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EXCLUSIONS FROM COVERAGE by reason of the public records as defined in this policy or any other records which impart constructive notice of matters affecting the land . The following matters are expressly excluded from the coverage ( d ) " land " : the land described or referred to in Schedule A, and of this policy and the Company will not pay loss or damage , costs , improvements affixed thereto which by law constitute real property . attorneys ' fees or expenses which arise by reason of: The term " land " does not include any property beyond the lines of 1 . ( a ) Any law, ordinance or governmental regulation ( including , but the area described or referred to in Schedule A , nor any not limited to , building and zoning laws , ordinances , or regulations ) right, title , interest, estate or easement in abutting streets , roads , restricting , regulating , prohibiting or relating to ( i ) the occupancy, avenues , alleys , lanes , ways or waterways , but nothing herein shall use , or enjoyment of the land ; ( ii ) the character, dimensions or modify or limit the extent to which a right of access to and from the location of any improvement now or hereafter erected on the land ; land is insured by this policy . ( iii ) a separation in ownership or a change in the dimensions or area ( e ) " mortgage " : mortgage , deed of trust , trust deed , or other of the land or any parcel of which the land is or was a part; or ( iv ) security instrument . environmental protection , or the effect of any violation of these laws , ( f ) " public records " : records established under state statutes at ordinances or governmental regulations , except to the extent that a Date of Policy for the purpose of imparting constructive notice of notice of the enforcement thereof or a notice of a defect, lien or matters relating to real property to purchasers for value and without encumbrance resulting from a violation or alleged violation affecting knowledge . With respect to Section 1 ( a )( iv ) of the Exclusions from the land has been recorded in the public records at Date of Policy. Coverage , " public records " shall also include environmental protection ( b ) Any governmental police power not excluded by ( a ) above , liens filed in the records of the clerk of the United States District except to the extent that a notice of the exercise thereof or a notice Court for the district in which the land is located . of a defect, lien or encumbrance resulting from a violation or alleged ( g ) " unmarketability of the title an alleged or apparent matter violation affecting the land has been recorded in the public records affecting the title to the land , not excluded or excepted from at Date of Policy. coverage , which would entitle a purchaser of the estate or interest 2 . Rights of eminent domain unless notice of the exercise thereof described in Schedule A to be released from the obligation to has been recorded in the public records at Date of Policy , but not purchase by virtue of a contractual condition requiring the delivery of excluding from coverage any taking which has occurred prior to Date marketable title . of Policy which would be binding on the rights of a purchaser for value without knowledge . 2. Continuation of Insurance After Conveyance of Title. 3 . Defects , liens , encumbrances , adverse claims , or other matters : The coverage of this policy shall continue in force as of Date of ( a ) created , suffered , assumed or agreed to by the insured Policy in favor of an insured only so long as the insured retains an claimant; estate or interest in the land , or holds an indebtedness secured by a ( b) not known to the Company, not recorded in the public purchase money mortgage given by a purchaser from the insured , or records at Date of Policy, but known to the insured claimant and not only so long as the insured shall have liability by reason of covenants disclosed in writing to the Company by the insured claimant prior to of warranty made by the insured in any transfer or conveyance of the the date the insured claimant became an insured under this policy; estate or interest. This policy shall not continue in force in favor of (c) resulting in no loss or damage to the insured claimant; any purchaser from the insured of either ( i � an estate or interest in ( d ) attaching or created subsequent to Date of Policy; or the land , or ( ii ) an indebtedness secured by a purchase money ( e ) resulting in loss or damage which would not have been mortgage given to the insured . sustained if the insured claimant had paid value for the estate or 3. Notice of Claim to be Given by Insured Claimant. interest insured by this policy. 4 . Any claim , which arises out of the transaction vesting in the The insured shall notify the Company promptly in writing ( i ) in case of any litigation as set forth in Section 41a ) below, ( ii ) in case insured the estate or interest insured by this policy , by reason of the knowledge shall come se an insured hereunder to any claim , title or operation of federal bankruptcy , state insolvency, or similar creditors 'rights interest which is adverse to the title to the estate or interest, as rhts laws , that is based on : rigthe transaction creating the estate or interest insured by this insured , and which might cause loss or damage for which the Company may be liable by virtue of policy being deemed a fraudulent conveyance or fraudulent transfer; or this policy, or ( iii ) if title to the ( b ) the transaction creating the estate or interest insured by this estate or interest, as insured , is rejected as unmarketable . If prompt policy being deemed a preferential transfer except where the notice shall not be given to the Company, then as to the insured all preferential transfer results from the failure : liability of the Company shall terminate with regard to the matter or matters for which prompt notice is required ; provided , however, that ( i ) to timely record the instrument of transfer; or failure to notify the Company shall in no case prejudice the rights of ( ii ) of such recordation to impart notice to a purchaser for any insured under this policy unless the Company shall be prejudiced value or a judgment or lien creditor. CONDITIONS AND STIPULATIONS by the failure and then only to the extent of the prejudice . 1 . Definition of Terms. 4. Defense and Prosecution of Actions, Duty of Insured Claimant to The following terms when used in this policy mean : Cooperate. ( a ) " insured " : the insured named in Schedule A , and , subject to ( a ) Upon written request by the insured and subject to the any rights or defenses the Company would have had against the options contained in Section 6 of these Conditions and Stipulations , named insured , those who succeed to the interest of the named the Company, at its own cost and without unreasonable delay , shall insured by operation of law as distinguished from purchase including , provide for the defense of an insured in litigation in which any third but not limited to , heirs , distributees , devisees , survivors , personal party asserts a claim adverse to the title or interest as insured , but representatives , next of kin , or corporate or fiduciary successors . only as to those stated causes of action alleging a defect, lien or ( b ) " insured claimant" : an insured claiming loss or damage . encumbrance or other matter insured against by this policy. The ( c ) " knowledge " or " known " : actual knowledge , not Company shall have the right to select counsel of its choice ( subject constructive knowledge or notice which may be imputed to an insured to the right of the insured to object for reasonable cause ) to represent the insured as to those stated causes of action and shall