CLTA 122 Construction Lender Advance (08-04-22)

ENDORSEMENT
Attached to Policy No. ____________
Issued by
STEWART TITLE GUARANTY COMPANY

Based upon the representation of the Insured that an advance has been made to in the sum of $                              , which is a portion of the Indebtedness that the Insured is obligated to advance (the “Advance”), the Company insures against loss or damage sustained by the Insured by reason of:

(1) Any defect in or lien or encumbrance affecting the Title and recorded in the Public Records subsequent to Date of Policy and prior to the Date of Endorsement, except:

  <any matters recorded in the Public Records subsequent to the date of the policy are to be shown here>

(2) Any subsisting tax or assessment lien that is prior to the lien of the Insured Mortgage, except:

 <any unpaid taxes or assessment liens are to be shown here>

(3) The Titlebeing vested other than shown in Item 3 of Schedule A of this policy according to the Public Records at the Date of Endorsement;

(4) The failure of the Advance to be secured by the Insured Mortgage;

(5) Lack of priority of the Advance over any defect in or lien or encumbrance affecting the Title and recorded in the Public Records as of the Date of Endorsement, other than the matters shown as Exceptions in Schedule B of this policy, the matters shown in Section (2) of this endorsement, and the following matters:

 <any matters recorded in the Public Records subsequent to the date of policy that are not subordinate to the Advance are to be shown here>

(6) Lack of priority of the Advance over any statutory lien for services, labor, material or equipment arising out of the work of improvement under construction or completed as of the Date of Endorsement.

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.

STEWART TITLE GUARANTY COMPANY

By:

Dated: