Security Title Endorsement Guide

STREET ASSESSMENTS ALTA ENDORSEMENT - FORM 1-06 (06-17-06)

The repair and maintenance of public streets is either contracted for by a governmental body or

done directly by government employees. The property owners adjoining the streets or in the

generally benefited area are usually assessed the costs of the work on some basis. The

governmental body is almost universally given a lien to secure the payment of this assessment.

This endorsement is concerned with the priority of that lien if the improvements are either in

process or completed at the Date of Policy. If this lien is prior to the lien of the Insured Mortgage

and the assessments are not paid by the borrower, the lender will have to pay them in order to

stop a tax foreclosure. This endorsement covers the loss or damage which the lender may

sustain by having to pay the assessments which have gained priority over the Insured Mortgage.

This endorsement is not filed in California.

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