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HomeMy WebLinkAboutA028 - Title Opinion dated October 5, 2006 LAW OFFICES BELIN LAMSON McCORMICK ZUMBACH FLYNN A Professional Corporation THE FINANCIAL CENTER 666 WALNUT STREET SUITE 2000 DES MOINES,IA 50309-3989 Telephone: (515)243-7100 Telecopier(515)283-4678 Platting Opinion October 5, 2006 City of Ames Iowa Department of Planning&Housing 515 Clark Avenue PO Box 811 Ames,IA 50010 RE: Wal-Mart's Subdivision,First Addition This is to certify that I have examined the abstracts of title prepared and described below, which in aggregate cover the land to be platted as Wal-Mart's Subdivision, First Addition, Ames, Story County, Iowa,and legally described in Exhibit A hereto: 1. Abstract and Title Services of Story County, No. 0609151770 containing entries No. 157 through No. 160 continued to September 14, 2006 at 8:00 a.m. covering the following-described real estate: Parcel "AH", a part of the Northwest Quarter (NW %4) of the Southeast Quarter (SE 1/4) and part of the Southwest Quarter (SW 1/4) of the Northeast Quarter(NE 1/4) of Section Eleven, (11), Township Eighty-three (83) North, Range Twenty-four(24) West of the 5thP.M.,Story County, Iowa, as shown on the "Plat of Survey" filed in the office of the Recorder, Story County, Iowa on January 27, 2006, as Inst. No. 06-01039, Slide 270, Page 1 (hereinafter, the Garden Spot Parcel"); and 2. Abstract and Title Services of Story County, No. 0610021888 containing entries No. 64 through No. 66 continued to September 28, 2006, at 8:00 a.m. covering the following-described real estate: Parcel "AF",part of the South Half(S 1/2) of the Northeast Quarter(NE 1/4)of Section Eleven (11), Township Eighty-three (83) North, Range Twenty-four (24) West of the 5th P.M.,Story County, Iowa, as shown on the "Plat of Survey" filed in the office of the Recorder, Story County, Iowa, on January 27, 2006 as Inst. No. 06-01039, Slide 269, Page 5 (hereinafter, the "Crane Parcel"); and 3. The Service Abstract Company, No. 0609271836 containing entries No. 20 through No. 31 continued to September 28,2006 at 8:00 a.m. covering the following described real estate: Pg. I? Parcel"AE"of Plat of Survey recorded as Document No.2006-00001038 on January 27,2006 on Slide 269, Page 3 (the "Asgrow Parcel"), as shown in said abstract of title No. 0609271836 covering the following described real estate: The South 20 Acres of the S 1/2 of the NE 1/4 and the N 1/2 of the SE 1/4 of Section 11,Township 83 North,Range 24 West of the 5th P.M.,Story County,Iowa,except the following described parcels: a. Except beginning at the NW corner of the South 20 Acres of the S 1/2 of the NE 1/4,of Section 11,Township 83 North,Range 24 West of the 5th P.M., Story County,Iowa,thence South 580 feet,thence East 415 feet,thence North 580 feet,thence West 415 feet to the point of beginning; and b. Except beginning at a point 269.4 feet South of the center of Section 11,Township 83 North, Range 24 West of the 5th P.M., Story County, Iowa, thence East 398 feet, thence South 150 feet,thence West 398 feet,thence North 150 feet to the point of beginning; and c. Except beginning at a point 419.4 feet South of the center of Section 11,Township 83 North, Range 24 West of the 5th P.M., Story County, Iowa, thence South 89' 17' East 398 feet; thence South approximately 321 feet to a point in the center of Squaw Creek as it now exists, thence Northwesterly along the center of Squaw Creek to a point where the said Creek now intersects the center of Highway No. 69, thence North approximately 296 feet to the point of beginning; and d. Except beginning at a point 278.5 feet North of the SW corner of the NW 1/4 of the SE 1/4 of said Section 11,thence East 190.45 feet, thence North 16 feet, thence East 429.55 feet, thence North to a point in the center of Squaw Creek, thence Northwesterly along the center of said Squaw Creek to the quarter section line in the approximate center of U.S. Highway 69, where the same intersects with the center of said Squaw Creek, thence South along the Quarter section line, which is the approximate center line of U.S. Highway 69, to the point of beginning; subject to an easement for driveway purposes over a strip 10 feet wide in a North and South direction lying North of and adjacent to.the above described 190.45 feet distance and including an easement for road purposes over a strip of land 10 feet in width in a North and South direction lying South of and adjacent to the above described 190.45 feet distance; and e. Except commencing at the center of Section 11, Township 83 North, Range 24 West of the 5th P.M., Story County, Iowa, thence South on the quarter section line (approximately the center of U.S. Highway 69) 690.4 feet, thence South 891 25' East 620 feet, thence South parallel to the quarter section line 260.3 feet to the point of beginning; thence North 760 45' East 428.1 feet, thence North 890 12'East 1,108.5 feet, thence South 30'08'East 362.4 feet, thence North 880 37' West 1,707.8 feet, thence North parallel to the quarter section line 158.9 feet to the point of beginning; and f. Except commencing at the NW corner of the South 20 acres of the S 1/2 of the NE 1/4 of Section 11, Township 83 North, Range 24 West of the 5th P.M., Story County, Iowa; thence South 89' 11' East 415 feet to the point of beginning; thence continuing South 890 11' East 700 feet; thence South 522.6 feet,thence North 89' 11'West 700 feet; thence North 522.6 feet to the point of beginning,containing 8.397 acres,more or less;and g. Except commencing at the center of Section 11, Township 83 North, Range 24 West of the 5th P.M., Story County, Iowa; thence South 89' 11' East 415.0 feet; thence South 192 feet; thence -2- �g . lq South 890 11'East 29.0 feet to the point of beginning; thence continuing South 89° 11'East 242.0 feet; thence South 180.0 feet; thence North 89' 11'West 242.0 feet; thence North 180.0 feet to the point of beginning,containing 1 acre more or less;and h. Except all that part of the N 1/2 of the SE 1/4 of Section 11, Township 83 North, Range 24 West of the 5th P.M., Story County, Iowa,lying South of Squaw Creek, 4. Abstract and Title Services of Story County,No. 0609151769 containing entries No. 104 through 106 continued to September 14,2006, at 8:00 a.m. covering the following-described real estate: Parcel "AA" in the Southwest Quarter (SW 1/4) of the Northeast Quarter (NE 1/4) and in the Northwest Quarter(NW 1/4)of the Southeast Quarter(SE 1/4)of Section Eleven(11),Township Eighty-three (83) North, Range Twenty-four (24) West of the 5th P.M., in the City of Ames, Story County, Iowa, as shown on the "Plat of Survey" filed in the office of the Recorder, Story County,Iowa on May 20, 2003 as Inst.No. 03-09980, Slide 166,Page 4(hereinafter, the"Ward Development Parcel"); and 5. Abstract and Title Services of Story County, No. 0609151768 containing entries No. 64 through 69 continued to September 14,2006 at 8:00 a.m.covering the following-described real estate: Parcel "AY', a part of Parcel "R", a part of the North Half (N 1/2) of the Southeast Quarter(SE 1/4)and part of the South Half(S 1/2) of the Northeast Quarter(NE 1/4) of Section Eleven, (11), Township Eighty-three (83) North, Range Twenty-four (24) West of the 5th P.M.,Story County, Iowa, as shown on the "Plat of Survey" filed in the office of the Recorder, Story County, Iowa on January 27, 2006, as Inst. No. 06-01039, Slide 270,Page 1 (hereinafter,the "Wendy's Parcel"); and 6. Story County Title, Inc., f/k/a Batman-Sayers Abstract Company, No. 100158 containing entries No. 123 through 127 continued to September 15, 2006 at 8:00 a.m. covering the following described real estate: Commencing at the Northwest (NW) Corner of the South Twenty (20) Acres of the South Half (1/2) of the Northeast Quarter (NE 1/4) of Section Eleven (11), Township Eighty-three (83) North, Range Twenty-four (24) West of the 5th P.M.,in the City of Ames, Story County, Iowa, thence S 89°11' E Three Hundred Twenty(320) Feet, thence N 00°04' E Eighty-one and Ninety- five Hundredths (81.95)Feet, thence S 88°10'E One Hundred Fifty-one and Five Tenths (151.5) Feet to the point of beginning, thence N 00°03'W Two Hundred Two and Seven Tenths (202.7) Feet to the South right of way line of South Fifth Street in the City of Ames,Iowa,thence S 89'1 F E along said right of way One Hundred (100) Feet, thence S 00°03' E Two Hundred Two and Seven Tenths (202.7) Feet thence N 89°1 F W One Hundred(100) Feet to the point of beginning (hereinafter,the"Meyers Family Parcel"); and and based upon the aforementioned abstracts I report title to the Garden Spot Parcel, the Crane Parcel, and the Asgrow Parcel in the name of: WAL-MART STORES,INC. and based upon the abstract I report title to the Wendy's Parcel as hereinbefore described, in the name of -3- 1� . ao GARDEN SPOT REAL ESTATE,an Iowa general partnership and based upon the abstract I report title to the Meyers Family Parcel as hereinbefore described, in the name of MEYERS FAMILY INVESTMENTS,LLC.,an Iowa limited liability company and based upon the abstract I report title to the Ward Development Parcel as hereinbefore described,in WARD DEVELOPMENT,L.C.,an Iowa limited liability company subject to the following: SECTION A. TITLEHOLDERS: 1. LIMITED LIABILITY COMPANY TITLEHOLDERS: a. MEYERS FAMILY INVESTMENTS, LLC: The Articles of Organization for the titleholder do not appear of record in Story County,Iowa. b. WARD DEVELOPMENT, L.C.: The Articles of Organization for this titleholder do not appear of record in Story County, Iowa. With regard to both of the above-named titleholders,I require that either(1)if the titleholder is managed by its members, then any member may sign the deed if the transaction is in the ordinary course of business,and if not,then all members must sign unless otherwise provided in the articles; and(2)if the titleholder is managed by managers,then any manager may sign the deed if the transaction is in the ordinary course of business, if not, then the manager and all members must sign the deed, unless otherwise provided in the articles or a management agreement. 2. GENERAL PARTNERSHIP TITLEHOLDER: Garden Spot Real Estate is an Iowa general partnership. Its Partnership Agreement was recorded August 23, 1996 as Inst. No. 96-08853. I require that any instruments of conveyance or Consent to Plat be executed by"Majority in Interest" of its General Partners,as provided in the Partnership Agreement. 3. CORPORATE TITLEHOLDER: WAL-MART STORES, INC. The articles of incorporation of this corporation do not appear in the Story County, Iowa records. I require that all consents to plat, easements, and right-of-way conveyances be executed by authorized officers of the titleholder, and that proper corporate acknowledgements be attached to such instruments. SECTION B. WAL-MART PARCELS (For purposes hereof, the Garden Spot Parcel, the Crane Parcel, and the Asgrow Parcel are collectively referred to as the"Wal-Mart Parcels): Garden Spot Parcel: 4. PLAT OF SURVEY(PARCEL AE): At Entry No. 24 of Asgrow Abstract there appears a Plat of Survey establishing Parcel "AE", recorded as Inst. #06-00001038 of the Story County, Iowa records. A copy of the Plat of Survey as it appears in the abstract is attached hereto and should be reviewed for setback requirements, easements, location, area, access to public streets and other matters affecting the property- -4- . a 1 5. AGREEMENT REGARDING WELL FIELD: At Entry No. 15 of the Asgrow Abstract there appears an Agreement between the City of Ames and Asgrow Seed Company recorded April 9, 1986, in Book 233, Page 122 of the Story County, Iowa records, concerning the City's acquisition (in lieu of condemnation of certain rights to establish a well field in a portion of the larger property then owned by Asgrow Seed Company. 6. FENCE EASEMENT: At Entry No. 26 of the Asgrow Abstract there appears an Easement Agreement dated January 12, 2006, recorded January 27, 2006 as Inst. #06-00001044. Said Easement Agreement is for the benefit of the Wal-Mart Parcel, and provides for an easement for the erection, maintenance, and repair of a chain link fence along the common boundary of the Asgrow Parcel (as described above and as now owned by Wal-Mart) and the adjacent property retained by Asgrow Seed Company,LLC. Garden Spot Parcel: 7. PLAT OF SURVEY (PARCELS AH and AJ): At Entry No. 146 of the Garden Spot Abstract there appears a Plat of Survey covering Parcel AH and Parcel AJ (the Wendy's Parcel)recorded as Inst. No. 06-01040, Slide 270, Page 1. A copy of the Plat of Survey as it appears in the abstract is attached hereto and should be reviewed for setback requirements,easements,location, area, access to public streets and other matters affecting the property. 8. DECLARATION OF RESTRICTIVE COVENANTS: At Entry No. 149 of the Garden Spot Abstract there appears a Declaration of Restrictive Covenants affecting Parcel AH and Parcel AJ, dated January 20, 2006, recorded February 2, 2006 as Inst. No. 06-01427, providing for restrictions on the use of the respective parcels,and cross-easements for access and vehicular parking. 9. ENTRANCE PERMIT: At Entry No. 2 of Abstract #12791 there appears a Type B Entrance Permit dated August 23, 1971, recorded December 1, 1971 in Book 117, Page 185 of the Story County, Iowa records. 10. AGREEMENT FOR INGRESS AND EGRESS: At Entry No. 33 of Abstract No. 39722 there appears an Agreement providing rights of ingress and egress over the Garden Spot Parcel for the benefit of the adjacent Dale Builders, Inc. property. This Agreement was recorded August 5, 1986 in Book 238, Page 175 of the Story County, Iowa records. 11. EASEMENT: At Entry No. 33 of Abstract No. 39722 there appears an easement for storm water recorded August 13, 1986 in Book 238,Page 301 of the Story County, Iowa records. 12. EASEMENT: At Entry No. 72 of Abstract No. 990415381 there appears an Electric Utility Easement recorded August 2, 1995 as Inst.No. 95-06509. Crane Parcel: 13. PLAT OF SURVEY: At Entry No. 55 of the Crane Abstract there appears the Plat of Survey for Parcel AF, recorded as Inst. No. 06-01039. A copy of the Plat of Survey as it appears in the abstract is attached hereto and should be reviewed for setback requirements, easements, location, area, access to public streets and other matters affecting the property. -5- pg. a a 14. RIGHT OF WAY PERMIT. At Entry No. 37 of Abstract No. 52330 there appears a Right of Way Permit and Easement granted to the City of Ames,recorded January 29, 1997 as Inst.No. 97-00941. It is not possible from an examination of the abstract to determine if this easement affects the Crane Parcel. 15. RESTRICTIVE COVENANTS: At Entry No. 49 of Abstract No. 66763 there appears a Covenant of Restrictions Agreement entered into with Dayton Hudson Corporation (Target Stores) dated May 29, 1998, recorded June 1, 1998 as Inst. No. 98-07134, establishing certain use restrictions on the Crane Parcel. 16. ZONING: At Entry No. 55 of Abstract No. 0603210402 there appears Ames Ordinance No. 3863, recorded January 3, 2006 as Inst. No. 06-00038, classifying the Crane Property and the Asgrow Parcel as"HOC"(Highway Oriented Commercial). SECTION C. WENDY'S PARCEL: 17. PLAT OF SURVEY(PARCELS AH and AJ): At Entry No. 59 of the Wendy's Abstract there appears a Plat of Survey covering Parcel AH (thee Garden Spot Parcel) and Parcel AJ (the Wendy's Parcel)recorded as Inst. No. 06-01040, Slide 270, Page 1. A copy of the Plat of Survey as it appears in the abstract is attached hereto and should be reviewed for setback requirements, easements, location, area, access to public streets and other matters affecting the property. 18. DECLARATION OF RESTRICTIVE COVENANTS: At Entry No. 60 of the Wendy's Abstract there appears a Declaration of Restrictive Covenants affecting Parcel AH and Parcel AJ, dated January 20, 2006, recorded February 2, 2006 as Inst. No. 06-01427, providing for restrictions on the use of the respective parcels,and cross-easements for access and vehicular parking. 19. ENTRANCE PERMIT: At Entry No. 15 of the Wendy's Abstract there appears a Type B Entrance Permit dated August 23, 1971, recorded December 1, 1971 in Book 117, Page 185 of the Story County, Iowa records. 20. AGREEMENT FOR INGRESS AND EGRESS: At Entry No. 19 of the Wendy's Abstract there appears an Agreement providing rights of ingress and egress over the Garden Spot Parcel for the benefit of the adjacent Dale Builders, Inc. property. This Agreement was recorded August 5, 1986 in Book 238,Page 175 of the Story County,Iowa records. 21. EASEMENT: At Entry No. 58 of the Wendy's Abstract there appears an easement for sanitary sewer right-of-way recorded May 14,2003 as Inst.No.03-09518 of the Story County, Iowa records. 22. EASEMENT: At Entry No. 37 of the Wendy's Abstract there appears an Electric Utility Easement recorded August 2, 1995 as Inst.No. 95-06509. 23. MORTGAGE: At Entry No. 55 of the Wendy's Abstract there appears a Mortgage in the original principal amount of$1,000,000.00 granted to F&M Bank, filed September 24, 2002 as Inst.No. 02-14570. I require that said mortgagee execute a consent to plat. 24. ASSIGNMENT OF RENTS: At Entry No. 56 of the Wendy's Abstract there appears an Assignment of Rents granted to F & M Bank, recorded September 24, 2002 as Inst. No. 02-14571. See requirement as to Objection No.24. -6- P9 . a3 25. CONSTRUCTION MORTGAGE: At Entry No. 57 of the Wendy's Abstract there appears a Construction Mortgage in the original amount of up to$870,188.00 dated November 22, 1002 in favor of F&M Bank-Iowa, recorded December 6, 2002 as Inst.No. 02-19753 of the Story County, Iowa records. I require that said mortgagee execute a consent to plat. SECTION D. WARD DEVELOPMENT PARCEL: 26. ENTRANCE PERMIT: At Entry No. 47 of the Ward Development Abstract there appears a Type B Entrance Permit dated August 23, 1971,recorded December 1, 1971 in Book 117,Page 185 of the Story County,Iowa records. 27. PLAT OF SURVEY: At Entry No. 95 of the Ward Development Abstract there appears the Plat of Survey of Parcel AA,recorded May 20,2003 as Inst.No. 03-09980, Slide 166,Page 4. 28. ZONING: At Entry No. 91 of the Ward Development Abstract there appears Zoning Ordinance No. 3557, recorded May 3, 2000 as Inst. No. 00-04606, classifying the subject property as"HOC"(Highway Oriented Commercial). SECTION E. MEYERS FAMILY PARCEL 29. ENTRANCE PERMIT: At Entry No. 9 of Abstract #34641 there appears a Type B Entrance Permit dated August 23, 1971, recorded December 1, 1971 in Book 117, Page 185 of the Story County, Iowa records. 30. AGREEMENT FOR INGRESS AND EGRESS: At Entry No. 40 of Abstract No. 970129044 there appears an Agreement providing rights of ingress and egress for the benefit of the adjacent Dale Builders, Inc. property. This Agreement was recorded August 5, 1986 in Book 238, Page 175 of the Story County, Iowa records. 31. EASEMENT: At Entry No. 41 of Abstract No. 970129044 there appears an easement for storm water recorded August 13, 1986 in Book 238,Page 301 of the Story County,Iowa records. 32. MORTGAGE: At Entry No. 119 of the Meyers Family Abstract there appears a Mortgage in the original principal amount of$650,000.00 granted to Ames Community Bank, filed April 23, 2004 as Inst. No.04-04932. SECTION F. TAXES 33. REAL ESTATE TAXES—2005-2006: ASGROW PARCEL: Parcel 09-11-227-030: first installment$86.00 paid; second installment$86.00 paid. Parcel 09-11-400-060: first installment$76.00 paid; second installment$76.00 paid. GARDEN SPOT PARCEL (Same as Wendy's Parcel): Parcel 09-11-251-080: first installment$24,175.00 paid; second installment$24,175.00 paid. CRANE PARCEL: -7- Pg. a 4 Parcel 09-11-275-070: first installment$3,326.00.00 paid; second installment$3,326.00 paid. WENDY'S PARCEL(same as Garden Spot Parcel): Parcel 09-11-251-080: first installment$24,175.00 paid; second installment$24,175.00 paid. WARD DEVELOPMENT PARCEL: Parcel 09-11-251-045: first installment$43,580.00 paid; second installment$43,580.00 paid. MEYERS FAMILYPARCEL: Parcel 09-11-251-025: first installment$7,808.00 paid; second installment$7,808.00 paid. SECTION G. SEARCHES 34. SEARCHES: No new searches have been made against anyone outside the chains of title. There appears no liens against the present titleholder except as may be noted in this opinion. This opinion is prepared for platting purposes in accordance with Iowa Code Section 354.11(3) (2005) and for no other purpose. Very truly yours �xg 4�— William D.Bartine For the Firm wDB:cj d:40541\06\opn-platting woj.doc -8- P0. a� EXHIBIT A LEGAL DESCRIPTION Ames,Iowa Wal-Mart DESCRIPTION:Total Tract(Subdivision Plat) A tract of land being all of Parcel"AA"of Plat of Survey recorded as Document No. 03-09980 on May 20,2003,all of Parcel"AE"of Plat of Survey recorded as Document No.2006-00001038 on January 27,2006 on Slide 269,Page 3,all of Parcel"AF"of Plat of Survey recorded as Document No.2006-00001039 on January 27,2006 on Slide 269, Page 5,all of Parcel"AJ"and Parcel"AH"of Plat of Survey recorded as Document No. 2006-00001040 on January 27, 2006 on Slide 270, Page 1, all in the Story County Recorder of Deeds Office all being part of the Northwest Quarter of the Southeast Quarter and part of the Southwest Quarter of the Northeast Quarter of Section 11, Township 83 North,Range 24 West of the 5th P.M.,City of Ames, Story County,Iowa to wit: Beginning at a found PK Nail at the Southwest Comer of said Northeast Quarter,thence along the west line of said Northeast Quarter N00°-33'-24"W 329.87 ft. to a point; thence leaving said west section line S89°-59'-42"E 318.73 ft. a found survey post;thence N00°-20'-44"W 79.83 ft. to a found survey post;thence S89°-58'-30"E 151.93 ft. to a found iron rod; thence N00°-34'-29"W 202.77 ft. to a found iron rod on the south right-of-way line of S.E. Fifth Street, thence along said south right-of-way line S89°-56'-16"E 100.01 to a found iron rod, thence S891-54'-45"E 133.15 to a found iron rod, thence S89°-54'-18"E 72.64 ft. to a found iron rod at the Southeast Corner of said S.E. Fifth Street; thence along the east line of said S.E. Fifth Street North 40.01 ft. to a found iron rod, thence N00°-05'-28"W 39.98 ft.to a found iron rod at the northeast corner of said S.E.Fifth Street;thence leaving said east right-of-way line along a curve deflecting to the left having a radius of 300.00 ft.,an arc length of 165.14 ft.,a chord bearing of N74°-23'-43"E,a chord distance of 163.06 ft.to a set iron rod;thence along a curve deflecting to the right having a radius of 380.00 ft., an arc length of 205.51,a chord bearing of N74°-07'-09"E, a chord distance of 203.01 ft. to a set iron rod; thence N89°-36'-44"E 190.19 ft. to a set iron rod on the East line of the Southwest Quarter of said Northeast Quarter;thence along said east line SOO°-23'-16"E 80.01 ft.to a found iron rod,thence S00°-20'-04"E 400.07 ft. to a found iron rod,continue thence along said east line and the east line of the Northwest Quarter of said Southeast Quarter S00°-29'-54"E 695.44 ft.to a set iron rod;thence leaving said east line N89"-33'-12"W 634.42 ft. to a set iron rod at the southeast comer of the Buford and Helen Day Trust Property, (Ames Rental); thence along the east line of said trust property N00-17'-26"W 180.02 ft. to a set iron rod; thence leaving said east line along the north line of said trust property and the westerly projection thereof N891-33'-12"W 270.42 ft.to a found survey nail; thence NO 1°-01'-41"W 92.11 ft. to a found concrete nail; thence N890-23'-06"W 414.10 ft. to a point on the west line of the Northwest Quarter of said Southeast Quarter; thence along said west line N00°-22'-33"W 99.26 ft.to the point of beginning,containing 25.33 acres. Subject to any and all easements,restrictions,conditions,etc.of record. -9- Pg . 0?