Pending Improvements Endorsement
Attached to Policy No. _________________
Issued by
STEWART TITLE GUARANTY COMPANY
Liability hereunder at date hereof is limited to $ _______________, (insert either "the purchase price paid by the Insured for the land and existing improvements" or "the value of the land and existing improvements").Liability hereunder shall increase to the amount of insurance set forth on Schedule A as contemplated improvements are made, so that any loss payable hereunder shall be limited to said sum, plus the amount expended by or on behalf of the insured for additional improvements located upon the land at the time the loss occurs. Any such expenditures made for such addition improvements subsequent to the date of this policy shall be deemed made as of the date of this policy.
This endorsement is made a part of the policy or commitment and is subject to all the terms and provisions thereof and of any prior endorsement s thereto. Except to the extent expressly stated, it neither modifies any of the terms and provisions of the policy or commitment and prior endorsements, if any, nor does it extend the effective date of the policy or commitment and prior endorsements or increase the face amount thereof.
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.