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NATIONAL LOAN INVESTORS LP (2).• , . . This Document Prepared By and Return to: C. Allen Kynes, Jr., Esquire Iiarper, Kynes, Geller, Greenleaf & Frayman, P.A. 1253 Park Street, Suite 200 Clearwater, FL 34756 ��. > � C-, (j : (� t:. ) ,. � J :.. � / Parcel �DNumber: 10-29-15-71694-005-0080 Warranty Deed KEN BURKE, CLERK OF COURT PINELLqS COUN7Y FLORIDA INST# 2012094087 04/03/2012 at 07:00 PIVI OFF REC BK: 17536 PG; y551-2553 �TYPe:DEED RECORDING: $27,00 � UOC STARqp; $420.00 This Indenture, Made this 2 3 rd day of March , 2 012 A.D. , Setween NATIONAL LOAN INVESTORS, LP, a Delaware limited partnership of tbe Counry ot` Oklahoma � State of Oklahoma , grantor, and CITY OF CLEARWATER, FLORIDA, a Municipal Corporation of the State of FL whoseaddress;s: 112 S. Osceola Avenue, Clearwater, FL 33756 of the County of Pinellas , State of Florida , grantee. Witnesseth that the GRANTOR, for and in considcration of the sum of ------------------------TEN DOLLARS tSlO)----------------------- DOLLARS, and od�er good and valuable consideration to GRANTOR in hand paid by GRANTEE, thc receipt whereof is hereby acknowledged, has granted, hargained and sold tn the said GRANTEE and GRANTEE'S heirs, successors and assigns forever, the following described land, situate, lying and being in the Counry of plll@1135 State of Florida to wit: Lots 8 and 9, Block E, PINE RIDGE SUBDIVISION, according to the map or plat thereof as recorded in Plat Book 28, page 98, Public Records of Pinellas County, Florida. Subject to restrictions, reservations and easements of record, if any, and taxes subsequent to 12/31/2011. and the grantor does hcreby 1Llly ��•an-ant the title to said land. and will defend the same against lawful claims of all persons whomsoever. c � Warranty Deed - ra�e 2 7dd7S ParcellDNumber: 10-29-15-71694-005-0080 In Witness Whereof� the grantor has hereunto sct its hand and seal the y Sig��i, sealed and delivered in our presence: N ION /� � D 1 awa P��nted Name W' ness �C v� Lr- L-ll� � �� vl Printed Name: � ��— Witness By: above written. NVESTORS, LP, a g� partnership �u /l�. -Heafy � Managing General Partner P.O. Addeess: 5619 N. Classen Blvd, Oklahoma City, OK 73118 (Seal) STATE OF Oklahoma COUNTY OF Oklahoma The foregoing instrument was acknowledgcd before me this %(� f� day of Mareh � 2 � 12 by Paul G. Heafy, Managing General Partner on behalf of NATIONAL LOAN INVESTORS, LP, a Limited Delaware Partnership l�e is personall� knowm to me or ke-kes-}�ec�us�-lais O�E-�-8�1'Oitt�t��'6*£�' � S- �iE."2�iS@ as identification. �Q .�: 7�.��G(.��'� Printed Name: ��o��E,��„ Notary Public �,,,,��,,,, `�.. pENr,S�F ,,� MyCommissionExpires: �-f�� -!Z ��,,,.,�..�aoT,�f-��' . � y e �C`i '�':. � � "-1: r�'�� <i G� = = m ..a o9 �'� : m , � � =o�y o�� :a; ;T• <<� �.:s '' /"o k' ' A , H' o,M P ``\ ` `,. Sca/e 1 " = 50' This is no t a su�vey EXHIB IT "A" _,,��i�lllllllll�i��,,._ i � I I ( I I � Lot 70 Lot 11 Lot 12 I.ot 13 Block D Blocic D Blocl, D Block 1� � � Pine Ridge Subdi��lsio�l � � Alat t3oolc �8, Page 98 — — � � N � h � � O VERLEA STREET SB9 33'05 E 69. 66' / 67. 00'� � � .� V- j O N � ") N ^ N �, �' Lot I =�/ Lnt 8 "'�'� Lot 7 Lot 6 O N/ N � Blocic E �� Bloek E � BIoc1� E Bloc1: E 2 2 Z � Pine Kidge Su6dn�isron 69.57" 67�0 ��Book 8, Page 98� �� I NB930 03"W � i �r.r,�GATOR e�Ex i � LEGAL DESCRIPTION: Lots 8 and 9, Block E, Pine Ridge Subdivision, according to the map or plat thereof as recorded in Plat Baok 2$, Page 98, Public Records of Pinellas County, Florida. Iand Title Association - Omnec's Polic� Adopted 6/17/200C)�th Fbrida OWNER'S POLICY UF TITLE INSI.IRANCE OLD REPUBLIC NATIDNAi T�T'LE IIVSLIRAIVCE COMPANY My notice of claim and any other notice or statement in writing required to be given to the Company under this Policy must be given to the Corapany at ihe address shown in Section 18 of the Conditions. COVERED RISKS SUBJECT TO THE EXCLUSIONS FROM COVERAGE, 'I�� EXCEPTIONS FROM COVERAGE CONTAINED IN SCHEDULE B, AND THE CONDTTIONS, OLD REPUBLIC NATIONAL TTI'I.E INSURANCE COMPANY, a Minnesota corporation ( the "Company") insures, as of Date of Poliry, against loss or damage, not esceeding the Amount of Insurance, sustained or incurred by the Insured by reason o� 1. T"itle being vested other than as stated in Schedule A. 2. Any defect in or lien or encumbrance on the Title. This Cocered Risk includes but is not limited to insurance against loss from {a) A defect in the Tide caused by (i) forg,ei,y, fraud, undue influence, duress, incompetency, incapacity, or impersonation; {n} failure of any person or Entity to have authorized a transfer or com�,yance; (iri) a document affecting Title not properly created, esecuted, witnessed, sealcd, acknowledged, notarized, or delivered; (iv) failure to perform those acts necessary to create a document by electronic means authorized by law; (v) a document executed under a faLsified, espired, or othe�wise invalid power of attorney; (vi) a document not properly filed, recorded, or indexed in the Public Records including failure to perform those acts by electronic means authonzed by law; or {vii) a defectrve judicial or administrative proceeding. (b) The lien of real estate tares or assessments imposed on the Title by a govemmental authority due or payable, but unpaid. (c) Any encroachment, encumbrance, violation, variation, or adverse circumstance affecting the Tide that would be disclosed by an accurate and complete land survey of the Iand. The term "encroachment" includes encmachments of existing improvements located on the Iand onto adjoining land, and encmachments onto the Land of existing improvements located on adjoining land. 3. Unmarketable Titie. 4. No right of access to and from the Land. 5. The ��iolation or enforcement of an,y law, ordinance, permit, or governmental regulation (including those relating to building and zoning) restricting, regulating, prohibiting, or relating to (a) the occupanry, use, or enjoyment of the Land; (b) the character, dimensions, or location of any improvement erected on the Land; {c) the subdivision of land; or {d) enrironmental pmtection if a notice, describing any part of the Land, is recorded in the Public Records setting forth the violation or intention to enforce but only to the extent of the violation or enforcement referred to in that notice. (Covered Risks continaed) In 4i�tness Whererof, OLD REPUBLIC NATIONAL TTTLE INSURANCE COMPANY, has caused this poliry to be signed and sealed as of Date of Policy shown in Schedule A, the policy to become valid when countersigned by an authorized signatory of the Company. * * � � * � * ** ** � FORM OF6 �rev. 12/10KkYith Florida Modifications) File Number. 4435 OLD REPUBLlC NATIONAL TRLE NSURANCE COMPANY A SYaat Canpaiy 4D0 SemndAvenue Soufh. Mi�neapafa. Mixresnta 5540f (6)2J371-1 ?f i By A / 'i �. , i ,� SERIAL OF6 -8041719 ,�Sd�r Sea�ary ePolicyManager 1 of 6 � OLD REPUBLIC NATIONAL TITLE INSURANCE COMPANY OWNER'S POLICY Schedule A Policy No.: OF 6- 8 0 41719 Agent's File Reference: 2 4 4 3 5 DateofPolicy: 04/03/12 1; 00, p,m. Amount of Insurance: $ 6 0, 0 0 0. 0 0 Premium: $10 3. 5 0 Address Reference: 1315 N. Betty Lane Clearwater, Florida 33755 1. Name of Insured: CITY OF CLEARWATER, FLORIDA, a Municipal Corporation of the State of FL 2. The estate or interest in the Land that is insured by this policy is: Fee Simple 3. Title is vested in: CITY OF CLEARWATER, FLORIDA, a Municipal Corporation of the State of FL 4. The Land referred to in this policy is described as follows: Lots 8 and 9, Block E, PINE RIDGE SUBDIVISION, according to the map or plat thereof as recorded in Plat Book 28, page 98, Public Records of Pinellas County, Florida. OLD REPUBLIC NATIONAL T!T NCE COMPANY 400 Second Avenue South, M' innesota 55 Harper, Kynes, Geller, Greenleaf & Frayman, P.A. 8089 1SSUING AGENT AGENT NO. A NT'S SIGNA 1253 Park Street Suite 200 Clearwater , Florida 33756 MAILING ADDRESS CITY STATE ZIP FORM OF6-SCH-A (rev. 12/10) (With Florida Modifications) (oz�� i o;spiaysofl oi-wiN-F�owNn-oe> � OLD REPUBLIC NATIONAL TITLE INSURANCE COMPANY OWNER 'S POLICY Schedule B Policy No.: OF6 - 8 041719 Agent's File Reference: 2 4 4 3 5 This policy does not insure against loss or damage, and the Company will not pay costs, attorneys' fees, ar expenses that arise by reason of: 1. Taxes for the year of the Date of Policy and taxes or special assessments which are not shown as existing liens by the Public Records. 2. Rights or claims of parties in possession not recorded in the Public Records. 3. Any encroachment, encumbrance, violation, variation, or adverse circumstance that would be disclosed by an inspection ar an accurate and complete land survey of the Land and inspection of the Land. 4. Easements, or claims of easements, not recorded in the Public Records. 5. Any lien, or right to a lien, for services, labor, or material furnished, imposed by law and not recorded in the Public Records. 6. Any adverse ownership claim by the State of Florida by right of sovereignty to any portion of the Land(s) insured hereunder, including submerged, filled and artificially exposed lands, and lands accreted to such lands. 7. Easement in favor of the City of Clearwater, recorded August 21, 2009 in O.R. Book 16678, page 144, Public Records of Pinellas County, Florida. 8. Paragraphs 2& 5 above are hereby deleted. FORM OF6-SCH-B (rev. 12/10) (With Florida Modifications) (oz�n ��spiaysoe ot-wtN•F�-owtaswsov-ob) (Covexerl Risks continued) 6. An enforcement action based on the exercise of a governmental police power not covered by Covered Risk 5 if a notice of the enforcement acdon, describinganypart of the Iand, is recorded in the Public Records, but only to the extent of the enforcement referred to in that notice. 7. The exercise of the rights of eminent domain if a notice of the exercise, describing any part of the land, is recorded in the Public Records. 8. Any taking by a go��ernmental body that has occurred and is binding on the rights of a purchaser for value without Knowledge. 9. Tide being vested other than as stated in Schedule A or being defective {a) as a result of the a�roidance in whole or in part, or from a court order providing an alternati��c remedy, of a transfer of all or any part of the ude to or any interest in the Land occurring prior to the transaction vesting Tide as shown in Schedule A because that pnor transfer constituted a fraudulent or preferential transfer under federal bankiuptry, state insokenry, or similar creditors' rights laws; or (b)becausetheinstnimentoftranafervesting TitleasshowninScheduleAconstitutesapreferenrialtransferunderfederalbanktuptcy, state insolvency, or similar creditors' rights laws by reason of the failure of its recording in the Public Records (i) to be timel,v, or (ri) to impart notice of its existence to a purchaser for �alue or to a judgment or lien creditor. 10. Any defect in or lien or encumbrance on the T"itle or other matter included in Covered Risks 1 thmugh 9 that has been created or attached or has been filed or recorded in the Public Records subsequent to Date of Poliry and prior to the recording of the deed or other instrument of transfer in the Public Records that vests Title as shown in Schedule A. The Company will aLso pay the costs, attorneys' fees, and expenses incurred in defense of any matter insured against by this Poliry, but only to the extent provided in the Conditions. IIiQ.USIONS FROM COVERAGE The following matters are espressly excluded from the coverage of this policy, and the Company will not pay loss or damage, costs, attorneys' fees, or expenses that arise by reason o£ i. (a) Any law, ordinance, permit, or governmental regulation ( including those relating to building and zoning) restricting, regulating, prohibiting, or relating to (i) the occupancy, use, or enjoyment of the Land; (ii) the character, dimensions, or location of any improvement erected on the Land; (iii) the subdit�ision of land; or {iv) environmental protection; or the effect of any violation of these laws, ordinances, or governmental regulations. This Exclusion 1(a) does not modify or limit the coverage provided under Covered Risk 5. {b) Any governmental police power. This Exclusion 1(b) does not modify or limit the coverage provided under Covered Risk 6. 2. Rights of eminent domain. 'This Exclusion does not modify or limit the coverage provided under Covered Risk 7 or 8. 3. Defects, liens, encumbrances, adverse claims, or other mattcrs {a) created, suffered, assumed, or agreed to by the Insured Claimant; {b) not Rnown to the Company, not recorded in the Public Records at Date of Policy, but Hnown to the Insured Claimant and not disclosed in writing to the Company by the Insured Claimant prior to the date the Insured Claimant became an Insured under this policy; (c) resulting in no loss or damage to the Insured Claimant; (d) attaching or created subsequent to Date of Policy; or (e) resuldng in loss or darnage that would not have been sustained if the Insured Claimant had paid value for the Title. 4. Any claim, by reason of the operation of federal bankruptcy, state insolvency, or similar creditors' rights laws, that the transaction vesting the Title as shown in Schedule A, is (a) a fraudulent conveyance or fraudulent transfer; or (b) a preferential transfer for any reason not stated in Covered Risk 9 of this policy. 5. Any lien on the Tide for real estate ta�ces or assessments imposed by governmental authority and created or attaching between Date of Poliry and the date of recording of the deed or other instniment of transf'er in the Public Records that vests Title as shown in Schedule A FORM OF6 (rev 12/10)(With Florida Modficetions) 2 of 6 CONDITIONS 1. DEFINITION OF TERMS The following terms when used in this poliry mean: (a) "Amount of Insurance": T'he amount stated in Schedule A, as may be increased or decreased by endorsement to this poliry, increased by Section 8(b), or decreased by Sections 10 and 11 of these Gonditions. (b) "Date of Policy": The date designated as "Date of Policy" in Schedule A. (c) "Entity": A corporation, partnership, trust, limited liability company, or other similar legal entiry,. (d) "Insured": The Insured named in Schedule �1. (i) the tenn "Insured" also includes (A) successors to the Title of the Insured by operation of law as distinguished from purchase, induding heirs, devisees, sunivors, personal representatives, or next of kin; (B) successors to an tnsured by dissolution, merger, consolidation, dis�ibution, or reorganization; (C) succcssors to an Insured by its conversion to another kind of Entit,y; (D) a grantee of an Insured under a deed delnrered without payrx►ent of actual valuable considera6on cont�eying the Tide (1) if the stock, shares, memberships, or other equity interests of the grantee are wholly-owned by the named Insured, (2) if the grantee wholly owns the named Insured, (3) if the grantee is whol ed b}� an �liated EnBty of the named Insured, provided the affiliated Entity and the named Insured are both who lyowned by the same person or Endty, or (4) if the grantee is a tiustee or beneficiary of a trust created by a wriuen insvument established by the Insured named in Schedule A for estate planning purposes. (ii) with re� to (A), (B), (C), and (D) reseiving, however, all rights and defenses as to any successor that the Company would ave had against any predecessor lnsured. (e) "Insured Claimant": An Insured claiming loss or damage. (� "Knowledge" or "Known": Actual knowledge, not constructive knowledge or nodce that may be imputed to an Insured by reason of the Public Records or any other records that impart consuvctive noticc of matters affecting the'Iide. (g) "Land": The land described in Schedule A, and affixed improvements that by law constitute real property. The term "Land" doea not include any property beyond the lines of the area described in Schedule A, nor any right, title, interest, estate, or eascment in abutting streets, roads, avenues, alleys, lanes, ways, or waterways, but this does not modify or lirait the extent that a right of access to and from the Land is insured by this poliry. (h) "Mortgage": Mortgage, deed of trust, uvst deed, or other security instrument, including one evidenced by electronic means authorized by law. (i) "Public Records": Records established under state statutes at Date of Policy for the purpose of imparting constructive notice of matters relating to real propert� to purchasers for value and without Bnawledgc. With respect to Covcred Risk 5(d), "Public Records" ahall also include envtronmental protection liens filed in the records of the clerk of the United States District Court for the district where the Land is located. (j) "Tide": The estate or interest described in Schedule A. (k) "Unmarketable Tide": Title affected by an alleged or apparent matter that would permit a prospective purchaser or lessee of the Tide or lender on the Tide to be released from the obligation to purchase, lease, or lend if there is a contractual condition requiring the delivery of marketable tide. 2. CONTINUATION OF INSURANCE The coverage of this poliry shall continue in force as of Date of Poliry in favor of an Insured, but only so long as the Insured retains an estate or interest in the Land, or holds an obligation secured by a purchase moncy Mortgage given by a purchaser from the Insured, or only so long as the Insured shall have liability by reason of warranties in any transfer or conveyru►ce of the Titie. This poliry shall not continue in force in favor of any purchaser from the Insured of either (i) an estate or interest in the Land, or (ii) an obligation secured bv a purchase money Mortgage given to the Insured. 3. NOTICE OF CLAIM TO BE GIVEN BY INSiJRED CLAIMANT The Insured shall notify the Company promptly in writing (i) in case of any litigation as set forth in Section 5(a) of these Conditions, (ii) in case Knowle� shall come to an Insured hereunder of any claim of dtle or interest that is adverse to the Tide, as insured, and that might cause loss or amage forwhich the Companymay be liable byvirtue of this poliry, or (rii) if the Tide, as insured, is re�jected as Unmarketable Title. If the Company is prejudiced by the failure of the Insured Claimant to prrnnde prompt notice, the Company s liability to the Insured Claimant under the policy shall be reduced to the extent of the prejudice. 4. PROOF OF LOSS In the event the Companv is unable to determine the amount of loss or damage, the Company may, at its op6on, require as a condition of payment that the Insured Claimant furnish a signed proof of loss. The proof of loss must desci-ibe the defect, lien, encumbrance, or other matter insured against by this poliry that constitutes the basis of loss or damage and shall state, to the extent possible, the basis of calculating the amount of the loss or damage. FORM OF6 (rev. 12J10xWith Fbrida Madifications) 3 of 6 5. DEFENSEANDPROSECUTIONOFACTIONS (a) Upon written request by the Insured, and subject to the options contained in Section 7 of these Conditions, the Company, at its own cost and without unreasona�ile delay, shall provide for the defense of an tnsured in litigation in which any third partyasserts a claim covered by this policy adverse to the Insured. 'This obligation is limited to only those stated cattses of action alleging matters insured against by this policy. The Company shall have tt►e right to select counsel of its choice (sub'ect to the ri ht of the Insured to ob'ect for rea.sonable cause) to represent the Insured as to those stated causes of action. It shall not be�abk for an� will not pay the fees o�any other counsel. The Cornpan,ywiil not paY anyfees, costs, or e•cpenses incurred by the Insured in the defense of those causes of action that allege matters not insured against by th�s policy. (b) The Company shall have the right, in addiuon to the options contained in Secdon 7 of these Conditions, at its own cost, to institute and pmsecute any action or proceed�ng or to do any other act that in its opinion may be necessaiy or desirable to establish the Tide, as insured, or to prevcnt or reduce loss or damagc to the Insured. The Company may take anp appropriate action under the terms of this poliry, whether or not it shall be liable to the Insured. The exercise of these nghts shall not be an admission of liability or waiver of any provision of this policy. Lf the Company e�cercises its rights under this subsection, it must do so diligendy. (c) V4'hener�ertheGompanybringsanactionorassertsadefenseasrequiredorpermittedbythispolicy,theCompanymaypursuethelitigation to a final determination by a court of competent jurisdiction, and it e�cpressly reserves the right, in its sole discretion, co appeal any adverse judgment or order. 6. DUTY OF INSURED CIAII►fANT TO COOPERATE (a) In all cases where this policy rmits or requires the Company to prosecute or provide for the defense of any action or proceeding and any appeals, the Insured sh�secure to the Company the right to so prosecute or pmvide defense in the acrion or proceeding, including therighttouse,atitsoption,thenameoftheInsuredforthispuipose. WheneverrequestedbytheCompany,theInsured,attheCompany's expense, shall give the Campany all reasonable aid (i) in securing et�dence, obtainingwitnesses, prosecuting or defending the action or pmceeding, or effecting settlement, and (ii) in any other lawful act that in the opinion of the Company may be necessary or desirable to establish the Title or any other matter as insured. ff tt�e Company is prejudiced by the failure of the Insured to furnish the required cooperadon, the Company's obligadons to the Insured under the policy shall terminate, includingan,y liability or obligation to defend, pmsecute, or continue any lidgation, with regard to the matter or matters requiring such cooperation. (b) The Cornpany may reasonably require the Insured Claimant to submit to e�tamination under oath by any authorized representative of the Company and to pmduce for examination, inspection, and copying, at such reasonable times and places as may be designated by the authorized representative of the Company, all records, in whatever medium maintained, includ'mg books, ledgers, checks, memoranda, correspondence, reports, e-mails, disks, rapes, and videos whether bearing a date before or after Date of Poliry, that reasonably pertain to the loss or damage. Further, if requested by any authorized representative of the Company, the Insured Claimant shall grant its permission, in wTiting, for any authorized representative of the Company to examine, inspect, and copyall of these records in the custody or control of a third party that reasonably pertain to the loss or damage. All inforn►ation designated as confidential by the Insured Claimant provided to the Com pany pursuan t to this Section shall not be disclosed to others unless, in the reasonable judgment of the Company, it is necessaryin the administration of the claim. Failure ofthe Insured Glaimant to submit forexamination under oath, produce any reasonably requested information, or grant permission to secure reasonably necessary information from third parties as required in this subsection, unless prohibited by law or governmental regulation, shall terminate anyliability of the Companyunder this policy as to that claim. 7. OPTIONS TO PAY OR OTf�RWISE SEITLE CLAIMS; TERMINATION OF LIABII.ITY In case of a claim under this poliry, the Company shall have the following additional options: (a) To Pay or Tender Paytnent of the Amount of Insurance. To pay or tender payment of the Amount of Insurance under this policy together with any costs, attorneys' fees, and expenses incurred by the Insurcd G7aimant that were authorized by the Companp up to the dme of payment or tender of payment and that the Company is obligated to pay. Upon the e�cercise bythe Companyof this option, all liabilityand obligationsof the Company to the Insured under this poliry, other than to make the payment required in this subsection, shall terminate, including any liability or obligadon to defend> prosecute, or continue anylitigation. (b) To Pay or Othetwise Settle With Parties Other Than the Insured or With the Insured Claimant. (i) to pay or othenvise settle wzth other parties for or in the name of an Insured Claimant any claim insured against under this poliry. In addiuon, the Company will pay any costs, attorneys' fees, and expenses incurred by the Insured Qaimant that were authorized by the Company up to the time of payment and that the Company is obligated to pay; or (ii}to pay or othenvise settle with the Insured Claimant the loss or damage provided for under this poliry, together with any costs, auorneys' fees, and e.xpenses incurred by the Insured Claimant that were authorized by the Company up to the dme of payment and that the Company is obligated to pay. Upon the exercise by the Company of either of the options provided for in subsections (b) {i) or {n), the Company's obligations to the Insured under this policy for the claim�d loss or damage, other than the payments required to be made, shall terminate, including any liability or obligation to defend, prosecute, or continue any litigation. 8. DETERII�TATION AND F3LTENT OF LIABILITY This poliry is a contiact of indemnity against actual monetary loss or damage sustained or incurred by the Insured Claimant who has suffered loss or damage by reason of matters insured against by this policy. (a) The estent of liability of the Company for loss or damage under this policy shall not exceed the lesser of (i) the Amount of Insurance; or (ii) the difference between the value of the Title as insured and the value of the Title subject to the risk insured agtinst by this policy. (b) If the Company pursues its rights under Section 5 of these Conditions and is unsuccessfiil in establishing the Title, as insured, FORM OF6 (rev. 12/10)(With Floride Modificetions) 4 of 6 (i) the Anmount of Insurance shall be increased by 103'0, and {ii) the Insured Claimant shall have the right to have the loss or damage determined either as of the date the claim was made by the Insured Claimant or as of the date it is settled and paid. (c) In addidon to the extent of liability under (a) and (b) , the Companywill also pay those costs, attorneys' fees, and expenses incurred in accordance with Scctions 5 and 7 of these Conditions. 9. I.II�IITATION OF LIAB1LiTY (a) If the Company establishes the Tide, or removes the alleged defect, lien, or encumbrance, or cures the lack of a right of access to or from the Land, or cures the claim of Unmarketable Title, all as insured, in a reasonably diligent manner b,y any method, including liti�{ation and the completion of any appeals, it shall have fully performed its obligadons with respect to that matter and shall not be liable for any loss or damage caused to the Insured. {b) In the event of any litigation, including litigauon by the Company or with the Company's conscnt, the Company shall have no liability for loss or damage until there has been a final determinadon bya court ofcompetent jurisdicaon, and disposition of all appeaLs, adverse to the Title, as insured. (c) The Company shall nat be liable for loss or damage to the Insured for liability voluntarily assumed by the Insured in settling any claim or suit without the prior written consent of the Company. 10. REDUGTION OF INSURANCE; REDUCI'ION OR TERMINATION OF LIABII.11'Y All payments under this poliry, except payments made for costs, attorne}�s' fees, and eYpenses, shall reduce the Amount of Insurance by the amount of the payment. 11. LIABII.ITYNONCUMUTATIVE The Amount of Insur�nce shall be reduced by any amount the Company pays under any poliry insuring a Mortgage to which excepuon is taken in Schedule B or to which the Insured has agreed, assumed, or taken subject, or which is executed by an Insured after Date of Poliry and which is a charge or lien on the Tide, and the amount so paid shall be deemed a payment to the Insured under this policy. 12. PAYMENT C?F LOSS When liability and the e?ctent of loss or damage hat>e been definitely fised in accordance with these Conditions, the payment shall be made within 30 days. 18. RIGHTS OF RECOVERY UPON PAYMENT OR SETTLEMENT (a) �dhenever the Company shall have settled and paid a claim under this poliry, it shall be subrogated and entided to the rights of the Insured Claimant in the Title and all other rights and remedies in respect to the claim that the Insured Claimant has against any person or property, to the estent of the amount of any loss, costs, attorneys' fees, and expenses paid by the Company. tf requested by the Company, the Insured Claimant shall esecute documents to evidence the transfer to the Company of these rights and remedies. The Insured Qaimant shall permit the Company to sue, compromise, or settle in the name of the Insured Claimant and to use the name of the Insured Claimant in any transaction or litigation involving these rights and remedies. If a payment on account of a claim does not fully cover the loss of the lnsured Claimant, the Company shall defer the exercise of its right to recover until after the Insured Claimant shall ha��e recovered its loss. (b) The Company's right of subrogation includes the r'�ghts of the Insured to indemniues, guaranties, other policies of insurance, or bonds, notwithstanding any terms or condirions contained in those instruments that address subrogation rights. 14. ARBITRATION Unless prohibited by applicable law, arbitration pursuant to the Title Insurance Arbitration Rules of the American Arbitration Association may be demanded if agreed to by both the Company and the Insured at the time o�' the c�►tro�rrsy or claim. Arbit�able matteis may include, but are not limited to, any controveisy or claun between the Company and the Insured arising out of a relating to this polic}; and service of the Company in connecdon with its isaaance or the breach of a pdicy provuion or other obligation. Arbitiation putauant to this policy and under the Rules in effect on the date the demand for arbitration is made or, at the option o�t' the Insured, the Rules in effect at Date of Policy shall be binding upon the parties. The awa�d may include attorneys fees only if the laws of the state in which the Iand is located �emut a c�rt to award attorneys' fees to a prevailing part}: Judgmeat upon the award rendered by the Arbitrator(s) may be entered in any murt ha�nng jurisdiction thereof: The law of the situs of the land shall apply to an arbitration under the Title Insutance Arbitration Rules. A copy of the Rules may be obtained from the Company upon request. 15. LIABII.ITY LIMITED TO TEIIS POLICY; POLICY ENTIRE CONTRAGT (a) This poliry together wzth all endorsements, if any, attached to it by the Company is the entire poliry and contract between the Insured and the Company. In interpreting any provision of this poliry, this poliry shall be construed as a whole. (b) Any claim of loss ordamage that arises out of the status of the Title or by any action asserting such claimwhether or not based on negligence shall be restricted to this poliry. (c) Anyamendmentoforendorsementtothispolicymustbeinwritingandauthenticatedbyanauthorizedperson,orexpresslyincorporated by Schedule A of this poliry. (d) Each endorsement to this policy issued at any time is made a part of this poliry and is subject to all of its terms and provisions. Except astheendorsementexpresslystates,itdcesnot (i) modifyanyofthetermsandprovisionsofthepolicy, (ii)modif'yanypriorendorsement, (iii) estend the Date of Poliry, or (iv) increase the Amount of Insurance. FORM OF6 (rev. 17J10)(1Nith Flaida Modfications) 5 of 6 � 16. SEVERABIIITI' In the event any pmvision of this poliry, in whole or in part, is held invalid or unenforceable under applicable law, the policy shall be deemed not to inch�de that pro��ision or such part held to be invalid, but all other provisions shall remain in fWl force and effect. 17. CNOICE OF LAW; FORUM (a) Choice of Law: T'he Insured acknowledges the Company has undetwritten the risks covered by this poliryand determined the premium charged therefor in reliance upon the law af�ecting interests in real property and applicable to the interpretation, rights, remedies, or enforcement of policies of ride insurance of the jurisdiction where the Iand is located. Therefore, the court or an arbitrator shall apply the law of the jurisdicdon where the Land is located to determine the ��alidity of claims against the Title that are adverse to the Tnsured and to interpret and enforce the terms of this poliry. In neither case shall the court or arbitrator apply its conflicts of law principles to determine the applicable law. {b) Choice of Forum: Any litigation or other proceeding brought by the Insured against the Company must be filed only in a state or federal court within the United States of America or its territories having appropriate jurisdiction. 18. NOTICFS, ti1'HERE SENT Any notice of claim and any other nodce or statement in writing required to be given to the Company under this policy must be given to the Company at 400 Second At>enue South, Minneapolis, Minnesota 55401-2499, Phone: (612) 371-1111. FORM OF6 (rev. 1?J10)(With Floride Modficetions) �� g � 00 � ¢ °� � � � � y y � � � � �' Gii � � � �--� �� o �, � � p "�� . �' � _ � �m -��' � _ � � � �� o j � � '� m m � � � � � �*** � * � � �* * *� � � ,��o oz r",r� � � � �� n r� y �' � � � �4 O � � O a �d G �' A� � �• � � 6of6