56 DCNCS.CTIC.COM MD – ALTA COMMITMENT FOR TITLE INSURANCE CHICAGO TITLE INSURANCE COMPANY COMMITMENT NO. SampleMDACC SCHEDULE B, PART I - Requirements (continued) This page is only a part of a 2021 ALTA® Commitment for Title Insurance issued by Chicago Title Insurance Company. This Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I-Requirements; Schedule B, Part II-Exceptions; and a counter-signature by the Company or its issuing agent that may be in electronic form. Copyright American Land Title Association. All rights reserved. The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association. ALTA Commitment for Title Insurance w-MD Mod (07/01/2021) Printed: 11.09.23 @ 06:20 PM Page 4 DC-CT-FA61-02100.141018-SPS-1-23-SampleMDACC Note: For recordation purposes the State of Maryland requires a certification on instruments conveying an interest in real property, such certification being to the effect that the instrument has been prepared by or under the supervision of an attorney or under the supervision of one of the parties to the instrument and the certification must be signed by such attorney or officer of one of the party entities. NOTE: ANY REMOTE NOTARIZATION PROCEDURE MUST BE PRE-APPROVED BY THE COMPANY. PLEASE CONTACT THIS OFFICE PRIOR TO ENGAGING IN ANY SUCH PROCEDURE. 5. All real property taxes and assessments, general and special, must be paid through the fiscal year ending June 30, 20__. (Note: Taxes are assessed in advance on a fiscal year running from July 1 through June 30.) The ______ - ______ Real Property Taxes were paid in the amount of $___________. (Account _______) NOTE: The _______ Real Property Tax Bill will be released on and become due on July 1st. If Lender is requiring that we insure taxes are paid and current and the Deed of Trust is not on record by July 1st, we will need to escrow taxes at closing. 6. Notwithstanding the fact that Real Estate Taxes are not delinquent until October 1, should the transaction addressed by this Commitment involve the recordation of a Deed and such Deed is to be recorded subsequent to June 30, the real estate taxes associated with the following tax year must be paid. The local jurisdiction will not allow the Deed to be recorded without the payment of those taxes. 7. All water charges must be paid current as a condition to transfer title. Seller MUST provide all water account numbers that pertain to the subject property. Seller must fully complete and execute the MD Water Authorization form. This must be completed and returned to title company 7-10 days prior to closing in order to obtain the estimated amount needed to collect at closing for the final water reading. 8. A plat or survey must be submitted which has been made in accordance with “Minimum Standard Detail Requirements for ALTA/NSPS Land Title Surveys” jointly established and adopted by ALTA and NSPS in 2016, and which meets the accuracy requirements of the appropriate classification of cadastral survey. Matters disclosed by the survey that in the Company’s judgment constitute defects in title to the property will be shown as exceptions to coverage under the proposed policy, replacing the general survey exception currently shown on this Commitment in Schedule B, Part II, Paragraph 2D. 9. The following must be duly released of record, or the same will appear as exception(s) to coverage under the policy anticipated by this Commitment: A. Deed of Trust and Security Agreement from _______ to ____________, Trustees for the benefit of _____________, dated _______ and recorded ________ in Liber ________ at folio ___________, securing the original principal sum of $______________. B. Assignment of Leases and Rents from ___ as Assignor to ___ as Assignee, dated ___, recorded ___, 200___ as Instrument No. ___. C. UCC-1 Financing Statement naming ___ as Debtor and ___ as Secured Party, recorded ___, 200___ as Instrument No. ___. Chicago Title NCS DC l MD Page 85
RkJQdWJsaXNoZXIy ODI0NDE4