STG Amendment of Covered Risk 10 (on 2021 ALTA Loan Policy) 7-1-2021

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STG Amendment of Covered Risk 10 (on 2021 ALTA Loan Policy) 7-1-2021

Form Document
08/17/2021
V 6

STG Amendment of Covered Risk 10 (on 2021 ALTA Loan Policy) 7-1-2021

Issued By
Stewart Title Guaranty Company

File No.: ________________

 

Covered Risk 10 of the 2021 ALTA Loan Policy is amended to:

1.     Delete Covered Risk 10, which reads as follows:

10.  The lack of priority of the lien of the Insured Mortgage upon the Title over any other lien or encumbrance on the Title as security for the following components of the Indebtedness:

a.   the amount of the principal disbursed as of the Date of Policy;

b.   the interest on the obligation secured by the Insured Mortgage;

c.   the reasonable expense of foreclosure;

d.   amounts advanced for insurance premiums by the Insured before the acquisition of the estate or interest in the Title; and

e.   the following amounts advanced by the Insured before the acquisition of the estate or interest in the Title to protect the priority of the lien of the Insured Mortgage:

i.    real estate taxes and assessments imposed by a governmental taxing authority; and

ii.    regular, periodic assessments by a property owners’ association.

2.     And substitute the following new Covered Risk 10, which reads as follows:

10.  The lack of priority of the lien of the Insured Mortgage upon the Title over any other lien or encumbrance on the Title.

Date: ______________

 

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