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<br />L Defhl1t1on of, Te1'lD8
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<br />The following tenns when DBed 11:1. this pollq meaD: ,
<br />(a) "lsnd": the land described, Bpeclflcally or by reference, and Improvements attlxed thereto which bylaw constitute real property;
<br />(bl "pubUe records": those records which Impart conBtructlve notice of matters relating to said land;
<br />(c) "knowlellge": actual knowledge, not constructive knowledge or notice which may be Imputed to the Assured. by reason of BJJy
<br />public records; BJJd
<br />'(d) "date": the effective date, including hour It specified.
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<br />2. Exclusions from the Coverage of this Policy
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<br />This pollcy does not msure agaInst loss or damage by reason of the following:
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<br />(a) The refusal of any person to purchase, lease or lend money on the land.
<br />(b) Governmental rights of pollce power or eminent domain unless notice of the exercise of such rights appears In the publlc recoras
<br />at the date hereof; and the consequences of any law, ordinance or govcrnmental regulation inclualng but not llmlted to buUding BJJd zoning
<br />ordinances.
<br />(cl Any titles or rights assertea by anyone, Including but not llmited to persons, corporations, governments or other entities to tlae-
<br />lands, or lanels comprising the shores or beds of naylgable or perennial rlycrs and streaws, lakes, bays. gulfs or oceans, or to auy land
<br />extending from the line of mean low tide to the line of vegetutlon, or to lands beyond the line of the harbor or bulkheaa lines as estab-
<br />lished or changed by o:ny government, or to.,fllled .in la.nds or artificial Islands or to riparian rtghts} or the rights or Interests of the
<br />Htute of l.'exas or the public generally In the' area extenaing from the line of mean low tldo to the line of vegetation or their right of
<br />access thereto or right of easement along and across the same.
<br />(d) Defects, liens, encumbrances, adverse clalrns a~aI'nst the title as Insured or other matters (1) created, Buffered, assumed or
<br />agreed to b)" the .Assured at the date of this policy, or (2) known to the Assureel at the date of this pollcy unless disclosure thereof in
<br />writing b)" the Assured shall have been made to the Company prior to the dute of this policy; or loss or damage which would not have been
<br />Sllstained If the ~\ssured were a purchuser for value without knowledge; or the homestead or community property or Burrh'orshlp rights,
<br />If uny, of an)" Bpouse of any Assured.
<br />3. Defense of Actions
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<br />(a) In all cases where this polley proyldes for the defense of auy action or proceedings, the Assured shall Becure to the Company the
<br />right 'to BO provide defense in such action or proceedlngl!: anll all appeals therein, and peon It It to use, at. its option, the name of the
<br />Assured for such llUrlJOSe. "Vhenever, requested by the \,;ompany, the- Assured shall give the Company all reasonable aid In a.ny such
<br />action or lJroceedlng, in effecting. settlement,. BecurIng evIdence, obtaining .wltnesses, or aefendlng'such action or proceeding. ~. )
<br />(b) The Company shall have the right to Belect counsel of its 9wn choice ,whenever it is .J'equlreci to defend any Sl,Ilt or proceed!ng
<br />and' Buch counsel shall have full control: of said defenBe. " '. " ...,. '. .. .' ' -
<br />. (c) Any action taken by the Company for the defense of the ABsured or to establish the title as fnsured, or both, sball not.be con-
<br />struellaBan admission ot llablllty' and the Company shall not' thereby' be held to concede llablllty or waive a'Dy prov18lon of this polley.
<br />4. .- Payment of LosB: " .:: " .' .. . ~ . . '. . . ~ . ", :., : ," : '
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<br />. (a) No cliltm shali ariBe or be Dialntainable under this .poll.cy for lIsblllty,voluntarlly assumed. hy th& ABBured in Bettllng any claim
<br />or Bult wIthout wrItte~ 'conse~t ~f the Company. , . . ." . '.) ,
<br />,(b) All. payments under .this pOlicy, except paymentB maae tor costs. attorney fees and expenses, shall ~educe the amount of the- In-
<br />surance pro tanto; and the amount of this policy shall be reduced by any amount tbe Company may pay under any policy insuring the
<br />Talllllty or priority of any lien cxcepted to herein or any Instrument bercafter executed by the Assured which IB a charge or lien on the
<br />land and the amouut BO paid shall be deemed a payment to the ABsured under this pollcy.
<br />(c) The Company Bhall have the option to payor Bettle or compromise for or In the name of the Assured any claim insured against
<br />by this policy and such payment or tender of payment. tOj:ether with all costB, attorneys' fees and expenses which the Company is obll-
<br />gated bereuuder to pay, Bhall tel'mlnate all liability of the Company hereunder aB to such claim. l!'urther, the payment or tender of pay-
<br />ment of the full nmount of thlB policy by the Company sball terminate all llablllty of the Company under this policy.
<br />(dr Whenever the Company Bhall have settled a claim under this policy, all right of subrogation shall Test in the Company lInDt-
<br />feeted by any BCt of the Assured and It shall be subrogatell to and be entitled to aU rights and remedies of the Assured against any
<br />,person or property In respect to Buch claim. The ASBureel, If requeBted by the Company, shall transfer to the Company all rights and
<br />remedies altalnst any per&On or property neccesary In order to perfect Buch right of subrogation, and Bhall permit the CompBJJy to use
<br />the name of tbe ABsured in any tranBactlon or litigation involving such rlghtB or remedies. . . .
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<br />r;. Policy Entire Contract
<br />Any action or actions or rights of action that the ASBured may have or may brln;: agalnBt the Company arising out of the Btatus of
<br />the title InBured hereunaer must be based on the provisions of this policy, and all notices required to be given the Company BJJd BJJy Btate-
<br />ment In writing required to be furnished the Company shall be addressed to It at P. O. Box 202ll, Houston, Texas 'l700L
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<br />O. ThlB po~lcy is not tranBferable.
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<br />GENEBAL CONDITIONS AND STIPllLATJON8
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