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ENDORSEMENT 1 2 3 1 2 3 4 5 6

Aggregation – State Limits – Loan Policy
ALTA 12.1 Endorsement
ENDORSEMENT

This endorsement is issued as part of Policy Number
Issued by:
OLD REPUBLIC NATIONAL TITLE INSURANCE COMPANY

1. The following policies are issued in conjunction with one another:

POLICY NUMBER: STATE: AMOUNT OF INSURANCE:

2. The amount of insurance available to cover the Company’s liability for loss or damage under this policy at the time of
payment of loss shall be the Aggregate Amount of Insurance defined in Section 3 of this endorsement.

3. Subject to the limits in Section 4 of this endorsement, the Aggregate Amount of Insurance under this policy is either:
a. _; or
b. If the Land is located in one of the states identified in this subsection, then the Aggregate Amount of Insurance is
restricted to the amount shown below:
STATE AGGREGATE AMOUNT OF INSURANCE

4. Condition 7.a. is restated in its entirety to read:
7. OPTIONS TO PAY OR OTHERWISE SETTLE CLAIMS; TERMINATION OF LIABILITY
In case of a claim under this policy, the Company has the following additional options:
a. To Pay or Tender Payment of up to the Aggregate Amount of Insurance or to Purchase the Indebtedness
i. To pay or tender payment of the lesser of the value of the Title as insured at the date the claim was
made by the Insured Claimant, or the Aggregate Amount of Insurance applicable under this policy. In
addition, the Company will pay any costs, attorneys’ fees, and expenses incurred by the Insured
Claimant that were authorized by the Company up to the time of payment or tender of payment and
that the Company is obligated to pay; or
ii. To purchase the Indebtedness for the amount of the Indebtedness on the date of purchase. In
addition, the Company will pay any costs, attorneys’ fees, and expenses incurred by the Insured
Claimant that were authorized by the Company up to the time of purchase and that the Company is
obligated to pay.
If the Company purchases the Indebtedness, the Insured must transfer, assign, and convey to the
Company the Indebtedness and the Insured Mortgage, together with any collateral security.
Upon the exercise by the Company of either option provided for in Condition 7.a., the Company’s liability
and obligations to the Insured under this policy terminate, including any obligation to defend, prosecute,
or continue any litigation.
5. Condition 8 is restated in its entirety to read:
8. CONTRACT OF INDEMNITY; DETERMINATION AND EXTENT OF LIABILITY
This policy is a contract of indemnity against actual monetary loss or damage sustained or incurred by an Insured
Claimant who has suffered loss or damage by reason of matters insured against by this policy. This policy is not
an abstract of the Title, report of the condition of the Title, legal opinion, opinion of the Title, or other
representation of the status of the Title. All claims asserted under this policy are based in contract and are
restricted to the terms and provisions of this policy. The Company is not liable for any claim alleging negligence or
negligent misrepresentation arising from or in connection with this policy or the determination of the insurability of
the Title.
a. The extent of liability of the Company for loss or damage under this policy does not exceed the least of
i. the Aggregate Amount of Insurance for the State where the Land is located;
ii. the Indebtedness;
iii. the difference between the fair market value of the Title, as insured, and the fair market value of
the Title subject to the matter insured against by this policy; or

7 NCS Commercial Endorsement Guide | oldrepublictitle.com/ncs 54