OTIRO No. 79.2 Revolving Type Loan Credit Line Increase (9-4-23)

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OTIRO No. 79.2 Revolving Type Loan Credit Line Increase (9-4-23)

Form Document
11/20/2023
V 4

OTIRO 79.2 REVOLVING TYPE LOAN CREDIT LINE INCREASE   

ATTACHED TO POLICY NUMBER _____________

 

ISSUED BY

STEWART TITLE GUARANTY COMPANY

Order Number: ______________

Date: ______________

Premium: ______________

By an agreement executed by ______________ dated ______________, recorded ______________, the Insured Mortgage referred to in Schedule A or the obligation secured thereby has been modified to provide for, without limitation, a $ ______________ increase in the amount of the Indebtedness secured by the Insured Mortgage, resulting in a total amount of Indebtedness of $ ______________.The Company insures against loss or damage which the insured shall sustain by reason of any of the following:

a. The invalidity or unenforceability of the lien of the Insured Mortgage as a result of said agreement;

b. The lack of priority of the lien of the Insured Mortgage over liens or encumbrances affecting the estate or interest described on Schedule A, other than those shown in Schedule B as prior to the insured mortgage, except:

On and after the date of this endorsement, references to the Insured Mortgage in endorsements providing future insurance coverages attached to the policy shall be deemed to refer to the Insured Mortgage as modified by said agreement.

The total liability of the Company under the policy and any endorsements therein shall not exceed in the aggregate, the face amount of the policy, plus the amount of the above increase of the indebtedness secured by the Insured Mortgage, and costs which the Company is obligated under the Conditions thereof to pay.

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.

No guidelines are available for this form at this time.