HomeMy WebLinkAboutL_Asdourian_Owner's_Title_Policy_7624544Form 5020500 (7-1-14)Page 1 ALTA Homeowner’s Policy of Title Insurance (Rev. 2-3-10)
Homeowner’s Policy of Title Insurance
For a One-To-Four Family Residence
ISSUED BY
First American Title Insurance Company
POLICY NUMBEREagle Policy 5020500-0570277e
OWNER’S INFORMATION SHEET
Your Title Insurance Policy is a legal contract between You and Us.
It applies only to a one-to-four family residence and only if each insured named in Schedule A is a Natural Person. If the Land described in
Schedule A of the Policy is not an improved residential lot on which there is located a one-to-four family residence, or if each insured named in
Schedule A is not a Natural Person, contact Us immediately.
The Policy insures You against actual loss resulting from certain Covered Risks. These Covered Risks are listed beginning on page 2 of the Policy.
The Policy is limited by:
Provisions of Schedule A
Exceptions in Schedule B
Our Duty To Defend Against Legal Actions On Page 3
Exclusions on page 4
Conditions on pages 4, 5 and 6.
You should keep the Policy even if You transfer Your Title to the Land. It may protect against claims made against You by someone else after You
transfer Your Title.
IF YOU WANT TO MAKE A CLAIM, SEE SECTION 3 UNDER CONDITIONS ON PAGE 4.
The premium for this Policy is paid once. No additional premium is owed for the Policy.
This sheet is not Your insurance Policy. It is only a brief outline of some of the important Policy features. The Policy explains in detail Your rights
and obligations and Our rights and obligations. Since the Policy – and not this sheet – is the legal document,
YOU SHOULD READ THE POLICY VERY CAREFULLY.
If You have any questions about Your Policy, contact:
FIRST AMERICAN TITLE INSURANCE COMPANY
1 First American Way
Santa Ana, California 92707
Homeowner’s Policy of Title Insurance for a One-to-Four Family Residence
TABLE OF CONTENTS
Page
OWNER’S COVERAGE STATEMENT 2
COVERED RISKS 2 &3
OUR DUTY TO DEFEND AGAINST LEGAL ACTIONS 3
SCHEDULE A Insert
Policy Number, Premium, Date and Amount
Deductible Amounts and Maximum Dollar Limits of Liability
Street Address of the Land
1.Name of Insured
2.Interest in Land Covered
3.Description of the Land
SCHEDULE B – EXCEPTIONS Insert
EXCLUSIONS 4
Page
CONDITIONS
1.Definitions 4
2.Continuation of Coverage 4
3.How to Make a Claim 4 & 5
4.Our Choices When We Learn of a Claim 5
5.Handling a Claim or Legal Action 5
6.Limitation of Our Liability 5 &6
7.Transfer of Your Rights to Us 6
8.This Policy is the Entire Contract 6
9.Increased Policy Amount 6
10.Severability 6
11.Arbitration 6
12.Choice of Law 6
Form 5020500 (7-1-14)Page 2 ALTA Homeowner’s Policy of Title Insurance (Rev. 2-3-10)
Homeowner’s Policy of Title Insurance
For a One-To-Four Family Residence
ISSUED BY
First American Title Insurance Company
POLICY NUMBEREagle Policy 5020500-0570277e
As soon as You Know of anything that might be covered by this Policy, You must notify Us promptly in writing at the address shown in
Section 3 of the Conditions.
OWNER’S COVERAGE STATEMENT
This Policy insures You against actual loss, including any costs, attorneys’ fees and expenses provided under this Policy. The loss must result from
one or more of the Covered Risks set forth below. This Policy covers only Land that is an improved residential lot on which there is located a one-to-
four family residence and only when each insured named in Schedule A is a Natural Person.
Your insurance is effective on the Policy Date. This Policy covers Your actual loss from any risk described under Covered Risks if the event creating
the risk exists on the Policy Date or, to the extent expressly stated in Covered Risks, after the Policy Date.
Your insurance is limited by all of the following:
The Policy Amount
For Covered Risk 16, 18, 19 and 21, Your Deductible Amount and Our Maximum Dollar Limit of Liability shown in Schedule A.
The Exceptions in Schedule B
Our Duty To Defend Against Legal Actions
The Exclusions on Page 4
The Conditions on Page 4, 5 and 6
COVERED RISKS
The Covered Risks are:
1.Someone else owns an interest in Your Title.
2.Someone else has rights affecting Your Title because of leases, contracts, or options.
3.Someone else claims to have rights affecting Your Title because of forgery or impersonation.
4.Someone else has an Easement on the Land.
5.Someone else has a right to limit Your use of the Land.
6.Your Title is defective. Some of these defects are:
a.Someone else’s failure to have authorized a transfer or conveyance of your Title.
b.Someone else’s failure to create a valid document by electronic means.
c.A document upon which Your Title is based is invalid because it was not properly signed, sealed, acknowledged, delivered or
recorded.
d.A document upon which Your Title is based was signed using a falsified, expired, or otherwise invalid power of attorney.
e.A document upon which Your Title is based was not properly filed, recorded, or indexed in the Public Records.
f.A defective judicial or administrative proceeding.
7.Any of Covered Risks 1 through 6 occurring after the Policy Date.
8.Someone else has a lien on Your Title, including a:
a.lien of real estate taxes or assessments imposed on Your Title by a governmental authority that are due or payable, but unpaid;
b.Mortgage;
c.judgment, state or federal tax lien;
d.charge by a homeowner’s or condominium association; or
e.lien, occurring before or after the Policy Date, for labor and material furnished before the Policy Date.
9.Someone else has an encumbrance on Your Title.
10.Someone else claims to have rights affecting Your Title because of fraud, duress, incompetency or incapacity.
11.You do not have actual vehicular and pedestrian access to and from the Land, based upon a legal right.
12.You are forced to correct or remove an existing violation of any covenant, condition or restriction affecting the Land, even if the covenant,
condition or restriction is excepted in Schedule B. However, You are not covered for any violation that relates to:
a.any obligation to perform maintenance or repair on the Land; or
b.environmental protection of any kind, including hazardous or toxic conditions or substances
unless there is a notice recorded in the Public Records, describing any part of the Land, claiming a violation exists. Our liability for this Covered
Risk is limited to the extent of the violation stated in that notice.
13.Your Title is lost or taken because of a violation of any covenant, condition or restriction, which occurred before You acquired Your Title,
even if the covenant, condition or restriction is excepted in Schedule B.
COVERED RISKS (Continued)
Form 5020500 (7-1-14)Page 3 ALTA Homeowner’s Policy of Title Insurance (Rev. 2-3-10)
14.The violation or enforcement of those portions of any law or government regulation concerning:
a.building;
b.zoning;
c.land use;
d.improvements on the Land;
e.land division; or
f.environmental protection,
if there is a notice recorded in the Public Records, describing any part of the Land, claiming a violation exists or declaring the intention to
enforce the law or regulation. Our liability for this Covered Risk is limited to the extent of the violation or enforcement stated in that notice.
15.An enforcement action based on the exercise of a governmental police power not covered by Covered Risk 14 if there is a notice recorded
in the Public Records, describing any part of the Land, of the enforcement action or intention to bring an enforcement action. Our liability
for this Covered Risk is limited to the extent of the enforcement action stated in that notice.
16.Because of an existing violation of a subdivision law or regulation affecting the Land:
a.You are unable to obtain a building permit;
b.You are required to correct or remove the violation; or
c.someone else has a legal right to, and does, refuse to perform a contract to purchase the Land, lease it or make a Mortgage loan on
it.
The amount of Your insurance for this Covered Risk is subject to Your Deductible Amount and Our Maximum Dollar Limit of Liability shown in
Schedule A.
17.You lose Your Title to any part of the Land because of the right to take the Land by condemning it, if:
a.there is a notice of the exercise of the right recorded in the Public Records and the notice describes any part of the Land; or
b.the taking happened before the Policy Date and is binding on You if You bought the Land without Knowing of the taking.
18.You are forced to remove or remedy Your existing structures, or any part of them – other than boundary walls or fences – because any
portion was built without obtaining a building permit from the proper government office. The amount of Your insurance for this Covered
Risk is subject to Your Deductible Amount and Our Maximum Dollar Limit of Liability shown in Schedule A.
19.You are forced to remove or remedy Your existing structures, or any part of them, because they violate an existing zoning law or zoning
regulation. If You are required to remedy any portion of Your existing structures, the amount of Your insurance for this Covered Risk is
subject to Your Deductible Amount and Our Maximum Dollar Limit of Liability shown in Schedule A.
20.You cannot use the Land because use as a single-family residence violates an existing zoning law or zoning regulation.
21.You are forced to remove Your existing structures because they encroach onto Your neighbor’s land. If the encroaching structures are
boundary walls or fences, the amount of Your insurance for this Covered Risk is subject to Your Deductible Amount and Our Maximum
Dollar Limit of Liability shown in Schedule A.
22.Someone else has a legal right to, and does, refuse to perform a contract to purchase the Land, lease it or make a Mortgage loan on it
because Your neighbor’s existing structures encroach onto the Land.
23.You are forced to remove Your existing structures which encroach onto an Easement or over a building set-back line, even if the Easement
or building set-back line is excepted in Schedule B.
24.Your existing structures are damaged because of the exercise of a right to maintain or use any Easement affecting the Land, even if the
Easement is excepted in Schedule B.
25.Your existing improvements (or a replacement or modification made to them after the Policy Date), including lawns, shrubbery or trees, are
damaged because of the future exercise of a right to use the surface of the Land for the extraction or development of minerals, water or
any other substance, even if those rights are excepted or reserved from the description of the Land or excepted in Schedule B.
26.Someone else tries to enforce a discriminatory covenant, condition or restriction that they claim affects Your Title which is based upon
race, color, religion, sex, handicap, familial status, or national origin.
27.A taxing authority assesses supplemental real estate taxes not previously assessed against the Land for any period before the Policy Date
because of construction or a change of ownership or use that occurred before the Policy Date.
28.Your neighbor builds any structures after the Policy Date – other than boundary walls or fences – which encroach onto the Land.
29.Your Title is unmarketable, which allows someone else to refuse to perform a contract to purchase the Land, lease it or make a Mortgage
loan on it.
30.Someone else owns an interest in Your Title because a court order invalidates a prior transfer of the title under federal bankruptcy, state
insolvency, or similar creditors’ rights laws.
31.The residence with the address shown in Schedule A is not located on the Land at the Policy Date.
32.The map, if any, attached to this Policy does not show the correct location of the Land according to the Public Records.
OUR DUTY TO DEFEND AGAINST LEGAL ACTIONS
We will defend Your Title in any legal action only as to that part of the action which is based on a Covered Risk and which is not excepted or
excluded from coverage in this Policy. We will pay the costs, attorneys’ fees, and expenses We incur in that defense.
We will not pay for any part of the legal action which is not based on a Covered Risk or which is excepted or excluded from coverage in this Policy.
We can end Our duty to defend Your Title under section 4 of the Conditions.
This Policy is not complete without Schedules A and B.
Form 5020500 (7-1-14)Page 4 ALTA Homeowner’s Policy of Title Insurance (Rev. 2-3-10)
EXCLUSIONS
In addition to the Exceptions in Schedule B, You are not insured against loss, costs, attorneys' fees, and expenses resulting from:
1. Governmental police power, and the existence or violation of those portions of any law or government regulation concerning:
a.building;
b.zoning;
c.land use;
d.improvements on the Land;
e.land division; and
f.environmental protection.
This Exclusion does not limit the coverage described in Covered Risk 8.a., 14, 15, 16, 18, 19, 20, 23 or 27.
2. The failure of Your existing structures, or any part of them, to be constructed in accordance with applicable building codes. This Exclusion does
not limit the coverage described in Covered Risk 14 or 15.
3.The right to take the Land by condemning it. This Exclusion does not limit the coverage described in Covered Risk 17.
4. Risks:
a.that are created, allowed, or agreed to by You, whether or not they are recorded in the Public Records;
b.that are Known to You at the Policy Date, but not to Us, unless they are recorded in the Public Records at the Policy Date;
c.that result in no loss to You; or
d.that first occur after the Policy Date – this does not limit the coverage described in Covered Risk 7, 8.e., 25, 26, 27 or 28.
5.Failure to pay value for Your Title.
6.Lack of a right:
a.to any land outside the area specifically described and referred to in paragraph 3 of Schedule A; and
b.in streets, alleys, or waterways that touch the Land.
This Exclusion does not limit the coverage described in Covered Risk 11 or 21.
7.The transfer of the Title to You is invalid as a preferential transfer or as a fraudulent transfer or conveyance under federal bankruptcy, state
insolvency, or similar creditors’ rights laws.
CONDITIONS
1.DEFINITIONS
a.Easement – the right of someone else to use the Land for a
special purpose.
b.Estate Planning Entity – a legal entity or Trust established by
a Natural Person for estate planning.
c.Known – things about which You have actual knowledge.
The words “Know” and “Knowing” have the same meaning
as Known.
d.Land – the land or condominium unit described in paragraph
3 of Schedule A and any improvements on the Land which
are real property.
e.Mortgage – a mortgage, deed of trust, trust deed or other
security instrument.
f.Natural Person – a human being, not a commercial or legal
organization or entity. Natural Person includes a trustee of a
Trust even if the trustee is not a human being.
g.Policy Date – the date and time shown in Schedule A. If the
insured named in Schedule A first acquires the interest
shown in Schedule A by an instrument recorded in the Public
Records later than the date and time shown in Schedule A,
the Policy Date is the date and time the instrument is
recorded.
h.Public Records – records that give constructive notice of
matters affecting Your Title, according to the state statutes
where the Land is located.
i.Title – the ownership of Your interest in the Land, as shown
in Schedule A.
j.Trust – a living trust established by a Natural Person for
estate planning.
k.We/Our/Us – First American Title Insurance Company.
l.You/Your – the insured named in Schedule A and also those
identified in Section 2.b. of these Conditions.
2.CONTINUATION OF COVERAGE
a.This Policy insures You forever, even after You no longer
have Your Title. You cannot assign this Policy to anyone
else.
b.This Policy also insures:
(1)anyone who inherits Your Title because of Your death;
(2)Your spouse who receives Your Title because of
dissolution of Your marriage;
(3)the trustee or successor trustee of a Trust or any Estate
Planning Entity to whom You transfer Your Title after
the Policy Date;
(4)the beneficiaries of Your Trust upon Your death; or
(5)anyone who receives Your Title by a transfer effective
on Your death as authorized by law.
c.We may assert against the insureds identified in Section 2.b.
any rights and defenses that We have against any previous
insured under this Policy.
3.HOW TO MAKE A CLAIM
a.Prompt Notice Of Your Claim
(1)As soon as You Know of anything that might be covered
by this Policy, You must notify Us promptly in writing.
(2)Send Your notice to First American Title Insurance
Company, Attn: Claims National Intake Center, 1
First American Way, Santa Ana, California 92707.
Phone: 888-632-1642. Please include the Policy
number shown in Schedule A, and the county and state
where the Land is located. Please enclose a copy of
Your policy, if available.
(3)If You do not give Us prompt notice, Your coverage will
be reduced or ended, but only to the extent Your failure
affects Our ability to resolve the claim or defend You.
CONDITIONS (Continued)
Form 5020500 (7-1-14)Page 5 ALTA Homeowner’s Policy of Title Insurance (Rev. 2-3-10)
b.Proof Of Your Loss
(1)We may require You to give Us a written statement
signed by You describing Your loss which includes:
(a)the basis of Your claim;
(b)the Covered Risks which resulted in Your loss;
(c)the dollar amount of Your loss; and
(d)the method You used to compute the amount of
Your loss.
(2)We may require You to make available to Us records,
checks, letters, contracts, insurance policies and other
papers which relate to Your claim. We may make
copies of these papers.
(3)We may require You to answer questions about Your
claim under oath.
(4)If you fail or refuse to give Us a statement of loss, answer
Our questions under oath, or make available to Us the
papers We request, Your coverage will be reduced or
ended, but only to the extent Your failure or refusal affects
Our ability to resolve the claim or defend You.
4.OUR CHOICES WHEN WE LEARN OF A CLAIM
a.After We receive Your notice, or otherwise learn, of a claim
that is covered by this Policy, Our choices include one or
more of the following:
(1)Pay the claim;
(2)Negotiate a settlement;
(3)Bring or defend a legal action related to the claim;
(4)Pay You the amount required by this Policy;
(5)End the coverage of this Policy for the claim by paying
You Your actual loss resulting from the Covered Risk,
and those costs, attorneys’ fees and expenses incurred
up to that time which We are obligated to pay;
(6)End the coverage described in Covered Risk 16, 18, 19
or 21 by paying You the amount of Your insurance then
in force for the particular Covered Risk, and those
costs, attorneys’ fees and expenses incurred up to that
time which We are obligated to pay;
(7)End all coverage of this Policy by paying You the Policy
Amount then in force, and those costs, attorneys' fees
and expenses incurred up to that time which We are
obligated to pay;
(8)Take other appropriate action.
b.When We choose the options in Sections 4.a. (5), (6) or (7),
all Our obligations for the claim end, including Our obligation
to defend, or continue to defend, any legal action.
c.Even if We do not think that the Policy covers the claim, We
may choose one or more of the options above. By doing so,
We do not give up any rights.
5.HANDLING A CLAIM OR LEGAL ACTION
a.You must cooperate with Us in handling any claim or legal
action and give Us all relevant information.
b.If You fail or refuse to cooperate with Us, Your coverage will be
reduced or ended, but only to the extent Your failure or refusal
affects Our ability to resolve the claim or defend You.
c.We are required to repay You only for those settlement
costs, attorneys' fees and expenses that We approve in
advance.
d.We have the right to choose the attorney when We bring or
defend a legal action on Your behalf. We can appeal any
decision to the highest level. We do not have to pay Your
claim until the legal action is finally decided.
e.Whether or not We agree there is coverage, We can bring or
defend a legal action, or take other appropriate action under
this Policy. By doing so, We do not give up any rights.
6.LIMITATION OF OUR LIABILITY
a.After subtracting Your Deductible Amount if it applies, We
will pay no more than the least of:
(1)Your actual loss;
(2)Our Maximum Dollar Limit of Liability then in force for
the particular Covered Risk, for claims covered only
under Covered Risk 16, 18, 19 or 21; or
(3)the Policy Amount then in force.
and any costs, attorneys’ fees and expenses that We are
obligated to pay under this Policy.
b.If We pursue Our rights under Sections 4.a.(3) and 5.e. of
these Conditions and are unsuccessful in establishing the
Title, as insured:
(1)the Policy Amount then in force will be increased by
10% of the Policy Amount shown in Schedule A, and
(2)You shall have the right to have the actual loss
determined on either the date the claim was made by
You or the date it is settled and paid.
c.(1)If We remove the cause of the claim with reasonable
diligence after receiving notice of it, all Our obligations
for the claim end, including any obligation for loss You
had while We were removing the cause of the claim.
(2)Regardless of 6.c.(1) above, if You cannot use the Land
because of a claim covered by this Policy:
(a)You may rent a reasonably equivalent substitute
residence and We will repay You for the actual rent
You pay, until the earlier of:
(i)the cause of the claim is removed; or
(ii)We pay You the amount required by this
Policy. If Your claim is covered only under
Covered Risk 16, 18, 19 or 21, that payment
is the amount of Your insurance then in force
for the particular Covered Risk.
(b)We will pay reasonable costs You pay to relocate
any personal property You have the right to
remove from the Land, including transportation of
that personal property for up to twenty-five (25)
miles from the Land, and repair of any damage to
that personal property because of the relocation.
The amount We will pay You under this paragraph
is limited to the value of the personal property
before You relocate it.
d.All payments We make under this Policy reduce the Policy
Amount then in force, except for costs, attorneys' fees and
expenses. All payments We make for claims which are
covered only under Covered Risk 16, 18, 19 or 21 also
reduce Our Maximum Dollar Limit of Liability for the
particular Covered Risk, except for costs, attorneys’ fees and
expenses.
e.If We issue, or have issued, a Policy to the owner of a
Mortgage that is on Your Title and We have not given You
any coverage against the Mortgage, then:
(1)We have the right to pay any amount due You under
this Policy to the owner of the Mortgage, and any
amount paid shall be treated as a payment to You
under this Policy, including under Section 4.a. of these
Conditions;
CONDITIONS (Continued)
Form 5020500 (7-1-14)Page 6 ALTA Homeowner’s Policy of Title Insurance (Rev. 2-3-10)
(2)Any amount paid to the owner of the Mortgage shall be
subtracted from the Policy Amount then in force; and
(3)If Your claim is covered only under Covered Risk 16,
18, 19 or 21, any amount paid to the owner of the
Mortgage shall also be subtracted from Our Maximum
Dollar Limit of Liability for the particular Covered Risk.
f.If You do anything to affect any right of recovery You may
have against someone else, We can subtract from Our
liability the amount by which You reduced the value of that
right.
7.TRANSFER OF YOUR RIGHTS TO US
a.When We settle Your claim, We have all the rights and
remedies You have against any person or property related to
the claim. You must not do anything to affect these rights
and remedies. When We ask, You must execute documents
to evidence the transfer to Us of these rights and remedies.
You must let Us use Your name in enforcing these rights and
remedies.
b.We will not be liable to You if We do not pursue these rights
and remedies or if We do not recover any amount that might
be recoverable.
c.We will pay any money We collect from enforcing these
rights and remedies in the following order:
(1)to Us for the costs, attorneys’ fees and expenses We
paid to enforce these rights and remedies;
(2)to You for Your loss that You have not already
collected;
(3)to Us for any money We paid out under this Policy on
account of Your claim; and
(4)to You whatever is left.
d.If You have rights and remedies under contracts (such as
indemnities, guaranties, bonds or other policies of insurance)
to recover all or part of Your loss, then We have all of those
rights and remedies, even if those contracts provide that
those obligated have all of Your rights and remedies under
this Policy.
8.THIS POLICY IS THE ENTIRE CONTRACT
This Policy, with any endorsements, is the entire contract
between You and Us. To determine the meaning of any part of
this Policy, You must read the entire Policy and any
endorsements. Any changes to this Policy must be agreed to in
writing by Us. Any claim You make against Us must be made
under this Policy and is subject to its terms.
9.INCREASED POLICY AMOUNT
The Policy Amount then in force will increase by ten percent
(10%) of the Policy Amount shown in Schedule A each year for
the first five years following the Policy Date shown in Schedule A,
up to one hundred fifty percent (150%) of the Policy Amount
shown in Schedule A. The increase each year will happen on the
anniversary of the Policy Date shown in Schedule A.
10.SEVERABILITY
If any part of this Policy is held to be legally unenforceable, both
You and We can still enforce the rest of this Policy.
11.ARBITRATION
a.If permitted in the state where the Land is located, You or
We may demand arbitration.
b.The law used in the arbitration is the law of the state where
the Land is located.
c.The arbitration shall be under the Title Insurance Arbitration
Rules of the American Land Title Association (“Rules”). You
can get a copy of the Rules from Us.
d.Except as provided in the Rules, You cannot join or
consolidate Your claim or controversy with claims or
controversies of other persons.
e.The arbitration shall be binding on both You and Us. The
arbitration shall decide any matter in dispute between You
and Us.
f.The arbitration award may be entered as a judgment in the
proper court.
12.CHOICE OF LAW
The law of the state where the Land is located shall apply to this
policy.
In Witness Whereof, First American Title Insurance Company has caused its corporate name to be hereunto affixed by its authorized officers as of
Date of Policy shown in Schedule A.
First American Title Insurance Company
Dennis J. Gilmore
President
Timothy Kemp
Secretary
(This Policy is valid only when Schedules A and B are attached) This jacket was created electronically and constitutes an original document
Copyright 2006-2010 American Land Title Association. All rights reserved. The use of this form is restricted to ALTA licensees and ALTA members in good standing as of the date of use.
All other uses are prohibited. Reprinted under license from the American Land Title Association
Form 5020500-A (7-1-14)Page 1 ALTA Homeowner’s Policy of Title Insurance (Rev. 2-3-10)
Schedule A
Homeowner’s Policy of Title Insurance
For a One-To-Four Family Residence
ISSUED BY
First American Title Insurance Company
POLICY NUMBEREagle Schedule A 5020500-0570277e
Name and Address of Title Insurance Company: FIRST AMERICAN TITLE INSURANCE COMPANY, 1 First American
Way; Santa Ana, California 92707
Order No.: 40199203-800-T36-BH Premium: $3,218.00
Policy Amount: $1,750,000.00 Policy Date (and Time): July 2, 2018 at 4:42 PM
Deductible Amounts and Maximum Dollar Limits of Liability for Covered Risk 16, 18, 19, and 21:
Your Deductible Amount Our Maximum Dollar Limit of Liability
Covered Risk 16: 1% of Policy Amount Shown in Schedule A
or
$2,500
(whichever is less)
$10,000
Covered Risk 18:1% of Policy Amount Shown in Schedule A
or
$5,000
(whichever is less)
$25,000
Covered Risk 19:1% of Policy Amount Shown in Schedule A
or
$5,000
(whichever is less)
$25,000
Covered Risk 21:1% of Policy Amount Shown in Schedule A
or
$2,500
(whichever is less)
$5,000
Street Address of the Land:
3901 Lake Washington Blvd N, Renton, WA 98056
1.Name of Insured:
Ryan J Asdourian and Ashley Asdourian, husband and wife
2.Your interest in the Land covered by this Policy is:
A FEE
3.The Land referred to in this Policy is described as:
See Exhibit A attached hereto and made a part hereof.
By:
Authorized Countersignature
(This Schedule A valid only when Schedule B is attached)
Homeowner’s Policy of Title Insurance
For a One-To-Four Family Residence
ISSUED BY
First American Title Insurance Company
POLICY NUMBEREagle Schedule A
(Continued)5020500-0570277e
Order No.: 40199203-800-T36-BH
Form 5020500-A (7-1-14)Page 2 ALTA Homeowner’s Policy of Title Insurance (Rev. 2-3-10)
Schedule A
Form 5020500-A (7-1-14)Page 3 ALTA Homeowner’s Policy of Title Insurance (Rev. 2-3-10)
Exhibit A
Homeowner’s Policy of Title Insurance
For a One-To-Four Family Residence
ISSUED BY
First American Title Insurance Company
POLICY NUMBEREagle Exhibit A 5020500-0570277e
LEGAL DESCRIPTION
Order No.: 40199203-800-T36-BH
THE LAND REFERRED TO HEREIN BELOW IS SITUATED IN THE COUNTY OF KING, STATE OF WASHINGTON,
AND IS DESCRIBED AS FOLLOWS:
LOTS 14 AND 15 IN BLOCK A OF HILLMAN’S LAKE WASHINGTON GARDEN OF EDEN ADDITION TO SEATTLE,
DIVISION NO. 2, AS PER PLAT RECORDED IN VOLUME 11 OF PLATS, PAGE 64, RECORDS OF KING COUNTY
AUDITOR;
TOGETHER WITH SECOND CLASS SHORELANDS ADJOINING;
SITUATE IN THE CITY OF RENTON, COUNTY OF KING, STATE OF WASHINGTON.
APN: 3342700070
Form 5020500-B (7-1-14)Page 4 ALTA Homeowner’s Policy of Title Insurance (Rev. 2-3-10)
Schedule B
Homeowner’s Policy of Title Insurance
For a One-To-Four Family Residence
ISSUED BY
First American Title Insurance Company
POLICY NUMBEREagle Schedule B 5020500-0570277e
EXCEPTIONS
Order No.: 40199203-800-T36-BH
In addition to the Exclusions, You are not insured against loss, costs, attorneys’ fees, and expenses resulting from:
1.GENERAL PROPERTY TAXES AND SERVICE CHARGES, AS FOLLOWS, TOGETHER WITH INTEREST,
PENALTY AND STATUTORY FORECLOSURE COSTS, IF ANY, AFTER DELINQUENCY:
(1ST HALF DELINQUENT ON MAY 1; 2ND HALF DELINQUENT ON NOVEMBER 1)
TAX ACCOUNT NO.:3342700070
YEAR BILLED PAID BALANCE
2018 $16,056.45 $8,028.23 $8,028.22
TOTAL AMOUNT DUE, NOT INCLUDING INTEREST AND PENALTY: $8,028.22.
LEVY CODE:2100
ASSESSED VALUE LAND:$869,000.00
ASSESSED VALUE IMPROVEMENTS:$396,000.00
TOTAL ASSESSED VALUE:$1,265,000.00
2.EASEMENT AND THE TERMS AND CONDITIONS THEREOF:
PURPOSE:PUBLIC UTILITIES (WATER AND SEWER) AND ALL NECESSARY
APPURTENANCES THERETO
AREA AFFECTED:A PORTION OF SAID PREMISES
RECORDING NO.7203230356
3.EASEMENT AND THE TERMS AND CONDITIONS THEREOF:
PURPOSE:PUBLIC UTILITIES (WATER AND SEWER) AND ALL NECESSARY
APPURTENANCES THERETO
AREA AFFECTED:A PORTION OF SAID PREMISES
RECORDING NO.7203230371
4.MATTERS SET FORTH BY SURVEY:
RECORDED:MAY 11, 1992
RECORDING NO.:9205119002
5.CITY OF RENTON ORDINANCE NO. 4774 – LID 336 PROPERTY ASSESSMENT AND THE TERMS AND
CONDITIONS THEREOF:
RECORDED:APRIL 09, 1999
RECORDING NO.:9904091058
6.RIGHT OF THE STATE OF WASHINGTON IN AND TO THAT PORTION, IF ANY, OF THE LAND HEREIN
DESCRIBED WHICH LIES BELOW THE LINE OF ORDINARY HIGH WATER OF LAKE WASHINGTON.
Homeowner’s Policy of Title Insurance
For a One-To-Four Family Residence
ISSUED BY
First American Title Insurance Company
POLICY NUMBEREagle Schedule B
(Continued)5020500-0570277e
Order No.: 40199203-800-T36-BH
Form 5020500-B (7-1-14)Page 5 ALTA Homeowner’s Policy of Title Insurance (2-3-10)
Schedule B
7.RIGHTS OF STATE OF WASHINGTON TO THAT PORTION OF THE LAND, IF ANY, LYING IN THE BED OF
LAKE WASHINGTON, IF THAT WATERWAY IS NAVIGABLE.
8.RIGHTS AND EASEMENTS OF THE PUBLIC FOR COMMERCE, NAVIGATION, RECREATION AND
FISHERIES.
9.ANY RESTRICTIONS ON THE USE OF THE LAND RESULTING FROM THE RIGHTS OF THE PUBLIC OR
RIPARIAN OWNERS TO USE ANY PORTION WHICH IS NOW, OR HAS BEEN, COVERED BY WATER.
10.LOCATION OF THE LATERAL BOUNDARIES OF SECOND CLASS TIDELANDS AND SHORELANDS.
11.DEED OF TRUST AND THE TERMS AND CONDITIONS THEREOF:
GRANTOR:RYAN J ASDOURIAN AND ASHLEY M ASDOURIAN, HUSBAND AND WIFE
TRUSTEE:FIRST AMERICAN TITLE INSURANCE COMPANY
BENEFICIARY:BANK OF AMERICA, N.A.
ORIGINAL AMOUNT:$1,400,000.00
DATED:JUNE 30, 2018
RECORDED:JULY 2, 2018
RECORDING NO.:20180702001551