Page 48 - Guide to the Most Requested Commercial Title Insurance Endorsements eBook

ALTA Table of Contents Quick Reference Index

ENDORSEMENT 1 2 3 1 2 3 4 5 6

Mortgage Modification with Additional Amount of Insurance
ALTA 11.2 Endorsement
ENDORSEMENT
Attached to Policy No.

Issued by
OLD REPUBLIC NATIONAL TITLE INSURANCE COMPANY
1. For purposes of this endorsement only:
”Modification”: The agreement between _________ and _________ dated _________ [and recorded
_________ as document number _________].
“Date of Endorsement”: _________.
The Amount of Insurance is increased to $_________.
Subject to the exclusions in Section[s] 4[ and 5] of this endorsement, the Exclusions from Coverage, the
Exceptions contained in Schedule B, and the Conditions contained in the policy, and any exclusion or
exception in any prior endorsement, the Company insures as of the Date of Endorsement against loss or
damage sustained by the Insured by reason of any of the following:
The invalidity or unenforceability of the lien of the Insured Mortgage upon the Title as a result of the
Modification;
The lack of priority of the lien of the Insured Mortgage over defects in or liens or
encumbrances on the Title, except: _________
The failure of the following matters to be subordinate to the lien of the
Insured Mortgage: _________
This endorsement does not insure against loss or damage, and the Company will not pay costs, attorneys’ fees,
or expenses, by reason of any claim that arises out of the transaction creating the Modification by reason of the
operation of federal bankruptcy, state insolvency, or similar creditors’ rights law that is based on the
Modification being a:
fraudulent conveyance or fraudulent transfer;
voidable transfer under the Uniform Voidable Transactions Act; or
preferential transfer to the extent the Modification is not a transfer made as a contemporaneous
exchange for new value or for any other reason unless the preferential transfer results solely from the
failure:
to timely record the Modification in the Public Records after execution and delivery of the Modification to
the Insured; or
of the recording of the Modification in the Public Records to impart notice of its existence to a
purchaser for value or to a judgment or lien creditor.
5. This endorsement does not insure against loss or damage, and the Company will not pay costs, attorneys’
fees, or expenses, by reason of the invalidity, unenforceability or lack of priority of the lien of the Insured
Mortgage because all applicable mortgage recording or similar intangible taxes were not paid at time of recording
of the Modification.
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.

Date:

Authorized Signatory

NCS Commercial Endorsement Guide | oldrepublictitle.com/ncs 48