CA - STG Modified 122 Construction Loan Advance

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  • California
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CA - STG Modified 122 Construction Loan Advance

Form Document




File No:_________________                                                  Charge:________________________        

The Insured hereby represents that an advance will be made in the sum of ___________________.

This increases the aggregate amount of coverage, including this current disbursement to ____________________.

As of the date of this endorsement the Company insures against loss or damage sustained by reason of: 

  1. Any defect in or lien or encumbrance affecting the Title and recorded in the Public Records subsequent to Date of Policy other than the following: 

  2. Any subsisting tax or assessment lien which is prior to the lien of the Insured Mortgage, or than the following: 

  3. Title to the Land being vested other than as shown in Schedule A according to the Public Records; 

  4. The failure of the advance identified above to be secured by the Insured Mortgage; 

  5. Lack of priority of the Insured Mortgage with respect to such advance over any liens, encumbrances or other matters shown by the Public Records, affecting the Land other than those shown in Schedule B as prior to the Insured Mortgage and the matters shown in paragraph (2) herein, except: 

  6. Lack of priority of the lien of the insured mortgage over any statutory lien for services, labor or material arising out of the work of improvement under construction or completed, for which the insured has advanced funds, but only to the extent such services, labor or material were furnished prior to

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.

Dated:  _____________________

No guidelines are available for this form at this time.