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2022-192
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2022-192
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Last modified
11/3/2022 11:03:14 AM
Creation date
10/27/2022 12:17:49 PM
Metadata
Fields
Template:
Official Documents
Official Document Type
Miscellaneous
Approved Date
10/04/2022
Control Number
2022-192
Agenda Item Number
8.G.
Entity Name
Indian River Farms Company
Subject
Release of Right of Entry and Reservation of Mineral Right (Ocean Spray)
and Title Insurance
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Old Republic National Title Insurance Company <br />AMERICAN LAND TITLE ASSOCIATION <br />COMMITMENT <br />Schedule B -I <br />Issuing Office File Number: 588.010 <br />Requirements <br />All of the following requirements must be met: <br />I. The Proposed Insured must notify the Company in writing of the name of any party not referred to in this <br />Commitment who will obtain an interest in the Land or who will make a loan on the Land. The Company may then <br />make additional Requirements or Exceptions. <br />2. Pay the agreed amount for the estate or interest to be insured. <br />3. Pay the premiums, fees, and charges for the Policy to the Company. <br />4. Documents satisfactory to the Company that convey the Title or create the Mortgage to be insured, or both, nuist be <br />properly authorized, executed, delivered, and recorded in the Public Records. <br />A. Warranty Deed from OCEAN SPRAY CRANBERRIES, INC., a Delaware corporation to the proposed <br />insured purchaser(s). <br />5. Same Name Affidavit attesting that OCEAN SPRAY CRANBERRIES, INC., a Delaware corporation is one and the <br />same as OCEAN SPRAY CRANBERRIES, INC., a Massachusetts corporation grantee in Warranty Deed recorded <br />in O.R. Book 855, Page 250, recorded in, Public Records of Indian River County, Florida. <br />6. Satisfactory evidence must be furnished establishing that OCEAN SPRAY CRANBERRIES, INC., a Delaware <br />corporation is duly organized, validly existing, and in good standing under the laws of the jurisdiction of formation <br />from the date of acquisition through the date of transfer. <br />7. In addition to the requirements set forth for Florida entities, compliance with any requirements necessitated by the <br />laws of the foreign jurisdiction with regard to the specific entity involved in the transaction to be insured must be <br />confirmed. <br />8. For Florida corporations and foreign corporations authorized to do business in Florida, satisfactory evidence must be <br />provided establishing that the subject property is being sold in the usual and regular course of business and in <br />compliance with the articles of incorporation; if not, satisfactory evidence must be provided complying with Sec. <br />607.1202, F.S. In addition, for foreign corporations authorized to do business in Florida, satisfactory evidence of <br />compliance with the laws of its state or country must also be provided. For foreign corporations not authorized to do <br />business in Florida satisfactory evidence of compliance with applicable foreign laws must be provided. <br />9. If the instrument to be insured is to be executed by any person other than the President, Vice President, or Chief <br />Executive Officer, a resolution authorizing said person to execute the instrument on behalf of the corporation must <br />be furnished. <br />10. Satisfactory evidence must be furnished establishing that US REAL ESTATE ENTERPRISES OF FLORIDA, LLC, <br />a Florida limited liability company is duly organized, validly existing, and in good standing under the laws of the <br />jurisdiction of formation from the date of acquisition through the date of transfer. <br />11. An update of the title search must be completed just prior to the closing and the commitment must be endorsed to <br />require clearance of, or take exception for, any additional title defects or adverse matters found. <br />12. FOR INFORMATIONAL PURPOSES ONLY, a 20 -year name search was performed on US REAL ESTATE <br />ENTERPRISES OF FLORIDA, LLC, a Florida limited liability company for unsatisfied judgments and tax liens <br />(state and federal and other liens for the recovery of money) and personal names were checked for unrestored <br />incompetency and for guardianship proceedings, all of which resulted in the following, if any: None <br />This page is only a part of a 2016 ALTA Coimnibnent for Title Insurance. This Commitment is not tialid without the Notice; the ConhmlNnent to Issue <br />Policy; the CohnmUnrent Conditiatt;Schedule A; Schedule B, Part I — Requirements; and Schedule B, Part II— Exceptions. <br />Page 2 of 4 <br />FORM CF6R SCH. B -I (8/1/16XWith Florida Modifications) DoubleTimeO 9.2 <br />
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