87035140 ~ Burnham Road ~ Hall Boulevard I
A I 870354 o
SPECIAL WARRANTY DEED — STATUTORY FORM
ti* (Individual or Corporation)
VAN S. CAMP
Grantor, conveys and specially warrants to TIGARD WATER DISTRICT, a political subdivision
of the State of Oregon.
Grantee, the following described real property free of encumbrances created or suffered by the grantor except as
specifically set forth herein:
as fully described in EXHIBIT "A" attached hereto and made a part hereof
This deed is given in fulfillment of that certain contract dated July 1, 1984.
recorded July 3 , 1984 fee # 84-25846 , Washington County, Oregon
Encumbrances: Subject to Powers of Unified Sewerage Agency. Rights of public in and to that
portion of premises herein described lying within the limits of SW Burnham Street (County Rd.
# 997) .
The true consideration for this conveyance is $ . 525 5000.00 , , , , ,. (Here comply with the requirements
of ORS 93.030*).
Dated this 2nd day of . . . J.uly , 1984.; if a corporate grantor, it has caused
its name be signed by order of its board of directors.
4144.-t
. . . . . . 0/. .. .
Van S. Camp
STATE OF OREGON, ) STATE OF OREGON, County of ) ss.
County of Washington ) ss. , 19 .
7--.. 1 July 2, , 19 84 ) Personally appeared and
Personally appeared the above named who, being duly sworn,
Van S. Camp each for himself and not one for the other, did say that the former is
the president and that the latter is the
and acknowledged the foregoing in secretary of the
strument to be his voluntary act and deed , a corporation, and that said instrument
was signed in behalf of said corporation by authority of its board of
directors; and each of them acknowledged said instrument to be its
Before me:
' voluntary act and deed.
-'',7--,,,j•
Before me:
Notarc'ublic for'Oregon
My commission expires: -9/23/86 Notary Public for Oregon
My commission expires:
* If the considerationyt"toinsists of or includes other property or value, add the following:
"The actual consideration consists of or includes other property or value given or promised which is part of the whole consideration
(indicate which)".
THIS.INSTRUMENT DOES NOT GUARANTEE THAT'ANY
PARTICULAR.USE•MAY-BE MADE•OFTig PROPERTY
DESCRIBED IN IT GrAtMotittK WITH
THE APPROPRIATE CITY OR COUNTY PLANNING
DEPARTMENT*TO VERIFY APPROVED USES.
Grantee's Name and Address
After recording return to:
I MD..WATE .DIST D.WATER•DISTRICT• •
8841's:W'COMMERCIAL
TIGARD,OREGON'97223
Name, Address, Zip
Until a change is requested all tax statements shall be sent to the
following address.
Name, Address, Zip
ORL-304(Rev.5-80) !.3
SPECIAL SPECIAL
WARRANTY WARRANTY
DEED DEED
11a)
SAFECO SAFECO
SAFECO TITLE SAFECO TITLE
INSURANCE COMPANY INSURANCE COMPANY
OF OREGON OF OREGON
SAFECO TITLE SAFECO TITLE
INSURANCE COMPANY INSURANCE COMPANY
OF OREGON OF OREGON •
HOME OFFICE HOME OFFICE
1800 S.W. FIRST AVE. 1800 S.W.FIRST AVE.
PORTLAND,OREGON 97201 PORTLAND,OREGON 97201
•
Order No. W 27815
DESCRIPTION
PARCEL I
•
A tract of land in Section 2, Township 2 South, Range 1 West of the.;
Willamette Meridian, in the City of Tigard, County of Washington
and State of Oregon, described as follows:
Beginning at a point of intersection of the Southwesterly right of
way line of that certain 50 foot strip of right of way conveyed to
the Oregon Electric Railway Company by James R. O'Mara and Mary C.
O'Mara, his wife, by deed dated January 4, 1907 and recorded February
16, 1907, on Page 40 of Book 75, Deed Records of Washington County,
Oregon, and the west line of the William Graham Donation Land Claim
No. 39, said point being monumented by an iron pipe; thence South
43' 00' West along the west Donation Land Claim line a distance of
354.3 feet, more or less, to the center line of County Road No.
977; thence South 45' 04' East along the center line of said County
Road; a distance of 95.75 feet; thence South 0° 21' West a distance
of 132.33 feet to a point, said point being monumented by an iron
pipe; thence South 89° 41' East, a distance of 368.55 feet to a
point in the center line of County Road No. 227; thence North 0°
19' East along the center line of County Road No. 227 to a point on
the Southwesterly right of way line of the Oregon Electric Railway
Company, as aforesaid; thence North 41° 58' West along the South-
westerly right of way line as aforesaid, a distance of 291.63 feet
to the point of beginning.
PARCEL II
A tract of land in Section 2, Township 2 South, Range 1 West of the
Willamette Meridian, in the City of Tigard, County of Washington
and State of Oregon, described as follows:
Beginning at the point of intersection of the Southwesterly right
of way line of that certain 50 foot strip of right of way conveyed
to Oregon Electric Railway Company by James R. O'Mara and Mary C.
O'Mara, his wife, by deed dated January 4, 1907, and recorded
February 16, 1907, on Page 40 of Book 75, Deed Records of Washington
County, Oregon, and the west line of the William Graham Donation
Land Claim No. 39, said point being monumented by an iron pipe;
thence South 43' 00' West along said west donation land claim line
a distance of 354.3 feet, more or less, to the center of County
Road No. 997; thence North 45' 04' 30" West along the center line
of County Road No. 997, a distance of 241.44 feet; thence North 43°
00' East a distance of 367.75 feet, more or less, to a point on the
SAFECO
EXHIBIT A
•
a • - . .,,.. -w... ... p.e.... w.w ........ .......�-....v.,.i.«4r..yaL+...ate.„.r. .>1..... r •.lr,r fe',yJe 1'NN"TnerRs r"Y .a-..«...-
•
Order No. W 27815
DESCRIPTION - Continued •
Southwesterly right of way line of that certV.n 50 foot strip of
right of way conveyed to the Oregon Electric _Railway Company by
Rudolph Hunziker and S. C. Hunziker, his wife, by deed dated December
13, 1906 and recorded February 16, 1907, on Page 39 of Book 75,
Deed Records of Washington County, Oregon, thence South 41° 58'
East a distance of 242.25 feet, more or less, along said South-
westerly right of way line to the point of beginning.
PARCEL III
A tract of land in Section 2, Township 2 South, Range 1 West of the
Willamette Meridian, in the City ;of Tigard, County of Washington
and State of Oregon, described as follows:
Beginning at a point in the center of County Road North 45° 46'
West 241.44 feet of the most easterly corner of that certain tract
of land conveyed to Charles Burnham by deed recorded in Book W,
Page 162, Deed Records of Washington County, Oregon, said beginning
point being also the most westerly corner of that certain tract of
land conveyed to W. J. Kerry by deed recorded in Book 146, Page
105, Deed Records; thence North 42° 19' East along the northwesterly
line of said Kerry tract, 367.7 feet to the westerly right of way
of Oregon Electric Railway Company; thence Northwesterly along said
right of way line 60 feet to a point; thence South 42° 19' West
374.23 feet, more or less, to center line of County Road and the
easterly line of said Burnham tract; thence South 45° 46' East 60
feet, more or less, to the place of beginnning.
STATE OF OREGON
County of Washington SS
I, Donald W.Mason, Director of Assessment
and Taxation and Ex-Officio Recorder of Con-
veyances for said county, do hereby certify that
the within instrument of writing was received
and recorded in book of records of said county.
Donald W. Mason, Director of
Assessment and Taxation, Ex-
Officio County Clerk
EXHIBIT A 1981 JUL -9 PH 12: 07
SAFECO
3
1)
_.
SAFECO
POLICY OF TITLE INSURANCE
unto 'Fitts taswaias Com!
Oen S.W. Ikavertoia-H8 i.
Peal*eilmeen 97223
SAFECO TITLE INSURANCE COMPANY
OF OREGON
an Oregon corporation, hereinafter called the Company, for a valuable consideration paid
for this policy of title insurance, the number, date, and amount of which are shown in
Schedule A, does hereby insure the parties named as Insured in Schedule A, the heirs,
devisees, personal representatives of such Insured, or if a corporation, its successors by
dissolution, merger or consolidation, against direct loss or damage not exceeding the
amount stated in Schedule A, together with costs, attorneys' fees and expenses which the
Company may be obligated to pay as provided in the Conditions and Stipulations hereof,
which the Insured shall sustain by reason of:
1. Title to the land described in Schedule A being vested, at the date hereof,otherwise than as herein
stated;or
2. Unmarketability, at the date hereof,of the title to said land of any vestee named herein,unless such
unmarketability exists because of defects, liens, encumbrances,or other matters shown or referred
to in Schedule B;or
3. Any defect in,or lien or encumbrance on,said title existing at the date hereof, not shown or referred
to in Schedule B,or excluded from coverage in the Schedule of Exclusions from Coverage;or
4. Any defect in the execution of any mortgage or deed of trust shown in Schedule B securing an
indebtedness,the owner of which is insured by this policy,but only insofar as such defect affects the
lien or charge of such mortgage or deed of trust upon said land;or
5. Priority,at the date hereof,over any such mortgage or deed of trust,of any lien or encumbrance upon
said land,except as shown in Schedule B such mortgage or deed of trust being shown in the order of
its priority,
all subject, however, to the Schedule of Exclusions from Coverage and the Conditions and
Stipulations hereto annexed which, together with Schedules A and B, are hereby made a
part of this policy.
In Witness Whereof, SAFECO Title Insurance Company of Oregon has caused its
corporate name and seal to be hereunto affixed by its duly authorized officers as of Date of
Policy shown in Schedule A.
ix/09V ceibe4
Secretary aeitzto(President
Authorized Signature
Oregon RATING BUREAU FOR TITLE COMPANIES IN ORE' JN AN ,PV" CC ;E POLICY FORM
ORP-218(Rev.4-80)
SCHEDULE OF EXCLUSIONS FROM COVERAGE
This policy does not insure against loss or damage by reason of the following:
1. Any law, ordinance or governmental regulation (including but not limited to building and zoning ordinances) restricting 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 said land,or prohibiting a separation in ownership or a reduction in the dimensions or area
of any lot or parcel of land.
2. Governmental rights of police power or eminent domain unless notice of the exercise of such rights appears in the public records at
the date hereof.
3. Title to any property beyond the lines of the land expressly described ir.Schedule A or title to streets,roads,avenues,lanes,ways or
waterways on which such land abuts,or the right to maintain therein vaults,tunnels,ramps or any other structure or improvement;or
any rights or easements therein unless this policy specifically provides that such property,rights or easements are insured,except
that if the land abuts upon one or more physically open streets or highways this policy insures the ordinary right of abutting owners for
access to one of such streets or highways, unless otherwise excepted or excluded herein.
4. Defects, liens, encumbrances, adverse claims against the title as insured or other matters (1) created, suffered, assumed or
agreed to by the Insured claiming loss or damage;or (2) known to the Insured Claimant either at the date of this policy or at the date
such Insured Claimant acquired an estate or interest insured by this policy and not shown by the public records, unless disclosure
thereof in writing by the Insured shall have been made to the Company prior to the date of this policy;or (3) resulting in no loss to the
Insured Claimant;or (4) attaching or created subsequent to the date hereof.
5. Loss or damage which would not have been sustained if the Insured were a purchaser or encumbrancer for value without knowledge.
6. Usury or claims of usury.
7. "Consumer credit protection,""truth-in-lending,"or similar law.
CONDITIONS AND STIPULATIONS
1. Definition of Terms 3. Defense and Prosecution of Actions- unless the Company shall be actually The following terms when used in this pre-
Notice of Claim to be Given by the judiced by such failure and then only to the
policy mean: Insured extent of such prejudice.
the described,specifical- (a) The Company, at its own cost and (c) The Company shall have the right at its
ly(a) "land":a landin described,
ule A and im- without undue delay shall provide (1) for own cost to institute and prosecute any
ly o or by s reference,afficethereto which by law the defense of the Insured in all litigation action or proceeding or do any other act
pconstitute real property; consisting of actions or proceedings com- which in its opinion may be necessary or
menced against the Insured, or defenses, desireable to establish the title of the estate
(b) "public records": those records which restraining orders,or injunctions interposed or interest or the- lien of the mortgage as
impart constructive notice of matters relat- against a foreclosure or sale of the mortgage insured; and the Company may take any
ing to said land; and indebtedness covered by this policy or a appropriate action under the terms of this
sale of the estate or interest in said land; policy whether or not it shall be liable
(c) "knowledge": actual knowledge, not or (2) for such action as may be appropriate thereunder and shall not thereby concede
constructive knowledge or notice which may to establish the title of the estate or interest liability or waive any provisions of this
be imputed to the Insured by reason of any or the lien of the mortgage as insured,which policy.
public records; litigation or action in any of such events is
(d) "date": the effective date; founded upon an alleged defect, lien or (d) In all cases where this policy permits or
encumbrance insured against by this policy, requires the Company to prosecute or pro-
(e) "mortgage": mortgage, deed of trust, and may pursue any litigation to final de- vide for the defense of any action or pro-
trust deed,or other security instrument;and termination in the court of last resort. ceeding, the Insured shall secure to it the
right to so prosecute or provide defense in
(f) "insured": the party or parties named as (b) In case any such action or proceeding such action or proceeding, and all appeals
Insured,and if the owner of the indebtedness shall be begun, or defense interposed, or in therein,and permit it to use,at its option,the
secured by a mortgage shown in Schedule B case knowledge shall come to the Insured of name of the Insured for such purpose.
is named as an Insured in Schedule A, the any claim of title or interest which is adverse Whenever requested by the Company the
Insured shall include (1) each successor into the title of the estate or interest or lien of Insured shall give the Company all reason-
interest in ownership of such indebtedness, the mortgage as insured, or which might able aid in any such action or proceeding, in
(2) any such owner who acquires the estate cause loss or damage for which the Com effecting settlement, securing evidence,
or interest referred to in this policy by fore- pany shall or may be liable by virtue of this obtaining witnesses, or prosecuting or de-
closure,trustee's sale,or other legal manner fending such action or proceeding, and the
policy, or if the Insured shall in good faith
in satisfaction of said indebtedness, and (3) contract to sell the indebtedness secured by Company shall reimburse the Insured for
any federal agency or instrumentality which isa mortgage covered by this policy or, if an any expense so incurred.
an insurer or guarantor under an insurance Insured in good faith leases or contracts to
contract or guaranty insuring or guaranteeing sell, lease or mortgage the same, or if the 4. Notice of Loss-Limitation of Action
said indebtedness, or any part thereof, successful bidder at a foreclosure sale
whether named as an Insured herein or not, under a mortgage covered by this policy
subject otherwise to the provisions hereof. refuses to purchase and in any such event In addition to the notices required under
2. Benefits after Acquisition of Title the title to said estate or interest is rejected paragraph 3(b), a statement in writing of
as unmarketable,the Insured shall notify the any loss or damage for which it is claimed the
If an insured owner of the indebtedness Company thereof in writing. If such notice Company is liable under this policy shall be
secured by a mortgage described in Sched- shall not be given to the Company within ten furnished to the Company within sixty days
ule B acquires said estate or interest,or any days of the receipt of process or pleadings or after such loss or damage shall have been
part thereof, by foreclosure, trustee's sale, if the Insured shall not, in writing, promptly determined and no right of action shall
or other legal manner in satisfaction of said notify the Company of any defect, lien or accrue to the Insured under this policy until
indebtedness, or any part thereof, or if a encumbrance insured against which shall thirty days after such statement shall have
federal agency or instrumentality acquires come to the knowledge of the Insured, or if been furnished,and no recovery shall be had
said estate or interest,or any part thereof,as the Insured shall not, in writing, promptly by the Insured under this policy unless ac-
a consequence of an insurance contract or notify the Company of any such rejection by tion shall be commenced thereon within five
guaranty insuring or guaranteeing the in- reason of claimed unmarketability of title, years after expiration of said thirty day
debtedness secured by a mortgage covered then all liability of the Company in regard to period. Failure to furnish such statement of
by this policy,or any part thereof,this policy the subject matter of such action, proceed- loss or damage,or to commence such action
shall continue in force in favor of such In- ing or matter shall cease and terminate; within the time hereinbefore specified, shall
sured, agency or instrumentality, subject to provided,however,that failure to notify shall be a conclusive bar against maintenance by
all of the conditions and stipulations hereof. in no case prejudice the claim of any Insured the Insured of any action under this policy.
(Conditions and Stipulations Continued and Concluded on Last Page of This Policy)
ORP-218(Rev.4-80)
SCHEDULE A
Policy No.: W 27815
Premium: $ 1,377.50
Amount: $ 525,000.00
Date of Policy: July 3, 1984 at 11:07 a.m.
1. Name of Insured:
TIGARD WATER DISTRICT,
a political subdivision of the State of Oregon
2. The estate or interest in the land described in this Schedule
and which is covered by this policy is:
A fee.
3. The estate or interest referred to herein is at'Date of Policy
vested in:
VAN S. CAMP
4. The land referred to in this policy is described as:
See following page.
r1n
SAFECO
Order No. W 27815
DESCRIPTION
PARCEL I
A tract of land in Section 2, Township 2 South, Range 1 West of the
Willamette Meridian, in the City of Tigard, County of Washington
and State of Oregon, described as follows :
Beginning at a point of intersection of the Southwesterly right of
way line of that certain 50 foot strip of right of way conveyed to
the Oregon Electric Railway Company by James R. O'Mara and Mary C.
O'Mara, his wife, by deed dated January 4, 1907 and recorded February
16, 1907, on Page 40 of Book 75, Deed Records of Washington County,
Oregon, and the west line of the William Graham Donation Land Claim
No. 39, said point being monumented by an iron pipe; thence South
43° 00' West along the west Donation Land Claim line a distance of
354.3 feet, more or less, to the center line of County Road No.
977; thence South 45° 04' East along the center line of said County
Road; a distance of 95.75 feet; thence South 0° 21' West a distance
of 132.33 feet to a point, said point being monumented by an iron
pipe; thence South 89° 41' East, a distance of 368.55 feet to a
point in the center line of County Road No. 227; thence North 0°
19' East along the center line of County Road No. 227 to a point on
the Southwesterly right of way line of the Oregon Electric Railway
Company, as aforesaid; thence North 41° 58' West along the South-
westerly right of way line as aforesaid, a distance of 291.63 feet
to the point of beginning.
PARCEL II
A tract of land in Section 2, Township 2 South, Range 1 West of the
Willamette Meridian, in the City of Tigard, County of Washington
and State of Oregon, described as follows:
Beginning at the point of intersection of the Southwesterly right
of way line of that certain 50 foot strip of right of way conveyed
to Oregon Electric Railway Company by James R. O'Mara and Mary C.
O'Mara, his wife, by deed dated January 4, 1907, and recorded
February 16, 1907, on Page 40 of Book 75, Deed Records of Washington
County, Oregon, and the west line of the William Graham Donation
Land Claim No. 39, said point being monumented by an iron pipe;
thence South 43° 00' West along said west donation land claim line
a distance of 354.3 feet, more or less, to the center of County
Road No. 997; thence North 45° 04' 30" West along the center line
of County Road No. 997, a distance of 241.44 feet; thence North 43°
00' East a distance of 367.75 feet, more or less, to a point on the
SAFECO
Order No. W 27815
DESCRIPTION - Continued
Southwesterly right of way line of that certain 50 foot strip of
right of way conveyed to the Oregon Electric Railway Company by
Rudolph Hunziker and S. C. Hunziker, his wife, by deed dated December
13, 1906 and recorded February 16, 1907, on Page 39 of Book 75,
Deed Records of Washington County, Oregon, thence South 41° 58'
East a distance of 242.25 feet, more or less, along said South-
westerly right of way line to the point of beginning.
PARCEL III
A tract of land in Section 2, Township 2 South, Range 1 West of the
Willamette Meridian, in the City of Tigard, County of Washington
and State of Oregon, described as follows:
Beginning at a point in the center of County Road North 45° 46'
West 241.44 feet of the most easterly corner of that certain tract
of land conveyed to Charles Burnham by deed recorded in Book W,
Page 162, Deed Records of Washington County, Oregon, said beginning
point being also the most westerly corner of that certain tract of
land conveyed to W. J. Kerry by deed recorded in Book 146, Page
105, Deed Records; thence North 42° 19' East along the northwesterly
line of said Kerry tract, 367.7 feet to the westerly right of way
of Oregon Electric Railway Company; thence Northwesterly along said
right of way line 60 feet to a point; thence South 42° 19' West
374.23 feet, more or less, to center line of County Road and the
easterly line of said Burnham tract; thence South 45° 46' East 60
feet, more or less, to the place of beginnning.
1B
SAFECO
SCHEDULE B
This policy does not insure against loss or damage, nor against costs, attorneys' fees or expenses, any or all of
which arise by reason of the matters shown or referred to in this Schedule except to the extent that the owner of
any mortgage or deed of trust is expressly insured on page 1 of this policy.
1. Taxes or assessments which are not shown as existing liens by the records of any taxing authority that
levies taxes or assessments on real property or by public records; proceedings by a public agency which may
result in taxes or assessments, or notices of such proceedings, whether or not shown by the records of such
agency or by the public records.
2. Any facts, rights, interests, or claims which are not shown by the public records but which could be
ascertained by an inspection of said land or by making inquiry of persons in possession thereof.
3. Easements, liens or encumbrances, or claims thereof, which are not shown by the public records; un-
patented mining claims; reservations or exceptions in patents or in Acts authorizing the issuance thereof; water
rights,claims or title to water.
4. Discrepancies, conflicts in boundary lines, shortage in area, encroachments or any other facts which a
correct survey would disclose.
P-218.8.Oregon(G S)Rev 7-74
Standard Coverage Policy Form
Order No. W 27815 Page 3
SCHEDULE B - Continued
5. Taxes for the fiscal year 1984-85, a lien in the amount to be
determined, but not yet payable.
6. The premises herein described are within and subject to the
statutory powers including the power of assessment of the Unified
Sewerage Agency of Washington County.
7. The rights of the public in and to that portion of the premises
herein described lying within the limits of SW Burnham Street (County
Road No. 997) .
8. Real Estate Contract, including the terms and provision thereof.
Dated: July 1, 1984
Recorded: July 3, 1984
Recorders Fee No. : 84025846, Records of Washington County
Vendor: VAN S. CAMP
Vendee: TIGARD WATER DISTRICT, a political subdivision of
the State of Oregon
7/4/84
cb
SAFECO
OWNER'S INFLATION PROTECTION INDORSEMENT
Dated:
July 3, 1984
Attached to Policy No. W 2 7 815
Issued By
SAFECO TITLE INSURANCE COMPANY
OF OREGON
The Company,recognizing the current effect of inflation on real property valuation and intending to provide additional
monetary protection to the Insured Owner named in said Policy, hereby modifies said Policy,as follows:
1. Notwithstanding anything contained in said Policy to the contrary, the amount of insurance provided by
said Policy, as stated in Schedule A thereof, is subject to cumulative annual upward adjustments in the
manner and to the extent hereinafter specified.
2. "Adjustment Date" is defined, for the purpose of this Indorsement,to be 12:01 a.m. on the first January 1
which occurs more than six months after the Date of Policy,as shown in Schedule A of the Policy to which
this Indorsement is attached and on each succeeding January 1.
3. An upward adjustment will be made on each of the Adjustment Dates,as defined above,by increasing the
maximum of insurance provided by said Policy (as said amount may have been increased theretofore
under the terms of this Indorsement) by the same percentage, if any, by which the United States De-
partment of Commerce Composite Construction Cost Index (base period 1967) for the month of Septem-
ber immediately preceding exceeds such Index based upon the preceding year or any previous year;
provided, however, that the maximum amount of insurance in force shall never exceed 175% of the
amount of insurance stated in Schedule A of said Policy, less the amount of any claim paid under said
Policy which, under the terms of the Conditions and Stipulations, reduces the amount of insurance in
force. There shall be no annual adjustment in the amount of insurance for years in which there is no
increase in said Construction Cost Index.
4. In the settlement of any claim against the Company under said Policy, the amount of insurance in force
shall be deemed to be the amount which is in force as of the date on which the insured claimant first learned
of the assertion or possible assertion of such claim,or as of the date of receipt by the Company of the first
notice of such claim, whichever shall first occur.
Nothing herein contained shall be construed as extending or changing the effective date of said Policy.
This indorsement is made a part of said Policy and is subject to the schedules, conditions and stipulations therein,
except as modified by the provisions hereof.
FECO TITLE INSURANC COMPANY
•Fof • !O
By
Authorized Signature
Form2.11
Owner's Inflation Protection Indorsement
OR-2.11 (2-79) SAFECO
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4 SAFECO rrns INSUeANCE COMPANY
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:•• 9011 S.W.5YJTFNLSQ.NWY.
>ry PORTLAND.OR 97225
CONDITIONS AND STIPULATIONS (Continued and Concluded From Reverse Side of Policy Face)
•
5. Option to Pay, Settle or Compromise as provided in paragraph 2 hereof. Company and the Insured at the time of the is-
Claims suance of this policy and shown by an express
(e) When liability has been definitely fixed in statement herein or by an endorsement attached
The Company shall have the option to pay or accordance with the conditions of this policy the hereto.
settle or compromise for or in the name of the loss or damage shall be payable within thirty days
Insured any claim insured against or to pay the full thereafter. 9. Subrogation Upon Payment or Settlement
amount of this policy, or, in case loss is claimed
under this policy by the owner of the indebtedness 7. Liability Noncumulative Whenever the Company shall have settled a
secured by a mortgage covered by this policy,the It is expressly understood that the amount of this claim under this policy,all right of subrogation shall
Company shall have the option to purchase said policy is reduced by any amount the Company vest in the Company unaffected by any act of the
indebtedness;such purchase,payment or tender may pay under any policy insuring the validity or Insured, and it shall be subrogated to and be
of payment of the full amount of this policy, to- priority of any mortgage shown or referred to in entitled to all rights and remedies which the In-
gether with all costs,attorneys'fees and expenses Schedule B hereof or any mortgage hereafter sured would have had against any person or
which the Company is obligated hereunder to pay, executed by the Insured which is a charge or lien property in respect to such claim had this policy not
shall terminate all liability of the Company here- on the estate or interest described or referred to in been issued. If the payment does not cover the
under.In the event,after notice of claim has been Schedule A, and the amount so paid shall be loss of the Insured, the Company shall be sub-
given to the Company by the Insured, the Corn- deemed a payment to the Insured under this rogated to such rights and remedies in the pro-
pany offers to purchase said indebtedness, the policy.The provisions of this paragraph numbered portion which said payment bears to the amount of
owner of such indebtedness shall transfer and 7 shall not apply to an Insured owner of an in- said loss. If loss should result from any act of the
assign said indebtedness and the mortgage debtedness secured by a mortgage shown in Insured,such act shall not void this policy,but the
securing the same to the Company upon payment Schedule B unless such Insured acquires title to Company, in that event, shall be required to pay
of the purchase price. said estate or interest in satisfaction of said in- only that part of any losses insured against
debtedness or anypart thereof. hereunder which shall exceed the amount,if any,
6. Payment of Loss lost to the Company by reason of the impairment of
(a) The liability of the Company under this policy 8. Coinsurance and Apportionment the right of subrogation.The Insured,if requested
by the Company,shall transfer to the Company all
shall in no case exceed,in all,the actual loss of the
(a) In the event that a partial loss occurs after the rights and remedies against any person or pro-
Insured and costs and attorneys' fees which the Insured makes an improvement subsequent to the perty necessary in order to perfect such right of
Company may be obligated hereunder to pay. date of this policy, and only in that event, the subrogation,and shall permit the Company to use
(b) The Company will pay,in addition to any loss Insured becomes a coinsurer to the extent here the name of the Insured in any transaction or
insured against by this policy, all cost imposed inafter set forth. litigation involving such rights or remedies.
upon the Insured in litigation carried on by the If the cost of the improvement exceeds twenty per
If the Insured is the owner of the indebtedness
Company for the Insured, and all costs and at-
centum of the amount of this policy, such pro- secured by a mortgage covered by this policy,
torneys'fees in litigation carried on by the Insured portion only of any partial loss established shall be
an such Insured may release or substitute the
with the written authorization of the Company.y. borne by the Company as one hundred twenty per personal liability of any debtor or guarantor, or
No claim for damages shall arise or be centum of the amount of this policy bears to the
(c) 9 extend or otherwise modify the terms of payment,
maintainable under this policy (1) if the Com sum of the amount of this policy and the amount or release a portion of the estate or interest from
pany, after having received notice of an alleged expended for the improvement. The foregoing the lien of the mortgage,or release any collateral
defect, lien or encumbrance not excepted or provisions shall not apply to costs and attorneys'
security for the indebtedness, provided such act
excluded herein removes such defect, lien or fees incurred by the Company in prosecuting or does rot result in any loss of priority of the lien of
encumbrance within a reasonable time after providing for the defense of actions or proceedings the mortgage.
receipt of such notice, or (2) for liability volun- in behalf of the Insured pursuant to the terms of this
tarily assumed by the Insured in settling any claim policy or to costs imposed on the Insured in such 10. Policy Entire Contract
or suit without written consent of the Company, actions or proceedings,and shall apply only to that Any action or actions or rights of action that the
or (3) in the event the title is rejected as un- portion of losses which exceed in the aggregate Insured may have or may bring against the Com-
marketable because of a defect, lien or encum- ten per cent of the face of the policy.
pany arising out of the status of the lien of the
brance not excepted or excluded in this policy,until Provided, however, that the foregoing coin- mortgage covered by this policy or the title of the
there has been a final determination by a court of surance provisions shall not apply to any loss estate or interest insured herein must be based on
competent jurisdiction sustaining such rejection. arising out of a lien or encumbrance for a liquidated the provisions of this policy.
(d) All payments under this policy, except amount which existed on the date of this policy and
payments made for costs, attorneys' fees and was not shown in Schedule B; and provided
expenses, shall reduce the amount of the in- further, such coinsurance provisions shall not No provision or condition of this policy can be
apply to any loss if,at the time of the occurrence of waived or changed except by writing endorsed
surance pro tanto and no payment shall be made hereon or attached hereto signed by the President,
without producing this policy for endorsement of such loss, the then value of the premises, as so a Vice President, the Secretary, an Assistant
such payment unless the policy be lost or de- improved, does not exceed one hundred twenty
er centum of the amount of thispolicy. Secretary or other validating Officer of the Com-
stroyed, in which case proof of such loss or p
pany.
destruction shall be furnished to the satisfaction of (b) If the land described or referred to in Sche-
the Company;provided, however, if the owner of dule A is devisible into separate and noncon- 11. Notices,Where Sent
an indebtedness secured by a mortgage shown in tiguous parcels,or if contiguous and such parcels All notices required to be given the Company and
Schedule B is an Insured herein then such are not used as one single site, and a loss is any statement in writing required to be furnished
payments shall not reduce pro tanto the amount of established affecting one or more of said parcels the Company shall be addressed to it at the office
the insurance afforded hereunder as to such In- but not all,the loss shall be computed and settled which issued this policy or to:
sured, except to the extent that such payments on a pro rata basis as if the face amount of the
reduce the amount of the indebtedness secured by policy was divided pro rata as to the value on the
such mortgage. Payment in full by any person or date of this policy of each separate independent
voluntary satisfaction or release by the Insured of a parcel to the whole, exclusive of any improve- SAFECO Title Insurance Company of Oregon
mortgage covered by this policy shall terminate all ments made subsequent to the date of this policy, Home Office Legal Department
liability of the Company to the insured owner of the unless a liability or value has otherwise been 1800 S.W.First Avenue
indebtedness secured by such mortgage,except agreed upon as to each such parcel by the Portland,Oregon 97201
ORP-218(Rev.4-80)