OTIRO Endorsement No. 209.9-06 Private Rights - Owner’s Policy

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OTIRO Endorsement No. 209.9-06 Private Rights - Owner’s Policy

Form Document
09/24/2014
V 4

ENDORSEMENT

ATTACHED TO POLICY NO.

ISSUED BY

STEWART TITLE GUARANTY COMPANY

Date:

Premium:

 

1. The insurance provided by this endorsement is subject to the exclusions in Section 4 of this endorsement; and the Exclusions from Coverage, the Exceptions from Coverage contained in Schedule B, and the Conditions in the policy.

 

2. For the purposes of this endorsement only:

a. “Covenant” means a covenant, condition, limitation or restriction in a document or instrument recorded in the Public Records at Date of Policy.

b. “Private Right” means (i) an option to purchase; (ii) a right of first refusal; or (iii) a right of prior approval of a future purchaser or occupant.

 

3. The Company insures against loss or damage sustained by the Insured under this Owner’s Policy if enforcement of a Private Right in a Covenant affecting the Title at Date of Policy based on a transfer of Title on or before Date of Policy causes a loss of the Insured’s Title. 

 

4. This endorsement does not insure against loss or damage (and the Company will not pay costs, attorneys' fees, or expenses) resulting from:

a. any Covenant contained in an instrument creating a lease;

b. any Covenant relating to obligations of any type to perform maintenance, repair, or remediation on the Land;

c. any Covenant relating to environmental protection of any kind or nature, including hazardous or toxic matters, conditions, or substances; or

d. any Private Right in an instrument identified in Exception(s) ______ in Schedule B.

 

 

Order Reference:

 

Witness clause optional

For issuing guidelines on this form, see Guidelines.