HomeMy WebLinkAboutComments APPLICANT 7/20/2007
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CASCADE
TITLE
CD
PRELIMINARY TITLE REPORT
AMENDED
CASCADE ESCROW
ATTN GAYLE BEARE
811 WILLAMETTE STREET
EUGENE. OR 97401
February 23, 2005
Report No 0244224
Your No EU05-0384
Seller PIERCE
Buyer JHB INC INTERNATIONAL
PRELIMINARY REPORT FOR
Owner's Standard Polley
$8,000,000 00
PREMIUMS
Owner's Standard Premlum
Government Servlce Fee
$12,600 00
$25 00
We are prepared to lssue 1992 ALTA tltle lnsurance POllcY(les) of CHICAGO TITLE
INSURANCE COMPANY of OREGON, In the usual form lnsurlng the tltle to the land
descrlbed as follows
( A T T A C H ED)
Vestee
ALLAN HILLAR PIERCE AND NORMAN J LECOMPTE, JR
as ,Co-Trustees pursuant to the Last Wl11 and Testament of
ELIZABETH C PIERCE,
a deceased person
ALLAN HILLAR PIERCE AND NORMAN J LECOMPTE, JR
as Co-Trustees pursuant to the Last Wl11 and Testament of
RALPH H PIERCE,
a deceased person
DATED AS OF JANUARY 26, 2005 AT 8 00 A M
Schedule B of the POllCy(les) to be lssued wll1 contaln the followlng general and
speclal exceptlons unless removed prlor to lssuance
GENERAL EXCEPTIONS
1 Taxes or assessments WhlCh are not shown as eXlstlng Ilens by the records of any
taxlng authorlty that levles taxes or assessments on real property or by the
publlC records Proceedlngs by a publlC agency WhlCh may result In taxes or
assessments, or notlces of such proceedlngs, whether or not shown by the records
of such agency or by the publlc records
2 Easements, llens, encumbrances, lnterests or clalms thereof WhlCh are not shown
by the publlC records Any facts, rlghts, lnterests or clalms WhlCh are not
shown by the publlc records but WhlCh could be ascertalned by an lnspectlon of
the land or by mak1ng lnqulry of persons In posseSSlon thereof
No hablhty IS assumed hereunder un/II pohcy has been Issued andfull pohcy premium has been pard
MAIN OFFICE . 811 WILLAMETTE 5T
FLORENCE . 1901 HWY 101 - 5 2
EUGENE FAX 485-0307' E-MAIL
. EUGENE, OREGON 97401' PH (541)
. FLORENCE, OREGON 97439 . PH (541)
1nfo@cascadet1tle com * FLORENCE FAX
687-2233
997-8417
997-8246
Order No
Page 2
0244224
3 D1screpanc1es, confllcts 1n boundary 11nes, shortage 1n area, encroachments, or
any other facts wh1ch a correct survey would d1sclose, and Wh1Ch are not shown by
the publ1c records
4 (a) Unpatented m1n1ng cla1ms, (b) Reservat10ns or except10ns 1n patents or 1n
Acts author1z1ng the lssuance thereof, (c) Water r1ghts, cla1ms or t1tle to
water whether or not the matters excepted under (a), (b), or (c) are shown by the
publ1C records
5 Any 11en or r1ght to a 11en, for serV1ces, labor or rnater1al heretofore or
hereafter furn1shed, 1mposed by law not shown by the publ1c records
SPECIAL EXCEPTIONS
6 AS d1sclosed by the tax rolls, the prem1ses here1n descr1bed have been zoned or
class1f1ed for farm use At any t1me that sa1d land 1S d1squallf1ed for such
use, the property w111 be subJect to add1t1onal taxes or penaltles and 1nterest
7 Easement, 1nclud1ng the terms and prov1s1ons thereof, granted Benham Irr1gat1on
Company, by lTIstrument recorded May I, 1919, 1n Book 119, Page 560, Lane County
Oregon Deed Records (Parcell)
8 Rlght of way, 1nclud1ng the terms and prOV1S10TIS thereof, granted the C1ty of
Eugene, Oregon, a Mun1c1pal corporat1on, by and through the Eugene Water Board,
recorded March 16, 1925, 1n Book 142, Page 450, Lane County Oregon Deed Records
(Parcell)
9 Easement, 1nclud1ng the terms and prov1S1ons thereof, granted the C1ty of
Spr1ngf1eld, by 1nstrument recorded November 17, 1961, Recept10n No 50778, Lane
County Off,c,al Records (Parcels 1 and 2)
10 Easement, 1ncluct1ng the terms and prov1s1ons thereof, granted Sprlngfleld School
D1str1ct No 19, by lnstrument recorded March 20, 1989, Reel No 1564, Recept10n
No 8911838, Lane County Off,c,al Records (Parcell)
11 Covenants, cond1t1ons, restrlctlons and easements, lncludlng the terms and
provlslons thereof, (bu~ omlttlng any covenant condlt1on or restrlct10n based on
race, color, rellglon, sex, hand1cap, famlllal status or natlonal orlgln) 10
Declaratlon of Restr1ctlons and Grant of Easements, recorded March 17, 1989, Reel
No 1563, 'Recept,on No 8911762, and amendment recorded October 31, 1989, Reel
No 1600, Recept'on No 8949055, and amendment recorded May 10, 1991, Reel No
1695, Receptlon No 9121698, Lane County Offlc1al Records, and as 1ncorporated by
lnstrument recorded May 10, 1991, Reel No 1695, Recept10n No 9121696, and as
amended by that lTIstrument recorded November 2, 1994, Reel No 2009, Receptlon
No 9477951, Lane County Off1clal Records (Part Parcel 1-approXlmately the
South 516 feet of the West 100 feet)
12 Easement, lnclud1ng the terms and prOV1S1ons thereof, granted Hayden Corporat1on,
dba H,llman Propert,es Northwest, by ,nstrument recorded May 10, 1991, Reel No
1695, Recept'an No 9121694, Lane County Off1c,al Records (Part Parcel 1-a part
of the South 516 feet of the West 100 feet)
13 Easement, lnclud1ng the terms and prov1s1ons thereof, as set forth 1n Opt1on and
Restrlct10ns Agreement, recorded May 10, 1991, Reel No 1695, Receptlon No
9121696, Lane County Off1c,al Records (Part Parcel 1-a part of the South 516
feet of the West 100 feet)
Order No
Page 3
0244224
14 Condltlons and Restrlct10ns 1n Opt1on and Restr1ct1ons Agreement, (but omltt1ng
any covenant condltlon or restrlctlon based on race, color, rellglon, sex,
handlcap, famlllal status or natlonal orlgln) recorded May 10, 1991, Reel No
1695, Receptlon No 9121696, and amendment recorded October 1, 1993, Reel No
1883, Receptlon No 9362649, and amendment recorded October 12, 1993, Reel No
1886, Receptlon No 9365168, Lane County Offlclal Records (Part Parcel l-a part
of the South 516 feet of the West 100 feet)
15 Easement, lncludlng the terms and provlslons thereof, granted the Clty of
Sprlngf1eld, by lnstrument recorded March 25, 1994, Reel No 1935, Receptlon No
9421981, Lane County Offlclal Records (Part Parcel 1-a part of the South 516
feet of the West 100 feet)
16 Reclprocal Easement Agreement, lncludlng the terms and provlslons thereof,
between Allan H Plerce and James L Hershner, Trustees under the Wllls of Ralph
H Plerce and Ellzabeth C Plerce, Deceased, and Slsters of St Joseph of Peace,
Health and Hospltal Servlces, a Wash1ngton Corporatlon, dba Sacred Heart General
Hospltal, recorded Aprl1 22, 1994, Receptlon No 9429763, Lane County Offlclal
Records (Part Parcel l-a part of the South 516 feet of the West 100 feet)
17 Unrecorded Lease, lncludlng the terms and provlslons thereof, from Blrtcher
Northwest, a Washlngton Llmlted partnershlP, Lessor, to Ernst Home Center, Inc
a Delaware corporatlon, Lessee, dated Aprll 25, 1995, as eVldenced by Memorandum
of Lease recorded May 17, 1995, Reel No 2064, Receptlon No 9527575, Lane County
Offlclal Records (Part Parcel 1-approxlmately South 516 feet by the West 425 5
feet)
18 The lnterest of Blrtcher Northwest, a Washlngton Llffilted partnershlP, as
dlsclosed by that lease recorded May 17, 1995, Receptlon No 9527575, Lane County
Offlclal Records (Part Parcel 1-approxlmately South 516 feet by the West 425 5
feet)
19 Easement to construct and malntaln a dltch granted Benham Irrlgatlon Company by
lnstrument recorded July 17, 1919, In Book 121, Page 66, Lane County Oregon Deed
Records (Parcel 2)
20 Easement for electrlc transmlSSlon Ilne granted The Clty of Eugene, a mUlllclpal
corporatlon, by and through the Eugene Water Board by lnstrument recorded July
12, 1937, ln Book 188, Page 452, Lane County Oregon Deed Records (Parcel 2)
21 Rlght of way easement, lncludlng the terms and provlslons thereof, granted Clty
of Eugene, recorded August 17, 1927, 1n Book 154, Page 414, Lane County Oregon
Deed Records (Parcel 2)
22 Declaratlon of Prlvate Easement, lncludlng the terms and provlslons thereof,
recorded February 02, 1996, Receptlon No 9607811, Lane County Offlclal Records
(Part Parcel 2)
23 Pendlng SUltS 1n State ClrCUlt Court, Lane County, flIed Aprll 04, 2002, Case
Nos 52-03-03395 and 52-03-03396, as Petltlons for Order Authorlzlng Sale of Real
Property Petltloners Allan H P1erce and Norman J LeCompte, Jr
NOTE Taxes, Account No
2004-2005, ln the amount
Taxes, Account No
2004-2005, ln the amount
1517653, Assessor1s Map No
of $723 88, PAID IN FULL
0113785, Assessor1s Map No
of $3,861 59, PAID IN FULL
17 03 25 1 1, #2300, Code 19-00,
17 02 30, #1800, Code 19-00,
NOTE As of the date hereof, there are no matters agalnst JHB INC
NEVADA CORPORATION, WhlCh would appear as exceptlons ln the POllCY
shown hereln
INTERNATIONAL, A
to lssue, except as
Order No
Page 4
0244224
Th1S report 1S prellm1nary to the 15suance of a po11cy of t1tle 1nsurance and shall
become null and v01d unless a POllCY 15 lssued and the full prem1um pa1d
Cascade T~tle Co
~2
By
ar
Tltle Offlcer JIM HIGGINS
cc PIRCHER, NICHOLS, AND MEEKS
ATTN ANGELA KOEBER
1925 CENTURY PARK EAST, SUITE 1700
LOS ANGELES, CA 90067
cc ALLAN PIERCE
2515 TERRACE VIEW
EUGENE, OR 97405
cc JHB INC INTERNATIONAL
ATTN JEFFREY H BELLE
5440 LOUIE LANE, SUITE 102
RENO, NY 89511
cc THE MARTIN COMPANY
ATTN ROBERT MARTIN
POBOX 1482
ALBANY, OR 97321
cc CB RICHARD ELLIS
ATTN TED NICHOLSON
1300 S W 5TH AVENUE, SUITE 200
PORTLAND, OR 97201
cc WESTERN PROPERTIES
ATTN DAN MONTGOMERY
66 CLUB ROAD, #160
EUGENE, OR 97401
cc WESTERN PROPERTIES
ATTN JACK WATSON
66 CLUB ROAD, #160
EUGENE, OR 97401
cc HERSHNER, HUNTER, MOULTON, ET AL
ATTN NORMAN LECOMPTE
180 EAST 11 TH AVENUE
EUGENE, OR 97401
Order No
Page 5
0244224
PROPERTY DESCRIPTION
PARCEL 1
Beglnnlng at a pOlnt aD the North marglD of Marcola Road, sald pOlDt belDg North 89
571 3011 East 2611 60 feet and North 00 021 00" West 45 00 feet from the Southwest
corner of the Fellx Scott Jr D L C No 51 ln Townshlp 17 South, Range 3 West of the
Wlllamette Merldlan, thence along the North margln of Marcola Road South 89 571 30"
West 1419 22 feet to the Southeast corner of Parcel 1 of Land Partltlon Plat No 94-
P0491, thence leavlng the North margln of Marcola Road and runnlng along the East
boundary of sald parcell and the Northerly extenslon thereof North 00 021 001! West
516 00 feet to a pOlnt on the South boundary of NICOLE PARK as platted and recorded ln
Flle 74, Slldes 30-33 of the Lane County Oregon Plat Records, thence along the South
boundary of sald NICOLE PARK North 89 57' 30" East 99 62 feet to the Southeast corner
of sald NICOLE PARK, thence along the East boundary of sald NICOLE PARK North 00 02'
0011 West 259 82 feet to the Northeast corner of sald NICOLE PARK, thence along the
North boundary of sald NICOLE PARK South 89 58' 00" West 6 20 feet to the southeast
corner of LOCH LOMOND TERRACE FIRST ADDITION, as platted and recorded ln Book 46, Page
20 of the Lane County Oregon Plat Records, thence along the East boundary of sald LOCH
LOMOND TERRACE FIRST ADDITION North 00 02' 00" West 112 88 feet to the Southwest
corner of AUSTIN PARK SOUTH as platted and recorded ln Flle 74, Slldes 132-134 of the
Lane County Plat Records, thence along the South boundary of sald AUSTIN PARK South
North 89 58' oon East 260 00 feet to the Southeast corner of sald AUSTIN PARK South
thence along the East boundary of sald AUSTIN PARK South North 00 02' 00" West 909 69
feet to the Northeast corner of sald Austln Park South, sald pOlnt belng on the South
boundary of that certaln tract of land descrlbed ln a deed recorded July 31, 1941, lD
Book 359, Page 285 of the Lane County Oregon Deed Records, thence along the South
boundary of sald last descrlbed tract North 79 411 54" East 1083 15 feet to the
lntersectlon of the South llne of the last descrlbed tract and the East llne of that
certalD tract of land conveyed to to R H Plerce and Ellzabeth C Plerce and recorded
lD Book 238, Page 464 of the Lane County Oregon Deed Records, thence along the East
llne of sald last descrlbed tract South 00 02' 00;' East 1991 28 feet to the pOlnt of
beglnnlng, all ln Lane County, Oregon
PARCEL 2
Beglnnlng at a p01Dt ln the center of County Road No 753, 3470 24 feet South and
1319 9 feet East of the Northwest corner of the Fellx Scott Donatlan land Clalffi No
82, ln Townshlp 17 South, Range 2 West of the Wlllamette Merldlan, and belng 866 feet
South of the Southeast corner of tract of land conveyed by The Travelers Insurance
Company to R D Kercher by deed recorded ln Book 189, Page 268, Lane County Oregon
Deed Records, thence West 1310 feet to a pOlnt 15 llnks East of the West llne of the
Fellx Scott Donatlon Land Clalm No 82, Notlflcatlon No 3255, ln Townshlp 17 South,
Range 2 West of the Wlllamette Merldlan, and runnlng thence South parallel wlth and 15
llnks dlstant from sald West llne of sald Donatlon Land Clalffi a dlstance of 2304 76
feet to a pOlnt 15 llnks East of the Southwest corner of sald Donatlon Land Clalm,
thence East followlng along the center llne of County Road No 278 a dlstance of 1310
feet to a pOlnt ln the center of sald County Road No 278 due South of the place of
beglnnlng, thence North followlng the center Ilne of sald County Road No 753 to the
pOlnt of beglnnlng, all ln Lane County, Oregon,
EXCEPT the rlght of way of the Eugene-Wendllng Branch of the Sauthern Paclflc
Rallroad,
ALSO EXCEPT that portlon
Book 359, Page 285, Lane
descrlbed In deed to The Clty
County Oregon Deed Records,
of Eugene, recorded In
contlnued-
Order No
Page 6
0244224
Property Descrlptlon contlTIued-
ALSO EXCEPT beglnnlng at a pOlnt Wh1ch 18 1589 47 feet South and 1327 33 feet
East of the Southwest corner of Sectlon 19, Townshlp 17 South, Range 2 West,
Wlllamette Mer1dlan, Lane County, Oregon, sald pOlnt also belng Opposlte and
20 feet Easterly from Statlon 39+59 43 P 0 S T , sald Statlon belng 1n the
center Ilne of the old route of County Road No 142-5 (formerly #753), thence
South 0 III West 183 75 feet to the 1TItersectlon wlth the Northerly Ra1lroad
Rlght of Way 11De, thence South 84 451 West 117 33 feet, thence South 79 3D'
West 48 37 feet to the lntersectlon of sald Rallroad Rlght of Way IlDe wlth
the Southerly Rlght of Way llne of the relocated sald County Road No 742-5,
thence along the arc of a 316 48 foot radlus curve left (the chord of WhlCh
bears North 39 03' 3511 East 261 83 feet) a dlstance of 269 94 feet to the
place of beglnnlng, 1n Lane County, Oregon,
ALSO EXCEPT that portlon descrlbed In deed to Lane County recorded October 19,
1955, Receptlon No 68852, Lane County Oregon Deed Records,
ALSO EXCEPT that portlon descrlbed lTI deed to Lane County recorded January 20,
1986, Receptlon No 8602217, Lane County Off1clal Records,
ALSO EXCEPT that portlon descrlbed In that Deed to Wlllarnalane Park and
Recreatlon Dlstrlct recorded December 4, 1992, Receptlon No 9268749, and
Correctlon Deed recorded February 9, 1993, Receptlon No 9308469, Lane County
Offlclal Records,
ALSO EXCEPT that portlon descrlbed In Exhlblt A of that
Sprlngfleld, recorded September 22, 1993, Receptlon No
offlclal Records
ALSO EXCEPT Marcola Road
Slldes 897, 898 and 899,
Deed to the Clty of
9360016, Lane County
Industrlal Park,
Lane County Plat
as platted and recorded ln Flle
Records, Lane County, Oregon
75,
"FOR ASSESSMENT'
AND TAXATION
ONLY
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First American
First Amencan Title Insurance Company of Oregon
600 Country Club Road
Eugene, OR 97401
Phn' (541)484,2900
Fax - (541)484 7321
RONALD DENTON
TITLE OFFICER
radenton@flrstam com
First Amencan Title Insurance Co NCS
5 First Amencan Way
Santa Ana, CA 92707
Order No 7199-704354
November 02, 2005
Attn TOni Rlce-Groetsch
Phone No (714)250'8403' Fax No
Emall tnce@flrstam com
(714)250-7479
Re NCS-197838,SAl
6th Supplemental Prelimmary Title Report
AlTA Owners Standard Coverage liability $ Premium $
ALTA Owners Extended Coverage Liability $ 4,798,57000 Premium $
ALTA Lenders Standard Coverage Llab\llty $ Premium $
ALTA Lenders Extended Coverage liability $ Premium $
Endorsement Premium $
Govt Service Charge Cost $
Other Cost $
12,867 53
1500
We are prepared to Issue Title Insurance PoliCY or PoliCies In the form and amount shown above, Insunng
title to the follOWing described land
The land referred to In this report IS described In Exhibit A attached hereto
and as of July 10, 2007 at 8 00 am, title vested In
SC Spnngfield LLC, a Delaware Limited liability Company
Subject to the exceptions, exclUSions, and stipulations which are ordlnanly part of such Policy form and
the follOWing
1 Taxes for the fiscal year 2007-2008 a lien due, but not yet payable
2 Easement, including terms and proVISions contained therein
Recording Information May 01, 1919, Reception No 28742
In Favor of Benham Irrigation Company, Its successors and assigns
For Ditch pnvllege
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
. ,
, '
Preliminary Report
Order No 7199-704354
Page 2 of 5
3 Easement, including terms and provIsions contamed therem
Recording Information March 16, 1925, Reception No 64580
In Favor of City of Eugene, Oregon, a municipal corporation by and through
the Eugene Water 80ard
For Right of way
4 Easement, including terms and provIsions contained therein
Recording Information November 17, 1961 In Reel 183, Page 67, Reception No 50778
In Favor of The City of Springfield, a mUnicipal corporation, In Lane County,
Oregon
For Constructing, reconstructing, maintaining and usmg a sanitary
sewer Ime
5 Restrictions shown on the recorded pial/partition of Partition Plat 94-P0491
6 Deed of Trust and the terms and conditions thereof
GrantorjTrustor SC Springfield LLC, a Delaware limited liability company
Grantee/8enefiClary MldFlrst Bank, a federally chartered savings assoSlatlon
Trustee First American Title Insurance Company
Amount $7,800,000 00
Recorded September 08, 2006
Recording Information 2006,065774
(Includes other property)
7 Encroachment of an eXlstmg bUilding as disclosed by that ALTA/ACSM Survey performed by K &
D Engineering dated August 28, 2006, deSignated as Job No dwg\2005\05-89\89-lows'alta dwg
8 Affirmative coverage may be prOVided by First American Title Insurance Company of Oregon as
to the follOWing exceptions If suffiCient documentation IS proVided Any matters disclosed by the
extended search Will be set-forth as exceptions to the title
a 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
b Any facts, rights, Interest, or claims which are not shown by the publiC records but
which could be ascertained by an inspection land or by making inquiry of person In
possession thereof
c Easements, encumbrances, or claims thereof, not shown by the publiC records,
unpatented mining claims, reservations or exceptions In patents or m acts authOriZing
the Issuance thereof, water rights, claims or litIe to water
d Any lien, or right to allen, for services, labor, or material heretofore or hereafter
furnished, Imposed by law and not shown by the publiC records
9 Any conveyance or encumbrance by SC Springfield, LLC should be executed pursuant to their
Operatmg Agreement, a copy of which IS m our possession
- EN D OF EXCEPTIONS -
Arst AmerIcan Title
Prellmmary Report
Order No 7199-704354
Page 3 of 5
NOTE We find no Judgments or United States Internal Revenue hens against Lowe's HIW, Inc
NOTE Taxes for the year 2006-2007 PAID IN FULL
Tax Amount $196,72799
Map No 170325U02300
Property ID 1517653
Tax Code No 01900
(Includes other property)
NOTE The above amount Includes a payment for Declassified Unzoned Farm taxes In the amount
of $101,655 93
THANK YOU FOR CHOOSING FIRST AMERICAN TITLE!
WE KNOW YOU HAVE A CHOICE!
cc Lowe's HIW, Inc
cc SC Springfield LLC
cc Jones, Waldo, Holbrook & McDonough, PC
170 South Main Street 15th Floor, Salt Lake City, UT 84101-1644
Arst American Tide
, ,
,
Preliminary Report
Order No 7199-704354
Page 4 of 5
~
~_ ~ '4#
First American Title Insurance Company of Oregon
SCHEDULE OF EXCLUSIONS FROM COVERAGE
ALTA LOAN POLICY (10/17/92)
The following matters are expressly exduded from the coverage of thtS policy and the Company will not pay loss or damage, costs attorneys fees or expenses which anse
by reason of
1 (a) Any law, ordmance or governmental regulation (Includmg but not IImrted to bUilding and zoning laws ordinances, or regulations) restnctlng regulating, prohlbrtlng
or relating to (I) the occupancy, use or enpyment of the land, (II) the character dimenSions or location of any Improvement now or hereafter erected on the land
(III) a separation In ownership or a change In the dmlensKlf1S or area of the land or any parcel of which the land IS or was a part or (IV) enVIronmental protection or
the effect of any vIOlation of these laws, orchnances or governmental regulations except to the extent that a notice of the enforcement thereof or a notice of a
defect, hen or encumbrance resulbng from a VIOlation or alleged vlolabon affecting the land has been recorded 111 the pubhc records at Date of PoliCY,
(b) MY governmental jXIllce power not excluded by (a) above except to the extent that a notICe of the exercise thereof or a notice of a defect lien or encumbrance
resulbng from a vlolal:ton or alleged vK>latK>l1 affecting the land has been recorded In the public records at Date of Policy
2 Rights of eminent domain unless notice of the exercise thereof has been recorded In the public records at Date of Policy but not exdudlng from coverage any taking
which has occurred pnor to Date of Pohcy which would be blOdll1Q on the nghts of a purchaser for value Without knowledge
Defects hens, encumbrances adverse dam'lS or other matters
(a) created suffered, assumed or agreed to by the II1sured dalmcmt
(b) not known to the Company tlOt recorded 111 the publIC records at Date of Pohcy but known to the II1SUred claimant and not disclosed 111 wntmg to the Company by
the Insured claimant pnor to the date the Insured dalmaot became an Insured under thiS policy
(c) resultll1g In no loss or damage to the II1sured claimant
(d} attachll1g or created subsequent to Date of Pohcy (except to the extent that thiS poliCY Insures the pnonty of the lien of the II1SUred mortgage over any statutory hen
for seNlCes labor or matenal or the extent II1surance IS afforded herell1 as to assessments for street Improvements under construcbon or completed at date of
pohcy) or
(e) resuttmg In loss or damage which would not have been sustamed If the II1sured claimant had paid value for the II1sured mortgage
4 Unenforceabllity of the lien of the Insured mortgage because of the Inablhty or faffure of the !1lsured at Date of PoliCY, or the lI1ablllty or failure of any subsequent owner
ofthe".J~",-":,.-,j tocompfy WTth the applicable dOlngbusll1ess laws of the state 111 which the land IS Situated
5 Invahdily or unenforceablhty of the hen of the Insured mortgage or claim thereof which anses out of the transacbon evidenced by the Insured mortgage and IS based
upon usury or any consumer CredIt protection or truth In lendll1g law
6 MY statutory hen for ServiceS labor or matenals (or the claim of pnonty of any statutory hen for services, labor or materials over the hen of the Insured mortgage)
aOSlng from an Improvement or work related to the land which IS contracted for and commenced subSequent to Date of PolICy and Is not financed 111 whole or 111 part by
proceeds of the Indebtedness secured by the Insured mortgage which at Date of Policy the Insured has advanced or Is obligated to advance
7 Any claim, which arises out of the transaction creating the Interest of the mortgagee msured I:Jy thiS polley I:Jy reason of the operabon of federal bankruptcy, state
Insolvency, or similar Creditors nghtslaws that IS based on
(I) the transaction creatmg the Interest of the Insured mortgagee being deemed a fraudulent conveyance or fraudulent transfer, or
(II) the sutordlnatlon of the Interest: of the InsUred mortgagee as a result of the appllcabon of the doctIme of eqUitable sutordmatlon, or
(It I) the transacbon creating the 1I1t:erest: of the Insured mortgagee being deemed a preferential transfer except where the preferential transfer results from the failure
(a) to tlmely record the Instrument of transfer or
(b) of such recordatlon to Impart notlce to a purchaser for value or a Judgment or hen creditor
ALTA OWNER'S POLICY (10/17/92)
The follOWing matters are expressly exduded from the coverage of thiS policy and the Company Will not pay loss or damage, costs attorneys' fees or expenses which arise
by reason of
1 (a) My law ordinance or governmental regulation (Includmg but not limited to bUilding and zoning laws ordmances, or regulabons) restnctmg regulating prohlbltmg
or relating to (I) the occupancy use, or enjoyment of the land (II) the character, dimenSions or locabon of any Improvement now or hereafter erected on the land,
(Ill) a separation In ownership or a change In the dimenSions or area of the land or any parcel of which the land IS or was a part, or (IV) environmental protection, or
the effect of any VIolation of these laws, ordmances or governmental regulatlOl1s, except to the extent that a notlce of the enforcement thereof or a notice of a
defect lien or encumtxance resulting from a VIOlation or alleged vlolabon affecting the land has been recon:led In the public records at Date of Policy
(b) Arrf governmental police power not excluded by (a) above, except to the extent that a notice of the exerose thereof or a notice of a defect, lien or encumbrance
resultJng from a vlolatlon or alleged violation affect:lI1g the land has been recorded m the pubhc records at Date of Policy
Rights of emment domam unless notice of the exetose thereof has been recorded In the publiC records at Date of Policy, but not excluding from coverage any taking
which has occurred pnar to Date of Policy which WOUld be bmdll1g on the nghts of a purchaser for value WTthout: knowledge.
Defects liens, enOJmbrances adverse claims or other matters
(a) created, suffered assumed or agreed to by the Insured claimant,
(b) not known to the Company, not recorded In the public records at Date of Pohey but known to the II1sured claimant and not disclosed 111 wntIng to the Company by
the Insured claimant pnor to the date the Insur<<l claimant became an Insured under thiS policy,
(c)resutting In no loss or damage to the Insured dalmant,
(d) attaching or created subsequent to Date of PoliCY, or
(e) resulbng 111 loss or damage which would not have been SUstained If the Insured claimant had paid value for the estate or Interest Insured by thiS poliCY
4 My claim which anses out of the transact:Jon vesting In the Insured the estate or Interest Insured by thiS policy by reason of the operation of federal bankruptcy state
Insolvency orslmllarcredll:ors nghtslaws that IS based on
(I) the transaction creating the estate or Interest Insured by thiS policy being deemed a fraudulent conveyance or fraudulent transfer, or
(II) the transaction creatll1g the estate or Interest Insured by thiS policy bemg deemed a preferenbal transfer except where the preferential transfer resul~ from the
faIlure
(a) tobmely record the 1I1strument of transfer, or
(b) of such recordabon to Impart nobcetoa purchaser for value or a Judgment or lien creditor
SCHEDULE OF STANDARD EXCEPTIONS
The AL TA standard policy form Will contain In Schedule B the follOWing standard exceptions to coverage
1 Taxes or assessments which are not shown as exlstjng liens by the records of any taxing authority that leVIes taxes or assessments on real property or by the public
records, proceec:lIng by a public agency which may resutt In taxes or c.=",.~~...w .w, or notice of such proceedings whether or not shown by the records of such agency or
by the publiC records
Facts, nghts mterests, or claIms which are not shown by the publiC records but which could be ascertamed by an Inspection of said land or by making Inquiry of persons
In possession thereof
Easements or claims of easement, not shown by the pubhc records, reservations or exceptions In patents or In Acts authonZlng the Issuance thereof, water nghts claims
or btle to water
4 My encroachment (of existing Improvements located on the subject land onto adJOlmng land or of existing Improvements located on adjoining land onto the subject
land), enrumbrance, vlQlatlon, vanatlon or adverse circumstance affecting the btJe that would be disclosed by an accurate and complete land survey of the subject land
Any lien or right to a hen, for Services labor, matenal, equipment rental or workers compensation heretofore or hereafter furnished Imposed by law or not shown by
the publiC records
NOTE A SPEOMEN COPY Of THE POLICY FORM (OR FORMS) WILL BE FURNISHED UPON REQUEST
TI149Rev6-{)6
Arst AmerIcan Title
;
Preliminary Report
Order No 7199-704354
Page 5 of 5
Exhibit "Au
Real property In the County of Lane, State of Oregon, deScribed as follows
A portion of Parcel 3 of PartitIOn Plat Number 94,P0491, a partitIOn plat recorded In Lane County, Oregon
that IS more particularly descnbed as follows
Beginning at a pOint on the east line of said Parcel 3 that IS North 00002'00" West 175 93 feet from the
southeast corner of said Parcel 3, thence South 89058'00" West 197 82 feet, thence South 00002'00"
East 161 95 feet, thence South 45003'27" East 1982 feet to a pOint on the north nght-of'way line of
Marcola Road, thence South 89057'22" West, along said north nght-of'way line, 80 03 feet, thence North
44057'15" East 19 81 feet, thence North 00002'00" West 161 96 feet, thence South 89058'00" West
18835 feet, thence South 83025'02" West 9124 feet, thence South 89058'00" West 241 50 feet, thence
North 00002'00" West 34122 feet, thence North 89058'00" East 33 48 feet, thence North 00002'00" West
32983 feet, thence South 89058'00" West 14465 feet, thence along the arc of a 738 51 foot radiUS
curve to the nght (long chord of which bears North 21031'22" East 55 73 feet) a distance of 5575 feet,
thence North 89058'00" East 38 55 feet, thence North 44058 00" East 102 82 feet, thence North
72043'45" East 54 71 feet, thence South 89050'16" East 636 23 feet, thence South 60002'00" East 70 75
feet to a pOint on the east line of said Parcel 3, thence South 00002'00" East 763 85 feet to the POint of
Beginning
Tax Parcel Number 1517653
f
Arst Amencan Trtle