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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 the
<br /> land .
<br /> of this policy and the Company will not pay loss or damage , costs , ( d ) land " the land described or referred to in
<br /> Schedule A , and
<br /> attorneys ' fees or expenses which arise by reason of: improvements affixed thereto which by law constitute real property .
<br /> 1 . (a ) Any law, ordinance or governmental regulation ( including , but The term " land " does not include any property beyond the
<br /> lines of
<br /> not limited to , building and zoning laws , ordinances , or regulations ) the area described or referred to in Schedule A , nor any
<br /> restricting , regulating , prohibiting or relating to ( i ) the occupancy, right, title , interest, estate or easement in abutting
<br /> streets , roads ,
<br /> use , or enjoyment of the land ; ( ii ) the character, dimensions or avenues , alleys, lanes, ways or waterways , but nothing herein
<br /> shall
<br /> location of any improvement now or hereafter erected on theland ; modify or limit the extent to which a right of access to and
<br /> from the
<br /> ( iii ) a separation in ownership or a change in the dimensions or area land is insured by this policy .
<br /> of the land or any parcel of which the land is or was a partt or ( iv ) ( e ) It mortgage , deed of trust, trust
<br />deed , or other
<br /> environmental protection , or the effect of any violation of these laws , security insit trument.
<br /> ordinances or governmental regulations , except to the extent that (f) public records " : records established under state statutes
<br /> at
<br /> notice of the enforcement thereof or a notice of a defect, lien or Date of Policy (or the purpose of imparting constructive notice
<br /> of
<br /> encumbrance resulting from a violation or alleged violation affecting 'natters relating to real property to purchasers for value and
<br /> without
<br /> the land has been recorded in the public records at Date of Policy. knowledge . With respect to Section 1 ( a )( iv) of the
<br /> Exclusions from
<br /> ( h ) Any governmental police power not excluded by ( a ) above , Coverage , " public records " shall also include environmental 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 United States
<br /> District
<br /> of a defect, lien or encumbrance resulting from a violation or alleged Court for th11 e district in which the land is located .
<br /> violation affecting the land has been recorded in the public records ( g ) unrnarketability of the title " : an alleged or apparent
<br /> matter
<br /> at Date of Policy . affecting the title to the land , not excluded or excepted from
<br /> coverage , which would entitle a purchaser of the estate or interest
<br /> Rights of eminent domain unless notice of the exercise thereof
<br /> has been recorded in the public, records at Date of Policy, but not described in Schedule A to be released from the obligation
<br /> to
<br /> Purchase by virtue of a contractual condition requiring the delivery of
<br /> excluding from coverage any taking which has occurred prior to Date
<br /> Of Policy which would be binding on the rights of a purchaser for marketable title .
<br /> value without knowledge . 2. Continuation of Insurance AfterConveyanee of Title.
<br /> 3 . Defects , liens , encumbrances , adverse claims , or other matters : The coverage of this policy shall continue in force as of
<br /> Date of
<br /> ( a ) created , suffered , assumed or agreed to by the insured Policy in favor of an insured only so long as the insured
<br />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 puhlic purchase money mortgage given by a purchaser from the insured ,
<br /> or
<br /> records at Date of Policy, but known to the insured claimant and not only so long as the insured shall have liability by
<br /> 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 or conveyance
<br /> of the
<br /> the date the insured claimant became an insured under this policy; estate or interest. This policy shall not continue in force
<br /> in favor of
<br /> ( c ) resulting in no loss or damage to the insured claimant; any purchaser from the insured of either ( f ) an estate or interest
<br /> in
<br /> ( d ) attaching or created subsequent to Date of Policy; or the land , or ( ii ) an indebtedness secured by 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
<br /> interest insured by this policy . 3. Notice ofClaim to be Given by lnsured Claimant.
<br /> 4 . Any claim , which arises out of the transaction vesting in the The insured shall notify the Company promptly in writing
<br />( i ) in
<br /> insured the estate or interest insured by this policy, by reason of the case of any litigation as set forth in Section 4 ( a ) below,
<br /> ( ii ) in case
<br /> operation of federal bankruptcy, state insolvency, or similar creditors ' knowledge shall come to an insured hereunder of any claim of
<br /> title or
<br /> rights laws , that is based on : interest which is adverse to the title to the estate or interest , as
<br /> (a ) the transaction creating the estate or interest insured by this insured , and which might cause loss or damage for which the
<br /> Policy being deemed a fraudulent conveyance or fraudulent transfer; or Company may be liable by virtue of this policy, or ( iii ) if title
<br /> to the
<br /> ( h ) the transaction creating the estate or interest insured by this estate or interest, as insured , is rejected as unmarketable
<br />. If prompt
<br /> policy being deemed a preferential transfer except where the notice shall not be given to the Company, then as to the insured
<br /> all
<br /> preferential transfer results from the failure : liability of the Company shall terminate with regard to the matter or
<br /> ( i ) to timely record the insu ument of transfer; or matters for which prompt notice is required , provided , however, that
<br /> ( ii ) of such recordation to impart notice to a purchaser for failure to notify the Company shall in no case prejudice the rights
<br /> of
<br /> value or a judgment or lien creditor. any insured under this policy unless the Company shall be prejudiced
<br /> CONDITIONS AND STIPULATIONS by the failure and then only to the extent of the prejudice .
<br /> Definition of Terms. 4. Defense and Prosecution of Actions; Duty of Insured Claimant to
<br /> The following terms when used in this policy mean : Cooperate.
<br /> ( a ) " insured " : the insured named in Schedule A , and , subject to ( a ) Upon written request by the insured and subject
<br /> to the
<br /> any rights or defenses the Company would have had against the options contained in Section 6 of these Conditions and Stipulations ,
<br /> named insured , those who succeed to the interest of the named the Company , at its own cost and without unreasonable delay, shall
<br /> insured by operation of law as distinguished from purchase including , provide for the defense of an insured in litigation in which
<br /> any third
<br /> but not limited to , heirs , distributees , devisees , survivors , personal party asserts a claim adverse to the title or interest as
<br /> insured , but
<br /> representatives , next of kin , or corporate or fiduciary successors , only as to those stated causes of action alleging a defect,
<br /> lien or
<br /> ( b ) " insured claimant " : an insured claiming loss or damage . encumbrance or other matter insured against by this policy. The
<br /> ( c ) " knowledge " or " known " : actual knowledge , not Company shall have the right to select counsel of its choice ( subject
<br /> constructive knowledge or notice which may be imputed to an insured to the right of the insured to object for reasonable cause ) to
<br /> represent the insured as to those stated causes of action and shall
<br />
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