The Date Down Endorsement is one of many ALTA endorsements that can be used in title insurance. In this article, we offer an example of the Date Down Endorsement for underwriting title insurance.
DATE DOWN ENDORSEMENT TO LOAN POLICY
- The Date of Policy is extended from _________________ at _________________ to _________________ at _________________ (Date and Time of Recording). NOTE: This Date Down Endorsement does not extend the coverage provided by Endorsement Nos. _ – _ past the original Date of the Policy.
- The following is hereby added to Item No. __ of Schedule A: Amended by Amendment to Mortgage dated _____, filed ___, as Document No. ____.
- Item No. ____ of Schedule B is hereby amended to read as follows: ____) Real estate taxes payable in ____________ of the year 20____ and thereafter. Property Identification No. ________________) Levied or pending assessments of record, if any.
- The following are hereby added to Schedule B as Item Nos. ______________: ____) Any lien, or right to a lien, for services labor or material heretofore or hereafter furnished, imposed by law and not shown by the public records. ____) Subject to the following matters occurring after _________________ at _________________:
- a) Any encroachment, encumbrance, violation, variation or adverse circumstance affecting the Title that would be disclosed by an accurate and complete land survey of the Land; and
- b) Easements or claims of easements not shown by the public records. ____) Defects, liens, encumbrances, adverse claims or other matters, if any created, first appearing in the public records or attaching subsequent to the effective date hereof but prior to the date of recording of the _____________________________ document to be insured herein. NOTE: If any intervening matters occur during the above described time period, this exception will be modified to reflect the specific exception(s). If there are no intervening matters this exception will be deleted from the Final Endorsement.
This endorsement is issued as part of the policy. Except as it expressly states, it does not (i) modify any of the terms and provisions of the policy, (ii) modify any prior endorsements, (iii) extend the Date of Policy, or (iv) increase the Amount of Insurance. To the extent a provision of the policy or a previous endorsement is inconsistent with an express provision of this endorsement, this endorsement controls. Otherwise, this endorsement is subject to all of the terms and provisions of the policy and of any prior endorsements.
Get Help with Your Commercial Real Estate Transaction
To learn more about the wide array of ALTA endorsements available for title insurance policies, request a copy of our free endorsement book. For help with your commercial transaction, don’t hesitate to reach out to the experts at Commercial Partners Title Company. Our team of escrow agents, title closers, and underwriters is well-equipped to help you through all the stages of your next commercial transaction. Contact our team of experts today at our downtown Minneapolis office and get the help you need on your next commercial transaction.