Page 131 - ALTA Endorsements Guide

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

1-06 to 9.6.1-06 9.7-06 to 17.1-06 17.2-06 to 28.3-06 29-06 to 36.6-06 36.7-06 to 46-06

(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 Ejection, 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 Ejection, 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 Ejected, the following items of loss, if applicable to that portion of the Land from which
the Insured is Ejected, 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 Ejection, 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 Ejection.
(b) Payments or damages for use and occupancy of the Land prior to the Ejection that the
Insured may be obligated to pay to any person having paramount title to that of the Insured.
(c) The fair market value, at the time of the Ejection, of the estate or interest of the Insured in
any lease or easement, as applicable, made by the Insured as lessor or grantor of all or
part of the Title.
(d) Damages caused by the Ejection that the Insured is obligated to pay to lessees or
easement grantees on account of the breach of any lease or easement, as applicable,
made by the Insured as lessor or grantor of all or part of the Title.
(e) The reasonable cost to obtain land use, zoning, building and occupancy permits,
architectural and engineering services, and environmental testing and reviews for a fee
estate in a replacement parcel of land reasonably equivalent to the parcel that is the subject
of the Ejection.
(f) If any Electricity Facility is not substantially completed at the time of Ejection, the actual
cost incurred by the Insured up to the time of Ejection, less the salvage value, for the
Electricity Facility located on that portion of the Land from which the Insured is Ejected.
Those costs include costs incurred to construct and fabricate the Electricity Facility, obtain
land use, zoning, building and occupancy permits, architectural and engineering services,

124

oldrepublictitle.com