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<br />CONDITIONS AND STIPULATIONS <br />1. The term mortgage, when used herein, shall include deed of trust, trust deed, or <br />other security instrument. <br />2. If the proposed Insured has or acquires actual knowledge of any defect, lien, <br />encumbrance, adverse claim or other matter affecting the estate or interest or <br />mortgage thereon covered by this Commitment other than those shown in <br />Schedule B hereof, and shall fail to disclose such knowledge to the Company in <br />writing, the Company shall be relieved from liability for any loss or damage <br />resulting from any act of reliance hereon to the extent the Company is prejudiced <br />by failure to so disclose such knowledge. If the proposed Insured shall disclose such <br />knowledge to the Company, or if the Company otherwise acquires actual <br />knowledge of any such defect, lien, encumbrance, adverse claim or other matter, <br />the Company at its option may amend Schedule B of this Commitment <br />accordingly, but such amendment shall not relieve the Company from liability <br />previously incurred pursuant to paragraph 3 of these Conditions and Stipulations. <br />3. Liability of the Company under this Commitment shall be only to the named <br />proposed Insured and such parties included under the definition of Insured in the <br />form of policy or policies committed for and only for actual loss incurred in <br />reliance hereon in undertaking in good faith (a) to comply with the requirements <br />hereof, or (b)to eliminate exceptions shown in Schedule B, or (c)to acquire or <br />create the estate or interest or mortgage thereon covered by thisCommitment. In <br />no event shall such liability exceed the amount stated in Schedule A far the policy <br />or policies committed for and such liability is subject to the insuring provisions and <br />the Conditions and Stipulations and the exclusions from coverage of the form of <br />policy or policies committed for in favor of the proposed Insured which are hereby <br />incorporated by reference and are made a part of this Commitment except as <br />expressly modified herein. <br />4. Any claim of loss or damage, whether or not based on negligence, and which arises <br />out of the status of the title to the estate or interest or the lien of the insurer) <br />mortgage covered hereby or any action asserting such claim, shall be restricted to <br />the provisions and Conditions and Stipulations of this Commitment. <br />S'1` l~ ~1'A 1~'1` '1` I'1` L E <br />GUARANTY CODSPANY <br />Page 5 <br />