Commonwealth Land Title Insurance Company, NCS

ALTA ENDORSEMENTS - 20 - SAMPLES AND DESCRIPTIONS CONDOMINIUM – ASSESSMENTS PRIORITY – FORM 4 ALTA Endorsement — Form 4 is available only for loan policies. It provides insurance to a mortgage lender whose loan is secured by a condominium unit. This endorsement details seven matters over which insurance is being provided including priority of the Insured Mortgage over future assessments. Some of the matters would be covered by the standard loan policy without any endorsement. Nevertheless, the endorsement states each such coverage affirmatively. This endorsement may be issued only after the relevant aspects of the condominium project in which the unit is located have been reviewed. Of particular import is the necessity of obtaining satisfactory evidence that there are no unpaid liens for any condominium charges or assessments and that any right of first refusal which could have been exercised at date of policy has been duly waived. If, after reviewing the relevant documentation it is determined that one or more of the coverages may not be provided, it may be possible in some jurisdictions to issue a modified version of this endorsement which deletes those unavailable coverages. ALTA Endorsement — Form 4 (Condominium – Assessments Priority – 07/01/21) Form 4 Condominium – Assessments Priority