PA 1033 ALTA 9.6-06 Private Rights 10-1-17

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PA 1033 ALTA 9.6-06 Private Rights 10-1-17

Form Document
V 5


ATTACHED TO POLICY NUMBER ______________________



File No.: ______________________

Charge: ______________________

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 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) a private charge or assessment; (ii) an option to purchase; (iii) a right of first refusal; or (iv) 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 Loan Policy if enforcement of a Private Right in a Covenant affecting the Title at Date of Policy (a) results in the invalidity, unenforceability or lack of priority of the lien of the Insured Mortgage, or (b) causes a loss of the Insured’s Title acquired in satisfaction or partial satisfaction of the Indebtedness.

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.

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.