CLTA Mechanic's Lien Coverage Endorsement Guideline 101.10

Explanation:

Provides the lender with insurance concerning the priority of the lender's lien after a valid notice of completion has been recorded which describes a specific work of improvement for a portion of the land described in the policy.

Underwriting Requirements:

(1) This endorsement may be issued if 60 days have passed from of the recording of notice of completion and no claims or liens arising from work referred to within the notice have been filed.

(2) An indemnity appropriate to the specific situation should be taken from the appropriate parties and approved by Stewart Title Guaranty underwriting personnel.

(3) The liability of this endorsement must be limited to a specified sum.

(4) This guideline is for California property. The appropriate Stewart Title Guaranty underwriting personnel must be contacted prior to issuance in other states.

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.

This guideline applies to the following form(s):

CLTA Mechanic's Lien Coverage Endorsement (06-03-05) 101.10