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HomeMy WebLinkAbout2021-143AGREEMENT TO PURCHASE AND SELL REAL ESTATE BETWEEN INDIAN RIVER COUNTY AND CALVIN ARNOLD BETHEL, JR. THIS AGREEMENT TO PURCHASE AND SELL REAL ESTATE ("Agreement") is made and entered into as of the 21 day of September , 2021, by and between Indian River County, a political subdivision of the State of Florida ("the County'), and Calvin Arnold Bethel, Jr. ("the Seller) who agree as follows: WHEREAS, Seller owns three properties located at 2690 49th Street, Vero Beach, Florida 32967, and 49t11 Street, Vero Beach, Florida 32967 and . A legal description of the properties is attached to this agreement as Exhibit "A" and incorporated by reference herein; and WHEREAS, the County is purchasing the property for future stormwater and aquifer recharge purposes; and WHEREAS in order to proceed with future stormwater and drainage plans, the County needs to purchase the properties along 491h Street; and WHEREAS, the County contacted the Seller's reactor, William Moss of Lambert Commercial Real Estate, Inc. to purchase the approximately 8.88 acres of property as depicted on Exhibit "A", and WHEREAS, the Parties agree this is an arm's length transaction between the Seller and the County, without 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. 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 parcels of real property located at 2690 49th Street, Vero Beach, Florida 32967, and 49th Street, Vero Beach, Florida 32967 and more specifically described in the legal description attached as Exhibit "A", fee simple, containing approximately 8.88 acres, 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 $370,000.00 (Three Hundred Seventy Thousand and 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 by Special Warranty Deed 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 thirty (30) 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 reasonable 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. 3.2 This agreement is contingent upon a "clean" Phase 1 Environmental Assessment of the Property for the County's intended use. The Seller shall permit access to the County (or its agent) for such testing and examination needed for the Phase 1 Assessment upon reasonable notice by the County. At the conclusion of the Phase 1 Assessment, the property shall be returned to its original condition, ordinary wear and tear excepted. County shall provide a copy of any such Phase 1 Environmental Assessment of the Property to Seller and County shall indemnify and hold Seller harmless from any damages, claims, or actions arising from or through County, or its agents, contractors and/or vendors access to the Property as granted herein. 4. Representations of the Seller. 4.1 To the best of Seller's knowledge and without further investigation 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 2 no documents in the Public Records which would affect title to the Property, without the prior written consent of the County. 4.3.1 To the best of Seller's knowledge and without further investigation 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 "Special" warranty deed conveying marketable title to the Property, free and clear of all liens and encumbrances "(except as noted or allowed)" and in the condition required by paragraph 3. (b) If Seller is obligated to discharge any `monetary" 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 M instruments as may reasonably be required to close this transaction. 6.2 Taxes. All taxes including non -ad valorem 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. Notwithstanding the foregoing and regardless of when the Closing of this transaction occurs, the Seller shall not be responsible to pay, 2021 real estate taxes including non -ad valorem taxes and special assessments which may accrue, become due and payable after the Effective Date of this Agreement. 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 similar 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 all 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. 8.1.4 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 "monetary" encumbrances upon the Property. 8.1.5 The estimated closing costs for this purchase transaction is $4,700.00. 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 4 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: Calvin Arnold Bethel, Jr. 4745 33rd Avenue 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. 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 5 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. IN WITNESS WHEREOF, the undersigned have executed this Agreement as of the date first set forth above. . y �OM11M/SS• INDIAN RIVER COUNTY, FLO,Pq A �O? BOARD OF COUNTY COMMI9101 S Flescher, Chairman':9y . r, r,,, •'o Date Approved by BCC September 21, 2021 ATTEST: Jeffrey R. Smith, Clerk of Court and Comp Iler Y• B �V De uty Clerk App Jason E.[Bro)Nn, County Administrator Approved as to Form and Legal Sufficiency: V tVOiam K. DeBraal, Deputy County Attorney G n Bethel Arnold, Jr. j�2 Z1 n/Date EXHIBIT "A" Parcel Id #32-39-23-00000-3000-00020.0 — 2690 49" Street, Vero Beach, FL 32967 The Southwest '/A of the Northwest'!, lying West of the Right of Way of The Florida East Coast Railway Company, less a Lot 100 feet East and Westby 100 feet North and South, as in Record Book 186, at rage 204, and less a lot 100 feet East and West by 100 North and South as in official Records Book 527, at Page 406, lying and being in Section 23, Township 32 South, Range 39 East, in the Public Records of Indian River County, Florida. Also described as: That part of the North 35 acres of the Southwest'/. of the Northwest'/. lying West of the Right of Way of the Florida East Coast Railway Company in Section 23, Township 32 South, Range 39 East, Indian River County, Florida. LESS said property commencing at the southwest corner of the northwest '/+ of Section 23, North Township 32 South, Range 39 East; thence proceed along the West line of aforesaid Section 23, North 00° 41' 54" West a distance of 25.00 feet to the North tight -of -way line of Lindsey Road (49`' Street) and the point of beginning; thence proceed along the West line of Section 23, Notch 000 41154" West of Section 23 100 feet; thence departing said West line of Section 23, run East along a line parallel with the North line of Lindsey Road a distance of 100.0 feet; thence South 00° 41'54" East on a line parallel with the West line of Section 23, to a point on the North right-of-way I ine ofLindsey Road (49" Street), thence run West along the North right- of-way line of Lindsey Road 100.00 feet to the point of beginning. 7 Parcel Id #32-39-23-00000-3000-00021.0 — 49th Street, Vero Beach, FL 32967 Commencingat the Southwest corner ofthe Northwest % of Section 23, Township 32 South, Range 39 East; thence; proceed along the West line of said Section 23, North 00141'54" West 175.54 feet to the point of beginning; thence proceed along the West line of Section 23, North 00° 41'54" West 100.00 feet; thence departing said West line of Section 23 run East along a Line parallel with the north line of Lindsey Road a distance of 100.00 feet; thence South 000 41'54" East on a line parallel with the West line of Section 23, 100.00 feet; thence west along a line parallel with the North Line of Lindsey Road 100.00 feet to the point of beginning. Said parcel lying and being in Indian River County, Florida and containing 0.23 acres more or less. Parcel Id #32-39-23-00000-3000-00022.0 — 49th Street, Vero Beach, FL 32967 Commencing at the SW corner of that part of the North 35 acres of the SW 'la of the NW '1. lying West of the right of way of the Florida East Coast Railway, in Section 23, Township 32 South, Range 39 East, thence run East 100 ft. to the point of beginning; thence run East 100 ft. to a point; thence run forth 100 ft. to a point; thence run West 100 ft. to a point; thence run South 100 ft. to a point along the East line of property previously sold to Earl Taylor by deed recorded in Official Record Book 186, Page 204, Public Records of Indian River County, Florida, said boundaries all being parallel to the section line and said land lying and being in Indian River County, Florida. N 1 hhAVE_NUE PI PI � 1 I 1 AVEME _ "aJO-�50 !u 150 1� IY -Y' • �Yi 1 70. _ I -n I'L u . -� Al This Instrument Prepared by: Rosemary Vigliano Atlantic Coastal Land Title Company, LLC 855 21st Street Suite C Vero Beach, FL 32960 After Recording Return to: Indian River County, a political subdivision of the State of Florida 1801 27th Street Vero Beach, FL 32960 Parcel Identification Number: 32-39-23-00000-3000-00020.0; 32392300000300000021.0 and 32-39-23-00000-3000- 00022.0 3120210084621 RECORDED IN THE PUBLIC RECORDS OF JEFFREY R SMITH, CLERK OF COURT INDIAN RIVER COUNTY FL BK: 3491 PG: 796 Page 1 of 3 12/10/2021 10:13 AM D DOCTAX PD $2,590.00 (Space Above This Line For Recording Data) Special Warranty Deed qh THIS SPECIAL WARRANTY DEED (this "Deed") is made as of this day of November, 2021 between Calvin Arnold Bethel, Jr., whose mailing address is 4745 33rd Avenue Vero Beach FL 32967 ("Grantor") to, Indian River County, a political subdivision of the State of Florida whose mailing address is 1801 27th Street, Vero Beach, FL 32960 ("Grantee'). WITNESSETH: THAT Grantor, for and in consideration of the sum of TEN DOLLARS ($10.00), and other good and valuable consideration paid to Grantor by Grantee, the receipt of which is hereby acknowledged, by these presents does grant, bargain, sell and convey to Grantee, and Grantee's successors and assigns forever, all the right, title, and interest in and to that certain real property (the "Property") located and situated in Indian River County, Florida and fully described as follows: FOR PROPER TY DESCRIPTION, SEE EXHIBIT "A "ATTACHED HERETO AND MADE A PART HEREOF. Grantor warrants that at the time of this conveyance, the subject property is not the Grantor's homestead within the meaning set forth in the constitution of the State of Florida, nor is it contiguous to or a part of a homestead property. TOGETHER with all .improvements, easements, tenements, hereditaments and appurtenances belonging to or in any way appertaining to the Property. SUBJECT to taxes for 2022 and subsequent years, not yet due and payable; covenants, restrictions, easements, reservations and limitations of record, if any, without intention of creation or reimposing same. TO HAVE AND TO HOLD the same in fee simple forever. GRANTOR hereby specially warrants the title to the Property and will defend the same against the lawful claims of all persons claiming by, through, or under Grantor, but none other. File No.: 2021-6178 Florida Special Warranty Deed Page I of 3 IN WITNESS WHEREOF, Grantor has duly executed this instrument as of the date first written above. RANTOR: C. Cal<;Eiplout Ca vin Arnold Bethel, Jr. NAME: Jamie ri_ Colowich STATE OF FLORIDA COUNTY OF INDIAN RIVER The oregoing instrument was acknowledged before me by means of Vphysical presence or (} online notarization this ay of November, 2021, by nn Arnold Bethel, Jr.. (� Ngtaryr Pubic 5de! d Florida ature of Notary ub is .. demi• D Cdawj h int, Type/Stamp Name of Notary i�� �+► Exp,�es M4 5 128n or w a�4412D25 Personally Known: OR Produced Identification: Type of Idelitificatio� Produced: File No.: 2021-6178 Florida Special Warranty Deed Page 2 of 3 EXHIBIT "A" Property Address: 2690 49th Street and 49t" Street Vero Beach, FL 32967 Parcel 1: The Southwest 1/4 of the Northwest 1/4, lying West of the Right of Way of The Florida East Coast Railway Company, less a Lot 1.00 feet East and West by 100 feet North and South, as in Official Records Book 186, at Page 204, and less a lot 100 feet East and West by 100 North and South as in Official Records Book 527, at Page 406, lying and being in Section 23, Township 32 South, Range 39 East, in the Public Records of Indian River County, Florida. Also described as: That part of the North 35 acres of the Southwest 1/4 of the Northwest 1/4 lying West of the Right of Way of the Florida East Coast Railway Company in Section 23, Township 32 South, Range 39 East, Indian River County, Florida. LESS said property commencing at the southwest corner of the northwest 1/4 of Section 23, Township 32 South, Range 39 East; thence proceed along the West line of aforesaid Section 23, North 00 degrees 4P 54 West a distance of 25.00 feet to the North right-of-way line of Lindsey Road (49th Street) and the point of beginning; thence proceed along the West line of Section 23, North 00 degrees 41' 54" West 100 feet; thence departing said West line of Section 23, run East along a line parallel with the North line of Lindsey Road a distance of 100.0 feet; thence South 00 degrees 41' 54" East on a line parallel with the West line of Section 23, to a point on the North right-of-way line of Lindsey Road (49th Street), thence run West along the North right- of-way line of Lindsey Road 100.00 feet to the point of beginning. Parcel 2: A parcel of land in Section 23, Township 32 South, Range 39 East; being more particularly described as follows: Commencing at the Southwest corner of the Northwest 1/4 of Section 23, Township 32 South, Range 39 East; thence; proceed along the West line of said Section 23, North 00 degrees 41'54" West 175.54 feet to the point of beginning; thence proceed along the West line of Section 23, North 00 degrees 41'54" West 100.00 feet; thence departing said West line of Section 23 run East along a Line parallel with the north line of Lindsey Road a distance of 100.00 feet; thence South 00 degrees 41'54" East on a line parallel with the West line of Section 23, 100.00 feet; thence west along a line parallel with the North Line of Lindsey Road 100.00 feet to the point of beginning. Said parcel lying and being in Indian River County, Florida. Parcel 3: Commencing at the SW corner of that part of the North 35 acres of the SW 1/4 of the NW 1/4 lying West of the right of way of the Florida East Coast Railway, in Section 23, Township 32 South, Range 39 East, thence run East 100 ft. to the point of beginning; thence run East 100 ft. to a point; thence run North 100 ft. to a point; thence run West 100 ft. to a point; thence run South 100 ft. to a point along the East line of property previously sold to Earl Taylor by deed recorded in Official Record Book 186, Page 204, Public Records of Indian River County, Florida, said boundaries all being parallel to the section line and said land lying and being in Indian River County, Florida. File No.: 2021-61.78 Florida Special Warranty Deed Page 3 of 3 WESTCOR POLICY NO. LAND TITLE INSURANCE COMPANY OP-25-FL1394-13472374 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 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 * 2021-6178 Atlantic Coastal Land Title Company, LLC a...n,, ';`to••,.. By: ' V AWAA 855 21st Street, Suite C o atm Vero Beach, FL 32960 �SEALi'-_ elide t M' * �,. Attest: nu,l� Secret, y OP -25 ALTA Owners Policy of Title Insurance 6-17-06 (with FLORIDA Modifications) (WLTIC Edition 12!1/.17) Page I 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 anotice 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. 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 un 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, 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 (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. OP -25 ACrA Owners Policy of Title Insurance 6-17-06 (with FLORIDA Modifications) (WLTIC'Edition 12/1/17) 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 OP -25 ALTA Owners Policy of Title insurance 6-17-06 (with FLORIDA Modifications) (WLTIC Edition 12/1117) Page 3 other act that in its opinion may CONDITIONS - CONTINUED 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 pursuantto this Section shall not be disclosed to others unless, in the reasonable judgment of the Company, it is necessary in the administration of the claim. Failure of the Insured Claimant to submit for examination under oath, produce any reasonably requested information, or grant permission to secure reasonably necessary information from third parties as required in this subsection, unless prohibited by law or governmental regulation, shall terminate any liability of the Company under this policy as to that claim. 7. OPTIONS TO PAY OR OTHERWISE SETTLE CLAIMS; TERMINATION OF LIABILITY In case of a claim under this policy, the Company shall have the following additional options: (a) To Pay or Tender Payment of the Amount of Insurance, To pay or tender payment of the Amount of Insurance under this policy together with any costs, attorneys' fees, and expenses incurred by the Insured Claimant that were authorized by the Company up to the time of payment or tender of payment and that the Company is obligated to pay. Upon the exercise by the Company of this option, all liability and obligations of the Company to the Insured under this policy, other than to make the payment required in this subsection, shall terminate, including any liability or obligation to defend, prosecute, or continue any litigation. (b) To Pay or Otherwise Settle With Parties Other Than the Insured or With the Insured Claimant. (i) to pay or otherwise settle with other parties for or in the name of an Insured Claimant any claim insured against under Us policy. In addition, the Company will pay any costs, attomeys' 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, attomeys' 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 1211/17) 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 theAmount 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 trade 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 ofa 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 terns 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 Rill 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 ofAmerica 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 WESTCOR LAND TITLE INSURANCE COMPANY ALTA 6-17-06 OWNER'S POLICY (With Florida Modifications) SCHEDULE A Name and Address of Title Insurance Company: Westcor Land Title Insurance Company, 875 Concourse Parkway South, Suite 200, Maitland, Florida 32751, Phone No.: (407) 629-5842. State: FL County: Indian River Address Reference: 2690 49th Street, Vero Beach, FL 32967; 49th Street, Vero Beach, FL 32967; and 49th Street, Vero Beach, FL 32967 File Number: Policy Number: Date of Policy: Premium: Amount of Insurance: December 10, 2021 at 2021-6178 OP-25-FL1394- 10:13 AM or recording $1,925.00 $370,000.00 13472374 date of the insured instrument, whichever is later 1. Name of Insured: Indian River County, a political subdivision of the State of Florida 2. The estate or interest in the Land that is insured by this policy is: Property 1: Fee Simple Property 2: fee simple Property 3: 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: See Exhibit A attached hereto and made part hereof. Issued By: Atlantic Coastal Land Title Company, LLC 855 21 st Street Suite C Vero Beach, FL 32960 Authorized Signatory 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 6/24/15) WESTCOR LAND TITLE INSURANCE COMPANY ALTA 6-17-06 OWNER'S POLICY (With Florida Modifications) File #: 2021-6178 Policy #: OP-25-FL1394-13472374 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: Exceptions: 1. Defects, liens, encumbrances, adverse claims or other matters, if any, created, first appearing in the public records or attaching subsequent to the effective date hereof but prior to the date the proposed insured acquires for value of record the estate or interest or mortgage thereon covered by this Commitment. 2. Rights or claims of parties in possession not shown by the Public Records. 3. Any encroachment, encumbrance, violation, variation, or adverse circumstance affecting the Title that would be disclosed by an accurate and complete 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 existing improvements located on the adjoined land. 4. Easements or claims of easements not shown by the Public Records, 5. Taxes or special assessments which are not shown as existing liens by the public records. 6. Taxes and assessments for the year 2022 and subsequent years, which are not yet due and payable. 7. Any lien provided by Chapter 159, Florida Statutes, in favor of any city, town, village or port authority for unpaid service charges for service by any water, sewer or gas system supplying the insured land. 8. Temporary Construction Easement recorded in Official Records Book 2982, Page 1654, of the Public Records of Indian River County, Florida. 9. Easement(s) in favor of Indian River County recorded in Official Records Book 793, Page 614, of the Public Records of Indian River County, Florida. 10. Easement(s) in favor of Sprint Communications Company L.P., et al recorded in Official Records Book 2643, Page 1013, Official Records Book 2677, Page 1567, and Official Records Book 2711, Page 2261, of the Public Records of Indian River County, Florida. OP -25S /ALTA 6-17-06 Owner's Policy schedule A and 6 (With Florida Modifications) (WLTIC Edition 6/24/15) File No.: 2021-6178 Agent No.: FL1394 Parcel 1: WESTCOR LAND TITLE INSURANCE COMPANY ALTA 6-17-06 OWNER'S POLICY (With Florida Modifications) Policy No.: OP-25-FL1394-13472374 The Southwest 1/4 of the Northwest 1/4, lying West of the Right of Way of The Florida East Coast Railway Company, less a Lot 100 feet East and West by 100 feet North and South, as in Official Records Book 186, at Page 204, and less a lot 100 feet East and West by 100 North and South as in Official Records Book 527, at Page 406, lying and being in Section 23, Township 32 South, Range 39 East, in the Public Records of Indian River County, Florida. Also described as: That part of the North 35 acres of the Southwest 1/4 of the Northwest 1/4 lying West of the Right of Way of the Florida East Coast Railway Company in Section 23, Township 32 South, Range 39 East, Indian River County, Florida. LESS said property commencing at the southwest corner of the northwest 1/4 of Section 23, Township 32 South, Range 39 East; thence proceed along the West line of aforesaid Section 23, North 00 degrees 41' 54" West a distance of 25.00 feet to the North right-of-way line of Lindsey Road (49th Street) and the point of beginning; thence proceed along the West line of Section 23, North 00 degrees 41' 54" West 100 feet; thence departing said West line of Section 23, run East along a line parallel with the North line of Lindsey Road a distance of 100.0 feet; thence South 00 degrees 41'54" East on a line parallel with the West line of Section 23, to a point on the North right-of-way line of Lindsey Road (49th Street), thence run West along the North right-of-way line of Lindsey Road 100.00 feet to the point of beginning. Parcel 2: A parcel of land in Section 23, Township 32 South, Range 39 East; being more particularly described as follows: Commencing at the Southwest corner of the Northwest 1/4 of Section 23, Township 32 South, Range 39 East; thence; proceed along the West line of said Section 23, North 00 degrees 41'54" West 175.54 feet to the point of beginning; thence proceed along the West line of Section 23, North 00 degrees 41'54" West 100.00 feet; thence departing said West line of Section 23 run East along a Line parallel with the north line of Lindsey Road a distance of 100.00 feet; thence South 00 degrees 41'54" East on a line parallel with the West line of Section 23, 100.00 feet; thence west along a line parallel with the North Line of Lindsey Road 100.00 feet to the point of beginning. Said parcel lying and being in Indian River County, Florida. OP -6S / ALTA 6-17-06 Owner's Policy Exhibit A (WLTIC Edition 4/3/14) WESTCOR LAND TITLE INSURANCE COMPANY ALTA 6-17-06 OWNER'S POLICY (With Florida Modifications) Parcel 3: Commencing at the SW corner of that part of the North 35 acres of the SW 1/4 of the NW 1/4 lying West of the right of way of the Florida East Coast Railway, in Section 23, Township 32 South, Range 39 East, thence run East 100 ft. to the point of beginning; thence run East 100 ft. to a point; thence run North 100 ft. to a point; thence run West 100 ft. to a point; thence run South 100 ft. to a point along the East line of property previously sold to Earl Taylor by deed recorded in Official Record Book 186, Page 204, Public Records of Indian River County, Florida, said boundaries all being parallel to the section line and said land lying and being in Indian River County, Florida. OP -25S / ALTA 6-17-06 Owners Policy Schedule A and B (With Florida Modifications) (WLTIC Edition 6/24/15)