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HomeMy WebLinkAboutRESOLUTIONS - 01312003 - 99-495 THE BOARD OF SUPERVISORS OF CONTRA COSTA COUNTY, CALIFORNIA Adopted this Resolution on September 14 , 1999, by t.--he following vote: AYES: SUPERVISORS GIOIA, UILKEMA, GERBER, DESAULNIER and CANCIAMILLA NOES: NONE ABSENT: NONE ABSTAIN: NONE RESOLUTION NO.: 99/495 SUBJECT: Approval of the Final Map and ACCEPT Grant Deed of Development Rights for Subdivision 8250, Rodeo area. The following documents were presented for Board approval this date: Map The Final Map of Subdivision 8250 property located in the Rodeo area, said map having been certified by the proper officials; Grant Deed of Development Rights Grant deed of Development Rights whereby Schuler Homes of California, Inc. is granting the development rights to Contra Costa County in lieu of complying with certain conditions of approval. {Ince those Conditions of Approval are satisfied the County will Grant the Development Rights back to Schuler Homes of California, Inc. NOW THEREFORE BE IT RESOLVED that said subdivision,together with the provisions for its design and improvement, is DETERMINED to be consistent with the County's general and specific plans; BE IT FURTHER RESOLVED that said Final Map is APPROVED and this Board does not accept or reject on behalf of the public any of the streets, paths, or easements shown thereon as dedicated to public use. BE IT FURTHER RESOLVED that said Grant Deed of Development Rights are .ACCEPTED. RL:df I hereby certify that this is a true and correct copy of an 0:\Crr{o.t&TngSvc\B0\1999180 8-17-99.tioc action taken and entered on the minutes of the Board of Orlgh-tor:Public Works(ES) Supervisors on the date shown. Contact: Rich Lierly(313-2348) cc: Public works-R.Bruno,Construction ATTESTED: SEPTEMBER- 14, 1999 Current Planning,Community Development Schuler Homos of California,Inc. PHIL BATCHELOR, Clerk of the Board of Supervisors Pine Suite and County Administrator Walnut Creek, ,C CA 945966 $ enuty AFTER RECORDING, RETURN TO: RECORDED AT REQUEST OF: CONTRA COSTA COUNTY Contra Costa County Public Works Public Works Department Department Engineering Services Division 255 Glacier Drive Martinez, CA 94553 GRANT DEED OF DEVELOPMENT RIGHTS This deed is made by and between Schuler Homes of California, Inc., a California Corporation ("Grantor") and Contra Costa County, a political subdivision of the state of California, and it successors or assigns, ("County"). RECITALS Grantor desires to file its final map for Subdivision 8250, a fifty-eight lot subdivision in the town of Rodeo,plus common areas shown on the Final Map for Subdivision 8250 which is to be recorded concurrently with this grant deed of development rights. Grantor desires to evidence its intent and to insure that it complies with Subdivision 8250's Conditions of Approval#7, 9, 10, 11, 12, 16, 17, 19, 30, 32, 33, and 40. County deems this grant deed of development rights to constitute substantial compliance with the Listed Conditions. NOW,THEREFORE, to secure full compliance with the Map Conditions, Grantor hereby grants to County and to its successors and assigns, all of the Development Rights as defined herein below, over the portion of property known as Subdivision 8250 situated in the unincorporated area of the County of Contra Costa, State of California, and more particularly described in attached Exhibit A(incorporated herein by this reference)and identified herein as Grantor's Property. 1. Development Rights. "Development Rights"are defined to mean and refer to the right to approve any proposed construction, development, or private improvements on all or any portion of Grantor's Property. 2. Negative Easement. This Grant Deed is in the form of a negative easement which shall run with said property and shall bind the current Grantor and any future owners of all or any portion of said property. This Grant.Deed is an agreement in writing affecting the title or possession of Grantor's Property. 3. Development Restrictions. Grantor shall not approve, allow, or construct any houses or any development or private improvements on all or any portion of the Grantor's property, except for road,grading,drainage improvements and public utilities. grantor agrees that it or its successors or assigns will not request building permits or other permits and no building permits or other permits shall issue for the purpose of constructing residential or other private improvements on all or any portion of Grantor's property except for grading,road, drainage improvements, and public utilities until the map conditions are satisfied and the reconveyance of development rights as set forth herein. Grantor hereby waives and relinquishes any rights it might otherwise have to such permits. In addition,Grantor shall not close escrow on the sale of any lots in Subdivision 8250 until the enactment of the special tax and the reconveyance of development rights as set forth herein. 4. Special Election. Grantor,at no expense to the County, shall proceed with and take all necessary steps to initiate and complete the special election process for the special tax and will vote to approve the special tax to supply funding to provide the extended police services. Grantor will submit its request to proceed with the special election, together with all necessary documentation,in a form acceptable to the County within thirty(30)days of the recording of this Grant Deed of Development Rights. 5. Notice to Buyers. Grantor shall give written notice to future buyers of any lot of all of the following: • A. Police Services District is in the process of being formed and that lots of Subdivision 8250 are within the proposed boundaries of said District; • B. An assessment will be levied annually on each lot to pay for extended police services, • C. The approximate amount of the assessment on each lot; and • D. Neither Grantor nor any future home buyer may request any building permits or close escrow on any lots or residential units until enactment of the special assessment. 6. Term of Grant of Development Rights. This Chant of Development Rights shall continue, as to Grantor's Property and every portion thereof,until such time as the Community Development Director, deems the conditions of approval for Subdivision 8250 to be satisfied, at which time grantor may request and County shall deliver to Grantor, its successors or assigns,an instrument in recordable form quit claiming these Development Rights. All expenses incurred to reconvey development rights to Grantor shall be paid by grantor. 7. Remedies. Should Grantor violate any of the provisions hereof, County shall be entitled to all rights and remedies available at law or in equity,including without limitation, an order enjoining the activity in violation hereof and an order requiring the removal of the improvements constructed in violation hereof. In addition, County shall be entitled to an award of all expenses incurred by County in pursing such violation(s), including costs, interest, attorneys' fees, and other litigation expenses. IN'WITNESS WHEREOF,this Grant Deed of Development Rights is signed and executed this _day of .lagi?' '°. ' 1999. GRANTOR Schuler Homes of California, Inc. 0-0 NQTA Mi el S. McKissick President t:vo OMM-W e Order No. 717378 Customer Reference: None Page No. 5 LEGAL DESCRIPTION REAL. PROPERTY in an unincorporated area, County of Contra Costa, State of California, described as follows: Portion of the Rancho EI Pinole, described as follows: Beginning on the East line of the parcel of land described in the Deed to Contra Costa County, recorded January 5, 1960, Book 3528, Official Records, Page 218, at the South line of Seventh Street, as designated on the Map of Rodeo, filed February 5, 1892, Map Book D, Page 91; thence from said point of beginning North 660 27' 45" East, along said South line, to the West line of the tract of land designated on the Map of Tract 2383, filed April 12, 1957, Map Book 67, Page 1; thence along the exterior line of the tract of land designated on said Map of Tract 2383 as follows. South 90 30' 21" East, 79.59 feet; southerly, along the arc of a curve to the left with a radius of 730 feet, an arc distance of 60.54 feet; South 140 51' 28" East, 448.28 feet; South 160 42' 14" East, 411.59 feet; South 200 10' East, 391.34 feet, southwesterly, along the arc of a curve to the left with a radius of 930 feet, an arc distance of 230.44 feet; South 52" 12' 56" West, 77.54 feet and westerly, along the arc of a curve to the right with a radius of 20 feet, to the East line of said Contra Costa County Parcel, 3258 OR 218; thence northerly, along said East line, to the point of beginning. EXCEPTING THEREFROM: 1. That portion thereof granted in the Deed to Contra Costa County Flood Control and Water Conservation District, recorded February 14, 1967, Book 5306, Official Records, Page 417. 2. The interest conveyed to Contra Costa County by Deed recorded January 5, 1960, Book 3528, Official Records, Page 210. 3. That portion thereof lying southerly of the South line of the parcel of land described in the Deed to Contra Costa County, recorded January 5, 1960, Book 3528, Official Records, Page 210. 4. That portion thereof conveyed to Contra Costa County by Deed recorded October 7, 1993, in Book 19026, Official Records, Page 608. A.P.No.: 357-120-012 First American Title CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT No,5907 State of CAllAprni ,. County of d0v1tjA= CO*tA- _ --- On M •o l •ql before me, DATE NAME,TITLE OF OFFICER-E. ANE DOE,NOTARY PUBLIC" personally appeared t 9 i-5-bi k NAME(S)OF SIGNER(S) personally known to me - OR - ❑ proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed to the within instrument and ac- knowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(S) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument. �. MICHELLE NG COMM. 1202191 WARY PUBLIC-GALIFOANIA CONTRA COSTA COUNTY WITNESS my hand and official seal. r My comm.EXOr"Nov.17,2002 I SI A URE OF NOTARY OPTIONAL Though the data below is not required by law, it may prove valuable to persons relying on the document and could prevent fraudulent reattachment of this form. CAPACITY CLAIMED BY SIGNER DESCRIPTION OF ATTACHED DOCUMENT ,.❑. 1 IVIDUAL L7 CORPORATE OFFICER �J��7� Y- ?get I oe�zr 6A .�`�' - TITLE OR TYPE OF DOCUMENT mu(s) ❑ PARTNER(S) ❑ LIMITED „ ❑ GENERAL ❑ ATTORNEY-IN-FACT NUMBER OF PAGES ❑ TRUSTEE(S) ❑ GUARDIAN/CONSERVATOR ❑ OTHER. DATE OF DOCUMENT SINNER IS REPRESENTING: NAME OF MRSON(S)OR ENTITY(IES) SIGNER(S)OTHER THAN NAMED ABOVE 01883 NATIONAL NOTARY ASSOCIATION-8238 Remmet Ave.,P.O.Box 7184-Canoga Park,CA 81308-7184 First .American Title Guaranty Company PRELIMINARY REPORT Note: Before the transaction contemplated by this report can be closed, the seller must furnish a correct Taxpayer Identification Number to us so that we can file an IRS Form 1099, or its equivalent, with the Internal Revenue Service. This procedure is required by Section 5045 of the Internal Revenue Code and the seller may be subject to civil or criminal penalties for failing to furnish a correct Taxpayer Identification Number. FURS)TAMERICAN t TITLE GUARANTY ALL INQUIRIES AND CORRESPONDENCE REGARDING THE ESCROW PERTAINING TO THE PROPERTY COVERED BY THE ATTACHED PRELIMINARY REPORT SHOULD BE DIRECTED TO THE ESCROW OFFICER WHOSE NAME APPEARS IN THE UPPER RIGHT HAND CORNER OF THE FOLLOWING PAGE AND WHOSE ADDRESS AND PHONE NUMBER ARE SET FORTH BELOW: First American Title Guaranty Company 1355 Willow Way, #100 Concord, CA 94520 (925) 355-7000 First American Title .insurance Company First Look Checklist Please call your Escrow Officer if your answer is `yes to any of the following questions: ♦Are your principals using a Power of Attorney? *Are any of the parties in title Incapacitated or Deceased? *Has a change in Marital Status occurred for any of the principals? ♦Will the property be transferred to a new Trust, Partnership or Corporation? +Do the sellers of the property reside out of California? ♦Is the property the subject of an Exchange? ♦Are the principals involved with a pending Bankruptcy? Remember, all parties signing documents must have a valid photo I.D. or Drivers License for a notarial acknowledgment. Thank you for helping First American Title Insurance Company serve you better 042399k1 APPLICANT: YOUR CONTACT PERSON IS : Cathy White CONTACT AT : (925) 358-7025 Schuler Homes FAX NO. : (925) 871-9471 1250 Pine Street, #302 Escrow Order No. : 717378 Walnut Creek, CA Title Order No. : 717378 UPDATE I Title Officer Sue Cushing Pratt/ss Customer Reference None Property Address Proposed Tract 8250 COPIES TO: NONE Subject to a minimum charge required by Section 12404 of the Insurance Code. The form of policy of title insurance contemplated by this report is: A CALIFORNIA LAND TITLE ASSOCIATION STANDARD COVERAGE POLICY- 1990 NOTE: A SPECIFIC REQUEST SHOULD BE MADE IF ANOTHER FORM OR ADDITIONAL COVERAGE IS DESIRED. In response to the referenced application for a policy of title insurance,this Company hereby reports that it is prepared to issue, or cause to be issued, as of the date hereof, a Policy of Title Insurance in the form specified above, describing the land and the estate or interest therein hereinafter set forth, insuring against loss which may be sustained by reason of any defect, lien or encumbrance not shown or referred to as an Exception below or not excluded from coverage pursuant to the printed Schedules, Conditions and Stipulations of said policy form. The printed Exceptions and Exclusions from the coverage of said Policy or Policies are attached. Copies of the Policy forms should be read. They are available from the office which issued this report. Please read the exceptions shown or referred to below and the exceptions and exclusions set forth in Exhibit A of this report carefully. The exceptions and exclusions are meant to provide you with notice of matters which are not covered under the terms of the title Insurance policy and should be carefully considered. It Is important to note that this preliminary report Is not a written representation as to the condition of title and may not list all liens,defects, and encumbrances affecting title to the land. This report(and any supplements or amendments thereto)is issued solely for the purpose of facilitating the issuance of a policy of title insurance and no liability is assumed hereby. If it is desired that liability be assumed prior to the issuance of a policy of title insurance, a Binder or Commitment should be requested. Title Operations Manager First American Title Order No. 717378 Customer Reference: None Page No. 2 Dated as of April 12, 1999 at 8:00 a.m. Title to said estate or interest at the date hereof is vested in: SCHULER HOMES OF CALIFORNIA, INC., a California corporation The estate or interest in the land hereinafter described or referred to covered by this Report is: A fee AT THE DATE HEREOF EXCEPTIONS TO COVERAGE IN ADDITION TO THE PRINTED EXCEPTIONS CONTAINED IN SAID POLICY FORM WOULD BE AS FOLLOWS: 1. PROPERTY TAXES,including any assessments collected with taxes,for the fiscal year 1999-2000, a lien not yet due or payable. 2. THE LIEN of supplemental taxes, if any, assessed pursuant to Chapter 3.5 commencing with Section 75 of the California Revenue and Taxation Code. 3. ANY SUPPLEMENTAL Tax which is due by reason of the instrument recorded April 12, 1999, Series No. 99-97547, Official Records. 4. EASEMENT for the purposes stated herein and incidents thereto Purpose Pole line Granted to Bay Counties Power Company Recorded March 1, 1907, Book 123 of Deeds, Page 405 Affects The exact location of said easement is not defined of record 5. EFFECT of Ordinance No. 90-50, by the Board of Supervisors of Contra Costa County approving and adopting the Redevelopment Plan for the Rodeo Redevelopment Project, recorded July 12, 1990, Book 15981, Page 189, Official Records, and amendment recorded December 14, 1994, Series No. 94-294410, Official Records. 6. EASEMENT for the purposes stated herein and incidents thereto Purpose : Roadway embankments and slopes Granted to Contra Costa County, a political subdivision of the State of California Recorded April 27, 1995, Series No. 95-67730, Official Records Affects Westerly portions of said land 7. TERMS, conditions and provisions contained in the License Agreement for Rodeo Creek Recreational Trail Improvements By : Ruth T. Claeys Trustee of the Ruth T. Claeys LVTST, and David R. Claeys, County of Contra Costa, a political subdivision and the Contra Costa County Flood Control and Water Conservation District Recorded March 13, 1997, Series No. 97-40376, Official Records. 8. TERMS, conditions and provisions contained in the Ordinance No. 97-22, Adoption of West Contra Costa Subregional Transportation Mitigation Fees Recorded August 20, 1997, Series No. 97-150589, Official Records. First American Title Order No. 717378 Customer Reference: None Page No. 3 9. THE HEREIN described property lies within the boundaries of the Rodeo Redevelopment Project, as adopted February 23, 1999, under Ordinance No. 99-08, a copy of which recorded March 15, 1999, Series No. 70073, Contra Costa County Official Records. The premise herein are subject to all the terms and provisions therein. INFORMATIONAL NOTES A. LENDER'S SPECIAL INFORMATION According to the public records, there have been no deeds conveying the herein described property recorded within two years prior to the date thereof except as follows: QUITCLAIM DEED From : David Claeys, as to an undivided one-half (1/2) interest To : David R. Claeys and Cynthia L. Claeys as Trustees U/T/A dated July 3, 1997 known as The David R. Claeys and Cynthia L. Claeys Trust Recorded July 21, 1997, Series No. 97-126649, Official Records. GRANT DEED From Ruth T. Claeys, Trustee of the Ruth T. Claeys Living Trust, under Agreement dated September 29, 1992; and David R. Claeys and Cynthia L. Claeys, as Trustees U/"f/A dated July 3, 1997, known as The David R. Claeys and Cynthia L. Claeys Trust To : Schuler Homes of California, Inc., a California corporation Recorded April 12, 1999, Series No. 99-97547, Official Records. B. TAX NOTE BOTH installments of taxes for the fiscal year 1998-1999 have been paid in full 1st installment : $1,304.51 2nd Installment : $1,304.51 Land $244,793.00 Improvements : None Personal Property : None Exemption : None A. P. No. 357-120-012 Code Area 62058 Said matter affects this and other property. C. LAST insured transaction on 4-12-99. D. COLLECT $10.00 user fee for each Grant Deed for County Monument Preservation Fund. E. PURSUANT to California State Law, the County Recorder will no longer accept witness acknowledgments on any deeds, deeds of trust, mortgages or other security instruments. First American Title Order No. 717378 Customer Reference: None Rage No. 4 F. WIRE INFORMATION FOR ESCROWS BEING HANDLED IN CONTRA COSTA COUNTY ONLY. The following information should be used for all funds to be wired for this order. Please include the Escrow Officer's Name and Escrow Number when wiring funds to: Union Bank, Los Angeles Branch 715 1980 Saturn Street Monterey Park, CA 91755 ABA#122000496 Credit: First American Title Guaranty Company Account#7150082034 Re: Escrow No.: 717378 Escrow Officer: Cathy White First American Title Order No. 717378 Customer Reference: None Page No. 5 LEGAL DESCRIPTION REAL PROPERTY in an unincorporated area, County of Contra Costa, State of California, described as follows: Portion of the Rancho EI Pinole, described as follows: Beginning on the East line of the parcel of land described in the Deed to Contra Costa County, recorded January 5, 1960, Book 3528, Official Records, Page 218, at the South line of Seventh Street, as designated on the Map of Rodeo, filed February 5, 1892, Map Book D, Page 91; thence from said point of beginning North 660 27' 45" East, along said South line, to the West line of the tract of land designated on the Map of Tract 2383, filed April 12, 1957, Map Book 67, Page 1; thence along the exterior line of the tract of land designated on said Map of Tract 2383 as follows: South 90 30' 21" East, 79.59 feet; southerly, along the arc of a curve to the left with a radius of 730 feet, an arc distance of 60.54 feet; South 140 51' 28" East, 448.28 feet; South 160 42' 14" East, 411.59 feet; South 200 10' East, 391.34 feet, southwesterly, along the arc of a curve to the left with a radius of 930 feet, an arc distance of 230.44 feet; South 520 12' 56" West, 77.54 feet and westerly, along the arc of a curve to the right with a radius of 20 feet, to the East line of said Contra Costa County Parcel, 3258 OR 218; thence northerly, along said East line, to the point of beginning. EXCEPTING THEREFROM: 1. That portion thereof granted in the Deed to Contra Costa County Flood Control and Water Conservation District, recorded February 14, 1967, Book 5306, Official Records, Page 417. 2. The interest conveyed to Contra Costa County by Deed recorded January 5, 1960, Book 3528, Official Records, Page 210. 3. That portion thereof lying southerly of the South line of the parcel of land described in the Deed to Contra Costa County, recorded January 5, 1960, Book 3528, Official Records, Page 210. 4. That portion thereof conveyed to Contra Costa County by Deed recorded October 7, 1993, in Book 19026,Official Records, Page 608. A.P.No.: 357-120-012 to+r First American Title NOTICE 1 Section 12413.1 of the California Insurance Code,effective January 1,1890,requires that any title insurance company, underwritten title company, or controlled escrow company handling funds in an escrow or sub-escrow capacity, wail a specified number of days after depositing funds, before recording any documents in connection with the transaction or disbursing funds. This statute allows for funds deposited by wire transfer to be disbursed the same day as deposit. In the case of cashier's checks or certified checks, funds may be disbursed the next day after deposit. In order to avoid unnecessary delays of three to seven days, or more, please use wire transfer, cashier's checks, or certified checks whenever possible. If you have any questions about the effect of this new law, please contact your local First American office for more details. NOTICE It As of January 1, 1891, 0 the transaction which is the subject of this report will be a sale, you,as a party to the transaction, may have certain tax reporting and withholding obligations pursuant to the state law referred to below: In accordance with Sections 18662 and 18699 of the Revenue and Taxation Code,a buyer may be required to withhold an amount equal to three and one-third percent of the sales price in the case of the disposition of California real property interest by either: 1. A seller who is an individual with a last known street address outside of California or when the disbursement instructions authorize the proceeds be sent to a financial intermediary of the seller, OR 2. A corporate seller which has no permanent place of business in California. The buyer may become subject to penalty for failure to withhold an amount equal to the lesser of 10 percent of the amount required to be withheld or fire hundred dollars (5500). However, notwithstanding any other provision included in the California statutes referenced above, no buyer will be required to withhold any amount or be subject to penalty for failure to withhold if: 1. The sales price of the California real property conveyed does not exceed one hundred thousand dollars (100,000), OR 2. The seller executes a written certificate, under the penalty of perjury, certifying that the seller is a resident of California, or if a corporation, has a permanent place of business in California, OR 3. The seller,who is an individual, executes a written certificate, under the penalty of perjury, that the California real property being conveyed is the sailer's principal residence (as defined in Section 1034 of the Internal Revenue Code). The sailer is subject to penalty for knowingly filing a fraudulent certificate for the purpose of avoiding the withholding requirement. The California statutes referenced above include provisions which authorize the Franchise Tax Board to grant reduced withholding and waivers from withholding on a case-by-case basis. The parties to this transaction should seek an attorney's, accountant's, or other tax specialist's opinion concerning the effect of this law on this transaction and should not act on any statements made or omitted by the escrow or closing officer. THE SELLER MAY REQUEST A WAIVER BY CONTACTING: Franchise Tax Board Withhold at Source Unit P.O. Box 651 Sacramento, CA 95612-0651 (916) 845-4900 Oro 0%A0 -50 ;S � M0 el -0 G?M- , tp N d icp-y t;y Gf r k{ t s i4 rr � t tYr Y JK Y r� \\ •• 'N �► l 9l� r 4. AMERICAN LAND TITLE ASSOCIATION LOAN POLICY- 1870 WITH;*.L.T.A.ENDORSEMENT FORM 1 COVERAGE SC. )ULE OF EXCLUSIONS FROM COVERAGE Any law,ordinance or govemmental regulation(including but not limited to building and zoning ordinances)restricting or regulating or prohibiting the occupancy,use or enjoyment of the land,or regulating the character,dimensions or location of any Improvement now or hereafter erected on the tend,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 or governmental regulation. Rights of eminent domain or governmental rights of police power unless notice of the exercise of such rights appears in the public records at Date of Policy. 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 and not shown by the public records but known to the insured claimant either at Data of Policy or at the date such claimant acquired an estate or interest insured by this popsy or aequirad the insured mortgage and not disclosed in writing by the'insured claimant to the Company prior to the date such insured claimant became an Insured hereunder;(c)resulting in no loss or damage to the insured claimant; (d)attaching or created subsequent to Crate of policy(except to the extent Insurance is afforded herein as to any statutory lion for labor or material or to the extent insurance is afforded herein as to assessments for street improvements under construction or completed at Date of Policy). Unenforceability of the pen of the insured mortgage because of failure of this insured at Date 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 tenders Policy is used as a Standard Coverage Policy and not as an Extended Coverage Policy, the exclusions set forth in paragraph 4 above are used and the following exceptions to coverage appear in the policy SCHEDULE B This policy does not insure against loss or damage by reason of the matters shown in parts one and two following: 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. Essamonts,claims of easement or encumbrances which are not shown by the public records. 4. Discrepancies,confirm in boundary Ones, 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 tltie to water. 6. Any lien,or right to a lien,for services,tabor or material theretofore or hereafter furnished,imposed by taw and not shown by the public records. 5. 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 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: t. (a) Any taw,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; (p)the character,dimensions or location of any improvement now or hereafter erected on the land;(pi) 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(€v)environmental protection,or the effect of any violation of these laws,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,lion 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 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 Data 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 bscame an insured under this policy; (c) resulting in no loss or damage to the insured claimant; (d) attaching or created subsequent to Date of Policy (except to the extent that this policy insures the priority of the lien of the insured mortgage over any statutory lien for services,tabor or material or the extent insurance is afforded herein as to assessments for street improvements under construction or completed at date of policy);or (a) resulting in loss or damage which would not have been sustained If the insured claimant had paid value for the insured mortgage, 4. Unanforceability of the ban of the insured mortgage because of the inability or failure of the insured at Date of Policy, or the inability or failure of any subsequent owner of the indebtedness,to comply with applicable"doing business"laws of the state in which the land is situated. S. Invalidity or unenforceability of the lion of the insured mortgage, or claim thereof,which arises out of the transaction evidenced by the insured mortgage and is based upon usury or any consumer credit protection or truth in lending law. 6. Any statutory pen for services,tabor or materials(or the claim of priority of any statutory pen for services,tabor or materials over the Oen of the Insured mortgage)arising from an improvement or work related to the land which is contracted for and commenced subsequent to Date of Policy and is not financed in whole or in part by proceeds of the indebtedness secured by the Insured mortgage which at Date of Policy the insured has advanced or is obligated to advance. 7. Any claim,which arises out of the transaction creating the interest of the mortgages insured by this policy,by reason of the operation of federal bankruptcy,state insolvency, or similar creditors'rights laws,that is based on: (€) the transaction creating the interest of the insured mortgagee being deemed a fraudulent conveyance or fraudulent transfer;or (€€) the subordination of the Interest of the insured mortgagee as a result of the application of the doctrine of equitable subordination:or (i€i) the transaction creating the interest of the Insured mortgagee 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 lion creditor. 7. AMERICAN LAND TITLE ASSOCIATION LOAN POLICY-1992 WiTH REGIONAL EXCEPTIONS Wben the American Land Title Association policy is used as a Standard Coverage Policy and not as an Extended Coverage Policy the exclusions set forth in paragraph 6 above are used and the following exceptions to coverage appear in the policy. SCHEDULE 8 This policy doffs not insure against loss or damage(and the`' Deny will not pay costs,attorneys'fees or expenses)which:prise by reason of. 1. Taxes or assessments which are not shown as existing It jy the records of any taxing authority that levies taxes or ,sments on real property or by the public records. 2. Any#acts,rights, Interests,or claims which are not shown by the public records but which could be ascertained by an ima fiction 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 title to water. 8. Any Tian, 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 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 toning laws,ordinances,or regulations) restricting,regulating,prohibiting or relating to(1) 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,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 ancumbranee resoling 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 occurred prior to Date of Policy which would be binding on the rights of a purchaser for value without knowledge. 3. Defects,lions, encumbrances,adverse claims or other matters: (a) craated,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 or damage to the insured claimant; (d) attaching or created subsequent to Date of Policy; or (a) 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. 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 toeing deemed a preferential transfer except where the preferential transfer results from the failure: (a)to limey record the instrument of transfer;or (b)of such recordation to impart notice to a purchaser for value or a judgment or lien creditor. 9. AMERICAN LAND TITLE ASSOCIATION OWNER'S POLICY- 1992 WITH REGIONAL EXCEPTIONS Men the American Land Title 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, SCHEDULE 8 This policy does not insure against loss or damage(and the Company will not pay costs,attorneys'fees or expenses)which arise by reason of: Part One: 1. Taxes or assessments which are not shown as existing Hans by the records of any taxing authority that levies taxes or assessments or 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,cielms 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 Acis authorizing the issuance thereof;water rights,claims or title to water. 6. Any lion, or right to a lien, for services,labor or material theretofore or hereafter furnished, imposed W law and not shown by the public records. 10. AMERICAN LAND TITLE ASSOCIATION RESIDENTIAL TITLE INSURANCE POLICY- 1397 EXCLUSIONS In addition to the Exceptions in Schedule 8,you are not insured against loss,costs,attorneys'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 appy to violations or the enforcement of those 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 This Risks. 2. The right to take the land by condemning it,unless •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 it you bought the land without knowing of the taking. 3. Tice 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 los3 to you •that first affect your title after the Policy Date-this does not limit the labor and material Hen coverage in Item 8 of Covered This Risks 4. Failure to pay value. 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,alloys, or waterways that touch your land This exclusion does not limit the access coverage in Item 5 of Covered Title Risks