Loading...
HomeMy WebLinkAboutProperty - Deeds/Titles - 1/9/2006, Quit Claim Deed, TOV (Grantor) to Copper Ridge Estates HOA, Parcel 224-08-3110 & 224-08-31 ,'::',',,+ .. . ,,,y, , ., 'y 47,,ap:,, �� s Office of the Pima CountyAssessor !si.,,,,::... rOFf' 115 N. Church Street „ zit 1111 t j;,:!,,,:,;,0::. s Tucson, AZ,...-..---,,..., - 8 -,,,,:...;-k....,,..,,,,,, . . ,,,,,,--.- -- ...,,,,,,. . Bill Staples Jim Crane Assessor Chief Deputy To Town of Oro Valley March 21, 2006 11000 N. La Canada Oro Valley, Az. 85737 Your Deed for Transfer Parcel Code Number —nftge i'il‘-iltiOV- Recorded on 1/9/2006 In Docket 12716 Page 1345 contains what appears to be the following error: Grantor appears to have no recorded interest in property. Current ownership for. Common Area A of Copper Ridge II is currently in Lawyers Title of Arizona Trust : . #7871-T per the recorded Map in Book 52 of Maps and Plats Page 18. . Please have your title company, attorney or surveyor verify, then correct and re- record your deed in the Pima County Recorders Office. Because of the aforementioned, we cannot process said instrument. This means that the Tax Notices will continue to be sent to the person(s) currently listed as owners on our records. If you have any questions concerning this matter, please call our Deeds Section (520) 740-4384. Or you can call our customer service desk (520) 740-8630 We regret that the Land Information Section (Deeds-Splits-Mapping) can no longer accommodate unscheduled meetings with taxpayers. JO ANN C. GLASS DEEDS/SPLITS (520) 740-4383 (520) 740-4392 fax cc: Copper Ridge Estates Homeowners Association 3801 E. Fieldstone Ln. . Tucson, Az. 85750-2078 . .z;s'iSec Olt/03/05 All o het forms s obsolet.e F. ANN RODRIGUEZ, RECORDER DOCKET: 12716 RECORDED BY: NMBv0Fpi PAGE: 1345 44 DEPUTY RECORDER � Ill C0 NO. OF PAGES: 8 1134 PE8 W ,pii; i1 �1�� d SEQUENCE: 20060050465 SOROV ; 01/09/2006 TOWN OF ORO VALLEY • QCDEED 15:25 11000 N LA CANADA 44I1014P* ORO VALLEY AZ 85737 MAIL AMOUNT PAID $ 12.50 _..J 6 ,S\\ — \‘-l '-'\ QUITCLAIM DEED \If ---'LA THIS QUITCLAIM DEED, executed this 30THday of DECEMBER 2005, between the Town of Oro Valley, an Arizona Municipal Corporation (Grantor), and Copper Ridge Estates Homeowners Association("Grantee"). WITNESSETH The Grantor, for good consideration does hereby remise, release and quitclaim unto the Grantee forever, all the right, title, interest and claim which the Grantor has in and to the following described parcel of land, and improvements and appurtenances thereto in the County of Pima, State of Arizona, to wit: See Exhibit A, Legal Description of Property DATED this 30T11day of DECEMBER , 2005. --7 GEE . � GRANTOR B �' By: ..r C%pp ff 'idge Estates II Paul H. Loomis, Mayor 7 'orneowners Association _ fr1t '/o1 i e Title i r 4‘1,,-,...:;:'',,%w1i4‘: 1, ATTEST. A 7 �Cox.ya ��J �Ij� 1��'$y45 ;• Ip ,I''.itl"w*'4' '41114';' r,, , t 4 r !.�'�4 .�r���t� 401-11:f441 r d� I X11 �' I y .,,i tib, T.. C,y .� r i4' „to ,, ,, z-4.,k 0 ,, IVi( y ,,c, ,f aJ„,£ 44, rY`Kat ECuvelier • oWnl � J ���, ��y��r'' Ti. , -„ �� � � `a4. CZ '.N'�S ��� �`. Y .. 11,1 ''''' ' :' ,:jr.:-.4.'' ' '''''+-4 Pima County Recorder Tracking#200600020 86- State of Arizona ) ) ss. County of Pima ) On this da ofC2005, J'` cL'Y known to me to be the person whose name is subscribe tote within instrument, personally appeared before me and acknowledged that he/she executed the same for the purposes contained. Given under myhand and seal this dayof , 2005. "OFFICIAL SEAL" .� -.c___ ,ti�' ►,��' G aL ____w.... _v........�. 4-4', !`4,t4 �..•• , Roxana Gm ty .. ..._� t-;:j No Public-Arizona A-Q-k ima Coun en4P/ M Commission Ex fres 1 1 i 113 iw11. u.tl 1,, di 1�4lIi un, � 1 c 1 t EXHIBIT "A" LEGAL DESCRIPTION ,III,f�N F u�ltl IIIRII I�tnR `RII� I�bl 1,11 1 d inuty, A Copper Ridge I &II Parks . - _ __ Streets v ___..,__._.________.__.______ 0 - Streets-All-With Names � z -- Streets-Major-With Names • Parcels x Parcels (Landbase) W z111‘111 . N LA TANYA DR '\. ' z /Cru, - L \\._ � ERS Nck z A)m . § 47 n =o r. 4/1/ \. SCALE 1 : 1,829 N 100 0 100 200 300 FEET .. . . . , PARCEL NUMBER 224-08-3110 2 7 if{f �l i iii + �u 1rllo 3 rim 'Id �ii� +w Id! _. �, y �•, rtiuc. a uub r-ax server No. NCS-133379-4335 EXHIBIT"A" THOSE AREAS DESCRIBED AS"RECREATION AREA",OF COPPER RIDGE II,ACCORDING OF RECORD IN THE OFFICE OF THE TO THE PLAT COUNTY RECORDER OF PIMA COUNTY,ARIZONA,RECORDED IN BOOK 52 OF MAPS,PAGE 18,'THEREAFTER DECLARATION OF SCRIVENER'S E DOCKET11474,PAGE 1167 RECORDS RROR RECORDED AS OF PIMA COUNTY AND THE R DECLARATION OF SCRIVENERS ERROR RECORDED AS DOCKET 11923,PAGE 3508,RECORDS OF PIMA COUNTY. tf i 1'INHi �^1 HHit Nail t R� �ftt VNII ta 'tum �NIINt� PARCEL NUMBER 224-08-3100 l�ifd 6 3: anµl 114 II, --- --- -• •.• vi vvv 1'aA I►7fi.[Yt'i.l r " No. NCS-1334014335 EXHIBIT"A" COMMON AREA A,OF COPPER RIDGE II,ACCORDING TO THE PLAT COUNTY RECORDER OF PIMA OF RECORD IN THE OFFICE OF THE COUNTY,ARIZONA,RECORDED IN BOOK 52 OF MAPS PAGE 18 THEREAFTER TION OF SCRIVENER'S ERROR RECORDED ' RECORDS OF PIMA COUNTY AND AS DOCKET 11474,PAGE 1167, THEREAFTER DECLARATION OF SCRNENERS ERROR RECORDED AS DOCKET 11923,PAGE 3508,RECORDS OF PIMA COUNTY. • ,N t1'kl J uuWn, R1�VIII. • 2, , TOWN OF ORO VALLEY COUNCIL COMMUNICATION MEETING DATE: December 21, 2005 TO: HONORABLE MAYOR& COUNCIL FROM: Brent Sinclair, AICP, Community Development Director SUBJECT: QUIT CLAIM DEED FOR VERCH WAY RECREATION AREA BACKGROUND: The attached Quit Claim Deed puts to rest a long-standing dispute concerning the recreation area in Copper Ridge II, between the Town, the Developer and the HOA . The purpose of the Quit Claim is to once and forever absolve the Town from any ownership or maintenance of the Verch Way Recreation area which was designed as a private HOA park from the beginning. Errors in plat filing and years of misunderstanding resulted in ongoing disputes of maintenance and ownership. To totally resolve the issue the Town, HOA and original developer reached an agreement which will result in better passive and active areas in the park that can be efficiently maintained. FISCAL IMPACT: The Town will participate in minor up-front enhancements to the park and share the costs with the developer. These are minor in nature and total less than $5,000. Upon filing of this deed, the HOA will assume responsible for all park maintenance from this point on; therefore, the result of this action will result in no future cost to the Town. SUGGESTED MOTION: The Town Council may wish to consider the following motion: I move to APPROVE the Quit Claim Deed. Community Development Director 44,ir A art Assistant Tow anager Town Manager Attachments: 1. Quit Claim Deed rant ncy y a MERCURY company r-Q >/6/ WO/ .7 (y,6 February 14,2006 TOWN OF ORO VALLEY 00260467 ATTN: WATER UTILITY 353 W.MEADOWBROOK DRIVE 11000 N. LA CANADA DRIVE ORO VALLEY,AZ ORO VALLEY,AZ 85737 Dear Valued Customer, I am pleased to provide you with your title policy which is enclosed herein. We here at Title Guaranty Agency of Arizona, Inc. thank you for your business and hope you will consider us on future transactions. If you have any questions,please do not hesitate to call this office. Yours Truly, Paul W. Johnson Chief Title Officer /cb P.O.Box 16860 • 101 N.Wilmot, Suite 100 • Tucson,Arizona 85732-6860(520)750-8100 FAX(520)750-8112(Title) • FAX(520)750-9521 (Escrow) • FAX(520)750-0016(Second Lending) „ •—,„-N. ,,..,-"7,---,. , - \,,cri*--'''.:”, ---- .---, ('Y-11,N,..0''"x,,,:, :,',;',:).c,'''-,,,,;;;;,-;:',•,' -:'-.,- ''-:.--.,,-;;•.,.!•.,i',-.,,---..,,-- ''.---..-:•'.4-.-,,;-','.; %, -.;,,,,,,- .....,..2,at,::--",... V;:,'i.:..., r,,,,,,M, 15::,,,,,,:isi? ..,,,,t,/,,,}:41, ;:,:1, ;,..!,,,,ip.1,2,/,',44:,,,„::tvi,:„?,„.,,,,.,,i,,,,4,,t,„:,,--.,2,,,,:,,, .t.,,,,y.-,„,„::',1) ‘,,:kiit(s(:,"':,:'f,'f'.;''.,' `.'-*.i*41,,,,,,71.41,14.:: :.4'gi.litl..`",v,;:#1',1,;:!•:.:t';'''',:`414,7V- 1)'9 '';‘''' r '7 ' l''' .'t.''''' '.1,.,;''' "':•:' '' Pi7 ''".'.•. :::':.,,i,4%, .,,,:-.,,, ,.. ,, 1 1 4,14N \\ Y '.--- **--•:,,:i'. :.,;k1,-..,,,:.\ '' 1" '-.. -.) 7/92) •-, . - Policy'1 .44 #260467-0 .' o.,,r11/ '7`,-*O''' ALTA Owner's Policy''''').''''Ir POLICY OF TITLE INSURANCE . ., .Cli s A M E R 1TITLE GUARANTY AGENCY OF ARIZONA,INC. c1101 North Wilmot Road Suite 235 S.1 \+ 1 Tucson'AZ 8571 2-51 59 (520)017-801 6 Fax:(520)750-8112 ...„<r-,...- 0 Agent For First American Title Insurance Company 0 oty a.q . , First American Title Insurance Company kr 44Z tx 441.i it(•A,.7::,, ',t4i.'•„, •47#t •'.O.4 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: I;'''',.:tt.ii IlL'f-ii-. Sir* 1. Title to the estate or interest described in Schedule A being vested other than as stated therein; ( -44,0i 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. 10 , ':., .:114..4 kaki;: The Company will also pay the costs, attorneys'fees and expenses incurred in defense of the title, as insured, but 1. only to the extent provided in the Conditions and Stipulations. .. . * , A. 1 ,,,, J% is, ,,-r: 'ill) ,...-I. ....: 4test. 110 ..,, AO,, w,.....,,,,i: I ' (144 ' *,,, 0. ,.",,,• (. c.vo, ( 0 ) t,to 41 -,,,,o--(0r• First American Title Insurance Company .,..,:::::,.2.-...;'...--c.,...:,..:„.:::..r......,,,.., :.,. „ .. .. . .,,,, ..,....., -...,....,,......: :.: .. .....,- . - . ,..,,,,I .i.:.,,,,..•.,......::,..,:,..,,,t,:„.:...,..,..k......., ., . .. . PR BY SIDEN 4/ • , ,..-or ,..,,,„,.....,..„.„:„..:..„...,.,...,„...... ......,::. .. . ET • •,:::::-..*:..•.:•:..i.:::::......--.::.st: .... :.. ........,- ,..„...... 4:...,...-.:,....... ..::.,... ,. . .. . .,. :::.. • ....- .: .. .. . .: ,. . ...., .. ,. . .....„,-. • . .. •. , ,..., , .$...„. ......:,,„ ......, .... . , ... .,..., :„..:. ...„.......,.......,..- ......, .. . . SECRETARY -.:...;,..:.::!..i::,::.?:::::•:,..c.:::!,i',.:::::,....„..,..,•,,..'.., i,,......,?:-.....,,:::::::.::::... , .;.:i. ...:::.,.:....,,.,,,,,,,i,iN) v'f.•-d;:lii.74,1 j irr-wittly •.-. -"'::..;':.:*..:::•)...,..' ' -. :. . ,. '- 'd i' ..,,'•'.;:iC''‘'''71'1'.ci'%4,,'''''''''''*' (-4) 11/4I::,;:(:;Tlf:.'i-„;,i40'7v.11i7,,ti,i,,-.i,,,i,f,•V,T,i,t,,k,,,4,!,!„4.1."-:,*L,i-,As-itf,w.,,i.7t-4,n:its1.#i:.0.,:r...,,i,,ft.,:r,, A ;2P, „-„1t4.11,4k0,.,.„V'2,,IvP,,.'.I.4O,.,.Vf•V,,,..;.OW,..i,,..:...41`,6,#':4..;:i , .g:,,_ ',"' ii,,,,,.-::,11,N..: ::,,,.,,...„•.::::'„:u:....'_..'..,.....•.:••:,:',,...i.,;:i,.:,,..,.”,:' ',......:....' , 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. al Any law ordinance or governmental regulation on(includingbut not limited to buildingand zoning laws ordinances or regulations)rptrlctingregulating prohibiting , ,$ or relating to�3the 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 anyarcel ofwhich the: land is or was a art;or(iv)environmental pR protection, or the effect of any violation of these laws,ordinances or governmental regulations,except to the extent that a notice of the enforcement thereof or a notice of a defect, lien or encumbrance resulting from a violation or alleged violation affecting the land has been recorded In the public records at Date of Policy. (b)Any governmental police power not excluded by(a)above,except to the extent that a notice 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. 2. Rights of eminent domain unless notice of the exercise thereof has been recorded in the public records at Date of Policy,but not excluding from coverage any taking which has occurred prior to Date of Policy which would be binding on the rights of a purchaser for value without knowledge. 3. Defects,liens, encumbrances, adverse claims or other matters: (a)created, suffered,assumed or agreed to by the insured claimant; b not known to the Company,an not recorded in the public records at Date of Policy,but known to:the insured claimantand i � � P Y� , t� Y, not disclosed in writing:to the Company by the insured claimant prior to the date the insured claimant became an insured under this policy; (c)resulting in no loss or damage to the Insured claimant; (d)attaching or created subsequent to Date of Policy; or (e)resulting in loss or damage which would not have been sustained if the insured claimant had paid value for the estate or Interest insured by this policy. 4. Any claim,which arises out of the transaction vesting in the Insured the estate or interest insured by this policy,by reason of the operation of federal bankruptcy, state insolvency, or similar creditors'rights laws,that is based on: (i) the transaction creating the estate or interest insured by this policy being deemed a fraudulent conveyance or fraudulent transfer; or (ii)the transaction creating the estate or interest insured by this policy being deemed a preferential transfer except where the preferential transfer results from the failure: (a) to timely record the instrument of transfer; or (b) of such recordation to impart notice to a purchaser for value or a judgment or lien creditor. CONDITIONS AND STIPULATIONS 1. DEFINITION OF TERMS. by this policy which constitutes the basis of loss:or damage for any loss or damage caused thereby: and shall state,to the extent Possible,the basis of calculating . The:followingterms when used in this clic mean: � the amount of the loss or damage. I 'e (b) In the event of any litigation,including litigation by Policyf th Company is Company or with the Company's consent,the Company a "insured":the insured named in Schedule- and prejudiced by the failure of the insured claimant to provide the � } A, f : shall have no liability for loss or damage until there has been subject to rights or defenses the Company would have required proof of loss or damage,the ompanys obligations' any 9 R Y a final. determination by a court of competent{urisdictioit, had against the named insured those who succeed to to the insured under the policy shall terminate,Including any'' 9the ,. . ;;. and disposition of all appeals therefrom,adverse to the title interest of the named insured by operation of law as liability or obligation to defend,prosecute,or continue any as insured; distinguished from purchase including,but not limited to, litigation,with regard to the matter or matters requiring such i.. of loss or (c) The Company shall not be liable for loss or heirs,distributees,devisees,survivors,personal representa- proofdamage. ;damage to any insured for liability voluntarily assumed by the tives,next of kin,or corporate or fiduciary successors. In addition, the insured claimant may reasonably be . required to submit to examination under hath by., any insured in settling any claim or suit without the prior written (b) "insured claimant":an insured claiming loss or consent of the.Company. damage. authorized representative of the Company and. shall produce, for examination,inspection and copying,at such reasonable: (c) "knowledge"or"known":actual knowledge,not timesand designated10. itlCTt+ N INSUNANCE;ItttUCTfQI Dlt places as may be by any authorized constructive knowledge or notice which may be imputed toTER IN TI N DF LIABILITY• representative of the Company,all records,books,ledgers, an insured by reason of the public records as defined in this checks correspondence ondence and memoranda,whetherbearing . Ret a.. , clic or anyother records which impart constructive noticeAll pa ents under this olio,exoe t' a ments made policy p date I afore or after Date of Policy,w ch reasonably pertain p R Y R R y of matters affecting the land. to the loss:or damage,Further,if requested by any'authorized: for'costs, attorneys fees and expenses, shall'reduce the (d) "land": the land described or referred to in representative of the Company,'the insured claimant shall amount of the insurance pro tanto. Schedule(A),and improvements affixed thereto which by law grant its permission, in writing, for any authorizedrep- constitute real property.The term"land"does not include any resentative of the Company to examine,Inspect and copy all 11. LIABILITY NONCUMULATIVE. property beyond the lines of the area described or referred records,books,ledgers,checks,correspondence andmem inIt is expressly understood that the Amount of In- to Schedule (A), nor any right, title, interest, estate or oranda in the custody or control of a third party which • • R, surance under this policy shall be reduced by any amount the easement in abutting streets,roads,avenues,alleys,lanes, reasonably pertain to the loss or damage.All'information waysor waterways, n thi herein R Ocompany may pay under any policy insuring:a m©rtgage to but nothingshall modify or limit designated as confidential by the insured claimant provided • the extent to which a right of access to and from the land is which exception is taken in Schedule B or to which the gto the Company pursuant to this Section shall not be Insured has agreed,assumed,or taken subject,or which Is insured by this policy. disclosed to others unless,in the reasonable judgment of the hereafter executed by an insured and which i a charge or (e) "mortgage";mortgage,deed of trust,trust deed, Company,it is necessary in the administration of the claim: s fi or other security instrument. Failure of the Insured claimant to submit for examination lien on the estate or interest described or referred to in „. under oath,produce other reasonably requested information Schedule A, and the amount so paid shall be deemed a (f) "public records":records established under state payment under this policy to the Insured owner. statutes at Date of Policy for the purpose of imparting or grant permission to secure reasonably necessary infonna= tion from third parties as required.in this paragraph,unless constructive notice of matters relating to real property to p g 12, PAYMENT OF LOSS, purchasers for value and without knowledge.With respect to prohibited by law or governmental regulation,.shall terminate: Section 1 a iv of the Exclusions From Coverage, 'public any liability of the Company under this policy as to that claim. ( )( } � , (a) iso payment shall be made without producing this records"shall also incude environmental protection liens filed policy or endorsement of the payment unless the policy has. 6, OPTIONS TO.PAY OR OTHERWISE SETTLE CLAIMS; p R Y P Y in the records of the clerk of the United States district court been lost or destroyed, in which case proof of loss or for the district in which the land is located. TERMINATION OF LIABILITY, destruction shall be furnished to the satisfaction of the (g) "unmarketability of the title": an alleged or In case of a claim under this policy,the Company shall' Company. apparent matter affecting the title to the land,not excluded or have the following additional options. (b) When' liability and the extent of loss or damage has excepted tram coverage,which would entitle a purchaser of been definitely fixed in accordance with these Conditions and the estate or interest described in Schedule A to be released (a) To Pay or Tender Payment of the Amount of stipulations,the loss or damage shall be payable within 30 from the obligation to purchase byvirtue of a contractual Insurance. 9 days thereafter. condition requiring the delivery of marketable title. To pay or tender payment of the amount of insurance under this policy together with any costs,attorneys'fees and 13, SUBROGATION UPON PAYMENT 2. CONTINUATION OF INSURANCE AFTER expenses incurred by the insured claimant, which were OR SETII.EME T. CONVEYANCE OF TITLE. authorized by the Company,up to the time of payment or tender of payment and which the' Company is obligated to (a) The Company's Right of Subrogation, The coverage of this policy shall continue in force as pay: Whenever the Companyshall have settled and paid a Updn the exercise by the ComPany of this option,ail of Date of Policy in favor of an insured only so icing as the .. . . claim liability and obligations under this policy,all right of subrogation shall vest in insured retains an estate or interest in the land,or holds an a .tyr a d obl,gat ons to the insured under this policy,other � ,, the Company.unaffected byany act of the insured claimant, than:to make the ai.rr.nt ui t including indebtedness secured R Y a req red,shall terminate,no uding n s cure by a purchase money mortgage.given .Thea::Company shall be subrogated toand be entitled toall an liability or obligation c� � �' 04. tri e by a purchaser from the insured, or onlyso longas the y fga t defend,.prosecute,or continuo .. _ :, :rights and remedies which the insured claimant would have .. $n ell ati�an and the olio boli be surrendered :o insured shall have liability by reason of covenants of warranty y g P Y nd t the had against anypersoneor propertyIn respect to the claim made by the insured in any transfer or conveyance of the Company for cancellation, had this policy not een issed.If reuested by the Company. i&au u na Nuu4y i Kit ueei i issueu.ti i equesteu Uy tttU tiutitpwiy, estate or interest.This policy shall not continue in force in (b) To Pay or Otherwise Settle With Parties Other than the insured claimant shall transfer to the Company all rights favor of any purchaser from the insured of either(i)an estate the Insured or With the Insured Claimant . and remedies against any person or property necessary in or interest in the land,or(ii)an indebtedness secured by a (i) to pay or otherwise settle with other parties for order to perfect this right of subrogation. The insured purchase money mortgage given to the insured. or in the name of an insured claimant any claim insured claimant shall permit the Company to sue,compromise or against under this policy,together with any costs,attorneys settle in the name of the insured claimant and to use the name 3. NOTICE OF CLAIM TO BE GIVEN BY fees and expenses Incurred by the insured claimant which of the insured claimant in any transaction or litigation INSURED CLAIMANT. were authorized by the Company up to the time of payment involving these rights or remedies. and which the Company is obligated to pay;or If a payment on account of a claim does not fully cover The insured shall notify the Company promptly in (ii) to pay or otherwise settle with the insured the loss of the insured claimant, the Company shall be writing(i)in case of any litigation as set forth in Section 4(a) claimant the loss or damage provided for under this policy, subrogated to these rights and remedies in the proportion below (ii) in case knowledge shall come to an insured together with any costs, attorneys' fees and expenses which the Company's payment bears to the whole amount hereunder of any claim of title or interest which is adverse to incurred by the insured claimant which were authorized by the of the loss. the title to the estate or interest,as insured,and which might Company up to the time of payment and which the Company If loss should result from any act of the insured cause loss or damage for which the Company may be liable is obligated to pay. claimant,as stated above,that act shall not void this policy, by virtue of this policy,or(iii)if title to the estate or interest, Upon the exercise by the Company of either of the but the Company,in that event,shall be required to pay only as insured,is rejected as unmarketable.If prompt notice shall options provided for in paragraphs (b)(i) or(ii),the Com- that part of any losses insured against by this policy which not be given to the Company,then as to the insured ail liability pany's obligations to the insured under this policy for the shall exceed the amount, it any, lost to the Company by of the Company shall terminate with regard to the matter or claimed loss or damage,other than the payments required to reason of the Impairment by the insured claimant of the matters for which prompt notice is required; provided, be made,shall terminate,including any liability or obligation Company's right of subrogation_ however,that failure to notify the Company shall in no case to defend,prosecute or continue any litigation. (b) The Company's Rights Against non-Insured eprejudice the rights of any insured under this policy unless Obligors. thCompany shall be prejudiced by the failure and then only 7. DETERMINATION,EXTENT OF LIABILITY The Company's right of subrogation against non- to the extent of the prejudice. AND COINSURANCE. insured obligors shall exist and shall include, without 4. DEFENSE AND PROSECUTION OF ACTIONS; This policy is a contract of indemnity against actual limitation,the rights of the insured to indemnities,guaranties, DUTY OF INSURED CLAIMANT TO COOPERATE. monetary loss or damage sustained or incurred by the other policies of insurance or bonds, notwithstanding any terms or conditions contained in those instruments which insured claimant who has suffered loss or damage by reason (a) Upon written request by the insured and subject to of matters insured against by this policy and only to the extent provide for subrogation rights by reason of this policy. the options contained in Section 6 of these Conditions and herein described. 14. ARBITRATION. Stipulations, the Company, at its own cost and without (a) The liability of the Company under this policy shall unreasonable delay, shall provide for the defense of an not exceed the least of: Unless prohibited by applicable law,either the Com- insured in litigation in which any third party asserts a claim (i) the Amount of Insurance stated in Schedule A; pany or the insured may demand arbitration pursuant to the adverse to the title or interest as insured,but only as to those or Title Insurance Arbitration Rules of the American Arbitration stated causes of action alleging a defect, lien or en- ii the difference between the value of the insured Association. Arbitrable matters ma include, but are not cumbrance or other matter insured against by this policy.The estate or en- (ii) as insured and the value of the insured estate y Company shall have the right to select counsel of its choice or interest subject to the defect,lien or encumbrance insured limited to,any controversy or claim between the. Company (subject to the right of the insured to object for reasonable against by this policy. and-the insured arising out of or relating to this policy,any service of the Company in connection with its issuance or cause)to represent the insured as to those stated causes of action and shall not be liable for and will not pay the fees of (b) In the event the Amount of Insurance stated. in the breach of a policy provision or other obligation. All .pay any fees,costs Schedule A at the Date of Policy is less than 80 percent of arbitrable matters when the Amount of Insurance is any other counsel.The Company will not or expenses incurred by the insured in the defense of those the value of the insured estate or interest or the full $1,000,000 or less shall be arbitrated at the option of either consideration paid for the land, whichever is less, or if the Company or the insured.All arbitrable matters when the causes of action which allege matters not insured against by subsequent to the Date of Policy an improvement is erected Amount of Insurance is in excess of$1,000,000 shall be this policy. on the land which increases the value of the insured estate arbitrated only when agreed to by both the Company and the (b) The Company shall have the right,at its own cost, or interest by at least 20 percent over the Amount of insured. Arbitration pursuant to this policy and under the to institute and prosecute any action or proceeding or to do Insurance stated in Schedule A,then this Policy is subject to Rules in effect on the date the demand for arbitration is made any other act which in its opinion may be necessary or the following: or,at the option of the insured,the Rules in effect at Date of desirable to establish the title to the estate or interest, as (i) where no subsequent improvement has been Policy shall be binding upon the parties. The award may insured, or to prevent or reduce loss or damage to the made,as to any partial loss,the Company shall only pay the include attorneys'fees only if the laws of the state in which insured.The Company may take any appropriate action under loss pro rata in the proportion that the Amount of Insurance the land is located permit a court to award attorneys'fees to the terms of this policy, whether or not it shall be liable at Date of Policy bears to the total value of the insured estate a prevailing party.Judgment upon the award rendered by the hereunder,and shall not thereby concede liability or waive or interest at Date of Policy; or (ii) where a subsequent Arbitrators)may be entered in any court having jurisdiction any provision of this policy.if the Company shall exercise its improvement has been made, as to any partial loss, the thereof. rights under this paragraph,it shall do so diligently. Company shall only pay the loss pro rata in the proportion that The law of the situs of the land shall apply to an (c) Whenever the Company shall have brought an 120 percent of the Amount of Insurance stated in Schedule arbitration under the Title Insurance Arbitration Rules. action or interposed a defense as required or permitted by the A bears to the sum of the Amount of Insurance stated in A copy of the Rules may be obtained from the provisions of this policy, the Company may pursue any Schedule A and the amount expended for the improvement. Company upon request. litigation to final determination by a court of competent The provisions of this paragraph shall not apply to jurisdiction and expressly reserves the right, in its sole costs,attorneys'fees and expenses for which the Company 15. LIABILITY LIMITED TO THIS POLICY; discretion,to appeal from any adverse judgment or order. is liable under this policy,and shall only apply to that portion POLICY ENTIRE CONTRACT. (d) In all cases where this policy permits or requires of any loss which exceeds,in the aggregate,10 percent of the Company to prosecute or provide for the defense of any the Amount of Insurance stated in Schedule A. (a) This policy together with all endorsements,if any, action or proceeding, the insured shall secure to the (c) The Company will pay only those costs,attorneys' attached hereto by the Company is the entire policy and Company the right to so prosecute or provide defense in the fees and expenses incurred in accordance with Section 4 of contract between the insured and the Company.In interpret- action or proceeding,and all appeals therein,and permit the these Conditions and Stipulations. ing any provision of this policy,this policy shall be construed Company to use,at its option,the name of the insured for this as a whale, purpose.Whenever requested by the Company,the insured, 8. APPORTIONMENT. (b) Any claim of loss or damage, whether or not at the Company's expense shall give the Company all based on negligence,and which arises out of the status of reasonable aid (i) in any action or proceeding, securing If the land described in Schedule(A)(C)consists of two the title to the estate or interest covered hereby or by any evidence,obtaining witnesses,prosecuting or defending the or more parcels which are not used as a single site,and a loss action asserting such claim,shall be restricted to this policy. action or proceeding,or effecting settlement,and(ii)in any is established affecting one or more of the parcels but not all, (c) No amendment of or endorsement to this policy other lawful act which in the opinion of the Company may be the loss shall be computed and settled on a pro rata basis as can be made except by a writing endorsed hereon or attached necessary or desirable to establish the title to the estate or if the Amount of insurance under this policy was divided pro hereto signed by either the President,a Vice President,the interest as insured.If the Company is prejudiced by the failure rata as to the value on Date of Policy of each separate parcel Secretary, an Assistant Secretary, or validating officer or of the insured to furnish the required cooperation, the to the whole, exclusive of any improvements made sub- authorized signatory of the Company. Company's obligations to the insured under the policy shall Sequent to Date of Policy, unless a liability or value has terminate, including any liability or obligation to defend, otherwise been agreed upon as to each parcel by the 16. SEVERABILITY prosecute,or continue any litigation,with regard to the matter Company and the insured at the time of the issuance of this or matters requiring such cooperation. policy and shown by an express statement or by an In the event any provision of the policy is held invalid endorsement attached to this policy, or unenforceable under applicable law,the policy shall be 5. PROOF OF LOSS OR DAMAGE. deemed not to include that provision and all other provisions 9. LIMITATION OF LIABILITY shall remain in full force and effect. In addition to and after the notices required under Section 3 of these Conditions and Stipulations have been (a) If the Company establishes the title,or removes the 17. NOTICES,WHERE SENT. provided the Company,a proof of loss or damage signed and alleged defect,lien or encumbrance,or cures the lack of a sworn to by the insured claimant shall be furnished to the. right of access to or from the land, or cures the claim of m notices required to be given the Company and any statement Company within 90 dabs after the insured claimant shall unmarketability of title,all as insured,in a reasonably diligent in writingrequired to be furnished the Company shall include the ascertain the facts giving rise to the loss or damage.The manner by any method,including litigation andthe comple- number of this policy and shai be addressed to the Company at proof of loss or damage shall describe the defect in,or lien tion of any appeals therefrom,it shall have fully performed its I First American way,Santa Ana,California 9.2707,or to the office or encumbrance on the title,or other matter insured against obligations with respect to that matter and shall not be liable which issued this policy. .„----;7-. ,---,- .,,,,,,,,,2\--, r" W,, ,,-33;)'4*'.A.,*4:'1/.4' 4-1%Ai.,/•,‘'4'.4-•k'rt,AV-!1..0-•41.4,4—,4'.11"s*.1I•4tV,A,:i,1t0*ig,t,i4;N-•4.,A;l.,,,,.0it;.,t,::-i42.1,0l1k,A:,ti.-1l,"ik.,.iO.l,t•l:*itP,A;.r,.:.#*-4t,4l'i.k,A1...,,-.1411401.141.t.4•°.,.;.- -1k4.,-';,-'o-.',-•,l,-,:ls''i':.-‘t--'1i,.711k4-Ar,-1a.,1A4'9 t'Al44,-'0l°,4k,,:.,kA.4:1A,444*;;14;‘, P. 4';1,:4,,,1.1--.4'1t"V17\t''';.,--:•',,'',i I' 7-:.:47,.''. / - A M F /:?. ....._ _ - -....,•. 'AN.' -=, r-sc -i 1 : s ... .• - '4,,L, ,-,,•",,,, , cl ..., ._ ,. =.44=r 1 e„,'\'t 1, .4.. 1% •._, ,L,ilr. ,..'JO .it ......t.„ , 'IQ, , <•13-... :, - 4110*" '''''' .- •.i, ..,,, 4/)* ,.:... . -.',.. 104 ye".".0.,`„,, - Z.-.•,:-',"'..,- .... . _ -., _•, 16) '''. `*-._-•4 , _. . , '''444k4.\\., ,,,,, 41t,i7. -- )91:‘, ,,-;,,,„;::,.• .,-:::-:-:;: ..:4471' 4...),, -...., \\ ._, ,. y ..,.......i=p- ,,,,--,, - ,-,•.:!,,,,,,- IP . .. . , iw `,..'.-.„ ,..."Sq -,,,_ :: -....•,.....:'--.,.-•- '=, - = ' ...-1 . "., (ii'7""*". . -.' ..---- -- . ,-. - ' ,s, ,,,,:,-;1,, 7---".-?----I--. 2.-...:,. ..---' - "Nao. ,..1-t: -,,,..'-.. 7 -.ay ,,,,_. . ...,.,.,,..-_„,,„„,,..„---.7-,-.,„,..,...,.--- .. . , -.._ _-._ -,--,-.----,_ ..,-...-.7-----,7----:-,,,,---,-;-,-,-:,---,--,-_:--,,,,.,:z,i..,..,r,',7;•G::.:L-:-,•-•-,-----.,...:-...,,,-7,-.7-_-:-....,_,...,...-_-_,,,,.....-z...~.t.,,,,,..-:-:....,:::',..-•••-,-:,...---.--,..-,.........:-:...'''''f I'l : ' . ' ', '1:--;,,,- ,,. ,. • .:::,.. .14 s;„ - 0 • la -'.- i ---.. First American Title Insurance Company -,,,-- .- ,--,- , , . -- '4=7; -----. -Siii,„...... -,._,--7.7.1-,-74,011).C;pril, •'-•- -..-, . 04,,,,a Pk ,..• - * '"--- ,....-. 10 -, . mu! POLICY . ..,,,, _„,,,...-...„ --it ,•E , .,.._. ;,- / OF ..- ,,-,,i,..• TITLE INSURANCE . ., •, ..., *i$ 9 le.... : SEPTEMBER 24. - $ .- (Pr ,:pc t ,A A V. ''a.•. ..'' .0, ,. , . „ . . . .. .. , .. ., ,.. .. . . •iiii •ir ' ( 'IF V ' *;•''' 0.' ' V ' "." 1,-;,"...•, •......- 11.1* itrieltirti V4 'eV* lipAllir ' 'IWO • ir" # AO' vikt, Air - v$ /I''';':1:11.''''''''''').. AA,.- ,,,,,,", .•"'„F:..„4„,_ '...-,' ''illirrAllir .3:4 :lir .„,,, ' , • ' ' •,,,,, ',,., ...A ,4., .,. 4, -1- ', $.4- Nt.".,.., ' ....•• 4 - , ...:-4,„,,,,,,.,- .,,:-..,._,...,,,T.' ' - ,_.,_,,',.\\ , .;''.":" '-' ,/,':;:.';'7.4. 'P.'':.' ...,t.,,,WNV'i'-7;., ,..7,-..,,.. '',!`..-',' '‘,,,,,...s."..:Zee:,,,,,,,,T-.4? ., ...,''',*,,`"P_ i,....1-44.. •,}-1'.''' ''''it,'":'/Z:v;;--(i'l.,::;•''''',-,.''''; '.4,....i.' t,,,, 40,-**7 ,..,-..'... ',,,,...,,,.., ,(:::.,--,;,,4, .,:,,,:.,-. ,i;',.."',--:,!•:;/,;,-. ,,,,,, <,;. '''.,. .4,., ,4.i.:, . • ., . ..:,,„,'":',1.-, -----------------------------------=-- .0,-.......--........-,....—...„..------ ' - ' -....:—.. - - ' -4..„.‘,;;S,',.:, ,• --,,:.;,,C -N---,/ \s•-•::::7'-----'s- FIRST AMERICAN TITLE INSURANCE COMPANY OWNERS POLICY SCHEDULE A Date of Policy: March 22,2005 Policy No.: 260467-0 Sequence Number: 20050550751 File No.: 00260467-BDM Fee Amount: $620.00 Amount of Insurance: $198,212.00 1. Name of Insured: TOWN OF ORO VALLEY,an Arizona municipal corporation 2. The estate or interest in the land which is covered by this policy is: FEE 3. Title to the estate or interest in the land is vested in: TOWN OF ORO VALLEY,an Arizona municipal corporation 4. The land referred to in this policy is described as follows: See Exhibit A attached hereto and made a part hereof SCHEDULE A ALTA Standard Coverage Policy This policy is only valid if Schedule B is attached b Exhibit A Lot 73 of SHADO W MOUNTAIN ESTATES, as shown by map recorded in Book 13 of Maps and Plats at Page 75, Pima County, Arizona; Except all coal and other minerals as reserved in the Patent from the United States of America. FIRST AMERICAN TITLE INSURANCE COMPANY Policy No: 260467-0 File No.: 00260467-BDM SCHEDULE B PART I This policy does not insure against loss or damage,nor against costs, attorneys'fees or expenses, any or all of which arise by reason of the following: Part One: 1. Taxes or assessments which 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. Proceedings by a public agency which 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. 2. Any facts, rights, interest or claims which are not shown by the public records but which could be ascertained by an inspection of the land or by making inquiry of persons in possession thereof. 3. Easements, liens or encumbrances, or claims thereof, which are not shown by the public records. 4. Discrepancies, conflicts in boundary lines, shortage in area, encroachments, or any other facts which a correct survey would disclose, and which are not shown by the public records. 5. (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 aforementioned matters excepted are shown by the public records. 6. Any lien, or right to a lien, for services, labor or material theretofore or hereafter furnished, imposed by law and not shown by the public records. END OF SCHEDULE B PART I SCHEDULE B ALTA Standard Coverage Policy This policy is only valid if Schedule B is attached FIRST AMERICAN TITLE INSURANCE COMPANY Policy No.: 260467-0 File No.: 00260467-BDM SCHEDULE B PART II This policy does not insure against loss or damage by reason of the following: 1. Taxes for the year 2005, not yet payable. 2. Easements and any other matters as shown on the recorded plat of said subdivision. 3. An easement for communication facilities, and rights incident thereto, recorded in Docket 1507 at Page 54. 4. Covenants, conditions, restrictions and easements recorded in Docket 1414 at Page 147 and amended in Docket 1788 at Page 103; omitting any covenants or restrictions based on race, color, religion, sex, handicap, familial status, or national origin, unless and only to the extent that said covenant (a) is exempt under Chapter 42, Section 3604 of the United States Code or (b) relates to handicap but does not discriminate against handicapped persons. END OF SCHEDULE B PART II SCHEDULE B-PART II ALTA Standard Coverage Policy This policy is only valid if Schedule B is attached