STG Fairway 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 Forming a Part of
Owner's Policy No. __________
STEWART TITLE GUARANTY COMPANY
PARTNERSHIP - PERMITTED TRANSFER ENDORSEMENT
The Company hereby assures and agrees with the insured that, notwithstanding anything to the contrary contained in this Policy, in the event of loss or damage insured against under this Policy, the Company shall not deny liability under this Policy to the insured on the ground that after the Effective Date of this Policy a dissolution or termination of the insured partnership has occurred or a new partnership has been formed solely by reason of any one or more transfers of all or any part of the partnership interests of:
(i) any one or more of the general partners of the insured to a Designated Transferee and/or;
(ii) any one or more of the limited partner(s) of the insured and/or;
(iii) any one or more of the limited partner's interest to the current general partner or a Designated Transferee (hereafter called "Permitted Transfers").
THIS ENDORSEMENT MAY NOT BE ISSUED WITHOUT APPROVAL FROM STEWART TITLE GUARANTY UNDERWRITING PERSONNEL
The Company hereby agrees that it shall be and remain liable to any successor of the named insured resulting from any such Permitted Transfer, in accordance with all of the terms and provisions of this Policy, notwithstanding any such transfer of partnership interests or admission of new or substituted general or limited partners. The benefits of the insurance coverage provided for herein shall be limited to the Date of the Policy and shall be subject to the Exclusions From Coverage, the Schedules and the Conditions and Stipulations of the Policy, and any rights or defenses the Company would have had against the named insured or its constituent partners before or after any withdrawal or substitution thereof. A Designated Transferee shall be:
This Endorsement should not be construed as providing any insurance (a) as to matters attaching or created after date of Policy; or (b) as to the status of the insured after any permitted transfer.
This Endorsement is made a part of the Commitment or Policy. It is subject to all the terms of the Commitment or Policy and prior endorsements. Except as expressly stated on this Endorsement, the terms, dates and amount of the Commitment or Policy and prior endorsements are not changed.
[Witness clause optional]
For issuing guidelines on this form, see Guidelines