title commitment (7)€¦ · special note: please be advised that webtitle agency, as authorized...

OOLLDD RREEPPUUBBLLIICC NNAATTIIOONNAALL TTIITTLLEE IINNSSUURRAANNCCEE CCOOMMPPAANNYY

Title No: WTA-17-013647 NY Title Ins. Lic. No.: TLA-1353623

Commitment for Title Insurance

Issued By

500-A Canal View Blvd.Rochester, NY 14623

Phone: (888) 250-9056 / (585) 454-4770Fax: (888) 250-9057 / (585) 454-4943

www.webtitle.us

By: ___________________________________Marianne S. BeatsonSenior Title Examiner

__________________________________________________________________________________________

THIS REPORT IS NOT A TITLE INSURANCE POLICY!

PLEASE READ IT CAREFULLY. THE REPORT MAY SET FORTH EXCLUSIONS UNDER THE TITLE INSURANCEPOLICY AND MAY NOT LIST ALL LIENS, DEFECTS, AND ENCUMBRANCES AFFECTING TITLE TO THEPROPERTY.

YOU SHOULD CONSIDER THIS INFORMATION CAREFULLY.


Title No: WTA-17-013647

WebTitle Agency • 500-A Canal View Blvd. • Rochester, New York 14623 • (888) 250-9056

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AGREEMENT TO ISSUE POLICY

We agree to issue a policy to you according to the terms of the Commitment. When we show the policy amountand your name as the proposed insured in Schedule A, this Commitment becomes effective as of theCommitment Date shown in Schedule A.

If the Requirements shown in this Commitment have not been met within six months after the CommitmentDate, our obligation under this Commitment will end. Also, our obligation under this Commitment will endwhen the Policy is issued and then our obligation to you will be under the Policy.

Our obligation under this Commitment is limited by the following:

1.) The Provisions in Schedule A.2.) The Requirements in Schedule B-1.3.) The Exceptions in Schedule B-2.4.) The Conditions on Page 1.

This Commitment is not valid without SCHEDULE A and Sections 1 and 2 of SCHEDULE B.

Special Note: Please be advised that WebTitle Agency, as authorized issuing agent, utilizes title insurancerate calculators available to the general public on the internet free of charge. Please feel free to contactWebTitle Agency for a list of these website addresses.

The insured, as part of this transaction, shall pay WebTitle Agency, only the premium for the title policy,in accordance with the insurer’s filed rates. WebTitle Agency hereby certifies that any additional chargesare reasonably related to the work performed and are not excessive.




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CONDITIONS

1. DEFINITIONS (a) "Mortgage" means mortgage, deed of trust or other security instrument. (b) "PublicRecords" means title records that give constructive notice of matters affecting your title according to thestate statutes where your land is located.

2. LATER DEFECTS The Exceptions in Schedule B - Section 2 may be amended to show any defects,liens or encumbrances that appear for the first time in the public records or are created or attach betweenthe Commitment Date and the date on which all of the Requirements of Schedule B - Section 1 are met.We shall have no liability to you because of this amendment.

3. EXISTING DEFECTS If any defects, liens or encumbrances existing at Commitment Date are notshown in Schedule B, we may amend Schedule B to show them. If we do amend Schedule B to showthese defects, liens or encumbrances, we shall be liable to you according to Paragraph 4 below unlessyou knew of this information and did not tell us about it in writing.

4. LIMITATION OF OUR LIABILITY Our only obligation is to issue to you the Policy referred to inthis Commitment, when you have met its Requirements. If we have any liability to you for any loss youincur because of an error in this Commitment, our liability will be limited to your actual loss caused byyour relying on this Commitment when you acted in good faith to:

Comply with the Requirements shown in Schedule B - Section 1

Or

Eliminate, with our written consent, any Exceptions shown in Schedule B - Section 2.

We shall not be liable for more than the Policy Amount shown in Schedule A of this Commitment and ourliability is subject to the terms of the Policy form to be issued to you.

CLAIMS MUST BE BASED ON THIS COMMITMENT. Any claim, whether or not based onnegligence, which you may have against us concerning the title to the land must be based on thisCommitment and is subject to its terms.




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CLOSING INSTRUCTION SHEET

Notice Requirements – Scheduled Closing Date

WebTitle Agency shall require at least 72 hours advance notice of any scheduled closing date.

Notice Requirements – Title Closer Attendance

WebTitle Agency shall require at least 48 hours advance notice if a title closer representative will be required toattend the closing, with specific date of closing, time of closing and location of closing to ensure successfulscheduling with WebTitle Agency closing representative. Upon receipt of notice, additional charges shall beadded to the final invoice to cover the cost of closing attendance by WebTitle Agency representative.

Recording Fee/Transfer Tax/Title Premium Quote

Upon request, WebTitle Agency can provide a detailed quote for all applicable recording fees, transfer tax andtitle insurance charges. In the event that subject premises lies within the Five (5) Boroughs and is subject to theACRIS system, WebTitle Agency shall require the completed ACRIS documents with document recordingcover sheet to be provided prior to closing, for verification of all applicable charges. In the event that parties tothe proposed transaction shall require assistance in preparing the ACRIS documents, WebTitle Agency offersACRIS document preparation services at a base charge of $150.00.

Simultaneous Mortgage Insurance

In the event that proposed purchaser will require a simultaneous mortgage policy, WebTitle Agency should becontacted prior to closing, to calculate the applicable simultaneous rate discount and title insurance endorsementcharges, and this company will require all Lender requirements for Judgment & Lien, Bankruptcy and PatriotSearch Certifications.

Municipal/Departmental Search Certification

No certification has been made for Emergency Repairs, Housing and Building, Zoning, Code Enforcement, FireDepartment, Street Reports, Highway Searches, or other municipal/departmental searches, that may discloseviolations and/or charges levied against subject premises certified herein.

Note: These additional certifications are available upon specific request, and same are subject to all applicableWebTitle Agency coordination fees and third party municipal charges, to be billed to the requesting Attorneyprior to closing.




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CLOSING INSTRUCTION SHEET - CONTINUED

Property Taxes and Disbursements

WebTitle Agency has provided a certified tax search detailing all property taxes, assessments and municipalitycharges that are a lien against subject premises, past due and payable and delinquent, and/or that may be a lienagainst subject premises, due and payable, not yet delinquent.

Past Due, Payable and Delinquent

In order to omit unpaid property taxes and municipal charges that are past due, payable and delinquent from thefinal policy of title insurance, WebTitle Agency shall require the following:

1. Paid tax receipts showing payment in full (including all penalties and interest), OR2. Attorney’s Guarantee, indemnifying and holding harmless WebTitle Agency, specifically referencing

the property taxes and/or municipal charges, with an undertaking to pay same.

In the event that parties to the proposed transaction will require assistance in connection with disbursement andpayoff of any outstanding past due, payable and delinquent property taxes and municipal charges, WebTitleAgency shall require the following:

Closing Date Prior To The 15th Day Of The Calendar Month:

1. Receipt of payment in the amount of $75.00 (Tax Payoff Coordination Fee), AND2. Receipt of funds by attorney check or certified funds, payable to WebTitle Agency.

Closing Date On Or After the 15th Day Of The Calendar Month:

Note: For all closings taking place on or after the 15th day of the calendar month, the tax payoff shall becalculated for the following calendar month. This company shall make its’ best effort to submit payoff prior tothe end of the current calendar month. If successful, the balance collected shall be returned to the purchaserattorney within ten (10) business days following tax payoff.

1. Receipt of payment in the amount of $75.00 (Tax Payoff Coordination Fee), AND2. Receipt of funds by attorney check or certified funds, payable to WebTitle Agency, AND3. Completion and execution of the attached Indemnity and Deposit Agreement.




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CLOSING INSTRUCTION SHEET - CONTINUED

Due and Payable, Not Yet Delinquent

In order to omit property taxes and municipal charges that are a lien due and payable, not yet delinquent fromthe final policy of title insurance, WebTitle Agency shall require the following:

1. Attorney Guarantee indemnifying and holding harmless WebTitle Agency, specifically referencing theproperty taxes and/or municipal charges, with an undertaking to pay same.

In the event that parties to the proposed transaction will require assistance in connection with holding funds inescrow, for future disbursement and payoff of any property taxes and municipal charges that are due andpayable, not yet delinquent, WebTitle Agency shall require the following:

1. Receipt of payment in the amount of $150.00 (Tax Escrow Servicing Fee), AND2. Receipt of funds by attorney check or certified funds, payable to WebTitle Agency, AND3. Receipt of an amount equal to tax payoff amount + 20%, to be held in escrow pending payoff in full of

all outstanding property taxes and municipal charges, subject to the terms of the attached Indemnity andDeposit Agreement, AND

4. Completion and execution of the attached Indemnity and Deposit Agreement.




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INDEMNITY & DEPOSIT AGREEMENT

Service Charge = $150.00To be filled out and execute at closing only if WebTitle Agency is being hired to hold escrow for tax payments.This agreement is 4 pages.

DEPOSITOR: PROPERTY:

_________________________________________ _________________________________________PRINT NAME NO. & STREET NAME

_________________________________________ _________________________________________ADDRESS CITY, STATE, ZIP

_________________________________________ _________________________________________TAX PARCEL NO.

_________________________________________TELEPHONE NO.

WebTitle Agency (the “Depositary”) acknowledges receipt of $ _________________________(the “Deposit”)from the Depositor for the purpose of holding and disbursing real estate and/or school taxes or other municipalcharges or liens at a time when they are due and payable. The Depositor agrees to the TERMS ANDCONDITIONS attached hereto and incorporated herein.

Depositary is hereby authorized to HOLD the deposited funds until a time when the real estate and/or schooltaxes or other municipal charges or liens, specified below, are due and payable and at that time pay, satisfy ordispose of out the Deposit the amounts due and payable affecting said premises:

__________________________________________________________________________________________

__________________________________________________________________________________________

___________________________________________together with interest, penalties and other charges thereon.

Within five (5) days of receipt by the Depositary of the Deposit funds, the Depositary shall deposit said fundswith a Federally insured banking institution. The Depositary shall not be required to disburse any funds fromthe Deposit until said funds are available for withdrawal from the Depositary’s banking institution.

The Depositary shall not be required to hold the Deposit funds in an interest bearing account, nor shall they berequired to pay interest on the Deposit to the Depositor or any other entity. The Depositary may place theDeposit into an account where client funds or escrow amounts are held. The Depositor shall not be a signer onthe account where the Deposit is held.

If the Depositor receives notice from the tax collector or municipality of any amount(s) which would be duefrom the Deposit as held by the Depositary, the Depositor shall immediately forward said notice to theDepositary. The Depositary shall not be required to provide an accounting of the holding or disbursement of theDeposit.




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INDEMNITY & DEPOSIT AGREEMENT - CONTINUED

The Depositor shall release the Depositary from any liability for disbursement of funds from Deposit, so long aspayments have been made to the tax collector or municipal office as would be entitled to payment for the realestate taxes or other municipal charges as listed above.

If the Deposit is not sufficient to pay the above real estate taxes, municipal charges or liens, interest, penalties orany other amounts due, the Depositary shall not be liable for the payment of said amounts exceeding the Depositas held by the Depositary. The Depositor agrees to pay any additional amounts due and requested by the town,county or municipality within ten (10) days of notice by the Depositary, Buyer or Seller Attorney or town,county or municipal entity. The Depositor shall provide evidence to the Depositary within five (5) days ofpayment of said amounts that the requested funds have been delivered to the town, county or municipal entity.The Depositary shall not be responsible for any amounts, including interest or penalties, incurred as a result ofinsufficient funds being held by the Depositary.

The Depositary shall not release the balance of the deposited funds, if any, to the Depositor until after paymentin full of the real estate taxes or other municipal charges listed above. The balance shall be returned to theDepositor within ten (10) days after receipt and confirmation by the Depositary that all taxes, municipal chargesor liens, interest, penalties or any other amounts due have been paid in full. The Depository has no obligation tothe Depositor to provide notice of the amounts due and payable prior to payment being made to the appropriatetaxing or municipal authority. The Depositary has full authority to disburse the Deposit as requested by thetaxing or municipal authority and shall not bear responsibility for the validity or accuracy of said taxes,municipal charges or liens, interest, penalties or other amounts as specified as due by the taxing or municipalauthority.

Refunds of any funds held by the Depositary after all disbursements as indicated above have been made shall bereturned to the Depositor or their agent at the following address:

_________________________________________________________________________________________

If any provision of this Indemnity and Deposit Agreement or the incorporated Terms and Conditions or theapplication there of to any person or circumstance is determined to be invalid or unenforceable, the remainingprovisions of this Agreement or the application of such provisions to person(s) or circumstances other than thosewhich are held to be invalid or unenforceable shall not be affected thereby and shall be valid and enforceable tothe fullest extent permitted by law.

Dated: _____________________ WebTitle Agency

________________________________________ By: _____________________________________Depositor

________________________________________Depositor

DEPOSIT SUBJECT TO SERVICE CHARGES AND TERMS AND CONDITIONS




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THE FOLLOWING INDIVIDUAL GUARANTY MUST BE OBTAINED IF DEPOSITOR IS ACORPORATION: To induce Depositary to enter into this Agreement, the undersigned unconditionallyguarantees the performance of all the obligations of the Depositor.

____________________________________ _____________________________________PRINT NAME SIGNATURE OF GUARANTOR

____________________________________ _____________________________________ADDRESS PRINTED NAME OF GUARANTOR

____________________________________ _____________________________________CITY, STATE, ZIP SIGNATURE OF GUARANTOR

____________________________________ _____________________________________TELEPHONE NO. PRINTED NAME OF GUARANTOR




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TERMS AND CONDITIONS OF INDEMNITY AND DEPOSIT AGREEMENT

1. In the event that Depositor fails to comply with any of Depositor’s obligations, or if Depositary deems it advisable todo so to protect the title to the insured premises or the marketability thereof, Depositary is authorized, without notice,to pay, satisfy or otherwise dispose of said Deposit; to retain counsel in connection therewith; and to pay any suchexpenses, disbursements and/or counsel fees out of the Deposit.

2. Depositor agrees to indemnify, save and hold harmless Depositary from all losses and expenses arising out ofDepositor’s failure to comply with its obligations under this agreement and Depositary is authorized to offset againstthe Deposit or any other of Depositor’s funds held by Depositary under this or any other Deposit Agreement, anyamounts that Depositor owes to Depositary for any reason, including, but not limited to, Depositor’s indemnification,unpaid title charges or taxes, and losses and expenses incurred by Depositary as a result of any defects, liens andencumbrances affecting the Depositor’s title to the insured premises not covered by this Agreement which becomeknown to Depositary and which are Depositor’s responsibility. Depositor agrees to pay on demand any deficiency ifthe Deposit or other funds held by Depositary are not sufficient to satisfy any amounts owed to the municipaldepartment or the Depositary.

3. If the Deposit is taken for more than one purpose, the allocation of the funds among the several purposes shall be at thesole discretion of the Depositary, in the absence of a written agreement to the contrary. Nothing herein shall prohibitthe recovery by the Depositary of any offset or deficiency as provided for in this Agreement from allocated funds.

4. In no event will interest be allowed to Depositor on the Deposit.

5. Depositary accepts this Deposit at the request of and for the accommodation of Depositor and as an inducement toissue a policy of title insurance to the insured thereunder. Depositary shall have the right to issue re-insurance,indemnification and/or benefit letters affecting the insured premises, based on this Deposit. In such event, this Depositshall continue to be held in accordance with the terms of this Agreement for so long as the Depositary is liable undersuch letters.

6. This Deposit may not be assigned by Depositor.

7. Depositary is authorized to impose a service charge of $150.00 annually for maintaining the deposit. For depositsrequiring additional administrative services, where Depositary has incurred costs for searching title or requesting liencertificates or costs associated with compliance the Depositary may assess the Deposit for any cost incurred by theDepositary, or allocated share of such cost incurred by Depositary and any disbursements actually paid by Depositary.

8. Depositor acknowledges that the waiver by Depositary of any particular provision of this Agreement shall notconstitute a waiver of any other provision contained herein. In the event that any provision of this Agreement is held tobe unenforceable all other provisions thereof shall remain in full force and effect.

9. This Indemnity and Deposit Agreement constitutes the entire agreement between Depositor and Depositary concerningthe Deposit. This agreement shall not be modified, except by an agreement in writing signed by the parties hereto.The use of any terms in the singular tense shall be deemed to be used in the plural tense when the sense of theagreement so requires.

10. The Depositary shall have no liability to Depositor in connection with the funds deposited under this Agreement in theevent of failure or insolvency of the depositary bank or other institution in which the deposited funds are held.

Depositor Initials ________ Depositor Initials ________




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A Special Note to Purchaser’s Attorney:

Abstract of Title – Discounted Rate Program

In the majority of cases, the seller in an REO transaction offers insurable title only. This is primarily based onthe difficulty in obtaining the existing abstract of title and/or instrument survey from the foreclosed debtor, andthe reduced sale price for foreclosed property dictates the premises is purchased in an “as is’ condition.

The Fee title insurance commitment (commitment to insure the interest(s) of the purchaser), is based oncompletion of a forty (40) year search (search span based on title insurance industry standards), with proposedinsured party and insured amount to be determined. This includes chain of title with current ownershipcertification, full tax, lien and bankruptcy certification, full examination w/ copies of the underlying foreclosureaction, as well as full document copies of all items picked-up in the search.

In an effort to assist the purchaser with obtaining an abstract of title for future re-sale of the subject premises,WebTitle Agency offers Abstract of Title products, designed to meet the search span requirements of the localBar Association standards.

These Abstracts of Title are offered by WebTitle Agency at a reduced rate to the purchaser, based on theprevious completion of the forty (40) year search certification for preparation of the fee title insurancecommitment.

These Abstracts of Title are negotiated between the Purchaser and WebTitle Agency directly, and completion istraditionally done post closing, so as not to jeopardize the timeline and product delivery terms of the REOpurchase contract.

Please feel free to contact WebTitle Agency to discuss the preparation of a discounted and expedited fullAbstract of Title following the closing of the REO transaction.

Note: Abstract of Title is not available in the following counties: Albany, Bronx, Columbia, Dutchess, Erie,Greene, Kings, Nassau, New York, Orange, Putnam, Queens, Rensselaer, Richmond, Rockland, Suffolk,Sullivan, Ulster, and Westchester




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COMMITMENT FOR TITLE INSURANCESCHEDULE A

1. Commitment Effective Date: May 14, 2017

2. Date of issuance: June 26, 2017

3. Policy (or Policies) to be issued and Proposed Insured:

Owners Policy ALTA OWNERS (6-17-06):

Proposed Insured: TBDPolicy Amount: $TBD

Loan Policy ALTA LOAN (6-17-06):

Proposed Insured: TBDPolicy Amount: $TBDBorrower(s): TBD

THIS COMMITMENT IS FURNISHED BY WEBTITLE AGENCY AS AUTHORIZED ISSUING AGENT SOLELY FOR THE ISSUANCE OF A POLICY OR POLICIES OF TITLEINSURANCE. THIS COMMITMENT IS NOT AN ABSTRACT OR AN OPINION OF TITLE. LIABILITY UNDER THIS COMMITMENT IS DEFINED BY AND LIMITED TO THE TERMSAND CONDITIONS OF THIS COMMITMENT AND THE TITLE INSURANCE POLICY TO BE ISSUED. PERSONS AND ENTITIES NOT LISTED ABOVE AS PROPOSED INSUREDSARE NOT ENTITLED TO RELY UPON THIS COMMITMENT FOR ANY PURPOSE.

4. The estate or interest in the land described or referred to in this Commitment is Fee Simple.

5. THIS COMPANY CERTIFIES that a good and marketable title to the premises described in Schedule A,subject to the liens, encumbrances and other matters, if any, set forth in this certificate may be conveyedand/or mortgaged by:

Wolf Landau

Source of Title: Bargain and Sale Deed dated September 9, 2007 by and between Wells Fargo Bank, NAsuccessor by merger to Wells Fargo Home Mortgage, Inc., Grantor, and Wolf Landau,Grantee, and recorded on September 28, 2007 in Book 1267 of Deeds, page 13.

6. The land referred to in this Commitment is described as follows:

SEE SCHEDULE “A” CONTINUED ATTACHED HERETO AND MADE A PART HEREOF

7. The land referred to in this Commitment is situated in the State of New York and is identified as follows:

Property Address: 20 Ross Road, Cairo, NY (Town of Cairo)County: GreeneSWIS Code: 192400Tax ID No. 101.06-1-3 RESIDENTIAL




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COMMITMENT FOR TITLE INSURANCESCHEDULE A




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COMMITMENT FOR TITLE INSURANCESCHEDULE B-I, REQUIREMENTS

Proposed Insured agrees to Pay and/or disburse the agreed amounts for the interest in the land to be insuredand/or according to the mortgage to be insured; Pay us the premiums, fees and charges for the policy; Pay alltaxes and/or assessments, levied and assessed against the land, which are due and payable.

In addition to the above, the following requirements must be met:

1. Any rights, interests or claims of parties in possession of the land not shown by the public records.

2. Returns, if any, of title search continuation since the effective date May 14, 2017, shown on Schedule Aherein.

3. The following endorsement(s) are to be added to the final policy: NY Standard

Note: This Company should be contacted prior to closing to provide any endorsement(s) required,and to calculate the applicable endorsement charge(s).

4. Subject to any state of facts that may be disclosed by any municipal or departmental searches. Saidsearches together with zoning issues are not covered under any title insurance policy issued.

Notice to Purchaser Attorney: Please note that the Seller does not pay for municipal searches.Unless specifically set out in the purchase and sales agreement, the contract is not subject to theresults of these searches and the buyer will be purchasing the subject property “as is”. Searchesmay take upwards of two weeks for completion. The Seller may not grant an extension for closingdue to delays in obtaining municipal search results.

5. Proof of payment of taxes, tax liens, tax sales, water rates, sewer rents, user fees and assessments:

Note: See Attached Tax Schedule Herein

6. Insurance Law Section 6409 Subsection C requires that title companies offer, at or prior to closing, anoptional policy to cover the homeowner for the FUTURE market value of the house. You may,therefore elect to obtain protection in excess of your purchase price. If you do not wish this additionalstatutory coverage, you MUST WAIVE by signing the form attached to this report.

7. Mortgage(s): ONE

Note: See Attached Mortgage Schedule Herein

8. Company requires, prior to closing, a copy of the proposed insured deed. If said deed is to be executedby the Seller using a power of attorney or by another fiduciary capacity, then Company additionallyrequires corresponding documentation granting authorization of said powers.




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9. The property which is the subject of the foreclosure action, must have been vacant for at least sixty (60)days prior to the closing date. We require an affidavit from the lender, the lender’s counsel or the realtorto that effect. The affidavit must indemnify WebTitle Agency and its Underwriter against any harm, lossor damage, including but not limited to legal fees and expenses if the property was owner-occupiedsixty (60) days prior to the closing date.

10. Title to the premises described in Schedule A herein is certified subject to Section 317 CPLR whichprovides that when a defendant is served in any manner other than by personal delivery of service tosaid defendant, with accompanying service by mail to defendant, such a defendant has the right todefend the action within one year after the defendant obtained knowledge of the judgment, but in anyevent, not to exceed five years after entry of the judgment upon finding of the court that the defendantdid not personally receive notice of the summons in time to defend, and the defendant has a meritoriousdefense.

Policy will except any loss, claim or litigation by reason of insufficiency of service on Wolf Landau inthe foreclosure action under Index No. 2012-1300.

NOTE: This exception may be passed if this Company is asked to insure a bona fide purchaser forvalue, provided that no motion to open the default of such defendant is pending, the foreclosure and salehas been properly filed, and the premises have been vacated.

Proof of vacancy is required at closing in the form of an affidavit executed by the purchaser.

11. Lis Pendens action filed in the Greene County Supreme Court on December 17, 2012 in Index No.2012-1300 in favor of HSBC Bank USA, N.A., as Plaintiff vs. Wolf Landau; “John Doe” and “JaneDoe” said names being fictitious, it being the intention of Plaintiff to designate any and all occupants ofpremises being foreclosed herein, and others, as Defendant in an action to foreclose mortgage in Liber2638, page 198, as assigned in Liber 2946, page 52. Attorney of record: Fein, Such & Crane, LLP, 28East Main Street, Suite 1800, Rochester, NY 14614.

Judgment of foreclosure and sale filed on March 30, 2017. Caption change filed on March 30, 2017,changing Plaintiff name to Federal National Mortgage Association.

Additional Lis Pendens filed December 14, 2015.

Said foreclosure action is not yet complete. The following items are required prior to closing forexamination:

a. Proof of Compliance with Soldiers and Sailors Actb. Notice of Salec. Proof of Posting and Publicationd. Referee’s Report of Salee. Terms of Salef. Referee’s Deed

Company reserves the right to raise additional exceptions and/or requirements.




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12. Searches have been run vs. the following party: Wolf Landau:

Judgments and Liens: No ReturnsNew York Northern and Southern District Bankruptcy Court: No Returns

13. Proof of payment of taxes, tax liens, tax sales, water rates, sewer rents, user fees and assessments:

POLICY WILL EXCEPT UNPAID WATER AND/OR SEWER CHARGES UNLESS FINAL READ(S)AND PROOF OF PAYMENT OF THE SAME, OR ATTORNEY GUARANTEE, ARE SUBMITTED TOTHIS COMPANY.

Guarantees by the broker or listing agent are no longer accepted.

14. The following items must be submitted to this Company following closing:

ALL Affidavits Attached to this Commitment Fully Executed HUD-1 Settlement Statement Purchaser’s Identification Seller’s Identification, if the seller is a natural person. Payment of Fee and/or Loan Premiums Recording Information of Insured Documents, if this Company is not recording the same.

In the event that WebTitle Agency, Inc. has a title closer representative attend closing on our behalf,then our closer will be responsible for arranging receipt of all information.

However, if said closing takes place without our knowledge, then it is the responsibility of theBuyer’s and Seller’s Attorney to ensure the items outlined above are returned to us along with titlefees and curatives.




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COMMITMENT FOR TITLE INSURANCE

SCHEDULE B-II, EXCEPTIONS

Any policy we issue will have the following exceptions, unless they are taken care of to our satisfaction:

1. Any rights, interests or claims of parties in possession of the land not shown by the public records.

2. Any rights, interest or claims affecting the land, that a correct survey would show, and an inspection ofthe premises would disclose.

3. No title insured to any lands lying within the bounds of any street or highway.

4. Exact acreage is not insured herein.

5. Possible covenants, easements, restrictions, coal and mineral rights, oil and gas rights, and undergroundencroachments as they may appear of record.

6. Easement and right of way set forth in deed recorded in Book 1267 of Deeds, page 13, Document No.2007-00007240.

7. Sewer easement recorded in Liber 941 of Deeds, page 230.




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COMMITMENT FOR TITLE INSURANCEMORTGAGE SCHEDULE

1. Mortgage made by Wolf Landau, as mortgagor(s) to Mortgage Electronic Registration Systems, Inc. actingsolely as a nominee for HSBC Mortgage Corporation (USA), as mortgagee in the amount of $112,000.00and interest, dated November 19, 2008 and recorded on January 2, 2009 in Volume 2638, page 198,Document No. 2009-00000014.

Assigned from Mortgage Electronic Registration Systems, Inc. as nominee for HSBC Mortgage Corporation(USA) to HSBC Bank USA, N.A. by an instrument dated January 11, 2012 and recorded on January 25,2012 in Book 2946, page 52.

Assigned from HSBC Bank USA, N.A. to Federal National Mortgage Association by an instrument datedNovember 20, 2015 and recorded on February 1, 2016 in Instrument #M2016-234.

NOTE: The above mortgage will be omitted upon review of items in Requirement No. 11, Schedule B-I.




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NOTICE OF AVAILABILITY OF MARKET VALUE RIDER

PREMISES: 20 Ross Road, Cairo, NY

Section 6409, Subdivision "C" of the Insurance Law requires that title companies offer at or prior to closing anoptional policy rider to cover the homeowner(s) for the future market value of his or her home.

Note: Said rider is only applicable to the purchase of a one family dwelling, residential condominium orresidential cooperative unit. The purchaser (i) must be a natural person, (ii) must reside at the propertypurchased, and (iii) said property must be used predominantly for residential purposes.

If you are uncertain as to whether you should purchase the market value rider, you should seek the advice ofyour Counsel.

I/We do not choose to purchase the market value rider to policy.

I/We choose to purchase the market value rider to the fee policy. We attest that we will beresiding at the premises and this is not investment property.

We understand that the cost for this is additional coverage is 10% of the fee premium, in theamount of $____________.

NOTE TO PURCHASER: PERSONAL CHECKS ARE NOT ACCEPTED. PAYMENTMUST BE MADE BY ATTORNEY CHECK, MONEY ORDER OR BANK CERTIFIEDCHECK.

PLEASE CHECK THE APPROPIATE BOX: (PAYEE: WEBTITLE AGENCY)

CERTIFIED FUNDS ARE BEING SUBMITTED HEREWITH.

WE WILL REMIT THE FUNDS TO WEBTITLE US AFTER CLOSING. WEUNDERSTAND THAT SAID FUNDS MUST BE RECEIVED WITHIN 10 BUSINESSDAYS OF CLOSING, OR FINAL POLICY WILL BE ISSUED WITHOUT THE RIDER.

Dated: _________________________ Purchaser: _________________________________________________

Dated: _________________________ Purchaser: _________________________________________________

IF ANY BOX BELOW IS CHECKED, THEN BUYER IS NOT APPLICABLE FOR ADDITIONAL COVERAGE:

Purchaser is not a natural person (i.e., LLC, Corporation, Partnership, Trust).

Purchaser will not be residing at the dwelling.

Property is commercial or vacant.




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VACANCY AFFIDAVIT

STATE OF NEW YORK COUNTY OF GREENE


I, __________________________________________________________________, being duly sworn, deposes and says:(List name and Title)

I am a party to the above referenced transaction in the following manner:

Attorney for the SellerListing Agent for the SellerEmployee of the Foreclosing LenderRepresentative for the Foreclosing Lender

I am personally familiar with the facts relating to the foreclosure and/or REO listing of the above referenced property.

I have personal knowledge by observation that said property has been vacant since the approximate date of _______________.

Said REO sale will take place by the approximate deadline date of ___________________________________.

I hereby give this undertaking and indemnity to WebTitle Agency and its Underwriter(s) to issue its Title Policy. I realizethey will rely on the truth of the statements herein contained as a basis for the issuance of the Title Policy.

In further consideration of WebTitle Agency, I agree to fully indemnify and hold WebTitle Agency forever harmless fromany loss, liens, claims, costs, expenses (including, but not limited to court cost, legal fees and expenses which WebTitleAgency may incur in enforcing this indemnification), or damage which WebTitle Agency may incur because of or arisingfrom this Agreement, or as a result of WebTitle Agency’s acceptance of and reliance upon this undertaking.

Date: ____________________ By: ____________________________________________________Signature of Deponent

On the __________________ day of _____________________________________ in the year ______________________, before me,

the undersigned, personally appeared_______________________________________________, known to me or proved to me on the

basis of satisfactory evidence to be the individual(s) whose name(s) is (are) subscribed to the within instrument and acknowledged to me

that he/she/they executed the same in his/her/their capacity(ies), and that by his/her/their signature(s) on the instrument, the individual(s),

or the person on behalf of which the individual(s) acted, executed the instrument.

_______________________________________Notary Public

Commission Expires: _____________________




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PURCHASER AFFIDAVIT



PURCHASER(S):

I/We, , being duly sworn deposes and say:

1. That I am/We are this day purchasing the real estate referenced above.

2. That I am/We are a citizen/legal resident of the United States, of legal age, and have not been known by any othername for the past ten years except: _______________________________.

3. That there are no Judgments, Liens, Federal or State Tax Claims filed against me/us in any court of this state orany other state under either name except: _______________________________.

4. No proceeding in bankruptcy has ever been instituted by or against me/us in any other court or before any officerof any state of the United States, nor have, at any time, made an assignment for the benefit of creditors, nor anassignment, now in effect, of the rents of said premises or any part therefore under either name.

5. I/We do not have any relationship with the previous, foreclosed owner(s), Wolf Landau.

6. I/We can attest by personal observation by my last property walk through that the subject property is currentlyvacant.

That this affidavit is executed to induce WebTitle Agency and its Underwriter(s) to issue its policy of title insurancecovering said premises, knowing that they will rely on the statements herein made are true.

Dated: ________________________________

Printed Name: Printed Name:

On the ____________ day of __________________ in the year ________, before me, the undersigned, personally appeared

_________________________________, known to me or proved to me on the basis of satisfactory evidence to be the

individual(s) whose name(s) is (are) subscribed to the within instrument and acknowledged to me that he/she/they executed

the same in his/her/their capacity(ies), and that by his/her/their signature(s) on the instrument, the individual(s), or the

person on behalf of which the individual(s) acted, executed the instrument.

_______________________________________Notary Public

Commission Expires: _____________________




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LLC AFFIDAVIT



1. ___________________________, ("Deponents") individually and as a member(s) and/or manager(s) of______________________, a New York limited liability company ("Purchaser"), being duly sworn, deposes and says:

2. Deponent(s) is/are citizens of the United States of America; that they are over the age of twenty-one years, and is/are amember(s) and/or manager(s) of ___________________, a duly created limited liability company, organized andexisting under and by virtue of the Laws of the State of New York, with its principal office located at______________________________________, New York, and that Deponents, as such member(s)/manager(s), is/areduly authorized to make this affidavit.

3. That the articles of organization of __________________________________ were duly published for six (6)consecutive weeks in _________________________________ on __________________________, 20_____ andproof thereof was duly filed in the office of the New York Secretary of State and that Buyer is now in good standingthereunder. That the articles of organization have not been modified since its formation.

4. Check the one that applies:

That I am the sole member/manager of said LLC and no other person or entity has anyownership interest in (or claim against any member's interest in) said LLC. As sole member/manager, Iauthorize the purchase of the subject premises herein.

That I am not the sole member/manager. Other members are stated here: _____________________.

5. That there are no judgments, injunctions, decrees, attachments, or orders of any court for the payment of moneyagainst said LLC or to which it is a party, unsatisfied or not cancelled of record in any of the federal or state courts ofthe United States of America or any suit or proceeding pending anywhere affecting the Property.

6. That no case or proceeding in bankruptcy has ever been instituted by or against said LLC or any of its members in anyfederal or state court of the United States of America nor has said LLC at any time made an assignment for the benefitof creditors. No filing in bankruptcy is contemplated by said LLC.

7. Deponent(s) does/do not have any relationship with the previous, foreclosed owner(s): .

8. Deponent(s) can attest by personal observation during last property walk through that subject property is currently vacant.

That no statement of fact has been omitted by Deponent(s) from this affidavit which would make this affidavit misleadingor incorrect, or which, with the mere passage of time, would make this affidavit misleading or incorrect. This affidavit isintended to be relied on by induce WebTitle Agency and its Underwriter(s) to issue a policy of insurance covering theabove stated premises.

______________________________________________ Dated: ________________Member/Manager

On the __________________ day of ____________________________________ in the year _________________, before me, theundersigned, personally appeared______________________________________, known to me or proved to me on the basis ofsatisfactory evidence to be the individual(s) whose name(s) is (are) subscribed to the within instrument and acknowledged to me thathe/she/they executed the same in his/her/their capacity(ies), and that by his/her/their signature(s) on the instrument, the individual(s), orthe person on behalf of which the individual(s) acted, executed the instrument.

_______________________________________ Commission Expires: _____________________Notary Public




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NOTICES

All of the recording information contained herein refers to the Public Records of the County shown on ScheduleA herein, unless otherwise indicated. Any reference herein to a Book and Page is a reference to the OfficialRecord Books of said county, unless indicated to the contrary.

All notices required to be given and any statement in writing required to be furnished by the Company or to theCompany shall include the number of this policy.

WebTitle Agency cares about its customers and their ability to obtain information and service on a convenient,timely and accurate basis. A qualified staff of service representatives is dedicated to serving you. A toll-freenumber is available for your convenience in obtaining information about coverage and to provide assistance inresolving complaints at 1-866-932-6322. Office hours are from 8:00 a.m. through 5:00 p.m. Monday throughFriday.




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PRIVACY POLICY

We Are Committed to Safeguarding Customer Information

In order to better serve your needs now and in the future, we may ask you to provide us with certain information. Weunderstand that you may be concerned about what we will do with such information - particularly any personal or financialinformation. We agree that you have a right to know how we will utilize the personal information you provide to us.Therefore, together with our Underwriter, we have adopted this Privacy Policy to govern the use and handling of yourpersonal information.

Applicability

This Privacy Policy governs our use of the information that you provide to us. It does not govern the manner in which wemay use information we have obtained from any other source, such as information obtained from a public record or fromanother person or entity.

Types of Information

Depending upon which of our services you are utilizing, the types of nonpublic personal information that we may collectinclude:

Information we receive from you on applications, forms and in other communications to us, whether in writing, inperson, by telephone or other means.

Information about your transactions with us, our affiliated companies, or others; and Information we receive from a consumer reporting agency.

Use of Information

We request information from you for our own legitimate business purposes and not for the benefit of any nonaffiliatedparty. Therefore, we will not release your information to nonaffiliated parties except: (1) as necessary for us to provide theproduct or service you have requested of us; or (2) as permitted by law. We may, however, store such informationindefinitely, including the period after which any customer relationship has ceased. Such information may be used for anyinternal purpose, such as quality control efforts or customer analysis. We may also provide all of the types of nonpublicpersonal information listed above to one or more of our affiliated companies. Such affiliated companies include financialservice providers, such as title insurers, property and casualty insurers, and trust and investment advisory companies, orcompanies involved in real estate services, such as appraisal companies, home warranty companies, and escrowcompanies. Furthermore, we may also provide all the information we collect, as described above, to companies thatperform marketing services on our behalf, on behalf of our affiliated companies, or to other financial institutions withwhom we or our affiliated companies have joint marketing agreements.

Former Customers

Even if you are no longer our customer, our Privacy Policy will continue to apply to you.

Confidentiality and Security

We will use our best efforts to ensure that no unauthorized parties have access to any of your information. We restrictaccess to nonpublic personal information about you to those individuals and entities who need to know that information toprovide products or services to you. We will use our best efforts to train and oversee our employees and agents to ensurethat your information will be handled responsibly and in accordance with this Privacy Policy. We currently maintainphysical, electronic, and procedural safeguards that comply with federal regulations to guard your nonpublic personalinformation.




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