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HomeMy WebLinkAboutL_Title Report_191108_v1OLD REPUBLIC NATIONAL TITLE INSURANCE COMPANY 1111 3rd Avenue, Suite 820 Seattle, WA 98101 (206) 441-1955 Fax: (206) 441-1953 **SECOND** Attached Commitment Issued for the sole use of: VALERE REAL ESTATE 216 1st Avenue S Suite 333 Seattle, WA 98104 Attention: VANN LANZ Our Order Number 5226007479-CB Customer Reference APEX DEVELOPMENT LLC/LOTTERER When Replying Please Contact: Cidney Bryan Escrow Officer CBryan@ortc.com (206) 441-1955 Property Address: 363 Stevens Avenue Northwest, Renton, WA 98057 See Attached Commitment to Insure Page 1 of 16 Pages ORTIC 1613 (2006) OLD REPUBLIC NATIONAL TITLE INSURANCE COMPANY ALTA Commitment COMMITMENT FOR TITLE INSURANCE Issued by Old Republic National Title Insurance Company OLD REPUBLIC NATIONAL TITLE INSURANCE COMPANY, a Florida corporation (“Company”), for a valuable consideration, commits to issue its policy or policies of title insurance, as identified in Schedule A, in favor of the Proposed Insured named in Schedule A, as owner or mortgagee of the estate or interest in the land described or referred to in Schedule A, upon payment of the premiums and charges and compliance with the Requirements; all subject to the provisions of Schedules A and B and to the Conditions of this Commitment. This Commitment shall be effective only when the identity of the Proposed Insured and the amount of the policy or policies committed for have been inserted in Schedule A by the Company. All liability and obligation under this Commitment shall cease and terminate six (6)months after the Effective Date or when the policy or policies committed for shall issue, whichever first occurs, provided that the failure to issue the policy or policies is not the fault of the Company. The Company will provide a sample of the policy form upon request. Issued through the office of: Old Republic Title, Ltd. 19020 33rd Avenue W., Suite 360 Lynnwood, WA 98036 OLD REPUBLIC NATIONAL TITLE INSURANCE COMPANY A Corporation400 Second Avenue South, Minneapolis, Minnesota 55401 (612) 371-1111 Authorized Officer or Agent Order Number: 5226007479-CB Page 2 of 16 Pages ORTIC 1614 OLD REPUBLIC NATIONAL TITLE INSURANCE COMPANY ALTA Commitment SCHEDULE A Customer Reference:APEX DEVELOPMENT LLC/LOTTERER 1. Effective Date:August 23,2019,at 8:00 AM **SECOND** 2. Policy or Policies to be issued: ALTA Owner's Policy -2006 Amount: $100,000.00 Premium: $744.00 Tax: $78.12 Rate: Short Term Note: Standard Coverage Proposed Insured: JAMES LOTTERER and LYNNETTE LOTTERER, a married couple ALTA Loan Policy -2006 Amount: Amount to come. Rate: Lender's Insurance Note: Extended Coverage Proposed Insured: To be determined The printed Exceptions and Exclusions from the coverage and Limitations on Covered Risks of said Policy or Policies are set forth in Exhibit I attached. Copies of the Policy forms should be read. They are available from the office which issued this Commitment. 3. The estate or interest in the land described or referred to in this Commitment is Fee Simple as to the Land, and Easement rights only as described in Schedule A. 4. Title to the estate or interest in the land is at the Effective Date vested in: APEX DEVELOPMENT, LLC, a Washington limited liability company, as to Parcels A and B, and JAMES F. LOTTERER and LYNNETTE R. LOTTERER, husband and wife, as to Parcel C 5. The land referred to in this Commitment is described as follows: Order Number: 5226007479-CB Page 3 of 16 Pages ORTIC 1614 OLD REPUBLIC NATIONAL TITLE INSURANCE COMPANY See Legal Description Exhibit. This Commitment is not valid without SCHEDULE A and SCHEDULE B. Order Number: 5226007479-CB Page 4 of 16 Pages ORTIC 1616 OLD REPUBLIC NATIONAL TITLE INSURANCE COMPANY SCHEDULE B Customer Reference:APEX DEVELOPMENT LLC/LOTTERER I. REQUIREMENTS: 1.Pay us the premiums, fees and charges for the policy. 2.Documents satisfactory to us creating the interest in the land and/or the mortgage to be insured must be signed, delivered, and recorded. 3.You must tell us in writing the name of anyone not referred to in this Commitment who will get an interest in the land or who will make a loan on the land. We may then make additional requirements or exceptions. 4.Release(s) or Reconveyance(s) of appropriate items. 5.If any document in the completion of this transaction is to be executed by an attorney-in- fact, the completed Power of Attorney form should be submitted for review prior to closing. Order Number: 5226007479-CB Page 5 of 16 Pages ORTIC 1618 OLD REPUBLIC NATIONAL TITLE INSURANCE COMPANY SCHEDULE B continued Customer Reference:APEX DEVELOPMENT LLC/LOTTERER II. Schedule B of the policy or policies to be issued will contain exceptions to the following matters unless the same are disposed of to the satisfaction of the Company: Defects, liens, encumbrances, adverse claims or other matters, if any, created, first appearing in the public records or attaching subsequent to the Effective Date hereof but prior to the date the proposed Insured acquires for value of record the estate or interest or mortgage thereon covered by this Commitment. 1.Encroachments, or questions of location, boundary and/or area which an accurate survey may disclose. 2.Easements or claims of easements not disclosed by the public records. 3.Rights or claims of parties in possession not disclosed by the public records. 4.Any lien or right to lien for services, material, labor, and/or contributions to an employee benefit fund or State Workers’ Compensation that is not disclosed by the public records. 5.Exceptions and reservations in United States patents, Indian tribal codes or regulations, Indian treaty or aboriginal rights, including easements and equitable servitudes. Water rights, claims or title to water. 6.Any service, installation or general connection charges for sewer, water, electricity, telephone, gas and/or garbage removal. 7.General taxes not now payable; special assessments and/or special levies, if any, that are not disclosed by the public records. Order Number: 5226007479-CB Page 6 of 16 Pages ORTIC 1618 OLD REPUBLIC NATIONAL TITLE INSURANCE COMPANY THE FOLLOWING MATTERS AFFECT PARCEL A: 8.Terms and provisions as contained in an instrument, Entitled :Right of Way Deed Recorded :December 28, 1895 in Official Records under Recording Number 144898 9.Agreement for :Easement Agreement Executed By :Washington Federal Savings, a United States corporation and Between :Vann Lanz On the terms, covenants and conditions contained therein, Recorded :August 22, 2012 in Official Records under Recording Number 20120822000310 To clarify and resolve certain disputes relating to the easements created under King County Recording Nos. 4389429, 5959420 and 5959421. THE FOLLOWING MATTERS AFFECT PARCEL B: 10.Agreement for :Joint Road Maintenance Executed By :Present and future owners On the terms, covenants and conditions contained therein, Recorded :August 24, 1979 in Official Records under Recording Number 7908240642 Covenant to bear equal share of the cost of the construction, maintenance or repair of the improvement 11.An easement affecting that portion of said land and for the purposes stated herein and incidental purposes as provided in the following Granted To :City of Renton, a municipal corporation For :Public utilities (including water, wastewater, and surface water) with necessary appurtenances Recorded :March 22, 1999 in Official Records under Recording Number 9903222553 Affects :Portion of said Premises Order Number: 5226007479-CB Page 7 of 16 Pages ORTIC 1618 OLD REPUBLIC NATIONAL TITLE INSURANCE COMPANY 12.Agreement for :Easement Agreement Executed By :Washington Federal, a National Association, f/k/a Washington Federal Savings and Between :Todd A. Shirley On the terms, covenants and conditions contained therein, Recorded :November 7, 2014 in Official Records under Recording Number 20141107000882 To clarify and resolve certain disputes relating to the easements created under King County Recording Nos. 4389429, 5959420 and 5959421. THE FOLLOWING MATTERS AFFECT PARCEL C: 13.Covenants, Conditions and Restrictions, 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 Title 42, Section 3607 of the United States Code or (b) relates to handicap but does not discriminate against handicapped persons, as provided in an instrument. Recorded :in Official Records under Recording Number 4997941 14.Covenants, conditions, restrictions, easements, provisions dedications and matters delineated or disclosed by the plat of Wallin -Edwards 1st Add. to Renton; Refer to the plat for full particulars. Said Plat recorded in Official Records under Recording Number 401955. 15.An easement affecting that portion of said land and for the purposes stated herein and incidental purposes as provided in the following For :Road purposes, utilities and walkway Recorded :August 15, 1955 in Official Records under Recording Number 4605425 Affects :Westerly 20 feet and Southerly 5 feet as more fully described in said Document Order Number: 5226007479-CB Page 8 of 16 Pages ORTIC 1618 OLD REPUBLIC NATIONAL TITLE INSURANCE COMPANY 16.An easement affecting that portion of said land and for the purposes stated herein and incidental purposes as provided in the following For :Roadway Dated :October 16, 1955 Recorded :April 24, 1959 in Official Records under Recording Number 5023838 Affects :West 20 feet 17.An easement affecting that portion of said land and for the purposes stated herein and incidental purposes as provided in the following Granted To :Puget Sound Power and Light Company For :Transmission, distribution and sale of gas Recorded :November 25, 2015 in Official Records under Recording Number 20151125000650 Affects :The West 20 feet of the South 20 feet 18.Terms and provisions as contained in an instrument, Entitled :Record of Survey Recorded :July 7, 2016 in Official Records under Recording Number 20160707900001 Which, among other things, provides: Discloses easements and a shed in the Westerly easement area 19.Lien of Real Estate Excise Sale Tax upon any sale of said premises, as established by the Washington State Department of Revenue. NOTE: As of the date of this commitment, the current Excise Tax Rate is: 1.78%. Confirm the current rate by contacting the following prior to closing: Name of Agency King County Records and Election Division, Excise Tax Department at Telephone Number (206) 477-6620 Order Number: 5226007479-CB Page 9 of 16 Pages ORTIC 1618 OLD REPUBLIC NATIONAL TITLE INSURANCE COMPANY 20.GENERAL TAXES, PLUS INTEREST AND PENALTY AFTER DELINQUENT; 1ST HALF DELINQUENT ON MAY 1; 2ND HALF DELINQUENT ON NOVEMBER 1: Year :2019 Amount Billed :$1,672.31 Amount Paid :$836.16 Tax Account No.:182305-9005-04 Levy Code :2100 Assessed Valuation Land :$155,000.00 Improvements :$0.00 Said matters affect Parcel A 21.GENERAL TAXES, PLUS INTEREST AND PENALTY AFTER DELINQUENT; 1ST HALF DELINQUENT ON MAY 1; 2ND HALF DELINQUENT ON NOVEMBER 1: Year :2019 Amount Billed :$2,036.33 Amount Paid :$1,018.17 Tax Account No.:182305-9078-06 Levy Code :2100 Assessed Valuation Land :$189,000.00 Improvements :$0.00 Said matters affect Parcel B Order Number: 5226007479-CB Page 10 of 16 Pages ORTIC 1618 OLD REPUBLIC NATIONAL TITLE INSURANCE COMPANY 22.GENERAL TAXES, PLUS INTEREST AND PENALTY AFTER DELINQUENT; 1ST HALF DELINQUENT ON MAY 1; 2ND HALF DELINQUENT ON NOVEMBER 1: Year :2019 Amount Billed :$6,521.90 Amount Paid :$3,260.95 Tax Account No.:913360-0040-00 Levy Code :2100 Assessed Valuation Land :$271,000.00 Improvements :$302,000.00 Said matters affect Parcel C 23.LIABILITY FOR SUPPLEMENTAL ASSESSMENT FOR GENERAL TAXES ON IMPROVEMENTS. It appears improvements subject to assessments are located on the premises, but there is no assessment therefore. Tax Account No.:182305-9005-04 and 182305-9078-06 Levy Code No.:2100 Said matters affect Parcels A and B 24.Deed of Trust to secure an indebtedness of the amount stated below and any other amounts payable under the terms thereof, Amount :$251,000.00 Trustor/Borrower :James F. Lotterer and Lynnette R. Lotterer, husband and wife Trustee :George C. Reinmiller Trustee Inc. Beneficiary/Lender :Mortgage Electronic Registration Systems, Inc., solely as nominee for the benefit of Boeing Employees' Credit Union Dated :March 11, 2019 Recorded :March 18, 2016 in Official Records under Recording Number 20160318000098 Loan No.:247331 “MIN”:1006045-0073689564-7 Said matters affect Parcel C Order Number: 5226007479-CB Page 11 of 16 Pages ORTIC 1618 OLD REPUBLIC NATIONAL TITLE INSURANCE COMPANY 25.Deed of Trust to secure an indebtedness of the amount stated below and any other amounts payable under the terms thereof, Amount :$700,000.00 Trustor/Borrower :Apex Development, LLC Trustee :Trustee Services, Inc. Beneficiary/Lender :Construction Loan Services, LLC Dated :July 30, 2018 Recorded :August 3, 2018 in Official Records under Recording Number 20180803001158 Loan No.:71125 Said matters affect Parcel B The record beneficial interest under said Deed of Trust as a result of the last recorded assignment thereof is, Vested In :1Sharpe Opportunity Intermediate Trust by instrument Recorded :January 16, 2019 in Official Records under Recording Number 20190116001136 26.Deed of Trust to secure an indebtedness of the amount stated below and any other amounts payable under the terms thereof, Amount :$700,000.00 Trustor/Borrower :Apex Development, LLC Trustee :Trustee Services, Inc. Beneficiary/Lender :Construction Loan Services, LLC Dated :July 30, 2018 Recorded :August 3, 2018 in Official Records under Recording Number 20180803001195 Loan No.:71124 Said matters affect Parcel A The record beneficial interest under said Deed of Trust as a result of the last recorded assignment thereof is, Vested In :1Sharpe Opportunity Intermediate Trust by instrument Recorded :April 16, 2019 in Official Records under Recording Number 20190416001468 Order Number: 5226007479-CB Page 12 of 16 Pages ORTIC 1618 OLD REPUBLIC NATIONAL TITLE INSURANCE COMPANY 27.Deed of Trust to secure an indebtedness of the amount stated below and any other amounts payable under the terms thereof, Amount :$28,000.00 Trustor/Borrower :Apex Development, LLC limited liability company Trustee :First American Title Company Beneficiary/Lender :Steven A. Bush Dated :August 2, 2018 Recorded :August 6, 2018 in Official Records under Recording Number 20180806000018 Said matters affect Parcel A 28.Claim of Lien for labor materials and/or services furnished as follows: By :Leading Edge Construction Amount :$4,661.74 For :Professional services At request of or contract with :Apex Development, LLC Recorded :September 25, 2018 in Official Records under Recording Number 20180925001298 Said matters affect Parcel A 29.Claim of Lien for labor materials and/or services furnished as follows: By :Leading Edge Construction Amount :$4,661.74 For :Professional services At request of or contract with :Apex Development, LLC Recorded :September 25, 2018 in Official Records under Recording Number 20180925001315 Said matters affect Parcel B Order Number: 5226007479-CB Page 13 of 16 Pages ORTIC 1618 OLD REPUBLIC NATIONAL TITLE INSURANCE COMPANY 30.Claim of Lien for labor materials and/or services furnished as follows: By :Merit Engineering, Inc. Amount :$12,525.00 For :Professional services At request of or contract with :Apex Development, LLC and Leading Edge Construction, Inc. Recorded :October 5, 2018 in Official Records under Recording Number 20181005000797 Said matters affect Parcels A and B 31.Action as follows: Plaintiff :Merit Engineering Inc. Defendant :Leading Edge Const Inc., Apex Development, 1Sharpe Opportunity Intermediate Trust Court :King County Superior Court Case No.:19-2-14939-6 Commenced :June 5, 2019 Purpose :Commercial Notice of Which Recorded :August 5, 2019 in Official Records under Recording Number 20190805001077 Attorney :Jeffrey D. Sawyer Said matters affect Parcels A and B 32.The following requirements must be satisfied with respect to Apex Development LLC, a Washington Limited Liability Company: 1. A Copy of the Limited Liability Agreement and any amendments thereto must be submitted for our review. 2. Proof that the Certificate of Formation has been filed with the Washington State Secretary of State’s Office in accordance with statute and that the LLC is in good standing. 3. All members must sign any conveyance or mortgage document unless the Agreement gives specific authority to one or more members to sign. 33.If the property described in Schedule A is occupied by a marital community or registered domestic partnership as a homestead under Washington law, any conveyance or encumbrance must be executed by both spouses/domestic partners pursuant to RCW 6.13.060. Order Number: 5226007479-CB Page 14 of 16 Pages ORTIC 1618 OLD REPUBLIC NATIONAL TITLE INSURANCE COMPANY 34.It is our understanding that a proposed boundary and/or Lot line adjustment and/or Short Plat will be submitted prior to the closing of the proposed conveyance. In connection therewith, the Company reserves further opinion in said matter and excludes coverage from any violation of County or City Ordinances relating to the subdivision of land and other relating matters thereto and the legal description will be amended accordingly. 35.The requirement that this Company be provided with an opportunity to inspect the land (the Company reserves the right to make additional exceptions and/or requirements upon completion of its inspection). --------------------Informational Notes ------------------- A.NOTICE: FinCEN COMPLIANCE Closing the residential purchase and/or issuing title insurance contemplated by this ALTA Commitment report may be subject to compliance with the recently issued Confidential Geographic Targeting Order (GTO) from the US Treasury's Financial Crimes Enforcement Network (FinCEN). The GTO requires Old Republic National Title Insurance Company to report information about certain transactions involving residential property. FinCEN has the authority to compel this reporting under the USA PATRIOT Act. FinCEN prohibits Old Republic from disclosing the specific terms of the GTO. You may wish to contact the FinCEN Resource Center directly at (800) 767-2825 for more information. The failure and/or refusal of a party to provide information for a "covered transaction" will preclude Old Republic from closing the transaction and/or issuing title insurance. B.Terms and provisions as contained in an instrument, Entitled :Record of Survey Recorded :June 13, 2006 in Official Records under Recording Number 20060613900007 Said matters affect Parcels A and B Order Number: 5226007479-CB Page 15 of 16 Pages ORTIC 1618 OLD REPUBLIC NATIONAL TITLE INSURANCE COMPANY C.NOTE: According to the public records, there have been no deeds conveying the property described in this report recorded within a period of 36 months prior to the date hereof except as follows: NONE NOTE: The last recorded transfer or agreement to transfer the land described herein is as follows: Recorded :July 23, 2013 in Official Records under Recording Number 20130723002260 Said matters affect Parcel C And recorded April 1, 2016 in Official Records under Recording Number 20160401000116. Said matters affect Parcel A And recorded April 1, 2016 in Official Records under Recording Number 20160401000118. Said matters affect Parcel B D.Short Term Rate (“STR”) applies (but may be precluded or limited by application of the above shown section(s) of our Schedule of Fees and Charges.) E.NOTE: This report covers land which was identified by street address and/or tax parcel number(s) –assessor’s parcel number(s) when the order was opened. F.If you would like the Company to act as Trustee in a proposed Deed of Trust, please note that Old Republic Title, Ltd. may act as Trustee of a Deed of Trust under RCW 61.24.010(1) Order Number: 5226007479-CB Page 16 of 16 Pages ORTIC 1618 OLD REPUBLIC NATIONAL TITLE INSURANCE COMPANY G.All documents must meet the margin and legibility requirements as set forth by the Washington State Legislature under RCW 38-18-010 and RCW 65-04-015. If your documents fail to meet these requirements the County may reject them for recording, which could delay your closing. Documents for King, Snohomish and Pierce Counties should be delivered to our Lynnwood office at 19020 33rd Ave W #360, Lynnwood WA 98036. LAST RELEASE TIMES: E-RECORDING:REGULAR RECORDING: King County: Non-Excise Only, 3:25 p.m.2:25 p.m. Pierce County: Both Excise and Non-Excise 3:25 p.m.n/a Snohomish County: Both Excise and Non-Excise 3:25 p.m. Monday through Thursday 2:25 p.m. 2:55 p.m. Friday 1:55 p.m. Transactions that include the payment of excise tax must include the excise tax check payable to Old Republic Title, Ltd. Please allow sufficient time for your documents to be reviewed and processed. Our last run to King County leaves at 1:40 p.m. Monday through Friday. H.Potential charges, for the King County Sewage Treatment Capacity Charge, as authorized under RCW 35.58 and King County Code 28.84.050. Said charges could apply for any property that connected to the King County Sewer Service Area on or after February 1, 1990. For further information please contact the King County Wastewater Treatment Division at: (206)-296-1450. I.NOTE : We find nothing pertinent against the incoming party that would alter the policy coverage(s) contemplated by this Commitment. cm/DH CONDITIONS 1.The term mortgage, when used herein, shall include deed of trust, trust deed, or other security instrument. 2.If the proposed Insured has or acquired actual knowledge of any defect, lien, encumbrance, adverse claim or other matter affecting the estate or interest or mortgage thereon covered by this Commitment other than those shown in Schedule B hereof, and shall fail to disclose such knowledge to the Company in writing, the Company shall be relieved from liability for any loss or damage resulting from any act of reliance hereon to the extent the Company is prejudiced by failure to so disclose such knowledge. If the proposed Insured shall disclose such knowledge to the Company, or if the Company otherwise acquires actual knowledge of any such defect, lien, encumbrance, adverse claim or other matter, the Company at its option may amend Schedule B of this Commitment accordingly, but such amendment shall not relieve the Company from liability previously incurred pursuant to paragraph 3 of these Conditions and Stipulations. 3.Liability of the Company under this Commitment shall be only to the named proposed Insured and such parties included under the definition of Insured in the form of policy or policies committed for and only for actual loss incurred in reliance hereon in undertaking in good faith (a) to comply with the requirements hereof, or (b) to eliminate exceptions shown in Schedule B, or (c) to acquire or create the estate or interest or mortgage thereon covered by this Commitment. In no event shall such liability exceed the amount stated in Schedule A for the policy or policies committed for and such liability is subject to the insuring provisions and Conditions and Stipulations and the Exclusions from Coverage of the form of policy or policies committed for in favor of the proposed Insured which are hereby incorporated by reference and are made a part of this Commitment except as expressly modified herein. 4.This Commitment is a contract to issue one or more title insurance policies and is not an abstract of title or a report of the condition of title. Any action or actions or rights of action that the proposed Insured may have or may bring against the Company arising out of the status of the title to the estate or interest or the status of the mortgage thereon covered by this Commitment must be based on and are subject to the provisions of this Commitment. 5.The policy to be issued contains an arbitration clause. All arbitrable matters when the Amount of Insurance is $2,000,000 or less shall be arbitrated at the option of either the Company or the Insured as the exclusive remedy of the parties. You may review a copy of the arbitration rules at http://www.alta.org. If a policy other than the 2006 ALTA Owner’s Policy of Title Insurance, 2006 ALTA Loan Policy of Title Insurance or 2006 ALTA Short Form Residential Loan Policy is ultimately issued, the arbitration provisions of the issued policy shall control. Page 1 of 1 ORDER NO. : 5226007479-CB LEGAL DESCRIPTION EXHIBIT The land referred to is situated in the County of King, City of Renton, State of Washington, and is described as follows: PARCEL A: The North 115 feet of the Northwest quarter of the Northwest quarter of Section 18, Township 23 North, Range 5 East, W.M., in King County, Washington; EXCEPT the West 593 feet; LESS roads. PARCEL B: The South 115 feet of the North 230 feet of the Northwest quarter of the Northwest quarter of Section 18, Township 23 North, Range 5 East, W.M., in King County, Washington; EXCEPT the West 588 feet thereof; TOGETHER WITH an easement, Recording No. 5242757, for road and utilities over the South 60 feet of the North 145 feet of said Subdivision; EXCEPT the West 30 feet thereof; AND EXCEPT that portion lying within the main tract, above. PARCEL C: Lot 8, WALLIN-EDWARDS 1ST ADDITION TO RENTON, according to the plat thereof recorded in Volume 54 of Plats, page 68, records of King County, Washington; TOGETHER WITH an easement for ingress and egress over and across the Westerly 20 feet of Lots 5, 6 and 7 of WALLIN-EDWARDS 1ST ADDITION TO RENTON, according to the plat thereof recorded in Volume 54 of Plats, page 68, records of King County, Washington. ALL SITUATE in the County of King, State of Washington ABBREVIATED LEGAL Portion of the Northwest quarter of the Northwest quarter of Section 18, Township 23 North, Range 5 East, W.M., and Lot 8, WALLIN-EDWARDS 1ST ADDITION TO RENTON Tax Account Nos. 182305-9005-04, 182305-9078-06, and 913360-0040-00 Page 1 of 2 Exhibit I AMERICAN LAND TITLE ASSOCIATIONOWNER’S POLICY OF TITLE INSURANCE -2006 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 Data of Policy and the date of recording of the deed or other instrument of transfer in Public Records that vests Title as shown in Schedule A. Exhibit I AMERICAN LAND TITLE ASSOCIATION LOAN POLICY OF TITLE INSURANCE -2006EXCLUSIONS 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 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 where 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). rev.07/2016 FACTS WHAT DOES OLD REPUBLIC TITLE DO WITH YOUR PERSONAL INFORMATION? Why? Financial companies choose how they share your personal information. Federal law gives consumers the right to limit some but not all sharing. Federal law also requires us to tell you how we collect, share, and protect your personal information. Please read this notice carefully to understand what we do. What? The types of personal information we collect and share depend on the product or service you have with us.This information can include: •Social Security number and employment information •Mortgage rates and payments and account balances •Checking account information and wire transfer instructions When you are no longer our customer, we continue to share your information as described in this notice. How? All financial companies need to share customers’personal information to run their everyday business. In the section below, we list the reasons financial companies can share their customers’ personal information; the reasons Old Republic Title chooses to share; and whether you can limit this sharing. Reasons we can share your personal information Does Old Republic Title share? Can you limit this sharing? For our everyday business purposes —such as to process your transactions, maintain your account(s), or respond to court orders and legal investigations, or report to credit bureaus Yes No For our marketing purposes— to offer our products and services to you No We don’t share For joint marketing with other financial companies No We don’t share For our affiliates’everyday business purposes — information about your transactions and experiences Yes No For our affiliates’everyday business purposes — information about your creditworthiness No We don’t share For our affiliates to market to you No We don’t share For non-affiliates to market to you No We don’t share Questions Go to www.oldrepublictitle.com (Contact Us) Page 2 Who we are Who is providing this notice?Companies with an Old Republic Title name and other affiliates. Please see below for a list of affiliates. What we do How does Old Republic Title protect my personal information? To protect your personal information from unauthorized access and use, we use security measures that comply with federal law.These measures include computer safeguards and secured files and buildings. For more information, visit http://www.OldRepublicTitle.com/newnational/Contact/privacy. How does Old Republic Title collect my personal information? We collect your personal information, for example, when you: ·Give us your contact information or show your driver’s license ·Show your government-issued ID or provide your mortgage information ·Make a wire transfer We also collect your personal information from others, such as credit bureaus, affiliates, or other companies. Why can’t I limit all sharing?Federal law gives you the right to limit only: ·Sharing for affiliates’ everyday business purposes -information about your creditworthiness ·Affiliates from using your information to market to you ·Sharing for non-affiliates to market to you State laws and individual companies may give you additional rights to limit sharing. See the "Other important information" section below for your rights under state law. Definitions Affiliates Companies related by common ownership or control.They can be financial and nonfinancial companies. • Our affiliates include companies with an Old Republic Title name, and financial companies such as Attorneys’Title Fund Services, LLC, Lex Terrae National Title Services, Inc., Mississippi Valley Title Services Company, and The Title Company of North Carolina. Non-affiliates Companies not related by common ownership or control.They can be financial and non-financial companies. •Old Republic Title does not share with non-affiliates so they can market to you Joint marketing A formal agreement between non-affiliated financial companies that together market financial products or services to you. •Old Republic Title doesn’t jointly market. Page 3 Other Important Information Oregon residents only: We are providing you this notice under state law. We may share your personal information (described on page one) obtained from you or others with non-affiliate service providers with whom we contract, such as notaries and delivery services,in order to process your transactions. You may see what personal information we have collected about you in connection with your transaction (other than personal information related to a claim or legal proceeding). To see your information, please click on "Contact Us" at www.oldrepublictitle.com and submit your written request to the Legal Department.You may see and copy the information at our office or ask us to mail you a copy for a reasonable fee. If you think any information is wrong, you may submit a written request online to correct or delete it. We will let you know what actions we take. If you do not agree with our actions, you may send us a statement. Affiliates Who May be Delivering This Notice American First Abstract, LLC American First Title & Trust Company American Guaranty Title Insurance Company Attorneys' Title Fund Services, LLC Compass Abstract, Inc. eRecording Partners Network, LLC Genesis Abstract, LLC Kansas City Management Group, LLC L.T. Service Corp.Lenders Inspection Company Lex Terrae National Title Services, Inc. Lex Terrae, Ltd.Mara Escrow Company Mississippi Valley Title Services Company National Title Agent's Services Company Old Republic Branch Information Services, Inc. Old Republic Diversified Services, Inc. Old Republic Exchange Company Old Republic National Title Insurance Company Old Republic Title and Escrow of Hawaii, Ltd. Old Republic Title Co.Old Republic Title Company of Conroe Old Republic Title Company of Indiana Old Republic Title Company of Nevada Old Republic Title Company of Oklahoma Old Republic Title Company of Oregon Old Republic Title Company of St. Louis Old Republic Title Company of Tennessee Old Republic Title Information Concepts Old Republic Title Insurance Agency, Inc. Old Republic Title, Ltd.Republic Abstract & Settlement , LLC Sentry Abstract Company The Title Company of North Carolina Title Services, LLC Trident Land Transfer Company, LLC Page 1 of 1 ORDER NO. : 5226007479 EXHIBIT A The land referred to is situated in the County of King, City of Renton, State of Washington, and is described as follows: PARCEL A: The North 115 feet of the Northwest quarter of the Northwest quarter of Section 18,Township 23 North, Range 5 East, W.M., in King County, Washington; EXCEPT the West 593 feet; LESS roads. PARCEL B: The South 115 feet of the North 230 feet of the Northwest quarter of the Northwest quarter of Section 18, Township 23 North, Range 5 East, W.M., in King County, Washington; EXCEPT the West 588 feet thereof; TOGETHER WITH an easement, Recording No. 5242757, for road and utilities over the South 60 feet of the North 145 feet of said Subdivision; EXCEPT the West 30 feet thereof; AND EXCEPT that portion lying within the main tract, above. PARCEL C: Lot 8, WALLIN-EDWARDS 1ST ADDITION TO RENTON, according to the plat thereof recorded in Volume 54 of Plats, page 68, records of King County, Washington; TOGETHER WITH an easement for ingress and egress over and across the Westerly 20 feet of Lots 5, 6 and 7 of WALLIN-EDWARDS 1ST ADDITION TO RENTON, according to the plat thereof recorded in Volume 54 of Plats, page 68, records of King County, Washington. ALL SITUATE in the County of King, State of Washington ABBREVIATED LEGAL Portion of the Northwest quarter of the Northwest quarter of Section 18, Township 23 North, Range 5 East, W.M., and Lot 8, WALLIN-EDWARDS 1ST ADDITION TO RENTON Tax Account Nos. 182305-9005-04, 182305-9078-06, and 913360-0040-00