CLTA Modification of Policy to Insure Two Liens on One Policy Endorsement (06-03-05) 105.1

ENDORSEMENT

Attached to Policy No.

Issued by

STEWART TITLE GUARANTY COMPANY


The insuring clause numbered as paragraph 6 on the first page of the policy is hereby deleted and there is substituted in lieu thereof the following:

"6. Priority of any lien or encumbrance over the lien of the mortgage referred to in paragraph____ of Part II of Schedule B and priority of any lien or encumbrance over the lien of the mortgage referred to in paragraph____ of Part II of Schedule B, the said mortgages being shown in Part II of Schedule B in the order of their priority."

Except where used in this endorsement, the term "mortgage" wherever used in said policy shall be construed as referring to both of the mortgages described in paragraphs____ and____ of Part II of Schedule B.

Section 11 of the Conditions and Stipulations is hereby amended by adding a subparagraph (c) as follows:

"(c) If, under the provisions of this policy, a loss shall be payable to the owner or owners of an indebtedness secured by a mortgage shown in Part II of Schedule B, and if there be more than one mortgage covered by this policy, then such loss shall be payable first to the insured owner of the indebtedness secured by the mortgage shown in paragraph____ of Part II of Schedule B, and if such ownership vests in more than one, payment shall be made ratably as their respective interests may appear, and thereafter, such loss shall be payable to the owner of the mortgage shown in paragraph____ of Part II of Schedule B, and if more than one, then to such insured ratably as their respective interests may appear."

If this endorsement is attached to a CLTA Standard Coverage Policy - 1973, then the foregoing reference to Section 11(c) shall be deemed to refer to paragraph 6(d).

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.


STEWART TITLE GUARANTY COMPANY

For issuing guidelines on this form, see Guidelines