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<br /> CONDITIONS AND STIPULATIONS (Continued)
<br /> any policy insuring either (a) a mortgage shown or referred to in and remedies against any person or property necessary in order to
<br /> Schedule B hereof which is a lien on the estate or interest covered by perfect such right of subrogation and shall permit the Company to use
<br /> this policy, or (b) a mortgage hereafter executed by an insured which the name of such insured claimant in any transaction or litigation
<br /> is a charge or lien on the estate or interest described or referred to in involving such rights or remedies. If the payment does not cover the
<br /> Schedule A, and the amount so paid shall be deemed a payment under loss of such insured claimant, the Company shall be subrogated to
<br /> this policy. The Company shall have the option to apply to the pay- such rights and remedies in the proportion which said payment bears
<br /> ment of any such moRgages any amount that otherwise would be pay- to the amount of said loss. If loss should result from any act of such
<br /> able hereunder to the insured owner of the estate or interest covered �nsured claimant, such act shall not void this policy, but the Com-
<br /> by this policy and the amount so paid shall be deemed a payment pany, in that event, shall be required to pay only that part of any losses
<br /> under this policy to said insured owner. insured against hereunder which shall exceed the amount, if any, lost
<br /> to the Company by reason of the impairment of the right of subrogation.
<br /> 10. AppoAtonm�nt
<br /> If the land described in Schedule A consists of two or more parcels �Z. ��abllity LImINd to thts Poliry
<br /> which are not used as a single site, and a loss is established affecting This instrument together with all endorsements and other instru-
<br /> one or more of said parcels but not all, the loss shall be computed ments, if an attached hereto b the Com aa►y is the entire
<br /> and settled on a pro rata basis as if the amount of insurance under y' y P policy and
<br /> this policy was divided pro rata as to the value on Date of Policy of contract between the insured and the Company.
<br /> each separate parcel to the whole, exclusive of any improvements made Any claim of loss or damage, whether or not based on negligence,
<br /> subsequent to Date of Policy, unless a liability or value has otherwise and which arises out of the status of the title to the estate or interest
<br /> been agreed upon as to each such parcel by the Company and the covered hereby or any action asserting such claim, shall be restricted
<br /> insured at the time of the issuance of this policy and shown by an to the provisions and conditions and stipulations of this policy.
<br /> express statement herein or by an endorsement attached hereto. No amendment of or endorsement to this policy can be made except
<br /> by writing endorsed hereon or attached hereto signed by either the
<br /> 11. Subrogation Upon Paym�nt or S�Hl�m�et President, a Vice President, the Secretary, an Assistant Secretary, or
<br /> Whenever the Company shall have settled a claim under this policy, validating officer or authorized signatory of the Company. �
<br /> all right of subrogation shall vest in the Company unaffected by any �
<br /> act of the insured claimant. The Company shall be subrogated to and 13. Nottces,Wh.r.Sent
<br /> be entitled to all rights and remedies which such insured claimant All notices required to be given the Company and any statement in
<br /> would have had against any person or property in respxt to such writing required to be furnished the Company shall be addressed to its
<br /> claim had this policy not been issued, and if requested by the Com- principal ofTice at 111 West Washington Street, Chicago, Illinois 60602,
<br /> pany, such insured claimant shall transfer to the Company all rights or at any branch ofiice of the Company.
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