STG Shopping Center Endorsement (Indiana Modified) (E-2622)

IN Shopping Center Endorsement

IN SHOPPING CENTER ENDORSEMENT

 

 

 

 

ENDORSEMENT

ATTACHED TO POLICY SERIAL NUMBER__________________

ISSUED BY

STEWART TITLE GUARANTY COMPANY

HEREIN CALLED THE COMPANY

 

 

 

The Company hereby assures the Insured:

 

That, as shown by the public records, the covenants of _____________________, as covenantor, in favor of

__________________________, as covenantee, set out in Section(s) ____, ______, and _______ of the instrument recorded__________________________ to do or refrain from doing some act relating to the use, repair, maintenance or improvement of, or payment of taxes and assessments on the real property, or some part thereof, described as (description of burdened land of covenantor) are binding upon the covenantor and each successive owner, during his ownership, of any portion of such real property, and upon each person having any interest therein derived from the covenantor or through any such successive owner thereof, except a mortgagee, or trustee or beneficiary of a deed of trust, while not in possession in such capacity.

 

Provided, however, that no assurance is hereby given that such covenants shall bind a successive owner who derives his title through; (a) tax deed; (b) a foreclosure of a bond or assessment; (c) endorsement of a federal tax lien; (d) bankruptcy, as trustee or otherwise; (e) a right or lien existing prior to the date of recording of the instrument containing said covenants.

 

The Company hereby insures the Insured against loss which said Insured shall sustain in the event that the assurance herein shall prove to be incorrect; provided, however, that this endorsement does not insure (1) the performance of any of said covenants, nor (2) against any judgment or order of court invalidating any of said covenants as being in restraint upon fair trade or in restraint upon fair competition.

 

Provided, further, that the Company shall not be liable for costs, attorneys’ fees and expenses that may be incurred in connection with

litigation to the extent it is founded upon allegations that such covenants are in restraint upon fair trade or in restraint upon fair competition.

 

The total liability of the Company under said Policy and any endorsement therein shall not exceed, in the aggregate, the face amount of said Policy and costs which the Company is obligated to pay under the Conditions and Stipulations.

 

This endorsement is made a part of the policy and is subject to all of the terms and provisions thereof and of any prior endorsements thereto. Except to the extent expressly stated, it neither modifies any of the terms and provisions of the policy and any prior endorsements, nor does it extend the effective date of the policy and any prior endorsements, nor does it increase the face amount thereof.

 

Signed under seal for the Company, but this Endorsement is to be valid only when it bears an authorized signature, this the ________ day of _____________________, 20__.

For issuing guidelines on this form, see Guidelines