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Order Number: NCS-851639-CC
<br />Page Number: 14
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<br />First American Title Insurance Company
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<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 property or by the Public Records; (b) proceedings by a public agency that may result in taxes or assessments, or notices of such 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 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 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.
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<br /> ALTA EXPANDED COVERAGE RESIDENTIAL LOAN POLICY (07-26-10)
<br />EXCLUSIONS FROM COVERAGE
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<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 />
<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 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
<br />limit the coverage provided under Covered Risk 5, 6, 13(c), 13(d), 14 or 16.
<br />b. Any governmental police power. This Exclusion 1(b) does not modify or limit the coverage provided under Covered Risk 5, 6,
<br />13(c), 13(d), 14 or 16.
<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; b. not Known to the Company, not recorded in the Public Records at Date of Policy, but Known to the Insured Claimant and not
<br />disclosed in writing to the Company by the Insured Claimant prior to the date the Insured Claimant became an Insured under this
<br />policy; 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
<br />Risk 11, 16, 17, 18, 19, 20, 21, 22, 23, 24, 27 or 28); or 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
<br />doing-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
<br />the Insured Mortgage and is based upon usury or any consumer credit protection or truth-in-lending law. This Exclusion does not
<br />modify or limit the coverage provided in Covered Risk 26.
<br />6. Any claim of invalidity, unenforceability or lack of priority of the lien of the Insured Mortgage as to Advances or modifications made after the Insured has Knowledge that the vestee shown in Schedule A is no longer the owner of the estate or interest covered by
<br />this policy. This Exclusion does not modify or limit the coverage provided in Covered Risk 11.
<br />7. Any lien on the Title for real estate taxes or assessments imposed by governmental authority and created or attaching subsequent
<br />to Date of Policy. This Exclusion does not modify or limit the coverage provided in Covered Risk 11(b) or 25.
<br />8. The failure of the residential structure, or any portion of it, to have been constructed before, on or after Date of Policy in
<br />accordance with applicable building codes. This Exclusion does not modify or limit the coverage provided in Covered Risk 5 or 6.
<br />9. Any claim, by reason of the operation of federal bankruptcy, state insolvency, or similar creditors' rights laws, that the transaction creating 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 27(b) of this policy.
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