STG Fairway Endorsement 3
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 Forming a Part of
Owner's Policy No. __________
STEWART TITLE GUARANTY COMPANY
LIMITED LIABILITY COMPANY
The Company hereby agrees that, notwithstanding anything to the contrary contained in this policy, in the event of loss or damage insured under this policy, the Company shall not deny liability under this policy or raise a defense to any claim made under this policy solely on the ground that, after the Date of Policy, a dissolution or termination of the limited liability company has occurred or a new limited liability company or other entity has been created by reason of any one or more:
(i) transfer(s) of all or any part of the limited liability company members' interests in the insured to any transferee(s),
(ii) withdrawal(s) of one or more of the members from the limited liability company, or
(iii) addition(s) of one or more persons or entities as members of the limited liability company;
provided that the insured limited liability company remains the record title holder and no new limited liability company is explicitly formed.
The Company reserves all of its rights and defenses under this policy which the Company would have had against the named insured or its constituent members before or after any withdrawal, transfer or substitution.
Nothing contained herein shall be construed as: (i) extending the insurance hereunder as to matters attaching, arising or created after the Date of Policy, or (ii) insuring the status of the insured as a limited liability company after any transfer, withdrawal or addition.
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.
For issuing guidelines on this form, see Guidelines