TX Adjustable Mortgage Loan Endorsement T-33

This form has been replaced by the TX Variable Rate Mortage Endorsement T-33 and is used for informational purposes only

STEWART TITLE GUARANTY COMPANY

ADJUSTABLE MORTGAGE LOAN ENDORSEMENT

Attached to and forming a part of Mortgage Policy No. _________ of STEWART TITLE GUARANTY COMPANY.

As to the policy to which this Endorsement is attached, the Company will not claim that its liability for the payment of any loss or damage, under the terms and provisions of the Policy, has been waived or surrendered by the Insured, or has been reduced by the Company, solely by reason of:

(1) Any provisions of the mortgage or deed of trust described in Schedule __ of the Policy which provide for adjustment of the interest rate.

(2) Loss of priority of the Lien of the insured mortgage or deed of trust as security for the unpaid principal balance of the loan, together with interest as charged in accordance with the provisions of the insured mortgage, which loss of priority is caused by adjustments of the interest rate.

For purposes of Item 2 of this Endorsement, the unpaid principal balance of the loan shall be determined as of the date of any loss or damage, under the terms and provisions of the Policy, and the unpaid principal balance shall include unpaid interest calculated as provided by the terms and conditions of the note secured by the mortgage or deed of trust described in Schedule A of the Policy.

The policy to which this Endorsement is attached does not insure against loss or damage based upon usury or claims of usury, nor any consumer credit protection or truth-in-lending law.

The policy to which this Endorsement is attached does not insure against loss or damage by reason of the failure of the Insured to comply with any applicable law or regulation relating to adjustable loans made by the Insured.

Nothing herein shall be construed as extending or changing the effective date of the Policy or increasing the maximum amount of liability provided in said policy. The issuance of this Endorsement shall not extend the liability hereunder beyond the period of limitation applicable to the indebtedness described in Schedule A calculated from the original maturity date of such indebtedness or a subsequent renewed and extended maturity date, provided that Company shall have no liability created by reason of any invalid renewal and extension agreement of either the indebtedness of the lien nor by reason of the failure to record a renewal and extension agreement of the lien.

This Endorsement shall be effective as of the date of the mortgagee policy to which it is attached.

IN WITNESS WHEREOF, STEWART TITLE GUARANTY COMPANY has caused this Endorsement to be executed by its President under the seal of the Company, but this Endorsement is to be valid only when it bears an authorized countersignature.