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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.