EXCLUSIONS FROM COVERAGE by reason of the public records as defined in this policy or any other
<br /> records which impart constructive notice of matters affecting the land .
<br /> The following matters are expressly excluded from the coverage ( d ) " land " : the land described or referred to in Schedule A ,
<br /> and
<br /> of this policy and the Company will not pay loss or damage , costs , improvements affixed thereto which by law constitute real
<br />property.
<br /> attorneys ' fees or expenses which arise by reason of: The term " land " does riot include any property beyond the lines of
<br /> 1 . (a ) Any law , ordinance or governmental regulation including , but the area described or referred to in Schedule A , nor
<br /> any
<br /> not limited to , building and zoning laws , ordinances , or regulations ) right , title , interest, estate or easement in abutting streets
<br />, roads ,
<br /> restricting , regulating , prohibiting or relating to ( i ) the occupancy , avenues , alleys , lanes , ways or waterways , but nothing herein
<br /> shall
<br /> use , or enjoyment of the land , ( ii ) the character, dimensions or modify or limit the extent to which a right of access to and
<br /> from the
<br /> location of any improvement now or hereafter erected on the land ; land is insured by this policy.
<br /> ( iii ) a separation in ownership or a change in the dimensions or area ( e ) " mortgage " : mortgage , deed of trust, trust deed ,
<br /> or other
<br /> of the and or any parcel of which the land is or was a part; or ( iv) security instrument .
<br /> environmental protection , or the effect of any violation of these laws , (f) " public records records established under state statutes
<br /> at
<br /> ordinances or governmental regulations , except to the extent that a Date of Policy for the purpose of imparting constructive notice of
<br /> notice of the enforcement thereof or a notice of a defect, lien or matters relating to real property to purchasers for value and
<br /> without
<br /> encumbrance resulting from a violation or alleged violation affecting knowledge . With respect to Section I ( a )( iv ) of the Exclusions
<br /> from
<br /> the land has been recorded in the public records at Date of Policy. Coverage , " public records " shall also include environmental
<br /> protection
<br /> ( b ) Any governmental police power not excluded by ( a ) above , iens filed in the records of the clerk of the United States
<br /> District
<br /> except to the extent that a notice of the exercise thereof or a notice Court for the district in which the land is located .
<br /> of a defect, lien or encumbrance resulting from a violation or alleged (g ) " unmarkerability of the title "' : an alleged or apparent
<br /> matter
<br /> violation affecting the land has been recorded in the public records affecting the title to the land , not excluded or excepted
<br /> from
<br /> at Date of Policy. coverage , which would entitle a purchaser of the estate or interest
<br /> 2 . Rights of eminent domain unless notice of the exercise thereof described in Schedule A to be released from the obligation
<br /> to
<br /> has been recorded in the public records at Date of Policy, but not purchase by virtue of a contractual condition requiring the
<br /> delivery of
<br /> excluding from coverage any taking which has occurred prior to Date marketable title .
<br /> of Policy which would be binding on the rights of a purchaser for
<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 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 retains
<br /> an
<br /> claimant, estate or interest in the and , 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 the insured
<br />, or
<br /> records at Date of Policy , but known to the insured claimant and riot 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 ( i ) an estate or
<br />interest 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 of Claim to be Given by Insured 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 )
<br /> below, ( 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
<br />the
<br /> policy being deemed a fraudulent conveyance or fraudulent transfer, or Company may be liable by virtue of this policy , or ( iii ) if
<br />title to the
<br /> ( i) l the uansaction 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 /> matters for which prompt notice is required , provided , however, that
<br /> ( i ) to timely record the instrument of transfer; failure to notify the Company shall in no case prejudice the rights of
<br /> ( ii ) of such recordation to impart notice to a purrcc haser for any insured under this policy unless the Company shall be prejudiced
<br /> value or a judgment or lien creditor.
<br /> CONDITIONS AND STIPULATIONS by the failure and then only to the extent of the prejudice .
<br /> 7 . 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 to
<br /> 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, lien
<br /> 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
<br />) to
<br /> represent the insured as to those stated causes of action and shall
<br />
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