PA 1660 ALTA 34-06 Identified Risk Coverage 10-1-17

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PA 1660 ALTA 34-06 Identified Risk Coverage 10-1-17

Form Document
07/30/2020
V 5

TIRBOP – PA ENDORSEMENT 1660 (ALTA 34-06 IDENTIFIED RISK COVERAGE)

ATTACHED TO POLICY NUMBER ______________________

ISSUED BY

STEWART TITLE GUARANTY COMPANY

File No.: ______________________

Charge: ______________________

1.     As used in this endorsement "Identified Risk" means _________________________________ described in Exception ______________________  of Schedule B.

2.     The Company insures against loss or damage sustained by the Insured by reason of:

a.      A final order or decree enforcing the Identified Risk in favor of an adverse party; or

b.     The release of a prospective purchaser or lessee of the Title or lender on the Title from the obligation to purchase, lease or lend as a result of the Identified Risk, but only if

i.      there is a contractual condition requiring the delivery of marketable title, and

ii.     neither the Company nor any other title insurance company is willing to insure over the Identified Risk with the same conditions as in this endorsement.

3.     The Company will also pay the costs, attorneys' fees, and expenses incurred in defense of the Title by reason of the Identified Risk insured against by Paragraph 2 of this endorsement, but only to the extent provided in the Conditions.

4.     This endorsement does not obligate the Company to establish the Title free of the Identified Risk or to remove the Identified Risk, but if the Company does establish the Title free of the Identified Risk or removes it, Section 9(a) of the Conditions applies.

IN WITNESS WHEREOF, the Company has caused this endorsement to be issued and become valid when signed by an authorized officer or licensed agent of the Company.

No guidelines are available for this form at this time.