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2016-014
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2016-014
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Last modified
10/21/2016 11:21:18 AM
Creation date
2/3/2016 11:51:02 AM
Metadata
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Template:
Official Documents
Official Document Type
Agreement
Approved Date
02/02/2016
Control Number
2016-014
Agenda Item Number
13.A.
Entity Name
Bent Pine Golf Club
Subject
Agreement to Purchase Real Estate Five Parcels
Kings Music Land Lots 10, 11,13, 14,15, 16
Deed.Title Insurance indemnity Agreement Settlement Statements
Area
58th Avenue Lots Bent Pine
Document Relationships
2016-139
(Cover Page)
Path:
\Official Documents\2010's\2016
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Conditions <br /> 1. The term mortgage, when used herein, shall include deed of trust, trust deed, or other security <br /> instrument. <br /> 2. If the proposed Insured has or acquired actual knowledge of any defect, lien, encumbrance, adverse <br /> claim or other matter affecting the estate or interest or mortgage thereon covered by this Commitment <br /> other than those shown in Schedule B hereof, and shall fail to disclose such knowledge to the <br /> Company in writing, the Company shall be relieved from liability for any loss or damage resulting <br /> from any act of reliance hereon to the extent the Company is prejudiced by failure to disclose such <br /> knowledge. If the proposed Insured shall disclose such knowledge to the Company, or if the <br /> Company otherwise acquires actual knowledge of any such defect, lien, encumbrance, adverse claim <br /> or other matter,the Company, at its option, may amend Schedule B of this Commitment accordingly, <br /> but such amendment shall not relieve the Company from liability previously incurred pursuant to <br /> paragraph 3 of these Conditions. <br /> 3. Liability of the Company under this Commitment shall be only to the named proposed Insured and <br /> such parties included under the definition of Insured in the form of policy or policies committed for <br /> and only for actual loss incurred in reliance hereon in undertaking in good faith (a) to comply with <br /> the requirements hereof, or (b) to eliminate exceptions shown in Schedule B, or (c) to acquire or <br /> create the estate or interest or mortgage thereon covered by this Commitment. In no event shall such <br /> liability exceed the amount stated in Schedule A for the policy or policies committed for and such <br /> liability is subject to the insuring provisions and Conditions and the Exclusions from Coverage of the <br /> form of policy or policies committed for in favor of the proposed Insured which are hereby <br /> incorporated by reference and are made a part of this Commitment except as expressly modified <br /> herein. <br /> 4. This Commitment is a contract to issue one or more title insurance policies and is not an abstract of <br /> title or a report of the condition of title. Any action or actions or rights of action that the proposed <br /> Insured may have or may bring against the Company whether or not based on negligence arising out <br /> of the status of the title to the estate or interest or the status of the mortgage thereon covered by this <br /> Commitment must be based on and are subject to the provisions of this Commitment. <br /> S. The policy to be issued will contain the following arbitration clause: <br /> Unless prohibited by applicable law, arbitration pursuant to the Title Insurance Arbitration Rules <br /> of the American Arbitration Association may be demanded if agreed to by both the Company and <br /> the Insured at the time of the controversy or claim. Arbitrable matters may include, but are not <br /> limited to, any controversy or claim between the Company and the Insured arising out of or <br /> relating to this policy,and service of the Company in connection with its issuance or the breach of <br /> a policy provision or other obligation. Arbitration pursuant to this policy and under the Rules in <br /> effect on the date the demand for arbitration is made or, at the option of the Insured, the Rules in <br /> effect at Date of Policy shall be binding upon the parties. The award may include attorneys' fees <br /> only if the laws of the state in which the Land is located permit a court to award attorneys'fees to <br /> a prevailing party. Judgment upon the award rendered by the Arbitrator(s) may be entered in any <br /> court having jurisdiction thereof. <br /> The law of the situs of the land shall apply to an arbitration under the Title Insurance Arbitration <br /> Rules. <br /> A copy of the Rules may be obtained from the Company upon request. <br /> FORM CF6(rev.12110)(With Florida Modifications) Page 2 of 2 <br /> DoubleT(me®7.0.3 <br />
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