Endorsement 10.2 – Collateral Assignment [2021 v. 01.00 (04-02-2024)] 7. If the Insured, the Collateral Assignee, or others have conflicting claims to all or part of the loss payable under the policy, the Company may interplead the amount of the loss into Court. The Insured and the Collateral Assignee will be jointly and severally liable for the Company’s reasonable cost for the interpleader and subsequent proceedings, including attorneys’ fees. The Company will be entitled to payment of the sums for which the Insured and Collateral Assignee are liable under the preceding sentence from the funds deposited into Court, and it may apply to the Court for their payment. 8. Whenever the Company has settled a claim and paid the Collateral Assignee pursuant to this endorsement, the Company will be subrogated and entitled to all rights and remedies that the Collateral Assignee may have against any person or property arising from the Collateral Assignment. 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. AGREED AND CONSENTED TO: [Drafting Instruction: Insert name of Insured] By: _______________________________ [Authorized Signatory] [Witness clause] FIDELITY NATIONAL TITLE INSURANCE COMPANY By: _____________________________ [Authorized Signatory] [Drafting Instruction: Insert name of Collateral Assignee] By: _______________________________ [Authorized Signatory] ALTA ENDORSEMENTS - 85 - SAMPLES AND DESCRIPTIONS
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