Filice Family Estate (15)
"
6
Ul
uJ
U-
o
Z
10688433
Fi!: .,!. ')i( K;;'i'QfJD
~ T n '1'>0. IV ,\
/,: .,[QUEST OF
CJIl Of GILBOY
OCT 11 3 36 FH '9(J
//5'/
'~ I
NO FEE PER GC SEC 27383
Recording Requested by:
Jk Susanne E. Steinmetz, City Cler
I City of Gilroy
( 7351 Rosanna Street
Gilroy, CA 95020
\
,k
Susanne E. Steinmetz,CityClk
City of Gilroy
7351 Rosanna Street
Gilroy, CA 95020
r-
(.II
S/';.;~t; \ ; ~
LI\U i v:,.;/C;YNlY /
. l'. j, P, 1:
HECOHDEH
.."
;:p.
1..;')
I""'l
-
........
eN
\.0
GRANT OF EASEMENT
, ..'~
This Agreement made this /C day of OC:;:, 1990, by and between the City of Gilroy, a
California Municipal Corporation, hereinafter referred to as "City" and Filice Family Estate, a
California Limited Partnership, hereinafter referred to as "Filice".
RECITALS:
WHEREAS, City is the owner of certain real property legally described on Exhibits A-1
and A-2 and shown on Exhibits B-1 and B-2 attached hereto and hereinafter collectively
referred to as the "Servient Tenement";
WHEREAS, Filice is the owner of certain real property legally described on Exhibits C-1
and C-2 and also shown on Exhibits B-1 and B-2 attached hereto and hereinafter collectively
referred to as the "Dominant Tenement"; and
WHEREAS, City is willing to grant to Filice an easement as hereinafter described;
NOW, THEREFORE, it is agreed as follows:
1. Grant of Easement. In connection with the urban development of the Dominant
Tenement, City shall reasonably provide such easements as may be necessary for storm drains,
water and sewer lines and other utilities on, under, or across the Servient Tenement or portions
thereof, in locations to be mutually agreed upon, provided that said utilities shall be paid for and
installed in accordance with City policies and standards then in effect and that such utilities do
not unreasonably interfere with the City's use of the Servient Tenement.
2. Entire Agreement. This instrument contains the Entire Agreement between the
parties relating to the rights herein granted and the obligations herein assumed. Any oral
representations or modifications concerning this Agreement shall be of no force and effect,
except in a subsequent modification, in writing, signed by the party to be charged.
3. Binding Effect. This instrument shall bind and inure to the benefit of the
respective heirs, personal representatives, successors and assigns of the parties hereto.
IN WITNESS WHEREOF, the parties hereto have executed this Agreement on the day and
year above written.
THE CITY OF GILROY, A
MUNICIPAL
.
B
I
BY:
BY:
.
. ,
I
PARTNERSHIP ACKNOWLEDGMENT
,
State of (!~IU()'" }
Countyof.j~ (}1tXA.LL- 55.
7130 -e
..~_.
OFFICIAL SEAL
GLORIA E GILLElAND
NOTARY PUBliC - CAUFor,,\j',0,
SANTA CLAR,' COUNTY
_~Y_~~::~~~j:e:~I1~Y,29, 1:9~
l51lPAGE
NO, 203
On this the -Lh-~ay of rJC ~ 19~ before me,
~t1' f &!hJelAldJ
the undersigned Notary Public, personally appeared
flw.tn.J;H'~.A ~it4J)j,u~{A~~
~erSOnallY known to me
o proved to me on the basis of satisfactory evidence
to be the person(s) who executed the within instrument on behalf of the
partnership, and acknowledged to me that the partnership executed it.
WITN ESS my hand and official seal.
NATIONAL NOTARY ASSOCIATION. 23012 Ventura Blvd, . P,O, Box 4625 . Woodland Hills, CA 91364
-' ' ,~,:;;:,~,., '-
"_'_'..4""--"~_"'.'.
.~,~--;.
..-/
L 51 , PAGE , 14 ,
EXHIBIT, A-l
/'
DESCRIPTION OF 15.99 ACRES FOR CITY OF GILROY:
BEING a portion of Ranchlot 11 as shown on Map No. 7
accompanying the Final Report of the Referees in the Las Animas
Rancho Partition Suit, Action No. 5536 had in the Superior
Court of the State of California, in and for the County of Santa
Clara, and being more particularly described as follows:
BEGINNING at a point in the centerline of Mesa Road at the
southwesterly corner of that certain 28.807 acre parcel of land
shown on Record of Survey Map filed for record on May 22, 1962
in Book 147 of Maps at page 21, Records of Santa Clara County,
and running thence along the southerly line of said parcel
N.88002~E. 248.91 feet and S.79043~E_ 525.00 feet to an angle
point in said line; thence leaving said line S.8057~5S"W.
968.77 feet; thence N.84036~48"W. 535.69 feet to a point in the
westerly line of Mesa Road as shown on Record of Survey Map
filed for record on July 8, 1966 in Book 211 of Maps at page
53, Records of Santa Clara County; thence along said westerly
line N.10053~W. 193.00 feet and N.20033~W. 355.00 feet to the
southeasterly corner of Parcel "C" as shown on Parcel Map filed
for Record in Book 517 of Maps at pages 48 and 49, Records of
Santa Clara County; thence along the easterly line of said
Parcel "C" N.16006~E. 201.85 feet and N.405S"E. 277.00 feet to
the point of beginning, and
CONTAINING THEREIN 15.99 acres, more or less.
RECORDER'S MEMO
FAINT WRITING, TYPiNG, CARBON
COPIES OR DOT MATRiX PRINTERS
MAKE POOR PHOTOG~PHIC RECORD
,
L 5 I t PA SE I 7 4 2
,,~.
-",""""
EXHIBIT A-2
DESCRIPTION OF 29.78 ACRES
FOR CONVEYANCE TO THE CITY OF GILROY
BY
FILICE FAMILY ESTATE
BEING a portion of Parcel 3 as shown on Parcel Map filed for
record in Book 496 of Maps at pages 25 and 26, Records of
Santa Clara County, California, and being also a portion of
that certain 50.689 Acre Parcel of Land conveyed to Santa Clara
Valley Water District as a flood easement and described as
Parcel "A" in the AMENDED FINAL ORDER OF CONDEMNATION, Superior
Court Case No. 652918, copy of which is recorded in Book K942
at page 2108, Official Records of Santa Clara County, and being
more particularly described as follows:
BEGINNING at the corner common to Parcels 2 and 3 in the
centerline of Miller Avenue, as shown on said Parcel Map, and
running thence along the line common to said Parcels
N.50021"13"W. 493.94 feet, N.71051"58"W. 327.61 feet,
N.49010"46"W. 123.54 feet, N.76015"03"W. 211.94 feet,
S.89043"22"W. 58.21 feet and S.80024~29"W. 100.20 feet to the
most southwesterly corner of the Levee Easement described as
Parcel"C" in said Final Order of Condemnation; thence leaving
said common line and running along the easterly line of said
Parcel "C" N.9035~31"W. 40.00 feet; thence along a curve to
the right with a radius of 40.00 feet, from a tangent bearing
of S.80024~29"W., through a central angle of 79011"56" for a
distance of 55.29 feet; thence N.20023"35"W. 138.26 feet;
thence along a curve to the right with a radius of 360.00 feet,
through a central angle of 30059"48" for a distance of 194.76'
feet; thence along a curve to the left with a radius of 320.00
feet, through a central angle of 82000"17" for a distance of
458.00 feet; thence along a curve to the right with a radius of
400.00 feet, through a central angle of 30009~55" for a
distance of 210.59 feet; thence N.41013"52"W. 543.08 feet to
the most northeasterly corner to said Parcel "C" in the
northeasterly line of said Parcel 3; thence along said
northeasterly line S.54023~18"E. 792.80 feet, N.75020"19"E.
310.28 feet, N.62048"18"E. 232.72 feet, S.54047"13"E. 318.43
feet, S.21030"36"E. 316.66 feet, S.62000~54"E. 268.54 feet, and
S.60005"00"E. 717.40 feet to the most easterly corner to said
Parcel 3 in the centerline of Miller Avenue, as shown on said
Map; thence along said centerline and the southeasterly line
of Parcel 3 S.29017"24"W. 131.90 feet and S.35002"W. 549.23
feet to the point of beginning and
CONTAINING THEREIN 29.78 acres.
(.
~..-"f/ 9-U-7'0
L 5 I I PA GE t 14 3
EXHIBIT B-1
.
~
~
..
s-'s
;:1:
...Iei
. i
"1-:
. .-
j!" ..
"II
ir-!
. . fi
&;11
'. ,I~::
Ir
!
: . , ~
. ~.:'l ,~~
1l'j ~'~....,
.-----4'f'-~:J ~~.;'~
'.-:"'.":
,::;~:.";..
.,.~;';"";:',
'.-'.11'.""'-"
I ;"~n.."'~':,..: .
.'
City of
Gilroy
".
..
0
0
...
... I
;:;
lis ...
"'GO 0
NGO ...
.
n.
n ..
z' I 0
"'G\ C
Z
-4:a r- oO
. ..
III
.
i\ ...
.. . ...
.. Z ...
...
~ ...
~ 0
. '"
III
@
Filice
,..
.
<
'"
Z
c:
'"
---
.........
IfIt
..
0
.. :D
= \ . ,@
Z ,0 .
..,... n .
z
G\ % ..
j& \ 0 .
B 0
~ 8
." ..
c:oi ~ ..
. .
. Iii:;' k. :a '"
-4- .: -4 .
. '"
0 .-
0\ -4
III 0
n ..
% Z
~ 0
c
z
~ ..
. H ..:" --:;: ."
~I ." - "
...... Z ~
"'... .. ..
~= .. .
"'GO ~ u~
.. ' ...
~n 0
~ '"
ZG\ ~ ;: .
",:a ~ .
-4'
'--
. .
~ .
.. ....
- -
'":1 .
"
...........
;;;
..
.
..
.
,"'."
~
SANTA
.. ,.
-'.II......M"./--:
,..'~ ..~.
h~"'~'" ....;.. .~
--' -' ,0 , ....:. ., _II' """ ...
_~... .,....,'" . _",irJ' ~ e\ ,"'"
_...'" " w.
. ~<<" .....\...,.-. " ,
""~\' ,'"
.". ~)
I \:
L€r
}-;. I
,. -
. .
..
III
o
O.
TERESA
"'a
---
~
~
, ,.!J;
i
, i..,!/
~1,.
~V
'il!
jlll
'-'" 'l' '.
...
, ,f ~ ".
"
,.
It., .'
. ---..........
----
"",
"
~7rr2:
, pq.g
~.:,..n
: .1 " .. ~ ~ ,
It.. .,.. ~
I ~r' &'
I J ~'1-"
" t~T.'
Do _ ~.
. ,,"t:.. r
, .. ".
j ,::,q.
I r:;,:!' ~ 1-
, l' ~ ,'-
rod ~ :
,h -
~~.
r .
[lE!
31':
. ! r~
L' 5 1 , rn GE. 1144
EXHIBIT B-2 ..
~.
'r
:1
'I
J
,
I
~
~ 3@
In' rt~
o ......
c .
~ _.-
-c 10
,..
,
~. - (~.
~f)1 ::
~,
~ '
. . .
: . , :
, ...
, ::
. , 0
" ,.
~,
... '"\.
>> \,
Z ,
c~; b; l
~,.; J
.,.'; ~'
, ~
:! .,
:~ ~.!
;., n ~..
::.. 1-" ~:
~.Q' ',;
I-' '. I
~ g, j:: l ~
'< .
~ :
; 7@ ~
.,1 :
, ~ . ~
.i-Af.t?--.II! ."
if Ie. ~ ,,.,
~ - o. "
..., .., Q! .
\..~ ..
... ;.h;
:1
Q\
\V
^
",4
4
:to ~.
~ 4+
",
;t
... 4~
,,+
Q~
4'b
~
,."
.~ ..~
ij
'I
-,
j
1
'J
;.,
i
,
"I
.
."
~~~
'i
.,
'1
~1
.:i
.~,:
":1
, ~i
~
,
, ,r
"Z
/
r
,
{"
..
n
,.
~
>>
'@
, '-
r;t .. ,. ';"
H:r~
~',~ :;,~ ';'
.~
00 ,'. :,
CD~ '.'
"
':~
8 n
I
t
m.. "
... "I
I
~ ~t. ~. ; ..'
RECORDER'S MEMO
FAINT WRITING, TYPING, CARBON
COPIES OR OOT';'; fAlX PRINTERS
MAKE POOR PHOTOGRAPHIC FiECORD
i' ';"
.. : ;.:' .
; "..
L 5 I I PAGE 1 74 5
r
EXHIBIT C-l
That certain real property situated in the City of Gilroy, County of
Santa Clara, State of California, described as follows:
All of Parcels A, B, C, D, and E as shown upon that certain map entitled
"Parcel Map Divisions of Parcels 1 and 2, Book 496 of Maps, Pages 25 and
26, portion of Las Animas Rancho", which Map was filed for record in the
Office of the Recorder, County of Santa Clara, State of California, on
September 16, 1983, in Book 517 of Maps, Pages 48 and 49.
Parcel 3, as shown on the parcel map, filed February 17, 1982, Book 496,
Maps, Pages 25 and 26, Santa Clara County Records.
EXCEPTION THEREFROM:
L 5 I I PA GE 1146
--
DESCRIPTION OF 29.78 ACRES
FOR CONVEYANCE TO THE CITY OF GILROY
BY
FILICE FAMILY ESTATE
BEING a portion of Parcel 3 as shown on Parcel Map filed for
record in Book 496 of Maps at pages 25 and 26, Records of
Santa Clara County, California. -and being also a portion of
that certain 50.689 Acre Parcel of Land conveyed to Santa Clara
Valley Water District as a flood easement and described as
Parcel "A" in the AMENDED FINAL ORDER OF CONDEMNATION, Superior
Court Case No. 652918, copy ox which is recorded in Book K942
at page 2108, Official Records of Santa Clara County, and being
more particularly described as follows:
BEGINNING at the corner common to Parcels 2 and 3 in the
centerline of Miller Avenue, as shown on said Parcel Map, and
running thence along the line common to said Parcels
N .50021"13"W. 493.94 feet, N. 71 051" 58"W. 327.61 feet.
N.49010"46"W. 123.54 feet, N.76015-03"W. 211.94 feet,
S.89043"22"W. 58.21 feet and S.80024"29"W. 100.20 feet to the
most southwesterly corner of the Levee Easement described as
Parcel"C" in said Final Order of Condemnation; thence leaving
said common line and running along the easterly line of said
Parcel "C" N.9035"31"W. 40.00 feet; thence along a curve to
the right with a radius of 40.00 feet, from a tangent bearing
of S.80024"2S"W., through a central angle of 79011"56" for a
distance of 55.29 feet; thence N.20023"35"W. 138.26 feet;
thence along a curve to the right with a radius of 360.00 feet,
through a central angle of 30059"48" for a distance of 194.76
feet; thence along a curve to the left with a radius of 320.00
feet, through a central angle of 82000"17" for a distance of
458.00 feet; thence along a curve to the right with a radius of
400.00 feet, through a central angle of 30009"55" for a
distance of 210.59 feet; thence N.41013"52"W. 543.08 feet to
the most northeasterly corner to said Parcel "e" in the
northeasterly line of said Parcel 3; thence along said
northeasterly line S.54023"lS"E. 792.S0 feet. N.75020"19"E.
310.28 feet, N.6204S"lS"E. 232.72 feet, S.54047"13"E. 318.43
feet, S.21030"36"E. 316.66 feet, S.62000"54"E. 26S.54 feet, and
S.60005"00"E. 717.40 feet to the most easterly corner to said
Parcel 3 in the centerline of Miller Avenue, as shown on said
Map; thence along said centerline and the southeasterly line
of Parcel 3 S.2s017"24"W. 131.90 feet and S.35002"W. 549.23
feet to the point of beginning and
CONTAINING THEREIN 29.78 acres.
'-
,~""/ Q-2.4-7'O
--
L 5 1 1 PAGE 11'+1
ORDER':(. 295957
EXHIBIT C-2
ne land referred to herein is situated in the State
;f California, County of Santa Clara, (and is described as
follows)
Portion of Ranch Lot Number 11, as shown upon Map No.7
accompanying Report of Commissioners in Henry Miller, et aI,
plaintiffs vs. Massey Thomas, et aI, Defendants, in the
superior Court of the State of California in and for the
county of Santa Clara, showing allotments made in the
partition of the Rancho Las Animas, and more particularly
described as follows:
BEGINNING at a point on the Westerly line of Las Animas
Ranch Lot Number 15, distant thereon North 1482.80 feet from
a 4" x 4" post marked M.T.M. 2 set at the Southwest corner
of said Ranch Lot Number 15 said point of beginning being
the Northeastern corner of that certain 54.26 acre tract of
land described in the Deed from Miller & Lux Incorporated, a
corporation, to L.H. Clar, dated April 19, 1933 and recorded
April 8, 1935 in Book 723 of Official Records, page 529,
Santa Clara County Records; running thence along the
Northerly line of said 54.26 acre tract North 840 West
2399.40 feet to a point on the Easterly line of that certain
5048.62 acre tract of land described in the Deed from M.E.
Thomas to William S. Tevis, Jr., dated Febraury 24, 1927,
recorded February 28, 1927 in Book 299 of Official Records,
page 536; thence along the Easterly line of said 5048.62
acre tract described in said Deed to Tevis the following
courses and distances: North 60 57' East 1058.78 feet to a
4" x 4" post marked 19 North 100 33' West 410 feet to a 4" x
4" post marked 20 North 200 33' West 355 feet to a 4" x 4"
post marked 21 set in the Westerly right of way line of 40
foot road and at the Northeastern corner of 5048.62 acre
tract of land described in the above mentioned Deed to
Tevis; thence leaving the Easterly line of said 5048.62
acre tract and running North 160 04' East 201.85 feet to a
3/4" pipe in the center line of the aforementioned 40 foot
road as the same is described in the Deed from Miller & Lux,
Incorporated, to County of Santa Clara, dated October 21,
1937, recorded March 8, 1938 in Book 866 Official Records,
page 236, Santa Clara County Records; thence along the
center line of said 40 foot county road North 40 59' East
277 feet to the Southwestern corner of that certain 28.06
acre tract of land described in the Deed from Miller & Lux
Incorporated, to William FunkIer dated July 6, 1920 and
recorded July 12, 1920 in Book 512 of Deeds, page 589, Santa
Clara County Records, thence along the Southerly line of the
28.06 acre tract described in said Deed to FunkIer the
following courses and distance:
2
"?
f((
\
1:( L 511 PAGE 11~' 8
North 880 02' East 248.81 feet South 790 43' East 525 feet
south 720 23' East 202 feet, South 82@ 43' East 175 feet,
south 430 38' East 375 feet, South 790 38' East 318.71 feet,
south 580 23' East 155 feet, South 660 03' East 372.90 feet,
south 520 32' East 252.00 feet to a point in the Westerly
line of Las Animas Ranch Los Number 15: thence leaving the
southerly line of aforementioned 28.06 acre tract and
running along the Westerly line of said Las Animas Ranch Los
Number 15 South 1622.08 feet to the point of beginning.
Excepting therefrom so much thereof as lies within the
bounds of that certain 40 foot road conveyed by L.H. Clar,
et aI, to the County of Santa Clara, by Deed dated October
21, 1937 and recorded March 8, 1938 in Volume 866 of Official
Records, page 236, Records of Santa Clara County.
Also excepting therefrom the 10 acres granted to George J.
Duffin, et aI, by Deed recorded September 28, 1979 in Book
E826 of Official Records, page 99.
EXCEPTING THEREFROM:
9-12-90 SJV2 12A
808-19-004
67009
td/gi/tf
A 803-60-4
N/l
3
.._ .::.,-_: . "~:'-:7 :.:,~ ...
" '
.......,.......
L 5.1 I PAGE 1149
.
--,....
/
.,/
,.
/-
DESCRIPTION OF 15.99 ACRES FOR CITY OF GILROY:
BEING a por~ion of Ranchlo~ 11 ae shown on Ma~ No. 7
accompanyina the Final Repor~ of ~he Refer~e$ in the Las Animas
Rancho Partition Suit, Action No. 5536 had in the Su~erior
Cour~ of the State of California. in and for the C~unt7 of Santa
Clara, and being mor~ par~icularly desc~ibed ae followe:
BEGINNING at a point in the centerl~e of Mesa Read at the
southwesterly corner of that certain 28.807 acr~ parcel of land
shown on Record of Survey Ma~ filed for r~cord on May 22, 1962
in Book 147 of Mape at page 21. Records of Santa Clara County,
and running thence along the sou~~erly line of said parcel
N.88.02~E. 248.91 fee~ and S.79.43~E. 525.00 feet to an angle
po in1: in said line; thence leaving said line S. 8. 57 ~ 59"W .
968.77 feet; thence N.84.36~48"W. 535.69 feet to a point in the
weeterly line of Meea Road as shown on Record of SurveY' Map
filed for record on July 8, 19S5 in Book 211 of Maps at pace
5~, Records of Santa Clara CountY'; thence alona said westerly
line N.10.S3.W. 193.00 feet and N.20.3S.W. 355.00 feet to the
southeas1:erly corner of Parcel "C" as shown on Parcel Map filed
for Record in Book 517 of Ma~s at pages 48 and 49, Records of
Santa Clara Count7; thence along the easterly line of said
Parcel "C" N.1S.0S.E. 201.85 fee~ and N.4.59~E. 211.00 feet to
the point of beginning, and
CONTAINING THEREIN 15.99 ac~es, more or less.
RECORDER'S MEMO
FAINT WRITIN~ TYPING, CARBON
COPIES OR DOT MATRIX PRINTERS
MAKE POOR PHOTOGRAPHIC RECORD
,
.. : t >I
t Sf tPAiGE t 156
.. 1
CERTIFICATE OF ACCEPTANCE OF CONVEYANCE TO THE CITY OF GILROY
BY' FILICE FAMILY ESTATE, A CALIFORNIA LIMITED PARTNERSHIP
I, the City Administrator of the City of Gilroy, do hereby certify
that pursuant to the authority given by Resolution No. 83-55, adopted by the
Council of the City of Gilroy on the 18th day of July, 1983, at a regular
meeting of said Council, a certified 'copy of which resolution is on record
in the office of the County Recorder of the County of Santa Clara, State of
California, in Book and Page 7755622, I, as said City Administrator, do hereby
accept on behalf of the said City the conveyance to the City of Gilroy by ___
Filice Family Estate, A California Limited Partnership
of the premises described in the attached"
conveyance dated the 16th day of
October
, 19 ,90 , and that the
said City of Gilroy consents to the recordation of said conveyance.
IN WITNESS WHEREOF, I have hereunto set my hand this
16th
day
of October
. .
of the City of Gilroy
PremiumS 6,226.00
Schedule A
File No. 29 5 9 5 7 & 29595 8
Policy No. CY 93078
Date of Policy
September 27, 1990at
8:00 a.ID.
Amount of Insurance S 3, 092 , 000 . 00
1. Name of Insured:
THE CITY OF GILROY, a California Municipal Corporation
MINNESOTA
TITL: .6
2. The estate or interest in the land which is covered by this policy is:
A FEE
3. Title to the estate or interest in the land is vested in:
THE CITY OF GILROY, a California Municipal Corporation
4. The land referred to in this policy is described as follows:
If Paragraph 4 is omitted, a Schedule C, captioned the same as Paragraph 4, must be used.
See Schedule "C" Attached
TIM Form #3439
CLTA Standard Coverage 1988
This policy valid only if Schedule B is attached.
File No.
295957 &
295958
Policy No. CY 93078
EXCEPTIONS FROM COVERAGE
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:
PART I
1. Taxes or assess,l111ents 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.
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 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
the land or which may be asserted by persons in possession thereof.
3. Easements, liens or encumbrances, or claims thereof, 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. (a) Unpatented mining claims; (b) reservations or exceptions in patents or in Acts authorizing the issuance thereof; (c) water rights,
claims or title to water, whether or not the matters excepted under (a), (b) or (c) are shown by the public records.
PART II
AFFECTS PARCEL ONE:
A) Currently Assessed Taxes for the fiscal year 1990-1991 a
lien, but not yet due or payable.
1. The lien of supplemental taxes, if any, assessed pursuant
to the provisions of Section 75, et .seq. of the Revenue and
Taxation Code of the State of California.
TIM #3440
CLTA Standard Coverage 1988
CLTA Standard Coverage - 1973
PART II (Continued)
2. An easement
For
In favor of
pole line or lines
COAST COUNTIES GAS and ELECTRIC COMPANY, a
corporation
May 18, 1937 in Book 821 of Official
Records, page 339
none shown
Recorded
Affects
Reference to the record is hereby made for further particulars.
3. Terms, conditions and provisions contained in that
certain instrument entitled, "Reclaimed Water Agreement", by
and between Santa Clara Valley Water District and Filice
Family Estate, A California Limited partnership, dated
August 15, 1977 and recorded December 28, 1977 in Book D368
page 566, Official Records.
AFFECTS PARCEL TWO:
A) Currently Assessed Taxes for the fiscal year 1990-1991 a
lien, but not yet due or payable.
1. The lien of supplemental taxes, if any, assessed pursuant
to the provisions of Section 75, et .seq. of the Revenue and
Taxation Code of the State of California.
2. Right of the public to use as a roadway that portion of
the herein described premises lying within the bounds of
Miller Avenue.
3. An easement for the free flow of water over that portion
of the premises lying within the bounds of Uvas Creek and
any changes in the boundary line by natural causes or
imperceptible degrees.
4. An easement
For
Installation and maintenance of electric energy
telephone and telegraph wires
Coast County Gas and Electric Company, a corp.
May 18, 1937 in Book 821 of Official
Records, page 399
The location is not disclosed of record.
In favor of
Recorded
Affects
CL T A Standard Coverage - 1973
PART II (Continued)
5. The fact that the ownership of said land does not include
any rights of ingress or egress to or from the highway contiguous
thereto, said rights having being relinquished by Deed
Series No.
Rancho Tremont, a limited partnership
County of Santa Clara
July 24, 1972 in Book 9936, page 689, Official
Records
not shown
From
To
Recorded
6. Agreement on the terms and conditions contained therein,
for
Between
Reclaimed water agreement
Filice Family Estate, a California limited
partnership
Santa Clara Valley Water District
December 28, 1977 in Book D368, Page 556,
Official Records
and
Recorded
7. An areement to construct land development improvements,
upon the terms, vonvenants, conditions therein imposed which
shall be binding upon and insure to the benefit of the
successors in interest,
Executed by
Recorded
Filice Family Estate
February 19, 1982 in Book G6l0, page G647,
Official Records
CL T A Standard Coverage - 1973
SCHEDULE C
The land referred to in this policy is sltu~ted in the Cllunty of
State of California, and is desl:ribed as follows:
Santa Clara
City of Gilroy
PARCEL ONE:
DESCRIPTION OF 16.00 ACRES FOR CITY OF GILROY:
BEING a portion of Ranchlot 11 as shown on Map No. 7
accompanying the Final Report of the Referees in the Las Animas
Rancho Partition Suit, Action No. 5536 had in the Superior
Court of the State of California, in and for the County of Santa
Clara, and being more particularly described as follows:
BEGINNING at a point in the centerline of Mesa Road at the
southwesterly corner of that certain 28.807 acre parcel of land
shown on Record of Survey Map filed for record on May 22, 1962
in Book 147 of Maps at page 21, Records of Santa Clara County,
and running thence along the southerly line of said parcel
N.88002~E. 248.91 feet and S.79043~E. 525.00 feet to an angle
point in said line; thence leaving said line S.8055~51"W.
968.74 feet; thence N.84036~48"W. 536.29 feet to a point in the
westerly line of Mesa Road as shown on Record of Survey Map
filed for record on July 8, 1966 in Book 211 of Maps at page
53, Records of Santa Clara County; thence along said westerly
line N.10053~W. 193.00 feet and N.20033~W. 355.00 feet to the
southeasterly corner of Parcel "C" as shown on Parcel Map filed
for Record in Book 517 of Maps at pages 48 and 49, Records of
Santa Clara County; thence along the easterly line of said
Parcel "C" N.16006~E. 201.85 feet and N.4059~E. 277.00 feet to
the point of beginning, and
CONTAINING THEREIN 16.00 acres, more or less.
CL T A Standard Coverage - 1973
SCHEDULE C
The land referred to in this policy is situJted in the County of
State of California, and is described as follows: .
PARCEL TWO:
DESCRIPTION OF 29.78 ACRES
FOR CONVEYANCE TO THE CITY OF GILROY
BY
FILICE FAMILY ESTATE
BEING a portion of Parcel 3 as shown on Parcel Map filed for
record in Book 496 of Maps at pages 25 and 26, Records of
Santa Clara County, California, and being also a portion of
that certain 50.689 Acre Parcel of Land conveyed to Santa Clara
Valley Water District as a flood easement and described as
Parcel "A" in the AMENDED FINAL ORDER OF CONDEMNATION, Superior
Court Case No. 652918, copy of which is recorded in Book K942
at page 2108, Official Records of Santa Clara County, and being
more particularly described as follows:
BEGINNING at the corner common to Parcels 2 and 3 in the
centerline of Miller Avenue, as shown on said Parcel Map, and
running thence along the line common to said Parcels
N.50021~13''W. 493.94 feet, N.71051~58"W. 327.61 feet,
N.49010~46"W. 123.54 feet, N.76015.03"W. 211.94 feet,
S.89043.22"W. 58.21 feet and S.80024.29''W. 100.20 feet to the
most southwesterly corner of the Levee Easement described as
Parcel"C" in said Final Order of Condemnation; thence leaving
said common line and running along the easterly line of said
Parcel "C" N.9035.31"W. 40.00 feet; thence along a curve to
the right with a radius of 40.00 feet, from a tangent bearing
of S.80024~29''W., through a central angle of 79011~56" for a
distance of 55.29 feet; thence N.20023~35''W. 138.26 feet;
thence along a curve to the right with a radius of 360.00 feet,
through a central angle of 30059~48'' for a distance of 194.76
feet; thence along a curve to the left with a radius of 320.00
feet, through a central angle of 82000~17" for a distance of
458.00 feet; thence along a curve to the right with a radius of
400.00 feet, through a central angle of 30009~55'' for a
distance of 210.59 feet; thence N.41013~52~W. 543.08 feet to
the most northeasterly corner to said Parcel "C" in the
northeasterly line of said Parcel 3; thence along said
northeasterly line S.54023~18"E. 792.80 feet, N.75020.19"E.
310.28 feet, N.62048~18~E. 232.72 feet, S.54047~13"E. 318.43
feet, S.21030~36"E. 316.66 feet, S.62000.54"E. 268.54 feet, and
S.60005~00''E. 717.40 feet to the most easterly corner to said
Parcel 3 in the centerline of Miller Avenue, as shown on said
Map; thence along said centerline and the southeasterly line
of Parcel 3 S.29017~24"W. 131.90 feet and S.35002.W. 549.23
feet to the point of beginning and
CONTAINING THEREIN 29.78 acres.
INDORSEMENT
ITLE INSURANCE COMPANY
OF IVIINNBSOTA
a Corporation, of Minneapolie, Minnesota
Order No. 295957 &
295958
Fee: -0-
Policy No. CY 93078
The liability of the Company, exclusive of the costs which the
Company is obligated to pay under the conditions and stipulations of
said policy, shall not exceed the sum of $2,000,000.00 as to Parcel
One of said land and shall not exceed the sum of $1,092,000.00 as to
Parcel Two of said land, described in Schedule C.
This indorsement is made a part of said poicy and is subject to
the schedules, conditions and stipulations therein, except as
modified by the provisions hereof.
CLTA Form 107.1 (Revised 2-20-61)
ALTA or ALTA - Owner or Lender
-~,~
;:~1!.'l!.!})\.
,~, ,~
pr t\\\!!~I'",)",,\
'~\ SEAL)~
t,/ '- ./...~
"../IJ-:-- --~.. \~-.._-
~~~ ~.. ~ '....
'q ___ f--
~'" ,-----
Countersigned:
liTLE INSURANCE COMPANY
OF MINNESOTA
,"
President
ATTEST:
~--A~
By
Secretary
Validating Officer
lir
' ,~~ ~n en
__ :i:;i'r r c
_ .. ..~"~ ,., ~ {l ~
. ~, '!i; ;11 l ~.
I 0.0- .- I "
1 =fl:J.. . 0
::1 :.:; ji r ::a
...! !:;;.;;.rt.. ul
Or ~'ilr.Jl
. :;J;:. ~ i'. n
I~ .: 1 i if i' ",
..,. ~a:ll,,-t ~
.: t~~i.i:;j
f ~7_~l:j.~. -
,,: _'" n
I ~;~ iH ?4
~ III
or
rr
ijf
C1 ~: i
"T"o !
.. i
f
J
..
I
r
i
1
I:
i
.'
,.'
..:
'1
-,.
::
.'
.!
I !I..!!...
rr ilfH ~
~ '''if ~
-~J::~r~"
1.;' i z.. ~
1 ".J :II
- ,J i g
,r f. ~ ~
t f:~ ~
t-
,,! !'!r-l D':l
: : ""1 :. ~ 6
.fi~~~~f
.:z:a.!;"
i ;. 0 ~ : ; -:
_' n_:.f
fi {:il
I ~ ~~!!
f !::.f;"
i 'C ~;': ~
f i iP
: ~:d!
en' eel
Xl :.:=
to fi'
'" . ~
1~
:r Z
0:
, ..
- ..
r
.
en
.
z
..
o
:II
...
-
o
z
o
,.
...
o. c
"'.. :
o
N. ;
.
.."
% !
....
","
~ :
.. i
..
..
.
..
..
e
..
III
:II
o
:II
n
2
:II
-t
~
'"
III
Z
P
..
..
...
. .
n
~
r-
/II
:II
.
Z
n
%
...
o
...
II:
.
en
:II
.
Z
n
%
o
"II
.
:II
...
~
o
z -
-
en
c:
=4
. .
;; ..
:; ~
o c
o ..
o ..
" 0
.
..
IE
~
..
Z
~
...
..
..
L .
00
'" ..
z'
:> "
..
.. ..
/I -
" .
"
-.
.
.
o
~
n
=t
-<
III
Z
Ii)
Z
III
III
:II
en"
n
III
:II
:j
:!I
n
?4
III
~ S"'III
~~S-:
2,. nc
;~~;
~ ~ ..~
; ~ i-i
~ ~~,~
_:r _Q
~11.,:t
[$~[
.,~ 0 Q,O
~.e~~
ga;:~
~'< ~ n
'<oo~
" ....0"<
~.~~r
!:."~c
5'~g ~.
.. 0'-'
0."
~ '7.
.,0...
..." ::;0
~~~~
:J -.:1"0
gg~~
;!?,~~
_.1,11 to
;~:;...
oBit...
v!!. ~
, ...
..*'rZ
",0
,,~
:I':'!
'"
..."
;~.
.,.-
'!.o
"'...
"'IE
"'0
;~
,.0
0'
[~
.,.;
'<.,
"...
;'<
3~
DC
""
~-
",:r
0"
D
5~
-:r
~;J'
~;:
!!.!.
~..
\y J,
~,~
~ ~
\..-. l\.
o
""
...
%
IIl-
.. Z
-tn
. O-t
... c: %
III Z III
o -fn
"" -<-
nO::
.""
... en 0
:;j .""
OZ
:II -f Ii)
z .-
- r-
. n 21
,..0
.-<
:II-
.
~
~
()
tT;
~
'"
.."
.1>'
,..
~
"
: ~ !, ~~ ~~~ ,:,
!;-;a.:!I~ r~ ~
. ; :1' ~~; oj~ z~
_0 .0 :to~
.H~~'!:' ri~ ~
:.~ ~S-~ of"":;;
..::r 00 n:J 0
0" _ - ~o - -
" __ 0:-.3 0 ...
!l:~!.o':':"" :
;;:~:;'~Z!l, '" '"
;= :-'~Q ~ =
; t ~f' ?,~ ..
'tI :. . a': g
o _ - -." "
;.;:""~;
_1-:"00
;;;;~;:;'~a.
:7:r < -....-
:'~:~~-::'~
II' :I VI., '0 Q-
. : ;g.: i::
~.~ :0 ~ ~O'
.!i~:'~;:
; ~ ~ ;;F..c3
· o~. "l
~ ~ .
Cl~
.. '
~
,
!L"~";1
WI l ~ a. :;;'
~~!l-~'!!.
-" Q. ~ ::.. g,
a. f1' f1' ft ;.
Ol-<ft:r-'
;. ::: " i:
_. !:t .... ft
~'i~~t
.-g~~'o....o
, n 0
~ ~ ~ :I
'" a ;: ~
if. 0.,
faa'!L
8 '" 3 5'
~ 5'<1'
'I '" <I' EI
~~p.
;l'":z.g
!I g
~
,'>>
"
,
","1
...
r-
n
m
."
...
~
r-
..
m
VI
...
...
...
,m
~~
~ \"
,! ~~;.... 0
~. . C7 t"I ::t : :.
:I_a.o..:lI.
"1) 0 c.:;t :: :t it .
~ =- ;.: : ~ ;: :
~ 1 g' : ~ g :: :
..oo~:;'~
:-cr_3-'o.g~
N~"H''V:~=:
l>" :~ ~ ~ 0 -<"
....0.1..--.-;:-
D g" : ~ ~ ; ~ ~
;~~e:~:-!
~ i ~'g ;,: ~ !
; ~ i g ~ i ~. :
3 ~. ;.;- 0 : ~ :
~:!'~!.~~~
~_Q,Q..CL"
; :'~.. g : !.
-O'o!!.-<!,~
~,~:~~~:
~.:v~:7~
~ ;!. i g : :
.:>>Q,OCMc3
:;,_3.'10'-
~ ~ ~ l : ~ .i.
n D _II' -.:r
D ::I.. ~.~-
;. A~gg~
S. i ~ ;;;
:. . !
,j
J
i
.'
. I:
,
. .
r '
~.,. .:
':' .
CP"o 0'.' z
.__It! n
- !.i:~~'
. .....
: ~ ~j- ~
. ... ::II . .
.r~~:r
,-.zc..;.
= 0 i; '!..
~ ;': f ~
q:;II '" ,
j!!:;:
:~; ~
i f11
~, "
a.~;':;
.
...
:..~
< .
...
~~f:r%
i pf@
i ;1"~f~,
, s, . '. ...~.
t z..,d ~
.:l tt ii. ~_ to'
't'~ ~~ -: [.
a,:.~.i"
,~q ~
r:-,.~'L
.';? ",."
~ J ~ ;
-:. ! ~ :
. ~ !'..
I ~.~?
I.p;
.;-::;:
^
",4
4
4+ ,,~
b 4+
'"
n
o
c
Z
-4
-<
~'
~.
t
" 4.:&
')~
O~
4b
.:&
.~...,
.!
,1
~
"
'.i
~
$..111
~;!E
~ ....
if ;fl
2'"1
I'J,~.
'1: .
@
:v
~
..
..,
~
E
.
N
uo
...
N
lit
n
.
r
...
o
'"
z
.
..
_~ I
"
:;' '
:i
$" ,1 ;,-;:'
~! ~ r (.:
" .
----
~ .- ," - .
/ :
~
"-...
.~ \
"
(Continued from inside front cover)
estate or interest so acquired from an insured corporation, provided
the transferee is the parent or wholly-owned subsidiary of the insured
corporation, and their corporate successors by operation of law and
not by purchase, subject to any rights or defenses the Company may
have against any predecessor insureds; and (iii) any governmental
agency or governmental instrumentality which acquires all or any part
of the estate or interest pursuant to a contract of insurance or guaranty
insuring or guaranteeing the indebtedness secured by the insured
mortgage.
(b) After Conveyance of Title by an Insured The coverage
of this policy shall continue in force as of Date of Policy in favor of an
insured only so long as the insured retains an estate or interest in the
land, or holds an indebtedness secured by a purchase money mortgage
given by a purchaser from the insured, or only so long as the insured
shall have liability by reason of covenants of warranty made by the
insured in any transfer or conveyance of the estate or interest. This
policy shall not continue in force in favor of any purchaser from an
insured of either (i) an estate or interest in the land, or (ii) an
indebtedness secured by a purchase money mortgage given to an
insured,
(c) Amount of Insurance, The amount of insurance after
the acquisition or after the conveyance by an insured lender shall in
neither event exceed the least of:
(i) The amount of insurance stated in Schedule A;
(ii) The amount of principal of the indebtedness secured by
the insured mortgage as of Date of Policy, interest thereon, expenses
of foreclosure, amounts advanced pursuant to the insured mortgage to
assure compliance with laws or to protect the lien of the insured
mortgage prior to the time of acquisition of the estate or interest in
the land and secured thereby and reasonable amounts expended to
prevent deterioration of improvements, but reduced by the amounts of
all payments made; or
(iii) The amount paid by any governmental agency or
governmental instrumentality, if the agency or the instrumentality is
the insured claimant in the acquisition of the estate or interest in
satisfaction of its insurance contract or guaranty,
3. Notice of Claim To Be Given By Insured Claimant.
An insured shall notify the Company promptly in writing Ii) in case of
any litigation as set forth in 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 title to the estate or interest or the lien of the insured
mortgage, as insured, and which might cause loss or damage for which
the Company may be liable by virtue of this policy, or (iii) if title to the
estate or interest or the lien of the insured mortgage, as insured, is
rejected as unmarketable, If prompt notice shall not be given to the
Company, then as to that insured all liability 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
in no case prejudice the rights of any insured under this policy unless
the Company shall be prejudiced by the failure and then only to the
extent of the prejudice,
4, Defense and Prosecution of Actions: Duty of Insured
Claimant to Cooperate,
(a) Upon written request by an insured and subject to the
options contained in Section 6 of these Conditions and Stipulations,
the Company, at its own cost and without unreasonable delay, shall
provide for the defense of such insured in litigation in which any third
party asserts a claim adverse to the title or interest as insured, but
only as to those stated causes of action alleging a defect lien or
encumbrance or other matter insured against by this policy. The
Company shall have the right to select counsel of its choice (subject to
the right of such insured to object for reasonable cause) to represent
the insured as to those stated causes of action and shall not be liable
for and will not pay the fees of any other counsel. The Company will
not pay any fees, costs or expenses incurred by an insured in the
defense of those causes of action which allege matters not insured
against by this policy.
(b) The Company shall have the right, at its own cost, to
institute and prosecute any action or proceeding or to do any other act
which in its opinion may be necessary or desirable to establish the
title to the estate or interest or the lien of the insured mortgage, as
insured, or to prevent or reduce loss or damage to an insured, The
Company may take any appropriate action under the terms of this
policy, 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 Company may pursue any litigation to final determination by
a court of competent jurisdiction and expressly reserves the right, in
its sole discretion, to appeal from any adverse judgment or order.
(d) In all cases where this policy permits or requires the
Company to prosecute or provide for the defense of any action or
proceeding, an 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 Company to use, at its option, the
name of such insured for this purpose, Whenever requested by the
Company, an insured, at the Company's expense, shall give the
Company all reasonable aid (i) in any action or proceeding, securing
evidence, obtaining witnesses, prosecuting or defending the action or
proceeding, 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 of the lien of the insured
mortgage, as insured, If the Company is prejudiced by the failure of an
insured to furnish the required cooperation, the Company's obligations
to such 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 addition to and after the notices required under Section 3 of these
Conditions and Stipulations have been provided the Company, a proof
of loss or damage signed and sworn to by each insured claimant shall
be furnished to the Company within 90 days after the insured claimant
shall ascertain the facts giving 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 failure of an insured claimant to
provide the required proof of loss or damage, the Company's
obligations to such 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 additon, an insured claimant may reasonably be required
to submit to examination under oath by any authorized representative
(Continued on insert back.)
(Continued from insert front.)
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 authorized representative
of the Company, the insured claimant shall grant its permission, in
writing, for any authorized representative of the Company to examine,
inspect and copy all records, books, ledgers, checks, correspondence
and memoranda in the custody or control of the third party, which
reasonably pertain to the loss or damage, All information designated
as confidential by an insured claimant provided to the Company
pursuant to this Section shall not be disclosed to others unless, in the
reasonable judgment of the Company, it is necessary in the
administration of the claim, Failure of an insured claimant to submit
for examination under oath, produce other reasonably requested
information or grant permission to secure reasonably necessary
information from third parties as required in the above paragraph,
unless prohibited by law or governmental regulation, shall terminate
any liability of the Company under this policy as to that insured for that
claim.
6, Options to Payor Otherwise Settle Claims: Termination
of Liability
In case of a claim under this policy, the Company shall have the
following additional options:
(a) To Payor Tender Payment of the Amount of Insurance or
to Purchase the Indebtedness,
(i) to payor tender payment of the amount of insurance
under this policy 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; or
(ii) in case loss or damage is claimed under this policy by
the owner of the indebtedness secured by the insured mortgage, to
purchase the indebtedness secured by the insured mortgage for the
amount owing thereon together with any costs, attorneys' fees and
expenses incurred by the insured claimant which were authorized by
the Company up to the time of purchase and which the Company is
obligated to pay.
If the Company offers to purchase the indebtedness as herein
provided, the owner of the indebtedness shall transfer, assign, and
covey the indebtedness and the insured mortgage, together with any
collateral security, to the Company upon payment therefor,
Upon the exercise by the Company of the option provided for
in paragraph aliI. all liability and obligations to the insured under this
policy, other than to make the payment required in that paragraph,
shall terminate, including any liability or obligation to defend,
prosecute. or continue any litigation, and the policy shall be
surrendered to the Company for cancellation,
Upon the exercise by the Company of the option provided for
in paragraph alii) the Company's obligation to an insured Lender under
this policy for the claimed loss or damage, other than the payment
required to be made, shall terminate, including any liability or
obligation to defend, prosecute or continue any litigation,
(b) To Payor Otherwise Settle With Parties Other than the
Insured or With the Insured Claimant
(i) to payor otherwise settle with other parties for or in
the name of an insured claimant any claim insured against under this
.
.,
policy, 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 and which the Company is obligated to pay; or
(ii) to payor otherwise settle with the insured claimant the
loss or damage provided for under this policy, 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 and which
the Company is obligated to pay,
Upon the exercise by the Company of either of the options
provided for in paragraphs b(i) or bOil, the Company's obligations to the
insured under this policy for the claimed loss or damage, other than
the payments required to be made, shall terminate, including any
liability or obligation to defend, prosecute or continue any litigation,
7, Determination and Extent of Liability
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 to an
insured lender shall not exceed the least of:
(i) the Amount of Insurance stated in Schedule A, or, if
applicable, the amount of insurance as defined in Section 2 (c) of
these Conditions and Stipulations;
(ii) the amount of the unpaid principal indebtedness
secured by the insured mortgage as limited or provided under Section
8 of these Conditions and Stipulations or as reduced under Section 9
of these Conditions and Stipulations, at the time the loss or damage
insured against by this policy occurs, together with interest thereon; or
(iii) 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 insured lender has acquired the estate
or interest in the manner described in Section 2(a) of these Conditions
and Stipulations or has conveyed the title, then the liability of the
Company shall continue as set forth in Section 7(a) of these Conditions
and Stipulations,
(c) The liability of the Company under this policy to an
insured owner of the estate or interest in the land described in
Schedule A 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,
(d) The Company will pay only those costs, attorneys' fees
and expenses incurred in accordance with Section 4 of these
Conditions and Stipulations,
8, 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, or otherwise establishes the lien of the insured mortgage, all as
insured, in a reasonably diligent manner by any method, including
litigation and the completion of any appeals therefrom, it shall have
fully performed its obligations with respect to that matter and shall
(Continued on inside cover)