CLTA 119.4 (ARCHIVED) Validity of Sublease, Joint Powers (11-04-10)

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CLTA 119.4 (ARCHIVED) Validity of Sublease, Joint Powers (11-04-10)

Form Document
04/05/2022
V 6

ENDORSEMENT
Attached to Policy No. ___________
Issued by
STEWART TITLE GUARANTY COMPANY

The Company hereby insures the owners of the name (name or title of bonds) referred to in Schedule A, as their interests may appear, against loss or damage sustained by reason of the failure of (i) the sublease referred to in paragraph ________ of Part II of Schedule B, hereinafter referred to as "Sublease," to be valid at Date of Policy as to the land described therein, and (ii) at the commencement of its term to be binding as to the land described therein, subject to the following:

(a) Any facts, rights, interests or claims which are not shown by the public records but which could be ascertained by making inquiry of the lessor under either the lease referred to in Schedule A or the Sublease;

(b) Any failure to comply with the terms and provisions of the lease referred to in Schedule A or the Sublease;

(c) Any acts of a party to the Sublease, or its successors in interest, by which any rights, interests or obligations thereunder are released or impaired; and

(d) Any termination of the Sublease pursuant to the terms and provisions thereof.

This endorsement does not insure against loss or damage, and the Company will not pay costs, attorneys’ fees, or expenses, by reason of any claim that arises out of the operation of federal bankruptcy, state insolvency, or similar creditors’ rights laws asserting:

1. a fraudulent conveyance or fraudulent transfer; or

2. a preferential transfer.

BLANK TITLE INSURANCE COMPANY

Dated: By

The Company hereby insures the owners of the name (name or title of bonds) referred to in Schedule A, as their interests may appear, against loss or damage sustained by reason of the failure of (i) the sublease referred to in paragraph of Part II of Schedule B, hereinafter referred to as "Sublease," to be valid at Date of Policy as to the land described therein, and (ii) at the commencement of its term to be binding as to the land described therein, subject to the following:

(a) Any facts, rights, interests or claims which are not shown by the public records but which could be ascertained by making inquiry of the lessor under either the lease referred to in Schedule A or the Sublease;

(b) Any failure to comply with the terms and provisions of the lease referred to in Schedule A or the Sublease;

(c) Any acts of a party to the Sublease, or its successors in interest, by which any rights, interests or obligations thereunder are released or impaired; and

(d) Any termination of the Sublease pursuant to the terms and provisions thereof.

This endorsement does not insure against loss or damage, and the Company will not pay costs, attorneys’ fees, or expenses, by reason of any claim that arises out of the operation of federal bankruptcy, state insolvency, or similar creditors’ rights laws asserting:

1. a fraudulent conveyance or fraudulent transfer; or

2. a preferential transfer.

STEWART TITLE GUARANTY COMPANY

By:

Dated:

For issuing guidelines on this form, see Guidelines.