STG Subordination Endorsement 1

This form should not be used if a comparable ALTA version is available. If a comparable ALTA version is available, the most current version of the ALTA form available in each state should be used, unless approved by a Stewart underwriter.

SUBORDINATION ENDORSEMENT

Attached To and Made a Part of
Policy No. __________
Issued By

STEWART TITLE GUARANTY COMPANY

The Company hereby insures the owner of the indebtedness secured by the mortgage referred to in paragraph 4 of Schedule A against loss which said insured shall sustain

By reason of any impairment of the lien thereof on the estate or interest described in Schedule A, occasioned by the execution of a Subordination Agreement dated ______________ , and recorded _______________ , as Instrument No. _________ , except to the extent that said Subordination Agreement subordinates the interest of the Insured to an Easement Agreement as provided for and as defined in said Subordination Agreement.

THIS ENDORSEMENT MAY NOT BE ISSUED WITHOUT APPROVAL FROM STEWART TITLE GUARANTY UNDERWRITING PERSONNEL

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 made a part of the policy and is subject to all of the terms and provisions thereof and of any prior endorsements thereto. Except to the extent expressly stated, it neither modifies any of the terms and provisions of the policy and any prior endorsements, nor does it extend the effective date of the policy and any prior endorsements, nor does it increase the face amount thereof.

[Witness clause optional]

For issuing guidelines on this form, see Guidelines