OR Insured Trustee Endorsement 7.42
ENDORSEMENT TO TITLE POLICY
STEWART TITLE GUARANTY COMPANY
HEREIN CALLED THE COMPANY
ENDORSEMENT ATTACHED TO POLICY NO.
STEWART TITLE OF OREGON
The Company hereby amends the Policy as follows:
(1) The insured name in Schedule A is hereby changed to:
[ ______________________ as Trustee(s) of the _________________________ Trust under Trust Agreement dated _______________.]
(2) In addition to the matters excluded under the Exclusions from Coverage, the following matters are expressly excluded from coverage of the Policy, and the Company will not pay loss or damage, costs, attorneys' fees or expenses which arise by reason of:
Defects, liens, encumbrances, adverse claims or other matters resulting in loss or damage which would not have been sustained if title to the estate or estate interest described in Schedule A of the Policy were vested in the above named insured at the date of this endorsement.
Notwithstanding the provisions of Paragraph 3(e) of the Exclusions from Coverage of the Policy, the Company assures the insured that said provisions will not be utilized by the Company as a defense in any claim solely because the insured acquired title by gift rather than by purchase.
In the event of the claim under the Policy, the Company may require verification that the insured claimant is the above named insured fiduciary, or the fiduciary successor of the above named insured, or the distributee of the land under the named trust agreement. The Company has not duty of inquiry into the fiduciary authority of the insured named in this endorsement, but may process, settle or pay a claim with such named insured unless notified in writing by a successor fiduciary or distributee under the named trust agreement that the true authority of the above named insured has lapsed.
This Endorsement is made a part of the policy and is subject to all the terms and provisions thereof and of any prior endorsements thereto. Except to the extent expressly stated, this Endorsement 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 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 countersignature, this the _____ day of ___________ 20_____.
No guidelines are available for this form at this time.