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Endorsement 12
Aggregation - Loan Policy
[2021 v. 01.00 (07-01-2021)]

iii. the difference between the fair market value of the Title, as insured, and the fair market value of the Title subject to the matter insured
against by this policy; or
iv. if a Government Mortgage Agency or Instrumentality is the Insured Claimant, the amount it paid in the acquisition of the Title or the Insured
Mortgage or in satisfaction of its insurance contract or guaranty relating to the Title or the Insured Mortgage.
b. Fair market value of the Title in Condition 8.a.iii. is calculated using either:
i. the date the Insured acquires the Title as a result of a foreclosure or deed in lieu of foreclosure of the Insured Mortgage; or
ii. the date the lien of the Insured Mortgage or any assignment set forth in Item 4 of Schedule A is extinguished or rendered unenforceable
by reason of a matter insured against by this policy.
c. If the Company pursues its rights under Condition 5.b. and is unsuccessful in establishing the Title or the lien of the Insured Mortgage, as insured,
the Insured Claimant may, by written notice given to the Company, elect, as an alternative to the dates set forth in Condition 8.b., to use either the
date the settlement, action, proceeding, or other act described in Condition 5.b. is concluded or the date the notice of claim required by Condition
3 is received by the Company as the date for calculating the fair market value of the Title in Condition 8.a.iii.
d. In addition to the extent of liability for loss or damage under Conditions 8.a. and 8.c., the Company will also pay the costs, attorneys’ fees, and
expenses incurred in accordance with Conditions 5 and 7.

6. Condition 10 is restated in its entirety to read:
10. REDUCTION OR TERMINATION OF INSURANCE
All payments under this policy, except payments made for costs, attorneys’ fees, and expenses, reduce the Aggregate Amount of Insurance by the
a. SAMPLE
amount of the payment. However, any payment made by the Company prior to the acquisition of the Title as provided in Condition 2 does not
reduce the Aggregate Amount of Insurance afforded under this endorsement, except to the extent that the payment reduces the Indebtedness.
b. When the Title is acquired by the Insured as a result of foreclosure or deed in lieu of foreclosure, the amount credited against the Indebtedness
does not reduce the Aggregate Amount of Insurance.
c. The voluntary satisfaction or release of the Insured Mortgage terminates all liability of the Company under this policy, except as provided in
Condition 2, but it will not reduce the Aggregate Amount of Insurance for the other policies identified in Section 1 of this endorsement.

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.

[Witness clause]

[Date]

OLD REPUBLIC NATIONAL TITLE INSURANCE COMPANY

By: ______________________________
[Authorized Signatory]

Visit us online at: oldrepublictitle.com/ncs 88