|
<br />e
<br />
<br />.
<br />
<br />",
<br />.,
<br />
<br />.,.
<br />
<br />.
<br />
<br />6. This policy is not transferable.
<br />
<br />5. Policy Entire Contract
<br />Any action, actions or rights of action that the Insured may have, or may bring, against the Company, arising out 'of.
<br />the status of the title insured hereunder, must be based on the provisions of this policy, and all notices required to be given
<br />the Company, and any statement in writing required to be furnished the Company, shall be addressed .to.it at. P. O. Box
<br />2029, Houston, Texas 77001, .
<br />
<br />4. Payment of Loss
<br />(a) No claim shall arise or .be maintainable under this policy for, liability voluntarily.assumed by the Insured ":in s~ttling
<br />any claim or suit without written consent of the Company. , .' "" , , .. ' _.,' , . '
<br />(b) All payments under this policy, except payments made for costs,. attorney fees and .expenses, shall reduce the
<br />amount of the insurance pro tanto; and the amount of this policy shall be re'duted by ariy' amount the Company.may pay
<br />under any policy insuring the validity or priority of any lien excepted to herein, or any :instrument hereafter .executed by
<br />the Insured which is a charge or lien on the land, and the amount so pqid shall be deemed a payment to.the Insured under
<br />this policy. , .. ,.'
<br />(c) The Company shall have the option to payor settle or compromise for or in th~ nome of the Insured any claim in-
<br />sured against by this policy, and such payment or tender of payment, .together with all costs; ~ttorney fees ~nd.'expenses
<br />which the Company is obligated hereunder to pay, shall terminate, all liability of the .Company hereunder as, to such
<br />claim. Further, the paymen,t or tender of payment of the full amount, of this policy by the Company shall terminate all'
<br />liability of the Company under this policy.. " . . ' , _ . . .
<br />(d) Whenever the Company shall have settled a c1qim under this 'policy, all right of subrogation shall vesHn the Com-
<br />pany unaffected by any act of the Insured, and it shall be subrogated to and be entitled to all rights and remedies of the
<br />Insured against any person or property in respect to such claim. The Insured, if requested by the Company, shall transfer
<br />to the Company all rights and remedies against any person or property necessary in order to perfect such right of subro-
<br />gation, and shall permit the C;:,ompany to use the name of the Insured in any transaction or litigation involving, such rights
<br />or remedies. . ' ' , '
<br />
<br />3. Defense of Actions
<br />(a) In all cases where thi~ policy provides for the defense of any action or proceeding, the Insured shall secure to the
<br />Company the right to so provide defense in such action or proceeding, and all appeals therein, and permit it to use, at its
<br />option, the name of the Insured for such purpose. Whenever requested by the Company, the Insured ,shall give the Com-
<br />pany all reasonable aid in any such action or proceeding, in effecting settlement, securing evidence, obtaining witnesses,
<br />or defendi!lg such action or proceeding. ", '
<br />(b) The Company shall have the right to select counsel of . its own choice wheneverWis required to defend any action
<br />or proceeding, and such counsel.shall have full control of said defense. .,. .
<br />(c) Any action taken by the Company for the defense of the Insured 'or to establish the title as insured"or both, shall not
<br />be construed as an admission of liability, and the Company shall not th-ereby be held to concede liability or waive .any pro-
<br />vision of this policy.. . - , '
<br />
<br />2. Exclusions from the Coverage of this Policy
<br />This policy does not ,insure against loss or damage by reason of the, following:
<br />(a) The refusal of any person to purchase, lease or lend money on the land. . ,
<br />(b) Governmental rights of police power or eminent domain unless notice of the, exercise of such rights appears in the
<br />public records at the date hereof; and the consequences 'of any law, ordinance or governmental regulation including, but
<br />not limited to, building and zoning ordinances. ..
<br />(c) Any titles or rights asserted by anyone including, but not limited to,persons, corporations, governments or other en-
<br />tities to tidelands, or lands comprising the shores or beds of navigable or perennial rivers and streams, lakes, bays, gulfs
<br />or oceans, or to any land extending from the line of mean low tide to the line of vegetation, or to lands beyond the line
<br />of the harbor or bulkhead lines as established or changed by any government, or to filled-in'lands, or artificial islands, or
<br />to riparian rights, or the rights or interests of the State.of Texas or the public generally in the area extending from the line
<br />of mean low tide to the line of vegetation or their right of access thereto, or right of easement along and across'the same.
<br />(d) Defects, liens, encumbrances, adverse claims against the title as insured or other matters (,1) created,. suffered, as-
<br />sumed or agreed to by the Insured at the date of this policy, or (2) known to the Insured .at the date of this policy unless
<br />, disclo$ure thereof in writing by the Insured shall have been made to. the Company prior~ to ofhe, date of ,this policy; or loss
<br />or damage which would. not haVe been sustained .if the"lnsured were...(] purchaser- for valuELwithout....kn~wleelge;=or-~the"" ., ,,;=-.-
<br />homestead or community property or survivorship rights, if, any, ~f any spouse of:~riy Insured.
<br />
<br />1. Definitions ';
<br />The following terms when used in this policy mean: .,
<br />(a) "land": The land described, specifically or by reference, in Schedule A, and improvements affixed thereto which by
<br />law constitute real property. .'
<br />(b) "public records": Those records which impart constructive notice of matters relating to the land.
<br />(c) "knowledge": Actual knowledge, not constructive knowledge, or notice which may'be imputed to the Insured by
<br />reason of any public records. .
<br />(d) "date": The effective date, including hour if specified.
<br />
<br />.-
<br />..--~~..
<br />
<br />GENERAL. C.ONOIJ:IONS ANO.'STIP!JLA TIONS
<br />
<br />r
<br />
|