LIABILITY NONCUMULATIVE Clause Samples

LIABILITY NONCUMULATIVE. The Amount of Insurance shall be reduced by (a) any amount the Title Policy Coinsurers pay under the Lender’s Title Policy, or under any policy insuring a Mortgage which is executed by an Insured after Date of Policy and which is a charge or lien on the Title, and (b) any amount the UCC Policy Coinsurers pay under the UCC Policy, and the amount so paid shall be deemed a payment to the Insured under this policy. This endorsement is issued as part of the policy. Except as it expressly states, it does not (i) modify any of the terms and provisions of the policy, (ii) modify any prior endorsements, (iii) extend the Date of Policy, or (iv) increase the Amount of Insurance. To the extent a provision of the policy or a previous endorsement is inconsistent with an express provision of this endorsement, this endorsement controls. Otherwise, this endorsement is subject to all of the terms and provisions of the policy and of any prior endorsements. Dated: April 5, 2011 In witness whereof, ▇▇▇▇▇▇▇ Title Guaranty Company has caused this policy to be signed and sealed by its duly authorized officers as of Date of Policy shown in Schedule A. Countersigned by: Authorized Countersignature ▇▇▇▇▇▇▇ TITLE OF CALIFORNIA, INC. ALTA 26-06 Subdivision Endorsement ATTACHED TO POLICY NO. O-9301-276407 ISSUED BY Order No.: 353340.3 Fee: $0.00 Endorsement Number: E-9936-8921301 The Company insures against loss or damage sustained by the Insured by reason of the failure of the Land to constitute a lawfully created parcel according to the subdivision statutes and local subdivision ordinances applicable to the Land. This endorsement is issued as part of the policy. Except as it expressly states, it does not (i) modify any of the terms and provisions of the policy, (ii) modify any prior endorsements, (iii) extend the Date of Policy, or (iv) increase the Amount of Insurance. To the extent a provision of the policy or a previous endorsement is inconsistent with an express provision of this endorsement, this endorsement controls. Otherwise, this endorsement is subject to all of the terms and provisions of the policy and of any prior endorsements. Dated: April 5, 2011 In witness whereof, ▇▇▇▇▇▇▇ Title Guaranty Company has caused this policy to be signed and sealed by its duly authorized officers as of Date of Policy shown in Schedule A. Countersigned by: Authorized Countersignature ▇▇▇▇▇▇▇ TITLE OF CALIFORNIA, INC. ALTA 18-06 Tax Parcel Endorsement (Modified) ATTACHED TO POLICY NO. O-9301-27...

LIABILITY NONCUMULATIVE. It is expressly understood that the amount of insurance under this policy shall be reduced by any amount the Company may pay under any policy insuring a mortgage to which exception is taken in Schedule 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. The provisions of this Section shall not apply to an insured lender, unless such insured acquires title to said estate or interest in satisfaction of the indebtedness secured by an insured mortgage.

LIABILITY NONCUMULATIVE. It is expressly understood that the amount of insurance under this policy shall be reduced by any amount the Company may pay under any policy insuring either (a) a mortgage shown or referred to in Schedule B hereof which is a lien on the estate or interest covered by this policy, or (b) a mortgage hereafter executed by an insured 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. The Company shall have the option to apply to the payment of any such mortgages any amount that otherwise would be payable hereunder to the insured owner of the estate or interest covered by this policy and the amount so paid shall be deemed a payment under this policy to said insured owner. CONDITIONS AND STIPULATIONS (CONTINUED ON REVERSE SIDE) 55 SCHEDULE A Your Ref: Policy No. 05 0057-60-9690019 ORDER NO. 9690019 Premium: $___________ Amount of Insurance: $19,000,000.00 Date of Policy: at 8:00 A.M. 1. Name of Insured: PGP NORTHERN INDUSTRIAL L.P., A DELAWARE LIMITED PARTNERSHIP 2. The estate or interest in the land which is covered by this policy is: A FEE 3. Title to the estate or interest in the land is vested in: PGP NORTHERN INDUSTRIAL L.P., A DELAWARE LIMITED PARTNERSHIP 4. The land referred to in this policy is situated in the State of California, County of Alameda and is described as follows: SEE ATTACHED DESCRIPTION This Policy valid only if Schedule B is attached 56 DESCRIPTION Page 1 POLICY NO.: 05 0057-60-9690019 CITY OF HAYWARD PARCEL 1: PARCEL 1, PARCEL MAP 1288, FILED SEPTEMBER 25, 1973, BOOK 80 OF PARCEL MAPS, PAGE 27, ALAMEDA COUNTY RECORDS. ASSESSOR'S PARCEL NO.: 481-▇▇▇▇-▇▇▇ PARCEL 2: PARCEL 1, PARCEL MAP 939, FILED JULY 13, 1972, BOOK 76 OF PARCEL MAPS, PAGE 10, ALAMEDA COUNTY RECORDS. EXCEPTING THEREFROM THAT PORTION DESCRIBED IN THE DEED TO EDEN ROCK COMPANY. NO. 3, A JOINT VENTURE RECORDED JULY 31, 1978, REEL 5508, IMAGE 378, SERIES NO. 78-145175, OFFICIAL RECORDS. ASSESSOR'S PARCEL NO.: 461-0015-020-02 PARCEL 3: PARC▇▇ ▇, ▇▇▇▇▇▇ ▇▇▇ NO 939, FILED JULY 13, 1972, IN BOOK 76 OF PARCEL MAPS, PAGE 10, ALAMEDA COUNTY RECORDS. TOGETHER WITH: ALL THAT CERTAIN REAL PROPERTY BEING A PORTION OF PARCEL 1 AS SHOWN IN "PARCEL MAP NO 939" WHICH MAP IS FILED IN BOOK 76 OF PARCEL MAPS AT PAGE 10, ALAMEDA COUNTY RECORDS, SAID REAL PROPERTY BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: BEGINNING AT THE CORNER COMMON TO PARCELS 1 AND 2 ON THE NORTHWESTERLY LINE OF CO...

LIABILITY NONCUMULATIVE. It is expressly understood that the amount of insurance under this policy shall be reduced by any amount The Fund may pay under any policy insuring a mortgage to which exception is taken in Schedule 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.

LIABILITY NONCUMULATIVE. If the insured acquires title to the estate or interest in satisfaction of the indebtedness secured by the insured mortgage, or any part thereof, it is expressly understood that the amount of insurance under this policy shall be reduced by any amount the Company may pay under any policy insuring a mortgage to which exception is taken in Scehdule 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 Scehdule A, and the amount so paid shall be deemed a payment under this policy.

LIABILITY NONCUMULATIVE. If the insured acquires title to the estate or interest in satisfaction of the indebtedness secured by the insured mortgage, or any part thereof, it is ex- pressly understood that the amount of insurance under this policy shall be reduced by any amount the Company may pay under any policy insuring a mortgage hereafter executed by an insured 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.