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continued from Hods or Front cover
<br /> aprtoxs Ta PAY OR OTHERWISE SET':!.: CT-AIMS interest covered by this policv and the amount so paid shall
<br /> The Company shall have the option to pay or otherwise be deemed a payment under this policy to said insured owner.
<br /> settle for or in the name of an insured claimant any claim in- '0. A?PO1'IONMFNT
<br /> cored against or to terminate all liability and obligations of
<br /> the Company hereunder by paying or tenderina payment of If the land described In Schedule A consists of two or more
<br /> • the amount of insurance under this policy together with any pa reels which are not used as a single site, and a loss Is estab- ' I
<br /> costs, attorneys' fees and expenses Incurred up to the time Fished affecting one or more of said parcels but not all, the
<br /> of such payment or tender of payment, by the insured claim• loss shall be computed and settled on a pro rate basis as If
<br /> ant end authorized by the Company. the amount of insurance under this policy was divided pro
<br /> -rate as to the value on Date of Policy of each separate parcel
<br /> 6: DETERMINATION AND PAYMENT OF LOSS to the whole, exclusive of any improvements made subsequent ;
<br /> to Date of Policy, unless a liability or value has otherwise r1
<br /> (a) The liability of the Company under this policy shall been agreed upon as to each such parcel by the Company and ,
<br /> Id no case exceed the least of: the insured at the time of the issuance of this policy and
<br /> (I) the actual lass of the insured claimant; V.
<br /> shown by an express statement,herein or by an endorsement
<br /> attached hereto.
<br /> (it) the amount of,insurance in Schedule. A::..' i
<br /> (b) The Company will pay, In addition to any loss Pti_4ured ?
<br /> against by This policy, all costs Imposed upon an Insured in lilt- •3. SUBRO6ATtON UPON PAYMENT OR SETTLEMENT
<br /> gtttlon curried on by the Company for such Insured, and all Whenever the Company shall have settled a claim under '-
<br /> costs, attorneys' fees and expenses In litigation carried on by this Policy, rll right of subrogation shall vent in the Company
<br /> ouch Insured with the written authorization of the Company, unaffected by any act of the insured claimant. The Company
<br /> (c) When liability has been definitely fixed In accordance • shall be subro ated.to and be entitled to all rights and rem&
<br /> with the con
<br /> ditlons of this policy, the loss or damage shall be dies which such Insured claimant would have had against any .t
<br /> ` payable within 30 days thereafter. person or property in respect to such claim had this .policy.not ,
<br /> .. _ been issued, and If requested by the Company, such insured
<br /> claimant shall transfer to the Company all rights and remedies . '• '.
<br /> Y. LIMITATION OF LIABILITY .. against any person or pro pert necessary In order to perfect
<br /> No claim shall arise or be maintained under this policy such right of subrogation end shall permit the Company to
<br /> No
<br /> (a) if the Company, after having received notice of an alleged use the name of such Insured claimant d any transaction or •i':t;
<br /> defect, lien or encumbrance insured against hereunder,Eby litigation involving such rights st remedies. t, the payment
<br /> litigation or otherwise, removes such defect, lien-or encum- does not cover the doss of such Insured claimant, the Company
<br /> brance or establishes the title, as insured, within a reasonable shall be subrogatea to such rights and remedies In the pro- ,
<br /> time after receipt of such notice; (b) in the event of litigation onion which result
<br /> tfrompayment bears to the amount of said iontt. ,•.i
<br /> until there has been a final determination by a court or com- sP loss should result from any act of such Insured claimant,
<br /> petent jurisdiction, and disposition of all appeals therefrom, such act shell not void this policy, but the Company, in that
<br /> adverse to the title, as insured, as provided In paragraph 3 event, shall be required to pay only that part of any losses • :.
<br /> hereof; or (c) for liability voluntarily assumed by an insured insured against hereunder which shall exceed the amount, If
<br /> in settling any claim or suit without prior written consent of any, lost to the Company by reason of the impairment of the . • ;
<br /> the Company. right of subrogation. ,^
<br /> "2. LIABILITY LIMITED TO THIS POLICY
<br /> 3. REDUCTION OF :iABlLI77 _ II.
<br /> All payments under this policy, except payments made for .This instrument together with all endorsements and other
<br /> costs, attorneys' fees and expenses, shall reduce the amount instruments, If any, attached hereto by the Company to the
<br /> of the insurance pro tanto. No payment shall be made without entire policy and contract between the insured and the
<br /> 71.
<br /> producing this policy for endorsement of such payment unless Company.
<br /> the policy be lost or destroyed, in which case proof of such Any claim of loss or damage, whether or not based on �r
<br /> loss or destruction shall be furnished to the satisfaction of negligence, and which arises out of the status of the title to the Company. the estate or interest covered hereby or any action asserting
<br /> such claim, shall be restricted to the provisions and conditions
<br /> 9. LIABILITY NmICUMULATIVE and stipulations of this policy.
<br /> No amendment of or endorsement to this policy can be
<br /> It is expressly understood that the amount of insurance made except by writing endorsed hereon or attached hereto
<br /> under this policy shall be reduced by any amount the Com• signed by either the President, a Vice President, the Scrretnry. r
<br /> pany may pay under policy insuring either (a) a mortgage an Assistant Secretary, or validating officer or authorized
<br /> . shown or referred to in Schedule B hereof which is a lien on signatory of. the Company. �t -
<br /> the estate or interest covered by this policy,or (b) a mortgego� .. - . . _
<br /> hereafter executed by an insured which is a charge or lien on "S. NOTICES, WHERE SENT
<br /> the estate or interest described or referred to in Schedule A,
<br /> and the amount so paid shall be deemed a payment under this All notices required to be given the Company and any
<br /> policy. The Company shall have the option to apply to the pay statement in writing required to be furnished the Company.
<br /> ment of any such mortgages any amount that otherwise wou u� shall he Addressed to Transamerica Title insurance Company. w
<br /> be payable hereunder to the insured owner of the estate or 1837 California St., Denver, Colorado R0202. '�• - 'R'
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