SHORT FORM RESIDENTIAL
LOAN POLICY - ONE TO FOUR FAMILY
SCHEDULES A & B
SCHEDULE A
Name and Address of Title Insurance Company:
Policy No.: Loan No.:
Address
Reference: Street Address:
County and State:
Amount
of Insurance:
$ Mortgage
Amount: $
Mortgage Date:
Date
of Policy:
at
.
Name
of Insured:
Name
of Borrower(s):
The
estate or
interest in
the Land identified
in this
Schedule A
and which is
encumbered by the
Insured Mortgage
is fee
simple and
is, at
Date of
Policy,
vested in
the borrower(s) shown
in the
Insured Mortgage
and named
above. The
Land referred
to in
this policy
is described
as set
forth in
the
Insured
Mortgage.
This policy consists of one page, including its reverse side, unless an addendum is attached and indicated below:
____
Addendum attached
Subject
to the conditions stated in the endorsement list below, the following ALTA
endorsements are incorporated in this policy if checked:
____
ALTA ENDORSEMENT 4-06 Condominium
____
ALTA ENDORSEMENT
4.1-06 Condominium, if
the Land
or estate
or interest
is referred
to in
the Insured
Mortgage as
a condominium.
____
ALTA ENDORSEMENT
5-06 Planned
Unit Development
____
ALTA ENDORSEMENT
5.1-06 Planned Unit
Development
____
ALTA ENDORSEMENT
6-06 Variable
Rate, if
the Insured
Mortgage contains
provisions which
provide for
an adjustable interest rate.
____
ALTA ENDORSEMENT
6.2-06 Variable Rate-Negative
Amortization, if the
Insured Mortgage
contains provisions which provide
for both
an
adjustable interest
rate and
negative amortization.
____
ALTA ENDORSEMENT
7-06 Manufactured
Housing, if
a manufactured housing
unit is
located on
the Land at
Date of
Policy.
____
ALTA ENDORSEMENT
7.1-06 Manufactured Housing
– Conversion;
Loan
____
ALTA ENDORSEMENT
8.1-06 Environmental Protection
Lien-Paragraph b refers
to the
following state
statute(s):
____
ALTA ENDORSEMENT
9-06 Restrictions,
Encroachments, Minerals
____
ALTA ENDORSEMENT
14-06 Future Advance
– Priority
____
ALTA ENDORSEMENT
14.1-06 Future Advance
– Knowledge
____
ALTA ENDORSEMENT
14.3-06 Future Advance
- Reverse
Mortgage
____
ALTA ENDORSEMENT
22-06 Location-Thetypeofimprovementisaone-to-fourfamilyresidentialstructureandthestreetaddressisasshownabove.
IN WITNESS WHEREOF, the Company has caused its corporate name and seal to be hereunto affixed by its duly authorized officers as of the Date of Policy shown above, the effective date of this policy.
Issued at SAMPLE OLD REPUBLIC NATIONAL TITLE INSURANCE COMPANY
COUNTERSIGNED: by: SAMPLE President
attest: SAMPLE Secretary
SAMPLE
Authorized Officer or Agent
ALTA Short Form Residential Loan Policy 6/07
SUBJECT TO THE EXCEPTIONS FROM COVERAGE CONTAINED IN SCHEDULE B BELOW, AND ANY ADDENDUM ATTACHED HERETO, OLD REPUBLIC NATIONAL TITLE INSURANCE COMPANY, HEREIN CALLED THE ‘COMPANY,’ HEREBY INSURES THE INSURED IN ACCORDANCE WITH AND SUBJECT TO THE TERMS, EXCLUSIONS, CONDITIONS AND STIPULATIONS SET FORTH IN THE AMERICAN LAND TITLE ASSOCIATION LOAN POLICY (10-17-92), ALL OF WHICH ARE INCORPORATED HEREIN. ALL REFERENCES TO SCHEDULES A AND B SHALL REFER TO SCHEDULES A AND B OF THIS POLICY.
SCHEDULE B
EXCEPTIONS FROM COVERAGE AND
AFFIRMATIVE ASSURANCES
This policy does not insure against loss or damage (and the Company will not pay costs, attorneys' fees or expenses) which arise by reason of the matters set forth below, except to the extent that the Company does insure in accordance with and subject to its terms against loss or damage which the insured shall sustain by reason of any inaccuracies in the affirmative assurances set forth below, except as limited in any addendum attached hereto:
1. Those taxes and special assessments which become due and payable subsequent to Date of Policy.
2. Covenants, conditions and restrictions, if any, appearing in the public records. This policy insures that the same have not be violated, except that such affirmative assurance does not extend to covenants, conditions and restrictions relating to environmental protection unless a notice of a violation thereof has been recorded or filed in the public records and is not referenced in any addendum attached hereto. Further, this policy insures that future violation of any covenants, conditions and restrictions appearing in the public records, including any relating to environmental protection, will not result in a forfeiture or reversion of title and that there are no provisions therein under which the lien of the insured mortgage can be extinguished, subordinated or impaired.
3. Any easements or servitudes appearing in the public records. This policy insures that none of the improvements encroach upon the easements and that any use of the easements for the purposes granted or reserved will not interfere with or damage the improvements, including lawns, shrubbery and trees.
4. Any lease, grant, exception or reservation of minerals or mineral rights appearing in the public records. This policy insures that the use of the land for residential one-to-four family dwelling purposes is not, and will not be, affected or impaired by reason of any lease, grant, exception or reservation of minerals or mineral rights appearing in the public records and this policy insures against damage to existing improvements, including lawns, shrubbery and trees, resulting from the future exercise of any right to use the surface of the land for the extraction or development of the minerals or mineral rights so leased, granted, excepted or reserved. Nothing herein shall insure against loss or damage resulting from subsidence.
5. This policy insures against loss or damage by reason of any violation, variation, encroachment or adverse circumstance affecting the title that would have been disclosed by an accurate survey. The term “encroachment” includes encroachments of existing improvements located on the land onto adjoining land, and encroachments onto the land of existing improvements located on adjoining land.
ALTA SHORT FORM RESIDENTIAL LOAN POLICY
REVISED 6/07