PA 501 ALTA 11-06 Mortgage Modification 7-1-14

TIRBOP – PA ENDORSEMENT 501 (ALTA 11-06) MORTGAGE MODIFICATION 
ATTACHED TO POLICY NUMBER ______________________

ISSUED BY

STEWART TITLE GUARANTY COMPANY

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

1.     The invalidity or unenforceability of the lien of the Insured Mortgage upon the Title at Date of Endorsement as a result of the agreement dated ________________________, recorded ________________________ ("Modification"); and

2.     The lack of priority of the lien of the Insured Mortgage, at Date of Endorsement, over defects in or liens or encumbrances on the Title, except for those shown in the policy or any prior endorsement and except: _______________________________

This endorsement does not insure against loss or damage, and the Company will not pay costs, attorneys' fees, or expenses, by reason of any claim that arises out of the transaction creating the Modification by reason of the operation of federal bankruptcy, state insolvency, or similar creditors' rights laws that is based on:

1.     the Modification being deemed a fraudulent conveyance or fraudulent transfer; or

2.     the Modification being deemed a preferential transfer except where the preferential transfer results from the failure

a.      to timely record the instrument of transfer; or

b.      of such recordation to impart notice to a purchaser for value or to a judgment or lien creditor.

IN WITNESS WHEREOF, the Company has caused this endorsement to be issued and become valid when signed by an authorized officer or licensed agent of the Company.

Date of Endorsement:___________________