NM Form 18 Construction Loan Policy Endorsement A
Construction Loan Policy Endorsement A
Attached to Policy No.
STEWART TITLE GUARANTY COMPANY
The Company hereby insures against loss or damage by reason of lack of priority of the lien of the insured mortgage over any lien imposed by law for services, labor or material, for that portion of the cost thereof the payment for which the insured has disbursed funds, and which services, labor or material were furnished prior to _______________ for an improvement on the land.
This endorsement does not insure against loss or damage by reason of failure by the insured to comply with or to enforce the provisions of law known to the insured or of any agreement to which the insured is a party which relate to the disbursement of the proceeds of the loan secured by the insured mortgage.
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 that the insurance afforded by this endorsement is not subject to paragraphs 3(d), 6 and 7 of the Exclusions From Coverage. 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, nor does it increase the face amount thereof.
[Witness clause optional]
For issuing guidelines on this form, see Guidelines