Download Last Dollar Endorsement

ENDORSEMENT
Attached to Policy No.
Issued by
Chicago Title Insurance Company
The Company has been advised by the insured that the mortgage insured herein secures an
indebtedness to the insured in an amount in excess of the amount of this policy. The Company
agrees that in calculating the amount of indebtedness secured by the insured mortgage under
paragraphs 7 and 9 of the Conditions and Stipulations of this policy, payments made to reduce the
amount of said indebtedness (except payments made by the Company pursuant to provisions of
this policy) shall be deemed applied first to the portion of said indebtedness that is in excess of
the amount of insurance stated in Schedule A.
Furthermore, it is agreed that the books and records of the insured with respect to the payment of
the indebtedness secured by the mortgage shall be conclusive evidence of the application of
payments of the indebtedness. Said books and records shall be kept according to any proper and
recognized method of accounting for payment of secured obligations.
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.
By:______________________________
Last Dollar Endorsement (For 1987, 1990 and 1992 versions)