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OCT-26-2000 THU 06:39 PM BURNET TITLE WAYZATA FAX NO. 8124750592 P. 08
<br />OWNER'S COVERAGE STATEMENT
<br />Thls Policy insures ygu against Qctual loss. including 1ny c;osls, attorneys' feeg and expenses prOVlded under this pgficy, resuldng rrom the Coye,-.<,f RlskG
<br />set forlh below, if the Larid i$ an improved re&idential lol on which !hero Is lor;:~t~d a ono-11:1--four family residence ond qch insured named In Schedule
<br />A j:; a Nat1.1ro1I Person.
<br />Your fnsumncs js effective on \he Policy Dote. This Policy caver.s Your actual ,~~ from any rh1k described under Covered Riiks if the event cre:iUng
<br />the risk exists on U,e Policy Dole or, to the extent oxpressly stalad, aflar the Policy Date.
<br />Your lnsuror1c0 is limited by DII of th• following:
<br />• Th• Policy Amount shown in Schedule A
<br />• For Covered Risk 1-4, 15, 16, and 18, Your Oeductlbh~ Amount end 01.1r
<br />Maximum Dollar Limit of Liability shown in Sc;hedule A
<br />• Exceptlona In Schedule B
<br />• Dur Duty To Defend Ag-.insl Lfi9:>I Ac:lions
<br />• Exclu1aicn11 on poge 3
<br />• CondilioM on pages 3 and 4.
<br />COVERED RJSKS
<br />The CovQr11cl Risk$ are:
<br />1. Someone mlH owns M lri~$l in Your Tnle.
<br />2. Si;,m,,;1ne el:.e hm. rights affecting Your '1111e crhrring out of lea&us,
<br />eenrracl$, or options.
<br />~. Si;imeono ol:.a claims to have right.s affecting Y~r nue arl:.lng out
<br />er foroery or ltnper~onation.
<br />4. Somsona else has an sc1sement 0r1 111• Lwid.
<br />S. Somoonc •Is• has a rl9hl lo limit Your use cf the Loni:f.
<br />6. Yot.ir Title is defective.
<br />7. Any of Covered Risks 1 through 6 occurring nflef 1h• f>Q&cy Date,
<br />S. Someone else has a lion on Yo1JT 1ille, Including a;
<br />•· Mortgage;
<br />b. Judgment, ~talc or recleral tax lien, or special ostessment;
<br />0. c;h.:ir~c by a homeowner's or condominium 111:.i:ocl.ltlon; gr
<br />d. lien, occurring before or l!fn!,f Iha f>Qicy Date, for labor :ind
<br />m:.itorl~ furnished before lhe poffcy Oate.
<br />9. Someone etsa hill'5 cm encumbr.nca on Your TiUe.
<br />10. Someone else clalrna to have rights •~ting Your TrUe arising out
<br />of frnud, duren, incompetency or lncop11etty.
<br />11. You do not hlllle both aelUaJ \lehicldl~r and paclealrliin oc<:ess 10
<br />i'.11\d from lhe Land, b.5ed upon Q legc1I right
<br />12. You Dre forced to corract Qr remove ..., existing vlolallon of any
<br />c:ovem~nt, condilicn or restriction aff'ecting \he Land, even Ir the
<br />coven11nt, c01'\cl1~1m or rei,trlctian Is excepted In Schedule B.
<br />13. Your TIUo 111 lo.tor taktll'I because of Q vlol•lion C1f any QCIVenan~
<br />condition or r•1lriction, whic:h oci;urred before You ilCqulrecf Your
<br />lillo, even if the covenant, condilloh or re$lrlctlon la excepted in
<br />Sch&,;lule 13,
<br />14. Bac:aui:e of on ellisUng .i0l.1llori or • a1.1bdlvlslon lc1w or reguh11ion
<br />affeeting lhe Land:
<br />o. You are unuble to obu.ln ci building permit;
<br />I>. Yetj are forced l'1 i::orrect 01 remove the vlol11ion; or
<br />c. someone else has o fes•I right to, .ind dce.s, refuse ta pedcrn-1
<br />• conlroct to pu~hooe the Land, le-ooe It or make a Mortgage
<br />loan on lL
<br />Th~ omounl of Your insurnnce 1or lhl:. Cov■r..:1 Risk Is Sl.lbject to
<br />Your Deduclihle AmOUt'lt 11nd Our Maxim1.1m D0lh1r Limit of U-'l:iilily
<br />ahQwn In Schedule A.
<br />15. You nre rorced to tetnovo or .rernedy Your exls~t'l!J sln.lctures, or any
<br />part or lhttm -other th.an bo1.11dery wills or fences • bec3US& any
<br />po1Uon was built y,,jlh01.1I Qblalnln9 a building permit from Ifie proper
<br />oovemmunl office. Thei amount of Yo11r insur.:inca for this Covered
<br />Risk is rub/&cl lo YQA.lr Deductible .Amount ar,d Our Mnxlr,,i.m Ooll.w-
<br />Lirnll cf Ll.-ability Ghown in Schodula A.
<br />16. You are forct,d lo 111move ot remedy Yo11 l!l)(tsling Sb"Uch.iree, Qr any
<br />part of tham, becuuse they vlolala .in exli;llng .zoning law or zoning
<br />regulaUon. If You are r■qulred to remedy eny parUon of Yollr
<br />exlal/ng struewre1;1, the emount or Your lnsunmce for 1hls cow,racl
<br />~~.,k Is :1ubjec;t lo Your Oed1.1ctible Amount 11nd Our MW<imum Collar
<br />Llmil or Liab!Rly shown In Schadi.lle A.
<br />Our Duty To Oafand Against Legal Actiona
<br />17. You cannot use lhe L•nd because use as a single-f211T1ify retld«icei
<br />vlol;1!es ao eideting zoning law or zor,!119 ~ulaHon.
<br />18. You are forced lo ~move Your axisUng slructuree becauso \hey
<br />encroilCh onto Your neighbor's land. If the encroaching structures
<br />are boundory wills or fences, the amount cf Your lnsur<Vl~ fer
<br />thi11 Covered Risk Is &.1bJect to Your Dedudlble Amount and Our
<br />Maximum Collar Umlt cf UabRlty shown in Schedll!a A,
<br />19. Someone else has a leglll right lo, and dcee, refuse to perform o
<br />contract to purchase the Land, leaae It or l'rl"l<e 'ii Mortgaga loan
<br />on ll because Your heighbor's exl:.Ung structures encroach on Iha
<br />Land.
<br />20. You are foreccl to remove Your exi!illing strucll.lres which eh~h
<br />onto an eo1eement or over e btJQdi11g ~-back llne, even If !he
<br />easement or building sat-back &ne Is excepted in Schedl.lle 8.
<br />21. Your lilxl&ling struetutse are darno.ged becauso of lhe exerebo of
<br />o right to maintain or use any essen111nt atre.cllng tho utnc!. even
<br />if the ea:iement l.s excepted In Schecfllli:, B.
<br />22. Yo1.1t exi!l:ting lmprcv11ments (or a replacement or modificoldoti
<br />made to them after the Polley Date), incfucllng llilWl'ls, shrubbery or
<br />tees, are d31Tl~ed because of the futtm!I exMase of a right ta use
<br />lhe surface of ti\e L<Wld for U,a extraction or development of
<br />minar.ala, wat&r er any other substance, even if lhose righla are
<br />excepted er r■Hrved m,m (ha descripUon of the Land or excepted
<br />in Schedulo B.
<br />23. Son-1eone elee tries to enforce a dlsc:.riminalol}' cov11n1nl, condlUon
<br />or reGtric:llon that 1hey daim affects Yo1.1r Tide which l:s based upon
<br />race, ,;:olor, r~i9icn, sex, handicap, temDl~I J;t~tus, or naUgnal
<br />erlgln.
<br />24, A taxing aulhorlty assesMs supplemen\11 re31 estata t;i.xes not
<br />preViously UHQed 3gafnst thlol Land fer any period l>efore the
<br />Policy Dais becausa or construcHon or a ch.:vige or ownership or
<br />utie thdt OcCllrred befcra Iha Polley Dale.
<br />.Z5. Your neighbor builds any structures after 1he Policy Date -ether
<br />thM bOllnclary walls or f.imces -which encrot1ch onlQ the Lilnd.
<br />26. Y01.1r 1iUe Is unmarketabli!l, Which allows someone else to refuse
<br />lo perform a cantrac:I to purchc1se the L1111c!, l•,11se II or make o
<br />Mortgage loan on it
<br />27. A document upon whieh Your 'title 1$ b,1&ed i, inv.illd because ll
<br />was not properly A!gned, se.l111cl, acknowledged, denverocl or
<br />recorded.
<br />2S. The raeidence. with lh• address &hewn In Schedule A I~ l'\Ot Jot:ffled
<br />on the Lcind at lho Pc1icy Dote.
<br />29. The map, If ariy, atlE!ciled to lhili Policy does not ehow th• correct
<br />loeaUon of the LMd l!ICCOrding to l11• Pubnc Records.
<br />We wilf defend Your 11Ue In any legal ac~on only as to that pDrt of the /lclio11 whk:h I~ baud en a Covered Risk Dnd which Is not eJCcepled or exclllded
<br />from cover.0911 in this Policy, We will pay the cost&, ,1ttorneys' fHil, and l!l)Cpenses W= lnc;ur in that d11rense.
<br />We will not p~ fcii iln)' piart of the legal action ~hich is not bilHd on il Covered RJ:.k or which I~ excepted er excluded frorn cover3.g<t In thlc Polley.
<br />W• can end Our dtrty to defond Your Tille i.ncler paragraph 4 of lhe Conditlons,
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