1978-050ORDINANCE NO. 7g -_6 0
CONVEYANCE OF REAL ESTATE TO BUFFALO GROVE PARK DISTRICT
(GRAND SPAULDING DODGE PARK SITE)
WHEREAS, the Buffalo Grove Park District is a municipal corporation
organized for the purpose of owning and operating park and recreational
facilities; and
WHEREAS, the said District has represented that more land is needed
for park and recreational facilities and that it will improve the land
described herein and use it for park and recreational purposes if said
land is conveyed to it; and
WHEREAS, the Village considers that it is to the best interest of
the public to convey the property described herein to the Park District
for park and recreational facilities; and
WHEREAS, the Village of Buffalo Grove, pursuant to the provisions
of "An Act in Relation to the Transfer of Real Estate Owned by Munici-
palities", Chapter 10, Paragraphs 156 -158a, Illinois Revised Statutes
1969, is desirous of effecting a transfer subject to the conditions
hereinafter set forth:
NOW, THEREFORE, BE IT ORDAINED BY THE PRESIDENT AND BOARD OF TRUS-
TEES OF THE VILLAGE OF BUFFALO GROVE, COOK AND LAKE COUNTIES, ILLINOIS:
Section 1.
The President and Clerk are hereby authorized and direc-
ted to execute a deed conveying the following described real estate to
the Buffalo Grove Park District, subject to the stipulation and condi-
tions herein set forth:
That part of the West 1/2 of Section 8, Township 42 North, Range
11, East of the Third Principal Meridian, bounded by a line de-
scribed as follows: Commencing at a point in the North line of
the Northwest 1/4 of said Section 8, said point being 117.86 feet
West of (as measured along said North line which bears North 89°
25'40" West), the Northeast corner of said Northwest 1/4 Section;
thence South 00° 03'37" West, 250.00 feet to the point of beginn-
iu of the parcel to be described; thence continuing South 00°
03 37" West, 621.20 feet to a point in the South line of the North
871.20 feet of the East 1/2 of the Northwest 1/4 of Said Section 8
thence North 89° 25'40" West, along the last mentioned South line,
380.00 feet; thence North 40° 32'20" East, 232.44 feet; thence
North 00° 03'37" East, 543.14 feet to a point in the South line of
Dundee Road as dedicated per Document No. 21118215; thence South
89° 25'40" East, along said South line of Dundee Road, 29.00 feet;
thence South 44° 41'02" East, 284.10 feet to the point of beginning,
in Cook County, Illinois being also the same parcel of land dedica-
ted to the Village of Buffalo Grove, Cook County, Illinois, on the
plat of "Grand Spaulding Dodge ", being a subdivision of part of the
West 112 of Section 8, in the Township and Range aforesaid, as now
platted and recorded.
VILLAGE OF BUFFALO GROVE
ORDINANCE NO.
ADOPTED BY THE PRESIDENT
AND BOARD OF TRUSTEES OF THE VILLAGE
OF BUFFALO GR VE
THIS /47d DAY OF 197
Published in pamphlet form by authority
of the President and Board of Trustees of
the Village of Buffalo Grove, Cook and Lake
Counties, Illinois,.this< day of
197
Village Clerk
ORDINANCE NO. 78--3-0
CONVEYANCE OF REAL ESTATE TO BUFFALO GROVE PARK DISTRICT
(GRAND SPAULDING DODGE PARK SITE)
WHEREAS, the Buffalo Grove Park District is a municipal corporation
organized for the purpose of owning and operating park and recreational
facilities; and
0 WHEREAS, the said District has represented that more land is needed
for park and recreational facilities and that it will improve the land
described herein and use it for park and recreational purposes if said
land is conveyed to it; and
WHEREAS, the Village considers that it is to the best interest of
the public to convey the property described herein to the Park District
for park and recreational facilities; and
WHEREAS, the Village of Buffalo Grove, pursuant to the provisions
of "An Act in Relation to the Transfer of Real Estate Owned by 21uni.ci-
palities", Chapter 10, Paragraphs L56 -158a, Illinois Revised Statutes
1969, is desirous of effecting a transfer subject to the conditions
hereinafter set forth:
NOW, THEREFORE, BE IT ORDAINED BY THE PRESIDENT AND BOARD OF TRUS-
TEES OF THE VILLAGE OF BUFFALO GROVE, COOK AND LAKE COUNTIES, ILLINOIS:
Section 1. The President and Clerk are hereby authorized and direc-
ted to execute a deed conveying the following described real estate to
the Buffalo Grove Park District, subject to the stipulation and condi-
tions herein set forth:
That part of the West 1/2 of Section 8, Township 42 North, Range
11, East of the Third Principal Meridian, bounded by a line de-
scribed as follows: Commencing at a point in the North line of
the Northwest 1/4 of said Section 8, said point being 117.86 feet
West of (as measured along said North line which bears North 89°
25'40" West), the Northeast corner of said Northwest 1/4 Section;
' thence South 00° 03'37" West, 250.00 feet to the point of beginn-
inp of the parcel to be described; thence continuing South 000
03 37" West, 621.20 feet to a point in the South line of the North
871.20 feet of the East 1/2 of the Northwest 1/4 of Said Section 8
thence North 89° 25'40" West, along the last mentioned South line,
380.00 feet; thence North 40° 32'20" East, 232.44 feet; thence
North 00° 03'37" East, 543.14 feet to a point in the South line of
Dundee Road as dedicated per Document No. 21118215; thence South
89° 25'40" East, along said South line of Dundee Road, 29.00 feet;
thence South 44° 41'02" East, 284.10 feet to the point of beginning,
in Cook County, Illinois being also the same parcel of land dedica-
ted to the Village of Buffalo Grove, Cook County, Illinois, on the
plat of "Grand Spaulding Dodge ", being a subdivision of part of the
West 112 of Section 8, in the Township and Range aforesaid, as now
platted and recorded.
-2-
Section 2. The deed shall contain the following reverter clause:
"In the event the property herein described is not used by the Grantee
for park and /or recreational purposes, title and possession shall re-
vert to the Grantor."
Section 3. This ordinance shall be in full force and effect from
•
and after its passage and approval according to law.
4 - Marienthal, Stone,
AYES: Mendenhall, Kandel NAYES: 0 - None A$SENT:2-Rech, Bogart
PASSED AND APPROVED this 19th day of
ATTEST:
CLEM —
U • s
June ,1978.
I
-2-
Section 2. The deed shall contain the following reverter clause:
"In the event the property herein described is not used by the Grantee
for park and /or recreational purposes, title and possession shall re-
vert to the Grantor."
Section 3. This ordinance shall be in full force and effect from
and after its passage and approval according to law.
4 - Marienthal, Stone,
AYES: Mendenhall, Kandel NAPES: 0 - None
PASSED AND APPROVED this 19th day of
ATTEST:
CLERK
.9451TA 4
ABSENT.2-Rech, Bogart
June
r
WVMMa(
A
M.
.1978.
i OEOR E. COLE- NO. 801
li LEGAL FORMS September, . 1878
S i} WARRANTY DEED
I 6
Statutory m.uNorn
(Corporation to Corporation)
(The Above Space For Recorders Use Only)
THEGRANTOR VILLAGE OF BUFFALO GROVE (Cook & Lake Counties)
agor %cipareated and existing under and by virtue of the laws of the State of Illinois
and duly authorized to transact business in the State of Illinois .fQr and in consideration
Of TEN DOLLARS and NO DOLLARS,
DOLLARS,
in hand paid, and pursuant to authority given by the Board of Trt,Rt PPS of said corporation
CONVEYS and WARRANTS to— BUFFALO GROVE PARK DISTRICT
municipal
a/corporation organized and existing under and by virtue of the laws of the State of Illinois
having its principal office at the following address 50 11. Raupp Blvd. Buffalo Grove IL.
the following described Real Estate situated in the County of
Cook and State of Illinois, to wit: F+
a
W
Bb
(Legal description per rider attached) H
d
m u
ec tD
m u
x m
6 �
� rl
I- Rt
W PG
REVERTER CLAUSE: In the event the property described herein is not z a
used by the Grantee for park and as recreational purposes, title and > ow
possession shall revert to the Grantor. Rt w
At o
0
In Witness Whereof, said Grantor has caused its go�porate sea] to be hereto affixed, and has caused its name Do
to be signed to these presents by its Villa a Presidents and attested by its
Clerk 7[,Q%i%, this 9 day of 4 �,19_LC z
IMPRESS ME O ORPOIIATIONI
CORPORATE SEAL By ! /
HERE m y PRESIDENT
er xecmamx
State of Illinois, County of Ss. I, the undersigned, a Notary Public, in and for the
County and State aforesaid, DO HER BYCERTIFY,that E w rd Fabish
personally known tome to be the VIIllage President of the lrlage Buffalo Gj�ove
_ a municipal
corporation, and Verna Clanton personally known to me to be
[he Clerk StXsexagi of said corporation, and personally known to
me to be the same persons whose names are subscribed to the foregoing instru-
IMPRESS ment, appeared before me thii day in person and severally acknowledged that as
such illage President and Clerk
NOTARIAL SEAL 5cyxcll ;;�„ they signed
HERE and delivered the said instrument as Village president and Clerk
tof said corporation, and caused the corporate seal of said corporation
to be affixed thereto, pursuant to authority, given by the Board of Trustees
of said corporation as their free and voluntary act, and as the free and voluntary
act and deed of said torpor tion, for the uses an purposes therein set fortth�y
Given under my hand and official seal, this 4 FOR day of 19Lf
` –Y71LAle.6 /d. S/ /l
Commission expires— OCtCbe,= , 19M �c[/t a I p�tiG�tl i r1�
NOTARY PUBLIC
am
This instrument was prepared by Willi t AyAa 1011 Lake Street Oak Park IL.
(NAME AND ADDRESS)
,
ADDRESS OF PROPERTY:
See legal description
aR. Address of Grantee: 150 Raupp
Blvd., Buffalo Grove, IL.
MAIL TO, THE ABOVE ADDRESS IS FOR STATISTICAL PURPOSES
ea ONLY AND IS NOT A PART OF TH 15 DEED.
SEND SUBSEQUENT TAX BILLS TO:
(city, StRe a
arlM
OR RECORDER'S OFFICE BOX NO.
0
.a
u
u
a
t.1
a
v
0
8
a
x
a
Q
O
r
u
U
m
H ai
u u
to
C
n1
N
d
C
s
m
z
1
z
C
3
m
m
I
rn
r�
W
G5
RIDER
That part of the West 1/2 of Section 8, Township 42 North,
Range 11, East of the Third Principal Meridian, bounded by
a line described as follows: Commencing at a point in the
North line of the Northwest 1/4 of said Section 8, said point
being 117.86 feet West of (as measured along said North line
which bears North 89° 25'40" West), the Northeast corner of
said Northwest 1/4 Section; thence South 00° 03'37" West,
250.00 feet to the point of beginning of the parcel to be
described; thence continuing South 00° 03'37" West, 621.20
feet to a point in the South line of the North 871.20 feet
of the East 1/2 of the Northwest 1/4 of said Section 8;
thence North 89° 25 "40" West, along the last mentioned South
line, 380.00 feet; thence North 40° 32'20" East, 232.44 feet;
thence North 00° 03'37" East, 643.14 feet to a point in the
South line of Dundee Road as dedicated per Document No. 21118215;
thence South 89° 25'40" East, along said South line of Dundee
Road, 29.00 feet; thence South 44° 41'02" East, 284.10 feet to
a point of beginning, in Cook County, Illinois being also the
same parcel of land dedicated to the Village of Buffalo Grove,
Cook County, Illinois, on the plat of "Grand Spaulding Dodge"
being a subdivision of part of the West 1/2 of Section 8, in-:.
the Township and Range aforesaid, as now platted and recorded.
CHICAGO T1' _j i INSU.,. ACE COMPANY
• 111 WEST WASHINGTON STREET • CHICAGO, ILLINOIS 60602 • 312/332/7700
COMMPI'MENT FOR TITLE INSURANCE
CHICAGO TITLE: INSUIIANCE COMPANY hereby commits to issue its policy or policies, as identified in
Schedule A, -in favor of the proposed Insured named in Schedule A, under the terms of and subject to the pmVisions
and Conditions and Stipulutious cout iii u0d in the "American Lund TiLle Assoc•iutiou Collimilwenl — 1966" issued
by the Company, which are incorporated herein by refc•r0uce and mule a purl of this Couuuilrucut; ull subjecr to 1110
Ap skons of Schedules A and B below, the Exclusions from Coverage and the General Lxceptious contained in the
P ---; t m an t.
APPLICABLE GENERAL EXCEPTIONS AND SCHEDULE B EXCEPTIONS (1) AND (2)
APPEAR ON THE INSIDE OF THE COMMITMENT JACKET (FORM NO. 2600).
SCHEDULE A �#
NUMBER EFFECTIVE DATE REFER INQUIRIES
65 25 556 APRIL 8 e 1977 SECOND FLOOR 630 -2016 (BILLER: 63o-2255)
1e OWNERS POLICY TO BE ISSUED: ALTA FCR M B AMOUNT: S19000.U0
PROPOSED INSUREC:
BUFFALO GROVE PARK DISTRICT.
LOAN POLICY TO bE ISSUED: NONE AMOUNT: —'Q•LC
PROPOSED INSURED:
2e THE ESTATE OR IN IERF ST INs THi LAND DESCR EB[D OR REFERRED TO IN THIS
COMMITMENT AND COVERED HEREIN IS A FEE SIMPLE AND TITLE THERETO IS
AT THE EFFECTIVE DATE HERETO VESTED IN:
WHEELING TRUST AND SAVINGS DANK, A CORPORATION OF ILLINOIS, AS TRUSTEE
UNDER TRUST AGREEMENT DATED MAY 27. 1976 AND KNOWN AS TRUST NUMBER
76 -179
3. THE LAND REFERRED TO IN THIS COMMITMENT IS DESCRIBED AS FOLLOWS:
THAT PART OF THE WEST 1/2 OF SECTION 8, TOWNSHIP 42 NORTH, RANGE 11
EAST OF THE THIRD PRINCIPAL MERIDIAN, BOUNDED BY A LINE DESCRIBED AS
FOLLUWS :
COMMENCING AT A POINT IN THE NORTH LINE OF THE NCRTH HEST 1/4 OF SAID
SECTION 8t SAID POINT BEINC 117.86 FEET NEST (AS MEASURED ALONG SAID
NORTH LINE WHICH BEARS NORTH 69 DEGREES 25 MINUTES 40 SECONDS WEST) OF
THE NORTH EAST CORNER OF SATO NORTH WEST 1/4 SECTION; THENCE 500TH UO
6EGREES 03 MINUTES 37 SECONDS WEST, 250.00 FEET TO THE POINT OF
GEGINNING OF THE PARCEL TO BE DESCRIBED; THENCE CONTINUING SOUTH 00
DEGREES 03 MINUTES 37 SECONDS NEST. 621.20 FEET TO A POINT IN THE SCUTt
LINE OF THE NORTH 871.20 FEET OF THE EAST 1/2 OF THE NORTH WEST 1/4 OF
SAID SECTION 8; THENCE NURTH 89 DEGREES 25 MINUTES 40 SECONDS NEST•
ALONG THE LAS[ MENTIONED SOUTH LIME, 380.00 FEET; THENCE NORTH 40
DEGREES 32 MINUTE 5 20 SECOhUS EAST, 232.44 FEET; THENCE NORTH 03
DEGREES U3 MINUTES 37 StCpNOS EAST, 643.14 FEET TO A POINT IN THE SCUTI
I - LINE OF DUNOLE ROAD AS DEDICATED PER DOCUMENT NUMBER 21118115; THENCE
.ID SOUTH LINE OF SOUTH-89 DEGREES 25 MINUTES 40 SECONDS iAST• ALONG SR
DUNDEE ROAD, 29.00 FEET; THENCE SOUTH 44 DEGREES 41 :41NUTES 02 SECONDS
roar 3610
A(410
I
„
PAGE 2 —SCHEDULE A CONTINUED-
65 25 556
EASTy 284.10 FEET To THE- PUINT OF BEGINNING* IN COOK COUNTY@ ILLINUIS
—SCHEDULE B CONTINUED FROM COMMITMENT JACKET (FORM NO. 26001- -
3e FOR TAX INFORMATION SEE ATTACHED PAGL(S) CONCLUDING WITH OENDO&
40 INFORMATION SHOULD BE FURNISHED ESTABLISHING THE PRESENT VALUE
OF THE LAND AND IMPROVe.MENTS THEREON. IF SUCH VALUE IS GREATER
THAN THE AKjUNT OF INSURANCE REQUESTED, THE APPLICATION SHOULD
BE AMENDED TO REQUEST AN AMOUNT EQUIVALENT TO THE FULL VALUE OF
THE PROPCklY, AND, IN DEFAULT THEREOF, THE RIGHT IS 14ESkRVEG TO
INSERT IN THE OWNER'S POLICY THE COMPANY'S USUAL COINSURANCE
ENDORSEMENT.
ode RIGHTS OF THE PUBLIC, THE STATE OF ILLINOIS AND THE )MUNICIPALITY
IN AND TO THAT PART OF THE LAND TAKEN OR USED FOR ROAD PURPOSES
60 RIGHTS OF WAY FOR DRAINAGE TILES9 DITCHES# FEEDERS AND LATERALS,
IFS ANY
Te RIGHTS OF ADJOINING AND CONTIGUOUS OWNERS TO HAVE MAINTAINED THE
UNImTERRU? TED FLOW OF THE WATERS OF ANY STREAM WHICH MAY FLOW
THROUGH SA ID LAND
as GRANT MADE BY MARY M. WEIDNER TO NORTHERN ILLINOIS GAS COMPANY9
ITS SUCCESSORS AND ASSIGNS# DATED wiOVEMPER 2o, 196Z AND RECORDED
NOVEMSER 300 1462 AS DOCUMENT 18659532 OF THE RIGHT TO LAYt
MAINTAINt GPERATE GAS MAINS AND OTHER NECESSARY GAS FACILITIES
TOGETHER WITH RIGHT OF ACCESS THERETO FOR SAID PURPOSES IN AND
UPON AND ALONG THE FOLLOWINGt THAT PART OF THE NORTH 1/2 OF
SECTION 8 AFORESAID LYING BETWEEN THE CENTER LINT: OF DUNDEE ROAD
AND LINE DRAWN 52 FEET SOUTH OF AND PARALLEL WITH SAID HIGHWAY
CENTER LINt.
(AFFECTS TFAT PART FALLING WITHIN "THE EAST 1/2 OF THE EAST 1/2
OF THE NORTH WEST 1/4 OF SECTION 8 AFORESAID)
9e EASEMENT IN FAVOR OF TH£ COMMONWEALTH EDISON COMPANY IN AND OVER
A STRIP OF LAND 1 ROD IN WIDTH, ADJACENT TO AND PARALLEL WITH
:t
PON" 3649
PAGE 3
— SCHEDULE B CONTINUED-
65 25 556
AND LYING SOUTH OF THE SOUTH RIGHT OF WAY LINE OF ILLINOIS ROUTE
�;.. NUMBER 68 (DUNDEE ROAD) AND BEING EN THE EAST 112 OF THE EAST
1/2 OF THf_ NCRTH WEST 1/4 OF SECTION 9 AFORESAID FOR THE
INSTALLdTIGNq MAINTENANCE AND OPERATION OF PUBLIC UTILITIES
EQUIPMENT WITH RIGHT OF ACCESS THERETO AS CREATED BY GRANT DATED
NOVEMBER 9v 1967 AND RF- CORDED hOVEMBER 16, 1967 AS DOCUMENT
20324742.
10o EASEMENT OVER THE EAST 1/2 OF THE NORTH WEST 1/4 OF SFCTION 6
FOR UTILITY PURPOSES INCLUDING BUT NOT LIMITED TO SANITARY AND
STORM SEWL -K, WATER• MAIN, GAS, OIL AND ELECTRICITY AS CREATED BY
GRANT TO ALVIN KORNFELD DATED MAY 13, IcM8 AND RECORDED MAY 17,
1966 AS DOCUMENT 20492687, SAID EASEMENT PURPORTEDLY RELEASLD BY
DOCUMENT 22220448 RECORDED FEBRUARY 140 1973
Its SUBORDINATION OF SURFACE RIGHTS FOR, PUBLIC ROAD PURPOSES MADE BY
THE ILLINOIS BELL TELEPHONE COMPANY TO THE STATE OF ILLINOIS PY
DOCUMENT 22201584 RECORDED JANUARY 29, 1973
120 SUBORDINATION OF SURFACE RIGHTS, FOR PUBLIC ROAD PURPOSES MADE BY
THE ILLINOIS BELL TELEPHONE COMPANY TO THE STATE OF ILLINOIS BY
DOCUMENT 22248432 RECORDED MARCH 139 1973
-13e EASEMENT GRANTED TO THE ILLINOIS BELL TELEPHONE COMPANY TO
INSTALL, MAINTAIN AND SERVICE TELEPHONE EQUIPMENT DISCLOSED IN
DOCUMENT 21501410 AND RECORDED JUNE 49 1971
loo COVENANTS• CONDITIONS AND RESTRICTIONS COtiTAINED IN DECLARATION
DATED AUGUST 31, 1976 AND RECORDED SEPTEMBER 149 1976 AS
DOCUMENT 23634626 THAT THE ONLY USE TO BE MADE OF THE PREMISES
IS AN AUTOf�DSILE DErALERSHIP4
(AFFECTS THE LAND ANO OTHER PROPERTY)
$5• INTEREST OF MILLER BUILDERS• ASSESSEE, SHOULD BE EXPLAINED, AND
THIS COMM11ME-NT IS SUBJECT TO SUCH FURTHER EXCEPTIONS AS MAY BE
DEEMED NECISSARY,
i
PAGE 4
a
f►f!�
—SCHEDULE B CONTINUED-
65 25 556
TERMS] POW[RS• PROVISIONS AND LIMITATIONS OF THE TRUST UNDER
WHICH TITLE TO SAID LAND IS HELD.
1T. NOTEI THE LAND IS PART OF LOT 1 IN GRAND SPAULDING DODGE, HEING
A SUBDIVISION OF PART OF THE WEST I12 OF SECTION 8v TOWNSHIP 42
NORTH, R /�NUE 11 FAST OF THE THIRD PRINCIPAL MERIDIAN• IN COOK
COUNTY, ILLINOIS, ACCORDING TO THE PLAT THEREOF RECORDED
DECEMBER 17. 1976 AS DOCUMENT 23752075.
�B. DEDICATIU4 OF THE LAND TO THE VILLAGE OF BUFFALO GROVE FOR
PUBLIC PARK OR RECREATIONAL BUILOIN G PUKPUSES AS SET FORTH 1N
THE PLAT OF SUBDIVISION RECORDED DECEMBER 17, 1976 AS DOCUMENT
237520750
190 NOTATION SiT FCRTH ON LETTER FROM THE DIRECTOR, DIVISION OF
WATER RESOURCESs ILLINOIS DEPARTMENT OF TRANSPORTATION ATTACHED
TO THE PLAT OF GRAND SPAULDING OL+DGE SUBDIVISION RECORDED
DECEMBER 17, 1976 AS DOCUMENT 23752075 THAT LOT 1 IN SAID
! SUBDIVISION WILL BE SUBJECT TO FLOOD RISK• BUT THAT THERE 11
SUFFICIENT AREA ABOVE HIGH WATER ON SAID LOT 1 FOR BUILDING
DEVELOPMENT.
^0 TITLE INSURANCE COMPANY
AU1I 101'dZED SIGNATORY
ky .
' 1
4 '
roam a64*
. ' CO 04 Flu -77
PERM 7AX Nn VU,LUME
p,,* p4 - 101- 011--u0u0
m U T Et THIS TAX NUM-,ER AFRCTS PI? E OP
ASSESSEE t
bLURS
8707 SKOKIE BLVD
SKCKIE IL. t.6074?
TAXES FOk THE Y;:d +S I97o E 1977.
ZA N,QU I 1977 TAX!.S .ALT DcLIir4aJE�./ m FORE MAR 2, 1978
.•'S,cis c
'+tr.�a ,�r .
i ualrar.
-
f aj l r
QfAhc
LY! .
I BILLED
GENERAL EXCE'V11ONS IN POLICIES
'[the owners polity will be subject to the following Gcucrul 1 ?xceptiuus:
(1) (lights or claims Of parti,•+ in posscasiou not shown by the publir rewords;
(2) I':ncroachuteats, Overlaps, boundary line disputed, and oily hatters which would be disclosed by all accuratl,
survey and inspection of the premises;
(3) Fusena:ats, or claiuu+ Of easrnlr•nls, not shown by the public records;
(4) Any lien, or right IO it li.•u, for st-rvires, labor, or material hrrelo1mv or hereafter furnished, imposed by law and
not shown by the public records;
(5) 'faxes or special assessun•uts which ;are not shown as existing liens by tilt- public revoirls; and
The C or hl bavh loan policy will Lt- subject to foregoing general exceptions (4)a nd(5), and do- II f+nah will also be sulr
feet to:
Consequences of the failure Of the lender to pay out properly the whole or any part of till loan secured by the trust
deed or nlortguge covered by the conuuitlnent, as affecting:
(a) The validity of the lien of said trust deed or mortgage; and
(b) The priority of the lien Over any other right, claim, lien or eucumbraoce which has or ally become superior to
the lieu of said trust Herd or mortgage befuec the. disbursemtmt Of Ills entire limcceds Of tilt- loam.
SCHEDULE B
Schedule B of the policy Or policies to be issued will contain the applicable General Exceptions (see above); and, if all
owners policy is to be issued, like encmabrauce, if any, shown in Schedule A; and exceptions la tilt- following mallars
unless the same are disposed of to the satisfactiau of the Cuulpuny:
i0 •.-
(1) Defects, liens, encumbrances, adverse claims or Other mutters, if ally, created, first appearing in the public rcronls
or attaching subsequent to the effective date hereof but prior to the date the proposed lasuied acquires for value of re-
cord the estate or interest or mortgage thercoh covered by this Couaui till :nt.
(2) An ALTA LOAN POLICY will he subject to the followingexceptioux (a) and (b), in the absenct- of the prodartion
of the data and other essential mutters in our fork (harm 3716):
t
(a) Any lien, or right to a lien, for services, labor, or material heretofore or hereafter furnished, imposed by law
and not shown by the public records.
(b) CollNeque 'IV em ofthl, failure of the (cutler (a pay out properly Ihr whole or any part of Ihr loam sl,rurl,d by till,
mortgage described in Schedule A, as affecting: (i)the validity of the lien of said mortgage; and (ii)thc priority of
the lien over any other right, claiut, lien or encumbrance which has or may become superior to the lien of said ulurl-
gage before the disburseuhcut of the entire proceeds of the loan-
h -2600