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LLA-23000 & 22390 Homestead Rd, APNs 326-01-026 & 326-01-027RECORDING REQUESTED BY 13016,255 City of Cupertino WHEN RECORDED MAIL TO: REC FCC NO Recorded at the re quest of 10300 TORRE CITY OF NO RMFtEL Chicago Title insurance CoMppy RE AAVEVENUE CUPERTINO, CA 95014 MICRO RTCF SEP 18 1995 UIN 1" Am SMPF y Recorder N® EEE Ii�i ,CC�I �g 1 YC PGOR SMA M' . P- 01FI OL RECORW WITH 60V GOIJ� ( SPACE ABOVE THIS LINE FOR RECORDER'S USE) LOT LINE ADJUSTMENT ON HOMESTEAD ROAD, APN 326-1-26 & 326-1-27 DOCUMENT TITLE FOR FAST SEPARATE PAGE, PURSUANT TO GOVT. CODE 27361.6 RECORDING REQUESrED BY: City of Cupertino RETURN TO: City of Cupertino 10300 Torre Avenue Cupertino, CA 95014 .•.•:•'ir•1 • tom' D(m-ek K. 11wrter,_• Yon,• - .i • separateprcperty,to an undividedf'. :� as to i • •a• 1interest,- i�un• (Parcel A & i a �_ 11.�14„tJ��k :1@Iy 1�1;t • •'• •:'�' • i • MJ • • •.•e:F A request for a lot line adjustment between Parcels A & B, 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 frcIIn 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 18-1.202.3C 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 that 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 4—day of SAP I , 1995. IMMUMIAWNKTAM • I Imm, POINT OF BEGINNING PARCEL B & COMBINED PARCEL — L A A � is i — _•pl EXHIBIT A POINT OF COMMENMCEMENT PARCEL A I� i o. U; "; `"' S 89' S8' 30" E 254. 42' . �r = -'S :8T 58' 30' E • . 238: 'S5' 170. 84' EXISTING PARCEL A 13,212 t SQ.FT. COMBINED AREA = 26,097 t SQ.FT. EXCEPTION PARCEL "WW" VACAV- m (196M36) Dq_ o LOT LINE TO BE REMOVED 0 v; " S 89.58.30" _ E ... 94.6: C, 3 PAVING EXISTING PARCEL B 12,885 t SQ.FT. cn VACANT SITE PLAN FOR LOT LINE ADJUSTMENT HOMESTEAD @ GRANT W KIER & WRIGHT CIVIL ENGINEERS & SURVEYORS, INC. 3350 Scott Boulevard, Building 22 (408)727-6665 Santa Clara, California 95054 FAX(408)727-5641 TRUE POINT OF BEGINNING PARCEL A, B & COMBINED PARCEL DATE AUG. 10, 1995 SCALE i" = 50' DR. BY CSS JOB 94116-3 94116LLA. DWG SHEET NO. 1 OF I EXHIBIT A DESCRIPTION EXISTING PARCELS Parcel A All that certain Real Property in the City of Cupertino, County of Santa Clara, State of California, described as follows: Commencing at a point in the centerline of Homestead Road distant thereon South 890 58' 30", East 243.00 feet from nail at the intersection thereof with the centerline of Grant Road; thence South 00 43' 10" West 45.00 feet to a point on a line drawn parallel with and distant 45.00 feet southerly, measured at right angles from said centerline of Homestead Road, said last mentioned point being the True Point of Beginning of parcel of Land to be described; thence along said parallel line North 890 58' 30" West 170.84 feet; thence South 370 37' 30" East 126.93 feet; thence North 890 58' 30" West 94.6 feet until intersected by a line drawn South 00 43' 10" West from the true point of beginning; thence along the line so drawn North 00 43' 10" East 100.6 feet to the True Point of Beginning. (Legal description taken from Grant Deed recorded in Book k 286 at page 2237, Official Records, Santa Clara County) Parcel B All that certain Real Property in the City of Cupertino, County of Santa Clara, State of California, described as follows: Beginning at the point of intersection of the southerly line of Homestead Road (60.00 feet in width), with the northeasterly line of land and right of way of the Southern Pacific Company (Peninsula Railroad Company); Thence from said point of beginning South 89058'30" East along the said southerly line of Homestead Road for a distance of 254.42 feet; Thence leaving said last mentioned line and running South 0°43'10" West and parallel with the easterly line of that certain 1.451 acre tract of land described in the Deed from Permanente Cement Company, a corporation, to Don H. Bonar, et al, dated July 24, 1961, recorded August 21, 1961 in Book 5270, Page 681, Official Records, Santa Clara County Records for a distance of 15.00 feet to a 3/4 inch iron pipe set in a line which is parallel with and distant southerly 45.00 feet at right angles from the centerline of Homestead Road and the True Point of Beginning of the tract of land to be described; Thence from said True Point of Beginning continuing South 0°43'10" West and parallel with the easterly line of said 1.451 acre tract for a distant of 226.94 feet to a 3/4 inch iron pipe set in the northeasterly line of said right of way of the Southern Pacific Company; Thence North 46005'10" West along said last mentioned line for a distance of 327.33 feet to a 3/4 inch iron pipe set in a line which is parallel with and distant Southerly 45.00 feet at right angles from the said centerline of Homestead Road; f:\word\notes\94116-3. cs EXHIBIT A. Thence South 89°58'30" East along said last mentioned parallel line for a distance of 238.65 feet to the True Point of Beginning. Containing approximately 0.6216 acres, as surveyed and monumented in January, 1961 by Mark Thomas and Company, Civil Engineers and Surveyors, and being a portion of Lot 5, Section 10, Township 7 South, Range 2 West, M.D.S. & M., and a part of the San Antonio Rancho. (Legal description taken from Grant Deed recorded in Book 5592 at page 721, Official Records, County of Santa Clara) Excepting therefrom the following: That certain parcel of land designated as Parcel "WW' on that certain Map entitled, "Record of Survey, Foothill Expressway", which map was filed for record in the Office of the Recorder of Santa Clara County, State of California, on June 30, 1965 in Book 196 of Maps at pages 36 and 37. Also excepting therefrom that certain parcel of land described as Exhibit A in the Grant Deed recorded in Book K 286 at page 2237, Official Records of Santa Clara County. fAword\notes\94116-3. cs EXHIBIT A LEGAL DESCRIPTION COMBINED PARCELS All that certain Real Property in the City of Cupertino, County of Santa Clara, State of California, described as follows: Beginning at the point of intersection of the southerly line of Homestead Road (60.00 feet in width), with the northeasterly line of land and right of way of the Southern Pacific Company (Peninsula Railroad Company); Thence from said point of beginning South 89°58'30" East along the said southerly line of Homestead Road for a distance of 254.42 feet; Thence leaving said last mentioned line and running South 0043'10" West and parallel with the easterly line of that certain 1.451 acre tract of land described in the Deed from Permanente Cement Company, a corporation, to Don H. Bonar, et al, dated July 24, 1961, recorded August 21, 1961 in Book 5270, Page 681, Official Records, Santa Clara County Records for a distance of 15.00 feet to a 3/4 inch iron pipe set in a line which is parallel with and distant southerly 45.00 feet at right angles from the centerline of Homestead Road and the True Point of Beginning of the tract of land to be described; Thence from said True Point of Beginning continuing South 0°43'10" West and parallel with the easterly line of said 1.451 acre tract for a distant of 226.94 feet to a 314 inch iron pipe set in the northeasterly line of said right of way of the Southern Pacific Company; Thence North 46005'10" West along said last mentioned line for a distance of 327.33 feet to a 3/4 inch iron pipe set in a line which is parallel with and distant Southerly 45.00 feet at right angles from the said centerline of Homestead Road; Thence South 89'58'30" East along said last mentioned parallel line for a distance of 238.65 feet to the True Point of Beginning. Containing approximately 0.6216 acres, as surveyed and monumented in January, 1961 by Mark Thomas and Company, Civil Engineers and Surveyors, and being a portion of Lot 5, Section 10, Township 7 South, Range 2 West, M.D.S. & M., and a part of the San Antonio Rancho. (Legal description taken from Grant Deed recorded in Book 5592 at page 721, Official Records, County of Santa Clara) Excepting therefrom the following: That certain parcel of land designated as Parcel "WW' on that certain Map entitled, "Record of Survey, Foothill Expressway", which map was filed for record in the Office of the Recorder of Santa Clara County, State of California, on June 30, 1965 in Book 196 of Maps at pages 36 and 37. fAwo rd\notes\94116-3. cs AMERICAN LAND TITLE ASSOCIATION OWNER'S POLICY (10-17-92 ) EXHIBIT B CHICAGO TITLE INSURANCE COMPANY SUBJECT TO THE EXCLUSIONS FROM COVERAGE, THE EXCEPTIONS FROM COVERAGE CONTAINED IN SCHEDULE B AND THE CONDITIONS AND STIPULATIONS, CHICAGO TITLE INSURANCE COMPANY, a Missouri corporation, herein called the Company, insures, as of Date of Policy shown in Schedule A, against loss or damage, not exceeding the Amount of Insurance stated in Schedule A, sustained or incurred by the insured by reason of: 1. Title to the estate or interest described in Schedule A being vested other than as stated therein; 2. Any defect in or lien or encumbrance on the title; 3. Unmarketability of the title; 4. Lack of a right of access to and from the land. The Company will also pay the costs, attorneys' fees and expenses incurred in defense of the title, as insured, but only to the extent provided in the Conditions and Stipulations. In Witness Whereof, CHICAGO TITLE INSURANCE COMPANY has caused this policy to be signed and sealed as of Date of Policy shown in Schedule A, the policy to become valid when countersigned by an authorized signatory. Issued by: CHICAGO TITLE INSURANCE COMPANY 110 West Taylor Street San Jose, CA 95110 (408) 292 - 4212 CHICAGO TITLE INSURANCE COMPANY By: Preside By: Secretary ALTA Owner's Policy (10-17-92) CONDITIONS AND STIPULATIONS EXHIBIT B 1. DEFINITION OF TERMS The following terms when used in this policy mean: (a) "insured": the insured named in Schedule A, and, subject to any rights or defenses the Company would have had against the named insured, those who succeed to the interest of the named insured by operation of law as bistinguished from purchase including, but not limited to, heirs, distributees, devisees, survivors, personal representatives, next of kin, or corporate or fiduciary successors. (b) "insured claimant": an insured claiming loss or damage. (c) "knowledge" or "known": actual knowledge, not constructive knowl- edge or notice which may be imputed to an insured by reason of the public records as defined in this policy or any other records which impart construc- tive notice of matters affecting the land. (d) "land": the land described or referred to in Schedule A, and improve- ments affixed thereto which by law constitute real property. The term "land" does not include any property beyond the lines of the area described or referred to in Schedule A, nor any right, title, interest, estate or easement in abutting streets, roads, avenues, alleys, lanes, ways or waterways, but noth- ing herein shall modify or limit the extent to which a right of access to and from the land is insured by this policy. (c) Whenever the Company shall have brought an action or interposed a defense as required or permitted by the provisions of this policy, the Company may pursue any litigation to final determination by a court of competent juris- diction and expressly reserves the right, in its sole discretion, to appeal from any adverse judgment or order. (d) In all cases where this policy permits or requires the Company to prose- cute or provide for the defense of any action or proceeding, the insured shall secure to the Company the right to so prosecute or provide defense in the action or proceeding, and all appeals therein, and permit the Company to use, at its option, the name of the insured for this purpose. Whenever requested by the Company, the insured, at the Company's expense, shall give the Company all reasonable aid (i) in any action or proceeding, securing evidence, obtaining witnesses, prosecuting or defending the action or pro- ceeding, or effecting settlement, and (ii) in any other lawful act which in the opinion of the Company may be necessary or desirable to establish the title to the estate or interest as insured. If the Company is prejudiced by the failure of the insured to furnish the required cooperation, the Company's obligations to the insured under the policy shall terminate, including any liability or obliga- tion to defend, prosecute, or continue any litigation, with regard to the matter or matters requiring such cooperation. (e) "mortgage": mortgage, deed of trust, trust deed, or other security 5. PROOF OF LOSS OR DAMAGE instrument. (f) "public records": records established under state statutes at Date of Policy for the purpose of imparting constructive notice of matters relating to real property to purchasers for value and without knowledge. With respect to Section 1(a)(iv) of the Exclusions From Coverage, "public records" shall also include environmental protection liens filed in the records of the clerk of the United States district court for the district in which the land is located. (g) "unmarketability of the title": an alleged or apparent matter affecting the title to the land, not excluded or excepted from coverage, which would entitle a purchaser of the estate or interest described in Schedule A to be released from the obligation to purchase by virtue of a contractual condition requiring the delivery of marketable title. 2. CONTINUATION OF INSURANCE AFTER CONVEYANCE OF TITLE The coverage of this policy shall continue in force as of Date of Policy in favor of an insured only so long as the insured retains an estate or interest in the land, or holds an indebtedness secured by a purchase money mortgage given by a purchaser from the insured, or only so long as the insured shall lave liability by reason of covenants of warranty made by the insured in any transfer or conveyance of the estate or interest. This policy shall not continue in force in favor of any purchaser from the insured of either (i) an estate or interest in the land, or (ii) an indebtedness secured by a purchase money mortgage given to the insured. 3. NOTICE OF CLAIM TO BE GIVEN BY INSURED CLAIMANT The insured shall notify the Company promptly in writing (i) in case of any litigation as set forth in Section 4(a) below, (ii) in case knowledge shall come to an insured hereunder of any claim of title or interest which is adverse to the title to the estate or interest, as insured, and which might cause loss or dam- age for which the Company may be liable by virtue of this policy, or (iii) if title to the estate or interest, as insured, is rejected as unmarketable. If prompt notice shall not be given to the Company, then as to the insured all liability of the Company shall terminate with regard to the matter or matters for which prompt notice is required; provided, however, that failure to notify the Company shall in no case prejudice the rights of any insured under this policy unless the Company shall be prejudiced by the failure and then only to the extent of the prejudice. 4. DEFENSE AND PROSECUTION OF ACTIONS; DUTY OF INSURED CLAIMANT TO COOPERATE (a) Upon written request by the insured and subject to the options con- tained in Section 6 of these Conditions and Stipulations, the Company, at its own cost and without unreasonable delay, shall provide for the defense of an insured in litigation in which any third party asserts a claim adverse to the title or interest as insured, but only as to those stated causes of action alleging a defect, lien or encumbrance or other matter insured against by this policy. The Company shalt have the right to select counsel of its choice (subject to the right of the insured to object for reasonable cause) to represent the insured as to those stated causes of action and shall not be kable for and will not pay the fees of any other counsel. The Company will not pay any fees, costs or expenses incurred by the insured in the defense of those causes of action which allege matters not insured against by this policy. (b) The Company shall have the right, at its own cost, to institute and prosecute any action or proceeding or to do any other act which in its opinion may be necessary or desirable to establish the title to the estate or interest, as insured, or to prevent or reduce loss or damage to the insured. The Company may take any appropriate action under the terms of this policy, whether or not it shall be liable hereunder, and shall not thereby concede liability or waive any provision of this policy. If the Company shall exercise its rights under this In addition to and after the notices required under Section 3 of these Condi- tions and Stipulations have been provided the Company, a proof of loss or damage signed and sworn to by the insured claimant shall be furnished to the Company within 90 days after the insured claimant shall ascertain the facts giving rise to the loss or damage. The proof of loss or damage shall describe the defect in, or lien or encumbrance on the title, or other matter insured against by this policy which constitutes the basis of loss or damage and shall state, to the extent possible, the basis of calculating the amount of the loss or damage. If the Company is prejudiced by the failure of the insured claimant to provide the required proof of loss or damage, the Company's obligations to the insured under the policy shall terminate, including any liability or obliga- tion to defend, prosecute, or continue any litigation, with regard to the matter or matters requiring such proof of loss or damage. In addition, the insured claimant may reasonably be required to submit to examination under oath by any authorized representative of the Company and shall produce for examination, inspection and copying, at such reason- able times and places as may be designated by any authorized representative of the Company, all records, books, ledgers, checks, correspondence and memoranda, whether bearing a date before or after Date of Policy, which reasonably pertain to the loss or damage. Further, if requested by any autho- rized representative of the Company, the insured claimant shall grant its permission, in writing, for any authorized representative of the Company to examine, inspect and copy all records, books, ledgers, checks, correspon- dence and memoranda in the custody or control of a third party, which reason- ably pertain to the loss or damage. All information designated as confidential by the insured claimant provided to the Company pursuant to this Section shall not be disclosed to others unless, in the reasonable judgment of the Company, it is necessary in the administration of the claim. Failure of the insured claimantto submit for examination under oath, produce other reason- ably requested information or grant permission to secure reasonably neces- sary information from third parties as required in this paragraph shall termi- nate any liability of the Company under this policy as to that claim. 6. OPTIONS TO PAY OR OTHERWISE SETTLE CLAIMS; TERMINATION OF LIABILITY In case of a claim under this policy, the Company shall have the following additional options: (a) To Pay or Tender Payment of the Amount of Insurance. To pay or tender payment of the amount of insurance under this policy together with any costs, attorneys' fees and expenses incurred by the insured claimant, which were authorized by the Company, up to the time of payment or tender of payment and which the Company is obligated to pay. Upon the exercise by the Company of this option, all liability and obligations to the insured underthis policy, other than to make the payment required, shall terminate, including any liability or obligation to defend, prosecute, or con- tinue any litigation, and the policy shall be surrendered to the Company for cancellation. (b) To Pay or Otherwise Settle With Parties Other than the Insured or With the Insured Claimant. (i) to pay or otherwise settle with other parties for or in the name of an insured claimant any claim insured against under this policy, together with any costs, attorneys' fees and expenses incurred by the insured claimant which were authorized by the Company up to the time of payment and which the Company is obligated to pay; or (ii) to pay or otherwise settle with the insured claimant the loss or damage provided for under this policy, together with any costs, attorneys' fees and expenses incurred by the insured claimant which were authorized by the Company up to the time of payment and which the Company is obligated to paragraph. it shall do so diligently. pay. SCHEDULE A EXHIBIT B Your Ref: Escrow No. 85282AM POLICY NO. 741191 LM Premium: $2,228.12 Amount of Insurance: $550 , 000 . 00 Date of Policy: July 31, 1995 at 8 : 00 A.M. 1. Name of Insured: Derek K. Hunter Jr. Edward D. Storm, Inc., a California Corporation 2. The estate or interest in the land which is covered by this policy is: A FEE 3. Title to the estate or interest in the land is vested in: Derek K. Hunter Jr., A Married Man, as his sole and separate property, as to an undivided 50°6 interest, and Edward D. Storm, Inc., a California Corporation, as to an undivided 509s interest, as Tenants in Common 4. The land referred to in this policy is situated in the State of California, County of SANTA CLARA and is described as follows: SEE ATTACHED DESCRIPTION This Policy valid only if Schedule B is attached. ALTAOPA-02/ 11 /92-Irc SCHEDULE B EXHIBIT B Your Ref: Escrow No. 85282AM POLICY NO. 741191 LM EXCEPTIONS FROM COVERAGE This policy does not insure against loss or damage (and the Company will not pay costs, attornevs' fees or expenses) which arise by reason of: 1. Taxes for the fiscal year 1995-96, a lien not yet payable. 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. An Agreement, affecting said land, for the purposes, stated herein, upon the terms, convenants and conditions referred to therein, between the parties named herein For: Declaration of Disclosure (Applicable Contamination Discovered prior to Escrow) Dated: July 27, 1995 Executed By: Derek K. Hunter, Jr., an individual and Edward D. Storm, Inc., a California Corporation Recorded: July 31, 1995 as Instrument No. 12966895 of Official Records 4. A Deed of Trust in an original amount of: Dated: July 17, 1995 Amount: $990,000 Trustor: Edward D. Storm, Inc., a California Corporation and Derek K. Hunter Jr., as tenants in common Trustee: Chicago Title Company Beneficiary: Silicon Valley Bank Recorded: July 31, 1995 of Official Records Instrument No.: 12966896 Loan No.: None Shown A Financing Statement, given as additional security for the payment of the indebtedness secured by the Deed of Trust Recorded July 31, 1995, as Instrument No. 12966896 Debtor: Edward D. Storm, Inc., Derek K. Hunter, Jr. Secured Party: Silicon Valley Bank Filed: July 31, 1995 as Number 12966897 In The Office Of: Santa Clara County Records LM/cg ALTAGP B 1 -02/ 1 , / 92-I rc Policy No. 741191 - LM Page 1 EXHIBIT B DESCRIPTION All that certain Real Property in the City of Cupertino, County of Santa Clara, State of California, described as follows: PARCEL ONE: Commencing at a point in the centerline of Homestead Road distant thereon South 89 deg 58' 3011, East 243.00 feet from nail at the intersection thereof with the centerline of Grant Road; thence South 0 deg 43' 10" West 45.00 feet to a point on line drawn parallel with and distant 45.00 feet Southerly, measured at right angles from said centerline of Homestead Road said last mentioned point being the True Point of Beginning of Parcel of Land to be described; thence along said parallel line North 89 deg 58' 30" West, 170.84 feet; thence South 37 deg 37' 30" East 126.93 feet; thence South 89 deg 58' 3011, East 92.09 feet until intersected by a line drawn Seuth 0 deg 43' 10" West from the true point of beginning; thence along the line so drawn North 0 deg 43' 10" East 100.51 feet to the True Point of Beginning. PARCEL TWO: BEGINNING at a point in the centerline of Homestead Road, distant thereon South 890 58, 30" East 243.00 feet from the point of intersection thereof with the centerline of Grant Road; thence South 00 43' 10" West 45.00 feet to a point in a line drawn_ parallel with and distant 45.00 feet Southerly, measured at right angles from said centerline of Homestead Road; thence along said parallel line North 891, 58' 30" West 170.84 feet to the True Point of Beginning of the parcel of land to be described; thence from said True Point of Beginning along the Westerly and Southerly lines of that certain parcel of land described in the Deed to Burtis Corporation, a Delaware Corporation, recorded August 9, 1966 in Book 7468 Official Records, Page 322, Santa Clara County Records, for the two following courses and distances: South 370 37' 30" East 126.93 feet and South 890 58' 30" East 92.09 feet to the Southeasterly corner thereof; thence South 00 43' 10" West along the Southerly prolongation of the Easterly line of lands described in the Deed to said Burtis Corporation for a distance of 126.34 feet to the point of intersection thereof with the Northeasterly line of the land and right of way of the Southern Pacific Company; thence North 460 05' 10" West along said last mentioned line 278.85 feet to the Southerly corner of that certain parcel of land designated as Parcel "WWI' on that certain Map entitled, "Record of Survey Foothill Expressway", which Map was filed for record in the Office of the Recorder of the County of Santa Clara, State of California, on June 30, 1965 in Book 196 of Maps, at Pages 36 and 37; thence North 340 42' 08" East along the Southeasterly line of said Parcel ,WWI, for a distance of 40.93 feet to the Northeasterly corner thereof; thence South 890 58' 30" East and parallel with the centerline of Homestead Road for a distance of 9.53 feet to the True Point of Beginning. 1'1 r4100a 6. QA-19 1 _I.I..L•; e. N XHIBIT B ° r aA S N yy• /� jl my m to W C i .. .• x21.Y.- 40 . QC, O IE n J.96 ...1.4 rn �- I •�\r 'I�f tNit • I si�N/✓ /�•/_. Jti. _ '� I (� - . %,! •L O ���/ l� o-~--�.�}. ESMr. r so - y 1 all it �•O h. I fl. \�� `r �,.: eta N �• at wl �� I � � a •tt°o .,� S I \ I X,- C2 _ I "'YSS iU9B. Vr DRIVE <o r j D N N O\ F _ I EXHIBIT B 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 (e) 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. 4. 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 judgment or lien creditor.