Aimwell School Association property insurance document

be solicitors Company.





No 7 | AMO ts $222 OG: yout s

Chis Policy of Insurance witnesseth that THE SOLICITORS’ COMPANY,





dollars,











and all persons claiming the estate and property hereinafter mentioned under.44.————... by descent, by will, or under
the intestate laws, and all other persons to whom this Policy may be transferred with the assent of this Company, testified

by the signature of the proper officer of this Company endorsed on this Policy, against all loss or damage, not exceeding



dollars, which the said Insured shall sustain by
reason of defects or unmarketability of the title of the Insured to the estate, mortgage, or interest described in Schedule
A hereto annexed, or because of liens or incumbrances charging the same at the date of this Policy ; saving estates,
defects, objections, liens, or incumbrances excepted in Schedule B, or by the conditions of this Policy hereto annexed
and hereby incorporated into this contract—the loss and the amount to be ascertained in the manner provided in the
annexed conditions, and to be payable upon compliance by the Insured with the stipulations of said conditions, and not
otherwise. This Policy is issued upon an application by or on behalf of the Insured, numbered... and

agreed by all parties claiming under this Policy to be a warranty of the facts therein stated.

In Witness Whercof, the Common Seal of the said Company is hereunto affixed, this

ag. ben 5S OG se ee Ea day-oLs... H wipe in the year of our Lord One Thousand


SCHEDULE A: SCE DUE? B;

SS OO VV ERG,

I.
eee ae WHICH THE COMPANY DOES NOT AGREE TO INSURE OR INDEMNIFY.
interest of the In-
sured covered by

this Policy. Walesa as WNotgage

Estates, DEFECTS, OR OBJECTIONS TO TITLE, AND LIENS, CHARGES, OR INCUMBRANCES THEREON, WHICH DO OR MAY NOW EXIST, AND AGAINST

PZ

Dasctitomest | Morkgage ae oh naan Oy the ol ae for AO’.

the Property ste
title to which is
insured,

Lemises Perth side af Prveng Shek 10 0fek Jel of Soitedie Shreeh
G

|

Vewenly. Seventh Sparc, Phila dif hia
2 fa

S00 fee Leef

ANalid Odbibir LE& 1966

WH con oe oe o fo Fea [LOGE

COMP PLO NS +O). VEL is.-POLICY:



my

3°
The Deed or
other means by
which title is vested
in the Insured.

1. No claim shall arise under this Policy unless (I.) the party insured has
been actually evicted under an adverse title insured against, or (II.) there has
been a final judgment upon a lien or incumbrance not excepted in the Policy ;
or (III.) unless the Insured shall have contracted to sell the insured estate or
interest, and the title has been rejected, because of a defect or incumbrance not
excepted in the Policy. In this latter case, the loss or damage by reason of
such defect or incumbrance, shall be payabie within thirty days after written
notice to the Company and proof of loss, unless the Company shall demand
a valuation 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 the Com-
pany, and the two so chosen selecting an umpire. No right of action shall
accrue until thirty days after notice of such valuation shall have been served
upon the Company, and the Insured shall have tendered a conveyance of the
insured estate or interest to a purchaser to be named by the Company, at such
valuation, clear of, or with proper deductions for all incumbrances other than
those hereby insured against, and the Company shall have failed within that
time to find a purchaser for the estate on those terms.

2. THE SOLICITORS’ COMPANY will, at their own cost defend the Insured
in all actions of ejectment or other proceedings founded upon a claim of
title or incumbrance prior in date to this Policy, and not excepted therein.
In case any person having an interest in this Policy shall receive notice or
have knowledge of any such action or proceeding, it shall be the duty of such
person at once to notify the Company thereof in writing, and secure them the
right to defend the action. Unless the Company shall be so notified within
ten days, the insurance shall be void as to such persons.

3. Any untrue statement made by the Insured or his agent, affecting the
insurance, or any suppression of any material fact, or any untrue answer to
written questions signed by the Insured or his agent, before the issuing of the
Policy, shall avoid the Policy: but an assignee for value to whom the Policy
has been transferred with the consent of the Company endorsed thereon, shall
not be affected by any untrue statements or answers, or suppressions or breach
of warranty contained in the application, of which he was ignorant at the time
the assent to the transfer to him was endorsed by the Company.

4. Whenever the holder of an insurance on his title as owner in fee, shall,
within five years from the date of the Policy, seil the real estate therein de-
scribed, and shall within thirty days thereafter apply for a new insurance on
the same title, to be issued to himself or his grantees, then, if the risk be again
accepted by the Company, the former Policy shall be surrendered and canceled,
and four-fifths of the sum paidas premium therefor, will be allowed asa deduc-
tion from the premium on the new Policy.



5. In case a new Policy shall be issued to a mortgagee or other holder of
an incumbrance on the insured estate, in lieu of one previously issued to the
owner of the property, the whole premium originally paid by such owner shall
be allowed on the new premium. The liability of the Company to any holder
of a Policy as collateral security, shall in no case exceed the amount of the
pecuniary interest of such holder in the property described.

6. This Policy may be transferred as follows, viz.:—

I. To the heirs, devisees, legatees, or next of kin of the Insured upon the
death of the Insured.

II. As collateral security to mortgagees, holders of ground-rents, or others
interested only as creditors in the title insured.

III. If it shall have been issued solely upon a ground-rent, mortgage, or
other incumbrance, or

IV. If it shall have been issued to cover some special risk, such as dece-
dents’ debts or mechanics’ liens, the insurance against such risk may be trans-
ferred. In case of Transfers of the Policy, defects and incumbrances arising
after the date of the Policy, or created or suffered by the Insured, are not to
be deemed covered by the contract.

7. No transfer will be valid until it shall have been approved by the Com-
pany, and such approval may be refused if not applied for within thirty days
after the conveyance or assignment of the interest insured. The Company will
be entitled to a fee of one dollar for each transfer approved.

8. All interest in this Policy (saving that for damages accrued) shall cease
by the transfer of the Policy, or of the title insured, except where the transfer
of the Policy is authorized by its conditions. Partial transfers of title shall
reduce the insurance in the proportion of the value of the estate transferred
to that retained. Such transfers shall not affect the interest of a holder of this
Policy as collateral security, with the consent of the Company endorsed.

g. All payments under this Policy shall reduce the amount insured fro
tanto, and no payment can be demanded without producing the Policy for
endorsement of such payment. If the Policy be lost, indemnity must be fur-
nished to the satisfaction of the Company.

1o, Whenever the Company shall have settled a claim under this Policy,
they shall be entitled to all the rights and remedies which the Insured would
have had against any other person or property had the Policy not been made.
The Insured undertakes to transfer to the Company such rights, or to permit
them to use the name of the Insured, for the recovery thereof. If the payment
do not cover the loss of the Insured, the Company shall be interested in such

| rights with the Insured in the proportion of the amount paid to the amount of
| the loss not thereby covered. The Insured warrants that such right of subro-
| gation shall vest in the Company, unaffected by any act of the Insured.




Sn approving Tranusiers no liability is assumed subsequent to the Date of the Policu, unless so
expressly noted.

SPS POR years Se NS rr ie ty ae POO



























DATE ASSIGNOR | ASSIGNEE WITNESS APPROVED
| | iia ae Teer ey
Read the Conditions of this Policy.
Che
Bolicitors’ Company,
411 and 413 Walnut St,
Philadelphia.
OFFIGERS. DIREGMORS.







FREDERICK S. DICKSON,

President, WILLIAM B. SCOTT,
FREDERICK S. DICKSON. WILLIAM HACKER,

WILLIAM L. WAGNER,
Vice-President, DB 7 Pee RRC ee ta fs, ae ree ote ee

RICHARD W. CLAY,
RICHARD W. CLAY. CHARLES T. PARRY,

yp yoe CHARLES W. FUNK,

LEWIS H. REDNER,



Solicitor,

RICHARD 5.. HUNTER. RICHARD S. HUNTER,

‘ Dy wp . od ; ALEXANDER P. PURVES,
Treasurer, _ Premises 4407/7 ele aah alee c WILLIAM T. TIERS,

GEORGE M. WAGNER. WILLIAM B. ROBINS,

J. CARROLL McCAFFREY.



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