Service standards loan taking
Security over Fishing Licences and Marine Mortgages
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- SCHEDULE A Subsequent Loan Facilities - BDC Loan Canada (revised 04/10) ENDORSEMENT
- Issuing Guidelines
- SCHEDULE B ENDORSEMENT TO TITLE POLICY
- Countersigned
- Toronto, Ontario, Canada
Security over Fishing Licences and Marine MortgagesWhere BDC is taking security over fishing licences, there is a special form of schedule which you must complete and attach to our standard GSA. In Atlantic Canada, you are also expected to complete a Notice of Financial Arrangement in the prescribed form and file same with the Department of Fisheries and Oceans Canada where BDC has taken security over fishing licences. If you are not provided sufficient particulars to enable you to complete the schedules, please request such information from the S&D Officer. Where BDC has taken a marine mortgage, you are also required to use BDC’s form of Marine Loan Agreement. SCHEDULE A Subsequent Loan Facilities - BDC Loan
Canada (revised 04/10) ENDORSEMENT Attached to and forming a part of Title Insurance Policy No. Issued by FIRST AMERICAN TITLE INSURANCE COMPANY 2235 Sheridan Garden Drive, Oakville, Ontario L6J 7Y5 Telephone: 905-287-3112 or 1-866-804-3112 1. Amend Date of Policy: Subsequent Advances On the creation of future indebtedness and liability up to the Amount of Insurance, other than pursuant to advances contemplated by the Revolving Credit Operating Line Facility endorsement, the Company will deem the Date of Policy to be the date of the creation of such future indebtedness and liability, provided that, as of the date of the creation of such future indebtedness and liability, the Insured: conducts a subsearch of the Public Records (including searching executions) and confirms there are no liens, encumbrances or adverse interests registered against Title; does not have actual Knowledge of any liens, encumbrances or adverse interests; and confirms realty taxes are not in arrears. 2. Priority of subsequent advances: Date of Policy The Insured acknowledges and agrees that on the creation of future indebtedness, other than pursuant to advances contemplated by the Revolving Credit Operating Line Facility endorsement, and if the Date of Policy is not deemed to be amended as provided for in paragraph 1, the Company is not liable for any loss or damage sustained by the Insured by reason of any matters covered under the policy arising or created subsequent to the Date of Policy. 3. Increasing Amount of Insurance Additional indebtedness may be created by the mortgagor to an amount which exceeds the Amount of Insurance and in such case, the Company will increase the Amount of Insurance to the amount requested by the Insured, not to exceed the amount of the Insured Mortgage, and will amend the Date of Policy to the date of the creation of such additional indebtedness and liability, provided that, as of the date of the creation of such additional indebtedness, the Insured: conducts a subsearch of the Public Records (including searching executions) and confirms there are no liens, encumbrances or adverse interests registered against the Title; does not have actual Knowledge of any liens, encumbrances or adverse interests; Subsequent Loan Facilities - BDC Loan
Canada (revised 04/10) confirms realty taxes are not in arrears; and agrees to pay the Company the premium at the then applicable rates for the increase in the Amount of Insurance. 4. Limitation of Company’s liability The Insured acknowledges and agrees that: in the event the total indebtedness of the mortgagor exceeds the Amount of Insurance and the Insured has not increased the Amount of Insurance as provided for herein, the Company’s liability for loss or damage arising from matters covered under the policy will be limited to losses not exceeding the amount by which the value of the Land at the time of loss falls below the Amount of Insurance; and if the indebtedness of the mortgagor is increased at any time subsequent to the Date of Policy so that the total Indebtedness of the mortgagor exceeds the Amount of Insurance and if the Date of Policy is not amended as provided for herein, the Company is not liable for any loss or damage sustained or incurred by the Insured by reason of any matters covered under the policy arising or created subsequent to the Date of Policy 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 to it. FIRST AMERICAN TITLE INSURANCE COMPANY By:  Thomas H. Grifferty, Regional Vice President,
International Operations Issuing Guidelines: In order to issue the Subsequent Loan Facilities endorsement the Insured must comply with the provisions stated in the endorsement. As to paragraph 1, it is not necessary to advise us of each subsequent advance, but you must maintain a record of your searches (including confirmation of taxes) and the date of each advance. SCHEDULE B ENDORSEMENT TO TITLE POLICY Attached to and forming part of Policy No. M-7762 Charge $Nil 05/06/2008 – Loan Issued by Stewart Title Guaranty Company herein called the Company SUBSEQUENT LOAN FACILITIES ENDORSEMENT (SPECIAL) 1. Insurance covers all indebtedness and liability and payments do not reduce the Amount of Insurance The Company acknowledges and agrees that the Insured Mortgage secures all present and future indebtedness and liability of the mortgagor up to the amount of insurance, as amended from time to time as provided for hereunder (the “Amount of Insurance”) and that, notwithstanding the terms and conditions of the policy and any endorsement, the Amount of Insurance shall not be reduced by payments made on any such indebtedness and liability. 2. Request to amend Date of Policy On creation of future indebtedness and liability up to the Amount of Insurance, other than pursuant to advances contemplated by the Revolving Credit Endorsement, the Company will deem the Date of Policy to be the date of the creation of such future indebtedness and liability, provided that, as of the date of the creation of such future indebtedness and liability, the Insured: i) conducts a subsearch of the Public Records (including searching executions) and confirms there are no liens, encumbrances, or adverse interests registered against the Title; ii) does not have Knowledge of any liens, encumbrances or adverse interests; and iii) confirms realty taxes are not in arrears. 3. Priority of subsequent advances: Date of Policy The Insured acknowledges and agrees that on the creation of future indebtedness and liability, other than pursuant to advances contemplated by the Revolving Credit Endorsement, and if the Date of Policy is not deemed to be amended as provided for herein, the Company is not liable for any loss or damage sustained or incurred by the Insured by reason of any matters covered under the policy arising or created subsequent to the Date of Policy. This Endorsement is made a part of the policy and is subject to all the terms and provisions thereof and of any prior endorsements thereto. Except to the extent expressly stated, this Endorsement neither modifies any of the terms and provisions of the policy and any prior endorsements, nor does it extend the effective date of the policy and prior endorsements, nor does it increase the face amount thereof. Signed under seal for the Company, but this Endorsement is to be valid only when it bears an authorized countersignature, dated XXXXXXX. 
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