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Title Ins. 10 0198 04 000423 1..'....:1 " ~! ~~j, ;"! ."J f~;1 f:~'1 ,"1 'i~ -'_:. I ~~jl ;.~.I ~::j ..,1 ;;'1 "I ~;I ',I ~;.'II 'r: .'1 ..:~ ., , .., ''fir, oi!: ;;'1 "'l ~~, ~l "'1: ..1 ~: 'j, : . ~~, -::. ,.:' :"~A..'~ .~ .:. FORMERLY AMERICAN LAND TITLE ASSOCIATION OWNER'S POliCY FORM B-1970 (Rev. 10-17-70 and 10-17-84) 10 0198 04 000423 CHICAGO TITLE INSURANCE COMPANY SUBJECT TO THE EXCLUSIONS FROM COVERAGE. THE EXCEPTIONS CONTAINED IN SCHEDULE B AND THE PROVISIONS OF THE CONDITIONS AND STIPULATIONS HEREOF, CHICAGO TITLE INSUR- ANCE 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, and costs, attorneys' fees and expenses which the Company may become obligated to pay hereunder, sustained or incurred by the insured by reason of: I. Title to the estate or interest described in Schedule A being vested otherwise than as stated therein; 2, Any defect in or lien or encumbrance on such title; U I ., :,1 ":1' ~; ] . "I ~: -~ 3, Lack of a right of access to and from the land; or 4, Unmarketability of such title, In Witness Whereof. CHICAGO TITLE INSURANCE COMPANY has caused this policy to be signed and sealed as of the date of policy shown in Schedule A, the policy to become valid when countersigned by an authorized signatory, Issued by: BROAD AND CASSEL Court House Center - #2000 175 N.W. First Avenue Miami, Florida 33128 (305) 371-9100 CHICAGO TITLE INSURANCE COMPANY By: I}-I~/ / /..4f. ~\\"''''''''..''''''~ ~ pres~ ,1E\~ By: ~tf~ IMPORTANT This policy necessarily relates solely to the title as of the date of the policy. In order that a purchaser of the real estate described herein may be insured against defects, liens or encumbrances, this policy should be reissued in the name of such purchaser. :.\\\W',: :.~wp.: I,.~;,;;.-" ".~YI',,' I,.~YI'", ".'l;jl':', , .V I.. :'lIII'; >"'I\Il'...",...,..,, "'\Vl'.,, ",.'V'", '" .11 ::. ;,;'i:. ;':::: .Ii:'::' i :\. i ' . !~ .~ ,. I," :~ .~ ,.. k ~ '~' :: ... I" {It. I'" I .~, I... ,~~ (. ..\' ;-rt: ;.~ : I:' ."i !, ''!, 'l~ . EXCLUSIONS FROM COVERAGE The following matters are expressly excluded from the coverage of this policy: 1. (a) Governmental police power. (b) Any law, ordinance or governmental regulation relating to environmental protection. (c) Any law, ordinance or governmental regulation (including but not limited to building and zoning ordinances) restricting or regulating or prohibiting the occupancy, use or enjoyment of the land, or regulating the character, dimensions or location of any improvement now or hereafter erected on the land, or prohibiting 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. (d) The effect of any violation of the maUers excluded under (a), (b) or (c) above, unless notice of a defect, lien or encumbrance resulting from a violation has been recorded at Date of Policy in those records in which under state statutes deeds, mortgages, lis pendens, liens or other title encumbrances must be recorded In order to impart con- structive notice to purchasers of the land for value and without knowledge; provided, however, that without limitation, such records shall not be construed to Include records In any of the offices of federal, state or local environmental protection, zoning, building, health or public safety authorities. 2. Rights of eminent domain unless notice of the exercise of such rights appears In the public records at Date of Policy. 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 and not shown by the public records but known to the insured claimant either at Date of Policy or at the date such claimant acquired an estate or Interest Insured by this policy and not disclosed In writing by the Insured claimant to the Company prior to the date such Insured claimant became an Insured hereunder; (c) resulting in no loss or damage to the insured claimant; or (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. SCHEDULE A OFFICE FILE NUMBER POLICY NUMBER DATE OF POLICY AMOUNT OF INSURANCE 1 2 3 4 12937-0004 10019804000423 June 8, 1994 $ 3,117,544,00 et 4:30 p.m. 1 , Name of Insured: City of Miami Beach, a Florida municipal corporation 2, The estate or interest in the land which is covered by this Policy is: Fee Simple 3, Title to the estate or interest in the land is vested in the Insured. 4, The land herein described is encumbered by the following mortgage or trust deed, and assignments: None and the mortgages or trust deeds, if any, shown in Schedule B hereof. 5, The land referred to in this Policy is described as follows: See Exhibit "A" attached hereto. SCHEDULE A Owners Form Reorder Form No. 3529 (Rev. 1/89) This Policy valid only if Schedule B is attached. R:\RE\ 12937\0004\MDSKJG07 ,25A SCHEDULE B Policy Number: 10 0198 04 000423 This policy does not insure against loss or damage (aREI tt:te C9fRpaRY 'NiII R9t pay 696t6, atterne'/6' fees or expeAses) which arise by reason of: General Exceptions: None Special Exceptions: The mortgage, if any, referred to in item 4 of Schedule A., if this schedule is attached to an Owner's Policy. (1) Any claim that any portion of said lands are sovereignty lands of the State of Florida, including submerged, filled in or artificially exposed lands and lands accreted to such lands. (2) Taxes and assessments for the year 1994 and subsequent years. (3) Restrictions, limitations and easements contained in the Plat of OCEAN BEACH FIRST ADDITION, according to the Plat thereof, recorded in Plat Book 3, at Page 11, of the Public Records of Dade County, Florida. (4) Acknowledgement and Agreement executed by James Resnick as Vice President of Leo-James, Inc. recorded June 8, 1994 in Official Records Book 16396 at Page 801, Public Records of Dade County, Florida. (5) Agreement to Grant Easements executed by the City of Miami Beach and Ballet Valet Parking Company, Ltd, recorded June 8, 1994 in Official Records Book 16396 at Page 807, Public Records of Dade County, Florida, The telephone number to present inquiries or obtain information about coverage and to provide assistance in resolving complaints is 1-800-959-5591. BROAD AND CASSEL 175N.W.1stAvenue,St.2000 Miami, Florida 33128 Murray D. Shear, P.A. Note: If this schedule is attached to a Loan Policy, junior and subordinate matters, if any, are not reflected herein. Note: This Policy consists of insert pages labeled Schedules A and B. This Policy is of no force and effect unless both pages are included along with any added pages incorporated by reference. SCHEDULE B Loan or Owners Reorder Form No. 1896 (Rev. 3/89) R:\RE\ 12937\0004\MDSKJG07 ,258 EXHIBIT "A" Legal Description as to Lot 1 Policy Number: 1 0 0198 04 000423 Page 3 PARCEL 1: The Westerly 62.50 feet of Lot 1, Block 34, Ocean Beach, Fla., Addition No. 1, recorded in Plat Book 3, at Page 11 of the Public Records of Dade County, Florida. PARCEL 2: Air rights contiguous and appurtenant to the easterly 13.16 feet of the aforesaid Lot 1. The vertical lower boundary of the Air Rights shall be at an elevation of 40.00 feet National Geodetic Vertical Datum (N,G,V.D,), 1929. The vertical upper boundary shall be at an elevation of infinity. PARCEL 3: The Air Rights for the following described parcel of land: Lot 1, less the Westerly 62.50 feet and less the Easterly 13,16 feet, Block 34, Ocean Beach, Florida, Addition No.1, recorded in Plat Book 3, at Page 11 of the Public Records of Dade County, Florida. The Lowest Vertical boundary of the above described Air Rights shall be at an elevation of 23 feet. National Geodetic Vertical Datum (N,G.V,D.), 1929. The upper boundary of said Air Rights is an elevation of infinity, Base of Air Rights contains 3217 square feet. EXHmIT "A" Loan or Owners Reorder Form No. 1896 (Rev. 3/89) R: \RE\ 12937\0004 \MDSKlG07 .26A , , , ~ ~' ~ ::~.. .:., :~:. :~:::~:;:..x .~<~::~ ~::.~~:;:~, EXHIBIT n A" Continued Legal Description as to Lots 2 - 5 Policy Number: 1 0 0198 04 000423 Page 4 PARCEL I: That Part of Lots 2 through 5 inclusive, Block 34, Ocean Beach, Fla., Addition No.1, recorded in Plat Book 3, at Page 11 of the Public Records of Dade County, Florida. Part of Lots 2 through 5: Bounded on the West by the Westerly line of said Lots 2 through 5, bound on the North by the Northerly line of Lot 2; bounded on the South of the Southerly line of Lot 5; bounded on the East by a line described as follows: Commence (P.O.C.) at the southwest corner of said Lot 5 and run S 790 12'25" E along the Southerly line of Lot 5, a distance of 45.16 feet to the Point of Beginning of the referenced Easterly line, thence run N 100 47'35" E along a line parallel with and 45.16 feet Easterly of the Westerly line of Lots 5 through 3 inclusive, a distance of 150.00 feet; thence run N 290 55' 12" E across Lot 2, a distance of 52.92 feet to the Northerly line of Lot 5, said point being 62,50 feet Easterly of the northwest corner of Lot 5. Area described contains 9465.5 Square Feet. PARCEL": Air Rights for a part of Lots 2 through 5 inclusive, Block 34, Ocean Beach, Fla., Addition No, 1, recorded in Plat Book 3, at Page 11 of the Public Records of Dade County, Florida; said part bounded as follows: Bounded on the East by a line 1 3,1 6 feet Westerly of the Easterly line of said Lots 2 through 5 inclusive, bounded on the North by the Northerly line of Lot 2; bounded on the South by the Southerly line of Lot 5; bounded on the West by a line described as follows: Commence (P.O.C.) at the Southwesterly corner of Lot 5 and run S 79012'25" E along the Southerly line of Lot 5, a distance of 45.16 feet; to the Point of Beginning (P.O.B.) of said line; thence run N 10047'35" E along a line 45,16 feet Easterly of the Westerly line of Lots 5 through 3, a distance of 150,00 feet to the Northerly line of referenced Lot 3; thence run N 29055'12" E across Lot 2, a distance of 52.92 feet to the Northerly line of said Lot 2, said point being 62.50 feet from the Northwest corner of Lot 2. Area of the base of Air Rights is 15,902.50 Square Feet. The Lowest Vertical Boundary of the above described Air Rights is at an elevation of 23.00 feet, National Geodetic Vertical Datum (N.G,V.D.1, 1929, The upper boundary of the said Air Rights is an elevation of infinity, PARCEL III: Air Rights for the Easterly 13,16 feet of Lots 2 through 5 inclusive, Block 34, Ocean Beach, Fla" Addition No, 1, recorded in Plat Book 3, at Page 1 1 of the Public records of Dade County, Florida. The Lowest Vertical Boundary of the above described Air Rights is at an elevation of 40.00 feet, National Geodetic Vertical Datum (N.G.V.D.1, 1929. The upper boundary of the said Air Rights is an elevation of infinity, Area of the Base of the Air Rights is 2632 Square Feet. EXHmIT "A" Loan or Owners Reorder Form No. 1896 (Rev. 3/89) R: \RE\ 12937\0004 \MDSKJG07 .26A .>::;:: .:.: EXHIBIT "A" Continued' Legal Description as to Lot 6 Policy Number: 1 0 0198 04 000423 Page 5 PARCEL I: The Westerly 45.16 feet of Lot 6, Block 34, Ocean Beach, Fla. Addition No.1, recorded in Plat Book 3, at Page 11 of the Public Records of Dade County, Florida contains 2108 Square Feet. PARCEll!: Air Rights for the Easterly 13,16 feet of Lot 6, Block 34, Ocean Beach, Fla., Addition No, 1, recorded in Plat Book 3, at Page 11 of the Public records of Dade County, Florida. The Lowest Vertical Boundary of the above described Air Rights is at an elevation of 40.00 feet, National Geodetic Vertical Datum IN.G.V.D.), 1929, The upper boundary of the said Air Rights is an elevation of infinity, Area of the Base of the Air Rights is 658 Square Feet. PARCEl III: Air Rights for that part of Lot 6 described as Lot 6, less the Easterly 13.16 feet and less the Westerly 45,16 feet, Block 34, Ocean Beach, Fla., Addition No.1, recorded in Plat Book 3, at Page 11 of the Public records of Dade County, Florida. The Lowest Vertical Boundary of the above described Air Rights is at an elevation of 23.00 feet, National Geodetic Vertical Datum IN.G.V.D.), 1929. The upper boundary of the said Air Rights is an elevation of infinity. Area of the Base of the Air Rights is 4084 Square Feet. EXHmIT "A" Loan or Owners Reorder Form No. 1896 (Rev. 3/89) R: \RE\ 12937\OOO4\MDSKJG07 .26A CONDITIONS AND STIPULATIONS ,. DEFINI:rION 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 may have had against the named insured, those who succeed to the interest of such insured by operation of law as distin- guished from purchase including, but not limited to, heirs, distributees, devi- sees, survivors, personal representatives, next of kin, or corporate or fiduciary successors, (b) "insured claimant": an insured claiming loss or damage hereunder, (c) "knowledge": actual knowledge, not constructive knowledge or notice which may be imputed to an insured by reason of any pub~ic records, (d) "land": the land described, specifically or by reference in Schedule A, and improvements affixed thereto which by law constitute real property; pro- vided, however, the term "land" does not include any property beyond the lines of the area specifically 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. (I) "public records": those records which by law impart constructive notice of matters relating to said land, 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 so long as such insured retains an estate or interest in the land, or holds an indebtedness secured by a purchase money mortgage given by a purchaser from such insured, or so long as such insured shall have liability by reason of covenants of warranty made by such insured in any transfer or conveyance of such estate or interest; provided, however, this policy shall not continue in force in favor of any purchaser from such insured of either said estate or interest or the indebtedness secured by a purchase money mortgage given to such insured, 3. DEFENSE AND PROSECUTION OF ACTIONS-NOTICE OF CLAIM TO BE GIVEN BY AN INSURED CLAIMANT (a) The Company, at its own cost and without undue delay, shall provide for the defense of an insured in all litigation consisting of actions or proceedings commenced against such insured, or a defense interposed against an insured in an action to enforce a contract for a sale of the estate or interest in said land, to the extent that such litigation is founded upon an alleged defect, lien, encumbrance, or other matter insured against by this policy, (b) The insured shall notify the Company promptly in writing (i) in case any action or proceeding is begun or defense is interposed as set forth in (a) above, (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 such prompt notice shall not be given to the Company, then as to such insured all liability of the Company shall cease and terminate in regard to the matter or matters for which such prompt notice is required; provided, however, that failure to notify shall in no case prejudice the rights of any such insured under this policy unless the Company shall be prejudiced by such failure and then only to the extent of such prejudice, (c) The Company shall have the right at its own cost to institute and without undue delay 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, and the Company may take any appropriate action under the terms of this policy, whether or not it shall be liable thereunder, and shall not thereby concede liability or waive any provision of this policy, (d) Whenever the Company shall have brought any action or interposed a defense as required or permitted by the provisions of this policy, the Company may pursue any such 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, (e) In all cases where this policy permits or requires the Company to prose- cute or provide for the defense of any action or proceeding, the insured hereunder shall secure to the Company the right to so prosecute or provide defense in such action or proceeding, and all appeals therein, and permit the Company to use, at its option, the name of such insured for such purpose, Whenever requested by the Company, such insured shall give the Company all reasonable aid in any such action or proceeding, in effecting settlement. securing evidence, obtaining witnesses, or prosecuting or defending such action or proceeding, and the Company shall reimburse such insured for any expense so incurred, 4. NOTICE OF LOSS-LIMITATION OF ACTION In addition to the notices required under paragraph 3(b) of these Conditions and Stipulations, a statement in writing of any loss or damage for which it is claimed the Company is liable under this policy shall be furnished to the Company within 90 days after such loss or damage shall have been deter- mined and no right of action shall accrue to an insured claimant until 30 days after such statement shall have been furnished, Failure to furnish such state- ment of loss or damage shall terminate any liability of the Company under this policy as to such loss or damage, 5. OPTIONS TO PAY OR OTHERWISE SETTLE CLAIMS The Company shall have the option to payor otherwise settle for or in the name of an insured claimant any claim insured against or to terminate all liability and obligations of the Company hereunder by paying or tendering payment of the amount of insurance under this policy together with any costs, attorneys' fees and expenses incurred up to the time of such payment or tender of payment, by the insured claimant and authorized by the Company, 6. DETERMINATION AND PAYMENT OF LOSS (a) The liability of the Company under this policy shall in no case exceed the least of: (i) the actual loss of the insured claimant; or (ii) the amount of insurance stated in Schedule A, (b) The Company will pay, in addition to any loss insured against by this policy, all costs imposed upon an insured in litigation carried on by the Com- pany for such insured, and all costs, attorneys' fees and expenses in litigation carried on by such insured with the written authorization of the Company, (c) When liability has been definitely fixed in accordance with the condi- tions of this policy, the loss or damage shall be payable within 30 days thereafter, 7. LIMITATION OF LIABILITY No claim shall arise or be maintainable under this policy (a) if the Company, after having received notice of an alleged defect, lien or encumbrance insured against hereunder, by litigation or otherwise, removes such defect, lien or encumbrance or establishes the title, as insured, within a reasonable time after receipt of such notice; (b) in the event of litigation 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, as provided in paragraph 3 hereof; or (c) for liability voluntarily assumed by an insured in settling any claim or suit without prior written consent of the Company, 8. REDUCTION 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, No payment shall be made without producing this policy for endorsement of such payment unless the policy be lost or destroyed, in which case proof of such loss or destruction shall be furnished to the satisfaction of the Company, 9. 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 either (a) a mortgage shown or referred to in Schedule B hereof which is a lien on the estate or interest covered by this policy, or (b) a mortgage hereafter executed by an insured 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, The Company shall have the option to apply to the payment of any such mortgages any amount that otherwise would be payable hereunder to the insured owner of the estate or interest covered by this policy and the amount so paid shall be deemed a payment under this policy to said insured owner, CONDITIONS AND STIPULATIONS (Continued on Reverse Side) CONDITIONS AND STIPULATIONS (Continued) 10, 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 said 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 such parcel by the Com- pany and the insured at the time of the issuance of this pQlicy and shown by an express statement herein or by an endorsement attached hereto, 11. SUBROGATION UPON PAYMENT OR SETTLEMENT Whenever the Company shall have settled 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 such insured claimant would have had against any person or property in respect to such claim had this policy not been issued, and if requested by the Company. such insured claimant shall transfer to the Com- pany all rights and remedies against any person or property necessary in order to perfect such right of subrogation and shall permit the Company to use the name of such insured claimant in any transaction or litigation involving such rights or remedies, If the payment does not cover the loss of such insured claimant. the Company shall be subrogated to such rights and remedies in the proportion which said payment bears to the amount of said loss, If loss should result from any act of such insured claimant. such 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 hereunder which shall exceed the amount, if any, lost to the Company by reason of the impairment of the right of subrogation, 12. LIABILITY LIMITED TO THIS POLICY This instrument together with all endorsements, and other instruments, if any. attached hereto by the Company is the entire policy and contract between the insured and the Company, 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 any action asserting such claim, shall be restricted to the provisions and conditions and stipulations of this policy, No amendment of or endorsement to this policy can be made except by writing endorsed hereon or attached hereto signed by either the President, a Vice President, the Secretary, an Assistant Secretary. or validating officer or authorized signatory of the Company, 13. 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: Chicago Title Insurance Company Claims Department 111 West Washington Street Chicago, illinois 60602 ." m""-,"I' ~~ A'~': ''''A'''l; ,~"^":', ,:~, "~.I\!i'" "~" ~,:^:, "~"!'!;;:'" ,..&~" :;~ "A'" '~IiI!li.'" "..t!Ilo""i~ 0 "'.;!\o:" :";;flI:-:'; ;. _~:\'l:t; ': ., :i!::~ ",:!:::.': ";:~:': ':".:1';:-,':; " .I\!i:' "'..I\!i:" .,' J!\...' 3 z '1 0 'ii. 'd ~ I, ... ...., ::::.. ~ Jl 0 ;:; i <D - - ~ b ~ - ~ ~ ~ - ...., Z ~ :::!. 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