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OLD REPUBLIC TITLE INSURANCE COMPANY
OWNERS POLICY
Policy No.: OX273754
Name and Address of Title Insurance Company:
Old Republic National Title Insurance Company
400 Second Avenue South
Minneapolis, MN 55401
File No.: 303702
Address Reference: NKA E. Lake Hazel Rd., Meridian, ID. 83642
Date of Policy: May 15, 2009 at 4:20:00 PM
Amount of Insurance: $1,200,000.00
1. Name of Insured:
City of Meridian
2. The estate or interest in the Land that is insured by this policy is:
Fee Simple
3. Title is vested in:
City of Meridian, an Idaho Municipal Corporation
5. The land referred to in the Policy is described as follows:
Premium Amount: $3,180.00
Total Amount: $3,180.00
See Attached Exhibit A
Schedule A page 1 of 2 age(s)
ORT Form 4309 A
Schedule A for ALTA Owners Policy of Title Insurance 6-17-07
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Exhibit A
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A portion of the East half of the Northwest quarter of Section 5, Township 2 North, Range 1 East, Boise
Meridian, Ada County, Idaho more particularly described as follows:
Commencing at the North quarter comer of said Section 5 from which the West 1/16 comer of said Section 5
bears North 89°58'22" West, 1331.92 feet;
Thence along the North-South centerline of said Section 5, South 00°O1' 18" West, 500.00 feet to the REAL
POINT OF BEGINNING;
Thence continuing along said North-South centerline South 00'01'18" West, 2174.91 feet to the CIA comer of
said Section 5;
Thence along the East-West centerline of said Section 5 North 89°52'48" West, 1329.59 feet to the C-Wl/16
corner of said Section 5;
Thence along the West boundary line of the East half of the Northwest quarter of said Section 5 North
00°01'41" West, 2672.76 feet to the West 1/16 comer of said Section 5;
Thence along the North boundary line of said Section 5 South 89°58'22" East, 983.43 feet;
Thence leaving said North boundary line South 00'02'18" West, 500.00 feet;
Thence South 89°58'22" East, 348.63 feet to the REAL POINT OF BEGINNING.
Schedule A age 2 of 2 page(s)
ORT Form 4.309 A
Schedule A for ALTA Owners Policy of Title Insurance 6-17-07
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OLD REPUBLIC TITLE INSURANCE COMPANY
OWNER'S POLICY
Schedule B
File No.: 303702 Policy No.: 273754
EXCEPTIONS FROM COVERAGE
This policy does not insure against loss or damage, and the Company will not pay costs, attorneys' fees or
expenses that arise by reason of.
General Exceptions:
1. Rights or claims of parties in possession not shown by the public records
2. Encroachments, overlaps, boundary line disputes, and any other matters which would be disclosed by an accurate survey
or inspection of the premises including, but not limited to, insufficient or impaired access or matters contradictory to any
survey plat shown by the public records.
3. Easements, or claims or easements, not shown by the public records.
4. 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.
5. (a) Unpatented mining claims; (b) reservations or exceptions in patents or Acts authorizing the issuance thereof; (c)
water rights, claims to title to water, whether or not the matters excepted under (a), (b), (c) are shown by the public records.
6. Taxes or special 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 to such proceedings, whether or not shown by the records of such agency or by the public records.
Special Exceptions:
1. General taxes for the year 2009, which are liens, are not yet due and payable.
2. Liens, fees and charges for trash services as provided by Ada County Ordinance No. 467 amending Title 5,
Chapter 2, Section 4 of Ada County Code (208-287-6800).
Schedule A Eage I of 3 gage(s)
ORT Form 4309 B
Schedule B for ALTA Owners Policy of Title Insurance 6-17-07
3. Liens and assessments of the following district and the rights and powers thereof as provided by law.
District: Boise Kuna Irrigation District (922-5608)
4. Rights of way as disclosed by available maps.
Location: Lake Hazel Road
5. Rights of way as disclosed by available maps.
For: Easterly boundary
Location: Farr Lateral
6. An easement containing certain terms, conditions and provisions affecting a portion of said premises and
for the purposes stated herein
For: Pipeline right of way contract
In Favor of: Pacific Northwest Pipeline Corporation, a Delaware corporation
Recorded: October 11, 1955
Instrument No.: 384359
Filed In: Book 29 of Miscellaneous Records at Page 546
Affects: East half of Northwest quarter
An easement containing certain terms, conditions and provisions affecting a portion of said premises and
for the purposes stated herein
For: Purpose of permanent access
In Favor of: Ada County Highway District
Recorded: August 10, 1992
Instrument No.: 9253120
Matters disclosed by Record of Survey
Recorded: February 6, 2007
Instrument No.: 107017389
Survey No.: 7782
9. Terms and provisions set forth in Well Sharing and Easement Agreement
Between: L & G Murgoitio, LLC, an Idaho limited liability company and The City of Meridian, an Idaho
Municipal Corporation
Dated: May 15, 2009
Recorded: May 15, 2009
Instrument No.: 109056419
Schedule A a e 2 of 3 a e(s)
ORT Form 4309 B
Schedule B for ALTA Owners Policy of Title Insurance 6-17-07
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10. An easement containing certain terms, conditions and provisions affecting a portion of said premises and
for the purposes stated herein
For: Access
In Favor of: L & G Murgoitio, LLC, an Idaho limited liability company
Recorded: May 15, 2009
Instrument No.: 109056420
END OF EXCEPTIONS
NOTE:
THERE IS NO NOTICE OF RECORD AND THEREFORE NO SEARCH HAS BEEN MADE FOR ANY
UNPAID ASSESSMENTS, CHARGES OR FEES FOR SEWER, WATER, GARBAGE, IRRIGATION
AND OTHER POSSIBLE UTILITY SERVICES.
Schedule A a e 3 of 3 a e(s)
ORT Form 4309 B
Schedule B for ALTA Owners Policy of Title Insurance 6-17-07
CONDITIONS AND STIPULATIONS
1. DEFINITION OF TERMS
The following terms when used in this policy mean:
(a) "Amount of Insurance": The amount stated in Schedule A, as may
be increased or decreased by endorsement to this policy, increased
by Section 8(b), or decreased by Sections 11 and 12 of these Conditions.
(b) "Date of Policy": The date designated as "Date of Policy" in
Schedule A.
(c) "Entity": A corporation, partnership, trust, limited liability
company, or other similar legal entity.
(d) "Insured": The Insured named in Schedule A.
(i) The term "Insured" also includes
IN successors to the Title of the Insured by operation of law as
distinguished from purchase, including heirs, devisees, survivors,
personal representatives, or next of kin;
IN successors to an Insured by dissolution, merger, consolidation,
distribution, or reorganization;
(C) successors to an Insured by its conversion to another kind of
Entity;
(D) a grantee of an Insured under a deed delivered without
payment of actual valuable consideration conveying the Title
(1) if the stock, shares, memberships, or other equity
interests of the grantee are wholly-owned by the
named Insured,
(2) if the grantee wholly owns the named Insured,
(3) if the grantee is wholly-owned by an affiliated
Entity of the named Insured, provided the affiliated
Entity and the named Insured are both wholly-owned
by the same person or Entity, or
(4) if the grantee is a trustee or beneficiary of a trust
created by a written instrument established by the
Insured named in Schedule A for estate planning
purposes.
(ii) With regard to (A), (B), (C), and (D) reserving, however, all rights
and defenses as to any successor that the Company would have had
against any predecessor Insured.
(e) "Insured Claimant": An Insured claiming loss or damage.
(f) "Knowledge" or "Known": Actual knowledge, not constructive
knowledge or notice that may be imputed to an Insured by reason of
the Public Records or any other records that impart constructive
notice of matters affecting the Title.
(g) "Land": The land described in Schedule A, and affixed improvements
that by law constitute real property. The term "Land" does not
include any property beyond the lines of the area described in
Schedule A, nor any right, title, interest, estate, or easement in
abutting streets, roads, avenues, alleys, lanes, ways, or waterways,
but this does not modify or limit the extent that a right of access to
and from the Land is insured by this policy.
(h) "Mortgage": Mortgage, deed of trust, trust deed, or other security
instrument, including one evidenced by electronic means authorized
by law.
(i) "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 Covered Risk 5(d), 'Public Records"
shall also include environmental protection liens filed in the records
of the clerk of the United States District Court for the district where
the Land is located.
(j) "Title": The estate or interest described in Schedule A.
(k) "Unmarketable Title": Title affected by an alleged or apparent
matter that would permit a prospective purchaser or lessee of the
Title or lender on the Title to be released from the obligation to
purchase, lease, or lend if there is a contractual condition requiring
the delivery of marketable title.
CONTINUATION OF INSURANCE
The coverage of this policy shall continue in force as of Date of
Policy in favor of an Insured, but only so long as the Insured retains
an estate or interest in the Land, or holds an obligation 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
warranties in any transfer or conveyance of the Title. 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
obligation 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 5(a) of these Conditions, (ii)
in case Knowledge shall come to an Insured hereunder of any claim
of title or interest that is adverse to the Title, as insured, and that
might cause loss or damage for which the Company may be liable
by virtue of this policy, or (iii) if the Title, as insured, is rejected as
Unmarketable Title. If the Company is prejudiced by the failure of
the Insured Claimant to provide prompt notice, the Company's
liability to the Insured Claimant under the policy shall be reduced
to the extent of the prejudice.
PROOF OF LOSS
In the event the Company is unable to determine the amount of
loss or damage, the Company may, at its option, require as a condition
of payment that the Insured Claimant furnish a signed proof of loss.
The proof of loss must describe the defect, lien, encumbrance, or
other matter insured against by this policy that constitutes the
basis of loss or damage and shall state, to the extent possible, the
basis of calculating the amount of the loss or damage.
5. DEFENSE AND PROSECUTION OF ACTIONS
(a) Upon written request by the Insured, and subject to the options
contained in Section 7 of these Conditions, the Company, at its
own cost and without unreasonable delay, shall provide for the
defense of an Insured in litigation in which any third party asserts
a claim covered by this policy adverse to the Insured. This obligation
is limited to only those stated causes of action alleging matters
insured against by this policy. The Company shall have the right to
select counsel of its choice (subject to the right of the Insured to
object for reasonable cause) to represent the Insured as to those
stated causes of action. It shall not be liable for and will not pay
the fees of any other counsel. The Company will not pay any fees,
costs, or expenses incurred by the Insured in the defense of those
causes of action that allege matters not insured against by this policy.
(b) The Company shall have the right, in addition to the options
contained in Section 7 of these Conditions, at its own cost, to
institute and prosecute any action or proceeding or to do any
other act that in its opinion may be necessary or desirable to
establish the Title, as insured, or to prevent or reduce loss or
damage to the Insured. The Company may take any appropriate
action under the terms of this policy, whether or not it shall be
liable to the Insured. The exercise of these rights shall not be an
admission of liability or waiver of any provision of this policy.
If the Company exercises its rights under this subsection, it must
do so diligently.
(c) Whenever the Company brings an action or asserts a defense
as required or permitted by this policy, the Company may pursue
the litigation to a final determination by a court of competent
jurisdiction, and it expressly reserves the right, in its sole
discretion, to appeal any adverse judgment or order.
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