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<br />T-I Owner Policy -
<br />Fonn Prescribed by State Board of Insurance of Texas - Revised 1970
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<br />OWNER POLICY OF TITl.E INSURANCE
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<br />american title insurance campsrl)Y
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<br />a subsidiary of The Continental Corporation
<br />
<br />Miami, Florida
<br />A STOCK COMPANY
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<br />a corporation of Florida, hereinafter called the Company, for value does hereby guarantee to the herein named
<br />Insured, the heirs, devisees, executors and administrators of the Insured, or if a corporation, its successors
<br />by dissolution, merger or consolidation, that as of the date hereof, the Insured has good and indefeasible
<br />title to the 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 than the actual monetary loss of the Insured, and
<br />in no event shall the Company be liable for more than the amount shown in Schedule A hereof, and shall,
<br />except as hereinafter stated, at its own cost defend the Insured in every action or proceeding on any claim
<br />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
<br />based upon matters in any manner excepted under this policy by the exceptions in Schedule B hereof or
<br />excluded by Paragraph 2, "Exclusions from Coverage of this Policy", of the Conditions and Stipulations
<br />hereof. The party or parties entitled to such defense shall within a reasonable time after the commencement
<br />of such action or proceeding, and in ample time for defense therein, give the Company written notice of the
<br />pendency of the action or proceeding, and authority to defend. The Company shall not be liable until such
<br />adverse interest, claim, or right shall have been held valid by a court of last resort to which either litigant
<br />may apply, and if such adverse interest, claim, or right so established shall be for less than the whole of the
<br />estate or interest in the land, then the liability of the Company shall be only such part of the whole liability
<br />limited above as shall bear the same ratio to the whole liability that the adverse interest, claim, or right
<br />established may bear to the whole estate or interest in the land, such ratio to be based on respective values
<br />determinable as of the date of this policy. In the absence of notice as aforesaid, the Company is relieved
<br />from all liability with respect to any such interest, claim or right; provided, however, that failure to notify
<br />shall not prejudice the rights of the Insured if such Insured shall not be a party to such action or'proceeding,
<br />nor be served with process therein, nor have any knowledge thereof, nor in any case, unless the Company
<br />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
<br />warrantor's policy and the Insured, the heirs, devisees, executors and administrators of the Insured, or if a
<br />corporation, its successors by dissolution, merger or consolidation, shall for a period of twenty-five years
<br />from 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 exe-
<br />cuted by the Insured conveying the estate or interest in the land. The Company shall be liable under said
<br />warranty only by reason of defects, liens or encumbrances existing prior to or at the date hereof and not
<br />excluded either by the exceptions or by the Conditions and Stipulations hereof, such liability not to exceed
<br />the amount of this policy.
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<br />IN WITNESS HEREOF, the AMERICAN TITLE INSURANCE COMPANY has caused this policy to be
<br />executed by its President under the seal of the Company, but this policy is to be valid only when it bears
<br />an authorized countersignature, as of the date set forth in Schedule A.
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<br />Attest:
<br />n." 'It _ _ "', _ _
<br />J...l)U~ \:
<br />
<br />Secretary
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<br />FORM T-292 (8/77)
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