726 ~ 98th Avenue ~ Greenburg Road I1Sp" .4:t t 1MPANYt,
Prod :SSL 32. 3
-- / 726 Easement: T - 3
Deed Reference: B 284 , P 69
KNOW ALL MEN BY THESE PRESENTS: That we (I) Irwin P. & Dolores
aearnsp
4 hereinafter termed grantor (s) , in consideration of the sum of $ 44 .50
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
on TIGARD a ,perpetual right-of-way and easement as hereinafter described, to-
gether 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, reconstructing, 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 feet-en-eaeh-siele;-when-measured
a�-�}gY��-ar�g�esT-e€-the-fa��ew�n�-�ese��bed-een�e�-��ne-w��h�n-�he-
€eilew ag-Elesignated-premises:
A portion of that tract of land in Section 35 T1S, R1W, W.M. ,
Washington County, Oregon conveyed to Irwin P. and Dolores
Gedrose in Book 284 , Page 69 , Deed records of said Washington
County, more particularly described as follows:
The Southerly 15 feet of said Gedrose tract.
2. Temporary easement:
Together with the temporary right of ingress, egress and regress,
and use for sewer construction purposes, of additional lands
North
lying parallel to, along the/sides and within 35 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.
ROOK 763 ?AGF 493
Page 1
Easement
I
STATE OF OREGON f
. ) ss.
County of )
On this day of , 19 , personally
appeared the above named
and acknowledged the foregoing instrument to be their voluntary act and
deed.
Before me:
Notary Public for Oregon
My Commission expires :
ACCEPTANCE
The City above named hereby accepts the foregoing grants and agrees
to comply with each and every term and condition thereof.
CITY OF TIGARD
By:_ 4.7.Sy---.1
Mayo
By: jic=1-7,4�0 ytCity Recorder
STATE OF OREGON )
) ss.
County of Washington )
On this 17th day of Nnmemher , 196 9 , before me
appeared Elvin G. Kyle and Doris Hartig ,
both to me personal y known who, being duly sworn, did say that he, the
said ;lvir G- Kyle is the Mayor, and he, the said Doris Hartig
is the Recorder of the CITY OF TIGARD, a municipal
corporation, and the saidElvin G. We and Doris Hartig
acknowledged the said instrument to be the free act and deed
of said municipal corporation.
IN TESTIMONY WHEREOF, I have hereunto set my ha, and affixed my
official seal, this the day and year in t cert, ° icate first written.
Notary Public for Oregon
r%
My commission expires
Page 3
Easement
•
c+wrr+'
•
•
720
Should it be necessary to cut and remove any brush, trees , or other
matter or materials from the easement area, said brush, trees, or other
matter and materials shall be removed and disposed of by the City and the
City shall leave the easement area in a neat and workmanlike condition. The
City agrees that in connection with its use of the perpetual easement area
and in inspecting, repairing, maintaining, or replacing said sewer line, the
City will leave the premises in a neat and workmanlike condition and as nearly
in the pre-existing state as practicable.
The grantors do hereby warrant that they are the owners in fee simple
and have the right to grant the above described easements .
Witness our hands and eals this Z day of )00 -^-4T
mow- (SEAL) (SEAL)
;� / SEAL)
�..� �.. (SEAL)
_ (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 = f
On this /4 day of 1 e4e, , 1a , personally
appeared the above named427;.,,:,, /a/
and acknowledged the foregoing instrument to be their voluntary act and deed.
Before me:
,//e
110. -401,
ary Public for Oregon
My Commission expires : 4744,
Page 2
Easement 763 ROA
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444t4440
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' STATE OF OREGON
County of Washington ss�(/ ce� COOK 763 GE495
®®® i
I, Roger Thomssen, Director of �,.
and Eections and Ex-Officio Recorder of Con- - `I
�eyances for said county, do hereby certify \�`..•r ; `� `` � i- rq inc.
that the within instrument of writing was f YORTLA
``>; zr'`t ='�
received and recorded in book of records OREGON SEA7n..E.,A'ASH.NDTCN '
No. - - ,Z,3___ i
of said County
Witness my hand and seal affixed.
ROGER THOMSSEN, Director of
Records & E}ections
7kth
Nov 24 2 39 f h '69
•
TO
/ I TZUe11,4444m"a eem+evpsy ' p: 1
•
425 S.W. Fourth Avenue/ Portland, Oregon �F
Phone 222-3651 6`y
POLICY OF TITLE INSURANCE
Oregon Land Title Association
Standard Coverage Policy
No. 316062 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
are hereby made a part of this policy.
In witness whereof, TITLE INSURANCE COMPANY has caused its corporate name and seal to be hereunto
affixed and authenticated by the facsimile signatures of its President and Secretary, provided this policy is valid
only when countersigned by a duly authorized officer of the corporation.
`RANxx ILII TITLE INSURANCE COMPANY
Countersigned � 1
.' •••..•••••• 011 00
•—•
By y/..
r
••CO POR,g T �io President
Authorized Officer f' +•� Z Attest: 6:5
• •
• r
PAGE 1 OF POLICY ��j •�: Secretary
REV.7-63 �� ......•
TI-21 ,+,'1l E °
3 3
SCHEDULE A
Amount $1,000.00 Date November 24, 1969 At 2:39 P.M.
INSURED
---CITY OF TIGARD---
easement
The fee simple title to said&a is, at the date hereof, vested in
CITY OF TIGARD, A municipal corporation of Oregon.--
The land referred to in this policy is described as:
PERPETUAL EASEMENT:
A portion of that tract of land in Section 35, Township 1 South,
Range 1 West, Willamette Meridian, Washington County, Oregon,
conveyed to Irwin P. and Dolores Gedrose in Book 284, Page 69,
Deed Records of said Washington County, more particularly desc-
ribed as follows:
The Southerly 15 feet of said Gedrose tract .
TEMPORARY EASEMENT:
Together with the temporary right of ingress, egress and regress,
and use for sewer contruction purposes, of additional lands lying
parallel to, along the North side and within 35 feet , when mea-
sured at right angles, of the above described perpetual easement
area.---
PAGE 2 OF POLICY NO. 316062
1128
•
Oregon Land Title Association -WrYi+ , 1
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 hut 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 desc-
ribed premises lying within the boundaries of roads and highways.
7. Easement , including the terms and provisions thereof, granted
to the City of Tigard, a municipal corporation of Oregon, dated
August 12, 1969, recorded November 24, 1969, in Book 763, Page 493.
Washington County Records.---
Page 3 of Policy No316062
TI-30
„Impop....... ,
SWO
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DEPARTMENT OF ii' •
,/t7z10.;-: ', .:.
VETERANS' AFFAIRS - 1/ ,..„
F'i i.i, •...._"01...„:„. :..!:.! NOfr 1 4.1
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CI I v 196,5
Ft: • -- 1 0,
FARM AND HOME LOAN DIVISION lava
GENERAL SERVICES BLDG. • 1225 FERRY STREET S.E. • SALEM, OREGON • 97310
TOM McCALL
GOVERNOR November 12, 1969
ADVISORY COMMITTEE
JAMES BARRETT
ARCH L. BREWSTER
RONALD DICKEN
LEONARD A. FORSGREN
t G.JOHNSON
JACK C. PLATO Mr. J hn Hagman
A. 0. SODERHOLM City of Tigard
GEORGE E.THOMPSON P. 0. Box 23557
04 C.SAALFELD Tigard, Oregon 97223
Director
L-1067 - GEDROSE, Irwin P.
The Irwin P. G-drose loan formerly hold by ' s ",,epartment
has been laid in full. Tho Der. rtment as hp further
Lnterest in tho property. Y ur legal In:7,trumert far an
easement 1: enclosed unexecuted.
- 7--- /
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,, ,, ,„ t Gz_e/:
E. F. ALTFOFF, 1,4nager
Sn
ocurity 3n, -rMent Unit
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title insurance
12012 S.W. Canyon Road/Beaverton, Oregon 97005
escrows
Phone 646-8181
HEAD OFFICE
425 S.W. FOURTH AVENUE
PHONE 222-3651
City of Tigard Order No. 316062
City 'Hall August 21, 1969
Tigard, Oregon
Re: Gedrose
Dear Sirs:
We are prepared to issue title insurance policy covering:
See EXHIBIT "A" attached
showing title on August 13 , 1969 at 5:00 o'clock P.M. , vested in:
IRWIN P. GEDROSE and DOLORES P. GEDROSE
an estate in fee simple
as tenants by the entirety
subject to the usual printed exceptions, and
1. Tigard City Liens, if any.
2. Rights of the public in and to that part of the herein described
premises lying within the boundaries of roads and highways.
3 . Mortgage, including the terms and provisions thereof, given by
Irwin P. Gedrose and Dolores P. Gedrose, husband and wife, to The
State of Oregon, represented and acting by the Director of Veterans
Affairs, pursuant to ORS 407.030, dated March 31, 1948, recorded
March 31, 1948, in Mortgage Book 213 , Page 261, to secure the
payment of $1, 500.00.
The above mortgage provides that no transfer of ownership of such
property shall be valid unless the conveyance contains a covenant of
the purchaser that he will assume and agree to pay said mortgage.
Note: 1968-69 taxes, $406.70, paid. (1S1 35CD 800 23-24)
TITTF INSURANCE COMPANY
Washington Co Branch
Q
C ames A. Parker
JP:d
Order No. 316062
EXHIBIT "A"
Beginning at an iron pipe from which the Southeast corner of Lot 4,
GREENBURG HEIGHTS , a subdivision of record, bears North 89°58' East
100.0 feet and South 0°03 ' East 180.0 feet ; thence North 0°03 ' West
parallel with the Fast line of said Lot 4 a distance of 181.8 feet to
an iron pipe on the Southerly line of a 60.0 foot wide dedicated
roadway; thence continuing North 0°03 ' West parallel with the East
line of said Lot 4 a distance of 31. 7 feet to the centerline of said
60.0 foot wide roadway and the Northerly line of said Lot 4 ; thence
North 71°15 ' West in the center of said 60.0 foot wide roadway and
on the Northerly line of said Lot 4 a distance of 125.7 feet to the
West line of a 30.0 foot wide dedicated roadway and the West line
of said Lot 4 ; thence South 0°03 ' Fast on the West line of said 30.0
foot wide roadway and the West line of said Lot 4 a distance of 256.0
feet ; thence North 89°58' Fast parallel with the South line of said
Lot 4 a distance of 30.00 feet to an iron pipe on the Fast line of
said 30.0 foot wide roadway; thence continuing North 89°58' East
parallel with the South line of said Lot 4 a distance of 89.0 feet
to the place of beginning.
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SE 174SW 1/4 SECTION 35 T I S R I W W. M.
WASH I NGTON COUNTY OREGON
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STANDARD COVERAGE POLICY
RES.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 orreference, in Schedule A and the name of the Insured any claim insured against or to pay the full amount of this
p Yby 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 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 shall in no case exceed, in
indebtedness secured by a mortgage shown in Schedule B is named as an Insured all, the actual loss of the Insured and costs and attorney's fees which the Company
in Schedule A, the Insured shall include (1) each successor in interest in ownership may be obligated hereunder to pay.
of such indebtedness, (2) any such owner who acquires the estate or interest referred (b) The Company will pay, in addition to any loss insured against by this
to in this policy by foreclosure, trustee's sale, or other legal manner in satisfaction policy, all costs imposed upon the Insured in litigation carried on by the Company
of said indebtedness, and (3) any federal agency or instrumentality which is an for the Insured, and all costs and attorney's fees in litigation carried on by the
insurer or guarantor under an insurance contract or guaranty insuring or guarantee- Insured with the written authorization of the Company.
ing said indebtedness, or any part thereof, whether named as an Insured herein or (c) No claim for damages shall arise or be maintainable under this policy (1)
not, subject otherwise to the provisions hereof. if the Company, after having received notice of an alleged defect, lien or encum-
2. BENEFITS AFTER ACQUISITION OF TITLE brance not excepted or excluded herein removes such defect, lien or encumbrance
within a reasonable time after receipt of such notice, or (2) for liability voluntarily
If an insured owner of the indebtedness secured by a mortgage described in 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
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 S• 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 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
(e) Loss or damage which would not have been sustained if the Insured were policy, such p per centum ha the amount ofy this
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
to the sum of the amount of this policy and the amount expended for the improve.
(f) Usury or claims of usury. ment. The foregoing provisions shall not apply to costs and attorneys' fees in-
(g) "Consumer credit protection," "truth-in-lending," or similar law. curred by the Company in prosecuting or providing for the defense of actions or
proceedings, in behalf.of the Insured pursuant to the terms of this policy or to
AND OF — costs imposed on the Insured in such actions or proceedings, and shall apply only
4. DEFENSE
DNS OF CLAIM PROSECUTIONTBE GIVEN ACTIONSY THE INSURED to that portion of losses which exceed in the aggregate ten per cent of the face of
the policy.
(a) The Company, at its own cost and without undue delay shall provide (1) Provided, however, that the foregoing coinsurance provisions shall not apply
for the defense of the Insured in all litigation consisting of actions or proceedings to any loss arising out of a lien or encumbrance for a liquidated amount which
commenced against the Insured, or defenses, restraining orders, or injunctions inter- existed on the date of this policy and was not shown in Schedule B; and provided
posed against a foreclosure or sale of the mortgage and indebtedness covered by further, such coinsurance provisions shall not apply to any loss if, at the time of
this oolicy or a sale of the estate or interest in said land; or (2) for such action as the occurance of such loss, the then value of the premises, as so improved, does
may be appropriate to establish the title of the estate or interest or the lien of the not exceed one hundred twenty per centum of the amount of this policy.
mortgage as insured, which litigation or action in any of such events is founded (b) If the land described or referred to in Schedule A is divisible into separate
upon an alleged defect, lien or encumbrance insured against by this policy, and may and noncontiguous parcels, or if contiguous and such parcels are not used as one
pursue any litigation to final determination in the court of last resort. single site, and a loss is established affecting one or more of said parcels but not
(b) In case any such action or proceeding shall be begun, or defense inter- all,the loss shall be computed and settled on a pro rata basis as if the face amount
posed, or in case knowledge shall come to the Insured of any claim of title or of this policy was divided pro rata as to the value on the date of this policy of each
interest which is adverse to the title of the estate or interest or lien of the mortgage separate independent parcel to the whole, exclusive of any improvements made
as insured, or which might cause loss or damage for which the Company shall or subsequent to the date of this policy, unless a liability or value has otherwise been
may be liable by virtue of this policy, or if the Insured shall in good faith con• agreed upon as to each such parcel by the Company and the Insured at the time of
tract to sell the indebtedness secured by a mortgage covered by this policy, or, if the issuance of this policy and shown by an express statement herein or by an
an Insured in ood faith leases or ontracts to sell, lease ormortgage the same, endorsement attached hereto.
if the successful bidder at a foreclosure sale under a mortgage covered by this plicy 10. SUBROGATION UPON PAYMENT OR SETTLEMENT
refuses to purchase and in any such event the title to said estate or interest-is re- Whenever the Company shall have settled a claim under this policy, all right
jetted as unmarketable, the Insured shall notify the Company thereof in writing, of subrogation shall vest in the Company unaffected by any act of the Insured,
If such notice shall not be given to the Company within.ten days of the receipt of and it shall be subrogated to and be entitled to all rights and remedies which the
process or pleadings or if the Insured shall not, in writing, promptly notify the Insured would have had against any person or property in respect to such claim
Company of any defect, lien or encumbrance insured against which shall come to had this policy not been issued. If the payment does not cover the loss of the In-
the knowledge of the Insured, or if the Insured shall not in writing, promptly notify sured, the Company shall be subrogated to such rights andemedies in the pro or-
the Company of any such rejection by reason of claimed unmarketability of title,then tion which said payment bears to the amount of said loss. If doss should result from
all liability of the Company in regard to the subject matter of such action, pro- any act of the Insured, such act shall not void this policy, but the Company, in
ceeding or matter shall cease and terminate; provided,however, that failure to notify that event, shall be required to pay only that part of any losses insured against
shall in no case prejudice the claim of any Insured unless the Company shall be hereunder which shall exceed the amount, if any; lost to the Company by reason
actually prejudiced by such failure and then only to the extent of such prejudice. of the impairment of the right of subrogation. The Insured, if requested by the
(c) The Company shall have the right at its own cost to institute and prosecute Company, shall transfer to the Company all rgihts and remedies against any person
any action or proceeding or do any other act which in its opinion may be necessary or property necessary in order to perfect such right of subrogation, and shall permit
or desirable to establish the title of the estate or interest or the lien of the mortgage the Company to use the name of the Insured in any transaction or litigation involving
as insured; and the Company may take any appropriate`action under the terms of such rights or remedies.
this policy whether or not it shall be liable thereunder and shall not thereby concede If the Insured is the owner of the indebtedness secured by a mortgage covered
liability or waive any provision of this policy. by this policy, such Insured may release or substitute the personal liability of any
(d) In all cases where this policy permits or requires the Company to prosecute debtor or guarantor, or extend or otherwise modify the terms of payment, or release
or provide for the defense of any action or proceeding, the Insured shall secure to a portion of the estate or interest from the lien of the mortgage, or release any
it the right to so prosecute or provide defense in such action or proceeding, and collateral security for the indebtedness, provided such act does not result in any
all appeals therein, and permit it to use, at its option, the name of the Insured for loss of priority of the lien of the mortgage.
such purpose. Whenever requested by the Company the Insured shall give the 11. POLICY ENTIRE CONTRACT
Company all reasonable aid in any such action or proceeding, in effecting settle- Any action or actions or rights of action that the Insured may have or may bring
ment, securing evidence, obtaining witnesses, or prosecuting or defending such against the Company arising out of the status of the lien of the mortgage covered
action or proceeding,and the Company shall reimburse the Insured for any expense by this policy or the title of the estate or interest insured herein must be based on
so incurred. the provisions of this policy.
5. NOTICE OF LOSS—LIMITATION OF ACTION No provision or condition of this policy can be waived or changed except by
writing endorsed hereon or attached hereto signed by the President,a Vice-President,
In addition to the notices required under paragraph 4(b),a statement in writing the Secretary, and Assistant Secretary or other validating officer of the Company.
of any loss or damage for which it is claimed the Company is liable under this 12. NOTICES, WHERE SENT
policy shall be furnished to the Company within sixty days after such loss or damage All notices required to be given the Company and any statement in writing
shall policyhavbeen determined iay and no rights of actionnshall accrue beeno the Insured under required to be furnished the Company shall be addressed to it at the office which
this until thirty days after such statement shall have furnished, and no policy.
this o
recovery shall be had by the Insured under this policy unless action shall be corn- issuedp y
menced thereon within five years after expiration of said thirty day period. Failure
to furnish such statement of loss or damage, or to commence such action within the
time hereinbef ore specified, shall be a conclusive bar against maintenance by the
Insured of any action under this policy.
T112