3885 ~ 72nd Avenue ~ 68th Parkway 1r, Tin E iNs,, ANNE
1\11PANY
Number: 5 (SST 68-1)
3885
Deed Reference:B 535, P. 437
KNOW ALL MEN BY THESE PRESENTS: That we (I) George F. Paulsen and Haldis____
M. Paulsen, husband and wife, as vendors and Oregon Education Association
as purchasers under contract
/ 0a
hereinafter termed grantor(s), in consideration of the sum of $ / 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:
I. 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
XDCX?iaXXXIL XXf16]id X,OUDOCMIC XXXOC CfE{IIl { £3610:50
following designated premises:
A strip of land 15 feet in width in the S. E. Xi of Section 36,
T1S, R1W. , W.M. Washington County, Oregon, said strip being
7. 50 feet on each side of the following described centerline:
Beginning at the northwest corner of Parcel I, as the same
is described in that certain contract of sale, made December 28,
1964, between George G. Paulsen, vendor, and Oregon Education
Association, purchaser, and recorded in Book 535, Page 437 in
the records of said county; thence South 00 29' 10" East along
the east line of S.W. 72nd Avenue a distance of 274.87 feet
to the true point of beginning of the centerline herein described;
thence from said true point of beginning South 90° 00' East 218. 13
feet to an angle point; thence South 820 21' 30" East 265.47 feet
to an angle point; thence North 44° 08' 40" East 284. 29 feet to
an angle point; thence North 49° 56 ' 30" East 295. 98 feet to a
point on the North line of the George F. Paulsen tract as the
same is described in that certain deed recorded October 14, 1955,
in Book 374, Page 576, in the deed records of said county, which
point is also 149.2 feet East of the Northwest corner of the said
Paulsen tract, said point being also the Northerly terminue of the
herein described centerline, it being understood that each side
of the said 15 foot wide strip shall extend or shorten so as to
intersect the same limiting lines as does the centerline. Being
limited to that portion lying within the boundaries of that tract
described as Parcel I and Parcel tiiin contract from George F.
Paulsen and Haldis M. Paulsen, husband and wife, as vendors to
Oregon Education Association as purchasers and recorded in Book 535 ,
Page 437, Washington County, Oregon, Records.
2. Temporary easement:
Together with the temporary right of ingress, egress and regress, and use for sewer construc-
tion purposes, of additional lands lying parallel to, along both sides and within 17- 5 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 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. p
BOOK 720 PAGE 8I 2
4 'how' Vol+
I.+
4
f
k
i
4
Itk
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.
Witness our hands a'• seals this / _—day of-__-.62:e___ ___-' 19_w'
27i././
AA
/ = — —(SEAL) _ :;__ 4 — (SEAL)
Oregon E1----
__
c=tion�a , .ci tion
-c!t=A ; l (SEAL) -
- — (SEAL)
e r F. Pain
7:—' ,6-e--1'&—*//: (SEAL) — — (SEAL)
Haldis M. Paulsen
For a consideration, the mortgage lien on the above described properties is hereby made subordinate to the
ft.
easements above granted,
•.K ft Dated this—_ _day of —, 19
it
d
ik
Mortgagee
,. By
Title
STATE OF OREGON, )
Countyof �O o f-f __ ) ss.
--��--�
i-/ / 19_ __
r'
On this____�_—day of __, f _. , personally appeared the above named
"< / 2:'eS� f� / .s uJG'67%t../ 7 'Cep+_ ;i^ /,-'ot is e,-, :. !=t' /7' /'fe //• ,'• -
/
and acknowledged the foregoing instrument to be their voluntary act and deed.
Before me:
_7/2- ,./.?7,.----- ,
Notary Public for Oregon
ens
My Commission expires: /710,, i/P)0/7
BOOK 720 PAGE®13
lif
'MOO' Niftioi
. ....
, .
FORM NA. 24—ACK NOW LEI/GWENT 4,.., .ORATION.. • STEVENS NESS LAW P • ..', , ,,,, .',A 4 ,,,, ,,1
STATE OF OREGON, 1 3885
r '• Ss.
,
before me appeared A' -4" , ' ..,, . ., if. ,. ... .,.... __,....-nt: /&..(j''L".-„‘-..!
.. ti
both to personally known, who being
duly sworn, did say that he, the said „A'- ' ....5,-,,, ?,- ..
is the President, and he, the said e- <-' /L),,,,,,,/, / 51
is the Secretary . of c"."9,"e;,--,,,- 7 -,....- t..... .......L,.,,...,, .. ,
1 , .
the within named Corporation, and that the seal affixed to said instrument is the corporate seal of said Corpora-
tion,
'
and that the said instrument was signed and sealed in behalf of said Corporation by authority of its Board
of pirectors, and and .
cichovollercigerf said instrument t, , 114, ihefree act and deed of said Corporation.
IN' TESTIMONY WHEREOF, I have hereunto_set my hand and affixed
. .-
my official seal the day apd year last above written.
. , . . .. ,/ --
,
• ,,, I„' ,, 1 k ' : ,
' .
Notary Public for Oregon.
My Commission expires , ,//4.,..,.//y7/
OF
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PERPETUALL EASEMENT
TEMPORARY EASEMENT
{ !/ _
ROGER I x 06,1SS,L. , Dixt ro,r, T,
Ps Elections
.ea..nrne
�,
1/-rt
3885
A r
41)
STATE OF 0 ON �1
County of Washington ss
I, 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. 72r4
of said County
.-01116
Witness my hand and seal affixed.
ROGER THOMSSEN,Director of
-< 111 Records&_Elections
Deputy
c
< OCT 14 1968 :03 P�
co
•
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•
•
T /
ate 11,44.444.4e
•
• 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.312735 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.
RINCFCountersigned 1lTITLE INSURANCE
COMPANY
i ÷ ••.•.•.• )
••• .• 0tiBYY�Iad
,
inockpO/Z4� President
—
Authorized Officer % •
• :• Attest:
PAGE 1 OF POLICY �/ ••.• •• Secretary
REV.7-63 Irl •••••.••
TI-21 �',i01\EG
\\°
Ji
SCHEDULE A
Amount $ 1,000.00 Date October 14, 1968 At 3 : 03 P.M.
INSURED
---THE CITY OF TIGARD---
easement
The fee simple title to said taa is, 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:
A strip of land 15 feet in width in the Southeast 1/2 of Section 36,
Township 1 South, Range 1 West, Willamette Meridian, Washington County,
Oregon, said strip being 7.50 feet on each side of the following desc-
ribed centerline:
Beginning at the Northwest corner of Parcel I, as the same is
described in that certain contract of sale, made December 28, 1964,
between George G. Paulsen; vendor, and Oregon Education Association,
purchaser, and recorded in Book 535 , Page 437 , in the records of
said county; thence South 0°29' 10" East along the East line of
S. W. 72nd Avenue a distance of 274.87 feet to the true point of
beginning of the centerline herein described; thence from said
true point of beginning South 90°00' East 218. 13 feet to an angle
point; thence South 82°21' 30" East 265.47 feet to an angle point;
thence North 44°08' 40" East 284.29 feet to an angle point; thence
North 49°56' 30" East 295.98 feet to a point on the North line of the
George F. Paulsen tract as the same is described in that certain deed
recorded October 14, 1955, in Book 374, Page 576, in the deed records
of said county, which point is also 149.2 feet East of the Northwest
corner of the said Paulsen tract , said point being also the Northerly
terminue of the herein described centerline, it being understood that
each side of the said 15 foot wide strip shall extend or shorten so as
to intersect the same limiting lines as does the centerline. Being
limited to that portion lyin within the boundaries of that tract desc-
ribed as Parcel I and Parcel III in contract from George F. Paulsen
and Haldis M. Paulsen, husband and wife, as vendors, to Oregon Ed-
ucation Association as purchasers and recorded in Book 535 , Page 437,
Washington County, Oregon, Records.
TEMPORARY EASEMENT:
Together with the temporary right of ingress, egressand regress, and
use for sewer construction purposes of additional lands lying parallel
to, along both sides and within 17.5 feet, when measured at right
angles, of the above described perpetual easement area.---
PAGE 2 OF POLICY NO. 312735
TI 28
.
Oregon Land Title Association iWIY0'
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 part of the herein described
premises lying within the boundaries of roads and highways.
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.
8. Easement, including the terms and provisions thereof, from
Portland General Electric Company, an Oregon corporation, to George
F. Paulsen, recorded February 17 , 1964, in Deed Book 506, Page 347.
9. Easement, including the terms and provisions thereof, granted
to Portland General Electric Company, an Oregon corporation, recorded
February 17, 1964, in Deed Book 506, Page 359.
10. Easement, including the terms and provisions thereof, granted
to Oregon Education Association, recorded November 1, 1967, in Book
666, Page 493, Washington County Records.
11. Interest of Oregon Education Association, an Oregon non-profit
corporation, vendee, as purchaser under contract, including the terms
and provisions thereof, executed by George F. Paulsen, vendor, dated
December 28, 1964, recorded December 28, 1964, in Book 535, Page 437,
Washington County Records. (Affects other property also. )
12. Easement , including the terms and provisions thereof, granted to
The City of Tigard, a municipal corporation of Oregon, dated July 12 ,
1968, recorded October 14, 1968, in Book 720, Page 812 , Washington
County Records.---
Page 3 of Policy No. 312 7 3 5
TI-30
•
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 in
(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
improvements affixed thereto which by law constitute real property; policy,or, in case loss is.claimed under this policy by the owner of the indebtedness
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
(d) "date": the effective date; by the Insured, the Company offers to purchase said indebtedness, the owner of
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
If an insured owner of the indebtedness secured by a mortgage described in within a reasonable time after receipt of such notice, or (2) for liability voluntarily
asSchedule B acquires said estate or interest, or any part thereof, by foreclosure, Company,
, the Insured in settling any claim rejectedor suitas withoutm unwrmarketentable
consent of the
trustee's sale, or other legal manner in satisfaction of said indebtedness, or any Company, or (3) in the eventnthe title isexcluded u this policy, untillae of a
part thereof, or if a federal agency or instrumentality acquires said estate or interest, defect,elien or encumbranceenot excepted or in s policy, there has
or any part thereof, as a consequence of an insurance contract or guaranty insuring been a final determination by a court of competent jurisdiction sustaining such
rejection.
or guaranteeing the indebtedness secured by a mortgage covered by this policy, or
any part thereof, this policy shall continue in force in favor of such Insured,agency ian All payments shall under reducethis thepamount except payments made for costs, attorneys'pay-
es and expenses, tproducing thisof thefor insurancedorpro tantooand a pay-
or instrumentality, subject to all of the conditions and stipulations hereof. ment shall be made without this policy 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 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 tide to streets, roads, avenues, lanes, way or waterways on which 8. 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 satis-
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 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 to the date of this subsequent
this policy; or '3) resulting in no loss to the Insured Claimant; or (4) attaching q policy, and only in that event, the Insured
or created subsequent to the date hereof. becomes a coinsurer to the extent hereinafter set forth.
(e) Loss or damagewhich would not have been sustained if the Insured were If the cost of the improvementof exceeds twenty per centum of the amount of this
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 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.
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 d faith leases or contracts to sell, lease or mortgagethe same, orseparate independent parcel to the whole, exclusive of any improvements made
if the successful bidder at a foreclosure sale under a mortgage covereby 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
jetted as marketable, 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 Whenever the Company shall have settled a claim under this policy,
the knowledgCompany of the Insured, or if the Insured shall not in writing, protlytitle,
,then of subrogation shall vest in the Company unaffected by any act of the Ill nsured,
the Company oaey suchm rejectionngy reason of subjedct u fbiucy of title,then and it shall be subrogated to and be entitled to all rights and remedies which the
all liability of the Company in regard to the subject matterof such action, pro- g g
ceeding 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.
actuallyprejudiced 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 proper-
. (c) The Company shall have the right at its own cost to institute andprosecute non which said payment bears to the amount of said loss. IE loss should result from
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 necessaryin order to
(d) In all cases where this policyp p Y perfectnsrsd in right transactionosubrogation,oand shallin olving
permits or requires the Company Co prosecute the Company to use the name of the Insured any 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
In addition to the notices required under paragraph 4(b),a statement in writing byagainst 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 this the this cy or the titlepof the estate or interest insured herein must be based on
policy shall be furnished to the Company within sixty days after such loss or damage provisions of this policy.
No provisiondor conditionor f this policy can be waiveds or changed, eby
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
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 hereinbef ore 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