Agmt 2005 Stahl-Wooldridge Construction Co

Home

MAY-12-2005 THU 09:52 AN CITY OF SAN LEANDRO FAX NO. 5105773310 p, 14 (d) 3ltllchmg or creared subsequent to Date of Policy (excepl to the extent that this policy insured the priority of the lien of me insured mortgage over any statutory lien for services, labor or material or [0 the extent insurance Is afforded herein as 10 assessments for street improvements under ool).~truction or compleled :st Dille of Policy); or (e) resulting in loss or damage which would not have been sustained if the insured claimant had paid value for the insurM mortgage. 4. UnenfoTc~bility of the lien of the insured mortgage because of the Inability Or rmlure of the insured ax Dale of Policy, or the inability or failure of any subsequent Owner of the indebtedness, to romply with applicable dohl! business Jaws of the Stilte in wbich the land is siroated. 5. Invalidity or unenf{lrceabUiry of the lien of the insured mortgage, or claim thereot, which ar1!leS out of the transaction evidenced by the insured mortgage and is based upon usury or an)' conswner Credit ptotl.X.1ion or trUth in lending law. 6. Any statutory lien for services. labor or materials (or the claim of priority of MY stfltulory lien for servi~, labor or mllterials over the lien of the insuted mongage) arising from an improvement or work related to the land which is contracted for and commenced subsequent to Dato of Polil-)' and is not fmanced in whole or in pan by proceeds of the indebtednc!:!: secured by the: insured mortgage which at Dare of Polie}' th~ insured hAS advanced or ~ obli!!ated 10 8(j,'ance . 7. Any claim, which arises om of thl': transaction creating the interest of the mortgagee insured by this polie}', by reason of the operation of federal bauknJptey. state insolvency, or similar creditor's rights 18W$, that is based on: (a) the transaction creating the interest of the insured mortgagee being deemed a fraudulent conveyance or fraudulem transfer; or ' (b) rhe subordination of the interest of the insured mortgagee as a result of the application of the doctrine or equitable subordination: or (c) the rraJ1S&ction cre.lting tlle interest of rhe insUtL'ti mortgagee being deemed it preferentialtra.nsfer except where tbe preferential transfer result~ from the failure: 0) 10 timely recora the instrument of transfer; (ii) of such rocordation 10 impart notice to a purchaser for value OT a judgment or lien creditor. The &bove policy fonm may be hsued 10 afford eiTher Standard Coverage or ElCrcnded Coverage. In addition to the above 'Ellclusions from Coverage. the Exceptions from C.overJge in a Standard Coverage Policy will also include the following G<!neral Exceplions: EXCEPTlONSFRO~ICOVERAGE This policy doe~ not insure agaitU:lloss or damage (and the Company will not pay C(lSts. attorney's fees or expen.~) Which arise hy reason of: I. Taxes or as~sme1lts which are nOI shown as existing liens by the records of any taxing authority (har levies taxes or asses/;ments on real propeny or by the public records. Proceedings by a public IIgency which m3Y result in taxes or &ssessmenrs, or nOlices of such prOCeedings, whether or not shown by the records of such agency (lr by the pubhc records. 2. Any fuL'tS, righrs. interl.'St or claims which an: now shown by tbe public records, but which could be ac,c,enained by an impettiOD of the land or which may be ilSserted by persons in possession thereof. 3. Easemenls, liens or em:umbrances, or cJairm thereof, which are oot shown by the public records. 4. Di~crepancies. c(lnflicts in boundary lines, shortage in area. encroachments, or any other fliCtors which a correct survey would diSClose, and which are nof shown by the public records. :5. (a) Unpateoted mining claims; (b) reservations or exceptions in patents or in A(.1S authorizing the issuanc.e thereof; (c) waler rights, cJ~ims or title to Water. whether or nOI the matters excepled under (a). (hI, or (c) are shown by [h~ public records. 5. AMERICA-'ll LAND TITLE ASSOCIATION OWNER'S POLlCY (10-17-92) EXCLUSIONS FROM COVERAGE TIle following matters are expressly excluded from the coverage of this policy and the Company will not pay loss or damage. costs. attorney's fees or expense,.; which arise by reason of; 1. (u) Any law, ordinance Or governmental regulation (including bUlnot limited to building and 20ning laws, ordinances. or regulations) restricting, regulating, prohibiting or rd3ting to (I) the occuPilnCY. use. or enjoYD.lent of the land; (ii) the character. dimensions or location of any improvemenr now or hereafter erected on the land; (ill) a separ-.ttioQ in ownership ~.... ~-a..,.. U":.,..U~ PAGE 4 OF 5 MAY 12,2005 10:50 5105773310 Page 14