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HomeMy WebLinkAbout2010-023 Purchase of Real Property on Cerrito Lane for parkBill No. 2010- 23 Ordinance No. 2010-23 AN ORDINANCE AUTHORIZING THE MAYOR TO PURCHASE REAL PROPERTY LOCATED EAST OF CERRITO LANE TO BE USED FOR PARK PURPOSES BE IT ORDAINED BY THE BOARD OF ALDERMEN OF THE CITY OF RIVERSIDE, MISSOURI, AS FOLLOWS: (1) The Mayor is hereby authorized to sign the attached real estate contract and any and all other necessary documents to affect the purchase of real property located east of Cerrito Lane to be used for park purposes. (2) This ordinance shall be in full force and effective immediately upon passage. ADOPTED AND APPROVED by the Board of Aldermen and Mayor of the City of Riverside, Missouri this 16th day of March, 2010 :~ ., _ .. •. .City Clerk Mayor Kathleen L. Rose REAL ESTATE CONTRACT THIS CONTRACT, made and entered into this /w~ day of Gt~c~~ 20 10 , by and between LaVonne Gibson, "Seller", and CITY OF RIVERSIDE, MISSOURI, a Municipal Corporation, "Buyer". WITNESSETH: Seller hereby sells to Buyer the following described real estate, together with all improvements thereon, including, if any, central air conditioning, lighting, heating and plumbing equipment and fixtures, attached mirrors and linoleum, window and porch shades, venetian blinds, storm windows and doors, screens, curtain and drapery rods, and awnings in Platte county, State of Missouri, to-wit: All that part of the North half of the Northeast Quarter of the Northwest Quarter of Section 4, Township 50, Range 33, Riverside, Platte County, Missouri described as follows: Beginning at the Northwest corner of the said Quarter Quarter section; thence South 89 degrees, 0 minutes, 21 seconds East, along the North line thereof, 265.0 feet; thence South 0 degrees, 27 minutes, 19 seconds West, 285.0 feet; thence South 18 degrees, 01 minutes, 58 seconds East, 228.35 feet; thence South 44 degrees East, 225.0 feet; thence North 89 degrees, 0 minutes, 21 seconds West, 495.0 feet, thence North 0 degrees, 27 minutes, 19 seconds East, along the West line of the subject Quarter Quarter section, 660.0 feet to the point of beginning. Subject, however, to any recorded. restrictions, easements, party wall agreements and community contracts and subject also to any existing leases, tenancies and zoning laws; on the following terms and conditions, to-wit: 1. The purchase price is Thirty Two Thousand Dollars ($32,000.00) which Buyer agrees to pay as follows: One Thousand Dollars ($1,000.00) at the signing of this contract, the receipt whereof is hereby acknowledged by Seller and which is deposited with Integrity Title as part of the consideration of the sale; the balance to be paid in the following manner: cash on delivery of deed as herein provided. Closing to occur as soon as possible. 2. Seller shall pay all taxes, general and special, and all assessments which are due and have accrued at the date of this contract and Buyer shall assume such taxes, assessments, installments of unpaid special assessments becoming due thereafter, except that all general, state, county, school and municipal taxes (exclusive of rebates, penalties or interest) payable during the calendar year in which the deed is delivered shall be pro-rated between Seller and Buyer on the basis of said calendar year, as of the date of delivery of the deed. If the amount of any such tax to be pro-rated cannot then be ascertained, proration shall be computed on the amount thereof for the preceding year. 3. Buyer shall obtain at its costs an Owner's Title Insurance Policy in the amount of the purchase price from a company authorized to insure titles in the state in which above said property is located, insuring a merchantable fee simple title in Buyer as of the date of recording the deed. Buyer shall have 10 days after delivery of the preliminary title report to examine it and to advise Seller in writing as to any objections to title. Seller shall have any objections to title corrected prior to closing. If such objections to title cannot be rectified by Seller prior to closing, or if Seller cannot deliver a commitment for such title policy, this contract shall be null and void (unless Buyer elects to waive such objections), and the money deposited aforesaid shall be returned to Buyer. 4. HAZARDOUS SUBSTANCES: Seller hereby warrants and represents that there has not been, as of the date hereof, and that there will not have been, as of the Closing Date, any "release" (as defined in 42 U.S.C. §9601(22) or threat of a "release" of any "hazardous substances" (as defined in 42 U.S.C. §9601(14) on or about the Subject Property. Seller hereby covenants and agrees to indemnify, protect and hold harmless Buyer from and against any and all claims, demands, liabilities and costs, including attorneys' fees, arising from (a) any "release" (as defined above) or threat of a "release", actual or alleged, of any "hazardous substances" (as defined above) upon or about the Subject Property, or (b) any violation, actual or alleged, of any law, statute, ordinance, rule or regulation of any governmental or quasi-governmental authority, specifically including without limitation any environmental protection or toxic waste or hazardous substance handling, treatment, storage or disposal laws, statutes, ordinances, rules or regulations, upon or about the Subject Property. 5. If Seller has a merchantable fee simple title to said property, as aforesaid, Seller shall deliver for Buyer at the office of Integrity Land Title Company, a General Warranty Deed, properly executed and conveying said property free and clear of all liens and encumbrances whatsoever, except as hereinabove specified; Buyer shall thereupon pay the balance of said cash payment. Closing shall be handled by Integrity Land Title Company. 6. If before delivery of deed any of the improvements on said property are destroyed or substantially damaged by fire, lightning or any cause that could be covered by what is known as extended coverage insurance, Buyer may, at his option, enforce this contract (and, if so, shall be entitled to the receipt of insurance payable as a result of such destruction or damage) or may cancel it by written notice ten (10) days thereafter. 7. If Seller has kept his part of this contract, and Buyer fails to do so, within five (5) days thereafter, then this contract may or may not be operative thereafter, at the option of Seller, and, in the event Seller shall declare the contract inoperative, the money deposited aforesaid shall be paid to Seller as liquidated damages. Time is of the essence of this contract. IN WITNESS WHEREOF, said parties hereunto subscribe their names. Executed in triplicate. LaVonne Gibson ~ ,. SELLER CITY OF RIVERSIDE, MISSOURI By: BUYER Attest: Attest: ~;~ COMMERCIAL AGENCY AND BROKERAGE DISCLOSURE ADDENDUM 8El.LERILANDLORD: BUYER/TENANT: Ci Y of i2ivPraiAa~ Miaan~y~i PROPERTYADDRE88: Riverside Platte Missouri~,c~,p 8treetAddreea City County State Zip GATE OF CONTRACT: ~ March 2010 THE FOLLOWING DISCLOSURE 18 MADE IN COMPLIANCE WITH MI880URI AND KAN8A8 REAL ESTATE LAWS AND RULES AND REGULATIONS. APPLICABLE BECTIONB BELOW MUST BE CHECKED, COMPLETED, 81GNED AND DATED FOR BOTH SELLER AND BUYER BelleNl.r3u:dlord and Buyer/Tenant adcnowled~ that the real estate Lioenees involved in this treneadion may be ading es egeMe of the 8eiler/Landloni, agents of the Buyer/Tanent, Treneadian Brokere or Lbr Mlaaond ordtrl Disdoeed Dual Agents. LICEN8EE8 ACTING A8 AN AGENT OF THE SELLERILANDLORD HAVE A DUTY TO REPRESENT tHE BELLER'B/LANDLORD'8 INTEREST AND WILL NOT BE THE AQENT OF THE BUYER/TENANT. INFORMATION GIVEN BY THE BUYERRENANT TO A LICENSEE ACTING A8 AN AGENT OF THE BELLERMNDLORD WILL BE D18CLOSED TO THE 8ELLERILANDLORD. LICEN8EE8 ACTING AS AN AGENT OF THE BUYERRENANT HAVE A DUTY TO REPRESENT THE BUYER'8/TENANT'S INTEREST AND WILL NOT BE AN AGENT OF THE 8ELLERILANDLORD. INFORMATION GIVEN BY THE 8ELLERILANDLORD TO A LICENSEE ACTING AS AN AGENT OF THE BUYERITENANT WILL BE DI8CL08ED TO THE BUYERITENANT. LICEN8EE8 ACTING IN THE CAPACITY OF A TRANSACTION BROKER ARE NOT AGENTS FOR EITHER PARTY AND t)0 NOT ADVOCATE THE INTERE8T8 OF EITHER PARTY. LICEN8EE8 ACTING A8 D18CL08E0 DUAL AOENT8 ARE ACTING A8 AGENTS FOR BOTH THE BELLERILANDLORD AND THE BUYERITENANT. (Note: A sepantite Dual Apsnoy Dleolooure Addendum la required). BELLERILANDLORDAND BUYER/TENANT HEREBY ACKNOWLEDGE THAT THE BROKERAGE RELATION8HIP8 WERE 018CLOSED TO THEM OR THEIR. RESPECTIVE AGENTS ANDIOR TRANSACTION BROKERS NO LATER THAN THE FIR8T 8HOWING, UPON FIRST CONTACT, OR IMMEDIATELY UPON THE OCCURRENCE OF ANY CHANGE TO THAT RELATIONSHIP. Llcsneee AeelsNnq BeltedLandlord le acting as: (Cfiselr appllcebli) 8enerellandlord'eAgant Deetgnated Sellere/Lendforrl'e Agent (8upeMsing Broker sofa as Trensactlon Broker) Trensadbn Broker Disok>aed Dutl Agent~(Mletourl o»I~0ledoeerf Dud AgencyAddendum h nqulnd) NIA-8elter(s) Is not roproeentsd Bub Agent Llceneee Agletlnp BuyrNTenan! N sating ae: (Check applicable) 8eilerell.andlord'e Agent BuyerelTenant'e Agent Deelgnatsd BeAer'dLandlold'e Agent (8upervising Broker ads as Transaction Broker) Dalgnated Buyer'alTenent'sAgant (Supervising Broker ads u Trenseotion Broker) Trensadion Broker Disabled Dual Agent (M/asoud onl~Diac/osed Dual ApencyAddendum is nqulnd WA, Buyer(s) is not represented Bub Agent PAYMENT OF COMMI8810N: All Iicenteee(s) Indicated above will be geld a commission at dosing otthe sale of the property as totiowa; (check appllcebls paragreph) ~' ~ Seller/LsndloN to Pay all Lloanaew. All Licenseea(s) wiN be paid from the 8eller'a funds at dosing according to the terms of the LlsUng or other Commission Agreement. ^ Buy~rlTenaM to Pay Buyer's Agent. 8ellerlLendlord'e Licensee, if any, will be geld from the 8sller'e Lunde at dosing aooording to the terms of the Listing Agrosment. Buyer/Tenant'a Agent will be paid from the Buyer's funds according to the tsnns of the Buyer/Tenant l~snoy Agreement. CAREFULLY READ THE TERMS HEREOF BEFORE 810NING. WHEN 81GNED BY ALL PARTIES, THIS DOCUMENT EECOMEB PART OF A LEGALLY BINDING CONTRACT. IP NOT UNDERSTOOD, CONSULT AN ATTORNEY BEFORE 810NING. THE PARTIES EXECUTING THIS CONTRACT REPRESENT AND WARRANT THAT THEY ARE LEGALLY AUTHORIZED TO 00 80. -~ ` LloensNa herd a liy that they are Ilansed to sell nal a In the etas In whl h P rty le located. BEtlERILANDLORD DATE BUYERRENANT DATE 8ELLE PATE .3-i~-ia LICEN8EE A8818TIN0 8ELLERILANDLORD DATE BUYERITENANT DATE LICEN8Ei: A8818TRV0 BUYER/TENANT DATts e~epp~ wl~idlgr o~nidpwoy of fhl~ CoMrsat, ~~~oonmpA~a In every ntp~at wltlr~l w a t~h ~ uw NipproprMte for np ~Mwtbn~ Loal law au~tom~ end pnopon,ind dMrerlnp olraumetenoa In sash tnraeotbn may didete the amendments to this Contreot be made. Copyright .Mousy 2010. l.elt rwlNd ONa4. NI prwlow versions of 1Mt document may no longer t» wild. PAMed UNno Patiteeelonel CempuMr Pon+a Ca On{Jm Penn aeawen f m01 Recorded in Platte County, Missouri Recording DatelTime:04/08/2010 at 02:32:58 PM Instr Number: 2010004052 ~'"""'' ,~ Oea OFO'= Book: 1155 Page: 503 `` oP : ` Q ~ ' N , ~ Type: DE AFFT ~ : ~ ' ' ~ _ Pages: g . _9 .~o ~ ~ Fee: $30.00 S ~co ••~\y5~`~ UNTI, ~~~ Electronically Recorded ccoRia soveR Recorder of Deeds (Space Above This Line Reserved for Recording Data) Title of Document: Scrivener's Error Affidavit KC-IT-6998-10 Date of Document: Grantor: , Grantor's Address: Grantees: Grantee's Address: Legal Description: Apri16, 2010. LaVonne Gibson aka Laura LaVonne Gibson, L. LaVonne Gibson Beginning at the Northwest corner of the said QuarterQuarter section; thence South 89 degrees, 0 minutes, 21 seconds East, along the North line thereof, 265.0, feet; thence South 0 degrees, 27 . minutes, 19 seconds West, 285.0 feet; thence. South 18 degrees, 01 minutes, 58 seconds East, 228.35 feet; thence South 44 degrees East, 225.0 feet; thence North 89 degrees, 0 minutes, 21 seconds West, 495.0 feet, thence North 0 degrees, 27 minutes, 19 seconds East, along the West line of the subject Qaarter Quarter section, 660.0 feet to the point of beginning. Ai~ter recording, return original to: ]ntegrity Land 'title Company, Inc: 4151 N. Mulberry Dr, Ste 270 Kansas City, MO 64116 N1A All that part of the North half of the Northeast Quarter of the Northwest Quarter of Section 4, ~ Township 50, Range 33, Riverside, Platte County, Missouri described as follows: Electronic Recording O-~ginai ument Filed Boo r age'--~---~. (Space Above This Line Reserved for Recording Data) KC-IT-6998-10 Title of Document: Scrivener's Error Affidavit Date of Document: April 6, 2010 Grantor: LaVonne Gibson aka Laura LaVonne Gibson, L. LaVonne Gibson and Laura LaV nne Gibso -Brooks, a in le person Grantor's Address: '1~ ~ ~ ~ n y' /~1 Grantees: N/A (~y J i Grantee's Address: N/A Legal Description: All that part of the North half of the Northeast Quarter of the Northwest Quarter of Section 4, Township 50, Range 33, Riverside, Platte County, Missouri described as follows: Beginning at the Northwest corner of the said Quarter Quarter section; thence South 89 degrees, 0 minutes, 21 seconds East, along the North line thereof, 265.0 feet; thence South 0 degrees, 27 minutes, 19 seconds West, 285.0 feet; thence South 18 degrees, O1 minutes, 58 seconds East, 228.35 feet; thence South 44 degrees East, 225.0 feet; thence North 89 degrees, 0 minutes, 21 seconds West, 495.0 feet, thence North 0 degrees, 27 minutes, 19 seconds East, along the West line of the subject Quarter Quarter section, 660.0 feet to the point of beginning. After recording, return original to: Integrity Land Title Company, Inc. 4151 N. Mulberry Dr, Ste 270 Kansas City, MO 64116 SCRIVENER'S ERROR AFFIDAVIT KC-IT-6998-10 LaVonne Gibson aka Laura LaVonne Gibson, L. LaVonne Gibson and Laura LaVonne Gibson- Brooks served as the scrivener of: 1) Warranty Deed filed November 29, 1975, in Book 473 at Page 273 in Platte County, Missouri. 2) Collector's Deed filed September 25, 1990 in Book 746 at Page 751 together with a Warranty Deed on September 25, 1990 in Book 746 at Page 752 in Platte County, Missouri. Said Deeds contain the following erroneous legal description: All that part of the North half of the Northeast Quarter of the Northwest Quarter of Section 4, Township 50, Range 33, Riverside, Platte County, Missouri described as follows: Beginning at the Northwest corner of the said Quarter Quarter section; thence South 89 degrees, 0 minutes, 21 seconds East, along the North line thereof, 265.0 feet; thence South 0 degrees, 27 minutes, 19 seconds West, 285.0 feet; thence South 18 degrees, O1 minutes, 58 seconds East, 228.35 feet; thence South 44 degrees West, 225.0 feet; thence North 89 degrees, 0 minutes, 21 seconds West, 495.0 feet, thence North 0 degrees, 27 minutes, 19 seconds East, along the West line of the subject Quarter Quarter section, 660.0 feet to the point of beginning. The above-written legal description in said Deeds was not correct in that the actual legal description should have been: All that part of the North half of the Northeast Quarter of the Northwest Quarter of Section 4, Township 50, Range 33, Riverside, Platte County, Missouri described as follows: Beginning at the Northwest corner of the said Quarter Quarter section; thence South 89 degrees, 0 minutes, 21 seconds East, along the North line thereof, 265.0 feet; thence South 0 degrees, 27 minutes, 19 seconds West, 285.0 feet; thence South 18 degrees, Ol minutes, 58 seconds East, 228.35 feet; thence South 44 degrees East, 225.0 feet; thence North 89 degrees, 0 minutes, 21 seconds West, 495.0 feet, thence North 0 degrees, 27 minutes, 19 seconds East, along the West line of the subject Quarter Quarter section, 660.0 feet to the point of beginning. Parcel ID #: 23-2.0-04-200-001-003-000 2 IN WITNESS WHEREOF, the said grantor has or have caused these presents to by signed by their seal affixed ~. X ~ i; =~ ,tom-~'U La onne Gibson aka Laura LaVonne Gibson, L. LaVonne Gibson and Laura LaVonne Gibson-Brooks STATE OF MISSOURI ) SS COUNTY OF CLAY 1 ~~~ On this day of April, 2010, before me personally appeared LaVonne Gibson aka Laura LaVonne Gibson, L. LaVonne Gibson and Laura LaVonne Gibson-Brooks, a single person, described in and who executed the foregoing instrument on its behalf, and acknowledged that he/she executed the same as his/her free act and deed and the free act and deed of said company. IN TESTIMONY WHEREOF, I have hereunto set my hand and affixed my official seal in the County and State aforesaid, the day and year en above. 1. / ~~ Public ll `` Printed Name: My Commission expires: U Z3 l ~, EMILY JONES Notary Public, Notary Seal State of Missouri Jackson County Commission # 08607330 My Commission Expires October 23, 2012 Recorded in Platte County, Missouri Recording DatelTime:04/08/2010 at 02:32:58 PM Instr Number: 2010004053 ''"""'' ~~oPpER OF~'- Book: 1.155 Page: 504 ` , ~~•. •-FFO: @: ' N Type: TR WD ~ : : e Pages: 2 =9~j:• ' o 5 Fee: $27.00 S ~ F~' • •~\5 ~` ~' ~UNTV, ~ ~~'~an u, ~ ~ ~ • Electronically Recorded GLORIA BOYER Recorder of Deeds KGIT-6998-10 ~ 1 . ~ GENERAL WARRANTY DEED ~ ~~y~ T~~'~P (INDIVIDUAL) J ~~ THIS DEED, Made and entered into on the ~~ay of April, 2010,by and between Grantor: LaVonne Gibson aka Laura LaVonne Gibson. L. LaVonne Gibson and Laura LaVonne Gibso -Brooks a si le erson • Address: ~d ~~f Q ! County of ,State of Missouri, an , Grantee: City of Riverside. Missouri Address: Part NE 1i4 NW 114 4-50-33. Riverside. MO County of Pla e, State of Missouri, , } Mailing Address :,,~qh U N UV ~ I Vi lm ~ ~~ fL WTTNESSETH, that the said grantor, for and in consideration of the sum of One Dollar and other valuable considerations paid by the said grantee, the receipt of which is hereby acknowledged, does or do by these presents GRANT, BARGAIN, AND SELL, CONVEY AND CONFIRM-unto the said grantee, the following described Real Estate, situated in the County of Platte, State of Missouri as to-wit: Legal Description: All that part of the North half of the Northeast Quarter of the Northwest Quarter of Section 4, Township 50, Range 33, Riverside, Platte County, Missouri described as follows: Beginning at the Northwest corner of the said Quarter Quarter section; thence South 89 degrees, 0 minutes, 21 seconds East, along the North line thereof, 265.0 feet; thence South 0 degrees, 27 minutes, l9 seconds West, 285.0- feet; thence South 18 degrees, 01 minutes, 58 seconds )vast, 228.35 feet; thence South 44 degrees East, 225.0 feet; thence North 89 degrees, 0 minutes, 21 seconds West, 495.0 feet, thence North 0 degrees, 27 minutes, l9 seconds East, along the West line of the subject Quarter Quarter section, 660.0 feet to the point of beginning. TO HAVE AND TO HOLD the same, together with all rights and appurtenances to the same belonging, unto the said grantee, and to the heirs and assigns of such party or parties forever. E=lectronic Recording Origin current File l Bo~o~~ p KC-IT-699&10 GENERAL WARRANTY DEED ~~? `/~~Ct~~, ~~'~ (INDNIDUAL) ,J THIS DEED, Made and entered into on the ~,,,~ clay of April, 2010,by and between Grantor: LaVonne Gibson aka Laura LaVonne Gibson, L. LaVonne Gibson and Laura Address v ~~ /~ ,N ~~ ~ (~. ytil ~ ~~. ~1 ~ tn~1 Q ~ County of / ,State of Missouri, an , Grantee: City of Riverside, Missouri Address: Part NE 1/4 NW 1/4 4-50-33, Riverside, MO County of Platte, State of Missouri, /~ ,. Mailing Address : C ~ U IV' i/~, 1~ I Vl C~ ~ K- Gl ~ WITNESSETH, that the said grantor, for and in consideration of the sum of One Dollar and other valuable considerations paid by the said grantee, the receipt of which is hereby acknowledged, does or do by these presents GRANT, BARGAIN, AND SELL, CONVEY AND CONFIRM unto the said grantee, the following described Real Estate, situated in the County of Platte, State of Missouri as to- wit: Legal Description: All that part of the North half of the Northeast Quarter of the Northwest Quarter of Section 4, Township 50, Range 33, Riverside, Platte County, Missouri described as follows: Beginning at the Northwest corner of the said Quarter Quarter section; thence South 89 degrees, 0 minutes, 21 seconds East, along the North line thereof, 265.0 feet; thence South 0 degrees, 27 minutes, l9 seconds West, 285.0 feet; thence South 18 degrees, O1 minutes, 58 seconds East, 228.35 feet; thence South 44 degrees East, 225.0 feet; thence North 89 degrees, 0 minutes, 21 seconds West, 495.0 feet, thence North 0 degrees, 27 minutes, l9 seconds East, along the West line of the subject Quarter Quarter section, 660.0 feet to the point of beginning. TO HAVE AND TO HOLD the same, together with all rights and appurtenances to the same belonging, unto the said grantee, and to the heirs and assigns of such party or parties forever. The said grantor party hereby covenanting that said party or parties and the heirs, executors and administrators of such party or parties, shall and will WARRANT AND DEFEND the title to the premises unto the said grantee, and to the heirs and assigns of such party or parties forever, against the lawful claims of all persons whomsoever, excepting, however, the,general taxes for the calendar year 2010 and thereafter, and special taxes becoming a lien after the date of this deed WITNESS WHEREOF, the said grantor has or have hereunto set their hand or hands the day and year first above written. Grantors: ,~,~ ;~ L onne Gibson a/k/a Laura LaVonne Gibson, L. LaVonne Gibson and Laura LaVonne Gibson-Brooks COUNTY OF Clay ss. STATE OF MO )~ On this ~ of , 2010, who personally appeared LaVonne Gibson aka Laura LaVonne Gibson, L. LaVonne Gibson and Laura LaVonne Gibson-Brooks, a single person, Grantors described in and who executed the foregoing instrument, and acknowledged that they executed the same as their free act and deed. IN TESTIMONY WHEREOF, I have hereunto set my hand and affixed official seal in the County and State aforesaid, the day and year fi st Bove v~ritten. My Commission Expires: ~l~tary`Public .... EMILY JONES Notary Public, Notary Seai State of Missouri Jackson County Commission # 08607330 My Commission Expires October 23, 2012 OWNERS POLICY OF TITLE INSURANCE Issued By POLICY NUMBER M01408895-OP Agents National Title Insurance i~~~~~~~~~i~~~r~ Agents National Title Insurance Company 1207 West Broadway Suite C Columbia, MO 65203 573-442-3351 Fax 573-442-3927 vwvw.AgentsTitle.com SUBJECT TO THE EXCLUSIONS FROM COVERAGE, THE EXCEPTIONS FROM COVERAGE CONTAINED IN SCHEDULE B, AND THE CONDITIONS, AGENTS NATIONAL TITLE, a Missouri corporation (the "Company') insures, as of Date of Policy and, to the extent stated in Covered Risks 9 and 10, after Date of Policy, against loss or damage, not exceeding the Amount of Insurance, sustained or incurred by the Insured by reason of: 1. Title being vested other than as stated in Schedule A. 2. Any defect in or lien or encumbrance on the Title. This Covered Risk includes but is not limited to insurance against loss from (a) A defect in the Title caused by (i) forgery, fraud, undue influence, duress, incompetency, incapacity, or impersonation; (ii) failure of any person or Entity to have authorized a transfer or conveyance; (iii) a document affecting Title not properly created, executed, witnessed, sealed, acknowledged, notarized, or delivered; (iv) failure to perform those acts necessary to create a document by electronic means authorized by law; (v) a document executed under a falsified, expired, or otherwise invalid power of attorney; (vi) a document not properly filed, recorded, or indexed in the Public Records including failure to perform those acts by electronic means authorized by law; or (vii) a defective judicial or administrative proceeding. (b) The lien of real estate taxes or assessments imposed on the Title by a governmental authority due or payable, but unpaid. (c) Any encroachment, encumbrance, violation, variation, or adverse circumstance affecting the Title that would be disclosed by an accurate and complete land survey of the Land. The term "encroachment" includes encroachments of existing improvements located on the Land onto adjoining land, and encroachments onto the Land of existing improvements located on adjoining land. 3. Unmarketable Title. 4. No right of access to and from the Land. 5. The violation or enforcement of any law, ordinance, permit, or governmental regulation (including those relating to building and zoning) restricting, regulating, prohibiting, or relating to (a) the occupancy, use, or enjoyment of the Land; (b) the character, dimensions, or location of any improvement erected on the Land; (c) the subdivision of land; or (d) environmental protection if a notice, describing any part of the Land, is recorded in the Public Records setting forth the violation or intention to enforce, but only to the extent of the violation or enforcement referred to in that notice. 6. An enforcement action based on the exercise of a governmental police power not covered by Covered Risk 5 if a notice of the enforcement action, describing any part of the Land, is recorded in the Public Records, but only to the extent of the enforcement referred to in that notice. 7. The exercise of the rights of eminent domain if a notice of the exercise, describing any part of the Land, is recorded in the Public Records. 2006 ALTA Owners Policy of Title Insurance: Issued by Agents National Title Insurance Company Page 1 of 4 8. Any taking by a governmental body that has occurred and is binding on the rights of a purchaser for value without Knowledge. 9. Title being vested other than as stated in Schedule A or being defective (a) as a result of the avoidance in whole or in part, or from a court order providing an alternative remedy, of a transfer of all or any part of the title to or any interest in the Land occurring prior to the transaction vesting Title as shown in Schedule A because that prior transfer constituted a fraudulent or preferential transfer under federal bankruptcy, state insolvency, or similar creditors' rights laws; or (b) because the instrument of transfer vesting Title as shown in Schedule A constitutes a preferential transfer under federal bankruptcy, state insolvency, or similar creditors' rights laws by reason of the failure of its recording in the Public Records (i) to be timely, or (ii) to impart notice of its existence to a purchaser for value or to a judgment or lien creditor. 10. Any defect in or lien or encumbrance on the Title or other matter included in Covered Risks 1 through 9 that has been created or attached or has been filed or recorded in the Public Records subsequent to Date of Policy and prior to the recording of the deed or other instrument of transfer in the Public Records that vests Title as shown in Schedule A. The Company will also pay the costs, attorneys' fees, and expenses incurred in defense of any matter insured against by this Policy, but only to the extent provided in the Conditions. Attest: ..•~"' President EXCLUSIONS FROM COVERAGE The following matters are expressly excluded from the coverage of this policy, and the Company will not pay loss or damage, costs, attorneys' fees, or expenses that arise by reason of: 1. (a) Any law, ordinance, permit, or governmental regulation (including those relating to building and zoning) restricting, regulating, prohibiting, or relating to (i) the occupancy, use, or enjoyment of the Land; (ii) the character, dimensions, or location of any improvement erected on the Land; (iii) the subdivision of land; or (iv) environmental protection; or the effect of any violation of these laws, ordinances, or governmental regulations. This Exclusion 1(a) does not modify or limit the coverage provided under Covered Risk 5. (b) Any governmental police power. This Exclusion 1(b) does not modify or limit the coverage provided under Covered Risk 6. 2. Rights of eminent domain. This Exclusion does not modify or limit the coverage provided under Covered Risk 7 or 8. 3. Defects, liens, encumbrances, adverse claims, or other matters (a) created, suffered, assumed, or agreed to by the Insured Claimant; (b) not Known to the Company, not recorded in the Public Records at Date of Policy, but Known to the Insured Claimant and not disclosed in writing to the Company by the Insured Claimant prior to the date the Insured Claimant became an Insured under this policy; (c) resulting in no loss or damage to the Insured Claimant; (d) attaching or created subsequent to Date of Policy (however, this does not modify or limit the coverage provided under Covered Risk 9 and 10); or (e) resulting in loss or damage that would not have been sustained if the Insured Claimant had paid value for the Title. 4. Any claim, by reason of the operation of federal bankruptcy, state insolvency, or similar creditors' rights laws, that the transaction vesting the Title as shown in Schedule A, is (a) a fraudulent conveyance or fraudulent transfer; or (b) a preferential transfer for any reason not stated in Covered Risk 9 of this policy. 5. Any lien on the Title for real estate taxes or assessments imposed by governmental authority and created or attaching between Date of Policy and the date of recording of the deed or other instrument of transfer in the Public Records that vests Title as shown in Schedule A. 2006 ALTA Owners Policy of Title Insurance: Issued by Agents National Title Insurance Company M01408895-OP page 2 of 4 Agents National Title Insurance Company SCHEDULE A File Number: KC-IT-6998-10 Amount of Insurance: $ 32,000.00 Policy Number: M01408895-OP Premium: $ 104.00 Date of Policy: April 8, 2010 at 02:32 PM 1. Name of Insured: City of Riverside 2. The estate or interest in the land which is covered by this policy is: Fee Simple 3. Title to the estate or interest in the land is vested in: City of Riverside 4. The land referred to in this policy is described as follows: SEE EXHIBIT A ATTACHED HERETO INTEGR~IT/Y LAND TITLE COMPANY, INC. By: N ~~~~ INTEGRITY LAND TITLE COMPANY, INC. ALTA Owner's Policy Schedule A (10/17/92) (KC-IT-6998-10.PFD/KC-IT-6998-10/23) Agents National Title Insurance Company SCHEDULE B File Number: KC-IT-6998-10 Policy Number: M01408895-OP 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: 7. Subject to an easement in favor of City of Kansas City as set forth in instrument recorded 09/03/1968 in Book 318 at page 206 and Book 318 at page 207. 8. Subject to an easement for Right-of-Way in favor of The Gas Service Company as set forth in instrument recorded in Book 385 at page 46, as Document No. 36552, and modified by the instrument recorded in Book 475 at page 161. 9. Subject to an easement for Sewer in favor of City of Riverside as set forth in instrument recorded 05/19/1972 in Book 385 at page 198, as Document No. 36609. 10. Subject to an easement for Sewer in favor of City of Riverside as set forth in instrument recorded 06/12/1973 in Book 416 at page 535, as Document No. 43247. 11. Terms and provisions of the Protective Covenants as set forth in the instrument recorded 10/16/75 in Book 473 at page 273, as Document No. 13375. 12. Subject to an easement in favor of City of Riverside as set forth in instrument recorded 09/19/1991 in Book 760 at page 53, as Document No. 009878. 13. The property in question lies within the boundaries of the Parkville Special Road District and is subject to assessments by reason thereof. 14. The property in question lies within the boundaries of the Line Creek Sewage Improvement District and is subject to assessments by reason thereof. 15. The property in question lies within the boundaries of the Riverside-Quindro Levee District and is subject to assessments by reason thereof. 16. The lien of taxes for the year 2010 and thereafter, none now due and payable. ALTA Owner's Policy Schedule B (10/17/92) (KC-IT-6998-10.PFD/KC-IT-6998-10/23) EXHIBIT A File Number: KC-IT-6998-10 Policy Number: MO1408895-OP All that part of the North half of the Northeast Quarter of the Northwest Quarter of Section 4, Township 50, Range 33, Riverside, Platte County, Missouri described as follows: Beginning at the Northwest corner of the said Quarter Quarter section; thence South 89 degrees, 0 minutes, 21 seconds East, along the North line thereof, 265.0 feet; thence South 0 degrees, 27 minutes, 19 seconds West, 285.0 feet; thence South 18 degrees, 01 minutes, 58 seconds East, 228.35 feet; thence South 44 degrees East, 225.0 feet; thence North 89 degrees, 0 minutes, 21 seconds West, 495.0 feet, thence North 0 degrees, 27 minutes, 19 seconds East, along the West line of the subject Quarter Quarter section, 660.0 feet to the point of beginning. ALTA Owner's Policy Exhibit A (KC-IT-6998-10.PFD/KC-IT-6998-10/23) CONDITIONS AND STIPULATIONS DEFINITION OF TERMS The following terms when used in this policy mean. (a) "Amount of Insurance": The amount stated in Schedule A, as may be increased or decreased by endorsement to this policy, increased by Section 8(b), or decreased by Sections 10 and 11 of these Conditions. (b) "Date of Policy": The date designated as "Date of Policy" in Schedule A. (c) "Entity": A corporation, partnership, trust, limited liability company, or other similar legal entity. (d) "Insured": The Insured named in Schedule A. (i) the term "Insured" also includes (A) successors to the Title of the Insured by operation of law as distinguished from purchase, including heirs, devisees, survivors, personal representatives, or next of kin; (B) successors to an Insured by dissolution, merger, consolidation, distribution, or reorganization; (C) successors to an Insured by its conversion to another kind of Entity, (D) a grantee of an Insured under a deed delivered without payment of actual valuable consideretion conveying the Title (1) if the stock, shares, memberships, or other equity interests of the grantee are wholly-owned by the named Insured, (2) if the grantee wholly owns the named Insured, (3) if the grantee is wholly-owned by an affiliated Entity of the named Insured, provided the affiliated Entity and the named Insured are both wholly-owned by the same person or Entity, or (4) if the grantee is a trustee or beneficiary of a trust created by a written instrument established by the Insured named in Schedule A for estate planning purposes. (ii) with regard to (A), (B), (C), and (D) reserving, however, all rights and defenses as to any successor that the Company would have had against any predecessor Insured. (e) "Insured Claimant": An Insured claiming loss or damage. (f) "Knowledge" or "Known": Actual knowledge, not constructive knowledge or notice that may be imputed to an Insured by reason of the Public Records or any other records that impart constructive notice of matters affecting the Title. (g) "Land": The land described in Schedule A, and affxed improvements that by law constitute real property. The term "Land" does not include any properly beyond the lines of the area described in Schedule A, nor any right, title, interest, estate, or easement in abutting streets, roads, avenues, alleys, lanes, ways, or waterways, but this does not modify or limit the event that a right of access to and from the Land is insured by this policy. (h) "Mortgage": Mortgage, deed of trust, trust deed, or other security instrument, including one evidenced by electronic means authorized bylaw. (i) "Public Records": Records established under state statutes at Date of Policy for the purpose of imparting constructive notice of matters relating to real property to purchasers for value and without Knowledge. With respect to Covered Risk 5(d), "Public Records" shall also include environmental protection liens fled in the records of the clerk of the United States District Court for the district where the Land is located. (j) "Title": The estate or interest described in Schedule A. (k) "Unmarketable Title": Title effected by an alleged or apparent matter that would permit e prospective purchaser or lessee of the Title or lender on the Title to be released from the obligation to purchase, lease, or lend if there is a contractual condition requiring the delivery of marketable title. 2. CONTINUATION OF INSURANCE AFTER CONVEYANCE OF TITLE The coverage of this policy shall continue in force as of Date of Policy in favor of an Insured, but only so long as the Insured retains en estate or interest in the Land, or holds an obligation secured by a purohase money Mortgage given by a purchaser from the Insured, or only so long as the Insured shall have liability by reason of warranties in any trensfer or conveyance of the Title. This policy shall not continue in force in favor of any purchaser from the Insured of either (i) an estate or interest in the Land, or (ii) an obligation secured by a purchase money Mortgage given to the Insured. 3. NOTICE OF CLAIM TO BE GIVEN BY INSURED CLAIMANT The Insured shall notify the Company promptly in writing (i) in case of any litigation as set forth in Section 5(a) of these Conditions, (ii) in case Knowledge shall come to an Insured hereunder of any claim of title or interest that is adverse to the Title, as insured, and that might cause loss or damage for which the Company may be liable by virtue of this policy, or (iii) if the Title, as insured, is rejected as Unmarketable Title. If the Company is prejudiced by the failure of the Insured Claimant to provide prompt notice, the Company's liability to the Insured Claimant under the policy shall be reduced to the eMent of the prejudice. 4. PROOF OF LOSS In the event the Company is unable to determine the amount of loss or damage, the Company may, at its option, require as a condition of payment that the Insured Claimant fumish a signed proof of loss. The proof of loss must describe the defect, lien, encumbrance, or other matter insured against by this policy that constitutes the basis of loss or damage and shall state, to the extent possible, the basis of calculating the amount of the loss or damage. 5. DEFENSE AND PROSECUTION OF ACTIONS (a) Upon written request by the Insured, and subject to the options contained in Section 7 of these Conditions, the Company, at its own cost and without unreasonable delay, shall provide for the defense of an Insured in litigation in which any third party asserts a claim covered by this policy adverse to the Insured. This obligation is limited to only those stated causes of action alleging matters insured against by this policy. The Company shall have the right to select counsel of its choice (subject to the right of the Insured to object for reasonable cause) to represent the Insured as to those stated causes of action. It shall not be liable for and will not pay the fees of any other counsel. The Company will not pay any fees, costs, or expenses incurred by the Insured in the defense of those causes of action that allege matters not insured against by this policy. (b) The Company shall have the right, in addition to the options contained in Section 7 of these Conditions, at its own cost, to institute and prosecute any action or proceeding or to do any other act that in its opinion may be necessary or desirable to establish the Title, as insured, or to prevent or reduce loss or damage to the Insured. The Company may take any appropriate action under the terms of this policy, whether or not it shall be liable to the Insured. The exercise of these rights shell not be an admission of liability or waiver of any provision of this policy. If the Company exercises its rights under this subsection, it must do so diligently. (c) Whenever the Company brings an action or asserts a defense as required or permitted by this policy, the Company may pursue the litigation to a final determination by a court of competent jurisdiction, and it expressly reserves the right, in its sole discretion, to appeal any adverse judgment or order. 8. DUTY OF INSURED CLAIMANT TO COOPERATE (a) In all cases where this policy permits or requires the Company to prosecute or provide for the defense of any action or proceeding and any appeals, the Insured shall secure to the Company the right to so prosecute or provide defense in the action or proceeding, incuding the right to use, at its option, the name of the Insured for this purpose. Whenever requested by the Company, the Insured, at the Company's expense, shall give the Company all reasonable aid (i) in securing evidence, obtaining witnesses, prosecuting or defending the action or proceeding, or effecting settlement, and (ii) in any other lawful act that in the opinion of the Company may be necessary or desirable to establish the Tilla or any other matter as insured. If the Company is prejudiced by the failure of the Insured to fumish the required cooperation, the Company's obligations to the Insured under the policy shall terminate, including any liability or obligation to defend, prosecute, or continue any litigation, with regard to the matter or matters requiring such cooperation. (b) The Company may reasonably require the Insured Claimant to submit to examination under oath by any authorized representative of the Company and to produce for examination, inspection, and copying, at such reasonable times and places as may be designated by the authorized representative of the Company, all records, in whatever medium maintained, including books, ledgers, checks, memoranda, correspondence, reports, e-mails, disks, tapes, and videos whether bearing a date before or after Date of Policy, that reasonably pertain to the loss or damage. Further, if requested by any authorized representative of the Company, the Insured Claimant shall grant its permission, in writing, for any authorized representative of the Company to examine, inspect, and copy all of these records in the custody or control of a third party that reasonably pertain to the loss or damage. All information designated as confdential by the Insured Claimant provided to the Company pursuant to this Section shall not be disclosed to others unless, in the reasonable judgment of the Company, it is necessary in the administration of the Gaim. Failure of the Insured Claimant to submit for examination under oath, produce any reasonably requested information, or grant permission to secure reasonably necessary infortnalion from third parties as required in this subsection, unless prohibited by law or governmental regulation, shall terminate any liability of the Company under this policy as to that claim. 7. OPTIONS TO PAY OR OTHERWISE SETTLE CLAIMS; TERMINATION OF LIABILITY In case of a claim under this policy, the Company shall have the following additional options: (a) To Pay or Tender Payment of the Amount of Insurance. To pay or tender payment of the Amount of Insurance under this policy together with any costs, attomeys' fees, and expenses incurred by the Insured Claimant that were authorized by the Company up to the time of payment or tender of payment and that the Company is obligated to pay. Upon the exercise by the Company of this option, all liability and obligations of the Company to the Insured under this policy, other than to make the payment required in this subsection, shall terminate, including any liability or obligation to defend, prosecute, or continue any litigation. (b) To Pay or Otherwise Settle Wilh Parties Other Than the Insured or With the Insured Claimant. (i) to pay or otherwise settle with other parties for or in the name of an Insured Claimant any claim insured against under this policy. In addition, the Company will pay any costs, attomeys' fees, and expenses incured by the Insured Claimant that were authorized by the Company up to the time of payment and that the Company is obligated to pay; or (ii) to pay or otherwise settle with the Insured Claimant the loss or damage provided for under this policy, together with any costs, attomeys' fees, and expenses incured by the Insured Claimant that were authorized by the Company up to the time of payment and that the Company is obligated to pay. Upon the exercise by the Company of either of the options provided for in subsections (b)(i) or (ii), the Company's obligations to the Insured under this policy for the claimed loss or damage, other than the payments required to be made, shall terminate, including any liability or obligation to defend, prosecute, or continue any litigation. 2006 ALTA Owners Policy of Title Insurance: Issued by Agents National Title Insurance Company M01408895-OP Page 3 of 4 DETERMINATION AND EXTENT OF LIABILITY This policy is a contract of indemnity against actual monetary loss or damage sustained or incurred by the Insured Claimant who has suffered loss or damage by reason of matters insured against by this policy. (a) The eMent of liability of the Company for loss or damage under this policy shall not exceed the lesser of (i) the Amount of Insurance; or (ii) the difference between the value of the Title as insured and the value of the Title subject to the risk insured against by this policy. (b) If the Company pursues its rights under Section 5 of these Conditions and is unsuccessful in establishing the Title, as insured, (i) the Amount of Insurance shall be increased by 10%, and (ii) the Insured Claimant shall have the right to have the loss or damage determined either as of the date the claim was made by the Insured Claimant or as of the date it is settled and paid. (c) In addition to the extent of liability under (a) and (b), the Company will also pay those costs, attomeys' fees, and expenses incurred in accordance with Sections 5 and 7 of these Conditions. LIMITATION OF LIABILITY (a) Ii the Company establishes the Title, or removes the alleged defect, lien, or encumbrance, or cures the lack of a right of access to or from the Land, or cures the claim of Unmarketable Title, all as insured, in a reasonably diligent manner by any method, including litigation and the completion of any appeals, it shall have fully performed its obligations with respect to that matter and shall not be liable for any loss or damage caused to the Insured. (b) In the event of any litigation, including litigation by the Company or with the Company's consent, the Company shall have no liability far loss or damage until there has been a final determination by a court of competent jurisdiction, and disposition of all appeals, adverse to the Title, es insured. (c) The Company shall not be liable for loss or damage to the Insured for liability voluntarily assumed by the Insured in settling any claim or suit without the prior written consent of the Company. 10. REDUCTION OF INSURANCE; REDUCTION OR TERMINATION OF LIABILITY All payments under this policy, except payments made for costs, attorneys' fees, and expenses, shall reduce the Amount of Insurance by the amount of the payment. 11. LIABILITY NONCUMULATIVE The Amount of Insurance shall be reduced by any amount the Company pays under any policy insuring a Mortgage to which exception is taken in Schedule B or to which the Insured has agreed, assumed, or taken subject, or which is executed by an Insured after Date of Policy and which is a charge or lien on the Title, and the amount so paid shall be deemed a payment to the Insured under this policy. 12. PAYMENT OF LOSS When liability and the eMent of loss or damage have been definitely fixed in accordance with these Conditions, the payment shall be made within 30 days. 13. RIGHTS OF RECOVERY UPON PAYMENT OR SETTLEMENT (a) Whenever the Company shall have settled and paid a claim under this policy, it shall be subrogated and entitled to the rights of the Insured Claimant in the Title and all other rights and remedies in respect to the claim that the Insured Claimant has against any person or property, to the eMent of the amount of any loss, costs, attomeys' fees, and expenses paid by the Company. If requested by the Company, the Insured Claimant shall execute documents to evidence the transfer to the Company of these rights and remedies. The Insured Claimant shall permit the Company to sue, compromise, or settle in the name of the Insured Claimant and to use the name of the Insured Claimant in any transaction or litigation involving these rights and remedies. If a payment on account of a claim does not fully cover the loss of the Insured Claimant, the Company shall defer the exercise of its right to recover until after the Insured Claimant shall have recovered its loss. (b) The Company's right of subrogation includes the rights of the Insured to indemnities, guaranties, other policies of insurance, or bonds, notwithstanding any terms or conditions contained in those instruments that address subrogation rights. 14. ARBITRATION (Hereby removed from policies issued in the following state(s): Kansas) Either the Company or the Insured may request that the claim or controversy shall be submitted to arbitration pursuant to the Title Insurance Arbitration Rules of the American Land Title Association ("Rules"). Except as provitled in the Rules, there shall be no joinder or consolidation with claims or controversies of other persons. Arbitrable matters may include, but are not limited to, any controversy or Gaim between the Company and the Insured arising out of or relating to this policy, any service in connection with its issuance or the breach of a policy provision, or to any other controversy or claim arising out of the transaction giving rise to this policy. All arbitrable matters when the Amount of Insurance is $2,000,000 or less shall be arbitrated at the option of either the Company or the Insured. All arbitrable matters when the Amount of Insurance is in excess of $2,000,000 shall be arbitrated only when agreed to by both the Company and the Insured. Arbitration pursuant to this policy and under the Rules shall be non-binding upon the parties and is voluntary. Judgment upon the award rendered by the Arbitrator(s) may be entered in any court of competent jurisdiction. 15. LIABILITY LIMITED TO THIS POLICY; POLICY ENTIRE CONTRACT. (a) This policy together with all endorsements, if any, attached to it by the Company is the entire policy and contract between the Insured and the Company. In interpreting any provision of this policy, this policy shall be construed as a whole. (b) Any claim of loss or damage that arises out of the status of the Title or by any action asserting such claim shall be restricted to this policy. (c) Any amendment of or endorsement to this policy must be in writing and authenticated by an authorized person, or expressly incorporated by Schedule A of this policy. (d) Each endorsement to this policy issued at any time is made a part of this policy and is subject to all of its terms and provisions. Except as the endorsement expressly states, it does not (i) modify any of the terms and provisions of the policy, (ii) modify any prior endorsement, (iii) extend the Date of Policy, or (iv) increase the Amount of Insurance. 16. SEVERABILITY In the event any provision of this policy, in whole or in part, is held invalid or unenforceable under applicable law, the policy shall be deemed not to include that provision or such part held to be invalid, but all other provisions shall remain in full force and effect. 17. NOTICES, WHERE SENT Any notice of claim and any other notice or statement in writing required to be given to the Company under this policy must be given to the Company at 1207 West Broadway Suite C, Columbia, MO 65203. NOTE: Bracketed [ ]material optional 2006 ALTA Owners Policy of Title Insurance: Issued by Agents National Title Insurance Company M01408895-OP Page 4 of 4