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2000-23 .\ . (.M~Y 23 '00 09:56AM FR~NK KRUPPENB~CHER " . P.l/l . , . AlZo-lO AGREEMENT TO SELL REAL ESTATE Jane Jacksoa, fiustee &: Nancy G. Bogmaa of 10847 Crescent Lane, Clermont, FL 34711 as Seller, and City of Clermont Commumty Redevelopment Agency (CRA) of One Westgate Plaza, Clermont, FL 34702 as Buyer, helebLa&!ee that the Seller sIWI sell and the Buyer shall þ~- t~~ foJlowig described ~~operty UPON THE TERMS AND CONDITIONS HEREINAFTER SET FORm which shall include the STANDARDS FOR. REAL EST ATE TRANSACTIONS set forth within this contraçt. 1. LEGAL DESCRIPTION of real estate located in Clermont, Florida, Lake County, State of Florida, Lots 2 and 4 south 100 feet of Lot 6. Block 81, Plat of Clermont, Plat Book 8, Page 17. Public Records of Lake County. Florida. 2. PURCHASE PRICE: 5130,000,00 DoOan - Method of Payment: (a) Deposit to he held in trUst by: City Clerk, City of Clermont: SSOO.OO. (b)New purchase money mortgage to be held by the Sellers ( 590,000,00; five (5) year amortization' 10% interest; 5 annual payments). (c)Cash, certified or local cashier's check on closing and deliv~ of deed (or such gtea;ter or lesser amount as may be necessary to complete payment of purchase pnce after Credits, adjustments and prorations). 539,500.00 3. PRORATIONS: Taxes, insurance, interest, rents and other expenses and revenue of said property shall be pro-rated as of the date of closing. 4. RESTRICTIONS, EASEMENTS, LIMITATIONS: Buyer shall take title subjeä to: (a) Zoni~ restrictions, prohibitions and r~uirements imposed by governmental authonty, (b) Restrictions and matters appeari~g on the plat or common to the subdivision, (c) Pubhc udiity easements of record, provided said easements are located on the side or rear lines of the property, (d) Taxes for y~ ofclosin~; assumed mortgages, and purchase money mortpges, if any, (e) Other: Parking Lot .Seller warrants that there Shall De no violations ofbuiIdíng or zomng codes at the tiBle of closing. S. DEFAULT BY BUYER: If Buyer fails to perform any of the covenants of this contract, aU money paid pursuant to this contract by Buyer as aforesaid shall be retained by or for the account of the Seller as consideration for the execution of this contract and as agreed hquidated damages and in full settlement of any claims for damages. 6. DEFAULT BY SELLER: If the Seller fàils to perform any of the covenants of this contract, the aforesaid money paid by the Buyerl at the oPtion of the B~~~ shan be retumed to the Buyer on demand; or the Buyer söa11 have omy the rig'bt of speçifiç pçn:onnance. 7. TERMITE INSPECTION: At least IS days before closinø, Buyer, at Buyer., ~se, shall have the right to obtain a written repOI1 ftom a licensed extermmator stating tlíat there is no evidence of live termite or other wood-boring inseçt infestation on said prop~ nor substantial damase from prior infestation on said prOJ1~. Ifthete is such evidence, Seller shall pay up to ~e 1.3%) percent of the purchase price for tile treatment required to remedy such infestation, includlllg repairing and replacing portions of said imp!'ovements which have been damaged; but if the costs for sucll treatment or repairs exçeed three (3%) percent of the purchase price, Buyer may elect to pay such excess. If Buyer elects not to pay, S'eller may pay tlie excess or cancel the contract. MAY 22 '00 04:55PM FRANK KRUPPENBACHER P.2/5 .. ."'. . . laws of the State first appearing at the head of this note. The undersigned hereby execute this note as principals and not as sureties. Signed in the presence of: " " .... "'ower B'Y:--.... . Turville. Its Chairman a statutÒI)-..., oancy created pursuant Part ill, C~ .. 163. '-"- '., "-., . "-" Witness Witness :,. MAY 23 '00 08:41AM FRANK KRUPPENBACHER ," . '. P.3/4 . S.OTHER INSPECTIONS: At least 15 days before closing, Buyer or his agent may inspect site surface, subsurface and improvemems. 9. LEASES: Seller, waznnts there are no leases. 10. MECHANICS LIENS: Seller shall furnish to Buy'er an affidavit that there have been no improvements to the subject PIOl>C!t.y for 90 days immeéiiately preceding the date of closing. and no financing statements, claims of ben or potentiallienOrB mown to S-eller. If the prop~ has been improved within tliat time, Seller shall deliver releases or waivers of all mechinics liens as executed by s...eneral contractors, subcontract~ suppliers and materialmen, in addition to the seller's lien affidavit, setting forth the names of ãU general contractors, subcontractors suppliers and materialmen and reciting that all bills for work to the subject property which could serve as basis for mechanics liens have been paid or will he paid at dosing tIme. 11. PLACE OF CLOSING: Closing shall be held at the office of the Seller's attorney or as otherwise agreed upon. 12. TIME IS OF THE ESSENCE: Time is of the essence of this Sale and Purchase Agreement. 13. DOCUMENTS FOR CLOSING: Seller's attorney shall prepare deed, note, mortgage. Seller's affidavit any corrective instruments required for peifeCting the title, and clo~ statement and submit copi,es of same to Buyer's attorney, aná copy or closing statement to the Buyer, at least two days prior to scheduled closing date. 14. TITLE INSURANCE: At least five (5) days prior to Closing, Seller. at Seller's ~enseJ deliver to Buyer c/o City of Clermont Cl!y' Manager's Office, I WeStgate Plaz~ Clermont, Florida, a commitment to Issue to Buyer a TItle Insurance Policy subject oÌÙy to AL T A., standard exceptions. IS. EXPENSES: State documentary stamps required on the instrument of conveyance and the cost of m;ording any corrective instruments shaD be paid by the Seller. Document~ stamps to he affIXed to the note secured by the purchase money mortgage. intangible tax on the mortgage, and the cost of recording the deëd and purchasing money mortgage shall be paid by the Buyer. 16. INSURANCE: If insurance is to be prorated, the Seller shall on or before the closmg date, furnish to Buyer all insurance policies or copies thereof. 17. RISK OF LOSS: If the improvements are damaged by fire or casualty before deliveJy of the deed and can he restored to substantially the same condition as now witltin a period of 60 days thereafter. Seller shall 50 restore the improvements and the closing date and áate of delivery of ~ossession hereinbefore provided shall he extended accordingly. If Seller fails to do so the Buyer shall have the option of (1) takins the prop~ as i~ together with insurance procèèðs, if any. or (2) canceling the contract. and an deposits shall be IortJiwith returned to the Buyer and all parties sull be released of any and all obligations and liability. 18. MAINTENANCE: Between the date of the contract and the date of closing, the In"O.pertt. including lawn, shrubb~ and pool, if~, shall be maintained by the Seller in the condItion as It existed as of the date of the contract, ordü1ary wear and tear excepted. 19. CLOSING DATE: This contract shaJJ be closed and the deed and possession shall delivered on or before the day of lZtb day of July, 2000 unless extended by other provisions of this contract. 20. TYPEWRITTEN OR HANDWRI'ITEN PROVISIONS: Typewritten or handwritten ~~ ¡1ISCI'fft m cIIis fimn tUll 1 aU prime4 prcMsiDlas ÌII cont1ic;t tbcrewida. 21. O'l1Œlt AG1ŒÞŒl'41'5: No or ~on, ualau iac:otpotatal ill rbis Gmdr~ lUll he biøcJiflS upon uy paniu. 2Z. UIJO1'( GAS D1SCU)S'UU. ra¡uimt by ft. (L~ (Seller) makes tkII following lliK1øsure: "RUGA Gat. i. . IlitunU. O~DI AdiDaCù\IC ... tbãt. wbea: it lias aœuaaullt8d iD a buildãøg ill suØiei8Dt ;uœitia... ~ -lilt¡ riIks to. ~ who are ~nd to it GYU ~. LMls or ndoa tIiIt ~ IDd state PdeJ.- haw been fDua.d in buildif:&p ¡It . .Addilicml1 i repdiD.s ndoA end rado tali.. may - obtìiUct bolll JOUr c:ouDIy JUblic health uiL 23. LEAD PADtt DJSCUJStJD. 'œY8;Y ~ of 1ft1. ... in reaidemil1 teal propaty OD .bida a ÞUÌdcnt dweWøa Wu buJt poor to I'" is DDti&cd tIIat such J!lOPIfty I\1IY ~- -,- '" Iud Jivm JcØ-i"ucd II' dIat JI'8W Place -ft.. dåJdna &1 rük iIf devdom- lad ""'-,,",:,00 Lead . . - r ~Q ... ~ I . a1r~_..., ~~=iI: y I ~q:".. ~ ,:::m~~mI j~ ~. I.a&t ~iq also ~ . pa tiialar riik to ..... 'IIIVDI8D, The seller ó): iQ.- ill raidlAlill rea~ est. i. um 10 pravÎd,e the ~ _?Wi' any infDrmativa OIL . band . -.. bm risk .. S 01' ~ in - sellen pDJIa- ad DDrify dat: buyer Of ID~~ leacf,.b~ 50 A_"'" CII' iDSpdon for JIOIIÌb1e 1.. b-. pIiøt i, Aa . tø pun.;bue." - 24. &rECIAL CAVSES: NlA COMMISSION TO 8ROJŒa; SeUu -by ~ NI A ai the . Brokv in thiJ ttaaIIaiDn. .. ... pay U OOII&mislÏOA . NtA . fi oflbe ~ Illes ~ tile. IUIII -or' Nt A Ðo1Iars S . . )~r ot me apSlz QI çU8 AIDe is RII1ded' Þ)' die BUJCI. ~ WI1In ~ ~ , . Cot -.Mce R8den4. pravidlll lime do.. DOl -- tile UDOIuß the COIDJNSIIR' . w:rnŒSSES BY; . III 002 P.4 25/05 '00 JlŒ 16:19 TEL 977 779118 .. 5~-2ØØ 8, 45AM FROM- ',"" 1..,/ IIICJ l\1l:I"'.1.1011" "1UoII+r~ l~IVERSALS PORT AVENTl~A P.iIiI.l4 x ~~~-¡oò I1Þa ~Ò}q.o ~<X) MAY 22 '00 04:54PM FRANK KRUPPENBACHER P.l/5 , , , . . lU'3-04 PROMISSORY NOTE S,O,OOO,OO Dated: May 22. 2000 State of Florida Principal Amount FOR VALUE RECEIVED, the undersigned hereby jointly and severally promise to pay to the order of: Jane Jackson, Trustee and NaBcy G. Bugman NiBety Thousand DoOan (590,000) together witb iDterest thereon at the rate of 10% per aDDum OD tbe unpaid balaD~e. Said sum shall be paid in the manner following: Five equal, aDDual payments of principal and interest with the first payment one year ftom the date written above, and annually thereafter. All payments shall he first applied to interest and the balance to principal. This note may be prepaid, at any time in whole or in part wit1lout penalty. All prepayments shall be applied in reverse order of maturity. This note shall at the option of any holder hereof be immediately due and payable upon the failure to make any payment due hereunder within thirty (30) days ofits due date. In the event this note shall be in default, and placed with an attorney for collection, then the undersigned agree to pay all reasonable attorney fees and costs of collection. All payments hereunder shan be made to such address as may from time to time be designated by any holder hereof. The undersigned and all other parties to this note, whether as endorsers. guarantors or sureties, agree to remain fully bound hereunder until this note shall be fully paid and waive demand, presentment and protest and all notices thereto and further agree to remain bound, notwithstanding any extension, renewal. modification, waiver, or other indulgence by any holder or upon the discharge or release of any obligor hereunder or to this note. or upon the exchange. substitution, or release of any collateral .granted as security for this note. No modification or indulgence by any holder hereof shall be binding unless in writing and any indulgence on anyone occasion shall not be an indulgence for any other or future occasion. Any modification or change of tenus. hereunder granted by any holder hereof; shall be valid and binding upon each of the undersigned. notwithstanding the acmowledgment of any of the undersigned, and each of the undersigned does hereby ilTevocably grant to each of the others a power of attorney to enter into any such modification on their behalf. The rights of any holder hereof shall be cumulative and not necessarily successive. This note shall take effect as a sealed instrument and shall be constIUed. governed and enforced in accordance with the 07/20/2000 14:40 FAX 352 429 3035 ROBERTS & LAW PA III 01 \ - -if;. . ... ~ e. . RoøI:.l'é'I~ a LAW. P.A ATTORNEYS AT LAW PCST om~ eox SF - S. MAIN AVENUE C;fIO¥~D. PLOItIDA Sol'. T~t:"""": CS5a. 48!t-Z'1I3 FAIl ~ø: (8811 ca.3D3S ART""" E. A08EIITS (lea..,..,. J\A.IA A. L.AW FACSIMILE TRANSMITTAL FORM DATE: 7/20100 TOTAL NUMBER OF PAGES INCLUDING THIS PAGE: 5 TO: Patricia FAX #: 394-1452 FROM: Beverly FAX #: 352-429-3035 RE; Jackson & Bugman sale to the City of Clermont COMMENTS: Enclosed please find title commitment number CF-0336831 for the subject matter. Please advise if you need any additional information. The information contained In this facsimile message is attorney privileged and confidential information intended only for the use of the individual or entity named above. If the reader of this message is not the intended recipient, you are hereby notified that any dlssiminltion, distribution or copy of this communication Is strictly prohibited, If you have received this communication in error, please immediately notify us by telephone, Thank you. 7 ~ rÞ./-Oo - ~ 6 we¿¿ ¡jd Ýr};JG WftL- Us fòdcu¡ (a¡tI; d-: 001111) Jlt : Wf1û I 5 fJf! ß ~ J cI CJUl /JJ cU-f- 5 - eI 0 SI J1 5 éJ at..,( . ':! ~; JL dC'<'~ f~ cI f¡ 11/(/ ÚJ-f vvß ClR'êfr fd ~ a .."d.. CIA ~ ' 07/20/2000 14:40 FAX 352 429 3035 ,', .. . ", ~, ROBERTS & LAW PA . flJ 02 Delivered with and printed 071 this Commitment Tacket is the Closing Protection Le~er.p'o1lUl~g¡'ted JltUÚ! Rule 4-186.f!10, F A.c. COMMITMENT AND CLOSING PROTECTION LEITER Attorneys' Title Inswance Fund, Ine. ORLANOp, FLORIDA Commitment To Insure Title A TIORNEYS' TmE INSURANCE RJND, INc., a Florida corpora non, herein called THE FUND, for a valuable consideration, hereby commits to issue its policy or policies of title ~uranœ, as identified in Schedule A. in favor of the proposed Insured named in Schedule A, as owner or mortgagee of the estate or interest covered hereby Ú1 the land descn'bed or referred to in Schedule A; subject to the provisions of Schedules A and B and to the Conditions and Stipulations hereof. This Commitment shall be effective only when die identity of the proposed Insured and the amount of the policy or polidàS committed for have been inserted in Schedule A hereof by mE RJND, either at the time of the issuance of this Commitment or by. subsequent endorsement. 'This Commitment is preliminary to the issuance of sucl\ policy or policies of title insurance and all liability and obligations hereunder shall cease and tenni11ate six months after the effective date hereof or when the policy or policies committed for shall issue, whichever first occurs, provided that the failure to issue such policy or policies is not the fault of THE FUND. ., In Witnf5S Wlœreof, A ITORNEYS' TITLE INSURANCE fUND, INC has caused this Commitment to be signed and sealed as of the effective date of Commitment shown in Schedule A, the Commitment to become valid when countersigned by an authorized signatory. " " ~~ h.';:-~~ ....1 ,1' : \ . 8: .... '; \~...~EA~....~.I ,~..7 Attorneys' Title Insurance Fund,lnc, By ~~ Charles J. Kovaleski President SERIAL CF. 0336831 FUND FORM CF (rev. 5199) 07/20/2000 14:40 FAX 352 429 3035 ROBERTS & LAW PA \ . FUND COMMITMF.NT FORM . SCHEDULE A III 03 Commitment No.: CF-0336831 Effccúve Date: 07/06/00 AgeDt's File Rekn~~ACKSON/CLERMON 11:00 p.m. Proposed Amoun[ of Insurance 1. Policy or Policies [0 be issued: OWNER'S: ALTA Owner's Policy (10/17/92). (If other, spedfy,) $130,000,00 Proposed 1nsured: CITY OF CLERMON1' MORTGAGEE: ALTA Loan Policy (10/17/92), (If orher, specify.) Propo¡eci 1nsùred: 2. The estate or interest in me land described or refeO'ed to in this commitment i& a fee 5imple (if other. specify same) and title thereto is at the effc:ctive date hereof VC5ted in: Jane Jackson, as Trustee of that certain Inter Vivos Revocable Trust Agreement, dated June 2, 1998, and Nancy G, Bugman "': 3. The land refem:d to in this commiuœ.nt Ì5 de5c;ribed 85 follows: Lots 2, 4, and the South 100,00 feet of Lot 6, Block 81, CITY OF CLERMONT, according to the Plat thereof as recorded in Plat Book 8, Pages 17 through 23, inclusive, Public Recorda of Lake County, Florida. ISSUED BY ROBERTS ~ LAW, P.A. ATTORNEYS AT LAW ~~ 2242 ~ AGENT NO. It! 'S SIGNATU GROVELAND . florida 3 4 7 3 6 - 0 0 5 '7 CiQ' Zip NAME Of ~GENT 250 SOUTH MAIN AVENUE P.O. BOX 57 Mailiq Address FUND fonD CM (Rev. 6/96) (486) 07/20/2000 14:40 FAX 352 429 3035 ROBERTS & LAW PA '.. ... . FUND COMMITMENT FORM . SCHEDULE B ~04 Commitment No.: CF-O336831 1: The following are the requirements to be complied wid¡: 1. Payment of the full consideration to. or for the account of. the panton or mortgagors. 2. lnsuumentS creating the estate or interest to be iDSured w~ch must be execUted. delivered and filed for record: 3. Warranty Deed from Jane Jackson as Trustee of that certain Inter Vivos Revocable Trust agreement dated June 2, 1998 and Nancy G, Bugman to City of Clermont. 4. Affidavit of trust to be recorded in the public records. n. Schedule B of the policy or policies or paranlee to be issued.»till contain exl:cptions to the fonowing maners unless the same are dispo&c:d of to the sa1ÏsÚl;tion of me FUND: - - 1. Defects, liens, eac:umbram:es, advene claims or other matterB, if any, created, fmt appeariDg in the publk records or auachiag subsequent to me effective date hereof but prior to the date the proposed Insured acquires for value of record the eswe or iDt.erest or mortgage thereon c:overed by dús c:onnnim1eQt. 2. Any owoer policy or owner guarantee Ï55ued pursullDt ben:to will contain under Schedule B the standard cxl:eptions set tanh at the inside cover hereof. A1J.y mongagee policy will contain under Sc:hedule B the Standard excepüons Udless aD affida\'it of possession BDd a satisfactory cum:llt survey are submincd, ID inspection of the premises is made, it is determined the curran year's Wte& or special II55e55IDr'Iltfi have beco paid, and it is determined there is nothing of record whkh would give rise to mecbanics" lieus which could t.alœ priority over &be mongagc (where the 1ieG5 would omerwise take priority, submission of wBiven is necessary). 3. Any owner policy issued putSuaøt hen:to will c:omain under Schedule B the following exception: Ally adverse ownt'Ship claim fly tlte Slatt.of Flori. tJy riglu of sovereignty to any portion of ,hI! ltmds insured herell1lder. induditrg subml!'Itd. /illed anti ani/idøJly upøsed lands, Ø1rd lands øc:cmed 10 sllch lands. 4. Restrictions, conditione, reservations, easements, and other matters contained on the Plat of the CITY OF CLERMONT, as recorded in Plat Book 8, Pages 17 to 23, inclusive, Public Records of Lake County, Florida. FUND FDnn C-SCH. B (rev. 5/!IoI) tO8/9& Oo l.,saflOI..I'fT+F1.- _ClJ ROBERTS & LAW PA III 05 07/20/2000 14:40 FAX 352 429 3035 " 4IÞ , , ~_. 4IÞ Standard Exceptions The owner policy will be subject to the mortgage. if any. noted under item two of Section I of Schedule B hereof. All policies will be subject to the following exceptions: (1) taxes for the year of the effective date of this Commitment and taxes or special assessments which are not shown as existing liens by the: public recörds; (2) rights or claims of parties in possession "ot shown by the public records; (3) encroachments, o\'erlaps. boundiuy lilte disputes, ¡md any other matters which wolùd be disclosed by an accurate survey and Ú1Spection of the premises; (4) easements, or claims of easements, not shown by the public: records: (5) any lien, or right to a lien, for seIVices, labor, or material heretofore or hereafter furnished, imposed by law and not shown by the public reCÇlrds. Conditions and Stipulations 1. The term "mortgage," when used herein. shaÜ inclQde deed of trust, trust deed. Or other seçurity instrument. 2. U the proposed Insured has or acquires actual knowledge of any defect, lien, encumbrance, adverse claim or other matter affecting the c:5tilte or interest or mortgage thereon covered by this Commitment other than those shown in Schedule B hereof, and shall fail to disclose such knowledge to THE FUND in writing, THE RJND shall be relieved from liability for any 1055 or damage resulting from any act of reliance hereon to the extent mE FUND is prejudKed by failure to so disdo~e such knowledge. If the proposed b1sured shall disclose such knowledge to THE RiND, or if THE FUND otherwise acquires actual knowledge of any such defect, Ijet\. encumbnnœ, adverse claim or other matter. TIiE FUND at its option may amend Schedule B of this Commitment accordingly, but such amendment shall not relieve 1HE FUND from liability previously incurred pursuant to paragraph 3 of these Conditions and Stipulations. Liability of THEFUNOWlderthisCommitmentshall be only to the named proposed Insured and such parties Ú1duded under the definition of Insured in the fonn of poticy 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 S, or (c) to acquire or create the estate or interest or mortgage thereon covered by this Commibnent. In no event shaU such liability exceed the amount stated in Schedule A for the policy or policies coøuni.tted for and such üability is subject to the insuring provisions. the Exclusions from Coverage and the Conditions and Stipulations of the form of policy or policies committed for in favor of the proposed Insured which are hereby incorporated by. refer.nce and are made a part of this Commitment except as expressly modified herein. 3. 4. Any action or actions or rights of action that the proposed Insured may have or may bring against 1HE FUND arising out of the status of the title to the estate or interest or the status of the mortgage thereon covered by this Commitment JI1ust be based on and are subject to the provisions of this Commitment. 07/20/2000 14:40 FAX 352 429 3035 ROBERTS & L~W PA , ~ ". : . Closing Protection Letter. The operation and scope of the foUowing Closing Protection lRtter (-tetter"') is linUted to the transaction which is the subject of the commltrnmt to which this letter is attached and is also directrd to those person(s) and/or entity (ies) set forth in the lelter and identified as a proposed inswed in the mmmitment III 06 RE: Issuing Agent: Agent countenigning the attached coaunitment. When tille wurance of Aftomeys' TItle Insurance Fund, Inc. is sp«i6ed for your protection in connection with closings of real estate transactions in which you are 10 be the lessee or purch.uer of an interest in I.-and or a Il'nder secured by a mortgage (inclul1ing any other 5e\.'Urity instnunent) of an inteœsl in land, Attorneys' Title Insurance fund. Inc., subject to the Conditions and Exclusions set forth below, hereby agrees to reimbUße you for act\la I loss inCWTed by you in connection with such dosing when conducted by said Issuing Agent when such loss arises out 01; 1. Failure of said Issuing Agent to comply with your written closing instructions 10 the extent thallhey relate to (a) the status of the title to said interest in land or the vaUdity. enforceability and priority of the lien of said mortgage on said interest in land, including the obtaining of documents and the disbursement of funds necessary to establish such status of title or lien. or (b) me obl3ining of an~' other document. specifically required by you. but IIDt to the extent that said instrudions requiIe a determination of the nUdity, enforceability or effectiveness of such other document. Dr (c) the collection ;md payment of funds due you, or' Z. Fraud or dlshonesty of said Issuing Agent in handling yoLir funds or documenls in coN\ection with such c105ing. H you are a lender protected under the foregoing paragraph. your borrower it\ coMection with a loan secured by a mortgage on a one-to-four family dwelUng shall be protected as if tlús letter were addresse<1 to your bon-ower. Conditions and Exclusions A. Attorneys' TItle Insurance Fund, Inc. will not be liable to you for JOS$ arising out of: 1. Failure of said IssLlång Agent to comply with your dosing instructions which require title insurance protection inconsistent with that set forth in the title insurance binder Of.commitment issued by Attorneys' TItle Insurance FW\d, Inc. Instructions wlúch require the temD'úil of ~c nceptions 10 title or compliance with th(> requirements contained in said bU\der or comø\itzne.nt shall not be deemed to be inconsistent 2. Loss or impairment of yol.ll' funds in the course of collection or while 01\ deposit with a bank due to bank faiJurt. insoh'ency or suspensJon. except such as shall result &om failure of said Issuing Agent to comply with ~'(I\lr written dosing instructions to deposit the funds in a bank which you designated by name. 3. Mechanics' and materialmen's liem in con."\edion with your purchase or lease Dr construction loan transactions, except to the extent that protection agaiNt such liens is afforded by a title insurance binloSer, coaunitDœnt or policy of Attorneys' TItle Insurance Fwd. Inc. 4. The periodic disburseuænt of construction loan proceeds or funds furnished toy the owner to pay for construction costs dwing the consttuction of improvl!UteRß on tIœ land to be iNured, UlÙess an officer Of the company has specilicaUy accepted the responsibility to you for such disbursement program in writing. B. When Attorneys' TItle Insuraru:e Fund, Inc. shall ha~ reimbursed you pursuant to this letter, it shan be subrogated to all rights and nunecües which you would have had against any person or property had you nol been 50 mnwursed. liability of Attorneys' "tJe Insurance Fund, Inc, for such reÏlnbunement shall be rvduced to the extent that you ha\'e knowingly and voluntarily impaired the value of such right of subrogation. C. Any liability of Attorneys' TItJ.e Insurance Fund, Inc:. for loss incurred by you in connection with clositlg$ of real estate transactions by said Issuing Agent shaD be limited to the protection provided by this letter. However. this letter shaU not affect the protection afforded by a title insurance binder, commitment or policy of Attorneys Title Insurance Fund. Inc. The dollar amount of liability hereby incurred shall not be greater than the amount of the title istsuranœ binder, commitment or policy of ti&- insurance to be issued, and liability h.rvunder as to any particular loan transaction shall be coextensive with liability under the poUcy issued to you in coN\t!CtÏon with such tran.Qction. Payment in accordanœ with the terms of this letter shaD reduce by the same amount the liability under such policy and payment under s~ch poJicy shall reduce by the same amount the company's liability under the tenns of this letter. D. Claims of loss shall be made promptly to Attorneys' lid. Insurance Fund. Inc. at its principal office at 6~5 Corporate Centre Boulevard, P.O. Box 628600, Orlando. Florida 32862~OO. When the failure to give prompt notice shall prejudice Attorneys' TItle lnsunnœ Fund. Inc., then liability of Attorneys' TItle Insurance Fund, Inc., hereunder shall be m1~Ct?d to rhe extent of such prejudice. Attorneys' TItle Insurance fund, Inc. shall not be liable hereunder unless notice or loss in writing is xeceived by Attomeys' TItle Insurance Fund, Inc. within ninety (90) days from the date of discovery at such loss. E. Nothing contained herein shall be construed as authori2.ing compliance by any issuing agent with any 5uch dosing instnKtions. compliance with which would constitute a violation of any applicable Jaw, nùe or ~gu1ation relating to me activity of title insurers, t!1eir issuing a&\!1\ts, and their failure to comply with any such d05ing instruCtions shaU not aeate any liability under the terms of this letter. F. The protection herein oimed wiD be effective until cancelled by written notice from Attornt?ys' TItle Insurance Fund.. Inc. Any previous wured Closing Sel'Vice letter or $imilar agreement is hereby cancelled, except lIS to do~gs of fC?W" real estate transactions r.garding wtrid1 you have pœviousJy sent (or within 30 days hereafter send) wntten dosing instIUctions to said Issuing Agent. . . . . . . . I . . LAST TRANSACTION REPORT FOR HP FAX-700 SERIES VERSION: 01. 02 FAX NAME: FAX NUMBER: DATE: 25-MAY-00 TIME: 08:4.6 D8IE 25-MAY I..I.ME 08:4.3 S REMOTE FAX NAME AND NUMBER 977 779118 DURATION EG RESULT 0:03:32 6 OK DIAGNOSTIC 66384.0100188 WWWWWWWWWWWWWWWWWWWWWWWwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwww S=FAX SENT I=POLL IN(FAX RECEIVED) O=POLLED OUT(FAX SENT) TO PRINT THIS REPORT AUTOMATICALLY. SELECT AUTOMATIC REPORTS IN THE SETTINGS MENU. TO PRINT MANUALLY. PRESS THE REPORT/SPACE BUTTON. THEN PRESS ENTER.