EXCLUSIONS FROM COVERAGE by reason of the public records as defined in this policy or any other
<br /> The following matters are expressly excluded from the coverage records which impart constructive notice of matters affecting
<br /> the land .
<br /> of this policy and the Company will not pay loss or damage , costs , Id ) " land " : the land described or
<br />referred to in Schedule A, and
<br /> attorneys' fees or expenses which may arise by reason of : improvements affixed thereto which by law constitute
<br />real property.
<br /> 1 . ( a ) Any law, ordinance or governmental regulation ( including but The term " land " does not include any property
<br /> beyond the lines of
<br /> not limited to building and zoning laws , ordinances , or regulations ) the area described or referred to in Schedule
<br /> A, nor any
<br /> restricting , regulating , prohibiting or relating to ( i ) the occupancy, use , right, title , interest, estate or easement
<br /> in abutting streets , roads ,
<br /> or enjoyment of the land ; ( ii ) the character, dimensions or location of avenues , alleys , lanes , ways or waterways ,
<br /> but nothing herein shall
<br /> any improvement now or hereafter erected on the land ; ( iii ) a modify or limit the extent to which a right of
<br /> access to and from the
<br /> separation in ownership or a change in the dimensions or area of the land is insured by this policy.
<br /> land or any parcel of which the land is or was a part , or ( iv) ( e ) " mortgage" : mortgage , deed of
<br />trust, trust deed , or other
<br /> environmental protection , or the effect of any violation of these laws , security instrument.
<br /> ordinances or governmental regulations , except to the extent that a If) " public records" : records established under state
<br /> statutes at
<br /> notice of the enforcement thereof or a notice of a defect, lien or Date of Policy for the purpose of imparting
<br />constructive notice of
<br /> encumbrance resulting from a violation or alleged violation affecting matters relating to real property to purchasers for
<br />value and without
<br /> the land has been recorded in the public records at Date of Policy. knowledge . With respect to Section 1 ( a )( iv )
<br /> of the Exclusions from
<br /> ( b ) Any governmental police power not excluded by ( a ) above , Coverage , " public records" ' shall also include environmental
<br /> protection
<br /> except to the extent that a notice of the exercise thereof or a notice liens filed in the records of the clerk of the
<br /> United States District
<br /> of a defect, lien or encumbrance resulting from a violation or alleged Court for the district in which the land is located
<br />.
<br /> violation affecting the land has been recorded in the public records at (g ) Itunmarketability of the title" : an
<br /> alleged or apparent matter
<br /> Date of Policy. affecting the title to the land , not excluded or excepted from
<br /> 2 . Rights of eminent domain unless notice of the exercise thereof coverage , which would entitle a purchaser of the
<br /> estate or interest
<br /> has been recorded in the public records at Date of Policy, but not described in Schedule A to be released from
<br /> the obligation to
<br /> excluding from coverage any taking which has occurred prior to Date purchase by virtue of a contractual condition requiring
<br /> the delivery of
<br /> of Policy which would be binding on the rights of a purchaser for marketable title .
<br /> value without knowledge . 2. Continuation of Insurance After Conveyance of Title.
<br /> 3 . Defects , liens , encumbrances , adverse claims or other matters : The coverage of this policy shall continue in
<br /> force as of Date of
<br /> ( a ) created , suffered , assumed or agreed to by the insured Policy in favor of an insured only so long as the
<br /> insured retains an
<br /> claimant , estate or interest in the land , or holds an indebtedness secured by a
<br /> ( b ) not known to the Company, not recorded in the public purchase money mortgage given by a purchaser from
<br /> the insured , or
<br /> records at Date of Policy, but known to the insured claimant and not only so long as the insured shall have
<br /> liability by reason of covenants
<br /> disclosed in writing to the Company by the insured claimant prior to of warranty made by the insured in any transfer
<br /> or conveyance of the
<br /> the date the insured claimant became an insured under this policy ; estate or interest . This policy shall not continue
<br /> in force in favor of
<br /> ( c ) resulting in no loss or damage to the insured claimant ; any purchaser from the insured of either ( i )
<br /> an estate or interest in
<br /> ( d ) attaching or creating subsequent to Date of Policy ; or the land , or ( ii ) an indebtedness secured by
<br />a purchase money
<br /> ( e ) resulting in loss or damage which would not have been mortgage given to the insured .
<br /> sustained if the insured claimant had paid value for the estate or 3. Notice of Claim to be Given by Insured Claimant
<br /> interest insured by this policy. The insured shall notify the Company promptly in writing ( i ) in
<br /> 4. Any claim , which arises out of the transaction vesting in the case of any litigation as set forth in Section 4( a
<br />) below, ( ii ) in case
<br /> insured the estate or interest insured by this policy, by reason of the knowledge shall come to an insured hereunder of any
<br /> claim of title or
<br /> operation of federal bankruptcy, state insolvency, or similar creditors ' interest which is adverse to the title to the estate
<br /> or interest, as
<br /> rights laws , that is based on : insured , and which might cause loss or damage for which the
<br /> ( a ) the transaction creating the estate or interest insured by this Company may be liable by virtue of this policy,
<br /> or ( iii ) if title to the
<br /> policy being deemed a fraudulent conveyance or fraudulent transfer, or estate or interest, as insured , is rejected as unmarketable
<br />. If prompt
<br /> ( b) the transaction creating the estate or interest insured by this notice shall not be given to the Company, then
<br /> as to the insured all
<br /> policy being deemed a preferential transfer except where the liability of the Company shall terminate with regard to the
<br /> matter or
<br /> preferential transfer results from the failure : matters for which prompt notice is required , provided , however, that
<br /> ( i ) to timely record the instrument of transfer, or failure to notify the Company shall in no case prejudice
<br /> the rights of
<br /> ( ii ) of such recordation to impart notice to a purchaser for any insured under this policy unless the Company shall be
<br /> prejudiced
<br /> value or a judgment of lien creditor. by the failure and then only to the extent of the prejudice .
<br /> CONDITIONS AND STIPULATIONS 4. Defense and Prosecution of Actions, Duty of Insured Claimant to
<br /> 1 . Definition of Terms. Cooperate.
<br /> The following terms when used in this policy mean : ( a ) Upon written request by the insured and subject
<br /> to the
<br /> ( a ) " insured " : the insured named in Schedule A , and , subject to options contained in Section 6 of these Conditions
<br />and Stipulations ,
<br /> any rights or defenses the Company would have had against the the Company, at its own cost and without unreasonable
<br /> delay, shall
<br /> named insured , those who succeed to the interest of the named provide for the defense of an insured in litigation
<br /> in which any third
<br /> insured by operation of law as distinguished from purchase including , party asserts a claim adverse to the title or
<br /> interest as insured , but
<br /> but not limited to , heirs , distributees , devisees , survivors , personal only as to those stated causes of action
<br />alleging a defect, lien or
<br /> representatives , next of kin , or corporate or fiduciary successors . encumbrance or other matter insured against by this
<br /> policy. The
<br /> ( b ) " insured claimant an insured claiming loss or damage . Company shall have the right to select counsel of
<br /> its choice ( subject
<br /> ( c ) " knowledge" or " known actual knowledge , not to the right of the insured to object for reasonable cause
<br />) to
<br /> constructive knowledge or notice which may be imputed to an insured represent the insured as to those stated causes
<br /> of action and shall
<br />
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