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THE SALVATION ARMY ,-., I . ~ - J . , ~orporat9 Warranty Deed liST # 99-040990 FES 9, 1999 4:09PM ~r . -- -~-- This Indenture, made this 5 th day of February A.D. 19 99 Between THE SALVATION ARMY "GECRC~~. cor-:; PINELLAS COUNTY FLA OFF.REC.SK 10400 PG 282 whose post office address is: 1424 NORTHEAST EXPRESSWA ATLANTA, GA 30329 \\51 (11 R"SCO~ DrN a corporation existing under the laws of the State of GEORGIA , Grantor and CITY OF CLEARWATER, FLORIDA, a Municipal Corporation nr~; ~ .... whose post office address is: P.O. BOX 474 8 CLEARWATER, FL 34618-4748 ['3 ___.. j~";T ______.._ Grantees' Tax Id # : Grantee, .._,~ fJ~~~~ ' :r..d:;c~_ ~_!ii."_ ...-.......-...: ~..l - .,~.~.. _.,.,:.,~:'...r~. :f'f"P Witnesseth, that the said Grantor, for and in consideration of the sum of ( Ten & NO/100 ) Dollars, to it in hand paid by the said Grantee, the receipt whereof is hereby acknowledged, has granted, bargained and sold to the said Grantee forever, the following described land, situate, lying and being in the County of Pinellas , State of Florida, to wit: See Schedule A attached hereto and by this reference made a part hereof. . ,.-:.C .;';J . ~....,' DocumentiHyT;,x Fd $ ~~, $~ _lntEmgith: ':~~" ~ .;;. Karleen F. Do B!r;!:er, C1':'rk, Pine!la" Got', '., ,cXJ By -- -r [kp"~ CI,,', Subject to covenants, restrictions and easements of record. Subject also to taxes for 1998 .and subsequent years. . Parcel Identification Number: 15-29-15-16830-001-0041 And the said Grantor does hereby fully warrant the title to said land, and will defend the same against the lawful claims of all persons whomsoever, In Witness Whereof, the said Grantor has caused this instrument to be executed in its name by its duly authorized officer and caused its corporate seal to be affIXed the day and year first above written, " '. ': '" THE SALVATION ARMY ~GECRCd\ COf""" '"1"'.' Signed and Sealed in Our Presence: By: / ; ~ - ,;:"" · ':':1~~;';~'~;;~'~:::; , f/1... (Corporate Seal) ..... N~.Jk The f~1<<Qi1!Kinstrument was acknow.ledged before me this ~ day of February I\WNO A, COOPER, VICE-PRESIDENT of THE SALVATION ARMY ~~~b. , 19 99 , by ~. rporation existing under the laws of the State of ~ She is personally known to me or has produced GEORGIA /,. (9 CWD-l 5/93 PREPARED BY: SHERRYL MANTELL RECORD & RETURN TO: Security First Title Partners 1700 9th Street North St. Petersburg, Florida 33704 File No: 981509P taty Public of pl1ft~alVas, Ltd. My Commission Expires: /1- 0/7'-// I'" ~,,::- ~~ ." I , L, , PINELLAS COUNTY FLA, OFF,REC,8K 10400 PG 283 Schedule A That part of Lots 3 and 4, Block A, COACHMAN HEIGHTS SUBDIVISION, according the plat thereof recorded in Plat Book 20, page 26, Public Records of Pinellas County, Florida, described as follows: Begin at the Northeast corner of Pierce Street and Prospect Avenue as the same appears on the map or plat marked Exhibit "B" and attached to that certain deed from H. Lane Coachman et al to the City of Clearwater, dated July 20, 1951 recorded in Deed Book 1341, page 283, Pinellas County Records and re-recorded July 10, 1953 as Instrument No. 86Z63A (said point of Beginning also being described as the Southwest corner of Lot 4, Block "A" Coachman Hieghts Subdivision less that part of said lot occupied by Pierce Street), and from the Point of Beginning thus established run East one hundred (100) feet along the South line of Pierce Street, thence run North fifty (50) feet, thence run West one hundred (100) feet to the East line of Prospect Avenue, thence run South fifty (50 feet along the Easts line of Prospect Avenue to Point of Beginning. ---&~---.JFB--- G2 G9 1m 1~~~'-'. 01 DEI-SAlVA ARtIy RECORD1N6 DOCSTAIIP - DR219 .w't 8L015892.JFB 02-09-1999 11 3010 - ??oo1157 DEI-SALVA ARlty RECORD FEES 9 11I1 TRUST FUND 10 TOTAl: CHARGE AIDJNT ~ ..1 .' J TOTAL: CHECK MT. TENDERED: CHANGE: File No: 981509P 09:59:25 $4.00 $.50 ------ $4.50 $4.50 , ~,t6.00' ..' $700.00 --- $706.00 $706.00 $.00 CONDITIONS 1, D-gFINITIONS (a) "Mortgage" means mortgage, deed of trust or other security instrument. (b) "Public Records" means title records that give constructive notice of matters affecting your title ac~ording to the state statutes where your land is located, 2. LATER DEFECTS Tne Exceptions in Schedule B - Section 2 may be amended to show any defects, liens or encumbrances that appear for the first time in the public records or are created or attach between the Commitment Date and the date on which all of the Requirements of Schedule B- Section 1 are met, We shall have no liability to you because of this amendment. 3, EXISTING DEFECTS If: any defects, liens or encumbrances existing at Commitment Date are not shown in Schedule B, we may amend Schedule B to show them. If we do amend Schedule B to show these defects, liens or encumbrances, we shall be liable to you according to Paragraph 4 below unless you knew of this information and did not tell us about it in writing, 4, LIMIT A TION OF OUR LIABILITY Our only obligation is to issue to you the Policy referred to in this Commitment, when you h4ve met its Requirements, If we have any liability to you for any loss you incur because of an error in this Commitment, our liability will be limited to your actual loss caused by Y0ur relying on this Commitment when you acted in good faith to: Comply with the Requirements shown in Schedule B - Section 1 or Eliminate, with our written consent, any Exceptions shown in Schedule B - Section 2. W, e shall not be liable for more than the Policy Amount shown in Schedule A of this Commitment and our liability is subject to the terms of the Policy form to be issued to you, 5, CLAIMS MUST BE BASED ON THIS COMMITMENT ~ny claim, whether or not based on negligence, which you may have against us concerning the title to the land must be based on this Commitment and is subject to its terms, ~ j oi J I FAl1C-201 (Rev. 9-78) "~irst- AJerican Title Insurance CJmpany SCHEDULE A Agent's FileNo,: 102488-4-8 Commitment No. FA,CC, DP/CC Date Issued: December 14, 1998 05:00 PM 05 :~M QjSlqq C(f\/ Effective Date: December 9, 1998 2. Policy or Policies to be issued: Amount of Policy: $ 100 , 000 . 00 (a) A. L. T, A. Owner's Policy (10-17-92) (With Florida Modifications) Proposed Insured: CITY OF CLEARWATER, FLORIDA, A MUNICIPAL CORPORATION (b) A, L. T. A. Loan Policy (10-17-92) (With Florida Modifications) Proposed Insured: $ 3. The estate or interest in the land described or referred to in this Commitment and covered herein is an estate or interest designated as follows: Fee Simple 4. Title to the estate or interest in the land described or referred to in this Commitment and covered herein (and designated as indicated in No. 3 above) is, at the effective date hereof, vested in: SALVATION ARMY 5. The land referred to in this Commitment is in the State of Florida and described as follows: County of Pinellas See Attached Commitment Schedule A Continued SECURITY FIRST TITLE PARTNERS 1700 9TH STREET NORTH SUITE C ST. PETERSBURG, FLORIDA 33704 (Insert above line name of Agent) IJ.BY~ &!Efis /Y)f1 Ai;! LId \J Authoriz Signatory FATlC-600 (Rev. 9-78) First A.Jerican Title Insurance CJmpany , SCHEDULE A (Continued) Agent's File No.: 102488-4-8 Commitment No, FA-CC- DP/CC Policy No.: That part of Lots 3 and 4, Block A, COACHMAN HEIGHTS SUBDIVISION, according to the plat thereof, recorded in Plat Book 20, Page(s) 26, Public Records of Pinellas County, Florida, described as follows: Begin at the Northeast corner of pierce Street and Prospect Avenue as the same appears on the map or plat markeO Exhibit "B" and attached to that certain deed from H. Lane Coachman et al to City of Clearwater, dated July 20, 1951 recorded in Deed Book 1341, page 283, Pinellas County Records and re-recorded July 10, 1953 as Instrument NO. 86Z63A (said point of beginning also being described as the Southwest corner of Lot 4, Block "A" Coachman Heights Subdivision, less that part of said lot occupied by pierce Street), and from the Point of Beginning thus established run East one hundred (100) feet along the South line of Pierce Street, thence run North fifty (SO) feet, thence run West one hundred (100) feet to the East line of Prospect Avenue, thence run South fifty (SO) feet along the East line of Prospect Avenue to Point of Beginning. FATIC-202 (Rev. 9-78) . Eirst Anlrican Title Insurance CJmpany SCHEDULE B-1 (Requirements) Agent's File No,: 102488-4-8 Commitment No. FA-CC- DP/CC The following are the re ' ments to be complied with: 1, Payment to r for th account of, the grantors or mortgagors of the full consideration for the estate or interest to be insur , 2, Pay t of all taxes, assessments, levied and assessed against subject premises, which are due and payable. 3, Sat' factory evidence shall be produced that all improvements and/or repairs or alterations thereto are completed; at contractor, subcontractor, labor and materialmen are paid in full, 4, / nstruments in insurable form which must be properly executed, delivered and duly filed for record: a. Submit a proper OWners/Seller's Affidavit satisfactory to insure against unrecorded mechanic's liens. b. Submit a proper survey certified to all parties involved in this transaction, including but not limited to, First American Title Insurance Company. c. Warranty Deed trom SALVATION ARMY to CITY OF CLEARWATER, FLORIDA, A MUNICIPAL CO ORATION conveying premises described under Schedule A. evidence must be furnished as to the proper incorporation Ar.my, a corporation, prior to the acquisition of erty described in Schedule A, together with proof as to the urrent status of said corporation. If the sale is in the regular qourse of the corporation's business, the requirements of Section 607.1201, F.S., must be met. If the sale is not in the regular course of the corporation's business, the requirements of Section 607.1202, F.S., must be met. The Company reserves the right to make such additional requirements as it may deem necessary. e If the propose~itransaction is the sale of all or substantially all of he assets of ?alvation Ar.my, a corporation, otherwise than in the r ular/and ~ual course of business, a certified copy of the board of directors and shareholder approval is to F.S. 607.1202. f. from appropriate governmental authorities, that City ssessment Liens, and water, sewer and trash ny, have been paid. .-/-' FAT - 203 (Rev. 10-92) 'ITirst Anlrican Title Insurance CJmpany SCHEDULE B-II (Exceptions) Agent's File No.: 102488-4-8 Commitment No. FA-CC- DP/CC 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. C{;'/l 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 not shown by the public records. 3. Easements, or claims of easement, not shown by the public records. ~ Encroachments, overlaps, boundary line disputes, or other matters which would be disclosed by an accurate survey ~' or inspection of the premises. Jty \...-Any lien, or right to a lien, for services, labor, or material heretofore or hereafter furnished, imposed by law and not r--LYV shown by the public records. -V f Any adverse claim to any portion of said land which has been created by artificial means or has accreted to any such portion so created and riparian rights, if any. 7. Taxes or special assessments which are not shown as existing liens by the public records. 8. The lien of the Taxes for the year 1999, which are not yet due and payable. 1998 Taxes: TAX EXEMPT Total Assessed Value $100,700.00 Taxing District: CWD-CLEARWATER Homestead Exemption filed for 1998? no Other Exemptions: none Parcel No. 15/29/15/16830/001/0041 9. Personal Property Taxes - NONE FOUND 10. Terms and provisions of all agreements and franchises pertaining to the cost, installation, operation, and maintenance of gas, water and/or sewer facilities. (OWner's Policy only) I I TAX PRORATION FILE#: 981509P PROPERTY: 900 PIERCE STREET, CLEARWATER, Florida 34618-4748 DATE: February 5, 1999 It is understood between the parties hereto that the exact amount of real property taxes applicable to the subject property for the current year is unknown. The tax proration herein was therefore based upon estimated taxes in the amount of $ 0.00 Should actual taxes for the current year vary from estimated taxes, each P9rty shall have the right to demand and receive from the other a re-proration of taxes and reimbursement for the prorated amount of variation thereof. Each party consents to such proration and agrees to look to the other party should a re-proration become necessary, and to save and hold harmless as to such proration the mortgagee, realtors and closing attorney and/or agent. _ THE SALV: ON Dl. GEORG!AcorO B : \ C RAYMOND A. CO ER, VI - ~ Seller CITY OF~~~ Purchaser Actual bill paid = $ TAX RE-PRORATION WORKSHEET J.f~)..( <i~.f Qr'n{r ~ 365 = $ daily tax rate $ daily tax rate x 0 number of days prorated actual tax proration. per closing statement = $ Actual tax proration LESS: Estimated tax proration Difference, actual vs. estimated taxes $ $ 0.00 $ If difference is a positive number, Seller owes Buyer the difference. If difference is a negative number, Buyer owes Seller the difference. Form No.: PTS-cNTYTAX I I AUTHORIZATION, DISCLOSURE AND ACKNOWLEDGMENT FORM FILE: 981509P LEGAL: Lot 3 & 4, Block A, COACHMAN HEIGHTS REVISED SUB. SELLER: RAYMOND A. COOPER of THE SALVATION ARMY BUYER: CITY OF CLEARWATER, FLORIDA a Municipal Corporation The undersigned approve and acknowledge receipt of a copy of the Settlement Statement (H U D-1) and authorize disbursement of funds as shown therein this February 5, 1999. We further acknowledge that we understand that the figures set forth on the settlement statement relating to mortgage payoffs, taxes, utilities, rental prorations, maintenance fees, special assessments, and/or any other charges are based upon the best information available and subject to human error; and in the event said figures differ from the actual figures, the Buyer and Seller agree to promptly pay all additional sums owing which are necessary to fully satisfy said outstanding balances. Security First Title Partners of Pinellas, Ltd. will be responsible for any penalties incurred due to any error on their part. It is further understood that Security First Title Partners of Pinellas, Ltd. cannot at this time ascertain if there will be personal property tax on the subject property or an amount on which to base the proration. Any proration necessary when the tax bill becomes available will be handled between the parties and Security First Title Partners of Pinellas, Ltd. will not be responsible. IS THE HOMESTEAD EXEMPTION FOR THE YEAR 199 IN EFFECT ON THE ABOVE' REFERENCED PROPERTY? YES NO We understand that Security First Title Partners of Pinellas, Ltd. is relYing on thiS statement to compute the applicable tax proration amounts between Buyers and Sellers and/or the appropriate tax amount for the Lender's escrow account. The undersigned acknowledges being fully apprised, at the time of listing and/or at the time of contract dated N/ A of the above referenced property, that there is a business relationship between N/A and N\/A, through a partial ownership interest in SECURITY FIRST TITLE PARTNERS OF PINELLAS, LTD. .. All utility bills, including but not limited to water, sewer, gas, garbage and electric are the responsibilities of the undersigned parties, not the closing agents. All matters regarding utility bills will be handled outside of closing. The undersigned parties will fully cooperate if adjustment for clerical errors on any or all closing documentation is necessary and will sign such additional documents as are necessary to correct such errors. I: ~'II coro ~~~ STREET ADDRESS STREET ADDRESS CITY, STATE & ZIP CITY, STATE & ZIP PHONE NUMBER PHONE NUMBER WORK PHONE NUMBER WORK PHONE NUMBER I I HOLD HARMLESS Date: February 5, 1999 Seller: THE SALVATION ARMY, a Georgia Corporation Buyer: CI'IY OF CLEARWATER, FLORIDA a Municipal Corporation Property: Lot 3 & 4, Block A, COACHMAN HEIGHTS REVISED SUB. 900 PIERCE STREET CLEARWATER, Florida 34618-4748 L L TERMITE WAIVER: We, the undersigned buyers and sellers of the above referenced transaction, do hereby certify that we have agreed to waive the termite inspection f:.~d property. INITIALS j ~ SURVEY WAIVER: We, the undersigned buyers and sellers of the above referenced transaction, do hereby certify that we have agreed to waive having said property su.~ INITIALS', . ~~ RELEASE OF CONTINGENCES: We, the undersigned buyers and sellers of the above referenced transaction, do hereby release and accept that all contingencies have been met per the contract for purchase and sale, dated INITIALS RADON DISCLOSURE: Radon is a naturally occuring 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.. INITIALS: ./ L BUYERS ONLY HAZARD and/or FLOOD INSURANCE: We, the undersigned buyers ofthe above referenced transaction, do hereby accept full responsibility ror obtaining proper iDsorance(ragt! ror said property. INITIALS i..,. ~ . "AS IS": We, the undersigned buyers of the above referenced transaction do hereby certify that we have agreed to purchase said property in "as is" condition. INITIALS SELLERS ONLY PAYOFF REIMBURSEMENT AGREEMENT: We, the undersigned sellers of the above referenced transaction do hereby understand that amount(s) witheld from our proceeds to payoff existing mortgage(s) have been obtained from the holder(s) of said mortgage(s). Every effort has been made to obtain accurate information, however should there exist any discrepancy in the payoff amount(s) collected which results in additional sums necessary to pay such loan in full, we recognize that we are fully responsible for payment of same. We hereby certify to The Security First Title Partners of Pinellas, Ltd. that we will reimburse said sums within 48 hours of notification. INITIALS WE, the undersigned further agree to hold harmless The Security First Title Partners of Pinellas, their agents and underwriters as to matters disclosed herein. BuYer.s: ~ DATE:~ . $ 2~~ ~~ Sellers: DATE: Th~ Salvc:tlcn t.,:"':':'~f. A Geo~,\!r; Co . '\..... I AFFIDAVIT OF NO LIENS I . ,or' - STATE OF kc.i ~ COUNTY OF OLM.-o..QJ::J Before me, the. undersigned authority, on this day personally appeared: RAYMONO A. COOPER '. of THE SALVATION ARMY t~ Q;:CR~~A. cor.; who, upon being by me fIrst duly sworn, deposes and says: The affiant(s) is/are the owners of the following described real property See Schedule A attached hereto and by this reference made a part hereof. The affiant(s) is/are in full and exclusive constructive or actual possession of the above described premises and have no knowledge of any claim or assertion of title to those premises, other than None. There have been no improvements or repairs made upon said property within the last three months which have not been paid. There are no delinquent taxes or outstanding assessments or pending assessments of any kind against the property for street paving, sewer, lighting or water services in respect to said property. There are no unpaid bills or claims for labor or services performed or material furnished or delivered to said property. The affiant(s) is/are not involved in any court proceedings affecting the above described real property, or in any proceedings in which a money judgement might be entered against them, and that the affiant(s} owe to the United States no money for overdue unpaid taxes. The affiant(s) have not and will not execute any instrument or do any act whatsoever which would or might in any way affect the title to the foregoing property to the detriment of the purchasers ~U~Jlii*"aUXXxx '*U.XK~~~Ji~~UU~~~XXXXXXXXXX All of the statements and representations set forth above are made in order to induce CITY OF CLEARWATER, FLORIDA a Municipal Corporation to purchase or complete the purchase of the foregoing property, to induce the aforesaid lender, if any, to. make a mortgage loan on said property, and to induce the title insurance company to issue title insurance in relation to said property. AFFIANT(S) KNOW THAT IF ANY OF THESE STATEMENTS AND REPRESENTATIONS ARE FALSE THEN AFFIANT(S) IS/ARE OBTAINING MONEY UNDER FALSE PRETENSES. THE SALVATION A (Seal) (Seal) By: RAYMOND A. C (Seal) (Seal) Sworn t8 ~d subscribed before me this 5th day of February, 1999 by RAYMONO A. CO ?} wh is p~rsonally known to m~ or who has produced as identification. o tary Public State of ~lorida at Large C/~'I~ My Commission Expires: .~. .. "'. ' I I Schedule A That part of Lots 3 and 4, Block A, COACHMAN HEIGHTS SUBDIVISION, according the plat thereof recorded in Plat Book 20, page 26, Public Records of Pinellas County, Florida, described as follows: Begin at the Northeast corner of Pierce Street and Prospect Avenue as the same appears on the map or plat marked Exhibit "B" and attached to that certain deed from H. Lane Coachman et al to the City of Clearwater, dated July 20, 1951 recorded in Deed Book 1341, page 283, Pinellas County Records and re-recorded July 10, 1953 as Instrument No. 86Z63A (said point of Beginning also being described as the Southwest corner of Lot 4, Block "A" Coachman Hieghts Subdivision less that part of said lot occupied by Pierce Street), and from the Point of Beginning thus established run East one hundred (100) feet along the South line of Pierce Street, thence run North fifty (50) feet, thence run West one hundred (100) feet to the East line of Prospect Avenue, thence run South fifty (50 feet along the Easts line of Prospect Avenue to Point of Beginning. File No: 981509P ,.. A. U.S. DEPARTMENT OF.HOUSING AND URIAN DEVELOPMENT SElTLEMENT STATEME T B. PE OF LOAN 1. 0 FHA 2. 0 FMHA 3. 0 CONV. UNINS. 4. 0 VA 5. 0 CONV. INS. Security First Title Partners of Pinellas, Ltd. 1700 9th Street North St. Petersburg, Florida 33704 6. FILE NUMBER: 981509P 8. MORTGAGE INS. CASE NO.: 7. LOAN NUMBER: 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 '(p.o.c.)' were paid outside the closing; they are shown here for informational purposes and are not included in the totals. E. NAME OF SELLER: ADDRESS OF SELLER: THE SALVATION ARMY, a Georgia Corporation 1424 NORTHEAST EXPRESSWAY, ATlANTA, GA 30329 G. PROPERTY LOCATION: I. SETTLEMENT DATE: J. SUMMARY OF BORROWER'S TRANSACTION K. SUMMARY OF SELLER'S TRANSACTION i9.~~:u.ijq$$.)~.qijNtmp'Q.ii::f6PijpijQ.ii.fiit::::t:::::\::::tttt::::::\:::t:::tm\::\\:\:::t.jmf~ijQ$$]ij~Qijtft-PU~:m$etwga~:\ 120. GROSS AMOUNT DUE FROM BORROWER: ~ 100,006.00 420. GROSS AMOUNT DUE TO SELLER: 100,000.00 1,485.00 303. CASH . ( !XI FROM) (D TO) BORROWER: ~ 100,006.00 603. CASH (IXI TO) (0 FROM) SELLER: ~ 98,515.00 Form No.: PTS-HUD1 ~ ,r HUD-1 (3-86) RESPA, HB 4305.2 OMB No 2502-0265 ~ PAGE 1 L . '4 SETTLEMENT . 700. TOTAL SALES/BROKER'S COMMISSION: CHARGES . @ %= PAID FROM BORROWER'S FUNDS AT SETrLEMENT ... ........ PAID FROM SELLER'S FUNDS AT ... SETrLEMENT. % 1400. TOTAL SETrLEMENT CHARGES (Enter on line 103, Section J - and - line 502, Section K) ~ 6.00 1,485.00 I have carefully reviewed the HUD-1 Settlement Statement and to the best 01 my knowledge and belief, It Is a true and accurate statement of all receipts and dlsbursementa made on my account or by me In this transaction. I funher cenify that I have received a copy of HUD-1 Settlement Statement. The underslgnecl do hereby acknowledge that In order to otlset the accounllng costs and service charges associated with the maintenance of the escrow bank account for Security Rrst TIlle Pal1ners of Plnellas, Ud~ all deposited fUnds are earning Interest which will accrue to the account 01 Security Rrst Tille Pal1ners of Pine lias, Ud. Borrowers Sellers THE SALV I j Settlement Agent SHERRYL MANTELL Date Rle No. Februarv 5, 1999 981509P WARNING: It Is a crime to knowingly make lalse statements to the United States on this or any other similar form. Penallles upon conviction can include a fine or Imprisonment. For details see: Title 18 U.S. Code Section 1001 and Section 1010. Form No.: PTS-HUD2 ALTA Owner's Policy (10-17-92) (With Florida Modifications) The following matters by reason of: 1. 2. 3. 4. EXCLUSIONS FROM COVERAGE expressly excluded from the coverage of this policy and the Company will not pay loss or damage. costs. attorneys' fees or expenses which arise 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. If the 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 re- gard to the matter or matters requiring such proof of loss or damage. In addition, the insured claimant may reasonably be required to submit to 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 desig- nated 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 repre- sentative of the Company, the insured claimant shall grant its permission, in writing, for any authorized representative of the Company to examine, inspect and copy all records, books, ledgers, checks, correspon- dence 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 pursu- ant 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 claimanttosubmitforexamination under oath, produce other reasonably requested information or grant permission to secure reasonably necessary information from third parties as required in this para- graph shall terminate any liability olthe Company under 2. CONTINUATION OF INSURANCE AFTER this poliCY as to that claim. CQNVEYANCE OF TITLE. . The coverage of this P91icy shall ~ontinue in force .' . OPTIONS TO PAY OR OTHERWISE SETTLE as of Date of Policy :in favor of an insured only so long CLAIMS: TERMINATION OF'L1ABILlTY. as the insured retains an estate or interest in the land, In case of a claim under this policy, the Company I (a) Any law, ordi8ance or governmental regulation (including but not limltd 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; (i1i) a separatipn 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 9r 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 3 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. Rights of eminent ~omain 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. Defects, liens, encJmbrances, adverse claims or other matters (a) created, suffe'red, assumed or agreed to by the insured claimant: (b) not known t~ 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 insurea 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) 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 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 (i) the transaction creating the estate or interest insured by this policy being deemed a II audulent conveyance or fraudulent transfer; or (ii) the transaction creating the estate or Interest IIlsured by this poliCY being deemed a preferential transfer except where the preferential transfer results from the failure: (a) to timely record the instrument of transfer; or (b) of such recordation to impart notice to a purchaser for value or a Judgment or lien creditor CONDITIONS AND STIPULATIONS 1. DEFINITION OF TERMS. Thefollowing 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 interestof the named insured byopera- tion of law as distinguished from purchase including, but not limited to, heirs, distributees, devisees, survi- vors, personal representatives, next of kin, or corporate or fiduciary successors. (b) "insured claifTIant": an insured claiming loss or damage. (c) "knowledge" or "known": actual knowledge, not constructive 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 A, 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 right, title, interest, estate or easement in abutting streets, roads, avenues, alleys, lanes, ways or waterways, but nothing herein shallllj10dify 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 statutes at Date of Policy for the purpose of imparting constructi~e notice of matters relating to real property to purchasers for value and without knowl- edge. With respecttolSection 1 (a)(iv) olthe 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 pur- chase by virtue of a contractual condition requiring the delivery of marketable title. 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 title 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 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 insur- ing a mortgage to which exception is taken in Schedule B orto which the insured has agreed, assumed, ortaken 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 without 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 satisfac- tion 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 Comoanv's Rioht 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' en- titled to all rights and remedies which the insured lant would have had against any person or prop- n respect to the claim had this policy not been I' ed. If requested by the Company, the insured claimant shall transfer to the Company aii rights and FATlC-S21 · First Aerican Title Insurance I.mpany SCHEDULE A Agent's File No.: 102488 -4 - 8 Policy No. Date of Policy: February 9, 1999 04:09:00 PM FA-35-303638 JH Amount of Insurance $ 100,000.00 1. Name of Insured: CITY OF CLEARWATER, FLORIDA, a Municipal Corporation 2. The estate or interest in the hind which is covered by this policy is: Fee Simple 3. Title to the estate or interest in the land is vested in: CITY OF CLEARWATER, FLORIDA, a Municipal Corporation 4. The land referred to in this policy is described as follows: See Attached Schedule A Continued SECURITY FIRST TITLE PARTNERS 1700 9TH STREET NORTH SUITE C ST. PETERSBURG, FLORIDA 33704 (Insert above line name of Agent) By: JYr(j!rrrJ mJJ1Z 1-7: t/ '. Authorized Signatory ~ FATlC-600 (Rev. 9-78) First At.erican Title Insurance ~mpany SCHEDULE A (Continued) Agent's File No.: 102488 -4 - 8 Commitment No. FA-CC- DP/CC Policy No.: FA-35-303638 JH That part of Lots 3 and 4, Block A, COACHMAN HEIGHTS SUBDIVISION, according to the plat thereof, recorded in Plat Book 20, Page(s) 26, Public Records of Pinellas County, Florida, described as follows: Begin at the Northeast corner of Pierce Street and Prospect Avenue as the same appears on the map or plat marked Exhibit "B" and attached to that certain deed from H. Lane Coachman et al to City of Clearwater, dated July 20, 1951 recorded in Deed Book 1341, page 283, Pinellas County Records and re-recorded July 10, 1953 as Instrument NO. 86Z63A (said point of beginning also being described as the Southwest corner of Lot 4, Block "A" Coachman Heights Subdivision, less that part of said lot occupied by Pierce Street), and from the Point of Beginning thus established run East one hundred (100) feet along the South line of Pierce Street, thence run North fifty (50) feet, thence run West one hundred (100) feet to the East line of Prospect Avenue, thence run South fifty (50) feet along the East line of Prospect Avenue to Point of Beginning. FATIC-522 First Aterican Title insurance .mpany SCHEDULE B Agent's File No.: 102488-4-8 Policy No. FA-35-303638 JH This policy does not insure against loss or damage (and the Company will not pay costs, attorneys' fees or expenses) which arise by reason of: 1. 2. 3. Rights or claims of parties in possession not shown by the public records. 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 survey or inspection of the premises. 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. Any adverse claim to any portion of said land which has been created by artificial means or has accreted to any such portion so created and riparian rights, if any. Taxes or special assessments which are not shown as existing liens by the public records. NOTE: Exceptions numbered 1, 4, 5 and 6 above are hereby deleted. Special Exceptions: 7. The lien of all taxes for the year 1999 , and all subsequent years, which are not yet due and payable. 4. 5. 6. 8. Terms and provisions of all agreements and franchises pertaining to the cost, installation, operation, and maintenance of gas, water and/or sewer facilities. ...,;,... or holds an indebtl1dness s~cured by a purchase money _hall have the followi41g addi.tioMI options: mortggge given by a purchaser from'the insured, or (a) To Payor Tender Pavment of the Amount of only so long as the insured shall have liability by reason._ Insurance. of covenants of warranty made by the insured in any To payor tender payment of the amount of insur- transfer or conveyance of the estate or interest This ance underthis policy together with any costs, attorneys' policy shall not continue in force in favor of any pur- fees and expenses incurred by the insured claimant, chaser from the insured of either (i) an estate or interest which were authorized by the Company, up to the time in the land, or (ii) an indebtedness secured by a pur- of payment or tender of payment and which the Com- chase money mortgage given to the insured. pany 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 de- fend, prosecute, or continue any litigation, and the policy shall be surrendered to the Company for cancel- lation. (b) To Pavor Otherwise Settle With Parties Other than the Insured or With the Insured Claimant (i) to payor otherwise settle with other par- ties for or in the name of an insured claimant any claim insured against under this policy, together with any costs, attorneys' fees and expenses incurred by the insured claimant which were authorized by the Com- pany 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 pay- ments required to be made, shall terminate, including any liability or obligation to defend, prosecute or con- tinue any litigation. 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 setforth 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) iftitle to the estate or interest, as insured, is rejected as unmarketable. If prompt notice shall not be given tu 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 extent of the prejudice. 4. DEFENSE AND PROSECUTION OF ACTIONS: DUTY OF INSURED CLAIMANT TO COOPERATE. (a) Upon written request by the insured and sub- ject 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 right, at its own cost, to institute and prosecute any action or proceed- ing 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 ofthis 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 para- graph, 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 re- quires 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 defend- ing the action or proceeding, or effecting settlement, and (ii) in any other lawful act which inthe 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 obli- gations to the insured under the policy shall terminate, including any liability or obligation to defend, pros- ecute, or continue any litigation, with regard to the matter or matters reqUiring such cooperation. 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 claimant who has suffered 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 Sched- ule 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, attor- neys' fees and expenses incurred in accordance with Section 4 of the Conditions 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 ofthe 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. 9. LIMITATION OF LIABILITY. (a) If the Company establishes the title, or re- moves the alleged defect, lien or encumbrance, or cures the lack of a right of access to orfrom the land, or cures the claim of unmarketability of title, all as insured, in a reasonably diligent manner by any method, including litigation and the completion of any appeals therefrom, it shall have fully pertormed 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 litigation, including litiga- tion by the Company or with the Company's consent, _dies against any person or property necessary in to pertect this right of subrogation. The insured ant shall permitthe 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 litigation 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, butthe 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 ofthe Company's right of subrogation. (b) The ComDanv's Riohts Aaainst 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 indemnities, guaranties, other policies of insurance or bonds, not- withstanding any terms or conditions contained in those instruments which provide for subrogation rights by reason of this policy. 14. ARBITRATION. Unless prohibited by applicable law, arbitration pursuant to the Title Insurance Arbitration Rules of the American Arbitration Association may be de- manded if agreed to by both the Company and the insured. Arbitrable matters may include, but are not limited to. any controversy or claim between the Company and the insured arising out of or relating to this policy, and service of the Company in connection with its issuance or the breach of a policy provision or other obligation. Arbitration pursuant to 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 of Policy shall be binding upon the parties. The award may include attorneys' fees only if the laws of the state in which the land is located permit a court to award attorneys' lees to a prevailing party. Judgment upon the award rendered by the Arbitrator(s) may be entered in any court having jurisdiction thereof. The law of the situs of the land shall apply to an arbitration under the Title Insurance Arbitration Rules. A copy of the Rules may be obtained from the Company upon request. 15. LIABILITY LIMITED TO THIS POLICY: POLICY ENTIRE CONTRACT. (a) This policy together with all endorsements, if any, attached hereto by the Company is the entire policy and contract between the insured and the Company. In interpreting any provision of this policy, this policy shall be construed as a whole. (b) 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 by any action asserting such claim, shall be restricted to this policy (c) No amendment of or endorsement to this policy can be made except by a 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 Com- pany 16. SEVERABILITY. In the event any provision of the policy is held invalid or unenforceable under applicable law, the policy shall be deemed not to include that provision and all other provisions shall remain in full force and effect. 17. NOTICES, WHERE SENT. All notices required to be given the Company and any statement in writing required to be furnished the Company shall include the number of this policy and shall be addressed to the Company, Attention: Clilims Department, 114 East Fifth Street, Santa Ana, California 92701.