HomeMy WebLinkAboutWarranty Deed 89- Sager, George & Catherine Deed
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FILM 109 PAGE 723
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,... WARRANTY DEED
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rA GEORGE W. SAGER and CATHERINE MAE SAGER of 7199 Walker Road,
I Bozeman, Montana 59715, GLEN E. SAGER and SANDRA L. SAGER of 8800
.- Nash Road, Bozeman, Montana 59715, DAVID A. SAGER and SHARON SAGER
~ of 2904 General Samuels Road, Jacksonville, Arkansas 72076, and
<t MARTIN B. JOHNSTON and BETTY V. JOHNSTON of Silvarado Oaks, 338
Deer Hollow Drive, Napa, California 94558, herein referred to as
Grantor, whether one or more, in consideration of ONE DOLLAR AND
OTHER VALUABLE CONSIDERATIONS, does hereby grant, warrant and
confirm unto the CITY OF BOZEMAN, MONTANA, a municipal corporation
and political subdivision of the State of Montana, c/o City
Offices, 411 East Main, P.O. Box 640, Bozeman, Montana 59715,
herein referred to as Grantee, whether one or more, and to
Grantee's successors and assigns forever, all of the following real
property in Gallatin County, Montana:
Tract 6 of Certificate of Survey No. 1103, located in
the SW~ of Section 5, and in the SE~ of Section 6,
Township 3 South, Range 6 East, P.M.M., Gallatin County,
Montana, according to the official plat thereof on file
and of record in the office of the County Clerk and
Recorder of Gallatin County, Montana.
TOGETHER WITH all tenements, hereditaments and
appurtenances thereto, and all reversions and remainders,
and all rents, issues and profits thereof, and all right,
title and interest of the Grantor therein, including
easements and rights-of-way for access and utilities
shown on the public records or plats filed or recorded
with the Clerk and Recorder of Gallatin County, Montana.
SUBJECT TO:
( a) easements, covenants, conditions, restrictions and rights-
of-way shown or indicated in the public records or plats filed or
recorded in the office of the County Clerk and Recorder of Gallatin
County, Montana, or which may be ascertained from a visual
inspection of the land, including ditch and utility rights-of-way
and easements;
(b) reservations or exceptions in patents or in Acts
authorizing the issuance thereof; water rights, claims of title to
water, claims to minerals, mineral rights, or related matters,
including but not limited to, oil, gas, coal and other
hydrocarbons;
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. '109rAGE 724
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(c) taxes and other governmental charges and assessments
accrued or imposed after the date hereof, including Gallatin
Conservation District, Sourdough Fire and Hyali te Zoning, which
Grantees assume and agree to pay as of the date hereof;
(d) land use restrictions, if any, and sanitary restrictions;
TO HAVE AND TO HOLD all and singular the said premises
together with tenements, hereditaments and appurtenances unto the
Grantees, as joint tenants with right of survivorship and not as
tenants in common, and to the heirs and assigns of the survivor
forever.
Grantor covenants with Grantees that the former is now seized
in fee simple of the property granted; that the latter shall enjoy
the same without any lawful disturbance; that the same is free from
all encumbrances; that Grantor and all persons acquiring any
interest in the same through or for him will, on demand, execute
and deliver to Grantees, at the expense of the latter, any further
assurance of the same that may be reasonably required; and that
Grantor will warrant to Grantees all of the said property against
every person lawfully claiming the same.
IN WITNESS WHEREOF, this
daj of NOVember,~9.
&1Iwvvl1N1~ / ~
CAT ERINE MAE SAGER / GEAZl~R
ANDRA L. SAG R GLEN ij SA~ .. ~ xtz aaz
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DAVI.t1i. SAGER
S RON SAGER V
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M/fd/-t-1A,. ~ >>pllt.V~~,
BETTY MART~. JOMNSTON V ~ ~
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her attorney-in-fact his a torney-in-fact '
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STATE OF MONTANA) H1.~ 109~wE 725
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County of Gallatin) /
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On this ~ day of Ne~8mber, 1989, before me, the
undersigned, a Notary Public in and for said State, personally
appeared Catherine Mae Sager and George W. Sager, known to me to
be the persons whose names are subscribed to the above instrument
and acknowledged to me that they executed the same.
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~.~. .if:t'.f\o~ESS WHEREOF, I have hereunto set by hand and seal this
~' and ~l:,..':,<first above written.
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STATE OF MONTANA )
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County of Gallatin ) j) I
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On this ~ day of Novomber, 1989, before me, the
undersigned, a Notary Public in and for said State, personally
appeared Glen E. Sager and Sandra L. Sager, known to me to be the
persons whose names are subscribed to the above instrument and
acknowledged to me that they executed the same.
IN WITNESS WHEREOF, I have hereunto set by hand and seal this
day and year first above written.
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fiLM 109 PAGE 726
STATE OF ARKANSAS )
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County of Pulaski )
On this ~day of November, 1989, before me, the
undersigned, a Notary Public in and for said State, personally
appeared Ba~id A. Ca~cr ana Sharon Sager, known to me to be the
perso~ whose name. ~ t~Cribed to the above instrument and
acknowledged to me that 0 executed the same for the purposes
therein contained, and known to me to be the person whose name is subscribed*
IN WITNESS WHEREOF, I have hereunto set by hand and seal this
day and year first above written.
.",~f/N~t}~; ;'P9N~,.'J1' NOTARY PUBLIC ~~f~
<(,' .f1)i:A.9Ir.l"~.X;"$ N IE or ARKANSAS
::.... .::.~fY1y ~O{l.1,;'f~... 'Jd'~<{'i!PJf1E S 3/7/95 ~OTARY PUBLIC for State of Mon~ana/~
Ii Q;'...., 0 'i"". \' \'. "'::;~
F ZlC' \ ' .; I' ". ~." Residing at
~';J.:, kJ;lOt'a't";Val\./S.. a1:0 My Commission expires
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;0~:P'tA;" ~()F,'}~~IJ'ANA )
.~:..^' .~" J~:~,I>,~,:;,(, ~ !.,:,',:,~..." ': ~:..f' : ss.
.Cll)urit~f Gallatin ) t€rt'~ lor-
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On this ~ day of tie.... em.beL , 1989, before me, the
undersigned, a otary Public in and for said State, personally
appeared Daniell D. Henderson, known to me to the person whose name
is subscribed to the within instrument as Attorney-in-Fact of
Martin B. Johnston and Betty V. Johnston, and acknowledged to me
that he ,subscribed the names of Martin B. Johnston and Betty V.
Johnston;.~reto as principals, and his own name as Attorney-in-
Fact. " " ,,::i~>.
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""""'~~'~':E.~ES'~';;~WHEREOF, I have hereunto set by hand and seal this
~.I-(tl:.. ' ~:b~f~.rst above written.
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*to the within instrument as attorney-in-fact of David A. Sager and acknowledged
to me that she subscribed his name thereto as principal and her own name as
attorney-in-fact, 206624 19 8f:~~
State of Mont., County of Gallatin. 5S Flied for record December 29th
,-
at . 3: 08PM" and r~=(;;'c3d in Doak 109 ~1l-;:;;/i;,. page 723
d,)1le.fh:y dl1. t!.~~M'J __ Recorder. By (. ~ Deputy
RT: American Land Title
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TRANSMITTAL LETTER
AMERICAN LAND TITLE COMPANY
IESTBROOI CDYER
1800 lEST lOCH
P.O. BOX 396
PHOIII (40t;) 587-5563
BOZIIWI. IIIITAJlA 59715
CITY OF BOZEMAN
411 EAST MAIN
P.O, BOX 640
BOZEMAN, MT 59715
ATTN: JIM WYSOCKI 3'{, eto
Date Out:
Order No.: 1-36357-B8
Reference: (City of Bzmn.)
In connection with the above transaction, we enclose:
( - ) Purchasers
(XXXX) Policy of Title Insurance (XXXX) OWners
( - ) Standard Loan
( - ) ALTA Loan
( - ) Vendor's Equity
( - ) Endorsement(s)
(XXXX) Deed Warranty Deed
( - ) Notice of Purchaser's Interest
( - ) Trust Indenture / Deed of Trust / Mortgage
( - ) Assignment
( ) Satisfaction / Reconveyance
-
(XXXX) Agreement to Amend the Declaration of Protective Covenants
( - )
( - )
( - )
( - ) Extra copies of documents which you requested
( -- ) Receipted Tax Bill
( - ) Bill
( - ) Refund: our Check # in the amount of $
Thank you for giving us the opportunity of serving you.
AMERICAN LARD TITLE COMPANY
7CLM
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> @ CbigIgo TItle InsI1l"llDCe
COmpany of Idaho
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POLICY OF TITLE INSURANCE
27 3391 93 001649
CmCAGO TITLE INSURANCE COMPANY OF IDAHO
SUBJECT TO THE EXCLUSIONS FROM COVERAGE, THE EXCEPTIONS FROM COVERAGE CONTAINED
IN SCHEDULE B AND THE CONDITIONS AND STIPULATIONS, CHICAGO TITLE INSURANCE
COMPANY OF IDAHO, an Idaho corporation, herein called the Company, insures, as of Date of Policy
shown in Schedule A, against loss or damage, not exceeding the Amount of Insurance stated in Schedule
" A, sustained or incurred by the insured by reason of:
1. Title to the estate or interest described in Schedule A being vested other than as stated therein;
2. Any defect in or lien or encumbrance on the title;
3. Unmarketability of the title;
4. Lack of a right of access to and from the land.
The Company will also pay the costs, attorneys' fees and expenses incurred in defense of the title, as
insured, but only to the extent provided in the Conditions and Stipulations.
CmCAGO TITLE INSURANCE COMPANY OF IDAHO
Issued by: By:
AMERICAN LAND
TITLE COMPANY
Westbrook Center - 1800 W, Koch
p, O. Box 396
Bozeman, Montana 59715 ,;<<.W;\I;\\lI.Mmijillllll1il/m.
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Phone: (406) 587-5563 G ...":~~"",, \
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ALTA OWNER'S POLICY (10-21-87) ,..",...."..,.;'
Sec:retar)'
Reorder Form No. 9103 (Rev. 10-87)
EXCLUSIONS FROM COVERAGE
The following matters are ex~resslY excluded from the coverage of this polley and the Company will not pay loss or damage, costs,
attorneys' fees or expenses w ich arise by reason of:
1. (a) Any law, ordinance or governmental regulation (Including but not limited to building and zoning laws, ordinances, or
regulations) restricting, regulating, "rOhlbltlng or relating to (i) the occupancy, use, or enloyment of the land; (II) the
character, dimensions or location 0 any Imfrovement now or hereafter erected on the land; (ill) a separation in owner.
ship or a change In the dimensions or area 0 the land or any parcel of which the land Is or was a part; or (Iv) environmen-
tal protection, or the effect of any violation of these laws, ordinances or governmental regulations, except to the extent
that a notice of the enforcement thereof or a notice of a defect, lien or encumbrance resulting from a violation or alleged
violation affecting the land has been recorded In the public records at Date of Polley.
(b) Any governmental police power not excluded by (a) above, except to the extent that a notice of the exercise thereof
or a notice of a defect, lien or encumbrance resulting from a violation or alleged violation affecting the land has been
recorded In the public records at Date of Polley.
2. Rights of eminent domain unless notice of the exercise thereof has been recorded In the public records at Date of Polley,
but not excludin?c from coverage any taking which has occurred prior to Date of Polley which would be binding on the rights
of a purchaser or value without knowledge.
3. Defects, liens, encumbrances, adverse claims or other matters:
(a) created, suffered, assumed or agreed to by the Insured claimant;
(b) not known to the Company, not recorded in the public records at Date of Polley, but known to the Insured claimant
and not disclosed In writing to the Company by the Insured claimant prior to the date the Insured claimant became
an Insured under this policy;
(c) resulting In no loss or damage to the insured claimant;
(d) attaching or created subsequent to Date of Polley; or
(e) resulting In loss or dama~e which would not have been sustained if the Insured claimant had paid value for the estate
or Interest Insured by th s policy.
CONDITIONS AND STIPULATIONS
1. DEFINITION OF TERMS
The followin~ terms when used in this POIid: mean: If prompt notice shall not be given to the Company, then as to the insured
(a) "insured': the insured named in Sche ule A, and, subject to ad: all liability of the Company shall terminate with reaard to the matter or mat-
rights or defenses the Company would have had against the nam~d insure , ters for which prompt notice is required; provide , however, that failure to
those who succeed to the interest of the named insured bh operation of law notify the Company shall in no case prejudice the rights of any insured under
as distinguished from purchase including, but not limited to, eirs, distributees, this policy unless the Company shall be prejudiced by the failure and then
devisees, survivors, personal representatives. next of kin, or corporate or only to the extent of the prejudice.
fiduciary successors. 4. DEFENSE AND PROSECUTION OF ACTIONS; DUTY OF INSURED
(b) "insured claimant": an insured claiming loss or damage. CLAIMANT TO COOPERATE
(c) "knowledge" or "known": actual knowledge, not constructive (a) Upon written request be the insured and subject to the options con-
knowledge or notice which may be imputed to an insured by reason of the tained in Section 6 of these onditions and Stipulations, the Company, at
public records as defined in this policy or any other records which impart
constructive notice of matters affecting the land. its own cost and without unreasonable delay, shall provide for the defense
(d) "land": the land described or referred to in Schedule A, and im- of an insured in litigation in which any third party asserts a claim adverse
provements affixed thereto which by law constitute real property. The term to the tille or interest as insured, but only as to those stated causes of action
"land" does not include any property beyond the lines of the area describ- alleging a defect, lien or encumbrance or other matter insured against by
ed or referred to in Schedule A, nor any right, title, interest, estate or ease- this policy. The Company shall have the right to select counsel
ment in abutting streets, roads, avenues, alleys, lanes, ways or waterways, of its choice (subject to the right of the insured to object for reasonable cause)
but nothing herein shall modify or limit the extent to which a right of access to represent the insured as to those stated causes of action and shall not
to and from the land is insured by this policy. be liable for and will not pay the fees of any other counsel. The Company
(e) "mortgage"; mortgage, deed of trust, trust deed, or other security will not pay any fees, costs or expenses incurred by the insured in the defense
instrument. of those causes of action which allege matters not insured against by this
(f) "public records": records established under state statutes at Date policy.
of Policy for the purpose of imparting constructive notice of matters relating (b) The Company shall have the right, at its own cost, to institute and pros-
to real property to purchasers for value and without knowledge. With respect ecute any action or proceeding or to do anh other act which in its opinion
to Section 1 (a)(iv) of the Exclusions From Coverage, "public records" shall may be necessary or desirable to establish t e title to the estate or interest,
also include envirilnmental protection liens filed in the records of the clerk as insured, or to prevent or reduce loss or damage to the insured. The Com-
of the United States district court for the district in which the land is located. pany may take any appropriate action under the terms of this policy, whether
(g) "unmarketability of the title": an alleged or apparent matter affecting or not it shall be liable hereunder, and shall not thereby concede liability
the title to the land, not excluded or excepted from coverage, which would or waive any provision of this policy. If the Company shall exercise its rights
entille a purchaser of the estate or interest described in Schedule A to be under this paragraph, it Shall do so diligenlly.
released from the obligation to purchase by virtue of a contractual condition dC) Whenever the Company shall have brought an action or interposed
requiring the delivery of marketable tille. a efense as required or permitted by the provisions of this policy, the Com.
2. CONTINUATION OF INSURANCE AFTER CONVEYANCE OF TITLE pany may pursue any litigation to final determination by a court of compe-
tent jurisdiction and expressly reserves the right, in its sole discretion, to
The coverage of this policy shall continue in force as of Date of Policy appeal from any adverse judgment or order.
in favor of an insured only so long as the insured retains an estate or in-
terest in the land, or holds an indebtedness secured by a purchase money (d) In all cases where this policy permits or requires the Company to pros-
mortgage given by a purchaser from the insured, or only so long as the ecute or provide for the defense of any action or proceeding, the insured
insured shall have liability by reason of covenants of warranty made by the shall secure to the Company the right to so prosecute or provide defense
insured in any transfer or conveyance of the estate or interest. This policy in the action or proceeding, and all appeals therein, and permit the Com-
shall not continue in force in favor of any purchaser from the insured of pany to use, at its ~tion, the name of the insured for this purpose. Whenever
either (i) an estate or interest in the land, or (ii) an indebtedness secured requested by the ompany, the insured, at the Company's expense, shall
by a purchase money mortgage given to the insured. give the Company all reasonable aid (i) in any action or proceeding, secur- j
ing evidence, obtaining witnesses, prosecuting or defending the action or
3. NOTICE OF CLAIM TO BE GIVEN BY INSURED CLAIMANT proceeding, or effecting settlement, and (ii) in any other lawful act which
The insured shall notify the Company promptly in writing (i) in case of in the opinion of the Company may be necessary or desirable to establish
any litigation as set forth in Section 4(a) below, (ii) in case knowledge shall the tille to the estate or interest as insured. If the Company is prejudiced
come to an insured hereunder of any claim of tille or interest which is adverse by the failure of the insured to furnish the required cooperation, the Com-
to the tille to the estate or interest, as insured, and which might cause loss pany's obligations to the insured under the policy shall terminate, including
or damage for which the Company may be liable by virtue of this policy, any liability or obligation to defend, prosecute, or continue any litigation,
or (iii) if title to the estate or interest, as insured, is rejected as unmarketable. with regard to the matter or matters requiring such cooperation.
, CONDITIONS AND STIPULATIONS - ( Continued and Concluded on Last Page of this Policy)
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CONDITIONS AND STIPULATIONS. (Continued lrom Reverse Side 01 Policy Face )
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5. PROOF OF LOSS OR DAMAGE
In addition to and after the notices required under Section 3 of these Con- amount of insurance at Date of Policy bears to the total value of the
ditions and Stipulations have been provided the Company, a proof of loss insured estate or interest at Date of Policy; or
or damage signed and sworn to by the insured claimant shall be furnished (ii) where a subsequent improvement has been made, as to any partial
to the Company within 90 days after the insured claimant shall ascertain loss, the Company shall only pay the loss pro rata in the proportion that
the facts giving rise to the loss or damage. The proof of loss or damage 120 percent of the Amount of Insurance stated in Schedule A bears to the
shall describe the defect in, or lien or encumbrance on the title, or other sum of the Amount of Insurance stated in Schedule A and the amount ex-
matter insured a~ainst by this policy which constitutes the basis of loss or pended for the improvement.
damage and sha I state, to the extent80ssible, the basis of calculating the The provisions of this paragraPh shall not apply to costs, attorneys' fees
amount of the loss or damage. If the ompany is prejudiced by the failure and expenses for which the ompany is liable under this policy, and shall
of the insl,lred claimant to provide the required proof of loss or damage, the only apply to that portion of any loss which exceeds, in the aggregate, 10
Company's obli~ations to the insured under the policy shall terminate, in- percent of the Amount of Insurance stated in Schedule A.
cluding any liabi ity or obligation to defend, prosecute, or continue any Iitiga- (c) The Company will pay only those costs, attorneys' fees and expenses
tion, with regard to the matter or matters requiring such proof of loss or incurred in accordance with Section 4 of these Conditions and Stipulations.
dama~e. 8. APPORTIONMENT
In ad Ition, the insured claimant may reasonably be required to submit to If the land described in Schedule A consists of two or more parcels which
examination under oath by any authorized representative of the Company are not used as a single site, and a loss is established affecting one or more
and shall produce for examination, inspection and copying, at such reasonable of the parcels but not all, the loss shall be computed and settled on a pro
times and places as may be designated by any authorized representative rata basis as if the amount of insurance under this policy was divided pro
of the Company, all records, books, ledgers, checks, correspondence and rata as to the value on Date of Policy of each separate parcel to the whole,
memoranda, whether bearing a date before or after Date of Policy, which exclusive of any improvements made subsequent to Date of Policy, unless
reasonably pertain to the loss or damage. Further, if requested by any autho- a liability or value has otherwise been agreed upon as to each parcel by
rized representative of the Company, the insured claimant shall grant its the Company and the insured at the time of the issuance of this policy and
permiSSion, in writing, for any authorized representative of the Company shown by an express statement or by an endorsement attached to this policy.
to examine, inspect and copy all records, books, ledgers, checks, cor-
respondence and memoranda in the custody or control of a third party, which 9. LIMITATION OF LIABILITY
reasonably pertain to the loss or damage. All information designated as con- (a) If the Company establishes the title, or removes the alleged defect,
fidential by the insured claimant provided to the Company pursuant to this lien or encumbrance, or cures -,he lack of a right of access to or from the
Section shall not be disclosed to others unless, in the reasonable jud~ment land, or cures the claim of un marketability of title, all as insured, in a
of the Company, it is necessary in the administration of the claim. ailure reasonably diligent manner by any method, including litigation and the com-
of the insured claimant to submit for examination under oath, produce other pletion of any appeals therefrom, it shall have fully performed its obligations
reasonably requested information or grant permission to secure reasonably with respect to that matter and shall not be liable for any loss or damage
necessary information from third parties as required in this paragraph shall caused thereby.
terminate any liability of the Company under this policy as to that claim. (b) In the event of any liti~ation, including Iiti~ation by the Compan~ or
6. OPTIONS TO PAY OR OTHERWISE SETTLE CLAIMS; TERMINATION with the Company's consen , the Company sha I have no liability for oss
or damage until there has been a final determination by a court of compe-
OF LIABILITY tent jurisdiction, and disposition of all appeals therefrom, adverse to the title
In case of a claim under this policy, the Company shall have the following as insured.
additional options: (c) The Company shall not be liable for loss or damage to any insured
~) To Payor Tender Payment of the Amount of Insurance. for liability voluntarily' assumed by the insured in settling any claim or suit
o payor tender payment of the amount of insurance under this ~oIiCY without the prior wntten consent of the Company.
together with any costs, attorneys' fees and expenses incurred by t e in- 10. REDUCTION OF INSURANCE; REDUCTION OR TERMINATION OF
sured claimant, which were authorized by the Company, up to the time of
payment or tender of payment and which the Company is obligated to pay. LIABILITY
Upon the exercise by the Company of this option, all liability and obliga- All payments under this policy, except payments made for costs, attorneys'
tions to the insured under this policy, other than to make the payment re- fees and expenses, shall reduce the amount of the insurance pro tanto.
quired, shall terminate, including a"J liabilitK, or obligation to defend, pros- 11. LIABILITY NONCUMULATIVE
ecute, or continue any litigation, an the po ICY shall be surrendered to the It is expressly understood that the amount of insurance under this policy
Company for cancellation. shall be reduced by any amount the Company may pay under any policy
(b) To Payor Otherwise Settle With Parties Other than the Insured insuring a mortgage to which exception is taken in Schedule B or to which
or With the Insured Claimant. the insured has agreed, assumed, or taken subject, or which is hereafter
(i) to payor otherwise settle with other parties for or in the name of an executed by an insured and which is a charge or lien on the estate or in-
insured claimant any claim insured against under this policy, together with terest described or referred to in Schedule A, and the amount so paid shall
any costs, attorneys' fees and expenses incurred by the insured claimant be deemed a payment under this policy to the insured owner.
which were authOrized by the Company up to the time of payment and which 12. PAYMENT OF LOSS
the Company is obligated to pay; or (a) No Rayment shall be made without producing this policy for endorse-
(ii) to kay or otherwise settle with the insured claimant the loss or damage ment of t e payment unless the policy has been lost or destroyed, in which
provided or under this policy, together with any costs, attorneys' fees and case proof of loss or destruction shall be furnished to the satisfaction of
expenses incurred by the insured claimant which were authorized by the the Company.
Company up to the time of payment and which the Company is obligated (b) When liability and the extent of loss or damage has been definitely
to pay. fixed in accordance with these Conditions and Stipulations, the loss or damage
Upon the exercise by the Company of either of the options provided for shall be payable within 30 days thereafter.
in para~ra~hs (b)(il or (ii), the Company's obligations to the insured under
this policy or the c aimed loss or damage, other than the payments required 13. SUBROGATION UPON PAYMENT OR SETTLEMENT
to be made, Shall terminate, including any liability or obligation to defend, (a) The Company's Right of Subrogation.
prosecute or continue any litigation. Whenever the Company shall have settled and paid a claim under this
7. DETERMINATION, EXTENT OF LIABILITY AND COINSURANCE policy, all right of subrogation shall vest in the Company unaffected by any
This policy is a contract of indemnity against actual monetary loss or act of the insured claimant.
damage sustained or incurred by the insured claimant who has suffered The Company shall be subrogated to and be entitled to all rights and
loss or damage by reason of matters insured against by this policy and only remedies which the insured claimant would have had against any person
to the extent herein described. or property in respect to the claim had this pOIiC~ not been issued. If re-
(a) The liability of the Company under this policy shall not exceed the least quested by the Company, the insured claimant s all transfer to the Com-
of: pany all rights and remedies against any person or property necessary in
(i) the Amount of Insurance stated in Schedule A; or, order to perfect this right of subrogation. The insured claimant shall permit
(ii) the difference between the value of the insured estate or interest the Company to sue, compromise or settle in the name of the insured claim-
as insured and the value of the insured estate or interest subject to the defect, ant and to use the name of the insured claimant in any transaction or litiga-
lien or encumbrance insured against by this policy. tion involving these rights or remedies.
(b) In the event the Amount of Insurance stated in Schedule A at the Date If a payment on account of a claim does not fully cover the loss of the
of Policy is less than 80 percent of the value of the insured estate or interest insured claimant, the Company shall be subrogated to these ri~hts and
or the full consideration paid for the land, whichever is less, or if subsequent remedies in the proportion which the Company's payment bears to t e whole
to the Date of Policy an improvement is erected on the land which increases amount of the loss.
the value of the insured estate or interest by at least 20 ~ercertt over the If loss should result from an~ act of the insured claimant, as stated above,
Amount of Insurance stated in Schedule A, then this Po icy is subject to that act shall not void this po ICy, but the Company, in that event, shall be
the following: required to pay only that part of any losses insured against by this policy
(i) where no subsequent improvement has been made, as to any partial which shall exceed the amount if any, lost to the Company by reason of
loss, the Company shall only pay the loss pro rata in the proportion that the the impairment by the insured claimant of the Company's right of subrogation.
CONTINUED AND STIPULATIONS - ( Continued and Concluded From Reverse Side)
(b~ The Company's Rights Against Non-Insured Obligors. 15. LIABILITY LIMITED TO THIS POLICY; POLICY ENTIRE CONTRACT
he Company's right of subrogation against non-insured obligors shall (a) This policy together with all endorsements, if any, attached hereto by
exist and shall include, without limitation, the rights of the insured to indem- the Company is the entire policy and contract between the insured and the
nities, guaranties, other policies of insurance or bonds, notwithstanding any Company. In interpreting any provision of this policy, this policy shall be
terms or conditions contained in those instruments which provide for subroga- construed as a whole.
tion rights by reason of this policy. (b) Any claim of loss or damage, whether or not based on negligence,
14. ARBITRATION and which arises out of the status of the title to the estate or interest covered
Unless prol;1ibited by applicable law, either the Company or the insured hereb~ or by an~ action asserting such claim, shall be restricted to this policy.
may demand 'arbitration pursuant to the Title Insurance Arbitration Rules (c) 0 amen ment of or endorsement to this policy can be made except
of the American Arbitration Association. Arbitrable matters may include, but by a writing endorsed hereon or attached hereto signed by either the Presi-
are not limited to, anl controversy or claim between the companC and the dent, a Vice President, the Secretary, an Assistant Secretary, or validating
insured arising out 0 or relating to this POIiCX' any service of the ompany officer or authorized signatory of the Company.
in connection with its issuance or the breac of a policy provision or other 16. SEVERABILITY
obligation. All arbitrable matters when the Amount of Insurance is $1 ,000,000 In the event any provision of the policy is held invalid or unenforceable
or less shall be arbitrated at the option of either the Company or the in- under applicable law, the policy shall be deemed not to include that provi"
sured. All arbitrable matters when the Amount of Insurance is in excess of sion and all other provisions shall remain in full force and effect.
$1,000,000 shall be arbitrated only when agreed to by both the Company 17. NOTICES, WHERE SENT
and the insured. Arbitration pursuant to this policy and under the Rules in All notices required to be given the Company and any statement in writing
effect on the date the demand for arbitration is made or, at the option of required to be furnished the com8any shall include the number of this policy
the insured, the Rules in effect at Date of Policy shall be binding upon the and shall be addressed to the ompany at:
parties. The award may include attorneys' fees only if the laws of the state
in which the land is located permit 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. Chicago Title Insurance Company of Idaho
The law of the situs of the land shall apply to an arbitration under the 960 Broadway
Title Insurance Arbitration Rules. Suite 440
A copy of the Rules may be obtained from the Company upon request. Boise, Idaho 83706
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OWNERS
SCHEDULE A
Office File Number Policy Number Date of Policy Amount of Insurance Premium
December 29. 1989
1-36357-88 27-3391-93-001649 at 3:09 P.M. $80,000.00 $410.00
1. Name of Insured:
CITY OF BOZEMAN, MONTANA
2. The estate or interest in the land which is covered by this policy is:
fee simple
3. Title to the estate or interest in the land is vested in:
City of Bozeman, Montana, a municipal corporation
4. The land referred to in this policy Is described as follows:
Tract 6 of Certificate of Survey No. 1103, located in the SW~ of Section 5, and in the SE~
of Section 6, Township 3 South, Range 6 East, P.M.M., Gallatin County, Montana, according
to the official plat thereof on file and of record in the office of the County Clerk and
Recorder of Gallatin County, Montana,
SCHEDULE A
AL!A Owner's Policy 6-1-87
Reorder Form No. 11106
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EXCEPTIONS FROM COVERAGE . .
poncy Nb.: 27-3391-93-001649
File No.: 1-36357-BS
SCHEDULE B
This policy does not insure against loss or damage (and the Company will not pay costs, attorneys' fees or
expenses) which arise by reason of:
GENERAL EXCEPTIONS
l. Rights or claims of parties in possession not shown by the public records.
2. Encroachments, overlaps, boundary line disputes. and any other matters which would be disclosed by an
accurate survey and inspection of the premises including, but not limited to, insufficient or impaired
access and matters contradictory to any survey plat shown by the public records.
3. Easements, or claims of easements. not shown by the public records.
4. Any lien, or right to lien, for services, labor, or material heretofore or hereafter furnished. imposed by
law and not shown by the public records.
5. (a) Unpatented mining claims: (b) reservations or exceptions in patents or in Acts authorizing the issuance
thereof; (c) water rights, claims or title to water, whether or not the matters excepted under (a), (b),
or (c) are shown by the public records.
6. Taxes or special assessments which are not shown as existing liens by the records of any taxing authority
that levies taxes or assessments, or notices of such proceedings, whether or not shown by the records of
such agency or by the public records.
SPECIAL EXCEPTIONS:
1. Except all minerals in or under said land including, but not limited to, metals. oil,
gas, coal, stone and mineral rights, mining rights and easement rights or other matters
relating thereto, whether expressed or implied.
2. Taxes for the year 1990 and subsequent years. Taxes for the year 1989 are paid.
Included within the General Taxes are Gallatin Conservation District. Sourdough Fire
and Hyalite Zoning.
3. Easement to The Montana Power Company, recorded October 23, 1983 at 10:30 A.M. in Film
79, page 2206, records of Gallatin County, Montana.
4. Easement to The Montana Power Company, recorded October 23, 1983 at 10:35 A.M. in Film
79, page 2207, records of Gallatin County, Montana.
5. Restrictive Covenants appearing of record in Film 75, page 1629, and Amendment
recorded in Film 109, page 727.
6. Easements as delineated on the recorded plat, including but not limited to 60' private
access and utility easements, and an existing 60' waterline easement.
7. Easement and Right of Way Agreement to The City of Bozeman, recorded August 15, 1957
in Book 17 of Miscellaneous, page 451, records of Gallatin County, Montana. Said
easement being for the purpose of installing, operating, using, repairing, replacing,
maintaining, and removing a water pipe line upon and across a 30 foot strip in the
EhSE~ of Section 6, Township 3 South, Range 6 East.
(continued)
SOIEDULE B (STANDARD COVERAGE)
ALTA Owner's Policy (10-21-87)
Reorder Form No. 9128
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CONTINUATION SHEET ..
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SCHEDULE B
F 11 e Number: 1-36357-85 Policy Number: 27-3391-93-001649
8. Easement and Right of Way Agreement to The City of Bozeman, recorded October 6, 1982
in Film 72, page 652, records of Gallatin County, Montana. Said easement being for a
water main across the E~SE~ of Section 6.
9. The effect of Judgment dated March 24, 1988 and contained in Court File No.
DV-86-1034. Mark Story Construction vs. City of Bozeman. Judgment against City of
Bozeman in the amount of $373,236.00 plus costs and interest.
10. The effect of Judgment dated July 2, 1984 and contained in Court File No. DV-82-479.
David L. Hunter, Commissioner, Department of Labor and Industry, etal vs. City of
Bozeman, eta 1 . Judgment against City of Bozeman in the amount of $17,554.76, plus
costs and interest,
7CLM/36300
Reorder Form No. 11119
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