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Order Number: OSA- 5013727
<br />Page Number: 9
<br />(a) a notice of exercising the right appears in the public records on the Policy Date
<br />(b) the taking happened prior to the Policy Date and Is binding on you if you bought the land without knowing of the taking
<br />3. Title Risks:
<br />(a) that are created, allowed, or agreed to by you
<br />(b) that are known to you, but not to us, on the Policy Date -- unless they appeared In the public records
<br />(c) that result in no loss to you
<br />(d) that first affect your title after the Policy Date -- this does not limit the labor and material lien coverage in Item 8 of Covered Title Risks
<br />4. Failure to pay value for your title.
<br />5. Lack of a right:
<br />(a) to any land outside the area specifically described and referred to in Item 3 of Schedule A OR
<br />(b) in streets, alleys, or waterways that touch your land
<br />This exclusion does not remit the access coverage in Item 5 of Covered Title Risks.
<br />2006 ALTA LOAN 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'
<br />fees, or 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,
<br />prohibiting, or 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 Ila) does not modify or limit the
<br />coverage 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 S.
<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
<br />In 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 11,
<br />13, or 14); or
<br />(e) resulting in loss or damage that would not have been sustained if the Insured Claimant had paid value for the Insured Mortgage,
<br />4. Unenforceability of the lien of the Insured Mortgage because of the inability or failure of an Insured to comply with applicable doing -
<br />business laws of the state where the Land is situated.
<br />5. Invalidity or unenforceability in whole or in part of the lien of the Insured Mortgage that arises out of the transaction evidenced by the
<br />Insured Mortgage and is based upon usury or any consumer credit protection or truth -In- lending law.
<br />6. Any claim, by reason of the operation of federal bankruptcy, state insolvency, or similar creditors' rights laws, that the transaction creating
<br />the lien of the Insured Mortgage, is
<br />(a) a fraudulent conveyance or fraudulent transfer, or
<br />(b) a preferential transfer for any reason not stated in Covered Risk 13(b) of this policy.
<br />7. Any lien on the Title for real estate taxes or assessments imposed by governmental authority and created or attaching between Date of
<br />Policy and the date of recording of the Insured Mortgage in the Public Records. This Exclusion does not modify or limit the coverage
<br />provided under Covered Risk 11(b).
<br />The above policy form may be issued to afford either Standard Coverage or Extended Coverage. In addition to the above Exclusions from
<br />Coverage, the Exceptions from Coverage in a Standard Coverage policy will also include the following Exceptions from Coverage:
<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 />L (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 but that could be ascertained by an inspection of the Land or
<br />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 />First American Title
<br />Page 9 of 12
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