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First American <br /> Title Insurance Company <br /> ALTA ENDORSEMENT FORM 14-06 <br /> Future Advance—Priority (Revised 2-3-11) <br /> Attached to Policy No. 201500290CAF <br /> This endorsement is made a part of the Policy to which it is attached. <br /> 1. The insurance for Advances added by Sections 2 and 3 of this endorsement is subject to the <br /> exclusions in Section 4 of this endorsement and the Exclusions from Coverage in the Policy, except <br /> Exclusion 3(d), the provisions of the Conditions, and the exceptions contained in Schedule B. <br /> a. "Agreement," as used in this endorsement, shall mean the note or loan agreement,the <br /> repayment of Advances under which is secured by the Insured Mortgage. <br /> b. "Advance," as used in this endorsement, shall mean only an advance of principal made after <br /> the Date of Policy as provided in the Agreement, including expenses of foreclosure, amounts <br /> advanced pursuant to the Insured Mortgage to pay taxes and insurance, assure compliance <br /> with laws, or to protect the lien of the Insured Mortgage before the time of acquisition of the <br /> Title, and reasonable amounts expended to prevent deterioration of improvements, together <br /> with interest on those advances. <br /> c. "Changes in the rate of interest," as used in this endorsement, shall mean only those changes <br /> in the rate of interest calculated pursuant to a formula provided in the Insured Mortgage or the <br /> Agreement at Date of Policy. <br /> 2. The Company insures against loss or damage sustained by the Insured by reason of: <br /> a. The invalidity or unenforceability of the lien of the Insured Mortgage as security for each <br /> Advance. <br /> b. The lack of priority of the lien of the Insured Mortgage as security for each Advance over <br /> any lien or encumbrance on the Title. <br /> c. The invalidity or unenforceability or lack of priority of the lien of the Insured Mortgage as <br /> security for the Indebtedness, Advances and unpaid interest resulting from(i)re-Advances <br /> and repayments of Indebtedness, (ii) earlier periods of no indebtedness owing during the <br /> term of the Insured Mortgage, or <br /> d. (iii)the Insured Mortgage not complying with the requirements of state law of the state in <br /> which the Land is located to secure Advances. <br /> 3. The Company also insures against loss or damage sustained by the Insured by reason of: <br /> a. The invalidity or unenforceability of the lien of the Insured Mortgage resulting from any <br /> provisions of the Agreement that provide for(i) interest on interest, (ii) changes in the rate of <br /> • Page: 1 •• <br /> Page: 1 <br />