Commonwealth Land Title Insurance Company, NCS

ALTA ENDORSEMENTS - 264 - SAMPLES AND DESCRIPTIONS TAX CREDIT – OWNER’S POLICY – FORM 40-06 The ALTA Form 40-06 endorsement runs to the benefit of the individual tax credit investors. The ability to gain tax benefits by investing in certain types of real estate projects encourages that type of private money for projects that may have public purposes. It is not limited to a specific type of tax credit, i.e., it can be used for any tax credit benefit for which an investor might qualify under the Internal Revenue Code or any other state or local tax law. The endorsement provides that the policy coverage runs to the investor, therefore the Insured must consent to an assignment of proceeds under the policy. The endorsement covers a loss which arises solely as a result of the loss of the credit based upon the normal policy coverages. The party insured under the endorsements must prove the existence of the loss and the amount of the loss as a result of the title defect. ALTA Endorsement — Form 40-06 (Tax Credit – Owner’s Policy – 4/2/14) Form 40-06 Tax Credit – Owner’s