Title InsuranceAMERICAN LAND TITLE ASSOCIATION
OWNER'S POLICY
(10-17-92)
Policy No. FL3057-46-07-092 jt-2007.7210609-74465744
CHICAGO TITLE INSURANCE COMPANY
SUBJECT TO THE EXCLUSIONS FROM COVERAGE, THE EXCEPTIONS FROM COVERAGE CONTAINED IN
SCHEDULE B AND THE CONDITIONS, AND STIPULATIONS, CHICAGO TITLE INSURANCE COMPANY, a Missouri
corporation, herein called the Company, 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 Company will also pay the costs, attorneys' fees and expenses incurred in defense of the title, as insured, but only to the
extent provided in the Conditions and Stipulations.
In Witness Whereof, CHICAGO TITLE INSURANCE COMPANY has caused this policy to be signed and sealed as of Date of
Policy shown in Schedule A, the policy to become valid when countersigned by an authorized signatory.
FL3057 07-092 jt
Spottswood, Spottswood & Spottswood
500 Fleming Street
Key West, FL 33040
Tel:(305) 294-9556
Fax:(305)292-1982
Reorder Form No. 8218 (Reprinted 10/00) (7210609)
CHICAGO TITLE INSURANCE COMPANY
ALTA Owner's Policy (10-17-92) with Florida Modifications
CONDITIONS AND STIPULATIONS
DEFINITION OF TERMS
The following terms when used in this policy mean:
(a) "insured": the insured named in Schedule A, and, subject to any rights
or defenses the Company would have had against the named insured, those who
succeed to the interest of the named insured by operation of law as distinguished
from purchase including, but not limited to, heirs, distributees, devisees, survivors,
personal representatives, next of kin, or corporate or fiduciary successors.
(b) "insured claimant": an insured claiming loss or damage.
(c) "knowledge" or "known": actual knowledge, not constructive knowledge
or notice which may be imputed to an insured by reason of the public records as
defined in this policy or any other records which impart constructive notice of
matters affecting the land.
(d) "land": the land described, or referred to in Schedule A, and im-
provements affixed thereto which by law constitute real property. The term "land"
does not include any property beyond the lines of the area described or referred to
in Schedule A, nor any right, title, interest, estate or easement in abutting streets,
roads, avenues, alleys, lanes, ways or waterways, but nothing herein shall modify
or limit the extent to which a right of access to and from the land is insured by this
policy.
(e) "mortgage": mortgage, deed of trust, trust deed, or other security
instrument.
(f) "public records": records established under state statutes at Date of
Policy for the purpose of imparting constructive notice of matters relating to real
property to purchasers for value and without knowledge. With respect to Section
I(a)(iv) of the Exclusions From Coverage, "public records" shall also include
environmental protection liens filed in the records of the clerk of the United States
district court for the district in which the land is located.
(g) "unmarketability of the title": an alleged or apparent matter affecting the
title to the land, not excluded or excepted from coverage, which would entitle a
purchaser of the estate or interest described in Schedule A to be released from
the obligation to purchase by virtue of a contractual condition requiring the delivery
of marketable title.
2. CONTINUATION OF INSURANCE AFTER CONVEYANCE OF TITLE
The coverage of this policy shall continue in force as of Date of Policy in
favor of an insured only so long as the insured retains an estate or interest in the
land, or holds an indebtedness secured by a purchase money mortgage given by
a purchaser from the insured, or only so long as the insured shall have liability by
reason of covenants of warranty made by the insured in any transfer or
conveyance of the estate or interest. This policy shall not continue in force in
favor of any purchaser from the insured of either (i) an estate or interest in the
land, or (ii) an indebtedness secured by a purchase money mortgage given to the
insured.
3. NOTICE OF CLAIM TO BE GIVEN BY INSURED CLAIMANT
The insured shall notify the Company promptly in writing (i) in case or any
litigation as set forth in Section 4(a) below, (ii) in case knowledge shall come to an
insured hereunder of any claim of title or interest which is adverse to the title to the
estate or interest, as insured, and which might cause loss or damage for which the
Company may be liable by virtue of this policy, or (iii) if title to the estate or
interest, as insured, is rejected as unmarketable. If prompt notice shall not be
given to the Company, then as to the insured all liability of the Company shall
terminate with regard to the matter or matters for which prompt notice is required;
provided, however, that failure to notify the Company shall in no case prejudice
the rights of any insured under this policy unless the Company shall be prejudiced
by the failure and then only to the extent of the prejudice.
4. DEFENSE AND PROSECUTION OF ACTIONS: DUTY OF INSURED
CLAIMANT TO COOPERATE.
(a )Upon written request by the insured and subject to the options
contained in Section 6 of these Conditions and Stipulations, the Company, at its
own cost and without unreasonable delay, shall provide for the defense of an
insured in litigation in which any third party asserts a claim adverse to the title or
interest as insured, but only as to those stated causes of action alleging a defect,
lien or encumbrance or other matter insured against by this policy. The Company
shall have the right to select counsel of its own 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 Company 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 Company shall have the right, at its own cost, to institute and
prosecute any action or proceeding or to do any other act which in its opinion may
be necessary or desirable to establish the title to the estate or interest, as insured,
or to prevent or reduce loss or damage to the insured. The Company 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 Company, shall exercise its rights under this paragraph, it shall
do so diligently.
(c) Whenever the company shall have brought an action or interposed a
defense as required or permitted by the provisions of this policy, the Company
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 Company to
prosecute or provide for the defense of any action or proceeding, the insured shall
secure to the Company the right to so prosecute or provide defense in the action
or proceeding, and all appeals therein and permit the Company to use, at its
option, the name of the insured for this purpose. Whenever requested by the
Company, the insured, at the Company's expense, shall give the Company all
reasonable aid (i) in any action or proceeding, securing evidence, obtaining
witnesses, prosecuting or defending the action or proceeding, or effecting
settlement, and (ii) in any other lawful act which in the opinion of the Company
may be necessary or desirable to establish the title to the estate or interest as
insured. If the Company is prejudiced by the failure of the insured to furnish the
required cooperation, the Company's obligations to the insured under the policy
shall terminate, including any liability or obligation to defend, prosecute, or
continue any litigation, with regard to the matter or matters requiring such
cooperation.
5. PROOF OF LOSS OR DAMAGE
In addition to and after the notices required under Section 3 of these
Conditions and Stipulations have been provided the Company, a proof of loss or
damage signed and sworn to by the insured claimant shall be furnished to the
Company within 90 days after the insured claimant shall ascertain the facts giving
rise to the loss or damage. The proof of loss or damage shall describe the defect
in, or lien or encumbrance on the title, or other matter insured against by this
policy which constitutes the basis of loss or damage and shall state, to the extent
possible, the basis of calculating the amount of the loss or damage. If the
Company is prejudiced by the failure of the insured claimant to provide the
required proof of loss or damage, the Company's obligations to the insured under
the policy shall terminate, including any liability or obligation to defend, prosecute,
or continue any litigation, with regard to the matter or matters requiring such 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 Company and
shall produce for examination, inspection and copying, at such reasonable times
and places as may be designated by any authorized representative of the
Company, all records, books, ledgers, checks, correspondence and memoranda,
whether bearing a date before or after Date of Policy, which reasonably pertain to
the loss or damage. Further, if requested by any authorized representative of the
Company, the insured claimant shall grant its permission, in writing, for any
authorized representative of the Company to examine, inspect and copy all
records, books, ledgers, checks, correspondence and memoranda in the custody
or control of a third party, which reasonably pertain to the loss or damage. All
information designated as confidential by the insured claimant provided to the
company pursuant to this Section shall not be disclosed to others unless, in the
reasonable judgment of the Company, it is necessary in the administration of the
claim. Failure of the insured claimant to submit for examination under oath,
produce other reasonably requested information or grant permission to secure
reasonably necessary information from third parties as required in the above
paragraph, unless prohibited by law or governmental regulation, shall terminate
any liability of the Company 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 Company shall have the following
additional options:
(a) To Pay or Tender Payment of the Amount of Insurance.
To pay or tender payment of the amount of insurance under this policy
together with any costs, attorneys' fees and expenses incurred by the insured
claimant, which were authorized by the Company, up to the time of payment or
tender of payment and which the Company is obligated to pay.
Upon the exercise by the Company of this option, all liability and obligations
to the insured under this policy, other than to make the payment required, shall
terminate, including any liability or obligation to defend, prosecute, or continue any
litigation, and the policy shall be surrendered to the Company for cancellation.
(b) To Pay or Otherwise Settle With Parties Other than the Insured or
With the Insured Claimant.
(i) to pay or otherwise settle with other parties for or in the name of an
insured claimant any claim insured against under this policy, together with any
costs, attorneys' fees and expenses incurred by the insured claimant which were
authorized by the Company up to the time of payment and which the Company is
obligated to pay; or
(ii) to pay or otherwise settle with the insured claimant the loss or damage
provided for under this policy, together with any costs, attorneys' fees and
expenses incurred by the insured claimant which were authorized by the
Company up to the time of payment and which the Company is obligated to pay.
Upon the exercise by the Company of either of the options provided for in
paragraphs (b)(i) or (ii), the Company's obligations to the insured under this policy
for the claimed loss or damage, other than the payments required to be made,
shall terminate, including any liability or obligation to defend, prosecute or
continue any litigation.
7. DETERMINATION, EXTENT OF LIABILITY AND COINSURANCE.
This policy is a contract of indemnity against actual monetary loss or damage
sustained or incurred by the insured claimant who has suffered loss or damage by
reason of matters insured against by this policy and only to the extent herein
described.
(a) The liability of the Company under this policy shall not exceed the least
of: (i) the Amount of Insurance stated in Schedule A; or
(ii) the difference between the value of the insured estate or interest as
insured and the value of the insured estate or interest subject to the defect, lien or
encumbrance insured against by this policy.
(b) This paragraph removed in Florida policies.
(c) The Company will pay only those costs, attorney's fees and expenses
incurred in accordance with Section 4 of these Conditions and Stipulations.
8. APPORTIONMENT.
If the land described in Schedule A consists of two or more parcels which are
not used as a single site, and a loss is established affecting one or more of the
parcels but not all, the loss shall be computed and settled on a pro rata basis as if
the amount of insurance under this policy was divided pro rata as to the value on
Date of Policy of each separate parcel to the whole, exclusive of any
improvements made subsequent to Date of Policy, unless a liability or value has
otherwise been agreed upon as to each parcel by the Company and the insured at
the time of the issuance of this policy and shown by an express statement or by
an endorsement attached to this policy.
9. LIMITATION OF LIABILITY.
(a) If the Company establishes the title, or removes the alleged defect, lien
or encumbrance, or cures the lack of a right of access to or from the land, or cures
the claim or unmarketability of title or otherwise establishes the lien of the insured
mortgage, all as insured, in a reasonably diligent manner by any method, including
litigation and the completion of any appeals therefrom, it shall have fully performed
its obligations with respect to that matter and shall not be liable for any loss or
damage caused thereby.
(b) In the event of any litigation, including litigation by the Company or with
the Company's consent, the Company shall have no liability for loss or damage
until there has been a final determination by a court of competent jurisdiction, and
disposition of all appeals therefrom, adverse to the title as insured.
(c) The Company shall not be liable for loss or damage to any insured for
liability voluntarily assumed by the insured in settling any claim or suit without the
prior written consent of the Company.
10. REDUCTION OF INSURANCE; REDUCTION OR TERMINATION OF
LIABILITY.
All payments under this policy, except payments made for costs, attorneys'
fees and expenses, shall reduce the amount of the insurance pro tanto.
11. LIABILITY NONCUMULATIVE.
It is expressly understood that the amount of insurance under this policy
shall be reduced by any amount the Company may pay under any policy insuring
a mortgage to which exception is taken in Schedule B or to which the insured has
agreed, assumed, or taken subject, or which is hereafter executed by an insured
and which is a charge or lien on the estate or interest described or referred to in
Schedule A, and the amount so paid shall be deemed a payment under this policy
to the insured owner.
12. PAYMENT OF LOSS.
(a) No payment shall be made without producing this policy for
endorsement of the payment unless the policy has been lost or de-
stroyed, in which case proof of loss or destruction shall be furnished to
the satisfaction of the Company.
(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 Company's Right of Subrogation.
Whenever the Company shall have settled and paid a claim under this
policy, all right of subrogation shall vest in the Company unaffected by any act of
the insured claimant.
The Company shall be subrogated to and be entitled to all rights and
remedies which the insured claimant would have had against any person or
property in respect to the claim had this policy not been issued. If requested by
the Company, the insured claimant shall transfer to the Company all rights and
remedies against any person or property necessary in order to perfect this right of
subrogation. The insured claimant shall permit the Company to sue, compromise
or settle in the name of the insured claimant and to use the name of the insured
claimant in any transaction or litigation involving these rights or remedies.
If a payment on account of a claim does not fully cover the loss of the
insured claimant, the Company shall be subrogated to these rights and remedies
in the proportion which the Company'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 Company, 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 Company by reason of the impairment by
the insured claimant of the Company's right of subrogation.
(b) The Company's Rights Against Non-insured Obligors.
The Company's right of subrogation against non-insured obligors shall exist
and shall include, without limitation, the rights of the insured to indemnities,
guaranties, other policies of insurance or bonds, notwithstanding any terms or
conditions contained in those instruments which provide for subrogation rights by
reason of this policy.
14. ARBITRATION.
Unless prohibited by applicable law, arbitration pursuant to the Title
Insurance Arbitration Rules of the American Arbitration Association may be
demanded if agreed to by both the company and the insured. Arbitrable matters
may include, but are not limited to, any controversy or claim between the
Company and the insured arising out of or relating to the policy, any service of the
Company in connection with its issuance or the breach of a policy provision or
other obligation. Arbitration pursuant to this policy and under the Rules in effect
on the date the demand for arbitration is made or, at the option of the insured, the
Rules in effect at Date of Policy shall be binding upon the parties. The award may
include attorneys' fees only If the laws of the state in which the land is located
permit a court to award attorneys' fees to a prevailing party. Judgment upon the
award rendered by the Arbitrator(s) may be entered in any court having jurisdiction
thereof.
The law of the situs of the land shall apply to an arbitration under the Title
Insurance Arbitration Rules.
A copy of the Rules may be obtained from the Company upon request.
15. LIABILITY LIMITED TO THIS POLICY; POLICY ENTIRE CONTRACT
(a) This policy together with all endorsements, if any, attached hereto by
the Company is the entire policy and contract between the Insured and the
Company. In interpreting any provision of this policy, this policy shall be
construed as a whole.
(b) Any claim of loss or damage, whether or not based on negligence, and
which arises out of the status of the title to the estate or interest covered hereby or
by any action asserting such claim, shall be restricted to this policy
(c) No amendment of or endorsement to this policy can be made except by
a writing endorsed hereon or attached hereto signed by either the President, a
Vice President, the Secretary, an Assistant Secretary, or validation officer or
authorized signatory of the Company.
16. SEVERIBILITY
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 Company and any statement in writing
required to be furnished the Company shall include the number of this policy and
shall be addressed to the Company at the issuing office or to:
Claims Department
P.O. Box 45023
Jacksonville, FL 32232-5023
EXCLUSIONS FROM COVERAGE
The following matters are expressly excluded from the coverage of this policy and the Company will not pay loss or damage,
costs, attorneys' fees or expenses which arise by reason of:
1. (a) Any law, ordinance or governmental regulation (including but not limited to building and zoning laws, ordinances, or
regulations) restricting, regulating, prohibiting or relating to (i) the occupancy, use, or enjoyment of the land; (ii) the
character, dimensions or location of any improvement now or hereafter erected on the land; (iii) a separation in
ownership or a change in the dimensions or area of the land or any parcel of which the land is or was a part; or (iv)
environmental protection, or the effect of any violation of these laws, ordinances or governmental regulations, except
to the extent that a notice of the enforcement thereof or a notice of a defect, lien or encumbrance resulting from a
violation or alleged violation affecting the land has been recorded in the public records at Date of Policy.;
(b) Any governmental police power not excluded by (a) above, except to the extent that a notice of the exercise thereof
or a notice of a defect, lien or encumbrance resulting from a violation or alleged violation affecting the land has been
recorded in the public records at Date of Policy.
2. Rights of eminent domain unless notice of the exercise thereof has been recorded in the public records at Date of Policy,
but not excluding from coverage any taking which has occurred prior to Date of Policy which would be binding on the
rights of a purchaser for value without knowledge.
3. Defects, liens, encumbrances, adverse claims or other matters;
(a) created, suffered, assumed or agreed to by the insured claimant;
(b) not known to the Company, not recorded in the public records at Date of Policy, but known to the insured claimant
and not disclosed in writing to the Company by the insured claimant prior to the date the insured claimant became an
insured under this policy;
(c) resulting in no loss or damage to the insured claimant;
(d) attaching or created subsequent to Date of Policy, or
(e) resulting in loss or damage which would not have been sustained if the insured claimant had paid value for the estate
or interest insured by this policy.
4. Any claim, which arises out of the transaction vesting in the insured the estate or interest insured by this policy, by
reason of the operation of federal bankruptcy, state insolvency, or similar creditors' rights laws, that is based on:
(i) the transaction creating the estate or interest insured by this policy being deemed a fraudulent conveyance or
fraudulent transfer; or
(ii) the transaction creating the estate or interest insured by this policy being deemed a preferential transfer except
where the preferential transfer results from the failure:
(a) to timely record the instrument of transfer; or
(b) of such recordation to impart notice to a purchaser for value or a judgment or lien creditor.
ENDORSEMENT
Chicago Title Insurance Company
Key West, Florida
Endorsement No. 1 to Title Owner's Policy No.: 7210609-74465744
1. Policy or Policies to be issued: Proposed Amount of Insurance:
OWNER'S:ALTA Owner's Policy(10/17/92).(If other,specify.) $2,024,750.00
Proposed Insured: Monroe County,a political subdivision of the State of Florida
MORTGAGEE:ALTA Loan Policy(10/17/92).(If other,specify.) $
Proposed Insured:
Original Effective Date: June 12,2007 at 04:47 P.M.
The policy is hereby amended as follows:
Items No. 1 and 19 are hereby deleted from policy.
ALL OTHER ITEMS REMAIN THE SAME.
(Continue text of endorsement on separate continuation sheet if necessary.)
but in all other respects remains unchanged.
Spottswood,Spottswood&Spottswood 10/08/2007 10-2472-02
Name of Agent Date Agent No.
L..... 31,
`, (�, /' n 4 / . Chicago Title Insurance Company
Agent's Si: re President
Endorsement(rev.8/01) DoubleTime®5.0.2
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Chicago Title Insurance Company
OWNER'S POLICY
Schedule A
Policy No.: Effective Date: Agent's File Reference:
7210609-74465744 June 12,2007 @ 04:47 PM 07-092-ET
Amount of Insurance: $2,024,750.00
1. Name of Insured: Monroe County, a political subdivision of the State of Florida
2. The estate or interest in the land described herein and which is covered by this policy is a fee simple (if other, specify
same) and is at the effective date hereof vested in the named insured as shown by instrument recorded as Document
No. 1647622 in Official Records Book 2301,Page 363, of the Public Records of Monroe County,Florida.
3. The land referred to in this policy is described as follows:
A parcel of land on Stock Island, being a part of Block 59, MALONEY SUBDIVISION, according to the
Plat thereof, as recorded in Plat Book 1, Page 55, of the Public Records of Monroe County, Florida, and
adjacent submerged lands,said parcel being more particularly described by metes and bounds as follows:
Commencing at the W'ly Right-of-Way Line of Cross Street and the S'ly Right-of-Way Line of Fifth
Avenue and run thence West along the S'ly Right-of-Way Line of the said Fifth Avenue for a distance of
450.00 feet to the Point of Beginning, said point also being the NW'ly corner of LINCOLN GARDENS
NO. 2 SUBDIVISION, as recorded in Plat Book 5, at Page 90, of the Public Records of Monroe County,
Florida; thence continue West and along the S'ly Right-of-Way Line of the said Fifth Avenue for a distance
of 691.45 feet; thence run South for a distance of 79.47 feet; thence run S 3 degrees 00' 00" W for a
distance of 88.04 feet to a curve, concave to the Northeast and having for its elements a radius of 157.0 feet,
and a delta of 43 degrees 00';thence run SE'ly along the arc of said curve for a distance of 117.83 feet to the
end of said curve; thence run S 40 degrees 00' 00" E for a distance of 183.23 feet to a curve, concave to the
North and having for its elements a radius of 92.0 feet and a delta of 95 degrees 00'; thence run SE'ly and
NE'ly along the arc of said curve for a distance of 152.54 feet to the end of said curve; thence run N 45
degrees 00' 00" E for a distance of 406.95 feet to a curve, concave to the Northwest and having for its
elements a radius of 87.0 feet, and a delta of 11 degrees 49' 24"; thence run NE'ly along the arc of said
curve for a distance of 17.95 feet; thence run East for a distance of 37.33 feet; thence run S 74 degrees 58'
15" E for a distance of 72.32 feet to a point that is on the W'ly boundary line of the said LINCOLN
GARDENS NO. 2 SUBDIVISION; thence run North and along the W'ly boundary line of the said
LINCOLN GARDENS NO. 2 SUBDIVISION for a distance of 139.88 feet back to Sly right-of-way line of
the said Fifth Avenue and the Point of Beginning.
Agent No.: 10-2472-02
Issuing Agent:
Spottswood,Spottswood&Spottswood
500 Fleming Street In
Key West,FL 33040 ✓J�� I '
Agent's Signa re
Erica N.Hughes S erling
Attorney at Law
Form OPM-SCH.A
(rev. 1/98) DoubleTime®5.0.2
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Chicago Title Insurance Company
OWNER'S POLICY
Schedule B
Policy No.: Agent's File Reference:
7210609-74465744 07-092-ET
This policy does not insure against loss or damage by reason of the following exceptions:
1. Rights or claims of parties in possession not shown by the public records.
2. Any adverse ownership claim by the State of Florida by right of sovereignty to any portion of the lands insured
hereunder,including submerged, filled and artificially exposed lands, and lands accreted to such lands.
3. The lien of all real estate taxes for the year 2007, and thereafter which are not yet due and payable, and the lien of any
special taxes or assessments entered against said property after the date hereof
4. State law under Chapter 76-190 and Chapter 22F8.02 of the Florida Administrative Code for Land Planning for the
Florida Keys Area of Critical State Concern,recorded in Official Records Book 668,Page 43, of the Public Records of
Monroe County,Florida.
5. Subject to County Ordinance 10-77,providing for annual levy of garbage and trash collection fees to be assessed upon
this parcel of land.
6. This Policy does not insure riparian or littoral rights and water privileges incident to ownership of subject property.
7. Subject to House Bill No. 634, Chapter 70-231, an Act relating to the bureau of beaches, shores and coastal
construction; amending Chapter 161, Florida Statutes,by adding Section 161.052; providing a setback line for coastal
construction and excavation; providing for the granting of variances by the Depaitnient of Natural Resources;
providing penalties; and providing an effective date.
8. Subject to the rights of the State of Florida and the United States to regulate the use of the navigable waters.
9. This Policy excludes from coverage adverse ownership claims by the State of Florida to those portions of the property
described in Schedule A herein that comprise sovereignty lands (including without limitation submerged, filled and
artificially exposed lands) that (i) have not been previously conveyed or transferred by the state, or (ii) are legally
excluded from prior state conveyances of other types of lands.
10. The premises herein described being artificially filled land in what was formerly navigable waters, it is subject to any
and all rights of the United States Government and of the State of Florida arising by reasons of the United States
Government control over navigable waters in the interest of navigation and commerce and the inalienable rights of the
State of Florida in lands and/or waters of such character.
11. Subject to AICUZ Zoning exception as set forth in Resolution as to high noise or high hazard area recorded in Official
Records Book 787,at Page 234, of the Public Records of Monroe County,Florida.
12. Title to personal property is not insured.
13. Access Easement for ingress and egress, over and across the property described in Schedule A herein setting forth
terms and conditions for use and maintenance as recorded in Official Records Book 2301, at Page 417, of the Public
Records of Monroe County,Florida.
14. Subject to those Conditions,Limitations and Easements as shown on that certain Plat recorded in Plat Book 1,Page 55,
of the Public Records of Monroe County,Florida.
15. Subject to Warranty Deed No. 21180 from the Trustees of the Internal Improvement Fund of the State of Florida to
Key West Drive In.,Inc., filed in Official Records Book 286,Pages 561-563,in the Public Records of Monroe County,
Florida. Saving and reserving unto the Trustees of the Internal Improvement Fund of the State of Florida, and their
successors,title to an undivided 3/4 of all phosphate,minerals and metals and title to an undivided 1/2 of all petroleum
that may be in, on, or under the above described land, with the privilege to mine and develop the same. The right of
entry has been released pursuant to Florida Statute 270.11(2b).
16. Deed of Conservation Easement between Drive In Ltd. and South Florida Water Management District dated July 15,
2005,recorded in Official Records Book 2150,Page 2077.
17. Planning Commission Resolution No. C35-05 recorded December 7,2005 in Official Records Book 2170,Page 2196.
Form OPM-SCH.B
(rev.5/94) DoubleTime®5.0.2
Chicago Title Insurance Company
OWNER'S POLICY
Schedule B (Continued)
Policy No.: Agent's File Reference:
7210609-74465744 07-092-ET
18. Subject to the terms and conditions of South Florida Water Management District General Permit No. 44-00345-P,
issued September 2,2005.
19. Subject to that certain Lease dated September 30, 1957, filed on February 20, 1967 in Official Records Book 386,
Page 613, together with all amendments thereto, and terminated by Memorandum of Lease Termination dated
November 7,2000 in Official Records Book 1664, at Page 403,both in the Public Records of Monroe County,Florida.
Form OPM-SCH.B(Continued)
(rev.5/94) DoubleTime®5.0.2