Security Title Endorsement Guide

PLANNED UNIT DEVELOPMENT ALTA 5-06 (02-03-10) and 5.1-06 (10-16-08)

These endorsements provide affirmative coverage for lenders loaning on the security of units in a

Planned Unit Development, or PUD. Affirmative coverage is provided against loss caused by

violation of restrictions or by the existence of certain kinds of restrictions. In addition, both cover

loss from enforced removal of buildings by reason of encroachments and from failure of Title, as

defined by the policies, caused by the exercise of any right of first refusal. The ALTA 5-06 insures

against loss from lack of priority of the mortgage lien over the lien for homeowners’ association

assessments. The ALTA 5.1-06 differs in that there is no insurance of priority over future

assessments in Paragraph 2 of the 5.1-06; instead it only covers unpaid assessments at date of

policy. The ALTA 5.1-06 may be used with either an Owner’s or Lender’s Policy.

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