STG Gold Endorsement to 2021 ALTA Homeowner’s Policy

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.

STG GOLD ENDORSEMENT TO 2021 ALTA HOMEOWNER’S POLICY

This Endorsement is Issued as Part of Policy Number ______________________

Issued By

STEWART TITLE GUARANTY COMPANY

THIS ENDORSEMENT IS EFFECTIVE ONLY IF THE LAND IS AN EXISTING OWNER-OCCUPIED SINGLE-FAMILY RESIDENCE OR A RESIDENTIAL CONDOMINIUM UNIT

1.    ENHANCED COVERAGE FOR LEGAL ENTITIES

The following paragraph of the Coverage Statement is deleted:

This policy covers You only if the Land is improved with an existing one-to-four family residence and each party named in Item 1 of Schedule A is a Natural Person or Estate Planning Entity.

and replaced with the following:

“This policy covers You only if the Land is improved with an existing single-family residence or a residential condominium unit. If the Land is not an improved single-family residence or a residential condominium unit, then this endorsement is void.”

2.   ENHANCED POST-POLICY COVERED RISKS

Covered Risk 5, which states “Any of Covered Risks 1 through 4 occurring after the Date of Policy” is replaced by new Covered Risk 5, which states “5. Any of Covered Risks 1 through 4 or Covered Risk 6 or Covered Risk 7 occurring after the Date of Policy.”

3.    ENHANCED GOVERNMENTAL FORFEITURE COVERED RISK

The following is added at the end of Covered Risk 15:

“With respect to an enforcement of a governmental forfeiture power that occurred before the Date of Policy, You lose your Title but only to the extent the enforcement of a governmental forfeiture occurred before the Date of Policy and is binding on You, if You purchased the Land without Knowledge of the forfeiture.”

4.    CERTIFICATE OF OCCUPANCY COVERED RISK

The following is added as a new second sentence to Covered Risk 18 to the policy, subject to Your Deductible Amount and Our Maximum Dollar Limit of Liability shown in Schedule A for Covered Risk 18:

“If You are a natural person, You are ordered by a State or Municipal authority to remove or remedy any portion of Your existing single-family dwelling -- other than boundary walls or fences -- because Your existing single-family dwelling was completed and occupied more than six years prior to the Date of Policy without obtaining a certificate of occupancy from the proper government office.”

5.    ENHANCED GAP COVERAGE COVERED RISK

The following is substituted for Covered Risk 32 to provide:

“32. If the Insured named in Schedule A first acquires the interest shown in Schedule A by an instrument recorded in the Public Records later than the date and time shown in Schedule A, the Date of Policy is the date and time the instrument is recorded and the Company insures against any defect in, lien, or encumbrance on the Title or any other matter or Covered Risk prior to the recording of the deed or other instrument  vesting the Title in the Public Records.

6.    PACA-PSA TRUST COVERED RISK

New Covered Risk 34 is added to the Covered Risks:

“34. Any claim of a PACA-PSA Trust. For purposes of this Covered Risk, a PACA-PSA Trust is a trust under the federal Perishable Agricultural Commodities Act or the federal Packers and Stockyards Act or a similar state or federal law.”

7.    ENHANCED CONTINUATION OF COVERAGE

Condition 2.a. (Continuation of Coverage) is amended to add Condition 2.a.iv below:

“2.a.iv. Your coverage under this policy also continues as of the Date of Policy so long as You have liability for covenants of Title, including any covenant of seisin.”

Condition 2.b. (Continuation of Coverage) is amended to add 2.b.vii, 2.b.viii, 2.b.ix, or 2.b.x below:

2.b. This Policy also insures: “2.b.vii. Your spouse who receives Your Title by deed from You because You are the sole owner and You transfer with or without consideration Your Title or a portion thereof to him or her, or viii. Your child or Your grandchild who receives Your Title by gift deed from You without payment of any consideration; or ix. A limited liability company or other entity to which You transfer Your Title by deed provided that you are the sole owner of that company or other entity; or x. a transferee by a transfer effective on Your death.”

8.    INCREASED AMOUNT OF INSURANCE

Condition 6.d.i. (Contract of Indemnity; Determination and Extent of Liability) is amended as provided below:

The following Condition 6.d.i is deleted                                

6.d.i. the Amount of Insurance then in force will be increased by 15% of the Amount of Insurance shown in Schedule A; and

and replaced with the following:

6.d.i. the Amount of Insurance then in force will be increased by 20% of the Amount of Insurance shown in Schedule A; and

9.    APPLICABLE ONLY FOR AN OWNER-OCCUPIED SINGLE-FAMILY RESIDENCE.

The coverage contained in this endorsement is effective only for an owner-occupied single-family residence or residential condominium unit, and is subject to the Exclusions, Exceptions and Conditions in the Policy and this endorsement will not be effective if the Land is not a single-family residence or a residential condominium unit occupied by You. There shall be no liability under this Endorsement based upon the refusal or failure of any person or entity to purchase, lease or lend money on the Land. This endorsement may only be used in conjunction with the 2021 ALTA Homeowner's Policy (adopted 07-01-21).

This endorsement is issued as part of the policy. Except as this endorsement expressly states, it does not (i) modify any of the terms and provisions of the policy, (ii) modify any prior endorsement, (iii) extend the Date of Policy, (iv) insure against loss or damage exceeding the Amount of Insurance, or (v) increase the Amount of Insurance. To the extent a provision of the policy or any prior 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 any prior endorsement.

[Witness clause]

[Date]

STEWART TITLE GUARANTY COMPANY

By: ______________________________
         [Authorized Signatory]