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From: MICHAEL HANSEN <br />To: GWM2.M-EDISON.RCURTIS, GWM2.M-MAR2.BWASSON <br />Date: 12/8/98 9:49am <br />Subject: Title Insurance <br />I got a call from Tom Nicolai already. I got the following information: <br />1. Tom has been in touch with Ben Fetherston. He expects to talk with Ben <br />today to determine the Transit District's interest in title insurance. If <br />Transit places a policy, it could result in some savings to the county. <br />2. The two title company prices are pretty much the same. There is a slight <br />discount ($700 or so) from First American since it placed the title insurance <br />for the land. <br />3. Our basic options are: <br />A. Buy mortgagee's insurance only. Cheapest option. Required by <br />financing. <br />B. Buy owner's standard policy with mortgagee's extended <br />coverage. Middle of price range. <br />C. Buy owner's extended policy with mortgagee's extended <br />coverage. Most expensive option. Would protect against any <br />liens against the land or construction that exist of record. <br />4. Agree to conference call tomorrow at 2 pm. Randy to place call to <br />Tom. He'll be standing by. <br />5. Billy, if you want to participate, let Randy know. <br />