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Chicago Title Insurance Company - Policy 7210609-34169AMERICAN LAND TITLE ASSOCIATION OWNER'S POLICY (10.17-92) (lVlTA FZORID:9 MODIFICATIONS) Policy No. 7210609- 3 4 816 9 ' CHICAGO TITLE INSURANCE COMPANY ~• SUBJECT TO THE EXCLUSIONS FROM COVERAGE, THE EXCEPTIONS FROM COVERAGE CONTAINED IN SCHEDULE B AND THE CONDITIONS AND STIPULATION'S, CHICA(i0 TITLE INSURANCE COMPANY, a Missouri corporation, herein called the Company, insures, as of Dace. of Policy shown in Schedule A, against loss or damage, not exceeding the Amoun[ 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 tlran as stated therein; 2. Any defect in or lien or encumbrance on the title; 3. Ulunarketability of tl7e title; 4. lack of a right of acxss to and from the land. The Company will also pay the costs, attorneys' foes and expenses incurred in defense of the title, as insured, but only to the extent provided in the Conditions and Stipulations. In W:mess Wluaof, CHICAGO TITLE INSURANCE COMPA\Y has caused this policy to be signed and scaled as of the Date of Polity shown in Schedule A, the policy to become valid when cout7tusigotd by an authorized signatory. I CHICAGO TTI'LE INSURANCE COMPANY at'' ( ~ Pmaidml t ~ - /l ATIF-ST: ~r~'~'7 Secretary Reorder Form No. 527 a [Reprinted IQ+00) .91:1A Uwnet s erorrey ; i u r r•Y4 (WiN Flo.•iin M.odificarions) City o.`Miami Beach, amunicipal corporation 2. The estate or interest in the land described herein and which is covered by this policy is: Fee Simple 3. The estate or interest referred to herein is at Date of Policy vested in the insured. As evidenced by that certain Special Warranty Deed dated March 31, 2009 recorded Apri13, 2009, in Official Records Book 26815, Page 3653, Public Records of Miami-Dade County, Florida. 4. The land herein described is encumbered by the following mortgage or trust deed, and assignments: None 5. The land referred to in this policy is described as follows: City Unit in Purdy Avenue Commercial Condominium, according to the Declazation of Condominium thereof, recorded in Official Recoras Book 2681 S at Page 3667, of the Public Re:,ord of Miami-Dade County, Florida This Poticy valid only if Schedule B is attached SCHEDULE B Policy Number: 7210609-348169 This policy does not insure against loss or damage (and the Company will not pay costs, attorneys' fees or expenses) which arise by reason ofi Special Exceptions: T'he mortgage, if any, referred to in Item 4 of Schedule A, if this schedule is attached to an Owner's Policy. 1. Taxes and assessments for the year 2009 and subsequent years. 2. Matters set forth on the plat of ALTON BEACH REALTY COMPANY'S PLAT OF ISLAiv'D VIEW SUBDIVISION, as recorded in Plat Book 6, Page 115. 3. Matters set forth on the plat of ISLAND VIEW ADDITION, as recorded in Plat Book 9, Page 144. 4. Order of the City of Miami Beach Design Review Board recorded in Official Records Book 26626, Page 2828. 5. Subject to the terms and conditions set forth in that certain Conditional Use Permit recorded December 2, 2008 in Official Records Book 26669, Page 2501. NOTE: Division of Land/Lot Split Final Order recorded December 2, 2008 in Official Records Book 26669, Page 2498. 6. Sketch of Survey made by Fortiori, Leavy, Skills, lnc. dated March 17, 2009, Job No. 090217 discloses the following: A. Possible unrecorded utility rights evidenced by light pole and drog pole. B. Encroachment of building overhang onto Lot 2, Block 14A. Standard Exceptions No. 2(b) and 2(c) are hereby deleted provided that a signed, sealed survey is provided. -2- 125370 1.DOC SCHEDULE B Policy Number: 7210609-348169 7. All the covenants, conditions; restrictions, easements, assessments and possible liens, terms and other provisions of Declaration of Condominium of PURDY AVENUE COMMERCIAL CONDOMNIUM and Exlvbits thcrcto, recorded in Official Records Book 26815, Page 3667, of the Public Records of Miami-Dade County, Florida, and as further amended, including, but not limited to one or more of the following: provisions for prvate chazgcs or assessments; Dens for liquidated damages; and/or option, right of first refusal or prior approval of a future purchaser or occupant. 8. Memorandum of Agreement granting the City of Miami $each the right to purchase additional parcels recorded in OPFicial Records Book 26815, Page 3657. 9. The rights of tenants, as tenants only. NOTE: All of the recording information contained herein refers to the Public Records of Miami-Dade County, Florida, unless otherwise indicated. TEW ENAS L.L Bri 'ague, PA -3- 525370_t.DOC TIVDORSEMENT Attached to Policy t:o. 7210609-348169 Lssued by CHICAGO TITLE 1NSi1RANCE COMPANY The Company insttres the insured against loss or damage sustained by roason of. (1) The ~ilure of the unit identified in Schedule A and its common elements to be pert of a condominium within the meaning of dre cgndoeninitmn statutes of the jurisdiction in which the unit and its wnunon elemens are located. (2) The failure of the doctmtents required by the condominium statutes to comply with the requirements of said statutes to the exteartthat such faihve affects the title to the unit end its wmmon elements. (3) present violations of arty restrictive covenatar which restrict the use of the unit and its common elements and which are co~ai~d in the condominium docimtents. The restri~ve covenatds do not oontaiu aay provisions which vrill case a forfeiture or reversion of title. (4) The priority of any lien for charges and assessmetrts provided for ur the wndominium statttus and cardominivm doctmtarts over the lien of any msurad mortgage idetuified in Schedule A. (5) The fat7ure of the unit and its common elements to be ernitlad by law to br assessed for real property taxes as a separate parcel. (6) Any obligation m remove any improvements which exist at Data of Policy because of any present encrroachment or because of arty future tminteational enaoachmeat of the common elemeMS upon any unit or of any unit upon the common elements or another rani[. ('J) The failure of title by reason of a right of first refusal to pttrchase the uaait and its catnmon elements which was exercised or could have been exercised at Date of Policy. This endorsement is made a patt of the policy and is subject to all of the terms and provisions thereof and of arty prior endorsements thereto. Except w the extort expressly stated, it neither modifies any of the terms and provisions of the policy end any prior endorsements, nor does it extcad the effective date of the policy and any prior nodorsements, nor does it mcrcase the face amount thereof. DATF,D: Apn'13, 2009 CFIICAGO TITLE INSURANCE COMPANY OFIK',AtiO TITLE iNl3tIRANCE OpMpANY ~ 11 L.~ P/eebsM A ' ~ Signatory ~ mr Note: Tftis endorsement sha11 not be valid or binding ~uy{/ ~! (/~~ anti! signed by an authorized signatory. I"' - yy~My,o' ALTA F.ndnrsetrrent Form 4 - Condonamitmr 1987 CLTA Form 115.1 {3!13/87} (Condominium) (6/1/87) FLORIDA FORM 8.1 ENVIRONMENTAL LIEN ENDORSEMENT Attached to and forming a part of Policy No. 7210609-348169 Issued by CHICAGO'1TTLE INSU12At~iCE COMPAN'X The Company insures the Iasured against loss or damage sustained by reason of the lack of priority of the lien of the insured mortgage over: (a) any environmental protection lien which, at Date of Policy, is recorded in those 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, or filed in the records of the cletk of the United States district court for the district in which the land is located, except as set forth, if at all, in Schedule B; or (b) any environmental protection lien provided for by any state statute in effect at Date of Policy, except environmental protection liens provided for by the following state statute(s): This Endorsement is made a part of the policy and is subject to all of the terms and pro~zsion thereof and of any prior endorsements thereto. Except to the extent expressiy stated, it neither modifies any of the terms and provisions of the policy and any prior endorsemerns, nor does it extend the effective date of the policy and any prior endorsements, nor does it increase the face amount of insurance. DA1T:D: Apti13, 2009 CEIICAGO TITLE IN E COMPANY iguatnty Note.• ThLr endorsement shall nat be valid or binding until signed by an authorized signatory.