|
<br />
<br /> .. ."
<br /> QJ '"," "
<br /> u u: u
<br /> C 0 I" -. ~
<br /> CI) as w '"'
<br /> ~ ~
<br />>- () >~ 0 fI)
<br />() men u: .s lit
<br /> C '0.5 u. as
<br />.- 0 >Co
<br />- m Be QJ
<br />0 III ~. (!N
<br /> ... 3: o~
<br />a. ::J .- .. . iooI
<br />.... ~ C I- f-c
<br /> 0 0 U G) :t: 'c SI
<br />... I E CJ 0 Si
<br />CI) c 0.1: ::;:) e c
<br />c - 0 ~ ct
<br /> CI) E! a: I
<br />~ C..-
<br /> - ~ G) :t: as
<br />0 .... 00 I- en
<br /> .- c <t
<br /> I- ~ en w
<br /> as ::;:)
<br /> >C en
<br /> ~ !!!
<br />
<br />
<br />
<br />
<br />;.~_ oS_ -~....:". .:::.::-.
<br />
<br />.~ ':" _ CONDrr,IGNS>AND STIPUbATIONS_" ~~ntinued,
<br />
<br />
<br />lhe prior written consent of the Company,
<br />10. I I
<br />All payments under lhis Policy, except payments made for cosls, attorneys' fees and expenses, shall reduce the amount of the insurance pro lanto,
<br />11. l-IABILITV NONCUMULATIVE.
<br />It is expressly underslood thallhe Amounl of Insurance under this Policy shall be reduced by any amount the Company may pay under any Policy insuring
<br />a mortgage to which exceplion is laken in Schedule B or to which the Insured has agreed, assumed or taken subject, or which is herealler execuled by an
<br />Insured and which is a charge or lien on the eslate or interesl described or referred 10 in Schedule A, and the amount so paid shall be deemed a paymenl under
<br />this Policy to the insured owner,
<br />12. PAYMENT OF LOSS.
<br />(a) No,paymenl shall be made without producing this Policy for endorsemenl of the payment unless the Policy has been lost or deslroyed, in which case
<br />proof of loss or deslruclion shall be furnished 10 lhe satisfaction of lhe Company, '
<br />(b) When Iiabilily and lhe exlenl of loss or damage has been definitely fixed in accordance with these Conditions and Stipulations, the loss or damage shall
<br />be payable wilhin 30 days thereafter,
<br />13. ~UBR~GAIION UPON PAYMENT OR SETTLEMENT.
<br />(a) Lh.!! ~Qmoanv's Rioht of Subroaation,' .
<br />Whenever lhe 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 lhe Insured Claimant. The Company shall be subrogated 10 and be enlilled to all rights and remedies lhat lhe Insured Claimanl would have had against
<br />any person or property in respect 10 lhe claim had lhis policy not been issued, If requested by lhe Company, the Insured Claimanl shall transfer to the
<br />Company all rig his and remedies againsl any person or property necessary in order 10 perfect this right of subrogalion. The Insured Claimant shall permit
<br />the Company 10 sue, compromise or settle in the name of the Insured Claimant and 10 use lhe name of lhe in any transaction or litigation involving these
<br />righls or remedies, ' '
<br />II a paymenl on account of a claim does nol fully cover lhe loss of lhe Insured Claimant, the Company shall be subrogated to lhese righlS and remedies
<br />in the proportion lhat the Company's paymenl bears 10 lhe whole amount of the loss,
<br />If loss should resull from any act of the Insured Claimanl, as staled above, lhal act shallnol void this Policy, bullhe Company, in lhat evenl, shall be
<br />required 10 pay only lhat part of any losses insured againsl by lhis Policy that shall exceed lhe amounl, if any, losl to lhe Company by reason of lhe
<br />impairment by the Insured Claimant of lhe Company's right of subrogalion.
<br />(b) The Camoanv's Riahls Aaainst Non-Insured Obliaors.
<br />The Company's righl of subrogalion againsl non-insured obligors shall exist and shall include, without Iimilation, the rights of the Insured to indemnities,
<br />guaranlies, other policies of insurance or bonds, notwilhstanding any lerms or condilions contained in lhose inslrumenls lhal provide for subrogation
<br />rights by reason of lhis Policy,
<br />14. ARBITRATION,'
<br />Unless proliibiled by applicable law or unless this arbitration section is deleled by specific provision in Schedule B of this Policy, either the Company or the
<br />Insured may demand arbitralion pursuant 10 lhe Title Insurance Arbitration Rules of the American Arbitration Association, Arbitrable matters may include, but
<br />are not,li!TIited t9, any controversy or claim between the Company and lhe Insured arising out of or relaling to this Policy, and service of the Company in
<br />~~n.,!l(;l!qn wit~ its:j!i~JJ_anc_~r.ttJe~r~~~h ota ~iCY_R!-O~n.e_~~g~[l.:.AI~jY'~W~\t~~' ~~en..1l:1e P'!!.o~I!!,.,Qf I~surance is $1,OOO,0~ or less
<br />SHALL BE arbllraled at the request of ellher lhe Company or lIle Insurea, unless'tlie'lnsurecfls an-indIVidual person (as distinguIshed from a corporatIon, trusl,
<br />partnership, associalion or other legal enlily), All arbitrable matters when the Amount of Insurance is in excess of $1,000,000 SHALL BE arbitraled only when
<br />agreed 10 by both lhe Company and lhe Insured, Arbilralion pursuant to lhe Policy and under the Rules in effect on the dale the demand for arbilralion is made,
<br />or al the option of the Insured, the Rules in effect at lhe Dale of Policy shall be binding upon the parties, The award may include attorneys' fees only if lhe
<br />laws of the stale in which the land is located permil a court to award attorneys' fees 10 a prevailing party, Judgmenl upon the award rendered by Arbitralor(s)
<br />may be enlered in any court having jurisdiction thl;lreof.
<br />The law of lhe silus of the land shall apply 10 any arbitration under lhe Tille Insurance Arbilralion Rules,
<br />A copy of lhe Rules may be obtained from lhe Company upon request.
<br />15. LIABILITY LIMITED TO THIS POLICY' POLICY ENTIRE CONTRACT.
<br />(a) This Policy togelher with all endorsemenls,if any, attached hereto by the Company is the enlire Policy and contract between the Insured and lhe
<br />company, In inlerpreting any provision of this Policy, this Policy shall be construed as a whole,
<br />,(b) Any claim of loss or damage whether or nol based on negligence and which arises out of lhe slatus of the tille 10 the estate or interest covered hereby
<br />or by any action asserting such claim shall be restricted to this Policy,
<br />(c) No amendmenl of or endorsemenl to lhis Policy can be made except by a writing endorsed hereon or attached hereto signed by either the President, a
<br />Vice President, lhe Secrelary, an Assistanl Secrelary or validating officer or authorized signalory of lhe company;
<br />16. SEVERABILITY. '
<br />In the evenl any provision of the POliCY is held invalid or unenforceable under applicable law, lhe Policy shall be deemed nol to include that provision and all
<br />olher provisions shall remain in full force and effect.
<br />17. NOTICES WHERE SENT.
<br />All nolices required to be given the Company and any stalemenl in writing required to be furnished lhe Company shall include lhe number of this Policy and
<br />shall be addressed 10 the Company at 1945 Walnul Hill Lane, Irving, Texas 75038,
<br />COMPLAINT NOTICE.
<br />Should any disputa arise about your premium or about a claim that'you have filed, cOl'!tact the agent or write to the Company that Issued the polley.
<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 15 for Information only and does not become a part or condition of this Policy.
<br />
<br />/
<br />
<br />
<br />
|