STG Marketability Endorsement 1
This form should not be used if a comparable ALTA version is available. If a comparable ALTA version is available, the most current version of the ALTA form available in each state should be used, unless approved by a Stewart underwriter.
Attached To and Made a Part of
Policy No. __________
STEWART TITLE GUARANTY COMPANY
Notwithstanding the provisions of Item 7 of the cover sheet, this Policy, insures against loss or damage which the insured may sustain by reason of said defect; provided, however, that with respect to said defect, the offer of any _______________ licensed title insurance company to insure the land at its regular rates in the manner set forth above shall be conclusive evidence of the marketability of the title hereby insured. The Company agrees that upon request of any mortgagee or vendee of the insured (or the mortgagee of such vendee) it will issue its policy containing the same affirmative coverage set forth above, but subject to the same conditions.
THIS ENDORSEMENT MAY NOT BE ISSUED WITHOUT APPROVAL FROM STEWART TITLE GUARANTY UNDERWRITING PERSONNEL
The total liability of the Company under said policy , binder or commitment and under this and any prior endorsements thereto shall not exceed, in the aggregate, the amount of liability stated on the face of said policy, binder or commitment, as the same may be specifically amended in dollar amount by this or any prior endorsements, and the costs which the Company is obligated to pay under the Conditions and Stipulations of the policy.
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.
[Witness clause optional]
For issuing guidelines on this form, see Guidelines