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HomeMy WebLinkAboutProperty - Deeds/Titles - 10/06/2004, Warranty Deed, Vistoso Partners, LLC (Grantor) to TOV, Verde Ranch - Glover Road Deed F. ANN RODRIGUEZ, RECORDER DOCKET: 12402 RECORDED BY: J_V 8,01V14,4 PAGE: 5 616 DEPUTY RECORDER lipoor 0 NO. OF PAGES: 3 4437 PE3 ' . z SEQUENCE: 20041940914 TFATI �1 0 �°�' �� 10/06/2004 '� WTDEED 16:40 TOWN OF ORO VALLEY 1-101014t* 11000 N LA CANADA DRIVE ORO VALLEY AZ 85737 MAIL AMOUNT PAID $ 10.00 Oro Valley,AZ 85737 OCT 28'PAPMI2:51 IO WARRANTY DEED File No. 231-4286470 (jas) Exempt per A.R.S. 11-1134 A-3 For the consideration of TEN AND NO/100 DOLLARS, and other valuable considerations, I or we, Vistoso Partners, L.L.C.,an Arizona Limited Liability Company, the GRANTOR does hereby convey to Town of Oro Valley, the GRANTEE the following described property situate in Pima County,Arizona: PARCEL NO. 1: THAT PORTION OF THE SOUTH HALF OF THE NORTHWEST QUARTER OF THE NORTHWEST QUARTER, SECTION 22,TOWNSHIP 11 SOUTH, RANGE 13 EAST OF THE GILA AND SALT RIVER BASE AND MERIDIAN, PIMA COUNTY,ARIZONA, DESCRIBED AS FOLLOWS: BEGINNING AT THE SOUTHEAST CORNER OF SAID SOUTH HALF OF THE NORTHWEST QUARTER OF THE NORTHWEST QUARTER; THENCE SOUTH 89 DEGREES 57 MINUTES 10 SECONDS WEST,ALONG THE SOUTH LINE OF SAID SOUTH HALF,A DISTANCE OF 392.15 FEET; THENCE NORTH 41 DEGREES 21 MINUTES 45 SECONDS EAST, 592.63 FEET TO A POINT ON THE EAST LINE OF SAID SOUTH HALF; THENCE SOUTH 00 DEGREES 04 MINUTES 08 SECONDS EAST,ALONG SAID LINE A DISTANCE OF 444.47 FEET TO THE POINT OF BEGINNING. PARCEL NO. 2: TRAIL EASEMENT OVER THE EAST 20.00 FEET OF THE NORTHWEST QUARTER OF THE NORTHWEST QUARTER OF SECTION 22,TOWNSHIP 11 SOUTH, RANGE 13 EAST OF THE GILA AND SALT RIVER BASE AND MERIDIAN, PIMA COUNTY,ARIZONA. 4, Subject To: Existing taxes, assessments, liens, encumbrances, covenants, conditions, restrictions, rights of way and easements of record. And the GRANTOR binds itself and its successors to warrant the title as against its acts and none other, subject to the matters set forth. DATED: September 20, 2004 • A.P.N.: 219-15-0070 Warranty Deed - continued File No.: 231-4286470(jas) Vistoso Partners, L.L.C., an Arizona Limited Liability Company By: Brandon Wolfswinkel, Manager 1 111 h1�1 1'9 .�f II 1 1� A.P.N.: 219-15-0070 Warranty Deed - continued File No.: 231-4286470(jas) STATE OF � )ss. County of ) On 4.20 , , before me, the undersigned NotaryPublic, personally appeared Bra don Wolfswinkel, personally known to me (or proved to me on the basis of satisfactory evidence)to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies) and that his/her/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. /0/1.440"7-- My Commission Expires: Notary Pub is fif- 743.-OS— , ,�,,,,,:�t„,, NOTARY PUBLIC r STATE OF ARIZONA '' MARICOPA COUNTY '.+41;"? KARLA WILSON My Commission Expires Nov.28,2005 I U ro iti I I i Docket: 12402 Page: 5616 Date Recorded: October 6,2004 4:40PM Sequence: 20041940914 Customer Code: TFATI Operator Code: 4437 Instrument Type: WARRANTY DEED Affidavit: •2 . - No. of Pages: 3 Affi/Exem Code: NA3 Add/Chg Date: October 6,2004 4:40PM Show Grantors/Grantees Show Cross References Comments?ID Docket Page Last Name First Name T/F 12402 5616 VISTOSO PARTNERS LLC F 12402 5616 ORO VALLEY TOWN OF T Comments?E S JA First American First American Title Insurance Company 4801 East Washington Street, Suite 150 a.; 2$0_4 r 1:F3 I Phoenix,AZ 85034 602-685-7840 / Fax 602-685-7848 Town of Oro Valley 11000 N. LaCanada Drive Oro Valley,AZ 85737 October 19, 2004 Contact: Policy Department Phone: 602-685-7840 Order Number: 231-4286470 Property: Vacant Land Oro Valley,AZ Attached please find the following item(s): Policy of Title Insurance Thank you for your confidence and support. We at First American Title Insurance Company maintain the fundamental principle: Customer First! First American Title Policy No.231-4286470 a,, , i '''''' '''''' QA«;'''' �.Y MtSKIrh ''' >Y.i ' '''''f. 'H.' Mt•W ./D"" .i""'•'' `1jP"t WY ''' Vz�N. :,,,. ,, �.,g�,,Yt, .ae,,*_ �. -,yf, ,+r , u- o;,�: �.."'y; w y." ax",.'o,�,. xv .r,�"'a,;"x�"" •�,x,� ^ n+,y'_ "'' >. �,,,, „s � v,,• q �r '�vc;�...Y�'N S . j >av 'B- 4 �o HS. 4.' f> N11- :flJ �Alr• ABA �'y is -., k ..� r ikq' ,, '4. 4-ii *7 y 5 2 �3 Y �y'.po'a� fi ,q�� �k .. .�� ���.� SAF R„, � },ii „,,,,,t, °%”" .. Form No. 1402.92 .. 2 4 4 ` fir (10/17/92) s'4� :iii, % . ALTA Owner's Policy Q �,. " POLICY OF TITLE INSURANCE ,.., , . ‘3.- , °„ ,...1,..i, D" .., 1 ,,,,, : ,,,,,, ,,, , ISSUED BYa�,,. , td ; �. eFirst American Title Insurance Companyf o i ,. d t ,• SUBJECT TO THE EXCLUSIONS FROM COVERAGE,THE EXCEPTIONS FROM COVERAGE 4,,,,,, ?, -414 CONTAINED IN SCHEDULE B AND THE CONDITIONS AND STIPULATIONS FIRST - a A AMERICAN TITLE INSURANCE COMPANY,a California corporation,herein called the Company,/may„, . insures,as of Date of Policyshown in Schedule A,against loss or damage,not exceedingthe Amount � i ` g g � �A rtD. °° of Insurance stated in Schedule A,sustained or incurred by the insured by reason of: 4 =sem, "� 1. Title to the estate or interest described in Schedule A being vested other than - D K/ � as stated therein; ,, D� 2. Any defect in or lien or encumbrance on the title; a . tt....'„,),>. 3. Unmarketability of the title; ,a 1'„2",,,,,-4 4. Lack of a right of access to and from the land. The Company will also paythe costs,attorneys'fees and expenses incurred in defense of the title,as M y paD insured,but only to the extent provided in the Conditions and Stipulations. �A : R N i.'-144> , +et):,°( x to r ? ' R N: AFi First Title insurance company ,:' i 44 a ES T #0/2 7 , { ! "P ::, , ,,,- ATTEST 11;4,4 47-2_,,,,,,,e,,,,„,-- SECPliTARY '"''''' -4-,, . .,,t- 4 p s ,l 9 , 0 47 s,'” lioi:::,, .q V rI'> FS ,Y 9 ,2 z tit y } 0.' ,',..!,?:',,,,,, '. *0.4. ,., 70 *'—” 04,,+ „,,. ,",.?'- . :,:f4Si ' ',.'o,,--,1,1,-ot r' 1 k ' lr •�,� a ° v •_o ' ''. ' .. �°' ,c.• � ' •.+' ,.g` >w +C � >•,,, .a. <f',....•, . •ry ''''',',,c ?M. i iY ' . r 4F��p mo '�Ds tiY'T "�aA� �f+A�w 1 a 9 .p"w sK; DiR,,,*:::';'7::.,,, '''',.,,, S ., raP : a ,ar d � q,b•, rA vt #r�Y,. . a; , ,, . , . ; y.. ,°.. •D:::. „.. ..o:a����h. ✓ ..,;^t' ,. _>'!°' :,.�`^! ,�•AS`�'� Policy No.231-4286470 Form No. 1402.92 (10/17/92) ALTA Owner's Policy SCHEDULE OF 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,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,not recorded in the public records at Date of Policy,but known to the insured claimant and not disclosed in writing to the Company by the insured claimant prior to the date the insured claimant became an insured under this policy; (c) resulting in no loss or damage to the insured claimant; (d) attaching or created subsequent to Date of Policy;or (e) resulting in loss or damage which would not have been sustained if the insured claimant had paid value for the estate or interest insured by this policy. 4. Any claim,which arises out of the transaction vesting in the Insured the estate or interest insured by this policy,by reason of the operation of federal bankruptcy,state insolvency,or similar creditors'rights laws,that is based on: (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. First American Title Policy No.231-4286470 First American Title Insurance Company SCHEDULE A Type of Coverage: ALTA Standard Owner's (1992) Amount of Insurance $55,600.00 Date of Policy: October 06, 2004 To and include Docket 12402, Page 5616 1. Name of Insured: Town of Oro Valley 2. The estate or interest in the land which is covered by this Policy is fee as to Parcel No. 1, and easement as to Parcel No. 2, Exhibit "A". 3. Title to the estate or interest in the land is vested in: Town of Oro Valley 4. The land referred to in this policy is situated in the State of Arizona, County of Pima and described as follows: SEE EXHIBIT " A" ATTACHED HEREIN First American Title Policy No.231-4286470 EXHIBIT "A" PARCEL NO. 1: THAT PORTION OF THE SOUTH HALF OF THE NORTHWEST QUARTER OF THE NORTHWEST QUARTER, SECTION 22, TOWNSHIP 11 SOUTH, RANGE 13 EAST OF THE GILA AND SALT RIVER BASE AND MERIDIAN, PIMA COUNTY, ARIZONA, DESCRIBED AS FOLLOWS: BEGINNING AT THE SOUTHEAST CORNER OF SAID SOUTH HALF OF THE NORTHWEST QUARTER OF THE NORTHWEST QUARTER; THENCE SOUTH 89 DEGREES 57 MINUTES 10 SECONDS WEST, ALONG THE SOUTH LINE OF SAID SOUTH HALF, A DISTANCE OF 392.15 FEET; THENCE NORTH 41 DEGREES 21 MINUTES 45 SECONDS EAST, 592.63 FEET TO A POINT ON THE EAST LINE OF SAID SOUTH HALF; THENCE SOUTH 00 DEGREES 04 MINUTES 08 SECONDS EAST, ALONG SAID LINE A DISTANCE OF 444.47 FEET TO THE POINT OF BEGINNING. PARCEL NO. 2: TRAIL EASEMENT OVER THE EAST 20.00 FEET OF THE NORTHWEST QUARTER OF THE NORTHWEST QUARTER OF SECTION 22, TOWNSHIP 11 SOUTH, RANGE 13 EAST OF THE GILA AND SALT RIVER BASE AND MERIDIAN, PIMA COUNTY, ARIZONA. First American Title Policy No.231-4286470 SCHEDULE B 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, interests 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 heretofore or hereafter furnished, imposed by law and not shown by the public records. First American Title Policy No.231-4286470 SCHEDULE B PART TWO: 1. An easement for ingress and egress to the public and incidental purposes, recorded as Docket 5897, Page 256 of Official Records. (Affects Northerly portion of Parcel 2) End of Schedule B - Part II a First American Title Policy No.231-4286470 Form No. 1402.92 (10/17/92) ALTA Owner's Policy CONDITIONS AND STIPULATIONS 1. DEFINITION OF TERMS The insured shall notify the Company promptly Whenever requested by the Company, the insured, in writing(i) in case of any litigation as set forth in at the Company's expense,shall give the Company The following terms when used in this policy mean: Section 4(a)below,(ii)in case knowledge shall come all reasonable aid (i)in any action or proceeding, (a) "insured": the insured named in Schedule to an insured hereunder of any claim of title or securing evidence, obtaining witnesses, prosecuting A,and,subject to any rights or defenses the Company interest which is adverse to the title to the estate or or defending the action or proceeding, or effecting would have had against the named insured,those who interest, as insured, and which might cause loss or settlement,and(ii)in any other lawful act which in succeed to the interest of the named insured by damage for which the Company may be liable by the opinion of the Company may be necessary or operation of law as distinguished from purchase virtue of this policy, or (iii) if title to the estate or desirable to establish the title to the estate or interest including, but not limited to, heirs, interest, as insured, is rejected as unmarketable. If as insured. If the Company is prejudiced by the distributees,devisees, survivors, personal prompt notice shall not be given to the Company, failure of the insured to furnish the representatives, next of kin, or corporate or fiduciary then as to the insured all liability of the Company required cooperation, the Company's obligations to successors. shall terminate with regard to the matter or matters the insured under the policy shall terminate, (b) "insured claimant":an insured claiming loss for which prompt notice is required; provided, including any liability or obligation to defend, or damage. however,that failure to notify the Company shall in prosecute,or continue any litigation,with regard to (c) "knowledge"or"known":actual knowledge, no case prejudice the rights of any insured under this the matter or matters requiring such cooperation. not constructive knowledge or notice which may be policy unless the Company shall be prejudiced by the imputed to an insured by reason of the public records failure and then only to the extent of the prejudice. 5. PROOF OF LOSS OR DAMAGE. as defined in this policy or any other records which impart constructive notice of matters affecting the land. 4. DEFENSE AND PROSECUTION OF In addition to and after the notices required (d) "land": the land described or referred to in ACTIONS; DUTY OF INSURED under Section 3 of these Conditions and Stipulations Schedule A, and improvements affixed thereto which CLAIMANT TO COOPERATE. have been provided the Company,a proof of loss or by law constitute real property. The term "land" does damage signed and sworn to by the insured claimant not include any property beyond the lines of the area (a) Upon written request by the insured and shall be furnished to the Company within 90 days described or referred to in Schedule A, nor any right, subject to the options contained in Section 6 of after the insured claimant shall ascertain the facts title, interest, estate or easement in abutting streets, these Conditions and Stipulations,the Company,at its giving rise to the loss or damage. The proof of loss roads, avenues, alleys, lanes, ways or waterways, but own cost and without unreasonable delay, shall or damage shall describe the defect in, or lien or nothing herein shall modify or limit the extent to which provide for the defense of an insured in litigation in encumbrance on the title, or other matter insured a right of access to and from the land is insured by this which any third party asserts a claim adverse to the against by this policy which constitutes the basis of policy. title or interest as insured,but only as to those stated loss or damage and shall state,to the extent possible, (e) "mortgage": mortgage, deed of trust, trust causes of action alleging a defect, lien or the basis of calculating the amount of the loss or deed,or other security instrument. encumbrance or other matter insured against by this damage.If the Company is prejudiced by the failure (f) "public records": records established under policy. The Company shall have the right to select of the insured claimant to provide the required proof state statutes at Date of Policy for the purpose of counsel of its choice (subject to the right of the of loss or damage,the Company's obligations to the imparting constructive notice of matters relating to real insured to object for reasonable cause) to represent insured under the policy shall terminate, including property to purchasers for value and without the insured as to those stated causes of action and any liability or obligation to defend, prosecute, or knowledge. With respect to Section 1(a)(iv) of the shall not be liable for and will not pay the fees of any continue any litigation,with regard to the matter or Exclusions From Coverage, "public records" shall also other counsel. The Company will not pay any fees, matters requiring such proof of loss or damage. include environmental protection liens filed in the costs or expenses incurred by the insured in the In addition,the insured claimant may reasonably records of the clerk of the United States district court defense of those causes of action which allege matters be required to submit to examination under oath by for the district in which the land is located. not insured against by this policy. any authorized representative of the Company and (g) "unmarketability of the title": an alleged or (b) The Company shall have the right, at its shall produce for examination, inspection and apparent matter affecting the title to the land, own cost, to institute and prosecute any action or copying,at such reasonable times and places as may not excluded or excepted from coverage,which would proceeding or to do any other act which in its opinion be designated by any authorized representative of entitle a purchaser of the estate or interest described in may be necessary or desirable to establish the title to the Company, all records, books, ledgers, checks, Schedule A to be released from the obligation to the estate or interest, as insured, or to prevent or correspondence and memoranda,whether bearing a purchase by virtue of a contractual condition requiring reduce loss or damage to the insured. The Company date before or after Date of Policy, which the delivery of marketable title. may take any appropriate action under the terms of reasonably pertain to the loss or damage.Further,if this policy,whether or not it shall be liable hereunder, requested by any authorized representative of the 2. CONTINUATION OF INSURANCE AFTER and shall not thereby concede liability or waive any Company, the insured claimant shall grant its CONVEYANCE OF TITLE. provision of this policy. If the Company shall permission, in writing, for any authorized exercise its rights under this paragraph,it shall do so representative of the Company to examine, inspect The coverage of this policy shall continue in force diligently. and copy all records, books, ledgers, checks, as of Date of Policy in favor of an insured only so long (c) Whenever the Company shall have brought correspondence and memoranda in the custody or as the insured retains an estate or interest in the land,or. an action or interposed a defense as required control of a third party,which reasonably pertain to holds an indebtedness secured by a purchase money or permitted by the provisions of this policy, the the loss or damage. All information designated as mortgage given by a purchaser from the insured, or Company may pursue any litigation to confidential by the insured claimant provided to the only so long as the insured shall have liability by final determination by a court of competent Company pursuant to this Section shall not be reason of covenants of warranty made by the insured in jurisdiction and expressly reserves the right, in its disclosed to others unless, in the reasonable any transfer or conveyance of the estate or interest. sole discretion,to appeal from any adverse judgment judgment of the Company, it is necessary in the This policy shall not continue in force in favor of any or order. administration of the claim. Failure of the insured purchaser from the insured of either (i) an estate or (d) In all cases where this policy permits or claimant to submit for examination under oath, interest in the land,or(ii)an indebtedness secured by a requires the Company to prosecute or provide for produce other reasonably requested information or purchase money mortgage given to the insured. the defense of any action or proceeding, the insured grant permission to secure reasonably necessary shall secure to the Company the right to so prosecute information from third parties as required in this 3. NOTICE OF CLAIM TO BE GIVEN BY or provide defense in the action or proceeding,and all paragraph shall terminate any liability of the INSURED CLAIMANT. appeals therein,and permit the Company to use,at its Company under this policy as to that claim. option,the name of the insured for this purpose. First American Title Policy No.231-4286470 6. OPTIONS TO PAY OR OTHERWISE less, or if subsequent to the Date of Policy an '10. REDUCTION OF INSURANCE; SETTLE CLAIMS; TERMINATION OF improvement is erected on the land which increases REDUCTION OR TERMINATION OF LIABILITY. the value of the insured estate or interest by at least LIABILITY. 20 percent over the Amount of Insurance stated in In case of a claim under this policy, the Schedule A, then this Policy is subject to the All payments under this policy, except Company shall have the following additional options: following: payments made for costs, attorneys' fees and (a) To Pay or Tender Payment of the Amount (i) where no subsequent improvement has expenses, shall reduce the amount of the insurance of Insurance. been made,as to any partial loss,the Company shall pro tanto. To pay or tender payment of the amount of only pay the loss pro rata in the proportion that the insurance under this policy together with any costs, amount of insurance at Date of Policy bears to the 11. LIABILITY NONCUMULATIVE. attorneys' fees and expenses incurred by the insured total value of the insured estate or interest at Date of claimant,which were authorized by the Company,up Policy;or (ii) where a subsequent improvement has It is expressly understood that the amount of to the time of payment or tender of payment and been made, as to any partial loss, the Company insurance under this policy shall be reduced by any which the Company is obligated to pay. shall only pay the loss pro rata in the proportion that amount the Company may pay under any policy Upon the exercise by the Company of this 120 percent of the Amount of Insurance stated in insuring a mortgage to which exception is taken in option, all liability and obligations to insured under Schedule A bears to the sum of the Amount of Schedule B or to which the insured has agreed, this policy,other than to make the payment required, Insurance stated in Schedule A and the amount assumed, or taken subject, or which is hereafter shall terminate,including any liability or obligation to expended for the improvement. The provisions of executed by an insured and which is a charge or lien defend,prosecute, or continue any litigation, and the this paragraph shall not apply to costs,attorneys'fees on the estate or interest described or referred to in policy shall be surrendered to the Company for and expenses for which the Company is liable under Schedule A,and the amount so paid shall be deemed cancellation. this policy,and shall only apply to that portion of any a payment under this policy to the insured owner. (b) To Pay or Otherwise Settle With Parties loss which exceeds, in the aggregate, 10 percent of Other than the Insured or With the Insured Claimant. the Amount of Insurance stated in Schedule A. 12. PAYMENT OF LOSS. (i) to pay or otherwise settle with other (c) The Company will pay only those costs, parties for or in the name of an insured claimant attorneys' fees and expenses incurred in accordance (a) No payment shall be made without any claim insured against under this policy,together with Section 4 of these Conditions and Stipulations. producing this policy for endorsement of the payment with any costs, attorneys' fees and expenses incurred unless the policy has been lost or destroyed,in which by the insured claimant which were authorized by the 8. APPORTIONMENT. case proof of loss or destruction shall be furnished to Company up to the time of payment and which the the satisfaction of the Company. Company is obligated to pay;or If the land described in Schedule (A) (C) (b) When liability and the extent of loss or (ii) to pay or otherwise settle with the consists of two or more parcels which are not used damage has been definitely fixed in accordance insured claimant the loss or damage provided for as a single site, and a loss is established affecting with these Conditions and Stipulations, the loss or under this policy, together with any costs, attorneys' one or more of the parcels but not all,the loss shall damage shall be payable within 30 days thereafter. fees and expenses incurred by the insured claimant be computed and settled on a pro rata basis as if the which were authorized by the Company up to the amount of insurance under this policy was divided 13. SUBROGATION UPON PAYMENT OR time of payment and which the Company is obligated pro rata as to the value on Date of Policy of each SETTLEMENT. to pay. separate parcel to the whole, exclusive of any Upon the exercise by the Company of either of improvements made subsequent to Date of Policy, (a) The Company's Right of Subrogation. the options provided for in paragraphs(b)(i) or(ii), unless a liability or value has otherwise been agreed Whenever the Company shall have settled and the Company's obligations to the insured under this upon as to each parcel by the Company and the paid a claim under this policy,all right of subrogation policy for the claimed loss or damage,other than the insured at the time of the issuance of this policy and shall vest in the Company unaffected by any act of payments required to be made, shall terminate, shown by an express statement or by an the insured claimant. including any liability or obligation to defend, endorsement attached to this policy. The Company shall be subrogated to and be prosecute or continue any litigation. entitled to all rights and remedies which the insured 9. LIMITATION OF LIABILITY. claimant would have had against any person or 7. DETERMINATION, EXTENT OF property in respect to the claim had this policy not LIABILITY AND COINSURANCE. (a) If the Company establishes the title, or been issued.If requested by the Company,the insured removes the alleged defect,lien or encumbrance,or claimant shall transfer to the Company all rights and This policy is a contract of indemnity against cures the lack of a right of access to or from the remedies against any person or property necessary in actual monetary loss or damage sustained or land, or cures the claim of unmarketability of title, order to perfect this right of subrogation.The insured incurred by the insured claimant who has suffered all as insured, in a reasonably diligent manner by claimant shall permit the Company to sue, loss or damage by reason of matters insured against any method,including litigation and the completion compromise or settle in the name of the insured by this policy and only to the extent herein of any appeals therefrom, it shall have fully claimant and to use the name of the insured claimant described. performed its obligations with respect to that matter in any transaction or litigation involving these rights (a) The liability of the Company under this and shall not be liable for any loss or damage caused or remedies. policy shall not exceed the least of: thereby. If a payment on account of a claim does not fully (i) the Amount of Insurance stated in (b) In the event of any litigation, including cover the loss of the insured claimant,the Company Schedule A; litigation by the Company or with the Company's shall be subrogated to these rights and remedies in the or, consent,the Company shall have no liability for loss proportion which the Company's payment bears to the (ii) the difference between the value of or damage until there has been a final determination whole amount of the loss. the insured estate or interest as insured and the value by a court of competent jurisdiction,and disposition If loss should result from any act of the insured of the insured estate or interest subject to the defect, of all appeals therefrom, adverse to the title claimant, as stated above,that act shall not void this lien or encumbrance insured against by this policy. as insured. policy, but the Company, in that event, shall be (b) In the event the Amount of Insurance stated (c) The Company shall not be liable for loss or required to pay only that part of any losses insured in Schedule A at the Date of Policy is less than 80 damage to any insured for liability against by this policy which shall exceed the amount, percent of the value of the insured estate or interest or voluntarily assumed by the insured in settling any if any, lost to the Company by reason of the the full consideration paid for the land,whichever is claim or suit without the prior written consent of impairment by the insured claimant of the Company's the Company. right of subrogation. First American Title Policy No.231-4286470 (b) The Company's Rights Against Non- and the insured. Arbitration pursuant to this policy 'by any action asserting such claim,shall be restricted Insured Obligors. and under the Rules in effect on the date the demand to this policy. The Company's right of subrogation against non- for arbitration is made or, at the option of the (c) No amendment of or endorsement to this insured obligors shall exist and shall include,without insured,the Rules in effect at Date of Policy shall be policy can be made except by a writing endorsed limitation, the rights of the insured to indemnities, binding upon the parties. The award may include hereon or attached hereto signed by either the guaranties, other policies of insurance or bonds, attorneys'fees only if the laws of the state in which President, a Vice President, the Secretary, an notwithstanding any terms or conditions contained in the land is located permit a court to award attorneys' Assistant Secretary, or validating officer or those instruments which provide for subrogation fees to a prevailing party.Judgment upon the award authorized signatory of the Company. rights by reason of this policy. rendered by the Arbitrator(s)may be entered in any court having jurisdiction thereof 16. SEVERABILITY. 14. ARBITRATION The law of the situs of the land shall apply to an arbitration under the Title Insurance Arbitration In the event any provision of the policy is held Unless prohibited by applicable law, either the Rules. invalid or unenforceable under applicable law, the Company or the insured may demand arbitration A copy of the Rules may be obtained from the policy shall be deemed not to include that provision pursuant to the Title Insurance Arbitration Rules of Company upon request. and all other provisions shall remain in full force and the American Arbitration Association. Arbitrable effect. matters may include, but are not limited to, any 15. LIABILITY LIMITED TO THIS POLICY; controversy or claim between the Company and the POLICY ENTIRE CONTRACT. 17. NOTICES,WHERE SENT insured arising out of or relating to this policy, any service of the Company in connection with its (a) This policy together with all endorsements, All notices required to be given the Company and issuance or the breach of a policy provision or other if any, attached hereto by the Company is the entire any statement in writing required to be furnished the obligation.All arbitrable matters when the Amount of policy and contract between the insured and the Company shall include the number of this policy and Insurance is$1,000,000 or less shall be arbitrated at Company.In interpreting any provision of this policy, shall be addressed to the Company at 1 First the option of either the Company or the insured. All this policy shall be construed as a whole. American Way, Santa Ma,California 92707, or to arbitrable matters when the Amount of Insurance is (b) Any claim of loss or damage, whether or the office which issued this policy. inexcess of$1,000,000 shall be arbitrated only when not based on negligence, and which arises out of agreed to by both the Company the status of the title to the estate or interest covered hereby or First American Title JP�LEY q9� O ,O TOWN OF ORO VALLEY Department of Public Works ab 11000 N. La Canada Drive Oro Valley, Arizona 85737 AAA A (520) 229-4880 Fax (520) 229-4899 SUNDED ' November 18, 2004 Mark Felix Land department Monterey Homes Arizona, Inc. 3275 W. Ina Road, Suite 220 Tucson, AZ 85741 Dear Mr. Felix: This is to acknowledge receipt and acceptance of a Special Warranty Deed recorded on September 22, 2004 at Docket 12392, Page 2941 describing a portion of Glover Road. By this acceptance, the Town has assumed the maintenance responsibility of that portion of Glover Road. I appreciate the cooperation by Monterey Homes in resolving this right-of-way issue. Sincerely; 1 William A. Jansen, P.E. Director of Public Works/Town Engineer Copy: Tobin Sidles, Acting Town Attorney Kathi Cuvelier, Town Clerk M M LA PSOM AS 800 E.Wetmore Road,Suite 110,Tucson,AZ 85719 Phone:520.292.2300 Fax:520.292.1290 www.mmla.com r-1 9 70/77., Transmittal LI% To Craig Civalier NOV 2004 Date November 4, 2004 Towr of Oro Valley a • Company Town of Oro Valley Orp DeptoRiblcWodis 4.ea' Project No. 02063-01-11 1 _4.194 Address: 11000 N. La Canada Drive Oro Valley , AZ 85737 Project Verde Ranch -Glover Road Deed Transmitting: Via: For your: Other: Prints/Copies Personal Delivery Approval Per Your Request Plans Overnight Review&Comment Per the Request of Reports UPS Distribution Mylars Messenger Information/Files Please Return Enclosures Check X Mail Signature Please Acknowledge Diskettes Federal Express X Use Please respond by: CDs Fax Your Redlines Being Picked Up Cover Sheet No. of Enclosures Description 1 Glover Road Special Warranty Deed Remarks: Craig: Here is the deed for the Glover Road ROW. Let me know if I need to do anything else. From: Jerry Edwards Received by: Copies to: Date: ------.„ —11 il , ..,,e„<:::,.. w'' Nov — 4 REC'D MONTEREY HOMES November 3, 2004 Mr.Jerry Edwards MMLA, Inc. 800 Fast Wetmore Road, Suite 11.0 Tucson,Arizona 85719 Re: Verde Ranch- Dedication of a Portion of Glover Road to the Town of Oro Valley Dear Jerry, As requested by the Town of Oro Valley, Monterey has caused that portion of Glover Road to be conveyed to the Town as described in the attached Special Warranty Deed, which was recorded on September 22, 2004 at Docket 12392, Page 2941. Would you please forward the attached to the Town confirming the conveyance and acknowledging that by the conveyance they have accepted future maintenance of that portion of Glover Road. Thanks for your help. Sincerely, ./U-CkliWttO Mark Felix Land Department Monterey Homes Arizona, Inc. 3275 W. Ina Rd. • Suite 220 •Tucson,Arizona 85741` • Phone 520-292-2082 • Fax 520-292-5051 A MERITAGE ill` COMPANY Listed on the New York Stock Exchange-MTH