Bulletin: FL000108

Dear Associates:

In 1994, IMC Phosphates and certain of its affiliates (IMC) conveyed large tracts of lands in eastern Manatee and DeSoto Counties. The deeds from IMC contained lengthy restrictions which, among other things:

Prohibit residential development and restrict use of the property to agricultural and other purposes that would not interfere with mining and reclamation;

Contain a mineral reservation in favor of IMC that, beginning June 1, 2014, includes the right to conduct mining operations;

Provide that those mining rights include, among other things, the right to damage, destroy or dismantle houses, buildings, crops, etc. with no liability to any owner of the property.

In Manatee County these lands are located in:

Sections 25, 26, 31 through 36, Township 36 South Range 22 East

In DeSoto County these lands are located in:

Sections 19, 30 and 31, Township 36 South, Range 23 East AND Section 6, Township 37 South, Range 23 East.

On June 12, 2003, a summary Notice of Outstanding Restrictions and Reservations was recorded in each county. (The Manatee County Notice can be found in Official Records Book 1836, page 1787, and the DeSoto County Notice can be found in Official Records Book 535, page 543.)

We are not aware of any platted subdivisions in the affected properties.

Please be cognizant of these restrictions and reservations when searching lands located in the affected areas.