STG Water Rights Endorsement 1

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.

WATER RIGHTS ENDORSEMENT

Attached to and Made a Part of
Policy No. __________
Issued By

STEWART TITLE GUARANTY COMPANY

This Company hereby agrees with the Insured that solely for the purposes of valuing the insured estate or interest in the land in the settlement of any claim made under the terms of this Policy, the value of said estate shall include any loss in value of those water rights, if any, which at Date of Policy are owned by the Insured and are used exclusively for activities on the land at Date of Policy and at the time of any claim for which this provision is relevant; provided, however, that the loss in value of said water rights results from the matter creating the claim and further provided that in no event shall the loss in value ascribed to such water rights exceed 200% of their value at Date of Policy.

Neither the Policy nor this endorsement insures title to or any rights in said water rights on any water realized by virtue of them.

THIS ENDORSEMENT MAY NOT BE ISSUED WITHOUT APPROVAL FROM STEWART TITLE GUARANTY UNDERWRITING PERSONNEL

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]