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Order Number: 1004-5251074
<br /> Page Number: 13
<br /> (ii)the character,dimensions,or location of any improvement erected on the Land;
<br /> (iii)the subdivision of land;or
<br /> (iv)environmental protection;
<br /> or the effect of any violation of these laws,ordinances,or governmental regulations.This Exclusion 1(a)does not modify or limit the
<br /> coverage provided under Covered Risk 5.
<br /> (b)Any governmental police power.This Exclusion 1(b)does not modify or limit the coverage provided under Covered Risk 6.
<br /> 2. Rights of eminent domain.This Exclusion does not modify or limit the coverage provided under Covered Risk 7 or 8.
<br /> 3. Defects,liens,encumbrances,adverse claims,or other matters
<br /> (a)created,suffered,assumed,or agreed to by the Insured Claimant;
<br /> (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
<br /> in writing to the Company by the Insured Claimant prior to the date the Insured Claimant became an Insured under this policy;
<br /> (c)resulting in no loss or damage to the Insured Claimant;
<br /> (d)attaching or created subsequent to Date of Policy(however,this does not modify or limit the coverage provided under Covered Risk 11,
<br /> 13,or 14);or
<br /> (e)resulting in loss or damage that would not have been sustained If the Insured Claimant had paid value for the Insured Mortgage.
<br /> 4. Unenforceability of the lien of the Insured Mortgage because of the inability or failure of an Insured to comply with applicable doing-
<br /> business laws of the state where the Land is situated.
<br /> 5. Invalidity or unenforceability in whole or in part of the lien of the Insured Mortgage that arises out of the transaction evidenced by the
<br /> Insured Mortgage and is based upon usury or any consumer credit protection or truth-in-lending law.
<br /> 6. Any claim,by reason of the operation of federal bankruptcy,state insolvency,or similar creditors'rights laws,that the transaction creating
<br /> the lien of the Insured Mortgage,is
<br /> (a)a fraudulent conveyance or fraudulent transfer,or
<br /> (b)a preferential transfer for any reason not stated in Covered Risk 13(b)of this policy.
<br /> 7, Any lien on the Title for real estate taxes or assessments imposed by governmental authority and created or attaching between Date of
<br /> Policy and the date of recording of the Insured Mortgage in the Public Records.This Exclusion does not modify or limit the coverage
<br /> provided under Covered Risk 11(b).
<br /> The above policy form may be issued to afford either Standard Coverage or Extended Coverage. In addition to the above Exclusions from
<br /> Coverage,the Exceptions from Coverage in a Standard Coverage policy will also include the following Exceptions from Coverage:
<br /> EXCEPTIONS FROM COVERAGE
<br /> [Except as provided in Schedule B-Part II,[t[or This policy does not insure against loss or damage,and the Company will not pay
<br /> costs,attorneys'fees or expenses,that arise by reason of:
<br /> [PART I
<br /> [The above policy form may be issued to afford either Standard Coverage or Extended Coverage.In addition to the above Exclusions from
<br /> Coverage,the Exceptions from Coverage in a Standard Coverage policy will also include the following Exceptions from Coverage:
<br /> 1. (a)Taxes or assessments that are not shown as existing liens by the records of any taxing authority that levies taxes or assessments on real
<br /> property or by the Public Records;(b)proceedings by a public agency that may result in taxes or assessments,or notices of such
<br /> proceedings,whether or not shown by the records of such agency or by the Public Records.
<br /> 2. Any facts,rights, interests,or claims that are not shown by the Public Records but that could be ascertained by an inspection of the Land or
<br /> that may be asserted by persons in possession of the land.
<br /> 3. Easements,liens or encumbrances,or claims thereof,not shown by the Public Records.
<br /> 4. Any encroachment,encumbrance,violation,variation,or adverse circumstance affecting the Title that would be disclosed by an accurate
<br /> and complete land survey of the Land and not shown by the Public Records.
<br /> 5. (a)Unpatented mining claims;(b)reservations or exceptions in patents or in Acts authorizing the issuance thereof; (c)water rights,claims
<br /> or title to water,whether or not the matters excepted under(a),(b),or(c)are shown by the Public Records.
<br /> 6. Any lien or right to a lien for services,labor or material not shown by the public records.]
<br /> PART n
<br /> In addition to the matters set forth in Part I of this Schedule,the Title is subject to the following matters,and the Company insures
<br /> against loss or damage sustained in the event that they are not subordinate to the lien of the Insured Mortgage:]
<br /> 2006 ALTA OWNER'S POLICY(06-17-06)
<br /> EXCLUSIONS FROM COVERAGE
<br /> The following matters are expressly excluded from the coverage of this policy,and the Company will not pay loss or damage,costs,attorneys'
<br /> fees,or expenses that arise by reason of:
<br /> 1. (a)Any law,ordinance,permit,or governmental regulation(including those relating to building and zoning)restricting,regulating,
<br /> prohibiting,or relating to
<br /> (i)the occupancy,use,or enjoyment of the Land;
<br /> (ii)the character,dimensions,or location of any improvement erected on the Land;
<br /> (iii)the subdivision of land;or
<br /> First American Title
<br /> Page 13 of 16
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