Page 51 - 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 13-06

LEASEHOLD – OWNER’S

Revised (4-2-12)

1. As used in this endorsement, the following terms shall mean:

a. "Evicted" or "Eviction": (a) the lawful deprivation, in whole or in part, of the right of possession insured by
this policy, contrary to the terms of the Lease or (b) the lawful prevention of the use of the Land or the
Tenant Leasehold Improvements for the purposes permitted by the Lease, in either case as a result of a
matter covered by this policy.

b. "Lease": the lease described in Schedule A.

c. "Leasehold Estate": the right of possession granted in the Lease for the Lease Term.

d. "Lease Term": the duration of the Leasehold Estate, as set forth in the Lease, including any renewal or
extended term if a valid option to renew or extend is contained in the Lease.

e. "Personal Property": property, in which and to the extent the Insured has rights, located on or affixed to
the Land on or after Date of Policy that by law does not constitute real property because (i) of its character
and manner of attachment to the Land and (ii) the property can be severed from the Land without causing
material damage to the property or to the Land.

f. "Remaining Lease Term": the portion of the Lease Term remaining after the Insured has been Evicted.

g. "Tenant Leasehold Improvements": Those improvements, in which and to the extent the Insured has
rights, including landscaping, required or permitted to be built on the Land by the Lease that have been
built at the Insured's expense or in which the Insured has an interest greater than the right to possession
during the Lease Term.

2. Valuation of Estate or Interest Insured:

If in computing loss or damage it becomes necessary to value the Title, or any portion of it, as the result of an
Eviction of the Insured, then, as to that portion of the Land from which the Insured is Evicted, that value shall
consist of the value for the Remaining Lease Term of the Leasehold Estate and any Tenant Leasehold
Improvements existing on the date of the Eviction. The Insured Claimant shall have the right to have the
Leasehold Estate and the Tenant Leasehold Improvements affected by a defect insured against by the policy
valued either as a whole or separately. In either event, this determination of value shall take into account rent no
longer required to be paid for the Remaining Lease Term.

3. 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 2 of this
endorsement, any other endorsement to the policy, or Section 8(a)(ii) of the Conditions:

a. The reasonable cost of (i) removing and relocating any Personal Property that the Insured has the right to
remove and relocate, situated on the Land at the time of Eviction, (ii) transportation of that Personal
Property for the initial one hundred miles incurred in connection with the relocation, (iii) repairing the
Personal Property damaged by reason of the removal and relocation, and (iv) restoring the Land to the

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