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HomeMy WebLinkAbout19- Title Insurance Policy - Private Open Space 1 of Oak Springs Sub Ph 4, Bozeman, MT 59718This page is only a part of a 2016 ALTA Commitment for Title Insurance. 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. Montana Title & Escrow, Inc. Policy Issuing Agent for Westcor Land Title Insurance Company Commitment for Title Insurance Issued by Westcor Land Title Insurance Company subject to conditions and stipulations as set forth herein Thank you for choosing Montana Title & Escrow, Inc. As Your Title Company Contact Information: 1925 N. 22nd Avenue Suite 102 Bozeman, MT 59718 Phone:(406) 587-7702 Fax:(406) 587-2891 This page is only a part of a 2016 ALTA Commitment for Title Insurance. 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. Montana Title & Escrow, Inc. Policy Issuing Agent for Westcor Land Title Insurance Company Montana Title & Escrow, Inc. COMMITMENT Commitment Issued By: Order Number: M-24756 Montana Title & Escrow, Inc. 1925 N. 22nd Avenue, Suite 102 Suite 102 Bozeman, MT 59718 Escrow Officer:Candace Elser Phone:(406)587-7702 Fax:(406) 587-2891 Escrow Officer Email:celser@montanatitle.com Email Loan Docs To:7001edocs@montanatitle.com Customer Reference: Property Address:Private Open Space #1 of Oak Springs Sub Ph 4, Bozeman, MT 59718 Title Officer:Rick Schultz Title Officer Email:rschultz@mlhc.com EXPLANATION OF CHARGES 2006 ALTA Standard Owners Policy $175.00TBD Total Estimated Charges: $175.00TBD This page is only a part of a 2016 ALTA Commitment for Title Insurance. 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. Montana Title & Escrow, Inc. Policy Issuing Agent for Westcor Land Title Insurance Company In an effort to assure that your transaction goes smoothly, please review the following checklist and contact your escrow officer or title officer if you answer "Yes" to any of the following questions: ●●Will you be using a Power of Attorney? ●●Are any of the parties in title incapacitated or deceased? ●●Has a change in marital status occurred for any of the Principals? ●●Will the property be transferred into a trust, partnership, corporation or limited liability company? ●●Has there been any construction on the property in the last 6 months? Remember, all parties signing documents must have a driver's license or other valid photo ID. It is recommended that all documents be signed in blue ink. Order No:M-24756 This page is only a part of a 2016 ALTA Commitment for Title Insurance. 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. Montana Title & Escrow, Inc. Policy Issuing Agent for Westcor Land Title Insurance Company ALTA Commitment for Title Insurance Issued by Westcor Land 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, Westcor Land 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 Policy Amount and the name of the Proposed Insured. If all of the Schedule B, Part I—Requirements have not been met within 6 months after the Commitment Date, this Commitment terminates and the Company’s liability and obligation end. Issued By: Montana Title & Escrow, Inc. 1925 N. 22nd Avenue Bozeman, MT 59718 Agent ID: MT1000 __________________________________ Authorized Countersignature WESTCOR LAND TITLE INSURANCE COMPANY Order Number: M-24756 This page is only a part of a 2016 ALTA Commitment for Title Insurance. 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. Montana Title & Escrow, Inc. Policy Issuing Agent for Westcor Land Title Insurance Company COMMITMENT CONDITIONS 1. DEFINITIONS (a) “Knowledge” or “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 constitute real property. The term “Land” does not include any property beyond the lines of the area described in Schedule A, nor any right title, 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. (c) “Mortgage”: a mortgage, deed of trust, or other security instrument, including one evidenced by electronic means authorized by law. (d) “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. (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 the 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 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 the 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. 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 shall not be 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 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 it in writing. (c) The Company will only have liability 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 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)(iii) or the Proposed Policy Amount. (e) The Company shall not be liable for the content of the Transaction Identification Data, if any. Order Number: M-24756 This page is only a part of a 2016 ALTA Commitment for Title Insurance. 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. Montana Title & Escrow, Inc. Policy Issuing Agent for Westcor Land Title Insurance Company (f) In no event shall the Company be 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) In any event, the Company’s liability is limited by the terms and provisions of the Policy. 6. LIABILITY OF THE COMPANY MUST BE BASED ON THIS COMMITMENT (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 and must be restricted solely to the terms and provisions of this Commitment. (c) Until the Policy is issued, 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 – Exceptions 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 HAS BEEN 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 the purpose of providing closing or settlement services. 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. ARBITRATION The Policy contains an arbitration clause. All arbitrable matters when the Proposed Policy Amount is $2,000,000 or less shall be arbitrated at the option 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. Order Number: M-24756 This page is only a part of a 2016 ALTA Commitment for Title Insurance. 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. Montana Title & Escrow, Inc. Policy Issuing Agent for Westcor Land Title Insurance Company NOTICE FEDERAL FOREIGN INVESTMENT IN REAL PROPERTY TAX ACT OF 1980 (FIRPTA) Upon the sale of United States real property, by a non-resident alien, foreign corporation, partnership or trust, the Foreign Investment in Real Property Tax Act of 1980 (FIRPTA), and as revised by the Tax Reform Act of 1984 (26 USCA 897 (C)(1)(A)(1) and 26 USCA 1445), Revised by the Path Act of 2015, These changes may be reviewed in full in H.R. 2029, now known as Public Law 114-113. See Section 324 of the law for the full text of FIRPTA changes. Effective February 27, 2016, the amendments to FIRPTA contained in the PATH Act have increased the holdback rate from 10% of gross proceeds to 15% of gross proceeds of the sale, regardless of whether the actual tax due may exceed (or be less than) the amount withheld if ANY of the following conditions are met: 1. If the amount realized (generally the sales price) is $300,000 or less, and the property will be used by the Transferee as a residence (as provided for in the current regulations), no monies need be withheld or remitted to the IRS. 2. If the amount realized exceeds $300,000 but does not exceed $1,000,000, and the property will be used by the Transferee as a residence, (as provided for in the current regulations) then the withholding rate is 10% on the full amount realized (generally the sales prices) 3. If the amount realized exceeds $1,000,000, then the withholding rate is 15% on the entire amount, regardless of use by the Transferee. The exemption for personal use as a residence does not apply in this scenario. If the purchaser who is required to withhold income tax from the seller fails to do so, the purchaser is subject to fines and penalties as provided under Internal Revenue Code Section 1445. Escrow Holder will, upon written instructions from the purchaser, withhold Federal Income Tax from the seller and will deposit said tax with the Internal Revenue Service, together with IRS Forms 8288 and 8288-A. The fee charged for this service is $25.00 payable to the escrow holder. Order Number: M-24756 This page is only a part of a 2016 ALTA Commitment for Title Insurance. 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. Montana Title & Escrow, Inc. Policy Issuing Agent for Westcor Land Title Insurance Company COMMITMENT - SCHEDULE A 1.Effective Date:March 14, 2019 at 7:30AM 2.Policy or Policies to be Issued: 2006 ALTA Standard Owners Policy Proposed Insured:Liability:Premium: City Of Bozeman, a Municipal corporation of the State of Montana $1.00Determined $175.00To Be Determined 3.The interest in the land described or referred to in this Commitment and covered herein is: Fee Simple 4.The Title is, at the Commitment Date, vested in: Oak Springs Estates, LLC, a Utah limited liability company 5.The land referred to in this Commitment is described as follows: See Exhibit "A" Attached For Legal Description Inquiries should be directed to: Montana Title & Escrow, Inc.Escrow Officer:Candace Elser 1925 N. 22nd Avenue Title Officer:Rick Schultz Suite 102 Phone:(406) 587-7702 Bozeman, MT 59718 Fax:(406) 587-2891 Order Number: M-24756 This page is only a part of a 2016 ALTA Commitment for Title Insurance. 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. Montana Title & Escrow, Inc. Policy Issuing Agent for Westcor Land Title Insurance Company Exhibit “A” Legal Description PRIVATE OPEN SPACE #1 AS SHOWN ON THE PLAT OF OAK SPRINGS SUBDIVISION - PHASE 4, A PLATTED SUBDIVISION IN THE COUNTY OF GALLATIN, STATE OF MONTANA, ACCORDING TO THE OFFICIAL RECORDED PLAT THEREOF ON FILE AND OF RECORD IN THE OFFICE OF THE CLERK AND RECORDER OF GALLATIN COUNTY, MONTANA. [PLAT J-475] Order Number: M-24756 This page is only a part of a 2016 ALTA Commitment for Title Insurance. 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. Montana Title & Escrow, Inc. Policy Issuing Agent for Westcor Land Title Insurance Company Order No.: M-24756 SCHEDULE B - Part I REQUIREMENTS The following requirements must be met and completed to the satisfaction of the Company before its Policy of Title Insurance will be issued: 1.Instruments necessary to create the estate or interest to be insured must be properly executed, delivered and duly filed for record. 2. WE FIND NO OPEN MORTGAGES OF RECORD. ***** ESCROW PLEASE CONFIRM BEFORE CLOSING. 3. THE REQUIREMENT THAT WE BE PROVIDED WITH A COPY OF THE OPERATING AGREEMENT AND ANY AMENDMENTS THERETO FOR OAK SPRINGS ESTATES, LLC, A UTAH LIMITED LIABILITY COMPANY. 4. THE REQUIREMENT THAT EVIDENCE, SATISFACTORY TO THE COMPANY BE SUBMITTED THAT THE VESTEE CORPORATION NAMED HEREIN: (A) WAS DULY INCORPORATED; AND (B) IS NOW OF GOOD STANDING AND AUTHORIZED TO DO BUSINESS IN THE STATE OR COUNTY WHERE THE SAID CORPORATION WAS FORMED. 5. WE REQUIRE A FULLY EXECUTED BUY/SELL AGREEMENT BE GIVEN TO THE TITLE COMPANY FOR REVIEW PRIOR TO CLOSING THIS TRANSACTION. Order Number: M-24756 This page is only a part of a 2016 ALTA Commitment for Title Insurance. 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. Montana Title & Escrow, Inc. Policy Issuing Agent for Westcor Land Title Insurance Company Order No.: M-24756 SCHEDULE B - Part II STANDARD EXCEPTIONS 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.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 this Commitment. B.STANDARD EXCEPTIONS (1)Rights or claims of parties in possession not shown by the Public Records. (2)Easements or claims of easements not shown by the Public Records. (3)Discrepancies, conflicts in boundary lines, encroachment, overlaps, variations or shortages in area or content, party walls and any other matters that would be disclosed by a correct survey and/or physical inspection of the Land (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)Any water or well rights, or rights or title to water or claims thereof, in, on or under the Land. (6)(a) Unpatented mining claims; (b) reservations or exceptions in patents or in Acts authorizing the issuance of said patents. (7)All taxes, assessments, levies and charges which constitute liens or are due or payable including unredeemed tax sales. Order Number: M-24756 This page is only a part of a 2016 ALTA Commitment for Title Insurance. 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. Montana Title & Escrow, Inc. Policy Issuing Agent for Westcor Land Title Insurance Company Order No.: M-24756 SCHEDULE B - Part II SPECIAL EXCEPTIONS At the date hereof, exceptions to coverage in addition to the printed Exceptions and Exclusions in said policy form would be as follows: 1. GENERAL TAXES FOR THE YEAR 2019, A LIEN IN THE PROCESS OF ASSESSMENT, NOT YET DUE OR PAYABLE. ACCORDING TO COUNTY RECORDS THIS PROPERTY HAS A TAX ID OF RGG59490. I WAS UNABLE TO LOCATE A TAX BILL FOR COUNTY OR CITY TAXES FOR THIS PARCEL. ESCROW, PLEASE CONFIRM THE STATUS OF THESE TAXES PRIOR TO CLOSING. 2. NO LIABILITY IS ASSUMED FOR ANY SPECIAL ASSESSMENTS, SNOW REMOVAL, SEWER ASSESSMENT OR GARBAGE ASSESSMENT NOT SET FORTH IN THE ASSESSMENT BOOKS OF THE CITY OF BOZEMAN. 3. ALL RIGHTS, TITLES OR INTERESTS IN MINERALS OF ANY KIND, OIL, GAS, COAL, OR OTHER HYDROCARBONS AND THE CONSEQUENCES OF THE RIGHT TO MINE OR REMOVE SUCH SUBSTANCES INCLUDING, BUT NOT LIMITED TO EXPRESS OR IMPLIED EASEMENTS AND RIGHTS TO ENTER UPON AND USE THE SURFACE OF THE LAND FOR EXPLORATION, DRILLING OR EXTRACTION RELATED PURPOSES (THIS COMMITMENT OR POLICY DOES NOT PURPORT TO DISCLOSE DOCUMENTS OF RECORD PERTAINING TO THE ABOVE REFERENCED RIGHTS.) 4. RIGHT OF WAY FOR DITCHES, CREEKS OR CANALS AS THEY MAY BE LOCATED ACROSS OR ALONG THE SUBJECT PROPERTY AS DISCLOSED BY INSTRUMENTS OF PUBLIC RECORD. 5. AN EASEMENT OVER SAID LAND FOR ELECTRIC POWER LINE AND COMMUUNICATION SYSTEM AND INCIDENTAL PURPOSES, AS GRANTED THE MONTANA POWER COMPANY, RECORDED DECEMBER 08, 1986, AS FILM/BOOK 95, PAGE 271, OFFICIAL RECORDS. 6. AN EASEMENT OVER SAID LAND FOR ELECTRIC POWER LINE AND COMMUNICATION SYSTEM AND INCIDENTAL PURPOSES, AS GRANTED THE MONTANA POWER COMPANY, RECORDED DECEMBER 08, 1986, AS FILM/BOOK 95, PAGE 272, OFFICIAL RECORDS. 7. TERMS AND CONDITIONS OF SMITH ANNEXATION AGREEMENT RECORDED NOVEMBER 10, 1997 IN FILM 178, PAGE 3379, AND MCDONALD ANNEXATION AGREEMENT, RECORDED MAY 02, 2005, AS DOCUMENT NO. 2186214, OFFICIAL RECORDS. 8. TERMS AND CONDITIONS OF COMMISSION RESOLUTION NO. 3191 RECORDED NOVEMBER 10, 1997 IN FILM 178, PAGE 3393, AND COMMISSION RESOLUTION NO. 3787, RECORDED MAY 02, 2005, AS DOCUMENT NO. 2186215, OFFICIAL RECORDS. 9. TERMS, PROVISIONS, COVENANTS, CONDITIONS, RESTRICTIONS AND EASEMENTS, PROVIDED IN THE COVENANTS, CONDITIONS AND RESTRICTIONS, BUT OMITTING COVENANTS OR RESTRICTIONS, IF ANY, BASED UPON RACE, COLOR, RELIGION, SEX, SEXUAL ORIENTATION, FAMILIAL STATUS, MARITAL STATUS, DISABILITY, HANDICAP, NATIONAL ORIGIN, ANCESTRY, OR SOURCE OF INCOME, AS SET FORTH IN APPLICABLE STATE OR Order Number: M-24756 This page is only a part of a 2016 ALTA Commitment for Title Insurance. 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. Montana Title & Escrow, Inc. Policy Issuing Agent for Westcor Land Title Insurance Company FEDERAL LAWS, EXCEPT TO THE EXTENT THAT SAID COVENANT OR RESTRICTION IS PERMITTED BY APPLICABLE LAW, IN DOCUMENT RECORDED AUGUST 18, 1999 IN FILM 201, PAGE 4737, AND DECEMBER 22, 2005, AS DOCUMENT NO. 2213735, OFFICIAL RECORDS. SAID COVENANTS, CONDITIONS AND RESTRICTIONS WERE MODIFIED IN PART BY INSTRUMENT RECORDED JUNE 27, 2006, AS (INSTRUMENT) 2232626, OFFICIAL RECORDS. SAID COVENANTS, CONDITIONS AND RESTRICTIONS WERE MODIFIED IN PART BY INSTRUMENT RECORDED JUNE 22, 2007, AS DOCUMENT NO. 2270315, OFFICIAL RECORDS. 10. NOTATIONS, EASEMENTS, AND ALL OTHER MATTERS AS DELINEATED ON THE OFFICIAL PLATS OF CERTIFICATE OF SURVEY NO. 2530A, DIAMOND ESTATES SUBDIVISION, AND OAK SPRINGS SUBDIVISION, PHASES 1, 2, 3 AND 4, ON FILE AND OF RECORD WITH THE GALLATIN COUNTY CLERK AND RECORDER, GALLATIN COUNTY, MONTANA. 11. TERMS AND CONDITIONS OF IMPROVEMENTS AGREEMENT FOR OAK SPRINGS MAJOR SUBDIVISION, PHASE 3, RECORDED JANUARY 04, 2007, AS DOCUMENT NO. 2252800, OFFICIAL RECORDS. 12. TERMS AND CONDITIONS OF NOTICE OF BUILDING PERMIT RESTRICTIONS OAK SPRINGS MAJOR SUBDIVISION, PHASE 3, RECORDED JANUARY 04, 2007, AS DOCUMENT NO. 2252801, OFFICIAL RECORDS. 13. EASEMENT AGREEMENT BETWEEN OAK SPRINGS ESTATES, LLC AND QWESTCORPORATION RECORDED FEBRUARY 6, 2006 AS DOCUMENT NO. 2217738, OFFICIAL RECORDS. 14. AN AGREEMENT BY AND BETWEEN OAK SPRINGS ESTATES, L.L.C. AND THE CITY OF BOZEMAN, SETTING FORTH TERMS, DATED SEPTEMBER 17, 2007, RECORDED OCTOBER 12, 2007, AS DOCUMENT NO. 2281439, OFFICIAL RECORDS. 15. TERMS AND CONDITIONS OF NOTICE OF BUILDING PERMIT RESTRICTIONS, RECORDED OCTOBER 12, 2007, AS DOCUMENT NO. 2281440, OFFICIAL RECORDS. 16. OAK SPRINGS HOME OWNER'S ASSOCIATION BOARD OF DIRECTORS COVENANT FINING RULES AND REGULATIONS - RESOLUTION: POLICIES AND PROCEDURES FOR THE COVENANT AND RULE ENFORCEMENT, RECORDED JUNE 5, 2015, AS (INSTRUMENT) 2513457, OFFICIAL RECORDS. 17. AN EASEMENT UPON THE TERMS, CONDITIONS AND PROVISIONS CONTAINED THEREIN FOR THE PURPOSE SHOWN BELOW AND RIGHTS INCIDENTAL THERETO AS GRANTED IN A DOCUMENT RECORDED DECEMBER 21, 2009, AS (INSTRUMENT) 2349823, OFFICIAL RECORDS: PURPOSE:PUBLIC SIDEWALK EASEMENT *********************** END OF SCHEDULE B *********************** *** INFORMATIONAL NOTES: WE HAVE MADE A JUDGMENT SEARCH AGAINST CITY OF BOZEMAN, AND FIND NONE. 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 Order Number: M-24756 This page is only a part of a 2016 ALTA Commitment for Title Insurance. 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. Montana Title & Escrow, Inc. Policy Issuing Agent for Westcor Land Title Insurance Company AT ~WWW.ALTA.ORG~. IN THE EVENT THAT THIS TRANSACTION FAILS TO CLOSE, A FEE WITH A MINIMUM OF $200.00 WILL BE CHARGED TO COMPLY WITH THE STATE INSURANCE CODE. THERE IS NO NOTICE OF RECORD AND THEREFORE NO SEARCH HAS BEEN MADE FOR ANY UNPAID ASSESSMENTS, CHARGES OR FEES FOR SEWER, WATER, GARBAGE, IRRIGATION AND OTHER POSSIBLE UTILITY SERVICES. IF THE PROPOSED INSURED UNDER THE POLICY TO ISSUE HAS ANY QUESTIONS CONCERNING THE SCHEDULE B REQUIREMENTS OR EXCEPTIONS FROM COVERAGE, THE COMPANY WILL BE PLEASED TO PROVIDE AN EXPLANATION. PLEASE CONTACT THE TITLE OFFICER NAMED ON SCHEDULE A OF THIS COMMITMENT. ADDRESS: Private Open Space #1 of Oak Springs Sub Ph 4, Bozeman, MT 59718 IMPORTANT NOTICE- ACCEPTABLE TYPES OF FUNDS ANY FUNDS DEPOSITED FOR THE CLOSING MUST BE DEPOSITED INTO THE ESCROW DEPOSITORY AND CLEARED PRIOR TO DISBURSEMENT. ALL FUNDS DEPOSITED MUST BE BY WIRE, CASHIERS CHECK, OFFICIAL CHECK OR PERSONAL CHECK. REQUIRED TIME NECESSARY TO CLEAR EACH TYPE OF FUNDS WILL VARY. IMPORTANT NOTE: PLEASE BE ADVISED THAT ESCROW HOLDER DOES NOT ACCEPT CASH, MONEY ORDERS, ACH TRANSFERS OR ANY FOREIGN CHECKS. PLEASE CONTACT ESCROW REGARDING QUESTIONS ON TYPE OF FUNDS REQUIRED IN ORDER TO FACILITATE THE PROMPT CLOSING OF THIS TRANSACTION. NOTE: IF YOU INTEND TO REMIT MULTIPLE CASHIER'S CHECKS TO CLOSE YOUR ESCROW (WHICH MAY OR MAY NOT INCLUDE GIFT FUNDS OR THIRD PARTY FUNDS) IRS CASH REPORTING UNDER IRS CODE 8300 MAY BE REQUIRED. FOR THIS REASON, YOU MAY WISH TO CONSIDER WIRING FUNDS IN LIEU OF REMITTING CASHIER'S CHECKS. ******************** CHAIN OF TITLE REPORT: ACCORDING TO THE PUBLIC RECORDS, NO DEEDS CONVEYING THE PROPERTY DESCRIBED IN THIS REPORT HAVE BEEN RECORDED WITHIN A PERIOD OF 24 MONTHS PRIOR TO THE DATE OF THIS REPORT, EXCEPT AS SHOWN HEREIN: NONE. PRIVACY POLICY NOTICE Purpose Of This Notice Title V of the Gramm-Leach-Bliley Act (GLBA) generally prohibits any financial institution, directly or through its affiliates, from sharing nonpublic personal information about you with a nonaffiliated third party unless the institution provides you with a notice of its privacy policies and practices, such as the type of information that it collects about you and the categories of a persons or entities to whom it may be disclosed. In compliance with the GLBA, we are providing you with this document which notifies you of the privacy policies and practices of: Montana Title and Escrow Company Placer Title Company National Closing Solutions, Inc.Placer Title Insurance Agency of Utah National Closing Solutions of Alabama, LLC Premier Title Agency National Closing Solutions of Maryland, Inc.North Idaho Title Insurance Company Texas National Title Wyoming Title and Escrow Company We may collect nonpublic personal information about you from the following sources: Information we receive from you, such as an application or other forms. Information about your transactions we secure from our files, or from our affiliates or others. Information we receive from a consumer reporting agency. Information we receive from others involved in your transaction, such as the real estate agent or lender. Unless it is specifically stated otherwise in an amended Privacy Policy Notice, no additional nonpublic personal information will be collected about you. We may disclose any of the above information that we collect about our customers or former customers to our affiliates or to nonaffiliated third parties as permitted by law. We also may disclose this information about our customers or former customers to the following types of nonaffiliated companies that perform marketing services on our behalf or with whom we have joint marketing agreements: Financial service providers such as companies engaged in banking, consumer finances, securities and insurance. Nonfinancial companies such as envelope stuffers and other fulfillment service providers. We do not disclose any nonpublic personal information about you with anyone for any purpose that is not specifically permitted by law. We restrict access to nonpublic personal information about you to those employees who need to know that information in order to provide products or services to you. We maintain physical, electronic and procedural safeguards that comply with federal regulations to guard your nonpublic personal information. PRIVACY POLICY Westcor Land Title Insurance Company Westcor Land Title Insurance Company (”WLTIC”) values its customers and is committed to protecting the privacy of personal information. In keeping with that philosophy, we have developed a Privacy Policy, set out below, that will ensure the continued protection of your nonpublic personal information and inform you about the measures WLTIC takes to safeguard that information. Who is Covered Our Privacy Policy applies to each customer who purchases a WLTIC title insurance policy. Typically, this means that the customer covered by our Privacy Policy at the closing of the real estate transaction. Information Collected In the normal course of business and to provide the necessary services to our customers, we may obtain nonpublic personal information directly from the customer, from customer-related transactions, or from third parties such as our title insurance agents, lenders, appraisers, surveyors or other similar entities. Access to Information Access to all nonpublic personal information is limited to those employees who have a need to know in order to perform their jobs. These employees include, but are not limited to, those in departments such as legal, underwriting, claims administration and accounting. Information Sharing It is the policy of WLTIC not to share nonpublic personal information that it collects with anyone other than our policy issuing agents as necessary to complete the real estate settlement services and issue the title insurance policy requested by our customer. WLTIC may share nonpublic personal information as permitted by law with entities with whom WLTIC has a joint marketing agreement. Entities with whom WLTIC has a joint marketing agreement have agreed to protect the privacy of our customer’s nonpublic personal information by utilizing similar precautions and security measures to those that WLTIC uses to protect this information and only to use the information for lawful purposes. WLTIC, however, may share information as required by law in response to a subpoena, to a government regulatory agency or to prevent fraud. Information Security WLTIC, at all times, strives to maintain the confidentiality and integrity of the personal information in its possession and has instituted measures to guard against its unauthorized access. We maintain physical, electronic and procedural safeguards in compliance with federal standards to protect that information. Affiliated Business Arrangement Disclosure Statement Notice To:City Of Bozeman, a Municipal corporation of the State of Montana Oak Springs Estates From:Montana Title & Escrow, Inc. Property:Private Open Space #1 of Oak Springs Sub Ph 4, Bozeman, MT 59718 Date:3/26/2019 This is to give you notice that Montana Title & Escrow, Inc. has a business relationship with Westcor Land Title Insurance Company. The parent company of Montana Title & Escrow, Inc. holds a 29.14 percentage interest in the shares of said company. Because of this relationship, this referral may provide Montana Title & Escrow, Inc. a financial or other benefit. Set forth below is the estimated charge or range of charges for the settlement services identified below. You are NOT required to use the listed settlement service provider as a condition of the purchase, sale, or refinance of the subject property. THERE ARE FREQUENTLY OTHER SETTLEMENT SERVICE PROVIDERS AVAILABLE WITH SIMILAR SERVICES. YOU ARE FREE TO SHOP AROUND TO DETERMINE THAT YOU ARE RECEIVING THE BEST SERVICES AND THE BEST RATE FOR THESE SERVICES. Settlement Service: Title Insurance Settlement Service Provider: Westcor Land Title Insurance Company Charge or Range of Charges: 2006 ALTA Standard Owners Policy $175.00 $0.00 Total Estimated Charges:$175.00 The Charge or Range of Charges is based upon the most currently available information provided to Montana Title & Escrow, Inc. concerning the purchase price of the subject property (if this is a sale transaction), the amount of the loan, and the service or product requested. If these figures change during the course of the transaction, the charge or range of charges may also change. ACKNOWLEDGMENT I/we have read this disclosure form, and understand that referring party is referring me/us to purchase the above-described settlement services may receive a financial or other benefit as the result of this referral. ______________________________________ City Of Bozeman, a Municipal corporation of the State of Montana ______________________________________ Oak Springs Estates