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ate:; w CAT.NO NNO1376—USE WITH NNO1374 or NNO1375 TO 3131 CA-Part 2 (10.87) , . PRELIMINARY REPORT COVER Printed Policy Exceptions and Exclusions ALTA RESIDENTIAL POLICY (6-1-87) The Exclusions and the Exceptions of the ALTA Residential • the taking happened prior to the Policy Date and is binding on you Policy Form recite that you are not insured against toss, costs, if you bought the land without knowing of the taking attorneys"fees, and expenses resulting from: 3 Title Risks: Exclusions ■ that are created.allowed,or agreed to by you 1 Governmental police power,and the existence or violation of any ■ that are knownto you.but not to us.on the Policy Date—unless law or government regulation. This includes building and zoning they appeared in the public records ordinances and also laws and regulations concerning ■ that result in no loss to you ■ land use ■ that first affect your title after the Policy Date—this does not ■ improvements on the land limit the labor and material lien coverage in Item 8 of Covered Title Risks • land division ■ environmental protection 4 Failure to pay value for your title. This exclusion does not apply to violations or the enforcement of 5 Lack of a right: these matters which appear in the public records at Policy Date. ■ to any land outside the area specifically described and referred to This exclusion does not limit the zoning coverage described in Items in Item 3 of Schedule A 12 and 13 of Covered Title Risks. or 2 The right to take the land by condemning it,unless: ■ in streets,alleys,or waterways that touch your land ■ a notice of exercising the right appears in the public records on This exclusion does not limit the access coverage in Item 5 of the Policy Date Covered Title Risks. - a _ Standard Exceptions (a) Any rights, interests or claims of parties in possession of the land not shown by the public records. (b) Any easements or liens not shown by the public records- This does not limit the lien coverage in Item 8 of the Covered Title Risks. (c) Any facts about the land which a correct survey would disclose and which are not shown by the public records. This does not limit the forced removal coverage in Item 12 of Covered Title Risks. (d) Any water rights,claims or title to water on or under the land. ALTA LOAN POLICY (10.21.87) WITH ALTA ENDORSEMENT FORM 1 COVERAGE The Exclusions from Coverage of the ALTA Loan policy form recites that 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(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;(iii)a separation in ownership ora 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 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; Ic) 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 to 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 subseque.lt owner of the indebtedness, to comply with 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. (Exceptions and Exclusions Continued on Reverse Side)