NM Restrictions, Encroachments, and Mineral Endorsement (Owner's Policy - Improved Land) Guideline 57

Explanation:

This endorsement to the Owner's policy insures against violations of restrictions, encroachments over easements, building lines and property lines, and damage by reason of mineral development. It is similar to other owner's comprehensive endorsements. It is issued on improved land.

Underwriting Requirements:

(1) Restrictions:

(2) Survey and Encroachments:

3) Minerals:

In order to provide the coverage of paragraph 2(b) because of development of minerals, verify that there are no outstanding minerals (other than royalties) or that surface rights have been waived. Please call our underwriting personnel if you have any questions relating to adequacy of surface waivers. If you cannot comply with these guidelines, delete paragraph 2(b).

(4) Notices of Violation of Environmental Covenants
If a notice of violation of an environmental covenant has been recorded, except to it in Schedule B.

(5) Rates:
You must charge the regular rate for Survey Coverage on the Owner's Policy (15% of the full Basic Premium Rate) and for modification of Standard Exception 7 ($25.00). The Charge for this Endorsement is an additional 10% of the Basic Premium Rate.

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The underwriting guidelines contained herein have been provided for general reference. The facts, circumstances, and location of the subject property should be considered when determining the issuance of the requested form or endorsement. Please note that all of the forms and endorsements included in this system may not be available in all states. Accordingly, please contact the appropriate Stewart Title Guaranty Company underwriting personnel in order to determine availability.

Compliance with the underwriting guidelines contained herein in no way obligates Stewart Title Guaranty Company to issue any form or endorsement.