CO Mechanic's Lien Coverage Endorsement Guideline 101.3
Explanation:Provides the lender with insurance concerning the priority of the lender's lien over mechanic's liens arising out of services, labor or material contracted for and commenced subsequent to date of policy, not financed in whole or in part by the proceeds of the construction mortgage.
Underwriting Requirements:(1) Same requirements as for Colorado endorsement 101.
(2) This endorsement is to be attached to an ALTA Construction Loan Policy only.
(3) Use of this endorsement is not recommended in Colorado. Colorado endorsement 101 attached to an ALTA Loan Policy 1992 is the preferred endorsement.
(4) The appropriate Stewart Title Guaranty underwriting personnel must be contacted and approve the issuance of this endorsement.
The underwriting guidelines contained herein have been provided for general reference. The facts, circumstances, and location of the subject property should be considered when determining the issuance of the requested form or endorsement. Please note that all of the forms and endorsements included in this system may not be available in all states. Accordingly, please contact the appropriate Stewart Title Guaranty Company underwriting personnel in order to determine availability.
Compliance with the underwriting guidelines contained herein in no way obligates Stewart Title Guaranty Company to issue any form or endorsement.
This guideline applies to the following form(s):