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.
BALLOON MORTGAGE MODIFICATION ENDORSEMENT
STEWART TITLE GUARANTY COMPANY
"1. Schedule A of the above policy is hereby amended to reflect the recording of a Modification Agreement dated __________________, and recorded in Book ______, at Page ______ of the Official Records, which Modification extends the maturity date of the insured mortgage to _______________.
2. The Company hereby insures that the said Modification is valid and enforceable in its terms and that the insured mortgage, as modified, shares the same priority as the mortgage originally insured by said policy.
3. In all other respects, the coverage under the above policy remains unchanged as of the effective date shown in the original policy."
"This endorsement does not insure against loss or damage based upon (a) usury or (b) any consumer protection or truth-in-lending law."
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]
This endorsement is issued as part of the policy. Except as it expressly states, it does not (i) modify any of the terms and provisions of the policy, (ii) modify any prior endorsements, (iii) extend the Date of Policy or (iv) increase the Amount of Insurance. To the extent a provision of the policy or a previous endorsement is inconsistent with an express provision of this endorsement, this endorsement controls. Otherwise, this endorsement is subject to all of the terms and provisions of the policy and of any prior endorsements.
Copyright 1970-2022 Stewart Title Guaranty Company. All rights reserved. The use of this form (or any derivative thereof) is restricted to Stewart Title Guaranty Company, it’s issuing agents, and affiliates in good standing as of the date of use. All other uses are prohibited.
For issuing guidelines on this form, see Guidelines.