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<br />~ TICOR
<br />TITlE INSURANCE
<br />
<br />Owner Policy of Title Insurance
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<br />TICOR TITLE INSURANCE COMPANY, A California corporation, hereinafter called the Company, for value does hereby guarantee to
<br />the Insured (as herein defined) that as of the date hereof, the Insured has good and indefeasible title to the estate or interest in the land
<br />described or referred to in this policy,
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<br />The Company shall not be liable in a greater amount than the actual monetary loss of the Insured, and in no event shall the Company be liable
<br />for more than the amount shown in Schedule A hereof, and shall, except as hereinafter stated, at its own cost defend the Insured in every
<br />action or proceeding on any claim against, or right to the estate or interest in the land, or any part thereof, adverse to the title to the estate or
<br />interest in the land as hereby guaranteed, but the Company shall not be required to defend against any claims based upon matters in any
<br />manner excepted under this policy by the exceptions in Schedule B hereof or excluded by Paragraph 2, "Exclusions from Coverage of this
<br />Policy", of the Conditions 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 the pendency of the
<br />action or proceeding, and authority to defend, The Company shall not be liable until such adverse interest, claim, or right shall have been held
<br />vaHd by a court of last resort to which either litigant may apply, and if such adverse interest, claim, or right so established shall befor less than
<br />the whole of the estate or interest in the land, then the liability of the Company shall be only such part of the whole liability limited above as
<br />shall bear the same ratio to the whole liability that the adverse interest, claim, or right established may bear to the whole estate or interest in
<br />the land, such ratio to be based on respective values determinable as of the date of this policy. In the absence of notice as aforesaid, the
<br />Company is relieved from all liability with respect to any such interest, claim or right; provided, however, that failure to notify shall not
<br />prejudice the rights of the Insured if such Insured shall not be a party to such action or proceeding, nor be served with process therein, nor
<br />have any knowledge thereof, nor in any case, unless the Company shall be actually prejudiced by such failure,
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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 the Insured shall for a
<br />period of twenty-five years from the date hereof remain fully protected according to the terms hereof, by reason of the payment of any loss,
<br />he, they or it may sustain on account of any warranty of title contained in the transfer or conveyance executed by the Insured conveying the
<br />estate or interest in the land, The Company shall be liable under said warranty only by reason of defects, liens or encumbrances existing prior
<br />to or at the date hereof and not excluded either by the exceptions or by the Conditions and Stipulations hereof, such liability not to exceed the
<br />amount of this policy.
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<br />IN WITNESS HEREOF, TICOR TITLE INSURANCE COMPANY has caused this policy to be executed by its President under the seal
<br />of the Company, but this policy is to be valid only when it bears an authorized countersignature, as of the date set forth in Schedule A,
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<br />AMERICAN TITLE COMPANY
<br />2900 NORTH LOOP WEST
<br />HOUSTON, TEXAS 77092
<br />(713) 682-6300
<br />
<br />TICOR TITLE INSURANCE COMPANY
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<br />Countecsigned, at _illU&IT . . Texas
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<br />By ~n~ .U~
<br />
<br />Authorized Countersignature
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<br />By
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<br />
<br />
<br />President
<br />
<br />Secretary
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<br />TO 1459 TX (1-83) T-l Owner Policy of nle Insurance Form Prescribed by the Texas Board of Insu~ance - 9-1-75
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<br />CAT. NO. NNOO747
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