TIRSA NON IMPUTATION ENDORSEMENT Additional Insured (Owner's Policy)

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TIRSA NON IMPUTATION ENDORSEMENT Additional Insured (Owner's Policy)

Form Document
V 1



Additional Insured


Attached to and made a part of Policy Number ____________________________________

The Company insures___________, the Additional Insured, that, notwithstanding the provisions in paragraph number 3(a) and (b) of the Exclusions From Coverage, in the event of loss or damage otherwise insured against under the terms of the Policy, the Company will not deny its liability thereunder to the Additional Insured on the ground that the Insured had knowledge of any matter solely by reason of notice thereof imputed to it through___________ [Identify the exiting and/or existing direct or indirect: partner(s),member(s), manager(s), shareholder(s) director(s) or officer (s) of the Insured by operation of law. The insurance afforded hereby is limited to the Additional Insured named herein and does not inure to the benefit of nor shall the Company be required to pay to or on behalf of any other individuals or other entities involved in or connected with the Insured as recited in Schedule A of the policy.

Section 8(a) of the Conditions is amended to read as follows:

(a) The liability of the Company to the Additional Insured shall not exceed the least of:

(i) _____% of the actual monetary loss or damage sustained or incurred by the Insured of which the Additional Insured is a partner/shareholder/member, or if the interest of the Additional Insured in said Insured is reduced below _____%, such lesser proportion of the actual loss of said Insured, or

(ii) ______% of the difference between the value of the insured estate or interest as insured and the value of the insured estate or interest subject to the defect, lien or encumbrance insured against by the Policy, or

(iii) The Amount of Insurance stated in Schedule A;

provided, however, that in no event shall the total liability of the Company under the Policy, including this endorsement, exceed in the aggregate, the Amount of Policy and costs which the Company is obligated to pay under the Conditions therein.

The Amount of Insurance under the Policy and this endorsement shall be reduced by any payment which may be received by the Additional Insured under any other policy of title insurance affecting the premises insured by the Policy.

This endorsement is issued for the benefit of {insert name of Investor} which the Company has been advised is the holder of a {XX%} interest in {insert name of Vestee}. The Policy insures {insert name of Vestee} is the owner of the estate or interest in the Real Property described in Schedule A herein. The Policy does not insure that {insert name of Investor} is the holder of an interest in {insert name of the Vestee} nor the extent of that interest.

This endorsement is made a part of the Policy, of even date herewith 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 Date of Policy and any prior endorsements, nor does it increase the Amount of Insurance.


AGREED AND CONSENTED TO: ____________________________




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