Revolving Line of Credit Endorsement
CHICAGO TITLE INSURANCE COMPANY
REVOLVING CREDIT ENDORSEMENT
Attached to and made a part of Chicago Title Insurance Company Loan Policy No.
The Company hereby insures:
1. That advances which are made by the insured subsequent to Date of Policy pursuant to the terms of a revolving credit agreement and which are made pursuant to the terms of the insured mortgage set forth in Schedule A of the Policy and which are secured by said mortgage are included within the coverage of the Policy, provided there has been no change of ownership of the estate or interest encumbered by the lien of the insured mortgage at the date any such advances are made.
2. Against loss or damage by reason of loss of priority of the lien of the insured mortgage which loss of priority results from the advances referred to in paragraph numbered 1 above.
This Endorsement does not insure against loss or damage based upon: (a) usury, (b) any consumer credit or truth in lending law, (c) federal tax liens, (d) bankruptcies affecting the owner of the estate or interest encumbered by the lien of the insured mortgage, (e) real estate taxes or assessments or (f) advances made during the period of any default in the revolving credit agreement of the insured mortgage.
This endorsement is made a part of this policy and is subject to all of the terms and provisions thereof and of any prior endorsements thereto. Except to the extent expressly stated, it neither modifies any of the terms and provisions of the policy and any prior endorsements, nor does it extend the effective date of the policy and any prior endorsements, nor does it increase the face amount thereof.
IN WITNESS WHEREOF, the Company has caused this Endorsement to be signed and sealed as of , to be valid when countersigned by an authorized officer or agent of the Company, all in accordance with its By-Laws.
COUNTERSIGNED:
BY: __________________________________
Authorized Signatory
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