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Title Insurance.1(American Land Title Association Commitment — 1966 Rev � COMMITMENT 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 Commit- ment 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. \�,_t INSUR1,y,. O RPoR1.,Attorneys' Title Insurance Fund, Inc. SERA. By L �� FcoRio� Charles J. Kovaleski President S E R I A L C- 1952582 RJND FORM C FUND COMMITMENT FORM SCHEDULE A Commitment No. Effective Date 1952582 April 4, 1994 @ 5:00 PM 1. Policy or Policies Proposed Amount to be issued of Insurance OWNER IS Proposed Insured: MORTGAGEE: Proposed Insured: $350,000.00 MONROE COUNTY BOARD COMMISSIONERS Agent File Reference 9028.030(3) OF COUNTY 2. The estate or interest in the land described or referred to in this commitment is a fee simple (if other, specify same) and title thereto is at the effective date hereof vested in: MANGIL, INC., a Florida corporation 3. The land referred to in this commitment is described as follows: Lots 31-32, Block 2, HIBISCUS PARR, according to the Plat thereof recorded in Plat Book 3, page 166, Public Records of Monroe County, Florida and Lots 15-21, Block 4, INDUSTRIAL ACRES, according to the Plat thereof recorded in Plat Book 5, Page 15, Public Records of Monroe County, Florida ISSUED Y LAWYE LAND I L CO. 750 S. 3 d Ft. L 1 , 33316 16159 FUND COMMITMENT FORM SCHEDULE B Commitment No.:1952582 I. 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 to be executed by Mangil, Inc., a Florida corporation, to Monroe County Board of County Commissioners. b) Determination must be made that there are no unrecorded special assessments, 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 Chapter 159, F.S. or county ordinances c) Proof of payment of taxes for the year must be furnished and any tax certificates issued with respect thereto must be cancelled by the Clerk of the Court. Key No. 1993 1991 1992 Parcel Lot 1559326 $597.32 $701.44 $654.22 21 I.A. 1559318 540.02 634.19 596.41 20 I.A. 1559300 540.02 624.54 591.49 19 I.A. 1559296 243.60 295.98 276.70 18 I.A. 1559288 172.40 219.34 198.00 17 I.A. 1559270 172.48 219.34 199.56 16 Z.A. 1559261 172.48 219.34 198.00 15 I.A. 1625574 540.02 643.19 591.49 32 H.P. 1625566 956.72 1104.73 1037.71 31 H.P. *Hibiscus Park is identified as 11H.P.01 Industrial Acres is identified as "I.A." d) Proof that Mangil, Inc. is a corporation in good standing with the State of Florida and Corporate Resolution. e) Certificate of Status of Mangil, Inc. to be recorded in Public Records. f) Satisfactory evidence must be furnished establishing that the subject property does not constitute all or substantially all of the assets of MANGIL, INC., a Florida corporation. If it does, satisfactory evidence must be recorded establishing either: 1) that the sale is in the usual and regular course of the corporation's business, as provided in Sec. 607.1201, F.S.; or 2) compliance with the procedures of Sec. 607.1202, F.S. II. Schedule B of the policy or policies to be issued will contain exceptions to the following matters unless the same are disposed of to the satisfaction of The Fund: 1. 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 policy issued pursuant hereto will contain under Schedule B the standard exceptions set forth at the inside cover hereof. Any mortgagee policy will contain under Schedule B the standard exceptions 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 mechanic's liens which could take priority over the mortgage (where the liens would otherwise take priority, submission of waivers is necessary). 3. Riparian and/or littoral rights are neither guaranteed nor insured. 4. Restrictions, reservations, dedications, easements and other matters contained in the Plat of HIBISCUS PARR, recorded in Plat Book 3, page 166, Public Records of Monroe County, Florida and in the Plat of INDUSTRIAL ACRES, recorded Plat Book 5, Page 15, Public Records of Monroe County, Florida. Standard Exceptions The owner policy will be subject to the mortgage, if any, noted under item two of Section I of Schedule B hereof. All policies 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 records. Conditions and Stipulations The term "mortgage," when used herein, shall include deed of trust, trust deed, or other security instrument. 2. 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. 3. Liability of The Fund 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. 4. 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.