1990-05-15 Resolution 22 - Laserfiche WebLink

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CONDITIONS AND STIPULATIONS 1. The term mortgage, when used herein, shall include deed of trust,. trust deed, or other security instrument. 2. If the proposed ..Insured has or acquires actual knowledge of any defect,. lien, encumbrance, adverse claim or other matter affecting the estate or interest or mortgage thereon covered by this Commitment other than those shown in Schedule B hereof, and •shall fail to disclose such knowledge to the Company in writing, the Company shall be .relieved from liability for any loss or damage resulting from any act of reliance hereon to the extent the Company is prejudiced by failure to so disclose such knowledge. (f the proposed Insured shall disclose such knowledge to .fhe;~ Company, or if the Company otherwise acquires actual knowledge of any stash-defect, lien; encumbrance, adverse claim or other .matter, the Company,;, at; , irs option may amend Schedule B of this Commitment accordingly, but;~such amendmentshall not relieve the. Company from liability previously incurred pursuant to paragraph 3 of these Conditions and Stipulations... ,., ,.. ; 3. Liability of th,e C_ot~nPany under this Commitment shall be only to the. named proposed Insured acrd°such parties included under the definition of Insured in the form of policy or poli'cies~ committed .for and only .for actual loss. incurred in reliance hereon in.undet'taking in good faith (a} to comply with the requirements hereof, or (b} to elimtr~a_te exceptions shown in Schedule B, or (c} to acquire or ~~~_~ create the estate or interest or mortgage thereon covered by this Commitment. In no event shall suchaia~biliay exceed the amount stated in Schedule A for the policy or policies committedaror and such liability is subject to the .insuring provisions, the Conditions and.Stipu-lations, and the Exclusions from Coverage of the form of policy or policies committed for in favor of the proposed Insured which are. hereby incorporated by reference and are made a part of this Commitment except as expressly modified herein. 4. Any ,action or actions ar-`rights of action that the proposed Insured may have or may bring agai,nstahe Ccrm`pany arising out of the status of the title to the estate or interest or the ;status~i3f,,Y.fae -mortgage thereon covered by this Commitment must be based on and are sublect-to the provisions of this Commitment. •~~` ~ .•. ~'4T~ J~~A ~~ r~ 1 1, 1J E GUARANTY CODfPAI`TT All notices required t©'=be grveri the .Company and any statement in vvriting required to be furnished the Company shall be addressed to it at P.O. Box' 2029, Houston, Texas 77252..