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GI?ARANTEf: CO\'DITIO\S A\D STIPU�,.il0\5
<br /> FOR USE\\"'17"H PORil15\C'�}IS A;:D 1\'-35+_
<br /> GUARANTEG CONDITIONS AND STIPULATIONS
<br /> 1. DC•PINITION OF T[R\IS amnunt��f thi•Guar.mtcc ur, i( d s Guar:miec is issucd (or the bcnefic
<br /> The(ollnwing terms ahrn used in this Guaranter mean: �d a hnldcr o(a mort�a�;e,ihc Comp�np�hall hacr the option ro purchase
<br /> (a) "land'l Thr land described, specifi<ally ur hy m(ercnce, in this �hr iiidrbteJness secured bp saiJ m��rt�agr. Such purchase, payment or
<br /> Guanntec and improremems aRxed iherem uhich bp law'cnm ��ndcr of paymrnt nf the full amuum of the Guaran«�e shall rermmate
<br /> stitute re�l propetq�: all liahility��f Ihr Compan}'hertundrr. In the ecent a(ter notice o(daim
<br /> hu been grccn tn thr Cnmpany by the Assured the Cnmpanp oflers ro
<br /> (b) "public remrJs": Thnse records which impam m�stmcticr nu- purchasr saiJ indrhicdn:ss,thr a anrr nf such inJebiedness shall trans(er
<br /> tice o(mauers relating to saiJ land; and assi};n miJ inJebtedness and the mnngage srcurin�; ihe same ro the
<br /> (cl "daie": The eRttGve Jatc: Compang upun papmeni ut thr purthase prire.
<br /> (d) "thc Asscred": llie partp or par�ics namrd as the Asmrrd in
<br /> this Guaramee, or in a supplemental writin�; ezccutcd by the G. LI\tll'A7"ION OP LIAIiILITI'—PAl'\IENT OF LO55
<br /> Cnmpan�; �a) The liabilitp nf dir Cnmpan}�undcr ihis Guannlre shall be lim�
<br /> (c) "mortpage": Afnrtgage,dced o(tmst,trust dceJ,or�nher secur� ���J ro the amoum o(actual loss sustained by the Assured Ixnuse
<br /> ity inslrwnenL ���reliancc up m dx assuranms hcrrin set fnrth,but in no event
<br /> shall such liability rxceeJ the amount n( ihe liability stated on
<br /> ?. L•XCLUSIONS FRODI COVCR9GL OP 1'HIS GUARAN7'GC the(.:cc pagc hcrco(.
<br /> The G�mpany assw.;es nn liahiliry� (nr Inss m damage b}' reasnn uf (b) The Cnmpany will pap all cusis imposed upon ihe Assurcd in
<br /> �he fnlluain�: litigatiun carricd nn bp the Cumpany fnr the Assured, and all
<br /> (a) Taxes ur asscssmrnls whidi arc nnt shown as ezistin�; licns by cosn anJ auome)'s (ces in litiga�inn cartird on hy thc Assured
<br /> the records o( any laxia; aulhoritp that leries laxcs ur assess- W'ith the wriven authurizatinn nf thc Company�.
<br /> ments on real pmperp�or hy ihe public remrds. (q No claim inr dama�;es shall arisc nr be maimainable under ihis
<br /> (b) UnpatenteJ minin�;daims;resercaiinns or ezcep�ions in patents Guar�mec (1) if �he Cumpany aher h�ving remived notice oE
<br /> nr in Acis autbnrizinp the issuanm iherrn(; water rights,claims an allrgeJ defrc4 licn ur encumbrance noi shoan as an Exap�
<br /> or tit�e ro water. tinn or awdudeJ hercin remnves sulh de(ecq lien or encumbtance
<br /> (<) Tide ro an}• pruperry• begonJ the lines nf the IanJ eapressly u'�thin a rensnnaMe time a(cer mceipt u(such notice,nr (2) for
<br /> descrihed in the drscriptinn sc� (orih in t6e Guaranlre, or lide ���h����P�'��luntarilp assumrd bp ihe AssumJ in setdinq any daim
<br /> tn sueets, mads, arrnucs, lanes, u�ays ur u�atenvays on whidi ��suit widmut a'nucn consent nf the Compane.
<br /> such land abuts,nr Ihr right in mainlain ihercin rudts, tunncls, (d) All pa}'ments undet this Guarantee,except(nr anomeys' (ees as
<br /> ramps or any nther stmuure nr imprm'emrnq nr any ri}�his or p����'�drd for in c:ra�;nph((6) heraY�f,shall redum the amount
<br /> easemcn�s ihcrcin unless sudi prnpert}•, riphis ur easrmcnts arr ��f ihe liabiliry� hrrcunJer prn tanm, and nn pa}•ment sh�ll be
<br /> expressl}�and specifi<all�� set(urth in said dexriptiun. made withnut praducing this Guarantee for indorsemem o(such
<br /> (d) Defecis, liens,encumbrances, aJverse daims aJ;ainsl tSe tide as p�}'ment unless the Guanntee be lost nr destroyed, in which
<br /> guarantmd or ntlirr maiters (I) creaied, su(I'ered, assumed or ��se prouf o( wch Iau or destructinn shall be fumished ro �he
<br /> a�recJ to by one nr more o(ihe AssureJ;or (2) resultin�;in nu utisfacUon uf Ihe Cumpany.
<br /> lun tn ihe Assumd (e) \Vhen liability has bccn de(nimly fized in aaordanm wi�h �he
<br /> couditions nf this Guarantce,the lost m damage shall be payable
<br /> ;. PROSECUTION Of ACTIONS �vi�hin ihirq� Jay�s iherca(tcr.
<br /> (a) Thc G�mpany shall havc thc riFhl at its own rast ro institwe
<br /> and pmserutc anp aninn nr prnrecd''n�;nr Jn:my uthrr aa which �. `���HOGA7lON UPON PA1'TIGNT OR SH7"CLET[GNT
<br /> in i1s opiniun may be necessap�or Jesirable tn esiablish ur con� U'he�ever the Cumpanp shall haee setded a daim under ihis Guaran[tt,
<br /> firm the matters herein guaranteed; and �he Cnmpany may take all ri�;ht n(subrngation shall vest in ihe Company�unaf�ecteJ by any act
<br /> any apprnpriate aainn w.dcr the�erms u(thisGuarsm:�r whethrr uf�he AssureJ,and it shall bc subrogared tu and br entided ro all riqhts
<br /> or nnt it shall bc liahle thereunJrr anJ shall not thcrebp mrcede and remeJies ahich ihe Assured x�ould harc had aFainst any person nr
<br /> liability ur wvice any prnrisiun herm(. propeny in rcspe<t in such daim had this Guarantee m� been issued.
<br /> fb) In all cases aLcre the Cnmpnn{�Jnes so ins�itute and prnsecute If the paymrm ducs nnt tuc,r thc loss uf the Asmred,the Company shall
<br /> anp attion or proreedinp,dm Assured sSall permii the Gimpmp bc subm�;mcd ro surh riHhts and remeJies in ihe pmportion whith said
<br /> w usr,a: its opti��n, thr namc n(ihr Assurcd (nr such purpnsc. pa}'ment bcars tu �hc amount nf said loss. 7'he Aswred i( requested 6y
<br /> IX'hrnecer requcstcxi bp the fnmpan}',�he Assured shall pive th� the Cumpan�•, shall trans(cr to ihe Compan}� al! rights and remedies
<br /> Compan}• all reasunahle aiJ in prnxcwing tuch anion nr pru- i,4ainst any persnn or pruperry� nrcrssap� in nrJer ro perfect such right
<br /> crrJin�;,and the Cnmpany shall rrimburse ihr AswreJ fnr any n( subrngation, anJ shall permit ihe Cnmpanp tn use the name nf ihc
<br /> ezpense so incurred. Assured in�np innsactinn ur liligmion incalcing mch rights nr remedies.
<br /> a. NOl'ICG OF I.OSS—'.I�Ii7'Al'ION O!' ACTION tt. GLIARANTL[ ENTIRF. CON7'RACT
<br /> A sta�rment in wri�inF of any loss or damage (or which it is claimed Any actinn ur utinns nr riFh�s of actinn iha� ihe Assured may have or
<br /> ihe Gnnpan�• is liablc unJcr ihis Guuranter shall be furnishrd m the map hrin}�,a�;ainst d�c Cnmpany arisin�;out nf thc subjen ma�ter hercnf
<br /> Compan�• within sixry� days a(tcr such Inss ��r Jnna,�c shall ha.e been mm: be eued un the proeisions o( this Guaranire.
<br /> determined.aud nu ri,�ht n(aaiun shall ai�cme m the Assurrd under ihis No provisinn nr cunJi�inn n(this Guaranice can be waired or changed
<br /> Guarantex until thiny da��s iher xud� statement shall hacc !x•en fur .
<br /> nished,and no recnveq�shall be haJ hy the Assured imder this Guarantee ezcept by'a wn�in�;endursed or attached here�n signed bp the President,
<br /> unless acliun shall be cnmmenreJ Ihrrenn within twn}'ears a(ter expira� a Vice Pmsident,Ihe Secrrtary,an Assistant Setrctary•or olher�:ilidating
<br /> tinn �f said ihirty day period. Pailu�e io (urnish mch stammcnr nf Inss ��Ihccr uf thc Cnmpanp.
<br /> or dama�;e ur tu cummence mch aclinn within the iime hereinbefnre �
<br /> spe<ificJ, shall be a conc6�sice bar a�ainst maintenan�r b}' thr Assured 9� �011CLS,\C'HLRIi 5[NT
<br /> n(any actinu undcr this Guaranicn All noticcs rcquireJ ro br gicen thc Company and any snremrnt m
<br /> writin} rcquireJ m be furnishcd the Compmq shall bc aldressed m it,
<br /> 5. OPTION TO PAl'. Sf:T"TI.f: OR COr1PROnfISC CLAI�IS at ihr oRic whidi issued this Guaranrce.
<br /> Thc Companp shull Incc ihe optinn io pap o�setdc ur cnmpromisc fnr
<br /> nr in the name u( ihr Assured any daim which cuuld result in loss ia 10. The fee specificd on the(ace nf ihis Guarantee is the ta�al fee(ar tide
<br /> �he Assurrd within thc cnrrragc nf ihis Guanntec, nr h� pap thc (ull scuch anJ cxaminatinn and(nr this Guarantce.
<br /> 1'arm Kn.\C'.}5; ]�15.91
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