2001-12-17_REPORT - M1983067 ‎(13)‎

• Permit No: M1983067
• IBM Index Class Name: Report
• Doc Date: 12/17/2001
• Doc Name: PUBLIC HEARING NOTIFICATION
• Media Type: D
• Archive: No

SCHEDULE OF EXCLUSIONS FROM COVERAGE
The following matters are expressly excluded from the coverage of this policy:
1. Any law, ordinance or governmental regulation (including but not limited to building and zoning ordinances) re-
stricting or regulating or prohibiting the occupancy, use or enjoyment of the land, or regulating the character,
dimensions or location of any improvement now or hereafter erected on the land, or prohibiting a separation in
ownership or a reduction in the dimensions or area of the land, or the effect of any violation of any such law, ordi-
nance or gpvernmental regulation.
2 Rights of eminent domain or governmental rights of police power unless notice of the exercise of such rights appears
in the public records at Date of Policy.
3. Defects, liens, encumbrances, adverse claims, or other matters (a) created, suffered, assumed or agreed to by the
insured claimant; (b) not known to the Company and not shown by the public records but known to the insured
claimant either at Date of Policy or at the date such claimant acquired an estate or interest insured by this policy
and not disclosed in writing by the insured claimant to the Company prior to the date such insured claimant became
an insured hereunder; (c) resulting in no loss or damage to the insured claimant; (d) attaching or created subse-
quent to Date of Policy; or (e) resulting in loss or damage which would not have been sustained if the insured claim-
ant had paid value for the estate or interest insured by this policy.
CONDTI'IONS AND STIPULATIONS
1. DEFINTfION Of TERMS
The following terms when used in this policy mean:
(a) "insured^: the insured named in Schedule A, and,
subject W any rights or defenses the Company may have
against the namM insured, Uhose who succeed to the interest
of such insured by operation of law as distinguished from
purchase inducting, but not limited to, heirs, distributees,
devisees, survivors, personal representatives, next of kin, or
corporate or fiduciary successors.
(b) "insured Uaimant": an insured chiming loss or dam-
age hereunder.
(t) "knowledge": actual knowledge, not constructive
knowledga or notitt which may be imputed W an insured by
reason of any public records.
(d) "land": the land described, specifically or by reference
in Schedule A, and improvements affixed thereto which by law
constitute real property; provided, however, the term "land"
does not inUude an property beyond the lines of the area
specifically described or refereed W to Schedule A, nor any
nght, title, interest, estate or easement in abuUing streets,
roads, avenues, alleys, lanes, ways or waterways, but nothing
herein shall modify or limit the extent to which a right of
access to and from the land is insured by this policy.
(e) "mortgage": mortgage, deed of trust, trust deed, or
other security instrument.
(Q "Qublic rcrnrds": those records which by law impart
tonsWdtve notice of matters relating W said land.
Z. CONTINUATION OF INSURANCE AFTER CONVEYANCE OF
The coverage of this policy shall continue in force as of
Date of Policy in favor of an insured so long as such insured
retains an estate or interest in the land, or holds an indebted-
ness secured by a Purduu money mortgage given by a pur-
duser from such insured, or so long as such insured shall
have liability by reason of covenants of warranty made by
aueh insured in any transfer or conveyance of such estate or
interest' provided, however, Ihis policy shall not continue in
force in favor of any purchaser from such insured of either
said estate or interest or the indebtedness secured by a pur-
Uuse money mortgage given W such insured.
~. DEFENSE AND PROSECUTION OF ACTIONS -NOTICE OF
CIAIIN TO BE GIVEN BY AN INSURED CLAIMANT
(a) The Company, a[ its own cost and without undue
delay, shall provide for the defense of an insured in all litiga-
tbn constsUng of actions or prneeedings commenced egafnst
such Insured. or a defense Interposed against an Wured in an
action W enforce a contract far a sale of the estate or interest
!n nid land. W the extent Uut such litigation Is founded upon
an alleged defect, lien, encumbrance, or other matter insured
against by this Polley.
(b) The insured shall notify the Company promptly in
writing (i) in case any action or proceeding is begun or de-
fense is interposed as set forth in (a) above, (ii) in case knowl-
edge shall rnme to an insured hereunder of any Uaim of title
or interest which is adverse W the title to the estate or interest,
as insured, and whiUr might cause loss or damage for which
the Company may be liable by virtue of this policy, or (iii) if
title W the estate or interest, as insured. is rejected es un-
marketable. If such prompt notice shall not be given to the
Company, then as W such insured all liability of the Company
shall cease and terminate In regard W the matter or matters
for Which such prompt notice is required; provided, however,
that failure W notify shall in no case prejudice the rights of any
such insured under this policy unless the Company shall be
prejudiced by such failure and then only to the extent of
such prejudice.
(c) The Company shall have the right at its own cost to
institute and without undue delay prosecute any action or
proceeding or to do any other ad which in its opinion may be
necessary or desirable W establish the title to the estate or
interest as insured. and the Company may take any appro-
priate adion under the terms of this policy, whether or not
it shall be liable thereunder, and shall not thereby concede
liability or waive any provision of this policy.
(d) Whenever the Company shall have brought any action
or interposed a defense as required or permitted by the pro-
visions of this policy. the Company may pursue any such
litigation W final ddertnimtion by a court of competent juris-
diction and expressly reserves the right, in its sole discretion,
to appeal from any advetx judgment or order.
(e) In ell eases where this policy permits or requires the
Company to prosecute or provide for the defense of any action
or proceeding, the insured hereunder shall secure W the
Company the right W so rosecute or provide defense in such
action or proceeding, antl all appeals therein, and permit the
Company W use, at its option, the name of such insured for
such purpose. Whenever requested by the Company, such
insured shall give the Company all reasonable aid in any such
action or proceeding, in effecting settlement' securing evidence.
obtaining witnesses, or prosecuting or defending aueh acrion
or proceeding, end the Company shall reimburse such insured
for any expense so incurred.
4. NOTICE OF LOSS - WNTfATION OF ACTION
In addition W the notices required under paragraph 3(b)
of these Conditions and Stipulations, a statement in writing
of any loss or damage for which it is claimed the Company
is liable under this policy shall be furnished to the Company
within 90 days after such loss or damage shell have been de-
termined and no right of adion shall accrue Wan Insured
claimant until 30 days after such statement dull have been
furnished. Failure W famish such statement of loss or damage
shall termlmte any Iiablliry of the Company under this policy
as W such loss or damage
ContJnued on Flout of Badt Cover