HomeMy WebLinkAboutPreliminary Titile Report - UP14-0009 Order No. 150-1587541-16
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Orange Coast Title Company
2411 W. La Palma Ave #300 Anaheim, CA 92801 714-822-3211
PRELIMINARY REPORT
Complete Wireless
2009 V Street
Sacramento, CA 95818
Attention: Deborah Gigliotti Your no.: Afton Road
Property address: 4409 Aguas Frias Road, in an unincorporated area known
as Durham, County of Butte, State of CA95938.
Order no.: 150-1587541-16
Dated: August 7, 2014
In response to the above referenced application for a policy of title insurance, Orange Coast Title Company hereby reports that it is
prepared to issue, or cause to be issued, as of the date hereof, a Policy or Policies of Title Insurance 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 forms.
The printed Exceptions and Exclusions from the coverage and Limitations on Covered Risks of said policy or policies are set forth in
Exhibit B attached. The policy to be issued may contain an arbitration clause. When the Amount of Insurance is less than that set forth
in the arbitration clause, all arbitrable matters shall be arbitrated at the option of either the Company or the Insured as the exclusive
remedy of the parties. Limitations on Covered Risks applicable to the CLTA and ALTA Homeowner’s Policies of Title Insurance
which establish a Deductible Amount and a Maximum Dollar Limit of Liability for certain coverages are also set forth in Exhibit B.
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 B 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 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 hereto) 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.
Dated as of July 21, 2014 at 7:30 AM
_____________________________________________________
Roger Reinhard, Title Officer
Ph: 714-822-3211
Email: rogerr@octitle.com
The form of policy of title insurance contemplated by this report is:
The Policy of Title Insurance, if issued, will be underwritten by:
Order No. 150-1587541-16
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Schedule “A”
The estate or interest in the land hereinafter described or referred to covered by this report is:
A Fee
Title to said estate or interest at the date hereof is vested in:
Harris Landowning Corp., a California Corporation
The land referred to in this report is situated in the County of Butte, State of California, and is described as follows:
The East half of Fractional Section 28, Township 19 North, Range 1 East, M.D.B. & M.
Excepting therefrom a right of way for a drainage ditch over a portion of said lands, which portion is described in a decree of
Condemnation entered in the Superior Court of the State of California in and for the County of Butte, a Certified Copy of which
decree was recorded April 12, 1920, in Book 184 of Deeds, Page 348, Butte County Records, said strip of land being described as
follows:
Also excepting therefrom that portion deeded to Richvale Irrigation District in deed recorded March 6, 1967, in Book 1462, Page 599,
Official Records.
Assessor's Parcel Numbers(s): 029-060-020
Order No. 150-1587541-16
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Schedule “B”
At the date hereof exceptions to coverage in addition to the printed exceptions and exclusions contained in said policy form
would be as follows:
1 General and Special taxes for the fiscal year 2014-2015, including any assessments collected with taxes. A lien not yet
payable.
First installment due and payable November 1, 2014, delinquent if not paid by 12/10/14
Second installment due and payable February 1, 2015, delinquent if not paid by 4/10/15
2 The following taxes have all been paid and are reported for proration purposes only. General and Special taxes for the fiscal
year 2013-2014.
Total amount $11,339.98
1st installment $5,669.99
2nd installment $5,669.99
Code area 057-038
Parcel No. 029-060-020-000
Exemption $0.00
3 The Lien of future supplemental taxes, if any, assessed pursuant to the provisions of section 75, et seq of the revenue and
taxation code of the state of California
4 Prior to close this company will require the Tax Collector's Office be contacted to verify open and delinquent taxes.
5 Rights of the public in and to any portion of said land lying within any lawfully established streets, roads or highways.
6 A public easement for navigation and the incidents of navigation such as boating, fishing, swimming, hunting and other
recreational uses in and under thr Butte Creek and including a public right of access to the water.
7 An easement for purposes herein stated, and rights incidental thereto as provided in an instrument
Recorded: 02/24/1954, in Book 727, Page 286, Official Records
For: Right of way and ingress and egress for the construction and maintenance of the channel of
Butte Creek including embankments, ditches and incidental purposes
In favor of: Sacramento and San Joaquin Drainage District, its successors and assigns
Affects: more particularly described in the above mentioned.
NOTE: Reference is made to said document for full particulars.
A waiver of any claim for damages to said land by reason of the location, construction, landscaping or maintenance of said
channel embankments and/or structures thereto, as more particularly described in the above mentioned document.
8 A Land Conservation Contract by and between the owner of said land and teh County of Butte which provides that said land
be included within the herein after named preserve or district, recorded 2/23/1978, in Book 2258, Page 700, of Official
Records.
Dated: 12/13/1977
Owner: Harris Landowning Corporation
Preserve or District: Butte County - Agricultural Preserve No. 3
Said matter affects the herein described land and other land.
Order No. 150-1587541-16
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9 An Oil and Gas Lease affecting this and other property executed by the owner of said land and by others as owners of other
land, for the term and upon the terms, covenants and provisions therein provided
Recorded: 11/24/1982, as Instrument No. in Book 2773, Page 143, Official Records.
Dated: 08/04/1982
Term: (As described therein) years from date hereof and any other term as provided for therein
Lessor: Harris Landowning Corporation, a California Corp.
Lessee: Ogle Petroleum, Inc., a Delaware Corporation
The present ownership of said leasehold and other matters affecting the interest of the lessee are not shown herein.
Said matter affects the herein described land and other land.
10 A Deed of Trust to secure the indebtedness of
Amount: $452,000.00
Trustor: Harris Landowning Corp., a California Corporation
Trustee: Northern California Federal Land Bank Association, FLCA
Beneficiary: Northern California Federal Land Bank Association, FLCA
Dated: 12/10/1996
Recorded: 12/30/1996 as Instrument No. 96-048493, Official Records.
Said matter affects the herein described land and other land.
11 An easement for purposes herein stated, and rights incidental thereto as provided in an instrument
Recorded: 10/16/1997, as Instrument No. 97-038892, Official Records
For: The right to excavate, install, replace and maintain canals, conduits and incidental purposes
In favor of: Western Canal Water District
Affects: more particularly described in the above mentioned.
NOTE: Reference is made to said document for full particulars.
Said matter affects the herein described land and other land.
12 Rights of parties in possession of said land by reason of unrecorded leases, if any. Please forward said leases for our
examination.
13 This company will require the following in order to insure title in, or a conveyance or encumbrance from the entity named
below.
Name: Harris Landowning Corp., a California Corporation
(a) A copy of the by-laws or articles of association (sometimes known as the "agreement" or "charter").
(b) A copy of the resolution of the association approving the present transaction and identifying the subject land. The
resolution should also state that the transaction is necessary for the business purposes of the association and should name the
parties who are authorized to execute documents for the association.
(c) Articles of incorporation
14 Please Note: We have completed a search for Patriot Act on the following entity; Harris Landowning Corp, a California
Corporation; through our database systems available where no results were currently found
15 NOTE: This report is a prelim only with no title insurance contemplated. Although we believe the information
contained in this report is accurate to best of our knowledge, the liability is limited to twice the amount paid for
such report.
End of Schedule B
Order No. 150-1587541-16
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“NOTES AND REQUIREMENTS SECTION”
Note No. 1
California Revenue and Taxation Code Section 18662, effective January 1, 1994 and by amendment effective January 1, 2003,
provides that the buyer in all sales of California Real Estate may be required to withhold 3 and 1/3% of the total sales price as
California State Income Tax, subject to the provisions of the law as therein contained.
NOTE NO. 2 PAYOFF INFORMATION:
Note: this company does require current beneficiary demands prior to closing.
If the demand is expired and a correct demand cannot be obtained, our requirements will be as follows:
A. If this company accepts a verbal update on the demand, we may hold an amount equal to one monthly mortgage payment.
The amount of this hold will be over and above the verbal hold the lender may have stipulated.
B. If this company cannot obtain a verbal update on the demand, will either pay off the expired demand or wait for the amended
demand, at the discretion of the escrow.
C. In the event that a payoff is being made to a servicing agent for the beneficiary, this company will require a complete copy of
the servicing agreement prior to close.
Note No. 3
If this company is requested to disburse funds in connection with this transaction, chapter 598, statutes of 1989 mandates hold periods
for checks deposited to escrow or sub-escrow accounts. The mandatory hold is one business day after the day deposited. Other checks
require a hold period from three to seven business days after the day deposited.
Notice Regarding Your Deposit of Funds
California Insurance Code Sections 12413 et. Seq. Regulates the disbursement of escrow and sub-escrow funds by title companies.
The law requires that funds be deposited in the title company escrow and sub-escrow accounts and be available for withdrawal prior to
disbursement. Funds deposited with the Company by wire transfer may be disbursed upon receipt. Funds deposited with the Company
via cashier’s checks drawn on a California based bank may be disbursed the next business day after the day of deposit. If funds are
deposited with by other methods, recording or disbursement may be delayed. All escrow and sub-escrow funds received by the
Company will be deposited with other funds in one or more non-interest bearing escrow accounts of the Company in a financial
institution selected by the Company. The Company and/or its parent company may receive certain direct or indirect benefits from the
financial institution by reason of the deposit of such funds or the maintenance of such accounts with the financial institution, and the
Company shall have no obligation to account to the depositing party in any manner for the value of, or to pay such party, any benefit
received by the Company and/or its parent Company. Those benefits may include, without limitation, credits allowed by such
financial institution on loans to the Company and/or its parent company and earnings on investments made on the proceeds of such
loans, accounting, reporting and other services and products of such financial institution. Such benefits shall be deemed additional
compensation of the Company for its services in connection with the escrow or sub-escrow. If funds are to be deposited with Orange
Coast Title Company by wire transfer, they should be wired to the following bank/account:
Wiring Instructions for This Office:
Citizens Business Bank
301 Vanderbilt Way
San Bernardino, CA 92408
Account No. 245123027
ABA 122234149
Account name: Orange Coast Title Company
Reference Title Order No. 150-1587541-16
and Roger Reinhard, Title Officer
Note No. 4: The premium for the requested title work shall be split between the agent and underwriter 88%-12%.
Order No. 150-1587541-16
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Orange Coast Title Company
2411 W. La Palma Ave #300
Anaheim, CA 92801
714-822-3211
To Be Determined
TBD
Anaheim, CA 92801
Attention: Loan Processor
Borrower: Harris Landowning Corp.
Lenders supplemental report
The above numbered report (including any supplements or amendments thereto) is hereby modified and/or supplemented in order to
reflect the following additional items relating to the issuance of an American Land Title Association loan policy form as follows:
A. This report is preparatory to this issuance of an American Land Title Association loan policy of title insurance. This
report discloses nothing, which would preclude the issuance of said American land title association loan policy of title
insurance with endorsement no. 100 attached thereto.
B. The improvements on said land are designated as:
Vacant Land
4409 Aguas Frias Road, in an unincorporated area known as Durham, County of Butte, State of California.
C. Our search of the public records revealed conveyance(s) affecting said land recorded within 24 months of the date of
this report are as follows:
None.
Order No. 150-1587541-16
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Attention
Please note that this preliminary report now has an extra copy of the legal description on a separate sheet of paper. There are no
markings on the page. The idea is to provide you with a legal description that can be attached to other documents as needed. That
legal description page immediately follows this page.
Thank you for your support of Orange Coast Title Company. We hope that this makes your job a little easier.
Order No. 150-1587541-16
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Exhibit “A”
The East half of Fractional Section 28, Township 19 North, Range 1 East, M.D.B. & M.
Excepting therefrom a right of way for a drainage ditch over a portion of said lands, which portion is described in a decree of
Condemnation entered in the Superior Court of the State of California in and for the County of Butte, a Certified Copy of which
decree was recorded April 12, 1920, in Book 184 of Deeds, Page 348, Butte County Records, said strip of land being described as
follows:
Also excepting therefrom that portion deeded to Richvale Irrigation District in deed recorded March 6, 1967, in Book 1462, Page 599,
Official Records.
Order No. 150-1587541-16
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CLTA Preliminary Report Form – Exhibit B (06-03-11)
CLTA STANDARD COVERAGE POLICY – 1990
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 or zoning laws, ordinances, or regulations) restricting, regulating, prohibiting or relating (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, 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 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 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) whether or not recorded in the public records at Date of Policy, but 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 or 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 insured mortgage or for the estate or interest insured by this policy. 4. Unenforceability of the lien 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 the applicable doing business laws of the state in which the land is situated. 5. Invalidity or unenforceability of the lien 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 claim, which arises out of the transaction vesting in the insured the estate of interest insured by this policy or the transaction creating the interest of the insured lender, by reason of the operation of federal bankruptcy,
state insolvency or similar creditors' rights laws.
EXCEPTIONS FROM COVERAGE - SCHEDULE B, PART I 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: 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. Proceedings by a public agency which 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. 2. Any facts, rights, interests, or claims which are not shown by the public records but which could be ascertained by an inspection of the land or which may be asserted by persons in possession thereof. 3. Easements, liens or encumbrances, or claims thereof, 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 the public records. 5. (a) Unpatented mining claims; (b) reservations or exceptions in patents or in Acts authorizing the issuance thereof; (c) water rights, claims or title to water, whether or not the matters excepted under (a), (b) or (c) are shown by the public records. 6. Any lien or right to a lien for services, labor or material not shown by the public records.
CLTA/ALTA HOMEOWNER'S POLICY OF TITLE INSURANCE (02/03/10)
EXCLUSIONS
In addition to the Exceptions in Schedule B, You are not insured against loss, costs, attorneys' fees, and expenses resulting from:
1. Governmental police power, and the existence or violation of those portions of any law or government regulation concerning: a.building, b. zoning, c.land use d. improvements on the Land, e.land division; and ,f.
environmental protection. This Exclusion does not limit the coverage described in Covered Risk 8.a., 14, 15, 16, 18, 19, 20, 23 or 27.
2. The failure of Your existing structures, or any part of them, to be constructed in accordance with applicable building codes. This Exclusion does not limit the coverage described in Covered Risk 14 or 15. 3. The right to take the Land by condemning it. This Exclusion does not limit the coverage described in Covered Risk 17. 4. Risks: a. that are created, allowed, or agreed to by You, whether or not they recorded in the Public Records; b. that are Known to You at the Policy Date, but not to Us, unless they are recorded in the Public Records at the Policy Date; c. that result in no loss to You; or d. that first occur after the Policy Date - this does not limit the coverage described in Covered Risk 7, 8.e, 25, 26, 27, or 28. 5. Failure to pay value for Your Title.
6. Lack of a right: a. to any land outside the area specifically described and referred to in paragraph 3 of Schedule A; and b. in streets, alleys, or waterways that touch the Land. This Exclusion does not limit the
coverage described in Covered Risk 11 or 21.
7. The transfer of the Title to You is invalid as a preferential transfer or as a fraudulent transfer or conveyance under federal bankruptcy, state insolvency, or similar creditors’ rights laws.
LIMITATIONS ON COVERED RISKS
Your insurance for the following Covered Risks is limited on the Owner’s Coverage Statement as follows: • For Covered Risk 16, 18, 19, and 21 Your Deductible Amount and Our Maximum Dollar Limit of Liability shown in Schedule A. The deductible amounts and maximum dollar limits shown on Schedule A are as follows: Your Deductible Amount Our Maximum Dollar Limit of Liability Covered Risk 16: 1 % of Policy Amount shown in Schedule A or $ 2,500 (whichever is less) $ 10,000 Covered Risk 18: 1 % of Policy Amount shown in Schedule A or $ 5,000 (whichever is less) $ 25,000 Covered Risk 19: 1 % of Policy Amount shown in Schedule A or $ 5,000 (whichever is less) $ 25,000 Covered Risk 21: 1 % of Policy Amount shown in Schedule A or $ 2,500 (whichever is less) $ 5,000
ALTA RESIDENTIAL TITLE INSURANCE POLICY (6-1-87)
EXCLUSIONS In addition to the Exceptions in Schedule B, 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 * improvements on the land * land division * 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 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 if you bought the land without knowing of the taking 3. Title 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 title 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 title. 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.
2006 ALTA LOAN POLICY (06-17-06)
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 those relating to building and zoning) restricting, regulating, prohibiting or relating to (i) the occupancy, use, or enjoyment of the land; (ii) the character,
dimensions or location of any improvement erected on the Land; (iii) the subdivision of land; or (iv) environmental protection; or the effect of any violation of these laws, ordinances or governmental regulations. This
Exclusion 1(a) does not modify or limit the coverage provided under Covered Risk 5.
2. Rights of eminent domain. This Exclusion does not modify or limit the coverage provided under Covered Risk 7 or 8.
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 or damage to
the Insured Claimant; (d) attaching or created subsequent to Date of Policy (however, this does not modify or limit the coverage provided under Covered Risk 11, 13 or 14);or(e) resulting in loss or damage that would not have been sustained if the Insured Claimant had paid value for the Insured Mortgage. 4. Unenforceability of the lien of the Insured Mortgage because of the inability or failure of an Insured to comply with applicable doing-business laws of the state in which the Land is situated. 5. Invalidity or unenforceability in whole or in part of the lien of the Insured Mortgage that 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 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 (a) a fraudulent conveyance or fraudulent
transfer, or (b) a preferential transfer for any reason not stated in Covered Risk 13(b) of this policy.
7. Any lien on the Title for real estate taxes or assessments imposed by governmental authority and created or attaching between Date of Policy and the date of recording of the Insured Mortgage in the Public Records. This
Exclusion does not modify or limit the coverage provided under Covered Risk 11(b):
EXCEPTIONS FROM COVERAGE
This policy does not insure against loss or damage (and the Company will not pay costs, attorneys' fees or expenses) that arise by reason of:
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. 2.Any facts, rights, interests or claims which 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. 3.Easements, liens or encumbrances, or claims thereof, not shown by the Public Records. 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. 5.(a) Unpatented mining claims; (b) reservations or exceptions in patents or in Acts authorizing the issuance thereof; (c) water rights, claims or title to water, whether or not the matters excepted under (a), (b) or (c) are
shown by the Public Records.
6. Any lien or right to a lien for services, labor or material not shown by the public records.
2006 ALTA OWNER’S POLICY (06-17-06)
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 that arise by reason of:
Order No. 150-1587541-16
Page 10
1. (a) Any law, ordinance, permit, or governmental regulation (including those relating to building and zoning) restricting, regulating, prohibiting, or relating to: (i) the occupancy, use, or enjoyment of the Land; (ii)
the character, dimensions, or location of any improvement erected on the Land; (iii) the subdivision of land; or (IV) environmental protection; or the effect of any violation of these laws, ordinances, or governmental
regulations. This Exclusion 1(a) does not modify or limit the coverage provided under Covered Risk 5. (b) Any governmental police power. This Exclusion 1(b) does not modify or limit the coverage provided under
Covered Risk 6.
2. Rights of eminent domain. This Exclusion does not modify or limit the coverage provided under Covered Risk 7 or 8.
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 or damage to the Insured Claimant; (d) attaching or created subsequent to Date of Policy (however, this does not modify or limit the coverage provided under Covered Risk 9 and 10); or (e) resulting in loss or damage that would not have been sustained if the Insured Claimant had paid value for the Title. 4. Any claim, by reason of the operation of federal bankruptcy, state insolvency, or similar creditors’ rights laws, that the transaction vesting the Title as shown in Schedule A, is (a) a fraudulent conveyance or fraudulent transfer; or (b) a preferential transfer for any reason not stated in Covered Risk 9 of this policy.
5. Any lien on the Title for real estate taxes or assessments imposed by governmental authority and created or attaching between Date of Policy and the date of recording of the deed or other instrument of transfer in the Public
Records that vests Title as shown in Schedule A.
The above policy form may be issued to afford either Standard Coverage or Extended Coverage. In addition to the above Exclusions from Coverage, the Exceptions from Coverage in a Standard Coverage policy will also
include the following Exceptions from Coverage:
EXCEPTIONS FROM COVERAGE
This policy does not insure against loss or damage (and the Company will not pay costs, attorneys’ fees or expenses) that arise by reason of: 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. 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. 3. Easements, liens or encumbrances, or claims thereof, not shown by the Public Records. 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 that are not shown by the Public Records.
5. (a) Unpatented mining claims; (b) reservations or exceptions in patents or in Acts authorizing the issuance thereof; (c) water rights, claims or title to water, whether or not the matters excepted under (a), (b), or (c) are
shown by the Public Records.
6. Any lien or right to a lien for services, labor or material not shown by the public records.
ALTA EXPANDED COVERAGE RESIDENTIAL LOAN POLICY (07-26-10)
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, permit, or governmental regulation (including but not limited to building and zoning) restricting, regulating, prohibiting or relating to (i) the occupancy, use, or enjoyment of the Land; (ii) the
character, dimensions or location of any improvement erected on the Land; (iii) the subdivision of the land; or (iv) environmental protection, or the effect of any violation of these laws, ordinances or governmental regulations This Exclusion 1(a) does not modify or limit the coverage provided under Covered Risks 5, 6, 13(c), 13(d), 14, and 16.(b) Any governmental police power. This Exclusion 1(b)does not modify or limit the coverage provided under Covered Risks 5, 6, 13(c), 13(b), 14, and 16. 2. Rights of eminent domain. This Exclusion does not modify or limit the coverage provided under Covered Risk 7 or 8. 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 or
damage to the Insured Claimant;(d) attaching or created subsequent to Date of Policy (however, this does not modify or limit the coverage provided under Covered Risks 11, 16, 17, 18, 19, 20, 21, 22, 23, 24, 27 or 26);
or (e)resulting in loss or damage which would not have been sustained if the Insured Claimant had paid value for the Insured Mortgage.
4. Unenforceability of the lien of the Insured Mortgage because of the inability or failure of the Insured to comply with applicable doing-business laws of the state in which the Land is situated.
5. Invalidity or unenforceability in whole or in part of the lien of the Insured Mortgage that 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. This Exclusion does not modify or limit the coverage provided in Covered Risk 26.
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 this policy. This Exclusion does not modify or limit the coverage provided in Covered Risk 11. 7. Any lien on the Title for real estate taxes or assessments imposed by governmental authority and created or attaching subsequent to Date of Policy in accordance with applicable building codes. This Exclusion does not modify or limit the coverage provided in Covered Risk 5 or 6.. 8. The failure of the residential structure, or any portion of it, to have been constructed before, on or after Date of Policy in accordance with applicable building codes. This Exclusion does not modify or limit the coverage provided in Covered Risk 5 or 6.
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 (a) a fraudulent conveyance or fraudulent
transfer, or (b) a preferential transfer for any reason not stated in Covered Risk 27(b) of this policy.
Order No. 150-1587541-16
Page 11
Orange Coast Title Company
PRIVACY POLICY
We Are Committed to Safeguarding Customer Information In order to better serve your needs now and in the future, we may ask you to provide us with certain information. We understand that you may be concerned about what we will do with such information – particularly any personal or financial information. We agree that you have a right to know how we will utilize the personal information that you provide to us. Therefore, we have adopted this Privacy Policy to govern the use and handling of your personal information. Applicability This Privacy Policy governs our use of the information which you provide to us. It does not govern the manner in which we may use information we have obtained from any other source, such as information obtained from a public record or from another person or entity. Types of Information Depending upon which of our services you are utilizing, the types of nonpublic personal information that we may collect include: Information we receive from you on applications, forms and in other communications to us, whether in writing, in person, by telephone or any other means. Information we receive from providers of services to us, such as appraisers, appraisal management companies, real estate agents and brokers and insurance agencies (this may include the appraised value, purchase price and other details about the property that is the subject of your transaction with us). Information about your transactions with us, our Affiliated Companies, or others; and Information we receive from a consumer reporting agency. Use of Information We request information from you for our own legitimate business purposes and not for benefit of any nonaffiliated party. Therefore, we will not release your information to nonaffiliated parties except: (1) as necessary for us to provide the product or service you have requested of us; or (2) as permitted by law. We may, however, store such information indefinitely, including the period after which any customer relationship has ceased. Such information may be used for any internal purpose, such as quality control efforts or customer analysis. Former Customers Even if you are no longer our customer, our Privacy Policy will continue to apply to you. Confidentiality and Security We will use our best efforts to ensure that no unauthorized parties have access to any of your information. We restrict access to nonpublic personal information about you to those individuals and entities who need to know that information to provide products or services to you. We will use our best efforts to train and oversee our employees and agents to ensure that your information will be handled responsibly and in accordance with this Privacy Policy. We currently maintain physical, electronic, and procedural safeguards that comply with federal regulations to guard your nonpublic personal information. Opting Out We may also share the information we collect about you within our family of companies (our “Affiliated Companies”). We may also provide this information to companies that perform marketing or other services on our behalf, or on behalf of our Affiliated Companies (“Service Providers”). However, we will not share this information with our Affiliated Companies or our Service Providers if you choose to opt out, in writing. To opt out, please use the form entitled “Request Not to Share Nonpublic Personal Information”, which is attached hereto. This form provides instructions on how to request us not to share information with third parties. Please be aware that Orange Coast Title Company and its Affiliated Companies maintain high standards to safeguard nonpublic, personal information, and do not rent or sell such information. Please note, however, that unless you opt out in writing, our Affiliated Companies and Service Providers will have access to the information in our files. Other Important Information We reserve the right to modify or supplement this Privacy Policy at any time. If our Privacy Policy changes, we will provide the new Privacy Policy and the ability to opt out (as required by law) before the new policy becomes effective.
Order No. 150-1587541-16
Page 12
REQUEST NOT TO SHARE NONPUBLIC PERSONAL INFORMATION
Please read the following information carefully.
Orange Coast Title Company may share nonpublic, personal information we collect about you within our family of companies (our
“Affiliated Companies”). We may also provide this information to companies that perform marketing or other services on our behalf,
or on behalf of our Affiliated Companies (“Service Providers”). By sharing this information, we can better understand your service
needs. We can then send you notification of new products and services offered by Orange Coast Title Company, its Affiliated
Companies or its Service Providers that you may not otherwise know about.
However, you may prohibit the sharing of non-public personal information within our Affiliated Companies, or with any third parties
at any time. If you would like to limit disclosures of non-public, personal information about you as described herein, please check the
appropriate box or boxes to indicate your privacy choices, and return this form to us at the address below.
______ Please do not share personal information about me with non-affiliated third parties.
______ Please do not share personal information about me with any of your Affiliated
Companies except as necessary to effect, administer, process, service or enforce a
transaction requested or authorized by me.
______ Please do not contact me with offers of products or services by mail.
______ Please do not contact me with offers of products or services by e-mail.
______ Please do not contact me with offers of products or services by telephone.
________________________________ ________________________________
Name Company Name
________________________________ ________________________________
Address Address
________________________________ ________________________________
City, State, Zip City, State, Zip
________________________________ ________________________________
Phone Number Phone Number
________________________________ ________________________________
E-mail address E-mail address
Orange Coast Title Company
2411 W. La Palma Ave #300 Anaheim, CA 92801 714-822-3211