HomeMy WebLinkAboutA001 - Letter from Davis Brown Law Firm dated November 20, 2015 x
D ISi RO� br w Miller
AVl BJMiller@davisonlaw.com
phone:515-246-7877
West Des Moines Office
November 20, 2015
Ladies and Gentlemen:
I
We have examined an Abstract of Title commencing with the Root of Title entry and ending with
Abstract No. 1511093162 prepared by Abstract & Title Services of Story County and certified that it
reflects all matters up to November 10, 2015, at 8:00 a.m. and relating to the following property:
Parcel "A" in the Northwest Quarter of the Northeast Quarter of Section 23, Township 83
North, Range 24 West of the 5th P.M., City of Ames, Story County, Iowa, as shown on
the Plat of Survey filed on May 5, 1995, at Inst.No. 95-03532, and in Book 13, Page 59.
To be known after platting as Crown Point Subdivision,Ames, Story County, Iowa.
As of that date and time, we find from our examination that good and marketable title to the property
described above is held by:
616 Billy Sunday Road, L.C.
EXCEPT THAT it is subject to the following:
1. RESTRICTIVE COVENANTS. There is shown Restrictive Covenants in the Plat for
Jewel Park Subdivision Plat 2 dated April 1, 1997, filed April 29, 1997, in Instrument No. 97-04103.
2. DECLARATION OF SUBMISSION OF PROPERTY TO HORIZONTAL
PROPERTY REGIME FOR CROWN POINT CONDOMINIUMS. There is shown a Declaration of
Submission of Property to Horizontal Property Regime for Crown Point Condominiums dated October
16, 2003, filed December 18, 2003, in Instrument No. 03-25081 and Corrected and Substituted Exhibit B
Schedule of Fractional Ownership Interest to Declaration of Submission of Property to Horizontal
Property Regime for crown Point Condominiums dated April 5, 2004, filed April 6, 2004, in Instrument
No. 04-04004.
Crown Point Subdivision would re-describe the underlying real estate on which the above
condominium regime is located and upon which the units and common elements are located. Units 1-8
Jewel Drive will be located on Lot 1 Crown Point Subdivision and Units 1-8 215 Jewel Drive will be
located on Lot 2 Crown Point Subdivision.
3. MORTGAGE. There is shown a mortgage dated September 29, 2010, filed September
30, 2010, in Instrument No. 10-09496, from 616 Billy Sunday Road, L.C. to First National Bank
Midwest, , to secure the sum of$1,932,777.00, due and payable according to the terms and conditions of
a promissory note of even date therewith. Said Mortgage remains unsatisfied of record and you must
obtain the mortgagee's consent to your plat.
#2660254
DAV!S BROWN kOEHN SHC)RS S ROBERTS PC-
g. S
FIRM FAX 5 15.243.0654 THE HIGHLAND BUILDING,
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4. UCC FINANCING STATEMENT. There is shown a UCC Financing Statement filed
September 30, 2010, in Instrument No. 10-09497, from 616 Billy Sunday Road, L.C. to First National
Bank Midwest n/k/a TruBank, and amended by a Financing Statement Amendment filed September 20,
2013, in Instrument No. 13-11404 from 616 Billy Sunday Road, L.C. to TruBank
5. REAL ESTATE TAXES. Real estate taxes for fiscal year 2014-2015 (payable in 2015-
2016)are as follows: first installment-paid, second installment—due, but not delinquent.
6. SEARCHES. The abstracter has conducted ten-year judgment lien searches against the
owners and nothing is shown except as set forth above.
GENERAL MATTERS.
(a) This Opinion is prepared for purposes of complying with Section 354.11 of the Iowa
Code and only shows information of record that is required by Section 354.11.
(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 assessments 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.
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Pace
Sincerely,
DAVIS, BROWN, KOEHN, SHORS & ROBERTS, P.C.
13.J. Miller