CLTA Mechanic's Lien Coverage Endorsement (06-03-05) 101.18

ENDORSEMENT

Attached to Policy No.

Issued by

STEWART TITLE GUARANTY COMPANY


The Company hereby insures the owner of the indebtedness secured by the insured mortgage against loss which the Insured shall sustain by reason of any statutory lien for labor or material attaching to the estate arising out of the work of improvement referred to in the notice of completion recorded____________________________________________ as Instrument No.______________

Loss as to the matters insured against by this endorsement shall not include loss sustained or incurred by reason of the refusal of any person to purchase, lease or lend money on the estate or interest in the land covered by the policy.

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

The total liability of the Company under the policy and any endorsements therein shall not exceed, in the aggregate, the face amount of the policy and costs which the Company is obligated under the conditions and stipulations thereof to pay, provided that liability under this endorsement is limited to the amount necessary to effect the release or discharge of any such statutory lien together with costs which the Company is obligated to effect the release or discharge of the statutory lien prior to the entry of a final judgment of foreclosure of the lien.

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

 

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