OTIRO No. 101 Pending Improvements Endorsement (9-4-23)

OTIRO 101 PENDING IMPROVEMENTS ENDORSEMENT
ATTACHED TO POLICY NUMBER ____________________

ISSUED BY
STEWART TITLE GUARANTY COMPANY

Notwithstanding the Amount of Insurance set forth on Schedule A of the policy, the liability under the policy at date hereof is limited to the value of the Land.  Liability hereunder shall increase to the Amount of Insurance set forth in Schedule A as contemplated improvements are made.

The amount of insurance available for payment of any loss insured against by this policy shall include the above stated sum, plus the amount expended by or on behalf of the Insured for additional improvements located upon the Land at the time the loss occurs, not to exceed the Amount of Insurance set forth in Schedule A.  Any such expenditures made for such additional improvements subsequent to the Date of Policy shall be deemed made as of the Date of 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.