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<br />CONDITIONS AND STIPULATIONS. Continued
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<br />11. LIABILITY NONCUMULATIVE.
<br />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
<br />which exception is taken in Schedule B or to which the insured has agreed, assumed, or taken subject, or which is hereafter executed by an insured and which is a charge
<br />or lien on the estate or interest described or referred to in Schedule A, and the amount so paid shall be deemed a payment under this policy to the insured owner.
<br />12. PAYMENT OF LOSS.
<br />(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
<br />destruction shall be fumished to the satisfaction of the Company.
<br />(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
<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 entiUed to all rights and remedies that the insured claimanl'would have had against any person or property in
<br />respect to the claim had this policy not been issued, If requested by the Company, the insured claimant shall transfer to the Company all rights and remedies
<br />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
<br />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,
<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 remedies in the
<br />proportion that 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
<br />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
<br />claimant 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 instruments that provide for subrogation rights by reason of this
<br />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 may
<br />demand arbitration pursuant to the TiUe Insurance Arbitration Rules of the American Arbitration Association, Arbitrable matters may include, but are not limited to, any
<br />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
<br />either the Company or the Insured, unless the insured is an individual person (as distinguished from a corpo~tion, trust, partne~hip, 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 at Date of Policy
<br />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 a court to award attomeys' fees to
<br />a prevailing party, Judgment upon the award rendered by the Arbitrator(s) may be entered in any court having jurisdiction thereof,
<br />The law of the situs of the land shall apply to an arbitration under the Titie Insurance Arbitration Rules.
<br />A copy of the Rules may be obtained from the Company upon request.
<br />15, LIABILITY LIMITED TO THIS POLICY: POLICY 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. In
<br />intarpreting any provision of this policy, this policy shall be construed as a whole.
<br />(b) Any claim of loss or damage, whether or not based on negligence, and which arise out of tha status of the titie to the estate or Interest covered hereby or by any
<br />action asserting such claim, shall be restricted to this policy.
<br />(c) No amendment of or endorsement to this policy cen be made except by a writing endorsed hereon or attached hereto signed by either the President, a Vice
<br />President, the Secretary, an Assistant Secretary, or validating ofllcer or authorized signatory of the Company. ,
<br />11, SEVERABILITY, .
<br />In the event any provision of the policy Is held Invalid or unenforceable under appllceble law, the policy shall be deemed not to Include that provision, and all other
<br />provisions shall remain In full force and effact.
<br />17, NOTICES, WHERE SENT,
<br />All notices required to be given the Compeny and any statement In writing required to be furnished the Company shall Include the number of this policy and shall be
<br />addressed to the Compeny at 10010 San Pedro, Sulta 800, San Antonio, Texas 78216.3895.
<br />COMP~NTNOTlCE '
<br />Should any dispute arise about your premium or about a claim that you have filed, contect the agent or write to the Company that Issued the policy, If the
<br />problem Is not resolved, you also may write the Texas Department of Insurance, P.O. Box 149091, Austin, TX 78714-9091, Fax No, (512) 475-1771. This notice of
<br />complaint procedure Is for Information only and does not become a part or condition of this policy.
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