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.
INSTALLMENT CONTRACT PURCHASER'S ENDORSEMENT
Attached to and Forming a Part of
Title Insurance Policy No. __________
Issued by
STEWART TITLE GUARANTY COMPANY
1. Contract Purchaser's Interest Insured.
The insured contract purchaser's interest in the land under the contract to purchase shown in Schedule B is insured in this Policy.
2. Additional Insurance
This Policy insures against loss, if any, sustained by the insured contract purchaser under the Policy by reason of:
(a). The unenforceability of the right to receive a deed under the contract, unless the insured contract purchaser does not fulfill the terms of the contract.
(b). Unenforceability of the right to receive a deed pursuant to the terms of the contract, in the event of the seller's or record title owner's bankruptcy, provided the insured contract purchaser remains in possession of the land and complies with the requirements of Section 362(i) of the Bankruptcy Code.
THIS ENDORSEMENT MAY NOT BE ISSUED WITHOUT APPROVAL FROM STEWART TITLE GUARANTY UNDERWRITING PERSONNEL
3. Additional Exclusions.
(a). The insured contract purchaser is not insured against loss, costs, attorney's fees and expenses resulting from:
(i). Matters that first affect the title after the Policy Date.
(ii). Failure of the insured contract purchaser to do everything necessary:- to secure proper deeds from the seller, seller's successor-in-interest, bankruptcy trustee, or the record title owner;
- to secure releases from other persons having an interest in the title or a lien on the land; and
- to secure a final court order which determines the persons entitled to receive payment from the insured contract purchaser.
(b). The insured contract purchaser is not insured against costs, attorneys' fees and expenses resulting from:
(i). Any action to enforce the contract or secure the property deed.
(ii). Any action to secure the final court order referred to above in paragraph 3(a)(i).
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.