OTIRO No. 67 HUD Endorsement (9-4-23)

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OTIRO No. 67 HUD Endorsement (9-4-23)

Form Document
11/17/2023
V 4

OTIRO 67 MORTGAGE IMPAIRMENT AFTER CONVEYANCE (HUD) ENDORSEMENT

ATTACHED TO POLICY NUMBER ______________

 

ISSUED BY

STEWART TITLE GUARANTY COMPANY

Order Number: ____________

Date:  ____________

Premium:  ___________

The Company insures the owner of the Indebtedness secured by the Insured Mortgage and/or the Secretary of Housing and Urban Development, of Washington, D.C., and his or her successors in office, against loss or damage sustained by reason of impairment of the lien, charge or priority of the Insured Mortgage resulting from:

(1) The conveyance of the Land from __________ to __________by deed recorded _____________; or

(2) Any release of liability of the original borrower of the Indebtedness secured by the Insured Mortgage, which release from liability is occurring at the date hereof.

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 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.