FNTIC ALTA Policy Comparisons

American Land Title Association Loan Policy of Title Insurance [2021 v. 01.00 (07-01-2021)] Copyright 2021 American Land Title Association. All rights reserved. The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association. 5. A violation or enforcement of a law, ordinance, permit, or governmental regulation (including those relating to building and zoning), but only to the extent of the violation or enforcement described by the enforcing governmental authority in an Enforcement Notice that identifies a restriction, regulation, or prohibition relating to: a. the occupancy, use, or enjoyment of the Land; b. the character, dimensions, or location of an improvement on the Land; c. the subdivision of the Land; or d. environmental remediation or protection on the Land. 6. An enforcement of a governmental forfeiture, police, regulatory, or national security power, but only to the extent of the enforcement described by the enforcing governmental authority in an Enforcement Notice. 7. An exercise of the power of eminent domain, but only to the extent: a. of the exercise described in an Enforcement Notice; or b. the taking occurred and is binding on a purchaser for value without Knowledge. 8. An enforcement of a PACA-PSA Trust, but only to the extent of the enforcement described in an Enforcement Notice. 9. The invalidity or unenforceability of the lien of the Insured Mortgage upon the Title. Covered Risk 9 includes, but is not limited to, insurance against loss caused by: a. forgery, fraud, undue influence, duress, incompetency, incapacity, or impersonation; b. the failure of a person or Entity to have authorized a transfer or conveyance; c. the Insured Mortgage not being properly authorized, created, executed, witnessed, sealed, acknowledged, notarized (including by remote online notarization), or delivered; d. a failure to perform those acts necessary to create an Insured Mortgage by electronic means authorized by law; e. a document having been executed under a falsified, expired, or otherwise invalid power of attorney; f. the Insured Mortgage not having been properly filed, recorded, or indexed in the Public Records, including the failure to have performed those acts by electronic means authorized by law; g. a defective judicial or administrative proceeding; or h. invalidity or unenforceability of the lien of the Insured Mortgage as a result of the repudiation of an electronic signature by a person that executed the Insured Mortgage because the electronic signature on the Insured Mortgage was not valid under applicable electronic transactions law. 10. The lack of priority of the lien of the Insured Mortgage upon the Title over any other lien or encumbrance on the Title as security for the following components of the Indebtedness: a. the amount of the principal disbursed as of the Date of Policy; b. the interest on the obligation secured by the Insured Mortgage; c. the reasonable expense of foreclosure; d. amounts advanced for insurance premiums by the Insured before the acquisition of the estate or interest in the Title; and e. the following amounts advanced by the Insured before the acquisition of the estate or interest in the Title to protect the priority of the lien of the Insured Mortgage: i. real estate taxes and assessments imposed by a governmental taxing authority; and ii. regular, periodic assessments by a property owners’ association. 11. The lack of priority of the lien of the Insured Mortgage upon the Title: a. as security for each advance of proceeds of the loan secured by the Insured Mortgage over any statutory lien for service, labor, material, or equipment arising from construction of an improvement or work related to the Land when the improvement or work is: i. contracted for or commenced on or before the Date of Policy; or