HomeMy WebLinkAbout2003-020 Title Insurance - Siskiyou LotLawyers Title Insurance Corporation
1400 Ashland Street
Ashland, Oregon 97520
Tel~ (541) 488-2240 Fax~ 488-1786
City Of Ashland
Title Policy Enclosed
20 E Main St
Ashland OR 97520
Re:
Escrow No. 109342
Corner Lot Siskiyou Blvd
Ashland, Oregon 97520
Loan No.
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,
Patricia Gray, CSEO
Escrow Officer
Enclosure
ISSUED By
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OWNER'S POLICY OF TrrLE INSURANCE
SUBJECT TO THE EXCLUSIONS FROM COVERAGE, THE EXCEPTIONS 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 vested other than as stated therein;
2. Any defect in or lien or encumbrance on the title;
3. Unmarketability of the title;
4. Lack of a right of access to and from the land.
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.
IN WITNESS WHEREOF, lAWYERS TITLE INSURANCE CORPORATION has caused its corporate name and seal to be hereunto affixed by
its duly authorized officers, the Policy to become valid when countersigned by an authorized officer or agent of the Company.
Secretary
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LAWYERS TITLE INSURANCE CORPORATION
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By:
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President
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 occupancy, use, or enjoyment of the land; (ii) the character, dimensions or
location of any improvement now or hereafter erected on the land; (iii) a separation in ownership or a change in the dimensions 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 violation 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, except to the extent that a notice of the exercise thereof or a notice of a
defect, lien or encumbrance resulting from a violation or alleged violation affecting the land has been recorded in the public records at
Date of Policy.
2. Rights of eminent domain unless notice of the exercise thereof has been 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 disclosed
in writing to the Company by the insured claimant prior to the date the insured claimant became an insured under this policy;
(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 interest 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 policy being deemed a preferential transfer except where the preferential
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.
NM 1 PA 10
Al TA Owner's Policy (10-17-92)
Face Page
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'sJo^!1\Jns 'saas!^ap 'saalnqplS!p 'SJ!alj 'Ol pallW!llOU lnq 'llu!pnpu! aseljo.md WOJI
paljs!nllu!lS!P se MellO UO!leJado ^q pamsu! paweu aljl JO lSaJalU! aljl Ol paaoons
OljM aSOljl 'pamsu! paweu aljllSU!elle pelj a^elj PlnOM ^uedwo8 aljl sasualap JO
Slljllp ^ue ollOa[qns 'pue 'V alnpaljos U! paweu pamsu! aljl :"pamsu!" (e)
:ueaw ^O!lod S!ljl U! pasn ualjM sWJalllulMOIIOI aljl
"SWI:f3.L :10 NOUINI:l30 " ~
SNOIJ.y,ndU.S ONY SNOIJ.IONOO
CONDITIONS AND STIPULATIONS - Continued
7. DETERMINATION, EXTENT OF LIABILITY AND COINSURANCE.
This policy is a contract of indemnity against actual monetary loss or
damage sustained or incurred by the insured claimant who has suffered loss
or damage by reason of matters insured 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,
(ii) the difference between the value of the insured estate or
interest 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 in Schedule A at the
Date of Policy is tess 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
subsequent to the Date of Policy an improvement is erected on the land
which increases the value of the insured estate or interest by at least 20
perce~t over the Amount of Insurance stated in Schedule A, then this Policy
IS subject to the following:
(i) where no subsequent improvement has been made, as to any
partial loss, the Company shall only pay the loss pro rata in the proportion
that the amount of insurance at Date of Policy bears to the total value of the
insured estate or interest at Date of Policy; or
. (ii) where a subsequent improvement has been made, as to any
partial 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 bears 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 apply to that portion of any loss which exceeds, in the aggregate, 10
percent of the Amount of Insurance stated in Schedule A.
(c) The Company will pay only those costs, attorneys' fees and
expenses incurred in accordance with Section 4 of these Conditions and
Stipulations.
8. APPORTIONMENT.
If the land described in Schedule A consists of two 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 ~
liability or value has otherwise been agreed upon as to each parcel by the
Company and the insured at the time 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,
lien or encumbrance, or cures the lack of a right of access to or from the
land, or cures the claim of unmarketability of title, all as insured, in a
reasonably diligent manner by any method, including litigation and the
cO'!lpl~tion ~f any appeals therefrom, it shall have fully performed its
obligations With respect to that matter and shall not be liable for any loss or
damage caused thereby.
(b) In the event of any litigation, including litigation by the Company or
with 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
!urisdiction, and disposition of all appeals therefrom, adverse to the title as
Insured.
. (c~. The Company shall not be liable for loss or damage to any insured
for liability voluntanly assumed by the insured in settling any claim or suit
without the prior written consent of the Company.
10. REDUCTION OF INSURANCE; REDUCTION OR TERMINATION OF
LIABILITY.
All payments under this policy, except payments made for costs,
attorneys' fees and expenses, shall reduce the amount of the insurance pro
tanto.
11. LIABILITY NONCUMULATIVE.
It is expressly understood that the amount of insurance under this policy
~hall . be reduced by any amount the Company may pay under any policy
Insunng a mortgage to which exception is taken in Schedule B or to which
the insured has agreed, assumed, or taken subject, or which is hereafter
executed by an insured and which is a charge or lien on the estate or interest
described or referred to in Schedule A, and the amount so paid shall be
deemed a payment under this policy to the insured owner.
12. PAYMENT OF LOSS.
(a) No payment shall be made without producing this policy for
en?orsement of the payment unless the policy has been lost or destroyed, in
which case proof of loss or destruction shall be furnished to the satisfaction
of the Company.
B 1190-88
. (~) When liability and the extent of loss or damage has been definitely
fixed In accordance with these Conditions and Stipulations, the loss or
damage shall be payable within 30 days thereafter.
13. SUBROGATION UPON PAYMENT OR SETTLEMENT.
(a) The Company's Right of Subrogation.
Whenever the Company shall have settled and paid a claim under this
policy, all right of subrogation shall vest in the Company unaffected by any
act of the insured claimant.
The Company shall be subrogated to and be entitled to all rights and
remedies which the insured claimant would have had against any person or
property 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 involving 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
remedies in the proportion which the Company's payment bears to the whole
amount of the loss.
If loss should result from any act of the insured claimant, 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 losses insured against by this policy
which shall exceed the amount, if any, lost to the Company by reason of the
impairment by the insured claimant of the Company's right of subrogation.
(b) The Company's Rights Against Non-insured Obligors.
The Company's right of subrogation against non-insured obligors shall
exist and shall include, without limitation, the rights of the insured to
indemnities, guaranties, other policies of insurance or bonds, notwithstanding
any terms or conditions contained in those instruments which provide for
subrogation 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 Company and the
insured arising out of or relating to this policy, any service of the Company in
connection with its issuance or the breach of a policy provision 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 insured. All arbitrable matters when the Amount of Insurance is in
excess of $1,000,000 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 insured, 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 arbitration under the
Title Insurance Arbitration Rules.
A copy of the Rules may be obtained from the Company upon request.
15. LIABILITY LIMITED TO THIS POLICY; POLICY ENTIRE CONTRACT.
(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, this policy shall be
construed as a whole.
(b) Any claim of loss or damage, whether or not based on negligence,
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 this policy.
(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 invalid or unenforceable
under applicable law, the policy shall be deemed not to include that provision
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 shall be addressed to: Consumer Affairs Department, P.O. Box
27567, Richmond, Virginia 23261-7567.
LAWYERS TITLE INSURANCE CORPORATION ALTA OWNER'S POLICY
CASE NO.
DATE OF POLICY
SCHEDULE A
AMOUNT OF INSURANCE
November [ 2002
109342 at 2:10 P ~. $5,040.00
PREMIUM
$2OO.00
POLICY NO.
109342
1. Name of Insured:
City Of Ashland, a municipal corporation
2. The estate or interest in the land covered by this policy is:
FEE SIMPLE
3. The estate or interest referred to herein is at Date of Policy vested in
City Of Ashland, a municipal corporation
4. The land referred to in this policy is described as follows:
SEE EXHIBIT "A" ATTACHED HERETO
LAWYERS ~ITLE INSUP.~N~E CORPORATION
COUNTERSIGNED BY AUTHORIZED
OFFICER OR AGENT
ISSUED AT MEDFORD, OREGON
This policy is invalid unless
the cover sheet and Schedule B
are attached.
LAWYERS TITLE INSURANCE CORPORATION
CASE NO. DATE OF POLICY
November 7, 2002
109342 at 2:10 P.M.
ALTA OWNER'S POLICY
POLICY NIIMBER
109342
SCHEDULE B
This policy does not insure against loss or damage by reason of
the following~
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. 2002-03 taxes, a lien in an amount to be determined, but not yet
payable.
109342
EXHIBIT A
Commencing at a 1" square iron bar on the centerline of Siskiyou Boulevard in the
City of Ashland, Oregon, from which the southwest corner of Donation Land Claim No.
39 in Township 39 South, Range 1 East, of the Willamette Meridian in Jackson County,
Oregon, bears North 89050'15" West, 2698.91 feet; thence South 43007'24" East, 222.20
feet to the southwesterly right of way of said Siskiyou Boulevard; thence along said
right of way, North 56007'39" West, 29.23 feet to a 5/8" iron pin; thence continuing
along said right of way, North 56007'39" West, 134.95 feet to the Point of Beginning;
thence continue North 56007'39" West, 23.93 feet to the intersection with the
easterly right of way of Beach Street, said point bears South 04017'06" West, 57.50
feet from said 1" square iron bar on the centerline of Siskiyou Boulevard; thence
along said easterly right of way, South 00009'36" East, 74.01 feet; thence North
89050'24" East, 0.90 feet; thence North 00009'36" West, 9.17 feet; thence 45.44 feet
along a curve to the right, having a central angle of 34001'57", a radius of 76.50
feet, and a long chord which bears North 16051'22" East, 44.77 feet; thence North
33052'21" East, 10.42 feet to the Point of Beginning.
(Code 5-01, Portion Acct #1-007232-1, Map #391E09DA, Portion Tax Lot #6000)
w >>' H'
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This P.rInt Is mad. iolely for tII. purpose of
...'_'n Jocatlng $lId premises and tile N
cOmany lSSumlS 1IO 'labil~ for Information t
printed 011 this RlI,lInc!udIng zoning. var'.I1Ions. W E
If any, In dilnenSloM amf 100000000, IICIrtalnld
by actualsurwy;
JACKSON COUNTY TITLE S
1555 E. McAndrews Ph. 779-2811
Medft>rcf\ bregon 97594
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