HomeMy WebLinkAboutBuilding Miscellaneous 1997-11-28
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KEY TITLE
COMPANY
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131 EAST ELr:.1i'.:...._~A A\I'~....ug
P. O. BOX 1456
EUGENE, OR 97440-1456
PHONE (541) 349-2409
FAX (541) 349-2414
November 28, 1997
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HAROLD KOROP, DEBBIE KOROP, AARON K. STICKLER and DIANE STICKLER
451 N. 72ND PLACE
SPRINGFIELD, OR 97478
ReI Escrow No. 29-8802
We have completed the above escrow and enclosed are
( ) Receipt for Funds Deposited
( ) BUD Settlement Statement
(X) Escrow Statement. FINAL
( ) Our Check, in the amount of $
(X) Policy of Title Insurance No. 30-20780
( ) Fire Insurance Binder/Policy
( ) Note, dated , for the sum of $
( ) Mortgage or Trust Deed
( ) Contract of Sale, original copy
( ) Assignment of Contract
(X) Recorded Warranty Deed RR#97760B8
( ) Satisfaction of Mortgage
( ) Reconveyance of Trust Deed
( ) Collection Escrow Instructions
( )
( )
Recorded documents to which you are
County Recorder. Any other documents
to you as soon as they are available.
entitled will be mailed to you by the
to which you are entitled will be sent
Please accept our thanks for this opportunity to serve you. We hope we will
have future opportunity to help you with our Title, Escrow. and Collection
services.
Sincerely,
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LYNN TERRIEN-BALDWIN, ESCROW OFFICER
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810 Dry
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KEY TITLE
COMPANY
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131 EAST EL.:.......~.. AVENUE
P. O. BOX 1456
EUGENE, OR 97440-1456
PHONE (541) 349-2409
FAX (541) 349-2414
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This form is furnished to give you
costs. Amounts paid to and by KEY
paid or settled outside of escrow are
BUYER'S CLOSING STATEMENT
a statement of actual settlement
through escrow are shown. Items
not shown.
ESCROW NO.
TITLE ORDER NO..
BUYER.
29-8802
30-20780
HAROLD KOROP, DEBBIE KOROP, AARON K. STICKLER and DIANE
STICKLER
GARY E. BRANSON and DOLORES J. BRANSON
LOT 9TH & OLYMPIC, SPRINGFIELD, OR 97477
11/06/97 - PINAL
SELLER.
SUBJECT PROPERTY.
CLOSING DATE.
PURCHASE PRICE
s
DEBIT
35.000.00
CREDIT
BUYER DEPOSITS.
RECEIVED IN ESCROW
35.072.45
PRORATIONS AS OF 11/06/9?
REAL PROPERTY TAX @
paid to 0?/01/97
128.47
45.05
ESCROW FEES:
TO: KEY TITLE COMPANY
ESCROW CLOSING PEE - 50\
77.50
TITLE CHARGES.
TO: KEY TITLE COMPANY
WARRANTY DEED
40.00
ADDITIONAL CHARGES & CREDITS:
CASHIER'S CHECK. PLEASE. PAYABLE TO KEY
TITLE
1$
CO.
TOTALS
35.117.50
$35.117.50
KEY TITLE AND ESCROW COMPANIES
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(f~~4~--.:4 )-
~~~~ERRIE~-BAtrlWIN, ESCROW OFFICER
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.After recording return to:
HAROLD KOROP
451 N. 72ND PLACE
SPRINGFIELD. OR 97478
TITLE ORDER NO:
KEY ESCROW NO:
30-20780
29-8802
Until a change is requested tax statements
shall be sent to the following address:
SAME AS ABOVE
9776088
6p~~~" Rgt'lr'~'
KEY T!l LE COMPANY
P.O B.ox 1456
Eugene, OR 97440
WARRANTY DEED STATUTORY FORM
(INDIVIDUAL or CORPORATION)
Z387NDV.06 '97"05REC
I~~OV.06'97"05PFUNO
10.00
10.00
GARY E. BRANSON and DOLORES J. BRANSON, Grantor,
1393NOV.06'97"05A&T FUND 20.00
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conveys and warrants to:
DEEBE
HAROLD KOROP and ~6~~f8fKOROP. husband and wife. as to an undivided 50.000\
interest and AARON K. STICKLER and DIANE STICKLER, husband and wife, as to an
undivided 50.000\ interest, Grantee,
the following described real property free of encumbrances except as
specifically set forth herein:
SEE EXHIBIT "A" WHICH IS MADE A PART HEREOF BY THIS REFERENCE
Tax Account No:
Map No: n-OS-~I.4>- 41...-l.\1 OD
THIS INSTRUMENT WILL NOT ALLOW USE OF THE PROPERTY DESCRIBED IN THIS INSTRUMENT
IN VIOLATION OF APPLICABLE LAND USE LAWS AND REGULATIONS. BEFORE SIGNING OR
ACCEPTING THIS INSTRw.~.'" THE PERSON ACQUIRING FEE TITLE TO THE PROPERTY
SHOULD CHECK WITH THE APPROPRIATE CITY OR COUNTY PLANNING DEPARTMENT TO VERIFY
APPROVED USES AND TO DETERMINE ANY LIMITS ON LAWSUITS AGAINST PARMING OR POREST
PRACTICES AS DEPINED IN ORS 30.930.
The true consideration for this conveyance is $35,000.00. However, if
the actual consideration consists of or includes other property or other
value given or promised, such other property or value was part of the/the
whole of the (indicate which) consideration.
If grantor is a corporation, this has been signed by authority of the Board of
Directors.
Dated this
6
day of
November
, 1997.
~~(S):
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GARY E. ~~RANSON
CiJ.........tr.."',., ~v-
DOLORES J. BRANSON
~At4(l~-
STATE OF OREGON, County of
Lane
)ss.
This instrument was acknowledged before me on
by GARY E. BRANSON and DOLORES J. BRANSON
November 6
, 1997,
;t: y. --r-;-; .: A" .. .~
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No.' ry Public for Oregon
My commission expires:
8/31/2001
"c..c....c.c:.."""'"
~"_~~w~.. OFFICIAL SEAL
LYNN TERRIEN-BALDWIN
, 'NOTARY PUBLIC. OREGON
\., ./ COMMISSION NO. 303272
.. M'!.SOMMlSSION EXPIRES ~~&.}!,!~:
:..!"~....c..<-o~_.--.'~~''''.' ,c.'l'l
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9776088
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3
EXHIBIT "A"
. A portion of Lots 1 and 2, Block 9 of THE E. E. KEPNER ADDITION TO
. SPRINGFIELD, as platted and recorded in Book 4, Page 48, Lane County Oregon
Plat Records, in Lane County, Oregon qeing more particularly described as
follows:
Beginning at the Southeast corner of the herein described Lot 1, said corner
being the intersection of the North right-of-way (being 29,20 feet from when
measured at right angles to the centerline) of Olympic Street and the West
right-of-way (being 30.00 feet from when measured at right angles to the
centerline) of 9th Street; thence running along said North right-of-way of
Olympic Street South 890 58' 00" West 85.01 feet to a point being 15.00 feet
from when measured at right angles to the West line of said Lot 2; thence
leaving said right-of-way and running parallel to and 15.00 feet from said
West line of Lot 2 North 000 12' 35" East 75.00 feet to a point; thence
leaving said parallel line and running South 760 54' 55" East 22.03 feet to a
point being 70.00 feet from when measured at right angles to said North
right-of-way; thence running along a line parallel to said North right-of-way
North 890 58' 00" East 63.52 feet to a point on said West right-of-way of 9th
Street; thence leaving last mentioned 70.00 foot parallel line and running
along said West right-of-way South 000 12' 00" West 70.00 feet to the point of
beginning, being all in Springfield, Lane County, Oregon.
TOGETHER WITH an easement for the installation and maintenance of a sanitary
sewer line being more particularly described in document recorded November 5,
1997, Reel 2353, Reception No. 91-75604, Official Records of Lane County,
Oregon
SUBJECT TO:
1. Taxes for the fiscal year 1997-98, a lien in the amount to be determined,
but not yet payable.
Account No.: 223758 & 1523164
(Note: Not segregated-affects additional property)
2. The rights of the public in and to that portion of the premises herein
described lying within the limits of Olympic Street and 9th Street.
3. Improvement Agreement, including the terms and provisions thereof,
Dated: September 30, 1997
Recorded: October 2, 1997, Reel 2341, Reception No. 97-61039,
Official Records for Lane County, Oregon.
Between: Scott Landstra, Melanie Landstra, Larry Fhy, Vernette L. Fhy,
and the City of Springfield.
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State of Oregon
County of Lane - 55.
I. the County Clerk, in and for the said
County, do hereby certify that the within
instrument was received for record at
'97 NOU I) p~ 2=39
2354R
Reel
Lane County OFFICiAL Records
Lane County Clerk
By,
a;P---l~~a.Y
County Clerk
(.' ""AU~V .. AU"" UA~u.a CUA~,,"
-~~ COmpanye<l.,...gon
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POLICY OF TITLE INSURANCE
38 3404 106 00001306
CmCAGO TITLE INSURANCE COMPANY OF OREGON
SUBJECT TO THE EXCLUSIONS FROM COVERAGE, THE EXCEPTIONS FROM COVERAGE CONTAINED
IN SCHEDULE B AND THE CONDITIONS AND STIPULATIONS, CHICAGO TITLE INSURANCE
COMPANY OF OREGON, an Oregon corporation, herein called the Company, insures, as of Date of
Policy shown in Schedule A, against loss or damage, not exceeding the Amount of Insurance stated in
Schedule A, sustained or incurred by the insured by reason of:
I. Title to the estate or interest described in Schedule A being vested other than as Slated therein;
2. Any defect in or lien or encumbrance on the title;
3. Unmarketability of the title;
4. Lack of a right of access to and from the land.
The Company will also pay the costs, attorneys' fees and expenses incurred in defense of the title, as
insured, but only to the extent provided in the Conditions and Stipulations.
CHICAGO TITLE INSURANCE COMPANY OF OREGON
Issued by:
KEY TITLE COMPANY
98 EAST 13TH A VENUE
P.O. BOX 1456
EUGENE,OREGON91~
(503) 345-4145
By:
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Authorized Signature
ALTA OWNER'S POLICY (10-17-92)
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4" ~HCE "\'\
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! ~ /~WORA'> \
~ l- \SJRALJ 011 By:
\\~..... .... f J.-f/l t
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Secretary
Lo,,\~ ---
President
Reorder Form No. 9452
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.....II.U".......S AND STIPULATIONS" (Continued from Reverse Side 01 Pdlcy Face)
5. PROOF OF LOSS OR DAMAGE
In addition to and after the notices required under Section 3 of these Con-
ditions and Stipulations have been provided the Company. a proof of loss
or damage signed and sworn to by the insured claimant shall be furnished
to'the Company within 90 days after the insured claimant shall ascertain
the facts giving rise to the loss or damage. The proof of loss or damage
shall describe the defect in, or lien or encumbrance on the title. or other
matter insured against by this policy which constitutes the basis of loss or
damage and shall state, to the extent possible, the basis of calculating the
amount 01 the loss or damage. lithe Company is prejudiced by the lailure
of the insured claimant to provide the required proof of loss or damage, the
Company's obligations 10 the Insured under the policy shall terminate, in-
cluding any liability or obligation to defend, prosecute, or continue any litiga-
tion, with regard to the matter or matters requiring such proof of loss or
damage,
In addition, the insured claimant may reasonably be required to submit to
examination under oath by any authorized representative of the Company
and shall produce for examination, Inspection and copying, at such reasonable
times and places as may be designated by any authorized representative
of the Company, all records, books, ledgers, checks, correspondence and
memoranda, whether bearing a date belore or after Date of Policy. which
reasonably pertain to the loss or damage, Further. If requested by any autho-
rized representative of the Company, the insured claimant shall grant its
permission, in writing, for any authorized representative of the COmpany
to examine, inspect and copy all records, books, ledgers, checks, cor-
respondence and memoranda in the custody or control of a third party, which
reasonably pertain to the loss or damage. All information designated as con-
fidential by the insured claimant provided to the Company pursuant to this
Section shall not be disclosed to others unless, in the reasonable judgment
of the Company, it is necessary in the administration of the claim. Failure
of the insured claimant to submit for examination under oath, produce other
reasonably requested information or ~rant permission to secure reasonably
necessary information from third parties as required in this paragraph shall
terminate any liability of the Company under this policy as to that claim.
6. OPTIONS TO PAY OR OTHERWISE SETTLE CLAIMS; TERMINATION
OF LIABILITY
In case of a claim under this policy, the Company shall have the following
additional options:
(a) To Payor Tender Payment of the Amount of Insurance.
to payor tender payment of the amount of insurance under this policy
together with any costs, attorneys' fees and expenses incurred by the in-
sured claimant, which were authorized by the Company, up to the time of
payment or tender of payment and which the Company is obligated to pay.
Upon the exercise by the Company of this option, all liability and obliga-
tions to the insured under this policy, other than to make the payment re-
Quired, shall terminate, including any liability or obligation to defend, pros-
ecute, or continue any litigation, and the poncy shall be surrendered to the
Company for cancellation.
(b) To Payor Otherwise Settle With Parties Other than the Insured
or With the Insured Claimant.
(i) to payor otherwise settle with other parties for or in the name of an
insured claimant any claim Insured against under this policy, together with
any costs, attorneys' fees and expenses incurred by the insured claimant
which were authorized by the Company up to the time of payment and which
the Company is obligated to pay; or
(ii) to payor otherwise settle with the insured claimant the loss or damage
provided for under this policy, together with any costs, attorneys' fees and
expenses incurred by the insured claimant which were authorized by the
Company up to the time of payment and which the Company Is obligated
to pay,
Upon the exercise by. the Company of either of the options provided for
in paraaraphs (b)(il or (ii), the Company's obligations to the insured under
this polley for the c aimoo loss or damage, other than the payments required
to be made, shall terminate, including any liability or obligation to defend,
prosecute or continue any litigation.
7. DETERMINATION, EXTENT OF LIABILITY AND COINSURANCE
This policy is a contract of indemnity against actual monetary loss or
damage sustained or incurred by the insured claimant who has suffered
loss or damage by reason of matters insured against by this policy and only
to the extent herein described.
(a) The liability of the Company under this policy shall not exceed the least
of:
(i) the Amount of Insurance stated in Schedule A; or,
(ii) the difference between the value of the insured estate or interest
~s insured and the value of the insured estate or interest subject to the defect,
lien or encumbrance insured against by this policy.
(b) In the event the Amount of Insurance stated in Schedule A at the Date
of Policy is less than 80 percent of the value of the insured estate or interest
or the full consideration paid for the land. whichever is less, or if subsequent
to the Date of Policy an improvement is erected on the land which increases
the value of the insured estate or interest by at least 20 percent over the
Amount of Insurance stated in Schedule A, then this Policy is subject to
the following:
(i) where no subsequent improvement has been made, as to any partial
loss, the Company shall only pay the loss pro rata in the proportion that the
amount of insurance at Date of Policy bears to the total value of the
insured estate or interest at Date of Policy; or
(ii) where a subsequent Improvement has been made, as to any partial
loss, the Company shall only pay the loss pro rata In the proportion that
120 percent of the Amount of Insurance stated In Schedule A bears to the
sum of the Amount of Insurance stated In Schedule A and the amount ex.
pended for the improvement.
The provisions of this paragraph shall not apply to costs, attorneys' lees
and expenses for which the Company is liable under this policy, and shall
only apply to that portion of any loss which exceeds. in the aggregate, 10
percent of the Amount of Insurance stated In Schedule A.
(c) The Company will pay only those costs, attorneys' fees end expenses
incurred in accordance with Section 4 of these Conditions and Stipulations.
8. APPORTIONMENT
If the land described in Schedule A consists of two or more parcels which
are not used as a single site, and a loss Is established affecting one or more
of the parcels but not all, the loss shall be computed and sellled on a pro
rata basis as if the amount of insurance under this policy was divided pro
rata as to the value on Date of Policy of each separate parcel to the whole,
exclusive of any improvements made subsequent to Date of Polley, unless
a liability or value has otherwise been agreed upon as to each parcel by
the Company and the insured at the time of the issuance of this policy and
shown by en express statement or by en endorsement ettached to this policy.
9. LIMITATION OF LIABILITY
(a) If the Company establishes the title, or removes the alleged delect,
lien or encumbrance, or cures .the lack of a right of access to or from the
land, or cures the claim of unmarketabllity of title, all as insured, in a
reasonably diligent manner by any method,lncludlng litigation and the com.
pletion of any appeals therefrom, It shall have fully performed its obligations
with respect to that matter and shall not be liable for any loss or damage
caused thereby.
(b) In the event of any litigation, including litigation by the Company or
with the Company's consent. the Company shall have no liability for loss
or damage until there has been a final determination by a court of compe-
tent jurisdiction, and disposition of all appeals therefrom, adverse to the title
as insured.
(c) The Company shall not be liable lor loss or damage to any insured
for liability voluntarily assumed by the insured in settling any claim or suit
without the prior written consent of the Company.
10. REDUCTION OF INSURANCE; REDUCTION OR TERMINATION OF
LIABILITY
All payments under this policy, except payments made for costs, attorneys'
fees and expenses, shall reduce the amount of the insurance pro tanto.
11. LIABILITY NONCUMULATIVE
It is expressly understood that the amount of insurance under this policy
shall be reduced by any amount the Company may pay under eny policy
insuring a mortgage to which exception is taken in Schedule B or to which
the Insured has agreed, assumed. or taken subject. or which is hereafter
executed by an insured and which is a charge or lien on the estate or in-
terest described or referred to in Schedule A, and the amount so paid shall
be deemed a payment under this policy to the insured owner.
12. PAYMENT OF LOSS
(a) No payment shall be made without producing this policy for endorse-
ment of the payment unless the policy has been lost or destroyed, In which
case proof of loss or destruction shall be furnished to the satisfaction of
the Company.
(b) When liability and the extent of loss or damage has been definitely
fixed in accordance with these Conditions and Stipulations, the loss or damage
shall be payable within 30 days thereafter.
13. SUBROGATION UPON PAYMENT OR SETTLEMENT
(al The Company's Right of Subrogation.
Whenever the Company shall have settled and paid a claim under this
policy, all right of subrogation shall vest in the Company unallected by any
act of the insured claimant.
The Company shall be subrogated to and be entitled to all rights and
remedies which the insured claimant would have had against any person
or property In respect to the claim had this policy not been Issued. II r..
quested by the Company, the insured claimant shall transfer to the Com.
pany all rights and remedies against any person or property necessary in
order to pertect this right of subrogation. The insured claimant shall permit
the Company to sue, compromise or settle in the name of thelnsurod claim-
ant and to use the name of the insured claimant in any transaction or litiga-
tion involving these rights or remedies.
If a payment on account of a claim does not fully cover the loss of the
insured claimant, the Company shall be subrogated to these rights and
remedies in the proportion which the Company's payment bears to the whole
amount of the loss.
If loss should result from any act of the insured claimant, as stated above.
that act shall not void this policy, but the Company, In that event, shall be
required to pay only that part of any losses insured against by this polley
which shall exceed the amount if any, lost to the Company by rGason of
the impairment by the insured claimant of the Company's right of su.., "tr".._.,.
&.:.^"'~"'''''''''"'''''' I ",,,,., __. _. ....__
The following maners are expressly e. from the coverege of this policy end the Com.1II not pay loss or demage, costs, enorneya' fees
or expenses which arise by reason of:
1. . (a) Any law, ordinance or governmentel regulation (including but not limited to building and zoning laws, ordinances, or regulations) restrict.
lng, regulating, prohibiting or relating to (I) the occupancy, use, or enjoyment of the land: (II) the cheracter, dimensions or location of any
Improvement now or hereafter erected on the land; (III) a separation In ownership or a change In the dimensions or area of the land or Bny
parcel of which the land Is or was a part; or (Iv) environmental protection, or the effect of any violation of these laws, ordinances or
governmental regulations, except to the extent that 8 notice of the enforcement thereof or 8 notice of a defect, lien or encumbrance
resulting from a violation or alleged vloletion aftectlng the land has been recorded In the public records at Date of Policy.
(b) Any govemmental police power not excluded by (a) above, except to the extent that a notice ofthe exercise thereof or a notice of a defect, lien
or encumbrance resuttlng lrom a violation or alleged violation aftectlng 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 excluding from
coversge any teking which haa occurred prior to Date 01 Policy which would be binding on the rights of a purchaser for value without knowledge.
3. Defects, liens, encumbrances, adverse claims or other matters:
(8) created, suffered, assumed or agreed to by the Insured claimant;
(b) not known to the Company, not recorded In the public records at Date 01 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) resuttlng In no loss or damage to the Insured claimant;
(d) altachlng or created subsequent to Date of Policy: or
(e) resulting In loss or damage which would not have been sustained Ifthelnsured claimant had paid value for the estate or Interest Insured by
this policy.
4. Any claim, which arises out of the transaction vesting In the Insured the estate or interest Insured by this polley, by reason of the operation of
federal bankruptcy, state Insolvency, or similar creditors' rights laws, that Is based on:
(I) the trensaction creating the estate or Interesllnsured by this policy being deemed a fraudulent conveyance or freudulent trsnsler: or
(II) the trensactlon creating the estete or Interest Insured by this policy being deemed a preferential transfer except where the preferential
transfer results from the failure:
(a) to timely record the Instrument of transferj or
(b) of such recordation to Impart notice to a purchaser for value or a judgment or lien creditor.
CONDITIONS AND STIPULATIONS
1. DEFINITION OF TERMS
The followin~ terms when used in this policy mean;
(a) "insured : the Insured named In Schedule A, and, subject to any
rights or defenses the Company would have had against the named insured,
those who succeed to the interest of the named insured by operation of law
as distinguished from purchase including, but not limited to, heirs, distributees,
devisees, survivors. personal representatives. next of kin, or corporate or
fiduciary successors.
(b) "insured claimant"; an insured claiming loss or damage.
(c) "knowledge" or "known"; actual knowledge, not constructive
knowledge or notice which may be imputed to an insured by reason of the
public records as defined in this policy or any other records which impart
constructive notice of matters affecting the land.
(d) "land"; the land described or referred to in Schedule A, and im-
provements affixed thereto which by law constitute real property. The term
"land" does not include any property beyond the lines of the area descri~
ed or referred to in Schedule A, nor any right, title, interest, estate or ease-
ment in abutting streets, roads. avenues, alleys, lanes, ways or waterways,
but nothing herein shall modify or limit the extent to which a right of access
to and from the land Is Insured by this policy.
(e) "morigage": mortgage, dsed of trust, trust dsed, or other security
instrument.
(f) "public records"; records established under state statutes at Date
of Policy for the purpose of imparting constructive notice of matters relating
to real property to purchasers for value and without knowledge. With respect
to Section 1(a) (iv) of the Exclusions From Coverage, "public records" shall
also include envirgnmental protection liens filed in the records of the clerk
of the United States district court for the district in which the land is located.
(g) "unmarketability of the title"; an alleged or apparent matter affecting
the title to the land, not excluded or excepted from coverage, which would
entitle a purchaser of the estate or interest described in SChedule A to be
released from the obligation to purchase by virtue of a contractual condition
requiring the delivery of marketable title.
2. CONTINUATION OF INSURANCE AFTER CONVEYANCE OF TITLE
The coverage of this policy shall continue in force as of Date of Policy
in favor of an insured only so long as the insured retains an estate or in-
terest in Ihe land, or holds an indebtedness secured by a purchase money
mortgage given by a purchaser from the insured, or only so long as the
insured shall have liability by reason of covenants of warranty made by the
insured in any transfer or conveyance of the estate or interest. This policy
shall not continue in force in favor of any purchaser from the insured of
either (i) an estate or interest In the land, or (ii) an indebtedness secured
by a purchase money mortgage given to the insured.
3. NOTICE OF CLAIM TO BE GIVEN BY INSURED ClAIMANT
The Insured shall notify the Company promptly in writing (i) In case of
any litigation as set forth In Section 4(a) below. (il) in cese knowledge shall
come to an insured hereunder of any claim of title or interest which is adverse
to the title to the estate or Interest, as insured, and which might cause loss
. or damase for which the Company may be liable by virtue of this policy,
or (iii) if title to the estate or inlerest, as insured, is rejected as unmarketable.
If prompt notice shall not be given 10 the Company, then as to Ihe insure
all liability of the Company shall terminate with regard to the matter or me
ters for which prompt notice is required: provided, however. that failure I
notify the Company shall in no case prejudice the rights of any insured undl
this policy unless the Company shall be prejudiced by the failure and the
only to the extent of the prejudice.
4. DEFENSE AND PROSECUTION OF ACTIONS; DUTY OF INSURE
CLAIMANT TO COOPERATE
(a) Upon written request by the insured and subject to the options co.
tained in Section 6 of these Conditions and Stipulations, the Company, ;
its own cost and without unreasonable delay, shall provide for the defem
of an insured in litigation in which any third party asserts a claim adver~
to the title or interest as insured, but only as to Ihose stated causes of actic
alleging a defect. lien or encumbrance or other matter Insured against t
this policy. The Company shall have the right to select couns
of its choice (subject to the right of the insured to object for reasonable C8US
to represent the insured as to those stated causes of action and shall n
be liable for and will not pay the fees of any other counsel. The Com par
will not r>8Y any fees, costs or expenses Incurred by the insured In the defem
of those causes of action which allege matters not insured against by th
policy.
(b) The Company shall have the right, at Its own cost, to institute and pro
ecute any action or proceeding or to do any other act which in Its oplni(
may be necessary or desirable to establish the title to the estate or Intere~
as insured, or to prevent or reduce loss or damage to the Insured. The Cor
pany may take any appropriate action under the terms of Ihls policy, wheth'
or not it shall be liable hereunder, and shall not thereby concede Iiablli
or waive any provision of this policy. If the Company shall exercise its rlgh
under this paragraph, it shall do so diligently.
(c) Whenever the Company shall have brought an action or interposl
a defense as required or permitted by the provislons of this policy, the Cor
pany may pursue any litigation to final determination by a court of comp
tent jurisdiction and expressly reserves the right, in its sole discretion,
appeal from any adverse judgment or order.
(d) In all cases where this policy permits or requires the Company to pre
ecute or provide for the defense of any action or proceeding, the insun
shall secure to the Company the right to so prosecute or provide defen:
In the action or proceeding, and all appeals therein. and permit the CO!
pany to use, at Its option. the name of the Insured for this purpose. Whenev
requested by the Company, the insured. at the Company's expense, sh,
give the Company all reasonable aid (i) in any action or proceeding, Secl
ing evidence, obtaining witnesses, prosecuting or defending the action
procsedlng, or effecting settlement, and (II) In any other lawful act whl<
In the opinion of the Company may be necessary or desirable to establl,
the title to the estate or interest as Insured. If the Company is prejudlcl
by the failure of the insured to furnish the required cooperation, the Cor
pany's obligations 10 the insured under the policy shall terminate, includit
any liability or obligation to defend, prosecute. or continue any Iitigatlc
with regard to the matter or matters requiring such. coopera~on.
CONOlOONS AND STr~ULAnoNs. (Continued and Concluded on Last Page 01 Ihis Policy)
. .
CONTINUED AND STIPULATIONS. ( Conlinued and Concluded From Reverse Side)
(b) The Company's Rights Against Non-Insured Obligors.
The Company's right of subrogation against non-insured obligors shall
exist and shall include, without limitation, the rights of the insured to indem.
nities. guaranties. other policies of insurance or bonds. notwithstanding any
terms or conditions contained in those instruments which provide tor subroga-
tion rights by reason of this policy.
14. ARBITRATION
Unless prohibited by applicable law, either the Company or the insured
may demand arbitration pursuant to the Title Insurance Arbitration Rules
of the American Arbitration Association. Arbitrable matters may include, but
are not limited to. any controversy or claim between the Company and the
insured arising out of or relating to this policy, any service of the Company
in connection with its issuance or the breach of a policy provision or other
obligation. AU arbitrable matters when the Amount of Insurance is $1 ,000.000
or less shall be arbitrated at the option of either the Company or the in-
sured. All arbitrable matters when the Amount of Insurance is in excess of
$1,000.000 shell be arbllratad only when agreed to by both the Company
and the insured. Arbitration pursuant to this policy and under the Rules in
effect on the date the demand for arbitration is made or. at the option of
the insurad, the Rules in effect at Dats of Policy shall be binding upon the
parties. The award may include attorneys' fees only if the laws of the state
in which the land is located permit a court to award attorneys' fees to a
prevailing party. Judgment upon the award renderad by the Arbltrator(s) may
be entered in any court having jurisdiction thereof.
The law of the situs of the land shall apply to an arbitration under the
Title Insurance Arbitration Rules.
A copy of the Rules may be obtained from the Company upon request.
15. LIABILITY LIMITEO TO THIS POLICY; POLICY ENTIRE CONTRAC.,
(a) This policy together with all endorsements, if any. enached hereto b,
the Company is the entire policy and contract between Ihe insured and thl
Company. In interpreting any provision of this policy. this policy shell b.
construed as a whole.
(b) Any claim of loss or damage, whether or not basad on negligence
and which arises out of the status of the title to the estate or interest covere<
hereby or by any action asserting such claim, shall be restrictad to this policy
(c) No amendment of or endorsement to this policy can be made excep
by a writing endorsed hereon or attached hereto signed by either the Presi
dent. a Vice President. the Secretary. an Assistant Secretary, or validatin~
officer or authorized signatory of the Company.
16. SEVERABILITY
In the event anr, provision of the policy is held invalid or unenforceabh
under applicable aw, the policy shall be deemed not to include that provi
sian and all other provisions shall remain in full force and effect.
17. NOTICES, WHERE SENT
All notices required to be given the Company and any statement in writin{
required to be furnished the Company shall include the number of this policj
and shell be addressad to the Company at:
Chicago Title Insurance Company of Oregon
Claims Department
P.O. Box 218
Portland, Oregon 97207
.
.
OWNER SCHEDULE A
Premium:
$192.00
Agent File No.: 30-20780
Amount of Insurance:
$35,000.00
Date of Policy: November 6, 1997 at 2:39 p.m.
1. Name of Insured:
HAROLD KOROP and DEBBE KOROP, husband and wife,
as to an undivided 50.000% interest and
AARON K. STICKLER and DIANE STICKLER, husband and wife
as to an undivided 50.000% interest
2. The estate or interest in the land which is covered by this policy is:
Fee Simple
3. Title to the estate or interest in the land is vested in:
HAROLD KOROP and DEBBE KOROP, husband and wife,
as to an undivided 50.000% interest and
AARON K. STICKLER and DIANE STICKLER, husband and wife
as to an undivided 50.000% interest
4. The land referred to in this policy is described as follows:
A portion of Lots 1 and 2, Block 9 of THE E. E. KEPNER ADDITION TO
SPRINGFIELD, as platted and recorded in Book 4, Page 48, Lane County Oregon
Plat Records, in Lane County, Oregon being more particularly described as
follows:
Beginning at the Southeast corner of the herein described Lot I, said corner
being the intersection of the North right-of-way (being 29.20 feet from when
measured at right angles to the centerline) of Olympic Street and the West
right-of-way (being 30.00 feet from when measured at right angles to the
centerline) of 9th Street; thence running along said North right-of-way of
Olympic Street South 89" 58' 00" West 85.01 feet to a point being 15.00 feet
from when measured at right angles to the West line of said Lot 2; thence
leaving said right-of-way and running parallel to and 15.00 feet from said
West line of Lot 2 North 00" 12' 35" East 75.00 feet to a point; thence
leaving said parallel line and running South 76" 54' 55" East 22.03 feet to a
point being 70.00 feet from when measured at right angles to said North
right-of-way; thence running along a line parallel to said North right-of-way
North 89" 58' 00" East 63.52 feet to a point on said West right-of-way of 9th
Street; thence leaving last mentioned 70.00 foot parallel line and running
along said West right-of-way South 00" 12' 00" West 70.00 feet to the point of
beginniAg, being all in Springfield, Lane County, Oregon.
.
.
SCHEDULE B
Policy No. 38-3404-106-00001306
This policy does not insure against loss or damage (and the Company will not pay costs,
attorney's fees or expenses) which arise by reason of:
GENERAL EXCEPTIONS:
1. 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.
b. 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. a. Easements, liens, encumbrances, interests or claims thereof which are
not shown by the public records.
b. Any 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. Discrepancies, conflicts in boundary lines, shortage in area,
encroachments, or any other facts which a correct survey would disclose,
and which are not shown by the public records.
4. a. Unpatented mining claims;
b. Reservations or exceptions in patents or in Acts authorizing the
issuance thereof;
c. Water rights, claims or title to water;
whether or not the matters excepted under (a), (b), or (c) are shown by
the public records.
5. Any lien or right to a lien, for services, labor or material heretofore or
hereafter furnished, imposed by law and not shown by the public records.
SPECIAL EXCEPTIONS:
. .
6. Taxes for the fiscal year 1997-98, a lien in the amount to be determined,
but not yet payable.
Account No.: 223758 & 1523164
(Note: Not segregated-affects additional property)
7. The rights of the public in and to that portion of the premises herein
described lying within the limits of Olympic Street and 9th Street.
8. Improvement Agreement, including the terms and provisions thereof,
Dated: September 30, 1997
Recorded: October 2, 1997, Reel 2341, Reception No. 97-67039,
Official Records for Lane County, Oregon.
Between: Scott Landstra, Melanie Landstra, Larry Fhy, Vernette L. Fhy,
and the City of Springfield.
END OF EXCEPTIONS
.
.
OWNER'S INFLATION PROTECTION ENDORSEMENT
Dated:
Premium:
Attached to Policy No. :
November 6, 1997 at 2:39 p.m.
-0-
38 3404 106 00001306/30-20780
Issued by
CHICAGO TITLE INSURANCE COMPANY OF OREGON
The Company, recognizing the current effect of inflation on real property
valuation and intending to provide additional monetary protection to the
insured owner named in the policy, hereby modifies the policy, as follows:
1. notwithstanding anything contained in the policy to the contrary, the
amount of the insurance provided by the policy, as stated in Schedule
A thereof, is subject to cumulative annual upward adjustments in the
manner and to the extent hereinafter specified;
2. "adjustment date" is defined, for the purpose of-this endorsement, to
be 12:01 a.m. on the first January 1 which occurs more than six
months after after the date of the policy, as shown in Schedule A of
the policy to which this endorsement is attached and on each
succeeding January 1;
3. an upward adjustment will be made on each of the adjustment dates, as
defined above, by increasing the maximum of insurance provided by the
policy by 10% (ten percent) per year for five (5) years; provided,
however, that the maximum amount of insurance in force shall never
exceed 150% of the amount of insurance stated in Schedule A of the
policy, less the amount of any claim paid under the policy which,
under the terms of the conditions and stipulations, reduces the
amount of insurance in force.
4. in the settlement of any claim against the Company under the policy,
the amount of insurance in force shall be deemed to be the amount
which is in force as of the date on which the insured claimant first
learned of the assertion or possible assertion of such claim, or as
the date of receipt by the Company of the first notice of the claim,
whichever shall first occur.
This endorsement is made a part of the policy and is subject to all the terms
and provisions thereof and any prior endorsements thereto. Except to the
extent expressly stated, it neither modifies any of the terms and provisions
of the policy and any prior endorsement, nor does it extend the effective date
of the policy and any prior endorsements, nor does it increase the face amount
thereof.
CHICAGO TITLE INSURANCE COMPANY OF OREGON
6.1
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--AUTHORIZED SIGNATORY
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KEY TITLE COMPANY
THIS COpy OF ASSESSOR'S MAP IS
PROViDCD SClLl:LY T0 ASSIST IN LO.
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L1AllILlTY IS ASSUMED BY KEY FOR
OISCI<Ef'ANCIES IN THIS MAP AS OUT.
L1Nl,O AND THE ACCOMPANYING
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