Page 37 - ALTA Endorsements Guide

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ALTA ENDORSEMENT 9.8-06
COVENANTS, CONDITIONS AND RESTRICTIONS – LAND UNDER DEVELOPMENT – OWNER’S
POLICY

Adopted (4-2-12)

1. The insurance provided by this endorsement is subject to the exclusions in Section 4 of this
endorsement; and the Exclusions from Coverage, the Exceptions from Coverage contained in
Schedule B, and the Conditions in the policy.
2. For purposes of this endorsement only:
a. “Covenant” means a covenant, condition, limitation or restriction in a document or instrument in
effect at Date of Policy.
b. “Future Improvement” means a building, structure, road, walkway, driveway, curb to be
constructed on or affixed to the Land in the locations according to the Plans and that by law will
constitute real property, but excluding any crops, landscaping, lawn, shrubbery, or trees.
c. “Improvement” means a building, structure located on the surface of the Land, road, walkway,
driveway, or curb, affixed to the Land at Date of Policy and that by law constitutes real property,
but excluding any crops, landscaping, lawn, shrubbery, or trees.
d. “Plans” means the survey, site and elevation plans or other depictions or drawings prepared by
(insert name of architect or engineer) dated ____, last revised ________, designated as (insert
name of project or project number) consisting of ___ sheets.
3. The Company insures against loss or damage sustained by the Insured by reason of:
a. A violation of an enforceable Covenant by an Improvement on the Land at Date of Policy or by a
Future Improvement, unless an exception in Schedule B of the policy identifies the violation;
b. Enforced removal of an Improvement located on the Land or of a Future Improvement as a result
of a violation of a building setback line shown on a plat of subdivision recorded or filed in the
Public Records at Date of Policy, unless an exception in Schedule B of the policy identifies the
violation; or

c. A notice of a violation, recorded in the Public Records at Date of Policy, of an enforceable
Covenant relating to environmental protection describing any part of the Land and referring to that
Covenant, but only to the extent of the violation of the Covenant referred to in that notice, unless
an exception in Schedule B of the policy identifies the notice of the violation.
4. This endorsement does not insure against loss or damage (and the Company will not pay costs,
attorneys' fees, or expenses) resulting from:
a. any Covenant contained in an instrument creating a lease;
b. any Covenant relating to obligations of any type to perform maintenance, repair, or remediation
on the Land; or

c. except as provided in Section 3.c, any Covenant relating to environmental protection of any kind
or nature, including hazardous or toxic matters, conditions, or substances.
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.

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