|
Order Number: NCS -1153254 -SC
<br />Page Number: 14
<br />The following matters are expressly excluded from the coverage of this policy, and the Company will not pay loss or damage, costs,
<br />attorneys' 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 />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
<br />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 I(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;
<br />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;
<br />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
<br />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 df 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
<br />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
<br />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.
<br />First American Title Insurance Company
<br />ATTY/AGR/2024.193.1—AFFORDABLE HOUSING LAND DONATION AGREEMENT- EXHIBIT A-2 - PRELIMINARY TITLE REPORT
<br />REV: 10-22-24 VR
<br />Page 14 of 14
<br />
|