HomeMy WebLinkAbout2018-073AAGREEMENT TO PURCHASE AND SELL REAL ESTATE
BETWEEN INDIAN RIVER COUNTY
AND
KEITH TAIG
THIS AGREEMENT TO PURCHASE AND SELL REAL ESTATE ("Agreement") is
made and entered into as of the 17 day of April , 2018, by and between Indian
River County, a political subdivision of the State of Florida ("the County"), and Keith Taig
("the Seller) who agree as follows:
WHEREAS, Seller owns property located at 6886 61st Street, Vero Beach, FL. A
legal description of the property is attached to this agreement as Exhibit "A" and
incorporated by reference herein; and
WHEREAS, the County is scheduled to do road improvements on 66th Avenue
between 49th Street and 815t Street in the future and the road expansion will impact the
Seller's property; and
WHEREAS, in order for the County to proceed with its road expansion plans, the
County needs to purchase property to be used as right-of-way from landowners along and
adjacent to 66th Avenue -,and
WHEREAS, the County contacted the Seller and offered to purchase right-of-way of
approximately 4,601 square feet or 0.11 acres of property as depicted on Exhibit "B", and
WHEREAS, the Parties agree this is an arm's length transaction between the Seller
and the County, without the threat of eminent domain.
NOW, THEREFORE, in consideration of the mutual terms, conditions, promises,
covenants and premises hereinafter, the COUNTY and SELLER agree as follows -
1 .
ollows:
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 6886 61 st Street, Vero
Beach, FL and more specifically described in the legal description attached as Exhibit "B",
fee simple, containing approximately 4,601 square feet, 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 shall be $7,000.00 (Seven Thousand 00/100 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.
3. Title. Seller shall convey marketable title to the Property by warranty deed free of
claims, liens, easements and encumbrances of record or known to Seller; but subject to
property taxes for the year of Closing and covenants, restrictions and public utility
easements of record provided (a) there exists at Closing no violation of any of the
foregoing; and (b) none of the foregoing prevents County's intended use and development
of the Property ("Permitted Exceptions").
3.1 County may order an Ownership and Encumbrance Report or Title Insurance
Commitment with respect to the Property. County shall within fifteen (15) days following
the Effective Date of this Agreement deliver written notice to Seller of title defects. Title
shall be deemed acceptable to County if (a) County fails to deliver notice of defects within
the time specified, or (b) County delivers notice and Seller cures the defects within thirty
(30) days from receipt of notice from County of title defects ("Curative Period"). Seller shall
use best efforts to cure the defects within the Curative Period and if the title defects are not
cured within the Curative Period, County shall have thirty (30) days from the end of the
Curative Period to elect, by written notice to Seller, to: (i) to terminate this Agreement,
whereupon shall be of no further force and effect, or (ii) extend the Curative Period for up
to an additional 90 days; or (iii) accept title subject to existing defects and proceed to
closing.
4. Representations of the Seller.
4.1 Seller is indefeasibly seized of marketable, fee simple title to the Property, and is the
sole owner of and has good right, title, and authority to convey and transfer the Property
which is the subject matter of this Agreement, free and clear of all liens and
encumbrances.
4.2 From and after the Effective Date of this Agreement, Seller shall take no action
which would impair or otherwise affect title to any portion of the Property, and shall record
no documents in the Public Records which would affect title to the Property, without the
prior written consent of the County.
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) 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.
(c) 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.
(d) The Seller and the County shall each deliver to the other such other documents or
instruments as may reasonably be required to close this transaction.
6.2 Taxes. All taxes and special assessments which are a lien upon the property on or
prior to the Closing Date (except current taxes which are not yet due and payable)
shall be paid by the Seller.
7. Personal Property.
7.1 The Seller shall have removed all of its personal property, equipment and trash from
the Property. The Seller shall deliver possession of the Property to County vacant and in
the same or better condition that existed at the Effective Date hereof.
7.2 Seller shall deliver at Closing all keys to locks and codes to access devices to
County, if applicable.
8. Closing Costs; Expenses. County shall be responsible for preparation of all Closing
documents.
8.1 County shall pay the following expenses at Closing:
8. 1.1 The cost of recording the warranty deed and any release or satisfaction obtained by
Seller pursuant to this Agreement.
8.1.2 Documentary Stamps required to be affixed to the warranty deed.
8.1.3 All costs and premiums for the owner's marketability title insurance commitment and
policy, if any.
8.2 Seller shall pay the following expenses at or prior to Closing:
8.2.1 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.
9. Miscellaneous.
9.1 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.
9.2 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.
9.3 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.
9.4 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: Keith Taig
6886 61St Street
Vero Beach, FL 32967
If to County: Indian River County
1801 27th Street
Vero Beach, FL 32960
Attn: Land Acquisition/Monique Filipiak
Either party may change the information above by giving written notice of such change as
provided in this paragraph.
4
9.5 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.
9.6 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.
9.7 Counterparts. This Agreement may be executed in two or more counterparts, each
one of which shall constitute an original.
9.8 County Approval Required: This Agreement is subject to approval by the Indian
River County Board of County Commissioners as set forth in paragraph 2.
9.9 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, FSC -**)b co fM�ss
BOARD OF COUNTY COM 8
Peter D. O'Bryan, Chairm' && ;_% J keifli Taig Date
AM,
% 9�........
..........
Approved by BCC _Apr; i i 7, 201•R
ATTEST:
Jeffrey R. Smith, Clerk of Court and
Comptroller ,
ME
Jason E./Bro�vn, County Administrator
Approved as t orm and Leg ufficiency:
� plg'-t
illiam K. DeBraal, Deputy County Attorney
6
EXHIBIT "A"
PBS 2-12 E 10 A OF E 20 A OF TR 15 LESS - & EXCEPT THE E 1/2 THEREOF
LESS R/WS.
Commonly known as: 6886 61St Street, Vero Beach, FL 32967
Parcel ID Number: 32-39-07-00001-0150-00003.2
7
EXHIBIT "B"
N LEGAL DESCRIPTION
RIGHT OF WAY PARCEL
THE NORTH 50 FEET OF THE SOUTH 80 FEET OF THE EAST 92 FEET OF
W E THE FOLLOWING DESCRIBED PARCEL AS RECORDED IN OFFICIAL RECORDS
BOOK 1391, PAGE 1299, PUBLIC RECORDS OF INDIAN RIVER COUNTY,
FLORIDA.
S THE EAST 10 ACRES OF THE EAST 20 ACRES OF TRACT 15, SECTION 7, z
TOWNSHIP 32 SOUTH, RANGE 39 EAST, ACCORDING TO THE LAST GENERAL D
0 100' 200' PLAT OF LANDS OF THE INDIAN RIVER FARMS COMPANY AS RECORDED IN 3
PLAT BOOK 2, PAGE 25 OF THE PUBLIC RECORDS OF ST. LUCIE COUNTY, INDIAN RIVER FARMS CO.
GRAPHIC SCALE 100' FLORIDA; LESS AND EXCEPT THE EAST ONE-HALF, THEREOF. PLAT BOOK , m
2, PAGE 25
CONTAINING 4601 SQUARE FEET OR 0.11 ACRES, MORE OR LESS. (ST. L2P to
SUBJECT TO ALL RESTRICTIONS, RESERVATIONS, ABANDONMENT'S,0
EASEMENTS AND RIGHTS OF WAY OF RECORD. TRACT 16 to
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32390700001015000003.2 PARCEL 300 Z.- Z
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SURVEYORS NOTES
1) THIS IS A SKETCH OF LEGAL DESCRIPTION ONLY, NOT A BOUNDARY
RETRACEMENT SURVEY.
2) THE BEARING BASE FOR THIS SURVEY, IS THE SOUTH LINE OF SECTION 7. _
SAID LINE BEARS SOUTH 88'59'05' EAST.
3) THE SCALE OF THIS DRAWING MAY HAVE BEEN DISTORTED DURING
REPRODUCTION' PROCESSES.
4) THIS LEGAL DESCRIPTION AND SKETCH IS BASED ON THE PRELIMINARY
RIGHT OF WAY MAP FOR 66TH AVENUE PREPARED BY BURDETTE AND
ASSOCIATES, DATED 10-10-06, AS DIRECTED BY INDIAN RIVER COUNTY,
FLORIDA.
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EASEMENT LINE and sketch meets the standards of prortke set forth by the Florida
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This Inshwnent Prepared by and Return to:
3120180032519
RECORDED IN THE PUBLIC RECORDS OF
JEFFREY R SMITH, CLERK OF COURT
INDIAN RIVER COUNTY FL
BK: 3120 PG: 254 Page 1 of 3 5/25/2018 4:36 PM
D DOCTAX PD $49.00
Jason Beal
Atlantic Coastal Land Title Company, LLC
855 21st Street, Suite C
Vero Beach, Florida 32960
Our File No.: 48083893
Property Appraisers Parcel Identification (Folio) Number: A portion of 32-39-07-00001-0150-00003/2
Florida Documentary Stamps in the amount of $49.00 have been paid hereon.
Space above this line for Recording Data
WAR"NT Y DEED
THIS WARRANTY DEED, made the V day of May, 2018, by Keith Taig, a single man, whose post office
address is 6886 61st Street, Vero Beach, FL 32967, herein called the Grantor, to Indian River County, a Political
Subdivision of the State of Florida, whose post office address is 1801 27th Street, Vero Beach, FL 329670,
hereinafter called the Grantee:
(Wherever used herein the ternis "Grantor" and "Grantee" include all the parties to this instrument and the heirs, legal
representatives and assigns of individuals, and the successors and assigns of corporations)
W I T N E S S E T H: That the Grantor, for and in consideration of the sum of Ten and 00/100 ($10.00) and other
valuable considerations, receipt whereof is hereby acknowledged, hereby grants, bargains, sells, aliens, remises,
releases, conveys and confirms unto the Grantee all that certain land situate in INDIAN RIVER County, State of
Florida, viz.:
RIGHT OF WAY PARCEL
THE NORTH 50 FEET OF THE SOUTH 80 FEET OF THE EAST 92 FEET OF THE FOLLOWING
DESCRIBED PARCEL AS RECORDED IN OFFICIAL RECORDS BOOK 1391, PAGE 1299,
PUBLIC RECORDS OF INDIAN RIVER COUNTY, FLORIDA.
THE EAST 10 ACRES OF THE EAST 20 ACRES OF TRACT 15, SECTION 7, TOWNSHIP 32
SOUTH, RANGE 39 EAST, ACCORDING TO THE LAST GENERAL PLAT OF LANDS OF THE
INDIAN RIVER FARMS COMPANY AS RECORDED IN PLAT BOOK 2, PAGE 25, OF THE
PUBLIC RECORDS OF ST. LUCIE COUNTY, FLORIDA; LESS AND EXCEPT THE EAST ONE-
HALF, THEREOF.
Subject to easements, restrictions and reservations of record and taxes for the year 2018 and thereafter.
TOGETHER, with all the tenements, hereditaments and appurtenances thereto belonging or in anywise appertaining.
TO HAVE AND TO HOLD, the same in fee simple forever.
AND, the Grantor hereby covenants with said Grantee that the Grantor is lawfully seized of said land in fee simple;
that the Grantor has good tight and lawful authority to sell and convey said land, and hereby 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 accruing subsequent to December 31, 2017.
File No.: 48083893
r.TF
IN WITNESS WHEREOF, the said Grantor has signed and scaled these presents the day and year first above written.
Signed, sealed and delivered in the presence of.
Witness anted Name
WitnessT2 Si nature
Witness #2 Printed Name
State of Florida
County of Indian River
&4�rt i�i 4 (Seal)
Keith Taig
The foregoing instrument was acknowledged before me this 23day of May, 2018, by Keith Taig, who is personally
known to me or has produced 104-- as identification.
SEAL
My Commission Expires:
JASON A
y P IIAL
Notary Public -State
of Florida
S Commission #
GG 017550
MY Comm. Expires Oct 11, 2020
Bonded through National Notary Assn.,
File No.: 48083893
Printed Notary Name
go
32390700001015000003;2
ORB 1391, pr,. 1299
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'EXHIBI i"B"
LEGAL DESCRIPTION:
THIG I's
RIGHT OF WAY PARCEL
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THE NORTH .60 FEET OF THE SOUTH 80 FEET OF -THE EAST:. 92 FEET OF
TH OR,
THE FOLLOWING DESCRIBED PARCEL AS RECORDED IN OFFICIAL RECORDS
2). THE BEARING BASE FOR THIS SURVEY, IS THE, SOUlli LINE OF SECTION 7.
BOOK 1391'. PAGE 1299m PUBLIC RECORDS. OF INDIAN RIVER COUNTY;.
SECTION tj
:
EASEMENT
FLORIDA.
THE EAST 10 ACRES OF THEAtAST 26 ACRES .OF TRACT 15,SECTION 7
om'r
TOWNSHIP 32 SOUTH.. RANGE 39TAST. ACCORDING TO THE LASTGENERAL
PLAT OF LANDS OF THE INDIAN RIVER FARMS 'COMPANY AS; RECORDED IN
31 THE SCALE OF THIS DRAIMNG MAY HAVE BEEN DISTORTED DURING
PLAT BOOK2, PACE 25 OF THE *PUBLIC RECORDS OF ST. WCIE COUNTY,
INDIAN :RIVER
FLORIDA; LESS AND EXCEPT- THE, EAST ONE—HALF, THEREOF.
PLAT BOOK
CONTAINING 4601 SQUARE FEET OR 0..11 ACRES;. MORE OR LESS�.,.
(ST: L
SUBJECT TO. ALL RESTRICTIONS, RESERVATIONS" ABANDONMENT'S,
TRAC'
EASEMENTS AND RIGHTS OF WAY OF RECORD,
:P.O.B.
POINT Or I
EIGHT OF WAY MAP FOR: 667H* AVENUE PREPARED BY BURDETTE AND:
PARCEL 300 Z_ Z_ . . .
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4.601 SO. Fr.
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ORB
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Pb:
EXISTING RZW LINE
EXISTING R/W LINE
TRACT LINE
TRACT 2
PROPOSED R/ LINE
SURVEYORS: NOTE
1) THIS 19 A SKETCH OF LEGAL DESCRIPTION:bNLY, NOTA BOUNDARY
RETRACEMENT SURVEY:
LEGEND
2). THE BEARING BASE FOR THIS SURVEY, IS THE, SOUlli LINE OF SECTION 7.
SECTION tj
:
EASEMENT
SAID LINE BEARS: SOUTH 88'59'05" EAST.,
PROPERTY
PROPOSED:
31 THE SCALE OF THIS DRAIMNG MAY HAVE BEEN DISTORTED DURING
PARCEL
REPkObUdljON: PkbdES$FS.
RIGHT : OF: 1
-P 0 C.
POINT OF:
4) THIS LEGAL DESCRIPTlON AND SKETCH IS: BASED ON THE: PRELIMINARY
:P.O.B.
POINT Or I
EIGHT OF WAY MAP FOR: 667H* AVENUE PREPARED BY BURDETTE AND:
R/
RIGHT OF
ASSOCIATES, DATED 10-10-06, AS DIRECTED BY INDIAN: RIVER COUNTY:
ORB
OFFICIAL R
FLORIDA.
Pb:
PAGE:
►�l WESTCOR POLICY NO.
LAND TITLE INSURANCE COMPANY OP-25-FL1394-6921167
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 TIIE EXCLUSIONS FROM COVERAGE, THE EXCEPTIONS FROM COVERAGE CONTAINED IN
SCHEDULE B, AND THE CONDITIONS, Westcor Land Title Insurance Company, a South Carolina 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 governmental authority due or payable, but
unpaid.
(c) Any encroachment, encumbrance, violation, variation, or adverse circumstance affecting the Title that would be
disclosed by an accurate and complete land survey of the Land. The term "encroachment" includes encroachments
of existing improvements located on the Land onto adjoining land, and encroachments onto the Land of existing
improvements located on adjoining land.
3. Unmarketable Title.
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. WESTCOR LAND TITLE INSURANCE COMPANY
Issued By: FL1394 * 48083893
Atlantic Coastal Land Title Company, LLC ^n JawMA
By ' ' - 1
855 21st Street, Suite C ;°a�oaroR,T��i�_
Vero Beach, FL 32960 SFS �;m_ esidc t
,po t593 r;3s'� _
Attest:
Secret y
OP -25 ALTA Owners Policy of Title Insurance 6-17-06 (with FLORIDA Modifications) (WLTIC Edition 12/1/17) 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 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
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,
f1. (a) Any law, ordinance, pen -nit, 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 I(a) does
not modify or limit the coverage provided under Covered
Risk 5.
(b) Any govermnental police power. This Exclusion 1(b) does not
modify or limit the coverage provided under Covered Risk 6.
(a) created, suffered, assumed, or agreed to by the Insured
Claimant;
(b) not Known to tine 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.
2. Rights of eminent domain. This Exclusion does not modify or S. Any lien on the Title for real estate taxes or assessments imposed
limit the coverage provided under Covered Risk 7 or 8. by governmental authority and created or attaching between
Date of Policy and the date of recording of the deed or other
3. Defects, liens, encumbrances, adverse claims, or other matters instrument of transfer in the Public Records that vests Title as
shown in Schedule A.
OP -25 ALTA Owners Policy of Title Insurance 6-17-06 (with FLORIDA Modifications) (WLTIC Edition 1211117) 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 $(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 terns "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.
(t") "Knowledge" or "Known": Actual knowledge, not constnre-
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 tcnn "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 instrtunent, 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 1211!17) Page 3
CONDITIONS - CONTINUED
other act that in its'o b d ' III
11, mn may e necessary of esrra a 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 a d fl; b'1't • f
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.
n a nmSSI01r O ra r r y ou warvel o any provtsrOil 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 o f 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
Upon the exercise by the Company of this option, all liability
and obligations of the Company to the Insured wider this policy,
other than to make the payment required in this subsection,
shall tenninate, including any Iiability 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 wider
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 6-17-66 (with FLORIDA Modifications) (WLTIC Edition 1211117) 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,
attomeys' 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
shalt execute documents to evidence the transfer to the Com-
pany of these rights and remedies. The Insured Claimant shall
pen -nit 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 terns 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 terns 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 terns 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 12/1/17) 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
ALTA 6-17-06 OWNER'S POLICY (WITH FLORIDA MODIFICATIONS)
SCHEDULE A
File Number: Policy Number: Date of Policy:
48083893 OP-25-FL1394- 5/2512018 @ 4:36 PM
6921167
Property Type:
State: Florida, County: INDIAN RIVER
Address Reference: 6886 61st Street, Vero Beach, FL 32967
1. Name of Insured:
Premium: Amount of Insurance:
$100.00 $7,000.00
Indian River County, a Political Subdivision of the State of Florida
2. The estate or interest in the Land that is insured by this policy is: FEE SIMPLE
3. Title is vested in:
Indian River County, a Political Subdivision of the State of Florida
4. The Land referred to in this policy is described as follows:
RIGHT OF WAY PARCEL
THE NORTH 50 FEET OF THE SOUTH 80 FEET OF THE EAST 92 FEET OF THE FOLLOWING
DESCRIBED PARCEL AS RECORDED IN OFFICIAL RECORDS BOOK 1391, PAGE 1299,
PUBLIC RECORDS OF INDIAN RIVER COUNTY, FLORIDA.
THE EAST 10 ACRES OF THE EAST 20 ACRES OF TRACT 15, SECTION 7, TOWNSHIP 32
SOUTH, RANGE 39 EAST, ACCORDING TO THE LAST GENERAL PLAT OF LANDS OF THE
INDIAN RIVER FARMS COMPANY AS RECORDED IN PLAT BOOK 2, PAGE 25, OF THE
PUBLIC RECORDS OF ST. LUCIE COUNTY, FLORIDA; LESS AND EXCEPT THE EAST ONE-
HALF, THEREOF.
Note: This policy is of no force and effect unless Schedule A and Schedule B are attached together with any added pages
incorporated by reference.
OP -25S / ALTA 6-17-06 Owner's Policy Schedule A and B (With Florida Modifications)
Our File No.: 48083893
(WLTIC Edition 1126111)
LTF-1
I ALTA 6-17-06 OWNER'S POLICY (WITH FLORIDA MODIFICATIONS) I
Issued By
Atlantic Coastal Land Title Company, LLC
855 21 st Street, Suite C
Vero Beach, Florida 32960
772569-4364 Telephone
772-569-8688 Fax
LTF
Note: This policy is of no force and effect unless Schedule A and Schedule B are attached together with any added pages
incorporated by reference.
OP -25S / ALTA 6-17-06 Owner's Policy Schedule A and B (With Florida Modifications) (WLTIC Edition 1/26/11)
Our File No.: 48083893
ALTA 6-17-06 OWNER'S POLICY (WITH FLORIDA MODIFICATIONS)
Policy No. OP-25-FL1 394-6921167
File No.: 48083893
EXCEPTIONS FROM COVERAGE
Except as provided in Schedule B - Part 11, this policy does not insure against loss or damage, and the Company will not
pay costs, attorneys' fees, or expenses that arise by reason of: .
1. Rights or claims of parties in possession not shown by the Public Records.
2. Encroachments, overlaps, boundary lines disputes, and other matters which would be disclosed by an
accurate survey and. inspection of the premises.
3. Easements or claims of easements not shown by the Public Records.
4. Taxes or special assessments which are not shown as existing liens by the public records.
5. Taxes and assessments for the year 2018 and subsequent years, which are not yet due and payable.
6. unpaid service charges for service by any water, sewer or gas system supplying the insured land.
7. Restrictions, reservations, setbacks and easements, if any, as indicated and/or shown on that certain Plat
recorded in Plat Book 2, at Page(s) 25, of the Public Records of St. Lucie County, Florida, said lands now
lying and being in Indian River County, Florida.
8. Restrictive Covenant recorded in Official Records Book 1391, Page 1297, of the Public Records of Indian
River County, Florida.
9. Affidavit of Exemption recorded in Official Records Book 1515, Page 973, of the Public Records of Indian
River County, Florida.
10. Affidavit of Exemption recorded in Official Records Book 1416, Page 1221, of the Public Records of Indian
River County, Florida.
11. Well Agreement recorded in Official Records Book 2887, Page 2450, of the Public Records of Indian River
County, Florida.
12. Easement recorded in Official Records Book 1515, Page 973, of the Public Records of Indian River
County, Florida.
13. Riparian rights and littoral rights, if any, incident to the land.
Note: This policy is of no force and effect unless Schedule A and Schedule B are attached together with any added pages
incorporated by reference.
0P -25S /ALTA 6-17-06 Owners Policy Schedule A and B (With Florida Modifications) (WLTIC Edition 1/26/11)
Our File No.: 48083893
LrF-1
A. Settlement Statement U.S. Department of Housing "ir
and Urban Development OMB Approval No. 2502-0265
B. Type of Loan
1. ❑ FHA 2. ❑ RHS 3. El Conv. Unins.
4. EDVA 5. ElConv. Ins.
6. File Number
48083893
7. Loan Number
8. Mortgage Insurance Case Number
C. Note: This form is furnished to give you a statement of actual settlement costs. Amounts paid to and by the settlement agent are shown. Items
marked "(p.o.c.)" were paid outside the closing; they are shown here for information purposes and are not included in the totals.
D. Name and Address of Borrower
Indian River County, a Political Subdivision of the State of
Florida
1801 27th Street
Vero Beach, Florida 329670
E. Name and Address of Seller
Keith Taig
6886 61 st Street
Vero Beach, Florida 32967
F. Name and Address of Lender
G. Property Location
6886 61 st Street
Vero Beach, Florida 32967
INDIAN -RIVER
H. Settlement Agent
Atlantic Coastal Land Title Company, LLC
855 21st St. Suite C, Vero Beach, FL 32960
Place of Settlement I. Settlement Dale
855 21 st Street 05/23118
Suite C
Vero Beach, Florida 32960
J. SUMMARY OF BORROWER'S TRANSACTION:
K. SUMMARY OF SELLER'S TRANSACTION:
100. GROSS AMOUNT DUE FROM BORROWER
400. GROSS AMOUNT DUE TO SELLER
101. Contract sales price 7,000.00
401. Contract sales price
7,000.00
102. Personal property
402. Personal property
103. Settlement charges to borrower line 1400 612.00
403.
104.
404.
105.
405.
Adjustments for items paid by seller in advance
Adjustments for items paid by seller in advance
106. Cit /town lazes to
406. Cd /town taxes to
107. County taxes to
407. County taxes to
108. Assessments to
408. Assessments to
109.
409.
110.
410.
111.
411.
112.
412.
120. GROSS AMOUNT DUE FROM BORROWER 1 7,612.00
420. GROSS AMOUNT DUE TO SELLER
7,000.00
200. AMOUNTS PAID BY OR IN BEHALF OF BORROWER
500. REDUCTIONS IN AMOUNT TO SELLER
201. Deposit or earnest money
501. Excess Deposit (see instructions)
202. Principal amount of new loan(s)
502. Settlement charges to seller (line 1400)
0.00
203. Existing loan(s) taken subject to
503. Existing loans taken subject to
204.
504. Payoff of first mortgage loan
205.
505 Payoff of second mortgage loan
206.
506.
207.
507.
208.
508.
209.
509.
Adjustments for items unpaid by seller
Adjustments for items unpaid by seller
210. Cit /town taxes to
510. Cit /town taxes to
211. County taxes to
511. County taxes to
212. Assessments to
512. Assessments to
213.
513.
214.
514.
215.
515.
216.
516.
217.
517.
218.
518.
219.
519.
220. TOTAL PAID BY/ FOR BORROWER
520. TOTAL REDUCTION AMOUNT DUE SELLER
300. CASH AT SETTLEMENT FROM OR TO BORROWER
600. CASH AT SETTLEMENT TO OR FROM SELLER
301. Gross amount due from borrower line 120
7,612.00
601. Gross amount due to seller line 420
7,000.00
302. Less amounts paid by/for borrower line 220
602. Less reduction amount due to seller line 520
303. CASH FROM BORROWER
7,612.00
603. CASH TO SELLER
7,000.00
- 05-16-2018 at 2:08 PM form HUD -1 (3/86) ref Handbook 4305.2
U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT SETTLEMENT STATEMENT PAGE 2
- 05-16-2018 at 2:08 PM form HUD -1 (3/86) ref Handbook 4305.2
L. SETTLEMENT CHARGES: File Number: 48083893
PAID FROM
PAID FROM
SELLER'S
FUNDSAT
SETTLEMENT
_
700. TOTAL SALES/BROKER'S COMMISSION based on price $ __ BORROWER'S
----
FUNDSAT
Division of commission line 700) as follows: SETTLEMENT
701.
$ to _
702 $ to
703.
CommissionaP id at Settlement
704.
_
800.
ITEMS PAYABLE IN CONNECTION WITH LOAN
P.O.C.
601.
Loan Origination Fee %
802.
Loan Discount %
803.
Appraisal fee to
804.
Credit report to
805.
Lender's inspection fee to
806.
Mtg. ins. application fee to
807.
Assumption fee to
808.
809.
810.
811.
812.
813.
814.
815.
900.
ITEMS REQUIRED BY LENDER TO BE PAID IN ADVANCE
901.
Interest from to $
/day
902.
Mortgage insurance premium to
903.
Hazard insurance premium yrs. to
904.
905.
1000.
RESERVES DEPOSITED WITH LENDER FOR
1001.
Homeowners insurance mo. $
/ mo.
1002.
Mortgage insurance mo. $
/ mo.
1003.
City propertytaxes mo. $
/ mo.
1004.
County propertytaxes mo. $
/ mo.
1005.
Annual Assessments mo. $
/mo.
1006.
mo. $
/ mo.
1007,
mo. $
/ mo.
1008.
Aggregate Reserve for Hazard/Flood Ins, City/County Prop Taxes Mortgage Ins 8 Annual Assessments
1100.
TITLE CHARGES
1101.
Settlement or closing fee to Atlantic Coastal Land Title Company, LLC
300.00
1102.
Abstract or title search to Atlantic Coastal Land Title Company,LLC
85.00
1103.
Title examination to
1104.
Title insurance binder to
1105.
Document preparation to
1106.
Nota fees to
1107.
Attorney's fees to
includes above item No:
1108.
Title insurance to
100.00
1109.
1110.
includes above item No:
Lender's coverage
Owner's coverage 7,000.00 - 100.00
1111.
Digital Archive/LandTech Fee Forensis/LandTech
35.00
1112,
Wire Fee CenterSlate Bank
16.00
1113.
1200.
GOVERNMENT RECORDING AND TRANSFER CHARGES
1201.
Recording fees Deed $ 27.00 Mortgage $
Releases $
27.00
1202.
City/county/stamps Deed $ ; Mortgage $
1203.
State tax/stamps Deed $ 49.00 Mortgage $
49.00
1204.
Intangible Tax Deed $ Mortgage $
1205.
1300.
ADDITIONAL SETTLEMENT CHARGES
1301.
Survey to
1302.
Pest inspection to
1303.
1304.
1305.
1306.
1307.
1308.
1400.
TOTAL SETTLEMENT CHARGES (enter on lines 103 and 502, Sections J and K)
612.00
0.00
- 05-16-2018 at 2:08 PM form HUD -1 (3/86) ref Handbook 4305.2
HUD-! SETTLEMENT STATEWNT
File.Numben 48083893:
l: have carefully reVi6w"Oh HUD -1 -Settlpm tatem and belief; it-.
put entandto4be-best-ofm -ladg-p
y know
is a.trao and of allrepo-fpts- and &burs emep. �j. t - made o accountmy-r. by m I
a. e.
tran.siaotlon I further. certify'that I* ba-ve. received. .4 copy ofte ;HuD-j, ettlemopt: Statement.
Buyer
William
k._DehBraal,_D0puIy -County, Attorney.
In!'theventa proration of taxes is'nece'ssary when the tax. bills for,the curreftt'ye4rare. prepared, the
el
parties;agree. ,qe to. handle said re-pror4tions between themselves.
6�
xelk TAIg.
Seller
Settlement Agent
The 14U.D-1 Settlement Stateftlea WhichI have Pkepared"ig'a,true.,and accurate -account-of thi&trans
I have caused or will cause ,the futidsto-bedisbqrsdd in accordance with this statement:
Atlantic Coastal, Lao.d. T M -Company., LLC
By: Date: May'23rd, 2018.
INDIAN RIVER COUNTY, FLORIDA
MEMORANDUM p
TO: Jason E. Brown, County Administrator o '
THROUGH: Richard B. Szpyrka, P.E., Public Works Director
FROM: Monique Filipiak, Land Acquisition Specialist �lt
SUBJECT: Right -of -Way Acquisition — 66th Avenue Widening Project
Owner: Keith Taig — 6886 61st Street, Vero Beach, FL 32967
DATE: April 4, 2018
DESCRIPTION AND CONDITIONS
Public Works is progressing with Right -of -Way acquisition for the planned improvements of 66th Avenue
between 49th Street - 69th Street. The proposed improvements include widening the existing two-lane
roadway to a four lane divided roadway, traffic signals, bridge replacement, drainage improvements,
grassed or landscaped median and sidewalks. '
Keith Taig owns a 4.89 acre parcel which is zoned A-1. To accommodate the future planned
improvements on 61' St, as part of the 66th Avenue widening project, the County needs to acquire 0.11
acres of the parcel for right-of-way purposes. The County obtained an appraisal of the property indicating
a value of $2,650.00.
Land Value Part Taking $2,643.00
Estimated Value of Improvements $-0.00--
Total
-0.00--Total Just Compensation (rounded) $2,650.00
The County offered $3,000.00 to purchase the 0.13 acres. Mr. Taig counter -offered $7,000.00 based on a
contract between the County and a neighbor's property in 2007, and staff agreed to the offer.
FUNDING
Funding is budgeted and available in Account No. 10215241-066120-07806, Traffic Impact Fees/District
2/ROW/66th Avenue (49th Street — 69th Street).
RECOMMENDATION
Staff recommends the Board approve the Purchase Agreement for the 0.11 acres of property located at
6886 61st Street, Vero Beach, FL 32967, and authorize the Chairman to execute the purchase agreement
on behalf of the Board.
ATTACHMENTS
One Original Purchase Agreement
APPROVED AGENDA ITEM FOR: April 17, 2018
F:\Pub11cWorks\ENGINEERING DIVISION PROJECTS\1505-66th Ave Widening_49th St to 81st St\2-Right of Way\BCC Agenda Memos\Keith
Taig\Keith Taig Agenda Memo.doc