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vii [1 rotl4 11 :3:! FR CHICRGO TITLE 12097459188 TO 7942871 P .08/ 10 <br /> Page d <br /> SCHEDULE B <br /> (continued) <br /> Order No: 3042469 LH YourRek' 1082842 JAN COOKSON <br /> APPROVED FOR ISSUANCE, WILL BE ENDORSED TO ADD THE FOLLOWING TO THE <br /> EXCLUSIONS FROM COVERAGE CONTAINED THEREIN: <br /> LOAN POLICY EXCLUSION: <br /> ANY CLAIM, WHICH ARISES OUT OF THE TRANSACTION CREATING THE INTEREST OF THE <br /> MORTGAGEE INSURED BY THIS POLICY, BY REASON OF THE OPERATION OF FEDERAL <br /> BANKRUPTCY, STATE INSOLVENCY, OR SIMILAR CREDITORS' RIGHTS LAWS, THAT IS <br /> BASED ON: <br /> (i) THE TRANSACTION CREATING THE INTEREST OF THE INSURED MORTGAGEE <br /> " BEING DEEMED A FRAUDULENT CONVEYANCE OR FRAUDULENT TRANSFER; OR <br /> (II) THE SUBORDINATION OF THE INTEREST OF THE INSURED MORTGAGEE AS A <br /> RESULT OF THE APPLICATION OF THE DOCTRINE OF EQUITABLE SUBORDiN- <br /> ATION; OR <br /> (Iii) THE TRANSACTION CREATING THE INTEREST OF THE INSURED MORTGAGEE <br /> BEING DEEMED A PREFERENTIAL TRANSFER EXCEPT WHERE THE PREFEREN- <br /> TIAL TRANSFER RESULTS FROM THE FAILURE T0: <br /> (a) TO TIMELY RECORD THE INSTRUMENT OF TRANSFER; OR <br /> (b) OF SUCH RECORDATION TO IMPART NOTICE TO A PURCHASER FOR <br /> VALUE OR A JUDGMENT OR LIEN CREDITOR. <br /> OWNER'S POLICY EXCLUSION: <br /> ANY CLAIM, WHICH ARISES OUT OF THE TRANSACTION VESTING IN THE INSURED, THE <br /> ESTATE OR INTEREST INSURED BY THIS POLICY, BY REASON OF THE OPERATION OF <br /> FEDERAL BANKRUPTCY, STATE INSOLVENCY OR SIMILAR CREDITORS' RIGHTS LAWS, <br /> THAT 15 BASED ON: <br /> (1) THE TRANSACTION CREATING THE ESTATE OR LNTEREST INSURED BY THIS <br /> POLICY BEING DEEMED A FRAUDULENT CONVEYANCE OR FRAUDULENT TRANSFER; <br /> OR <br /> _. (ii) THE TRANSACTION CREATING THE ESTATE OR INTEREST INSURED BY THIS <br /> POLICY BEING DEEMED A PREFERENTIAL TRANSFER EXCEPT WHERE THE <br /> PREFERENTIAL TRANSFER RESULTS FROM T14E FAILURE: <br /> (a) TO TIMELY RECORD THE INSTRUMENT OF TRANSFER; OR <br /> (b) OF SUCH RECORDATION TMJ IMPART NOTICE TO A PURCHASER FOR <br /> VALUE OR A JUDGMENT OR LIEN CREDITOR. <br /> s NOTE NO. 4: "THE LAND REFERRED TO IN THIS PRELIMINARY REPORT WAS <br /> IDENTIFIED IN THE ORDER APPLICATION ONLY BY STREET ADDRESS OR ASSESSOR'S <br /> PARCEL NUMBER, THIS LAND HAS BEEN LOCATED ON THE ATTACHED MAP. THE USE OF <br /> +rec�n+ep-imisez <br />