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SIC Owner's Policy American Land Title Assoelation Owner's Pokey 10.17.02 SUBJECT TO THE EXCLUSIONS FROM COVERAGE, THE EXCEPTIONS FROM COVERAGE CONTAINED IN SCHEDULE BAND THE CONDITIONS AND STIPULATIONS, OLD REPUBLIC NATIONAL TITLE INSURANCE COMPANY, a Minnesota corporation, herein caked the Company, Insures, as of Date of Policy shown In Schedula A, against loss or damage, not exceeding the Amount of Insurance stated in Schedule A, sustained or incurred by the Insured by reason of: 1. Title to the estate or interest described In Schedule A being vested other than as stated therein 7 Any defect in or lion or encumbrance on the title; 3. Unmaiketabkity of the tide; 4. Lack of a right of access to and from the lend. The Company will also pay the costs, attorney's fees and expenses Incurred in defense of the lithe, as Insured, but only to the extent provided In the Conditions and Stipulations. IN WITNESS WHEREOF, the said OLD REPUBLIC NATIONAL TITLE INSURANCE COMPANY has caused its corporate name and seal to be hereunto affixed by its duly authorized officers as of the date shown in Schedule A, the policy to he valid when countersigned by an authorized officer or agent of the Company. 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. (al Any law, ordinance or governmental regulation (Including but net limited to building and zoning laws, ordnances, or regulations) restricting, regulating, prohibiting or relating to p) the occupancy, use, or enjoyment of the land; 151 the character, dimensions or location of arty improvement now or hereafter erected on the land; (w) a separatfan 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 (fv) envbonmantal 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 o defect, lion or encumbrance resulting from a violation or alleged violation affecting the land has boon recorded in the public records at Date of Policy. Ib) Any governmental police power not excluded by 0) above, except to the extent that a notice of thu exercise thereof or a notice of a defect, lien or encumbrance resulting from a violation or alleged violation affecting the land has been retarded In the public records at Date of Policy. 2. Rights of eminent domain unless notice of the examine thereof has been recorded in the public records at Date of Policy, but not excluding from coverage any taking which has occurred prior to Data of Policy which would be binding on the rights of a purchaser for value without knowledge. 3. Detects, lions, encumbrances, adverse claims, at other matters: In) created, suffered, assumed oregread 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 to writing to the Company by the hrsumd 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; or (a) resulting in loss or damage which would not have been sustained if the Insured claimant had paid value far 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, stele insolvency, or similar creditor.' rights laws, that is based on: fi) the transaction creating the estate Of interest insured by this policy being deemed a fraudulent conveyance or fraudulent transfer, or rill the transaction creating the ammo or interest insured by this policy being deemed preferential transfer except wham the preferential transfer results from the failure: (a) to timely record the Instrerrwnl of transfer, or Of of such recordation to impart notice to a purchaser for value or a judgment or lien creditor. OLD REPUBLIC NATIONAL TITLE INSURANCE COMPANY A Stock Company 400 Second Avenue South Minneapolis, Minnesota 55401 1512) 371.1111 Issued through the office of: LAND TITLE GUARANTEE COMPANY 2731 COMMERCIAL WAY MONTROSE, CO 81401 870-249-ED44 %1Q, r yA1P`JelKYrl+ Authodzed Signature •ap4 TrTLF? $ 4 * d,-, -W4 T -111 . u * ! Brae tF =: ? ?1xYL ? rnn AO.ORT (Form 4020) Cover Page Iof3