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<br />CONDmONS AND STIPULATIONS
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<br />1. DEFlNl1l0N OF TBRMS. money mortgage given to the iDswed.
<br />The followiq teJml when used in this policy mean: 3. NOTICE OF CLAIM TO BE GlVHN BY INSURHD CLAIMANT.
<br />(a) "inIuJed": the iDIured uamed in Scbedule A, and , subject to any riptI or TheiDluredshallnotifytheCompanyprompdyinwriliq(i)inc:ueofanYlilialllioD
<br />deflllllel the Company would bave had againItthell8llledinsured, thole wbolUCCeed 81 let fonh in Sectian 4(a) below, ('Ii) in cue Imowledae Iha11 CClIDe to an inlUlllll
<br />to the inIerat of the lUIIIled insmed by opera1iaD of h1w 81 cIiItinpiIhed from hereunder of any claim of title or inIerat that iI adverse to the title to the estate or
<br />pun:haIe incIudini, bu1 DOl Hmited to, heirs, diIt.ribuleeI, deviIea, IIIn'iwn, inlenl8t,.. inlured,llIId that mi&ht CIUIeloll or dam. forwhich the Company may
<br />penonaI. IIlpftilleDtative.. next of kin, or COIpOJ8te, padDerIhip, or fJduc:ialy beliable byvirtueofthispolicy. IfpromplnCllicelha11notbegiventotheCompany,
<br />lIUCCeIIOD and specifically, without limitation. the following: then .. to the iDIured an Jiabili1y of the Company Ihall terminate with reaard to the
<br />(i) the IUCllIIOIII in intelllll to a COIpOI'8lica resu1Iina from melJeror conlClliclation mauerormatten forwbich pramplDOtic:eil required; provided, however, thatfailure
<br />or the diItribution of the alleu of the COIpOflIlion upon partial or complete to DOIify the Company Ihall in no cue prejudice the righll of any inlUred under this
<br />liquidation; policy unlesl the Company shall be prejudiced by the failure and then only to the
<br />(ii) the partnenhip IlICC8Ilon in intereIl to a genrnl or limited partnenhip which exteIIt of the prejudice. .
<br />diIolveI but does nOl terminate; When, after the cIate of the paticy, the insmed IlCllifieI the Companies.. required
<br />(iii) the Iuc:c:ellon in intelllll to a aenrnl or limited partnership remJtin& from the hen:in of a lien, eIlCUJI!bnnce, adverse claim or cther defect in title to the estate or
<br />cliItribution of the "Ietl of the gmeral or IimiIed pannenhip upon partial or inleJUt in the land inIun:d by this policy that iI DOl ucluded or excepted from the
<br />CClIDplete JiquidatiCD; coverage of this policy, the Company IhaD pnmpdy invulipte the charp to
<br />(iv) the IUCc:elIOII in inteftIIt to ajoint venture rauJtin& from the diltributioD of the deteJmine whether the lim, eDcmnbranc:e, adverse claim or defect iI valicland not
<br />asle1l of the joint venlUle upon parIial or ClOIDplete liquidalion; barred by Jaw or lItaIIIte. The Company IbalJ. notify the insmed in wrilina, wiIhin a
<br />(v) the IUc:ces1Ol' or substitute 1rUItee(1) of a tnJItee lIlIII1ed in a written trUIt reascmable time. of ill detemUnatiOll .. to the validity or invaliclity of the inSUred'1
<br />instrument; or claimorchargeunderthepoJic:y. IftheCompanyconc:ludelthattheJicn,mc:umbrmce,
<br />(vi) the 1Uc:ces1Olll in intereIl to a truItee or trull resulIing from the diIItributiOll of adverse claim or defect iI DOt covered by this policy, or wu OIberwiIe adelrelled in
<br />an or put of the 81181I of the trUIt to the bendic:iaries thereof, the c:Iosina of the tranIac:Iion in COIII18CliCD with which thil policy wal illUed, the
<br />(b) "inlured claimant": an insmed claimiD& lOll or damage. Company lhallspec:i5cally adviIe the insured of the realCllll for ill cletenninatioD. If
<br />(c) "knowledge" Or "known": actual knowledae. nOl conltructive knowledge or the Company concludes that the lim, encumbrance, adverse claim or def~ ~aIicI,__ _,
<br />notice that may be imP-1~'~ an i@~......,by ~of~p:al!lic.r~co~~~~.the,Gompany~IhaIbIake'one:of::thriollowing'ac:aiou:'-(i):iDitiiIite'die.necellII)'
<br />~-ii{tJiij-potiCy or any oI~ n:cOidswhicb impart conltructive notice of matten proc:eecIiDgI to clur the lien, encumbrance, adverse claim or defect from the title to
<br />affecting the land. the estate 81 inIured; (ii) incIemnify the insured 81 provicIcd in this policy; ('Iii) UJlClIl
<br />(d) "land": the Janel described or Jeferred to in Schedule A, and impruvemaItI payment of appropriate pranium and c:harJu theJefor, ilsue to the inlured claimant
<br />affixed thereto which by law CCDllitute real property. The tenD "land" does DOt or to 8 lubsequent owner, mOltlagee or holcIer of the estate or inleJUt in the land
<br />include any pmpeny beyCDd the lines of the area described ornfened to in Sc:hedule insured by this polli:y, a policy of tide inlUllllce without exception for the lien,
<br />A, nor any right, tide, inlen:lt, estate or euemllDtin abuuing lIlreetl, roads, avenues, encumbrance, ad~ claim or defect, said policy to be in an amount equal to the
<br />aJ1eyI,Janes, ways or waterWay.. but ItClIbiq hen:in Iha11 modify or limit the llllleDt c:umIIlvalue of the property or, if a mortalllee policy, the amauntof the loan; (iv)
<br />to which a right of acceIl to and from the land iI iDIured by thil policy. inclenmify lIIIOIber title inlUnnce compiny in CClIJDCltj",. with ill illUlDce of a
<br />(e) "mortgage": mortgage. deed of trull. trull deed, or other lIIlCUIity instrumenL policy(ies) of title inI1lnmce without e.xc:epIioa for the lim, 1lDcumbranc:e, advene
<br />(f) "public n:cordI": n:c:onIl eltablilhed under state ItatUIeI at Date of Policy for claim or defect; (v) seaue a release or cther document diIc:harJin& the lien,
<br />the puIpOIe fI. imparlina COIIItIUCIive notice of mauen relating to real property to CDCUIDbnmce, adverse claim ordJifec:t; or (vi) undertake a combination of (i) through
<br />pmc1wen forvalue and without knowledge. W"llhrespecttoSecrion 1 (a)(iv)fl.the (v)heJein.
<br />Hxc:1u1ioUl From Coverage, "public recordI" also Ihall include environmental 4. DHFHNSE AND PROSECUTION OF ACI'lONS: DUTY OF INSURED
<br />protectica lienl filed in the n:c:onIl of the cleJtt fI. the United Statel diltrict c:owt for CLAIMANT TO COOPHRA TB.
<br />the district in which the Janel illocated. (a) Upc:m wriuen IeqUeIt by the inlUred and IUbject to the optiCllll CCDlained in
<br />(a) "aCCllll": legal right of ac:c:eIIl to the land and DOl the physical condiIiCD of Secrion 6 of these CondiJicml and StipI1atiClllI, the Company, at ill own COlt and
<br />ac:c:eIIl. The coverage pIOvideclu to acc:eIIl does not Ulure the Idequacy of acc:eIIl without UI1JUIODable delay ,1Ihall provide for the defellle fI. an insured in IitigatioD
<br />for the \lie intended. in which any thUd party IIIeIlI a claim adverse to the title orinlellllt 81 inIured, but
<br />2. CONTINUA nON OF INSURANCE AFI'HR CONVEYANCE OF'TITIA cmly 81 to those ItatedClUlel fI. action aUeainl a defect, lien orencumbranc:e or Cltber
<br />The covenae of this policy IhaIl CODtinue in fcm:e 81 of Date of Policy in favor fI. mauer insmed againll by this policy. The Company IhaIl have the right to select
<br />an iDIured aaly 10 long 81 the inlured retains an estate orintelllltin the land, or holds CCIUIIHlof ill choice (subject to the ri&ht of the insured toobjectforlllUCD.ble callie)
<br />. an indebtednesl secured by a purdwe lIlODey mortgage given by a purc:huer flUll to n:pnlIIeDt the insured.. to thole stated CIUIIlI of action and IhaIl DOl be li8ble fOr
<br />. the ~ or only 10 long 81 the inlured Iha11 have liability by reaIClIl of COYIlIlIIIl18 and wiD DOl pay the fea of any other counsel. The Company will nOl pay any fees,
<br />ofwamnty made bytheinlured in any traDllferorCCDveyanceoftheeltate or-intel'elL . COIl8 orCllpeDIeI inc:umd by theinsuled in thedefellle of thole eaules of action that
<br />'IbiI policy IhaD DOl continue in fcm:e in favor'" purchaser from the insmed of -"aUep matten not ~Il by this policy.
<br />either (i) an estate orinterelt in the land, or (ii)~1 secured by a ~se (b) The Company ~ the right, at ill own COlt, to institute and prosec:uteany
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<br />EXCLUSIONS FROM COVERAGE
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<br />Thefollowiq mauen lie exprelIdyexcluded from the coverage of this policy IIIld butlmovm totheiDluredc1aimrmt8llllnotcli.scloledin wriI.ina to the Companybytha
<br />the Company wiD DOt pay loll or damage. COItI, \IIlOmrl)'I' fees or expllDles which insured c:1aimantpriorto the cIate the insured claimant became an inmred underlhil
<br />arise by reaIClIl of: policy;
<br />1. (a) Any law, cxdinanc:e or govemmllDtallllgulatiCD (inc:luclina but not IimiIed to (c) IUUlI:ina in DO lOll or damap to the insured claimant;
<br />builcIin&andlDlliDalaWl,ordiDanca,orregulaliam)ratriclina,reauJating,probibiIina (d) altaChinl or created IUbsequent to Date of Policy;
<br />or relating to (i) the occupancy, \lie, or enjoyment of the land; (ii) the cJwac:ter, (e) IeIUlIinI in loll or damaae that WClUJd DOt have been IUltained if the inIured
<br />dimensiCDI orl0c:ati0nof anyimpJOvementDOW orhereaftererected CD the land; (iii) claimant had paid value for the eItate or interest insured by this policy.
<br />a separation in ownership or a c:hanp in the climllDliool or area of the land or any 4. The n:fualof anypellOll topuzd1Ue.leueorlllDdmoney CDtheestateorinterest
<br />parcel of which thelandil orwala part; or(iv)llDviIonmeatal pRlIecliCD,ortheeffect ccweredberebyin the land clelcribedin Schedule A because ofUlllllllketab.iofthe
<br />of any violatiCD of these laWI, onlinanceI orgovemmental repIaticm, except to the title.
<br />exteIIt that a nCllice of the eafOR:elDCDt thereof or a DOtic:e of a defect, lien or S. Any claim, whidt lIIiIea out of the traDIacIicD veIlin& in the penoo aamed in
<br />enc:umbnmce resulIiDa from a via1ation or aUeged viCllaliOn affecting the Janel has ptlI'IlPlpb 3 of Schedule A the IIIlate orilllclUt insured by this policy, by reaIClIl of
<br />been reconfed in the public reconIIat Date of Policy. the ClpllIIItioD of federal bmIIaupIcy, Itate insolveacy, or ether Itate of feden1
<br />(b) Any Icwemmmtal police power not excluded by (a) above, except to the exteIIt cIeditoIlI' riptllawl that iI bued OIl eilher (i) the lrlIIIIaCIim c:reaIina the eltate or
<br />that a notice of the exen:iIe then:cl or a DOtic:e of a defect, lien or eDCUIIIbrBnce intelelll Insured by this PoIicy'beiDa deemed a frauduleat CCDveyaDCle or fIlIucIulmt
<br />IU1IlIin& from a violatiCD or alleged violation affec:tiq the land has been reconfed in IIllDsfer or 8 voidable diItributiCD or vaidab1e dividead, (ii) tha IUbcmtinatiCll or
<br />the public RlCOIdI at Date of Policy. . rechamcterizatioD of the CIUlte or intereIl inmrecl by this Po1icy .. a result of the
<br />2. Righll of eminent domain UDleII nCllice of the exen:iIe thereof has been recorded applicatiCD of thacloCtrineof equiIable IUborcIinatioa or (iii) the lI8IIIaCtioa creaIin&
<br />in the puhIic reconIIat Date of Policy, but DOt altc:1Dclina from coverage any taking the estate orinleJUtiDluredbythis Policybeiq deemedapreferentialtraDlferexcept
<br />that has occurred prior to Date of Policy which would be bincting ClIl the rights of a where tbe ptd'eremiallr8nlfer resu1ta from Ihe failure of the Company orill illUina
<br />purc1wer forvalue without knowledge. agent totimdy me for record the inl1nlment oflrllnlferto the insured after cIeliveJ)'
<br />3. Defecll, lienl, encmnbnmClll, adverse claiml or other matten: or the failure c4 such recordatiOll to impart notice to a purdluer for value or a
<br />(a)_~ted, suffered,..~ ora~ to by the inIured c1aimant;r._ __i!!t~en~_or.lill!l c:re4it9r. -~-- - 'IE --:..'-.....
<br />-~--'--"-~-,..--(6)nolknOwnrothe~fioi~tlieP"'h1;.,ieCOidi8i-oueOfPOlicy:__ --==-=..=- ;;!:;'.'"
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