STG Lenders Group 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
The Company has been advised by the insured that (i) the holder of the indebtedness secured by the insured mortgage is or will be a group of lenders, the composition of which may change from time to time by reason of the addition of new members, the depletion of members or changes in the relative participations of members, (the "Lender Group"); and (ii) the named insured is the agent (trustee) for the lender group and that it may be desirable from time to time to designate a successor entity to serve as such agent (trustee). In view of the foregoing and notwithstanding anything contained in this policy to the contrary, the Company agrees as follows:
For the purpose of clause (b) of Exclusions from Coverage Paragraph 3, neither changes in the composition of the lender group nor redesignations of the agent (trustee) shall be deemed to be an acquisition by a claimant.
THIS ENDORSEMENT MAY NOT BE ISSUED WITHOUT APPROVAL FROM STEWART TITLE GUARANTY UNDERWRITING PERSONNEL
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