HomeMy WebLinkAboutD-965 Edna Saddle Tank Site Recorded 09/07/1976I
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o9472,6,' 7e" E00000.00 R�CF
RECORDING 4ES-TED BY `& RETURN TO:
Wilson, Jones, Morton & Lynch
P.O. Box 152
San Mateo, CA 94401
SUPERIOR CC
09472, 7!2 E00000.00CA
OOC. N0. 35G2G 1 SEP 1976
1 &4ISBETq
OFFICIAL RECORD6 Wp N Zwry
SAN LOIS(061SOb d10., Mk BY� EETA TH' '
WAS
S E r ,� ��/ V OEPrTY CLERK .�•"`'�.
eOpIP .
LIAM ' E. . ZIMARIK
COUNTY RECORDER `
`TIME
URT OF THE STATE OF CALIFORNIA
COUNTY OF SAN LUIS OBISPO
CITY OF SAN LUIS OBISPO, etc.,
Plaintiff,
VS.
ROBERT E. BOLMEN, IRENE BRUGHELLI,
individually and as the Trustee of
the Testamentary Trust of Aurelio
Brughelli, DOLLY GARCIA, EILEEN
DAMON, ERCOLE BRUGHELLI, as
beneficiaries of the Testamentary
Trust of Aurelio Brughelli, et al.,
Defendants. )
)
NO. 43833
FINAL JUDGMENT OF CONDEMNA-
TION AS'TO PARCELS 2 -A,
2 -.B AND 2 -B (a) .
It appearing to the Court that plaintiff, in accordance
with the Stipulation for Judgment heretofore entered in the pro-
ceeding relating to Parcels 2 -A, 2 -B and 2 -B(a), has deposited
the award in the sum of $12,000.00 with Title Insurance and Trust
Company, 1141 Chorro, San Luis Obispo,;CA with appropriate escrow
instructions, for the benefit of defendants IRENE BRUGHELLI,
individually and as the trustee of the testamentary trust of
Aurelio Brughelli, DOLLY GARCIA, EILEEN DAMON and ERCOLE
BRUGHELLI, as beneficiaries of the testamentary trust of Aurelio
Brughelli, and it further appearing to the Court, that pursuant
to the terms of the Stipulation aforesaid, the Court was requeste
to enter a Final Judgment in the proceeding relating to said
parcels;
NOW, THEREFORE, IT IS ORDERED, ADJUDGED and DECREED that the
fee simple title in and to Parcel 2 -A, together with an easement
D 965 •,p
VOL 1920 PACE. 684'
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•
ifor pipeline and public utility purposes in, over, across and
upon Parcels 2 -B and 2 -B(a) will vest in plaintiff free and dis-
charged of all claims and liens of every kind whatsoever forthwith
upon recordation of the within Final Judgment.
IT IS FURTHER ORDERED, ADJUDGED and DECREED that the real
property taxes, including any delinquencies, costs and interest,
if any, as to Parcel 2 -A only, shall be prorated (in accordance
with Revenue and Taxation Code Section 4896(2)(b)) as of July 29,
1974, the effective date of the Order for Immediate Possession
and Use filed herein; and any unpaid portion thereof shall be
paid out of the award herein; and that plaintiff's portion of
such prorated current tax shall be cancelled.
IT IS FURTHER ORDERED, ADJUDGED and DECREED that said Parcels
2 -A, 2 -B and 2 -B(a) are more particularly described in.Exhibit "A"
attached hereto and by this .reference made a part hereof.
Done in open Court. this �Lvy day of September;:1976.
2
W. R. W00LPERT
Judge of said Superior Court
A
VOL 1920 PACE, 685
C
e
C
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C
EXHIBIT "A"
All that certain real property situate in the County of
San Luis Obispo, State of California, more particularly
described as follows:
PARCEL 2 -A (Portion of Parcel 2 = Brughelli)-
Reservoir Site - 2.050 Acres
Commencing at a point (hereinafter to be known as Point X)
on the southwesterly line of Broad, Street (sometimes known as
Edna Road) at the most northerly corner of Lot 1 of the Yoakum
Poultry Units according to the map thereof recorded March 11,
1927 in Book 3, Page 89 of Maps, records of said County, the
bearing of said southwesterly line of said Broad Street as used
herein being N. 31001124" W.;
Thence, S. 22 °08'0.8" W. 2276.72 feet to the southwesterly
corner of Lot 41 of said Yoakum Poultry Units and the true
point of beginning;
Thence lst, N. 88012148" W. following along the alignment
of an existing fence, 222.94 feet to an angle point in said
fence line;
Thence 2nd, N. 88 037'21" W,.following along the alignment.
of an existing fence, 161.62 feet to a point fronrwhich Point X
hereinabove described bears N. 30037147" E. 2438.27 feet;
Thence 3rd, S. 14047159" E. 139.15 feet;
Thence 4th, S. 46 031'15" E. 31.97 feet;
Thence 5th, S. 54 034'59" E. 27.61 feet;
Thence 6th, S. 58 057'42" E. 65.94 feet;
Thence 7th, S. 22 °27'17" W. 46.38 feet;.
Thence 8th, S. 66009'08" E. 62.00 feet;
Thence 9th, N. 65 030'39" E. 125.28 feet;
Thence 10th, N. 61007'47" E. 105.63 feet;
Thence 11th, N..5702.2'51" E. 89.05 feet;
Thence 12th, N. 37047'38" E. 62.01 feet; co
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Thence 13th, N. 8011'09" E. 61.08 feet;
Thence 14th, N. 83027'32" W. 120.58 feet to the true
point of beginning.
EVOL 1920 PAGE: 6 86
J
J
C '
EXHIBIT "A" (continued)
PARCEL 2 -B (Portion of Parcel 2 - Brughelli)
(Easement for Water Pipeline and _Public
utility Purposes)
Easement Area - 1.431 Acres
Beginning at the southwesterly terminus of.the seventh
(7th) course of Parcel 2 - A hereinabove described;
Thence -1st, S. 23 050'52" W. 106.56 feet;
Thence 2nd, S. 4 °16'30" W. 997.30 feet;
Thence 3rd, N. 85 035'58" W. 81.55 feet;
Thence 4th, S. 4 °24'02" W.10.00 feet;
Thence 5th, N. 85 035'58" W.'64.2.31 feet to the northeast
corner of Lot 3.2 of the San Luis Obispo Suburban Tract accord -
ing to the map thereof.recorded February 7, 1906 in Book 1,
Page 92 of Record of Surveys, records of said County;
Thence 6th, S. 1 °14136" W. along the easterly line of said
Lot 32 of the San Luis Obispo Suburban Tract, 30.05 feet;
Thence 7th, S. 85 035158" E. 757.29 feet;
Thence 8th, N. 4016130" E.1031.34 feet;
Thence 9th, N. 23 050'5.2" E. 100.52 feet to a point in the
eighth (8th) course of Parcel 2 -A hereinabove described;
Thence 10th, N. 66009108" W. along said eighth course,
35..00 feet to the point of beginning.
EXHIBIT "A
All that certain real property situate in the County
of San Luis Obispo,.State of.California, and more parti-
cularly described as follows:
Parcel 2 -B(a) (0.037 Acres)
BEGINNING at the southeast corner of Lot 31 of the San Luis
Obispo Suburban Tract according to the map thereof recorded
February 7, 1906 in Book 1 of Record of Surveys at Page 92,
said point is the Southwesterly - terminus of the 5th course
of Parcel 2 -B as more particularly described in Exhibit "B ",.
page 5 of 6, attached.hereto and by this reference incorporated
herein;
Thence 1st, S. 85 035158" E. 54.00 ft;
Thence 2nd, N. 4 024'02" E. 30.00 ft;
Thence 3rd, N. 85 035158" W. 54.00 feet more or less. -
to the easterly line of Lot 31 of the said San Luis
Obispo Suburban Tract;
Thence 4th, S..0010' W. along the easterly line of the
said Lot 31 to the southeast corner of said lot_ and
to the point of beginning.
r ; 9
EVOL1920 PAu 687
co
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Q:
STATE OF CALIFORNIA ) ss
COUNTY OF SAN LUIS OBISPO )
I, MISBETH WOLLAM, County Clerk of the above entitled
County, and ex officio Clerk of the Superior Court
thereof, do hereby certify;.that; they ii7regcing is a full,
true and correct copy ufi the origindl or ffle in r
office, and that I hive carefully .compar��'. t�ia. same
:
with the original.
Witness, my hand and seal of said Superior '.Court
this ..1_./ -' ;day of'-: - - -• --
0pL - - - - -- —• -
MISIi&4 M.: '
tunty Clerk and Ex- OffiGw;Cle {k S4penor Court /
I By
END Of DOCUMENT
1 � 1
V.
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fvo��920. Pacc 688
Vi
IrTITLE INSURANCE
IA ND TRUST
ATICOR COMPANY. Policy of Tifle Insurance
SUBJECT TO SCHEDULE B AND THE CONDITIONS AND STIPULATIONS HEREOF, TITLE INSURANCE AND
,TRUST COMPANY, .a California corporation, herein called the Company, insures th,e . insured, 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 said insured by reason of:
1. Title to the estate or interest described in Schedule A being vested other -than as stated therein;
2. Any defect in or lien or encumbrance on such title;
3. Unmarketability of such title; or
4... Any lack of the ordi-na!y right of an abutting owner for access to, at least -one physically open street or highway if
the land, in fact, abuts upon one or more such streets or highways;
and in addition, as to an insured lender only-,
5. Invalidity of the lien of the insured mortgage upon said estate or interest except to the extent -fiat such invalidity,
or claim thereof, arises out of the transaction evidenced by the insured mortgage and is based upon
a. usury, or
b. any consumer credit protection or truth in lending.law;
6. Pri6rity of any Ii.eh or encumbrance over the lien of the insured mortgage, said mortgage being shown in
Schedule B in the order 6f its priority; or
7. Invalidity of any assignment of the insured mortgage, provided such assignment is shown in Schedule B.
Title Insurance an_d;.,T-r.ust CoMpany
t- AND FA, Ail
is Pi?
by.
?;Of P-
Copy of Policy<.
No additional liabilfty assumed
L r-
TO 1012 TI-T (10-75) California Land Title Association Standard Coverage Policy-1973
Jent
Schedule B .Part
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.
Proceedings by a public agency which may result in taxes or assessments, or notices of such proceedings, whether
or not shown by the records of such agency or by the public records.
2. Any facts, rights, interests or claims which are not shown by the public records but which could be
ascertained by an inspection of the land or by making inquiry of persons in possession thereof.
3. Easements, liens or encumbrances, or claims thereof, which are not shown by the public records.
4. Discrepancies, conflicts in boundary lines, shortage in area, encroachments, or any other facts which a correct
surveywould disclose, and which are not shown bythe public records.
5. (a) Unpatented mining claims; (b) reservations or exceptions in patents or in Acts authorizing the issuance
thereof; (c) water rights, claims or title to water.
6. Any right, title, interest, estate or easement in land beyond the lines of the area specifically described or referred
to in Schedule C, or in abutting; streets, roads, avenues, alleys, lanes, ways or waterways, but nothing in this
paragraph shall modify or limit the extent to which the ordinary right of an abutting owner for access to a physically
open street or highway is insured by this policy.
7. Any law, ordinance or governmental regulation (including but not limited to building and zoning ordinances)
restricting or regulating or prohibiting the occupancy, use or enjoyment of the land, or regulating the character,
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.
8. Rights of eminent domain or governmental rights of police power unless notice of the exercise of such rights
appears in the public records.
9. Defects, liens, encumbrances, adverse claims, or other matters (a) created, suffered, assumed or agreed to by
the insured claimant; (b) not'shown by the public records and not otherwise excluded from coverage 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 or acquired the insured mortgage 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 been a purchaser or encumbrancer for value without
knowledge.
10. Any facts, rights, interests or claims which are not shown by the public records but which could be
ascertained by making inquiry of the lessors in the lease or leases described or referred to in Schedule A.
11.. The effect of any failure to comply with the terms, covenants and. conditions of the lease or leases described or
referred to in Schedule A.
1. 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 insured, 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 repre-
sentatives, next of kin, or corporate or fiduciary successors., The
term ''insured" also includes (i) the owner of the indebtedness
secured by the insured mortgage and each successor in ownership of
such indebtedness (reserving, however, all rights and defenses as to
any such successor who acquires the indebtedness by operation of
law as described in the first sentence of this subparagraph (a) that
the Company would have had against the „successor's transferor),
and further includes (ii) any governmental agency or instrumentality
which is an insurer or guarantor under an insurance contract or guar-
anty insuring or guaranteeing said indebtedness, or any part thereof,
whether named as an insured herein or not, and (iii) the parties des-
Conditions and Stipulations
ignated in paragraph 2(a) of these Conditions and Stipulations.
(b.) "insured claimant ": an insured claiming loss or damage
hereunder.
(c.) ''insu'red lender ": the owner of an insured mortgage.
(d.) "insured mortgage ": a mortgage shown in Schedule B, the
owner of which is named as an insured in Schedule A.
(e.) "knowledge '': actual knowledge, not constructive knowledge
or notice.which may be imputed to an insured by reason of any
public records.
(f.) "land ": the land described specifically or by reference in
Schedule C, and improvements affixed thereto which by law con-
stitute real property; provided, however, the term "land" does not
include any area excluded by Paragraph No. 6 of Part I of Schedule
B of this Policy.
(g.) ''mortgage ": mortgage, deed of trust, trust deed, or other
security instrument.
(h.) "public records ": those records which by law impart con-
structive notice of.matters relating to the land.
(CONDITIONS AND STIPULATIONS Continued on the inside of the Last Page of This Poilcy)
106553— RCT —VH
Schedule A
N0. Dare of Policy: _ - - --
106553 SCPTEMSER 8, 1976 AT 7:30 A.M.
Amount of Insurance: Premium
$ 12, 000.00 $ 124.50
1., Name of Insured: CITY OF SAN LUIS OB I SPO
2. The estate or interest referred to herein is at Date of Policy vested in:
CITY OF SAN LUIS OBISPO
3. The estate or interest in the land described_ in Schedule C and which is covered by this policy is o fee.
AS TO PARCEL 1 AND EASEMENTS MORE PARTICULARLY DESCRIBED AS PARCELS
2 AND 3
oI — I I u I Ind —ru inic to s Foci di i un Jldr1UdFU -average roil cy- rtu.,
Schedule B
This policy does not insure against loss or damage, nor against costs, attorneys' fees or expenses, any or all of which
arise by reason of the following:
Part 1
All matters set forth in paragraphs numbered 1(one) to 11(eleven) inclusive on the inside cover sheet of this policy under
the heading of Schedule B Part I.
Part II
1. FOR TAXES, BONDS AND ASSESSMENTS, CURRENT OR DELINQUENT, SEE
EXHIBIT "1" ATTACHED.
a
i 1.1 r Roo l.. i t -fol Artier lcan Lana 1 ItIe Asso{ylaaon -'Lawn raI lcy - Iaru VVI IT AL I A cnaorserrieni rorrn I l.oVerage'or./An lerlcan Lana- I itre- Associ a uon 1 p
Owner's Policy Form B -1970 or California Lan le-Association.Standard Coverage Policy -197.3
Schedule C
The land referred to herein is described as follows:
PARCEL 1:
THAT PORTION OF THE SOUTHEAST QUARTER OF S- ECTION 2 IN T0WNSHIP 31
SOUTH, RANGE 12 EAST, MOUNT DIA.BLO MERIDIAN, IN THE COUNTY OF
SAN LUIS OBISPO, STATE OF CALIFORNIA, ACCORDING TO THE OFFICIAL
PLAT. THEREOF, DESCRIBED AS FOLLOWS:
COMMENCING AT A POINT (HEREINAFTER TO BE KNOWN AS 'POINT X) ON THE
SOUTHWESTERLY LINE OF BROAD STREET (SOMETIMES KNOWN AS EDNA ROAD)
AT THE MOST NORTHERLY CORNER OF LOT 1 OF THE YOAKUM POULTRY UNITS
ACCORDING TO THE MAP THEREOF RECORDED MARCH 11, 1927 IN BOOK 3,
PAGE 89 OF MAPS, RECORDS OF SAID'COUNTY,'THE BEARING OF SAID
SOUTHWESTERLY LINE OF SAID BROAD STREET AS USED HEREIN BEING NORTH
310 01' 24" WEST;
THENCE SOUTH 220 08' 08" WEST 2276.72 FEET TO THE SOUTHWESTERLY
CORNER OF LOT 41 OF SAID YOAKUM POULTRY UNITS AND THE TRUE POINT OF
BEGINNING;
THENCE 1ST, NORTH 880 12' 48" WEST FOLLOWING ALONG THE ALIGNMENT OF
AN EXISTING FENCE,. 222.94 FEET TO AN ANGLE POINT IN SAID FENCE. LINE;
THENCE 2ND, NORTH 880 37' 21" WEST FOLLOWING ALONG THE ALIGNMENT OF AN
EXISTING FENCE, 161.62 FEET.TO'A POINT FROM -WHICH .POINT X HEREIN —
ABOVE DESCRIBED BEARS NORTH -300 37'.47" EAST 2438.27 FEET;
THENCE 3RD, SOUTH 140 47' 59" €AST. 139.15 .FEET;
THENCE 4TH, SOUTH 460
.31' 15" EAST 31.97 FEET;
THENCE 5TH, SOUTH 540 34' 59" EAST 27.61 FEET;
THENCE 6TH, SOUTH 580 57' 4.2" EAST 65.94 FEET;
THENCE 7TH, SOUTH 220 27' 17" WEST 46.38 FEET;
THENCE 8TH, SOUTH 660 09' 08" EAST 62.00 FEET;
THENCE 9TH, NORTH 650 30' 39" EAST 125.28 FEET;
THENCE 10TH, NORTH 610 07' 47" EAST 105.63 FEET;
THENCE 11TH, NORTH 570 22' 51" EAST 89.05 FEET;
THENCE 12TH, NORTH 370 47' 38" EAST -62.01 FEET;
THENCE 13TH, NORTH 80 11' 09" EAST 61.08 FEET;
THENCE 14TH, NORTH 830 27' 32 "'WEST 120.58 FEET TO THE TRUE POINT
OF BEGINNING.
PARCEL 2:
AN EASEMENT FOR WATER PIPELINE AND PUBLIC UTILITY PURPOSES OVER THAT
PORTION OF THE SOUTHEAST QUARTER OF SECTION 2 IN TOWNSHIP 31 SOUTH,
RANGE 12 EAST, MOUNT DIABLO MERIDIAN, IN THE COUNTY OF SAN LUIS
OBISPO, STATE OF CALIFORNIA, ACCORDING TO THE OFFICIAL PLAT THEREOF,
DESCRIBED AS FOLLOWS:
BEGINNING AT THE SOUTHWESTERLY TERMINUS OF THE SEVENTH (7TH) COURSE
OF'PARCEL 1 HEREINABOVE DESCRIBED;
THENCE 1ST, SOUTH 230 50' 52" WEST 106.56 FEET;
TO 1867 (10-74)
THENCE 2ND, SOUTH 40 16' 30" WEST 997.30 FEET;
THENCE 3RD, NORTH 850 35' 58" WEST 81.55 FEET;
THENCE 4TH, SOUTH 40 24' 02" WEST 10.00 FEET;
o f It
THENCE 51H, NORTF! 85 35 58 WEST 642.31 FEET TO THE NORTHEAST CORNER
0`F LOT 32 OF THE SAN LUIS OBISPO SUBURBAN TRACT ACCORDING TO THE MAP
THEREOF RECORDED FEBRUARY 7, 1906 IN BOOK 1, PAGE 92 OF RECORD OF
SURVEYS IN THE OFFICE OF THE COUNTY RECORDER OF SAID COUNTY;.
THENCE 6TH, SOUTH 10 14' 3610 WEST ALONG THE EASTERLY LINE OF SAID LOT
32 OF THE SAN LUIS OBISPO SUBURBAN TRACT, 30.05 FEET;
THENCE 7TH, SOUTH 850 35' 58" EAST 757.29 FEET;
THENCE 8TH, NORTH 40 16' 30" EAST 1031.34 FEET;
THENCE 9TH, NORTH 230 50' 52" EAST 100.52 FEET TO A. POINT IN THE
EIGHTH (8TH) COURSE OF PARCEL 1 HEREINABOVE DESCRIBED;
THENCE 10TH, NORTH 660 09' 08" WEST ALONG SAID EIGHTH COURSE,
35.00 FEET TO THE POINT OF BEGINNING.
PARCEL 3:
AN .EASEMENT FOR PIPELINE AND PUBLIC UTILITY PURPOSES OVER -THAT
PORTION OF THE SOUTHEAST QUARTER OF SECTION 2 IN TOWNSHIP 31 SOUTH,
RANGE 12 EAST, MOUNT DIABLO MERIDIAN,' IN THE. COUNTY OF SAN LUIS
OBISPO, STATE OF CALIFORNIA,.ACCORDING TO THE OFFICIAL PLAT
THEREOF, DESCRIBED AS FOLLOWS:
BEGINNING AT THE SOUTHEAST'CORNER OF LOT 31 OF THE SAN LUIS OBISPO
SUBURBAN TRACT ACCORDING TO THE MAP THEREOF RECORDED FEBRUARY 7,
1906 IN BOOK 1. OF RECORD OF SURVEYS AT PAGE 92, IN THE OFFICE OF
THE COUNTY RECORDER OF SAID COUNTY, SAID POINT IS THE SOUTHWESTERLY
TERMINUS OF THE 5TH COURSE OF PARCEL 2 HER.EINABOVE DESCRIBED;.
THENCE '1ST, SOUTH 850 35' 58" EAST 54.00 FEET;
THENCE 2ND, NORTH 40 24' 02" EAST-30-00 FEET;
THENCE 3RD, NORTH 850 35' 58" WEST 54.00 FEET, MORE OR LESS., TO THE
EASTERLY LINE OF LOT 31*OF THE SAID SAN LUIS OBISPO SUBURBAN TRACT;
THENCE 4TH, SOUTH 00 10' WEST ALONG-THE EASTERLY LINE OF THE SAID
LOT 31 TO THE SOUTHEAST CORNER OF SAID LOT AND TO THE POINT OF
BEGINNING.
EXHIBIT "1" :
A. GENERAL AND SPECIAL COUNTY TAXES
FOR THE FISCAL YEAR 1976 -1977, A LIEN NOT YET. PAYABLE.
,, 4 1 , • • 10
(CONDITIONS AND STIPULATIONS Continued From Reverse Side of Policy Face)
2. (a.) Continuation of Insurance after Acquisition of Title by
Insured Lender
If this policy insures the owner of the indebtedness secured by the
insured mortgage, this policy shall continue in force as of Date of
Policy in favor of such insured who acquires all or any part of said
estate or interest in the land described in Schedule C by foreclosure,
trustee's sale, conveyance in lieu of foreclosure, or other legal man-
ner which discharges the lien of the insured mortgage, and if such
insured is a corporation, its transferee of the estate or interest so
acquired, provided the transferee is the parent or wholly owned
subsidiary of such insured; and in favor of any governmental agency
or instrumentality which acquires all or any part of the estate or
interest pursuant to a contract of insurance or guaranty insuring or
guaranteeing the indebtedness secured by the insured mortgage.
After any such acquisition the amount of insurance hereunder,
exclusive.of costs, attorneys' fees and expenses which the Company
may be obligated to pay, shall not exceed the least of:
(i) the amount of insurance stated in Schedule A;
(ii) the amount of the unpaid principal of the indebtedness plus
interest thereon, as determined under paragraph 6(a) (iii) hereof,
expenses of foreclosure and amounts advanced to protect the lien of
the insured mortgage and secured by said insured mortgage at the
time of acquisition of such estate or interest in the land; or
(iii) the amount paid by any governmental agency or instrumentality,
if such agency or instrumentality is the insured claimant, in
acquisition of such estate or interest in satisfaction of its insurance
contract or guaranty.
(b.) 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 owns an indebtedness secured by a
purchase 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
such estate or interest; provided, however, this policy 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 Actions — Notice of Claim to be
Given by an Insured Claimant
(a.) The Company, at its own cost and without undue delay, shall
provide for the defense of an insured in litigation to the extent that
such litigation involves an alleged defect, lien, encumbrance or other
matter insured against by this policy.
(b.) The insured shall notify the Company promptly in writing (i) in
case of any litigation 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 or the lien of
the insured mortgage, 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 or the lien of the
insured mortgage, as insured, is rejected as unmarketable. 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 which such prompt 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.
(c.) 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 other act which in its opinion may be necessary or desirable
to establish the title to the estate or interest or the lien of the
insured mortgage, as insured; and the Company may take any appro-
priate action, whether or not it shall be liable under the terms of
this policy, and shall not thereby concede liability or waive any
provision of this policy.
(d.) Whenever the Company shall have brought any action or inter-
posed a defense as required or permitted by the provisions of this
policy, the Company may pursue any such litigation to final deter-
mination by a court of competent jurisdiction and expressly reserves
the right, in its sole discretion, to appeal from any adverse judgment
or order.
(e.) In all cases where this policy permits or requires the Company
to prosecute or provide for the defense of any action or proceeding,
the insured hereunder shall secure to the Company the right to so
prosecute or provide defense in such action or proceeding, and all
appeals therein, and permit 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, at the Company's
expense, all reasonable aid (1) in any such action or proceeding in
effecting settlement, securing evidence, obtaining witnesses, or pros-
ecuting or defending such action'or proceeding, and (2) in any
other act which in the opinion of the Company may be necessary or
desirable to establish the title to the estate or interest or the lien of
the insured mortgage, as insured, including but not limited to
executing corrective or other documents.
Proof of Loss or Damage — Limitation of Action
In addition to the notices required under Paragraph 3(b) of these
Conditions and Stipulations, a proof of loss or damage, signed and
sworn to by the insured claimant shall be furnished to the Company
,within 90 days after the insured claimant shall ascertain or deter-
mine the facts giving rise to such loss or damage. Such proof of loss
or damage shall describe the defect in, or lien or encumbrance on
the title, or other matter insured against by this policy which con-
stitutes the basis of loss or damage, and, when appropriate, state the
basis of calculating the amount of such loss or damage.
Should such proof of loss or damage fail to.state facts sufficient to
enable the Company to determine its liability hereunder, insured
claimant, at the written request of the Company, shall furnish such
additional information as may reasonably be necessary to make such
determination.
No right of action shall accrue to insured claimant until 30 days
after such proof of loss or damage shall have been furnished.
Failure to furnish such proof 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 Settle Claims and Options to
Purchase Indebtedness
The Company shall have the option to pay or 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 hereunder by
paying or tendering payment of the amount of insurance under this
policy together with any costs, attorneys' fees and expenses
incurred up to the time of such payment or tender of payment by
the insured claimant and authorized by the Company. In case loss or
damage is claimed under this policy by the owner of the indebted-
ness secured by the insured mortgage, the Company shall have the
further option to purchase such indebtedness for the amount owing
thereon together with all costs, attorneys' fees and expenses which
the Company is obligated hereunder to pay. if the Company offers
to purchase said indebtedness as herein provided, the owner of such
indebtedness shall transfer and assign said indebtedness and the
mortgage and any collateral securing the same to the Company upon
payment therefor as herein provided. Upon such offer being made
by the Company, all liability and obligations of the Company here-
under to the owner of the indebtedness secured by said insured
mortgage, other than the obligation to purchase said indebtedness
pursuant to this paragraph, are terminated.
6. Determination and Payment of Loss
(a.) The liability of the Company under this policy shall in no case
exceed the least of:
(i) the actual loss of the insured claimant; or
(ii) the amount of insurance stated in Schedule A, or, if applicable,
the amount of insurance as defined in paragraph 2(a) hereof; or
(iii) if this policy insures the owner of the indebtedness secured by
the insured mortgage, and provided said owner is the insured claim-
ant, the amount of the unpaid principal of said indebtedness, plus
interest thereon, provided such amount shall not include any addi-
tional principal indebtedness created subsequent to Date of Policy,
except as to amounts advanced to protect the lien of the insured
mortgage and secured thereby.
(b.) The Company will pay, in addition to any loss insured against
by this policy, all costs imposed upon an insured in litigation carried
on by the Company for such insured, and all costs, attorneys' fees
and expenses in Litigation carried on by such insured with the
written authorization of the Company.
(c.) When the amount of loss or damage has been definitely fixed in
accordance with.the conditions of this policy, the loss or damage
shall be payable within 30 days thereafter.
7. Limitation of Liability
No claim shall arise or be maintainable under this policy (a) if the
Company, after having received notice of an alleged defect, lien or
encumbrance insured against hereunder, by litigation or otherwise,
removes such defect, lien or encumbrance or establishes the title, or
the lien of the insured mortgage, as insured, within a reasonable
time after receipt of such notice; (b) in the event of litigation until
there has been a final determination by a court of competent juris-
diction, and disposition of all appeals therefrom, adverse to the title
or to the lien of the insured mortgage, as insured, as provided in
paragraph 3 hereof; or (c) for liability voluntarily admitted or
assumed by an insured without prior written consent of the Company.
(CONDITIONS AND STIPULATIONS Continued and Concluded on Reverse Side of This Page)
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