Page 63 - ALTA Endorsements Guide

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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 15.1-06

NON-IMPUTATION – ADDITIONAL INSURED

Adopted (6-17-06)

For purposes of the coverage provided by this endorsement,
[identify the “incoming” partner, member or shareholder]

(“Additional Insured”) is added as an Insured under the policy. By execution below, the Insured named in
Schedule A acknowledges that any payment made under this endorsement shall reduce the Amount of
Insurance as provided in Section 10 of the Conditions.
The Company agrees that it will not assert the provisions of Exclusions from Coverage 3(a), (b), or (e) to
deny liability for loss or damage otherwise insured against under the terms of the policy solely by reason of
the action or inaction or Knowledge, as of Date of Policy, of

[identify, as applicable, the existing and/or exiting partner(s) of the insured partnership entity, member(s) or
manager(s) of the insured limited liability company entity, or officer(s) and/or director(s) of the insured
corporate entity]

whether or not imputed to the Additional Insured by operation of law, to the extent of the percentage interest
in the Insured acquired by Additional Insured as a purchaser for value without Knowledge of the asserted
defect, lien, encumbrance, adverse claim, or other matter insured against by the policy.
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.

AGREED AND CONSENTED TO:

_________________________________

INSURED

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