Title 101: Making Sense of Title Insurance in Commercial Transactions

76 DCNCS.CTIC.COM VA – ALTA COMMITMENT FOR TITLE INSURANCE 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 9 DC-CT-FA61-02100.141018-SPS-1-23-SampleVAACC private way or easement to a public way); ALTA 17-06ALTA 17.1-06 Q. ALTA 17.2-06 Utility Access [owner of loan] (receipt of current ALTA/NSPS survey showing access points for all listed utilities located either in a public way adjacent to the property, or within an easement appurtenant to the property); ALTA 17.2-06 R. ALTA 18-06 Single Tax Parcel or ALTA 18.1-06 Multiple Tax Parcel [owner and loan] (evidence that each parcel of land described in Schedule A is separately assessed for real estate taxation purposes); ALTA 18-06ALTA 18.1-06 S. ALTA 19-06 Contiguity (Multiple Lots) or ALTA 19.1-06 (Single Lot) (receipt of ALTA/NSPS survey showing the referenced parcels as contiguous to each other with no gores, gaps or overlays), ALTA 19.2-06 Contiguity (Specified Parcels) ALTA 19-06ALTA 19.1-06ALTA 19.2-06 T. ALTA 20-06 First Loss [lender only] (review of structure of transaction – multi-site only) ALTA 20-06 U. ALTA 22-06 Location (formerly Street Address) [owner and loan] (receipt of ALTA/NSPS survey depicting the improvements on the property and the address of those improvements; verification of address with the local taxing authority), ALTA 22.1-06 Location and Map; ALTA 22-06ALTA 22.1-06 V. ALTA 24-06 Doing Business [loan only] (none); ALTA 24-06 W. ALTA 25-06 Same as Survey or ALTA 25.1-06 Portion of Same as Survey [owner and loan] (receipt of ALTA/NSPS survey depicting the same land described in Schedule A hereof); ALTA 25-06ALTA 25.1-06 X. ALTA 26 Subdivision [owner or loan] (satisfactory evidence that the land described in Schedule A is in compliance with local and state subdivision laws); ALTA 26-21 Y. ALTA 27 Usury [loan only) (review of loan documents and state law regarding usury); Chicago Title NCS DC l MD Page 104

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