Page 307 - ALTA Endorsements Guide

ADDENDUM RETURN TO TABLE OF CONTENTS

Loan Policy of Title insurance
[2021 v. 01.00 (07-01-2021)]

SAMPLE
6. An enforcement of a governmental forfeiture, police, regulatory, or national security power, but only to the extent of the enforcement described by the
enforcing governmental authority in an Enforcement Notice.
7. An exercise of the power of eminent domain, but only to the extent:
a. of the exercise described in an Enforcement Notice; or
b. the taking occurred and is binding on a purchaser for value without Knowledge.
8. An enforcement of a PACA-PSA Trust, but only to the extent of the enforcement described in an Enforcement Notice.

9. The invalidity or unenforceability of the lien of the Insured Mortgage upon the Title. Covered Risk 9 includes, but is not limited to, insurance against loss
caused by:
a. forgery, fraud, undue influence, duress, incompetency, incapacity, or impersonation;
b. the failure of a person or Entity to have authorized a transfer or conveyance;
c. the Insured Mortgage not being properly authorized, created, executed, witnessed, sealed, acknowledged, notarized (including by remote online
notarization), or delivered;
d. a failure to perform those acts necessary to create an Insured Mortgage by electronic means authorized by law;
e. a document having been executed under a falsified, expired, or otherwise invalid power of attorney;
f. the Insured Mortgage not having been properly filed, recorded, or indexed in the Public Records, including the failure to have performed those
acts by electronic means authorized by law;
g. a defective judicial or administrative proceeding; or
h. invalidity or unenforceability of the lien of the Insured Mortgage as a result of the repudiation of an electronic signature by a person that executed
the Insured Mortgage because the electronic signature on the Insured Mortgage was not valid under applicable electronic transactions law.
10. The lack of priority of the lien of the Insured Mortgage upon the Title over any other lien or encumbrance on the Title as security for the following
components of the Indebtedness:
a. the amount of the principal disbursed as of the Date of Policy;
b. the interest on the obligation secured by the Insured Mortgage;
c. the reasonable expense of foreclosure;
d. amounts advanced for insurance premiums by the Insured before the acquisition of the estate or interest in the Title; and
e. the following amounts advanced by the Insured before the acquisition of the estate or interest in the Title to protect the priority of the lien of the
Insured Mortgage:
i. real estate taxes and assessments imposed by a governmental taxing authority; and
ii. regular, periodic assessments by a property owners’ association.

11. The lack of priority of the lien of the Insured Mortgage upon the Title:
a. as security for each advance of proceeds of the loan secured by the Insured Mortgage over any statutory lien for service, labor, material, or
equipment arising from construction of an improvement or work related to the Land when the improvement or work is:
i. contracted for or commenced on or before the Date of Policy; or
ii. contracted for, commenced, or continued after the Date of Policy if the construction is financed, in whole or in part, by proceeds of the
loan secured by the Insured Mortgage that the Insured has advanced or is obligated on the Date of Policy to advance; and
b. over the lien of any assessments for street improvements under construction or completed at the Date of Policy.

12. The invalidity or unenforceability of any assignment of the Insured Mortgage, provided the assignment is shown in Schedule A, or the failure of the
assignment shown in Schedule A to vest title to the Insured Mortgage in the named Insured assignee free and clear of all liens.

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