43-25 RFP-Responses-Rock Spring Golf Course.pdf

COMMONWEALTH LAND TITLE INSURANCE COMPANY COMMITMENT NO. 19-LT-0033 COMMITMENT CONDITIONS 1. DEFINITIONS {a) "Knowledge" of "Known"; Actual or imputed knowledge, but not constructive notice imparted by the Public Records. {b) “Land”: The land described in Schedule A and affixed improvements that by law constituta real property. The term "Land" does not include any property beyond the lines of the area described in Schedule A, nor any right, itl, interest, estate, or easement in abutting streets, roads, avenues, alleys, lanes, ways, or waterways, but this does not modify or limit the extent that a right of access to and from the Land is to be insured by the Policy. (©) "Mortgage": A mortgage, deed of trust, or other security instrument, including one evidenced by electronic means authorized by law. {d) "Policy": Each contract of titfe insurance, in a form adopted by the American Land Title Association, issued or to be issued by the Company pursuant to this Commitment. {e) “Proposed Insured*: Each person identified In Schedule A as the Proposed Insured of each Policy to be issued pursuant to this Commitment. {f) "Proposed Policy Amount": Each dollar amount specified in Schedule A as the Proposed Policy Amount of each Policy to be Issued pursuant to this Commitment. {g) "Public Records": Records established under state statutes at the Commitment Date for the purpose of imparting constructive notice of matters relating to real property to purchasers for value and without Knowledge. {h) "Title": The estate or interest described in Schedule A. 2. If all of the Schedule B, Part |-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; {o) the Commitment to !ssue Policy; {c) the Commitment Conditions; (d) Schedule A; {e) Schedule B, Part -Requirements; {f} Schedule B, Part [i-Excaptions; and {g) a counter-signature by the Company or its issuing agent that may be in electronic form. 4, COMPANY'S RIGHT TO AMEND The Company may amend this Commitment at any time. If the Company amends this Commitment fo add a defect, lien, encumbrance, adverse claim, or other matter recorded in the Public Records prior to the Commitment Date, any

this Commitment at any time. If the Company amends this Commitment fo 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 shall not be liable for any other amendment to this Commitment. 5. LIMITATIONS OF LIABILITY (a) The Company's liability under Cornmitment Condition 4 is limited to the Proposed Insured's actual expense incurred in the Intarval batween 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: () comply with the Schedule B, Part Requirements; (i) eliminate, with the Company's written consent, any Schedule B, Part II-Exceptions; or (il) acquire the Title or create the Mortgage covered by this Commitment. (b) The Company shall not be 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 tt in writing. (c) The Company will only have tiability 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 ta the Proposed Insured. (4) The Company's liability shall not exceed the lesser of the Proposed Insured's actual expense incurred in good faith and described in Commitment Conditions 5(a\(i) through 5¢a)(if) or the Proposed Policy Amount. (e) The Company shall not be liable for the content of the Transaction Identification Data, if any. (In no event shall the Company be obligated to Issue the Policy referred to in this Commitment unless all of the Schedule B, Part |-Requiraments have been met tc the satisfaction of the Company. (g)_ in any event, the Company's liability is mited by the tetms and provisions of the Policy. This page is only a part of a 2016 ALTA® Commitment for Tile insurance issued by Commonwealth Land Title Insurance Company. This Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Scheduts B, Part -Requirements; Schedule 8, Part !!-Exceptions; and @ counter-signature by the Company or its Issuing agent that may be in electronic form. Copyright American Land Title Association. All

eduts B, Part -Requirements; Schedule 8, Part !!-Exceptions; and @ counter-signature by the Company or its Issuing agent that may be in electronic form. Copyright 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 undar license from the American Land Title Association, ALTA Commiiment for Title Insurance (08/01/2018) Technical Comactions 04-02-2018 Printed: 03.04.19 @ 04:09 PM NURB 3-09 (Revised 7/01/18) Page 8 NJ-CW-FXTD-01080.404974-SPS-1-18-18-T-0033