T-3 - III. TX Assignment of Lien Endorsement
__________ TITLE INSURANCE COMPANY
Attached to and made a part of __________ Title Insurance Company Policy or Interim
Construction Binder Number _____, this _____ day of __________, 20_____.
"Said Loan Policy is hereby amended to name as the Insured: _______________. The lien described in Schedule A of said policy has been assigned to said named Insured by assignment dated __________ and recorded in the Office of the County Clerk of __________County, Texas (here insert clerk's file number or book and page of recording), and Schedule A of said policy is hereby amended to cover said assignment, and it is expressly stated that the effective date of said policy is changed to the date of this Endorsement."
"As of the date of this Endorsement, Company insures the insured against loss, if any, sustained by the insured under the terms of the policy if said lien is not a valid lien against the property described in Schedule A of said policy, subject to the matters set forth in Schedule B, the terms and provisions of said policy and the following:"
(Here insert any exception necessary by reason of matters arising since the date of the Policy)
"The Company insures that all standby fees, taxes and assessments by any taxing authority against the property described in Schedule A of said policy have been paid up to and including the year _________ except subsequent taxes and assessments for prior years due to change in land usage or ownership, and except: (specify or delete the immediately preceding words "and except".)"
"This endorsement does not insure against loss or damage, and the Company will not pay costs, attorneys' fees, or expenses, by reason of any claim that arises out of the transaction creating the assignment by reason of the operation of federal bankruptcy, state insolvency, or similar creditors' rights laws that is based on:
1. the assignment being deemed a fraudulent conveyance or fraudulent transfer; or
2. the assignment being deemed a preferential transfer."
"This endorsement shall be effective provided that, at Date of Endorsement:
1. the note or notes secured by the lien of the Insured Mortgage have been properly endorsed and delivered to the Assignee, or
2. if the note or notes are transferable records, the Assignee has "control" of the single authoritative copy of each "transferable record" as these terms are defined by applicable electronic transaction laws."
IN WITNESS HEREOF, the __________ TITLE INSURANCE COMPANY has caused this
Endorsement to be executed by its President under the seal of the Company, but this
Endorsement is to be valid only when it bears an authorized countersignature.
TITLE INSURANCE COMPANY
____________________________ by ____________________________
Countersigned at ___________, Texas. ____________________________
(Use Optional) Authorized Signature
Effective January 3, 2014 (Order 2806)
For issuing guidelines on this form, see Guidelines