OTIRO Endorsement No. 51.1 Additional Advance Endorsement - Change in the Record - Priority Adavance - For Use with Extended Coverage Loan Policy





Date :
Premium :

Upon the representation and assurance of the Insured, [FILL IN] that said Insured has made an additional advance to [FILL IN] in the sum of $[FILL IN], evidenced by a promissory note for that amount, executed by said party, or parties, dated [FILL IN], and secured by the Mortgage referred to in Schedule A, the Company hereby insures the Insured against loss which said Insured shall sustain by reason of

(1) Title to said estate or interest being vested at the date of this endorsement, in other than the maker or makers of the promissory note evidencing said additional advance, except as affected by the following matters: [FILL IN]

(2) Priority over said Mortgage, insofar as the same secures said additional advance, of any lien or encumbrance existing at the date of this endorsement which is not shown or referred to in Schedule B as prior to said Mortgage nor excluded from coverage in the Conditions and Stipulations or Schedule of Exclusions from Coverage, except as affected by the following matters: [FILL IN]

(3) Any reconveyance, full or partial, or modification or subordination of said Mortgage shown by the Public Records at the date of this endorsement, except for the following instruments: [FILL IN]

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 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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