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. (b) To Payor Otherwise Settle With Parties Other than the Insured or With the Insured Claimant (I) to payor otherwise settle with other parties for or In the name 'Of a'n Insured claimant any claim insured against under this policy, together with any costs, attorneys' fees and expenses incurred by the Insured claimant which were authOrized by the Company up to the time of payment and which the Company IS obligated to pay; or (II) to payor otherwise settle With the Insured claimant the loss or damage prOVided for under this policy, together with any costs, attorneys' fees and expenses Incurred by the Insured claimant which were authorized by the Company up to the time of payment and which the Company IS obligated to pay. Upon the exerCise by the Company of either of the options prOVided for In paragraphs (b)(l) or (II), the Company's obligations to the Insured under this policy for the claimed loss or damage, other than the payments required to be made, shall terminate, including any liability or obligation to defend, prosecute or continue any litigation. 7. DETERMINATION, EXTENT OF LIABILITY AND COINSURANCE. This policy IS a contract of indemnity against actual monetary loss or damage sustained or Incurred by the Insured claimant who has suffered loss or damage by reason of matters insured against by this policy and only to the extent herein described (a) The liability of the Company under this policy shall not exceed the least of (I) the Amount of Insurance stated in Schedule A; (II) the difference between the value of the insured estate or interest as Insured and the value of the insured estate or interest subject to the defect, lien or encumbrance insured against by this policy at the date the insured Claimant is required to furnish to Company a proof of loss or damage in accordance with Section 5 of thes'.! Conditions and Stipulations. (b) In the event the Amount of Insurance stated In Schedule A at the Date of PoliCY IS less than 80 percent of the value of the insured estate or interest or the full consideration paid for the land, whichever IS less, or if subsequent to the Date of Policy an improvement is erected on the land which increases the value of the insured estate or Interest by at least 20 percent over the Amount of Insurance stated in Schedule A, then this Policy is subject to the follOWing: (i) where no subsequent Improvement has been made, as to any partial loss, the Company shall only pay the loss pro rata in the proportion that the amount of insurance at Date of Policy bears to the total value of the insured estate or Interest at Date of Policy; or (ii) where a subsequent improvement has been made, as to any partial loss, the Company shall only pay the loss pro rata in the proportion that 120 percent of the Amount of Insurance stated in Schedule A bears to the sum of the Amount of Insurance stated in Schedule A and the amount expended for the improvement The provisions of this paragraph shall not apply to costs, attorney's fees and expenses for which the Company IS liable under this policy, and shall only apply to that portion of any loss which exceeds, in the aggregate, 10 rercent of the Amount of Insurance stated In Schedule A. (c) The Company will pay only those costs, attorneys' fees and expenses Incurred in accordance With Section 4 of these Conditions and Stipulations. 8. APPORTIONMENT. If the land described in Schedule A consIsts of two or more parcels that are not used as a Single site, and a loss IS established affecting one or more of the parcels but not all, the loss shall be computed and settled on a pro rata basis as If the amount of insurance under this policy was diVided pro rata as to the value on Date of Policy of each separate parcel to the whole, exclUSive of any Improvements made subsequent to Date of POliCY, unless a liability or value has otherWise been agreed upon as to each parcel by the Company and the Insured at the time of the Issuance of this policy and shown by an express statement or by an endorsement attached to thiS policy. 9. LIMITATION OF LIABILITY. (a) It the Company establishes the title, or removes the alleged defect, lien or encumbrance, or cures the lack of a right of access to or from the land, all as insured, or takes action In accordance With Section 3 or Section 6, In a reasonably diligent manner by any method, including litigation and the completion of any appeals therefrom, It shall have fully performed its obligations With respect to that matter and shall not be liable for any loss or damage caused thereby. (b) In the event of any litigation, Including litigation by the Company or With the Company's consent. the Company shall have no liability for loss or damage until there has been a final determination by a court of competent jUrisdiction, and disposition of all appealS therefrom, adverse to the title as insured. (c) The Company shall not be liable for loss or damage to any Insured lor liability voluntarily assumed by the Insured In settling any claim or SUit Without the prior written consent of the Company 10. REDUCTION OF INSURANCE: REDUCTION OR TERMINATION OF LIABILITY. All payments under this POlICY, except payments made for costs, attorneys' fees and expenses, shall reduce the amount of the Insurance pro tanto 11. LIABILITY NONCUMULATIVE. 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 a mortgage to which exception IS taken In Schedule B or to whIch the msured has agreed, assumed or taken subject. or which IS hereafter executed by an Insured and which is a charge or lIen on the estate or mterest deSCribed or referred to m Schedule A, and the amount so paid shall be deemed a payment under thiS policy to the Insured owner 12. PAYMENT OF LOSS. (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 destructIon shall be furnished to the satisfaction of the Company, (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 days thereafter 13. SUBROGATION UPON PAYMENT OR SETTLEMENT. (a) The Company's Right of Subrogation, Whenever the Company shall have settled and paid a claim under this policy, all right of subrogation shall vest In the Company unaffected by any act of the insured claimant. The Company shall be subrogated to and be entitled to all rights and remedies that the insured claimant would haVl~ had against any person or property in respect to the claim had this policy not been issued. If requ~sted by the Company, the insured claimant shall transfer to the Company all rights and remedies against any person or property necessary in order to perfect 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 use the name of the insured claimant in any transaction or litigation involving these rights or remedies. 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 in the proportion which the Company's payment bears to the whole amount of the loss. It 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 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 Company's right of subrogation. (b) The Company's Rights Against Non-insured Obligors, The Company's right of subrogation against non-insured obligors shall exist and shall include, wi.thout limitation, the rights of the insured to indemnities, guaranties, other poliCIes of insurance or bonds, notwithstanding any terms or conditions contained in those instruments that provide for subrogation rights by reason of this policy. 14. ARBITRATION. 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 arbitration pursuant to the Title Insurance Arbitration Rules of the American Arbitration Association. Arbitrable matters may include, but are not limited to, any controversy or claim 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 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 Insured is an individual person (as distinguished from a corporation, trust, 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 agreed to by both the Company and the insured. Arbitration pursuant to this policy and under the Rules in effect on the date the demand for arbitration is made or, atlhe option of the insured, the Rules in effect at Date of Policy shall be binding upon the parties, The award may include attorneys' fees only if the 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 the Arbitrator(s) may be entered in any court having jurisdiction thereof, The law of the situs of the land shall apply to an arbitration under the Title Insurance Arbitration Rules. A copy of the Rules may be obtained from the Company upon request 15. LIABILITY LIMITED TO THIS POLICY: POLICY ENTIRE CONTRACT. (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 prOVISion of this policy, this policy shall be construed as a whole (b) Any claIm ot loss or damage, whether or not based on negligence, and which arises out of the status of the title to the estate or interesl covered hereby or by any acllon asserting such claim, shall be restricted to this policy. (c) No amendment of or endorsement to this poliCY can be made except by a writing endorsed hereon or attached hereto signed by either fhe President, a Vice PreSident, the Secretary, an ASSistant Secretary, or validating officer or author- Ized signatory of the Company 16. SEVERABILITY. 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 remain in full force and effect 17. NOTICES, WHERE SENT. 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 shall be addressed to the Company at 8131 LBJ Freeway, Suite 450, Dallas. Texas 75251. COMPLAINT NOTICE. Should any dispute arise about your premium or about a claim that you have liled, contact the agent or write to the Company that issued the policy. " the problem is not resolved, you also may write the Texas Department 01 Insurance, P.O. Box 149091, Austin, TX 78714-9091, Fax No. (512) 475-1771. This notice 01 complaint procedure is lor information only and does not become a part or condition 01 this policy. The Texas Department of Insurance may be called toll-free at 1-800-252-3439. ArtIcle 1.35D, Texas Insurance Code reqUires the Department to provide the follOWing to the publiC. "(1) informatIon collected or maintained by the department relating to the number of complaints received against a particular insurer and the diSPOSition of the complaints: (2) the rating of the Insurer, if any, as published by a natIonally recognized rating organization; (3) the types of coverages available to a consumer through any Insurer writing Insurance In thiS state: and (4) other appropriate Information collected and maintained by the department."