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ALTA                           Table of Contents                 Quick Reference Index

                      ENDORSEMENT                    1      2       3         1      2       3      4       5      6


                                                                                           Aggregation – Loan Policy
                                                                                               ALTA 12 Endorsement


               b. Fair market value of the Title in Condition 8.a.iii. is calculated using either:
                      i.  the date the Insured acquires the Title as a result of a foreclosure or deed in lieu of foreclosure of
                          the Insured Mortgage; or
                      ii.  the date the lien of the Insured Mortgage or any assignment set forth in Item 4 of Schedule A is
                          extinguished or rendered unenforceable by reason of a matter insured against by this policy.
               c.  If the Company pursues its rights under Condition 5.b. and is unsuccessful in establishing the Title or the
                   lien of the Insured Mortgage, as insured, the Insured Claimant may, by written notice given to the
                   Company, elect, as an alternative to the dates set forth in Condition 8.b., to use either the date the
                   settlement, action, proceeding, or other act described in Condition 5.b. is concluded or the date the notice
                   of claim required by Condition 3 is received by the Company as the date for calculating the fair market
                   value of the Title in Condition 8.a.iii.
               d. In addition to the extent of liability for loss or damage under Conditions 8.a. and 8.c., the Company will
                   also pay the costs, attorneys’ fees, and expenses incurred in accordance with Conditions 5 and 7.

        6. Condition 10 is restated in its entirety to read:
            10. REDUCTION OR TERMINATION OF INSURANCE
               a. All payments under this policy, except payments made for costs, attorneys’ fees, and expenses, reduce
                   the Aggregate Amount of Insurance by the amount of the payment. However, any payment made by the
                   Company prior to the acquisition of the Title as provided in Condition 2 does not reduce the Aggregate
                   Amount of Insurance afforded under this endorsement, except to the extent that the payment reduces the
                   Indebtedness.
               b. When the Title is acquired by the Insured as a result of foreclosure or deed in lieu of foreclosure, the
                   amount credited against the Indebtedness does not reduce the Aggregate Amount of Insurance.
               c.  The voluntary satisfaction or release of the Insured Mortgage terminates all liability of the Company under
                   this policy, except as provided in Condition 2, but it will not reduce the Aggregate Amount of Insurance for
                   the other policies identified in Section 1 of this endorsement.

        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.


























        Authorized Signatory





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