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