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Home My WebLink AboutProperty_Deed_03/01/1968 (4) 111ll�llill�lll�ll�fN�I��N��lll� . G F l�i '�t?I 1 tZ�t� 4�'� :� ��4 aR Bh,. : 4'�:�t?� �G t�.3?t�. THIS INSTRUMENT PREPARED BY AND RETURN TO: RECORDEG izr�zi��ie 17:16;1tb Palm Beach Gaunty, Florida AFFINITY TITLE SERVICES INC AliT 2i5, 000. 00� 8198 S JOG RD Doa Stamp 1, 575. 00 BOYN"�'ON BEACH FL 33472 Sharan R. Bock, GLERK & C�3KPT[tOLLER Property Appraisers Parcel Identification (Folio) Numbers: 60-42-40-25-CIOg�9({�'E80 �n�7'�; �( �p�c� 1 60-42-40-25-00-000-5140 Grantee SS #: Space Above This Line For Recording Data THIS WARRANTY DEED made the 17th day of November, 2010 by FL1, LLC, A DISSOLVED FLORIDA LIMITED LIABILITY COMPANY , herein called the grantor, to VTLLAGE OF TEQUESTA FLORIDA , whose post office address is 483 & 479 SEABROOK ROAD, JUPITER, FL, hereinafter called the Grantee: (YVherever used herein the terms "grantor" and "grantee" include all the parties to this instrument and the heirs, legal representatives and assigns of individuals, and the successors and assigns of corporations) W I T N E S S E T H: That the grantor, for and in consideration of the sum of TWO HtJNDRED TWENTY FIVE THOUSAND AND 00/100'S ($225,000.00) Dollars and other valuable considerations, receipt whereof is hereby acknowledged, hereby grants, bargains, sells, aliens, remises, releases, conveys and confirms unto the �rantee all that certain land situate in PALM BEACH County, State of Florida, viz.: SEE EXHIBIT "A" ATTACHED TOGETHER, with all the tenements, hereditaments and appurtenances thereto belon�in� or in anywise appertaining. TO HAVE AND TO HOLD, the same in fee simple forever. AND, the grantor hereby covenants with said grantee that the grantor is lawfully seized of said land in fee simpie; that the b antor has good right and lawful authority to sell and convey said land, and hereby warrants the title to said land and will defend the same against the lawful claims of all persons whomsoever; and that said land is free of all encumbrances, except taxes accruing subsequent to December 31, 2010. TN WITNESS WHEREOF, the said grantor has signed and sealed these presents the day and year first above written. Signed, sealed and delivered in the presence of: FL-1, LLC, A DISSOLVED FLORIDA LIMITED LIABILITY COMPANY ,� �'� � �' ; : ,i ";�, , r ' � � �� !� -L ! �`� " � . -i '\� ,� / �',v -l � - t L-- :,•� � . � -�, i � �r /i .. Wimess #1 Signature PAULA E BIELSKI, AS SUCCESSCOR TRUSTEE, ITS MANAGING MEMBER - -- - 17211 QUEEN ANNE BRIDGE ROAD, BOWIE, MD 20716 Witness#1 PrintedName , � �--�-- . :� , ;'_ ..,� �� '� � �`". Witness #2 Signature . - !' ," �� ' ,_ 17211 QUEEN ANNE BRIDGE ROAD, SOWIE, MD 20716 -�_ Witness #2 Printed Name 3 STATE OF ,' : . ,. ,. ; COUNTY OF � _ _' -�-..�.. The foregoing instrument was acknowledged before me this 17th day of November, 2010 by PAULA E BIELSKI, AS SrJCCESS�R TRLTS�'Ei, ITS MANAGING MEM3ER OF FL1, LLC, A DTSSOLVED FLORIDA LIMITED LIABILITY COMPANY who is personally known to m� or has produced as identification. ,- �, ',% ��/, SEAL ��uu�r�rimii _ , - ```\�� , M y �i � i�� i Notary Public � •,�•y �! `,� , Q��,.... .... .. � -; ,," f L � � _ i � r r=-i: i��":� ♦ � Z-�•. q ttR NpEL s �� Printed Notary Name � � = Ce?UN�l' _ � ~ � ° s % � MARYLAND � ., . ��%,,�o'Tq•..........�� ,�� nrR �r rnn� �� Fife No: fl0-102 STEWART TlTLE GUARANTY GOMPANY Plant file no. 1010062 Agent's File No. 10-039 EXHIBIT "A" Parcel l: A parcel of land containing approximately 75,000 square feet lying in Section 25, Township 40 South, Range 42 East, in Palm Beach County, Florida, and more particularly described as f�llows: the North 130 feet of the West 635 Feet of the NE 1 /a of the SE 1 / , less the North 117 Feet of the E 25 feet a�f the W 555 feet and the easterly 46.04 feet for the right of way of Seabrook Road.. Parcel2: A parcel of real property in Section 25, Township 40 SoutU, Range 42 East, Palm Beach County, Florida, being nnore particularly described in the deed dated Jun 28,1922, and recorded .Tanuary 17, 1925, In Official Record Book 231, Page 101, of the Public Records of Palian Beach County, Florida, as follows: Commencing at the Northwest (NV� corner of the Northeast Quarter (NE 1 /) of the Southeast Quarter (SE 1 /) of said Section Twenty-Five (25), thence run East five hundred and thirty feet (530'); thence run South one hundred and seventeen feet (117'); thence run East twenty-five feet (25'); thence run North one hundred and seventeen feet (117'); thence run West twenty-five feet (25') to the place of beginning, all being in Township Forty (40) South, Range Forty Two (42) East, and being a parcel of land twenty-five feet widle east and west, and one huudred and seventeen feet deep north and south, in the said Northeast Quarter (NE �/) of the Southeast Quarter (SE 1 /) of Section Twenty-Five (25) after streets have been established. The parcel of property conveyed hereby is also known aud described as: The East 25 feet of the West 555 feet of the North 1117 feet of the Northeast Quarter (NE'/) of the Southeast Quarter (SE'/e) of Section 25, Township 40 South, Range 42 East, Palm Beach County, Florida. STEWART TITLE GUARANTY COMPANY Plant file no. 1011�062 AgenYs File Noe 10-039 SC��EDULE A Schedule A Owner's Policy Policy No.: FA-35-1727897 Date of Policy: December 2, 2010@ 17:16:10 Amount of Insurance: $255,000.00 1. Name of Insured: Village c�f Tequesta Florida 2. The estate or interest in the land which is covered by this policy is: Fee Simple 3. Title to the estate or interest in the land is vested in: Village of Tequesta Florida 4. The land referred to in this policy is described as follows: Property more particularly described on Schedule A-4 continuation attached hereto AI'FINITY TITLE SERVICES, INC. � ,�' /� ��;.�, �_. ..: . � Authoriaed Signatory STEWART TITLE GUARANTY COMPANY Plant file no. 1010062 AgenYs File No. 10-039 SCHEDULE A-4 CONTINUATION Parcel l: A parcel of land containing approximately 75,000 square feet lying in Section 25, Township 40 South, Range 42 East, in Palm Beach County, Florida, and more particularly described as follows: the East 130 feet of the NE 1 / of the SE 1 / of Section 25, less the E 25 feet of the W 555 feet of the N 117 feet of the NE 1 / of the SE 1 / of said Section 25, being a parcel of lan�1 facing on Seabrook Road 130 feet and running W 635 feet, less a parce125 feet by 117 feet, and being immediately W of the land now or formerly of Charles and Dora Seabrook. Parcel2: A parcel of real property in Section 25, Township 40 South, Range 42 East, Palm Beach County, Florida, being more particularly described in the deed dated Jun 28,1922, and recorded 3anuary 17,1925, In Official Record Book 231, Page 101, of the Public Records of Palm Beach County, Florida, as follove�s: Commencing at the Northwest (NV� corner of the Northeast Quarter (NE I/) of the Southeast Quarter (SE 1 /) of said Section Twenty-Five (25), thence run East five hundred and thirty feet (530'); thence run South one hundred and seventeen feet (117'); thence run East twenty-five feet (25'); thence run North one hundred and seventeen feet (117'); thence run West twenty-five feet (25') to the place of beginning, all being in Township Forty (40) South, Range Forty Two (42) East, and being a parcel of land twenty-five feet w�de east and west, and one hundred and seventeen feet deep north and south, in the said Northeast Quarter (NE '/) of the Southeast Quarter (SE 1 /) of Section Twenty-Five (25) after streets have been established. The parcel of property conveyed hereby is also known and described as: The East 25 feet of the West 555 feet of the North 1117 feet of the Northeast Quarter (NE 1 /0) of the Southeast Quarter (SE '/) of Section 25, Township 40 South, Range 42 East, Palm Beach County, Florida. STEWART TITLE GUARANTY COMPANY Plant file no. 1010062 Agent's File No. 10-039 SCHEDULE B Schedule B ALTA Owner's Policy (with printed mineral exception) Policy No.: FA-35-1727897 EXCEPTIONS FROM COVERAGE This policy does not insure against loss or damage (and the Company will not pay costs, attorneys' fees or expenses) which arise by reason of: 1. Any rights, interests, or claims of parties in possession of the land not shown by the public records. 2. Any rights, interests, or claims affecting the land which a correct survey would disclose and which are not shown by the public records. 3. Any lien for services, labor, or materials in connection with improvements, repairs or renovations provided before, on, or after Date of Policy, not shown by the public records. 4. Any dispute as to the boundaries caused by a change in the location of any water body within or adjacent to the land prior to Date of Policy, and any adverse claim to all or part of the land that is, at Date of Policy, or was previously, under water. 5. Taxes or special assessments not shown as liens in the public records or in the records of the local tax collecting authority, at Date of Policy. 6. Any mineral or mineral rights leased, granted or retained by prior owners. 7. Taxes and assessments for the year 2010 and subsequent years, which are not yet due and payable. NOTE: Exceptions Numbered 1, 2, 3, 4, 5 and 6 Above are Hereby Deleted. 11. Notice of the Loxahatchee River Environmental Control District in Palm Beach and Martin Counties, providing that unpaid fees and charges for the services and facilities of the Loxahatchee River Environmental Control District shall constitute liens on the property affected thereby pursuant to Chapter 86-430, Laws of Florida, as evidenced in Notice of Lien Rights recorded in Official Record Book 4984, Page 1254, and Revised Notices recorded in Official Record Book 7048, Page 655, Official Record Book 7187, Page 1712, and Official Record Book 9360, Page 565. STEWART TITLE GUARANTY COMPANY Plant file no. 1010062 Agent's File No. 10-039 12. Any lien arising under chapter 159, Florida Statutes, in favor of any city, town, village or port authority for unpaid service charges for service by any water system, sewer system, or gas system servicing the lands described hereino ALL IN THE PUBLIC RECORDS OF PALM BEACH COUNTY, FLORIDA �> � �-__— - _ , �" � '� �,�.'�� . =� �� , ` _ V � , _,_ �-,. r �� .: � ,�.� ,�� ,, , � } � --� ^" � � � �. � - - . � �., 4, ,, v �rs , .. � �, , t , ; _. . , _ . . r.,. x�^ t r ,/ . _ . . >�: , ,. . , _ � J , 3� , ` . . ._. � _"'�. "___ "_. ' .� . . . . . ._ ....... �� _._._ .. . _. ._ " . . FATIC 524 � .�-d � `'� ,'� ' �� y �r-� ''� � ��```� �` ` Policy No. FA-35- � 7 G 7� 9 7 ;�' � ` \ �� >n; �;u.� i i ' � ��; ,:,�� Y 0� TITL� ��1��v�� -�s POLI� ��«� ,��. { � ..... � n��rrt .. n c i c `�,"'�_. `=:�'�r � v � �'ti �.�:: ,.�..� �r � 3�, i ;��;:. \ :'4�� . �s/!' � � �:�. , = � >� � { -��t' � � i��_• _�� I55LED I3Y � �'�, -�''1�" -�:� First Arner �''itl� Insurance Corn��y ��- .. � ` . l- � ' �� Y' f �,� ' �k�� SUBJECT TO THE EXCLUSIONS FROM COVERAGE, THE EXCEPTIONS FROM COVERAGE CONTAfNED IN SCNEDULE B AND THE CONDITIONS AND STIPULATIONS, FIRST AMERICAN TfTLE INSURANCE COMPANY, a California corporation, herein called the Company, insures, as of Date of Policy shown in Schedufe A, against loss or damage, not exceeding the Amount af Insurance stated in Schedule A, sustained or incur�ed by the lnsUred 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 the title; �: 3. Unmarketability of the title; ��;�< 4. Lack of a right of access to and from the land. The Company will also pay the costs, attorneys' fees and expenses incurred in defense of the title, as insured, but only to the extent provided in the Contlitions and Stipulations. ;.. � �. _ �.� � �>;;. ''' ��`= =:�iC "�,.�� .�,r l,�°,� �'�`- :�.�^ �� -"�„� �,��- �,.� �'�'`. :��,"''� ��- .:,,�,.� ��'. � �� :�� ,`� -`�'� �.�`. =;�.,� ,�.. , , ,..:�= _ _ - . �> _-, r.. :..>.-.� � ..—. � - �� _ — � — =�c' - .,. . : , • . , , . .. ) - ;- � _ - ( � , ---_ _ . �'�` � ��'"`�r<'� `��, - - t `, � �*�� ,�.. � r�'; �t�`�+�.�'� rsa�' _ a;,, '�'.'�;. � ,� • - _ ' . ; (TP �o/ss) ALTA Owner's Poficy (10-17-92) (With Florida Modifications) EXCLUSIONS FROM COVERAGE The following matters are expressly excluded from the coverage of this policy and the Company will not pay loss or damage, costs, attorneys' fees or expenses which arise by teason of: 1. (a) Any law, ordinance or governmental regulation (including but not limited to building and zoning laws, ordinances, or regulations) restricting, regulating, prohibiting or relating to (i) the occupancy, use, or enjoyment of the land; (ii) the character, dimensions or location of any improvement now or hereafter erected on the land; (iii) a separation in ownership or a change in the dimensions or area of the land or any parcel of which the land is or was a part; or (iv) environmental protection, or the effect of any violation oF these laws, ordinances or governmental regulations, except to the extent that a notice of the enforcement thereof or a notice of a defect, lien or encumbrance resulting from a violation or alleged violation affecting the land has been recorded in the public records at Date of Policy. (b) Any governmental police power not excluded by (a) above, except to the extent that a notice of the exercise thereof or a notice of a defect, lien or enwmbrance resulting from a violation or alleged violation affecting the land has been recorded in the public records at Date of Policy. 2. Rights of eminent domain unless notice of the exercise thereof has been recorded in the public records at Date of Policy, but not excluding from coverage any taking which has occurred prior to Date of Policy which would be binding on the rights of a purchaser for value without knowledge. 3. Defects, liens, encumbrances, adverse claims ot other matters: (a) created, suffered, assumed or agreed to by the insured claimant; (b) not known to the Company, not recorded in the public records at Date of Policy, but known to the insured claimant and not disclosed in writing to the Company by the insured claimant prior to the date the insured claimant became an insured under this policy; (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. 4. Any claim, which arises out of the transaction vesting in the insured the estate or interest insured by this policy, by reason of the operation of federal bankruptcy, state insolvency, or similar creditors' rights laws, that is based on: (a) fhe transaction creating the estate or interest insured by this policy being deemed a fraudulent conveyance or fraudulent transfer; or (b) the transaction creating the estate or interest insured by this policy being deemed a preferential transfer except where the preferential transfer results from the failure: (i) to timely record the instrument of transfer; or (ii) of such recordation to impart notice to a purchaser for value or a judgment or lien creditor. CONDITIONS AND STIPULATIONS 1. DEFINITION OF TERMS. All information designated as confidential by the If loss should result from any act of the insured The following terms when used in Ihis policy mean: insured claimant provided to the Company pursuant to claimant, as stated above, that act shall not void this (a) "insured : the insured named in Schedule A, and, this Section shall not be disclosed to others unless, in policy, but the Company, in that event, shall be required subject to any rights or defenses the Company would the reasonable judgment of the Company, it is necessary to pay only that part of any losses insuted against by to the na test of the named insured�b o e at on of law �n the administration of the claim. Failure of the insured this policy which shall exceed the amount, if any, lost to as distinguished from purchase including, but not claimant to submit for examination under oath, produce the Company by reason of the impairment by the other reasonably requested information or grant limited to, heirs, distributees, devisees, survivors, insured claimant of the Compa�y's tight of subrogation. personal representatives, next of kin, or corporate or �ermission to secure reasonably necessary information ro� The Company's Rights Against Non-insured �iduciary successors. rom third parties as required m this paragraPh shall Obligors• (b) "msured claimanP': an insured claiming loss or terminate anY liability of the Company under th�s policy The Com an 's ri ht of subro ation a ainst non- damage. as to that cla�m. P Y g g 8 (c) knowledge" ot "known": actual knowledge, not 6.OPTIONS TO PAY OR OTHERWISE SETTLE �nsured obligors shall exist and shall include, without constructive knowledge or notice which may be CLAIMS; TERMINATION OF LIABILITY. limitation, the rights of the insured to indemnities, imputed to an insured 6y reason of the public rewrds as In case of a claim under this policy, the Company guaranties, other policies of insurance or bonds, defined in this policy or any other records which impart shall have the following additional options: notwithstanding any terms or conditions contained in consttuctive nohce of matters affecting the land. (a) To Pav or Tender Payment of the Amount of those instruments which provide for subrogation rights d) "land": the land described or refened to in Insurance. by reason of this policy. Sc edule (A) and improvements affixed thereto which (i) To Pay or tender payment of the amount of 14. ARBTI'RATION. by law constitute reai property. The term "land" does insurance under this policy together with any costs, Unless prohibited by applicab[e law, arbitration not include a�y property beyond the lines of the area attorneys' fees, and expenses incurred by the insured pursuant to the Title Insurance Arbitrntion Rules of descrbed or referred to m Schedule A, nor any right, claimant, which were authorized by the Company, up to the American Arbitration Association ma be roa � a�venuese alle s, t the time of payment or tender of payment and which the demanded if agreed to by both the Company and the + Y Y Y Company is obiigated to pay. Insured. Arbitrable matters ma include but are not nothing herein shall modify ot limit the extent to which (i� Upon the exerc�se by the Company of this y � a right of access to and from the land is insured by this � [Imited to, any controversy or claim between the olic option, a 1 liability and obligations to the insured under P y'� � this policy, other than to make the payment rec�uired, Company and the Insured arising out of or relating to (e) 'mortgage': mortgage, deed of trust, trust deed, shall termmate, including any liability or obiligation to this policy, and service of the Company in conneclion orothersecuntymstrument. defend, ptosecute, or continue any litigation, and the .f P� Yp (� public tecords": records established under state with its issuance or the breach o a lic rovision or statutes at Date of Policy for the purpose of imparting Policy shall be surrendered to the Company for other obligation. Arbitration pursuant to this policy constructive notice of matters relahng to real property ro cancellation. and under the Rules in effect on the date the demand purchasers for value and without knowled�e. With (b) To Pav or Otherwise Settle With Parties Other for arbitration is made or, at the option of the Insured, respect to Section 1(a)(iv) of the Exclusions From than the Insured or With the Insured Claimant. the Rules in effect at Date of Policy shall be binding Coverage, "public records" shall also include (i) to pay or othenvise settle with other parties for upon the parties. The award may include attorneys' environmental protection liens filed in the records of the or in the name of an insured claimant any cla�m insured fees only if the laws of the state in which the land is clerk of the Umted States district court for the district in against under this policy, together wrth any costs, located permit a court to award attorneys' fees to a which the land is located. attorneys' fees, and expenses mcurred by the insured prevai&ng party. Judgment upore the award rendered (g) "unmarketability of the title": an alleged or claimant which were authorized by the Company up to by the Arbitmtor(s) may be entered in any court apparent matter affecting the title to the land, not the time of payment and which the Company is havingjurisdiction thereof. excluded or excepted from coverage, which would obligated to pay; or entitle a purchaser of the estate or interest described in (�l) to pay or othenvise settle with the insured The law of the situs of the land shall apply to an Schedule A to be released from the obligation to claimant the loss or damage provided for under this arbitration under the Title Insurance Arbitration Rules. purchase by virtue of a contractual condition requiring Policy, to�ether with any costs, attorneys' fees, and A copy of the Rules may be obtained from the the delivery of marketable title. expenses mcutred by the msured claimant which were Company upon request. 2. CON'TINUATION OF INSURANCE AFTER authorized by the Company up to the time of payment 15. LIABILI'I'Y LIMITED TO THIS POLICY; CONVEYANCE OF TITLE. and which the Company �s obligated to pa . POLICY ENTIRE CONTRACT. The coverage of this policy shall continue in force as of Date of Pohcy in favor of an msured only so long as the Upon the exercise by the Company o either of the (a) This policy together with all endorsements, if insured retains an estate or interest in the land, or holds options provided for m paragraphs (b)(i) or (ii), the any, attached hereto by the Company is the entire policy an indebtedness secured by a purchase money mortgage Compan� s obligations to the msured under this policy and contract between the insured and the Company. In given by a purchaser from the msured, or only so long for the c aimed loss or damage, other than the payments interpreting any provision of this policy, this policy as the msured shall have liability by reason of covenants required to be made, shall terminate, including any shall be construed as a whole. of warranty made by the insured in any transfer or liability or obligation to defend, prosecute or contmue (b) Any claim of loss or damage, whethet or not conveyance of the estate or mterest. This policy shall any lit�gation. based on negligence, and which arises out of the status not continue in force in favor of any purchaser from the 7. DETERMINATION, EXTENT OF LIABILITY of the title to the estate or interest covered hereby or by insured of either (i) an estate or interest m the land, or AND COINSURANCE. any action asserting such claim, shall be restricted to (ii) an indebtedness secured by a purchase money This policy is a contract of indemnity against actual this olic mortga� geg iven to the insured. monetary loss or damage sustained or incurred by the P c No amendment of or endorsement to this 3. NOTi(,'E OF CLAIM TO BE GIVEN BY insured claimant who has suffered loss or damage by �� INSURED CLAIMANT. reason of matters insured against by this policy and only Policy can be made except by a writing endorsed hereon The insured shall notify the Company promptly in to the exYent herein described. or attached hereto signed by either the President, a Vice wfiting (i) in case of any litigation as set forth in Sechon (a) The liability of the Company under this policy �esident, the Secretary, an Assistant Secretary, ot 4(a) below, (ii) in case knowledge shall come to an shall not exceed the least of: validating officer or authorized signatory of the insured hereunder of any claim of title or interest which (�� the Amount of Insurance stated in Schedule A; Company. is adverse to the title to the estate or interest, as insured, or, and which might cause loss or damage for which the (ii) the difference between the value of the insured 16. SEVERABILITY. Company may be Lable by virtue of this policy, or (iu) estate or interest as insured and the value of the insured [n the event any provision of the policy is held if title to the estate or interest, as insured, is re�ected as estate or interest subject to the defect, lien or invalid or unenforceable under applicable law, the u�amarketable. If prompt notice shall not be given ro the encumbrance insured agamst by this policy. policy shall be deemed not to include that provision and Company, then as to the insured all liability of the �b) (This paragraph dealing with Coinsurance was all other provisions shall remain in full fotce and effect. Company shall terminate with regard to the matter or matters for which prompt notice is reqmred; provided, removed from Florida policies.) 17. NOTICES, WHERE SEN'I'. however, that failure to notify the Company sF�all in no (c) The Company will pay only those costs, All notices required to be given the Company and case pte�Iudice the rights of any insured under this policy attorneys' fees and expenses incurred in accordance with any statement in writing required to be furnished the unless the Company shall be prejudiced by the failure Section 4 of these Conditions and Stipulations. Company shall include the number of this policy and and then only to the extent of the pre'udice. 8. APPORTIONMENT. shall be addressed to the Company, Attention: Claims 4. DEFENSE AND PROSECUTI�N OF ACTIONS• If the land described in Schedule A consists of two or Department, 1 First American Way, Santa Ana, DITI'Y OF INSURED CLAIMANT Ta more parcels which are not used as a single site, and a Cal�fornia 92707. COOPERATE. loss is established affectin one or more of the arcels (a) Upon written request by the insured and sub'ect to but not all, the loss shall be com uted and settled on a the options contained in Sect�on 6 of these Con�itions P and Stipulations, the Company, at its own cost and pro rata basis as if the amount of insurance under this without unreasonable delay, shall provide for the policy was divided pro rata as to the value on Date of defense of an insured in liUgation �n which any third Policy of each separate parcel to the whole, exclusive of party asserts a claim adverse to the title or interest as any improvements made subsequent to Date of Policy, msured, but only as to those stated causes of action unless a liability or value has otherwise been agreed alleging a defect, lien or encumbrance or other matter upon as to each parcel by the Company and the insured insuredagainst by this policy. The Company shall have at the time of the issuance of this olic and shown b the right to select counsel of its choice (subject to the P Y Y right of the insured to object for reasonable cause) to an express statement or by an endorsement attached to represenl the insured as to those stated causes of action this policy. and shall not be liable for and will not pay the fees of 9. LIMITATION OF LIABILITY. any othet counsel. The Company will not pay any fees, (a) If the Company establishes the title, or removes costs or expenses incurred by the insured in the defense the alleged defect, lien or encumbrance, ot cures the of those causes of action which allege matters not �ack of a right of access to or from the land, or cures the insured against by this policy. claim of unmarketability of title, all as insured, in a (b) The Company shall have the right, at its own cost, reasonabl dili ent manner b an method, includin to mstitute and prosecute any action or proceeding or to Y g Y Y g do any other act which in its opinion may be necessary ��tigation and the completion of any appeals therefrom, or des�rable to establish the tiUe to the estate or interest, it shall have fully performed its obligahons with respect as insured, or to prevent or reduce loss or damage to the to that matter and shall not be liable for any loss or insured. The Company may take any appropriate action damage caused thereby. under the terms of this policy, whetFier or not it shall be (b� In the event of any litigation, including litigation liable hereunder, and shall not thereby concede liability by the Company or with the Company's consent, the or waive any provision of this policy. [f the Company Company shall have no liability for loss or damage until shall exercise �ts tights under this paragraph, it shall do there has been a final determination b a court of so diligently. Y (c) Whenever the Company shall have brought an competent jurisdiction, and disposition of all appeals action or interposed a defense as required or permitted therefrom, adverse to the title as insured. by the provisions of this policy, the Company may (c) The Company shall not be liable for loss or pursue any litigation to final determmation by a court of damage to any insured for liability voluntarily assumed competent �unsdiction and expressly reserves the right, by the insured in setding any claim or suit without the in its sole discretion, to appeal from any adverse prior written consent of the Company. judgment or order. 10. REDUCTION OF INSURANCE; REDUCTION (d) In all cases where this policy permits or requires OR TERMINATION OF LIABILITY. the Company to prosecute or prov�de for the defense of any action or proceeding, the msured shall secure to the All payments under this policy, except payments Company the right to so prosecute or provide defense in made for costs, attorneys' fees and expenses, shall the action or proceeding, and all appeals therein, and teduce the amount of the insurance pro tanto. permit the Company to use, at its opt�on, the name of 11. LIABILITY NONCUMULATIVE. the insured for t6is purpose. Whenever requested by the It is expressly understood that the amount of Company, the insured, at the Compan s expense, shall �nsurance under this policy shall be reduced by any give the Company all reasonable aid (i� in any action or amount the Com an ma a under an olic proceeding, secunng evidence, obtaining witnesses, P Y Y P Y Y P Y prosecuting ot defending the action or proceeding, or insuring a mortgage to which exception is taken in effecting setAement, and (iil in any other lawful act Schedule B or to which the insured has agreed, which in the opinion of the �ompany may be necessary assumed, or taken subject, or which is hereafier or desirable to establish the title to the estate or interest executed by an insured and which is a charge or lien on as insured. If the Company is prejudiced by the failure the estate or interest described or referred to in Schedule of the insured to furnish the requ�red cooperation, the A, and the amount so paid shall be deemed a payment Company's oblig�ations to the insured under the policy under this policy to the insured owner. shall terminate, including any liability or obligat�on to 12. PAYMENT OF LOSS. defend, prosecute, or cont�nue any litigation, with regard to the matter or matters reqwnng such (a) No payment shall be made without producing cooperation. this policy for endorsement of the payment unless the 5. PROOF OF LOSS OR DAMAGE. policy has been lost or destroyed, in which case proof of In addition to and after the notices required under loss or destruction shall be furnished to the satisfaction Section 3 of these Conditions and Stipulations have of the Company. been provided the Company, a proof of Ioss or dama e ro� When liability and the extent of loss or damage signed and sworn to by the msured claimant shall �e has been definitely fixed in accordance with these furnished to the Company within 90 days after the Conditions and Sti ulations, the loss or dama e shall be insured claimant shall ascertain the facts grvmg rise to P g the loss or damage. The proof of loss or damage shall payable within 30 days thereafter. describe the defect in, or I�en or encumbrance on the 13. SUBROGATION UPON PAYMENT OR title, ot other matter insured against by this policy which SETTLEMENT. wnstitutes the basis of loss or damage and shall state, to (a) The Comp�'s RjEht of Subrogation. the extent possible, the basis of calculating the amount Whenever the Company shall have setded and paid a of the loss or damage. If the Company is prejudiced by claim under this policy, all right of subrogation shall the failure of the insured claimant to provide the vest in the Company unaffected by any act of the required proof of loss or damage, the Company's �nsured claimant. obligations to the insured under the policy shall The Com an shall be subro ated to and be entitled termmate, including any liability or obligation to P Y g defend, prosecute, or continue any litigahon, with to all rights and remedies which the insured claimant regard to the matter or matters requirmg such proof of would have had against any person or property in loss or damage. respect to the claim had this policy not been issued. If [n addition, the insured claimant may reasonably be requested by the Company, the insured claimant shall tequired to submit to examination under oath by any transfer to the Company all rights and remedies against authonzed representative of the Company antl shall any petson or property necessary in order to perfect this produce for examination, inspection and copying, at ri ht of subro ation. The insured claimant shall ermit such reasonable times and places as may be des�gnated g g P by any authorized representative of the Company, all the Company to sue, compromise or settle in the name records, books, ledgers, checks, correspondence and of the insured claimant and to use the name of the memoranda, whether beanng a date before or after Date insured claimant in any transaction or litigation of Policy, which reasonab7y pertain to the loss or involving these rights or remedies. damage. Further, if requested by any authorized if a payment on account of a claim does not fully representative of the Company,. the insured claimant cover the loss of the insured claimant, the Company shall grant rts permission, in wntmg, for any authorized shall be subro ated to these ri hts and remedies in the representative of the Company to examine, mspect and g g copy all records, books, ledgers, checks, corzespondence proportion which the Company's payment bears to the and memoranda in the custody or control of a third Whole amount of the loss. party, which reasonably pertain to the loss or damage.