HomeMy WebLinkAbout2011-172 ORIGINAL
AGREEMENT TO PURCHASE , SELL , AND LEASE REAL ESTATE 3. tJA
BETWEEN INDIAN RIVER COUNTYa`/
AND
NORTHERN TRUST, NA
Formerly known as NORTHERN TRUST BANK OF FLORIDA N.A .
THIS AGREEMENT TO PURCHASE AND SELL REAL ESTATE ("Agreement") is
made and entered into as of the 16 day of August, 2011 , by and between Indian River
County , a political subdivision of the State of Florida ("the County") , and Northern Trust
Bank of Florida , NA , (" Seller") , who agree as follows :
WHEREAS, Northern Trust Bank of Florida , NA, owns property located at 1630
Highway A1A , Vero Beach , Florida , attached to this agreement as Exhibit "A" and
incorporated by reference herein ; and
WHEREAS , the City of Vero Beach , is scheduled to improve the intersection of
Causeway Boulevard and Highway A1A in the future and the road improvement will impact
and affect Northern Trust, NA' s property; and
WHEREAS , in order for the City of Vero Beach to proceed with its intersection
improvement plans , the County needs to purchase property to be used as rigWof-way
adjacent to Highway A1A; and
WHEREAS , the County has contacted the Northern Trust , NA, of Vero Beach , and
has offered to purchase a corner clip and a strip of land containing approximately 957
square feet�or 0 . 02 acres of property from Northern Trust, NA , to be used as right-of-way.
WHEREAS , the County is prepared to take the Property by using its power of
eminent domain ; and
WHEREAS , Northern Trust, NA , and the County wish to avoid the risk, time and
expense of litigation by entering into this agreement for sale and purchase of the Property;
NOW, THEREFORE , in consideration of the mutual terms , conditions , promises ,
covenants and premises hereinafter, the COUNTY and SELLER agree as follows :
1 . Recitals . The above recitals are affirmed as being true and correct and are
incorporated herein
2 . Agreement to Purchase and Sell . The Seller hereby agrees to sell to the County ,
and the County hereby agrees to purchase from Seller, upon the terms and conditions set
forth in this Agreement, that certain parcel of real property located at 1630 Highway AIA ,
Vero Beach , Florida and more specifically described in the legal description attached as
Exhibit "A" , containing approximately 957 square feet or 0 . 02 acres , and all improvements
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together with all easements , rights and uses now or hereafter belonging thereto
(collectively, the " Property" ) . Seller, also agrees to execute a 10 feet wide temporary
construction easement , provided by the County, running along the east line of the
proposed right of way taking to be used for the purpose of tying grades into the
construction project .
2 . 1 Purchase Price , Effective Date . The purchase price ( " Purchase Price" ) for the
Property shall be $20 , 400 (Twenty Thousand Four Hundred Dollars ) , The County will also
agreed to pay the cost of 300 square feet of pavement and required parking improvements
calculated to be approximately $ 1 , 500 , plus the cost of a six ( 6 ) feet high thirty ( 30 ) feet
long masonry wall , valued at $2 , 500 . The total Purchase Price of $24 , 400 shall be paid on
the Closing Date , The Effective Date of this Agreement shall be the date upon which the
County shall have approved the execution of this Agreement, either by approval by the
Indian River County Board of County Commissioners at a formal meeting of such Board or
by the County Administrator pursuant to his delegated authority.
3 . Title . Seller shall convey marketable title to the Property by warranty deed free of
claims , liens , easements and encumbrances of record or known to Seller; but subject to
property taxes for the year of Closing and covenants , restrictions and public utility
easements of record provided ( a ) there exists at Closing no violation of any of the
foregoing ; and ( b ) none of the foregoing prevents County's intended use and development
of the Property ( " Permitted Exceptions") .
3 . 1 County may order an Ownership and Encumbrance Report or Title Insurance
Commitment with respect to the Property. County shall within fifteen ( 15 ) days following
the Effective Date of this Agreement deliver written notice to Seller of title defects . Title
shall be deemed acceptable to County if ( a ) County fails to deliver notice of defects within
the time specified , or ( b ) County delivers notice and Seller cures the defects within thirty
( 30 ) days from receipt of notice from County of title defects ( "Curative Period") . Seller shall
use best efforts to cure the defects within the Curative Period and if the title defects are not
cured within the Curative Period , County shall have thirty (30 ) days from the end of the
Curative Period to elect , by written notice to Seller, to : ( i ) to terminate this Agreement ,
whereupon shall be of no further force and effect , or ( ii ) extend the Curative Period for up
to an additional 90 days ; or ( iii ) accept title subject to existing defects and proceed to
closing .
4 . Representations of the Seller.
4 . 1 Seller is indefeasibly seized of marketable, fee simple title to the Property, and is the
sole owner of and has good right , title , and authority to convey and transfer the Property
which is the subject matter of this - Agreement , free and clear of all liens and
encumbrances .
4 . 2 From and after the Effective Date of this Agreement , Seller shall take no action
which would impair or otherwise affect title to any portion of the Property, and shall record
no documents in the Public Records which would affect title to the Property, without the
prior written consent of the County.
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4 . 3 There are no existing or pending special assessments affecting the Property, which
are or may be assessed by any governmental authority , water or sewer authority, school
district , drainage district or any other special taxing district.
5 . Default .
5 . 1 In the event the County shall fail to perform any of its obligations hereunder, the
Seller shall , at its sole option , be entitled to : ( i ) terminate this Agreement by written notice
delivered to the County at or prior to the Closing Date and thereupon neither the Seller nor
any other person or party shall have any claim for specific performance , damages , or
otherwise against the County; or ( ii ) waive the County' s default and proceed to Closing .
5 . 2 In the event the Seller shall fail to perform any of its obligations hereunder, the
County shall , at its sole option , be entitled to : ( i ) terminate this Agreement by written notice
delivered to the Seller at or prior to the Closing Date and thereupon neither the County nor
any other person or party shall have any claim for specific performance , damages or
otherwise against the Seller, or ( ii ) obtain specific performance of the terms and conditions
hereof; or ( iii ) waive the Seller' s default and proceed to Closing .
6 . Closing .
6 . 1 The closing of the transaction contemplated herein ( "Closing " and "Closing Date " )
shall take place within 45 days following the approval of the Board of County
Commissioners . The parties agree that the Closing shall be as follows :
( a ) The Seller shall execute and deliver to the County a warranty deed conveying
marketable title to the Property , free and clear of all liens and encumbrances and in the
condition required by paragraph 3 .
( b ) The Seller shall have removed all of its personal property and equipment from the
Property and Seller shall deliver possession of the Property to County vacant and in the
same or better condition that existed at the Effective Date hereof.
( c) If Seller is obligated to discharge any encumbrances at or prior to Closing and fails
to do so , County may use a portion of Purchase Price funds to satisfy the encumbrances .
( d ) If the Seller is anon-resident alien orforeign entity, Seller shall deliverto the County
an affidavit , in a form acceptable to the County , certifying that the Seller and any interest
holders are not subject to tax under the Foreign Investment and Real Property Tax Act of
1980 .
( e ) The Seller and the County shall each deliver to the other such other documents
or instruments as may reasonably be required to close this transaction .
(f) County reserves the right to acquire a boundary survey to confirm parcel
3
boundaries .
6 . 2 Taxes . All taxes and special assessments which are a lien upon the property on or
prior to the Closing Date ( except current taxes which are not yet due and payable ) shall be
paid by the Seller.
7 . Closing Costs ; Expenses . County shall be responsible for preparation of all Closing
documents .
7 . 1 County shall pay the following expenses at Closing .
7 . 1 . 1 The cost of recording the warranty deed and any release or satisfaction obtained by
Seller pursuant to this Agreement .
7 . 1 . 2 Documentary Stamps required to be affixed to the warranty deed .
7 . 1 . 3 All costs and premiums for the owner's marketability title insurance commitment and
policy , if any.
7 . 2 Seller shall pay the following expenses at or prior to Closing .
7 . 2 . 1 All costs necessary to cure title defect( s) or encumbrances , other than the
Permitted Exceptions , and to satisfy or release of record all existing mortgages , liens or
encumbrances upon the Property.
8 . Miscellaneous .
8 . 1 Controlling Law. This Agreement shall be construed and enforced in accordance
with the laws of the State of Florida . Venue shall be in Indian River County for all state
court matters , and in the Southern District of Florida for all federal court matters .
8 . 2 Condemnation . In the event that all or any part of the Property shall be acquired or
condemned for any public or quasi- public use or purpose , or if any acquisition or
condemnation proceedings shall be threatened or begun prior to the Closing of this
transaction , County shall have the option to either terminate this Agreement , and the
obligations of all parties hereunder shall cease , or to proceed , subject to all other terms ,
covenants , conditions , representations and warranties of this Agreement , to the Closing of
the transaction contemplated hereby and receive title to the Property , receiving , however,
any and all damages , awards or other compensation arising from or attributable to such
acquisition or condemnation proceedings . County shall have the right to participate in any
such proceedings .
8 . 3 Entire Agreement . This Agreement constitutes the entire agreement between the
parties with respect to this transaction and supersedes all prior agreements , written or
oral , between the Seller and the County relating to the subject matter hereof. Any
modification or amendment to this Agreement shall be effective only if in writing and
executed by each of the parties .
�I
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8 . 4 Assignment and Bindinq Effect. Neither County nor Seller may assign its rights and
obligations under this Agreement without the prior written consent of the other party. The
terms hereof shall be binding upon and shall inure to the benefit of the parties hereto and
their successors and assigns .
8 . 5 Notices . Any notice shall be deemed duly served if personally served or if mailed by
certified mail , return receipt requested , or if sent via "overnight" courier service or facsimile
transmission , as follows :
If to Seller. Rossway, Moore and Taylor, PLC
Atten : John E . Moore
2101 Indian River Boulevard , Suite 200
Vero Beach „ FL 32960
If to County . Indian River County
Attn : Land Acquisition/LGates
1801 27th Street
Vero Beach , FL . 32960
Either party may change the information above by giving written notice of such change as
provided in this paragraph .
8 . 6 Survival and Benefit . Except as otherwise expressly provided herein , each
agreement , representation or warranty made in this Agreement by or on behalf of either
party , or in any instruments delivered pursuant hereto or in connection herewith , shall
survive the Closing Date and the consummation of the transaction provided for herein .
The covenants , agreements and undertakings of each of the parties hereto are made
solely for the benefit of, and may be relied on only by the other party hereto , its successors
and assigns , and are not made for the benefit of, nor may they be relied upon , by any other
person whatsoever.
8 . 7 Attorney' s Fees and Costs . In any claim or controversy arising out of or relating to
this Agreement , each party shall bear its own attorney' s fees , costs , and expenses .
8 . 8 . Counterparts . This Agreement may be executed in two or more counterparts , each
one of which shall constitute an original .
8 . 9 . County Approval Required : This Agreement is subject to approval by the Indian
River County as set forth in paragraph 2 .
8 . 10 Beneficial Interest Disclosure : In the event Seller is a partnership , limited
partnership , corporation , trust , or any form of representative capacity whatsoever for
others , Seller shall provide a fully completed , executed , and sworn beneficial interest
disclosure statement in the form attached to this Agreement as an exhibit that complies
with all of the provisions of Florida Statutes Section 286 . 23 prior to approval of this
5
Agreement by the County. However, pursuant to Florida Statutes Section 286 . 23 ( 3 ) ( a ) ,
the beneficial interest in any entity registered with the Federal Securities and Exchange
Commission , or registered pursuant to Chapter 517 , Florida Statutes , whose interest is for
sale to the general public , is exempt from disclosures and where the Seller is a non-public
entity , that Seller is not required to disclose persons or entities holding less than five ( 5 % )
percent of the beneficial interest in Seller.
IN WITNESS WHEREOF , the undersigned have executed this Agreement as of the date
first set forth above .
INDIAN RIVER COUNTY , FLORIDA NORTHERN TRUST , NA
B OF COUNTY COMMISSIONERS
de to
Bob Solari , Chairman E . Paul Dunn , Senior Vice President ate
tln. .tll . pyp
60 IISSIpN• .,•4 //
•r'�r;
At 90
'c �.�CC August 16 , 2011
: ; Date
O . , •
• . �
A066 60 o
on , Clerk o uit Co. urt
A- .
Deputy Clerk
Approved a Form nd Legal Sufficiency: Approved :
so
County Athirney ?seph A . Baird , County Administrator
6
EXHIBIT A
17th sTFEETT
CAUSEWAY BLVD. (PLAT)
0
P. . Be
0
N.W. CORNER SOUTHERLY RIGHT
UNNUMBERED N89"3fi'48"E OF WAY LINE - ,
TRIANGULAR
PARCEL 29.18' f7
N17 679 / INDIAN BAY
1
17.67 % P.9. 3,
5p / PG. 43
29.79' a
\ S3610159"W
I .
957 SD. FT. \\ R=5675.65
0.02 ACRES L=132.70
10 �' 6=1 '20'22"
T=66.35
\ R=5679.65 \\ CB=S17'59'29'E GRAPHIC SCALE
\ L=153.41 \ CD=132 69 ( o 15 30
X1 '32'51 " \
T=76.71
CE
CB=N78'00133"W \ 1 ,458 o FT. ( IN FEE )
\ CD=153.41 0.03 ACRES 1 inch 30 !L
Q+ WESTERLY LINE OF
AVENUE "K" (CLUB DRIVE)
9 c8 12.72•
\ R. 500'23"13"E
\ I
/Y
NOTES:
7. THE SCALE OF THIS DRAWING MAY HAVE BEEN DISTORTED DURING REPRODUCTION
PROCESSES.
Z. THE BEARING BASF FOR THIS SKETCH AND LEGAL DESCRIPTION IS THE EASTERLY RIGHT OF WAY LINE OF
STATE ROAD A-1—A. SAID LINE BEARS NORTH 17'13'52" WEST.
F
3. THIS IS A SKETCH OF LEGAL DESCRIPTION ONLY, NOT A BOUNDARY RETRACEMENT SURVEY.
= CENTERLINE
— — — — = RIGHT OF WAY LINE
PARCEL BOUNDARY
R = RADUIS www VEMIM cotommnNv — rAllwl — PCs
L = LENGTH nes e"Nr. error " I4a ons ra ar eea P"v.er
T = TANGENT Baa
"w rt.een eneee N. nM+ oaa aer. kor .e" aeda =e
C = DELTA = e� Na please = % PreOb" pw eaN Abw}ma h r�
CB = CHORD BEARNG sm'r-a ^phs A"d a "u' down" ^ ro a"ue" 'az°T'
!R"1!e bYedles A"C Net !Ma 6e f m 4 o baa onJ a ba%g
CD = CHORD DISTANCE nKo..arm� tn..ar ro rM oaw e. w' r"onrw and ess
b ST. RD. = STATE ROAD �+ ro "I F- Aom e".".
P.O.B. = POINT OF BEGINNING C ' d:z �
C = CENTERLINE EG aeeeroe '7 "
Ma em
TCE = TEMPORARY CONSTRUCTION DAM �
EASEMENT war VAW nrVWr 7F! 5WHANLE AD WE CNOWL "M SM
ar Aer RAW uowam SLWW Gr AW MAMM AWOL
9 A3=*00Po '�'� RIGHT OF WAY DEDICATION s+nr ens
and A: , Ilm �/o7 A-1 -A 8r 17TH STREET
r= M,m =ea.ae� � � K 1 OF 2
°® " mor» cr�mp03*�" �y CITY OF VERO BEACH, FLORIDA
LEGAL DESCFUFnON
ALL THAT CERTAIN PIECE, PARCEL OR TRACT OF LAND SITUATE, LYING AND BEING A
PORTION OF THE UNNUMBERED TRIANGULAR PARCEL OF PROPERTY LOCATED IN THE
NORTHEAST CORNER OF INDIAN BAY, ACCORDING TO THE PLAT THEREOF AS RECORDED IN
PLAT BOOK 3, PAGE 43, PUBLIC RECORDS OF INDIAN RIVER COUNTY, FLORIDA, LYING SOUTH
OF CAUSEWAY BOULEVARD, EAST OF STATE ROAD A-1 -A AND WEST OF AVENUE K. SAID
LANDS LYING AND BEING IN INDIAN RIVER COUNTY, FLORIDA. SAID LANDS BEING MORE
PARTICULARLY DESCRIBED AS FOLLOWS, TO NIT;
BEGINNING AT THE NORTHWEST CORNER OF SAID UNNUMBERED TRIANGULAR PARCEL,
THENCE, BEARING NORTH 89'36148" EAST, ALONG THE SOUTHERLY RIGHT OF WAY LINE OF
17TH STREET (CAUSEWAY BLVD.), A DISTANCE OF 29.18 FEET TO A POINT;
THENCE, LEAVING SAID SOUTHERLY RIGHT OF WAY UNE, BEARING SOUTH 3610059` WEST, A
DISTANCE OF 29.79 FEET TO A POINT;
SAID POINT BEING THE BEGINNING OF A NON TANGENT CURVE CONCAVE EASTERLY, HAVING
A RADIUS OF 5,675.65 FEET, A CENTRAL ANGLE OF 0120'22", A CHORD DISTANCE OF
13269 FEET BEARING SOUTH 17'59929' EAST;
THENCE, SOUTHERLY ALONG THE ARC OF SAID CURVE, A DISTANCE OF 132.70 FEET TO A
POINT ON THE WESTERLY RIGHT OF WAY UNE OF AVENUE K (CLUB DRIVE);
THENCE, BEARING SOUTH 0023'13" EAST, ALONG SAID . WESTERLY RIGHT OF WAY UNE OF
AVENUE K (CLUB DRIVE), A DISTANCE OF 12.72 FEET TO A POINT ON THE EASTERLY RIGHT
OF WAY UNE OF STATE ROAD A-1 -A;
SAID POINT BEING THE BEGINNING OF A NON TANGENT CURVE CONCAVE EASTERLY, HAVING
A RADIUS OF 5,679.65 FEET, A CENTRAL ANGLE OF 01 '32'51 ", A CHORD DISTANCE OF 153.41
FEET BEARING NORTH 18&00'33" WEST;
THENCE, NORTHERLY ALONG THE ARC OF SAID CURVE AND SAID EASTERLY RIGHT OF WAY
€ UNE, A DISTANCE OF 153.41 FEET TO A POINT;
a THENCE, BEARING NORTH 177,3052" WEST, ALONG SAID EASTERLY RIGHT OF WAY LINE, A
DISTANCE OF 17.67 FEET TO THE POINT OF BEGINNING.
THE ABOVE DESCRIBED PREMISES CONTAIN AN AREA OF 957 SQUARE FEET OR 0.02 ACRES,
3 MORE OR LESS. SUBJECT TO ALL EASEMENTS, CONDITIONS AND RESTRICTIONS AS CONTAINED
@@ WITHIN THE CHAIN OF TITLE.
5
NA
9
k
RIGHT OF WAY DEDICATION 'HM `
2M/07 RIGHT
ra " mn �swxoei we „m,,,n ,m A-1-A & 17TH STREET
�' M,6"W 047MMO CITY OF VERO BEACH, FLORIDA
b rswuw�wmi� u a�
-
2171845
THIS DOCUMENT HAS BEEN
RECORDED IN THE PUBLIC RECORDS
OF INDIAN RIVER COUNTY FL
BK : 2532 PG :2173 , Paget of 3
11/01/2011 at 12 : 33 PM , DOC STAMPS D
p� $ 170 .80
U JEFFREY K BARTON, CLERK OF
(� After Recording Return To. COURT
Kevin M. Barry, Esquire
Rossway Moore Taylor & Swan
2101 Indian River Boulevard, Suite 200
Vero Beach, Florida 32960
(772) 231-4440
Parcel IDNo: 33-40-05-00010-0000-00000/I
SPECIAL WARRANTY DEED
THIS INDENTURE is made this 2.1 day of October, 2011 , by THE NORTHERN
TRUST COMPANY, a corporation existing under the laws of the State of Illinois, formerly
known as NORTHERN TRUST, NA, formerly known as NORTHERN TRUST BANK OF
FLORIDA, NA, formerly known as THE BEACH BANK OF VERO BEACH, whose address is
50 La Salle Street, Chicago, Illinois 60603 (hereinafter referred to as " Grantor"), in favor of
INDIAN RIVER COUNTY, a political subdivision of the State of Florida, whose address is
1801270' Street, Vero Beach, Florida 32960 (hereinafter referred to as " Grantee" ).
WITNESSETH•
That said Grantor, for and in consideration of the sum of TEN and NO/ 100 ($ 10 . 00)
DOLLARS and other good and valuable consideration to said Grantor in hand paid, the receipt and
sufficiency of which are hereby acknowledged, does hereby grant, bargain, sell, transfer, and convey
to the said Grantee, and Grantee's heirs, successors, and assigns forever, the following described
property, to-wit:
See Exhibit "A" attached hereto and incorporated herein by reference.
Subject to the following .
1 . Taxes subsequent to December 31 , 2010; and
2 . Covenants, conditions, restrictions, easements, and
limitations of record, without thereby reimposing the
same, and all applicable zoning ordinances,
and said Grantor, subject to the foregoing, does hereby specially warrant the title to said lands
and will defend the same against the lawful claims of all persons whomsoever.
TOGETHER WITH all tenements, hereditaments, and appurtenances benefitting and
appertaining to the said land.
IN WITNESS WHEREOF, Grantor has caused these presents to be executed on the day
and year set forth below.
Signed, sealed, and delivered in "GRANTOR"
the presence of:
THE NORTHERN TRUST COMPANY
IJAXAwr� By:
(Marne ; =sit o "ADUNK, Senior Vice President
(Name :
STATE OF ILLINOIS )
) ss:
COUNTY OF COOK )
The foregoing instrument was acknowledged and sworn before me this �,� day of
October, 2011 by E. PAUL DUNN, as Senior Vice President of The Northern Trust Company, a
corporation existing under the laws of the State of Illinois, on behalf of said corporation. Said
party is personally known to me or has produced his current driver' s license as identification.
Q .
NOTARY PUBLIC, State of Illinois
(Name : 7rR f e SA A . BLlRCH ELO
My commission expires : Oth � 2015 (Affix Seal)
Official Seal
Theresa A Burchell
Notary Public State of Illinois
My Commission Expires 08/12/2015
F.• WoorelRealestate-CorplClientsWmRWorlhern Trust BanMEW Land IssuesWale To FDOnConveyance DocumenislSpectal Warranty DeedDoc
EXHIBIT " A "
DESCRIP'IION .
ALL 1HAT CERTAIN PW= PARCEL OR TRACT, W LAND S7UAM LYING AND BOND A
PORI= OF THE UNNUNNEM 1RIANGLI,AR PARCEL OF PROPERTY LOWED IN THE
• NORTHFJST CORNER OF INDIAN BAY ACJORDING TO THE PLAT THEREOF AS RECORDED IN
PLAT BOOR 3, PAGE 43, PUBLIC REEORDS OF MAN RIM CMXM, FLCINIM LYING SOUTH
OF CAUSEWAY BOULEVARD, EAST OF STATE ROAD A=4�A, AND WEST OF AVENUE K SAID
LANDS LYING AND 660 IN INDIAN RIVER COUNTY, FLORIDA SAN) LANDS WING IAOBE
PARTICLILARLY DESCRIBED AS FO11. n TO WIT,
BEGINNING AT 1HE NOR"EST CMM OF SAID UNMMERED TRIANWLAR PARCEL,
THENCFw BEARING NORTH 8DW48 FAST. MONO THE SOLMERLY RIGHT !S WAY LONE OF
17TH BTREEI' (CAUSEWAY BLVDa, A DISTANCE OF $8.18 MET TO A PONNr
THENCE, LEAVING SAID SOVR1ERt.Y RIGHT OF WAY M BEARING IaJW 38.10$8' Mr. A
DISTANCE OF 79.75 FEET TO A POINT;
SAID POINT KIND WE BEGINNING OF A NON TANGENT CURVE CONCAVE EA57E.RLY. HAVING
A RADIUS OF 3,075.88 FEET, A CIMI RAL ANUM OF 012022', A C HOAD DISTANCE OF
13288 FEET BEARING SOUTH 17'88'28' EAST;
• THENCE, SOGIHERLY ALONG THE ARC OF SAID CURVE, A DISTANCE OF 13270 FEET TO A
POUT ON THE WESTERLY NGiT OF WAY LITE OF AVENUB -X (CWS DRIVE};
or
A K (C1 U8 OMW,% A DISTTANCE ZIOF 1A2*7722 FEET TD A POINT 024 THE EAsmLY RIGHT
OF WAY LINE OF STATE ROAD A-•1—A1
SAID POINT BEING THE BEGINNING OF A NON TANGENT CURVE CONCAVE EASTERLY. HAVING
A RADIUS OF 0,875.85 FEET, A CENTRAL ANGLE OF Waft". A CHORD DISTANCE OF 193.41
FYET BEARING NORTH IIMW33` WIS7;
A THENCE, NOMIERLY ALONG THE ARC OF SAID CURYE AND SAID EASTERLY RIGKT OF WAY
LINE, A DISTANCE OF 153.+1 FEET TO A POINTY
aTHENCE, SEAWNG NORTH 17'(3.82' WEST,, ALONG SAID EASTERLY WORT OF WAY LINE, A
1 DISTANCE OF 17.67 FEET TO 7W POINT OF BEGNNING.
d THE ABOVE DESCRIBED PREUISES CONTAIN AN AREA OF 867 SOVARE FEET OR QO2 ACRES,
MORE OR LESS. SUBJECT TO ALL EA5E11ENTS, CONDITIONS AND RESTRICTIONS AS CONTAINED
8 "IN THE CKAIN OF T=
d
a
l=l Ra
Ag "" �°"' RIGHT OF WAY DEDICATION
6 ., "067ord . A•IsA8 it) STREET 2OF2
® ;w pyo CM OF VERO 6E ACH, FLORIDA
3
Ct1mt'rio11weafth
uNo nxu c+wcuauuce coar, nr
POLICY NO. : FI,0230-81 -3318-053-2012 .8130609-85862088
OWNER' S POLICY OF TITLE INSURANCE
Issued by
Commonwealth Land Title Insurance Company
Any notice of claim and any other notice or statement In writing required to be given to the Company under this Policy
must be given to the Company at the address shown in Section 18 of the Conditions.
COVERED RISKS
SUBJECT TO THE EXCLUSIONS FROM COVERAGE, THE EXCEPTIONS FROM COVERAGE CONTAINED IN SCHEDULE B , AND
THE CONDITIONS , COMMONWEALTH LAND TITLE INSURANCE COMPANY, a Nebraska corporation , (the "Company")
insures, as of Date of Policy, against loss or damage, not exceeding the Amount of Insurance, sustained or incurred by
the
Insured by reason of:
1 . Title being vested other than as stated in Schedule A.
2 . Any defect in or lien or encumbrance on the Title. This Covered Risk includes but is not limited to insurance against
loss
from
(a) A defect in the Title caused by
(i) forgery, fraud , undue influence , duress ; incompetency, incapacity, or impersonation ;
(ii) failure of any person or Entity to have authorized a transfer or conveyance;
(iii) a document affecting Title not properly created , executed , witnessed , sealed , acknowledged , notarized ,
or
. O 9 P P Y
delivered ;
(iv) failure to perform those acts necessary to create a document by electronic means authorized by law;
(v) a document executed under a falsified , expired , or otherwise invalid power of attorney ;
(vi) a document not properly filed , recorded , or indexed in the Public Records including failure to perform those
acts by electronic means authorized by law; or
(vii) a defective judicial or administrative proceeding .
( b) The lien of real estate taxes or assessments imposed on the Title by a governmental authority due or payable,
but
unpaid .
(c) Any encroachment , encumbrance , violation , variation , or adverse circumstance affecting the Title that would
be
disclosed by an accurate and complete land survey of the Land . The term "encroachment" includes encroachments
of existing improvements located on the Land onto adjoining land , and encroachments onto the Land ,of existing
improvements located on adjoining land .
3 . Unmarketable Title ,
4 . No right of access to and from the Land .
5 . The violation or enforcement of any law, ordinance, permit, or governmental regulation (including those
relating to
building and zoning) restricting , regulating , prohibiting , or relating to
(a) the occupancy , use , or enjoyment of the Land ;
(b) the character, dimensions , or location of any improvement erected on the Land ;
(c) the subdivision of land ; or
(d) environmental protection
if a notice , describing any part of the Land , is recorded in the Public Records setting forth the violation or intention
to
ALTA Owner's Policy (6/17/06)
8130609 1 of 8 (with Florida Modifications)
Copyright American Land Title Association. All rights reserved. The use of this Form is restricted to ALTA licensees and ALTA MONSOON
am
members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title ,
Association
r i
enforce, but only to the extent of the violation or enforcement referred to in that notice .
6 . An enforcement action based on the exercise of a governmental police power not covered by Covered Risk 5 if a notice
of the enforcement action , describing any part of the Land , is recorded in the Public Records , but only to the extent
of the
enforcement referred to in that notice.
7 . The exercise of the rights of eminent domain if a notice of the exercise, describing any part of the Land , is
recorded in
the Public Records,
8 . Any taking by a governmental body that has occurred and is binding on the rights of a purchaser
for value without
Knowledge.
9. Title being vested other than as stated in Schedule A or being defective
(a) as a result of the avoidance in whole or in part , or from a court order providing an alternative remedy ,
of a transfer
of all or any part of the title to or any interest in the Land occurring prior to the transaction vesting Title as
shown in
Schedule A because that prior transfer constituted a fraudulent or preferential transfer under federal bankruptcy ,
• state insolvency , or similar creditors ' rights laws ; or
(b) because the instrument of transfer vesting Title as shown in Schedule A constitutes a preferential transfer under
federal bankruptcy , state insolvency, or similar creditors' rights laws by reason of the failure of its recording in
the
Public Records
( i ) to be timely , or {
( ii ) to impart notice of its existence to a purchaser for value or to a judgment or lien creditor .
10 . Any defect in or lien or encumbrance on the Title or other matter included in Covered Risks 1 through 9 that
has been
created or attached or has been filed or recorded in the Public Records subsequent to Date of Policy and prior to
the
recording of the deed or other instrument of transfer in the Public Records that vests Title as shown in Schedule A .
The Company will also pay the costs, attorneys' fees , and expenses incurred in defense of any matter insured against by this
Policy, but only to the extent provided in the Conditions.
In Witness Whereof, COMMONWEALTH LAND TITLE INSURANCE COMPANY , has caused this policy to be signed and
sealed as of Date of Policy shown in Schedule A, the policy to become valid when countersigned by an authorized signatory of
the Company .
FL0230 3318-053 COMMONWEALTH LAND TITLE INSURANCE COMPANY
Rossway Moore Taylor & Swan, PLC ant e
2101 Indian River Blvd., Suite 200 " ' Alper �...
Vero Beach, FL 32960-5235 EAL
Tel : (772) 231 -4440
Fax : (772) 2314430 + F
sa rroy
Countersigned :
Authorized Signatory
Kevin M. Barry, Esquire
i
ALTA Owner's Policy (6/17/06)
8130609 2 of 8 (with Florida Modifications)
Copyright American Land Title Association. All rights reserved. The use of this Form is restricted to ALTA licensees and ALTA
members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title
Association
i
EXCLUSIONS FROM COVERAGE
The following matters are expressly excluded from the coverage of this policy , and the Company will not pay loss
or
damage , costs, attorneys' fees , or expenses that arise by reason of:
1 . (a) Any law, ordinance , permit, or governmental regulation (including those relating to building and
zoning)
restricting , regulating , prohibiting , or relating to
(i) the occupancy , use , or enjoyment of the Land ;
(ii) the character, dimensions, or location of any improvement erected on the Land ;
(iii ) the subdivision of land ; or
( iv) environmental protection ;
or the effect of ' any violation of these laws, ordinances, or governmental regulations. This Exclusion 1 (a) does
not modify or limit the coverage provided under Covered Risk 5 .
(b) Any governmental police power. This Exclusion 1 (b) does not modify or limit the coverage provided under
Covered Risk 6 .
i
2 . Rights of eminent domain . This Exclusion does not modify or limit the coverage provided under Covered Risk 7
or 8 .
3 . Defects , liens , encumbrances , adverse claims , or other matters a
(a) created , suffered, assumed, or agreed to by the Insured Claimant; !
(b) not o Known to the Company , not recorded in the Public Records at Date of Policy , but
Known to the
Insured Claimant and not disclosed in writing to the Company by the Insured Claimant prior to the date
the Insured Claimant became an Insured under this policy ;
(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 that would not have been sustained if the Insured Claimant had paid value
for
the Title.
4 . Any claim , by reason of the operation of federal bankruptcy , state insolvency , or similar creditors' rights laws , that
the transaction vesting the Title as shown in Schedule A, is j
( a) a fraudulent conveyance or fraudulent transfer; or
( b) . a preferential transfer for any reason not stated in Covered Risk 9 of this policy.
5 . Any lien on the Title for real estate taxes or assessments imposed by governmental authority and created
or
attaching between Date of Policy and the date of recording of the deed or other instrument of transfer
in the
Public Records that vests Title as shown in Schedule A.
1
i
ALTA Owner's Policy (6/17/06)
8130609 3 of 8 (with Florida Modifications)
Copyright American Land Title Association. All rights reserved. The use of this Form is restricted to ALTA licensees and ALTA
members in good standing as of the date of use. All other uses are prohibited . Reprinted under license from the American Land Title
Association
i i I
CONDITIONS
1 . DEFINITION OF TERMS
The following terms when used in this policy mean : c
(a) "Amount of Insurance" : The amount stated in Schedule A, as may be increased or decreased by endorsement to
this policy , increased by Section 8(b) , or decreased by Sections 10 and 11 of these Conditions .
(b) " Date of Policy" . The date designated as " Date of Policy" in Schedule A.
(c) " Entity" . A corporation , partnership , trust , limited liability company, or other similar legal entity.
(d) " Insured " . The Insured named in Schedule A.
( i) The term "Insured" also includes
(A) successors to the Title of the Insured by operation of law as distinguished from purchase , including
heirs, i
devisees , survivors , personal representatives , or next of kin ;
(B) successors to an Insured by dissolution , merger, consolidation , distribution , or reorganization ;
(C) successors to an Insured by its conversion to another kind of Entity;
(D) a grantee of an Insured under a deed delivered without payment of actual valuable consideration conveying
the Title
(1 ) if the stock, shares, memberships, or other equity interests of the grantee are wholly-owned by the
named Insured ,
(2) if the grantee wholly owns the named Insured,
(3) if the grantee is wholly-owned by an affiliated Entity of the named Insured, provided the affiliated Entity
and the named Insured are both wholly-owned by the same person or Entity, or
(4) if the grantee is a trustee or beneficiary of a trust created by a written instrument established by
the
Insured named in Schedule A for estate planning purposes.
(ii) With regard to (A) , (B) , (C) , and (D) reserving , however, all rights and defenses as to any successor
that the
Company would have had against any predecessor Insured .
(e) " Insured Claimant": An Insured claiming loss or damage .
(f) " Knowledge" or "Known" : Actual knowledge , not constructive knowledge or notice that may be imputed to
an
Insured by reason of the Public Records or any other records that impart constructive notice of matters affecting
the Title .
(g) "Land" : The land described in Schedule A, and affixed improvements that by law constitute real property.
The
term "Land" does not include any property beyond the lines of the area described in Schedule A, nor any right,
title , interest , estate , or easement in abutting streets , roads , avenues , alleys , lanes , ways , or waterways , but
this
does not modify or limit the extent that a right of access to and from the Land is insured by this pplicy .
(h) "Mortgage": Mortgage , deed of trust , trust deed , or other security instrument, including one
evidenced by
electronic means authorized by law. {
(i) "Public Records" : Records established under state statutes at Date of Policy for the purpose of
imparting
constructive notice of matters relating to real property to purchasers for value and without Knowledge .
With
respect to Covered Risk 5(d) , "Public Records" shall also include environmental protection liens filed
in the
records of the clerk of the United States District Court for the district where the Land is located .
(j) "Title" : The estate or interest described in Schedule A.
(k) "Unmarketable Title" : Title affected by an alleged or apparent matter that would permit a prospective purchaser
or lessee of the Title or lender on the Title to be released from the obligation to purchase , lease , or lend if there
is
a contractual condition requiring the delivery of marketable title.
i
a
2 . CONTINUATION OF INSURANCE
The coverage of this policy shall continue in force as of Date of Policy in favor of an Insured , but only so
long as the
Insured retains an estate or interest in the Land , or holds an obligation secured by a purchase
money Mortgage
given by a purchaser from the Insured , or only so long as the Insured shall have liability by reason of warranties
in
any transfer or conveyance of the Title. This policy shall not continue in force in favor of any purchaser from
the
Insured of either (i) an estate or interest in the Land , or ( ii) an obligation secured by a purchase money
Mortgage
given to the Insured .
3. NOTICE OF CLAIM TO BE GIVEN BY INSURED CLAIMANT
The Insured shall notify the Company promptly in writing (i) in case of any litigation as set forth in Section 5
(a) of these
ALTA Owner's Policy (6/17/06)•
8130609 4 of 8 (with Florida Modifications)
Copyright American Land Title Association. All rights reserved. The use of this Form is restricted to ALTA licensees and ALTA
members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title
Association
Q
Conditions , (ii) in case Knowledge shall come to an Insured hereunder of any claim of title or interest that is adverse to
the Title , as insured , and that might cause loss or damage for which the Company may be liable
by virtue of this
policy, or (iii) if the Title, as insured , is rejected as Unmarketable Title . If the Company is prejudiced
by the failure of
the Insured Claimant to provide prompt notice , the Company's liability to the Insured Claimant under the policy
shall
be reduced to the extent of the prejudice.
4. PROOF OF LOSS
In the event the Company is unable to determine the amount of loss or damage, the Company may , at
its option ,
require as a condition of payment that the Insured Claimant furnish a signed proof of loss . The proof
of loss must
describe the defect , lien , encumbrance, or other matter insured against by this policy that constitutes the basis of
loss
or damage and shall state , to the extent possible , the basis of calculating the amount of the loss or damage.
a
S. DEFENSE AND PROSECUTION OF ACTIONS
(a) Upon written request by the Insured , and subject to the options contained in Section 7 of these Conditions
, the
Company , at its own cost and without unreasonable delay , shall provide for the defense of an
Insured in
litigation in which any third party asserts a claim covered by this policy adverse to the Insured . This obligation
is
limited to only those stated causes of action alleging matters insured against by this policy . The Company shall
have the right to select counsel of its choice (subject to the right of the Insured to object for reasonable
cause)
to represent the Insured as to those stated causes of action . It shall not be liable for and will not pay
the fees
of any other counsel . The Company will not pay any fees , costs , or expenses incurred by the Insured
in the
defense of those causes of action that allege matters not insured against by this policy.
(b) The Company shall have the right , in addition to the options contained in Section 7 of these Conditions ,
at its
own cost , to institute and prosecute any action or proceeding or to do any other act that in its opinion may
be
necessary or desirable to establish the Title , as insured , or to prevent or reduce loss or
damage to the
Insured . The Company may take any appropriate action under the terms of this policy , whether or not it shall
be liable to the Insured . The exercise of these rights shall not be an admission of liability or waiver
of any
provision of this policy . If the Company exercises its rights under this subsection , it must do so diligently .
(c) Whenever the Company brings an action or asserts a defense as required or permitted by this
policy , the
Company may pursue the litigation to a final determination by a court of competent jurisdiction
, and it
expressly reserves the right , in its sole discretion , to appeal any adverse judgment or order.
6. DUTY OF INSURED CLAIMANT TO COOPERATE i
(a) In all cases where this policy permits or requires the Company to prosecute or provide for the defense
of any
action or proceeding and any appeals , the Insured shall secure to the Company the right to so
prosecute or
provide defense in the action or proceeding , including the right to use , at its option , the name of the Insured
for a
this purpose . Whenever requested by the Company , the Insured , at the Company's expense , shall give
the
Company all reasonable aid ( i) in securing evidence , obtaining witnesses , prosecuting or defending the action or
proceeding , or effecting settlement , and ( ii) in any other lawful act that in the opinion of the Company
may be
necessary or desirable to establish the Title or any other matter as insured . If the Company is prejudiced by the
failure of the Insured to furnish the required cooperation , the Company's obligations to the Insured under
the
policy shall terminate , including any liability or obligation to defend , prosecute , or continue any litigation
, with
regard to the matter or matters requiring such cooperation .
( b) The Company may reasonably require the Insured Claimant to submit to examination under oath
by any
authorized representative of the Company and to produce for examination , inspection , and copying , at
such
reasonable times and places as may be designated by the authorized representative of the Company , all records ,
in whatever medium maintained , including books , ledgers , checks , memoranda , correspondence, reports ,
(c) e-mails , disks , tapes , and videos whether bearing a date before or after Date of Policy , that reasonably pertain
to
the loss or damage . Further, if requested by any authorized representative of the Company, the Insured Claimant
shall grant its permission , in writing , for any authorized representative of the Company to examine , inspect , and
ALTA Owner's Policy (6117/08)
8130609 5 of 8 (with Florida Modifications)
Copyright American Land Title Association. All rights reserved. The use of this Form is restricted to ALTA licensees and ALTA
members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title
Association
i
copy all of these records in the custody or control of a third party that reasonably pertain to the loss or damage
.
All information designated as confidential by the Insured Claimant provided to the Company pursuant . to
this
Section shall not be disclosed to others unless , in the reasonable judgment of the Company , it is necessary in the
administration of the claim . Failure of the Insured Claimant to submit for examination under oath , produce any
reasonably requested information , or grant permission to secure reasonably necessary information from third
parties as required in this subsection , unless prohibited by law or governmental regulation , shall terminate any
liability of the Company under this policy as to that claim .
7. OPTIONS TO PAY OR OTHERWISE SETTLE CLAIMS , TERMINATION OF LIABILITY
In case of a claim under this policy, the Company shall have the following additional options :
( a ) To Pay or Tender Payment of the Amount of Insurance . To pay or tender payment of the Amount of Insurance
under this policy together with any costs , attorneys' fees , and expenses incurred by the Insured Claimant that
were authorized by the Company up to the time of payment or tender of payment and that the
Company is
obligated to pay.
Upon the exercise by the Company of this option , all liability and obligations of the Company to the Insured under
this policy, other than to make the payment required in this subsection , shall terminate, including any
liability or
obligation to defend , prosecute , or continue any litigation.
( b) To Pay or Otherwise Settle With Parties Other Than the Insured or With the Insured Claimant .
( i) to pay or otherwise settle with other parties for or in the name of an Insured Claimant
any claim insured
against under this policy . In addition , the Company will pay any costs , attorneys ' fees , and expenses incurred
by
the Insured Claimant that were authorized by the Company up to the time of payment and that the Company is
obligated to pay ; or
( ii) to pay or otherwise settle with the Insured Claimant the loss or damage provided for
under this policy ,
together with any costs , attorneys' fees , and expenses incurred by the Insured Claimant that were authorized by
the Company up to the time of payment and that the Company is obligated to pay .
Upon the exercise by the Company of either of the options provided for in subsections
(b) ( i ) or ( ii) , the
Company's obligations to the Insured under this policy for the claimed loss or damage , other than the payments
required to be made , shall terminate , including any liability or obligation to defend , prosecute , or continue
any
litigation .
8. DETERMINATION AND EXTENT OF LIABILITY
This policy is a contract of indemnity against actual monetary loss or damage sustained or incurred by the Insured Claimant
who has suffered loss or damage by reason of matters insured against by this policy .
j
(a) The extent of liability of the Company for loss or damage under this . policy shall not exceed the lesser of
( i ) the Amount of Insurance ; or
( ii ) the difference between the value of the Title as insured and the value of the Title subject
to the risk insured against by this policy .
(b) If the Company pursues its rights under Section 5 of these Conditions and is unsuccessful in establishing the Title
,
as insured ,
( 'i) the Amount of Insurance shall be increased by 10% , and
( ii) the Insured Claimant shall have the right to have the loss or damage determined either
as of the date the claim was made by the Insured Claimant or as of the date it is settled and paid . .
(c) In addition to . the extent of liability under (a) and (b) , the Company will also pay those costs , attorneys'
fees , and
expenses incurred in accordance with Sections 5 and 7 of these Conditions .
9. LIMITATION OF LIABILITY
ALTA Owner's Policy (6/17/06)
8130609 6 of 8 (with Florida Modifications)
Copyright American Land Title Association. All rights reserved. The use of this Form is restricted to ALTA licensees and ALTA ,
members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title moo,
Association
Y a
(a) If the Company establishes the Title , or removes the alleged defect , lien , or encumbrance , or cures the lack
of a
right of access to or from the Land , or cures the claim of Unmarketable Title, all as insured , in a reasonably diligent
manner by any method , including litigation and the completion of any appeals , it shall have fully performed
its
obligations with respect to that matter and shall not be liable for any loss or damage caused to the Insured .
(b) In the event of any litigation , including litigation by the Company or with the Company's consent, the
Company
shall have no liability for loss or damage until there has been a final determination by
a court of competent .
jurisdiction , and disposition of all appeals , adverse to the Title , as insured .
(c) The Company shall not be liable for loss or damage to the Insured for liability voluntarily assumed by the Insured
in settling any claim or suit without the prior written consent of the Company .
10. REDUCTION OF INSURANCE ; REDUCTION OR TERMINATION OF LIABILITY
All payments under this policy , except payments made for costs , attorneys' fees , and expenses, shall reduce the Amount
of
Insurance by the amount of the payment.
11 . LIABILITY NONCUMULATIVE
The Amount of Insurance shall be reduced by any amount the Company pays under any policy insuring a Mortgage to which
exception is taken in Schedule B or to which the Insured has agreed , assumed , or taken subject, or which is executed
by an
Insured after Date of Policy and which is a charge or lien on the Title , and the amount so paid shall be deemed a
payment to
the Insured under this policy.
12 . PAYMENT OF LOSS
When liability and the extent of loss or damage have been definitely fixed in accordance with these Conditions, the payment
shall be made within 30 days .
13 . RIGHTS OF RECOVERY UPON PAYMENT OR SETTLEMENT
(a ) Whenever the Company shall have settled and paid a claim under this policy , it shall
be subrogated and
entitled to the rights of the Insured Claimant in the Title and all other rights and remedies in respect to
the claim
that the Insured Claimant has against any person or property, , to the extent of the amount of any
loss , costs ,
attorneys' fees , and expenses paid by the Company . If requested by the Company, the Insured Claimant shall
execute documents to evidence the transfer to the Company of these rights and remedies . The Insured Claimant
shall permit the Company to sue, compromise , or settle in the name of the Insured Claimant and to use the name
of the Insured Claimant in any transaction or litigation involving these rights and remedies .
If a payment on account of a claim does not fully cover the loss of the Insured Claimant, the Company shall
defer
the exercise of its right to recover until after the Insured Claimant shall have recovered its loss .
(b ) The Company's right of subrogation includes the rights of the Insured to indemnities , guaranties , other policies of
insurance , or bonds , notwithstanding any terms or conditions contained in those instruments that address
subrogation rights .
14. ARBITRATION
Unless prohibited by applicable law , arbitration pursuant to the Title Insurance Arbitration Rules of the American Arbitration
Association may be demanded if agreed to by both the Company and the Insured at the time of a controversy
or claim .
Arbitrable matters may include , but are not limited to , any controversy or claim between the Company and the Insured arising
i
out of or relating to this policy, and service of the Company in connection with its issuance or the breach of a policy
provision
ALTA Owner's Policy (6/17/06)
8130609 7 of 8 (with Florida Modifications)
Copyright American Land Title Association. All rights reserved. The use of this Form is restricted to ALTA licensees and ALTA
members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title
Association
i
or other obligation . Arbitration pursuant to this policy and under the Rules in effect on the date the demand for
arbitration is
made or, at the option of the Insured , the Rules in effect at Date of Policy shall be binding upon the parties
. The award may i
include attorneys' fees only if the laws of the state in which the Land is located permit a court to award attorneys'
fees to a
prevailing party . Judgment upon the award rendered by the Arbitrator(s) may be entered in any court
having jurisdiction
thereof.
The law of the situs of the land shall apply to an arbitration under the Title Insurance Arbitration Rules .
A copy of the Rules may be obtained from the Company upon request.
15. LIABILITY LIMITED TO THIS POLICY; POLICY ENTIRE CONTRACT
(a) This policy together with all endorsements , if any , attached to it by the Company is the entire policy and
contract
between the Insured and the Company . In interpreting any provision of this policy , this policy shall
be
construed as a whole .
(b) Any claim of loss or damage that arises out of the status of the Title or by any action asserting such claim whether
or not based on negligence shall be restricted to this policy .
(c) Any amendment of or endorsement to this policy must be in writing and authenticated by an authorized person , or
expressly incorporated by Schedule A of this policy .
i
(d ) Each endorsement to this policy issued at any time is made a part of this policy and is subject to
all of its terms
and provisions . Except as the endorsement expressly states , it does not (i) modify any of the terms and provisions
of the policy, ( ii) modify any prior endorsement, ( iii) extend the Date of Policy , or ( iv) increase
the Amount of
Insurance.
i
. 16 . SEVERABILITY
In the event any provision of this policy, in whole or in part , is held invalid or unenforceable under applicable
law, the policy
shall be deemed not to include that provision or such part held to be invalid , but all other provisions shall remain
in full force
and effect.
17 . CHOICE OF LAW ; FORUM
(a) Choice of Law: The Insured acknowledges the Company has underwritten the risks covered by this policy and
determined the premium charged therefor in reliance upon the law affecting interests in real property
_ and
applicable to the interpretation , rights , remedies , or enforcement of policies of title insurance of the jurisdiction
where the Land is located .
Therefore , the court or an arbitrator shall apply the law of the jurisdiction where the Land is located to determine
the validity of claims against the Title that are adverse to the Insured and to interpret and enforce the terms of
this
policy. In neither case shall the court or arbitrator apply its conflicts of law principles to determine the applicable
law.
(b) Choice of Forum : Any litigation or other proceeding brought by the Insured against the Company must be filed
only in a state or federal court within the United States of America or its territories having appropriate jurisdiction .
18 . NOTICES , WHERE SENT
Any notice of claim and any other notice or statement in writing required to be given to the Company under this policy must
be
given to the Company at Commonwealth Land Title Insurance Company, Attn . Claims Department, P . O . Box
45023 ,
Jacksonville , FL 32232-5023 .
ALTA Owner's Policy (6/17/06)
8130609 8 of 8 (with Florida Modifications)
Copyright American Land Title Association. All rights reserved. The use of this Form is restricted to ALTA licensees and ALTA
members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title
Association •c�k
' Cimrtio o� ure �i'
SCHEDULE A
Name and Address of Title Insurance Company:
Commonwealth Land Title Insurance Company, P.O. Box 45023, Jacksonville, Florida 32232-5023
File No. : 3318-053 Policy No. : FL0230 -81 -3318-053 -2012 . 8130609- 85862088
Address Reference (For information only):
1630 Highway AIA
Vero Beach, Florida 32963
Amount of Insurance: $ 20,400 .00
Premium : $ 140 . 30
Date of Policy : 11 /01 / 12 12 * 33 p . m .
1 . Name of Insured:
Indian River County, a political subdivision of the State of Florida
2. The estate or interest in the Land that is insured by this policy is : Fee Simple
3 . Title is vested in:
Indian River County, a political subdivision of the State of Florida, by virtue of Special Warranty Deed dated
October 27, 2011 and recorded in Official Records Book 2532 , Page 2173 , of the Public Records of Indian
River County, Florida.
4, The Land referred to in this policy is described as follows .
All that certain piece, parcel or tract of land situate, lying and being a portion of the unnumbered triangular
parcel of property located in the Northeast corner of Indian Bay, according to the Plat thereof, as recorded in
Plat Book 3 , page 43 , Public Records of Indian River County, Florida, lying South of Causeway Boulevard,
East of State Road A- 1 -A and West of Avenue K, said lands lying and being in Indian River County, Florida.
Said lands being more particularly described as follows , to wit :
Beginning at the Northwest corner of said unnumbered Triangular parcel, thence bearing North 89 degrees 36'
48 " East, along the Southerly Right of Way line of 17th Street (Causeway BLVD. ), a distance of 29 . 18 feet to a
point; thence leaving said Southerly Right of Way line, bearing South 38 degrees 10' 59 " West, a distance
of
29. 79 feet to a point; said point being the beginning of a non tangent curve concave Easterly, having a radius of
5 ,675 . 65 feet, a central angle , of 01 degrees 20' 22 " , a chord distance of 132 . 69 feet bearing South 17 degrees 59'
29 " East; thence, Southerly along the arc of said curve, a distance of 132 . 70 feet to a point on
the Westerly
Right of Way line of Avenue K (Club Drive); thence, bearing South 00 degrees 23 ' 13 "
East, along said
Westerly Right of Way Line of Avenue K (Club Drive), a distance of 12 . 72 feet to a point on the Easterly Right
See Continuation Sheet
THE TELEPHONE NUMBER TO PRESENT INQUIRIES OR OBTAIN INFORMATION ABOUT COVERAGE
AND TO PROVIDE ASSISTANCE IS 1400-669-7450
THIS POLICY VALID ONLY IF SCHEDULE B IS ATTACHED
ALTA Owner's Policy (6/ 17/06)
2730609 (with Florida Modifications)
(02/11 DisplaySoft 27•WIN4RaOmA-06)
i
CONTINUATION SHEET
(SCHEDULE A4 CONTINUED)
P011cyN0. : FL0230-81 =3318-053 -2012 . 8130609-85862088
of Way line of State Road A41 A ; said point being the beginning of anon tangent curve concave Easterly,
having a radius of 5 , 679 . 65 feet, a central angle of 01 degrees 32' 51 " , a chord distance of 153.41 feet
bearing
North 18 degrees 00' 33 " West; thence, Northerly along the arc of said curve and said Easterly Right of Way
line, a distance of 153 .41 feet to a point; thence, bearing North 17 degrees 13 ' 52 West, along said Easterly
Right of Way line, a distance of 17 . 67 feet to the Point of Beginning.
Cs (04/11 DisplaySoR 27-WIN-FL0WNAC0N-06)
M. h�M
Www 71Y1 SKSutwwc . C+0"ry
SCHEDULE B
EXCEPTIONS FROM COVERAGE
Policy No. : FL0230- 81 -3318-053 -2012 . 8130609-85862088
This policy does not insure against loss or damage, and the Company will not pay costs,
attorneys' fees, or expenses
that arise by reason of:
1 . Defects, liens, encumbrances, adverse claims or other matters, if any, created, first appearing in the public
records or attaching subsequent to the effective date hereof but prior to the date the proposed insured
acquires for value of record the estate or interest or mortgage thereon covered by this Commitment.
2 . Taxes and assessments for the year 2011 and subsequent years, which are not yet due and payable .
3 . Any claim that any portion of the insured land is sovereign lands of the State of
Florida, including
submerged, filled or artificially exposed lands accreted to such land.
4 . Any lien provided by County Ordinance or by Chapter 159, Florida Statutes, in favor of any city,
town,
village or port authority for unpaid service charges for service by any water, sewer or gas system supplying
the insured land.
5 . Restrictions, covenants, conditions, easements and other matters as contained on the Plat of Indian Bay,
recorded in Plat Book 3 , Page 43 , of the Public Records of Indian River County, Florida.
6. The following note is incorporated herein for informational purposes only and is not part of the exception
from coverage : All deeds conveying the subject property within the last 50 years are attached hereto .
Warranty Deed in Official Records Book 117 page 176
Warranty Deed in Official Records Book 240 page 432
Warranty Deed in Official Records Book 304 page 240
Warranty Deed in Official Records Book 423 page 37
Warranty Deed in Official Records Book 426 page 491
Death Certificate in Official Records Book 507 page 88
Warranty Deed in Official Records Book 507 page 104
Warranty Deed in Official Records Book 642 page 1606
NOTE : All recording references in this policy shall refer to the Public Records of Indian River County,
Florida, unless otherwise noted.
ALTA Owner's Policy (6/ 17/06)
8130609 (with Florida Modifications)
(07/11 DisplaySoft 27-WIN-I -FL-0wnB1mport-06)
I
A. Settlement 11 I
Department of I r _'
and Urban Development
• r Approval Nm 2502=0265
1 11 1111111plo 1111 1111111
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11011111111'ZI10111119 3318&053
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D. NAME OF BORROWER* Indian River County, a political
division of the State of Florida
18
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ADDRESS OF 1 1 `
L NAME OFNorthern
ADDRESSr 50 La Salle Street, Chicago, Illinois 60603
OF
Fa NAME OF 1
ADDRESS • 1 "
G. PROPERTY 1630 Highway AIA
LOCATION* 1
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IL SETTLEMENT Al
ROSSWAY MOORE • ' & SWAN
2101 INDIAN • SUITE 200, VERO BEACH, . 1 • 1
PLACE 1F SETTLEMENT* 2101 INDIAN RIVER BLVD., SUITE 2009 VERO BEACH, . 1
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Cutout from Parcel * 3340-05-00010-0000-00000: 1
Purchased by Indian River County from
The Northern Trust Company
Public ,Purpose: A- 1 -A/11" Street right-of-way (road widening)
RESOLUTION NO , 2012 118
A RESOLUTION OF INDIAN RIVER
COUNTY, FLORIDA, CANCELLING
CERTAIN TAXES UPON PUBLICLY OWNED
LANDS , :PURSUANT TO SECTION 196 . 28 ,
FLORIDA STATUTES,
WHEREAS , section 196 . 28 , Florida Statutes , allows the Board of
County Commissioners of each County ,to cancel and discharge any and all liens
for taxes , delinquent or current, held or owned by the county or the state , upon
lands heretofore or hereafter conveyed to or acquired by any agency,
governmental subdivision, or municipality of the state, or the. United States, for
road purposes , defense purposes ; recreation , reforestation , or other public use ;
and
WHEREAS , such cancellation must be by resolution of the Board of
County Commissioners , duly adopted and entered upon its minutes properly
describing such lands _and setting forth the public use to which the same are or
will be devoted ; and
WHEREAS ,. Upon receipt of a certified copy of such resolution , proper
officials of the county and of the state eare authorized ; empowered , and directed
1
RESOLUTION NO . 2012m
to make , proper entries upon the records to accomplish such cancellation and to
do all thingsnecessary to carry out "the provisions of section 196 . 28, F . S . ;
NOW, THEREFORE , BE IT RESOLVED BY THE BOARD OF
COUNTY COMMISSIONERS OF INDIAN RIFER COUNTY ,
FLORIDA, that :
1` . Any and all liens for taxes delinquent or current against the foilowing
described lands purchased from The Northern Trust Company, a corporation
existing under the laws of the State of Illinois for AA A_117kh Street righf-of-way
(road widening), are hereby cancelled pursuant to the authority .of section
196 : 281 F . S ,
See attached Special Warranty Deed dated
October 27 , 201.1 , recorded ' in Book 2632 , Pages
2173-2175, , Public Records of Indiam River County,
Florida .
2 , The Clerk to the Board of County Commissioners is hereby
directed to send a certified copy of this resolution to the Tax Collector and the
Property Appraiser with a copy to each of Fixed Assets; Budget , and the County
Attorney's Office . .
The resolution was moved for adoption by Commissioner , o ' &roan
and: the motion was seconded by Commissioner and , upon
being put to a vote , the vote was as follows :
2
RESOLUTION NO , 2012 - .ice
Joseph E . Flescher, Chairman ye
Wesley S : Davis , Vice Chairman° Aye
Tim Zorc Aye
Peter D . O'Bryan _
Bob Solari Aye
The Chairman thereupon declared the resolution duly passed and
adopted this _ 4th day of December, .2012 .
BOARD OF COUNTY COMMISSIONERS
INDIAN RIVER; COUNTY", FLORIDA
By
hseE . Flesc `er, :Chairman
40
„rnaa rarY'
ATTEST; Jeffrey R . Smith , Clerk . �a�� Mks goy
of Circuit Court and .a �N�e
Comptroller
r
By*
eputy Clerk *'2°q
.� �
In
YiappMY6MP
APPROVED AS . TO FOR
ax Certificates Outstanding ANC? 1. S . . FIC In
Yes No
Current Prorated Tax Received and BY
Deposited With Tax collector $
G I t . `/ % l Wi1.i.lAM BitA
DEl1L
DEPUTYCOUNITY ATrORNEY
3
2171845 RECORDED IN THE RECORDS OF JEFFREY K BARTON , CLERKCIRCUITCOURT INDIAN
RIVEf3 CO FLr BK : 2,532 PG : 217,3 ., 1x,/ 01 / 2011 12 : 33 PM DOC STAMPS D $ 170980
F
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(� After Recording Return Tor
q, Kevin M Barry, Esquire
RosrA%y Moore Taylor& Swan
2101Indian River poulevardSuite 200
Vem.Beach, Florida 32900
(172) 231.4440
Parcel ID Nos 334003.00010-0000.00000Xi
SPECIAL WARRANTY DEED.: to
THIS INDENTURE 'is made this day of: October, .2011 , by THE NORTHERN
TRUST to 0ANY, a corporation existing ander the laws .of theState of Illinois, formerly
known as NORTHERN TRUST, NA,- formerly known ss NORTHERN TRUST BANK OF
FLORIDA, NA, formerly known as THE BEACH SANK OF VERO BEACH, whose address is
50 La Salle S.troo Chicago, Illinois 60603 (hereinafter referred . to as "Grantor"), in favor of
IN RIVER COUNTY, a politleal subdivision,of the State of Florida, whose address is
180127 ' Street, Vero Beach, Florida 32960 (hereinafter. referred "to i "Grantee").
WITNoESS:ETHt
That said Grantor; for and in consideration of the sum of TEN and NQ1100 ($1040)
DOLLARS and other good and valuable consideration to:;said Grantor iii hand paid, the receipt and
sufficiency of which are hereby acknowledged, does hereby grant,.bargain, sell, transfer, and convey
to the said Grantee, and Grantee's .heirs, ;suceessors, and assi1 . gns ,forever, the following described
property, to-wit:
See Exhibit "All attached hereto and incorporated herein by reference,
Subjectto the following; to
j
le Taxes subsequent to December , 1 , 2010; and
2. Covenants, conditions, restrictions, easements, and
limitations ofecord, without` thereby reimposing;the
same, and all, applicable zoning ordinances;
and said.Grantor, subject to the foregoing, does hereby specially warrant the title to said lands
and will defend the same :against the lawful claims of all persons whomsoever.
TOGETHER WITH all tenements, hereditaments, and appurtenances benefittingaand
appertaining to the said :land.
4
{
{
BK: 2532 PG: 2174
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IN WITNESS WHEREOF, .Grantor`has caused these presents to be executed on the day
and yearset forth below.
Signed, sealed, and delivered. in "GRANTOR"
the presence of
THE NORTHERN TRUST COMPANY'
�it.¢.a-r✓ B
(Namie;' -s o E: PAUL DUNN, error Vice President
40
(Name:. v
f.
STATE OF ILLINOIS ), j
COUNTY OF COOK: )
The foregoing instrument was acknowledged and swornbefore me this day of
October, 2011 by Eo PAUL DUNN, as Senior Vicc President ofTheNorthern Tk t Company, a
corporation existing uncles the laws of the State of Illtndis, on behalf of said, corporation, Said
party is personally known to me or has produced his current dr'iver's license-as identification.
NOTARY PUBLIC, State of lnois
(i`lame._ Ch1 � iZG S� A . $t1RCNEt.tJ ,
My commission expires; Q (Affix Seal)
aftfcial,8aal
neren A Burchell
Notary PuState onvinals
My. Commtsaloa,Pxplree 08lt?J20ta
ti
h IMoonlReoleaole orplClienrsUlf kWorrhsm tYvrr BankUTMI.aMfiwe lSa/s'To FDOXonviv4w Ooeuafem'sWOvdal. W6n01r1WsdDoe
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BK: 2532 PCS : 2175
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