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To apply a watermark to a searchable PDF, open a document, click print, select Universal document converter, go to printer properties, choose PDF document as the file format, opt for searchable PDF in the data structure section, then go to watermark, select tax label or picture, adjust settings for overlay method, position, rotation, margins, text format, and transparency. Click okay and hit print to convert any text files to searchable PDF with watermarks using Universal document converter. This allows the PDF to retain text search and selection capabilities.