Construction Loan – Loss of Priority – Direct Payment – (ALTA 32.1-06, CLTA 137.1-06)

Loan Policy. Deletes Covered Risk 11(a) from the policy. Coverage same as 32-06, except that this endorsement also covers against loss of priority caused by any unfiled mechanic’s lien but only to the extent the direct payment to the mechanic’s lien claimant has been made by the by the company or by the insured with the company’s written approval.

32.1-06_Construction_Loan_Pending_Disbursement_-_02-03-2011[1] ALTA 32.1-06,
CLTA 137.1-06