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computed and settled on a pro rata basis as if the amount of If a payment on account of a claim does not
<br /> fully cover the loss
<br /> insurance under this policy was divided pro rata as to the value on of the insured claimant, the Company shall be subrogated
<br /> to these
<br /> Date of Policy of each separate parcel to the whole, exclusive of any rights and remedies in the proportion which the
<br /> Company's payment
<br /> improvements made subsequent to Date of Policy, unless a liability or bears to thewhole amount of the loss .
<br /> value has otherwise been agreed upon as to each parcel by the If loss should result from any act of theinsured
<br /> claimant, as
<br /> Company and the insured at the time of the issuance of this policy stated above, that act shall not void this policy,
<br /> but the Company, in
<br /> and shown by an express statement or by an endorsement attached that event, shall be required to pay only that part
<br />of any losses
<br /> to this policy. insured against by the policy which shall exceed the amount, if any,
<br /> 9. Limitation of Liability. lost. to the Company by reason of the impairment by the insured
<br /> (a) If the Company establishes the title, or removes the alleged claimant of the Company's right of subrogation .
<br /> defect, lien or encumbrance, or cures the lack of a right of access to ( b) The Company's Rights Against Non- Insured Obligors
<br /> or from the land, or cures the claim of unmarketability of title, all as The Company's right of subrogation against
<br />non-insured obligors
<br /> insured, in a reasonably diligent manner by any method, including shall exist and shall include, without limitation, the
<br /> rights of the insured
<br /> litigation and the completion of any appeals therefromr, it shall have to indemnities, guaranties, other policies of insurance
<br /> or bonds,
<br /> fully performed its obligations with respect to that matter and shall notwithstanding any terms or conditions contained in those
<br /> instruments
<br /> not be liable for any loss or damage caused thereby. I I which provide for subrogation rights by reason of this
<br /> policy.
<br /> ( b ) In the event of any litigation , including litigation by the 14. Arbitration.
<br /> Company or with the Company's consent, the Company shall have no Unless prohibited by applicable law, arbitration pursuant to
<br /> liability for loss or damage until there has been a final determination the Title Insurance Arbitration Rules of the American
<br /> Arbitration
<br /> by a court of competent jurisdiction, and disposition of all appeals Association may be demanded if agreed to by both the
<br />Company
<br /> therefrom, adverse to the title as insured. and the insured. Arbitrable matters may include, but are not
<br /> (c) The Company shall not be liable for loss or damage to any limited to, any controversy or claim between the Company
<br /> and
<br /> insured for liability voluntarily assumed by the insured in settling any the insured arising out of or relating to this policy,
<br /> any service of
<br /> claim or suit without the prior written consent of the Company. the Company in connection with its issuance or the breach of
<br /> a
<br /> 10. Reduction of Insurance; Reduction or Termination of Liability. policy provision or other obligation. Arbitration pursuant to this
<br /> All payments under this policy, except payments made for costs, policy and under the Rules in effect on the date the demand
<br /> for
<br /> attorneys' fees and expenses , shall reduce the amount of the arbitration is made or, at the option of the insured, the Rules
<br /> in
<br /> insurance pro tanto . effect at Date of Policy shall be binding upon the parties. The
<br /> 11. Liability Non-cumulative. award may include attorneys fees only if the laws of the state in
<br /> It is expressly understood that the amount of insurance under which the land is located permit a court to award attorneys'
<br /> fees
<br /> this policy shall be reduced by any amount the Company may pay to a prevailing party. Judgment upon the award rendered by
<br /> the
<br /> under any policy insuring a mortgage to which exception is taken in Arbitrators) may be entered in any court having jurisdiction
<br /> Schedule B or to which the insured has agreed, assumed, . or taken thereof.
<br /> subject, or which is hereafter executed by an insured and which is a The law of the situs of the land shall apply
<br /> to an
<br /> charge or lien on the estate or interest described or referred to in arbitration under the Title Insurance Arbitration
<br /> Rules.
<br /> Schedule A, and the amount so paid shall be. deemed a payment A copy of the Rules may he obtained from the Company
<br /> under this policy to the insured owner. upon request.
<br /> 12. Payment of Loss. 15. Liabililty Limited to this Policy; Policy Entire Contract.
<br /> (a ) No payment shall be made without producing this policy (a ) This policy together with all endorsements , if any, attached
<br /> for endorsement of the payment unless the policy has been lost or hereto by the Company is the entire policy and contract
<br /> between the
<br /> destroyed , in which case proof of loss or destruction shall be insured and the Company. In interpreting any provision
<br /> of this policy,
<br /> furnished to the satisfaction of the Company. this policy shall be construed as a whole .
<br /> ( b) When liability and the extent of loss or damage has been (b ) Any claim of loss or damage, whether or
<br />not based on
<br /> definitely fixed in accordance with these Conditions and Stipulations, negligence, and which arises out of the status of the
<br /> title to the
<br /> the loss or damage shall be payable within 30 days thereafter estate or interest covered hereby or by any action asserting
<br /> such
<br /> 13. Subrogation Upon Payment or Settlement. claim, shall be restricted to this policy.
<br /> (a ) The Company's Right of Subrogation (c) No amendment of or endorsement to this policy can be made
<br /> except by a writing endorsed hereon or attached hereto signed by either
<br /> Whenever the Company shall have settled and paid a claim
<br /> the President, a Vice President, the Secretary, an Assistant Secretary, or
<br /> under this policy, all right of subrogation shall vest in the Company
<br /> validating officer or authorized signatory of the Company.
<br /> unaffected by any act of the insured claimant.
<br /> The Company shall be subrogated to and be entitled to all 16. Severability.
<br /> rights and remedies which the insured claimant would have had I . In the event any provision of the policy is held
<br /> invalid or
<br /> against any person or property in respect to the claim had this policy unenforceable under applicable law; the policy shall
<br />be deemed not to
<br /> not been issued. If requested by the Company, the insured claimant include that provision and all other provisions shall remain
<br /> in full
<br /> shall transfer to the Company all rights and remedies against any force and effect.
<br /> person or property necessary in order to perfect this right of 17. Notices, Where Sent.
<br /> subrogation . The insured claimant shall permit the Company to sue, All notices required to be given the Company and any statement
<br /> in
<br /> compromise or settle in the name of the insured claimant and to use writing required to be furnished the Company shall include
<br /> the number of
<br /> the name of the insured claimant in any transaction or litigation this policy and shall be addressed to the Company
<br /> at its home office,
<br /> involving these rights or remedies . 400 Second Avenue South, Minneapolis, Minnesota 55401 , (612 ) 371 - 1111 .
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