FNTIC ALTA Policy Comparisons

ALTA LOAN POLICY COMPARISON CHART This comparison chart is intended as a guide to identifying differences between the 2021 and 2006 ALTA policies. It should not be relied upon for the interpretation of these policies. Updated 07-14-2021 ALTA LOAN POLICY COMPARISON CHART Page | 23 2006 ALTA LOAN POLICY 2021 ALTA LOAN POLICY COMPARISON (v. 7-30-2021) COMMENTS (b) Any claim of loss or damage that arises out of the status of the Title or lien of the Insured Mortgage or by any action asserting such claim shall be restricted to this policy. (b) Any claim of loss or damage that arises out of the status of the Title or lien of the Insured Mortgage or by any action asserting such claim shall be restricted to this policy. SIMILAR. This is now addressed in Condition 8 of the 2021 ALTA policies. (c) Any amendment of or endorsement to this policy must be in writing and authenticated by an authorized person, or expressly incorporated by Schedule A of this policy. (c) Any amendment of or endorsement to this policy must be in writing and authenticated by an authorized person, or expressly incorporated by Schedule A of this policy. SAME. (d) Each endorsement to this policy issued at any time is made a part of this policy and is subject to all of its terms and provisions. Except as the endorsement expressly states, it does not (d)b. Any amendment of this policy must be by a written endorsement issued by the Company. To the extent any term or provision of an endorsement is inconsistent with any term or provision of this policy, the term or provision of the endorsement controls.Each endorsement to this policy issued at any time is made a part of this policy and is subject to all of its terms and provisions. UnlessExcept as the endorsement expressly states, it does not: SAME. (i) modify any of the terms and provisions of the policy, (i) modify any of the terms and provisions of the policy, SIMILAR. (ii) modify any prior endorsement, (ii)i. modify any prior endorsement, SAME. (iii) extend the Date of Policy, or (iii)ii. extend the Date of Policy, or SAME. iii. insure against loss or damage exceeding the Amount of Insurance, or SIMILAR. (iv) increase the Amount of Insurance. (iv). increase the Amount of Insurance. SAME. 15. SEVERABILITY 15.14. SEVERABILITY SAME. In the event any provision of this policy, in whole or in part, is held invalid or unenforceable under applicable law, the policy shall be deemed not to include that provision or such part held to be invalid, but all other provisions shall remain in full force and effect. In the event any provision of this policy, in whole or in part, is held invalid or unenforceable under applicable law, thethis policy shallwill be deemed not to include that provision or suchthe part held to be invalid, but all other provisions shallwill remain in full force and effect. SAME. 16. CHOICE OF LAW; FORUM 16.15. CHOICE OF LAW; AND CHOICE OF FORUM SIMILAR. (a) Choice of Law: (a). Choice of Law : SIMILAR. The Insured acknowledges the Company has underwritten the risks covered by this policy and determined the premium charged therefor in reliance upon the law affecting interests in real property and applicable to the interpretation, rights, remedies, or enforcement of policies of title insurance of the jurisdiction where the Land is located. The Insured acknowledges the Company has underwritten the risks covered by this policy and determined the premium charged therefor in reliance upon the State law affecting interests in real property and the State law applicable to the interpretation, rights, remedies, or enforcement of policies of title insurance of the jurisdiction State where the Land is located. SIMILAR. Condition 15.a. of the 2021 ALTA Loan Policy clearly provides the State law of the State where the Land is located governs the interpretation, rights, remedies, or enforcement of the policy. Therefore, the court or an arbitrator shall apply the law of the jurisdiction where the Land is located to determine the validity of claims against the Title or the lien of the Insured Mortgage that are adverse to the Insured and to interpret and enforce the terms of this policy. In neither case shall the court or arbitrator apply its conflicts of law principles to determine the applicable law. Therefore, the court or an arbitrator shall apply theThe State law of the Statejurisdiction where the Land is located, or to the extent it controls, federal law, willto determine the validity of claims against the Title or the lien of the Insured Mortgage that are adverse to the Insured and the interpretationto interpret and enforcement ofenforce the terms of this policy. In neither case shall the court or arbitrator apply its , without regard to conflicts of law principles to determine the applicable law. (b) Choice of Forum: (b). Choice of Forum : SIMILAR. Any litigation or other proceeding brought by the Insured against the Company must be filed only in a state or federal court within the United States of America or its territories having appropriate jurisdiction. Any litigation or other proceeding brought by the Insured against the Company must be filed only in a Statestate or federal court within the United States of America or its territories having appropriate jurisdiction. SAME.