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4.AMERICAN LAND TITLE ASSOCIATION LOAN POLICY- 1970 WITH A.L.T.A. ENDORSEMENT FORM 1 COVERAGE SCHEDULE OF EXCLUSIONS FROM COVERAGE I. Any law,ordinance or gmemmental regulation(including but not limited to building and ming ordinances)restricting or mguating a prohibiting the occupancy.use on enjoyment of the land,or regulating the character, dimensions an location of any improvement now or hereafter elected on the land.or prohibiting a separation in ownership or a reduction in the dimensions or area of the land,or the effect of any violation of any such law ordinance on governmental regulation. 2. Rights of eminent domain or governmental rights of police power unless police of the exercise of such rights appears in the public records at Dale of Policy. 3. Defects,liens,encumbrances,adverse claims.or other natters(a)created,suffered,assumed Or agreed to by the insured claimant,(b)nor known to the Company and not shown by the public records but known to the insured claimant either at Date of Policy in at the dale such claimant acquired an estate or interest insured by this policy on acquired the Insured mortgage and not disclosed in writing by the insured claimant to the Company prior to the dale such insured claimant became an insured Immunder,(c)resulting in no loss or damage to the impact claimanl;(d)attaching an created subsequent to Date of Policy mal to the erten insurance is afforded herein as to any statutory lien for labor or material or to the&dent insurance is afforded herein as to assessments for street improvements under construction or completed at Date of Policy). 4. Unenforceability of the lien of the insured mortgage because of failure of the insured at Dale of Policy or of any subsequent owner of the Indebtedness to comply with applicable'doing business"laws of the state in which the land is situated. 5. AMERICAN LAND TITLE ASSOCIATION LOAN POLICY- 1970 WITH REGIONAL EXCEPTIONS When the American Land Title Association Lenders Policy is used as a Standard Coverage Policy and not as an EAended Coverage Policy,the exclusions set forth in paragraph 4 above are used and the following aceptions to 6mage appear in the policy. SCHEOULE B This policy does nor insure against loan or damage by reason of the matters shown in parts one and two following. Pan Dna: 1. Tarns or assessments which are ndl shown as existing liens by the records of any ladng authority that levies taxes an assessments on real property or by the public records. 2. Any facts,rights,Wrists,at claims which are not shown by to public records but which could be ascertained by an inspection of said lard or by making inquiry at persons in possession thereof. 3. Easements,claims of easement or encumbrances which are not shown by Me public records. 4. Discrepancies,conflicts in boundary lines,shortage in area,encroachments,or any other has which a correct survey would disclose,and which are rdl shown by public records. 5. Unpatented mining claims:reservations or exceptions in patents of in Acts authorizing the issuance thereof;water rights,claim or title to waler. 6. Any lien,or nghl to a lien,la services,labor or meta l theretofore of hereafter furnished,imposed by law and not shown by the public records. 6.AMERICAN LAND TITLE ASSOCIATION LOAN POLICY-1992 WITH A.L.T.A. ENDORSEMENT FORM 1 COVERAGE EXCLUSIONS FROM COVERAGE The following matters are expressly excluded Imam me coverage of this policy and the Company will not pay loss or damage,costs,mora 'fees or expenses which arise by lesson of: 1, (a) Any law,odhance or govemnental regulation(including but not limited to building and zoning laws,ordinances or negulalions)restricting,regulating,prohibiting or relating to(1)the occupancy,use,of enjoyment of the land;(ii)me character,dimensions or location of any improvement now or hereafter erected on the land;(iii)a separation in ownership a a change in the dimensions Or area of the lard or any parcel of which the lard is or was a pan;or(w)envimnmenhl protection,or the effect of any violation of these laws,Ordinances or governmental reguations,except to the edent that a notice of the enhancement thereof a a notice of a defect,lien an encumbrance resulting from a violation or alleged vitiation affecting the land has been recorded In the public records at Date of Policy. (t) Any governmental police power not excluded by(a)above:,except to the Went that a notice of the exercise thereof of 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. flights 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 laking which has occurred prior to Date of Policy which would be binding on the rights of a purchaser for value without knowledge. 3. Daects,liens,encumbrances,adverse claim or other maters: (a) created,uttered.assumed or agreed to by the insured claimant (b) not known to the Company,not peopled 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 dale the insured claimant beam an insured under this policy; (c) resulting in no loss or damage to the insured clauaank (d) ataching or created subsequent to Date of Policy(except to the&dent that this policy insures the priority of the lien of the insured mortgage over any statutory lien for families.labor a material Or the edema insurance is afforded herein as to assessments for street improvements under construction or completed at dale of policy);or + (e) resulting in loss or damage which would poll have been well it the insured claimant had call value for to insured mortgage. 4. Unenlorcwabilily at the lien of the insured mortgage because of the inability or failure of the insured at Date of Policy,or the inability,a failure of any subsequent owner of the intlebledrass,to comply with applicable 'doing business'laws of the sae in which the land is situated. 5. Invalidity or umntorceability,of the liar of the insured mortgage,or claim Ihersol,which arises our of the traraaclion evidenced by the insured mortgage and is based upon usury an any consumer credit protection or truth in lending law. 6. Any statuary fir for services,labor or materials for 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 IoM which is contracted fa and commenced subsequent to Dale of Policy and is not financed in whole or in part by proceeds of the indebtedness secured by the insured mortgage which al Dale of Policy de maxed las advanced or is obligated to advance. 7. Any claim,which arises out of the transaction creating the interest of the manage&insured by this policy,by reason of Ira operation of federal bankruptcy,state insolvency,or similar credllors'rights laws,that ` K based on (i) the transaction creating the interest of the Limited mortgagee being deemed a fraudulent Iorrv9yarlce or fraudulent transfer;or , (ii) me subordination of the interest of me insured marlgagm as a result of the application of the doctrine of equitable subordination;of fill) the transaction creating the interest of to insured mortgagee being deemed a preferential Irmaler except where the preferential transfer results from the failure: (a) to timely record the instrument of bansler,or @) of such fecomation to impart notice to a purchaser for value or a judgment or lien creditor. 7. AMERICAN LAND TITLE ASSOCIATION LOAN POLICY- 1992 WITH REGIONAL EXCEPTIONS When the American land Title Association policy is used as a Standard Coverage Policy and nol as an Extended Coverage Policy the exclusions set forth in paragraph 6 above are used and the following exceplions to coverage appear in The policy.