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1174-Sanford Farmer's Market - Seminole Countya4 - I I - 11-1 Florida Department of Agriculture and Consumer Services ) CHARLES H. BRONSON, Commissioner The Capitol • Tallahassee, FL 32399 -0800 www.doacs Please Respond to: Robert (Sherman) Yehl City Manager City of Sanford Post Office Box 1788 Sanford, Florida 32772 -1788 Division of ForesUy Forest Management Bureau May 29, 2007 3125 Conner Blvd. C -25 )/ Tallahassee, Fl- 32399 -1650 Telephone: (850) 48816611 Fax: (850) 921-6724 RE: Sanford Farmer's Market (5.216 acres) — Seminole County Dear Mr. Yehl: Attached is an original, fully executed Contract for Sale and Purchase with the Department of Agriculture and Consumer Services for the subject property. The deed has been executed by the Commissioner and is being held in my file until closing. The Department is ready to close this transaction whenever you are. I have not yet been contacted by your City Attorney. Please provide me with contact information and I will coordinate with him /her on the closing. If you need anything in the meantime, please don't hesitate to contact me at (850) 414 -9929. H. BRONSON M STONER OF AGRICULTURE ester III Real Property Coordinator of Forestry Enclosure cc: Alan Edwards, Deputy Director of Administration Donald Coker, Chief, Bureau of State Markets C L~U v� i JUN - 1 2007 ` %I / _W n% Florida Agriculture and Forest Products $87 Billion for Florida's Economy rj7� COPTRACT ## 0 1234 FLORIDA DEPARTMENT OF AGRICULTURE AND CONSUMER SERVICES CONTRACT FOR SALE AND PURCHASE DEPOSIT RECEIPT THIS AGREEMENT is made this 10th day of May, 2007, by and between the SELLER and the BUYER as follows: SELLER (" DACS "). ADDRESS BUYER ADDRESS TELEPHONE State of Florida Department of Agriculture and Consumer Services ( "SELLER ") Plaza Level Ten, The Capitol Tallahassee, Florida 32399 -0810 City of Sanford Florida Name(s) (as it should appear on the deed) City Hall 300 North Park Avenue Sanford Florida 32771 -1244 Home (407) 330 -5604 Work 1. AGREEMENT TO SELL The SELLER hereby agrees to sell and the BUYER hereby agrees to buy in accordance with this contract all that certain real property, together with all improvements, easements and appurtenances, legally described as: Property located in Seminole County more particularly described in attached EXHIBIT "A" of this Contract for Sale. 2. PURCHASE PRICE: BUYER hereby offers to purchase the property for Seven Hundred and Forty Thousand Dollars and no cents ( $740,000.00) which shall be paid in the form of a Certified or Cashier's check in the following manner: A. D eposit : BUYER deposits herewith Forty Thousand Dollars and no cents ( $40,000.00) in the form of a Certified or Cashier's check from a financial institution as defined by Section 655.005, Florida Statutes, and in a form acceptable to the SELLER, made payable to the Department of Agriculture, as an earnest money deposit. The entire deposit of the successful BUYER shall be applied toward the purchase price. If Buyer fails to perform under the terms of this contract, BUYER shall forfeit the DEPOSIT to the SELLER. B. Balance The balance of purchase price for the property in the amount of Seven Hundred Thousand Dollars and no cents ( $700, 000.00) be paid by Certified or Cashier's Check made payable to the Department of Agriculture at the time of closing. Any costs of sale incurred by the SELLER shall be paid by separate Certified or Cashier's Check made payable to the Department of Agriculture at the time of closing. 3. TIME OF ACCEPTANCE If the SELLER does not accept this offer, the deposit shall be returned to the BUYER and this offer shall be null and void. Notice of acceptance or rejection of this offer shall be sent to the BUYER after the SELLER'S decision. 4. CLOSING EXPENSES, AND POSSESSION This contract shall be executed following approval by the SELLER, and the deed delivered after execution by the SELLER. The SELLER will deliver possession of the Property to the BUYER at closing. The following are additional details of closing: A. Time and Place The closing will be at a time, date and location of mutual agreement between the SELLER and the BUYER within 60 days of the execution of this Agreement, unless closing date is extended, in writing, by the SELLER; B. Conveyance At closing, the SELLER will deliver to the BUYER a fully executed quitclaim deed conveying the property and any improvements in " IS WHERE IS CONDITION subject to a reservation in favor of the Department of Agriculture, without right -of -entry, of an undivided three - fourths interest in phosphate, minerals and metals and an undivided one -half interest in all petroleum pursuant to Section 270.11, Florida Statutes. The form of the Quitclaim Deed shall substantially comply with the form attached hereto as EXHIBIT "B "; and C. Expenses The BUYER shall pay all costs of closing including, but not limited to, all costs incurred through advertising and appraisal of the property, survey costs, documentary stamp tax on the deed, recording fees, abstract or title insurance fees, or attorney's fees. The SELLER may require that the closing be processed by and through a title insurance company officer or other agent, designated by the SELLER, and in that event the BUYER shall pay any costs charged by such company or agent for this closing service. If BUYER obtains a survey, nothing contained therein shall affect the purchase price or terms of this contract. 5. REAL ESTATE TAXES EASEMENTS RESTRICTIONS AND ENCUMBRANCES: The BUYER shall pay all outstanding real estate taxes. The BUYER shall take title to the property subject to any special liens or assessments, zoning and other governmental restrictions, plat restrictions and qualifications, public utility easements, restrictive covenants and all other easements, restrictions, reservations or matters of record. 6. WETLANDS Any wetlands on this property may be subject to the permitting requirements of the Department of Environmental Protection or the water management district. 7. CONDITION OF THE PROPERTY The BUYER acknowledges that he has inspected the premises and agrees to accept the property in "AS IS, WHERE IS CONDITION ". BUYER further acknowledges that he has voluntarily chosen to use all improvements, including any wells, or other conditions on the property and assumes all risk without limitation from their continued use or presence on the property. The SELLER makes no warranties or representations whatsoever as to the condition of the property, including all improvements, or the merchantability of the property, or the fitness for any particular uses or purpose. The BUYER acknowledges that the DACS has provided BUYER with the opportunity to perform an Environmental Site Assessment for the Property, Asbestos Survey and Lead - Based Paint Test for each structure on the Property ( "Premises ") containing materials ( "ACM ") and lead - based paint ( "LBP "), and a Radon Test for all habitable structures. The Buyer hereby waives and releases the Department from all claims, causes of actions and damages of any nature whatsoever, including attorney's fees and costs incurred arising from or in connection with the condition, presence and future use of any improvements or conditions on the property, and the presence of or subsequent removal of ACM, LBP and Radon Gas from the Premises. This release shall be binding upon the heirs, successors and assigns of BUYER and shall be governed by and construed in accordance with the laws of the State of Florida and shall survive closing. BUYER expressly agrees to indemnify, defend and hold harmless the SELLER from any an all claims that may arise from the continued use and presence of all improvements and conditions on the property. 8. RISK OF LOSS In the event of any substantial damage to the property in excess of $73,500.00 between the date of this agreement and the date of closing, the SELLER shall have the option of restoring the damaged Property to its condition immediately prior to the occurrence causing the damage, in which event, BUYER shall complete the transaction as originally planned. If these repairs are not completed prior to closing date, closing will be extended until such time as the repairs are completed. If the SELLER elects not to repair the damaged property, the BUYER'S sole remedy shall be the right to rescind this contract by giving written notice to the SELLER and to receive a refund of the earnest money deposit or, alternatively, to proceed to closing on the Property, as damaged, without 2 adjustment in the purchase price. In the event of any lesser damage, the parties shall proceed to closing as though no damage has occurred. 9. DEFAULT If the BUYER fails to perform any covenants of this agreement, the earnest money deposit may be retained by the SELLER without waiving any action for damages resulting from BUYER'S default. Alternatively, the SELLER may seek specific performance of the terms and conditions herein. If the SELLER fails to perform any covenants of this contract, the deposit shall be returned to BUYER as BUYER'S sole remedy. In that event, all parties shall be released of their rights and obligations under this contract. In connection with any dispute arising out of this contract, including, without limitation, litigation and appeals, the prevailing party shall be entitled to recover reasonable attorney's fees and costs. 10. SUCCESSORS Upon execution of this contract by the BUYER, this contract shall be binding upon and inure to the benefit of the BUYER, its heirs, successors or assigns. 11. RECORDING Neither this contract nor any notice of it may be recorded in any county by any person. 12. ASSIGNMENT The BUYER shall not assign this contract without the prior written consent of the Director of the Division of Administration. 13. TIME OF ESSENCE Time is of the essence in the performance of this contract. 14. AMENDMENTS This contract contains the entire agreement and all representations of the parties. No amendment will be effective except when reduced to writing and signed by all parties. 15. SURVIVAL The covenants of this contract shall survive delivery and recording of deed and possession of the property. 16. SELLER ACCEPTANCE This contract shall not bind the SELLER or the State Of Florida in any manner unless or until it is approved by the SELLER and legally executed. IN WITNESS WHEREOF, the parties have caused this Contract for Sale to be executed on the day and year first above written. BUYER Witness as to BUYER Print Name r� I 6,1,V Witness as to BUYER M//Zz /:L Print Name CITY OF SANFORD, FLORIDA Robert Yehl, L Manager Attes zs • ���� 7 1u /0 7 Date signed by BUYER Buyer's FEI D No. 5q " 6 0©0 z lz S (SEAL) SELLER Witness as to SELLER Witness as to SELLER Approvj LoFopl&an gall By Date: STATE OF FLORIDA DEPARTMENT OF AGRICULTURE AND CONSUMER SERVICES CHARLES H. BRONSON, COMMISSIONER )" .0.— l i" ... L Mike Gresham, Director of Division of Administration lk 4o !i� ),2/ 7oo7 Da gned by SELLER 4 EXHIBIT "A" LEGAL DESCRIPTION OF THE PROPERTY A part of Lot 4, SUBDIVISION OF A. V. FRENCH PROPERTY, according to the plat thereof as recorded in Plat Book 7, Page 10, of the Public Records of Seminole County, Florida, being more particularly described as follows: BEGINNING at the Northwest Corner of said Lot 4, thence run N.89 ° 31'00 "E., along the North Line of said Lot 4, a distance of 357.39 feet; thence run S.01 0 03'15 "E. 510.35 feet; thence run N.89 0 30'58 "E. 50.00 feet; thence run S.01 0 03'15 "E. 200.01 feet to a point on the South Line of said Lot 4; thence run S.89 0 31'00 "W. 419.59 feet to the Southwest Corner of said Lot 4; thence run N.00 0 04'13 "W., along the West Line of said Lot 4, 380.35 feet; thence run N.89 0 31'00 "E. 185.00 feet; thence run N.00 0 04'13 "W. 210.00 feet; thence run S.89 0 31'00 "W. 185.00 feet; thence run N.00 0 04'13 "W. 120.00 feet to the Point of Beginning. EXHIBIT "B" STATE OF FLORIDA DEPARTMENT OF AGRICULTURE AND CONSUMER SERVICES QUITCLAIM DEED KNOW ALL MEN BY THESE PRESENTS: That WHEREAS, THE DEPARTMENT OF AGRICULTURE AND CONSUMER SERVICES is empowered to convey certain lands pursuant to Section 570.07(25), Florida Statutes (2002), under the terms and conditions set forth therein, all of which have been duly met; and, NOW, THEREFORE, the DEPARTMENT OF AGRICULTURE AND CONSUMER SERVICES, as "Grantor" through the undersigned COMMISSIONER OF AGRICULTURE, under authority of Section 570.07(25), Florida Statutes, for and in consideration of the sum of Ten Dollars (10.00) and other good and valuable consideration, to it in hand paid by: City of Sanford, Florida, as "GRANTEE ", whose address is: City Hall, 300 N. Park, Sanford, Florida 32771 -1244 has remised, released, and quitclaimed unto GRANTEE his successors, heirs, and assigns, forever, all the right, title, interest claim, and demand which GRANTOR may have in and to the following described lands in Seminole County, Florida, to -wit: A part of Lot 4, SUBDIVISION OF A. V. FRENCH PROPERTY, according to the plat thereof as recorded in Plat Book 7, Page 10, of the Public Records of Seminole County, Florida, being more particularly described as follows: BEGINNING at the Northwest Corner of said Lot 4, thence run N.89 0 31'00 "E., along the North Line of said Lot 4, a distance of 357.39 feet; thence run S.01 0 03'15 "E. 510.35 feet; thence run N.89 0 30'58 "E. 50.00 feet; thence run S.01 0 03'15 "E. 200.01 feet to a point on the South Line of said Lot 4; thence run S.89 0 31'00 "W. 419.59 feet to the Southwest Corner of said Lot 4; thence run N.00 ° 04'13 "W., along the West Line of said Lot 4, 380.35 feet; thence run N.89 0 31'00 "E. 185.00 feet; thence run N.00 ° 04'13 "W. 210.00 feet; thence run S.89 0 31'00 "W. 185.00 feet; thence run N.00 0 04'13 "W. 120.00 feet to the Point of Beginning. SAVING AND RESERVING unto GRANTOR and its successors, without right -of -entry, of an undivided three - fourths interest in phosphate, minerals and metals and an undivided one -half interest in all petroleum pursuant to Section 270.11, Florida Statutes. TO HAVE AND TO HOLD the above - described premises subject to outstanding easements, reservations and other interest appearing of record. 2 IN TESTIMONY Whereof, the COMMISSIONER OF AGRICULTURE has hereto subscribed his name and has caused the official seal of said DEPARTMENT OF AGRICULTURE AND CONSUMER SERVICES to be hereunto affixed in the City of Tallahassee, Florida, on this day of A.D. 20 (DEPARTMENT SEAL) CHARLES COMMIS IO Approved as to form and legality: By: Date: STATE OF FLORIDA COUNTY OF LEON /� BROW F AGRICULTURE The foregoing instrument was acknowledged before me this day of A. D. 20_. by CHARLES H. BRONSON, Commissioner of Agriculture, who is personally known to me or has produced a driver's license as identification and who did take an oath, and who acknowledged before me that he executed the foregoing instrument for the purposes therein expressed. Notary Public: Signature Name of acknowledged typed, printed or stamped My commission expires: (NOTARIAL SEAL) Instrument prepared by: Division of Forestry 3125 Conner Blvd. Tallahassee, Florida 32399 -1650 7 STATE OF FLORIDA DEPARTMENT OF AGRICULTURE AND CONSUMER SERVICES QUITCLAIM DEED KNOW ALL MEN BY THESE PRESENTS: That WHEREAS, THE DEPARTMENT OF AGRICULTURE AND CONSUMER SERVICES is empowered to convey certain lands pursuant to Section 570.07(25), Florida Statutes (2002), under the terms and conditions set forth therein, all of which have been duly met; and, NOW, THEREFORE, the DEPARTMENT OF AGRICULTURE AND CONSUMER SERVICES, as "Grantor" through the undersigned COMMISSIONER OF AGRICULTURE, under authority of Section 570.07(25), Florida Statutes, for and in consideration of the sum of Ten Dollars (10.00) and other good and valuable consideration, to it in hand paid by: CITY OF SANFORD, FLORIDA as "GRANTEE ", whose address is: City Hall 300 North Park Avenue Sanford Florida 32771 -1244 has remised, released, and quitclaimed unto GRANTEE his successors, heirs, and assigns, forever, all the right, title, interest claim, and demand which GRANTOR may have in and to the following described lands in Seminole County, Florida, to -wit: A part of Lot 4, SUBDIVISION OF A. V. FRENCH PROPERTY, according to the plat thereof as recorded in Plat Book 7, Page 10, of the Public Records of Seminole County; Florida, being more particularly described as follows: BEGINNING at the Northwest Corner of said Lot 4, thence run N.89 ° 31'00 "E., along the North Line of said Lot 4, a distance of 357.39 feet; thence run S.01 0 03'15 "E. 510.35 feet; thence run N.89 0 30'58 "E. 50.00 feet; thence run S.01 0 03'15 "E. 200.01 feet to a point on the South Line of said Lot 4; thence run S.89 0 31'00 "W. 419.59 feet to the Southwest Corner of said Lot 4; thence run N.00 ° 04'13 "W., along the West Line of said Lot 4, 380.35 feet; thence run N.89 0 31'00 "E. 185.00 feet; thence run N.00 ° 04'13 "W. 210.00 feet; thence run S.89 0 31'00 "W. 185.00 feet; thence run N.00 0 04'13 "W. 120.00 feet to the Point of Beginning. SAVING AND RESERVING unto GRANTOR and its successors, without right -of -entry, of an undivided three - fourths interest in phosphate, minerals and metals and an undivided one -half interest in all petroleum pursuant to Section 270.11, Florida Statutes. TO HAVE AND TO HOLD the above - described premises subject to outstanding easements, reservations and other interest appearing of record. .�w, IN TESTIMONY Whereof, the COMMISSIONER OF AGRICULTURE has hereto subscribed his name and has caused the official seal of said DEPARTMENT OF AGRICULTURE AND CONSUMER SERVICES to be hereunto affixed in the City of Tallahassee, Florida, on this 4�lay of A.D. 20011. (DEPARTMENT SEAL) Approved to Ifoad legali By Date: STATE OF FLORIDA COUNTY OF LEON CHARLES H. BRONSON COMMISSIONER OF AGRICULTURE The foregoing instrument was acknowledged before me this day of A.D. 20�j. by CHARLES H. BRONSON, Commissioner of Agriculture, who is personally kn wn to me or has produced a driver's license as identification and who did take an oath, and who acknowledged before me that he executed the foregoing instrument for the purposes therein expressed. zA 4 M 4) Notary Public atu i Name of Acknowledged typed, printed or stamped Instrument prepared by: Division of Forestry 3125 Conner Blvd. Tallahassee, Florida 32399 -1650 My commission expires: COQ .. �. .......... CATHY G. GIORDANO MY COMMISSION # DD 254322 %�• o EXPIRES: January 28 2008 Bmded Ttxu Notary PuNic Underwriters E 0, - ra M� a Ccrl I I 1 STENSTROM, McINTOSH, COLBERT, WHIGHAM & PARTLOW, P.A. ATTORNEYS AND COUNSELLORS AT LAW WILLIAM L. COLBERT FRANK C. WHIGHAM ROBERT K. McINTOSH JAMES J. PARTLOW' SUSAN W. STACY MINH N. HAN VERA L. JUNE MONICA W. ROTHBAUM LESLIE S. STEWART 'CERTIFIED MEDIATOR Janet R. Dougherty City Clerk City of Sanford 300 N. Park Avenue Sanford, FL 32771 Re: Purchase of Farmers Market Dear Janet: KENNETH W. McINTOSH S. KIRBY MONCRIEF SANDRA K.AMBROSE OF COUNSEL DOUGLAS STENSTROM RETIRED THOMAS E. WHIGHAM (1952-1988) HAND DELIVERY Enclosed is the original recorded Quitclaim Deed and Title Policy and Closing Statement for your records. If you have any questions, please contact us. Sincerely, STENSTROM, McINTOSH, COLBERT, WHIGHAM & PARTLOW, P.A. Mary E. Decke , A to William L. Colb Enclosure I: \Mary\Real Estate \WLC \Sanford \Farmers Market \City Clerk Itr wpd 1001 HEATHROW PARK LANE SUITE 4001 LAKE MARY, FLORIDA 32746 (407) 322 -2171 DELAND (386) 668 -1479 FAX (407) 330-2379 WWW.STENSTROM.COM July 26, 2007 SERVING CENTRAL FLORIDA — SINCE 1954 — ui ir% i i itancADU QFTTI FMFNT STATE MENT ow r-IM-02136 A. U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT SETTLEMENT STATEMENT STENSTROM, MCINMH, COLBERT. WNIGNAM. RE►SCHMANN A PARTLOW, P.A. 1001 HEATHROW PARR LANE, SUITE 4001 LAKE MARY, FL 32746 (407) 322 -2171 1. SETTLEMENT DATE: 06/19/200 HU0.1 SdMMta by WSTOMSOFT P O Box 205 M.M N J 08337 14100.$84.3003 I C. NOTE. This form is furnished to give you a sletement of actual setttenlew costs. Amounts paid to and by the settlement agent are shown• Rams maryrod {p.o.c.)" were paid outside the closing; they are shown here for informations! purposes and are not included in the totals. Q NAME AND ADDRESS OF BLIYERISI P NAME_ ADDRESS a TIN OF SELLER(81: F NAME AM+0 ADDRESS OF LENDER City of Sanford State of Florida TIN 59.2983955 300 N. Part Avenue Department of Agriculture and Consumer Son ices Sanford, FL 32771 407 S. Calhoun Street Mayo Bldg., Room SB8 Tallahassee. FL 32399 -0080 O. PROPERTY LOCATION: H. SETTLEMENT AGENT: PLACE OF SETTLEMENT: Farmers Market Stenstrom Law Firm 1001 Heathrow Park Lane French Avenue Sanford, FL 32771 Suite 4001 Lake Mary, FL 32746 200. AMOUNTS PAID BY OR IN BEHALF OF BUYER 201. Deposit or earnest money 40,000. 202. Principal amount of new loan(s) $40,000. 203. Existing loan(s) taken subject to $709,123. 204. 205. 206. 207. 208. 209. Adjusonenis jor items unpaid by seller 210. Cityfrown taxes 211. County taxes 212. Assessments 213. 214. 215. 216. 217. 218. 219. 220. TOTAL PAID BYIFOR BUYER $40,000. 300. CASH AT SETTLEMENT FROM/TO BUYER 301. Gross amt due from buyer (line 120) 5749,121 302. Less amts paid by/for buyer pine 220) $40,000. 303. CASH FROM BUYER $709,123. B. TYPE OF LOAN 1. _ FHA 2. _ FmHA 3. ,_ CONV. UNINS. 4. VA 5. _ CONV. INS. 6. FILE NUMBER I T. LOAN NUMBER 500. REDUCTIONS IN AMOUNT DUE TO SELLER 501. Excess deposit (see instructions) 40,000.00 502. Settlement charges to seller (In 1400) 0.00 503. Existing loan(s) taken subject to $700.000.00 504. Payoff first mortgage loan 505. Payoff second mortgage loan 506. 507. 508. 509. Adjustments for items unpaid by seper 510. City/Town taxes 511. County taxes 512. Assessments 513. 514. 515, 516. 517. 518. 519. 520. TOTAL REDUCTION AMT DUE SELLER $40,000.00 600. CASH AT SETTLEMENT TO /FROM SELLER 601. Gross amt due to seller (line 420) $740,000.00 602. Less reduction in amt due seller (line 520) $40,000.00 603. CASH TO SELLER $700.000.00 SUBSTITUTE FORM 1099 SELLER STATEMENT TM 44orniaben ow ained In OW M E. 0. H and 1 and on I= 401 tor. 4 hens 4010 aeienaked. We 403 and 404) n WOMMnt tax Yponra ion and re being bull~ 10 014 internal Revenue Service r you are MWW to We anaMerl a noo9tr n penalty or other "now will be egos dal you rthe /lam is reouired to be rapMid andM a AMtMIwnotbeenrporMd M Bia real avale is your prinepel residence. No form 2119. Sall ar ErEbarrpe M Pri "l Resldehee. for em y gain. eW yow i cowe talc Mum: Ar Odin tr the appiscoW Pals of Farm 4TIP. Fan 6252 NOW SdrAAa 0 (11048) You an npurW to provide M Seatev-4 Apure (nwned above) won your eoned foxpeyar leanifeiben net P. A" ar $aalemere A6Mn'MMI your eMad tbNyK ider114rJte- Mgr. 7- may be fted b eW4 ta,rrl er mel P-01M a nnPOaed by I- urger P. ull 6 M periun. I carry = on ". Is my COrrKt taxpayer 4 ralacaapn MMm Sane FI M Agra AM,re and Corsnner Services s OCTT CMCWT f 41ARdSF-Q TOTAL SALES/BROKER'S COMMISSION based Division of commission on Drice $ 740 0 % = line 700 as follows: PAID FROM BUYER'S FUNDS AT SETTLEMENT PAID FROM SELLER'S FUNDS AT SETTLEMENT 701. $ to 702. $ to 703. Commission paid at settlement 704. 800. ITEMS PAYABLE IN CONNECTION WITH LOAN 801. Loan Oftination Fee % 802. Loan Discount % 803. Appraisal Fee to 804. Credit Report to 805. Lenders inspection Fee to 806. Mortgage Ins. Application Fee to 807. Assumption Fee to 808. 809. 810. 811. 812. 813. 900. ITEMS REQUIRED BY LENDER TO BE PAID IN ADVANCE 901. Interest from to 902. Mortgage Insurance Premium for months to 903. Hazard Insurance Premium for months to 904. 905. 1000. RESERVES DEPOSITED WITH LENDER 1001. Hazard Insurance months Q $ per month 1002. Mod~ insurance months 0 $ per month 1003. City P Taxes months $ per month 1004. County Property Taxes months @ $ per month 1005. Annual Assessments months @ $ per month 1006. months $ per month 1007. montlts $ per month 1008. months 4D $ per month 1009. 1100. TITLE CHARGES 1101. Settlement or Closing Fee to 1102. Abstract or Title Search to Attorneys' Title insurance Fund 150.00 1103. Title Examination to Stenstrom Law Firm 1104. Title Insurance Binder to 1105. Document Preparation to 1106. Notary Fees to 1107. Attorneys Fees to r eludes above item numbers: 1108. Title insurance to Attome ' Title Insurance Fund 3,775.00 includes above item numbers: 1109. Lender's Covers $ 1110. Owner's Coverage $ 740,000.00 1111. 1112. 1113, 1200. GOVERNMENT RECORDING AND TRANSFER CHARGES 1201. Recording Fees: Deed $18.50 ; Mortgage $ ; Release $ 18.50 1202. City/County Tax/Stamps: Deed $ 5,180.00 ; Mortgage $ 5,180.00 1203. State Tax/Stamps: Deed $ ; Mortgage $ 1204. 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, Section J an 2, Section K 9,123.50 CERTIFICATI 1 trove waccount sf�My rMi ed the U 1 Ste tipt�nn t of cry knowkdpe end receipts is a true and accurate statement of all re and disbursements made on my a afro . A i t Oeived a copy of the Fat Mt Statemen e al Santoro Ste 4 ritls DepaMnenl of Agrlaehse and Consurnnr services TO Mre best W myJcntowled0e, the HUD-1 Settlement Statement wltich 1 have prepared Is a true and accurate of this transaction.) have caused Or will cause the lunch 10 be dis xnW in ace W Mr this statemen settlement Apam / , �� 06/19/200 Stenatrom taw WARNING: It is a urine b k ke false statements to the United States on this or" atier similar form Penalties upon conviction can includes fine and wwwomrent For dstais see: Title 1a U.S. Code action 1001 and Seaton 1010. utln_4 I IIdIFnRM SF_TTLFMF-NT STATEMENT ome No. z -0m A. U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT a. TYPE OF LOAN 101. Contract Sales Price SETTLEMENT STATEMENT 1. _ FHA 2. _ 3. _ COW UNINS. 103. Settlement Charges to Borrower (line 1400) 4. VA 5. CONI _ CONV. INS. STEIVSTROM, McINTOSM, COLBERT. WHIGHAM. 105. 206. Adjustments for items paid by seller in advance REISCMMANN & PARTLOW, P.A. 6. FILE NUMBER 107. County taxes 7. LOAN NUMBER 1001 HEATHROW PARR LANE, SUITE 4001 0-56 ,460 109. 210. City/Town taxes LAKE MARY, FL 32746 211. County taxes 111. (407) 322 -2171 a MORTGAGE INSURANCE SE N UMBER HUD-1 Soewn by VATOMSOFT, P.O. Boa 205. 168wpa, N . 06=. 1400.784.3003 I $749,123. C. NOTE. This form is rwnished to give you a statement of actual settlement costs. Amounts paid to and by the settlement agent are shown. !toms marked '(p.o.c.)" were paid outside the cbsing: they are shown here for fikxmational purposes and ere not Jnduded In 0M totals. Q NAME AND ADDRESS OF BUYER991 E. MM- ADDREN S TIN OF SELLER(Sk f NAME AND ADDRUS OF LENDER City of Sanford State of Florida TIN 59- 2883965 219. 300 N. Park Avenue Department of Agriculture and Consumer San ices Sanford, FL 32771 407 S. Calhoun Street 600. CASH AT SETTLEMENT TOIFROM SELLER 601. Gross amt due to seller (line 420) Mayo Bldg., Room SB8 602. Less reduction in amt due seller (line 520) $40,000.00 Tallahassee. FL 32399.0080 5700,000.00 0 PROPERTY LOCATION: Farmers Market H. SETTLEMENT AGENT: Stenstrom Law Firm PLACE OF SETTLEMENT: 1001 Heathrow Park Lane French Avenue Suite 4001 1. SETTLEMENT DATE: Sanford, FL 32771 Lake Mary, FL 32746 06/19/200 J. SUMMARY OF BUYER'S TRANSACTIONS 100. GROSS AMOUNT DUE FROM BUYER 101. Contract Sales Price 740,000. 102. Personal Property 203. Existing loan(s) taken subject to 103. Settlement Charges to Borrower (line 1400) 9,123.5 104. 205. 105. 206. Adjustments for items paid by seller in advance 106. Cityfrown taxes 107. County taxes 108. 109. 210. City/Town taxes 110. 211. County taxes 111. 212. Assessments 112. 213. 120. AMOUNT DUE FROM BUYER I $749,123. 200. AMOUNTS PAID BY OR IN BEHALF OF BUYER 201. Deposit or earnest money 40,000. 202. Principal amount of new loan(s) $40,000. 203. Existing loan(s) taken subject to $709,123. 204. 205. 206. 207. 208. 209. Adjustments for Items unpaid by seller 210. City/Town taxes 211. County taxes 212. Assessments 213. 214. 215. 216. 217. 218. 219. 220. TOTAL PAID BY/FOR BUYER $10,000. 300. CASH AT SETTLEMENT FROMITO BUYER 301. Gross and due from buyer (fine 120) 5749,121 302. Less amts paid byRw buyer (line 220) $40,000. 303. CASH FROM BUYER $709,123. The amulim baawnad n Notlu E. 0. H and I aid on hrm 4O1 Ia, 4 We 401 a azler+.�4 h 4 3 R �j h M tt0 rapa0d R W a NLM ■ napbpre penity m olhr aarmban web be a v*wd m you 9Ita d w a roM*W le m eq FWAD l mgid E . BN ram 2119. S" a E.d,apa M PrinepN Ra idwm. for any dart, woh your wcwm pa Wu SdOd" D 004M Yw an nwi l lo pond* 0a SaBRmaa Apart (na,ad abaro) wRr 9wr canna iaxp%W kart k rditW n Mara. yau,nay be K*Pd b chw w 0-0 panablaa npoaaa by law UnM Wait*$ or pwjury. 1 e K. SUMMARY OF SELLER'S TRANSACTIONS 400. GROSS AMOUNT DUE TO SELLER 401. Contract Sales Price 740.000.00 402. Personal Property 403. 404. 405. Adjustments for Berns paid by seller in advance 406. City /Town taxes 407. County taxes 408. 409. 410. 411. 412. 420. AMOUNT DUE TO SELLER $740,000.00 500. REDUCTIONS IN AMOUNT DUE TO SELLER 501. Excess deposit (see Instructions) 40.000.00 502. Settlement charges to seller (In 1400) 0.00 503. Existing loans) taken subject to 504. Payoff first mortgage loan 505. Payoff second mortgage loan 506. 507. 508. 509. Adjustments for items unpaid by seller 510. CityfTown taxes 511. County taxes 512. Assessments 513. 514. 515. 516. 517. 518. 519. 520. TOTAL REDUCTION AMT DUE SELLER $40,000.00 600. CASH AT SETTLEMENT TOIFROM SELLER 601. Gross amt due to seller (line 420) $740,000.00 602. Less reduction in amt due seller (line 520) $40,000.00 603. CASH TO SELLER 5700,000.00 aid 4 W ft %ofts ad R da awr,tal RavanR Sanoa. 8 yw m +wyi 1Mt d hat net bean nparNA. S aria nai aaaR s yea F. daWMa Wo 000cobi. PW NFmm 4107. F"6252 aMhr 1 OCT CUr-UT r'4tAR[:FS TOTAL SALESIBROKER'S COMMISSION based Division of commission on price $ 740 00000 % = line 700 as fotlows: PAID FROM BUYER'S FUNDS AT SETTLEMENT PAID FROM SELLER'S FUNDS AT SETTLEMENT 701. $ to 702 $ to 703. Commission paid at settlement 704. 800. ITEMS PAYABLE IN CONNECTION WITH LOAN 801. Loan Origination Fee % 802. Loan Discount % 803. Appraisal Fee to 804. Credit Report to 805. Lenders Inspection Fee to 806. MorWp Ins. Appumbon Fee to 807. Assumption Fee to 808. 809. 810. 811. 812. 813. 900. ITEMS REQUIRED BY LENDER TO BE PAID IN ADVANCE 901. Interest from to Cp 902. Mortgage Insurance Premium for months to 903. Hazard Insurance Premium for months to 904. 905. 1000. RESERVES DEPOSITED WITH LENDER 1001. Hazard Insurance months Q $ per month 1002. MorWW Insurence months 0 $ per month 1003. City P Taxes months 6 $ per month 1004. Courft Property Taxes months 9p $ per month 1005. Annual Assessments months 0 $ per month 1006. months @ $ per month 1007. months Q $ per month 1008. months @ $ per month 1009. 1100. TITLE CHARGES 1101. Settlement or Closing Fee to 1102. Abstract or Title Search to Attorneys! Title Insurance Fund 150.00 1103. Title Examination to Stenstrom Law Firm 1104. Title Insurance Binder to 1105. Document Preparation to 1106. Notary Fees to 1107. Attorneys Fees to incpides above item numbers: 1108. Title Insurance to AttorneW Title Insurance Fund 3,775.00 includes above item numbers: 1109. Lender's Carers $ 1110. Owners Coverage $ 740,000.00 1111. 1112. 1113. 1200. GOVERNMENT RECORDING AND TRANSFER CHARGES 1201. R Fees: Deed $18.50 ; Mortgage $ : Release $ 18.50 1202. Tax/Stam ps: Deed $ 5,180.00 ; Mort a e $ 5,180.00 1203. Stale Tax/Stamps: Deed $ : mortgage $ 1204. 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, Section J angp02, Section K 9,123.50 CERTIFICAT 1 have carahMy revi d fire U t ma let otJrr t of my krw4ft pe anti is a true and wwrate statement of all nxeipls and diebraedneMa made on my aoaourd i W i t ceived 8 coPY Of HIl tent Statement/ e of Sanford to f rwa Department of AgnpaMS and Cor wr er SWvMg To tiro boat of my . the WMA Settlement Slatertwnt whiM I have prepared is a trus and saurate of Oda transaction.) have aused or wa ram Vw Raids to be dWxnW in with ass aubme Settlement Agent T Date 06/19/200 SMrratrem uw WARMING: It is a txtrrs to false statements to the United Slates on this a any other similar form. Penalties upon conviction Can ncluda • fine and'mprisonnent For details see. Title 16 U.S. Code 1001 and Section 10110. IIIN11 Hill N11M11111HUINNIN1u mill Ile onIlal A STATE OF FLORIDA DEPARTMENT OF AGRICULTURE AND CONSUMER SERVICES QUITCLAIM DEED KNOW ALL MEN BY THESE PRESENTS: That WHEREAS, THE DEPARTMENT OF AGRICULTURE AND CONSUMER SERVICES is empowered to convey certain lands pursuant to Section 570.07(25), Florida Statutes (2002), under the terms and conditions set forth therein, all of which have been duly met; and, MARYANNE MURS$_ CLERK W CIRCUIT COURT SEMINOLE COUNTY E)1( 06731 Pqs 1908 - 19091 (c^pgs) CLERK'S * 2007090346 RE WEMfffMff $Kffiff P#E DEED DOC TAX 5 RECORDING FEES 18.50 RECORDED BY L McKinley NOW, THEREFORE, the DEPARTMENT OF AGRICULTURE AND CONSUMER SERVICES, as "Grantor" through the undersigned COMMISSIONER OF AGRICULTURE, under authority of Section 570.07(25), Florida Statutes, for and in consideration of the sum of Ten Dollars (10.00) and other good and valuable consideration, to it in hand paid by: CITY OF SANFORD, FLORIDA as "GRANTEE ", whose address is: City Hall, 300 North Park Avenue, Sanford, Florida 32771 -1244 has remised, released, and quitclaimed unto GRANTEE his successors, heirs, and assigns, forever, all the right, title, interest claim, and demand which GRANTOR may have in and to the following described lands in Seminole County, Florida, to -wit: 1 A part of Lot 4, SUBDIVISION OF A. V. FRENCH PROPERTY, according to the plat thereof as recorded in Plat Book 7, Page 10, of the Public Records of Seminole County; Florida, being more particularly described as follows: BEGINNING at the Northwest Comer of said Lot 4, thence run N.89 0 31'00 "E., along the North Line of said Lot 4, a distance of 357.39 feet; thence run S.01 0 03'15 "E. 510.35 feet; thence run N.89 0 30'58 "E. 50.00 feet; thence run S.01 0 03'15 "E. 200.01 feet to a point on the South Line of said Lot 4; thence run S.89 0 31'00 "W. 419.59 feet to the Southwest Comer of said Lot 4; thence run N.00 0 04'13 "W., along the West Line of said Lot 4, 380.35 feet; thence run N.89 0 31'00 "E. 185.00 feet; thence run N.00 ° 04'13"W. 210.00 feet; thence run S.89 185.00 feet; thence run N.00 120.00 feet to the Point of Beginning. SAVING AND RESERVING unto GRANTOR and its successors, without right -of -entry, of an undivided three - fourths interest in phosphate, minerals and metals and an undivided one -half interest in all petroleum pursuant to Section 270.11, Florida Statutes. TO HAVE AND TO HOLD the above - described premises subject to outstanding easements, reservations and other interest appearing of record. IN TESTIMONY Whereof, the COMMISSIONER OF AGRICULTURE has hereto subscribed his name and has caused the official seal of said DEPARTMENT OF AGRICULTURE AND CONSUMER SERVICES to be hereunto affixed in the City of Tallahassee, Florida, on this, lay of A.D. 200 (DEPARTMENT SEAL) Approved kfi egalByD ate: STATE OF FLORIDA COUNTY OF LEON ) Z/A CHARLES H. BRONSON COMMISSIONER OF AGRICULTURE The foregoing instrument was acknowledged before me this ae -L- day of r l'� A.D. 20_dl. by CHARLES H. BRONSON, Commissioner of Agriculture, who is personally kno wn to me or has produced a driver's license as identification and who did take an oath, and who acknowledged before me that he executed the foregoing instrument for the purposes therein expressed. Instrument prepared by: Division of Forestry 3125 Conner Blvd. Tallahassee, Florida 32399 -1650 I F, Notary .. Alzywx'wo : Og F_ _ . - . =e- My commission expires: a0 0 Al -ZEAL CATHY Q. GIORDANO MY COMMISSION t DD 254322 EXPIRESuary 28,2008 4.0" Banded nru Notary Pubk Und®rwrbm (American Land Title Association Owner's Policy - 10- 17 -92) (With Florida Modifications) OWNER'S TITLE INSURANCE POLICY Attorneys' Title Insurance Fund, Inc. ORLANDO, FLORIDA SUBJECT TO THE EXCLUSIONS FROM COVERAGE, THE EXCEPTIONS FROM COVERAGE CONTAINED IN SCHEDULE B AND THE CONDITIONS AND STIPU- LATIONS, ATTORNEYS' TITLE INSURANCE FUND, INC., a Florida corporation, herein called The Fund, insures, as of Date of Policy shown in Schedule A, against loss or damage, not exceeding the Amount of Insurance stated in Schedule A, sustained or incurred by the insured by reason of: 1. Title to the estate or interest described in Schedule A being vested other than as stated therein; 2. Any defect in or lien or encumbrance on the title; 3. Unmarketability of the title; 4. Lack of a right of access to and from the land. The Fund will also pay the costs, attorneys' fees and expenses incurred in defense of the title, as insured, but only to the extent provided in the Conditions and Stipulations. In Witness Whereof, ATTORNEYS' TITLE INSURANCE FUND, INC. has caused this policy to be signed and sealed as of Date of Policy shown in Schedule A, the policy to become valid when countersigned by an authorized signatory. Attorneys' Title Insurance Fund, Inc. .r•"""ws "w BY % . ..SERI~ 6w . .N Charles J. Kovaleski President SERIAL OPM- 7230600 FUND FORM OPM (rev. 3/98) File Number: C- 56,640 DoubleTimes EXCLUSIONS FROM COVERAGE The following matters are expressly excluded from the coverage of this policy and The Fund will not pay loss or damage, costs, attorneys' fees or expenses which arise by reason of: 1. (a) Any law, ordinance or governmental regulation (including but not limited to building and zoning laws, ordinances, or regulations) restricting, regulating, prohibiting or relating to (i) the occupancy, use, or enjoyment of the land; (ii) the character, dimensions or location of any improvement now or hereafter erected on the land; (iii) a separation in ownership or a change in the dimensions or area of the land or any parcel of which the land is or was a part; or (iv) environmental protection, or the effect of any violation of these laws, ordinances or governmental regulations, except to the extent that a notice of the enforcement thereof or a notice of a defect, lien or encumbrance resulting from a violation or alleged violation affecting the land has been recorded in the public records at Date of Policy. (b) Any governmental police power not excluded by (a) above, except to the extent that a notice of the exercise thereof or a notice of a defect, 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. Rights of eminent domain unless notice of the exercise thereof has been recorded in the public records at Date of Policy, but not excluding from coverage any taking which has occurred prior to Date of Policy which would be binding on the rights of a purchaser for value without knowledge. 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 Fund, not recorded in the public records at Date of Policy, but known to the insured claimant and not disclosed in writing to The Fund 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 which would not have been sustained if the insured claimant had paid value for the estate or interest insured by this policy. 4. Any claim, which arises out of the transaction vesting in the insured the estate or interest insured by this policy, by reason of the operation of federal bankruptcy, state insolvency, or similar creditors' rights laws, that is based on: (a) the transaction creating the estate or interest insured by this policy being deemed a fraudulent conveyance or fraudulent transfer; or (b) the transaction creating the estate or interest insured by this policy being deemed a preferential transfer except where the preferential transfer results from the failure: (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 creditor. CONDITIONS AND STIPULATIONS 1. Definition of Terms The following terms when used in this policy mean: (a) "insured ": the insured named in Schedule A, and, subject to any rights or defenses The Fund would have had against the named insured, those who succeed to the interest of the named insured by operation of law as distinguished from purchase including, but not limited to, heirs, distributees, devisees, survivors, personal representatives, next of kin, or corporate or fiduciary successors (b) "insured claimant ": an insured claiming loss or damage. (c) "knowledge" or "known ": actual knowledge, not constructive knowledge or notice which may be imputed to an insured by reason of the public records as defined in this policy or any other records which impart constructive notice of matters affecting the land. (d) "land ": the land described or referred to in Schedule A, and improvements affixed thereto which by law constitute real property The term "land" does not include any property beyond the lines of the area described or referred to in Schedule A, or any right, title, interest, estate or easement in abutting streets, roads, avenues, alleys, lanes, ways or waterways, but nothing herein shall modify or limit the extent to which a right of access to and from the land is insured by this policy. (e) "mortgage ": mortgage, deed of trust, trust deed, or other security instrument (f) "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 Section l(a)(iv) of the Exclusions from Coverage, "public records" shall also include environmental protection liens filed in the records of the clerk of the United States district court for the district in which the land is located. (g) "unmarketability of the title ": an alleged or apparent matter affecting the title to the land, not excluded or excepted from coverage, which would entitle a purchaser of the estate or interest described in Schedule A to be released from the obligation to purchase by virtue of a contractual condition requiring the delivery of marketable title. 2. Continuation of Insurance After Conveyance of Title The coverage of this policy shall continue in force as of Date of Policy in favor of an insured only so long as the insured retains an estate or interest in the land, or holds an indebtedness 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 covenants of warranty made by the insured in any transfer or conveyance of the estate or interest. This policy shall not continue in force in favor of any purchaser from the insured of either (i) all estate or interest in the land, or (ii) all indebtedness 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 Fund promptly in writing (i) in case of any litigation as set forth in Section 4(a) below, (ii) in case knowledge shall come to an insured hereunder of any claim of title or interest which is adverse to the title to the estate or interest, as insured, and which might cause loss or damage for which The Fund may be liable by virtue of this policy, or (iii) if title to the estate or interest, as insured, is rejected as unmarketable. If prompt notice shall not be given to The Fund, then as to the insured all liability of The Fund shall terminate with regard to the matter or matters for which prompt notice is required; provided, however, that failure to notify The Fund shall in no case prejudice the rights of any insured under this policy unless The Fund shall be prejudiced by the failure and then only to the extent of the prejudice. 4. Defense and Prosecution of Actions; Duty of Insured Claimant To Cooperate (a) Upon written request by the insured and subject to the options contained in Section 6 of these Conditions and Stipulations, The Fund, 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 adverse to the title or interest as insured, but only as to those stated causes of action alleging a defect, lien or encumbrance or other matter insured against by this policy. The Fund 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 and shall not be liable for and will not pay the fees of any other counsel. The Fund will not pay any fees, costs or expenses incurred by the insured in the defense of those causes of action which allege matters not insured against by this policy. (b) The Fund shall have the right, at its own cost, to institute and prosecute any action or proceeding or to do any other act which in its opinion may be necessary or desirable to establish the title to the estate or interest, as insured, or to prevent or reduce loss or damage to the insured. The Fund may take any appropriate action under the terms of this policy, whether or not it shall be liable hereunder, and shall not thereby concede liability or waive any provision of this policy. If The Fund shall exercise its rights under this paragraph, it shall do so diligently. Attorneys' Title Insurance Fund, Inc. OWNER'S POLICY Schedule A Policy No.: Effective Date: Agent's File Reference: OPM- 7230600 June 19, 2007 @ 02:09 PM C- 56,640 °7 yo, oov, so Amount of Insurance: Name of Insured: City of Sanford, 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 as Document No. 2007090346 in Official Records Book 6731, Page 1908, of the Public Records of Seminole County, Florida. The land referred to in this policy is described as follows: A part of Lot 4, SUBDIVISION OF A. V. FRENCH PROPERTY, according to the map or plat thereof as recorded in Plat Book 7, Page(s) 10, Public Records of Seminole County, Florida, being more particularly described as follows: BEGINNING at the Northwest Corner of said Lot 4, thence run N89 °31'00" E along the North line of said Lot 4, a distance of 357.39 feet; thence run SO1 °03'15" E, 510.35 feet; thence run N89 0 30'58" E, 50.00 feet; thence run SO1 °03'15" E 200.01 feet to a point on the South line of said Lot 4; thence run S89 °31'00" W 419.59 feet to the Southwest Corner of said Lot 4; thence run N00 °04'13" W along the West Line of said Lot 4, 380.35 feet; thence run N89 °31'00" E 185.00 feet; thence run N00 0 04'13" W 210 feet; thence run S89 0 31'00" W 185.00 feet; thence run N00 °04'13" W 120.00 feet to the Point of Beginning Agent No.: 1487 Issuing Agent: Stenstrom, McIntosh, Colbert, Whigham & Partlow, P.A. 1001 Heathrow Park Lane Suite 4001 Lake Mary, FL 32746 Agent's Signature William L. Colbert Form OPM -SCH. A Page 1 of 2 (rev. 1198) DoubleTime® 5.0.1 Attorneys' Title Insurance Fund, Inc. OWNER'S POLICY Schedule B Policy No.: OPM- 7230600 Agent's File Reference: C- 56,640 This policy does not insure against loss or damage by reason of the following exceptions: 4-. T wi e s f the y o€the e festive ef. this peliey ar►d taxes special assessments which are of shoo n as istif ^ 2-- Rights er- elaims of paFfies in possession not shewn by the pu-lie . 3. Encroachments, overlaps, boundary line disputes, and any other matters which would be disclosed by an accurate survey and inspection of the premises. ¢ E asemen t s e F easemen n ot s he m% b the public reeer or- -5 Any4ien,- ar-FigM4e- a44err,4ef serwices,4abeF, -ef material heretofore befea€ter fumished, impesed- by4aw- and-net- 6. Any adverse ownership claim by the State of Florida by right of sovereignty to any portion of the lands insured hereunder, including submerged, filled and artificially exposed lands, and lands accreted to such lands. 7. All matters contained on the Plat of Subdivision of A.V. French Property, as recorded in Plat Book 7, Page(s) 10, Public Records of Seminole County, FL. 8. Reservations in favor of the State of Florida, as set forth in the deed from the Trustees of the Internal Improvement Fund of the State of Florida, recorded in Deed Book 83, Page 157, Public Records of Seminole County, Florida. Quit Claim Deed from City of Sanford to State Agricultural Marketing Board of Florida recorded in Deed Book 160, Page 89, Public Records of Seminole County, Florida. 9. Subject to rights of tenants under unrecorded leases, if any. Form OPM -SCH. B (rev. 5194) Page 2 of 2 DoubleTime® 5.0.1 (c) Whenever The Fund shall have brought an action or interposed a defense as required or permitted by the provisions of this policy, The Fund may pursue any litigation to final determination by a court of competent jurisdiction and expressly reserves the right, in its sole discretion, to appeal from any adverse judgment or order. (d) In all cases where this policy permits or requires The Fund to prosecute or provide for the defense of any action or proceeding, the insured shall secure to The Fund the right to so prosecute or provide defense in the action or proceeding, and all appeals therein, and permit The Fund to use, at its option, the name of the insured for this purpose. Whenever requested by The Fund, the insured, at The Fund's expense, shall give The Fund all reasonable aid (i) in any action or proceeding, securing evidence, obtaining witnesses, prosecuting or defending the action or proceeding, or effecting settlement, and (ii) in any other lawful act which in the opinion of The Fund may be necessary or desirable to establish the title to the estate or interest as insured. If The Fund is prejudiced by the failure of the insured to furnish the required cooperation, The Fund'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. 5. Proof of Loss or Damage In addition to and after the notices required under Section 3 of these Conditions and Stipulations have been provided The Fund, a proof of loss or damage signed and sworn to by the insured claimant shall be furnished to The Fund within 90 days after the insured claimant shall ascertain the facts giving rise to the loss or damage. The proof of loss or damage shall describe the defect in, or lien or encumbrance on the title, or other matter insured against by this policy which 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. If The Fund is prejudiced by the failure of the insured claimant to provide the required proof of loss or damage, The Fund'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 proof of loss or damage. In addition, the insured claimant may reasonably be required to submit to examination under oath by any authorized representative of The Fund and shall produce for examination, inspection and copying, at such reasonable times and places as may be designated by any authorized representative of The Fund, all records, books, ledgers, checks, correspondence and memoranda, whether bearing a date before or after Date of policy, which reasonably pertain to the loss or damage. Further, if requested by any authorized representative of The Fund, the insured claimant shall grant its permission, in writing, for any authorized representative of The Fund to examine, inspect and copy all records, books, ledgers, checks, correspondence and memoranda in the custody or control of a third party, which reasonably pertain to the loss or damage. All information designated as confidential by the insured claimant provided to The Fund pursuant to this Section shall not be disclosed to others unless, in the reasonable judgment of The Fund, it is necessary in the administration of the claim. Failure of the insured claimant to submit for examination under oath, produce other reasonably requested information or grant permission to secure reasonably necessary information from third parties as required in this paragraph shall terminate any liability of The Fund under this policy as to that claim. 6. Options To Pay or Otherwise Settle Claims; Termination of Liability In case of a claim under this policy, The Fund 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, which were authorized by The Fund, up to the time of payment or tender of payment and which The Fund is obligated to pay. Upon the exercise by The Fund of this option, all liability and obligations to the insured under this policy, other than to make the payment required, shall terminate, including any liability or obligation to defend, prosecute, or continue any litigation, and the policy shall be surrendered to The Fund for cancellation. (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, together with any costs, attorneys' fees and expenses incurred by the insured claimant which were authorized by The Fund up to the time of payment and which The Fund 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 which were authorized by The Fund up to the time of payment and which The Fund is obligated to pay. Upon the exercise by The Fund of either of the options provided for in paragraphs (b)(i) or (ii), The Fund's obligations to the insured under this policy for the claimed loss or damage, other than the payments required to be made, shall terminate, including any liability or obligation to defend, prosecute or continue any litigation. 7. Determination, Extent of Liability and Coinsurance 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 and only to the extent herein described. (a) The liability of The Fund under this policy shall not exceed the least of: (i) the Amount of Insurance stated in Schedule A; or, (ii) the difference between the value of the insured estate or interest as insured and the value of the insured estate or interest subject to the defect, lien or encumbrance insured against by this policy. (b) (This paragraph dealing with Coinsurance was removed from Florida policies.) (c) The Fund will pay only those costs, attorneys' fees and expenses incurred in accordance with Section 4 of these Conditions and Stipulations 8. Apportionment If the land described in Schedule A consists of two or more parcels which are not used as a single site, and a loss is established affecting one or more of the parcels but not all, the loss shall be computed and settled on a pro rata basis as if the amount of insurance under this policy was divided pro rata as to the value on Date of Policy of each separate parcel to the whole, exclusive of any improvements made subsequent to Date of Policy, unless a liability or value has otherwise been agreed upon as to each parcel by The Fund and the insured at the time of the issuance of this policy and shown by an express statement or by an endorsement attached to this policy. 9. Limitation of Liability (a) If The Fund establishes the title, or removes the alleged defect, lien or encumbrance, or cures the lack of a right of access to or from the land, or cures the claim of unmarketability of title, all as insured, in a reasonably diligent manner by any method, including litigation and the completion of any appeals therefrom, it shall have fully performed its obligations with respect to that matter and shall not be liable for any loss or damage caused thereby. (b) In the event of any litigation, including litigation by The Fund or with The Fund's consent, The Fund shall have no liability for loss or damage until there has been a final determination by a court of competent jurisdiction, and disposition of all appeals therefrom, adverse to the title as insured. (c) The Fund shall not be liable for loss or damage to any insured for liability voluntarily assumed by the insured in settling any claim or suit without the prior written consent of The Fund. 10. Reduction of Insurance; Reduction or Termination of Liability All payments under this policy, except payments made for costs, attorneys' fees and expenses, shall reduce the amount of the insurance pro tanto. 11. Liability Noncumulative It is expressly understood that the amount of insurance under this policy shall be reduced by any amount The Fund may pay 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 hereafter executed by an insured and which is a charge or lien on the estate or interest described or referred to in Schedule A, and the amount so paid shall be deemed a payment under this policy to the insured owner. 12. Payment of Loss (a) No payment shall be made without producing this policy for endorsement of the payment unless the policy has been lost or destroyed, in which case proof of loss or destruction shall be furnished to the satisfaction of The Fund. (b) When liability and the extent of loss or damage has been definitely fixed in accordance with these Conditions and Stipulations, the loss or damage shall be payable within 30 days thereafter. 13. Subrogation Upon Payment or Settlement (a) The Fund's Right of Subrogation. Whenever The Fund shall have settled and paid a claim under this policy, all right of subrogation shall vest in The Fund unaffected by any act of the insured claimant. The Fund shall be subrogated to and be entitled to all rights and remedies which the insured claimant would have had against any person or property in respect to the claim had this policy not been issued. If requested by The Fund, the insured claimant shall transfer to The Fund all rights and remedies against any person or property necessary in order to perfect this right of subrogation. The insured claimant shall permit The Fund 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 or remedies. If a payment on account of a claim does not fully cover the loss of the insured claimant, The Fund shall be subrogated to these rights and remedies in the proportion which The Fund's payment bears to the whole amount of the loss. If loss should result from any act of the insured claimant, as stated above, that act shall not void this policy, but The Fund, in that event, shall be required to pay only that part of any losses insured against by this policy which shall exceed the amount, if any, lost to The Fund by reason of the impairment by the insured claimant of The Fund's right of subrogation. (b) The Fund's Rights Against Non - insured Obligors. The Fund's right of subrogation against non - insured obligors shall exist and shall include, without limitation, the rights of the insured to indemnities, guaranties, other policies of insurance or bonds, notwithstanding any terms or conditions contained in those instruments which provide for subrogation rights by reason of this policy. r 14. Arbitration Unless prohibited by applicable law, arbitration pursuant to the Title Insurance Arbitration Rules of the American Arbitration Association may be demanded if agreed to by both The Fund and the insured Arbitrable matters may include, but are not limited to, any controversy or claim between The Fund and the insured arising out of or relating to this policy, and service of The Fund 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 Fund upon request. 15. Liability Limited to this Policy; Policy Entire Contract (a) This policy together with all endorsements, if any, attached hereto by The Fund is the entire policy and contract between the insured and The Fund. In interpreting any provision of this policy, this policy shall be construed as a whole. (b) Any claim of loss or damage, whether or not based on negligence, and which arises out of the status of the title to the estate or interest covered hereby or by any action asserting such claim, shall be restricted to this policy. (c) No amendment of or endorsement to this policy can be made except by a writing endorsed hereon or attached hereto signed by either the President, a Vice President, or Agent of The Fund. 16. Severability In the event any provision of the policy is held invalid or unenforceable under applicable law, the policy shall be deemed not to include that provision and all other provisions shall remain in full force and effect. 17. Notices, Where Sent All notices required to be given The Fund and any statement in writing required to be furnished The Fund shall include the number of this policy and shall be addressed to The Fund at its principal office at Post Office Box 628600, Orlando, Florida 32862 -8600. lv -n N O N _ p to ,N �• e chi, O 0 y 0 0 0 N rn Q. ;F 53 O o c�u � ►---1 � � � ~ CD En O O r � n o N) CD w cc rt a 0 �C 0 CD w C -�a Y rn su cc w a. O Q.., N 0 .,