ERRORS AND OMISSIONS POLICY
TO:
FROM:
COPIES:
J
Lucille Williams - City Clerk
Joseph R. McFate - Community Development
SUBJECT: U. S. Home Mortgage Corporat1ou
DATE:
January 18, 1982
CltV OF CLEARWATER
Interdep.rtment Correspondence Sheet
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Enclosed please find a copy of the current Errors and OIlissions Policy
for U. S. Home Mortgage Corporation.
Please file in contract file.
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T......'..CEPTI. (Me..' ow YMfl EXPIRATION lMo. D.y VN" YEAiiS
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JAN 18 1980 .
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CITY CL~.
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It ~ ......t thet .... ...... portioll. of all policiel ~ the _ .-..rtY I'tI!"I exactly aIib. H they do not, they .......d be .... uniform et one..
INSURANCE IS PROVIDED AGAINST ONLY THOSE PERILS AND FOR ONLY THOSE COVERAGES INDICATED BELOW BY A PREMIUM CHARGE AND "
AGAINST OTHER PERILS AND FOR OTHER COVERAGES ONLY WHEN ENDORSED HEREON OR ADDED HERETO.
OUCRIPTIOIII. ANO LOCATION OF PIIOPUTY COVIIlID Dinltlq ........ Oat,.
...... ~....... C..... .tnet. Cft,.,. c_~, ...te, ZIp Cech. .~ t1fpe of .... 8M _"_,. .f ...IN...... ......-I ..::.. No. at ,__ .....,_. "'_
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1. ,. ......JI~ .(....,... 1t<lIL
..... PlRlLC.)~D AGAIN.T "'r c.nt Of .....tIllI8 A_..t of ........ _ ...t......... ........t
... AIIlD CO.......) PRQVlDID Co-loMro_ ~ --. ... Pr8a1um Due ' ..,....... Do At
(1MIIII1' NAME 01 ~"I ANNo..... At .......... .....~
1. FIRt: AND L1lUtTNU..G. ... 'Jl IT T If $ $
EXTENDED COVERAGE XXXXXX
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TOTAUS) 1 $ ..t~.
I TOTAL PREMIUM FOR POLICY TERM PAID IN INSTALLME.'R'fS $-
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Subject to Form No(a). _., C~ ~ ltM'.!R.~t-(QS~" (..", attacMcl .......
Mort8a.. CIa..... Subaec:t to the provisions of the mortgage clau.. IIttac:hed her.to, loss, If any, on building, items, shan be payable to:
INS.RT NAM.'S' O~ ~.AG..IS' AND MAIL'NG AOOR.SS(..'
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Agency at
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AGENT'S COpy
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PropeIly & Uablllt,t
Insurance
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MULTI-PURPOSE ENDOR~EMENT
ATTACHeD TO AND "O""'IN$ E,.,.':CTIVE. DATI!: ISSUItO TO ~.
PA.T 0" POLICY NO. OP' I:NDORSaMENT
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"GENT S CITY "NO ST"TE COUNTElnnG'NEo SY
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AGENT
THE AMOUNT OF INSURANCE, RATE, PREMIUM, OR INSTAllMENTS ARE AMENDED AS FOLLOWS: CO-DEPT. DIY. TII". "GENCY COM.... DATE E.... DATE
AMOUNT OF INSURANCE RATE CASH PREMIUM EACH INSTALLMENT
: .. a .. .. COMM. I INST. I STATE
i TYPE X c TYPE X i . TYPE X
g NEW OR .. ~ g
.. FOR INCREASE OLD .... FOR ! FOR INCREASE
U u PRESENT '6 i U ~
. OR DECRfASE AP OR RP OR DECREASE
of Q ~ '"' of Q PERIL LINE COY. CLASS PRO. $PC. CTY.
$ I. $ Ia~ $
-.,
-
AMENDED >< TOTAL DUE TOTAL OLD NEW INSTALLMENT T AX CODE
TOTAl H EItEWITH INST ALLMENT DUE ANNUAllY
$ $ ..... ^'" .- $ $ $
The following item(s) marked [E are amended to read as described below:
1.
o NAME OF INSURED
4. !il ADDITION OF ITEMS
7. 0 CHANGE OF ASlIlGNMENT
(COMPANY HERE.8Y CONSENTS TO )
ABtUGNMEN.T FROM ...aOVE' ""MI.D
TO: Isu: SELOW)
2.
o LOCATION
s. 0 DELETION OF ITEMlI
8. 0 NEW MORTGAGE CL.AUSE
(FORME" ~O"TGA5E CLAUS,I: RE.. )
LEASED. NEW MOIIIITGAGE CLAUSE
TO. (SU SELOW)
3.
0' POLICY CONDITIONS
6. 0 DESCRIPTION OF PROPERTY
9.0
(NOTICE ACCEPTE.D THAT THE
INTEREST OF MORTGAGEE INTEllItSTO" MOIITG"GEIt ""S
CI[ASED.
)
DESCRIPTION OF AMENDMENTIS): (GIVE ITEM NO.1
10.0
III oc.a14eraU_ .~ _ add1U....l ~ of "2.00, 't".M Pol.1q 18 -, ._ U tollowal
~ x... CNIWd. _:tJ:uM:Ncla J05
~ x..- M1"ri.oecl _ :ru.r.ll
1,159
7 ,~Ifotal
A I.. I.. OTHER TERMS AND CONDITIONS REMAIN UNCHANGED
INFORMATION ON IRE POLICY TO WHICH THIS ENDORSEMENT IS ATTACHED: (COMPLETE FOR BUREAU USE)
LOCATION 01' PflOPEJlTY
EXPIRATION DATE
AMOUNT
PROPERTY 'N.U"~DI
COMMENCEMEHT DATE
11.70 ED .-.0.11 PART PIIINTItO IN U.S.A.
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.eaillul
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Pr'~HIy & Lkll.hly
InSUrallCe
ENDO R 5 E MEN T #1
The following spaces preceded by an asterisk (*) need not be completed if this endorsement and the policy have the same inception date.
ATTACHED TO AND FORMING
PART OF POLICY NO,
.EFFECTlVE DATE
OF ENDORSEMENT
.ISSUED TO
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JlIa .'M_II1:1_ ...... A.. "U_ t. tile UIIi~ ~ r~""'4. ~- ___ m.
a..:1UVr.. -- 1 ...... I'Iz '4 Li\ttw ia ~L .. _ .art to Nell tJOO.ooo.oo .. u.a
., t1O.aooM.
Nothing herein contained shall be held to vary, alter, waive or extend any of the terms, conditions, provisions,
agreements or limitations of the above mentioned Policy, other than as above stated.
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Agency Name and Address
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In Witness Whereof; the Company has causcd this
endorscment to be signed by a duly authorized
representative of the Company.
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AUTHORIZED REPRESENTATIVE
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259"9 REV. .-64 PPlINTED IN U.S.A.
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Property & UablIdy
In5lrcInOe
DEDUCTIBLE ENDORSEMENT
ATTACHED TO AND FORMING EFFECTIVE DATE ISSUED TO
PART OF POLICY NO. OF ENDORSEMENT
11a.JII_ 10-2'1-'" waS. - ...~... - ...
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Each claim for loss or damage (separately occurring) shall be adjustcd scparately and from the amount of each adjusted claim,
or the applicable limit of liability, whichever is less the sum of $ 2.50,000.00 shall be deducted.
All other terms and conditions of the Policy not in conflict herewith remain unchanged.
20598
Ed. 5-72 Printed in U.S.A.
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Pn~lerly & Lkll~hly
InSllral)('e
ENDORSEMENT
The following spaces preceded by an asterisk (*) need not be completed if this endorsement and the policy have the same inception date.
ATTACHED TO AND FORMING
PART OF POLICY NO,
.EFFECTlVE DATE
OF ENDORSEMENT
.'SSUED TO
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to-aT-19
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Nothing herein contained shall be held to vary, alter, waive or extend any of the terms, conditions, provisions,
agreements or limitations of the above mentioned Policy, other than as above stated.
9-tOJl9)a
Agency Name and Address
QlaU1W "h.~ a.rn.... ~.
III Witness Whereof; thc Company has caused this
endorscmcn t to bc signcd by a duly authorizcd
rcprcscn talive of thc Company.
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IER~S AND OMISSION$ FOR~
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Form FEO-83
(~. 1-75)
SECTION I
A. UMIT 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: ,
$.1., QOQ, QOQ .with respect to the property specified in anyone mortgage, under Section II, or Section III-A, or under both Sections II and III-A; and any
loss hereunder shall not reduce said limit of this Company's liability.
B. Insurance as provided hereunder applies to the category(ies) specified by the insertion of the estimated average number of mortgage loans that will be
in force during the term of this policy, as follows:
. . . ~5:l!-. 00. .. mortgage loans owned by the named Insured;
~, ~~ ~ 0? .. mortgage loans serviced by the named Insured for the account of others;
.. ~ .7J.. ~ .G!!... 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 mortga~ee interest (including the Insured's mortgagee inter-
est in any legal fidUCIary capacity) in real property and in personal property
mortgaged in connection therewith, when such loss occurs through error or
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
(2) on such property during and after foreclosure by the Insured or
when sold under a conditional sales agreement or other instrument
whereby title remains with the Insured;
if, by reason of such error or accidental omission, requisite insurance is
not in force at the time of loss.
1. Perils: Only those perils against which the Insured customarily
requires its mortgagors to provide policies of insurance to protect its
mortgagee interest(s), except as otherwise provided under Section V.
2. Mortgage Loans Serviced for the Account of Others: If the In-
sured services mortgages under a written contract or agreement with
one or more principals and the number of such mortgages is included
SECTION III
A. COVERAGE-MORTGAGEE LIABILITY: Subject to the limit of liability, this
Comrany agrees to pay on behalf of the Insured all sums which the Insured
shal become legally obligated to pay as damages in any mortgagee,
mortgage fiduciary or mortfage servicing agency capacity arising by rea-
son of error or accidenta omission in the operation of the Insured's
customary procedure in procuring and maintaining valid policies or other
evidences of insurance, against the risks and penis described below, for
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 for or furnish any such bonds;
Pay all expenses incurred by this Company, all costs taxed against
the Insured in any such suit and all interest accruing after entry of
SECTION IV
A. COVERACE-PROPERTY OWNED OR HELO IN TRUST: This Company
agrees to insure the named Insured against direct loss to real and personal
property, except as otherwise provided under Section V, owned by it, or held
in trust by it, or in which it has any other fiduciary interest, 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. Umit of Liallility: The liability of this Company shall not exceed
the smaller of the rollowing:
(a) an amount equal to the limit of liability specified in
Section I in any single occurrence;
Form FEO-63 (Ed. 1-75)
in the estimate above, this insurance covers as though the Insured
owned the mortgage interest under mortgages serviced for the ac-
count of others, and any payments hereunder shall be made jointly to
the named Insured and the owner of the mortgage.
3. Limit of L1abiHty: The liability of this Company, within the limit
specified above, shall not exceed the smallest of the following:
(a) The amount of the actual direct loss to the p'roperty dam-
aBed or destroved, determined in accordance With the condi-
tIons of the policylies) of insurance which would have covered
the loss had no error or accidental omission 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 insur-
ance which should have been procured and maintained by the
Insured (under terms and conditions customarily accepted by
the Insured) but which, because of error or accidental omission,
is lacking;
(c) The amount of the Insured's mortgagee interest;
(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 collectible or nol.
jUdgment until this Company has paid or tendered or deposited in
court such part of such judgment as does not exceed the limit of this
Company's liability thereon;
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 in addition to the applicable limit of liability in anyone loss
or occurrence.
1. Risks anti 'erils: Only those risks and perils against which
the mortgagor customarily obtains policies of insurance. except
(1) risks and perils excluded under Section V, and (2) policies of
title, life, sickness or accident insurance.
B. COVERAGE-REAl ESTATE TAX LIABILITY: With respect to the property
specified in any one mort~age, to pay on behalf of the Insured an~ sum up
to a limit of $10.000., which 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 e~late taxes as agreed with the
mortgagor. See Endorsement ff1
(b) the amount of loss resulting from the perils of fire and
lightning and the perils of the Extended Coverage Endorsement.
2. TilAe 'eriod: The liability of this Company shall be limited to a
period of time commencing with the date such property is acquired by
the Insured or its fiduciary interest in such property commences, and
terminating on the date other insurance is obtained. but not exceed.
ing a total period of 90 days.
3. Sullrogatiol Claus.: 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 occurring to the property described
herein.
Page 1 of 3
, ,
I SECTION V I
PROVISIONS APPLICABLE TO SECTIONS II, III A\D IV
A. EXCWSlONS:
,. Nuclear Clause: The word "fire" in this policy or endorsements
attached hereto is not intended to and does not embrace nuclear
reaction or nuclear radiation or radioactive contamination, all
whether controlled or uncontrolled, and loss by nuclear reaction or
nuclear radiation or radioactive contamination is not intended to be
and is not insured against by this policy or said endorsements,
whether such loss be direct or Indirect, proximate or remote. or be in
whole or in part caused by, contributed to. or aggravated by "fire" or
any other perilS insured against by this policy or said endorsements;
however, subject to the foregoing and all provisions of this policy,
direct loss by "fire" resulting from nuclear reaction or nuclear radia-
tion or radioactive contamination is insured against by this policy.
2. Nuclear Excluslol--(This clause applies to all perils insured
against hereunder except the perilS of fire and lightning, which are
otherwise provi~ for in the Nuclear Clause attached to this policy):
Loss by nuclear reaction or nuclear radiation or radioactive contami-
nation, all whether controlled or uncontrolled, or due to any act or
condition incident to any of the foregoing. is not insured against by
this POlicy, whether such loss be direct or indirect, proximate or
remote, or be in whole or in part caused by, contributed to, or
aggravated ~ any of the perils insured against by this policy; and
nuclear reaction or nuclear radiation or radioactive contamination,
all whether controlled or uncontrolled, is not "explosion" or "smoke".
3. TIlls Company sllallnot be liable for less resultlnl from:
(a) Any hostile or warlike action in time of peace or war,
including action in hindering, combatinll or defending against
an actual, impending, or expected attack, (1) by any govern-
ment or sovereign power (de jure or de facto), or by any authority
maintaining or using military. naval or air forcesf. or (2) by
military, naval or air forces; or (3) by an agent 0 any such
government, power, authority or forces, it being understood tnat
any dischar~e, explosion or use of any weapon of war employing
nuclear fiSSion or fusion shall be conclUSively presumed to be
such a hostile or war-like action by such a government, power,
authority or forces; insurrection, rebellion, revolution, civil war,
usurped power. or action taken by governmental authority in
hindering, combating or defendinll against such an occurrence;
(b) An order of any civil authority except acts of destruction at
the time of and for the purpose of preventing the spread of fire,
provided that such fire did not originate from any of the perilS
excluded in paragraph 3(a).
4. TIlls Co.,an, sball not be Iiallle for loss caused by, resultinl
fro.. cOltrill"e" to er allravated II, any of tile followlll:
(a) earth movement, including but not limited to earthquake,
landslide, mudslide, mudflow. earth sinking, earth riSing or
shifting;
(b) flood, surface water, mudslide, mudflow, waves, tidal
water or tidal wave, overflow of streams or other bodies of
water, or spray from any of the foregoing, all whether driven by
wind or not;
(c) water which backs up through sewers or drains;
(d) water below the surface of the ground including that which
exerts pressure on or flows, seeps or leaks through sidewalks,
driveways, foundations, walls, basement or other floors, or
through doors, windows or any other openings in such side-
walks, driveways, foundations, walls or floors;
unless fire or explosion, as insured against in the policies of insur-
ance which the Insured customarily requires its mortllaeors to pro.
vide, ensues and then the Company shall be liable for only loss
resulting from such ensuing fire or explosion.
5. litis CO.p.I' slllll not lie Iiallle:
(a) Under this policy unless the damage to or destruction of
property resulting in loss to the Insured, or the incident out of
which a le8al obligation of the Insured arises, occurs within the
term of thiS policy, regardless of when the precedent error or
acClidental omission may have occurred.
(b) For loss resulting from any occurrence takinllplace more
than thirty days after the Insured had knowledge that an error or
accidental omission had occurred.
(c) For any loss resulting from failure to maintain title insur-
ance.
B. INSURED'S DUTIES: Tile Insured shallllahl Ive" reasolable effort:
1. To require, procure and maintain valid policies or other evidences
of insurance, payable to itself as mortgagee, against those perilS
which the Insured customarily requires its mortgagors to furnish:
2. With respect to insurance otherwise included in a poliCY so fur-
nished, to maintain insurance against those risks and perils custom-
arily insured against by the mortgallor, in amounts and under terms
and conditions accepted by the mortgagor and by the Insured;
3. To make prompt payment of real estate taxes on mortgaged
property, when so agreed with tile mortgagor; and,
4. With respect to properties in which the Insured's interest is that of
owner, fiduciary or trustee, to procure and maintain valid insurance
against the penis of fire and lightning and the perils included in the
Extended Coverage Endorsement, 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 insurance covers only errors or accidental omissions with respect
to policies of insurance or.to real estate tax payments, as above set forth,
in connection with real property located in the United States of America and
Puerto Rico.
O. This insurance shall contribute only with other insurance (whether
collectible or notl written under the identical terms1 conditions and provi-
sions contained In 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.
E. In the standard tire insurance policy to which this form is attached:
1. Provision 0) of "Perils not included" is hereby deleted; and
2. In the section entitled "Cancellation of Policy" if provision is
made for "five days' written notice", "ten days' written notice" shall
be substituted therefor.
SECTION VI
PROVISIONS APPLICABLE ONLY TO SECTION II
A. None of the following prOVisions of the standard fire insurance policy, to
which this form is attached, shall apply to the insurance afforded here-
under: Other Insurance; Other Perils or Subjects; Added Provisions; Waiver
Provisions; and Company's 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, are hereby deleled and the following substituted therefor:
1. Assist.lce of Insured: It is a condition of this insurance that the
Insured shall in every way assist in all matters pertaining to coverage
hereunder.
2. Relluire...ts in Case Loss Occurs: The Insured shall give writ-
ten notice to this Company of any loss as soon as practicable after
notiCl! thereof has been received by the Insured. Such notice shall
contain particulars regarding the time. place and circumstances of
the loss as are available at the time. 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 knowledge and belief of the Insured as to the
following: the time and origin of the loss, the interest of tile Insun:1:l
-
Form FEO-63 (Ed. 1-75)
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
building was 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 losl.t at such reasonable
time and place as may be designated by this \;ompany or its repre-
sentative. and shall 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 shalllirst select a competent and disinter-
ested 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
----..
Page 2 of 3
I
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Insured is located. The appraisers shall then appraise the loss,
stating separately the losses to each item; and failing to agree, shall
~ub~it their differences, only', to the umpire. An award in writing so
Itemized, of any two when hied 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 e~uity unless all the
requirements of this policy shall have been complied with, and unless
commenced within twelve months next after date of discovery of the
error or accidental omission.
. I
,.......".
5. Subrogation: Whenever the payment to the Insured by this Com-
pany and other Companies equals the balance due under the mort-
gage, or when the payment of this Company and other Companies is
less than such balance due under the mortgage and this Company by
itself, or with others, elects to pay the Insured the balance due on the
mortgage (after deductinj! any amount recoverable from this and
other insurance), it is a condition of this insurance that the Com-
panies having and exercising subrogation rights shall, as their inter-
est may appear, thereupon receive full assignment of the mortgage
and all securities held as collateral for the mortgage debt.
SECTION VII
PROVISIONS APPLICABLE ONLY TO SECTION III
A. The unqualified word "Insured" includes the named Insured 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 insurance policy, to
which this form is attached, shall apply to the insurance afforded here-
under: Uninsurable and Excepted Property; Other Insurance; Other Perils or
Subjects; Added Provisions; Waiver PrOVISions; Appraisal; and Company's
Ophons.
C. Provisions of the standard fire insurance policy, to which this form is
attached, entitled, Requirements in Case loss Occurs, Suit, and Subroga-
tion, . are hereby deleted and the following substituted therefor:
1. Coope,atioR of tile Insured: It is a condition of this insurance
that the Insured shall cooperate with this Company and, upon this
Company's request. shall attend hearinss and tnals and shall assist
in effecting settlement, securing and gIVing evidence, obtaining the
attendance of witnesses and in tlle conduct of suits, but the Insured
shall not. except at his own cost, voluntarily 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 determine and define its liability and rights under this
insurance.
Form FEO-63 (Eli 1-75)
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 Alainst Company: No action shall lie against this Com-
pany 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 agrllement of the Insured, the claimant and this Com-
pany. Any person or organization or the legal representative thereof
who has secured such judgment 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 Insured 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 this 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.
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