ALTA Commitment (6/17/06) ALTA Commitment Form COMMITMENT FOR TITLE INSURANCE Issued by STEWART TITLE GUARANTY COMPANY, a Texas 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 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, Stewart Title Guaranty Company has caused its corporate name and seal to be affixed by its duly authorized officers on the date shown in Schedule A. Countersigned by: Senior Chairman of the Board Authorized Countersignature Vantage Point Title, Inc. Company Name Chairman of the Board Clearwater, FL 33763 City, State Page 1 of 10
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< http://www.alta.org/>. All notices required to be given the Company and any statement in writing required to be furnished the Company shall be addressed to it at P.O. Box 2029, Houston, Texas 77252. Page 2 of 10
COMMITMENT FOR TITLE INSURANCE SCHEDULE A 1. Effective Date: March 24, 2017 8:00AM 2. Policy or Policies To Be Issued: (a) A.L.T.A. Owner s Policy 2006 Amount of Insurance Proposed Insured: (b) A.L.T.A. Loan Policy 2006 Proposed Insured: 3. The estate or interest in the land described or referred to in this Commitment and covered herein is: FEE SIMPLE 4. Title to the estate or interest in said land is at the effective date hereof vested in: PROF-2013-M4 LEGAL TITLE TRUST II, BY U.S. BANK NATIONAL ASSOCIATION, AS LEGAL TITLE TRUSTEE 5. The land referred to in this Commitment is described as follows: See Appendix A Page 3 of 10
COMMITMENT FOR TITLE INSURANCE SCHEDULE B Part I The following are the requirements to be complied with: 1. If any mortgage on schedule b, part ii, shows the mortgagee to be an individual, Vantage Point Title, Inc.. requires a copy of a properly executed satisfaction of mortgage to remove the mortgage from the final title policy. Vantage Point Title, Inc. will not accept a copy of a payoff check to clear title. 2. If the transaction to be insured is a deed transfer, VPT - Default Services requires that a notice of availability be executed by the buyers. 3. If the lender requires that Vantage Point Title, Inc.. Issue a long form ALTA title policy and give survey coverage, the lender must provide VPT - Default Services, with the date of the most current survey and the name of the surveyor. 4. Per state guidelines, in order for Vantage Point Title, Inc. to delete the survey exception on the final standard policy and/or issue a survey endorsement with the policy, the following are needed if there have been any improvements to the property since the last survey was completed: a) Affidavit and indemnity agreement (owner's affidavit); and b) A new survey in the borrower's name. If no improvements have been made to the property since the last survey was completed, Vantage Point Title, Inc. will accept a standard survey affidavit with no survey copy requirement. 5. In order to receive a reissue rate, you must provide a copy of the owner's policy for the current owner prior to closing. If the owner's policy is not available you can receive a substitution rate by supplying a prior loan policy given to the same lender. If neither are available, then a basic rate will be given. 6. Evidence must be furnished from any taxing authority having jurisdiction of the property that there are no pending assessments or liens against the property not shown by public records. 7. A satisfaction of Mortgage from Gerald J. Rogers and Dorothy A. Rogers (borrower) dated November 11, 2005 and filed on November 30, 2005 in (book) 5055 (page) 245, of the official property records of Dorchester County, South Carolina in the amount of $639,000.00 and in favor of Mortgage Electronic Registration Systems, Inc. as nominee for Novastar Mortgage, Inc. (lender). NOTE: Assignment of Mortgage to PROF-2013-M4 Legal Title Trust, by U.S. Bank National Association, as Legal Title Trustee (assignee) from Citibank, N.A. as Trustee for CMLTI Asset Trust (assignor) dated January 13, 2017 recorded January 30, 2017 in Book 10635, Page 142. 8. FURNISH PROOF, SATISFACTORY TO THE COMPANY, FROM THE CONDOMINIUM/HOMEOWNER S ASSOCIATION THAT IS HAS APPROVED THE SALE TO THE PROPOSED PURCHASER(S), IF APPLICABLE; AND THAT ALL CONDOMINIUM/HOMEOWNER S ASSOCIATION FEES AND ASSESSMENTS HAVE BEEN PAID IN FULL; AND THAT THERE ARE NO DELINQUENCIES. 9. We required a Deed from PROF-2013-M4 LEGAL TITLE TRUST II, BY U.S. BANK NATIONAL ASSOCIATION, AS LEGAL TITLE TRUSTEE in favor of TBD. Schedule B I Page 4 of 10
COMMITMENT FOR TITLE INSURANCE SCHEDULE B Part II Schedule B of the policy or policies to be insured will contain exceptions to the following matters unless the same are disposed of to the satisfaction of the Company: 1. Defects, liens, encumbrances, adverse claims or other matters, if any, created, first appearing in the public records or attaching subsequent to the Effective Date but prior to the date the proposed Insured acquires for value of record the estate or interest or mortgage thereon covered by the Commitment. 2. Facts which would be disclosed by an accurate and comprehensive survey of the premises herein described. 3. Rights or claims of parties in possession. 4. Construction, mechanic s, contractors or materialmen s lien claims, if any, where no notice thereof appears of record. 5. Easements or claims of easements not shown by the public records. 6. Any adverse ownership claim by the state of SC by right of sovereignty to any portion of the lands insured hereunder, including submerged, filled and artificially exposed lands and lands accredited to such lands. 7. State road right reservation(s), if any. 8. Oil, gas and mineral right reservations, if any. 9. Any lien arising, in favor of any city, town, village or port authority for unpaid service charges for service by any water system, sewer system or gas system servicing the lands described herein. 10. Lands lie within various county special assessment districts and municipal taxing districts and are subject to liens for any unpaid special assessments by virtue of the ordinances and resolutions creating these districts. The special assessments are payable with the ad valorem taxes. 11. Covenants, conditions, restrictions, easements and reservations or leases of minerals or mineral rights, if any, appearing of public record. This policy insures that the use of the land for residential one to four family dwelling purposes is not affected or impaired by reason of the aforementioned matters. 12. Subject to Declaration of Covenants, Restrictions and Limitations for Coosaw Creek Country Club and Provisions for The Coosaw Creek Owners' Association, Inc. dated November 11, 1991, filed for record December 11, 1991 in Book 926, at page 195 in the R.M.C. Office for Dorchester County, South Carolina; First Supplement to Coosaw Creek Country Club Declaration of Covenants, Restrictions and Limitations and Provisions for Membership in Coosaw Creek Owners' Association, Inc. dated April 1, 1992, and duly recorded in the R.M.C. Office for Dorchester County, South Carolina, on April 3, 1992, in Book 970, at Page 345; Second Supplement to Coosaw Creek Country Club Declaration of Covenants, Restrictions and Limitations and Provisions for Membership in Coosaw Creek Owners' Association, Inc. dated October 10, 1994, recorded in the R.M.C. Office for Dorchester County, South Carolina, on October 20, 1994, in Book 1388, at Page 190; Third Supplement to Coosaw Creek Country Club Declaration of Covenants, Restrictions and Limitations and Provisions for Membership in Coosaw Creek Owners' Association, Inc. dated July 26, 1995, recorded in the R.M.C. Office for Dorchester County, South Carolina, on August 1, 1995, in Book 1482, Page 112; Fourth Supplement to Coosaw Creek Country Club Declaration of Covenants, Restrictions and Limitations and Provisions for Membership in Coosaw Creek Owners' Association, Inc. dated September 25, 1995, recorded in the R.M.C. Office for Dorchester County, South Carolina, on September 27, 1995, in Book 1507, Page 122, but omitting any covenant, condition or restriction, if any, based on race, color, religion, sex, handicap, familial status, or national origin unless and only to the extent that the covenant, condition or Schedule B II Page 5 of 10
restriction (a) is exempt under Title 42 of the United States Code, or (b) relates to handicap, but does not discriminate against handicapped persons. 13. Subject to all matters shown on Plat entitled in part: "Final Plat Showing a 28.876 Acre Tract of Land Being Subdivided Into Lots 200 Thru 211, 213 Thru 230, 309 Thru 312, and 319 Thru 334, Phase II-B, Coosaw Creek Country Club, Property of Greenwood Development Corporation, Located in the City of North Charleston, Dorchester County, South Carolina", prepared by George A.Z. Johnson, Jr., Inc., Land Surveyors, dated June 14, 1995, recorded in the R.M.C. Office for Dorchester County, South Carolina, on July 18, 1995, in Plat Cabinet I, at Slide 399. 14. Subject to all matters shown on a Plat entitled "Final Plat Showing The Adjustment of Property Lines Between Lots 206, 207 and 208 Coosaw Creek Country Club To Create New Lots 206A and 208A Located in the City of North Charleston, Dorchester County, South Carolina" prepared by George A. Z. Johnson Jr., Inc. recorded in the RMC Office for Dorchester County, South Carolina, in Plat Cabinet J at Page 35. 15. Subject to Easement and Right-Of-Way granted to Dorchester County by instrument recorded June 24, 1985 in Deed Book 540, at page 297 in the R.M.C. Office for Dorchester County, South Carolina. 16. Subject to Easement from Greenwood Development Corporation to South Carolina Electric & Gas Company dated October 29, 1990, filed for record December 28, 1990 in Book 821, at page 5 in the R.M.C. Office for Dorchester County, South Carolina. 17. Subject to Indenture to South Carolina Electric & Gas Company recorded March 2, 1992, in the R.M.C. Office for Dorchester County, South Carolina, in Book 955, at Page 29. 18. Subject to Right-of-Way Easement to Southern Bell Telephone & Telegraph Company recorded August 19, 1992, in the R.M.C. Office for Dorchester County, South Carolina, in Book 1029, at Page 232. 19. Subject to Right-of-Way Easement to Southern Bell Telephone & Telegraph Company recorded August 19, 1992, in the R.M.C. Office for Dorchester County, South Carolina, in Book 1029, at Page 235. 20. Subject to Deed, Water-Sewer Lines, Coosaw Creek Country Club Clubhouse & Amenities to Dorchester County dated June 11, 1993, recorded in the R.M.C. Office for Dorchester County, South Carolina on July 6, 1993, in Book 1167, Page 286. 21. Subject to Title to Water & Sewer Systems to Dorchester County Council dated July 12, 1993, recorded in the R.M.C. Office for Dorchester County, South Carolina, in Book 1171, at Page 119. 22. Subject to Deed, Water-Sewer Lines, Coosaw Creek Country Club, dated October 7, 1994, recorded in the R.M.C. Office for Dorchester County, South Carolina, on October 11, 1994, in Book 1385, Page 276. 23. Subject to Ingress and Egress Easement by Greenwood Development Corporation dated February 6, 1995, recorded in the R.M.C. Office for Dorchester County, South Carolina, on February 10, 1995, in Book 1424, Page 217. 24. Subject to Deed, Water-Sewer Lines Coosaw Creek Country Club, Phase II-B, recorded July 18, 1995, in the R.M.C. Office for Dorchester County, South Carolina, in Book 1476, Page 148. 25. Subject to Grant of Easement, Utility Easements at Coosaw Creek Country Club, Phase II-B dated June 22, 1995, recorded in the R.M.C. Office for Dorchester County, South Carolina in Book 1476, Page 150. 26. Subject to Consent to Application of S.C. Uniform Act Regulating Traffic by Greenwood Development Corporation dated April 6, 1995, recorded in the R.M.C. Office for Dorchester County, South Carolina on April 26, 1995, in Book 1448, Page 181. 27. Subject to the existence of a Condominium/Homeowner s Association relating to the subject property. Also subject to said Association s rules and regulations, including but not limited to the approval of sale to proposed purchaser(s), if applicable, and also subject to said Association s current and future fees and assessments relating to the subject property. Page 6 of 10
28. Interests created by, or limitations on use imposed by the Federal Coastal Zone Management Act or other Federal law or regulation, or by South Carolina Code Section 48-39-10 et. seq., as amended or any regulation promulgated pursuant to said state or federal law. Page 7 of 10
Note: The following is for informational purposes only and will not appear in the policy to be issued hereunder: The following deed(s) affecting the land described in Schedule A hereof cover a minimum twenty four month period prior to the effective date of this commitment: Deed Type: Deed In Lieu Grantors: DOROTHY A. ROGERS AND GERALD J. ROGERS, WIFE AND HUSBAND Grantees: PROF-2013-M4 LEGAL TITLE TRUST II, BY U.S. BANK NATIONAL ASSOCIATION, AS LEGAL TITLE TRUSTEE Dated: March 31, 2017 Recorded Date: April 19, 2017 Consideration: BOOK: 10760 PAGE: 293-298 Instrument: 2017010039 Deed Type: Quit Claim Deed Grantors: Dorothy A. Rogers Grantees: Dorothy A. Rogers and Gerald J. Rogers Dated: November 1, 2005 Recorded Date: November 30, 2005 Consideration: $5.00 BOOK: 5055 PAGE: 242 Instrument: Deed Type: Individual Deed Grantors: Gerald J. Rogers Grantees: Dorothy A. Rogers Dated: October 31, 2001 Recorded Date: December 10, 2001 Consideration: $5.00 BOOK: 2916 PAGE: 5 Instrument: Deed Type: Individual Deed Grantors: Dorothy A. Rogers Grantees: Dorothy A. Rogers and Gerald J. Rogers Dated: September 14, 2001 Recorded Date: October 17, 2001 Consideration: $5.00 BOOK: 2855 PAGE: 74 Instrument: Page 8 of 10
Deed Type: Title to Real Estate Grantors: Annie Van Gendt Grantees: Dorothy A. Rogers Dated: December 29, 1997 Recorded Date: December 31, 1997 Consideration: $71,000.00 BOOK: 1876 PAGE: 81 Instrument: Open Bankruptcy Cases: None Page 9 of 10
COMMITMENT FOR TITLE INSURANCE APPENDIX A All that certain lot, piece or parcel of land together with any and all improvements thereon, situate, lying and being in the County of Dorchester, City of North Charleston, State of South Carolina, known and designated as new Lot 206-A on a Plat entitled "Final Plat Showing The Adjustment of Property Lines Between Lots 206, 207 and 208 Coosaw Creek Country Club To Create New Lots 206A and 208A Located in the City of North Charleston, Dorchester County, South Carolina" prepared by George A. Z. Johnson Jr., Inc. recorded in the RMC Office for Dorchester County, South Carolina, in Plat Cabinet J at Page 35 on 12/17/1997. Said lot having such size, shape, dimensions, buttings and boundings as will by reference to said plat more fully appear. Being the same property conveyed to PROF-2013-M4 LEGAL TITLE TRUST II, BY U.S. BANK NATIONAL ASSOCIATION, AS LEGAL TITLE TRUSTEE by Deed in Lieu of Foreclosure dated 3/31/2017 and recorded 4/19/2017, in Deed Book 10760 at Page 293, in the RMC Office for Dorchester County, South Carolina. Commonly Known As: 4137 Club Course Drive, North Charleston, SC 29420 Parcel ID: 172-02-03-003.000 Appendix A Page 10 of 10