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<br />POLICY 1l'
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<br />261722 JH/jl
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<br />76-02-343
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<br />OWNER POLICY OF TITLE INSURANCE
<br />Form prescribed by State Board of Insurance of Texas - Revised, 1970
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<br />A TITLE INSURANCE COMPANY OF MINNESOTA
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<br />~ 8 Stoc:k Company, of Minneapolis, Minnesota
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<br />TITLE INSURANCE COMPANY OF MINNESOTA, a Minnesota corporation, hereinafter called the Company,
<br />for value does hereby guarantee to the herein named Insured, the heirs, dcvisees, executors and administrators of the
<br />Insured, or if a corporation, its successors by dissolution, merger or consolidation, that as of the date hercof, the
<br />Insured has guod and indefeasible title to thl: estate or interest in the land described or referred to in this policy.
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<br />The Company shall not be liable in a greater amount 1han the actual monetary loss of the Insured, and in no
<br />event shall the Company be liable for more than the amount shown in Sdll:dulc A hereof, and shall, except as herein-
<br />after stated, at its own cost defend the Insurl:d in I:VCry action or procceding on any claim against, or right to the
<br />cstate or interest in the land, or any part thereof, adverse to the titlc tu the estate or intcrest in thc land as hereby
<br />guaranteed, but the Compfl'Y shall not be required to defcnd against any claims hased upon matters in any manner
<br />cxcepted under this policy by the exceptions in Schcdull: B hereof or I:xcluded by Paragraph 2, "Exclusions from
<br />Coverage of this policy", of the Conditions and Stipulations hcrl:of. Till: party.or partics entitlcd to such defensc
<br />shall within a reasonable time aftcr the commencement of such action or (,rocecding, and in ample time for defcnsl:
<br />therein, give the Company writtcn notice of the pl:ndency of the actiun or proceeding, and authority to defend.
<br />The Company shall not be liable until such advf:rse intercst, claim, or right shall have bcen held valid by a cuurt of
<br />last resort to which either litigant may apply, and if such adverse intl:n:st, claim, or right so established shall bl: for
<br />less than the whole of the cstate or intcrest in tlu: land, tlll:n the liahility of the Company shall be only such part of
<br />the whole liability limited above as shall bcar the samc ratio tu the whole liability that thl: advcrse interest, claim, ~r
<br />right established may bear to the whole estate or interest in the land, such ratiu to be ba8l:d on resllf:ctive values de-
<br />terminable as of the date of this policy. In the absence of notice as aforf~said, the Company is rdieved from all
<br />liability with respect to any s\Jl:h interest, claim ur right; provided, huwf:ver, that failun: to notify shall not I)rejudiee
<br />the rights of the Insured if such Insured shall not be a party tu such. action ur proceeding, nor be Sf:rved with process
<br />therein, nor have any knowledge thereof, nor in any casc, unless thc Company shall be actually prejudiced by sucll
<br />failure.
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<br />Upon sale of the estate or interest in thl: land, this policy automatically thereupon shall bl:cllme a warrantor's
<br />policy and the Insured, the heirs, dl:visees, eXI:eutors and administrators of the Insured, or if a corporation, its suc-
<br />cessors by dissolution, merger or consolidation, shall for a period IIf twenty-five years frum date hereof remain fully
<br />protected according to the terms hereof, by reason of the payment of any loss he, they or it may sustain on account
<br />of any warranty of title contained in the transfer ur conveyance eXI:cuted hy the Insured conveying the estate or
<br />interest in the land. The Company shall be liable under said warranty llnly by reasun of defect'l, liens or encum-
<br />brances existing prior to or at the date hereof and not excluded citlu:r IIy the excI:ptions or by the Conditions and
<br />Stipulations hereof, such liability not tu exceed the amount of this pulicy.
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<br />IN WITNESS IIEHEOF, thl: TITLE INSUHANCE COMPANY OF MINNESOTA has causell this policy to be
<br />executed 1Iy its Prcsilll:nt undf:r till: seal ,.I till: CO/llpllny, hut this policy is tll Le valid only wlu:n it bears 111I
<br />j authorizl:lI countersignature on Sdll:duh: A allll B h,:rein, as uf the dall: set forth in said Schcllule.
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<br />T nrLIE INSU~ANCIE COMPANY OfF ,MUNNlESOTA
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<br />This policy valid only if Schedule A and B is attached and countersigned.
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<br />Form T-1 Owner Policy, Revised 1970
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