Commonwealth Land Title Insurance Company, NCS

ALTA ENDORSEMENTS - 46 - SAMPLES AND DESCRIPTIONS RESTRICTIONS, ENCROACHMENTS, MINERALS – LOAN – FORM 9-06 ALTA Endorsement — Form 9-06 is available for a loan policy only. The ALTA 9 retains most of the features of the 2006 version, except the old Section 1(b)(ii), that was litigated in Nationwide Life Ins. Co. v. FIDELITY NATIONAL Title Ins. Co., 2005 WL 2716492, (E.D. Pa. Oct. 19, 2005), is now moved from this endorsement to the ALTA 9.6-06 (See below). The revised form added two definitions. The first defines “Covenant” as “a covenant, condition, limitation or restriction in a document or instrument in effect at Date of Policy.” The term is in the singular instead of the old “covenants, conditions, and restrictions” to avoid any interpretation that a failure to except to any one triggers liability for all. The ALTA 9 also defined “Improvement” as “an improvement, including any lawn, shrubbery, or trees, affixed to either the Land or adjoining land at Date of Policy that by law constitutes real property.” This definition does not appear in the other revised ALTA 9 endorsements because the encroachments and minerals coverages were dropped from them. Section 5 of Form 9-06 excepts Covenants in a lease, Covenants creating obligations to maintain, repair or remediate the Land, and Covenants “ relating to environmental protection of any kind or nature, including hazardous or toxic matters, conditions, or substances.” It also excepts "contamination, explosion, fire, flooding, vibration, fracturing, earthquake or subsidence" or "negligence by a person or an Entity exercising a right to extract or develop minerals or other subsurface substances." ALTA Endorsement — Form 9-06 (Restrictions, Encroachments, Minerals – Loan Policy – 4/2/12) Form 9-06 Restrictions, Encroachments, Minerals – Loan Policy