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EXHIBIT 3
<br /> Order Number: 5850714-A (tc)
<br /> Page Number: 12
<br /> ALTA OWNER'S POLICY[(07-01-2021)V.01.001
<br /> CLTA STANDARD COVERAGE OWNER'S POLICY[(02-04-22)V.01.00]
<br /> EXCLUSIONS FROM COVERAGE
<br /> The following matters are 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)that restricts,regulates,
<br /> prohibits,or relates to:
<br /> i. the occupancy, use,or enjoyment of the Land;
<br /> ii. the character,dimensions,or location of any improvement on the Land;
<br /> iii. the subdivision of land;or
<br /> iv. environmental remediation or protection.
<br /> b. any governmental forfeiture,police,regulatory,or national security power.
<br /> c. the effect of a violation or enforcement of any matter excluded under Exclusion i.a. or 1.b.
<br /> Exclusion 1 does not modify or limit the coverage provided under Covered Risk 5 or 6.
<br /> 2. Any power of eminent domain. Exclusion 2 does not modify or limit the coverage provided under Covered Risk 7.
<br /> 3. Any defect,lien,encumbrance,adverse claim,or other matter:
<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 the Date of Policy, but Known to the Insured Claimant and not
<br /> disclosed in writing to the Company by the Insured Claimant prior to the date the Insured Claimant became an Insured under this
<br /> policy;
<br /> C. resulting in no loss or damage to the Insured Claimant;
<br /> d. attaching or created subsequent to the Date of Policy(Exclusion 3.d. does not modify or limit the coverage provided under Covered
<br /> Risk 9 or 10);or
<br /> e. resulting in loss or damage that would not have been sustained if consideration sufficient to qualify the Insured named in Schedule
<br /> A as a bona fide purchaser had been given for the Title at the Date of Policy.
<br /> 4. Any claim, by reason of the operation of federal bankruptcy,state insolvency,or similar creditors'rights law,that the transaction vesting
<br /> the Title as shown in Schedule A is a:
<br /> a. fraudulent conveyance or fraudulent transfer;
<br /> b. voidable transfer under the Uniform Voidable Transactions Act;or
<br /> C. preferential transfer:
<br /> i. to the extent the instrument of transfer vesting the Title as shown in Schedule A is not a transfer made as a contemporaneous
<br /> exchange for new value; or
<br /> ii. for any other reason not stated in Covered Risk 9.b.
<br /> 5. Any claim of a PACA-PSA Trust. Exclusion 5 does not modify or limit the coverage provided under Covered Risk 8.
<br /> 6. Any lien on the Title for real estate taxes or assessments imposed or collected by a governmental authority that becomes due and
<br /> payable after the Date of Policy. Exclusion 6 does not modify or limit the coverage provided under Covered Risk 2.b.
<br /> 7. Any discrepancy in the quantity of the area,square footage,or acreage of the Land or of any improvement to the Land.
<br /> NOTE:The 2021 ALTA Owner's Policy may be issued to afford either Standard Coverage or Extended Coverage. In addition to variable
<br /> exceptions such as taxes,easements,CC&R's,etc.,the Exceptions from Coverage in a Standard Coverage policy will also include the Western
<br /> Regional Standard Coverage Exceptions listed below as numbers 1 through 7. The 2021 CLTA Standard Coverage Owner's Policy will include
<br /> the Western Regional Standard Coverage Exceptions listed below as numbers 1 through 7.
<br /> EXCEPTIONS FROM COVERAGE
<br /> Some historical land records contain Discriminatory Covenants that are illegal and unenforceable by law.This policy treats any Discriminatory
<br /> Covenant in a document referenced in Schedule B as if each Discriminatory Covenant is redacted, repudiated,removed,and not republished
<br /> or recirculated. Only the remaining provisions of the document are excepted from coverage.
<br /> This policy does not insure against loss or damage and the Company will not pay costs,attorneys'fees,or expenses resulting from the terms
<br /> and conditions of any lease or easement identified in Schedule A.and the following matters:
<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
<br /> real 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 but that could be ascertained by an inspection of the Land
<br /> or that may be asserted by persons in possession of the Land.
<br /> 3. Easements,liens or encumbrances,or claims thereof, not shown by the Public Records.
<br /> 4. Any encroachment,encumbrance,violation,variation,or adverse circumstance affecting the Title that would be disclosed by an accurate
<br /> and complete land survey of the Land and not shown by the Public Records.
<br /> 5. (a)Unpatented mining claims; (b) reservations or exceptions in patents or in Acts authorizing the issuance thereof; (c)water rights,
<br /> claims or title to 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 or material 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,
<br /> First American Title
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