CLTA 124.2-06 Covenants in Lease are Binding (03-09-07)

ENDORSEMENT
Attached to Policy No.
Issued by
STEWART GUARANTY COMPANY

    The Company insures against loss or damage sustained by reason of the failure of the covenants of the lessor in favor of the lessee, set out in Section(s) __________ , __________ and __________ of the lease recorded ____________________ to do some act relating to the use, repair, maintenance of the improvements , or payment of taxes and assessments of the real property, or some part thereof, described as (description of burdened land of lessor) to be binding, as shown by the Public Records, upon the lessor and each successive owner, during his or her ownership, of any portion of such real property, and upon each mortgagee of a mortgage, or the trustee or beneficiary of a deed of trust, whose interest is derived from the lessor or through any such successive owner thereof, while such mortgagee or trustee or beneficiary is in possession in such capacity.

    Provided, however, that no insurance coverage is provided by this endorsement should such covenants fail to bind a successive owner who derives title through: a) a tax deed; b) a foreclosure of a bond or assessment; c) enforcement of a federal tax lien; d) a bankruptcy, as trustee or otherwise; e) a right or lien existing prior to the date of recording of the instrument containing said covenants.

    This endorsement does not insure against loss or damage which the insured may sustain by reason of the non-performance of any said covenants.

    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 GUARANTY COMPANY

By

Dated: