3724 ~ Dartmouth ~ Pacific Highway i I T L E I N S Uifi*'N C 0 IA P A N Y
3724
EASEMENT
MESETTITS, That PORTLAT T D �IIMTEIRAL EJ,EC!77?lc
NTOW UZ MEN BY 7
COMPA
IN an Oregon corporation, hereinafter called "Company", in consider-
ation of the covenants and conditions contained in this instrument to be
kept and performed by the CITY of TT9.kRD, a municipal corporation of the
State of Oregon, hereinafter called "City", does hereby grant *,;,nto the
City an easement and right of way across but underneath and not, on the
surface of a strip of land in Section 36, Township 1 South, Range 1 West,
Willamette Meridian, County of Wathingteiftate of Oregon, said strip of
land being 15 feet in width, extending 7. 5 feet on each side of a center
line mere partic-.;I-qrly described as follows: t wit:
Beginning at a point on the Northerly line of that
r.
tract of land described in Book 4%, Page 433, deed
records, Washington County, Oregon, said point
being 7. 5 feet easterly of the northwest corner of
said Portland "eneral Electric tract-, thence southerly
parallel to and 7. 5 feet easterly of the west line of
said tract 210 feet.
For the pl-Arpose of constructing, reconstructing, repairing, and
therelifter maintaining a sever line consisting of 8-inch concrete pipe.
TO HAVE AID TO 11"010 the above described and granted Easement
and right-of-way to the said City, its successors and assigns together
with the right of ingress and egress to and from the above described
right—)f-way, over and across the adjacent land. of the Company so long as
the same is in acti�al use and operation for the Ixtrposes herein mentioned
or so long as the same is built', maintained, and operated in accordance
with the terms and conditions set forth in this instri-,.ment.
This grant is s-,.-b,lect, however, to the following conditions to
which the City, by the -i.cceptance thereof, agrees:
1. The easement granted here,, rider covers only s:--..ch rights
in the -real property desc.ribed. as have been heretofore ac,.j1--,-irec.J by
the Company and is slAbject to all restrictions and conditions limiting
the Company's right to occi-i-py said properties.
Page 1 - Easement 720 PAGE 518
3724
2. 17he sewer line to be constructed by the City upon the
Company's property shall be of permanent construction, safe and sound
in all respects, and free from seepage orlftkage. Said pi-pe or conduit
shall be in a trench., the top of said pipe to be at, least six feet below
the si--rface of the ground. If any damage of any natiire is done to the
Company's property by reason of the construction, or the maintenance or
repair or renewal of said sewer, or any part thereof,, or any work in
connection. therpirith or from breakage or leakage or seepage of said sewer
or any appliance -,ised in connection therewith, the City, its s,,,ccessors
or assigns, shall compensate the (,,-)m-pg.ny fully therefor, incl-,.iding all
costs, charges and. expenses s-' stained by the Company on account of repairs
to its property incl,,.rred as a result of the construction, -)-peratLon,
q.nd maintenance of said sewer.
3. The C�1-1)mpqny shall not be liable for any damage to said
sewer by reason of electrolysis or other ca--,-ses, or by reason of any
st-r�,ctures, -)r any wor;,s, erected, made., or done by said 'Company upon its
land..
4. A" the close of the construction period the City shall clean
up and remove all- debris,, materials and apparatus from the property of the
Company leaving the same in as clean a condition and with the same slopes
i-.nd contours as it was before the placing of said sewer, all to the
satisfaction of the Company. The backfill of the trench must be compacted
to the satisfaction of the Company.
5. The City shall perform all operations upon the property of
the "llompany in a, wor' manlike and safe manner, and comply with all laws Ind
regdl.,qtions of the united States, the State of Oregon, or any governmental
tD
authority having ,jurisdiction in the premises.
6. The Company expressly reserves the right to use the
s,).rfn.(,,e Of the uround incl-l-Aed within this easement fcr qll-
and the right to use the subsurface for all purposes not inconsistent
with the use of the same -)r said sewer, and nAwithstanding this easement,
nox 720 PAGE5-19
Page 2 - Eq.sement
3721
nothing shall be done or suffered to be done by the City at any time
that shall in any manner impair the s--ifety of the poles, towers, and/or
trf.nsmission lines and other structures that now or may hereafter be
constri,,cted by the Company -across this easement ,Or in close proximity
thereof.
7. The right reserved by the Company to use the s-li.-:rface, or
the s,,.bsurface of the gro,_nd shall incl'Ude the right to permit others
to do so.
8. The City shall hold and sive harmless the Company, its
officers, agents and employees of and from any and all damages on account
of personal injury or death, suffered by anyone whomsoever, or property
damage, arising or growing out of the construction of said sewer or
subsequent work thereon, directly or indirectly, and for which either
or both of the parties hereto may or shall be liable. it is intended
by this provision to save harmless the Company from any and all claims
made by employees of the City or the City's Contractors or the Company
arising out of industrial accident as well as all other claims, and
it is intended that the Company shall be indemnified by the City for
any and all. loss s�listained by the Company by reason of negligence of
the Company in connection with the work of constructing the sewer on the herein
granted right-of-way or thereafter performing work thereon or in connection
with the condition of the Company's property on or about which said work
is to be performed, as well as the negligent acts of the City, its
agents and employees. Where work is to be performed on or adjacent
to the right-of-way herein granted for the City by o. party or person
other than the City, the City agrees that, it will require that each such
person or party give to the Company the same indemnity as is herein required
by the Company of the City.
'En the event that the -..ase of the easement area by the 'City
for the purposes herein provided be discontinued or abandoned, at any
time, or in the event of any failure to comply with or breach of terms
"fr%
MOK IM PAGE 520
Page 3 - Easement
——-------------------
%WW
72 4
hereof by the City, its successors or assigns, and such default or breach
continuing for more than thirty (30) days after written notice thereof
by the Company given to the City, the Company shall have the option to
terminate all rights hereunder on the 31st day thereafter.
1-0. It is agreed that the City shall not be bound hereby
to any terms, conditions or obligations hereof to which it may not
legally assent pursuant to the statutes of the State of Oregon and the
City Charter.
IN WITNESS WHEREOF, the parties hereto have caused this
instrument to be executed this 1 day of 1968.
PORTLAND 'rE.WERAL ELECYRIC COMR"-Y
7
By:
Vice President
Attest-
Vi
Secretary
Chief System Engineer
C aimE�-and Land
e:�r
4r
Lice President
STATE OF ORE-ION
) Ss.
County of Fultnomah )
Personally appeared Waldemar Seton, who being sworn, stated
that he is the Vice President of grantor corporation and that the seal
affixed thereto is its seal and that this easement was voluntarily signed
and sealed in behalf of the corporation by authority of its Board of
Directors.
Before me:
Notary TMbliq,/TFr Oregon
My Commission Expires:
Page 4 Easement BOOK 720 PAGE52-1
X
3724
l,CCEPTAECE
The City above named hereby accepts the foregoing grants and
agrees to comply with each and every term and condition thereof.
CITY OF TT" ARD
By: Z�L- �y
1`ayc
?ecorder
STATE '37 ORE CON )
SS.
Co,znty of T,Iultnomah 1
On this 28th day of August , 1968, before me appeared
Elvin G. Kyle and Doris Hartig both to
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
Hartig is the Recorder of the CITY OF TIGA.RD, a
municipal corporation and that the seal affixed to this instrument is the seal
of said municipal corporation, and the said Elvin G. Kyle
and Doris Iiartig acknowledged the said instrument to
be the free act and deed of said municipal corporation.
IN TESTITNIONY VHMEOF, T have hereunto set my hand and affixed
my official seal, this the day and year in this my certificate First written.
Notary Public for Oregon °
My commission expires
STATE OF OREGON /
County of Washington ss
t, Roger Thomssen,Director of Records and
Elections and Ex-Officio Recorder of Conveyances
for said county, do hereby certify that the within
instrument of writing was received and recorded
in book of records
No. .........................................>........ .�.........
of said County
Witness my hand and seal affixed.
ROGER THOMSSEN,Director of
Records&Elections
BOOKPAGE 522 . _ :10o�7
Page 5 - Easement QI is � eputy
r �59 DU R
(
k,
> q�✓ l i: a. 36.5
BARGAIN AND SALE DEED
K\OW ALL MEN BY THESE PRESENTS.That the STATE OF OREGON, by and tnrougn :ts
STATE HIGHWAY COMMISSION, hereinafter called the Grantor,for the consideration of the s.,m of .....-. ..
;COLLARS.
to it paid,ias bargained and sold and by these presents does grant.bargain,sell and convey unto
ueneral.::lectxic..Cor.pany.,..
hareinahor ca.le,: .y Grantee...., the following described premises,to wit;
x parcel of land lying in the EPM45E{ of Section 36, Township 1 SouLh, Range
1 West, W. M-, Washington County, Oregon; the said parcel being that portion of said
E1=--jSE1 lyii:g Westerly of a line which is parallel to and 150 feet Westerly of the
center line of the former West Portland-Hubbard Highway, and lying Northerly of a line
a:hich is parallel to and 50 feet Northerly of the center lire of the relocated South-
west Ha_^es Road. The center line of the West Portland-Hubbard Highway herein referred
to is described as follows:
J%
Beg.nn:ng at r^.ngineerss center lire Station 25+00, said Station being 5".86 feet
i:x th and 3C6,61 feet East of the East quarter corner of said Section 36; thence on a
3183:1 foot radius curve left (the long chord of which bear$ South 16e 411 17" :lest)
1492.66 feet to Station 39+92.66. The center line of the relocated Southwest Haines
Road 'herein referred to is described as follows.
Beginning at E.^gineer°s center lane Station 7+77072 (which Station. - Station
39+13,25 or, said West Port land-Hubbara Highway center line); thence :north 850 161
05" Wast, 211.33 feat; thence on a 159.15 foot radius curve left ;the lorg chord of
which boars South 470 52t 50" West) 260.29 feet to Station 12+49.34.
The parcel of land to which this description applies contains 14.95 acres.
Provi4ed, howevhr, there is reserved to the Grantor, and waivea by the Grantee,
all right of access between the above described real property and the right of way
of tte Pacific Highway (formerly the West Portland-Hubbard Highway) abutting on said
parcel, which public highway is further identified as Stats Highway No. 1. This
reservation shall run, with the land and shall not be subject to modification., can-
cellation or destruction by adverse user or estoppel, no matter how long continued.
Nothing in this conveyance contained shall be construed as conveying any estate, right,
title or interest in and to the public highway right of way or any rights of reversion
therein or thereto.
It is understood that this conveyance is delivered upon the express condition that
the above described land shall never be used for the placing, maintenance or display of
way advertising sign, bill or poster, within view of the Par•ific Highway (formerly the !;
West Portland-Hubbard Highway,/ except such thereof as may advertise the use to which the
property herein conveyed ins devoted, or for the sale or lease of said property of any u
portion thereof. In the event of violation of this condition the Grantor herein shat,
t..'.r the right through its authorized officers, Agents or'anployees to enter upon the
said ;.operty aid to remove, destroy or obliterate and offending sign bill or poster, ]
ai,thcut liability for damage or injury thereto, and to recrver the cost thereof from
the o.rner of the property. The rights herein reserved shall not be exclusive and shall
not be in derogatl= of any other right or remedy which the Grantor may have. the
rustrictiors, rights and conditions herein contained shall run with the land and shall
`c... ,, birl the Grantee, its successors and assigns.
i
4%
WASHINGTON COUNTY OFFICE 425 S.W. Fourth Avenue/ Portland, Oregon
526 N.W. CANYON ROAD # BEAVERTON, OREGON Phone 222-3651
TELEPHONE 646-8181
POLICY OF TITLE INSURANCE
Oregon Land Title Association
Standard Coverage Policy
No. 312740 Premium $ 2 5.0 0
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. Tide 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 13; or
3. Any defect in, or lien or encumbrance on, said title existing at the date hereof, not
shown or referred to in Schedule 13, 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
ire 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.
CountersignedPNCkt 1TITLE INSURANCE COMPANY
7
B
Y
j %
?, President
e, J 0
X
-Xiathorized Officer 0 ofteo Z>
W Attest:
PAGE I OF POLICY Xv Secretary
REV.7-63
TI-21 0
SCHEDULE A
Amount $ 1,000.00 Date October 11, 1965 At 2:59 P.M.
INSURED
---THE CITY OF TIGARD---
easement
The fee simple title to said linkis, at the date hereof, vested in
THE CITY OF TIGA.RD, a municipal corporation of Oregon.---
The land referred to in this policy is described as:
Beginning at a point on the Northerly line of that tract of
land described in Book 456, Page 433 , Deed Records , Washington
County, Oregon, said point being 7.5 feet Easterly of the Northwest
corner of said Portland General Electric Tract; thence Southerly
parallel to and 7.5 feet easterly of the West line of said tract
210 feet.---
PAGE 2 OF POLICY NO. 312740
TI 28
Oregon Land Title Association
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 5 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 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 be 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. Rights of the public in and to that part of the herein described
premises lying within the boundaries of roads and highways.
6. Easement, including the terms and provisions thereof, granted to
George F. Paulsen, dated April 26, 1963 , recorded February 17, 1964,
in Book 506, Page 347.
7. Limited access as set forth in deed from the State of Oregon, by
and through its State Highway Commission, to Portland General Electric
Company, an Oregon corporation, recorded January 29, 1962 , in Deed
Book 456, Page 433 , over and across the herein described property,
which provides that no right or easement of right of access to, from
or across the State Highway, other than expressly provided for, shall
attach to the abutting property.
S. Restrictions, as disclosed in deed, executed by The State of
Oregon, by and through its State Highway Commission, recorded January
29, 1962, in Deed Book 456, ?gage 433 , reference to which is hereby
made.
9. Easement, including the terms and provisions thereof, granted to
The City of Tigard, a municipal corporation of Oregon, dated August 21,
1968, recorded October 11, 1968, in Book 720, Page 518, Washington
County Records.---
Page 3 of Policy No. 312740
TI-3o
I/2 IN. PIP6 E
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EMENT 323 91188.80 as 3.5 4?4.15
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OREGON LAND TITLE ASSOCIATION
STANDARD COVERAGE POLICY
REV.4.63 CONDITIONS AND STIPULATIONS
(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 to
{a} "land": the Land described, specifically or by reference, in Schedule A and the name of the Insured any claim insured against or to pay the full amount of this
policy,or,in case toss 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 Com-
may be imputed to the Insured by reason of any public records; pany 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 shalt in no case exceed, in
indebtedness secured by a mortgage shown in Schedule B is named as an Insured all, the actual.Ions 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
If an insured owner of the indebtedness secured b described in within a reasonable time after receipt of such notice, or (2) for liability voluntarily
Y a mortgage e g g assumed by the Insured in settling any claim or suit without written consent of the
Schedule B acquires said estate or interest, or any part thereof, by foreclosure, Company, or (3) in the event the title is rejected as unmarketable because of a
trustee's sale, or other legal manner in satisfaction of said indebtedness, or any defect, lien or encumbrance not excepted or excluded in this policy, 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 force 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 shalt 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 loss or destruction
This policy does not insure against Loss or damage by reason of the following: shall be furnished to the satisfaction of the Company; provided, however, if the
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 g. 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 saris.
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
by this policy and not shown by the public records, unless disclosure thereof in (a) In the event that a partial losr 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
4. DEFENSE AND PROSECUTION OF ACTIONS— to the sum of the amount of this policy and the amount expended for the improve,
NOTICE OF CLAIM TO BE GIVEN BY THE INSURED ment. The foregoing provisions shall not apply to costs and attorneys' fees in-
curred by the Company in prosecuting or providing for the defense of actions or
(a) The Company, at its own cost and without undue delay shall provide (1) proceedings, in behalf,of the Insured pursuant to the terms of this Policy or to
for the defense of the Insured in all litigation consisting of actions or proceedings costs imposed on the Insured in such actions or proceedings, and shall apply only
commenced against the Insured, or defenses, restraining orders,or injunctions inter- to that portion of losses which exceed in the aggregate ten per cent of the face of
posed against a foreclosure or site of the mortgage and indebtedness covered by the policy.
this Dolicy or a sale of the estate or interest in said land; or (2) for such action as Provided, however, that the foregoing coinsurance provisions shall not apply
may be appropriate to establish the title of the estate or interest or the lien of the to any loss arising out of a lien or encumbrance for a liquidated amount which
mortgage as insured, which litigation or action in any of such events is founded existed on the date of this policy and was not shown in Schedule B; and provided
upon an alleged defect, lien or encumbrance insured against by this policy, and may further, such coinsurance provisions shall not apply to any loss if, at the time of
pursue any litigation to final determination in the court of last resort. the occurance of such loss, the then value of the premises, as so improved, does
(b) In case any such action or proceeding shall be begun, or defense inter- not exceed one hundred twenty per centum of the amount of this policy.
posed, or in case knowledge shall come to the Insured of any claim of title or (b) If the land described or referred to in Schedule A is divisible into separate
interest which is adverse to the title of the estate or interest or lien of the mortgage and noncontiguous parcels, or if contiguous and such parcels are not used as one
as insured, or which might cause loss or damage for which the Company shall or single site, and a loss is established affecting one or more of said parcels but not
may be liable by virtue of this policy, or if the Insured shall in good faith con. all, the loss shall be computed and settled on a pro rata basis as if the face amount
tract to sell the indebtedness secured by a mortgage covered by this policy, or, if of this policy was divided pro rata as to the value on the date of this policy of each
an Insured in wood faith leases or contracts to sell, lease or mortgage the same, or separate independent parcel to the whole, exclusive of any improvements made
if the successful bidder at a foreclosure sale under a mortgage covered by this policy subsequent to the date of this policy, unless a liability or value has otherwise been
refuses to purchase and in any such event the title to said estate or interest is re- agreed upon as to each such parcel by the Company and the Insured at the time of
jected as unmarketable, the Insured shall notify the Company thereof in writing, the issuance of this policy and shown by an express statement herein or by an
If such notice shall not be given to the Company within ten days of the receipt of endorsement attached hereto.
process or pleadings or if the Insured shall not, in writing, promptly notify the 10. SUBROGATION UPON PAYMENT OR SETTLEMENT
Company of any defect, lien or encumbrance insured against which shall come to
the knowledge of the Insured, or if the Insured shall not in writing promptly notify Whenever the Company shall have settled a claim under this policy, all right
the Company of any such rejection by reason of claimed unmarketabdity of title, then of subrogation shall vest in the Company unaffected by any act of the Insured,
all liability of the Company in regard to the subject matter of such action, pro. and it shall be subrogated to and be entitled to all rights and remedies which the
reeding or matter shall cease and terminate; provided, however, that failure to notify Insured would have had against any person or property in respect to such claim
shall in no case prejudice the claim of any Insured unless the Company shall be had this policy not been issued If the payment does not cover the loss of the In.
actually prejudiced by such failure and then only to the extent of such prejudice. sured, the Company shall be subrogated to such rights and remedies in the propor-
(c) The Company shall have the right at its own cost to institute and tion which said payment bears to the amount of said loss. If loss should result from
p Y g prosecute any act of the Insured, such act shall not void this policy, but the Company, in
any action or proceeding or do any other act which in its opinion may be necessary that event. shall be required to pay only that part of any losses insured against
or desirable to establish the title of the estate or interest or the lien of the mortgage hereunder which shall exceed the amount, if any, lost to the Company by reason
as insured; and the Company may take any appropriate action under the terms of of the impairment of the right of subrogation. The Insured, if requested by the
this policy whether or not it shall be liable thereunder and shall not thereby concede Company, shad transfer to the Company all rgihts and remedies against any person
liability or waive any provision of this policy- or property necessary in order to perfect such right of subrogation, and shall permit
(d) In all cases where this policy permits or requires the Company to prosecute the Company to use the name of the Insured in any transaction or litigation involving
or provide for the defense of any action or proceeding, the Insured shall secure to such rights or remedies,
it the right to so prosecute or provide defense in such action or proceeding, and If the Insured is the owner of the indebtedness secured by a mortgage covered
all appeals therein, and permit it to use, at its option, the name of the Insured for by this policy, such Insured may release or substitute the personal liability of any
such purpose. Whenever requested by the Company the Insured shall give the debtor or guarantor, or extend or otherwise modify the terms of payment, or release
Company all reasonable aid in any such action or proceeding, in effecting settle. a portion of the estate or interest from the lien of the mortgage, or release any
ment, securing evidence, obtaining witnesses, or prosecuting or defending such collateral security for the indebtedness, provided such act does not result in any
action or proceeding, and the Company shall reimburse the Insured for any expense loss of priority of the lien of the mortgage.
so incurred. 11. POLICY ENTIRE CONTRACT
S. NOTICE OF LOSS—LIMITATION OF ACTION Any action or actions or rights of action that the Insured may have or may bring
In addition to the notices required under paragraph 4(b),a statement in
writing against the Company arising out of the status of the lien of the mortgage covered
of any loss or damage for which it is claimed the Company is liable under thigs by this policy or the title of the estate or interest insured herein must be based on
the provisions of this policy.
policy shall be furnished to the Company within sixty days after such loss or damage No provision or condition of this policy can be waived or changed except by
shall have been determined and no right of action shall accrue to the Insured under writing endorsed hereon or attached hereto signed by the President,a Vice-President,
this policy until thirty days after such statement shall have been furnished, and no the Secretary, and Assistant Secretary or other validating officer of the Company,
recovery shall be had by the Insured under this policy unless action shall be com- 12. NOTICES, WHERE SENT
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 All notices required to be given the Company and any statement in writing
time hereinbefore specified, shall be a conclusive bar against maintenance by the required to be furnished the Company shall be addressed to it at the office which
Insured of any action under this policy. issued this policy.
TI 12