59 MD – ALTA COMMITMENT FOR TITLE INSURANCE CHICAGO TITLE NCS DC | MD 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 6 DC-CT-FA61-02100.141018-SPS-1-23-SampleMDACC required to consummate the transaction which is the subject of this Commitment, or in lieu thereof, evidence that the Partnership Agreement, as amended, establishes the authority of a single identified partner, or less than all of the partners to execute and deliver the same. Note: This Commitment is subject to such additional exceptions as may appear upon review of said documentation. 13. With regard to _, a _ corporation (the “Corporation”), the following is required: A. a copy of the Articles of Incorporation and By-Laws of the corporation, and any and all amendments thereto; B. a Certificate of Incorporation issued by the Corporation’s jurisdiction of formation; C. a current Good Standing Certificate (or equivalent) issued by the Secretary of State (or equivalent) of the Corporation’s jurisdiction of formation; D. a duly certified copy of the Certificate of Authority from the State of Maryland (foreign Corporation only); and E. a copy of the resolution of the Board of Directors authorizing the sale/acquisition and/or encumbrance of the real property referred to herein, and directing authorized officers to execute/accept a Deed and/or execute and deliver a mortgage or deed of trust encumbering the title thereto. Note: This Commitment is subject to such additional exceptions as may appear upon review of said documentation. 14. All current owners of the property must execute and deliver to the Company an owner's affidavit which in the Company’s judgment are sufficient in both form and content to identify: A. rights or claims of parties in possession not shown by the public records; B. easements, or claims of easements, not shown by the public records; or C. the occurrence of any event which could give rise to any lien, or right to a lien, for services, labor, or material furnished, imposed by law and not shown by the public records. Matters disclosed by the affidavits which 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 exceptions currently shown on this Commitment in Schedule B, Part II, Paragraph No. A and B. 15. Proposed Insured (To Be Determined) must be identified and if same is a corporation, partnership or limited liability company, evidence of its organization and compliance with filing requirements of its jurisdiction of origin, and the jurisdiction of the location of the property, must be furnished. 16. Note: This Commitment for Title Insurance does NOT constitute a report of title and is not to be relied upon by the proposed insured(s) or any other party as a title report or representation of the status of title. Chicago Title NCS DC l MD Page 87
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