STG Construction Loan 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.
CONSTRUCTION LOAN ENDORSEMENT
ATTACHED TO POLICY NO. __________
STEWART TITLE GUARANTY COMPANY
1. Schedule A of the above policy is hereby amended in the following particulars:
(a) The effective Date of Policy is hereby extended to ___________________________. [Alternative: "The effective Date of Policy remains the date stated in Schedule A, or as otherwise changed by prior endorsement."]
(b) The Amount of Insurance is hereby increased from $_______________ by (plus) $________________ to $_______________. [Alternative: "The Amount of Insurance remains the amount stated in the pending disbursement clause (endorsement) in the policy, or as otherwise changed by prior endorsement."]
2. Schedule B of the above policy is hereby amended in the following particulars:
(a) Matters which would be shown by a correct current survey and inspection of the Land subsequent to the Date of Policy stated in Schedule A and any endorsements or affirmative coverages that would be affected by such matters.
(b) The following numbered exceptions are hereby deleted: None (Except to reflect change in tax year)
(c) The following numbered exceptions are hereby added: (Reflect change in tax year to show current taxes or assessments). [Alternative: "Note: Taxes are not further examined."]
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.
Date of Endorsement: _______________________
[Witness clause optional]
For issuing guidelines on this form, see Guidelines