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8598 ~ Ann Street VT LT7 *00, Project 'SSL 32. 3 Easement: T 8598 Deed Reference: B464 , P 190 KNOW ALL MEN BY THESE PRESENTS : That we (I) Walter and LIArl-Q-_ Eefsen, husband and wife - hereinafter termed grantor (s) , in consideration of the sum of $ 50. 00 to be paid by CITY OF TIGARD, a municipal corporation of Oregon, herein- after termed the City, hereby grant, bargain, sell and convey unto the CITY OF TIGARD a perpetual right-of-way and easement as hereinafter described, together, with a temporary right-of-way and easement to use an additional area hereinafter described and designated temporary ease- ment, for the following uses and purposes: 1. Perpetual, easement: An unencumbered perpetual right-of-way and easement for the purpose of constructing, reconstructing, operating, maintaining, inspecting and repairing of an under-ground sewer line and -appurtenances, together with the right to remove , as necessary, vegetation, foliages, trees and other obstructions within the easement area, but reserving to the grantors the title to the lands, subject to the easement, and the right to make such use thereof , except to construct buildings, as will not interfere with the uses ana purposes of the easement; said easement area being A portion of that tract of land in Section 3 , T2S, RlW, W.M. , Washington County, Oregon conveyed to Walter & 1.1arie Eefsen as described in Book 461 Page 190 , Deed Records of said Washington County, more particularly described as follows : The Northerly 15 feet of said Eefsen tract 2. Temporary easement: Together with the temporary right of ingress , egress , and regress, and use for sewer construction purposes, of additional lands lying parallel to, along the South side and within 20 feet, when measured at right angles, of the above described perpetual easement area, excepting and reserving to grantors the unencumbered enjoyment, use and preservation of all struc- tures present upon the premises. This temporary easement shall terminate upon completion of the sewer construction work, at which time, upon request of the owner, the City will issue a written release thereof. Page 1 758 prs.185 Easement 85� 8 Should it be necessary to cut and remove any brush, trees , or other matter or materials from the easement area, said brush, trees, or other matter and materials shall be removed and disposed of by the City and the City shall leave the easement area in a neat and workmanlike condition. The City agrees that in connection with its use of the perpetual easement area and in inspecting, repairing, maintaining, or replacing said sewer line, the City will leave the premises in a neat and workmanlike condition and as nearly in the pre-existing state as practicable. The grantors do hereby warrant that they are the owners in fee simple -and have the right to grant the above described easements . Witness our hands and seals this day of a'U4 . 190/14. �AL) Qte.L AZ,(� (SEAL) (SEAL) (SEAL) (SEAL) For a consideration, the lien on the above described properties is hereby made subordinat-c to the easements above granted. Dated this day of 19 Mortgagee By Title STATE OF OREGON ) ss . County of on this day of A- 196-cK personally appeared the above named 114__, -1r z and acknowledged the foregoing instrument to be their voluntary act and deed. Before me: Notary Public for Oregon My Commission expires : ZZ Page 2 Easement R nn,Y, 7W/ PMF-386' STATE OF OREGON ) ss. County of Wash. On this -26th day Of Sere 1961, personally appeared the above named and acknowledged the foregoing instrument to be their voluntary act and deed. Before me: Notary Public for Oregon My Commission expires : ACCEPTANCE The City above named hereby accepts the foregoing grants and agrees to comply with each and every term and condition thereof. CITY OF TIGARD By: Mayor By: ij i t y �f tolr-—dce f- STATE OF OREGON ) ss. County of Wash, On this - 26th day of S,,+ 196 before me appeared Elvin r. ZVI,- and Hartig both to me personally known who, being duly sworn, did say that he, the said Elvin G. Kyle is the Mayor, and he, the said Doris liartig is the Recorder of the CITY OF TIGARD, a municipal corporation, and the said Trl^ and nnri.5 T-Tn i-+.i a acknowledEgletlth4e—slYiia-instrument to be the free act and deed of said muni'tipal corporation. IN TESTIMONY WHEREOF, I have hereunto set my d and affixed my official seal, this the day and year in th ,is ceftficate first written. Notary Public for Oregon My commission expires Page 3 Easement • } LLI C() > — Q S.iU. LYM M ST a 1�• Fs 52�, S. W. AMAj ST T-37 WALTER JV A-21E. EE<rS0W 2.,51 3 8 A 114 44-11194) 100 LINEAL F'T, !SCALE 1"•SCa' �} P-48(6.14+ Q ppG€ INDEXED ?K STATE OF OREGON ss �, Steve+ns,Thompson 8z Runyan,z:fa. County of Washington �L�a.�iL "/ EngineersIftw ters r*err P ORTLANO.0MCGON SEATTLE.WASHINGTON i, Roger Thomsen, Director a€ Records and Elections 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 j No. ----- ----------------------------------------rte of said County Witness my hand and seal affixed. ROGER THOMSSEN, Director of Records & Ele tions peputy P14 M 1 4& N4qw" OCT 425 S.W. Fourth Avenue/Portland, Oregon CIry OF TIGARD Phone 222-3651 POLICY OF TITLE INSURANCE Oregon Land Title Association Standard Coverage Policy No. 316069 Premium $ 25.00 TITLE INSURANCE COMPANY, a corporation, (incorporated under the laws of the State of Oregon), here- inafter 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 Stipu- lations 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 tide existing at the date hereof, not shown or referred to in Schedule B, or excluded from coverage in the Conditions and Stipulations; 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 SCHEDULES A and B, and the CONDITIONS and STIPULATIONS herein, all of which are hereby made a part of this policy. In witness whereof, TITLE INSURANCE COMPANY has caused its corporate name and seal to be hereunto affixed and authenticated by the facsimile signatures of its President and Secretary, provided this policy is valid only when countersigned by a duly authorized officer of the corporation. Countersigned V'sX`X"M X A I TITLE INSURANCE COMPANY c" it 41 RPOR President 0 A Attest: 'Authorized Officer 10. �•�� 4 PAGE I OF POLICY • • Secretary REV.7-63 TI-21 rG( id SCHEDULE A Amount $1,000-00 Date October 1, 1969 At 2 :42 P.M. INSURED ---CITY OF TIGARD--- easement The fee simple title to said NAWis, at the date hereof, vested in CITY OF TIGARD, a municipal corporation.--- The land referred to in this policy is described as: PERPETUAL EASEMENT: portion of that tract of land in Section 3, Township 2 South, Range 1 West, V7,illamette Meridian, V7,ashington County, Oregon, conveyed to Walter and Marie Eefsen, as described in Book 461, Page 1901, Deed Records of said Washington County, more par- ticularly described as follows : The Northerly 15 feet of said Eefsen tract . TEMPORARY EASEMENT: Together with the temporary right of ingress, egress, and regress, and use for sewer construction purposes, of additional lands lying narallel to, along the South side and within 20 feet , when measured at right angles, of the above describedpernetual easement area. --- PAGE 2 OF POLICY NO. 316069 Oregon Land Title Association aAwk AMA Standard coverage Policy R 8-60 ' SCHEDULE B This policy does not insure against loss 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 in Paragraphs numbered 4 and S on page I of this policy. 1. Taxes or assessments which are not shown as existing liens by the records of any taxing authority that Ievies taxes or assessments on real property or by the public records; pending pro- ceedings for vacating, opening or changing of streets or highways preceding entry of the ordinance or order therefor. 2. Any facts, rights, interests, or claims which are not shown by the public records but which could he ascertained by an inspection of said land or by making inquiry of persons in possession thereof. 3. Easements, claims of easement or encumbrances which are not shown by the public records; unpatented 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. 5 . Tigard City Liens , if any. 6. Conditions and Restrictions in instrument executed by Albert Christensen , et ux, dated December 1, 1959, recorded March 23 , 1960, in Deed Book 428, Page 553 , reference to which is hereby made. 7. Easement to Electric and Telephone Companies for lines as shown on plat. 8. Easement, including the terms and provisions thereof, granted to The City, of Tigard , dated August 8, 1969, recorded October 1, 1969, in Book 758, Page 385 , Washington County Records,---- Page 3 of Policy No. 3 16 06 9 TI-30 • title insurance 12012 S.W. Canyon Road f Beaverton, Oregon 97005 escrows Phone 646-8181 HEAD OFFICE 425 S.W. FOURTH AVEt PHONE 222-3651 City of Tigard Order No. 316069 Dept. of Public Works August 19, 1969 Citv Hall Tigard, Oregon 97223 Re: Eefsen, et ux Gentlemen: We are prepared to issue title insurance policy covering: Lot 14, LERON HEIGHTS, City of Tigard, Washington County, Oregon. showing title on Auctust 11, 1969 at 5: 00 P.M., vested in: WALTER BEFSEN and MARIE EEPSEN an estate in fee simple as tenants by the entirety subject to the usual printed exceptions, and 1. Tigard City Liens, if any. 2. conditions and Restrictions in instrument executed by Albert Christensen, et ux, dated December 1, 1959, recorded March 23, 1960, in Deed Book 428, Page 553, reference to which is hereby made . 3. Easement to Electric and Telephone Companies for lines as shown on plat. Note: 1968-69 taxes, $630.25, paid. (2S1 3BA 114 23-9) TITLE INSURANCE COMPANY Washington un Branch JP t (i M aures A. Parker -•__� f 21 S f R=261 5 1200 S.0703 W X71• •_'9g 149 71 W(D 50!(x`� ; u \ AO O 1 3 8.24 !/.<:.a:. N07°30'Ebbo _0 00, 0 m o a - _ C- IV o ~ V J o -u /..-\ m �' N a m cn o n S05091 A W. -' 0 0 j v -__ o v m ' O 'O S01°06'W -- \ N07 ^, O N i 133.20 - °30E 155.85 \y TL +. \ AD O S05°04'W r\) "i 13 9.68 1„r,; N O - SO 1°I 2' W. � OD W z r-- -- 138.03 12(_() - 3. a wo W �` .2e 00 O O A SM0I 19th0 ,o m S- WW 4 - O N - - S 01017'W 110 142.62 m - - 130 \/ N Z - W -ter U m v o DO�om \ s 05008'w. Z _ (� .41 148.91 L c V o_ O W S O I° 2 2'W N \/ N (n ? 147.03 UP07 o o 0) C, O » q O O f m Ul W CII a s os01 o'W Ln 153 w IS3.28 N \ S 010 26'W 1 5 1.2 5 \ N V a o` 0 _ � W v z W CIDo eo C71 W o p \ 130 - a y+ 110 `a 0 S 05 0124 W W f/QK c�/ Q _ 57.SG - U `S 01°30W � _ S.��.O 118t a < C�2 O -- - - 155.36 U �) _I - /:\ 110 O V J N v - mOD 05.1 3W ' T7 \ Yom:✓ �4�, ■ A (� 'lJ ��� � S.05° � y -,O 16 1.66 T a- _ 1 •' 0) S 010 33 W O ---- - - �- vv - w m OD .4 1 159.47 N oto - O NO°45'E cA1 CDb o 110 138.69 o b \ ° - 4 W N 1 - y -- S01°37'W \ v m AVE 163.56 W ,� o w N \'7 o A A , 99 3 A 71.13s / w c„ CD L)i p m o l o /.\ vca \/ W n o iv O z IP W w N \ Ul W N (D m �0 O 135.52 130.07 110 115 OD 116th. 1 3.05 , N 01002'E \ AN N 5'E 105 105 )'E 287.36 N01002E 110.0 N 110.0 05 105 - O L N N N N n� - N \ N W A X00 'n � z t �++0 m m _ � _m D m m .4 `.rr� 'D ° NO 01 - S/l N OD - O v v,U- m m \ f N W � � W C) 0°45 W 63470 00 255.71 --- ;;> x� � 8;' %�l NOb _-o_49'E 215.16 N00045'E _ m z 45 A { O Z r- 2 N (A r z =Z _ m C o N W � D D z Con � m r r m P-486. 114 June 23, 1969 Easement T-37 Walter & Marie Eefson 11825 S. W. Ann St. Tigard, Oregon Book 461 Page 190 2S 1 3 BA 114 100 lineal ft. A PERMANENT EASEMENT A portion of that tract of land in Section 3, T2S, RIW, W. M. , Washington County, Oregon conveyed to Walter & Marie Eefson as described in Book 461 Page 190, Deed Records of said Washington County, more particularly described as follows: The Northerly 15 feet of said Eefson tract. A TEMPORARY EASEMENT The Northerly 35 feet of the aforementioned Eefson tract. a. CO r L Y M M ST. tr Rf� �Y-3 a f 3 i .O SST . S. W T-37 \VAL'rE?. MAR1� 1vEFSt)N 25 1 38A 114- 441/00 100 LWEAL F r SCALE i'•5CZ' p- Siemens.Thompson 8: Runyan,Inc. EngineersIftmers PORTb,ANO.OREGON SEAT4t.E.w"HINGTON STANDARD COVERAGE POI.tCY, a _ REV.;-63 Cc tvDITI©NS ARID STIPULAT'"" NS (Includes those in the American Land Title Association-Owner's Policy—Standard Form B-1962) 1, DEFINITION OF TERMS 6. OPTION TO PAY,SETTLE OR COMPROMISE CLAIMS The following terms when used in this policy mean: The Company shall have the option to pay or settle or compromise for or in a the name of the Insured any claim insured against or to pay the full amount of this (a) "land": the land described, specifically or by reference, in Schedule A and policy,or,in case Ioss is claimed under this policy by the owner of the indebtedness improvements affixed thereto which by law constitute real property; secured by a mortgage covered by this policy, the Company shall have the option ' (b) "public records": those records which impart constructive notice of matters to purchase said indebtedness; such purchase, payment or tender of payment of the relating to said land; full amount of this policy,together with all costs,attorney's fees and expenses which + (c) "knowledge": actual knowledge, not constructive knowledge or notice which the Company is obligated hereunder to pay, shall terminate all liability of the Cam• may be imputed to the Insured by reason of any public records; patty hereunder. In the event, after notice of claim has been given to the Company by the Insured, the Company offers to purchase said indebtedness, the owner of (d) "date": the effective date; such indebtedness shall transfer and assign said indebtedness and the mortgage (e) "mortgage"; mortgage, deed of trust, trust deed, or other security instru- securing the same to the Company upon payment of the purchase price. ment; and 7. PAYMENT OF LOSS (f) "insured": the party or parties named as Insured, and if the owner of the (a) The liability of the Company under this policy shall in no case exceed, in indebtedness secured by a mortgage shown in Schedule B is named as an Insured all, the actual loss of the Insured and costs and attorney's fees which the Company in Schedule A, the Insured shall include (1) each successor in interest in ownership may be obligated hereunder to pay, of such indebtedness, (2) any such owner who acquires the estate or interest referred (b) The Company will pay, in addition to any loss insured against by this to in this policy by foreclosure, trustee's sale, or other legal manner in satisfaction policy, all costs imposed upon the Insured in litigation carried on by the Company of said indebtedness, and (3) any federal agency or 'instrumentality which is an for the Insured, and all costs and attorney's fees in litigation carried on by the insurer or guarantor under an insurance contract or guaranty insuring or guarantee- Insured with the written authorization of the Company. ing said indebtedness, or any part thereof, whether named as an Insured herein or (c) No claim for damages shall arise or be maintainable under this policy (1) not, subject otherwise to the provisions hereof, if the Company, after having received notice of an alleged defect, lien or encum- 2. BENEFITS AFTER ACQUISITION OF TITLE brance not excepted or excluded herein removes such defect, lien or encumbrance within a reasonable time after receipt of such notice, or (2) for liability voluntarily If an insured owner of the indebtedness secured by a mortgage described in Schedule B acquires said estate or interest, or any part thereof, by foreclosure, assumed , the Insured m settling any claim je suit without written consent of the trustee's sale, or other legal manner in satisfaction of said indebtedness, or any Company, or (n in the event the title o rejected as unmarketable because of s defect, Lien or encumbrance not excepted or excluded in this polity, until there has part thereof,or if a federal agency or instrumentality acquires said estate or interest, been a final determination by a court of competent jurisdiction sustaining such or any part thereof,as a consequence of an insurance contract or guaranty insuring rejection. or guaranteeing the indebtedness secured by a mortgage covered by this policy, or (d) All payments under this policy, except payments made for costs, attorneys' any part thereof, this policy shall continue in farce in favor of such Insured, agency fees and expenses, shall reduce the amount of the insurance pro tanto and no pay- or instrumentality, subject to all of the conditions and stipulations hereof. ment shall be made without producing this policy for endorsement of such payment 3. EXCLUSIONS FROM THE COVERAGE OF THIS POLICY unless the policy be lost or destroyed in which case proof of such lass or destruction " shall be furnished to the satisfaction of the Company; provided, however, if the This policy does not insure against loss or damage by reason of the following: owner of an indebtedness secured by a mortgage shown in Schedule B is an In. (a) Any law, ordinance or governmental regulation (including but not limited sured herein then such payments shall not reduce pro tanto the amount of the to building and zoning ordinances) restricting or regulating or prohibiting the insurance afforded hereunder as to such Insured, except to the extent that such occupancy, use or enjoyment of the land, or regulating the character, dimensions, payments reduce the amount of the indebtedness secured by such mortgage. Pay- or location of any improvement now or hereafter erected on said land, or prohibiting ment in full by any person or voluntary satisfaction or release by the Insured of a a separation in ownership or a reduction in the dimensions or area of any lot or mortgage covered by this policy shall terminate all liability of the Company to the parcel of land. insured owner of the indebtedness secured by such mortgage, except as provided in (b) Governmental rights of police power or eminent domain unless notice of paragraph 2 hereof. the exercise of such rights appears in the public records at the date hereof. (e) When liability has been definitely fixed in accordance with the conditions of (c) Title to any property beyond the lines of the land expressly described in this policy the loss or damage shall be payable within thirty days thereafter. Schedule A, or title to streets, roads, avenues, lanes, way or waterways on which &. LIABILITY NONCUMULATIVE such land abuts, or the right to maintain therein vaults, tunnels,ramps or any other It is expressly understood that the amount of this policy is reduced by any structure or improvement; or any rights or easements therein unless this policy amount the Company may pay under any policy insuring the validity or priority of specifically provides that such property, rights or easements are insured, except that any mortgage shown or referred to in Schedule B hereof or any mortgage hereafter if the land abuts upon one or more physically open streets or highways this policy executed by the Insured which is a charge or lien on the estate or interest described insures the ordinary rights of abutting owners for access to one of such streets or or referred to in Schedule A, and the amount so paid shall be deemed a payment to highways, unless otherwise excepted or excluded herein. the Insured under this policy, The provisions of this paragraph numbered 8 shall (d) Defects, liens, encumbrances, adverse claims against the title as insured or not apply to an Insured owner of an indebtedness secured by a mortgage shown other matters (1) created, suffered, assumed or agreed to by the Insured claiming in Schedule B unless such Insured acquires title to said estate or interest in mtis- loss or damage; or (2) known to the Insured Claimant either at the date of this faction of said indebtedness or any part thereof. policy or at the date such Insured Claimant acquired an estate or interest insured 9. COINSURANCE AND APPORTIONMENT V this policy and not shown by the public records, unless disclosure thereof in (a) In the event that a partial loss occurs after the Insured makes an improve, writing by the Insured shall have been made to the Company prior to the date of ment subsequent to the date of this policy, and only in that event, the Insured this policy; or '3) resulting in no loss to the Insured Claimant; or (4) attaching becomes a coinsurer to the extent hereinafter set forth. or created subsequent to the date hereof. If the cost of the improvement exceeds twenty per centum of the amount of this (e) Loss or damage which would not have been sustained if the Insured were policy, such proportion only of any partial loss established shall be borne by the a purchaser or encumbrancer for value without knowledge. Company as one hundred twenty per centum of the amount of this policy bears (f)f Usury or Claims Of usu to the sum of the amount of this policy and the amount expended for the improve. y ry. ment. The foregoing provisions shall not apply to costs and attorneys' fees in- (g) "Consumer credit protection," "truth-in-lending," or similar law. carred by the Company in prosecuting or providing for the defense of actions or proceedings, in behalf.of the Insured pursuant to the terms of this policy or to 4. DEFENSE AND PROSECUTION OF ACTIONS— costs imposed on the Insured in such actions or proceedings, and shall apply only NOTICE OF CLAIM TO BE GIVEN BY THE INSURED to that portion of losses which exceed in the aggregate ten per cent of the face of the policy. (a) The Company, at its own cost and without undue delay shall provide (1) Provided, however, that the foregoing coinsurance provisions shall not apply for the defense of the Insured in all litigation consisting of actions or proceedings to any loss arising out of a lien or encumbrance for a liquidated amount which commenced against the Insured, or defenses, restraining orders, or injunctions inter- existed on the date of this policy and was not shown in Schedule B; and provided posed against a foreclosure or sale of the mortgage and indebtedness covered by further, such coinsurance provisions shall not apply to any loss if, at the time of this policy or a sale of the estate or interest in said land; or (2) for such action as the occurance of such loss, the then value of the premises, as so improved, does may be appropriate to establish the title of the estate or interest or the lien of the not exceed one hundred twenty per centum of the amount of this policy. mortgage as insured, which litigation or action in any of such events is founded (b) If the land described or referred to in Schedule A is divisible into separate upon an alleged defect,lien or encumbrance insured against by this policy,and may and noncontiguous parcels, or if contiguous and such parcels are not used as one pursue any litigation to final determination in the court of last resort. single site, and a loss is established affecting one or more of said parcels but not (b) In case any such action or proceeding shall be begun, or defense inter- all,the loss shall be computed and settled on a pro rata basis as if the face amount posed, or in case knowledge shall come to the Insured of any claim of title or of this policy was divided pro rata as to the value on the date of this policy of each interest which is adverse to the title of the estate or interest or lien of the mortgage separate independent parcel to the whole, exclusive of any improvements made as insured, or which might cause loss or damage for which the Company shall or subsequent to the date of this policy, unless a liability or value has otherwise been may be liable by virtue of this policy, or if the Insured shall in good faith con- agreed upon as to each such parcel by the Company and the Insured at the time of tract to sell the indebtedness secured by a mortgage covered by this policy, or, if the issuance of this policy and shown by an express statement herein or by an an Insured in hood faith leases or contracts to sell, lease or mortgage the same, or endorsement attached hereto. if the successful bidder at a foreclosure sale under a mortgage covered by this policy 10. SUBROGATION UPON PAYMENT OR SETTLEMENT refuses to purchase and in any such event the title to said estate or interest-is re- Whenever the Company shall have settled a claim under this policy, all right jetted as unmarketable, the Insured shall notify the Company thereof in writing. of subrogation shall vest in the Company unaffected by any act of the Insured, If such notice shall not be given to the Company within ten days of the receipt of and it shall be subrogated to and be entitled to all rights and remedies which the process or pleadings or if the Insured shall not, in writing, promptly notify the Insured would have had against any person or property in respect to such claim Company of any defect, lien or encumbrance insured against which shall come to had this policy not been issued. If the payment does not cover the loss of the In- the knowledge of the Insured,or if the Insured shall not in writing, promptly notify sured, the Company shall be subrogated to such rights and remedies in the pro or. the Company of any such rejection by reason of claimed unmarketabiIity of title,then tion which said payment bears to the amount of said loss. If loss should result from all liability of the Company in regard to the subject matter of such action, pro- any act of the Insured, such act shall not void this policy, but the Company, in ceeding or matter shall cease and terminate; provided,however, that failure to notify that event, shall beequired to pay only that part of any losses insured against shall in no case prejudice the claim of any Insured unless the Company shall be hereunder which shall exceed the amount, if any; lost to the Company by reason actually prejudiced by such failure and then only to the extent of such prejudice. of the impairment of the right of subrogation. The Insured, if requested by the (c) The Company shall have the right at its own cost to institute and prosecute Company, shall transfer to the Company all rgihts and remedies against any person any action or proceeding or do any other act which in its opinion may be necessary or property necessary in order to perfect such right of subrogation, and shall permit or desirable to establish the title of the estate or interest or the lien of the mortgage the Company to use the name of the Insured in any transaction or litigation involving as insured; and the Company may take any appropriate action under the terms of such rights or remedies, this policy whether or not it shall be liable thereunder and shall not thereby concede If the Insured is the owner of the indebtedness secured by a mortgage covered liability or waive any provision of this policy. by this policy, such Insured may release or substitute the personal liability of any (d) In all cases where this policy permits or requires the Company to prosecute debtor or guarantor, or extend or otherwise modify the terms of payment, or release or provide for the defense of any action or proceeding, the Insured shall secure to a portion of the estate or interest from the lien of the mortgage, or release any it the right to so prosecute or provide defense in such action or proceeding, and collateral security for the indebtedness, provided such act does not result in any all appeals therein, and permit it to use, at its option, the name of the Insured for loss of priority of the lien of the mortgage. such purpose. Whenever requested by the Company the Insured shall give the 11. POLICY ENTIRE CONTRACT Company all reasonable aid in any such action or proceeding, in effecting settle- Any action or actions or rights of action that the Insured may have or may bring ment, securing evidence, obtaining witnesses, or prosecuting or defending such against the Company arising out of the status of the lien of the mortgage covered action or proceeding,and the Company shall reimburse the Insured for any expense by this policy or the title of the estate or interest insured herein must be based on so incurred. the provisions of this policy. 3. NOTICE OF LOSS—LIMITATION OF ACTION No provision or condition of this policy can be waived or changed except by writing endorsed hereon or attached hereto signed by the President,a Vice-President, In addition to the notices required under paragraph 4(b),a statement in writing the Secretary, and Assistant Secretary or other validating officer of the Company, of any loss or damage for which it is claimed the Company is liable under this 12. NOTICES, WHERE SENT policy shall be furnished to the Company within sixty days after such loss or damage All notices required to be given the Company and any statement in writing shall have been determined and no right of action shall accrue to the Insured under required to be furnished the Company shall be addressed to it at the office which this policy until thirty days after such statement shall have been furnished, and no issued this policy. recovery shall be had by the Insured under this policy unless action shall be com- menced thereon within five years after expiration of said thirty day period. Failure to furnish such statement of loss or damage, or to commence such action within the time hereinbefore specified, shall be a conclusive bar against maintenance by the Insured of any action under this policy.