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<br />(b) When liability and the extent of loss or dan!as been definitely fixed in accordance with these Conditions and Stipulations, the loss or damage shal: be '~a;ab~e'
<br />within 30 days thereafter,
<br />13, SUBROGATION UPON PAYMENT OR SETTLEMENT.
<br />(a) The Company's Right of Subrogation.
<br />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
<br />claimant,
<br />The Company shall be subrogated to and be entitled to all rights and remedies that the insured claimant would have had against any person or property in
<br />respect to the claim had this policy not been issued, Ifrequested by the Company, the insured claimant shall transfer to the Company all rights and remedies against any
<br />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
<br />insured claimant and to use the name of the insured claimant in any transaction or litigation 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 Company shall be subrogated to these rights and reJDedies in the
<br />proportion which 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
<br />only that pan 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
<br />of the Company's right of subrogation.
<br />(b) The Company's Rights Against Non-insured Obligors.
<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,
<br />other policies of insurance or bonds, notwithstanding any terms or conditions contained in those insuuments that provide for subrogation 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 insured
<br />may demand arbitration pursuant to the Title Insurance Arbitration Rules of the American Arbitration Association, Arbitrable matters may include, but are not limited to,
<br />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
<br />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
<br />the Company or the insured, unless the insured is an individual person (as distinguished from a corporation, uust, partnership, association or other legal entity), All
<br />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
<br />pursuant to this policy and under the Rules in effect on the date the demand for arbitration is made or, at the option of the insured, the Rules in "effect
<br />at Date of Policy shall be binding upon the parties, The award may include attorney's fees only if the laws of the state in which the land is located permit
<br />a coun to award attorney's fees to a prevailing party, Judgment upon the award rendered by the Arbitrator(s) may be entered in any coun 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,
<br />15, UABILITY LIMITED TO THIS POUCY: POUCY 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,
<br />In interpreting any provision of this policy, this poHcy shall be construed as a whole,
<br />(b) Any claim of loss or damage, whether or not based on negligeoce, 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 poncy.
<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,
<br />a Vice President, the Secretary, an AssIstant Secretary, or validating off"reer 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
<br />provisions shall remain 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 furnished the Company shall include the number of this policy and shall
<br />be addressed to the Company at P,Q. Box 2029, Houston, Texas 77252-2029,
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<br />COMPLAINT NOTICE.
<br />Should any dispute arise about your premium or about a claim that you have r.),ed, contact the agent or write to the Company
<br />that issued the policy. If the problem is not resolved, you also may write the Texas Department of Insurance, P.O. Box 149091,
<br />Austin, TX 78714-9091, Fax No. (512) 475-1771. This notice of complaint procedure is for information only and does not become
<br />a part or condition of this policy.
<br />
<br />STEWART TITLE
<br />GUARANTY COMPANY
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