|
SCHEDULE OF EXCLUSIONS I
<br /> 1. Except to the extent that specific assurances are provided in Schedule A of this Guarantee,the Company assumes no liability for loss or damage by reason of the
<br /> following:
<br /> (a) Defects,liens,encumbrances,adverse claims or other matters against the title,whether or not shown by the public records.
<br /> (b) (1) Taxes or assessments of any taxing authority that levies taxes or assessments on real property; or, (2) Proceedings by a public agency which may result in
<br /> taxes or assessments,or notices of such proceedings,whether or not the matters excluded under(1)or(2)are shown by the records of the taxing authority or by the
<br /> public records.
<br /> (c) (1) Unpatented mining claims; (2) reservations or exceptions in patents or in Acts authorizing the issuance thereof; (3) water rights, claims or title to water,
<br /> whether or not the matters excluded under(1), (2)or(3)are shown by the public records.
<br /> 2. Notwithstanding any specific assurances which are provided in Schedule A of this Guarantee, the Company assumes no liability for loss or damage by reason of
<br /> the following:
<br /> (a) Defects, liens, encumbrances, adverse claims or other matters affecting the title to any property beyond the lines of the land expressly described in the description
<br /> set forth in Schedule(A), (C)or in Part 2 of this Guarantee,or title to streets,roads,avenues,lanes,ways or waterways to which such land abuts,or the right to main-
<br /> tain therein vaults,tunnels,ramps or any structure or improvements;or any rights or easements therein,unless such property,rights or easements are expressly and
<br /> specifically set forth in said description.
<br /> (b) Defects, liens, encumbrances, adverse claims or other matters, whether or not shown by the public records; (1) which are created, suffered, assumed or agreed
<br /> to by one or more of the Assureds; (2)which result in no loss to the Assured;or(3)which do not result in the invalidity or potential invalidity of any judicial or non-
<br /> judicial proceeding which is within the scope and purpose of the assurances provided.
<br /> (c) The identity of any party shown or referred to in Schedule A.
<br /> (d) The validity,legal effect or priority of any matter shown or referred to in this Guarantee.
<br /> CONDITIONSGUARANTEE I I
<br /> 1. Definition of Terms. 4. Company's Option to Defend or Prosecute may be necessary or desirable to establish the title to
<br /> The following terms when used in the Guarantee Actions;Duty of Assured Claimant to the estate or interest as stated herein,or to establish the
<br /> mean: Cooperate. lien rights of the Assured.If the Company is prejudiced
<br /> (a)the "Assured": the party or parties named as Even though the Company has no duty to defend by the failure of the Assured to furnish the required
<br /> the Assured in this Guarantee, or on a supplemental or prosecute as set forth in Paragraph 3 above: cooperation,the Company's obligations to the Assured
<br /> under the Guarantee shall terminate.
<br /> writing executed by the Company. (a) The Company shall have the right, at its sole
<br /> (b) "land": the land described or referred to in option and cost,to institute and prosecute any action or 5. Proof of Loss or Damage.
<br /> Schedule(A)(C)or in Part 2,and improvements affixed proceeding,interpose a defense,as limited in(b),or to In addition to and after the notices required under
<br /> thereto which by law constitute real property.The term do any other act which in its opinion may be necessary Section 2 of these Conditions and Stipulations have
<br /> "land"does not include any property beyond the lines of or desirable to establish the title to the estate or interest been provided to the Company,a proof of loss or dam-
<br /> the area described or referred to in Schedule (A)(C) or as stated herein, or to establish the lien rights of the age signed and sworn to by the Assured shall be Tur-
<br /> in Part 2,nor any right,title,interest,estate or easement Assured,or to prevent or reduce loss or damage to the nished to the Company within ninety(90)days after the
<br /> in abutting streets, roads, avenues, alleys, lanes,ways Assured.The Company may take any appropriate action Assured shall ascertain the facts giving rise to the loss
<br /> or waterways. under the terms of this Guarantee,whether or not it shall or damage.The proof of loss or damage shall describe
<br /> (c) "mortgage": mortgage, deed of trust, trust be liable hereunder, and shall not thereby concede Iia- the matters covered by this Guarantee which constitute
<br /> deed,or other security instrument. bility, or waive any provision of this Guarantee. If the the basis of loss or damage and shall state,to the extent
<br /> d "public records": records established under Company shall exercise its rights under this paragraph, possible,the basis of calculating the amount of the Boss
<br /> state statutes at Date of Guarantee for the purpose of or damage. If the Company is prejudiced by the failure
<br /> imparting constructive notice of matters relating to real (b)If the Company elects to exercise its options as of the Assured to provide the required proof of loss or
<br /> property to purchasers for value and without knowledge. stated in Paragraph 4(a) the Company shall have the damage, the Company's obligation to such Assured
<br /> (e) "date":the effective date. right to select counsel of its choice(subject to the right under the Guarantee shall terminate. In addition, the
<br /> of such Assured to object for reasonable cause)to rep- Assured may reasonably be required to submit to exam-
<br /> 2. Notice of Claim to be Given by Assured resent the Assured and shall not be liable for and will not ination under oath by any authorized representative of
<br /> Claimant. pay the fees of any other counsel,nor will the Company the Company and shall produce for examination,
<br /> pay any fees,costs or expenses incurred by an Assured inspection and copying, at such reasonable times and
<br /> An Assured shall notify the Company promptly in in the defense of those causes of action which allege places as may be designated by any authorized repre-
<br /> writing in case knowledge shall come to an Assured matters not covered by this Guarantee. sentative of the Company, all records, books, ledgers,
<br /> hereunder of any claim of title or interest which is
<br /> adverse to the title to the estate or interest, as stated (c)Whenever the Company shalt have brought an checks, correspondence and memoranda, whether
<br /> action or interposed a defense as permitted by the pro- bearing a date before or after Date of Guarantee,which
<br /> herein, and which might cause loss or damage for visions of this Guarantee,the Company may pursue any reasonably pertain to the loss or damage. Further, if
<br /> which the Company may be liable by virtue of this litigation to final determination by a court of competent requested by any authorized representative of the
<br /> Guarantee. If prompt notice shall not be given to the jurisdiction and expressly reserves the right, in its sole Company, the Assured shall grant its permission, in
<br /> Company,then all liability of the Company shall termi- discretion,to appeal from an adverse judgment or order. writing, for any authorized representative of the Com-
<br /> nate with regard to the matter or matters for which
<br /> prompt notice is required;provided,however,that failure (d) In all cases where this Guarantee permits the pang to examine, inspect and copy all records, books,
<br /> d, case prejudice the Company to prosecute or provide for the defense of any ledgers, checks, correspondence and memoranda in
<br /> to notify the Company �hall in
<br /> rights of any Assured under this Guarantee unless the action or proceeding, an Assured shall secure to the the custody or control of a third party,which reasonably
<br /> Company shall be prejudiced by the failure and then Company the right to so prosecute or provide for the pertain to the loss or damage. All information desig-
<br /> only to the extent of the prejudice. defense of any action or proceeding, and all appeals nated as confidential by the Assured provided to the
<br /> therein, and permit the Company to use, at its option, Company pursuant to this Section shall not be disclosed
<br /> 3. No Duty to Defend or Prosecute. the name of such Assured for this purpose. Whenever to others unless, in the reasonable judgment of the
<br /> requested by the Company, an Assured, at the Company, it is necessary in the administration of the
<br /> The Company shall have no duty to defend or prosecute Company's expense,shall give the Company all reason- claim. Failure of the Assured to submit for examination
<br /> any action or proceeding to which the Assured is a able aid in any action or proceeding,securing evidence, under oath, produce other reasonably requested
<br /> party, notwithstanding the nature of any allegation in obtaining witnesses, prosecuting or defending the information or grant permission to secure reasonably
<br /> such action or proceeding. AML
<br /> etion or lawful act which in the opinion of the Companyecessary information from third parties as required
<br /> i is
<br />
|