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CONDITIONS (con't)
<br />DUTY OF INSURED CLAIMANT TO COOPERATE
<br />(a) In all cases where this policy permits or requires the Company
<br />to prosecute or provide for the defense of any action or proceeding
<br />and any appeals, the Insured shall secure to the Company the right
<br />to so prosecute or provide defense in the action or proceeding,
<br />including the right to use, at its option, the name of the Insured for
<br />this purpose. Whenever requested by the Company, the Insured,
<br />at the Company's expense, shall give the Company all reasonable
<br />aid (i) in securing evidence, obtaining witnesses, prosecuting or
<br />defending the action or proceeding, or effecting settlement, and
<br />(ii) in any other lawful act that in the opinion of the Company may
<br />be necessary or desirable to establish the Title or any other matter
<br />as insured. If the Company is prejudiced by the failure of the
<br />Insured to furnish the required cooperation, the Company's obligations
<br />to the Insured under the policy shall terminate, including any
<br />liability or obligation to defend, prosecute, or continue any litigation,
<br />with regard to the matter or matters requiring such cooperation.
<br />(b) The Company may reasonably require the Insured Claimant to
<br />submit to examination under oath by any authorized representative
<br />of the Company and to produce for examination, inspection, and
<br />copying, at such reasonable times and places as maybe designated
<br />by the authorized representative of the Company, all records, in
<br />whatever medium maintained, including books, ledgers, checks,
<br />memoranda, correspondence, reports, e-mails, disks, tapes, and
<br />videos whether bearing a date before or after Date of Policy, that
<br />reasonably pertain to the loss or damage. Further, if requested by
<br />any authorized representative of the Company, the Insured Claimant
<br />shall grant its permission, in writing, for any authorized representative
<br />of the Company to examine, inspect, and copy all of these records
<br />in the custody or control of a third party that reasonably pertain to
<br />the loss or damage. All information designated as confidential by
<br />the Insured Claimant provided to the Company pursuant to this
<br />Section shall not be disclosed to others unless, in the reasonable
<br />judgment of the Company, it is necessary in the administration of
<br />the claim. Failure of the Insured Claimant to submit for examination
<br />under oath, produce any reasonably requested information, or
<br />grant permission to secure reasonably necessary information from
<br />third parties as required in this subsection, unless prohibited by
<br />law or governmental regulation, shall terminate any liability of the
<br />Company under this policy as to that claim.
<br />7. OPTIONS TO PAY OR OTHERWISE SETTLE CLAIMS;
<br />TERMINATION OF LIABILITY
<br />In case of a claim under this policy, the Company shall have the
<br />following additional options:
<br />(a) To Pay or Tender Payment of the Amount of Insurance.
<br />To pay or tender payment of the Amount of Insurance under this
<br />policy together with any costs, attorneys' fees, and expenses
<br />incurred by the Insured Claimant that were authorized by the
<br />Company up to the time of payment or tender of payment and that
<br />the Company is obligated to pay.
<br />Upon the exercise by the Company of this option, all liability and
<br />obligations of the Company to the Insured under this policy, other
<br />than to make the payment required in this subsection, shall terminate
<br />including any liability or obligation to defend, prosecute, or contin-
<br />ue any litigation.
<br />(b) To Pay or Otherwise Settle With Parties Other Than the Insured
<br />or With the Insured Claimant.
<br />(i) to pay or otherwise settle with other parties for or in the
<br />name of an Insured Claimant any claim insured against under this
<br />ORT Form 4309 FL
<br />ALTA Owners Policy of Title Insurance 6-17-06 (with Florida Modifications)
<br />A TRUE COPY
<br />CERTIFICATION OIN LAST PAGE
<br />J.K. Cf."Ti. N, CLERK
<br />policy. In addition, the Company will pay any costs, attorneys' fees,
<br />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
<br />obligated to pay; or
<br />(ii) to pay or otherwise settle with the Insured Claimant the loss or
<br />damage provided for under this policy, together with any costs,
<br />attorneys' fees, and expenses incurred by the Insured Claimant that
<br />were authorized by the Company up to the time of payment and that
<br />the Company is obligated to pay.
<br />Upon the exercise by the Company of either of the options provided
<br />for in subsections (b)(i) or (ii), the Company's obligations to the
<br />Insured under this policy for the claimed loss or damage, other than
<br />the payments required to be made, shall terminate, including any
<br />liability or obligation to defend, prosecute, or continue any
<br />litigation.
<br />8. DETERMINATION AND EXTENT OF LIABILITY
<br />This policy is a contract of indemnity against actual monetary loss or
<br />damage sustained or incurred by the Insured Claimant who has suffered
<br />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
<br />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
<br />value of the Title subject to the risk insured against by this policy.
<br />(b) If the Company pursues its rights under Section 5 of these
<br />Conditions and is unsuccessful in establishing the Title, 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
<br />damage determined either as of the date the claim was made by
<br />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
<br />will also pay those costs, attorneys' fees, and expenses incurred in
<br />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
<br />defect, lien, or encumbrance, or cures the lack of a right of access
<br />to or from the Land, or cures the claim of Unmarketable Title, all as
<br />insured, in a reasonably diligent manner by any method, including
<br />litigation and the completion of any appeals, it shall have fully
<br />performed its obligations with respect to that matter and shall not
<br />be liable for any loss or damage caused to the Insured.
<br />(b) In the event of any litigation, including litigation by the Company
<br />or with the Company's consent, the Company shall have no liability
<br />for loss or damage until there has been a final determination by a
<br />court of competent jurisdiction, and disposition of all appeals,
<br />adverse to the Title, as insured.
<br />(c) The Company shall not be liable for loss or damage to the
<br />Insured for liability voluntarily assumed by the Insured in settling
<br />any claim or suit without the prior written consent of the Company.
<br />10. REDUCTION OF INSURANCE; REDUCTION OR TERMINATION
<br />OF LIABILITY
<br />All payments under this policy, except payments made for costs,
<br />attorneys' fees, and expenses, shall reduce the Amount of Insurance
<br />by the amount of the payment.
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