Chicago Title Insurance Company, NCS

- 120 - ALTA ENDORSEMENTS SAMPLES AND DESCRIPTIONS NON-IMPUTATION – ALTA 15 SERIES The ALTA 15 Series is available for owner’s policies only. These endorsements are designed to provide protection from matters that would otherwise be excluded from coverage on the basis of imputed knowledge, or the imputation of the consequences of action or inaction. The ALTA form gives coverage not only over matters known to specified parties, but also over the consequences of the actions or inactions of those parties. Exclusions from Coverage 3(a) and (b) in the ALTA Owner’s Policy and ALTA Loan Policy exclude from coverage matters created, suffered assumed or agreed to by the Insured or known to the Insured, but not to the Company, and not disclosed by the public records. By this endorsement, the Company agrees not to assert these Exclusions as a defense to coverage for matters that would be legally binding on an insured partnership, corporation, limited liability company or other business entity, through the law of imputed knowledge. The endorsement is usually requested in situations where no deed will be recorded. The form clarifies that the Company will not raise as a defense the failure to utilize the protections of recording acts, which is the purpose of Exclusion 3(e). Note: Issuance of this coverage is dependent on additional documentation, such as financial statements and guarantees or indemnities from other parties (including, but not limited to, the “specified parties” cited in the endorsement). NON-IMPUTATION – FULL EQUITY TRANSFER – FORM 15-06 ALTA Endorsement — Form 15-06 is to be used when the entire beneficial interest of the entity holding title and named as the Insured on Schedule A (e.g. partnership interest, corporate stock, membership interest of limited liability company) has been transferred for value. The incoming beneficial owner is identified on the endorsement. NON-IMPUTATION – ADDITIONAL INSURED – FORM 15.1-06 ALTA Endorsement — Form 15.1-06 is to be used when the incoming owner of a portion of the beneficial interest of the entity holding title requests to be named as an Additional Insured under the policy, and that interest (e.g. partnership interest, corporate stock, membership interest in limited liability company) has been transferred for value. This endorsement is signed by both the title company and the Insured. NON-IMPUTATION – PARTIAL EQUITY TRANSFER – FORM 15.2-06 ALTA Endorsement — Form 15.2-06 is to be used when only a portion of the beneficial interest of the entity holding title and named as the Insured on Schedule A has been transferred. ALTA Endorsement — Form 15-06, 15.1-06 & 15.2-06 (Non-Imputation – Full Equity Transfer – 6/17/06), (Non-Imputation – Additional Insured – 6/17/06) & (Non-Imputation – Partial Equity Transfer – 6/17/06) Form 15-06 NON-IMPUTATION – Full Equity Transfer