OR Line of Credit Endorsement 7.19
ENDORSEMENT TO TITLE POLICY
STEWART TITLE GUARANTY COMPANY
HEREIN CALLED THE COMPANY
The Company hereby assures the Insured that, notwithstanding any terms or provisions in this Policy to the contrary:
Advances made subsequent to the Date of Policy pursuant to the terms of the " _________
________________________________________ ", which are secured by the insured mortgage, and which are made before __________________ shall be included within the coverage of this Policy not to exceed the face amount of the policy, provided that the vestee is the owner of the estate or interest covered by the policy at the date any such advances are made and subject to the limitations hereinafter set forth.
The Company further assures the Insured that the subsequent advances shall have the same priority over liens, encumbrances and other matters disclosed by the public records as do advances secured by the insured mortgage as of Date of Policy, except for the following matters, if any, occurring subsequent to policy date:
a. Federal tax liens
b. Liens, encumbrances or other matters, the existence of which are actually known to the Insured prior to date of the advances if the advances are made subsequent to the occurrence of the event of default under the terms of the insured mortgage and prior to a cure of the default.
c. Bankruptcies affecting the estate or interest of the vestee prior to date of the advances.
THIS ENDORSEMENT MAY NOT BE ISSUED WITHOUT APPROVAL FROM STEWART TITLE GUARANTY UNDERWRITING PERSONNEL.
The total liability of the Company under the policy and any endorsements therein shall not exceed, in the aggregate, the face amount of the policy and costs which the Company is obligated under the conditions and stipulations thereof to pay.
This Endorsement is made a part of said policy and is subject to the schedules, conditions and stipulations therein, except as modified by the provisions hereof.
Nothing herein contained shall be construed as extending or changing the effective date of said policy, unless otherwise expressly stated.
Signed under seal for the Company, but this Endorsement is to be valid only when it bears an authorized countersignature, this _____ day of ___________ 20____.
No guidelines are available for this form at this time.