Commonwealth Land Title Insurance Company, NCS

ALTA ENDORSEMENTS - 90 - SAMPLES AND DESCRIPTIONS AGGREGATION – FORM 12 ALTA Endorsement — Form 12 is available only for loan policies. It has also been called the Tie-In Endorsement. Frequently, mortgages that affect parcels in different counties or parishes are recorded for the full amount of the mortgage. Instead of combining all of the parcels into one loan policy, the aggregation endorsement allows the title insurer to issue several policies for lesser amounts and then tie the policies together so that the Insured can take advantage of any increases in the value of a particular parcel should there be a loss. This endorsement changes the provisions of Condition 8 (a)(i) of the 2006 Loan Policy so that the amount of insurance available to cover a loss is the aggregate of the amount of insurance available under the policy to which this endorsement is attached plus the amounts of insurance available under the policies identified in this endorsement. The following conditions apply to the aggregation endorsement: • It may be approved only when the same form of loan policy is being issued; • The loan amount must be secured by mortgages on two or more parcels; • Each Insured Mortgage must state that it secures the entire indebtedness; • Each policy will be issued with the amount of insurance shown on Schedule A of the policy being equal to the amount that the Insured allocates to the property described in Schedule A (rather than the total aggregate amount shown on the endorsement). Policies of other companies (including sister companies of the title insurer) cannot be tied in with policies issued by one particular company. ALTA Endorsement — Form 12 (Aggregation – 07/01/2021) Form 12 Aggregation