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ENDORSEMENT 1 2 3 1 2 3 4 5 6

Leasehold – Loan
ALTA 13.1-06 Endorsement
ENDORSEMENT

Attached to Policy No.
Issued by
OLD REPUBLIC NATIONAL TITLE INSURANCE COMPANY

1. As used in this endorsement, the following terms shall mean:

a. “Evicted” or “Eviction”: (a) the lawful deprivation, in whole or in part, of the right of possession insured by this
policy, contrary to the terms of the Lease or (b) the lawful prevention of the use of the Land or the Tenant
Leasehold Improvements for the purposes permitted by the Lease, in either case as a result of a matter covered
by this policy.
b. “Lease”: the lease described in Schedule A.

c. “Leasehold Estate”: the right of possession granted in the Lease for the Lease Term.

d. “Lease Term”: the duration of the Leasehold Estate, as set forth in the Lease, including any renewal or extended
term if a valid option to renew or extend is contained in the Lease.

e. “Personal Property”: property, in which and to the extent the Insured has rights, located on or affixed to the Land
on or after Date of Policy that by law does not constitute real property because (i) of its character and manner of
attachment to the Land and (ii) the property can be severed from the Land without causing material damage to
the property or to the Land.

f. “Remaining Lease Term”: the portion of the Lease Term remaining after the Tenant has been Evicted.

g. “Tenant”: the tenant under the Lease and, after acquisition of all or any part of the Title in accordance with the
provisions of Section 2 of the Conditions of the policy, the Insured Claimant.

h. “Tenant Leasehold Improvements”: Those improvements, in which and to the extent the Insured has rights,
including landscaping, required or permitted to be built on the Land by the Lease that have been built at the
Tenant’s expense or in which the Tenant has an interest greater than the right to possession during the Lease
Term.

2. Valuation of Estate or Interest Insured:
If in computing loss or damage it becomes necessary to value the Title, or any portion of it, as the result of an Eviction of
the Tenant, then, as to that portion of the Land from which the Tenant is Evicted, that value shall consist of the value for
the Remaining Lease Term of the Leasehold Estate and any Tenant Leasehold Improvements existing on the date of the
Eviction. The Insured Claimant shall have the right to have the Leasehold Estate and the Tenant Leasehold
Improvements affected by a defect insured against by the policy valued either as a whole or separately. In either event,
this determination of value shall take into account rent no longer required to be paid for the Remaining Lease Term.

3. Additional items of loss covered by this endorsement:
If the Insured acquires all or any part of the Title in accordance with the provisions of Section 2 of the Conditions of this
policy and thereafter is Evicted, the following items of loss, if applicable to that portion of the Land from which the Insured
is Evicted shall be included, without duplication, in computing loss or damage incurred by the Insured, but not to the
extent that the same are included in the valuation of the Title determined pursuant to Section 2 of this endorsement, any
other endorsement to the policy, or Section 8(a)(iii) of the Conditions:

6 NCS Commercial Endorsement Guide | oldrepublictitle.com/ncs 60