Item HA 03 - Subordination Agreement and Lease Rider for FX Residences

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EXHIBIT 3 CLTA Preliminary Report Form Order Number: 5850714-A (tc) (Rev. 11/06) Page Number: 1 Post Closing Report * .� A W f rt First American Title Company 4140 Temescal Canyon Rd, Ste 301 Corona, CA 92883 Customer Reference: 801, 807, 809 &809 1/2 E. Santa Ana Blvd Order Number: 5850714-A (tc) Title Officer: Terrell Crutchfield Phone: (951)256-5879 Fax No.: (866)558-2872 E-Mail: tcrutchfield@firstam.com Escrow Officer: Sheri Keene Phone: (858)410-1305 Fax No.: (866)898-0113 E-Mail: X_skeene@firstam.com Buyer: Property: Santa Ana, CA PRELIMINARY REPORT In response to the above referenced application for a policy of title insurance,this company hereby reports that it is prepared to issue,or cause to be issued,as of the date hereof,a Policy or Policies of Title Insurance describing the land and the estate or interest therein hereinafter set forth, insuring against loss which may be sustained by reason of any defect,lien or encumbrance not shown or referred to as an Exception below or not excluded from coverage pursuant to the printed Schedules,Conditions and Stipulations of said Policy forms. The printed Exceptions and Exclusions from the coverage and Limitations on Covered Risks of said policy or policies are set forth in Exhibit A attached. The policy to be issued may contain an arbitration clause. When the Amount of Insurance is less than that set forth in the arbitration clause,all arbitrable matters shall be arbitrated at the option of either the Company or the Insured as the exclusive remedy of the parties. Limitations on Covered Risks applicable to the CLTA and ALTA Homeowner's Policies of Title Insurance which establish a Deductible Amount and a Maximum Dollar Limit of Liability for certain coverages are also set forth in Exhibit A. Copies of the policy forms should be read.They are available from the office which issued this report. Please read the exceptions shown or referred to below and the exceptions and exclusions set forth in Exhibit A of this report carefully.The exceptions and exclusions are meant to provide you with notice of matters which are not covered under the terms of the title insurance policy and should be carefully considered. It is important to note that this preliminary report is not a written representation as to the condition of title and may not list all liens,defects,and encumbrances affecting title to the land. Please be advised that any provision contained in this document,or in a document that is attached,linked or referenced in this document,that under applicable law illegally discriminates against a class of individuals based First American Title