OTIRO Endorsement No. 215.1-06 Nonimputation - Additional Insured Endorsement

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OTIRO Endorsement No. 215.1-06 Nonimputation - Additional Insured Endorsement

Form Document
04/11/2011
V 4

Entity as the named Insured in the policy and vestee of the insured estate or interest identified in Schedule A]

ENDORSEMENT

ATTACHED TO POLICY NO.

ISSUED BY

STEWART TITLE GUARANTY COMPANY

Date :
Premium :

For purposes of the coverage provided by this endorsement,

[identify the "incoming" partner, member or shareholder]

("Additional Insured") is added as an Insured under the policy. By execution below, the Insured named in Schedule A acknowledges that any payment made under this endorsement shall reduce the Amount of Insurance as provided in Section 10 of the Conditions.

The Company agrees that it will not assert the provisions of Exclusions from Coverage 3(a), (b), or (e) to deny liability for loss or damage otherwise insured against under the terms of the policy solely by reason of the action or inaction or Knowledge, as of Date of Policy, of

[identify, as applicable, the existing and/or exiting partner(s) of the insured partnership entity, member(s) or manager(s) of the insured limited liability company entity, or officer(s) and/or director(s) of the insured corporate entity]

imputed to the Additional Insured by operation of law, to the extent of the percentage interest in the Insured acquired by Additional Insured as a purchaser for value without Knowledge of the asserted defect, lien, encumbrance, adverse claim, or other matter insured against by the policy.

AGREED AND CONSENTED TO:

_________________________________
INSURED

[Witness clause optional]

Order Reference:


STEWART TITLE GUARANTY COMPANY

BY: _______________________________
Authorized Signer

For issuing guidelines on this form, see Guidelines.