This Commitment shall not be valid or binding until countersigned by a validating officer or authorized signatory.

Transcription

1 ALTA COMMITMENT FOR TITLE INSURANCE Commitment Number: 16WSS204513OP, a Nebraska corporation ( Company ), for a valuable consideration, commits to issue its policy or policies of title insurance, as identified in Schedule A, in favor of the Proposed Insured named in Schedule A, as owner or mortgagee of the estate or interest in the land described or referred to in Schedule A, upon payment of the premiums and charges and compliance with the Requirements; all subject to the provisions of Schedules A and B and to the Conditions of this Commitment. This Commitment shall be effective only when the identity of the Proposed Insured and the amount of the policy or policies committed for have been inserted in Schedule A by the Company. All liability and obligation under this Commitment shall cease and terminate six (6) months after the Effective Date or when the policy or policies committed for shall issue, whichever first occurs, provided that the failure to issue the policy or policies is not the fault of the Company. The Company will provide a sample of the policy form upon request. This Commitment shall not be valid or binding until countersigned by a validating officer or authorized signatory. IN WITNESS WHEREOF, has caused its corporate name and seal to be affixed by its duly authorized officers on the date shown in Schedule A. Chicago Title Insurance Company By: Attest: President Secretary Page 1

2 ORIGINATING OFFICE: Chicago Title Company, LLC South 94th Avenue, #604 Orland Park, IL Main Phone: (708) FOR SETTLEMENT INQUIRIES, CONTACT: Chicago Title and Trust Company South 94th Avenue, #604 Orland Park, IL Main Phone: (708) Main Fax: (708) Issued By: Kenneth D. Slomka, P.C S. 94th Avenue Suite 602 Orland Park, IL SCHEDULE A ORDER NO. 16WSS204513OP Property Ref.: 778 Burnham Ave ( th St. & Burnham Ave), Calumet City, IL Effective Date: June 22, Policy or (Policies) to be issued: a. ALTA Owner's Policy 2006 Proposed Insured: To Follow Policy Amount: $10, b. ALTA Loan Policy 2006 Proposed Insured:, its successors and/or assigns as their respective interests may appear Policy Amount: To Be Determined 3. The estate or interest in the land described or referred to in this Commitment is: Fee Simple 4. Title to the estate or interest in the land is at the Effective Date vested in: Michael McClellan and Tina McClellan, husband and wife, as joint tenants 5. The land referred to in this Commitment is described as follows: PARCEL 1: THE EAST 8 FEET OF LOT 1, THE EAST 8 FEET OF LOT 2 (EXTENDING 19 FEET SOUTH OF THE NORTH LINE THEREOF), THE NORTH 20 FEET OF LOT 17 AND ALL OF LOT 18 IN BLOCK 1 IN HOME GARDEN ACRES SUBDIVISION, BEING A SUBDIVISION INTO LOTS, BLOCKS, AND STREETS OF THE SOUTHEAST 1/4 OF THE NORTHEAST 1/4 OF SECTION 18, TOWNSHIP 36 NORTH, RANGE 15 EAST OF THE THIRD PRINCIPAL MERIDIAN, EXCEPTING THE RAILROAD RIGHT OF WAY, IN COOK COUNTY, ILLINOIS. PARCEL 2: LOTS 21, 22, 23 AND 24 IN BLOCK 30 IN WEST HAMMOND, A SUBDIVISION OF THE NORTH 1896 FEET OF FRACTIONAL SECTION 17, TOWNSHIP 36 NORTH, RANGE 15 EAST OF THE THIRD PRINCIPAL MERIDIAN, IN COOK COUNTY, ILLINOIS. END OF SCHEDULE A Page 2

3 Schedule B of the policy or policies to be issued will contain exceptions to the following matters unless the same are disposed of to the satisfaction of the Company: General Exceptions 1. Rights or claims of parties in possession not shown by Public Records. 2. Any encroachment, encumbrance, violation, variation, or adverse circumstance affecting the title that would be disclosed by an accurate and complete land survey of the Land. 3. Easements, or claims of easements, not shown by the Public Records. 4. Any lien, or right to a lien, for services, labor or material heretofore or hereafter furnished, imposed by law and not shown by the Public Records. 5. Taxes or special assessments which are not shown as existing liens by the Public Records. 6. We should be furnished a properly executed ALTA statement and, unless the land insured is a condominium unit, a survey if available. Matters disclosed by the above documentation will be shown specifically. 7. Note for Information: The coverage afforded by this commitment and any policy issued pursuant hereto shall not commence prior to the date on which all charges properly billed by the company have been fully paid. A Taxes for the year(s) 2015 and taxes are not yet due or payable. 1A. Note: 2015 first installment was due March 1, 2016 Note: 2015 final installment is due August 1, 2016 Perm tax# Pcl Year 1st Inst Stat 2nd Inst Stat of $1, Paid $ Unpaid of $1, Paid $ Unpaid of $3, Paid $1, Unpaid of $31, Paid Not Billed The tax records show additional payment of $24, made on first installment D 9. Assignment of Rents recorded March 1, 2007 as Document No made by Michael J. Mc Clellan and Tina N. McClellan to Commercial Funding Corp. Assigned to Bayview Loan Servicing LLC by document Page 3

4 (continued) E 10. Security interest of Bayview Loan Servicing LLC, secured party, in certain described chattels on the land, as disclosed by financing statement naming Michael J. McClellan and Tina N. McClellan as debtor and recorded May 16, 2007 as Document No Continuation recorded as document G 11. A tax lien for the amount shown and any other amounts due, in favor of the United States of America, assessed by the District Director of Internal Revenue, Michael J. and Tina N. McClellan, taxpayer, in the amount of $127,945.16, recorded on May 22, 2013 as Document No The right, if any, of the United States to redeem said Land within 120 days from the date of the Foreclosure sale, if and when held as provided for by the Federal Tax Lien Act of 1966, 26 USCA Section 7425 (d) or 28 USCA Section 2410 (c), as amended (USA named and served) H 12. Department of Justice notice of lien for fine or penalty imposed pursuant to the sentencing reform act of 1984, in the amount of $213,175.68, recorded June 27, 2014 as document The right, if any, of the United States to redeem said Land within one year from the date of the Foreclosure sale, if and when held as provided for by 28 USCA Section 2410 (c), as amended. (USA named and served) L 13. Department of Justice notice of lien for fine or penalty imposed pursuant to the sentencing reform act of 1984, in the amount of $203, recorded June 27, 2014 as document The right, if any, of the United States to redeem said Land within one year from the date of the Foreclosure sale, if and when held as provided for by 28 USCA Section 2410 (c), as amended. (USA named and served) I 14. A state tax lien for the amount $2, and any other amounts due, Illinois withholding income tax lien, Michael McClellan, taypayer, recorded on September 29, 2014 as Document No (State of Illinois named and served) M 15. A state tax lien for the amount $2, and any other amounts due, Illinois withholding income tax lien, Tina McClellan, taypayer, recorded on September 29, 2014 as Document No (State of Illinois named and served) Page 4

5 (continued) N 16. Proceedings pending case no. 14D30369 filed by Tina McClellan vs. Michael McClellan filed April 14, 2014 on a petition for dissolution of marriage. In the event title is not acquired through the mortgage foreclosure proceedings noted herein, we note the following: We should be furnished a copy of any final decree of dissolution of marriage or, in the alternative, any agreed settlement in said case (or the portion of said decree or settlement relating to the land), and this commitment is subject to such further exceptions as may then be deemed necessary B 17. Municipal Real Estate Transfer Tax Stamps (or proof of exemption) must accompany any conveyance and certain other transfers or property located in Calumet City. Please contact said municipality prior to closing for its specific requirements, which may include the payment of fees, an inspection or other approvals. J 18. The Company should be furnished a statement that there is no property manager employed to manage the Land, or, in the alternative, a final lien waiver from any such property manager. K 19. Existing unrecorded leases and all rights thereunder of the lessees and of any person or party claiming by, through or under the lessees. F 20. Covenants and restrictions (but omitting any such covenant or restriction based on race, color, religion, sex, handicap, familial status or national origin unless and only to the extent that said Covenant (A) is exempt under Chapter 42, Section 3607 of the United States Code or (B) relates to handicap but does not discriminate against handicapped persons), contained in the document recorded as Document No as modified by document which does not contain a reversionary or forfeiture clause. (Affects Parcel 1) Page 5

6 (continued) U 21. The Company has examined the proceeding in Case No. 15ch9259 to foreclose the lien recorded as Document No made by Michael J. McClellan and Tina N. McClellan to Commercial Funding Corp to secure an indebtedness in the amount of $576, Assigned to Bayview Loan Servicing LLC by instrument recorded as Document No , and notes the following: A) Judgment entered on December 10, 2015 providing that the Land be sold as provided in said judgment; B) Expiration Date of Mortgagor s Right of Redemption: waived; Note: If the Land qualifies as residential real estate, and if the purchaser at the sale is a mortgagee who is a party to the foreclosure or its nominee, and if the sale price is less than the amount required to redeem, a special right of redemption exists in the mortgagor for a period of 30 days after the order confirming the sale. Any order entered confirming a sale conducted pursuant to the judgment noted at Paragraph "A" above should include a finding that the period of redemption, if any, has expired and that no redemption has been made by the mortgagor within said period. C) Right of any interested party to have set aside, modified or reversed the judgments or orders entered in said case; D) Right of any party served by publication, or of any person claiming under said party, to appear and be heard in regard to the judgments and orders entered in said case within the time allowed by law; E) Right, if any, by reason of military service, of any person interested in the subject matter of the proceeding to redeem within the time permitted by the Servicemembers Civil Relief Act; F) Consequences of any stay, extension, composition or reorganization, after the date hereof, under any bankruptcy law of the United States; G) Rights of the United States of America to redeem the Land within the time permitted by law from any sale held pursuant to the judgment by reason of any federal lien which may presently or hereafter appear of record; H) A proper Notice of Foreclosure has been recorded June 11, 2015 as document I) Defects or additional information, if any: none Note: Report of sale filed June 30, 2016, but information not yet available in court file. Note: The proceeding may affect the rights of only those parties already properly served with process. The policy, when issued, will be subject to the rights of all other parties and interests shown in this commitment unless satisfactory disposition thereof is otherwise made. O 22. The Company may pay current year Cook County taxes when furnished an original tax bill at or before the time the Company is requested to make payments. If an original tax bill is not furnished, the Company will pay current taxes via ach payment, which results in an additional $7 duplicate tax bill fee payable to Cook County and collected from the taxpayer at closing. Page 6

7 (continued) P 23. Effective June 1, 2009, pursuant to Public Act , satisfactory evidence of identification must be presented for the notarization of any and all documents notarized by an Illinois notary public. Satisfactory identification documents are documents that are valid at the time of the notarial act; are issued by a state or federal government agency; bear the photographic image of the individual s face; and bear the individual s signature. Q 24. Effective June 1, 2009, if any document of conveyance for Cook County Residential Real Property is to be notarized by an Illinois notary public, Public Act requires the completion of a Notarial Record for each grantor whose signature is notarized. The Notarial Record will include the thumbprint or fingerprint of the grantor. The grantor must present identification documents that are valid; are issued by a state or federal government agency, or consulate; bear the photographic image of the individual s face; and bear the individual s signature. The Company will charge a fee of $25.00 per Notarial Record. R 25. The "Good Funds" section of the Title Insurance Act (215 ILCS 155/26) is effective January 1, This Act places limitations upon our ability to accept certain types of deposits into escrow. Please contact your local Chicago Title office regarding the application of this new law to your transaction. S 26. Note: The land lies within a county which is subject to the Predatory Lending Database Act (765 ILCS 77/70 et seq. as amended). A Certificate of Compliance with the act or a Certificate of Exemption therefrom must be obtained at time of closing in order for the Company to record any insured mortgage. If the closing is not conducted by the company, a certificate of compliance or a certificate of exemption must be attached to any mortgage to be recorded. Note: for Kane, Will and Peoria counties, the act applies to mortgages recorded on or after July 1, Title Insurance Agent: END OF Kenneth D. Slomka, P.C S. 94th Avenue Suite 602 Orland Park, IL Phone: (708) Fax: (708) Authorized Signatory Page 7

8 CONDITIONS 1. The term mortgage, when used herein, shall include deed of trust, trust deed, or other security instrument. 2. If the proposed Insured has or acquired actual knowledge of any defect, lien, encumbrance, adverse claim or other matter affecting the estate or interest or mortgage thereon covered by this Commitment other than those shown in Schedule B hereof, and shall fail to disclose such knowledge to the Company in writing, the Company shall be relieved from liability for any loss or damage resulting from any act of reliance hereon to the extent the Company is prejudiced by failure to so disclose such knowledge. If the proposed Insured shall disclose such knowledge to the Company, or if the Company otherwise acquires actual knowledge of any such defect, lien, encumbrance, adverse claim or other matter, the Company at its option may amend Schedule B of this Commitment accordingly, but such amendment shall not relieve the Company from liability previously incurred pursuant to paragraph 3 of these Conditions. 3. Liability of the Company under this Commitment shall be only to the named proposed Insured and such parties included under the definition of Insured in the form of policy or policies committed for and only for actual loss incurred in reliance hereon in undertaking in good faith (a) to comply with the requirements hereof, or (b) to eliminate exceptions shown in Schedule B, or (c) to acquire or create the estate or interest or mortgage thereon covered by this Commitment. In no event shall such liability exceed the amount stated in Schedule A for the policy or policies committed for and such liability is subject to the insuring provisions and Conditions and the Exclusions from Coverage of the form of policy or policies committed for in favor of the proposed Insured which are hereby incorporated by reference and are made a part of this Commitment except as expressly modified herein. 4. This Commitment is a contract to issue one or more title insurance policies and is not an abstract of title or a report of the condition of title. Any action or actions or rights of action that the proposed Insured may have or may bring against the Company arising out of the status of the title to the estate or interest or the status of the mortgage thereon covered by this Commitment must be based on and are subject to the provisions of this Commitment. 5. The policy to be issued contains an arbitration clause. All arbitrable matters when the Amount of Insurance is $2,000,000 or less shall be arbitrated at the option of either the Company or the Insured as the exclusive remedy of the parties. You may review a copy of the arbitration rules at END OF CONDITIONS Printed: 10:28 AM Page 8