71 VA – ALTA COMMITMENT FOR TITLE INSURANCE CHICAGO TITLE NCS DC | MD CHICAGO TITLE INSURANCE COMPANY COMMITMENT NO. SampleVAACC 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-VA Mod (07/01/2021) Printed: 11.09.23 @ 06:14 PM Page 4 DC-CT-FA61-02100.141018-SPS-1-23-SampleVAACC 5. All real property taxes and assessments, general and special, must be paid through ______. (Note: Taxes are assessed on a calendar year/fiscal year [choose one as appropriate]) Insert tax information, due dates and any payments. 6. A plat or survey must be submitted that 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 that 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, Section II, Paragraph B4. 7. 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: [if none, state NONE] A. Deed of Trust and Security Agreement from _______ to ____________, Trustees for the benefit of _____________, dated _______ and recorded ________ in Deed Book ________ at page ___________, 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. ___. D. Other: 8. With regard to _ LLC, a _ limited liability company (the “LLC”), the following is required: A. a full and complete copy of the LLC’s Articles of Organization, and any amendment(s) thereto; B. a copy of the LLC’s Certificate of Organization; C. a current Good Standing Certificate issued by the Secretary of State (or equivalent) from the LLC’s jurisdiction of formation; D. a current Certificate of Registration from the Commonwealth of Virginia (foreign LLC only); E. an Affidavit of Members accurately identifying the current membership of the LLC; and F. a full and complete copy of the Operating Agreement governing the authority of any or all of the members of the LLC to act on behalf of the LLC. Note: This Commitment is subject to such additional exceptions as may appear upon review of said documentation. 9. With regard to _ Limited Partnership, a _ limited partnership, (the “LP”), the following is required: Chicago Title NCS DC l MD Page 99
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