFINITION OF TERMS CONDITIONS AND STIPULATIONS 4. DEFENSE AND PROSECUTION OF ACTIONS; DUTY OF INSURED CLAIMANT TO COOPERATE 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 ciaiming loss or damage, Ie) "knowledge" or "known": actual knowledge, not constructivo knowledge 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 constructive notice of matters affecting the land. (d) "land": the land described or referred to in Schedule [AI, and improvements 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 righ~ 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": records established under state staMes 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 (alliv) of the 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 insl,Jred 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 damage for which the Company may be liable by virtue of this policy, or (iii) if title to the estate or interes~ 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'J~ent of ~.prejudice. ' (a) Upon written request by the insured and subject to the options contained in Section 6 of these Conditions and Stipulations, the Company, at its own cost and without unreasonable delay, shall provide for the defense of an insured in litigation in which any third party asserts a claim adverse to the title or interest as 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 righ~ 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, (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 jurisdiction and expressly reserves the right, in its sole discretion, to appeal from any adverse judgment or order. (d) In all cases where this policy permits or requires the Company to prosecute or provide for the defense of any action or proceeding, the insured shall secure to the Company the right to so prosecute or provide defense in the action or proceeding, and all appeals therein, and 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 proceeding, or effecting settlement, and (ii) in any other lawful act which in the opinion of the Company may be necessary or desirable to establish the title to the estate or interest as insured. If the Company is prejudiced by the failure of the insured to furnish the required cooperation, the Company's obligations to the insured under the policy shall terminate, including any liability or obligation 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 Conditions 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. Wthe 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 obligation to defend, prosecute, or continue any litigation, with regard to the matter or matters requiring such proof.~ I",s or 1~mage, "- ~ OWNER'S POLICY ., .~ ." Schedule A State: FL County: Pinellas File Number 02080032c Policy Number OP-9-1708-287 Effective Date January 15, 2003 Effective Time 2:56 PM Amount of Policy $10,100.00 Commitment #; Simultaneous #: Reinsurance #: 1. Name of Insured: CITY OF CLEARWATER, FLORIDA, a Municipal Corporation of the State of Florida 2. The estate or interest in the land described herein and which is covered by this policy is: Fee Simple 3. The estate or interest referred to herein is at Date of Policy vested in the insured. 4. The land referred to herein is described as follows: Parcel No. 10-29-15-69048-005-0040 Parcel "A": FEE SIMPLE ACQUISITION LOT 4, BLOCK "E", PINE BROOK SUB-DIVISION UNIT 2, LESS the West 225 feet, according to the map or plat thereof as recorded in Plat Book 23, Page 71, Public Records of Pinellas County, Florida. Parcel "B": PERPETUAL EASEMENT The East 25 feet ofthe West 225 feet of Lot 4, Block "E", PINE BROOK SUB-DIVISION UNIT 2, according to the map or plat thereof as recorded in Plat Book 23, Page 71, Public Records of Pinellas County, Florida. Parcel "C": TEMPORARY EASEMENT The East 20 feet of the West 200 feet of LOT 4, Block "E", PINE BROOK SUB-DIVISION UNIT 2, according to the map or plat thereof as recorded in Plat Book 23, Page 71, Public Records of Pinellas County, Florida. e: This Policy consists of insert pages labeled Schedule A and B. This pOlicy is of no force and effect unless all pages are included along with any a ed pages incorporated by reference. ned Authorized Signatory MARIANNE SCHAFFER Issued By: 1875* 02080032c SOMERS TITLE COMPANY 1290 COURT STREET CLEARWATER, FL 33756 or. .F '\ ,. OWNER'S POLICY Schedule B This policy does not insure against loss or damage by reason of the following exceptions: 1. Rights or claims of parties in possession not shown by the Public Records. 2. Encroachments, overlaps, boundary lines disputes, and other matters which would be disclosed by an accurate survey and inspection of the premises. 3. Easements or claims of easements not shown by the Public Records. 4. Any lien, or right to a lien, for services, labor, or material heretofore or hereafter furnished, imposed by law and not shown by the public records. 5. Community property, dower, survivorship, or homestead rights, if any, of any spouse of the insured. 6. Any adverse ownership clain by the State of Florida by right of sovereignty to any portion of the lands insured hereunder, including submerged, filled, and artificially exposed lands and lands accreted to such lands. 7. Taxes and assessments for the year 2002, and thereafter and/or special assessments, if any, not recorded in the public records. **The following items, as listed above, are hereby deleted: 1 and 4 ** 8. Subject to covenants, conditions and restrictions recorded in Deed Book 1137, Page 565, Public Records of Pinellas County, Florida, but omitting any based on race, color, religion, sex, handicap, familial status or national origin unless and only to the extent that the covenant, condition or restriction (a) is exempt under Title 42 of the United States Code, or (b) relates to handicap, but does not discriminate against handicapped persons. 9. Subject to 4 ft utility easement over and across the Southerly boundary line as shown on Plat recorded in Plat Book 23, Page 71, Public Records of Pinellas County, Florida. 10. Filled land and riparian rights, rights of reliction, accretion, submerged land or any other water rights of any nature, whatsoever, are neither guaranteed nor insured herein. 11. The rights of the general public to use the waters of Stevensons Creek for bathing, boating, fishing, and other purposes. 12. Drainage and Utilitiy Easemetn filed January 15, 2003 in O.R. Book 12474, Page 2520, of the Public Records of Pinellas County, Florida. Policy #: OP-9-1708-287 2 File #: 02080032c Note: This Policy consists of insert pages labeled Schedule A and B. This policy is of no force and effect unless all pages are included along with any added pages incorporated by reference. '- . ;;;.'-. -~ r CONDITIONS AND STIPULATIONS - CONTINUED In addition, the insured claimant may reasonably be required to subm~ to 9. LIMITATION OF LIABILITY examination under oath by any authorized representative of the Company and shall produce for examination, inspection and copying, at such reasonable times and places as may be designated by any authorized representative of the Company, all records, books, ledgers, checks, correspOndence and memoranda, whether bearing a date before or after Date of Policy, which reasonably pertain to the loss or damage. Further, if requested by any authorized representative of the Company, the insured claimant shall gran! its permission, in writing, for any authorized representative of the Company to examine, 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 Company, it is necessary in the administration of the claim. Failure of the insured claimant to submit for examination under oath, produce other reasonably requested information or grant permission to secure reasonably necessary information from third parties as required 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, attomeys' 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 continue any I~igation, 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. (il to payor otherwise settle with other parties for or in the name of an insured claimant any claim insured against under this pOlicy, together w~h 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, prosecute or continue any I~igation. 7. DETERMINATION, EXTENT OF LIABILITY AND COINSURANCE This pOlicy is a contract of indemnity against actual monetary loss or damage sustained or incurred by the insured cla:mant who has suflered 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 dealing with Coinsurance was removed from Florida policies.) (c) The Company will pay only those costs, attomeys' fees and expenses incurred in accordance with Section 4 of these Cond~ions 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. (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 tilie, all as insured, in a reasonably diligent manner by any method, including litigation and the completion of any appeals therefrom, ~ 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 I~igation, including litigation by the Company or w~h the Company's consent, the Company shall have no liability for loss or damage until there has been a final determination by a court of competent jurisdiction, and disposition of all appeals therefrom, adverse to the tide 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 ~ is expressly understood that the amount of insurance under this policy shall be reduced by any amount the Company may pay under any pOlicy insuring a mortgage to which exception is taken in Schedule B or to which the insured has agreed, assumed, or taken subject, or which is hereafter executed by an insured and which is a charge or lien on the estate or interest described or referred to in Schedule A, and the amount so paid shall be deemed a payment under this pOlicy to the insured owner. 12. PAYMENT OF LOSS (a) No payment shall be made w~hout producing this pOliCY for endorsement of the payment unless the pOlicy has been lost or destroyed, in which case proof of loss or destruction shall be furnished to the satisfaction of the Company. (b) When liability and the extent of loss or damage has been definitely fixed in accordance with these Conditions and Stipulations, the loss or damage shall be payable within 30 days thereafter. 13. SUBROGATION UPON PAYMENT OR SETTLEMENT (a) The Company's Right of Subrogation. Whenever the Company shall have settled and paid a claim under this pOlicy, all right of subrogation shall vest in the Company unaffected by any act of the insured claimant. The Company shall be subrogated to and be ent~led to all rights and remedies which the insured claimant would have had against any person or property in respect to the claim had this pOlicy not been issued. If requested by the Company, the insured claimant shall transfer to the Company all rights and remedies against any person or property necessary in order to perfect this right of subrogation. The insured claimant shall perm~ 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 I~igation involving these rights 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 remedies in the proportion which the Company's payment bears to the whole amount of the loss. If loss should result from any act of the insured claimant, as stated above, that act shall not void this pOlicy. but the Company, in that event, shall be required to pay only that part of any losses insured against by this pOlicy which shall exceed the amount, if any, lost to the Company by reason of the impairment by the insured claimant of the Company's righ! of subrogation. (b) The Company's Rights Against Non-insured Obligors. The Company's right of subrogation against non-insured obligors shall exist and shall include, without limitation, the rights of the insured to indemn~ies, guaranties, other pOlicies of insurance or bonds, notwithstanding any terms or conditions contained in those instruments which provide for subrogation rights by reason of this pOlicy. 14. ARBITRATION (This paragraph was modified for Florida policies.) Unless prohibited by applicable law, arbitration pursuant /0 the Title Insurance Arbitration Rules of the American Arbitration Association may be demanded if agreed /0 by both Company and the insured. Arbitrable matters may include, but are not limited /0, any controversy or claim between Company and the insured arising out of or relating /0 this policy, and service of Company in connection with its issuance or the breach of a policy provision or other obligation. Arbitration pursuant /0 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 ~- . ,.'".- .. '0 '0908-09<: (LOv) :8U04d818.1 'LOLc:€ ep!JOI::! 'NJeqlesseO 'pJe^8Inos ueJowes 1883 €6v Ie ~uedwoo 841 01 peSS8Jppe eq lIe4S pue A:)!Iod S!41 jO Jeqwnu 841 9pnpU! lIe4s ~uedwoO 941 pe4s!wnl eq 01 peJ!nb8J 6U!~JM U! IU8W818\S ~ue pue ~uedwoo 841 U8^!6 eq 01 p8J!nb8J S90!\OU III;;' .1N3S 3Y3HM 'S301.10N 'L~ '\:>8jjEl pue 80JOllll1l U! U!eW8J lIe4S SUO!S!^OJd J8410 lie pue UO!S!^OJd le41 9pn10U! 01 IOU peW88p eq lIe4s ~O!lod 841 'Mel 81qeo!ldde J8pUn 81Qe90JQJU9un JO P!I8^U! Pl84 S! ~O!lod 81.11 jO UOlS!^OJd ~ue 1U9^8 81.11 U\ AlIlI8W3A3S '9~ "~uedwoo 81.11 jO A1ateu6!s pezpoll\f1e JO J90!110 6u!lep!le^ JO 'Mei9J08S IU8\S!SSV ue 'MlIaJOes 941 '\U8P!S9Jd 80!^ e '\U8P!S8Jd 81.11 J91.11!8 ~Q peu6!s 0\9J94 pe408lle JO uoeJ84 pesJOpU8 6U!I!JM e ~Q 1d80X8 8peW eq ueo ~O!lod S!41 at 1U9WesJOPU8 JO 10 1U8wpu8we ON (0) '~O!lod S!41 at p8\:>!.l\S8J eq lIe4s 'w!ep 40ns 6U!lJ8sse uo~e ~ue M1 JO ~Q8J84 peJ8^00 1S9J8\U! JO 818\S9 841 at 811!1 81.1110 SI1\8\S 91.11 jO \110 S9S!Je 40!4M pue '90U86!168U UO peseq IOU JO J8ll\ll4M '96ewep JO SSOI jO W!eIO ~UI;;' (Q) '8104M e se p9nJ\SUOO eq lIe4S ~O!lod S!I.II '~O!lod S!41 10 UO!S!^OJd ~ue 6u!\8JdJ8\U! UI "~uedwoo 91.11 pue peJnSU! 941 U88M\eq \:>e.l\UOO pue ~O!lod 8J!\U8 81.11 S! ~uedwoO 841 ~Q 018J94 p8408lle '~ue p. 'S\U9WesJOPU8 lie I.IIlM J8ll\9601 A:>!iod 814.1 (e) .1OW.1NOO 3YUN3 AOnOd ~AOnOd SIH.1 OJ. a::WMln A.1I11BVn 'S~ lS8nbeJ uodn ~uedwoo 91.11 WOJj peU!l!I<lO eq Aew S81nl::l 91.11 jO ~do:> I;;' 'S81nl::l UO!leJ\!llJl;;' 80uemsuI 81~.1 81.11 J8pUn UO!leJ\!C\J8 ue at ~Idde lIe4s puel 81.11 jO Srl\!S 81.11 10 Mel 84.1 1oeJ91/1 UOfl:J!p$,unf 6ulAfllI ~no:> ,{ue U! p9J9/U9 eq ,{flW (s)JoIl1J/!qJlf 91/1 ,{q p9J9pU9J fJJfIMfI 9l/l uodn IU9w6pnr "AIJed 6U!I!flII9.Jd fI CII S99I ,sA9W011f1 fJJfIMfI CII ~no:> fI IIWJed fJ9IfI:JO/ S! PUfl/ 91/1 1I0!LIM U! 6lfllS 91/1 }O SMfI/ 91/1 J! ,{/UO S99J ,S,{9WOllfl eprl/OU! ,{flW PJflMfI 911.L "S9!IJed 91/1 uodn 6u!pu!q eq /lfllIS ,{O!/Od }O a3nNI.1NO:> - SNOI.1Ylndl.1S aNY SNOl.1laNO:>