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CERTIFICATES OF ERROR AND OMMISSION INSURANCE TO THE CITY AND CERTIFICATES OF FIDELITY COVERAGE ~ I C I TtY 0 F C LEA R W ATE R Inter~partment Correspondence Sheet TO: Robert Hhitehead, City Clerk FROM: Joe HcFate, Housing Coordinator COPIES: SUBJECT: Agreement with u.s. Homes cbrtgage Corporation for Loan Servicing DATE: January 15, 1976 The Servicing Agreement betueen the City and U. S. Homes :lortgage Corporation requires, in Paragraph 6, the servicer to provide Certificates of Error and Omission Insurance to the City, and Certificates or Fidelity Coverage. The servicer has furnished us with copies of both applicable policies, whidl are attached for your files. Should you need further infoL~ation or a different form of Certification, please let me know and I will secure from u.S. Homes iJortgage Corporation. dt!n Attachment . ",.,'-,'i'''''e....-- /,i ,j Ltl r' {, (~ -1- C?.-uJ'Vt?7- 1 I- (" Cf. l tJ ;/ '1/1" 1.,.-..-- : L " , ~...<.-_,.." a, t C{:/r'l.t.,\ / I '\..) Y"). ..-"1..._"",r--. ~ *, (~ ,(~ /l . I \ / , , {~ .....,.;,,/.1" 'v / -' L. 5"-' / L /l ;J;:: , (.0",. ' c; {-;- - (--- 3-']' 'it::. ! [US<Home} I U.S. HOME CORPORATION 1437 South Belcher Road · Clearwater. Florida 33516 (813) 531-0441 --"f,~ October 21, 1974 Mr. Bernie Franklin U. S. Horne Mortgage Corp. 50 S. Belcher Rd., Suite 111 Clearwater, Florida 33518 Re: Crime Insurance Dear Bernie: Attached is a copy of the blanket Crime Insurance Policy covering U. S. Horne and its wholly-owned subsidiaries which includes U. S. Horne Mortgage Corporation which provides coverage in the amount of $1,000,000 coverage blanket for the following: 1. Employee Dishonesty 2. Monies and Securities Inside the Premises 3. Monies and Securities Outside the Premises 4. Money Orders and Counterfeit Paper Currency 5. Outgoing Depositor's Forgery This policy is still in effect and premiums have been paid up to date. This is to certify that the attached is in full force and coverage is afforded to U. S. Horne Mortgage Corporation as per your request. Very truly yours, f)6~ Kenneth D. Buller Risk Insurance Manager KI1B:csh Att. ~ .-" " ',",:"'.,' ., ... \~' I I .1 '-- ..":!J.! .."4~ ' "'~",. ~,.;~,,>:(..:o-.>J: "~:",.~~;,,:'If-. ~ -""V', ';-r;~:"'_~~:" --r- -~.. I insurance - ...., The Travelers Indemnity Company J Hartford, Connecticut The Company, in consideration of the payment of the premium, and subject to the Declarations made a part hereof, the General Agreements, Conditions and Limitations and other terms of this Poli,y, agrees with the Insured to pay the Insured for: I. Loss of Money, Securities and other property which the Insured shall sustain through any fraudulent or dishonest act or INSURING AGREEMENTS EIVIPLOYEE DISHONESTY COVERAGE acts committed by any of the Employees, acting alone or 111 collusion with others, LOSS INSIDE THE PRElV]./SES COVERAGE II. Loss of Money and Securities by the actual destruction, dis- Damage to the Premises by such Safe Burglary, Robbery or appearance or wrongful abstraction thereof within the Premises or felonious abstraction, or by or following burglarious entry into within any Banking Premises or similar recognized places of safe the Premises, or attempt there~t, provided with respec~ to, damage deposit, to the Premises the Insured IS the owner thereof or IS liable for L f () h I S f I) I I> 11 'tl ' such damage, oss 0 a ot er property JY a e >urg ary or ,-0) )ery WI lIn L I I' 11 'th' th I) 'f E I ee of . . oss oy '0) )ery WI In e remises rom any mp oy the Premises or attel,npt thereat, ~nd (b) a l?cked cash dra~ver, Money or checks paid to such Employee from Payroll Funds c<~sh, box orcas~ register by felomous entry 1I1tO. such contal~ler during the work period when such Robbery occurred, provided wIth 111 the Prenllses or attempt thereat or by felonIOus abstractIOn there was on the same occasion a Robbery or attempt thereat of such container from within the Premises or attempt thereat. from a Custodian, /'fJSS (JliISlllI,: TilL III. _ Lr>ss of Mouey alld Securities I,y the actllal destruction, dis- appearance or wrollgful abstr;1ction thereof ontside the Premises while heiug conveyed hy " I\lcsscng('r or any ;1('J)wred uJ()tor vl'hide coulpauy, or whil(~ withill the livillg ,!lIarters iu the hOlue of allY Messeug('r. 1'1< 1,:rvIISI':S ('( JVi-:I<A( ;1': Loss of other property by Robbery or attempt thereat outside the Premises while being conveyed by a Messenger or any armored lllotor vehicle company, or by theft while within the living <)Ilarters in the honle of any Messenger. !\10NEY OJ<l>I':RS AND COUNTERFI~IT PAPER CURRENCY COVERAGE IV. Loss due to the acceptance in good faith, in exch;1nge for upon presentation. or due to the acceptance in good faith in the merchandise, Money or services, of any post of lice or express regldar course of bustness of counterfeit United States or Ca- money order, issued or purporting to have been issued by any nadian paper currency. post office or express company, if such money order is not paid DEPOSITORS FORGERY COVERAGE V. Loss which the Insured or any bank \\'hich is included in the I nsured's proof of loss and in which the I nsured carries a checking or savings acconnt, as their respective interests may appear. shall slIstainthrongh forgl'ry oralll'ration of, OIl or in any check, drafl, prollliSSflry 1I0h', I.ill of ('xt'h;lIq..~t'. or silllibr wrillt'll pntllli~~l'. Older or directioll t(l PdY;\ SlIllI n'rLlil\ ill 11l01lCY. III;HIe or drawn by or drawn npon the Insured, or made or drawn by one actin" as agent of the I nsured, or purporting to have been made or drawn as hereinbefore set forth. including (;1) any check or draft made or drawn in the name of the Insured, payable to a fictitious p;1yee and endorsed in the name of such fictitious payee; (b) an)' check or dmft procured in a face to face transaction with the Insured, or with one acting as agent of the Insured, by ;1nyone impersonating another and made or drawn payable to the one so impersonated and endorsed , by an)'one other than the one so impersonated; and (c) any payroll check, payroll draft or payroll order made or clr;l-tm by the' Insured, payabll' to bmrer as well as to " named payee and endorsed by anyone other than the named payee without authority from such payee; whether or not any endorsement mentioned in (a), (b) or (c) be a forgery within the law of the place controlling the construction thereof. 5.1692 5.69 PRINTEO IN U,5,A, BLANKET CRIME POLICY (Be) (570) :\Iechanically reproduced facsimile signatures are treated the same as handwritten signatures, The I nsnred sh;11l be entitled to priority'of ()ayment over loss sllSlaill('d bY"I'y b;lllk ,,(ores;,id, Loss IIlIder this [lIsllrillg Agrl'l'- nl('nt, whethl'r slIs(ained hy the Insureu or such balik, shall be paid directly to the Insured in its own name, except in cases where such bank shall have already fully r,eimbursed the Insured for such loss, The liability of the Company to such bank for such loss sh;11l be a p;1rt of and not in addition' to the amount of insurance applicable to the I nSllred's office to which such loss would have been ;1lloc;1tcd had such loss been sustained by the Insured. If the Insllred or such bank shall refuse to pay any of the fore- going instruments made or drawn as hereinbefore set forth, alleging that such instruments are forged or altered, and such refusal shall result in sllit being brought against the Insured or such bank to enforce such payment and the Company shall give its written consent to the defense of such suit, then any reasonable attorneys' fees, court costs, or similar legal expenses incurred and paid by the I nsured or such bank in such defense shall be con- strued to be a loss under this Insuring Agreement and the liability of the Company for such loss shall be in addition to any other liability under this Insuring Agreement. J......,.,. .........J.. l~ .' ..;,~. ..~ -!J-'~ "''''''~f;:'t-.is~~:-?i.~th!~~?;t.I~.~~\':;I';l'''N'': .~.-.....7l'.("~,~j.i,j.....";..I"AW-::~,"''O.....,._.... f~~,"~t'".t.'";f';'''~;~t.A''' 1.-..... t-........,: ',.' ..... ~~$ 111'....' .~. I :" 1 t~ ; I', f ~ I J; ':' I The Travelers I Indemnity Company 7' Hartford, Connecticut (A Stock Company, herein called the Company) POLlCY NO. TRBC 974827_ DECLARATIONS: POLICY FO~a,,\ ;",Cj. Item 1. Name of Insured: (herein called the Insured) U. S. Home Corporation and its wholly owned Subsidiaries (including Stuart-So Golding Corporation) 1437 South Belcher Road Clearwater, Florida 33516 Principal Address: Item 2. Policy Period: from noon on September 1, 1972 (month, day, year) the cancellation or termination of this Policy, standard time at the Principal Address as to each of said dates. to noon on the effective date of Item 3. Limit of Liability: Blanket Crime Policy-Total Limit of Liability u~_ Comprehensive ODD Policy-Table of Limits of Liability 1$1,000,000 Insuring Agreement Coverage Limit of Liability Employee Dishonesty-Form A J~K~.!:~gate~_l!1i!~Jiability as to all employees) u___ Employee Dishonesty-Form B J!i~it of liability as to each employee) Loss Inside the Premises Loss Outside the Premises ---~------------~--~-~--_. rvToneL9r~E_s__and Counterfeit Paper Currency Depositor Forgery t t t t ,_ ,_ tOther coverages if added by endorsen~e[1t The insurance afforded is only with respect to such coverage as is indicated by specific entry of a limit of liability. Absence of an entry means that ~1~) insurance is aff~Q~d with respect thereto. Item 4. The liability of the Company is subject to the terms of the endorsements attached hereto: Sl.OOO .000 II III IV V $ Sl.OOO.OOO $1 ,000,000 $1,000 ,000 $1,000,000 $ S $ $ Item 5. The Insured by acceptance of this Policy gives notice to the Company terminating or canceling pnor bond(s) or policy(ies) No.(s) . ,.such termination or ~ancellation to be effective as of the time this Policy becomes effective. Date of Issue September t..,_J972 -P J.g ltf-:-' '7 Countersigned by~:c'~ , . '- .--<.-L','i", . / 1;:-...... 1/ ,1 (o' J--'v~"~ THE DECLARATIONS PAGE AND ALL ENDORSEMENTS ISSUED TO FORM A PART HEREOF, TOGETHER WITH THE POLICY JACKET BEARING THE POLICY FORM NUMBER STATED ABOVE, FORM YOUR COMPLETE INSURANCE POLICY. "",;.-.;;,....:.:.0.-....:.......-.......;. ."-,,' '''';' S.2099 Rev.9-69 PRINTEO IN U.5,A, .. ~~- ~"','~J ~.~, : :.....;,~J.;.~~:..!;:. -,,;, '.~-~ ~.~ 1'~:~ .~T~~~f , . ,.: {....'.. . ...t..... ~ .~ ...L:o...... .~ '1 GENERAL AGREEMENTS I LOSS U"fJER PRIOR BOND OR POLICY C. I f the coverage of this Policy is substituted for any prior bond or policy of insurance carried by the Insured or by any pre- decessor in intercst of thc I nsured, which prior bond or policy is tcrminatcd. cancelcd or allowed to expire as of the time of such substitutiou, the Company agrees that this Policy applies to loss which is disco\'Cred as provided in Section 1 or the Conditions and Limitations and which would have been recoverable by the Insured or such predecessor under such prior bond or policy except for the fact that the time within which to discover loss thereunder had expired; provided: ' (1) t he insurance under this General Agreement C shall be a part of and not in addition to the amount of insurance afforded by this Policy; , (2) such loss would have been covered under this Policy had this Policy with its agreements. conditions and limitations as of the time of such substitution been in force when the acts or events causing such 1055 were committed or oc- curred; and (3) recovery under this Policy on account of such loss shall in no event cxcecd the amount which would have been recoverable under. the coverage of this Policy applicable to such loss in the amount for which it is written as of the time of such substitution, had this Policy been in force when such acts or events were committed or occurred, or the amount which would have been recoverable under such prior bond or policy had such prior bond or policy con- tinucd in force until the discovery of such loss, if the latter amount be smaller. THE FOREGOING INSURING AGREEIVIENTS A\D GEI'\ERAL AGREEMENTS ARE SUBJECT TO THE FOLLOWING CONDITIONS AND LIMITATIONS: POLICY PERIOD, TERRITORY, DISCOVERY (g) to loss of insured property while in the custody of any armored motor vehiclc company, unless such 1055 is in cxcess of the amount recovered or received by the Insured under (1) the Insurcd's contract with said armored motor vehicle company, (2) insurance carried by said armored motor vehicle company for the benefit of users of its service, and (3) all other insurance and indemnity in forcc in whatsoever form carried by or for the benefit of users of said armored motor vehicle company's service, and then this Policy shall cover only such excess; (h) undcr Insuring Agreements 1I and Ill, to loss due to nuclear reaction, nuclear radiation or radioactive con- tamination, or to any act or condition incident to any of the foregoing; (i) under Insuring Agreement ll, to 1055, other than to money, securities, a safe or vault. by fire whether or not sllch lirc is caused by, contributed to by or arises out of the occurrence of a hazard insured against. CONSOLI DATIOJMERGER A. If, through consolidation or nH'r>(er with. or purchasc of assets of. some other conccrn. any persons shall become Employces or if thc I nsured shall thereby acquirc the use and control of any additional Premises, thc insnrancc affordcd by this Policy shall also apply a~ re"pects slICh Employces and Premises, provided the Insured shall gin~ the Company written notice thereof within thirty days thereaftcr a:\d sh:lIl pay the Company an additional prt'lnilllll ('onIPlllt'd pro rata from the datc of such consolidation. Ilwrfll!r or jlmch.lsc to the end of thc current premium pcriod. jOlr\T INSlIRED B. If morc than one lusured is COYcfl~d uudt'r this Policy, the Insured first uamed shall act for itself and for eycry othcr InSllred for all purposes of this Policy, Knowlcdge posscsscd or disco\'erY made by auy J nsured or by any partuer OJ ofticcr thcreof shall. for the purposcs of Scctions 7. 8 aud IS. constitute knowledgc pos. sesscel ordiscoyery made hy eyery I nsmcd. Cancelation of the insurance hcreundcr as respects anv Employee as provided in Section IS shall apply to eyery I nsured, If, prior to the cancelation or tcrmiuation of this Polin'. this ('olicy is canceled or tcrminatcd as to any Insured, thcre sh:'t11 be no lialiility for any loss sustained hy such Insured unless discoycrcd within onc \'ear from thc date of such cincelation ur tcrmination, I'ayment by thc Company to thc Insured (Irst namcll uf 'lilY loss undcr this Policy shall fully release the Company on account of such loss, If the lnsnrcd lirst named ceases for any reason to be cu\'cred under this Policy. then the Insured ncxt named shall thercaftcr bc considcred as thc Insured first named for all purposcs of this Policy. Scction 1. Loss is coyercdnnder this Policy only if discovcrcd not later than one year from the cnd of the Policy Period, Subject to General Agrccmcnt C.this Policy applics only to loss which occurs dming thc Policy Period within any of the Statcs of the United States of America, thc District of Columbia, Virgin Islands, Puerto Rico, Canal Zone or Canada, cxccpt that with respcct to Insuring Agrecment I, it applies to loss sustained through fraudulent or dishoncst acts committed during the Policy Pcriod by any of the Employces cngagcd in the regular service of the I nsurcd within thc tcrritory designated above or while such Employees are clsewhcre for a limited period. EXCLUS10:\S Section 2, This I'olicy docs not apph': (a) to loss duc to any frandulcnt, dishoncst or criminal act by any Insured or a partner thcrein, whethcr acting alonc or in collusion with othcrs: (b) to loss, or to that part of any loss, as thc case may he, the proof of which. cithcr as to its factual existence or as to it~ amount, is dcpendcnt Up<)1l an invcntory' computation or a prolit and loss computat ion; pro\'ided, howcycr. that this paragraph shall not apply to loss of "loncy, Sccuritics or other property which the I nsurcd can prove, through evidencc wholly apart from such computations, is sus- tained by the Insured through any fraudulent or dishoncst act or acts committed by auy one or more of the Em- ployees; (c) under In,urin>( Agreements 11 and 111, to loss duc to any fraudulent, dishoncst or criminal act by an Employce, director, trustee or '\llthorized rcprcsentative of any In. sured, while working or othcrwisc and whether :\cting alonc or in collusion with others; pro\'ided, this Exclusion docs not apply to Safe Bnrglary or Robbery or attempt therca t; (d) to loss tlue to "'ar, whcther or not declarcd, civil war, insurrcction. rebellion or reyolution, or to anY act or condition incidcnt to ;1I1Y of the foregoing; . (e) under Insuring .\greclllents ]1 and III, to loss (1) due to ,,'10- the g(ving or surrendcring of "loney or Securitics in any exchange or purchase; (2) due to accounting or arithmeti. cal errors or omissions; or (3) of manuscripts, books of account or records; (f) undcr Insuring Agrecmcnt II. to loss of Money containcd in coin operated amusement devices or vending machincs, lInlcss the amount of I\loney dcposited within the devicc or machine is recordcd by a continuous recording instrument therein; < ",~, ~; j I i I I , , DEFINITIONS Section 3. Thc following terms. as used in this Policy, shall ha\'c the respective meanings stated in this Section: "Money" means currency. coins, bank notes and bullion; and travclers checks, register checks and money orders held for sale to the public. "Securities" means all negotiable and non-negotiable instru- ments or contracts representing either Money or other property and includes revcnue and other stamps i['\ current use, tokens and tickets, but does not include Money. "Employee" means any natural person (cxcept a director or trustcc of the Insured, if a corporation. who is not also an officer or employce thereof ill some other capacity) while in the regular service of the Insurcd in the, ordinary course of thc Insured's business during the Policy Period and whom the Insured com- pensatcs by salary, wages or commissions and has the right to gO\'ern and direct in thc performance of such service, bu t does not meall any broker, factor, commission merchant. consignee, con- tractor or other' agcnt or represcntative of the same general character. :\s applied to loss undcr Insuring Agrcement I, the above words "whilc in the regular service of the I nsured" shall includc the f,rst 30 days thereafter; subject, however, to Sections IS and 16, "Premises" means the interior of that portion of any building which is occupied by the Insured in conducting its business. "Banking Premises" means thc interior of that portion of any building which is occupied by a banking institution in conducting its business. "Messenger" means the Insured or a partner of the Insured or any Employee who is duly authorized by the Insured to have the care and custody of the insured property outside the Premises. ;. I "Custodian" mean,; Ihe In,;ured "I' a partner of the In,,,,red "I' aliI' E'21ployeewho is dilly auth"riZl'd II' the I '''" red to hal'<' .the . care and custody of the insured prol -rty withi" the Premise,;. exdudi"'g any per,;on while acting .., a watchman, porter or j;lIlitor. "Robbery" meallS Ihe lakin;.: of i'lSured property (1) by vi", lence ioflicted UpOIl a l\lessclI;.:er or it Custodiau; (2) by puttin;.: him ill fear of violence; (3) 1)\' ;1I1Y oth"r overt felollious act c"m. milled ill hi,; presellce ;lIld of which he w"s actn;dly co;.:nizallt. provided such olher act i,; not COllllllit ted by a p;lrtner or Em- ployee of the III,;ured; (-1) from the persoll or direct care and custody of a i\lt,ssen;.:er or Custodiau who h;\s beell killed or rendered UlIl'lllIseillu,;: or (S) Illlder Insllrill;': :\greemellt II, (a) frolll with ill the Premises In' mealls of compellillg a ;\Ie,;,;ell;.:er or Cu,;(mli;lu bv viole lice or thre;lt of I'iokllce while outside lilt' !'remi,;es to ;,dmit ;\ persoll illto the I'remi,;es Ill' to fUrJIish him wit h mealls of ingress int 0 I he 1 'rem i'se,;. or (b ) from" showca,;e or 'show willdow wilhill Ihe Premises while regularly opell for busi, lIess, by a person who has brokell the gl;ISS thereof from outside the Premises, "Safe Burglary" means (1) lhe felcJlliou,; abstractioll of ill,;ured property from within a vaull or safe. lhe door of I\hich i,; equipped with a combinatioll lock. located withill the !'remises by a per,;oll makillg felollious elltry into such vault or ,;uch safe and any vault cOlltaining the ,;afe, wheu all door,; Ihereof are duly closed alld locked by all combillatioll locks thereoll, provided such elltry shall be made by actual force alld violence. of which force alld viole lice there are visible mark,; made by tools, explosives. electricity or chemicals UpOIl the exterior of (a) all of ,;aid doors of such vault or such safe and any vault containing the safe. if entry is made through snch doors. or (b) the top. bottom or walls of such \'alllt or such safe and any \';udt cont;lining the safe through which entry is made. if not made throllgh snch doors. or (2) the fe- lonious abstraction of such safe from within the I'remi,;es. "Payroll Funds" means l\loney ;lnd Securities intended soleh' for the payroll of the Insnred, "Loss," except nnder I nsnring Agreements I and V. inclllde,; damage, LOSS CAUSED BY UN IDENT] FIAIH.E Ei\1 PLOYEES Section -1. If a loss is alleged In have heen caused hy the fralld or dishonesty of anyone or more of the Employees and the Insured shall be unable to designate the specific Employee or Employees callsing such loss, the I nSllrcd shall ne\'ert heless have the benefit of I nS<lring A;.:rcement I, subject to the provisions of Section 2(b) of this Policy. provided that the evidence snhmitted reasonably proves that the loss was in fan due to the fraud or dishonesty of one or more of the s;lid Enlployees, and provided, further, that the aggregate liability of the Company for any snch loss shall not exceed the Total Limit of Liability, OWNERSHIP OF PROPERTY; INTERESTS COVERED Section 5, The insured propl'rt I' ill;IV be owned by the Insured, or held by the Insured in ;\111' capacity whether Or not the I nsnred is liable for the los,; thereof. or may be property a,; respects which the Insilred is legall\' liable; pro\'ided, I llSuring Agreements II. III and 1\' applv uuh' to the interest of the Insured in such property. includillg the Insured's liability to others. and do not apply to the interest of any other person or organization in any of said property unless included in the Insured's proof of 10"'. in which el'ent the third paragraph of Section 8 is applicable to them, /lOOKS A;.;n In:CORDS Section 6, The I nsured shall keep records of ;111 the insured property in such manner that the Company can accurately de- termine therefrom the amount of loss, PRIOR FRAUD. DISHONESTY UR CANCELATION Section 7, The co\'erage of this Policy ,;hallnot apply to any Employee from and after the time that the Insured or any partner or officer thereof not in collusion wilh ,;uch Employee shall have knowledge or information that sllch Employee has committed any fraudulent or dishonest act in the service of the Insllred or other- wise, whether such act be committed before or after the date of empfoyment by the Insured, If. pr.~,to the is"'uance of this Policy. any fidelity insurance in favor of the Insured or any predeces,;or in interest of the Insllred and covering one Or more of the I nsured's Employees shall have been canceled as to any of such Emplol'ees by re;\son of the giving of written notice of cancelation hy the illsurer issuing such fidelity insurance, whether the Company or not, and if such Employees shall not have been reinstated nnder the coverage of said fidelity insllrance or sllpen;edin;.: fidelity insurance. the Company shall not be I.iahle on ilc("IJllt of sllch Employees unless the Company shall agree in writ g to include such Employees within the coverage of Ihis Pol,:y, LOSS-NOTI CE-PROOF-- ACTION AGAIi':ST CO;VIPANY Section R, lJ pon knowledge or discovery of loss or of an occur. rence which may give rise to a claim for loss, the Insured shall: (a) give notice thereof as soon as practicable to the Company or any of its authorized agents and. except under Insuring Agree. nlents I and V, also to the police jf the loss is due to a violatiQn of' law; (1)) file detailed proof of Joss, duly sworn to, with the Com. pany within four months after the discovery of loss: Proof of loss under I nsnring Agreement V shall inClude the instrument which is the basis of claim for such loss, or if it shall be impossible to file such instrument,the affidavit of the.lnsured or the Insured's bank of deposit setting (orth the amount and cause of loss shall be accepted in lieu thereof. Upon the Company's request, the Insured shall submit to examination by the Company, subscribe the same, under oath if required, and produce for the Company's examination all per- tinent records, all at such reasonable times and places as the Company shall designate, and shall cooperate with the Company in all matters pertaining to loss or claims with respect thereto, ;.; 0 action shall Ije against the Company unless, as a condition precedent thereto. thfre shall have been full compliance with all the term6 of this Policy. nor until ninety days after the required proofs of loss have been filed with the Company, nor at all unless commenced within two years from the date when the Insured discover,; the loss, If any limitation of time for notice of loss or any legal proceeding herein contained is shorter than that per- lilitted to be fixed by agreement under any statute controlling the construction of this Policy, the shortest permissible statutory limitation of time shall govern and shall supersede the time limitation herein stated, V ALUATION--PA Yl\1 ENT-REPLACEMENT Section 9, I n no event shall the Company be liable as respects Securities for more than the actual cash value thereof at the close of business on the business day next preceding the day on which the loss was discovered, nor as respects other property, for more than the actual cash value thereof at the time of loss; provided, however, the actual cash value of such other property held by the I nsured as a pledge. or as collateral for an advance or a loan, shall be deemed not to exceed the value of the property as determined and recorded by the I nsured when making the advance or loan, nor, in the absence of such record, the unpaid portion of the advance or loan plus accrued interest thereon at legal rates. The Company may. with the consent of the I nsured. settle any claim for loss of property with the owner thereof. Any property for which the Company has made indemnification shall become the property of the Company. I n case of damage to the Premises or loss of property other than Securities. the Company shall not be liable for more than the actual cash value of such property, or for more than the actual cost of repairing such Premises or propertyor of replacing same with property or material of like quality and value, The Company may. at its election, pay such actual cash value, or make such repairs or replacements, If the Company and the I nsured cannot agree upon such cash value or such cost of repairs or replace- ments, such cash value or such cost shall .be determined by arbitration. RECOVERIES, Section 10, If the I nsured shall sustain any loss covered by this Policy which exceeds the applicable amount of insurance hereunder, the I nsured shall be entitled to all recoveries (except from suretyship, insurance, reinsurance, security or indemnity taken by or for the benefit of the Company) by whomsoever made, on account of such loss under this Policy until fully reo imbursed. less the actllal cost of effecting the same; and any remainder shall be applied to the reimbursement of the Company. TOTAL Lll\11T OF LIABILITY Section 11. Payment of loss under this Policy shall not reduce the liability of the Company under this Policy for other losses; provided, however, that the total liability of the Company under this Policy on account of (a) all loss incidental to an actual or attempted fraudulent. dishonest or criminal act or series of related acts, whether committed by one or 1110re persons, at the Premises in ..' ... .'- ~'...i'."'.. . . \. (lid) l)o,EnijJllIYlT I~ r"lllh lTIH (I IH iilqJiIL~ttL'd uf ill Wijn'" there is no forJ.?;ery or alteration of an instrument covered under Insuring Agreement V, OJ (b) ;,lIloss, other than as speciticd il Ul) preceding, caused by acts or omissions of any person ,whether one of the Em- ployees or not) or acts or omissions in which such person is concerned or implicated, is limited to the Slim stated in Item J of the Declarations, The liability of the Company for l<>:.;s snsL,;ned 1,1' any or all of the Insnred shall not excced the '''l!Ount for which the Company would be liable had all such loss been sustained by anyone of the Insured. H eJ.?;a I'd less 'of the nnlll!.cr of years this Policy shall continue in force and the number of premiums which shall be payable or paid. the Company's total limit of liability shall,wt be cumulative from year to year or period to period. " LIMIT OF LIABILITY UNDER THIS POLlCY AND PRIOR INSURANCE Section 12, With respect to loss caused by any person (whether one of the Employees or not) or in which such person is concerned or implic~ted or which is charJ.?;eab1e toany Employee as provided in Section 4 and which occurs partly durinJ.?; the Policy Period and partly during the period of other bonds or policies issued by the Company to the Insured or to any predecessor in interestof the Insured and terminated or canceled or allowed to expire and in which the period for discovery has not expired at the time any such loss thereunder is discovered, the total liability of the Ct,~ll' pany under this Policy and under such other bonds or policies shall not exceed. in the aggregate, the amount carried under this Policy on such loss or the amount aV'lilable to the lusured under such i)ther bonds or policies, as limited by the terms and conditions thereof, for any such loss, if the latter amount be the larger, OTHER INSURANCE Section 13. If there is '1\'ailable to the Insured anv other insurance or indemnity covering any loss covered by this' Policy, the Company shall be liable hereunder only for that part of such loss which is in excess of the amount recoverable or recovered from such other insurance or indemnity; provided, except under In- suring Agreements I and V, the insurance under this Policy shall not apply (a) to property which is separately described and enu- merated and specifically insured in whole or in part by any other insurance; or (b) to property otherwise insured unless such property is owned by the Insured, The Company waives any right of coutribution which it may have against any forgery insurance carried by any depository bank which is indemnilied under Insuring Agreement V, SUBROGATIO:\ Section 14. In the evcnt of any payment under this Policy. the Company shall be subrogated to all the Insured's rights of 1'1" covery therefor against any person or organization and the Insured shall execute and deliver instruments and papers and do whatever else is necessary to secure such rights. The Insured shall do nothing after loss to prejudice such rights. (:'\I\L.I'.L,\ I ii..J:-" .'\~.., I v .-\.... 1 ~-';\li.IL\..i I Section 15, This Policy shall be deemed canceled as to any Employee: (a) immecf'.ltelY upon discovery by the Insured, or by any partner or officer ereof not in collusion with such Employee, of any fraudulent or ( shonest act on the part of such Employee; or (b) at noon, standard time as aforesaid. upon the effective date specified in a written notice mailed to the Insured. Such date shall be not less than fifteen days after the date of mailing, The mailing hy the Company of notice as aforesaid to the I nsured at the ad- dress shown in this Policy shall be sufficient 'proof of notice. Delivery of such written notice by the Company tihall be equiva- lent to mailing. CANCELATION OF POLICY Section 16. This Policy may be canceled by the Insured by mailing to the Company written notice stating when thereaft~r the cancelation shall be effective, This Policy may be canceled by the Company by mailing to the Insured at the address shown in this Policy written notice stating when not less thatt fifteen days thereafter such cancelation shall be effective: The mailing of notice as aforesaid shall be sufficient proof of notice, The effective date of cancelation stated in the notice shall become the end of the Policy Period, Delivery of such written notice either by the Insured or by the Company shall be equivalent to mailing. If the Insured cancels, earned premium shall be computed in accordance with the customary short rate table and procedure. If the Company cancels, earned premium shall be computed pro rata. Premium adjustment may be made either at the time cancelation is effected or as soon as practicable after cancelation becomes erfecti\'e, but payment or tender of unearned premium is not a condition of cancelation. 1\'0 BENEFIT TO BAILEE Section 17. This Section shall apply only to Insuring Agree- nients I I and II I. The insurance afforded by this Policy shall not inure directly or indirectly to the benefit of any carrier or other bailee for hire. ASSIGNMENT Section 18, Assignment of interest under this Policy shall not bind the Company until its consent is endorsed hereon; if, how- ever, the Insured shall die, this Policy shall cover the Insured's legal representative as Insured; provided that notice of cancela- tion addressed to the I nsured named in the Declarations and mailed to the address shown in this Policy shall be sufficient notice to effect cancelation of this Policy. CHANGES Section 19, ~otice to any agent or knowledge possessed by auy agent or by any other person shall not effect a waiver or a change in any part of this Policy or estop the Company from asserting any right under the terms of this Policy; nor shall the terms of this Policy be waived or changed, except by endorsement issued to form a part of this Policy signed by an officer or a duly authorized agent of the Company. By acceptance of this Policy the Insured agrees that it em- bodies all agreements existing between the Insured and the Company or any of its agents relating to this insurance. In witness whereof, The Travelers Indemnity Company has caused this Policy to be signed by its President and Secretary at Hartford, Connecticut, and countersigned on the declarations page by a duly authorized agent of the Company. r ~~ '". t7);;.~. ~ President '~.uo__!r""~~. 1.t..:..::.:..;~1,I).;......,..~ _,~, V'O'...~"".;lh.,.;.(.il~~'_~:;..\~~I,..I.~.I..,..,...~,~,,::;.....~:J..~>'~,.l t:l....".',...~ -l.~.r.fooo~>$,"~";"'''i(';;#. ~.'~" ~_..~ ." .; ~" .. , .~ /,-:~_ ," '4. 'I..._,.-r.to-;~?~(...;"",".~. r.~...'..:,..,:.....~'.....\...:::_...'~_.".......,J,t.,l\'.~~~~.::~_- ., (" I I *Effective from Amending Policy No. L\t the time of day the policy becomes effective) T-g74-828-72 SEPT 1 1974- *Issued to U S HOME CORPORATION ET AL *Office T AMP A 212 *Producer U S I NSURORS *Date of Issue FCM (* Asterisked items above need be completed only when the endorsement is issued suhsequent to the issuance of the policy.) It is agreed that, ,as of the effective date hereof, the policy is amcnded in the following particulars; FOR' THE POLICY PERIOD SEPT 1, 1974 TO SEPT 1, 1975 PREMIUM IS TO BE COLLECTED UNDER TPB BINDER NO. 71316 " . All other terms, valuations and conditions remain unchanged, This endorsement is executed on the reverse hereof. F-4607 REV. 2-69 PRINTED IN U. S. A. '--::~a~ -._A J Agent , ' ;Vi; ,No. '']'.974820-72 H i ~:: I I i IT Crl" ,[: i RENEWALClf-NUMBER- ,./ "I ,I ;'1 I 1n5~I_d'J N'''l1Q onll Moillnll Add"u I" (, 4;..I;UU6.OU, 'f, \..~., .I.,!.)", t,' ;~~i)n~u... aJ.hJ "O,)'UIlUll&. i "j /""', ".-- I.,-~O/j' "'~ pi cUA€/ c:v/rcvv-el;b'/;O ,/ c.2j("denV)("c~/~/n/~ty HartFord, Connecticut A CAPITAL STOCK COMPANY I i t U.s. Home CorporR.r,ion and U.S Norte~e Gorl'orat.io'1 1107 S. Reicher Road Cleal'1.!ater, Fla. 33516 Home L "I~ Ci-1-7? ~~I~CE:'~,ON (~o:, ~:YY:Orl'h O_l_?-( ExPIRATIClN (Mo. Doy Yeo,) -1 ~L_ YEARS ~ "..', /~ c'\ ,.' ~ ....;~-~ .~ -b II il Imporlan! rho! rhe wrilfen parlioO! of 011 policiel covering rhe lame properly read eXOelly alike, If rhey do nOI, lhey lhould be made uniform of once. INSURANCE IS PROVIOED A(~AINST ONLY TIIOSE PERII.S AND FOR O;-';LY TIIOSI: COVr'RAGES I;-';OICATED BELOW BY A PREMIUM CHARGE A;-';;:' AGAINST OTHER PERILS A:-ID FOR OTIIER COVER,\(;I',S O:-.iLY WilEN E;-';DORSED IIERI':ON OR ADDED HERETO. i'IU':!',\11l TER~f-1 A:-';;;;U;\Li.;X'C':-:II::f\;TI' S d' d RATE I'IU:MIlJ~1 DUI, DUE CNDEK DEI', I ERIL( ) Insure Agaln,st an Cover. AT I"CEPTION PRE~1. PAY. PLAN age(s) PrOVided (Insert l\;ame of Each) AMOUNT $ A"'- Pr:rr Form Att3.c~led xxxxxxx $ S S s TOTAL PREMIUM s S FIRE AND LIGHTNING S S EXTENDED COVERAGE $ S S S TOT AL(S) S S !'OR POLlCY TERM~I?~~ D, P. p, P. -i~--'-Atn.c;~-nt.Fj"re-o-rFrrel-.per--cen-t of I Neml and Extended,COV- Co.Insurance o. erage, or Other Peril Applicable Premium to 'he c,,' 1 ~"t,prl ",,(181" Tf'8 Binr'!er No. 611!19 DESCRIPTION AND LOCATION OF PROPERTY COVERED Show construction, type of roof and occupancy of building(s) covered or containing the property covered. If occupied as a dwelling state number of families. 1 1. - $, As Per Errors :!.!1d Omissions Form Atte.dwd 1 Subject to Form No(s). ??O-l (0-6r:;') ( ) ( ) attached hereto. . - INSERT FORM NUMaE:R S AND EDITION DATE S Mortgage Clause: Subject to the provisions of the mortgage clause attached hereto, loss, if any. on building items, shall be payable to: Countersignature Date ]-21-73 'fT INSERT NAME(S) OF MORTGAGEE(S) AND MAIL.JNG ADDRESS(ES) Agency at C18<lp.'Tater; F'1,q. A.gent IN CON.SIDERATION OF THE PROVISIONS AND STIPULATIONS HEREIN OR ADDED HERETO AND OF the premium above specified, this Comp:wy, for the term of years specified "bove from inception date shown above :\t Noon (StandanJTime) to expiration date shown above At Noon (Standard Ti#,ne) at location of property involved, to an amount not exceeding the amount(s) above specilied, docs insure the insured named above and le,;al representatives, to the extent of the actual cash value of the property at the time of loss. but not exceeding the amount which it would cost to repair or replace the property with material of like kind and Cjuality within a reasonable time after such loss, without ailowance for any increased cost of repair or reconstruction by rea~on of any ordinance or law regulating construction or repair, and withollt ('ompensation for loss resulting from inter. rUption of busines~ or manufac:ture. nor in an\' event inr more th:lll the interestof the insured. aR,1install DIRECT LOSS BY FIRE, LIGHTNING AND BY REMOVAL FROM PREMISES ENDANGERED BY THE PERILS INSURED AGAINST IN THIS POLICY, EXCEPT AS HEREINAFTER PROVIDED, to the property described Lerein while loc,lted or conl,lIned as described in this policy, or pro rata for five days at each proper place to which any of the properly shall necessaldy ue remo\ed for preservation from the perils insured against in this policy, but not elsewhere. Assignment of this policy shall not be valid except with the written consent of this Company. This policy is made and accepted subject to the foregoing provisions and stipullltions and those hereinafter stated, which are hereby made a part u[ this policy, together with such other provisions, stipulations and agreements as may be added hereto, as provided in this policy. , " ! f,:q F'.!. nr::t.1959 PRINTED IN U.S.A. 2()7 1 ~ . ~ i 1 'I his entire policy shall be void if, whether before or after lloss, the insured has w il- fully concealed or misrepresented any ma- terial fact or circumstance COIlCl 'ning this insurance or tbe subject thereof, or the interest oj the insured therein, or in case of any fraud or false swearing by the insured relating thereto. Uninsurable This policy shall not cover accounts, bills, and currency, deeds, evidences of debt. money or excepted property. securities; nor, unless specifically named hereon in wrilill~, bullioll or lnanuscripts. This Company shall not I,l' liable for Ims by Jill' or other perils insnred dJ-:ainst in this policy caused, directly or indirectly. by: (a) enemy attack by armed forces, including action taken by mili- tary, naval Or air forel's ill resisting an actual or an immediately impending enemy attack; (b) invasion; (c) insurrection; (d) rebellion; (e) revolution; (f) civil war; (g) usurped power; (h) order of any civil authority except acts of destruction at the time of and for the purpos.y of preventing the spread of lire, provided that such fire did not originate from allY of the perils excluded by this policy; .(i) neglect of the insured to use all reasonable means to save and preserve the property at and after a loss. or when the property is endangered by fIre in neighboring prem- ises; 0) nor shall this.Company be liable for loss by theft. I Other Insurance. Other insurance may ,be prohibited or the amount of insurance ,may be limited by en- donem~nt attached her~to_ Conditions .U!'p~n"in.t or r~lrtricti"r. inror.nc~. Unl~u otbu- ....ise provided in writing .dded hereto this Company 6hall not be liable tor Joss occurring (a) willIe the hazard is increased by any mC<lns within the con- trol or knowledge of the insured; or (b) while a described building, whether intended for occupancy by owner or tenant,is vacant or unoccupied beyond a period of sixty consecutive days; or (c) as a result of explosion or riot, unless a fire ensue, and in that event for loss by fire only, Other perils Any other peril to be insured against or sub- or subjects. ject of insurance to be covered in this policy shall be by endorsement' in writing hereon or ~s::;f;; relating to the interests and obligations of such mortgagee may be <1dded hen.) by <1greement in writing. Pro rata li1ility. rhisCompany shall not be liable for a greater proportion of any loss than the amount hereby insured shall bear to the whole insurance covering the property ag<1inst the peril involved, whether collectible or not. Requirements in The insured slHll give immediate written case loss occurs. notice to this Company of any loss, protect the property irom iurther damage. iorrhwith separate the damaged dnd ulHblll,lged person;d propeny, put it in the best possible order, furnish a complde inventory oC the destroyed. damaged and undamaged property, showing in dctdil '1Udllljties, costs, dctUdl cash value dnel alllOUnt of loss clalllled; and within sixty days after tp,e loss, unltoss such time is extended in writing by this Company, the insured shall render to this Company a proof of Joss,' signed and sworn to by the insured, stating the knowledge and belief of the insured as to the following: the time dnd origin of the ldss, the interest of the insured dnd of all others in the property, the actual cash value of each item thereof and the amount of loss thereto, all encum-:' brances thereon, all other contracts of insurance, whether, valid or not. covering any of said property, any' changes in the title, use, occupation, location, possession or exposures of said prop- erty since the issuing of this policy" by whom 'and for~what purpose any building herein described aJ;Id the several, 'pan.,','., thereof were occupied at the time 01 Iou and :Whetbu"Ol")u)t jt'~' th"'l .rood 00 I~.ucd ground. aAd 6bal11~ 'a 'copy ol&JJ ~..i.:, dcxriptio<l& .on..! ..:hc-Jul"" in ~n policic-& ~nd. it requited, vc-r\~e<i plan. and specii..:ation. of any building, fixtura ()(' machinery destroyed or damaged. The insur<:d, as often as may be reason- ably required. shall exhibit to any person designated by this Company all that remains of any property herein described, and submit to examinations under oath by any person named by this Company, and subscribe the same; and, as often as may be reasonably required. shall produce for examination all books of account, bills, invoices and other vouchers, or certified copies thereof if originals be lost, at such reasonable time and place as may be designated by this Company or its representative, and shall permit extracts and copies thereof to be made. Appraisal. In case the insured and this Company shaH fail to agree as to the actual cash value or the amount of loss, then, on the written demand of either, each shall select a competent and disinterested appraiser and- notify the other of the appraiser selected within twenty days of such demand. The appraisers shall first select a competent and dis- interested umpire; and failing for fifteen days to agree upon such umpire, then. on request of the insured or this Company, such umpire shall be selected by a judge of a court of record in the state in which the property covered is located. The ap- praisers shall then appraise the loss, stating separately actual cash value and loss to each item; and, failing to agree, shall submit their differences, only, to the umpire. An award in writ- ing, so itemized, of any two when filed with this Company shall determine the amount of actual cash value and loss, Each appraiser shall be paid by the party selecting him and the ex- penses of appraisal and umpire shall be paid by the partie. equally. , Company's options. It shall be optional with this Company to take all, or any part, of the property at the agreed or appraised. value, and also to re- pair, rebuild or replace the property destroyed or damaged with other of like kind and quality within a reasonable time, on giv- ing notice of its intention so to do within thirty days after the receipt of the proof of loss herein required. Abandonment. There can be no abandonment to this Com- pany of any property. The amount of loss for which this Company may be liable shall be payable sixty days after proof of loss, as herein provided, is rcceived by this Company and ascertainment of the loss is made either by agrecment between the insured and this Company ex- pressed in writing or by the filing with this Company of an award as herein provided. Suit. No suit or action on this policy for the recov- ery of any claim shall be sustainable in any court of law or equity unless all the requirements of this policy shall have been complied with, and unless commenced within twelve months next after inception of the loss. Subrogation. This Company may require from the insured an assignment of all right of recovery against to the extent that payment therefor is made ~ President . , . ~. ~"t~~ , . ~ . ~._ _.L~ ":.LL;.!~~tt,...;..,.~: .... r;,~}'....~::.. .. ~\>~ .~.. '. . . ,... ~~;:-~;~~~~~~~-::;~,;~!~az..':~~~-.- ~"-'~,~~;"'1-;_:~:;,>~~~.t~&~'j::~~t.:::~t?~~;:.,~.~t. ~ i~~~~~-:-.. . ..'-ft; ..~~~::~~~~~~;,r"}~;:' ","-,..' ~ .c. ..".;.;N:" ~ ,c <I'-"',~'"",':,"~,,~"::>_- -, ,- < Co . '-'-":'-,.,...-,' -~,'-': ~':;"'"'~''''' .;;'i,:~.....~,,!,~. '" I~<,<~,";,~.,,~, ~:~~~.,d:rOJ~"""':'i" '~'~-"I '-""._........~~............,.'... 4.........._hI'..'\,'_..'f..~-_;.... . "~'i4~~""'~bo-.....rl;',i.t~...-~._~....~~~r:-1' ~',>-,"".--:"~~*.~-:'~ ~~~~.,":~~!~~':"'~';""h~.r~ ...._, :., ;;;'.:~ i:;./';: ';:;~~:~~~:p;~-;.::.~:~~,':.;v.~" .'" >'~.'~~~;":".1.~~~;~:Z,~::. ,..~~~~'~,~-~J.~....-;,..,~." ,,:ti!~~\.~~){s2:"t~-:\~ .. . '". . -.. .~ ~ .1 ...... ..-.....~ '.. "- 0#. ....-.......... .. '. -"i--;',~, -r.........::.~.. '. ...-..~':.,..",_,.: ".- , .' ~ :1 :j 'j ~ , . " -~ '~ C:~~:.;~i;~ ~.' (}(,., t:. ,., .;~~ - ~~ %"i:~l\11, \~ . ~,J..JJ . ~""f 1~1, ,,\ \.1 I .lO. ~JI.I-... Ala..Fla. Ga.-S. C. (Edition 6-65) . ERRORS AND OMISSIONS FORM I Attached to and forming part of Policy NO.n'J::::2.7.1&s.~.::_7.?:..___..__of the ....hm'm..'h...--____.._.hJ);g..2L~~J!:::r:~m:TD.r].f~rm.tt:yN2~r~;;~~~RANC E COMPANY .h_..........__________ issued at its .m__............._ cITJlciT;~~i.'E~J.J..-.....m..-~T~~D 'hh..Agency. Da: ted .--..__n.m...'...__..9_::J.::12._..m..___~_._.._._....,.. --.___Agcnt. SECTION I A. LIMIT OF LIABILITY; Subject to the provisions and stipulations in this form and in the policy to which this form is attached, the limit of this Company's liability is: $ ,S'.<J,;.0QQm..__.mwith respect to the property specified in allY aile mortgage, under Section II, or Section III-A, or under both Sections II and I II-A; and any loss hereunder shall not reduce said limit of this Company's liability. . B. Insurance as prov.ided hereunder applies to the catcgory(ics) specified by the insertion of the estimated average num- ber of mortgage loans that will be in force during the term of this policy, as follows: __.....lJQ...hm.....h mortgage loans owned by the named Insured; ________Uu mortgage loans serviced by the nanled Insured for the account .of, .<?ther~; ," 110 ' Total. : !!; SECTION II A. COVERAGE-MORTGAGEE INTEREST: Subject to the limit of liability specified above, this Company' agrees to indemnify the Insured for loss to the Insured's mortgagee interest (including the Insured's mortgagee interest in any legal fidu- ciary capacity) in real property and in personal property mortgaged in connection therewith, when such loss' occurs through error Gf accidental omission on the part of the Insured (or those representing the Insured) in the operation of the Insured's customary procedure in requiring, procuring and maintaining valid policies or other evidences of insurance against the perils described below, (1) payable to itself as mortgagee, and, n ; '"I. (2) on such property during and after ioreclosure by the Insured or when '" ',k . , sold under a conditional sales acireement or other instrument wherebY'i' title remains with the Insured: if, by reason of such error or accidental omission, requisite insurance is not in 1. Perils: Only those perils against which the Insured customarily surance to protect its mortgagee interest(s). 2. Mortgage Loans Serviced for the Account of Others: Ii the Insured services mortgages under a written contract or agreement with one or more principals and the number of such mortgages is included in the estimate above, this insurance covers as though the Insured owned the mortgage interest under mortgages serviced for the account of others, and any payments hereunder shall be made jointly to the named Insured and the owner of the mortgage. 3. Limit of Liability: The liability of this Company, within the limit specified above, shall not exceed the smallest oi the following: (a) The amount of the actual direct loss to the property damaged or destroyed, determined in accordance with the conditions of the policy(ies) of insurance which would have covered the loss had no error or accidental omis- sion occurred, less the amount due the Insured under all other insurance on such property; "" (b) The amount that would be due from that part of the insurance which should have been procured and maintained by the Insured (under terms and conditions cus tomarily accepted by the Insured) but which, because of error or acciden tal omission, is lacking; , 'i' , ' (c) The amount of the Insured's mortgagee interest; "'" i (d) The amount represented by no greater proportion of any loss than the limit specified above bears to the whole amount of any errors and omissions insurance whether coll~ctible or not. "'.! SECTION III A. COVERAGE-MORTGAGEE LIABILITY: Subject to the limit of liability, this Company agrees to pay on behalf of the Insured all sums which the Insured shall become legally obligated to pay as damages in any mortgagee, mortgage fiduciary or mortgage servicing agency capacity arising by reason of error or accidental omission in the operation of the Insured's custom- ary procedure in procuring and maintaining valid policies or oth er evidences of insurance, against the risks and perils described below, ior the benefit of the mortgagor in amounts and under terms and conditions customarily accepted by the mortgagor; and this Company shall: ' Defend any suit against the Insured alleging such liability as covered hereunder and seeking damages on account thereof, even if such suit is groundless, false or fraudulent; but this Company may make such investigation, negotiation and settlement of any claim or suit as it deems expedient: ' , ", , ' Pay all premiums on bonds to release attachments for an amount not in excess of the applicable limit of liability, all premiums on appeal bonds required in any such defended suit, but without any obligation to, apply foror furn,ish any such bonds: "" " , ,", ''',' " " Pay all expenses incurred by this Company,' all costs taxed agains t the Insured in any such suit and all interest :~c~ruing after entry of judgment until this Company has paid or tender~d or deposited, in,court suclj part of such, judgment as'does not exceed the limit of this Company's,liabilitythereon;'" "":!,, '" ":,' J " ' ' " ,c,' ';,.'r~,,: '~';" "':"j"':' ,I: Reimburse the Insured for all reasonable expenses" other than ,loss of earnings, incurred'~at ,this ,,'Company's request; and the amount so incurred, except settlements of claims and suits, is payable by this Company,'inaddition, to the applicable limit of liability in anyone loss or occurrence, ",' 1. Risks and Perils: Only those risks and perils against which the mortgagor customarily obtains policies of insuranc~ except policies of title, life, sickness or accident insurance. , ;,' B,' COVERAGE-REAL ESTATE T~:X; LIABILITY: ,\Vith respect to the property specified in any' one mortgage, to pay on behal(,.of the Insured any sum up to a 11l11lt of $10,000" wlllch the Insured shall become legally obligated to pay as a result of claim(s) made against the Insured for failure through error or accidental omission to pay real estate taxes as agreed with the mortgagor. ., " , ,f '__ SECTION IV .', , A. COVERAGE-PROPERTY OWNED OR HELD IN TRUST: This Company agrees to insure the named Insured against direct loss to real and personal property owned by it, or held in trust by it, or in which it has any other fiduciary in- terest, when such loss occurs through error or accidental omission on the part of the Insured in its customary procedure of procuring and maintaining valid insurance to protect its interests as owner or to carry out its responsibilities,as,trustee~ ',"",. 1. Limit of Liability: The liability of this Company shall not exceed the smaller of the following:' ,. . (a) an amount equal to the limit of liability specified in Section I in any single occurrence; (b) the amount of loss resulting from the perils of fire and lightning and the perils of the Extended Coverage En- dorsement. ' , ' 2. Time Period: The liabilitv of this Company shall be limited to a period of time property is acquired by the Insured or its fiducia ry interest in such property the date other insurance is obtained, but not exceeding a total period of 90 days. 3. Subrogation Clause: This insurance shall, not be invalidated should the Insured waive in writing prior to a loss any or all right of recovery against any party for loss oC("llrring~o the property describ~d herein~ SECTION V PROVISIONS APPLICABLE TO SECTIONS II, III AND IV A. EXCLUSIONS: This Company shall not be liable: 1. Under this policy unless the damage to or destruction of property resulting in loss to the Insured, or the incident out of which a legal obligation of the Insured arises. occurs within the term of this, policy, regardless of 'when the precedent error or accidental omission 1 may have occurred. sixtv ' , " ,i,~1 2. For loss resulting from allY occurrence taking place 1110re than:xm~~days after the Insured had knowledge that an error or accidental omission had occurred. ",. , , 'f i '" ) ;"( , ' ',,' . ~I" force at the time of loss. require~its mortgagors to provide polich:s of in- ~ ~.. f.~ ~ ~ f l ,.. , [ ~ r f., f f, I\: t. ~, ., to- F' commencing' with the date such commences, and terminating on ~: .~,., 1'\" ~)o I-i' ja;;. r ~, ~ i' ~ F .. i~;'" . ~. .- , !. t f f 'if,: ) i.J ~_: ,( .. , , ~. .'r" '.' I r: - , ! ~ i . l.:- ~) THE PROVISIONS PRINTED ON THE BACK OF THIS FORM ARE HEREBY REFERRED TO AND MADE A PART HEREOF. No. 290-1 (6-65) (Ala., Fla., Ga., S. C.) No. 290-1 (6-66) (Ala., Fla., Ga., S. C.) .1, 1 i , " ',.Ii , " ,.,- j <:"1' ;:,i j i 1 . '~ ~;~~ ,-:, ;,',.~ "C;);f 1 1 ~ .~~~'...j 1.'>'.:::"; ',"~' ... ~""-J . .. '~~~,~ ....,J :}.t~., .t~~~ C# 1 i 1 ~ .i,:.:~J '7J'r-.~~ & ,...... ~ j 0.' ".~ I, ,,~ ... .~ ~J~; ~ " '1 , J '11 ; \ ,,1 '.f 1 '1 . B. INSURED'S DUTIES: 'lIle Insured shall make every reasonable effort: I :;; " 1. To require, procure alld'lllaintain valid policies or other evidences Of,' nsurance, payable to itself as mortgagee, against those perils which the Insured customarily requires its mortgagors to furnish; I 2. \Vith respect to insurance otherwise included in a policy so furnished, to maintain insurance against those risks and perils customarily insured against by the mortgagor, in amounts and under terms and conditions accepted by the mortgagor and by the Insured; 1 , 3. To make prompt payment of real estate taxes on mortgaged property, when so agreed with the mortgagor; and, 4. \Vith respect to properties in which the Insured's in terest is that of owner, fiduciary or trustee, to procure and main- tain valid insurance against the perils of fire and lightning and the perils included in the Extended Coverage En- dorsement, in amounts and under terms and conditions which the Insured customarily requires to protect its interests as owner or to carry out its responsibilities as fiduciary or trustee, " ,'. C. This illsurance covers only errors or accidental omissions with respect to policies of insurance or to real es'tate tax paymcnts, as above set forth, in connection with real property located in the United States of America and Puerto Rico. , , D. This insurance shall contribute only with other insurance (whether collectible or not) written under the identical terms, conditions and provisions contained ill this policy, and with respect to any other valid and collectible insurance, this insurance shall apply only as excess,after all other insurance has been exhausted. f:" : 'j irl"', E. In the standard fire insurance policy to which this form is attached: '" ,I 1. Line 24 is hereby deleted; and 2. In the section entitled Cancellation of Policy, the reference to "five days' written notice" is h~reby changed to read, "ten days' written notice." i . i ~, A. SECTION VI PROVISIONS APPLICABLE ONLY TO SECTION II None of the following provisions of the standard fire insurance policy, to which this form is attached, shaIl apply to the afforded hereunder: Other Insurance; Other Perils or Subjects; Added Provisions; Waiver Provisions; and Company's .r (I:" :. i j l J 'i 1I1surance Options. -- B. Provisions of the standard fire insurance policy, to which this form is attached, entitled, Requirements in Case Loss Occurs, Appraisal, Suit, and Subrogation, arc hercby deleted and the following substituted therefor: ' '" ' . , 1. Assistance of Insured: I t is a condition of this insurance that the Insured shall in every way assist in all matters per- tammg to coverage hereunder. 2. Requirements in Case Loss Occurs: The Insurcd shall give written notice to this Company of any loss as soon as practicahle after notice thereof has been received by the Insured. Such notice shall contain particulars regarding the time, place and circumstances of the loss as arc available at the timc. Within sixty days after the loss, unless such time is extended in writing by this Company, the Insured shall render to this Company a proof of loss, signed and sworn to by the Insured, stating the knowl- edge and belief of the Insured as to the following: the time an d origin of the loss, the interest of the Insured and of all others in the property, the actual cash value of each item thereof and the amount of loss thereto, all encumbrances thereon, all contracts of insurance, whether valid or not covering any of said property, by whom and for what purpose the damaged or destroyed huildingwas occupied at the time of loss, The Insured, as often as may be reasonably required, shall submit, to examinations under oath by any person named by this Company, and subscribe to the same; and as often as may be reasonably required, shall produce for examination all books of account, bills, invoices and other vouchers, or certified copies thereof if originals be lost, at such reasonable time and place as may be designated by this Company or its representative, and shaIl permit extracts and copies thereof to be made, , 3. Appraisal: In case the Insured and this Company shall fail to agree as to the amount of loss, then on the written demand of either, each shall select a competent and disinterested appraiser and notify the other of the appraiser selected within twenty days of such demand. The appraisers shall first select a competent and disinterested umpire; and failing for fifteen days to agree upon such umpire. then, on refJuest of the Insured or this Company. such umpire shall be selected by a judge of a court of record in the state in which the Insurcd is located, The appraisers shall then appraise the loss, stating separately the losses to each item; and failing to agree, shall submit their differences, only, to the umpire. An award in writing so itemized, of any two when filed with this Company shall determine the amount of loss. Each appraiser shall be paid by the party selecting him and the expenses of appraisal and umpire shall be paid by the parties equally, 4, Suit: No suit or action on this policy for the recovery of any claim shall be sustainable in any court of law or equity unless all the requircments of this policy shall have been complied with,' and unless commenced within twelve months next after date of discovery of the error or accidental omis~ion. S. Subrogation: Whenever the payment to the Insured by this Company and other Companies equals the balance due under the mortgage, or when the payment of this Company and other Companies is less than such balance due under the mort- gage and this Company by itself, or with others, elects to pay the Insured the balance due on thc mortgage (after deducting any amount recoverahle from this and other insurance), it is a condition of this insurance that the Companies having and exercising sub- rogation rights shall, as their interest may appear, thereupon receive full assignment of the mortgage and all securities held as col- lateral for the mortgage debt. SECTION VII PROVISIONS APPLICABLE ONLY TO SECTION III A. The unqualified word "Insured" includes the named In sured and also includes any executive officer, ,director, or trustee thereof while acting within the scope of his duties as such. B. None of the following provisions of the standard fire in surance policy, to which this form i~ attached, shall apply to the insurance afforded hereunder: Uninsurable and Excepted Property; Other Insurance; Other Perils or Subjects; Added Pro- visions; Waiver Provisions; Appraisal; and Company's Options, C. Provisions of the standard fire insurance policy, to which this form is attached, entitled, Requirements inCase Loss Occurs, Suit, and Subrogation, are hereby deleted and the following substituted therefor: ' L Cooperation of the Insured: It is a condition of this insurance that the Insured shall cooperate with this Company and, upon this Company's request, shall attend hearings and trials and shall assist in effecting settlement, securing and giving evi- dcnce. obtaining the attendance of witnesses and in the conduct of suits, but the Insured shall not, except at his own cost, \'oluntarily make any payment, assume any obligation or incur any expense, Upon this Company's request, the Insured shall give to this Company a signed statement of facts containing all available information deemed necessary by this Company to deter- mine and define its liability and rights under this insurance, 2: "'Notice of Claim or Suit: If claim is made or suit is brought against the Insured, the Insured shall immediately forward to this Company every demand, notice or summons or other process received by him or his representative. 3. Action Against Company: No action shall lie again st this Company unless as a condition precedent thereto, the Insured shall have fully complied with all the provisions of Section III, nor until the amount of the Insured's obligation to pay shall have been finally determined either by judgment against the Insured after actual trial or by written agreement of the In- sured, the claimant and this Company, Any person or organization or the legal representative thereof who has secured such judg- ment or written agreement shall thereafter be entitled to recover under this insurance to the extent afforded thereby. Nothing contained in this insurance shall give any person or organization any right to join this Company as a co-defendant in any action against the Illsured to determine the Insured's liability. Bank ruptcy or insolvency of the Insured or of the Insured's estate shall not relieve this Company of any of its obligations hereunder. 4. Subrogation: In the event of any payment under t his policy, this Company shall be subrogated to all the Insured's rights of recovery therefor against any person or organization and the Insured shall execute and deliver instruments and papers and do whatever else is necessary to secure such rights, The Insured shall do nothing after loss to prejudice such rights. ,-/; i.. ~ . , } f r I r. I ~ t .' '" (290-1 ) o n . . . . '... ',4~;;:-~~&~, " ~"~~,'r,f.~:'~~'-',?;',i.,-'N;:~:::t",-';'-~;:::";'fi)~).!:.::r,;;~:;tf;t:5-~,......5':%,.~fu'-~'P~~,~0~~,~~BI~'~.#i":f~~, ~mt~~,'~~,~'~"~7. .,', ,'A-::""':~<'!'5--".~~';";r;,:-:':f;:';-'""N':J:";"\~-~';,:':";:';;.::"'4>"-":';. ~~~~...~'i;:;::;"";J:;,~~""'" ' ':;;.~~~i':.-.':"'~''''''''''~,'!l~~ ." ,.", ,'~~+> ~:,~;g~~?+~Z~};~~"i"',-,;f,'.!",:i:;:t,;ii:j~~,\:J"':f.~::~7~;:>~::r,j;(i;:~,,'1,';:.,..~~!~r~~~~~:t~~~~~'OJ ~~~~~"~~~~li' ,~.. 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