PA 1015 Endorsement-Open-End Mtg or Construction Mtg 4/1/2007

 ENDORSEMENT

ISSUED BY

STEWART TITLE GUARANTY COMPANY

 

Attached to and made a part of Policy Number _______________________

 

The Company hereby insures the Insured that:

Advances made subsequent to the Date of Policy pursuant to Act 126 of 1990, 42 PA C.S A, Section 8143, et seq. to pay toward, or to provide funds to the mortgagor to pay toward all or part of the cost of completing any erection, construction, alteration or repair of any part of the mortgaged premises, the financing of which, in whole or in part, the Insured Mortgage is given to secure ("Advances"), shall be included within the coverage of the policy and not to exceed the face amount of the policy so long as the mortgagor is still the owner of the estate or interest covered by the policy.

The Company further insures the Insured that the lien of the Insured Mortgage as it secures Advances shall have the same priority over liens, encumbrances and other matters disclosed by the Public Records as if Advances had been made as of the Date of Policy, except for the following:

  1. Federal Tax Liens, notice of which is filed prior to the date of any Advances;
  2. Bankruptcies affecting the estate of the mortgagor prior to the date of any Advances;

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.

 

IN WITNESS WHEREOF, the Company has caused this endorsement to be issued and become valid when signed by an authorized officer or licensed agent of the Company.

 

Countersigned:

 

_______________________________________

Authorized Countersignature

 

TIRBOP-PA ENDORSEMENT 1015 (Open End Mortgage/Construction  Endorsement) (Rev'd 04/01/07)

LOAN POLICY ONLY

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