HomeMy WebLinkAboutA007 - Title Opinion dated February 18, 1998 E
H IELD
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Refer to our File Number
February 18, 1998
Mr. James R. Crotty
President, Silverado Ranch Estates, Inc.
Box 1868
Ames, Iowa 50010
Story County Board of Supervisors
Story County Courthouse
900 6th Street
Nevada, Iowa 50201
Re: Title Opinion No. 14171
Fifth Addition to Country Estates Subdivision
Dear Mr. Crotty and the Board of Supervisors:
Pursuant to your request, we have examined the abstract of title in one part, commencing
with root of title, and terminating with abstract No. 52533 in final form prepared by Cyclone
Abstract and Title Company, purporting to reflect matters of record pertaining to the
following-described property situated in Story County, Iowa, to-wit:
See Exhibit "A" attached hereto;
to the 30th day of January, 1998, at 8:00 a.m. and certify that, as of the date of the last
continuation of the abstract, title appears to be vested of record in:
Silverado Ranch Estates, Inc.;
subject to the following restrictions and limitations:
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WHI'ff IELD & EDDYPL.C.
At-1-ORNEYS AND COUNSELORS AT LAW
Page 2
February 18, 1998
INTERESTS IN THE SUBJECT REAL ESTATE
1. All general taxes are shown as paid in full to and including taxes payable for the
fiscal year of July 1, 1996, to June 30, 1997. Regular taxes certified to the Treasurer, Story
County, Iowa, July 1, 1997, are shown as follows: first installment of $491.00 paid, and
second installment of $491.00 remains unpaid, but not delinquent.
2. The pencil notes reflect that appropriate searches for personal liens have been
made against the following individuals or entities and reports no adverse findings:
James R. Crotty
Silverado Ranch Estates, Inc.
LIMITED INTERESTS IN THE SUBJECT REAL ESTATE
3. The real estate under examination is subject to the following:
Reported at entry 45 of the abstract is noted a plat of the Fourth Addition to
Country Estates Subdivision, Story County, Iowa ("Fourth Addition"), which
plat includes Outlots J and I, which are part of the property under examination.
• The plat of the Fourth Addition includes, among other filings of record, Building
Restrictions and Protective Covenants, dedications of property to the public, and
an agreement between school districts regarding district boundaries.
In addition, at entry 46 of the abstract is shown an Easement for Utilities with
respect to thg Fourth Addition, as Instrument No. 96-00520 recorded in the
office of the Story County, Iowa Recorder.
The abstract, at the same entry, shows an existing 50 foot Overhead Electrical
Easement over part of Outlots J and I in the Fourth Addition.
4. The abstract reflects at entry 47 a Water Service Agreement to which Outlots J
and I of the Fourth Addition to Country Estates Subdivision, Story County, Iowa, appear to
be subject.
5. Entry 49 of the abstract states that the zoning classification of the real estate
under examination is A-2, which is an agricultural district. The examiner believes the
abstract to be in error and that the subject real estate is located in a zoning district designated
as AR, which is Agricultural/Residential. To ascertain the correct zoning classification and .
requirements thereof for this property, including the requirements pertaining to the
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WHITFIELD & EDDYP L.C.
ATTORNEYS AND COUNSELORS AT LAW '
Page 3
February 18, 1998
Certificate of Occupancy, you may contact the appropriate public officials of Story County,
Iowa.
You should ascertain that the intended use of the subject real estate is not in conflict with
any easements, covenants, restrictions, or applicable ordinances.
6. This title opinion is subject to our standard exceptions attached hereto and by
this reference incorporated herein.
Respectfully submitted,
WHITFIELD & EDDY, P.L.C.
By j&OW
Gary Norton
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FIFTH ADDITION TO COUNTRY ESTATES
SUBDIVISION, STORY COUNTY, IOWA
Survey Description - Fifth Addition to Country Estates Subdivision, Story
County, Iowa
A replat of Outlots I and J in the Fourth Addition to Country Estates Subdivision in the
North Half of the Southeast Quarter of Section 13, Township 84 North, Range 24 West of
the 5TH P.M., Story County, Iowa and part of the South Half of the Northeast Quarter,
except the West 345.81 feet and except Parcel 'A' and except Country Estates First
Addition and except the existing public road right of way all in Section 13, Township 84
North, Range 24 West of the 5TH P.M., Story County, Iowa, more particularly describe as
follows: Commencing at the East Quarter comer of said Section 13; thence N89°41'48W,
55.00 feet along the north line of the Northeast Quarter of the Southeast Quarter of said
Section 13 to the point of beginning; thence continuing N89°41'48"W, 1077.43 feet to the
Northeast corner of Outlot I in the Fourth Addition to Country Estates Subdivision, Story
County, Iowa; thence S00003'54"W, 1169.22 feet to the Southeast corner of said Outlot I;
thence along the southerly line of Outlots I and J, N89°41'27W, 312.52 feet; thence
S38°12'09"W, 166.54 feet to the right of way curve of the cul-de-sac on Quail Ridge Road;
thence northwesterly, westerly and southwesterly 87.09 feet along the right of way curve
concave to the south, having a radius of 55.00 feet and a central angle of 90043'17" to the
south line of the Northwest Quarter of the Southeast Quarter of said Section 13; thence
N89°50'34"W, 1039.68 feet to the Southwest corner of the Northwest Quarter of the
Southeast Quarter of said Section 13; thence N00007'49"E, 1259.41 feet along the west
line of the Northwest Quarter of the Southeast Quarter of said Section 13; thence
S89041'48"E, 345.81 feet; thence N00007'49"E, 54.00 feet to the south line of the
Southwest Quarter of the Northeast Quarter of said Section 13; thence NW07'53"E,
1310.12 feet to the north line of the South Half of the Northeast Quarter op said Section
13; thence S89043'31"E, 1757.91 feet along said north line to the Northwest:corner of
Parcel 'A' in the Southeast Quarter of the Northeast Quarter of said Section 13; thence
S00023'43'W, 336.15 feet along the west line of said Parcel 'A' to the northwesterly line of
Country Estates First Addition to Story County, Iowa; thence along the westerly and
Southerly boundary of Said Country Estates First Addition S39"43'41"W, 30.48 feet;
thence S21 01616"W, 210.45 feet; thence S32°33'14"E, 155.70 feet; thence S62017'29"E,
202.65 feet; thence N81010'41"E, 338.36 feet to the west right of way line of North Dayton
Avenue; thence S00014'42"E, 584.40 feet along said west right of way line to the point of
beginning, containing 103.42 acres.
EXHIBIT "A"
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WHITFIELD & EDDY, P.L.C.
STANDARD EXCEPTIONS TO TITLE OPINIONS
1. This opinion is provided to the persons or entities identified as the addressees of this opinion,and it is not to be relied
upon by any other person or entity.
2. If this opinion is based upon an abstract continuation in pencil note form, it should be observed that pencil notes are
not certified by the abstracter and we cannot be bound by this opinion unless or until we examine a completely bound and typed
abstract that has been certified by the abstracter which does not include pencil notes. We, therefore, reserve the right to
reexamine the abstract in final form before rendering a final opinion.
3. This opinion is confined to an examination of(lie abstract only,and the opinion as to record title, interests,and limited
interests is premised upon what appears of record therein. This opinion is made subject to exceptions reserved by the abstracter
in preparing the above-referenced abstracts.
4. This opinion may be prepared pursuant to the Iowa 40-Year Marketable Title Act(Iowa Code §§ 614.29 to 614.38).
5. No visual inspection of the property has been made. Certain items cannot be determined by examination of the
abstract. Your attention is, therefore, called to the fact that you are required to take notice of the following potential
encumbrances on the real estate under examination:
(a) The rights of all persons in possession of the real estate other than the titleholders of record.
(b) The rights of undisclosed spouses.
(c) The right to file mechanic's liens against the premises for labor or materials furnished in connection with improvements
thereon within 90 days from the furnishing of the last item of material or labor. In this regard, you should examine
the same and satisfy yourself that no labor or materials have been furnished for improvements within the last 90 days
or, if such improvements have been made, that all suppliers of labor or materials have been fully paid.
(d) Unidentified or unreported zoning and similar municipal ordinances.
• (e) Unreported bankruptcy proceedings. No opinion can be given concerning the effect of bankruptcy proceedings on title
to the real property.
(f) Forged or altered instruments.
(g) Any facts which would be disclosed by a visual inspection or by a survey which would identify physical use, location
of easements,boundary lines and improvements on the real estate subject to examination and on bordering real estate.
This opinion does notiassure correctness of boundary and lot lines.
(h) Real estate taxes and special assessments not yet spread on the county books and charges for municipal services,which
are not included in the abstract, that constitute a lien on the benefited property. It would be advisable to check with
the City Clerk, Board of Supervisors, or the County Auditor's office to determine if any resolutions of necessity for
special assessments have been adopted or charges have been assessed which pertain to the real estate under
examination.
(i) The abstract does not disclose the existence of hazardous substances, pollutants, contaminants, hazardous waste,
underground storage tanks, drainage wells, active or abandoned water wells, and other environmentally regulated
activities. You are cautioned that federal, state, and local regulations may, in the event that there are environmental
and/or public health violations, permit injunctive relief and require removal and remedial actions or other "clean-up
activity." The costs of such "clean-up" may become a lien against the real estate under examination, and you may
have personal liability even though you may not have disposed of such hazardous substances,pollutants,contaminants,
or hazardous waste on the real estate under examination or used any underground storage tanks or wells. In this
regard you should satisfy yourself that there are no potential environmentally hazardous substances on the real estate
under examination that would subject you to liability for environmental clean-up.
0) Unrecorded purchase money liens.
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