Page 46 - 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

ALTA ENDORSEMENT 12-06

AGGREGATION – LOAN POLICY

Revised (4-2-13)

1. The following policies are issued in conjunction with one another:

POLICY NUMBER: STATE: AMOUNT OF INSURANCE:

2. The amount of insurance available to cover the Company’s liability for loss or damage under this
policy at the time of payment of loss shall be the Aggregate Amount of Insurance defined in
Section 3 of this endorsement.

3. Subject to the limits in Section 4 of this endorsement, the Aggregate Amount of Insurance under
these policies is $ ______________________.
4. Section 7(a)(i) of the Conditions of this policy is amended to read:

7. OPTIONS TO PAY OR OTHERWISE SETTLE CLAIMS; TERMINATION OF
LIABILITY
In case of a claim under this policy, the Company shall have the following additional
options:
(a) to pay or tender payment of the lesser of the value of the Title as insured or the
Aggregate Amount of Insurance applicable under this policy at the date the claim
was made by the Insured Claimant, or to purchase the Indebtedness.

(i) to pay or tender payment of the lesser of the value of the Title as insured
at the date the claim was made by the Insured Claimant, or the
Aggregate Amount of Insurance applicable under this policy together
with any cost, attorneys’ fees, and costs and expenses incurred by the
Insured Claimant that were authorized by the Company up to the time of
payment or tender of payment and that the Company is obligated to pay;
or
5. Section 8(a) and 8(b) of the Conditions of this policy are amended to read:
8. DETERMINATION AND EXTENT OF LIABILITY

This policy is a contract of indemnity against actual monetary loss or damage sustained or
incurred by the Insured Claimant who has suffered loss or damage by reason of matters
insured against by this policy.
(a) The extent of liability of the Company for loss or damage under this policy shall
not exceed the least of
(i) the Aggregate Amount of Insurance,
(ii) the Indebtedness,
(iii) the difference between the value of the Title as insured and the value of the
Title subject to the risk insured against by this policy, or

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