HomeMy WebLinkAboutProperty_Other_05/05/1995 �= ISSUED BY �
Commonwealth �� POLICY NUMBER
_� Land Title Insurance Company � � � �` � � � � � �
I
OWNER'S POLICY OF TITLE INSURANCE
SUBJECT TO THE EXCLUSIONS FROM :OVERAGE, THE EXCEPTIONS FROM COVFRAGE CONTAINED IN SCHEDULE B AND I '`
Z'HE CONDITtOi�IS ANI? STIPUi.ATIONS, COMMONWEALTH LAND TITI.E INSUR�NCE C.<!?v?D.ANY, a Pennsy �aria corpo�a?ion, here;:: _
called the Company, insures, as of Date of Policy shown ir, Schedule A, against ioss or dzma�e, �e: ��ce�c�r.e ��h Ptrn� ��!�� e` ���s��-znce stG��c -
���' in Schedule A, sustained or incurred by the i�sured by reason of: =��l
� 1. Title to the esiate or interest described in Schedute A being vested other than as statec tne-"a; -�!
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2. Any defect in or lien or encumbrance on the title; �=i
3. Unmarketa6iiity of the title; I
4. Lack of a r6ght of access to and from the land. I
The Company will aiso pay the costs, attorneys' fees and eapenses incurred in defense o` the title, as insured, out onty to the extent provided
in the Conditions and Stipulations.
IN WITNESS WHEREOF, COMMONWEALTH LAN�1 T[TLE INSURANCE COMPANY has caused it� corporare name and seai to be
hereunto affixed by its duly authorized officers, the Policy to become valid when cour,tersigned b}� an authorizec officer or agent of the Company.
COMMONWEALTH LAND �'�'F�,E �1�S�ItA14�� ���E��NY
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;= A!test: ,y f�/ �i �j BY� ✓ '��
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_ Secretary � ` President �'',�I
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�,� EXCLUSIONS FROM COVERAGE i '
I i�' The following matters are expcessty excluded from the coverage of this policy and the Company will not pay loss or damage, costs, attorneys' ��
���'� fees or expenses which arise by reason of:
- 1. (a) Any law, ordinance or governmental reguiation (including but not limited to buitding and zoning laws, ordinances, or regulations) restricting,
-� regulating, prohibiting or relating to (i) the occupac�cy, use, or enjoyment of the land; (ii) the character, dimensions ar focation of� any improvc- I
I � II ment now or hereaftec erecred on the land; (iii) a separation in ownership or a change in the dimensions or area of the land or any parcel o£
- which the land is or was a part; or (iv) environmenta! protection, or the affect of any violation of these laws, ordinances or governmental regula- �
tions, except to the extent that a notice of the enforcement thereof or a nutice of a defect, lien or encumbrance resulting from a violation or
ailesed violation affecting the land has been recorded in the public records at Date of Policy-
�
!,_��� (b} Any governmentat police power not excluded by (a) above, except to the extent that a notice of the exercise thereof or a notice of a defect, �
I� lien or encumbrance resulting from a violation or alleged violation affecting the land has been recorded in the public records at Date of Policy. �
2. Riehts of eminent domain unlesc notice of the exercise thereof has been recorded i❑ the public records at Date of Policy, but not excluding
from coverage any takine which has occurred prior to Date of Policy which would be bindin� on the rights of a purchaser for va{ue without
knowled e. �
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3. Defects, liens, encumbrances, adverse claims or other matters: -
(a) created, suffered, assumed or agreed to by the insured claimant;
(b) not knowr. tc� +he Company, not recorded in the public records at Uate of Policy, but known ro the insured cEaimant and not disclosed
in writing to the Company by the insured claimant prior to the date the insured ciaimant became an insured under lhis policy;
(c) resulting in no loss or damage to the insured daimant;
(d) atrachine or created subsequent to Date of Policy; or
(e) resutting in loss or damag: ��hich would no: have been sustained sf the insured claimant :1ad paid ��alue for the estate or interest insured
by this policy. �I
� 4. Any daim, which arises out of the transaction vesting in the Insured the estate or interest insured by this policy, by reason of the operatior
of federal bankruptcy, state insolvency, or similar creditors' rights laws, that is based on:
(a) the transactior creating the estate or interest insured by this policy being deemed a fraudulent conveyance or fsaudulent tsansfer; or
(b) the transaction crea[ing the estate or interest insured by this policy being deemed a preferencial transfer except where the preferentia( transfer
results from the Cailure:
I =,
(i) to timely record the instrument of transfer; or =
(ii) of such recordation to impart notice to a purchaser for value or a judgment or lien creditn.. _
, ��_�r� �� �� � � u ,__ _ _ -- — �--
ALTA Owner's Policy (10-17-92) Face Page
with Florida ModifiCations Valid Only If Schedules A and B and Cover Are Attached
Fnrm 1190-21 no�r_iniei
CONDITIONS AND STIPULATIONS
1. DEFINITION OF TERMS. (c) Whenever the Company shall have brought an action or interposed a
defense as required or permitted by the provisions of this policy, the
The following terms when used in this policy mean: Company may pursue any litigation to final determination by a court of
competent junsdiction and expressly reserves the right, in its sole discretion,
(a) "insured": the insured named in Schedule A, and, subject to any to appeal from any adverse judgment or order.
rights or defenses the Company would have had against the named insured,
those who succeed to the interest of the named insured by operation of law (d) In all cases where this policy permits or requires the Company to
as distinguished from purchase including, but not limited to, heirs, prosecute or provide for the defense of any action or proceeding, the
distributees, devisees, survivors, personal representatives, next of kin, or insured shall secure to the Company the right to so prosecute or provide
corporate or fiduciary successors. defense in the action or proceeding, and all appeals therein, and permit the
(b) "insured claimant": an insured claiming loss or damage. Company to use, at its option, the name of the insured for this purpose.
Whenever requested by the Company, the insured, at the Company's
(c) "knowledge" or "known": actual knowledge, not constructive expense, shall give the Company all reasonable aid (i) in any action or
knowledge or notice which may be imputed to an insured by reason of the proceeding, securing evidence, obtaining witnesses, prosecuting or
public records as defined in this policy or any other records which impart defending the action or proceeding, or effecting settlement, and (ii) in any
constructive notice of matters affecting the land. other lawful act which in the opinion of the Company may be necessary or
(d) "land": the land described or referred to in Schedule A, and desirable to establish the tiUe to the estate or interest as insured. If the
improvements affixed thereto which by law constitute real property. The Company is prejudiced by the failure of the insured to furnish the required
term "land" does not include any property beyond the lines of the area cooperation, the Company's obligations to the insured under the policy
described or referred to in Schedule A, nor any right , title, interest, estate shall terminate, including any liability or obligation to defend, prosecute, or
or easement in abutting streets, roads, avenues, alleys, lanes, ways or continue any litigation, with regard to the matter or matters requiring such
waterways, but nothing herein shall modify or limit the extent to which a cooperation.
right of access to and from the land is insured by this policy. 5. PROOF OF LOSS OR DAMAGE.
(e) "mortgage": mortgage, deed of trust, trust deed, or other security In addition to and after the notices required under Section 3 of these
instrument. Conditions and Stipulations have been provided the Company, a proof of
(� "public records": records established under state statutes at Date of loss or damage signed and sworn to by the insured claimant shall be
Policy for the purpose of imparting constructive notice of matters relating furnished to the Company within 90 days after the insured claimant shall
to real property to purchasers for value and without knowledge. With ascertain the facts giving rise to the loss or damage. The proof of loss or
respect to Section 1(a) (iv) of the Exclusions From Coverage, "public damage shall describe the defect in, or lien or encumbrance on the title, or
records" shall also include environmental protection liens filed in the other matter insured against by this policy which constitutes the basis of
records of the clerk of the United States district court for the district in loss or damage and shall state, to the extent possible, the basis of
which the land is located. calculating the amount of the loss or damage. If the Company is pre�udiced
by the failure of the insured claimant to provide the requ�red proof of loss
(g) "unmarketability of the title": an alleged or apparent matter afT�ecting or damage, the Company's obligations to the insured under the policy shall
the title to the land, not excluded or excepted from coverage, which would terminate, including any liability or obligation to defend, prosecute, or
entitle a purchaser of the estate or interest described in Schedule A to be continue any litigarion, with regard to the matter or matters requiring suCh
released from the obligation to purchase by virtue of a contractua] proof of loss or damage.
condition requiring the delivery of marketable title.
In addition, the insured claimant may reasonably be required to submit
2. CONTINUATION OF INSURANCE AFTER CONVEYANCE to examination under oath by any authorized repr�sentative of the
OF TITLE. Company and shall produce for examination, inspection and copying, at
such reasonable times and places as may be designated by any authorized
The coverage of this policy shall continue in force as of Date of Policy in representative of the Company, all records, books, ledgers, checks,
favor of an insured only so long as the insured retains an estate or interest correspondence and memoranda, whether bearing a date before or aFter
in the land, or holds an indebtedness secured by a purchase money Date of Policy, which reasonably pertain to the loss or damage. Purther, if
mortgage given by a purchaser from the insured, or only so long as the requested by any authorized representative of the Company , the insured
insured shall have liabil�ty by reason of covenants of warranty made by the claimant shall grant its perm�ss�on, in writing, for any authorized
insured in any transfer or conveyance of the estate or interesL This policy representative of the Company fo examine , inspect and copy all records,
shall not continue in force in favor of any purchaser from the insured of books, ledgers, checks, correspondence and memoranda in the custody or
either (i) an estate or interest in the land, or (ii) an indebtedness secured by control of a third party, which reasonably pertain to the loss or damage.
a purchase money mortgage given to the insured. All information des�gnated as confidential by the insured ciaimant provided
to the Company pursuant to this Section shall not be disclosed to others
3. NOTICE OF CLAIM TO BE GIVEN BY INSURED CLAIMANT. unless, in the reasonable judgement of the Company, it is necessary in the
The insured shall notif the Com an rom tl m writin administration of the claim. Failure of the insured claimant to submit for
y p y p p y' g(i) in case of examination under oath, produce other reasonably requested information
any litigation as set forth in Section 4(a) below, (ii) in case knowledge shall or grant permission to secure reasonably necessary �nformation from third
come to an insured hereunder of any claim of title or interest which is parties as required in this paragraph shall terminate any ]iability of the
adverse to the title to the estate or interest, as insured, and which might Company under this policy as to that claim.
cause loss or damage for which the Company may be liable by virtue of
this policy, or (iii) if titie to the estate or interest, as insured, is rejected as 6. OPTIONS TO PAY OR OTHERWISE SETTLE CLAIMS;
unmarketable. If prompt notice shall not be given to the Company, then as TERMINATION OF LIABILITY.
to the insured all liability of the Company shall terminate with regard to In case of a claim under this policy, the Company shall have the
the matter or matters for which prompt notice is required; provided, following options:
however, that failure to notify the Company shall in no case prejudice the
rights of any insured under this policy unless the Company shall be (a)To Pay or Tender Payment of the Amount of lnsurance.
pre�udiced by the failure and then only to the extent of the prejudice. To pay or tender payment of the amount of insurance under
this policy together with any costs, attorneys' fees and expenses incurred by
4. D�FENSE AND PROSECUTION OF ACTIONS; DUTY OF the msured claimant, which were authorized by the Company, up to the
INSURED CLAIMAI�lT � a COOPERATE. time of payment or tender of payment and which the Company is obligated
to pay.
(a) Upon written request by the insured and subject to the options Upon the exercise by the Company of this option, all liability and
contained m Section 6 of these Conditions and Stipulations, the Company, obligations to the insured under this policy, other than to make the
at its owri cost and without unreasonable delay, shall provide for the payment required, shall terminate, including any liability or obligation to
defense of an insured in fitigation in which any third party asserts a claim defend, prosecute, or continue any litigation, and the policy shall be
adverse to the title or interest as insured, but only as to those stated causes surrendered to the Company for cancellat�on.
of action alleging a defect, lien or encumbrance or other matter insured (b) To Pay or Otherwise Settle With Parties Other than the Insured or
against by this policy. The Company shall have the right to select counsel Witfi the Insured Claimant.
of its cho�ce (subject [o the right of the insured to object for reasonable (i) to pay or otherwise settle with other parties for or in the name
cause) to represent the insured as to those stated causes of action and shall of an insured claimant any claim insured against under this policy, together
not be liable for and will not pay the fees of any other counsel. The with any costs, attorneys' fees and expenses incurred by the insured
Company will not pay any fees, costs or expenses incurred by the insured claimant which were authorized by the Company up to time of payment
in the defense of those causes of action which allege matters not insured and which the Company is obiigated to pay; or
against by this policy. (ii) to pay or otherwise settle with the insured claimant the loss or
damage provided for under this policy, together with any costs, attorneys'
(b) The Company shall have the right, at its own cost, to institute and fees and expenses incurred by the insured ciaimant which were authorized
prosecute any action or proceeding or to do any other act which in its by the Company up to the iime oE payment and which the Company is
opinion may be necessary or desirable to establish the title to the estate or obligated to pay.
interest, as msured, or to prevent or reduce loss or damage to the insured. Upon the exercise by the Company of either of the options provided for
The Company may take any appropriate action under the terms of this in paragraphs (b)(i) or (ii), the Company's obligations to the insured under
policy, whether or not it shall be liable hereunder, and shall not thereby this policy for the claimed loss or damage, other than the payments
concede liability or waive any provision of this policy. If the Company required to be made, shall terminate, including any liability or obligation to
shall exercise its rights under this paragraph, it shall do so diligently. defend, prosecute or continue any litigation.
Condi6ons and Stipulallons Con6nued Inside Cover
B 1190-2 ' •
COMMONWEALTH 1�4ND TITLE INSURANCE COMPANY
OWNERS POLICY
SCHEDULE A
Policy No.: A02-032505 Effective Date: May 5, 1995 at 3:55 PM
File Number: 13153.1
Amount of Insurance: $730, 000. 00
1. Name of Insured VILLAGE OF TEQUESTA, a Florida municipal corporation
2. The estate or interest in the land described herein and which is covered by this policy
is a fee simple (if other, specify same) and is at the effective date hereof vested in
the named insured as shown by instrument recorded in Official Record Book 873 5, page
1835, of the Public Records of Palm Beach County, Florida.
3. The land referred to in this policy is described as follows:
SEE EXAIBIT "A" ATTACHED HERETO AND MADE A PART HEREOF
JONES, FOSTER, JOHNSTON & STUBBS, P.A.
,
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�� _ '
Countersigned• b :
Authorized Officer or Agent `
COMMONWEALTH LAND TITLE iNSURANCE COMPANY
OWNERS POLICY
EXHtBIT "A"
File Number: 13153.1
Policy xo.: A02-032505
A parcel of land lying in Section 30, Township 40 South, Range 43 East, Palm Beach
County, Florida being more particularly described as follows: _
Commencing from the Northwest corner of the Southwest One Quarter (SW1/4) of said
Section 30, bear North 89 degrees 49 minutes 04 seconds East, along the North line of
said Southwest One Quarter (SWlf4), a distance of 953.24 feet to the intersection with �
the East right-of-way line of Old Dixie Highway, an 80 foot right-of-way as now laid
out and in use; thence bear South 22 degrees 41 minutes 51 seconds East, along said
East right-of-way line, a distance of 421.37 feet ta the point of beginning; thence
continue South 22 degrees 41 minutes 51 seconds East, along said right-of-way line, a
distance of 175.00 feet; thence bear North 67 degrees 18 minutes 09 seconds East, a
distance of 266.00 feet; thence bear North 22 degrees 41 minutes 51 seconds West,
along a line parallel to the said East right-of-way line of Old Dixie Highway, a
distance of 175.00 feet; thence bear South 67 degrees 18 minutes 09 seconds West, a
distance of 266.00 feet to the Point of Beginning.
COMMONWEALTH LAND TITLE 1NSURANCE COMPANY
OWNERS POLICY
SCHED�TLE B
File Number: 13153.1
Policy No.: A02-032505
This Policy does not insure against loss or damage by reason of the following
exceptions:
1. Taxes for the year of the effective date of this policy and taxes or
assessments which are not shown as existing liens by the public records
or which may be levied or assessed subsequent to the date hereof. Said
taxes become a lien as of January 1 of each year, but are not due and
payable until November 1 of that same year, pursuant to Section 197.333
F.S.
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3. Encroachments, overlaps, boundary line disputes, and any other matters
which would be disclosed by an accurate survey and inspection of the
premises.
4. Easements or claims of easements not shown by the publ.ic records.
5. Any lien, or right to a lien, for services, labor, or material
heretofore or hereafter furnished, imposed by law and not shown by the
public records.
6. Any claim that any part of said land is owned by the State of Florida by
right of sovereignty, and riparian rights, if any.
7. Easement in favor of American Telephone and Telegraph Company contained
in instrument dated April 9, 1947, and recorded May 16, 1947, in Deed
Book 809, Page 485 and Certificate recorded in Deed Book 1052, Page 293.
8. Easement in favor of Florida Power and Light Company contained�in
Easement dated June 26, 1984 and recorded July 17, 1984, in Official
Record Book 4297, Page 994.
NOTE: ALL OF THE RECORDING INFORMATION CONTAINED HEREIN REFERS TO THE PIIBLIC
RECORDS OF PALM BEACH COUNTY, FLORIDA, UNLESS OTHERWISS INDICATED.
PSH\13153-1\CLTIC.OPM
CONDITIONS AND STIPULATIONS
° 7: UETERIIAINATION AND EXTENT O� LfABItITY. (Continued) ^ � w
The Company shall be subrogated to and be entitled to all rights and
This policy is a contract of indemnity against actual monetary loss or remedies which the insured claimant would have had against any person
damage sustained or incurred by the insured claimant who has suffered or property in respect to the claim had this policy not been issued. lf
loss or damage by reason of matters insured against by this policy and requested by the Company, the insured claimant shall transfer to the
only to the extent herein described. Company all rights and remedies against any person or property neces-
(a) The liability of the Company under this policy shall not exceed the sary in order to perfect this right of subrogation. The insured claimant
least of: shall permit the Company to sue, compromise or settle in the name of the
(i) the Amount of Tnsurance stated in Schedule A; or, insured claimant and to use the name of the insured claimant in any
i� the difference between the value of the insured estate or transaction or litigation involving these rights or remedies.
���)
interest as insured and the value of the insured estate or interest subject If a payment on account of a claim does not fully cover the loss of the
to the defect, lien or encumbrance insured against by this policy. �nsured claimant, the Company shall be subrogated to these rights and
(b) The Company will pay only those costs, attorneys' fees and remedies in the proportion which the Company's payment bears to the
expenses incurred in accordance with Section 4 of these Conditions and `%�hole amount of the loss.
Stipulations. If loss should result from any act of the insured claimant, as stated
above, that act shall not void this policy, bnt the Company, in that ever.t,
8. APPORTIONMENT. shall be required to pay only that part of any losses insured against by this
If the land described in S.chedule A consists of two or more parcels policy which shall exceed the amount, if any, lost to the Company by
which are not used as a single site, and a loss is established affecting one reason of the impairment by the insured claimant of the Company's right
or more of the parcels but not all, the loss shall be computed and settled of subrogation.
on a pro rata basis as if the amount of insurance under this policy was (b) The Company's Rights Against Non-insured Obligors.
divided pro rata as to the value on Date of Policy of each separate parcel The Company's right of subrogation against non-insured obligors
to the whole, exclusive of any improvements made subsequent to Date of shall exist and shall include, without limitation, the rights of the insured
Policy, unless a liability or value has otherwise been agreed upon as to to indemnities, guaranties, other policies of insurance or bonds, notwith-
each parcel by the Company and the insured at the time of the issuance standing any terms or conditions contained in those instruments which
of this policy and shown by an express statement or by an endorsement provide for subrogation rights by reason of this policy.
attached to this policy.
9. LIMITATION OF LIABiLITY. 14. AR617RATION.
(a) If the Company establishes the title, or removes the alleged defect, Unless prohibited by applicable law, arbitration pursuant to the Title
lien or encumbrance, or cures the lack of a right of access to or from the Insurance Arbitration Rules of the American Arbitration Association
land, or cures the claim of unmarketability of title, all as insured, in a may be demanded if agreed to by both the Company and the insured.
reasonably diligent manner by any method, including litigation and the Arbitrable matters may include, but are not limited to, any controversy
completion of any appeals therefrom, it shall have fully performed its or claim between the Company and the insured arising out of or relating
obligations with respect to that matter and shall not be liable for any loss to this policy, any service of the Company in connection with its issuance
or damage caused thereby. or the breach of a policy provision or other obligation. Arbitration
(b) In Che event of any litigation, including litigation by the Company demand b t a��o is ade or,�athh option of the in ured�the Rules
or with the Company's consent, the Company shall have no liability for in effect at Date of Policy shall be binding upon the parties. The award
loss or damage until there has been a final determination by a court of may include attorneys' fees only if the laws of the state in which the land
competent jurisdiction, and disposition of all appeals therefrom, adverse is located permit a court to award attorneys' fees to a prevailing party.
to the title as insured. Judgment upon the award rendered by the Arbitrator(s) may be entered
(c) The Company shall not be liable for loss or damage to any insured in any court having jurisdiction thereof.
for liability voluntarily assumed by the insured in settling any claim or The law of the situs of the land shall apply to an arbiCration under the
suit without the prior written consent of the Company. •
Title Insurance Arbitration Rules.
10. REDUCTION OF INSURANCE; REDUCTION OR TERMINATION A copy of the Rules may be obtained from the Company upon request.
OF LIABILITY.
All payments under this policy, except payments made for costs, 15. LIABILITY LIMITED TO THIS POLICY; POLICY ENTIRE
attorneys' fees and expenses, shall reduce the amount of the insurance CONTRACT.
pro tanto. (a) This policy together with all endorsements, if any, attached hereto
11. LIABILITY NONCUMULATIVE by the Company is the entire policy and contract between the insured and
the Company. In interpreting any provision of this policy, this policy
It is expressly understood that the amount of insurance under this shall be construed as a whole.
policy shall be reduced by any amount the Company may pay under any �b) Any claim of loss or damage, whether or not based on negligence,
policy insuring a mortgage to which exception is taken in Schedule B or and which arises out of the status of the title to the estate or interest
to which the insured has agreed, assumed, or taken subject, or which is covered hereby or by any action asserting such claim, shall be restricted
hereafter executed by an insured and which is a charge or lien on the to this policy.
estate or interest described or refened to in Schedule A, and the amount
so paid shall be deemed a payment under this policy to the insured owner. �c) No amendment of or endorsement to this policy can be made
except by a writing endorsed hereon or attached hereto signed by either
12. PAYMENT OF LOSS. the President, a Vice President, the Secretary, an Assistant Secretary, or
(a) No payment shall be made without producing this policy for validating officer or authorized signatory of the Company.
endorsement of the payment unless the policy has been lost or destroyed, � 6. SEVERABILITY.
in which case proof of loss or destruction shall be furnished to the
satisfaction of the Company. In the event any provision of the policy is held invalid or unenforceable
(b) When liability and the extent of loss or damage has been definitely under applicable law, the policy shall be deemed not to include that
fixed in accordance with these Conditions and Stipulations, the loss or Provision and all other provisions shall remain in full force and effect.
damage shall be payable within 30 days thereafter. 17. NOTICES, WHERE SENT.
13. SUBROGATION UPON PAYMENT OR SETTLEMENT. All notices required to be given the Company and any statement in
(a) The Company's Right of Subrogation writing required to be furnished the Company shall include the number
Whenever the Company shall have settled and paid a claim under this of this policy and shall be addressed to Commonwealth Land Title
policy, all right of subrogation shall vest in the Company unaffected by Insurance Company, Eight Penn Center, Philadelphia, Pennsylvania
any act of the insuxed claimant. 19103-2198.
Inqnires re�arJing policy coverage und assistance in resolving complaints,
should be directed to the Company at (�07� 425-6121. Claims must be
ALTA Owner's PoliCy (10-1�-92) Cover Page reported in accordance with Conditions and Stipulations.
with Florida Modifications Valid Only If Face Page, Schedules A and B Are Attached
Form 1190-22 ORIGINAL