CLTA Form 122 - Title Insurance Center
CLTA Form 122.2-06 (03-09-07) Construction Lender Advance
ALTA - Lender
ENDORSEMENT
Attached to Policy No.
Issued by
BLANK TITLE INSURANCE COMPANY
Based upon the representation of the Insured that an advance has been made to in the sum of $ , which is a portion of the Indebtedness evidenced by the note or notes secured by the Insured Mortgage, the Company insures against loss or damage sustained by reason of:
(1) The existence of any lien, encumbrance or other matter affecting the Land recorded in the Public Records subsequent to Date of Policy, except:
(2) The existence of any subsisting tax or assessment lien which is prior to the Insured Mortgage, except:
(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 at the date hereof.
The total liability of the Company under the policy and any endorsements shall not exceed, in the aggregate, the amount set forth in this endorsement and similar endorsements previously issued and attached to the policy and the face amount of the policy and costs which the Company is obligated to pay under the Conditions.
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.
BLANK TITLE INSURANCE COMPANY
Dated: By
CLTA Form 122.2-06 (03-09-07)
ALTA - Lender
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