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HomeMy WebLinkAboutPA2023-0193_20231010_Title Report This page is only a part of a 2021 ALTA Commitment for Title Insurance issued by Fidelity National 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; and Schedule B, Part II—Exceptions; and a counter-signature by the Company or its issuing agent that may be in electronic form. 27C170B ALTA Commitment for Title Insurance (Effective 7-1-21)Page 1 Copyright ©2021 American Land Title Association. All rights reserved. The use of this Form 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. Fidelity National Title Insurance Company COMMITMENT FOR TITLE INSURANCE Issued by Fidelity National Title Insurance Company NOTICE IMPORTANT—READ CAREFULLY: THIS COMMITMENT IS AN OFFER TO ISSUE ONE OR MORE TITLE INSURANCE POLICIES. ALL CLAIMS OR REMEDIES SOUGHT AGAINST THE COMPANY INVOLVING THE CONTENT OF THIS COMMITMENT OR THE POLICY MUST BE BASED SOLELY IN CONTRACT. THIS COMMITMENT IS NOT AN ABSTRACT OF TITLE, REPORT OF THE CONDITION OF TITLE, LEGAL OPINION, OPINION OF TITLE, OR OTHER REPRESENTATION OF THE STATUS OF TITLE. THE PROCEDURES USED BY THE COMPANY TO DETERMINE INSURABILITY OF THE TITLE, INCLUDING ANY SEARCH AND EXAMINATION, ARE PROPRIETARY TO THE COMPANY, WERE PERFORMED SOLELY FOR THE BENEFIT OF THE COMPANY, AND CREATE NO EXTRACONTRACTUAL LIABILITY TO ANY PERSON, INCLUDING A PROPOSED INSURED. THE COMPANY’S OBLIGATION UNDER THIS COMMITMENT IS TO ISSUE A POLICY TO A PROPOSED INSURED IDENTIFIED IN SCHEDULE A IN ACCORDANCE WITH THE TERMS AND PROVISIONS OF THIS COMMITMENT. THE COMPANY HAS NO LIABILITY OR OBLIGATION INVOLVING THE CONTENT OF THIS COMMITMENT TO ANY OTHER PERSON. COMMITMENT TO ISSUE POLICY Subject to the Notice; Schedule B, Part I—Requirements; Schedule B, Part II—Exceptions; and the Commitment Conditions, Fidelity National Title Insurance Company, a Florida (the “Company”), commits to issue the Policy according to the terms and provisions of this Commitment. This Commitment is effective as of the Commitment Date shown in Schedule A for each Policy described in Schedule A, only when the Company has entered in Schedule A both the specified dollar amount as the Proposed Amount of Insurance and the name of the Proposed Insured. If all of the Schedule B, Part I—Requirements have not been met within 180 days after the Commitment Date, this Commitment terminates and the Company’s liability and obligation end. Order No. 30107235-995-MAL-2AA This page is only a part of a 2021 ALTA Commitment for Title Insurance issued by Fidelity National 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; and Schedule B, Part II—Exceptions; and a counter-signature by the Company or its issuing agent that may be in electronic form. 27C170B ALTA Commitment for Title Insurance (Effective 7-1-21)Page 2 Copyright ©2021 American Land Title Association. All rights reserved. The use of this Form 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. COMMITMENT CONDITIONS 1.DEFINITIONS a.“Discriminatory Covenant”: Any covenant, condition, restriction, or limitation that is unenforceable under applicable law because it illegally discriminates against a class of individuals based on personal characteristics such as race, color, religion, sex, sexual orientation, gender identity, familial status, disability, national origin, or other legally protected class. b.“Knowledge” or “Known”: Actual knowledge or actual notice, but not constructive notice imparted by the Public Records. c.“Land”: The land described in Item 5 of Schedule A and improvements located on that land that by law constitute real property. The term “Land” does not include any property beyond that described in Schedule A, nor any right, title, interest, estate, or easement in any abutting street, road, avenue, alley, lane, right-of-way, body of water, or waterway, but does not modify or limit the extent that a right of access to and from the Land is to be insured by the Policy. d.“Mortgage”: A mortgage, deed of trust, trust deed, security deed, or other real property security instrument, including one evidenced by electronic means authorized by law. e.“Policy”: Each contract of title insurance, in a form adopted by the American Land Title Association, issued or to be issued by the Company pursuant to this Commitment. f.“Proposed Amount of Insurance”: Each dollar amount specified in Schedule A as the Proposed Amount of Insurance of each Policy to be issued pursuant to this Commitment. g.“Proposed Insured”: Each person identified in Schedule A as the Proposed Insured of each Policy to be issued pursuant to this Commitment. h.“Public Records”: The recording or filing system established under state statutes in effect at the Commitment Date under which a document must be recorded or filed to impart constructive notice of matters relating to the Title to a purchaser for value without Knowledge. The term “Public Records” does not include any other recording or filing system, including any pertaining to environmental protection, planning, permitting, zoning, licensing, building, health, public safety, or national security matters. i.“State”: The state or commonwealth of the United States within whose exterior boundaries the Land is located. The term “State” also includes the District of Columbia, the Commonwealth of Puerto Rico, the U.S. Virgin Islands, and Guam. j.“Title”: The estate or interest in the Land identified in Item 3 of Schedule A. 2.If all of the Schedule B, Part I—Requirements have not been met within the time period specified in the Commitment to Issue Policy, this Commitment terminates and the Company’s liability and obligation end. 3.The Company’s liability and obligation is limited by and this Commitment is not valid without: a.the Notice; b.the Commitment to Issue Policy; c.the Commitment Conditions; d.Schedule A; e.Schedule B, Part I—Requirements; and f.Schedule B, Part II—Exceptions; and g.a counter-signature by the Company or its issuing agent that may be in electronic form. Order No. 30107235-995-MAL-2AA This page is only a part of a 2021 ALTA Commitment for Title Insurance issued by Fidelity National 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; and Schedule B, Part II—Exceptions; and a counter-signature by the Company or its issuing agent that may be in electronic form. 27C170B ALTA Commitment for Title Insurance (Effective 7-1-21)Page 3 Copyright ©2021 American Land Title Association. All rights reserved. The use of this Form 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. 4.COMPANY’S RIGHT TO AMEND The Company may amend this Commitment at any time. If the Company amends this Commitment to add a defect, lien, encumbrance, adverse claim, or other matter recorded in the Public Records prior to the Commitment Date, any liability of the Company is limited by Commitment Condition 5. The Company is not liable for any other amendment to this Commitment. 5.LIMITATIONS OF LIABILITY a.The Company’s liability under Commitment Condition 4 is limited to the Proposed Insured’s actual expense incurred in the interval between the Company’s delivery to the Proposed Insured of the Commitment and the delivery of the amended Commitment, resulting from the Proposed Insured’s good faith reliance to: i.comply with the Schedule B, Part I—Requirements; ii.eliminate, with the Company’s written consent, any Schedule B, Part II—Exceptions; or iii.acquire the Title or create the Mortgage covered by this Commitment. b.The Company is not liable under Commitment Condition 5.a. if the Proposed Insured requested the amendment or had Knowledge of the matter and did not notify the Company about it in writing. c.The Company is only liable under Commitment Condition 4 if the Proposed Insured would not have incurred the expense had the Commitment included the added matter when the Commitment was first delivered to the Proposed Insured. d.The Company’s liability does not exceed the lesser of the Proposed Insured’s actual expense incurred in good faith and described in Commitment Condition 5.a. or the Proposed Amount of Insurance. e. The Company is not liable for the content of the Transaction Identification Data, if any. f.The Company is not obligated to issue the Policy referred to in this Commitment unless all of the Schedule B, Part I—Requirements have been met to the satisfaction of the Company. g.The Company’s liability is further limited by the terms and provisions of the Policy to be issued to the Proposed Insured. 6.LIABILITY OF THE COMPANY MUST BE BASED ON THIS COMMITMENT a.Only a Proposed Insured identified in Schedule A, and no other person, may make a claim under this Commitment. b.Any claim must be based in contract and is restricted to the terms and provisions of this Commitment. c.This Commitment, as last revised, is the exclusive and entire agreement between the parties with respect to the subject matter of this Commitment and supersedes all prior commitment negotiations, representations, and proposals of any kind, whether written or oral, express or implied, relating to the subject matter of this Commitment. d.The deletion or modification of any Schedule B, Part II—Exception does not constitute an agreement or obligation to provide coverage beyond the terms and provisions of this Commitment or the Policy. e.Any amendment or endorsement to this Commitment must be in writing and authenticated by a person authorized by the Company. f.When the Policy is issued, all liability and obligation under this Commitment will end and the Company’s only liability will be under the Policy. Order No. 30107235-995-MAL-2AA This page is only a part of a 2021 ALTA Commitment for Title Insurance issued by Fidelity National 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; and Schedule B, Part II—Exceptions; and a counter-signature by the Company or its issuing agent that may be in electronic form. 27C170B ALTA Commitment for Title Insurance (Effective 7-1-21)Page 4 Copyright ©2021 American Land Title Association. All rights reserved. The use of this Form 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. 7.IF THIS COMMITMENT IS ISSUED BY AN ISSUING AGENT The issuing agent is the Company’s agent only for the limited purpose of issuing title insurance commitments and policies. The issuing agent is not the Company’s agent for the purpose of providing closing or settlement services. 8.PROFORMA POLICY The Company may provide, at the request of a Proposed Insured, a proforma policy illustrating the coverage that the Company may provide. A proforma policy neither reflects the status of Title at the time that the pro-forma policy is delivered to a Proposed Insured, nor is it a commitment to insure. 9.CLAIMS PROCEDURES This Commitment incorporates by reference all Conditions for making a claim in the Policy to be issued to the Proposed Insured. This Commitment Condition does not modify the limitations of liability in Commitment Conditions 5 and 6. 10.CLASS ACTION ALL CLAIMS AND DISPUTES ARISING OUT OF OR RELATING TO THIS COMMITMENT, INCLUDING ANY SERVICE OR OTHER MATTER IN CONNECTION WITH ISSUING THIS COMMITMENT, ANY BREACH OF A COMMITMENT PROVISION, OR ANY OTHER CLAIM OR DISPUTE ARISING OUT OF OR RELATING TO THE TRANSACTION GIVING RISE TO THIS COMMITMENT, MUST BE BROUGHT IN AN INDIVIDUAL CAPACITY. NO PARTY MAY SERVE AS PLAINTIFF, CLASS MEMBER, OR PARTICIPANT IN ANY CLASS OR REPRESENTATIVE PROCEEDING. ANY POLICY ISSUED PURSUANT TO THIS COMMITMENT WILL CONTAIN A CLASS ACTION CONDITION. 11.ARBITRATION The Policy contains an arbitration clause. All arbitrable matters when the Proposed Amount of Insurance is $2,000,000 or less may be arbitrated at the election of either the Company or the Proposed Insured as the exclusive remedy of the parties. A Proposed Insured may review a copy of the arbitration rules at http://www.alta.org/arbitration. Order No.: 30107235-995-MAL-2AA This page is only a part of a 2021 ALTA Commitment for Title Insurance issued by Fidelity National 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; and Schedule B, Part II—Exceptions; and a counter-signature by the Company or its issuing agent that may be in electronic form. 27C170B ALTA Commitment for Title Insurance (Effective 7-1-21)Page 1 Copyright ©2021 American Land Title Association. All rights reserved. The use of this Form 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. Transaction Identification Data, for which the Company assumes no liability as set forth in Commitment Condition 5.e.: Issuing Agent:Fidelity National Title Company Issuing Office: 555 S. Flower Street, Suite 4420, Los Angeles, CA 90071 ALTA® Universal ID: Loan ID Number: Commitment Number: Issuing Office File Number:30107235-995-MAL-2AA Property Address:2521 Eastbluff Drive, Newport Beach, CA 92660 Revision Number: SCHEDULE A AMERICAN LAND TITLE ASSOCIATION COMMITMENT 1.Commitment Date: August 31, 2023 2.Policy to be issued: (a)ALTA Standard Owners Policy (6-17-06) Proposed Insured: Purchaser with contractual rights under a purchase agreement with the vested owner identified at Item 4 below. Proposed Amount of Insurance: $0.00 The estate or interest to be insured: A FEE (b)None Proposed Insured: Proposed Amount of Insurance: $0.00 The estate or interest to be insured: A FEE (c)None Proposed Insured: Proposed Amount of Insurance: $0.00 The estate or interest to be insured: 3.The estate or interest in the Land at the Commitment Date is: A Fee as to Parcel(s) A; Easement(s) more fully described below as to Parcel(s) B and C Order No.: 30107235-995-MAL-2AA SCHEDULE A (Continued) This page is only a part of a 2021 ALTA Commitment for Title Insurance issued by Fidelity National 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; and Schedule B, Part II—Exceptions; and a counter-signature by the Company or its issuing agent that may be in electronic form. 27C170B ALTA Commitment for Title Insurance (Effective 7-1-21)Page 2 Copyright ©2021 American Land Title Association. All rights reserved. The use of this Form 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. 4.The Title is, at the Commitment Date, vested in: THE IRVINE COMPANY LLC, a Delaware limited liability company, successor by conversion to THE IRVINE COMPANY, a Delaware corporation 5.The Land is described as follows: See Exhibit A attached hereto and made a part hereof. Countersigned by: Authorized Signature Order No.: 30107235-995-MAL-2AA This page is only a part of a 2021 ALTA Commitment for Title Insurance issued by Fidelity National 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; and Schedule B, Part II—Exceptions; and a counter-signature by the Company or its issuing agent that may be in electronic form. 27C170B ALTA Commitment for Title Insurance (Effective 7-1-21)Page 3 Copyright ©2021 American Land Title Association. All rights reserved. The use of this Form 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. EXHIBIT A LEGAL DESCRIPTION THE LAND REFERRED TO HEREIN BELOW IS SITUATED IN THE CITY OF NEWPORT BEACH, COUNTY OF ORANGE, STATE OF CALIFORNIA, AND IS DESCRIBED AS FOLLOWS: PARCEL A: PARCELS 1 AND 2, IN THE CITY OF NEWPORT BEACH, COUNTY OF ORANGE, STATE OF CALIFORNIA, AS SHOWN ON EXHIBIT B1 ATTACHED TO LOT LINE ADJUSTMENT N.B.L.L.A. NO. 98-14, RECORDED MARCH 23, 1999 AS INSTRUMENT NO. 19990211252, OF OFFICIAL RECORDS OF ORANGE COUNTY, CALIFORNIA. PARCEL B: AN EASEMENT FOR INGRESS AND EGRESS OVER A STRIP OF LAND 25.00 FEET IN WIDTH LYING WITHIN PARCEL 1, IN THE CITY OF NEWPORT BEACH, COUNTY OF ORANGE, STATE OF CALIFORNIA, AS PER MAP FILED IN BOOK 5, PAGE 19 OF PARCEL MAPS, OFFICE OF THE COUNTY RECORDER, SAID STRIP OF LAND LYING ADJACENT TO AND NORTHERLY OF THAT CERTAIN PARCEL LINE AS SHOWN ON SAID MAP DESCRIBED AS FOLLOWS: BEGINNING AT THE MOST EASTERLY CORNER OF PARCEL 2 OF SAID MAP FILED IN BOOK 5, PAGE 19 OF PARCEL MAPS, IN THE OFFICE OF THE COUNTY RECORDER, SAID POINT BEING ON THE WESTERLY LINE OF EASTBLUFF DRIVE AS SHOWN ON SAID MAP; THENCE NORTH 45° 28’ 00” WEST, 15.00 FEET TO THE BEGINNING OF A TANGENT CURVE CONCAVE SOUTHERLY, HAVING A RADIUS OF 115.00 FEET; THENCE NORTHWESTERLY, WESTERLY AND SOUTHWESTERLY ALONG SAID CURVE THROUGH A CENTRAL ANGLE OF 108° 45’ 00” 218.28 FEET. PARCEL C: A 16 FEET WIDE PRIVATE DRIVEWAY EASEMENT, AS SHOWN ON THE MAP OF TRACT NO. 6905, RECORDED IN BOOK 308, PAGES 27 TO 32 INCLUSIVE OF MISCELLANEOUS MAPS. APN: 440-291-09 AND APN: 440-291-10 Order No.: 30107235-995-MAL-2AA This page is only a part of a 2021 ALTA Commitment for Title Insurance issued by Fidelity National 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; and Schedule B, Part II—Exceptions; and a counter-signature by the Company or its issuing agent that may be in electronic form. 27C170B ALTA Commitment for Title Insurance (Effective 7-1-21)Page 4 Copyright ©2021 American Land Title Association. All rights reserved. The use of this Form 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. SCHEDULE B – PART I REQUIREMENTS All of the following Requirements must be met: 1.The Proposed Insured must notify the Company in writing of the name of any party not referred to in this Commitment who will obtain an interest in the Land or who will make a loan on the Land. The Company may then make additional Requirements or Exceptions. 2.Pay the agreed amount for the estate or interest to be insured. 3.Pay the premiums, fees, and charges for the Policy to the Company. 4.Documents satisfactory to the Company that convey the Title or create the Mortgage to be insured, or both, must be properly authorized, executed, delivered, and recorded in the Public Records. 5.For each policy to be issued as identified in Schedule A, Item 2; the Company shall not be liable under this commitment until it receives a designation for a Proposed Insured, acceptable to the Company. As provided in Commitment Condition 4, the Company may amend this commitment to add, among other things, additional exceptions or requirements after the designation of the Proposed Insured. 6.Release(s) or Reconveyance(s) of Item No(s). 18. Order No.: 30107235-995-MAL-2AA SCHEDULE B PART I – REQUIREMENTS (Continued) This page is only a part of a 2021 ALTA Commitment for Title Insurance issued by Fidelity National 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; and Schedule B, Part II—Exceptions; and a counter-signature by the Company or its issuing agent that may be in electronic form. 27C170B ALTA Commitment for Title Insurance (Effective 7-1-21)Page 5 Copyright ©2021 American Land Title Association. All rights reserved. The use of this Form 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. 7.The Company will require the following documents for review prior to the issuance of any title insurance predicated upon a conveyance or encumbrance from the entity named below: Limited Liability Company:The Irvine Company LLC, a Delaware limited liability company a)A copy of its operating agreement, if any, and all amendments, supplements and/or modifications thereto, certified by the appropriate manager or member. b)If a domestic Limited Liability Company, a copy of its Articles of Organization and all amendments thereto with the appropriate filing stamps. c)If the Limited Liability Company is member-managed, a full and complete current list of members certified by the appropriate manager or member. d)A current dated certificate of good standing from the proper governmental authority of the state in which the entity is currently domiciled. e)If less than all members, or managers, as appropriate, will be executing the closing documents, furnish evidence of the authority of those signing. f)If Limited Liability Company is a Single Member Entity, a Statement of Information for the Single Member will be required. g)Each member and manager of the LLC without an Operating Agreement must execute in the presence of a notary public the Certificate of California LLC (Without an Operating Agreement) Status and Authority form. 8.In order to complete this report, the Company requires a Statement of Information to be completed by the following party(s), Party(s):All Parties The Company reserves the right to add additional items or make further requirements after review of the requested Statement of Information. NOTE:The Statement of Information is necessary to complete the search and examination of title under this order. Any title search includes matters that are indexed by name only, and having a completed Statement of Information assists the Company in the elimination of certain matters which appear to involve the parties but in fact affect another party with the same or similar name. Be assured that the Statement of Information is essential and will be kept strictly confidential to this file. Order No.: 30107235-995-MAL-2AA SCHEDULE B PART I – REQUIREMENTS (Continued) This page is only a part of a 2021 ALTA Commitment for Title Insurance issued by Fidelity National 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; and Schedule B, Part II—Exceptions; and a counter-signature by the Company or its issuing agent that may be in electronic form. 27C170B ALTA Commitment for Title Insurance (Effective 7-1-21)Page 6 Copyright ©2021 American Land Title Association. All rights reserved. The use of this Form 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. 9.Unrecorded matters which may be disclosed by an Owner’s Affidavit or Declaration. A form of the Owner’s Affidavit/Declaration is attached to this Preliminary Report/Commitment. This Affidavit/Declaration is to be completed by the record owner of the land and submitted for review prior to the closing of this transaction. Your prompt attention to this requirement will help avoid delays in the closing of this transaction. Thank you. The Company reserves the right to add additional items or make further requirements after review of the requested Affidavit/Declaration. END OF SCHEDULE B – Part I Order No.: 30107235-995-MAL-2AA This page is only a part of a 2021 ALTA Commitment for Title Insurance issued by Fidelity National 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; and Schedule B, Part II—Exceptions; and a counter-signature by the Company or its issuing agent that may be in electronic form. 27C170B ALTA Commitment for Title Insurance (Effective 7-1-21)Page 7 Copyright ©2021 American Land Title Association. All rights reserved. The use of this Form 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. 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: I.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. II.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. III.Easements, liens or encumbrances, or claims thereof, which are not shown by the public records. IV.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. V.(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. VI.Any lien or right to a lien for services, labor or material not shown by the public records. VII.Defects, liens, encumbrances, adverse claims or other matters, if any, created, first appearing in the Public Records or attaching to the subsequent effective date hereof but prior to the date the proposed Insured acquires of records for value the estate or interest or mortgage thereon covered by this Commitment. Order No.: 30107235-995-MAL-2AA SCHEDULE B PART II – EXCEPTIONS (Continued) This page is only a part of a 2021 ALTA Commitment for Title Insurance issued by Fidelity National 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; and Schedule B, Part II—Exceptions; and a counter-signature by the Company or its issuing agent that may be in electronic form. 27C170B ALTA Commitment for Title Insurance (Effective 7-1-21)Page 8 Copyright ©2021 American Land Title Association. All rights reserved. The use of this Form 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. A.Property taxes, which are a lien not yet due and payable, including any assessments collected with taxes to be levied for the fiscal year 2023 - 2024. B.The lien of supplemental or escaped assessments of property taxes, if any, made pursuant to the provisions of Chapter 3.5 (commencing with Section 75) or Part 2, Chapter 3, Articles 3 and 4, respectively, of the Revenue and Taxation Code of the State of California as a result of the transfer of title to the vestee named in Schedule A or as a result of changes in ownership or new construction occurring prior to Date of Policy. 1.Water rights, claims or title to water, whether or not disclosed by the public records. 2.A perpetual air or flight easement, sometimes referred to as avigation rights, in and to all the air space above those portions of particular planes or imaginary surfaces that overlie said Land for use by aircraft, present or future, from or to the Orange County Airport, said easements and rights being more particularly described and defined in and granted to the County of Orange by deed set forth below: Recording Date:March 17, 1964 Recording No.:Book 6965, Page 721, of Official Records The planes above which said easement lies are more particularly described in said Deed and shown on a map referred to therein. 3.Easement(s) for the purpose(s) shown below and rights incidental thereto, as granted in a document: Granted to:Southern California Edison Company, a corporation Purpose:Electrical conduits and appurtenances Recording Date:September 30, 1966 Recording No:Book 8064, Page 25, of Official Records Affects:A portion of said land. 4.An unrecorded lease with certain terms, covenants, conditions and provisions set forth therein as disclosed by the document Entitled:Revised Ground Lease (Tennis Club) (Short Form – Memorandum) Lessor:The Irvine Company, a West Virginia corporation Lessee:Newport Beach Tennis Club, a California corporation Recording Date:May 26, 1967 Recording No:Book 8264, Page 342, of Official Records Affects:Parcels B and C. Order No.: 30107235-995-MAL-2AA SCHEDULE B PART II – EXCEPTIONS (Continued) This page is only a part of a 2021 ALTA Commitment for Title Insurance issued by Fidelity National 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; and Schedule B, Part II—Exceptions; and a counter-signature by the Company or its issuing agent that may be in electronic form. 27C170B ALTA Commitment for Title Insurance (Effective 7-1-21)Page 9 Copyright ©2021 American Land Title Association. All rights reserved. The use of this Form 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. An agreement to amend or modify certain provisions of said lease, as set forth in the document executed by: Recording Date:December 6, 1967 Recording No:Book 8457, Page 412, of Official Records and Recording Date:May 25, 1971 and Recording No:Book 9651, Page 846, of Official Records and Recording Date:October 12, 1972 and Recording No:Book 10369, Page 637, of Official Records and Recording Date:August 20, 1973 and Recording No:Book 10859, Page 643, of Official Records The present ownership of the leasehold created by said lease and other matters affecting the interest of the lessee are not shown herein. 5.Easement(s) for the purpose(s) shown below and rights incidental thereto, as delineated on or as offered for dedication on Map/Plat:Parcel Map Recording Date:November 24, 1967 Recording No:Book 11, Page 8, of Maps Purpose:Public utilities Affects:As shown on said map. 6.The ownership of said Land does not include rights of access to or from the street, highway, or freeway abutting said Land, such rights having been relinquished by the document, Recording Date:February 23, 1968 Recording No:Book 8525, Page 584, of Official Records Affects:A portion of said land. 7.Easement(s) for the purpose(s) shown below and rights incidental thereto, as granted in a document: Granted to:City of Newport Beach Purpose:Public utilities Recording Date:March 20, 1968 Recording No:Book 8548, Page 156, of Official Records Affects:A portion of said land. Order No.: 30107235-995-MAL-2AA SCHEDULE B PART II – EXCEPTIONS (Continued) This page is only a part of a 2021 ALTA Commitment for Title Insurance issued by Fidelity National 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; and Schedule B, Part II—Exceptions; and a counter-signature by the Company or its issuing agent that may be in electronic form. 27C170B ALTA Commitment for Title Insurance (Effective 7-1-21)Page 10 Copyright ©2021 American Land Title Association. All rights reserved. The use of this Form 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. 8.Easement(s) for the purpose(s) shown below and rights incidental thereto, as granted in a document: Granted to:City of Newport Beach, a municipal corporation Purpose:Public utilities Recording Date:April 24, 1968 Recording No:Book 8582, Page 166, of Official Records Affects:Parcels B and C. 9.An unrecorded lease with certain terms, covenants, conditions and provisions set forth therein as disclosed by the document Entitled:Lease (Short Form – Memorandum) Lessor:The Irvine Company Lessee:El Rancho Markets, Inc., a California corporation Recording Date:June 26, 1968 Recording No:Book 8641, Page 400, of Official Records The present ownership of the leasehold created by said lease and other matters affecting the interest of the lessee are not shown herein. 10.Easement(s) for the purpose(s) shown below and rights incidental thereto, as granted in a document: Purpose:Road Recording Date:February 3, 1972 Recording No:Book 9989, Page 528, of Official Records Affects:A portion of said land. and Recording Date:February 3, 1972 and Recording No:Book 9989, Page 530, of Official Records 11.Easement(s) for the purpose(s) shown below and rights incidental thereto, as granted in a document: Granted to:Southern California Edison Company, a corporation Purpose:Electrical conduits and appurtenances thereto Recording Date:January 10, 1973 Recording No:Book 10508, Page 979, of Official Records Affects:That portion of said land. Order No.: 30107235-995-MAL-2AA SCHEDULE B PART II – EXCEPTIONS (Continued) This page is only a part of a 2021 ALTA Commitment for Title Insurance issued by Fidelity National 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; and Schedule B, Part II—Exceptions; and a counter-signature by the Company or its issuing agent that may be in electronic form. 27C170B ALTA Commitment for Title Insurance (Effective 7-1-21)Page 11 Copyright ©2021 American Land Title Association. All rights reserved. The use of this Form 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. 12.Matters contained in that certain document Entitled:Declaration of Access Easement Recording Date:September 27, 1993 Recording No:93-0652423, of Official Records Reference is hereby made to said document for full particulars. and Recording Date:December 15, 1993 and Recording No:93-0870866, of Official Records 13.Discrepancies, conflicts in boundary lines, shortage in area, encroachments, or any other matters shown on Map:Record of Survey Map No. 93-1049 Recording No:Book 143, Page 43, of Record of Surveys 14.Matters contained in that certain document Entitled:Consent to Building Encroachment (Underground) Dated:April 22, 1994 Executed by:Southern California Edison Company, a corporation Recording Date:June 2, 1994 Recording No:94-0376721, of Official Records Reference is hereby made to said document for full particulars. 15.An unrecorded lease with certain terms, covenants, conditions and provisions set forth therein as disclosed by the document Entitled:Memorandum of Lease Lessor:The Irvine Company, a Delaware corporation dba Irvine Retail Properties Company Lessee:American Drug Stores, Inc., an Illinois corporation Recording Date:October 9, 1998 Recording No:19980685386, of Official Records The present ownership of the leasehold created by said lease and other matters affecting the interest of the lessee are not shown herein. Order No.: 30107235-995-MAL-2AA SCHEDULE B PART II – EXCEPTIONS (Continued) This page is only a part of a 2021 ALTA Commitment for Title Insurance issued by Fidelity National 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; and Schedule B, Part II—Exceptions; and a counter-signature by the Company or its issuing agent that may be in electronic form. 27C170B ALTA Commitment for Title Insurance (Effective 7-1-21)Page 12 Copyright ©2021 American Land Title Association. All rights reserved. The use of this Form 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. 16.Matters contained in that certain document Entitled:Declaration Recording Date:March 23, 1999 Recording No:19990211253, of Official Records Reference is hereby made to said document for full particulars. 17.Easement(s) for the purpose(s) shown below and rights incidental thereto, as granted in a document: Granted to:Southern California Edison Company, a corporation Purpose:Public utilities Recording Date:October 23, 2019 Recording No:2019000414608, of Official Records Affects:A portion of the land. 18.A Deed of Trust to secure an indebtedness in the amount shown below, Amount:$25,220,000.00 Dated:December 1, 2021 Trustor/Grantor:The Irvine Company LLC, a Delaware limited liability company Trustee:First American Title Insurance Company Beneficiary:Hartford Fire Insurance Company, a Connecticut corporation Loan No.:BHM29R682 Recording Date:December 1, 2021 Recording No:2021000727935, of Official Records Affects: The herein described Land and other land. 19.A financing statement as follows: Debtor:The Irvine Company LLC Secured Party:Hartford Fire Insurance Company Recording Date:December 1, 2021 Recording No:2021000727937, of Official Records Affects: The herein described Land and other land. Order No.: 30107235-995-MAL-2AA SCHEDULE B PART II – EXCEPTIONS (Continued) This page is only a part of a 2021 ALTA Commitment for Title Insurance issued by Fidelity National 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; and Schedule B, Part II—Exceptions; and a counter-signature by the Company or its issuing agent that may be in electronic form. 27C170B ALTA Commitment for Title Insurance (Effective 7-1-21)Page 13 Copyright ©2021 American Land Title Association. All rights reserved. The use of this Form 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. 20.Discrepancies, conflicts in boundary lines, shortage in area, encroachments, or any other matters which a correct survey would disclose and which are not shown by the public records. In order to delete the survey exception shown above, a satisfactory survey of the subject Land, which complies with the minimum standards for land surveys made for title insurance purposes, is to be furnished to the Company. The Company reserves the right to add additional items as disclosed by the survey, or make further requirements after review of the requested documentation. 21.Any easements not disclosed by the public records as to matters affecting title to real property, whether or not said easements are visible and apparent. 22.Matters which may be disclosed by an inspection and/or by a correct ALTA/NSPS Land Title Survey of said Land that is satisfactory to the Company, and/or by inquiry of the parties in possession thereof. 23.Any rights of the parties in possession of a portion of, or all of, said Land, which rights are not disclosed by the public records. The Company will require, for review, a full and complete copy of any unrecorded agreement, contract, license and/or lease, together with all supplements, assignments and amendments thereto, before issuing any policy of title insurance without excepting this item from coverage. The Company reserves the right to except additional items and/or make additional requirements after reviewing said documents. 24.The transaction contemplated in connection with this Report is subject to the review and approval of the Company’s Corporate Underwriting Department. The Company reserves the right to add additional items or make further requirements after such review. END OF SCHEDULE B – PART II Order No.: 30107235-995-MAL-2AA This page is only a part of a 2021 ALTA Commitment for Title Insurance issued by Fidelity National 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; and Schedule B, Part II—Exceptions; and a counter-signature by the Company or its issuing agent that may be in electronic form. 27C170B ALTA Commitment for Title Insurance (Effective 7-1-21)Page 1 Copyright ©2021 American Land Title Association. All rights reserved. The use of this Form 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. INFORMATIONAL NOTES 1.Note: Property taxes, including any personal property taxes and any assessments collected with taxes, are paid. For proration purposes the amounts were: Tax Identification No.:440-291-09 Fiscal Year:2022 - 2023 1st Installment:$17,014.73 2nd Installment:$17,014.73 Exemption:$0.00 Code Area:07-042 2.Note: Property taxes, including any personal property taxes and any assessments collected with taxes, are paid. For proration purposes the amounts were: Tax Identification No.:440-291-10 Fiscal Year:2022 - 2023 1st Installment:$27,017.77 2nd Installment:$27,017.77 Exemption:$0.00 Code Area:07-042 3.None of the items shown in this report will cause the Company to decline to attach CLTA Endorsement Form 100 to an Extended Coverage Loan Policy, when issued. 4.Note: The policy of title insurance will include an arbitration provision. The Company or the insured may demand arbitration. Arbitrable matters may include, but are not limited to, any controversy or claim between the Company and the insured arising out of or relating to this policy, any service of the Company in connection with its issuance or the breach of a policy provision or other obligation. Please ask your escrow or title officer for a sample copy of the policy to be issued if you wish to review the arbitration provisions and any other provisions pertaining to your Title Insurance coverage. 5.Notice: Please be aware that due to the conflict between federal and state laws concerning the cultivation, distribution, manufacture or sale of marijuana, the Company is not able to close or insure any transaction involving Land that is associated with these activities. 6.Pursuant to Government Code Section 27388.1, as amended and effective as of 1-1-2018, a Documentary Transfer Tax (DTT) Affidavit may be required to be completed and submitted with each document when DTT is being paid or when an exemption is being claimed from paying the tax. If a governmental agency is a party to the document, the form will not be required. DTT Affidavits may be available at a Tax Assessor-County Clerk-Recorder. Order No.: 30107235-995-MAL-2AA INFORMATIONAL NOTES (Continued) This page is only a part of a 2021 ALTA Commitment for Title Insurance issued by Fidelity National 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; and Schedule B, Part II—Exceptions; and a counter-signature by the Company or its issuing agent that may be in electronic form. 27C170B ALTA Commitment for Title Insurance (Effective 7-1-21)Page 2 Copyright ©2021 American Land Title Association. All rights reserved. The use of this Form 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. 7.The following Exclusion(s) are added to preliminary reports, commitments and will be included as an endorsement in the following policies: A.2006 ALTA Owner’s Policy (06-17-06). 6.Defects, liens, encumbrances, adverse claims, notices, or other matters not appearing in the Public Records but that would be disclosed by an examination of any records maintained by or on behalf of a Tribe or on behalf of its members. B.2006 ALTA Loan Policy (06-17-06). 8.Defects, liens, encumbrances, adverse claims, notices, or other matters not appearing in the Public Records but that would be disclosed by an examination of any records maintained by or on behalf of a Tribe or on behalf of its members. 9.Any claim of invalidity, unenforceability, or lack of priority of the lien of the Insured Mortgage based on the application of a Tribe’s law resulting from the failure of the Insured Mortgage to specify State law as the governing law with respect to the lien of the Insured Mortgage. C.ALTA Homeowner’s Policy of Title Insurance (12-02-13) and CLTA Homeowner's Policy of Title Insurance (12-02-13). 10.Defects, liens, encumbrances, adverse claims, notices, or other matters not appearing in the Public Records but that would be disclosed by an examination of any records maintained by or on behalf of a Tribe or on behalf of its members. D.ALTA Expanded Coverage Residential Loan Policy - Assessments Priority (04-02-15). 12.Defects, liens, encumbrances, adverse claims, notices, or other matters not appearing in the Public Records but that would be disclosed by an examination of any records maintained by or on behalf of a Tribe or on behalf of its members. 13.Any claim of invalidity, unenforceability, or lack of priority of the lien of the Insured Mortgage based on the application of a Tribe’s law resulting from the failure of the Insured Mortgage to specify State law as the governing law with respect to the lien of the Insured Mortgage. E.CLTA Standard Coverage Policy 1990 (11-09-18). 7.Defects, liens, encumbrances, adverse claims, notices, or other matters not appearing in the public records but that would be disclosed by an examination of any records maintained by or on behalf of a tribe or on behalf of its members. 8.Any claim of invalidity, unenforceability, or lack of priority of the lien of the insured mortgage based on the application of a tribe’s law resulting from the failure of the insured mortgage to specify state law as the governing law with respect to the lien of the insured mortgage. Order No.: 30107235-995-MAL-2AA INFORMATIONAL NOTES (Continued) This page is only a part of a 2021 ALTA Commitment for Title Insurance issued by Fidelity National 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; and Schedule B, Part II—Exceptions; and a counter-signature by the Company or its issuing agent that may be in electronic form. 27C170B ALTA Commitment for Title Insurance (Effective 7-1-21)Page 3 Copyright ©2021 American Land Title Association. All rights reserved. The use of this Form 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. 8.Note: There are NO conveyances affecting said Land recorded within 24 months of the date of this report. END OF INFORMATIONAL NOTES Wire Fraud Alert Page 1 Original Effective Date: 5/11/2017 Current Version Date: 5/11/2017 WIRE0016 (DSI Rev. 12/07/17) TM and © Fidelity National Financial, Inc. and/or an affiliate. All rights reserved Wire Fraud Alert This Notice is not intended to provide legal or professional advice. If you have any questions, please consult with a lawyer. All parties to a real estate transaction are targets for wire fraud and many have lost hundreds of thousands of dollars because they simply relied on the wire instructions received via email, without further verification. If funds are to be wired in conjunction with this real estate transaction, we strongly recommend verbal verification of wire instructions through a known, trusted phone number prior to sending funds. In addition, the following non‐exclusive self‐protection strategies are recommended to minimize exposure to possible wire fraud. NEVER RELY on emails purporting to change wire instructions. Parties to a transaction rarely change wire instructions in the course of a transaction. ALWAYS VERIFY wire instructions, specifically the ABA routing number and account number, by calling the party who sent the instructions to you. DO NOT use the phone number provided in the email containing the instructions, use phone numbers you have called before or can otherwise verify. Obtain the phone number of relevant parties to the transaction as soon as an escrow account is opened. DO NOT send an email to verify as the email address may be incorrect or the email may be intercepted by the fraudster. USE COMPLEX EMAIL PASSWORDS that employ a combination of mixed case, numbers, and symbols. Make your passwords greater than eight (8) characters. Also, change your password often and do NOT reuse the same password for other online accounts. USE MULTI-FACTOR AUTHENTICATION for email accounts. Your email provider or IT staff may have specific instructions on how to implement this feature. For more information on wire‐fraud scams or to report an incident, please refer to the following links: Federal Bureau of Investigation:Internet Crime Complaint Center: http://www.fbi.gov http://www.ic3.gov Fidelity National Title Company 555 S. Flower Street, Suite 4420, Los Angeles, CA 90071 Phone: (213) 452-7100 Fax: Notice of Available Discounts (Rev. 01-15-20)Last Saved: September 21, 2023 by 717 MISC0164 (DSI Rev. 03/12/20)Escrow No.: 30107235-995-MAL-2AA Notice of Available Discounts Pursuant to Section 2355.3 in Title 10 of the California Code of Regulations Fidelity National Financial, Inc. and its subsidiaries ("FNF") must deliver a notice of each discount available under our current rate filing along with the delivery of escrow instructions, a preliminary report or commitment. Please be aware that the provision of this notice does not constitute a waiver of the consumer's right to be charged the filed rate. As such, your transaction may not qualify for the below discounts. You are encouraged to discuss the applicability of one or more of the below discounts with a Company representative. These discounts are generally described below; consult the rate manual for a full description of the terms, conditions and requirements for such discount. These discounts only apply to transactions involving services rendered by the FNF Family of Companies. This notice only applies to transactions involving property improved with a one-to-four family residential dwelling. Not all discounts are offered by every FNF Company. The discount will only be applicable to the FNF Company as indicated by the named discount. FNF Underwritten Title Company Underwritten by FNF Underwriters CTC – Chicago Title company CTIC – Chicago Title Insurance Company CLTC – Commonwealth Land Title Company CLTIC - Commonwealth Land Title Insurance Company FNTC – Fidelity National Title Company of California FNTIC – Fidelity National Title Insurance Company FNTCCA - Fidelity National Title Company of California FNTIC - Fidelity National Title Insurance Company TICOR – Ticor Title Company of California CTIC – Chicago Title Insurance Company LTC – Lawyer’s Title Company CLTIC – Commonwealth Land Title Insurance Company SLTC – ServiceLink Title Company CTIC – Chicago Title Insurance Company Available Discounts DISASTER LOANS (CTIC, CLTIC, FNTIC) The charge for a Lender's Policy (Standard or Extended coverage) covering the financing or refinancing by an owner of record, within twenty-four (24) months of the date of a declaration of a disaster area by the government of the United States or the State of California on any land located in said area, which was partially or totally destroyed in the disaster, will be fifty percent (50%) of the appropriate title insurance rate. CHURCHES OR CHARITABLE NON-PROFIT ORGANIZATIONS (CTIC, FNTIC) On properties used as a church or for charitable purposes within the scope of the normal activities of such entities, provided said charge is normally the church's obligation the charge for an owner's policy shall be fifty percent (50%) to seventy percent (70%) of the appropriate title insurance rate, depending on the type of coverage selected. The charge for a lender's policy shall be forty (40%) to fifty percent (50%) of the appropriate title insurance rate, depending on the type of coverage selected. Attachment One – CA (Rev. 11-04-22)Last Saved: 9/21/2023 1:31 AM by 717 MISC0267 (DSI Rev. 3/16/23)Page 1 Order No. : 30107235-995-MAL-2AA ATTACHMENT ONE CALIFORNIA LAND TITLE ASSOCIATION STANDARD COVERAGE POLICY – 1990 (11-09-18) 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, 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 unless such lien is shown by the public records at Date of Policy. EXCEPTIONS FROM COVERAGE - SCHEDULE B, PART II (Variable exceptions such as taxes, easements, CC&R’s, etc., are inserted here) CALIFORNIA LAND TITLE ASSOCIATION STANDARD COVERAGE OWNER’S POLICY (02-04-22) EXCLUSIONS FROM COVERAGE The following matters are 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) that restricts, regulates, prohibits, or relates to: i.the occupancy, use, or enjoyment of the Land; ii.the character, dimensions, or location of any improvement on the Land; iii.the subdivision of land; or iv.environmental remediation or protection. b.any governmental forfeiture, police, regulatory, or national security power. c.the effect of a violation or enforcement of any matter excluded under Exclusion 1.a. or 1.b. Exclusion 1 does not modify or limit the coverage provided under Covered Risk 5 or 6. 2.Any power of eminent domain. Exclusion 2 does not modify or limit the coverage provided under Covered Risk 7. 3.Any defect, lien, encumbrance, adverse claim, or other matter: Attachment One – CA (Rev. 11-04-22)Last Saved: 9/21/2023 1:31 AM by 717 MISC0267 (DSI Rev. 3/16/23)Page 2 Order No. : 30107235-995-MAL-2AA a.created, suffered, assumed, or agreed to by the Insured Claimant; b.not Known to the Company, not recorded in the Public Records at the 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 the Date of Policy (Exclusion 3.d. does not modify or limit the coverage provided under Covered Risk 9 or 10); or e.resulting in loss or damage that would not have been sustained if consideration sufficient to qualify the Insured named in Schedule A as a bona fide purchaser had been given for the Title at the Date of Policy. 4.Any claim, by reason of the operation of federal bankruptcy, state insolvency, or similar creditors’ rights law, that the transaction vesting the Title as shown in Schedule A is a: a.fraudulent conveyance or fraudulent transfer; b.voidable transfer under the Uniform Voidable Transactions Act; or c.preferential transfer: i.to the extent the instrument of transfer vesting the Title as shown in Schedule A is not a transfer made as a contemporaneous exchange for new value; or ii.for any other reason not stated in Covered Risk 9.b. 5.Any claim of a PACA-PSA Trust. Exclusion 5 does not modify or limit the coverage provided under Covered Risk 8. 6.Any lien on the Title for real estate taxes or assessments imposed or collected by a governmental authority that becomes due and payable after the Date of Policy. Exclusion 6 does not modify or limit the coverage provided under Covered Risk 2.b. 7.Any discrepancy in the quantity of the area, square footage, or acreage of the Land or of any improvement to the Land. EXCEPTIONS FROM COVERAGE Some historical land records contain Discriminatory Covenants that are illegal and unenforceable by law. This policy treats 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 are excepted from coverage. This policy does not insure against loss or damage and the Company will not pay costs, attorneys’ fees, or expenses resulting from the terms and conditions of any lease or easement identified in Schedule A, and the following matters: PART I 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 at Date of Policy but that could be (a) ascertained by an inspection of the Land, or (b) asserted by persons or parties in possession of the Land. 3.Easements, liens or encumbrances, or claims thereof, not shown by the Public Records at Date of Policy. 4.Any encroachment, encumbrance, violation, variation, easement, 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 at Date of Policy. 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, material or equipment unless such lien is shown by the Public Records at Date of Policy. 7.Any claim to (a) ownership of or rights to minerals and similar substances, including but not limited to ores, metals, coal, lignite, oil, gas, uranium, clay, rock, sand, and gravel located in, on, or under the Land or produced from the Land, whether such ownership or rights arise by lease, grant, exception, conveyance, reservation, or otherwise; and (b) any rights, privileges, immunities, rights of way, and easements associated therewith or appurtenant thereto, whether or not the interests or rights excepted in (a) or (b) appear in the Public Records or are shown in Schedule B. PART II (Variable exceptions such as taxes, easements, CC&R’s, etc., are inserted here) CLTA/ALTA HOMEOWNER’S POLICY OF TITLE INSURANCE (07-01-2021) EXCLUSIONS FROM COVERAGE The following matters are excluded from the coverage of this policy and We 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) that restricts, regulates, prohibits, or relates to: i.the occupancy, use, or enjoyment of the Land; ii.the character, dimensions, or location of any improvement on the Land; iii.the subdivision of land; or iv.environmental remediation or protection. b.any governmental forfeiture, police, or regulatory, or national security power. c.the effect of a violation or enforcement of any matter excluded under Exclusion 1.a. or 1.b. Exclusion 1 does not modify or limit the coverage provided under Covered Risk 8.a., 14, 15, 16, 18, 19, 20, 23, or 27. 2.Any power to take the Land by condemnation. Exclusion 2 does not modify or limit the coverage provided under Covered Risk 17. 3.Any defect, lien, encumbrance, adverse claim, or other matter: a.created, suffered, assumed, or agreed to by You; b.not Known to Us, not recorded in the Public Records at the Date of Policy, but Known to You and not disclosed in writing to Us by You prior to the date You became an Insured under this policy; c.resulting in no loss or damage to You; Attachment One – CA (Rev. 11-04-22)Last Saved: 9/21/2023 1:31 AM by 717 MISC0267 (DSI Rev. 3/16/23)Page 3 Order No. : 30107235-995-MAL-2AA d.attaching or created subsequent to the Date of Policy (Exclusion 3.d. does not modify or limit the coverage provided under Covered Risk 5, 8.f., 25, 26, 27, 28, or 32); or e.resulting in loss or damage that would not have been sustained if You paid consideration sufficient to qualify You as a bona fide purchaser of the Title at the Date of Policy. 4.Lack of a right: a.to any land outside the area specifically described and referred to in Item 3 of Schedule A; and b.in any street, road, avenue, alley, lane, right-of-way, body of water, or waterway that abut the Land. Exclusion 4 does not modify or limit the coverage provided under Covered Risk 11 or 21. 5.The failure of Your existing structures, or any portion of Your existing structures, to have been constructed before, on, or after the Date of Policy in accordance with applicable building codes. Exclusion 5 does not modify or limit the coverage provided under Covered Risk 14 or 15. 6.Any claim, by reason of the operation of federal bankruptcy, state insolvency, or similar creditors’ rights law, that the transfer of the Title to You is a: a.fraudulent conveyance or fraudulent transfer; b.voidable transfer under the Uniform Voidable Transactions Act; or c.preferential transfer: i.to the extent the instrument of transfer vesting the Title as shown in Schedule A is not a transfer made as a contemporaneous exchange for new value; or ii.for any other reason not stated in Covered Risk 30. 7.Contamination, explosion, fire, flooding, vibration, fracturing, earthquake, or subsidence. 8.Negligence by a person or an entity exercising a right to extract or develop oil, gas, minerals, groundwater, or any other subsurface substance. 9.Any lien on Your Title for real estate taxes or assessments imposed or collected by a governmental authority that becomes due and payable after the Date of Policy. Exclusion 9 does not modify or limit the coverage provided under Covered Risk 8.a. or 27. 10.Any discrepancy in the quantity of the area, square footage, or acreage of the Land or of any improvement to the Land. 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 DollarLimit of Liability Covered Risk 16:1.00% of Policy Amount Shown in Schedule A or $2,500.00 (whichever is less) $10,000.00 Covered Risk 18:1.00% of Policy Amount Shown in Schedule A or $5,000.00 (whichever is less) $25,000.00 Covered Risk 19:1.00% of Policy Amount Shown in Schedule A or $5,000.00 (whichever is less) $25,000.00 Covered Risk 21:1.00% of Policy Amount Shown in Schedule A or $2,500.00 (whichever is less) $5,000.00 CLTA/ALTA HOMEOWNER'S POLICY OF TITLE INSURANCE (12-02-13) 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 are 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. 8.Contamination, explosion, fire, flooding, vibration, fracturing, earthquake, or subsidence. 9.Negligence by a person or an Entity exercising a right to extract or develop minerals, water, or any other substances. 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: Our Maximum Dollar Attachment One – CA (Rev. 11-04-22)Last Saved: 9/21/2023 1:31 AM by 717 MISC0267 (DSI Rev. 3/16/23)Page 4 Order No. : 30107235-995-MAL-2AA Your Deductible Amount Limit of Liability Covered Risk 16:1.00% of Policy Amount Shown in Schedule A or $2,500.00 (whichever is less) $10,000.00 Covered Risk 18:1.00% of Policy Amount Shown in Schedule A or $5,000.00 (whichever is less) $25,000.00 Covered Risk 19:1.00% of Policy Amount Shown in Schedule A or $5,000.00 (whichever is less) $25,000.00 Covered Risk 21:1.00% of Policy Amount Shown in Schedule A or $2,500.00 (whichever is less) $5,000.00 ALTA OWNER’S POLICY (07-01-2021) EXCLUSIONS FROM COVERAGE The following matters are 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) that restricts, regulates, prohibits, or relates to: i.the occupancy, use, or enjoyment of the Land; ii.the character, dimensions, or location of any improvement on the Land; iii.the subdivision of land; or iv.environmental remediation or protection. b.any governmental forfeiture, police, regulatory, or national security power. c.the effect of a violation or enforcement of any matter excluded under Exclusion 1.a. or 1.b. Exclusion 1 does not modify or limit the coverage provided under Covered Risk 5 or 6. 2.Any power of eminent domain. Exclusion 2 does not modify or limit the coverage provided under Covered Risk 7. 3.Any defect, lien, encumbrance, adverse claim, or other matter: a.created, suffered, assumed, or agreed to by the Insured Claimant; b.not Known to the Company, not recorded in the Public Records at the 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 the Date of Policy (Exclusion 3.d. does not modify or limit the coverage provided under Covered Risk 9 or 10); or e.resulting in loss or damage that would not have been sustained if consideration sufficient to qualify the Insured named in Schedule A as a bona fide purchaser had been given for the Title at the Date of Policy. 4.Any claim, by reason of the operation of federal bankruptcy, state insolvency, or similar creditors’ rights law, that the transaction vesting the Title as shown in Schedule A is a: a.fraudulent conveyance or fraudulent transfer; b.voidable transfer under the Uniform Voidable Transactions Act; or c.preferential transfer: i.to the extent the instrument of transfer vesting the Title as shown in Schedule A is not a transfer made as a contemporaneous exchange for new value; or ii.for any other reason not stated in Covered Risk 9.b. 5.Any claim of a PACA-PSA Trust. Exclusion 5 does not modify or limit the coverage provided under Covered Risk 8. 6.Any lien on the Title for real estate taxes or assessments imposed or collected by a governmental authority that becomes due and payable after the Date of Policy. Exclusion 6 does not modify or limit the coverage provided under Covered Risk 2.b. 7.Any discrepancy in the quantity of the area, square footage, or acreage of the Land or of any improvement to the Land. EXCEPTIONS FROM COVERAGE Some historical land records contain Discriminatory Covenants that are illegal and unenforceable by law. This policy treats 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 are excepted from coverage. This policy does not insure against loss or damage and the Company will not pay costs, attorneys’ fees, or expenses resulting from the terms and conditions of any lease or easement identified in Schedule A, and the following matters: NOTE: The 2021 ALTA Owner’s Policy may be issued to afford either Standard Coverage or Extended Coverage. In addition to variable exceptions such as taxes, easements, CC&R’s, etc., the Exceptions from Coverage in a Standard Coverage policy will also include the Western Regional Standard Coverage Exceptions listed as 1 through 7 below: 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 at Date of Policy but that could be (a) ascertained by an inspection of the Land or (b) asserted by persons or parties in possession of the Land. 3.Easements, liens or encumbrances, or claims thereof, not shown by the Public Records at Date of Policy. 4.Any encroachment, encumbrance, violation, variation, easement, 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 at Date of Policy. 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, material or equipment unless such lien is shown by the Public Records at Date of Policy. 7.Any claim to (a) ownership of or rights to minerals and similar substances, including but not limited to ores, metals, coal, lignite, oil, gas, uranium, clay, rock, sand, and gravel located in, on, or under the Land or produced from the Land, whether such ownership or rights arise by lease, grant, exception, conveyance, reservation, or otherwise; and (b) any rights, privileges, immunities, rights of way, and easements associated therewith or appurtenant thereto, whether or not the interests or rights excepted in (a) or (b) appear in the Public Records or are shown in Schedule B Attachment One – CA (Rev. 11-04-22)Last Saved: 9/21/2023 1:31 AM by 717 MISC0267 (DSI Rev. 3/16/23)Page 5 Order No. : 30107235-995-MAL-2AA 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 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. 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: NOTE: The 2006 ALTA Owner’s Policy may be issued to afford either Standard Coverage or Extended Coverage. In addition to variable exceptions such as taxes, easements, CC&R’s, etc., the Exceptions from Coverage in a Standard Coverage policy will also include the Western Regional Standard Coverage Exceptions listed below as 1 through 7 below: 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 at Date of Policy but that could be (a) ascertained by an inspection of the Land, or (b) asserted by persons or parties in possession of the Land. 3.Easements, liens or encumbrances, or claims thereof, not shown by the Public Records at Date of Policy. 4.Any encroachment, encumbrance, violation, variation, easement, 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 at Date of Policy. 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, material or equipment unless such lien is shown by the Public Records at Date of Policy. 7.Any claim to (a) ownership of or rights to minerals and similar substances, including but not limited to ores, metals, coal, lignite, oil, gas, uranium, clay, rock, sand, and gravel located in, on, or under the Land or produced from the Land, whether such ownership or rights arise by lease, grant, exception, conveyance, reservation, or otherwise; and (b) any rights, privileges, immunities, rights of way, and easements associated therewith or appurtenant thereto, whether or not the interests or rights excepted in (a) or (b) appear in the Public Records or are shown in Schedule B. Owner’s Declaration Printed: 6/28/2017 2:56 AM by 717 MISC0220 (DSI Rev. 10/17/17)Page 2 Escrow No. : 30107235-995-MAL OWNER'S DECLARATION Escrow No.:30107235-995-MAL-2AA Property Address:2521 Eastbluff Drive Newport Beach, CA 92660 The undersigned hereby declares as follows: 1.(Fill in the applicable paragraph and strike the other) a.Declarant ("Owner") is the owner or lessee, as the case may be, of certain premises located at 2521 Eastbluff Drive, Newport Beach, CA 92660, further described as follows: See Preliminary Report/Commitment No. for full legal description (the "Land"). b.Declarant is the ______________________________ of ____________________________________ ("Owner"), which is the owner or lessee, as the case may be, of certain premises located at 2521 Eastbluff Drive, Newport Beach, CA 92660, further described as follows: See Preliminary Report/Commitment No. for full legal description (the "Land"). 2.(Fill in the applicable paragraph and strike the other) a.During the period of six months immediately preceding the date of this declaration no work has been done, no surveys or architectural or engineering plans have been prepared, and no materials have been furnished in connection with the erection, equipment, repair, protection or removal of any building or other structure on the Land or in connection with the improvement of the Land in any manner whatsoever. b.During the period of six months immediately preceding the date of this declaration certain work has been done and materials furnished in connection with _________________________ upon the Land in the approximate total sum of $__________, but no work whatever remains to be done and no materials remain to be furnished to complete the construction in full compliance with the plans and specifications, nor are there any unpaid bills incurred for labor and materials used in making such improvements or repairs upon the Land, or for the services of architects, surveyors or engineers, except as follows: ___________________________________________. Owner, by the undersigned Declarant, agrees to and does hereby indemnify and hold harmless Fidelity National Title Company against any and all claims arising therefrom. 3.Owner has not previously conveyed the Land; is not a debtor in bankruptcy (and if a partnership, the general partner thereof is not a debtor in bankruptcy); and has not received notice of any pending court action affecting the title to the Land. 4.Except as shown in the above-referenced Preliminary Report/Commitment, there are no unpaid or unsatisfied mortgages, deeds of trust, Uniform Commercial Code financing statements, regular assessments, special assessments, periodic assessments or any assessment from any source, claims of lien, special assessments, or taxes that constitute a lien against the Land or that affect the Land but have not been recorded in the public records. There are no violations of the covenants, conditions and restrictions as shown in the above-referenced Preliminary Report/Commitment. 5.The Land is currently in use as _____________________; _______________________ occupy/occupies the Land; and the following are all of the leases or other occupancy rights affecting the Land: ___________________________________________________________________________________ 6.There are no other persons or entities that assert an ownership interest in the Land, nor are there unrecorded easements, claims of easement, or boundary disputes that affect the Land. 7.There are no outstanding options to purchase or rights of first refusal affecting the Land. 8.Between the most recent Effective Date of the above-referenced Preliminary Report/Commitment and the date of recording of the Insured Instrument(s), Owner has not taken or allowed, and will not take or allow, any action or inaction to encumber or otherwise affect title to the Land. This declaration is made with the intention that Fidelity National Title Company (the "Company") and its policy issuing agents will rely upon it in issuing their title insurance policies and endorsements. Owner, by the undersigned Declarant, agrees to indemnify the Company against loss or damage (including attorneys fees, expenses, and costs) incurred by the Company as a result of any untrue statement made herein. I declare under penalty of perjury that the foregoing is true and correct and that this declaration was executed on ______ at _________________________________. Signature:________________________________