HomeMy WebLinkAboutPUD 07-03; Bressi Ranch Lot 16; Planned Unit Development - Non-Residential (PUD)1)
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~ ~ CITY OF CARLSBAD
LAND USE REVIEW APPLICATION
APPLICATIONS APPLIED FOR: (CHECK BOXES)
(FOR
DEPARTMENT
USE ONLY)
Administrative Permit D Planned Industrial Permit
Administrative Variance D Planning Commission Determination
Coastal Development Permit D Precise Development Plan
Conditional Use Permit D Redevelopment Permit
Condominium Permit D Site Development Plan
Environmental Impact Assessment D Special Use Permit
General Plan Amendment D Specific Plan
Hillside Development Permit D Ieotatilte earcel Map
Obtain from Engineering Department
Local Coastal Program Amendment D Tentative Tract Map
Master Plan D Variance
Minor Conditional Use Permit D Zone Change
Non-Residential Planned Development o-v-o? D List other applications not specified
Planned Development Permit
ASSESSOR PARCEL NO(S).: 213-261-07
3) PROJECT NAME: Bressi Ranch Lot 16
(FOR
DEPARTMENT
USE ONLY)
------------------------------------------·-----------------4) BRIEF DESCRIPTION OF PROJECT: Splitting one lot into three, two postage stamp for each building and
third for shared parking.
5) OWNER NAME (Print or Type) 6) APPLICANT NAME (Print or Type)
Red Texas Realty, LLC c/o The Kelly Capital Group Inc. Partners Planning and Engineering
MAILING ADDRESS MAILING ADDRESS
406 9th Avenue, Suite 309 15938 Bernardo Center Drive
CITY AND STATE ZIP TELEPHONE CITY AND STATE ZIP TELEPHONE
San Diego, Ca 92101 619-876-4176 San Diego, Ca 92127 858-376-3444
EMAILAD~S: EMAIL ADDRESS:. iakub@partnerspe.com
I CERTIFYfi~GAL OWNER AND THAT ALL THE ABOVE I CERTIFY THAT I AM THE LEGAL REPRESENTATIVE OF THE ~ 10 IS T E AND CORRECT TO THE BEST OF MY OWNER AND THAT ALL THE ABOVE INFORMATION IS TRUE ANC
. CORRECT TO THE BEST OF MY KNOWLEDGE .
'/J:.AA 1 1 .R 3 ,(3 ·0'1 ~4~~ 4 -I b-07
SIGNAl ~RE DATE ~URE DATE
7) B EF LEGAL DE CRIPTION Lot 16 of Map No. 14960
-
NOTE: A PROPOSED PROJECT REQUIRING MULTIPLE APPLICATIONS BE FILED, MUST BE SUBMITTED PRIOR TO 3:30P.M.
A PROPOSED PROJECT REQUIRING ONLY ONE APPLICATION BE FILED, MUST BE SUBMITTED PRIOR TO 4:00P.M.
1111 ;> C) 6 ""\:_)
p&JOl0 fq Form 14 Rev. 01/07 PAGE 1 OF 5
8) LOCATION OF PROJECT: 2544 and 2548 Campbell Place
STREET ADDRESS
ON THE I North SIDE OF I Gateway Road
(NORTH, SOUTH, EAST, WEST) (NAME OF STREET)
BETWEEN I El Camino Real AND I Innovation Wav
(NAME OF STREET) (NAME OF STREET)
9) LOCAL FACILITIES MANAGEMENT ZONE I t 7
1 0) PROPOSED NUMBER OF LOTS ~ 11) NUMBER OF EXISTING In{:! 12) PROPOSED NUMBER r::-1 ~ OF RESIDENTIAL UNITS ~
13) TYPE OF SUBDIVISION~
M~-
16) PERCENTAGE OF PROPOSED
PROJECT IN OPEN SPACE
19) GROSS SITE ACREAGE
22) EXISTING ZONING
L..___j RESIDENTIAL UNITS
014)
017)
,6.92120)
823)
PROPOSED IND OFFICEEJ 15) PROPOSED COMM
SQUARE FOOTAGE n a SQUARE FOOTAGE
PROPOSED INCREASE
INADT
EXISTING GENERAL
PLAN
PROPOSED ZONING
~ 18) PROPOSED SEWER
L.:..__j USAGE IN EDU
~ 21) PROPOSED GENERAL
~ PLAN DESIGNATION
~ 24) HABITAT IMPACTS
~ IF YES, Jl,SSIGN HMP #
EJ
EJ
25) IN THE PROCESS OF REVIEWING THIS APPLICATION IT MAY BE NECESSARY FOR MEMBERS OF CITY
26)
STAFF, PLANNING COMMISSIONERS, DESIGN REVIEW BOARD MEMBERS OR CITY COUNCIL MEMBERS TO
INSPECT AND ENTER THE PROPERTY THAT IS THE SUBJECT OF THIS APPLICATION. 1/WE CONSENT TO
ENTRY FOR THIS PURPOSE.
T~~UI.1ER ACKNOWLEDGES AND CONSENTS TO A NOTICE OF RESTRICTION FILED ON THE
CONDITIONED FOR THE APPLICANT. CERTAIN APPROVALS (SUCH AS A CONDITIONAL USE
:THE LAND AND BIND ANY SUCCESSORS IN INTEREST.
FEE COMPUTATION RECEIVED
APPLICATION TYPE FEE REQUIRED
TOTAL FEE REQUIRED
Form 14 Rev. 01/07
1 7 2007
CITY OF CARLSBAD
PLANNiNG DEPT
DATE STAMP APPLICATION RECEIVED
RECEIVED BY:
PAGE 2 OF 5
City of Carlsbad
1635 Faraday Avenue Carlsbad CA 92008
11111111111111111111111111111111111111111111111111111111111111111
Applicant: PARTNERS PLANNING AND ENG
Description Amount
PUD07003 2,600.00
2548 CAMPBELL PL CBAD
Not valid unless validated by Cash Register
PLEASE RETAIN RECEIPT FOR REFUNDS OR ADJUSTMENTS
Receipt Number: R0063887 Transaction ID: R0063887
Transaction Date: 04/17/2007
Pay Type Method Description Amount
Payment Check 1167 2,600.00
Transaction Amount: 2,600.00
....
PROJECT DESCRIPTION/EXPLANATION
PROJECT NAME: __ B_RE_· ~_SI_~0_1 __ 1_~ --------,.,---~------
APPLICANT NAME: __ J_o _k"...;..i,_M..:.Cl;;.;.:"".:;.;cZ-c~;;,;:...;_{-< ____________ _
Please describe fully the proposed project by application type. Include any details
necessary to adequately explain the scope and/or operation of the proposed project.
You may also include any background ioformation and supporting statements regarding
the reasons for, or appropriateness of, the application. Use an addendum sheet if
necessary.
Description/Explanation:
r V D +o :J o ~ · •. , l,
Project Description 1 0/96 Page 1 of 1
City of Carlsbad 1 wE'·'·"·'·' •AU ·';"''·'4 ·"
DISCLOSURE STATEMENT
Applicant's statement or disclosure of certain ownership interests on all applications which will require
discretionary action on the part of the City Council or any appointed Board, Commission or Committee.
The following information MUST be disclosed at the time of application submittal. Your project cannot be
reviewed until this information is completed. Please print.
Note:
Person is defined as "Any individual, firm, co-partnership, joint venture, association, social club, fraternal organization,
corporation, estate, trust, receiver, syndicate, in this and any other county, city and county, city municipality, district or
other political subdivision or any other group or combination acting as a unit."
Agents may sign this document; however, the legal name and entity of the applicant and property owner must be
provided below.
1. APPLICANT (Not the applicant's agent)
Provide the COMPLETE, LEGAL names and addresses of ALL persons having a financial interest
in the application. If the applicant includes a corporation or partnershiQ, include the names, title,
addresses of all individuals owning more than 10% of the shares. IF NO INDIVIDUALS OWN MORE
THAN 10% OF THE SHARES, PLEASE INDICATE NON-APPLICABLE. (N/A) IN THE SPACE
BELOW. If a publicly-owned corporation. include the names, titles, and addresses of the corporate
officers. {A separate page may be attached if necessary.)
Person Corp/Part ___________ _
Title __________ _ Title _____________ _
Address _________ _ Address ___________ _
2. OWNER (Not the owner's agent)
Provide the COMPLETE, LEGAL names and addresses of ALL persons having any ownership
interest in the property involved. Also, provide the nature of the legal ownership (i.e, partnership,
tenants in common, non~profit, corporation, etc.). If the ownership includes a corporation or
partnership, include the names, title, addresses of all individuals owning more than 10% of the
shares. IF NO INDIVIDUALS OWN MORE THAN 10% OF THE SHARES, PLEASE INDICATE
NON-APPLICABLE (N/A) IN THE SPACE BELOW. If a publicly-owned corporation1 include the
names, titles, and addresses of the corporate officers. (A separate page may be attached if
necessary.)
Person \( 0pnQ.\:h :£ &k.\etlQccorp/Part _______ _
Titl~e'2?1 k oJl'/ ~\ C-:1~\rt_Title. _________ _
VJ.~_vncy ~ber ~~Texcz::. ~\kfLL(__ ~() Q\ddress J Addr~ss
• 9tfl Ave. #301
San Diego, CA 92101
119-876-4176
---------------
1635 Faraday Avenue • Carlsbad, CA 92008·7314 • (760) 602-4600 • FAX (760) 602·8559 • www.ci.carlsbad.ca.us @
3. NON~PROFIT ORGANIZATION OR TRUST
If any person identified pursuant to {1) or (2) above is a nonprofit organization or a trust, list the
names and addresses of ANY person serving as an officer or director of the non-profit
organization or as trustee or beneficiary of the.
Non ProfiUTrust Non ProfiUTrust. _________ _
Title __________ _ Title. _____________ _
Address. _________ _ Address ____________ _
4. Have you had more than $500 worth of business transacted with any member of City staff,
Boards, Commissions, Committees and/or Council within the past twelve (12) months?
D Yes D No If yes, please indicate person(s): __________ _
NOTE: Attach additional sheets if necessary.
Signature of owner/applicant's agent if applicable/date
Print or type name of owner/applicant's agent
H:ADMIN\COUNTER\DISCLOSURE STATEMENT 12/06 Page 2 of2
FEB-23-2007 FRI 04:10PM CITY OF CARSLBAD FAX NO. 760 602 8558 ----· ---------. ---···---------· -.._:--·· .-.-:-··-.---_____ , ·r ----. .
PLEASE NOTE:
Time limits on the processing of discretionary projects established by st~te law
do not start until a project application is deeme.d complete by the City. The
City has 30 calendar days from the date of application submHtal to determine
whether an application is complete or incomplete. Within 30 days of submittal
of thU application you will rece;ive a letter stating whether this application
is complete or incomplete. If it: 1s incomplete. th~_letter will state what is
needed to make this applicat;on complete. When the aPplication is complete, the
processing period will start upon; the date of the completion letter.
Applicant Signature: ~ 4~
Staff Signature:
Date: --------------------~--------~-~--------------
To be stapled with r~ceipt to applicttion
Copy for file /
·.i
P. 01
Aug 15 0? 02:04p Partners Engineerin• UDII ::Noii!:UU/ IL.o£::1 b 8583?63555
Rue 10 0? 09~ 19• Plk .ner-s Encineer-inc p.2 nuv-ua-c:wr tU£. ll'l•C:I r11 ""' ot wrlsllad 1'1. r. 8583763 j
rM flU, fOU Ob..;.. OOOU r. uau.c
TaR'AlNEPARCEL IIAP
CJTY OF CARLSBAD .
TM SubdMSion Map Ad &Wid tha C8rtsbad Murlicipal Code seta a filly (50) -day Ume
ntStric:Uon ori Engineering Dapal1ment pracesa~ng. Thrs tlme timJt can DniJ be extended
·bY ths mutual COf1CLII'8nCe of the Applicant and the City. ay accepting applications for
Teotative Pan:el maps cmmmenUy with appleatil)ns for Olhar approval$_ whtdl ara
prerequisites to the Map (Le., Environmental AssasSiuent, Environmental lmpact ·
Report, COndominium Ptan,' Planned lN Dewqlment. etc.). the 1ifty (~) day time
limls are often exceeded. Wyou wish to have your~ procass d ~.
lhiS ag~~~ement RlU$1 be signed IJY·the Applicant ar Ns agent. If you choose not to $gil
lhe statement. the aty will not accept your lpp1k:atfon b the Tl!f1tative Peal Map u.ntil
all prior necessary ~itlemente have been processed and appruved.
The Undersigned WlderS1ands 1halthe Pf01*$ing lime. required ~ tha Cily-rnay eaed
the t1ma limits: thetefore. 1t1e Undersigned asire• to axtBnd 1h8 11me &nils for City .
Engineer aQion and fully concu.s wilh any &XI8nSions of time up ta one (1)-YNI'fror.n .
the dare the applfeatJon was accepted as a.np1ete to·~ review al Df the
~~-. .
Name (please print}
.....
Common
St. Croix Capital Corporation
4350 Executive Drive #301
San Diego, CA 92121
Attn: Jim Jacobs
ealth
Your Reference No: Lot 16 Bressi Ranch
Commonwealth Land Title Company
750 "B" Street
Suite 3000
San Diego, CA 92101
Phone: (619) 233-3000
FtECEiVED
AIPR 1 7 2007
CITY OF CARLSBAD
PLANNING DEPT
Our File No: 03207927 -609 -611P
Commercial Title Officer: Andre Pitchford
(apitchford@landam.com)
Phone: (619) 230-6367
Fax: (619) 233-5207
Property Address: Vacant Land, Carlsbad, California
2ND UPDATED PRELIMINARY REPORT
Dated as of January 11, 2007 at 7:30a.m.
In response to the above referenced application for a policy of title insurance, Commonwealth Land
Title Company hereby reports that it is prepared to issue, or cause to be issued, as of the date hereof,
a Policy or Policies of Title Insurance describing the land and the estate or interest therein hereinafter
set forth, insuring against loss which may be sustained by reason of any defect, lien or encumbrance
not shown or referred to as an Exception below or not excluded from coverage pursuant to the printed
Schedules, Conditions and Stipulations of said policy forms.
The printed Exceptions and Exclusion from the coverage and Limitations on Covered Risks of said
Policy or Policies are set forth in Exhibit B attached. Limitations on Covered Risks applicable to the
CLTA and ALTA Homeowner's Policies of Title Insurance which establish a Deductible Amount and a
Maximum Dollar Limit of Liability for certain coverages are also set forth in Exhibit B. Copies of the
Policy forms should be read. They are available from the office which issued this report.
Please read the exceptions shown or referred to below and the exceptions and exclusions
set forth in Exhibit B of this report carefully. The exceptions and exclusions are meant to
provide you with notice of matters which are not covered under the terms of the title
insurance policy and should be carefully considered. It is important to note that this
preliminary report is not a written representation as to the condition of title and may not
list all liens, defects, and encumbrances affecting title to the land.
This report (and any supplements or amendments hereto) is issued solely for the purpose of
facilitating the issuance of a policy of title insurance and no liability is assumed hereby. If it is desired
that liability be assumed prior to the issuance of a policy of title insurance, a Binder or Commitment
should be requested.
CLTA Preliminary Report (Revised 11-17-04)
Page 1
File No: 03207927
SCHEDULE A
The form of policy of title insurance contemplated by this report is:
Subdivision Guarantee
The estate or interest in the land hereinafter described or referred to covered by this report is:
A FEE
Title to said estate or interest at the date hereof is vested in:
Red Texas Realty LLC, a New York Limited Liability Company
The land referred to herein is situated in the County of San Diego, State of California, and is described
as follows:
SEE EXHIBIT "A" ATTACHED HERETO AND MADE A PART HEREOF
Page 2
File No: 03207927
EXHIBIT "A"
All that certain real property situated in the County of San Diego, State of
California, described as follows:
Lot 16 of Carlsbad Tract No. CT 02-15 Bressi Ranch, in the City of Carlsbad,
County of San Diego, State of California, according to Map thereof No. 14960,
filed in the Office of the County Recorder of San Diego County, February 4, 2005.
Page 3
File No: 03207927
SCHEDULE B
At the date hereof Exceptions to coverage in addition to the printed exceptions and exclusions in
said policy form would be as follows:
A. Property taxes, including general and special taxes, personal property taxes, if any, and any
assessments collected with taxes, to be levied for the fiscal year 2007 -2008 which are a lien
not yet payable.
B. Property taxes, including general and special taxes, personal property taxes, if any, and any
assessments collected with taxes, for the fiscal year 2006 -2007.
1st Installment:
2nd Installment:
Penalty (including cost):
Exemption:
Code Area:
Assessment No.:
$39,955.73 (Paid)
$39,955.73 (Open) This amount is valid until April 10, after which
penalties apply
$4,005.57 Due with installment amount if paid after April 10
$-0-
09165
213-261-07-00
C. Supplemental taxes, assessed pursuant to the prov1s1ons of Chapter 3.5 (commencing with
Section 75) of the Revenue and Taxation Code, of the State of California, for the fiscal year
2006-2007.
1st Installment:
2nd Installment:
Penalty:
Delinquent:
Supplemental Bill No:
$11,635.11 (Paid)
$11,635.11 (Deliquent)
$1,173.51
June 30, 2006
859-237-31-45
D. Property taxes, including general and special taxes, personal property taxes, if any, and any
assessments collected with taxes, for the fiscal year 2006-2007.
1st Installment:
2nd Installment:
Penalty (including cost):
Exemption:
Code Area:
Assessment No.:
$49,665.00 (Paid)
$49,665.00 (Open) This amount is valid until April 10, after which
penalties apply
$4,976.50 Due with installment amount if paid after April 10
$-0-
08119
900-001-12-00
Affects the herein-described land and other land.
Page 4
File No: 03207927
E. Property taxes, including general and special taxes, personal property taxes, if any, and any
assessments collected with taxes, for the fiscal year 2006 -2007.
1st Installment:
2nd Installment:
Penalty (including cost):
Exemption:
Code Area:
Assessment No.:
$49,999.99 (Paid)
$49,999.99 (Open) This amount is valid until April 10, after which
penalties apply
$5,010.00 Due with installment amount if paid after April 10
$-0-
08119
900-001-11-00
Affects the herein-described land and other land.
F. Supplemental or escaped assessments of property taxes, if any, assessed pursuant to the
Revenue and Taxation Code of the State of California.
G. Supplemental Taxes due to the County of San Diego which may be levied by virtue of:
Acquisition/transfer of title
H. An assessment (1915 Act) by the improvement district shown below.
Assessment/Bond No.:
Series:
District:
For:
Bond Issued:
Original Amount:
Said assessment may be,
taxes.
0000
2002-1
City of Carlsbad
Poinsettia Lane East
Not Set Out
$Not Set Out
and usually is, collected with the County/City general and special
I. The lien of any special assessment or tax resulting from the inclusion of the property in a
special assessment district or Mello-Roos Community Facilities District, which may exist by
virtue of assessment maps or notices filed and/or recorded by any such district. Assessments,
if any, arising from such assessment districts may be collected with the regular real property
taxes.
1. Water rights, claims or title to water, whether or not shown by the public records.
2. The matters contained in a document entitled "Agreement Regarding the Payment of a Public
Facilities Fee for Inside the Boundaries of Community Facilities District No. 1" recorded
December 11, 1998 as Instrument No. 1998-0806517 of Official Records.
Reference is made to said document for full particulars.
3. The matters contained in a document entitled "Notice of Restriction on Real Property" recorded
February 25, 2003 as Instrument No. 2003-0210190 of Official Records.
Reference is made to said document for full particulars.
4. The matters contained in a document entitled "Hold Harmless Agreement Drainage" recorded
Page 5
File No: 03207927
March 11, 2003 as Instrument No. 2003-0270075 of Official Records.
Reference is made to said document for full particulars.
5. The matters contained in a document entitled "Hold Harmless Agreement Geological Failure"
recorded March 11, 2003 as Instrument No. 2003-0270076 of Official Records.
Reference is made to said document for full particulars.
6. The matters contained in a document entitled "Notice of Restriction on Real Property" recorded
April 1, 2003 as Instrument No. 2003-0362107 of Official Records.
Reference is made to said document for full particulars.
7. Abutter's rights of ingress and egress to or from Palomar Airport Road have been dedicated or
relinquished on Map Nos. 14600 and 14960.
8. An easement for the purposes shown below and rights incidental thereto as shown or as
offered for dedication on the recorded map of said tract.
Purpose: landscape maintenance
Affects: As shown on said tract map
9. A declaration of covenants, conditions and restrictions which, among other things, may contain
or provide for easements; assessments, liens and the subordination thereof; said covenants,
conditions and restrictions provide that a violation thereof shall not defeat the lien of any
mortgage or deed of trust made in good faith and for value.
Recorded: March 15, 2005 as Instrument No. 2005-0210897 of Official
Records
NOTE: This exception omits any covenant, condition or restriction based on race, color,
religion, sex, handicap, familial status or national origin, unless and only to the extent that the
covenant, condition or restriction (a) is not in violation of state or federal law, (b) is exempt
under 42 U.S.C. Section 3607 or (c) relates to a handicap but does not discriminate against
handicapped people.
Said instrument also provides for the levy of assessments, the liens of which are stated to be
subordinate to the lien of any mortgage or deed of trust made in good faith and for value.
Among other things, said document provides for:
Easements over a portion of said land for the purpose therein shown, and rights incidental
thereto.
Page 6
File No: 03207927
10. The matters contained in a document entitled "Agreement Regarding Annexation of Certain
Real Property to Street Lighting and Landscape District No. 2 of the City of Carlsbad and
Approval of The Levy of Assessments on Such Real Property" recorded March 16, 2005 as
Instrument No. 2005-0216793 of Official Records.
Reference is made to said document for full particulars.
11. The matters contained in a document entitled "Declaration of Development Covenants,
Conditions and Restrictions " recorded March 30, 2005 as Instrument No. 2005-0258429 of
Official Records.
Reference is made to said document for full particulars.
12. The matters contained in a document entitled "Notice of Restriction on Real Property" recorded
June 2, 2005 as Instrument No. 2005-0461222 of Official Records.
Reference is made to said document for full particulars.
13. The matters contained in a document entitled "Declaration of Development Covenants,
Conditions and Restrictions " recorded June 9, 2005 as Instrument No. 2005-0483800 of
Official Records.
Reference is made to said document for full particulars.
14. The matters contained in a document entitled "Declaration of Covenants, Conditions and
Restrictions Regarding Buildings" recorded June 9, 2005 as Instrument No. 2005-0483802 of
Official Records.
Reference is made to said document for full particulars.
15. The matters contained in a document entitled "Declaration of Development Covenants,
Conditions and Restrictions " recorded June 23, 2005 as Instrument No. 2005-0528737 of
Official Records.
Reference is made to said document for full particulars.
16. The matters contained in a document entitled "Declaration of Development Covenants,
Conditions and Restrictions " recorded August 8, 2005 as Instrument No. 2005-0674048 of
Official Records.
Reference is made to said document for full particulars.
17. The matters contained in a document entitled "Declaration of Development Covenants,
Conditions and Restrictions " recorded August 11, 2005 as Instrument No. 2005-0689778 of
Official Records.
Reference is made to said document for full particulars.
Page 7
File No: 03207927
18. The matters contained in a document entitled "Declaration of Development Covenants,
Conditions and Restrictions " recorded September 1, 2005 as Instrument No. 2005-0758281 of
Official Records.
Reference is made to said document for full particulars.
19. The matters contained in a document entitled "Declaration of Covenants, Conditions and
Restrictions " recorded September 15, 2005 as Instrument No. 2005-0798937 of Official
Records.
Reference is made to said document for full particulars.
20. The matters contained in a document entitled "Declaration of Development Covenants,
Conditions and Restrictions " recorded September 20, 2005 as Instrument No. :2005-0809766
of Official Records.
Reference is made to said document for full particulars.
21. The matters contained in a document entitled "Declaration of Covenants, Conditions and
Restrictions " recorded September 28, 2005 as Instrument No. 2005-0837880 of Official
Records.
Reference is made to said document for full particulars.
22. The matters contained in a document entitled "Declaration of Development Covenants,
Conditions and Restrictions " recorded October 7, 2005 as Instrument No. 2005-0869942 of
Official Records.
Reference is made to said document for full particulars.
23. Intentionally deleted.
24. A financing statement filed in the office of the county Recorder, showing:
Debtor:
Secured Party:
Date:
Recorded:
Property Covered:
The Kelly Capital Group, Inc.
Torreonbridge National Investments, LLC
Not Set Out
October 17, 2005 as Instrument No. 2005-0896170 of Official
Records
as set forth therein
Reference is made to said document for full particulars.
25. Intentionally deleted.
26. Matters which may be disclosed by an inspection or by a survey of said land that is satisfactory
to this Company, or by inquiry of the parties in possession thereof.
Page 8
File No: 03207927
27. Any rights, interests or claims of the parties in possession of said land, including but not limited
to those based on an unrecorded agreement, contract or lease.
This Company will require that a full copy of any unrecorded agreement, contract or lease be
submitted to us, together with all supplements, assignments and amendments, before any
policy of title insurance will be issued.
28. Any easements not disclosed by those public records which impart constructive notice and
which are not visible and apparent from an inspection of the surface of said land.
29. 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.
30. A construction deed of trust to secure an indebtedness in the amount shown below, and any
other obligations secured thereby.
Amount:
Dated:
Trustor:
Trustee:
Beneficiary:
Recorded:
$16,828,000.00
May 30, 2006
Red Texas Realty LLC, a New York limited liability company
First American Title Insurance Company
California Bank & Trust, a California banking corporation
June 23, 2006 as Instrument No. 2006-0444816 of Official Records
31. Any claims for mechanic's liens on said land that may be recorded, by reason of a work of
improvement that is disclosed by the document shown below
Document:
Recorded:
Construction Deed of Trust, Assignment of Rents, Security
Agreement and Fixture Filing
June 23, 2006 as Instrument No. 2006-0444816 of Official Records
32. An unrecorded lease with certain terms, covenants, conditions and provisions set forth therein.
Lessor:
Lessee:
Disclosed by:
Recorded:
Red Texas Realty LLC, a New York limited liability company
Arrowhead General Insurance Agency, Inc., a Minnesota
corporation
Subordination, Non-Disturbance and Attornment Agreement
June 23, 2006 as Instrument No. 2006-0444817 of Official Records
The present ownership of the leasehold created by said lease and other matters affecting the
interest of the lessee are not shown herein.
An agreement which states that this instrument was subordinated
To: Deed of Trust
Recorded: June 23, 2006 as Instrument No. 2006-0444816 of Official Records
By Agreement
Recorded: June 23, 2006 as Instrument No. 2006-0444817 of Official Records
33. A document subject to all the terms, provisions and conditions therein contained.
Entitled: Notice of Restriction on Real Property
Page 9
File No: 03207927
Dated: May 16, 2006
Executed by: Red Texas Realty, LLC and The City of Carlsbad
Recorded: July 14, 2006 as Instrument No. 2006-0498029 of Official Records
34. A document subject to all the terms, provisions and conditions therein contained.
Entitled:
Dated:
Executed by:
Recorded:
Notice and Waiver Concerning Proximity of the Planned or Existing
Transportation Corridor(s) Case No. PIP 05-19
May 16, 2006
Red Texas Realty LLC, a corporation
July 14, 2006 as Instrument No. 2006-0498030 of Official Records
35. A document subject to all the terms, provisions and conditions therein contained.
Entitled:
Dated:
Executed by:
Recorded:
Notice Concerning Aircraft Environmental Impacts Case No. PIP 05-
19
May 16, 2006
Red Texas Realty, LLC, a corporation
July 14, 2006 as Instrument No. 2006-0498031 of Official Records
36. An easement for the purpose shown below and rights incidental thereto as set forth in a
document
Granted to:
Purpose:
Recorded:
Affects:
Carlsbad Municipal Water District, a Public Agency
Waterline purposes
August 17, 2006 as Instrument No. 2006-0587621 of Official
Records
said land more particularly described therein.
Affects: Portions of the herein described land, the exact location of which can be determined
by examination of the above-mentioned instrument, which contains a complete legal
description of the affected portions of said land.
37. An easement
document
Granted to:
Purpose:
Recorded:
Affects:
for the purpose shown below and rights incidental thereto as set forth in a
San Diego Gas & Electric Company, a corporation
public utilities, ingress and egress
September 26, 2006 as Instrument No. 2006-0682778 of Official
Records
said land more particularly described therein.
The exact location and/or extent of said easement is not disclosed in the public records.
END OF SCHEDULE B EXCEPTIONS
PLEASE REFER TO THE "NOTES AND REQUIREMENTS SECTION" WHICH
FOLLOWS FOR INFORMATION NECESSARY TO COMPLETE THIS TRANSACTION
Page 10
File No: 03207927
REQUIREMENTS SECTION:
REQ N0.1: The Company will require a statement of information from the parties named below
in order to complete this report, based on the effect of documents, proceedings, liens, decrees, or
other matters which do not specifically describe said land, but which, if any do exist, may affect the
title or impose liens or encumbrances thereon.
Parties Buyers/Sellers
REQ N0.2: The Company will require that it be provided with the following with respect to the
California limited liability company named below:
A. A copy of its operating agreement and any amendments thereto;
B. A certified copy of its articles of organization (LLC-1), any certificate of correction (LLC-11),
certificate of amendment (LLC-2), or restatement of articles or organization (LLC-10); and
C. A copy of the current Statement of Information form (LLC-12) filed with the Secretary of State.
Limited Liability Company: Red Texas realty LLC, a New York Limited Liability Company
REQ N0.3: The Company will require that, upon completion of the improvements under
construction on the land, a Notice of Completion be recorded in the office of the County Recorder.
Page 11
File No: 03207927
INFORMATIONAL NOTES SECTION
NOTE NO. 1: The information on the attached plat is provided for your convenience as a guide to
the general location of the subject property. The accuracy of this plat is not guaranteed, nor is it a
part of any policy, report or guarantee to which it may be attached.
NOTE NO.2: California insurance code section 12413.1 regulates the disbursement of escrow
and sub-escrow funds by title companies. The law requires that funds be deposited in the title
company escrow account and available for withdrawal prior to disbursement. Funds deposited with
the company by wire transfer may be disbursed upon receipt. Funds deposited with the company
via cashier's check or teller's check drawn on a California based bank may be disbursed on the next
business day after the day of deposit. If funds are deposited with the company by other methods,
recording and/or disbursement may be delayed. All escrow and sub-escrow funds received by the
company will be deposited with other escrow funds in one or more non-interest bearing escrow
accounts of the company in a financial institution selected by the company. The company may
receive certain direct or indirect benefits from the financial institution by reason of the deposit of
such funds or the maintenance of such accounts with such financial institution, and the company
shall have no obligation to account to the depositing party in any manner for the value of, or to pay
to such party, any benefit received by the company. Those benefits may include, without limitation,
credits allowed by such financial institution on loans to the company or its parent company and
earnings on investments made with the proceeds of such loans, accounting, reportin9 and other
services and products of such financial institution. Such benefits shall be deemed additional
compensation of the company for its services in connection with the escrow or sub-escrow.
WIRING INSTRUCTIONS FOR THIS OFFICE ARE:
Union Bank
530 "B" Street
San Diego, CA 92101
ABA# 122-000-496
Credit To: Commonwealth Land Title Company -San Diego County
Account #9100899563
RE: 03207927 -609 -AP7
PLEASE INDICATE COMMONWEALTH LAND TITLE COMPANY ESCROW OR TITLE ORDER
NUMBER
Page 12
File No: 03207927
NOTE NO. 3: The charges which the company will make for next day messenger services (i.e.
Federal Express, UPS, DHL, Airborne, Express mail, etc.) Are $15.00 per letter, standard overnight
service, and $25.00 for larger size packages and/or priority delivery services. Such charges
include the cost of such messenger service and the company's expenses for arranging such
messenger service and its overhead and profit. Special messenger services will be billed at the
cost of such services. There will be no additional charge for pick-up or delivery of packages via the
company's regularly scheduled messenger runs.
NOTE NO. 4. The charge for a policy of title insurance, when issued through this title order, will
be based on the Short Term Rate .
NOTE NO. 5. THIS COMPANY REQUIRES CURRENT BENEFICIARY DEMANDS PRIOR TO CLOSING.
If the demand is expired and a current demand cannot be obtained, our requirements will be as
follows:
(a) If this Company accepts a verbal update on the demand, we may hold an amount equal to
one monthly mortgage payment. This hold will be in addition to the verbal hold the lender
may have stipulated.
(b) If this Company cannot obtain a verbal update on the demand, we will either pay off the
expired demand, or wait for the amended demand, at our discretion.
(c) All payoff figures are verified at closing. If the customer's last payment was made within 15
days of closing, our Payoff Department may hold one month's payment to insure check has
cleared the bank (unless a copy of the cancelled check is provided, in which case there will
be no hold).
NOTE NO. 6: There are no conveyances affecting said land recorded within 6 months of the date
of this report.
Typist: es4
Date Typed: May 19, 2006 I January 22, 2007
Page 13
Exhibit B (Re\'. 11-17-04)
CALIFORNIA LAND TITLE ASSOCIATION
STANDARD COVERAGE I'OLICY-1990
EXCLliSIONS FROM COVERAGE
The following matters are e'\pressly excluded from the coverage of this policy and the C'ompcmy will not pay los~ or damage, costs, attorneys' fees or expenses which arise by reason of
I (a) Any law, ordinance or governmental regulation (including but not limited to building or zoning laws. ordinances. or regulations) restricting, regulating. prohibiting or relating to (i) the occupancy, usc
or enjoyment oft he land (ii) the character, dimensions or location of any improvement now or hereafter erected on the land (iii) a scpan1tion in ownership or a change in the dimensions or area of the
land or any parcel of which the land is or was a part. or (iv) environmental protl'Ction, or the eiTcct of any violation of these laws, ordinances or governmental regulations, e"Xceptto the extent that a
notice of the enli.)rcement thereof or a notice of a dclCct lien, or encumbrance resulting fl·om a violation or alleged violation a!Tecting the land has been recorded in the public records at Date..· of
Policy
(b) Any govcrnmcnt<ll police power not e.\cluded by (a) above. e:-.cept to the extent that a notice of the exercise thereof or notice ora defect, lien or encumbrance resulting from a violation or alleged
violation aiTecting the land has been recorded in the public records at Date of Policy
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 coverage any takint' which has occurred prior to Date of
Policy which would be binding on the rights of a purchaser for value without knowledge.
Defects, liens, encumbrances, adverse claims or other matters·
(a) whether or not recorded in the public records at Date of lloJicy, but 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 ond not disclosed in writing to th(.• Companv 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; or
(e) Resulting in loss or damage which would not h<1vc been sustained if the insured claimant had paid valut.' for the insured mortgage or for the estate or interest insured by this policy
Unenforceability oft he lien oft he insured mortgage because oft he inability or 1~1ilurc oft he insured at Date of Policy. or the inability or H1ilurc of any subsequent (Winer oft he indt~btedness to comply v .. ith
the applicable doing business laws oft he state in which the land is situated
Invalidity or unenforceability of the lien of the insured mortgage, or claim thereof~ which arises out of the transaction evidenced by the insured mortgage and is based upon usury or any consumer credit
protection or truth in lending law.
Any claim, which arises out of the transaction vesting in the insured the estate or interest insured by this policy or the transaction crenting the interest of the insured lender, by reason or the opermion of
federal bankruptcy, state insolvency or similar creditors' rights laws
EXCEPTIONS FROM COVERAGE-SCliEDliLE B, I' ART I
This policy does not insure ngainst loss or dnmage (and the Company will not pay costs, attorneys' fees or e"Xpenses) which arise by reason of:
I. Taxes or assessments which are not shown ns existing liens by the records of any taxing authority that levies taxes or assessments on real property or by the public records Proceedings by n public agency
which may result in ta"\es or assessments, or notices of such proceedings, whether or not shown by the records of such agency or by the public records
Any facts, rights, interests, or claims which arc not shown by the public records but which could be ascertained by an inspection of the land or which may be nsserted by persons in possession thereof
Easements, liens or encumbrances, or clnims thereo( which are not shown by the public records
Discrepnncies, conllicts in boundary lines, sh011agc in area, encroachments, or <1ny other facts which a correct survey would disclose, and which arc not shown by the public records
5. (a) Unpatented mining claims, (b) reservations or exceptions in patents or in Acts authorizing the issuance thcreo( (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
CLTA IIOMIWWNER'S POLICY OF TITLE INSURANCE (10/22/03)
ALTA HOMEOWNER'S POLICY OF TITLE INSURANCE
EXCLUSIONS
In addition to the Exceptions in Schedule B, You arc not insured against loss, costs, attorneys' fees, and expenses resulting ll·om
1 Governmental police power, and the existence or violation of any law or government regulation. This includes ordinances, laws and regulations concerning
building
zoning
c land use
d. improvements on the Land
land division
environmental protection
This Exclusion does not apply to violations or the enforcement of these matters if notice of the violation or enforcement nppears in the Public Records at the Policy Date.
This Exclusion does not limit the coverage described in Covered Risk 14, 15, 16, 17 or 24
The failure of Your existing structures, or any part of them, to be constructed in accordance with applicable building codes. This Exclusion does not apply to violations of building codes if notice of the
violation appears in the Public Records at the Policy Date.
The right to take the Land by condemning it, unless:
a notice of exercising the right appenrs in the Public Records at the Policy Date: or
the taking happened before the Policy date and is binding on You if You bought the Land without knowing of the tnking.
Risks:
a. that are created, allowed, or agreed to by You, whether or not they appear in the Public Records;
b. that are known to You at the Policy Date, but not to Us, unless they appear in the Public Records at the Policy Date;
c. that result in no loss to You; or
d that first occur after the Policy Date-this does not limit the coverage described in Covered Risk 7, 8d, 22, 23, 24 or 25.
Failure to pay value for Your Title
Lack of a right:
a. to any land outside the area specifically described and referred to in paragraph 3 of Schedule A; and
b in streets, alleys, or waterways that touch the land
This Exclusion does not limit the coverage described in Covered Risk 1 I or 18.
LIMITATIONS ON COVERED RISKS
Your insurance for the following Covered Risks is limited on the Owner's Coverage Statement as follows:
For Covered Risk 14, 15, 16 and 18, Your Deductible Amount and Our Maximum Dollar Limit of Liability shown in Schedule A
The deductible amounts and maximum dollar limits shown on Schedule A are as follows:
Covered Risk 14:
Covered Risk 15:
Covered Risk 16:
Covered Risk 18:
Your Deductible Amount
1% of Policy Amount or $2,500
(whichever is less)
I %1 or Policy Amount or $5,000
(whichever is less)
1%1 of Policy Amount or $5,000
(whichever i's less)
1%1 of Policy Amount or $2,500
(whichever is less)
Our Maximum Dollar
Limit of Liability
$10,000
$25,000
$25,000
$5.000
AMERICAN LAND TITLE ASSOCIATION
RESIDENTIAL TITLE INSliRANCE POLICY (6-1-87)
EXCLUSIONS
In addition to the Exceptions in Schedule B. you are not insmed against loss, costs, attorneys' fees. and expenses resulting from
I Governmental police power, and the existence or violation of any law or government regulation This includes building and zoning ordinances and also laws and regulations concerning:
Land use
Improvements on the land
Land division
Environmental protection
This exclusion does not apply to violntions or the enforcement of these matters which appear in the public records at Policy Date
This exclusion does not limit the zoning coverage described in items 1:2 and 13 of Covered Title Risks
The right to take the land by condemning it unless.
A notice of exercising the right appears in the public records on the Policy Dnte
The taking happened prior to the Policy Date and is binding on you if you bought the land without knowing oft he taking
Title Risks
That are created. allowed. or agreed to by you
That arc known to you. but not to us. on the Policy Date-unless they appeared in the Public Records
That result in no loss to you
That first affect your title a Her the Policy Date-this does not limit the labor and material lien coverage in ItemS of Covered Title Risks
Failure to pay value for your title.
Lack or a right.
To any land outside the area specilically described and rc!Crred to in Item:; of Schedule A
OR
In streets. alleys, or waterways that touch your land
This exclusion docs not limit the access coverage in Item 5 of Covered Title Risks
AMERICAN LAND TITLE ASSOCIATION LOAN POLICY (10-17-92)
WITII ALTA ENDORSEMI~NT-FOI~M I COVERAGE
EXCUISIONS FROM COVERAGE
The following matters are expressly excluded from the covc.;rage of this policy and the Company will not pay loss or damage. costs, attorney's fees or expenses which arise by reason of
I. (a) Any Ia\\, ordinance or governmental regulation (including but not limited to building and zoning laws, ordinances, or regulations) restricting, regulating, prohibiting or relating to (i) the occupancy,
usc or enjoyment of the land, (ii) the character. dimensions or location of any improvement now or hereafler erected nn the land; (iii) a separation in ownership or a change in the dimensions or area
ot'thc land or any parcel of which the land is or was a part; or (iv) environmental protection, or the e!Tect or any violation of these laws, ordinances or governmental regulations. except to the extent
that a notice oft he enforcement thereof or a notice of a defect, lien or encumbrance resulting from a violation or alleged violation affecting the land has been rec,,)rded in the public records at Date of
Policv.
(b) Any governmental police power not excluded by (a) above. except to the extent that a notice of the exercise thereof or a notice of a defect, lien or encumbrance resulting from a violation or alleged
violation e!Tecting the land ha~ been recorded in the public records at Date of Policy
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 coverage any takin£ which has occurred prior to Date of
Policy which would be binding on the rights of a purchaser for value without knO\vledgc
3. Delt::cts. liens. encumbrances, adverse claims or other matters:
(a) created, sutl'ered, 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 (except to the extent that this policy insures the priority of the lien of the insured mortgage over any statutory li1m for services, labor or material or to
the extent insurance is alTorded herein as to assessments for street improvements under construction or completed at Date or Policy), or
(e) resulting in Joss or damage which would not have been sustained if the insured claimant had paid value for the insured mortgage
4. Unenforceability oft he lien of the insured mortgage because oft he inability or failure of the insured at Date of Policy, or the inability or H1ilure of any subsequent owtwr of the indebtedness, to comply with
applicable doing business Jaws oft he state in which the land is situated
5. Invalidity or unenforceability oft he lien of the insured mortgage. or claim thereoC which arises out of the transaction evidenced by the insured mortgage and is based upon usury or any consumer credit
protection or truth in lending law.
Any statutory lien for services, labor or materials (or the claim of priority of any statutory lien for services, labor or materials over the lien of the insured mortgage) 11rising from an improvement or work
related to the land which is contracted for and commenced subsequent to Date of Policy and is not financed in whole or in part by proceeds of the indebtedness secLwed by the insured mortgage ~hich at
Date of l>olicv the insured has advanced or is obligated to advance
Any claim wi1ich arises out of the transaction crea'ting the interest of the mortgagee insured by this Policy, by reason of the operation of federal bankruptcy, state insolvl.!ncy, or similar creditors' rights laws.
that is based on:
(i) the transaction creating the interest of the insured mortgagee being deemed a fraudulent conveyance or fraudulent transfer, or
(ii) the subordination of the interest of the insured mortgagee as a result of the application of the doctrine of equitable subordination: or
(iii) the transaction creating the interest of the insured mortgagee being deemed a pre
(a) to timely record the instrument oftranster; or
(b) of such recordation to impart notice to a purchaser for value or a judgment or lien creditor.
The above policy forms may be issued to afford either Standard Coverage or Extended Coverage. In addition to the above Exclusions from Coverage, the Exceptions fn)tn Coverage in a Standard Coverage
policy will also include the following General Exceptions:
EXCEPTIONS FROM COVERAGE
This policy does not insure against loss or damage (and the Company will not pay costs, attorneys' fees or expenses) which arise by reason of
I. Taxes or assessments which are not shown as existing liens by the records of any taxing authority that levies taxes or assessments on real property or by the public records
Proceedings by a public agency which may result in taxes or assessments, or notices of such proceedings, whether or not shown by the records of such agency or by the pubic records
2. Any facts, rights, interests or claim which are not shown by the public records but which could be ascertained by an inspection of the land or which may be asserted by persons in possession thereof
3. Easements. liens or encumbrances, or claims thereof, which are not shown by the public records
4. Discrepancies, conllicts 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
(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
AMERICAN LAND TITLE ASSOCIATION OWNER'S POLICY (10-17-92)
EXCLliSIONS FROM COVERAGE
The following matters are expressly excluded from the coverage of this policy and the Company will not pay Joss or damage, costs, attorneys' fees or expenses which arise by reason of
1. (a) Any law, ordinance or governmental regulation (including but not limited to building and zoning laws, ordinances. or regulations) restricting, regulating, prohibiting or relating to (i) the occupancy,
use or enjoyment of the land; (ii) the character, dimensions or location of any improvement now or hereafter erected on the land. (iii) a separation in ownership or a change in the dimensions or area
of the land or any parcel of which the land is or was a part. or (iv) environmental protection, or the effect of any violation of these Jaws, ordinances or governmental regulations. except to the extent
that a notice oft he enforcement thereof or a notice of a defect, lien or encumbrance resulting tl·om a violation or alleged violating affecting the land has been recorded in the public records at Date of
Policy
(b) Any governmental policy power not excluded by (a) above, except to the extent that a notice of the exercise thereof or a notice of a defect, lien or encumbrance resulting from a violation or alleged
violation affecting the land has been recorded in the public records at Date of Policy
2. Rights of eminent domain unless notice of the exercise thereof has been recorded in the public records at Date of Policy, but not excluding from coverage any taking which has occurred prior to Date of
Policy which would be binding on the rights of a purchaser fOr value without knowledge
-'· 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; or
(e) resulting in loss or damage which would not have been sustained if the insured claimant had paid value for the estate or interest insured by this policy
4 Any claim, which arises out of the transaction vesting in the insured the estate or interest insured by the policy, by reason of the operation of federal bankruptcy. state insolvency. or similar creditors' rights
laws, that is based on:
(i) the transaction creating the estate or interest insured by this policy being deemed a fraudulent conveyance or fraudulent transfer; or
(ii) the transaction creating the estate or interest insured by the policy being deemed a preferential transfer except where the preferential transfer results hom the t3ilure:
(a) to timely record the instrument of transfer; or
(b) of such .recordation to impati notice to a purchaser tOr value or a judgment or lien creditor
The above policy forms may be issued to atlOrd either Standard Coverage or Extended Coverage. Jn addition to the above Exclusions from Coverage, the Exceptions fi·om Coverage in a Standard Coverage
Policy will also include the t01\owing General Exceptions.
EXCEI'TIONS FROM COVERAGE
This policy does not insure against loss or damage (and the Company will not pay costs. attorneys' fees or expenses) which arise by reason of:
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
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 pubic records
2 Any t3cts, rights. interests or claim which are not shown by the public records but which could be ascertained by an inspection of the land or which may be asserted by persons in possession thereof
Easements, liens or encumbrances, or claims thereof which are not shown by the public records
4 Discrepancies, conflicts in boundary lines, sho•iage in area. encroachments, or any: other f~1cts which a correct survey would disclose, and which are not shown by the public records
5. (a) Unpatented mining claims, (b) reservations or exceptions in patents or in Acts authorizing the issuance thereoC (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
ALTA F:XI'AN[)lm CO\' ImAGE IU~SII)ENTIAL LOAN I'OLICY (10/13/01)
EXCLllSIONS FIWM CO\'I.:RAGE
The following matters are expressly excluded from the coverage of this policy and the Company will not pay loss or damage, costs, attorneys' tees or e\penses which arise by reason of
I (a) Any law, ordinance or governmental regulation (including but not limited to building and zoning laws, ordinances, or regulations) restricting, regulating, prohibiting or relating to (i) the occupancy,
usc, or enjoyment of the Land~ (ii) the character. dimensions or location ofcmy improvement now or hercafler erected on the Land; (iii) n separation in ownership or a change in thL' dimensions or
areas oft he Land or any parcel of which the Land is or WHs a pa11, or (iv) environmental protection, or the etlCct of any violation of these laws, ordinances or governmental regulations. except to the
extent that a notice of the enforcementthercol'or a notice of a defect, lien or encumbrance resulting from a violation or a!lc!.!,cd violation aiTcctilH.!. the Land has been recorded in the Public Records at
Date of Policy. This exclusion does not limit the coverage provided under Covered Risks 12, 13, 14. and 16 of this policy ... .__
7.
9.
(b) Any governmental police power not excluded by (a) above, except to the extent that a notice of the exercise thereof or a notice of a defect, lien or encumbrance resulting n·om a violation or alleged
violation alTecting the Land has been recorded in the Public Records at Date of Policy This exclusion docs not limit the coverage provided under Covenxl Risks 12. IJ, 14. and 16 of this Policy.
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 coverage any taking which has occurred prior to Date
of Policy which would be binding on the rights of a purchaser for value without Knowledge
Defects, liens, encumbrances, adverse claims or other matters:
(a) created, sutTered, assumed or agreccl to by the Insured Claimant;
(b) not Known to the Company, not recorded in the Public Records at Date of Policy, but Known to thl' 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)
(d)
(e)
resulting In no loss or damage to the Insured Claimant;
attaching or created subsequent to Date of Policy (this paragraph docs not limit the coverage provided under Covered Risks 8, I 6, 18, 19, 20, 21. 22, 23. 24, 15 and 26), or
resulting in loss or damage which would not have been sustained if the insured Claimant had paid value for the Insured Mortgage
lJnenforceability of the lien of the Insured Mortgage because oft he inability or failure oft he Insured at Date of Policy, or the inability or tbilure of any subsequent owner oft he indebtedness, to
comply with applicable doing business Jaws of the state in which the Land is situated.
Invalidity or unenforceability of the lien oft he Insured M01tgage, or claim thereof: which arises out of the transaction evidenced by the lnsured M01tgage and is based upon usury, except as provided
in Covered Risk 27, or any consumer credit protection or truth in lending lavv
Real property taxes or assessments of any governmental authority which become a lien on the Land subsequent to Date of Policy. This exclusion does not limit the coverage provided under covered
Risks 7, 8(e) and 26.
Any claim of invalidity, unenforceability or lack of priority oft he lien oft he Insured Mmtgage as to advances or modifications made after the Insured has Knowkdgc that the vestee shown in
Schedule A is no longer the owner oft he estate or interest covered by this policy. This exclusion does not limit the coverage provided in Covered Risk 8.
Lack of priority oft he lien oft he lnsured Mortgage as to each and every advance made a tier Date of Policy, and all interest charged thereon. over liens, encumbrances and other matters alfecting the
title, the existence of which are Known to the Insured at
(a) The time of the advance; or
(b) The time a moditication is made to the terms of the Insured Mortgagl' which changes the rate of interest charged, if the rate of Interest is greater as a result of the modilicationthan it would have been
before the modification. This exclusion docs not limit the covcra'gc ... providcd in C'~lVcred Risk 8. .__
The failure oft he residential structure. or any pmtion thereof to have been constructed before, on or atler Date of Policy in accordance with applicable building codes This exclusion does not apply
to violations of building code~ if notice of the violation appears in the Public Records at Date of Policy
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