CLTA Assurances Concerning Covenants Endorsement 124.1
Attached to Policy No.
STEWART TITLE GUARANTY COMPANY
HEREIN CALLED THE COMPANY
The Company hereby insures the insured against loss or damage which the insured shall sustain by reason of, the failure of the covenants of the covenantor in favor of the 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) to be 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 insurance is hereby given should such covenants fail to bind a successive owner who derives title through: a) a tax deed; b) a foreclosure of a bond or assessment; c) enforcement 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.
This endorsement does not insure against loss or damage which the insured may sustain by reason of the non-performance of any said covenants.
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.
For issuing guidelines on this form, see Guidelines