HomeMy WebLinkAboutCommitment and Map_31105265 (2)
First American Title Company
924 Stoneridge Drive Unit 1, Bozeman, MT 59718
Phone (406)586-1978 - Fax (406)587-7804
Escrow Officer: Gail Huls - ghuls@gofirstam.com
Title Officer: Cassie Hanson - chanson@gofirstam.com
COMMITMENT FOR TITLE INSURANCE
____________________________________________________________________
To: Prudential Montana Real Estate Order No.: 488361-BZ
2001 Stadium Drive, Ste. A
Bozeman, MT 59715
Attention: Paul Rubright
Your Reference:
Re: Property Address: Tract 1A of COS 2554A, Bozeman, MT 59718
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= Form 5011000 (8/1/09) ALTA Plain Language Commitment (6-17-06)
Commitment
Title Insurance Commitment
BY
First American Title Insurance Company
TABLE OF CONTENTS
INFORMATION The Title Insurance Commitment is a legal contract between you and the Company. It is issued to show the basis on which we will issue a Title Insurance Policy to you. The Policy will insure you against certain risks to the land title, subject to the limitations shown in the Policy.
The Company will give you a sample of the Policy form, if you ask.
This Policy contains an arbitration clause. All arbitrable matters when the Matter of Insurance is $2,000,000 or less shall be arbitrated at the option of either the Company or you as the exclusive remedy of the parties. You may review a copy of the arbitration rules at http://www.alta.org/. The Commitment is based on the land title as of the Commitment Date. Any changes in the land title or the transaction may affect the Commitment and the Policy.
The Commitment is subject to its Requirements, Exceptions and Conditions.
THIS INFORMATION IS NOT PART OF THE TITLE INSURANCE COMMITMENT. YOU SHOULD READ THE COMMITMENT VERY CAREFULLY. If you have any questions about the Commitment, contact: FIRST AMERICAN TITLE INSURANCE COMPANY 1 First American Way; Santa Ana, CA 92707.
AGREEMENT TO ISSUE POLICY CONDITIONS SCHEDULE A 1. Commitment Date 2. Policies to be Issued, Amounts and Proposed Insureds 3. Interest in the Land and Owner 4. Description of the Land SCHEDULE B-I REQUIREMENTS SCHEDULE B-II EXCEPTIONS
1 2
Insert Insert Insert
AGREEMENT TO ISSUE POLICY We agree to issue policy to you according to the terms of the Commitment. When we show the policy amount and your name as the proposed insured in Schedule A, this Commitment becomes effective as of the Commitment Date shown in Schedule A.
If the Requirements shown in this Commitment have not been met within six months after the Commitment Date, our obligation under this Commitment will end. Also, our obligation under this Commitment will end when the Policy is issued and then our obligation to you will be under the Policy.
Our obligation under this Commitment is limited by the following:
• The Provisions in Schedule A.
• The Requirements in Schedule B-I.
• The Exceptions in Schedule B-II.
• The Conditions on Page 2.
This Commitment is not valid without SCHEDULE A and Sections I and II of SCHEDULE B.
First American Title Insurance Company
Dennis J. Gilmore President
Timothy Kemp Secretary
(This Commitment is valid only when Schedules A and B are attached) This jacket was created electronically and constitutes an original document
Copyright 2006-2009 American Land Title Association. All rights reserved. The use of this form is restricted to ALTA licensees and ALTA members in
good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association.
CONDITIONS
1. DEFINITIONS
(a) Mortgage means mortgage, deed of trust or othe r security instrument. (b) P ublic Records means title
records that give constructive notice of matters affecting your title according to the state statutes where your land is
located.
2. LATER DEFECTS
The Exceptions in Schedule B - Section II may be amended to show any defects, liens or encumbrances that
appear for the first time in the public records or are created or attached between the Commitment Date and the date
on which all of the Requirements (a) and (c) of Schedule B - Section I are met. We shall have no liability to you
because of this amendment.
3. EXISTING DEFECTS
If any defects, liens or encumbrances existing at Commitment Date are not shown in Schedule B, we may amend
Schedule B to show them. If we do amend Schedule B to show these defects, liens or encumbrances, we shall be liable
to you according to Paragraph 4 below unless you knew of this information and did not tell us about it in writing.
4. LIMITATION OF OUR LIABILITY
Our only obligation is to issue to you the Policy referred to in this Commitment, when you have met its
Requirements. If we have any liability to you for any loss you incur because of an error in this Commitment, our
liability will be limited to your actual loss caused by your relying on this Commitment when you acted in good faith to:
Comply with the Requirements shown in Schedule B Section I
or
Eliminate with our written consent any Exceptions shown in Schedule B Section II.
We shall not be liable for more than the Policy Amount shown in Schedule A of this Commitment and our liability is
subject to the terms of the Policy form to be issued to you.
5. CLAIMS MUST BE BASED ON THIS COMMITMENT
Any claim, whether or not based on negligence, which you may have against us concerning the title to the land
must be based on this Commitment and is subject to its terms.
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= Form 5011000-A (8/1/09) ALTA Plain Language Commitment (6-17-06) Schedule A
Schedule A
Title Insurance Commitment
BY
First American Title Insurance Company
FIRST COMMITMENT
File No.: 488361-BZ
1. Commitment Date : December 31, 2013 at 7:30 A.M.
2. Policy or Policies to be issued:
Policy Amount Premium Amount
X ALTA Standard Owner’s Policy of Title Insurance
(6-17-06)
ALTA Homeowner’s Policy of Title Insurance
(rev. 1-1-08)
(Premium amount reflects no available credit) $2,000,000.00 $ 4,207.00
Proposed Insured:
Soccer Education Foundation, Inc.
ALTA Loan Policy of Title Insurance
(6-17-06)
ALTA Expanded Coverage Residential Loan
Policy (rev. 1-1-08)
(Premium amount reflects no available credit) $To be
determined
and agreed to
by the
Company
$ To be
determined
Proposed Insured:
To be determined and agreed to by the Company
Endorsements: 9-06, 22-06, 8.1-06 $
Total Title Fees: $ To be
determined
Underwriting Fees: $
Agent Title Fees: $
3. A fee simple interest in the land described in this Commitment is owned, at the Commitment
Date, by:
Heirs and Devisees of Vesta F. Anderson, who acquired title as Vesta Fern Anderson,
deceased. Spencer Neil Anderson has been appointed Personal Representative of said
estate; and Baxter Ranch Holding, LTD, as their respective interests appear of record
4. The land referred to in this Commitment is described as follows:
Tract 1A of Certificate of Survey No. 2554A, located in the NW… and SW… of Section
3, Township 2 South, Range 5 East, P.M.M., Gallatin County, Montana, according to
the official plat thereof on file and of record in the office of the County Clerk and
Recorder of Gallatin County, Montana.
Commonly known as: Tract 1A of COS 2554A, Bozeman, MT 59718
By:
Authorized Countersignature
(This Schedule A valid only when Schedule B is attached.)
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= Form 5011000-BI (8/1/09) ALTA Plain Language Commitment (6-17-06)Schedule BI
Schedule BI
Title Insurance Commitment
BY
First American Title Insurance Company
REQUIREMENTS
File No.: 488361-BZ
The following requirements must be met:
(a) Pay the agreed amounts for the interest in the land and/or the mortgage to be insured.
(b) Pay us the premiums, fees and charges for the policy.
(c) Documents satisfactory to us creating the interest in the land and/or the mortgage to be insured
must be signed, delivered and recorded.
(d) You must tell us in writing the name of anyone not referred to in this Commitment who will get
an interest in the land or who will make a loan on the land. We may then make additional
requirements or exceptions.
(e) Release(s) or Reconveyance(s) of items(s) .
(f) If any document in the completion of this transaction is to be executed by an attorney-in-fact,
the Power of Attorney must be submitted for review prior to closing.
(g) You must give us the following information:
1. Any off record leases, surveys, etc.
2. Statement(s) of identity, all parties.
3. Other.
(h) Terms, conditions, and provisions of the general partnership agreement and any amendments
thereto, of Baxter Ranch Holding, LTD. We require proof of the power and authority of the party
or parties who plan to execute the forthcoming conveyance or mortgage on behalf of said
partnership.
(i) We require a copy of the Articles of Incorporation, By-laws, regulations and any amendments
evidencing the power and authority of the party or parties who plan to execute the forthcoming
conveyance or mortgage on behalf of Soccer Education Foundation, Inc.
(j) To eliminate paragraphs 15 & 16 of Schedule B - Exceptions, we require one or more of the
following:
1. A final determination letter from the IRS that taxes are paid,
2. A bond filed with the IRS to cover the payment of the tax,
3. A Certificate of Discharge or Certificate of Release of the property.
(k) The application for Title Insurance discloses a legal description which is a portion of the land
described in Schedule A. In order to remove Exception No. 17 of Schedule B, prior to closing we
require:
A certificate of survey being filed with the County Clerk and Recorder.
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= Form 5011030-BII (8/1/09) ALTA Plain Language Commitment (6-17-06)Montana - Schedule BII
Schedule BII
Title Insurance Commitment
BY
First American Title Insurance Company
EXCEPTIONS
File No.: 488361-BZ
Any policy we issue will have the following exceptions unless they are taken care of to our satisfaction.
1. Taxes or assessments which are not shown as existing liens by the records of any taxing
authority that levies taxes or assessments on real property or by the public records.
2. Any facts, rights, interests, or claims which are not shown by the public records but which could
be ascertained by an inspection of said land or by making inquiry of persons in possession
thereof.
3. Easements, claims of easement or encumbrances which are not shown by the public records.
4. Any encroachment, encumbrance, violation, variation, or adverse circumstance affecting the title
including discrepancies, conflicts in boundary lines, shortage in area, or any other facts that
would be disclosed by an accurate and complete land survey of the land, and that are not shown
in 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 or title to water, whether or not the matters excepted
under (a), (b), or (c) are shown by the public records.
6. Any liens, or rights to a lien, for services, labor or material theretofore or hereafter furnished,
imposed by law and not shown by the public records.
7. Any right, title or interest in any minerals, mineral rights or related matters, including but not
limited to oil, gas, coal and other hydrocarbons, sand, gravel or other common variety materials,
whether or not shown by the public records.
8. County road rights-of-way not recorded and indexed as a conveyance of record in the office of
the Clerk and Recorder pursuant to Title 70, Chapter 21, M.C.A., including, but not limited to any
right of the Public and the County of Gallatin to use and occupy those certain roads and trails as
depicted on County Surveyor’s maps on file in the office of the County Surveyor of Gallatin
County.
9. 2014 taxes and special assessments are a lien; amounts not yet determined or payable. The first
one-half becomes delinquent after November 30th of the current year, the second one-half
becomes delinquent after May 31st of the following year.
General taxes as set forth below. Any amounts not paid when due will accrue penalties and
interest in addition to the amount stated herein:
Year 1st Half 2nd Half Parcel Number
2013 $296.92 Paid $290.32 Unpaid RGG54801
10. 2014 taxes and special assessments are a lien; amounts not yet determined or payable. The first
one-half becomes delinquent after November 30th of the current year, the second one-half
becomes delinquent after May 31st of the following year.
General taxes as set forth below. Any amounts not paid when due will accrue penalties and
interest in addition to the amount stated herein:
Year 1st Half 2nd Half Parcel Number
2013 $116.71 Paid $116.69 Unpaid RGG65119
11. Agreement upon the terms, conditions and provisions contained therein:
Parties: Robert G. Baxter and Marie C. Baxter and Peter S. Dyk and Catherine Dyk
Recorded: September 8, 1950, Book 14 of Miscellaneous, page 122
12. Farm Lease upon the terms, conditions and covenants contained therein:
Recorded: March 31, 1986 , Film 91, page 1955
Lessor: Vesta F. Anderson and Mary C. Nelson
Lessee: Ronald J. Bos.
13. Right-of-way granted to Montana Power Company, recorded in Film 95, Page 273.
14. All matters, covenants, conditions, restrictions, easements and any rights, interests or claims
which may exist by reason thereof, disclosed by the recorded plat of Certificate of Survey No.
2554 and 2554A, but deleting any covenant, condition or restriction indicating a preference,
limitation or discrimination based on race, color, religion, sex, handicap, familial status, or
national origin to the extent such covenants, conditions or restrictions violate 42 USC 3604(c).
15. Federal Tax Lien for any amounts due thereunder.
Taxpayer: Vesta F. Anderson Estate and Spencer N. Anderson
Amount: $ 4,155,382.96
Recorded: September 17, 2012 as Instrument No. 2426621.
Certificate of Discharging Property Subject to Estate Tax Lien recorded February 20, 2013 as
Instrument No. 2441121.
16. Any lien for federal estate tax payable by reason of the death of Vesta Fern Anderson.
17. Subject to a certificate of survey being filed with the county clerk and recorder and any
modifications as to said legal description.
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INFORMATIONAL NOTES
A. As an accommodation and not part of this commitment, no liability is assumed by noting the
following conveyances describing all or a part of the subject property, which have been recorded
within the last 24 months: None
B. In addition to standard County recording fees, an electronic filing fee of $5.00 per
document may be charged.
C. Other than as shown in Schedule B; we find no Judgment Liens, State Tax Liens, Federal Tax
Liens or Child Support Liens of record which attach to the name(s) or interest of the vested
owner and/or proposed insured owner/borrower.
Privacy Information
We Are Committed to Safeguarding Customer Information In order to better serve your needs now and in the future, we may ask you to provide us with certain information. We understand that you may be concerned
about what we will do with such information - particularly any personal or financial information. We agree that you have a right to know how we will utilize the personal information you provide to us. Therefore, together with our subsidiaries we have adopted this Privacy Policy to govern the use and handling of your
personal information. Applicability
This Privacy Policy governs our use of the information that you provide to us. It does not govern the manner in which we may use information we have obtained
from any other source, such as information obtained from a public record or from another person or entity. First American has also adopted broader guidelines that govern our use of personal information regardless of its source. First American calls these guidelines its Fair Information Values.
Types of Information
Depending upon which of our services you are utilizing, the types of nonpublic personal information that we may collect include:
• Information we receive from you on applications, forms and in other communications to us, whether in writing, in person, by telephone or any other means;
• Information about your transactions with us, our affiliated companies, or others; and
• Information we receive from a consumer reporting agency.
Use of Information
We request information from you for our own legitimate business purposes and not for the benefit of any nonaffiliated party. Therefore, we will not release your information to nonaffiliated parties except: (1) as necessary for us to provide the product or service you have requested of us; or (2) as permitted by law. We
may, however, store such information indefinitely, including the period after which any customer relationship has ceased. Such information may be used for any internal purpose, such as quality control efforts or customer analysis. We may also provide all of the types of nonpublic personal information listed above to one or
more of our affiliated companies. Such affiliated companies include financial service providers, such as title insurers, property and casualty insurers, and trust and investment advisory companies, or companies involved in real estate services, such as appraisal companies, home warranty companies and escrow companies.
Furthermore, we may also provide all the information we collect, as described above, to companies that perform marketing services on our behalf, on behalf of our affiliated companies or to other financial institutions with whom we or our affiliated companies have joint marketing agreements.
Former Customers Even if you are no longer our customer, our Privacy Policy will continue to apply to you.
Confidentiality and Security
We will use our best efforts to ensure that no unauthorized parties have access to any of your information. We restrict access to nonpublic personal information about you to those individuals and entities who need to know that information to provide products or services to you. We will use our best efforts to train and
oversee our employees and agents to ensure that your information will be handled responsibly and in accordance with this Privacy Policy and First American’s Fair Information Values. We currently maintain physical, electronic, and procedural safeguards that comply with federal regulations to guard your nonpublic personal
information.
Information Obtained Through Our Web Site First American Financial Corporation is sensitive to privacy issues on the Internet. We believe it is important you know how we treat the information about you we
receive on the Internet. In general, you can visit First American or its affiliates Web sites on the World Wide Web without telling us who you are or revealing any information about yourself. Our Web servers collect the domain names, not the e-mail addresses, of visitors. This information is aggregated to measure the
number of visits, average time spent on the site, pages viewed and similar information. First American uses this information to measure the use of our site and to develop ideas to improve the content of our site.
There are times, however, when we may need information from you, such as your name and email address. When information is needed, we will use our best efforts to let you know at the time of collection how we will use the personal information. Usually, the personal information we collect is used only by us to
respond to your inquiry, process an order or allow you to access specific account/profile information. If you choose to share any personal information with us, we will only use it in accordance with the policies outlined above.
Business Relationships
First American Financial Corporation’s site and its affiliates’ sites may contain links to other Web sites. While we try to link only to sites that share our high standards and respect for privacy, we are not responsible for the content or the privacy practices employed by other sites.
Cookies
Some of First American’s Web sites may make use of "cookie" technology to measure site activity and to customize information to your personal tastes. A cookie is an element of data that a Web site can send to your browser, which may then store the cookie on your hard drive.
FirstAm.com uses stored cookies. The goal of this technology is to better serve you when visiting our site, save you time when you are here and to provide you with a more meaningful and productive Web site experience.
-------------------------------------------------------------------------------- Fair Information Values
Fairness We consider consumer expectations about their privacy in all our businesses. We only offer products and services that assure a favorable balance between consumer benefits and consumer privacy.
Public Record We believe that an open public record creates significant value for society, enhances consumer choice and creates consumer opportunity. We actively support an open public record and emphasize its importance and contribution to our economy.
Use We believe we should behave responsibly when we use information about a consumer in our business. We will obey the laws governing the collection, use and dissemination of data.
Accuracy We will take reasonable steps to help assure the accuracy of the data we collect, use and disseminate. Where possible, we will take reasonable steps to correct inaccurate information. When, as with the public record, we cannot correct inaccurate information, we will take all reasonable steps to assist consumers in
identifying the source of the erroneous data so that the consumer can secure the required corrections. Education We endeavor to educate the users of our products and services, our employees and others in our industry about the importance of consumer privacy. We will instruct our employees on our fair information values and on the responsible collection and use of data. We will encourage others in our industry to collect and use information in a responsible manner.
Security We will maintain appropriate facilities and systems to protect against unauthorized access to and corruption of the data we maintain.
Form 50-PRIVACY (9-1-10) Page 1 of 1 Privacy Information ( 2001-2010 First American Financial Corporation)