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HomeMy WebLinkAboutSouthold Development Corp. (2) r .", :! r rilCl(-'-\1t"\'T\H\ I... ' : ,r' l'f' ) ,. I,. ,,'/\ /);\ 1(~i\I~~:~~' f<, ': rSll'"I' 1;1\1\11 Ii t1111' 'd. !,~I.I.1 lit i~I!_1 ;" :....1".. ~=It -==-- ./0 28~& t':f ~ Full Covenant.. Corporation. ~ , - , -- (: 1 ~.,.",. ..- tlllt~4578 PAGf14t ~bi~ 3Jnbenture, - Juuua .LU........ INC., LAw .LANK Pu......... 7'1 -.cu.DWAY AND , "'GTOR ST.. .... Y~K ;'23~ day 01 JlMuo,r; ,nineteen bundred ~ and flt'ty-__, ct') .ettueen SOUTHOL>> DBY.BLOPI8lNT COIlPOIlATION! ~ ) ) '\ ~1 +> .n. .... '" 4J v <ll '" ""ce:: a corporation organized undertbe law. 01 th. stat, of .e. York, having 1ts princ1pe.l place of blls1ne.. at Sou1hold, &iffolk O:>wlty, ... York, party 01 tbe first part, and rolli OP SOl1l'llOLD. a IIIWl1c1pBl corporation organized and ex1st1Dg under llDd by virtue of the Laws of the Stat. of .ew IOrk, bav1Dg its offices at Southold and at GI/eenport, SllffOlk CO\DJlty, )few York, part ~ of tbe second part, .ttnt~~tb,: tbat tbe party 01 the first part, in consideration 01 SBVIlN KUNIlE AND FIP'l'Y (trm.OO)----------------Dollars,lawlul money 01 the United States, paid by the part y 01 the second part, of the second part, do e. hereby grant and release unto the part y of the 1 ts successors and assigDS lorever, .au. tbBt tract or parcel of land situate, lying and beblg at Southold, 1111 the Tom of Southold, COunty of SUffolk II:I1ld Stat. of He. 1:0$, kDolll and de.igJlll.ted as Lot II". survey III8P entitled IlJep of 8lbd.lv1a1on mom as lennewood" ljIlI.de b.r Otto W. Van Tuyl " Son, Licensed Land Ibrveyors, dated January 9, 1954, lIIlIld filed 1n tbe ~folk County Clerk's Office on Marcn m, 11154, aa Jfap #1180. . TOGBTliBR with aill the right, title lIIlIld interest, if lIIIG", of the party of the first part in and to the b1ghwey in front of Bald prelll1ses to the eEllter line thereof. SJBJBCT to the covenants and restrietlClll1s. ) ) r I '" -.--- UBER4578 PAGE142 ...l '..r I I) i I I I I COVENANTS AND RESTRICTIONS I KENNEWOOD Southold I N. Y. The premises herein conveyed shal' be subject to the followin9 covenants and restrictions. 1. ItJIN\~'"I{'lHr''j''' NllrfIlflWAMI',NfIlY1HfI#ff J'1I 1f!f,rftllfflM 2. That no dwelling building sholl be erected on soid premises which sholl hove 0 habitable or living space of less than 750 square feet of floor area, nOr sha II any dwelling house hove 0 flat roof, unless approved by the party of the first port. All roofs sholl be of asbestos, cedar, composition shingle, or built-up type. All proposed plans to be submitted to the party of the first port for written approval and sholl be approved by the said party of the first port. Such written approval sholl not be unreosonably withheld. Plans to be submitted at the office of George W. Smith & Sons, Inc., Moin Street, Southold, New York. 3. No building or structure, whether the some be the main dwelling house or any garage, shed or any out- building sholl be built closer than five (5) feet from any boundary line and not closer than twenty (20) feet from the highway. 4. No outside toilets or waterclosets sholl be permitted to be erected on any port or 011 of the premises here- by conveyed. An odequote sewerage system sholl be constructed and maintained to toke core of the sewe rage d i sposa I. 5. No fowl, poultry, or livestock sholl be kept on the said premises except domestic household pets. 6. That neither the party of the second port nor his heirs, distributees or assigns, sholl Or will manufacture, or sell or couse or permit to be manufactured or sold, on any portion of the premises hereby conveyed, any goods or merchandise of any kind, and sholl not carryon, or permit to be carried on, on any port of said premises, any trode, business or profession whatsoever, or any boarding house; no trailers sholl be kept on soid premises unless kept within on enclosed garage. 7. The premises sholl be subject to electric, electric light, gas and telephone easements on the surface or below the surface along the public highway adjacent to said premises. 8. That neither the party of the second part nor his heirs, distributees or assigns, sholl or will permit any nuisance or noise, unwholesome and offensive to the persons occupying adjoining premises. No accum- ulation or rubbish, materials of ony kind, or junk sholl be permitted to remain on said premises 9. Not more than one (1) dwelling house sholl be erected on the said premises. 10. That the exterior of the dwelling house sholl be fully completed before occupancy os 0 dwelling house. 11. That the said covenants ore hereby declared to be covenants attached to and running with the land. The said covenants and restrictions may be released or altered by the party of the first port at any time. The said covenants and restrictions sholl cease and expire on January 1, 1979. / I , I I , G:oJttfJtr with the appurtenances and all the estate and rights f;)1 the party 01 the first part in and to said premises. GAJ fJabt llnb to bolb the premises hffreill granted unto the part 01 the second part, I- I I and assigu lorner. . ,. ~ . . the party of the first part covenants' as' fo/lows: 'UBER4578 PAGf143 ,;fif~. -That the party of the first part is seized of the said premises in fee simple, and has ,.. , good right to convey the same; 6ttonb. -That the part '7 of the second part shall quietly enjoy the said premises; ~irb. -That the said premises are free from incumbrances; .:fourQJ. -That the party of the first part will execute or procure any further necessary as- surance of the title to said premises; ..:tifQJ. -That the party of the first part will forever warrant the title to said premises; 6ixQJ.-The grantor, in compliance with Section 1J of the Lien Law. covenants that the grantor wi/l receive the consideration for this conveyance and will hold the right to receive such consideration as a trust fund to be applied first for the purpose of paying the cost of the improvement and that the grantor will apply the same first to the payment of the cost of the improvement before using any part of the total of the same for any other purpose. i AND the party of the firllt part does hereby release COTenant No. 1 from Ithe abOTe described premises. 1'1 Jft Bttnt!S!S Bbtttof, the party of the first part has caused its corporate seal to be hereunto aflixed, and these presents to be signed by its duly authorized o6icer the day and year first above written. I I I I f .::I1f.,p.feSente of: " . }, ~ \ \) . fJ( .:~...! .)" .~. \.. -. .~J\ :.''.)1 ". ...;" :; 1.1 i '.' v ...(.? i" ,;,'/ (' 'i'~ " r -.\. t- . ,? '.} '{.....f. ..~ '10":' i'I,:, '-'., [ ''';;'1.'''' STATE 01 NEW YORK, OOUIITY (ll SlJlI'K)IA, SS: On the ;<3J1::!:: day of r~~,].j~,before me C8me I*lilIBL T. SMI'l'H. to lie lmo_, who, being by IIl8 tbly sworn, did depose and ~ that be rea1des at Southold, Slffolk County, New York; that he is the Tr-'lIlIU'&r of SOUTHOLD DIVBLOPpNT MR1>ll1l1TIClI the co~onl.tion deacribed in, end lIhlch executed the foregoing instrument; that he latows the seal of sald OOol'porat1on; that the see.l affixed to sald iD8trument is such cor- porate seal; that it was so affixed ~ order of the board of Directors of said eor- poratim, ad that he s1gDed Ids nBae th'llreto by II order. SOtmlOLD DBVBLOP!.IINT CORP TION .................................h__......................... ..h.m.h....'m__.__.......h... BY~~~""" ................~~reB;m.er-..... RECOROED JAN 2 6 1959 @ftJ.o,.1I M. ALEX' JAE6ER a.. .. sullolk coo.'" Notary PUblic. ARTHUR F. GAG~ Notary Public, State of New York No. 52-135:':20J - 8nL:::~:: G::;~mty Commlsslo:l E:::)il'~s l\!c-.r. SQ, 19';'-" ,.. 6tate of €:ountp of On the day of } ss.: 19 before me came to me known, who, being by me duly sworn, did depose and say that he resides in that he is the of the corporation described in, and which eKecuted the foregoing instrument; that he knows the seal of said corporation; that the seal affixed to said instrument is sucb corporate seal; tbat it was so affixed by order pf the board of of said corporation; and that be signed b name tbereto by like order. ~ ~ ~ 8 o E-4 ! j , o II II: 11 .)\ \ ',"e< ~ ...., & .. 02, i ,--q "\n ~ i II: .'~-'n';" ~. " ,;. ~ 1.., ' ::' ;~\ \ .0 { \... J. I .8 I ('. . ,( .' ..y.J > . 1 "'" ~ ~ ~~ ~~ Jit)~ "-'. -~.-~;....- ~I ~ i ~ e,.i i a\",. ~ ~ = ~' ,~'~ ~ ~ ,,~~~ ~ i ~ 'jVI ~ ~ l ~~, = "t'~', ~j ~ ~ ' ,,,~\}-~, .. I ,~ '\' \ . ~ <! ~ ! I oJ :l IS .. r-- I I I I I I , I " , , i I , , I i GRIFFING, SMITH, TASKER AND LUNDBERG ATTORNEYS AND COUNSELORS AT LAW ROBERT P. GRIFFING 18BI-1Q~6 REGINALD C. SMITH HENRY TASKER SAMUEL L. HAYS ROBERT W. TASKER 425 MAIN STREET GREENPORT, N. Y. ARTHUR H. LUNDBERG COUNSEL January 29, 1959 Mr. Ralph Booth Town Clerk Main Road Southold, New York Dear Ralph: I enclose herewith deed dated January 23, 1959, from Southold Development Corporation to the Town of Southold conveying lot No. 14 at Kennewood. I also enclose a sub-division map of the premises in question. The deed has been recorded in the County Clerk's office in Liber 4578 page 141. As you will recall this lot was purchased for the sum of $750. to be used for highway drainage purposes. y~:~y~ Robert W. Tasker RWT:MY Enclosures .' .. . UBER4616 PAGE153 TOGETHER with all right, title and interest, if any, of the party of the first part in and to any streets and roads abutting the above described premises to the center lines thereof, TOGETHER with the appurtenances and all tbe estate and rights of the party of the first part in and to said premises, TO HAVE AND TO HOLD the premises herein granted unto the party of the second part, the heirs or successors and assigns of tbe party of the second part forever. AND the party of the first part covenants that the party of the first part has not done or suffered anything whereby the said premises have been incumbered in any way whatever, except as aforesaid, AND the party of the first part, in compliance with Section. 13 of the Lien Law, covenants that the party of the first part will receive the consideration for this conveyance and will hold the right to receive such con sid, eration as a trust fund to be applied first for the purpose of paying the cost of the improvement and will apply the same first to the payment of the cost of the improvement before using any part of the talal of the same for any other purpose. The word "party" shall be construed as if it read "parties" whenever the sense of this indenture so requires. IN WITNESS WHEREOF, the party of the first part has duly executed this deed the day and year first above written. TN PRESENCE ~...J~1J, ~~yr~}l ( L. S. ) STATE OF NE'tI YORK, COUNTY OF SUFFOLK, SS: On the :;;)"'1t day of April, 1959, before me personally CAmO F. HAROLD SAYRE, to me known to be the individual described in and who executed the foregoing instrument, and acknowledged that he oxocute the same. L _.- RECopnl~n IAPR '(. , :?) @/."~P. 0~' "LEX JAli~1r;R Ii!w~ !Ii s.IloIk C:.vnl, RENSSELAER G. TERRY, JR. NOTARY P'UBLlC STATE OF NEW YORI(. -0' Res1dfnO In Suffolk County '152-3""48"0 ./1 M.. CommissIon ~Itlt. March 30, uuU, 5TATE OF NEW YORK. CoUNTY OF On the day of personally came to me known to be the individual executed the foregoing instrument, executed the same. STATE OF NEW YORK. COUNTY OF f;.l os: STATE OF NEW YORK, COUNTY O' , before me On the day of personally came described in and who and acknowledged that to me known to be the individual executed the foregoing instrument, executed the same. n: STATE OF NEW YORK. COUNTY OF II: 19 , before me described in and who and acknowledged that II: On the day of 19 , before me personally came to me known, who, being by me duly sworn, did depose and say that he resides at No. On the day of 19 , before me personally came the subscribing witness to the foregoing instrument, with wbom I am personally acquainted, who, being by me duly sworn, did depose and say that he resides at No. ..'.......'e.&-'--_.__....__" , , . B o ~ o <I.l ~ o /:#6 cw< cw", At ~g z ~~ ll:$'-' ~~ z /:#:;: =: " ll:$< .. =: z .- < ll:$ Z ~~ l-> 0 ll:$U A\~ ~ that he is the of that he knows , the corporation described in and which executed the foregoing instrument; that he knows the seal of said corporation; that the seal affixed to said instrument is such corporate seal; that it was so affixed by order of the board of directors of said corpora, tion, and that he signed h name thereto by like order. & '-. e;u I: . ~ 1'1) ''o,j ..::t r)~ ~~ f;;l ~ ~ 1=1 H o ~ .; Z ~ E-< . ~ ~ e; to be the individual described in and who executed the foregoing instrument; that he, said subscribing witness, was present and saw execute the same; and that he, said witness, at the same time subscribed h name as witness thereto, il,S e c; E 0 1;; ,S " '" ;S 0 -; t " -u ~ .so 01 >.E:l - ,!;l .0 0 1l .S 0 ~ T: c; U g ~ l1;J ~ ~ ""0 ..a ~ .3 l5':: t>:: '-8 0 ~ G.J g. l-<UJ;:>l .5 ""0 ]~ H~. ~H:>< U) Il. "" . PolZ gj , ~'O c8 ?Jr-I <ll 0 ><G..<:1 gjo~ 14""0 e;""rI) <1l ~ '" .. w .. .. ;!: .. w ~c OZ :> :lEw "i=! 0_ ~.. c~ ..0 <tc c.. z<t <to 1;;.. >< .. g ;!: w Z ~ ~ ~ ~ 8 ~ ~ ! ~ ..t>~c3 "':<; '" ~ 1; .;: ~ j:S~ ~~ '1: ~ ~ ;;;S ~~~ ~(; b:111-':~ N fiN t-t ~ c-; ... ~ w U ;;: ~ o " Z ;; .. o u ~\).. o lll\)., :> .. o ~ w u <t .. '" '" :;; .. w .m w' ..' r- (.- uJ ,"'\.1 t'\ ~, " .... ,"-__1 \JJ: t. .1 .,'; (0.. ."'-" . Standard N. V.B. T.U. Form 8007.2.'9.'M-Baraain aDd Sate Deed. with Co"eoaot 'aalon Graotor'. Am_lodividualor CorporatioD~ , ~":15jt . CONSULT YOUR LAWYER BEFORE SIGNING THIS INSTRUMENT-THIS INSTRUMENT SHOULD BE USED BY LAWYERS ONLY. ",L~Lf"l1.~,~ L1BER4616 PAGE151 THIS INDENTURE, made the ;~tt:J.day of April BETWEEN F. HAROLD SAYRE, residing at , nineteen hundred and fifty-nine Southold, Suffolk County, )" /j) ..J, 'II' ~... Po .... Q) ~ <> . '" ""ex: New York party of the first part, and TOWN OF SOUTHOLD, a municipal corporation having its offices at Greenport and at Southold, Suffolk County, New York, " " party of the second part, wITNESSETH, that the party of the first part, in consideration of -------------------T\YELVE THOUSAND ($12,000.00) ______________.!!ollars, lawful money of the United States, paid by ~he party of the second part, does hereby grant and release unto the ,party of the second part, the heirs or successors and assigns of the party of the second part forever, HI (/'HIt/myIB' jY;'hmliJ'Ht/''iffi11'lf#1I1NfliIfHHf'#MNJo#fl#il4MIJ#IN~~fl./NNI NM ;;#fN#I,##J!~gU ~1lYI1HI AifIfNHI ALL that certain plot, pioco or parcol of land, situate, lying and being at Bayviow, near Southold, in the Town of Southold, County of Suffolk and State of New York, bounded and described as follows: BEGINNING at a point on tho northerly line of North Parish Drive distant 72 foot oasterly from the point where the northerly line of North Parish Drive meets the easterly lino of North Road to Bayview; from said point of beginning running along other land of tho grantor herein tho following 2 oourses and distances: . (1) north 14 degrees 05 minutes 10 seconds east a distance of 178.71 feet; (2) north 82 degrees 30 minutes 20 seconds west a distance of 160.1g feet to the easterly line of North Road to Bayview; thence along the easterly line of North Road to Bayview north 14 degrees 25 minutes 20 seconds west 53.35 feet to the northerly line of North Road to Bayview; thenco along tho northerly line of North Road to Bayview tho following 2 courses and distances: (1) north 82 degrees 30 minutes 20 seconds west 272.61 feet to a monUlllent; . (2),. .m~f':th 'J9. de8,.:rll~1I ;35,lDW\1teis ,20 secondEl :w()~t 3.0 ,feet to the ordi- nary high water mark Qt<H>os,() ,O:r,eek; , ..,.. . 0 ~ '",' ~ S (.:=;. IT 1\,0" ,...8 thence north 40 degrees'25 ~inutes eastaiong tho ordinary high~water mark of Goos,e Creek 44 feet to a point where Goose Creek meets Peconic Bay; !. ""~'. , , thence northerly and easterly along tho ordinary high water mark of Peconic Bay the following 3 tie line courses and distances: (1) north 55 dsgrees 25 !Dinutes, east 100 ',f.',fle;t; (2) north 85 degrees 25 minutes east 100feqt; (3) south.79 degrees 03 minutes east 355.53 'feet to othor land of 'x'- """..... r . , , -', 'saslWa.Id pres llu1nnq-e pu-e JO ~UO.IJ U1 :ljaa.I;) allOOO pu-e A-es: o1uooad JO s.Ia~-e/ll. .Iapun spu-el pu-e s.Ia~-e/ll. 'tp-eaq alj~ o~ pu-e u1 ~.I-ed ~S.IU alj~ JO A~.I-ed alj~ JO 'AU-e n '~sa.Ia~u1 pu-e ann '~ljllp alj~ n-e ljH/II. H:ilH.L:ilOO.L .lJUlUUlSoq JO ooutd ~o ~Ulod oq~ o~ ~geJ 0$ OAldO qSl~wd lj~.ION JO opls ~t~Olj~~OU oq~ lJUOtw ~S9~ spuooos 0$ so~nulw ~$ soo~op $L q~~ou eouolj~ O~ ~ooJ o~( ~so~ !OA1.Ia ljsl~wd lj~~oN JO opls ~t~oq~~ou olj~ spuooos Ot so~nU1w $0 sooJSop ~ q~nos oouelj~ '" .... !o~.hS .H .o!! 2~a~:JVd 919l7M381l '). l( II} \) ~ 1. <J ~ '\\\ i .4. < t. ..J. ~:_~. --'?.J.... ~.7' ~,,~ ,~ "i 10) .., .1Ii 'l ~ II) l'- -o('~ ~ .. E ~ \l ~ " I:'" ...>>j.;" \ .'1 "d' '.'-', '.....--'V~-"--.'r " ',<j ~ ... ll:: . os~ .~ ~ Ie ~ 0,0 ~ 0: II .~ ';t 'I. ~ ~ ~ It: ~ 1"I.1+'''S-~,,''E:.178.71 i ~ 0 ~ . ~ ~ I\J ~ P, H. S,qYF<E ... ~ ~ ~ III (( i C) ~C( .. Il ~... ~, fool :t 'f "1 II;) L ... ~ ' r- ,>' ~ I( ," " ..,~ l::l _-.$\ ,fit r-l ""'). ~; ~ ~ ~ <.. ..... .:,.. 11" ~ C> . ~~ :t ~" "'.. -<""'~ ',.." , - 'l:)- \ ~ 'i 611 ~. ~';"~ 0,,-- .:..-...-;c;-- s. 4t:'OS-'/ "'W;.3 ". i '", '~ '" ~ .11 P ~ 'V 'i. .t/:rI~ P. ~ 'e-5 v ~,. olItD 0 rJ.1 -( f ~ ~ (- u \) ,;:. -t G 0 c:P '~ I III I \ \ L; _...,~- -.. ). ~ ~ Id }.: Q f( ~ ~ ~ Q ~ il l:> ~ ~ ~ ~~ q ...) ~ ~ :) o V)~ ~ ~ () ~ ~ :~;..;:.,_.~,.:.~,c:;,:~~~;i~'j;.""~"f':;"~<-";"O;:~",,""" ',' ;:<-,--. 7,,7:."-,.,'" -,---------.-'..-- -'--' . TITLE INSURANCE POLICY THE TITLE GUARANTEE COMPANY 311 <S0I15i~el:'afiol1 of the payment of its charges for the examination of title and its premium for insurance, insures the within named insured against all loss or damage not exceeding the amount of insurance stated herein and in addition the costs and expenses of defending the title, estate or interest insured, which the insured shall sustain by reason of any defect or defects of title affecting the premises described in Schedule A or affecting the interest of the insured therein as herein set forth, or by reason of un marketability of the title of the insured to or in the premises, or by reason of liens or incumbrances affecting title at the date hereof, or by reason of any statutory lien for labor or material furnished prior to the date hereof which has now gained or which may hereafter gain priority over the interest insured hereby, excepting all loss and damage by reason of the estates, interest., defects, objections, liens, incumbrances and other matters set forth in Schedule B, or by the conditions of this policy hereby incorporated into this contract, the loss and the amount to be ascertained in the manner provided in said conditions and to be payable upon compli- ance by the insured with the stipulations of said conditions, and not otherwise. 311 '}Vifl1e55 '}V~el:'eof) THE TITLE GUARANTEE COMPANY has caused this policy to be signed and sealed on its date of issue set forth herein. ~f Validating Officer or Agent {~~ Executive Vice-President lI4AOO )lOYII 3aISNI NO a:anNI~NOO SNOI~IaNO::> , ""JOo.JOtp ,^~p Aul'll U!t{lVA ~lqe^:ed ~ rret(S ~.5lnDep JO &SOl ~tp 'k)!1od S!lP}0 suo!l!PUOO otp tp!M "Ul/p.1oo,~ U'! 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Policy No. 1226357 SCHEDULE A The premises in which the insured hils the estllte or interest covered by this policy ALL that certain plot, piece or parcel of land, situate, lying and being at Bayview, near Southo1d, in the Town of Southold, County of Suffolk and State ~f New York, bounded and described as follows: BEGINNING at a point on the northerly"line of North Parish Drive distant 72 feet easterly from the poi~t where the northerly line of North Parish Drive meets the easterly line of North Road to Bayview; from said point of beginning running along other land of the grantor therein the following 2 courses and distances: (1) north 14 degrees 05 minutes 10 seconds east a distance of 178.71 feet; (2) north 82 degrees 30 minutes 20 seconds west a distance of 160.18 feet to the easterly line of North Road to Bayview; thence along the easterly line of North Road to Bayview north 14 degrees 25 minutes 20 seconds west 53.35 feet to the northerly line of North Road to Bayview; thence along the'norther~y line of North Road to Bayview the following 2courses:and distances: (1) north 82 degrees 30 minutes 20 seconds west 272.61 feet to a monument; (2) north 79 degrees 35 minutes 20 seconds west 30 feet to the ordinary high watermark of Goose. Creek; thence north 40 degrees 25 minil:tes'; east along the ordinary high water mark of Goose Creek 44 feet'to a point where Goose Creek meets Pecon1C Bay; thence northerly and easterly along the ordinary high water mark of Peconic Bay the following 3 tie line courses and distances: ~l~ north 55 degrees 25 minutes east 100 feet; 2 north 85 degrees 25 minutes east 100 feet; 3 south 79 degrees 03 minutes east 355.53 feet to other land of F. H. Sayre; thence south 14 degrees 05 minutes 10 seconds west 340 feet to the northerly side of North Parish Drive; thence north 75 degrees 54 minutes 50 seconds west along the northerly side of North Parish Drive 50 feet to the point or place of beginning. O(SI.13iHS CJ :10 SlSISNO:> A:l1'1Od SIHl. :::JO ..B.. ilnOiH:>S MJ1 .ROqS ~'tlS"PU seslme.%d e~ JO uOl~oedst11 tnl S~O'llJ JO e~vq.s.E.uy ..8: 'J:mJ JT. 'S~U'8Ue~ JO s~'tlSnI .:![ .g~ oluooad .%0 ~aa.IO asooD JO S.Iaq.'llM aq~ .Iapun gT.Iaw.xoJ .IO MOU saslma.Id JO SUOlq..Iod asoqq. 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'0 9...'9 aYl 6S/22/tr en"l fO 9~90 00.000'2T $ 9~ugJn'UI fO ~unowv LSf9~~T 'ON ^~!IOd U'IOIttfiOS .8:0 NfoIO,J; peJnSUI .to 9Wr&'N CONDITIONS CONTINUED FROM INSIDE FRONT COVER Seetion 6 CO-INSURANCE AND APPORTIONMENT (a) In the event that a partial loss occurs after an alteration or improvement subsequent to the date of this policy, and only in that event, the insured becomes a co-insurer to the extent hereinafter set forth. I{ the cost of the alteration or improvement exceeds 20 per centum of the amount insured hereunder, such proportion only of any partial loss established shall be borne by this company as 120 per centum of the amount of this policy bears to the sum of the amount of this policy and the amount expended for the alteration or improvement. This clause shall not apply to counsel fees and disbursements in- curred by this company in defending or prosecuting actions or pro- ceedings in behalf of the insured pursuant to the terms of this policy or to costs imposed on the insured in such actions or proceedings, This clause shall not apply to losses which do not exceed in the aggregate an amount equal to one per centum of the face amount of this policy. This company will pay such fees, disbursements, costs and losses with- out contribution by the insured. (b) If the premises are divisible into separate, independent parcels, and a loss is established affecting one or more but not all of said parcels, the loss shall be computed and settled on a pro rata basis as if this policy were divided pro rata as to value of said separate, independent parcels, exclusive of improvements made subsequent to the date of this policy. (c) Clauses "(a)" and "(b)" of this section apply to mortgage policies only after the insured shall have acquired the interest of the mortgagor. (d) If, at the time liability for any loss shall have been fixed pur- suant to the conditions of this policy, the insured holds another policy of insural'l:ce covering the same loss issued by another company, this company shall not be liable to the insured for a greater proportion of the loss than the amount that this policy bears to the whole amount of insurance held by the insured, unless another method of apportioning the loss shall have been provided by agreement between this company and the other insurer or insurers. Seetion 7 ASSIGNMENT OF POLICY If the interest insured by this policy is that of a mortgagee, this policy may be assigned to and shall inure to the benefit of successive assignees of the mortgage without consent of this company or its en- dorsement of this policy. Provision is made in the rate manual of New York Board of Title Underwriters filed with the Superintendent of Insurance of the State of New York on behalf of this and other member companies for continuation of liability to grantees of the insured. in certain specific circumstances only. In no circumstance provided for in this section shall this company be deemed to have insured the sufficiency of the form of the assignment or other instru- ment of transfer or conveyance or to have assumed any liability for the sufficiency of any proceedings after the date of this policy. , Seetion 8 SUBROGATION (a) This company shall to the extent of any payment by it of loss under this policy, be subrogated to all rights of the insured with respect thereto. The insured shall execute such instruments as may be requested to transfer such rights to this company. The rights so trans- ferred shall be subordinate to any remaining interest of the insured. (b) If the insured is a mortgagee, this company's right of subroga- tion shall not prevent the insured from releasing the personal liability of the obligor or guarantor or from releasing a portion of the premises from the lien of the mortgage or from increasing or otherwise modify- ing the insured mortgage provided such acts do not affect the validity or priority of the lien of the mortgage insured, However, the liability of this company under this policy shall in no event be increased by any such act of the insured, Section 9 MISREPRESENTATION Any untrue statement made by the insured, with respect to any material fact, or any suppression of or failure to disclose any material fact, or any untrue answer by the insured, to material inquiries before the issuance of this policy, shall void this policy. Seetion 10 NO WAIVER OF CONDITIONS This company may take any appropriate action under the tenDS of this policy whether or not it shall be liable hereunder and shall not thereby concede liability or waive any provision of this policy. Section 11 POLICY ENTIRE CONTRACT All actions or proceedings against this company must be based on the provisions of this policy. Any other action or actions or rights of action that the insured may have or may bring against this company in respect of other services rendered in connection with the issuance of this policy, shall be deemed. to have merged in and be restricted. to its terms and conditions. Section 12 VALIDATION AND MODIFICATION This policy is valid only when duly signed by a validating officer or agent. Changes may be effected only by written endorsement. If the recording date of the instruments creating the insured. interest is later than the policy date, such policy shall also cover intervening liens or incumbrances, except real estate taxes, assessments, water charges and sewer rents. ENDORSEMENTS III.V... T, U. '"0"'" 100e: 700 ,., 3.'''..20101 or: "0 d) ~ B~ ~ ~ -.., ;: ~ ~ U lC - ti z ~ S '" 0 <:l 0 .D a ~ ,. "'" z~ .. ""z ~ it ;00'" t>: ro S ~ :... .. ~ u> "'~ ..s ~ ~ ~ ~ ~ ~ "oJ'< <.;J ~ ~ >z- <;:l:: :::i ~ ~ .~ .. ~~_o ~~ ~ .. \,,)g::<=: U ~ ~ ~ :! .. ",::il 0 I:l~ <l -. '" 0 0 ~ 0 ~ li ~.;o ;:j~ <eQ trJ Q ~ ~ ~E :t:1:l ~ ~ Ci ~ ~ ~ ~ :J[g ~ ~ t>: ~ .-:: == .. ~ tJ ~ OU <0 >< ... ~ ~~ ~ ",< z::il