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Policy#: 5011400-1166403e CONDITIONS(Continued)
<br /> (b) The Company shall have the right,in addition to the options 7. OPTIONS TO PAY OR OTHERWISE SETTLE CLAIMS;
<br /> contained in Section 7 of these Conditions,at its own cost,to TERMINATION OF LIABILITY
<br /> institute and prosecute any action or proceeding or to do any In case of a claim under this policy,the Company shall have the
<br /> other act that in its opinion may be necessary or desirable to following additional options:
<br /> establish the Title,as insured,or to prevent or reduce loss or (a)To Pay or Tender Payment of the Amount of Insurance.
<br /> damage to the Insured. The Company may take any To pay or tender payment of the Amount of Insurance under this
<br /> appropriate action under the terms of this policy,whether or policy together with any costs,attorneys'fees,and expenses
<br /> not it shall be liable to the Insured. The exercise of these incurred by the Insured Claimant that were authorized by the
<br /> rights shall not be an admission of liability or waiver of any Company up to the time of payment or tender of payment and
<br /> provision of this policy. If the Company exercises its rights that the Company is obligated to pay.
<br /> under this subsection,it must do so diligently. Upon the exercise by the Company of this option,all liability and
<br /> (c) Whenever the Company brings an action or asserts a defense obligations of the Company to the Insured under this policy,
<br /> as required or permitted by this policy,the Company may other than to make the payment required in this subsection,
<br /> pursue the litigation to a final determination by a court of shall terminate,including any liability or obligation to defend,
<br /> competent jurisdiction,and it expressly reserves the right,in its prosecute,or continue any litigation.
<br /> sole discretion,to appeal any adverse judgment or order. (b) To Pay or Otherwise Settle With Parties Other Than the Insured
<br /> 6. DUTY OF INSURED CLAIMANT TO COOPERATE or With the Insured Claimant.
<br /> (a) In all cases where this policy permits or requires the Company (i) To pay or otherwise settle with other parties for or in the
<br /> to prosecute or provide for the defense of any action or name of an Insured Claimant any claim insured against
<br /> proceeding and any appeals,the Insured shall secure to the under this policy. In addition,the Company will pay any
<br /> Company the right to so prosecute or provide defense in the costs,attorneys'fees,and expenses incurred by the
<br /> action or proceeding,including the right to use,at its option, Insured Claimant that were authorized by the Company up
<br /> the name of the Insured for this purpose, Whenever requested to the time of payment and that the Company is obligated
<br /> by the Company,the Insured,at the Company's expense,shall to pay;or
<br /> give the Company all reasonable aid(i)in securing evidence, (ii) To pay or otherwise settle with the Insured Claimant the
<br /> obtaining witnesses,prosecuting or defending the action or loss or damage provided for under this policy,together with
<br /> proceeding,or effecting settlement,and(ii)in any other lawful any costs,attorneys'fees,and expenses incurred by the
<br /> act that in the opinion of the Company may be necessary or Insured Claimant that were authorized by the Company up
<br /> desirable to establish the Title or any other matter as insured. to the time of payment and that the Company is obligated
<br /> If the Company is prejudiced by the failure of the Insured to to pay.
<br /> furnish the required cooperation,the Company's obligations to Upon the exercise by the Company of either of the options
<br /> the Insured under the policy shall terminate,including any provided for in subsections(b)(i)or(ii),the Company's
<br /> liability or obligation to defend,prosecute,or continue any obligations to the Insured under this policy for the claimed loss
<br /> litigation,with regard to the matter or matters requiring such or damage,other than the payments required to be made,shall
<br /> cooperation. terminate,including any liability or obligation to defend,
<br /> (b) The Company may reasonably require the Insured Claimant to prosecute,or continue any litigation.
<br /> submit to examination under oath by any authorized 8. DETERMINATION AND EXTENT OF LIABILITY
<br /> representative of the Company and to produce for This policy is a contract of indemnity against actual monetary loss or
<br /> examination,inspection,and copying,at such reasonable damage sustained or incurred by the Insured Claimant who has
<br /> times and places as may be designated by the authorized suffered loss or damage by reason of matters insured against by this
<br /> representative of the Company,all records,in whatever policy.
<br /> medium maintained,including books,ledgers,checks, (a)The extent of liability of the Company for loss or damage
<br /> memoranda,correspondence,reports,e-mails,disks,tapes, under this policy shall not exceed the lesser of
<br /> and videos whether bearing a date before or after Date of (i) the Amount of Insurance;or
<br /> Policy,that reasonably pertain to the loss or damage. Further, (ii) the difference between the value of the Title as insured
<br /> if requested by any authorized representative of the Company, and the value of the Title subject to the risk insured against
<br /> the Insured Claimant shall grant its permission,in writing,for by this policy.
<br /> any authorized representative of the Company to examine, (b) If the Company pursues its rights under Section 5 of these
<br /> inspect,and copy all of these records in the custody or control Conditions and is unsuccessful in establishing the Title,as
<br /> of a third party that reasonably pertain to the loss or damage. insured,
<br /> All information designated as confidential by the Insured (i) the Amount of Insurance shall be increased by 10%,an
<br /> Claimant provided to the Company pursuant to this Section (ii) the Insured Claimant shall have the right to have the loss
<br /> shall not be disclosed to others unless,in the reasonable or damage determined either as of the date the claim was
<br /> judgment of the Company,it is necessary in the administration made by the Insured Claimant or as of the date it is settled
<br /> of the claim. Failure of the Insured Claimant to submit for and paid.
<br /> examination under oath,produce any reasonably requested (c) In addition to the extent of liability under(a)and(b),the
<br /> information,or grant permission to secure reasonably Company will also pay those costs,attomeys'fees,and
<br /> necessary information from third parties as required in this expenses incurred in accordance with Sections 5 and 7 of
<br /> subsection,unless prohibited by law or governmental these Conditions.
<br /> regulation,shall terminate any liability of the Company under
<br /> this policy as to that claim.
<br /> Form 5011400(7-1-14) Page 4 of 5 ALTA Owner's Policy of Title Insurance(6-17-06)
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