60 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 7 DC-CT-FA61-02100.141018-SPS-1-23-SampleMDACC Any title search and examination conducted by or for the Company in connection with the issuance of this Commitment for Title Insurance, if any, is solely for the benefit of the Company. The sole liability of the Company and / or its issuing agent hereunder shall be as set forth in the Conditions of this Commitment for Title Insurance. Neither the Company nor its issuing agent shall be liable to the proposed insured(s) or any other party for any claim of alleged negligence, negligent misrepresentation, or any other cause of action in tort in connection with this Commitment for Title Insurance. 17. Note: Any documents being executed and insured in conjunction with this transaction must be conducted under the supervision of an attorney actively licensed in the state where the signings take place, signed in the presence of an authorized Company employee, an authorized employee of an agent, an authorized employee of the insured lender, or by using Bancserv or other approved third-party service. If these requirements cannot be met, please call the company at the number provided in this Report/Commitment. 18. In the event the subject transaction is a sale, the Company requires completion and return of a Form 1099-S, by the Seller. 19. Click this link to view the Fidelity National Financial, Inc. Privacy Statement. 20. The actual value of the estate or interest to be insured must be disclosed to the Company, and subject to approval by the Company, entered as the amount of the policy to be issued. Until the amount of the policy to be issued shall be determined, and entered as aforesaid, it is agreed that as between the Company, the applicant for this Commitment, and every person relying on this Commitment, the Company cannot be required to approve any such evaluation in excess of $100,000.00 and the total liability of the Company on account of this Commitment shall not exceed said amount. 21. The Proposed Policy Amount(s) must be increased to the full value of the estate or interest being insured and any additional premium must be paid at that time. An Owner’s policy should reflect the purchase price or fair market value of the Land. A Loan Policy should reflect the loan amount or value of the property as collateral. A Loan Policy cannot be issued for less than the full principal debt secured; however, it may be issued in an amount up to but not to exceed 125% of the principal debt. Proposed Policy Amount(s) will be revised and premiums charged consistent therewith when the final amounts are approved. 22. THIS COMMITMENT AND THE PREMIUM TO BE CHARGED ARE PRELIMINARY AND SUBJECT TO FINAL CORPORATE APPROVAL. SUCH APPROVAL MUST BE RECEIVED PRIOR TO CLOSING. 23. Note: Please be aware that due to the conflict between federal and state laws concerning the cultivation, distribution, manufacture or sale of marijuana, the Company is not able to close or insure any transaction involving Land that is associated with these activities. 24. The following endorsements may be attached to the final owner's and/or loan policy as applicable, subject to compliance with the requirements listed parenthetically, and additional underwriting requirements and premium, if applicable: A. ALTA 3 Zoning (unimproved land) or ALTA 3.1 Zoning (improved land) [owner and loan] or ALTA 3.2 (receipt of acceptable zoning report); Chicago Title NCS DC l MD Page 88
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