Chicago Title Endorsement Handbook - Chicago, IL

Non-ALTA 2006 • 303 FUTURE ADVANCES NON-OBLIGATORY (l14A) This endorsement replaces the ALTA 14 endorsements and is specific to property located in Illinois. It insures the lender against the invalidity of the lien of the mortgage as security for each future non-obligatory advance made after the date of policy and over many liens or encumbrances on title other than the excluded items described in paragraph 4. It also insures the lender against a lack of priority because of re-advances or repayments of the indebtedness, earlier periods of no indebtedness owing during the term of the mortgage or the insured mortgage not complying with the requirements of Illinois law. It does not insure any advance made 18 months after the date of recording of the insured mortgage. Future Advances Non-Obligatory Endorsement