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<br />Conditions and Stipulations
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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, in Schedule A, and improvements affixed thereto which by law
<br />constitute real property.
<br />(b) "public records": Those records which impart constructive notice of matters "relating to the land.
<br />(c) "knowledge": Actual knowledge, not constructive knowledge, or notice which may be imputed to the Insured by reason of
<br />any public records,
<br />(d) "date"; The effective date, including hour if specified,
<br />2, Exclusions from the Coverage of this Policy
<br />This policy does not insure against loss or damage by reason of the following:
<br />(a) The refusal of any person to purchase, lease or lend money on the land.
<br />(b) Governmental rights of police power or eminent domain unless notice of the exercise of stich rights appears in the public rec-
<br />ords at the date hereof; and the consequences of any law, ordinance or governmental regulation including, but not limited to,
<br />building and zoning ordinances.
<br />(c) Any titles or rights asserted by anyone including, but not limited to, persons, corporations, governments or other entities
<br />to tidelands, or lands comprising the shores or beds of navigable or perennial rivers and streams, lakes, bays, gulfs or oceans,
<br />or to any land extending from the line of mean low tide to the line of vegetation, or to lands beyond the line of the harbor or
<br />bulkhead lines as established or changed by any government, or to filled-in lands, or artificial islands, or to riparian rights, or the
<br />rights or interests of the State of Texas or the public generally in the area extending from the line of mean low tide to the line of
<br />vegetation, or their right of access thereto, or right of easement along and across the same.
<br />(d) Defects, liens, encumbrances, adverse claims against the title as insured or other matters (1) created, suffered, assumed or
<br />agreed to by the Insured at the date of this policy, or (2) known to the Insured at the date of this policy unless disclosure thereof
<br />in writing by the Il'!sured shall have b~en made to the Company prior to the date of this policy; or loss or damage which would
<br />not have been sustained if the Insured were a purchaser for value without knowledge; or the homestead or community property
<br />or survivorship rights, if any, of any spouse of any Insured.
<br />3. Defense of Actions
<br />(a) In all cases where this policy provides for the defense of any action or proceeding, the Insured shall secure to the Company
<br />the right to so provide defense in such action or proceeding, and all appeals therein, and permit it to use, at its option, the name
<br />of the Insured for such purpose. Whenever requested by the Company, the Insured shall give the Company all reasonable aid in
<br />any such action or proceeding, in effecting settlement, securing evidence, obtaining witnesses, or defending such action or
<br />proceeding.
<br />(b) The Company shall have the right to select counsel of its own choice whenever it is required to defend any action or pro-
<br />ceeding, and such counsel shall have full control of said defense.
<br />(c) Any action taken by the Company for the defense of the Insured or to establish the title as insured, or both, shall not be con-
<br />strued as an admission of liability, and the Company shall not thereby be held to concede liability or waive any provision of this
<br />policy,
<br />4. Payment of Loss
<br />(a) No claim shall arise or be maintainable under this policy for liability voluntarily assumed by the Insured in settling any claim
<br />or suit without written consent of the Company.
<br />(b) All payments under this policy, except payments made for costs, attorney fees and expenses, shall reduce the amount of the
<br />insurance pro tanto; and the amount of this policy shall be reduced by any amount the Company may pay under any policy
<br />insuring the validity or priority of any lien excepted to herein or any instrument hereafter executed by the Insured which is a
<br />charge or lien on the land, and the amount so paid shall be dee.med a payment to the Insured under this policy.
<br />(c) The Company shall have the option to payor settle or compromise for or in the name of the Insured any claim insured against
<br />by this policy, and such payment or tender of payment, together with all costs, attorney fees and expenses which the Company
<br />is obligated hereunder to pay, shall terminate all liability of the Company hereunder as to such cl~im. Further, the payment or
<br />tender of payment of the full amount of this policy by the Company shall terminate all liability of the Company under this policy,
<br />(d) Whenever the Company shall have settled a claim under this policy, all right of subrogation shall vest in the
<br />Company unaffected by any act of the Insured, and it shall be subrogated to and be entitled to all rights and remedies of the
<br />Insured against any person or property in respect to such claim. :rhe Insured, if requested by the Company, shall transfer to the
<br />Company all rights and remedies against any person or property necessary in order to perfect such right of subrogation, and
<br />shall permit the Company to use the name of the Insured in any transaction or litigation involving such rights_or remedies,
<br />5, Policy Entire Contract
<br />Any action, actions or rights of action that the Insured may have, or may bring, against the Company, arising out of the status of the
<br />title insured hereunder, must be based on the provisions of this policy, and all notices required to be given the Company, and any state-
<br />ment in writing required to be furnished the Company, shall be addressed to USLlFE TITLE INSURANCE Company of Dallas, 1301
<br />Main Street, Dallas, Dallas County, Texas 75202,
<br />6. This policy is not transferable,
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