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HomeMy WebLinkAbout1991 Sorensen, John91 -4856 WARRANTY DEED FROM INDIVIDUAL TO CORPORATION RAMCO FORM 34 This warranty Deed Made the B t �— day of John A. Sorensen and Grace A. Sorensen, his wife hereinafter called the grantor, to City of Sebastian, a Municipal Corporation a corporation existing under the laws of the State of Florida address at P.O. Box 780127, Sebastian, Florida 32958 hereinafter called the grantee: RECORD VERIFIED JEFFREY K. BARTON CLERK CIRCUIT COURT INDIAN RIVEM CO., FLA i A. D. 19 91 by with its permanent postof f ice (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) _WltneSSeth: That the grantor, for and in consideration of the sum of $ 10.00 and other valuable considerations, receipt whereof is hereby acknowledged, hereby grants, bargains, sells, aliens, re- mises, releases, conveys and confirms unto the grantee, all that certain land situate in Indian River County, Florida, viz: Lot 3, Block 208, SEBASTIAN HIGHLANDS, Unit 10, a Subdivision according to the Plat thereof, as recorded in Plat Book 6, at Page 37, of the Public Records of Indian River County, Florida. DOCUMENTARY STAMPS $ S/ S` ao JEFFREY K. BARTON, CLERK( INDIAN RIVER COUNTY Together with all the tenements, hereditaments and appurtenances thereto belonging or in any- wise appertaining. To have and to told, the same in fee simple forever. And the grantor hereby covenants with said grantee that the grantor is lawfully seized of said land in fee simple; that the grantor has good right and lawful authority to sell and convey said land; that the grantor hereby fully warrants the title to said land and will defend the same against the lawful claims of all persons whomsoever; and that said land is free of all encumbrances, except taxes accruing subsequent to December 31, 1990. Subject to zoning, restrictions, prohibitions and other requirements imposed by governmental authority; restrictions and matters appeari on the plat or otherwise common to the subdivision; public utility easements of record. In fitness thereof, the said grantor has hereunto set his hand and seal the day and year first above written. Signed, sealed and delivered in our presence: - �- - - -- -�--------------.--- --------- ------------------------------------------------------ W n ss `-- - ...... ------ -------------- - - - - -- ---- - - - - -- STATE OF MOSOM Texas COUNTY OF �. -. I HEREBY CERTIFY that on this day, before me, an officer duly authorized in the State aforesaid and in the County aforesaid to take acknowledgments, personally appeared John A. Sorensen and Grace A. Sorensen, his wife to . me known to be the person g described in and who executed the foregoing instrument and they acknowledged before me that theyexecuted the same. WITNESS my- hand and official seal in the County and State last aforesaid this day of A. D. 19 91. e U c 3 to bl� RET URN �� Cl__ . _ vL ,Tlizs.Irutrumetrt d re are b 3 _ P P y' Kimberly Brown My Commission Expires on: Address Executive Title of Sebastian, Inc. 1623 N. U.S. Highway #1, Suite A -4 Sebastian, Florida 32958 ., EXECUTIVE TITLE OF SEBASTIAN, INC. 1623 N. U.S. 1, Suite A4 - P.O. BOX 781960 - SEBASTIAN, FL 32978 -1960 (407) 589 -0034 June 20, 1991 77cr. City of Sebastian, a Municipal Corporation P.O. Box 780127 Sebastian, FL 32958 RE: Lot 3, Block 208, Unit 10, Sebastian Highlands Dear City of Sebastian: Enclosed please find your First American Owner's Title Insurance Policy #10220, insuring you as to the above referenced property, in the amount of $7,500.00. Also we have enclosed your original Warranty Deed which has been recorded in Official Record Book 898, at Page 2796, of the Public Records of Indian River County, Florida. Thank you for allowing us to handle this transaction for you, and if we can be of.any further assistance now or in the future, please contact our office and we will be happy to assist you. If you would like to increase the value of your property or are. planning _ nn - selling your property, please bring An this policy and we will gladly give you a discount on future transactions. Sincerely, Step anie M.Snyder sms enclosure FATIC -520 Policy No. FA -R- 10220 ISSUED BY _ s Title 6 ,IIpany SUBJECT TO THE EXCLUSIONS FROM COVERAGE, THE EXCEPTIONS FROM COVERAGE CONTAINED IN SCHEDULE B AND THE CONDITIONS AND STIPULATIONS, FIRST AMERICAN TITLE INSURANCE COMPANY, a California 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, First American Title Insurance Company has caused its corporate seal to be hereunto affixed and these presents to be signed in facsimile under authority of its By -Laws. First American Title Insurance Company *f� BY PRESIDENT ATTEST M14AI4 � G. � ,�., SECRETARY ALTA Owner's Policy (4 -6 -90) (With Florida Modifications in hold italics) y {r� �� AMEN EXCLUSIONS FROM COVERAGE The following matters are expressly excluded from the coverage of this policy and the Company will not pay loss or damage, costs, attorneys' fees or expenses which arise by reason of: 1. (a) Any law, ordinance or governmental regulation (including but not limited to building and zoning laws, ordinances, or regulations) restricting, regulating, prohibiting or relating to (i) the occupancy, use, or enjoyment of the land; (ii) the character, dimensions or location of any improvement now or hereafter erected on the land; (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, exceptto the extent that a notice of the enforcement thereof or a notice of a defect, lien or encumbrance resulting from a violation or alleged violation affecting the land has been recorded in the public records at Date of Policy. (b) Any governmental police power not excluded by (a) above, except to the extent that a notice of the exercise thereof or a notice of a defect, lien or encumbrance resulting from a violation or alleged violation affecting the land has been recorded in the public records at Date of Policy. 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 opera- tion of law as distinguished from purchase including, but not limited to, heirs, distributees, devisees, survi- vors, personal representatives, nextof kin, orcorporate 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 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 shall modify or limit the extentto 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 knowl- edge. With respectto 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 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. 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, 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 knowl- edge. 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. CONDITIONS AND STIPULATIONS 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 submitto examination underoath 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 byanyauthorized representative of the Company, all records, books, ledgers, checks, correspondence and memoranda, whether bearing adate before orafter 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 Companyto 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 claimantto 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 para- graph 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 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 mortgageto 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 apayment 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 Companv's Right of Subrogation. Wheneverthe 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 claimant would have had against any person or prop- erty 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 �FATIC -521 First American Title Insurance Company SCHEDULE A Agent's File No.: 91 -4856 Policy No. FA -R- 10220 Date of Policy: June 7, 1991 @ 11: 22 A. M. Amount of Insurance: $ 7,500. 00 1. Name of Insured: City of Sebastian, a Municipal Corporation 2. The estate or interest in the land which is covered by this policy is: Fee Simple 3. Title to the estate or interest in the land is vested in: City of Sebastian, a Municipal Corporation 4. The land referred to in this policy is described as follows: Lot 3, Block 208, SEBASTIAN HIGHLANDS, Unit 10, a Subdivision according to the Plat thereof, as recorded in Plat Book 6, at Page 37, of the Public Records of Indian River County, Florida. EXECUTIVE TITLE OF SEBASTIAN, INC. (Insert above line name of Agent) By: J Authorized Signatory Betty L. Witherby — FATIC -522 First American Title Insurance Company SCHEDULE B Agent's File No.: 91 -4856 Policy No. FA -R- 10220 EXCEPTIONS FROM COVERAGE 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. Rights or claims of parties in possession not shown by the public records. 2. Easements, or claims of easements, not shown by the public records. 3. Encroachments, overlaps, boundary line disputes, or other matters which would be disclosed by an accurate survey or inspection of the premises. 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. 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. 6. Taxes or special assessments which are not shown as existing liens by the public records. Special Exceptions: 7. The lien of all taxes for the year 19 91 . and all subsequent years. Said taxes are not yet due and payable. 8. Restrictions as recorded in Official Record Book 99, Page 366, of the Public Records of Indian River County, Florida. 9. Easements for Public Utilities and Drainage over and across the rear 10 feet and the sides 6 feet, as recorded in Plat Book 6, Page 37, of the Public Records of Indian River County, Florida. 10. Any and all charges for public utilities furnished by a county or municipality which may be or may become a lien upon the land insured hereby under any provision of the Florida Statutes; and /or any county or municipal improvement liens which are not recorded among the Official Record Books of the county in which subject land is located. or holds an indebtedness secured by 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 pur- chaserfrom the insured of either (i) an estate or interest in the land, or (ii) an indebtedness secured by a pur- chase money mortgage given to the insured. 3. NOTICE OF CLAIM TO BE GIVEN BY INSURED CLAIMANT. The insured shall notify the Company promptly in writing (i) in case of any litigation as set forth in Section 4(a) below, (ii) in case knowledge shall come to an insured hereunder of any claim of title or interest which is adverse to the title to the estate or interest, as insured, and which might cause loss or damage for which the Company may be liable by virtue of this policy, or (iii) if title to the estate or 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 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 anythird 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 bythis 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 forand will not paythefees 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 undertheterms 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 byacourt of competentjurisdiction 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) inanyotherlawful actwhich 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 underthe 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. shall have the following additional options: (a) To Pay or Tender Payment of the Amount of Insurance. To pay or tender payment of the amount of insur- ance underthis 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 Com- 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 Pay or Otherwise Settle With Parties Other than the Insured or With the Insured Claimant. (i) to pay or 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 pay or 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 underthis 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. 7. DETERMINATION, EXTENT OF LIABILITY AND COINSURANCE. This policy is a contract of indemnity againstactual 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 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 tothe whole, exclusive of any improvements made subsequentto 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 orencumbrance, orcures 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, itshall 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 litiga- tion by the Company or with the Company's consent, remedies against any person or property necessary in order to perfect this right of subrogation. The insured claimant shall permit the Company to sue, compromise or settle in the name of the insured claimant and to use the name of the insured claimant in any transaction or 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 thatevent, shall be required to pay only that part of any losses insured against by this policy which shall exceed the amount, if any, lostto the Company by reason of the impairment by the insured claimantof the Company's right of subrogation. (b) The Company's Rights Against Non - insured Obligors. The Company's right of subrogation against non- insured obligors shall exist and shall include, without limitation, the rights of the insured to 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 policypro vision 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' fees to a prevailing party. Judgment upon the award rendered by the Arbitrators) 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 orattached hereto signed by eitherthe President, aVice 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: Claims Department, 114 East Fifth Street, Santa Ana, California 92701. FATIC 520 EXECUTIVE TITLE OF SEBASTIAN,> INC. 1623 North U.S. Sebastian, Florida 32958. 305- 589 -0034 BUYER'S CLOSING STATEMENT CASE #: 49 -4856 Date: June 15, 1991 Seller: John A. Sorensen and Grace A. Sorensen , his wife Buyer: City of Sebastian a Municipal Corporation Property: Lot 3, Block 208, Sebastian Highlands, Unit 10 Rosebush Terrace Sebastian, Florida 32958 Credits Charges Sales Price 7,500.00 Deposit 100.00 County Taxes 01/01 to 06/15 46.73 Closing Costs: Recording Deed 10.50 Sub - Totals 146.73 7,510.50 Balance Due From Buyer at Closing 7,363.77 Totals 7,510.50 7,510.50 This Closing Statement is accepted and approved by the undersigned buyers who authorize the closing agent to disburse their funds in accordance herewith. City of Sebastian BY: .E. Conye Mayor ATTEST: Z( L� ?.a hryn . -O'Halloran, City Clerk FATIC -200 (8-89) Commitment 1 4 0 8 5 No. FA -CC- k� P a"9 '"83 11M N 11 a g�z'`y9 ai 9 ca ISSUED BY FIRST AMERICAN TITLE INSURANCE COMPANY, a corporation of California, herein called the Company, for a valuable consideration, hereby commits to issue its policy or policies of title insurance as identified in Schedule A, in favor of the proposed Insured named in Schedule A, as owner or mortgagee of the estate or interest covered hereby in the land described or referred to in Schedule A, upon payment of the premiums and charges therefor; all subject to the provisions of Schedules A and B and to the Conditions and Stipulations hereof. This Commitment shall be effective only when the identity of the proposed Insured and the amount of the policy or policies committed for have been inserted in Schedule A hereof by the Company, either at the time of the issuance of this Commitment or by subsequent endorsement. This Commitment is preliminary to the issuance of such policy or policies of title insurance and all liability and obligations hereunder shall cease and terminate six (6) months after the Effective Date hereof or when the policy or policies committed for shall issue, whichever first occurs, provided that the failure to issue such policy or policies is not the fault of the Company. This Commitment shall not be valid or binding until Schedule A has been countersigned by either a duly authorized agent or representative of the Company and Schedule B -I and B -II have been attached hereto. IN WITNESS WHEREOF, the Company has caused this Commitment to be signed and sealed, to become valid when countersigned by an authorized officer or agent of the Company, all in accord- ance with its By -Laws. This Commitment is effective as of the date shown in Schedule A as "Effective Date ". First American Title Insurance Company BY PRESIDENT r ATTEST SECRETARY `�' s r• X111 N! N NI Nr IN! N'a ) NN 3 \N�' A.L.T.A. COMMITMENT —1966 EATIC -201 (Rev. 9.78) First American Title Insurance Company SCHEDULE A Agent's File Nc.: 49 -4856 Commitment No. FA -CC- 144085 Date Issued: May 30, 1991 05:00 PM M. Date Effective: May 30, 1991 05:00 PM M. 2. Policy or Policies to be issued: (a) A. L. T. A. Owner's Policy Amount of Policy: $ 7,500.00 Proposed Insured: City of Sebastian, a Municipal Corporation (b) A. L. T. A. Loan Policy $ 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: John A. Sorensen and Grace A. Sorensen, his wife 5. The land referred to in this Commitment is in the State of Florida County of Indian River and described as follows: Lot 3, Block 208, SEBASTIAN HIGHLANDS, Unit 10, a Subdivision according to the Plat thereof, as recorded in Plat Book 6, at Page 37, of the Public Records of Indian River County, Florida. >;�c€cutiv�Titl� of coY. i TI. (Insert above line name of Agent) By: uthorized Signatory FATIC -202 (Rev. 9.78) First American Title Insurance Company SCHEDULE B -1 (Requirements) Agent's 49 -4856 144085 File No.: Commitment No. FA -CC= The following are the requirements to be complied with: 1. Payment to, or for the account of, the grantors or mortgagors of the full consideration for the estate or interest to be insured. 2. Payment of all taxes, assessments, levied and assessed against subject premises, which are due and payable. 3. Satisfactory evidence shall be produced that all improvements and /or repairs or alterations thereto are completed; that contractor, subcontractor, labor and materialmen are all paid in full. 4. Instruments in insurable form which must be properly executed, delivered and duly filed for record: (a) General Warranty Deed from John A. Sorensen and Grace A. Sorensen, his wife to City of Sebastian, conveying title to subject property, as described in Schedule A. b. Affidavit executed by the Grantor that there are no claims pending or unpaid which could constitute a lien against the subject property. c. A satisfactory survey of the premises to be insured hereby, prepared by a Florida registered land surveyor, dated no more than 90 days prior to the closing date of the transaction upon which this commitment is based, and meeting the minimum standards for land surveys as set forth in Chapter 472.027, Florida Statutes and in Chapter 21 HH 6, Florida Administrative Code; must be furnished showing no encroachments or other objectionable matters. In addition, said survey must be certified to the company, and show all improvements located on the premises in order for the "survey exception" to be removed from the final policy. FATIC -203 (Rev. 9 -78) First American Title Insurance Company SCHEDULE B -II (Exceptions) Agent's File No.: 49 -4856 Commitment No. FA -CC- 144085 Schedule. B of the policy or policies to be issued will contain exceptions to the following matters unless the same are dis- posed of to the satisfaction of the Company. 1. Defects, liens, encumbrances, adverse claims, or other matters, if any, created, first appearing in the public records or attaching subsequent to the effective date hereof but prior to the date the proposed Insured acquires for value of rec- ord the estate or interest or mortgage thereon covered by this Commitment. 2. Any owner's policy issued pursuant. hereto will contain under Schedule B the General Exceptions set forth at the in- side cover hereof. Any loan policy will contain under Schedule B General Exceptions 1, 2, 3, and 5 unless a satisfac- tory survey and inspection of the premises is made and will contain General Exceptions 4 and 6. 3. In the event this Commitment is issued with respect to a construction loan to be disbursed in future periodic install- ments, then the policy shall contain an additional exception which shall read as follows: "Pending disbursement of the full proceeds of the loan secured by the mortgage insured, this policy only insures the amount actually disbursed, but increases as proceeds are disbursed in good faith and without knowledge of any intervening lien or interest to or for the account of the mortgagor up to the amount of the policy. Such dis- bursement shall not extend the date of the policy or change any part thereof unless such change is specifically made by written endorsement duly issued on behalf of the Company. Upon request by the insured (and payment of the proper charges therefor,) the Company will search the public records subsequent to the date of the policy and furnish to the insured a continuation report showing such matters affecting title to the land as they have appeared in the public records subsequent to the date of the policy or the date of the last preceeding continuation report, and if such continuation report shows intervening lien, or liens, or interest to or for the account of the mortgagor, then in such event this policy does not increase in liability unless such matters as actually shown on such continuation report are removed from the public records by the insured." 4. All taxes for the year 1991 and all subsequent years. Said taxes are not yet due and payable. The Tax Identification Number for the subject property is 24- 31 -38- 00001 - 2080 - 00003/0; said 1990 taxes were paid in the amount of $102.75. 5. Restrictions as recorded in Official Record Book 99, at Page 366, of the Public Records of Indian River County, Florida. 6. Easements as reserved and recorded in Plat Book 6, at Page 37, of the Public Records of Indian River County, Florida. 7. Any and all charges for public utilities furnished by a county or municipality which may be or may become a lien upon the land insured hereby under any provision of the Florida Statutes; and /or any county or municipal improvement liens which are not recorded among the Official Record Books of the county in which subject land is located. STANDARD EXCEPTIONS FOR OWNER'S POLICY The owner's policy will be subject to the mortgage, if any, noted under item one of Item 4 of Schedule B -I hereof and to the following general execptions: 1. Rights or claims of parties in possession not shown by the public records. 2. Easements, or claims of easements, not shown by the public records. 3. Encroachments, overlaps, boundary line disputes, or other matters which would be disclosed by an accurate survey or inspection of the premises. 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. 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. 6. Taxes or special assessments which are not shown as existing liens by the public records. CONDITIONS AND STIPULATIONS 1. The term "mortgage," when used herein, shall include deed of trust, trust deed, or other security instrument. If the proposed Insured has or acquires actual knowledge of any defect, lien, encumbrance, adverse claim or other matter affecting the estate or interest or mortgage thereon covered by this Commit- ment other than those shown in Schedule B -I and Schedule B -II hereof, and shall fail to disclose such knowledge to the Company in writing, the Company shall be relieved from liability for any loss or damage resulting from any act of reliance hereon to the extent the Company is prejudiced by failure to so disclose such knowledge. If the proposed Insured shall disclose such knowledge to the Company, or if the Company otherwise acquires actual knowledge of any such defect, lien, encumbrance, adverse claim, or other matter, the Company at its option may amend Schedule B -I and /or Schedule B -II of this Commitment accordingly, but such amendment shall not relieve the Company from liability previously incurred pursuant to paragraph 3 of these Conditions and Stipulations. Liability of the Company under this Commitment shall be only to the named proposed Insured and such parties included under the definition of Insured in the form of policy or policies com- mitted for and only for actual loss incurred in reliance hereon in undertaking in good faith (a) to comply with the requirements hereof, or (b) to eliminate exceptions shown in Schedule B -I or (c) to acquire or create the estate or interest or mortgage thereon covered by this Commitment. In no event shall such liability exceed the amount stated in Schedule A for the policy or policies committed for and such liability is subject to the insuring provisions, the Exclusions from Cover- age and the Conditions and Stipulations of the form of policy or policies committed for in favor of the proposed Insured which are hereby incorporated by reference and are made a part of this Commitment except as expressly modified herein. 4. Any action or actions or rights of action that the proposed Insured may have or may bring against the Company arising out of the status of the title to the estate or interest or the status of the mortgage thereon covered by this Commitment must be based on and are subject to the pro- visions of this Commitment.