CO Collateral Assignment Endorsement 104.4
ENDORSEMENT ATTACHED TO AND MADE A PART
OF POLICY OF TITLE INSURANCE
SERIAL NUMBER __________
STEWART TITLE GUARANTY COMPANY
HEREIN CALLED THE COMPANY
The Company hereby insures:
(a) That the beneficial interest under the mortgage referred to in paragraph ______ of Schedule _____ has been assigned to the Insured as collateral security; excepting from coverage thereto impairment, loss or failure of title to the beneficial interest transferred to said Insured resulting from:
(1) lack of possession of the original Promissory Note secured by the insured mortgage, or
(2) the absence from the original Promissory Note of a proper endorsement to the Insured assignee.
(b) That no release, either full or partial, of said mortgage, or any modification or subordination thereof, appears of record.
The Company hereby insures against loss or damage which the insured shall sustain in the event that the assurances herein shall prove to be incorrect.
The liability of the Company under this endorsement shall not exceed the sum of $_______________ and costs which the Company is obligated under the Conditions and Stipulations of said policy to pay.
This endorsement is made a part of the policy and is subject to all of the terms and provisions thereof and of any prior endorsements thereto. Except to the extent expressly stated, it neither modifies any of the terms and provisions of the policy and any prior endorsements, nor does it extend the effective date of the policy and any prior endorsements.
Signed under seal for the Company, but this endorsement is to be valid only when it bears an authorized countersignature.
For issuing guidelines on this form, see Guidelines