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HomeMy WebLinkAbout20190607_TITLE REPORT Order No. 150-2007435-07 Page 1 @ExtractStart@ Orange Coast Title Company 2461 W. La Palma Ave, Suite 120 Anaheim, CA 92801 714-822-3211 PRELIMINARY REPORT Viola 4709 Cortland Drive Corona del Mar, CA 92625 Attention:John Viola Your no.:Viola Property address:4709 Cortland Drive, in the City of Newport Beach , area of Corona del Mar, County of Orange, State of CA 92625. Order no.:150-2007435-07 Dated:June 4, 2019 In response to the above referenced application for a policy of title insurance, Orange Coast Title Company hereby reports that it is prepared to issue, or cause to be issued, as of the date hereof, a Policy or Policies of Title Insurance describing the land and the estate or interest therein hereinafter set forth, insuring against loss which may be sustained by reason of any defect, lien or encumbrance not shown or referred to as an Exception below or not excluded from coverage pursuant to the printed Schedules, Conditions and Stipulations of said Policy forms. The printed Exceptions and Exclusions from the coverage and Limitations on Covered Risks of said policy or policies are set forth in Exhibit B attached. The policy to be issued may contain an arbitration clause. When the Amount of Insurance is less than that set forth in the arbitration clause, all arbitrable matters shall be arbitrated at the option of either the Company or the Insured as the exclusive remedy of the parties. Limitations on Covered Risks applicable to the CLTA and ALTA Homeowner’s Policies of Title Insurance which establish a Deductible Amount and a Maximum Dollar Limit of Liability for certain coverages are also set forth in Exhibit B. Copies of the policy forms should be read. They are available from the office which issued this report. Please read the exceptions shown or referred to below and the exceptions and exclusions set forth in Exhibit B of this report carefully. The exceptions and exclusions are meant to provide you with notice of matters, which are not covered under the terms of the title insurance policy and should be carefully considered. It is important to note that this preliminary report is not a written representation as the condition of title and may not list all liens, defects, and encumbrances affecting title to the land. This report (and any supplements or amendments hereto) is issued solely for the purpose of facilitating the issuance of a policy of title insurance and no liability is assumed hereby. If it is desired that liability be assumed prior to the issuance of a policy of title insurance, a Binder or Commitment should be requested. Dated as of May 1, 2019 at 7:30 AM _____________________________________________________ Steve Fernando, Title Officer Ph: 714-822-3211 Email: stevef@octitle.com PA2019-107 Order No. 150-2007435-07 Page 2 The form of policy of title insurance contemplated by this report is: A.L.T.A. Loan Policy (06-17-06) The Policy of Title Insurance, if issued, will be underwritten by: Real Advantage Title Insurance Company, a subsidiary of Orange Coast Title Company. See attached disclosure. Schedule “A” The estate or interest in the land hereinafter described or referred to covered by this report is: A Fee Title to said estate or interest at the date hereof is vested in: John Viola and Mylinda Viola, husband and wife as community property with rights of survivorship The land referred to in this report is situated in the City of Newport Beach , area of Corona del Mar, the County of Orange, State of California, and is described as follows: Lot 2 of Tract No. 3519, in the Newport Beach, County of Orange, State of California, as per Map recorded in Book 128 Pages(s) 18 to 21 inclusive of Maps, in the Office of County Recorder of said County. Except therefrom all oil, gas, minerals and other hydrocarbon substances below a depth of 500 feet, as reserved in instruments of record. Assessor's Parcel Numbers(s): 475-065-02 PA2019-107 Order No. 150-2007435-07 Page 3 Schedule “B” At the date hereof exceptions to coverage in addition to the printed exceptions and exclusions contained in said policy form would be as follows: 1 General and Special taxes for the fiscal year 2019-2020, including any assessments collected with taxes. A lien not yet payable. First installment due and payable 11/01/2019, delinquent if not paid by 12/10/2019 Second installment due and payable 02/01/2020, delinquent if not paid by 04/10/2020 2 General and Special taxes for the fiscal year 2018-2019, including any assessments collected with current taxes. Total amount $22,925.30 1st installment $11,462.65, Paid Penalty $1,146.26 (after 12/10/2018) 2nd installment $11,462.65, Paid Penalty $1,169.26 (after 04/10/2019) Code area 07-017 - City of Newport Beach Parcel No.475-065-02 Exemption $7,000.00 NOTE: Taxes above mentioned have all been paid and are reported for proration purposes only. 3 The Lien of future supplemental taxes, if any, assessed pursuant to the provisions of section 75, et seq of the revenue and taxation code of the State of California 4 An easement for purposes herein stated, and rights incidental thereto as provided in an instrument Recorded:01/13/1925, in Book 559 of Deeds, Page 102, of Official Records. For :construct and maintain excavation and embankment slopes and culverts and drainage structures beyond the limits of the state highway and incidental purposes In favor of :State of California Affects :The location of said easement is set forth therein. 5 An easement for purposes herein stated, and rights incidental thereto as provided in an instrument Recorded:11/30/1928, in Book 221, Page 76, of Official Records. For :Water pipeline and incidental purposes In favor of :The Laguna Beach County Water District Affects :The location of said easement is set forth therein. 6 An instrument, upon the terms and conditions contained therein Entitled:Agreement Dated:05/15/1952 Executed by and between:Laguna Beach County Water District, the Irvine Company and South Coast Water District. Recorded:05/29/1952, in Book 2336, Page 528 of Official Records 7 An easement for purposes herein stated, and rights incidental thereto as provided in an instrument Recorded:12/17/1952, in Book 2425, Page 277, of Official Records. For :Pipeline and incidental purposes In favor of :The Laguna Beach County Water District and South Coast Water District Affects :The location of said easement is set forth therein. 8 The fact that the owners of said land have no right of vehicular access to Pacific Coast Highway except the public right to travel same, said rights having been relinquished by the dedication provisions on the map of said tract. Said land, however, abuts on a public thoroughfare other than the one referred to above, over which rights of vehicular access have not been relinquished. PA2019-107 Order No. 150-2007435-07 Page 4 9 An easement for purposes herein stated, and rights incidental thereto as provided in an instrument Recorded:09/12/1960, in Book 5412, Page 173, of Official Records. For :Either or both pole lines, conduits and incidental purposes In favor of :The Irvine Company, a Corporation Affects :The Northwesterly 2 feet of the Northeasterly 2 feet of said land 10 Covenants, conditions, restrictions, charges, assessments and other matters in an instrument recorded 03/07/1974, in Book 1109, Page(s) 174 Official Records, which provide that a violation thereof shall not defeat or render invalid the lien of any mortgage or Deed of Trust made in good faith and for value, but omitting any covenants or restrictions, if any, based upon race, color, religion, sex, handicap, familial status, or national origin unless and only to the extent that said covenant (a) is exempt under chapter 42, section 3604 of the United States code or (b) relates to handicap but does not discriminate against handicapped persons. "NOTE: section 12955 of the government code provide the following: if this document contains any restriction based on race, color, religion, sex, familial status, marital status, disability, national origin, or ancestry, that restriction violates state and federal fair housing laws and is void, and may be removed pursuant to Section 12955 of the government code. Lawful restriction under state and federal law on the age of occupants in senior housing for older persons shall not be construed as restriction based on familial status." Notwithstanding the mortgagee protection clause contained in the above mentioned covenants, conditions and restrictions, they provide that the liens and charges for upkeep and maintenance are subordinate only to a first mortgage Said instrument may provide for levying regular as well as special assessments. 11 Any assessments due the current managing Association(s). 12 A notice that pursuant to the declaration of covenants, conditions and restrictions affecting said land, membership dues and/or monetary assessments for maintaining the common and recreational areas may be levied. No interest in said land may be transferred, assigned, sold or acquired free and clear of unpaid association assessments and/ or dues. Executed by:The Irvine Company, a West Virginia Corporation Recorded:11/16/1976, in Book 11962, Page 1885, of Official Records. 13 An instrument, upon the terms and conditions contained therein Entitled:Agreement of Covenants, Conditions and Restrictions relating to certain homes in Cameo Highlands and Survey Park, Corona Del Mar, California Dated:01/21/1991 Executed by and between:Cameo Community Association, a California Non- profit Corporation and The Irvine Company, a Michigan Corporation Recorded:06/05/1991, as Instrument No. 1991-279791 of Official Records 14 A Deed of Trust to secure the indebtedness of Amount:$1,500,000.00 Trustor:John Viola and Mylinda Viola, Husband and wife as community property with rights of surviviorship Trustee:Fidelity National Title Ins Co. Beneficiary:Wells Fargo Bank, N.A Dated:02/26/2014 Recorded:03/13/2014, as Instrument No. 2014-94762 of Official Records 15 A Deed of Trust to secure the indebtedness of Amount:$250,000.00 Trustor:John Viola and Mylinda Viola, husband and wife as community property with rights of surviviorship Trustee:1st Santa Clara Corporation Beneficiary:Bank of the West Dated:06/27/2016 Recorded:07/01/2016, as Instrument No. 2016-301115 of Official Records PA2019-107 Order No. 150-2007435-07 Page 5 If the above deed of trust is an Equity Line/Line of Credit, prior to close we will require the following: (a) Evidence that the line of credit has been frozen and no advances have been made after the issuance of the demand for payoff; and. (b) any remaining checks, passbooks, or credit cards issued in conjunction with the line of credit be surrendered The above Deed of Trust is reflected as an equity line loan. Prior to final payoff we will require a written statement (enclosed), with original signatures, from the borrower/owner and beneficiary, stating the account has been frozen and the maker of the loan has requested the line of credit to be closed; or a full reconveyance must be submitted for recording concurrent with payoff. 16 Omitted intentionally 17 Omitted intentionally 18 Omitted intentionally 19 Omitted intentionally 20 Omitted intentionally 21 Omitted intentionally End of Schedule B PA2019-107 Order No. 150-2007435-07 Page 6 “NOTES AND REQUIREMENTS SECTION” LENDER SERVICES GROUP NOTE NO. 1 AFFILIATED BUSINESS ARRANGEMENT DISCLOSURE STATEMENT NOTICE This is to give you notice that Orange Coast Title Company owns an interest in Real Advantage Title Insurance Company. This underwriter may be chosen by Orange Coast Title Company and this referral may provide Orange Coast Title Company a financial or other benefit. You are NOT required to use the listed provider as a condition for settlement of your loan or purchase, sale or refinance of the subject property and you have the opportunity to select any of the Orange Coast Title Company title insurance underwriters for your transaction. THERE ARE FREQUENTLY OTHER SETTLEMENT SERVICE PROVIDERS AVAILABLE WITH SIMILAR SERVICES. YOU ARE FREE TO SHOP AROUND TO DETERMINE THAT YOU ARE RECEIVING THE BEST SERVICES AND THE BEST RATE FOR THESE SERVICES Notes section continued on next page… PA2019-107 Order No. 150-2007435-07 Page 7 NOTE NO. 2 California Revenue and Taxation Code Section 18662, effective January 1, 1994 and by amendment effective January 1, 2003, provides that the buyer in all sales of California Real Estate may be required to withhold 3 and 1/3% of the total sales price as California State Income Tax, subject to the various provisions of the law as therein contained. NOTE NO. 3 PAYOFF INFORMATION: Note: this company does require current beneficiary demands prior to closing. If the demand is expired and a correct demand cannot be obtained, our requirements will be as follows: A.If this company accepts a verbal update on the demand, we may hold an amount equal to one monthly mortgage payment. The amount of this hold will be over and above the verbal hold the lender may have stipulated. B.If this company cannot obtain a verbal update on the demand, will either pay off the expired demand or wait for the amended demand, at the discretion of the escrow. C.In the event that a payoff is being made to a servicing agent for the beneficiary, this company will require a complete copy of the servicing agreement prior to close. NOTE NO. 4 If this company is requested to disburse funds in connection with this transaction, chapter 598, statutes of 1989 mandates hold periods for checks deposited to escrow or sub-escrow accounts. The mandatory hold is one business day after the day deposited. Other checks require a hold period from three to seven business days after the day deposited. Notice Regarding Your Deposit of Funds California Insurance Code Sections 12413 et. Seq. Regulates the disbursement of escrow and sub-escrow funds by title companies. The law requires that funds be deposited in the title company escrow and sub-escrow accounts and be available for withdrawal prior to disbursement. Funds deposited with the Company by wire transfer may be disbursed upon receipt. Funds deposited with the Company via cashier’s checks drawn on a California based bank may be disbursed the next business day after the day of deposit. If funds are deposited with by other methods, recording or disbursement may be delayed. All escrow and sub-escrow funds received by the Company will be deposited with other funds in one or more non-interest bearing escrow accounts of the Company in a financial institution selected by the Company. The Company and/or its parent company may receive certain direct or indirect benefits from the financial institution by reason of the deposit of such funds or the maintenance of such accounts with the financial institution, and the Company shall have no obligation to account to the depositing party in any manner for the value of, or to pay such party, any benefit received by the Company and/or its parent Company. Those benefits may include, without limitation, credits allowed by such financial institution on loans to the Company and/or its parent company and earnings on investments made on the proceeds of such loans, accounting, reporting and other services and products of such financial institution. Such benefits shall be deemed additional compensation of the Company for its services in connection with the escrow or sub-escrow. If funds are to be deposited with Orange Coast Title Company by wire transfer, they should be wired to the following bank/account: Wiring Instructions for This Office: Citizens Business Bank 301 Vanderbilt Way San Bernardino, CA 92408 Account No. 245123027 ABA 122234149 Account name: Orange Coast Title Company Reference Order No.150-2007435-07 Steve Fernando, Title Officer Note No. 5: The premium for the requested title work shall be split between the agent and underwriter 88%-12%. PA2019-107 Order No. 150-2007435-07 Page 8 Orange Coast Title Company 2461 W. La Palma Ave, Suite 120 Anaheim, CA 92801 714-822-3211 Lender Follow TBD Anaheim, CA 92801 Attention:Loan Processor Borrower:Viola Lenders supplemental report The above numbered report (including any supplements or amendments thereto) is hereby modified and/or supplemented in order to reflect the following additional items relating to the issuance of an American Land Title Association loan policy form as follows: A.This report is preparatory to this issuance of an American Land Title Association loan policy of title insurance. This report discloses nothing, which would preclude the issuance of said American land title association loan policy of title insurance with endorsement no. 100 attached thereto. B.The improvements on said land are designated as: A single family dwelling (Planned Unit Development) 4709 Cortland Drive, in the City of Newport Beach , area of Corona del Mar, County of Orange, State of California. C.Our search of the public records revealed conveyance(s) affecting said land recorded within 24 months of the date of this report are as follows: None. PA2019-107 Order No. 150-2007435-07 Page 9 Attention Please note that this preliminary report now has an extra copy of the legal description on a separate sheet of paper. There are no markings on the page. The idea is to provide you with a legal description that can be attached to other documents as needed. That legal description page immediately follows this page. Thank you for your support of Orange Coast Title Company. We hope that this makes your job a little easier. PA2019-107 Order No. 150-2007435-07 Page 10 Exhibit “A” Lot 2 of Tract No. 3519, in the Newport Beach, County of Orange, State of California, as per Map recorded in Book 128 Pages(s) 18 to 21 inclusive of Maps, in the Office of County Recorder of said County. Except therefrom all oil, gas, minerals and other hydrocarbon substances below a depth of 500 feet, as reserved in instruments of record. PA2019-107 Order No. 150-2007435-07 Page 11 CLTA Preliminary Report Form – Exhibit B (06-03-11) CLTA STANDARD COVERAGE POLICY – 1990 EXCLUSIONS FROM COVERAGE The following matters are expressly excluded from the coverage of this policy and the Company will not pay loss or damage, costs, attorneys' fees or expenses which arise by reason of: 1. (a) Any law, ordinance or governmental regulation (including but not limited to building or zoning laws, ordinances, or regulations) restricting, regulating, prohibiting or relating (i) the occupancy, use, or enjoyment of the land; (ii) the character, dimensions or location of any improvement now or hereafter erected on the land; (iii) a separation in ownership or a change in the dimensions or area of the land or any parcel of which the land is or was a part; or (iv) environmental protection, or the effect of any violation of these laws, ordinances or governmental regulations, except to the extent that a notice of the enforcement thereof or a notice of a defect, lien, or encumbrance resulting from a violation or alleged violation affecting the land has been recorded in the public records at Date of Policy. (b) Any governmental police power not excluded by (a) above, except to the extent that a notice of the exercise thereof or notice of a defect, lien or encumbrance resulting from a violation or alleged violation affecting the land has been recorded in the public records at Date of Policy. 2. Rights of eminent domain unless notice of the exercise thereof has been recorded in the public records at Date of Policy, but not excluding from coverage any taking which has occurred prior to Date of Policy which would be binding on the rights of a purchaser for value without knowledge. 3. Defects, liens, encumbrances, adverse claims or other matters: (a) whether or not recorded in the public records at Date of Policy, but created, suffered, assumed or agreed to by the insured claimant; (b) not known to the Company, not recorded in the public records at Date of Policy, but known to the insured claimant and not disclosed in writing to the Company by the insured claimant prior to the date the insured claimant became an insured under this policy; (c) resulting in no loss or damage to the insured claimant; (d) attaching or created subsequent to Date of Policy; or (e) resulting in loss or damage which would not have been sustained if the insured claimant had paid value for the insured mortgage or for the estate or interest insured by this policy. 4. Unenforceability of the lien of the insured mortgage because of the inability or failure of the insured at Date of Policy, or the inability or failure of any subsequent owner of the indebtedness, to comply with the applicable doing business laws of the state in which the land is situated. 5. Invalidity or unenforceability of the lien of the insured mortgage, or claim thereof, which arises out of the transaction evidenced by the insured mortgage and is based upon usury or any consumer credit protection or truth in lending law. 6. Any claim, which arises out of the transaction vesting in the insured the estate of interest insured by this policy or the transaction creating the interest of the insured lender, by reason of the operation of federal bankruptcy, state insolvency or similar creditors' rights laws. EXCEPTIONS FROM COVERAGE - SCHEDULE B, PART I This policy does not insure against loss or damage (and the Company will not pay costs, attorneys' fees or expenses) which arise by reason of: 1. Taxes or assessments which are not shown as existing liens by the records of any taxing authority that levies taxes or assessments on real property or by the public records. Proceedings by a public agency which may result in taxes or assessments, or notices of such proceedings, whether or not shown by the records of such agency or by the public records. 2. Any facts, rights, interests, or claims which are not shown by the public records but which could be ascertained by an inspection of the land or which may be asserted by persons in possession thereof. 3. Easements, liens or encumbrances, or claims thereof, which are not shown by the public records. 4. Discrepancies, conflicts in boundary lines, shortage in area, encroachments, or any other facts which a correct survey would disclose, and which are not shown by the public records. 5. (a) Unpatented mining claims; (b) reservations or exceptions in patents or in Acts authorizing the issuance thereof; (c) water rights, claims or title to water, whether or not the matters excepted under (a), (b) or (c) are shown by the public records. 6. Any lien or right to a lien for services, labor or material not shown by the public records. CLTA/ALTA HOMEOWNER'S POLICY OF TITLE INSURANCE (02/03/10) EXCLUSIONS In addition to the Exceptions in Schedule B, You are not insured against loss, costs, attorneys' fees, and expenses resulting from: 1. Governmental police power, and the existence or violation of those portions of any law or government regulation concerning: a.building, b. zoning, c.land use d. improvements on the Land, e.land division; and ,f. environmental protection. This Exclusion does not limit the coverage described in Covered Risk 8.a., 14, 15, 16, 18, 19, 20, 23 or 27. 2. The failure of Your existing structures, or any part of them, to be constructed in accordance with applicable building codes. This Exclusion does not limit the coverage described in Covered Risk 14 or 15. 3. The right to take the Land by condemning it. This Exclusion does not limit the coverage described in Covered Risk 17. 4. Risks: a. that are created, allowed, or agreed to by You, whether or not they recorded in the Public Records; b. that are Known to You at the Policy Date, but not to Us, unless they are recorded in the Public Records at the Policy Date; c. that result in no loss to You; or d. that first occur after the Policy Date - this does not limit the coverage described in Covered Risk 7, 8.e, 25, 26, 27, or 28. 5. Failure to pay value for Your Title. 6. Lack of a right: a. to any land outside the area specifically described and referred to in paragraph 3 of Schedule A; and b. in streets, alleys, or waterways that touch the Land. This Exclusion does not limit the coverage described in Covered Risk 11 or 21. 7. The transfer of the Title to You is invalid as a preferential transfer or as a fraudulent transfer or conveyance under federal bankruptcy, state insolvency, or similar creditors’ rights laws. LIMITATIONS ON COVERED RISKS Your insurance for the following Covered Risks is limited on the Owner’s Coverage Statement as follows: • For Covered Risk 16, 18, 19, and 21 Your Deductible Amount and Our Maximum Dollar Limit of Liability shown in Schedule A. The deductible amounts and maximum dollar limits shown on Schedule A are as follows: Your Deductible Amount Our Maximum Dollar Limit of Liability Covered Risk 16:1 % of Policy Amount shown in Schedule A or $ 2,500 (whichever is less)$ 10,000 Covered Risk 18:1 % of Policy Amount shown in Schedule A or $ 5,000 (whichever is less)$ 25,000 Covered Risk 19:1 % of Policy Amount shown in Schedule A or $ 5,000 (whichever is less)$ 25,000 Covered Risk 21:1 % of Policy Amount shown in Schedule A or $ 2,500 (whichever is less)$ 5,000 ALTA RESIDENTIAL TITLE INSURANCE POLICY (6-1-87) EXCLUSIONS In addition to the Exceptions in Schedule B, you are not insured against loss, costs, attorneys' fees, and expenses resulting from: 1. Governmental police power, and the existence or violation of any law or government regulation. This includes building and zoning ordinances and also laws and regulations concerning: * land use * improvements on the land * land division * environmental protection. This exclusion does not apply to violations or the enforcement of these matters which appear in the public records at Policy Date. This exclusion does not limit the zoning coverage described in Items 12 and 13 of Covered Title Risks. 2. The right to take the land by condemning it, unless: *a notice of exercising the right appears in the public records *on the Policy Date *the taking happened prior to the Policy Date and is binding on you if you bought the land without knowing of the taking 3. Title Risks: *that are created, allowed, or agreed to by you *that are known to you, but not to us, on the Policy Date -- unless they appeared in the public records *that result in no loss to you *that first affect your title after the Policy Date -- this does not limit the labor and material lien coverage in Item 8 of Covered Title Risks 4. Failure to pay value for your title. 5. Lack of a right: *to any land outside the area specifically described and referred to in Item 3 of Schedule A OR *in streets, alleys, or waterways that touch your land. This exclusion does not limit the access coverage in Item 5 of Covered Title Risks. 2006 ALTA LOAN POLICY (06-17-06) EXCLUSIONS FROM COVERAGE The following matters are expressly excluded from the coverage of this policy, and the Company will not pay loss or damage, costs, attorneys' fees or expenses which arise by reason of: 1. (a) Any law, ordinance or governmental regulation (including those relating to building and zoning) restricting, regulating, prohibiting or relating to (i) the occupancy, use, or enjoyment of the land; (ii) the character, dimensions or location of any improvement erected on the Land; (iii) the subdivision of land; or (iv) environmental protection; or the effect of any violation of these laws, ordinances or governmental regulations. This Exclusion 1(a) does not modify or limit the coverage provided under Covered Risk 5. 2. Rights of eminent domain. This Exclusion does not modify or limit the coverage provided under Covered Risk 7 or 8. 3. Defects, liens, encumbrances, adverse claims or other matters:(a)created, suffered, assumed or agreed to by the Insured Claimant; (b)not known to the Company, not recorded in the public records at Date of Policy, but known to the Insured Claimant and not disclosed in writing to the Company by the Insured Claimant prior to the date the Insured Claimant became an Insured under this policy; (c) resulting in no loss or damage to the Insured Claimant; (d) attaching or created subsequent to Date of Policy (however, this does not modify or limit the coverage provided under Covered Risk 11, 13 or 14);or(e) resulting in loss or damage that would not have been sustained if the Insured Claimant had paid value for the Insured Mortgage. 4. Unenforceability of the lien of the Insured Mortgage because of the inability or failure of an Insured to comply with applicable doing-business laws of the state in which the Land is situated. 5. Invalidity or unenforceability in whole or in part of the lien of the Insured Mortgage that arises out of the transaction evidenced by the Insured Mortgage and is based upon usury or any consumer credit protection or truth in lending law. 6. Any claim, by reason of the operation of federal bankruptcy, state insolvency, or similar creditors’ rights laws, that the transaction creating the lien of the Insured Mortgage, is (a) a fraudulent conveyance or fraudulent transfer, or (b) a preferential transfer for any reason not stated in Covered Risk 13(b) of this policy. 7. Any lien on the Title for real estate taxes or assessments imposed by governmental authority and created or attaching between Date of Policy and the date of recording of the Insured Mortgage in the Public Records. This Exclusion does not modify or limit the coverage provided under Covered Risk 11(b): EXCEPTIONS FROM COVERAGE This policy does not insure against loss or damage (and the Company will not pay costs, attorneys' fees or expenses) that arise by reason of: 1.(a) Taxes or assessments that are not shown as existing liens by the records of any taxing authority that levies taxes or assessments on real property or by the Public Records; (b) proceedings by a public agency that may result in taxes or assessments, or notices of such proceedings, whether or not shown by the records of such agency or by the Public Records. 2.Any facts, rights, interests or claims which are not shown by the Public Records but that could be ascertained by an inspection of the Land or that may be asserted by persons in possession of the Land. 3.Easements, liens or encumbrances, or claims thereof, not shown by the Public Records. 4.Any encroachment, encumbrance, violation, variation, or adverse circumstance affecting the Title that would be disclosed by an accurate and complete land survey of the Land and not shown by the Public Records. 5.(a) Unpatented mining claims; (b) reservations or exceptions in patents or in Acts authorizing the issuance thereof; (c) water rights, claims or title to water, whether or not the matters excepted under (a), (b) or (c) are shown by the Public Records. 6. Any lien or right to a lien for services, labor or material not shown by the public records. 2006 ALTA OWNER’S POLICY (06-17-06) EXCLUSIONS FROM COVERAGE The following matters are expressly excluded from the coverage of this policy, and the Company will not pay loss or damage, costs, attorneys' fees, or expenses that arise by reason of: 1. (a) Any law, ordinance, permit, or governmental regulation (including those relating to building and zoning) restricting, regulating, prohibiting, or relating to: (i) the occupancy, use, or enjoyment of the Land; (ii) the character, dimensions, or location of any improvement erected on the Land; (iii) the subdivision of land; or (IV) environmental protection; or the effect of any violation of these laws, ordinances, or governmental PA2019-107 Order No. 150-2007435-07 Page 12 regulations. This Exclusion 1(a) does not modify or limit the coverage provided under Covered Risk 5. (b) Any governmental police power. This Exclusion 1(b) does not modify or limit the coverage provided under Covered Risk 6. 2. Rights of eminent domain.  This Exclusion does not modify or limit the coverage provided under Covered Risk 7 or 8. 3. Defects, liens, encumbrances, adverse claims, or other matters: (a) created, suffered, assumed, or agreed to by the Insured Claimant; (b) not Known to the Company, not recorded in the Public Records at Date of Policy, but Known to the Insured Claimant and not disclosed in writing to the Company by the Insured Claimant prior to the date the Insured Claimant became an Insured under this policy;(c) resulting in no loss or damage to the Insured Claimant; (d) attaching or created subsequent to Date of Policy (however, this does not modify or limit the coverage provided under Covered Risk 9 and 10); or (e) resulting in loss or damage that would not have been sustained if the Insured Claimant had paid value for the Title. 4. Any claim, by reason of the operation of federal bankruptcy, state insolvency, or similar creditors’ rights laws, that the transaction vesting the Title as shown in Schedule A, is (a) a fraudulent conveyance or fraudulent transfer; or (b) a preferential transfer for any reason not stated in Covered Risk 9 of this policy. 5. Any lien on the Title for real estate taxes or assessments imposed by governmental authority and created or attaching between Date of Policy and the date of recording of the deed or other instrument of transfer in the Public Records that vests Title as shown in Schedule A. The above policy form may be issued to afford either Standard Coverage or Extended Coverage. In addition to the above Exclusions from Coverage, the Exceptions from Coverage in a Standard Coverage policy will also include the following Exceptions from Coverage: EXCEPTIONS FROM COVERAGE This policy does not insure against loss or damage (and the Company will not pay costs, attorneys’ fees or expenses) that arise by reason of: 1. (a) Taxes or assessments that are not shown as existing liens by the records of any taxing authority that levies taxes or assessments on real property or by the Public Records; (b) proceedings by a public agency that may result in taxes or assessments, or notices of such proceedings, whether or not shown by the records of such agency or by the Public Records. 2. Any facts, rights, interests, or claims that are not shown by the Public Records but that could be ascertained by an inspection of the Land or that may be asserted by persons in possession of the Land. 3. Easements, liens or encumbrances, or claims thereof, not shown by the Public Records. 4. Any encroachment, encumbrance, violation, variation, or adverse circumstance affecting the Title that would be disclosed by an accurate and complete land survey of the Land and that are not shown by the Public Records. 5. (a) Unpatented mining claims; (b) reservations or exceptions in patents or in Acts authorizing the issuance thereof; (c) water rights, claims or title to water, whether or not the matters excepted under (a), (b), or (c) are shown by the Public Records. 6. Any lien or right to a lien for services, labor or material not shown by the public records. ALTA EXPANDED COVERAGE RESIDENTIAL LOAN POLICY (07-26-10) EXCLUSIONS FROM COVERAGE The following matters are expressly excluded from the coverage of this policy and the Company will not pay loss or damage, costs, attorneys fees or expenses which arise by reason of: 1. (a) Any law, ordinance, permit, or governmental regulation (including but not limited to building and zoning) restricting, regulating, prohibiting or relating to (i) the occupancy, use, or enjoyment of the Land; (ii) the character, dimensions or location of any improvement erected on the Land; (iii) the subdivision of the land; or (iv) environmental protection, or the effect of any violation of these laws, ordinances or governmental regulations This Exclusion 1(a) does not modify or limit the coverage provided under Covered Risks 5, 6, 13(c), 13(d), 14, and 16.(b) Any governmental police power. This Exclusion 1(b)does not modify or limit the coverage provided under Covered Risks 5, 6, 13(c), 13(b), 14, and 16. 2. Rights of eminent domain. This Exclusion does not modify or limit the coverage provided under Covered Risk 7 or 8. 3. Defects, liens, encumbrances, adverse claims or other matters (a) created, suffered, assumed or agreed to by the Insured Claimant; (b) not Known to the Company, not recorded in the Public Records at Date of Policy, but Known to the Insured Claimant and not disclosed in writing to the Company by the Insured Claimant prior to the date the Insured Claimant became an Insured under this policy;(c) resulting in no loss or damage to the Insured Claimant;(d) attaching or created subsequent to Date of Policy (however, this does not modify or limit the coverage provided under Covered Risks 11, 16, 17, 18, 19, 20, 21, 22, 23, 24, 27 or 26); or (e)resulting in loss or damage which would not have been sustained if the Insured Claimant had paid value for the Insured Mortgage. 4. Unenforceability of the lien of the Insured Mortgage because of the inability or failure of the Insured to comply with applicable doing-business laws of the state in which the Land is situated. 5. Invalidity or unenforceability in whole or in part of the lien of the Insured Mortgage that arises out of the transaction evidenced by the Insured Mortgage and is based upon usury, or any consumer credit protection or truth in lending law. This Exclusion does not modify or limit the coverage provided in Covered Risk 26. 6. Any claim of invalidity, unenforceability or lack of priority of the lien of the Insured Mortgage as to Advances or modifications made after the Insured has Knowledge that the vestee shown in Schedule A is no longer the owner of the estate or interest covered by this policy. This Exclusion does not modify or limit the coverage provided in Covered Risk 11. 7. Any lien on the Title for real estate taxes or assessments imposed by governmental authority and created or attaching subsequent to Date of Policy in accordance with applicable building codes. This Exclusion does not modify or limit the coverage provided in Covered Risk 5 or 6.. 8. The failure of the residential structure, or any portion of it, to have been constructed before, on or after Date of Policy in accordance with applicable building codes. This Exclusion does not modify or limit the coverage provided in Covered Risk 5 or 6. 9. Any claim, by reason of the operation of federal bankruptcy, state insolvency, or similar creditors’ rights laws, that the transaction creating the lien of the Insured Mortgage, is (a) a fraudulent conveyance or fraudulent transfer, or (b) a preferential transfer for any reason not stated in Covered Risk 27(b) of this policy. PA2019-107 Order No. 150-2007435-07 Page 13 Orange Coast Title Company PRIVACY POLICY We Are Committed to Safeguarding Customer Information In order to better serve your needs now and in the future, we may ask you to provide us with certain information. We understand that you may be concerned about what we will do with such information – particularly any personal or financial information. We agree that you have a right to know how we will utilize the personal information that you provide to us. Therefore, we have adopted this Privacy Policy to govern the use and handling of your personal information. Applicability This Privacy Policy governs our use of the information which you provide to us. It does not govern the manner in which we may use information we have obtained from any other source, such as information obtained from a public record or from another person or entity. Types of Information Depending upon which of our services you are utilizing, the types of nonpublic personal information that we may collect include: Information we receive from you on applications, forms and in other communications to us, whether in writing, in person, by telephone or any other means. Information we receive from providers of services to us, such as appraisers, appraisal management companies, real estate agents and brokers and insurance agencies (this may include the appraised value, purchase price and other details about the property that is the subject of your transaction with us). Information about your transactions with us, our Affiliated Companies, or others; and Information we receive from a consumer reporting agency. Use of Information We request information from you for our own legitimate business purposes and not for benefit of any nonaffiliated party. Therefore, we will not release your information to nonaffiliated parties except: (1) as necessary for us to provide the product or service you have requested of us; or (2) as permitted by law. We may, however, store such information indefinitely, including the period after which any customer relationship has ceased. Such information may be used for any internal purpose, such as quality control efforts or customer analysis. Former Customers Even if you are no longer our customer, our Privacy Policy will continue to apply to you. Confidentiality and Security We will use our best efforts to ensure that no unauthorized parties have access to any of your information. We restrict access to nonpublic personal information about you to those individuals and entities who need to know that information to provide products or services to you. We will use our best efforts to train and oversee our employees and agents to ensure that your information will be handled responsibly and in accordance with this Privacy Policy. We currently maintain physical, electronic, and procedural safeguards that comply with federal regulations to guard your nonpublic personal information. Other Important Information We reserve the right to modify or supplement this Privacy Policy at any time. If our Privacy Policy changes, we will provide the new Privacy Policy before the new policy becomes effective. @ExtractEnd@ PA2019-107 Order No. 150-2007435-07 Page 14 Orange Coast Title Company 2461 W. La Palma Ave, Suite 120 Anaheim, CA 92801 714-822-3211 DECLARATION OF OCCUPANCY (Loan Transaction) The undersigned, _________________________________________________________________________, (owner’s name) depose(s) and say(s) as follows: 1.The undersigned is/are the owner(s) of certain real property situated in in the City of Newport Beach , area of Corona del Mar, County of Orange and State of California, commonly known as 4709 Cortland Drive, herein referred to as “Property”: 2.The undersigned is/are obtaining a loan from ________________________________________________ to be secured by a Deed of Trust against the Property, which is the subject of this transaction. 3.The undersigned currently occupy the Property as the undersigned’s principal address, and intend to continue to occupy the same as the undersigned’s principal residence following the close of this transaction. 4.The undersigned understand(s) that Orange Coast Title Company is relying on this information in calculating the recording fees for all real estate instruments, papers, and notices recorded in connection with this transaction in accordance with California Government Code §27388.1(a)(2). 5.The undersigned agree(s) to indemnify and hold Orange Coast Title Company harmless from and against, and to pay any additional recording fees and/or penalties arising out of, or in connection with, the inaccuracy of the information set forth herein. The undersigned declare(s) under penalty of perjury under the laws of the State of California that the foregoing is true and correct, and that this Declaration was executed on _____________, at ______________________, ___________. By:By: Name:Name: PA2019-107 Order No. 150-2007435-07 Page 15 Orange Coast Title Company 2461 W. La Palma Ave, Suite 120 Anaheim, CA 92801 714-822-3211 150-2007435-07 CUSTOMER AUTHORIZATION TO FREEZE & CLOSE ACCOUNT Lender:__________________________________ Account Number:__________________________________ Borrower(s):__________________________________ Property Address:__________________________________ __________________________________ I/We have frozen the above named account I/We have destroyed or attached all unused checks and/or credit cards supplied by the Lender as means to access the above account. I/We have not drawn checks on the account since _______________, and there are no more outstanding checks. I/We hereby agree to indemnify, defend, and hold the Title Company named above and listed in the preliminary title report for the above order number, together with the Underwriter for said Title Company, free and harmless from and against any and all claims, loss , actions, expense, and damages, including but not limited to, incidental and consequential damages and attorney’s fees, incurred as a result of outstanding checks processed after the issuance date of the payoff statement on which the calculations of the amount necessary to pay the loan in full were based. I/WE HEREBY REQUEST THAT THE ABOVE REFERENCED CREDIT LINE BE CLOSED AS OF THE DATE OF RECEIPT OF SUFFICIENT FUNDS TO PAY THE LOAN IN FULL. ___________________________________________________ Signature of Borrower Date ___________________________________________________ Signature of Borrower Date __________________________________ Daytime Phone Number 2461 W. La Palma Ave, Suite 120 Anaheim, CA 92801 714-822-3211 PA2019-107 Order No. 150-2007435-07 Page 16 Borrower’s Instruction to Suspend and Close Equity Line of Credit Lender: ____________________________________________________________________________ Borrower(s): ________________________________________________________________________ Account Number of the Equity Line of Credit: _______________________________________________ Encumbered Property Address: 4709 Cortland Drive, Corona del Mar, CA 92625 Escrow or Settlement Agent: ___________________________________________________________ In connection with a sale or refinance of the above-referenced property,my Escrow or Settlement Agent has requested a payoff demand statement for the above-described equity line of credit.I understand my ability to use this equity line of credit has been suspended for at least 30 days to accommodate this pending transaction.I understand that I cannot use any credit cards,debit cards,or checks associated with this equity line of credit while it is suspended and all amounts will be due and payable upon close of escrow.I also understand that when payment is made in accordance with the payoff demand statement,my equity line of credit will be closed.If any amounts remain due after the payment is made,I understand I will remain personally liable for those amounts even if the equity line of credit has been closed and the property released. This is my written authorization and instruction that you are to close my equity line of credit and cause the secured lien against this property to be released when you are in receipt of both this instruction and payment in accordance with your payoff statement. __________________________________________________________ Date Signature of Borrower 1 __________________________________________________________ Date Signature of Borrower 2 PA2019-107