Chicago Title NCS Chicago: SYFCREC 2021

Surviving Your First Commercial Real Estate Closing I ALTA Policy & Endorsements Covered Risks (continued) Owner’s Policy – Title being vested other than as stated in Schedule A or being defective: a) as result of the avoidance in whole or in part, or from a court order providing an alternative remedy, of a transfer of all or part of the title to or any interest in the Land occurring prior to the transaction vesting Title as shown in Schedule A because that prior transfer constituted a fraudulent or preferential transfer under federal bankruptcy, state insolvency, or similar creditors’ rights laws; or b) because the transfer vesting Title or as shown in Schedule A constitutes a preferential transfer under federal bankruptcy, state insolvency, or similar creditors’ rights laws by reason of the failure of its recording in the Public Records (i) to be timely, or (ii) to impart notice of its existence to a purchaser for value or to a judgment or lien creditor. 9 9 13 o Loan Policy – The invalidity, unenforceability, lack of priority, or avoidance of the lien of the Insured Mortgage upon the Title resulting from the avoidance in whole or in part, or from a court order providing an alternative remedy, of a transfer of all or part of the title to or any interest in the Land occurring prior to the transaction creating the lien of the Insured Mortgage because that prior transfer constituted a fraudulent or preferential transfer under federal bankruptcy, state insolvency, or similar creditors’ rights laws; or o because the Insured Mortgage constitutes a preferential transfer under federal bankruptcy, state insolvency, or similar creditors’ rights laws by reason of the failure of its recording in the Public Records (i) to be timely, or (ii) to impart notice of its existence to a purchaser for value or to a judgment or lien creditor. Covered Risk Owner’s Policy Covered Risk Loan Policy Surviving Your First Commercial Real Estate Closing I ALTA Policy & Endorsements Exclusions from Coverage - Owner’s Policy 10 9 10 44