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EXHIBIT 7
<br />2006 ALTA OWNER'S POLICY (06-17-06)
<br />EXCLUSIONS FROM COVERAGE
<br />The following matters are expressly excluded from the coverage of this policy, and the Company will not pay loss or damage, costs, attorneys' fees, or
<br />expenses that arise by reason of:
<br />1. (a) Any law, ordinance, permit, or governmental regulation (including those relating to building and zoning) restricting, regulating, prohibiting, or
<br />relating to
<br />(i) the occupancy, use, or enjoyment of the Land;
<br />(ii) the character, dimensions, or location of any improvement erected on the Land;
<br />(iii) the subdivision of land; or
<br />(iv) environmental protection;
<br />or the effect of any violation of these laws, ordinances, or governmental regulations. This Exclusion 1(a) does not modify or limit the coverage
<br />provided under Covered Risk 5.
<br />(b) Any governmental police power. This Exclusion 1(b) does not modify or limit the coverage provided under Covered Risk 6.
<br />2. Rights of eminent domain. This Exclusion does not modify or limit the coverage provided under Covered Risk 7 or 8.
<br />3. Defects, liens, encumbrances, adverse claims, or other matters
<br />(a) created, suffered, assumed, or agreed to by the Insured Claimant;
<br />(b) not Known to the Company, not recorded in the Public Records at Date of Policy, but Known to the Insured Claimant and not disclosed in
<br />writing to the Company by the Insured Claimant prior to the date the Insured Claimant became an Insured under this policy;
<br />(c) resulting in no loss or damage to the Insured Claimant;
<br />(d) attaching or created subsequent to Date of Policy (however, this does not modify or limit the coverage provided under Covered Risk 9 and 10);
<br />or
<br />(e) resulting in loss or damage that would not have been sustained if the Insured Claimant had paid value for the Title.
<br />4. Any claim, by reason of the operation of federal bankruptcy, state insolvency, or similar creditors' rights laws, that the transaction vesting the Title
<br />as shown in Schedule A, is
<br />(a) a fraudulent conveyance or fraudulent transfer; or
<br />(b) a preferential transfer for any reason not stated in Covered Risk 9 of this policy.
<br />5. Any lien on the Title for real estate taxes or assessments imposed by governmental authority and created or attaching between Date of Policy and
<br />the date of recording of the deed or other instrument of transfer in the Public Records that vests Title as shown in Schedule A.
<br />EXCEPTIONS FROM COVERAGE
<br />This policy does not insure against loss or damage, and the Company will not pay costs, attorneys' fees or expenses, that arise by reason of:
<br />NOTE: The 2006 ALTA Owner's Policy may be issued to afford either Standard Coverage or Extended Coverage. In addition to variable exceptions such
<br />as taxes, easements, CC&R's, etc., the Exceptions from Coverage in a Standard Coverage policy will also include the Western Regional Standard
<br />Coverage Exceptions listed below as 1 through 7 below:
<br />1. (a) Taxes or assessments that are not shown as existing liens by the records of any taxing authority that levies taxes or assessments on real
<br />property or by the Public Records; (b) proceedings by a public agency that may result in taxes or assessments, or notices of such
<br />proceedings, whether or not shown by the records of such agency or by the Public Records.
<br />2. Any facts, rights, interests, or claims that are not shown by the Public Records at Date of Policy but that could be (a) ascertained by an inspection
<br />of the Land, or (b) asserted by persons or parties in possession of the Land.
<br />3. Easements, liens or encumbrances, or claims thereof, not shown by the Public Records at Date of Policy.
<br />4. Any encroachment, encumbrance, violation, variation, easement, or adverse circumstance affecting the Title that would be disclosed by an
<br />accurate and complete land survey of the Land and not shown by the Public Records at Date of Policy.
<br />5. (a) Unpatented mining claims; (b) reservations or exceptions in patents or in Acts authorizing the issuance thereof; (c) water rights, claims or title to
<br />water, whether or not the matters excepted under (a), (b), or (c) are shown by the Public Records.
<br />6. Any lien or right to a lien for services, labor, material or equipment unless such lien is shown by the Public Records at Date of Policy.
<br />7. Any claim to (a) ownership of or rights to minerals and similar substances, including but not limited to ores, metals, coal, lignite, oil, gas, uranium,
<br />clay, rock, sand, and gravel located in, on, or under the Land or produced from the Land, whether such ownership or rights arise by lease, grant,
<br />exception, conveyance, reservation, or otherwise; and (b) any rights, privileges, immunities, rights of way, and easements associated therewith or
<br />appurtenant thereto, whether or not the interests or rights excepted in (a) or (b) appear in the Public Records or are shown in Schedule B.
<br />Attachment One — CA (Rev. 11-04-22) Last Saved: 7/10/2024 3:38 PM by KM2
<br />MISCO267 (DSI Rev. 3/16/23) Page 5 Order No.: 30119105-997-MAT-TS4
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