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<br />CONDITlONS AND BTIPULA't:IONS . ConllnU8cl
<br />
<br />11. UABILITYNONCUMULAnvE.
<br />It Is expnsssly understood that the amount of Insurance under this policy shall be reduced by any amount the Company may pay under any policy Insuring a mortgage to which
<br />exception is taken in Schedule B or to which the Insured has agreed, assumed, or taken subject, or which Is hereafter executed by an Insured and which Is a charge or lien on
<br />the estate or interest described or referred to in Schedule A, and the amount so paid shall be deemed a payment under this policy to the insured owner.
<br />
<br />12. PAYMENT OF LOss.
<br />(a) No payment shall be made without producing this policy for endorsement of the.payment unless the policy has been lost or destroyed, in which case proof of loss or
<br />destruction shall be furnished to the satisfaction of the Company. , -
<br />(b) When liability and the extent of loss or damage hes been definitely fixed In accordance with these Conditions and Stipulations, the loss or damage shall be payable within 30
<br />days thereafter.
<br />
<br />13. SUBROGATION UPON PAYMENT OR SmLEMENT.
<br />(a) The Company'. Right of Subrogation. ,
<br />Whenever the Company shall have seWed and paid a claim under this policy, all iight of subrogation shall vest in the Company unaffected by any act of the Insured claimant.
<br />The Company shall be subrogated to and be entiUed to all rights and remedies that the insured claimant would have had against any person or property In respect to the
<br />claim had this policy not been issued. If requested by the Company, the insured claimant shall transfer to the Company all rights and remedies against any person or property
<br />necessary in order to perfect this right of subrogation. The Insured claimant shall permit the Company to sue, compromise or seUle In the name of the Insured claimant and to
<br />use the name of the insured claimant In any transaction or lltigetion involving these rights or remedies.
<br />If a payment on account of a claim does not fully coyer the loss of the Insured c1alman~ the Company shall be subrogated to these rights and remedies In the proportion
<br />that the Company's payment bears to the whole amount of the loss.
<br />If loss should result from any act of the insured claimant, as stated above, that act shall not void this policy, but the Company, in that event, shall be required to pay only
<br />that part of any losses Insured against by this policy that shall exceed the amount, if any, lost to the Company by reason of the impairment by the Insured claimant of the
<br />Company's right of subrogation.
<br />(b) The Company'e Rights Agalnet Non-Insured Obllgora.
<br />The Company's right of Subrogation against non-insllred obligors shall exist and shall.include, without limitation, the rights of the insured to Indemnities, guaranties, other
<br />policies of insurence or bonds, notwithstanding any terms or conditions contained In those Instruments that provide for subrogation rights by reason of this policy.
<br />
<br />14. ARBITRATION.
<br />Unless prohibited by applicable law or unless this arbitration section Is deleted by specific provision in Schedule B of this policy, either the company or the insured may demand
<br />arbitration pursuant to the Title Insurence Arbitration Rules of the American Arbitration Association. Arbitrable maUers may include, but are not limited to, any controversy or claim
<br />between the Company and_ the Insured arising out of or relating to this policy, any service of the Company In connection with its Issuance or the breach of a policy provision or other
<br />obligation. All arbitrable metiers when the Amount of Insurance is $1,000,000 or less SHALL BE arbitrated at the request of either the Company or the Insured, unless the insured
<br />Is an Individual person (~ distinguished from a CX!rporatiQrl'_ trust, _partnershil1~~atlon C!r o'.h_er .1. al entiM., A~ arbi~e maue~ whe-" th~ ~m.oJlnt~f l!!!,!ra1!ge is .in excess of _ .- . - -
<br />_ l:;OOO;OOO'Slfli~lbitrill!ll'6iilrwlien-'-agreea to'DY-bOlIi th8'company-anil'lIie'rnsmec:- rbltration pursuant to tl\ls'pollCy and under tlie Rules In effect 0-" the date the demand -
<br />for arbitration is made or, at the option of the insured, the Rules In effect at Date of Policy shall be binding upon the parties. The award may include aUomeys' fees only if the laws
<br />of the state in which the land is located permit a court to award auomeys' fees to a prevailing party. Judgment upon the award rendered by the Arbltrator(s) may be entered in any
<br />court having jurisdiction thereof. .
<br />The law of the situs of the land shall apply to an arbitration under the litie Insurance Arbitration Rules.
<br />A copy of the Rules may be obtained from the Company upon request
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<br />15. LIABILITY LIMITED TO THIS POLICY: POLICY ENTIRE CONTRACT.
<br />(a) This policy together with all endorsements, if any, aU8ched hereto by the Company is the entire policy and contract between the insured and the Company. In interpreting any
<br />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 tlUe to the estate or interest covered hereby or by any action
<br />esserting such claim, shall be restricted to this policy.
<br />(c) No amendment of or endorsement to this policy can be made except by a writing endorsed hereon or aU8ched hereto signed by either the President, a Vice President, the
<br />Secretary, and Assistant Secretary, or validating officer or authorized signatory of the Company.
<br />
<br />16. SEVERABILITY.
<br />In the event any provision of the policy is held invalid or unenforceable under applicable law, the policy shall be deemed not to include that provision, and all other provisions shall
<br />remain in full foros and effl!Cl.
<br />
<br />17. NOTICES, WHERE SENT.
<br />All notices required to be given the Company and any statement in writing required to be fumished the Company shall include the number of this polley and shall be addressed to
<br />the Company at 10010 San Pedro, Suite BOO, San Antonio, Texas 78216-3895. -
<br />
<br />COMPLAINT NOTICE.
<br />Should any dispute arise about your prem(umor about a claim that you have f1Iec1, contact the agent or write to the Company that lesued the policy. If the probllm Is
<br />not I8lIOlvecl, you el80 may write the Texas Department of Insurance, P.O. Box 149091, Austin, TX 78714-9091, Fill No. (512) 475-1771. This notice of complaint procedure Ie
<br />for Information only and dOlI not bacome a part or condition of this policy.
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