Continuation of Title Insurance Coverage. Each Draw Request shall, if required by the City, be accompanied by a satisfactory endorsement to the previously issued Title Policy, which endorsement shall (i) indicate that since the effective date of said policy (or the effective date of the last such endorsement, if any) there has been no change in the status of title to the Property as set out in said policy, (ii) have the effect of increasing the coverage under the "pending disbursement" clause of the policy by an amount equal to the advance then being made, and (iii) contain such other provisions as may be required by the City.
Continuation of Title Insurance Coverage. Each Certificate for Payment shall, at the request of Lender, be accompanied by a satisfactory down date endorsement to the previously delivered Mortgagee Title Policy which endorsement shall (i) extend the effective date of the Mortgagee Title Policy to the date of advancement and show that since the effective date of said Policy (or the effective date of the last such endorsement, if any) there has been no change in the status of the title to the Property and no new encumbrance thereon and (ii) state the amount of coverage then existing under the Mortgagee Title Policy which shall be the total of all disbursements of the Loan including the disbursement which is made concurrently with the down date endorsement.
Continuation of Title Insurance Coverage. Each Draw Request shall, at the request of Lender, be accompanied by a satisfactory endorsement to the previously delivered mortgagee title insurance policy, which endorsement shall (i) indicate that since the effective date of said policy (or the effective date of the last such endorsement, if any) there has been no change in the status of title to the Property as set out in said policy and (ii) have the effect of increasing the coverage of the policy by an amount equal to the advance then being made.
Continuation of Title Insurance Coverage. Each Advance Request shall, at the request of Administrative Agent, be accompanied by a satisfactory down date endorsement to the previously delivered Loan Title Policy in the form prescribed by the Texas Department of Insurance to the Loan Title Policy pursuant to Rule P-9.b.(4), which endorsement shall (i) extend the effective date of the Loan Title Policy to the date of advancement and show that since the effective date of the Loan Title Policy (or the effective date of the last such endorsement, if any) there has been no change in the status of the title to the Property and no new encumbrance or exception to title coverage except as may have been approved by Administrative Agent and (ii) state the amount of coverage then existing under the Loan Title Policy which shall be the total of all disbursements of the Loans including the disbursement which is made concurrently with the down date endorsement.
Continuation of Title Insurance Coverage. At the discretion of Lender, the abovesaid Certificate for Payment shall be accompanied by a construction loan endorsement to the Title Policy (paid for by the Borrower), which endorsement shall (a) indicate that since the effective date of the Title Policy (or the effective date of the last such endorsement,if any),there has been no change in the status of title to the Land as set out in the Title Policy, and (b) have the effect of increasing the coverage of the Title Policy by an amount equal to the advance then being made, unless the Title Policy expressly provides automatically and unconditionally for such increase in coverage upon each such disbursement. Lender reserves the right to require an endorsement to the title insurance policy, insuring that the building location is not in violation of any easements of record.
Continuation of Title Insurance Coverage. The Certificate for Payment shall be accompanied by a date down endorsement to the Title Policy, which endorsement shall (a) indicate that since the effective date of the Title Policy (or the effective date of the last such endorsement, if any), there has been no change in the status of title to the Property as set out in the Title Policy, and (b) have the effect of increasing the coverage of the Title Policy by an amount equal to the advance then being made, unless the Title Policy expressly provides automatically and unconditionally for such increase in coverage upon each such disbursement.
Continuation of Title Insurance Coverage. The Certificate for Payment shall be accompanied by a date down endorsement to the Title Policy, which endorsement shall (a) indicate that since the effective date of the Title Policy (or the effective date of the last such endorsement, if any), there has been no change in the status of title to the Property as set out in the Title Policy, and (b) have the effect of increasing the coverage of the Title Policy by an amount equal to the advance then being made, unless the Title Policy expressly provides automatically and unconditionally for such increase in coverage upon each such disbursement. Lender reserves the right to require an endorsement to the title insurance policy, insuring that the building location is not in violation of any easements of record and a Certificate of Architect certifying that the building location is not in violation of any setback restrictions.
Continuation of Title Insurance Coverage. Each Request for Advance for and Advance from the Construction Loan Tranche shall, at the request of Bank, be accompanied by a satisfactory down date endorsement to the previously delivered Title Policy which endorsement shall (i) extend the effective date of the Title Policy to the date of advancement and show that since the effective date of the Policy (or the effective date of the last such endorsement, if any) there has been no change in the status of the title to the Section N Property and no new encumbrance thereon and (ii) state the amount of coverage then existing under the Title Policy which shall be the total of all disbursements of the Loan including the disbursement which is made concurrently with the down date endorsement.
Continuation of Title Insurance Coverage. The above said Certificate for Payment shall, at the request of Lender, be accompanied by a satisfactory endorsement to the previously delivered mortgagee title insurance policy which endorsement shall (i) indicate that since the effective date of said policy (or the effective date of the last such endorsement, if any) there has been no change in the status of title to the Land as set out in said policy and (ii) have the effect of increasing the coverage of the policy by an amount equal to the advance then being made unless said policy expressly provides automatically and without condition for such increase in coverage upon each such disbursement.
Continuation of Title Insurance Coverage. The above said request for disbursement shall, at the request of Lender, be accompanied by a satisfactory down date endorsement to the previously delivered Mortgagee Title Policy which endorsement shall (i) extend the effective date of the Mortgagee Title Policy to the date of advancement and show that since the effective date of said Policy (or the effective date of the last such endorsement, if any) there has been no change in the status of the title to the Premises and no new encumbrance thereon and (ii) state the amount of coverage then existing under the Mortgagee Title Policy which shall be the total of all disbursements of the Loan including the disbursement which is made concurrently with the down date endorsement.
