972-Purchase/Sale to RolihoSTENSTROM, McINTOSH, COLBERT. WHIGHAM & SIMMONS. P.A.
Janet R. Doughery
City Clerk, City of Sanford
300 S. Park Avenue
Sanford, FL 32771
ATTORNEYS AND COUNSELLORS AT LAW
April 11, 2003
Re;
Purchase from Seminole County and
Sale to Roliho, Inc.
Dear Ms. Dougherty:
Enclosed are the following with regard to the above-referenced transaction:
2.
3.
4.
5.
Original County Deed
Copy of Warranty Deed
Original Title Insurance Commitment No. CF-0645124
Copy of closing statement for purchase from County
Copy of closing statement for sale to Roliho, Inc.
We will be issuing the Title policy within a week or two and will forward the Original Title Policy
to you at that time.
If you have any questions, please contact me.
Sincerely,
STENSTROM, McINTOSH, COLBERT,
WHIGHAM & SIMMONS, P.A.
Mary E. Decker, CLA
Lonnie N.:Groot
Enclosure
cc: John Jones
]:~vlary~Real Estate\WLC\Sanford\County to City\clerk ltr. wpd
I IIII II III I III I III II NIH III I III II III Il II I III l III I III
COUNTY DEED
COUNTY OF SEMINOLE, FLORIDA
T~IS DEED is made this // day of /~
20 ~3 , by s~OLE COUNTY, a political subdivision of the State of
Florida, whose address is seminole county services Building, 1101 East
First Street, Sanford, Florida 32771, hereinafter referred to as the
~GRANTOR," and CITY OF SANFO~D, a Florida municipal corporation, whose
address is Sanford City Hall, 300 North Park Avenue, Sanford, Florida
32771, hereinafter referred to as the ~GRANTEE".
WITNES SETH:
THAT GRANTOR for and in consideration of the sum of ONE AND NO/100
DOLLARS ($1.00) in hand paid by GRANTEE, the receipt of which is hereby
acknowledged, does hereby grant, bargain and sell to GRANTEE, its heirs
and assigns forever, the following described land lying and being in
Seminole County, Florida, along wi[h all rights to phosphate, minerals,
metals, and petroleum interests that may be in, on, or under the
described land, to-wit:
LEGAL DESCRIPTION
Lots Six (6), Seven (7), Eight (8), Nine (9), and Ten (10),
in Block iN, Tier 5 of E.R. TRAFFOi~D'S MAP OF '~'~ TOWN OF
SANFORD, according to the Plat thereof, as recorded in Plat
Book 1, at Page 56 through 64, of the Public Records of
Seminole County, Florida; and the South One-Half (1/2) of
Gabbett. Street adjacent thereof and also beginning at the
Southeast corner of said Lot Ten (10); thence run East
along the Northerly right-of-way line of Fulton Street,
14.0 feet; thence run North along the East line of a 14.0
foot Alley, 283.0 feet; thence run West 14.0 feet; thence
run South along the Easterly line and its Northerly
extension of said Lots Six (6), Seven (7), Eight (8), Nine
(9), and Ten (10), 283.0 feet to the Point of Beginning.
SUBJECT to conditions, restrictions, limitations, and
easements of record, if any, which are not reimposed
hereby; applicable zoning regulations; and taxes for the
year 1994 and subsequent years.
Property Identification ~ 25-19-30-5AG-iN05-0060
THIS INSTRUMENT PREPARED BY:
ANNE. COLBY
ASSISTANT COUNT A3TORN EY
SEMINOLE COUNTY SERVICBS BUILDING
1101 EAST FIRST STREE~
SANFORD, FLORIDA 32771
~ WI~RlSS I~.a~OF the GRANTOR has caused these presents to be
executed in its name by its Board of County Cormnissioners acting by the
Chairman or Vice-Chairman of said Board, the day and year aforesaid.
ATTES 'i-'" ~ "
s~in%~ eV~o~ty, .Florida.
Approve~~a~ ~o~ and
legal~f fi~i~cY
~t~ ~t~O ~
AC / lpk
1/22/03 2/5/~3
cd-Sanford (Mytrle Av)
BOARD OF COUNTY COMMISSIONERS
SEMINOLE COUNTY, FLORIDA
By:~K ~
DARYL G. MCLAIN, Chairman
Date: ~ -//-~
As authorized for execution by
the Board of County Cor~nissioners
at their ~ O~a~a~, 20 ~
regular meeting.
r
O
MAR-21-2003 FRI 01:25 PM STENSTROM, MCINTOSH, COLB£
FRX NO. 407 330 2379
04/07
Prepared by and return to:
LONNIE N. GReeT, ESQUIRE
P. O. Box 4848
Sanford, FL 32772-4848
PARCEL ID NUMBER; 25-19-30-5AG-IN05-0060
THIS WARRANTY DEED made the ~ i day of March, 2003, by City of Sanford,
a Florida Municipal Corporation, hereinafter called the Grantor, to ROUHO, INC., a
Florida Corporation, whose address is 160 International Parkway, Suite 250, Heathrow,
FL 32746, hereinafter called the Grantee.
WITNESSETH:
That the Grantor, for and in consideration of the sum of $10.00, and other valuable
considerations, receipt whereof is hereby acknowledged, hereby grant, bargain, sell, alien,
remtse, release, convey, and confirm unto the Grantee all that certain land situate in
Semic~ole County, Florida, viz;
Lots S~x ($), Seven (7), Eight (9), N~le (9), and Ten (10), in Block 1N, Tier 5, E, R,
TRAFFORD'S MAP OF THE TOWN OF SANFORD, according to the Plat thereof,
as race.led in Plat Book 1, at page 56 I~eugh 64, of the Public Records of
Seminole County, Florida; and the Seth O~e-Half ('/~) of Gabbett Street
adjacent thereof and also begirmtng at the Southeast corner of said Lot Ten
(10); lhence run East, along the Northerly right-of-way line of Fulton Street,
14.0 feet; thence run North alon9 the East line of a 14.0 foot Alley, 283.0
feet, lJ~mce run West 14,0 feet; thence run South along the Easterly line and
its Northerly extension, of said Lots Six (6), Seven (7), Eight (8), Nine (9), and
Ten (19), 283.0 feet to the Point of Beginning,
TOGETHER with all the tenements, hereditaments, and appurlenances thereto
belonging or in any~vise appertaining,
SUBJECT to Easements and restrictions of Record,
TO HAVE AND TO HOLD, the same in fee simple forever.
AND the Grantor hereby covenants with said Grantee that the Grantor is lawfully
seized of said land in fee simple; that the Grantor has good right and lawful authority to
sell and convey said land, and hereby warrants the title to said land and will defend the
same against the lawful claims of all persons whomsoever; and that said land is free of all
encumbrances.
MARYANNE MORSE, CLERK OF CIRCUIT COURT
CLERK OF SEMINOLE COUNTY
BK O47G7 PG t735
FILE NUN 2003056146
RECORDED 04/03/2003 11:59:15 AM
DEED DOC STAMPS 1,680.00
RECORDINGFEES 10.50
RECORDED BY J EFkenroth
IIIII III It III II III II Itl II III II I# II III II tll II III II III II IIII I
FRI 01:26 PM STENSTROM, MCINTOSH,COLBE
FAX NO, 407 330 2379
P, 05/07
IN W~NESS WHEREOF, the said Grantors have signed and sealed these presents
the ~3.y_aQ.d~ar first above written,
.; ??heals ~;~;~and deliv ered
? in the p~esen~ o~ w~tnes .
300 N. Park Avenue
Sanford, FL 32771
(Printed Name)
(P~inted name)
STATE OF FLORIDA
COUNTY OF SEMINOLE
t HEREBY CERTtFY that ~ this day, before me. an offmer duly authorized to administer
Sanfotd, a Florida Municipal Coq~3ml~n. ~o ~s per~nammy ~.nown ~u ,,.~ o,,.,
l(megoirtg i~sbumeot, who ackno~ beh3~ ~ II,at he executed same, and lhat an oath was
not taken. ' ' ,,,. day
WITNESS my I~and and Mticiel seal in l~le County an(i State last aforesatd th~s
o! Ma~e~, 2003,
Print Name:
Notary Public, State of Florida
0
'-dO
0
33.,>
(American Land Title Association Commitment -- 19E6 Rev.)
P tment Jacket ~s the ~
With and rinted on this Commi '
~tection Letter promulgated under Rule 4.186.010, F,4.C. I
COMMITMENT
AND
CLOSING PROTECTION LETTER
Attorneys' Title Insurance Fund, Inc.
ORLANDO, FLORIDA
Commitment To Insure Title
ATTORNEYS' TITLE INSURANCE FUND, INC., a Florida corporation, herein called THE FUND,
for a valuable consideration, hereby commits to issue its policy or policies of title insurance, as
identified in Schedule A, in favor of the proposed Insured named in Schedule A, as owner or
mortgagee of the estate or interest covered hereby in the land described or referred to in Schedule
A; subject to the provisions of Schedules A and B and to the Conditions and Stipulations hereof.
This Commitment shall be effective only when the identity of the proposed Insured and the
amount of the policy or policies committed for have been inserted in Schedule A hereof by THE
FUND, either at the time of the issuance of this Commitment or by subsequent endorsement.
This Commitment is preliminary to the issuance of such policy or policies of title insurance and all
liability and obligations hereunder shall cease and terminate six months after the effective date
hereof or when the policy or policies committed for shall issue, whichever first occurs, provided
that the failure to issue such policy or policies is not the fault of THE FUND.
In Witness Whereof, ATTORNEYS' TITLE INSURANCE FUND, INC. has caused this Commitment
to be signed and sealed as of the effective date of Commitment shown in Schedule A, the
Commitment to become valid when countersigned by an authorized signatory.
Attorneys' Title Insurance Fund, Inc.
Charles J. Kovaleski
President
SERIAL
CF- 0645124
FUND FORM CF (rev. 5/99)
Standard Exceptions
The owner policv will be subject to the mortgage, if any, noted under item two of Section I of Schedule B
hereof. All policfes will be subject to the following exceptions: (1) taxes for the year of the effective date of
this Commitment and taxes or special assessments which are not shown as existing liens by the public
records; (2) rights or claims of parties in possession not shown by the public records; (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 public 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 recgrds.
Conditions and Stipulations
The term "mortgage," when used herein, shall include deed of trust, trust deed, or other security
instrument.
If the proposed Insured has or acquires actual knowledge of any defect, lien, encumbrance, adverse
claim or other matter affecting the estate or interest or mortgage thereon covered by this
Commitment other than those shown in Schedule B hereof, and shall fail to disclose such knowledge
to THE FUND in writing, THE FUND shall be relieved from liability for any loss or damage resulting
from any act of reliance hereon to the extent THE FUND is prejudiced by failure to so disclose such
knowledge. If the proposed Insured shall disclose such knowledge to THE FUND, or if THE FUND
otherwise acquires actual knowledge of any such defect, lien, encumbrance, adverse claim or other
matter, THE FUND at its option may amend Schedule B of this Commitment accordingly, but such
amendment shall not relieve THE FUND from liability previously incurred pursuant to paragraph
3 of these Conditions and Stipulations.
Liability of TH E FUN D under this Commitment shall be only to the named proposed Insured and such
parties included under the definition of Insured in the form of policy or policies committed for and
only for actual loss incurred in reliance hereon in undertaking in good faith (a) to comply with the
requirements hereof, or (b) to eliminate exceptions shown in Schedule B, or (c) to acquire or create the
estate or interest or mortgage thereon covered by this Commitment. In no event shall such liability
exceed the amount stated in Schedule A for the policy or policies committed for and such liability is
subject to the insuring provisions, the Exclusions from Coverage and the Conditions and Stipulations
of the form of policy or policies committed for in favor of the proposed Insured which are hereby
incorporated by reference and are made a part of this Commitment except as expressly modified
herein.
Any action or actions or rights of action that the proposed Insured may have or may bring against THE
FUND arising out of the status of the title to the estate or interest or the status of the mortgage thereon
covered by this Commitment must be based on and are subject to the provisions of this Commitment.
FUND COMMITMENT
Schedule A
Commitment No.: CF-0645124
Effective Date: January 8, 2003 at 11:00 p.m.
L Policy or Policies to be issued:
OWNER'S: ALTA Owner's Policy (10/17/92). (If other, specify.)
Proposed Insured:
City of Sanford, a Florida Municipal Corporation
Fund File Number 17-2003-0387
Agent's File Reference: C-SANFORD
Proposed Amount of Insurance
$240,000.00
MORTGAGEE:
Proposed Insured:
The estate or interest in the land described or referred to in this commitment is a fee simple and
title thereto is at the effective date hereof vested in:
Seminole County, a Political Subdivision of the State of Florida
The land referred to in this commitment is described as follows:
Legal description set forth on "Exhibit "A" at~ached.
AGENT NO.: 1487 MAILING ADDRESS:
ISSUED BY: William L. Colbert
Mclx~tos~hhc~t~l Sanford, FL. 32771
AGENT'S SIGNATURE /~ ,.
Page 1 of 3
Rev. l.2
Commi~ent No.: CF-0645124
Ftmd ¥ile }mher 17-2003-0387
Lot~ S~- (6), 8even (7), ~ (8), N~e <9), and Ten (10),
{n Block IN, ~er 5, ~ ~ ~B ~ OF
~ ~ OF ~,
~f,
~, of ~ ~b~ ~ ~ ~le Count, ~o~;
~d ~t Ten (10); ~ ~ ~t, ~ ~ N~r~
~-w~
~
feet ~
FUND COMMITMENT
Schedule B
Commitment No.: CF-0645124
Fund File Number 17-2003-0387
/.
The following are the requirements to be complied with:
1. Payment of the full consideration to, or for the account of, the grantors or mortgagors.
2.
Instruments creating the estate or interest to be insured which must be executed, delivered
and filed for record:
a Warranty Deed from Seminole County to the proposed insured purchaser(s).
A determination must be made that there are no unrecorded special assessment liens or
unrecorded liens arising by virtue of ordinances, unrecorded agreements as to impact or
other development fees, unpaid waste fees payable to the county or municipality, or unpaid
service charges under Ch. 159, F. S., or county ordinance.
Sufficient proof recorded regarding the conveyance of the subject property to the proposed
insured that (a) the individual signing the deed has authority to execute the deed to the subject
property, (b) Seminole County has properly approved the conveyance of the subject property
to the proposed insured purchaser, and (c) that any reservations pursuant to Chapter 270.11,
Florida Statutes are being released.
Il. Schedu~e B ~f the p~licy ~r p~~icies t~ be issued will c~ntain excepti~ns t~ the f~~~~wing matters
unless the same are disposed of to the satisfaction of The Fund:
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.
Any owner and mortgagee policies issued pursuant hereto will contain under Schedule B
the standard exceptions set forth at the inside cover hereof unless an affidavit of possession
and a satisfactory current survey are submitted, an inspection of the premises is made, it is
determined the current year's taxes or special assessments have been paid, and it is
determined there is nothing of record which would give rise to construction liens which
could take priority over the interest(s) insured hereunder (where the liens would otherwise
take priority, submission of waivers is necessary).
Federal liens and judgment liens, if any, filed with the Florida Department of State
pursuant to Sec. 713.901, et seq., F.S., and Sec. 55.201, et seq., F.S., respectively, which
designate the Florida Department of State as the place for filing federal liens and judgment
liens against personal property. For insuring purposes:
(a) Pursuant to Sec. 713.901, et seq., F.S., personal property includes, but is not
limited to, mortgages, leaseholds, mortgages on leaseholds, interests in cooperative
associations, vendees' interests, and options when those interests are held by a
partnership, corporation, trust or decedent's estate; and
Page 2 of 3
FUND COMMITMENT
Schedule B
Commitment No.: (~F-0645124 Fund File Number 17-2003-0387
(b) Pursuant to Sec. 55.201, et seq., F.S., personal property includes, but is not limited
to, leaseholds, interests in cooperative associations, vendees' interests, and options
regardless of the type of entity holding such interests, including individuals. (Note:
Mortgages have been specifically excluded from the personal property interests in
which a judgment lien may be acquired under the provisions of Sec. 55.201, et seq.,
F.S.)
4. Taxes for the year 2003, which are not yet due and payable.
Page 3 of 3
Closing Protection Letter
The operation and scope of the following Closing Protection Letter ("Letter") is limited to the transaction which is the
subject of the commitment to which this Letter is attached and is also directed to those person(s) and/or entity (les) set
forth in the Letter and identified as a proposed insured in the commitment.
RE: Issuing Agent: Agent countersigning the attached commitment.
When title insurance of Attorneys' Title Insurance Fund, Inc. is specified for your protection in connection with closings
of real estate transactions in which you are to be the lessee or purchaser of an interest in land or a lender secured by a
mortgage (including any other security instrument) of an interest in land, Attorneys' Title Insurance Fund, Inc., subject to
the Conditions and Exclusions set forth below, hereby agrees to reimburse you for actual loss incurred by you in connection
with such closing when conducted by said Issuing Agent when such loss arises out of:
1. Failure of said Issuing Agent to comply with your written closing instructions to the extent that they relate
to (a) the status of the title to said interest in land or the validity, enforceability and priority of the lien of said
mortgage on said interest in land, including the obtaining of documents and the disbursement of funds
necessary to establish such status of title or lien, or (b) the obtaining of any other document, specifically
required by you, but not to the extent that said instructions require a determination of the validity,
enforceability or effectiveness of such other document, or (c) the collection and payment of funds due you,
or
2. Fraud or dishonesty of said Issuing Agent in handling your funds or documents in connection with such
closing.
If you are a lender protected under the foregoing paragraph, your borrower in connection with a loan secured by a
mortgage on a one-to-four fanfily dwelling shall be protected as if this letter were addressed to your borrower.
Conditions and Exclusions
A. Attorneys' Title Insurance Fund, Inc. will not be liable to you for loss arising out of:
1. Failure of said Issuing Agent to comply with your closing instructions which require title insurance protection
inconsistent with that set forth in the title insurance binder or commitment issued by Attorneys' Title Insurance
Fund, Inc. Instructions which require the removal of specific exceptions to title or compliance with the
requirements contained in said binder or commitment shall not be deemed to be inconsistent.
2. Loss or impairment of your funds in the course of collection or wi'file on deposit with a bank due to bank failure
insolvency or suspension, except such as shall result from fa!lure of said Issuing Agent to comply with your
written closing instructions to deposit the funds in a bank which you designated by name.
3. Mechanics' and materialmen's liens in cormection with your purchase or lease or construction loan
transactions, except to the extent that protection against such liens is afforded by a title insurance binder,
commitment or policy of Attorneys' Title Insurance Fund, Inc.
4. The periodic disbursement of construction loan proceeds or funds furnished by the owner to pay for construction
costs during the construction of improvements on the land to be insured, unless an officer of the company has
specifically accepted the responsibility to you for such disbursement program in writing.
B. When Attorneys' Title Insurance Fund, Inc. shall have reimbursed you pursuant to this letter, it shall be subrogated
to all rights and remedies which you would have had against any person or property had you not been so reimbursed.
Liability of Attorneys' Title Insurance Fund, Inc. for such reimbursement shall be reduced to the extent that you have
knowingly and voluntarily impaired the value of such right of subrogation.
C. Any liability of Attorneys' Title Insurance Fund, Inc. for loss incurred by you in connection with closings of real
estate transactions by said Issuing Agent shall be limited to the protection provided by this letter. However, this letter
shall not affect the protection afforded by a title insurance binder, commitment or policy of Attorneys Title
Insurance Fund, Inc. The dollar amount of liability hereby incurred shall not be greater than the amount o(the title
insurance binder, conmtitment or policy of title insurance to be issued, and liability hereunder as to any particular loan
transaction shall be coextensive with liability under the policy issued to you in connection with such transaction.
Payment in accordance with the terms of this letter shall reduce by the same amount the liability under such policy
and payment under such policy shall reduce by the same amount the company's liability under the terms of this letter.
D. Claims of loss shall be made promptly to Attorneys' Title Insurance Fund, Inc. at its principal office at 6545 Corporate
Centre Boulevard, P.O. Box 628600, Orlando, Florida 32862-8600. When the failure to give prompt notice shall prejudice
Attorneys' Title Insurance Fund, Inc., then liability of Attorneys' Title Insurance Fund, Inc., hereunder shall be reduced
to the extent of such prejudice. Attorneys' Title Insurance Fund, Inc. shall not be liable hereunder unless notice of loss
in writing is received by Attorneys' Title Insurance Fund, Inc. within ninety (90) days from the date of discovery of
such loss.
E. Nothing contained herein shall be construed as authorizing compliance by any issuing agent with any such closing
instructions, compliance with which would constitute a violation of any applicable law; rule or regulahon relating to
the activity of title insurers, their issuing agents, and their failure to comply with any such closing instructions shall
not create any liability under the terms of this letter.
E The protection herein offered will be effective until cancelled by written notice from Attorneys' Title Insurance Eund,
Inc. Any previous insured Closing Service letter or similar agreement is hereby cancelled, except as to closings of your
real estate transactions regarding which you have previously sent (or within 30 days hereafter send) written closing
instructions to said Issuing Agent.
,It~-21-_~003 FRI 01:24 M1 STENS~Ott,)~CINTO~H,OOk. BE FA)( NO. 407 330 2379
HUD-t UNIFORM SETrLEMENT STATEMENT
SEI-t't-EMENT STATEMENT
P. 02/07
1. _ FHA 2.__ FrnHA 3._ CONV. UNINS,
4. _ VA §. _ CONV, iNS,
, [
C-53,403 _
j, suMM,~A~'~f OF auYr=~'s ~NSACllO.S
kMOUI~JTS pAID BY ORIN BEHALF OF BU~-R
205.
40~- Personal Pmp~
500. P. EDUCllON$ IN AMOUNT DUE TO SELt,~R
taken,.ub,~ct to
loan
County [exes
214,
716.
509.
$14.
517.
519,
$0 O0
TOTAL pND BY/FOR BUYER
300. CASH AT SEttLEMENT FROM/TO BUYER
~3;1, C~oss amt due ~r~m bu~'e~
~ts p~id byA'or buyer Oine 220)
I 3t~). C~H FROM EILmYER
H~;2]-2903 FRI 01:25 PH STEt'~'TROH, i~C]NTOSH, COLB£ F~ XO. 407 330 2379 P. 03/07
L. SETTLEMENT CHARGES
price $ 240.000.00 ~ , % - (line 700) as f=ikw~:
702. $ to
PAID FROM
BUYER'S
FUNDS AT
SETTLEMENT
PAIO FROM
SELLER'S
FUNDS AT
SETTLEMENT
803. Appraisal Fee to
i~06. M~age Ins. Apptlc~ion Fee to
Sffi). ITEM8 REQUIRED By LENDER TO BE pAID IN ADVANCE
901. Ini~ ~ ~
~r err T~ mont~s
too4. Cou.n~r Pro~rW Taxes
~~r mo,ih
rU~p,_ZtTLE CHA~GES
1lOS. No~,ry Fee~ te
t25.00
f t~/~-24-2003 M0N H:29 ~11 STENSTR0?I,~CINTOSH, 00LBE FRX N0. 407 330 2379 P. 02
HUD-1 UNIFORM SETTLEMENT STATEMENT o~,==~,,
SETTLEMENT STATEMENT ~. _ FHA 2._ FmHA 3.__ CONV. UNINS.
4.__ VA S.__ CONY. INS.
(~) ~-~ ~
103. ~;eltlement Chnr~ to Borrower (line 1400) 3,340.50 403.
0.00
517.
~L~R-24-2003 ~t0N I1:29 ~1 ST~?NgT~I, HC[NT0b~,COLJ~E FRX N0. 4(]7 330 2379
g SETTLEMENT CHARGES
702. $ to
?03. Commission paid ~t sePJ~ment
PAID FROM I PAin FRoM
1~~ DEPOSITED WITH LENDER
~suranr. e mon~s~ mtmth
10o~,
1100. TI'~I-E c
1101. ,~ement or C~o~ing Feeto
125,OO
(includes abrade Item numbers:
1109 Leflde~s Coverage
1110. Owner's Coverage $ 240,000,00
1'H1.
1112.
'[,660.00
CONT~tACT FOR S~T.m AND PURCHASE OF LAND
THIS AGREEMENT
subdivision of
is made and entered into this // day of
, 20 ~, by and between SEMINOLE COUNTY, a political
the State of Florida, whose address is Seminole County
Services Building, 1101 East First Street, Sanford, Florida 32771, here-
inafter referred to as "SELLER", and the CITY OF SANFORD, a Florida mu-
nicipal corporation, whose address is Sanford City Hall, 300 North
Park Avenue, Sanford, Florida 32771, hereinafter called the
"PURCHASER".
1. SALE. SELLER agrees to sell and PURCHASER agrees to purchase
the following described real estate, with its appurtenances, located in
the County of Seminole, State of Florida:
LEGAL DESCRIPTION
Lots Six (6), Seven (7), Eight (8), Nine (9), and Ten (10),
in Block 1N, Tier 5 of E.R. T~AFFORD,S MAP OF ='~ TOWN OF
SANFORD, according to the Plat thereof, as recorded in Plat
Book 1, at Page 56 through 64, of the Public Records of
Seminole County, Florida; and the South One-Half (1/2) of
Gabbett Street adjacent thereof and also beginning at the
Southeast corner of said Lot Ten (10); thence run East
along the Northerly right-of-way line of Fulton Street,
14.0 feet; thence run North along the East line of a 14.0
foot Alley, 283.0 feet; thence run West 14.0 feet; thence
run South along the Easterly line and its Northerly exten-
sion of said Lots Six (6), Seven (7), Eight (8), Nine (9),
and Ten (10), 283.0 feet to the Point of Beginning.
SUBJECT to conditions, restrictions, limitations, and ease-
ments of record, if any, which are not reimposed hereby;
applicable zoning regulations; and taxes for the year 1994
and subsequent years.
Property Identification # 25-19-30-5AG-IN05-0060
2. PURCHASE PRICE AND METHOD OF PAYMENT.
(a) The purchase price is TWO HUNDRED FORTY THOUSAND AND NO/100
DOLLARS ($240,000.00), payable to SELLER in cash or by certified funds
at closing. CERTIFIED COPY
MARYANNE MORSE
CLERK OF CIRCUIT COHRT
!
SEMPLE COUNTY, FLORIDA
DEPUTY CLERK
(b) In the event the PURCHASER should ever resell the land Dur-
chased pursuant to this Agreement, the PURCHASER agrees ~to pay to
Seminole County, upon closing, all monies received from the sale in
excess of TWO HUNDRED FORTY THOUSAND AND N0/100 DOLLARS ($240,000.00).
3. TITLE INSURANCE. PURCHASER may purchase an owner's title
insurance policy insuring PURCHASER to the full amount of the purchase
price against loss or damage by reason of defect in the title of
SELLER in the above described premises or by reason of prior liens not
assumed by PURCHASER under this Agreement.
4. DEED. SELLER agrees, on full payment of the purchase price
of TWO HUNDRED FORTY THOUSAND AND N0/100 DOLLARS ($240,000.00), to
make, execute, and deliver to PURCHASER a County Deed to the premises.
5. CLOSING/COSTS. Closin~ will take place in the office of
the County's Closing Agent within ninety (90) days of full execution
of this Agreement. At the closing, SELLER will provide PURCHASER with
the County Deed to the premises, and PURCHASER shall provide the
SELLER with payment of the full purchase price. Following the clos-
ing, PURCHASER shall have the right to exclusive possession of the
property. All closing costs shall be paid by the PURCHASER.
6. ASSIG~NMENT. This Agreement shall not be assignable.
7. CONDITION OF PREMISES. PURCHASER stipulates that a full
inspection of the premises has been made and that SELLER shall not be
held liable in any way respecting the condition of the premises and
occurrences on the premises. PURCHASER accepts the premises nas is".
8. WAIVER OF MINERAL RIGHTS RESERVATION.
the SELLER disclaims and releases the retention and
undivided three-fourths
By this Contract,
reservation of an
(3/4) interest in, and title in and to an un-
2
divided three-fourths (3/4) interest in, all the phosphate, minerals,
and metals that are or may be in, on or under the land described above
and an undivided one-half (1/2) interest in all the petroleum that is
or may be in, or under that land, with the privilege to mine and de-
velop the same.
The SELLER is authorized to and does hereby disclaim and release
its Reservation of Mineral Rights as to the whole of the above de-
scribed property, and consents that the same be disclaimed and re-
leased of record.
IN WITNESS WHEREOF, the parties hereto have made and executed
this instrument on the date above stated.
ATTEST:
HF~TY, ~ity Cl~rk
For the use and reliance
of the City of Sanford only.
Approved as to form and
legal sufficiency.
City Attorney
CITY OF SANFORD
By:. ~~
BRADY LES~A~D, Mayor
ATTEST:
~rk~to ~eRS~oard of
County Co~muissioners of
Seminole County, Florida.
For the use and reliance
of Seminole County only.
Approved as to form and
legal sufficiency
AC/Z~
~/~103 ~/5/03
saZe of Za~ ~o Sanfor~
BOARD OF COUNTY COMMISSIONERS
SEMINOLE COUNTY, FLORIDA
By.-~~, ~
DARYL G. MCLAIN, Chairman
Date: ~ -// -03
As authorized for execution by
the Board of County Commissioners
at their_~_~. , 20g~
regular meetinq~/ --
(Myrtle Ay)
STENSTROM, McINTOSH, COLBERT. WHIGHAM & SIMMONS. P.A.
ATTORNEYS AND COUNSELLORS AT LAW
Janet R. Doughery
City Clerk, City of Sanford
300 S. Park Avenue
Sanford, FL 32771
May 2, 2003
Re:
Purchase from Seminole County and
Sale to Roliho, Inc.
Dear Ms. Dougherty:
Enclosed are the following with regard to the above-referenced transaction:
1. Original Owner's Title Insurance Policy No. 2008287
This now completes this transaction.
Just to let you know, I discussed the County Deed with Mr. Groot. He advises that the County
Deed is by law the format that the County must use.
Sincerely,
STENSTROM, McINTOSH, COLBERT,
WHIGHAM & SIMMONS, P.A.
y . e~er, CLA
Lonnie N. ~Groot
Enclosure
cc: John Jones
I:~Vlary\Real Estatc~WLC\Sanford\County to City\clerk ltr. wpd
Dwner's Polic,
[ I fi 'f ]
Attorneys' Tide 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 Stipula-
tions.
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.
,, .'" ~,'".~2, Attorneys' Tide Insurance Fund, Inc.
Charles J. Kovaleskl
President
SERIAL
OPM- 2008287
FUND FORM OPM (rev. 3/98)
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
govern men tal regulations, except to the extent that a notice of the enforcement thereof or a notice ora defect, lie n 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 ora
defec t, lien or encumbrance resul ting 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) resultingin I°ss °r damage which would not have been sustained if the insured claimant had paid value for the estate or interest insured
by this policy.
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 transacti°n creating the estate or interest insured by this policy being deemed a fraudulent conveyance or fraudulent transfer; or
(b) the transacti°n crearing the estate or interest insured by this policy being deemed a preferenrial 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. Del'tuition 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 .!and.
(d) "land": the land described or referred to in Schedule A, and
improvements affixed thereto which by Iaw 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, ride, 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 p~rpose 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 tide 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 rifle.
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 in?ured in any transfer or conveyance of the estate or
interest. This polic~ 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 noti~/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 tide or interest which is
adverse to the title to the estate or interest, as insured, and which ndght
cause loss or damage for which The Fund may be liable by virtue of this
policy, or (iii) if tide 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 allliability 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 unde~ this policy unless The Fund shall be
prejudiced by the failure and then only to the extent of the prejudice.
4. Defense and Prosecurion of Actions; Duty of Insured Claimant
To Cooperate
(a) Upon written request by the insured and subject to the options
cox)rained in Section 6 of these Conditions and Stipulations, The Fund,
at ~ts 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 tide or interest as insured, but only as to those stated
~auses 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
op!nion may be necessary or desirable to establish the tide to the estate
or ~nterest, 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.
(c) Whenever The Fund shall hav~brough~an action or interposed
a defense as required or permitted by the provisions of this policy, The
FUND OWNER'S FORM
SCHEDULE A
Policy No.: 0PM-2008287
Effective Date: April 3, 2003
at 11:59 a.m.
Agent's File Reference: C- 53,403
City of Sanford/Roliho, Inc.
Amount of Insurance: $240,000.00
1. Name of Insured: CITY OF SANFORD, a FLORIDA MUNICIPAL CORPORATION
2. The estate of 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 name insured as shown by instrument recorded in
Official Records Book 4767, Page 1733, of the Public Records of Seminole County, Florida.
3. The land referred to in this policy is described as follows:
Lots Six (6), Seven (7), Eight (8), Nine (9), and Ten (10), in Block 1N, Tier 5, E. R.
TRAFFORD'S MAP OF THE TOWN OF SANFORD, according to the Plat thereof, as
recorded in Plat Book 1, at Page 56 through 64, of the Public Records of Seminole County,
Florida; and the South One-Half (%) of Gabbett Street adjacent thereof and also beginning
at the Southeast comer of said Lot Ten (10); thence run East, along the Northerly right-of-way
line of Fulton Street, 14.0 feet; thence run North along the East line of a 14.0 foot Alley, 283.0
feet, thence run West 14.0 feet; thence mn South along the Easterly line and its Northerly
extension, of said Lots Six (6), Seven (7), Eight (8), Nine (9), and Ten (10), 283.0 feet to the
Point of Beginning.
I, the undersigned agent, hereby certify that
· the transaction insured herein is governed by RESPA,
· if Yes to the above, I have performed all "core title agent services."
[] Yes X No
[] Yes [] No
AGENT NO. 1487
ISSUED BY:
WILLIAM L. COLBERT, OF
STENSTROM, MclNTOSH, COLBERT,
WHIGHAM & SIMMONS, P.A.
P.O. Box 4848
Sanford, FL 32772-4848
FUND OWNER'S FORM
SCHEDULE B
Policy No,: OPM-2008287
This policy does not insure against loss or damage by reason of the following exceptions:
Taxes for the year of the effective date of this policy and taxes or special assessments which are not
shown as existing liens by the public records.
Rights or claims of parties in possession not shown by the public records.
Easements or claims of easements not shown by the public records.
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 accredited to
such lands.
5. This policy does not cover riparian or littoral rights.
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 fight 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, sectoring evidence, obtaining witnesses, prosecuting or
[lefending the action or proceeding, or effecting settlement, and (ii)
in any other lawful act which in the opinion of The Fnnd 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 tbe 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
tide, 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 anylitigation, 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 autho-
rized 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.
yurther, if requested by any authorized representative of The Fund, the
insured claimant shall grant its permission, in writing, for any autho-
rized representative of The Fund to examine, inspect and copy all
records, books, ledgers, checks, correspondence and melnoranda in
the custody or control of a third party, which reasonably pertain to file
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 rea-
sonably necessary information from third parties as required in this
paragraph shali terminate anyliability 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 Fnnd shall bave 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 obliga-
tions 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 thc
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 Funcf'is obligated to pay; or
(ii) to pay or otherwise settle with the insured claimant the loss
or damage provided for nndcr 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 itl
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 obliga-
tion 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) (ThisparagraphdeallngwithCoinsurancewasremovedfrombTorida
policies.)
(c) The Fund will pay only those costs, attorneys' fees and expenses
incurred in accordance with Section 4 of these Conditions and Stipu-
lations
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, thc loss shall be computed and setfled
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 Polic~ of each separate parcel
to the whole, exclusive of any improvements n~ade 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 Thc Fund establishes thc titie, or removes the alleged defect,
lien or encumbrance, or cures the lack of a right of access to or from thc
land, or cures thc claim of unmarketability of tide, all as insured, in a
reasonably diligent manner by any method, including litigation and
thc 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
coInpetent jurisdiction, and disposition of all appeals therefrom, ad-
verse to the title as insured.
(c) The Fund shall not be liable for loss or damage to any insured
for liability voluntar/ly 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 anlount 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 tile policy has been lost or de-
stroyed, 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, ail 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 ail 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, notwith-
standing any terms or condidons con rained in those instruments which
provide for subrogation rights by reason of this policy.
14 Arbitration
Unless prohibited by apptlcable law, arbitration pursuant to th~ Title Insur-
ance Arbitration Rules of the Amerlean Arbitration .4~sociation may be
denumded ~f ngreed to by both The Fund and the insured. Arbitrable matters
may include, but are not limited to, any controversy or cla im between The Fund
a. nd the insured arising out of or relailng to this policy, and sertrke of The Fund
m cormection with its issuance or the breach of a policy provision or other
obligatior~ Arbitratlon pursuant to this policy and under the Rules in effect on
the date the denmnd for arbitration is made or, at the option of the insured,
the Rules in ~ct at Date of Policy shall be binding upon the parties. The
award may include attorneys 'fees only ~ the laws of the state in which the land
is located permit a court to award attorneys'fees to a preoailing party.
Judgment upon the award rendered by the Arbitrator (s) may be entered in any
court havingjurisdictlon thereof.
The law of the situs of the land shall apply to an arbitration under the
Tide Insurance Arbitration Rules.
A copy of the Rules may be obtained from The Fund upon request.
15. Liability Limited to Ibis Policy; Policy Entire Conlxact
(a) This policy together w~th 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 o£ this policy, this
policy shall be construed as a whole.
(b) Any claim of loss or damage, whether or not based on negli-
gence, and which arises out of tile status of tile title to the estate or
interest covered herohy 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 nnmber of this
policy and shall be addressed to The Fund at its principal office at Post
Office Box 628600, Orlando, Florida ~2862-$600.