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American Land Title Association
<br />02WESiCOR
<br />A TRUE COPY
<br />CERTIFICATION ON LAST PAGE
<br />RYAN L. BUTLER, CLERK
<br />Owner's Policy of Title Insurance
<br />2021 v. 01.00 (07-01-2021)
<br />with Florida modifications
<br />(2). a trustee or beneficiary of a trust created by a written instrument established for
<br />estate planning purposes by an Insured;
<br />(3). a spouse who receives the Title because of a dissolution of marriage;
<br />(4). a transferee by a transfer effective on the death of an Insured as authorized by law;
<br />or
<br />(5). another Insured named in Item 1 of Schedule A.
<br />ii. The Company reserves all rights and defenses as to any successor or grantee that the Company
<br />would have had against any predecessor Insured.
<br />h. "Insured Claimant": An Insured claiming loss or damage arising under this policy.
<br />i. "Knowledge" or "Known": Actual knowledge or actual notice, but not constructive notice imparted by the
<br />Public Records.
<br />j. "Land": The land described in Item 4 of Schedule A and improvements located on that land at the Date
<br />of Policy that by State law constitute real property. The term "Land" does not include any property
<br />beyond that described in Schedule A, nor any right, title, interest, estate, or easement in any abutting
<br />street, road, avenue, alley, lane, right-of-way, body of water, or waterway, but does not modify or limit
<br />the extent that a right of access to and from the Land is insured by this policy.
<br />k. "Mortgage": A mortgage, deed of trust, trust deed, security deed, or other real property security
<br />instrument, including one evidenced by electronic means authorized by law.
<br />I. "PACA-PSA Trust": A trust under the federal Perishable Agricultural Commodities Act or the federal
<br />Packers and Stockyards Act or a similar State or federal law.
<br />M. "Public Records": The recording or filing system established under State statutes in effect at the Date
<br />of Policy under which a document must be recorded or filed to impart constructive notice of matters
<br />relating to the Title to a purchaser for value without Knowledge. The term "Public Records" does not
<br />include any other recording or filing system, including any pertaining to environmental remediation or
<br />protection, planning, permitting, zoning, licensing, building, health, public safety, or national security
<br />matters.
<br />n. "State": The state or commonwealth of the United States within whose exterior boundaries the Land is
<br />located. The term "State" also includes the District of Columbia, the Commonwealth of Puerto Rico, the
<br />U.S. Virgin Islands, and Guam.
<br />o. "Title": The estate or interest in the Land identified in Item 2 of Schedule A.
<br />p. "Unmarketable Title": The Title affected by an alleged or apparent matter that would permit a
<br />prospective purchaser or lessee of the Title or a lender on the Title to be released from the obligation
<br />to purchase, lease, or lend if there is a contractual condition requiring the delivery of marketable title.
<br />CONTINUATION OF COVERAGE
<br />This policy continues as of the Date of Policy in favor of an Insured, so long as the Insured:
<br />a. retains an estate or interest in the Land;
<br />b. owns an obligation secured by a purchase money Mortgage given by a purchaser from the Insured; or
<br />C. has liability for warranties given by the Insured in any transfer or conveyance of the Insured's Title.
<br />Except as provided in Condition 2, this policy terminates and ceases to have any further force or effect after
<br />the Insured conveys the Title. This policy does not continue in force or effect in favor of any person or entity
<br />that is not the Insured and acquires the Title or an obligation secured by a purchase money Mortgage given
<br />to the Insured.
<br />3. NOTICE OF CLAIM TO BE GIVEN BY INSURED CLAIMANT
<br />The Insured must notify the Company promptly in writing if the Insured has Knowledge of:
<br />a. any litigation or other matter for which the Company may be liable under this policy; or
<br />b. any rejection of the Title as Unmarketable Title.
<br />If the Company is prejudiced by the failure of the Insured Claimant to provide prompt notice, the Company's
<br />liability to the Insured Claimant under this policy is reduced to the extent of the prejudice.
<br />Copyright 2021 American Land Title Association. All rights reserved. IIS
<br />.\Mf RICAN
<br />The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ,,,,,,,,,,,,,4
<br />ALTA members in good standing as of the date of use. All other uses are prohibited.
<br />Reprinted under license from the American Land Title Association.
<br />OP -61 FL ALTA 07-01-2021 Owner's Policy of Title Insurance (FLORIDA) (ALTA 7-01-2021) (W LTIC Edition 8/12/2022)
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