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<br />,. PIONEER NAnONAl
<br />TITlE INSURANce
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<br />A nCOR COMPANY
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<br />.Owners POlicy of Title Insurance
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<br />PIONEER NATIONAL TITLE IN'SURANCE COMPANY, a California corporation, hereinafter called the Company, for value
<br />does hereby guarantee to the herein named Insured, the heirs, devisees, executors and administrators of the Insured, or
<br />if a corporation, its successors by dissolution, merger or consol idation, that as of the date hereof, the Insured has good
<br />and indefeasible title to the estate or interest in the land described or referred to in this policy.
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<br />The Company shall not be I iable in a greater amou,nt than the actual monetary loss of the Insured, and in no event shall
<br />the Company be liable for more than the amount shown in Schedule A hereof, and shall, except as hereinafter stated, at
<br />its own cost defend the Insured in every action or proceeding on any claim against, or right to the estate or i'nterest in
<br />the land, or any part thereof, adverse to the title to the estate or interest in the lantl as hereby guaranteed, but the Com-
<br />pany shall' riot be required to defend against any claims based upon matters in any ma,nner excepted under this policy by
<br />the exceptions in Schedule B hereof or excluded by Paragraph 2, "Exclusions from Coverage of this Policy", of the Con-
<br />ditions and Stipulations hereof. The party or parties entitled to such defense shall within a reasonable time after the
<br />commencement of such action or proceeding, and in ample time for defense therein, give the Company written notice of
<br />the pendency of the action or proceeding, and authority to defend. The Company shall not be,Jjable until such adverse
<br />interest, claim, or right shall have been held valid by a court of last resort to which either litigant may appfy, and if
<br />such adverse interest, claim, or right so established shall be for less than the whole of the estate or interest in the land,
<br />then the liability of the Company shall be only such part of the whole liability limited above as shall bear the same ratio
<br />to the whole I iability that the adverse interest, claim, or right established may bear to the whole estate or interest in the
<br />land, such ratio to be based on respective values detenninable as of the date of this policy, In the absence of notice as
<br />aforesaid, the Company is relieved from all liability with respect to any such interest, claim or right; provided, however,
<br />that failure to notify shall not prejudice the rights of the Insured if such Insured shall hot be a party to such action or
<br />proceeding, nor be served with process therein, nor have any knowledge thereof, nor in any case, unless the Company
<br />shall be actually prejudiced by such fai lure, '
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<br />Upon 'sale of the estate or interest in the land, this policy automatically thereupon shall become a warrantor's policy and
<br />the Insured, the heirs, devisees, executors and administrators of the Insured, or if a corporation, its successors by dis-
<br />solution, merger or consolidation. shall for a period of twenty-five years from date hereof remain fully protected according
<br />to the teRnS hereof, by reason of the payment of an.y loss he, they or it may sustain on account'of any warranty of title
<br />contained in the transfer or conveyance executed by the Insured conveying the estate or interest in the land. The Com-
<br />pany shall be liable under said warranty only be reason of defects, liens or encumbrances existing prior to or'at,the date
<br />hereof and not excluded either by the exceptions or by the Conditions and Stipulations hereof, such liabi lity not to exceed
<br />the amount of this policy.
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<br />This policy shall not be valid or binding until, countersigned below by a validating officer of the Company.
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<br />Pioneer NationaF'TUie"lnsurance Company
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<br />by&m'<~~&"'~l~ ~
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<br />Attest :.~~ ~ <">0,'" _0>'" >....f
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<br />" \x- ,-.,,-.:-$,'"'' Secretary
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<br />AMERICAN TITLE COMPANY
<br />301 Esperson Bldg., Houston, Texas 77002
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<br />ValidatinfJ Signatory
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<br />TO 1459 PNTI TX (3-75) T-l Owners Title Insurance Policy-Form Prescribed by the Texas Board of Insurance-Rev. 10-70.
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