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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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Commitment Conditions <br />DEFINITIONS <br />(a) "Knowledge" or "Known": Actual or imputed knowledge, but not constructive notice imparted by the Public Records. <br />(b) "Land": The land described in Schedule A and affixed improvements that by law constitute real property. The teen "Land" does <br />not include any property beyond the lines of the area described in Schedule A, nor any right, title, interest, estate, or easement in <br />abutting streets, roads, avenues, alleys, lanes, ways, or waterways, but this does not modify or limit the extent that a right of <br />access to and from the Land is to be insured by the Policy. <br />(c) "Mortgage": A mortgage, deed of trust, or other security instrument, including one evidenced by electronic means authorized by <br />law. <br />(d) "Policy": Each contract of title insurance, in a form adopted by the American Land Title Association, issued or to be issued by <br />the Company pursuant to this Commitment. <br />(e) "Proposed insured": Each person identified in Schedule A as (lie Proposed Insured of each Policy to be issued pursuant to this <br />Commit►nent. <br />(f) "Proposed Policy Amount": Each dollar anhouut specified in Schedule A as the Proposed Policy Amount of each Policy to be <br />issued pursuant to this Commitment. <br />(g) "Public Records": Records established under stale statutes at the Commitment Date for the purpose of imparting constructive <br />notice of matters relating to real property to purchasers for value and without Knowledge. <br />(h) "Title": The estate or interest described in Schedule A. <br />2. If all of the Schedule B, Part I -Requirements have not been met within the time period specified in the Commitment to Issue Policy, <br />this Commitment terminates and the Company's liability and obligation end. <br />3. The Compan)'s liability and obligation is limited by and this Commitment is not valid without: <br />(a) the Notice; <br />(b) the Commitment to Issue Policy; <br />(c) the Commitment Conditions; <br />(d) Schedule A; <br />(e) Schedule B, Part I -Requirements; <br />(f} Schedule 13, Part II -Exceptions; and <br />(g) a counter -signature by the Company or its issuing agent that may be in electronic form. <br />4. COMPANY'S RIGHT TO AMEND <br />The Company may amend this Commitment at any time. If the Company amends this Commitment to add a defect, Iien, encumbrance, <br />adverse claim, or other matter recorded in the Public Records prior to the Commitment Date, any liability of the Company is limited <br />by Commitment Condition 5. The Company shall not be liable for any other amendment to this Commitment. <br />5. LIMITATIONS OF LIABILITY <br />(a) The Company's liability under Commitment Condition 4 is limited to the Proposed Insured's actual expense incurred in the <br />interval between the Company's delivery to the Proposed Insured of the Commitment and the delivery of the amended <br />Commitment, resulting from the Proposed Insured's good faith reliance to: <br />(i) comply with the Schedule B, Part I -Requirements; <br />(ii) eliminate, with the Companys written consent, any Schedule B, Part II -Exceptions; or <br />(iii) acquire the Title or create the Mortgage covered by this Commitment. <br />This page is only a part of a 2016ALT4 Conmritment for Title hrsu rance. This Commitment is not valid without the Notice, the Commitment to <br />Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I — Requirements; and Schedule B, Part 11— Lsceptions. <br />FORM CF6R (8/1/16) (With Florida Modifications) Page 2 of 3 <br />DoubleTimeO 9.2 <br />
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