MANUAL OF CHARGES AND FORMS FOR USE IN THE STATE OF SOUTH DAKOTA

Transcription

1 Page 1 0 MANUAL OF CHARGES AND FORMS FOR USE IN THE STATE OF SOUTH DAKOTA This manual is for the use of issuing attorneys, title agencies and title offices issuing Stewart Title Guaranty Company's Title Insurance Policy. Any other use or reproduction of this manual is prohibited. All inquiries concerning the charges for title insurance and forms in this manual should be directed to the following: John L. Killea General Counsel Stewart Title Guaranty Company 1980 Post Oak Blvd. Houston, Texas jkillea@stewart.com All inquiries concerning the filing of this manual should be directed to the following: Robert Burns Vice President, Regulatory Administrator Stewart Title Guaranty Company 1980 Post Oak Blvd., Suite 710 Houston, Texas bburns@stewart.com Last Updated:

2 Page 2 0 Table of Contents Section A General Provisions PAGE Definitions 4 Section B Policies PAGE 1. Basic Schedule of Charges 5 2. Extended Policy Charges 6 3. ALTA United States Policy and Datedown Endorsements 7 4. Supplemental Charges And Rules 8 a. Describes general rules 8 b. Additional Chains of Title 8 c. Commitments and Binders 8 d. Cancellations Inactive Orders 8 e. Charges For Forms and Services Not Schedules 8 f. Waiver of Rights of Subrogation 8 g. Multiple Policies With Tie-In Endorsement 8 h. Policy Re-Write and/or Re-Organization of Loan 8 i. National Title Services Group Rating Plan 8 j. Commercial Charges 9 5. Owner s Policies 10 a. Double Sale 10 b. Increase of Liability 10 c. Simultaneous Issue 10 d. Insured Owner 10 e. HOT Policy 10 f. Gold Policy 11 g. ALTA Residential Homeowners Title Insurance Policy Loan Policies 12 a. General describes types of policies and simultaneous issuance 12 b. ALTA Loan Policies 12 c. Temporary Loan Policies (Construction Loan) 12 d. Future Advances, Supplemental Mortgages, Advances, Extensions 12 e. Assignments and Modifications of Loans 12 f. Limited Liability Policy (Home Equity Policy) (HEP) 12 g. Junior (Second Mortgage) Policy Rates 12 h. ALTA Residential Limited Coverage Junior Loan Policy 13 PAGE Table of Contents

3 Page 3 0 i. ALTA Short Form Residential Limited Coverage Junior Loan Policy 13 With Addendum j. Stewart Master Residential Loan Policy 13 k. Gold Comprehensive Protection Loan Policy 13 l. Mortgage Reorganization (Refinance) 13 m. Secondary Market Short Form Residential Loan Policy 14 n. Short Form Commercial Loan Policy 15 o. ALTA Expanded Coverage Residential Loan Policy and ALTA Short Form Expanded Coverage Residential Loan Policy Leasehold Policies Guarantees and other Insurance Products 17 a. Trustee s Sale Guarantee b. Litigation Guarantee c. Environmental Recorded Document Guarantee d. Other Guarantees 9. UCC Policy HUD Resale Binder Charge Multiple Parcel Charge and Subdivider Rates Reissue Charges, Credits and Additional Fees List of Forms 23 a. Policy Forms b. Guarantee Forms c. Commitment Forms 14. Standard Regional Exceptions 24 Section C Endorsements PAGE a. ALTA Form Endorsements 27 b. STG Form Endorsements 40 c. CLTA Form Endorsements 48 Table of Contents

4 Page 4 0 A. GENERAL PROVISIONS DEFINITIONS RESERVED FOR FUTURE FILINGS. Section A -- General

5 Page 5 0 B. POLICIES 1. Basic Schedule of Charges a. Title Insurance Rates for Owner s and Leasehold Policies Liability Premium From To (per $1,000 of liability) Minimum Charge $50 Up to and $50,000 $3.50 including $50,001 $100,000 add $3.00 $100,001 $500,000 add $2.00 $500,001 $1,000,000 add $1.75 $1,000,001 Over $1.25 Policies in amount other than even thousands will be charged for at the rate for the next highest $1,000 of coverage. b. Title Insurance Rates for Mortgage Policies Liability Premium From To (per $1,000 of liability) Minimum Charge $50 Up to and $50,000 $2.50 including $50,001 $100,000 add $2.00 $100,001 $500,000 add $1.75 $500,001 $1,000,000 add $1.50 $1,000,001 Over $1.00 Policies in amount other than even thousands will be charged for at the rate for the next highest $1,000 of coverage. Section A -- General

6 Page EXTENDED POLICY CHARGES An extended coverage policy may be issued by removing one or more of the standard exceptions upon fulfillment of the requirements of the Company. An extended coverage policy may be issued without additional charge or at a rate commensurate with the risk assumed and determined by the Company, but not to exceed $.35/thousand for each standard exception removed. Sec. B-2 Extended Coverage

7 Page U.S. POLICY FORM AND DATEDOWN ENDORSEMENT-SPECIAL PROVISIONS FOR CHARGES RESERVED FOR FUTURE FILINGS Sec. B-3 ALTA US Policies

8 Page SUPPLEMENTAL CHARGES AND RULES RESERVED FOR FUTURE FILING a. General Rules - Amount of Insurance RESERVED FOR FUTURE FILING b. Additional Chains of Title RESERVED FOR FUTURE FILING c. Commitments and Binders RESERVED FOR FUTURE FILING d. Cancellations - Inactive Orders RESERVED FOR FUTURE FILING e. Charges for Forms and Services Not Scheduled Herein RESERVED FOR FUTURE FILING f. Waiver of Rights of Subrogation RESERVED FOR FUTURE FILING g. Multiple Issuance of Policies with Tie-In Endorsement RESERVED FOR FUTURE FILING h. Policy Re-Write and/or Re-Organization of Loan RESERVED FOR FUTURE FILING i. National Title Services Group Rating Plan RESERVED FOR FUTURE FILING Sec. B-4 Supplemental Rules

9 Page 9 0 j. Commercial Charges Notwithstanding the fees, charges, and/or rates in the filings by the Company, special pricing considerations may be given by the Company on transactions involving policies aggregating $20,000, or more on a single risk, based on various factors including geographic location, competitive environment, expenses, reinsurance requirements and other reasonable considerations, but in no event shall the rate be less than $.35 per thousand dollars of liability. Before agreeing or committing to issue a title insurance policy in such transaction, the Company shall require the gross premium (risk rate) to the Company, net of reinsurance costs and net of that portion of the rate or charge to the public retained by the Company s [underwritten company] title insurance agent, but no less than $.35 per $1000 of retained liability. [Approved ] Sec. B-4 Supplemental Rules

10 Page OWNER'S POLICIES RESERVED FOR FUTURE FILING a. Double Sale RESERVED FOR FUTURE FILING b. Increase of Liability RESERVED FOR FUTURE FILING c. Simultaneous Issue The simultaneous issue rate applies when an owner s title policy and a mortgage title policy, covering identical land, are issue simultaneously with the same effective date. The date must be coincident with or subsequent to the dates of the filing for record of both the deed to the mortgagor and the mortgage and the owner s policy must show the mortgage as an exception. The rate shall be the applicable rate for the owner s policy, plus $25 for the mortgage policy, provided that the amount of the mortgage policy does not exceed the amount of the owner s policy. if the mortgage policy amount exceeds the amount of the owner s policy, the excess shall be computed at the original mortgage rate under the applicable bracket or brackets. When an owner s and leasehold policy covering identical land are to be issued simultaneously, the rate for the leasehold policy, in the amount not in excess of the owner s policy, will be 30% of the rate charged for the owner s policy, with a minimum charge of $50. When two owner s policies are issued simultaneously to different insureds, each covering the entire fee for identical land, the applicable rate will apply to the policy in the larger amount and the premium on the other will be computed at 30% of the rate, with a minimum charge of $50 per policy. d. Insured Owner RESERVED FOR FUTURE FILING e. HOT Policy RESERVED FOR FUTURE FILING Sec. B-5 Owner s Policies

11 Page 11 0 f. GOLD Policy The Gold Comprehensive Protection Owner s Policy shall only be issued on one-to-four family residences. The policy shall be subject to a surcharge of 10% of the basic schedule of charges which shall be levied in addition to the charge for a standard coverage owner s policy. g. ALTA Homeowner s Policy of Title Insurance for One-to-Four Family Residence This policy is similar to the 2008 ALTA Homeowner s Policy of Title Insurance. It includes additional coverage. The charge for this policy is a surcharge of 10% of the basic schedule of charges in addition to the charge for a standard coverage owner s policy. Sec. B-5 Owner s Policies

12 Page LOAN POLICIES RESERVED FOR FUTURE FILING a. General RESERVED FOR FUTURE FILING b. ALTA Loan Policies RESERVED FOR FUTURE FILING c. Temporary Loan Policies RESERVED FOR FUTURE FILING d. Policies Covering Future Advances, Extensions of New Mortgages, Supplemental Mortgage and/or New Mortgage to Insured Mortgagee RESERVED FOR FUTURE FILING e. Assignment of Mortgage or Modification of Terms RESERVED FOR FUTURE FILING f. Limited Liability Policy (Home Equity Policy) The Home Equity Policy (HEP) is a limited coverage policy available to lenders making consumer laons on single family dwellings. The charge includes the cost for a special Revolving Credit-Variable Rate Endorsement and a Continuation Endorsement. The charge is $2.00 per thousand. g. Junior (Second Mortgage Policy Rates) When a title insurance policy is requested to insure a second or junior mortgage on property securing a residential one-to-four dwelling, the new policy shall then be issued based on the following rates: The charge for coverage up to and including $10,000: $70 Coverage in excess of $10,000 shall be based on the additional fee of $1.75 per $1,000 increments of insurance coverage requested up to the face amount of each policy. Policies in amount other than even thousands will be charged for at the rate for the next highest $1,000 of coverage. (Approved ) Sec. B-6 Loan Policies

13 Page 13 0 h. ALTA Residential Limited Coverage Junior Loan Policy (M-9873) This policy is used by lenders who require a low cost product that provides limited coverage on institutional loans where the borrower is seeking to place a second loan against their property and only requires a limited search of the public records. The charge for this policy is $2.00 per thousand with a minimum charge of $ i. ALTA Short Form Residential Limited Coverage Junior Loan Policy with Addendum (M-9876) This policy is the abbreviated short form version of the ALTA Residential Coverage Junior Loan Policy (M-9873). The charge for this policy is $2.00 per thousand with a minimum charge of $ j. Stewart Master Residential Loan Policy Schedule A and B These schedules are to be issued with the American Land Title Association Loan Policy (M-9402)(6/17/06). Together they are designed to insure only equity loans on the primary residence or secondary residences of the owner/borrower. Coverage under the policy is not available for any first liens or for refinance of first liens on primary residences or secondary residences or any other type of property owner by the borrower. Charges are as follows: Range of Liability: Fee: Up to and including $25,000 of written liability $25 Over $25,000 and up to and including $250,000 $65 Over $250,000 and up to and including $500,000 $125 k. GOLD Comprehensive Protection Loan Policy The Gold Comprehensive Protection Loan Policy shall be issued on oneto-four family structures. The policy includes coverage for endorsements typically issued separately for ALTA forms 9, 6, and 6.2; STG Subdivision Map Act; and CLTA 116. The policy packages the coverage and removes the need to separately issue and report the above endorsements. The surcharge for the use of this policy is $50 in addition to the charge for an ALTA loan policy or the charge when issued simultaneously. l. Mortgage Reorganization (Refinance) RESERVED FOR FUTURE FILING Sec. B-6 Loan Policies

14 Page 14 0 m. Secondary Market Short Form Residential Loan Policy One-to-Four Family (M-9802) The Secondary Market Short Form Residential Loan Policy One-to-Four Family policy is designed to provide limited title insurance that meets the title insurance requirements of the Guides of Fannie Mae and Freddie Mac. The Policy is available for first lien refinance and first lien home equity loans as well as first lien purchase transactions. In the latter case, a full priced owner policy will be issued where applicable. The Policy does not contain all of the insuring provisions of the regular ALTA Loan Policy and does not contain specific title exceptions as to matters recorded in the public records. The policy does insure the validity and priority of the mortgage and does insure against title matters to the extent required by the Guides of Fannie Mae and Freddie Mac. This form has been approved by Fannie Mae and Freddie Mac, so its coverage will be acceptable to the lending community. The Policy would be issued only for one-to-four family improved residential properties in established subdivisions for mortgages issued to institutional lienholders. The policy has been specifically designed for Internet originated loans and the pricing and cost structure has been designed for a centrally processed, Internet ordered title insurance product. In order to produce this Policy at a reduced rate, Stewart Title Guaranty Company would issue it (in accordance with any applicable state law) only if the order, applicable legal description or address, and names of parties to loan transaction for issuance were placed and communications were sent electronically through websites or other electronic communications locations explicitly designated by Stewart Title Guaranty Company for placement of the Secondary Market Short Form Residential Loan Policy-One-To-Four Family. To the extent allowed by applicable federal and state law, the policies would be delivered electronically to lenders, if such delivery is acceptable to lenders, using the same software platforms used for order. The charge for the Secondary Market Short Form Residential Loan Policy One-to-Four Family Policy is as follows: Range of Liability Fee: Up to & including $100, of liability written liability $350 Over $100, and up to & including $250,000 $350 Over $250, and up to & including $500,000 $460 Over $500, and up to & including $750,000 $700 Over $750, and up to & including $1,000,000 $925 Over $1,000, and up to & including $1,250,000 $1,098 Over $1,250, and up to & including $1,500,000 $1,290 Sec. B-6 Loan Policies

15 Page 15 0 n. Short Form Commercial Loan Policy (9821) This policy is similar to the ALTA Short Form Residential Loan Policy which is available on residential transactions. The Short Form Commercial Loan Policy allows lenders making loans secured by commercial real estate faster access to obtaining their policy as well as experiencing saving in time and money by using this form of policy. The charge for this policy will be the currently approved rate for the standard Mortgage Policy (shown in item 2 of this manual), plus the filed rate, if any, for any endorsement as indicated for use in Schedule A of the policy. o. ALTA Expanded Coverage Residential Loan Policy One-to-Four Family Residence; ALTA Short Form Expanded Coverage Residential Loan Policy One-to-Four Family Residence These policies supplement the policies already approved for use in South Dakota by expanding the coverage currently offered and providing a choice to the potential insured. They provide more coverage than the other ALTA Loan Policies and contain 28 insuring clauses (Covered Risks). The said ALTA Expanded Coverage Residential Loan Policy is an enhanced version of the ALTA Loan Policy (6/17/06) approved for use in South Dakota and includes many of the same expanded coverages provided to the consumer by the ALTA Homeowner s Policy of Title Insurance, as well as a number of additional coverages unique to lenders. The rates for the said ALTA Expanded Coverage Residential Loan Policy and the said ALTA Short Form Expanded Coverage Residential Loan Policy will be 110% of the rate applicable for the Basic Loan (Mortgage) Policy, currently approved for South Dakota, plus any additional charges for endorsements, if any, issued separately or included in the said ALTA Expanded Coverage Residential Loan Policy coverage. Sec. B-6 Loan Policies

16 Page LEASEHOLD POLICIES RESERVED FOR FUTURE FILING Sec. B-7 Leasehold Policies

17 Page GUARANTEES AND OTHER INSURANCE PRODUCTS a. Trustee s Sale Guarantee RESERVED FOR FUTURE FILING b. Litigation Guarantee RESERVED FOR FUTURE FILING c. Environmental Recorded Document Guarantee RESERVED FOR FUTURE FILING d. Other Guarantees RESERVED FOR FUTURE FILING Sec. B-8 Guarantees

18 Page The Article 9 Comprehensive Plus Policy of Title Insurance (Lender s) (M-9804); The Article 9 Comprehensive Plus Policy of Title Insurance (Owner s) (O-9803) The ARTICLE 9 COMPREHENSIVE PLUS POLICY OF TITLE INSURANCE (LENDER S) and the ARTICLE 9 COMPREHENSIVE PLUS POLICY OF TITLE INSURANCE (OWNER S) are new title insurance policies that will be issued to owners of and lenders secured by liens on various types of collateral, including (if applicable) fixtures, timber, as-extracted collateral and other Collateral. The Owner s Policy insures the owner against stated liens that may have attached to the Collateral. The Lender s Policy insures the lender and primarily insures (1) against stated liens that may have attached to the Collateral, (2) that the Lender s lien has attached to the Collateral, and (3) that the Lender s lien has been perfected, as provided in the Policy. BASIC RATES AMOUNT OF INSURANCE: BASIC RATES (for amount of insurance excess of prior bracket of liability): $0 up to and including $100,000 $500 $100,001 to $300,000 $3.85/$1000 of additional insurance (or any portion thereof) $300,001 to $1,000,000 $2.00/$1000 of additional insurance (or any portion thereof) $1,000,001 to $3,000,000 $1.50/$1000 of additional insurance (or any portion thereof) $3,000,001 to $5,000,000 $1.25/$1000 of additional insurance (or any portion thereof) $5,000,001 to $10,000, /$1000 of additional insurance (or any portion thereof) $10,000,001 to $25,000,000 $0.85/$1000 of additional insurance (or any portion thereof) $25,000,001 to $50,000,000 $0.65/$1000 of additional insurance (or any portion thereof) $50,000,001 and above $.50/$1000 of additional insurance (or any portion thereof) All rates reflect the premium rate for the Article 9 Comprehensive Plus Policy, and do not include cost for reinsurance required by the insured, UCC searches, UCC preparation costs, and UCC filings charges and fees. Any order for the Article 9 Comprehensive Plus Policy must be placed and communications must Sec. B-9 Article 9 UCC Policy

19 Page 19 0 be sent through websites or other electronic communications locations designated by Stewart Title Guaranty Company for placement and receipt of order for the Article 9 Comprehensive Plus Policy. SIMULTANEOUS RATE If an Article 9 Comprehensive Plus Policy of Title Insurance (Owner s) is issued simultaneously with an Article 9 Comprehensive Plus Policy of Title Insurance (Lender s) the rate shall be the Basic Rate for the Amount of Insurance for the policy with the larger amount of insurance, plus $500 for the additional policy. MIXED COLLATERAL TRANSACTIONS In transactions of any amount where both personal property and real property secure the same indebtedness, and Stewart Title Guaranty Company policies are simultaneously issued on both the real property and personal property, the rate for the Article 9 Comprehensive Plus Policies shall be 90 % of the applicable rate, but in no event less than $500 for each policy. Sec. B-9 Article 9 UCC Policy

20 Page HUD RESALE BINDER CHARGE RESERVED FOR FUTURE FILING Sec. B-10 HUD Resale Binders

21 Page MULTIPLE PARCEL CHARGE AND SUBDIVIDER RATES RESERVED FOR FUTURE FILING Sec. B-11 Subdivider Rate

22 Page REISSUE CHARGES, CREDITS, AND ADDITIONAL FEES When a title insurance policy is issued on any parcel of land, title to which has been insured by any company prior to the date of the new application and upon presentation to the Company of satisfactory evidence thereof, the new policy shall be entitled to a reissue rate of 75% of the rate for original insurance. Reissue rates shall apply up to the face amount of the previous policy. If the amount of insurance requested under the new policy exceeds the amount of the prior policy, the excess shall be computed at the original rates under the applicable bracket or brackets. Sec. B-12 Reissue Rate

23 Page LIST OF FORMS The following policies are available unless shown hereafter as withdrawn from current usage by the Company, such withdrawn policy forms shall only be used upon the approval of the National Legal Department, Houston: a. Policies Form Name Date Form Withdrawn Number Home Owners Title Policy (12/28/94) O-9841 Foreclosure Insurance Policy (3/95) M-9839 Home Equity Policy (Rev.1/94) M-9945 ALTA Owner s Policy, Schedules A and B (6/17/06) M-9401 ALTA Owner's Policy (10/17/92) O-9993 ALTA Loan Policy, Schedules A, B1 & B2 (6/17/06) M-9402 ALTA Loan Policy (10/17/92) M-9994 ALTA Leasehold Loan Policy (10/17/92) M-9995 ALTA Leasehold Owner s Policy (10/17/92) O-9994 ALTA Construction Loan Policy (10/17/92) CCL-9997 ALTA Short Form Residential Loan Policy (4/6/90) U-9991 X ALTA Master Residential Loan Policy Sch. & Add. (10/17/92) U-9953 ALTA Short Form Residential Loan Policy (10/17/92) U-9954 ALTA Short Form Residential Loan Policy and Addendum (6/17/06) U-9404 ALTA Short Form Residential Loan Policy and Addendum (6/17/07) U-9475 ALTA Owner's Policy (4/6/90) O-9981 ALTA Loan Policy (4/6/90) M-9982 ALTA Leasehold Owner's Policy (4/6/90) O-9983 ALTA Leasehold Loan Policy (4/6/90) M-9984 ALTA Construction Loan Policy (4/6/90) M-9985 ALTA Master Residential Loan Policy - Sch. & Add. (4/6/90) U-9990 X ALTA Owner's Policy (10/21/87) O-9941 ALTA Loan Policy (10/21/87) M-9942 ALTA Leasehold Owner's Policy (10/21/87) O-9909 X ALTA Leasehold Loan Policy (10/21/87) M-9910 X ALTA Construction Loan Policy (10/21/87) CCL-9908 X ALTA Master Residential Loan Policy - Sch. & Add. (10/21/87) U-9999 X ALTA Short Form Residential Loan Policy & Add 10/19/88 U-9927 X ALTA Residential Title Insurance Policy (6/1/87) O-9917 Standard Owner s X ALTA Owner s Policy 1970 O-9921 X ALTA Loan Policy 1970 O-9922 X ALTA Owner s Policy 1970 O-9901 X ALTA Owner's Policy, Form B O-9902 X ALTA Loan Policy M-9903 X CLTA Loan Policy X ALTA Leasehold Owner's Policy 1975 O-9909 X ALTA Leasehold Loan Policy 1975 M-9910 X ALTA Construction Loan Policy 1975 CLL-9808 X ALTA Master Loan Policy 1970 M-9903 X Sec. B-13 Policy Form Lists

24 Page 24 0 ALTA Residential Title Policy 1979 O-9917 X STG Commercial Short Form Loan Policy ALTA Short Form Residential Loan Policy 10/21/00 U-9819 ALTA Short Form Residential Loan Policy 6/17/07 U-9475 ALTA Homeowners Policy of Title Insurance O-9891 ALTA Homeowners Policy of Title Insurance 1/1/08 O-9476 ALTA Homeowners Policy of Title Insurance 10/22/03 O-9562 ALTA Homeowners Policy of Title Insurance 2/3/10 O-9540 GOLD Comp Prot Owner s Policy 8-97 O-9871 GOLD Comp Prot Loan Policy 8-97 O-9872 ALTA SFRLC Junior Loan Policy 10/29/96 M-9876 ALTA RLC Junior Loan Policy 10/29/96 M-9873 ALTA Short Form Policy 10/17/92 M-9998 ALTA US Policy 9/28/91 O-9998 U.S.A. Owner s Policy X Interim Title Insurance Binder 1965 B9907 Secondary Market Short Form Res Loan M-9802 Stewart Master Residential Loan Policy, Schedules A & B 2009 ALTA Expanded Coverage Residential Loan Policy M-9811 ALTA Expanded Coverage Residential Loan Policy 1/1/08 M-9478 ALTA Expanded Coverage Residential Loan Policy 7/26/10 M-9551 ALTA Short Form Expanded Residential Loan M-9812 ALTA Short Form Expanded Residential Loan 1/1/08 U-9479 ALTA Short Form Expanded Residential Loan 7/26/10 U-9552 b. Guarantees Form Name Date Form Withdrawn Number Guarantee 6/6/92 G-1578 c. Commitments: Form Name Date Form Withdrawn Number ATLA Commitment X ALTA Commitment ALTA Commitment (FOR HOT SFRLP) 1966 X ALTA Commitment (FOR HOT SFRLP) 1982 ALTA Commitment, Schedules A, B1 & B2 6/17/ UN ALTA Plain Language Commitment, Schedules A, B1 & B2 6/17/ ALTA Short Form Commitment 1/17/ UN Sec. B-13 Policy Form Lists

25 Page STANDARD EXCEPTIONS FROM COVERAGE RESERVED FOR FUTURE FILING Sec. B-14 Standard Exceptions

26 Page 26 0 C. ENDORSEMENTS Section C -- Endorsements

27 Page 27 0 a. ALTA Form Endorsements ALTA 1 and 1-06 Street Assessments This endorsement assures the insured mortgagee under a loan policy that there are no street improvements under construction or completed which at the date of the issuance are prior or at a later date may be prior to the lien of the insured mortgage. It may be given upon request by endorsement or by additional coverage within the body of a loan policy if the issuing company is provided with satisfactory evidence to justify such coverage. The charge for this endorsement shall be $25. ALTA 2 and 2-06 Truth in Lending This endorsement may be issued in connection with a loan policy to protect the insured lender against rescission under the Federal Truth in Lending Act. The charge for this endorsement shall be 10% of the original charge for loan policies. ALTA 3 and 3-06 Zoning This endorsement to the owner's or loan policy is designed for issuance on unimproved property and provides assurance on the applicable zoning classification and authorized use of the land described in the policy. Approval of the National Legal Department and a legal opinion from a Martindale-Hubbell A-V or B-V rated attorney is required before this endorsement may be issued. The charge for this endorsement shall be 20% of the original charge for loan policies. ALTA 3.1 and Zoning - Completed Structure This endorsement to the loan or owner's policy is designed for issuance on improved property. It is preferred that this endorsement refer in the second paragraph to the "following use or uses" by specifically excerpting language from the zoning ordinance, not by stating the proposed or actual use. Approval of the National Legal Department and a legal opinion from a Martindale-Hubbell A-V or B-V rated attorney is required before this endorsement may be issued.

28 Page 28 0 The charge for this endorsement shall be 20% of the original charge for loan policies. In the event that additional expenses are incurred by reason of the need to obtain an attorneys opinion or a reinsurer requires a charge to extend this coverage as part of their agreement to undertake this coverage, such surcharge shall be added to the foregoing amounts where applicable. ALTA 4 and 4-06 Condominium The condominium endorsement may be issued in connection with the issuance of a loan policy on a unit of a condominium. Each of the separately stated coverage contained in the condominium endorsement may be issued either with or without the others. The charge for this endorsement shall be $25. ALTA 4.1 and Condominium The condominium endorsement may be issued in connection with the issuance of a loan policy on a unit of a condominium. Each of the separately stated coverage contained in the condominium endorsement may be issued either with or without the others. The charge for this endorsement shall be $25. ALTA 5 and 5-06 Planned Unit Development (PUD) The PUD endorsement may be issued in connection with the issuance of a loan policy on a lot of a PUD. Each of the separately stated coverage contained in the PUD endorsement may be issued either with or without the others. The charge for this endorsement shall be $25 on residential property and 20% on commercial property. ALTA 5.1 and Planned Unit Development This PUD endorsement may be issued in connection with the issuance of a loan policy. Each of the separately stated coverage contained in the PUD endorsement may be issued either with or without the others. The charge for this endorsement shall be $25.

29 Page 29 0 ALTA 6 and 6-06 Variable Rate Mortgage The variable rate mortgage endorsement may be issued in connection with a loan policy for variable rate mortgages. The charge for this endorsement shall be $25 on residential property and 15% on commercial property. ALTA 6.1 Variable Rate Mortgage - Regulations The variable rate mortgage--regulations endorsement may be issued in connection with a loan policy when it is necessary for the lender to comply with certain statutes or regulations concerning variable rate mortgages. The charge for this endorsement shall be $25 on residential property and 15% on commercial property. ALTA 6.2 and Variable Rate Mortgage - Negative Amortization The variable rate mortgage--negative amortization endorsement may be used in connection with a loan policy when it is necessary for the lender to comply with certain statutes or regulations concerning variable rate mortgages with negative amortization. The charge for this endorsement shall be $25 on residential property and 15% on commercial property. ALTA 7 and 7-06 Manufactured Housing Unit The manufactured housing unit endorsement may be issued in connection with a loan policy when the insured premises are improved with one single family residence. The charge for the endorsement shall be $25. ALTA 7.1 and Manufactured Housing - Conversion; Loan This endorsement is issued with a Loan Policy and insures that (unless excepted in Schedule B); (1) the owner of the land owns the manufactured housing unit. (2) the manufactured housing unit is on the land, (3) the manufactured housing unit is real property, (4) there are no personal property liens against the manufactured housing unit, and (6) the lien of the insured mortgage can be foreclosed in a single foreclosure procedure against the manufactured housing unit and (remaining) land. The charge for this endorsement shall be $25.

30 Page 30 0 ALTA 7.2 and Manufactured Housing - Conversion; Owners This endorsement is issued with an Owner s Policy and insured that (unless excepted in Schedule B): (1) the owner of the land owns the manufactured housing unit, (2) the manufactured housing unit is on the land, (3) the manufactured housing unit is real property, and (4) there are no personal property liens against the manufactured housing unit. The charge for this endorsement shall be $25. ALTA 8.1 and Environmental Protection Lien The environmental protection lien endorsement is issued in conjunction only with a loan policy and only on one-to-four family residential property. It provides assurances that there are no environmental protection liens filed in the local records or in the federal district court clerk's office that could have priority over the lien of the insured mortgage (unless any such lien is excepted); it also provides assurance that there are no state statutes that could create liens later filed which would have priority over the lien of the insured mortgage except those statutes specifically excepted. The charge for this endorsement shall be $50. ALTA Environmental Protection Lien The environmental protection lien endorsement is issued in conjunction only with a loan policy and only on commercial property. It provides assurances that there are no environmental protection liens filed in the local records or in the federal district court clerk's office that could have priority over the lien of the insured mortgage (unless any such lien is excepted); it also provides assurance that there are no state statutes that could create liens later filed which would have priority over the lien of the insured mortgage except those statutes specifically excepted. The charge for this endorsement shall be $50. ALTA 9 and 9-06 Restrictions, Encroachments, Minerals This comprehensive endorsement is issued in conjunction with a loan policy and provides coverage regarding violations of covenants, conditions, and restrictions. [Original filed, not replaced by Rev. 10/17/98 filing on June 28, 1999] The charge for this endorsement shall be $25.

31 Page 31 0 ALTA 9.1 and Restrictions, Encroachments, Minerals This endorsement to the Owner s policy insures against violations of restrictions, encroachments on the land from adjoining land, and damage by reason of mineral development. It is similar to other owner s comprehensive endorsements. It is issued on unimproved land. The charge for this endorsement shall be $40 for residential land and 20% of the basic schedule of charges for commercial land. ALTA 9.2 and Restrictions, Encroachments, Minerals This endorsement to the Owner s policy insures against violations of restrictions, encroachments over easements, building lines and property lines, and damage by reason of mineral development. It is similar to other owner s comprehensive endorsements. It is issued on improved land. The charge for this endorsement shall be $40 for residential land and 20% of the basic schedule of charges for commercial land. ALTA 9.3 and Restrictions, Encroachments, Minerals This comprehensive endorsement is issued in conjunction with a loan policy and provides coverage regarding violations of covenants, conditions, and restrictions. The charge for this endorsement is $25. ALTA 9.4 and Restriction, Encroachments and Mineral Endorsement - Owner s Policy - Unimproved Land This comprehensive endorsement is issued in conjunction with a loan policy and provides coverage regarding violations of covenants, conditions, and restrictions. The charge for this endorsement shall be $40 for residential land and 20% of the basic schedule of charges for commercial land. ALTA 9.5 and Restrictions, Encroachments, Minerals - Owner s Policy - Improved Land This comprehensive endorsement is issued in conjunction with a loan policy and provides coverage regarding violations of covenants, conditions, and restrictions.

32 Page 32 0 The charge for this endorsement shall be $40 for residential land and 20% of the basic schedule of charges for commercial land. ALTA 10 and Assignment Endorsement Form This endorsement is issued on a loan policy in conjunction with an assignment of mortgage. It insures the validity of the assignment and insures that no full or partial release has been recorded in the public records. The charge for this endorsement shall be $ ALTA 10.1 and Assignment and Date Down Endorsement Form This Endorsement is issued on a loan policy in conjunction with an assignment of mortgage. It insures (1) the validity of assignment, (2) that no full or partial release has been recorded in the public records, (3) that taxes and assessments are not due and payable, (4) that the lien of the insured mortgage continues to have priority as insured in the policy, and (5) that no notices of federal tax liens or pending bankruptcy proceedings affecting the title have been recorded. The charge for this endorsement shall be $ ALTA Mortgage Modification Endorsement Form This endorsement provides a lender with protections against the invalidity, unenforceability and lack of priority of the insured mortgage because of a recorded modification agreement. The charge for this endorsement shall be 10% of the basic schedule of charges with a minimum of $ ALTA Mortgage Modification Endorsement Form This endorsement provides a lender with protections against the invalidity, unenforceability and lack of priority of the insured mortgage because of a recorded modification agreement. The charge for this endorsement shall be 10% of the basic schedule of charges with a minimum of $25.00.

33 Page 33 0 ALTA Aggregation Endorsement Form This endorsement is issued on a loan policy and provides that the amount of insurance is the aggregate of the amount of insurance under the loan policy and the amounts of insurance under certain other identified loan policies and sets forth an aggregate amount that may not be exceeded. The charge for this endorsement shall be $50. ALTA 13 and Leasehold Owners Policy Endorsement This form adds language that ordinarily would appear in a leasehold owner s policy conditions and stipulations section. It is used with an ALTA Owners Policy form. There is no charge for the use of this form. ALTA 13.1 and Leasehold Loan Policy Endorsement This form adds language that ordinarily would appear in a leasehold loan policy conditions and stipulations section. It is used with an ALTA Lenders Policy form. There is no charge for the use of this form. ALTA 14 and Future Advance - Priority Mortgages sometimes secure accounts owing or to become owing to a lender where thee will be frequent monetary advances and frequent repayments. This Endorsement is designed for insurance of priority of advances, regardless of whether the lender knows of the intervening liens and other matters. This Endorsement does not except to subsequent matters known by the insured at the time of advance. The endorsement may be issued on commercial or residential transactions. This Endorsement insured against (1) invalidity or unenforceability of the insured mortgage as security for Advances; (2) lack of priority of the lien of the insured mortgage as security for Advances; and (3) invalidity or unenforceability of the mortgage because of Re-Advances and repayments, lack of outstanding debt before an Advance, and failure to comply with legal requirements for Advances; (4) invalidity or unenforceability of the insured mortgage because of adjustment of interest or addition of interest to principal, and (5) loss of priority of the insured mortgage caused by adjustment of interest rates and addition of interest to principal.

34 Page 34 0 Charge $20, plus the applicable increased liability taken from the basic schedule of charges from the previous amount of insurance. ALTA 14.1 and Future Advance - Knowledge (ALTA 14.1 is same as CLTA ) This endorsement is similar to the ALTA 14 [10/22/03] endorsement however it is designed for mortgages securing optional advances in those jurisdictions in which optional advances do not have priority if the insured has knowledge of the intervening matter. Unlike the ALTA 14 endorsement, this endorsement contains an exclusion for lack of priority of any advance made after the insured has knowledge of a lien, encumbrance or other matter affecting the land. The endorsement may be issued on commercial or residential transactions. This Endorsement insures against (1) invalidity or unenforceability of the insured mortgage as security for Advances; (2) lack of priority of the lien of the insured mortgage as security for Advances; and (3) invalidity or unenforceability of the mortgage because of Re-Advances and repayments, lack of outstanding debt before an Advance, and failure to comply with legal requirements for Advances; (4) invalidity or unenforceability of the insured mortgage because of adjustment of interest or addition of interest to principal, and (5) loss of priority of the insured mortgage caused by adjustment of interest rates and addition of interest to principal. Charge $20, plus the applicable increased liability taken from the basic schedule of charges from the previous amount of insurance. ALTA 14.2 and Future Advance - Letter of Credit This endorsement is designed for insurance of a mortgage securing a letter of credit or other surety or reimbursement agreement. Unlike the ALTA 14 [10/22/03] and ALTA 14.1 [10/22/03] endorsement, the ALTA 14.2 [10/22/03] endorsement does not insure with respect to interest rate adjustments. Unlike the ALTA 14 [10/22/03] and ALTA 14.1 [10/22/03] endorsement, this endorsement does not exclude advances made after a bankruptcy, consumer credit protection or truth-in-lending laws. It may be issued only on commercial transactions. This Endorsement insured against (1) invalidity or unenforceability of the insured mortgage as security for Advances; (2) lack of priority of the lien of the insured mortgage as security for Advances; and (3) invalidity or unenforceability of the mortgage because of Re-Advances and repayments, lack of outstanding debt before an Advance, and failure to comply with legal requirements for Advances. Charge $20, plus the applicable increased liability taken from the basic schedule of charges from the previous amount of insurance.

35 Page 35 0 ALTA 14.3 and Future Advance Reverse Mortgage This endorsement insured the validity, enforceability and priority of the lien of the insured Mortgage for future advances pursuant to a reverse mortgage. It also includes insurance as to variable interest and negative amortization. Unlike most reverse mortgage endorsements, this endorsement also insured against loss because of (1) failure of the insured mortgage to state the term of the advances, (2) failure of the insured mortgage to state the maximum amount secured by the insured mortgage, and (3) failure of the mortgagors to be at least 62 years of age (a HUD requirement). Charge $20, plus the applicable increased liability taken from the basic schedule of charges from the previous amount of insurance. ALTA 15 and Nonimputation - Full Equity Transfer This endorsement is designed to be issued with a policy insuring the record title holder, where the investors are acquiring ownership of that record title holder. The endorsement contemplates acquisition of the full interest in the insured under the policy. The endorsement is designed for issuance with an Owner s Policy showing the titleholder as the insured, since it relates to action, inaction or knowledge as of Date of Policy. The endorsement limits applicability under paragraph 3(a), 3(b) and 3(c) of the Exclusion from Coverage section of the policy by reason of the action or inaction or knowledge of the named parties, all as more fully set forth in the Non-Imputation endorsement. Charge $20, plus the applicable increased liability taken from the basic schedule of charges from the previous amount of insurance. ALTA 15.1 and Nonimputation - Additional Insured This endorsement is particularly designed to be issued after the Date of Policy and to show the new investor as an additional insured. This endorsement contemplates acquisition of an interest in the insured under the policy and adds an additional insured (new investor) by the endorsement. This endorsement contemplates that the additional insured wil not acquire 100% of the record title holder. The endorsement is designed for issuance with an Owner s policy. Like the ALTA endorsement, the endorsement limits applicability under paragraph 3(a), 3(b) and 3(c) of the Exclusion from Coverage section of the policy by reason of the action or inaction or knowledge of the named parties, all as more fully set forth in the Non-Imputation endorsement. Charge $20, plus the applicable increased liability taken from the basic schedule of charges from the previous amount of insurance.

36 Page 36 0 ALTA 15.2 and Nonimputation - Partial Equity Transfer This endorsement is designed to be issued in connection with a separate title policy to the new investor in the record title holder. The endorsement contemplates acquisition of an interest in the existing (partnership, limited liability company or corporation) owner and names the incoming (new investor) member, partner or shareholder in its own policy. The endorsement is designed for issuance with a new Owner policy. Like the ALTA and , the endorsement limits applicability under paragraph 3(a), 3(b) and 3(c) of the Exclusion from Coverage section of the policy by reason of the action or inaction or knowledge of the named parties, all as more fully set forth in the Non-Imputation endorsement. Charge $20, plus the applicable increased liability taken from the basic schedule of charges from the previous amount of insurance. ALTA 16 and Mezzanine Financing If a lender makes a loan to an owner (direct or indirect) of an equity interest in the mortgagor/record title holder, the lender will commonly request a Mezzanine Endorsement to the Owner s Policy. The Mezzanine Lender does not secure a mortgage on the land, or a Loan Policy, but does secure title insurance by a Mezzanine Endorsement to the Owner s Policy. The Mezzanine Endorsement makes the Mezzanine Lender an assignee of payments under the Owner s Policy not to exceed the debt owed to the Mezzanine Lender. The endorsement does not name the Mezzanine Lender as an additional insured by paragraph two of the endorsement. The endorsement may be issued simultaneously with or after the Date of the Owner Policy. The charge for this endorsement shall be 10% of the basic schedule of charges. ALTA 17 and Access and Entry This endorsement when attached to an Owner s or Lender s Policy insured specific access to and from a physically open street or streets. This endorsement specifically refers to the street providing actual access, and insured the legal right of access along existing curb cuts or entries. The endorsement insures: (1) that the land abuts a named Street, (2) that the Street is physically open and publicly maintained, (3) that the land has actual pedestrian and vehicular access, and (4) that the insured has a right to use existing curb cuts along the abutting Street. The charge for this endorsement shall be 10% of the basic schedule of charges.

37 Page 37 0 ALTA 17.1 and Indirect Access and Entry This endorsement when attached to an Owner s or Lender s Policy insures access via an easement, to a physically open street or streets. The Endorsement insures: (1) that the insured easement provides access to a named Street, (2) that the Street is physically open and publicly maintained, (3) that the easement provides actual pedestrian and vehicular access, and (4) that the insured has a right to use existing curb cuts along the Street abutting the easement. The charge for this endorsement shall be 10% of the basic schedule of charges. ALTA Utility Access This endorsement insures against loss if there is a lack of a right of access to specific utilities or services over, under or upon rights-of-way or easements because of: (1) a gap or gore between the boundaries of the Land and the rightsof-way or easements, (2) a gap between the boundaries of the rights-of-way of easements, or (3) a termination by a grantor, or its successor, of the rights-ofway or easements. The charge for this endorsement is $ ALTA 18 and Single Tax Parcel This endorsement when attached to an owner s or Lender s Policy insures that the land (consisting of one parcel) is taxed as a separate tax parcel. It insures against loss if the land is taxed as part of a larger parcel or fails to constitute a separate tax parcel. The charge for this endorsement shall be $50 for residential lands and $100 for commercial lands. ALTA 18.1 and Multiple Tax Parcel This endorsement when attached to an Owner s or Lender s Policy insures against loss if (1) the parcels are not assessed for real estate tax purposes as the Tax Identification Numbers, (2) the parcels are taxed with any other land, or (3) the easements, if any, described in Schedule A can be cut off by non-payment of real estate taxes or assessments against the servient estate. This endorsement is issued if the land consists only of multiple tax parcels. The charge for this endorsement shall be $50 for residential lands and $100 for commercial lands.

38 Page 38 0 ALTA 19 and Contiguity - Multiple Parcels (ALTA 19 same as CLTA ) This endorsement when attached to an Owner s Lender s Policy insures that two or more insured parcels are contiguous along defined lines or boundaries. The endorsement also insures (to the same effect) that there are not gaps separating the insured contiguous boundary lines. The endorsement is issued where the contiguous tracts are insured by the policy. The charge for this endorsement shall be $50 for residential lands and $100 for commercial lands. ALTA 19.1 and Contig uity - Single Parcel (ALTA 19.1 is same as CLTA 116.4) This endorsement provides that the various parcels that constitute the land physically touch each other as identified and are contiguous. The charge for this endorsement shall be $50 for residential lands and $100 for commercial lands. ALTA 20 and First Loss, Multiple Parcel Transactions Endorsement This endorsement is designed to be issued in situations where either a lender or an owner wants the title insurer to insure against loss if the title or lien of the insured mortgage, as insured, is held by a bankruptcy court to be invalid simply because reasonable equivalent value was not paid for the interest created in the insured transaction or the lien of the insured mortgage is ruled to be preferential. The endorsement does not simply delete the creditor s rights exclusion, but instead insures against avoidance or a court order providing another remedy based on voidability of the conveyance or mortgage because of a fraudulent transfer or preference. The endorsement does not insure against a claim that the mortgage should be equitably subordinate. It does not insure against loss if the insured knew that the transfer or mortgage was intended to hinder, delay or defraud a creditor or if the insured is found not to be a transfer in good faith. The charge for this endorsement shall be $25 for residential and $100 for commercial. ALTA 22 and Location This endorsement insures that a specified improvement, known as a stated street address, is located on the land at date of policy. The charge for this endorsement is $25 for policies of $1,000,000 or less. There is no charge for policies over $1,000,000.

39 Page 39 0 ALTA 22.1 and Location and Map This endorsement insures that a specified improvement, known as a stated street address, is located on the land at date of policy and also insures that the map, if any, attached to the policy correctly shows the location and dimensions of the land according to public records. The charge for this endorsement is $25 for policies of $1,000,000 or less. There is no charge for policies over $1,000,000. ALTA Co-Insurance Single Policy This endorsement identifies other insurers in the policy and allocates liability among the insurers. There is no charge for this endorsement. ALTA Doing Business This endorsement insures against unenforceability of the lien of the insured mortgage because making the loan violated doing business laws of the state in which the land is located. The charge for this endorsement is $ ALTA Same as Survey This endorsement insures that the description of the land shown in Schedule A of the policy is the same as the land shown on the mentioned survey. The charge for this endorsement is $ ALTA Same As Portion of Survey This endorsement insures that the description of the land shown in Schedule A of the policy is the same as the land shown as a defined parcel on the mentioned survey. The charge for this endorsement is $50.00.