CLTA Violation of CC&R by Drilling Operations Endorsement Guideline 100.25
Explanation:Provides an CLTA lender with assurance against loss by reason of the violation of CC&Rs occasioned by subsurface oil drilling operations.
Underwriting Requirements:(1) This endorsement is used in conjunction with the CLTA Oil Leasehold Policies.
(2) The CC&Rs must be thoroughly examined in order to determine that drilling, producing, developing, and extracting from the land are not prohibited.
(3) Approval to issue this endorsement must be given by the appropriate Stewart Title Guaranty underwriting personnel.
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):