HomeMy WebLinkAboutA003 - Letter from Hogan & Fisher dated January 22, 2003 LAW OFFICE
HOGAN & FISHER, P.L.C.
3101 INGERSOLL AVENUE
DES MOINES, IOWA 50312
(515) 279-9059
FAX (515) 277-5836
TIMOTHY C. HOGAN
THOMAS G. FISHER JR
RAEANN M. GUNS
January 22, 2003
City of Ames
515 Clark Street
Ames, Iowa 50010
RE: Bloomington Heights West Townhomes Plat 1
Gentlepersons:
Pursuant to Iowa Code S 354 . 11(3) (2001) , we have examined the
abstract of title showing record title from the government entry
and the root of title to and including January 8, 2003, at 8:00
A.M. , for the real estate located in Story County, Iowa and
described as follows:
Lots 13 - 38 and Outlot A in BLOOMINGTON HEIGHTS WEST
PLAT 1, an Official Plat in the City of Ames, Story
County, Iowa.
As of the date of the last continuation of the abstract, we certify
that record title to the real estate is vested in
BLOOMINGTON HEIGHTS WEST TOWNHOMES, L.C. ,
an Iowa limited liability company,
subject to the following:
1. Pursuant to Iowa Code S 354. 11(3) (2001) , we certify that
there are no mortgages, liens, or other encumbrances on the real
estate hereinabove described, except for:
a. Mortgage. There is a mortgage executed by Bloomington
Heights West Townhomes, L.C. in favor of Bankers Trust
Company, N.A. in the original principal amount of
$2, 700, 000. 00 dated August 28, 2002 and recorded
September 25, 2002 in the office of the Recorder of Story
County, Iowa as Instrument No. 02-14650.
b. Assignment of Rents and Leases. There is an Assignment
of Rents and Leases executed by Bloomington Heights West
Townhomes, L.C. in favor of Bankers Trust Company, N.A.
dated August 28, 2002 and recorded September 25, 2002 in
the office of the Recorder of Story County, Iowa as
Instrument No. 02-14651.
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City of Ames
July 30, 2002
Page -2-
2 . Real estate taxes for the fiscal year 2000-2001 and all
prior years are shown as paid in full on the property. Real estate
taxes for the fiscal year 2001-2002 are shown as paid for the first
half installment and due but not delinquent for the second half
installment in the amount of $581. The property is assessed as P-
05-28-200-430.
Insofar as this opinion is prepared pursuant to Iowa Code §
354 . 11 (3) (2001) , certain items such as utility easements have been
omitted from this opinion. This opinion is given strictly for
platting purposes, and no opinion is expressed herein with respect
to utility easements or similar matters that affect the property
under examination herein.
In issuing this opinion, I pass only on the title as shown in the
above-described description. I can give no report on (a) location
of all public utility lines that service the property and the
necessary easements therefor; (b) easements existing by virtue of
usage, as the same does not appear on the abstract; (c) location of
boundary lines; (d) stolen or forged documents; (e) rights of
undisclosed spouses; and (f) rights of parties in possession.
You should ascertain also that no improvements either in the form
of labor or materials, which have been placed on the premises in
the last ninety days, still remain unpaid, as they would constitute
liens without being shown of record.
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 under federal, 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 conditions,
and acquired the property without knowing about it.
No report is made by the abstracter of special assessments not yet
shown on the tax books of Story County, Iowa; and therefore, no
examination is made as to these. Special assessments against any
property within a municipality should be determined by checking
with the City Clerk of said municipality.
This opinion is rendered solely for the benefit of the addressee or
addressees named herein. No other persons shall be entitled to
rely upon the contents of this opinion or the conclusions expressed
City of Ames
July 30, 2002
Page -3-
herein without the prior written consent of the undersigned
examining attorney.
Sincerely,
Thomas G. Fisher Jr.
TGF:rr