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REPUBLIC MORTGAGE INVESTORS (2) '1 ~~~~~~"..: ,~ --, t' " i ../ :>, Q) ....1::00 ,..., ~,"<:I' ..oOt- "d:t5"<:1'00 Q) ~ ><?-i '"' 0 If:) ~.b~cr" (!)..... . cr" ~UO c(l ~ ."d rnZ~ p. 'C c(l..... "0 ~E-; ""- UJ~~ ~ ~ c(l ""~ (I,) I'V'\ ~ Q) CO.....I-<4-> ~ . c(l c(l p ~ (I,) ~ I-< - I-< ~UJUc(l I:: ...... '+oj Q) .......... 05 .~ ~ :>, ..s:10~ ~::qo ~ 00 .... l{~ cr" cr" -.. ~ ~ ~ o~r--....:l ~~'l:I'~ Z....:l>( " ~oifj ~~ .~ ~t:o< ",og.;~ . ~ <r: ~ ....:l t..: A I \ ~} /, Ie ' .., I RAMeo's FORM 34 I 79208922 ,/ WARRANTV DEED (TO CORPORA.TION) IInrrnuty O,R. 4 953 PAGE 425 lDrrb W4t!i 3Jttbruturr. Made, this 29th day of November BETWEEN REPUBLIC MORTGAGE INVESTORS, a Massachusetts Trust ,A.D.1979 Business dJ~i5'~ ~~ party of the first part, and City of Clearwater, Florida, a muni,cJ~~ration existingl!cTlc!e.rth(',lf!:tp~_ oLt"'~S1gJ.!LoLFl.orida- .._ ,having its principal plac(' of business in the County of Pinellas and SetUe of Florida and lawfully authorized to transact business in the State of Florida, party of the second part. WITNESSETH: That the said party of the first part, for and in consideration of the sum of $10 . 0 0 Dollars, to it in hand paid by the said party 01 the second part, the receipt whereof is hereby acknow- ledged. has granted, bargained and sold to the said party of the second part, its successors and assigns, forever, the following described land situate, lying and being in the County of Pinellas _.- ... 14 )4281014 72 0001. 41 500. 500. and State 01 Florida, to-wit: The North 165 feet of the Southvlest 1/4 of the Northwest 1/4 of Section II, Township 29 South, Range 15 East, pinellas County, Florida, LESS the West 200 feet and LESS the East 30 feet for street right-of-way. w 1:-.t; '~~ -, ~ t .$-.. 1~ ~r'''-i 5.',,', "'-"1":;;':" ....t- ,~;; , ~,~ _f~::-, If.:; --.=:::! 1-'''' ,I. :;. .., This conveyance is subject to: 1. All covenants, restrictions, easements and limitations of record if any; but this provision shall not operate to reimpose same. 2. Zoning ordinances and other 'applicable governmental regulations; and existing violations, if any. .A :. il f. ........ .. 3. Taxes and assessments for 1979 and subsequent years. 01 Clsh 11 Chg.~ ) 40llt 7:~(" . --, 41 OS.:.~._~ 43 Int .L.r -.", ~ T ~ 5V). ....."...- "".~ t'...t'I\"". {~:"'1~-" ,.. ~, ,:.,-,,,,,,,\' ,.~;:' '. > ~ ,,1' \ ~r<~. ;! '. '_.-,: :~ '.-- <' .,.' ';~ STATE OF, F.LqR,lqA,L~I. co DOCUMENTARY.;;...,,",. illi.~.r.._.'...!.- :: .~PT. o~ HEVENlJ_E(:~.'" _."-~, ""'," CO> ~ P.8. = OEC"6'7~ ~~~-j ~ 0 0..0 0 t = H4IS<"':~~/ ",' ' .._ t '.' '..... -:-...... -. ......^'., """'. ...-... en ~ .. .'- - """\ : '....';'-- . c:> And tllf' said part y 01 the first part does hereby fully warrant the title to said land, andu:i(l d('/end ,'\,' th.. same against the lau;ful claims 01 all persons whomsoever. f' IN WITNESS WHEREOF, th(! said party hereunt~ SN:' 01 the first part hand and seal thp day and year above written. ''':'',c~! . Sign.,d. ':9 and ~('[il!,'r..d in prpsp."nc,' of us: '~~~ r2.~~ } , (8etJI I ,'-.J;' , I ;\' (, Mortgage Business /.2-01'f (3'1) i:;;;; )';... /' I I .".. .~ '-t ~ ~ ~ l.t --.. ~ .., 0 .., .... :! ::rJ~ 0: .... '0 """ ... -.+-t 0 0 := Q., Q;: 0 Q;: ~ u 0 :! ttS <..l c( 0: $-t 0 E... ~ '- ~ . e") ""0 ..do. ('\) ,.... ..;;.C o E... ~ o .... E... Q., .... Q;: <..l 1IJ ~ Q ~ o E... <..l ~ Q;: E... 1IJ Q:l ~ ~ Cot ..... ~ I1iQ 10 Al1mO;) . 'passiJ.Jd xa at{ lvl{1 ClW a.lOlaq piJfJpiJ] uos.lad Cll{1 <Jq 01 umou'f 11iJm aw 01 . ~ ~.liJl{1 s<Jsod.md <Jl[1 .101 A1?.lVIUn]O'l puv A],},}4 rilllVS -mou'f;)JJ puv 'piJiJp fJU!ofJiJ.lOI iJlll ~S q~ESSEW E Is~o~saAuI aDED~~oW ~1TqndaH JO saa~sn~ili SE I UOSqO:JE.r p~Eu~aa 'SIUiJw';}piJ]mou'f;)V iJJ.[Vl pUV IHflvO .ldlS!U!WPV 01 f~_:-- ':"'/'J . ,..... i::::l ~ 'c: ~~ 4j' -, '0 #(... Ii, .'""-:~..- ~~IiIJ1,4IlI~. siJ.l!dxa UO!sS!1ll1ll0J .{fll ~!~~,\~~I ~... AWIaI 10 alvlS '~]qnd A.lVI0N ~/~~<I/>pr;;hy . \ - ~~ ~~~ T!' - - ~ ~ {o f.op 'P bl:: "'[' 'oPi'ol-' 10 ,""s p= C' ~ ./'~- ~([ 10 A1UnO;) . IV ]vas ]V!;)!UO puv PUVl[ Alll !l!ldUIHIllE '....,.. ~'",' .,. .r'lI'l'1'lfTl'1l'rr"C! ':;'j'f. 'JIIFl'! fCJ In .n::r.J to' . ' . '. :~>:-111!'J. RIIV A1?.lVlun]Oa puv AliJiJ.lj paiJp '[Y!lIS al{1 p,,;n:JiJXiJ iJl{S lVl{1 pUV 'U!iual{1 piJq!:JSiJp SPUV] iJl 1 01 ~ -'arq'tf1?nbiJ .10 A.lOml1J1S ',\I.ladO.ld iJIV.lOOiJS 10 .10 PV;>I!!iJW01J '.liJmOp .lal[liJ1Jm 'l!!iJ.liJ. '!1 I1JH!.l .lilll 111, Hu!.\iJrlUO:J pUV HUI1{s!nbu!p.l 'Hu!:JunoUiJ.l 10 iJsod.lnd iJ1Jl .10 iJ. liixl V f1;'JS.liJ1J iJpVW iJ1JS 1'01[1 iJHpiJ] -mouJ.[:Jv p?P 'puvqsnlJ '[Y!VS .lill{ WO.if 1.100'0 as 'aw iJ.lOliJq puv Aq apvlU puv UiJ'fVl UO!IVU!WVXiJ iJIVi1!.ld puv iJlv.lvdiJS v ' P?V!! iJlJI 10 iJ!!m iJ1Jl iJq 01 apEQ 10 AIU7IO;) 'VanIO?.1 .10 3.IV.IS t... ElM I" .-',';:' \ ,.. . ~'S . 'passiJ.ld Xi) ~iJ.l,}-~1 siJsod~ncf:U1J1 .101 A1?.IVlunloa puv A]i'Jd.l1 cJutllS iJlJl pi'Jm:JiJxi'J at{ 1'01/1 riW rl.lOliJq p<)fJpiJ] '.llOU'f:JV PUV'PiJiJpfJu!ofJa.lol iJ1Jl piJm:JaxiJ o1Jm puo U! piJq?.I:JSiJp UOS.liJd ,>I{I i'Jq 01 umou'f lli>m iJut 01 ~ili ssau1sna-s~~aSnt{:JESSE~J E Is~O~SaAuI aDED~~OW :J1TqndaH JO saa~Sn~ili at{~ JO eeu1wON SE I UOSqO~E.r p~EU~aH 'SIUiJwfJpi'J]moUJ.[;)JJ iJ'fVl puv S1JIVO .IiJlS!U?WPV 01 p,}Z?,!,ol{mv'Alnp .JcJ:7?UO Uv 'aut J.Jolaq pa.lviJddv AllVUOS.li)d AVP S?1Jl uo 1v1J.L 'fij!JJJ1i) fiqd.tJ}( I[ 9~'1 39Vd E 9 6 'i '~'O ~C!: .10 A..LNnO:J 'VaIHO?.1 .10 3.LV,LS ';,0 - ~~ I I CLOSING STATEMENT Clearwater ~ Florida Nover.nber 30~ 1979 SELLER: Republic Mortgage Investment Trust PURCHASER: City of Clearwater, Florida PROPERTY DESCRIPTION: N. 165 ft. of SW 1/4 of NW 1/4 of Sec. 11-'29-15 Credits to Seller: Sales Price $125~000.00 '/: I ;? Credits to Purchaser: Cash to Close j125,000.00 $125,000.00 $-1-2. 5 ,-000.00 :L/ / j, ,tJ; ,~ ,;;-..,/, ;" /,. ?ll ,} J REAL PROPER TY TAXES - $lT022..-50 Seller's share $9-3506-6/1.,."/ ::;;' 't Purchaserls share 86.-84 01.?-7 Expenses: Documentary StanlpS on Deed $500.00 Title Insurance - Century Title . 550.00 $1050.00 . ..... ~ ~'.- ,~" ! 01~11~ 40 Ree 7. ~ 41 OS 43 lot Tot ,- I 79207112 I O.R. ~ 9 51 PAGE 18 55 DISCHARGE OF MORTGAGE J -T /, '7 . ()-() ~ KNOW ALL MEN BY THESE PRESENTS: That Boston Safe Deposit and Trust Company, a Massachusetts Trust company, the owner and holder of a certain Mortgage executed by BERNARD JACOBSON, as Nominee of the Trustees of Republic Mortgage Investors to Boston Safe Deposit and Trust Company dated April 20, 1976, and recorded April 27, 1976 in Book 4404 at Pages 883, 918, 953, 988, and the owner and holder of a certain Collateral Assignment of Leases, Rents and Licences executed by Bernard Jacobson, as Nominee of the Trustees of Republic Mortgage Investors, dated April 20, 1976 and recorded April 27, 1976 in Official Records Book 4404 at Page 1017 and the owner and holder of a certain Financing Statement executed by Bernard Jacobson, as Nominee of the Trustees of Republic Mortgage Investors, dated April 20, 1976, and recorded in Official Records Book 4404 at Page 1020 (all of the foregoing in the Public Records of pinellas County, Florida), securing a series of promissory notes and certain promises and obligations set forth in said Mortgage, does hereby certify that the Mortgage, Financing Statement and Collateral Assignment of Leases, Rents and Licences has been satisfied in full and does hereby consent that the same be discharged of record. This satisfaction is given without recourse to the under- signed or to the banks for whom the undersigned acts as Agent. WITNESS my hand and the seal of the Trust Company this ~daYOf ~ , 1979. ATTEST: BOSTON SAFE DEPOSIT AND TRUST COMPANY, as Agent ~~.,D.~ Assistant Secretary ~~~~ By: ~~_ \ ice,~r,e,s dent, :,~.:tjl~~; ftJ' PI~EI.:'AS CO,Fl;OfUI1A ~..li..~ f(j..;I. ,.~ CLERIC OIRCUITCOURT Signed, sealed and delivered in the presence of: ~t:tuL ()i).f/,~L ~f/3~ /' Os ~ ~,l.PH~ll I I ~- D.R. ~ 9 51 PAGE 18 5 6 COMMONWEALTH OF MASSACHUETTS COUNTY OF SUFFOLK I, the undersigned, a Not. ary PUbl~c:~J-n, aand", for the in said State, hereby certify that C~ Cv - whose name as Vice President of Boston Safe Depo lt and Trust Company, a Massachusetts Trust Company, is signed to the fore- going instrument, and who is known to me, acknowledged before me on this day that, being informed of the contents of the instrument, he as such officer and with full authority, executed the same voluntarily for and as the act of said trust company on the day the same bears date. -~L C' 0: Given under my hand and official seal this A,11'fII"- , 19 7 9 . - Notary wealth My conunission exi?i:c~'es'~:::::, '\',...:. j" .J; ~', '::1~"',;",:~", .'<;;:" / EL" A, ,',.",~.."J"f.C,..."",.,T,U"", .,R"".~, "Not,tJ'Y:",~btl, ,0" My commi$$iol1'~ ~ l~\l." I.':',I"I! ,,' .::",:.:',-}-,'.'::';' "..;,"/ icer for filing pursuant to the Uniform Commercial Code: 3. Maturity date lif any): First) and address(es) obson, as The Trustees Mortgage 2. Secured Party lies) and address(es) For Filing Offillll' (Date, Time Boston Safe Deposit & Trus Company, a Mass. trust co pany One Boston Place Boston, Mass. 02106 D.R.~951 ~na~..l~.i~ Statement bearing File No. tary of State Date Filed 19 Ie original financing statement between the foregoing Debtor and Secured Party, bearing file number sho. 'cured party no longer claims a security interest under the financing statement bearing file number shown~' Ie secured party's right under the financing statement bearing file number shown above to the property des_e ;igned to the assignee whose name and address appear in Item 11. nancing Statement bearing file number shown above is amended as sel forth in Item 11. , cured Party releases the collateral described in Item 11 from the financing statement bearing file number. I documentary stamp taxes due and payable or to become due and payable pursuant to Chapter 201, F. S. b II TO: :,EHK " 47(~8 FLA. 3351R it ,.. at No. of additional sheets prese as By: ,tor(s) (necessary only if Item 8 is applicable). Signature(s) of Secu R COPY-Alphabetical STANDARD FORM - FORM UCC-3 Approved by Richard (Dick) Stone, Secretary of ~ CO.. INC;-- MI....... "1..01tID'+' 33101 '. ,'~) t' I' '1<" r. 1 1 " "l . . . j 'lhl~~ :" ,!, 'I:t I . ~ :'l"~ . l l ',_ .'.' {. t' J, ',., . POLICY NO. AW AMERICAN LAND TITLE ASSOCIATION OWNER'S POLICY ^,' . FORMA -1970 (Am,"' ended 10-17-70) ,~ !ITLE INSURANCE COMPANY OF INNESOTA -r a Stock Company, of Minneapolis, Minnesota SUBJECT TO THE EXCLUSIONS FROM COVERAGE, THE EXCEPTIONS CONT A1NED IN SCHEDULE BAND THE PROVISIONS OF THE CONDITIONS AND STIPULATIONS HEREOF, TITLE INSURANCE COMPANY OF MINNESOTA 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, and costs, attorneys' fees and expenses which the Company 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; or 3. Lack of a right of access to and from the land. IN WITNESS WHEREOF, the said Title Insurance Company of Minnesota has caused its corporate name and seal to be hereunto affixed by its duly authorized officers as of the date shown in Schedule A, the policy to be valid when countersigned by an authorized officer or agent of the Company. I'TLE INSURANCE t;;OMPANY OF lVl'NNESOTA ..~.,;,~'r' "r-"""" '..... ..l.; ~.." ,....r.;" 'f~....~,,~ ,*,104"'- President 1~'':' "~c' "r~::~ Secretary EXCLUSIONS FROM COVERAGE e following matters are expressly excluded from the coverage of this policy: 1. Any law, ordinance or governmental regulation (including but not limited to building and zoning ordinances) restricting or regulating or prohibiting the occupancy, use or enjoyment of the land, or regulating the character, dimensions or location of any improvement now or hereafter erected on the land, or prohibiting a separation in ownership or a reduction in the dimensions or area of the land, or the effect of any violation of any sllr.h law, ordinance or governmental regulation, 2. Rights of eminent domain or governmental rights of police power unless notice of the exercise of such rights appears in the public records at Date of Policy. 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 and not shown by the public records but known to the insured claimant either at Date of Policy or at the date such claimant acquired an estate or interest jnsured by this policy and not disclosed in writing by the insured claimant to the Company prior to the date such insured claimant became an insured hereunder; (c) resulting in no loss or ,damage to' the insured claimant; (d) attaching or created subsequent to Date of Policy; or (e) resulting in loss or damage which would not have been sustained if the insured claimant had paid value for the estate or interest insured by this policy. 4. The refusal of any person to purchase, lease or lend money on the estate or interest covered hereby in the land described in Schedule A. I -, L -.J tf"!?l. Form 119 ~ Copyright 1969 Amerlcen Lend Title Assocletlon 'l~i~J .-:' '~.< ~~ ,-;,':; u~' lri!!~ ~i~j I il~ :,~~!~:, il1L~ :.t*Fli III . 'Il CONDITIONS AND STIPULATIONS 1. Definition of Terms The following terms when used in this policy tnean: (a) "insured": the insured named in Schedule A, and, subject to any rights or defenses the Company 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 represen- tatives, next of kin, or corporate or fiduciary successors. (b) "insured claimant": an insured claiming loss or damage hereunder. ) (c) "knowledge": actual knowledge, not constructive knowl- edge 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 "land" 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. I -: ~ (f) "public records": those records which by law impart constructive notice of matters relating 10 said land. 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 so long as such insured retains an estale or interest in Ihe 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 Ihe indebledness 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 Company, at its own cost and withoul undue delay, shall provide for the defense of an insured in alllitigalion consisling of actions or proceedings commenced against such insured 10 Ihe extent that such litigation is founded upon an alleged defect,lien, encumbrance, or other matter insured against by Ihis policy. (b) The insured shall notify Ihe Company promplly in writing (i) in case any action or proceeding is begun as set forth in (a) above, (ii) in case knowledge shall come to an insured hereunder of any claim of tille or ,iJerest WhiC~:::t::::;:: i::d;i:c;~:: "'"'" !.. .. '-. . '. I "1 ! TIM OWNERS 6/75 FORM 2255 S FileNo. 10.732 Policy No. AW 094557 Policy Amount $ 125.000.00 SCHEDULE A 1. Policy Date December 6, 1979 at 4: 39 P. M. o'clock. 2, The Insured hereunder, in whom title to the fee simple estate is vested at the date hereof, is: THE CITY OF CLEARWATER 3. The land referred to in this policy is situated in the County of PINELLAS State of FLORIDA and is described as follows: The North 165 feet of the Southwest 1/4 of the Northwest 1/4 of Section 11. Township 29 South. Range 15 East, Pinellas County. Florida, less the West 200 and less the East 30 feet for Road right-of-way. A ,.. This policy valid only if Schedule B is attached. ~ ~:.... ,. TIM OWNERS 12/67 FORM 2256 I "' ~ " File No. 10.732 Policy No. AW. 094557 SCHEDULE B This policy does not insure against loss or damage by reason of the following: 1. Facts which would be disclosed by a comprehensive survey of the premises herein described, 2, Mechanics', Contractors' or Materialmen's liens and lien claims, if any, where no notice thereof appears on record, 3. Rights and claims of parties in possession. 4. County of Pinellas taxes for the yea,r 1979 and subs,equent yea,rs? which ta,xes fol;' the year 1979 will not become due and payable until November l~ 1979~ 5. Subject to terms and conditions of those certain restrictions filed in Official REcord Book 2069, page 34, Official REcord Book 2389, pa,ge 686, and Officia,l Record Book 2997, page 323, all Public Records of Pinellas County, Florida.. 6. Subj ect to that certain eas,ement executed to the CITY OF CLEARWATER in Of:f;icial Record Book 4156. page 221, Public Records of Pinellas County, Florida.. 7. Subject to any unpaid assessments to the CITY OF CLEARWATER, A ~ -,- " I eslale or interest as insured, and which might cause loss or damage for which the Company may be liable by virtue of this policy. If such prompt notice shall not be given to the Company, then as to such insured all liability of the Company shall cease and terminate in regard to the matter, Or matters for which such prompt notice is req uired; provided, however, thaI failure to notify shaH in no case prejudice the rights of any such insured under this policy unless the Company shall be prejudiced by such failure and then only 10 the extent of such prejudice. '--'~ -~ -', .-.0....;:..... ....., '....".-- ... ~._,......,~. ~ '-~'-' --.....- <..."" "I of all appeals therefrom, adverse to the title, as insured, as provided in paragraph 3 hereof; or (c) for liabilily voluntarily assumed by an insured in settling any claim or suit without prior written consent of the Company. (Continued from inside front flap) .. (c) The Company shall have the right at its own cost to institute and without undue delay prosecute any action or proceed- ing or to do any other act which in ils opinion may be necessary or desirable to establish the title to the estate or interest as insured, and the Company may take any appropriate aclion 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 Company shall have brought any aclion or interposed a defense as required or permitted by the provisions of this policy, the Company may pursue any such Iitigalion to final determination by a court of competent jurisdiction and expressly reserves the right, in its sole discrelion, to appeal from any adverse judgment or order. (e) In all cases where this policy permits or requires the Company to prosecute or provide for the defense o,f any action or proceeding, the insured hereunder shall secure to the Company the right to so prosecute or provide defense in such action or proceeding, and all appeals therein,and permit the Company to use, at its option, the name of such insured for such purpose. Whenever req uesled by the Company, such insured shall give the Company all reasonable aid in any such action or proceeding, in effecting settlement, securing evidence, obtaining witnesses, or prosecuting or defending such action or proceeding, and the Company shall reimburse such insured for any expense so incurred. 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 Company is liable under this policy shall be furnished to the Company within 90 days after such loss or damage shall have been determined and no right of action shall accrue to an insured claimant unlil 30 days after such statemenl shall have been furnished., Failure to furnish such statement of loss or damage shall terminate any liability of the Company under this policy as to such loss or damage. 5. Options to Pay or Otherwise Settle Claims The Company shall have the option 10 payor otherwise settle for or in Ihe name of an insured claimant any claim insured against or to terminate all liability and obligations of the Company hereunder by paying or tendering payment of the amount of insurance undef. this policy together wilh any costs, attorneys' fees and expenses incurred up to Ihe time of such payment or tender of payment, by the insured claimant and aulhorized ,by the Company. 6. Determination and Payment of Loss (a) The liability of the Company under this policy shall in no case exceed the least of: (i) Ihe actual loss of Ihe insured claimanl; or (ii) the amounl of insurance stated in Schedule A; or (b) The Company will pay, in addition to any loss insured against by this policy, all costs imposed upon an insured in Iitigalion carried on by the Company for such insured, and all costs, attorneys' fees and expenses in litigation carried on by such insured with the written authorizalion of the Company. (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 thereafler. 1. Limitation of Liability No claim shall arise or be maintainable under this policy (a) if the Company, after having received notice of an alleged defect, lien or' encumbrance insured against hereunder, by litigation or olher- wise, removes such defect, lien or encumbrance or establishes the tille, 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 B. 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 Company. 9. Liability Noncumulative II 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 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 Company shall have the option 10 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 Date of Policy of each separate parcel to the whole, ~xclusive of any improvements made subsequent to Date of Policy, unless a liability or value has otherwise been agreed upon as to each such parcel by the Company and the insured at the time of the issuance of this policy and shown by an express statement herein or by an endorsement attached hereto. 11. Subrogation Upon Payment or Settlement Whenever the COmpany shall have settled a claim under this policy, all right o(subrogation shall vest in the Company unaffected by any act of the insured claimant. The Company shall be subrogated to and be entitled to all rights and remedies which such insured claimanl would have had against any person or property in respect to such claim had this policy not been issued, and if requested by the Company, such insured claimant shall transfer to the Company all rights and remedies against any person or property necessary in order to perfect such right of subrogation and shall permit the Company 10 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 Company shall be subrogaled to such rights and remedies in the proportion 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 Company, in that event, shall be required to pay only thaI part of any losses insured against hereunder which shall exceed the amount, if any, lost to the Company by reason of the impairment of the right of subrogation. 12. Liability Limited to this Policy This instrumenttogelher with all endorse men IS and other inslruments, if any, attached hereto by the Company is the entire policy and contract between the insured and the Company. Any claim of loss or damage, whether or not based on negligence, and which arises out of Ihe status of the title to the estate or interest covered hereby or any action asserting such claim, shall be restricted 10 the provisions and conditions and stipulations of this policy. No amendment of or endorsement to this policy can be made excepl by writing endorsed hereon or attached hereto signed by either the President, a Vice President, the Secretary, an Assistant Secretary, or validating officer or authorized signatory of the Company. 13. Notices. Where Sent All nolices required to be given the Company and any statement in writing required to be furnished the Company shall be addressed to its Home Office, Minnea'polis, Minnesota 55401. Note: This policy valid only if Schedules A and B are attached, TITLE INSURANCE POLICY AMERICAN LAND TITLE ASSOCIATION OWNER'S POLICY FORM A -1970 (Amended 10-17-70) , ., '''- ...... TITLE NSURANCE Home Office: 400 -,2nd Ave. So., Minneapolis, Minn. 55401 OMPANY OF 'INNESOTA 612/371,1111 :!,j.? .,;~~ :. I ' .~ :,~ ~ .' : ~ ~ I , ~1:> I- I, Lucille Williams, duly appointed City Clerk of the City of Clearwater, Florida, hereby certify the records of this office have been searched and there is no "Notice of Claim" by Republic Mortgage Investors on file here. Witness my hand and of Clearwater this ")10 the seal of the day of ~ City 19 fo . oe.. ~I~ L ~" '_~--, City Clerk '- I COMMITMENT NO. F 17 3 0 7 6 I o U'PaovaD ...... AMERICAN LAND TITLE ASSOCIATION COMMITMENT - 1970 Rev. TITLE INSURANCE COMPANY OF MINNESOTA a Stock Company of Minneapolis, Minnesota TITLE INS URANCE COMPANY OF MINNESOTA, a Minnesota corporation, 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 Stipula- tions 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 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. IN WITNESS WHEREOF, Title Insurance Company of Minnesota has caused its corporate name and seal tobe hereunto affixed by its duly authorized officers on the date shown in Schedule A, to be valid when countersigned by a validating officer or other authorized signatory. TITLE INSURANCE COMPANY OF MINNESOTA CENTURY TITLE & ABSTRACT, INC. ~/1~ Secretary "SCHEDULE A" FORM - FOR USE WITH COMMITMENT FOR TITLE INSURANCE I I File No. Commitment No. F 10,732 SCHEDULE A 1. Effective date: November 19, 1979 at 5:00 P.M. 2. Policy or Policies to be issued: Amount: (a) AL TA Owners Policy - Standard Form A - 1970 (amended 10/17/70) 173076 Proposed Insured: $ 125,000.00 CITY OF CLEARWATER (b) AL T A Standard Loan Policy - 1970 (amended 10/17/70) $ Proposed Insured: 3. The estate or interest in the land described or referred to in this Commitment and covered herein is a FEE SIMPLE (Fee Simple, leasehold, etc.) 4. Title to the Fee Simple estate or interest in said land is at the effective date hereof vested in: REPUBLIC MORTGAGE ItNESTORS, a Massachusetts Business Trust 5. The land referred to in this Commitment is described as follows: The North 165 feet of the Southwest 1/4 of the Northwest 1/4 of Section 11, Township 29 South, Range 15 East, Pine11as County, Florida, less the West 200 and less the East 30 feet for Road right of way. TIM Form 2420 This Commitment valid only if Schedule B is attached. A -r "SCHEDULE B" iORM - FOR USE WITH COMMITMENT FOR jlTLE INSURANCE 10,732 . COMMITMENT NO. F1 LE NO. F 173076 SCHEDULE B The following are the requirements to be complied with: 1. Payment of the full consideration to, or for the account of, the grantors or mortgagors. 2, Instrument(s) necessary to create the estate or interest to be insured must be properly executed, delivered and duly filed for record: (a) Warranty Deed to be executed by Bernard Jacobson, as Nominee of the Trustees of the Republic Mortgage Investors, a Massachusetts Business Trust to the City of Clearwater. 3. Other instruments which must be properly executed, delivered and duly filed for record, and/or other mat- ters which must be furnished to the company: (a) Prior to the issuance of a Loan Policy hereunder, a copy of the Notice to Purchaser -Mortgagor Form, as required by the Insurance Commissioner of the State of Florida, must be properly executed and re- turned to the office issuing this Commitment (if applicable). (b) Partial Release of those certain Mortgages executed by Republic Mortgage Investors, a Massachusetts Business Trust to Boston Safe Deposit and Trust Company, dated April 20, 1976 and filed April 27, 1976 in Official Record Book 4404, page 883, Official Record Book 4404, page 918, Official Record Book 4404, page 953 and Official Record Book 4404, page 988 of the Public Records of Pinellas County, Florida in the amount of $11,695,406.16. (c) Release of that certain Collateral Assignment of Mortgage executed by Republic Mortgage Investors, a Massacusetts Business Trust filed April 27, 1976 in Official Record Book 4404, page 1017 of the Public Records of Pinellas County. (d) Release of that certain Financing Statement executed by Republic Mortgage Investors, a Massachusetts Business Trust filed April 27, 1976 in Official Record Book 4404, page 1020 of the Public Records of Pinellas County, Florida. II Schedule B 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, Rights or claims of parties in possession, 3. Unrecorded easements, if any, on, above or below the surface; and any discrepancies or conflicts in boundary lines or shortage in area or encroachments, which a correct surveyor an inspection of the premises would disclose, 4, Possible unfiled mechanics' and materialmen's liens. 5. General or special taxes and assessments required to paid in the year subsequent years. 6. Subject to terms and conditions of those certain restrictions filed in Official Record Book 2069, page 34, Official Record Book 2389, page 686 and Official Record Book 2997, page 323 all of the Public Records of Pinellas County, Florida. 7. Subject to that certain easement executed to the City of Clearwater in Official Recor,d Book 4156, page 221 of the Public Records of Pinellas countA, orida. 8. Subject to any unpaid assessments to the City of Clearwater. tW T 1979 and TIM Form 2421 .... '..... -.>' I I CONDITIONS AND STIPULATIONS 1. 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 Commitment other than those shown in Schedule B 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 of the proposed Insured to so disclose such knowledge. If the proposed Insured shall disclose such knowledge to the Company, or if the Company othelWise acquires actual knowledge of any such defect, lien, encumbrance, adverse claim or other matter, the Company at its option may amend Schedule B 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 ofInsured in the form of policy or policies committed 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, 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 and the Conditions and Stipulations and the Exclusions from Coverage of the form of policy or policies com- mitted for in favor of the proposed Insured which are hereby incorporated by reference and 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 provisions of this Commitment. TITLE INSURANCE COMPANY OF MINNESOTA ~ -r 400 SECOND AVENUE SOUTH/MINNEAPOLIS, MINNESOTA 55401 Telephone (612) 332-5111