OTIRO Endorsement No. 45 Pro Tanto Endorsement

ENDORSEMENT

ATTACHED TO POLICY NO.

ISSUED BY

STEWART TITLE GUARANTY COMPANY

Date :

Premium :

The Company hereby incorporates into the Conditions and Stipulations of the policy the following:

This policy is issued simultaneously with a Policy No. to . Any payment by the Company under said policy shall reduce pro tanto the liability of the Company under this policy.

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.

Order Reference:____________________

STEWART TITLE GUARANTY COMPANY

BY: _______________________________
Authorized Signer

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