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-PARTNERSHIP ENDORSEMENT
The Company hereby insures against loss or damage which the insured shall sustain by reason of the invalidity, unenforceability or loss of priority of the lien of the insured mortgage as determined by a final decree of a court of competent jurisdiction holding that the relationship which exists between the insured and ___________________ solely because of ["the mortgage and the note" or "the following documents".]
THIS ENDORSEMENT MAY NOT BE ISSUED WITHOUT APPROVAL FROM STEWART TITLE GUARANTY UNDERWRITING PERSONNEL
is that of partners or joint venturers rather than that of a lender or borrower.
The total liability of the Company under said Policy and any endorsements therein shall not exceed, in the aggregate, the face amount of said Policy and costs which the Company is obligated under the Conditions and Stipulations thereof to pay.
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 (except to the extent paragraph 3(a) of the Exclusions is modified hereby; no other Exclusion being limited by this Endorsement), Schedules, and Conditions and Stipulations.
IN WITNESS WHEREOF, the Company has caused it 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.