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2011-172
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2011-172
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Last modified
2/15/2016 9:22:36 AM
Creation date
10/1/2015 4:56:04 AM
Metadata
Fields
Template:
Official Documents
Official Document Type
Agreement
Approved Date
08/16/2011
Control Number
2011-172
Agenda Item Number
8.NN.
Entity Name
Northern Trust NA
Subject
Agreement to Purchase Real Estate Intersection improvements High A1A
Right of Way Improvements
Area
SR A1 and 17th Street intersection
Alternate Name
Northern Trust Bank of Florida N>A>
Supplemental fields
SmeadsoftID
11667
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i <br /> copy all of these records in the custody or control of a third party that reasonably pertain to the loss or damage <br />. <br /> All information designated as confidential by the Insured Claimant provided to the Company pursuant . to <br /> this <br /> Section shall not be disclosed to others unless , in the reasonable judgment of the Company , it is necessary in the <br /> administration of the claim . Failure of the Insured Claimant to submit for examination under oath , produce any <br /> reasonably requested information , or grant permission to secure reasonably necessary information from third <br /> parties as required in this subsection , unless prohibited by law or governmental regulation , shall terminate any <br /> liability of the Company under this policy as to that claim . <br /> 7. OPTIONS TO PAY OR OTHERWISE SETTLE CLAIMS , TERMINATION OF LIABILITY <br /> In case of a claim under this policy, the Company shall have the following additional options : <br /> ( a ) To Pay or Tender Payment of the Amount of Insurance . To pay or tender payment of the Amount of Insurance <br /> under this policy together with any costs , attorneys' fees , and expenses incurred by the Insured Claimant that <br /> were authorized by the Company up to the time of payment or tender of payment and that the <br /> Company is <br /> obligated to pay. <br /> Upon the exercise by the Company of this option , all liability and obligations of the Company to the Insured under <br /> this policy, other than to make the payment required in this subsection , shall terminate, including any <br /> liability or <br /> obligation to defend , prosecute , or continue any litigation. <br /> ( b) To Pay or Otherwise Settle With Parties Other Than the Insured or With the Insured Claimant . <br /> ( i) to pay or otherwise settle with other parties for or in the name of an Insured Claimant <br /> any claim insured <br /> against under this policy . In addition , the Company will pay any costs , attorneys ' fees , and expenses incurred <br /> by <br /> the Insured Claimant that were authorized by the Company up to the time of payment and that the Company is <br /> obligated to pay ; or <br /> ( ii) to pay or otherwise settle with the Insured Claimant the loss or damage provided for <br /> under this policy , <br /> together with any costs , attorneys' fees , and expenses incurred by the Insured Claimant that were authorized by <br /> the Company up to the time of payment and that the Company is obligated to pay . <br /> Upon the exercise by the Company of either of the options provided for in subsections <br /> (b) ( i ) or ( ii) , the <br /> Company's obligations to the Insured under this policy for the claimed loss or damage , other than the payments <br /> required to be made , shall terminate , including any liability or obligation to defend , prosecute , or continue <br /> any <br /> litigation . <br /> 8. DETERMINATION AND EXTENT OF LIABILITY <br /> This policy is a contract of indemnity against actual monetary loss or damage sustained or incurred by the Insured Claimant <br /> who has suffered loss or damage by reason of matters insured against by this policy . <br /> j <br /> (a) The extent of liability of the Company for loss or damage under this . policy shall not exceed the lesser of <br /> ( i ) the Amount of Insurance ; or <br /> ( ii ) the difference between the value of the Title as insured and the value of the Title subject <br /> to the risk insured against by this policy . <br /> (b) If the Company pursues its rights under Section 5 of these Conditions and is unsuccessful in establishing the Title <br />, <br /> as insured , <br /> ( 'i) the Amount of Insurance shall be increased by 10% , and <br /> ( ii) the Insured Claimant shall have the right to have the loss or damage determined either <br /> as of the date the claim was made by the Insured Claimant or as of the date it is settled and paid . . <br /> (c) In addition to . the extent of liability under (a) and (b) , the Company will also pay those costs , attorneys' <br /> fees , and <br /> expenses incurred in accordance with Sections 5 and 7 of these Conditions . <br /> 9. LIMITATION OF LIABILITY <br /> ALTA Owner's Policy (6/17/06) <br /> 8130609 6 of 8 (with Florida Modifications) <br /> Copyright American Land Title Association. All rights reserved. The use of this Form is restricted to ALTA licensees and ALTA , <br /> members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title moo, <br /> Association <br />
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