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Schedule B-Section 2 No. 11-15038 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 (all clauses, if any, which indicate any preference, limitation or discrimination based on race, color, religion, national origin or other protected category are omitted from all building and use restrictions, covenants and conditions, if any, shown herein): A. GAP COVERAGE: Defects, liens, encumbrances, adverse claims or other matters, if any, created, first appearing in the public records, or attaching subsequent to the effective date hereof but prior to the date the Proposed Insured acquires of record for value the estate or interest or mortgage thereon covered by this Commitment. Note: This exception will be removed from all ALTA policies issued by Burnet Title, if Burnet Title provides insured closing services and the Company requirements as they pertain to "Gap Coverage" have been complied with. B. STANDARD EXCEPTIONS: The following Standard Exceptions will remain on all policies issued unless eliminated in whole or in part by Section 13-1 or by Endorsement after the Company has completed a risk assessment which may include a lien audit, property inspection, plat drawing, or other documentation. There will be an additional service fee for any risk assessment requested. 1. Rights or claims of parties in possession not shown by the public records. 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. Any Lien, or rights to a lien, for services, labor or material heretofore or hereafter furnished, imposed by law and not shown by the public records. C. SPECIAL EXCEPTIONS: 1. Homeowners Association monthly dues and assessments levied or pending, if any. 2. No coverage is provided for unpaid utility, water or sewer services or fees for tree, weeds, grass, snow, garbage removal, open city work order, vacant or abandoned property fees, Truth in Housing or any other fees. 3. Rights of tenants as tenants only. 4. Rights of the Public to streets, highways and/or alleys. 5. All assessments and taxes due and payable in the year of closing, and thereafter. 6. All restrictive covenants affecting the above -described property. 7. All levied and/or pending special assessments. 8. Easements as delineated and/or dedicated on the face of the plat. 9. Easements or claims of easements affecting the subject property. 10. Rights or claims of parties in possession not shown by the public records. 11. Matters that a physical inspection of the land would disclose. 12. 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.