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THIS POLICY DOES NOT INSURE AGAINST: <br />1. Instruments, trusts, liens, easements, roads or highways, encumbrances, or rights or claims of parties in possession <br />of any portion of .the insured property, not shown by any public record of the County. or City and County, or by the <br />records of the Federal offices of the Division of the Federal District in which said property is situate. <br />2. The invalidity of tax sales, street assessments, leases, attachments, easements, declarations of homestead, build- <br />ing restrictions or money judgments mentioned as encumbrances in this policy. <br />3. Secret trusts, equities or defects in, or encumbrances upon, the title to the insured property known to the Insured, <br />not disclosed to the Company in writing, or the invalidity in whole or in part of any mortgage or deed of trust by reason <br />of the violation of the usury law. <br />4. Overlapping improvements, or any state of facts which a correct survey would show. City Zone or Set -Back <br />Ordinance Restrictions. <br />5. Taxes of every character not yet payable. <br />6. •Municiipal taxes, or municipal and/or District proceedings for any public improvement, or any tax or assessment <br />therefor unless otherwise herein specified, and then only when the amount of the assessment therefor has become fixed <br />and shown as a lien at the date hereof, in the public office designated by law. <br />7. Mining claims and/or water rights and all matters relating thereto. <br />CONDITIONS OF THIS POLICY <br />1. The Company hereby insures a marketable title such as a court of competent jurisdiction would uphold in an <br />action for specific performance. <br />2. The Company may and will, at its own expense, defend the Insured in all actions or proceedings founded on a <br />record claim of ,title or encumbrance prior in date and time to this policy and thereby insured against. <br />3. In case any action or proceeding described in Paragraph 2 of these conditions is begun, or in case of the service <br />of any paper or pleading, the object or effect of which shall or may be to impugn, attack, or call in question, the validity <br />of the title hereby insured, as insured, or to raise any material question relating to a claim of encumbrance hereby insured <br />against, or to cause any loss or damage for which the Company shall or may be liable under or by virtue of any of the <br />terms or conditions of this Policy, the Insured shall at once notify the Company thereof in writing. In such cases, and <br />in all cases where this Policy permits or requires the Company to prosecute or defend actions, the Insured shall secure <br />to it the right and opportunity to maintain or defend the actions or proceeding, and all appeals from any determination <br />therein, and to give it all reasonable aid therein, and permit it to use, at its option, the name of the Insured for such pur- <br />pose. If such notice shall not be given to this Company within five days after the service of the summons in such action <br />or proceeding, then this Policy shall be void; provided that no failure to give such notice shall effect the Company's <br />liability if such failure has not prejudiced, and can not in the future, prejudice the Company; provided also that nothing <br />contained herein shall be construed to avoid this Policy as to an insured mortgagee, trustee, or beneficiary in case of <br />failure, -other than the failure of such mortgagee, trustee, or beneficiary, to give notice as required by this paragraph. <br />4. No right of action shall accrue against the Company under this Policy until there has been a final determination <br />by a court -of competent jurisdiction adverse to the title as insured, unless such right of action shall be based upon a matter <br />of record not noted herein as a defect, encumbrance, or exception to which the insured property is subject. <br />5. The Company will pay, in addition to any loss, all costs imposed on the Insured in litigation carried on by it for <br />the Insured under the requirements of this policy, but in no case will it be liable for the fees of any counsel or attorney <br />employed by the Insured. Any loss under this Policy shall be paid to the respective parties hereby insured as their <br />interests may appear in the order of priority of their respective encumbrances upon or interests or estates in the insured <br />property. The liability of the Company to any Insured under this Policy shall in no case exceed the amount of the <br />pecuniary interest of- such Insured in the insured property. In no case shall the total loss, including all costs, paid to all <br />of the Insured exceed the amount of this Policy. <br />6. The Company reserves the option to settle any claim insured against by this Policy, or to pay this Policy in full; <br />and the payment to the full amount of this Policy shall terminate all liability of the Company thereunder. All payments <br />under this Policy shall reduce the amount of the insurance pro tanto. No payment or settlement can be demanded of <br />the Company without producing this Policy for indorsement of the fact of such payment or settlement. If this Policy be <br />lost, indemnity must be furnished to the satisfaction of the Company. <br />7. Whenever the Company shall have settled a claim under this Policy, it shall be entitled to all of the rights and <br />remedies which the Insured would have against any other person or property in respect to such claim, had this Policy not <br />been made, and the Insured will transfer or cause to be transferred to the Company such rights, and permit it to use the <br />name of the Insured for the recovery or defense thereof. If the payment does not cover the loss of the Insured, this Com- <br />pany shall be subrogated to such rights, in the proportion which said payment bears to the amount of said loss not covered <br />by said payment. And the Insured warrants that such right of subrogation shall vest in the Company unaffected by any <br />act of the Insured. <br />8. The term "the Insured" includes (a) all persons claiming an estate or interest under the Insured by will or descent, <br />including the community interest of the wife of the Insured; (b) each successor in interest of any Insured trustee or bene- <br />ficiary named in any trust deed herein described; (c) each successor in interest of any Insured mortgagee named in any <br />mortgage herein described; and (d) the purchaser at a mortgage or trust deed foreclosure sale, where the property sold is <br />bought in by or for any Insured named in this Policy. No transfer of this Policy shall be valid unless the approval of the <br />Company is endorsed hereon by its proper officers. Such approval may, in any case, be refused at the option of the Company, <br />and all interest in this Policy (saving for damage accrued) shall cease by its transfer without such approval so endorsed. <br />9. Nothing contained in this Policy shall be construed as an insurance to any Insured herein named against claims, <br />liens or encumbrances created or suffered by such Insured, nor as an insurance to anyone against defects, liens or encum- <br />brances created subsequent to the date and time hereof. <br />IN TESTIMONY WHEREOF, ALAMEDA COUNTY TITLE INSURANCE COMPANY, has caused its cor- <br />porate seal to be hereunto affixed, and these presents to be signed by two of its officers thereunto duly authorized this <br />25th day of Janu3r,, <br />Countersigned <br />, 198M, at 9.00 o'clock, A. M. <br />AYameba Countp Title 31tvwance 11"ompanp, <br />Aesi Secretary. <br />By............... _. ............. I ....................... <br />P ident_ <br />