ENDORSEMENT ATTACHED TO AND MADE A PART OF MORTGAGEE'S POLICY OF TITLE INSURANCE SERIAL NUMBER ISSUED BY
_____________________ TITLE INSURANCE COMPANY HEREIN CALLED THE COMPANY
File No.________________
Attached to and made a part of _______________________________________________________ Title Insurance Company Mortgagee Policy Number _______________________, dated the ______________ day of ____________________, 20____.
1. As used in this endorsement, the following terms shall mean:
a. "Evicted" or "Eviction": (a) the lawful deprivation, in whole or in part, of the right of possession insured by this policy, contrary to the terms of the Lease or (b) the lawful prevention of the use of the land or the Tenant Leasehold Improvements for the purposes permitted by the Lease, in either case, as a result of a matter covered by this policy.
b. "Lease": the lease agreement described in Schedule A.
c. "Leasehold Estate": the right of possession for the Lease Term.
d. "Lease Term": the duration of the Leasehold Estate, including any renewal or extended term if a valid option to renew or extend is contained in the Lease.
e. "Personal Property": chattels located on the land and property which, because of their character and manner of affixation to the land, can be severed from the land without causing appreciable damage to themselves or to the land to which they are affixed.
f. "Remaining Lease Term": the portion of the Lease Term remaining after the insured has been Evicted as a result of a matter covered by this policy.
g. "Tenant": the tenant under the Lease and, after acquisition of all or any part of the estate or interest in the land described in Schedule A in accordance with the provisions of Section 2(a) of the Conditions and Stipulations of this policy, the insured claimant.
h. "Tenant Leasehold Improvements": Those improvements, including landscaping, required or permitted to be built on the land by the Lease that have been built at the insured's expense or in which the insured has an interest greater than the right to possession during the Lease Term.
2. Valuation of Estate or Interest Insured
If, in computing loss or damage, it becomes necessary to value the estates or interests insured by this policy as the result of a covered matter that results in an Eviction of the Tenant, then that value shall consist of the value for the Remaining Lease Term of the Leasehold Estate and any Tenant Leasehold Improvements existing on the date of the Eviction. The insured claimant shall have the right to have the Leasehold Estate and the Tenant Leasehold Improvements valued either as a whole or separately. In either event, this determination of value shall take into account rent no longer required to be paid for the Remaining Lease Term.
3. Additional items of loss covered by this endorsement:
If the insured acquires all or any part of the estate or interest in the land described in Schedule A in accordance with the provisions of Section 2(a) of the Conditions and Stipulations of this policy and thereafter is Evicted, the following items of loss, if applicable, shall be included in computing loss or damage incurred by the insured, but not to the extent that the same are included in the valuation of the estates or interests insured by this policy.
a. The reasonable cost of removing and relocating any Personal Property that the insured has the right to remove and relocate, situated on the land at the time of Eviction, the cost of transportation of that Personal Property for the initial one hundred miles incurred in connection with the relocation, and the reasonable cost of repairing the Personal Property damaged by reason of the removal and relocation.
b. Rent or damages for use and occupancy of the land prior to the Eviction which the insured as owner of the Leasehold Estate may be obligated to pay to any person having paramount title to that of the lessor in the Lease.
c. The amount of rent that, by the terms of the Lease, the insured must continue to pay to the lessor after Eviction with respect to the portion of the Leasehold Estate and Tenant Leasehold Improvements from which the insured has been Evicted.
d. The fair market value, at the time of the Eviction, of the estate or interest of the insured in any lease or sublease made by the Tenant as lessor of all or part of the Leasehold Estate or the Tenant Leasehold Improvements.
e. Damages that the insured is obligated to pay to lessees or sublessees on account of the breach of any lease or sublease made by the Tenant as lessor of all or part of the Leasehold Estate or the Tenant Leasehold Improvements caused by the Eviction.
f. Reasonable costs incurred by the insured to secure a replacement leasehold equivalent to the Leasehold Estate.
g. If Tenant Leasehold Improvements are not substantially completed at the time of Eviction, the actual cost incurred by the insured, less the salvage value, for the Tenant Leasehold Improvements up to the time of Eviction. Those costs include costs incurred to obtain land use, zoning, building and occupancy permits, architectural and engineering fees, construction management fees, costs of environmental testing and reviews, and landscaping costs.
This endorsement is made a part of the policy and is subject to all of the terms and provisions thereof and of any prior endorsements thereto. Except to the extent expressly stated, it neither modifies any of the terms and provisions of the policy and any prior endorsements, nor does it extend the effective date of the policy and any prior endorsements, nor does it increase the face amount thereof.
[Witness clause optional]
BLANK TITLE INSURANCE COMPANY
By: _____________________________________
Form T-5: Leasehold Mortgagee Policy Endorsement (Go to Rule R-4; Rule P-9.b.5)
OWNER TITLE POLICY COMMITMENT TO THE TEXAS DEPARTMENT OF TRANSPORTATION
__________________________________
Date
G.F. # _________________________
Proposed Title Policy to STATE OF TEXAS PARCEL NO. ______________________
PROJECT NO. _____________________
This commitment is in connection with an order placed with us for an Owner Title Policy on the real estate described on the reverse side hereof.
We will issue and deliver to you our Owner Title Policy, on the described property, in the form prescribed by the Texas Department of Insurance, upon delivery to us of the deed executed by the proper parties, acceptable for filing, upon your issuance and delivery to us of your warrant in the amount of
__________________________________ ($______________________________) payable to the undersigned and __________________________ and upon the negotiation of said warrant.
The Owner Title Policy will be free of all defects, liens and encumbrances; subject only, to the following:
Following liens: None
1.
2.
Restrictive covenants affecting the property herein described.
3.
Any discrepancies, conflicts, shortages in area or boundary lines, or any encroachments, or protrusions, or any overlapping of improvements.
4.
Easements:
a.
5.
Leases and/or mineral requirements:
a.
Oil, gas and sulphur as provided for in deed.
6.
Standby fees, taxes and assessments by any taxing authority for the current year.
This commitment shall be used only in connection with the issuance of the above mentioned Owner Title Policy.
_____________________ TITLE INSURANCE COMPANY
By _______________________________________________
Authorized Officer or Agent
[Property Description on Reverse Side]
(Form T-20: Owner Title Policy Commitment to Texas Department of Transportation)
This Commitment is in connection with an order placed with us for an Owner Title Policy on the real estate described on the reverse side hereof.
We will issue and deliver to you our Owner Title Policy, in the amount of the final judgment, on such property, in the form prescribed by the Texas Department of Insurance, upon entry in favor of ___________________ in the eminent domain proceedings now pending as Cause No.______________in the Court ______________of ________________County, Texas, of a judgment which is final and not subject to appeal or review, and the filing of a certified copy of such judgment in the Deed Records of the County in which such land is situated, and payment of the full amount of the final judgment. This Owner Title Policy will contain only the following exceptions:
2.
All of the oil, gas and sulphur in and under the above described land.
All oil, gas, sulphur and other mineral interests, including but not limited to leasehold and royalty interests, in the above described land.
All standby fees, taxes, and assessments by any taxing authority, current and delinquent.
1.
Liens:
Restrictive covenants affecting the property above described.
3.
Any discrepancies, conflicts, or shortages in area or boundary lines, or any encroachments or any overlapping of improvements which a current survey would show.
4.
Terms and provisions of said judgment.
5.
The following easements held by those not made a party to eminent domain proceedings:
6.
Leasehold and other mineral interests:
a.
* b.
** 7.
a.
Standby fees, taxes and assessments by any taxing authority for the current year.
b.
This commitment shall be used only in connection with the issuance of the above mentioned Owner Title Policy.
___________________________ TITLE INSURANCE COMPANY
By ___________________________________________________
Authorized Officer or Agent
* Subparagraph 6b is to be stricken and must be initialed if (1) condemnation is not a partial taking, and (2) all owners of all mineral, royalty and leasehold interests are parties to and bound by the judgment.
** If a partial taking, and all tax collectors are not parties to the condemnation suit, subparagraph 7a is to be stricken and must be initialed. If not a partial taking, and all tax collectors are parties to the condemnation, subparagraph 7b is to be stricken and must be initialed.
(Form T-22: Owner Title Policy Commitment for Eminent Domain Proceedings)
To (_______________________________________________and) United States of America:
The _____________________, a Corporation organized and existing under the laws of the State of _________________, with its principal office in the City of _____________ hereby certifies that it has made a thorough search of the title to the property described in SCHEDULE "A" hereof, beginning with the ___________day of _______, 20_____, and that the title to said property was indefeasibly vested in fee simple of record in ____________________________as of the _______day of _____________, 20____, free and clear of all encumbrances, defects, interests and all other matters whatsoever, either of record or otherwise known to the corporation, impairing or adversely affecting the title to said property, except as shown in SCHEDULE "B" hereof.
The maximum liability of the undersigned under this certificate is limited to the sum of ________________. In consideration of the premium paid, this certificate is issued for the use and benefit of (said ___________________and) the United States of America (and each of them).
IN WITNESS WHEREOF, said Corporation has caused these presents to be signed in its name and behalf, sealed with its corporate seal, and delivered by its proper officers thereunto duly authorized, as of the date last above mentioned.
Attest:
___________________________________________ Title of Attesting Officer
Name of Corporation
By ________________________________________ Title of Executing Officer
Name of Title Insurance Company
SCHEDULE "A"
The property covered by this certificate is accurately and fully described as follows:
Name of Title Insurance Company
SCHEDULE "B"
The property described in SCHEDULE "A" hereof is free and clear from all interests, encumbrances and defects of title and all other matters whatsoever of record, or which, though not of record, are known to this Corporation to exist impairing or adversely affecting the title to said property, except the following:
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