3. The estate or interest in the land described or referred to in this Commitment is Fee Simple.

Size: px

Start display at page:

Download "3. The estate or interest in the land described or referred to in this Commitment is Fee Simple."

Victor Fowler
5 years ago
Views:

1 Schedule A COMMITMENT 1. Effective Date: September 6, 2017 at 07:00 AM 2. Policy or Policies to be issued: Proposed Amount of Insurance a. ALTA Owner Policy(6/17/2006) Proposed Insured: Asdrubal De Jesus Sepulveda and Astrid Velazquez husband and wife b. ALTA Loan Policy (6/17/2006) Proposed Insured: TBD 3. The estate or interest in the land described or referred to in this Commitment is Fee Simple. 4. Title to the Fee Simple estate or interest in the land is at the Effective Date vested in: U.S. ROF III Legal Title Trust , by U.S. Bank National Association, as Legal Title Trustee. 5. The land referred to in this Commitment is described as follows: Lot 47, VILLA SOL PHASE I, VILLAGE 5, according to the map or plat thereof, as recorded in Plat Book 14, Page(s) 81 through 83, inclusive, of the Public Records of Osceola County, Florida Agent Number Consumer Title & Escrow Services Co., Inc. Company 6162 North US Highway 41 A Stock Company Street Address Apollo Beach, FL City, State OLD REPUBLIC NATIONAL TITLE INSURANCE COMPANY 400 Second Avenue South, Minneapolis, Minnesota (612) By President Authorized Officer or Agent ORT Form 4308 A Schedule A ALTA Commitment for Title Insurance Attest Secretary HC

2 Schedule B-I COMMITMENT Requirements: The following are the requirements to be complied with: 1. Payment to or for the account of the grantors or mortgagors of the full consideration for the estate or interest to be insured. 2. Instrument(s) necessary to create the estate or interest to be insured and other instruments which must be properly executed, delivered, and duly filed for record, and/or other matters which must be furnished to the company. Special Warranty Deed to be executed by U.S. ROF III Legal Title Trust , by U.S. Bank National Association, as Legal Title Trustee conveying the subject property to Asdrubal De Jesus Sepulveda and Astrid Velazquez. Mortgage encumbering the subject property executed by Asdrubal De Jesus Sepulveda and Astrid Velazquez husband and wife, Mortgagor(s), in favor of TBD, Mortgagee(s), in the Principal Amount of $. If the mortgagor(s) is a married person, then joinder of spouse is required unless the instrument includes a recitation that the grantor is single or that the subject property is not the homestead of the mortgagor nor the mortgagor's spouse. 3. Satisfaction of the mortgage in favor of MERS, Inc. nominee for First Magnus Financial Corporation, as Original lender, in the Original Amount of $320,000.00, recorded on 4/6/2007, in Official Records Book 3451, Page 196, Public Records of Osceola County, Florida. Last Assigned to PROF-2013-S3 Legal Title Trust, by U.S. Bank National Association, as Legal Title Trustee, as recorded on 12/29/2015, in Official Records Book 4891, Page 1034, of the Public Records of Osceola County, Florida. NOTE: Said mortgage was also erroneously recorded in Orange County in O. R. Book 9130, Page Dismissal of the foreclosure action and lis pendens with respect to the court case styled as; Plaintiff: PROF-2013-S3 Legal Title Trust, by U.S. Bank National Association, as Legal Title Trustee, Defendant: Ana B. Alvarez,et al, in Osceola County, Circuit Court, under Case No CA-1669, Lis pendens recorded on 7/14/2016, in Official Records Book 4992, Page 2383, of the Public Records of Osceola County, Florida. 5. Satisfactory evidence must be furnished showing that all homeowner association assessments, dues and/or fees, including special assessments or payments due to others such as a master association, are paid in full through the date of the closing. Estoppel Letter to be obtained from Villa Sol Residential Owners Association, Inc.. 6. If an instrument will be executed by an attorney in fact under a power of attorney, the Company reserves the right to make further requirements after review of the power of attorney for sufficiency for the transaction to be insured. If the power of attorney is deemed by the Company to be sufficient for the purposes intended, an affidavit by the attorney in fact, must be recorded, together with the power of attorney, stating the mental competency of the principal at the time of signing of the power of attorney and at the time of closing of the transaction to be insured (unless a durable power of attorney is used), that the power of attorney has not been revoked or terminated, and that affiant had not received notice of the death of the principal. The Company reserves the right to make additional requirements or exception after review of the requested documentation. 7. A search commencing with the effective date of this commitment will be performed at or shortly before closing of this transaction. If this search reveals a title defect or other questionable matters, an endorsement will be issued requiring that this defect or objection be cleared on or before closing. 8. Any reference to Official Records or Public Records shall be deemed to be located in the Official Records of the County where the subject property is located. 9. The Company reserves the right to add additional exceptions or make further requirements after review of the requested documentation. ORT Form 4308 B I Schedule B I ALTA Commitment for Title Insurance 6/06

3 Schedule B-I (Continued) 10. The following note is incorporated herein for information purposes only and is not part of the exceptions from coverage (Schedule B-II of the commitment and Schedule B-I of the policy): The following instrument(s) affecting said land is/are the last conveyancing instrument(s) filed for record within 24 months of the effective date of this commitment: Deed in Lieu of Foreclosure between Ana B. Alvarez a/k/a Ana Belen Alvarez f/k/a Ana Belen Alvarez Tosado, an unmarried woman, grantor, and U.S. ROF III Legal Title Trust , by U.S. Bank National Association, as Legal Title Trustee, grantee, recorded 07/25/2017 in O.R. Book 5183, Page 1514, Public Records of Osceola County, Florida. General Warranty Deed between James P. Ryan and Miriam Ryan, husband and wife, grantors, and Ana B. Alvarez, a married person, grantee, recorded 12/16/2005 in O.R. Book 3001, Page 464, Public Records of Osceola County, Florida. ORT Form 4308 B I Schedule B I ALTA Commitment for Title Insurance 6/06

4 Schedule B-II COMMITMENT 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 Company: 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 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 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 on the Land of existing improvements located on adjoining land. 3. Rights or claims of parties in possession. 4. Construction, Mechanic's, Contractors' or Materialmen's lien claims, if any, where no notice thereof appears of record. 5. Easements or claims of easements not shown by the public records. 6. General or special taxes and assessments required to be paid in the year 2017 and subsequent years. 7. Open permits and unrecorded code violations, if any, are neither insured or guaranteed under this commitment or any subsequent Mortgagee Title insurance policy and/or Owners Title insurance policy issued. 8. Any Liens created or levied pursuant to Chs. 190, 170 and 197, F.S., pertaining to community development districts. 9. All matters contained on the Plat of VILLA SOL PHASE 1, VILLAGE 5, as recorded in Plat Book 14, Page(s) 81-83, Public Records of Osceola County, Florida. 10. All matters contained on the Plat of VILLA SOL, PHASE II, VILLAGE 3, as recorded in Plat Book 16, Page(s) 52-53, Public Records of Osceola County, Florida. 11. Notice of Establishment ofvillasol Community Development District recorded in O.R. Book 1909, Page 429, Public Records of Osceola County, Florida. 12. Covenants, conditions, and restrictions recorded in O.R. Book 2124, Page 2046; as amended by O.R. Books and Pages: 2298/262 and 2455/1250 Public Records of Osceola County, Florida, which contain provisions creating easements and/or assessments. 13. Declaration of Consent to Jurisdiction of Community Development District and to imposition of Special Assessments recorded in O.R. Book 2264, Page 2108, Public Records of Osceola County, Florida. 14. Lien of Record of Villasol Community Development District recorded in O.R. Book 2264, Page 2114, Public Records of Osceola County, Florida. 15. No coverage is given for claims of ownership or riparian rights asserted by the State of Florida to those portions of the insured land that comprise sovereignty lands, including, without limiting, submerged, filled and artificially exposed lands and lands accreted to such land. 16. The nature, extent, or existence of riparian rights, if any, appurtenant to the insured lands lying below the mean/ordinary high water mark, are neither guaranteed nor insured, and the riparian rights of others as the same may affect the said property, are hereby excepted. 17. Any loss or damage caused by a lien for homeowner's association assessments pursuant to Section , Florida Statutes, notwithstanding assurances to the contrary in any attached Florida Form 9 Endorsement or ALTA Form 5 PUD Endorsement. (Affects any loan policy(s) issued pursuant to this commitment) 18. Subject to the rights of any tenants under the Protecting Tenants at Foreclosure Act of 2009, a part of Public Law Rights of lesees under unrecorded leases ORT Form 4308 B II Schedule B II ALTA Commitment for Title Insurance 6/06

5 Schedule B-II (Continued) 20. This policy does not insure against loss or damage arising as the result of unpaid charges for public utilities furnished by any county, municipality, or public service corporation, which may be or may become a lien upon the land insured hereby under any provision of the Florida Statutes, including Section , and/or any county, municipal, or special taxing district assessment, including those levied under the provisions of Chapter 190, Florida Statutes. 21. Any reference to Official Records or Public Records shall be deemed to be located in the Official Records of the County where the subject property is located. Note: FOR INFORMATIONAL PURPOSES ONLY Parcel Identification (Folio) Number: Homestead Exemption: $50, Ad Valorem Gross Amount: $3, Taxes Paid for the year(s): 2016 NOTE: The loan policy issued pursuant to this Commitment will have attached a Florida Endorsement Form 9 provided the following conditions are met to the satisfaction of the Company: a. A current survey is reviewed for encroachments and violations of restrictions and setback lines, and if present, determined to be minor. Said encroachments or violations will be listed in Schedule B of the policy. b. A seller's/borrower's affidavit is properly executed by the appropriate parties. NOTE: If a survey is not provided, a Florida Form 9 may still be issued. However, the provisions of paragraphs 1(b)(1), 1(b)(3), 1(b)(4), 3(a), 4 and 5 will be deleted by so noting on Schedule B of the policy. NOTE: One or more of the following endorsements may be attached to the loan policy if applicable and a premium paid therefore: Navigational Servitude Endorsement ALTA 8.1 Environmental Protection Lien ALTA 6 Adjustable Rate Endorsement ALTA 6.2 Negative Amortization Endorsement Revolving Credit Endorsement ALTA 4.1 Condominium Endorsement ALTA 5.1 Planned Unit Development Endorsement ORT Form 4308 B II Schedule B II ALTA Commitment for Title Insurance 6/06

6 Exhibit A - Legal Description COMMITMENT Lot 47, VILLA SOL PHASE I, VILLAGE 5, according to the map or plat thereof, as recorded in Plat Book 14, Page(s) 81 through 83, inclusive, of the Public Records of Osceola County, Florida. ORT Form 4308 Exhibit A-Legal Description ALTA Commitment for Title Insurance

7 Commitment for Title Insurance (with Florida Modifications) Issued By Old Republic National Title Insurance Company Old Republic National Title Insurance Company, a Minnesota corporation (the "Company"), for a valuable consideration, 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 in the Land described or referred to in Schedule A, upon payment of the premiums and charges and compliance with the Requirements; all subject to the provisions of Schedules A and B and to the Conditions of this Commitment. 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 by the Company. All liability and obligation under this Commitment shall cease and terminate six (6) months after the Effective Date or when the policy or policies committed for shall issue, whichever first occurs, provided that the failure to issue the policy or policies is not the fault of the Company. The Company will provide a sample of the policy form upon request. This Commitment shall not be valid or binding until countersigned by an authorized officer of the Company or an agent of the Company. IN WITNESS WHEREOF, Old Republic National Title Insurance Company has caused its corporate name and seal to be affixed by its duly authorized officers on the date shown in Schedule A Agent Number Consumer Title & Escrow Services Co., Inc. Company 6162 North US Highway 41 Street Address Apollo Beach, FL City, State OLD REPUBLIC NATIONAL TITLE INSURANCE COMPANY A Stock Company 400 Second Avenue South, Minneapolis, Minnesota (612) By President Attest Secretary Authorized Officer or Agent ORT Form 4308 FL ALTA Commitment for Title Insurance 6/06 (with Florida Modifications) HC

8 CONDITIONS 1. The term mortgage, when used herein, shall include deed of trust, trust deed, or other security instrument. 2. If the proposed Insured has or acquired 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 Company in writing, the Company shall be relieved from liability for any loss or damage resulting from any act of reliance hereon to the extent the Company is prejudiced by failure to so disclose such knowledge. If the proposed Insured shall disclose such knowledge to the Company, or if the Company otherwise acquires actual knowledge of any such defect, lien, encumbrance, adverse claim or other matter, the Company at its option may amend Schedule B of this Commitment accordingly, but such amendment shall not relieve the Company from liability previously incurred pursuant to paragraph 3 of these Conditions and Stipulations. 3. Liability of the Company 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 and Conditions and the Exclusions from Coverage 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. This Commitment is a contract to issue one or more title insurance policies and is not an abstract of title or a report of the condition of title. Any action or actions or rights of action that the proposed Insured may have or may bring against the Company whether or not based on negligence 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. 5. The policy to be issued will contain the following arbitration clause: Unless prohibited by applicable law, arbitration pursuant to the Title Insurance Arbitration Rules of the American Arbitration Association may be demanded if agreed to by both the Company and the Insured at the time of the controversy or claim. Arbitrable matters may include, but are not limited to, any controversy or claim between the Company and the Insured arising out of or relating to this policy, and service of the Company in connection with its issuance or the breach of a policy provision or other obligation. Arbitration pursuant to this policy and under the Rules in effect on the date the demand for arbitration is made or, at the option of the Insured, the Rules in effect at Date of Policy shall be binding upon the parties. The award may include attorneys' fees only if the laws of the state in which the land is located permit a court to award attorneys' fees to a prevailing party. Judgment upon the award rendered by the Arbitrator(s) may be entered in any court having jurisdiction thereof. The law of the situs of the land shall apply to an arbitration under the Title Insurance Arbitration Rules. A copy of the Rules may be obtained from the Company upon request. ORT Form 4308 FL ALTA Commitment for Title Insurance 6/06 (with Florida Modifications)

COMMITMENT SCHEDULE A COMMITMENT NO.: H FILE NO.: H. 1. Policies to be issued: Amount

COMMITMENT SCHEDULE A COMMITMENT NO.: H FILE NO.: H. 1. Policies to be issued: Amount COMMITMENT SCHEDULE A EFFECTIVE DATE:March 6, 2017 at 07:00 AM Inquiries should be directed to: 1. Policies to be issued: Amount (a) ALTA Owner's Policy ALTA Owner Policy(6/17/2006) Proposed Insured: TBD