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POLICY OF TITLE INSURANCE ISSUED BY
t
STEWART TITLE }
+
+ GUARANTY COMPANY +
} SUBJECT TO THE EXCLUSIONS FROM COVERAGE, THE EXCEPTIONS FROM COVERAGE CONTAINED IN +
' SCHEDULE B AND THE CONDITIONS AND STIPULATIONS, STEWART TITLE GUARANTY COMPANY, a Texas +
} corporation, herein called the Company, insures, as of Date of Policy shown in Schedule A, against loss or damage, not +
a
+ exceeding the Amount of Insurance stated in Schedule A, sustained or incurred by the insured by reason of:
f 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; +
j } 3. Unmarketability of the title;
3
+ 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 t
+ only to the extent provided in the Conditions and Stipulations. i
IN WITNESS WHEREOF, Stewart Title Guaranty Company has caused this policy to be signed and sealed by its
+ duly authorized officers as of the date of Policy shown in Schedule A. }
+ STEWART TITLE }
GUARANTY COMPANY }
t Chairman of the Boarcr President
} Countersigned:
+ Authorized nato �'Ito t,
+ AnteriTitle
} Company =- EXA
_"tit.
Cascade, Idaho 83611 ` t
City,State }
+ 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:
r 1. a) Any law,ordinance or governmental regulation(including but not limited to building and zoning laws,ordinances,or regulations)restricting,regulating, }
prohii iting 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 f
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.
j + (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 1
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 +
' Com any 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 of 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 licy. +
z + 4. ny claim, which arises out of the transaction vesting in the Insured the estate or interest insured by this policy, by reason of the operation ofpfederal +
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.
P 13 9 7 2 6 2
Policy
ori°Y 0-9993-Serial No. f
ALTA OWNER'S POLICY-10-17-92
(Aopod s14110 e6ed lsel uo pepnpuoa pue penulluoo)
•uole6ll A1ssejdxe up uololpsunf lualedwoo 10 unoo a Aq uolieumalap leuil of uo!le6!i!I
Aue anuquoo jo alnoesoid 'puelep of uo!le6!lgo ao Ail!ge!i Aue 6u!pnpu! `aieumel An ensind Aew Auedwoo ayi`A311od s!yl}o suo!smid ayi Aq pe4!wjad io paj!nbej se
Ilegs 'spew aq of palnbei siuewAed aql ueyl jayio 'a6ewep jo ssol paw!ep ayi asualap a pesodaaluw ao uoilN up ly6naq aney lleys Auedwoo aql ianauagM (0)
col Ao!Iod s!ql japun pamsu)aql of suo!le6lgo s,Auedwoo eql'(u)jo(!)(q)sydej6ejed Allua61l!p os op Ileys 1!'ydej6eied slgl japun siy6u i!aslaaxe
w col pap!Aoid suoldo ayi 10 jegi!e 10 Auedwo eqi Aq asmaxe ayi uodfl lays Auedwoo ayi ll 'Aollod s!yl}o uolslnoad Aue anleM Jo Ai!llgel apaouoo Agaaayl
-Aed of pole611Qo sl uedwoo eql 4olgM pue luawAed 10 lou legs pue APunejeq olge1l al Ileys 1!lou jo jeglagm'Aollod s!yl 10 swial ayi japun
awil ayi of do Auedwoo eql Aq pazuogine BiaM yoigm luewlep pamsuw eqi Aq paianou! uoloe aieudo�dde Aue 81e1 Aew Au woo aq j •pamsu)ayi of Amp jo ssol Bonpej
sasuadxa pue seal,SAOLUOR'sisoo Aue Rm J84ia6ol`Aolod s!ql iapun jo pep!Aoid io luanajd of ao'painsw se'iseialui jo elelse a l of all!)ayi ys!lgelse of elgealsap jo
96ewep jo ssol eql luewlep pamsu!aql 4l!M 914as eslnua4lo ao Aed of (!!# kesseoeu eq Aew uoluldo-si!uw yo!gM ioe�ayio to op of ao 6ulpeend io uolloe Aue
ao ainoasoid pue elnl!isu!of'isoo uMo sl!le'ig61j ayi aney llegs Auedwoo ayil (q)
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pazuoylne ajaM goigm luewlelo pamsu!eql Aq paimoul sasuadxa pue saal,sbuwoge uoloe to sasneo asoyi to esualap ayi u1 paansu!ayi Aq paimoui sasuadxa jo sisoo
'sisoo Aue q m aayla6ol`Aolod s!yl japun isule6e pamsu)w!ep Aue luewlep pamsu) `seal Aue Aed iou l!M Auedwoo eqj •lasunoo jaglo Aue 10 seal aql Aed lou ll!m pue
ue 10 aweu ayi w jo iol sailed jagio 4l!M alias eslnuaglo ao Aed of (!) jol alge!l aq iou legs pue uolioe 10 sasneo palels Bsoyi 01 se pamsu)ayi luesadej of
•luewlelO painsul 041 (asneo e1quoseei jol ioafgo of pamsuw a4l to iy6u aql of pefgns)aoiogo sl!10 lasunoo
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uolelaoueo jol uedwoo ayi of paiapuaims aq lleys Aolod ayi jeglo io aoueigwnoua jo uall 'ioalap a 6u6alle uolloe to sasneo palels asoyi of se
pue'uo!le6!i!l Aue anu!luoo jo'alnoasad'puejap of uo!le6!lgo ao Aillgel Aue 6ulpnpuw Aluo inq'pamsu)se lsMiul Jo ell!i e4l 01 asIanpe w!ep a spasse Aped pjlgl Aue yolgM
'aleulwal legs 'pailnbai luawAed aql anew of ueyl jayio 'Aollod slgl aapun pamsui ui uolle6!il uw pamsu)ue to asualap ayi col apinoid)lays'Aelap algeuoseajun inoyi!m
aql of suo!le6!lgo pue kggeil Ile'uo!ido slgi 10 Auedwoo ayi Aq espim ayi uodn pue isoo uMo sl! le 'Auedwo� ayi 'suolelndlS pue suolipuoo asegl 10 9 uoip@S
-Aed of paie6llgo sl Auedwoo ayi yolyM ul pauleluoo suoildo ayi of loa•gns pue paansu!ayi Aq isanbei ueR!jm uodn (e)
pue ivawAed to japual jo luawAed 10 awl ayi of do'Auedwoo ayi Aq pazuoylne aaaM '31V83400 Ol
goigm'luewlep pamsuw aql Aq pajmouw sasuadxa pue seal,sAaujoge`sisoo An yl!m 1NVWIVI3 a38nSNl d0 Aina`•SNOLLOV d0 NOI1f1O3SOHd aNV 3SN3d3a b
jayle6ol Aollod s!qi japun aouemsui 10 iunowe aql 10 ivawAed japual io Aed o •aolpnlejd
mueinsul 10 lunowV 04110 1uawAed Japual Jo AM of ayi to lualxa ayi of Aluo uayl pue ajnl!el aql Aq peolpnfaid eq lays Auedwo� 041
:suo!ido leuoll!ppe ssalun Aollod slgl aapun pamsu)Aue 10 slg6u ayi aolpnfaid aseo ou u1 legs Aue woo
6wMolol ayi aney legs Auedwoo aql 'Aollod slyl japun wlep a to aseo ul eql Alllou of aml!el leyl'aanaMoy'pap!Aojd'paj!nbej si aollou idwad go!gM aol siallew
U118VI1 JO MUM ayi of PJe6aJ 4i!M eleulwal legs Auedwoo aql 10 k!I!gell Ile Pemsuw ayi of
30 N0IIVNIWH31!SWIV1?3JIMS 3SIMH3H10 80 AVd 01 SNOI1,d0 '9 se uayi`Auedwoo ayi of u8n16 eq iou legs Bolou idwoad 1I •algela�uewun se paioebi
•wlep le4l of se Aollod slgl japun ue woo ayi io k!lge!l An aleumal legs q m6med sl`paansu!se'isaialui jo alelse ayi of ell!l 1!(nl)to`Aollod slgl 10 anu!A Aq elge!l aq Aew
sly) uw peambea se saiped palgl woal uollewjolul A,essaoau Algeuoseaj Bmoes Auedwoo ayi yolyM jol a6ewep io ssol asneo ly6lw goigm pue'pamsu)se 'isaalul
of uo!ss!wad iumb jo uolewolul palsenbei Algeuoseei aaglo aonpoad 'yleo japun Jo aielse aql of 811!1 ayi 01 asIanpe sl 4314M 1s918161 jo elul to w!elo Aue 10 iapunejaq
uolleu!wexa jol 11wgns of luewlep pamsu!ayi 10 amg) w!ep aql 10 uolleiislulwpe pamsu) ue of awoo legs 96pelMoq aseo ul (!!) 'Molaq (e)y uo!ioaS uw quol ias se
ayi w Aaessaoau s! U 'Auedwoo ayi 10 luaw6pn equoseei aql ul 'ssalun uo!le6!i!l Aue 10 aseo u!()6uwluM uw Alidwoid Auedwoo ayi 4!lou legs poinsuw eq j
saayio of pasopslp Bq iou legs uo!peS sly)of luensind Auedwoo eql of pap!Aad '1NVW m a3unSNI A8 MAID 38 Ol WIVIQ dQ 13IlON '£
iuew!ep pamsuw eql Aq le!luopguoo se paleu6lsap uoliewoluw lV •a6ewep jo ssol •paansui ayi 01 uaA! abbe Uow ABUOw
ayi of uweuad Algeuoseai yoigm'Abed p.ugl a 10 loiluoo ao Apoisno eql ul epueiowew aseyomd a Aq pamoes ssoupalgapul up(!)ao`puel ayi ul isajalul io alelse up(!)jegl!e
pue aouepuodseim`goago'sia6pal'slooq'spiooei le Adoo pue loadsul`eulwexe of to painsw ayi woal aaseyomd Aue 10 Jonel w nol ul enuwluoo lou legs Aolod s!41
Auedwoo ayi l0 anlelues idea pazuoylne Aue jo1'6uwluM uw'uo!ssiwied sl!iuuk legs •isBialuw io aieisa ayi 10 aOueAanuoo Jo JalsuMl Aue ul peinsu!ayi Aq apew AluneM
luew!elo pamsu! ayi'Auedwoo ayi 10 BAleivasBidaipezuogine flue Aq palsenbei 1! to slueuanoo 10 uoseai Aq Aulgel aney Ileys pamsuw ayi se 6uol os Aluo jo`pamsu!ayi
'aagpnd •a6ewep jo ssol ayi of upped A!geuoseej yolyM'Aolod 10 Blea Salle io ajolaq wojl jeseyomd a Aq uan16 96e6pow Aauow aseyomd a Aq painoes sseupelgepul up
alep a 6waeaq jeglegM 'epuejowaw pue eouepuodsajjoo 'goog sploq jo'puel ayi uw isaialul jo alelse up sulelej pamsui ayi se 6uol os Aluo pansuw up
'spiooa le'Auedwoo ayi 10 BAlielueseidaa pezuogine Aue Aq paieubsap eq Aew se 10�one1 w Aolod to aieQ 10 se aoaol ul anulluoo lays Aolod s!yi}o 86eJan03 ayj
sooeld pue saw!i a geuoseei yons le'5uiAdoo pue uoloadsul'uolleuwwexe iol aonpoad '31111 d0 33NVA3AN03 831AV 33NV8f1SNl d0 NOLLV(1NJIN03 'Z
Ileys pue Auedwoo ayi to aA!leluesajdej pezuoglne Aue Aq gleo japun uo!leulwne -all algeje�jew 10 AJanlap aql 6uumbei uo!i!puoo lenloeiluoo a 10 anp!n Aq aseyomd
of i!wgns of paalnbej aq Algeuoseai Aew luew!ep paansu! ayi 'uoli!ppe ul of uo!le6!lgo a41 wa1 pasealej aq of V elnpegoS ul paquosap isaialui io elelse ayi
96ewep ao ssol 10 looid 10 iaseyand a all!lue pinoM yoigm'a6uj8AO0 wal paldaoxa jo papnpxe iou'puel aql
yons buumbei siagew jo iallew ayi of pae6aa yl!M'uo!le6!i!l Aue anu!luoo io'alnoesoid of oll!i aql 6uwioalle jaiiew luaaedde to pe6alle ue:„ali!i ayi to k!l!gL)IeVewun„ (6)
'Pualap of uotle61lgo jo kiligell Aue 6ulpnpu!'aleumal legs Aollod ayi iBpun paansu! •peleool S1 puel ayi 4olgM
ayi of suo!le61 s,Auedwoo ayi `a6ewep jo ssol 10 load pennbei ayi apinad of ul iouls!p ayi jol pnoo louig salels Pei!un ayi 10 vio ayi 10 spiooai ayi ul pall suall
luewlep pamsu!ayi 10 aml!e1 eql Aq peolpnlejd sl Auedwoo ayi 11 •96ewep io ssol ayi uoloaiad leivawualAua epnpul osle legs„spjooei olgnd„'a6eaanoo wad suolsnpx3
10 iunowe ayi 6u!lelnoleo 10 slseq aql'aIlgissod iu@Ve ayi of'alels hags pue a6ewep ayi 10(Alf a)i uoip6S of pedsaa 4l!M •e6palmouN inogi!M pue enleA col siesegomd
jo ssol 10 slseq ayi sainl!isuoo yolgM Aollod slyl Aq isu!e6e pamsu)jellew aayio ao'all!) of Apedoad leap of ble!ai siallew 10 aoliou aAlionji' 6wi�edwl 10 asodmd
aql uo aoueigwnoue ao ua!l io'uw pelep ayi aquosep legs 96ewep jo ssol 10 load ayi ayi 101 Aolod 10 alea le sainiels elels japun pays!lgeise spiom:„spjooei olgnd„(1)
a6ewep ao ssol ayi of asu 15UW15 sioel aql uippeose legs iuew!ep pamsu!ayi ja4e ivawniisuw Alpmes iaylo jo'peep isnul'isnul 10 peep'a6e6pow:„a6e6uow„ (a)
SAW pg ulyl!M Auedwoo ayi of l ayslwnl aq Heys luew!ep pamsu!aql Aq of worts pue •Aolod slgl Aq pamsui sl puel aql wa1 pue of ssaooe 10 lg61j
paubs 96ewep io ssol to looid a`Auedwoo ayi pap!Aoid ueeq aney suo!le!nd!iS pue a yo1gM of lualm ayi pw!l jo Alipow lleys u!aiaq 6u!ylou ing'sAenuaieM jo shm'sauel
suo1i!puoo esayl 10£uoloeS japun palnbei Sam u aql jade pue of uo1lPpe ul 'sAale'sanuane'spec'siaeiis 6ulgnge ul luawasea jo aieisa'isaiaiw'Bill)'i46u Aue
30VWVa HO SS01 0 jOOHd 5 jou'V elnpagoS ul of pa,ualBa ao paquosap ease ayi to souwl ayi puoAaq Avedad Aue
•uoilmad000 yons 6uumbei siallew jo jellew aql of pie ej yi1M'uole !i!I ue anulluoo apnpul lou seop„pue)„wal eL j •Apadad leas aini!isuoo noel Aq yo!yM olaaayl pexy}e
jo 'alnoesad 'pualap of uo!le6ilgo jo A!I!ge!l Aue 6ulpnpul 'aieulwal legs Aollod sivawanadwl pue 'V elnpagoS uw of paijejej ao paquosap puel a4l:„PUul. (P)
ayl aapun pamsu!aql of suo!le6!lgo s,Auedwo�ayl`uo!leiad000 peimbea eql gsluml of pueI aql
pamsui aql to anIq aql Aq paolpnfajd s!Aue woo ayi 11 •pamsui se isojejul ao alelse 6ugoalle SJBilew 10 aolOU Mpruisuoo pedwi yo14M spiom jaglo Aue ao Aollod sly)ul
ayi of api ayi ysllgelso of algensep jo Ajessaoeu eq Aew Auedwoo eql to uoluldo paullep se spiom ollgnd eqi 10 uoseaj Aq pamsui up of paindwl aq Aew yo14M aollou
ayi w yolgm toe IniAAel iaylo Aue ul(n)pue`iuewelles 6uloalle jo`6uwpaaoad ao uolloe jo a6palMou� anlonalsuoo lou 'a6palMou� lenioe :„unnou�„ ao „a6palMou�l„ (o)
ayi 6ulpualap io 6ulinoesoid 'sassaul!M 6u1u!elgo ` mPIAB 6ulm38s '6ulpamid •abewep io ssol 6ulwlelo pamsu!ue:„iuew!elo pamsu!„ (q)
jo uo!loe Aue ul (!) p!e algeuoseaj Ile Auedwoo ayi BA16 lays 'esuadxa s,Auedwoo •siossaoons kepnpli ao alejodjoo jo`ul)l 1O ixBu'SBAlleluesaidaa
aql le 'pamsu!ayi'Auedwoo aql Aq pelsenbei JOANOLIM •asodmd sq aol pamsu! leuosied'sionlNns'seas!Aep'seeinguislP'sj!aq'ol pel!wg iou inq'6ulpnpul aseyomd
aql 10 awn ayi `uolido sl! le 'esn of Auedwoo ayi lmad pue 'uiejegl sleadde Ile wa1 pegsm6u!is!p se Mel to uo!lejado Aq pamsui paweu aql to isaaalul aqi of paaoons
pue'6uwpaaoad jo uOloe ayi u1 Bsualap ap!Aojd jo alnoesad os of jg6u ayi Auedwoo oqm asoyi 'pamsuw poweu oql lsu!e6e ley aney pinoM Auedwoo aql sesualep
ayi of amoas Ileys pamsu)aql'6u!paaoad jo uoloe Aue to asualap ayi io1 ap!Aoid jo io sig6u Aue of ioafgns 'pue `y alnpayoS ul peweu pamsu! aql :„pamsu!„ (e)
ainoasad of Auedwoo aql sambei jo simad Aollod slgl ajagm saneo le ul (p) :ueaw Aollod s!qi uw pesn uegM swal 6uimolol a41
japio jo ivaw6pnf asJanpe AN wal leadde oi'uo!iaJoslP BIOS si!ul'ly611 ayi San,asW V11831 d0 NOIIIN1130 'I.
SNOIlVlndI1S aNV SN0111aNO3
ALTA OWNER'S POLICY
SCHEDULE A
Order No.: Seubert/City of McCall Policy No.: 0-9993-1397262
Date of Policy: March 3, 2000 Amount of Insurance: $825,000.00
1. Name of Insured:
City of McCall, an Idaho Municipal Corporation.
2. The estate or interest in the land which is covered by this policy is:
Fee Simple in and to the surface rights, excepting therefrom any and all interest in and to oil, gas,
mineral like substances together with all rights incidental thereto, that may have been heretofore
conveyed or reserved for which there has been no search of the public records and for which no
insurance is provided hereunder.
3. Title to the estate or interest in the land is vested in:
City of McCall, an Idaho Municipal Corporation.
4. The land referred to in this policy is described as follows:
See page 2A.
STEWART TITLE
0012 GUARANTY COMPANY
Page 2
i
,
Attached to and made a part of Stewart Title Guaranty Company Policy No. 0-9993-1397262
Continuation of Schedule A
A parcel of land being part of the Southwest 1/, of Section 17, T.18N., R.3E., B.M., Valley
County, Idaho, and more particularly described as follows:
Commencing at a found brass cap marking the West '/. corner of Section 17, T.18N., R.3E.,
B.M., Valley County, Idaho; thence South 89052'18" East along the East-West Center Section line of
said Section 17, 1,337.20 feet to a found 5/8" iron pin marking the Center West 1/16 corner of said
Section 17; thence leaving said Center Section line South 00°09'19"West, 128.34 feet to a found
5/8" iron pin; thence South 89054'08" East, 668.55 feet to a found 5/8" iron pin; thence South
00010'42" West, 38.15 feet to THE POINT OF BEGINNING;
thence South 89054'08" East, 334.26 feet to a point;
thence South 00011'24"West, 1,157.51 feet to a point on the Northerly boundary of Pine
Terrace Addition No. 2, a subdivision recorded in Book 7, page 75, of the Valley County Records;
thence along said Northerly boundary North 89059'38"West, 1,146.65 feet to a found 5/8"
iron pin on the Northeasterly Right-of-Way of Chad Drive;
thence along said Right-of-Way, on a non-tangent curve to the left, having a radius of 200
feet, a length of 95.05 feet, and a long chord which bears North 44013'34"West, 94.16 feet to a
point;
thence continuing along said Right-of-Way North 57050'28"West, 81.90 feet to a point;
thence leaving said Right-of-Way North 00°00'00"West, 928.80 feet to a point;
thence South 891154'08" East, 168.43 feet to a point;
thence North 00°00'00"West, 119.70 feet to point;
thence South 89054'08" East, 782.80 feet to the POINT OF BEGINNING.
Page 2A
STEWART TITLE
203A GUARANTY COMPANY
s
ALTA OWNER'S POLICY
SCHEDULE B
i
Policy No: 0-9993-1397262
This policy does not insure against loss or damage (and the Company will not pay costs, attorneys' fees
or expenses)which arise by reason of:
1. Rights or claims of parties in posssession not shown by the public records.
2. Easements, or claims of easements, not shown by the public records.
3. Encroachments, overlaps, boundary line disputes, or other matters which would be disclosed by an
accurate survey or inspection of the premises.
4. Any lien, or right to a lien, for services, labor or material hereto fore or hereafter furnished, imposed
by and not shown by the public records.
5. Community property, dower, curtesy, survivorship, or homestead rights, if any, of any spouse of the
insured.
6. Any titles or rights asserted by anyone including but not limited to persons, corporations,
governments or other entities, to tide lands, or lands comprising the shores or bottoms of navigable
rivers, lakes,bays, ocean or gulf, or lands beyond the line of the harbor or bulkhead lines as
established or changed by the United States Government or water rights, if any.
7. Reservations contained in Patent from the United States of America or State where the land
described in Schedule A is located.
8. Restrictive Covenants affecting the property described in Schedule A.
9. Taxes for the year 2000, an accruing lien not yet due and payable.
10. Assessments or liens by Valley County for garbage collection as provided for by law.
11. Unpatented mining claims; reservations or exceptions in patents or in Acts authorizing the issuance
thereof; water rights, claims or title to water.
12. POWER LINE EASEMENT to Idaho Power Company as filed for record in the office of the
Recorder of Valley County, Idaho on May 24, 1982 as Instrument No. 120522.
13. RECORD OF SURVEY, as filed for record in the office of the Recorder of Valley County, Idaho, on
December 30, 1991 as Instrument No. 185004.
14. DRAINAGE EASEMENT as described on that certain Warranty Deed as filed for record in the
office of the Recorder of Valley County, Idaho on February 26, 1992 as Instrument No. 185990.
15. UNDERGROUND POWER LINE EASEMENT to Idaho Power Company as filed for record in the
office of the Recorder of Valley County, Idaho on January 16, 1996 as Instrument No. 215904.
16. VACATION AND RELEASE OF EASEMENTS as filed for record in the office of the Recorder of
Valley County, Idaho on March 3, 2000 as Instrument No. 246099.
(Continued)
STEWART TITLE
0013 GUARANTY COMPANY
Page 3
` t I
Attached to and made a part of Stewart Title Guaranty Company Policy No. 0-9993-1397262
Continuation of Schedule B
17. EASEMENT AGREEMENT as filed for record in the office of the Recorder of Valley County,
Idaho on March 3, 2000 as Instrument No. 246100.
18. EASEMENT AGREEMENT as filed for record in the office of the Recorder of Valley County,
Idaho on March 3, 2000 as Instrument No. 246101.
19. EASEMENT AGREEMENT as filed for record in the office of the Recorder of Valley County, Idaho
on March 3, 2000 as Instrument No. 246102.
Page 3B
STEWART TITLE
203A GUARANTY COMPANY
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CONDITIONS AND STIPULATIONS Continued
(continued and concluded from reverse side of Policy Face)
7. DETERMINATION,EXTENT OF LIABILITY AND COINSURANCE. (b) When liability and the extent of loss or damage has been definitely fixed in
This policy is a contract of indemnity against actual monetary loss or damage accordance with these Conditions and Stipulations, the loss or damage shall be
sustained or incurred by the insured claimant who has suffered loss or damage by payable within 30 days thereafter.
reason of matters insured against by this policy and only to the extent herein described. 13. SUBROGATION UPON PAYMENT OR SETTLEMENT.
(a) The liability of the Company under this policy shall not exceed the least of: (a) The Company's Right of Subrogation.
(i) the Amount of Insurance stated in Schedule A;or, Whenever the Company shall have settled and paid a claim under this policy,all
(ii) the difference between the value of the insured estate or interest as right of subrogation shall vest in the Company unaffected by any act of the insured
insured and the value of the insured estate or interest subject to the defect, lien or claimant.
encumbrance insured against by this policy. The Company shall be subrogated to and be entitled to all rights and remedies
(b) In the event the Amount of Insurance stated in Schedule A at the Date of which the insured claimant would have had against any person or property in respect to
Policy is less than 80 percent of the value of the insured estate or interest or the full the claim had this policy not been issued. If requested by the Company,the insured
consideration paid for the land,whichever is less,or if subsequent to the Date of Policy claimant shall transfer to the Company all rights and remedies against any person or
and improvement is erected on the land which increases the value of the insured estate property necessary in order to perfect this right of subrogation. The insured claimant
or interest by at least 20 percent over the Amount of Insurance stated in Schedule A, shall permit the Company to sue, compromise or settle in the name of the insured
then this Policy is subject to the following: claimant and to use the name of the insured claimant in any transaction or litigation
(i) where no subsequent improvement has been made, as to any partial involving these rights or remedies.
loss,the Company shall only pay the loss pro rata in the proportion that the amount of If a payment on account of a claim does not fully cover the loss of the insured
insurance at Date of Policy bears to the total value of the insured estate or interest at claimant, the Company shall be subrogated to these rights and remedies in the
Date of Policy;or proportion which the Company's payment bears to the whole amount of the loss.
(ii) where a subsequent improvement has been made,as to any partial loss, If loss should result from any act of the insured claimant,as stated above,that act
the Company shall only pay the loss pro rata in the proportion that 120 percent of the shall not void this policy,but the Company,in that event,shall be required to pay only
Amount of Insurance stated in Schedule A bears to the sum of the Amount of Insurance that part of any losses insured against by this policy which shall exceed the amount,if
stated in Schedule A and the amount expended for the improvement. any, lost to the Company by reason of the impairment by the insured claimant of the
The provisions of this paragraph shall not apply to costs, attorneys' fees and Company's right of subrogation.
expenses for which the Company is liable under this policy,and shall only apply to that (b) The Company's Rights Against Non-insured Obligors.
portion of any loss which exceeds, in the aggregate, 10 percent of the Amount of The Company's right of subrogation against non insured obligors shall exist and
Insurance stated in Schedule A. shall include, without limitation, the rights of the insured to indemnities, guaranties,
(c) The Company will pay only those costs, attorneys fees and expenses other policies of insurance or bonds,notwithstanding any terms or conditions contained
incurred in accordance with Section 4 of these Conditions and Stipulations. in those instruments which provide for subrogation rights by reason of this policy.
8. APPORTIONMENT. 14. ARBITRATION
If the land described in Schedule A consists of two or more parcels which are not Unless prohibited by applicable law, either the Company or the insured may
used as a single site,and a loss is established affecting one or more of the parcels but demand arbitration pursuant to the Title Insurance Arbitration Rules of the American
not all,the loss shall be computed and settled on a pro rata basis as if the amount of Arbitration Association. Arbitrable matters may include, but are not limited to, any
insurance under this policy was divided pro rata as to the value on Date of Policy of controversy or claim between the Company and the insured arising out of or relating to
each separate parcel to the whole,exclusive of any improvements made subsequent to this policy,any service of the Company in connection with its issuance or the breach of
Date of Policy,unless a liability or value has otherwise been agreed upon as to each a policy provision or other obligation. All arbitrable matters, when the Amount of
parcel by the Company and the insured at the time of the issuance of this policy and Insurance is$1,000,000 or less shall be arbitrated at the option of either the Company
shown by an express statement or by an endorsement attached to this policy. or the insured. All arbitrable matters when the Amount of Insurance is in excess of
9. LIMITATION OF LIABILITY. $1,000,000 shall be arbitrated only when agreed to by both the Company and the
(a) If the Company establishes the title, or removes the alleged defect, lien or insured. Arbitration pursuant to this policy and under the Rules in effect on the date the
encumbrance,or cures the lack of a right of access to or from the land,or cures the demand for arbitration is made or, at the option of the insured,the Rules in effect at
claim of unmarketability of title,all as insured,in a reasonably diligent manner by any Date of Policy shall be binding upon the parties. The award may include attorneys'
method,including litigation and the completion of any appeals therefrom,it shall have fees only if the laws of the state in which the land is located permit a court to award
fully performed its obligations with respect to that matter and shall not be liable for any attorneys' fees to a prevailing party. Judgment upon the award rendered by the
loss or damage caused thereby. Arbitrator(s)may be entered in any court having jurisdiction thereof.
(b) In the event of any litigation, including litigation by the Company or with the The law of the situs of the land shall apply to an arbitration under the Title
Company's consent,the Company shall have no liability for loss or damage until there Insurance Arbitration Rules.
has been a final determination by a court of competent jurisdiction,and disposition of A copy of the Rules may be obtained from the Company upon request.
all appeals therefrom,adverse to the title as insured. 15. LIABILITY LIMITED TO THIS POLICY;POLICY ENTIRE CONTRACT.
(c) The Company shall not be liable for loss or damage to any insured for liability (a) This policy together with all endorsements, if any, attached hereto by the
voluntarily assumed by the insured in settling any claim or suit without the prior written Company is the entire policy and contract between the insured and the Company. In
consent of the Company. interpreting any provision of this policy,this policy shall be construed as a whole.
10. REDUCTION F INSURANCE;REDUCTION OR TERMINATION OF LIABILITY. (b) Any claim of loss or damage,whether or not based on negligence,and which
All payments under this policy,except payments made for costs, attorneys'fees arises out of the status of the title to the estate or interest covered hereby or by any
and expenses,shall reduce the amount of the insurance pro tanto. action asserting such claim,shall be restricted to this policy.
11. LIABILITY NONCUMULATIVE. (c) No amendment of or endorsement to this policy can be made except by a
It is expressly understood that the amount of insurance under this policy shall be writing endorsed hereon or attached hereto signed by either the President, a Vice
reduced by any amount the Company may pay under any policy insuring a mortgage to President, the Secretary, an Assistant Secretary, or validating officer or authorized
which exception is taken in Schedule B or to which the insured has agreed,assumed, signatory of the Company.
or taken subject,or which is hereafter executed by an insured and which is a charge or 16. SEVERABILITY
lien on the estate or interest described or referred to in Schedule A,and the amount so In the event any provision of the policy is held invalid or unenforceable under
paid shall be deemed a payment under this policy to the insured owner. applicable law,the policy shall be deemed not to include that provision and all other
12. PAYMENT OF LOSS. provisions shall remain in full force and effect.
(a) No payment shall be made without producing this policy for endorsement of 17. NOTICES,WHERE SENT.
the payment unless the policy has been lost or destroyed,in which case proof of loss or All notices required to be given the Company and any statement in writing
destruction shall be furnished to the satisfaction of the Company. required to be furnished the Company shall include the number of this policy and shall
be addressed to the Company at P.0.Box 2029,Houston,Texas 77252-2029.
STEWART TITLE
GUARANTY COMPANY