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EXCEPTIONS AI~~ LIMITATIONS <br />This Opinion is subject to and conditioned upon the accuracy and completeness of the title <br />data examined. This Opinion is based substantially on the work and records of other persons <br />and entities, specifically the prior Title Opinions, Title Reports, indices and records <br />summarized in the "Materials Examined" section of this Opinion. Therefore, this Opinion <br />is by necessity made subject to the accuracy and completeness of such materials and excepted <br />from this Opinion are the errors or onussions, if any, in said materials, and the undersigned <br />assumes no liability therefor. <br />2. This Opinion is limited to matters reflected in the instruments and materials examined and <br />does not cover questions of forgery, identity or capacity of persons, conflicts in boundary <br />lines, encroachments, or rights which. do not appear of record. This Opinion also does not <br />cover, to the extent they do not appear in the materials examined., rules, regulations, <br />restrictions, orders or ordinances of any governmental agency having or asserting <br />jurisdiction, including administratively established oil and gas f eld rules, if any, and the <br />necessity for securing administrative orders or approval for drilling, pooling, spacing, and <br />related matters. <br />3. No opinion is expressed. as to the following: <br />a. Railroad and/or other rights-of way or claims not reflected by the data examined, the <br />existence of which may be determined from a physical inspection of the lands; <br />b. The rights of parties in possession; <br />c. Discrepancies of survey or location which. might be reflected by physical examination of <br />the lands; and matters pertaining to boundaries, .location of improvements, number of acres, <br />and any other matter which would be disclosed by an accurate survey; <br />d. Zoning or other land use controls; <br />e. Claims or la~vsuits not shown by a recorded notice of lis pendens; <br />f. Matters excepted from the abstractor's certificate of coverage, where applicable, and all <br />interests, rights, claims and demands, whether recorded or not, which do not appear in the <br />materials examined; <br />a. Any applicable bankruptcy or insolvency laws, liens for cw-rent taxes not yet due, <br />mechanics, judgment, or statutory liens not reflected by the data examined; <br />h. lvlatters of fact not disclosed of record which vary fi om statutorily pern~itted presumptions <br />of fact or statutorily created prima facie evidence of fads; <br />,~{t is ~igtirtCtty understood and agreed as evidenced by year <br />t`? ranee of this opinion that Petroleum pevetopment <br />accep_ <br />Corpora~on and its subsidiaries are lass orainicantien earn <br />,nrHsn, 6:~ of carporatiarr to any <br />' ~ r f1?~ use of er roiiance u^an this opinion <br />J1C'~.,;:~te3 by r <br />