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HomeMy WebLinkAboutApplication Applicant 9/6/2024 First American Title Insurance Company 3500 Chad Drive, Ste 350 Eugene, OR 97408 Phn - (541)484-2900 Fax - (877)783-9167 Order No.: 7000-4155871 August 20, 2024 FOR QUESTIONS REGARDING YOUR CLOSING, PLEASE CONTACT: JOYCE JAMESON, Escrow Officer/Closer Phone: (503)350-5005 - Fax: (866)656-1602- Email:jjameson@firstam.com First American Title Insurance Company 4350 Galewood St., Ste. 125, Lake Oswego, OR 97035 FOR ALL QUESTIONS REGARDING THIS PRELIMINARY REPORT, PLEASE CONTACT: Alex Manwill, Title Officer Phone: (541)484-2900 - Fax: (877)783-9167 - Email: amanwill@firstam.com Amended Preliminary Title Report This report is for the exclusive use of the parties herein shown and is preliminary to the issuance of a title insurance policy and shall become void unless a policy is issued, and the full premium paid. Please be advised that any provision contained in this document, or in a document that is attached, linked or referenced in this document, that under applicable law illegally discriminates against a class of individuals based upon personal characteristics such as race, color, religion, sex, sexual orientation, gender identity, familial status, disability, national origin, or any other legally protected class, is illegal and unenforceable by law. Situs Address as disclosed on Lane County Tax Roll: Limerick, Springfield, OR 97478 2021 ALTA Owners Standard Coverage Liability $ 1,190,000.00 Premium $ 1,789.00 STR 2021 ALTA Owners Extended Coverage Liability $ Premium $ 2021 ALTA Lenders Standard Coverage Liability $ Premium $ 2021 ALTA Lenders Extended Coverage Liability $ Premium $ Endorsement 9.10, 22 & 8.1 Premium $ Govt Service Charge Cost $ 10.00 Other Cost $ We are prepared to issue Title Insurance Policy or Policies of First American Title Insurance Company, a Nebraska Corporation in the form and amount shown above, insuring title to the following described land: The land referred to in this report is described in Exhibit A attached hereto. and as of August 14, 2024 at 8:00 a.m., title to the fee simple estate is vested in: Wizard Rock, LLC, an Oregon limited liability company Subject to the exceptions, exclusions, and stipulations which are ordinarily part of such Policy form and the following: Preliminary Report Order No.: 7000-4155871 Page 2 of 10 First American Title 1. Taxes or assessments which are not shown as existing liens by the records of any taxing authority that levies taxes or assessments on real property or by the public records; proceedings by a public agency which may result in taxes or assessments, or notices of such proceedings, whether or not shown by the records of such agency or by the public records. 2. Facts, rights, interests or claims which are not shown by the public records but which could be ascertained by an inspection of the land or by making inquiry of persons in possession thereof. 3. Easements, or claims of easement, not shown by the public records; reservations or exceptions in patents or in Acts authorizing the issuance thereof; water rights, claims or title to water. 4. Any encroachment (of existing improvements located on the subject land onto adjoining land or of existing improvements located on adjoining land onto the subject land), encumbrance, violation, variation, or adverse circumstance affecting the title that would be disclosed by an accurate and complete land survey of the subject land. 5. Any lien, or right to a lien, for services, labor, material, equipment rental or workers compensation heretofore or hereafter furnished, imposed by law and not shown by the public records. The exceptions to coverage 1-5 inclusive as set forth above will remain on any subsequently issued Standard Coverage Title Insurance Policy. In order to remove these exceptions to coverage in the issuance of an Extended Coverage Policy the following items are required to be furnished to the Company; additional exceptions to coverage may be added upon review of such information: A. Survey or alternative acceptable to the company B. Affidavit regarding possession C. Proof that there is no new construction or remodeling of any improvement located on the premises. In the event of new construction or remodeling the following is required: i. Satisfactory evidence that no construction liens will be filed; or ii. Adequate security to protect against actual or potential construction liens; iii. Payment of additional premiums as required by the Industry Rate Filing approved by the Insurance Division of the State of Oregon 6. Water rights, claims or title to water, whether or not shown by the public record. 7. Any claim to (a) ownership of or rights to minerals and similar substances, including but not limited to ores, metals, coal, lignite, oil, gas, uranium, clay, rock, sand, and gravel l ocated in, on, or under the Land or produced from the Land, whether such ownership or rights arise by lease, grant, exception, conveyance, reservation, or otherwise; and (b) any rights, privileges, immunities, rights of way, and easements associated therewith or appurtenant thereto, whether or not the interests or rights excepted in (a) or (b) appear in the Public Records. 8. Taxes for the year 2023-2024 Tax Amount $ 6,372.57 Unpaid Balance: $ 201.38 , plus interest and penalties, if any Code No.: 01936 Map & Tax Lot No.: 18-02-03-33-00100 Property ID No.: 1671104 9. City liens, if any, of the City of Springfield. Note: NO SEARCH HAS BEEN MADE. If inquiry is desired, please contact your Title Officer for a lien search. Preliminary Report Order No.: 7000-4155871 Page 3 of 10 First American Title 10. The rights of the public, governmental bodies, and public utilities, in and to that portion of the herein described property lying within the limits of public roads and highways. 11. Intentionally deleted. 12. Public Utility Easement and Agreement to Dedicate Public Right of Way, including terms and provisions thereof. Recorded: January 07, 2020 as Instrument No. 2020-000642 13. Covenants, conditions, restrictions and/or easements; but deleting any covenant, condition or restriction indicating a preference, limitation or discrimination based on race, color, religion, sex, handicap, family status, or national origin to the extent such covenan ts, conditions or restrictions violate Title 42, Section 3604(c), of the United States Codes: Recording Information: November 24, 2021 as Instrument No. 2021-073440 14. Any conveyance or encumbrance by Wizard Rock, LLC should be executed pursuant to their Operating Agreement , a copy of which should be submitted to this office for inspection. 15. Due to the high liability requested, this Commitment is subject to review and approval from an Underwriter with First American Title Insurance Company. The Company reserves the right to add additional items or make further requirements after such review. Please contact your Title Officer prior to closing. PLEASE PROVIDE 3 DAYS NOTICE PRIOR TO CLOSING TO OBTAIN FINAL UNDERWRITING APPROVAL FOR HIGH LIABILITY TRANSACTIONS. 16. Taxes for the fiscal year 2024-2025 a lien due, but not yet payable. 17. Deed of Trust and terms and conditions thereof. Grantor/Trustor: Wizard Rock, LLC, an Oregon limited liability company Grantee/Beneficiary: Lennar Northwest, LLC, a Delaware limited liability company Trustee: First American Title Amount: $70,000.00 Recorded: July 10, 2024 Recording Information: Instrument No. 2024-019682 18. Memorandum of Agreement and the terms and conditions thereof: Between: Lennar Northwest, LLC, a Delaware limited liability company And: Wizard Rock, LLC, an Oregon limited liability company Recording Information: July 10, 2024 as Instrument No. 2024-019683 - END OF EXCEPTIONS - NOTE: We find no matters of public record against Lennar Northwest, LLC that will take priority over any trust deed, mortgage or other security instrument given to purchase the subject real property as established by ORS 18.165. NOTE: According to the public record, the following deed(s) affecting the property herein described have been recorded within 24 months of the effective date of this report: NONE THANK YOU FOR CHOOSING FIRST AMERICAN TITLE! WE KNOW YOU HAVE A CHOICE! Preliminary Report Order No.: 7000-4155871 Page 4 of 10 First American Title RECORDING INFORMATION Filing Address: First American Title Insurance Company of Oregon Attn: Recorder 3500 Chad Drive, Suite 350 Eugene, OR 97408 Typical Recording Fees: $ 87.00 per first page (most documents) $ 5.00 per additional page $ 5.00 per document e-recording fee NOTE: An Additional fee of $20 may be imposed by the County Clerk if a document presented for recording fails to meet the requirements established by ORS Chapter 205. cc: Lennar Northwest, LLC cc: Wizard Rock, LLC Preliminary Report Order No.: 7000-4155871 Page 5 of 10 First American Title Exhibit "A" Real property in the County of Lane, State of Oregon, described as follows: Parcel 1, LAND PARTITION PLAT NO. 99-P1279, as platted and recorded August 17, 1999, Lane County Oregon Plat Records, in Lane County, Oregon. Except therefrom: All the lands contained within the boundary of JASPER MEADOWS, as platted and recorded February 15, 2002, Reception No. 2002-012568, Lane County Deeds and Records, in Lane County, Oregon. Also except therefrom: All the lands contained within the boundary of JASPER MEADOWS FIRST ADDITION, as platted and recorded November 22, 2002, Reception No. 2002-091218, Lane County Deeds and Records, in Lane County, Oregon. Also except therefrom: All the lands contained within the boundary of JASPER MEADOWS SECOND ADDITION, as platted and recorded December 13, 2004, Reception No. 2004-094865, Lane County Deeds and Records, in Lane County, Oregon. Also except therefrom: All the lands contained within the boundary of JASPER MEADOWS THIRD ADDITION AND JASPER MEADOWS FOURTH ADDITION, as platted and recorded May 22, 2006, Reception No. 2006-035144, Lane County Deeds and Records, in Lane County, Oregon. Also except therefrom: All the lands contained within the boundary of JASPER MEADOWS FIF TH ADDITION AND JASPER MEADOWS SIXTH ADDITION, as platted and recorded October 4, 2007, Reception No. 2007-068791, Lane County Deeds and Records, in Lane County, Oregon. Also except therefrom: All the lands contained within the boundary of JASPER MEADOWS SEVENTH ADDITION, as platted and recorded April 1, 2009, Reception No. 2009-016601, Lane County Deeds and Records, in Lane County, Oregon. Also except therefrom: that portion described in Dedication to Lane County recorded July 18, 2007, Reception No. 2007-048812, Lane County Deeds and Records, in Lane County, Oregon. Also except therefrom: that portion conveyed by deed recorded on November 4, 2013 as Reception No. 2013-057786, Lane County Deeds and Records, being more particularly described as follows: All that portion of Parcel 1 of LAND PARTITION PLAT NO. 99-P1279, as platted and recorded in Lane County Oregon Plat Records lying Easterly of the Eastern Bob Straub Parkway right of way margin, Southerly and Westerly of JASPER MEADOWS FIRST ADDITION, as platted and recorded in the Lane County Oregon Plat Records, and Westerly JASPER MEADOWS SECOND ADDITION, as platted and recorded in Lane County Oregon Plat Records, in Lane County, Oregon. NOTE: This legal description was created prior to January 1, 2008. Preliminary Report Order No.: 7000-4155871 Page 6 of 10 First American Title First American Title Insurance Company SCHEDULE OF EXCLUSIONS FROM COVERAGE ALTA LOAN POLICY (07/01/21) The following matters are excluded from the coverage of this policy, and the Company will not pay loss or damage, costs, atto rneys’ fees, or expenses that arise by reason of: 1. a. any law, ordinance, permit, or governmental regulation (including those relating to building and zoning) that restricts, regulates, prohibits, or relates to: i. the occupancy, use, or enjoyment of the Land; ii. the character, dimensions, or location of any improvement erected on the Land; iii. the subdivision of land; or iv. environmental remediation or protection. b. any governmental forfeiture, police, regulatory, or national security power. c. the effect of a violation or enforcement of any matter excluded under Exclusion 1.a. or 1.b. Exclusion 1 does not modify or limit the coverage provided under Covered Risk 5 or 6. 2. Any power of eminent domain. Exclusion 2 does not modify or limit the coverage provided under Covered Risk 7. 3. Any defect, lien, encumbrance, adverse claim, or other matter: a. created, suffered, assumed, or agreed to by the Insured Claimant; b. not Known to the Company, not recorded in the Public Records at the Date of Policy, but Known to the Insured Claimant and not disclosed in writing to the Company by the Insured Claimant prior to the date the Insured Claimant became an Insured under this policy; c. resulting in no loss or damage to the Insured Claimant; d. attaching or created subsequent to the Date of Policy (Exclusion 3.d. does not modify or limit the coverage p rovided under Covered Risk 11, 13, or 14); or e. resulting in loss or damage that would not have been sustained if consideration sufficient to qualify the Insured named in Sc hedule A as a bona fide purchaser or encumbrancer had been given for the Insured Mortgage at the Date of Policy. 4. Unenforceability of the lien of the Insured Mortgage because of the inability or failure of an Insured to comply with applicable doing-business law. 5. Invalidity or unenforceability of the lien of the Insured Mortgage that arises out of the transaction evidenced by the Insured Mortgage and is based upon usury law or Consumer Protection Law. 6. Any claim, by reason of the operation of federal bankruptcy, state insolvency, or similar creditors’ rights law, that the tra nsaction creating the lien of the Insured Mortgage is a: a. fraudulent conveyance or fraudulent transfer; b. voidable transfer under the Uniform Voidable Transactions Act; or c. preferential transfer: i. to the extent the Insured Mortgage is not a transfer made as a contemporaneous exchange for new value; or ii. for any other reason not stated in Covered Risk 13.b. 7. Any claim of a PACA-PSA Trust. Exclusion 7 does not modify or limit the coverage provided under Covered Risk 8. 8. Any lien on the Title for real estate taxes or assessments imposed by a governmental authority and created or attaching between the Date of Policy an d the date of recording of the Insured Mortgage in the Public Records. Exclusion 8 does not modify or limit the coverage provid ed under Covered Risk 2.b. or 11.b. 9. Any discrepancy in the quantity of the area, square footage, or acreage of the Land or of any improvement to the Land. ALTA OWNER’S POLICY (07/01/21) The following matters are excluded from the coverage of this policy, and the Company will not pay loss or damage, costs, attorneys’ fees, or expenses that arise by reason of: 1. a. any law, ordinance, permit, or governmental regulation (including those relating to building and zoning) that restricts, regulates, prohibits, or relates to: i. the occupancy, use, or enjoyment of the Land; ii. the character, dimensions, or location of any improvement on the Land; iii. the subdivision of land; or iv. environmental remediation or protection. b. any governmental forfeiture, police, regulatory, or national security power. c. the effect of a violation or enforcement of any matter excluded under Exclusion 1.a. or 1.b. Exclusion 1 does not modify or limit the coverage provided under Covered Risk 5 or 6. 2. Any power of eminent domain. Exclusion 2 does not modify or limit the coverage provided under Covered Risk 7. 3. Any defect, lien, encumbrance, adverse claim, or other matter: a. created, suffered, assumed, or agreed to by the Insured Claimant; b. not Known to the Company, not recorded in the Public Records at the Date of Policy, but Known to the Insured Claimant and not disclosed in writing to the Company by the Insured Claimant prior to the date the Insured Claimant became an Insured under this policy; c. resulting in no loss or damage to the Insured Claimant; d. attaching or created subsequent to the Date of Policy (Exclusion 3.d. does not modify or limit the coverage provided under Covered Risk 9 or 10); or e. resulting in loss or damage that would not have been sustained if consideration sufficient to qualify the Insured named in Schedule A as a bona fide purchaser had been given for the Title at the Date of Policy. 4. Any claim, by reason of the operation of federal bankruptcy, state insolvency, or sim ilar creditors’ rights law, that the transaction vesting the Title as shown in Schedule A is a: a. fraudulent conveyance or fraudulent transfer; b. voidable transfer under the Uniform Voidable Transactions Act; or c. preferential transfer: i. to the extent the instrument of transfer vesting the Title as shown in Schedule A is not a transfer made as a contemporaneous exchange for new value; or ii. for any other reason not stated in Covered Risk 9.b. 5. Any claim of a PACA-PSA Trust. Exclusion 5 does not modify or limit the coverage provided under Covered Risk 8. 6. Any lien on the Title for real estate taxes or assessments imposed or collected by a governmental authority that becomes due and payable after the Date of Policy. Exclusion 6 does not modify or limit the coverage provided under Covered Risk 2.b. 7. Any discrepancy in the quantity of the area, square footage, or acreage of the Land or of any improvement to the Land. Preliminary Report Order No.: 7000-4155871 Page 7 of 10 First American Title SCHEDULE OF STANDARD EXCEPTIONS 1. Taxes or assessments which are not shown as existing liens by the records of any taxing authority that levies taxes or assess ments on real property or by the public records; proceedings by a public agency which may result in taxes or assessments, or notices of such proceedings, whether or not shown by the records of such agency or by the public records. 2. Facts, rights, interests or claims which are not shown by the public records but which could be ascertained by an inspection of the land or by making inquiry of persons in possession thereof. 3. Easements, or claims of easement, not shown by the public records; reservations or exceptions in patents or in Acts authorizi ng the issuance thereof; water rights, claims or title to water. 4. Any encroachment (of existing improvements located on the subject land onto adjoining land or of existing improvements located on adjoining land onto the subject land), encumbrance, violation, variation, or adverse circumstance affecting the title that would be disclosed by an accurate and complete land survey of the subject land. 5. Any lien" or right to a lien, for services, labor, material, equipment rental or workers compensation heretofore or hereafter furnished, imposed by law and not shown by the public records. NOTE: A SPECIMEN COPY OF THE POLICY FORM (OR FORMS) WILL BE FURNISHED UPON REQUEST Rev. 07-01-21 Privacy Notice Effective: October 1, 2019 Notice Last Updated: January 1, 2022 This Privacy Notice describes how First American Financial Corporation and its subsidiaries and affiliates (together referred to as “First American,” “we,” “us,” or “our”) collect, use, store, and share your information with the exception that a subsidiary or affiliate has their own privacy policy, that policy governs. This Privacy Notice applies to information we receive from you offline only, as well as from third parties, when you interact with us and/or use and access our services and products (“Products”). For more information about our privacy practices, including our online practices, please visit https://www.firstam.com/privacy-policy/. The practices described in this Privacy Notice are subject to applicable laws in the places in which we operate. What Type Of Information Do We Collect About You? We collect a variety of categories of information about you. To learn more about the categories of information we collect, please visit https://www.firstam.com/privacy-policy/. How Do We Collect Your Information? We collect your information: (1) directly from you; (2) automatically when you interact with us; and (3) from third parties, including business parties and affiliates. How Do We Use Your Information? We may use your information in a variety of ways, including but not limited to providing the services you have requested, fulfilling your transactions, comply with relevant laws and our policies, and handling a claim. To learn more about how we may use your information, please visit https://www.firstam.com/privacy- policy/. How Do We Share Your Information? We do not sell your personal information. We only share your information, including to subsidiaries, affiliates, and to unaffiliated third parties: (1) with your consent; (2) in a business transfer; (3) to service providers; and (4) for legal process and protection. To learn more about how we share your information, please visit https://www.firstam.com/privacy-policy/. How Do We Store and Protect Your Information? The security of your information is important to us. That is why we take commercially reasonable steps to make sure your information is protected. We use our best efforts to maintain commercially reasonable technical, organizational, and physical safeguards, consistent with applicable law, to protect your information. How Long Do We Keep Your Information? We keep your information for as long as necessary in accordance with the purpose for which it was collected, our business needs, and our legal and regulatory obligations. Your Choices We provide you the ability to exercise certain controls and choices regarding our collection, use, storage, and sharing of your information. You can learn more about your choices by visiting https://www.firstam.com/privacy- policy/. International Jurisdictions: Our Products are offered in the United States of America (US), and are subject to US federal, state, and local law. If you are accessing the Products from another country, please be advised that you may be transferring your information to us in the US, and you consent to that transfer and use of your information in accordance with this Privacy Notice. You also agree to abide by the applicable laws of applicable US federal, state, and local laws concerning your use of the Products, and your agreements with us. We may change this Privacy Notice from time to time. Any and all changes to this Privacy Notice will be reflected on this page, and where appropriate provided in person or by another electronic method. YOUR CONTINUED USE, ACCESS, OR INTERACTION WITH OUR PRODUCTS OR YOUR CONTINUED COMMUNICATIONS WITH US AFTER THIS NOTICE HAS BEEN PROVIDED TO YOU WILL REPRESENT THAT YOU HAVE READ AND UNDERSTOOD THIS PRIVACY NOTICE. Contact Us dataprivacy@firstam.com or toll free at 1-866-718-0097. © 2022 First American Financial Corporation and/or its affiliates. All rights reserved. NYSE:FAF Form 10-PRIVACY22 (12-7-21) Page 1 of 2 Privacy Notice (2022 First American Financial Corporation) English For California Residents If you are a California resident, you may have certain rights under California law, including but not limited to the California Consumer Privacy Act of 2018 (“CCPA”). All phrases used in this section shall have the same meaning as those phrases are used under California law, including the CCPA. Right to Know. You have a right to request that we disclose the following information to you: (1) the categories of personal information we have collected about or from you; (2) the categories of sources from which the personal information was collected; (3) the business or commercial purpose for such collection and/or disclosure; (4) the categories of third parties with whom we have shared your personal information; and (5) the specific pieces of your personal information we have collected. To submit a verified request for this information, go to our online privacy policy at www.firstam.com/privacy-policy to submit your request or call toll-free at 1-866-718-0097. You may also designate an authorized agent to submit a request on your behalf by going to our online privacy policy at www.firstam.com/privacy- policy to submit your request or by calling toll-free at 1-866-718-0097 Right of Deletion. You also have a right to request that we delete the personal information we have collected from and about you. This right is subject to certain exceptions available under the CCPA and other applicable law. To submit a verified request for deletion, go to our online privacy policy at www.firstam.com/privacy-policy to submit your request or call toll-free at 1-866-718-0097. You may also designate an authorized agent to submit a request on your behalf by going to our online privacy policy at www.firstam.com/privacy-policy to submit your request or by calling toll-free at 1-866-718- 0097. Verification Process. For either a request to know or delete, we will verify your identity before responding to your request. To verify your identity, we will generally match the identifying information provided in your request with the information we have on file about you. Depending on the sensitivity of the information requested, we may also utilize more stringent verification methods to verify your identity, including but not limited to requesting additional information from you and/or requiring you to sign a declaration under penalty of perjury. Notice of Sale. We do not sell California resident information, nor have we sold California resident information in the past 12 months. To the extent any First American affiliated entity has a different practice, it will be stated in the applicable privacy policy. We have no actual knowledge of selling the information of minors under the age of 16. Right of Non-Discrimination. You have a right to exercise your rights under California law, including under the CCPA, without suffering discrimination. Accordingly, First American will not discriminate against you in any w ay if you choose to exercise your rights under the CCPA. Notice of Collection. To learn more about the categories of personal information we have collected about California residents over the last 12 months, please see “What Information Do We Collect About You” in https://www.firstam.com/privacy-policy. To learn about the sources from which we have collected that information, the business and commercial purpose for its collection, and the categories of third parties with whom we have shared that information, please see “How Do We Collect Your Information”, “How Do We Use Your Information”, and “How Do We Share Your Information” in https://www.firstam.com/privacy-policy. Notice of Sale. We have not sold the personal information of California residents in the past 12 months. Notice of Disclosure. To learn more about the categories of personal information we may have disclosed about California residents in the past 12 months, please see “How Do We Use Your Information” and “How Do We Share Your Information” in https://www.firstam.com/privacy-policy. © 2022 First American Financial Corporation and/or its affiliates. All rights reserved. NYSE:FAF Form 10-PRIVACY22 (12-7-21) Page 2 of 2 Privacy Notice (2022 First American Financial Corporation) English Produced using RLID (www.rlid.org) on 08/06/2024 at 1:46 PM Produced using RLID (www.rlid.org) on 08/06/2024 at 1:46 PM Produced using RLID (www.rlid.org) on 08/06/2024 at 1:46 PM