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PrelimReport816-842WHamiltonAve...._ 'l -"~I,-; P. I .::.'~: (• ~~ ~·~-t Order Number: NCS-406672·SAC4 Page Number: 1 First American Title Insurance Company National Commercial Services Raymond V. Castello 1790 S. Winchester Blvd, Suite 1, Campbell, CA 95008 Phone: (408)866-6616 Fax: Customer Reference: Buyer: Property: 1610 ArdE!n Way, Suite 101 Sacramento, CA 95815 816-842 West Hamilton Avenue Raymond V. Ca'.,tello 816-842 West r amilton Avenue, Campbell, 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 Limi :ations 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 cption of either the Company or the Insured as the exclusive remedy of the parties. Limitations on Covered Risks applicable to the CLTA and Al.TA 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 tlte land. This report (and any supplements or amendments hereto) is issuec solely for the purpose of facilitating the issuance of a policy of title insurance and no liability is assumed hereby. If It is desired that liability be assumed prior to the issuance of a policy of title insurance, a Binder or Commitment should be requested. Arst American Tille Insurance Company Dated as of July 24, 2009 at 7:30 A.M. The form of Policy of title insurance contemplated by this report is: To Be Determined Order Number: NCS-406672-SAC4 Page Number: 2 A specific request should be made if another form or additional coverage is desired. Title to said estate or interest at the date hereof is vested in: Raymond V. Castello, a married man as his sole and separate property; Eileen J. Moreno, a married woman as her sole and separate property; Linda M. Orr a married woman as her sole and separate property; Raymond V. castello and Wanda Karla Castello, as community property; Eileen M. Marino and Joseph R. Marino, as community property; Linda M. Orr and Jack P. Orr, as community property; Raymond V. Castello, as Trustee of the Castello Survivor's Exempt Trust for the benefit of Linda M. Orr, established u1der the Castello Family Trust dated July 17, 1997; Raymond V. castello, as Trustee of the C3stello Survivor's Exempt Trust for the benefit of Raymond V. Castello, established under tie Castello Family Trust dated July 17, 1997; and Raymond V. Castello, as Trustee of the Castello Survivor's Exempt Trust for the benefit of Eileen J. Marino, established under the Castello ;::amily Trust dated July 17, 1997, all as tenants in common as their interest may appear of record. The estate or interest in the land hereinafter described or referred to covered by this Report is: Fee Simple The Land referred to herein is described as follows: (See attached Legal Description) At the date hereof exceptions to coverage in addition to the printed Exceptions and Exclusions in said policy form would be as follows: 1. General and special taxes and assessments for the fiscal year 2009-2010, a lien not yet due or payable. 2. The lien of supplemental taxes, if any, assessed pursuant to Chapter 3.5 commencing with Section 75 of the California Revenue and Taxation Code. 3. Assessment liens, if applicable, collected v1ith the general and special taxes, including but not limited to those disclosed by the reflection of the following on the tax roll: Community Facilities District County Library First American Tli1e Insurance Company Order Number: NCS-406672-SAC4 Page Number: 3 4. The terms, provisions and easement(s) contained in the document entitled "Agreement Establishing Covenants, Conditions, Rest1•ictions and Cross Easements" recorded July 25, 1969 in Book 8616, Page 85 of Official Records. Document(s) declaring modifications thereof recorded March 18, 1970 in Book 8863, Page 31 of Official Records. Document(s) declaring modifications thereof recorded October 6, 1994 as Instrument No. 12678658 in Book N624, Page 1997 of Official Records. Document(s) declaring modifications thereof recorded October 12, 1994 as Instrument No. 12683493 in Book N629, Page 1503 of Official Records. 5. The terms and provisions contained in the document entitled "Agreement" recorded April 1, 1970 in Book 8876, Page 358 of Official Records. 6. An easement for underground and above ground pipes and electrical conductors and necessary appurtenances thereto and incidental purposes, recorded January 4, 1971 in Book 9177, Page 66 of Official Records. In Favor of: Affects: Pacific Gas and Electric Company, a California corporation As described therein 7. Terms and provisions of an unrecorded lease dated April 24, 1973, by and between Atherton Industries as lessor and Ichiro Merita ancl Theodore H. Wolfam et ux as lessee, as disclosed by a Assignments of Leases recorded May 28, 1974 as Instrument No. 4774110 in Book 0915, Page 153 of Official Records. Defects, liens, encumbrances or other m,1tters affecting the leasehold estate, whether or not shown by the public records. 8. Terms and provisions of an unrecorded lease dated July 16, 1975, by and between Sutter Hill Limited, a California corporation as lessor and Lynn Whitaker and Richard Carrillo as lessee, as disclosed by an Assignment of Lessor's Interest in Leases recorded July 21, 1975 as Series No. 5051752 of Official Records. Defects, liens, encumbrances or other mc1tters affecting the leasehold estate, whether or not shown by the public records. 9. Any defects, liens, encumbrances or othe · matters which name parties with the same or similar names as Linda Orr (1 matter). The name search necessary to ascertain the existence of such matters has not been completed. In orde•r to complete this preliminary report or commitment, we will require a statement of information. 10. Rights of parties in possession. First American Title Insurance Company INFORMJlTIONAL NOTES Order Number: NCS-406672-SAC4 Page Number: 4 1. According to the latest available equalized assessment roll in the office of the county tax assessor, there is located on the land a(n) Commercial Structure known as 816-842 West Hamilton Avenue, campbell, California. 2. General and special taxes and assessments for the fiscal year 2008-2009. First Installment: $6,145.22, PAID Penalty: $0.00 Second Installment: $6,145.22, PAID Penalty: $0.00 Tax Rate Area: 10-003 A. P. No.: 307-40-040 3. According to the public records, there has been no conveyance of the land within a period of twenty four months prior to the date of this report, except as follows: A document recorded January 10, 2008 as I nstrument No. 19706913 of Official Records. From: Raymoncl V. Castello, as successor Trustee of the Castello Survivor's Trust established under the Castello Family Trust dated July 17, 1997, as to an undivided 32.58% interest To: Raymoncl V. Castello, as Trustee of the Castello Survivor's Exempt Trust for the benefit of Linda M. Orr, established under the Castello Family Trust dated July 17, 1997; 1/3rd of grantor's undivided 32.58% interest (or an undivided 10.86% interest in the whole); Raymonc V. Castello, as Trustee of the Castello Survivor's Exempt Trust for the benefit of Raymond V. Castello, established under the Castello Family Trust dated July 17, 1997, 1/3rd of grantor's undivided 32.58% interest (or an undivided 10.86% interest in the whole); Raymond V. Castello, as Trustee of the Castello Survivor's Exempt Trust for the benefit of Eileen J. Marino, established under the Castello Family Trust dat,ad July 17, 1997, 1/3rd of grantor's undivided 32.58% interest (or an undivided 10.86% interest in the whole 4. Should this report be used to facilitate your transaction, we must be provided with the following prior to the issuance of the policy: A. WITH RESPECT TO A CORPORATION: a. A certificate of good standing of recent dat e issued by the Secretary of State of the corporation's state of domicile. First American Title Insurance Company Order Number: NCS-406672-SAC4 Page Number: 5 b. A certificate copy of a resolution of the Board of Directors authorizing the contemplated transaction and designating which corporate officers shall have the power to execute on behalf of the corporation. c. Requirements which the Company may impose following its review of the above material and other information which the Company may require. B. WITH RESPECT TO A CALIFORNIA UMITED PARTNERSHIP: a. A certified copy of the certificate of limited partnership (form LP-1) and any amendments thereto (form LP-2) to be recorded in the public records; b. A full copy of the partnership agreement and any amendments; c. Satisfactory evidence of the con!,ent of a majority in interest of the limited partners to the contemplated transaction; d. Requirements which the Company may impose following its review of the above material and other information which the Company may require. C. WITH RESPECT TO A FOREIGN LIMITED PARTNERSHIP: a. A certified copy of the applicatio1 for registration, foreign limited partnership (form LP-5) and any amendments thereto (form LP-6) to be recorded in the public records; b. A full copy of the partnership agi-eement and any amendment; c. Satisfactory evidence of the consent of a majority in interest of the limited partners to the contemplated transaction; d. Requirements which the Company may impose following its review of the above material and other information which the Company may require. D. WITH RESPECT TO A GENERAL PARTNERSHIP: a. A certified copy of a statement of partnership authority pursuant to Section 16303 of the California Corporation Code (form GP-I), executed by at least two partners, and a certified copy of any amendment·s to such statement (form GP-7), to be recorded in the public records; b. A full copy of the partnership agreement and any amendments; c. Requirements which the Company may impose following its review of the above material required herein and other information which the Company may require. E. WITH RESPECT TO A LIMITED LIABI _ITY COMPANY: a. A copy of its operating agreement and any amendments thereto; A'rst American Title Insurance Company Order Number: NCS-406672-SAC4 Page Number: 6 b. If it is a California limited liability company, a certified copy of its articles of organization (LLC-1) and any certificate of correction (LLC-11), certificate of amendment (LLC-2), or restatement of articles of organization (LLC-10) to be recorded in the public records; c. If it is a foreign limited liability company, a certified copy of its application for registration (LLC-5) to be recorc1ed in the public records; d. With respect to any deed, deed of trust, lease, subordination agreement or other document or instrument executed by such limited liability company and presented for recordation by the Company or Jpon which the Company is asked to rely, such document or instrument must be executed in accordance with one of the following, as appropriate: (i) If the limited liability company properly operates through officers appointed or elected pursuant to the terms of a written operating agreement, such documents must be executed by at lea~t two duly elected or appointed officers, as follows: the chairman of the board, the president or any vice president, and any secretary, assistant secretary, the chief financial officer or any assistant treasurer; (ii) If the limited liability company properly operates through a manager or managers identified in the articles of organization and/or duly elected pursuant to the terms of a written operating agreement, such document must be executed by at least two such managers or by one manager if the limited liability company properly operates with the existence of only one manager. e. Requirements which the Company may impose following its review of the above material and other information which the Company may require. F. WITH RESPECT TO A TRUST: a. A certification pursuant to Section 18500.5 of the California Probate Code in a form satisfactory to the Company. b. Copies of those excerpts from the original trust documents and amendments thereto which designate the trustee and confer upon the trustee the power to act in the pending transaction. c. Other requirements which the Company may impose following its review of the material require herein and other information which the Company may require. G. WITH RESPECT TO INDIVIDUALS: a. A statement of information. The map attached, if any, may or may not be a survey of the land depicted hereon. First American Title Insurance Company expressly disclaims any liability for loss or damage which may result from reliance on this map except to the extent coverage for such loss or damage is expressly provided by the terms and provisions of the title insurance policy, if any, to which this map is attached. Arst American Title Insurance Company LEGAL !DESCRIPTION Order Number: NCS-406672-SAC4 Page Number: 7 Real property in the City of Campbell, County of Santa Clara, State of California, described as follows: PARCEL A, AS SHOWN ON THAT CERTAI N PARCEL MAP RECORDED NOVEMBER 25, 1974 IN BOOK 349 OF MAPS, PAGE 8, SANTA CLJ\RA COUNTY RECORDS. APN: 307-40-040 First American Title Insurance Company NOTICE I Order Number: NCS-406672-SAC4 Page Number: 8 Section 12413.1 of the California Insurance Code, effective January 1, 1990, requires that any title insurance company, underwritten title company, or controlled escrow company handling funds in an escrow or sub-escrow capacity, wait a specified number of days after depositing funds, before recording any documents in connection with the transaction or disbursing funds. This statute allows for funds deposited by wire transfer to be disbursed the same day as deposit. In the case of cashier's checks or certified checks, funds may be disbursed the next day after deposit. In order to avoid unnecessary delays of three to seven days, or more, please use wire transfer, cashier's checks, or certified checks whenever possible. If you have any questions about the effect of this new law, please contact your local First American Office for more details. l'IOTICEII As of January 1, 1991, if the transaction which is the subject of this report will be a sale, you as a party to the transaction, may have certain tax reporting and withholding obligations pursuant to the state law referred to below: In accordance with Sections 18662 and 18668 of the Revenue and Tax.1tion Code, a buyer may be required to withhold an amount equal to three and one-third percent of the sales price in the case of the disposition of Cal fornia real property interest by either: 1. A seller who is an individual with a last known street addres:; outside of California or when the disbursement instructions authorize the proceeds be sent to a financial intermediary of the seller, OF. 2. A corporate seller which has no permanent place of business in California. The buyer may become subject to penalty for failure to withhold an amount equal to the greater of 10 percent of the amount required to be withheld or five hundred dollars ($500). However, notwithstanding any other provision included in the californic statutes referenced above, no buyer will be required to withhold any amount or be subject to penalty for failure to withhold if: 1. The sales price of the California real property conveyed doei not exceed one hundred thousand dollars ($100,000), OR 2. The seller executes a written certificate, under the penalty of perjury, certifying that the seller is a resident of California, or if a corporation, has a permanent place of business in California, OR 3. The seller, who is an individual, executes a written certificatEi, under the penalty of perjury, that the california real property being conveyed is the seller's principal residence (as defined in Section 1034 of the Internal Revenue Code). The seller is subject to penalty for knowingly filing a fraudulent certificate for the purpose of avoiding the withholding requirement. The California statutes referenced above include provisions which authorize the Franchise Tax Board to grant reduced withholding and waivers from withholding on a case-by-case basis. The parties to this transaction should seek an attorney's, accountant's, or other tax specialist's opinion concerning the effect of this law on this transaction and should not act on any statements made or omitted by tfie escrow or closing officer. The Seller May Request a Waiver by Contacting: Franchise Tax Board Withhold at Source Unit P.O. Box 651 Sacramento, CA 95812-0651 (916) 845-4900 First American Title Insurance Company Privacy Policy We Are Committed to Safeguarding Customer I nformation Order Number: NCS-406672-SAC4 Page Number: 9 In order to better serve your needs now and in tile future, we may ask you to provide us with certain information. We understand that you may be concerned about what we will do with such information - particularly any personal or financial information. We agree that you have a right to know how we will utilize the personal information you provide to us. Therefore, together with our parent company, The First American Corporation, we have adopted thi~. Privacy Policy to govern the use and handling of your personal information. Applicability This Privacy Policy governs our use of the information which you provide to us. It does not govern the manner in which we may use information we have obtained from any ot her source, such as information obtained from a public record or from another person or entity. First American has also adopted broader guidelines that govern our use of personal information regardless of its source. First American calls these guidelines its Fair Information Values, a copy of which can be found on our website at www.firstam.com. Types of Information Depending upon which of our services you are utilizing, the types of nonpublic personal information that we may collect include: • Information we receive from you on applications, forms and in other communications to us, whether in writing, in person, by telephone or any other means; • Information about your transactions with us, our affiliated companies, or others; and • Information we receive from a consumer reporting agency. Use of Information We request information from you for our own leg itimate business purposes and not for the benefit of any nonaffiliated party. Therefore, we will not release your information to nonaffiliated parties except: (1) as necessary for us to provide the product or service you have requested of us; or (2) as permitted by law. We may, however, store such information indefin tely, including the period after which any customer relationship has ceased. Such information may b1~ used for any internal purpose, such as quality control efforts or customer analysis. We may also provide all of the types of nonpublic personal information listed above to one or more of our affiliated companies. Such affiliated companies include financial service providers, such as title insurers, property and casualty insurers, and trust and investment advisory companies, or companies involved in real estate services, such as appraisal companies, home warranty companies, and escrow companies. Furthermore, we may also provide all the information we collect, as described above, to companies that perform marketing services on our behalf, on behalf of our affiliated companies, or to other financial institutions with whom we or our affiliated companies have joint marketing agreements. Former Customers Even if you are no longer our customer, our Privacy Policy will continue to apply to you. Confidentiality and Security We will use our best efforts to ensure that no unauthorized parties have access to any of your information. We restrict access to nonpublic personal information about you to those individuals and entities who need to know that information to provide products or services to you. We will use our best efforts to train and oversee our employees and a9ents to ensure that your information will be handled responsibly and in accordance with this Privacy Pc licy and First American's Fair Information Values. We currently maintain physical, electronic, and procedural safeguards that comply with federal regulations to guard your nonpublic personal information. First American Tlt/e Insurance Company EXHIBIT A Order Number: NCS-406672-SAC4 Page Number: 10 LIST OF PRINTED EXCEPTIONS AND EXCLUSIONS (BY POLICY TYPE) 1. CALIFORNIA LAND TITLE ASSOCIATION STANDARD COVERAGE POLICY -1990 SCHEDULE B EXCEPTIOI\IS FROM COVERAGE This policy does not insure against loss or damage (and the Company will not pay costs, attorneys' fees or expenses) which arise by reason of: 1. Taxes or assessments which are not shown as existing liens by the records of any taxing authority that levies taxes or assessments on real property or by the public records. Proceedings by a public agency which may result in taxes or assessments, or notice of such proceedings, whether or not shown by the records of such agency or by the public records. 2. Any facts, rights, interests, or claims which are not shown b:1 the public records but which could be ascertained by an inspection of the land or which may be asserted by persons in possession thereof. 3. Easements, liens or encumbrances, or claims thereof, which are not shown by the public records. 4. Discrepancies, conflicts in boundary lines, shortage in area, encroachments, or any other facts which a correct survey would disclose, and which are not shown by the public records. 5. (a) Unpatented mining claims; (b) reservations or exceptioni; in patents or in Acts authorizing the issuance thereof; (c) water rights, claims or title to water, whether or not the matters excepted under (a), (b), or (c) are shown by the public records. EXCLUSIONS FROM COVERAGE 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 expenses which arise by reason of: 1. (a) Any law, ordinance or governmental regulation (includin£ but not limited to building and zoning laws, ordinances, or regulations) restricting, regulating, prohibiting or relating to (i) the occupancy, use, or enjoyment of the land; (ii) the character, dimensions or location of any improvement now or hereafter erected on the land; (iii) a separation in ownership or a change in the dimensions or area of the land or any parcel of which the land is or was a part; or (iv) environmental protection, or the effect of any violation of these laws, ordinances or governmental regulations, except to the extent that a notice of the enforcement thereof or a notice of a defect, lien or encumbrance resulting from a violation or alleged violation affecting the land has been recorded in the public records at Date of Policy. (b) Any governmental police power not excluded by (a) abo·,e, except to the extent that a notice of the exercise thereof or a notice of a defect, lien or encumbrance resulting from a violation or all~1ed violation affecting the land has been recorded in the public records at Date of Policy. 2. Rights of eminent domain unless notice of the exercise thereof has been recorded in the public records at Date of Policy, but not excluding from coverage any taking which has occurred prior to Date of Policy which would be binding on the rights of a purchaser for value without knowledge. 3. Defects, liens, encumbrances, adverse claims or other matters: (a) whether or not recorded in the public records at Date of Policy, but created, suffered, assumed or agreed to by the insured claimant; (b) not known to the Company, not recorded in the public re:cords at Date of Policy, but known to the insured claimant and not disclosed in writing to the Company by the insured claimant prior to the elate the insured claimant became an insured under this policy; (c) resulting in no loss or damage to the insured claimant; ( d) attaching or created subsequent to Date of Policy; or (e) resulting in loss or damage which would not have been ~ustained if the insured claimant had paid value for the insured mortgage or for the estate or interest insured by this policy. 4. Unenforceability of the lien of the insured mortgage because of the inability or failure of the insured at Date of Policy, or the inability or failure of any subsequent owner of the indebtedness, to comoly with applicable "doing business" laws of the state in which the land is situated. 5. Invalidity or unenforceability of the lien of the insured mortg,1ge, or claim thereof, which arises out of the transaction evidenced by the insured mortgage and is based upon usury or any consumer •:redit protection or truth in lending law, 6. Any claim, which arises out of the transaction vesting in the insured the estate or interest insured by their policy or the transaction creating the interest of the insured lender, by reason of the operation of federal bankruptcy, state insolvency or similar creditors' rights laws. 2. AMERICAN LAND TITLE ASSOCIATION OWNER'S POLICY FORM B -1970 SCHEDULE OF EXCLUSIONS FROM COVERAGE I. Any law, ordinance or governmental regulation (including but not limited to building and zoning ordinances) restricting or regulating or prohibiting the occupancy, use or enjoyment of the land, or r,~gulating the character, dimensions or location of any improvement now or hereafter erected on the land, or prohibiting a separation in cwnership or a reduction in the dimensions of area of the land, or the effect of any violation of any such law, ordinance or governmental regulation. 2. Rights of eminent domain or governmental rights of police power unless notice of the exercise of such rights appears in the public records at Date of Policy. J. Defects, liens, encumbrances, adverse claims, or other matters (a) created, suffered, assumed or agreed to by the insured claimant; (b) not known to the Company and not shown by the public records but known to the insured claimant either at Date of Policy or at the date such claimant acquired an estate or interest insured by this policy and not disclosed in writing by the insured claimant to the Company prior to the date such insured claimant became an insured hereunder; ( c) resulting in no loss or damage to the insured claimant; ( d) attaching or Hrst American Title Insurance Company Order Number: NCS-406672-SAC4 Page Number: 11 created subsequent to Date of Policy; or (e) resulting in loss or damage which would not have been sustained if the insured claimant had paid value for the estate or interest insured by this policy. 3. AMERICAN LAND TITLE ASSOC:IATION OWNER'S POLICY FORM B -1970 WITH REGJ:ONAL EXCEPTIONS When the American Land Title Association policy is used as a Standard Coverage Policy and not as an Extended Coverage Policy the exclusions set forth in paragraph 2 above are used and the following exceptions to coverage appear in the policy. SC:HEDULE B This policy does not insure against loss or damage by reason of the matters shown in parts one and two following: Part One I. 2. 3. 4. 5. 6. Taxes or assessments which are not shown as existing liens by the records of any taxing authority that levies taxes or assessments on real property or by the public records. Any facts, rights, interests, or claims which are not shown by the public records but which could be ascertained by an inspection of said land or by making inquiry of persons in possession thereof. Easements, claims of easement or encumbrances which are not shown by the public records. Discrepancies, conflicts in boundary lines, shortage in area, encroachments, or any other facts which a correct survey would disclose, and which are not shown by public records. Unpatented mining claims; reservations or exceptions in patents or in Acts authorizing the issuance thereof; water rights, claims or title to water. Any lien, or right to a lien, for services, labor or material her,,tofore or herealter furnished, imposed by law and not shown by the public records. 4. AMERICAN LAND TITLE JISSOCIATION LOAN POLICY -1970 WITH A.LT.A. ENDORSEMENT FORM 1 COVERAGE SCHEDULE OF EXCI.USIONS FROM COVERAGE I. Any law, ordinance or governmental regulation (including but not limited to building and zoning ordinances) restricting or regulating or prohibiting the occupancy, use or enjoyment of the land, or regulating the character, dimensions or location of any improvement now or herea~er erected on the land, or prohibiting a separation in ownership or a reduction in the dimensions or area of the land, or the effect of any violation of any such law ordinance or governmental reg Jlation. 2. Rights of eminent domain or governmental rights of police power unless notice of the exercise of such rights appears in the public records at Date of Policy. 3. Defects, liens, encumbrances, adverse claims, or other matt€•rs (a) created, suffered, assumed or agreed to by the insured claimant, (b) not known to the Company and not shown by the public records but known to the insured claimant either at Date of Policy or at the date such claimant acquired an estate or interest insured by this policy or acquired the insured mortgage and not disclosed in writing by the insured claimant to the Company prior to the date such insured claimant became an insured hereunder, ( c) resulting in no loss or damage to the insured claimant; ( d) attaching or created subsequent to Date of Policy ( except to the extent insurance is afforded herein as to any statutory lien for labor or material or to the extent insurance is afforded herein as to assessments for street improvements under construction or completed at Date of Policy). 4. Unenforceability of the lien of the insured mortgage because of failure of the insured at Date of Policy or of any subsequent owner of the indebtedness to comply with applicable "doing business" law!; of the state in which the land is situated. 5. AMERICAN LAND TITLE ASSOCIATION LOAN POLICY -1970 WITH REGI<:>NAL EXCEPTIONS When the American Land Title Association Lenders Policy is used as a 51 andard Coverage Policy and not as an Extended Coverage Policy, the exclusions set forth in paragraph 4 above are used and the following exceptions to coverage appear in the policy. SCIHEDULE B This policy does not insure against loss or damage by reason of the matters shown in parts one and two following: Part One I. 2. 3. 4. 5. 6. Taxes or assessments which are not shown as existing liens by the records of any taxing authority that levies taxes or assessments on real property or by the public records. Any facts, rights, interests, or claims which are not shown by the public records but which could be ascertained by an inspection of said land or by making inquiry of persons in possession thereof. Easements, claims of easement or encumbrances which are rot shown by the public records. Discrepancies, conflicts in boundary lines, shortage in area, e ,croachments, or any other facts which a correct survey would disclose, and which are not shown by public records. Unpatented mining claims; reservations or exceptions in pate 1ts or in Acts authorizing the issuance thereof; water rights, claims or title to water. Any lien, or right to a lien, for services, labor or material themtofore or hereafter furnished, imposed by law and not shown by the public records. First American Title Insurance Company Order Number: NCS-406672-SAC4 Page Number: 12 6. AMERICAN LAND TITLE ASSOCIATION LOAN POLICY -1992 WITH A.LT.A. ENDORSEMENT FORM 1 COVERAGE EXCLUSIONIS FROM COVERAGE 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 expenses which arise by reason of: I. (a) Any law, ordinance or governmental regulation (includin11 but not limited to building and zoning laws, ordinances, or regulations) restricting, regulating, prohibiting or relating to (i) the occupancy, use, or enjoyment of the land; (ii) the character, dimensions or location of any improvement now or hereafter erected on the land; (iii) a separation in ownership or a change in the dimensions or area of the land or any parcel of which the land is or was a part; or (iv) environ mental protection, or the effect of any violation of these laws, ordinances or governmental regulations, except to the extent that a notice of the enforcement thereof or a notice of a defect, lien or encumbrance resulting from a violation or alleged violation affecting the land has been recorded in the public records at Date of Policy; (b) Any governmental police power not excluded by (a) above, except to the extent that a notice of the exercise thereof or a notice of a defect, lien or encumbrance resulting from a violation or alleged violation affecting the land has been recorded in the public records at Date of Policy. 2. Rights of eminent domain unless notice of the exercise thereof has been recorded in the public records at Date of Policy, but not excluding from coverage any taking which has occurred prior to Date c,f Policy which would be binding on the rights of a purchaser for value without knowledge. 3. Defects, liens, encumbrances, adverse claims, or other matters: (a) whether or not recorded in the public records at Date of Policy, but created, suffered, assumed or agreed to by the insured claimant; (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 writing to the Company by the insured claimant prior to the date the insured claimant became an insured under this policy; ( c) resulting in no loss or damage to the insured claimant; (d) attaching or created subsequent to Date of Policy (except to the extent that this policy insures the priority of the lien of the insured mortgage over any statutory lien for services, labor or material or the extent insurance is afforded herein as to assessments for street improvements under construction or completed at date of policy); or (e) resulting in loss or damage which would not have been sustained if the insured claimant had paid value for the insured mortgage. 4. Unenforceability of the lien of the insured mortgage because of the inability or failure of the insured at Date of Policy, or the inability or failure of any subsequent owner of the indebtedness, to corr ply with the applicable "doing business" laws of the state in which the land is situated. 5. Invalidity or unenforceability of the lien of the insured mortgage, or claim thereof, which arises out of the transaction evidenced by the insured mortgage and is based upon usury or any consumer credit protection or truth in lending law. 6. Any statutory lien for services, labor or materials ( or the claim of priority of any statutory lien for services, labor or materials over the lien of the insured mortgage) arising from an improvement or work related to the land which is contracted for and commenced subsequent to Date of Policy and is not financed in whole or in part by proceeds of the indebtedness secured by the insured mortgage which at Date of Policy the insured has advanced or is obligated to advance. 7. Any claim, which arises out of the transaction creating the interest of the mortgagee insured by this policy, by reason of the operation of federal bankruptcy, state insolvency, or similar creditors' rigl'ts laws, that is based on: (i) the transaction creating the interest of the insured mortgagee being deemed a fraudulent conveyance or fraudulent transfer; or (ii) the subordination of the interest of the insured mortgagee as a result of the application of the doctrine of equitable subordination; or (iii) the transaction creating the interest of the insured mort~1agee being deemed a preferential transfer except where the preferential transfer results from the failure: (a) to timely record the instrument of transfer; or (b) of such recordation to impart notice to a purchaser for v, lue or a judgment or lien creditor. 7. AMERICAN LAND TITLE J1SSOCIATION LOAN POLICY -1992 WITH REGIONAL EXCEPTIONS When the American Land Title Association policy is used as a Standard Coverage Policy and not as an Extended Coverage Policy the exclusions set forth in paragraph 6 above are used and the following exceptions to coverage appear in the policy. SCHEDULE B This policy does not insure against loss or damage (and the Company~ ill not pay costs, attorneys' fees or expenses) which arise by reason of: 1. Taxes or assessments which are not shown as existing liens by the records of any taxing authority that levies taxes or assessments on real property or by the public records. 2. Any facts, rights, interests, or claims which are not shown b~ the public records but which could be ascertained by an inspection of said land or by making inquiry of persons in possession thereof. 3. Easements, claims of easement or encumbrances which are not shown by the public records. 4. Discrepancies, conflicts in boundary lines, shortage in area, encroachments, or any other facts which a correct survey would disclose, and which are not shown by public records. 5. Unpatented mining claims; reservations or exceptions in patents or in Acts authorizing the issuance thereof; water rights, claims or title to water. 6. Any lien, or right to a lien, for services, labor or material theretofore or hereafter furnished, imposed by law and not shown by the public records. 8. AMERICAN LAND TITLE AS!,OCIATION OWNER'S POLICY -1992 First American 7itle Insurance Company EXCLUSIOt\lS FROM COVERAGE Order Number: NCS-406672-SAC4 Page Number: 13 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 expenses which arise by reason of: I. (a) Any law, ordinance or governmental regulation (includin11 but not limited to building and zoning laws, ordinances, or regulations) restricting, regulating, prohibiting or relating to (i) the occu~ancy, use, or enjoyment of the land; (ii) the character, dimensions or location of any improvement now or hereafter erected on the land; (iii) a separation in ownership or a change in the dimensions or area of the land or any parcel of which the land is or was a part; or (iv) environmental protection, or the effect of any violation of these laws, ordinances or governmental regulations, except to the extent that a notice of the enforcement thereof or a notice of a defect, lien or encumbrance resulting from a violation or alleged violation affecting the land has been recorded in the public records at Date of Policy. (b) Any governmental police power not excluded by (a) above, except to the extent that a notice of the exercise thereof or a notice of a defect, lien or encumbrance resulting from a violation or alleged violation affecting the land has been recorded in the public records at Date of Policy. 2. Rights of eminent domain unless notice of the exercise therEOf has been recorded in the public records at Date of Policy, but not excluding from coverage any taking which has occurred prior to Date of Policy which would be binding on the rights of a purchaser for value without knowledge. 3. Defects, liens, encumbrances, adverse claims, or other matters: (a) created, suffered, assumed or agreed to by the insured claimant; (b) not known to the Company, not recorded in the public re cords at Date of Policy, but known to the insured claimant and not disclosed in writing to the Company by the insured claimant prior to the jate the insured claimant became an insured under this policy; ( c) resulting in no loss or damage to the insured claimant; (d) attaching or created subsequent to Date of Policy; or (e) resulting in loss or damage which would not have been sustained if the insured claimant had paid value for the estate or interest insured by this policy. 4. Any claim, which arises out of the transaction vesting in the insured the estate or interest insured by this policy, by reason of the operation of federal bankruptcy, state insolvency, or similar creditors' rights laws, that is based on: (i) the transaction creating the estate or interest insured by ·:his policy being deemed a fraudulent conveyance or fraudulent transfer; or (ii) the transaction creating the estate or interest insured by this policy being deemed a preferential transfer except where the preferential transfer results from the failure: (a) to timely record the instrument of transfer; or (b) of such recordation to impart notice to a purchaser for value or a judgment or lien creditor. 9. AMERICAN LAND TITLE ASSOCIATION OWNER'S POLICY -1992 WITH REGIONAL EXCEPTIONS When the American Land Title Association policy is used as a Standard Coverage Policy and not as an Extended Coverage Policy the exclusions set forth in paragraph 8 above are used and the following exceptions to coverag-= appear in the policy. SCHEDULE B This policy does not insure against loss or damage (and the Company will not pay costs, attorneys' fees or expenses) which arise by reason of: Part One: I. 2. 3. 4. 5. 6. Taxes or assessments which are not shown as existing liens JY the records of any taxing authority that levies taxes or assessments on real property or by the public records. Any facts, rights, interests, or claims which are not shown b1 the public records but which could be ascertained by an inspection of said land or by making inquiry of persons in possession thereof. Easements, claims of easement or encumbrances which are not shown by the public records. Discrepancies, conflicts in boundary lines, shortage in area, mcroachments, or any other facts which a correct survey would disclose, and which are not shown by public records. Unpatented mining claims; reservations or exceptions in patents or in Acts authorizing the issuance thereof; water rights, claims or title to water. Any lien, or right to a lien, for services, labor or material theretofore or hereafter furnished, imposed by law and not shown by the public records. 10. AMERICAN LAND TITLE ASSOCIATION RESIDENTIAL TITLE INSURANCE POLICY -1987 EX•CLUSIONS In addition to the Exceptions in Schedule B, you are not insured against loss, costs, attorneys' fees and expenses resulting from: 1. 2. Governmental police power, and the existence or violation of any law or government regulation. This includes building and zoning ordinances and also laws and regulations concerning: * land use * land division * improvements on the land * environmental protection This exclusion does not apply to violations or the enforcemer t of these matters which appear in the public records at Policy Date. This exclusion does not limit the zoning coverage described 111 items 12 and 13 of Covered Title Risks. The rioht to take the land by condemnlno it, unless: First American 7itle Insurance Company * a notice of exercising the right appears in the public records on the Policy Date Order Number: NCS-406672-SAC4 Page Number: 14 * the taking happened prior to the Policy Date and is bindinq on you if you bought the land without knowing of the taking. 3. Title Risks: * that are created, allowed, or agreed to by you * that are known to you, but not to us, on the Policy Date -unless they appeared in the public records * that result in no loss to you * 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 4. Failure to pay value for your title. 5. Lack of a right: * to any land outside the area specifically described and referred to in Item 3 of Schedule A, or * in streets, alleys, or waterways that touch your land This exclusion does not limit the access coverage in Item 5 of Covered Title Risks. 11. EAGLE PROTl:CTION OWNER'S POLICY CLTA HOMEOWNER'S POI.ICY OF TITLE INSURANCE• 1998 AL TA HOMEOWNER'S POI.ICY OF TITLE INSURANCE -1998 Covered Risks 14 (Subdivision Law Violation). 15 (Building Permit). 16 (Zoning) and 18 (Encroachment of boundary walls or fences) arc subject to Deductible Amounts and Maximum Dollar Limits of Liability EXCLUSIONS In addition to the Exceptions in Schedule B, you are not insured agains, loss, costs, attorneys' fees, and expenses resulting from: 1. 2. 3. 4. 5. 6. Governmental police power, and the existence or violation o·' any law or government regulation. This includes ordinances, laws and regulations concerning: a. building c. land use e. land division b. zoning d. improvements on the land f. environmental protection This exclusion does not apply to violations or the enforcement of these matters if notice of the violation or enforcement appears in the Public Records at the Policy Date. This exclusion does not limit the coverage described in Cove·ed Risk 14, 15, 16, 17 or 24. The failure of Your existing structures, or any part of them, to be constructed in accordance with applicable building codes. This Exclusion does not apply to violations of building codes if notice of the violation appears in the Public Records at the Policy Date. The right to take the Land by condemning it, unless: a. a notice of exercising the right appears in the Public Records at the Policy Date; or b. the taking happened before the Policy Date and is binding on You if You bought the Land without Knowing of the taking. Risks: a. that are created, allowed, or agreed to by You, whether o· not they appear in the Public Records; h. that are Known to You at the Policy Date, but not to Us, unless they appear in the Public Records at the Policy Date; c. that result in no loss to You; or d. that first occur after the Policy Date -this does not limit the coverage described in Covered Risk 7, 8.d, 22, 23, 24 or 25. Failure to pay value for Your ntle. Lack of a right: a. to any Land outside the area specifically described and referred to in paragraph 3 of Schedule A; and b. in streets, alleys, or waterways that touch the Land. This exclusion does not limit the coverage described in Covered Risk 11 or 18. 12. AMERICAN LAND TITLE ASSOCIATION LOAN POLCCY -1992 WITH A.L.T.A. ENDORSEMENT FORM 1 COVERAGE WITH EAGLE PROTECTION ADDED EXCLUSIONS FROM COVERAGE 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 expenses which arise by reason of: I. (a) Any law, ordinance or governmental regulation (including but not limited to building and zoning laws, ordinances, or regulations) restricting, regulating, prohibiting or relating to (i) the occupancy, use, or enjoyment of the Land; (ii) the character, dimensions or location of any improvement now or hereafter erected on the Land; ( ii) a separation In ownership or a change in the dimensions or area of the Land or any parcel of which the Land is or was a part; or (iv) environmental protection, or the effect of any violation of these laws, ordinances or governmental regulations, except to the extent that a notice of the enforcement thereof or a notice of a defect, lien or encumbrance resulting from a violation or alleged violation affecting the Land has been recorded in the Public Records at Date of Policy. This exclusion does not limit the coverage provided under insuring provisiors 14, 15, 16 and 24 of this policy. (b) Any governmental police power not excluded by (a) above, except to the extent that a notice of the exercise thereof or a notice of a First American Title Insurance Company Order Number: NCS-406672-SAC4 Page Number: 15 defect, lien or encumbrance resulting from a violation or alleged violation affecting the land has been recorded in the Public Records at Date of Policy. This exclusion does not limit the coverage provided under insuring provisions 14, 15, 16 and 24 of this policy. 2. Rights of eminent domain unless notice of the exercise thereof has been recorded in the Public Records at Date of Policy, but not excluding from coverage any taking which has occurred prior to Date of Policy which would be binding on the rights of a purchaser for value without Knowledge. 3. Defects, liens, encumbrances, adverse claims or other matters: (a) created, suffered, assumed or agreed to by the Insured Claimant; (b) not known to the Company, not recorded in the Public R ~cords at Date of Policy, but Known to the Insured Claimant and not disclosed in writing to the Company by the I nsured Claimant prior to the date the Insured Claimant became an Insured under this policy; ( c) resulting in no loss or damage to the Insured Claimant; (d) attaching or created subsequent to Date of Policy (this paragraph (d) does not limit the coverage provided under insuring provisions 7, 8, 16, 17, 19, 20, 21, 23, 24 and 25); or (e) resulting in loss or damage which would not have been rnstained if the Insured Claimant had paid value for the Insured Mortgage. 4. Unenforceability of the lien of the Insured Mortgage becaus11 of the inability or failure of the Insured at Date of Policy, or the inability or failure of any subsequent owner of the indebtedness, to con1ply with applicable doing business laws of the state in which the Land is situated. 5. Invalidity or unenforceability of the lien of the Insured Mort~ age, or claim thereof, which arises out of the transaction evidenced by the Insured Mortgage and is based upon: (a) usury, except as provided under insuring provision 10 of this policy; or (b) any consumer credit protection or truth in lending law. 6. Taxes or assessments of any taxing or assessment authority which become a lien on the Land subsequent to Date of Policy. 7. Any claim, which arises out of the transaction creating the interest of the mortgagee insured by this policy, by reason of the operation of federal bankruptcy, state insolvency, or similar creditors' rights laws, that is based on: (a) the transaction creating the interest of the insured mort~ agee being deemed a fraudulent conveyance or fraudulent transfer; or (b) the subordination of the interest of the insured mortgagee as a result of the application of the doctrine of equitable subordination; or (c) the transaction creating the interest of the insured mortc;;agee being deemed a preferential transfer except where the preferential transfer results from the failure: (i) to timely record the instrument of transfer; or (ii) of such recordation to impart notice to a purchaser for v,1lue or a judgment or lien creditor. 8. Any claim of invalidity, unenforceability or lack of priority of •he lien of the Insured Mortgage as to advances or modifications made after the Insured has Knowledge that the vestee shown in Schedule /l is no longer the owner of the estate or interest covered by this policy. This exclusion does not limit the coverage provided under insurin~ provision 7. 9. Lack of priority of the lien of the Insured Mortgage as to each and every advance made after Date of Policy, and all interest charged thereon, over liens, encumbrances and other matters affecti11g title, the existence of which are Known to the Insured at: (a) The time of the advance; or (b) The time a modification is made to the terms of the Insured Mortgage which changes the rate of interest charged, if the rate of interest is greater as a result of the modification than it would havl! been before the modification. This exclusion does not limit the coverage provided under in ;uring provision 7. SCHEDULE B This policy does not insure against loss or damage (and the Company v,ill not pay costs, attorneys' fees or expenses) which arise by reason of: I. Environmental protection liens provided for by the following existing statutes, which liens will have priority over the lien of the Insured Mortgage when they arise: NONE. 11. EAGLE PROTf:CTION OWNER'S POUCY CL TA HOMEOWNER'S POI.ICY OF TITLE INSURANCE -2008 AL TA HOMEOWNER'S POI.ICY OF TITLE INSURANCE • 2008 Covered Risks 16 (Subdivision Law Violation). 18 (Building Permit). 19 (Zoning) and 21 (Encroachment of boundary walls or fences) are subject to Deductible Amounts and Maximum Dollar Limits of Liability EXCLUSIONS In addition to the Exceptions in Schedule 8, You are not insured agains ,: loss, costs, attorneys' fees, and expenses resulting from: 1. Governmental police power, and the existence or violation of those portions of any law or government regulation concerning: a. building b. zoning c. land use d. improvements on the land e. land division f. environmental protection This Exclusion does not limit the coverage described in Covered Risk 8.a., 14, 15, 16, 18, 19, 20, 23 or 27. 2. The failure of Your existing structures, or any part of the'Tl, to be constructed in accordance with applicable building codes. This Exclusion does not limit the coverage described in Coven!d Risk 14 or 15. 3. The right to take the Land by condemning it. This Exclus on does not limit the coverage described in Covered Risk 17. 4. Risks: a. that are created, allowed, or agreed to by You, whether or not they are recorded in the Public Records; Arst American T/tle Insurance Company I Order Number: NCS-406672-SAC4 Page Number: 16 b. that are Known to You at the Policy Date, but not to Us, unless they are recorded in the Public Records at the policy Date; c. that result in no loss to You; or d. that first occur after the Policy Date -this does not limit the coverage described in Covered Risk 7, 8.e., 25, 26, 27 or 28. 5. Failure to pay value for Your Title. 6. Lack of a right: a. to any land outside the area specifically described and referred to in paragraph 3 of Schedule A; and b. in streets, alleys, or waterways that touch the Land. This Exclusion does not limit the coverage described in Cove red Risk 11 or 21 LIMITATION!i ON COVERED RISKS Your insurance for the following Covered Risks is limited on the Owner's Coverage Statement as follows: Covered Risk 16, 18, 19 and 21, Your Deductible Amount and Our Maximum Dollar Limit of Liability shov.n in Schedule A. The deductible amounts and maximum dollar limits shown on Schedule A are as follows: Your Deductible Amount Covered Risk 16: 1 % of Policy Amount or $5,000.00 (whichever is less) Covered Risk 18: 1 % of Policy Amount or $5,000.00 (whichever is ess) Covered Risk 19: 1 % of Policy Amount or $5,000.00 (whichever is iess) Covered Risk 21: 1 % of Policy Amount or $2,500.00 (whichever is .ess) Our Maximum Dollar Limit of Liability $10,000.00 $25,000.00 $25,000.00 $5,000.00 12. THIRD GENERATION EAGLE LOAN POLICY AMERICAN UIND TITLE ASSOCIATION EXPANDED COVERAGE RESIDENTIAL LOAN POLK Y (1/01/08) EXCLUSIOI\ S FROM COVERAGE 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 expenses which arise by reason of: 1. (a) Any law, ordinance, permit, or governmental regulation (including those relating to building and zoning) restricting, regulating, prohibiting, or relating to (i) the occupancy, use, or enjoyment of the Land; (ii) the character, dimensions, or location of any improvement erected on the Land; (iii) the subdivision of land; or(iv) environmental protection; or the effect of any violation of these laws, ordinances, or governmental regulations. This Exclusion l(a) does not modify or limit the coverage provided under Covered Risk S, 6, 13(c), 13(d), 14 or 16. (b)Any governmental police power. This Exclusion l(b) does not modify or limit the coverage provided under Covered Risk 5, 6, 13(c), 13(d), 14 or 16. 2. Rights of eminent domain. This Exclusion does not modify or limit the coverage provided under Covered Risk 7 or 8. 3. Defects, liens, encumbrances, adverse claims, or other mattEirs (a) created, suffered, assumed or agreed to by the Insured Claimant; (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 writing to the Company by the Insured Claimant prior to the date the Insured Claimant became an Insured under this policy; (c) resulting in no loss or damage to the Insured Claimant; (d) attaching or created subsequent to Date of Policy (however, this does not modify or limit the coverage provided under Covered Risk 11, 16, 17, 18, 19, 20, 21, 22, 23, 24, 27 or 28); or (e) resulting in loss or damage which would not have been SJStained if the Insured Claimant had paid value for the Insured Mortgage. 4. Unenforceability of the lien of the Insured Mortgage because of the inability or failure of an Insured to comply with applicable doing business laws of the state where the Land is situated. 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 Insured Mortgage and is based upon usury, or any consume, credit protection or truth-in-lending law. This Exclusion does not modify or limit the coverage provided in Covered Risk 26. 6. Any claim of invalidity, unenforceability or lack of priority of the lien of the Insured Mortgage as to Advances or modifications made after the Insured has Knowledge that the vestee shown in Schedule A is no longer the owner of the estate or interest covered by this policy. This Exclusion does not modify or limit the coverage provided in Covered Risk 11. 7. Any lien on the Title for real estate taxes or assessments im~osed by governmental authority and created or attaching subsequent to Date of Policy. This Exclusion does not modify or limit the coverage ~rovided in Covered Risk ll(b) or 25. 8. The failure of the residential structure, or any portion of it, tc, have been constructed before, on or after Date of Policy in accordance with applicable building codes. This Exclusion does not modify or limit the coverage provided in Covered Risk 5 or 6. Arst American Title Insurance Company Order Number: NCS-406672-SAC4 Page Number: 17 13. AMERICAN LAND TITLE ASSOCIATION LOAN POLICY -2006 EXCLUSIOl\1S FROM COVERAGE 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 expenses that arise by reason of: 1. (a) Any law, ordinance, permit, or governmental regulation (including those relating to building and zoning) restricting, regulating, prohibiting, or relating to (i) the occupancy, use, or enjoyment of the Land; (ii) the character, dimensions, or location of any impro;ement erected on the Land; (iii) the subdivision of land; or (iv) environmental protection; or the effect of any violation of these laws, ordinances, or governmental regulations. This Exclusion l(a) does not modify or limit the coverage provided under Covered Risk 5. (b) Any governmental police power. This Exclusion l(b) doe:; not modify or limit the coverage provided under Covered Risk 6. 2. Rights of eminent domain. This Exclusion does not modify or limit the coverage provided under Covered Risk 7 or 8. 3. Defects, liens, encumbrances, adverse claims, or other matters (a) created, suffered, assumed, or agreed to by the Insured Claimant; (b) not Known to the Company, not recorded in the Public R~cords at Date of Policy, but Known to the Insured Claimant and not disclosed in writing to the Company by the Insured Claimant prior to t,e date the Insured Claimant became an Insured under this policy; ( c) resulting in no loss or damage to the Insured Claimant; (d) attaching or created subsequent to Date of Policy (howe•,er, this does not modify or limit the coverage provided under Covered Risk 11, 13, or 14); or (e) resulting in loss or damage that would not have been sw;tained if the Insured Claimant had paid value for the Insured Mortgage. 4. Unenforceability of the lien of the Insured Mortgage because of the inability or failure of an Insured to comply with applicable doing- business laws of the state where the Land is situated. 5. Invalidity or unenforceability in whole or in part of the lien o' the Insured Mortgage that arises out of the transaction evidenced by the Insured Mortgage and Is based upon usury or any consumer credit protection or truth-in-lending law. 6. Any claim, by reason of the operation of federal bankruptcy, state insolvency, or similar creditors? rights laws, that the transaction creating the lien of the Insured Mortgage, is (a) a fraudulent conveyance or fraudulent transfer, or (b) a preferential transfer for any reason not stated in Covered Risk 13(b) of this policy. 7. Any lien on the Title for real estate taxes or assessments imposed by governmental authority and created or attaching between Date of Policy and the date of recording of the Insured Mortgage in the Public Records. This Exclusion does not modify or limit the coverage provided under Covered Risk ll(b). 14. AMERICAN LAND TITLE ASSOCIATION LOAN POLICY -2006 WITH REGIONAL EXCEPTIONS When the American Land Title Association policy is used as a Standard Coverage Policy and not as an Extended Coverage Policy the exclusions set forth in paragraph 13 above are used and the following exceptions to e<)verage appear in the policy. SCHEDULE B This policy does not insure against loss or damage (and the Company will not pay costs, attorneys' fees or expenses) which arise by reason of: 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 property or by the Public Records; (b) proceedings by a public agency that may result in taxes or assessments, or notices of such proceedings, whether or not shown by the records of such a ~ency or by the Public Records. 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 that may be asserted by persons in possession of the Land. 3. Easements, liens or encumbrances, or claims thereof, not shJwn by the Public Records. 4. Any encroachment, encumbrance, violation, variation, or ad, erse circumstance affecting the Title that would be disclosed by an accurate and complete land survey of the Land and not shown by the Public Records. 5. (a) Unpatented mining claims; (b) reservations or exceptiom in patents or in Acts authorizing the issuance thereof; (c) water rights, claims or title to water, whether or not the matters excepted under (a), (b), or (c) are shown by the Public Records. First American T/tle Insurance Company Order Number: NCS-406672-SAC4 Page Number: 18 15. AMERICAN LAND TITLE A!;SOCIATION OWNER'S POLICY -2006 EXCLUSIONS FROM COVERAGE 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 expenses which arise by reason of: 1. (a) Any law, ordinance, permit, or governmental regulation I including those relating to building and zoning) restricting, regulating, prohibiting, or relating to (i) the occupancy, use, or enjoyment of the Land; (ii) the character, dimensions, or location of any improvement erected on the Land; (iii) the subdivision of land; or (iv) environmental protection;or the effect of any violation of these laws, ordinances, or governmental regulations. This Exclusion l(a) does not modify or limit the coverage provided under Covered Risk 5. (b) Any governmental police power. This Exclusion l(b) doe:; not modify or limit the coverage provided under Covered Risk 6. 2. Rights of eminent domain. This Exclusion does not modify or limit the coverage provided under Covered Risk 7 or 8. 3. Defects, liens, encumbrances, adverse claims, or other matt,irs (a) created, suffered, assumed, or agreed to by the Insured Claimant; (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 writing to the Company by the Insured Claimant prior to t1e date the Insured Claimant became an Insured under this policy; (c) resulting in no loss or damage to the Insured Claimant; (d) attaching or created subsequent to Date of Policy (howe·1er, this does not modify or limit the coverage provided under Covered Risks 9 and 10); or (e) resulting in loss or damage that would not have been sw,tained if the Insured Claimant had paid value for the Title. 4. Any claim, by reason of the operation of federal bankruptcy, state insolvency, or similar creditors? rights laws, that the transaction vesting the Title as shown in Schedule A, is (a) a fraudulent conveyance or fraudulent transfer; or (b) a preferential transfer for any reason not stated in Coverad Risk 9 of this policy. 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 the date of recording of the deed or other instrument of transfer in the Public Records that vests Title as shown in Schedule A. 16. AMERICAN LAND TITLE ASSOCIATION OWNER'S POLICY -2006 WITH REGI•ONAL EXCEPTIONS When the American Land Title Association policy is used as , Standard Coverage Policy and not as an Extended Coverage Policy the exclusions set forth in paragraph 15 above are used and the following exceptions to coverage appear in the policy. SCHEDULE B This policy does not insure against loss or damage (and the Company will not pay costs, attorneys' fees or expenses) which arise by reason of: 1. (a) Taxes or assessments that are not shown as existing lien; by the records of any taxing authority that levies taxes or assessments on real property or by the Public Records; (b) proceedings by a publ c agency that may result in taxes or assessments, or notices of such proceedings, whether or not shown by the records of such a!Jency or by the Public Records. 2. Any facts, rights, interests, or claims that are not shown by t1e Public Records but that could be ascertained by an inspection of the Land or that may be asserted by persons in possession of the Land. 3. Easements, liens or encumbrances, or claims thereof, not shown by the Public Records. 4. Any encroachment, encumbrance, violation, variation, or adverse circumstance affecting the Title that would be disclosed by an accurate and complete land survey of the Land and not shown by the Public Records. S. (a) Unpatented mining claims; (b) reservations or exceptions in patents or in Acts authorizing the issuance thereof; (c) water rights, claims or title to water, whether or not the matters excepted under (a), (b), or (c) are shown by the Public Records. First American Title Insurance Company (-- i ..--... ~ Cr"P.Ct: ◊f COl.liviY ASS~SS:OR -SMJTA CLAlf-1-COU~TY, CA+..FO~Nt4 11 3'07 II ~40 E ii I 9 @) J .. ~ ,c,c· TRACT N': 4326 I f . ---r o...,, •-.-.. --"l ._(..'\ DARRYL-P.M. · 34S-M-e ,,_. ----~ .. -· WESTMONT ~-:-:. ~~-~: _2,,_. _DR._·: ___ 'i. +- u.i ~ ! z 0 ~ :E <t :i:: :,,: .;,, ~ ... ~{,~---~,. r 60' ";I<" ~I PCL.. 8 ~ "' 0.94 AC. NET ;:: l!wg ·---·-·----.,,;.;----~ --,oa--· -~ --.9.-;- ?:L. ,\ ii ~:eJ~ I:~~~ ~ I ::;, "'~1" ~ ::~ :i. QC ti,. i ~ ~,: 1P £!2 J2 ~71 ~_§ : : 1.02 AC. NE~--~ l PC!.. I 1.92 AC NET 2i~ 37 I ~ ' j 7>."9 ,oo: ! • _,.=·.;;;; --;;,;;· ~ '551 ~ ~ ,,IS •~ I 30'1 ~ ,:c .;_: t ;}§ 24 ~I~ B /9 :; ,I • ., S 1§ 18 !1 n 1 r ;\'! W ;,:1, '1 -o-a::;. '°I :1 o I •~c. ,_,, ,. Q ,oc., :oo ·• I > -----~----------+-----<( <( • <> 34 25 I 22 l!P ~ '!! :: s 1.! i9 1' ,... g g ~ I l ::{' -I ""' 1': ~ " L---·--·--------i -·-----"' _____ .J ., I "' <t S.I I z; 2/ Q ., :\ :i 1§ r.o I. ts 31'"" . ~ ;, ~ ~ 26 1 -S:: ., I -.I:•: ! SONDRA .. ~---·-... ~ t; ... _ ., ,. 5 , , WAY q , 13 ;Jg i ~ ,. 6 f.J. :2 ' 1 4 ~ •' i ~ l~: PT~ ;: .. " I -•; .. ~ H :21-----~-----t-----~ '-I 1 I~ -----111 gJ S;; ~ ~ /4 i t · 2 5 ~ i; l i .. ,,' 31 -----·-·., ., --=----~--=-----., ~ t--... LL.I G\ _____ rs & 2 ~ i~ C o : 3 .i. ~: ~ ~ N~ I ~ -:-~ -----·-· ---------·---<( :); ·~ ;Jg L : I _J i' ~ t· 1e § ~ ;:; o it .'6 Jg 9 I • .Z ~ ;:: , N -----"~"' I " ! MARIANA l\l -----w -------------,· i~ 0 '>!} ii: I -WAY . ~ ~ ,.., ~ ,1 l§ 8 .. ,n to ,, e , • §. 0 -I 0..1e,, ....., ._..i;, -... '~ ... ~ _ .!_00_ _ _ _ _ t.£_0 __ " ~ _ .!f~ __ ~ __ IO~ __ " , <1 o-S. ~ 0.. ·-,-1 o ~ l§ 2.53 AC. NET ! t!i ! ~ ll , ,1: 1a ll i ;,; V> ~ ~ 10 1 ~; c, Ji i. ~ I cl>' ~ l J L f 60' ... .. 60' ~ -•·1 · ,o'. l ~ 110.03z~ ~\4 ~ &).~1 7~-=~9 ao.o, ~.?9 ~ J + ~ ·-·· _·g_ MARATHON --·--· : ..... ------·. ~-----~~~-----·· ---------+--------DR -:,\::t-f 1 RCS 206/R9 · · TRACT N~ 3906 I @ WESTMONT ESTATES -VN. N° I ..---------~ t.Al'R.(r+:t E ';)TOt-1E -~SSESSOR Co.1::l,l•\-1 ..-ig~ h o.S(St,l'l~.t p;-Jrpx-,.<S trilf, ('..-,i,pkd undtt R. & t. ~. Sec. 317. £f1e{.;!~ ~oll V~_ ~20?~- .. _,,, ... ______ j RB306023 1 l 'N. + HAM ILTON Ay£. r ,.,.,,,, .. ~ ~ I~ i; 0 ;~ "' g ., '~" ., ,,, ···7 .,,_ " 0 ® j • I~ ~ TR.r>,CT NR. 4& )8·A GALE DRIVE s. 'I! PAliCEL M'-P 1n-M• l~ !l1 -1 -1 I , ,. ,o ,0 ,o '76 ii. I?• ~ ,. ~ I~ 1t 1~ 1t ~·~ ;;;i I~ j :J ;:: " ;r, 7 ~ J:ll •O :r <.. " " z~ i : ~ 0 :"'1 9) z -;a:>~. ~ &! i» ;;. ,;; ·.: I ,::::3, z lg,~ I : ·• IO 1-l ·~ ·~ I ·~ CT ..... .., I s,.:, 0\ 60 IC .., l!.: + SPRINGFIELD WE'STI.IOl>lT f'irAHS··U>I.M?I OR 8' TRAC'T' '-19 J906 · , ' I p. t I ., ' .. p ... )0' j " i 4- , .. ..... ,, •· :~~"".>IIIWOJ 09990f :IdPIO gd~H v~'~I~T~ »~u-es :uor~dfIJsaa :i -l ., I. ··'