T-26 TX Additional Insured Endorsement
ADDITIONAL INSURED ENDORSEMENT
ADDITIONAL INSURED ENDORSEMENT (Form T-26)
Attached to and Made a Part of
Policy No: ____________________
STEWART TITLE GUARANTY COMPANY
The policy is hereby amended by adding as a named insured therein:
This endorsement does not extend the coverage of the policy to any later date than Date of Policy, nor does it impose any liability on the Company for loss or damage resulting from (1) failure of such added insured to acquire an insurable estate or interest in the land, or (2) any defect, lien or encumbrance attaching by reason of the acquisition of an estate or interest in the land by such added insured.
[ ] Optional Coverage for Limited Liability Companies: [if box is checked]
The Company hereby agrees that, notwithstanding anything to the contrary contained in this policy, in the event of loss or damage insured under this policy, the Company shall not deny liability under this policy or raise a defense to any claim made under this policy solely on the ground that, after the Date of Policy, a dissolution or termination of the limited liability company has occurred or a new limited liability company or other entity has been created by reason of any one or more:
(i) transfer(s) of all or any part of the limited liability company members' interests in the insured to any transferee(s),
(ii) withdrawal(s) of one or more of the members from the limited liability company, or
(iii) addition(s) of one or more persons or entities as members of the limited liability company;
provided that the insured limited liability company remains the record title holder and no new limited liability company is explicitly formed.
The Company reserves all of its rights and defenses under this policy which the Company would have had against the named insured or its constituent members before or after any withdrawal, transfer, or substitution.
This endorsement is issued as part of the policy. Except as it expressly states, it does not (i) modify any of the terms and provisions of the policy, (ii) modify any prior endorsements, (iii) extend the Date of Policy, or (iv) increase the Amount of Insurance. To the extent a provision of the policy or a previous endorsement is inconsistent with an express provision of this endorsement, this endorsement controls. Otherwise, this endorsement is subject to all of the terms and provisions of the policy and of any prior endorsements.
For issuing guidelines on this form, see Guidelines