Policy Of Title Insurance Template (Page 3 of 3) in pdf

company the mortgage or deed of trust and the indebtedness secured by it, and such payment shall terminate all

liability under this policy to such insured.

6. A statement in writing of any loss or damage for which it is claimed the company is liable under this policy shall

be furnished to the company within sixty days after such loss or damage shall have been ascertained. No action or

proceeding for the recovery of any such loss or damage shall be instituted or maintained against the company until

after full compliance by the insured with all the conditions imposed on the insured by this policy, nor unless

commenced within twelve months after receipt by the company of such written statement.

7. The company will pay, in addition to any loss insured against by this policy, all costs imposed upon the

insured in litigation carried on by the company for the insured, and in litigation carried on by the insured with the

written authorization of the company, but not otherwise. The liability of the company under this policy shall in no

case exceed, in all, the actual loss of the insured and costs which the company is obligated to pay under this policy,

and in no case shall such total liability exceed the amount of this policy and those costs. All payments under this

policy shall reduce the amount of the insurance pro tanto, and payment of loss or damage to an insured owner of

indebtedness shall reduce, to that extent, the liability of the company to the insured owner of the land. No payment

can be demanded by any insured without producing this policy for indorsement of such payment.

8. Loss under this policy shall be payable, first, to any insured owner of indebtedness secured by mortgage or

deed of trust shown in Schedule B, in order of priority there shown, and if such ownership vests in more than one,

payment shall be made ratably as their respective interests may appear, and after that, any loss shall be payable to

the other insured, and if more than one, then to such insured ratably as their respective interests may appear. If there

be no such insured owner of indebtedness, any loss shall be payable to the insured, and if more than one, to such

insured ratably as their respective interests may appear.

9. No provision or condition of this policy can be waived or changed except by writing indorsed on or attached to

this policy and signed by the President, a Vice-President, the Secretary, or an Assistant Secretary of the company.

In witness, _________ Title Insurance Co. has caused its corporate name and seal to be here affixed by its duly

authorized officers the day and hour set forth in Schedule A of this policy.

Policy Of Title Insurance Template Page 3