American Land Title Association Owner's Policy of Title Insurance
<br /> (07-01-2021)
<br /> VVESTCOR with Florida
<br /> modifications
<br /> 4. PROOF OF LOSS
<br /> The Company may, at its option,require as a condition of payment that the Insured Claimant furnish a signed
<br /> proof of loss. The proof of loss must describe the defect, lien, encumbrance, adverse claim, or other matter
<br /> insured against by this policy that constitutes the basis of loss or damage and must state, to the extent
<br /> possible, the basis of calculating the amount of the loss or damage.
<br /> 5. DEFENSE AND PROSECUTION OF ACTIONS
<br /> a. Upon written request by the Insured and subject to the options contained in Condition 7, the Company,
<br /> at its own cost and without unreasonable delay, will provide for the defense of an Insured in litigation in
<br /> which any third party asserts a claim covered by this policy adverse to the Insured. This obligation is
<br /> limited to only those stated causes of action alleging matters insured against by this policy. The
<br /> Company has the right to select counsel of its choice (subject to the right of the Insured to object for
<br /> reasonable cause)to represent the Insured as to those covered causes of action. The Company is not
<br /> liable for and will not pay the fees of any other counsel. The Company will not pay any fees, costs, or
<br /> expenses incurred by the Insured in the defense of any cause of action that alleges matters not insured
<br /> against by this policy.
<br /> b. The Company has the right, in addition to the options contained in Condition 7, at its own cost, to
<br /> institute and prosecute any action or proceeding or to do any other act that, in its opinion, may be
<br /> necessary or desirable to establish the Title, as insured, or to prevent or reduce loss or damage to the
<br /> Insured. The Company may take any appropriate action under the terms of this policy, whether or not
<br /> it is liable to the Insured. The Company's exercise of these rights is not an admission of liability or
<br /> waiver of any provision of this policy. If the Company exercises its rights under Condition 5.b., it must
<br /> do so diligently.
<br /> c. When the Company brings an action or asserts a defense as required or permitted by this policy, the
<br /> Company may pursue the litigation to a final determination by a court having jurisdiction.The Company
<br /> reserves the right, in its sole discretion, to appeal any adverse judgment or order.
<br /> 6. DUTY OF INSURED CLAIMANT TO COOPERATE
<br /> a. When this policy permits or requires the Company to prosecute or provide for the defense of any action
<br /> or proceeding and any appeals,the Insured will secure to the Company the right to prosecute or provide
<br /> defense in the action or proceeding, including the right to use, at its option, the name of the Insured for
<br /> this purpose.
<br /> When requested by the Company, the Insured, at the Company's expense, must give the Company all
<br /> reasonable aid in:
<br /> i. securing evidence, obtaining witnesses, prosecuting or defending the action or proceeding, or
<br /> effecting settlement; and
<br /> ii. any other lawful act that in the opinion of the Company may be necessary or desirable to establish
<br /> the Title or any other matter, as insured.
<br /> If the Company is prejudiced by any failure of the Insured to furnish the required cooperation, the
<br /> Company's liability and obligations to the Insured under this policy terminate, including any obligation
<br /> to defend, prosecute, or continue any litigation, regarding the matter requiring such cooperation.
<br /> b. The Company may reasonably require the Insured Claimant to submit to examination under oath by
<br /> any authorized representative of the Company and to produce for examination,inspection,and copying,
<br /> 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,
<br /> correspondence, reports, e-mails, disks, tapes, and videos, whether bearing a date before or after the
<br /> 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 must grant its permission, in writing, for any
<br /> authorized representative of the Company to examine, inspect, and copy all the records in the custody
<br /> Copyright 2021 American Land Title Association.All rights reserved.
<br /> The use of this Form(or any derivative thereof)is restricted to ALTA licensees and
<br /> ALTA members in good standing as of the date of use.All other uses are prohibited. tJ
<br /> Reprinted under license from the American Land Title Association.
<br /> OP-61 FL ALTA 07-01-2021 Owner's Policy of Title Insurance(FLORIDA)(ALTA 7-01-2021) (WLTIC Edition 8/12/2022)
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