BH Non-Imputation Endorsement (08-31-2022)

NON IMPUTATION ENDORSEMENT
(Bahamas – Version August 2022)

ISSUED BY STEWART TITLE LIMITED (the “Company”)

Agent’s File No.:__________________________________

Endorsement to Policy No.: _________________________________

Date of Issuance: _________________________________

The Company hereby agrees that it will not assert the provisions of Exclusions from Coverage 3(a), (b), or (e) to deny liability for loss or damage otherwise insured against under the terms of the policy solely by reason of the action or inaction or knowledge, as of Date of Policy, of

[identify exiting or contributing partner(s) of the insured partnership entity, member(s) or manager(s) of the insured limited liability company entity, or officer(s) and/or director(s) of the insured corporate entity],

whether or not imputed to the insured by operation of law, but only to the extent that

[identify the "incoming" partners, members or shareholders]

acquired its interest in the insured as a purchaser for value without actual knowledge of the asserted defect, lien, encumbrance, adverse claim, or other matter insured against by the policy.

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.

This endorsement is only valid when it bears an authorized Stewart agent countersignature.

Countersigned by Authorized Stewart Agent:

_____________________________________
Authorized Signatory of Agent

Agent: _____________________________________

Address: ___________________________________

Issuing Guidelines:  This endorsement is designed for use with a Loan Policy.

1. We require execution of the ALTA Non-imputation Affidavit 1 by those persons (Affiants) whose knowledge, action or inaction is covered by the endorsement.
2. We require an explanation of the transaction and reasons for the endorsement.  The transaction may, for instance, suggest other issues, such as creditor's rights.
3. The Endorsement should show in the first paragraph the names of specific persons (e.g. the names of the officers, directors, shareholders, members, partners) whose knowledge and participation in the insured entity is of concern.  The second paragraph should name the new participants or investors, who are concerned about the knowledge and participation of other parties.  The names should be specific and should not be general (e.g. insert "Jane Doe" and do not insert "all officers (or shareholders) of XYZ, Inc.")
4.   The "Name of Insured" in Schedule A of the Owner's Policy should be the record owner.
5. A Senior Underwriter must approve issuance of this Endorsement.