HomeMy WebLinkAboutChaos Bldg/Warranty Deed and Title Insurance clnc`�s
Parcel No.
WARRANTY DEED
This Indenture Witnesseth, That OLD TOWN PROPERTIES, LLC, an
Indiana limited liability company, ("Grantor") of Hamilton County, in the State of
Indiana,
Conveys and Warrants to THE CITY OF CARMEL REDEVELOPMENT
COMMISSION, ("Grantee") of Hamilton County, in the State of Indiana, for the sum of
One Dollar ($1.00) and other valuable consideration, the receipt and sufficiency of which
is hereby acknowledged, the following described real estate in Hamilton County, in the
State of Indiana:
PART OF LOT NUMBER 15 IN WARREN AND PHELPS ADDITION TO
BETHLEHEM, NOW CARMEL, HAMILTON COUNTY, INDIANA, AS
PER PLAT THEREOF,RECORDED IN DEED RECORD H,PAGE 258 IN
THE OFFICE OF THE RECORDER OF HAMILTON COUNTY,
INDIANA,DESCRIBED AS FOLLOWS,.TO-WIT:
BEGIN 2 'A FEET EAST OF THE NORTHWEST CORNER OF SAID
LOT AND RUN THENCE SOUTH 132 FEET; THENCE EAST 28 FEET;
THENCE NORTH 132 FEET; THENCE WEST 28 FEET TO THE PLACE
OF BEGINNING.
Subject To those matters set forth on Exhibit A, attached hereto and incorporated herein.
The address of such real estate is commonly known as: 29 W. MAIN STREET,
CARMEL, INDIANA 46032.
The person executing this deed on behalf of Grantor fully has been empowered by
proper action of Grantor to execute and deliver this deed.
In Witness Whereof Grantor has executed this deed this /0--day of
NOVEMBER, 2009.
OLD TOWN PROPERTIES,LLC
By: Carmel Development, LLC, Member
By: �!
Thomas J a ira...ifir aging
Membe
ACKNOWLEDGMENT
STATE OF INDIANA
) SS:
HAMILTON COUNTY
Before me, a Notary Public in and for the said County and State, personally
appeared THOMAS J. LAZZARA as Managing Member for and on behalf of
CARMEL DEVELOPMENT, LLC, as a Member for and on behalf of OLD TOWN
PROPERTIES, LLC, who acknowledged the execution of the foregoing Warranty Deed,
and who, having been duly sworn, stated that the representations therein contained are
true.
Witness my hand and notarial seal this 10 i� • ber, 2009.
My Commission Expires: Signature /a'.:'-!_=
Printed Notary Public
Residing in County, Indiana
This instrument prepared by David J. Barker,DAVID J. BARKER,P.C, 12588 Sandstone Run, Carmel,
IN 46033 317-506-4394. I affirm, under the penalties of perjury,that I have taken reasonable care to
redact each social security number in this document,unless required by law. David J.Barker
Return and Send Tax Bills To:
The City of Carmel Redevelopment Commission-
' 'M�•3 WILLIAM B.OLSEN
One Civic Square ° Hamilton County
Carmel, Indiana 46032 iy.,e.4,y;� My Commission Expires
Attn: Les Olds
‘14..#,W June 30,2016
2
EXHIBIT A
Exceptions
VENDOR'S AFFIDAVIT
STATE OF INDIANA )
) SS:
COUNTY OF HAMILTON)
OLD TOWN PROPERTIES, LLC, an Indiana limited liability company,
being first duly sworn states that (hereinafter referred to as "Vendor") is this day
conveying to THE CITY OF CARMEL REDEVELOPMENT COMMISSION,
(hereinafter referred to as "Purchaser"), by Warranty Deed. (hereinafter referred to as
"Deed"), the following described Real Estate located in Hamilton County, Indiana:
PART OF LOT NUMBER 15 IN WARREN AND PHELPS ADDITION TO
BETHLEHEM, NOW CARMEL, HAMILTON COUNTY, INDIANA, AS
PER PLAT THEREOF, RECORDED IN DEED RECORD H, PAGE 258 IN
THE OFFICE OF THE RECORDER OF HAMILTON COUNTY,
INDIANA,DESCRIBED AS FOLLOWS,TO-WIT:
BEGIN 2 'A FEET EAST OF THE NORTHWEST CORNER OF SAID
LOT AND RUN THENCE SOUTH 132 FEET; THENCE EAST 28 FEET;
THENCE NORTH 132 FEET; THENCE WEST 28 FEET TO THE PLACE
OF BEGINNING.
and commonly known as: 29 W. MAIN STREET, CARMEL, INDIANA 46032
(hereinafter referred to as "Real Estate").
The undersigned hereby represent that this real estate is not "property" as defined
in Indiana Code 13-11-2-174, and is not, and has not been used, as a landfill or dump,
and contains no underground storage tanks or toxic or hazardous waste or materials, and
that no disclosure statement under Indiana Code 13-25-3-1, et. seq. (Indiana Responsible
Property Transfer Law), is required for this transaction.
In connection with the sale of Real Estate, Vendor has furnished Purchaser with a
commitment for an owner's policy of title insurance for the Real Estate under date of
August 3, 2009 issued by Hamilton Title Security, LLC as agent for Commonwealth
Land Title Insurance Company, as number 2090364.
Vendor has an indefeasible estate in fee simple in the Real Estate; and the Real
Estate is free and clear of every kind of description lien, lease or encumbrance except the
following:
1. Easements, agreements and restrictions of record disclosed in said
commitment.
2. Current taxes not delinquent.
3. Whatever matters affecting the Real Estate, if any, disclosed in the Deed.
Vendor has not executed, or permitted anyone in Vendor's behalf to execute, any
conveyance, mortgage, lien, lease, security agreement, financing statement or
encumbrance of or upon the Real Estate or any fixtures attached thereto, except as stated
above, which is now outstanding or enforceable against the Real Estate. Vendor has
made no contract to sell all or a part of the Real Estate to any person other than the
Purchaser, and Vendor has not given to any person an option to purchase all or any part
of the Real Estate, which is enforceable or exercisable now or at any time in the future.
There are no unpaid claims for labor done upon or materials furnished for the Real Estate
in respect of which liens have been or may be filed. The improvements upon the Real
Estate are all located entirely within the bounds of the Real Estate, and there are no
encroachments thereon. There are no existing violations of zoning ordinances or other
restrictions applicable to the Real Estate.
There is no judgment of any court of the State of Indiana or of any court of the
United States that is or may become a lien on the Real Estate. No petition for bankruptcy
has been filed by or against Vendor within the last six months, nor is any petition now
pending with respect to Vendor for bankruptcy, insolvency or incompetency. Vendor is
neither principal nor surety on any bond payable to the State of Indiana.
The Real Estate is now in the possession of OLD TOWN PROPERTIES,
LLC, an Indiana limited liability company, as owners and no other person has a right
to possession or claims possession of all or any part of the Real Estate. Xendor will
deliver possession of Real Estate to Purchaser on or before NOVEMBER/0, 2009, free
and clear of any right or claim of any person to the possession of the Real Estate except
NONE.
Vendor is not acting, directly or indirectly, in any capacity whatsoever for any
foreign country or national thereof, and Vendor is a limited liability company duly
organized and in good standing under the laws of Indiana and the persons executing this
affidavit and the Deed on behalf of Vendor are duly elected officers of Vendor and have
been fully empowered by proper resolution of the Board of Directors of Vendor to
execute and deliver this affidavit and the Deed; and Vendor has full corporate capacity to
convey the real estate described herein and all necessary corporate action for the making
of such conveyance has been taken and done.
Vendor intends that each of the statements made herein shall be construed as a
representation; each of the representations is made for the purpose of inducing Purchaser
to purchase the Real Estate; and each of the representations, whether construed jointly or
severally, is true. Vendor expressly authorizes Purchaser and all other persons to rely on
such representations.
2
OLD TOWN PROPERTIES, LLC
By: Carmel De elopment, LLC, Member
By:
Thomas . / .77,e aging
Membe
ACKNOWLEDGMENT
STATE OF INDIANA
) SS:
HAMILTON COUNTY
Before me, a Notary Public in and for the said County and State, personally
appeared THOMAS J. LAZZARA as Managing Member for and on behalf of
CARMEL DEVELOPMENT, LLC, as a Member for and on behalf of OLD TOWN
PROPERTIES, LLC, who acknowledged the execution of the foregoing Vendor's
Affidavit, and who, having been duly sworn, stated that the representations therein
contained are true.
Witness my hand and notarial seal this lU y .� •. -1 b• 2009.
►--�
My Commission Expires: Signature -•■■G■�:f
Printed Nota • Public
Residing in County, Indiana
.::t. "". ;.,, WILLIAM B.OLSEN
:
` N`nmi • Hamilton County
?,GE :•; My Commission Expires
• ar Juno 30:2016
3
•
a9-(� qQ-�ktof5 � M2.‘.5
CAc-o S
Hamilton Title Security, LLC
865 W. Carmel Drive, Ste. 110, Carmel, Indiana 46032 *** (317) 843-5300
June 23, 2010 Agent' s Reference: 2090364
City of Carmel Redevelopment Commission
•
c/o Wallack, Somers, and Haas
Attn: Ryan Wilmering
One Indiana Square, Suite 1500
Indianapolis, IN 46204
Dear Mr. Wilmering,
Enclosed please find the final owner' s title policy for the equitable interest of 29 and 37 W. Main Street
in Carmel. There may be an additional charge for the issuance of a duplicate policy. Also, enclosed
please find the Memorandum of Land Sale Contract and copies of the Mortgage and Assignment of Land
Sale Contract which we have recorded in the Office of the Recorder of Hamilton County, Indiana.
Thank you for coming to Hamilton Title Security, LLC. We welcome your call at (317) 843-5300 if you
have any questions about your policy or the coverage it provides.
Respectfully,
Karen A. Rutledge
Title Officer
Questions regarding your policy or coverage should be directed to:
Hamilton Title Security LLC
Contact number (317)843-5300
If you(a) need the assistance of the governmental agency that regulates insurance; or(b)have a complaint you have
been unable to resolve with your insurer you may contact the Department of Insurance by mail, telephone or email:
State of Indiana Department of Insurance
Consumer Services Division
311 West Washington Street, Suite 300
Indianapolis, Indiana 46204
Consumer Hotline: (800) 622-4461;(317) 232-2395
Complaints can be filed electronically at www.in.gov/idoi.
r Commonwealth
Policy No.: 1N0055-8]-2090364-2010.81306-80959908
OWNER'S POLICY OF TITLE INSURANCE
Issued by
Commonwealth Land Title Insurance Company
Any notice of claim and any other notice or statement in writing required to be given to the Company under this Policy must be given to the
Company at the address shown in Section 18 of the Conditions.
COVERED RISKS
SUBJECT TO THE EXCLUSIONS FROM COVERAGE, THE EXCEPTIONS FROM COVERAGE CONTAINED IN SCHEDULE B, AND THE
CONDITIONS, COMMONWEALTH LAND TITLE INSURANCE COMPANY,a Nebraska corporation(the"Company")insures,as of Date of Policy and,
to the extent stated in Covered Risks 9 and 10, after Date of Policy, against loss or damage, not exceeding the Amount of Insurance, sustained or
incurred by the Insured by reason of:
1. Title being vested other than as stated in Schedule A.
2. Any defect in or lien or encumbrance on the Title. This Covered Risk includes but is not limited to insurance against loss from
(a) A defect in the Title caused by
(i) forgery,fraud,undue influence,duress,incompetency,incapacity,or impersonation;
(ii) failure of any person or Entity to have authorized a transfer or conveyance;
(iii) a document affecting Title not properly created,executed,witnessed,sealed,acknowledged,notarized,or delivered;
(iv) failure to perform those acts necessary to create a document by electronic means authorized by law;
(v) a document executed under a falsified,expired,or otherwise invalid power of attorney;
(vi) a document not properly filed,recorded,or indexed in the Public Records including failure to perform those acts by electronic means
authorized by law;or
(vii) a defective judicial or administrative proceeding.
(b) The lien of real estate taxes or assessments imposed on the Title by a governmental authority due or payable,but unpaid.
(c) Any encroachment,encumbrance,violation,variation,or adverse circumstance affecting the Title that would be disclosed by an accurate
and complete land survey of the Land. The term"encroachment"includes encroachments of existing improvements located on the Land
onto adjoining land,and encroachments onto the Land of existing improvements located on adjoining land.
3. Unmarketable Title.
4. No right of access to and from the Land.
5. The violation or enforcement of any law,ordinance,permit,or governmental regulation(including those relating to building and zoning)restricting,
regulating,prohibiting,or relating to
(a) the occupancy,use,or enjoyment of the Land;
(b) the character,dimensions,or location of any improvement erected on the Land;
(c) the subdivision of land;or
(d) environmental protection
if a notice,describing any part of the Land,is recorded in the Public Records setting forth the violation or intention to enforce,but only to the
extent of the violation or enforcement referred to in that notice.
6. An enforcement action based on the exercise of a governmental police power not covered by Covered Risk 5 if a notice of the enforcement action,
describing any part of the Land,is recorded in the Public Records,but only to the extent of the enforcement referred to in that notice.
7. The exercise of the rights of eminent domain if a notice of the exercise,describing any part of the Land,is recorded in the Public Records.
8. Any taking by a governmental body that has occurred and is binding on the rights of a purchaser for value without Knowledge.
9. Title being vested other than as stated in Schedule A or being defective
(a) as a result of the avoidance in whole or in part,or from a court order providing an alternative remedy,of a transfer of all or any part of the
title to or any interest in the Land occurring prior to the transaction vesting Title as shown in Schedule A because that prior transfer
constituted a fraudulent or preferential transfer under federal bankruptcy,state insolvency,or similar creditors'rights laws;or
(b) because the instrument of transfer vesting Title as shown in Schedule A constitutes a preferential transfer under federal bankruptcy,state
insolvency,or similar creditors'rights laws by reason of the failure of its recording in the Public Records
(i) to be timely,or
(ii) to impart notice of its existence to a purchaser for value or to a judgment or lien creditor.
10. Any defect in or lien or encumbrance on the Title or other matter included in Covered Risks 1 through 9 that has been created or attached or has
been filed or recorded in the Public Records subsequent to Date of Policy and prior to the recording of the deed or other instrument of transfer in
the Public Records that vests Title as shown in Schedule A.
The Company will also pay the costs, attorneys'fees, and expenses incurred in defense of any matter insured against by this Policy, but only to the
extent provided in the Conditions.
IN WITNESS WHEREOF,the Company has caused this Policy to be signed with the facsimile signatures of its President and Secretary and sealed as
required by its By-Laws.
r ■+1(--Srte_/ COMMONWEALTH LAND TITLE INSURANCE E.OMPANY
�
nmu u,
Authorized Signatory ,. 4741/UI�,L_
Karen A. Rutledge If SEAL
�rncr
INOOSS 2090364
Hamilton Title Security LLC
865 W Carmel Dr
Carmel , IN 46032
Tel:(317) 843-5300
Fax:(317) 843-5429
Form 81306 Dbl Cover—ALTA Owner's Policy(06/17/06)
Reorder 1190-127 NJRB 1-15 Effective: 2/15/07 Revised: 9/10/07
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 that arise by reason of:
1, (a) Any law,ordinance,permit,or governmental regulation(including those relating to building and zoning)restricting,regulating,prohibiting,
or relating to
(i) the occupancy,use,or enjoyment of the Land;
(ii) the character,dimensions,or location of any improvement erected on the Land;
(iii) the subdivision of land;or
(iv) environmental protection;
or the effect of any violation of these laws, ordinances, or governmental regulations. This Exclusion 1(a) does not modify or limit the
coverage provided under Covered Risk 5.
(b) Any governmentalpolice power. This Exclusion 1(b)does not modify or limit the coverage provided under Covered Risk 6.
2. Rights of eminent domain. This Exclusion does not modify or limit the coverage provided under Covered Risk 7 or 8.
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(however,this does not modify or limit the coverage provided under Covered Risk 9
and 10);or
(e) resulting in loss or damage that would not have been sustained if the Insured Claimant had paid value for the Title.
4. Any claim,by reason of the operation of federal bankruptcy,state insolvency,or similar creditors'rights laws,that the transaction vesting the Title
as shown in Schedule A,is
(a) a fraudulent conveyance or fraudulent transfer;or
(b) a preferential transfer for any reason not stated in Covered Risk 9 of this policy.
5. Any lien on the Title for real estate taxes or assessments imposed by governmental authority and created or attaching between Date of Policy and
the date of recording of the deed or other instrument of transfer in the Public Records that vests Title as shown in Schedule A.
CONDITIONS
1. DEFINITION OF TERMS improvements that by law constitute real property. The term "Land"
The following terms when used in this policy mean: does not include any property beyond the lines of the area described in
(a) "Amount of Insurance": The amount stated in Schedule Schedule A,nor any right,title,interest,estate,or easement in abutting
A, as may be increased or decreased by endorsement to this policy, streets, roads, avenues, alleys, lanes, ways, or waterways, but this
increased by Section 8(b).or decreased by Sections 10 and 11 of these does not modify or limit the extent that a right of access to and from the
Conditions. Land is insured by this policy.
(b) "Date of Policy": The date designated as "Date of (h) "Mortgage": Mortgage,deed of trust,trust deed,or other
Policy"-in Schedule A. security instrument, including one evidenced by electronic means
(c) "Entity": A corporation, partnership,trust, limited liability authorized by law.
company,or other similar legal entity. (i) "Public Records": Records established under state
(d) "Insured": The Insured named in Schedule A. statutes at Date of Policy for the purpose of imparting constructive
(i) The term"Insured"also includes notice of matters relating to real property to purchasers for value and
(A) successors to the Title of the Insured by without Knowledge. With respect to Covered Risk 5(d), "Public
operation of law as distinguished from purchase, including heirs, Records" shall also include environmental protection liens filed in the
devisees,survivors,personal representatives,or next of kin; records of the clerk of the United States District Court for the district
(B) successors to an Insured by dissolution, where the Land is located.
merger,consolidation,distribution,or reorganization; (j) 'Title": The estate or interest described in Schedule A.
(C) successors to an Insured by its conversion to (k) "Unmarketable Title": Title affected by an alleged or
another kind of Entity; apparent matter that would permit a prospective purchaser or lessee of
(D) a grantee of an Insured under a deed the Title or lender on the Title to be released from the obligation to
delivered without payment of actual valuable consideration conveying purchase,lease,or lend if there is a contractual condition requiring the
the Title delivery of marketable title.
(1) if the stock, shares, memberships, or 2. CONTINUATION OF INSURANCE
other equity interests of the grantee are wholly-owned by the named The coverage of this policy shall continue in force as of Date of Policy in
Insured, favor of an Insured,but only so long as the Insured retains an estate or
(2) if the grantee wholly owns the named interest in the Land, or holds an obligation secured by a purchase
Insured, money Mortgage given by a purchaser from the Insured,or only so long
(3) if the grantee is wholly-owned by an as the Insured shall have liability by reason of warranties in any transfer
affiliated Entity of the named Insured, provided the affiliated Entity and or conveyance of the Title. This policy shall not continue in force in
the named Insured are both wholly-owned by the same person or Entity, favor of any purchaser from the Insured of either(i)an estate or interest
or in the Land,or(ii)an obligation secured by a purchase money Mortgage
(4) if the grantee is a trustee or beneficiary given to the Insured.
of a trust created by a written instrument established by the Insured 3. NOTICE OF CLAIM TO BE GIVEN BY INSURED CLAIMANT
named in Schedule A for estate planning purposes. The Insured shall notify the Company promptly in writing (i) in case of
(ii) With regard to (A), (B), (C), and (D) reserving, any litigation as set forth in Section 5(a)of these Conditions,(ii)in case
however,all rights and defenses as to any successor that the Company Knowledge shall come to an Insured hereunder of any claim of title or
would have had against any predecessor Insured. interest that is adverse to the Title, as insured, and that might cause
(e) "Insured Claimant": An Insured claiming loss or loss or damage for which the Company may be liable by virtue of this
damage. policy,or(iii)if the Title,as insured,is rejected as Unmarketable Title. If
(f) "Knowledge" or "Known": Actual knowledge, not the Company is prejudiced by the failure of the Insured Claimant to
constructive knowledge or notice that may be imputed to an Insured by provide prompt notice, the Company's liability to the Insured Claimant
reason of the Public Records or any other records that impart under the policy shall be reduced to the extent of the prejudice.
constructive notice of matters affecting the Title. 4- PROOF OF LOSS
In the event the Company is unable to determine the amount of loss or
(g) "Land": The land described in Schedule A, and affixed
Form 81306 Dbl Cover—ALTA Owner's Policy(06/17/06)
Reorder 1190-127 NJRB 1-15 Effective: 2/15/07 Revised: 9/10/07
•
damage, the Company may, at its option, require as a condition of unless prohibited by law or governmental regulation,shall terminate any
payment that the Insured Claimant furnish a signed proof of loss. The liability of the Company under this policy as to that claim.
proof of loss must describe the defect, lien, encumbrance, or other 7. OPTIONS TO PAY OR OTHERWISE SETTLE CLAIMS;
matter insured against by this policy that constitutes the basis of loss or TERMINATION OF LIABILITY
damage and shall state,to the extent possible,the basis of calculating In case of a claim under this policy, the Company shall have the
the amount of the loss or damage. following additional options:
5. DEFENSE AND PROSECUTION OF ACTIONS (a) To Pay or Tender Payment of the Amount of Insurance.
(a) Upon written request by the Insured,and subject to the To pay or tender payment of the Amount of Insurance under this policy
options contained in Section 7 of these Conditions,the Company,at its together with any costs.attorneys'fees,and expenses incurred by the
own cost and without unreasonable delay,shall provide for the defense Insured Claimant that were authorized by the Company up to the time
of an Insured in litigation in which any third party asserts a claim of payment or tender of payment and that the Company is obligated to
covered by this policy adverse to the Insured. This obligation is limited pay.
to only those stated causes of action alleging matters insured against by Upon the exercise by the Company of this option, all liability and
this policy. The Company shall have the right to select counsel of its obligations of the Company to the Insured under this policy,other than
choice (subject to the right of the Insured to object for reasonable to make the payment required in this subsection, shall terminate,
cause)to represent the Insured as to those stated causes of action. It including any liability or obligation to defend,prosecute,or continue any
shall not be liable for and will not pay the fees of any other counsel. litigation.
The Company will not pay any fees,costs,or expenses incurred by the (b) To Pay or Otherwise Settle With Parties Other Than the
Insured in the defense of those causes of action that allege matters not Insured or With the Insured Claimant.
insured against by this policy. (i) To pay or otherwise settle with other parties for or in
(b) The Company shall have the right, in addition to the the name of an Insured Claimant any claim insured against under this
options contained in Section 7 of these Conditions, at its own cost, to policy. In addition,the Company will pay any costs,attorneys'fees,and
institute and prosecute any action or proceeding or to do any other act expenses incurred by the Insured Claimant that were authorized by the
that in its opinion may be necessary or desirable to establish the Title, Company up to the time of payment and that the Company is obligated
as insured,or to prevent or reduce loss or damage to the Insured. The to pay;or
Company may take any appropriate action under the terms of this (ii) To pay or otherwise settle with the Insured Claimant
policy,whether or not it shall be liable to the Insured. The exercise of the loss or damage provided for under this policy, together with any
these rights shall not be an admission of liability or waiver of any costs, attorneys'fees, and expenses incurred by the Insured Claimant
provision of this policy. If the Company exercises its rights under this that were authorized by the Company up to the time of payment and
subsection,it must do so diligently. that the Company is obligated to pay.
(c) Whenever the Company brings an action or asserts a Upon the exercise by the Company of either of the options provided for
defense as required or permitted by this policy, the Company may in subsections (b)(i) or (ii), the Company's obligations to the Insured
pursue the litigation to a final determination by a court of competent under this policy for the claimed loss or damage, other than the
jurisdiction, and it expressly reserves the right, in its sole discretion,to payments required to be made,shall terminate,including any liability or
appeal any adverse judgment or order. obligation to defend,prosecute,or continue any litigation.
6. DUTY OF INSURED CLAIMANT TO COOPERATE 8. DETERMINATION AND EXTENT OF LIABILITY
(a) In all cases where this policy permits or requires the
Company to prosecute or provide for the defense of any action or This policy is a contract of indemnity against actual monetary loss or
proceeding and any appeals,the Insured shall secure to the Company damage sustained or incurred by the Insured Claimant who has
the right to so prosecute or provide defense in the action or proceeding, suffered loss or damage by reason of matters insured against by this
including the right to use,at its option,the name of the Insured for this policy.
purpose. Whenever requested by the Company, the Insured, at the (a) The extent of liability of the Company for loss or damage
Company's expense, shall give the Company all reasonable aid (i) in under this policy shall not exceed the lesser of
securing evidence, obtaining witnesses, prosecuting or defending the (i) the Amount of Insurance;or
action or proceeding,or effecting settlement,and (ii)in any other lawful (ii) the difference between the value of the Title as
act that in the opinion of the Company may be necessary or desirable to insured and the value of the Title subject to the risk insured against by
establish the Title or any other matter as insured. If the Company is this policy.
prejudiced by the failure of the Insured to furnish the required (b) If the Company pursues its rights under Section 5 of these
cooperation,the Company's obligations to the Insured under the policy Conditions and is unsuccessful in establishing the Title,as insured,
shall terminate,including any liability or obligation to defend,prosecute, (i) the Amount of Insurance shall be increased by 10%.
or continue any litigation,with regard to the matter or matters requiring and
such cooperation. (ii) the Insured Claimant shall have the right to have the
(b) The Company may reasonably require the Insured loss or damage determined either as of the date the claim was made by
Claimant to submit to examination under oath by any authorized the Insured Claimant or as of the date it is settled and paid.
representative of the Company and to produce for examination, (c) In addition to the extent of liability under(a)and (b),the
inspection, and copying, at such reasonable times and places as may Company will also pay those costs, attorneys' fees, and expenses
be designated by the authorized representative of the Company, all incurred in accordance with Sections 5 and 7 of these Conditions.
records, in whatever medium maintained, including books, ledgers, 9. LIMITATION OF LIABILITY
checks, memoranda, correspondence, reports, e-mails, disks, tapes, (a) If the Company establishes the Title, or removes the
and videos whether bearing a date before or after Date of Policy, that alleged defect, lien, or encumbrance, or cures the lack of a right of
reasonably pertain to the loss or damage. Further, if requested by any access to or from the Land,or cures the claim of Unmarketable Title,all
authorized representative of the Company, the Insured Claimant shall as insured, in a reasonably diligent manner by any method, including
grant its permission,in writing,for any authorized representative of the litigation and the completion of any appeals,it shall have fully performed
Company to examine, inspect, and copy all of these records in the its obligations with respect to that matter and shall not be liable for any
custody or control of a third party that reasonably pertain to the loss or loss or damage caused to the Insured.
damage. All information designated as confidential by the Insured (b) In the event of any litigation, including litigation by the
Claimant provided to the Company pursuant to this Section shall not be Company or with the Company's consent,the Company shall have no
disclosed to others unless,in the reasonable judgment of the Company, liability for loss or damage until there has been a final determination by
it is necessary in the administration of the claim. Failure of the Insured a court of competent jurisdiction,and disposition of all appeals,adverse
Claimant to submit for examination under oath,produce any reasonably to the Title,as insured.
requested information, or grant permission to secure reasonably (c) The Company shall not be liable for loss or damage to the
necessary information from third parties as required in this subsection, Insured for liability voluntarily assumed by the Insured in settling any
claim or suit without the prior written consent of the Company.
Form 81306 Dbl Cover—ALTA Owner's Policy(06/17/06)
Reorder 1190-127 NJRB 1-15 Effective: 2/15/07 Revised: 9/10/07
All arbitrable matters when the Amount of Insurance is in excess of
$2,000,000 shall be arbitrated only when agreed to by both the
10. REDUCTION OF INSURANCE; REDUCTION OR TERMINATION Company and the Insured.
OF LIABILITY Arbitration pursuant to this policy and under the Rules shall be binding
All payments under this policy,except payments made for costs, upon the parties. Judgment upon the award rendered by the
attorneys'fees,and expenses,shall reduce the Amount of Insurance by Arbitrator(s)may be entered in any court of competent jurisdiction.
the amount of the payment. 15.LIABILITY LIMITED TO THIS POLICY; POLICY ENTIRE
11. LIABILITY NONCUMULATIVE CONTRACT
The Amount of Insurance shall be reduced by any amount the Company (a) This policy together with all endorsements, if any,
pays under any policy insuring a Mortgage to which exception is taken attached to it by the Company is the entire policy and contract between
in Schedule B or to which the Insured has agreed, assumed, or taken the Insured and the Company. In interpreting any provision of this
subject, or which is executed by an Insured after Date of Policy and policy,this policy shall be construed as a whole.
which is a charge or lien on the Title,and the amount so paid shall be (b) Any claim of loss or damage that arises out of the status
deemed a payment to the Insured under this policy. of the Title or by any action asserting such claim shall be restricted to
12. PAYMENT OF LOSS this policy.
When liability and the extent of loss or damage have been definitely (c) Any amendment of or endorsement to this policy must be
fixed in accordance with these Conditions,the payment shall be made in writing and authenticated by an authorized person, or expressly
within 30 days. incorporated by Schedule A of this policy.
13.RIGHTS OF RECOVERY UPON PAYMENT OR SETTLEMENT (d) Each endorsement to this policy issued at any time is
(a) Whenever the Company shall have settled and paid a made a part of this policy and is subject to all of its terms and
claim under this policy, it shall be subrogated and entitled to the rights provisions. Except as the endorsement expressly states,it does not(i)
of the Insured Claimant in the Title and all other rights and remedies in modify any of the terms and provisions of the policy,(ii)modify any prior
respect to the claim that the Insured Claimant has against any person or endorsement,(iii)extend the Date of Policy,or(iv)increase the Amount
property,to the extent of the amount of any loss,costs,attorneys'fees, of Insurance.
and expenses paid by the Company. If requested by the Company,the 16.SEVERABILITY
Insured Claimant shall execute documents to evidence the transfer to In the event any provision of this policy, in whole or in part, is held
the Company of these rights and remedies. The Insured Claimant shall invalid or unenforceable under applicable law, the policy shall be
permit the Company to sue, compromise, or settle in the name of the deemed not to include that provision or such part held to be invalid,but
Insured Claimant and to use the name of the Insured Claimant in any all other provisions shall remain in full force and effect.
transaction or litigation involving these rights and remedies. 17.CHOICE OF LAW;FORUM
If a payment on account of a claim does not fully cover the loss of the (a) Choice of Law: The Insured acknowledges the Company
Insured Claimant, the Company shall defer the exercise of its right to has underwritten the risks covered by this policy and determined the
recover until after the Insured Claimant shall have recovered its loss. premium charged therefor in reliance upon the law affecting interests in
(b) The Company's right of subrogation includes the rights real property and applicable to the interpretation, rights, remedies, or
of the Insured to indemnities,guaranties,other policies of insurance,or enforcement of policies of title insurance of the jurisdiction where the
bonds, notwithstanding any terms or conditions contained in those Land is located.
instruments that address subrogation rights. Therefore,the court or an arbitrator shall apply the law of the jurisdiction
14.ARBITRATION where the Land is located to determine the validity of claims against the
Either the Company or the Insured may demand that the claim or Title that are adverse to the Insured and to interpret and enforce the
controversy shall be submitted to arbitration pursuant to the Title terms of this policy. In neither case shall the court or arbitrator apply its
Insurance Arbitration Rules of the American Land Title Association conflicts of law principles to determine the applicable law.
("Rules"). Except as provided in the Rules,there shall be no joinder (b) Choice of Forum: Any litigation or other proceeding
or consolidation with claims or controversies of other persons. brought by the Insured against the Company must be filed only in a
Arbitrable matters may include,but are not limited to,any controversy or state or federal court within the United States of America or its territories
claim between the Company and the Insured arising out of or relating to having appropriate jurisdiction.
this policy,any service in connection with its issuance or the breach of a 18.NOTICES,WHERE SENT
policy provision, or to any other controversy or claim arising out of the Any notice of claim and any other notice or statement in writing required
transaction giving rise to this to be given to the Company under this Policy must be given to the
policy. Company at: P.O.Box 45023,Jacksonville,FL 32232-5023.
All arbitrable matters when the Amount of Insurance is $2,000,000 or
less shall be arbitrated at the option of either the Company or the
Insured.
Form 81306 Dbl Cover—ALTA Owner's Policy(06/17/06)
Reorder 1190-127 NJRB 1-15 Effective: 2/15/07 Revised: 9/10/07
ALTA OWNER'S POLICY(6/17/06)
File No.: 2090364 Policy No: C-81306-80959908
SCHEDULE A
File No.: 2090364 Policy No.: C-81306-80959908
Address Reference: 29 and 37 W. Main Street Carmel Indiana
Amount of Insurance: $380,000.00 Date of Policy: February 16,2010
1. Name of Insured:
The City of Carmel Redevelopment Commission, as contract purchaser
2. The estate or interest in the land which is covered by this Policy is:
Equitable Interest under Land Sale Contract
3. Title is vested in:
The City of Carmel Redevelopment Commission, Equitable Interest under Land Sale Contract as
evidenced by Memorandum of Land Sale Contract by and between Old Town Properties, LLC and
The City of Carmel Redevelopment Commission dated November 10, 2009 and recorded February
16, 2010 as Instrument No.2010006847 in the Office of the Recorder of Hamilton County, Indiana.
4. The Land herein described is encumbered by the following mortgage or trust deed, and
assignments, and any shown on Schedule B:
Mortgage for $300,000.00 from Old Town Properties, LLC to First Merchants Bank, National
Association dated November 10, 2009 and recorded February 16, 2010 as Instrument No.
2010006846 in the Office of the Recorder of Hamilton County, Indiana.
5. The Land referred to in this policy is described as follows:
Part of Lot Number I5 in Warren and Phelps Addition to Bethlehem, now Carmel, Hamilton County,
Indiana, as per plat thereof; recorded in Deed Record Fl, page 258 in the Office of the Recorder of
Hamilton County, Indiana, described as follows, to-wit:
Begin 2 1/2 feet East of the Northwest corner of said Lot and run thence South 132 feet; thence East
28 feet; thence North 132 feet; thence West 28 feet to the place of beginning
File No.: 2090364
0015CG
Page 1 of 2
ALTA OWNER'S POLICY(6/17/06)
File No.: 2090364 Policy No: C-81306-80959908
EXCEPTIONS FROM COVERAGE
This policy does not insure against loss or damage (and the Company will not pay costs, attorneys' fees
or expenses) that arise by reason of:
1. Taxes for 2009, payable 2010, not yet due and payable.
2. Possible municipal assessments, sewer use charges, and/or impact fees levied by City of Carmel.
None due at this time.
3. Easements for drainage ditches and tile drains.
4. Easement, restrictions, possible assessments for maintenance, and rights of others entitled to the
continued uninterrupted flow of water through the Morrow-Follett Legal Drain, in accordance with
Indiana Drain Code, IC (1981) 36-9-27-33 et seq.
5. Subject to ajudgment search against the proposed insured.
6. Terms and Conditions of Land Sale Contact as evidenced by Memorandum of Land Sale Contract
executed by and between Old Town Properties, LLC and The City of Carmel Redevelopment
• Commission dated November 10, 2009 and recorded February 16, 2010 as Instrument No.
2010006847 in the Office of the Recorder of Hamilton County, Indiana.
7. Assignment of Land Sale Contract by and between Old Town Properties, LLC and First Merchants
Bank, National Association dated November 10, 2009 and recorded February 16, 2010 as Instrument
No. 2010006848 in the Office of the Recorder of Hamilton County, Indiana.
End of Schedule B
Questions regarding your policy or coverage should be directed to:
Hamilton Title Security LLC
Contact number (317)843-5300
if you(a)need the assistance of the governmental agency that regulates insurance;or(b)have a complaint you have been unable
to resolve with your insurer you may contact the Department of Insurance by mail,telephone or email:
State of Indiana Department of Insurance
Consumer Services Division
311 West Washington Street,Suite 300
Indianapolis, Indiana 46204
Consumer Hotline:(800)622-4461;(317)232-2395
Complaints can be filed electronically at www.in.gov/idol.
File No.: 2090364
0015CG
Page 2 of 2
ALTA Form 17-06(Access and Entry)
ENDORSEMENT
ATTACHED TO POLICY NUMBER 81306-80959908
ISSUED BY
COMMONWEALTH LAND TITLE INSURANCE COMPANY
File No.: 2090364
The Company insures against loss or damage sustained by the Insured if, at Date of Policy (i) the Land does not
abut and have both actual vehicular and pedestrian access to and from Main Street and a ten foot platted alley
(the "Streets"), (ii) the Streets are not physically open and publicly maintained, or (iii) the Insured has no right
to use existing curb cuts or entries along that portion of the Streets abutting the Land.
This endorsement is issued as part of the policy. Except as it expressly states, it does not (i) modify any of the
terms and provisions of the policy, (ii) modify any prior endorsements, (iii) extend the Date of Policy, or (iv)
increase the Amount of Insurance. To the extent a provision of the policy or a previous endorsement is
inconsistent with an express provision of this endorsement, this endorsement controls. Othenvise, this
endorsement is subject to all of the terms and provisions of the policy and of any prior endorsements.
Signed under seal for the Company,but this endorsement is to be valid only when it bears an authorized signature.
.
Authorized Signature
Hamilton Title Security. LLC
Cannel, Indiana
File No.: 2090364
ALTA 17-06 Endorsement(6/17/06)
ALTA Form 9.2-06(Restrictions, Encroachment,Minerals—Owner's Policy—Improved Land)
ENDORSEMENT
ATTACHED TO POLICY NUMBER 81306-80959908
ISSUED BY
COMMONWEALTH LAND TITLE INSURANCE COMPANY
File No.: 2090364
The Company insures against loss or damage sustained by the Insured by reason of:
I. The existence,at Date of Policy,of any of the following unless expressly excepted in Schedule B:
a. Present violations on the Land of any enforceable covenants, conditions, or restrictions, or any existing improvements on the Land that
violate any building setback lines shown on a plat of subdivision recorded or filed in the Public Records.
b. Any instrument referred to in Schedule B as containing covenants, conditions, or restrictions on the Land that, in addition, (i) establishes
an easement on the Land, (ii) provides for an option to purchase, a right of first refusal, or the prior approval of a future purchaser or
occupant, or (iii) provides a right of reentry, possibility of reverter, or right of forfeiture because of violations on the Land of any
enforceable covenants,conditions,or restrictions.
c. Any encroachment of existing improvements located on the Land onto adjoining land, or any encroachment onto the Land of existing
improvements located on adjoining land.
d. Any encroachment of existing improvements located on the Land onto that portion of the Land subject to any easement excepted in
Schedule B.
e. Any notices of violation of covenants, conditions, or restrictions relating to environmental protection recorded or filed in the Public
Records.
2. Damage to existing buildings:
a. That are located on or encroach upon that portion of the Land subject to any easement excepted in Schedule B,which damage results from
the exercise of the right to maintain the easement for the purpose for which it was granted or reserved;
b. Resulting from the future exercise of any right existing at Date of Policy to use the surface of the Land for the extraction or development of
minerals excepted from the description of the Land or excepted in Schedule B.
3. Any final court order or judgment requiring the removal from any land adjoining the Land of any encroachment,other than fences, landscaping,
or driveways,excepted in Schedule B.
4. Any final court order or judgment denying the right to maintain any existing building on the Land because of any violation of covenants,
conditions,or restrictions,or building setback lines shown on a plat of subdivision recorded or filed in the Public Records.
File No.: 2090364
Page I of 2
ALTA 9.2-06 Restrictions, Encroachments,Minerals—Owner's Policy—Improved Land Endorsement(6/17/06)
ALTA Form 9.2-06(Restrictions,Encroachment, Minerals—Owner's Policy—Improved Land)
Wherever in this endorsement the words "covenants, conditions, or restrictions" appear, they shall not be deemed to refer to or include the terms,
covenants,conditions,or limitations contained in an instrument creating a lease.
As used in paragraphs I.a. and 4, the words "covenants, conditions, or restrictions" do not include any covenants, conditions, or restrictions (a)
relating to obligations of any type to perform maintenance, repair, or remediation on the Land, or(b) pertaining to environmental protection of any
kind or nature, including hazardous or toxic matters, conditions, or substances, except to the extent that a notice of a violation or alleged violation
affecting the Land has been recorded or filed in the Public Records at Date of Policy and is not excepted in Schedule B.
This endorsement is issued as part of the policy. Except as it expressly slates, it does not(i)modify any of the terms and provisions of the policy,(ii)
modify any prior endorsements,(iii)extend the Date of Policy,or(iv) increase the Amount of Insurance.To the extent a provision of the policy or a
previous endorsement is inconsistent with an express provision of this endorsement, this endorsement controls. Otherwise, this endorsement is
subject to all of the terms and provisions of policy and of any prior endorsements.
Signed under seal for the Company,but this endorsement is to be valid only when it bears an authorized signature.
Authorized Signature /
Hamilton'Title Security. LLC
Carmel, Indiana
File No.: 2090364
Page 2 of 2
ALTA 9.2-06 Restrictions, Encroachments, Minerals—Owner's Policy—Improved Land Endorsement(6/17/06)
Survey Endorsement Re: City of Carmel Redevelopment Commission
Agent File No. 2090364 29 W. Main Street, Carmel, IN
ENDORSEMENT
ISSUED BY
COMMONWEALTH LAND TITLE INSURANCE COMPANY
Hamilton Title Security, LLC, Agent
To be annexed to and form part of Policy No. 81306-80959908, insuring the insured, as set forth in
said policy.
The Company hereby insures the Insured against loss or damage which the Insured shall
sustain by reason of the failure of the land to be the same as that delineated on the plat of
survey made by Donald R. Mosson, Indiana Registered Land Surveyor, Central States
Consulting, LLC. Project No. 09-013, certified October 1, 2009.
This endorsement is issued as part of the policy. Except as it expressly states, it does not CO modify any
of the terms and provisions of the policy, (ii) modify any prior endorsements, (iii) extend the Date of
Policy, or (iv) increase the Amount of Insurance. To the extent a provision of the policy or a previous
endorsement is inconsistent with an express provision of this endorsement, this endorsement controls.
Otherwise, this endorsement is subject to all of the terms and provisions of the policy and of any prior
endorsements.
Dated: February 16, 2010
Commonwealth Land Title Insurance Company Ti
Title Officer
Hamilton Title Security, LLC
Hamilton Title Security, LLC
Privacy Policy Notice
PURPOSE OF THIS NOTICE
Title V of the Gramm-Leach-Bliley Act (GLBA) generally prohibits any financial institution,
directly or through its affiliates, from sharing nonpublic personal information about you with a
nonaffiliated third party unless the institution provides you with a notice of its privacy policies and
practices, such as the type of information that it collects about you and the categories of persons or
entities to whom it may be disclosed. In compliance with the GLBA, we are providing you with this
document, which notifies you of the privacy policies and practices of Hamilton Title Security,
LLC.
We may collect nonpublic personal information about you from the following sources:
• Information we receive from you such as on applications or other forms.
• Information about your transactions we secure from our files, or from [our affiliates or]
others.
• Information we receive from a consumer reporting agency.
• Information that we receive from others involved in your transaction, such as the real estate
agent or lender.
Unless it is specifically stated otherwise in an amended Privacy Policy Notice, no additional
nonpublic personal information will be collected about you.
We may disclose any of the above information that we collect about our customers or former
customers to our affiliates or to nonaffiliated third parties as permitted by law.
We also may disclose this information about our customers or former customers to nonaffiliated
companies that perform services on our behalf.
WE DO NOT DISCLOSE ANY NONPUBLIC PERSONAL INFORMATION ABOUT YOU
WITH ANYONE FOR ANY PURPOSE THAT IS NOT SPECIFICALLY PERMITTED BY
LAW.
We restrict access to nonpublic personal information about you to those employees who need to
know that information in order to provide products or services to you. We maintain physical,
electronic, and procedural safeguards that comply with federal regulations to guard your nonpublic
personal information.