Bulletin: NJ000012

Dear Associates:

Please be advised that effective July 17, 1995 the Department has approved an amendment to the New Jersey Land Title Insurance Rating Bureau filing permitting the issuance of ALTA 3 and 3.1 Zoning Endorsements. Please refer to reference section located at the end of this bulletin to review the forms. Actual endorsements on Stewart paper should be ordered from the Forms Department only when you have a request for this special coverage.

Please be advised that you are not authorized to issue these endorsements without the written consent of a senior underwriter of the Company. Generally speaking, these endorsements are rarely requested and only requested on large commercial transactions. Minimally, the Company requires an opinion of counsel from a law firm acceptable to the Company opining on the compliance of the property with the applicable local zoning laws. Those opinions are reviewed by a senior underwriter before the endorsement may be given. Also, please note that these endorsements are relatively expensive and quite often the cost of these endorsements dissuade the insureds from requesting the coverage. Accordingly, when you do receive a request for a zoning endorsement, please quote the exact premium to the proposed insured before proceeding further to make sure they are willing to pay the appropriate charges. Please also note that the premium is based on the "basic rate". This is true regardless whether or not the policy itself is issued at a different rate (i.e., reissue or refinance).

As always, the Company stands ready to help you with these underwriting requests. If you have any questions on this filing, please call our office.