STG Clogging Endorsement (Option Invalidity) 1
Attached to and Forming a Part of
Policy No. __________
STEWART TITLE GUARANTY COMPANY
The Company hereby insures against loss that the Insured shall sustain by reason of a final judgment determining that the Option to Purchase Real Property in accordance with the terms set forth in the Promissory Note secured by the lien of the insured mortgage is invalid or unenforceable because said Option constitutes a "clog" on the mortgagor's equity of redemption, a fettering of the property, a granting of a collateral advantage or other restraint on the mortgagor's equity of redemption, or an unreasonable restraint on the mortgagor's rights of alienation.
THIS ENDORSEMENT MAY NOT BE ISSUED WITHOUT APPROVAL FROM STEWART TITLE GUARANTY UNDERWRITING PERSONNEL
This Endorsement is made a part of the Policy and is subject to the Schedules, Exclusions, and Conditions and Stipulations therein except as modified by the provisions hereof. The total liability of the Company under said Policy and all endorsements attached thereto shall not exceed, in the aggregate, the amount of said Policy and costs which Company is obligated under the Conditions and Stipulations thereof to pay; and nothing contained herein shall be construed as extending or changing the Effective Date of said Policy.
[Witness clause optional]
For issuing guidelines on this form, see Guidelines