4.5. HRSR 09-08-2020 - Laserfiche WebLink

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Insured Closing Protection Letter -- Ref: 967952121 -- ALTA8 - Single Transaction 11. You must promptly send written notice of a claim under this letter to the Company at its principal office at 400 Second Avenue South, Minneapolis, MN 55401. If the Company is prejudiced by Your failure to provide prompt notice, the Company's liability to You under this letter shall be reduced to the extent of the prejudice. 12. Whenever requested by the Company, You, at the Company's expense, shall. a. give the Company all reasonable aid in: i. sectu-ing evidence, obtaining witnesses, prosecuting or defending any action or proceeding, or effecting any settlement, and ii. any other lawful act that in the opinion of the Company may be necessary to enable the Company's investigation and determination of its liability under this letter; deliver to the Company any records, in whatever medium maintained, that pertain to the Real Estate Transaction or any claim under this letter; and c. submit to an examination under oath by any authorized representative of the Company with respect to any such records, the Real Estate Transaction, any claim under this letter or any other matter reasonably deemed relevant by the Company. 13. The Company shall have no liability under this letter if: a. the Real Estate Transaction has not closed within one year from the date of this letter; or b. at any time after the date of this letter, but before the Real Estate Transaction closes, the Company provides written notice oftemi.nation of this letter to the Addressee at the address set forth above. 14. The protection of this letter extends only to real estate in Minnesota, and any court or arbitrator shall apply the law of the jurisdiction where the Landis located to interpret and enforce the terms of this letter. In neither case shall the court or arbitrator apply its conflicts of law principles to determine the applicable law. Any litigation or other proceeding under this letter must be filed only in a state or federal court within the United States of America or its territories having appropriate jurisdiction. 15. There shall be no right for any claim under this letter to be arbitrated or litigated on a class action basis. 16. Either the Company or You may demand that any claim arising under this letter be submitted to arbitration pursuant to the Title Insurance Arbitration Rules of the American Land Title Association, unless You have a Policy for die Real Estate Transaction with an Amount of Insurance greater than $2,000,000. If You have a Policy for die Real Estate Transaction with an Amount of Insurance greater than $2,000,000, a claim arising under this letter may be submitted to arbitration only when agreed to by both the Company and You. If the Real Estate Transaction solely involves a one -to -four family residence and You are the purchaser or borrower, the Company will pay the costs of arbitration. This letter supersedes and cancels any previous letter or similar agreement for closing protection that applies to the Real Estate Transaction and may not be modified by die Issuing Agent or Approved Attorney. OLD REPUBLIC NATIONAL TITLE INSURANCE COMPANY By: O�w Rob Glass Assistant Secretary cf. Ann Leon Generated by Old Republic National Title Insurance -- Ref: 967952121 -- ALTA8 - Single Transaction Page 4 / 4