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<br />the prior written consent of the Company,
<br />10. REDUCTION OF INSURANCE: REDUCTION OR TERMINATION OF LIABILITY.
<br />All payments under this Policy, except payments made for costs, attorneys' fees and expenses, shall reduce the amount of the insurance pro tanto,
<br />11. LIABILITY NONCUMULATIVE.
<br />It is expressly understood that the Amount of Insurance under this POlicy shall be reduced by any amount the Company may pay under any Policy insuring
<br />a mortgage to which exception is taken in Schedule B or to which the Insured has agreed, assumed or taken subject, or which is hereafter executed by an
<br />Insured and which is a charge or lien on the estate or interest described or referred to in Schedule A, and the amount so paid shall be deemed a payment under
<br />this Policy to the insured owner.
<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
<br />proof of loss or destruction shall be furnished 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
<br />be payable within 30 days thereafter,
<br />13. SUBROGATION UPON PAYMENT OR SETTLEMENT.
<br />(a) The Comoanv's Rioht of Subrooation .
<br />Whenever the Company shall have settled and paid a claim under this Policy, all rights of subrogation shall vest in the Company unaffected by any act
<br />of the Insured Claimant. The Company shall be subrogated to and be entitled to all rights and remedies that the Insured Claimant would have had against
<br />any person or property in respect to the claim had this policy not been issued, If requested by the Company, the Insured Claimant shall transfer to the
<br />Company all rights and remedies against any person or property necessary in order to perfect this right of subrogation, The Insured Claimant shall permit
<br />the Company to sue, compromise or settle in the name of the Insured Claimant and to use the name of the in any transaction or litigation involving these
<br />rights or remedies,
<br />If a payment on account of a claim does not fully cover the loss of the Insured Claimant, the Company shall be subrogated to these rights and remedies
<br />in the proportion that the Company's payment bears to the whole amount of the lass,
<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
<br />required to pay only 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
<br />impairment by the Insured Claimant of the Company's right of subrogation,
<br />(b) The Comoanv's Riohts Aoainst Non-Insured Oblioors
<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,
<br />guaranties, other pOlicies of insurance or bonds, notwithstanding any terms or conditions contained in those instruments that provide for subrogation
<br />rights by reason of this Policy,
<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
<br />Insured may demand arbitration pursuant to the Tille Insurance Arbitration Rules of the American Arbitration Association, Arbitrable matters may include, but
<br />are not limited to, any controversy or claim between the Company and the Insured arising out of or relating to this Policy, and service of the Company in
<br />connection with its issuance or the breach of a Policy provision or other obligation, All arbitrable matters, when the Amount of Insurance is $1,000,000 or less
<br />SHALL BE arbitrated at the request of either the Company or the Insured, unless the Insured is an individual person (as distinguished from a corporation, trust,
<br />partnership, association or other legal entity), All arbitrable matters when the Amount of Insurance is in excess of $1 ,000,000 SHALL BE arbitrated only when
<br />agreed to by both the Company and the Insured, Arbitration pursuant to the Policy and under the Rules in effect an the date the demand for arbitration is made,
<br />or at the option of the Insured, the Rules in effect at the Date of Policy shall be binding upon the parties, The award may include attorneys' fees only if the
<br />laws of the state in which the land is located permit a court to award attorneys' fees to a prevailing party, Judgment upon the award rendered by Arbitrator(s)
<br />may be entered in any court having jurisdiction thereof.
<br />The law of the situs of the land shall apply to any arbitration under the Title Insurance Arbitration 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
<br />Company, In 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 arises out of the status of the title to the estate or interest covered hereby
<br />or by any action 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
<br />Vice President, the Secretary, an 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
<br />other provisions shall remain in full force and effect.
<br />17. NOTICES.WHERESENT.
<br />All notices required to be given the Company and any statement in writing required to be furnished the Company shall include the number of this Policy and
<br />shall be addressed to the Company at 1945 Walnut Hill Lane, Irving, Texas 75038,
<br />COMPLAINT NOTICE.
<br />Should any dispute arise about your premium or about a claim that you have flied, contact the agent or write to the Company that issued the Policy.
<br />If the problem Is not resolved, you also may write the Texas Department of Insurance, P.O. Box 149091, Austin, TX 78714-9091, Fax No. (512) 475-1771.
<br />This notice of complaint procedure is for Information only and does not become a part or condition of this Policy.
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