GT Commitment Supplemental No. 1American Land Title Association Commitment for Title Insurance
File No: 67573 2021 v. 01.00 (07-01-2021)
This page is only a part of a 2021 ALTA Commitment for Title Insurance issued by Old Republic National Title Insurance Company.
This Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A;
Schedule B, Part I—Requirements; and Schedule B, Part II—Exceptions; and a counter-signature by the Company or its issuing
agent that may be in electronic form.
Copyright 2021 American Land Title Association. All rights reserved.
The use of this Form (or any derivative thereof) is restricted to ALTA licensees and
ALTA members in good standing as of the date of use. All other uses are prohibited.
Reprinted under license from the American Land Title Association.
Transaction Identification Data for which the Company assumes no liability as set forth in Commitment Condition 5.e:
Issuing Agent:Guaranty Commercial Title, Inc.
Underwriter:Old Republic National Title Insurance Company
Issuing Office’s
ALTA® Registry ID:
1039435
Loan ID Number:4486
Issuing Office File
Number:
67573
Property Address:575 and 591 78th Street W, Chanhassen, MN 55317-9677
Revision Number:1
SCHEDULE A
1.Commitment Date: June 03, 2024, 8:00 AM
2.Policy to be issued:
(a)2021 ALTA® Owners Policy
Proposed Insured: Roers Chanhassen Bennett Apartments Owner LLC, a Delaware limited
liability company
Proposed Amount of Insurance: $13,500,000.00
(b)2021 ALTA® Loan Policy
Proposed Insured: TBD
Proposed Amount of Insurance: $TBD
3.The estate or interest in the Land at the Commitment Date is:Fee Simple
4.The Title is, at the Commitment Date, vested in: Chanhassen Lodging, LLC, a Minnesota limited
liability company
5.The Land is described as follows:
SEE ATTACHED EXHIBIT "A"
Countersigned
Guaranty Commercial Title, Inc.
By:
Authorized Signatory
American Land Title Association Commitment for Title Insurance
File No: 67573 2021 v. 01.00 (07-01-2021)
This page is only a part of a 2021 ALTA Commitment for Title Insurance issued by Old Republic National Title Insurance Company.
This Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A;
Schedule B, Part I—Requirements; and Schedule B, Part II—Exceptions; and a counter-signature by the Company or its issuing
agent that may be in electronic form.
Copyright 2021 American Land Title Association. All rights reserved.
The use of this Form (or any derivative thereof) is restricted to ALTA licensees and
ALTA members in good standing as of the date of use. All other uses are prohibited.
Reprinted under license from the American Land Title Association.
EXHIBIT "A"
Lot 1, Block 1, Bloomberg 2nd Addition, except that part contained within the plat of Frontier
Cinema Addition, Carver County, Minnesota.
And
Lot 1, Block 1, Bloomberg Addition and Outlots A and B, Bloomberg Addition, Carver County,
Minnesota.
And
Lot 2, Block 1, Bloomberg 2nd Addition, EXCEPT the West 90.00 feet of the South 13.50 feet
thereof; and further excepting the East 60.00 feet of the West 150.00 feet of the South 3.50 feet
thereof, Carver County, Minnesota.
(Abstract Property)
American Land Title Association Commitment for Title Insurance
2021 v. 01.00 (07-01-2021)
This page is only a part of a 2021 ALTA Commitment for Title Insurance issued by Old Republic National Title Insurance Company.
This Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A;
Schedule B, Part I—Requirements; and Schedule B, Part II—Exceptions; and a counter-signature by the Company or its issuing
agent that may be in electronic form.
Copyright 2021 American Land Title Association. All rights reserved.
The use of this Form (or any derivative thereof) is restricted to ALTA licensees and
ALTA members in good standing as of the date of use. All other uses are prohibited.
Reprinted under license from the American Land Title Association.
SCHEDULE B, PART I - Requirements
All of the following Requirements must be met:
1.The Proposed Insured must notify the Company in writing of the name of any party not referred to in this
Commitment who will obtain an interest in the Land or who will make a loan on the Land. The Company
may then make additional Requirements or Exceptions.
2.Pay the agreed amount for the estate or interest to be insured.
3.Pay the premiums, fees, and charges for the Policy to the Company.
4.Documents satisfactory to the Company that convey the Title or create the Mortgage to be insured, or
both, must be properly authorized, executed, delivered, and recorded in the Public Records.
5.Deed of conveyance from Chanhassen Lodging, LLC, a Minnesota limited liability company, to
Roers Chanhassen Bennett Apartments Owner, LLC, a Delaware limited liability company.
6.Mortgage to secure your loan.
7.Mortgage, Security Agreement and Assignment of Rents and Leases dated March 30, 2017, filed
March 31, 2017, as Document No. A643220, to secure indebtedness in the amount of $8,500,000.00
and any other sums which may become due and payable under the terms thereof, executed by
Chanhassen Lodging, LLC, a Minnesota limited liability company, as mortgagor, to Home Federal
Savings Bank, as mortgagee.
Satisfaction, release or subordination is required.
8.Terms and conditions of a Subordination Agreement Lease dated March 30, 2017, filed March 31,
2017 as Document No. A643221, by and among Chanhassen Lodging, LLC, a Minnesota limited
liability company, the landlord, and High Timbers Lounge, LLC, a Minnesota limited liability
company, the lessee, and Home Federal Savings Bank, the lender, referring to that certain
unrecorded lease by and between Chanhassen Lodging, LLC, as lessor, and High Timbers Lounge,
LLC, as lessee, dated June 01, 2007.
Termination of the Subordination Agreement is required, and termination of the unrecorded lease is
also required.
9.Mortgage dated February 22, 2018, filed February 23, 2018, as Document No. A658640, to secure
indebtedness in the amount of $150,000.00 and any other sums which may become due and payable
under the terms thereof, executed by Chanhassen Lodging, LLC, a Minnesota limited liability
company, as mortgagor, to Home Federal Savings Bank, as mortgagee.
Satisfaction, release or subordination is required.
10.Assignment of Rents dated February 22, 2018, filed February 23, 2018, as Document No. A658641,
executed by Chanhassen Lodging, LLC, a Minnesota limited liability company, as assignor, to Home
Federal Savings Bank, as assignee.
Satisfaction, release or subordination is required.
American Land Title Association Commitment for Title Insurance
2021 v. 01.00 (07-01-2021)
This page is only a part of a 2021 ALTA Commitment for Title Insurance issued by Old Republic National Title Insurance Company. This
Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part
I—Requirements; and Schedule B, Part II—Exceptions; and a counter-signature by the Company or its issuing agent that may be in electronic
form.
Copyright 2021 American Land Title Association. All rights reserved.
The use of this Form (or any derivative thereof) is restricted to ALTA licensees and
ALTA members in good standing as of the date of use. All other uses are prohibited.
Reprinted under license from the American Land Title Association.
11.Intentionally Deleted. Restrictions, covenants and conditions contained in Contract for Private
Redevelopment by and between The Housing and Redevelopment Authority in and for the City of
Chanhassen and Bloomberg Companies Incorporated, dated November 14, 1996, recorded
September 26, 1997, as Document No. 216276, which contains no forfeiture provision.
Termination is required. Use Document No. 387159 as an example.
Released by Document No. 770450.
12.Intentionally Deleted. Restrictions, covenants and conditions contained in Contract for Private
Redevelopment by and between The Housing and Redevelopment Authority in and for the City of
Chanhassen and National Lodging Companies, Inc., dated June 02, 1995, recorded June 06, 1995 as
Document No. 180977, which contains no forfeiture provision.
Termination is required. Use Document No. 387159 as an example.
Released by Document No. 770451.
13.In order to comply with federal reporting requirements, please provide us with the Sellers’ federal
tax id number or social security number prior to closing. FIRPTA and/or 1099 forms, as applicable,
will be required at closing.
American Land Title Association Commitment for Title Insurance
2021 v. 01.00 (07-01-2021)
This page is only a part of a 2021 ALTA Commitment for Title Insurance issued by Old Republic National Title Insurance Company. This
Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part
I—Requirements; and Schedule B, Part II—Exceptions; and a counter-signature by the Company or its issuing agent that may be in electronic
form.
Copyright 2021 American Land Title Association. All rights reserved.
The use of this Form (or any derivative thereof) is restricted to ALTA licensees and
ALTA members in good standing as of the date of use. All other uses are prohibited.
Reprinted under license from the American Land Title Association.
SCHEDULE B, PART II - Exceptions
Some historical land records contain Discriminatory Covenants that are illegal and unenforceable by law.
This Commitment and the Policy treat any Discriminatory Covenant in a document referenced in Schedule B
as if each Discriminatory Covenant is redacted, repudiated, removed, and not republished or recirculated.
Only the remaining provisions of the document will be excepted from coverage.
The Policy will not insure against loss or damage resulting from the terms and conditions of any lease or easement
identified in Schedule A, and will include the following Exceptions unless cleared to the satisfaction of the Company:
1.Any defect, lien, encumbrance, adverse claim, or other matter that appears for the first time in the Public
Records or is created, attaches, or is disclosed between the Commitment Date and the date on which all of
the Schedule B, Part I—Requirements are met.
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.Rights or claims of parties in possession not shown by the Public Records.
4.Easements, or claims of easement, not shown by the Public Records.
5.Any lien, or right to lien, for services, labor or material heretofore or hereafter furnished, imposed
by law and not shown by the Public Records.
6.Taxes due and payable in 2023 and prior years are paid. Taxes due and payable in 2024 in the total
amount of $16,828.00 (Base tax $16,696.00) are one-half paid on PID No. 25.1180010.
Non-Homestead. (Lot 1, Block 1, Bloomberg 2nd Addition)
Taxes due and payable in 2023 and prior years are paid. Taxes due and payable in 2024 in the total
amount of $54,000.00 (Base tax $53,868.00) are one-half paid on PID No. 25.1180020.
Non-Homestead. (Part of Lot 2, Block 1, Bloomberg 2nd Addition)
Taxes due and payable in 2023 and prior years are paid. Taxes due and payable in 2024 in the total
amount of $144,476.00 (Base tax $144,344.00) are one-half paid on PID No. 25.1190010.
Non-Homestead. (Lot 1, Block 1, Bloomberg Addition)
Taxes due and payable in 2023 and prior years are paid. Taxes due and payable in 2024 in the total
amount of $13,090.00 (Base tax $13,090.00) are one-half paid on PID No. 25.1190030.
Non-Homestead. (Outlot A, Bloomberg Addition)
Taxes due and payable in 2023 and prior years are paid. Taxes due and payable in 2024 in the total
amount of $502.00 (Base tax $502.00) are one-half paid on PID No. 25.1190040. Non-Homestead.
(Outlot B, Bloomberg Addition)
NOTE: This commitment does not cover utility bills against the subject property that are not shown
on current taxes or assessment searches.
NOTE: Special assessment search indicates hazardous and solid waste fees are being collected
with each years taxes.
American Land Title Association Commitment for Title Insurance
2021 v. 01.00 (07-01-2021)
This page is only a part of a 2021 ALTA Commitment for Title Insurance issued by Old Republic National Title Insurance Company. This
Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part
I—Requirements; and Schedule B, Part II—Exceptions; and a counter-signature by the Company or its issuing agent that may be in electronic
form.
Copyright 2021 American Land Title Association. All rights reserved.
The use of this Form (or any derivative thereof) is restricted to ALTA licensees and
ALTA members in good standing as of the date of use. All other uses are prohibited.
Reprinted under license from the American Land Title Association.
7.Utility easement(s) over the Land as shown on the recorded plat of Bloomberg Addition.
8.Easement for trunk highway purposes, right to construct snow fences on lands adjacent to said
highway and right to limit access to said Trunk Highway, in favor of the State of Minnesota, as set
forth in Final Certificate, dated March 2, 1956, filed of record July 21, 1956, in Book L of Misc., Page
466, and as transferred to the County of Carver by Quit Claim Deed dated October 30, 1973, filed
December 11, 1973, in Book 115 of Deeds, Page 264, as Document No. 21067, and as transferred to
the City of Chanhassen by Carver County Resolutions filed December 6, 1989, as Document Nos.
110464 and 110465.
As affected by Chanhassen City Council Resolution No. 2007-40, vacating snow fence and highway
maintenance easement at Country Inn & Suites, filed August 15, 2007, as Document No. A469961.
9.Public right-of-way, street and utility easement(s) over the Land in favor of City of Chanhassen, as
created in Easement dated August 26, 1976, filed August 30, 1976, as Document No. 30098.
As partially vacated by City of Chanhassen Resolution 2007-29, filed June 7, 2007, as Document No.
A465723.
10.Public utilities, street right-of-way and drainage easement(s) over the Land in favor of City of
Chanhassen, as created in Easement Agreement dated July 31, 1987, filed July 28, 1988, as
Document No. 97955.
11.Terms and conditions of Easement Declaration made by Bloomberg Companies Incorporated, a
Minnesota corporation, dated December 5, 1989, filed December 6, 1989, as Document No. 110472.
12.Terms and conditions of Declaration of Easement made by Bloomberg Companies Incorporated, a
Minnesota corporation, dated December 5, 1989, filed December 6, 1989, as Document No. 110473.
13.Terms and conditions of Easement Declaration made by Bloomberg Companies Incorporated, a
Minnesota corporation, dated October 24, 1990, filed October 30, 1990, as Document No. 119111.
As amended by Easement Declaration (First Amendment) made by Bloomberg Companies
Incorporated, a Minnesota corporation, dated July 18, 1997, filed July 24, 1997, as Document No.
213640.
As amended by Amendment No. 2 to Easement Declaration (Hotel Cross Access Easement) by and
among Chanhassen Frontier LLC, a Delaware limited liability company, Chanhassen Lodging, LLC, a
Minnesota limited liability company, and ALDI INC. (Minnesota), a Minnesota corporation, dated May
25, 2018, filed May 30, 2018, as Document No. A662700.
14.Terms and conditions of Covenant Agreement by and between City of Chanhassen, a Minnesota
municipal corporation, and National Lodging Companies, Inc., a Minnesota corporation, dated
December 19, 1995, filed February 09, 1996, as Document No. 191011.
Partial Release of Covenant Agreement dated March 3, 2004, filed May 20, 2004, as Document No.
A387160.
American Land Title Association Commitment for Title Insurance
2021 v. 01.00 (07-01-2021)
This page is only a part of a 2021 ALTA Commitment for Title Insurance issued by Old Republic National Title Insurance Company. This
Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part
I—Requirements; and Schedule B, Part II—Exceptions; and a counter-signature by the Company or its issuing agent that may be in electronic
form.
Copyright 2021 American Land Title Association. All rights reserved.
The use of this Form (or any derivative thereof) is restricted to ALTA licensees and
ALTA members in good standing as of the date of use. All other uses are prohibited.
Reprinted under license from the American Land Title Association.
15.Terms and conditions of Easement Agreement for Wall and Roof Maintenance by and among
Bloomberg Companies Incorporated, a Minnesota corporation, Chanhassen Suites, LLC, a
Minnesota limited liability company, and Chanhassen Properties, LLC, a Minnesota limited liability
company, dated July 18, 1997, filed July 24, 1997, as Document No. 213638.
16.Terms and conditions of Access Easement Agreement by and between Market Street Station, LLC, a
Minnesota limited liability company, and Bloomberg Companies Incorporated, a Minnesota
corporation, dated April 07, 2004, filed May 20, 2004, as Document No. A387172.
17.Terms and conditions of Temporary Construction Easement and Maintenance Agreement by and
between Chanhassen Suites, LLC, a Minnesota limited liability company, and Market Street Station,
LLC, a Minnesota limited liability company, dated August 25, 2004, filed January 13, 2005, as
Document No. A405624.
18.Terms and conditions of Easement and Maintenance Agreement by and between Chanhassen
Suites, LLC, a Minnesota limited liability company, and Market Street Station, LLC, a Minnesota
limited liability company, dated August 26, 2005, filed September 02, 2005, as Document No.
A422937.
As affected by the terms and conditions of Encroachment Agreement by and among the City of
Chanhassen, Market Street Station, LLC, a Minnesota limited liability company, and Chanhassen
Suites, LLC, a Minnesota limited liability company, dated August 26, 2005, filed October 13, 2005, as
Document No. A426220, and filed again October 19, 2005, as Document No. A426721.
19.Drainage and utility easement(s) over the Land in favor of City of Chanhassen, as created in Grant of
Permanent Easement for Public Drainage & Utility Purposes, dated April 9, 2007, filed June 7, 2007,
as Document No. A465722.
20.Terms and conditions of Access Easement Agreement (West Drive Lane) by and among Chanhassen
Frontier LLC, a Delaware limited liability company, Chanhassen Properties, LLC, a Minnesota limited
liability company, Chanhassen Lodging, LLC, a Minnesota limited liability company, and ALDI Inc.
(Minnesota), a Minnesota corporation, dated May 25, 2018, filed May 30, 2018, as Document No.
A662707.
INFORMATIONAL NOTE: Fee owner took title by vesting deed Document No. A465730 and A465731.
This commitment was prepared by Matthew Foli. If there are any questions or requests, please contact
your Closer, Maile Ott, at mott@guarantytitle.net / 612-746-0417 and Assistant Closer, Tristan Bell, at
tbell@guarantytitle.net.
American Land Title Association Commitment for Title Insurance
File: 67573 2021 v. 01.00 (07-01-2021)
This page is only a part of a 2021 ALTA Commitment for Title Insurance issued by Old Republic National Title Insurance Company. This
Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part
I—Requirements; and Schedule B, Part II—Exceptions; and a counter-signature by the Company or its issuing agent that may be in
electronic form.
Copyright 2021 American Land Title Association. All rights reserved.
The use of this Form (or any derivative thereof) is restricted to ALTA licensees and
ALTA members in good standing as of the date of use. All other uses are prohibited.
Reprinted under license from the American Land Title Association.
ALTA COMMITMENT FOR TITLE INSURANCE
issued by
OLD REPUBLIC NATIONAL TITLE INSURANCE COMPANY
NOTICE
IMPORTANT—READ CAREFULLY: THIS COMMITMENT IS AN OFFER TO ISSUE ONE OR MORE TITLE
INSURANCE POLICIES. ALL CLAIMS OR REMEDIES SOUGHT AGAINST THE COMPANY INVOLVING THE
CONTENT OF THIS COMMITMENT OR THE POLICY MUST BE BASED SOLELY IN CONTRACT.
THIS COMMITMENT IS NOT AN ABSTRACT OF TITLE, REPORT OF THE CONDITION OF TITLE, LEGAL
OPINION, OPINION OF TITLE, OR OTHER REPRESENTATION OF THE STATUS OF TITLE. THE
PROCEDURES USED BY THE COMPANY TO DETERMINE INSURABILITY OF THE TITLE, INCLUDING ANY
SEARCH AND EXAMINATION, ARE PROPRIETARY TO THE COMPANY, WERE PERFORMED SOLELY FOR
THE BENEFIT OF THE COMPANY, AND CREATE NO EXTRACONTRACTUAL LIABILITY TO ANY PERSON,
INCLUDING A PROPOSED INSURED.
THE COMPANY’S OBLIGATION UNDER THIS COMMITMENT IS TO ISSUE A POLICY TO A PROPOSED
INSURED IDENTIFIED IN SCHEDULE A IN ACCORDANCE WITH THE TERMS AND PROVISIONS OF THIS
COMMITMENT. THE COMPANY HAS NO LIABILITY OR OBLIGATION INVOLVING THE CONTENT OF THIS
COMMITMENT TO ANY OTHER PERSON.
COMMITMENT TO ISSUE POLICY
Subject to the Notice; Schedule B, Part I—Requirements; Schedule B, Part II—Exceptions; and the Commitment
Conditions, Old Republic National Title Insurance Company, (the “Company”), commits to issue the Policy
according to the terms and provisions of this Commitment. This Commitment is effective as of the Commitment
Date shown in Schedule A for each Policy described in Schedule A, only when the Company has entered in
Schedule A both the specified dollar amount as the Proposed Amount of Insurance and the name of the Proposed
Insured.
If all of the Schedule B, Part I—Requirements have not been met within 180 Days after the Commitment Date, this
Commitment terminates and the Company’s liability and obligation end.
COMMITMENT CONDITIONS
1.DEFINITIONS
a.“Discriminatory Covenant”: Any covenant, condition, restriction, or limitation that under applicable law
illegally discriminates against a class of individuals based on personal characteristics such as race,
color, religion, sex, sexual orientation, gender identity, familial status, disability, national origin, or other
legally protected class.
b.“Knowledge” or “Known”: Actual knowledge or actual notice, but not constructive notice imparted by the
Public Records.
c.“Land”: The land described in Item 5 of Schedule A and improvements located on that land that by State
law constitute real property. The term “Land” does not include any property beyond that described in
Schedule A, nor any right, title, interest, estate, or easement in any abutting street, road, avenue, alley,
lane, right-of-way, body of water, or waterway, but does not modify or limit the extent that a right of
access to and from the Land is to be insured by the Policy.
d.“Mortgage”: A mortgage, deed of trust, trust deed, security deed, or other real property security
instrument, including one evidenced by electronic means authorized by law.
American Land Title Association Commitment for Title Insurance
File: 67573 2021 v. 01.00 (07-01-2021)
This page is only a part of a 2021 ALTA Commitment for Title Insurance issued by Old Republic National Title Insurance Company. This
Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part
I—Requirements; and Schedule B, Part II—Exceptions; and a counter-signature by the Company or its issuing agent that may be in
electronic form.
Copyright 2021 American Land Title Association. All rights reserved.
The use of this Form (or any derivative thereof) is restricted to ALTA licensees and
ALTA members in good standing as of the date of use. All other uses are prohibited.
Reprinted under license from the American Land Title Association.
e.“Policy”: Each contract of title insurance, in a form adopted by the American Land Title Association,
issued or to be issued by the Company pursuant to this Commitment.
f.“Proposed Amount of Insurance”: Each dollar amount specified in Schedule A as the Proposed Amount
of Insurance of each Policy to be issued pursuant to this Commitment.
g.“Proposed Insured”: Each person identified in Schedule A as the Proposed Insured of each Policy to be
issued pursuant to this Commitment.
h.“Public Records”: The recording or filing system established under State statutes in effect at the
Commitment Date under which a document must be recorded or filed to impart constructive notice of
matters relating to the Title to a purchaser for value without Knowledge. The term “Public Records” does
not include any other recording or filing system, including any pertaining to environmental remediation or
protection, planning, permitting, zoning, licensing, building, health, public safety, or national security
matters.
i.“State”: The state or commonwealth of the United States within whose exterior boundaries the Land is
located. The term “State” also includes the District of Columbia, the Commonwealth of Puerto Rico, the
U.S. Virgin Islands, and Guam.
j.“Title”: The estate or interest in the Land identified in Item 3 of Schedule A.
2.If all of the Schedule B, Part I—Requirements have not been met within the time period specified in the
Commitment to Issue Policy, this Commitment terminates and the Company’s liability and obligation end.
3.The Company’s liability and obligation is limited by and this Commitment is not valid without:
a.the Notice;
b.the Commitment to Issue Policy;
c.the Commitment Conditions;
d.Schedule A;
e.Schedule B, Part I—Requirements;
f.Schedule B, Part II—Exceptions; and
g.a counter-signature by the Company or its issuing agent that may be in electronic form.
[ELSE][ENDIF][ENDIF]
4.COMPANY’S RIGHT TO AMEND
The Company may amend this Commitment at any time. If the Company amends this Commitment to add a
defect, lien, encumbrance, adverse claim, or other matter recorded in the Public Records prior to the
Commitment Date, any liability of the Company is limited by Commitment Condition 5. The Company is not
liable for any other amendment to this Commitment.
5.LIMITATIONS OF LIABILITY
a.The Company’s liability under Commitment Condition 4 is limited to the Proposed Insured’s actual
expense incurred in the interval between the Company’s delivery to the Proposed Insured of the
Commitment and the delivery of the amended Commitment, resulting from the Proposed Insured’s good
faith reliance to:
i. comply with the Schedule B, Part I—Requirements;
ii. eliminate, with the Company’s written consent, any Schedule B, Part II—Exceptions; or
iii. acquire the Title or create the Mortgage covered by this Commitment.
b.The Company is not liable under Commitment Condition 5.a. if the Proposed Insured requested the
amendment or had Knowledge of the matter and did not notify the Company about it in writing.
c.The Company is only liable under Commitment Condition 4 if the Proposed Insured would not have
incurred the expense had the Commitment included the added matter when the Commitment was first
delivered to the Proposed Insured.
d.The Company’s liability does not exceed the lesser of the Proposed Insured’s actual expense incurred in
good faith and described in Commitment Condition 5.a.or the Proposed Amount of Insurance.
American Land Title Association Commitment for Title Insurance
File: 67573 2021 v. 01.00 (07-01-2021)
This page is only a part of a 2021 ALTA Commitment for Title Insurance issued by Old Republic National Title Insurance Company. This
Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part
I—Requirements; and Schedule B, Part II—Exceptions; and a counter-signature by the Company or its issuing agent that may be in
electronic form.
Copyright 2021 American Land Title Association. All rights reserved.
The use of this Form (or any derivative thereof) is restricted to ALTA licensees and
ALTA members in good standing as of the date of use. All other uses are prohibited.
Reprinted under license from the American Land Title Association.
e.The Company is not liable for the content of the Transaction Identification Data, if any.
f.The Company is not obligated to issue the Policy referred to in this Commitment unless all of the
Schedule B, Part I—Requirements have been met to the satisfaction of the Company.
g.The Company’s liability is further limited by the terms and provisions of the Policy to be issued to the
Proposed Insured.
6.LIABILITY OF THE COMPANY MUST BE BASED ON THIS COMMITMENT; CHOICE OF LAW AND
CHOICE OF FORUM
a.Only a Proposed Insured identified in Schedule A, and no other person, may make a claim under this
Commitment.
b.Any claim must be based in contract under the State law of the State where the Land is located and is
restricted to the terms and provisions of this Commitment. Any litigation or other proceeding brought by
the Proposed Insured against the Company must be filed only in a State or federal court having
jurisdiction.
c.This Commitment, as last revised, is the exclusive and entire agreement between the parties with respect
to the subject matter of this Commitment and supersedes all prior commitment negotiations,
representations, and proposals of any kind, whether written or oral, express or implied, relating to the
subject matter of this Commitment.
d.The deletion or modification of any Schedule B, Part II—Exception does not constitute an agreement or
obligation to provide coverage beyond the terms and provisions of this Commitment or the Policy.
e.Any amendment or endorsement to this Commitment must be in writing and authenticated by a person
authorized by the Company.
f.When the Policy is issued, all liability and obligation under this Commitment will end and the Company’s
only liability will be under the Policy.
7.IF THIS COMMITMENT IS ISSUED BY AN ISSUING AGENT
The issuing agent is the Company’s agent only for the limited purpose of issuing title insurance commitments
and policies. The issuing agent is not the Company’s agent for closing, settlement, escrow, or any other
purpose.
8.PRO-FORMA POLICY
The Company may provide, at the request of a Proposed Insured, a pro-forma policy illustrating the coverage
that the Company may provide. A pro-forma policy neither reflects the status of Title at the time that the
pro-forma policy is delivered to a Proposed Insured, nor is it a commitment to insure.
9.CLAIMS PROCEDURES
This Commitment incorporates by reference all Conditions for making a claim in the Policy to be issued to the
Proposed Insured. Commitment Condition 9 does not modify the limitations of liability in Commitment
Conditions 5 and 6.
10.CLASS ACTION
ALL CLAIMS AND DISPUTES ARISING OUT OF OR RELATING TO THIS COMMITMENT, INCLUDING
ANY SERVICE OR OTHER MATTER IN CONNECTION WITH ISSUING THIS COMMITMENT, ANY
BREACH OF A COMMITMENT PROVISION, OR ANY OTHER CLAIM OR DISPUTE ARISING OUT OF OR
RELATING TO THE TRANSACTION GIVING RISE TO THIS COMMITMENT, MUST BE BROUGHT IN AN
INDIVIDUAL CAPACITY. NO PARTY MAY SERVE AS PLAINTIFF, CLASS MEMBER, OR PARTICIPANT IN
ANY CLASS OR REPRESENTATIVE PROCEEDING. ANY POLICY ISSUED PURSUANT TO THIS
COMMITMENT WILL CONTAIN A CLASS ACTION CONDITION.
11.ARBITRATION
American Land Title Association Commitment for Title Insurance
File: 67573 2021 v. 01.00 (07-01-2021)
This page is only a part of a 2021 ALTA Commitment for Title Insurance issued by Old Republic National Title Insurance Company. This
Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part
I—Requirements; and Schedule B, Part II—Exceptions; and a counter-signature by the Company or its issuing agent that may be in
electronic form.
Copyright 2021 American Land Title Association. All rights reserved.
The use of this Form (or any derivative thereof) is restricted to ALTA licensees and
ALTA members in good standing as of the date of use. All other uses are prohibited.
Reprinted under license from the American Land Title Association.
The Policy contains an arbitration clause. All arbitrable matters when the Proposed Amount of Insurance is
$2,000,000 or less may be arbitrated at the election of either the Company or the Proposed Insured as the
exclusive remedy of the parties. A Proposed Insured may review a copy of the arbitration rules at
http://www.alta.org/arbitration.