Page 119 - ALTA Endorsements Guide

A L T A E N D O R S E M E N T

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b. A computation of loss or damage resulting from an Eviction affecting any Constituent Parcel shall
include loss or damage to the integrated project caused by the covered matter affecting the
Constituent Parcel from which the Insured is Evicted.
c. The Insured Claimant shall have the right to have the Leasehold Estate and any Electricity
Facility affected by a defect insured against by this policy valued either as a whole or separately.
In either event, this determination of value shall take into account any rent no longer required to
be paid for the Remaining Term.
d. The provisions of this Section 3 shall not diminish the Insured’s rights under any other
endorsement to the policy; however, the calculation of loss or damage pursuant to this
endorsement shall not allow duplication of recovery for loss or damage calculated pursuant to
Section 8 of the Conditions or any other endorsement to the policy.
4. Valuation of Severable Improvements:
a. In the event of an Eviction, the calculation of the loss shall include (but not to the extent that these
items of loss are included in the valuation of the Title determined pursuant to Section 8 of the
Conditions or any other provision of this or any other endorsement) the diminution in value of the
Insured’s interest in any Severable Improvement resulting from the Eviction, reduced by the
salvage value of the Severable Improvement.
b. The policy does not insure against loss or damage (and the Company will not pay any costs,
attorneys’ fees or expenses) relating to:
i. the attachment, perfection or priority of any security interest in any Severable Improvement;

ii. the vesting or ownership of title to or rights in any Severable Improvement;
iii. any defect in or lien or encumbrance on the title to any Severable Improvement; or
iv. the determination of whether any specific property is real or personal in nature.

5. Additional items of loss covered by this endorsement:
If the Insured 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 3 of this endorsement, the valuation of Severable Improvements pursuant to
Section 4 of this endorsement, or Section 8(a)(ii) of the Conditions.

a. The reasonable cost of: (i) disassembling, removing, relocating and reassembling any Severable
Improvement that the Insured has the right to remove and relocate, situated on the Land at the
time of Eviction, to the extent necessary to restore and make functional the integrated project; (ii)
transportation of that Severable Improvement for the initial one hundred miles incurred in
connection with the restoration or relocation; and (iii) restoring the Land to the extent damaged as
a result of the disassembly, removal and relocation of the Severable Improvement and required of
the Insured solely because of the Eviction.
b. Rent or damages for use and occupancy of the Land prior to the Eviction that the Insured as
owner of the Leasehold Estate may be obligated to pay to any person having paramount title to
that of the lessor in the Lease.
c. The amount of rent or damages 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 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 specifically permitted by the Lease and made by the Insured as lessor of all or
part of the Leasehold Estate.

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