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HomeMy WebLinkAbout2015-014Original AGREEMENT TO PURCHASE, SELL, AND LEASE REAL ESTATE BETWEEN INDIAN RIVER COUNTY .2015.01,1 AND RONEE SUZAN KING and STEPHEN ALLAN BLOCK, as Co -Trustees under THE BENJAMIN BLOCK REVOCABLE TRUST —1999. Each as to an undivided one-half (1/2) interest as tenants-in-common (hereinafter called the "Grantee") THIS AGREEMENT TO PURCHASE AND SELL REAL ESTATE ("Agreement") is made and entered into as of the 20 day of January, 2015, by and between Indian River County, a political subdivision of the State of Florida ("the County"), and RONEE SUZAN KING and STEPHEN ALLAN BLOCK, as Co -Trustees under THE BENJAMIN BLOCK REVOCABLE TRUST — 1999, who agree as follows: WHEREAS, RONEE SUZAN KING and STEPHEN ALLAN BLOCK, as Co - Trustees owns property located at 5030 26th Street and 5920 26th Street, Vero Beach, Florida. A legal description of the property is attached to this agreement as Exhibit "A" and Exhibit "B" incorporated by reference herein; and WHEREAS, the County is purchasing right-of-way for the future expansion of 26th. Street; and WHEREAS, in order to proceed with the road expansion plans, the County needs to purchase property to be used as right-of-way from landowners adjacent to 26th Street; and WHEREAS, the County has contacted Ronee Suzan King and Stephen AIIan Block and has offered to purchase the entire parcel as described on Exhibit "A" (the Property) and right-of- way along the frontage of Exhibit "B" (the property), and WHEREAS, the County is currently purchasing property/right-of-way from willing sellers; and WHEREAS, Ronee Suzan King and Stephen AIIan Block 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 5030 26t" Street (Exhibit "A") and right- of-way along the frontage of the parcel located at 5920 26th Street (Exhibit "B"), Vero. Beach, 1 Original Florida and more specifically described in the legal description attached as Exhibit "A", and Exhibit "B", fee simple, all improvements thereon, together with all easements, rights and uses now or hereafter belonging thereto (collectively, the "Property"). 2.1 Purchase Price, Effective Date. The purchase price ("Purchase Price") for the Property shown as EXHIBIT "A" shall be $43,500 (Forty -Three Thousand Five Hundred Dollars) and the Property shown as EXHIBIT "B" shall be $4 per square foot (6,192 s.f.) equaling $24,798 (Twenty -Four Thousand Seven Hundred Ninety -Eight Dollars). The combined purchase price of EXHIBIT "A" and EXHIBIT "B" shall be $68,268 (Sixty -Eight Thousand Two Hundred Sixty -Eight Dollars). The Purchase Price 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. Indian River County Board of County Commissioners/County Administrator, which ever applies, authorizes County staff to sell the remainder parcel, after the right-of-way is extracted, by sealed bids or public auction. (Full parcel purchases) 2.2 As -is condition. The County acknowledges that the Property being purchased in AS -IS condition. Seller makes no representation, and expressly disclaims any warranty, as to the condition of the Property or the improvements thereon. Sheller shall not be liable for defects of any kind, nor shall Seller be responsible for any repairs. 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 2 documents in the Public Records which would affect title to the Property, without the prior written consent of the County. 4.3.1 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 execution of the contract by the Chairman 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 a non-resident alien or foreign entity, Seller shall deliver to 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 Countyshall each deliver to the other such other documents or instruments as may reasonably be required to close this transaction. 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 3 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. Purchase to include refrigerator and range -oven, as shown in appraisal dated February 26, 2014. The County will not be responsible in any claim or controversy arising out of or relating to any realtor fees from previous listing agreements. 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. 8.4 Assignment and Binding 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. 4 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: If to County: Ronee Suzan King 52 Bulow Woods Circle Flagler Beach, FL 32136 Stephen Allan Block 815 Malcolm Avenue Los Angeles, California 90024 Indian River County 1801 27th Street Vero Beach, FL. 32960 Attn: Land Acquisition/Louise Gates 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 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 disclosure; 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. 5 IN WITNESS WHEREOF, the undersigned have executed this Agreement as of the date first set forth above. INDIAN RIVER COUNTY,FLORIDA BOARD OF COUNTY COMMISSIONERS RONEE SUZAN KING and STEPHEN ALLAN BLOCK, as Co -Trustees under. THE BENJAMIN. BLOCK REVOCABLE TRUST -1999 Wesley S. Davis, Chairman Ronee Suza King, Co -Trustee Date Approved by BCC January 20, 2015 Stephe Ian BI." k, C4. -Tru tee . late ATTEST:. Jeffrey. R. Smith, Clerk of Court and Comptroller .•...................... B,.• J• . O,,✓�,. Deputy Clerk <p y • ',,2a �' ••9,y: ..• s, . FRCOUN :••'. Approved: eph Baird, County Administrator Approve : as o For ► a lra# al Sufficiency: County Attorney Original EXHIBIT "A" Parcel: 32393300004000000000.1 Full Take Legal Description HAMPSHIRE SUB S 115 FT OF LOT A PBI 2-99 Commonly known as: 5030 26th Street, Vero Beach, FL 32966 EXHIBIT "B" Part of Parcel: 32-39-32-00001-0160-00003.0 Partial Take containing 6192.00 square feet as shown on Exhibit "B" Approximately 30' x 206' of frontage along 26th Street Commonly known as: 5920 26th Street, Vero Beach, FL 32966 EXH1r; IT LEGAL DESCRIPTION: RIGHT—OF—WAY A PORTION OF THOSE LANDS DESCRIBED IN OFFICIAL RECORD BOOK 2193, PAGE 2241 OF THE PUBUC RECORDS OF INDIAN RIVER COUNTY, FLORIDA, SAID LANDS LYING IN TRACT 16, SECTION 32, TOWNSHIP 32 SOUTH, RANGE 39 EAST, ACCORDING TO THE LAST GENERAL PLAT OF THE LANDS OF THE INDIAN RIVER FARMS COMPANY SUBDIVISION, AS RECORDED IN PLAT BOOK 2, PAGE 25 OF THE PUBLIC RECORDS OF ST LUCIE COUNTY, FLORIDA: SAID LAND LYING AND BEING IN INDIAN RIVER COUNTY, FLORIDA, BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: THE NORTH 30 FEET OF THE SOUTH 90 FEET OF THE EAST 10.47 ACRES OF THE WEST 20.47 ACRES OF TRACT 16, SECTION 32, TOWNSHIP 32 SOUTH, RANGE 39; LESS AND EXCEPT THE WEST 137 FEET THEREOF. CONTAINING 6192.00 SQUARE FEET, MORE OR LESS, OR 0.14 ACRES. NOTES 1. THIS SKETCH AND DESCRIPTION IS NOT VALID WITHOUT THE SIGNATURE AND ORIGINAL RAISED SEAL OF THE FLORIDA REGISTERED SURVEYOR AND MAPPER NAMED HEREON. 2. THIS SKETCH AND DESCRIPTION MEETS OR EXCEEDS ALL APPUCABLE REQUIREMENTS OF THE STANDARDS OF PRACTICE AS ESTABLISHED IN CHAPTER 5J-17, FLORIDA ADMINISTRATIVE CODE. 3. THIS SKETCH AND DESCRIPTION DOES NOT REPRESENT A FIELD SURVEY. EXISTING PROPERTY CONDITIONS OR FEATURES ARE NOT SHOWN. CERTIFICATION SURVEYOR lI;FiD MAPP N RESPONSIBLE CHARGE DAVID W. SCHRYVER, P.S. FLORIDA REGISTRATION NO. 4864., INDIAN RIVER COUNTY SURVEYOR 004 NOT VALID WITHOUT BOTH SHEETS 1 AND 2 AS CREATED THIS IS NOT A BOUNDARY SURVEY -SKETCH TO ACCOMPANY LEGAL DESCRIPTION PREPARED FOR INDIAN RIVER COUNTY ENGINEERING DIVISION NDWI RIVER COUNTY ADMINISTRATION BUILDING 1801 27th STREET VERO BEACH, FL 32980 (772) 567-8000 INDIAN RIVER COUNTY Department of Public Works Engineering Division DRAWN BY: B. ROACH SECTION 32 APPROVED BY: D. SCHRYVER TOWNSHIP 32S RANGE 39E SKETCH/DESCRIPTION RIGHT—OF—WAY KING PARCEL -5920 26TH ST 1 1 1 SHEET OF 2 1 412 W IQLi_ rZt- o W N wW J 30 0 i E. I N g O O O N• o d I '73cN owe/iris,- CV NiWm c,Zgo M R/W LINE BY SEPARATE INSTRUMENT 0 15 30 60 GRAPHIC SCALE 32-39-32-00001-0160-00003.0 RONEE SUZAN KING (1/2) & STEPHEN ALLEN BLOCK (1/2) SITE ADDRESS: 5920 26TH STREET O.R.B. 2193, PG. 2241 f0 LOT ce<0 141 ( •- Q fgr a 0 w N ww 03 li.. wo W W Q O J U J m /71//Z/Z, oa a3mrn ill�Od 1 G•/ / EXISTING 1 137' R/W ,LINE l rn ,� o_ N 01M rca 0 O LEGEND (D)=DEED I.R.F.W.C.D.=INDIAN RIVER FARMS WATER CONTROL DISTRICT O.R.B.=OFFICIAL RECORD BOOK (P)=PLAT P.B.=PLAT BOOK INDIAN RIVER COUNTY ADMINISTRATION BUILDING 1601 27th STREET VERO BEACH, FL 32960 (772) 567-8000 O P.B.S. 2. PG. 26TH STREET SECTION 32-32-39 SECTION 5-33-39 206.4' (CALCULATED) S LINE TRACT 16 P.B.S.=PLAT BOOK, ST LUCIE COUNTY PG.=PAGE P.O.B.=POINT OF BEGINNING P.O.C.=POINT OF COMMENCEMENT R/W=RIGHT-OF-WAY M m a ce NW w M M z z U U N W UJ N VII- 657.2' (P.B. 3' 32 33 PG 87 1 1 1Ld Q 00 863.6' (0.R.B. 2784, PG 2015) NOT VALID WITHOUT BOTH SHEETS 1 AND 2 AS CREATED PREPARED FOR INDIAN RIVER COUNTY ENGINEERING DIVISION THIS IS NOT A BOUNDARY SURVEY SKETCH TO ACCOMPANY LEGAL DESCRIPTION INDIAN RIVER COUNTY Department of Public Works Engineering Division DRAWN BY: B. ROACH APPROVED BY: - D. SCHRYVER SECTION 32 TOWNSHIP 32S RANGE 39E SKETCH/DESCRIPTION RIGHT-OF-WAY KING PARCEL -5920 26TH ST This instrutnent was prepared incident to the issuance of title insurance, and is to be returned to: Atlantic Coastal Land Title Company, LLC 855 215` Street, Suite C Vero Beach FL 32960 3120150021558 RECORDED IN THE PUBLIC RECORDS OF JEFFREY R SMITH, CLERK OF COURT INDIAN RIVER COUNTY FL BK: 2837 PG: 1587 Page 1 of 3 4/10/2015 1:00 PM D DOCTAX PD $0.70 ACTC File Number: 45081401 Parcel ID Number: 32393300004000000000.1 & 32393200001016000003.0 GENERAL WARRANTY DEED This Deed, made as of this 10th day of April 2015, by Ronee Suzan King and Stephen Allan Block, each as to an undivided one-half interest as tenants in common (each a, and collectively as, "Grantor"); and Indian River County, a political subdivision of the State of Florida, whose post office address is 1801 27th Street, Vero Beach FL 32960 (as "Grantee"); (Wherever used herein, the terms "grantor" and "grantee" shall include singular and plural, heirs, legal representatives, and assigns of individuals, and the successors and assigns of corporations, partnerships or other entities; wherever the context so admits orrequires.) WITNESSETH: That Grantor, for and in consideration of the sum of $10.00 in hand paid by Grantee, the receipt whereof is hereby acknowledged, does hereby grant, bargain, sell, alien, remise, release, convey and confirm unto Grantee forever, all the right, title, interest, claim and demand which said Grantor has in and to the following describedparcel of land, to wit: South 115 feet of Lot A, Hampshire Subdivision, according to the Plat thereof, recorded in Plat Book 2, Page(s) 99, of the Public Records of Indian River County, Florida. And A Portion of those lands described in Official Records Book 2193, Page 2241 of the Public Records of Indian River County, Florida, said Lands lying in Tract 16, Section 32, Township 32 South, Range 39 East, according to the last general Plat of the lands of the Indian River Farms Company Subdivision, as recorded in Plat Book 2, Page 25 of the Public Records of. St Lucie County, Florida; Said Land lying and being in Indian River County, Florida, being more particularly described as follows: The North 30 feet of the South 90 feet of the East 10.47 acres of the West 20.47 acres of Tract 16, Section 32, Township 32 South, Range 39; Less and Except the West 137 feet thereof. Pursuant to Rulel2B-4.013(4), F.A.C., this Deed is being given to a governmental entity under threat of condemnation or as a part of an out-of-court settlement of condemnation proceedings and is not subject to tax. TOGETHER with all the tenements, hereditaments and appurtenances thereto belonging or in anywise appertaining. ATLANTIC COASTAL LAND TITLE COMPANY, LLC A Full Service, Florida Title Insurance Agency TO HAVE AND TO HOLD the same in fee simple forever. AND Grantor hereby covenants with Grantee that Grantor is lawfully seized of said land in fee simple; that Grantor has good right and lawful authority to sell and'convey said land; that Grantor hereby fully warrants the title to said land and will defend the same against the lawful claims of all persons whomsoever; and that said land is free of all encumbrances, except taxes for the year in which this deed is given; and restrictions, reservations, limitations, covenants, conditions and easements of record, if any; insofar as same are valid and enforceable (however, this clause shall not be construed to reimpose same). Grantor herein warrants and avers that Grantor does not reside on the lands conveyed hereby, nor on contiguous land; nor does any member of Grantor's family dependent upon Grantor for support. IN WITNESS WHEREOF, said Grantor has signed and sealed these presents the day and year first above written. Signed, sealed and delivered in the pres. State of Florida County of The foregoing instrument was acknowledged before me the date hereinafter given, by Ronee Suzan King; who was either personally known to me; or produced identification of sufficient character so as to identify said individual with reasonable certainty; and who did/did not take an oath. Witness my hand and official seal in the County and Statelast aforesaid, this 7 day of March, 2015. R i � a uzan King 52 Bulow Woods Circle Flagler Beach FL 32136 Type of identification provided (Check One): [ Driver's License [ 1 Passport [ 1 Government (State or Federal) ID Card [ 1 Resident Alien ID Card G/1 Other ey.. .. i 1 *u'ti'7 "1,�„G B J JUDD °°1„KY pv a° Notary Poblic - State of Bork • My Comm., Expires *25,2011 %its .saki, Commisin at NOW tJixoupA' ATLANTIC COASTAL LAND TITLE COMPANY, LLC A Full Service, Florida Title Insurance Agency Signe sealed and delivered in the presence of: F- v►�i l p.�Z ltd State of r; County ofi t / i. • Stephen Allan Block 815 Malcolm Avenue Los Angeles CA 90024 The foregoing instrument was acknowledged before me the date hereinafter given, by Stephan Allan Block; who was either personally known to me; or produced identification of sufficient character so as to identify said individual with reasonable certainty; and who did/did not take an oath. 1h1 Witness my hand and official seal in the County and State last aforesaid, this I day of , 2015. Ty of identification provided (Check One): 'r river's License [ ]] Passport [ ] Government (State or Federal) ID Card [ ] Resident Alien ID Card [ ] Other 3Jl1Ak c )1CrIri Nary Public z z JENNIFER ASHLEY MORRIS Commission • 2088221 Notary Public - California Los Angeles County My Comm. Expires Oct 30, 2018 ATLANTIC COASTAL LAND TITLE COMPANY, LLC A Full Service, Florida Title Insurance Agency WESTCOR Land Title Insurance Company POLICY NO. OP-25-FL1394-4216606 OWNER'S POLICY OF TITLE INSURANCE (with Florida Modifications) ISSUED BY WESTCOR 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, Westcor Land Title Insurance Company, a California 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 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 govermnental 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. Umnarketable Title. COVERED RISKS CONTINUED ON NEXT PAGE In Witness Whereof, WESTCOR 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 signa- tory of the Company. Issued By: FL1394 * 45081401 Atlantic Coastal Land Title Company, LLC �,, ,,, Q /j 855 21st Street, Suite Cvi`Tf:�.w By: / r V ,' a t0�r v► v\,' Y ' Vero Beach, FL 32960 WESTCOR LAND TITLE INSURANCE COMPANY Attest: resident Secretary nn_9 S AT TA Owners Policy of Title Insurance 6-17-06 (with FLORIDA Modifications) (WLTIC Edition 1/26/11) Page 1 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 zon- ing) 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 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 enforce- ment 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 at- tached 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. EXCLUSIONS FROM COVERAGE (a) created, suffered, assumed, or agreed to by the Insured Claimant; (b) not Known to the Company, not recorded in the Public Re- cords 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 sus- tained 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 (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. 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, regulat- ing, prohibiting, or relating to (i) the occupancy, use, or enjoyment of the Land; (ii) the character, dimensions, or location of any improve- ment 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. 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 "sr. nr A T TA .,.,me. o r .. nfT ria T„m„Tamp 6-17-06 (with FLORIDA Modifications) (WLTIC Edition 1/26/11) Page 2 CONDITIONS 1. DEFINITION OF TERMS The following terms when used in this policy mean: (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, devisees, survivors, personal representatives, or next of kin; (B) successors to an Insured by dissolution, merger, con- solidation, 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 En- tity 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 construc- tive 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 improve- ments 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 policy. (h) "Mortgage": Mortgage, deed of trust, trust deed, or other secu- rity instrument, including one evidenced by electronic means authorized bylaw. (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 delivery of marketable title. 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 war- ranties 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 Condi- tions, (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. 5. 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 • /1T) 7[ AT TA n.,ma« nsn., nfTalc. 6 -17 -fl (with FLORIDA Modifications) (WLTIC Edition 1/26/11) Page 3 CONDITIONS - 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 appropri- ate 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 (a) In all cases where this policy permits or requires the Company to prosecute or provide for the defense of any action or proceed- ing 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 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 representa- tive 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, 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 copy all of these records in the custody or control of a third party that reasonably pertain to the loss or dam- age. 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 CONTINUED 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 Claim- ant 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 li- ability 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. (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 Con- ditions 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 Com- pany will also pay those costs, attorneys' fees, and expenses in- curred in accordance with Sections 5 and 7 of these Conditions. 9. LIMITATION OF LIABILITY (a) If the Company establishes the Title, or removes the alleged defect, lien, or encumbrance, or cures the lack of a right of ac- cess 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. 4_17_n4 (..,ith FT (1RMA Mnriificatinns) (WT TIC Edition 1/26/11) Page 4 (b) In the event of any litigation, including litigation by the Com- pany or with the Company's consent, the Company shall have no liability for loss or damage until there has been a final deter- mination 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 set- tling 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 Com- pany 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 Com- pany 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 As- sociation may be demanded if agreed to by both the Company and the Insured at the time of a controversy or claim. Arbitrable mat- ters may include, but are not limited to, any controversy or claim between the Company and the Insured arising out of or relating to this policy, and service of the Company in connection with its issuance or the breach of a policy provision 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 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. (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 provi- sions. 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. 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: 875 Concourse Parkway South, Suite 200, Maitland, FL 32751. __ _cT:.,_ ,_ .._ 4_ ,-1_n4 m nizmA Modifications) (WLTIC Edition 1/26/11) Page 5 OWNER'S POLICY OF TITLE INSURANCE (With Florida Modifications) WESTCOR LAND TITLE INSURANCE COMPANY OWNER'S POLICY OF TITLE INSURANCE HOME OFFICE 875 Concourse Parkway South, Suite 200 Maitland, FL 32751 Telephone: (407) 629-5842 Note: This policy consists of insert pages labeled "Schedule A" and "Schedule B" and is of no force or effect unless all schedules are included, along with any Rider pages incorporated by reference in the insert pages. SCHEDULE A Agent's File No: 45081401 Policy No: OP-25-FL1394-4216606 Effective Date: April 10, 2015 at 1:00 PM Amount of Insurance: $ 68,268.00 Address: 5030 5920 26Th St., Vero Beach, FL 1. The Insured hereunder, in whom title to the fee simple estate is vested at the date hereof, is: Indian River County, a political subdivision of the State of Florida 2. In addition to those referred to in Schedule B hereof, the land herein described is encumbered by the following mortgage(s), and assignments thereof (if any): None! 3. The land referred to in this policy is situated in the County of Indian River, State of Florida, and is described as follows: South 115 feet of Lot A, Hampshire Subdivision, according to the Plat thereof, recorded in Plat Book 2, Page(s) 99, of the Public Records of Indian River County, Florida. And A Portion of those lands described in Official Records Book 2193, Page 2241 of the Public Records of Indian River County, Florida, said Lands lying in Tract Poll - Policy Insert Page 1 16, Section 32, Township 32 South, Range 39 East, according to the last general Plat of the lands of the Indian River Farms Company Subdivision, as recorded in Plat Book 2, Page 25 of the Public Records of St Lucie County, Florida; Said Land Lying and being in Indian River County, Florida, being more particularly described as follows: The North 30 feet of the South 90 feet of the East 10.47 acres of the West 20.47 acres of Tract , Section 32, Township 32 South, Range 39; Less and Except the West 137 feet thereof. Countersigned: ATLANTIC COASTAL LAND TITLE COMPANY, LLC 855 215` St., Suite C, Vero Beach, Florida 32960 Telephone: 772-569-4364 Poll - Policy Insert Page 2 Agent's File No: 45081401 Policy No: OP -25 -FL 13 94-4216606 SCHEDULE B This policy does not insure against loss or damage (and the Company will not pay costs, attorneys' fees or expenses) which arise by reason of: GENERAL EXCEPTIONS: 1. (a) Any encroachment, encumbrance, violation, variation, or adverse circumstances 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 on the Land of the existing improvements located on adjoining land. (b) Easements, or claims of easements, not shown by the public records. (c) If the land described herein abuts a river, lake, stream or other waterway --- the nature and extent of riparian and/or littoral rights, title to any portion of the land which is submerged, title to any portion below the mean high water mark of a tidal waterway, and title to any portion which consists of "filled-in lands"; and/or any claim that any portion of said lands are sovereign lands of the State of Florida. (d) Taxes or special assessments which are not shown as existing liens by the public records. SPECIAL EXCEPTIONS: 2. The mortgage referred to in item 2 of Schedule A hereof, if any. 3. General and special real property taxes and assessments for tax year 2015 and subsequent years. 4. Restrictions, reservations, setbacks and easements, if any, as indicated and/or shown on that certain Plat recorded in Plat Book 2, at Page(s) 99, of the Public Records of Indian River County, Florida. 5. Subject to Warranty Deed recorded in Official Records Book 1094, Page 314, of the Public Records of Indian River County, Florida. 6. Riparian rights and littoral rights, if any, incident to the land. Poll - Policy Insert Page 3 7. Any adverse ownership claim by the State of Florida by right of sovereignty to any portion of the lands insured hereunder, including submerged, filled, and artificially exposed lands and lands accreted to such lands. S. Any and all rights of the United States of America in and to navigable waters or filled-in land formerly within navigable waters and any conditions contained in any permits authorizing the filling in of such land. 9. Title to beds or bottoms of lakes, rivers or other bodies of water located on or within the property are not insured. In accordance with Title 42 United States Code, Section 3604, any covenants, conditions or restrictions referred to herein, which indicate any preference, limitation or discrimination based on race, color, religion, sex, handicap, familial status or national origin, are hereby deleted. Note 1: This policy does not insure against loss or damage arising as the result of unpaid charges for public utilities furnished by any county, municipality, or public service corporation, which may be or may become a lien upon the land insured hereby under any provision of the Florida Statutes including Section 159.17; and/or any county, municipal, or special taxing district assessment, including those levied under the provisions of Chapter 190, Florida Statutes. Note 2: All references herein to recorded instruments, refer to recordations contained within the Public Records of the county in which the land is located. Reference to instruments among the Public Records refer to the first recorded page of the instrument, but include by reference all pages recorded under the Clerk's File Number assigned to the instrument referred to. Poll - Policy Insert Page 4 This instrument was prepared incident to the issuance of title insurance, and is to be returned to: Atlantic Coastal Land Title Company, LLC 855 215` Street, Suite C Vero Beach FL 32960 3120150021558. RECORDED IN THE PUBLIC RECORDS OF JEFFREY R SMITH, CLERK OF COURT INDIAN RIVER COUNTY FL BK: 2837 PG: 1587 Page 1 of 3 4/10/2015 1:00 PM D DOCTAX PD $0.70 ACTC File Number: 45081401 Parcel ID Number: 32393300004000000000.1 & 32393200001016000003.0 GENERAL WARRANTY DEED This Deed, made as of this 10th day of April 2015, by Ronee Suzan King and Stephen Allan Block, each as to an undivided one-half interest as tenants in common (each a, and collectively as, "Grantor"); and Indian River County, a political subdivision of the State of Florida, whose post office address is 1801 27th Street, Vero Beach FL 32960 (as "Grantee"); (Wherever used herein, the terms "grantor" and "grantee" shall include singular and plural, heirs, legal representatives, and assigns of individuals, and the successors and assigns of corporations, partnerships or other entities; wherever the context so admits or requires.) WITNESSETH: That Grantor, for and in consideration of the sum of $10.00 in hand paid by Grantee, the receipt whereof is hereby acknowledged, does hereby grant, bargain, sell, alien, remise, release, convey and confirm unto Grantee forever, all the right, title, interest, claim and demand which said Grantor has in and to the following described parcel of land, to wit: South 115 feet of Lot A, Hampshire Subdivision, according to the Plat thereof, recorded in Plat Book 2, Page(s) 99, of the Public Records of Indian River County, Florida. And A Portion of those lands described in Official Records Book 2193, Page 2241 of the Public Records of Indian River County, Florida, said Lands lying in Tract 16, Section 32, Township 32 South, Range 39 East, according to the last general Plat of the lands of the Indian River Farms Company Subdivision, as recorded in Plat Book 2, Page 25 of the Public Records of St Lucie County, Florida; Said Land lying and being in Indian River County, Florida, being more particularly described as follows: The North 30 feet of the South 90 feet of the East 10.47 acres of the West 20.47 acres of Tract 16, Section 32, Township 32 South, Range 39; Less and Except the West 137 feet thereof. Pursuant to Rule12B-4.013(4), F.A.C., this Deed is being given to a governmental entity under threat of condemnation or as a part of an out-of-court settlement of condemnation proceedings and is not subject to tax. TOGETHER with all the tenements, hereditaments and appurtenances thereto belonging or in anywise appertaining. ATLANTIC COASTAL LAND TITLE COMPANY, LLC A Full Service, Florida Title Insurance Agency TO HAVE AND TO HOLD the same in fee simple forever. AND Grantor hereby covenants with Grantee that Grantor is lawfully seized of said land in fee simple; that Grantor has good right and lawful authority to sell and 'convey said land; that Grantor hereby fully warrants the title to said land and will defend the same against the lawful claims of all persons whomsoever; and that said land is free of all encumbrances, except taxes for the year in which this deed is given; and restrictions, reservations, limitations, covenants, conditions and easements of record, if any; insofar as same are valid and enforceable (however, this clause shall not be construed to reimpose same). Grantor herein warrants and avers that Grantor does not reside on the lands conveyed hereby, nor on contiguous land; nor does any member of Grantor's family dependent upon Grantor for support. IN WITNESS WIIEREOF, said Grantor has signed and sealed these presents the day and year first above written. Signed, sealed and delivered in the pre of. State of Florida County of 1 The foregoing instrument was acknowledged before me the date hereinafter given, by Ronee Suzan King; who was either personally known to me; or produced identification of sufficient character so as to identify said individual with reasonable certainty; and who did/did not take an oath. Witness my hand and official seal in the County and Statelast aforesaid, this n7 day of March, 2015. R ..uzan King 52 Bulow Woods Circle Flagler Beach FL 32136 Type of identification provided (Check One): [y4Driver's License [ ] Passport [ ] Government (State or Federal) ID Card [ ] Resident Alien ID Card [ 4 Other e ATLANTIC COASTAL LAND TITLE COMPANY, LLC A Full Service, Florida Title Insurance Agency Signesealed and delivered in the presence of: A ii,F-- vvi ilidz (L --t State of C4. •c it County of Int. _ . Stephen Allan Block 815 Malcolm Avenue Los Angeles CA 90024 The foregoing instrument was acknowledged before me the date hereinafter given, by Stephan Allan Block; who was either personally known to me; or produced identification of sufficient character so as to identify said individual with reasonable certainty; and who did/did not take an oath. AlPr1 Witness my hand and official seal in the County and State last aforesaid, this day of it4arch, 2015. Ty1of identification provided (Check One): Driver's License [ 1 Passport [ ] Government (State or Federal) ID Card [ ] Resident Alien ID Card [ 1 Other iPariA lu3kKA Public z z JENNIFER ASHLEY MORRIS Commission # 2088221 Notary Public - California Los Angeles County My Comm. Expires Oct 30, 2018 ATLANTIC COASTAL LAND TITLE COMPANY, LLC A Full Service, Florida Title Insurance Agency WESTCOR Land Title Insurance Company POLICY NO. OP-25-FL1394-4216606 OWNER'S POLICY OF TITLE INSURANCE (with Florida Modifications) ISSUED BY WESTCOR 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, Westcor Land Title Insurance Company, a California 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 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 govenunental 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. COVERED RISKS CONTINUED ON NEXT PAGE In Witness Whereof, WESTCOR 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 Signa- tory of the Company. Issued By: FL1394 * 45081401 Atlantic Coastal Land Title Company, LLC 855 21st Street, Suite C 4oIn Tiny By: Q tP60 Vero Beach, FL 32960 WESTCOR LAND TITLE INSURANCE COMPANY resident Attest: Secretary OP -25 ALTA Owners Policy of Title Insurance 6-17-06 (with FLORIDA Modifications) (WLTIC Edition 1/26/11) Page 1 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 zon- ing) 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 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 enforce- ment 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 at- tached 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. EXCLUSIONS FROM COVERAGE (a) created, suffered, assumed, or agreed to by the Insured Claimant; (b) not Known to the Company, not recorded in the Public Re- cords 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 sus- tained 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 (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. 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, regulat- ing, prohibiting, or relating to (i) the occupancy, use, or enjoyment of the Land; (ii) the character, dimensions, or location of any improve- ment 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. 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 OP -25 ALTA Owners Policy of Title Insurance 6-17-06 (with FLORIDA Modifications) (WLTIC Edition 1/26/11) Page 2 CONDITIONS 1. DEFINITION OF TERMS The following terms when used in this policy mean: (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, devisees, survivors, personal representatives, or next of kin; (B) successors to an Insured by dissolution, merger, con- solidation, 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 En- tity 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 construc- tive 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 /natters affecting the Title. (g) "Land": The land described in Schedule A, and affixed improve- ments that by law constitute real property. The tern "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 policy. (h) "Mortgage": Mortgage, deed of trust, trust deed, or other secu- rity instrument, including one evidenced by electronic means authorized bylaw. (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 delivery of marketable title. 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 war- ranties 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 Condi- tions, (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. 5. 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 OP -25 ALTA Owners Policy of Title Insurance 6-17-06 (with FLORIDA Modifications) (WLTIC Edition 1/26/11) Page 3 CONDITIONS - 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 appropri- ate 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 (a) In all cases where this policy permits or requires the Company to prosecute or provide for the defense of any action or proceed- ing 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 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 representa- tive 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, 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 copy all of these records in the custody or control of a third party that reasonably pertain to the loss or dam- age. 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 CONTINUED 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 Claim- ant 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 li- ability 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. (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 Con- ditions 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 Com- pany will also pay those costs, attorneys' fees, and expenses in- curred in accordance with Sections 5 and 7 of these Conditions. 9. LIMITATION OF LIABILITY (a) If the Company establishes the Title, or removes the alleged defect, lien, or encumbrance, or cures the lack of a right of ac- cess 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. OP -25 ALTA Owners Policy of Title Insurance 6-17-06 (with FLORIDA Modifications) (WLTIC Edition 1/26/11) Page 4 (b) In the event of any litigation, including litigation by the Com- pany or with the Company's consent, the Company shall have no liability for loss or damage until there has been a final deter- mination 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 set- tling 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 ofInsurance by the amount of the payment. 11. LIABILITY NONCUMULATIVE The Amount of Insurance shall be reduced by any amount the Com- pany 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 Com- pany 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 As- sociation may be demanded if agreed to by both the Company and the Insured at the time of a controversy or claim. Arbitrable mat- ters may include, but are not limited to, any controversy or claim between the Company and the Insured arising out of or relating to this policy, and service of the Company in connection with its issuance or the breach of a policy provision 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 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. (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 provi- sions. 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. 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: 875 Concourse Parkway South, Suite 200, Maitland, FL 32751. OP -25 ALTA Owners Policy of Title Insurance 6-17-06 (with FLORIDA Modifications) (WLTIC Edition 1/26/11) Page 5 OWNER'S POLICY OF TITLE INSURANCE (With Florida Modifications) WESTCOR LAND TITLE INSURANCE COMPANY OWNER'S POLICY OF TITLE INSURANCE • . HOME OFFICE 875 Concourse Parkway South, Suite 200 Maitland, FL 32751 Telephone: (407) 629-5842 Note: This policy consists of insert pages labeled "Schedule A" and "Schedule B" and is of no force or effect unless all schedules are included, along with any Rider pages incorporated by reference in the insert pages. SCHEDULE A Agent's File No: 45081401 Policy No: OP-25-FL1394-4216606 Effective Date: April 10, 2015 at 1:00 PM Amount of Insurance: $ 68,268.00 Address: 5030 5920 26TH St., Vero Beach, FL 1. The Insured hereunder, in whom title to the fee simple estate is vested at the date hereof, is: Indian River County, a political subdivision of the State of Florida 2. In addition to those referred to in Schedule B hereof, the land herein described is encumbered by the following mortgage(s), and assignments thereof (if any): None! 3. The land referred to in this policy is situated in the County of Indian River, State of Florida, and is described as follows: South 115 feet of Lot A, Hampshire Subdivision, according to the Plat thereof, recorded in Plat Book 2, Page(s) 99, of the Public Records of Indian River County, Florida. And A Portion of those lands described in Official Records Book 2193, Page 2241 of the Public Records of Indian River County, Florida, said Lands lying in Tract Poll - Policy Insert Page 1 wner=sfflitle Insurance, 16, Section 32, Township 32 South, Range 39 East, according to the last general Plat of the lands of the Indian River Farms Company Subdivision, as recorded in Plat Book 2, Page 25 of the Public Records of St Lucie County, Florida; Said Land lying and being in Indian River County, Florida, being more particularly described as follows: The North 30 feet of the South 90 feet of the East 10.47 acres of the West 20.47 acres of Tract , Section 32, Township 32 South, Range 39; Less and Except the West 137 feet thereof. Countersigned: ATLANTIC COASTAL LAND TITLE COMPANY, LLC 855 21s` St., Suite C, Vero Beach, Florida 32960 Telephone: 772-569-4364 Poll - Policy Insert Page 2 Agent's File No: 45081401 Policy No: OP-25-FL1394-4216606 SCHEDULE B This policy does not insure against loss or damage (and the Company will not pay costs, attorneys' fees or expenses) which arise by reason of: GENERAL EXCEPTIONS: 1. (a) Any encroachment, encumbrance, violation, variation, or adverse circumstances 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 on the Land of the existing improvements located on adjoining land. (b) Easements, or claims of easements, not shown by the public records. (c) If the land described herein abuts a river, lake, stream or other waterway --- the nature and extent of riparian and/or littoral rights, title to any portion of the land which is submerged, title to any portion below the mean high water mark of a tidal waterway, and title to any portion which consists of "filled-in lands"; and/or any claim that any portion of said lands are sovereign lands of the State of Florida. (d) Taxes or special assessments which are not shown as existing liens by the public records. SPECIAL EXCEPTIONS: 2. The mortgage referred to in item 2 of Schedule A hereof, if any. 3. General and special real property taxes and assessments for tax year 2015 and subsequent years. 4. Restrictions, reservations, setbacks and easements, if any, as indicated and/or shown on that certain Plat recorded in Plat Book 2, at Page(s) 99, of the Public Records of Indian River County, Florida. 5. Subject to Warranty Deed recorded in Official Records Book 1094, Page 314, of the Public Records of Indian River County, Florida. 6. Riparian rights and littoral rights, if any, incident to the land. Poll - Policy Insert Page 3 7. Any adverse ownership claim by the State of Florida by right of sovereignty to any portion of the lands insured hereunder, including submerged, filled, and artificially exposed lands and lands accreted to such lands. 8. Any and all rights of the United States of America in and to navigable waters or filled-in land formerly within navigable waters and any conditions contained in any permits authorizing the filling in of such land. 9. Title to beds or bottoms of lakes, rivers or other bodies of water located on or within the property are not insured. In accordance with Title 42 United States Code, Section 3604, any covenants, conditions or restrictions referred to herein, which indicate any preference, limitation or discrimination based on race, color, religion, sex, handicap, familial status or national origin, are hereby deleted Note 1: This policy does not insure against loss or damage arising as the result of unpaid charges for public utilities furnished by any county, municipality, or public service corporation, which may be or may become a lien upon the land insured hereby under any provision of the Florida Statutes including Section 159.17; and/or any county, municipal, or special taxing district assessment, including those levied under the provisions of Chapter 190, Florida Statutes. Note 2: All references herein to recorded instruments, refer to recordations contained within the Public Records of the county in which the land is located. Reference to instruments among the Public Records refer to the first recorded page of the instrument, but include by reference all pages recorded under the Clerk's File Number assigned to the instrument referred to. Poll - Policy Insert Page 4