OTIRO Endorsement No. 69.1 Priority of Advance Endorsement For Use with Extended Coverage Loan Policy without Exception for Unrecorded Construction Liens





Date :
Premium :

The Company hereby assures the Insured:

1. That, except as otherwise expressly provided herein, there are no liens, encumbrances or other matters shown by the Public Records, affecting said estate or interest, other than those shown in said policy, except: [FILL IN]

2. That there are no subsisting tax or assessment liens which are prior to the Mortgage referred to in Schedule A, except: [FILL IN]

3. That, as shown by the Public Records, the Title to said estate or interest is vested in the vestee shown in Schedule A.

4. That the advance hereinafter referred to is secured by the Mortgage referred to in Schedule A; that as shown by the Public Records, said Mortgage as to such advance is prior to any liens, encumbrances and other matters affecting said estate or interest other than those shown in Schedule B as prior to said Mortgage and in paragraph 2 herein, except: [FILL IN]

Upon assurance by the Insured that said Insured has made an advance to [FILL IN] for the sum of $[FILL IN], which is a portion of the Indebtedness evidenced by the note or notes secured by said Mortgage, the Company hereby insures against loss which the Insured shall sustain in the event that the assurances of the Company herein shall prove to be incorrect or by reason of the establishment of priority over the lien of said Mortgage upon said estate of any statutory lien for labor or material arising out of the work of improvement under said construction or completed at the date hereof.

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 and costs which the Company is obligated under the Conditions and Stipulations thereof to pay.

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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