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F! <br /> LENDER'S NOTE: <br /> IF A 1970 ALTA LENDER'S POLICY FORM HAS BEEN REQUESTED, THE POLICY, WHEN AND IF <br /> APPROVED FOR ISSUANCE, WILL EITHER BE ENDORSED TO ADD THE FOLLOWING LANGUAGE <br /> M OR AN ENCUMBRANCE WILL BE ADDED TO SCHEDULE B, PART I AS FOLLOWS: <br /> Any claim, which arises out of the transaction creating the interest of the mortgagee insured by this <br /> policy, by reason of the operation of federal bankruptcy, state insolvency, or similar creditors' <br /> rights laws, that is based on: <br /> P, (a) the transaction creating the interest of the insured mortgagee being deemed a fraudulent <br /> conveyance or fraudulent transfer; or <br /> (b) the subordination of the interest of the insured mortgagee as a result of the application <br /> of the doctrine of equitable subordination; or <br /> (c) the transaction creating the interest of the insured mortgagee being deemed a preferential <br /> transfer except where the preferential transfer results from the failure: <br /> (i) to timely record the instrument of transfer; or <br /> (ii) of such recordation to impart notice to a purchaser for value or a judgment or lien <br /> creditor. <br /> APPROVAL FOR THE ISSUANCE OF THE 1970 ALTA LENDER'S POLICY FORM MUST BE REQUESTED <br /> AND APPROVED PRIOR TO CLOSE OF ESCROW. ALL OTHER FORMS OF POLICIES THAT ARE ; <br /> AUTHORIZED TO BE ISSUED ARE THE 1992 POLICIES ONLY. <br /> BUYER'S NOTE: <br /> If an ALTA Residential Owner's Policy is requested and if the property described herein is <br /> determined to be eligible for this policy, the following Exceptions From Coverage will appear <br /> in the policy: <br /> 1. Taxes or assessments which are not shown as liens by the public records or by the records <br /> of any taxing authority. <br /> !!! i <br /> I <br /> 2. (a) Water rights, claims or title to water; (b) reservations or exceptions in patents j <br /> or in Acts authorizing the issuance thereof; (c) unpatented mining claims; whether or <br /> F) not the matters excepted under (a), (b) or (c) are shown by the public records. <br /> 3. Any rights, interests or claims of parties in .possession,of the land which are not <br /> shown by the public records. <br /> 4. Any easements or liens not shown by the public records. This exception does not limit the <br /> lien coverage in Item 8 of the Covered Title Risks. <br /> 5. Any facts about the land which a correct survey would disclose and which are not shown by <br /> the public records. This exception does not limit the forced removal coverage in Item 12 <br /> Fj of the Covered Title Risks. <br /> ! f <br /> GAELIIS.NOTSS <br /> R <br />