HomeMy WebLinkAboutNorthfork Bank & Trust Company
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SECTION
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Standard N.Y.BT.V. Form 8002-20M
-Bargain and SakI, Deed. with Covenants against Grantor's Acts-Individual or CorporalioIl. (single sheet)
CONSULT YOUR LAWYER BEFORE SIGNING THIS INSTRUMENT. THIS INSTRUMINT SHOULD BE USED BY LAWYERS ONLY
') S-f .s .~L
made the 0( I - day of tFrrWlb~'~, nineteen hundred and Ninety-Three
THIS INDENTURE,
BETWEEN
NORTH FORK BANK, as successor by merger to
THE NORTH FORK BANK & TRUST COMPANY, a New York banking
corporation with principal place of business at
9025 Main Road, Mattituck, New York 11952,
party of the first part, and
TOWN OF SOUTHOLD, a municipal corporation with offices at Town Hall, 53095 Main Road
Southold, New York 11971
party of the second part,
WITNESSETH, that the party of the first part, in consideration of ten dollars and other valuable consideration
paid by the 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,
ALL that certain plot, piece or parcel of land, with the buildings and improvements thereon erected, situate,
lying and being iIDIlIK at Mattituck, in the Town of Southold, County of Suffolk and
State of New York, bounded and described as follows:
BEGINNING at the corner formed by the intersection of the southerly side
of Sound Avenue (North Road) with the easterly side of Pacific Street;
RUNNING THENCE North 770 31' East, along the southerly side of Sound
Avenue, 197.02 feet to land now or formerly of Mattituck Presbyterian Church;
THENCE South 070 06' East along said last mentioned land, 255.18 feet to
land now or formerly of Peter and Natalie Andrusio;
THENCE South 720 51' West along said last mentioned land, 198 feet to the
easterly side of Pacific Street;
THENCE along the easterly side of Pacific Street, the following two courses
and distances:
1. North 130 52' West 7.17 feet;
2. North 070 11' West 264.17 feet to the point or place of BEGINNING.
BEING and intended to be the same premises conveyed to the party of the
first part by deed dated 3/9/71 and recorded 3/11/71 in the Suffolk County Clerk's
Office in Liber 6898 page 374.
This conveyance is made in the regular course of business actually conducte~;
by the party of the first part and does not constitute a conveyance of substantially
all of its assets.
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 the estate and rights of the party of the first part in and to said premises; TO HAVE AND TO
HOLD the premisE'S herein granted unto the party of the second part, the h~irs or successors and assigns of
the 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 encumbered 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 consid-
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 total of the satne for
any other purpose.
The word "party" shall be construed as if it read "parties" whenever the sense of this indentpre so requires.
IN WITNESS WHEREOF, the party of the first part has duly executed this deed the day and year first above
written.
PALL-
sR. VICE p~,
116.46PG348
STATIO' NIW YOIII, COUNTY 0'
On the day of
personally came
55:
19
, before me
to 111e known to bt, the individual
executed the foregoing instrument,
executed the same.
described in and who
and acknowledged that
STATIO' NIW YOlK. COUNTY 0' SUFFOLK 55:
On the ,;( IS! d~ of ~ vyt~)9 93. before me
personally came ~,<.aLd Llv/-Ko vie,.c,
to me known, who, being by me duly sw~r , did depose and
say that he rJ'sides at N~ hac""" b '-jC~ d
mdt k~ ,;fM"f,,-"'- Kd ') 7J?", 1'trrvc /f-/.Y ;
that fie is the :;,... IA~ /Juv, , {
of NORTH FORK BANK
, the corporation described
in and which executed the foregoing instrument; tlmt"--h..
knuws--t~~dt-'Of-scrid- \'UtPUt ~tiOlT-;-'1hat-the-~ai-affixed
w'Sml1-lmmmT!'l'ly'irrot'h-rnrpllrllte->1':r1; that it was so
exe'IM~~ by order of the board of directors of said corpora-
tIOn. and that he signed h name thereto by like order.
<;"~-:.
JDAN DIXON
NOTARY f'lJBLlC. Sial. of N.w ""r~
No. 52.4120150. Suffolk C....."
Term Expire:o<. MAull a.. 1~__
1l-'3c>.9<-\
iargaiu aub &alr I1rrb
WITH COVENANT AGAINST GRANTOR'S ACTS
TITLE NO, RH92 - 1919
NORTH FORK BANK, as successor by merger
to THE NORTH FORK BANK & TRUST COMPANY,
TO
TOWN OF SOUTHOLD
STANDARD FORM OF NEW YORK BOARD OF TITLE UNDERWRITERS
Distributed by
Ticor Title Guarantee
185 Old Country Road
Riverhead, N.Y. 11901
(516) 727.2300
STATIO' NIW YO II. COUNTY 0'
On the day of
personally came
55:
19
, before me
to me known to be the individual
executed the foregoing instrument,
executed the same.
described in and who
and acknowledged that
STATIO' NIW YOlK. COUNTY OP
55:
On the day of 19 . before me
personally came
the subscribing witness to the fon!going instrument, with
whom I am personally acquaint<;jY, who. being by me duly
sworn, did depose and say that he resides at No.
that he 'knows
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.
SECTION
BLOCK
WT
COUNTY OR TOWN
Recorded at Req..... of
Return by Mall to
HARVEY ARNOFF, ESQ.
16 West Main Street
Riverhead, New York 11901
Zip No.
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BOXES 5 THRU 9 MUST BE TYPED OR PRINTED iN B-LACK INK ONLY PRIOR TO RECORDING OR FILING,
'1 S-UfFOLKCOUNTY CLERK 2' 6436 3 RrCr.)~~ 9c9-,g,q
11646PG34B-
Numhcr or "age' 3
TORRRNS
LIEi'
RFCE!\f:5'-'-j
$ --..----
REP.L cSTt,rE ...
3a /I 49 ~H '93
DWA8D P'lgrAlNE
.}:; T'(
Sf? ;/I 1~:d3
Certificate #
TRi~i,;~"Ef 1 AX 1:
,',,,f(J' K
.}U,: L.
ClJUNfY
~~...........
Seda' #
Pr' #
Deed I Mortgage Instrument
,
Deed I Mortgage Tax Stamp
Recording I Filing Stamps
4
FEE
Mortgage Amt.
1. Basic Tax
2. SONYMA
Sub Total
Sub Total
60~
3. Spec./Add.
TOT. MTG. TAX
GRAND TOTAL
if6~
/p. -
Dual Town _Dual County _
Held for Apportionment
Transfer Tax~~
Mansion Tax .
The property covered by this mortgage
is or will be improved by a one or two
family dwelling only.
YES or NO_
If NO, see appropriate tax clause on
page # of this instrument.
Sub Total
Real Property Tax Service Agency Verification
Dist Section Block Lot
Title Company Information
rrr.I . OmDlOnW
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Titie Number
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...:.....................1 FEE PAID BY:
#( Cash_ Check..J(. Charge_
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RECORD & RETURN TO
Suffolk County Recording & Endorsement Page
This page forms part of the attached \::>e ~~ made by:
(Deed, Mortgage, etc.)
\\~<:,-fu ~D'~ ~ClY"\\\
The premises herein is situated in
SUFFOLK COUNTY, NEW YORK.
In the TOWN of "5c:,,-\~o\.~
"\"c>~n 0 ~ C:;;~'-\-4-.0\d.
In the VILLAGE
or HAMLET of \A..,Q. \-\-\-\~c., \\
OWNER'S POLICY OF TITLE INSURANCE
REaIVID
M~R 1 0 \994
Southokl Town der\t
ISSlJED BY
~
Commonwealth.
Land Title Insurance Company
SUBJECT TO THE EXCLUSIONS FROM COVERAGE. THE EXCEPTIONS FROM COVERAGE CONTAINED IN SCHEDULE B
AND THE CONDlTlONS AND STIPULATIONS, COMMONWEALTH LAND TITLE INSURANCE COMPANY, a Pennsylvania
corporation, herein called the Company. insures. as of Date of Policy shown in Schedule A, against loss or damage, nol 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.
IN WITNESS WHEREOF, COMMONWEALTH LAND TITLE INSURANCE COMPANY has caused its corporate name and seal to be
hereunto affixed by its duly authorized officers. the Policy to become valid when countersigned by an authorized officer or agent of the
Company.
COMMONWEALTH LAND TITLE INSURANCE COMPANY
Attest:
10 11TLE I
't-v.., 4-J'
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/jIOJ. /..~~
B~~
rJJJT:tC
President
EXCLUSIONS FROM COVERAGE
The following matters are expressly excluded from the coverage of this policy and the Company will not pay loss or damage, costs, attorneys'
fees or expenses which arise by reason of:
I. (a) Any law, ordinance or governmental regulation (including but. not limited to building and zoning laws. ordinances, or regulations)
restricting, regulating, prohibiting or relating to (i) the occupancy, use, or enjoyment of the land; (ii) the character, dimensions or location of
any improvement now or hereafter erected on the land; (iii) a separation in ownership or a change in the dimensions or area of the land or
any parcel of which the land is (If was a part; or (iv) environmental protection, or the effect of any violation of these laws. ordinances or
governmental regulations. ex.cept 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 Policy.
(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 Policy.
2. Rights of eminent domain unless notice of the exercise thereof has been recorded in the public records at Date of Policy, but not ex.c1uding
from coverage any taking which has occurred prior to Date of Policy which would be binding on the rights of a purchaser for 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 Policy, 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 Policy; or
(e) resulting in loss or damage which would not have been sustained if the insured c1aiman.t had paid value for the estate or interest insured
by this policy.
4. Any claim, which arises out of the transaction vesting in the insured the estate or interest insured by this policy, by reason of the operation of federal
bankruptcy, state insolvency, or similar creditors' rights laws.
NM1
ALTA Owner's Policy (4.6-90)
Form 1171-1 Face Page
Valid Only If Schedule A, B and Cover Are Attached
1. DEFINITION OF TERMS.
CONDITIONS AND STIPULATIONS
The following tenns when used in this policy mean;
(a) "insured": the insured named in Schedule A, and. subject to any
rights or defenses the Company would have had against the named insured,
those who succeed to the interest of the named insured by operation of law
as distinguished from purchase including, but not limited to, heirs,
distributees, devisees, survivors, personal representatives, next of kin, or
corporate or fiduciary successors.
(b) "insured claimant": an insured claiming loss or damage.
(e) "knowledge" or "known"; actual knowledge, not constructive
knowledge or notice which may be imputed to an insured by reason of the
public records as defined in this policy or any other records which impart
constructive notice of matters affecting the land.
(d) "land": the land described or referred to in Schedule A, and
improvements affixed thereto which by law constitute real property. The
term "Iand" does not include any property beyond the lines of the area
described or referred to in Schedule A, nor any right, title, interest, estate
or easement in abutting streets, roads, avenues, alleys, lanes, ways or
waterways, but nothing herein shall modify or limit the extent to which a
right of access to and from the land is insured by this policy.
(e) "mortgage": mortgage, deed of trust, trust deed, or other security
instrument.
(I) "public records": records established under state statutes at Date of
Policy for the purpose of imparting constructive notice of matters relating
to real property to purchasers for value and without knowledge.. With
respect to Section I(a) (iv) of the Exclusions From Coverage, "public
records" shall also include environmental protection liens filed in the
records of the clerk of the United States district court for the district in
which the land is located.
(g) "unmarketability of the title": an alleged or apparent matter affecting
the title to the land, not excluded or excepted from coverage, which would
entitle a purchaser of the estate or interest described in Schedule A to be
released from the obligation to purchase by virtue of a contractual
condition requiring the delivery of marketable title.
2. CONTINUATION OF INSURANCE AFTER CONVEYANCE
OF TITLE.
The coverage of this policy shall continue in force as of Date of Policy in
favor of an insured only so long as the insured retains an estate or interest
in the land, or holds an indebtedness secured by a purchase money
mortgage given by a purchaser from the insured, or only so long as the
insured shall have liability by reason of covenants of warranty made by the
insured in any transfer or conveyance of the estate or interest. This policy
shall not continue in force in favor of any purchaser from the insured of
either (i) an estate or interest in the land, or Oi) an indebtedness secured by
a purchase money mortgage given to the insured.
3. NOTICE OF CLAIM TO BE GIVEN BY INSURED CLAIMANT.
The insured shall notify the Company promptly in writing (i) in case of
any litigation as set forth in Section 4(a) below, (ii) in case knowledge shall
come to an insured hereunder of any claim of title or interest which is
adverse to the title to the estate or interest, as insured, and which might
cause loss or damage for which the Company may be liable by virtue of
this policy, or (iii) if title to the estate or interest. as insured, is rejected as
unmarketable. If prompt notice shall not be given to the Company, then as
to the insured all liability of the Company shall terminate with regard to
the matter or matters for which prompt notice is required; provided.
however, that failure to notify the Company shall in no case prejudice the
rights of any insured under this policy unless the Company shall be
prejudiced by the failure and then only to the extent of the prejudice.
4. DEFENSE AND PROSECUTION OF ACTIONS; DUTY OF
INSURED CLAIMANT TO COOPERATE.
(a) Upon written request by the insured and subject to the options
contained in Section 6 of these Conditions and Stipulations, the Company,
at its own cost and without unreasonable delay, shall provide for the
defense of an insured in litigation in which any third party asserts a claim
adverse to the title or interest as insured, but only as to those stated causes
of action alleging a defect, lien or encumbrance or other matter insured
against by this policy. The Company shall have the right to select counsel
of its choice (subject to the right of the insured to object for reasonable
cause) to represent the insured as to those stated causes of action and shall
not be liable for and will not pay the fees of any other counsel. The
Company will not pay any fees, costs or expenses incurred by the insured
in the defense of those causes of action which allege matters not insured
against by this policy.
(b) The Company shall have the right, at its own cost, to institute and
prosecute any action or proceeding or to do any other act which in its
opinion may be necessary or desirable to establish the title to the estate or
interest, as insured, or to prevent or reduce loss or damage to the insured.
The 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. If the Company
shall exercise its rights under this paragraph, it shall do so diligently.
(c) Whenever the Company shall have brought an action or interposed a
defense as required or permitted by the provisions of this policy, the
Company may pursue any litigation to final determination by a court of
competent jurisdiction and expressly reserves the right, in its sole discretion,
to appeal from any adverse judgment or order.
(d) In all cases where this policy permits or requires the Company to
prosecute or provide for the defense of any action or proceeding. the
insured shall secure to the Company the right to so prosecute or provide
defense in the action or proceeding, and all appeals therein, and permit the
Company to use, at its option. the name of the insured for this purpose.
Whenever requested by the Company, the insured, at the Company's
expense, shall give the Company all reasonable aid (i) in any action or
proceeding, securing evidence, obtaining witnesses, prosecuting or
defending the action or proceeding, or effecting settlement, and (ii) in any
other lawful act which in the opinion of the Compar:y may be necessary or
desirable to establish the title to the estate or interest as insured. If the
Company is prejudiced by the failure of the insured to furnish the required
cooperation, the Company's obligations to the insured under the policy
shall terminate, including any liability or obligation to defend, prosecute, or
continue any litigation. with regard to the matter or matters requiring such
cooperation.
5. PROOF OF LOSS OR DAMAGE.
In addition to and after the notices required under Section 3 of these
Conditions and Stipulations have been provided the Company, a proof of
loss or damage signed and sworn to by the insured claimant shall be
furnished to the Company within 90 days after the insured claimant shall
ascertain the facts giving rise to the loss or damage. The proof of loss or
damage shall describe the defect in, or lien or encumbrance on the title, or
other matter insured against by this policy which constitutes the basis of
loss or damage and shall state. to the extent possible, the basis of
calculating the amount of the loss or damage. If the Company is prejudiced
by the failure of the insured claimant to provide the required proof of loss
or damage, the Company's obligations to the insured under the policy shall
terminate, including any liability or obligation to defend, prosecute, or
continue any litigation, with regard to the matter or matters requiring such
proof of loss or damage.
In addition, the insured claimant may reasonably be required to submit
to examination under oath by any authorized representative of the
Company and shali produce for examination, inspection and copying, at
such reasonable times and places as may be designated by any authorized
representative of the Company, all records, books, ledgers, checks.
correspondence and memoranda, whether bearing a date before or after
Date of Policy, which reasonably pertain to the loss or damage. Further, if
requested by any authorized representative of the Company . the insured
claimant shall grant its permission, in writing. for any authorized
representative of the Company to examine, inspect and copy all records,
books. ledgers, checks, correspondence and memoranda in the custody or
control of a third party, which reasonably pertain to the loss or damage.
All information designated as confidential by the insured claimant provided
to the Company pursuant to this Section shall not be disclosed to others
unless. in the reasonable judgement of the Company. it is necessary in the
administration of the claim. Failure of the insured claimant to submit for
examination under oath, produce other reasonably requested information
or grant permission to secure reasonably necessary information from third
parties as required in this paragraph shall terminate any liability of the
Company under this policy as 10 that claim.
6. OPTIONS TO PAY OR OTHERWISE SETTLE CLAIMS;
TERMINATION OF LIABILITY.
In case of a claim under this policy, the Company shall have the
following .options:
(a)To Payor Tender Payment of the Amount of Insurance.
To payor tender payment of the amount of insurance under
this policy together with any costs. attorneys' fees and expenses incurred by
the insured claimant, which were authorized by the Company, up to the
time of paymant or tender of payment and which the Company is obliga-
ted to pay.
Upon the exercise by the Company of this option. all liability and
obligations to the insured under this policy, other than to make the
payment required, shall terminate, including any liability or obligation to
defend, prosecute, or continue any litigation, and the policy shall be
surrendered to the Company for cancellation.
(b) To Payor Otherwise Settle With Parties Other than the Insured or
With the Insured Claimant.
(i) to payor otherwise settle with other parties for or in the name
of an insured claimant any claim insured against under this policy, together
with any costs. attorneys' fees and expenses incurred by the insured
claimant which were authorized by the Company up to time of payment
and which the Company is obligated to pay; or
(ii) to payor otherwise settle with the insured claimant the loss or
damage provided for under this policy, together with any costs, attorneys'
fees and expenses incurred by the insured claimant which were authorized
by the Company up to the time of payment and which the Company is
obligated to pay.
Upon the exercise by the Company of either of the options provided for
in paragraphs (b)(i) or (ii), th.: Company's obligations to the insured under
this policy for the claimed loss or damage, other than the payments
required to be made, shall terminate, including any liability or obligation to
defend, prosecute or continue any litigation.
B 1171-1
Conditions and ~tipuJ.tioqs Continued Inside Cover
~OQ-uU iUO~"
CONTROL NO.
SCHEDULE A
AM:UNI' OF INSURANCE: $ 620,575.00
FOLICY NO.
166-007064
TI'fLE NO.
RID 21919
I:lA.TE OF FOLICY: 09/21/93
1. NAME OF mSURED:
TCMN OF SOUTHOill
2. THE EsrATE OR INI'EREsr m THE LAND wlllrn IS CXJVERED BY THIS FOLICY IS: FEE SIMILE
3. TITlE TO THE ESTATE OR INI'EREsr m THE LAN) IS VESTED BY:
Dee::1 rrade by NOR'IH FORK BANK AS SUXESroR BY MERGER TO THE NOR'IH
KlRK BANK AN) TRUST cx:MPANY to the INSURED dJ.ted 9/21/93 and duly
recorde::1 in the Office of the Clerk for the Count;y of Suffolk.
4. THE LAN) REFERRED TO m THIS FOLICY IS IESCRIBED m SIUD INSTRUMENT', IS SITUATED m THE
mUNI'Y OF SUFFOLK, srATE OF NEW YORK, AND IS IDENI'IFIED AS FOLICWS:
EEe Sche:iule "A" Attache::1
Countersigne:i: t{d-Lh- d~
Authorized Offia:>r or t '
SOJEDUIE B
EXCEPI'IONS FROM COVERAGE
POLICY NO. 166-007064
FILE NO. RH921919
'This policy <'bes not insure agoinst loss or damage (and the Canr::any will not
pay costs, att=EYs' fees or expenses) which arise by reason of:
1. Original contract of sale ffilSt be presented at, or prior to, closing.
2. Survey rrade by Young and Young, dated February 2, 1971 and last datErl 9/28/89,
sh= pranises improved by a one story stucco building and ootached stucco gorage;
(a) telephone box and electric meter in scuthwest comer; (b) gas punp in easterly
portion of pranises; (c) light poles to rear of building; (d) asI;halt puking area
with con:::rete retaining wall, belgian blOCk curbs and con::rete curbs which enter
owr and onto the abutting streets; (e) overhead utility lines project from poles
in street across the northwesterly corner of pranises. N::> other variations or
encroachments shown.
3. Canr::any excepts any state of facts since date of above survey.
4. Canr::any excepts rights of utility canr::anies in and to the box, neter and utility
lines as shown on survey herein and their right to rraintain same.
5. Unpaid vater charges to d3te, if any.
-..,....-,------,-----A.-,,_.,
CJ)MM)!iWEALTH LAND TI'ILE INSURANCE CDMPANY
SI'ANDARD NEW YORK ENIDRSEMENI
ONNER'S FOLICY
To be attached and made a ];art of Policy Numter: 166-007064
1. The follONing is adCEd to the insuring provisions of the face r:age of this policy:
"5. Any statutory lien for services, labor or rraterials furnished prior to the rete hereof,
and which has nON' gained or Which may hereafter gain priority over the estate or interest
of the insured as shONn in Schedule A of this policy."
2. The fOllONing is adCEd to Paragraph 7 of the Corrlitions and Stipulations of this policy:
"(d). If the recording rete of the instrurrents creating the insured interest is later than the
policy date, such policy shall also .CQVer intervening liens or encunbrances, except real
estate taxes, assessrrents, vater charges and se.er rents."
3. Paragraph NU1lber 4 of the Exclusions Fran Coverage is deleted and the following paragraph
is substituted in its place:
"4. Any claim, which arises out of the tramaction vesting in the insured the estate or
interest insured by this policy, by reason of the operation of feeeral bankruptcy,
state in sol ve r:cy , or similar creditors' rights laws that is based on:
(a) the transaction creating the estate or interest insured by this policy being deemed
a fraudulent conveyance or fraudulent transfer: or
(b) the transaction creating the estate or interest insured by this policy being deemed
a preferential transfer except Where the preferential transfer results from the
failure:
(i) to tirrely re:::ord the instrurrent of transfer: or
(ii) of such recordation to iI11[l3.rt notice to a purchaser for value or a judgrrent or
lien creditor. "
Nothing herein contained shall be construed as exterrling or changing the effective date of said
policy, unless otherwise expressly stated.
This errlorserrent is made a part of the policy and is subject to all the tenns and provisions
thereof and of any prior endorserrents thereto. Except to the extent expressly stated, it
neither m::rlifies any of the tenns and provisions of the policy and any prior errlorserrents, nor
<:bes it extend the effective date of the policy and any prior endorserrents, nor <:bes it increase
the arrount of insurance.
Dated: 09/21/93
CJ)MM)!iWEALTH LAND TI'ILE INSURANCE CJ)MPANY
BY: tfii5t/ ~ <'// $~
VI CE PR ENI AND BJW.;!CH ER
CXMM)N\'EAL'IH LAID TI'ILE lNSURAN:E CXMPANY
TI'ILE NO. Rill 21919
SCHEIXJIE A
THE PREMISES IN WHIG! THE INSURED Hl\S THE EsrATE OR INrEREST C<M:RED B'{ THIS roUCY
ALL that certain plot, piece or parcel of land, with the buildings am inprarements
thereon erected, sitl.Bte, lying and l:eing at !>at tit:uck, in the TOWl of S:>uthold, (bun ty
of Suf folk and State of N6'l Yo:r:k, bounderl and descr:ibed as follows:
BEGlNNlN3 at the comer formed by the intersection of the southerly side of South
Avenue (North Roed) with the easterly side of Paci fie Street;
RIlNNIN3 'IHEN:E N:lrth 77 deg:"ees 31 minutes East, along the southerly side of South
Avenue, 197.02 feet to land nO\' or forrrerlyof Ma ttituck Pr~erian Church;
'IHEN2E South 7 deg:'ees 06 minutes East aJorg said last rrentioned land, 255.18 feet to
land nO\' or fornerly of Peter and Natalie Andrusio;
THEN:E South 72 deg:-ees 51 minutes \'est alorg said last rrentioned land, 198 feet to the
eas terly side of Paci fie Street;
'I'HEN:E alorg the eas terly side of Paci fie Street, the fol kMing U\IO courses and
distances:
(1) North 13 degrees 52 minutes West 7.17 feet;
(2) North 7 deg:-ees 11 minutes \'est 264.17 feet to the point or place of BEGINNING.
FOR CON\lEYAN:ING aND{, (Tcgether with all r:ight, title and interest of, in
IF INI'EIDED IOR CDNVEYMCING(and to any streets and roeds cbutting the abare
(described premises, to the center line thereof.
CONDIT.JONS' AND STIPULA nONS
7. DETERMINATION, EXTENT OF LIABILITY AND COINSURANCE.
This policy is a contract of indemnity against actual monetary loss or
damage sustained or incurred by the insured claimant who has suffered loss
or damage by reason of matters insured against by this policy and only to
the extent herein described.
(a) The liability of the Company under this policy shall not exceed the
least of:
(i) the Amount of Insurance stated in Schedule A; or,
(ii) the difference between the value of the insured estate or interest as
insured and the value of the insured estate or interest subject to the defect.
lien or encumbrance insured against by this policy.
(b) In the event the Amount of Insurance stated in Schedule A at the
Date of Policy is less than 80 percent of the value of the insured estate or
interest or the full consideration paid for the land, whichever is less, or if
subsequent to the Date of Policy an improvement is erected on the land
which increases the value of the insured estate or interest by at least 20
percent over the Amount of Insurance stated in Schedule A, then this
Policy is subject to the following:
(i) where no subsequent improvement has been made, as to any partial
loss, the Company shall only pay the loss pro rata in the proportion that
the amount of insurance at Date of Policy bears to the total value' of the
insured estate or interest at Date of Policy; or
(ii) where a subsequent improvement has been made, as to any partial
loss, the Company shall only pay the loss pro rata in the proportion that
120 percent of the Amount of Insurance stated in Schedule A bears to the
sum of the Amount of Insurance stated in Schedule A and the amount
expended for the improvement.
The provisions of this paragraph shall not apply to costs, attorneys' fees
and expenses for which the Company is liable under this policy, and shall
only apply to that portion of any loss which exceeds, in the aggregate, 10
percent of the Amount of Insurance stated in Schedule A.
(c) The Company will pay only those costs, attorneys' fees and expenses
incurred in accordance with Section 4 of these Conditions and Stipulations.
8. APPORTIONMENT.
If the land described in Schedule A consists of two or more parcels
which are not used as a single site, and a loss is established affecting one or
more of the parcels but not all, the loss shall be computed and settled on a
pro rata basis as if the amount of insurance under this policy was divided
pro rata as to the value on Date of Policy of each separate parcel to the
whole, exclusive of any improvements made subsequent to Date of Policy,
unless a liability or value has otherwise been agreed upon as to each parcel
by the Company and the insured at the time of the issuance of this policy
and shown by an express statement or by an endorsement attached to this
policy.
9. LIMITATION OF LIABILITY.
(a) If the Company establishes the title, or removes the alleged defect,
lien or encumbrance, or cures the lack of a right of access to or from the
land, or cures the claim of unmarketability of title, all as insured, in a
reasonably diligent manner by any method, including litigation and the
completion of any appeals therefrom, it shall have fully performed its
obligations with respect to that matter and shall not be liable for any loss
or damage caused thereby.
(b) In the event of any litigation, including litigation by the Company
or with the Company's consent, the Company shall have no liability for
loss or damage until there has been a final deternlination by a court of
competent jurisdiction, and disposition of all appeals therefrom, adverse to
the title as insured.
(c) The Company shall not be liable for loss or damage to any insured
for liability voluntarily assumed by the insured in settling any claim or suit
without the prior written consent of the Company.
10. REDUCTION OF INSURANCE; REDUCTION OR TERMINATION
OF LIABILITY.
All payments under this policy, except payments made for costs,
attorneys' fees and expenses, shall reduce the amount of the insurance pro
tanto.
11. LIABILITY NONCUMULATIVE
It ts expressly understood that the amount of Insurance under this
policy shall be reduced by any amount the Company may pay under any
polley insuring a mortgage to which exception is taken In Schedute B or to
which the insured has agreed, assumed, or taken subject, or which Is
hereafter executed by an insured and which is a charge or lien on the
estate or interest described or referred to in Schedule A, and the amount
so paid shall be deemed a payment under this policy to the insured owner.
12, PAYMENT OF LOSS.
(a) No payment shall be made without producing this policy for endorsement
of the payment unless the policy has been lost or destroyed, in which case proof
of loss or destruction shall be furnished to the satisfaction of the Company.
NM 1
ALTA Owner's Policy (4-6-90)
Form 1171-3 Cover Page
ORIGINAL
(Continued)
(b) When liability and the extent of loss or damage has been definitely
fixed in accordance with these Conditions and Stipulations, the loss or
damage shall be payable within 30 days thereafter.
13. SUBROGATION UPON PAYMENT OR SETTLEMENT.
(a) The Company's Right of Subrogation.
Whenever the Company shall have settled and paid a claim under this
policy, all right of subrogation shall vest in the Company unaffected by
any act of the insured claimant.
The Company shall be subrogated to and be entitled to all rights and
remedies which the insured claimant would have had against any person or
property in respect to the claim had this policy not been issued. If
requested by the Company, the insured claimant shall transfer to the
Company all rights and remedies against any person or property necessary
in order to perfect this right of subrogation. The insured claimant shall
permit the Company to sue, compromise or settle in the name of the
insured claimant and to use the name of the insured claimant in any
transaction or litigation involving these rights or remedies.
If a payment on account of a claim does not fully cover the loss of the
insured claimant, the Company shall be subrogated to these rights and
remedies in the proportion which the Company's payment bears to the
""hole amount of the loss.
If loss should result from any act of the insured claimant, as stated
above, that act shall not void this policy, but the Company, in that event,
shall be required to pay only that part of any losses insured against by this
policy which shall exceed the amount, if any, lost to the Company by
reason of the impairment by the insured claimant of the Company's right
of subrogation.
(b) The Company's Rights Against Non-insured Obligors.
The Company's right of subrogation against non-insured obligors shall
exist and shall include, without limitation, the rights of the insured to
indemnities, guaranties, other policies of insurance or bonds,
notwithstanding any terms or conditions contained in those instruments
which provide for subrogation rights by reason of this policy.
14. ARBITRATION
Unless prohibited by applicable law, either the Company or the insured
may demand arbitration pursuant to the Title Insurance Arbitration Rules
of the American Arbitration Association. Arbitrable matters may include,
but are not limited to, any controversy or claim between the Company and
the insured arising out of or relating to this policy, any service of the
Company in connection with its issuance or the breach of a policy
provision or other obligation. All arbitrable matters when the Amount of
Insurance is $1,000,000 or less shall be arbitrated at the option of either the
Company or the insured. All arbitrable matters when the Amount of
Insurance is in excess of $1,000,000 shall be arbitrated only when agreed to
by both the Company and the insured. Arbitration pursuant to this policy
and under the Rules in effect on the date the demand for arbitration is
made or, at the option of the insured, the Rules in effect at Date of Policy
shall be binding upon the parties. The award may include attorneys' fees
only if the laws of the state in which the land is located 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.
The law of the situs of the land shall apply to an arbitration under the
Title Insurance Arbitration Rules.
A copy of the Rules may be obtained from the Company upon request.
15. LIABILITY LIMITED TO THIS POLICY; POLICY ENTIRE
CONTRACT.
(a) This policy together with all endorsements, if any, attached hereto
by the Company is the entire policy and contract between the insured and
the Company. In interpreting any provision of this policy, this policy shall
be construed as a whole.
(b) Any claim of loss or damage, whether or not based on negligence,
and which arises out of the status of the title to the estate or interest
covered hereby or by any action asserting such claim, shall be restricted to
this policy.
(c) No amendment of or endorsement to this policy can be made
except by a writing endorsed hereon or attached hereto signed by either the
PreSident, a Vice President, the Secretary, an Assistant Secretary, or
validating officer or authorized signatory of the Company.
16. SEVERABILITY.
In the event any provision or the policy is held invalid or unenforceable
under applicable law, the policy shall be deemed not to include that provi-
sion and all other provisions shall remain in full force and effect.
17. NOTICES, WHERE SENT.
All notices required to be given the Company and any statement in
writing required to be furnished the Company shall include the number of
this policy and shall be addressed to Commonwealth Land Title Insurance
Company, Eight Penn Center, Philadelphia, Pennsylvania 19103-2198.
Valid Only If Face Page, Schedules A and B Are Attached
NEW YORK OFFICES
American Land Title Association
Owner's Policy
(4-6-90)
Il
LJ NEW YORK CI1Y
655 Third Avenue
New York, New York 10017
(212) 949-0100
POLICY
OF
TITLE
INSURANCE
Il
LJ BUFFALO
298 Main Street
Buffalo, New York 14202
(716) 853-6800
-Il
LJ
GARDEN CI1Y
370 Old Country Road
Garden City, New York 11530
(516) 742-7474
Il
LJ
RIVERHEAD
177 Old Cournry Road
Riverhead, New York 11901
(516) 727-7760
@
Il
LJ WHITE PLAINS
131 Court Street
White Plains, New York 10601
(914) 949-0002
laued by
Commonwealth.
Land Title Insurance Company
NATIONAL TITLE SERVICE
655 Third Avenue
New York, New York 10017
(212) 949-0100
Title lnsufllnce Since 1876
HOME OFFICE
EIGHT PENN CENTER
PHILADELPHIA, PA 19103-2198
B 1171-3
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NEW YORK STATE OFFICE
655 Third Avenue
New York, New York 10017
Phone: (212) 949-0100