STG Amendment of Covered Risk 10 (on 2021 ALTA Loan Policy) 7-1-2021

STG Amendment of Covered Risk 10 (on 2021 ALTA Loan Policy) 7-1-2021

Issued By
Stewart Title Guaranty Company

File No.: ________________

 

Covered Risk 10 of the 2021 ALTA Loan Policy is amended to:

1.     Delete Covered Risk 10, which reads as follows:

10.  The lack of priority of the lien of the Insured Mortgage upon the Title over any other lien or encumbrance on the Title as security for the following components of the Indebtedness:

a.   the amount of the principal disbursed as of the Date of Policy;

b.   the interest on the obligation secured by the Insured Mortgage;

c.   the reasonable expense of foreclosure;

d.   amounts advanced for insurance premiums by the Insured before the acquisition of the estate or interest in the Title; and

e.   the following amounts advanced by the Insured before the acquisition of the estate or interest in the Title to protect the priority of the lien of the Insured Mortgage:

i.    real estate taxes and assessments imposed by a governmental taxing authority; and

ii.    regular, periodic assessments by a property owners’ association.

2.     And substitute the following new Covered Risk 10, which reads as follows:

10.  The lack of priority of the lien of the Insured Mortgage upon the Title over any other lien or encumbrance on the Title.

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.

Date: ______________

 

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