Loading...
Warranty Deed0 August 19, 2013 Title One a title & escrow co. DELIVER TO: H.O.T. 1 LLLP c/o Scentsy, Inc. 3330 E Louise Drive Meridian, ID 83642 Thank you for choosing TitleOne Corporation for your title insurance needs. Enclosed you will find the following: Original Recorded Special Warranty Deed Owner's Policy of Title Insurance Order No.13226201 Should you have any questions regarding this title policy, your Title Officer is Scott Thiel, (208) 287-5314. 1101 W. River St., Suite 201 Boise, Idaho 83702 p: 208.424.8511 F. 208.424.0049 ADA CO0NTY RECORDER Christopher D. Rich AMOUNT 25.00 6 BOISE IDAHO 08/16/2013 01:56 PM DEPUTY Bonnie Oberbillig Simpltiile Electronic Recording I IIIIII IIIII IIIII IIIII� IIII[) (III 11111111111 HE 111111111111 IN After recording, return to: RECORDED -REQUEST OF ( l ll I[ TITLEONE BOISE 113094237 H.O.T. I LLLP 3330 E Louise Drive Meridian, ID 83642 Attn: Phillip E. Broadbent 1i S T SPECIAL WARRANTY DEED FOR VALUABLE CONSIDERATION, McCall Meridian LLC, an Idaho limited liability company, Grantor, does hereby grant, bargain, sell and convey unto H.O.T. 1 LLLP, an Iilaho limited liability limited partnership, whose current address is 3330 E Louise Drive, Meridian, Idaho 83642, Grantee, all of the real property located in Ada County, Idaho described on Exhibit A attached hereto; TOGETHER WITH any and all easements, rights of way and access rights, all water rights, and all other rights of every nature appurtenant to such real property (collectively, the "Property"). TO HAVE AND TO HOLD the Property unto Grantee, and the successors, heirs and assigns of Grantee forever. And Grantor does hereby covenant to and with Grantee, that it is the owner in fee simple of the Property, that it is free from all liens and encumbrances created or suffered by Grantor except those listed on Exhibit B attached hereto, and that it will WARRANT and DEFEND unto Grantee, its successors and assigns, the title to the Property against all persons who may lawfully claim the same by, through or under Grantor, except as to those exceptions set forth on Exhibit B. [signature on following page] After recording, return to: H.O.T. I LLLP 3330 E Louise Drive Meridian, ID 83642 Attn: Phillip E. Broadbent 13p.�k,ao I ST SPECIAL WARRANTY DEED ELECTRONICALLY RECORDED STAMPED FIRST PAGE NOW INCORPORATED AS PART OF THE ORIGINAL DOCUMENT. FOR VALUABLE CONSIDERATION, McCall Meridian LLC, an Idaho limited liability company, Grantor, does hereby grant, bargain, sell and convey unto H.O.T. 1 LLLP, an Idaho limited liability limited partnership, whose current address is 3330 E Louise Drive, Meridian, Idaho 83642, Grantee, all of the real property located in Ada County, Idaho described on Exhibit A attached hereto, TOGETHER WITH any and all easements, rights of way and access rights, all water rights, and all other rights of every nature appurtenant to such real property (collectively, the "Property"). TO HAVE AND TO HOLD the Property unto Grantee, and the successors, heirs and assigns of Grantee forever. And Grantor does hereby covenant to and with Grantee, that it is the owner in tee simple of the Property, that it is free from all liens and encumbrances created or suffered by Grantor except those listed on Exhibit B attached hereto, and that it will WARRANT and DEFEND unto Grantee, its successors and assigns, the title to the Property against all persons who may lawfully claim the same by, through or under Grantor, except as to those exceptions set forth on Exhibit B. [signature on following page] Dated: Auguste 2013 State of Arizona County of Maricopa GRANTOR: McCALL MERIDIAN LLC, an Idaho limited liability company By: National Safe Harbor Exchanges, a California corporation, Sole Member By: Dana R. Sobrado, Vice President The foregoing instrument was acknowledged before me this August A, 2013 by Dana R. Sobrado, Vice President of National Safe Harbor Exchanges, Sole Member of McCall Meridian LLC, an Idaho limited liability company, on behalf of the corporation. SOTARY PUBLIC Print Name: -AnrieAe, Re.Pr� My Commission Expires: Annette Reed NOTARY PUBLIC - ARIZONA MARICOPA COUNTY My Commission Expires 4 September 29, 2013 Exhibit A Parcel I: A parcel of land lying in the Northwest quarter of the Southeast quarter of Section 8, Township 3 North, Range 1 East, Boise Meridian, Ada County, Idaho and more particularly described as follows: Beginning at the brass cap marking the Southwest comer of the said Southeast quarter of Section 8; thence North 0025'32" East,1362.73 feet along the Westerly boundary of the said Southeast quarter of Section 8 to an iron pin on the Northerly right-of-way line of the Union Pacific Railroad, also said point being the Real Point of Beginning; thence continuing North 0025'32" East, 450.00 feet along the said Westerly boundary of the Southeast quarter of Section 8 to an iron pin; thence South 88°34'19" East, 968.00 feet along a line Northerly of and parallel to the said Northerly right-of-way line of the Union Pacific Railroad to an iron pin; thence South 0°25'32" West, 450.00 feet along a line Easterly of and parallel to the said Westerly boundary of the Southeast quarter of Section 8 to an iron pin on the said Northerly right-of-way line of the Union Pacific Railroad; thence North 88"34'19" West, 968.00 feet along the said Northerly right-of-way line of the Union Pacific Railroad to the Point of Beginning. Excepting therefrom: A parcel of land situate in the Southeast quarter of Section 8, Township 3 North, Range 1 East of the Boise Meridian, Ada County, Idaho, said parcel being bounded and described as follows: Beginning at a point on the West line of said Southeast quarter of Section 8, from which point the South quarter comer of said Section bears South 00025'32" West,1362.73 feet, said point also being on the Northerly right-of-way line of the Oregon Short Line Railroad Company; thence along said West line North 0002532" East, 450.00 feet; thence South 88*34'19" East, 252.00 feet; thence South 00°25'32" West, 450.00 feet to a point on the Northerly right-of-way line of said Railroad Company; thence along said right-of- way line North 88034'19" West, 252.00 feet to the Point of Beginning. Parcel II: A parcel of land situate in the Southeast quarter of Section 8, Township 3 North, Range 1 East of the Boise Meridian, Ada County, Idaho, said parcel being bounded and described as follows: Beginning at a point on the Northerly right-of-way line of the Oregon Short Line Railroad Company Main Line Tract, from which point the South quarter comer of said Section 8 bears North 88*34'19" West, 968.00 feet and South 00°25'32" West,1362.73 feet, said point also being the Southeast corner of that certain parcel of land conveyed by Elixir Industries to Great Western Chemical Company of Portland, on September 13,1976, recorded as Instrument No. 7640089 in the official records of Ada County, Idaho; thence North 00°25'32" East, 450.00 feet to the Northeast comer of said Elixir to Great Western Chemical conveyance; thence South 88034'19" East, 252.00 feet; thence South 00°25'32" West, 450.00 feet to a point on the Northerly right-of-way line of said Railroad Company; thence along said right-of- way line North 88034'19" West, 252.00 feet to the Point of Beginning. Parcel III: A non-exclusive easement for ingress and egress as created by the Declaration of Covenants and Restrictions and Easement Agreement recorded October 12, 1976 as Instrument No. 7640090, records of Ada County, Idaho, over the following property: A 50 foot strip of land lying in the Southeast quarter of Section 8, Township 3 North, Range 1 East, Boise Meridian, Ada County, Idaho and more particularly described as follows: 1 , Beginning at the brass cap marking the Southeast comer of the said Southeast quarter of Section 8; thence North 1 °23'23" East,1748.75 feet along the Easterly boundary of the said Southeast quarter of Section 8, which is also the centerline of Eagle Road, to a point, also said point being the Real Point of Beginning; thence continuing North 1 °23'23" East, 50.00 feet along the said Easterly boundary of the Southeast quarter of Section 8 to a point; thence North 88*34'19" West, 2601.44 feet along a line Northerly of and parallel to the Northerly right-of-way line of the Union Pacific Railroad to an iron pin on the Westerly boundary of the said Southeast quarter of Section 8; thence South 0025'32" West, 50.01 feet along the said Westerly boundary of the Southeast quarter of Section 8 to an iron pin; thence South 88034'19" East, 2600.60 feet along a line Northerly of and parallel to the said Northerly right-of-way line of the Union Pacific Railroad to the Point of Beginning. EXHIBIT B Taxes, including any assessments collected therewith, for the year 2013 which are a lien not yet due and payable. ?. The Property is located within the boundaries of the City of Meridian and is subject to any assessments levied thereby. 3. The Property is located within the boundaries of Nampa -Meridian Irrigation District and is subject to any assessments levied thereby. 4. The Property is located within the boundaries of Settlers Irrigation District and is subject to any assessments levied thereby. 5. Reservations and exceptions in a United States Patent, and in the act authorizing the issuance thereof, recorded September 12, 1903 in Book 3 of Patents, at Page 274, records of Ada County, Idaho. 0. Covenants, Conditions, and Restrictions, and, Easements but omitting covenants or restrictions, if any, based upon race, color, religion, sex, sexual orientation, familial status, marital status, disability, handicap, national origin, ancestry, or source of income, as set forth in applicable state or federal laws, except to the extent that said covenant or restriction is permitted by applicable law. Recorded: October 12, 1976 Instrument No.: 7640090 7. The tollowing matters, and any rights, easements, interests or claims as disclosed by Record of Survey No. B 145 recorded June 27, 1974 as Instrument No. 7935063, records of Ada County, Idaho: Right-of-way for Snyder Lateral and the rights of access thereto for maintenance of said lateral. X. An easement for the purpose described below, and rights incidental thereto as set forth in a Sanitary Sewer Easement Permanent and Temporary granted to the City of Meridian, Ada County, Idaho recorded November 5, 1998 as Instrument No. 98106543, records of Ada County, Idaho: Right-of-way for an easement for the operation and maintenance of a sewer line. ��. Record of Survey No. 4503 recorded January 6, 1999 as Instrument No. 99001613, records of Ada County, Idaho. 1(). Record of Survey No. 4522 recorded January 26, 1999 as Instrument No. 99007545, records of Ada County, Idaho. 11. Terms and provisions contained in a License Agreement by and between Nampa & Meridian Irrigation District and McCall Properties LLC, a Washington limited liability company dated March 6, 2012, recorded March 8, 2012 as Instrument No. 112021242, records of Ada County, Idaho. 12. An easement for the purpose shown below and rights incidental thereto as set forth in an Easement granted to Nampa & Meridian Irrigation District, recorded March 8, 2012 as Instrument No. 1120221243, records of Ada County, Idaho: to deliver, convey and drain irrigation and drainage water, to operate, clean, maintain and repair the Snyder Lateral and to access the Snyder Lateral with such personnel and equipment. ()111991 00017 4831614vI a`Fidelity National Title Insurance Company POLICY NO.: iD2004-10-13226201-2013.27306-89564476 OWNER'S POLICY OF TITLE INSURANCE Issued by Fidelity National Title Insurance Company Any notice ofclahn andany other notice or statement in writing required to be given the Company under this Policy must be given to ate Company at the ad- dress shown in Section 18 ofthe Conditions. COVERED RISKS SUBJECT TO THE EXCLUSIONS FROM COVERAGE, THE EXCEPTIONS FROM COVERAGE CONTAINED IN SCHEDULE B, AND THE CONDITIONS, FIDELITY NATIONAL TITLE INSURANCE COMPANY, a California corporation (the "Company') insures, as of Date of Policy and, to the extent stated in Covered Risks 9 and 10, after Date of Policy, against loss or damage, not exceeding the Amount oflnsurance, sustained or incurred by the Insured by reason of L Title being vested other than as stated in Schedule A. 2. Any defect in or lien or encumbrance on the Title. This Covered Risk includes but is not limited to insurance against loss from (a) A defect in the Title caused by (i) forgery, fraud, undue influence, duress, incompetency, incapacity, or impersonation; (ti) failure ofany person or Entity to have authorized a transfer or conveyance; (itt) a document affecting Title not properly created, executed, witnessed, sealed, acknowledged, notarized, or delivered; (iv) failure to perform those acts necessary to create a document by electronic means authorized by law; (v) a document executed under a falsified, expired, or otherwise invalid power ofattorney; (vt) a document not properly filed, recorded, or indexed in the Public Records including failure to perform those acts by electronic means authorized bylaw; or (vit) a defective judicial or administrative proceeding. (b) The lien ofreal estate taxes or assessments imposed on the Title by a governmental authority due or payable, but unpaid. (e) Any encroachment, encumbrance, violation, variation, or adverse circumstance affecting the Title that would be disclosed by an accurate and complete land survey ofthe Land. The term "encroachment" includes encroachments ofexistingimprovements located on the Land onto adjoining land, and encroachments onto the Land ofexisting improvements located on adjoining land. 3. Unmarketable Title. 4. No right of access to andfrom •om the Land. 5. The violation or enforcement ofany law, ordinance, permit, or governmental regulation (including those relating to building and zoning) restricting, regulating, prohibiting, or relating to (a) the occupancy, use, or enjoyment ofthe Land; (b) the character, dimensions, or location ofany improvement erected on the Land; (c) the subdivision of land; or (d) environmental protection ifa notice, describing anypart ofthe Land, is recorded in the Public Records setlingforth the violation or intention to enforce, but only to the extent of the violation or enforcement referred to in that notice. 6. An enforcement action based on the exercise of a governmental police power not covered by Covered Risk 5 if a notice of the enforcement action, describing any part of the Land, is recorded in the Public Records, but only to the extent of the enforcement referred to in that notice. 7. The exercise ofthe rights ofeminent domain ifa notice of the exercise, describing any part of the Land, is recorded in the Public Records. 8. Any taking by a governmental body that has occurred and is binding on the rights of a purchaser for value without Knowledge. 9. Titlebeing vested other than as stated Schedule A or being defective (a) as a result ofthe avoidance in whole or in part, orfrom a court order providing an alternative remedy, ofa transfer ofall or mrypart ofthe title to or any interest in the Land occurring prior to the transaction vesting Title as shown in Schedule A because that prior transfer constituted a fraudulent or preferential transfer under federal bankruptcy, state insolvency, or similar creditors'rights laws; or (b) because the instrument of transfer vesting Title as shown in Schedule A constitutes a preferential transfer under federal bankruptcy, state insolvency, or similar creditors' rights laws by reason of the failure of its recording in the Public Records (i) to be timely, or (it) to impart notice of its existence to a purchaser for value or to a judgment or lien creditor. 27306 (6/06) ALTA Owner's Policy (6117/06) 10. Ai' defect in or lien or encumbrance on the Title or other matter included in Covered Risks 1 through 9 that has been created or attached or has been filed or recorded in the Public Records subsequent to Date of Policy and prior to the recording of the deed or other instrument oftransfer in the Public Records that vests Title as shown in Schedule A. The Company will also pay the costs, attorneys ' fees, and expenses incurred in defense of any matter insured against by this Policy, but only to the extent provided in the Conditions. IN WITNESS WHEREOF, FIDELITY NATIONAL TITLE INSURANCE COMPANY has caused this policy to be signed and sealed by its duly authorized officers. Countersigned: ID2004 I Scott Thiel Authorized Signatory 13226201 TitleOne Corporation 1101 W. River Street, Suite 201 Boise, ID 83702 Fidelity National' TWO- Insurance Company 3BAL � ATrrsr kcnuq 27306(6/06) (6/17/06) ALTA Owner's Policy EXCLUSIONS FROM COVERAGE The following matters are expressly 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) restricting, regulating, prohibiting, or relating 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 protection; or the effect of any violation of these laws, ordinances, or governmental regulations. This Exclusion l (a) does not modify or limit the coverage provided under Covered Risk 5. (b) Any governmental police power. This Exclusion 1(b) does not modify or limit the coverage provided under Covered Risk 6. 2. Rights of eminent domain. This Exclusion does not modify or limit the coverage provided under Covered Risk 7 or 8. 3. Defects, liens, encumbrances, 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 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 Date of Policy (however, this does not modify or limit the coverage provided under Covered Risk 9 and 10); or (e) resulting in loss or damage that would not have been sustained if the Insured Claimant had paid value for the Title. 4. Any claim, by reason of the operation of federal bankruptcy, state insolvency, or similar creditors' rights laws, that the transaction vesting the Title as shown in Schedule A, is (a) a fraudulent conveyance or fraudulent transfer; or (b) a preferential transfer for any reason not stated in Covered Risk 9 of this policy. 5. Any lien on the Title for real estate taxes or assessments imposed by governmental authority and created or attaching between Date of Policy and the date of recording of the deed or other instrument of transfer in the Public Records that vests Title as shown in Schedule A. CONDITIONS 1. DEFINITION OF TERMS (h) "Mortgage": Mortgage, deed of trust, trust deed, or other security in - The following terms when used in this policy mean: strument, including one evidenced by electronic means authorized by law. (a) "Amount of Insurance": The amount stated in Schedule A, as may be (i) "Public Records": Records established under state statutes at Date of increased or decreased by endorsement to this policy, increased by Section Policy for the purpose of imparting constructive notice of matters relating to 8(b), or decreased by Sections 10 and I I of these Conditions. real property to purchasers for value and without Knowledge. With respect to (b) "Date of Policy": The date designated as `Date of Policy" in Schedule Covered Risk 5(d), "Public Records" shall also include environmental protec- A. tion liens filed in the records of the clerk of the United States District Court for (c) "Entity": A corporation, partnership, trust, limited liability company, or the district where the Land is located. other similar legal entity. 0) "Title": The estate or interest described in Schedule A. (d) "Insured": The Insured named in Schedule A. (k) "Unmarketable Title": Title affected by an alleged or apparent matter (i) The term "Insured" also includes that would permit a prospective purchaser or lessee of the Title or lender on the (A)successors to the Title of the Insured by operation of law as dis- Title to be released from the obligation to purchase, lease, or lend if there is a tinguished from purchase, including heirs, devisees, survivors, personal repre- contractual condition requiring the delivery of marketable title. sentatives, or next of kin; 2. CONTINUATION OF INSURANCE (B) successors to an Insured by dissolution, merger, consolidation, The coverage of this policy shall continue in force as of Date of Policy in distribution, or reorganization; favor of an Insured, but only so long as the Insured retains an estate or interest (C) successors to an Insured by its conversion to another kind of En- in the Land, or holds an obligation secured by a purchase money Mortgage giv- tity; en by a purchaser from the Insured, or only so long as the Insured shall have li- (D) a grantee of an Insured under a deed delivered without payment ability by reason of warranties in any transfer or conveyance of the Title. This of actual valuable consideration conveying the Title policy shall not continue in force in favor of any purchaser from the Insured of (1) if the stock, shares, memberships, or other equity interests of either (i) an estate or interest in the Land, or (ii) an obligation secured by a pur- the grantee are wholly -owned by the named Insured, chase money Mortgage given to the Insured. (2) if the grantee wholly owns the named Insured, 3. NOTICE OF CLAIM TO BE GIVEN BY INSURED CLAIMANT (3) if the grantee is wholly -owned by an affiliated Entity of the The Insured shall notify the Company promptly in writing (i) in case of any named Insured, provided the affiliated Entity and the named Insured are both litigation as set forth in Section 5(a) of these Conditions, (ii) in case wholly -owned by the same person or Entity, or Knowledge shall come to an Insured hereunder of any claim of title or interest (4) if the grantee is a trustee or beneficiary of a trust created by that is adverse to the Title, as insured, and that might cause loss or damage for a written instrument established by the Insured named in Schedule A for estate which the Company may be liable by virtue of this policy, or (iii) if the Title, as planning purposes. insured, is rejected as Unmarketable Title. If the Company is prejudiced by the (ii) With regard to (A), (B), (C), and (D) reserving, however, all rights failure of the Insured Claimant to provide prompt notice, the Company's liabil- and defenses as to any successor that the Company would have had against any ity to the Insured Claimant under the policy shall be reduced to the extent of predecessor Insured. the prejudice. (e) "Insured Claimant": An Insured claiming loss or damage. 4. PROOF OF LOSS (f) "Knowledge" or "Known": Actual knowledge, not constructive In the event the Company is unable to determine the amount of loss or knowledge or notice that may be imputed to an Insured by reason of the Public damage, the Company may, at its option, require as a condition of payment that Records or any other records that impart constructive notice of matters affect- the Insured Claimant furnish a signed proof of loss. The proof of loss must Be- ing the Title. scribe the defect, lien, encumbrance, or other matter insured against by this pol- (g) "Land": The land described in Schedule A, and affixed improvements icy that constitutes the basis of loss or damage and shall state, to the extent that by law constitute real property. The term "Land" does not include any possible, the basis of calculating the amount of the loss or damage. property beyond the lines of the area described in Schedule A, nor any right, ti- 5. DEFENSE AND PROSECUTION OF ACTIONS tle, interest, estate, or easement in abutting streets, roads, avenues, alleys, lanes, (a) Upon written request by the Insured, and subject to the options con - ways, or waterways, but this does not modify or limit the extent that a right of tained in Section 7 of these Conditions, the Company, at its own cost and with - access to and from the Land is insured by this policy. out unreasonable delay, shall provide for the defense of an Insured in litigation 27306 (6106) ALTA Owner's Policy (6/17/06) in which anj 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 se- lect counsel of its choice (subject to the right of the Insured to object for rea- sonable 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 Com- pany will not pay any fees, costs, or expenses incurred by the Insured in the de- fense 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 ex- ercise of these rights shall not be an admission of liability or waiver of any pro- vision 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 re- quired or permitted by this policy, the Company may pursue the litigation to a final determination by a court of competent jurisdiction, and it expressly re- serves the right, in its sole discretion, to appeal from any adverse judgment or order. 6. DUTY OF INSURED CLAIMANT TO COOPERATE (a) In all cases where this policy permits or requires the Company to prose- cute or provide for the defense of any action or proceeding and any appeals, the Insured shall secure to the Company the right to so prosecute or provide de- fense in the action or proceeding, including the right to use, at its option, the name of the Insured for this purpose. Whenever requested by the Company, the Insured, at the Company's expense, shall give the Company all reasonable aid (i) in securing evidence, obtaining witnesses, prosecuting or defending the ac- tion or proceeding, or effecting settlement, and (ii) in any other lawful act that in the opinion of the Company may be necessary or desirable to establish the Title or any other matter as insured. If the Company is prejudiced by the failure of the Insured to furnish the required cooperation, the Company's obligations to the Insured under the policy shall terminate, including any liability or obliga- tion to defend, prosecute, or continue any litigation, with regard to the matter or matters requiring such cooperation. (b) The Company may reasonably require the Insured Claimant to submit to examination under oath by any authorized representative of the Company and to produce for examination, inspection, and copying, at such reasonable times and places as may be designated by the authorized representative of the Com- pany, all records, in whatever medium maintained, including books, ledgers, checks, memoranda, correspondence, reports, e-mails, disks, tapes, and videos whether bearing a date before or after Date of Policy, that reasonably pertain to the loss or damage. Further, if requested by any authorized 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 of these records in the custody or control of a third party that reasonably pertain to the loss or damage. All information designated as confidential by the Insured Claimant provided to the Company pursuant to this Section shall not be dis- closed to others unless, in the reasonable judgment of the Company, it is neces- sary in the administration of the claim. Failure of the Insured Claimant to submit for examination under oath, produce any reasonably requested infor- mation, or grant permission to secure reasonably necessary information from third parties as required in this subsection, unless prohibited by law or govern- mental regulation, shall terminate any liability of the Company under this poli- cy as to that claim. 7. 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 Pay or Tender Payment of the Amount of Insurance. To pay or tender payment of the Amount of Insurance under this policy to- gether with any costs, attorneys' fees, and expenses incurred by the Insured Claimant that were authorized by the Company up to the time of payment or tender of payment and that the Company is obligated to pay. Upon the exercise by the Company of this option, all liability and obliga- tions of the Company to the Insured under this policy, other than to make the payvnent required in this subsection, shall terminate, including any liability or obligation to defend, prosecute, or continue any litigation. (b) To Pay or Otherwise Settle With Parties Other Than the Insured or With the Insured Claimant. (i) To pay or otherwise settle with other parties for or in the name of an Insured Claimant any claim insured against under this policy. In addition, the Company will pay any costs, attorneys' fees, and expenses incurred by the In- sured Claimant that were authorized by the Company up to the time of payment and that the Company is obligated to pay; or (ii) To pay or 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 that were authorized by the Company up to the time of payment and that the Company is obligated to pay. Upon the exercise by the Company of either of the options provided for in subsections (b)(i) or (ii), the Company's obligations to the Insured under this policy for the claimed 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. 8. DETERMINATION AND EXTENT OF LIABILITY This policy is a contract of indemnity against actual monetary loss or dam- age sustained or incurred by the Insured Claimant who has suffered loss or damage by reason of matters insured against by this policy. (a) The extent of liability of the Company for loss or damage under this policy shall not exceed the lesser of (i) the Amount of Insurance; or (ii) the difference between the value of the Title as insured and the val- ue of the Title subject to the risk insured against by this policy. (b) If the Company pursues its rights under Section 5 of these Conditions and is unsuccessful in establishing the Title, as insured, (i) the Amount of Insurance shall be increased by 10%, and (ii) the Insured Claimant shall have the right to have the loss or damage determined either as of the date the claim was made by the Insured Claimant or as of the date it is settled and paid. (c) In addition to the extent of liability under (a) and (b), the Company will also pay those costs, attorneys' fees, and expenses incurred in accordance with Sections 5 and 7 of these Conditions. 9. LIMITATION OF LIABILITY (a) If the Company establishes the Title, or removes the alleged defect, lien or encumbrance, or cures the lack of a right of access to or from the Land, or cures the claim of Unmarketable Title, all as insured, in a reasonably diligent manner by any method, including litigation and the completion of any appeals, it shall have fully performed its obligations with respect to that matter and shall not be liable for any loss or damage caused to the Insured. (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 competent ju- risdiction, and disposition of all appeals, adverse to the Title, as insured. (c) The Company shall not be liable for loss or damage to the 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 Insurance by the amount of the payment. 11. LIABILITY NONCUMULATIVE The Amount of Insurance shall be reduced by any amount the Company pays under any 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 executed by an Insured after Date of Policy and which is a charge or lien on the Title, and the amount so paid shall be deemed a payment to the In- sured under this policy. 12. PAYMENT OF LOSS When liability and the extent of loss or damage have been definitely fixed in accordance with these Conditions, the payment shall be made within 30 days. 13. RIGHTS OF RECOVERY UPON PAYMENT OR SETTLEMENT (a) Whenever the Company shall have settled and paid a claim under this policy, it shall be subrogated and entitled to the rights of the Insured Claimant in the Title and all other rights and remedies in respect to the claim that the In- 27306 (6/06) ALTA Owner's Policy (6/17/06) sured Claimant has against any person or property, to the extent of the amount of any loss, costs, attorneys' fees, and expenses paid by the Company. If re- quested by the Company, the Insured Claimant shall execute documents to evi- dence the transfer to the Company of these rights and remedies. The Insured Claimant shall permit the Company to sue, compromise, or settle in the name of the Insured Claimant and to use the name of the Insured Claimant in any transaction or litigation involving these rights and remedies. If a payment on account of a claim does not fully cover the loss of the In- sured Claimant, the Company shall defer the exercise of its right to recover un- til after the Insured Claimant shall have recovered its loss. (b) The Company's right of subrogation includes the rights of the Insured to indemnities, guaranties, other policies of insurance, or bonds, notwithstand- ing any terms or conditions contained in those instruments that address subro- gation rights. 14. ARBITRATION Either the Company or the Insured may demand that the claim or contro- versy shall be submitted to arbitration pursuant to the Title Insurance Arbitra- tion Rules of the American Land Title Association ( "Rules"). Except as provided in the Rules, there shall be no joinder or consolidation with claims or controversies of other persons. Arbitrable matters may include, but are not lim- ited to, any controversy or claim between the Company and the Insured arising out of or relating to this policy, any service in connection with its issuance or the breach of a policy provision, or to any other controversy or claim arising out of the transaction giving rise to this policy. All arbitrable matters when the Amount of Insurance is $2,000,000 or less shall be arbitrated at the option of either the Company or the Insured. All arbitrable matters when the Amount of Insurance is in excess of $2,000,000 shall be arbitrated only when agreed to by both the Company and the Insured. Arbitration pursuant to this policy and un- der the Rules shall be binding upon the parties. Judgment upon the award ren- dered by the Arbitrator(s) may be entered in any court of competent jurisdiction. 15. LIABILITY LIMITED TO THIS POLICY; POLICY ENTIRE CONTRACT (a) This policy together with all endorsements, if any, attached to it by the Company is the entire policy and contract between the Insured and the Compa- ny. In interpreting any provision of this policy, this policy shall be construed as a whole. (b) Any claim of loss or damage that arises out of the status of the Title or by any action asserting such claim shall be restricted to this policy. (c) Any amendment of or endorsement t`o this policy must be in writing and authenticated by an authorized person, or expressly incorporated by Schedule A of this policy. (d) Each endorsement to this policy issued at any time is made a part of this policy and is subject to all of its terms and provisions. Except as the endorse- ment expressly states, it does not (i) modify any of the terms and provisions of the policy, (ii) modify any prior endorsement, (iii) extend the Date of Policy, or (iv) increase the Amount of Insurance. 16. SEVERABILITY In the event any provision of this policy, in whole or in part, is held invalid or unenforceable under applicable law, the policy shall be deemed not to in- clude that provision or such part held to be invalid, but all other provisions shall remain in full force and effect. 17. CHOICE OF LAW; FORUM (a) Choice of Law: The Insured acknowledges the Company has underwrit- ten the risks covered by this policy and determined the premium charged there- for in reliance upon the law affecting interests in real property and applicable to the interpretation, rights, remedies, or enforcement of policies of title insurance of the jurisdiction where the Land is located. Therefore, the court or an arbitrator shall apply the law of the jurisdiction where the Land is located to determine the validity of claims against the Title that are adverse to the Insured and to interpret and enforce the terms of this pol- icy. In neither case shall the court or arbitrator apply its conflicts of law princi- ples to determine the applicable law. (b) Choice of Forum: Any litigation or other proceeding brought by the In- sured against the Company must be filed only in a state or federal court within the United States of America or its territories having appropriate jurisdiction. 18. NOTICES, WHERE SENT Any notice of claim and any other notice or statement in writing required to be given to the Company under this policy must be given to the Company at Fidelity National Title Insurance Company, Attn: Claims Department, P. 0. Box 45023, Jacksonville, Florida 32232-5023. 27306 (6/06) ALTA Owner's Policy (6/17/06) ALTA Owner's Policy (6117/06) ' TitleOne Corporation Authorized Agent for: TitleOne Fidelity National Title Insurance Company a title & escrow co. SCHEDULE A Name and Address of Title Insurance Company: Fidelity National Title Insurance Company 601 Riverside Avenue, Building 5, 4th Floor Jacksonville, FL 32204 File Number:13226201 Policy Number: 27306-89564476 Date of Policy: August 16, 2013 at 1:56PM Amount of Insurance: $3,049,200.00 Premium: $7,572.00 Property Address Reference: 2805 E Commercial St, Meridian, ID 83642 1. Name of Insured: H.O.T.1 LLLP 2. The estate or interest in the land that is insured by this policy is: Fee Simple as to Parcels I and II; Easement as to Parcel III. 3. Title is vested in: H.O.T.1 LLLP, an Idaho limited liability limited partnership 4. The Land referred to in this policy is described as follows: See Attached Schedule C TitleOne Corporation By: 4A Scott Thiel, Authorized Signatory ALTA Owner's Policy (6117/06) SCHEDULE B Exceptions from Coverage File Number:13226201 Policy Number: 27306-89564476 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: 1. Rights or claims of parties in possession not shown by the public records. 2. 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, and that is not shown by the Public Records. 3. Easements, or claims of easements, not shown by the public records. 4. Any lien, or right to a lien, for services, labor, or materials 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 in Acts authorizing the issuance thereof; (c) water rights, claims to title to water, whether or not the matters excepted under (a), (b), or (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. 7. Taxes, including any assessments collected therewith, for the year 2013 which are a lien not yet due and payable. 8. The land described herein is located within the boundaries of City of Meridian (208-888-4433) and is subject to any assessments levied thereby. None are due and payable. (Affects Parcels I, II and III) 9. The land described herein is located within the boundaries of Nampa -Meridian Irrigation District (208-466-7861) and is subject to any assessments levied thereby. None are due and payable. (Affects Parcels I, II and III) 10. The land described herein is located within the boundaries of Settlers Irrigation District (208-344-2471) and is subject to any assessments levied thereby. None are due and payable. (Affects Parcels I, II and III) 11. Reservations and exceptions in a United States Patent, and in the act authorizing the issuance thereof, recorded September 12.1903 in Book 3 of Patents, at Page 274, records of Ada County, Idaho. (Affects Parcels I and 11) 12. Covenants, Conditions, and Restrictions, and, Easements but omitting covenants or restrictions, if any, based upon race, color, religion, sex, sexual orientation, familial status, marital status, disability, handicap, national origin, ancestry, or source of income, as set forth in applicable state or federal laws, except to the extent that said covenant or restriction is permitted by applicable law. Recorded: October 12,1976 Instrument No.: 7640090 (Affects Parcels I and 11) 13. The following matters, and any rights, easements, interests or claims as disclosed by Record of Survey No. B145 recorded June 27,1974 as Instrument No. 7935063, records of Ada County, Idaho. a.) Right-of-way for Snyder Lateral and the rights of access thereto for maintenance of said lateral. (Affects Parcel 1) ALTA Owner's Policy (6/17106) 14. An easement for the purpose shown below and rights incidental thereto as set forth in a Sanitary Sewer Easement Permanent and Temporary. Granted to: City of Meridian, Ada County, Idaho Purpose: Right-of-way for an easement for the operation and maintenance of a sewer line Recorded: November 5,1998 Instrument No.: 98106543 (Affects Parcel II) 15. Record of Survey No. 4503 recorded January 6,1999 as Instrument No. 99001613, records of Ada County, Idaho. (Affects Parcel 11) 16. Record of Survey No. 4522 recorded January 26,1999 as Instrument No. 99007545, records of Ada County, Idaho. (Affects Parcel 1) 17. Terms and provisions contained in a License Agreement by and between Nampa & Meridian Irrigation District and McCall Properties, LLC, a Washington limited liability company. Dated: March 6, 2012 Recorded: March 8, 2012 Instrument No:112021242 (Affects Parcels I and II) 18. An easement for the purpose shown below and rights incidental thereto as set forth in an Easement. Granted to: Nampa & Meridian Irrigation District Purpose: Deliver, convey and drain irrigation and drainage water, to operate, clean, maintain and repair the Synder Lateral and to access the Snyder Lateral with such personnel and equipment Recorded: March 8, 2012 Instrument No.:112021243 (Affects Parcels I and ll) ALTA Owner's Policy (6117106) SCHEDULE C Legal Description Parcel I: A parcel of land lying in the Northwest quarter of the Southeast quarter of Section 8, Township 3 North, Range 1 East, Boise Meridian, Ada County Idaho and more particularly described as follows: Beginning at the brass cap marking the Southwest corner of the said Southeast quarter of Section 8; thence North 0025'32" East,1362.73 feet along the Westerly boundary of the said Southeast quarter of Section 8 to an iron pin on the Northerly right-of-way line of the Union Pacific Railroad, also said point being the Real Point of Beginning; thence continuing North 0025'32" East, 450.00 feet along the said Westerly boundary of the Southeast quarter of Section 8 to an iron pin; thence South 88"34'19" East, 968.00 feet along a line Northerly of and parallel to the said Northerly right-of-way line of the Union Pacific Railroad to an iron pin; thence South 0025'32" West, 450.00 feet along a line Easterly of and parallel to the said Westerly boundary of the Southeast quarter of Section 8 to an iron pin on the said Northerly right-of-way line of the Union Pacific Railroad; thence North 88"34'19" West, 968.00 feet along the said Northerly right-of-way line of the Union Pacific Railroad to the Point of Beginning. Excepting therefrom: A parcel of land situate in the Southeast quarter of Section 8, Township 3 North, Range 1 East of the Boise Meridian, Ada County, Idaho, said parcel being bounded and described as follows: Beginning at a point on the West line of said Southeast quarter of Section 8, from which point the South quarter corner of said Section bears South 00"25'32" West,1362.73 feet, said point also being on the Northerly right-of-way line of the Oregon Short Line Railroad Company; thence along said West line North 00025'32" East, 450.00 feet; thence South 88034'19" East, 252.00 feet; thence South 00025'32" West, 450.00 feet to a point on the Northerly right-of-way line of said Railroad Company; thence along said right-of-way line North 88034'19" West, 252.00 feet to the Point of Beginning. Parcel II: A parcel of land situate in the Southeast quarter of Section 8, Township 3 North, Range 1 East of the Boise Meridian, Ada County, Idaho, said parcel being bounded and described as follows: Beginning at a point on the Northerly right-of-way line of the Oregon Short Line Railroad Company Main Line Tract, from which point the South quarter corner of said Section 8 bears North 88"34'19" West, 968.00 feet and South 00"2532" West,1362.73 feet, said point also being the Southeast corner of that certain parcel of land conveyed by Elixir Industries to Great Western Chemical Company of Portland, on September 13,1976, recorded as Instrument No. 7640089 in the official records of Ada County, Idaho; thence North 00025'32" East, 450.00 feet to the Northeast corner of said Elixir to Great Western Chemical conveyance; thence South 88034'19" East, 252.00 feet; thence South 00025'32" West, 450.00 feet to a point on the Northerly right-of-way line of said Railroad Company; thence along said right-of-way line North 88*34'19" West, 252.00 feet to the Point of Beginning. Parcel III: A non-exclusive easement for ingress and egress as created by the Declaration of Covenants and Restrictions and Easement Agreement recorded October 12,1976 as Instrument No. 7640090, records of Ada County, Idaho, over the following property: A 50 foot strip of land lying in the Southeast quarter of Section 8, Township 3 North, Range 1 East, Boise Meridian, Ada County, Idaho and more particularly described as follows: Beginning at the brass cap marking the Southeast corner of the said Southeast quarter of Section 8; thence North 1 "23'23" East,1748.75 feet along the Easterly boundary of the said Southeast quarter of Section 8, which is also the centerline of Eagle Road, to a point, also said point being the Real Point of Beginning; thence continuing North 1 "23'23" East, 50.00 feet along the said Easterly boundary of the Southeast quarter of Section 8 to a point; thence North 88034'19" West, 2601.44 feet along a line Northerly of and parallel to the Northerly right-of-way line of the Union Pacific Railroad to an iron pin ALTA Owner's Policy (6117106) on the Westerly boundary of the said Southeast quarter of Section 8; thence South 0°25'32" West, 50.01 feet along the said Westerly boundary of the Southeast quarter of Section 8 to an iron pin; thence South 88034'19" East, 2600.60 feet along a line Northerly of and parallel to the said Northerly right-of-way line of the Union Pacific Railroad to the Point of Beginning. as noes ,c 1 '1 1 I 1 I I I 1 1 1 1 I I L I f I I I i I I I I I I I I I I I 1 I 1 I I I I I I I I I I I I I I I 1 I I I I I � I II I I I I I I � I I I I I Z Z ~ S w w t2tyy¢w W LL ot, S y¢y O Z I¢y a Fe fALL�LL{01�0J fE •r II 1 1 i 1 1 \ I it • T V R----- ` -- ------ I s x n Y G folio