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Recorded aL.......,.............o'clock......]llfr r..+..LI..t;..d..7..n..n..
Reception No_uuuu/.J?tJ / 7u0...8.7
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FILING STAMP
TIns DEED, Made this
I-I
2nd
day of
Marcn
\
19 78
LILLIfN '.!ARIE
of the
,between PEILLIP r. EnT-"'''D~ ~Fr
EDPAPD8
County of Jefferson and State of
(if)
Colorado, of the first part, and rlTY 0'" "'PEAT T'Irr:E
747n P. 38th Ave., Fhe,,-t l'idfe, r('l1"'
of the County of Jefferson and State of Colorado, of the second part:
WITNESSETH, That the said party of the first part, for and in consideration of the sum of
Nine Thousand five Hundrec and no! 1 f'n------------------------------------ DOLLARS,
to the said party of the first part in hand paid by the said party of the second part, the receipt whereof is hereby
confessed and acknowledged. has gI'anted, bargained, sold and conveyed, and by these presents does grant, bargain,
sell, convey and confinu, W1to the said party of the second part, his heirs anJ as::::igns forever, all the following
described lot or parcel of land, situate, lying- and being in the
County of Jefferson and State of Colorado, to-wit:
The Nortn 250 feet of the "'(>st 1 /2 0f the East
2!3 of the East 1/2 0f the HE J/4 ~l'! J/l, n' 1/4 of
Section 71, T0'pr.sr1ir ~ South, T'Ar.0e 69 T. est of tnr
lith P.'!,
County of Jefferson, State of rolnra~o
T("IrETPEP FITH; an easement for an trrin~tjr'n citcn a10nf the eapt eCfe of
the Vest 1/2 of the Fast 2/3 nf the East 1/2 0f the n: l/i SF l/l, r:F 1/4 0f
Section 21, T01;.mshir 3 SoutD, Panre f,O \,-lest 0"-: tnp 6t[l !.iI . ('ount~r of Tefferson
Strlte ('If ro]orado sufficient to CATry Em PFOtmt of T,7;-1tC'::" renresentec1 'b"~ 0re
~hare of Lane Pitch rompanv r~T'itaJ ,tl"'cl'
TOGETHER with all and singular the hereditaments and appurtenances thereto helonging, or in anywiae
appertaining, and the reversion and reversions, remainder and remainders, rents, issues and profits thereof; and all
the estate, right, title, interest, claim and demand whatsoever of the said party of the first part, either in law
or equity, of, in and to the above bargained premises, with the hereditaments and appurtenances.
TO HAVE AND TO HOLD the said premises above bargained and described, with the appurtenances, unto the
said party of the second part, his heirs and assigns forever. And the said party of the first part, for himself, his heirs,
executors, and administrators, does covenant, grant, bargain, and agree to and with the said party of the second part,
hi, heirs and assigns, that at the time of the ensealing and delivery of these presents, he is well seized of the premises
above conveyed, as of gooad, sure, perfect, absolute and indefeasible estate of inheritance, in law, in fee simple, and
has good right, full power and lawful authority to grant, bargain, sell and convey the same in manner and form ~
aforesaid, and that the same are free and clear from all former and other gra~ts, bargains, sales, liens, taxes,
assessments and encwnbrances of whatever kind or nature soever excc,..,t t?'Xf"S frr 1 f17P p3vchJe
in lQ7q and easements and restrictiops rf rp('ord, iF anv
and the above bargained premises in the quiet and peaceable possession of the said party of the second part, his heirs
and assigns against all and every person or persens lawfully claiming or to claim the whole or any part thereof, the
said party of the first part shall and will WARRANT AND FOREVER DEFEND. The singular number shall include
the plural, the plural the singular, and the use of any gender shall be applicable to all genders,
IN WITNESS WHEREOF, the said party of the first part has hereunto set his hand and seal the day and year
first above written.
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STA'i;pO'F COLORADO
'County of.'efferson
Th~' f01"~egoing instrument was acknowledged before me this
7rr
da.yof 'l',karcf1
197P ,by
Phillip r EdFarcs and Li' J i"n '2r:te Fr",'e.rr's
My commission expires
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I Nota1'7 Public.
Witness my hand and official seal.
S 932A \VARRA~T\ DEED F\H Ph\JtLJ~r:.lllll1l. RCC(lrll
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CITY OF WHEAT RIDGE - MEMORANDUM
To Ms. Carol Hampf
City Clerk
Subject Land Acguisi tion
From Charles W. Owens
City Attorney's office
Date April 3, 1978
Approved
Date
I have attached the Title Insurance Policy #Dl15511
for the Edwards property which has been purchased by
the City of Wheat Ridge.
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DIVISION OF INSURANCE
DEPARTMENT OF REGULATORY AGENCIES
106 STATE OFFICE BUILDING. 201 E COLFAX AVE
DENVER COLORADO 80203
STATE OF eOl ORADCi
RILHARD U LAMM
I RICHARD BARNES
May 1, 1977
r'-...."',~SIO..lR
ROBEf.ll L BROWN
Dear Real Estate Purchaser:
Following this letter you wi 11 find a brief explanation of your title
insurance commitment and policy.
Title insurance companies are regulated by this Division, as are
other types of insurance companies. This Division makes certain that com-
panies issuing title insurance commitments and title insurance policies are
financially sound, and that they operate in accordance with statutes and
regulations.
We also have a great interest in making certain that you, as the
consumer, understand the purpose of title insurance and that you understand
your rights under your insurance policy.
In the event you are dissatisfied with responses given to your ques-
tions or problems by your title insurance company, you are encouraged to
send your questions concerning title insurance or any complaints that you
may have against your title insurer to this office. We are on hand to make
certain that all your rights and remedies, both under your pol icy and under
law, are avai lable to you at all times.
Since re 1 y,
~~
~~ BARNES, C.L.U.
Commissioner of Insurance
JRB bl
As a purchaser of rt home or othf'r real estate you may receivp a Commitment for Title Insurance and a Policy of Title Insurance Both of
these documents. like many others In connection with your purchasp- are contracts creating legal rights which you should read carefully and
which you may Wish to have examlnpd and explained hy a lawyer or Gtlwr adviser While the follOWing deSCription of these documents cannot
change the prpCISt~ If-'rms of these dttcumenls It IS huped that this will help you to understand their purpose and effect and answer some of
your questions about them
QUESTION' "WHAT IS TITLE INSURANCE?"
ANSWER BaSically It IS a contract With the title Insurance company In which ~he company agrees to defend and Indemnify you against
losses which you may suffer because of unreported defects In the title tu your property as r)f the date of the contract It IS not casual'
Insurance and therf-:.fnre does not protect you agamst J.cts of theft or d'-l.maqe tn your home by tire storm and the lIke E::c;~pntlatly. thp
Insurance insures that you have title to the propr;rty subject only to certain exceptions and exclUSIons listed In the POlicy of Title Insurant;"
Title insurance recognizes the pOSSibility of loss. but transfArs the risk of loss from you as property owner to the company iSSUing the pOIIC',
For thiS reason title insurJ.nct:_ u)mpanies are requlrerl to maintain reserVf:S tn C(wer losses
If you are finanCing your purchase your IRnder 'Nill or()Ini:J.rIly rel1uirc that you obtain a separatE; Lender s Policy to Insure that ,,:our prnf)crt"
wlllm fact serve ;)$ S~(;lJrlty for Its 10an
QUESTION: "WHAT DOES THE PREMIUM PAY FORT'
ANSWER. The 11ne time non-recurring premium pays for several things It helps to pay for the cost of clJI1F:dlrlq, maintaining. sear:r1nq
and examining real estate records and certain uther public records which r-elate to your property so that the [Itle insurance company ~.rI
determine the Insurability of your title For example the title insurance company will determine whether the publiC records show that your
seller rp.311y ov.,..'r1s thf~ prr1perty what mortgages or Ilens:a recorded If:gal claim! may exist. whether there are restrictive covenants un Yi)Ur
CONTINUED ON REVERSE
pruper-ty I 'I ('(i~;;:ITH'llls WhlCtl 111,;1/v pprs\ IIh tu C!1)S3 yuur proper1y \ir tu pldl-e utllltlPS J.crf'SS yOU! property The pl0mlurn also serves to fln8nl E'
::::f:l\C\ln !\:~,pl i.;1)sts NhlCh md\i dl15t 11 your title IS C~ldl)f-;'n~eu, Add/tlC'ilal!y paympnt of the prf?rTI/flm requires the tltlf' tnSW'3rlCe C(lmpany to
Indf:ll1ndy y()(J fur any losses you suffer as d reslJlt of thp. llllt' cnrnp,Ul'y J faillllf' tc' fulfill Its C1Jlitr':1CtlJal obligations undpr your title policy
QUESTION WHAT IS A COMMITMENT FOR TiTlE INSURANCE?"
ANSWER A Cnmmltml'rlt for 11tl8 InS1Hdnl t' IS a st;-mdardlzAcJ flll~llmlnary document 3uthlJliZC'd hy thA Commissioner of Insurancp
IlldlCi11lI1lj that a tilh> :nSUr,HlU' LUmpan'y NI!I issue (1 tltl0. Insurance pullCY to you ,--dtpr r.~rtajn steps have been taken, such as the paympnt
of an uulslaflulny I1cOlt~,JW> '" I,Pn anu the Issuance of i1 deed to YUI~ These st<:ps Jle set lJut in the commitment as requilempnts In
ScherJltle B .Spctlnn 1 I" Schedule B C;nclloll 2 Exceptlnns the cummltment also summar!Zps cnrt31n F>xistlnQ limitations on the use ot
yrJlJl pr')~H---'rty thp ,ildl'rts In Y1JlH tltl,,~ anJ lil--'ns ag,lInst y'n!jf P!OPE~fty Your polIcy will not plotect you cH)3\nst these matters You w1l1 note that
some' (If tht-~SP IlnliL-ltl\Hh dlhJ Lkfccls rll~-IY still ex.lst even d1ter all 01 the rt-~l1lJlr{-mlAnts 0f thr~ C0rnmltrnpnt have been met. TtlPse othpr matter~
cHe usudlly <;\Jdl H1IJHJ5 ,IS r('s~r IL'!IVl clJvf'rlanls III f'3sAments for utilltlr;s and the ltke You sl\0u(d carpfu\l'y f(~ad both the requllempnts ;:md
tht' (xlypllnnS It) !ltlp stated III thc~ l;Ullllllltnwnl SO that you mLl'y raise ubJectlons if then rue rnrlllprs alfe-clmg the title to whlc.;h you cjld 110t
agr0t-J when ynu slqned the contract to purchc1SE-~ Vnu1 pruperty
~l)rnp. ()f :ht-' e>\ccptl'ln~~ ,lrf' standard dnl! will not normally be covered by your title policy The first standard pxceptlon is any claim by
parties III possess"n ,f th~_' plupert)! which 1$ n:l! shnvvrl by th!;, puhllc rp-corrls ThiS means, tur pxamplf:: thaI someone may have been JiVing
lJn Hh' plt!PPtt'y' hn d lonq ~)!'rlocj ,)f trrrw dllU !1l,'lV cl(ilrll that Iht-;y own the property el/en though they do not have a recorrled deed, or may
claml thJ.t thf'Y ,11 P ~(J1l1P.hD\!V (Jttll~rWlse pntltlp(} tl I bf: (In lfle prOp0r"ty The tltlA Insurance company coulJ not learn of such a claim by exammrng
the publll" r8<11 ~~sL-l.tp n:_'cords Y()U sflould IflSppct the property to rnahe :;,JP that anyone living there WI!! rpspect your ownership
EXI'l'ptlon ) I)f Sdlp,-!ulf: B similarly rllay mean that someune has used d portion of the property long enough tu claim an easement. eVI':n
though thtne I~; r11.1lflstrurnent of record giVing thAt person the authority to do so
Exu'ptlon 3 ()f tilt' stanrlard commitment :n essence says Hlal the title Insurance poliCY will not insure against problems concerning
thf' f.'.):'..iC1 hOIj[lo'i,-:HV (\\)f:'j '1 \l~~: \-If\,perty yOU ;)rp pUfch3s1ng, which means that you shOUld m8ke r:ertaln that therl-; are no fences or other
encrtJ;ll.'hfllf?nt~~ ,)11 yoUt pr\Jpprty particularly if you do not hav(~ a survey Ag8in, a title InsurdncC company cannot determine whether such
prolll.~rns ,- lust (,n '/'111: property because pmpluyees nt the h'l\p insur8ncp company Will not Inspect the property unless thp.y arp ::;pecI(-llly
rf>r.:l)(~<:,tpd and p;ilc1 tr- i10 sn
E:>:,ccptloll 4 t'-'\1'1ullt;-'S llcn~ which may be filed agalllst your prnpert'l by som0one wilo nl3Y have dune work on th~~ property Lind who
has nut o('en pi1ld Thf' title irl~Uran(;{'; company dops not hdvP any WdY <)f Jeterrnlnlng whether such claims may eXist III thp- absp.nce of sume
recordcrl cJoCLJrllPfll Y,-llJ may Wish to verify that IlU such unsatisfied claims eXist
ThE' fifth ~t.1,/](Llrd p)..ceptlon IS for rnatters which may arise following the issuance of th8 commItment dJleJ beton: you completf: your
purctlast-' Marly 1~llmp;lnIPs dls\ I excludp IdX8S and special rtssessmt'nts which IlWY be imposed against your properly which are not record(~d
rn the puhllc rC'1 "rds ur Ihp dml)!:nt of \lVhlch has ~11 II yet bP8!l determl<\eJ
If yuu are fJurd-klslnq a SlIlgle family reSidence you may Wish to check to see If you are entitled to obtclln endorsement Form No 130
whIch r811l1.'\lf'S SP\!I'I \1, It the s1andard excpptlons ancJ will give you Insurance for some of those matters
'yUlJ will st-"\ that thl.' commitment shows the alllvunt of title insuri=tnce to be issued, together with the 3mount of the premium ch21rge
Ynur selll'r stl<ll1l,j I:hec~ With hiS broker and With the title insurance company issuing the commitment to make Cf~rtalll that he has paid thE=;'
lowest prern:urn 11 whwh hI:: IS ('ntitled For inst,-mcp. If th(:re has been a title Insurance poliCY Issued to YGur seller with\~ the last two years.
he rnay OP entrtll'd tn rC'U?lve some crpdlt fI)r the prlnr premllHll aqdlnst the amount of prRmlum which he Will now pav
QUESTION WHAT IS THE POLICY OF TITLE INSURANCE?"
ANSWER 1-111.,' Pnlil'Y I_d T!tlp Insurance is a document which will be Issued to yuu after your purchase transaction is concluded. It, too 1$
a slancJardlzp.rJ d'lcl1ment. thl.: pr Intl~d rur-tlons of which have been approved by the C\)mmlssioner of Insurance
Sdlf:dulr? ^ 'If YUlH poliCY Wli: set for-th among other matters. the amuunt of Insurance coverCl.lje your name as thp Insured. your Interest
In lhf1 propl>rt'y SiKh as;-H tUrd oWrlPfshlP (Ir a leasehold Interest and the legal deSCription 01 thp propel tv
Y1lur title IIlsurdlll:t-: polwy as ~lnY olher 1Il5UranCe policy, has exceptions from covera~w These Will be set f0rHl Irl Schp\ju!c B of your
pohcy ,\nd In the Schpdu\~~ of E XclUSICins hom Cuverage Matters which may 1"lmlt coverage will be set forth III the 'Conditlons and Stipulations
spctlon (If the POlICy
In Schedulp. B < If thp pi ,llcy you will find ttlOse Items against which thf' title insurance C1-)mpany does not. or cannot. Insure Many of these
Will be the same' clS the t;XCf~ptl(JnS set uut III Schedule 6 eJf the Title Commitment
Thf:-' Schedule: of ExclUSions from Coveraqe excludes mattprs such as zoning ordinances which regulate how the property may be used.
rights which rl1;-{'y hp. P'.lsspssed ll\1 J. gO'iernment;11 ~ndy i-H"ld 'Nhich.-m\ght be eXPlclseo aga.mst the property and Clny rleh:cts of which ynu may
be ;-1W;-!.rt' hut hdvP rlllt Inform.'u the tltlf' rnsurLlnce ctHllpany You rll;'l,y di--'slre to Investlgat0 the status of these mattf'rs before you complete
your purchase Also eJl.cluueu cup- de1ects or encumbrances whIch may be placed upon the property subsequent to the date of the policy
You shuuld rememher that a title pullcy IS nut a promise of Indemnity against some defect or claim against your title which may be created
In the future It dUf~S- protect yuu agaInst loss or damage eXIsting t! om detects In the title to rea.l property eXisting prior to and as of the date
of the POliCy ~~ven though they may not be dlSCOVEJeli until some futurp date
The lo.nglJdqe UHlLerr"llng Cnndltlons and Stluul;=ttltlns under which thl title InSIJrance company Issues ItS pOlicy contalns;:m explanAtion
of the tf~rm~ of the rn1lcy (1nd also deals Wlttl hew\! you should notify thf-~ 1rtlp IrlsurJ.nCt c\)[npanv In the event you may bpllevf,; that y :!j rll2y
naVf-l ~--l clJlrll lJfldpr rhl pulll. '/ If sumeone shl luld assprt that they have <l rlrJht to us~~ Yltllr property or that they own part of It, anrJ you Canll(lt
find that fl{Jht Sf->l furth In yuur poliCY AS an exception ur an exclusion YClU must notify the title Insurance f:ompany in wntlng of the Situation
Thp 3ddress fnr' thiS notlflcdtlon will normally ~1Ppear In your poliCY Prnmpt notification wlil pflJble you and Ihe company to deal with the
matter or prohlpm that you raise If It is covpred by the pnllCy. so that the c:lISputF' may hp rpsnlved in 3S timply a m8nf\0.r 38 possihl8
Yuu shuuld knuw thaI If thf: problem IS cu\/ered by your title inSlJr,-1nce poliCY a title insurance company must USLJ311y bear tht' C(1sts IJf
litigation eilhE~r Il, dp-ferHl yUUr title In the event of ;in adverse claim ::tgainst It or somet\mes tu bnng aHianat\ve legal actlvn to cleal up the
problpm In S(l rj(llllq thl; tit1r,:, InSlIr;'1IlCe CI-lrllpallY retains the right of settling the clalTn or pursuing the matter thraugtl tt:(; courts. If II bt:lleves
that th!~ r Iqhts assertl:~(l t;'i J third par ry aqa\nst your propertv <.H('; nut Ipqally iust\1Ied_ \i the tiUe IIlSU\-;:,rK0 comp;:l.Il'y' takps tilt=: r>oSltlon th:1t th..
matter which you rlIS(~ IS nnt cnvprerj hv the tprms ot the tlflp Insurance poliCY it must StJ Il'ltlty VOll as ~()orl ClS reas()n3hly pOSSlblt -(1 ~I
you preSp.nt Ytllll cldlnl
QUESTION: 'WHAT IF I STill HAVE FURTHER QUESTIONS ABOUT THE COMMITMENT FOR TITLE INSURANCE OR POLICY OF
TITLE INSURANCE?"
ANSWER You should r:ertarnly ask them 01 your attorney, the spller the lender or the title insurance company If you do nnt receive a
satisfactnry CJ.nswpr to YUill o.uestions. you may contact the office of the Colorado CommiSSioner of Insurance J Richard Barnr:s COn1m'sslnnl--
Dppartment elt Reqlll3tney AgenCies, 106 State Office Building Denvel Colorado 80203
F"rm!'J" (' l\ 1::
AL TA OWNER'S POLlCY Amended 10/17/70
K. T. 3-22-78
SCHEDULE A
Order No.. H 61280
Policy No.: D 115511
Date of Policy March 10, 1978 at 8:00 a.m.
Amount of Insurance: $ 9,500.00
Name of Insured.
CITY OF HHEAT RIDGE
2. The estate or interest in the land described herein and which is covered by this policy is:
FEE SIMPLE
3. The estate or interest referred to herein is at Date of Policy vested in.
THE INSURED
4 The land referred to in this policy is described as follows.
The North 250 feet of the Hest 1/2 of the East
2/3 of the East 1/2 of the NE 1/4 SW 1/4 NW 1/4 of
Section 21, Township 3 South, Range 69 West of the
6th P.M.
County of Jefferson,
State of Colorado.
Page 2
ALTA OWNER'S POLlCY~Modified 10/73
SCHEDULE B
Policy No: D 115511
This policy does not insure against loss or damage by reason of the following
1 Rights or claims of parties in possession not shown by the public records.
2 Easements, or claims of easements, not shown by the public records.
3 Discrepancies, conflicts in boundary lines, shortage in area, encroachments, and any facts which a
correct survey and inspection of the premises would disclose and which are not shown by the
public records.
4 Any lien, or right to a lien, for services, labor or material heretofore or hereafter furnished, imposed
by law and not shown by the public records.
5. Taxes for the year 1977 and subsequent years.
6. Rights of way for roads, highways, ditches, ditch and reservoir filing,
utilities and other purposes, over, across or under the within described property
if any.
Page 3
11091 WEST 44th AVENUE
.
WHEAT RIDGE, COLORADO
PHONE XU:~X l?5-rP!12
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FARMS
Form No. 1402 (1/70)
AL TA Owner's Policy
Form B - 1970
(Amended 10.17.70)
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POLICY OF TITLE I NSU RANCE
ISSUED BY
First American Title Insurance Company
SUBJECT TO THE EXCLUSIONS FROM COVERAGE, THE EXCEPTIONS CONTAINED IN SCHEDULE B
AND THE PROVISIONS OF THE CONDITIONS AND STIPULATIONS HEREOF, FIRST AMERICAN TITLE
INSURANCE COMPANY, a California corporation, herein called the Company, insures, as of Date of Policy shown
in Schedule A, against loss or damage, not exceeding the amount of insurance stated in Schedule A, and costs,
attorneys' fees and expenses which the Company may become obligated to pay hereunder, sustained or incurred by
the insured by reason of'
title to the estate or interest described in Schedule A being vested otherwise than as stated therein;
2. any defect in or lien or encumbrance on such title;
3. lack of a right of access to and from 1he land; or
4. unmarketability of such title.
IN WITNESS WHEREOF, First American Title Insurance Company has caused this policy to be signed and sealed
by its duly authorized officers as of Date of Policy shown in Schedule A.
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First American Title Insurance Company
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BY
PRESIDENT
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SECRETARY
ISSUING AGENT:
$ecurity
Title Guaranty Company
1597 WADSWORTH BLVD
LAKEWOOD COLORADO B021S
(303) 232.1414
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SCHEDULE OF EXCLUSIONS FROM COVERAGE
THE FOLLOWING MATTERS ARE EXPRESSLY EXCLUOED FROM THE COVERAGE OF THIS POLICY
1 ANY LAW ORDINANCE OR GOVERNMENTAL REGULATION (INCLUDING BUT NOT LIMITED TO BUILDING AND ZONING ORDINANCESl
RESTRICTING OR REGULATING OR PROHIBITING THE OCCUPANCY, USE OR ENJOYMENT OF THE LAND, OR REGULATING THE CHAR.
ACTER, DIMENSIONS OR LOCATION OF ANY IMPROVEMENT NOW OR HEREAFTER ERECTED ON THE LAND, OR PROHIBITING A
SEPARATION IN OWNERSHIP OR A REDUCTION IN THE DIMENSIONS OR AREA OF THE LAND, OR THE EFFECT OF ANY VIOLATION
OF ANY SUCH LAW. ORDINANCE OR GOVERNMENTAL REGULATION.
2. RIGHTS OF EMINENT DOMAIN OR GOVERNMENTAL RIGHTS OF POLICE POWER UNLESS NOTICE OF THE EXERCISE OF SUCH RIGHTS
APPEARS IN THE PUBLIC RECORDS AT DATE OF POLICY
3. DEFECTS, LIENS, ENCUMBRANCES, ADVERSE CLAIMS, OR OTHER MATTERS (a) CREATED, SUFFERED, ASSUMED OR AGREED TO BY
THE INSURED CLAIMANT, (b) NOT KNOWN TO THE COMPANY AND NOT SHOWN BY THE PUBLIC RECORDS BUT KNOWN TO THE
INSURED CLAIMANT EITHER AT DATE OF POLICY OR AT THE DATE SUCH CLAIMANT ACQUIRED AN ESTATE OR INTEREST
INSURED BY THIS POLICY AND NOT DISCLOSED IN WRITING BY THE INSURED CLAIMANT TO THE COMPANY PRIOR TO THE DATE
SUCH INSURED CLAIMANT BECAME AN INSURED HEREUNDER, (c) RESULTING IN NO LOSS OR DAMAGE TO THE INSURED CLAIMANT,
(d) ATTACHING OR CREATED SUBSEQUENT TO DATE OF POLICY, OR (e) RESULTING IN LOSS OR DAMAGE WHICH WOULD NOT HAVE
BEEN SUSTAINED IF THE INSURED CLAIMANT HAD PAID VALUE FOR THE ESTATE OR INTEREST INSURED BY THIS POLICY.
DEFINITION OF TERMS
The following terms when used in this
policy mean.
(a) "insured" the insured named in
Schedule A, and, subject to any rights or defenses
the Company may have had against the named in-
sured, those who succeed to the interest of such
insured by operation of law as distinguished from
purchase including, but not limited to, heirs,
distributees, devisees, survivors, personal representa-
tives, next of kin, or corporate or fiduciary
successors.
(bl "insured claimant" an insured
claiming loss or damage hereunder
Ic) "knowledge" actual knowledge,
not constructive knowledge or notice which may be
imputed to an insured by reason of any public
records.
. (dl "land" the land desc,ibed, speci-
fIcally or by reference in Schedule C, and improve-
ments affixed thereto which by law constitute real
property; provided, however, the term "land" does
not include any property beyond the lines of the
area specifically described or referred to in Schedule
C, nor any right, title, interest, estate or easement
in abutting streets, roads, avenues, alleys, lanes,
ways or waterways, but nothing herein shall modi-
fy or limit the extent to which a right of access to
and from the land is i nsu red by th is pol icy
(el "mortgage" mortgage, deed of
trust, trust deed, or other security instrument.
(1) "public records" those records
which by law impart constructive notice of matters
relating to said land.
2. CONTINUATION OF INSURANCE AFTER
CONVEYANCE OF TITLE
The coverage of this policy shall continue in
force as of Date of Policy in favor of an insured so
long as such insured retains an estate or interest in
the land, or holds an indebtedness secured by a pur-
chase money mortgage given by a purchaser from
such insured, or so long as such insured shall have
liability by reason of covenants of warranty made
by such insured in any transfer or conveyance of
suc~ estate or interest; provided, however, this
polley shall not continue in force in favor of any
purchaser from such insured of either said estate or
interest or the indebtedness secured by a purchase
money mortgage given to such insured.
3. DEFENSE AND PROSECUTION OF AC.
TlONS - NOTICE OF CLAIM TO BE
GIVEN BY AN INSURED CLAIMANT
(a) The Company, at its own cost and with-
out undue delay, shall provide for the defense of an
CONDITIONS AND STIPULATIONS
insured in all litigation consisting of actions or
p'roceedings commenced against such insured, or a
defense interposed against an insured in an action
to enforce a contract for a sale of the estate or
interest in said land, to the extent that such liti-
gation is founded upon an alleged defect, lien,
encumbrance, or other matter insured against
by this policy
Ibl The insured shall notify the Company
promptly in writing (i) in case any action or pro-
ceeding is begun or defense is interposed as set
forth in (a) above, (ii) in case knowledge shall
come to an insured hereunder of any claim of title
or interest which is adverse to the title to the
estate or interest, as insured, and which might
cause loss or damage for which the Company may
be liable by virtue of this policy, or (iii) if title to
the estate or interest, as insured, is rejected as un-
marketable. If such prompt notice shall not be
given to the Company, then as to such insured all
liability of the Company shall cease and terminate
in regard to the matter or matters for wh ich such
pr?mpt notice is required; provided, however, that
failure to notify shall in no case prejudice the
rights of any such insured under this policy unless
the Company shall be prejudiced by such failure
and then only to the extent of such prejudice.
(e) The Company shall have the right at its
own cost to institute and without undue delay
prosecute any action or proceeding or to do any
oth.er act which in-its opinion may be necessary or
desirable to establish the title to the estate or in-
terest a~ insure~, and the Company may take any
appropriate actlo.n under the terms of this pOlicy,
whether or not It shall be liable thereunder, and
shall not thereby concede liability or waive any
provision of this policy
Id) Whenever the Company shall have
brought any action or interposed a defense as re-
quired or permitted by the provisions of this policy,
t~e Compan.y ~ay pursue any such litigation to
fl.na~ determination by a court of competent juris-
d~ctlon. and expressly reserves the right, in its sole
discretion, to appeal from any adverse judgment or
order
(~) I n all cases where this policy permits
or requires the Company to prosecute or provide
for the defense of any action or proceeding, the in-
s~red hereunder shall secure to the Company the
fight to so prosecute or provide defense in such ac-
ti~n or proceeding, and all appeals therein, and per-
mit the Company to use, at its option, the name of
such insured for such purpose. Whenever requested
by the Company, such insured shall give the
Company all reasonable aid in any such action or
proceeding, .i~ eff~ting settlement, securing evi-
dence, obtaining Witnesses, or prosecuting or de-
fending .such action or proceeding, and the Company
~hall reImburse such insured for any expense so
Incurred.
4. NOTICE OF LOSS - LIMITATION OF
ACTION
In addition to the notices required under
paragraph 3(b) of these Conditions and Stipulations,
a statement in writing of any loss or damage for
which it is claimed the Company is liable under
this policy shall be furnished to the Company
within 90 days after such loss or damage shall have
been determined and no right of action shall accrue
to an insured claimant until 30 days after such
statement shall have been furnished. Failure to
furnish such statement of loss or damage shall
terminate any liability of the Company under this
policy as to such loss or damage.
5. OPTIONS TO PAY OR OTHERWISE SET-
TLE CLAIMS
The Company shall have the option to payor
otherwise settle for or in the name of an insured
claimant any claim insured against or to terminate
all liability and obligations of the Company here-
under by paying or tendering payment of the
amount of insurance under this policy together
with any costs, attorneys' fees and expenses in-
curred up to the time of such payment or tender of
payment, by the insured claimant and authorized
by the Company
6. DETERMINATION AND PAYMENT OF
LOSS
(a) The liability of the Company under this
policy shall in no case exceed the least of.
m the actual loss of the insured
claimant; or
(ij) the amount of insurance stated in
Schedule A.
Ib) The Company will pay, in addition to
any loss Insured against by this policy, all costs im-
posed upon an insured in litigation carried on by
the Company for such insured and all costs
attorneys' fees and expenses in iitigation carried
on by such insured with the written authorization
of the Company
. (c) When liability has been definitely fixed
In accordance with the conditions of this policy,
the loss or damage shall be payable within 30 days
thereafter
(Continued on inside back cover)
7
LIMITATION OF LIABILITY
No claim shall arise or be maintainable under
this pOlicy lal if the Company, after having received
notice of an alleged defect, lien or encumbrance in-
sured against hereunder, by litigation or otherwise,
removes such defect, lien or encumbrance or es-
tablishes the title, as insured, within a reasonable
time after receipt of such notice; (b) in the event
of litigation until there has been a final determina~
tion by a court of competent jurisdiction, and dis-
position of all appeals therefrom, adverse to the
title, as insured, as provided in paragraph 3 hereof;
or (c) for liability vOluntarily assumed by an in-
sured in settling any claim or su it without prior
written consent of the Company
8. REDUCTION OF LIABILITY
All payments under this pol icy, except pay.
ments made for costs, attorneys' fees and ex-
penses, shall reduce the amount of the insurance
pro tanto. No payment shall be made without
producing this policy for endorsement of such
payment 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
9. LIABILITY NONCUMULATIVE
It is expressly understood that the amount of
insurance under this policy shall be reduced by any
amount the Company may pay under any policy
insuring either (a) a mortgage shown or referred to
in Schedule B hereof which is a lien on the estate
or interest covered by this policy. or (b) a mortgage
hereafter executed by an insured which is a charge
or lien on the estate or interest described or re-
ferred to in Schedule A, and the amount so paid
shall be deemed a payment under this policy The
Company shall have the option to apply to the pay.
ment of any such mortgages any amou nt that
otherwise would be payable hereunder to the in-
sured owner of the estate or interest covered by
this pOlicy and the amount so paid shall be deemed
a payment under this policy to said insured owner
CONDITIONS AND STIPULATIONS
(Continued from inside front cover)
10.
APPORTIONMENT
If the land described in Schedule C con.
sists of two or more parcels which are not used as
a single site, and a loss is established affecting one
or more of said parcels but not all, the loss shall
be computed and settled on a pro rata basis as if
the amount of insurance under this policy was di-
vided pro rata as to the value on Date of Policy of
each separate parcel to the whole, exclusive of any
improvements made subsequent to Date of Policy,
unless a liability or value has otherwise been agreed
upon as to each such parcel by the Company and
the insured at the time of the issuance of this
policy and shown by an express statement herein
or by an endorsement attached hereto.
11 SUBROGATION UPON PAYMENT OR
SETTLEMENT
Whenever the Company shall have settled a
claim under this policy, all right of subrogation
shall vest in the Company unaffected by any act of
the insured claimant. The Company shall be subro-
gated to and be entitled to all rights and remedies
which such insured claimant would have had against
any person or property in respect to such claim
had this policy not been issued, and if requested by
the Company, such insured claimant shall transfer
to the Company all rights and remedies against any
person or property necessary in order to perfect
such right of subrogation and shall permit the
Company to use the name of such insured claimant
in any transaction or litigation involving such rights
or remedies. I f the payment does not cover the
loss of such insured claimant, the Company shall be
subrogated to such rights and remedies in the pro-
portion which said payment bears to the amount of
said loss. If loss should result from any act of such
insured claimant, such act shall not void this pOlicy,
but the Company, in that event, shall be required
to pay only that part of any losses insured against
hereunder which shall exceed the amount, if any,
lost to the Company by reason of the impairment
of the right of subrogation.
12.
LIABILITY LIMITED TO THIS POLICY
This instrument together with all endorse-
ments and other instruments, if any, attached
hereto by the Company is the entire pOlicy and
contract between the insured and the Company
Any claim of loss or damage, whether or not
based on negligence, and which arises out of the
status of the title to the estate or interest covered
hereby or any action asserting such claim, shall be
restricted to the provisions and conditions and
stipulations of this policy
No amendment of or endorsement to this
pOlicy can be made except by writing endorsed
hereon or attached hereto signed by either the Presi-
dent, a Vice President, the Secretary, an Assistant
Secretary, or validating officer or authorized signa-
tory of the Company
13. NOTICES, WHERE SENT
All notices required to be given the Company
and any statement in writing required to be fur-
nished the Company shall be addressed to it at its
main office at 421 North Main Street, Santa Ana,
California, or to the office which issued this policy
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