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Restrictions, Encroachments and Minerals Endorsement: This endorsement provides insurance against loss or damage resulting from the violations of deed restrictions, encroachments and set back lines existing as of the date of the policy. Mortgage Modification Endorsement: This endorsement insures against loss or damage by reason of the invalidity or unenforceability of the lien of the insured mortgage as a result of the modification and against lack of priority of the mortgage, as of the date of the endorsement, over defects, liens or encumbrances on the title except to the extent shown on the policy.*This endorsement is to be used with the 2006 ALTA Loan Policy if the modification does not trigger substitution loan rates.
If the mortgage modification does trigger substitution loan rates, then endorse the policy using a blank endorsement.
If a 1992 ALTA Loan Policy was issued and the modification does not trigger substitution loan rates, then endorse the policy using a blank endorsement.
However, Citizens’ adjuster estimated the actual cash value and replacement cost value of the policyholder’s loss to be in the .5 to .5 million range.Aggregation Endorsement: This endorsement provides insurance when a mortgage is secured by more than one property.It recites all the policies and aggregates the insurance for all of the policies identified in the endorsement. Future Advance - Knowledge Endorsement: This endorsement provides insurance for the continued priority of a mortgage securing both principal and interest of a loan for advances made to Borrower after date of Policy.The mortgage has priority over liens for charges and assessments;v.The unit will be assessed as a separate parcel for real property taxes;vi.