Page 66 - 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

Mezzanine Lender shall be jointly and severally liable for the Company’s reasonable cost for the
interpleader and subsequent proceedings, including attorneys’ fees. The Company shall be entitled to
payment of the sums for which the Insured and Mezzanine Lender are liable under the preceding
sentence from the funds deposited into Court, and it may apply to the Court for their payment.

8. Whenever the Company has settled a claim and paid the Mezzanine Lender pursuant to this
endorsement, the Company shall be subrogated and entitled to all rights and remedies that the
Mezzanine Lender may have against any person or property arising from the Mezzanine Loan.
However, the Company agrees with the Mezzanine Lender that it shall only exercise these rights, or
any right of the Company to indemnification, against the Insured, the Mezzanine Loan borrower, or any
guarantors of the Mezzanine Loan after the Mezzanine Lender has recovered its principal, interest, and
costs of collection.

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:

(Insert name of Insured) (Insert name of Mezzanine Lender)

By: ____________________________ By: ____________________________

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