ALTA 37-06: Assignment of Rents or Leases
ALTA 37-06: Assignment of Rents or Leases
This endorsement may be issued on loan policies for improved or unimproved properties whether commercial or residential. This Endorsement, when affixed to a loan Policy, provides insurance against loss or damage by reason of:
(A) any defect in the execution of the Assignment of Rents or Leases Document or
(B) any assignment of the lessor's interest in any lease or leases or any assignment of rents affecting the Title and recorded in the Public Records at
Date of Policy other than as set forth in any instrument referred to in Schedule B.
The charge for the issuance of this Endorsement shall be 5% of the applicable Underwriting Charge, with a minimum charge of $100.00