Loading...
The URL can be used to link to this page
Your browser does not support the video tag.
Home
My WebLink
About
Property - Deeds/Titles - 8/30/2007, Special Warranty Deed, FRI Rock Ridge, LLC (Grantor) to TOV, Cancha Del Golf Lots 1-5
F. TN RODRIGUEZ, RECORDER DOCKET: 13130 RECO D BY: CML PAGE: 128 DEPUTY RECORDER NO. OF PAGES:( j \\ 20071690031 TFNTI W� ='+ z 08/30/2007 TOWN OF ORO VALLEY � � WTDEED 10:17 1100 W LA CANADA DR 44/20141* ORO VALLEY AZ 85737 MAIL AMOUNT PAID $ 10.00 uL v v a.s.J.cy, 1-3u (5c)C/ 2 -Ji3 SPECIAL WARRANTY DEED t-- -,4 -3 ` For good and valuable consideration, the receipt of which is hereby acknowledged, FRI Rock Ridge, LLC, an Arizona limited liability company ("Grantor"), does hereby convey to the Town of Oro Valley, a political subdivision of the State of Arizona ("Grantee"), and its successors and assigns forever, all of Grantor's right, title and interest in and to that certain real property located in Pima County, State of Arizona, which is legally described in Exhibit A attached hereto and made a part hereof, subject to: taxes, assessments, reservations in patents, easements, rights of way, encumbrances, liens, covenants, conditions and restrictions as may appear of record; any and all conditions, easements, encroachments, rights of way or restrictions which a physical inspection, or accurate ALTA survey of the property would reveal; and any applicable zoning and use regulations of any municipality county, state or federal government or agency affecting the property. Grantor hereby warrants the title to the property against all acts of Grantor and no others, subject to the matters set forth above. DATED: Augusfi2 , 2007 GRANTOR: FRI ROCK RIDGE, LLC., an Arizona limited liability company By: FARNAM REALTY, INC., an Arizona corporation, Manager (sair Charles B. Duff, President " / Nn 3 NI yyytl1i,� RIO nl u Special Warranty Deed(347092)/8968-013 w CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT State of California County of ,.-- .. A _ AA . .1 r / / On Z o before me 4p, I, C P -- ameandT'Ie.',• icer( Jo�6,Not ry Pub c) personally appeared e 5k clitSpj ' �f Signer(s) ❑ personally known to me or proved to me on the basis of satisfactory evidence) , � SANDRA SALKOW �,.� Commission # 1728321 to bethe person(s)whose name is/ re subscribed to the Z 1_ -J► Notary Public -California I within instrument and acknowledged to me that ''!'!� los Angeles County '` `� Comm. Mcf28,2011 he/she/they executed the same in his/her/their authorized capacitx(,i.$) and that by '_. er/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument. WITNESS my hand and official seal. Place Notary / Seal Above Signature ' I ' 04i_ii.) Signature of otary Public OPTIONAL Though the information below is not required by law, it may prove valuable to persons relying on the document and could prevent fraudulent removal and reattachment of this form to another document. Description of Attache _ument 7 Title or Type of Document: 0 t...0 OctAA kis 0 Document Date: Nu ber of Pages: Signer(s) Other Than Named Above: i N Capacity les) Claimed by Signer(s) Signer's .me: Signer's Na e: ❑ Individ :l ❑ Individual 1 ❑ Corporat: Officer—Title(s): ❑ Corporate icer—Title(s): D Partner—0 Limited ❑ General RIGHT THUMBPRINT ❑ Partner—E 'mited ❑ General RIGHT THUMBPRINT 3 ❑ Attorney in F. t OF SIGNER ❑Attorney in Fact OF SIGNER 1 Top of thumb here Top of thumb here ❑ Trustee ❑Trustee E Guardian or Cons= vator ❑ Guardian or Conse vator 0 ❑ Other: ❑ Other: , M 9 Signer Is Representing: Signer Is Representing: ©2006 National Notary Association•. 50 De Soto Ave.,P.O.Box 2402•Chatsworth,CA 91313-2402 tem No.5907 v609 Reorder:Call Toll-Free 1-800-876-6827 1 EXHIBIT A TO SPECIAL WARRANTY DEED Legal Description A parcel of land, being a drainage easement,lying in the Southeast one-quarter of Section 12, and the Northeast one-quarter of Section 13, Township 12 South, Range 13 East, Gila and Salt River Base and Meridian, Pima County, Arizona, being a part of CANCHA DEL GOLF Subdivision as recorded in Book 14 at page 28 of Maps and Plats in the Pima County Recorder's Office, more particularly described as follows: Beginning at the Southeastern most corner of the Desert Green at Oro Valley subdivision, per Book 47 of Maps and Plats, page 9, as recorded in the office of the Pima County Recorder, said corner being on the North right of way of Greenock; Thence North 27°17'00" East, along the Eastern line of said Desert Green at Oro Valley subdivision, a distance of 68.94 feet; Thence Northerly along said Eastern line, along the arc of a 779.51 foot radius curve,to the left, through a central angle of 38°50'12",whose radius point bears North 62°43'00"West, a distance of 528.37 feet to the Northeast corner of said Desert Green at Oro Valley; Thence South 77°23'35"West, a distance of 7.73 feet; Thence North 12°02'03" West along the common line between the Cancha Del Golf Subdivision, as recorded in Book 40 of Maps and Plats, on page 39, and the Oro Valley Estates Subdivision as recorded in Book 13 of Maps and Plats on page 60, a distance of 263.80 feet; Thence North 00°08'35"West, a distance of 231.02 feet; Thence Southeasterly 3.64 feet along the arc of a 1055.45 foot radius curve, to the right, through a central angle of 00°11'52",whose radius point bears South 66°35'08"West; Thence South 23°13'00"East, a distance of 224.84 feet; Thence continuing South 23°13'00"East, a distance of 154.49 feet; Thence Southeasterly 588.35 feet along the arc of a 1167.23 foot radius curve, to the left, through a central angle of 28°52'32",whose radius point bears North 66°47'00"East; Thence South 67°13'13"West, a distance of 88.66 feet; Thence Northwesterly 362.23 feet along the arc of a 1245.23 foot radius curve,to the right, 3 through a central angle of 16°40'02",whose radius point bears North 40°01'00"East; Thence Westerly 41.97 feet along the arc of a 16.00 foot curve,to the left,through a central angle of 150°18'18",whose radius point bears South 56°08'34"West; , Thence Southerly 158.00 feet along the arc of a 857.51 foot radius curve, to the right, through a central angle of 10°37'02",whose radius point bears South 86°16'14"West; Thence Southerly 451.28 feet along the arc of a 615.81 foot radius curve,to the left,through a central angle of 41 °59'15",whose radius point bears South 83°06'44"East; 3 Special Warranty Deed(347092)/8968-013 Thence North 62°56'17"West, a distance of 70.40 feet; Thence South 41 °46'17"East, a distance of 111.40 feet,to a point on the West right of way of the Tucson-Florence Highway/Oracle Road; Thence Southwesterly 70.58 feet along the arc of a 3969.72 foot radius curve, to the left, through a central angle of 01 °01'07",whose radius point bears South 63c30'25"East; Thence Westerly 49.20 feet along the arc of a 25.00 foot radius curve, to the right,through a central angle of 112°45'15",whose radius point bears North 64°31'32"West, to a point on the North right of way line of Greenock Drive; Thence North 41 °46'17"West, a distance of 215.13 feet; Thence Northwesterly 119.03 feet along the arc of a 330.00 foot radius curve, to the left, through a central angle of 20°39'59%whose radius point bears South 47°55'17"West, to the POINT OF BEGINNING. airy, 1N + N+h Al+r 4 Special Warranty Deed(347092)/8968-013 A F, - , 1 iARN :\H\I. \ I 1 OCT 1 7 97 October 12,2007 Mr.Scott Nelson Planning and Zoning Town of Oro Valley 11000 N.La Canada Drive Oro Valley,AZ 85737 • Re: Rooney Wash:Form 8283 Dear Scott: To complete the tax paperwork for the Rooney Wash transaction, we will need the Donee (Town of Oro Valley)to sign a form 8283 which will become part of our 2007 tax return. Attached is an original form 8283 already signed by Andria Burke,the appraiser.. I would appreciate it if you could obtain the appropriate signature for the Town of Oro Valley and also supply your EIN number in the appropriate space. If you have any questions,please call me. Thanks again for all your help in this matter. Elden E.von Lehe End. 7150 E . CAMELBACK RD, SUITE 444 SCOTTSDALE , ARIZONA 85251 480 - 477 - 8040 Form 8283(Rev. 12-2008) Page 5 Name(s)shown on your income tax return Identifying number FRI ROCK RIDGE, LLC (A SMLLC OF FARNAM REALTY, INC. ) 86-0773975 Section B. Donated Property Over$5,000(Except Certain Publicly Traded Securities)--List in this section only items(or groups of similar items)for which you claimed a deduction of more than$5,000 per item or group(except contributions of certain publicly traded securities reported in Section A).An appraisal is generally required for property listed in Section B(see instructions). dwrq rc G rgdvhg Surshuaju To be completed by the taxpayer and/or the appraiser. 7 Check the box that describes the type of property donated: El Art'(contribution of$20,000 or more) Q Qualified Conservation Contribution El Equipment ❑ Art`(contribution of less than$20,000) RI Other Real Estate ❑ Securities ❑ Collectibles" ❑ Intellectual Property 0 Other 'Art includes paintings,sculptures,watercolors,prints.drawings.ceramics,antiques.decorative ars.textiles.carpets.silver,rare manuscripts,historical memorabilia.and other similar objects. "Collectibles include coins.stamps.books,gems,jeweelry,sports memorabilia, dolls.etc..but not art as defined above. Q rvhl In certain cases,you must attach a qualified appraisal of the property.See instructions. 5 (a)Description of donated property(if you need (b)If tangible property was donated,give a brief summary of the overall (C)Appraised fair more space.attach a separate statement) physical condition of the property at the time of the gift market value A.4 . 74 ACRES VACANT LAND 340, 000 B C D (d)Date acquired (e)How acquired (f)Donor's cost or 1 (9)For bargainsales,enter see Instructions by donor(mo..yr.) by donor adjusted basis amount received (h)Amount clamed as a (i)Average trading price deduction of securities A 10/15/03 PURCHASE 340, 0001 B C D _ Part II Taxpayer(Donor)Statement—List each item included in Part I above that the appraisal identifies as having a value of$500 or less. See instructions. I declare that the following item(s)included in Part 1 above has to the best of my knowledge and belief an appraised value of not more than$500 (per item).Enter identifying letter from Part I and describe the specific item. See instructions. �► _ _ Signature of taxpayer(donor) ► Date ► .' 1, , Ghfadixh rq riD sstz3]rhu I declare that lam not the donor,the donee,a party to the transaction in which the donor acquired the property,employed by,or related to any of the foregoing persons,or married to any person who is related to any of the foregoing persons.And,if regularly used by the donor,donee,or party to the transaction,I performed the majority of my appraisals during my tax year for other persons. Also,I declare that I hold myself out to the public as an appraiser or perform appraisals on a regular basis;and that because of my qualifications as described in the appraisal,I am qualified to make appraisals of the type of properly being valued.I certify that the appraisal fees were not based on a percentage of the appraised property value.Furthermore,I understand that a false or fraudulent overstatement of the property value as described in the qualified appraisal or this Fonn 82$3 may subject me to the penalty under section 6701(a)(aiding and abetting the understatement of tax liability).in addition,I understand that a substantial or gross valuation misstatement resulting from the appraisal of the value of the property that I know,or reasonably should know,would be used in connection with a return or claim for refund,may subject me to the penalty under section 95A.I affirm that I have no arred from presenting evidence or testimony by the Office of Professional Responsibility. V lj q hth Signature / K 0. Title ► 5p it Date ► / — Business address(incl= •'-. room or suite no.) Identifying number 110 SOUTH CHURCH, SUITE 8300 _ 34-2048638 City or town,state,and ZIP code TUCSON, AZ 85701 G rghh D fngrz chgj p hgvIJ To be completed by the charitable organization. This charitable organization acknowledges that it is a qual 2 8 org n ization under section 170(c)and that it received the donated property as described in Section B,Part I,above on the following date► $/ /o Furthermore,this organization affirms that in the event it sells,exchanges,or otherwise disposes of the property described in Section B,Part I(or any portion thereof)within 3 years after the date of receipt,it will file I rip ;5;5/Donee Information Return,with the IRS and give the donor a copy of that form.This acknowledgment does not represent agreement with the claimed fair market value. Does the organization intend to use the property for an unrelated use? , , , . , , , , , , , , , , , ► [] Yes ® No Name of charitable organization(donee) Employer identification number TOWN OF ORO VALLEY 1 8k - 4124130aq Address(number,street,and room or suite no.) City or town,state,and ZIP code ORO VALLEY, AZ Auth. ized signatuEe Tit,- Date ../.4L . AC ..- _ OvN / a , - f() 7 47 . Form 8 83 (Rev. 12-2006) VWI SN(Y433315 t n nn "III Fidelity National Title ..� INSURANCE COMPANYsa FNTC - 7750 E. Broadway, #A-200• Tucson, AZ 85710 �`` 0 September 25, 2007 Town of Oro Valley 1 100 W La Canada Dr Oro Valley, AZ 85737 Order No.: 45000260-JB- We appreciate the opportunity of being of service to you. Fidelity National Title Agency ALTA Owner's Policy (6/17/06) Standard Coverage SCHEDULE A Name and Address of Title Insurance Company: Fidelity National Title Insurance Company, 7750 E. Broadway, #A200, Tucson, AZ 85710 File No.: 45000260-JB- Policy No.: 27-031-06 59907 Address Reference: , Tucson, Arizona Amount of Insurance: $ 340,000.00 Premium : $ 1,272.70 Date of Policy: August 30, 2007 at 10:17 a.m. 1. Name of Insured: Town of Oro Valley, a political subdivision of the State of Arizona 2. The estate or interest in the Land that is insured by this policy is: A FEE 3. Title is vested in: Town of Oro Valley, a political subdivision of the State of Arizona 4. The Land referred to in this policy is described as follows: SEE EXHIBIT "ONE" ATTACHED HERETO AND MADE A PART HEREOF THIS POLICY VALID ONLY IF SCHEDULE B IS ATTACHED 1 I I ALTA Owner's Policy (6/17/06) Standard Coverage File No.: 45000260-JB- Policy No.: 27-031-06 59907 EXHIBIT "ONE" A parcel of land, being a drainage easement, lying in the Southeast one-quarter of Section 12, and the Northeast one-quarter of Section 13, Township 12 South, Range 13 East, Gila and Salt River Base and Meridian, Pima County, Arizona, being a part of CANCHA DEL GOLF Subdivision as recorded in Book 14 at page 28 of Maps and Plats in the Pima County Recorder's Office, more particularly described as follows: Beginning at the Southeastern most corner of the Desert Green at Oro Valley subdivision, per Book 47 of Maps and Plats, page 9, as recorded in the office of the Pima County Recorder, said corner being on the North right of way of Greenock; Thence North 27°17'00" East, along the Eastern line of said Desert Green at Oro Valley subdivision, a distance of 68.94 feet; Thence Northerly along said Eastern line, along the arc of a 779.51 foot radius curve, to the left, through a central angle of 38°50'12", whose radius point bears North 62°43'00" West, a distance of 528.37 feet to the Northeast corner of said Desert Green at Oro Valley; Thence South 77°23'35" West, a distance of 7.73 feet; Thence North 12°02'03" West along the common line between the Cancha Del Golf Subdivision, as recorded in Book 40 of Maps and Plats, on page 39, and the Oro Valley Estates Subdivision as recorded in Book 13 of Maps and Plats on page 60, a distance of 263.80 feet; Thence North 00°08'35" West, a distance of 231.02 feet; Thence Southeasterly 3.64 feet along the arc of a 1055.45 foot radius curve, to the right, through a central angle of 00°11'52", whose radius point bears South 66°35'08" West; Thence South 23°13'00" East, a distance of 224.84 feet; Thence continuing South 23°13'00" East, a distance of 154.49 feet; Thence Southeasterly 588.35 feet along the arc of a 1167.23 foot radius curve, to the left, through a central angle of 28°52'32", whose radius point bears North 66°47'00" East; Thence South 67°13'13" West, a distance of 88.66 feet; Thence Northwesterly 362.23 feet along the arc of a 1245.23 foot radius curve, to the right, through a central angle of 16°40'02", whose radius point bears North 40°01'00" East; Thence Westerly 41.97 feet along the arc of a 16.00 foot curve, to the left, through a central angle of 150°18'18", whose radius point bears South 56°08'34" West; Thence Southerly 158.90 feet along the arc of a 857.51 foot radius curve, to the right, through a central angle of 10°37'02", whose radius point bears South 86°16'14" West; Thence Southerly 451.28 feet along the arc of a 615.81 foot radius curve, to the left, through a central angle of 41°59'15", whose radius point bears South 83°06'44" East; Thence North 62°56'17" West, a distance of 70.40 feet; 2 ALTA Owner's Policy (6/17/06) Standard Coverage File No.: 45000260-JB- Policy No.: 27-031-06 59907 Thence South 41 °46'17" East, a distance of 111.40 feet, to a point on the West right of way of the Tucson-Florence Highway/Oracle Road; Thence Southwesterly 70.58 feet along the arc of a 3969.72 foot radius curve, to the left, through a central angle of 01°01'07", whose radius point bears South 63°30'25" East; Thence Westerly 49.20 feet along the arc of a 25.00 foot radius curve, to the right, through a central angle of 112°45'15", whose radius point bears North 64°31'32" West, to a point on the North right of way line of Greenock Drive; Thence North 41 °46'17" West, a distance of 215.13 feet; Thence Northwesterly 119.03 feet along the arc of a 330.00 foot radius curve, to the left, through a central angle of 20°39'59", whose radius point bears South 47°55'17" West, to the POINT OF BEGINNING. 3 , , ALTA Owner's Policy (6/17/06) Standard Coverage File No.: 45000260-JB- Policy No.: 27-031-06 59907 SCHEDULE B EXCEPTIONS FROM COVERAGE This policy does not insure against loss or damage, and the Company will not pay costs, attorneys' fees, or expenses that arise by reason of: 1. Regulations, conditions and restrictions governing use of ground water pursuant to Arizona Revised Statutes 45-101 et. Seq. 2. (a) Taxes or assessments that are not shown as existing liens by the records of any taxing authority that levies taxes or assessments on real property or by the Public Records (b) proceedings by a public agency that may result in taxes or assessments, or notices of such proceedings, whether or not shown by the records of such agency or by the Public Records. 3. Any facts, rights, interests, or claims that are not shown by the Public Records but that could be ascertained by an inspection of the Land or that may be asserted by persons in possession of the Land. 4. Easements, liens or encumbrances, or claims thereof, not shown by the Public Records. 5. Any encroachment, encumbrance, violation, variation, or adverse circumstance affecting the Title that would be disclosed by an accurate and complete land survey of the Land and not shown by the Public Records. 6. (a) Unpatented mining claims (b) reservations or exceptions in patents or in Acts authorizing the issuance thereof (c) water rights, claims or title to water, whether or not the matters excepted under (a), (b), or (c) are shown by the Public Records. 7. Property taxes, which are a lien not yet due and payable, including any personal property taxes and any assessments collected with taxes to be levied for the year 2007. 8. Reservations, exceptions and provisions contained in the patent from the State of Arizona, and in the acts authorizing the issuance thereof, recorded Book 229, Page 38 and 39, of Book of Deeds 9. Water rights, claims or title to water, whether or not disclosed by the public records. 10. Easements, restrictions, and matters shown on the recorded map of said subdivision. and dedications as set forth in plats recorded in Book 14 of Maps and Plats at page 28 and in Book 40 of Maps and Plats at page 39. 4 ALTA Owner's Policy (6/17/06) Standard Coverage File No.: 45000260-JB- Policy No.: 27-031-06 59907 11. Easement(s) for the purpose(s) shown below and rights incidental thereto as granted in a document. Granted to: Stonewall Electric Co Purpose: stated therein Recorded: Book 68, Page 291, of Miscellaneous Records Affects: 12. Easement(s) for the purpose(s) shown below and rights incidental thereto as granted in a document. Granted to: Stonewall Electric Co Purpose: stated therein Recorded: Book 69, Page 267, of Miscellaneous Records Affects: 13. Easement(s) for the purpose(s) shown below and rights incidental thereto as granted in a document. Granted to: Mountain States Telephone and Telegraph Co Purpose: stated therein Recorded: Docket 6904, Page 810 Affects: 14. Easement(s) for the purpose(s) shown below and rights incidental thereto as granted in a document. Purpose: sewer Recorded: Docket 7305, Page 737 Affects: 15. Terms and conditions of Access Easement recorded in Docket 7309 at page 645 and re-recorded in Docket 7390 at page 482. 16. Terms and conditions of Drainage Easement recorded in Docket 7309 at page 656. 17. Rights of way for existing sewer, gas, water or similar pipelines or for canals, laterals or ditches, or for electric, telephone and similar lines, if any, that were in existence prior to the abandonment of that portion of the subject property within abandoned alley as set forth in Docket 7335 at page 891. 18. Terms and conditions of Memorandum recorded in Docket 10247 at page 1478. 5 Owner's No.: ALTA Policy (6/17/06) Standard Coverage File 45000260-JB- Policy No.: 27-031-06 59907 19. Terms and conditions of Water Utility Easement recorded in Docket 10276 at page 1090. 20. Terms and conditions of Memorandum of Agreement regarding non-exclusive license recorded in Docket 10322 at page 1838. 6 AssEssoR °S RECORD MAP AREA-CODE 224-33 Cc CANCHA DEIN GOLF ion L OTS o5 LI (RES I_ I:PORTION OF M&P 14/028) ib q FORMERLY 203-24 - I PUS-CH VIEW—LANE ``' q 1 715.43' 273.56' M 3 466} m L � r+ Q UNSUBDI VIDED Ejl Z 4 H n v+ � o i r,j m Mp o o N 89-51-24 E L z 225.00' 275.00' A S B9-51-24 V �O O �o �� o CANCHA -____ 3 N 89-51-24 E ti g er DEL GOLF yN 400.88' o Z _,;\,' �, 14/28 M&f�' T12S,R13 T12S,R14E `' °D 131.08' z� /' NE COR.S13,T12S,R13E ,' '.o N89-51-24E ti // FA/121 1/2'610 BRASS PIPE ORa VALLEY ES rA rEs N ��� 3 4,, //' ; 'k O-,,,,%. � ° � / 4, 13/60 M&P 7.73' 8=5061.17' / / / --As? ' ,rV L=84.43' =00-57-21 /41''' g71.35' - 1I^ 6,.,� //4:1 // '� s (5 / N71-Z'3_ 1 N I c�,F,',1v , e /4''''' / / V ' 9 2� / ,''',..' / mon, } O* . 0,it o CA �!T C', �Ab 'I /' VI" 1`�,1�1 ��� f ro 4 s'''''' ab 133'263-13f,/ /' ~N81-49-_' 41 1 /- c A3 100' N67 O / I 334.50 8W -_ 1 N763744,9, /4 N81-30-60V �'y// -6`46-30W '<v A ^ Z / p/PW ORO VALLEY APT. N13-13-30Es` -, ', v 4 6 4 ,;6'41 county CONDOMINIUM AREA_ -S0�oo�o ' /.,%;:i? ‘'1 ,'�c, o�' assessor - - ;.-113,i-'''2' � \y ,2`, /(). / I . �� �r "'��`�a°` �"N ti r4, 4,, he p / / ,: GREENOCK 16 �`'�' / /' C�7 •/' ‹.)•. ,<.\,,,,,,.,..-/,,,:,,..„6 103.64' / / URU VALLEY ��1-$\\ �sk,,'— fj�0- N62-56-17V // TOWNHOUSES R 3969.72' \` o G1�01 07 // SEE B❑❑K 40 PAGE 39 M&P HORIZON , p! 1996-1 HEIGHTS L=49.20' 25/66 M&P S12,13,T12S,R13E 15/84 M&P 1:\MP40\40039- 11/22/95 r CC 100 200I E 300 400 f [ FEET FIDELITY NATIONAL TITLE INSURANCE COMPANY -7= ne TM Fidelity National Title Insurance Company P.O. Box 45023 Jacksonville, Florida 32232-5023 14. ARBITRATION ,16. SEVERABILITY Either the Company or the Insured may demand that the claim or controversy In the event any provision of this policy,in whole or in part,is held invalid or shall be submitted to arbitration pursuant to the Title Insurance Arbitration Rules of the unenforceable under applicable law, the policy shall be deemed not to include that American Land Title Association ("Rules"). Except as provided in the Rules,there provision or such part held to be invalid,but all other provisions shall remain in full shall be no joinder or consolidation with claims or controversies of other persons. force and effect. 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,any service in 17. CHOICE OF LAW;FORUM connection with its issuance or the breach of a policy provision, or to any other (a) Choice of Law: The Insured acknowledges the Company has underwritten controversy or claim arising out of the transaction giving rise to this policy.All arbitrable the risks covered by this policy and determined the premium charged therefor matters when the Amount of Insurance is$2,000,000 or less shall be arbitrated at the in reliance upon the law affecting interests in real property and applicable option of either the Company or the Insured. All arbitrable matters when the Amount to the interpretation, rights, remedies, or enforcement of policies of title of Insurance is in excess of$2,000,000 shall be arbitrated only when agreed to by both insurance of the jurisdiction where the Land is located. the Company and the Insured. Arbitration pursuant to this policy and under the Rules Therefore,the court or an arbitrator shall apply the law of the jurisdiction shall be binding upon the parties. Judgment upon the award rendered by the Arbitrator(s) where the Land is located to determine the validity of claims against the may be entered in any court of competent jurisdiction. Title that are adverse to the Insured and to interpret and enforce the terms of this policy. In neither case shall the court or arbitrator apply its conflicts of 15. LIABILITY LIMITED TO THIS POLICY;POLICY ENTIRE CONTRACT law principles to determine the applicable law. (a) This policy together with all endorsements, if any, attached to it by the (b) Choice of Forum: Any litigation or other proceeding brought by the Insured Company is the entire policy and contract between the Insured and the against the Company must be filed only in a state or federal court within the Company. In interpreting any provision of this policy,this policy shall be United States of America or its territories having appropriate jurisdiction. construed as a whole. (b) Any claim of loss or damage that arises out of the status of the Title or by 18. NOTICES,WHERE SENT any action asserting such claim shall be restricted to this policy. Any notice of claim and any other notice or statement in writing required to be (c) Any amendment of or endorsement to this policy must be in writing and given to the Company under this policy must be given to the Company at authenticated by an authorized person,or expressly incorporated by Sched- ule A of this policy. Fidelity National Title Company (d) Each endorsement to this policy issued at any time is made a part of this National Claims Administration: policy and is subject to all of its terms and provisions. Except as the en- P.O.Box 45023 dorsement expressly states,it does not(i)modify any of the terms and pro- Jacksonville,Florida 32232-5023 visions of the policy, (ii) modify any prior endorsement, (iii) extend the Date of Policy,or(iv)increase the Amount of Insurance. 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 that arise by reason of: 1. (a) Any law,ordinance,permit,or governmental regulation(including those relating to building and zoning)restricting,regulating,prohibiting,or relating to (i) the occupancy,use,or enjoyment of the Land; (ii) the character,dimensions,or location of any improvement erected on the Land; (iii) the subdivision of land;or (iv) environmental protection; or the effect of any violation of these laws,ordinances,or governmental regulations. This Exclusion 1(a)does not modify or limit the coverage provided under Covered Risk 5. (b) Any governmental police power. This Exclusion 1(b)does not modify or limit the coverage provided under Covered Risk 6. 2. Rights of eminent domain. This Exclusion does not modify or limit the coverage provided under Covered Risk 7 or 8. 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(however,this does not modify or limit the coverage provided under Covered Risk 9 and 10);or (e) resulting in loss or damage that would not have been sustained if the Insured Claimant had paid value for the Title. 4. Any claim,by reason of the operation of federal bankruptcy,state insolvency,or similar creditors'rights laws,that the transaction vesting the Title as shown in Schedule A,is (a) a fraudulent conveyance or fraudulent transfer;or (b) a preferential transfer for any reason not stated in Covered Risk 9 of this policy. 5. Any lien on the Title for real estate taxes or assessments imposed by governmental authority and created or attaching between Date of Policy and the date of recording of the deed or other instrument of transfer in the Public Records that vests Title as shown in Schedule A. CONDITIONS 1.DEFINITION OF TERMS Covered Risk 5(d),"Public Records"shall also include environmental pro- The following terms when used in this policy mean: tection liens filed in the records of the clerk of the United States District (a) "Amount of Insurance": The amount stated in Schedule A,as may be in- Court for the district where the Land is located. creased or decreased by endorsement to this policy,increased by Section (j) "Title": The estate or interest described in Schedule A. 8(b),or decreased by Sections 10 and 11 of these Conditions. (k) "Unmarketable Title":Title affected by an alleged or apparent matter that (b) "Date of Policy": The date designated as"Date of Policy"in Schedule A. would permit a prospective purchaser or lessee of the Title or lender on the (c) "Entity": A corporation, partnership, trust, limited liability company, or Title to be released from the obligation to purchase,lease,or lend if there is other similar legal entity. a contractual condition requiring the delivery of marketable title. (d) "Insured": The Insured named in Schedule A. (i) The term"Insured"also includes 2. CONTINUATION OF INSURANCE (A) successors to the Title of the Insured by operation of law as dis- The coverage of this policy shall continue in force as of Date of Policy in favor of tinguished from purchase, including heirs,devisees, survivors, an Insured,but only so long as the Insured retains an estate or interest in the Land,or personal representatives,or next of kin; holds an obligation secured by a purchase money Mortgage given by a purchaser from (B) successors to an Insured by dissolution,merger,consolidation, the Insured,or only so long as the Insured shall have liability by reason of warranties distribution,or reorganization; in any transfer or conveyance of the Title. This policy shall not continue in force in (C) successors to an Insured by its conversion to another kind of favor of any purchaser from the Insured of either(i)an estate or interest in the Land,or Entity; (ii)an obligation secured by a purchase money Mortgage given to the Insured. (D) a grantee of an Insured under a deed delivered without payment of actual valuable consideration conveying the Title 3. NOTICE OF CLAIM TO BE GIVEN BY INSURED CLAIMANT (1) if the stock,shares,memberships,or other equity interests The Insured shall notify the Company promptly in writing(i)in case of any litigation of the grantee are wholly-owned by the named Insured, as set forth in Section 5(a)of these Conditions,(ii)in case Knowledge shall come to an (2) if the grantee wholly owns the named Insured, Insured hereunder of any claim of title or interest that is adverse to the Title,as insured, (3) if the grantee is wholly-owned by an affiliated Entity of and that might cause loss or damage for which the Company may be liable by virtue of the named Insured,provided the affiliated Entity and the this policy,or(iii) if the Title, as insured, is rejected as Unmarketable Title. If the named Insured are both wholly-owned by the same person Company is prejudiced by the failure of the Insured Claimant to provide prompt notice, or Entity,or the Company's liability to the Insured Claimant under the policy shall be reduced to (4) if the grantee is a trustee or beneficiary of a trust created the extent of the prejudice. by a written instrument established by the Insured named in Schedule A for estate planning purposes. 4. PROOF OF LOSS (ii) With regard to(A), (B), (C), and(D)reserving, however, all rights In the event the Company is unable to determine the amount of loss or damage,the and defenses as to any successor that the Company would have had Company may,at its option,require as a condition of payment that the Insured Claimant against any predecessor Insured. furnish a signed proof of loss. The proof of loss must describe the defect, lien, (e) "Insured Claimant": An Insured claiming loss or damage. encumbrance,or other matter insured against by this policy that constitutes the basis of (f) "Knowledge"or"Known": Actual knowledge,not constructive knowledge loss or damage and shall state,to the extent possible,the basis of calculating the amount or notice that may be imputed to an Insured by reason of the Public Records of the loss or damage. or any other records that impart constructive notice of matters affecting the Title. 5. DEFENSE AND PROSECUTION OF ACTIONS (g) "Land": The land described in Schedule A,and affixed improvements that (a) Upon written request by the Insured,and subject to the options contained in by law constitute real property. The term"Land"does not include any prop- Section 7 of these Conditions, the Company,at its own cost and without erty beyond the lines of the area described in Schedule A, nor any right, unreasonable delay,shall provide for the defense of an Insured in litigation title,interest,estate,or easement in abutting streets,roads,avenues,alleys, in which any third party asserts a claim covered by this policy adverse to lanes,ways,or waterways,but this does not modify or limit the extent that the Insured. This obligation is limited to only those stated causes of action a right of access to and from the Land is insured by this policy. alleging matters insured against by this policy. The Company shall have the (h) "Mortgage": Mortgage,deed of trust,trust deed,or other security instru- right to select counsel of its choice(subject to the right of the Insured to ment,including one evidenced by electronic means authorized by law. object for reasonable cause)to represent the Insured as to those stated causes (i) "Public Records": Records established under state statutes at Date of Policy of action. It shall not be liable for and will not pay the fees of any other for the purpose of imparting constructive notice of matters relating to real counsel. The Company will not pay any fees,costs,or expenses incurred property to purchasers for value and without Knowledge. With respect to by the Insured in the defense of those causes of action that allege matters not insured against by this policy. rized by the Company up to the time of payment and that the Com- (b) The Company shall have the right,in addition to the options contained in pany is obligated to pay. Section 7 of these Conditions,at its own cost,to institute and prosecute any Upon the exercise by the Company of either of the options provided for in action or proceeding or to do any other act that in its opinion may be neces- subsections (b)(i)or(ii), the Company's obligations to the Insured under sary or desirable to establish the Title,as insured,or to prevent or reduce this policy for the claimed loss or damage,other than the payments required loss or damage to the Insured. The Company may take any appropriate to be made,shall terminate,including any liability or obligation to defend, action under the terms of this policy,whether or not it shall be liable to the prosecute,or continue any litigation. Insured. The exercise of these rights shall not be an admission of liability or waiver of any provision of this policy. If the Company exercises its 8. DETERMINATION AND EXTENT OF LIABILITY rights under this subsection,it must do so diligently. This policy is a contract of indemnity against actual monetary loss or damage (c) Whenever the Company brings an action or asserts a defense as required or sustained or incurred by the Insured Claimant who has suffered loss or damage by permitted by this policy,the Company may pursue the litigation to a final reason of matters insured against by this policy. determination by a court of competent jurisdiction,and it expressly reserves (a)The extent of liability of the Company for loss or damage under this policy the right,in its sole discretion,to appeal any adverse judgment or order. shall not exceed the lesser of (i) the Amount of Insurance;or 6. DUTY OF INSURED CLAIMANT TO COOPERATE (ii) the difference between the value of the Title as insured and the value (a) In all cases where this policy permits or requires the Company to prosecute of the Title subject to the risk insured against by this policy. or provide for the defense of any action or proceeding and any appeals,the (b) If the Company pursues its rights under Section 5 of these Conditions and is Insured shall secure to the Company the right to so prosecute or provide unsuccessful in establishing the Title,as insured, defense in the action or proceeding,including the right to use,at its option, (i) the Amount of Insurance shall be increased by 10%,and the name of the Insured for this purpose. Whenever requested by the Com- (ii) the Insured Claimant shall have the right to have the loss or damage pany,the Insured,at the Company's expense,shall give the Company all determined either as of the date the claim was made by the Insured reasonable aid(i)in securing evidence,obtaining witnesses,prosecuting or Claimant or as of the date it is settled and paid. defending the action or proceeding,or effecting settlement,and(ii)in any (c) In addition to the extent of liability under(a)and(b),the Company will also other lawful act that in the opinion of the Company may be necessary or pay those costs,attorneys' fees,and expenses incurred in accordance with desirable to establish the Title or any other matter as insured. If the Com- Sections 5 and 7 of these Conditions. pany is prejudiced by the failure of the Insured to furnish the required coop- eration, the Company's obligations to the Insured under the policy shall 9. LIMITATION OF LIABILITY terminate,including any liability or obligation to defend,prosecute,or con- (a) If the Company establishes the Title,or removes the alleged defect,lien,or tinue any litigation,with regard to the matter or matters requiring such co- encumbrance,or cures the lack of a right of access to or from the Land,or operation. cures the claim of Unmarketable Title,all as insured,in a reasonably diligent (b) The Company may reasonably require the Insured Claimant to submit to manner by any method, including litigation and the completion of any examination under oath by any authorized representative of the Company appeals, it shall have fully performed its obligations with respect to that and to produce for examination,inspection,and copying, at such reason- matter and shall not be liable for any loss or damage caused to the Insured. able times and places as may be designated by the authorized representative (b) In the event of any litigation,including litigation by the Company or with of the Company, all records, in whatever medium maintained, including the Company's consent,the Company shall have no liability for loss or dam- books,ledgers,checks,memoranda,correspondence,reports,e-mails,disks, age until there has been a final determination by a court of competent juris- tapes,and videos whether bearing a date before or after Date of Policy,that diction,and disposition of all appeals,adverse to the Title,as insured. reasonably pertain to the loss or damage. Further,if requested by any au- (c) The Company shall not be liable for loss or damage to the Insured for liabil- thorized representative of the Company,the Insured Claimant shall grant its ity voluntarily assumed by the Insured in settling any claim or suit without permission,in writing,for any authorized representative of the Company to the prior written consent of the Company. examine,inspect,and copy all of these records in the custody or control of a third party that reasonably pertain to the loss or damage. All information 10. REDUCTION OF INSURANCE; REDUCTION OR TERMINATION OF designated as confidential by the Insured Claimant provided to the Com- LIABILITY pany pursuant to this Section shall not be disclosed to others unless,in the All payments under this policy,except payments made for costs,attorneys'fees, reasonable judgment of the Company,it is necessary in the administration and expenses,shall reduce the Amount of Insurance by the amount of the payment. of the claim. Failure of the Insured Claimant to submit for examination under oath,produce any reasonably requested information,or grant permis- 11. LIABILITY NONCUMULATIVE sion to secure reasonably necessary information from third parties as re- The Amount of Insurance shall be reduced by any amount the Company pays quired in this subsection,unless prohibited by law or governmental regula- under any policy insuring a Mortgage to which exception is taken in Schedule B or to tion, shall terminate any liability of the Company under this policy as to which the Insured has agreed,assumed,or taken subject,or which is executed by an that claim. Insured after Date of Policy and which is a charge or lien on the Title,and the amount so paid shall be deemed a payment to the Insured under this policy. 7. OPTIONS TO PAY OR OTHERWISE SETTLE CLAIMS;TERMINATION OF LIABILITY 12. PAYMENT OF LOSS In case of a claim under this policy,the Company shall have the following addi- When liability and the extent of loss or damage have been definitely fixed in tional options: accordance with these Conditions,the payment shall be made within 30 days. (a) To Pay or Tender Payment of the Amount of Insurance. To pay or tender payment of the Amount of Insurance under this policy 13. RIGHTS OF RECOVERY UPON PAYMENT OR SETTLEMENT together with any costs,attorneys' fees,and expenses incurred by the In- (a) Whenever the Company shall have settled and paid a claim under this policy, sured Claimant that were authorized by the Company up to the time of pay- it shall be subrogated and entitled to the rights of the Insured Claimant in ment or tender of payment and that the Company is obligated to pay. the Title and all other rights and remedies in respect to the claim that the Upon the exercise by the Company of this option,all liability and obliga- Insured Claimant has against any person or property,to the extent of the tions of the Company to the Insured under this policy,other than to make amount of any loss,costs,attorneys'fees,and expenses paid by the Company. the payment required in this subsection,shall terminate, including any li- If requested by the Company,the Insured Claimant shall execute documents ability or obligation to defend,prosecute,or continue any litigation. to evidence the transfer to the Company of these rights and remedies. The (b) To Pay or Otherwise Settle With Parties Other Than the Insured or With the Insured Claimant shall permit the Company to sue,compromise,or settle in Insured Claimant. the name of the Insured Claimant and to use the name of the Insured Claimant (i) To pay or otherwise settle with other parties for or in the name of an in any transaction or litigation involving these rights and remedies. Insured Claimant any claim insured against under this policy. In addi- If a payment on account of a claim does not fully cover the loss of the tion,the Company will pay any costs,attorneys' fees,and expenses Insured Claimant,the Company shall defer the exercise of its right to recover incurred by the Insured Claimant that were authorized by the Com- until after the Insured Claimant shall have recovered its loss. pany up to the time of payment and that the Company is obligated to (b) The Company's right of subrogation includes the rights of the Insured to pay;or indemnities, guaranties, other policies of insurance, or bonds, (ii) To pay or otherwise settle with the Insured Claimant the loss or dam- notwithstanding any terms or conditions contained in those instruments that age provided for under this policy,together with any costs,attorneys' address subrogation rights. fees,and expenses incurred by the Insured Claimant that were Who- (j) FidelityNational Title Insurance Company nr Policy Number: 27-031-06- 59907 OWNER'S POLICY OF TITLE INSURANCE Issued by Fidelity National Title Insurance Company Any notice of claim and any other notice or statement in writing required to be given to the Company under this Policy must be given to the Company at the address shown in Section 18 of the Conditions. COVERED RISKS SUBJECT TO THE EXCLUSIONS FROM COVERAGE, THE EXCEPTIONS FROM COVERAGE CONTAINED IN SCHEDULE B,AND THE CONDITIONS,FIDELITY NATIONAL TITLE INSURANCE COMPANY,a California corpora- tion (the"Company") insures, as of Date of Policy and, to the extent stated in Covered Risks 9 and 10, after Date of Policy, against loss or damage, not exceeding the Amount of Insurance, sustained or incurred by the Insured by reason of: 1. Title being vested other than as stated in Schedule A. 2. Any defect in or lien or encumbrance on the Title. This Covered Risk includes but is not limited to insurance against loss from (a) A defect in the Title caused by (i) forgery, fraud, undue influence, duress, incompetency, incapacity, or impersonation; (ii) failure of any person or Entity to have authorized a transfer or conveyance; (iii) a document affecting Title not properly created,executed, witnessed, sealed, acknowledged,notarized,or deliv- ered; (iv) failure to perform those acts necessary to create a document by electronic means authorized by law; (v) a document executed under a falsified, expired,or otherwise invalid power of attorney; (vi) a document not properly filed,recorded,or indexed in the Public Records including failure to perform those acts by electronic means authorized by law;or (vii) a defective judicial or administrative proceeding. (b) The lien of real estate taxes or assessments imposed on the Title by a governmental authority due or payable, but unpaid. (c) Any encroachment, encumbrance, violation, variation, or adverse circumstance affecting the Title that would be disclosed by an accurate and complete land survey of the Land. The term"encroachment"includes encroachments of existing improvements located on the Land onto adjoining land, and encroachments onto the Land of existing im- provements located on adjoining land. 3. Unmarketable Title. 4. No right of access to and from the Land. 5. The violation or enforcement of any law, ordinance, permit, or governmental regulation (including those relating to building and zoning) restricting, regulating, prohibiting, or relating to (a) the occupancy, use, or enjoyment of the Land; (b) the character, dimensions, or location of any improvement erected on the Land; (c) the subdivision of land; or (d) environmental protection if a notice, describing any part of the Land, is recorded in the Public Records setting forth the violation or intention to enforce, but only to the extent of the violation or enforcement referred to in that notice. FORM 27-031-06 ALTA Owner's Policy(6-17-06) 6. An enforcement action based on the exercise of a governmental police power not covered by Covered Risk 5 if a notice of the enforcement action, describing any part of the Land, is recorded in the Public Records, but only to the extent of the enforcement referred to in that notice. 7. The exercise of the rights of eminent domain if a notice of the exercise,describing any part of the Land,is recorded in the Public Records. 8. Any taking by a governmental body that has occurred and is binding on the rights of a purchaser for value without Knowledge. 9. Title being vested other than as stated in Schedule A or being defective (a) as a result of the avoidance in whole or in part,or from a court order providing an alternative remedy,of a transfer of all or any part of the title to or any interest in the Land occurring prior to the transaction vesting Title as shown in Schedule A because that prior transfer constituted a fraudulent or preferential transfer under federal bankruptcy,state insolvency, or similar creditors'rights laws; or (b) because the instrument of transfer vesting Title as shown in Schedule A constitutes a preferential transfer under federal bankruptcy, state insolvency, or similar creditors' rights laws by reason of the failure of its recording in the Public Records (i) to be timely,or (ii) to impart notice of its existence to a purchaser for value or to a judgment or lien creditor. 10. Any defect in or lien or encumbrance on the Title or other matter included in Covered Risks 1 through 9 that has been created or attached or has been filed or recorded in the Public Records subsequent to Date of Policy and prior to the recording of the deed or other instrument of transfer in the Public Records that vests Title as shown in Schedule A. The Company will also pay the costs, attorneys' fees, and expenses incurred in defense of any matter insured against by this Policy, but only to the extent provided in the Conditions. IN WITNESS WHEREOF,FIDELITY NATIONAL TITLE INSURANCE COMPANY has caused this policy to be signed and sealed by it duly authorized officers. Fidelity National Title Insurance Company e• P• (( ?774) .,..---.- A SEAL0 ,a4 ATTEST President Secretary 0, Countersigned: 1•� _ Authorized Signature FORM 27-031-06 ALTA Owner's Policy(6-17-06)