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.
NON-CUMULATIVE LIABILITY ENDORSEMENT
Attached to and Forming a Part of
Policy of Title Insurance No. ___________
Issued by
STEWART TITLE GUARANTY COMPANY
This Policy is issued contemporaneously with Stewart Title Guaranty Company, Policy No. _____________ , naming as insured __________________________________ , in the amount of $ _________________ (the "Concurrent Policy"). The amount of insurance under this Policy shall be reduced pro tanto by any amount the Company pays under the Concurrent Policy. Any amount paid under the Concurrent Policy shall be deemed a satisfaction under this Policy of the matter or claim as to which payment is made.
THIS ENDORSEMENT MAY NOT BE ISSUED WITHOUT APPROVAL FROM STEWART TITLE GUARANTY UNDERWRITING PERSONNEL
Nothing herein contained shall be construed as extending or changing the Effective Date of said Policy, unless otherwise expressly stated.
This Endorsement, when countersigned below by a validating signatory, is made a part of said Policy and is subject to the Exclusions from Coverage, Schedules, Conditions and Stipulations therein, except as modified by the provisions hereof.
IN WITNESS WHEREOF, the Company has caused its corporate name and seal to be hereunto affixed by its duly authorized officers.
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.