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CONDITIONS
<br />L DEFINITION OF TERMS
<br />The following terms when used in this policy mean:
<br />(a) "Amount of Insurance": The amount stated in Schedule A, as may he increased or decreased by endorsement to this policy, increased
<br />by Section 8(b), or decreased by Sections 10 and 11 of these Conditions.
<br />(h) "Date of Policy": The date designated as "Date of Policy" in Schedule A.
<br />(c) "Entity": A corporation, partnership, trust, limited liability company, or other similar legal entity.
<br />(d) "Insured": The insured named in Schedule A.
<br />(i) the term "Insured" also includes
<br />successors to the Title of the Insured by operation of law as distinguished from purchase, including heirs, devisees, survivors,
<br />personal representatives, or next of kin;
<br />(B) successors to an insured by dissolution, merger, consolidation, distribution, or reorganization;
<br />(C) successors to an Insured by its conversion to another kind of Entity;
<br />(D) a grantee of an Insured under a decd delivered without payment of actual valuable consideration conveying the Title
<br />if the stock, shares, memberships, or other equity interests of the grantee arc wholly-owned by the named Insured,
<br />if the grantee wholly owns the named Insured,
<br />if the grantee is wholly-owned by an affiliated Entity of the named Insured, provided the affiliated Entity and the named
<br />Insured are both wholly-owned by the same person or Entity, or
<br />(4) if the grantee is a trustee or beneficiary of a trust created by a written instrument established by the Insured named in
<br />Schedule A for estate planning purpose;.
<br />(ii) with regard to (A), (B), (C), and (D) reserving, however, all rights and defenses as to any successor that the Company
<br />would have had against any predecessor Insured.
<br />(e) "Insured Claimant": An Insured claiming loss or damage.
<br />(f) "Knowledge" or 'Known": Actual knowledge, not constructive knowledge or notice that may be imputed to an Insured by reason of
<br />the Public Records or any other records that impart constructive notice of matters affecting the Title.
<br />"Land": The land described in Schedule A, and affixed improvements that by law constitute real property. The term `Land" does
<br />not include any property beyond the lines of the arca described in Schedule A, nor any right, title, interest, estate, or easement in
<br />abutting streets, roads, avenues, alleys, lanes, ways, or waterways, but this docs not modify or limit the extent that a right of access to
<br />and from the Land is insured by this policy.
<br />(h) "Mortgage": Mortgage, deed of trust, trust decd, or other security instrument, including one evidenced by electronic means
<br />authorized by law.
<br />"Public Records": Records established under state statutes at Date of Policy for the purpose of imparting constructive notice of
<br />matters relating to real property to purchasers for value and without Knowledge. With respect to Covered Risk 5(d), "Public
<br />Records" shall also include environmental protection liens filed in the records of the clerk of the United States District Court for the
<br />district where the Land is located.
<br />"Title": The estate or interest described in Schedule A.
<br />"Unmarketable Title": Title affected by an alleged or apparent matter that would permit a prospective purchaser or lessee of the Tide
<br />or lender on the Title to be released from the obligation to purchase, lease, or lend if there is a contractual condition requiring the
<br />delivery of marketable tide.
<br />(A)
<br />(1)
<br />(2)
<br />(3)
<br />(g)
<br />(i)
<br />j)
<br />(k)
<br />2. CONTINUATION OF INSURANCE
<br />The coverage of this policy shall continue in force as of Date of Policy in favor of an Insured, hut only so long as the Insured retains an estate
<br />or interest in the Land, or holds an obligation secured by a purchase money Mortgage given by a purchaser front the Insured, or only so
<br />long as the insured shall have liability by reason of warranties in any transfer or conveyance of the Title. This policy shall not continue in
<br />force in favor of any purchaser from the Insured of either (i) an estate or interest in the Land, or (ii) an obligation secured by a purchase
<br />money Mortgage given to the Insured.
<br />3. NOTICE OF CLAIM TO BE GIVEN BY INSURED CLAIMANT
<br />The Insured shall notify the Company promptly in writing (1) in case of any litigation as set forth in Section 5(a) of these Conditions, (11) in
<br />case Knowledge shall come to an Insured hereunder of any claim of title or Interest that is adverse to the Title, as insured, and that might
<br />cause loss or damage for which the Company may be liable by virtue of this policy, or (iii) if the Tide, as insured, is rejected as Unmarketable
<br />Title. lithe Company is prejudiced by the failure of the Insured Claimant to provide prompt notice, the Company's liability to the insured
<br />Claimant under the policy shall he reduced to the extent of the prejudice.
<br />4. PROOF OF LOSS
<br />In the event the Company is unable to determine the amount of loss or damage, the Company may, at its option, require as a condition of
<br />payment that the Insured Claimant furnish a signed proof of loss. The proof of loss mist describe the defect, lien, encumbrance, or other
<br />matter insured against by this policy that constitutes the basis of loss or damage and shall state, to the extent possible, the basis of calculating
<br />the amount of the loss or damage.
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<br />FORM OF6 (rev. 12110)(Wtih Florida Modifications)
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