I
<br /> SCHEDULE OF EXCLUSIONS FROM COVERAGE
<br /> The following matters are expressly excluded from the coverage of this policy:
<br /> AAmylaw, ordinance or governmental regulation (including but not limited to building and zoning ordinances) re- .
<br /> trlctirig or regulating or prohibiting .tho occupancy, use or enjoyment of the land, or regulating the character,. :,
<br /> dimensions or location of any improvement now or hereaftgr erected on the land, or prohibiting it separation in
<br /> ownership or a reduction in the dimensions or area of the land, or the effect of any violation of any such law, ordi-
<br /> nance or governmental regulation.
<br /> 2. Rights of eminent domain or governmental tights of police power unless notice of the exercise of such rights appears
<br /> in the public records at Date of Policy.
<br /> -3. Defects, liens, encumbrances, adverse claims, or other matters (a) created, suffered, assumed or agreed to by the .
<br /> t insured claimant; (b) not known to the Company.and not shown:by.the public .records but known to the insured
<br /> acquired '
<br /> claimant either at Date of Policy or at the date such claimant acqed an.estate or interest insured by this policy
<br /> and not disclosed in writing by the insured claimant to the Company prior to the date such insured claimant became
<br /> an insured hereunder; (c) resulting in no loss or.damage.to the insured claimant; (d) attaching or created subse-
<br /> quent to Date of Policy; or(e)resulting ifi loss or damage which would not have been sustained if the insured claim- - >
<br /> ant had paid value for the estate or Interest-insured by this policy.
<br /> CONDITIONS AND STIPULATIONS
<br /> 1. DEFINITION OF TERMS (b) The Insured shalt notify the Company promptly In
<br /> The following terms when used in this Polley mean: writing (1).in case any action or proceeding Is begun or de- .,
<br /> Tense is Interposed as aet forth In (a) above, (h) In case know)-
<br /> (a) "insured": the insured named In Schedule A, and, edge shall come to an Insured hereunder of any claim of title t
<br /> subject to any rights or defenses the Company may have or Interest which is adverse to the title to the estate or interest, -
<br /> ' against the named insured, those who succeed to the interest as insured, and which might cause loss or damage for which
<br /> of such insured by operation of law as distinguished from the Company may be liable by virtue of this policy, or (iil) if
<br /> purchase including, but not limited to, heirs, distributees, title to the estate or interest, as insured, is rejected as un-
<br /> devisees, survivors, personal representatives, next of kin, or marketable. If such prompt notice shall not be given to the
<br /> corporate or fiduciary successors. 1 Company, then as to such insured all liability of the Company
<br /> (b) "insured claimant": an insured claiming loss or dam- shall. cease and terminate in regard to the matter or matters
<br /> age hereunder. - tor.t�hieh such prompt notice Is required; provided, however, i
<br /> (c) "knowledge": actual knowledge, not conatruetive that failure to notify shall In no case prejudice the rights of any
<br /> illftowledge or notice which may be imputed to an Insured by such Insured under this policy unless the Company shall be
<br /> Wsun pmludieed by such failure and then only lu the extent of
<br /> such Prejudice.
<br /> , (it) "lend": the land described, specifically or by reference ..,
<br /> In Schedule A, and Improvements affixed thereto which by law (e) The Company shall have the right at its own cost to
<br /> constitute real property; provided, however, the tern "land" Institute and without undue delay prosecute any action or -
<br /> does not include any property beyond the lines of the area Proceeding or to do any other act which in its opinion may be
<br /> ,�. sPeclfically described or referred to in Schedule A, nor any necessary or desirable to establish the title to the estate or
<br /> right, title, interest, estate or easement in abutting streets, interest as Insured, and the Company may take any eppro-
<br /> no ds, avenues, alleys, lanes, ways or waterways, but nothing priate action under the terms of this policy, whether or not
<br /> %2- herein shell modify or limit the extent to which a right of It shall be liable thereunder, and shall not thereby concede
<br /> .siccess to and from,the land is Insured by this policy. liability or waive aay.provision of this policy.
<br /> Ilk (a) "mortgage", mortgage, deed of trust, trust deed, or (d).Whenever the Company shall have brought any action
<br /> other security instrument.. or Interposed a defense as required or permitted by the pro-
<br /> (f) "ppublic records tliose records which by law Impart visions of this policy, the Company may pursue any such
<br /> c mstruellve notice of matters relating to said land. litigation to final determination by a court of competent
<br /> Juris—diction and expressly reserves the right, in its sole discretion,
<br /> 2. CONTINUATION OF INSURANCE AFTER CONVEYANCE OF to appeal from any adverse judgment or order. "
<br /> = TITLE (e) In all cases where this policy permits or requires the
<br /> Company to prosecute or provide for the defense of any action 4
<br /> _5 The coverage of this policy slisli continue in force as of or proceeding, the insured hereunder shall secure to the •. : •_
<br /> Date of Policy in favor of an insured so long as such insured Company the right to so prosecute or provide defense In such
<br /> !i retains an estate or interest in the land, or holds an indebted- action or proceeding, and all appeals therein, and permit the ..
<br /> mess secured by a purchase money mortgage given by a pur- Company to use, at its option, the name of such insured for
<br /> chaser from such insured, or so long as such insured shall such purpose. Whenever requested by the Company, .such
<br /> have liability by reason of covenants of warranty made.by insured shall give the Company all reasonable aid in any such
<br /> such insured in any transfer or conveyance,of such estate'or action or proceeding,In effecting settlement,securing evidence,
<br /> interest; provided, however, this pot Icy shall not continue in obtaining witnesses, or prosecuting or defending such action
<br /> force in favor of any purchaser from such insured of either or proceeding, and, the Company shall reimburse such insured
<br /> said estate or Interest or the Indebtedness secured by a pur for any expense so Incurred.
<br /> chase money mortgage given to such insured.
<br /> 4. NOTICE OF LOSS— LIMITATION OF ACTION
<br /> 3. DEFENSE AND PROSECUTION OF ACTIONS—NOTICE OF
<br /> CLAIM TO BE GIVEN BY AN INSURED CLAIMANT In addltion to the notices required under pararzraph 3(b)
<br /> of :these Conditions and Stipulations, a statement in.writing `
<br /> "r. (a) The Company, at its own cost and without undue of any loss or damage for which it is claimed the Company
<br /> delay, shall provide for the defense of an insured In all litlga- Is liable under this policy shall be furnished to the Company
<br /> �. lion consisting of actions or proceedings commenced against , . within 90 daps after such loss or damage shall have been de-
<br /> insured, or a defense Interposed against an insured in an tennined and no right of action shall accrue to an insured
<br /> n to enforce a contract for a sale of the estate or interest claimant until 30 days after such statement shall have been
<br /> ;t aid land, to the extent that such litigation is founded upon furnished. Failure to furnish such statement of loss or damage
<br /> an alleged defect. lien, encumbrance, or other matter Insured shall terminate any liability of the Company under this Policy
<br /> ' against by this policy, as to such loss or damage. "
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<br /> L Continued on Front of Hack Cover
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