HomeMy WebLinkAboutA009 - Attorney's Title Opinion dated March 9, 2017 G '
Galyon Law Office
P.O.Box 1723
Ames,Iowa 50010
E-Mail: agalyon@gmail.com
My Direct Dial: (515)708-1375
March 9, 2017
City of Ames
City Hall
515 Clark Avenue
Ames,Iowa 50010
Re: Preliminary Title Opinion
Crane Farm Subdivision, Third Addition, Ames, Story County, Iowa
To Whom it May Concern:
I have examined the Abstract of Title to the property legally described as:
Outlot "X", Crane Farm Subdivision, Second Addition,Ames, Story
County, Iowa.
The abstract consists of 74 entries beginning with the Root of Title, and is last certified by
Abstract and Title Services of Story County,#1703030482 to February 28, 2017 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 Pinnacle Properties Ames,LLC,by virtue of a Warranty Deed dated July 18,
2016 and filed for record on July 18, 2016 as Inst.No. 16-06705,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#57,there appears a Mortgage executed by Pinnacle Properties
Ames,L.L.C., an Iowa Limited Liability Company to First National Bank,Ames, Iowa, dated
July 15 & 18, 2016, filed July 18, 2016 as Inst.No. 16-06706,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.
3. TAXES: SECTION:07 TOWNSHIP:83 RANGE:24 N OF HWY SWIA EX PARCEL"A"
SLIDE 98 PAGE 4
Story County Treasurer's Parcel No. 09-07-300-120
Real Estate, for the fiscal year beginning 7/1/2015 and ending 6/30/2016:
First half, delinquent after 9/30/2016,paid in the amount of$344.00.
Second half, delinquent after 3/31/2017,paid in the amount of$344.00.
'4. EASEMENTS AND RESTRICTIONS: The property is subject to easements and restrictions
of record.
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.
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
Alex P. Galyon
Attorney at Law