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HomeMy WebLinkAboutNotes Applicant 11/15/2024 (5) PRELIMINARY TITLE REPORT AMENDED CASCADE ESCROW October 30th, 2024 ATTN: NADJA JUDISH Report No: 0158158 675 OAK ST, SUITE 100 EUGENE, OR 97401 ( A T T A C H E D ) Vestee: CHERRY SPRINGS, LLC, an Oregon Limited Liability Company Estate: FEE SIMPLE DATED AS OF: October 24, 2024 at 8:00 A.M. Schedule B of the policy(ies) to be issued will contain the following general and special exceptions unless removed prior to issuance: GENERAL EXCEPTIONS (Standard Coverage Policy Exceptions): 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, encumbrance, violation, variation, or adverse circumstance affecting the Title that would be disclosed by an accurate and complete land survey of the 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. SPECIAL EXCEPTIONS: 6. Taxes, Account No. 0129161, Assessor's Map No. 17 02 32 4 1, #400, Code 19-00, 2023-24, in the amount of $12,296.13, NOW DUE AND PAYABLE. 7. Rights of the public in and to that portion lying within streets, roads and highways. 8. Slope and storm drain easement over the South 5.0 feet to the State of Oregon, State Highway Commission, as set forth by instrument recorded May 16, 1966, Reception No. 1966-047487, Lane County Oregon Deed Records. 9. Notice of Operations and Maintenance Agreement, including the terms and provisions thereof, recorded June 21, 2022, Reception No. 2022-027147, Lane County Deeds and Records. 10. Deed of Trust, including the terms and provisions thereof, executed by Cherry Springs, LLC, an Oregon Limited Liability Company, Grantor, to Cascade Title, Trustee, for the benefit of Summit Bank, Beneficiary, dated January 15, 2023, recorded January 19, 2023, Reception No. 2023- 001316, Lane County Deeds and Records, to secure payment of a note for $16,617,500.00. 11. Assignment of rents due or to become due and accruing from said property, including the terms and provisions thereof, between Cherry Springs, LLC, an Oregon Limited Liability Company, and Summit Bank, dated January 15, 2023, recorded January 19, 2023, Reception No. 2023-001317, Lane County Deeds and Records. NOTE: A judgment search has been made on the above named Vestee(s), and we find NONE except as set forth above. 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 Cascade Title Co. PROPERTY DESCRIPTION Beginning at a point on the North line of the A. W. Hammitt Donation Land Claim No. 38, Township 17 South, Range 2 West of the Willamette Meridian; 346.83 feet East from the Northwest corner of said Claim; from said beginning point run East along said North line 345.83 feet; thence leaving said North line and run South 1214.66 feet to the North line of the McKenzie Highway right of way; thence North 89° 44’ West along said right of way line 179.31 feet; thence leaving said right of way line and run North 300.9 feet; thence West 167.52 feet to the East right of way line of County Road No. 1238; thence North along the East line of said road 912.27 feet to the place of beginning, being part of the A. W. Hammitt Donation Land Claim, in Lane County, Oregon.