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HomeMy WebLinkAboutToedter, Howard A & ors. }~ I If l~ I) '\'I i:: ..... e . " .:: ~~. PF 30 _;'.__c ~ c~""" . , ~1.1() 0. S. I. H. S................................. ~ - Bargain and Sale Deed. \.1 J ovenant agaiOlilt Grantor. "To Be Used By Lawyers Only: It is unlalto'ul for any person, except a lawyer, to prepare and receive compensation for documents affecting real estate." L1BER4851 PAGE319 !": :;J ,; .. wl1is 1Ju~ruturr, ..; Made the !:5 /../.c . and sixty /~ Lei./ ::;-:/ day of , nineteen hundred iatltuttu HOWARD A. TOEDTER, of 210 West l55th Street, New York, New York; JOSEPH ~. CEDAR and ^,LICE CEDAR, his wife, residing at Plymouth Avenue, Brightwaters, New York; and RICHARD L. HA~TEL, residing at Laurel, Long Island, New York, part i e s of the first part, and the Town of Southolrl, A Municipal Corporation of the State of New York, having its principal office at Southold, County of Suffolk and State of New York. , party of the second part Witntllllttlr. that the part i es of the first part, in consideration of $3800 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Dollars, lawful money of the United States, and other good and valuable consideration, paid by the part y of the second part does hereby grant and release unto the party of the second part, its successors, and assigns forever, All that plot, piece, or parcel of land, at Southold, in the Town of Southol d, County of Suffolk, and Stn te of Ne,,, York, more particularl y bounded and described as follows: BEGINNING at a monument on the southerly line of Main Road, about 334 feet westerly along said southerly line from Mechnnic Street, said point of beginning being the northwesterly corner of land of the Southold Park District; from said point of beginning running along said land of the Southold Park District, South 290 05' 30" East 134.3 feet to a monument and land of Reidar Carstensen; thence along said land of Carstensen, South 600 36' 30" ,vest 77.9 feet to a monument on the easterl y line of a 20 foot right of way leading to land of Bridge; thence along said easterly line of said 20 foot right of way North 290 23' 30" \vest 33.41 feet to an iron bolt and land of Margery D. Burns; thence along said land of Burns 2 courses as follows: (1) North 600 00' East 16.0 feet; thence (2) North 290 23' 30" West 100.0 feet to said southerly line of Main Road; thence along said southerly line of }lain Road, north 600 00' East 62.6 feet to the point of beginning. , DElna AlH) IIJTB}\IDED. T'G :BE a p8Fti SA of' Un., ,~~ T ,;:)a.hle pI emi~.s-~~YQd._t-e- p<tM:-;--+ty the cnlJ~n:y __.. U:_lll' , 11)110 "l;..-P:>go 2.5, .TR~AirRER SF srrFBLK ,: ' . . ~ ,.. ," OJJ.-.JtUlt::I J.o, J..';J:;J";/. ~ '" U" cu" " by deea recproea ~n 61St1l'J,J.I, ~l..SO ollIMC ..".1JB ]'~rI:!l"lJ~lJ lU OJ!. ci !:IV... ~i9-- Qf' tpg :3aR15 pol. cl1il.:ses SQR1 t.) ea-- 1.1MAM +-Q I'~9..T,'\_pn. A -nAEB'fER'hy de~d f....vltI l~~Lt:iUl\l 1. DTEI~IPJgeN, aatea~~~rb--1,.6, {"'''I -1.95nr-and. .r""nrrl"r1 ; n tHe Cuf'f'olk Ooul'lty €l tlrol,' 6~Hee-.i-n--t4-be-.. }114 r 11 il I 11 >J1V111 -FAb(, UBER4851 f'AGE~l2Q 163 0". AtI~tl3~r'l-95~. ;Ifvm At.~Q FJEI1JCl ~\I~B l;IJT1BJDR'O 1'0 ~li' I;~ ....a...,l, J.3F-:"rn; C:PC::: ~......n'IT^y?A t& ~n.a.JitIUHJ ...lb.%~-'P"gB-r."T"\~ h-lo_ _..l.C"?_-J.__lJ;::Y.~_.~_~~.!L-A' Tirli __...~ .... __ ~1J' E-3, 19.$7f....~\iv.L?'l_flEliR ~ipn.... lL:)u? lJ-ge 208 VII .H.ugu~-.:; 6, J2~EPII'"~.. ltlJ, dab.:..d 1.,57. SUBJECT 1'6 agreement wi th LONG ISLAND LIGHTING COMPANY,' da ted AprU 5, 1957, recorded in Liber 4288 Page 209, and further Lighting Company agreeme~t recorded in Liber 4303 Page 291 on May 22, 1957. " . lIBER4851 PAGE 321 lll'ogttqer with the appurtenances and all the estate and rights of the part i e s of the first part in . .' and to said premises. lll'o qaue anb to qoib the premises herein granted unto the party of the second part, its successors and assigns forever. Anb ~r.~ parties of the first part covenant that theyhave not done or sulfered anything whereby the said premises have been incumbered in any way whatever, except as aforesaid. The grantor, in compliance with Section 18 of the Lien Law, covenants that the grantor wiJI 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. lu Dlitutllll DI~rrrnf, the parties of the first part have t"- I ~i' M '"'-' ~ <i:: "!-i .n ~ "'l:t' = u.J co :::; signed and sealed these presents the day and year first above written. _....__...../~..~~~.u.s.) Howard A. Toedter ......C2~~~.......,.......t.LfJ...:l,..'.....(.LS.) \J Joseph ~!. Cedar J In prr1lt11ct of: 1:1' I i !~ J .i;","" " 'i;,{~,.,'t)~,1::s,'T, ,:AT, E OF NEW YORK ;!~t:F~~~~~ 1;~:;:~ H'~~~;' :;;;f.'~~::'_ ''';:::: ,~.~:" '?;J:~~;"i:.the individilal described in, and who executed, the fore- ;,;,/~'.-:tE,i<-il;' gOin~ in'jtrumen.t and a<;:Jsnowlede:ed to me .,that. 8e executed :'\ ::<";,:)~X/~:.~, ?~nl.....v...;'n, . "ill: Q"., :Tle au!'., '., '.\'urn, u;({ (.~:~!OSf: anrr ;<:~'... ~la.;.t, H';-' t' '.:.-;";1 :;t ",'c4'''i.,~.'''n~ 11 e. ~ ,"'. 't~.:t~~ih' '.' ,t. ~' ~I A171/)/ i~ <' .(; .il (i:~, .[ r~~ (i~I:'~~:~~-l :::" (LS) /J 1 'otary Public :ii' L,l i ..rat;, ': ,i. ,J.\.~d: n, :-_m.:~' '.'X(;~U(.,~ .~~ ).: '~',S"( j :; ;,';Clll ~, '~",:~, Uo>' ',..' ~ ~"l'-: bOHrd "f ,;;aid l;'-", .fU1C'il 1:; "'-",~\ C(;''';,'t',j~*;~~~\:~ aHl.x;'" f""'~~' "i''1en _1><pI.._JO. STA:11;lj:OJl'.,,~EW YORK COUNTY OF SFFFOLK 55.: On toh", J- 9' d F n 0, , , 1960, beFore me carne ,TOSEPH M. CED~;:Y a~dI\.LI~AR, to me known to be the individuals described in, and who executed, the roreeoing instrument, and acknowledged to me that t~ey ex~cuten tnp sampo (,;,': :;-! ('i.)rr':':f A' ,.:,}; :-r~at th",,1t.~a! ",!1- .",.1" I 1 l';.tt~\ " t'nei'C' - ," (, v-.J ~ ~~J / Notar)r Public JOSEPH M. MORKl~ ~ Public, State of New YON. AuaUfied in Suffolk Count!y ,.~. No. 52.2777675 ........ Ill/ld in COUll!] Omrat!l8ion Exnirelil MA'"~"JbI~vl ,.". . \ \ ~tlltr of NE1.i YORK QInuuty .~ On the ) S 1lIl.: ,$ day of TOEDTER, ~ before me came H01i ARD A. " ,." ~\\ E.. - ,,>:t?~ln,9wn and known to me to be the individual ;; iI' ~.~,-nt'1'~n;~ acknowledged to me that he . :~I'. .vlt,~....,,::~ CJ-;. VI . ,':. .J .,~,y;. 1.' -5. ~n:'\' ('~. ~\ . ::',.:,.~~~'.:,.:.'~_,,~;::r~</~~-~';l :' t"..,..,..:,.t~:~':.'o~ ,':'. ,f:,.~~-~;':i' r.- 'I E..~l;, '~l4i("" . x:,. ,. .j ~ \ 1I8ER4851 PAGE323 , nineteen hundred and six t Y , J described in, and who executed, the foregoing in- executed the same. WilLIAM E, DRAUDE lQTARY PUBLIC, Slale of New York , No. 03-1020100 Qualified if! Bronx County ~omm:.:-:.il'Jt'l' exz;::r<:>s MMCh 30l 196.1 that he knows .Q V) 'f)-o- ol - ~ <::) ? 1 iCJ) \l()lro \- ~r ~ o . J .J <;C J ~ tl ~ ~ :r h~.?~ '" ;:s. ,,~.~ r ~~i~, I ] -1\1- ~ I !ii ' i t(l'~ !l:l ~ >. ~ '8 'J!:8 -e ~ - 0 .l1 j:Q u ., ~ ..= .~ Eo< '" .~ - r-- &lair of } a: r , QIOUl1ty of On the day of , nineteen hundred and before me came , the subscribing witness to the foregoing instrument, with whom I am pe~onaUy,acqullin~,_who, being by me duly sworn, did depose and say that he resides in 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. <::I ~ "- cd oS'- <: ;) 1- \-~ i ,Q eo. Cot ,~ ;... . '. :j Eo- "........... QQ ~ ~ ..~"..~. -- "..".. z~. z:i..;z=~o!:i r: ;";zzz~z~:i~:J:Jz~~ .=~ ~ -< < z~~N~ui9.~;i~~zr.:fg=o~ ~ ~ ~ il~ii~!;!UUUU ti ~ ~ iiJt~....=~c~r-: Ji.:c..=r-:g~~ ~ ~ ....~ 'oi~"l:l~S!~~ -l:lolOZ: ~ -< zr::lGiltlllll: r;il=d~Q .=~ra::: dr= ~ t-' :;':E--=r;&1;:r-:~~==t=..li!!fn~i!5< <rt:l~=Zr;&1iZ1 E-o::.dr;&1E-o il";Q Q Eo< .'''''/;;!!If:lz:i!i'''<.lIl''':C=''dj ~ill ~ ~ S!~'=~"/;;~::i5il/;;5:l!~h@ o ~ 0 ~E-oQil"; E-o~r;il=3E--Ozrt:l ~ =~,z~~E-o~rt:l=~<~=~oQ . ""Cl <=::3-~gs:;lNr;&1Q~~E-oE--== c:c; 1:1 ;::o.:lNr..;= 1i*~=!l2r;&1~ .....~rt:l<E-o ~ "-~~=~:t- ~~~~i=~~ Eo- ~~~~-N~ ~ t-e Z ~ ~ - -~ .~- - . . . "~'" ~ <5 \ .. . , I ;;; .;,::J- RECOIDEll ~ . 0 .t . ,~ . II ,~)- \ ~ AUG 2 191) tA. 13\ 0 . '\. ~ . @ ~.' \11>" _ \' oS . tlORtMM E. L1PI' '-" . r--1 ,......' !. ..- Clerk of suffolk cou~ '" c:> C',' " ,2 :c .. . . . ~ . .. .., ., .... .. Cl l' TITLE INSURFlNCE POLICY THE TITLE GUARANTEE COMPANY ~11 (gol1si~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 in..,rest 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, interests, 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. ~11 ').Oifl1ess ').Ogel'eofJ THE TITLE GUARANTEE COMPANY has caused this policy to be signed and sealed on its date of issue set forth herein. ?44~ {,.;/ Validating Officer or Agent J/.~~~ r > ~ CONDITIONS OF THIS POLICY ~ < Section 1 DEFINITIONS (a) Wherever the term "insured" is used in this policy it includes those who succeed to the interest of the insured by operation of law including, without limitation, hei~ distributecs, deviaees, survivors, personal representatives, next of kin or corporate successors, as the case may be, and those to whom the insured has assigned this policy where such assignment is permitted by the terms hereof, and whenever the term "insured" is used in the conditions of this policy it also includes the attorneys and agents of the "insured." (b) Wherever the term "this company" is used in this policy it means The Title Guarantee Company. (c) Wherever the term "final determination" or "finally deter- mined" is used in this policy, it means the final determination of a court of competent jurisdiction after disposition of all appeals or after the time to appeal has expired. (d) Wherever the term "the premises" is used in this policy, it means the property insured herein as described in Schedule A of this policy including such buildings and improvements thereon which by law constitute real property. (e) Wherever the term urecorded" is used in this policy it means, unless otherwise indicated, recorded in the office of the recording officer of the county in which property insured herein lies. Section 2 DEFENSE AND PROSECUTION OF SUITS (a) This company will, at its own cost, defend the insured in all actions or proceedings founded on a claim of title or incumbrance not excepted in this polil'}'. (b) This company shall have the right and may, at its own cost, maintain or defend any action or proceeding ~ating to the tide or interest hereby insured, or upon or under any covenant or contract relating thereto which it considers desirable to prevent or reduce loss hereunder. (c) In all cases where this policy requires or permits this company to prosecute or defend, the insured shall secure to it the right and opportunity to maintain or defend the action or proceeding, and all appeals from any determination therein, and give it all reasonable aid therein, and hereby per::mits it to use therein, at its option, its own name or the name of the insured. (d) The provisions of this section shall survive payment by this company of any specific loss or payment of the entire amount of this policy to the extent that this company shall deem it necessary in recovering the loss from those who may be liable therefor to the insured or to this company. Section 3 CASES WHERE LIABILITY ARISES No claim for damages shall arise or be maintainable under this policy except in the following cases: (a) Where there has been a final determination under which the insured may be dispossessed, evicted or ejected from the premises or from some part or undivided share or interest therein. (b) Where there has been a final determination adverse to the title, upon a lien or incumbrance not excepted, in this policy. (c) Where the insured shall have contracted in good faith in writing to sell the insured estate or interest, or where the insured estate has been sold for the benefit of the insured pursuant to the judgment or order of a court and the tide has been rejected because of a defect or incumbrance not excepted in this policy and there has been a final determination sustaining the objection to the title. (d) Where the insurance is upon the interest of a mortgagee and the mortgage has been adjudged by a final determination to be invalid or ineffectual to charge the insured's estate or interest in the premises, or subject to a prior lien or incumbrance not excepted in this policy; or where a recording officer has refused to accept from the insured a satisfaction of the insured mortgage and there has been a final deter- mination sustaining the refusal because of a defect in the title to the Mid mortgage. (e) Where the insured shall have negotiatt:d a loan to be made on the security of a mortgage on the insured's estate or interest in the premises and the tide shall have been rejected by the proposed lender and it shall have been finally determined that the rejection of the title was justified because of a defect or incumbrance not excepted in this policy. (f) Where the insured shall have transferred the tide insured by an instrument containing covenants in regard to title or warranty thereof and there shall have been a final determination on any of such cove- nants or warranty, against the insured, because of a defect or incum- brance not excepted in this policy. (g) Where the insured estate or interest or a part thereof has been taken by condemnation and it has been finally determined that the insured is not entitled to a full award for the estate or interest taken because of a defect or incumbrance not excepted in this policy. Np claim for damages shall arise or be maintainable under this policy (1) if this company, after having received notice of an alleged defect or incumbrance, removes such defect or incumbrance within thirty days after receipt of such noticei or (2) for liability voluntarily assumed by the insured in setrling any claim or suit without the written consent of this company. Section 4 NOTICE OF CLAIM In case a purchaser or proposed mortgage lender raises any question as to the sufficiency of the title hereby insured, or in case actual knowledge shall come to the insured of any claim adverse to the title insured hereby, or in case of the service on or receipt by the insured of any paper, or of any notice, summons, process or pleading in any action or proceeding. the object or effect of which shall or may be to impugn, attack or call in question the validity of the tide hereby insured, the insured shall promptly notify this company thereof in writing at its main -office and forward to this company such paper or such notice, summons, process or pleading. Delay in giving this notice and delay in forwarding such paper or such notice, summons, process or pleading shall not affect this company's liability if such failure has not prejudiced and cannot in the future prejudice this company. Section II PAYMENT OF LOSS (a) This company will pay, in addition to the loss, all statutory costs and allowances imposed on the insured in litigation carried on by this company for the insured under the terms of this policy. This company shall not be liable for and will not pay the fees of any counsel or attorney employed by the insured. (b) In every case where claim is made for loss or damage this company (1) reserves the right to settle, at its own cost, any claim or suit which may involve liability under this policy; or (2) may termi- nate its liability hereunder by paying or tendering the full amount of this policy; or (3) may, without conceding liability, demand a valua- tion of the insured estate or interest, to be made by three arbitrators or any two of them, one to be chosen by the insured and one by this company, and the two thus chosen selecting ap umpire. Such valua- tion, less the amount of any incumbrances on said insured estate and interest not hereby insured against, shall be the extent of this com- pany's liability for such claim and no right of action shall accrue hereunder for the recovery thereof until thirty days after notice of such valuation shall have been served upon this company, and the insured shall have tenderid a conveyance or assignment of the insured estate or interest to thiS company or its designee at such valuation, diminished as aforesaid. The foregoing option to fix a valuation by arbitration shall not apply to a policy insuring a mortgage or leasehold interest. (c) Liability to any collateral holder of this 'policy shall not exceed the amount of the pecuniary interest of such collateral holder in the premises. (d) All payments made by this company under this policy shall reduce the amount hereof pro tanto except (1) payments made for counsel fees and disbursements in defending or prosecuting actions or proceedings in behalf of the insured and for' statutory costs and allow- ances imposed on the insured in such actions and proceedings, and (2), if the insured is a mortgagee, payments made to satisfy or subordi- nate prior liens or incumbrances not set forth in Schedule B. (e) When liability has been definitely fixed in accordance with the conditions of this policy, the loss or damage shall be payable within thirty days thereafter. ,...\ I Name of Insured Policy No. 1229888 Amount of Insuronce $ 3,800.00 Date of Issue August 2, 1960 TOWN OF SOUTHOLD The estate or interest insured by this policy is fee simple made by Howard A. Toedter, Joseph wife and Richard L. Hammel, dated August 2, 1960. vested in the insured by means of a deed M. Cedar & Alice Cedar, his July 14, 1960, recorded SCHEDULE B 1. . 2. " 3. 4. 5. The following estetes, interests, defects, objection. to titie. liens end incumbrenc.. end other metters ere excepted from the coverage of this policy: Defects end incumbrances arising or becoming III lien aft.r the dote of or the right to maintein therein vaults, tunnels, remps or eny other drue- this policy, except as herein provided. ture, or improvement or any rights or eesements therein unless this policy Consequences of the exercise end enforcement or attempted ltflfon:ement specifically provid.. thet luch lends, rights or 81l1Sem8nts ere insured: elC- of any governmental wer or police powers over the premises. cept that if the premite. abut upon 1lI physically open street or highway, Zoning restrictions or ordinances imposed by eny government. I body. this policy, unles. otherwi.. excepted, insu.... the ordinary rights of access and 119.... belonging to abutting ownel'l. Judgments against the insured or estates, interests, defects. objections. 6. Compliance by the building. or other erections upon the ~mises or liens or incumbrences created, suffered, assumed or agreed to, by or with their use with Federal. State end Municipel lews, reguletions and ordi~ the privity of the insured. nanCM. Title to eny property beyond the line. of the premise. or to the lend in 7. Title to any pen;onal property, whether the same be attached to or used any streets, roads, evenue., lenes or woys on which the premises abut, in connecHon with soid premises or otherwise. A. las Line <Jonsent in Liber 43<il3 cp 293 Lighting Oonsent in Liber 4341 cp 422 B. Any state of facts an inspection of the premises might show. C. Survey by otto W. Van Tuyl & Son, dated May 23, 1960 shows four foot concrete walk. No variations. SCHEDULE "8" Of THIS POLICY CONSISTS OF I I SHEETlS). lI"" -." Policy No. 1229888 SCHEDULE ^ The premises in which the insured hos the estate or interest covered by this policy -' I i , ALL that certain plot, piece or parcel of land, with the bUildings' thereon erected, situate, lying and being at Southold, in the Town of Southold, County of Suffolk and State of New York, more particularly bounded and described as follows: BEGINNING at a monument on the southerly line of Main Road, about 334 feet westerly along said southerly line from Mechanic Street, said point of beginning being the northwesterly corner of land of the Southold Park District; from said point of beginning running along said land of the Southold Park District South 29 degrees 05 minutes 30 seconds East 134.3 feet to a monument and land of Reidar Carstensen; THENOK along said land of Carstensen, South 60 degrees 36 minutes 30 seconds West 77.9 feet to a monument on the easterly line of a 20 foot right of way leading to land of Bridge; THENCE along said easterly line of said 20 foot right of way North 29 degrees 23 minutes 30 seconds West 33.41 feet to an iron bolt and land of Margery D. Burns; THENCE along saidland of Burns, 2 courses as follows: (1) North 60 degrees 00 minutes East 16.0 feet; thence (2) North 29 degrees 23 minutes 30 seconds West 100.0 feet to said southerly line of Main Road; THENCE along said southe~ly line of Main Road North 60 degrees 00 minutes East 62.6 feet to the point of beginning. - CONDITIO,NS CONTINUED FROM INSIDE FRONT COVER SectiOD 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. If 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 beha If 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 lasses 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 setded 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 insura~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. Section 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 pfoceedings after the date of this policy. SectiOD 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. SectiOD 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. SectiOD 10 NO WAIVER OF CONDITIONS This company may take any appropriate action under the terms of this policy whether or not it shall be liable hereunder and shall not thereby concede liability or waive any provision of this policy. SectiOD 11 POLICY ENTIRE CONTRACT All actions or proceedings against this company must be baled on the provisions of this policy. Any other action or actiona or rights of action that the insured may have or may bring againlt 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 o~ly when duly ~ned 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 A Valuable Document GJ'IGJ'LB Insurance POLleG)( THE TITLE GUARANTEE COMPANY CHARTERED J888 IN NEW YORK Title Insurance Througlwut NEW YORK, NEW JERSEY, CONNECTICUT, MASSACHUSETTS, MAINE, VERMONT AND GEORGIA 7;?u~ HEAD OFFICE 176 BROADWAY, NEW YORK CITY