1994 N77,Ltd. - lots 25-32, block 164, La Porte

Browse Search

EXCLUSIONS ~. r In adaitiJn to the Exceptions in Schedule e, we do not Insure you against loss, costs, al\omeys' fees, and expenses resulting from these Exclusions: 1, We do not cover loss caused by the exercise of governmental police power or the enforcement or vioIaIion of any law or government regulation, This Includes building and zoning ordinances and laws and regulations conceming: a. Land use b, Improvements on the land c. Land division d, Environmental protaclion This exclusion does not apply to notices of violations or notices of enforcement that appear In the public records at Policy Dale. However, there may be an Exception In Schedule e. 2. We do not cover the right to take the land by condemning R, unless: a. a notice of exercise of the right appears in the public records on the Policy Data, or b, the taking happened before the Policy Date and Is binding on you if you bought the land without knowing of the taking, 3. We do not cover title risks: a, that are created, allowed, or agreed to by you, b, that are known to you, but not to us on the Policy Date unless they appeared In the public records, c. that resuR In no loss to you, or, d, that first affect your IItle after the Policy Date .. this do.es notllmR the labor and material lien coverage in Item 8 of the Covered Title Risks, 4. We do not cover the effecI of failure to pay value for your tille. 5, We do not cover lack of a ~ght: a. to any land outside the area speclftcally described and referrad to In Item 3 of Schedule A, b. In SII8aIs, alleys, or waterways that touch your land, This exclusion does notllmR the access coverage In the Covered Tille Risks. 8. We do not cover any claim based upon allegations that your purchase of IItle (or acquisition of IiIle by gift or otherwise): a. was a fraudulent conveyance, fraudulent transfer, voidable distribution, or voidable dividend; b, should be subordinated or recharaclerized as a resuR of equitable subordlnallon; c. was a preferenllaltransfer unless (1) the Company or its issuing agent failed to IImely file for record the deed to you after delivery or (2) the recordallon of the deed to you Is not legal record notice, IJ'/e do cover the two types of claims described in c, (1) and c, (2) above,) 7. We do not cover the refusal of any person to buy, lease or lend money on your land because of unmarketability of the litle, 8. We do not cover claims concemlng the physical condition of your land or of the access to your land, CONDITIONS 1, DEFINITIONS a, Actual Loss, This is the difference between the value of your land without the covered IItle risk and the value of your land wRh the covered tilla risk, Thase velues are the respective values at the time you must fumlsh proof of your loss. ~. A deed or other conveyance of title to you or a prior owner, ~. A portion of your land someone else has the right to use for a special purpose. Govemmenl Reoulallon, Any federal, state, or local law, constRutional provision, regulation, ordinance, or guideline, bImlI, The land or condominium unit described in Schedule A and any improvements on the land that are real property, Knowledae or known. Actual knowledge, not constructive knowledge or notice that may be imputed to an insured by the publiC records, MmIgg. A type of lien on the land such as a deed of trust or other security instrument. Public Records. Those records required by Texas law and maintained by public officials in the counly where the property is located that give legal notice of mailers affecting your tille. i. J:iIm, The ownership interest in the land, as shown in Schedule A. j. We, us or our, The tille insurance compeny, This is Alamo TRIe Insurance of Texas, k. Ymwtll.w:. The insured. 2. CONTINUATION OF COVERAGE We insure you as long as you: a. own your Tille, b. own a mortgage from anyone who buys your Tille, or c, are liable for any Tille warranties you make, We insure anyone who receives your tille because of your death, We do not insul'!l your transferee or assignee. 3, YOUR DUTIES IF YOU MAKE A CLAIM You must follow this process to make a oIaim: a, You Musl Give Us Notice 01 Your Claim If anyone claims a right against your insured tille, you must notify us promplly, Send the notice to 813 N,W, Loop 410, #100, San Antonio, TX 78218 or call1-80D-292.5320 and ask for a claims allomey,lf you initially notify us by phone, we recommend that you also notify us in writing. Please include the Policy number shown in Schedule A, and the county where the land is. Our obligation to you is reduced or ended If: (1) you fail to give prompt notice, and (2) your failure affects our ability to dispose of or to defend you against the claim. Our obligation is reduced only to the eldentthat your fsilure affects our ability 10 dispose of or to defend you against Ihe claim, b. You Must Give Us Proof of Your Loss If We Reauest It You must send to us, If we request, your signed proof of loss within 91 days of our request on a standard form supplied by us, Within 15 days after we receive your notice of claim, we must request a signed proof of loss, If not, we waive our right to require a proof of loss, This waiver will nol waive our other rights under the policy, The stalament must have the following information to the best of your knowledge: (1) the Covered Title Risks which resulted in your loss, (2) the dollar amount of your loss, and (3) the method you used to compute the amount of your loss. c. You Must Provide Paoers We Reauesl, We may require you to show us your records, checks, Iellers, contracts, and other pepers that relitte to your claim of loss, We may make copies of these papers. If you tell us this information is confidential, we will not disclose II to anyone else unless we reasonably believe the disclosure is necessary to administer the claim. d. You Must Answer Questions Under Oath. We may require you to answer questions under oath. e. Effect of Failure to Coooerate. Our obligation to you reduces or ends If you fail or refuse to: (1) (a) provide a statement of loss, (b) answer our questions under oath, or (c) show us the papers we request, and (2) your failure or refusal affects our ability to dispose of or to defend you against the claim. 4. OUR CHOICES WHEN YOU NOTIFY US OF A CLAIM a. After we receive your claim notice or in any other way leam of a mailer for which we are liable, we can do one or more of the following: (1) Pay the claim against your tille, (2) Negotiate a settlement. (3) Prosecute or defend a court case related to the claim. (4) Pay you the amount required by this Policy. (5) Take other action under Section 4b, (6) Cancel this policy by paying the Policy Amount, then in force, and only those costs, attomeys' fees and expenses incurred up to that time that we are obligated to pay. We can choose which of these to do, b, If you report to us that a covered tille risk exists, we will promptly investigate to determine if that covered tille risk is valid and not barred by law or staMe. A covered tille risk is a tille risk that this Policy does not exclude or except. If we conclude that your claim, or any part of your claim, is covered by the policy, we will take one or more of the following actions to the extent that II is covered: (1) Institute all necessary legal proceedings to clear the tille to the property; (2) Indemnify you pursuant to the terms of the policy; (3) Issue a new tille policy without making exception 10 the covered tllle risk. If another insurer issues the new tille policy to your purchaser, lender or other transferee without making exception 10 the covered tille risk, we will indemnify the other insurer, (4) Secure a release of the covered tille risk. c. If we deny your claim, or ariy part of your claim, not more than 15 days after we deny the claim, we will: (1) notify you in writing, and (2) give you the reasons for denial of your claim in writing, b. c. d. e. f. g, h, PAGE 4