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<br />~ TICOR TITLE
<br />~ INSURANce
<br />
<br />Owner Policy of Title Insurance
<br />
<br />TICOR TITLE INSURANCE COf!lPANY OF CALIFORNIA, a California corporation, hereinafter called the 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 B hereof
<br />or excluded 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 havtl 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 above 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 the date of this policy. In the absence of notice
<br />as aforesaid, the 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,' ~ICOR 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 />Pre!lident
<br />
<br />Attest
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<br />Secretary
<br />
<br />By
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<br />~oa
<br />.da
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<br />I Texas
<br />
<br />Countersigned at
<br />
<br />Authorized Countersignature
<br />
<br />TO 1459 TX (6.85) T-1 Owner Policy of Title Insurance Form'Prescribed by the Texas Board of Insurance - 9-1.75
<br />
<br />CAT, NO. NN00747
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