3727 ~ 68th Parkway TITLE INS- vA6t COMvMrAf '
3727
Number: 6 (SST 68-1)
Deed Reference: Bk 380 Pg. 235
ts-
KNOW ALL MEN BY THESE PRESENTS: That we (I) Cornelius & Eva Millers Husband
and wife as tenants in the entirety.
ec
hereinafter termed grantor(s), in consideration of the sum of $ 45)7- - to be paid by
CITY OF TIGARD, a municipal corporation of Oregon, hereinafter 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 easement, for the following uses and purposes:
1. Perpetual easement:
An unencumbered perpetual right-of-way and easement for the purpose of constructing, recon-
structing, operating, maintaining, inspecting and repairing of an underground sewer line and
appurtenances, together with the right to remove, as necessary, vegetation, foliage, 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 and purposes of the easement; said easement area being-n-
feet on each side, when measured at right angles, of the following described center line within the
following designated premises:
Beginning at a point on the Southerly line of that tract of
land conveyed to Cornelius Miller and Eva Miller, and described
in Book 380, Page 235, deed records, Washington County, Oregon,
re, said point being Westerly 711 feet from the Southeast corner
of said Miller tract; thence Northerly parallel to the east
line of said tract 173 feet to a point; thence Northeasterly
to a point on the Easterly boundary of said tract, said point
being 180 feet North of the Southeast corner of said Miller
tract. Being limited to that portion lying within the boundaries
of that tract described in deed to Cornelius Miller and Eva Miller
in Book 380, Page 235, Deed records, Washington County, Oregon.
2. Temporary easement:
Together with the temporary right of ingress, egress and regress, and use for sewer construc-
the Westerly and Northerly
tion purposes, of additional lands lying parallel to, atg7bitkxbto dCI4 C- 3.5---meet,
when measured at right angles, of the above described perpetual easement area, excepting and
reserving to grantors the unencumbered enjoy ment, use and preservation of all structures
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.
900K 720 PAGE 529
3727
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 work manlike 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 work manlike 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.
rs•
Witness our hands and seals this_ 6:k 1. day of , 19 O`- —
(SEAL) — --- (SEAL)
Lam_
Cornelius Miller
,..� , G i•{_._, � '�. (SEAL) -- (SEAL)
Eva Miller
--(SEAL) -- — --- —(SEAL)
For a consideration, the mortgage lien on the above described properties is hereby made subordinate to the
easements above granted,
Dated this__ —_day of--_ —_— , 19 —.
Mortgagee
By — ---
Title
STATE OF OREGON )
) ss.
County of d', , )
On this i ___day of_ i —, 19 ' , personally appeared the above named
and acknowledged the foregoing instrument to be their voluntary act and deed.
Before me:
• j"/ice
Notary Public for Oregon
, , fir
My Commission expires: /
ROOK 720 PAGE 530
do 3727
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-44
STA*1 OREGON
ss
County 4Aashington
I, Roger Thomssen,Director of Records and
Elections and Ex-Officio Recorder of Conveyances
for said cot+nty, do hereby certify that the within
instrument of writing was received and recorded
in book of records 'n
No. 70
of said County
Witness my hand and seal affixed.
ROGER THOMSSEN,Director of
Records&Elections
(P&P
ici I 3,60 Eli t fl�
T /
/° I Tte , cf, 6i
425 S.W. Fourth Avenue/ Portland, Oregon
WASHINGTON COUNTY OFFICE Phone 222-3651
526 N.W. CANYON ROAD • BEAVERTON, OREGON
TELEPHONE 646-8181
POLICY OF TITLE INSURANCE
Oregon Land Title Association
Standard Coverage Policy
No. 312737 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 title 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
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.
\\\\\\\\\\>>1
Countersigned TITLE INSURANCE COMPANY
vRANCE 1111 ''JJ
;(4.. p,
/• ( o
�;[(� •' �FtPOF 4?••4:1;/� President
f t� �. �.yy��++ ..��oo � Attest: j
�1 aib dt �O �`��
Authorized Officer
• Secretary
PAGE 1 OF POLICY 10 •'•........
R •'�
TI-211.1
7 63 ,V. 1+11`'t\\\•�O
1]
SCHEDULE A
Amount $ 1, 000.00
Date October 11, 1968 At 3: 00 P.M.
INSURED
---THE CITY OF TIGARD---
easement
The fee simple title to saidAxothis, at the date hereof, vested in
THE CITY OF TIGARD, a municipal corporation of Oregon.---
The land referred to in this policy is described as:
PERPETUAL EASEMENT:
Beginning at a point on the Southerly line of that tract of land
conveyed to Cornelius Miller and Eva Miller, and described in Book
380 , Page 235 , deed records , Washington County Oregon, said point being
West 7-1/2 feet from the Southeast corner of said Miller tract; thence
Northerly parallel to the east line of said tract 173 feet to a point;
thence Northeasterly to a point on the Easterly boundary of said tract ,
said point being 180 feet North of the Southeast corner of said Miller
tract . Being limited to that portion lying within the boundaries of
that tract described in deed to Cornelius Miller and Eva Miller in
Book 380, Page 235 , Deed Records, Washington County, Oregon.
TEMPORARY EASEMENT:
Together with the temporary right of ingress , egress and regress, and
use for sewer construction purposes of additional lands lying parallel
to the Westerly and Northerly 35 feet, when measured at right angles ,
of the above described perpetual easement area.---
PAGE 2 OF POLICY NO. 312737
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. Tigard City Liens , if any.
6. Rights of the public in and to that Portion of the herein described
premises lying within the boundaries of roads and highways .
7 . Easement, as disclosed in deed , including the terms and provisions
thereof, granted to John A. Deas , dated July 25 , 1945 , recorded July
27 , 1945 , in Deed Book 246, Page 469.
8. Easement , including the terms and provisions thereof, granted to
The City of Tigard , a municipal corporation of Oregon , dated July 22,
1966, recorded October 11, 1968, in Book 720, Page 529, Washington
County Records.---
Page 3 of Policy No. 312 7 3 7
TI-30
A 9 la 10
THIS AORENKIMT, made and entered into this day et
November, 1969, by and between COSNELIUS C. KELLU and NWA L. NILLI1.
husband and wife, hereinafter referred to as the "Millers".
NSW
LOUIE, hereinafter referred to as "Louie", and NI-NAT, INC. . an
Oregon corporation, hereinafter referred to as the `Corporation.:
II ! itiIILit $ ![ 1
WHINERS, the Killers have heretofore on the 10'th day of
July, 1969, entered into an agreeeent for the purchase and sale of
,F
the following described real property: ,ar'
4
beginning at a point in the West line of the Northeast 1
Quarter of the Southeast Quarter of Section 36, Township
South, Range 1 west of the Willamette Meridian. which "
point is 659.05 feet North of the Southwest corner of said .
Northeast Quarter of the Southeast Quarter: thence North wow
on the said West line 475 feet: thence last 95.2 feet:
thence North 435 feet, more or less, to the County hoed
(know* as West Side Pacific highway) : thence North 53012'
last along said road 80 feet. wore or lees, to the West:
line of 20-foot roadway heretofore conveyed to Yred btu
thence South along the West line of said right of may and
the West lime of the Drucker tract 963 feet, more or leis.
to a point due east of the place of beginning; themes set
159.2 feet to the place of beginning, in Washingtsa Coo:sty.
Oregon. 04
said contract being recorded in book 751. Page 663, of the Deed
`
Records of Washington County, Oregon; and
WNEt2AS, the Corporation desires to secure the right to
use a portion of said property for the purpose of constructing
appurtenances to a building being constructed by the Corporation oa
on property being purchased by it immediately contiguous to the
property hereinabove described: and t ;
WHIMS, the Millers. and Louie are agreeable to the .`
Corporation using a portion of the above described real property
for the purposes desired by the Corporation:
NOW, TNEREFORE, it is hereby agreed as follows:
The Killers and Louie do hereby grant, assign and set
over unto the Corporation a temporary easement to be used by the
Corporation for the purpose of constructing appurtenances to the
1.
d
•
building being constructed by the Corporation on the property
_,minediately adjoining to the east of the above described property,
((
said easement described as the West Eight (8) feet of the above
described property under contract of sale by the Millers to Louie,
beginn:..ng at the County Road (known as West Side Pacific Highway) ,
then south for a distance of 435 feet.
It is mutually understood and agreed between the parties
hereto that said easement is granted upon the condition that Louie
perform all the terms and conditions and make the payments as
stipulated under the aforementioned contract of July 10, 1969, and
upon the failure ;. f Louie to so do or to be in default in any of
the terms and conditions thereof, this easement may be cancelled,
terminated and held for naught. In such event, the Corporation,
upon notice, agrees to remove any structure, or portion of any
structure, placed thereon.
The Corporation here y acjr'ees to o to duo save the
Millers and Louie harmless from any and all claisls or lama es
(.'--
oto j a t *o' n e y rJ
arising from its use of the easement herein yrantea'ancagiees tc ; ces & 1st
pay any damage or damages which may arise to the property , premises,
iocludino attorney ' . `.'ees & ost
or rights of the tdillere and Louie /through the Corporation's use,
occupancy and possession of the rights herein granted.
IN WITNESS WHEREOF, the parties hereto have hereunto
set their hands the day and year first herein written.
Cornelius C. Miller
Eva L. Miller
r. 4
M Henry Louie
HI-HAT, INC. , an Oregon corporation
By
Secretary
2.
S'IW7E Ok OREGON
/ • ,„ ) ss.
Cc,,w1ty of November 1969
Personally appeared the above-named CORNELIUS C. MILLER
:AILL.E . and aoknowleaued the roregoing ins--rumen,.. to be
a ..1 deed.
tLL l :
•
..„ • ,
07..a Public f Oregoin.
Ay Oommission
STAt
County f ta
November ./ 1969
ov -named Ul au
acknowledger_:: the : Ircr.joing to be is Iv.)lantary act and
deed.
A
PUL)1L Ot Argo ' / )
STATE
) ss.
County of Mui nth ) Novier 1969
appeared LOUIE, who, beLng duly sworn,
did say that eIs ti- e iecretary the seal
affixed to the inscrent is the corporat
corporation and that raid instrument ,474s signed an,, ,,,ealed in
behalf of (7r,ratti%)n Oy authurlty ,f its Us2;AL Cf ,771teCLOXS;
and he aoknowledyed said instrament tc, be its voluntary Let, and deed.
* tore 71e :
/•77
, •.,: t 2.1 (-
. otary Public for Oregon
My Commission -.;:xpires :
3.
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)
I. DEFINITION OF TERMS 6. OPTION TO PAY,SETTLE OR COMPROMISE CLAIMS
The Company shall have the option to pay or settle or compromise for or in
The following terms when used in this policy mean: 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 loss 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 urchase ment of the
full amount ofdthis dsuchebtedness;
policy, together hpurchase,
all costs, tenderayment or
s,attorney'sf esand of expenses which
relating to said land; he Company is obligated hereunder to pay, shall terminate all liability of the Com-
(c) "knowledge": actual knowledge, not constructive knowledge or notice which
pany hereunder. In the event, after notice of claim has been given to the Company
may be imputed to the Insured by reason of any public records; 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 harem 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 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 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 loss 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 insured owner rof the indeb ed essed by this policy hsecured by all tsuch mortgage,ofe all liability exceptas providedt in
e
parcel of land. em_ domain unlessparagraph 2 hereof.
the exercise of such rights appears int cethepower publicor reco dse att the date hereof,nonce of (e) When liability has been definitely fixed in accordance with the conditions of
this policy the loss or damage shall be payable within thirty days thereafter.
(c) Title to any property beyond the lines of the land expressly described in
Schedule A, or title to streets, roads, avenues, lanes, way or waterways on whg LIABILITY NONCUMULATIVE
ich
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 satis-
loss or at the or (2)such
nto the Inantea Claimant eitherstaat 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 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. Co hpanysuas
one the hundred
ount twenty
this ppelcyr centuand the amount m of the amount
of hiis policyts bears
ar
to
NOTICE OF CLAIM TO BE GIVEN BY THE INSURED
4. DEFENSE AND PROSECUTION OF ACTIONS— merit. 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 sale of the mortgage and indebtedness covered by the policy.
this policy 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.
b If the land described or referred to in Schedule A is divisible into separate
posed, or in case knowledgeerseotheshall of the to ate Insured interest any claim of otirt, or ( )
interest which is adverse to title of estate or 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 thipolicy wast divided po to
ahaas to whole,value ovethe date of thishpolicy of eacan h
Insured ind faith leasesor contracts to sell, lease or mortgage the same, or separate independent parcelr
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 ofanyalue has otherwise been
agreed upon as to each such parcel by the Company and the Insured at the time of
refuses to nmarket and inany suchrevent the ytitlt to said Companyestthereofe or interest is re- g P anexpressor an
jetted as unmarketable, the Insured shall notify the in writing the issuance of this policy and shown by statement herein by
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 Whenever the Company shall have settled a claim under this policy, all right
the knowledge of the Insured, or if the Insured shall not in writing, promptly notify of subrogation shall vest in the Company unaffected by any act of the Insured,
the Company of any such rejection by reason of claimed unmarketability of title, then and it shall be subrogated to and be entitled to all rights and remedies which the
all liabilityngor the Company inregardrmsto the subject however,eer thatof suchfai action, pro- Insured would have had against any person or property in respect to such claim
ceeding no mattersprejudice ces,and terminate; prInsuredovided, unlssthe Companyane tos notify had this policy not been issued. If the payment does not cover the loss of the In-
actuallyainrcase bys the claim of any y unless shad be sured, the Company shall be subrogated to such rights andremedies in the propor-
tion prejudiced by such failure and then only to the extent of such prejudice. which said payment bears to the amount of said loss. If loss should result from
(c) The Company shall have the.right at its own cost to institute and 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, shall 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
5. NOTICE OF LOSS—LIMITATION OF ACTION Any action or actions or rights of action that the Insured may have or may bring
against the Company arising out of the status of the lien of the mortgage covered
In addition to the notices required under paragraph 4(b),a statement in writing by this policy or the title of the estate or interest insured herein must be based on
of any loss or damage for which it is claimed the Company is liable under this 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-
menced thereon within five years after expiration of said thirty day period. Failure All NOTICES,nIces required to the and in
to furnish such statement of loss or damage, or to commence such action within the required to be furnished the be givenny shall Companybe addressednany it at statemente office writingicg
time hereinbefore specified, shall be a conclusive bar against maintenance by the issued this policy.
Insured of any action under this policy.
TI 12