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HomeMy Public PortalAboutSMR Subdivison No. 1 - Section 10American Land Title Association Commitment - 1966 plc_ COMMITMENT FOR TITLE INSURANCE ISSUED BY Sanctity of Contract® STEWART TITLE® GUARANTY COMPANY STEWART TITLE GUARANTY COMPANY, A Texas Corporation, herein called the Company, for a valuable consideration, hereby commits to issue its policy or policies of title insurance, as identified in Schedule A, in favor of the proposed Insured named in Schedule A, as:owner or mortgagee of the estate or interest covered hereby in the land described or referred to in Schedule A; upon payment'. of the premiums and charges therefor; all subject to the provisions of Schedules A and Band to Slth a Conditions"andStipulations hereof This Commitment shall be effective only when the identity Ott -le -proposed Insured and the amount of the policy or policies committed for have been inserted in 1Schedule.A'hereof by=the-Company, either at the time of the issuance of this Commitment or by subsequent , uent,endorsement. - - This Commitment is preliminary to the issuance of such policy or policies of title insurance and all liability and obligations hereunder shall cease anCherniinate=six months after the`°ieffective date hereof or when the policy or policies committed for shall issue, whichever firsto`ccurs, provided that the failure to issue such policy or policies i_ is not the fault of the Company. Signed under seal for the Company, but this Commitment shall not be valid or binding until it bears an autho- rized Countersignature. IN WITNESS WHEREOF, Stewart Title Guaranty Company has caused its corporate name and seal to be hereunto affixed by its duly authorized officers on the date shown in Schedule A. STEWART TITLE® Chairman of ttl�e Board Countersigned by: Authorized Signatory AMERITITLE, INC Company Cascade, Idaho 83611 City, State GUARANTY COMPANY President CONDITIONS AND STIPULATIONS 1. The term mortgage, when used herein, shall include deed of trust, trust deed, or other security instrument. 2. If the proposed Insured has or acquires actual knowledge of any defect, lien, encumbrance, adverse claim or other matter affecting the estate or interest or mortgage thereon covered by this Commitment other than those shown in Schedule B hereof, and shall fail to disclose such knowledge to the Company in writing, the Company shall be relieved from liability for any loss or damage resulting from any act of reliance hereon to the extent the Company is prejudiced by failure to so disclose such knowledge. If the proposed Insured shall disclose such knowledge to the Company, or if the Company otherwise acquires actual knowledge of any such defect, lien, encumbrance, adverse claim or other matter, the Company at its option may amend Schedule B of this Commitment accordingly, but such amendment shall not relieve the Company from liability previously incurred pursuant to paragraph 3 of these Conditions and Stipulations. 3. Liability of the Company under this Commitment shall be only to the named proposed In- sured and such parties included under the definition of Insured in the form of policy or policies committed for and only for actual loss incurred in reliance hereon in undertaking in good faith (a) to comply with the requirements hereof, or (b) to eliminate exceptions shown in Schedule B, or (c) to acquire or create the estate or interest or mortgage thereon covered by this Commitment. In no event shall such liability exceed the amount stated in Schedule A for the policy or policies committed for and such liability is subject to the insuring provi- sions, the Conditions and Stipulations, and the Exclusions from Coverage of the form of policy or policies committed for in favor of the proposed Insured which are hereby incorpo- rated by reference and are made a part of this Commitment except as expressly modified herein. 4. Any action or actions or rights of action that the proposed Insured may have or may bring against the Company arising out of the status of the title to the estate or interest or the status of the mortgage thereon covered by this Commitment must be based on and are subject to the provisions of this Commitment. STEWART TITLE® GUARANTY C OMPANY All notices required to be given the Company and any statement in writing required to be fur- nished the Company shall be addressed to it at P.O. Box 2029, Houston, Texas 77252. SCHEDULE A Order Number: AMT1051-2000 1. Effective Date: October 9, 2000 at 9:00 a.m. 2. Policy or Policies to be issued: (a) A.L.T.A. Owner's Proposed Insured: (b) A.L.T.A. Mortgagee's Proposed Insured: To be determined * -Amount of Insurance $ TBD (c) Leasehold Proposed Insured: $ * 3. The estate or interest in the land described or referred to in this Commitment and covered herein is Fee Simple** 4. Title to the above estate or interest in said land is at the effective date hereof vested in: WNLW, Inc., an Idaho corporation 5. The land referred to in this Commitment is described as follows: See attached Exhibit A **FEE SIMPLE in and to the surface rights, excepting therefrom any and all interest in and to oil, gas, mineral like substances, together with all rights incidental thereto, that may have been heretofore conveyed or reserved for which there has been no search of the public records and for which no insurance is provided hereunder. AmeriTitle, Inc. Cascade, Idaho 83611 Page 2 STEWART TITLE 0052 GUARANTY COMPANY CONTINUATION EXHIBIT A Parcel K A parcel of land situated in the NE 'A NW and NW �'A NE '/ of Section 10. T18N, R3E, B.M.. City of McCall, Valley County. Idaho, more particularly described as follows: CO1'fMENCING at the northeast comer of said Section 10 as shown on SPRING MOUNTAIN RANCH SUBDIVISION No. 1.as recorded in Book 8 of Plats at Page 38, and as Inst. No. 199039, Valley County Records; ther}ce along said northerly line, N.89°56'39"W., 2631.45 feet to the norh 1/4 corner thereof; thence, 5.32'38'30"E.. 606.02 feet to the POINT OF BEG NNLNG; thence, S.12'27'10"W., 211.83 feet; thence, S.54°42'47"W., 257.29 feet; thence. S.72° 14'35"W., 370.35 feet: thence, N.8 4'05'38"W., 175.02 feet: thence, S.41'33'10"W_. 105.45 feet; thence, 5.09'58'42"W., 147.73 feet; thence, 5.04°23'42"W., 447.67 feet: thence, N.37°30'00"W., 65.42 feet: thence, N.66°30'00"W., 150.00 feet; thence, S.88°50'00'`W., 120.00 feet; thence, S.71'00'00"W., 90.00 feet: thence. N.63°35'08"W., 142.45 feet: thence. - continued - Commitment No: AMT1051-00 Schedule A Page 2 STEWART TITLE GUARANTY COMPANY CONTINUATION EXHIBIT A Parcel K - continued N.30° 13' 14"E., 573.93 feet; thence, N.39°39'48"E., 274.50 feet; thence, N.82°24'29"E.. 237.52 feet; thence, N.20°47'49"E., 226.81 feet; thence, S.75°54'53"E.. 161.53 feet; thence, N.83°56'04"E., 516.05 feet to the POINT OF BEGINNING. Parcel L A parcel of land situated in the NE 'A NW and NE 1/. NW '4 of Section 10, TlMN, R3E, City of McCall, Valley County, Idaho, more particularly described as follows: COMMENCING at the northeast corner of said Section 10 as shown on SPRING MOUNTAIN RANCH SUBDIVISION No. 1 as recorded in Book 8 of Plats at Page 38, and as Inst. No. .199039, Valley County Records; thence, N.89°56'39"W., 1544.40 feet along the northerly line of said Section 10 to a point in the centerline of the future Spring Mountain Boulevard; thence, continuing along said northerly line through the following courses, N.89°56'39"W., 31.37 feet to the POINT OF BEGINNING; thence, N.89°56'39"W., 1055.68 feet to the north 'A corner thereof; thence, N.89°44'33"W., 749.93 feet; thence, leaving said northerly line, S.41'01'44"E., 424.02 feet; thence, N.73°48'52"E., 378.92 feet; thence, S.84°56'49"E., 1280.37 feet to point on a non -tangent curve in the westerly right-of-way line of said future Spring Mountain Boulevard; thence along said right-of-way line through the following courses, - continued - Commitment No: AMT1051-00 Schedule A Page 3 STEWART TITLE GUARANTY COMPANY 1: CONTINUATION EXHIBIT A Parcel L - continued along said curve to the left having a radius of 670.00 feet, and arc length of 47.60 feet, a central angle of 04'04'13", a chord bearing and distance of N.25'57`08"W., 47.59 feet to a point of reverse curvature: thence. along a curve to the right having a radius of 780.00 feet, and arc length of 242.41 feet, a central angle of 17'48'23", a chord bearing and distance of N.19°05'04"W., 241.43 feet to a point of reverse curvature; thence, along a curve to the left having a radius of 770.00 feet, and arc length of 77.55 feet, a central angle of 05°46' 13", a chord bearing and distance of N.13°03'58"W., 77.51 feet to a point of compound curvature; thence, along a curve to the left having a radius of 250.00 feet, and arc length of 8.65 feet, a central angle of 01'58'57", a chord bearing and distance of N.16°56'34"W., 8.65 feet to the POINT OF BEGINNING. Parcel M A parcel of land siniatcd in the NE !. NW ''A of Section 10, T18N, R3E, 13.M., City of McCall, Valley County. Idaho, more particularly described as follows: COMNIENCtNG at the north '4 corner of said Section 10 as shown on SPRING MOUNTAIN RANCH SUBDIVISION No. 1.as recorded in Book 8 of Plats at Page 38. and as Inst. Nn. 199039. Valley County Records; thence, along said northerly line. N.89°44'35"W., 749.96 feet to the POINT OF BEGUN —SING; thence, continuing along said line, N.89°44'35"W., 570.00 feet to the northwest corner of said NE1.4 NWV4; thence, along the westerly line of said NE14 NW ! of Section 10,. S.00°09'08"W., 36R.40 feet; thence, S.9f°00'00"E.. 335.00 feet; thence, S.36°18'00"L•., 223.93 feet; thence, S.24°36'32."W , 94.94 feet; thence, Commitment No: AMT1051-00 Schedule A Page 4 - continued - STEWART TITLE GUARANTY COMPANY Parcel M- continued CONTINUATION EXHIBIT A :'::• V.•E;i4' N.44°4001"E., 366 47 feet; thence, N.51 '0600 " E., 51.54 feet; thence, N.78°48'52"E., 122.87 feet; thence, N.41°01'44W., 424.02 feet to the POLNIT OF BEGEYNLNG. Commitment No: AMT1051-00 Schedule A Page 5 STEWART TITLE C.1 1A R ANTY COMPANY SCHEDULE B - Section 1 Commitment Number: AMT1051-00 Requirements The following are the requirements to be complied with: Item (a) Payment to or for the account of the grantors or mortgagors of the full consideration for the estate or interest to be insured. Item (b) Proper instrument(s) creating the estate or interest to be insured must be executed and duly filed for record, to wit: 1. The Company reserves the right to raise further requirements and/or exceptions when details of this transaction are known. NOTE: Copies of exceptions are available upon request. Page 5 1653 STEWART TITLE GUARANTY COMPANY Order Number: AMT1051-2000 SCHEDULE B PART I Showing matters which will be excepted in the Policy unless the same are disposed of to the satisfaction of the Company. 1. Defects, liens, encumbrances, adverse claims or other matters, if any, created first appearing in the public records or attaching subsequent to the effective date hereof but prior to the date the proposed insured acquires for value of record the estate or interest or mortgage thereon covered by this Commitment. 2. Taxes for the current year. 3. Any discrepancies, conflicts, or shortages in area or boundary lines, or any encroachments or any overlapping of improvements or other boundary or location disputes (can be eliminated or amended in mortgagee's policy upon proper evidence being furnished). 4. Restrictive covenants affecting the property described in Schedule A. 5. Rights or claims of parties in possession, and not of record in the public records; liens for labor, services or material or claims to same which are not of record in said records. 6. Any roadway or easement, similar or dissimilar, on, under, over or across said property, or any part thereof and not of record in said records. 7. Any titles or rights asserted by anyone, including but not limited to persons, corporations, governments, or other entities, to tidelands, or lands comprising the shores or bottoms of navigable rivers, lakes, bays, ocean or gulf, or lands beyond the line of the harbor or bulkhead lines as established or changed by the United States Government or riparian rights, if any. PART II The following matters will be excepted in Schedule B of the policy to be issued: 8. Taxes for 2000 and subsequent years are an accruing lien not yet due and payable. Taxes for 1999 are as follows: Parcel K Parcel L Parcel M MOO 000 100 865 MOO 000 100 610 MOO 000 102 555 $1,261.04 $1,180.90 $ 881.56 Paid in full Paid in full Paid in full NOTE: This is for information purposes only and the Company assumes no liability for amounts quoted. It has recently become the practice of the Valley County Assessor and Treasurer to issue subsequent tax statements, the amount shown thereon being unavailable or unknown at this time, and the Company assumes no liability thereof. 9. Assessments or liens by Valley County for garbage collection as provided for by law. 10. Unpatented mining claims; reservations or exceptions in patents or in Acts authorizing the issuance thereof; water rights, claims or title to water. - continued - Page 3 0053 STEWART TITLE GUARANTY COMPANY CONTINUATION SHEET SCHEDULE =B Commitment Number: AMT1051-2000 11. Memorandum of Agreements by Spring Mountain Ranch Partnership, WNLW, Inc:; and the_City of McCall, -as filed for record in the office of the Recorder of Valley County, Idaho on September 25, 1992 as Instrument No. 190920. MASTER DECLARATION OF COVENANTS, CONDITIONS AND RESTRICTIONS; Instrument No. 199041 ASSIGNMENT: Spring Mountain Ranch Partnership, as assignor, to Spring Mountain Ranch Limited Partnership, as assignee, recorded June 10, 1993 as Instrument NO. 196553. GOLF COURSE LONG TERM MAINTENANCE AGREEMENT; Instrument No. 215999, re -recorded as Instrument No. 217888. 12. LOCAL IMPROVEMENT DISTRICT as filed for record in the office of the Recorder of Valley County, Idaho on July 27, 1993 as Instrument No. 197688; AMENDED July 10, 1996 as Instrument No. 219376; FURTHER AMENDED December 22, 1997 as Instrument NO. 230081. 13. UTILITY EASEMENTS, WATER SYSTEM IMPROVEMENTS 1994-1996; Instrument No. 209334. 14. That certain ALTA/ACSM survey done byToothman-Orton Engineering Company dated June 9,1993 discloses irrigation ditches and canals crossing these properties which downstream water users may have rights and easements connected therewith; and further discloses roadways transgressing these properties, and boundary fences that may not coincide with actual property boundaries. 15. There is no recorded means of ingress and egress to a public road for said property, and it is assumed that there exists a valid and subsisting easement for that purpose over adjoining properties, but the Company does not insure against any rights based on a contrary state of facts. 16. GRANT OF RIGHT OF FIRST REFUSAL FOR PURCHASE OF REAL PROPERTY as filed for record in the office of the Recorder of Valley County, Idaho on August 14, 1997 as Instrument No. 227445; AMENDED October 23, 1997 as Instrument No. 229033. 17. MEMORANDUM OF RIGHT OF FIRST OPPORTUNITY TO PURCHASE as filed for record in the office of the Recorder of Valley County, Idaho on August 14, 1997 as Instrument No. 227448. END Page 4 0055 STEWART TITLE GUARANTY COMPANY (pt) M 3610 39.270 AC sssys'10 s 1 TAX MO. -A� 1.tl7 AC 1117, NOMlettirlr WW1 s, f?-A .eos TIMBERLOST This document copy is furnished as an accommoda= tion. The Company makes no rep'esentlitions as to its (3ff©ct, sufficiency, completeness cr any other matters that might be referred to or implied therein. N4 sarosnr wnso srsra ire 8.938 AC M 2625 6.841 AC TAX NO. 18 1n.Is f TAX NO. 22 M 25 TAX NO. 35 1st TAX NO. 22 nu, 11101092 12.846 AC a TAX NO. 93 (�1 mono COTTAGES AT SPRIN MOUNTAIN RANCH WNHOUSE t • TAX NO. 34 c L.) .rsrati wase M 0885 0 .10400. 1#41.111.1$ mole scam 11.697 AC LOsss 35.667 AC TAX NO. 22 400 1/46PR104 MIN RANCH L6v, alrarara • • M 0685 +sue $3 SPRING MTN. RANCH 41.4 ' roe 11.469 AC AMENDED SUED. LOTS 1-14 BLS. 4 SPRING MTN. RANCH SUED. N S 1 M 1315 (�1 woe M 1675 SUBD. t%y �f NO. 3 23.149 AC TAX NO. 32 x) .1- for Ikb M 0285 18.181 AC TAX N0. 30 (6) 1*.M 1t 9.382 AC TAX NO. 21 ovetIrs rso M 000 M 1875 11.273 AC TAX NO. 29 u) M 2335 14.1 TAX