The URL can be used to link to this page

Home My WebLink AboutA005 - Title Opinion dated December 9, 1986 r�~ LAW OFFICES PAYER, HUNZIKER & SEIDLIN 535 MAIN STREET AMES, IOWA 50010 OONALO R. PAYER CHRISTINE A.HUNZIKER December 9, 1986 JOSEPH W.SEIOLIN TELEPHONE (515)232-41 15 UPINOER(GREG)S. SAL FC"Y ILED Mr. and Mrs. Mike Durlam, Jr. 2 2 �987 and First National Bank 5th & Burnett 1 Y CLERK Ames, IA 50010 F kWS,IowA Dear Mike and Joann and The First National Bank: We have examined the abstract of title as last certified to by Batman-Sayers Abstract Company from the .root of title down to and including the 3rd day of December, 1986, at 8:00 A.M. , containing 37 entries and dealing with title to the following described property: Lot Eleven (11) in Reiste's Timberland Heights Subdivision to Section Sixteen (16) , Township Eighty-three (83) North, Range Twenty-four (24) 1bst of the 5th P.M. , Iowa. Based only thereon, we find the prevailing record title to be in Alice N. Alftine, subject only to the following: 1. At. Entry #36 of the abstract appears a county zoning ordinance in which this property is unclassified and must comply with the laws pertaining thereto. Definition of this classification may be obtained by consulting the Ordinance of Record in the County Recorder's Office. 2. At Entry #29 of the abstract appears certain Restrictive Covenants which restrict the various uses that may be made of the property. We are enclosinq a copy of these restrictions for you to read over. If you have any questions concerning these, please do not hesitate to contact us. 3. At Entry #37 of the abstract appear the regular taxes as follows: Regular taxes for Fiscal 1985-86: First installment - paid. second installment in the amount of $603.00 due but not delinquent. 4. SEWAGE AND WATER SYSTEMS. You are advised that if the property you are purchasing uses a sewage disposal system, well and water systems that you are subject to the provisions of the Story County Board of Health which requires that all sewage disposal systems and wells and water systems existing in Story County, Iowa, (except the incorporated City of Ames) shall be inspected and analyzed for compliance prior to. or during change in ownership of land. The Seller is required to obtain inspection reports from the Story County Board of Health and present them to the Buyer prior to or during the negotiations of the sales transaction. ' December 9, 1986 Mike and JoAnn Durlam and The First National Bank Page 2 5. I%b have examined a copy of the proposed Warranty Deed and find it in proper legal form. You will note that you are taking title as joint tenants, which means that in the event of death the entire property will be the sole property of the survivor. We also note that Iowa revenue stamps should be affixed to the deed prior to your recording the document in the office of the Story County Recorder. 6. There is a Special Assessment for sanitary sewer that has not been paid in the present amount of $2,680.88. Before the buyer can hook up to the existing sanitary sewer it will be necessary for the sellers to pay this amount, and there should .be deducted from the closing statement the amount of $2,680.88 which should be paid to the City of Ames. Also, any costs incurred to satisfy the objection in Paragraph 4 must be paid by the seller at the time of settlement. 7. If the property under examination is a homestead and the contract or mortgage which is being executed by the buyer or mortgagor contains a "waiver of homestead exemption" , then the following statement must appear in the contract or mortgage in bold face type of a minimum size of ten points: "I understand that homestead property is in many cases protected from the claims of creditors and exempt from judicial sale; and that by signing this contract, I voluntarily dive up my right to this protection for this property with respect to claims based upon this contract. " If there are any questions concerning this, please feel free to give us a call. C'A(TTION Since the following cannot be determined by examination of the abstract, your attention is called to the fact that you are required to take notice of the rights of all persons in possession of the real estate, other than the titleholder of record; any facts that would be disclosed by a boundary r or survey; the right to file mechanic's liens against the premises for labo materials furnished in connection with improvements thereon within ninety (9 days from the furnishinq of the last item; any restrictions as to building, occupancy, or, useage contained in applicable zoning or other city ordinances and rights of access to and from highways and streets. We are returning the original of this title opinion and the abstract to Friedrich Realty, Ames, Iowa. Yours very truly, PAYER, HUN I'KER & SEIDLIN .� f By iL i Donald Payer RECEIVED DRP:mb JUL 14 1987 CITY OF AMES,IOWA DEPT. OF PLANNING& HOUSING