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Home My WebLink AboutA009 - Title Opinion - Attorney's Platting Opinion - dated August 10, 1998 , I • t DAVIS, BROWN, KOEHN, $HORS & ROBERTS, P.C. ATTORNEYS AND COUNSELORS AT LAW THE FINANCIAL CENTER 666 WALNUT STREET,SURE 2SOO DES MOINES,IOWA 50309-3993 DONALD 1.BROWN DAVID B.VAnSKKlL I VIRLV EVANS I KENT A.HUIINK TELEPHONE(515)288.2300 WILLIAM 1.KOEHN GINS R.LASUER M.DANIEL WATIRS MIINM KEN D.SHORS DEBORAH M.THARNISH CHRISTO►HER P.IANNES WAL SMITH FACSIMILE IS IS)243.0634 STEPHEN W.ROBERt3 BROW L.VART SHARON K.MALHEIRO DONALD A.WINE CABLE:DAVIS LAW WILLIAM R.KING KENT A.HERINK KRIS"DRUB SMITH A.1.CRUPIN1W ROBERT F.HOLZ IR. ROBERT 1.DOUGIAS.IR. WILLIAM A.BOATWRIGHT C.CARLETON FRIDERICI DENNIS 0.IERDE NICHOLAS H.ROBY THOMAS 1.HOUSER SALLY A.RFAVMY ROBERT A.GAMBLE MARK D.WALE KENDALL R.WATKINS WIWA M O.THOMAS MICHAEL G.KULIK WRY M.MYERS SCOTT M.BRENNAN DAVID W.DUNN AFFILIATED FIRM RICHARD E.RAMSAY STANLEY 1.THOMPSON IEANIE KUNKLE VAUDT LEAN MCN(R.DUNN VIUROS F.RICHARD THORN ION DAVID A.TANK DEBRA RECTENSAUGH►ETTIT OF tnu"NL THOMAS E.SALSBERY DAVID M.ERICKSON DIMS$R.CLATON - HOMA SOLICITORS FRANK I.CARROLL LORI TORGIRSON CHESSER MATTHEW E.LAUGHLIN HARIAN I.T1 BRUCE I.CAMMELL 10 ELLEN WHITNEY MARK L.$TIMBER I�01.11H 42 BEDfORO ROW K)NATHAN C.WILSON BECKY S.KNUTSON RIDITH R.LYNN ROES A.ARTHUR DAMS LONDON,ENGLAND WC1 R 41L PATRICIA A.SHOFF IULIE)OHNSON Mr'1EAN DANIEL A.ROSENBERG NTB•IMF STEVEN L.NELSON DAVID D.NELSON ALIA R.2APRUOSKY' •o+•ntoaAY Inauwn TELEPHONE I71.405•6)02 INOT LICENSED TO PRACTICE IN IOWAI August 10, 1998 ATTORNEY'S PLATTING OPINION Mayor Ted Tedesco and Members of the City Council City of Ames 515 Clark Ave. P.O. Box 811 Ames, Iowa 50010 Ladies and Gentlemen: We have examined Abstract of Title No. 980609593 commencing with the Root of Title, prepared by Abstract and Title Services of Story County, and certified that it reflects all matters up to July 29, 1998 at 8:00 a.m. and relating to the following property: Part of Lots 1, 2 and 3 in the subdivision of the Northwest Quarter of the Northeast Quarter and part of the Southwest Quarter of the Northeast Quarter of Section 11, Township 83 North, Rangy 24 West of the 5th P.M., Ames, Story County, Iowa, more particularly described as follows: Beginning at the Northeast corner of the Southwest Quarter of the Northeast Quarter of said Section 11; thence SOOD19'30"E, 171.22 feet along; the east line of the Southwest Quarter of the Northeast Quarter of said Section 11; thence N90D00'00"W, 540.87 feet; thence SOOD00'00"W, 523.48 feet to the south line of Southeast 5th Street extended easterly; thence N89D58'35"'W, 72.54 feet along said south line to the Southeast comer of said Southeast 5th Street and the east line of the west 699.5 feet of the South Half of the Northeast Quarter of said Section 11; thence N00059'31"W, 523.53 feet along said east line; thence N90D00'00"W, 380.43 feet to the west line of the east 224.5 feet of the west 544.5 feet of the Southwest Quarter of the Northeast Quarter of said Section 11; thence N00°32'30"W, 182.81 feet along said west line to the north line of the South Half of the Northeast Quarter of said Section 11 and the southeast corner of Lot 3 in the subdivision of h:lgmm21901.98 q�- 12400 8'� August 10, 4.998 Page 2 the Northwest Quarter of the Northeast Quarter of said Section 11; thence N89008'l l"W,279.49 feet along the south line of said Lot 3 to the east right of way line of Duff Avenue; thence N00°32`24"W, 254.00 feet along said east right of way line; thence NO3°4525"E, 80.08 1:eet along said east right of way line; thence N89°07'52"W, 1.00 feet along said east right of way line; thence N00032'24"W, 28.34 feet along said east right of way line; thence S57°56'11"E, 27.30 feet; thence S87°54'18"E, 107.90 feet; thence S90000'00"E, 143.93 feet to the west line of Lot 2 in the subdivision of the Northwest Quarter of the Northeast Quarter of said Section 11; thence N00°30'53"W, 8.50 feet along said west line of Lot 2; thence S90°00'00"E, 851.16 feet; thence S00°00'00"E, 366.61 feet to the south line of Lot 1 and the south line of the Northwest Quarter of the Northeast Quarter of said Section 11; thence S89°26'43"E, 155.58 feet along said south line to the point of beginning. As of that date and time, we find from our examination that good and marketable title to the property described above is held by: Dayton Hudson Corporation d/b/a Target Stores free and clear of all liens and encumbrances, except as follows: 1. MORTGAGE. There appears of record a Mortgage dated September 16, 1996, filed September 26, 1996, as Instrument No. 96-10423 of the Story County Recorder's Office, from Abrego Ames, Inc., Lois D. Walker Trust and Israel Family Limited Partnership to First National Bank, Ames, Iowa, secured by a portion of the property under exmmination to be known as Lot 1 and parts of Lot 2, Lot 3, and Southeast Third Street. 2. ASSIGNMENT OF RENTS AND LEASES. There appears of record an Assignment of Rents and Leases dated September 26, 1996, filed September 26, 1996, as Instrument No. 96-10422 of the Story County Recorder's Office, from Abrego Ames, Inc. to First National Bank, Ames, Iowa, which assigns rents and leases on a portion of the property under exmaination to be known as Lot I and parts of Lot 2, Lot 3, and Southeast Third Street. 3. LAND LEASE. There appears of record a Land Lease dated October 31, 1961, filed June 3, 1963, in Book 93, Page 613 of the Story County Recorder's Office between Warren E. Israel and Mary L. Israel, husband and wife, and J.B. Walker and Lois D. Walker, husband and wife, as Landlords, and Ames Realty Corp., as Tenant, for the lease of a portion of the property under exmaination to be known as Lot 1 and parts of Lot 3 and Southeast Third Street. There also appears of record a Supplemental Land Lease dated January 3, 1967, filed April 21, 1972, in Book 118, Page 254 of the Story County Recorder's Office between Warren E. Israel and Mary L. Israel, husband and wife, and J.B. Walker and Lois D. Walker, husband and wife, as Landlords, and Ames Realty Corp., as Tenant, to add a portion of the property under exmaination to be known as parts of Lot 1, Lot 2, Lot 3 and Southeast Third Street. �g�- 12400 (9) August 19, 1998 Page 3 + �. There also appears of record a Supplemental Land Lease and Rental Agreement dated July 24, 1997, filed May 23, 1997, as Instrument No. 97-05101 between the Israel Family Limited Partnership and Lois D. Walker Trust, as successor Landlords, and Abrego Ames, Inc., as successor Tenant. Said Supplemental Land. Lease and Rental Agreement supplements the Land Lease and Supplemental Land Lease by extending the expiration date to Febntary 9, 2012, subject to the option of the Tenant to extend for one additional period of ten years. There also appears of record a Mutual Termination of Land Lease and Rental Agreement, dated May 15, 1998, filed June 1, 1998, as Instrument No. 98-07138, between Dayton Hudson Corporation d/b/a Target Stores, as successor Landlord, and Abrego Ames, Inc., as Tenant, wherein the Land Lease, as supplemented, is terminated effective as of September 15, 1998, and the Tenant is to remove all improvements from the property prior to that date. 4. REAL ESTATE TAXES. All real estate taxes are paid in full up to and including the taxes for fiscal year 1996-1997. 5. EASEMENTS. Easements which affect the property under examination appear of record in the Story County Recorder's Office as follows: a) Electric Utility Easement to the City of Ames, Iowa, dated December 16, 1966, filed April 28, 1967, in Book 104, Page 627. b) Right of Way Permit and Easement to the City of Ames, Iowa, for electric utilities, dated November 13, 1956, filed December 4, 1956, in Book 80, Page 138. c) Riglit-of-Way Permit and Easement to the City of Ames, Iowa, dated March 13, 1961, filed July 1, 1961, in Book 89, Page 316. d) Right-of-Way Permit and Easement to the City of Ames, Iowa, dated August 14, 1991, filed October 16, 1991, in Book 314, Page 128. e) Right-of-Way Permit and Easement to the City of Ames, Iowa, dated January 21, 1997, filed January 29, 1997, as Instrument No. 97-00940. f) Right of Way Permit and Easement to the City of Ames, Iowa, dated July 24, 1961, filed July 31, 1961, in Book 89, Page 301. g) Right of Way Permit and Easement to the City of Ames, Iowa, dated January 22, 1997, filed January 29, 1997, as Instrument No. 97-00941. h) Electric Utility Easement to the City of Ames, Iowa, dated December 8, 1966, filed April 28, 1967, in Book 104, Page 630. q$�- 12400 (10� August. 10. 1998 Page 4 ement to the City of Ames Iowa, dated i A Right of Way Permit and Las a, g Y Y December 3, 1956, filed December 4, 1956, in Book 80, Page 137. j) Electric Utility Easement to the City of Ames, Iowa, dated July 20, 1995, filed August 2, 1995, as Instrument No. 95-06509. k) Access Agreement dated May 29, 1998, filed June 1, 1998, as Instrument No. 98-07135, wherein Darrell Crane, as Trustee of the Darrell R. Crane Revocable Living Trust, is granted an option to acquire an access easement. 1) Parking Easement Agreement dated June 9, 1998, filed June 10, 1998, as Instrument No. 98-07730, wherein Ted Sage and Dawn Sage, as Trustees of the Ted and Dawn Sage Revocable Trust, are granted a parking easement. 6. GENERAL MATTERS. (a) This Opinion is prepared for purposes of complying with Section 354.11 of the Iowa Code (1997). (b) This opinion does not cover matters which are not included in the abstract, and you should determine for yourself if any of the following items may be a problem: (1) Plat and boundary lines; (2) Parties in possession; (3) Special assessment, not yet certified with the County Treasurer; (4) Liens for charges for municipal services not yet certified with the County Auditor; (5) Zoning ordinances; (6) Personal property taxes against the titleholder in the county where the property is located, which are not assessed in the taxing district where the property is located; and (7) Labor or material furnished on the property within the last ninety (90) days which might become subject to mechanic's liens. qQ! 12400 (It) Augu*t 10, 1998 Page 5 a Sincerely, DAVIS, BROWN, KOEHN, SHORS & ROBERTS, P.C. GUy M. Myers �$�- 12400 (1Z)