Page 71 - Guide to the Most Requested Commercial Title Insurance Endorsements eBook

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ENDORSEMENT 1 2 3 1 2 3 4 5 6

Mezzanine Financing
ALTA 16-06 Endorsement

7. If the Insured, the Mezzanine Lender or others have conflicting claims to all or part of the loss payable under the
Policy, the Company may interplead the amount of the loss into Court. The Insured and the Mezzanine Lender shall
be jointly and severally liable for the Company’s reasonable cost for the interpleader and subsequent proceedings,
including attorneys’ fees. The Company shall be entitled to payment of the sums for which the Insured and Mezzanine
Lender are liable under the preceding sentence from the funds deposited into Court, and it may apply to the Court for
their payment.
8. Whenever the Company has settled a claim and paid the Mezzanine Lender pursuant to this endorsement, the
Company shall be subrogated and entitled to all rights and remedies that the Mezzanine Lender may have against
any person or property arising from the Mezzanine Loan. However, the Company agrees with the Mezzanine Lender
that it shall only exercise these rights, or any right of the Company to indemnification, against the Insured, the
Mezzanine Loan borrower, or any guarantors of the Mezzanine Loan after the Mezzanine Lender has recovered its
principal, interest, and costs of collection.

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.

AGREED AND CONSENTED TO:

By: By:
Insured Mezzanine Lender

Authorized Signatory

4 NCS Commercial Endorsement Guide | oldrepublictitle.com/ncs 71