Fidelity National Title Insurance Company CHIRCO TITLE AGENCY, INC. an agency for Fidelity National Title Insurance Company SCHEDULE A 1. Effective Date: September 28, 2016 at 12:00 AM 2. Policy or Policies to be issued: Amount a. Informational Commitment $1,000.00 Proposed Insured: 3. The estate or interest in the land described or referred to in this Commitment is Fee Simple. 4. Title to the Fee Simple estate or interest in the land is at the Effective Date vested in: Steven E. Smith, court-appointed receiver for James Sirakis and Ekaterini Sirakis, husband and wife 5. The land referred to in the Commitment is described as follows: Land in the City of Flint, County of Genesee, State of Michigan SEE SCHEDULE C ATTACHED HERETO Dated: September 28, 2016 Countersigned: By: Authorized Officer or Agent Schedule A
SCHEDULE B 1. Requirements: NOTE: This commitment is being issued for informational purposes only and upon our receipt of additional information, may be subject to further requirements. a. Provide us with evidence of payment of taxes due plus interest and penalties, if any, for the following: 2013 and all prior taxes Paid. 2016 Summer taxes DUE - $4,815.31, inlcudes $70.94 for street lights 2015 Summer taxes DUE - $4,713.54 2015 Winter taxes DUE - $419.62 2014 Delinquent County taxes DUE - $7,274.32 Tax Identification No. 41-21-101-045 S.E.V.: $88,900.00 Homestead: 0% b. If a legal description of the property to be insured was not furnished at the time of application, please immediately verify that the description shown covers all of the intended property. Any additions or deletions should immediately be communicated to us. c. If the improvement located on the subject land is a mobile/manufactured home, notify us immediately and this Commitment will be revised and made subject to such further requirements and exceptions as deemed necessary. 2. 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: a. Rights or claims of parties in possession not shown by the Public Records. b. Any encroachment, encumbrance, violation, variation, or adverse circumstance affecting the Title that would be disclosed by an accurate and complete survey of the Land. c. Easements or claims of easements not shown by the Public Records and existing water, mineral, oil and exploration rights. d. Any lien, or right to a lien, for services, labor, or material, heretofore or hereafter furnished, imposed by law and not shown by Public Records. e. Any and all oil, gas, mineral, mining rights and/or reservations thereof. f. Taxes or special assessments which are not shown as existing liens by the Public Records. Schedule B
SCHEDULE B (Continued) g. Unpaid water, sewer, electric or gas charges, if any, that have not been levied as taxes against the land. h. Certificate of Forfeiture of Real Property by the Genesee County Treasurer recorded in Instrument No. 201603030016862, Genesee County Records. i. Mortgage in the face amount of $152,999.00 given by James Sirakis and Ekaterini Sirakis, husband and wife to Citizens Bank dated 04/12/06 and recorded 05/03/06 in Instrument No. 200605030043308, Genesee County Records, together with Assignment of Rents as recorded in Instrument No. 200605030043309, Genesee County Records. j. Mortgage in the face amount of $75,000.00 given by James Sirakis and Ekaterini Sirakis, husband and wife to Citizens Bank dated 04/12/06 and recorded 05/05/06 in Instrument No. 200605050043755, Genesee County Records. k. Right of Way to Consumers Power Company as evidenced in Deed recorded in Liber 1164, Page 501, Genesee County Records. l. Terms and conditions for well located on adjoining property as evidenced in Deed recorded in Liber 1088, Page 269, Genesee County Records. m. Highway Easement Release as evidenced in Deed recorded in Liber 697, Page 165, Genesee County Records. n. Release of Right of Way as evidenced in Deed recorded in Liber 501, Page 133, Genesee County Records. o. Notice of Claim as evidenced in Deed recorded in Liber 1220, Page 179, Genesee County Records. p. Right of the public in and to that part of subject propert used as Lippincott Road. q. Loss or damage arising out of the failure of the legal description in Schedule A to be identical to the assessed legal description for real estate tax purposes. r. Any provisions contained in any instruments of record which provisions pertain to the transfer of divisions under Section 109(3) of the Subdivision Control Act of 1967, as amended. s. Subject to the rights of the public and of any governmental agency in any part of the land thereof taken, used or deeded for street, road or highway purposes. t. Notice to the public as recorded in Liber 2018, Page 40, Genesee County Records. Schedule B
SCHEDULE C LEGAL DESCRIPTION The land referred to in this Commitment is described as follows: PARCEL 1: Commencing at a point in the Western Road where it is intersected by the North line of the Detroit United Railway right of way, running from thence North along said Western Road 104 feet and 5 inches; thence East at a right angle to said Western Road 260 feet; thence South at a right angle to last line to the Northerly line of the right-of-way of the Detroit United Railway; thence Westerly along said right of way to the place of beginning. All lying and being on Section 21, Township 7 North, Range 7 East. PARCEL 2: Commencing at a point on the East line of Dort Highway at its intersection with North line of D.U.R. Right of Way (now Consumers Power Company) running thence North along said East line 104.5 feet; thence East at angles 260 feet to the place of beginning of this description; thence continuing East along last named line 20 feet; thence South at right angles to the North line of said D.U.R. right of way; thence Westerly along said right of way line to a point 20 feet West of last named line; thence North to place of beginning. Section 21, Town 7 North, Range 7 East. PARCEL 3: A parcel of land located in the Northwest 1/4 of Northwest 1/4 of Section 21, Town 7 North, Range 7 East, described as follows: Beginning at a point on the North line of Section 21, which is South 88 degrees 36 minutes East 573.00 feet from then Northwest corner of Section 21; thence continuing along said North line South 88 degrees 36 minutes East 49.96 feet; thence South 00 degrees 28 minutes West parallel with the West line of Section 21 a distance of 660.00 feet to a point on the North line of a Consumers Power Easement; thence along said North line of said easement North 66 degrees 23 minutes 27 seconds West 299.48 feet and North 68 degrees 31 minutes 17 seconds West 36.97 feet; thence leaving the North line of said easement North 00 degrees 28 minutes East 194.83 feet; thence North 88 degrees 36 minutes East 254.45 feet; thence North 01 degree 24 minutes East 339.22 feet to point of beginning. ALSO DESCRIBED AS: Part of the Northwest 1/4 of the Northwest 1/4 of Section 21, Town 7 North, Range 7 East, beginning at a point on the North line of said section, South 88 degrees 36 minutes East 573 feet from the Northwest corner of said section; thence continuing along said North line South 88 degrees 36 minutes East 49.96 feet; thence South 00 degrees 28 minutes West parallel with the West line of said section, 660 feet to a point of the North line of Consumers Power Company Easement; thence Northwesterly along said North line of said easement to the West line of said section; thence North 0 degrees 28 minutes East along said West line 91.76 feet; thence South 89 degrees 32 minutes East 313 feet; thence South 00 degrees 28 minutes West to a point which is North 0 degrees 28 minutes East 194.83 feet from the North line of said Consumers Power Company Easement; thence North 88 degrees 36 minutes East 254.45 feet; thence North 01 degree 24 minutes East 339.22 feet to point of beginning. Except Westerly 50 feet to be used for road purposes. Also except that part reserved for use as Lippincott Blvd. Schedule C
ALTA COMMITMENT FORM COMMITMENT FOR TITLE INSURANCE 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 www.alta.org. Conditions