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<br />~ TICOR TITLE
<br />~ INSURANCE
<br />
<br />Owner Policy of Title Insurance
<br />
<br />TICOR TITLE INSURANCE COMPANY OF CALIFORNIA, a California corporation, hereinafter called th~ Company, for value
<br />does hereby guarantee to the Insured (as herein defined) that as of the date hereof, the Insured has good and indefeasible title to
<br />the estate or interest in the land described or referred to in this policy,
<br />
<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
<br />Company be liable for more than the amount shown in Schedule A hereof, and shall, except as hereinafter stated, at its own cost
<br />defend the Insured in every action or proceeding on any claim against, or right to the estate or interest in the land, or any part
<br />thereof, adverse to the title to the estate or interest in the land as hereby guaranteed, but. the Company shall not be required to
<br />defend against any claims based upon matters in any manner excepted under this policy by the exceptions in Schedule 8 hereof
<br />or excludeq by Paragraph 2, "Exclusions from Coverage of this Policy", of the Conditions and Stipulations hereof. The party or
<br />parties entitled to such defense shall within a reasonable time after the commencement of such action or proceeding, and in
<br />ample time for defense therein, give the Company written notice of the pendency of the action or proceeding, and authority to
<br />defend. The Company shall not be liable until such adverse interest, claim, or right shall have been held valid by a court of last
<br />resort to which either litigant may apply, and if such adverse interest, claim, or right so established shall be for less than the whole
<br />of the estate or interest in the land, then the liability of the Company shall be only such part of the whole liability limited ~bove 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
<br />interest in the land, such ratio to be based on respective values determinable as of fhe date of this policy. In the absence of notice
<br />as aforesaid, tt)e Company is relieved from all liability with respect to any such interest, claim or right; provided, however, that
<br />failure to notify shall not prejudice the rights of the Insured if such Insured shall not be a party to such action or proceeding, nor be
<br />served with process therein, nor have any knowledge thereof, nor in any case, unless the Company shall be actually prejudiced by
<br />such failure.
<br />
<br />Upon sale of the estate or interest in the land, this policy automatically thereupon shall become a warrantor's policy and the
<br />Insured shall for a period of twenty-five years from the date hereof remain fully protected according to the terms hereof, by reason
<br />of the payment of any loss, he, they or it may sustain on account of any warranty of title contained in the transfer or conveyance
<br />executed by the Insured conveying the estate or interest in the land. The Company shall be liable under said warranty only by
<br />reason of defects, liens or encumbrances existing prior to or at the date hereof and not excluded either by the exceptions or by
<br />the Conditions and Stipulations hereof, such liability not to exceed the amount of this policy,
<br />
<br />IN WITNESS HEREOF, TICOR TITLE INSURANCE COMPANY OF CALIFORNIA has caused this policy to be executed by its
<br />President under the seal of the Company, but this pOlicy is to be valid only when it bears an authorized countersignature, as of the
<br />date set forth in Schedule A.
<br />
<br />TICOR TITLE INSURANCE COMPANY OF CALIFORNIA
<br />
<br />By
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<br />President
<br />
<br />Attest
<br />
<br />Secretary
<br />
<br />Countersigned at ~:tf:;- , Texas
<br />
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<br />By ~Au~untersign./ure
<br />
<br />TO 1459 TX (6-85) T-1 Owner Policy 01 TiUe Insurance Form'Prescribed by the Texas Board 01 Insurance - 9-1-75
<br />
<br />. CAT. NO. NN00747
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