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HomeMy WebLinkAbout2000-130 Title Ins PolicyJackson County Title Division of Oregon Title Insurance Co. 1400 Ashland Street Ashland, Oregon 97520 Te1=(541)488-2240/Faxz(541)488-1786 The City of Ashland 20 East Main Street Ashland OR 97520 Re: Escrow No. 92902 1375 E. Main Street Ashland OR 97520 In connection with the above escrow, we are pleased to enclose Policy of Title Insurance for your records. Again, we wish to thank you for the opportunity to assist you in the purchase of your property. Please consider us for any future property transactions you may have. Sincerely, Julie Austad, C.E.O. Escrow Officer Enclosure LAWYERS TITLE INSURANCE CORPORATION SCHEDULE A Date of Policy, July 11, Policy No. 13601-857-092 Order No. 92902 2000 at 2:10 P.M. Amount of Insurancez Premium: $30,000.00 $225.00 1. Name of Insured~ The City of Ashland, corporation a municipal The estate or interest referred to herein is at Date of Policy vested The City of Ashland, a municipal corporation 3. The estate or interest in the land described herein and which is covered by this policy is: A FEE SCHEDULE B This policy does not insure against loss or damage, nor against costs, attorneys' fees or expenses, any or all of which arise by reason of the matters shown or referred to in this Schedule except to the owner of any mortgage or deed of trust is expressly insured on page i of this policy. STANDARD EXCEPTIONS~ 1. Taxes or assessments which are not shown as existing liens by the records of any taxing authority that levies taxes or assessments on real property or by the public record; proceedings by a public agency which may result in taxes or assessments, or notices of such proceedings, whether or not shown by the records of such agency or by the public record. 2. Any facts, rights, interests, or claims which are not shown by the public records but which could be ascertained by an inspection of said land or by making inquiry of persons in possession thereof. 3. Easements, or claims of easement, not shown by the public records; reservations or exceptions in patents or in Acts authorizing the issuance thereof; water rights, claims or title to water. 4. Any lien, or right to a lien, for taxes, workman's compensation, services, labor, equipment rental or material heretofore or hereafter furnished, imposed by law and not shown by the public records. 5. Discrepancies, conflicts in boundary lines, shortage in area, encroachments or any other facts which a correct survey would disclose. SPECIAL EXCEPTIONS= 6. Taxes for the fiscal year 2000-2001 are a lien in an amount yet to be determined, but not yet payable. 7. The effect of said property, or any part thereof, lying within the Talent Irrigation District, and subject to all water and irrigation rights, easements for ditches and canals, and all regulations of said District, including any and all assessments, liens and charges assessed, and to be assessed. 8. Easement granted to forth in Volume 144, page oregon. Pacific Telephone and Telegraph Co., as set 160 of the Deed Records of Jackson County, policy No. 13601-857-092 SCHEDULE B CONTINUED 9. Right(s) of way for the transmission and distribution of electricity, and for other purposes, 9ranted to PacifiCorp, an Oregon corporation, or its predecessor in interest, by instrument(s) recorded July 8, 1952 in Volume 368, page 120, of the Deed Records of Jackson County, Oregon. 10. Perpetual non-exclusive easement for storm drain, and rights in connection therewith, 9ranted to the City of Ashland, Oregon by instrument recorded August 20, 1996 as No. 96-27885 of the Official Records of Jackson County, Oregon. 11. Trust Deed, executed by The City of Ashland, a municipal corporation, to Oregon Title Insurance Company, an Oregon corporation, Trustee, and John Gonzales and Jerry Gonzales, beneficiary, dated June 27, 2000 and recorded July 11, 2000 as No. 00-28807 and re-recorded August 2, 2000 as No. 00-31822 of the Official Records of Jackson County, Oregon, to secure the payment of the sum of $25,000.00. SCHEDULE C The land referred to in this Policy is described as follows~ A tract of land situated in the Southeast Quarter of the Northwest Quarter of Section 10, Township 39 South, Range 1 East of the Willamette Meridian in Jackson County, Oregon and being more particularly described as follows: Commencing a the intersection of the east line of Donation Land Claim No. 43 with the north line of East Main Street in the City of Ashland; thence South 78°54' West along the north line of East Main Street a distance of 71.38 feet; thence North parallel to the east line of Donation Land Claim No. 43, a distance of 179.88 feet; thence East 70.00 feet to the east line of said Donation Land Claim No. 43; thence South along said line 165.90 feet to the point of beginning. (Code 5-01, Portion Account #1-11388-3, Map #391E10B, Portion Tax Lot #1000) Policy No. 13601-857-092 · ;,,.,~ :~ ,,~a,k ts ;ade soldy to, Ihe purpose of assistlog in ' ~ ~ ~. .,cath~(~ ~ pfembes and the company assumes no :~ JACKSON COUNIY TITLE D;~ :SION OF ORE60N TITLE INS. CO. 1~ ~5 E. Me, Andrews Ph. 779-2811 260O .i 600 700 I I ~'sW coR |.~ OLe. N.W. Coe. 6LC ~5 p-eT-94 P~,RT PLAT EFU Bc, 1992 ALTA Owner's Policy [a,,u yers tle ln; ar/ce( rporatio. NATIONAL HEAl)QUARTERS RICHMOND, VIRGINIA Owner's Policy Number 136-01- 857-09: SUBJECY TO THE EXCLUSIONS FROM COVERAGE, THE EXCEPHONS FROM COVERAGE CONTAINED IN SCHEDULE B AND THE CONDITIONS AND STIPULATIONS, LAWYERS TITLE INSURANCE CORPORATION, a Virginia corporation, herein called the Company, insures, as of Date of Policy shown in Schedule A, against loss or damage, not exceeding the Amount of Insurance stated in Schedule A, sustained or incurred by the insured by reason of: 1. Title to the estate or interest described in Schedule A being ~ 3. Unmarketability of the title; other than as stated therein; 4~ :Ladle of a right of access to and from the land. 2. Any defect in or lien or encumbrance on the title; The Company will also pay the costs, attorneys' fees and expenses incurred in defense of the title, as insured, but only to the extent provided in the Conditions and Stipulations. EXCLUSIONS FROM COVERAGE The following matters are expressly excluded from the coverage of this policy and the Company will not pay loss or damage, costs, attorneys' fees or expenses which arise by reason of: 1. (a) Any law, ordinance or governmental regulation (including but not limited to building and zoning laws, ordinances or regulations) restricting, regulating, prohibiting or relating to (i) the occupan- cy, use or enjoyment of the land; (ii) the character, dimensions or location of any improvement now or bereaRer erected on the land; (iii) a separation in ownership or a change in the dimen- sions or area of the land or any parcel of which the land is or was a part; or (iv) environmental protection, or the effect of any violation of these laws, ordinances or governmental regulations, except to the extent that a notice of the enforcement thereof or a notice of a defect, lien or encumbrance resulting from a viola- tion or alleged violation affecting the land has been recorded in the public records at Date of Policy. (b) Any governmental police power not excluded by (a) above, ex- cept to the extent that a notice of the exercise thereof or a notice of a defect, lien or encumbrance resulting from a violation or alleg- ed violation affecting the land has been recorded in the public records at Date of Policy. 2. Rightsofeminentdoraalnunlessnotieeoftheexereisethereofhasbeen recorded in the public records at Date of Policy, but not excluding from coverage any taking which has occurred prior to Date of Policy which would be binding on the rights of a purchaser for value without knowledge. 3. Defects; liens, encumbrances, adverse claims or other matters: (a) created, suffered, assumed or agreed to by the insured claimant; (b) not known to the Company, not recorded in the public records at Date of Policy, but known to the insured claimant and not disclos- ed in writing to the Company by the insured claimant prior to the date the insured claimant became an insured under this po] icy; (c) resulting in no loss or damage to the insured claimant; (d) attaching or created subsequent to Date of Policy; or (e) resulting in loss or damage which would not have been sustained if the insured claimant had paid value for the estate or interest insured by this policy. 4. Any claim, which arises out of the transaction vesting in the insured the estate or intersst insured by this policy, by reason of the operation of federal bankruptcy, state insolvency or similar creditors' rights laws that is based on: (a) the transaction creating the estate or interest insured by this policy being deemed a fraudulent conveyance or fraudulent transfer; or (b) the transaction creating the estate or interest insured by this peliey being deemad a preferential transfer except where the prsferen- tial transfer results from the failure: (i) to timely record the instrument of transfer; or (ii) of such recordation to impart notice to a purchaser for value or a judgment or lien creditor. Policy 136 · Litho in U.S.A. 061~)-136-0006 Cover Sheet ALTA Owner's POlicy (10-17-92) CONDITIONS AND 1. DEFINITION OFTERMS, The following terms when used ~n this policy mean: (a) "insured": the insured named in Schedule A, and, subject to any rights or defenses the Company wou Id have had against the named insu red, those who succeed to the interest of the named insured by operatiojn of law as distinguished from purchase including, but not limited to, heirs, disttibutees, devisees, survivors, personal representatives, next of kin. or corporate or fiduciary successors (b) "~nsured claimant": an insured claiming loss or damage. (c) "knowledge" or "known": actual knowledge, not constructive knowledge or notice which may be imputed to an insured by reason of the public records as defined in this policy or any other records which impart constructive notice of matters affecting the land (d) "land": the land described or referred to in Schedule A, and im- provements affixed thereto which by law constitute real property The term . land" does not include any property beyond the lines of the area described or referred to in Schedule A, nor any right, title, interest, estate or easement ~n abutting streets, roads, avenues, alleys, lanes. ways or waterways, but nothing herein shall modify or limit the extent to which a right of access to and from the land is insured by this policy (e) "mortgage": modgage, deedoftrust,trustdeed,orothersecurity instrument (f) "public records' ': records established under state statutes at Date of Policy for the purpose of imparting constructive notice of matters relating to real property to purchasers for value and without knowledge. With respect to Section l(a)(iv) of the Exclusions From Coverage, "public records" shall also include environmental protection liens filed in the records of the clerk of the United States district court for the district in which the land is located. (g) "unmarketabihty of the title": an alleged or apparent matter affec- h ng the title to the land, not excluded or excepted from coverage, which would enhtle a purchaser of the estate or interest described in Schedule A to be released from the obligation to purchase by virtue of a contractual condition requ~nng the delivery of marketable title. 2. CONTINUATIONOFINSURANCEAFTERCONVEYANCEOFTITLE. The coverage of this policy shall continue in force as of Date of Policy ~n favor of an ~nsured only so long as the insured retains an eslate or interest in the land, or holds an ~ndebtedness secured by a purchase money mor- tgage given by a purchaser from the insured, or only so long as the insured shalt have hability by reason of covenants of warranty made by the insured ~n any transfer or conveyance of the estate or interest. This policy shall not continue in lorce tn favor of any purchaser from the insured of either (i) an estate or ~nterest ~n the land, or (ii) an indebtedness secured by a purchase money mortgage given to the insured 3. NOTICE OF CLAIM TO BE GIVEN BY INSURED CLAIMANT, The insured shall notify the Company promptly in writing (i) in case of any hhgation as set forth in Section 4(a) below, (ii) in case knowledge shall come to an insured hereunder of any claim of title or interest which is adverse to the htle to the estate or interest, as insured, and which might cause loss or damage for which the Company may be liable by virtue of this policy. or (,i) if htle to the estate or interest, as insured, is rejected as unmarketable If prompt notice shall not be given to the Company, then as to the insured all habihty of the Company shall terminate with regard to the matter or matters for which prompt notice is required; provided, however, that failure to notify the Company shall ~n no case prejudice the rights of any insured under this pohcy unless the Company shall be prejudiced by the failure and then only to the extent of t~e prejudice 4. DEFENSEANDPROSECUTIONOFACTIONS;DUTYOFINSURED CLAIMANT TO COOPERATE. (a) Upon wntten request by the ~nsured and subject to the options con- tanned ~n Section 6 of these Cond~hons and Stipulations, the Company, at ~ts own cost and w~thout unreasonable delay, shall provide for the defense of an ~nsured in litigation ~n which any third party asserts a claim adverse to the tlIle or interest as ~nsured, but only as to those stated causes of action alleging a defect. hen or encdmbrance or other matter insured against by th~s pohcy The Company shall have the right to select counsel of its choice (sublect to the right of the ~nsured to obtect for reasonable cause) to repre- sent the ~nsured as to those stated causes of action and shall not be liabJe for and wdl not pay the fees of any other counsel The Company will not pay any tees costs or expenses ~ncurred by the insured in the defense of those causes of achon which allege matters not ~nsured against by this policy (b) The Company shall have the nghl, at its own cost, to institute and prosecute any acj~on or proceeding or to do any other act which ~n its opinion may be necessary or desirable to estabhsh the htle to the estate or interest. STIPULATIONS as insured, or to prevent or reduce loss or damage to the insured. The Com- pany may take any appropriate action u rider the ter ms of this pol icy. whether or not it shall be liable hereunder, and shall not thereby concede liability or waive any provision of this policy. If the Company shall exercise its rights under this paragraph, it shall do so diligently (c) Whenever the Company shall have brought an action or interposed a defense as required or permitted by the provisions of this policy, the Com- pany may pursue any litigation to final determination by a court of competent lurisdiction and expressly reserves the right. in its sole discretion, to &ppeal from any adverse judgment or order. (d) In all oases where this policy permits or red u ires the Company to p ro- secute or provide for the defense of any action or proceeding, the insured shall secure to the Company the right to so prosecute or provide defense in the action or proceeding, and all appeals therein, and permit the Com- pany to use, at its option, the name of the i nsu red for this purpose. Whenever requested by the Company, the insured, at the Company's expense. shall give the Company all reasonable aid (i) in any action o r proceed ing, securing evidence, obtaining witnesses. prosecuting or defending the action or pro- ceeding, or effecting settlement, and (ii) in any other lawful act which in the opinion of the Company may be necessary or desirable to establish the title to the estate or interest as insured. If the Company is prejudiced by the failure of the insured to furnish the required cooperation, the Company's obliga- tions to the insured under the policy shall terminate, including any liability or obligation to defend, prosecute, or continue any litigation. with regard to the matter or matters requiring such cooperation 5. PROOF OF LOSS OR DAMAGE. In add ition to and after the notices required under Section 3 of these Con- ditions and Stipulations have been provided the Company, a proof of loss or damage signed and sworn to by the insured claimant shall be furnished to the Company within 90 days after the insured claimant shall ascertain the facts g~ving rise to the loss or damage. The proof of loss or damage shall describe the defect in, or lien or encumbrance on the title, or other matter insured against by this policy which constitutes the basis of loss or damage and shall state, to the extent possible, the basis of calculating the amount of the loss or damage. If the Company is prejudiced by the fail u re of the insured claimant to provide the required proof of loss or damage, the Company's obligations to the insured under the policy shall terminate, including any liability or obligation to defend, prosecute, or continue any litigation, with regard to the matter or matters requiring such proof of loss or damage. In addition, the insured claimant may reasonably be required to submit to examination under oath by any authorized representative of the Company' and shall produce for examination, inspection and copying, at such reasonable times and places as may be designated by any authorized representative of the Company, all records, books, ledgers, checks, correspondence and memoranda, whether bearing a date before or after Date of Policy, which reasonably pertain to the loss or damage. Further, if requested by any author- ized representative of the Company, the insured claimant shall grant its per- mission, in writing. for any authorized representative of the Company to examine, inspect and copy all records, books, ledgers, checks, cor- respondence and memoranda in the custody or control of a third party, which reasonably pertain to the loss or damage. All information designated as con- fidential by the insured claimant provided to the Company pursuant to this Section shall not be d~sclosed to others unless, in the reasonable judgment of the Company, it is necessary in the administration of the claim. Failure of the insured claimant to submit for examination under oath, produCe other reasonably requested information or grant permission to secure reasonably necessary information from third padies as required in this paragraph shall terminate any liability of the Company under this policy as to that clam 6. OFTIONS TO PAY OR OTHERWISE SETTLE CLAIMS; TERMINATION OF LIABILITY. In case of a claim under this policy, the Corn party shall have the foilowl ng additional options: (a) To Pay or Tender Payment of the Amount of InsUi'ance. To pay or tender payment of the amount of ~nsu rance under this pohcy together with any costs, attorneys' fees and expenses incurred by the insured claimant, which were authorized by the Company, up to the time of payment or tender of payment and which the Company is obligated to pay Upon the exercise by the Company of th~s option, all liabihty and obhga- lions to the insured under th~s policy, other than to make the payment required, shall terminate. including any hab~hty or obhgatjon to defend, prosecute. or continue any litigat,on, and the pohcy shall be surrendered to the Company for cancellation (b) To Pay or Otherwise Settle With Parties Other than the Insured or With the Insured Claimant. (0 to pay or otherwise settle with other parties for or in the name CO t Rued On' next pa~e of COver sheet of an insured Claimant any claem ~nsured against under this policy, together with any costs, attorneys' fees and expenses rncurred by the ~nsured Claim- ant which were nuthorned by the Company up to the brae of payment and which the Company ~s obhgated to pay; Or (u) to pay or otherwise settle wrth the insured claimant the Joss or damage prowded for under th~s policy. together with any costs, attorneys' tees and expenses recurred by the insured Ga~mant which were authorized by the Company up to the time of payment and which the Corn pany is obligated to pay Upon the exercise by the Company of either of the options prowded for ~n paragraphs (b)(i) or (if), the Company's obhgations to the insured under th~s pohcy for the ola~med loss or damage, other than the payments required to be made, shall terminate, ~ncluding any liability or obligation to defend. prosecute or continue any litigation 7. DETERMINATION, EXTENT OF LIABILITY AND COINSURANCE. Th~s policy is a contract of indemnity against actua~ monetary toss or damage sustained or incurred by the insured cta~mant who has suffered loss or damage by reason of matters qnsured against by this policy and only to the extent herein described (a} The liability of the Company under this policy shall not exceed the least of: (i) the Amount of Insurance stated in Schedule A; or, (if) thedifferencebetweenthevalueoftheinsuredestateorinterest as insured and the value of the insured estate or interest subject to the defect, lien or encumbrance insured against by this policy (b) In the event the Amount of Insurance stated ~n Schedule A at the Date of Policy is less than 80 percent of the value of the insured estate or interest or the full consideration paid for the land, whichever is less, or if subse quent to the Date of Policy an improvement is erected on the land which ~ncreases the value of the insured estale or interest by at least 20 percent over the Amount of Insurance stated in Schedule A, then this Policy is subject to the following: (i) where no subsequent ~mprovement has been made, as to any partial loss, the Company shall only pay the loss pro rata in the propodion that the amount of insurance at Date of Policy Pears to the total value of the insured estate or interest at Date of Policy; or (if) whereasubsequent improvementhasbeenmade, astoanypar- tial loss, the Company shall only pay the loss pro rata in the proportion that 120 percent of the Amount of Insurance stated in Schedule A Pears to the sum of the Amount of Insurance stated in Schedule A and the amount expended for the improvement. The provisions of this paragraph shall not apply to costs, attorneys' fees and expenses for which the Company is liable under this policy, and shall only appfy to that portion of any loss which exceeds, in the aggregate, 10 percent of the Amount of Insurance stated in Schedule A. (c) TheCompanywill payonlythosecosts, attorneys' feesandexpenses incurred in accordance with Section 4 of these Conditions and Stipulations 8. APPORTIONMEN'E If the land described in Schedule A consists of tv~ or more parcels which are not used as a single site, and a loss is established affecting one or more of the parcels but not all, the loss shall be computed and settled on a pro rata basis as if the amount of insurance under this policy was divided pro rata as to the value on Date of Policy of each separate parcel to the whole, exclusive of any improvements made subsequent to Date of Policy, unless a liability or value has otherwise been agreed upon as to each parcel by the Com party and the insured at the ti me of the issuance of this policy and shown by an express statement or by an endorsement attached to this policy. 9. LIMITATION OF LIABILITY. (a) If the Company establishes the title, or removes the alleged defect, hen or encumbrance, or cures the lack of a rig ht of access to or from the land, or cures the claim of unmarketabifity of title, all as insured, in a reasonably ddlgent manner by any method, including litigation and the completion of any appeals therefrom, ~t shall have fully performed its obligations with respect to that matter and shall not be hable for any loss or damage caused thereby, (b) In the event of any libgallon, including litigation by the Company or w~th the Company's consent, the Company shall have no liability for loss or damage until there has been a final determination by a court of competent lur+sd~cbon, and d~sposibon of all appeals therefrom, adverse to the title as ~nsured (c) The Company shall not be liable for loss or damage to any ~nsured for hab~hty voluntarily assumed by the insured in settling any claim or suit without the prior written consent of the Company CONDITIONS AND STIPULATIONS--CONTINUED 10. REDUCTIONOFINSURANCE;REDUCTIONORTERMINATIONOF LIABILITY. All payments under th~s policy. except payments made for costs, attorneys fees and expenses. Shall reduce the amount of the ~nsurance pro tanto 11. LIABILITY NONCUMULATIVE. It is expressly understood that the amount of insurance under th~s pohcy shall be reduced by any amount the Company may pay under any pohcy ~nsunng a mortgage to which exception ~s taken in Schedule B or to which the insured has agreed, assumed. or taken sublect. or which ~s hereafter exe- cuted by an insured and which is a charge or hen on the estate or ~nterest described or referred to in Schedule A, and the amount so pa~d shall be deem ed a payment under this pohcy to the ~nsured owner 12. PAYMENT OF LOSS. (a) Nopaymentshallbemadewithoutproducingthispohcyforendorse- ment of the payment unless the pohcy has been lost or destroyed, ~n which case proof of loss or destruction shall be furnished to the satisfaction of the Company. (b) When liability and the extent of loss or damage has been definitely fixed in accordance with these Cond~bons and Stipulabons, the loss or damage shall be payable within 30 days thereafteE 13. SUBROGATION UPON PAYMENT OR SETTLEMENT. (a) The Company's Right of Subrogation. Whenever the Company shall have settled and paid a claim under th~s policy, all right of subrogation shall vest in the Company unaffected by any act of the insured claimant The Company shall be subregaled to and be enbtled to all rights and remedies which lhe insured claimant would have had against any person or properly in respect to the claim had this policy not been issued. If requested by the Company, the insured claimant shall transfer to the Company all rights and remedies against any person or property necessary in order to perfect this right of subrogation. The insured claimant shall permit the Company to sue, compromise or settle in the name of the insured Claimant and to use the name of the insured claimant in any transaction or litigation i nvolvi ng these rights or remedies ,, If a payment on account of a claim does not fully cover the loss of the insured claimant, the Company shall be subrogated to these rights and reined ies in the proportion which the Company's payment bears to the whole amount of the loss If loss shou Id resu It from any act of the insured claimanl, as stated above, that act shall not void this policy. but the Company, in that event. shall be required to pay only that part of any lossos insured against by this policy which shall exceed the amount, if any, lost to the Company by reason of the impaar ment by the insured claimant of the Company's right of subrogation (b) The Company's Rights Against Non-insured Obligors. The Compacy's right of subrogation against non-insured obhgors shall exist and shall include, without hmitation, the rights of the insured to indem- nities, guaranties. other policies of insurance or bonds, notwithstanding any terms or conditions contained ~n those instruments w hich provide for su broga- tion rights by reason of this policy. 14. ARBITRATION. Unless prohibited by applicable law. either the Company or the insured may demand arbitration pursuant to the Title Insurance Arbitration Rules of the American Arbitration Association. Arbitrable matters may include, but are not limited to, any controversy or claim between the Corn pany and the insu red ansmg out of or relating to th~s policy, any service of the Company ~n connec- tion with its issuance or the breach of a pelicy prows~on or other obligation All arbitrable matters when the Amount of Insurance is $1,000,000 or less shall be arbitrated at the option of either the Company or the ~nsUred. All arbitrable matters when the Amount of Insurance ~s ~n excess of St ,000,000 shall be arbitrated only when agreed to by both the Company and the insured Arbitration pursuant to this policy and under the Rules in effect on the date the demand for arbitration is made or. at the option of the tnsured, the Rules in effect at Date of Policy shall be binding upon the parties The award may include attorneys' fees only if the laws of the state in which the land is located permit a court to award attorneys' fees to a prevailing party Judgment upon the award rendered by the Arbitrator(s) may be entered in any court having jurisdiction thereof The law of the situs of the land shall apply to an arb~trahon under the Title Insurance Arbitration Rules A copy of the Rules may be obtained from the Company upon request CONDITIONS AND STIPULATION8 -- CONTINUED 15. LIABILITYLIMITEDTOTHISPOLICY;POLICYENTIRECONTRACT. (a) This policy together with all endorsements, if any, attached hereto by the Company is the entire policy and contract between the insured and the Company. In interpreting any provision of this policy, th~s policy shall be COnstrued as a whole. (b) Any claim of k)ss or damage, whether or not based on neghgence, and which arises out of the status of the title to the estate or interest covered hereby or by any action asserting such claim, shall be restricted to th ~s pol ~cy. (c) No amendment of or endorsement to this policy can be made except by a writing endorsed hereon or attached hereto signed by either the President. a Vice President, the Secretary, an Assistant Secretary, or validating officer or authorized signatory of the Company. 16. SEVERABILITY. In the event any provision of the policy is held inCaSial or unenforceable under applicable law, the policy shall be deemed not to include that provi- sion and all other provisions shall remain in full force and effect 17. NOTICES, WHERE SENT. All notices required to be given the Company and any statement in writing required to be furnished the Company shall include the number of this policy and shaft be addressed to the Company at its Corporate Headquarters 101 Gateway Centre Parkway, Gateway One, Richmond, Virginia 23235-5153. Mailing Address: RO. Box 27567, Richmond, Virginia 23261, or to the Company at its Pacific States Office, 55 South Lake Ave., Suite 600, Pasadena, CA 91101. IN WITNESS WHEREOF, the Company has caused this policy to be signed and sealed, to be valid when countersigned by an authorized officer or agent of the Company, all in accordance with its By-Laws. Attest: Countersigned by: ku ers' de ]nsumnce o poration President POLICY OF TITLE INSURANCE A WORD OF THANKS.. . As we make your policy a part of our permanent records, we want to express our appreciation of this evidence of your faith in Lawyers Title Insurance Corporation. There is no recurring premium. Th~s policy provides valuable title protection and we suggest you keep it in a safe place where it will be readily available for future reference. If you have any questions about the protection provided by this policy, contact the office that issued your policy or you may write to: Consumer Affairs Department [,~wyers'~de Insurance (~rporation PO. Box 27567 Richmond, Virgins 23261