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Home My WebLink AboutA010 - Attorney's Title Opinion dated July 3, 2018 LAW OFFICES Belin McCormick,P.C. 666 WALNUT STREET SUITE 2000 DES MOINES,IA 50309-3989 Telephone: (515)243-7100 Telecopier(515)283-4678 Plat Opinion July 3,2018 City of Ames,Iowa 515 Clark Avenue Ames,IA 50010 RE: Iowa State University Research Park Phase III Third Addition to Ames This is to certify that I have examined abstract of title last continued by Abstract&Title Services of Story County, Abstract No. 1085231098 continued to July 3, 2018 at 8:00 a.m. covering the following- described real estate: Outlots Y and Z in Iowa State University Research Park Phase III First Addition to the City of Ames, Story County, Iowa to be re-platted as Iowa State University Research Park Phase III Third Addition in Ames, Story County, Iowa,and based upon the abstracts I report marketable fee title in the name of IOWA STATE UNIVERSITY RESEARCH PARK("ISURP") Subject to the following matters: 1. REPLAT. This plat shall be a replat of Outlots Y and Z in Iowa State University Research Park Phase III First Addition to the City of Ames, Iowa. A copy that plat as it appears in the abstract is attached hereto for your information and should be reviewed for setback requirements, easements, location,area,access to public streets and other matters affecting the portion thereof being replatted. Please note that the plat indicates that along the western boundary of Outlot Z there is a 33 foot wide right-of-way which appears to be related to South 530" Avenue/University Boulevard right-of-way,and on the eastern boundary of Outlot Z the plat shows a notation that the east 40 feet of Outlot Z is to be reserved for future dedicated right-of-way which would appear to be related to South Riverside Drive. 2. ANNEXATION AND REZONING. The abstract indicates that all of the property within the proposed plat has been annexed to the City of Ames and has been rezoned to the designation of Research Park Innovation District (RI) by Ames City Ordinance No. 4229 recorded November 2, 2015 as Instrument No. 15-10654 in the Story County, Iowa records. 3. AGREEMENTS AS TO WATER SERVICE: An Agreement between the City of Ames and Xenia Rural Water District for Continued Water Service to Parcels Adjacent to ISURP Phase III (the "Continued Service Agreement") recorded as Instrument No. 15-07889 of the Story County, Iowa �' T f records, which references a Release of Service Territory Rights Agreement ("Release of Service Rights Agreement")by which Xenia will relinquish its water service rights as to the property to be included in Iowa State University Research Park Phase III to allow City water service to be provided to such area. Such Continued Service Agreement making such reference to the Release of Service Rights Agreement is made to assure continued water service to certain areas adjacent to the Phase III property currently receiving such Xenia water service, although such adjacent areas will also be covered by the referenced Release of Service Territory Rights Agreement, until the City is able to extend its water service to such adjacent areas. The Release of Service Territory Rights Agreement is evidenced of record by a Memorandum recorded as Instrument No. 15-10835 of the Story County,Iowa records. 4. WATER MAIN EASEMENT: Water Main Easement granted to the City of Ames, Iowa recorded as Instrument No. 201 5-000 1 1 637 of the Story County, Iowa records, which affects a 20 foot wide strip across Outlot Y as described therein and as shown on the plat drawing of Iowa State University Research Park Phase III First Addition. 5. STORM WATER EASEMENT AND STORM WATER FLOWAGE EASEMENT: Storm water easement and storm water flowage easement recorded as Instrument No. 16-03304 of the Story Count, Iowa records,which affects portions of Outlot Z as described therein for the benefit of the owners of real estate in Iowa State University Research Park Phase II1,First Addition. 6. AGREEMENT FOR SIDEWALKS: Agreement for Sidewalks between the titleholder and the City of Ames relating to the sidewalks to be constructed by the owners of property in the Phase III First Addition within the right of way of all streets in the subdivision, recorded as Instrument No. 2015- 00011638 of the Story County,Iowa records. 7. BENEFICIAL STORM WATER EASEMENT. Storm water flowage easement across a portion of Lot 6 of Iowa State University Research Park Phase III, First Addition as described therein for the benefit of the owners of real estate in Iowa State University Research Park Phase III, First Addition, recorded as Instrument No. 16-03260 of the Story County, Iowa records. 8. ROADWAY EASEMENT: Roadway easement granted by the Board of Regents on behalf of Iowa State University as the owner of Outlot Z to the City of Ames, as grantee, recorded as Instrument No. 17-12757 of the Story County, Iowa records to allow for the widening of the existing 33 foot right of way to 50 feet to accommodate the widening of University Boulevard 1530th Avenue as part of a paving project by the City and Story County. , 9. RESTRICTIVE COVENANTS: Amended and Restated Declaration of Covenants, Conditions and Restrictions of Iowa State University Research Park recorded July 29, 2016 as Instrument No. 2016- 00007216 of the Story County, Iowa records which currently affects Outlot Y of the property under examination. Please note that such Declaration in Section 6.3 provides for exclusive commercial uses for the owners of Parcel F of Lot 2 of Iowa State University Research Park First Addition and Lots 2 and 5 of Iowa State University Research Park Phase III, First Addition for periods of time as provided therein which bind the owners of other lots in the Research Park. 10. SEARCHES: Searches have been made against the titleholder and no judgments appear against the titleholder as a result of such searches. 3 11. REAL ESTATE TAXES: All real estate taxes for fiscal years through fiscal year 2016-17 have been paid in full: Parcel Nos. 09-22-100-002: First half$483.00 paid; Second half$483.00 paid. -2- Parcel No. 09-22-150-001: First half$846.00 paid; Second half$846.00 paid. 12. ZONING: The property under examination is subject to the zoning ordinances of the City of Ames,Iowa. 13. PLAT OPINION. This title opinion is rendered for platting purposes in accordance with the laws of the State of Iowa and for no other purpose. 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: . a. 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. b. You are charged with notice of the rights of persons in possession of the real estate or any portion thereof. C. 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. d. 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. e. 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. f. 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. g. 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. h. 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. i. You are advised that if the real estate uses a sewage disposal system or a well system,or both,you may be subject to State Department of Natural Resources and County Board of Health rules. The state law, section 455b.172 of the Iowa Code requires all such systems be inspected for compliance upon a transfer of ownership by a DNR certified inspector, and that a copy of the certified inspector's report be presented to the county recorder with any conveyance document. State law and DNR rules do not specifically place this burden on either seller or buyer. You should determine for yourself if the proposed real estate transfer is subject to these requirements. If so,you should be certain they are met, since failure to meet them may prevent the recording of the deed or contract. -3- P. � Very truly yours, e my C. ha a �ror the Fifm ib Belin\10269\1033\Plat of Phase 111-Third Add-Plat Op(2990656.2).doc r -239 ZQ ,�, a �� '>rr � f r✓� i iYbB" tfnrcrr 1 '�' I B � � � ?cars• �' /•' tfar C. i S tmurt P"°� ari tnu..trcl}Coll] r ht"N'allm"l11lr11A p. fx Fnr nco C•hf tar 1 tf.t0 Imf 1.0 .ht rlenu°il fed 1.90 Ital.I.Ir+rism mm1'6arta .we. Ma FINAL PLATr'-� 5TUh1B0 8 A55pGIATES IOWA STATE UNIVERSITY 7 :LAND 5URVVIIvG RESEARCH PARK PHASE'III. acseaeeafauw.a FIRST ADDITION' - i ,lip olnnrl' le/l9 .PfGE 1.1 $IIS4A ewle r 3• ;y H G l-" N CI R _ Abstract No. 1805231098 Root of Title to June 7,2018 at 8:60 A.M. Page 124