Loading...
HomeMy Public PortalAbout1978.11.21 Insurance Policy land purchased by cityREMAKLUS & PITTENGER, LAWYERS P.A. Professional Center Building Post Office Box 759 Cascade, Idaho 83611 Telephone (208) 382-4270 November 21, 1978 Robert H. Remaklus Gregory C. Pittenger Mrs. Margaret Fogg City Clerk McCall, Idaho Dear Margaret: Enclosed is the title insurance policy covering the 5 foot strip of land purchased by the city from Mr. and Mrs. Walker together with a statement therefor which the city has agreed to pay. Very truly yours, Robert H. Remaklus bb Ownerts AMOUNT $8,000.00 'Dryers Title Insurance Corporation A Stock, Company Home Office — Richmond ,Virginia STANDARD COVERAGE POLICY SCHEDULE A EFFECTIVE DATE November 17, 1978 INSURED CITY OF Mc CALL, a municipal corporation of the State of Idaho 1. The title to the fee simple estate o.r 1Tlterest In,the land -described below is at the date hereof vested in: City of McCall, a municipal corporation of;ethe State of Idaho. / The land referred to in this policy is'described-as'follows • A parcel of land situate1.n1 Lod 13,,?Secton4 9,. Township 18 North, Range 3 East, . Boise Meridian; ` Cityof xA1e:Ca11,:,, Valley County, Idaho, i � "�, more particularly described as ; LOWS. - I I I � � Commencing at the NW sorrier of 2nd'andAPark `Streets; Thence South 11°4211711 Ea_st,=60:0Meet''to the Southerly boundary of Park Street; Thence South 78°17t43tl-W'est�"��5.007`eet =along said Southerly bound- ti,.w ary to the REAL POINT,.OF BEGINNING;„ Thence South 11°42! 17" East045.'69 . feet; ' Thence North 89°50t58! West, 5.11 feet; Thence North 11°42t17tt West0J44.63 feed:to"said Southerly boundary; Thence North 78°17t4311 East, 5.00 feet to'.the Point of Beginning. Being the same land given by Warranty Deed from Burton E. Walker and Bette J. Walker, husband and wife, .as Grantors to the City of McCall, a municipal corporation of the State of Idaho, as Grantee, dated October 31, 1978 and filed for record in the office of the Recorder of Valley County, Idaho on November 17, 1978 in Drawer 2 of Deeds as Instrument No. 98462. Countersigned: Mountain Title Company 0374, 46-� uthonzed Officer or Agent ORIGINA4 Issued at: Cascade, Idaho Page 1 of Sched. A-Pol No. J 973211 POL. FORM -74 SCHEDULE A -LITHO IN U.S.A. 111511 l�9A nftAn STANDARD COVERAGE POLICY-1969 POLICY FORM 74 LITHO IN U.S.A. STANDARD COVERAGE POLICY-1969 STANDARD COVERAGE POLICY Lawyers Title insurance Corporation HOME OFFICE - RICHMOND, VIRGINIA Lawyers Title Insurance Corporation, a Virginia corporation, herein called the Company, for a valuable consideration paid for this Policy, Hereby Insures the parties named as Insured in Schedule A, the heirs, devisees, personal representatives of such Insured, or if a cor- poration, its successors by dissolution, merger or consolidation, against loss or damage not ex- ceeding the amount stated; in Schedule A, together with costs, attorneys' fees and expenses which the Company may become, obligated to pay as.„,,progi4d;inthe Conditions and Stipulations hereof, which the Insured shall sustain by reason cif. 1. Any defect in or lien or encumbrance on the9tltle to the estate or interest `covered hereby in the land described or referred o rn h- e A e itt ng at the date hereof, not shown oi- referred to in Schedule-B-or bxcluctedrfro�m-co�xverd -in-Schedule-B or in the Conditions and Stipulations; or � �- i ��I--:i 2. Unmarketability of such title as hereininsured- q 3. An defect in. the execution �o` airy'miortga ,liown debtedness, the owner of which'Ii§ namedlaCgnllnsu,`edninlSchedule uA, but onlyinsofar as such defect affects the lien or chargel of saidr or ge upon the estate or interest referred to in .this policy; or. 4. Priority over said mortgage, at the date- hereof, of any` lien or encumbrance not shown or referred to in Schedule B, or excluded from coyetage, in- the. Conditions and Stipulations, said mortgage being shown in Schedule BOin the=otder•Mof its priority; all subject, however, to the Conditions and Stipulations hereto annexed, which Conditions and Stipulations, together with Schedules Aand B, are hereby made a part of this policy. IN WITNESS WHEREOF, the Company has caused this Policy -to be signed and sealed, to be valid when Schedule A hereof is countersigned by an authorized officer or agent of the Company, all in accordance with its By -Laws. lawyers Title Ins a ce ration 6-70/4-0, President Attest: Secretary. to Lawyers Title Insurance corporation A Stock Company Home Office -- Richmond ,Virginia STANDARD COVERAGE POLICY SCHEDULE B This policy does not insure against loss or damage by the reason of the following: PART I 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 records. 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, claims of easement or encumbrances which are not shown by the public records. 4. Discrepancies, conflicts in boundary lines, shortage in area, encroachments, or any other facts which a correct survey would disclose, and which are not shown by the public records. 5. Unpatented mining claims; reservations or exceptions in patents or in Acts authorizing the issuance thereof; water rights, claims or title to water. PART II 1. TAXES for the year 1978 ar-.e alien but;A&Nyet due and payable. nc POL. FORM 74-SCHEDULE B LITHO IN U.S.A. 035-0-074-0002 Pi rf 1 /^ I R I A 1 Page 1 of Sched B—Pol. No. 3 973211 STANDARD COVERAGE POLICY-1969 POL. FORM 74-CONDITIONS AND STIPULATIONS LITHO IN U.S.A. STANDARD COVERAGE POLICY-1969 Lawyers Title Insurance Corporation Home Office — Richmond ,Virginia CONDITIONS AND STIPULATIONS 1. Definition of Terms The following terms when used in this policy mean: (a) "land the land described, specifically or by reference, in Schedule A and improvements affixed thereto which by law constitute real property; (b) "public records": those records which impart constructive notice of matters relating to said land; (c) "knowledge": actual knowledge, not constructive knowledge or notice which may be imputed to the Insured by reason of any public records; (d) "date": the effective date; (e) "mortgage": mortgage, deed of trust, trust deed, or other security instrument; and (f) "insured": the party or parties herein designated as Insured, and if the owner of the indebtedness secured by a mortgage shown in Schedule B is named as an Insured in Schedule A, the Insured shall include (1) each successor in interest in ownership of such in- debtedness, (2) any such owner who acquires the estate or interest referred-to=in:this policy by foreclosure, trustee's sale, or other legal man- ner in satisfaction of said indebtedness, and (3) any federal agencys i iiistrumentillity, which is an insurer or guarantor under an insurance contract or guaranty insuring or guaranteeing said indebtedness; ci any`part_thereof whether named as an Insured herein or not. 2. Benefits After Acquisition of Title If an insured owner of the indebtedness secured by a mortgage descnfed Am —'Schedule B acquires said estate or interest, or any part thereof, by foreclosure, trustee's sale, or other legal manner, in tsatisfactyion`cOf said indebtedness, or any part thereof, or if a federal agency or instrumentality acquires said estate or interest, or any part thereof as a consequence ef,•,an insurance contract or guaranty insuring or guaran- teeing the indebtedness secured by a mortgage covered by,this pollcjr, o'r,any-part thei- of, this policy shall continue in force in favor of such Insured, agency or instrumentality, subject to all of the conditions and; stipulations her`eof _r v. , 3. Exclusions From the Coverage of This Policy p, This policy does not insure against loss or damage by reason of theifollowing f (a) Any law, ordinance or governmental regulation • (Including but not F limited to building and zoning ordinances) restricting or regulating or prohibiting the occupancy, use or enjoyment of'.the-land„-or regulating Yhel:character, dimensions, or location of any improvement now or hereafter erected on said land, or prohibiting a separation.in ownership oy!a reduction in the dimensions or area of any lot or parcel of land. r r ; ` (b) Governmental rights of police power or eminent domain iunless.,notice of judicial action to exercise such rights appears in the public records at the date hereof. (c) Title to any property beyond the lines of the land expressly described in'Schedule A, or title to streets, roads, avenues, lanes, ways or waterways on which such land abuts, or the right to maintain therein vault"s,'tilnnels, ramps or any other structure or improvement; or any rights or easements therein unless this policy specifically provides that such property, rights or easements are insured, except that if the land abuts upon one or more physically open streets or highways.this policy insures the ordinary rights of abutting owners for access to one of such streets or highways, unless otherwise excepted or excluded herein. (d) Defects, liens, encumbrances, adverse claims against the title asp insured'`o'r other matters (1) created, suffered, assumed or agreed to by the Insured; or (2) known to the Insured either at the`da'te of this policy or at the date such Insured acquired an estate or in- terest insured by this policy and not shown by the public records, unless disclosure thereof in writing by the Insured shall have been made to the Company prior to the date of this policy; or (3) resulting in no loss to the Insured; or (4) attaching or created subsequent to the date hereof; or (5) mechanics' or materialmen's liens not shown of record at' the date hereof. (e) Claims against the estate or interest of an individual Insured based upon the homestead, community property, dower, curtesy or other statutory marital rights of the spouse of any such Insured. (f) Loss or damage which would not have been sustained if the Insured were a purchaser or encumbrancer for value without knowledge. (g) Usury or claims of usury. (h) "Consumer credit protection," "truth in lending" or similar law. 4. Defense_ and Prosecution of Actions —Notice of Claim .to be Given by the Insured (a) The Company, at its own cost and without undue delay shall provide (1) for the defense of the Insured in all litigation consisting of actions or proceedings commenced against the Insured, or defenses, restraining orders, or injunctions interposed against a foreclosure or sale of the indebtedness secured by a mortgage covered by this policy or a sale of the estate or interest in said land; or (2) for such action as may be appropriate to establish the title of the estate or interest or the lien of the mortgage as insured, which litigation or action in any of such events is founded upon an alleged defect, lien or encumbrance insured against by this policy, and may pursue any litigation to final determination in the court of last resort. (b) In case any such action or proceeding shall be begun, or defense interposed, or in case knowledge shall come to the Insured of any claim of title or interest which is adverse to the title of the estate or interest or lien of the mortgage as insured, or which might cause loss or damage for which the Company shall or may be liable by virtue of this policy, or if the Insured shall in good faith contract to sell the indebtedness secured by a mortgage covered by this policy, or, if an Insured in good faith leases or contracts to sell, lease or mortgage the same, or if the successful bidder at a foreclosure sale under a mortgage covered by this policy refuses to purchase and in any such event the title to said estate or interest is rejected as unmarketable, the Insured shall notify the Company thereof in writing. If such notice shall not be given to the Company within ten days of the receipt of process or pleadings or if the Insured shall not, in writing, promptly notify the Com- pany of any defect, lien or encumbrance insured against which shall come to the knowledge of the Insured, or if the Insured shall not, in writing, promptly notify the Company of any such rejection by reason of claimed unmarketability of title, then all liability of the Company in regard to the subject matter of such action, proceeding or matter shall cease and terminate; provided, however, the failure to notify shall in no case prejudice the claim of any Insured unless the Company shall be actually prejudiced by such failure and then only to the extent of such prejudice. (c) The Company shall have the right at its own cost to institute and prosecute any action or proceeding or do any other act which in its opinion may be necessary or desirable to establish the title of the estate or interest or the lien of the mortgage as insured; and the Company may take any appropriate action under the terms of this policy whether or not it shall be liable thereunder and shall not thereby concede liability or waive any provision of this policy. (d) In all cases where this policy permits or requires the Company to prosecute or provide for the defense or any action or proceeding, the Insured shall secure to it the right to so prosecute or provide defense in such action or proceeding, and all appeals therein, and permit it to use, at its option, the name of the Insured for such purpose. Whenever requested by the Company the Insured shall give the Company all assistance in any such action or proceeding, in effecting settlement, securing evidence, obtaining witnesses, or prosecuting or defending such action or proceeding, and the Company shall reimburse the Insured for any expense so incurred. (conditions and stipulations continued on cover sheet) CONDITIONS AND STIPULATIONS —CONTINUED 5. Notice of Loss —Limitation of Action In addition to the notices required under paragraph 4(b), a statement in writing of any loss or damage for which it is claimed the Com- pany is liable under this policy shall be furnished to the Company within sixty days after such loss or damage shall have been determined and no right of action shall accrue to the Insured under this policy until thirty days after such statement shall have been furnished, and no recovery shall be had by the Insured under this policy unless action shall be commenced thereon within five years after expiration of said thir- ty day period. Failure to furnish such statement of loss or damage, or to commence such action within the time hereinbefore specified, shall be a conclusive bar against maintenance by the Insured of any action under this policy. 6. Option to Pay, Settle or Compromise Claims The Company shall have the option to pay or settle or compromise for or in the name of the Insured any claim insured against or to pay the full amount of this policy, or, in case loss is claimed under this policy by the owner of the indebtedness secured by a mortgage covered by this policy, the Company shall have the option to purchase said indebtedness; such purchase, payment or tender of payment of the full amount of this policy, together with all costs, attorneys' fees and expenses which the Company is obligated hereunder to pay, shall ter- minate all liability of the Company hereunder. In the event, after notice of claim has been given to the Company by the Insured, the Company offers to purchase said indebtedness, the owner of such indebtedness shall transfer and assign said indebtedness and the mortgage securing the same to the Company upon payment of the purchase price. 7. Payment of Loss (a) The liability of the Company under this policy shall in no case _exceed, in all, the actual loss of the Insured and costs and at- torneys' fees which the Company may be obligated hereunder to pay. (b) The Company will pay, in addition to any loss _insured bgainst ,by thislpolicy, all costs imposed upon the Insured in litigation carried on by the Company for the Insured, and all costs and -.attorneys'', fees:. in`_,litigation carried on by the Insured with the written authorization of the Company. ,-"- (c) No claim for damages shall arise or be maintainable undeOhls;poliey (.1) if the Company, after having received notice of an alleged defect, lien or encumbrance not excepted or excluded herein-s;edidves` such -defect, lien or encumbrance within a reasonable time after receipt of such notice, or (2) for liability voluntarily assumed by the'nsured in settling ,any claim or suit without written consent of the Com- pany, or (3) in the event the title is rejected as unmarketable because' of a defect Mien or encumbrance not excepted or excluded in this policy, until there has been a final determination by a court' of competent jurisdiction sustaining such rejection. ,,� (d) All payments under this policy, except payments- made .for, costs„'attorneys' fees and expenses, shall reduce the amount of the insurance pro tanto and no payment shall be made without pr'oducing,this.policy`fer endorsement of such payment unless the policy be lost or destroyed, in which case proof of such joss or destruction shall be furnished 'to' the satisfaction of the Company; provided, however, if the owner of the indebtedness secured by a mortgage shown in Schedule; B is~6n Insured' herein then such payments shall not reduce pro tanto the amount of the insurance afforded hereunder as to such Insured, 'except to the extent that such payments reduce the amount of the in- debtedness secured by such mortgage. Loss payable to the Insured under this policy 'shall be payable, first, to any insured owner of in- debtedness secured by mortgage shown in Schedule B in the order of, priority, ratably as their respective interests may appear if such owner- ship vests in more than one, and thereafter, or if there be no such `insured owner of indebtedness, to the other Insured, ratably as their respective interests may appear. Payment in full by any person�or voluntary satisfaction:,or release by the Insured of a mortgage covered by this policy shall terminate all liability of the Company to the insured owner` of'the indebtedness secured by such mortgage, except as provided in paragraph 2 hereof. (e) When liability has been definitely fixed in accordance`with 'the-conditfons''of this policy the loss or damage shall be payable within thirty days thereafter. 8. Liability Noncumulative It is expressly understood that the amount of this policy is reduced by any amount the Company may pay under any policy insuring the validity or priority of any mortgage shown or referred to in Schedule B hereof or any mortgage hereafter executed by the Insured 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 to the In- sured under this policy. The provisions of this paragraph numbered 8, shall not apply to an insured owner of an indebtedness secured by a mortgage shown in Schedule B unless such Insured acquires title to said estate or interest in satisfaction of said indebtedness or any part thereof. 9. Apportionment If the land described or referred to in Schedule A is described as separate and non-contiguous parcels, or if contiguous and such par- cels are not used as one single site, and a loss is established affecting one or more of said parcels but not all, the joss shall be computed and settled on a pro rata basis as if the face amount of the policy was divided pro rata as to the value on the date of this policy of each separate independent parcel to the whole, exclusive of any improvements made subsequent to the date of this policy, unless a liability or value has otherwise been agreed upon as to each such parcel by the Company and the Insured at the time of the issuance of this policy and shown by an express statement herein or by anendorsement attached hereto. 10. Subrogation Upon Payment or Settlement Whenever the Company shall have settled a claim under this policy, all right of subrogation shall vest in the Company unaffected by any act of the Insured, and it shall be subrogated to and be entitled to all rights and remedies which the Insured would have had against any person or property in respect to such claim had this policy not been issued. If the payment does not cover the loss of the Insured, the Com- pany shall be subrogated to such rights and remedies in the proportion which said payment bears to the amount of said loss. If loss should result from any act of the Insured, such 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 hereunder which shall exceed the amount, if any, lost to the Company by reason of the impairment of the right of subrogation. The Insured, if requested by the Company, shall transfer to the Company all rights and remedies against any person or proper- ty necessary in order to perfect such right of subrogation, and shall permit the Company to use the name of the Insured in any transaction or litigation involving such rights or remedies. If the Insured is the owner of the indebtedness secured by a mortgage covered by this policy, such Insured may release or substitute the personal liability of any debtor or guarantor, or extend or otherwise modify the terms of payment, or release a portion of the estate or interest from the lien of the mortgage, or release any collateral security for the indebtedness, provided such act does not result in any loss of priority of the lien of the mortgage. 11. Policy Entire Contract Any action or actions or rights of action that the Insured may have or may bring against the Company arising out of the status of the lien of the mortgage covered by this policy or the title of the estate or interest insured herein must be based on the provisions of this policy. No provision or condition of this policy can be waived or changed except by writing endorsed hereon or attached hereto signed by the President, a Vice President, the Secretary, an Assistant Secretary or other validating officer of the Company. 12. Notices, Where Sent All notices required to be given the Company and any statement in writing required to be furnished the Company shall be addressed to its home office, 3800 Cutshaw Avenue, Richmond, Virginia 23230. kuNers Title Insurance Corporation Home Office — Richmond ,Virginia POL. FORM 74 - COVER SHEET - CONDITIONS AND STIPULATIONS LITHO IN U.S.A. STANDARD COVERAGE POLICY-1969 Service available throughout the United States, Puerto Rico, the U.S. Virgin Islands and Canada. ..aq_ .Lawyers Title Insurance Corporation Home Office - Richmond .Vit$inie National Division, Branch and Agency offices and Approved Attorneys located throughout the operating territory as shown on the map. iL {rim a T+1315ii 1 „ i m-o 0, S 0 CD 7r � CD f1 <O.��,I � CI 64. n g Gn"'•' O p� O 10.1 CD A word of thanks to our insured .... . 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. This 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 or wish to contact us for any other reason, write, to: Consumer Affairs Department Ieuyers Title 'Insurance corporation P.O. Box 27567 Richmond, Virginia 23261