IN CUSTOM ALTA HOMEOWNER'S CONVERSION ENDORSEMENT
to Title Commitment Number ________________
ALTA Homeowner’s Policy of Title Insurance Revised 02/03/10 Number: _______________________
SCHEDULE A OF TITLE COMMITMENT NUMBER _____________________ IS AMENDED AS FOLLOWS:
1. Effective Date of Owner’s Policy: _______________________________
2. Name of Insured: _____________________________________
3. Amount of Owner’s Policy Title Insurance Coverage: _______________________
4. The estate or interest in the Land covered by this Owner’s Title Policy is Fee Simple and title to said estate or interest is vested in the Insured.
5. The Land herein described and Insured by this Owner’s Title Policy is encumbered by the following Mortgage and assignments: __________________________________________________
SCHEDULE B OF TITLE COMMITMENT NUMBER______________________ IS AMENDED AS FOLLOWS:
1. Requirements of Schedule B Section I are hereby deleted.
2. Exception(s) numbered ________________________ shown on Schedule B-are hereby deleted.
3. Mortgage and assignments referenced above in Schedule A Item 5are hereby added as exceptions from coverage.
IN ADDITION TO THE MATTERS SET FORTH ON SCHEDULE A AND B OF THE TITLE COMMITMENT, THE FOLLOWING ATTACHED ADDENDUM AND ENDORSEMENT(S) ARE INCORPORATED HEREIN TO THE OWNER’S POLICY: ___________________________________________
Subject to exceptions from coverage contained in the above-referenced Title Commitment and the following note, this endorsement and any Addendum attached hereto, Stewart Title Guaranty Company, a Texas Corporation, herein called the “Company” hereby converts the above referenced Title Commitment to an ALTA Homeowner’s Policy Revised 2/3/2010.
Note: Deductible Amounts and Maximum Dollar Limits of Liability For Covered Risk 16, 18, 19 and 21:
| Your Deductible Amount | Our Maximum Dollar Limit of Liability | ||
Covered Risk 16: | 1% of Policy Amount Shown in Schedule A | $10,000.00 | ||
| or $2,500.00 (whichever is less) |
| ||
Covered Risk 18: | 1% of Policy Amount Shown in Schedule A | $25,000.00 | ||
| or $5,000.00 (whichever is less) |
| ||
Covered Risk 19: | 1% of Policy Amount Shown in Schedule A | $25,000.00 | ||
| or $5,000.00 (whichever is less) |
| ||
Covered Risk 21: | 1% of Policy Amount Shown in Schedule A | $5,000.00 | ||
| or $2,500.00 (whichever is less) |
| ||
This Owner’s Policy will consist of the jacket for the above referenced Owner’s Policy and Policy Number, this endorsement when signed below by a validating signatory, Schedules A and B of the above referenced Title Commitment Number and any addendum and endorsements attached hereto.
Except as modified by the provisions of this Endorsement, The Exclusions from Coverage, Schedules, and Conditions contained therein remain unchanged.
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.
No guidelines are available for this form at this time.