OR Standard Bondholder's Coverage Endorsement-Lease or Sublease Validity 7.14
STANDARD BONDHOLDER'S COVERAGE ENDORSEMENT
ATTACHED TO POLICY NO.
The Company assures the owners of the ____________________ referred to in ________ of Schedule ___ of this policy, as their interests may appear that:
The (sub)lease referred to in ____ of Schedule ___ of this policy is valid at the date of this olicy as to the land described therein, and at the commencement of its term will be binding as to said land, subject to the effect of:
a. Any facts, rights, interests or claims which are not shown by the public records but which could be ascertained by making inquiry of the lessors, or their successors in interest, in the lease referred to in ____ Schedule ___ ; (or the sublessors, or their successors in interest, in the sublease above referred to;)
b. Any failure to comply with the covenants, conditions and provisions of said lease (or of said sublease);
c. Any acts of a party or parties to said (sub)lease, or of its or their successors in interest, or any action in eminent domain, by which the rights or interests or obligations thereunder are released or impaired; and
d. Any termination of said (sub)lease under any of the provisions thereof.
The Company hereby insures said assured against loss of principal, interest or other sums secured by the Indenture referred to in ____ of Schedule ____ of this policy which said assured shall sustain in the event the assurances in this endorsement prove to be incorrect.
The total liability of the Company under said policy and any endorsements therein shall not exceed, in the aggregate, the face amount of said 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.
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