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<br />CONDITIONS AND S'nPULATlONS . Continued
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<br />11. LIABILITY NONCUMULATIVE.
<br />It is expl8SSly undenllood 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 agraed, 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. PAYMENTOFLoss.
<br />(a) No payment shall be made without producing this policy for endorseme;,tof the payment unless the policy has been lost or dastroyed, in which case proof of loss or
<br />destnJclion shall be fumished to the satisfaction of the Company,
<br />(b) When liability and the extent of loss or damage has been definitely fixed in accordance with these Conditions and Stipulations, the loss or damage shall be payable within 30
<br />days thereafter,
<br />13. SUBROGATION UPON PAYMENT OR SETTLEMENT.
<br />(a) The Company'a Right of Subrogation.
<br />Whenever the Company shall have settled and paid a claim under this policy, all right of subrogation shall vast in the Company unaffected by any act of the Insured claimant.
<br />The Company shall be subrogated to and be enWed to all rights and remedies that the insured claimant would have had against any pelSOn or proparty 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 pelSOn or property
<br />necessary in order to pelfect this right of subrogation. The insured claimant shall permit the Company to sue, compromise or settle in the name of the insured 'Claimant and to
<br />use the name of the Insured claimant in any transaction or Iitlgetion involving these rights or remedies.
<br />If a payment on account of a claim does not fully cover the loss of the insured claimant, the Compeny shall be subrogated to these rights and remedies in the proportion
<br />that the Company's payment bears to the whole amount of the lois.
<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 lossas insured against by this policy that shall exceed the amount, if any, lost to tha Company by reason of the impairment by the insured claimant of the
<br />Company's right of subrogation.
<br />(b) The Company's Rlghl81\galnst Non-lnsurect Obllgora. .
<br />The Company's right of subrogation against non-insured obligors shall exist and shall ,include, without limitation, the rights of the insured to indemnities, guaranties, other
<br />policies of insurance or bonds, notwithstanding any terms or conditions contained in those instlUments 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 compeny or the insured m>> demand
<br />arbitration pursuant to the Title Insurance Arbitration Rules of the American Arbitration Association. Arbitrable matters may include, but are notlimiled to, any controVlirstoM:laim
<br />between the Company and the Insurad arising out of or ralating to this policy, any service of the Company in connection with its issuance or the braach of a policy provision or other
<br />obligation. All arbitrable matters 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 insurad
<br />is an individual pelSOn (as distinguished from a colporation, tlUst, partnership, association or other legal entity). All arbitrable matters when the Amount of Insurance is in excess of
<br />$1,000,000 shall be arbitrated only when agraed to by both the Company,and the Insured, Arbitration pursuant to this policy and under the Rules in effect on the date the demand
<br />for arbitration is made or, at the option of the insurad, the Rules in effect at Date of Policy shall be binding upon the perties. The award may include allomeys' fees only if the laws
<br />of the state in which the land is located permit a court to award allomeys' fees to a prevailing party. Judgment upon the award I'!lndered by the Arbitrator(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 Title 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, attached 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 title to the estate or interest covered hereby or by any action
<br />asserting 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 attached 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 />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 />remein 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 fumished the Company shall include the number of this policy and shall be addressed to
<br />the Company at 10010 San Pedro, Suite 800, San Antonio, Texas 78216-3895,
<br />
<br />COMPLAINT NOTICE.
<br />Should any dlapute arlll about your premium or about a claim that you have tiled, contact the agent or write to the Company that Issued the policy. If the problem Is
<br />not I'88Olvecl, you al80 may write the TexlI Department of Insurance, P.O. Box 149091, Au8lln, TX 78714-90111, Fill No. (512) 475-1n1. This notice of complaint procedure's
<br />for Infonnatlon only snd dOlI not become a part or condition of this policy.
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