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<br />RJC:ME4
<br />'t"'-- -~GF' NO. 21126~
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<br />., PIONEER NATIONAL
<br />II. TITLE INSURANCE
<br />A TlCOR COMPANY
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<br />Owners Policy of Title Insurance
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<br />PIONEER NATIONAL TITLE INSURANCE COMPANY, a California corporation, hereinafter called the Company, for value
<br />does hereby guarantee to the herein named Insured, the heirs, devisees, executors and administrators of the Insured, or
<br />if a corporation, its 'successors by dissolution, merger or consolidation, that as of the date hereof, the Insured has good
<br />and indefeasible title to the estate or interest in the land described or referred to in this policy,
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<br />The Company shall not be I iable in a gr~ater amount than the actual monetary loss of the Insured, and in no event shall
<br />the Company be liable for more than the amount shown in Schedule A hereof, and shall, except as hereinafter, stated, at
<br />its own cost defend the Insured in every action or proceeding on any claim against, or right to the estate or interest in
<br />the land, or any part thereof, adverse to the title to the estate or interest in the lantl as hereby guaranteed, but the Com-
<br />pany shall" Iiot be required to defend against any claims based upon matters in any manner excepted under this policy by
<br />the exceptions in Schedule B hereof or excluded, by Paragraph 2, "Exclusions from Coverage of this Policy", of the Con-
<br />ditions and Stipulations hereof. The party or parties entitled to such defense shall within a reasonable time after the
<br />commencement of such action or proceeding, and in ample time for defense therein, give the Company written notice of
<br />the pendency of the action or proceeding, and authority to defend. The Company shall not be,liable until such adverse
<br />interest,claim, or right shall have been held valid by a court of last resort to which either litigant may appfy, and if
<br />such adverse interest, claim, or right so established shall be for less than the whole of the estate or interest in the land,
<br />then the liability of the Company shall be only such part of the whole liability limited above as shall bear the same ratio
<br />to the whole liability that the adverse interest, claim, or right established may bear to the whole estate or interest in the
<br />land, such ratio to be based on respective values determinable as of the date of this policy. In the absence of notice as
<br />aforesaid, the Company is relieved from all liability with respect to any such interest, claim or right; provided, however,
<br />that failure to notify shall not prejudice the rights of the Insured if such Insured shall not be a party to such action or
<br />proceeding, nor be served with process therein, nor have any knowledge there9f, nor in any case, unless the Company
<br />shall be actually prejudiced bY such fai lure.
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<br />Upon 'sale of the estate or interest in the land, this policy automatically thereupon shall become a warrantor's policy and
<br />the Insured, the heirs, devisees, executors and administrators of the Insured, or if a corporation, its successors by dis-
<br />solution, merger or consolidation, shall for a period of twenty-five years from date hereof remain fully protected according
<br />to the terms hereof, by reason of the payment of any loss he, they or it may sustain on account"of any warranty of title
<br />contained in the transfer or conveyance executed by the Insured conveying the estate or interest in the land. The Com-
<br />pany shall be liable under said warranty only be reason of defects, liens or encumbrances existing prior to or'at the date
<br />hereof and not excluded either by the exceptions or by the Conditions and Stipulations hereof, such liabi lity not to exceed
<br />the amount of this policy.
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<br />This policy shall not be val.id or binding until countersigned below by a validating officer of the Company.
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<br />AMERICAN TITLE COMPANY
<br />301 Esperson Bldg" Houston, Texas 77002
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<br />Pioneer Natio,t!al~l(tl:e\'ln.,~rance Company
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<br />Attest ~'::.' Y1 ..~, ~. .' _ A.._
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<br />'\\\\'I4'\.:"':'i-"'~~~ ~ Secretary
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<br />Countersigned:
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<br />By
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<br />~~ Ck\1.L.e. \\
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<br />Validatin9 Signatory
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<br />TO 1459 PNTI TX 13-75) T-1 Owners Title Insurance Policy-Form Prescribed by the Texas Board of Insur'ance-Rev. 10-70.
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