HomeMy WebLinkAboutProperty - Deeds/Titles - 9/19/1996, Special Warranty Deed, Carma Financial Corp. (Grantor) .0 Prit
.' ' - P. ANN RODR I GUEZ,, RECORDER or _ DOCKET
10383
BY: GIM 1; � PAGE: 1227
DEPUTY RECORDER . NO. OF PAGES: 3
2721 ROOC 41zirt SEQUENCE: 96160035
TLATI A 09/19/96
LAWYERS TITLE WTDEED 15:22:00
450 W PASEO REDONDO PICKUP
TUCSON AZ 85701 AMOUNT PAID $ 11 .00
SPECIAL WARRANTY DEED
For the consideration of Ten Dollars, and other valuable considerations, I or we,
Carma Financial Corporation, a Nevada corporation
does hereby convey to
Norwest Bank,Arizona,N.A., a national banking association, as trustee under trust
agreement by and between Norwest Bank,Arizona,N.A. and the Town of Oro
Valley,Arizona dated as of September 1, 1996
the following real property situated in Pima County, Arizona:
See Exhibit "A" attached hereto and made a part hereof.
From and after the date hereof, Grantor shall have the right of first refusal to purchase the
Property and all portions thereof. In the event the Grantee desires to transfer all or any
portion of the Property, it shall give notice in writing to the Grantor of its intention to
transfer the Property ("Notice"), and the Notice shall specify all of the terms and
conditions of the proposed disposition and the name, address and telephone number of
the proposed buyer. The Grantor shall have the right of first refusal to acquire the
Property (or such portion thereof specified in the Notice) on the same terms and
conditions as set forth in the Notice during the 60 day period following the Grantor's
receipt of such Notice. In the event that Grantor does not so acquire the Property (or
portion thereof specified in in the Notice)within the 60 day period following its receipt of
the Notice, then the Grantee may dispose of the Property (or portion thereof set forth in
the Notice) within 90 days thereafter to the person or entity, and upon the terms and
conditions, specified in the Notice. In the event the Grantee does not dispose of the
Property(or portion thereof specified in the Notice) within such 90 day period, then the
right of first refusal shall be revived with regard to any future transfer. The Grantee shall
have no right to sell or exchange the Property or any portion thereof for any consideration
other than payment (at closing or on terms) in United States Dollars.
Subject to all matters of record in the Official Records of Pima County, Arizona, and
those matters observable upon an inspection or survey of the Property, Grantor binds
itself and its successors to warrant and defend the title to the Property solely against all
acts of Grantor and of no other.
Dated this /K day September,Se tember, 1996
Cara Fina Corporation, a Nevada corporation
By:
c iC. 0
1 0 3 8 3 1 2 2 7 5
•
STATE OF ARIZONA
COUNTY OF
This instrument was acknowledged before me this k dayof 2 � 996 by:
� �� ��
bu c(t as L/c/te LC - - ,Carma Financial Corporation
My commission expires: fro- /,7. 7 7
Notary ublic
OFFICIAL SEAL
`'rYi, rR - VICKI P. ETHERTON
cv„tv NOTARY PUBLIC-ARIZONA
Yrz PIMA COUNTY
xlt My Com. Expiras Oct. 29, 1999
1228
1•
EXHIBIT "A"
A part of the Northwest Quarter of Section 11, Township 12 South, Range 13 East, Gila and
Salt River Base and Meridian, Pima County, Arizona, described as follows:
COMMENCING at the Northwest corner of the said Northwest Quarter;
THENCE South 00 degrees 01 minutes 41 seconds East along the West line of the said
Northwest Quarter a distance of 631.99 feet;
THENCE South 89 degrees 56 minutes 10 seconds East 75.00 feet to the POINT OF
BEGINNING on a line 75.00 feet East of and parallel with the said West line;
THENCE North 00 degrees 01 minutes 41 seconds West along the said parallel line a distance
of 557.11 feet to a line 75.00 feet South of and parallel with the North line of the said
Northwest Quarter;
THENCE North 89 degrees 52 minutes 57 seconds East along the said parallel line a distance
of 560.00 feet;
THENCE South 00 degrees 01 minutes 41 seconds East 558.88 feet;
THENCE North 89 degrees 56 minutes 10 seconds West 560.00 feet to the POINT OF
BEGINNING.
10383
CARMA FINANCIAL CORPORATION
SELLER
NORWEST BANK,ARIZONA,N.A. AS TRUSTEE UNDER TRUST
AGREEMENT
BY AND BETWEEN NORWEST BANK,ARIZONA,N.A.,AND THE TOWN OF
ORO VALLEY,ARIZONA,DATED SEPTEMBER 1, 1996
BUYER
APPROXIMATELY 7.17 ACRES
SOUTHEAST CORNER OF LA CANADA/NARANJA
PIMA COUNTY,ARIZONA
PROPERTY
LAWYERS TITLE OF ARIZONA
ONE SOUTH CHURCH AVENUE
SUITE 2130
f TUCSON,ARIZONA 85701
520-740-0424
ESCROW NO. 501044
VICKI ETHERTON
PAMELA TIGHE
LAWYERS TITLE OF ARIZONA, INC.
450 PASEO REDONDO
TUCSON,AZ 85701
BUYERS/BORROWERS CLOSING STATEMENT
PRE-AUDIT
Buyer/Borrower Norwest Bank Arizona N.A. Escrow No: 501044 -024 DT
Close Date: 09/19/1996
Proration Date: 09/19/1996
Date Prepared: 09/17/1996
Property:
,Az
4),I.,f'1pIG44,1a a? ai t a \^t{`. .1'
Total Consideration 700,000.00
Settlement/Closing Fee to Lawyers Title Of Arizona 400.00
Recording Fees 24.00
County Taxes from 07/01/96 to 09/19/96 1,907.04
Based on the Annual amount of$8,700.88
Courier to Lawyers Title Of Arizona 10.00
Sub Totals 700,434.00 1,907.04
Balance Due From Buyer 698,526.96
Totals 700,434.00 700,434.00
I.
r
)
DATED: 19,
Norwest Bank Arizona N.A.
vGr •.Jc1J. 1J-)Li" -11 •JJIU,1 -. ..
LAWYERS TITLE OF AEIZINC.
• 450 PAS Q REDONO4
TrXSON,AZ 85701
BUYERS/BORROWERSBUYERS/BORROWERS CLOSING STATEMENT •
PRE-AUDIT - •
Buyer/Borrower Norwest Bank Arizona N.A. Escrow No; 501044,-024 D'r
Close Date: 09/19/1996 •
Prrotadoa Dem: 09/19/1996
Date Prepared: 09/17/1996 •
aper*
Az
• 1� • �_•�.-�._J II_'-•.-;- .. `•'• .(.(.d' ♦�i.wll. I •7 • •t. •P' -i ♦ N_ _ '11-7_ _
-111111311111
• _ 1 Total Consideration 700,000.001
Setdemeat/Closin6 Fee to Lawyers Title of 400.00
Recording Fees '
• Cunnty Taxes from 07/01/96 to 09/19/96 1,907.04
Based on the Annual amount of 38,700.E
Courier to Lawyers Title Of Arizona �-1
700,44 44.0o t 1,907.0.4.1
sub�'ots� f
Balance Das From.Buyer r 996,520.96
Totals 700,434.00, 700,434.00
.�r...�.
•
•
•
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1 � M
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DATED: 4 '1I9,
--�- ment dated erg 1996 --
No i Bonk Atllooa N.A., as trustee under must Agree
by and between the Tovin
of Oro Valley, Arizona and ,.....Norwest Bank Arizona, N.A. ,'
as Estee.
R. A. (tinny) Lenio
Assistant Vice President
Norwest Bank Arizona, N.A.
- Corporate Trust Department
ow Pr%
F. ANN RODRIGUEZ_, RECORDER /,' . ,-- \'; DOCKET:
10383
RECORDED BY: GIM PAGE:� 414
122?
DEPUTY RECORDER \ , �,�' r , NO. OF PAGES: 3
2721 ROOC \*18izo�r SEQUENCE: 96160035
TLATI A 09/19/96
LAWYERS TITLE WTDEED 15:22:00
450 W PASEO REDONDO PICKUP
TUCSON AZ 85701 AMOUNT PAID $ 11 .00
SPECIAL WARRANTY DEED
For the consideration of Ten Dollars, and other valuable considerations, I or we,
Carma Financial Corporation, a Nevada corporation
does hereby convey to
Norwest Bank,Arizona,N.A., a national banking association, as trustee under trust
agreement by and between Norwest Bank,Arizona,N.A. and the Town of Oro
. _ Valley,Arizona dated as of September 1, 1996 .
the following real property situated in Pima County,Arizona:
See Exhibit "A" attached hereto and made a part hereof.
From and after the date hereof, Grantor shall have the right of first refusal to purchase the
Property and all portions thereof. In the event the Grantee desires to transfer all or any
portion of the Property, it shall give notice in writing to the Grantor of its intention to
transfer the Property("Notice"), and the Notice shall specify all of the terms and
conditions of the proposed disposition and the name,address and telephone number of
the proposed buyer. The Grantor shall have the right of first refusal to acquire the
Property(or such portion thereof specified in the Notice)on the same terms and
conditions as set forth in the Notice during the 60 day period following the Grantor's
receipt of such Notice. In the event that Grantor does not so acquire the Property(or
portion thereof specified in in the Notice)within the 60 day period following its receipt of
the Notice,then the Grantee may dispose of the Property(or portion thereof set forth in
the Notice)within 90 days thereafter to the person or entity, and upon the terms and
conditions, specified in the Notice. In the event the Grantee does not dispose of the
Property(or portion thereof specified in the Notice)within such 90 day period,then the
right of first refusal shall be revived with regard to any future transfer. The Grantee shall
have no right to sell or exchange the Property or any portion thereof for any consideration
other than payment(at closing or on terms) in United States Dollars.
Subject to all matters of record in the Official Records of Pima County, Arizona, and
those matters observable upon an inspection or survey of the Property, Grantor binds
itself and its successors to warrant and defend the title to the Property solely against all
acts of Grantor and of no other.
Dated this I K day September,Se tember 1996
Cara Fina ' Corporation, a Nevada corporation
e
By•
STATE OF ARIZONA
COUNTY OF
of '-
This instrument was acknowledged before me this day 996 by:
tkvi(d 6u( `s as O .Carma Financial Corporation
f �
My commission expires: /')
-
L
Notary •ublic
_ OFF/C/AL SEAL
VICKI P. ETHERTON
-`~ ' NOTARY PUBLIC-ARIZONA
;.„,# PIMA COUNTY
My Com Expire Oct.29. 1999
1o
3 8 3 1 2 2 8
EXHIBIT "A"
A part of the Northwest Quarter of Section 11, Township 12 South, Range 13 East, Gila and
Salt River Base and Meridian,Pima County,Arizona, described as follows:
COMMENCING at the Northwest corner of the said Northwest Quarter;
THENCE South 00 degrees 01 minutes 41 seconds East along the West line of the said
Northwest Quarter a distance of 631.99 feet;
THENCE South 89 degrees 56 minutes 10 seconds East 75.00 feet to the POINT OF
BEGINNING on a line 75.00 feet East of and parallel with the said West line;
THENCE North 00 degrees 01 minutes 41 seconds West along the said parallel line a distance
of 557.11 feet to a line 75.00 feet South of and parallel with the North line of the said
Northwest Quarter;
THENCE North 89 degrees 52 minutes 57 seconds East along the said parallel line a distance
of 560.00 feet;
THENCE South 00 degrees 01 minutes 41 seconds East 558.88 feet;
THENCE North 89 degrees 56 minutes 10 seconds West 560.00 feet to the POINT OF
BEGINNING.
111383 1229
.
� Arizona Department of Revenue
•
_ - it,1Division of Property Valuation&Equalization AFFiDAVIT OF PROPERTYVALUE
,'OAFFIDAVIT OF PROPERTY VALUE
DPVE Form 82162
1. ASSESSOR'S PARCEL NUMBER(s)(Primary Parcel Number) FOR OFFICIAL USE ONLY
224 � (buyer and seller leave blank)
(a)
(a)County of Recordation:
BOOK MAP PARCEL SPLIT (b)Docket&Page Number:
NOTE: If the sale involves multiple parcels,how many are included? c)Fee/Recording ecording Number:
(b)List the number of additional parcels other than the primary (d)Date of Recordin : .
parcel that are included in sale. g
(c) �` Assessor/DOR Validation Codes: .
(d) (e)Assessor
(f)DOR
(e) (0
10. TYPE OF DEED OR INSTRUMENT(Check One):
2. SELLER'S NAME&ADDRESS: a. 0 Warranty Deed d. 0 Contract or Agreement
Carma Financial Corporation
e%David F.Burris 1200 W.Re b.Er Special Warranty Deed e.0 Quit Claim Deed
tta Esplanade.#58
Punta Gorda,FL 33950 c.❑ Joint Tenancy Deed f. ❑ Other
11.
TOTAL SALES PRICE:3. BUYER'S NAME&ADDa tsteg u t/ / dated 9-1-96
700,000
.00Norwest Bank Arizona N.A. tween Norwest Bank Arizona
3300 N.Central Ave.. and Town of Oro Valla. PERSONAL PROPERTY:
Phoenix,AZ 85012 Did the buyer receive any personal property Ythat has a value
Buyer and Seller related? Yes El No Edgreater than 5%of the sales price?
If yes,state relationship: (a)Yes 0 No Ei If yes,briefly describe:
4. ADDRESS OF PROPERTY: Approximate value:
Vacant Land PP (b)
13. DATE SALE: 09 / 96
S. MAIL TAX BILL TO: Month Year
Norwest Bank Arizona N.A. NOTE: This is the date of the contract of sale.
3300 N.Central Ave. If you are recording title in fulfillment of a previously recorded
Phoenix.Az 85012 contract,you need not complete this affidavit.
14. CASH DOWNPAYMENT:
6. TYPE OF PROPERTY(Check one)•
a. Q Vacant Land f.0 Commercial/Industrial i$Iiiiillikiigi1000.#;.:00...::',MiligitiliiiiiiiiiiK1
15. METHOD OF FINANCING(check all that apply):
b.0 Single Fam.Res. g. 0 Agriculture
a.ro None b.0 Exchange or trade
c. 0 Condo/Townhouse h.0 Mobile Home g
c.0 Assumption of existing loan(s) d. 0 New loan from seller
d. 0 2-4 Plex Affixed 0
e.0 New Loan(s)from financial (Seller Carryback)
e.0 Apartment Bldg i. 0 Other,Specify: institution:
7. RESIDENTIAL (Answer if
you INTENDED USE 1•0 Conventional 2. ❑VA 3. 0 FHA
checked b,c,d,or h above)(Check One): f. 0 Other: Explain:
❑ To be occupied by owner or"family member."
16. PARTIAL INTERESTS:
0 To be rented to someone other than"family member." Is onlypartial interest a (e.g., 1/3 or 1/2)being transferred?
8. PARTY COMPLETING AFFIDAVITYes 0 No El If yes,explain •
(Name,Address&Phone)
Seller at address shown above: Phone: 17. SOLAR ENERGY( apply):
check all that
Bikver at address shown above:Phone:
a.0 None b. 0 Hot Water
c. 0 Heating-Passive d. 0 Heating-Active
• 18. LF6AL DESC' 1' ON
See Exhibit": : :ched hereto and made a part hereof.
UNDERSIGNED BEING DULY SWORN, ON OATH, SAYS THAT THE F•REGO 1-' ►•FO' ; ON IS A TRUE AND
S TEMENT O FACTS PERTAINING TO THE TRANSFER OF THE AB I VE D.•''4 D P: .PERTYCORRECT
.
AL___
Signature of Seller/Agent Signature of Buyer/Agent
State of Arizona,County of i L . •
el ,
State of Arizona,County of, . .'
Subscribed and sworn to bef: OFFICIAL E�1C Subscribed and sworn � � ice, 'OFFICIAL SEAL
a. ��
• P. ETHERTON to of, {� . VICKI P. ETHERTON
/A?'fI -day of 1 J .1 s,�.. '....-.���_4 i icy./ i ►� !� .=�;e,. _ Of/ , of.,e; y ....,� T ,
�,,c .;s1 i,.Y P :Lie ARIZONA day . r.,�; NOTAR 8 C RtZO
NotaryPublic flhi6t1 s.�,... � �•�../. 4UNTY /F4I ' ' .
"l %` �No Public ,*�-., ,
99
- —
c......1
Notary Expiration Date, NotaryEx Expiration Date
220(11/4/94)
. .. 1 • w . .. '.•...tai• • •... .v .. ♦ .. . .• -Y+,') ..•r- ... •.rf ....• • .. .JM. -•
•
EXI-IIBIT "A"
A part of the Northwest Quarter of Section 11, Township 12 South, Range 13 East, Gila and
Salt River Base and Meridian,Pima County,Arizona, described as follows:
COMMENCING at the Northwest corner of the said Northwest Quarter;
THENCE South 00 degrees 01 minutes 41 seconds East along the West line of the said
Northwest Quarter a distance of 631.99 feet;
THENCE South 89 degrees 56 minutes 10 seconds East 75.00 feet to the POINT OF
BEGINNING on a line 75.00 feet East of and parallel with the said West line;
THENCE North 00 degrees 01 minutes 41 seconds West along the.said parallel line a distance
•
of 557.11 feet to a line 75.00 feet South of and parallel with the North line of the said
Northwest Quarter;
THENCE North 89 degrees 52 minutes 57 seconds East along the said parallel line a distance
of 560.00 feet;
THENCE South 00 degrees 01 minutes 41 seconds East 558.88 feet;
THENCE North 89 degrees 56 minutes 10 seconds West 560.00 feet to the POINT OF
BEGINNING.
• _ I
Pritt
F. ANN RODRIGUEZ. RECORDERDOCKET: 10383
RECORDED BY: GIM ; PAGE: 1230
DEPUTY RECORDER .C'tlimic.
NO. OF PAGES:
3
2721 ROOC 1.44/014' ' SEQUENCE: 96160036
TLATI t A '. 1/19/96
TOWN OF ORO VALLEY WTDEED 1;:,:22:00
11000 N LA CANADA
MAIL
ORO VALLEY AZ 85737 , AMOUNT PAID $ 12.00
When recorded return to:
"Town of Oro Valley
Attn: Tobin Sidles
11000 North La Canada
Oro Valley. Arizona 85737
SPECIAL WARRANTY DEED
For the consideration of Ten Dollars and other valuable considerations,
NORWEST BANK ARIZONA. N.A., A NATIONAL
BANKING ASSOCIATION, AS TRUSTEE PURSUANT TO
THAT CERTAIN TRUST AGREEMENT DATED
SEPTEMBER 1, 1996 BY AND BETWEEN THE TOWN OF
ORO VALLEY. ARIZONA AND NORWEST BANK
ARIZONA. N.A.
does hereby convey to
TOWN OF ORO VALLEY, ARIZONA, A POLITICAL
SUBDIVISION OF THE STATE OF ARIZONA
the following real property situated in Pima County, Arizona:
SEE EXHIBIT A ATTACHED HERETO AND MADE A
PART HEREOF
Subject to all matters of record in the Official Records of Pima County, Arizona and those
matters observable upon an inspection or survey of the Property. Grantor hinds itself and its
successors to warrant and defend the title to the Property solely against all acts of Grantor
and of no other.
AFFIDAVIT EXEMPT PER ARS 42-1614 A-3.
Pursuant to A.R.S § 33-401, the name and address of the beneficiaries of The Trust
Agreement by and between Norwest Bank Arizona, N.A. and The Town of Oro Valley.
y
Arizona, dated as of September 1. 1996 are all owners of the Town of Oro Valley
SK k:Imp 154)(,4.I 9/1X/96
123010383
. -
Certificates of Participation Series 1996, c/o Norwest Bank Arizona. N.A., Attn: Corporate
Trust Services, 3300 North Central Avenue, Phoenix, Arizona 85012.
�1 cc
Dated this 1 day of September. 1 ))6
NORWEST BANK ARIZONA. N.A., a national ha:iking
association, Trustee
I. • . •
R.A. (Ginny) LENIO. Assistant Vice President
State of Arizona
County of Maricopa
The foregoing instrument was acknowledged before me this .1,- day of
September. 1996. by R.A. (Ginny) LENIO, who acknowledged to he the Assistant Vice
President of Norwest Bank Arizona, N.A., a national banking association, and that as such
officer. being authorized so to do, executed the foregoing instrument for the purpo'.es therein
contained by signing the name of the association as Trustee.
(Seal and Expiration Date)
01"•:R' stn.
CHARLENE JA CUES Notary Pithlic
1 ti 40ik-
Notary I•u01N:•it�tr of A;itcxna
• , MAk$CU1'A Cat:Nrf
• My Comm Er'iris Dec 13.:999
SKIt:mei) 1S49b4.1 9/1XI'x -2-
10 3 8 3
1 2 31
EXHIBIT "A"
11, Township A part of the Northwest Quarter of Section 12 South, Range 13 East, Gila and
Salt River Base and M
eridian, Pima County, Arizona,described as follows:
COMMENCING at the Northwest corner of the said Northwest Quarter;
THENCE South 00 degrees 01 minutes utes 41 seconds East along the West line of the said
Northwest Quarter a distance of 631.99 feet;
THENCE South 89 degrees 56 minutes 10 seconds East 75.00 feet to the POINT OF
BEGINNING on
a line 75.00 feet East of and parallel with the said West line;
d West alongthe said parallel line a distance
THENCE North 00 degrees 01 minutes 41 seconds
75.00 feet South of and parallel with the North line of the said
of 557.11 feet to a line
Northwest Quarter;
THENCE North 89 degrees 52 minutes 57 seconds East along the said parallel line a distance
of 560.00 feet;
THENCE South 00 degrees 01 minutes 41 seconds East 558.88 feet;
THENCE North 89 degrees �6 minutes 10 seconds West 560.00 feet to the POINT OF
BEGINNING.
I.
4
10383
1232
,;•,,f,,,,,, Arizona Department of Revenue •
- •AFFIDAVIT OF PROPERTY VALUE
Division of Property Valuation&Equalization
w �
.�� 1 AFFIDAVIT OF PROPERTY VALUE _ SEE INSTRUCTIONS ON REVERSE
tom DPVE Form 82162(Rev.4/89)
1. ASSESSOR'S PARCEL NUMBERS)(Primary Parcel Number) 9. FOR OFFICIAL USE ONLY(buyer and seller leave blank)
( )a 224 26 5680 (a) County of Recordation:
BOOK MAP PARCEL SPLIT - (b) Docket&Page Number:
NOTE If the sale involves multiple parcels,how many are included?
(c) Fee/Recording Number.
(b) List the number of additional parcels other than
the primaryparcel that are included in sale. f .- ``a`
(d) Date of Recording: s° ,
List the additional parcel numbers(up to 4)below:
Assessor/DOR Validation Codes:
c (d)
(e) Assessor (f) DOR
' :':''',*-pit
(e) x (t) s::
2. SELLER'S NAME&ADDRESS: 10. TYPE OF DEED OR INSTRUMENT(Check One):
Carina Financial Corporation a [1 Warranty Deed d LI] Contract or Agreement
1299 W. Retta Esplande,ande ATO. 5 8 b. El S• pecial Warranty Deed e. Quit Claim Deed •
p Fri
Punta Gorda, FL 33950 c. J• oint Tenancy Deed f. l 1 Other
. 3. BUYER'S NAME&ADDRESS:ItZc ESt Bilk Adam,N.A., a 11. TOTAL SALE PRICE ' '''''''1'../1/04-01/0-0-(L
1 {
• .I 4 • , as $ L O, 11 _;_
•
•.,.:_.�_-_, . ._,.e et-_,5 --. , !-IT. '.e- , •. 12. PERSONAL PROPERTY:
Tall Of Cit0 Valley, Ari CM, dated SspbEnter 1, buyer receive anypersonal property(see reverse for definition)that has a
1996 Did the
3300 North Central Avenue value greater than 5%of the sale price:
Phoenix, Arizona 85.012 (a) Yes No._X_.If yes,briefly describe:
Buyer and Seller related? Yes No
If yes,state relationship: Approximate Value:(b) $
4. ADDRESS OF PROPERTY: 13. DATE OF SALE 9 / 96
Vacant Land Month Year
NOTE:This is the date of the contract of sale.If you are recording title in fulfillment
of a previously recorded contract,you need not complete this affidavit(see A.1 on
5. MAIL TAX BILL TO:Norwest Bank Arizona, N.A. reverse).
14. CASH DOWN PAYMENT: $ 700,000.Q0
3300 North Central Avenue_ -
Phoenix, Arizona 85012 15. METHOD OF FINANCING(check all that apply):
6. TYPE OF PROPERTY(Check Ones
a b. LI Exchange or trade
c. [I] Assumption of existingloan(s) d. ❑ New loan from seller
a Vacant Land f. LICommercial/Industrial P
(Seller Carryback)
(' e. ❑ N• ew loan(s)from financial institution:
b. LJ Single Fam.Residence g. [I] Agriculture
ng
c. Eli Condo/Townhouse h. [I] Mobile Home
(1) LJ Conventional (2) [II VA (3) LI FHA
LI 2-4 Plex
Affixed Eld.
f. CIOther,Explain •
i. LI Other,Specify.
e. 111 Apartment Bldg. 16. PARTIAL INTERESTS:
7. RESIDENTIAL BUYER'S INTENDED USE(Answer if you checked, b; c, d, Is only a partial interest(e.g.,1/3 or 1/2)being transferred?
or h above)(Check One): Yes No If yes,explain
n To be occupied by owner or (i To be rented to someone 17. SOLAR ENERGY(check all that apply):
I I "family member." I I other than"familymember." n
a ElNone b. Hot Water
NOTE See reverse for definition of"family member."
�- c. I t Heating-Passive d. 1-1 Heating-Active
8. PARTY COMPLETING AFFIDAVIT(Name,Address,&Phone) g
Seller atS�lC�ni1 abOVE'�Firm: 18. LEGAL DESCRIPTION attach copy if necessary)
affitess See Exhibit "A" attached hereto and made
at,.., ��,. :r;! abs; ..• -: a part hereof.
(Phone) ( ) —
THE UN"ERSI e . R- G ' LY SWORN,ON OATH,SAYS THAT THE F'•EG 1 F Fj T UE.QID COR` T ST. ► E .OF THE FACT .
PERTAINI • RA►`•FER OF THE ABOVE DESCRIBED P:,!'�' . .,`a • • -= �• Asa ,
•
_„...6.1ter-r.4e40. Trusb2e `—P r)•
----.4-- y ,_ N /*C
Signatur=• 4 ler/Age 0 l .E.1 ' R�1.Q0A Signature of Buyer/AgentR.A. (Gxriy)I.ENIO, Vice .
dent
State of Arizona,County of ``�� 4,..,\111/40 P 0puN ZB.199% State of Arizona,County,• OFFCtA1 SFA1
Subscribed and s rn to before me-n 541. CMS` 0�<• Subscr''bed and sworn•�:t•�-i'•�• -& LE.NE JACQUE.S
M�p,'�X'��tt6 / �.li ::,.�,' Notary kublic-State of Arizona 96
' -fes / of
G.�•_ ,". 1
11.K IIdayof Q ;1i ,4„140__ 1 day ��• �R��fJP�COUNTY 9
NotaryPublic �� -' Notary Public
:Italitifli ��j► s o� 13,1999
ii":1
NotaryExpiration Date D-V -%7
Notary Expiration Date
P
•
EXHIBIT "A"
Apart of the Northwest Quarter of Section 11, Township 12 South, Range 13 East, Gila and
Salt River Base and Meridian,Pima County,Arizona,described as follows:
COMMENCING at the Northwest corner of the said Northwest Quarter;
THENCE South 00 degrees 01 minutes 41 seconds East along the West line of the said
Northwest Quarter a distance of 631.99 feet;
THENCE South 89 degrees 56 minutes 10 seconds East 75.00 feet to the POINT OF
BEGINNING on a line 75.00 feet East of and parallel with the said West line;
THENCE North 00 degrees 01 minutes 41 seconds West along the said parallel line a distance
of 557.11 feet to a line 75.00 feet South of and parallel with the North line of the said
Northwest Quarter;
THENCE North 89 degrees 52 minutes 57 seconds East along the said parallel line a distance
of 560.00 feet;
THENCE South 00 degrees 01 minutes 41 seconds East 558.88 feet;
THENCE North 89 degrees 56 minutes 10 seconds West 560.00 feet to the POINT OF
BEGINNING.
JGC-1 I-OU 1 UL' VC. ‘to
. i
FDIC_UUAtVER
Escrow No. =44024DT : .
Date: •
•
THE' PARTIES HERETO UNDERSTAND AND AGREE THAT ALL FUNDS
DEPOSITED HEREUNDER SHALL BE DEPOSITED INTO A GENERAL
ESCROW ACCOUNT OR• ACCOUNTS, INCLUDING ESCROW
• SAVINGS/INVESTMENTS ACCOUNTS OF LAWYERS TITLE OF ARIZONA,
INC. WITH A STATE OR NATIONAL, BANK AUTHORIZED TO DO BUSINESS
IN THE STATS OF ARIZONA. ALL DISBURSEMENTS SHALL BE MADE BY
CHECK OF LAWYERS TITLE OF ARIZONA, INC. THE PARTIES FURTHER
UNDERSTAND THAT THE FUNDS DEPOSITED IN ACCOUNTS ARE
INSURED ONLY TO THE LIMIT PROVIDED BY THE FEDERAL DEPOSIT
• INSURANCE CORPORATION (FDIC) WHICH LIMIT AS OF JANUARY 1, 1996 •
• IS $100,000.00. . . •
'NOTICE OF UNINSURED MONIES PURSUANT TO ARS 6-841.03
• MONIES DEPOSITED IN AN ESCROW ACCOUNT ARE NOT INSI.RED
AGAINST.LOSS FROM FRAUD OR THEFT.BY THE STATE OF ARIZONA OR
THE UNITED STATES GOVERNMENT. This disclosure requirement appti•,s to
each•Buyer and Seller of �a Residential Dwelling. Section 6-841.02 defines a
"Residential Dwelling" as an owner occupied structure or an investment property
•
that is designated.for Residential use by four or fewer families.
•
•
.• SELLER: PUKHASER;
•
Nanest Bark Arima, N.A., a Naticnal
Banking
• Carma Financial Corporation • , asTTrust Agreement�
�
- N�Stk An�, N.A.
ir .�n of
Otv Valley, Arima, &bed
Sep6ater 1, 1996
J< , fie °
• R.A. (GinriY) LENIO, Assistant Viae Presic7etlt
FDIC WAIVER
Escrow No. 501044024DT
Date:
THE PARTIES HERETO UNDERSTAND AND AGREE THAT ALL FUNDS
DEPOSITED HEREUNDER SHALL BE DEPOSITED INTO A GENERAL
ESCROW ACCOUNT OR ACCOUNTS, INCLUDING ESCROW
SAVINGS/INVESTMENTS ACCOUNTS OF LAWYERS TITLE OF ARIZONA,
INC. WITH A STATE OR NATIONAL BANK AUTHORIZED TO DO BUSINESS
IN THE STATE OF ARIZONA. ALL DISBURSEMENTS SHALL BE MADE BY
CHECK OF LAWYERS TITLE OF ARIZONA, INC. THE PARTIES FURTHER
UNDERSTAND THAT THE FUNDS DEPOSITED IN ACCOUNTS ARE
INSURED ONLY TO THE LIMIT PROVIDED BY THE FEDERAL DEPOSIT
INSURANCE CORPORATION (FDIC) WHICH LIMIT AS OF JANUARY 1, 1996
IS $100,000.00.
NOTICE OF UNINSURED MONIES PURSUANT TO ARS 6-841.03
MONIES DEPOSITED IN AN ESCROW ACCOUNT ARE NOT INSURED
AGAINST LOSS FROM FRAUD OR THEFT BY THE STATE OF ARIZONA OR
THE UNITED STATES GOVERNMENT. This disclosure requirement applies to
each Buyer and Seller of a Residential Dwelling. Section 6-841.02 defines a
"Residential Dwelling" as an owner occupied structure or an investment property
that is designated for Residential use by four or fewer families. j
SELLER: PURCHASER:
Car àa Financial •rporation Norwest Bank Arizona N.A.
B A By:
NON-FOREIGN AFFIDAVIT
STATE OF ARIZONA )
ss
COUNTY OF PIMA•
)
The undersigned, as authorized agent of Carnia Financial Corporation,'a
Nevada corporation ("Transferor"),after being duly sworn upon his oath deposes and
says that:
Section 1445 of the Internal Revenue Code provides that a transferee of the U.S.
real property interest must withhold tax if the transferor is a foreign person. To inform
Norwest Bank Arizona N. A., as trustee under trust agreement by and between
Norwest Bank Arizona N. A. and the Town of Oro Valley, Arizona dated as of
September 1, 1996, ("Transferee"), that withholding of tax is not required upon the
disposition of Transferor's interest in the real property described on Exhibit A attached
hereto and by this reference included herein (the "Property"), the undersigned hereby
certifies the following:
1. Transferor is not a non-resident alien, foreign corporation, foreign partnership,
foreign trust,foreign estate,or other foreign person within the meaning of sections
1445 and 7701 of the Internal Revenue Code and the treasury regulations
promulgated thereunder,
2. Transferor's U.S.taxpayer identification number is 76. - 0.2 5-5 6 / ;
3. Transferor's business address is:
do David F.Burris,
Punta Gorda,FL 33950.
4. There is not other person or entity who has an ownership interest in the Property.
Transferor understands that this certification may be disclosed to the Internal I
Revenue Service by Transferee in connection with the Foreign Investment in Real
Property Tax act and that any false statement contained herein could be punished by fine,
imprisonment,or both.
Under penalty of perjury,I declare that I have examined this certification and to
the best of my knowledge and belief,it is true,correct and complete,and further declare
that I have all the authority to sign this Affidavit on behalf of Transferor.
Carma Financial Corporation,a Nevada corporation
By: . -A
Its: ()Cu - S,
SUBSCRIBED AND SWORN to before me this day of , 1976
My commission expires: 1D- 4‘//
No Pu lie
�,ss,, oFFICiAL�EAt.
VICKI P. ETHERTON j
NOTARY PUBLIC �1RIZOWA
''4$` yPIMA COUNTY
My Com..Expk••Oct.29. 1149
NO
401(11/4194)
TOTAL P.02
SUPPLEMENTAL ESCROW INSTRUCTIONS
Escrow No. 501044
Lawyers Title is hereby authorized and directed to record the enclosed Special
Warranty Deed from Norwest Bank Arizona, N.A., a national banking association, as
Trustee (the "Trustee") pursuant to that certain Trust Agreement dated September 1, 1996
with consideration to be paid by the Town to Norwest Bank Arizona, as Trustee pursuant to
the terms of a Purchase Agreement dated as of September 1, 1996, by and between the Town
as buyer and the Trustee.
NORWEST BANK ARIZONA, N.A., A NATIONAL BANKING
ASSOCIATION, AS TRUSTEE
By:
(..-12 -
R.A. (Ginny) Leino, Assistant Vice President
SKR:mep 154983.1 9/18/96
ASSIGNMENT
The undersigned hereby assigns all right, title and interest in and to the
Purchase Agreement between Carma Financial Corporation, as Seller and the Town of Oro
Valley, Arizona, as Purchaser, dated September 13, 1996 to:
NORWEST BANK ARIZONA, N.A., A NATIONAL
BANKING ASSOCIATION, AS TRUSTEE PURSUANT TO
THAT CERTAIN TRUST AGREEMENT DATED
SEPTEMBER 1, 1996 BY AND BETWEEN THE TOWN OF
ORO VALLEY, ARIZONA AND NORWEST BANK
ARIZONA, N.A.
Dated this day of September, 1996.
TOWN OF ORO VALLEY, ARIZONA
By:
Its:
NORWEST BANK ARIZONA, N.A., A NATIONAL
- BANKING ASSOCIATION, AS TRUSTEE
By• '
Cc• -
R.A. (Ginny) Leino, Assistant Vice President
SKR:mep 154974.1 9/18/96
AssamENT
The under.signed lareby assigns all right,dab and interest in.and to die
between Canna Financial Corporation,as Seller and the Town of Oro
Ver, Ar�ont, as Purchaser, dated&caetbe r 13, 19%to:
NORWEST NA, N.A.,A NATIONAL
BANKING ASSOCIATION, AS TRUST=PURSUANT TO
THAT CERTAIN TRUST AGREEMENT DATED
SEPTEMBER. 1, 1996 BY AND BETWEEN THE TOWN OF
O
VALIZY, ARIZONA AND NORWEST BANX
ARIZONA,N.A.
Dated this j 7_ day of September, 1996.
TOWN OF ORO VAUEY, ARIZONA
•
: __ttiiwszatzs..., ►
...e.__
NORWEST BANK ARIZONA, N.A., A NATIONAL
BANICENO ASSOCIATION, AS TRUSTEE
BY:
R.A. Mimi)Le ,Assistant Vice Presidnot
Maw LUAU WISAI
TOTAL P.@2
•
•
PURCHASE AGREEMENT
(TOWN OF ORO VALLEY)
This Agreement is made by and between Carma Financial Corporation a Nevada corporation,
("Seller")and Town of Oro Valley a municipal corporation or such other third party acting for and
on behalf of Town of Oro Valley whose involvement is necessary to accommodate the financing
of the transaction Y ("Purchaser")hereb contemplated with reference to the facts set forth below:
p
A. The Seller is the owner of the real property depicted
on the attached Exhibit A, together with all easements and other
appurtenances thereto (collectively,the "Property").
B. The Purchaser desires to purchase and the Seller
desires to sell the Property,and for and in consideration of the mutual
covenants set forth herein the parties hereto agree as follows:
1. Agreement to Sell. The Seller hereby agrees to sell and the Purchaser hereby
agrees to purchase the Property upon the terms and conditions set forth herein.
2. Earnest Money. Upon the delivery of a completely executed copy of this Agreement
to the escrow agent("Opening of Escrow"),the Purchaser shall also deliver to the escrow agent the
sum of Thirty Thousand Dollars ($30,000.00)as initial earnest money which shall apply towards
the purchase price. •
3. Purchase Price. The purchase price for the Property shall be the sum of Seven
Hundred Thousand Dollars($700,000.00)payable in cash or certified funds at the time of closing,
which sum shall include the earnest money.
4. Closing. The closing shall take place on or before September 24, 1996. Lawyers
Title of Arizona(Vicki Etherton) One South Church, Suite 2130,Tucson, Arizona 85701 shall act
as escrow agent and the provisions of this Agreement shall constitute joint instructions to the escrow
agent. Real property taxes and assessments shall be prorated in accordance with generally accepted
accounting principles as of the date of closing. At the time of the closing, the Seller and the
Purchaser shall equally divide all escrow and closing fees charged by the escrow agent and the
Purchaser shall pay all recording fees. All tax prorations shall be final and shall be based upon the
latest available tax information only.
5. - Appraisal Review. This Agreement is subject to the review and approval by the
Seller of that certain appraisal by Baker, Peterson, Baker & Associates dated August 2, 1996 by
September A, 1996.
6. 11 Title. Following the execution hereof,the escrow agent shall provide to the Purchaser
a Preliminary Title Report showing all matters of record affecting title to the Property. At the
closing, the Seller shall convey the Property to the Purchaser by Special Warranty Deed upon the
1516
•
escrow agent's standard form free and clear of any mortgages, deeds of trust or other security
agreements and subject to all matters of record and all matters observable upon an inspection or
accurate survey of the Property. The Deed shall state the existence of the right of first refusal that
the Purchaser grants to the Seller in paragraph below. In the event title is not in the condition
required by the preceding sentence as of the closing, then the Purchaser as its exclusive remedies
- may either waive any objections to title and proceed with closing, or terminate this Agreement, in
which latter event the Purchaser shall be entitled to a refund of the earnest money. Within a
reasonable time after the closing,the Seller at the Seller's expense shall furnish the Purchaser with
a standard owner's policy of title insurance in the full amount of the purchase price for the Property
showing the title to the Property vested in the Purchaser subject only to the matters set forth above
and the standard printed provisions of such title policy.
7. No Representations or Warranties. The Purchaser acknowledges and agrees that
neither the Seller nor its agents have made or will make any representation or warranty, express or
,
im liedincludingwithout limitation any warranties of habitability, suitability and fitness for
p
intended-pur-pose or otherwise with respect to any aspect of the Property. The Purchaser is
purchasing the Property strictly in "AS IS" condition. The Purchaser accepts and agrees to bear all
risks regarding all attributes and conditions, latent or otherwise of the Property. The Purchaser has
made or will make prior to the closing hereunder its own inspection and investigation of the Property
and surrounding area including, without limitation, its subsurface, soil, engineering and other
conditions and requirements,whether there are any eminent domain or other public or quasi-public
takings of the Property contemplated, and all zoning and regulatory matters pertaining to the
Property. The Purchaser is entering into this Agreement and purchasing the Property based upon
the results of its own inspection and investigation and not in reliance on any statement,
representation, inducement or agreement of the Seller except as specifically provided herein. The
Purchaser agrees that neither the Seller nor anyone acting on behalf of the Seller has made any
representation,covenant,guaranty or warranty whatsoever, whether written or oral, concerning the
Property except as specifically set forth herein. Any engineering data, soils reports or other
information that the Seller or any other party may have delivered to the Purchaser is furnished
without any representation or warranty whatsoever.
8. Default In the event of any default hereunder by the Purchaser,then the Seller shall
be entitled to obtain the earnest money and pursue any remedy available at law or in equity. In the
event of any default hereunder by the Seller, then the sole and exclusive remedy of the Purchaser
shall be to pursue either of the following remedies within sixty(60)days of the default: (i) cancel
this transaction and obtain a refund of its earnest money, or (ii) seek specific performance of the
obligations of the Seller hereunder. In the event the Purchaser fails to pursue either of such remedies
within sixty(60)days of the default,then the Purchaser shall be deemed to have elected the remedy
set forth in subparagraph(i) above.
9. Broker Commissions. If,as and when a closing occurs hereunder in accordance with
the terms of this Agreement, then the Seller shall pay (i) a brokerage commission to the Seller's
broker, Carlier Company. Each party hereto represents and warrants to the other that it has not
employed any broker or finder in connection with the transaction contemplated by this Agreement
other than the brokers set forth in the preceding sentence.
2
10. Notices,. Unless otherwise required by law,all notices required to be given hereunder
shall be in writing and shall be conveyed by (i) personal delivery (including by any messenger or
courier service),(ii)the United States Postal Service by certified or registered mail,postage prepaid,
with return receipt requested, or(iii) facsimile transmission, as follows:
Seller: CARMA FINANCIAL CORPORATION
c/o David F. Burris
1200 W. Retta Esplanade, Suite 58
Punta Gorda, FL 33950
Phone: (941) 575-3160
Fax: (941) 639-3793
With a
Copy to: CARLIER COMPANY
do E. Michael Carlier
3561 E. Sunrise Drive, Suite 215
Tucson, AZ 85718
Phone: (520) 529-3800
Fax: (520) 529-8110
Purchaser: TOWN OF ORO VALLEY or NORWEST BANK ARIZONA,N.A.
c/o Chuck Sweet 3300 North Central Ave.
11000 N. La Canada Drive Phoenix, AZ 85012
Oro Valley, AZ 85737
Phone: (520) 297-2591
Fax : (520) 297-0428
Escrow Agent: LAWYERS TITLE OF ARIZONA
do Vicki Etherton
One South Church, Suite 2130
Tucson, AZ 85701
Phone : (520) 740-0424
Fax: (520) 740-0436
Notice given by facsimile transmission shall be deemed to have been given upon receipt at the
number listed above, notice given by personal delivery shall be deemed to have been given upon
delivery to the appropriate address against receipt therefor(or upon refusal of acceptance),and notice
given by U.S.mail shall be deemed to have been given two days after deposit in the U.S. Mail. Each
party may designate from time to time, another address in place of the address set forth above by
notifying the other parties in the same manner as provided in this paragraph.
11. Environmental Release. The Purchaser hereby waives, releases and discharges on
behalf of itself and its successors and assigns any right, claim or cause of action that he has or may
acquire against the Seller arising out of or related to the existence of any hazardous substances,
waste, pollutants or contaminants in, on or about the Property.
3
12. Right of First Refusal. From and after the closing of the transaction described herein,
the Seller shall have the right of first refusal to purchase the Property and all portions thereof. In the
event the Purchaser desires to transfer all or any portion of the Property, it shall give notice in
writing to the Seller of its intention to transfer the Property("Notice"),and the Notice shall specify
all of the terms and conditions of the proposed disposition and the name, address and telephone
-number of the proposed buyer. The Seller shall have the right of first refusal to acquire the Property
(or such portion thereof specified in the Notice)on the same terms and conditions as are set forth in
the Notice during the 60 day period following the Seller's receipt of such Notice. In the event that
Seller does not so acquire the Property(or portion thereof specified in the Notice)within the 60 day
period following its receipt of the Notice,then the Purchaser may dispose of the Property(or portion
thereof set forth in the Notice)within 90 days thereafter to the person or entity, and upon the terms
and conditions, p
specified in the Notice. In the event the Purchaser does not dispose of the Property
(or portion thereof specified in the Notice)within such 90 day period,then the right of first refusal
shall be revived with regard to any future transfer. The Purchaser shall have no right to sell or
exchange the Property or any portion thereof for any consideration other than payment(at closing
or on terms)in United States dollars.
13. Miscellaneous. In the event of litigation to enforce the terms of this
Agreement,the prevailing party shall be entitled to receive its reasonable attorneys' fees and costs
of suit.
Time is hereby made of the essence of this Agreement.
All covenants, agreements, representations and warranties set forth herein shall
survive the closing and shall not merge into any deed or other document or instrument executed in
connection with the closing.
The wording of this Agreement has been arrived at by negotiation between the
parties, and, in the event of any ambiguity, this Agreement shall not be construed in favor of or
against any party hereto on account of such party having prepared any draft or final version hereof.
This Agreement shall be binding upon and inure to the benefit of the parties hereto
and their successors and assigns.
Unless the form is attached hereto as an exhibit,all documents and instruments to be
executed in connection with the closing of this transaction shall be upon forms customarily used by
the escrow agent in transactions of a similar nature in Pima County, Arizona.
This Agreement constitutes the entire agreement between the parties and the parties
expressly acknowledge that there are no other agreements or understandings in regard to this
transaction other than as set forth herein or contained within other written agreements referred to
herein.
4
The Seller shall execute and deliver to the Purchaser at each closing an Affidavit as
required by IRS Section 1445(b)(2) setting forth the Seller's taxpayer identification number, the
Seller's address and stating that it is not a foreign person for purposes of that section.
The waiver by any party hereto of any breach of any term, covenant or condition
contained herein shall not be deemed to be a waiver of any subsequent breach of the same or any
other term, condition or covenant contained herein.
If the date for performance of any obligation hereunder or the last day of any time
period provided for herein shall fall on a Saturday, Sunday or legal holiday, then such date for
performance or time period shall expire on the first day thereafter which is not a Saturday, Sunday
or legal holiday.
This Agreement shall be construed in accordance with the laws of the State of
Arizona. In the event of any dispute hereunder, exclusive jurisdiction and venue shall exist only in
Pima County, Arizona. •
Captions and headings as set forth herein are for reference purposes only and shall not
be used in construing this Agreement.
AGREED TO on the dates set forth opposite the signatures below.
SELLER: CARMA FINANCIAL CORP.
A Nevada Corporation
Date: y 1 3, 6By:
Its: PrI .t-
PU TOWN OF ORO VALLEY
On Behalf of the Town Council
., ' A . _4gL #
/ ' P1
Date:
C i YL S -�i SKY, MAYOR
c'ecce,(Le:
ATTEST:
Ka / Cuvelier, Town Clerk
Filed this date of , 1996 with all appropriate agencies.
•
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• .1
kuwergl
tie
0Jnsurance rporation
NATIONAL HEADQUARTERS
RICHMOND.VIRGINIA
Policy Number
89-00- 115030
SUBJECT TO THE EXCLUSIONS FROM COVERAGE, THE EXCEPTIONS CONTAINED IN SCHEDULE
B AND THE PROVISIONS OF THE CONDITIONS AND STIPULATIONS HEREOF, LAWYERS TITLE
INSURANCE CORPORATION, a Virginia corporation, herein called the Company, insures the
insured as of Date of Policy shown in Schedule A, against loss or damage, not exceeding the
amount of insurance stated in Schedule A, and costs, attorney's fees and expenses which the
Company may become obligated to pay hereunder, sustained or incurred by said insured by
reason of:
•
•
1. Title to the estate or interest described in Schedule A being vested other than as stated
herein;
2. Any defect in or lien or encumbrance on such title;
3. Unmarketability of such title; or
4. Any lack of the ordinary right of an abutting owner for access to at least one physically
open street or highway if the land, in fact, abuts upon one or more such streets or highways;
and in addition, as to an insured lender only:
5. Invalidity of the lien of the insured mortgage upon said estate or interest except to the
extent that such invalidity, or claim thereof, arises out of the transaction evidenced by
the insured mortgage and is based upon
a. usury, or
b. any consumer credit protection or truth in lending law;
6. Priority of any lien or encumbrance over the lien of the insured mortgage, said mortgage
being shown in Schedule B in the order of its priority; or
7. Invalidity of any assignment of the insured mortgage, provided such assignment is shown
in Schedule B.
IN WITNESS WHEREOF the Company has caused this Policy to be signed and sealed, to be valid
when Schedule A is countersigned by an authorized officer or agent of the Company, all in
accordance with its By-laws.
Iwyers1jtle jnsumnce Crporation
By:
4/ r Q ate,t
President
Attest:
Secretary.
® ill 111 MEM EWE EINIUMEED BIBIEBIEME !i1 KM H ! 111 El4i K 5l Ell MU
Policy 89(Rev. 1-1-88)Litho in U.S.A.
CONDITIONS AND STIPULATIONS
1. Definition of Terms The coverage of this policy shall continue in force os of Date of
Policy, in favor of an insured so long as such insured retains on estate
The following terms when used in this policy mean: or interest in the land, or owns on indebtedness secured by a purchase
(a) "insured": the insured named in Schedule A, and,subject to any rights money mortgage given by a purchaser from such insured, or so long as such
or defense the Company may hove against the named insured, those who insured shall hove liability by reason of covenants of warranty mode by
succeed to the interest of such insured by operation of law as distinguished such insured in any transfer or conveyance of such estate or interest;
from purchase including, but not limited to, heirs, distributees, devisees, provided, however, this policy shall not continue in force in favor of any
survivors, personal representatives, next of kin, or corporate or fiduciary purchaser from such insured of either said estate or interest or the
successors. The term "insured" also includes (i) the owner of the indebted- indebtedness secured by a purchase money mortgage gives)to such insured.
ness secured by the insured mortgage and each successor in ownership of
such indebtedness (reserving, however, all rights and defenses os to any 3. Defense and Prosecution of Actions-Notice of Claim to be Given by
such successor who acquires the indebtedness by operation of low os an Insured Claimant
described in the first sentence of this subparagraph (a) that the Company
would hove had against the successor's transferor), and further includes (a) The Company, at its own cost and without undue delay, shall
(ii) any government agency or instrumentality which is on insurer or provide for the defense of on insured in litigation to the extent that
guarantor under on insurance contract or guaranty insuring or guaranteeing such litigation involves on alleged defect, lien, encumbrance or other
said indebtedness, or any port thereof, whether named as an insured matter insured against by this policy.
herein or not, and (iii) the parties designated in paragraph 2(a) of these .--
Conditions and Stipulations. (b) The Insured shall notify the Company promptly in writing (i) in
case of any litigation as set forth in (a) above, (ii) in case knowledge
(b) "insured cloimont": an insured claiming loss or damage hereunder. shall come to on insured hereunder of any doim or me or interest
which is "dverse to the title to the estate or interest or the lien of
(c) "insured lender": the owner of on insured mortgage. the insured mortgage, os insured, and which might cause loss or damage
mortgage for which the Company may be liable by virtue of this policy, or (iii)
(d)
"insured mortgage": o mart a e shown in Schedule B, the owner if title to the estate or interest or the lien of the insured mart o e
of which is named os on insured in Schedule A. g g ,
os insured, is rejected as unmarketable. If such prompt notice shall not
(e) "knowledge": actual knowledge, not constructive knowledge or be given to the Company, then os to such insured all liability of the
notice which may be imputed to an insured by reason of any public Company shall cease and terminate in regard to the matter or matters
records. for which such prompt notice is required; provided, however, that failure
to notify shall in no case prejudice the rights of any such insured under
(f) "land": the land described, specifically or by reference in Schedule A this policy unless the Company shall be prejudiced by such failure and
and improvements affixed thereto which by low constitute real property; then only to the extent of such prejudice.
provided, however, the term land" does not include any area excluded
by Paragraph No. 6 of The Exclusions From Coverage of this Policy. (c) The Company shall hove the right at its own cost to institute
and without undue delay prosecute any action or proceeding or to do
(g) "mortgage": mortgage, deed of trust, trust deed, or other security any other act which in its opinion may be necessary or desirable to
instrument. establish the title to the estate or interest or the lien of the insured
(h) "public records": those records which by law impart constructive mortgage, as insured; and the Company may take any appropriate ac-
tion, whether or not it shall be liable under the terms of this policy,
notice of matters relating to the land. and shall not thereby concede liability or waive any provision of this
policy.
2. (a) Continuation of Insurance after Acquisition of Title by Insured
Lender. (d) Whenever the Company shall have brought any action or inter-
posed a defense as required or permitted by the provisions of this policy,
If this policy insures the owner of the indebtedness secured by the the Company may pursue any such litigation to final determination by
insured mortgage, this policy shall continue in force as of Date of o court of competent jurisdiction and expressly reserve the right, in
Policy in favor of such insured who acquires all or any part of the its sole discretion, to appeal from any adverse judgment or order.
estate or interest in the land described in Schedule A by foreclosure,
trustee's sole, conveyance in lieu of foreclosure, or other legal manner (e) In all cases where this policy permits or requires the Company
which discharges the lien of the insured mortgage, and if such insured to prosecute or provide for the defense of any action or proceeding,
the insured hereunder shall secure to the Company the right to so
is o corporation, its transferee of the estate or interest so acquired, prosecute or provide defense in such action or proceeding, and all
provided the transferee is the parent or wholly owned subsidiary of such appeals therein, andpermit the Company
insured; and in favor of any governmental agency or instrumentality PP p y to use, at its option, the name
which acquires all or any port of the estate or interest pursuant to a of such insured for such purpose. Whenever requested by the Company,
contract of insurance or guaranty insuring or guaranteeing the indebt- such insured shall give the Company, at the Company's expense, all
edness secured by the insured mortgage. After any such acquisition reasonable aid (1) in any such action or proceeding in effecting settlement,
the amount of insurance hereunder, exclusive of costs, attorneys' fees securing evidence, obtaining witnesses, or prosecuting or defending such
and expenses which the Company may be obligated to pay, shall not action or proceeding, and (2) in any other act which in the opinion of the
exceed the least of: Company may be necessary or desirable to establish the title to the
estate or interest or the lien of the insured mortgage, os insured, induding
(i) the amount of insurance stated in Schedule A; but not limited to executing corrective or other documents.
(ii) the amount of the unpaid principal of the indebtedness plus
interest thereon, as determined under paragraph 6(a)(iii) hereof, 4. Proof of Loss or Damage-Limitation of Action
expenses of foreclosure and amounts advanced to protect the
lien of the insured mortgage and secured by said insured mart- In addition to the notices required under Paragraph 3(b) of these
gage at the time of acquisition of such estate or interest in the Conditions and Stipulations, a proof of loss or damage, signed and
land; or sworn to by the insured claimant shall be furnished to the Company
within 90 days after the insured cloimont shall ascertain or determine
(iii) the amount paid by any governmental agency or instrumen• the facts giving rise to such loss or damage. Such proof of loss or
tality, if such agency or instrumentality is the insured claim- damage shall describe the defect in, or lien or encumbrance on the title,
ant, in acquisition of such estate or interest in satisfaction of its or other matter insured against by this policy which constitutes the basis
insurance contract or guaranty. of loss or damage, and, when appropriate state the basis of calculating the
amount of such loss or damage.
(b) Continuation of Insurance after Conveyance of Title
CONDITIONS AND STIPULATIONS--CONTINUED
•
Should such proof of loss or damage fail to state facts sufficient to enable to the extent that such payments reduce the omount of the indebtedness
the Company to determine its liability hereunder, insured cloimont, at the secured by such mortgage.
written request of Company, shall furnish such additional information as Payment in full by any person or voluntary satisfaction or release of
may reasonably be necessary to make such determination. the insured mortgage shall terminate all liability of the Company to on
No right of action shall accrue to insured claimant until 30 days after insured owner of the indebtedness secured by the insured mortgage, except
such proof of loss or damage shall hove been furnished. as provided in paragraph 2(a) hereof.
Failure to furnish such proof of loss or damage shall terminate any 9. Liability Noncumulative
liability of the Company under this policy as to such loss or damage.
It is expressly understood that the amount of insurance under this
5. Options to Pay or Otherwise Settle Claims and Options to Purchase policy, as to the insured owner of the estate or interest covered by this
Indebtedness •
policy, shall be reduced by any amount the Company may pay under
The Company shall hove the option to pay or otherwise settle for any policy insuring (a) a mortgage shown or referred to in Schedule B
or in the name of on insured claimant any claim insured against, or to hereof which is a lien on the estate or interest covered by this policy,
terminate all liability and obligations of the Company hereunder by paying or (b) a mortgage hereafter executed by on insured which is a charge or
or tendering payment of the amount of insurance under this policy together lien on the estate or interest described or referred to in Schedule A, and
with any costs, attorneys' fees and expenses incurred up to the time the amount so paid shall be deemed a payment under this policy. The
of such payment or tender of payment by the insured claimant and Company shall hove the option to apply to the payment of any such
authorized by the Company. In case loss or damage is claimed under this mortgage any amount that otherwise would be payable hereunder to the
policy by the owner of the indebtedness secured by the insured mortgage, insured owner of the estate or interest covered by this policy and the
the Company shall ha ie the further option to purchase such indebtedness omount so paid shall be deemed a payment under this policy to said insured
for the amount owing thereon together with all costs, attorneys' fees and owner.
expenses which the Company is obligated hereunder to pay. If the Com- The provisions of this paragraph 9 shall not apply to on owner of the
pony offers to purchase said indebtedness.as herein provided, the owner indebtedness secured by the insured mortgage, unless such insured acquires
of such indebtedness shall transfer and assign said indebtedness and the title to said estate or interest in satisfaction of said indebtedness or'any
mortgage and any collateral securing the some to the Company upon pay- part thereof.
ment therefor os herein provided. Upon such offer being mode by the Corn-
10. Subrogation Upon Payment or Settlement
pony, all liability and obligations of the Company hereunder to the owner
of the indebtedness secured by said insured mortgage, other than the Whenever the Company shall have paid or settled a claim under this
obligation to purchase said indebtedness pursuant to this paragraph, ore policy, all right of subrogation shall vest in the Company unaffected by
terminated. any act of the insured claimant, except that the owner of the indebtedness
6. Determination and Payment of Loss secured by the insured mortgage may release or substitute the personal
liability of any debtor or guarantor, or extend or otherwise modify the
(a) The liability of the Company under this policy shall in no case terms of payment, or release a portion of the estate or interest from
exceed the least of: the lien of the insured mortgage, or release any collateral security for the
(i) the actual loss of the insured claimant;or indebtedness, provided such act occurs prior to receipt by such insured
(ii) the omount of insurance stated in Schedule A, or, if applicable,the of notice of any claim of title or interest adverse to the title to the estate
omount of insurance as defined in paragraph 2(a)hereof;or or interest or the priority of the lien of the insured mortgage and does
(iii) if this policy insures the owner of the indebtedness secured not result in any loss of priority of the lien of the insured mortgage. The
by the insured mortgage, and provided said owner is the insured Company shall be subrogated to and be entitled to all rights and remedies
claimant, the amount of the unpaid principal of said indebtedness, which such insured claimant would hove had against any person or property
plus interest thereon, provided such amount shall not include any in respect to such claim had this policy not been issued, and the Company is
additional principal indebtedness created subsequent to Dote of hereby authorized and empowered to sue, compromise or settle in its name
Policy, except as to amounts advanced to protect the lien of the or in the name of the insured to the full extent of the loss sustained by the
insured mortgage and secured thereby. Company. If requested by the Company, the insured shall execute any and
all documents to evidence the within subrogation. If the payment does not
(b) The Company will pay, in addition to any loss insured against by cover the loss of such insured claimant, the Company shall be subrogated to
this policy, all costs imposed upon on insured in litigation carried on by such rights and remedies in the proportion which said payment bears to the
the Company for such insured, and all costs, attorneys' fees and expenses amount of said loss, but such subrogation shall be in subordination to on
in litigation carried on by such insured with the written authorization insured mortgage. If loss should result from any act of such insured claimant,
of the Company. such act shall not void this policy, but the Company,in that event,shall os to
(c) When the omount of loss or damage has been definitely fixed in such insured doimont be required to pay only that port of any losses insured
accordance with the conditions of this policy, the loss or damage shall against hereunder which shall exceed the amount,if any,lost to the Company
be payable within 30 days thereafter. by reason of the impairment of the right of subrogation.
11. Liability Limited to this Policy
7. Limitation of Liability This instrument together with all endorsements and other instruments,
No claim shall arise or be maintainable under this policy (a) if the if any, attached hereto by the Company is the entire policy and contract
Company, after having received notice of on alleged defect, lien or en- between the insured and the Company.
cumbrance insured against hereunder, by litigation or otherwise, removes Any claim of loss or damage, whether or not based on negligence, and
such defect, lien or encumbrance or establishes the title, or the lien of the which arises out of the status of the lien of the insured mortgage or of
insured mortgage, as insured, within a reasonable time after receipt of such the title to the estate or interest covered hereby, or any action asserting
notice; (b) in the event of litigation until there has been a final determine- such claim, shall be restricted to the provisions and conditions and
tion by a court of competent jurisdiction, and disposition of all appeals stipulations of this policy.
therefrom, adverse to the title or to the lien of the insured mortgage, as No amendment of or endorsement to this policy can be made except
insured, as provided in paragraph 3 hereof; or (c) for liability voluntarily by writing endorsed hereon or attached hereto signed by either the
admitted or assumed by on insured without prior written consent of the President, a Vice President,the Secretory,on Assistant Secretary,or validating
Company. officer or authorized signatory of the Company.
No payment shall be made without producing this policy for endorse-
8. Reduction of Insurance; Termination of Liability ment of such payment unless the policy be lost or destroyed, in which
case proof of such loss or destruction shall be furnished to the satisfaction
All payments under this policy, except payment mode for costs, at- of the Company.
torneys' fees and expenses, shall reduce the amount of the insurance 12. Notices, Where Sent
pro tanto; provided, however, it the owner of the indebtedness secured by
the insured mortgage is on insured hereunder, then such payments, prior All notices required to be given the Company and any statement in
to the acquisition of title to said estate or interest as provided in paragraph writing required to be furnished the Company shall include the number of
2(o) of these Conditions and Stipulations, shall not reduce pro tanto the this policy and shall be addressed to its Corporate Headquarters, 6630
amount of the insurance afforded hereunder as to any such insured, except West Brood St., Richmond, Virginia 23230.Mailing address: P.O. Box 27567,
Richmond,Virginia 23261.
A WORD OF THANKS...
= As we make your policy a part of our permanent records, we want to express our
appreciation of this evidence of your faith in Lawyers Title Insurance Corporation.
There is no recurring premium.
This policy provides valuable title protection and we suggest you keep it in a safe
place where it will be readily available for future reference.
If you have any questions about the protection provided by this policy contact the
office that issued your policy or you may write to:
Consumer Affairs Department
Iwyers1itle Insurance @poration
P.O. Box 27567
Richmond,Virginia 23261
TOLL FREE NUMBER: 1-800-446-7086
LTIC LTIC LTIC LTIC LTIC LTIC LTIC LTIC LTIC LTIC LTIC LTIC LT1C LTIC LTIC LTIC LTIC LTIC LTIC LTIC LTIC LTIC LTIC LTIC LTIC LTIC, LTIC LTIC LTIC LTIC LTIC
LTIC LTIC LTIC LTIC LTIC LTIC LTIC LTIC LTIC LTIC LTIC LTIC LTIC LTIC LTIC LTIC LTIC LTIC LTIC LTIC LTIC LTIC LTIC LTIC LTIC LTIC [TIC LTIC LU(' LII( LTIC
Iyiyers1Itle
assurance @rporation
1E11 El 111 EllilliEBIEUEEKIIMBOOMIIIIIKEEHOOMOUIEUIREEMEHIE
Lawyer
Jnsurance @rp oration
NATIONAL HEADQUARTERS
RICHMOND, VIRGINIA
STANDARD COVERAGE POLICY
SCHEDULE A
AMOUNT: $700,000.00 CASE NUMBER: 501,044 DT
EFFECTIVE DATE: September 19, 1996 at Fee No 96160036
INSURED
'Awl of Oro Valley, Arizona, a political subdivision of the State of Arizona
1. THE ESTATE OR INTEREST REFERED TO BEREIN IS AT DATE OF POLICY VESTED IN:
Town of Oro Valley, Arizona, a political subdivision of the State of Arizona
2. THE ESTATE OR INTEREST IN THE LAND DESCRIBED AND WHICH IS COVERED BY
TIES POLICY IS:
fee simple
3. THE LAND REFERRED TO IN THIS POLICY IS DESCRIBED AS FOLLOWS:
See Exhibit "A" attached hereto and me a part heraof
LAWYERS TITLE OF ARIZaa, INC.
/� ,! ISSUED AT: TUCSON, ARIZONA
CO RSIGNATURE yr-7.RIZED OFFICER OR AGENT
BW:cl SCHEDULE A,PAGE NUMBER 1 OF POLICY 89-00-115030 -
nuneauenLTAA Standard Coverage Policy Form-1974 v.01-01-88)
II mu a mu Er
Form 100
Litho in U.S.A.
035-0-100-0011
Juyers]JtIe
Insurance rp oration
NATIONAL HEADQUARTERS
RICHMOND, VIRGINIA
Schedule A
EXHIBIT "A"
A part of the Northoest Quarter of Section 11, Township 12 South, Range 13
East, Gila and Salt River Base and Meridian, Pima County, Arizona, described
as follows:
COMMEICING at the Northwest corner of the said Northsiest Quarter;
TIMM South 00 degrees 01 minutes 41 seconds East along the West line of the .
said Northwest Quarter a distance of 631.99 feet;
THENCE South 89 degrees 56 minutes 10 seconds East 75.00 feet to the POINT Ce
BEGINNING on a line 75.00 feet East of and parallel with the said West line;
THENCE North 00 degrees 01 minutes 41 seconds West along the said parallel
line a distance of 557.11 feet to a line 75.00 feet South of and parallel
with the North line of the said Northwest Quarter;
THENCE North 89 degrees 52 minutes 57 seconds East along the said parallel
line a distance of 560.00 feet;
THENCE South 00 degrees 01 minutes 41 seconds East 558.88 feet;
TIMM North 89 degrees 56 minutes 10 seconds West 560.00 feet to the POINT
OF BEGINNIIG.
CASE D.D. 501,044 DT Schedule A Page 2 No.89-00-115030
Form 100 Litho in U.S.A.
035-0-100-0011
MI MO El HI MO El 91 ill El 93 ill El Ell El MI El FE El MO El SI GI El GI ill
Jyers]Jt1e
Insurance rporation
NATIONAL HEADQUARTERS
RICHMOND, VIRGINIA
SCHEDULE B
ZBIIS POLICY DOES NOT INSURE AGAINST LOSS OR DAMAGE NOR AGAINST,COSTS,ATTORNEY'S
FEES,OR EXPENSES,ANY OR ALL OF WHICH ARISE BY REASON OF THOSE MATTERS SHOWN
IN PARTS I AND II OF THIS SCHEDULE
PART I
1.Taxes or assesments 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 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.
S.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 matters excepted under(a),(b)or(c)are shown by the public
records.
6.Any right,title,interest,estate or easement inland beyond the lines of the area specifically described or referred to
in Schedule A,or in abutting streets,roads,avenues,alleys,lanes,ways or waterways,but nothing in the paragraph shall
modify or limit the extent to which the ordinary right of an abutting owner for access to a physically open street or highway
is insured by this policy.
7.Any law,ordinance or governmental regulation(including but not limited to building and zoning ordinances and those
relating to environmental protection)restricting or regulating or prohibiting the occupancy,use or enjoyment of the land,
or regulating the character,dimensions or location of any improvement now or hereafter erected on the land,or prohibiting
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 apart„
whether or not shown by the public records at Date of Policy,or the effect of any violation of any such law,ordinance or
governmental regulation,whether or not shown by the public records at Date of Policy.
8.Rights of eminent domain or governmental rights of police power unless notice of the exercise of such rights appears in the
public records.
CONTINUED...
CASE NO. 501,044 Err SCHEDULE B PART I, PAGE NUMBER 1 OF POLICY 89-00-115030
LTAA Standard Cove : e PolicyForm1974 .01-01-88L
ECHOUREHOURIMEEE :Ti � EU� EMO EM EI BI BI E
Form 100
Litho in U.S.A.
035-0-100-0011 _ -----
assurance @rporation
NATIONAL HEADQUARTERS
RICHMOND, VIRGINIA
SCHEDULE B-PART I Cont'd.
9.Defects,liens,encumbrances,adverse claims,or other matters(a)created,suffered,assumed or agreed to by the insured
claimant; (b)not shown by the public records and not otherwise excluded from coverage but known to the insured claimant
either at date of policy or at the date such claimant acquired an estate or interest insured by this policy or acquired the
insured mortgage and not disclosed in writing by the insured claimant to the company prior to the date such insured
claimant became an insured hereunder; (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 been a purchaser or encumbrancer for value without knowledge.
10.The right or claims of title,if any,by the state of Arizona to any portion of the property described in Schedule A by.
reason of its location in a watercourse which was navigable at Statehood.
PART II
1. TAXES for the second half of the year 1996, a lien not yet due and
payable.
2. Any action, subsequent to the date hereof, by the Pima County
Assessor and Treasurer reassessing, altering and/or increasing the
current or any prior years taxes or assessments.
3. All matters as set forth in the ts, Conditions and
Restrictions in instrument:
Recorded in Docket 8092
Page 888
and amended in Docket 8245 at page 50
and amended in Docket 8259 at page 1632
and amended in Docket 8273 at page 2076
and amended in Docket 8356 at page 869
and amerxied in Docket 8594 at page 749.
and amended in Docket 9687 at page 2201
_ RITE: This exception ants any covenant, condition or restriction based
on race, color, religion, sex, handicap, familial status or national origin,
unless and only to the t that the restriction is not in violation of
state or federal law, or relates to a handicap, but goes nat discriminate
against handicapped people.
Continued.. .
CASE NO. 501,044 D►r SCHEDULE B,PAGE NUMBER 2 OF POLICY 89-00-115030
LTAA Standard Cove e Policy Form-1974(Rev.01-01-88L ,
Form 100 Litho in U.S.A.
035-0-100-0011 _ . -------- - ----
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BEREMEHERIEBIEEMEMEEHERIES19] 0093 HU HE MEE
Jvyers'1Jt1e
Insurance rporation
NATIONAL HEADQUARTERS
RICHMOND,VIRGINIA
Schedule B Part I Cont'd.
7. EASE and rights incident thereto, as set forth in instrument:
Recorded in Docket: 8622
Page: 1830
Purpose: errant golf balls
CASE NO. 501,044 DT SCHEDULE B,PAGE NUMBER 3 OF POLICY 89-00-115030
El El GI El Ell HI El RE El 111 Ell El El El 93 El El El B1 Ell 91 91 EC 93 111 El El
Form 100 Litho in U.S.A.
035-0-100-0011