The ALTA Street Assessment Endorsement can be helpful when underwriting title insurance. In this article, we present an example template of the ALTA Street Assessment Endorsement to be used in a title policy.
STREET ASSESSMENT ENDORSEMENT (ALTA 1-06) (Adopted 6/17/2006)
The Company insures against loss or damage sustained by the Insured by reason of the lack of priority of the lien of the Insured Mortgage over the lien of any assessments for street improvements under construction or completed at Date of Policy.
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.
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