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conditions and stipulations continued and conctuaea
<br /> if loss should:resOm any act of the insured claimant, as stated above,
<br /> (b) In the event of any litigation, including litigation by the Company or that act shall not void this policy, but the Company,
<br /> the
<br /> f any,
<br /> in that event, shall be
<br /> required to pay only that part lif any losses insured ogoinst by this pahcy which
<br /> with the Company's consent, the Company shall have no liability for loss or d
<br /> q
<br /> damage until there has been a final determination by a court of competent merit by the insured claimant of the Company s right of subrogation. p
<br /> urisdiction,and disposition of all appeals therefrom, adverse to the title, or, if shall exceed the amount iand lost by reason a the impair
<br /> imortgage,as insu b 'The Insureds Rights
<br /> applicable,to the lien of the insured
<br /> f Notwithstanding the foregoing, the owner of the indebtedness secure y k
<br /> (c) The Company shat! not 6e liable for loss or damage to any insured for an ;{sures mortgage, provided the priority of the lien of the insured mortgage
<br /> liability voluntarily assumed by the insured in settling any claim or suit without y
<br /> the prior written consent of the Company. affected,
<br /> st from the lien of the
<br /> to bilia any debtor or guarantor, or extend vor otherwise modif the terms of
<br /> Company shall not be liable to an insured lender^CeS�{adeny or its enforceability is not affected the estate se or substitute the personal Iia-
<br /> (d) The p Y portion of
<br /> indebtedness created subsequent to Date of Polity except for advances payment, or release a
<br /> protect the lien of the insured mortgage and secured thereby and reasonable su When the permitted ads of the insured claimant occur and the insured has
<br /> (ii)
<br /> insured mortgage,or release any collateral security for the Inde to Hess.
<br /> amounts expended to prevent deterioration of improvements; construction n construction 9
<br /> lean advances made subsequent to Dote of Policy, except tfinc loan rest or the nocla or enforceability of the hen of on that
<br /> insuredmortgage,
<br /> of tgage, as
<br /> subse uent to Date of policy for the purpose', fin{^Da a in of knowledge of any
<br /> y darn of title ar mtredttodvarsonlye to tfie i+tp to the estate or
<br /> advances made q
<br /> whole or in part the construction of an improvement to the land which a insured, the Company shall be required pay
<br /> insured against by this olicy which shall exceed the amount, if any,lost to the
<br /> Policy were secured by the insured mortgage and which the Insured was °^ Company by reason of the impairment by the insured claimant of the Company's F
<br /> continued to be obligated to advance at and after Dote of Policy. right of subrogation.
<br /> 9• REDUCTION'OF INSURANCE; REDUC71ON OR TERMINATION OF c The Company's Rights Against Non-insured Obligors, s
<br /> LIABILITY.
<br /> The Company's right of subrogation against non-insured obligors shall exist
<br /> (a).All payments under this policy, except payments made far casts, attar and(shall include, without limitation, the rights of the insured to indemnities,
<br /> neys'lees and expenses, shall reduce the amount of insurance pro tanto. How-
<br /> shall
<br /> other policies of insurance or bands, notwithstanding any terms or
<br /> ever, as to an insured lender, any payments made prior to the aof these cgqtltluisdian of conditions contained in those instruments which provide for wbragation tights by 1
<br /> title to the estate or interest as provided a Section
<br /> of insurance afforditednunder g of this Policy- ides b acquisition of
<br /> Stipulations shall not reduce pro tanto thea reason P
<br /> The Company s right of subrogation shall not be ova
<br /> this policy as to any such insured,except b the extent that the payments reduce on insured mortgage by an obligor (except an obligor descri ed ;n Section
<br /> the amount of the indebtedness secured 6y the insured mortgage.
<br /> (bj payment in port by any person of the principal of the indebtedness,or 1 a ii of these Conditions and Stipulations)who acquires the insure mortgage
<br /> any other obligation secured by the insured mortgage, or any voluntary partial ( )( )
<br /> as a result of an indemnity, guarantee, other policy of insurance, or bond an
<br /> satisfaction or release of the insured mortgage, to the extent of Poeta tom The
<br /> the ob;igor will not be an insured under the policy, notwithstanding Section
<br /> 1 a + of these Conditions and Stipulations.
<br /> satisfaction or release, shall reduce the amount of insurance p 13. ARBITRATION. };cable low, either the Company or the insured
<br /> amount of insurance may thereafter be increased by ocr dg ecueedsthere Ol) '
<br /> advances made to protect the lien of the insured hallthmortgageUnless prohibited by app
<br /> may demand arbitration pursuant to the Title Insurance Arbitration Rules of the
<br /> by, with interest'thereon, provided in no event shall the amount of insurance „} American Arbitration Association- Arbitrable matters may include, but are not
<br /> be greater than the Amount of Insurance stated in Schedule A.
<br /> [c) Payment in full byany
<br /> terminate all liability of�4tesCtampa y foisfdcr°^I�"insured
<br /> limited to,any controversy or claim between the Company and the insured ors-
<br /> the insured mortgage shatin out of or relating to this policy, any service of the Company in connection t
<br /> with its issuance or the breach of a policy provision or other obligation. All
<br /> lender except as provided in Section 2(a)of these Conditions and Stipulations: arbitrable matters when the Amount of insurance is 51,000,000 or less shall be
<br /> 10, LIABILITY NONCUMULATIVE,
<br /> it is expressly understood that the amount of insuran�eeunder tlhc policy
<br /> arbitrated at the option of either the Company or the ;000,00. All llarbitrable
<br /> shall be reduced by an amount the Company may pay y policy matters when the Amount of insurance is m excess of d the 1,000 shall be orb;-
<br /> sion
<br /> hall a, which is hereafter executed by an trate dot only
<br /> 10 this agreed
<br /> olicy and u ndebthe Rules oth the fn a#fed ondthe date the demandfor
<br /> ing a.mortgage to which exception is taken+n Schedule B or to which the insured
<br /> has agreed, assumed, or taken subject,
<br /> and the amount so paid shall be deemed a payment arbitration is made or,at the option of the insured,the Rules in effes at Rate o
<br /> insured and which is a charge or lien an the estate or interest described or Policy shall be binding upon the parties.The award may include attorneys'fees
<br /> rd
<br /> referred to in Schedule A,a
<br /> under this policy to the insured owner- aril if the laws of the state;n which the Judgmentuponcated her alward renderedt 0 court to by
<br /> attorneys' lees to a prevailing party. ludg P
<br /> The provisions of this Section shall not apply to an insured sender, unless the Arbitrators)may be entered in any court having jurisdiction thereof.
<br /> such insured acquires title to said estate or interest in satisfaction of the The law of the situs of the land shall apply to an arbitration under the Title
<br /> indebtedness secured by an insured mortgage, Insurance l Arbitration Rules.
<br /> 11• PAYMENT OF LOSS. A copy of the Rules may be obtained from the Company u on request.
<br /> (°) No payment shall be made witfiout producing this policy for endorse lb LIABILITY he RuleITED TO THIS POLICY; POLICY ENTIRE oO�chedChereto by
<br /> merit of the payment unless the policy has been lost or destroyed,in which case
<br /> p (a) This polic together with all endorsements, if any,
<br /> proof of ;ass or destruction shall be furnished to the satisfaction of the yy
<br /> Company. the extent of loss or damage has been definitely
<br /> the Company n tfre entire policy,and contras between the insured and the
<br /> .'(b) When liability and Company. In Interppreting any provision of this policy, this policy shag be
<br /> fixed in accordance with these Conditions and Stipulations,the loss or damage construed as a whole. whether or Hat based on negligence,and
<br /> (b) Any claim of toss ar domoge,
<br /> shall be payable within 34 days thereafter. which g
<br /> 12. SUBROGATION UPON PAYMENT OR
<br /> SETTLEMENT. uses out of the status of the lien of the insured mortgage or of the title
<br /> a The Company's UP Right of Subrogation to the estate or interest covered hereby or by any action asserting such claim,
<br /> shall be restricted to this policy.
<br /> t Whenever the Company shall have settled and paid a dorm under this (c) No amendment of or endorsement to this policy can be made except y
<br /> policy,all right of subrogation shall vest in the Company unaffected by any as esident,a
<br /> °writing President, the Secreta r aantAs�st her
<br /> Secreto etaryned bor'validather hingr after or
<br /> of the insured claimant. Vice Pre ry
<br /> 'The Company shall be subrogated to and be entitled to all rights pad authorized'signatory of the Company.
<br /> remedies which the insured claimant would hove had against anyperson or 15 SEVERABILITY.
<br /> 1n the event any provision o4 the policy is held invalid or unenforceable
<br /> property in respect to the claim had this policy not been issued.If l requested.by
<br /> the Company,th insured
<br /> nsur edsaln or grape ll transfer ec ssary in Order to perfectrights
<br /> this sri ht
<br /> t3 under applicable law,the polity shall be deemed not to include that provision�
<br /> remedies against Y P rry and all o her provisions shall remain in full force and effect.
<br /> of subrogation, The insured claimant shall permit the Company to sue, cam lb NOTICES,WHERE SENT.
<br /> All notices required to be given'the Company and any statement;n writing
<br /> insuepromise or claimant
<br /> in the name of the insured clamant and l use the name of the required to be furnished the Company shall include the number of this oli
<br /> insured claimant in any transaction or litigation involving these rights or and sh°;I o b addressed to the Comppany at p-0. Box 2029, Houston, Texa!
<br /> remedies. by its printed policy serial number whick
<br /> if a payment on account of a claim does not fully cover the floss of the 77252.2029, and identify this policy
<br /> insured claimant, the Company shall be subrogated (i)as to an insured owner, appears on the bottom of the front of the first page of this polity.
<br /> to all rights and remedies in the proportion which the Company's payment bears
<br /> to the whale amount of the loss; and (i;) as to an insured lender, to all rights +
<br /> and ether of the interest,claimant
<br /> costs of r the
<br /> collecinsured claimant shall have re
<br /> covered
<br />
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