MARY CUSTIS LEE - CHAPTER 1451 OF THE UNITED DAUGHTERS OF THE CONFEDERACY INC (2)1'
Prepared by and return to:
Bankers Title/Lynn Hoffstetter
509 South Martin Luther King Jr. Ave., Suite A
Clearwater, Florida 33756
File Number: 02160039
Parcel ID Number: 16- 29 -16- 00000 - 240 -0800
consideration $250,000.00
WARRANTY DEED
KEN BURKE, CLERK OF COURT
AND COMPTROLLER PINELLAS COUNTY, FL
INST# 2016113433 04/18/2016 at 09 :54 AM
OFF REC BK: 19157 PG: 468 -469
DocType :DEED RECORDING: $18.50
D DOC STAMP: $1750.00
THIS INDENTURE made this, day of April, 2016 BETWEEN MARY CUSTIS LEE,
CHAPTER 1451 OF THE UNITED DAUGHTERS OF THE CONFEDERACY, INC., of the
County of Pinellas, State of Florida, Grantor, and CITY OF CLEARWATER FLORIDA, of the
County of Pinellas, State of Florida, Grantee, whose address is:
Post Office Box 4748, Clearwater, FL 33758
WITNESSETH, That said Grantor, for and in consideration of the sum of Ten and No /100
Dollars and other good and valuable considerations to said grantor in hand paid by said grantee,
the receipt whereof is hereby acknowledged, has granted, bargained and sold to the said grantee,
and grantee's heirs and assigns forever, the following described land, situate, lying and being in
Pinellas County, Florida, to wit:
THE WEST 147 FEET OF A PARCEL MORE PARTICULARLY DESCRIBED AS
FOLLOWS:
COMMENCING AT A POINT 50 FEET NORTH OF THE SE CORNER OF GOVERNMENT
LOT 2, SECTION 16, TOWNSHIP 29 SOUTH, RANGE 16 EAST, RUN NORTH 155 FEET;
THENCE WESTERLY PARALLEL WITH GULF -TO -BAY BOULEVARD 720 FEET;
THENCE SOUTH 155 FEET TO THE NORTH BOUNDARY OF SAID BOULEVARD;
THENCE EASTERLY ALONG THE NORTH BOUNDARY OF SAID BOULEVARD TO
P.O.B. LESS AND EXCEPT LANDS DESCRIBED IN DEEDS RECORDED IN OFFICIAL
RECORDS BOOK 6656, PAGE 1415 AND OFFICIAL RECORDS BOOK 17093, PAGE 2144.
SUBJECT TO easements, restrictions and reservations of record.
And the grantor hereby covenants with said grantee that the grantor is lawfully seized of said
land in fee simple; that the grantor has good right and lawful authority to sell and convey said
land; that the grantor hereby fully warrants the title to said land and will defend the same against
the lawful claims of all persons whomsoever.
r
•
IN WITNESS WHEREOF, Grantor has hereunto set Grantors hand and seal the day and year first
above written.
Signed, sealed & delivered
in the presence of:
Witness
Print Name:
S. 6- W ATr
MARY CUSTIS LEE CHAPTER 1451 OF
THE UNITED DAUGHTERS OF THE
CONFEDERACY, INC.
,Cvo,3 azo�e-
DORRIS FOLWELL Treasurer
Address: / w24 V
Ate!44 - , .3 16'4
STATE OF FLORIDA / COUNTY OF PINELLAS
I HEREBY CERTIFY that on this/ 2i " day of April, 2016 before me, an officer duly qualified
to take acknowledgements, appeared DORRIS FOLWELL, Treasurer of the MARY CUSTIS
LEE, CHAPTER 1451 OF THE UNITED DAUGHTERS OF THE CONFEDERACY, INC.,
who is /are personally kn by me• or who has/have produced identification attesting to
Affiant's identity, to wit tj L/C - ; who executed the foregoing
instrument and acknowledged before me the execution of the same.
WITNESS my hand and official seal in the County and State last aforesaid this /
Day of April, 2016.
My commission expires:
s„,r .Tv PV 4, 4• LYNN HOFFSTETTER
- � : Notary Public - State of Florida
• My Comm. Expires Dec 17. 2018
=;��P Commission # FF 158840
•iF OF Ft'4%.
' Bonded through National Notary Assn.
Bankers Title
509 South Martin Luther King Jr. Ave.
Suite A
Clearwater , FL 33756
727 - 442 -3300 727 - 465 -9593
June 13, 2016
City of Clearwater Florida
Post Office Box 4748
Clearwater, FL 33758
RE: XXX Gulf to Bay Blvd, Florida
To Whom It May Concern,
Enclosed please find your recorded deed and title insurance policy in connection with this recent real estate
transaction.
Please keep these documents with your other important papers.
It has been our pleasure to serve you. We look forward to serving all of your title needs in the future.
Thank you.
Cordially,
Closing Agent
Enc.
Owner's Title Policy
Bankers Title 04/03
ORT File No. 16020371
Agent File No.: 02160039
OWNER'S POLICY OF TITLE INSURANCE (with Florida Modifications)
Policy Number OXFL 08462016
Issued by Old Republic National Title Insurance Company
Any 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 Company at the
address shown in Section 18 of the Conditions.
COVERED RISKS
SUBJECT TO THE EXCLUSIONS FROM COVERAGE, THE EXCEPTIONS FROM COVERAGE CONTAINED IN SCHEDULE B, AND THE CONDITIONS,
OLD REPUBLIC NATIONAL TITLE INSURANCE COMPANY, a Florida corporation (the "Company ") insures, as of Date of Policy, against loss or damage, not
exceeding the Amount of Insurance, sustained or incurred by the Insured by reason of:
I . Title being vested other than as stated in Schedule A.
2. Any defect in or lien or encumbrance on the Title. This Covered Risk includes but is not limited to insurance against loss from:
(a) A defect in the Title caused by
(i) forgery, fraud, undue influence, duress, incompetency, incapacity, or impersonation;
(ii) failure of any person or Entity to have authorized a transfer or conveyance;
(iii) a document affecting Title not properly created, executed, witnessed, sealed, 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, expired, or otherwise 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 authorized by
law; or
(vii) a defective judicial or administrative proceeding.
(b) The lien of real estate taxes 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 Title that would be disclosed by an accurate and complete land
survey of the Land. The term "encroachment" includes encroachments of existing improvements located on the Land onto adjoining land, and
encroachments onto the Land of existing improvements located on adjoining land.
3. Unmarketable Title.
4. No right of access to and from the Land.
5. The violation or enforcement of any law, ordinance, permit, or governmental regulation (including those relating to building and zoning) restricting, regulating,
prohibiting, or relating to
(a) the occupancy, 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) environmental protection
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.
Issued through the Office of:
Amalgamated Steel Corp of America, Inc d /b /a Bankers Title
509 S. Martin Luther King Jr. Ave Ste `
Clearwater, FL 33756
Phon 27- 442 -3300
Authorized Signature
OLD REPUBUC NATIONAL T1TIE NI811RANCE COMPANY
A Stock Company
400 Second Avenue South M+nrleaPoNS. Minnesota 5540?
1612)371 -111I
7
AUttst --(3)
ORT Form 4309
AI TA flwnrr'c Pnliry of Title Incur inrp 6 -17 -116
SCHEDULE A
Name and Address of Title Insurance Company:
OLD REPUBLIC NATIONAL TITLE INSURANCE COMPANY
400 Second Avenue South
Minneapolis, MN 55401 -2499
ORT File No.: 16020371 Policy Number: OXFL 08462016
Agent File No.: 02160039
Address Reference: FL
Amount of Insurance: $250,000.00 Premium: $1,325.00
Date of Policy: April 18, 2016 at 9:54 am
1. Name of Insured:
CITY OF CLEARWATER FLORIDA
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
4. The Land referred to in this Policy is described as follows:
COMMENCING AT A POINT 50 FEET NORTH OF THE SE CORNER OF GOVERNMENT LOT 2,
SECTION 16, TOWNSHIP 29 SOUTH, RANGE 16 EAST, RUN NORTH 155 FEET; THENCE WESTERLY
PARALLEL WITH GULF -TO -BAY BOULEVARD 720 FEET; THENCE SOUTH 155 FEET TO THE
NORTH BOUNDARY OF SAID BOULEVARD; THENCE EASTERLY ALONG THE NORTH BOUNDARY
OF SAID BOULEVARD TO P.O.B. LESS AND EXCEPT LANDS DESCRIBED IN DEEDS RECORDED IN
OFFICIAL RECORDS BOOK 6656, PAGE 1415 AND OFFICIAL RECORDS BOOK 17093, PAGE 2144.
ORT Form 4309 Page 1
ALTA Owner Policy of Title Insurance 6/06
ORT File No. 16020371
Agent File No.: 02160039
Policy Number: OXFL 08462016
SCHEDULE B
EXCEPTIONS FROM COVERAGE
This policy does not insure against loss or damage, and the Company will not pay costs, attorneys' fees, or expenses that
arise by reason of:
1. General or special taxes and assessments required to be paid in the year 2016, and subsequent years, which
are not yet due and payable.
2. Any lien provided by County Ordinance or by Ch. 159, F.S., in favor of any city, town, village or port
authority, for unpaid service charges for services by any water systems, sewer systems or gas systems serving
the land described herein; and any lien for waste fees in favor of any county or municipality, none due and
payable.
3. Easement granted to the City of Clearwater recorded in O.R. Book 5034, Page 108.
4. 4' chain link fence encroaches over North lot line and signs (fiber optic vaults)
encroabh over South lot line and concrete sidewalk encroaches on westerly
lot line per survey prepraed by Deuel & Associates dated 04/07/2016.
NOTE: All recording references in this policy shall refer to the Public Records of Pinellas County, unless
otherwise noted.
ORT Form 4309
ALTA Owner Policy of Title Insurance 6/06
Page 2
CQRT,File No. 16020371
Agent File No.: 02160039
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 action, describing any
part of the Land, 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 governmental body that has occurred and is binding on the rights of a purchaser for value without Knowledge.
9. Title being vested other than as stated in Schedule A or being defective
(a) as a result of the avoidance in whole or in part, or from a court order providing an alternative remedy, of a transfer of all or any part of the title to or any
interest in the Land occurring prior to the transaction vesting Title as shown in Schedule A because that prior transfer constituted a fraudulent or preferential
transfer under federal bankruptcy, state insolvency, or similar creditors' rights laws; or
(b) because the instrument of transfer vesting Title as shown in Schedule A constitutes a preferential transfer under federal bankruptcy, state insolvency, or similar
creditors' rights laws by reason of the failure of its recording in the Public Records
(i) to be timely, or
(ii) to impart notice of its existence to a purchaser for value or to a judgment or lien creditor.
10. Any defect in or lien or encumbrance on the Title or other matter included in Covered Risks 1 through 9 that has been created or attached or has been filed or
recorded in the Public Records subsequent to Date of Policy 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 Policy, but only to the extent provided in
the Conditions.
EXCLUSIONS FROM COVERAGE
The following matters are expressly excluded from the coverage of this policy, and the Company will not pay loss or damage, costs, attorneys' fees, or expenses that
arise by reason of:
1. (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 subdivision 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 matters
(a) created, suffered, assumed, or agreed to by the Insured Claimant;
(b) not Known to the Company, not recorded in the Public Records at Date of Policy, but Known to the Insured Claimant and not disclosed in writing to the
Company by the Insured Claimant prior to the date the Insured Claimant became an Insured under this policy;
(c) resulting in no loss or damage to the Insured Claimant;
(d) attaching or created subsequent to Date of Policy or
(e) resulting in loss or damage 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 Title for real estate taxes or assessments imposed by governmental authority and created or attaching between Date of Policy and the date of
recording of the deed or other instrument of transfer in the Public Records that vests Title as shown in Schedule A.
CONDITIONS
1. DEFINITION OF TERMS
The following terms when used in this policy mean:
(a) "Amount of Insurance ": The amount stated in Schedule A, as may be increased or decreased by endorsement to this policy, increased by Section 8(b), or
decreased by Sections 10 and 11 of these Conditions.
(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 entity.
(d) "Insured ": The Insured named in Schedule A.
(i) The term "Insured" also includes
(A) successors to the Title of the Insured by operation of law as distinguished from purchase, including heirs, devisees, survivors, personal
representatives, or next of kin;
(B) successors to an Insured by dissolution, merger, consolidation, distribution, or reorganization;
(C) successors to an Insured by its conversion to another kind of Entity;
(D) a grantee of an Insured under a deed delivered without payment of actual valuable consideration conveying the Title
(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 wholly -owned by an affiliated Entity of the named Insured, provided the affiliated Entity and the named Insured are both
wholly -owned by the same person or Entity, or
(4) if the grantee is a trustee or beneficiary of a trust created by a written instrument established by the Insured named in Schedule A for estate
planning purposes.
(ii) With regard to (A), (B), (C), and (D) reserving, however, all rights and defenses as to any successor that the Company would have had against any
predecessor Insured.
ORT Form 4309
AI TA flwnrr'c Pnliry of Title Incnrs nrr 6_17_06
ORT, File No. 16020371
Agent File No.: 02160039
(e) "Insured Claimant ": An Insured claiming loss or damage.
(f) "Knowledge" or "Known ": Actual knowledge, not constructive knowledge or notice that may be imputed to an Insured by reason of the Public Records or
any other records that impart constructive notice of matters affecting the Title.
(g) "Land ": The land described in Schedule A, and affixed improvements that by law constitute real property. The term "Land" does not include any property
beyond the lines of the area described in Schedule A, nor any right, title, interest, estate, or easement in abutting streets, roads, avenues, alleys, lanes, ways,
or waterways, but this does not modify or limit the extent that a right of access to and from the Land is insured by this policy.
(h) "Mortgage ": Mortgage, deed of trust, trust 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
property to purchasers for value and without Knowledge. With respect to Covered Risk 5(d), "Public Records" shall also include environmental protection
liens filed in the records of the clerk of the United States District Court for the district where the Land is located.
(j) "Title ": The estate or interest described in Schedule A.
(k) "Unmarketable Title": Title affected by an alleged or apparent matter that would permit a prospective purchaser or lessee of the Title or lender on the Title to
be released from the obligation to purchase, lease, or lend if there is a contractual condition requiring the delivery of marketable title.-
2. CONTINUATION OF INSURANCE
(a) The coverage of this policy shall continue in force as of Date of Policy 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 money 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 conveyance of the Title. This policy 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 by a purchase money Mortgage given to the Insured.
3. NOTICE OF CLAIM TO BE GIVEN BY INSURED 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 Knowledge shall
come to an Insured hereunder of any claim of title or interest that is adverse to the Title, as insured, and that might cause loss or damage for which the Company
may be liable by virtue of this policy, or (iii) if the Title, as insured, is rejected as Unmarketable Title. If the Company is prejudiced by the failure of the Insured
Claimant to provide 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 Company is unable to determine the amount of loss or damage, the Company may, at its option, require as a condition of payment that the Insured
Claimant furnish a signed proof of loss. The proof of loss must describe the defect, lien, encumbrance, or other matter insured against by this policy 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.
5. DEFENSE AND PROSECUTION OF ACTIONS
(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
unreasonable delay, shall provide for the defense of an Insured in litigation in which any third party asserts a claim covered by this policy adverse to the
Insured. This obligation is limited to only those stated causes of action alleging matters insured against by this policy. The Company shall have the right to
select counsel of its choice (subject to the right of the Insured to object for reasonable cause) to represent the Insured as to those stated causes of action. It
shall not be liable for and will not pay the fees of any other counsel. The Company will not pay any fees, costs, or expenses incurred by the Insured in the
defense of those causes of action that allege matters not insured against by this policy.
(b) The Company shall have the right, in addition to the options contained in Section 7 of these Conditions, at its own cost, to institute and prosecute any action
or proceeding or to do any other act that in its opinion may be necessary or desirable to establish the Title, as insured, or to prevent or reduce loss or damage
to the Insured. The Company may take any appropriate action under the terms of this policy, whether or not it shall be liable to the Insured. The exercise of
these rights shall not be an admission of liability or waiver of any provision of this policy. If the Company exercises its rights under this subsection, it must
do so diligently.
(c) Whenever the Company brings an action or asserts a defense as required or permitted by this policy, the Company may pursue the litigation to a final
determination by a court of competent jurisdiction, and it expressly reserves the right, in its sole discretion, to appeal any adverse judgment or order.
6. DUTY OF INSURED CLAIMANT TO COOPERATE
(a) In all cases where this policy permits or requires the Company to prosecute or provide for the defense of any action or proceeding and any appeals, the
Insured shall secure to the Company the right to so prosecute or provide defense in the action or proceeding, including the right to use, at its option, the name
of the Insured for this purpose. Whenever requested by the Company, the Insured, at the Company's expense, shall give the Company all reasonable aid (i)
in securing evidence, obtaining witnesses, prosecuting or defending the action or proceeding, 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. If the Company is prejudiced by the failure
of the Insured to furnish the required cooperation, the Company's obligations to the Insured under the policy shall terminate, including any liability or
obligation to defend, prosecute, or continue any litigation, with regard to the matter or matters requiring such cooperation.
(b) The Company may reasonably require the Insured Claimant to submit to examination under oath by any authorized representative of the Company and to
produce 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, including books, ledgers, checks, memoranda, correspondence, reports, e- mails, disks, tapes, and
videos whether bearing a date before or after Date of Policy, 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 writing, for any authorized representative of the Company to examine,
inspect, and copy all of these records in the custody or control of a third party that reasonably pertain to the loss or damage. All information designated as
confidential by the Insured Claimant provided to the Company pursuant to this Section shall not be disclosed to others unless, in the reasonable judgment of
the Company, it is necessary in the administration of the claim. Failure of the Insured Claimant to submit for examination 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 any liability of the Company under this policy as to that claim.
7. OPTIONS TO PAY OR OTHERWISE SETTLE CLAIMS; TERMINATION OF LIABILITY
In case of a claim under this policy, the Company shall have the following additional options:
(a) To Pay or Tender Payment 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 Insured
Claimant that were authorized by the Company up to the time of payment or tender of payment and that the Company is obligated to pay.
Upon the exercise by the Company of this option, all liability and obligations of the Company to the Insured under this policy, other than to make the
payment required in this subsection, shall terminate, including any liability or obligation to defend, prosecute, or continue any litigation.
(b) To Pay or Otherwise Settle With Parties Other Than the Insured or With the Insured Claimant.
ORT Form 4309
AI .TA f)wnrr'c Pnliry of Title rncnr,nrr 6 -17 -116
ORT File No. 16020371
Agent File No.: 02160039
(i) to pay or otherwise settle with other parties for or in the name of an Insured Claimant any claim insured against under this policy. In addition, the
Company will pay any costs, attorneys' fees, and expenses incurred by the Insured Claimant 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 otherwise settle with the Insured Claimant the loss or damage provided for under this policy, together with any costs, attorneys' fees, and
expenses incurred by the Insured Claimant that were authorized by the Company up to the time 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 (ii), the Company's obligations to the Insured under this
policy for the claimed 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. DETERMINATION AND EXTENT OF LIABILITY
This policy is a contract 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 extent 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 against by this policy.
(b) If the Company pursues its rights under Section 5 of these Conditions and is unsuccessful in establishing the Title, as insured,
(i) the Amount of Insurance shall be increased by 10 %, 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 addition to the extent of liability under (a) and (b), the Company will also pay those costs, attorneys' fees, and expenses incurred in accordance with
Sections 5 and 7 of these Conditions.
9. LIMITATION OF LIABILITY
(a) If the Company establishes the Title, 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 by any method, including litigation and the completion of any appeals, it
shall have fully performed its obligations 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 litigation by the Company or with the Company's consent, the Company shall have no liability for loss or damage
until there has been a final determination by a court of competent jurisdiction, and disposition of all appeals, adverse to the Title, as insured.
(c) The Company shall not 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. REDUCTION OF INSURANCE; REDUCTION OR TERMINATION OF LIABILITY
All payments under this policy, except payments made for costs, attorneys' fees, and expenses, shall reduce the Amount of Insurance by the amount of the
payment.
11. LIABILITY NONCUMULATIVE
The Amount of Insurance shall be reduced by any amount the Company pays under any policy insuring a Mortgage to which exception 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 Policy and which is a charge or lien on the Title, and
the amount so paid shall be deemed a payment to the Insured under this policy.
12. PAYMENT OF LOSS
When liability and the extent of loss or damage have been definitely fixed in accordance with these Conditions, the payment shall be made within 30 days.
13. RIGHTS OF RECOVERY UPON PAYMENT OR SETTLEMENT
(a) Whenever the Company shall have settled and paid a claim under this policy, it shall be subrogated and entitled 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 extent of the amount of any
loss, costs, attorneys' fees, and expenses paid by the Company. If requested by the Company, the Insured Claimant shall execute documents to evidence the
transfer to the Company of these rights and remedies. The Insured Claimant 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 Insured Claimant, the Company shall defer the exercise of its right to recover until
after the Insured Claimant shall have recovered its loss.
(b) The Company's right of subrogation includes the rights of the Insured to indemnities, guaranties, other policies of insurance, or bonds, notwithstanding any
terms or conditions 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 of a controversy or claim. Arbitrable matters may include, but are not limited to, any controversy or
claim between the Company and the Insured arising out of or relating to this policy, and service of the Company in connection with its issuance or the breach of a
policy provision or other obligation. Arbitration pursuant to this policy and under the Rules in effect on the date the demand for arbitration is made or, at the
option of the Insured, the Rules in effect at Date of Policy shall be binding upon the parties. The award may include attorney's fees only if the laws of the state in
which the land is located permit a court to award attorneys' fees to a prevailing party. Judgment upon the award rendered by the Arbitrator(s) may be entered in
any court having jurisdiction thereof.
The law of the situs of the land shall apply to an arbitration under the Title Insurance Arbitration Rules.
A copy of the Rules may be obtained from the Company upon request.
15. LIABILITY LIMITED TO THIS POLICY; POLICY ENTIRE CONTRACT
(a) This policy together with all endorsements, if any, attached to it by the Company is the entire policy and contract between the Insured and the Company. In
interpreting any provision of this policy, this policy shall be construed as a whole.
(b) My claim of loss or damage that arises out of the status of the Title or by any action asserting such claim whether or not based on negligence shall be
restricted to this policy.
(c) Any amendment of or endorsement to this policy must be in writing and authenticated by an authorized person, or expressly incorporated by Schedule A of
this policy.
ORT Form 4309
A1. TA Owner'c Policy of Title Inenrssnre 6 -17_06
ORT File No. 16020371
Agient File No.: 02160039
(d) Each endorsement to this policy issued at any time is made a part of this policy and is subject to all of its terms and provisions. Except as the endorsement
expressly states, it does not (i) modify any of the terms and provisions of the policy, (ii) modify any prior endorsement, (iii) extend the Date of Policy, or (iv)
increase the Amount of Insurance.
16. SEVERABILITY
In the event any provision of this policy, in whole or in part, is held invalid or unenforceable under applicable law, the policy shall be deemed not to include that
provision or such part held to be invalid, but all other provisions shall remain in full force and effect.
17. CHOICE OF LAW; FORUM
(a) Choice of Law: The Insured acknowledges the Company has underwritten the risks covered by this policy and determined the premium charged therefor in
reliance upon the law affecting interests in real property and applicable to the interpretation, rights, remedies, or enforcement of policies of title insurance of
the jurisdiction where the Land is located.
Therefore, the court or an arbitrator shall apply the law of the jurisdiction where the Land is located to determine the validity of claims against the Title that
are adverse to the Insured and to interpret and enforce the terms of this policy. 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. NOTICES, WHERE SENT
Any 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 Company at 400
Second Avenue South, Minneapolis, Minnesota 55401 -2499.
ORT Form 4309
AI TA fhvnpr'c Pnliry of Title Incur/met. 6 -17 -06