STEWART TITLE GUARANTY COMPANY
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TO:
FROM:
COPIES:
SUBJECT:
DATE:
1
Cyndie Goudeau, City Clerk
CITV.I-oP CLEARWATER
Inl8tif!lepartment Correspondence Sheet
James V. Hensley, Asst. to the Public Works Director for Property Matters
Joseph R. McFate, II, Interim City Manager; E. S. Haeseker, Asst. City Manager;
Bill Baker, Dir. of Public Works
Title Insurance Policy for "Old Ceta Building" Located on Cleveland Street,
Recently Acquired from pinellas County
October 29, 1987
Enclosed 1S the subject document.
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Enclosure
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AL TA Owner's Poli,1Y - Form B - 1970 (Rev. 10,17-70 and 10-17,84)
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POLICY OF TITLE INSURANCE ISSUED BY
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87090052
STEWART TITLE
GU ARANTY COMPANY
SUBJECT TO THE EXCLUSIONS FROM COVERAGE, THE EXCEPTIONS CONTAINED IN SCHEDULE BAND
THE PROVISIONS OF THE CONDITIONS AND STIPULATIONS HEREOF, STEWART TITLE GUARANTY
COMPANY, a corporation of Galveston, Texas, 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;
3. lack of a right of access to and from the land; or
4. Unmarketability of such title
IN WITNESS WHEREOF, Stewart Title Guaranty Company has caused this policy to be signed and sealed by its
duly authorized officers as of Date of Policy shown in Schedule A.
STEWART TITLE
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GUARANTY COMPANY
Chairman of the Board
Cou ntersigned:
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Authorized Countersignature
EXCLUSIONS FROM COVERAG
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President
The following matters are expressly excluded from the coverage of this policy:
1. (a) Governmental police power.
(b) Any law, ordinance or governmental regulation relating to environmental protection.
(c) Any law, ordinance or governmental regulation (including but not limited to building and zoning ordinances) restricting or regulat-
ing 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 change in the dimensions or area of the land or any parcel
of which the land is or was a part.
(d) The effect of any violation of the matters excluded under (al, (b) or (c) above, unless notice of a defect, lien, or encumbrance re'
suiting from a violation has been recorded at Date of Policy in those records in which under state statutes deeds, mortgages, lis pendens,
liens or other title encumbrances must be recorded in order to impart constructive notice to purchasers of the land for value and without
knowledge; provided, however, that without limitation, such records shall not be construed to include records in any of the offices of fed,
eral, state or local environmental protection, zoning, building, health or public safety authorities.
2. Rights of eminent domain 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; (bl
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 insured 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.
Page I of 0 9922
Polley . .
Senal No,
42353
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1.
DEFINITION OF TERMS
CONDITIONS AND STIPULATIONS
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 may have
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, dis-
tributees, devisees, survivors, personal representatives, next
of kin, or corporate or fiduciary successors.
(b) "insured claimant": an insured claiming loss or
damage hereunder.
(c) "knowledge": actual knowledge, not constructive
knowledge or notice which may be imputed to an insured
by reason of any public records.
(d) "land": the land described, specifically or by
reference in Schedu Ie A, and improvements affixed thereto
wh ich by law constitu te real property; prov ided, however,
the term "land" does not include any property beyond the
I ines of the area specifically described or referred to in
Schedule A, nor any right, title, interest, estate or easement
in abutting streets, roads, avenues, alleys, lanes, ways or
waterways, but nothing herein shall modify or limit the
extent to which a right of access to and from the land is
insured by this policy.
(e) "mortgage": mortgage, deed of trust, trust deed, or
other security instrument.
(f) "public records": those records which by law
impart constructive notice of matters relating to said land.
2.
CONTINUATION OF INSURANCE AFTER CON-
VEYANCE 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 estate or interest in the land, or holds an
indebtedness secured by a purchase money mortgage given
by a purchaser from such insured, or so long as such insured
shall have liability by reason of covenants of warranty made
by such insured in any transfer or conveyance of such
estate or interest; provided, however, this policy shall not
continue in force in favor of any purchaser from such
insu red of either said estate or interest or the indebtedness
secured by a purchase money mortgage given to such
insured.
3.
DEFENSE AND PROSECUTION OF ACTIONS-
NOTICE OF CLAIM TO BE GIVEN BY AN INSURED
CLAIMANT
(a) The Company, at its own cost and without undue
delay, shall provide for the defense of an insured in all
litigation consisting of actions or proceedings commenced
against such insured, or a defense interposed against an
insured in an action to enforce a contract for a sale of its
estate or interest in said land, to the extent that such
litigation is founded upon an alleged defect, lien,
encumbrance, or other matter insured against by this
policy,
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 interest, as insured, is
rejected as unmarketable. 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
required; provided, however, that failure to notify shall in
no case prejudice the rights of any such insufed under this
pol icy unless the Company shall be prejudiced by such
failure and then only to the extent of such prejudice.
(c) The Company shall have the right at its own cost tc
institute and without undue delay prosecute any action or
proceeding or to do any other act which in its opinion may
be necessary or desirable to establish the title to the estate
or interest as insured, and the Company may take any
appropriate action under the terms of this policy, whether
or not it shall be liable thereunder, and shall not thereby
concede liability or waive any provision of this policy.
(d) Whenever the Company shall have brought any
action or interposed a defense as requ ired or perm itted by
the provisions of this policy, the Company may pursue any
such I itigation to final determination by a court of
competent jurisdiction and expressly reserves the right, in
its sole discretion, to appeal from any adverse judgment or
order.
(e) In all cases where this policy permits or requires
the Company to prosecute or provide for the defense of
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 requested
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 pros-
ecuting 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
I n add ition to the notices requ ired 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 until 30 days after such statement shall
have been furnished. Failure to furnish such statement of
loss or damage shall terminate any liability of the Company
under this policy as to such loss or damage.
5.
OPTIONS TO
CLAIMS
OTHERWISE
SETTLE
PAY
OR
The Company shall have the option to payor otherwise
settle for or in the name of an insu red claimant any claim
insured against or to terminate all liability and obligations
(b) The insured shall notify the Company promptly in of the Company hereunder by paying or tendering payment
writing (i) in case any action or proceeding is begun or of the amount of insurance under this policy together with
defense is interposed as set forth in (a) above, (ii) in case any costs, attorneys' fees and expenses incurred up to the
knowledge shall come to an insured hereunder of any claim time of such payment or tender of payment, by the insured
of ti~le _~,r..in::rest which is adverse 1 t~e title to the estate claimant and au.thori~l by the Company. f."
"I .. ( ntmued and concluded on last page of thiS policy)
~. ^ ALif~.dwNER'S POLICY - Amended 1017/70
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SCHEDULE A
Order No.:
87090052
Policy No,: 0 - 9902- 42353
Date of Policy:
October 01, 1987
Amount of Insurance: $
450,000.00
1. Name of Insured
CITY OF CLEARWATER
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:
CITY OF CLEARWATER
4. The land referred to in this policy is described as follows:
Lots 4 through 8, inclusive, CLEARWATER HEIGHTS, according to
the Plat thereof, as recorded in Plat Book 4, Page 99 of the
Public Records of Hillsborough County, Florida of which Pinellas
County was formerly a part.
0012
50M 4-86
Page 2
STEWART TITLE
GUARANTY COMPANY
Order No.
870900:)2
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ALirAOwIlll;R's.POLlCY - Amended 117/70
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SCHEDULE B
Policy No.: 0-9901-42353
delete
Easements, or claims of easements, not shown by the public records.
Encroachments, overlaps, boundary line disputes, or other matters which would be disclosed by
an accurate surveyor inspection of the premises.
4. ~l4>>l6X)6f ~
~~ ~X
This policy does not insure against loss or damage by reason of the following:
1.~~~
2.
3.
delete
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5. Community property, dower, curtesy, survivorship, or homestead rights, if any, of any spouse of
the insured.
6. Any titles or rights asserted by anyone incll}ding but not limited to persons, corporations,
governments or other entities, to tide lands, or lands comprising the shores or bottoms of
navigable rivers, lakes, bays, ocean or gulf, or lands beyond the line of the harbor or bulkhead
lines as established or changed by the United States Government or water rights, if any.
7. Taxes for the year 1987 and thereafter.
8. Subject to any lien for municipal improvements or services to
captioned land which has not been filed for record in the office
of the Clerk of the Circuit Court of Pinellas County, Florida,
and any and all outstanding assessments projected or to be
projected, if any.
9. Subject to water, sewer, or garbage removal service charges, if
any, due and payable to a municipal authority.
10. Subject to zoning and/or other governmental prohibition or
regulations affecting the use of the property.
11. Title to anv furniture, furnishings, fixtures, or chattels or
personal pr~perty located in, to or upon the land described in
Schedule "A" hereof.
12. Subject to unrecorded leases and/or options to purchase
affecting subject premises.
13. Subject to sidewalk encroachment over and across the Southerly boundary
line of property.
STEWART TITLE
2113 (Rev. 3/80)
Page 3
GUARANTY COMPANY
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IONDITIONS AND STIPULATIONS Continued I
(continued and concluded from reverse side of Policy ""ce)
6. DETERMINATION AND PAYMENT OF lOSS
(a) The liability of the Company under this policy
shall in no case exceed the least of:
(i) the actual loss of the insured claimant; or
(ii) the amount of insurance stated in Schedule A.
(b) The Company will pay, in addition to any loss
insured against by this policy, all costs imposed upon an
insured in litigation 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
authorization of the Company.
(c) When liability has been definitely fixed in accord-
ance with the conditions of this policy, the loss or damage
shall be payable within 30 days thereafter.
7. LIMITATION OF LIABILITY
No claim shall arise or be maintainable under this
policy (a) if the Company, after having received notice of
an alleged defect, lien or encumbrance insured against
hereunder, by litigation or otherwise, removes such defect,
lien or encumbrance or establishes the title, as insured,
within a reasonable time after receipt of such notice; (b) in
the event of litigation until there has been a final
determination by a court of competent jurisdiction, and
disposition of all appeals therefrom, adverse to the title, as
insured, as provided in paragraph 3 hereof; or (c) for
liability voluntarily assumed by an insured in settling any
claim or suit without prior written consent of the Com-
pany,
8. REDUCTION OF LIABILITY
All payments under this policy, except payments made
for costs, attorneys' fees and expenses, shall reduce the
amount of the insurance pro tanto. No payment shall be
made without producing this policy for endorsement of
such payment unless the policy be lost or destroyed, in
which case proof of such loss or destruction shall be
furnished to the satisfaction of the Company.
9. LIABILITY NONCUMULATIVE
It is expressly understood that the amount of insurance
under this policy shall be reduced by any amount the
Company may pay under any policy insuring either (a) a
mortgage shown or referred to in Schedule B hereof which
is a I ien on the estate or interest covered by th is 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 to apply to the payment of any such mortgages any
amount that otherwise would be payable hereunder to the
insured owner of the estate or interest covered by this
policy and the amount so paid shall be deemed a payment
under this policy to said insured owner.
10. APPORTIONMENT
If the land described in Schedule A consists of two or
more parcels which are not used as a single site, and a loss is
established affecting one or more of said parcels but not all,
the loss shall be computed and settled on a pro rata basis as
Valid Only If Schedules A and B are Attached,
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 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 SETTLE-
MENT
Whenever the Company shall have settled 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 entitled to all
rights and remedies which such insured claimant would
have had against any person or property in respect to such
claim had this policy not been issued, and if requested by
the 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 to use the name
of such insured claimant in any transaction or litigation
involving such rights or remedies. I f the payment does not
cover the loss of such insu red claimant, the Company shall
be subrogated 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 that 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 instrument together with all endorsements and
other instruments, 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 the status of the title to
the estate or interest covered hereby or any action asserting
such claim, shall be restricted to the provisions and
conditions and stipulations of this policy.
No amendment of or endorsement to this policy can be
made except by writing endorsed hereon or attached hereto
signed by either the President, a Vice President, the
Secretary, an Assistant Secretary, or validating officer or
authorized signatory of the Company,
13. NOTICES, WHERE SENT
All notices required to be given the Company and any
statement in writing required to be furnished the Company
shall be addressed to it at its main office, p, 0, Box 2029,
Houston, Texas 77252.
14. The premium specified in Schedule A is the entire.
charge for acceptance of risk. It includes charges for
title search and exam ination if same is customary or
required to be shown in the state in which the policy is
issued.
STEWART TITLE
GUARANTY COMPANY
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STEWART TITLE
GUARANTY COMPANY
ESTABLISHED 1896
INCORPORATED 1908
A NAME
RECOGNIZED NATIONALLY
FOR MORE THAN 75 YEARS
AS BEING
SYNONYMOUS WITH
SAFETY
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STEWART TITLE
GUARANTY COMPANY
p, O. Box 2029
Houston, Texas 77252
POLICY
OF
TITLE
INSURANCE
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