Lucien Paul & Cynthia Marie Moreau F101 warranty deed

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1. DEFINmONS OF TERMS. The following terms when used In this policy mean: (a) 'insured": the Insured named in Schedule A, and, subject to any rights or defenses the company would have had against the named Insured. those who succeed to the interest of the named insured by operation of law as distinguished from purchase Including, but not limited to. heirs, dlstribuleas. devisees, survivors, parsonal representatives. next of kin. or corporate. partnership or fiduciary successors, and specifically, without limitation, ttle following: (I) the successors in Interest to a corporation resulting from merger or consolidation or the distribution of the assets of the corporation upon partial or complete tiquldation: (ii) the partnel'lihipsiicc8siors In 'Iiitems\" to a general or Ilrriiilid partnerShip w1iich,dissolves but does not terminate: (Iii) the successors Inlntarest. to a general or limited partnership resulting from the distribUtion of the asseis of the general or ilmited p,rtnerShlp upon partial o~ cOmplete liquidation, (Iv) the successors In interest to a joint venture resulting from the distribution of the assets of the joint venture upon partial or complete liquidation: (v) the successor or substitute tnJstee(s) of a tnJstee named In a written tnJst instrument: or (vi) the successors In Interest to a trustee or trust resulting from the distribution of all or part of the assets of the tnJsl to the beneficiarias thereof. (b) "Insured c1almanr: an Insured claiming loss or damage. (c) "knowledge" or "known": actual knowledge, not constnJctive knowledge or notice that may be imputed to an insured by reason of the public records as defined in this policy or any other records which impart constructive notice of matters alfecting the land. (d) "land': the land described or refened to in Schedule A, and improvements affixed thereto that by law constitute real property. The term "land" does not include any proparty beyond the Iinas of the area 'described or referred to In Schedule A, nor any right, tiUe, Interest, astate or easement In abulling straets. roads. avenuas, alleys, lanas. ways or waterways, but nothing herein shall modify or limit the extent to which a right of access ro and from the land Is insured by this policy. (e) "mortgage': mortgage, deed of tnJst, trust deed, or other security InstnJment (I) ~publlc records":.recordsestabllshed under. state statutes es,Dale of Policy.for.the,purpo,seofimparting r.!)nstnJctlve notice ofmatters.rel~ting to,real.property to.purchasersJor..value _ _..~ and without knowledge. With respact to Section 1(a)CIY) of the Exclusions From Coverage. "public records' also shall include environmental protection liens filed in the records of the clerk of the United States district court for the dislrict In which the land is located. (g) "access": legal right of access to \he land and not the physical condition of access. The coverage provided as to access does not assure the adequacy of access for the use Intended. 2. CONTINUATION OF INSURANCE AFTER CONVEYANCE OF TITLE. The coverage of this policy shall continue In force as of Date of Policy in favor of an insured onty so long as the insured retains an estate or Interest in the land. or holds an Indebtedness secured by a purchase money mortgage given by a purchaser from the insured. or only so long as the Insured shill have Iiablllly by reason of covenants of warrenty mede by the insured in any transfer or conveyance of the estate or Interest 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. (ii) and Indebtedness 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 4 (a) below, or (il) In case knowledge shall come to an insurad hereunder of any claim of tiUe or Interest that Is adversa to the tille to the estate or Interest, as Insured, and that might cause loss or damage for which the Company may be liable by virtue of this policy, If prompt notice shall not be given to the Company, then as to the Insured all liability of the Company shall terminate with ragard to the matter or matters for which prompt notice is required; provided, however, thet failure to notify the Company shall In no cese prejudice the rights of any )nsured under this policy unless the Company shall be prejudiced by the failure and then only the extent of the prejudice. .', ,. , When, aller the date of the policy, the Insured notifies the Company as required herein of a Iiln, encumbrance, adve~ clalll! or,otf:1e( ~efect in tiUe to the estate or Interest in the land Insured by this poliCy that Ii not excluded or excepted from the coverage of this policy, the ~mpany shall prompUy Investigate the charge to de!8rmine whether the lien. encum~nce! !!dverse' ;- , claim or defect Is valid and not barred by law or stetute. The Company shall notify the Insured In writing, within a reasonable time, of Its determination as to the validity or invalidity of the Insured's claim or charge under the policy. If the Company concludes that the lien, encumbrance, adverse claim or defect is not covered by this policy, or was otherwise addressed In the closing of the transection in connection with which this policy was issued, the Company shall spacifically advise the Insured of the reasons for Its determination. If the Company concludes that the lien, encumbrance, edverse claim or defect Is velld, the Company shall take one of the following actions: (I) Institute the necessary proceedings to clear the lien, encumbrance, adverse claim or defect from the tiUe to the estate as Insured; 01) Indemnify the Insured as provided In this policy; (ill) upon payment of appropriate premium and charges therefor, issue to the Insured claimant or to a sUbsequent owner, mortgagee or holder of the estate or interest In the land insured by this policy, a policy of title insurance without excaption for the lien, encumbrance, adverse claim or delecl, seld policy to be In an amount equal to the current value of the property or, W a mortgagee policy, the amount of the loan; (Iv) indemnify enother tiUe insurence company in connection with Its Issuance of a pollcyOes) of tiUe insurance without.exception for the lien, encumbrance, adverse claim or defect; (v) secure a release or other document discharging the lien, encumbrance, adverse claim or defect; or (vi) undertake a combination of (I) through (v) herein. CONDITIONS AND STIPULATIONS The following matters are expressly excluded from the coverage of this policy and the Company will not pay loss or damage, costs. allomeys' fees or expenses that arise by reason ot 1. (a) MY law, ordinance or govemmental regulation (including but not limited to building and zoning laws, ordinances, or regulations) restricting, ragulating, prohibiting or relating to (i) the occupancy, use, or enjoyment of the land; (ii) the character, dimensions or location of any Improvement now or herealler erected on \he land; Oil) a separation In ownership or a change in the dimensions or area of the land or any parcel of which the land is or Vias a part: or (Iv) environmental protection, or the effect of any violation of these laws, ordinances or governmental regulations, except to ihe extent that i nOtice 'of the enforcement thereof or a notice of a defect, lien or encumbrance resulting from a violation or allaged violation affecting the land has ,been recorded In.the public recordsatDateofPollcy..' '.":.' ' "- " '. .. ' . ; ,',,:', .. '_ . ,;,' ,'" .., (b) My governmental police power not excluded by (a) above. except to the extent that a notice of the exercise thereof or a notice of a defect, lien or encumbrance resulting from a violation or alleged violation affecting the land has been recorded In the Public recordsat Date of Policy. '" _ ':: '::.:" :....':: .:;--,:. ',~.:, -.- .: '.'--" :~..:': 2. Rights of eminent domain unless notice of \he exercise thereof has been recorded In the Public records at Date of Policy, but not excluding from coverage any laking that has occurred prior to Date of Policy which would be binding on the rights of a purchaser for value without knowledge, 3. Delecl$, liens, encumbrances. adverse claims or other matters: (a) created, suffered. assumed or agreed to by the insured clalman~ (b) nol known to the Company, not recorded In the pUblic records at Date of Policy, but known to the Insured claimant af1!l not disclosed In writing to the Company by the Insured claimant prior to Ihe date the Insured claimant became an Insured under this policy; (c) resulting In no loss or damege to the Insured claimant; (d) attechlng or created subsequent to Date of Policy; (e) resulting In loss or damage that would not have been sustained If the Insured claimant had paid velue for the estate or interest Insured by this PoUcy. 4. The refusal of any person to purchase, lease or lend money on the eslllte or Interest covered hereby In the land described In Schedule A because of unmarketabillty of the tiUe. 5. Any claim, which arises out of the transaction vesting In the person named In paregraph 3 of Schedule A the estate or Interest Insured by this policy, by reason of the operation of federal bankruptcy, state insolvency. or other state or federal creditors' rights laws that Is based on either (i) the transaction Cl88ting the estate or Interest Insured by this Policy baing deemed a fraudulent conveyance or fraudulent transfer or a voidable distribution or voidable dividend or 01) the subordination or recharacterization of the estate or interest insured by this Policy as a result of the applicetion of the doctrine of equl!l!ble su!Xlrdi~tiOMt.([jj).!IJe .!ransectiO!1 f!!8Ji!1l1.thees.!8te o,! interest Insure.!! by thl!,.PoIlcy J!!!!!g. ~eemed a pre~_renti~1 transfer except '!here the preferential transfer results from the failure of the Company or Its issuing agent to timely file for record the instnJment of transfer to the Insured alier delivery or the-failOie of'suCh'recoiUation Iil-impail notiCiilil-a purmaser lOr value or e judgment or lien creditor. EXCLUSIONS FROM COVERAGE