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computed and settled on a pro rata basis as if the amount of If a payment on account of a claire does not fully cover the
<br /> loss
<br /> insurance under this policy was divided pro rata as to the value on of the insured claimant, the Company shall be subrogated to
<br /> these
<br /> Date of Policy of each separate parcel to the whole , exclusive of any rights and remedies in the proportion which the Company' s
<br /> payment
<br /> improvements made subsequent to Date of Policy, unless a liability or bears to the whole amount of the loss .
<br /> value has otherwise been agreed upon as to each parcel by the
<br /> otic If loss should result from any act of the insured claimant, as
<br /> Company and the insured at the time of the issuance of this
<br /> policy stated above , that act shall not void this policy, hut the Company, in
<br /> and shown by an express statement or by an endorsement attached
<br /> to this policy . that event, shall be required to pay only that part of any losses
<br /> insured against by this 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 claimant
<br /> (a) If the Company establishes the title , or removes the alleged 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 />.
<br /> or from the land , or cures the claim of unmarketability of title , all as The Company' s right of subrogation against non - insured
<br /> obligors
<br /> insured , in a reasonably diligent manner by any method , including shall exist and shall include , without limitation , the rights
<br />of the insured
<br /> litigation and the completion of any appeals therefrom , it shall have to indemnities , guaranties , other policies of insurance or bonds
<br />,
<br /> fully performed its obligations with respect to that matter and shall notwithstanding any terms or conditions contained in those instruments
<br /> not be liable for any loss or damage caused thereby. which provide for subrogation rights by reason of this policy .
<br /> ( h ) In the event of any litigation , including litigation by the 74. Arbitration.
<br /> Company or with the Company ' s consent, the Company shall have no
<br /> liability for loss or damage until there has been a final determination Unless prohibited by applicable law, arbitration pursuant to
<br /> the Title Insurance Arbitration Rules of the American Arbitration
<br /> by a court of competent jurisdiction , and disposition of all appeals Association may be demanded if agreed to by both the 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 he liable for loss or damage to any limited to, any controversy or claim between the Company and
<br /> insured for liability voluntarily assumed by the insured in settling any the insured arising out of or relating to this policy, any service
<br /> of
<br /> claim or suit without the prior written consent of the Company. the Company in connection with its issuance or the breach of a
<br /> Policy
<br /> ision or
<br /> her
<br /> 70. Reduction of /nsurancesuant to thi
<br /> , Reduction or Termination of Liability. policy and under the tRul sobligation .
<br /> effect n the date tation he erdemand for
<br /> All payments under this policy , except payments made for costs , arbitration is made or, at the option of the insured, the Rules
<br />in
<br /> attorneys ' fees and expenses , shall reduce the amount of the effect at Date of Policy shall be binding upon the parties.
<br />The
<br /> insurance pro tanto , award may include attorneys ' fees only if the laws of the state in
<br /> 71 . Liability Na -cumulative.
<br /> which the land is located permit a court to award attorneys ' fees
<br /> It is expressly understood that the amount of insurance under to a prevailing party. Judgment upon the award rendered by the
<br /> he Company ma Arbitrator( s ) may be entered in any court having jurisdiction
<br /> this policy shall be reduced by any amount t
<br /> P Y Y pay thereof.
<br /> under any policy insuring a mortgage to which exception is taken in The law of the situs of the land shall apply to an
<br /> Schedule B or to which the insurer) has agreed , assumed , or taken arbitration under the Title Insurance Arbitration Rules .
<br /> subject, or which is hereafter executed by an insured and which is a A copy
<br /> charge or lien on the estate or interest described or referred to in upon request. f the Rules may be obtained from the Company
<br /> Schedule A , and the amount so paid shall be deemed a payment
<br /> under this policy to the insured owner. 15 Liability Limited to this Policy; Policy Entire Contract.
<br /> (a ) This policy together with all endorsements , if any, attached
<br /> 12. Payment of Loss. hereto by the Company is the entire policy and contract between the
<br /> ( a ) No payment shall be made without producing this policy insured and the Company. In interpreting any provision of this policy,
<br /> for endorsement of the payment unless the policy has been lost or this policy shall be Construed as a whole .
<br /> destroyed , in which case proof of loss or destruction shall be ( b ) Any claim of loss or damage , whether or not based on
<br /> furnished to the satisfaction of the Company. negligence , and which arises out of the sl.atus of the title to the
<br /> ( b) When liability and the extent of Toss or damage has been estate or interest covered hereby or by any action asserting such
<br /> definitely fixed in accordance with these Conditions and Stipulations , claim , shall be restricted to this policy.
<br /> the loss or damage shall be payable within 30 days thereafter. ( 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 /> 13. Subrogation Upon Payment or Settlement. the President, a Vice President, the Secretary, an Assistant Secretary , or
<br /> ( a ) The Company ' s Right of Subrogation . Validating Officer or Authorized Signatory of the Company.
<br /> Whenever the Company shall have settled and paid a claim
<br /> under this policy, all right of subrogation shall vest in the Company 16. Severability.
<br /> unaffected by any act of the insured claimant. In the event any provision of the policy is held invalid or
<br /> The Company shall be subrogated to and be entitled to all unenforceable under the applicable law, the policy shall be deemed not to
<br /> rights and remedies which the insured claimant would have had include that provision and all other provisions shall remain in
<br /> full
<br /> against any person or property in respect to the claim had this policy force and effect.
<br /> not been issued . If requested by the Company, the insured claimant
<br /> shall transfer to the Company all rights and remedies against any 1 �. Notices, Where Sent.
<br /> person or property necessary in order to perfect this right of All notices required to be given the Company and any statement
<br /> in
<br /> subrogation . The insured claimant shall permit the Company to sue , writing required to be furnished the Company shall include the number
<br /> of
<br /> compromise or settle re the name of the insured claimant and to use this policy and shall be addressed to the Company at its home
<br /> office ,
<br /> 400 Second Avenue South , Minneapolis , Minnesota 55401 , ( 612 ) 371 1111 .
<br /> the name of the insured claimant in any transaction or litigation
<br /> involving these rights or remedies .
<br />
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