Common use of Final Endorsement Clause in Contracts

Final Endorsement. The Title Company issues an endorsement to the loan policy of title insurance deleting the pending disbursement clause, confirming that the policy is without exceptions, is for the full amount disbursed, has an effective date no earlier than the date of the Final Advance, and insuring that the Security Instrument is a good and satisfactory first security interest of record prior to all encumbrances and providing full coverage against mechanic& liens.

Final Endorsement. The Title Company issues an endorsement to the loan policy of title insurance deleting the pending disbursement clause, confirming that the policy is without exceptions, is for the full amount disbursed, has an effective date no earlier than the date of the Final Advance, and insuring that the Security Instrument is a good and satisfactory first security interest of record prior to all encumbrances and providing full coverage against mechanic& mechanics’ liens.