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Basic Manual of Title Insurance, Section II

Section II IndexSection II Index

(Form T-34: Increased Value)   

INCREASED VALUE ENDORSEMENT

Issued By

____________________ TITLE INSURANCE COMPANY
 

This Endorsement is made a part of Owner Policy Number _____________, dated ____________.
 
As of the date of this endorsement, the "Amount" on Schedule A is deleted and the following amount is substituted:
$ _______________________.
 
Under this endorsement, we do not cover title risks or insure against matters:
  a. created, suffered, assumed, or agreed to by you (the insured), or
  b. known to you (the insured) but not to us (the company) at the date of this endorsement unless they appear in the Public Records on the Policy Date.
This endorsement does not change the Policy Date. The terms of the Policy apply to this endorsement.

Endorsement Premium: $__________________________
 
Endorsement Date: _______________________, 20____

ATTEST:

__________________________________________

 __________________________Title Insurance Co.

By: ______________________________________
                                President


(Form T-34: Increased Value)

Section II IndexSection II Index

(Form T-35: Future Advance/Revolving Credit Endorsement)   

 
FUTURE ADVANCE /REVOLVING CREDIT ENDORSEMENT (T-35)    

 

ISSUED BY 

__________ TITLE  
INSURANCE COMPANY 
 
File No.  __________

 

Attached to and made a part of ______________________ Title Insurance Company Loan Policy Number ______________ dated the _______ day of _________________, 20 ______.

 

 

 

1.  The insurance for Advances added by Section 2 of this endorsement is subject to the exclusions in Section 3 of this endorsement and the Exclusions from Coverage in the Policy, except Exclusion 3(d), the provisions of the Conditions, and the exceptions contained in Schedule B.

a.   “Agreement,” as used in this endorsement, shall mean the note or loan agreement secured by the Insured Mortgage or the Insured Mortgage.

b.   “Advances,” as used in this endorsement, shall mean only those advances of principal indebtedness made after the Date of Policy as provided in the Agreement, including expenses of foreclosure, amounts advanced pursuant to the Insured Mortgage to pay taxes and insurance, assure compliance with laws, or to protect the lien of the Insured Mortgage before the time of acquisition of the Title, and reasonable amounts expended to prevent deterioration of improvements, together with interest on those advances.

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

a.   The invalidity or unenforceability of the lien of the Insured Mortgage as security for each Advance.

b.   The lack of priority of the lien of the Insured Mortgage as security for each Advance over any lien or encumbrance on the Title.

c.   The invalidity or unenforceability or loss of priority of the lien of the Insured Mortgage as security for the Indebtedness and Advances resulting from (i)  re-Advances and repayments of Indebtedness, (ii)  lack of outstanding Indebtedness before an Advance, or (iii) the failure of the Insured Mortgage to comply with the requirements of state law of the state in which the Land is located to secure Advances.

3.   This endorsement does not insure against loss or damage (and the Company will not pay costs, attorneys’ fees, or expenses) resulting from:

a.   Advances made after a Petition for Relief under the Bankruptcy Code (11 U.S.C.) has been filed by or on behalf of the mortgagor.

b.   The loss of priority of the lien of the Insured Mortgage, as security for Advances, to the lien of real estate taxes or assessments on the Title imposed by governmental authority arising after Date of Policy.

c.   The loss of priority of the lien of the Insured Mortgage as security for any Advance, to a federal tax lien, which Advance is made after the earlier of (i) actual knowledge of the Insured that a federal tax lien was filed against the mortgagor, or (ii) the expiration of more than forty-five days after notice of a federal tax lien filed against the mortgagor.

d.   The loss of priority of the lien of the Insured Mortgage as security for Advances to any federal or state environmental protection lien. 

e.   Usury, or any consumer credit protection or truth-in-lending law. 

4.    The Amount of Insurance shall include Advances. 

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. 

[Witness clause optional]

 

BLANK TITLE INSURANCE COMPANY

 

 

By: _______________________________________

Authorized Signatory

 

(Endorsement Form T-35: Future Advance/Revolving Credit)

 
Section II IndexSection II Index

   (Endorsement Form T-36: Environmental Protection Lien)

ENDORSEMENT
Attached to Policy No.
Issued by

_________________ TITLE INSURANCE COMPANY
 

The insurance afforded by this endorsement is only effective if the land is used primarily for residential purposes.

The Company insures the insured against loss or damage sustained by reason of lack of priority of the lien of the insured mortgage over:

  (a) any environmental protection lien which, at the Date of Policy, is recorded in those records established under state statutes at the Date of Policy for the purpose of imparting constructive notice of matters relating to real property to purchases for value and without knowledge, or filed in the records of the clerk of the United States district court for the district in which the land is located, except as set forth in Schedule B; or
  (b) any environmental protection lien provided for by any state statute in effect at the Date of Policy, except environmental protection liens provided for by the following state statutes:
This endorsement is made a part of the policy and is subject to all of the terms and provisions thereof and of any prior endorsements thereto. Except to the extent expressly stated, it neither modified any of the terms and provisions of the policy and any prior endorsements, nor does it extend the effective date of the policy and any prior endorsement, nor does it increase the face amount thereof.
(Witness clause optional)
_____________________TITLE INSURANCE COMPANY

By: ____________________________________________


(Endorsement Form T-36: Environmental Protection Lien)

(Go to Rule R-11.g; RuleP-9.b.9)

Section II IndexSection II Index

(Endorsement Form T-38: P-9b3)   

MORTGAGEE POLICY OF TITLE INSURANCE P-9.b.(3)
ENDORSEMENT FORM

----Partial Release, Release of Additional Collateral,
Modification Agreement, Reinstatement Agreement, or
Release From Personal Liability

ENDORSEMENT NUMBER: ______________
Premium: $ __________________                                        G. F. No.: ____________________________
Attached to and made a part of _____________________ Title Insurance Company Mortgagee Policy No. _______________________ this _________ day of ____________, 20____.

As to the above numbered mortgagee policy, the company will not claim that the policy coverage has terminated or that policy coverage has been reduced, solely by reason of the execution of:

__________________________________________________________________

(Here describe the instrument by stating whether it is a partial release, release of additional collateral, modification agreement, reinstatement agreement or release from personal liability and then more fully describe the instrument by filling the blanks below.)

dated the ____day of _____________, 20___, filed for record on the ______ day of ___________, 20___ at ___ M. in the office of the County Clerk of ________________ County, Texas, under clerk's file number _________ and/or recorded in Volume /Book _______, Page ________ of the __________ Records of said County.

If, by the terms of the above described instrument, the maturity date of the indebtedness secured by the insured lien is extended beyond the original period of limitation applicable to such indebtedness, this endorsement shall be construed to include either paragraph "A" or paragraph "B" below.

  A) As to all mortgagee policies issued before March 1, 1983: "The issuance of this endorsement shall not extend the liability hereunder (should the insured remain as a lien holder only), beyond the period of limitation applicable to the indebtedness secured by the lien described on Schedule "A" calculated from the original maturity date of such indebtedness."
  B) As to all mortgagee policies issued after February 28, 1983: "The issuance of this endorsement shall maintain the liability hereunder (should this insured remain as a lien holder only), for the period of limitation applicable to the indebtedness secured by the lien described on Schedule "A" calculated from the renewed and extended maturity date of such indebtedness."
This endorsement, notwithstanding anything in the above described instrument to the contrary, does not change the original effective date of the mortgagee policy or the face amount of insurance stated on Schedule "A" thereof, nor does it alter or increase the coverage of the policy.

This endorsement shall not be construed to include within its scope any modification agreement, reinstatement agreement or other instrument not specifically set forth above and described herein by volume/page or clerk's file number.

The Company shall have no liability by reason of: (i) the invalidity of the above described instrument or any part thereof; or (ii) the failure to record any renewal and/or extension agreement.

This endorsement is subject to the Schedule "B" exceptions and the conditions and stipulations of the above numbered Mortgagee Policy.

IN WITNESS HEREOF, the _______________________TITLE INSURANCE COMPANY has caused this Endorsement to be executed by its President under the seal of the Company, but this Endorsement is to be valid only when it bears an authorized countersignature.

________________________ Title Insurance Company

_____________________________________________
President                                

_____________________________________________
Authorized Countersignature                  

---NOTICE---
No title search is performed in connection
with the issuance of this endorsement form.

(Endorsement Form T-38: P-9 b3)

(Go to Rule R-11.b; Rule P-9. b.9)

Section II IndexSection II Index

   (Endorsement Form T-39: Balloon Mortgage)

BALLOON MORTGAGE ENDORSEMENT

Attached to Policy No.

Issued by
____________________Title Insurance Company

The Company insures the insured mortgagee against loss or damage by reason of:
(1) The invalidity or unenforceability of the lien of the insured mortgage resulting from the provisions therein which provide for a Conditional Right to Refinance and a change in the rate of interest as set forth in the Mortgage Rider.
(2) Loss of priority of the lien of the insured mortgage as security for the unpaid principal balance of the loan, together with interest thereon, which loss of priority is caused by the exercise of the Conditional Right to Refinance and the extension of the loan term to the New Maturity Date set forth on the Rider and a change in the rate of interest, provided that all the conditions set forth in the Balloon Mortgage Rider have been met, the mortgagor remains the owner and the occupant of the land, and there are no other liens, defects, and encumbrances, or other adverse matters affecting title arising subsequent to Date of Policy.
This endorsement does not insure against loss or damage based upon (a) usury or (b) any consumer credit protection or truth in lending law or (c) bankruptcy.

This endorsement is made a part of the policy and is subject to all the terms and provisions thereof and of any prior endorsements thereto. Except to the extent expressly stated, it neither modifies any of the terms and provisions of the policy or any prior endorsements, nor does it extend the effective date of the policy and any prior endorsements, nor does it increase the face amount thereof.

_____________________ Title Insurance Company

By: _______________________________________


(Form T-39: P-9.b. 3)

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Last updated: 02/23/2011



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