STG Example Policy (Leasehold Estates) 7 - Insuring a Subleasehold Estate

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STG Example Policy (Leasehold Estates) 7 - Insuring a Subleasehold Estate

Form Document
06/06/2008
V 1

INSURING A SUBLEASEHOLD ESTATE

Order No. To be filled out.

Policy No.: To be filled out.

Date of Policy: Month-Day-Year-Hour

Amount of Insurance: $100,000.00

1. Name of Insured: Snoopy Brown

2. The estate or interest in the land which is covered by this policy is the leasehold estate, as leasehold estate is defined in section 1(h) of the Conditions and Stipulations of this policy, created by the instrument herein referred to as the Lease which is identified as follows:

Subleasehold estate created by the sublease executed by Peppermint Patti, sublessor, to Snoopy Brown, sublessee, dated October 1, 1988, recorded October 3, 1988, at 8:29 a.m., in Book XX, Page YY.

3. The subleasehold term insured is: Five years, beginning October 1, 1988 and ending October 1, 1993.

4. Title to the estate or interest in the land is vested in: Snoopy Brown

5. The land referred to in this policy is described as follows:

LOT 1, BLOCK 1, ROYAL ACRES, a subdivision of land in Peanutsville City, Schultz County, State of Comics, according to the recorded plat thereof.

SCHEDULE B

Policy No.

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:

General Exceptions:

1. Rights or claims of parties in possession not shown by the public records.

2. Encroachments, overlaps, boundary line disputes, and any other matters which would be disclosed by an accurate survey and inspection of the premises.

3. Easements or claims of easements not shown by the public records.

4. Any lien, or right to a lien, for services, labor, or material heretofore or hereafter furnished, imposed by law and not shown by the public records.

5. Taxes or special assessments which are not shown as existing liens by the public records.

Special Exceptions:

6. Special Exceptions Affecting The Fee Simple

______________________________

______________________________

______________________________

7. Special Exceptions Affecting The Subleasehold Estate

______________________________

______________________________

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8. Terms and provisions of the lease executed by Charlie Brown, as lessor, to Peppermint Patti, lessee, dated October 31, 1987, recorded November 1, 1987 in Book XX, Page YY.

9. Mortgage dated October 1, 1988, recorded October 3, 1988 at 8:30 a.m., in Book XX, Page YY, executed by Snoopy Brown to ABC Corporation, stating that it secures the sum of $80,000.00.

Copyright 1970-2024 Stewart Title Guaranty Company. All rights reserved. The use of this form (or any derivative thereof) is restricted to Stewart Title Guaranty Company, its issuing agents, and affiliates in good standing as of the date of use. All other uses are prohibited.

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