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ALTA Plain Language Commitment (2006) <br />1. DEFINffiONS <br />CONDffiONS <br />Commitment Page 9 <br />Commitment Number: 15-02820 <br />(a) "Mortgage" means mortgage, deed of trust or other security <br />instrument. (b) "Public Records" means title records that give constructive <br />notice of matters affecting your title according to the state statutes where <br />your Land is located. <br />2. LATER DEFECTS <br />The Exceptions in Schedule B -Section II may be amended to show any <br />defects, liens or encumbrances that appear for the first time in the public <br />records or are created or attach between the Commitment Date and the <br />date on which all of the Requirements (a} and (c) of Schedule B -Section <br />I are met. We shall have no liability to you because of this amendment. <br />3. EXISTING DEFECTS <br />If any defects, liens or encumbrances existing at Commitment Date are <br />not shown in Schedule B, we may amend Schedule B to show them. If we <br />do amend Schedule B to show these defects, liens or encumbrances, we <br />shall be liable to you according to Paragraph 4 below unless you knew of <br />this information and did not tell us about it in writing. <br />4. LIMITATION OF OUR LIABILITY . <br />Our only obligation Is to Issue to you the Policy referred to in this <br />Commitment, when you have met its Requirements, If we have any <br />liability to you for any loss you incur because of an error in this <br />Commitment, our liability will be limited to your actual loss caused by your <br />relying on this Commitment when you acted in good faith to: <br />Comply with the Requirements shown in Schedule B -Section I <br />or <br />Eliminate with our written consent any Exceptions shown in <br />Schedule B -Section II. <br />We shall not be liable for more than the Policy Amount shown in Schedule <br />A of this Commitment and our liability is subject to the terms of the Policy <br />form to be issued to you. <br />5. CLAIMS MUST BE BASED ON THIS COMMITMENT <br />Arr-t claim, whether or not based on negligence, which you may have <br />against us concerning the title to the Land must be based on this <br />Commitment and is subject to its terms. <br />First American Title Insurance Company