GA Modified Endorsement 27-06 (Usury)

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  • Georgia
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GA Modified Endorsement 27-06 (Usury)

Form Document
V 1

ATTACHED TO POLICY NUMBER ______________________


File No.: ______________________

Charge: ______________________

The Company insures against loss or damage sustained by the Insured by reason of the invalidity or unenforceability of the lien of the Insured Mortgage as security for the Indebtedness because the loan secured by the Insured Mortgage violates the usury law of the state where the Land is located, excepting any of said loss or damage as may be caused as a result of a determination that the interest rate as calculated, either directly or indirectly, is in excess of five percent (5%) per month.

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.

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