1969 Edward W. Applebe & Dewey Walls-lots 1-14, 17-32,block 475, Warranty Deed

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-- . . ~~ 1, Definition of Terms The following terms when used In this policy meanl ' (a) "land", the land described, specifically or by reference, and Improvements affixed thereto which by law constitute real property; (b) "public records"I those records which Impart constructive notice of matters relating to said land; (c) "knowledge", actual knowledge, not constructive knowledge or notice which may be Imputed to the Assured by reason of any public reo- ords; and ' (d) "date". the effective date, Including hour If specified, 2. Exclusions from the Coveroge of this Policy This policy does not Insure against loss or damage by reason of the following. (0) The refusal of any person to purchase, lease or lend money on the land, (b) Governmental rights of police power or eminent domain unless notice of the exercise of such rights appears In thlt public records at the date hereof; and the consequences of any law, ordinance or governmental regulation including, but not limited to building and zoning ordinances. (c) Any titles or rights asserted by anyone, including but not limited to persons, corporations, governments or other entities to tidelands, or lands comprising the shores or beds of navigable or perennial rivers and streams, lakes, bays, gulfs or oceans, or to any land extending from the line of mean low tide to the line of vegetation, or to lands beyond the line of the harbor or bulkhead lines as established or changed by any gov- ernment, or to filled In lands or artificial islands or to riparian rights, or the rights or interests of the State of Texas or the public generally in the area extending from the line of mean low tide to the line of vegetation or their right of access thereto or right of easement along and aaoss the same; (d) Defects, liens, encumbrances, adverse claims against the title as Insured or other matters (1) aeated, suffered, assumed or agreed to by the Assured at the date of this policy, or (2) known to the Assured at the date of this policy unless disclosure thereof In writing by the Assured shall have been made to the Company prior to the date of this policy; or loss or damage which would not have been sustained If the Assured were a purchaser for value without knawledge, or the homestead or community property or ,survivorship rights, if any, of any spouse of any Assured, 3. Defense of Actions - . (a) In all coses where this policy provides for the c:!efense,of any action or proceedings, the, Assured shall secure to'the Company, the right to sO provide defense In such action or proceedings; and all appeals therein, and permit it to use, at Its option, the name of the Assured for such purpose, Whenever requested by the Company, the Assured shall give the Company all reasonable aid In any such action or proceeding, In effecting settle- ment, securing evidence, obtaining witnesses, or defending such action or proceeding, (b) The Company shall have the right to select counsel of its own choice whenever it Is required to defend any suit or proceedl"g and such counsel shall have full control of said defense. ' " '. .' , (c) Any action taken by the Company for the ~efense of the Assured or ,to establls~ the title as Insured, or both, shall not be construed as an admission of liability and the Company mall nO! ~h~reby ~e held, t~ concede liability or v.:aive a1\Y provision ~f ~his policy, 4. Payment of Loss ' " , (a) No claim shall arise or be maintainable under this policy for liability voluntarily Ossumed by the Assured In settling any claim or suit with- out written consent of the Company, '" (b) All payments unaer 'this policy, except paym!lnts ma~e for Costs, attorney flies al)d expel!ses, sh!J1I redu~ the. a!l'lo!lnt of the, JnSUl:<lnce- pro tanto; and the~mount of this ,policy shall be reduced by any amQunt the Company-.may pay un!=ier' any, Pillis:y insuring the vcilidi~ or priority of any lien' exceptecl to herein or oily Instrument hereafter executed by the' Assured whith. is a charge or lien on .the land Gnd .the' amount so ,paid shall be deemed a payment'to the Assure'd ulJder this policy, ' , ,- -, , .. . , .;. , . ," . -, ,:' ~ "-. ,', - . (c) . 'f!1e Compal]y.shall have the option to Ray or'settle or compromise for _or: 'n, tbe name, of't~e ~ssured any claim In~ured, !:Iga!nst .by this policy and 'sucli payment or'tenCler of payment; 'together' with' all costs; attorneys" fees 'and expenses which the Com'pany Is' obligated hereunder to pay, s~all termiilafe all.llai:iility of *e Company ,hereunder as to such claim.. Fur:ther,.the ,payment"or,~tender of "payment of'th~, full amount of this policy by the Comp.any"shall terminate all liability of the Co.mp.any unc;/er thi~ P'c?licy. , '.. .' . ,.,:.",". '.. ' , .', " (d) 'Whenever the Company shallliave settled a c1aini.under'this po'lity,'c:ilhightof subrogotlon'shall vest 'In ,the Com'pany,unaffected'by any act of the Assured and it shall be subrogated to and be entitled to, all rights and remedies of the Assured against any person or property in, respect to such claim. The Assured, if requested by the Company, shall transfer to the Company all rights and remedies against any person or property neo- essary in order to perfect such right of subrogation, and shall per",it the Company 'to use the name of the Assured in any tronsactian, or litigation involving such rights or remedies. - 5. Policy Entire Contract Any action or actions or rights of action that the Assured may .have or may bring, against the Company arising out of the status of the title in- sured hereunder must be based on the provisions of this policy, and all notices required to be given the Company and any statement In writing re- quired to be furnished the Company shall be addressed to it at p, p, Box 2029, Houston, Texas 77001, 6. This policy Is not transferable. 't GENERAL CONDITIONS AND STIPULATIONS . >.