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HomeMy WebLinkAboutHerbert, Katherine A 11"" .'" ROBERT W. TASKER OFFICE OF TOWN ATTORNEY '-":,"';'--;"" " TOWN.DF'i'50UTHDLD TOWN ATTORNEY TELEPHONE 477-1400 425 MAIN ST. GREEN PORT. L. I., N. Y. 11944 May 16, 1977 Hon. Judith T. Terry Southold Town Clerk Town Hall Southold, New York 11971 Re: $9,000 Serial Bonds for Purchase of Bathing Beach (Herbert Property at Goose Creek Bridge) Dear Judy: I am enclosing herewith in triplicate the bond resolution in the above matter which is to be adopted at the May 24, 1977 meeting. After adoption, you should retain one copy, certify the other two copies and return them to me. Also enclosed herewith is the estoppel notice which is to be published once in the Town newspapers. After publication you should obtain three affidavits of publication, retaining one and sending the other two to me. It is my understanding that the Town Board purported to authorize this acquisition by the adoption of a resolution at their April 12, 1977 meeting. Since the proper resolution should be a bond resolution, I would suggest that a further resolution be adopted on May 24th revoking and rescinding the prior resolution since it was improper in form. r ')rv1'~"'" ~ \. , -1 \,,(11 ... ( (}~i~ 4 Yours very truly, ROBERT W. TASKER RECEIVED RWT:MY Enclosures MAY 1 ' ,e,F CC: Hon. Albert M. Martocchia SOUTHOlD TOWN 1- fI' " EXTRACT OF MINUTES Meeting of the Town Board of the Town of Southold, in the County of Suffolk, New York. May 24 , 1977 * .* * regular meeting of the Town Board of the Town of A Southold, in the County of Suffolk, New York, was held at the Supervisor', Office, 16 South Street, Greenport, New York, in said Town, on May 24 , 1977, at 3:00 o'clock P .M. (D.S.T.). There were present: Honorable Albert M. Martocchia, Supervisor, and There were absent: Also present: Judi th T. Terry , Town Clerk Robert W. Tasker, Town Attorney * * * offered the following resolution and moved its adoption: ~} OFFIC TO -,- , RNEY LO ROBERT W. TASKER TOWN ATTORNEY TELEPHONE 477..1400 425 MAIN ST. GREENPORT, L. I., N. Y. 11944 July 14, 1977 Hon. Albert M. Martocchia Supervisor of the Town of Southold 53095 Main Street Southo1d, New York 11971 Re: Acquisition of Land at Southold from Herbert Dear Sir: Enclosed herewith is a Closing Statement with respect to the closing of the Herbert parcel on July 13, 1977. Also enclosed is a statement show- ing the disbursement of funds for this purpose. As I previously advised you, all of the proceeds of the bond anticipation note must be either used for the acquisition of the project and if there aFe"any funds remaining they may only be used for debt service. -.-..- Yours very truly, <<! Rod!!:f:;!~ RWT:MY Enclosures CLOSING STATEMENT Purchaser: TOWN OF SOUTHOLD Seller: KATHERINE A. HERBERT Premises: A t the inter section of North Road to Bayview and North Parish Drive, Southold, New York Date: July 13, 1977 Purchase Price ADJUSTMENTS Credit Seller: (1) Southold Town Taxes 1/2 year = Less: Penaltie s Interest $39.30 $3.74 3.93 7.67 $ 31. 63 Credit Purchaser: (1) Recording fees Satisfaction of Cron mortgage Satisfaction of E. L. 1. hospital judgment $ 5.25 10.50 5.25 PAID AS FOLLOWS: (1) Check No.4 of Town of Southold drawn on Chemical Bank, Southold, dated July 13, 1977 to the order of Richard J. Cron, en- dorsed Payment Approved by Katherine A. Herbert (satisfaction of Cron mortgage) $3,500.00 (2) Check No. 3 of Town of Southold drawn on Chemical Bank. Southold. dated July 13. 1977 to the order of E. L. 1. Hospital and George Miller endorsed Payment Approved by Katherine A. Herbert (satisfaction of E. L. 1. Hospital judgment) 686.83 (3) Check No.5 of Town of Southold dated July 13. 1977 to order of Katherine A. Herbert (balance of purchase price) 4.134.30 $8.300.00 21. 13 $8,321. 13 $8.321. 13 ..-- OTHER EXPENSES OF PURCHASE (1) Roderick Van Tuyl. P.C. Survey Check No. 1 $ 75.00 (2) Title Guarantee Company Insurance fee $139.00 Recording deed 5.00 Recording sat. of mortgage 5.25 Recording sat. of judgment 5.25 Check No. 6 154.50 (3) County Treasurer, Suffolk County 1976-77 Southold Town Taxes plus penalties and interest Check No. 2 82.53 . . BOND RESOLUTION OF THE TOWN OF SOUTHOLD, NEW YORK, ADOPTED May 24 , 1977, AUTHORIZING THE ACQUISITION OF CERTAIN LAND SITUATE IN SAID TOWN, FOR RECREATIONAL PURPOSES, STATING THE ESTIMATED MAXIMUM COST THEREOF IS $9,000, APPRO- PRIATING SAID AMOUNT THEREFOR AND AUTHORIZING THE ISSUANCE OF $9,000 SERIAL BONDS OF SAID TOWN TO FINANCE THE BALANCE OF SAID APPROPRIATION. RESOLVED BY THE TOWN BOARD OF THE TOWN OF SOUTHOLD, IN THE COUNTY OF SUFFOLK, NEW YORK (by the favorable vote of not less than two-thirds of all the members of said Board) AS FOLLOWS: Section 1. The Town of Southold (herein called "Town"), in the County of Suffolk, New York, is hereby authorized to acquire the certain piece or parcel of land, situate in the Town, for re- creationalpurposes, said piece or parcel of land being more particularly described by metes and bounds, as follows: BEGINNING at the corner formed by the intersection of the northerly side of North Parish Drive with the easterly side of North Road to Bayview, and from said point of beginning running thence along the easterly side of North Road to Bayview, North 14 degrees 25 minutes 20 seconds West 182.46 feet to land of Town of Southold; running thence along the southerly and westerly side of land of the Town of Southold the following two courses and distances: (1) South 82 degrees 30 minutes 20 seconds East 160.13 feet; (2) South 14 degrees 05 minutes 10 seconds West 178.71 to the North Parish Drive; running thence along the northerly side of North Parish Drive, North 75 degrees 54 minutes 50 seconds West 72.0 feet to the point or place of beginning. BEING and intended to be the same premises conveyed to Katherine A. Herbert, XXNK~X~XEX~~ by deed dated April 4, 1975 and recorded in the Suffolk County Clerk's Office on April 16, 1975 in Liber 7825 of deeds at page 338. . . The estimated maximum cost of said specific object or purpose, in- cluding preliminary costs of maps, plan, surveys and estimates and costs incidental thereto and the financing thereof, is $9,000 and the said amount is hereby appropriated therefor. The plan of finan- cing includes the issuance of $9; 000 serial bonds of the TDwn, to finance said appropriation and the levy and collection of a tax upon all the taxable real property in the 'Town to pay the prin- cipal of and interest on said bonds. Section 2. Pursuant to the provisions of the Local Finance Law, constituting Chapter 33-a of the Consolidated Laws of the State of New York, (herein called "Law"), serial bonds of the ',Town in the principal amount of $9,000 are hereby authorized to be issued to finance said appropriation. Section 3. The following additional matters are hereby determined stated: (a) The period of probable usefulness of the specific object or purpose for which the bonds authorized by this resolution are to be issued, within'the limitations of 511.00 a. 21 of the Law, is thirty (30) years, but the maturity of said bonds herein authorized will not exceed five (5) years. (b) Current funds are not required to be provided as a do\V11 payment prior to the issuance of the bonds herein authorized or of any notes issued in anticipation of the sale of such bonds, pur- suant to the provisions of 5107.00 d. 4. of the Law. Section 4. Each of the serial bonds authorized by this reso- lution and any bond anticipation notes issued in anticipation of the sale of said bonds shall contain the recital of validity pre- scribed by 552.00 of the Law, and said bonds and any notes issued in anticipation of said bonds shall be general obligations of the . . .. . . Town, payable as to both principal and interest by a general tax upon all the taxable real property within the Town without limitation of rate or amount. The faith and credit of the Town are hereby irrevocably pledged to the punctual payment of the principal of and interest of said bonds and provision shall be made annually in the budget of the Town by appropriation for (a) the amortization and redemption of the bonds and any notes in anticipation thereof to mature in such year and (b) the payment of interest to be due and payable in such year. Section 5. Subject to the provisions of this resolution, and of the Law, pursuant to the provisions of ~30.00 relative to the authorization of the issuance of bond anticipation notes, or, the renewals of said Notes and of ~50.00 and ~~56.00 to 60.00 of the Law, the powers and duties of the Town Board relative to authorizing bond anticipation notes and prescribing the terms, form and contents and as to the sale and issuance of the bonds herein authorized and of any bond anticipation notes issued in anticipation of said bonds, and the renewals of said notes, are hereby delegated to the Supervisor, the chief fiscal officer of the Town. Section 6. The validity of the bonds authorized by this resolution and of any notes issued in anticipation of said bonds, may be contested only if: (a) such obligations are authorized for an object or purpose for which the Town is authorized to expend money, or (b) the provisions of the Law which should be complied with at the date of the publication of such resolution, are not substantially complied with, and an action, suit or proceeding contesting such validity is com- menced within twenty days after the date of such publication, or . , . (cl such obligations are authorized in violation of the provisions of the constitution. Section 7. This resolution shall take effect immediately. * * * The adoption of the foregoing resolution was seconded by and duly put to a vote on roll call, which resulted as follows: AYES: NOES: The resolution was declared unanimously adopted. ***** offered the following resolution and moved its adoption: ....., .' , ., RESOLVED BY THE TOI'iN BOARD OF THE TOWN OF SOUTHOLD, IN THE COUNTY OF SUFFOLK, NEW YORK, AS FOLLOWS: Section 1. The Town Clerk is hereby authorized and directed to publish the foregoing bond resolution, in full, in "THE -SCFFOLK TIMES" a newspaper published in Southold, New York, hereby designated as the official newspaper of the Town for such publication, together with a Notice in sub- stantially the form as provided by Section 81.00 of the Local Finance Law of the State of New York. Section 2. This resolution shall take effect immediately. * * * The adoption of the foregoing resolution was seconded by and duly put to a vote on roll call, which resulted as follows: AYES: NOES: The resolution was declared adopted. *** ... .......- .- ,',' ,(-,-,/' ,Ill' I'.'A 7"<>. \' t . r' . ,~... .... ", /~/ "','0""-"-:"- (,i l~ ,~\;:,i:,.~" f-~}'/',:,'ttty<, . <i:',:. , '~ '1 ,~ 1i~!J i:;q'1I~\'. .. I. o FFI C ~~ a~il't::'d~~",'-.r,fo R N EY TO~;O'#;:5~THi6 LD '..:~~{(Fj' " '" "" "~;0"':.;;\ -,I .c?-.., I rtfj. -<";'~'---::':2{l:;#- TELEPHONE 4'77-14DD ". 4... - ROBERT W. TASKER TDWN A TTD R N EY 425 MAIN ST. GREEN PORT, L. I., N. Y. 11944 May 19, 1977 RECEIVED MAY . " 'cr."'.' ., ' I" i,{ ; Mrs. Katherine A. Herbert Main Road Cutchogue, New York 11935 SQUTHOLD TOWN. Re: Town of Southo1d w I Herbert Dear Mrs. Herbert: As you know 1 am handling the purchase of your property at North Parish Avenue on behalf of the Town of Southold. A title search has been made of the property. The title report indicates the following objections which must be taken care of. (1) The 1976-77 Southold Town taxes are unpaid. (2) Two judgments appear of record. One by the New York Telephone Company against a Kathy Herbert of Jackson A venue, New Suffolk in the amount of $88.87 and a second by the Eastern Long Island Hospital against a Bruce Herbert and Katherine Herbert of Bay A venue, Cutchogue in the amount of $582. 17. It may well be that the Telephone Company judgment is not actually against you but a person of a similar name. If this is the case, an affidavit to this effect will remove this objection. As to the Eastern Long Island Hospital judgment, it would appear that this judgment is in fact against you and your husband and must be satisfied. (3) A mortgage held by Richard Cron in the amount of $3, 500. 00. I am advised by Mr. Cron that it is intended that this mortgage will be satisfied at the closing by the payment of a check to him. (4) New York and federal estate taxes against the estate of F. Harold Sayre. With respect to the estate tax questions, I have been in touch with Rensselaer G. Terry who is handling the Sayre estate and he has agreed to submit adequate proof that all taxes have been paid. ~" , '" .... . Mrs. KaLjrine A. Herbert In summ ry, it would seem that the Southold Town taxes and the Eastern Long Island Hospital udgment are the important items which you should take care of in order that the Town will receive marketable title to the property. For your information, I am enclosin~ herewith a copy of the title report setting forth title questions referred to above. -2- May 19, 1977 Yours very truly, ROBER T W. TASKER RWT:MY Enclosur , Icc: Hon. Albert M. Martocchia --, -- RNEY LD ... " ROBERT W. TASKER TOWN ATTORNEY TELEPHONE 477-140D 425 MAIN ST. GREENPDRT, L. I., N. Y. 11944 August 3, 1977 Hon. Judith T. Terry Southald Town Clerk Town Hall Southold, New York 11971 Re: Town of Southold wi Herbert Dear Judy: I enclose herewith The Title Guarantee Company title insurance policy No. 1297178, dated July 13, 1977 insuring the Town of Southold in the amount of $9, 000. 00. Will you please file the policy in your office with the deed from Katherine A. Herbert previously sent to you. In order that I may have a record for my file, will you please acknowledge receipt of the title policy by signing and returning to me the copy of this letter enclosed for that purpose. Yours very truly, ~~ ROBERT W. TASKER RWT:MY Enclosure , '.- OFFIC RNEY LD / .. ROBERT W. TASKER TOWN A TTD R N EY TELEPHONE 477-1400 425 MAIN ST. GREENPDRT, L. I., N. Y. 11944 July 25, 1977 Hon. Judith T. Terry Southold Town Clerk Town Hall Southold, New York 11971 Re: Town of Southolct w / Herbert Dear Judy: I enclose herewith for filing in your office deed dated July 13, 1977 from Katherine A. Herbert to the Town of Southold which deed was recorded July 18, 1977 in the Suffolk County Clerk's Office in Liber 8271 of deeds at page 335. When I receive the title policy, I will forward it to you for filing. In order that I may have a record for my file, will you please acknowledge receipt of the deed by signing and returning to me the copy of this letter enclosed for that purpose. Yours very truly, ~ ROBERT W. TASKER RWT:MY Enclosure . -~_.. ; J.'J / CJ V,-, - i , Q'r 1::< 5, '_.' .", B() -? rl" /'-'-" E. ; l-.,~- ..::. . ,~ , , \"- r',\ \:> ,:, ....... \ .. .~ \) \ ':~ 'i>, "" "- - ~ ~ \ , \ \ \ \. , , \ \ \ \ .- "- ......,. .! ,f _~-?~) i ,.;( .., __A'" .. l:::l l6U' ..... 72.0 .IV. 7.5 0-.,."'5"--1-'. .. ,..) a:, '" ~ (Jl '. -{>. .() r. J l)., ~ ',.' ~ .:: , , C) , '.J <:- ~ , ."" (i) (\ .J \: 'i-, ~-... ~ " ~ , __ 5"D.o eN LV NOR 'TAl /' ~~ \' ....,.. "I I) ,', ''', .~, ", ~ ~ ... ;;:. .1,) [. :;. .~, ,. , I :~, ... \.1- . JO THIS SUI,'YEY IS A VIOlATION Of SICf10H 7209 Of TIff NEW YOI:<< SJAn lDUtAtION LAW. COfIES OF THIS SURVn< ........P NOT BEARING 1'HILAND SU;oVEYOf'~ j~W,D S,A,L OR lMIOSSEO SEAL Sf:,;: l n ~ I U CONSIDERED TO. A VAliD r 0)'- c GUARANTEES I"H':r:_-.~~ ,. ','I;'.. S,'lAlL RUN ONLY TO lH~ ~L:..' . .:};,\ ,HE SUltVn IS ~AREO. A..O- - J._,~i,'; ro THE Yml COMPAt'.:I, .: n A.';~N;;;Y .o\NO 1IfetNG INST,WT:,~:. Icl!.~(jN, ANO ro _ A$SlGNEr.~ Of nit LEf.,iDING lN$Tl. 1UIIOtL GUAIl.AN1US ARE Nor TRANSfElASl.2" ro ~ INSTIJUTIONi OR WI5EQUW - 1= \~ (:~ r ~ ~ /\'i~P O~ PQOr>!E.-R,7',/ .sURi/'EV;Oq,,~ r4E .- 0;::- 0{)UTHOLD AT ...".-/") i ,1 /.v I G, vi C:::-ou -HO.' r') /11 V \"',...." , . "-.L"../ lV, 4. c- .... ,.., I' - ..d-L~::r I" ......!..:.......A/f;;' r f , 8 ,= ;-nOifJaN1en-l c!:i c / Yon p:'p e / -I II/oliii:'f+eml'~e~ shown '1ff)€'or 61'} -Ilu 5t..(f.'~I~1,. CO(<I1frJ k<( IJ1Pp CfS parcel 2- /17 b/ail:.:l.cl s~c-l/Oi1 7~ ellS! r/t.:.f lOCO, [) .Q. / VE' ,. ~ , I -' I ......,.....) ~ I I ,(;;p?!py,,/ffl ee..'7/ 1'"0 i /;'!(:.' f,'T/c ?~uar?t:."/ee Compat"!j :15 "E;,,~~r vcy c;-yj Ju f<) ~/ ,/ 9 7 '7 r) i i ~ -r- / ,-,..... /."<! -. ''Y4,. ,..., ~-^;!, ./'~'<'i/ .',.... \ '.'....,1:1...."'-"/ "_ ,"",,'_ ~",.,..:-'I:;;"',.. \_, -/kf!,,' '~,~'::l / -:~ ~i '~~~Ve(lC"5 "'-' - l.... ... ,,' _ .......'~ ...... c. "... ". _ ~ G; cenporf, .\;e".\/ 'Yay-I<. J.-.. ._ PAR. !.:3H .--------.--..- '. _.._-......._~.",.....,.,'=.~..-" .,' ~qS 9~ ~o ....-I 8 ~ DIST. I 1000 , ~ -'--- , .~ ~~. i "-.--- j I 71 ! BLOCK 1 LOT 2 '<, , Se'lldud N.Y. B.T.P. Form 8002 * ] -73-52M- Barg'n and S~ Deed, .ith Covem:nt against Grantor's Acts-IndIvidual or Corporation (Single sbeet) CONSULT YOUR LAWYER BEFORE SIGNING THIS INSTRUMENT-THIS INSTRUMENT SHOULD BE USED BY LAWYERS ONLY. L1BER8271 PACE335 THIS INDENlURE, made the /3 d day of July , nineteen hundred and seventy-seven BETWEEN KATHERINE A. HERBERT, residing at (no number) Main Road, Cutchogue, New York, party of the fir9t part, and TOWN OF SOUTHOLD, a municipal corporation of the State of New York, having offices at 53095 Main Street, Southold, New York, party of the second part, WITNESSETH. that the party of the first part, in consideration of Ten Dollars and other valuable considerati?n paid by the party of the second part, does hereby grant and release unto the party of the second part, the helrs or successors and assigns of the party of the second part forever, ALL that certain plot, !liece or parcel of landt with the buildings and improvelnents thereon erected, situate, lying and being in the Town of Southola, County of Suffolk and State of New York, bounded and described as follows: BEGINNING at the corner formed by the intersection of the northerly side of North Parish Drive with the easterly side of North Road to Bayview, and from said point of beginning running thence along the easterly side of North Road to Bayview, North 14 degrees 25 minutes 20 seconds West 182.46 feet to land of Town of Southold; running thence along the southerly and westerly side of land of Town of Southold the following two courses and distances, to wit: (1) South 82 degrees 30 minutes 20 seconds East 160.13 feet; (2) South 14 degrees 05 minutes 10 seconds West 178.71 feet to the northerly side of North Parish Drive; running thence along the northerly side of North Parish Drive North 75 degrees 54 minutes 50 seconds West 72.0 feet to the point or place of beginning. I RECJ;J\,1ED $.___..:f:2...__.___ REAL ESTATE JUL 18 1911 Tkh. ,~FER i i.,A SUFFOLK COUNTY 39348 TOGETHER with all right, title and interest, if any, of the party of the first part in and to any streets and roads abntting the ahove described premises to the center lines thereof; TOGETHER with the appurtenances and all the estate and rights of the party of the first part in and to said premises; TO HAVE AND TO HOLD the premises herein granted unto the party of the second part, the heirs or successors and assigns of the party of the second part forever. \", " AND the party of the first part covenants that the party of the first part has not done or suffered anything whereby the said premises have been encumbered in any way whatever, except as aforesaid. AND the party of the first part, in compliance with Section 13 of the Lien Law, covenants that the party of the first part will receive the consideration for this conveyance and will hold the right to receive such consid- eration as a trust fund to be applied first for the purpose of paying the cost of the improvement and will apply the same first to the payment of the cost of the improvement before nsing any part of the total of the same for any other purpose. The word "party" shall be construed as if it read "parties" whenever the sense of this indenture so requires. IN WITNESS WHEREOF, the party of the first part has duly executed this deed the day and year first above written. IN PRESENCE OF: ~; /. dd~ Katherine A. Herbert ddrUJ~ " ~ LIBER8271 PACE336 STATE OF NEW YORK, COUNTY OF Suffolk: On the/36( day of July, personally came KATHERINE A. HERBERT 50S: STATE OF NEW YORK, COUNTY OF 19 77 , before me On the day of personally came to me known to be the individual described in and who executed the foregoing instrument, and acknowledged that she executed the ~CV .~ Notary Public ROBERT W. TASKER NOTARY PUBLIC, State of New York Suffolk County No. 52-3933725 Term Exptres March 30, 1979 STATE OF NEW YORK, COUNTY OF On the day of 19 , before me personally came to me known, who, being by me duly sworn, did depose and say that he resides at No. that he is the of , the corporation described in and which executed the foregoing instrument; that he knows the seal of said corporation; that the seal affixed to said instrument is such corporate seal; that it was so affixed by order of the board of directors of said corpora- tion, and that he signed h name thereto by like order. ;IIafllain anb "ale .erb \}v'ITH COVENANT AGAINST GRANTOR'S ACTS TITLE NO. 1-:2 <17/ 7 "% ~ ~. T. KA THERINE A. HERBERT TO TOWN OF SOUTHOLD STANDARD FORM OF NEW YORK IOARD OF TITLE UNDERWRITERS Dis,,.;bul.d by THE TITLE GUARANTEE COMPANY II w U u:: ~ o .. z ;; .. o III .. ~ o ~ ~ ..- .. r- . ," ::s: c..- ..... .-< ", u. c. -ti-- '- " C"'.;~ w .. :::> .. S! -. ,.-,.- c--.> - ::f. U-\ (~ a::.QU- U...I ~ ~ .' 'c.r. VI '" _I 0::> - w U <( ... .. .. ;: I- w > .. w .. w '.. ~ ~ 50S: 19 , before me to me known to be the individual executed the foregoing instrument, executed the same. described in and who and acknowledged that ss: STATE OF NEW YORK, COUNTY OF 55: On the day of 19 , before me personally came the subscribing witness to the foregoing instrument, with whom I am personally acquainted, who, being by me duly sworn, did depose and say that he resides at No. that he knows to be the individual described in and who executed the foregoing instrument; that he, said subscribing witness, was present and saw execute the same; and that he, said witness, at the same time subscribed h name as witness thereto. SECTION BLOCK LOT COUNTY OR TOWN Recorded At Request of The Tide Guarantee Company RETURN BY. MAIL TO: Robert W. Tasker, Esq. 425 Main Street Greenport, New York 11944 Zip No. ., ~ ~ \~~ ~ ~\\~ - ~\ ~' ~, '~ ~ ~~ \j ~ .. ~. , ~lllllllllfllllll.Illll,111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111IIIIIIIIIIIIIIIIIIII~IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII1111 ~ = ~ 1111111111111111111111111111111111111111111111111111111111111II~IIIIIIITIII~IIIII :fllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll1IIIIIIIIIIIIIl!O TITLE INSURANCE POLICY THE TITLE GUARANTEE COMPANY and PIONEER NATIONAL TITLE INSURANCE COMPANY THE TITLE GUARANTEE COMPANY, a New York Corporation, and PIONEER NATIONAL TITLE INSURANCE COMPANY, a California Corporation, jointly and severally, together herein called "the Company," in consideration of the payment of its charges for the examination of title and its premium for insurance, insures the within named insured against all loss or damage not exceeding the amount of insurance stated herein and in addition the costs and expenses of defending the title, estate or interest insured, which the insured shall sustain by reason of any defect or defects of title affecting the premises described in Schedule A or affecting the interest of the insured therein as herein set forth, or by reason of nnmarketability of the title of the insured to or in the premises, or by reason of liens or incumbrances affecting title at the date hereof, or by reason or any statutory lien for labor or material furnished prior to the date hereof which has now gained or which may hereafter gain priority over the interest insured hereby, or by reason of a lack of access to and from the premises, excepting all loss and damage by reason of the estates, interests, defects, objections, liens, incumbrances and other matters set forth in Schedule B, or by the conditions of this policy hereby incorporated into this contract, the loss and the amount to be ascertained in the manner provided in said conditions and to be payable upon compliance by the insured with the stipulations of said conditions, and not otherwise, BI1 C),Vifl1e55 C),V~et'eof) the companies have caused their corporate names and seals to be hereunto affixed by their duly authorized officers. PIONEER NATIONAL TITLE INSURANCE COMPANY THE TITLE GUARANTEE COMPANY B.A,.J).. .&.8~"k" ...... c:::r~:::i .' '.. /. Pres;,;en, Altesl .,' ~.@l1..,.*,-,,,,,,, ....... - j' l Secretary , .~~~{ ,* ,,,,t+" , ' +" ," , resident M"S'. \,& w l' ,+ 0 ArreST< . .,,:'..- .... '; '\'1"" .,'.. .... , 'z">" ~Secretary Validating OIJife.[ t"1 {/w ~ or Agent ... .... '" .~,U/1" M[MerRS NEW VORX 80ARD 01'" TITlr UND[RWRITrRS ~,- ~ CONDITIONS 01' TRIS POLICY ~ > _00 1 DEFINITIONS (a) Wherever the term "insured" is used in this policy it includes those who succeed to the interest of the insured by operation of law including, without limitation, heirs, distributees, devisees, survivors, personal representatives, next of kin or corporate successors, as the case may be, and those to whom the insured has assigned this policy where such assignment is permitted by the terms hereof, and whenever the term "insured" is used in the conditions of this policy it also includes the attorneys and agents of the "insured." (b) Wherever the term "this company" is used in this policy it means The Title Guarantee Company and Pioneer National Title Insurance Company. (c) Wherever the term "final determination" or "finally deter- mined" is used in this policy, it means the final determination of a court of competent jurisdiction after disposition of all appeals or after the time to appeal has expired. (d) ~lherever the term "the premises" is used in this policy, it means the property insured herein as described in Schedule A of this policy including such buildings and improvements thereon which by law constitute real property. (e) Wherever the term <(recorded" is used in this policy it means, unless otherwise indicated, recorded in the office of the recording officer of the county in which property insured herein lies. 8ectioo 2 DEFENSE AND PROSECUTION OF SUITS (a) This company will, at its own cost, defend the insured in all actions or proceedings founded on a claim of title or incumbrance not excepted in this policy. (b) This company shall have the right and may, at its own cost, maintain or defend any action or proceeding relating to the title or interest hereby insured, or upon or under any covenant or contract relating thereto which it considers desirable to prevent or reduce loss hereunder. (c) In all cases where this policy requires or permits this company to prosecute or defend, the insured shall secure to it the right and opportunity to maintain or defend the action or proceeding, and all appeals from any determination therein, and give it all reasonable aid therein, and hereby permits it to use therein, at its option, its own name or the name of the insured. (d) The provisions of this section shall survive payment by this company of any specific loss or payment of the entire amount of this policy to the extent that this company shall deem it necessary in recovering the loss from those who may be liable therefor to the insured or to this company. Sectloo 3 CASES WHERE LIABIUTY ARISES No claim for damages shall arise or be maintainable under this policy except in the following cases: (a) Where there has been a final determination under which the insured may be disposs6J8ed, evicted or ejected from the premises or from some part or undivided share or interest therein. (b) Where there has been a final determination adverse to the title, upon a lien or incumbrance not excepted in this policy. (c) Where the insured shall have contracted in good faith in writing to sell the insured estate or interest, or where the insured estate has been sold for the benefit of the insured pursuant to the judgment or order of a court and the title has been rejected because of a defect or incumbrance not excepted in this policy and there has been a final determination sustaining the objection to the title. (d) Where the insurance is upon the interest of a mortgagee and the mortgage has been adjudged by a final determination to be invalid or ineffectual to charge the insured's estate or interest in the premiICS, or subject to a prior lien or incumbrance not excepted in this policy; or where a recording officer has refused to accept from the insured a satisfaction of the insured mortgage and there has been a final deter~ mination sustaining the refusal because of a defect in the title to the said mortgage. (e) Where the insured shall have negotiated a loan to be made on the security of a mortgage on the insured's estate or interest in the premises and the title shall have been rejected by the proposed lender < and it shall have been finally determined that the rejection of the title was justified because of a defect or incumbrance not excepted in this policy. (f) Where the insured shall have transferred the tide insured by an instrument containing covenants in regard to title or warranty thereof and there shall have been a final determination on any of such cove~ nants or warranty, against the insured, because of a defect or incum~ brance not excepted in this policy. (g) Where the insured estate or interest or a part thereof has been taken by condemnation and it has been finally determined that the insured is not entitled to a full award for the estate or interest taken because of a defect or incumbrance not excepted in this policy. No claim for damages shall arise or be maintainable under this policy (1) if this company, after having received notice of an alleged defect or incumbrance, removes such defect or incumbrance within thirty days after receipt of such notice; or (2) for liability voluntarily assumed by the insured in settling any claim or suit without the written consent of this company. Sectioo 4 NOTICE OF CLAIM In case a purchaser or proposed mortgage lender raises any question as to the sufficiency of the title hereby insured, or in case actual knowledge shall come to the insured of any claim adverse to the title insured hereby, or in case of the service on or receipt by the insured of any paper, or of any notice, summons) process or pleading in any action or proceeding, the object or effect of which shall or may be to impugn, attack or call in question the validity of the title hereby insured, the insured shall promptly notify this company thereof in writing at its main office and forward to this company such paper or such notice, summons, process or pleading. Delay in giving this notice and delay in forwarding such paper or such notice, summons, process or pleading shall not affect this company's liability if such failure has not prejudiced and cannot in the future prejudice this company. Sectloo II PAYMENT OF was (a) This company will pay, in addition to the loss, all statutory costs and allowances imposed on the insured in litigation carried on by this company for the insured under the terms of this policy. This company shall not be liable for and will not pay the fees of any counselor attorney employed by the insured. (b) In every case where claim is made for loss or damage this company (1) reserves the right to settle, at its own cost, any claim or suit which may involve liability under this policy; or (2) may termi~ nate its liability hereunder by paying or tendering the full amount of this policy; or (3) may, without conceding liability, demand a valua~ tion of the insured estate or interest, to be made by three arbitrators or any two of them, one to be chosen by the insured and one by this company, and the two thus chosen selecting an umpire. Such valua. tion, less the amount of any incumbrances on said insured estate and interest not hereby insured against, shall be the extent of this com- pany's liability for such claim and no right of action shall accrue hereunder for the recovery thereof until thirty days after notice of such valuation shall have been served upon this company, and the insured shall have tendered a conveyance or assignment of the insured estate or interest to this company or its designee at such valuation, diminished as aforesaid. The foregoing option to fix a valuation by arbitration shall not apply to' a policy insuring a mortgage or leasehold interest. (c) Liability to any collateral holder of this policy shall not exceed the amount of the pecuniary interest of such collateral holder in the premises. (d) All payments made by this company under this policy .hall reduce the amount hereof pro tanto except (1) payments made for counsel fees and disbursements in defending or prosecuting actions or proceedings in behalf of the insured and for statutory costs and allow. ances imposed on the insured in such actions and proceedings, and (2) if the insured is a mortgagee, payments made to satisfy or subordi. nate prior liens or incumbrances not set forth in Schedule B. (e) Wben liability has been definitely fixed in accordance witb tbe conditions of this policy, the loss or damage shall be payable within thirty days thereafter. . CONDmONs CONTINUED ON INIIDE BACK COVER , . 7QlJ.* 2,77 5.... tYE' TIT'_': GI.'A'lA"'TEE COMPANY 8..."d Name of Insured TOWN OF SOl''!'HOW The estate or interest insured by this pel cy s fee simple P!ON~':P ~AT~ONA~_ TrTU:: ~N~<'JP^Nr;E. COMPANY Policy r4o. 12"171?~:, Amount of Insurance $ 9,000.00 Date of Issue 7/13/7? v'ested in the insured by meons of a deed made by Katherine, /.. Herbert to the INSURED dated 7/1;./77, recorded 7/18/77. SCHEDULE B The foIlG"ii,~g cstatr;s, :,-,tere';Ts, ddectc. o~::<'.>ct:or.s fa title lienc, and incumbrar'ce, and off-cr' matters are excepted from the coverage of this policy: D,dto'ct3 and i1CU'11br,nc8'; ",rising or bc:;rr: rg Cl lien after the d~te of this pol:cy, elTept as herein provided. 2. Cc)nsequcncC' of tho e~,ercise a1d en{Jrcement or attempted enforcement of any 9Gvernmentjl \var or polico powor~ over the premises. 3. Zon:ng r8str:ctions or ,'-d'nnces :mpc,ed by ony g::wernmental body. 4. Judgme1ts against the insu,ed or esbtes, idere"ts, deJects, objections, I:ens or ilcumbrances created, suffered. cssunwd 0, agreed,t6, by or with tho pr:vity of the insured. 5. Title to any property beyord t~e lines of the premises, or title to area~ w:th:n 8r rights or easements :n ,ny abut':rg streets, roads, avenues, la:18s, WelY, C" w<,tcrways orlhe right to rn"intoi" 'Ioreir' vaLl.s, tunnels, ramps, or an, OflN dructure 0r improvement unless this policy specifically Novides that such titles, righ~s. '::lr ea5en~erlh are insured. Notwithstanding r]ny provis'ons in this para::jraph to the contrary, this policy, unless ;therwise excepted, insures the ordinary rights of access and egress t_ol::lllging ta dbulting owners. 6 C)mpliance by the building, or olhar ('reCrOIlS upon the premises or Iheir use with Ftcderal, St("Jte ,~nd Muni'~;pcd l.'lw5, regulations alld ordi- nances. 7. TiHe te any personal property, whether the same be attached to or used 1 connection with soid premises or otherwise. A. New York and Federal Es~a~e Tax against F. Harold Sayre, deceased, but policy insures that same will not be collected out of the herein described premises. B. Survey by Roderick Van Tuyl P.C. dated 7/8/77 shows vacant land. No variations. tk SCHEDULE "8" OF THIS POLICY CONSISTS OF ~ SHEET(S). 706' '0-7'3_'0V . THE TIT'_E (It'ARAMTr:E COMPA~'V and PIO"!Ef" "IAT'ONAl ~'TLr: '''I$IJPMrCE COMPANY . !'o iCY !~o, 129'7::. 7:; SCHEDUll A -hfJ cre,~:c, i 1 whic;l th~. ir,surfJd has th3 lcCJte :J' irhr3St C:::>Y9 'ed by hi, p.l> y ALL that certain plot, piece or parcel of land with the buildings 'thereon erected, sit11atE~, lying and being in the T01liTn of Southold, County of Suffolk and State 'Jf New York, bounded and described as follows: BEGINNING at the corner form,~d by the intersection of the north- erly side of North Parish Drive with the easterly side of Horth Road to Bayview, and from said point of beginning; l1UNNING THENCE along the easterly side of North Road to Bayview, North 14 degrees 25 ninutes 20 seconds I'Jest 182.46 feet to land of Town of Southold; RUNNING THENCE along the southerly and \vesterly side of Land of Town of Southold t:he following 2 courses and distances: 1. South 82 degrees 30 minutes 20 seconds East 160.13 feet; 2. South 14 degrees 05 minutes 10 seconds West 178.71 feet to the northerly side of North Parish Drive; RUNNING THENCE along the northerly side of North Parish Drive North 75 degrees 54 minutes 50 seconds \'lest 72.0 feet to the point or place of BEGINNING. . ~ CONomONS CON11NUED FROM: INSIDE FRONT COVER /. SeetiOD 6 COINSURANCE AND APPORTIONMENT (a) In the event that a partial108B 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 COlt of the improvement exceed! twenty per centum of the amount of this policy, such proportion only of any partial loss estab- lished shall be borne by the company as one hundred twenty per centum of the amount of this policy bears to the sum of the amoont of this policy and the amount expended (or the improvement. The fore. going provisions shall not apply to costs and attorneys' fees incurred by the company in prosecuting 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 proceed. iogs, 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 incumbrance 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 .hall not apply to any loss if, at the time of the occurrence 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 premises are divisible into separate, independent parcels, and a loss is established affecting one or more but not all of said parcels, the loss shall be computed and aetded on a pro rata basis as if this policy were divided. pro rata as to value of said separate, independent parcels, exclusive of improvements made subsequent to the date of this policy. (c) Clauses "(a)" and "(b)" of this section apply to mortgage policies only after the insured shall have acquired the interest of the mortgagor. (d) If, at the time liability for any loss shall have .been fixed pur- suant to the conditions of this policy, the insured holds another policy of insurance covering the same loss issued by another company, this company shall not be liable to the insured for a greater proportion of the loss than the amount that this policy bears to the whole amount of insurance held by the insured, unless another method of apportioning the loss shall have been provided by agreement between this company and the other insurer or insurers. Sect10D 7 member companies for continuation of liability to grantees of the imured in certain specific circumstances only. In no circumstanCe provided for in this section shall this company be deemed to have insured the sufficiency of the form of the assignment or other instru- ment of transfer or conveyance or to have assumed any liability for the sufficiency of any proceedings after the date of this policy. SeetiOD 8 SUBROGATION (a) This company shall to the extent of any payment by it of loss under this policy, be subrogated to all rights of the insured with respect thereto. The insured shall execute such instruments as may be requested to transfer such rights to this company. The rights so trans- ferred shall be subordinate to any remaining interest of the insured. (b) If the insured is a mortgagee, this company's right of subroga- tion shall not prevent the insured from releasing the personal liability of the obligor or guarantor or from releasing a portion of the premises from the lien of the mortgage or from increasing or otherwise modify- ing the insured mortgage provided such acts do not affect the validity or priority of the lien of the mortgage insured. However, the liability of this company under this policy shall in no event be increased by any such act of the insured. SeetiOD 9 MISREPRESENTATION Any untrue statement made by the insured, With respect to any material fact, or any suppression of or failure to disclose any material fact, or any untrue answer by the insured, to material inquiries before the issuance of this policy, shall void this policy. Section 10 NO WAIVER OF CONDmONS This company may take any appropriate action under the terms of this policy whether or not it shall be liable hereunder and shall not thereby concede liability or waive any provision of this policy. SeetlOD 11 POUCY ENTIRE CONTRACf All actions or proceedin~ against this company must be based on the provisions of this policy. Any other action or actions or rights of action that the insured may have or may bring against this company in reapect of other services rendered in connection with the issuance of this policy, shall be deemed to have merged in and be restricted to its terms and conditions. ASSIGNMENT OF POUCY SeetioD 12 VAUDATION AND MODIFICATION If the interest insured by this policy is that of a mortgagee, this policy may be assigned to and shall inure to the benefit of successive assignees of the mortgage without consent of this company or its en- dorsement of this policy. Provision is made in the rate manual of New York Board of Tide Underwriten filed with the Superintendent of Insurance of the State of New Yark on behalf of this and other This policy is valid only when duly signed by a validatiag officer or agent. Changes may be effected only by written endorsement. If the recording date of the instruments creating the insured,.interest is later than the policy date, such policy shall also cover intervening liens or incumbrances, except real estate taxes, assessments, water charges and sewer rents. ENDORSEMENTS N.V.a.T.w. FORM .0010 <ALSO AOOPTED AS A STANDARD POL'C:Y FORM BY THE IIlEW YORk STATE AND TITLE ASSOCIATION! REV'SED EFFECTIVE 7/1/6f1 700.1.77_T2M A Valuable Document GJ'IGJ'LB Insurance POLle~ .~RANTEE- NEW YORK . PIONEER NATIONAL TITLE INSURANCE TICOR TITLE INSURERS HEAD OFFICE 120 BROADWAY, NEW YORK CITY -0- Providing direct title services or referral services throughout the United States, Guam, Puerto Rico and the U.S. Virgin Islands.