* * Commitment For Title Insurance
<br /> * Issued by Old Republic National Title Insurance Corporation
<br /> * NOTICE
<br /> * * IMPORTANT—READ CAREFULLY:THIS COMMITMENT IS AN OFFER TO ISSUE ONE OR MORE TITLE INSURANCE
<br /> * * POLICIES ALL CLAIMS OR REMEDIES SOUGHT AGAINST THE COMPANY INVOLVING THE CONTENT OF THIS
<br /> COMMITMENT OR THE POLICY MUST BE BASED SOLELY IN CONTRACT.
<br /> THIS COMMITMENT IS NOT AN ABSTRACT OF TITLE,REPORT OF THE CONDITION OF TITLE,LEGAL OPINION,OPINION OF TITLE,OR OTHER
<br /> REPRESENTATION OF THE STATUS OF TITLE.THE PROCEDURES USED BY THE COMPANY TO DETERMINE INSURABILITY OF THE TITLE,INCLUDING
<br /> ANY SEARCH AND EXAMINATION,ARE PROPRIETARY TO THE COMPANY,WERE PERFORMED SOLELY FOR THE BENEFIT OF THE COMPANY,AND
<br /> CREATE NO EXTRACONTRACTUAL LIABILITY TO ANY PERSON,INCLUDING A PROPOSED INSURED.
<br /> THE COMPANY'S OBLIGATION UNDER THIS COMMITMENT IS TO ISSUE A POLICY TO A PROPOSED INSURED IDENTIFIED IN SCHEDULE A IN
<br /> ACCORDANCE WITH THE TERMS AND PROVISIONS OF THIS COMMITMENT.THE COMPANY HAS NO LIABILITY OR OBLIGATION INVOLVING THE
<br /> CONTENT OF THIS COMMITMENT TO ANY OTHER PERSON..
<br /> COMMITMENT TO ISSUE POLICY
<br /> Subject to the Notice,Schedule B,Part[—Requirements,Schedule B,Part II—Exceptions;and the Commitment Conditions,Old Republic National Title Insurance
<br /> Company,a Minnesota corporation(the"Company"),commits to issue the Policy according to the terms and provisions of this Commitment.This Commitment is
<br /> effective as of the Commitment Date shown in Schedule A for each Policy described in Schedule A,only when the Company has entered in Schedule A both the
<br /> specified dollar amount as the Proposed Policy Amount and the name of the Proposed Insured.If all of the Schedule B,Part I—Requirements have not been met
<br /> within 6 months after the Commitment Date,this Commitment terminates and the Company's liability and obligation end
<br /> COMMITMENT CONDITIONS
<br /> 1. DEFINITIONS
<br /> (a)"Knowledge"or"Known":Actual or imputed knowledge,but not constructive notice imparted by the Public Records.
<br /> (b)"Land" The land described in Schedule A and affixed improvements that by law constitute real property.The term"Land"does not include any
<br /> property beyond the lines of the area described in Schedule A,nor any right,title,interest,estate,or easement in abutting streets,roads,avenues,
<br /> alleys,lanes,ways,or waterways,but this does not modify or limit the extent that a right of access to and from the Land is to be insured by the Policy.
<br /> (c)"Mortgage":A mortgage,deed of trust,or other security instrument,including one evidenced by electronic means authorized by law.
<br /> (d) "Policy":Each contract of title insurance,in a form adopted by the American Land Title Association,issued or to be issued by the Company
<br /> pursuant to this Commitment.
<br /> (e) "Proposed Insured Each person identified in Schedule A as the Proposed Insured of each Policy to be issued pursuant to this Commitment.
<br /> (f)"Proposed Policy Amount":Each dollar amount specified in Schedule A as the Proposed Policy Amount of each Policy to be issued pursuant to this
<br /> Commitment.
<br /> (g)"Public Records":Records established under state statutes at the Commitment Date for the purpose of imparting constructive notice of matters
<br /> relating to real property to purchasers for value and without Knowledge.
<br /> (h)"Title":The estate or interest described in Schedule A.
<br /> 2. If all of the Schedule B,Part Requirements have not been met within the time period specified in the Commitment to Issue Policy,Commitment terminates
<br /> and the Company's liability and obligation end.
<br /> 3. The Company's liability and obligation is limited by and this Commitment is not valid without,
<br /> (a)the Notice,
<br /> (b)the Commitment to Issue Policy;
<br /> (c)the Commitment Conditions;
<br /> (d)Schedule A;
<br /> (e)Schedule B,Part 1—Requirements,and
<br /> (f)Schedule B,Part II—Exceptions,and
<br /> (g)a counter-signature by the Company or its issuing agent that may be in electronic form.
<br /> 4. COMPANY'S RIGHT TO AMEND
<br /> The Company may amend this Commitment at any time.If the Company amends this Commitment to add a defect,lien,encumbrance,adverse claim,or
<br /> other matter recorded in the Public Records prior to the Commitment Date,any liability of the Company is limited by Commitment Condition 5.The
<br /> Company shall not be liable for any other amendment to this Commitment.
<br /> 5. LIMITATIONS OF LIABILITY
<br /> (a)The Company's liability under Commitment Condition 4 is limited to the Proposed Insured's actual expense incurred in the interval between the
<br /> Company's delivery to the Proposed Insured of the Commitment and the delivery of the amended Commitment,resulting from the Proposed
<br /> Insured's good faith reliance to
<br /> i. comply with the Schedule B,Part I—Requirements;
<br /> n. eliminate,with the Company's written consent,any Schedule B,Part I1--Exceptions;or
<br /> in. acquire the Title or create the Mortgage covered by this Commitment.
<br /> (b)The Company shall not be liable under Commitment Condition 5(a)if the Proposed Insured requested the amendment or had Knowledge of the
<br /> matter and did not notify the Company about it in writing.
<br /> (c)The Company will only have liability under Commitment Condition 4 if the Proposed Insured would not have incurred the expense had the
<br /> Commitment included the added matter when the Commitment was first delivered to the Proposed Insured.
<br /> (d)The Company's liability shall not exceed the lesser of the Proposed Insured's actual expense incurred in good faith and described in Commitment
<br /> Conditions 5(a)(Q through 5(a)(iu)or the Proposed Policy Amount.
<br /> (e)The Company shall not be liable for the content of the Transaction Identification Data,if any.
<br />
|