VA Policy Authorization Outsale • Non-MLA Site
OUTSALE • NON-MLA SITE
Date: ______________________________ Borrowers: ___________________________________
To: __________________________________ Property: _____________________________________
Policy Amount: $ _________________________ s/p _______________________________, County
$ _________________________ l/a
You are hereby authorized to issue our title insurance policies to both lenders and owners where requested by proposed insureds without the standard mechanic's and materialmen's liens exception providing that you have in your file all subcontractor /supplier lien waivers for all subcontractors/ suppliers supplying labor or material to the subject premises; that you verify with said subcontractors /suppliers that they have been paid in full for all labor or materials furnished on the subject Property; that you have final subcontractor/ supplier release of liens reflecting the final payments; that Stewart Title's Final Affidavit and Agreement And Statutory Affidavit of Payment form is executed by the Builder at closing; and if required here in writing, that an additional extra-hazardous risk fee of $1.00/$1,000.00 has been paid for the coverage.
This approval is contingent upon your firm promptly notifying Stewart Title Guaranty Company if any mechanic's/materialmen's liens are filed of record or if other indications of the subject builder's distress become apparent.
You must remit by separate check the $1.00 / $1,000.00 extra-hazardous risk fee for this coverage along with a copy of this authorization and a copy of the settlement statement from this closing to my attention.
Please contact the undersigned if you have any problems or questions regarding this procedure.
STEWART TITLE GUARANTY COMPANY
No guidelines are available for this form at this time.