Page 59 - Guide to the Most Requested Commercial Title Insurance Endorsements eBook

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Leasehold – Owner’s
ALTA 13-06 Endorsement

c. The amount of rent that, by the terms of the Lease, the Insured must continue to pay to the lessor after Eviction
with respect to the portion of the Leasehold Estate and Tenant Leasehold Improvements from which the Insured
has been Evicted.

d. The fair market value, at the time of the Eviction, of the estate or interest of the Insured in any lease or sublease
permitted by the Lease and made by the Insured as lessor of all or part of the Leasehold Estate or the Tenant
Leasehold Improvements.

e. Damages caused by the Eviction that the Insured is obligated to pay to lessees or sublessees on account of the
breach of any lease or sublease permitted by the Lease and made by the Insured as lessor of all or part of the
Leasehold Estate or the Tenant Leasehold Improvements.

f. The reasonable cost to obtain land use, zoning, building and occupancy permits, architectural and engineering
services and environmental testing and reviews for a replacement leasehold reasonably equivalent to the
Leasehold Estate.

g. If Tenant Leasehold Improvements are not substantially completed at the time of Eviction, the actual cost incurred
by the Insured, less the salvage value, for the Tenant Leasehold Improvements up to the time of Eviction. Those
costs include costs incurred to obtain land use, zoning, building and occupancy permits, architectural and
engineering services, construction management services, environmental testing and reviews, and landscaping.

4. This endorsement does not insure against loss, damage or costs of remediation (and the Company will not pay costs,
attorneys’ fees or expenses) resulting from environmental damage or contamination.

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

6 NCS Commercial Endorsement Guide | oldrepublictitle.com/ncs 59