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<br />CONDmONS AND STlPULA110NS -ContInllld
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<br />11. UABIUTY NONCUMULATIVE.
<br />It 18 expl88Sly understood that the amount of insurance under this Policy shall be reduced by any amounl the Company may pay under any policy Insuring a mortgage to which
<br />exception is taken in Schedule B or to which the insured has agreed, assumed, or taken subject, or which is hereaftar executed by an insured and which is a charge or lien on
<br />the esta~ or inta~ described or referred to In Schedule A, and the amount so paid shall be deemed a payme~t under this policy to the Insured owner,
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<br />12. PAYMENT OF LOss.
<br />(a) No payment shall be made without producing this policy lcir endorsemant 01 the payment unless the policy has been lost or destroyed, In which case prool 01 loss or
<br />destruction shall be fumished to the salislaction of the Company. . ,
<br />(b) When liability and the extent 01 loss or damage has been definitely fixed in accordance,wilh these Conditions and Stipulations, the loss or damage shall be payable within 30
<br />days thereaftar, .
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<br />13. SUBROGAnQN UPON PAYMENT OR SmLEMENT.
<br />(a) T1le Company's Right of Subrogatlori: ,
<br />Whenever the Company shall have sallied and paid a claim under this policy, all right of subrogation shall vest in the CompanY unaffected by any act 01 thi insured claimant.
<br />The Company shall be subr!lllated to and be entiUed to all rights and remedies that the insured. claimant would have had against any person or property in respect to the
<br />claim had this policy not been Issued. If requestadby the Cof(lllany,the insured claimant shalltransler to the Company all rights and remedies against any person or property
<br />necessary in order to perfect this right 01 subrogation. The insured claimant shall permit the Company to sue, compromise or sallie in the name 01 the insured claimant and to
<br />usa the name of the insured claimant in any transaction or litigation involving these rights or remedies.
<br />II a payment on.account 01 a claim does not fully cover the loss 01 the insured claimant, the Company shall be subrogated to.these rights and remedies in the proportion
<br />thatlhe Company's payment bears to the whole amount of the loss, .
<br />II loss should resulllrom any act 01 the insured claimant, as stated above, that act shal! not wid this policy, buttha Compeny, in that event, shall be required to pay only
<br />that part 01 any Iossas insured against by this policy that shall exceed the amount, II any, Ibst to the Company by reason 01 the impairment by the insured claimant of the
<br />Company's right of subrogation.
<br />(b) The Company's Rights Against Non-Insured Obligore.
<br />The Company's right 01 subrogation against non-insured obligors shall exist and shall.include, without limitation, the rights 01 the insured to indemnitias, guarantias, other
<br />policies 01 Insurance or bonds, notwithstanding any terms or conditionS contained in those instruments that provide lor subrogallon rights by reason 01 this policy,
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<br />14. ARBlTRAnON.
<br />Unless prohibited by applicable law or unless this arbitration saction is deleted by specifIC provision in Schedule B 01 this policy, either the company or the insured may demand
<br />arbitration pursuant to.the nle Insurance Arbitration Rules 01 the American Arbitration Association, Arbitrable matters may include, but are not limited to, any controversy or claim
<br />between the Company and the Insured arising out of or relating to this pOlicy, any service 01 the Company in connection with its issuance or the breach 01 a policy provision or other
<br />. - '-obllgatlOn. All arbitrable mailerS when' the Aniouril'ol Insurance'is.$1;OOO;000 or less'SHALL BE arbitrated at the request 01 either the Company or the Insured, unless the insured
<br />is an individual person (as distinguished lrom a corporation, trust, partnership, association or other legal entity), All arbitrable mailers when the Amount 01 Insurance is in excess of
<br />$1,000,000 shall be arbitrated only when agreed to by both the Company and the Insured; Arbitration pursuant to this policy lInd under the Rules In effect on the date the demand
<br />lor arbitration is made or, at the option 01 the insured, the Rules in effect at Date 01 Policy shall be binding upon the parties. The award may include allorneys' leas only lithe laws
<br />of the state in which the land is locatad permit a court to award allomeys' leas to a.prevailing party.. Judgment upon the award rendered by the Arbitrator(s) may be entered in any
<br />court having jurisdiction thereof,
<br />The law 01 the situs 01 the land shall apply to an arbitratiOn under the Tille Insurance Arbitration Rules,
<br />A copy of the Rules may be obtained from the Company upon request.
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<br />15. UABILITY UMITED TO THIS POUCY: POUCY ENTIRE CONTRACT.
<br />(a) This policy together with an endorsements, if any, attached hereto by the Company is the entire policy. and contract between the insured and the Company, In interpreting any
<br />.provision oi this policy, this policy shall be construed as a whole,
<br />(b) Any claim 01 loss or demage, whether or not based on negligence, and which arise out 01 the status of the tiUe to the estate or interest covered hereby or by any action
<br />asserting such claim, shall be restricted to this policy, , ,
<br />(c) No amendment 01 or endorsement to this policy. can be made except by a writing endorsed hereon I1r attached hereto signed by either the President, a Vice President, the
<br />Secretary, and Assistant Secretary, or validating officer or authorized signatory 01 the Company,
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<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 provisions shall
<br />remain in fulllorce and effect, .
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<br />17. NOnCES, WHERE SENT.
<br />All notices required to be given the Company and any statement in writing required to be lumlshed the Company shall Include the number 01 this policy and shall be addressed to
<br />the Company at 613 N,W, Loop 410, Suite 100, San Antonio, Texas 78216, '. .
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<br />COMPLAINT NOnCE. .
<br />Should any dllpute sri.. sbout your premium or etJout s clslm lhet you hsve IlIed, contact the egent or write to theCompeny that IBlued the policy. If lIle problem Is
<br />not 1'I8OIved, you el80 mey write lIle TIllSI Depertment of Insurence, P.O. Box 149091, Austin, TX 78714-1091, Fill No. (512) 475-1m. This notice of complslnt proceclure Is
<br />to; InIormetlon only end does not become s pert or condition of IIlls policy. :. ,. " ' .
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