New Jersey Agencies

NJRB 5-10 Construction Loan

This policy is a term policy issued at a special rate for construction loans, and coverage hereunder will expire three years from its effective date. All claims under this policy must be made before the expiration of this three year period. This term policy will not be extended or renewed beyond said expiration date. A permanent loan policy may be obtained by paying the balance of the applicable underwriting rate on or before the expiration date.

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.

Signed under seal for the Company, but this Endorsement is to be valid only when it bears an authorized countersignature.

[Witness clause optional]

Date: ________________________


Authorized Signatory

NJRB 5-10 Construction Loan
Adopted 8/7/00