Another ALTA Survey

I will be going back north to Indiana to undertake an Alta survey on the North half of a 12 unit apartment complex. The owner is going to get a mortgage on the north six buildings in order to finance the completion of the south six buildings.

Access to the property is by a drive off a public street on the north side. Similarly, utilities enter and serve both tracts from the north. Storm sewers, however exit into a retention area on the south side of the south tract. It is clear that cross easement must be created to protect the lenders on each of these tracts.

I wrote descriptions, containing a “subject to” and “together with” clause to be made a part of the mortgage of the north portion. The north portion is the only one to be encumbered by a mortgage at the present time. I had talked to the title company and agreed that the easements needed to be in the mortgage because there was no separation of estates, which would be necessary in order to write a recordable free-standing easement.

With the descriptions furnished and the title work underway, I am ready to head north. More later.