Title 101: Making Sense of Title Insurance in Commercial Transactions

64 DCNCS.CTIC.COM MD – ALTA COMMITMENT FOR TITLE INSURANCE 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 11 DC-CT-FA61-02100.141018-SPS-1-23-SampleMDACC CHICAGO TITLE INSURANCE COMPANY COMMITMENT NO. SampleMDACC SCHEDULE B, PART II - Exceptions Some historical land records contain Discriminatory Covenants that are illegal and unenforceable by law. This Commitment and the Policy treat any Discriminatory Covenant in a document referenced in Schedule B as if each Discriminatory Covenant is redacted, repudiated, removed, and not republished or recirculated. Only the remaining provisions of the document will be excepted from coverage. The Policy will not insure against loss or damage resulting from the terms and conditions of any lease or easement identified in Schedule A, and will include the following Exceptions unless cleared to the satisfaction of the Company: A. Any defect, lien, encumbrance, adverse claim, or other matter that appears for the first time in the Public Records or is created, attaches, or is disclosed between the Commitment Date and the date on which all of the Schedule B, Part I—Requirements are met. B. STANDARD EXCEPTIONS 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. c. Any lien, or right to a lien, for services, labor, or material heretofore or hereafter furnished, imposed by law and not shown by the Public Records. d. Any encumbrance, violation, variation, adverse circumstance, boundary line overlap, or encroachment (including an encroachment of an improvement across the boundary lines of the Land) that would have been disclosed by an accurate and complete land title survey of the Land. NOTE: Upon receipt of a satisfactory owner’s affidavit and the ALTA/NSPS Survey as noted in Schedule B – Section I hereof, exceptions A and B above will not be appear in the final policies, or will be modified as required based on the facts disclosed in the affidavits and/or survey. SPECIAL EXCEPTIONS: 1. Taxes and other public charges, including assessments by any State, County, Municipality, Metropolitan District or Commission payable on an annual basis subsequent to the fiscal year ending June 30, 202_, a lien not yet due and payable. This policy does not insure against the balance of any public charges, including assessments by any State, County, Municipality, Metropolitan District or Commission, payable on an annual basis subsequent to the fiscal year ending June 30, 202_. This policy insures against neither possible future tax levies nor possible public charges, as defined above, that have not been levied or assessed as of Date of Policy. 2. Rights of parties entitled to possession, as tenants only, under unrecorded leases. Chicago Title NCS DC l MD Page 92

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