The URL can be used to link to this page

Home My WebLink AboutA001 - Title Opinion Mai 17 02 01 : 42p RE MAX Real Estate Center (5151 232-4707 p. 2 7 TRIPLETT REAL ESTATE 61SZ828099 OS116102 02:16pm P. 002 05i16/02 THU 14:27 FAX 515 232 3846 NYEMASriTER LAN' FIRM 1!/JuuZ Ts"MASTER, GOODE,VOIGTS, WES,/ �l HANSELL & O'BRiEN A FunFRMONAL C000PATION AT1oRNEYs AND CotNSELom AT LAW L.IL vL*CM tAH?1AEL W.Twuu L.W_'MLL"ka"Itmv )ORpAN if.HANVU 700 WALwln,St=IWO C! 1AMU 0.WM MARY G 01CKff4ia4 nMW L.kMS=N loa L.AH1~ Do IVlov^rOWA 503093899 l ROcAR P.mN1g14 CUUM Q.WUA= BARRT 1.N.nLe1 CORV A NAN= IL CRAG yrovin 101yn c.LAWN WN u.V10 W.R1av6'ON (b15)283-3100 acw Miry KWgS ROO RVOAT OR"1.HR@e101 (AWMENQ 1.MYW STPVTI+I.RO OQ]MXA.Iawtrni oPCw 191ti 81717�3YE 1A�W8v Sarre 200 RUTH R.LuaefEL FlIANV O.H.$TV PAISLA 4. t�OPEIX tw CUU LC.OrOpmT1 CmkoI,NTWLWCN IAMM C W M CD"CN tL SwulNiT Atoms,lowA 50010-8070 XDWAT..VANOR409L muV W 11"n ANTMOCOLA@b )OIW I.Mc"VCHM IR AD 1.%^" nowt-W 3IA W.POLbY IWN 9.TU 4 KLL (51.5)233-3000 CA.NOIIMANN n1vW4..i rrIA /dl N.SYE'V@19ON PAW e.COMFKWT IUWAFLL 0.9oe11ACE 'n=V C HANCOCK ANGEL A.WeST W.DON 1w7m,nL Foevmde TooMA5 m ru me . THawr A.LCWCN iC1= RA77OWN A 0%VAA c RO=L.FMW (515)232-9848 CARI.TON T.pNG ICISE►M A.GLXNN ANGIIw L.WATSON COM LU714W L H"IR GRBGOKY F.PAEI WADS K SCHUT IM X,PAMUL-KOU nANDn1L e.1ma777AANn mnRr o..l�ts "Alley L PuN: Writer's r3wec1 Numbe( )At TAT04 G,TrRACAS SULLIVAN oesRA L_W IFLUT FAT NVMA SM (51 S)232-0298 KNNS M0W�AM 1HOMAS M.WALTON WHN T,aXNDVnN 1101LINS) ssnoPOPO L.AVWM WOLAr.O L.%am m .My 1.OQlRQ RARA)SEE AAlo MVM W.Comm NEAL R.W M 0.1.GOOOG 00AIL BJM@NYEMASTER(;OM HAYW ARD L.ORAM HALLO O,!rML<ARL STO}NAnp1 4.MAAM 11WT.20M REPLY TO:Ames May 16, 2002 Dave_ Greber Simplicity Mortgage 209 E. 191, Suite 100 Ankeny, Iowa 50021 Re: ESK TITLE OPINION Dear Mr. Graber: Pursuant to your request I have examined the Abstract of Title to the real property legally described as: Lot Twelve (12), Friedrich's Eighth Addition to Ames, Story County, Iowa, and the West One-half (W'/Z)of the vacated alley lying immediately East of Lot Twelve (12), Friedrich's Eighth Addition to Ames, Story County, Iowa. Said Abstract of Title consists of the original Abstract of the Henry Abstract Company and several formal continuations thereto with the most recent continuation being performed by the Batman-Sayers Abstract Company. Said Abstract runs from the Root of Title down and through May 0, 2002 at 8:00 a.m. Based entirely upon my examination of the above- described Abstract of Title, I am of the opinion that marketable title to said real estate is in: A. Duncan Scott and Elizabeth C. Scott, as Trustees of the Duncan and Elizabeth Scott Revocable Trust, Dated April 5, 1993, subject to the following: 1. Zoning. This property is located within the City of Ames, Story County, Iowa. You should consult with the zoning administrator of Ames and Story County to determine W Ww_rrtwAst>:R.coM Mai 17 02 01 : 43p RE MAX Real Estate Center (515) 232-4707 p. 3 TRIPLETT REAL ESTATE SIS22ZBO93 aSI15102 02:16pm P. 002 • vo• •v•yr ♦u� i+ 0 rnA J1.7 6J4 J040 INMnAZ lMK LAN r1XM IQ�DOJ Esk Title Opinion, page 2 May 16. 2002 what effect, if any, these zoning ordinances will have upon your intended use of the property. 2. Real Estate Taxes. The Abstract of Title indicates that the real estate taxes for the property under examination for the fiscal year 2000-2001 are as follows: first installment paid; second installment paid. i 3. Trust. As this property is owned by an inter vivos trust, I would require compliance with Iowa Title Standards 4.7. This title standard requires affidavits from the Trustee as well as the subsequent purchaser concerning the transaction. 4, Easement. At Entry#69 of the Abstract of Title,there is an easement across the West One-half of the vacated alley lying immediately East of Lot Twelve. There is an easement across the East two feet of the above-described real estate for the construction and reconstruction of utility lines. This easement is in favor of the City of Ames, Iowa. ��aau F i cated Alley. A portion of the property under examination concerns a vacated P f alley iyrirr9 immediately East of Lot Twelve. The present titleholders have title to this property by virtue of a Quit Claim Deed filed by the City of Ames. The Deed describes.the Ac j a b property as a vacated lot. I would require that a showing be made pursuant to Iowa Code c ;' Section 364.7 and 3623 concerning disposition of property owned by the City. The Plat in which this alley is located also dedicates this property to the public, but there is not conveyance made to the City of Ames, Iowa. I would require that some showing be made of the conveyance of this lot to the City of Ames, Iowa. 1 y A Without this information,It will be impossible to certify that the mortgage holder has a superior lien upon this portion of the property. This does not effect any mortgage upon Lot Twelve in Friedrich's Eighth Addition, 6. Uniform Gommgrcial Code. It appears that a personal lien search was done against A. Duncan Scott; Elizabeth C. Scott; against A_ Duncan Scott and Elizabeth C. Scott as Trustees of the Duncan and Elizabeth Scott Revocable Trust,Dated April 5, 1993; Thomas A. Esk; and Donja Esk in the office of the Story County Recorder. Since some UCC filings are made in the office of the Iowa Secretary of State, particularly with respect to items which are not a part of the land, house, or other buildings,or fixtures attached to any of these (such as the stove or other appliances), you should be aware that this Abstract and continuances thereto do not include a search of those records and this Opinion does not cover filings for any items beyond those covered in the Abstract of Title and continuances thereto. 7. Parties in Rossesslon and Boundaries. You are expected to know about the rights of anyone else who is in possession of any part of this property. You should inspect the property For any evidence of use or possession by strangers or adjoining property Mai 17 02 01 : 43p RE MAX Real Estate Center (5151 232-4707 p. 4 TRIPLETT REAL ESTATE S1S232309a 0S/1Be'02 02:1GRm P. 004 va�aoivc ini .:co rnn vav cac 00,40 IV11:UlAJlttt LAr1 f1ttQ1 WJvua Esk Title Opinion, page 3 May 16, 2002 owners of record, especially as to the boundaries, private driveways, drainage ditches, or encroaching buildings or fences. Furthermore, the exact boundaries can only be determined by having a formal survey done- B. Mechanic's Liens. Claims of liens for labor or material furnished for the improvement of the premises do not need to be filed immediately, and can Sometimes be filed up to ninety days after the completion of the work or until ninety days after the last item of material as been furnished. Therefore,a lien for recently completed work may not be reflected in the Abstract of Title upon which this Title Opinion is based. If any improvements have been made, or material furnished within the-Iasi ninety days, you should be furnished with satisfactory evidence that these items have been paid for. 9 Limitations on Title Opinion. This opinion is expressly limited to matters shown in the Abstracts. No opinion is expressed as to matters not shown which might affect title to the premises, among which are the following: a. All public assessments ordered but which have not become a matter of record in the county courthouse. b. Any flood plain regulation, encroachment limits,or flood plain zoning as established by the Iowa Natural Resources Council, C. Any secUrity interests in fixtures attached to the real estate of which notice may be given by a financing statement that has not been filed of record. d. Any state of facts which might be revealed by physical inspection of the property. 10. Environmental Disclaimer. You should determine whether any solid wastes, hazardous substances, pollutants, above or below ground storage tanks, drainage wells, water wells, landfill sites, or other environmentally regulated conditions exist on the property. Such conditions are not ordinarily shown in the Abstract, but they may result in injunctions,fines,required cleanup,or other remedial actions underfederal,state,or local laws. These laws may impose liens against the property and personal liability against the owner, even though the owner did nothing to create the condition, and acquired the property without knowing about it. This opinion is issued only for the benefit of the party to which it is addressed above. No other party or parties may rely upon it. Thank you for this opportunity to have been of service to you, han J. ke BJH/cjh Examinj g Attorney I