OTIRO Endorsement No. 51 Additional Adavance End. - No Changes in the Record





Date :
Premium :

The Company assures

(1) That there has been no change of record in the vesting of Title to said Land subsequent to the date of said policy.

(2) That there are no liens or encumbrances of record against said Land other than those shown in said policy; provided, however, that this assurance does not cover taxes or assessments, no examination having been made thereof subsequent to the date of said policy;

(3) That no satisfaction, full or partial, of the Mortgage referred to in paragraph [FILL IN] of Schedule A, and no modification or assignment of said Mortgage subsequent to the date of said policy appears of record.

Upon the representation and assurance by the Assured that said Assured has made an additional advance to the mortgagors in the sum of $[FILL IN], evidenced by a promissory note for that amount or by other sufficient written evidence of Indebtedness, and secured by said Mortgage, the liability of the Company under said policy is hereby increased by said sum; and the Company hereby insures against any loss of principal, interest, or other sums secured by said Mortgage, which said Assured shall sustain in the event that the assurance of the Company herein shall prove to be incorrect.

The total liability of the Company under said policy and any endorsements therein shall not exceed, in the aggregate, the face amount of said policy, plus the amount of said additional advance, and costs which the Company is obligated under the stipulations thereof to pay. In no case shall such total liability, exclusive of costs, exceed the original amount of the Mortgage plus the amount of advances provided for therein.

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.

Order Reference:_____________________ 


BY: _______________________________
[Authorized Signer]

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