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HomeMy WebLinkAboutDickerson Estate MELISSA A. SPIRO LAND PRESERVATION COORDINATOR melissa.spiro @ town.southold.ny.us Telephone (631 ) 765-5711 Facsimile (631 ) 765-6640 OFFICE LOCATION: Town Hall Annex 54375 State Route 25 (comer of Main Road & Youngs Avenue) Southold, New York MAILING ADDRESS: P.O. Box 1179 Southold, NY 11971-0959 DEPARTMENT OF LAND PRESERVATION TOWN OF SOUTHOLD To: From: Date: Re: Elizabeth A. Neville Town Clerk Melanie Doroski Sr. Administrative Assistant Janua~ 23,2009 DICKERSON ESTATE to TOWN OF SOUTHOLD Open Space Acquisition - 0.22 acre SCTM #1000-115.-12-1 Premises: 5840 New Suffolk Avenue, Mattituck Betty: Enclosed for safekeeping in your office, please find the following documents: · Suffolk County Clerk Records Office Recording Page · Suffolk County Recording & Endorsement Page · Original Executor's Deed dated December 10, 2008, between Dorothy Dickerson Peters as Executrix of the Last Will and Testament of Ernest Frederick Dickerson, deceased, and the Town of Southold, recorded in the Suffolk County Clerk's office on 12/18/08, in Liber D00012575 at Page 410 · Copy of title insurance policy #O-8911-487323 issued by Stewart Title Insurance Company on December 10, 2008, in the insured amount of $10,000.00 (title no. ST08-02000. · Closing Statement Thank you. Melanie encs. cc: Assessomw/copy of recorded deed SUFFOLK COUNTY CLERK RECORDS OFFICE RECORDING PAGE Type of Instrument: DEED Number of Pages: 4 Receipt Number : 08-0120263 TRANSFER TAX NUMBER: 08-11653 District: 1000 Deed Amount: Recorded: At: LIBER: PAGE: Section: Block: 115.00 12.00 EXAMINED AND CHARGED AS FOLLOWS $0.00 Received the Following Fees For Above Instrument Exempt Page/Filing $20.00 NO Handling COE $5.00 NO NYS SRCHG EA-CTY $5.00 NO EA-STATE TP-584 $5.00 NO Notation Cert. Copies $5.00 NO RPT Transfer tax $0.00 NO Comm. Pres Fees Paid TRANSFER TAX NUMBER: 08-11653 THIS PAGE IS A PART OF THE INSTRUMENT THIS IS NOT A BILL JAN - 9 2009 Judith A. Pascale County Clerk, Suffolk County 12/18/2008 03:10:00 PM D00012575 410 Lot: 001.000 Exempt $20.00 NO $15.00 NO $165.00 NO $0.00 NO $30.00 NO $0.00 NO $270.00 Number of pages TORRENS Serial # Certificate Prior Cfi. # Deed / Mortgage Instrument Page / Filing Fee Handling ~2~. __ TP-584 S. 00 Notation EA-52 17 (County) EA~5217 (State) R.RT.S.A. Coman. of Ed. 5. O0 Affidavit - d Cop..~) __ N¥S Surcharge 15. 00 Other Deed / Mortgage Tax Stamp Recording / Filing Stamps 4 [ 1000 Dist. Real Property Tax Service Agency Verification FEES Sub Total SubTotal Grand Total 08030180 xooo zzsoo ~2oo ooxooo 900 Satisfactions/Discharges/Releases List Property Owners Mailing Address RECORD & RETURN TO: ¥3o%- ~-r4~- R015o$ It7ff Moi'tgage Amt. 1. BaSic Tax 2. Additional Tax Sub Total Spee./Assit. or Spec./Add. TOT. MTG. TAX Dual Town __ Dual County __ Held ~or Appointment4. - · Transfer Tax Mansion Tax The property covered by this mortgage is or will be improved by a one or two family dwelling bnly. YES or NO )_~~~C ff NO, see appropriate t.ax clau*e on page # __ __. of tiffs ~nstg'un~ent. / , ommuntty Preservation Fund Consideration Amount $ Tax Due $. Improved Vacant Land TD TD ?Co. JName Title Company Information J ~tte # ~Z) ?. D~ooo Suffolk County Recording & Endorsement Page This page forms part of the attached ~-~ & made by: TO (SPECIFY TYPE OF INSTRUMENT) The premises herein is situated in SUFFOLK COUNTY, NEW YORK. In the TownShip' of In the VILLAGE or HAMLET of BOX]~S 6 THRU 8 MUST BE TYPED OR PRINTED IN BLACK INK ONLY PRIOR TO RECORDING OR FILING. (over) EXECUTOR'S DEED (INDIVIDUAL OR CORPORATION) STANDARD NYBTU FORM 8010 CAUTION: THIS AGREEMENT SHOULD BE PREPARED BY AN ATTORNEY AND REVIEWED BY ATTORNEYS FOR SELLER AND PURCHASER BEFORE SIGNING. THIS INDENTURE, made the i~'~- day of ~_~WI b~,~~, 2008 between DOROTHY DICKERSON PETERS AS EXECUTRIX OF THE LAST WILL AND TESTAMENT OF ERNEST FREDERICK DICKERSON, DECEASED, residing at 33 West Court Street, Cortland, New York 13045 party of the first part, and TOWN OF SOUTHOLD, a municipal corporation with principal offices at Southold Town Hall, 53095 Route 25, Southold, New York 11971 party ofthe second part, WITNESSETH, that the party of the first part, to whom letters testamentary were issued to Dorothy Dickerson Peters by the Surrogate's Court, Suffolk County, New York, and by virtue of the power and authority given in and by said last will and testament, and/or by Article 11 of the Estates, Powers and Trusts Law, and in no consideration of, lawful money of the United States, paid by the party of the second part, does hereby grant and release unto the party of the second part, the distributees or successors and assigns of the party of the second part forever, ALL that certain triangular piece or parcel of land, situate in Mattituck, Suffolk County, New York, on the southerly side of New Suffolk Avenue at Deep Hole Creek; bounded on the North by New Suffolk Avenue 117.5 feet; on the East by property of James A. Torrey 130 feet; on the South by Deep Hole Creek; and on the West by property of Helen W. Tuthill. Being the same premises conveyed to the parties of the first part herein by deed recorded on 8/4/2005 in Liber ~12401 Page 912. TOGETHER with all right, title and interest, if any, of the party of the first part in and to any streets and roads abutting the above described premises to the center lines thereof, TOGETHER with the appurtenances, and also all the estate which the said decedent had at the time of decedent's death in said premises, and also the estate therein, which the party of the first part has or has power to convey or dispose of, whether individually, or by virtue of said will or otherwise, TO HA VE 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 consideration as a trust fund to be applied first for the purpose of paying the costs of the improvement and will apply the same first to the payment of the cost of the improvement before using 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. DOROTHY D~KERSON PETERS NYSBA Residential Real Estate Forms on HotDocs'~' (9/00) Copyright CapsoR~ Development STATE OF NEW YORK COUNTY OF ,~.t3~'4 ~-o..~4 ) ) SS.: ) On the ~44~ day of bace-~do e-~,r ,2008, before me, the undersigned, personally appeared, DOROTHY DICKERSON PETERS, personally known to me or proved to me on the basis of satisfactory evidence to be the individual(s) whose name(s) is (are) subscribed to the within instrument and acknowledged to me that she executed the same in her capacity(les), and that by her signature(s) on the instrument, the individual(s), or the person upon behalf of which the individual(s) acted, executed the instrument. NOTARY PUBLIC RITA M. DAWSON Notary Public, State of New YoI~ Qualified in Cortland Count~ Reg. #01 DA6176863 My Commission Expires Nov. 05, 20.U. NYSBA Residential Real Estate Forms on HotDocs'~ (9/00) Copyright Capsoffm Development RIDER TO EXECUTOR'S DEED BETVVEEN DOROTHY DICKERSON PETERS as Executrix of the Last Will and Testament of Ernest Frederick Dickerson, deceased AND THE TOWN OF SOI)THOLD DATED December {~'/~.., 2008 AS SET FORTH in Chapter 17 (Community Preservation Fund) and Chapter 185 (Open Space Preservation) of the Town Code of the Town of Southold OPEN SPACE acquired by the Town pursuant to the provisions of those chapters shall not thereafter be alienated, except upon the affirmative vote of a majority of the Town Board after a public hearing and upon the approval of the electors of the Town voting on a proposition submitted at a special or biennial town election. No subsequent amendment of the provisions of those chapters shall alter the limitations imposed upon the alienation of development rights acquired by the Town prior to any such amendment. This covenant shall run with the land in perpetuity. T?WN OF SO~THOLD SCO'~-I- A. RUSSELL Supervisor STATE OF NEW YORK ) )SS: COUNTY OF SUFFOLK ) On the l0 ~ day of December, 2008, before me personally appeared SCOTT A. RUSSELL, personally known to me or provided to me on the basis of satisfactory evidence to be the individual whose name is subscribed to the within instrument and acknowledged to me that he executed the same in his capacity as Supervisor of the TOWN OF SOUTHOLD, and that by his signature on the instrument, the individual, or the municipal corporation upon behalf of which the i~ividual acte~d, executed the,instrument. No{ary Pt~blic: ~ MELANIE DOR0SKI NOTARY PUBLIC, State of New Y0~ No, 01D04634870 Qualified in Suffolk County '~,--~ ,..~ Conm',lssion Expires September 30~ ,~'¢J ~ ALTA Owner's Policy (6-17-06) POLICY OF TITLE INSURANCE ISSUED BY Any notice of claim and any other notice or statement in writing required to be given the Company under this Policy must be given to the Company at the address shown in Section 18 of the Conditions. COVERED RISKS SUBJECT TO THE EXCLUSIONS FROM COVERAGE, THE EXCEPTIONS FROM COVERAGE CONTAINED IN SCHEDULE B AND THE CONDITIONS, STEWART TITLE INSURANCE COMPANY, a New York corporation, (the "Company") insures, as of Date of Policy and, to lhe extent stated in Covered Risks 9 and 10, after Date of Policy, against ices or damage, not exceeding the Amount of insurance, sustained or incurred by the insured be 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, incapocity~ 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 1o perform those acts necessary to create a document by electronic means authorized by law (v) a document executed under a falsified, expired, or otherv.,ise invalid power of attorney (vi) a document not propedy filed, recorded, or indexed in the Public Records including failure to pedorm 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 iand, and encroachments onto the Land of existing improvements located on adjoining land. 3. Unmarketable Title. 4. No right of access 1o and from the Land. 5. The violation or enforcement of any law, ordinance, permit, or governmental regulation (including lhose relating to building and zoning) restricting, regulating, prohibiting, or relating to (a) the cccupancy, 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 prolection if a notice, describing any part of the Land, is recorded in the Public Records setting forth the violation or intention to enfome, 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 lhe 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. 8. Any taking by a governmental body that has occurred and is binding on the rights of a purchaser lot value without Knowledge. Countersigned: Stewart Title Insurance Company New York, New York Serial NO. O'8911-487323 if you want information a, bout coverageor need assistance to resolve complaints, please c~ll our tollfree number: 1-800-433-0014, If you makeaclaim underyour policy, you must furnish written notice in accordance with Section 3 of the Conditions. Visit our Word-Wide Web site at htt D://WWW, St ewar[NewYo rk.co m File No.: ST08-02000 COVERED RISKS (Continued) 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 (b) (i) to be timely, or (ii) to impart notice of its existence to a purchaser for value or to a providing an alternative remedy, of a transfer of all or any pad of the judgment or lien creditor. title to or any interest in the Land occurring prior to the transaction 10. Any defect in or lien or encumbrance on the Title or other matter included vesting Title as shown in Schedule A because that prior transfer in Covered Risks 1 through 9 that has been created or attached or has constituted a fraudulent or preferential transfer under federal been filed or recorded in the Public Records subsequent to Date of Policy bankruptcy, state insolvency, or similar creditors' rights laws; or and prior to the recording ct the deed or other instrument of transfer in the because the instrument of transfer vesting Title as shown in Public Records that vests Title as shown in Schedule A. Schedule A constitutes a preferential transfer under federal The Company will also pay the costs, attomeys'fees, and expenses incurred in bankruptcy, state insolvency, or similar creditors' rights laws by defense of any matter insured against by this Policy, but only to the extent reason of the failure of its recording in the Public Records provided in the Conditions. 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 regulalion (including those relagng to building and zoning) restricting, regulating, prohibiting, or relating to (i) the occupancy, use, or enioyment 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 l(b) does not modity or limit the coverage provided under Covered Risk 6. 2. Rights of eminent domain. This Exclusion does not modify or limit the 5. coverage provided under Covered Risk 7 or 8. 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 ol Policy, but Known to the insured Claimant and not disclosed in wTiting 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 modity 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. Any claim, by reason of the operation of federal bankruptcy, state insolvency, or similar creditors' rights laws, lhat the transaction vesting the Title as show~ 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. Any lien on the Tige 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, CONDITIONS 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 lg 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 consideration 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 "Know~": 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 Tide. (g) "Land": The land described in Schedule A, and affixed improvements that by law constitute real property. The term "Land" does not include any property beyond the lines of the area desedbed in Schedule A, nor any dght. title, interest. estate, or easement in abutting streets, roads, avenues, alleys. lanes, ways, or waterways, but this does not modify or limit the extent 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 authpezed by law. (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 filed in the records of the clerk of the United States District Court for the district where the Land is located. (j) "Tide": The estate or interest described in Schedule A. (k) "Unmarketable Title": Title affected by an alleged or apparent matter that would permit a prospective purchaser or lessee of the Title or lender on the Tille to be released from the obligation to purchase, lease, or lend if there is a contractual condition requiring the delivery of marketable title. II II Page2 Serial No.: O-8911-487323 II File No.: ST08-02000 CONDiTiONS (Continued) 2. CONTINUATION OF INSURANCE 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 an estate or interest in lhe Land, or holds an obligation secured by a purchase 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 transfer 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 extent 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 furnish 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 Tdle, 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 shall not be an admission of liability or w~iver 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. 6. DUTY OF INSURED CLAIMANT TO COOPERATE (a) In all cases where this policy permits or requires the Company to prosecule 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, including 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 affecting settlement, and (ii) in any other lawful act that in the opinion of the Company may be necessary or desirable to establish the Tdle or any other matter as insured. If the Company is prejudiced by the failure of the Insured to furnish 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 submil 1o 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 conlrol of a third party that reasonably pertain to the loss or damage. All information designated as confidential 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 claim. Failure of the Insured Claimant to submit for examination under oath, produce any reasonably requested information, or grant permission to secure reasonably necessary information lrom 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. OPTIONS TO PAY OR OTHERWISE SETTLE CLAIMS; TERMINATION OF LIABILITY In case ol a claim under this policy, the Company shall have the fo[lowing addilional 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, attorneys' fees. and expenses incurred by the Insured Claimant that were authorized by the Company up to the time of paymenl or tender of payment and that the Company is obligated to pay. Upon lhe exercise by the Company of this option, all liability and obligations of lhe Company to the Insured under this policy, olher 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 With 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, attorneys' fees, and expenses incurred 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 othenvise settle with the Insured Claimant the loss or damage provided for under this policy, together with any costs, attorneys* fees, and expenses incurred by the Insured Claimant that were authorized by lhe 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, ir Pa~e3 Serial No.: O-8911-487323 File No.: ST08-02000 CONDITIONS (Continued) 8. 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. (aJ The extent 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 ~tle subject to the dsk insured against by this policy. (h) If the Company pursues its rights under Section 5 of these Conditions and is unsuccessful in establishing the Tige, as insured, (i) the Amount of Insurance shall be increased by 10%, and (ii) the Insured Claimant shall have lhe right to have the loss or damage determined eilher 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, attorneys' fees, and expenses incurred in accordance with Sections 5 and 7 of these Conditions. 9. LIMITATION OF UABILITY {a) If 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 Igigation and the completion of any appeals, it shall have fully pedormed 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 lhe Company or with the Company's consent, the Company shall have no liability for loss or damage until there has been a final determination by a court of competent jurisdiction, and disposdion of all appeals, adverse to the Title, as 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 et 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 alter 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 extent of loss or damage have been definitely fixed in accordance with these Conditions, the payment shall be made within 30 days. V 13. RIGHTS OF RECOVERY UPON PAYMENT OR SETTLEMENT {a) Whenever the Company shall have settled and paid a claim under lhis policy, it shall be subrogated and entitled to the rights of the Insured Claimant in the Tibe and all other rights and remedies in respect to the claim that the Insured Claimant has against any person or properb/, to the exlent of the amount of any loss, costs, attorneys~ 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 shag 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 liggation involving these File No.: ST08-02000 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 dght 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 Either the Company or lhe Insured may demand 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 provided 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 c~aim between the Company and the Insured apsing out of or relating to this policy, any service in connection wgh its issuance or the breach of a boiicy provision, or to any other controversy or claim arising out of the transaction giving rise to this policy. All arbitraple 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 binding upon the parties. 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 endomements, 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 wdting and authenticated by an authorized person, or expressly incorporaled by Schedule A of this policy. {dj 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. SEVERARILITY 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. CHOICE OF LAW; FORUM (a) Choice of Law: The insured acknowledges the Company has underwriiten the risks covered by this policy and determined the premium charged therefore in reliance upon the law affecting interests in real property and applicable to the interpretation, rights, remedies, or enforcement of policies of tibe insurance of the jurisdiction where the Land is located. Therefore, the coud or an arbitrator shall apply the law of the jurisdiction where the Land is located to determine lhe validity of claims against the Title that are adverse to the Insured and to interpret and enforce the terms of this policy. In neither case sha~l the court or arbgrator apply its conflicts of law principles to determine the applicable law. (c) Choice of Forum: Any litigation or other proceeding brought by the Insured against the Company must be filed only in a state or federal court within the United States of America or its territories having apprepdate jurisdiction. 18. NOTICES, WHERE SENT Any notice of claim and any ether notice or statement in writing required to be given to the Company under this policy must be given to the Company at Claims Depar~ment at 300 East 42 St, 10 Floor, NewYork, NY10017. ALTA OWNER'S POLICY (6/17/06) SCHEDULE A File No.: ST08-02000 Policy No.: O-8911-487323 Amount of $10,000.00 Premium: $342.00 Insurance: Date of December 10, 2008 Policy: 1. Name of Insured: Town of Southold 2. The estate or interest in the land described herein and which is covered by this policy is: Fee Simple 3. Title vested in: Town of Southold who acquired title by deed from Estate of Ernest F. Dickerson,Executrix: Dorothy Peters dated 12/10/2008 to be duly recorded in the Suffolk County Clerk's/Registers Office. 4. The Land referred to in this policy is described as follows: See Schedule A Description, attached hereto and made a part hereof. Section: 115.00 Block: 12.00 Lot: 001.000 ALTA OWNER'S POLICY (6/I 7/06) File No.: ST08-02000 SCHEDULE A DESCRIPTION Policy No.: O-8911-487323 ALL that certain triangular piece or parcel of land, situate in Mattituck, Suffolk County, New York, on the southerly side of New Suffolk Avenue at Deep Hole Creek; bounded on the North by New Suffolk Avenue 117.5 feet; on the East by property of James A. Torrey 130 feet; on the South by Deep Hole Creek; and on the West by property of Helen W. Tuthill. ALTA OWNER'S POLICY (6/17/06) SCHEDULE B PART I File No.: ST08-02000 Policy No.: O-8911-487323 This policy does not insure against loss or damage (and the Company will not pay costs, attorneys' fees or expenses) that arise by reason of: 1. No title will be insured to any land lying below the present or any former high water line of Deep Hole Creek. 2. Except the fight of the United States Government to establish harbor, bulkhead or pierhead lines or to change or alter any such existing lines and to remove or compel the removal of fill and improvements thereon (including buildings or other structures) from land now or formerly beyond the high water mark of Deep Hole Creek without compensation to the insured. 3. Except the rights of the United States Government, the State of New York and Town of Southold or any of their departments or agencies to regulate and control the use of the piers, bulkhead, land under water and land adjacent thereto. 4. Except riparian rights and easements of others over Deep Hole Creek, but policy does not insure any riparian rights or easements in favor of the owner of the premises herein. 5. Policy will except any state of facts an accurate survey would show. ALTA OWNER'S POLICY (6/17/06) SCHEDULE A File No.: ST08-02000 Amount of $10,000.00 Date of Policy: December 10, 2008 1. Name of Insured: Policy No.: O-8911-487323 Premium: $342.00 Town of Southold The estate or interest in the land described herein and which is covered by this policy is: Fee Simple Title vested in: Town of Southold who acquired title by deed from Estate of Ernest F. Dickerson,Exeeutrix: Dorothy Peters dated 12/10/2008 to be duly recorded in the Suffolk County Clerk's/Registers Office. 4. The Land referred to in this policy is described as follows: See Schedule A Description, attached hereto and made a pm-t hereof. Section: 115.00 Block: 12.00 Lot: 001.000 ALTA OW2qER'S POLICY (6/17/06) SCHEDULE A DESCRIPTION File No.: ST08-02000 Policy No.: O-8911-487323 ALL that certain triangular piece or parcel of land, situate in Mattituck, Suffolk County, New York, on the southerly side of New Suffolk Avenue at Deep Hole Creek; bounded on the North by New Suffolk Avenue 117.5 feet; on the East by property of James A. Torrey 130 feet; on the South by Deep Hole Creek; and on the West by property of Helen W. Tuthill. ALTA OWNER'S POLICY (6/17106) SCHEDULE B PART I File No.: ST08-02000 Po]icy No.: O-8911-487323 This policy does not insure against loss or damage (and the Company will not pay costs, attorneys' fees or expenses) that arise by reason of: No title will be insured to any land lying below the present or any former high water line of Deep Hole Creek. Except the right of the United States Government to establish harbor, bulkhead or pierhead lines or to change or alter any such existing lines and to remove or compel the removal of fill and improvements thereon (including buildings or other structures) from land now or formerly beyond the high water mark of Deep Hole Creek without compensation to the insured. Except the rights of the United States Government, the State of New York and Town of Southold or any of their departments or agencies to regulate and control the use of the piers, bulkhead, land under water and land adjacent thereto. Except riparian rights and easements of others over Deep Hole Creek, but policy does not insure any riparian rights or easements in favor of the owner of the premises herein. Policy will except any state of facts an accurate survey would show. STEWART TITLE INSURANCE COMPANY HEREIN CALLED THE COMPANY STANDARD NEW YORK ENDORSEMENT (Owner's Policy) Title No.: ST08-02000 Date of Issue: December 10, 2008 ATTACHED TO AND MADE A PART OF POLICY NUMBER O-8911-487323 1. The following is added as a Covered Risk: "11. Any statutory lien for services, labor or materials furnished prior to the date hereof, and which has now gained or which may hereafter gain priority over the estate or interest of the insured as shown in Schedule A of this policy." 2. Exclusion Number 5 is deleted, and the following is substituted: 5. Any lien on the Title for real estate taxes, assessments, water charges or sewer rents 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. This endorsement is issued as part of the policy. Except as it expressly states, it does not (i) modify any of the terms and provisions of the policy, (ii) modify any prior endorsements, (iii) extend the Date of Policy, or (iv) increase the Amount of Insurance. To the extent a provision of the policy or a previous endorsement is inconsistent with an express provision of this endorsement, this endorsement controls. Otherwise, this endorsement is subject to all of the terms and provisions of the policy and of any prior endorsements. DATED: December 10, 2008 Countersigned By: Authorized Office or Agent Stewart Title Insurance Company 300 East 42nd St., 10th FI New York, New York 10017 STEWART TITLE INSURANCE COMPANY STANDARD NEW YORK ENDORSEMENT (11/1/08) FOR USE WITH ALTA OWNER'S POLICY (6-17-06) CLOSING STATEMENT DOROTHY DICKERSON PETERS, as Executrix of the Last Will and Testament of Ernest Frederick Dickerson, deceased, to TOWN OF SOUTHOLD Open Space - 0.22 acre Premises: 5840 New Suffolk Avenue, Mattituck SCTM #1000-115.-12-1 Informal Closing by mail - December 10, 2008 Purchase Price: $ -0- (gift) Expenses of Closing: Title Report Payable to Stewart Title Insurance Company Check #99533 (1/20/09) fee title insurance policy $ 342.00 recording deed/certified copy $ 315.00 bankruptcy report $ 25.00 $ 682.00 Representation: Dorothy Dickerson Peters Gary Flanner Olsen, Esq. Scott A. Russell Mary C. Wilson, Esq. Melissa Spiro Melanie Doroski Executrix Attorney for Dickerson Estate Southold Town Supervisor Attorney for Town of Southold Land Preservation Coordinator Sr. Administrative Assistant TITLE NO.: ST08-02000 APPLICANT: Melissa Spiro LOAN POLICY NO.: t~le insurance companyt °°~''; INVOICE DATE: 'i'i'l'l]~ CLOSER: CLOSING DATE: CLOSING TIME: CLOSING LOCATION: December 15, 2008 Kathleen Hennessey December 10, 2008 PROPERTY ADDRESS: 5840 New Suffolk Avenue Mattituck, NY 11952 District: 1000 Section: 115,00 Block: 12.00 Lot: 001.000 PURCHASER/BORROWER: Town of Southold Fe~ Insurance $10,000.00 $342.00 $34Z00 Mortgage Insurance- 1s Mortgage Insurance - 2~ Standard Endorsements ($25.00 each) Special Risk Endorsements $0,00 $0.00 Market Value Ridc~ (Optional) SEARCHES Municipal S~'ches Certificate of Good Standing Certificate of Occupancy Charge Bankmptmes $25.00 $25.00 3 Day Rescission Additional Search Fee(s) SURVEY New Survey Survey Locam: Survey lnsl~ctioa RECORDING FEES/TAXES Deed(s): $150.00 $150.00 RP5217 $165.00 $165.00 Power of Attorney (Condo) Mortgage(s) Consolida~on(s) Satisfaaion(s) AFo-'meats(s) Agreements(a) NYS Traasfer Tax (usually pad by NYC Traasfer Tax (usually paid by se]le0 M~nslon T~x O~her Transfer Tax: Mortgage Tax (Mov~a~or) Mortgage Tax -(Mongagee) gl pt. Leader 2a~ Mortgage Tax (Mortgagor) 2~a Mortgage Tax (Mortgagee) ~A pt Lender ACKIS FEE Othc~ $ 0.00 ESCROW Escrow- To Hold Escrow - To Pa)' Escrow S~rvic~ Charge TOTAL: $ ?22.00~N. ; 692.00 RECEIPTS DIRECT CHECKS: AMOUNT: STIC CHECKS: AMOUNT: MELISSA A. SPIRO LAND PKESERVATION COORDINATOR melissa.spiro~tawn.southold.ny.us Telephone (631) 765-5711 Facsimile (631) 765-6640 DEPARTMENT OF LAND PRESERVATION TOWN OF SOUTHOLD OFFICE LOCATION: Town Hall Annex 54375 State Route 25 (comer of Main Rd & Youngs Ave) Southold, New York MAILING ADDRESS: P.O. Box 1179 Southold, NY 11971-0959 To: FFom: Date: Re: Supervisor Russell Town Board Town Clerk Land Preservation Committee Town Attorney Tax Assessors The Nature Conservancy Suffolk County Division of Real Estate Melissa Spiro, Land Preservation Coordinator December 11, 2008 DICKERSON ESTATE to TOWN OF SOUTHOLD Open Space SCTM#1000-115.-12-1 Building Department Data Processing Town Comptroller Public Works Planning Board Trustees Peconic Land Trust Please be advised that the Town has acquired the open space property listed below. If you would like any additional information regarding the purchase, please feel free to contact me. LOCATION: PROPERTY OWNER: PURCHASE DATE: PURCHASE PRICE: OPEN SPACE ACREAGE: FUNDING: MISCELLANEOUS: 5840 New Suffolk Avenue, Mattituck Dorothy Dickerson Peters as Executrix of the Last Will and Testament of Ernest Frederick Dickerson, deceased informal closing - 12/10/08 $-0- (gift) 0.22 acre CPF 2% land bank (closing expenses only) This property is listed on the Town's Community Preservation Project Plan. Potential uses for this property are open space, wetland preservation, drainage, and potential access to Deep Hole Creek, all to be in accordance with the environmentally sensitive nature of the property and a Town Board approved Management Plan for this parcel.