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Home My WebLink About1982-060 Escrow Docs - ToneyCRATER TITLE ll SURANCE CO. TITLE INSURANCE - E8CROWS CITY OF ASHLAND Date October 6, 1982 Escrow # 54113 RE: TONEY/CITY OF ASHLAND The above numbered escrow has been completr~d at~d we are pleased to enc]ose the following: (~ ) ( ) ( ) Escrow Closing Statement Check in the amount of $ Warranty Deed Po]icy of Title Ins,trance Copy of Addendum to Earnest Money Thank yOtl for tl~e opportunity of b<~ing of serw[ce to you. Very truly yours, Escrow Officer CRATER TITLE INSURANCE CO. Serving all of Jackson County 604 West Main St P.O. Box 336 485 East Main St. Phone 776-4559 Phone 482-4006 Medford, Oregon 97501 Ashland, Oregon 97520 Please examine this statement at once. If no error is reported in 15 days the account will be considered correct and escrow closed. Failure to report error within 15 days shall constitute acceptance of this statement and will be considered an acknowledgement by parties of receipt of all papers and monies due them and a full release of above title company from all liability in connection with handling of said escrow. [Y CONSTRUCTION CTI #54113 BUYER CITY OF ASHLAND DESCRIPTION SALE/PURCHASE PRICE t DEPOSITS -I ....... DEPOSITS RETAINED Direct to Seller LOAN COSTS App. fee T.R. C.R. Int. Partial Reconveyance TITLE POLICY PREMIUM MORTGAGEES POLICY PREM. ESCROW FEE 1/2 RECORDING ATTORNEY'S FEE ~ R-~)KER'S COMISSION P.a~yoff 1981-82 Real Pro2. Taxes REAL PROP. TAXES Prorate IRRIGATION TAXES CITY LIENS PRO-RC, TE FIRE INS. BANK ESCROW FEE PAYOFF MTG/CTR. ASSUMPTION OF EXISTING ASSUMPTION FEE PRO-RATE iNTEREST PRO-RATE RENTS Payoff Note to U;S Bank to 10/6~ ¸-4 PROCEEDS TOTAL TO COLLECT REFUND TOTAL DEBIT CREDIT This CERTIFIES that the original of this CLOSING STATEMENT was ~ [~ r , [~) Buyer named above, L_J mailed delivered to the L Seller CRATER.71TL E INSURANC~ CO. ./..t.;:.-.- ..- .~- · /.. /_~' fd_ ~ ~¥=~d : ~/ ................ Escrow Officer W^RR^,,Y DEED CRATER TITLE INSURANCE CO. ~' O. ~0× 336, 604 W. ~ "T., ~0~. 0~0'~ 8Z' ::143S$ JOSEPHINE COUNTY TITLE CO. ~' O. ~0× ~, ~0~ ~.~.. O~ ~T., O~,~S ~SS, 0~ KNOW ALL MEN BY THESE PRESENTS, That ...... .D..E...N...~..~......T..Q~.E...Y....d`b.~...D.~`N.I`~....TD.NEY....C~xI~.C~ .................................................................................................................................................... , hereinafter called the grantor, for consideration hereinafter stated to the grantor paid by ....... ~_c_ ~L:~_._l___q.o_ ~a_ ~__ign___o_ ~___..~_ ~._ ~___~__t__e o_~__O~.e_g_o_n_. ................................................... ...................................................................................................................................................... , hereinafter called the grantee, does hereby grant, bargain, sell and convey unto the said grantee and grantee's heirs and assigns, thatcertain rea[ property, with the tenements, hereditaments and appurtenances thereunto belonging or appertaining, situated in the County of ....................... .J...a...c..k...s..o...n. ................................. and State of Oregon, bounded and described as follows, to-wit: AS SHOW/~ ON E:~IIBIT "A" ATTACHED HERETO, AND BY THIS REFERENCE MADE A PART HEREOF AS THOUGH SET OUT HEREIN IN FULL. To Have and to Hold the above described and granted premises unto the said grantee and grantee's heirs and assigns forever. And said grantor hereby covenants to and with said grantee and grantee's heirs and assigns, that grantor is lawfully seized in fee simple of the abov~ granted premises, free /rom all encumbrances ..~EPT, liens, covenants, and encumbrances of reco~d,..or apparent on the grpLm, d_and ~he ~82:83 ~eal property .taxes ......... and that grantor will and grantor's heirs, executors and administrators shall warrant and forever defend the above granted premises and every part and parcel thereat against the lawful claims and demands of all persons whomsoever. The true and actual consideration paid for this transfer, stated in terms of dollars, is $ 53;500.00 In construing this deed and where the context s,o/rfq~uir?s, the singular includes the plural. WITNESS grantor's hand and seal this '~'-~ day of Octobe~ , 19.82 ... ~ k '>:.~ .......... : .................. !..::.:.: ........... : ...... =CSEAU) -Di~Ni'8'"T~-~¥-3:b-a Dr~ZS TO~r,¥ C0~STRUC,~O~ ............................................................................................ ::..(SEAL) STATE OF OREGON t Counfy Olc ............ .J. ~.q_kp 9~ ..................~' ss ...................................................................................... (SEAL) ................................................................................................ (SEAL) ....... .Q c.t.o, bez ........... .~..~/./x,~.: ....... 19..82 Denzs Toney. dba Denzs Toney. -B'EFO~F¥1?/~.',PERSONALLY appeared the above named ............ [ .............................. ! .............................. : go~$ tr~'tion ................... .......... ~..~..%..,:,.~*. .... ~ ...... = ...................................................................................................................... add o¢~.~bwJCdge&:-~e foregoing Instrument to be ._h. 1.8. voluntary act and deed. · , / ~olory Public {or Ore~n (SEAl)' ' ~ ~7 Commission expires: ....... State of Oregon ~ County of Ja,~q,d,~e I ss. I hereby certify that the within instrument of writing was received and filed at ........ o'clock ...... M. the ............ day of ........................ 19 ...... and is recorded in .............................. Records for Jame,ld,,dem County, Oregon. ........................................ County Clerk By ................................ Deputy R~URN TO Mail tax statement to Grantee at 20 E. Main Street Ashland, Oregon 97520 ~JOSEPHINE COUNTY TITLE (0. ~,. o. ~ox '=, ~o? ~.~.. ~,:,~ sT., o~,,~T, ~'.,~, o~oo~ CRATER TITLE INSURANCE CO. ~,. o. ~,o~ =~,-~04'~. ~ ~,T.,- ~.~)~'o~, o~.oo, EXHIBIT "A" A tract or parcel of land situated in the Northwest quarter of Section 23, Township 39 South, Range 1 East ~jf the Willamette Meridian, Jackson County, Oregon and being more fully described as follows: Commencing at a found 1 inc[) galvanized iron pipe with a bronze cap situated at the quarter corner common to Sections 14 and 23, said Township and Range; thence South 1324.03 feet (deed recorG South, 1324.2t feet) and West, 694.39 feet (deed record West, 693.72 feet) to a point of intersection of the Southerly boundary line of Briggs Subdivision, as now recorded, extended Easterly, with the Westerly right of way of Tolman Creek Road, as said t'i. ght of way has been established by the centerline monumentation, as shown on Recorded Survey No. 4028; thence South 00° 06' 17" East (deed record South 00° 08' 00" East, 664.78 feet) along the Westerly right of way of said road, 664.94 feet to a point i~ that Boundary Line by Agreement recorded as Document No. 73-]..0804 of the Official Records of Jackson County, Oregon, which bears North 89° 58' 19" West (deed record West) 0.07 foot from a found 5/8 inch iron pin marked with "RLS 638"; thence continuing South 00° 06' 17" East along said road right of way, 60.00 feet to a 5/8 inch iron pin for the True Point of 13eginning; thence Leaving said Westerly right of ~ay, North 89° 58' i9" West, 944.05 feet to a 5/8 inch iron pin; thence South 00° 08' 11" East and parallel to the Boundary Line by Agreement recorded as Document No. 73-10803 of the Official Records of Jackson County, Oregon, 600.755 feet to a 5/8 inch iron pin situated in the East-West centerline of Section 23, said Township and Range; thence North 89° 42' 40" West along said East-West centerline, 360.01 feet to a 5/8 inch iron pin situated at the Southerly terminus of the last hereinabove referred to Boundary Line by Agreement; thence l~i~aving said East-West centerli~e of said Section 2.3, North 00° 08' ii" West (deed record No,-tn 00° 10' 17" West) along that Boundary Line by Agreement recorded as Document: No. 73-10803 of the Official Records of Jackson County, Oregon 4.92 feet to a found 5/'8 inch iron pi.n Witness Corner; thence continuin~ along said agreement line, Nortt] 00° 08' 11" West, 654.20 feet to a found 5/8 inch iron pin situate:'] in that Boundary Line by Agreement recorded as Document No. 73-10504 of the Official Records of Jackson County, Oregon; thence South 89'~ 58' 19" East (deed record East) along the last recited boundary line by agreement, 1304.09 feet to a point in the Westerly right of way of Tolman Creek Road, as hereinabove set forth, which bears North 89° 58' !9" West (deed ~.ecord West) 0.07 foot f~om a found 5/8 inch iron pin !harked with "RLS 638"; thence South 00° 06' 17" East (deed record South 00° 08' 00" East, 60.00 feet) 60.00 feet to the point of beginnin~'~. TOGETHER WITH an easement for the right of ingress and egress over and across a strip of land, variable in width, and being more fully described as follows: B~ginning at a 5/8 inch iron pin situated at the intersection of the Westerly right of way of Tolman Creek Road, as resurveyed and monumented, with the Easterly terminus of that Boundary Line by Agreement recorded as Document No. 73-10804 of the Official Records of Jackson County, Oregon from which the quarter corner common to Sections 14 and 23, Township 39 South, Range 1 East of t~e Willamette Meridian, bears North 19° 112' 50" East, 2106.29 feet: thence South O0° 06' 17" East along the Westerly right of way of Tolman Creek Road as herein set forth, 55.89 feet; thence leaving said Westerly right of way, North 76° 52' 10" West, 75.74 feet; thence along the arc of EXHIBIT "A" CONTINUED .... a 90.00 foot radius curve to the left (the central angle is 10° 22' 33" and the long chord bears North 82° 03' 26.5" West, 16.275 feet) 16.30 feet; thence North 87° 14' 43" West, 443.20 feet; thence along the arc of a 165.00 foot radius curve to the right (the central angle is 35° 04' 35" and the long chord bears North 69° .42' 25.5" West, 99.445 feet) 101.01 feet; thence North 52° 10' 08" West, 85.19 feet; thence along the arc of a 100.00 foot radius curve to the left (the central angle is 43° 45' 24" and the long chord bears North 74° 02' 50" West, 74.53 feet) 76.37 feet; thence South 84° 04' 28" West, 63.85 feet; thence along the arc of a 355.00 foot radius curve to the right (the central angle is 10° 58' 39" and the long chord bears South 89° 33' 47.5" West, 67.915 feet) 68.02 feet; thence North 84° 56' 53" West, 55.84 feet; thence along the arc of a 20.00 foot radius curve to the left {the central angle is 105° 56' 28" and the long chord bears South 42° 04' 53" West, 31.935 feet) 36.98 feet; thence South 10° 53' 21" East, 160.56 feet; thence along the arc of a 255.00 foot radius curve to the left (the central angle is 15° 26' 53" and the long chord bears South 18° 36' 47.5" East, 68.545 feet) 68.75 feet; thence South 26° 20' 14" East, 58.79 feet; thence along the arc of a 60.00 foot radius curve to the right (the central angle is 214° 13' 24" and the long chord bears South 80° 46' 28" West, 114.69 feet) 224.335 feet; thence North 07° 53' 10" East, 72.65 feet; thence along the arc of a 120.00 foot radius curve to the left (the central angle is 18° 46' 31" and the long chord bears North 01° 30' 05.5" West, 39.145 feet) 39.32 feet; thence North 10° 53' 21" West, 174.42 feet; thence along the arc of an 80.00 foot radius curve to the right (the central angle is 105° 56' 28" and the long chord bears North 42° 04' 53" East, 127.73 feet) 147.92 feet; thence South 84° 56' 53" East, 55.84 feet; thence along the arc of a 295.00 foot radius curve to the left (the central angle is 10° 58' 39" and the long chord bears North 89° 33' 47.5" East, 56.435 feet) 56.52 feet; thence North 84° 04' 28" East, 63.85 feet, thence along the arc of a 160.00 foot radius curve to the right (the central angle is 43° 45' 24" and the long chord bears South 74° 02' 50" East, 119.245 feet) 122.19 feet; thence South 52° 10' 08" East, 85.19 feet; thence along the arc of a 105.00 foot radius curve to the left (the central angle is 35° 04' 35" and the long chord bears South 69° 42' 25.5" East, 63.28 feet) 64.28 feet; thence South 87° 14' 43" East, 443.20 feet; thence along the arc of a 150.00 foot radius curve to the right (the central angle is 10° 22' 33" and the long chord bears South 82° 03' 26.5" East, 27.125 feet) 27.165 feet; thence South 76° 52' 10" East, 61.63 feet to a point in the Westerly right of way of Tolman Creek Road, as resurveyed and monumented; thence South 00° 06' 17" East along said right of way, 5.75 feet to the point of beginning. RESERVING therefrom, an easement for the purpose of ingress and egress over and across that tract or parcel of land hereinabove described and being situated within that private road easement described immediately hereinabove. ALSO, emergency vehicles i.e. rescue, ambulance, police and fire trucks shall have the right of ingress and egress over and across the hereinabove described private road easement. Jackson County, Oregon Recorded OFFICIAL RECORDS ' C WALDENE TEB. R¥ LERK and RECORDEit BY~~,~-~ Deout, / Oregon Land Tille Association Slandard ('o~erage Polic) 4i ,& ME R I0 Premium $ 252.00 POLICY OF TITLE INSURANCE ISSUED BY First American Title Insurance Company o£ Oregon An assumed business name of TITLE INSURANCE COMPANY OF OREGON an Oregon corporation, hereinafter called the Company, for a valuable consideration paid for this policy of title insurance, the number, date, and amount of which are shown in Schedule A, does hereby insure the parties named as Insured in Schedule A, the heirs, devisees, personal representatives of such Insured, or if a corporation, its successors by dissolution, merger or consolidation, against direct loss or damage not exceeding the amount stated in Schedule A, together with costs, attorneys' fees and expenses which the Company may be obligated to pay as provided in the Conditions and Stipulations hereof, which the Insured shall sustain by reason of: 1. Title to the land described in Schedule A being vested, at the date hereof, otherwise than as herein stated; or 2. Unmarketability, at the date hereof, of the title to said land of any vestee named herein, unless such unmarketability exists because of defects, liens, encumbrances, or other matters shown or referred to in Schedule B; or Any defect in, or lien or en- cumbrance on, said title existing at the date hereof, not shown or referred to in Schedule B, or excluded from coverage in the Schedule of Exclusions from Coverage; or 3. Any defect in the execution of any mortgage or deed of trust shown in Schedule B securing an indebtedness, the owner of which is insured by this policy, but only insofar as such defect affects the lien or charge of such mortgage or deed of trust upon said land; or 4. Priority, at the date hereof, over any such mortgage or deed of trust, of any lien or encumbrance upon said land, except as shown in Schedule B such mortgage or deed of trust being shown in the order of its priority. all subject, however, to the Schedule of Exclusions from Coverage and the Conditions and Stipulations hereto an- nexed, which, together with Schedules A and B are hereby made a part of this policy. In witness w~ereof, TITLE INSURANCE COMPANY OF OREGON has caused its corporate name and seal to be hereunto affixed and authenticated by the facsimile signatures of its President and Secretary, provided this policy is valid only when countersigned by a duly authorized officer or agent of the corporation. dba FIRST AMERI( RANCE COMPANY OF OREGON Countersigned BY ATTEST PRESIDENT SECRETARY TI 12 SCHEDULE OF EXCLUSIONS FROM COVERAGE This policy does not insure against loss or damage by reason of the following: 1. Any law, ordinance or governmental regulation (including but not limited to building and zoning ordinances) restricting or regulating or prohibiting the occupancy, use or enjoyment of the land, or regulating the character, dimensions, or location of any improvement now or hereafter erected on said land, or prohibiting a separation in ownership or a reduc- tion in the dimensions or area of any lot or parcel of land. 2. Governmental rights of police power or eminent domain unless notice of the exercise of such rights appears in the public records at the date hereof. 5. Title to any property beyond the lines of the land expressly described in Schedule A or title to streets, roads, avenues, lanes, ways or waterways on which such land abuts, or the right to maintain therein vaults, tunnels, ramps or any other structure or improvement; or any rights or easements therein unless this policy specifically provides that such property, rights or easements are insured, except that if the land abuts upon one or more physically open streets or highways this policy insures the ordinary rights of abutting owners for access to one of such streets or highways, unless otherwise excepted or excluded herein. 4. Defects, liens, encumbrances, adverse claims against the title as insured or other matters (1) created, suffered, assumed or agreed to by the Insured claiming loss or damage; or (2) known to the Insured Claimant either at the date of this policy or at the date such Insured Claimant acquired an estate or interest insured by this policy and not shown by the public records, unless disclosure thereof in writing by the Insured shall have been made to the Company prior to the date of this policy; or (3) resulting in no loss to the Insured Claimant; or (4) attaching or created subsequent to the date hereof. 5. Loss or damage which would not have been sustained if the Insured were a purchaser or encumbrancer for value without knowledge. 6. Usury or claims of usury. 7. "Consumer credit protection," "truth-in-lending," or similar law. CONDITIONS AND STIPULATIONS 1. DEFINITION OF TERMS The following terms when used in this policy mean: (a) "land": the land described, specifically or by reference, in Schedule A and impro¥c~nents affixed thereto which by law constitute real prot~erty; (b) "public records": those records which impart constructive notice of mat- ters relating to said land; (c) "knowledge": actual knowledge, not constructive knowledge or notice which may be imputed to the Insured by reason of any public records; (d) "date": the effective date; (e) "mortgage": mortgage, deed of trust, trust deed, or other security in- strument; and (f) "insured"z the party or part,es named as Insured, and if the owner of the indebtedness secured by a mortgage shown in Schedule B is named as an Insured in Schedule A, the Insured shall include (1) each successor in interest in ownership of such indebtedness, (2) any such owner who acquires the estate or interest referred to in this policy by fore- closure, trustee's sale, or other legal manner in satisfaction of said indebted- ness, and (3) any federal agency or in- strumentality which is an insurer or guarantor under an insurance contract or guaranty insuring or guaranteeing said indebtedness, or any part thereof, whether named as an Insured herein or not, subject otherwise to the provisions hereof. 2. BENEFITS AFTER ACQUISITION OF TITLE If an insured owner of the indel~tedness secured by a mortgage described in Schedule B'acquires said estate or interest, or any part thereof, by foreclosure, trustee's sale, or other legal manner in satisfaction of said indebtedness, or any part thereof, or if a federal agency or instrumentality acquires said estate or interest, or any part thereof, as a conse- quence of an insurance contract or guar- anty insuring or guaranteeing the indebt- edness secured by a mortgage covered by this policy, or any part thereof, this policy shall continue in force in favor of such Insured, agency or instrumentality, subject to all of the conditions and stipulations hereof. 3. DEFENSE AND PROSECUTION OF ACTIONS~NOTICE OF CLAIM TO BE GIVEN BY THE INSURED (a) The Company, at its own cost and without undue delay shall provide (1) for the defense of the Insured in all litigation consisting of actions or pro- .ceedings commenced against the Insured, or defenses, restraining orders, or in- junctions interposed against a foreclosure or sale of the mortgage and indebtedness covered bv this policy or a sale of the estate or (merest in said land, or (.2) for such action as may be appropriate to establish the title of the estate or interest or thc lien of the mortgage as insured, which litigation or action in any of such events is founded upon an alleged defect, lien or encu~nbrance insured against by this policy, and ~nay pursue any litigation to final determination in the court of last resort. (b) In case any such action or pro- ceeding shall be begun, or defense inter- posed, or in case knowledge shall come to the Insured of any claim of title or interest which is adverse to the title of the estate or interest or lien of the mort- gage as insured, or which might cause loss or damage for which the Company shall or may be liable by virtue of this policy, or if the Insured shall in good faith contract to sell the indebtedness secured by a mortgage covered by this policy, or, if an Insured in good faith leases or contracts to sell, lease or mort- gage the same, or if the successful bidder at a foreclosure sale under a mortgage covered by this policy refuses to purchase and in any such event the title to said estate or interest is rejected as unmarket- able, the Insured shall notify the Com- pany thereof in writing. If such notice shall not be given to the Company within ten days of the receipt of process or pleadings or if the Insured shall not, in writing, promptly notify the Company of any defect, lien or encumbrance in- sured against which shall come to the knowledge of the Insured, or if the In- sured shall not in writing, promptly notify the Company of any such rejection by reason of claimed unmarketability of title, then all liability of the Company in regard to the subject matter of such action, proceeding or matter shall cease and terminate; provided, however, that failure to notify shall in no case prejudice the claim of any Insured unless the Com- pany shall be actually prejudiced by such failure and then only to the extent of such prejudice. (c) The Company shall have the right at its own cost to institute and prosecute any action or proceeding or do any other act which in its opinion may be necessary or desirable to establish the title of the estate or interest or the lien of the mortgage as insured; and the Com- pany may take any appropriate action under the terms of this policy whether or not it shall be liable thereunder and shall not thereby concede liability or waive any provision of this policy. (d) In all cases where this policy permits or requires the Company to prosecute or provide for the defense of any action or proceeding, the Insured shall secure to it the right to so prosecute or provide defense in such action or pro- ceeding, and all appeals therein, and permit it to use, at its option, the name of the Insured for such purpose. Whenever requested by the Company the Insured shall give the Company all reasonable aid in any such action or proceeding in effecting settlement, securing evidence, obtaining witnesses, or prosecuting or defending such action or proceeding, and the Company shall reimburse the Insured for any expense so incurred. 4. NOTICE OF LOSS--LIMITATION OF ACTION In addition to the notices required under paragraph 3 (b), a statement in writing of any loss or damage for which it is claimed the Company is liable under this policy shall be furnished to the Com- pany within sixty days after such loss or damage shall have been determined and no right of action shall accrue to the Insured under this policy until thirty days after such statement shall have been furnished, and no recovery shall be had by the Insured under this policy unless action shall be commenced thereon within five years after expiration of said thirty CONDITIONS AND STIPULATIONS (Continued and Concluded" Fr~ Reverse Side of Policy Fac~! day period. Failure ti) furnish such state- ment of loss or damage, or to commence such action within the time hereinbefore specified, shall be a conclusive bar against maintenance by the Insured of any action under this policy. 5. OPTION TO PAY, SETTLE OR COMPRO- MISE CLAIMS The Company shall have the option to pay or settle or compromise for or in the name of the Insured any claim insured against or to pay the fuli amount of this policy, or, in case loss is claimed under this policy by the owner of the indebted- ness secured by a mortgage covered by this policy, the Company shall have the option to purchase said indebtedness; such purchase, payment or tender of payment of the full amount of this policy, together with all costs, attorneys' fees and expenses which the Company is obligated hereunder to pay, shall termi- nate all liability of the Company here- under. In the event, after notice of claim has been given ti) the Company by the Insured, the Company oilers to purchase said indebtedness, the owner of such indebtedness shall transfer and assign said indebtedness and the mortgage secur- ing the same to the Company upon payment of th~ purchase pr~te. 6. PAYMENT OF LOSS ia) Tilt' liability of thc' Company under this policy shall in no case exceed, in all, the actual loss of the Insured and costs and attorneys' fees which the Com- pany may bc obligated hereunder to pay. (b) The Company w~ll pay, in addi- tion ti) any loss insured against by this policy, all costs ,reposed upon the In- sured m litigation carried on by the Company for the Insured, and all costs and attorneys' fees m litigation carried on by the Insured with tile written authorization of the Company. (c) No claim for damages shall arise or be maintainable under this policy if the Company, after having received notice of an alleged defect, lien or en- cumbrance not excepted or excluded herein removes such defect, lien or en- cumbrance within a reasonable time after receipt of such nonce, or (2) for liability voluntarily assumed by the Insured ~n settling any claim or suit without written consent of the Company, or (3) in the event the title is re}cited as un- marketable because of a defect, lien or encumbrance not excepted or excluded in this policy, until there has been a final determination by a court of com- petent }urisdiction sustaining such re- iection. id) All payments under this policy, except payments made for costs, at- torneys' fees and expenses, shall reduce the amount of the insurance pro tanto and no payment shall be made without producing this policy for endorsement of such payment unless the policy be lost or destroyed in which case proof of such loss or destruction shall be fur- nished to the satisfaction of the Com- pany; provided, however, if the owner of an indebtedness secured by a mortgage shown in Schedule B is an Insured herein then such payments shall not reduce pro canto the amount of the in- surance afforded hereunder as to such Insured, except to the extent that such payments reduce the amount of the indebtedness secured by such mortgage. Payment in full by any person or vol- untary satisfaction or release by the Insured of a mortgage covered by this policy shall terminate all liability, of the Company to the insured owner of the indebtedness secured by such mortgage, except as provided in paragraph 2 hereof. (e) When liability has been definitely fixed in accordance with the conditions of this policy the loss or damage shall be payable within thirty days thereafter. 7. LIABILITY NONCUMULATIVE It is expressly understood that the amount of this policy is reduced by any amount th~ Company may pay under any policy insuring the validity or priority of any mortgage shown or referred to in Schedule B hereof or any mortgage here- after executed by the Insured which is a charge or lien on the estate or interest described or referred to in Schedule A, and the amount si) paid shall be deemed a payment to the Insured under this policy. The provisions of this paragraph num- bered 8 shall not apply to an Insured owner of an indebtedness secured by a mortgage shown in Schedule B unless such lnsured acqoires title to said estate or interest in satisfaction of said in- debtedness or any part thereof. 8. COINSURANCE AND APPORTIONMENT ia) In the event that a partial loss occurs after the Insured makes an improvement subsequent to the date of this policy, and only in that event, the Insured becomes a coinsurer to the extent hereinafter set forth. If the cost of the improvement ex- ceeds twenty per centum of the amount of this policy, such proportion only of any partial loss established shall be borne by the Company as one hundred twenty per centum of the amount of this policy bears to the sum of the amount of this policy and the amount expended for the improvement. The foregoing provisions shall not apply to costs and attorneys' fees incurred by the Company in prose- cuting or providing for the defense of actions or proceedings, in behalf of the Insured pursuant to the terms of this policy or to costs imposed on the Insured in such actions or proceedings, and shall apply only to that portion of losses which exceed in the aggregate ten per cent of the face of the policy. Provided, however, that the foregoing coinsurance provisions shall not apply to any loss arising out of a lien or encum- brance for a liquidated amount which existed on the date of this policy and was not shown in Schedule B; and provided further, such coinsurance provisions shall not apply to any loss if, at the time of the occurance of such loss, the then value of the premises, as so improved, does not exceed one hundred twenty per centum of the amount of this policy. (b) If the land described or referred to in Schedule A is divisible into separate and noncontiguous parcels, or if con- tiguous and such parcels are not used as one single site, and a loss is established affecting one or more of said parcels but not all, the loss shall be computed and settled on a pro rata basis as if the face amount of this policy was divided pro rata as to the value on the date of this policy of each separate independent parcel to the whole, exclusive of any improve- ments made subsequent to the date of this policy, unless a liability or value has otherwise been agreed upon as to each such parcel by the Company and the Insured at the time of the issuance of this policy and shown by an express statement herein or by an endorsement attached hereto. 9. SUBROGATION UPON PAYMENT OR SETTLEMENT Whenever the Company shall have settled a claim under this policy, all right of subrogation shall vest in the Company unaffected by any act of the Insured, and it shall be subrogated to and be entitled to all rights and remedies which the Insured would have had against any person or property in respect to such claim had this policy not been issued. If the payment does not cover the loss of the Insured, the Company shall be subrogated to such rights and remedies in the proportion which said payment bears to the amount of said loss. If loss should result from any act of the In- sured, such act shall not void this policy, but the Company, in that event, shall be required to pay only that part of any losses insured against hereunder which shall exceed the amount, if any, lost to the Company by reason of the impair- ment of the right of subrogation. The Insured, if requested by the Company, shall transfer to the Company all rights and remedies against any person or prop- erty necessary in order to perfect such right of subrogation, and shall permit the Company to use the name of the Ifisured in any transaction or litigation involving such rights or remedies. If the Insured is the owner of the in- debtedness secured by a mortgage covered by this policy, such Insured may release or substitute the personal liability of any debtor or guarantor', or extend or other- wise modify the terms of payment, or release a portion of the estate or interest from the lien of the mortgage, or release any collateral security for the indebted- ness, provided such act does not result in any loss of priority of the lien of the mortgage. 10. POLICY ENTIRE CONTRACT Any action or actions or rights of action that the Insured may have or may bring against the Company arising out of the status of the 1.ien of the mortgage covered by this policy or the title of the estate or interest insured herein must be based on the provisions of this policy. No provision or condition of this policy can be waived or changed except by writing endorsed hereon or attached hereto signed by the President, a Vice- President, the Secretary, and Assistant Secretary or other validating officer of the Company. 11. NOTICES, WHERE SENT All notices required to be given the Company and any statement in writing required to be furnished the Company shall include the number of this policy and shall be addressed to it at the office which issued this policy or to its home office at 310 S. W. Fourth Ave., Portland, Oregon 97204. ~000 ~0~0000~00 ~0 ~0~0 mO0~O00 ~0~0~0 ~000~0 ~0 ~0 O0 ~0--0 ~ --~ E~Om E~ ~c o~ = E e~ ~ ~ ~=~ ~ o.~ ~_ E= E~ E~=c E~ Eo .~ o=_,. .~ .o · : ~00~ oo~ ~ ~~ :~ 0 0 ~ · - ~ · c ~ ~ E ~ ' ~- ' ~ · · : ~ . ~ '~ .~ ~ '~ :~ ~ : : :~ : : :~ .~ ~ .~0 ~ .~ .~ :~ :~ .~ .~ .' : . : · . .... ~ . ~ :~ m : :~ : : · . :~ . :~ : : : : : : : : : . : : : : : : : : : : : :~ : : : : ~ . : : : ~ : : : : : : : : : : : : : : : : : : : ~ : : : : : : : 0 :~'' : : : : : : : :~ : : : : : : : : A ~ ~ : : : : : : : : : : : : ~ : : : : : : : } : ~ ~ : : ~ '~ :~ · : : : :~ :Z~ : : : · : : : ' : ' · · · · : : : : : : · : : : : ; · : : : : : · : ' : . : · · :~ 0 := .> : . . · :~ :g~ . : , : : , : : : : : : : : : : : :: :: :: : : : : :: : , : , : , : : :~ Z '~ :c ' ' ' : :~ .~ : : : · : = ~ : : : · :4 :~ ..... : : :~ :.E > :~ :~ : : :> · :~ : . : · · :o ~.c' .='~ .<'> ' '~ :~_o~= :~ ~ :.EcO~O~ : : :~ :.~ .~ := .~ '= -~ :~ :~'~ ~ .~ : .c · --- ,.,~ ~ O~ O~ ,,, ~ 0 ~ z ~ ~ .~ o~ . ~ ~ 0 ~ . . ~ 0z ~ O0 ~ ~Z_ ~S ~ ~0 ~0 0~ ~ ~z <[ O~ ~ 0~ ~ ~00~ [0 ~ zo OS ~u ~u uJ Amoun~ $ 53,500.00 SCHEDU[E A Dote October 6, INSURED 1982 At 9:16 A.M. CITY OF ASHLAND a Municipal corporation of the State of Oregon The fee simple title ~o said la.d is, et the date hereof, vested in CITY OF ASHLAND a Municipal corporation of the State of Oregon an estate in fee simple The land referred to in this policy is described as: Page2 Policy' No. CTI - 54113 P TI-I~ I- ~,-~. All Policy Forms Schedule A-- Continued The land referred to in this policy is situated in the State of Oregon, County of and is described as follows: Jackson A tract or parcel of land situated in the Northwest quarter of Section 23, Township 39 South, Range 1 East of the Willamette Meridian, Jackson County,, Oregon and being more fully described as follows: Commencing at a found 1 inch galvanized iron pipe with a bronze cap situated at the quarter corner common to Sections 14 and 23, said Township and Range; thence South 1324.03 feet (deed record South, 1324.21 ifeet) and West, 694.39 feet (deed record West, 693.72 feet) to a point of intersection of the Southerly boundary line of Briggs Subdivision, as now recorded, extended Easterly, with the Westerly right of way of Tolman Creek Road, as said right of way has been established by the centerline monumentation, as shown on Recorded Survey No. 4028; thence South 00° 06' 17" East (deed record South 00° 08' 00" East, 664.78 feet) along the Westerly right of way of said road, 664.94 feet to a point in that Boundary Line by Agreement recorded as Document No. 73-10804 of the Official Records of Jackson County, Oregon, which bears North 89° 58' 19" West (deed record West) 0.07 foot from a found 5/8 inch iron pin marked with "RLS 638"; thence continuing South 00° 06' 17" East along said road right of way, 60.00 feet to a 5/8 inch iron pin for the True Point of Beginning; thence leaving said Westerly right of 'way, North 89° 58' 19" West, 944.05 feet to a 5/8 inch iron pin; thence South 00° 08' 11" East and parallel to the Boundary Line by Agreement recorded as Document No. 73-10803 of the. Official Records of Jackson County, Oregon, 600.755 feet to a 5/8 inch iron pin situated in the East-West centerline of Section 23, said Township and Range; thence North 89° 42' 40" West along said East-West centerline, 360.01 feet to a 5/8 inch iron pin situated at the Southerly terminus of the last hereinabove referred to Boundary Line by Agreement; thence leaving said East-West centerline of said Section 23, North 00° 08' 11" West (deed record North 00° 10' 17" West) along that Boundary Line by Agreement recorded as Document No. 73-10803 of the Official Records of Jackson County, Oregon 4.92 feet to a found 5/8 inch iron pin Witness Corner; thence continuing along said agreement line, North 00° 08' 11" West, 654.20 feet to a found 5/8 inch iron pin situated in that Boundary Line by Agreement recorded as Document No. 73-10804 of the Official Records of Jackson County, Oregon; thence South 89° 58' 19" East (deed record East) along the last recited boundary line by agreement, 1304.09 feet to a point in the Westerly right of way of Tolman Creek Road, as hereinabove set forth, which bears North 89° 58' 19" West (deed record West) 0.07 foot from a found 5/8 inch iron pin marked with "RLS 638"; thence South 00° 06' 17" East (deed record South 00° 08' 00" East, 60.00 feet) 60.00 feet to the point of beginning. TI 68 Standard Coverage Polic! SCHEDULE B This policy does not insure against loss or damage:, nor against costs, attorney's fees or expenses, any ~r all of which ariise by reason of the matters shown or referred to in this Schedule except to the extent that the owner of any mortgage or deed of trust is expressly insured on page 1 of this policy. 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 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, liens or encumbrances, orclaims thereof, which are not shown by the public records; un- patented mining claims; reservations or exceptions in patents or in Acts authorizing the issuance thereof; water rights, claims or title to water. 4. Discrepancies, conflicts in boundary lines, shortage in area, encroachments or an.,,' other facts which a correct survey would disclose. 5. 1982-83 real property taxes are a lien, but not yet payable. 6. A Trust Deed, including the terms and provisions thereof, dated September 11, 1981, recorded September 11, 1981, as Document No. 81- 17233, Official Records of Jackson County, Oregon, given to secure payment of a note, with interest thereon. (Includes additional property. ) Grantor(s): Trustee: Beneficiary: Amount: Denis Toney doing business as Denis Toney Construction Crater Title Insurance Co., an Oregon corporation Judith B. Hoffarth $50,000.00 7. An easement for the right of ingress and egress over and across a strip of land, variable in widtht as reserved by Denis Toney dba Denis Toney Construction as more fully set forth in instrument recorded October 6, 1982, as Document No. 82-14398, Official Records of Jackson County, Oregon. 8. An easement for ingress and egress for emergency vehicles i.e. rescue, ambulance, policy and fire trucks, as more fully set forth in instrument recorded October 6, 1982 as Document No. 82-14398, Official Records of Jackson County, Oregon. Page 3 of Policy No. CTI - 54113 TI 30 Rabng Bureau for Title Insurance Compames itl Oregon OWNER'S INFLATION PROTECTION INDORSEMENT Attached to Policy No. CTI - 54113 Issued by First American Title Insurance Company of Oregon Ar~ assumed buslnes~ name of ¥1TLE ~NSURANOE COMPANY OF OREGON The Company ;ecognizing the current effect of inflation on real property valuation and intencting to provide additional monetary' protection to the Insured Owner named in said Policy, hereby modifies said Policy, as follows: Notwithstand;ng arwtmng contained h'..-.a- la' Policy to t-~e contrary, the amount et insurance provided said Poiicy, as stated in Schedule A t -~ereof, is subject to cumulative annual upward adiustmcnts in rnannerand to the extent hereinafter pecfied "Adjust,:n~qt Oate' ~s defined, for the pu,:;ose of thi:; Ir;dorsement, to be ;2:O1 a,:~. on the f~st .:am.~arv 1 j , ',¥~-,~c- 3c:cu*s more [!~an ~Jx months ?ftel the Date of Policy, as st~ovvn ;n Sch(%ul~ A :~f the ?ot;cy to wh;ch ~his Indorsement is at[ached, rr;:t o~: each succe¢ing Janua~, 1, -'\r ::;:,.:, ? ,' adiustm,)~t 'wilt be made on. each of the Adjustmen~ Dates. as de;:in~.d abm.'e by' :;c: ;,,, .... ,".~ximu'~ a~t'<:unt '~[ insurance prcruded by said Poiic'y (as said amount may *,~au.. .... (teen :heretofore under th~ terms of this ~ndoFsrme~t) by d~e sattle percentage, i~ an'y, [],/,.vl~:.:r, t',~: :;taresL,e~.,,~t ;x , He t .~[. Comme~ce Somposi~6 Construction Cost Index fbasu ~;erh)d !c~F ?,. ..... fi.) th~ :no;,th of ;:;~()te ;,bet r m..a,,:te y pf~](';uding exceeds the highest index . u~.)¢'' for th~ n~.snth ~ee[):embe~ ~ ~n¥ Dre¥~cds '¢ea~ which is %~bsequent to Date o¢ Policy;~. .... .,v,u~'~', h,)wev~;~, that .T)a~im :m im,CLii~[ of ~l~suraRce ~n force si~all r'ever exceed 1 50% of the am,:~,nt of insu~ ance stat~J ~}c ~ed;Jie s of sa~:J [~olicy, less the amount of any claim paid under said Policy which, under ti,e 2arms :;f the ~c'.%Jitiolls and Stipulations, reduces the ~.mount of hssurance ;n force. There shall be no annua¢ adjustmc~'~t in tho amou~:[ of ~nsuranc¢. for yea~s in which there is no rncrea¢? :,n Colxstrucdon Cos~ Index. ;n the ~;etfiemem: of any c!airn against the Company under said Policy, the amount of insurdnce in 7r?c:~ :~i',at! be deemed to be the amount which is in force as of the date on which the insured claimant ;irst learned of the assertion o~" possible assertion o~- such claim, or as of the date of receipt by [he Company of the tirst notice of such claim, whichever shall first occur. Nothing hereir~ contained shalt be construed as extending or changirtg the effective date of said Policy. This indorsement is made a part of said Policy and is subject to the schedules, conditions and stipulations therein, except as modified by the provisions hereof. PRESIDENT ATTEST/I~ ~ - ~ SECRETARY TI 77 604 West Main St. Phone 779- 72.~ Medford, Oregon 97501 'CRATER TITLE INSURANCE CO. Serving all of Jackson County . / /5- 485 Els! Main St. Phone 482-400~ Ashland, Oregon 97520 THIS SKETCH IS FOR LOCATION PURPOSES ONLY. NI~(BERS ON SKETCH ARE COMPANY NUMBERS AND NO LIABILITY IS ASSUMED FOR VARIATIONS DISCLOSED BY SURVEY OR COUNTY RECORDS. OREGON ASSOCIATION OF RE ,~LTORS~° ADDENDUM TO EARNEST MONEY CONTRACT EXHIBIT NO I.D. NO N REFERENCE TO 1-HE FOREGOING AND ATTACHED EARNEST MONEY CONTRACT BETWEEN BUYER(S), AND. FOR THE REAL PROPERTY KNOWN AS , SELLER(SI, DATED_ THE BELOW SIGNED BUYER(S) AND SELLER(S) HEREBY AGREE TO TEIE FOLLOWING: THIS AGREEMENT, WHEN SIGNED BY BOTH PARTIES, IS HEREBY MADE A PART OF THE FOREGOING EARNEST MONEY CONTRACT. DATE DATE Reprinted 10/80 OFFICE BUYER BUYER SELLER SELLER REPRESENTATIVE DATE