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SCHEDULE B This polity does not insure against loss or damage(and the Company will not pay costs,attomeys'fees or expenses)which arise by reason of. `1. Taxes or assessments which are not shown as existing liens by the records of any taxing authority that levies taxes or assessments on real property or by the public records. 2. Any facts,rights,interests,or claims which are not shown by the public records but which could be ascertained by an inspection of said land or by making inquiry of persons in possession thereof. 3. Easements,claims of easement or encumbrances which are not shown by the public records. 4. Discrepancies,conflicts in boundary lines,shortage in area,encroachments,or any other facts which a correct survey would disclose,and which are not shown by public records `5. Unpatented mining claims,reservations or exceptions in patents or m Acts authorizing the issuance thereof,water rights,claims or tide to water. 6. Any lien,or right to a lien,for services,labor or material theretofore or hereafter furnished,imposed by law and not shown by the public records 8.AMERICAN LAND TITLE ASSOCIATION OWNER'S POLICY - 1992 EXCLUSIONS FROM COVERAGE r 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 or a 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, V 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 V 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, (c) resulting in no loss of damage to the insured claimant, (d) attaching or created subsequent to 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 estate or interest insured by this policy. 1 4. Any claim, which arises out of the transaction vesting in the Insured the estate or interest insured by this policy, by reason of the operation of federal bankruptcy, state insolvency,or similar creditors'rights laws,that is based on: (i) the transaction creating the estate or interest insured by this policy being deemed a fraudulent conveyance or fraudulent transfer,or (ii) the transaction creating the estate or interest insured by this policy being deemed a preferential transfer except where the preferential transfer results from the failure (a)to timely record the instrument of transfer,or (b)of such recordation to impart notice to a purchaser for value or a judgment or lien creditor. r 9.AMERICAN LAND TITLE ASSOCIATION OWNER'S POLICY - 1992 WITH REGIONAL EXCEPTIONS When the American Land Tile Association policy is used as a Standard Coverage Policy and not as an Extended Coverage Policy the exclusions set forth in paragraph 8-above are used and the following exceptions to coverage appear in the policy. _ - r SCHEDULE B This policy does not insure against loss of damage(and the Company will not pay costs,attomeys'fees or expenses)which arse by reason of Part One: 1. Taxes or assessments which are not shown as existing liens by the records of any taxing authority that levies taxes or assessments on real property or by the public records 2. Any facts,rights, interests, or claims which are not shown by the public records but which could be ascertained by an inspection of said land or by making inquiry of Persons in possession thereof 3. Easements,claims of easement or encumbrances which are not shown by the public records. 4. Discrepancies,conflicts in boundary lines,shortage in area,encroachments,or any other facts which a correct survey would disclose,and which are not shown by public records. 5. Unpatented mining claims,reservations or exceptions in patents or in Acts authorizing the issuance thereof:water rights,claims or tide to water, 6. Any lien,or right to a lien,for services,labor or material theretofore or hereafter furnished,imposed by law and not shown by the public records. 10.AMERICAN LAND TITLE ASSOCIATION RESIDENTIAL TITLE INSURANCE POLICY - 1987 EXCLUSIONS In addition to the Exceptions in Schedule B. you are not insured against loss,costs,attomeys'fees and expenses resulting from: 1. Governmental police power, and the existence or violation of any law or government regulation. This includes building and zoning ordinances and also laws and regulations concerning: land use -land division Improvements on the land environmental protection This exclusion does not apply to violations or the enforcement of these matters which appear in the public records at Policy Date. This exclusion does not limit the zoning coverage described in Items 12 and 13 of Covered Title Risks. 2. The right to take the lard by condemning it,unless: r a notice of exercising the right appears in the public records on the Policy Date the taking happened prior to the Policy Date and is binding on you if you bought the land without knowing of the taking. 3. Tide Risks: that are created,allowed,or agreed to by you that are known to you,but not to us,on the Policy Date-unless they appeared in the public records that result in no loss to you that first affect your lite after the Policy Date-this does not limit the labor and material lien coverage in Item 8 of Covered Title Risks 4. Failure to pay value for your tile. 5. Lack of a right to any land outside the area specifically described and referred to in Item 3 of Schedule A,or in streets,alleys,or waterways that touch your land This exclusion does not limit the access coverage in Item 5 of Covered Title Risks.