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<br />5. POLICY ENTIRE CONTRACT
<br />Any action. actions or rights of action that the Insured may
<br />have. or may bring. against the Company, arising out of the
<br />status of the title insured hereunder, must be based on the
<br />provisions of this policy. and all notices required to be given
<br />the Company, and any statement in writing required to be
<br />furnished the Company, shall be addressed to it at its Home
<br />Office, Claims Department, 433 South Spring Street. P,O,
<br />Box 54730. Los Angeles, California 90054,
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<br />6. THIS POLICY IS NOT TRANSFERABLE
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<br />4. PAYMENT OF LOSS
<br />(a) No claim shall arise or be maintainable under this
<br />pol icy for Iiabi I ity voluntari Iy assumed by the Insured in
<br />settling any claim or suit without written consent of the
<br />Company,
<br />(b) All payments under this policy, except payments made
<br />for costs, attorney fees and expenses, shall reduce the amount
<br />of the insurance pro tanto; and the amount of this policy shal.l
<br />be reduced by any amount the Company may pay under any
<br />pol icy insuring the val idity or priority of any I ien excepted
<br />to herein or any instrument hereafter executed by the Insured
<br />which is a charge or lien on the land. and the amount so paid
<br />shall be deemed a payment to the Insured under this policy.
<br />(c) The Company shall have the option to payor settle or
<br />compromise for or in the name of the Insured any claim insured
<br />against by this policy, and such payment or tender of pay-
<br />ment, together with all costs, attorney fees and expenses
<br />which the Company is obligated hereunder to pay, shall ter-
<br />minate all liability of the Company hereunder as to such claim,
<br />Further. the payment or tender of payment of the full amount of
<br />this policy by the Company shall terminate all liability of the
<br />Company under this policy.
<br />(d) Whenever the Company shall have settled a claim under
<br />this policy. all right of subrogation shall vest in the Company
<br />unaffected by any act of the Insured. and it shall be subro-
<br />gated to and be entitled to all rights and remedies of the
<br />Insured against any person or property ,in respect to such
<br />claim, The Insured, if requested by the Company, shall trans-
<br />fer to the Company all rights and remedies against any person
<br />or property necessary in order to perfect such right of subro-
<br />gation. and shall permit the Company to u.se the name of the
<br />Insured in any transaction or litigation involving such rights
<br />or remedies.
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<br />(b) The Company shall have the right to select counsel of
<br />its own choice whenever it is required to defend any action
<br />or proceeding, and such counsel shall have full control of
<br />said defense.
<br />(c) Any action taken by the Company for the defense of the
<br />Insured or to establ ish the title as insured, or both, shall not
<br />be construed as an admission of Iiabi Iity, and the Company
<br />shall not thereby be held to concede liability or waive any
<br />provision of this policy,
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<br />3. DEFENSE OF ACTIONS
<br />(a) In all cases where thi~ policy provides (or the defense
<br />of any action or p~o~eeding. 'the Insured shall secure to the
<br />Company the right ~o so provide defense in such action or
<br />proceeding, and all appeals therein, and permit'it to use, at
<br />its option, the name of the Insured for such purpose, When-
<br />ever requested by the Company, the Insured shall give the
<br />Company all reasonabLe aid in any such action or proceeding,
<br />in effecting settlement, securing evidence. obtaining wit-
<br />nesses, or defending such action or proceeding,
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<br />2, EXCLUSIONS FROM THE COVERAGE OF THIS POLICY
<br />This policy does not insure against loss or damage by
<br />reason of the following:
<br />(a) The refusal of any person to purchase, lease or lend
<br />money on the land,
<br />(b) Governmental rights of police power or eminent domain
<br />unless notice of the exercise of such rights appears in the
<br />publ ic records at the date hereof; and the consequences of
<br />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
<br />not I imited to, persons, corporations. governments or other
<br />entities to tidelands. or lands comprising the shores or beds
<br />of navigable or perennial rivers and streams, lakes. bays.
<br />gulfs or oceans.. or to any land extending from the line of
<br />mean low tide to the line of vegetation, or to lands beyond
<br />the line of the harbor or bulkhead lines as established or
<br />changed by any government. or to fi lied-in lands. or artificia I
<br />islands, or to riparian, rights. or the rights or interests of the
<br />State of Texas or the public generally in the area extending
<br />from the line of mean low tide to the I ine of vegetation or
<br />their right of access thereto, or right of easement along and
<br />across the same.
<br />(d) Defects. liens, encumbrances, adverse claims against
<br />the title as insured or other matters (1) created. suffered.
<br />assumed or agreed to by the Insured at the date of this policy,
<br />or (2) known to the Insured at the 'date of this policy unless
<br />disclosure thereof in writing by the Insured shall have been
<br />made to the Company prior to the date of this policy; or loss
<br />or damage which would not have been sustained if the Insured
<br />were a purchaser for value without knowledge; or the home-
<br />stead or community property or survivorship rights, if any, of
<br />any spouse of any Insured.
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<br />1. DEFINITIONS
<br />The following terms when used in this policy mean:
<br />(a) "land": The land described. specifically or by reference,
<br />in Schedule A. and improvements affixed thereto which by law
<br />constitute real property.
<br />(b) "public records": Those records which impart constuc-
<br />tive notice of matters relating to the land.
<br />(c) "knowledge": Actual knowledge. not constructive
<br />knowledge, or notice which may be imputed to the Insured by
<br />reason of any publ ic records,
<br />(d) "date": The effective date, including hour if specified,
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<br />Conditions and Stipulations
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