This form should not be used if a comparable ALTA version is available. If a comparable ALTA version is available, the most current version of the ALTA form available in each state should be used, unless approved by a Stewart underwriter.
ENDORSEMENT
Attached to and Forming a Part of
Policy No. __________
STEWART TITLE GUARANTY COMPANY
"The mortgage insured hereunder and described in Schedule "A" secures a note or series of notes which in the aggregate exceed the coverage of this policy. It is expressly understood that the aggregate liability of the Company under this policy, exclusive of the costs which the Company is obligated to pay under the conditions and stipulations of the policy, shall not exceed $ _______________ . This policy insures title only to the land described in Schedule "A" hereof. As payments are made upon the note, or notes, the liability of the Company under this policy shall be reduced pro tanto as the principal balance decreases in a ratio that the property insured hereunder bears in relation to the entire indebtedness."
This endorsement is made a part of the policy and is subject to all of the terms and provisions thereof and of any prior endorsements thereto. Except to the extent expressly stated, it neither modifies any of the terms and provisions of the policy and any prior endorsements, nor does it extend the effective date of the policy and any prior endorsements, nor does it increase the face amount thereof.
[Witness clause optional]
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.
For issuing guidelines on this form, see Guidelines.