OTIRO Endorsement No. 205.1-06 Planned Unit Development - Current Assessments

ENDORSEMENT
ATTACHED TO POLICY NO. [FILL IN]
ISSUED BY
STEWART TITLE INSURANCE COMPANY

[Date           : [FILL IN] ]
[Premium     : [FILL IN] ]

The Company insures against loss or damage sustained by the Insured by reason of:

1.       Present violations of any restrictive covenants referred to in Schedule B that restrict the use of the Land or the forfeiture or reversion of Title by reason of any provision contained in the restrictive covenants.  As used in this paragraph 1, the words “restrictive covenants” do not refer to or include any covenant, condition, or restriction (a) relating to obligations of any type to perform maintenance, repair, or remediation on the Land, or (b) pertaining to environmental protection of any kind or nature, including hazardous or toxic matters, conditions, or substances, except to the extent that a notice of a violation or alleged violation affecting the Land has been recorded in the Public Records at Date of Policy and is not excepted in Schedule B.

2.       Any charges or assessments in favor of any association of owners, that are provided for in any document referred to in Schedule B, due and unpaid at Date of Policy.

3.       The enforced removal of any existing structure on the Land (other than a boundary wall or fence) because it encroaches onto adjoining land or onto any easements.

4.       The failure of the Title by reason of a right of first refusal to purchase the Land that was exercised or could have been exercised at Date of Policy.

[DATE]

[Order Reference: [FILL IN] ]

[STEWART TITLE INSURANCE COMPANY]

[BY: _______________________________]

[Authorized Signatory]