PA 1314 ALTA 28.3-06 Encrhmnts - Boundaries and Esmts - Land Under Dvlp 10-1-17

TIRBOP - PA ENDORSEMENT 1314 (ALTA 28.3-06 ENCROACHMENTS-BOUNDARIES AND EASEMENTS - LAND UNDER DEVELOPMENT)

ATTACHED TO POLICY NUMBER ______________________

ISSUED BY

STEWART TITLE GUARANTY COMPANY

1.             The insurance provided by this endorsement is subject to the exceptions in Section 4 of this endorsement; and the Exclusions from Coverage, the Exceptions from Coverage contained in Schedule B, and the Conditions in the policy.

2.             For purposes of this endorsement only:

(a)        “Improvement” means a building, structure, or paved area, including any road, walkway, parking area, driveway, or curb located on the surface of the Land or the surface of adjoining land at Date of Policy that by law constitutes real property.

(b)        “Future Improvement” means any of the following to be constructed on the Land after Date of Policy in the locations according to the Plans and that by law constitutes real property:

(i)         a building;

(ii)         a structure; or

(iii)        a paved area, including any road, walkway, parking area, driveway, or curb.

(c)        “Plans” mean the survey, site and elevation plans, or other depictions or drawings prepared by_______________ date_______________________, last revised_____________________, designated as ________________________________ consisting of _________________________________sheets.

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

(a)           An encroachment of any Improvement or Future Improvement located on the Land onto adjoining land or onto that portion of the Land subject to an easement, unless an Exception in Schedule B of the policy identifies the encroachment;

(b)           An encroachment of any Improvement located on adjoining land onto the Land at Date of Policy, unless an Exception in Schedule B of the policy identifies the encroachment;

(c)           Enforced removal of any Improvement or Future Improvement located on the Land as a result of an encroachment by the Improvement or Future Improvement onto any portion of the Land subject to any easement, in the event that the owners of the easement shall, for the purpose of exercising the right of use or maintenance of the easement, compel removal or relocation of the encroaching Improvement or Future Improvement; or

(d)           Enforced removal of any Improvement or Future Improvement located on the Land that encroaches onto adjoining land.

4.         Sections 3(c) and 3(d) of this endorsement do not insure against loss or damage (and the Company will not pay costs, attorneys’ fees, or expenses) resulting from the following Exceptions, if any, listed in Schedule B: _______

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.