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' ' �' � �� CHICAGO TITLE INSURANCE COMPANY
<br /> " ' OWNER'S POLICY (2006)
<br /> POLICY NUMBER: 1612-120113192-DEC
<br /> 3. NOTICE OF CLAIM TO BE GIVEN BY Company may pursue the litigation to regulation,shall terminate any liability
<br /> INSURED CLAIMAIVT a final determination by a court of of the Company under this policy as to
<br /> The Insured shall notify the Company competentjurisdiction,and it expressly that claim.
<br /> promptly in writing (i) in case of any reserves the right,in its so►e discretion, 7. OPT'IONS TO PAY OR OTHERWISfl
<br /> litigation as set forth in Section 5(a)of these to appeal from any adverse judgment SETTLE CLAIMS; TERMINATION OF
<br /> Conditions, (ii) in case Knowledge shall or order. LIABILITY
<br /> come to an Insured hereunder of any claim 6. DUTY OF INSURED CLAIMANT TO In case of a claim under this policy, [he
<br /> of title or interest that is adverse to the COOPERATE Company shall have the following additional
<br /> Title, as insured, and that might cause loss (a) In all cases where this policy permits or options:
<br /> oz damage for which the Company may be requires the Company to prosecute or (a) To Pay or Tender Payment of the
<br /> liable by virtue of this policy, or(iii) if the provide for the defense of any action Amount of Insurance.
<br /> Title, as insured, is rejected as or proceeding and any appeals, the To pay or tender payment of the
<br /> Unmarketable Title. If the Company is Insured shall secure to the Company Amount of Insurance under this policy
<br /> prejudiced by the failure of the Insured the right to so prosecute or provide together with any costs,attorneys'fees,
<br /> Claimant to provide prompt notice, the defense in the action or proceeding, and expenses incurred by the Insured
<br /> Company's liability to the Insured Claimant including the right to use,at its option, Claimant that were authorized by the
<br /> under the policy shall be reduced to the the name of the Insured for this Company up to the time of payment or
<br /> extent of the prejudice. purpose. Whenever requested by the tender of payment and that the
<br /> 4. PROOF OF LOSS Company, the Insured, at the Company is obligated to pay.
<br /> In the event the Company is unable to Company's expense, shall give the Upon the exercise by the Company of
<br /> determine the amount of loss or damage, Company all reasonable aid (i) in this option,all liability and obligations
<br /> the Company may,at its option,require as a securing evidence,obtaining witnesses, of the Company to the Insured under
<br /> condition of payment that the Insured prosecuting or defending the action or this policy, other than to make the
<br /> Claimant fumish a signed proof of loss. The proceeding, or effecting settlement, payment required in this subsection,
<br /> proof of loss must describe the defect, lien, and(ii) in any other lawful act that in shall terminate, including any liability
<br /> encumbrance, or other matter insured the opinion of the Company may be or obligation to defend, prosecute, or
<br /> against by this policy that constitutes the necessary or desirable to establish the continue any litigation.
<br /> basis of loss or damage and shall state, to Title or any other matter as insured. If (b) To Pay or Otherwise Settle With
<br /> the extent possible, the basis of calculating the Company is prejudiced by the Parties Other Than the Insured or
<br /> the amount of the loss or damage. failure of the Insured to furnish the With the Insured Claimant.
<br /> 5. DEFENSE AND PROSECUTION OF required cooperation, the Company's (i) To pay or othenvise settle with
<br /> ACTIONS obligations to the Insured under the other parties for or in the name
<br /> (a) Upon written request by the Insured, policy shall terminate, including any of an Insured Claimant any claim
<br /> and subject to the options contained in liability or obligation to defend, insured against under this policy.
<br /> Section 7 of these Conditions, the prosecute, or continue any litigation, In addition,the Company will pay
<br /> Company, at its own cost and without with regard to the matter or matters any costs, attorneys' fees, and
<br /> unreasonable delay, shall provide for requiring such cooperation. eacpenses incurred by the Insured
<br /> the defense of an Insured in litigation (b) The Company may reasonabiy require Claimant that were authorized by
<br /> in which any third party asserts a claim the Insured Claimant to submit to the Company up to the time of
<br /> covered by this policy adverse to the examination under oath by any payment and that the Company is
<br /> Insured. This obligation is limited to authorized representative of the obligated to pay;or
<br /> only those stated causes of action Company and to produce for (ii) To pay or otherwise settle with
<br /> alleging matters insured against by this examination, inspection, and copying, the Insured Claimant the loss or
<br /> policy. The Company shall have the at such reasonable times and places as damage provided for under this
<br /> right to select counsel of its choice may be designated by the authorized policy, together with any costs,
<br /> (subject to the right of the Insured to representative of the Company, all attorneys' fees, and eacpenses
<br /> object for reasonable cause) to records, in whatever medium incurred by the Insured Claimant
<br /> represent the Insured as to those maintained, including books, ledgers, that were authorized by the
<br /> stated causes of action. It shall not be checks, memoranda, correspondence, Company up to the time of
<br /> liable for and will not pay the fees of reports, e-mails, disks, tapes, and payment and that the Company is
<br /> any other counsel. The Company will videos whether bearing a date before obligated to pay.
<br /> not pay any fees, costs, or expenses or after Date of Policy,that reasonably Upon the exercise by the Company of
<br /> incurred by the Insured in the defense pertain to the loss or damage. Further, either of the options provided for in
<br /> of those causes of action that allege if requested by any authorized subsections (b)(i) or (ii), the
<br /> matters not insured against by this representative of the Company, the Company's obligations to the Insured
<br /> policy. Insured Claimant shall grant its under this policy for the claimed loss
<br /> (b) The Company shall have the right, in permission, in writing, for any or damage, other than the payments
<br /> addition to the options contained in authorized representative of the required to be made, shall terminate,
<br /> Section 7 of these Conditions, at its Company to examine, inspect, and including any liability or obligation to
<br /> own cost, to institute and prosecute copy all of these records in the custody defend, prosecute, or continue any
<br /> any action or proceeding or to do any or control of a third party that litigation.
<br /> other act that in its opinion may be reasonably pertain to the loss or S. DETERMINAT'ION AND EXTENT OF
<br /> necessary or desirable to establish the damage. All information designated as LIABILITY
<br /> Title, as insured, or to prevent or confidential by the Insured Claimant This policy is a contract of indemnity against
<br /> reduce loss or damage to the Insured. provided to the Company pursuant to actual monetary loss or damage sustained or
<br /> The Company may take any this Section shall not be disclosed to incurred by the Insured Claimant who has
<br /> appropriate action under the terms of others unless, in the reasonable suffered loss or damage by reason of
<br /> this policy, whether or not it shall be judgment of the Company, it is matters insured against by this policy.
<br /> liable to the Insured. The exercise of necessary in the administration of the (a) The extent of liability of the Company
<br /> these rights shal( not be an admission claim. Failure of the Insured Claimant for loss or damage under this policy
<br /> of liability or waiver of any provision of to submit for examination under oath, shall not exceed the lesser of
<br /> this policy. If the Company exercises produce any reasonably requested (i) the Amount of Insurance;or
<br /> its rights under this subsection,it must information, or grant permission to (ii) the difference between the value
<br /> do so diligently. secure reasonably necessary of the Title as insured and the
<br /> (c) Whenever the Company brings an information from third parties as value of the Title subject to the
<br /> action or asseris a defense as required required in this subsection, unless risk insured against by this policy.
<br /> or permitted by this policy, the prohibited by law or governmental
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