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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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(b) The Company shall not be liable under Commitment Condition 5(a) if the Proposed Insured requested the amendment or had <br />knowledge of the matter and did not notify the Company about it in writing. <br />(c) The Company will only have liability tinder Commitment Condition 4 if the Proposed Insured would not have incurred the <br />expense had the Commitment included the added matter when the Commitment was first delivered to tine Proposed Insured. <br />(d) The Company's liability shall not exceed the lesser of the Proposed Insured's actual expense incurred in good faith and described <br />in Commitment Conditions 5(a)(i) through 5(a)(iii) or the Proposed Policy Amount. <br />(c) The Company shall not be liable for the content of the Transaction Identification Data, if any. <br />(f) In no event shall the Company be obligated to issue the Policy referred to in this Commitment unless all of the Schedule B, Part <br />I -Requirements have been met to the satisfaction of the Company. <br />(g) In any event, the Company's liability is limited by the terms and provisions of the Policy. <br />6. LIABILITY OF THE COl11PANY MUST BE BASED ON THIS COiNIMITIIIENT <br />(a) Only a Proposed Insured identified in Schedule A, and no other person, may make a claim under this Commitment. <br />(b) Any claim must be based in contract and must be restricted solely to the terms and provisions of this Commitment. <br />(c) Until the Policy is issued, this Commitment, as last revised, is the exclusive and entire agreement between the parties with respect <br />to the subject matter of this Commitment and supersedes all prior commitment negotiations, representations, and proposals of <br />any kind, whether written or oral, express or implied, relating to the subject matter of this Commitment. <br />(d) The deletion or modification of any Schedule B, Part Il -Exception does not constitute an agreement or obligation to provide <br />coverage beyond the terms and provisions of this Commitment or the Policy. <br />(e) Any amendment or endorsement to this Commitment must be in writing and authenticated by a person authorized by the <br />Company. <br />(f) When the Policy is issued, all liability and obligation under this Commitment will end and the Company's only liability will be <br />tinder the Policy. <br />IF THIS COMMITNIENT HAS BEEN ISSUED BY AN ISSUING AGENT <br />The issuing agent is the Company's agent only for the limited purpose of issuing title insurance commitments and policies. The issuing <br />agent is not the Company's agent for the purpose of providing closing or settlement services. <br />8. PRO-FORNIA POLICY <br />The Company may provide, at the request of a Proposed Insured, a pro -forma policy illustrating the coverage that the Company may <br />provide. A pro -forma policy neither reflects the status of Title at the time that the pro -forma policy is delivered to a Proposed Insured, <br />nor is it a conunitment to insure. <br />This page is only a part ofa 2016 ALTA Commitment for Title Insurance. This Commitment is not valid without the Notice; the Commitment to <br />Issue Policy, the Commitment Conditions; Schedule A; Schedule A Part 1— Requirements; and Schedule B. Part 11— Frceptions. <br />FORM CF6R (8/1116) (With Florida Modifications) Pale 3 of 3 <br />DoubleTime) 9.2 <br />
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