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LLA-Sherman Tuan and Yun Zheng-20698 & 20706 Kirwin Ln, APNs: 359-23-042 and 359-23-041RECORDING REQUESTED BY City of Cupertino WHEN RECORDED MAIL TO City of Cupertino 10300 Torre Avenue Cupertino, CA 95014 NO FEE IN ACCORDANCE WITH GOV. CODE 6103 DOCUMENT: 15901706 111111111111111111111111 Titles l / Pages: 29 Fees....* No Fees Taxes... Copies.. AMT PAID BRENDA DAVIS SANTA CLARA COUNTY RECORDER Recorded at the request of Fidelitv National Title Ins. �� 54 .• 44 (SPACE ABOVE THIS LINE FOR RECORDER'S USE) LOT LINE ADJUSTMENT, SHERMAN TUAN AND YUN ZHENG, HUSBAND AND WIFE AS COMMUNITY PROPERTY), APN 359-23-05 rOriginal o- For Fast Endorsement LOT LINE ADJUSTMENT Property Owners: Sherman Tuan and Yun Zheng, Husband and Wife as Community Property (Parcels 1 and 2), APN 359-23-05 ACTION BY THE CITY ENGINEER APPROVING A LOT LINE ADJUSTMENT BETWEEN TWO OR MORE ADJACENT PARCELS BE IT RESOLVED BY THE CITY ENGINEER OF THE CITY OF CUPERTINO: A request for a lot line adjustment between Parcels 1 and 2, as designated on the attached plat and descriptions marked Exhibit "A" and attached hereto, has been submitted by the record owners of the above properties (as shown in Exhibit `B", attached) of the City of Cupertino with the request that an adjustment of lot lines be approved by the City Engineer. The City Engineer hereby finds that the lot line adjustment requested is between two or more adjacent parcels, that the land taken from one of the parcels is added to the adjacent parcel and that a greater number of parcels than originally existed would not be created. Based on the above facts and findings and by the authority of Section 18.08.010H of the City of Cupertino Municipal Code and Section #66412d of the Subdivision Map Act, said lot line adjustment is hereby approved. This lot line adjustment shall be totally null and void without further act of the City of Cupertino, in the event that the change in title interest of ownership (including lien holder interest) is not recorded by Grant Deeds within twelve (12) months from the approved date and/or in the event that any change in title interest of ownership (including lien holder interest) from the specified on the preliminary title report designated on Exhibit `B" and attached hereto, occurs prior to the recordation of the grant deed conveying the real property in conformity to Exhibit "A". Approved this O�� day of $40-11-2001. RALPH A. QUALLS, JR. CITY ENGINEER CITY OF CUPERTINO By: EXHIBIT A DESCRIPTION OF EXISTING PARCEL 1 All that certain real property in the City of Cupertino, County of Santa Clara, State of California, being all of Lot 50 as shown upon that certain Map entitled,"Tract No. 717 Felton Park Subdivision No.3, being a Subdivision of a Portion of the NW4 Section 24, T.7 S., R.2 W., M.D.B & M ...", which Map was filed for record in the Office of the Recorder of said County on September 21, 1950 in Book 30 of Maps at page 48. Date: Jan. 5, 2001 Revised: April 13, 2001 "A 9 0 uj C1331 a_: c..�' 3-31-y t1:l CF C All that certain of Santa Clara, of Lot 50 of Map No. 3", filed on Santa Clara Coun- follows: EXHIBIT A PROPOSED PARCEL 1 real property in the City of Cupertino, County State of California being the Easterly 61.13 feet entitled: "Tract No. 717 Felton Park Subdivision September 21, 1950 in Book 30 of Maps, Page 48, ty Records, more particularly described as Beginning at the Northeasterly corner of said Lot on the Southerly line of Kirwin Lane, 60 feet wide; thence along the Easterly line of said Lot, South 125.00 feet to the Southeasterly corner thereof; thence along the Southerly line thereof, S89054'30"W 61.13 feet; thence leaving said Southerly line and along a line which is parallel with the Easterly line of said Lot, North 125.00 feet to the Southerly line of Kirwin Lane; thence along said line, N89054'30"E 61.13 feet to the point of beginning. Containing 7641.2 square feet or 0.175 of an acre, more or less. Date: Jan. 5, 2001 No. C1331€3 � Ex p: 3-31-O L) G cot DESCRIPTION OF EXISTING PARCEL 2 All that certain real property in the City of Cupertino, County of Santa Clara State of California, being all of Parcel 2 as said Parcel 2 is described in deed recorded on April 10, 1953 in Book 2617 at Page 67, Official Records of said County more particularly described as follows: Beginning at the Northwesterly corner of Lot 50 in the Southerly line of Kirwin Lane, as said Lot and Lane are shown upon the Map of Tract No. 717 Felton Park Subdivision Unit No. 3, which Map was filed for record on September 21, 1950 in Book 30, page 48, Santa Clara County Records; thence along the Westerly line of said Lot 50, South 125.00 feet to the Southwesterly corner thereof; thence along the Westerly prolongation of the Southerly line of said Tract No. 717 as shown on said Map, S89054'30"W 47.25 feet to an iron pipe at the Southwesterly corner of the 10 acre tract of land described in the Deed from M. Gatachina, et ux, to J.J. Krzich, recorded July 17, 1934 in Book 693 at page 387, Official Records of said County; thence along the Westerly line of said 10 acre tract, North 125.00 feet to an iron pipe in said Southerly line of Kirwin Lane; thence along said last mentioned line, N89054'30"E 47.25 feet to the point of beginning and being a portion of said 10 acre tract in the NW4 of Section 24, T. 7 S., R. 2 W., M.D.B.& M. Date: Jan. 5, 2001 Revised: April 13, 2001 4. 's' too. C13?313 -AW Exp: 3-31-O S 4- OF C-ti PROPOSED PARCEL 2 All that certain real property in the City of Cupertino, County of Santa Clara, State of California, being the Westerly 13.87 feet of Lot 50 of map entitled: "Tract No. 717 Felton Park Subdivision No. 3" which Map was recorded on September 21, 1950 in Book 30 of Maps at page 48 and all of that certain Parcel 2 of Deed recorded on April 10, 1953 in Book 2617 page 67, Official Records of said County, more particularly described as follows: Beginning at the Southwesterly corner of said Tract No. 717; thence along the Westerly line thereof, North 125.00 feet to the Southerly line of Kirwin Lane, 60 feet wide;thence along said line N89054'30"E 61.12 feet to a point which bears S89054'301W 61.13 feet from the Northeasterly corner of said Lot 50 of said Tract; thence leaving said line and parallel with the Easterly line of said Lot 50, South 125.00 feet to a point on the Southerly line of said Lot; thence along said line and the westerly prolongation of the Southerly line of said Tract 717, S89054130"W 61.12 feet to the point of beginning. Containing 7640.0 square feet, or 0.175 of an acre, more or less. Date: Jan. 5, 2001 S -1- 0 110✓J3- TMcti' T ,PEA : 1734 iz)(IBIT A. PLA T OF L 0T LWE 4,0TUSTMENT BET- WCEI1 LOTSO OA' TRACT /Vo. 717 AwU PARCEL 1`l0. Z d,' DEED RECORDED 1N 8,001< 2 61 T, PAGE 67 0FA71 Ci,4L IC E,�o2O.S O,c ' SQN TA CLARA covN Ty K CUP,ER —TlNO, CALIFORNIA JAN .5, 2001 c�> 1 R.WI N LANE 122.25 47.Z5 75.0 0 1.13 PARCEL 2 PARCEL 1 t x t = 590 6 5C �- - ti.1 Exi st Area= 93T5 5 i= �1 0 I --i'u E61d-z—,.I ° S _ I N a 0 L Z N s 13.87 L 0 z 3 47.25 -7 .00 589Q 54' 3o"vl 122. ZS /fir 't;'�\ C'e d T fA No. C13318 � 2 Exp- 3-31j05 �� •' OF C kL � 9,01 1 ' PL A T OF LOT L hVE AD.TUSTiSi!'ENT BEr= WEE/V 407S0 OA* -TRACT /V0. 7/7 ANO PARCEL No. 2 0i' DEED RECoRDEo IN 8dOK 2617, T PAGE 67 0ACI Ci,4L REeORD.5 OF SA Al TA CL.AgA covNTy, CUP,ER7"lN0, CALIEORNIA Kt Rw I N LANE 47.25 75. 3 0 ,. 71.i2- I '� 61.13 PARCEL 2 5 PARCEL 1 Et /Al5906 5C f — ti't Exist Area=531551= Proj j ea '' = 764L15 F C P roros�d' = 76415E ? o 1 o Ly ,{ S O � Lu o L Z N ;j fl L I o z (�;1.(3 4-7. Z5 :..� _l 5.0 O 58gQ 54' 3o" W )22. Z5 ,4OJJ5TivIcti'T ACEA = /?34 r= tPOB�Pc� 1 1 r� 1L1 a � Z kj �Ab � �► ra No.C13318� EXHIBIJ Fidelity National Title Company 10300 South DeAnza Blvd., #A • Cupertino, CA 95014 (408) 996-7177 • FAX (408) 252-8029 PRELIMINARY REPORT ESCROW OFFICER: Lori Fredericks ORDER NO.: 4005154 TITLE OFFICER: Amy Rubino LOAN NO.: TO: Cupertino Construction 10079 Saich Way Cupertino, CA 95014 ATTN: Teresa Wang SHORT TERM RATE: yes PROPERTY ADDRESS: 20706 Kirwin Lane -Parcel 1, Cupertino, California EFFECTIVE DATE: August 28, 2001, 07:30 A.M. The form of Policy or Policies of title insurance contemplated by this report is: American Land Title Association Construction Loan Policy (10-17-92) with A.L.T.A. Form 1 Coverage 1. THE ESTATE OR INTEREST IN THE LAND HEREINAFTER DESCRIBED OR REFERRED TO COVERED BY THIS REPORT IS: A Fee 2. TITLE TO SAID ESTATE OR INTEREST AT THE DATE HEREOF IS VESTE7 IN: SHERMAN TUAN AND YUN ZHENG, HUSBAND AND WIFE AS COMMUNITY PROPERTY 3. THE LAND REFERRED TO IN THIS REPORT IS SITUATED IN THE CITY OF CUPERTINO, IN THE COUNTY OF SANTA CLARA, STATE OF CALIFORNIA, AND IS DESCRIBED AS FOLLOWS: SEE EXHIBIT "ONE" ATTACHED HERETO AND MADE A PART HEREOF SK\sk 09/13/2001 1 WerI_ 114005154 EXHIBIT "ONE" Lot 50 as designated on the certain Map entitled, "Tract No. 717 Felton Park Subdivision Unit No. 3, being a subdivision of a portion of the N.W. 1 /4 of Section 24 T. 7 S. R. 2 W. M.D.B. & M. including a resubdivision of Lots 25, 26, 27 and 28 of Felton Park Subdivision Unit No. 2" which map was filed in the office of the Recorder of the County of Santa Clara, State of California on September 21, 1950 in Book 30 of Maps, at page 48. 2 Order No. 4005154 AT THE DATE HEREOF, ITEMS TO BE CONSIDERED AND EXCEPTIONS TO COVERAGE IN ADDITION TO THE PRINTED EXCEPTIONS AND EXCLUSIONS IN SAID POLICY FORM WOULD BE AS FOLLOWS: Property taxes, including any personal property taxes and any assessments collected with taxes, for the fiscal year 2001-2002, Assessor's Parcel Number 359-23-005. Code Area Number: 13-002 1st Installment: $473.90 open 2nd Installment: $473.90 open Land: $16,238.00 Improvements: $39,392.00 Exemption: $ Personal Property: $ Affects: The herein described land and other land. 2. The lien of supplemental taxes, if any, assessed pursuant to the provisions of Chapter 3.5 (Commencing with Section 75) of the Revenue and Taxation code of the State of California. 3. THE REQUIREMENT THAT A CERTIFICATE OF COMPLIANCE BE RECORDED PRIOR TO THE CLOSE OF ESCROW. 4. Covenants, conditions and restrictions (deleting therefrom any restrictions indicating any preference, limitation or discrimination based on race, color, religion, sex, handicap, familial status or national origin) as set forth in the document Recorded: October 9, 1950, Book 2070, Page 294, of Official Records Said covenants, conditions and restrictions provide that a violation thereof shall not defeat the lien of any mortgage or deed of trust made in good faith and for value. Note: Section 12956.1 of the Government Code provides the following: If this document contains any restriction based on race, color, religion, sex familial status, disability, national origin, or ancestry, that restriction violates state and federal housing laws and is void. Any person holding an interest in this property may request that the county recorder remove the restrictive language pursuant to subdivision (c) of Section 12956.1 of the Government Code. 5. A deed of trust to secure an indebtedness in the amount shown below, and any other obligations secured thereby Amount: $610,000.00 Dated: APRIL 20, 2001 Trustor: SHERMAN TUAN AND YUN ZHENG, AS COMMUNITY PROPERTY Trustee: GREATERBAY BANCORP Beneficiary: CUPERTINO NATIONAL BANK & TRUST, ITS SUCCESSORS AND ASSIGNS Loan No.: 301091803 Recorded: May 2, 2001, Instrument No. 15662145, of Official Records Affects: The herein described land and other land. 3 EXHOH , iTEMS: (Continued) Order No. 4005154 END OF ITEMS Note 1. The only deeds affecting said land, which recorded within twenty-four (24) months of the date of this report, as are follows: Grantor: Bertice B. Glass, as successor trustee of the Glass Family Trust Grantee: SHERMAN TUAN AND YUN SHENG, HUSBAND AND WIFE AS COMMUNITY PROPERTY Recorded: May 2, 2001, Instrument No. 15662144, of Official Records Note 2. Your application for title insurance was placed by reference to a street address only. Based on our records, we believe that the description in this report covers the parcel that you requested. To prevent errors and to be certain that the proper pai cel of land will appear on the documents and on the policy of title insurance, we require written approval of the legal description in this report be sent to this Company, signed by the parties to the transaction. Note 3. Section 12413.1, California Insurance Code became effective January 1, 1990. This legislation deals with the disbursement of funds deposited with any title entity acting in an escrow or subescrow capacity. The law requires that all funds be deposited and collected by the title entity's escrow and/or subescrow account prior to disbursement of any funds. Some methods of funding may subject funds to a holding period which must expire before any funds may be disbursed. In order to avoid any such delays, all fundings should be done through wire transfer, certified check or checks drawn on California financial institutions. Note 4. The charge where an order is cancelled after the issuance of the report of title, will be that amount which in the opinion of the Company is proper compensation for the services rendered or the purpose for which the report is used, but in no event shall said charge be less than the minimum amount required under Section 12404.1 of the Insurance Code of the State of California. If the report cannot be cancelled "no fee" pursuant to the provisions of said Insurance Code, then the minirrnum cancellation fee shall be that permitted by law. Note 5. California Revenue and Taxation Code Section 18668, effective January 1, 1991, requires that the buyer in all sales of California Real Estate, wherein the Seller shows an out of State Address, withhold 3-1/3% of the total sales price as California State Income Tax, subject to the various provisions of the law as therein contained. 4 Fidelity National Financial Group of Companies' Privacy Statement July 1, 2001 We recognize and respect the privacy expectations of today's consumers and the requirements of applicable federal and state privacy laws. We believe that making you aware of how we use your non-public personal information ("Personal Information"), and to whom it is disclosed, will form the basis for a relationship of trust between us and the public that we serve. This Privacy Statement provides that explanation. We reserve the right to change this Privacy Statement from time to time consistent with applicable privacy laws. In the course of our business, we may collect Personal Information about you from the following sources: * From applications or other forms we receive from you or your authorized representative * From your transactions with, or from the services being performed by, us, our affiliates, or others * From our internet web sites * From the public records maintained by governmental entities that we either obtain directly from those entities, or from our affiliates or others and * From consumer or other reporting agencies. Our Policies Regarding the Protection of the Confidentiality and Security of Your Personal Information We maintain physical, electronic and procedural safeguards to protect your Personal Information from unauthorized access or intrusion. We limit access to the Personal Information only to those employees who need such access in connection with providing products or services to you or for other legitimate business purposes. Our Policies and Practices Regarding the Sharing of Your Personal Information We may share your Personal Information with our affiliates, such as insurance companies, agents, and other real estate settlement service providers. We also may disclose your Personal Information: * to agents, brokers or representatives to provide you with services you have requested * to third -party contractors or service providers who provide services or perform marketing or other functions on our behalf and * to others with whom we enter into joint marketing agreements for products or services that we believe you may find of interest. In addition, we will disclose your Personal Information when you direct or give us permission, when we are required by law to do so, or when we suspect fraudulent or criminal activities. We also may disclose your Personal Information when otherwise permitted by applicable privacy laws such as, for example, when disclosure is needed to enforce our rights arising out of any agreement, transaction or relationship with you. One of the important responsibilities of some of our affiliated companies is to record documents in the public domain. Such documents may contain your Personal Information. Right to Access Your Personal Information and Ability To Correct Errors Or Request Changes Or Deletion Certain states afford you the right to access your Personal Information and, under certain circumstances, to find out to whom your Personal Information has been disclosed. Also, certain states afford you the right to request correction, amendment ITEMS: (Continued) EXHIBil 6 Order No. 4005154 or deletion of your Personal Information. We reserve the right, where permitted by law, to charge a reasonable fee to cover the costs incurred in responding to such requests. All requests must be made in writing to the following address: Privacy Compliance Officer Fidelity National Financial, Inc. 4050 Calle Real, Suite 220 Santa Barbara, CA 93110 Multiple Products or Services If we provide you with more than one financial product or service, you may receive more than one privacy notice from us. We apologize for any inconvenience this may cause you. EXHIBIT A AMERICAN LAND TITLE ASSOCIATION RESIDENTIAL TITLE INSURANCE POLICY (6-1-87) EXCLUSIONS In addition to the Exceptions in Schedule B, you are not insured against loss, costs, attorneys' fees, and expenses resulting from: 1. Governmental police power, and the existence or violation of any law or government regulation. This includes building and zoning ordinances and also laws and regulations concerning: • land use • improvements on the land • land division • environmental protection This exclusion does not apply to violations or the enforcement of these matters which appear in the public records at policy date. This exclusion does not limit the zoning coverage described in Items 12 and 13 of Covered Title Risks. 2. The right to take the land by condemning it, unless: • a notice of exercising the right appears in the public records on the Policy Date • the taking happened prior to the Policy Date and is binding on you if you bought the land without knowledge of the taking EXHIBIT B 3.Title Risks: • that are created, allowed, or agreed to by you • that are known to you, but not to us, on the Policy Date -unless they appeared in the public records • that result in no loss to you • that first affect your title after the Policy Date - this does not limit the labor and material lien coverage in Item 8 of Covered Title Risks 4. Failure to pay value for your title. 5. Lack of a right: • to any land outside the area specifically described and referred to in Item 3 of Schedule A or • in streets, alleys, or waterways that touch your land This exclusion does not limit the access coverage in Item 5 of Covered Title Risks. SCHEDULE EXCEPTIONS In addition to the Exclusions, you are not insured against loss, costs, attorneys' fees, and the expenses resulting from: 1. Any rights, interests, or claims of parties in possession of the land not shown by the public records. 2. Any easements or liens not shown by the public records. This does not limit the lien coverage in Item 8 of Covered Title Risks. 3. Any facts about the land which a correct survey would disclose and which are not shown by the public records. This does not limit the forced removal coverage in item 12 of Covered Title Risks. 4. Any water rights or claims or title to water in or under the land, whether or not shown by the public records. CALIFORNIA LAND TITLE ASSOCIATION STANDARD COVERAGE POLICY - 1990 EXCLUSIONS FROM COVERAGE The following matters are expressly excluded from the coverage of this policy and the Company will not pay loss or damage, costs, attorneys' fees or expenses which arise by reason of: 1. (a) Any law, ordinance or governmental regulation (including butnot limited to building and 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 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. 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 data 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 (a) 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. 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. 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. 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. SCHEDULE B, PART I EXCEPTIONS FROM COVERAGE 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: PART 1 1. Taxes or assessments which are not shown as existing liens by the records of any taxing authority that 3. Easements, liens or encumbrances, or claims thereof, which are not shown by the public records. levies taxes or assessments on real property or by the public records. Proceedings by a public agency 4. Discrepancies, conflicts in boundary lines, shortage in area, encroachments, or any other facts which which may result in taxes or assessments, or notices of such proceedings, whether or not shown by a correct survey would disclose, and which are not shown by the public records. the records of such agency or by the public records. 5. (a) Unpatented mining claims; (b) reservations or exceptions in patents or in Acts authorizing the 2. Any facts, rights, interests or claims which are not shown by the public records but which could be issuance thereof; (c) water rights, claims or title to water, whether or not the matters excepted under ascertained by an inspection of the land or which may be asserted by persons in possession thereof. (a), (b), or (c) are shown by the public records. EXHIBIT A (CONTINUED) AMERICAN LAND TITLE ASSOCIATION LOAN POLICY (10-17-92) WITH A.L.T.A. ENDORSEMENT -FORM 1 COVERAGE AND AMERICAN LAND TITLE ASSOCIATION LEASEHOLD LOAN POLICY (10-17-92) WITH A.L.T.A. ENDORSEMENT -FORM 1 COVERAGE 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 butnot limited to building and zoning laws, ordinances, or regulations) restricting, regulating, prohibiting or relating to (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 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. 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) created, suffered, assumed or agreed to by the insured claimant; IN 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 data 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 (except to the extent that this policy insures the priority of the lien of the insured mortgage over any statutory lien for services, labor or material or to the extent insurance is afforded herein as to assessments for street improvements under construction or completed at Date of Policy); or (a) resulting in loss or damage which would not have been sustained if the insured claimant had paid value for the insured mortgage. 4. Unenforceability of the lien of the insured mortgage because of the inability or failure of the insured at Date of Policy, or the inability or failure of any subsequent owner of the indebtedness, to comply wit. 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 statutory lien for services, labor or materials (or the claim of priority of any statutory lien for services, labor or materials over the lien of the insured mortgage) arising from an improvement or work related to the land which is contracted for and commenced subsequent to Data of Policy and is not financed in whole or part by proceeds of the indebtedness secured by the insured mortgage which at Date of Policy the insured has advanced or is obligated to advance. 7. Any claim, which arises out of the transaction creating the interest of the mortgagee insured by this policy, by reason of the operation of federal bankruptcy, state insolvency, or similar creditors' rights laws, that is based on: (i) the transaction creating the interest of the insured mortgagee being deemed a fraudulent conveyance or fraudulent transfer; or III) the subordination of the interest of the insured mortgagee as a result of the application of the doctrine of equitable subordination; or (iii) the transaction creating the interest of the insured mortgagee being deemed a preferential transfer except where the preferential transfer results from the failure: (a) to timely record the instrument of transfer; or (b) of such recordation to impart notice to a purchaser for value or a judgement or lief. creditor. AMERICAN LAND TITLE ASSOCIATION OWNER'S POLICY 00-17-92) AND AMERICAN LAND TITLE ASSOCIATION LEASEHOLD OWNER'S POLICY (10-17-92) 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 butnot limited to building and zoning laws, ordinances, or regulations) restricting, regulating, prohibiting or relating to (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 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. 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) 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 (a) resulting in loss or damage which would not have been sustained if the insured claimant had paid value for the estate or interest insured by this policy. Any claim, which arises out of the transaction vesting in the insured the estate or interest insured by this policy, by reason of the operation of federal bankruptcy, state insolvency, or similar creditors' rights laws, that is based on: (i) the transaction creating the estate or interest insured by this policy being deemed a fraudulent conveyance or fraudulent transfer; or (ii) the transaction creating the estate or interest insured by this policy being deemed a preferential transfer except where the preferential transfer results from the failure: (a) to timely record the instrument of transfer; or (b) of such recordation to impart notice to a purchaser for value or a judgement or lien creditor. The above ALTA policy forms may be issued to afford either Standard Coverage or Extended Coverage. In addition to the above Exclusions from Coverage, the Exceptions from Coverage in a Standard Coverage policy will also include the following General Exceptions: EXCEPTIONS FROM COVERAGE 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 3. Easements, liens or encumbrances, or claims thereof, which are not shown by the public records. levies taxes or assessments on real property or by the public records. Proceedings by a public agency 4. Discrepancies, conflicts in boundary lines, shortage in area, encroachments, or any other facts which which may result in taxes or assessments, or notices of such proceedings, whether or not shown by a correct survey would disclose, and which are not shown by the public records. the records of such agency or by the public records. 5. (a) Unpatented mining claims; (b) reservations or exceptions in patents or in Acts authorizing the 2. Any facts, rights, interests or claims which are not shown by the public records but which could be issuance thereof; (c) water rights, claims or title to water, whether or not the matters excepted under ascertained by an inspection of the land or by making inquiry of persons in possession thereof. (a), (b) or (c) are shown by the public records. EXHIBIT A (CONTINUED) CLTA HOMEOWNER'S POLICY OF TITLE INSURANCE (6-2-98) ALTA HOMEOWNER'S POLICY OF TITLE INSURANCE 00-17-98) EXCLUSIONS In addition to the Exceptions in Schedule B, You are not insured against loss, costs, attorneys' fees, and expenses resulting from: 1. Governmental police power, and the existence or violation of any law or government regulation. This includes ordinances, laws and regulations concerning: a. building b. zoning c. Land use d. improvements on Land e. Land division f. environmental protection This Exclusion does not apply to violations or the enforcement of these matters if notice of the violation or enforcement appears in the Public Records at the Policy Date. This Exclusion does not limit the coverage described in Covered Risk 14, 15, 16, 17 or 24. 2. The faik— of Your existing structures, or any part of them, to be constructed in accordance with applicable building codes. This Exclusion does not apply to violations of building codes if notice of the violation appears in the Public Records at the Policy Date. 3. The right to take the Land by condemning it, unless: a. notice of exercising the right appears in the Public Records at the Policy Date; or b. the taking happened before the Policy Date and is binding on You if You bought the Land without Knowing of the taking. 4. Risks: a. that are created, allowed, or agreed to by You, whether or not they appear in the Public Records; b. that are Known to You at the Policy Date, but not to Us, unless they appear in the Public Records at the Policy Data; 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.d, 22, 23, 24 or 25. 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 18. RESIDENTIAL TITLE INSURANCE POLICY ONE -TO -FOUR FAMILY RESIDENCE ENHANCED VERSION (1997) EXCLUSIONS In addition to the Exceptions in Schedule B, you are not insured against loss, costs, attorneys' fees, and expenses resulting from: 1. Governmental police power, and the existence or violation of any law or government regulation. This includes building and zoning ordinances and also laws and regulations concerning: a. land use; b. improvements on the land; c. land divisions; or d. environmental protection. This exclusion does not apply to violations or the enforcement of these matters which appear in the public records at Policy Date. This exclusion does not limit the coverage described in Item 12c and d, 13 and 18 of Covered Title Risks. 2. The right to take the land by condemning it, unless: a. a notice of exercising the right appears in the public records on the Policy Date; or b. the taking happened prior to the Policy Date and is binding on you if you bought the land without knowing of the taking. 3. Title Risks: a. that are created, allowed, or agreed to by you; b. that are known to you, but not to us, on the Policy Date - unless they appeared in the public records; c. that result in no loss to you; or d. that first affect your title after the Policy Date this does not limit the coverage described in Items 3b, 8, 17 and 19 of Covered Title Risks. 4. Failure to pay value for your title. 5. Lack of a right: (a) to any land outside the area specifically described and referred to in Item 3 of Schedule A or (b) in streets, alleys, or waterways that touch your land. This exclusion does not limit the coverage described in Items 5 and 12a of the Covered Title Risks. I IQ N --- 4—KIM -I- ISTREET__.� 1 , +.S'1 So 71.I0 1 _ (FMLY. 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W ROAD) i Fidelity National Title Company PRELIMINARY REPORT In response to the application for a policy of title insurance referenced herein, Fidelity National Title Company hereby reports that it is prepared to issue, or cause to be issued, as of the date hereof, a Policy or Policies of Title Insurance describing the land and the estate or interest therein hereinafter set forth, insuring against loss which may be sustained by reason of any defect, lien or encumbrance not shown or referred to as an Exception below or not excluded from coverage pursuant to the printed Schedules, Conditions and Stipulations of said Policy forms. The printed Exceptions and Exclusions from the coverage of said Policy or Policies are set forth in Exhibit A attached. Copies of the Policy forms should be read. They are available from the office which issued this report. This report (and any supplements or amendments hereto) is issued solely for the purpose of facilitating the issuance of a policy of title insurance and no liability is assumed hereby. If it is desired that liability be assumed prior to the issuance of a policy of title insurance, a Binder or Commitment should be requested. The Policy(s) of title insurance to be issued hereunder will be policy(s) of Fidelity National Title Insurance Company, a California Corporation. Please read the exceptions shown or referred to below and the exceptions and exclusions set forth in Exhibit A of this report carefully. The exceptions and exclusions are meant to provide you with notice of matters which are not covered under the terms of the title insurance policy and should be carefully considered. It is important to note that this preliminary report is not a written representation as to the condition of title and may not list all liens, defects and encumbrances affecting title to the land. Countersigned FidelNy National Title Company BY c rapP 0 A�l� SEAL ATTEST President Sacm(ary EXHIBIl B r-h 0Fidelity National Title Company N We 10300 South DeAnza Blvd., #A • Cupertino, CA 95014 (408) 996-7177 • FAX (408) 252-8029 PRELIMINARY REPORT ESCROW OFFICER: Lori Fredericks ORDER NO.: 4005155 TITLE OFFICER: Sherri Keller LOAN NO.: TO: Cupertino Construction 10079 Saich Way Cupertino, CA 95014 ATTN: Danny Lee SHORT TERM RATE: yes PROPERTY ADDRESS: 20760 Kirwin Lane -Parcel 2, Cupertino, California EFFECTIVE DATE: August 28, 2001, 07:30 A.M. The form of Policy or Policies of title insurance contemplated by this report is: American Land Title Association Construction Loan Policy (10-17-92) with A. L.T.A. Form 1 Coverage 1. THE ESTATE OR INTEREST IN THE LAND HEREINAFTER DESCRIBED OR REFERRED TO COVERED BY THIS REPORT IS: A Fee 2. TITLE TO SAID ESTATE OR INTEREST AT THE DATE HEREOF IS VESTED IN: SHERMAN TUAN AND YUN ZHENG, HUSBAND AND WIFE AS COMMUNITY PROPERTY 3. THE LAND REFERRED TO IN THIS REPORT IS SITUATED IN THE CITY OF CUPERTINO, IN THE COUNTY OF SANTA CLARA, STATE OF CALIFORNIA, AND IS DESCRIBED AS FOLLOWS: SEE EXHIBIT "ONE" ATTACHED HERETO AND MADE A PART HEREOF SK\sk 09/13/2001 1 'F-XHIBII Order No. 4005155 EXHIBIT "ONE" Beginning at the Northwesterly corner of Lot 50 in the Southerly line of Kirwin Lane, as said Lot and Lane are shown upon the Map of Tract No. 717 Felton Park Subdivision Unit No. 3, which said Map was filed for record in the office of the Recorder of the County of Santa Clara, State of California, on September 21, 1950 in Book 30 of Maps, page 48; thence along the Westerly line of said Lot 50, South 125 feet to the Southwesterly corner thereof; thence along the Westerly prolongation of the Southerly line of said Tract No. 717 as shown on said Map, South 890 54' 30" W. 47.25 feet to an iron pipe at the Southwesterly corner of the 10 acre tract of land described in the Deed from M. Gachina, et ux, to J.J. Krzich, dated June 16, 1934 and recorded July 17, 1934 in Book 693 of Official Records page 387, thence along the Westerly line of said 10 acre trait, North 125 feet to an iron pipe in said Southerly line of Irwin Lane; thence along said last mentioned line North 890 54' 30" East 47.25 feet to the point of beginning and being a portion of said 10 acre tract in the Northwest 1 /4 of Section 24, Township 7 South Range 2 West, Mount Diablo Base and Meridian. 2 =Xri �' n Order No. 4005155 AT THE DATE HEREOF, ITEMS TO BE CONSIDERED AND EXCEPTIONS TO COVERAGE IN ADDITION TO THE PRINTED EXCEPTIONS AND EXCLUSIONS IN SAID POLICY FORM WOULD BE AS FOLLOWS: 1. Property taxes, including any personal property taxes and any assessments collected with taxes, for the fiscal year 2001-2002, Assessor's Parcel Number 359-23-005. Code Area Number: 13-002 1st Installment: $473.90 open 2nd Installment: $473.90 open Land: $16,238.00 Improvements: $39,392.00 Exemption: $ Personal Property: $ Affects: The herein described land and other land. 2. The lien of supplemental taxes, if any, assessed pursuant to the provisions of Chapter 3.5 (Commencing with Section 75) of the Revenue and Taxation code of the State of California. 3. THE REQUIREMENT THAT A CERTIFICATE OF COMPLIANCE BE RECORDED PRIOR TO THE CLOSE OF ESCROW. 4. Covenants, conditions and restrictions (deleting therefrom any restrictions indicating any preference, limitation or discrimination based on race, color, religion, sex, handicap, familial status or national origin) as set forth in the document Recorded: October 9, 1950, Book 2070, Page 294, of Official Records Said cove.iants, conditions and restrictions provide that a violation thereof shall not defeat the lien of any mortgage or deed of trust made in good faith and for value. Note: Section 12956.1 of the Government Code provides the following: If this document contains any restriction based on race, color, religion, sex familial status, disability, national origin, or ancestry, that restriction violates state and federal housing laws and is void. Any person holding an interest in this property r'. Ay request that the county recorder remove the restrictive language pursuant to subdivision (c) of Section 12956.1 of the Government Code. 5. A deed of trust to secure an indebtedness in the amount shown below, and any other obligations secured thereby Amount: $610,000.00 Dated: APRIL 20, 2001 Trustor: SHERMAN TUAN AND YUN ZHENG, AS COMMUNITY PROPERTY Trustee: GREATERBAY BANCORP Beneficiary: CUPERTINO NATIONAL BANK & TRUST, ITS SUCCESSORS AND ASSIGNS Loan No.: 301091803 Recorded: May 2, 2001, Instrument No. 15662145, of Official Records Affects: The herein described land and other land. EEXHIBII B ITEMS: (Continued) Order No. 4005155 END OF ITEMS Note 1. The only deeds affecting said land, which recorded within twenty-four (24) months of the date of this report, as are follows: Grantor: Bertice B. Glass, successor Trustee of the Glass Family Trust Grantee: Sherman Tuan and Yun Zheng, husband and wife, as community property Recorded: May 2, 2001, Instrument No. 15662144, of Official Records Note 2. Your application for title insurance was placed by reference to a street address only. Based on our records, we believe that the description in this report covers the parcel that you requested. To prevent errors and to be certain that the proper parcel of land will appear on the documents and on the policy of title insurance, we require written approval of the legal description in this report be sent to this Company, signed by the parties to the transaction. Note 3. Section 12413.1, California Insurance Code became effective January 1, 1990. This legislation deals with the disbursement of funds deposited with any title entity acting in an escrow or subescrow capacity. The law requires that all funds be deposited and collected by the title entity's escrow and/or subescrow account prior to disbursement of any funds. Some methods of funding may subject funds to a holding period which must expire before any funds may be disbursed. In order to avoid any such delays, all fundings should be done through wire transfer, certified check or checks drawn on California financial institutions. Note 4. The charge where an order is cancelled after the issuance of the report of title, will be that amount which in the opinion of the Company is proper compensation for the services rendered or the purpose for which the report is used, but in no event shall said charge be less than the minimum amount required under Section 12404.1 of the Insurance Code of the State of California. If the report cannot be cancelled "no fee" pursuant to the provisions of said Insurance Code, then the minimum cancellation fee shall be that permitted by law. Note 5. California Revenue and Taxation Code Section 18668, effective January 1, 1991, requires that the buyer in all sales of California Real Estate, wherein the Seller shows an out of State Address, withhold 3-1/3% of the total sales price as California State Income Tax, subject to the various provisions of the law as therein contained. 4 Fidelity National Financial Group of Companies' Privacy Statement EXHIB11 13 July 1, 2001 We recognize and respect the privacy expectations of today's consumers and the requirements of applicable federal and state privacy laws. We believe that making you aware of how we use your non-public personal information ("Personal Information"), and to whom it is disclosed, will form the basis for a relationship of trust between us and the public that we serve. This Privacy Statement provides that explanation. We reserve the right to charge this Privacy Statement from time to time consistent with applicable privacy laws. In the course of our business, we way collect Personal Information about you from the following sources: * From applications or other forms we receive from you or your authorized representative * From your transactions with, or from the services being performed by, us, our affiliates, or others * From our internet web sites * From the public records maintained by governmental entities that we either obtain directly from those entities, or from our affiliates or others and * From consumer or other reporting agencies. Our Policies Regarding the Protection of the Confidentiality and Security of Your Personal Information We maintain physical, electronic and procedural safeguards to protect your Personal Information from unauthorized access or intrusion. We limit access to the Personal Information only to those employees who need such access in connection with providing products or services to you or for other legitimate business purposes. Our Policies and Practices Regarding the Sharing of Your Personal Information We may share your Personal Information with our affiliates, such as insurance companies, agents, and other real estate settlement service providers. We also may disclose your Personal Information: * to agents, brokers or representatives to provide you with services you have requested * to third -party contractors or service providers who provide services or perform marketing or other functions on our behalf and * to others with whom we enter into joint marketing agreements for products or services that we believe you may find of interest. In addition, we will disclose your Personal Information when you direct or give us permission, when we are required by law to do so, or when we suspect fraudulent or criminal activities. We also may disclose your Personal Information when otherwise permitted by applicable privacy laws such as, for example, when disclosure is needed to enforce our rights arising out of any agreement, transaction or relationship with you. One of the important responsibilities of some of our affiliated companies is to record documents in the public domain. Such documents may contain your Personal Information. Right to Access Your Personal Information and Ability To Correct Errors Or Request Changes Or Deletion Certain states afford you the right to access your Personal Information and, under certain circumstances, to find out to whom your Personal Information has been disclosed. Also, certain states afford you the right to request correction, amendment ITEMS: (Continued) Order No. 4005155 or deletion of your Personal Information. We reserve the right, where permitted by law, to charge a reasonable fee to cover the costs incurred in responding to such requests. All requests must be made in writing to the following address: Privacy Compliance Officer Fidelity National Financial, Inc. 4050 Calle Real, Suite 220 Santa Barbara, CA 93110 Multiple Products or Services If we provide you with more than one financial product or service, you may receive more than one privacy notice from us. We apologize for any inconvenience this may cause you. EXHIBIT A AMERICAN LAND TITLE ASSOCIATION RESIDENTIAL TITLE INSURANCE POLICY (6-1-87) EXCLUSIONS In addition to the Exceptions in Schedule B, you are not insured against loss, costs, attorneys' fees, and expenses resulting from: 1. Governmental police power, and the existence or violation of any law or government regulation. This includes building and zoning ordinances and also laws and regulations concerning: • land use • improvements on the land • land division • environmental protection This exclusion does not apply to violations or the enforcement of these matters which appear in the public records at policy date. This exclusion does not limit the zoning coverage described in Items 12 and 13 of Covered Title Risks. 2. The right to take the land by condemning it, unless: • a notice of exercising the right appears in the public records on the Policy Date • the taking happened prior to the Policy Date and is binding on you if you bought the land without knowledge of the taking 3.Title Risks: • that are created, allowed, or agreed to by you • that are known to you, but not to us, on the Policy Date -unless they appeared in the public records • that result in no loss to you • that first affect your title after the Policy Date - this does not limit the labor and material lien coverage in Item 8 of Covered Title Risks 4. Failure to pay value for your title. 5. Lack of a right: • to any land outside the area specifically described and referred to in Item 3 of Schedule A or • in streets, alleys, or waterways that touch your land is exclusion does not limit the access coverage in Item 5 of Covered Title Risks, SCHEDULE B EXCEPTIONS In addition to the Exclusions, you are not insured against loss, costs, attorneys' fees, and the expenses resulting from: 1. Any rights, interests, or claims of parties in possession of the land not shown by the public records. 2. Any easements or liens not shown by the public records. This does not limit the lien coverage in Item 8 of Covered Title Risks. 3. Any facts about the land which a correct survey would disclose and which are not shown by the public records. This does not limit the forced removal coverage in item 12 of Covered Title Risks. 4. Any water rights or claims or title to water in or under the land, whether or not shown by the public records. CALIFORNIA LAND TITLE ASSOCIATION STANDARD COVERAGE POLICY - 1990 EXCLUSIONS FROM COVERAGE The following matters are expressly excluded from the coverage of this policy and the Company will not pay loss or damage, costs, attorneys' fees or expenses which arise by reason of: 1. (a) Any law, ordinance or governmental regulation (including butnot limited to building and 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; Oil) 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 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. 2. Rights of eminent domain unless notice of the exercise thereof has been recorded in the public records at Data 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 data 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 (a) 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. 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. 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. 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 ir. -st of the insured lender, by reason of the operation of federal bankruptcy, state insolvency or simi,ar creditors' rights laws. SCHEDULE B, PART I EXCEPTIONS FROM COVERAGE 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: PART 1 1. Taxes or assessments which are not shown as existing liens by the records of any taxing authority that 3. Easements, liens or encumbrances, or claims thereof, which are not shown by the public records levies taxes or assessments on real property or by the public records. Proceedings by a public agency 4. Discrepancies, conflicts in boundary lines, shortage in area, encroachments, or any other facts which which may result in taxes or assessments, or notices of such proceedings, whether or not shown by a correct survey would disclose, and which are not shown by the public records. the records of such agency or by the public records. 5. (a) Unpatented mining claims; (b) reservations or exceptions in patents or in Acts authorizing the 2. Any facts, rights, interests or claims which are not shown by the public records but which could be issuance thereof; (c) water rights, claims or title to watcF, whether or not the matters excepted under ascertained by an inspection of the land or which may be asserted by persons in possession thereof. (a), (b), or (c) are shown by `tie public records. EXHIBIT A (CONTINUED) AMERICAN LAND TITLE ASSOCIATION LOAN POLICY 00-17-92) WITH A.L.T.A. ENDORSEMENT -FORM 1 COVERAGE AND AMERICAN LAND TITLE ASSOCIATION LEASEHOLD LOAN POLICY (10-17-92) WITH A.L.T.A. ENDORSEMENT -FORM 1 COVERAGE 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 and zoning laws, ordinances, or regulations) restricting, regulating, prohibiting or relating to (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 encuml,-ance 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 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. 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) 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 data 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 (except to the extent that this policy insures the priority of the lien of the insured mortgage over any statutory lien for services, labor or material or to the extent insurance is afforded herein as to assessments for street improvements under construction or completed at Date of Policy); or (a) resulting in loss or damage which would not have been sustained if the insured claimant had paid value for the insured mortgage. 4. Unenforceability of the lien of the insured mortgage because of the inability or failure of the insured at Date of Policy, or the inability or failure of any subsequent owner of the indebtedness, to comply with 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. 5. Any statutory lien for services, labor or materials (or the claim of priority of any statutory lien for services, labor or materials over the lien of the insured mortgage) arising from an improvement or work related to the land which is contracted for and commenced subsequent to Date of Policy and is not financed in whole or in part by proceeds of the indebtedness secured by the insured mortgage which at Date of Policy the insured has advanced or is obligated to advance. 7. Any claim, which arises out of the transaction creating the interest of the mortgages insured by this policy, by reason of the operation of federal bankruptcy, state insolvency, or similar creditors' rights laws, that is based on: (i) the transaction creating the interest of the insured mortgagee being deemed a fraudulent conveyance or fraudulent transfer; or (ii) the subordination of the interest of the insured mortgagee as a result of the application of the doctrine of equitable subordination; or NO the transaction creating the interest of the insured mortgagee being deemed a preferential transfer except where the preferential transfer results from the failure: (a) to timely record theinstrument of transfer;. or (b) of such recordation to impart notice to a purchaser for value or a judgement or lien creditor. AMERICAN LAND TITLE ASSOCIATION OWNER'S POLICY 00-17-92) AND AMERICAN LAND TITLE ASSOCIATION LEASEHOLD OWNER'S POLICY (10-17-92) 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 and zoning laws, ordinances, or regulations) restricting, regulating, prohibiting or relating to (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 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. 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) 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 (a) resulting in loss or damage which would not have been sustained if the insured claimant had paid value for the estate or interest insured by this policy. Any claim, which arises out of the transaction vesting in the insured the estate or interest insured by this policy, by reason of the operation of federal bankruptcy, state insolvency, or similar creditors' rights laws, that is based on: Ill the transaction creating the estate or interest insured by this policy being deemed a fraudulent conveyance or fraudulent transfer; or (ii) the transaction creating the estate or interest insured by this policy being deemed a preferential transfer except where the preferential transfer results from the failure: (a) to timely record the instrument of transfer; or (b) of such recordation to impart notice to a purchaser for value or a judgement or lien creditor. The above ALTA policy forms may be issued to afford either Standard Coverage or Extended Coverage. In addition to the above Exclusions from Coverage, the Exceptions from Coverage in a Standard Coverage policy will also include the following General Exceptions: EXCEPTIONS FROM COVERAGE 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 3. Easements, liens or encumbrances, or claims thereof, which are not shown by the public records. levies taxes or assessments on real property or by the public records. Proceedings by a public agency 4. Discrepancies, conflicts in boundary lines, shortage in area, encroachments, or any other facts which which may result in taxes or assessments, or notices of such proceedings, whether or not shown by a correct survey would disclose, and which are not shown by the public records, the records of such agency or by the public records. 5. (a) Unpatented mining claims; (b) reservations or exceptions in patents or in Acts authorizing the 2. Any facts, rights, interests or claims which are not shown by the public records but which could be issuance thereof; (c) water rights, claims or title to water, whether or not the matters excepted under ascertained by an inspection of the land or by making inquiry of persons in possession thereof. (a), (b) or (c) are shown by the public records. EXHIBIT A (CONTINUED) CLTA HOMEOWNER'S POLICY OF TITLE INSURANCE (6-2 98) ALTA HOMEOWNER'S POLICY OF TITLE INSURANCE (10-17-98) EXCLUSIONS In addition to the Exceptions in Schedule B, You are not insured against loss, costs, attorneys' fees, and expenses resulting from: 1. Governmental police power, and the existence or violation of any law or government regulation. This includes ordinances, laws and regulations concei ,g: a. building b. zoning c. Land use d. improvements on Land e. Land division f. environmental protection This Exclusion does not apply to violations or the enforcement of these matters if notice of the violation or enforcement appears in the Public Records at the Policy Date. This Exclusion does not limit the coverage described in Covered Risk 14, 15, 16, 17 or 24. 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 apply to violations of building codes if notice of the violation appears in the Public Records at the Policy Date. 3. The right to take the Land by condemning it, unless: a. notice of exercising the right appears in the Public Records at the Policy Date; or the taking happened before the Policy Date and is binding on You if You bought the Land without Knowing of the taking. 1 4. Risks: ' a. that are created, allowed, or agreed to by You, whether or not they appear in the Public Records; b. that are Known to You at the Policy Date, but not to Us, unless they appear 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, 8A, 22, 23, 24 or 25. 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 18. RESIDENTIAL TITLE INSURANCE POLICY ONE -TO -FOUR FAMILY RESIDENCE ENHANCED VERSION (1997) EXCLUSIONS In addition to the Exceptions in Schedule B, you are not insured against loss, costs, attorneys' fees, and expenses resulting from: 1. Governmental police power, and the existence or violation of any law or government regulation. This includes building and zoning ordinances and also laws and regulations concerning: a. land use; b. improvements on the land; c. land divisions; or d. environmental protection. This exclusion does not apply to violations or the enforcement of these matters which appear in the public records at Policy Data. This exclusion does not limit the coverage described in Item 12c and d, 13 and 18 of Covered Title Risks. 2. The right to take the land by condemning it, unless: a. a notice of exercising the right appears in the public records on the Policy Date; or b. the taking happened prior to the Policy Date and is binding on you if you bought the land without knowing of the taking. 3. Title Risks: a. that are creased, allowed, or agreed to by you; b. that are known to you, but not to us, on the Policy Date - unless they appeared in the public records; c. that result in no loss to you; or d. that first affect your title after the Policy Date - this does not limit the coverage described in Items 3b, 8, 17 and 19 of Covered Title Risks. 4. Failure to pay value for your title. 5. Lack of a right: (a) to any land outside the area specifically described and referred to in Item 3 of Schedule A or (b) in streets, alleys, or waterways that touch your land. 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OS Li'♦ II 13381S1. -I-WIN-3--..- L191 ■ erWe' ■' 9 Q 0 ;M I� CD r- CRl d1 0 0 Fidelity National Title Company PRELIMINARY REPORT In response to the application for a policy of title insurance referenced herein, Fidelity National Title Company hereby reports that it is prepared to issue, or cause to be issued, as of the date hereof, a Policy or Policies of Title Insurance describing the land and the estate or interest therein hereinafter set forth, insuring against loss which may be sustained by reason of any defect, lien or encumbrance not shown or referred to as an Exception below or not excluded from coverage pursuant to the printed Schedules, Conditions and Stipulations of said Policy forms. The printed Exceptions and Exclusions from the coverage of said Policy or Policies are set forth in Exhibit A attached. Copies of the Policy forms should be read. They are available from the office which issued this report. This report (and any supplements or amendments hereto) is issued solely for the purpose of facilitating the issuance of a policy of title insurance and no liability is assumed hereby. If it is desired that liability be assumed prior to the issuance of a policy of title insurance, a Binder or Commitment should be requested. The Policy(s) of title insurance to be issued hereunder will be policy(s) of Fidelity National Title Insurance Company, a California Corporation. Please read the exceptions shown or referred to below and the exceptions and exclusions set forth in Exhibit A of this report carefully. The exceptions and exclusions are meant to provide you with notice of matters which are not covered under the terms of the title insurance policy and should be carefully considered. It is important to note that this preliminary report is not a written representation as to the condition of title and may not list all liens, defects and encumbrances affecting title to the land. OpPORlrcc Countersigned i SEAL Fidelity National Tide Company 8Y ATTEST (/ Preslaenl 1 ��,Y/f i �'�I'C1"j,�\ Secretary