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(b) The Company may reasonably require the Insured Claimant to submit to examination under oath by any authorized representative of the Company and
<br />to produce for examination, inspection, and copying, at such reasonable times and places as may be designated by the authorized representative of the
<br />Company, all records, in whatever medium maintained, including books, ledgers, checks, memoranda, correspondence, reports, e-mails, disks, tapes,
<br />and videos whether bearing a date before or after Date of Policy, that reasonably pertain to the loss or damage. Further, if requested by any authorized
<br />representative of the Company, the Insured Claimant shall grant its permission, in writing, for any authorized representative of the Company to
<br />examine, inspect, and copy all of these records in the custody or control of a third party that reasonably pertain to the loss or damage. All information
<br />designated as confidential by the Insured Claimant provided to the Company pursuant to this Section shall not be disclosed to others unless, in the
<br />reasonable judgment of the Company, it is necessary in the administration of the claim. Failure of the Insured Claimant to submit for examination
<br />under oath, produce any reasonably requested information, or grant permission to secure reasonably necessary information from third parties as
<br />required in this subsection, unless prohibited by law or governmental regulation, shall terminate any liability of the Company under this policy as to
<br />that claim.
<br />7. OPTIONS TO PAY OR OTHERWISE SETTLE CLAIMS; TERMINATION OF LIABILITY
<br />In case of a claim under this policy, the Company shall have the 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 policy together with any costs, attorneys' fees, and expenses incurred by the Insured
<br />Claimant that were authorized by the Company up to the time of payment or tender of payment and that the Company is obligated to pay.
<br />Upon the exercise by the Company of this option, all liability and obligations of the Company to the Insured under this policy, other than to make the
<br />payment required in this subsection, shall terminate, including any liability or obligation 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 against under this policy. In addition, the
<br />Company will pay any costs, attorneys' fees, and expenses incurred by the Insured Claimant that were authorized by the Company up to the time of
<br />payment and that the 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, together with any costs, attorneys' fees, and
<br />expenses incurred by the Insured Claimant that were authorized by the Company up to the time of payment and that the Company is obligated to
<br />pay.
<br />Upon the exercise by the Company of either of the options provided for in subsections (b)(i) or (ii), the Company's obligations to the Insured under
<br />this policy for the claimed loss or damage, other than the payments required to be made, shall terminate, including any liability or obligation to
<br />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 Claimant who has suffered loss or
<br />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 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, 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 claim was made by the Insured Claimant
<br />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, and expenses incurred in accordance with
<br />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 right of access to or from the Land, or
<br />cures the claim of Unmarketable Title, all as insured, in a reasonably diligent manner by any method, including litigation and the completion of any
<br />appeals, it shall have fully performed 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 shall have no liability for loss or
<br />damage until there has been a final determination by a court of competent 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 in settling any claim or suit without
<br />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 Amount of Insurance by the amount of the
<br />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 which exception is taken in
<br />Schedule B or to which the Insured has agreed, assumed, or taken subject, or which is executed by an Insured after Date of Policy and which is a charge
<br />or lien on the Title, and the amount so paid shall be 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 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 to the rights of the Insured Claimant
<br />FORM OF6 (rev. 12/10) (With Florida Modifications) Page 4 of 5
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