Page 78 - ALTA Endorsements Guide

ALTA ENDORSEMENT RETURN TO TABLE OF CONTENTS

Endorsement 10.3
Collateral Assignment and Date Down
[2021 v. 01.00 (04-02-2024)]

5. The liability of the Company under this endorsement will not exceed the amount of $_______________, along with costs, if any, that the
Company is obligated to pay in accordance with the Conditions; and the total liability of the Company under the policy and any endorsements
thereto will not exceed, in the aggregate, the Amount of Insurance, along with costs, if any, that the Company is obligated to pay in accordance
with the Conditions.

[Drafting Instruction: Insert the dollar amount shown in the Collateral Assignment in the blank space above.]
SAMPLE
6. By execution below, the Insured named in Schedule A of the policy acknowledges:
a. any payment(s) made under this policy up to the amount specified in Section 5 above will be made to the Collateral Assignee; and
b. any payment(s) made under this endorsement will reduce the Amount of Insurance as provided in Condition 10.

7. If the Insured, the Collateral Assignee, or others have conflicting claims to all or part of the loss payable under the policy, the Company may interplead
the amount of the loss into Court. The Insured and the Collateral Assignee will be jointly and severally liable for the Company’s reasonable cost for
the interpleader and subsequent proceedings, including attorneys’ fees. The Company will be entitled to payment of the sums for which the Insured
and Collateral Assignee 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 Collateral Assignee pursuant to this endorsement, the Company will be subrogated and
entitled to all rights and remedies that the Collateral Assignee may have against any person or property arising from the Collateral Assignment.

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: Collateral Assignee:
[Drafting Instruction: Insert name of Insured [Drafting Instruction: Insert name of Collateral
and required signature block(s)] Assignee and required signature block(s)]

By: ______________________________ By: ______________________________
[Authorized Signatory] [Authorized Signatory]

[Witness clause]

OLD REPUBLIC NATIONAL TITLE INSURANCE COMPANY

By: ______________________________
[Authorized Signatory]

Visit us online at: oldrepublictitle.com/ncs 78