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<br />CONDITIONS AND STIPULATIONS. Continued
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<br />11, LIABILITY NONCUMULATIVE,
<br />II is expressly understood that Ihe amounl of insurance under Ihis policy shall be reduced by any amount the Company may pay under any policy insuring a mortgage to
<br />which exception is taken in Schedule B or to which Ihe insured has agreed, assumed, or taken subject, or which is hereafter executed by an insured and which is a charge
<br />or lien on the estale or interest described or referred 10 in Schedule A, and the amount so paid shall be deemed a paymenl under this policy to the insured owner.
<br />12, PAYMENT OF LOSS,
<br />(a) No paymenl shall be made withoul producing this policy for endorsement of the payment unless Ihe policy has been lost or destroyed, in which case proof of loss or
<br />destruction shall be fumished to the satisfaction of the Company,
<br />(b) When liability and the extenl of loss or damage has been definitely fixed in accordance with Ihese Condilions and Stipulations, \he loss or damage shall be payable
<br />wi\hin 30 days thereafter, -
<br />13, SUBROGATION UPON PAYMENT OR SETTLEMENT,
<br />(a) The Company's Right of Subrogation,
<br />Wl!enever \he Company shall have sellledand paid a claim under this policy, all righl of subrogation shall vest in the Company unaffected by any act of the insured
<br />claimant.
<br />The Company shall be subrogated to and be entiUed to all rights and remedies \hat \he insured claimant would have had against any person or property in
<br />respect 10 \he claim had \his policy not been issued, If requested by \he Company, the insured claimant shall transfer to the Company all rights and remedies
<br />againsl any person or property necessary in order to perfect this righl of subrogation, The insured claimant shall permit the Company to sue, compromise or sellle in
<br />the name of the insured claimant and to use the name of the insured claimant in any transactic.n or litigation involving these rights or remedies,
<br />If a payment on account of a claim does nol fully cover the IQss of \he insured claimant, the Company shall be subrogated 10 \hese rights and remedies in the
<br />proportion Ihat Ihe Company's paymenl bears to the whole amount of Ihe loss,
<br />, If loss should result from any act of the insured claimant, as slaled above, Ihat act shall not void Ihis policy, but Ihe Company, in that event, shall be required
<br />to pay only that part of any losses insured against by this policy thai shall exceed the amount, if any, lost 10 the Company by reason of \he impairmenl by \he insured
<br />claimant of the Company's right of subrogation.
<br />(b) The Company's Rights Against Non.lnsured Obligors,
<br />The Company's right of subrogation against non-insured obligors shall exisl and shall include, wilhout limitation, \he rights of the insured to indemnities, guaranties,
<br />o\her policies of insurance or bonds, notwithstanding any terms or conditions contained in those instruments that provide for subrogation rights by reason of this
<br />policy, -
<br />14, ARBITRATION.
<br />Unless prohibiled by applicable law or unless this arbilration section is deleted by specific provision in Schedule B of this policy, either the company or Ihe insured may
<br />demand arbitration pursuant 10 \he Tille Insurance Arbilralio!1 Rules of Ihe American Arbitration Association, Arbitrable mailers may include, but are not limited 10, any
<br />controversy or claim between the Company and the Insured arising oul of or relating 10 Ihis policy, any service of the Company in connection with its issuance or the
<br />breach 'of a policy provision or-other obligation, All arbitrable mailers when the Amount of Insurance is $1,000,000 or less SHALL BE ARBITRATED at the request of,
<br />ei\her the Company or the Insured, unless the insured is an individual person (as distinguished from a corporation, trust, partnership, association or other legal entity). All
<br />arbitrable mailers when the Amounl of Insurance is in excess of $1,000,000 shall be arbitrated only when agreed to by both the Company and the Insured. Arbitration
<br />pursuant to this policy and under the Rules in effect on the dale the demand for arbnration is made or, at the option of Ihe insured, the Rules in effect at Date of Policy
<br />shall be ~inding upon t~e parties, The award may include allomey's fees only if the laws of the state in which Ihe land is localed permit a court to award attomeys' fees to
<br />a prevailing party, Judgmenl upon the award rendered by the Arbitrator(s) may be entered in any court having jurisdiction thereof,
<br />The law of the silus of the land shall apply 10 an arbnration under the TiUe Insurance Arbitralion Rules,
<br />A copy of the Rules may be obtained from the Company upon request.
<br />15, LIABILITY LIMITED TO THIS POLICY: POLICY ENTIRE CONTRACT,
<br />(a) This policy together with all endorsements, if any, attached hereto by the Company is the entire policy and contract between the insured and the Company. In
<br />interpreting any provision of this policy, this policy shall'be construed as a whole,
<br />(b) Any claim of loss or damage, whether or not based on negligence, and which arise out of the status of the tiUe to the estate or interest covered hereby or by any
<br />action asserting such claim, shall be restricted 10 this policy,
<br />(c) No amendment of or endorsemenlto this policy can be made except by a writing endorsed hereon or attached hereto signed by either the Presidenl, a Vice
<br />President, the Secretary, an Assistant Secretary, or validating officer or authorized signatory of the Company,
<br />16, SEVERABILITY,
<br />In I~ event any provision of Ihe policy is held invalid or unenforceable under applicable law, the policy shall be deemed not to include \hat provision, and all other
<br />provisions shall remain in full force and effect.
<br />17, NOTICES, WHERE SENT,
<br />All notices required to be given the Company and any statement in writing required to be furnished the Company shall inetude the number of this policy and shall be
<br />addressed to the Company at 10010 San Pedro, Suite 800, San Antonio, Texas 78216-3895,
<br />COMPLAINT NOTICE
<br />Should any dispute arise about your premium or about a claim that you have filed, contaet the agent or write to the Company that issued the policy, If the
<br />problem is ncit.resolved, you also may write the Texas Department of Insurance, P,O, Box 149091, Austin, TX 78714-9091, Fax No. (512) 475-1771. This notice of
<br />complaint procedure is for information only and does not become a part or condition of this poll!:}',
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