NJRB 5-185 New Jersey Solar Endorsement

This endorsement is issued as part of

Policy Number __________

issued by
STEWART TITLE GUARANTY COMPANY
 

1.         The Insurance provided by this endorsement is only effective if the Land is improved with a one-to-four family residential dwelling.

2.         For purposes of this endorsement:

a.         “Solar Contract” means the document recorded on __________, in Book _____, Page _____ or as Instrument No. _________ [and identified in Exception No. ________];
           [Drafting Instruction: repeat as necessary for additional recorded documents disclosing the Solar Contract].
b.         “System” means the solar electric system located on the Land that is the subject of the Solar Contract.

3.         The Company insures against loss or damage sustained by the Insured in the event the Solar Contract results in the invalidity, unenforceability, or lack of priority of the lien of the Insured Mortgage.

4.         The policy does not insure that the System is part of the Land or that the title to the System is encumbered by the lien of the Insured Mortgage.

5.         The following matters are excluded from the coverage of the policy, and the Company will not pay loss or damage, costs, attorneys’ fees, or expenses resulting from:

a.         diminution in the value of the Land by reason of the existence of the Solar Contract or the System;
b.         rights of ingress or egress to the System; or
c.         damage to or diminution in value of the Land arising out of the installation, maintenance, lack of maintenance, or removal of the System.

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.

THIS ENDORSEMENT IS VOID IF ATTACHED TO AN OWNER’S POLICY

[Date]
 

STEWART TITLE GUARANTY COMPANY

By: ________________________________
                     Authorized Signatory