Add 'Basic Manual Of Title Insurance, Section III'

Basic-Manual-Of-Title-Insurance%2C-Section-III.md

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+[reference.com](https://www.reference.com/world-view/house-eave-5c3749e9c298656c?ad=dirN&qo=serpIndex&o=740005&origq=open+houses)<br>Effective November 1, 2024 (Order 2024-8851)<br>
+<br>R-6. Subsequent Issuance of Mortgagee Policy<br>[reference.com](https://www.reference.com/business-finance/difference-between-house-cottage-bb70ef2bcafa0bd0?ad=dirN&qo=paaIndex&o=740005&origq=open+houses)
+<br>1. Subsequent to Owner Policy - When a Mortgagee Policy( ies) is asked for, subsequent to the issuance of an Owner Policy which excepted to the Vendor's Lien, the premium shall be one-half the Basic Rate. The lien to be insured need to be as initially developed, and excepted to in the Owner Policy, and not an extension or rearrangement thereof. Such Mortgagee Policy( ies) will be provided in the quantity of the current overdue balance of stated indebtedness. The Company will be provided such evidence as it might require verifying such unsettled balance, that the indebtedness is not in default and that there has actually been no velocity of maturity. THIS RULE MAY NOT BE APPLIED in connection with the issuance of a series of Mortgagee Policies released by factor of notes being allocated to private systems in connection with a master policy covering the aggregate indebtedness, consisting of enhancements. Individual Mortgagee Policies must be released at the Basic Rates.<br>
+<br>2. Subsequent to Mortgagee Policy - When a Mortgagee Policy( ies) is requested, for any factor whatsoever, on a lien currently covered by an existing Mortgagee Policy( ies), however not on a renewal or extension thereof, the brand-new policy remaining in the amount of the present unpaid balance of the indebtedness, the premium for the new policy shall be at the Basic Rate, but a credit for three-tenths (3/10) of stated premium may be allowed.
+3. Subsequent to Mortgagee Policy - When an insolvent insurance provider is placed in long-term receivership by a court of proficient jurisdiction and a Mortgagee Policy( ies) is asked for on a lien currently covered by an existing Mortgagee Policy( ies) of said insolvent insurer, however not on a loan to take up, restore, extend or satisfy an existing lien, the new policy being in the quantity of the existing unsettled balance of the insolvency, the premium for the new policy will be at the fundamental rate, but a credit for one-half of stated premium will be enabled, unless such credit would reduce the premium to less than the minimum Basic Rate, in which case the rate will be the minimum Basic Rate. The insured will give up the existing Mortgagee Policy( ies) to the Company when positioning the order for a new Mortgagee Policy( ies). The date of Policy for the brand-new policy( ies) will be the same Date of Policy as the existing Mortgagee Policy( ies).<br>
+<br>R-7. Mortgagee Policies Covering First and Subordinate Liens Issued Simultaneously<br>
+<br>When a Mortgagee Policy is provided on a First Lien, and other policy( ies) is provided on Subordinate Lien( s), created in the exact same deal, covering the very same land or a portion thereof, the premium for the First Lien policy will be calculated on the total of the combined liens