HomeMy WebLinkAboutL_TitleReport_Walker'sSubaru_250404_V1.PDF Form No. 14 Guarantee No.: NCS-1252965-WA1
Subdivision Guarantee
First American Title Insurance Company
Issued by
First American Title Insurance Company
920 Fifth Avenue, Suite 1200, Seattle, WA 98104
Title Officer: Terri Nugent
Phone: (206)615-3150
FAX:
GUARANTEE
Form No. 14 Guarantee No.: NCS-1252965-WA1
Subdivision Guarantee (4-10-75) Page No.: 2
First American Title Insurance Company
First American Title Insurance Company
National Commercial Services
920 Fifth Avenue, Suite 1200, Seattle, WA 98104
(206)615-3150 - (800)526-7544 FAX
Terri Nugent
(206)615-3041
tnugent@firstam.com
SUBDIVISION GUARANTEE
LIABILITY $ 2,000.00 ORDER NO.: NCS-1252965-WA1
FEE $ 750.00 TAX $ To Be
Determined
YOUR REF.: D & C Investments, L.L.C., a
Washington limited liability
company
First American Title Insurance Company
a Corporation, herein called the Company
Subject to the Liability Exclusions and Limitations set forth below and in Schedule A.
GUARANTEES
Walker's Renton Subaru
herein called the Assured, against loss not exceeding the liability amount stated above which the Assured
shall sustain by reason of any incorrectness in the assurances set forth in Schedule A.
LIABILITY EXCLUSIONS AND LIMITATIONS
1. No guarantee is given nor liability assumed with respect to the validity, legal effect or priority of
any matter shown therein.
2. The Company's liability hereunder shall be limited to the amount of actual loss sustained by the
Assured because of reliance upon the assurance herein set forth, but in no event shall the
Company's liability exceed the liability amount set forth above.
3. This Guarantee is restricted to the use of the Assured for the purpose of providing title evidence
as may be required when subdividing land pursuant to the provisions of Chapter 58.17, R.C.W.,
and the local regulations and ordinances adopted pursuant to said statute. It is not to be used
as a basis for closing any transaction affecting title to said property.
Dated: February 27, 2025 at 7:30 A.M.
Form No. 14 Guarantee No.: NCS-1252965-WA1
Subdivision Guarantee (4-10-75) Page No.: 2
First American Title Insurance Company
SCHEDULE A
The assurances referred to on the face page are:
A. Title is vested in:
D & C Investments, L.L.C., a Washington limited liability company
B. That according to the Company's title plant records relative to the following described real
property (including those records maintained and indexed by name), there are no other
documents affecting title to said real property or any portion thereof, other than those shown
below under Record Matters.
The following matters are excluded from the coverage of this Guarantee:
1. Unpatented Mining Claims, reservations or exceptions in patents or in acts authorizing the
issuance thereof.
2. Water rights, claims or title to water.
3. Tax Deeds to the State of Washington.
4. Documents pertaining to mineral estates.
DESCRIPTION:
Parcel A:
Lots 20, 21 and 22, Block 26, C. D. HILLMAN'S EARLINGTON GARDENS ADDITION to the City of
Seattle, DIVISION NO. 1 as per plat recorded in Volume 17 of Plats, Page 74, records of King County,
Washington;
Except that portion of said Lot 20 lying Easterly of a line described as follows:
Beginning at the Northwest corner of Lot 22 of said Block 26;
Thence Easterly along the North line of Lots 22, 21 and 20 a distance of 63.89 feet to the true Point
of Beginning;
Thence South 9°46"43' East 97.06 feet to the South line of said Lot 20 at a point 83.03 feet Easterly
of the Southwest corner of said Lot 22 and the terminus of said line;
Together with that portion of vacated alley described under Ordinance No. 4914 recorded September
6, 2001 under Recording No. 20010906002177.
Parcel B:
Lots 17 through 31, inclusive, Block 27, C. D. HILLMAN'S EARLINGTON GARDENS ADDITION to the
City of Seattle, DIVISION NO. 1, according to the plat thereof recorded in Volume 17 of Plats, Page
74, in King County, Washington.
Except that portion of Lot 17 deeded for highway by Recording Number 5429708;
Together with North half of alley adjoining vacated by City of Renton under Ordinance No. 5772,
recorded October 27, 2015 as Recording No. 20151027000955.
Form No. 14 Guarantee No.: NCS-1252965-WA1
Subdivision Guarantee (4-10-75) Page No.: 2
First American Title Insurance Company
Parcel C:
Lots 32 through 39, inclusive, Block 27, C. D. HILLMAN'S EARLINGTON GARDENS ADDITION to the
City of Seattle, DIVISION NO. 1, according to the plat thereof recorded in Volume 17 of Plats, Page
74, in King County, Washington;
Together with South half of alley adjoining vacated by City of Renton under Ordinance No. 5772,
recorded October 27, 2015 as Recording No. 20151027000955.
Parcel D:
Lot 1, City of Renton Lot Line Adjustment No. LUA-02-105-LLA, recorded November 26, 2002 under
Recording No. 20021126900014, in King County, Washington.
APN: 334040-4148-00
APN: 334040-4470-08
APN: 334040-4265-07
Form No. 14 Guarantee No.: NCS-1252965-WA1
Subdivision Guarantee (4-10-75) Page No.: 2
First American Title Insurance Company
RECORD MATTERS:
1. General Taxes for the year 2025.
Tax Account No.: 334040-4148-00
Amount Billed: $ 6,610.86
Amount Paid: $ 0.00
Amount Due: $ 6,610.86
Assessed Land Value: $ 364,700.00
Assessed Improvement Value: $ 252,600.00
(Affects Parcel A)
2. General Taxes for the year 2025.
Tax Account No.: 334040-4470-08
Amount Billed: $ 45,575.41
Amount Paid: $ 0.00
Amount Due: $ 45,575.41
Assessed Land Value: $ 3,090,100.00
Assessed Improvement Value: $ 1,333,400.00
(Affects Parcels B and C)
3. General Taxes for the year 2025.
Tax Account No.: 334040-4265-07
Amount Billed: $ 59,330.90
Amount Paid: $ 0.00
Amount Due: $ 59,330.90
Assessed Land Value: $ 4,097,500.00
Assessed Improvement Value: $ 1,631,400.00
(Affects Parcel D)
4. Potential charges, for the King County Sewage Treatment Capacity Charge, as authorized under RCW
35.58 and King County Code 28.84.050. Said charges could apply for any property that connected to
the King County Sewer Service area on or after February 1, 1990.
Note: Properties located in Snohomish County and Pierce County may be subject to the King County
Sewage Treatment Capacity Charges. To verify charges contact: (206) 296-1450 or
CapChargeEscrow@kingcounty.gov.
5. Right granted to the Seattle Electric Company, by C. D. Hillman and Bessie Olive Hillman, his wife, by
Instrument Dated July 08, 1909 recorded in Volume 577 Of Deeds, Page 218, to divert, appropriate
or remove the Water Running in the ditch or ditches located upon the Plat of said addition, reference
to which recorded is made for further Particulars.
(Affects Parcel A)
6. Easement, including terms and provisions contained therein:
Recording Date: November 19, 1929
Recording Information: 2572150
In Favor of: Pacific Telephone and Telegraph Company
Form No. 14 Guarantee No.: NCS-1252965-WA1
Subdivision Guarantee (4-10-75) Page No.: 2
First American Title Insurance Company
For: Utilities
Affects: (Parcel D) as described therein.
7. Relinquishment of all existing and future rights to light, view and air, together with the rights of
access to and from the State Highway constructed on lands conveyed by document in favor of the
State of Washington:
Recorded: June 11, 1962
Recording No.: 5438166
(Affects Parcel D)
8. Covenants, conditions, restrictions and/or easements:
Recorded: February 25, 1970
Recording No.: 6623372
(Affects Parcel D)
9. Conditions, notes, easements, provisions and/or encroachments contained and/or delineated on the
face of the Survey , recorded October 29, 1975 under Recording No. 7510290580 of surveys,
in King County, Washington.
(Affects Parcel A)
10. Covenants, conditions, restrictions and/or easements:
Recorded: October 27, 1980
Recording No.: 8010270487
(Affects Parcel D)
11. Conditions, notes, easements, provisions and/or encroachments contained and/or delineated on the
face of the Survey , recorded December 31, 1984 as Recording No. 8412319002 of surveys,
in King County, Washington.
(Affects Parcel D)
12. Easement, including terms and provisions contained therein:
Recording Date: July 28, 1994
Recording Information: 9407280840
In Favor of: Puget Sound Power & Light Company, a Washington
corporation
For: system
Affects: (Parcel C) as described therein.
13. Easement, including terms and provisions contained therein:
Recording Date: November 14, 1994
Recording Information: 9411141062
In Favor of: The City of Renton, a municipal corporation of King County,
Washington
Form No. 14 Guarantee No.: NCS-1252965-WA1
Subdivision Guarantee (4-10-75) Page No.: 2
First American Title Insurance Company
For: Utilities and utility pipelines
Affects: (Parcel B) as described therein.
14. Conditions, notes, easements, provisions and/or encroachments contained and/or delineated on the
face of the Survey , recorded November 13, 1995 under Recording No. 9511139007 of surveys,
in King County, Washington.
(Affects Parcel A)
15. Deed of Trust and the terms and conditions thereof.
Grantor/Trustor: Tiger Mountain Rental, LLC, a Washington corporation
Grantee/Beneficiary: Towne Bank
Trustee: Pacific Northwest Title Company
Amount: $160,000.00
Recorded: August 21, 1997
Recording Information: 9708211408
Said document contains an erroneous legal description.
(Affects Portion of Parcel D and other property)
16. Assignment of leases and/or rents and the terms and conditions thereof:
Assignor: Tiger Mountain Rental, LLC, a Washington corporation
Assignee: Towne Bank
Recorded: August 21, 1997
Recording Information: 9708211409
Said document contains an erroneous legal description.
(Affects Portion of Parcel D and other property)
17. The terms and provisions contained in the document entitled "City Of Renton, Washington Ordinance
No. 4914" recorded September 6, 2001 as Recording No. 20010906002177 of Official Records.
(Affects Parcels A and D)
18. Easement, including terms and provisions contained therein:
Recording Date: February 07, 2002
Recording Information: 20020207002539
In Favor of: City of Renton
For: Utilities and utility pipelines
Affects: (Parcel D) as described therein.
19. The terms, provisions and easement(s) contained in the document entitled "Easement Agreement"
recorded June 12, 2002 as Recording No. 20020612000622 of Official Records.
(Affects Parcel D)
20. Terms, covenants, conditions, restrictions and easements as contained in recorded Lot Line
Adjustment (Boundary Line Revision) LUA-02-105-LLA :
Form No. 14 Guarantee No.: NCS-1252965-WA1
Subdivision Guarantee (4-10-75) Page No.: 2
First American Title Insurance Company
Recorded: November 26, 2002
Recording Information: 20021126900014
(Affects Parcel D)
21. Easement, including terms and provisions contained therein:
Recording Date: January 28, 2003
Recording Information: 20030128002591
In Favor of: Puget Sound Energy, Inc
For: transmission, distribution and sale of electricity
Affects: (Parcel D) as described therein.
22. Conditions, notes, easements, provisions and/or encroachments contained and/or delineated on the
face of the Survey , recorded March 07, 2003 as Recording No. 20030307900001 of surveys,
in King County, Washington.
(Affects Parcel D)
23. Easement, including terms and provisions contained therein:
Recording Date: March 27, 2003
Recording Information: 20030327000928
In Favor of: Qwest Corporation
For: Telecommunications facilities
Affects: (Parcel D) as described therein.
24. Matters that may be disclosed upon recordation of final subdivision.
Form No. 14 Guarantee No.: NCS-1252965-WA1
Subdivision Guarantee (4-10-75) Page No.: 2
First American Title Insurance Company
INFORMATIONAL NOTES
NOTE: We don't find any voluntary liens of record affecting subject property. Inquire as to the existence
of any unrecorded lien or other indebtedness which could give rise to any security interest in the subject
property.
(Affects Parcels A-C)
A. Any sketch attached hereto is done so as a courtesy only and is not part of any title commitment or
policy. It is furnished solely for the purpose of assisting in locating the premises and First American
expressly disclaims any liability which may result from reliance made upon it.
Form No. 14 Guarantee No.: NCS-1252965-WA1
Subdivision Guarantee (4-10-75) Page No.: 2
First American Title Insurance Company
SCHEDULE OF EXCLUSIONS FROM COVERAGE OF THIS GUARANTEE
1. Except to the extent that specific assurance are provided in this Guarantee, the Company assumes no liability for loss or dam age by reason of the following:
(a) Defects, liens, encumbrances, adverse claims or other matters against the title, whether or not shown by the public records.
(b) (1) Taxes or assessments of any taxing authority that levies taxes or assessments on real property; or, (2) Proceedings by a publ ic agency which may result in taxes
or assessments, or notices of such proceedings, whether or not the matters excluded under (1) or (2) are shown by the records of the taxing authority or by the public
records.
(c) (1) Unpatented mining claims; (2) reservations or exceptions in patents or in Acts authorizing the issuance thereof; (3) water rights, claims or title to water, whether
or not the matters excluded under (1), (2) or (3) are shown by the public records.
2. Notwithstanding any specific assurances which are provided in this Guarantee, the Company assumes no liability for loss or damage by reason of the following:
(a) Defects, liens, encumbrances, adverse claims or other matters affecting the title to any property beyond the lines of the land expressly described in this Guarantee, or
title to streets, roads, avenues, lanes, ways or waterways to which such land abuts, or the right to maintain therein vaults, tunnels, ramps, or any structure or improvements;
or any rights or easements therein, unless such property, rights or easements are expressly and specifically set forth in said description.
(b) Defects, liens, encumbrances, adverse claims or other matters, whether or not shown by the public records; (1) which are created, suffered, assumed or agreed to by
one or more of the Assureds; (2) which result in no loss to the Assured; or (3) which do not result in the invalidity or potential invalidity of any judicial or non -judicial
proceeding which is within the scope and purpose of the assurances provided.
(c) The identity of any party shown or referred to in this Guarantee.
(d) The validity, legal effect or priority of any matter shown or referred to in this Guarantee.
GUARANTEE CONDITIONS AND STIPULATIONS
1. Definition of Terms.
The following terms when used in the Guarantee mean:
(a) the "Assured": the party or parties named as the Assured in this Guarantee, or
on a supplemental writing executed by the Company.
(b) "land": the land described or referred to in this Guarantee, and improvements
affixed thereto which by law constitute real property. The term "land" does not
include any property beyond the lines of the area described or referred to in this
Guarantee, nor any right, title, interest, estate or easement in abutting streets, roads,
avenues, alleys, lanes, ways or waterways.
(c) "mortgage": mortgage, deed of trust, trust deed, or other security instrument.
(d) "public records" : records established under state statutes at Date of
Guarantee for the purpose of imparting constructive notice of matters relating to real
property to purchasers for value and without knowledge.
(e) "date": the effective date.
2. Notice of Claim to be Given by Assured Claimant.
An Assured shall notify the Company promptly in writing in case knowledge shall
come to an Assured hereunder of any claim of title or interest which is adverse to the
title to the estate or interest, as stated herein, and which might cause loss or damage
for which the Company may be liable by virtue of this Guarantee. If prompt notice
shall not be given to the Company, then 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 Assured under this Guarantee unless the Company shall be prejudiced by the
failure and then only to the extent of the prejudice.
3. No Duty to Defend or Prosecute.
The Company shall have no duty to defend or prosecute any action or proceeding to
which the Assured is a party, notwithstanding the nature of any allegation in such
action or proceeding.
4. Company's Option to Defend or Prosecute Actions; Duty of Assured
Claimant to Cooperate.
Even though the Company has no duty to defend or prosecute as set forth in
Paragraph 3 above:
(a) The Company shall have the right, at its sole option and cost, to institute and
prosecute any action or proceeding, interpose a defense, as limited in (b), or to do
any other act which in its opinion may be necessary or desirable to establish the title
to the estate or interest as stated herein, or to establish the lien rights of the
Assured, or to prevent or reduce loss or damage to the Assured. The Company may
take any appropriate action under the terms of this Guarantee, whether or not it shall
be liable hereunder, and shall not thereby concede liability or waive any provision of
this Guarantee. If the Company shall exercise its rights under this paragraph, it shall
do so diligently.
(b) If the Company elects to exercise its options as stated in Paragraph 4(a) the
Company shall have the right to select counsel of its choice (subject to the right of
such Assured to object for reasonable cause) to represent the Assured and shall not
be liable for and will not pay the fees of any other counsel, nor will the Company pay
any fees, costs or expenses incurred by an Assured in the defense of those causes of
action which allege matters not covered by this Guarantee.
(c) Whenever the Company shall have brought an action or interposed a defense
as permitted by the provisions of this Guarantee, 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 an adverse judgment or order.
(d) In all cases where this Guarantee permits the Company to prosecute or
provide for the defense of any action or proceeding, an Assured shall secure to the
Company the right to so prosecute or provide for the defense of any action or
proceeding, and all appeals therein, and permit the Company to use, at its option, the
name of such Assured for this purpose. Whenever requested by the Company, an
Assured, at the Company's expense, shall give the Company all reasonable aid in any
action or proceeding, securing evidence, obtaining witnesses, prosecuting or
defending the action or lawful act which in the opinion of the Company may be
necessary or desirable to establish the title to the estate or interest as stated herein,
or to establish the lien rights of the Assured. If the Company is prejudiced by the
failure of the Assured to furnish the required cooperation, the Company's obligations
to the Assured under the Guarantee shall terminate.
5. Proof of Loss or Damage.
In addition to and after the notices required under Section 2 of these Conditions and
Stipulations have been provided to the Company, a proof of loss or damage signed
and sworn to by the Assured shall be furnished to the Company within ninety (90)
days after the Assured shall ascertain the facts giving rise to the loss or damage. The
proof of loss or damage shall describe the matters covered by this Guarantee which
constitute 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 the Assured to provide the required proof of loss or damage, the
Company's obligation to such Assured under the Guarantee shall terminate. In
addition, the Assured may reasonably be required to submit to examination under
oath by any authorized representative 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 Guarantee, which reasonably pertain to the loss or damage. Further, if
requested by any authorized representative of the Company, the Assured 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 a third party, which reasonably pertain to the
Loss or Damage. All information designated as confidential by the Assured 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 the Assured 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 Guarantee to the Assured for that claim.
Form No. 1282 (Rev. 12/15/95)
Form No. 14 Guarantee No.: NCS-1252965-WA1
Subdivision Guarantee (4-10-75) Page No.: 2
First American Title Insurance Company
6. Options to Pay or Otherwise Settle Claims: Termination of Liability.
In case of a claim under this Guarantee, the Company shall have the following
additional options:
(a) To Pay or Tender Payment of the Amount of Liability or to Purchase the
Indebtedness.
The Company shall have the option to pay or settle or compromise for or in the name
of the Assured any claim which could result in loss to the Assured within the coverage
of this Guarantee, or to pay the full amount of this Guarantee or, if this Guarantee is
issued for the benefit of a holder of a mortgage or a lienholder, the Company shall
have the option to purchase the indebtedness secured by said mortgage or said lien
for the amount owing thereon, together with any costs, reasonable attorneys' fees and
expenses incurred by the Assured claimant which were authorized by the Company up
to the time of purchase.
Such purchase, payment or tender of payment of the full amount of the Guarantee
shall terminate all liability of the Company hereunder. In the event after notice of
claim has been given to the Company by the Assured the Company offers to purchase
said indebtedness, the owner of such indebtedness shall transfer and assign said
indebtedness, together with any collateral security, to the Company upon payment of
the purchase price.
Upon the exercise by the Company of the option provided for in Paragraph (a) the
Company's obligation to the Assured under this Guarantee for the claimed loss or
damage, other than to make the payment required in that paragraph, shall terminate,
including any obligation to continue the defense or prosecution of any litigation for
which the Company has exercised its options under Paragraph 4, and the Guarantee
shall be surrendered to the Company for cancellation.
(b) To Pay or Otherwise Settle With Parties Other Than the Assured or With the
Assured Claimant.
To pay or otherwise settle with other parties for or in the name of an Assured claimant
any claim Assured against under this Guarantee, together with any costs, attorneys'
fees and expenses incurred by the Assured 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 the option provided for in Paragraph (b) the
Company's obligation to the Assured under this Guarantee for the claimed loss or
damage, other than to make the payment required in that paragraph, shall terminate,
including any obligation to continue the defense or prosecution of any litigation for
which the Company has exercised its options under Paragraph 4.
7. Determination and Extent of Liability.
This Guarantee is a contract of Indemnity against actual monetary loss or damage
sustained or incurred by the Assured claimant who has suffered loss or damage by
reason of reliance upon the assurances set forth in this Guarantee and only to the
extent herein described, and subject to the Exclusions From Coverage of This
Guarantee.
The Liability of the Company under this Guarantee to the Assured shall not exceed the
least of:
(a) the amount of liability stated in this Guarantee;
(b) the amount of the unpaid principal indebtedness secured by the mortgage of an
Assured mortgagee, as limited or provided under Section 6 of these Conditions and
Stipulations or as reduced under Section 9 of these Conditions and Stipulations, at the
time the loss or damage Assured against by this Guarantee occurs, together with
interest thereon; or
(c) the difference between the value of the estate or interest covered hereby as
stated herein and the value of the estate or interest subject to any defect, lien or
encumbrance Assured against by this Guarantee.
8. Limitation of Liability.
(a) If the Company establishes the title, or removes the alleged defect, lien or
encumbrance, or cures any other matter Assured against by this Guarantee 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 not be liable for any loss or damage caused thereby.
(b) In the event of any litigation by the Company or with the Company's consent,
the Company shall have no liability for loss or damage until there has been a final
determination by a court of competent jurisdiction, and disposition of all appeals
therefrom, adverse to the title, as stated herein.
(c) The Company shall not be liable for loss or damage to any Assured for liability
voluntarily assumed by the Assured in settling any claim or suit without the
prior written consent of the Company.
9. Reduction of Liability or Termination of Liability.
All payments under this Guarantee, except payments made for costs, attorneys' fees
and expenses pursuant to Paragraph 4 shall reduce the amount of liability pro tanto.
10. Payment of Loss.
(a) No payment shall be made without producing this Guarantee for endorsement
of the payment unless the Guarantee has been lost or destroyed, in which case proof
of loss or destruction shall be furnished to the satisfaction of the Company.
(b) When liability and the extent of loss or damage has been definitely fixed in
accordance with these Conditions and Stipulations, the loss or damage shall be
payable within thirty (30) days thereafter.
11. Subrogation Upon Payment or Settlement.
Whenever the Company shall have settled and paid a claim under this Guarantee, all
right of subrogation shall vest in the Company unaffected by any act of the Assured
claimant.
The Company shall be subrogated to and be entitled to all rights and remedies which
the Assured would have had against any person or property in respect to the claim had
this Guarantee not been issued. If requested by the Company, the Assured shall
transfer to the Company all rights and remedies against any person or property
necessary in order to perfect this right of subrogation. The Assured shall permit the
Company to sue, compromise or settle in the name of the Assured and to use the
name of the Assured in any transaction or litigation involving these rights or remedies.
If a payment on account of a claim does not fully cover the loss of the Assured the
Company shall be subrogated to all rights and remedies of the Assured after the
Assured shall have recovered its principal, interest, and costs of collection.
12. Arbitration.
Unless prohibited by applicable law, either the Company or the Assured may demand
arbitration pursuant to the Title Insurance Arbitration Rules of the American Arbitration
Association. Arbitrable matters may include, but are not limited to, any controversy or
claim between the Company and the Assured arising out of or relating to this
Guarantee, any service of the Company in connection with its issuance or the breach
of a Guarantee provision or other obligation. All arbitrable matters when the Amount
of Liability is $1,000,000 or less shall be arbitrated at the option of either the Company
or the Assured. All arbitrable matters when the amount of liability is in excess of
$1,000,000 shall be arbitrated only when agreed to by both the Company and the
Assured. The Rules in effect at Date of Guarantee shall be binding upon the
parties. The award may include attorneys' fees only if the laws of the state in which
the land is located permits a court to award attorneys' fees to a prevailing
party. Judgment upon the award rendered by the Arbitrator(s) may be entered in any
court having jurisdiction thereof.
The law of the situs of the land shall apply to an arbitration under the Title Insurance
Arbitration Rules.
A copy of the Rules may be obtained from the Company upon request.
13. Liability Limited to This Guarantee; Guarantee Entire Contract.
(a) This Guarantee together with all endorsements, if any, attached hereto by the
Company is the entire Guarantee and contract between the Assured and the
Company. In interpreting any provision of this Guarantee, this Guarantee shall be
construed as a whole.
(b) Any claim of loss or damage, whether or not based on negligence, or any action
asserting such claim, shall be restricted to this Guarantee.
(c) No amendment of or endorsement to this Guarantee can be made except by a
writing endorsed hereon or attached hereto signed by either the President, a Vice
President, the Secretary, an Assistant Secretary, or validating officer or authorized
signatory of the Company.
14. Notices, Where Sent.
All notices required to be given the Company and any statement in writing required to
be furnished the Company shall include the number of this Guarantee and shall be
addressed to the Company at 2 First American Way. Bldg. 2, Santa Ana, CA. 92707.
Form No. 1282 (Rev. 12/15/95)