HomeMy WebLinkAbout20001556 TRANSNATION TITLE INSURANCE COMPANY
1113 Tenth Avenue
Greeley, CO 80631
Clerk of the Board
P .O . Box 758
Greeley, CO 80632
Order No. 8048723
May 06 , 2000
RE : Vacant Land
In. connection with the above matter, we are enclosing herewith the
following :
Owners Policy
We are pleased to have the opportunity to be of service .
ivo
2000-1556
ISSUED BY TRANSNATION TITLE INSURANCE COMPANY OWNER'S POLICY I OF TITLE INSURANCE
Transnation
A LANI)AMFAICA CVMPANI'
SUBJECT TO THE EXCLUSIONS FROM COVERAGE,THE EXCEPTIONS FROM COVERAGE CONTAINED IN SCHEDUL I' B AND
'THE CONDITIONS AND STIPULATIONS,TRANSNATION TITLE INSURANCE COMPANY,an Arizona corporation,herein called the
Company, insures, as of Date of Policy shown in Schedule A, against loss or damage, not exceeding the Amount of Insurance stated in
Schedule A,sustained or incurred by the insured by reason of:
I. Tide to the estate or interest described in Schedule A being vested other than as stated therein;
2. Any defect in or lien or encumbrance on the title; t
3. Unnarketability of the title;
4. tact of a right of access to and from the land.
The Company will also pay the costs,attorneys' fees and expenses incurred in defense of the title, as insured, but only to the SKI ant provided
in the Conditions and Stipulations.
IN WITNESS WHEREOF,TRANSNATION TITLE INSURANCE COMPANY has caused its corporate name and seal lo 1st ;hereof
affixed by its duly authorized officers,the Policy to become valid when countersigned by an authorized officer or agcnt of he Company
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TRANSNATION TITLE INSURANCE COMPANY
VSbE INSpR4yrF
Attest: z-./ adSw5�C s SOT lb.wst < By: CuAt
♦ r U
Secretary ARIZONA I'residL
EXCLUSIONS FROM COVERAGE
The following matters are expressly excluded from the coverage of this policy and the Company will not pay loss or damage, .osi,, .ttl Ollie s
fees or expenses which arise by reason of:
I. (a)Any law,ordinance of governmental regulation(including but not limited to building and zoning laws,ordinances,or regulatic n l r: trietic.
rege ating,prohibiting of relating to(i)the occupancy.use,or enjoyment of the land: (ii)the character,dimensions or location Of o,ny ,ntpro(
meat now or hereafter erected on the land; (iii) a separation in ownership or a change in the dimensions or area of the land or any parcel cl
which the land is or was a part;or(iv)ens i ronmen l al protection,01 the affect of any violation of these laws,ordinances o-Bove amen; regal,
[ions, except to the extent that a notice of the enforcement thereof or a notice of a defect, lien or encumbrance resulting Ire r a Si•dation r ll
alleged violation affecting the land has been recorded in the public records at Date of Policy.
(b)Any governmental police power not excluded by(.a)above, except to the extent that a notice of the exercise thereof or a not.et of a defer
lien or encumbrance resulting from a violation or alleged violation affecting the land has been recorded in the public records at I tame Polio
2. Rights of eminent domain unless mice of the exercise thereof has been recorded in the public records at Date of Policy, h'.t n rt 'eludine
from coverage any taking which has occurred prior to Dale of Policy which would be binding on the rights of a purchaser lot v vilhet • f
knowledge.
3. Defects, liens, encumbrances, adverse claims or other matters:
(a) created, suffered, assumed or agreed to by the it sured claimant;
(b) not known to the Company, not recorded in the public records at Dare of Policy, but known to the insured claimant arc dot t silos.-'.
in writing to the Company by the insured claimant prior to the date the insured claimant became an insured tinder this police;
(c) resulting in no loss or damage to the insured claimant;
Id) attaching or created subsequent to Date of Polies; or
(e) resulting in loss or damage which would not have been sustained if the insured claimant had paid value for the estate of i •rest trome.l
by this policy.
4. Any claim, which arises out of the transaction vesting in the Insured the estate or interest insured by this policy, by reason 0t the nperatitit. •
of federal bankruptcy, state insolvency, or similar creditors' rights laws, that is based on:
(a) the transaction creating the estate or interest insured by this policy being deemed a fraudulent conveyance or fraudulent bins! of
(b)the transaction creating the estate or interest insured by this policy being deemed a preferential transfer except where the peel e c n ii transo-t
results from the failure:
(i) to timely record the instrument of transfer; or
(tit of such recordation to impart notice to a purchaser for value or a judgment or lien creditor.
miniTiauitiadrioniijeL
NM 1 PA 10
ALTA Owner's Policy(10-17-92) Valid Only If Schedules A and B and Cofer Are Attached
Face Page
Form 1190-56 nRIflINAI
CONDITIONS AND STIPULATIONS
1. DEFINITION OF TERMS. Ic1 Whenever the Company shall have brought an action or interpose.] II
defense as required or permitted by the provisions of this poll,, the
The following terms when used in this policy mean: Company may pursue any litigation to final determination by a a'u'I al
competent jurisdiction and expressly reserves the right, in its st le discretion.
(a) 'insured": the insured named in Schedule A. and, subject to any to appeal from any adverse judgment or order.
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 (d) In all cases where this policy permits or requires thi Comp un it
as distinguished from purchase including, but not limited to, heirs_ prosecute of provide for the defense of any action o- pi 'cecdit e. Mt
disiributces, devisees, survivors, personal representatives, next of kin, of insured shall secure to the Company the right to so per Sec,te ur Itioti.C
i
corporate or fiduciary successors. detense in the action or proceeding, and all appeals there n, a id perm) Inc
lb) "insured clamant an insured claiming law's or damage Company to use, at its option, the name of the insured lire this put p sec:
Wheneser requested by the Company, the insured. ai the ((minim
(c) knowledge` or "known": actual knowledge not constructive expense, shall give the Company all rcasonib e aid 11 in ens ac Ian t.
knowledge or notice which may he imputed to an insured by reason of the proceeding, securing evidence, obtaining witnesses, p..tseuulinf t.
public records as defined in this policy or any other records which impart defending the action or proceeding, or effecting settlemet t, and liii in it,
constructive notice of matters affecting the land other lawful act which in the opinion of the Co npanc int s bt necesnar cot
(d) "land": the land described or referred to in Schedule A. and desirable to establish the title to the estate or interest a insured. It I a
improvements affixed thereto which by law constitute real property, The Company is prejudiced by the failure of the insured to to ni-li the n oir r are
term "land'' does not include any property beyond the lines of the area cooperation. the Company's obligations to the insured It Icr the as ,
described or referred to in Schedule A. nor any right , title, interest, estate shall terminate, including any liability or obligation to del and, prows a.'.c
or easement in abutting streets, roads, avenues. alleys, lanes, ways of continue any litigation, with regard to the motivr or r-,atl its I,quirn) sec l
waterways, hut nothing herein shall modify or limit the extent to which a cooperation_
right of access to and from the land is insured by this polies- 5. PROOF OF LOSS OR DAMAGE.
(c) "mortgage'`. mortgage, decd of trust trust deed, or other security In addition to and after the notices required under fern in s alit cot
instrument. Conditions and Stipulations have beets provided the C'.nnpan.. a moo i
(f) "puhbc records'- records established under state statutes at Date of loss or damage signed and sworn hi by the tossed laniard ".0.111 at
Policy Ibr the purpose of imparting constructive notice of mutters relating furnished to the Company my within 40 days alter the sou -d claimant s ill
to real properly to purchasers for value and without knowledge With ascertain the facts going rise to the loss or damage I hi pool ul ,.
da si
respect to Section in IIa1 (iv) of Ihc Exclusions I-runt Coverage, "public m age shall deserihe the defect in, or lien or enntmbrm - m Ihc c
records shall also include environmental protection liens filed in the other matter insured against by this policy which aiusb air the n ea r nl
records of the clerk of the United States district court for the district in 1°'° or damage and :distil state, to the extent peso hie she h ern of
which the land is located calculating the amount ul the loss or dam age. 11 the (Innaal y is prop..l t.'r
by the failure of the insured claimant to proyidie the c.lu ac I proof
Ig1 unrnarl.etrbility of the title an alleged or apparent insider :Offering Or damage, (he ( imp inp's obligations to the insured unsay `r polo y s t ill
the title to Mc land, not excluded or excepted from coverage which would terminate, including any liability or obligation to deli al. prose,.tie
entitle a purchaser of the estate or interest described in Schedule A to be continue any litigation. with regard to the matter of rail:is It quint l ern 1
released from the obligation to purchase by virtue of a contractual proof of loss or damage.
condition requiring the delivery of marketable title.
le addition_ the insured claimant may reasonably he r (In r ell it ..'paid
2. CONTINUATION OF INSURANCE AFTER CONVEYANCE to examination under oath by any authorwed torn set ratite i ti,
OF TITLE. such
and shall produce for examination. inspec lior and cop, au .a
etch reasonable times and places as may he designated I y I am rn,
The coverage of this policy shah continue in ttree as of Dale of Policy in reryesent:0re of the Company. all records, hot N,. Iuluets_ s
favor of an insured only' so long as the insured retains an estate or interest coriespnmlcnce and memoranda. whether heating a can '.loge die
in the land, of holds an indebtedness secured by a purchase money Date of Policy. which reasonably pertain to the los- t .d. m..l'e I tai i
mortgage given by a purchaser from the insured. or only so long as the requested by tun authorised representative of he Coill in the I foe
insured shall pace liability by reason of covenants of warranty made by the claimant shall grant its pcnmssion in wrong, I tt .d au t a e
insured in any amender or conveyance of the ,awe or interest This policy repiesentatoe of the Company to examine . inspect t d is i- all n
shall not continue in force in favor of any purchaser from the insured of hooks. ledgers, checks, correspondence and mcmato d n Ihc cunt ,r
either(i)an estate or interest in the land, or tail an indebtedness secured by control of a third party, winch reasonably pertain tt 'h It or alai i ire:
a purchase nmmcy mortgage given to the insured All information designated as confidential by the in,m al Miriam i i.''it it
to the Company pursuant to this Section shall not h; d sc. •.e d to -'Our
3. NOTICE OF CLAIM TO BE GIVEN BY INSURED CLAIMANT. unless, in the reasonable judgement of the Con part' r t i i ,swan . . I I
The in surtd shall notify the Company promptly in witting li) in case of administration c f the claim- failure of the cost red oar n in t ',Uhl' t I '
any litigation as set forth in Section 41a) below_pal in case knowledge shall examination1 iant under oil secure prtidi i other n real al so teye t In iii iii
g b pr gwnt pcnmsmnt to tisp reasonably shall
terminate
ite its .,n Inn th.
come to an insured hereunder o• tiny [hind of title or niftiest which is par ues as required an this par ilea ph shall Icl nn note u y i ihilin I I.
adverse to the talc to the estate or interest as insured, and which night Company under this policy as to that claim
cause loss or damage for which the Company may he liable by virtue of
this policy, or it i) if idle to the estate or interest, as insured, is rejected as 6. OPTIONS TO PAY OR OTHERWISE SETTLE CLAIMS;
unmarketable, If prompt notice shall not he given ut the Company, then as TERMINATION OF LIABILITY,
to the insured .ill liability of the Company shall terminate with regard to
the matter of matters for whin prompt notice is required, provided_ I i ease of a claim under tins policy, the Cam pre all hi nit
however, that failure to notify the Company shall 01 no case prejudice the following options:
rights of any' insured under this policy unless the Company shall be (Ufa Pay or feeder Payment of the Antrum tl Ii s ream e
prejudiced by the failure and then only to the extent of the prejudice lo pas or tender payment of the ,unour o III, tram 'mce
this policy together with any costs, attorneys fees and c own., mew t:o hi
4. DEFENSE AND PROSECUTION OF ACTIONS; DUTY OF the insured claimant_ which were authorized by Ow ' oinp,u s. al i., th,
INSURED CLAIMANT TO COOPERATE. time of payment or tender of payment and which the I -nip tin is bleu
led to pay.
(a) Upon written request by the insured and subject to the options Upon the exercise by the Company of this o met it hahild, out.
eomaimad in Section Is of these Conditions and Stipulations, the Company, ohhgaii ins to the insured under this policy odic it in to tit tare Om
at its own cost and without ou:easonable delay, shall provide for the payment required. shall terminate, including any flak lit• o thlig,ti.•i it
defense of an insured in litigation in which any third party asserts a claim defend, prosecute, or continue any litigation and iii p !toy 'I ,dl h.
adverse to the title or interest as insured, but only as to those stated causes surendered to the Company for cancellation.
of action alleging a defect, hen or encumbrance or other matter insured (li) To Pay or Otherwise Settle With Parties Oilia tl.ot he In '
against by this policy The Company shall have the right to select counsel With the Insured Claimant.
of its choice (subject to the right of the insured to object for reasonable (i) to pay or otherwise settle with other parties fist ii in ff. conk
cause) to represent the insured as to those stated causes of action and shall of an insured claimant any claim insured :gains_ undo ih s maim, a cape'
not he liable for and will not pay the fees of any other counsel. The with any costs, attorneys fees and expense• incunec t the lint
Company will not pay any fees, costs or expenses incurred by the insured claimant which were authorized by the Company up I t P.-t. of p.,meni
in the defense of those causes of action which allege matters not insured and which the Company is obligated to pay of
against by this policy. (ii) to pay or otherwise settle with the i muted t la cot t 'I the as. or
damage provided for under this policy, together with ,m- c: as nuts nr.s
(h) The Company shall have the right, at its own cost, to institute and fee: and expenses incurred by the insured claimant vs inch a-ic aut't t g-.si
c.
prosecute any action or proceeding or to do any other act which in its by Ihc Company up to the time of payment ,cod w FOCI ii. C out n,
opinion may he necessary or desirable to establish the title to the estate or obligated to pay.
interest, as insured, or to prevent or reduce loss or damage to the insured. FIpor. the exercise by the Company of either of Ihc t'p tot- pros 'It,l I.
The Company may take any appropriate action cinder the terms of this in paragraphs (h)(i) or lilt, the Company's oblitatiom to thi nsure_I at do
policy, whether or not it shall he liable hereunder and shall not thereby this policy for the claimed loss or damage. mho ih in lie pt..mmr
concede liability or waive any provision of this policy_ If the Company required to he made.shall terminate, including any liah h'y o- ohlig it at
shall exercise its rights under this paragraph, it shall do so diligently defend, prosecute or continue any litigation.
Conditions and Stipulations Continued Inside (over
B 1790-56
-"---, _,- eg1 - 2n i inn
TRANSNATION TITLE INSURANCE COMPANY
POLICY OF TITLE INSURANCE
SCHEDULE A
Amount of Insurance : $ 10 , 897 . 50 Policy No. : 8048723
Date of Policy: February 1 , 2000 at 7 : 00 A.M.
1 . Name of Insured:
County of Weld, a body politic and corporate of the State of
Colorado
2 . The estate or interest in the land described herein and which is
covered by this policy is : FEE SIMPLE
3 . The estate or interest referred to herein is at Date of Policy vested
in :
County of Weld, a body politic and corporate of the State of
Colorado
4 . The land referred to in this Policy is described as follows :
Lot A of Recorded Exemption No . 1309-28-1-RE2375 , recorded February
18 , 1999 as Reception No. 2673927 , being a part of the SE1/4NE1/4
and the NE1/4SE1/4 of Section 28 , Township 2 North, Range 66 Wes:
of the 6th P .M. , County of Weld, State of Colorado .
TRANSNATION TITLE INSURANCE COMPANY
Policy No. : 8048723
SCHEDULE B
This Policy does not insure against loss or damage by reason of the
following:
1 . Rights or claims of parties in possession not shown by the public
records .
2 . Easements , or claims of easements, not shown by the public records .
3 . Discrepancies, conflicts in boundary lines, shortage in area,
encroachments, and any facts which a correct survey and inspection
of the premises would disclose and which are not shown by the
public records .
4 . Any lien, or right to a lien, for services, labor or material
heretofore or hereafter furnished, imposed by law and not shown by
the public records .
5 . Taxes due and payable; and any tax, special assessments, charge or
lien imposed for water or sewer service, or for any other special
taxing district .
6 . Reservation of right of way for any ditches or canals constructed
by authority of the United States, in U. S . Patent recorded February
14 , 1894 in Book 34 at Page 378 .
All oil , gas and other minerals, as reserved by J. L. Farrell and
Ann L. Farrell in Warranty Deed to Ernest Glover, recorded October
13 , 1956 in Book 1461 at Page 575 , and any interests therein or
rights thereunder .
8 . The Fulton Irrigation Ditch, and the right of way therefor, insofar
as the same may affect the subject property.
9 . All existing roads, highways, ditches, utilities, canals, pipe
lines, power, telephone or water lines, and rights of way and
easements theretof .
10 . Oil and gas lease between Public Service Company of Colorado and
Macey & Mershon Oil Inc . dated April 1 , 1977 , recorded April 14 ,
1977 in Book 794 as Reception No. 1716381 , and any interests
therein or rights thereunder .
Note : Extension of the above lease as claimed by Affidavit of
Production, pursuant to CRS 38-42-106 , by Amoco
Production Co . , recorded January 17 , 1978 in Book 820 as
Reception No . 1741684 .
Page 2
TRANSNATION TITLE INSURANCE COMPANY
Policy No. 8048723
SCHEDULE B - Continued
11 . All oil , gas and other minerals, as conveyed to Daisy May Glover by
Mineral Quit Claim Deed recorded October 21 , 1992 in Book 1355 as
Reception No. 2307655, and any interests therein or rights
thereunder.
NOTE :
The following notices pursuant to CRS 9-1 . 5-103 concerning
underground facilities have been filed with the Clerk and Recorder.
These statements are general and do not necessarily give notice of
underground facilities within the property.
(a) Mountain Bell Telephone Company, recorded October 1 , 98] in
Book 949 as Reception No . 1870705 .
(b) Colorado Interstate Gas Company, recorded August 31 , :984 ir
Book 1041 as Reception No . 1979784 .
(c) Associated Natural Gas, Inc . , recorded April 10 , 1989 in Book
1229 as Reception No. 2175917 .
(d) Public Service Company of Colorado, recorded NovembeI 9, 19£ "_
in Book 952 as Reception No . 1874084 .
(e) Western Slope Gas Company, recorded March 9 , 1983 in Book 990
as Reception No . 1919757 .
(f) Panhandle Eastern Pipe Line Company, recorded June 26 , 1986 __i
Book 1117 as Reception No. 2058722 .
Page 3
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37440
CONDITIONS AND STIPULATIONS
(Continued)
7. DETERMINATION, EXTENT OF LIABILITY AND COINSURANCE. (h) When liability and the extent of loss or damage has been detinnely
This policy is a contract of indemnity against actual monetary loss or fixed in accordance with These Conditions and Stipulations, the loss or
damage sustained or incurred by the insured claimant who has suffered loss damage shall be payable within 30 days therea:'ter.
or damage by reason of matters insured against by this policy and only to 13. SUBROGATION UPON PAYMENT OR SETTLEMENT.
the extent herein described.
(a) The liability of the Company under this policy shall not exceed the (a) The Company's Right of Subrogation.
least of: Whenever the Company shall have settled r.nd paul a claim under this
policy, all right of subrogation shall vest in the Company unaffected by
(i) the Amount of Insurance stated in Schedule A; or. any act of the insured claimant
Iii) the difference between the value of the insured estate or interest as The Company shall be subrogatd to and be en0l''en to .ill HON and
insured and the value if the insured estate or interest subject to the defect, remedies which the insured claimant would have bud .IgeunsI •.my pvroc i t
lien or encumbrance insured against by this policy- ro in respect to the claim had this
property erty Y P policy in t N -n unu_C. If
(h) In the event the Amount of Insurance stated in Schedule A at the requested by the Company, the insured claimant shall it aster iii the
Date of Policy is less than 80 percent of the value of the insured estate or Company all rights and remedies against any person er property nu rser,
interest or the full consideration paid for the land, whichever is less, or if in order to perfect this right of subrogation- The In•utcd J;tinlant -.hat
subsequent to the Date of Policy an improvement is erected on the land permit the Company to sue, compromise or settle n (hi name of (he
which increases the value of the insured estate or interest by at least 20 insured claimant and to use the name of the ins .ter c Litwin(
percent over the Amount of Insurance stated in Schedule A, then this transaction or litigation involving these rights or reniedit
Policy is subject to the following. If a payment on account of a claim does not fully et the Ins• ti the
(i) where no subsequent improvement has been made. as to any partial insured claimant, the Company shall he subtogated it Case ng.-r.. and
loss- the Company shall only pay the loss pro rata in the proportion that remedies in the proportion which the Company's f:ryt tent bear: lit th_
the amoun'I of insurance at Date of Policy tears to the total value of the whole amount of the loss.
insured estate or interest at Date of Policy: or
If loss should result front any act of the insured ci-unmt, ;s stated
(ii) where a subsequent improvement has been made, as to any partial above, that act shall not void this policy. but the Cr puts in Ihet
loss, the Company shall only pay the loss pro rata in the proportion that shall be required to pay only that part of any losses roRu ed itgainnt In MN
120 percent of the Amount of Insurance stated in Schedule A bears to the policy which shall exceed the amount, if any, lost to thi Consp.un hs-
sum of the Amount of Insurance stated in Schedule A and the amount reason of the impairment by the insured claimant of the (!impair, - tight
expended for the improvement. of subrogation.
The provisions of this paragraph shall not apply to costs, attorneys' fees (h) The Company's Rights Against Non-insured I)hligui,
and expenses for which the Company is liable under this policy. and shall The Company's right of subrogation against non-rrnr•d obligor, shall
only apply to that portion of any loss which exceeds. in the aggregate, 10 exist and shall include, without limitation. t1e right, of the insured ti
percent of the Amount of Insurance stated in Schedule A. indemnities, guaranties, other policies t f in.rrancr or bond..
(c) The Company will pay only those costs, attorney's' fees and expenses notwithstanding any. terms or conditions contained in these inset t.ntent',
incurred in accordance with Section 4 of these Conditions and Stipulations- which provide for subrogation rights by reason of this pudic
8. APPORTIONMENT. 14. ARBITRATION
If the land described in Schedule A consists of two or more parcels tittles prohibited h applicable law. either nc Coin
which are not used as a single site,and a loss is established affecting one or y pP pl ny .n' the 'nwicd
parcels but not al more of the b the loss shall be computed and settled on a may: demand arbitration pursuant to the Title nsurani c Aiftnration Rules
pro rata basis as if the amount of insurance under this policy was divided of the American Arbitration Association. Arbitrable n aeon may include
but are not limited to, any controversy or claim between the I lnn>an, :me'.
pro rata as to the value on Date of Policy of each separate parcel to the - 1
whole, exclusive of any improvements made subsequent to Date of Policy, the insured arising cti of or relating to this poke,, any service f the
Company in connection with its issuance or the lip act of a punt:.
unless a liability or value has otherwise been agreed upon as to each parcel - I
by the Company and the insured at the time of the issuance of this policy I provision or other 000 nn All arbitrable in itten theA hi n Amount nl
and shown by an express statement or by an endorsement attached to this Insurance is $1.000,000the insured.
or less shall be arbitrate( at option n of either the
policy. Company or the insured- All arbitrable matters whin' the Amount of
Insurance is in excess of$1,000,000 shall be arbitrated isoa when agrtcd ti
st
9. LIMITATION OF LIABILITY, by both the Company and the insured. Arbitration paure to this polies
(a) If the Company establishes the title, or removes the alleged defect. and under the Rules in effect on the date the demuui for "[Nitta non I-
(a)or encumbrance, or cures the lack of a right of access to or from the made or,at the option of the insured, the Rule.; in died at Date of Pi ties
land, or cures the claim of unmarketability of title, all as insured, in a shall be binding upon the parties'- The award may inulu k nornevs leer
reasonably diligent manner by any method, including litigation and the only if the laws of the slate in which the land s loettad pc out a court to
completion n( any appeals therefrom, it shall have fully award attorneys' fees to a prevailing party. ludgn a it upon the .twaol
p :ppe' performed its rendered by the Arbi era tor(sl may he entered in any court h mar
obligations with respect to that matter and shall not be liable for any loss jurisdiction thereof
or damage caused thereby.
(b) In the event of any litigation, including litigation by the Company The law of the silos of the land shall apply to an trbn ra eon water the
or with the Company's consent, the Company shall have no liability for Title Insurance Arbitration Rules.
lossor damage until there has been a final determination by a court of A copy of the Rules may he obtained from the Company upon reti aril
competent Jurisdiction, and disposition of all appeals therefrom, adverse to 15. LIABILITY LIMITED TO THIS POLICY; POLICY ENTIRE
the title as insured.
(r.)The Company shall not be liable for loss or damage to any insured CONTRACT.
for liability voluntarily assumed by the insured in settling any claim or suit (a) This policy together with all endorsements, it am. attached hereto
without the prior written consent of the Company, by the Company is the entire policy and contract between the insured end
10. REDUCTION OF INSURANCE; REDUCTION OR TERMINATION the Company. In interpreting any provision of [his polies. this policy shall
be construed as a whole.
OF LIABILITY. (b) Any claim of loss or damage, whether or not based on neglgenee.
All payments under this policy, except payments made for costs, and which arises out of the status of the title to 'he est:tic or 'merest
attorneys' fees and expenses, shall reduce the amount of the insurance pro covered hereby or by any action asserting such claim. shall br restudied to
tanto. this policy.
11. LIABILITY NONCUMULATIVE (c) No amendment of or endorsement te this policy cam he made
except by a writing endorsed hereon or attached hereb.' signed by colter the
It is expressly understood that the amount of insurance under this President, a Vice President, the Secretary, an Asddr,nt Seerei:r., .tt
policy shall be reduced by any amount the Company may pay under any validating officer or authorized signatory of the Compare
policy insuring a mortgage to which exception is taken in Schedule B or to 16. SEVERABILITY.
which the insured has agreed, assumed, or taken subject, or which is -
heleafter executed by an insured and which is a charge or lien on the In the event any provision of the policy is held of o'd DI e thttcable
under applicable law, the policy shall he deemed not '.o n elude that pits
estate or interest described or referred to in Schedule A, and the amount Sinn and all other provisions shall remain in full force no I ettect.
so paid shall be deemed a payment under this policy to the insured owner. 17. NOTICES, WHERE SENT.
12. PAYMENT OF LOSS.
(at No payment shall be made Without producing thispolicy for endorsement 511 notices required robe given the Company and any 9mtori tiu tieing requited
of the payment unless the policy has been loss or destroyed,in which case proof to be furnished the Company mpany shall include the number of ibis police;tm1hull br
of loss of dorm action shall he furnished to the satisfaction of the Company. addressed to TRANSNATION TITLE INSURANCE ('OMPVNS 17110 Marlon
NM 1 PA 10 Street,Philaddphia,PA 19103-3990.
ALTA Owner's Policy(10-17-92)
Cover Page Valid Only If Face Page, Schedules A and It An' Attached
Form 1190-58 ORIGINAL
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