ARCHIVED REPORTS LEC APPLICATION FOR CERTIFICATION

Home Browse Search

ATTACHMENT ONE (CONTINUED) 2006 AMERICAN LAND TITLE ASSOCIATION LOAN POLICY(06-17-06) EXCLUSIONS FROM COVERAGE The following matters are expressly excluded from the coverage of (c)resulting in no loss or damage to the Insured Claimant; this policy, and the Company will not pay loss or damage,costs, (d)attaching or created subsequent to Date of Policy(however, attorneys'fees,or expenses that arise by reason of: this does not modify or limit the coverage provided under 1. (a)Any law, ordinance, permit, or governmental regulation Covered Risk 11, 13,or 14);or (including those relating to building and zoning) restricting, (e)resulting in loss or damage that would not have been regulating,prohibiting,or relating to sustained if the Insured Claimant had paid value for the Insured (i) the occupancy,use,or enjoyment of the Land; Mortgage. (ii)the character, dimensions, or location of any 4. Unenforceability of the lien of the Insured Mortgage because of improvement erected on the Land; the inability or failure of an Insured to comply with applicable (iii) the subdivision of land;or doing-business laws of the state where the Land is situated. (iv) environmental protection; 5. Invalidity or unenforceability in whole or in part of the lien of or the effect of any violation of these laws, ordinances, or the Insured Mortgage that arises out of the transaction governmental regulations.This Exclusion 1(a)does not modify evidenced by the Insured Mortgage and is based upon usury or or limit the coverage provided under Covered Risk 5. any consumer credit protection or truth-in-lending law. (b)Any governmental police power. This Exclusion 1(b)does 6. Any claim,by reason of the operation of federal bankruptcy, not modify or limit the coverage provided under Covered state insolvency, or similar creditors' rights laws, that the Risk 6. transaction creating the lien of the Insured Mortgage,is 2. Rights of eminent domain. This Exclusion does not modify or (a) a fraudulent conveyance or fraudulent transfer,or limit the coverage provided under Covered Risk 7 or 8. (b)a preferential transfer for any reason not stated in Covered 3. Defects,liens,encumbrances,adverse claims,or other matters Risk 13(b)of this policy. (a)created, suffered, assumed, or agreed to by the Insured 7. Any lien on the Title for real estate taxes or assessments Claimant; imposed by governmental authority and created or attaching (b)not Known to the Company, not recorded in the Public between Date of Policy and the date of recording of the Insured Records at Date of Policy,but Known to the Insured Claimant Mortgage in the Public Records. This Exclusion does not and not disclosed in writing to the Company by the Insured modify or limit the coverage provided under Covered Claimant prior to the date the Insured Claimant became an Risk I I(b). Insured under this policy; The above policy form may be issued to afford either Standard Coverage or Extended Coverage. In addition to the above Exclusions from Coverage,the Exceptions from Coverage in a Standard Coverage policy will also include the following Exceptions from Coverage: EXCEPTIONS FROM COVERAGE This policy does not insure against loss or damage(and the Company will not pay costs,attorneys'fees or expenses)that arise by reason of: 1. (a)Taxes or assessments that are not shown as existing liens by 3. Easements,liens or encumbrances,or claims thereof,not shown the records of any taxing authority that levies taxes or by the Public Records. assessments on real property or by the Public Records; 4. Any encroachment, encumbrance, violation, variation, or (b)proceedings by a public agency that may result in taxes or adverse circumstance affecting the Title that would be disclosed assessments, or notices of such proceedings, whether or not by an accurate and complete land survey of the Land and not shown by the records of such agency or by the Public Records. shown by the Public Records. 2. Any facts,rights,interests,or claims that are not shown by the 5. (a)Unpatented mining claims;(b)reservations or exceptions in Public Records but that could be ascertained by an inspection patents or in Acts authorizing the issuance thereof, (c)water of the Land or that may be asserted by persons in possession of rights, claims or title to water, whether or not the matters the Land. excepted under(a),(b),or(c)are shown by the Public Records. Attachment One(11/17/06)