1973 Decker McKim General Warranty Deed

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T-l Owner Policy - Fonn Prescribed by Stste Bosrd of insursnce of TellSS - Revised 1970 r:.<~. q..;.r.; .'.:;-;<:".~ r.-'.<~'~:.?~~ff.m~~i k'~ N~ 352748 OWNER POLICY OF TITLE INSURANCE · II r ~ ~~ ~ i~ ~~.,; 'feXmg 'f:otlle GUID"allD.ty COmpanY9 liIDlC. ~I~ ~: . HOUSTON, TEX~ ~~ ~ a corporation of Texas, hereinafter called the Company, for value does hereby guarantee to the herein named ~J;;.. i~. Insured, the heirs, devisees, executors and administrators of the Insured, or if a corporation, its successors ~_~~ Vi,' , by dissolution, merger or consolidation, that as Df the date hereof, the Insured has good and indefeasible ~~ ~~. title t~ the estate or interest in the land desc'ribed or referred to in this policy. 0 ~t:~1 ..., The Company shall not be liable in a greater amount than the adual monetary loss of the Insured, and ~".{ .':.', . in no event shall the Company be liable for more than the amoUnt shown in Schedule A hereof, and shall, ~~J.~ r" I except as hereinafter stated, at its own cost defend the Insured in every action or proceeding on any claim E"' ~.~; ,.) against, or right to the estate or interest in the la.nd, or any part thereof, adverse to the title to the estate or 1>.;1 'I' I interest in the land as hereby guaranteed~ but the Company shall not be required to defend against any claims ~,... ~~~~~.~ ' ".i: based upon matlers in any manner excepted under this policy by the exceptions in Schedule B hereof or .....~} . ,... " excluded by Paragraph 2, "Exclusions from Coverage of this Policy", of the Conditions and Stipulations :..: 'il hereof. The party or parties entitled to such'defense shall within a reasonable time after the commencement q,:~~ ' .,. of such action or proceeding, and in ample time for defense therein, give the Company writlen notice of the ~~~_ ;": ,.'\' pendency of the action or proceeding, and authority to defend. The Company shall not be liable until such E;\~ '1 t. '. A~" · ,c: adverse interest, claim, or right shall have been held valid by a court of last resort to which either litigant' _~ t:.. :~~ may apply, and if such adverse interest, claim, or right so established shall be for less than the whole of the ~:\~ ~: ,~~ estate or interest in the land, then the liability of the Company shal.l be only such part of the whDle liability ~~)J (.:' ',f")' limited above as shall bear the same ratio to the whole liability that the adverse interest, claim, or right ~ :l ,. established may bear to the whole estate or interest in the land, such ratio to be based on respective values ~[.~j .' .~: determinable as of the date of this policy. In the absence of notice as aforesaid, the Company is relieved ~..J'" :. \ from all liability with respect to any such interest, claim or right; provided, however, that failure to notify 1.:"(:~~) {,)....,. shall not prejudice the rights of the Insured if such Insured shall not be a party to such action or proceeding, ~~., .. nor be serv.ed with process therein, nor have any knowledge thereof, nor in any case, unless the Company t;': "\ 1!~ shall be actually'prejudiced by such failure. ~.\.~,~ , - Upon sale of the estate or interest in the land, this policy automatically thereupon shall become a ~~~~ 1- '. warrantor's policy and the Insured, the heirs, devisees, executors and administrators of the Insured, or if a ~: ~ corporation, its successors by dissolution, merger or consolidation, shall for a period of twenty-five years ~;,~} from date hereof remain fully protected according to the terms hereof, by reason of the payment of any loss ~ 1 I he, they or it may sustain on account of any warranty of title contllined in the transfer or conveyance exe- ,~ cuted by the Insured conveying the estate or interest in the land. The Company shall be liable under said ~ warranty' only by reason of defects, liens or encumbrances existing prior to or at the date hereof and not ~;t~ excluded either by the exceptions or by the Conditions and Stipulations hereof, such liability not to exceed ~~~ the amount Df this policy. ~ ~eJl f~~ ~~~ 5~ ~~ ~eJ1 E1J fI .k ~ I,,, ~) r~ . (.,. l\J ,\" l~~ . ') ~',. . I'" . \ . _\) : t". . ... . ,. ",)1 ~.::~ ,", " A. :~.) :...-...., 'j , , :'-':,- ~ ..., I . "', \ ...t.... , .- I . . I' . .' , ',- e IN WITNESS HEREOF, the TEXAS TITLE GUARANTY COMPANY, INC. has caused this policy to be executed by its President under the seal 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. ~_~~'~~~N;Ex~~;;;.mc. em 11}1i~' INC. FORM aee (l17at