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Home My WebLink AboutA001 - Preliminary Title Opinion by Galyon Law Office Galyon Law Office P.O. Box 1723 Ames, Iowa 50010 (515) 233-8850 May 16, 2016 City of Ames City Hall 515 Clark Avenue Ames, Iowa 50010 Re: Preliminary Title Opinion 896 S. 500th Avenue, Ames, Iowa To Whom it May Concern: I have examined the Abstract of Title to the property legally described as: A parcel of land in the Southwest Quarter(SW1/4) of Section Seven(7), Township Eighty-three (83)North, Range Twenty-four(24) West of the 5th P.M., Story County, Iowa, described as follows: Commencing at the West Quarter(WI/4) Corner of said Sec. 7, thence N 89°331/4 'E 110 feet on the North line of said Southwest Quarter(SW'/4)to the point of beginning, thence continuing N 89°331/4' E 2,706.15 feet on said North line to the center of said Sec. 7, thence S 00°143/4 W 1,424.35 feet on the East line of said Southwest Quarter(SWI/4)to a point 125 feet normally distant Northeasterly from the centerline of Relocated Primary Road No. U.S. 30, thence N 67°501/4' W 2,910.45 feet parallel to said centerline, thence N 00°51 I/z' W 305.3 feet to the point of beginning, containing 53.63 acres, more or less, EXCEPT Parcel "A" a part of the Northwest Fractional Quarter(NWfrl'/4) of the Southwest Fractional Quarter(SWfrl'/4) of Sec. 7- T83N-R24W of the 5th P.M., Story County, Iowa, as shown on the "Plat of Survey" filed in the office of the Recorder of Story County, Iowa on June 14, 2001, as Inst. No. 01-07642, Slide 98, Page 4. (Known locally as 896 S. 500th Avenue, Ames, Iowa.) The abstract consists of 37 entries beginning with the Root of Title, and is last certified by Abstract and Title Services of Story County, #1509032547 to February 2, 2016 at 2:28 p.m., together with a Pre-closing Search Certification dated May 12, 2016 at 8:00 a.m. Based on the abstract of title it is my opinion that as of the time last mentioned, title to the property is held by GW Land Holdings, LLC, a_Iowa Limited Liability Company virtue of a Warranty Deed dated January 5, 2016 and filed for record on February 2, 2016 as Inst. No. 16-00915, records of the Story County Recorder. Except that there are certain matters that could affect the rights of the titleholders to this property which are as follows: 1. MORTGAGE: At entry #35, there appears a Mortgage executed by GW Land Holdings, LLC,an Iowa Limited Liability Company to GNB Bank, dated February 1, 2016,filed February 2, 2016 as Inst.No. 16-00916, records of the Story County Recorder. 2. SEARCHES: Searches have been made against the titleholders and the abstracter reports nothing which would be a lien against the property, except as may be noted in this opinion. In addition, a search of the Iowa Secretary of State Mechanic's Notice and Lien Registry reveals no liens listed against the property or the current title holder. 3. TAXES: Story County Treasurer's Parcel No. 09-07-300-120 Real Estate, for the fiscal year beginning 7/1/20104 and ending 6/30/2015: First half, delinquent after 9/30/2015, paid in the amount of$379.00. Second half, delinquent after 3/31/2016,paid in the amount of$379.00. 4. EASEMENTS: At entries 13, 15 and 16,there appear easements granted to the City of Ames, Iowa over, under and across a portion of the subject real estate for water main purposes, together with rights of ingress and egress. the easements were filed April 23, 2001 as Inst.No. 01-04680, April 23, 2001 as Inst.No. 01-04682, and April 23, 2001 as Inst. No. 01-04683, records of the Story County Recorder. 5. ZONING: The property is subject to the zoning ordinances of the City of Ames, Iowa. 6. GENERAL EXCEPTIONS: There are certain matters which cannot be ascertained from an examination of the abstract and which may affect your use of, enjoyment of and rights in and to the real estate under examination. Accordingly, this title opinion is subject to and you must take notice of the following: Matters which would be revealed by an accurate survey and inspection of the premises such as encroachments, overlaps, and boundary line disputes. Further, access to public streets and the correctness of lot area and boundary lines cannot be assured by this opinion. You are charged with notice of the rights of persons in possession of the real estate or any portion thereof. The real estate under examination is subject to the zoning ordinances of the city or county stated above. You should determine whether the real estate complies with the applicable zoning ordinances. Persons furnishing labor or materials for improvement of the real estate within the last 90 days may be entitled to file a mechanic's lien if not paid. In such event, your lien or title may be subject to such mechanic's lien. p . -7 Special assessments, preliminary assessments, and deficiency assessments are a lien from certification by the city or the county or other taxing jurisdiction to the County Treasurer. The lien for such assessments has priority equivalent to real estate taxes. Such a lien may not be shown in the abstract but may attach against the real estate for work preliminarily approved by the City Council. Charges for certain municipal services provided by a city prior to your ownership, such as solid waste and sewage disposal, may be a lien against the real estate when certified to the County Treasurer's Office. Such a lien has priority equivalent to real estate taxes. The abstract does not disclose the existence of hazardous substances, hazardous waste, hazardous materials,pollutants, contaminants, underground storage tanks, drainage wells, active or abandoned water wells and other environmentally-regulated activities. You are cautioned that federal, state and local legislation may permit injunctive relief, and require removal and remedial actions, or other clean up, and may create a lien for the same. Searches for judgments by the abstracter are limited to a ten-year period, however, certain installment judgments such as child support and alimony rendered in a decree of dissolution more than ten years ago are a lien on the real estate of the obligor for ten years after the installment becomes due. This is a preliminary title opinion based on the abstract continued to the date shown above,between that date and the date of your transaction for which this opinion is being prepared, matters may appear of record which may adversely affect the title to real estate. Before closing,you must verify through the abstractor, the current status of the title. I request that any objection and requirements in this title opinion be corrected and furnished to this examiner with the abstract for further examination before you close your transaction. Very truly yours, GALYON LAW OFFICE ( - 4L /-- I I P Alex P. Galyon Attorney at Law 1P,