Res 1990-007 - Laserfiche WebLink

Home Browse Search

T-1 Cwn;¡r Policy-Form Prescribed by State Board of Insurance of TexII!"-Revised 3-1-1985 STEWAR"r TITLE GUARANTY COMPANY STEWART TITLE GUARANTY COMPANY, a Texas corporation, hereinafter called the Company, for value does hereby guarantee to the Insured (as herein defined) that as of the date hereof, the Insured has good and indefeasible title to the estate or int~rest in the land described or re¡f~fred to in this poliC,y. The Company shall not be liable in a greater amount than the actual monetary loss of the Insured, and in no event shall the Company be liable for more than the amount shown in Schedule A hereof, and shall, except as hereinafter stated, at its own cost defend the Insured in every action or proceeding on any claim against, or right to the estate or interest in the land, or any part thereof, adverse to the title to the estate or interest in the land as hereby guaranteed, but the Company shall not be required to defend against any claims based upon matters in any manner excepted under this policy by the exceptions in Schedule B hereof or excluded b h 2, "Exclusions from Coverage of this Policy", of the Conditions and Stipulations hereof. The to such defense shall within a reasonable time after the commencement of such action or p r defense therein, give the Company written notice of the pendency of the action or proceeding, and authority to defend, The Company shall not be liable until such adverse interest, claim, or right shall have been held valid by t rt to which either litigant may apply, and if such adverse interest, claim, or right so es the whole of the estate or interest in the land, then the liability of the Company shall be liability limited above as shall bear the same ratio to the whole liability that the adverse interest, claim or right established may bear to the whole estate or interest in the land, such ratio to be based on tive values of the date of this policy, In the absence of notice as aforesaid, the Company is relieve ility with ny such interest, claim or right; provided, however, that failure to notify shall not preju s of the uch Insured shall not be a party to such action or proceeding, nor be served with thereof, not in any case, unless the Company shall be actually prejudiced by Upon sale of the estate or interest in the and the Insured shall for a period of hereof, by reason of the payment of any loss, in the transfer or conveyance executed by the be liable under said warranty only by reason and not excluded either by the exceptions or amount of this policy, IN WITNESS HEREOF, the STEWART TITLE and President under the seal of the countersignature, as of the date set forth in -ø:~ ~~ Chairman of the Board Countersigned: COUNTY ABSTRACT COMP 581 (Rev. 3-1-85) shall become a warrantor's policy fully protected according to the terms account of any warranty of title contained or interest in the land, The Company shall existing prior to or at the date hereof hereof, such liability not to exceed the policy to be executed by its Chairman be valid only when it bears an authorized STEWART TITLE GUARANTY COMPANY eI~ ø~ President 723019 A