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ALTA ENDORSEMENT                                                          RETURN TO TABLE OF CONTENTS





        Endorsement 12.1
        Aggregation - State Limits - Loan Policy
        [2021 v. 01.01 (07-01-2021 TC 08-30-2021)]



              a.    The extent of liability of the Company for loss or damage under this policy does not exceed the least of:
                 i.   the Aggregate Amount of Insurance for the State where the Land is located;
                 ii.   the Indebtedness;
                 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
                SAMPLE
                 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
                a.  All payments under this policy, except payments made for costs, attorneys’ fees, and expenses, reduce the applicable Aggregate Amount of
                   Insurance by the 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.  If this policy insures the Title to Land located in a state identified in Section 3.b. of this endorsement:
                   i.   all payments under this policy, except payments made for costs, attorneys’ fees, and expenses, reduce the Aggregate Amount of
                       Insurance by the amount of the payment; but
                   ii.   a payment made for loss or damage on Land insured in one of the policies identified in Section 1 on Land located outside this state does
                       not reduce the Aggregate Amount of Insurance in Section 3.b. of this endorsement until the Aggregate Amount of Insurance in Section
                       3.a. is reduced below the Aggregate Amount of Insurance in Section 3.b.
                c.  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.
                d.  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                                                      92
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