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SCHOOL BOARD OF PINELLAS COUNTY L ....), PrAA~~y:& RETUIThT TO: , SOMERS TITLE COMPANY 1290 COURT STREET CLEARWATER, FL 33756 (727) 441-1088'ph. rn7) 449-1359 fax incidental to the issuance of a title insurance policy. File Number: 04120026c Parcel ill #: 04-29-16-00000-220-0200 Grantee(s) SS#: KEN BURKE, CLERK OF COURT PINELLAS COUNTY FLORIDA INST# 2005073647 02/2812005 at 09:28 AM OFF REC BK: 14141 PG: 1284-1285 DocType:DEED RECORDING: $18.50 {o t ~)- SPECIAL WARRANTY DEED TIns SPECIAL WARRANTY DEED, dated February 24, 2005 by SCHOOL BOARD OF PINELLAS COUNTY, FLORIDA whose post office address is: 11111 S. Belcher Road, Largo, FL33773 hereinafter called the GRANTOR, to City of Clearwater, Florida, a Municipal Corporation whose post office address is: P. O. Box 4748, Clearwater, FL 33758-4748 hereinafter called the GRANTEE: (Wherever used herein the terms "GRANTOR" and "GRANTEE" include all the parties to this instrument and the heirs, legal representatives and assigns of individuals, and the successors and assigns of corporations,) WITNESSETH: That the GRANTOR, for and in consideration ofthe sum of$10.00 and other valuable considerations, receipt whereof is hereby acknowledged, hereby grants, bargains, sells, aliens, remises, releases, conveys andconfrrms unto the GRANTEE, all that certain land situate in PineIlas County, Florida, viz: A portion of Parcel No. 04-29-16-00000-220-0200 A tract of land lying and being in Section 5, Township 29 South, Range 16 East, PineIlas County, Florida, being more . particularly described as follows: Commence at the Northeast corner of Section 5, Township 29 South, Range 16 East, Pinellas County, Florida,and run thence South 00005'34" West, along the :E:asterly boundary of said Section 5, a distance of 669.94 feet to the Point of Beginning; thence continue along said Easterly boundary, South 00005'34" West, a distance of 85.00 feet; thence departing said Easterly boundary, North 89046'39" West, a distance of 135.00 feet to a point of intersection with a line lying and being 135.00 feet West of and parallel to said Easterly boundary of Section 5; thence North 00005'34" East, along said parallel line, a distance of 85.00 feet to a point of intersection with the Southerly boundary of a parcel of land as described in O.R. Book 9159, Page 1898, Public Records of Pinellas County, Florida; thence departing said parallel line, South 89054'26" East, along said Southerly boundary, a distance of 135.00 feet to a point of intersection with the aforesaid Easterly boundary of Section 5 and the Point of Beginning. I ot?J -;a , SUBJECT TO covenants, conditions, restrictions, reservations, limitations, easements and agreements of record, if any; taxes and assessments for the year 2005 and subsequent years; and to all applicable zoning ordinances and/or restrictions and prohibitions imposed by governmental authorities, if any, . TOGETHER with all the tenements, her~ditaments and appurtenances thereto belonging or in anywise appertaining. TO HAVE AND TO HOLD, the same in fee simple forever. AND THE GRANTOR hereby covenants with said GRANTEE that it is lawfully seized of said land in fee simple; that it has good, right and lawful authority to sell and convey said land; that it hereby fully warrants the title to said land and will defend the same al!3imt the ];!wful claims of all nersons claiming by, through or under the said GRANTOR. IN WITNESS WHEREOF, The Grantor has caused these presents to be executed in its name by its undersigned duly authorized officers this 24 tho day of February, 2005 Signed, sealed and delivered in t presence of: SCHOOL BOARD OF PINELLAS CO UN , LORIDA BY: vlliJ fg /I $1 LLM. ~ A: .. r~ame) / M mANNE SCHAFFER / I STATE OF FLORIDA .COUNTY OF PINELLAS The foregoing instrument was acknowledged before me this 24th. day of February 2005, by John W. Bowen, School Board Attorney, whom, being duly authorized, executed the foregoing instrument on behalf of said School Board, and acknowledged the execution thereof to be his ~ for th~:r~::nd purposes herei~:e~:::isslon expires ~ ~e:~ I MARIANNE SCHAFFER MARIANNE SCHAFFER * w" * Notary Public, State Of Florida l)pe/Print Name \OF....""'QT ~C~~lssion Expires 12/14105 ommlsslon No. # D0068427 ()lo~d on Feb<<4, 2005 @ 08:33) A. US Department of Housing and Urban Development SETTLEMENT STATEMENT OMB No. 2502-0265 1. [] FHA 2. [ ] FmHA 3. [] Cony. Unins. 6. File Number: 4. VA 5. Cony. Ins. 04I20026c 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 'Pac were paid outside the closing: they are shown here for information D. NAME AND ADDRESS OF BORROWER: Ci of Clearwater , E. NAME AND ADDRESS OF SELLER: SCHOOL BOARD OF PINELLAS COUNTY, FLORIDA 11111 S. Belcher Road Lar 0, FL 33773 F. NAME AND ADDRESS OF LENDER: G. PROPERTY LOCATION: SOMERS TITLE COMPANY 727-441-1088 Contact: I. SETTLEMENT DATE: 2/24/05 PLACE OF SETTLEMENT: SOMERS TITLE COMPANY 1290 COURT STREET CLEARWATER, FL 33756 DISBURSEMENT DATE: 2/24/05 H. SETTLEMENT AGENT: J. SUMMARY OF BORROWER S TRANSACTION 100 GROSS AMOUNT DUE FROM BORROWER' K. SUMMARY OF SELLER S TRANSACTION 400. GROSS AMOUNT DUE TO SELLER : 101. Contract sales price 75,000.00 401. Contract sales price 75,000.00 102. Personal Property 402. Personal Prooertv 103. Settlement charges to borrower (line 1400) 787.75 403. 104. 404. 105. 405. Adiustments for items paid by Seller in adyance Adiustments for items paid by Seller in adyance 106. City/town taxes 406. City/town taxes 107. County taxes 407. County taxes 108. Assessments 408. Assessments 109. 409. 110. 410. Ill. 411. 112. 412. 120. Gross Amount Due From Borrower 75.787.75 420. Gross Amount Due Seller 75.000.00 200. AMOUNTS PAID BY OR IN BEHALF OF BORROWER: 500. REDUCTIONS IN AMOUNT DUE TO SELLER : 201. Deposit or earnest money 501. Excess deposit (see instructions) 202. Principal amount of new loan(s) 502. Settlement charlles to seller (line 1400) 203. Existinllloan(s) taken subiect to 503. Existing loan(s) taken subiect to 204. 504. Payoff of first mortgage loan 205. 505. Payoff of second mortgage loan 206. 506. 207. Transfer of Interest 75,000.00 507. Transfer ofInterest 75 000.00 208. 508. 209. 509. Adjustments for items unpaid by SeHer in advance Adjustments for items unpaid by SeHer in advance 210. City/town taxes 510. City/town taxes 211. County taxes 511. County taxes 212. Assessments 512. Assessments 213. 513. 214. 514. 215. 515. 216. 516. 217. 517. 218. 518. 219. 519. 220. Total Paid Bv/For Borrower 75.000.00 520. Total Reduction Amount Due Seller 75.000.00 75787.75 75 000.00 787.75 75 000.00 75,000.00 0.00 SUBSTITUTION FORM 1099 SELLER STATEMENT: The information contained in Blocks E,G,H and I on line 401 (or if 401 is asterisked, line 403 and 404) is important tax information and is being fumished to the Intemal Revenue Service. If you are required to file a return, a negligence penalty or other sanction will be imposed on you if this item is required to be reported and the IRS determines that it has not been reported. SELLER, you are required by law to provide the settlement agent with your correct taxpayer identification number. If you do not provide the settlement agent with your correct taxpayer identification number, you may be subject to civil or criminal penalties imposed by law. Under penalties of perjury, I certify that the number shown on this statement is my correct taxpayer identification number. - (~on Feb 112, 2005 @ 16:32) US Department of Housing and Urban Development OMB No. 2502-0265 L. SETTLEMENT CHARGES '. ". ~ 760, Total Sales~roker's Commission based on price Paid from Paid from Borrower's Seller's 701, Listinl!: Realtor Commission Funds at Funds at 702. Selling Realtor Commission Settlement Settlement 703. Commission paid at Settlement 704. 800. ITEMS PAYABLE IN CONNECTION WITH LOAN 801. Loan Origination Fee 802. Loan Discount 803. Appraisal Fee 804. Credit Report 805. Lender's Inspection Fee 806. Mortgage Application Fee 807. 808. 809. 810. 900. ITEMS REOUlRED BY LENDER TO BE PAID IN ADVANCE 901. Interest from 902. Mortgage Insurance Premium for 903. Hazard Insurance Premium for 904. 905. 1000. RESERVES DEPOSITED WITH LENDER 1001. Hazard insurance 1002. Mortl!:al!:einsurance 1003. City property taxes 1004. County property taxes 1005. Annual assessments 1006. 1007. 1008. Al!:l!:rel!:ate Accounting Adiustment 1100. TITLE CHARGES 1101. Settlement or closing fee To: STC 50.00 1102. Abstract or title search To: STC / A. Gatliff 100.00 1103. Title examination To: STC 100.00 1104. Title insurance binder 1105. Document preparation 1106. Attorney's Fees 1107. FL Risk Rate (Includes above item numbers: ) 1108. Title Insurance To: SOMERS TITLE COMPANY 431.25 (Includes above item numbers: ) 1109. Lender's coverage @ 1110. Owner's coverage75,000.00 @ 1111. 1112. 1113. 1200. GOVERNMENT RECORDING AND TRANSFER CHARGES 1201. Recording fees: Deed $0.00 Mortgage $0.00 Releases $0.00 To: Clerk of the Court 18.50 1202. City/county tax/stamps:Exempt 1203. State tax/stamps:Exempt 1204. Record Ingress/Egress Easement To: Clerk of the Court 44.00 1205. Record Utility Easement To: Clerk ofthe Court 44.00 1300. ADDITIONAL SETTLEMENT CHARGES 1301. Survey 1302. Pest inspection 1303. 1304. 1305. 11400. Total Settlement Chal1!:es (enter on lines 103. Section J and S02. Section K) I 787.751 0.00 I 1 how ~refu"Y _ tho HUD.l .....- _, "'" 10"''''' of my k_ ,,'" "'''~lruo ,.. _......._ "'" ~I", ood d",,"~_~" 00 my account or ~hiS tra~actio~~rtify that LWi-ve received a copy of HUD-1 Settlement Sent. ~ ~ BORROWE ~ ~..", SELLE (S): ~ '\. K /L ~ "/ / -"" . __ v ~.V'" City"'m"elearwater '-- SCHO~ARD OF PINELLAS COUNTY, FLORIDA ~'m~".. whloh I how p"""",,, "'lruo ,.. _.... ~I of "'" _. ''''''' ",,,,,, a wi" ~... fu"'" 10" d1",""'" I, '"",,0000 with thl, statem n .I A ... J 4 2DDS ~/7/~ FE8 TJtoINr~IMPANY Date N~1'i1 '"" """ ",,- b..", 00 """ "" ... ,..,. Any .....~"'" wi" " """"" -,,'" b".. ood ...... A" "'" .," (wo"'. ...... """"" ~b1, ,," malntena fees) have been paid or will be paid upon receipt of final bills. WARNI : It is a crime to knowingly make false statements to the United States on this or any other similar form, Penalties upon conviction can include a fine or imprisonment. For details, ee: Title 18 U.S. Code Section 1001 and Section 1010. AMERICAN LAND TITLE ASSOCIATION OWNER'S POLICY 10-17-92 (Fforida Modified) FL7881-51-04120026C-2005.7110609-70031129 OWNER'S POLICY OF TITLE INSURANCE ISSUED BY TICOR TITlE INSURANCE COMPANY OF FLORIDA SUBJECT TO THE EXCLUSIONS FROM COVERAGE, THE EXCEPTIONS FROM COVERAGE CONTAINED IN SCHEDULE BAND THE CONDITIONS AND STIPULATIONS, TICOR TITLE INSURANCE COMPANY OF FLORIDA, a Florida corporation, herein called the Company, insures, as of Date of Policy shown in Schedule A, against loss or damage, not exceeding the Amount of Insurance stated in Schedule A, sustained or incurred by the insured by reason of: 1. Title to the estate or interest described in Schedule A being vested other than as stated therein; 2. Any defect in or lien or encumbrance on the title; 3. Unmarketability of the title; 4. Lack of a right of access to and from the land. The Company will also pay the costs, attorneys' fees and expenses incurred in defense of the title, as insured, but only to the extent provided in the Conditions and Stipulations. IN WITNESS WHEREOF, TICOR TITLE INSURANCE COMPANY OF FLORIDA has caused this policy to be signed and sealed as of the Date of Policy shown in Schedule A, the policy to become valid when countersigned by an authorized signatory. Issued By: FL7881 ~ / Somers Title Company 1/ ~I 1290 Court Street 04120026c Clearwater , FL 33756 Phone: 727-441-1088 : Wax: 727-449-1359 TIC OR TITLE INSURANCE COMPANY OF FLORIDA (&g,.t/ /I.lp~ 1- President ~~ flL- Attest: Secretary OP-9 (11/04) ALTAOwner's Policy (10-17-92) (Florida Modified) EXCLUSIONS FROM COVERAGE The following matters are expressly excluded from the coverage of this policy and the Company will not pay loss or damage, costs, attorneys' fees or expenses which arise by reason of: 1. (a) Any law, ordinance or governmental regulation (including but no\: limited to building and zoning laws, ordinances, or regulations) restricting, reg~!ating, proh~biti~g or relatin~ to (i) the occupancy, use, or enjoyment of the land; (Ii) the character, dimensions or Ioeation of any improvement now or hereafter erected on the land;(III) a separation In ownership or a change in the dimensions or area of the land or any parcel of which the land is or was a part or (Iv) environmental protection, or the effect of any violation of these laws, ordinances or governmental regulations, except to the extent that a notice of the enforcement thereof or a notice of a defect, lien or encumbrance resulting from a violation or alleged violation affecting the land has been recorded in the public records at Date of Policy. (b) Any governmental police power not excluded by (a) above, except to the extent that a notice o(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 Poli~. ' 2. Rights of eminent domain unless notice of the exercise thereof has been recorded in the public records at Date of Policy, but not excluding from coverage any taking which has occurred prior to Date of Policy which would be binding on the rights of a purchaser for value without knowledge. 3. Defects, liens, encumbrances, adverse claims or other matters: (a) created, suffered, assumed or agreed to by the insured claimant; (b) not known to the Company, not recorded in the public records at Date of Policy, but known to the insured claimant and not disclosed in writing to the Company by the insured claimant prior to the date the insured claimant became an insured under this policy; (c) resulting in no loss or damage to the insured claimant (d) attaching or created subsequent to Date of Policy; or (e) 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. Any claim, which arises out of the transaction vesting in the Insured the estate or interest insured by this policy, by reason of the operation of federal bankruptcy, State insolvency, or similar creditors' rights laws, that is based on: (a) the transaction creating the estate or interest insured by this policy being deemed a fraudulent conveyance or fraudulent transfer; or (b) the transaction creating the estate or interest insured by this policy being deemed a preferential transfer except where the preferential transfer results from the failure: (i) to timely record the instrument of transfer; or (Ii) of such recordation to impart notice to a purchaser for value or a judgment or lien creditor. CONDITIONS AND STIPULATIONS 1. DEFINITION OF TERMS The following terms when used in this policy mean: (a) "insured": the insured named in Schedule A, and, subject to any rights or defenses the Company would have had against the named insured, those who succeed to the interest of the named insured by operation of law as distinguished from purchase including, but not limited to, heirs, distributees, devisees, survivors, personal representatives, next of kin, or corporate or fiduciary successors. (b) "insured claimant": an insured claiming loss or damage. (c) "knowledge" or "known": actual knowledge, not constructive knowledge or notice which may be imputed to an insured by reason ofthe public records as defined in this policy or any other records which impart constructive notice of matters affecting the land. (d) "land": the land described or referred to in Schedule [AI, and improvements affixed thereto which by law constitute real property. The term "land" does not include any property beyond the lines ofthe area described or referred to in Schedule [AI, 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": records established under state statutes at Date of Policy for the purpose of imparting constructive notice of matters relating to real property to purchasers for value and without knowledge. With respect to Section 1 (a){iv) of the Exclusions From Coverage, "public records" shall also include environmental protection liens filed in the records of the clerk of the United States district court for the district in which the land is located. (g) "unmarketability ofthe title": an alleged or apparent matter affecting the title to the land, not excluded or excepted from coverage, which would entitle a purchaser of the estate or interest described in Schedule A to be released from the obligation to purchase by virtue of a contractual condition requiring the delivery of marketable title. 2. CONTINUATION OF INSURANCE AFTER CONVEYANCE OF TITLE The coverage of this policy shall continue in force as of Date of Policy in favor of an insured only so long as the insured retains an estate or interest In the land, or holds an indebtedness secured by a purchase money mortgage given by a purchaser from the insured, or only so long as the insured shall have liability by reason of covenants of warranty made by the insured in any transfer or conveyance of the estate or interest. This policy shall not continue in force in favor of any purchaser from the insured of either (i) an estate or interest in the land, or (ii) an indebtedness secured by a purchase money mortgage given to the insured. 3. NOTICE OF CLAIM TO BE GIVEN BY INSURED CLAIMANT The insured shall notify the Company promptly in writing (i) in case of any litigations as set forth in Section 4(a) below, (ii) in case knowledge shall come to an insured hereunder of any claim of title or interest which is adverse to the title to the estate or interest, as insured, and which might cause loss or damage for which the Company may be liable by virtue of this policy, or (Iii) if title to the estate or interest, as insured, is rejected as unmarketable. If prompt notice shall not be given to the Company, then as to the insured all liability of the Company shall terminate with regard to the matter or matters for which prompt notice is required; provided, however, that failure to notify the Company shall in no case prejudice the rights of any insured under this policy unless the Company shall be prejudiced by the failure and then only to the extent of the prejudice. 4. DEFENSE AND PROSECUTION OF ACTIONS; DUTY OF INSURED CLAIMANT TO COOPERATE (a) Upon written request by the insured and subject to the options contained in Section 6 ofthese 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 expanses 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 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 ensured, or to prevent or reduce loss or damage to the insured. The Company may take any appropriate action under the terms of this policy, whether or not It shall be liable hereunder, and shall not thereby concede liability or waive any provision of this policy. If the Company shall exercise its rights under this paragraph, it shall do so diligently. (c) Whenever the Company shall have brought an action or interposed a defense as required or permitted by the provisions of this policy, the Company may pursue any litigation to final determination by a court of competent jurisdiction and expressly reserves the right, in its sole discretion, to appeal from any adverse judgment or order. (d) In all cases where this policy permits or requires the Company to prosecute or provide for the defense of any action or proceeding, the insured shall secure to the Company the right to so prosecute or provide defense in the action or proceeding, and all appeals therein, and permit the Company to use, at its option, the name ofthe insured for this purpose. Whenever requested by the Company, the insured, at the Company's expense, shall give the Company all reasonable aid (i) in any action or proceeding, securing evidence, obtaining witnesses, prosecuting or defending the action or proceeding, or effecting settlement, and (ii) in any other lawful act which in the opinion of the Company may be necessary or desirable to establish the title to the estate or interest as insured. If the Company is prejudiced by the failure of the insured to furnish the required cooperation, the Company's obligations to the insured under the policy shall terminate, including any liability or obligation to defend, prosecute, or continue any litigation, with regard to the matter or matters requiring such cooperation. 5. PROOF OF LOSS OR DAMAGE In addition to and after the notices required under Section 3 of thej;e 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 ofthe loss or damage. Ifthe Company is prejudiced by the failure of the insured claimant to provide the required proof of loss or damage, the Company's obligations to the insured under the policy shall terminate, including any liability or obligation to defend, prosecute, or continue any litigation, with regard to the matter or matters requiring such proof 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 designated by any authorized representative of the Company, all records, books, ledgers checks, correspondence and memoranda, whether bearing a date before or after Date of Policy, which reasonably pertain to the loss or damage. Further, if requested by any authorized representative of the Company, the insured claimant shall grant its permission, in writing, for any authorized representative of the Company to examine, inspect and copy all records, books, ledgers, checks, correspondence and memoranda in the custody or control of a third party, which reasonably pertain to the loss or damage. All information designated as confidential by the insured claimant provided to the Company pursuant to this Section shall not be disclosed to others unless, in the reasonable judgment of the Company, it is necessary in the administration of the claim. Failure of the insured claimant to submit for examination under oath, produce other reasonably requested information or grant permission to secure reasonably necessary information from third parties as required in this paragraph shall terminate any liability of the Company under this policy as to that claim. 6. OPTIONS TO PAY OR OTHERWISE SETTLE CLAIMS; TERMINATION OF LIABILITY In case of a claim under this policy, the Company shall have the following additional options: (a) To Pay or Tender Pavment oftheAmount of Insurance.To payor tender payment of the amount of Insurance 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 or tender of payment and which the Company is obligated to pay. Upon the exercise by the Company of this option, all liability and obligations to the insured under this policy, other than to make the payment required, shall terminate, including any liability or obligation to defend, prosecute, or continue any litigation, and the policy shall be surrendered to the Company for cancellation. (b) To Pavor Otherwise Settle With Parties Other than the Insured or With the Insured Claimant. (i) to payor otherwise settle with other parties 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 Company up to the time of payment and which the Company is obligated to pay; or (ii) to payor otherwise settle with the insured claimant the loss or damage provided for under this policy, together with any costs, attomeys' fees and expenses incurred by the insured claimant which were authorized by the Company up to the time of payment and which the Company is obligated to pay. Upon the exercise by the Company of either of the options provided for in paragraphs (b) (i) or (ii), the Company's obligations to the insured under this policy for the claimed loss or damage, other than the payments required to be made, shall terminate, including any liability or obligation to defend, prosecute or continue any litigation. 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 Schedule A; or, CONDITIONS AND STIPULATIONS - CONTINUED (ii) the difference between the value of the insured estate or interest as insured and the value ofthe 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, attorneys' fees and . expenses incurreq in accordance with Section 4 of these Conditions and Stipulations. 8. APPORTIONMENT If the land described in Schedule (AI consists of two or more parcels which are not used as a single site, and a loss is established affecting one or more of the parcels but not all, the loss shall be computed and settled on a pro rata basis as if the amount of insurance under this policy was divided pro rata as to the value on Date of Policy of each separate parcel to the whole, exclusive of any improvements made subsequent to Date of Policy, unless a liability or value has otherwise been agreed upon as to each parcel by the Company and the insured at the time of the issuance of this policy and shown by an express statement or by an endorsement attached to this policy. 9. LIMITATION OF LIABILTY (a) If the Company establishes the title, or removes the alleged defect, lien or encumbrance, or cures the lack of a right of access to or from the land, or cures the claim of unmarketability of title, all as insured, in a reasonably diligent manner by any method, including litigation and the completion of any appeals there from, it shall have fully performed its obligations with respect to that matter and shall not be liable for any loss or damage caused thereby. (b) In the event of any litigation, including litigation by the Company or with the Company's consent, the Company shall have no liability for loss or damage until there has been a final determination by a court of competent jurisdiction, and disposition of all appeals there from, 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, attomeys' 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 insuring a mortgage to which exception is taken in Schedule B or to which the insured has agreed, assumed, or taken subject, or which is hereafter executed by an insured and which is a charge or lien on the estate or interest described or referred to in Schedule A, and the amount so paid shall be deemed a payment under this policy to the insured owner. 12. PAYMENT OF LOSS (a) No payment shall be made 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 satisfaction of the Company. (b) When liability and the extent of loss or damage has been definitely fixed in accordance with these Conditions and Stipulations, the loss or damage shall be payable within 30 days thereafter. 13. SUBROGATION UPON PAYMENT OR SETTLEMENT (a) The Com pan v's Right of Subroaation.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 entitled to all rights and remedies which the insured claimant would have had against any person or property in respect to the claim had this policy not been issued. If requested by the Company, the insured claimant shall transfer to the Company all rights and remedies against any person or property necessary in order to perfect this right of subrogation. The insured claimant shall penn it the Company to sue, compromise or settle in the name of the insured claimant and to use the name ofthe 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. but the Company, in that event, shall be required to pay only that part of any losses insured against by this policy which shall exceed the amount, if any, lost to CONDITIONS AND STIPULATIONS - CONTINUED the Company by reason of the impairment by the insured claimant of the Company's right of subrogation. (b) The Companv's RiahtsAgainst Non-insured Obliaors.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, notwithstanding any terms or conditions contained in those instruments which provide for subrogation rights by reason of this policy. 14. ARBITRATION (This paragraph was modified for Florida Policies.) Unless prohibited by applicable law, arbitration pursuant to the Title Insurance Arbitration Rules of the American Arbitration Association may be demanded if agreed to by both Company and the insured. Arbitrable matters may include, but are not limited to, any controversy or claim between Company and the insured arising out of or relating to this policy, and service of 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 attomeys' fees to a prevailing party. Judgment upon the award rendered by the Arbitrator(s) maybe entered in any court having jurisdiction thereof. The law of the situs of the land shall apply to an arbitration under the litle 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 ofthis 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, Vice President, the Secretary, an Assistant Secretary, or validating officer or authorized signatory of the Company. 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 at 493 State Road 436, Casselberry Florida 32707. Telephone: (407}260-8050. C1 )>.... cnlO cnw P!cn5 mils: m""im ::orno ::0::0." ':<0." .,,)>- roC1 w....m NW elm -..J -I 0 -I ~ h; z m ZO:::O enllen C ""C ~ 0 Z C (') (') m -< )> 3 O~ :E cr -::::Jill "CD::::J 0'-, ::::l. l/I III c."'U::::J Illoc. s::g=! 0'< = c...... CD 3io)> CD I l/I c......l/I ---oJ 0 I 0 (0 _. NIll - o' ::::J Z ~-I o:U n "TI~ 0 "TIZ r-n:o Om :un-l - 0- gs:-I ~~ Z ~ OWNER'S POLICY Schedule A State: County: Pinellas File Number 04120026c Policy Number 7110609-70031129 Effective Date February 28, 2005 Effective Time 9:28 AM Amount of Policy $75,000.00 Commitment #: CM-1-1708-1781 Simultaneous #: Reinsurance #: 1. Name of Insured: City of Clearwater, Florida, a Municipal Corporation 2. The estate or interest in the land described herein and which is covered by this policy is: Fee Simple 3. The estate or interest referred to herein is at Date of Policy vested in the insured. 4. The land referred to herein is described as follows: Parcel No. 04-29-16-00000-220-0200 A tract of land lying and being in Section 5, Township 29 South, Range 16 East, Pinellas County, Florida, being more particularly described as follows: Commence at the Northeast corner of Section 5, Township 29 South, Range 16 East, Pinellas County, Florida, and run thence South 00005'34" West, along the Easterly boundary of said Section 5, a distance of 669.94 feet to the Point of Beginning; thence continue along said Easterly boundary, South 00005'34" West, a distance of 85.00 feet; thence departing said Easterly boundary, North 89046'39" West, a distance of 135.00 feet to a point of intersection with a line lying and being 135.00 feet West of and parallel to said Easterly boundary of Section 5; thence North 00005'34" East, along said parallel line, a distance of 85.00 feet to a point of intersection with the Southerly boundary of a parcel of land as described in O.R. Book 9159, Page 1898, Public Records of Pinellas County, Florida; thence departing said parallel line, South 89054'26" East, along said Southerly boundary, a distance of 135.00 feet to a point of intersection with the aforesaid Easterly boundary of Section 5 and the Point of Beginning. TOGETHER WITH 20 feet wide Access Easement described as follows: A parcel of land lying and being in Section 5, Township 29 South, Range 16 East, Pinellas County, Florida; said parcel being more particularly described as follows: Commence at the Northeast corner of Section 5, Township 29 South, Range 16 East, Pinellas County, Flori ,and run thence South 00005'34" West, along the Easterly bound aid Se i n 5, a distance of 754.94 feet to the Point of Beginning of the Issued By: 1875* 04120026c SOMERS TITLE COMPANY 1290 COURT STREET CLEARWATER, FL 33756 Note: This Policy consists of insert pages labeled Schedule A and B. This policy is of no force and effect unless all pages are included along with any added pages incorporated by reference. OWNER'S POLICY herein described parcel; thence continue. along said Easterly boundary South 00005'34" West, a distance of 584.91 feet to the Southeast corner of the Northeast 1/4 of the Northeast 1/4 of said Section 5; thence departing said Easterly boundary North 89046'39" West, along the Southerly boundary of said Northeast 1/4 of the Northeast 1/4, a distance of 20.00 feet to the Point of Intersection with a line lYing and being 20.00 feet West of and parallel with said Easterly boundary of Section 5; thence departing said Southerly boundary North 00005'34" East, along said parallel line, a distance of 584.87 feet; thence departing said parallel line, South 89054'26" East, a distance of 20.00 feet to a point of Intersection with the aforesaid Easterly boundary of Section 5 to the Point of Beginning. TOGETHER WITH 20 feet wide Utility Easement described as follows: A parcel of land lying and being in Section 4, Township 29 South, Range 16 East, Pinellas County, Florida, said parcel being more particularly described as follows: Commence at the Northwest corner of Section 4, Township 29 South, Range 16 East, Pinellas County, Florida, and run thence South 00005'34" West, along the Westerly boundary of said Section 4, a distance of 32.95 feet to a Point of Intersection with the Southerly Right-of-Way line of Union Street (County Road No. 194); thence departing the said Westerly boundary, South 84036'47" East, along said Southerly Right-of-Way line, a distance of 21.39 feet to a Point of Intersection with a line lying and being 21.30 feet East of and parallel with said Westerly boundary of Section 4, said Point of Intersection also being the Point of Beginning of the herein described parcel: thence continue South 84036'47" East, along said Southerly Right-of-Way line, a distance of 20.09 feet to a point of Intersection with a line lying and being 41.30 feet East of and parallel with said Westerly boundary of Section 4; thence departing said Southerly Right-of-Way line, South 00005'34" West, along said parallel line, a distance of 666.72 feet; thence departing said parellel line, North 89054'26" West, a distance of 41.30 feet to a Point of Intersection with the aforesaid Westerly boundary Section 4; thence North 00005'34" East, along said Westerly boundary, a distance of 20.00 feet; thence departing said Westerly boundary South 89054'26" East, a distance of 21.30 feet to a Point of Intersection with the aforesaid line lying and being 21.30 feet East of and parallel with the Westerly boundary of Section 4; thence North 00005'34" East, along said parallel line, a distance of 648.58 feet to the Point of Beginning. Policy #: 711 0609-70031129 2 File #: 04120026c Note: This Policy consists of insert pages labeled Schedule A and B. This policy is of no force and effect unless all pages are included along with any added pages incorporated by reference. r OWNER'S POLICY Schedule B This policy does not insure against loss or damage by reason ~f the following exceptions: 1. Rights or claims of parties in possession not shown by the Public Records. 2. Encroachments, overlaps, boundary lines disputes, and other matters which would be disclosed by an accurate survey and inspection of the premises. 3. Easements or claims of easements not shown by the Public Records. 4. Any lien, or right to a lien, for services, labor, or material heretofore or hereafter furnished, imposed by law and not shown by the public records. 5. Community property, dower, survivorship, or homestead rights, if any, of any spouse of the insured. 6. Any adverse ownership clain by the State of Florida by right of sovereignty to any portion of the lands insured hereunder, including submerged, filled, and artificially exposed lands and lands accreted to such lands. 7. Taxes and assessments for the year 2005, and thereafter and/or special assessments, if any, not recorded in the public records. **The following items, as listed above, are hereby deleted: 1 and 4 ** 8. Subject to Florida Power Distribution Easement, recorded 11/4/97 in O.R. Book 9894, Page 197, Public Records of Pinellas County, Florida. 9. Subject to Perpetual Public Roadway Easement in favor of PINELLAS COUNTY, recorded 3/17/97 in O.R. Book 9640, Page 1481, Public Records of Pinellas County, Florida. 10. Subject to easement in favor of FLORIDA POWER CORPORATION recorded in O.R. Book 241, Page 357, Public Records of Pinellas County, Florida. 11. Subject to Reservation recorded in Utilities Easement recorded in O.R. Book 14141, page 1286 of the Public Records of Pinellas County, Florida. 12. Subject to Reservations recorded in Ingress and Egress Easement recorded in O.R. Book 14141, page 1291 of the Public Records of Pinellas County, Florida. 13. 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. 14. Any lien provided by Chapter 159 of Florida Statutes in favor of any city, town, village or port authority for unpaid service charges for service by any water system, sewer system or Policy #: 7110609-70031129 3 File #: 04120026c Note: This Policy consists of insert pages labeled Schedule A and B. This policy is of no force and effect unless all pages are included along with any added pages incorporated by reference. . . 'I . OWNER'S POLICY gas system servicing the land described herein. Policy #: 7110609-70031129 4 File #: 04120026c Note: This Policy consists of insert pages labeled Schedule A and B. This policy is of no force and effect unless all pages are included along with any added pages incorporated by reference.