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CONDITIONS (con 't)
<br /> Upon the exercise by the Company of this option , all liability and obligations of the Company to the Insured under this
<br /> policy , other than to make the payment required in this subsection , shall terminate , including any liability or obligation
<br /> to defend , prosecute , or continue any litigation .
<br /> ( b) To Pay or Otherwise Settle With Parties Other Than the Insured or With the Insured Claimant.
<br /> ( i) to pay or otherwise settle with other parties for or in the name of an Insured Claimant any claim insured
<br /> against under this policy . In addition , the Company will pay any costs , attorneys' fees , and expenses incurred
<br /> by the Insured Claimant that were authorized by the Company up to the time of payment and that the
<br /> Company is obligated to pay ; or
<br /> ( ii) to pay or otherwise settle with the Insured Claimant the loss or damage provided for under this policy ,
<br /> together with any costs , attorneys' fees , and expenses incurred by the Insured Claimant that were authorized
<br /> by the Company up to the time of payment and that the Company is obligated to pay .
<br /> Upon the exercise by the Company of either of the options provided for in subsections ( b) ( i) or ( ii) , the Company' s
<br /> obligations to the Insured under this policy for the claimed loss or damage , other than the payments required to be
<br /> made , shall terminate , including any liability or obligation to defend , prosecute , or continue any litigation .
<br /> 8 . DETERMINATION AND EXTENT OF LIABILITY
<br /> This policy is a contract of indemnity against actual monetary loss or damage sustained or incurred by the Insured
<br /> Claimant who has suffered loss or damage by reason of matters insured against by this policy .
<br /> (a ) The extent of liability of the Company for loss or damage under this policy shall not exceed the lesser of
<br /> ( i ) the Amount of Insurance ; or
<br /> (ii) the difference between the value of the Title as insured and the value of the Title subject to the risk insured
<br /> against by this policy .
<br /> ( b) If the Company pursues its rights under Section 5 of these Conditions and is unsuccessful in establishing the Title
<br />,
<br /> as insured ,
<br /> (i ) the Amount of Insurance shall be increased by 10 % , and
<br /> ( ii) the Insured Claimant shall have the right to have the loss or damage determined either as of the date the
<br /> claim was made by the Insured Claimant or as of the date it is settled and paid .
<br /> (c) In addition to the extent of liability under (a) and ( b) , the Company will also pay those costs , attorneys' fees
<br />, and
<br /> expenses incurred in accordance with Sections 5 and 7 of these Conditions .
<br /> 9 , LIMITATION OF LIABILITY
<br /> (a) If the Company establishes the Title , or removes the alleged defect , lien , or encumbrance , or cures the lack of a
<br /> right of access to or from the Land , or cures the claim of Unmarketable Title , all as insured , in a reasonably
<br /> diligent manner by any method , including litigation and the completion of any appeals , it shall have fully performed
<br /> its obligations with respect to that matter and shall not be liable for any loss or damage caused to the Insured .
<br /> (b) In the event of any litigation , including litigation by the Company or with the Company's consent , the Company
<br /> shall have no liability for loss or damage until there has been a final determination by a court of competent
<br /> jurisdiction , and disposition of all appeals , adverse to the Title , as insured .
<br /> (c) The Company shall not be liable for loss or damage to the Insured for liability voluntarily assumed by the Insured
<br /> in settling any claim or suit without the prior written consent of the Company .
<br /> 10 . REDUCTION OF INSURANCE ; REDUCTION OR TERMINATION OF LIABILITY
<br /> All payments under this policy , except payments made for costs , attorneys' fees , and expenses , shall reduce the
<br /> Amount of Insurance by the amount of the payment.
<br /> 11 . LIABILITY NONCUMULATIVE
<br /> The Amount of Insurance shall be reduced by any amount the Company pays 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
<br /> executed by an Insured after Date of Policy and which is a charge or lien on the Title , and the amount so paid
<br /> shall be
<br /> deemed a payment to the Insured under this policy .
<br /> 12 . PAYMENT OF LOSS
<br /> When liability and the extent of loss or damage have been definitely fixed in accordance with these Conditions , the
<br /> payment shall be made within 30 days .
<br /> 13 . RIGHTS OF RECOVERY UPON PAYMENT OR SETTLEMENT
<br /> (a ) Whenever the Company shall have settled and paid a claim under this policy , it shall be subrogated and entitled
<br />to
<br /> the rights of the Insured Claimant in the Title and all other rights and remedies in respect to the claim that the
<br /> Insured Claimant has against any person or property , to the extent of the amount of any loss , costs , attorneys '
<br /> fees , and expenses paid by the Company . If requested by the Company , the Insured Claimant shall execute
<br /> TRGC Form No. : 6709 Page 5
<br /> ALTA Owner's Policy of Title Insurance & 17-06 (with Florida Modifications)
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