20201149 Ver 2_Title Commitment_20211001

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20201149
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Katie Merritt
Initial Review Completed Date 10/04/2021
Mitigation Project Submittal - 10/1/2021
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Chris Santelle
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20201149
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Project Type: r DMS C•' Mitigation Bank
Project Name: Wolf King
County: Wayne
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Bennett Property (Wolf King) - Conservation
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Easement - DRAFT - 2021.9.30.pdf
Bennett Property (Wolf King) - Conservation
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Easement - Redline - DRAFT - 2021.9.30.pdf
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2021.9.27.pdf
Bennett Property (Wolf King) - Title
Commitment.PDF
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Christopher Santelle

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Chicago Title Insurance Company ALTA Commitment for Title Insurance
Commitment Number: 20-11171DU Revision #1 July 21, 2020
ALTA COMMITMENT FOR TITLE INSURANCE
Issued by
CHICAGO 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,
Chicago Title Insurance Company, a Florida corporation (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 six (6) months after the Commitment Date, this
Commitment terminates and the Company's liability and obligation end.
Chicago Title Insurance Company
By:
Countersigned By: Attest:
Angela M. Curtis
Authorized Officer or Agent
President
>(7Z 7-
Secretary
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; Schedule B, Part II -Exceptions; and a counter -signature by the
Company or its issuing agent that may be in electronic form.
Copyright American Land Title Association. All rights reserved.
The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as
of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association.
AMERICAN
LAND TITLE
ASSOCIATION
ALTA Commitment for Title Insurance (08-01-16)
101046D0024.doc / Updated: 02-13-19 Page 1
Printed: 07-21-20 @ 08:53 AM
NC-CT-FSAC-01080.365396-20-11171 DU

Chicago Title Insurance Company ALTA Commitment for Title Insurance
Commitment Number: 20-11171DU Revision #1 July 21, 2020
Transaction Identification Data for reference only:
Issuing Office: Chicago Title Company, LLC, 300 Blackwell Street, Suite 103, Durham, NC 27701
Phone: [phone]
Fax: [phone]
Commitment Number: 20-11171 DU
Property Address: Tract 1: 0 Bennett Road, Goldsboro, NC 27530
Tract 2,
SCHEDULE A
1. Commitment Date: July 3, 2020 at 05:00 PM
2. Policy to be issued:
(a) ALTA Owner's Policy (06-17-06)
Proposed Insured: Environmental Banc & Exchange, LLC
Proposed Policy Amount: $100,000.00
3. The estate or interest in the Land described or referred to in this Commitment is:
Fee Simple
4. Title to the Fee Simple estate or interest in Land is at the Commitment Date vested in:
Jack Rose Bennett and Clark Hood Bennett
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; Schedule B, Part II -Exceptions; and a counter -signature by the
Company or its issuing agent that may be in electronic form.
Copyright American Land Title Association. All rights reserved.
The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as
of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association.
AMERICAN
LAND TITLE
ASSOCIATION
ALTA Commitment for Title Insurance (08-01-16) Printed: 07-21-20 @ 08:53 AM
101046D0024.doc / Updated: 02-13-19 Page 2
NC-CT-FSAC-01080.365396-20-11171 DU

Chicago Title Insurance Company ALTA Commitment for Title Insurance
Commitment Number: 20-11171DU Revision #1 July 21, 2020
5. The Land is described as follows:
Lying and being situate in Wayne County, North Carolina, and being more particularly described as
follows:
TRACT 1:
Beginning at a stake in Grover Hood's Estate line and runs with said line S. 74 E. 577 feet to an iron stake
in the ditch; thence with said line S. 5 W. 447 feet to an iron stake; thence S. 2 E. 310 feet to center of
public road; thence with said line and public road N. 87 E. 763 (probably should be S. 87 W. 763 feet) feet
to a stake at the corner of Fred Hood and Durwood Hood; thence with said line N. 15 E. 876 feet to the
beginning, containing 13 acres, more or less. And being Tract 1 in the Deed to Jack Rose Bennett and
Clark Hood Bennett dated March 9, 1993 and recorded in Book 1366, Page 805 of the Wayne County
Registry. Also being Tract 1 in the Deed to Jack Rose Bennett and Clark Hood Bennett dated January 16,
2013 and recorded in Book 2988, Page 202 of the Wayne County Registry.
TRACT 2:
Beginning at an iron stake in the center of the Old John Warrick road and runs in a northerly direction with
the center of said road to an iron stake in the center of said road 370 feet; thence in a easterly direction
with Manford Hood's line 155 feet to an iron stake; thence in a southerly line 360 feet to an iron stake;
thence in a westerly direction 155 feet to the iron stake in the center of the Old John Warrick road, the
point of beginning, containing one acre, more or less. And being Tract 2 in the Deed to Jack Rose
Bennett and Clark Hood Bennett dated March 9, 1993 and recorded in Book 1366, Page 805 of the
Wayne County Registry. Also being Tract 2 in the Deed to Jack Rose Bennett and Clark Hood Bennett
dated January 16, 2013 and recorded in Book 2988, Page 202 of the Wayne County Registry.
LESS, EXCEPT and EXCLUDING the following tract or parcel of land:
BEGINNING at a PK nail found in the centerline of N.C.S.R. 1210 (Bennett Rd.), said nail being the
southwestern corner of the Edward Fields and wife Merlene Fields property, Deed Book 1192, Page 657,
said point also being located N. 86° 20' 00" W. 878.10 feet from a nail found in the centerline intersection
of N.C.S.R. 1210 and N.C.S.R 1006 (Grantham School Rd.); thence from the beginning and with the
centerline of N.C.S.R. 1210 N. 86° 20' 00" W. 122.46 feet to a PK nail set in said road center; thence
leaving the centerline of said road a new line N. 00° 15' 14" W. 30.07 feet to a iron stake set on said road
right-of-way; thence continuing N. 00° 15' 14" W. 105.00 feet to an iron stake set, a new corner; thence a
new line N. 86° 20' 00" W. 49.33 feet to an iron stake set, a new corner; thence a new line N. 00° 15' 14"
W. 188.52 feet to a iron stake set, a new corner; thence a new line S. 86° 20 ' 00" E. 156.23 feet to an iron
stake set on the bank of a ditch; thence continuing S. 86° 20' 00" E. 7.59 feet to a point in the centerline of
said ditch, a new corner, and also being in the line of the Manfred J. Hood Jr. and wife, Gail G. Hood
property, Deed Book 1430, Page 564; thence with the centerline of said ditch, and with Hood's line S. 06°
14' 00 W. 19.32 feet to a point in said ditch; thence continuing with said ditch and Hood's line S. 02° 24'
00" E. 124.32 feet to a point in said ditch, Hood's' southwestern corner, and also being Edwards Fields
and wife, Merlene Fields, Deed Book 1192, Page 657 northwestern property corner; thence continuing
with said ditch, and with Fields western line S. 02° 24' 00" E. 68.46 feet to a point in said ditch; thence
continuing with said ditch and Fields' western line S. 01 ° 44' 15" E. 82.20 feet to an iron stake set in said
ditch centerline and on the northern right-of-way of N.C.S.R. 1210; thence continuing S. 01 ° 44' 15" E.
30.13 feet to a PK nail found in the centerline of N.C.S.R. 1210, the point of beginning, containing 1.08
acres (1.00 acres excluding the right-of-way) more or less. And being the property conveyed to Paul E.
Bennett by Deed dated August 21, 1996 and recorded in Book 1548, Page 415 of the Wayne County
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; Schedule B, Part II -Exceptions; and a counter -signature by the
Company or its issuing agent that may be in electronic form.
Copyright American Land Title Association. All rights reserved.
The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as
of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association.
AMERICAN
LAND TITLE
ASSOCIATION
ALTA Commitment for Title Insurance (08-01-16) Printed: 07-21-20 @ 08:53 AM
101046D0024.doc / Updated: 02-13-19 Page 3
NC-CT-FSAC-01080.365396-20-11171 DU

Chicago Title Insurance Company ALTA Commitment for Title Insurance
Commitment Number: 20-11171DU Revision #1 July 21, 2020
Registry.
END OF SCHEDULE A
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; Schedule B, Part II -Exceptions; and a counter -signature by the
Company or its issuing agent that may be in electronic form.
Copyright American Land Title Association. All rights reserved.
The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as
of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association.
AMERICAN
LAND TITLE
ASSOCIATION
ALTA Commitment for Title Insurance (08-01-16) Printed: 07-21-20 @ 08:53 AM
101046D0024.doc / Updated: 02-13-19 Page 4
NC-CT-FSAC-01080.365396-20-11171 DU

Chicago Title Insurance Company ALTA Commitment for Title Insurance
Commitment Number: 20-11171DU Revision #1 July 21, 2020
SCHEDULE B, PART I
Requirements
All of the following Requirements must be met:
1. The Proposed Insured must notify the Company in writing of the name of any party not referred to in this
Commitment who will obtain an interest in the Land or who will make a loan on the Land. The Company may then
make additional Requirements or Exceptions.
2. Pay the agreed amount for the estate or interest to be insured.
3. Pay the premiums, fees, and charges for the Policy to the Company.
4. Documents satisfactory to the Company that convey the Title or create the Mortgage to be insured, or both, must
be properly authorized, executed, delivered, and recorded in the Public Records.
(A deed of trust securing a one -to -four -family residential property must be recorded prior to disbursement of funds.
A deed of trust securing non one -to -four family residential property that will be recorded more than 30 days
following funding of the loan requires PRIOR approval of Company's underwriting counsel.)
a. Warranty Deed from Jack Rose Bennett and Clark Hood Bennett and spouse/their respective spouses, if
any, to Environmental Banc & Exchange, LLC.
5. Cancellation, release, termination, discharge, or satisfaction of record of the following: (In the event the lien to be
cancelled or satisfied is a line of credit such as a home equity line or future advance loan secured by a deed of
trust, attorney to verify as applicable under North Carolina law: (i) delivery of borrower's written request and notice
to lender to terminate borrower's account, (ii) payoff in full of all outstanding sums secured by the deed of trust,
and (iii) release of the Land from or cancellation of public record of the deed of trust.)
a. NONE
6. Payment of all taxes (including deferred taxes) and assessments (pending or confirmed) which are or may
become a lien on the Land and are due OR payable at time of recording of the instrument creating the interest to
be insured.
7. Payment of any owners' association dues, charges, or assessments claimed or due and payable at time of
recording of the instrument creating the interest to be insured, whether or not a claim of lien has been filed, if
same are or may become a lien superior to the interest to be insured.
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; Schedule B, Part II -Exceptions; and a counter -signature by the
Company or its issuing agent that may be in electronic form.
Copyright American Land Title Association. All rights reserved.
The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as
of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association.
AMERICAN
LAND TITLE
ASSOCIATION
ALTA Commitment for Title Insurance (08-01-16) Printed: 07-21-20 @ 08:53 AM
101046D0024.doc / Updated: 02-13-19 Page 5
NC-CT-FSAC-01080.365396-20-11171 DU

Chicago Title Insurance Company ALTA Commitment for Title Insurance
Commitment Number: 20-11171DU Revision #1 July 21, 2020
8. Receipt of applicable NCLTA form below (or substantially similar form approved by Company), completed,
executed and notarized, as follows:
NO RECENT (last 120 days) OR CONTEMPLATED CONSTRUCTION:
NCLTA FORM 1 (Owner Affidavit) from every seller (on sale) or borrower (on refinance) who has not contracted
for recent or contemplated improvements on the Land or for a construction loan.
NOTE: If a contract purchaser has contracted for or is contemplating improvements, see "CONSTRUCTION
CONTEMPLATED OR IN PROCESS" below.
RECENTLY COMPLETED IMPROVEMENTS:
Non -MLA project: NCLTA FORM 2 (Owner/Contractor Affidavit, Lien Waiver, and Indemnity) from every Owner
and every Contractor.
MLA project:
(1) Receipt of proof satisfactory to the Company that prior to closing or prior to first contracting for construction
(whichever occurs first),
(a) A Lien Agent was designated on the LiensNC.com website, AND
(b) The Appointment of Lien Agent was posted at the Land.
(2) NCLTA FORM 5 (Owner Affidavit) from every Owner; AND
(3) NCLTA FORM 6 (MLA Lien Waiver) from every PLC -MLA.
CONSTRUCTION CONTEMPLATED OR IN PROCESS:
Non -MLA project: NCLTA FORM 3 (Owner/Contractor Affidavit, Indemnity and Lien Subordination) (for lender
coverage only) from every Owner and every Contractor.
MLA project:
(1) Receipt of proof satisfactory to the Company that prior to closing or prior to first contracting for construction
(whichever occurs first):
(a) A Lien Agent was designated on the LiensNC.com website, AND
(b) The Appointment of Lien Agent was posted at the Land;
(2) NCLTA FORM 5 (Owner Affidavit) from every Owner; AND;
(3) NCLTA FORM 6 (MLA Lien Waiver) or NCLTA FORM 7 (MLA Subordination of Liens) from every PLC -MLA.
NOTE: If a contract purchaser has contracted for or is contemplating improvements prior to closing, see "NO
RECENT IMPROVEMENTS" above regarding seller lien affidavits as well.
MLA Proiect - MLA NOT Appointed Prior to Contracting for Labor Services or Materials:
In all cases in which an MLA was required but not (timely) appointed, prior approval and terms of coverage (if any)
by Company underwriting counsel is required.
Applicable Definitions:
"Non -MLA Projects": Improvements are (1) first contracted before April 1, 2013, (2) for a value less than $30,000
OR (3) solely for improvements to owner's existing residence. All other projects (other than public projects) are
"MLA projects".
"Owner" is holder of any interest in the Land, including leasehold owner or contract purchaser.
"Potential Lien Claimant" (or "PLC - MLA") is any person (or entity) entitled to file a claim of lien on real property
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; Schedule B, Part II -Exceptions; and a counter -signature by the
Company or its issuing agent that may be in electronic form.
Copyright American Land Title Association. All rights reserved.
The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as
of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association.
AMERICAN
LAND TITLE
ASSOCIATION
ALTA Commitment for Title Insurance (08-01-16) Printed: 07-21-20 @ 08:53 AM
101046D0024.doc / Updated: 02-13-19 Page 6
NC-CT-FSAC-01080.365396-20-11171 DU

Chicago Title Insurance Company ALTA Commitment for Title Insurance
Commitment Number: 20-11171DU Revision #1 July 21, 2020
(herein "Liens"), for providing labor, services, (including design professionals such as surveyors, architects,
engineers and landscape engineers), materials or rental equipment provided for improvements to the Land (herein
"Improvements"), pursuant to Article 2 of Chapter 44A of the North Carolina General Statutes AND who either
has filed a Notice to Lien Agent, OR was identified in the original Appointment, OR is a Design Professional OR is
a PLC whose first furnishing was within 15 days prior to closing OR (for waivers) delivered a claim of lien upon
funds on the Owner.
"Contractor" Any person or entity who has performed or furnished or has contracted to perform or furnish Labor,
Services or Materials pursuant to a contract, either express or implied, with the Owner of real property for the
making of an Improvement thereon OR who has delivered a claim of lien upon funds to the Owner.
9. If the transaction involves the purchase of property at foreclosure, the purchase of real estate owned (REO) by a
lender/servicer, or the subsequent resale or mortgage of property where the grantor or mortgagor was a purchaser
of REO property; verification that the defaulted borrower in the foreclosure proceeding, or anyone claiming by,
through or under him, is not occupying or in possession of the foreclosed property.
10. IN THE EVENT THAT, AT TIME OF CLOSING, THE REGISTER OF DEEDS HAS DISCONTINUED ALL
RECORDING OR THE ABILITY TO EXAMINE OR UPDATE PUBLIC RECORDS IS PREVENTED BY
CORONAVIRUS STATE OF EMERGENCY OFFICE CLOSURES, BUT ALL PARTIES DESIRE TO CLOSE
BEFORE DELAYED RECORDING WHEN REGISTER RESUMES RECORDING, CONTACT THE COMPANY
FOR FURTHER REQUIREMENTS.
11. The Proposed Policy Amount(s) must be increased to the full value of the estate or interest being insured, and any
additional premium must be paid at that time. An Owner's policy should reflect the purchase price of the Land. A
Loan Policy should reflect the loan amount. Proposed Policy Amount(s) will be revised and premiums charged
consistent therewith when the final amounts are approved.
12. Receipt of recording information (book and page number) for Exception no. 9 under Schedule B, Part II of this
Commitment. INTENTIONALLY DELETED JULY 21, 2020
END OF SCHEDULE B, PART I
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; Schedule B, Part II -Exceptions; and a counter -signature by the
Company or its issuing agent that may be in electronic form.
Copyright American Land Title Association. All rights reserved.
The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as
of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association.
AMERICAN
LAND TITLE
ASSOCIATION
ALTA Commitment for Title Insurance (08-01-16) Printed: 07-21-20 @ 08:53 AM
101046D0024.doc / Updated: 02-13-19 Page 7
NC-CT-FSAC-01080.365396-20-11171 DU

Chicago Title Insurance Company ALTA Commitment for Title Insurance
Commitment Number: 20-11171DU Revision #1 July 21, 2020
SCHEDULE B, PART II
Exceptions
THIS COMMITMENT DOES NOT REPUBLISH ANY COVENANT, CONDITION, RESTRICTION, OR LIMITATION
CONTAINED IN ANY DOCUMENT REFERRED TO IN THIS COMMITMENT TO THE EXTENT THAT THE SPECIFIC
COVENANT, CONDITION, RESTRICTION, OR LIMITATION VIOLATES STATE OR FEDERAL LAW BASED ON RACE,
COLOR, RELIGION, SEX, SEXUAL ORIENTATION, GENDER IDENTITY, HANDICAP, FAMILIAL STATUS, OR
NATIONAL ORIGIN.
The Policy will not insure against loss or damage resulting from the terms and provisions of any lease or easement
identified in Schedule A, and will include the following Exceptions unless cleared to the satisfaction of the Company:
1. Any defect, lien, encumbrance, adverse claim, or other matter that appears for the first time in the Public Records
or is created, attaches, or is disclosed between the Commitment Date and the date on which all of the Schedule B,
Part I - Requirements are met.
2. Taxes or assessments for the year 2020, and subsequent years, not yet due or payable.
3. Right of way to the State Highway Commission recorded in Book 699, Page 173, Wayne County Registry.
4. Right(s) of way to Carolina Power and Light Company recorded in Book 700, Page 212; Book 781, Page 328 and
Book 918, Page 577, Wayne County Registry.
5. The Land shall not be deemed to include any house trailer, manufactured home, mobile home, or mobile dwelling
on the land.
6. Rights of others in and to the continuous and uninterrupted flow of the waters bounding or crossing the Land and
riparian and/or littoral rights incident to the Land.
7. Title to any portion of the Land lying within the right of way of Old John Warrick Road.
8. Any discrepancy, conflict, matters regarding access, shortage in area or boundary lines, encroachment,
encumbrance, violation, variation, overlap, setback, easement or claims of easement, riparian right, and title to
land within roads, ways, railroads, watercourses, burial grounds, marshes, dredged or filled areas or land below
the mean highwater mark or within the bounds of any adjoining body of water, or other adverse circumstance
affecting the Title that would be disclosed by a current inspection and accurate and complete land survey of the
Land.
9.
spouse/their respective spouses, if any, to Environmental Banc 8. Exchange, LLC recorded in Book , Page-
, Wayne County Registry. INTENTIONALLY DELETED JULY 21, 2020
END OF SCHEDULE B, PART II
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; Schedule B, Part II -Exceptions; and a counter -signature by the
Company or its issuing agent that may be in electronic form.
Copyright American Land Title Association. All rights reserved.
The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as
of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association.
AMERICAN
LAND TITLE
ASSOCIATION
ALTA Commitment for Title Insurance (08-01-16) Printed: 07-21-20 @ 08:53 AM
101046D0024.doc / Updated: 02-13-19 Page 8
NC-CT-FSAC-01080.365396-20-11171 DU

Chicago Title Insurance Company ALTA Commitment for Title Insurance
Commitment Number: 20-11171DU Revision #1 July 21, 2020
REMARKS
NO CLOSING SERVICES INSURANCE: As to the transaction for which this Commitment is issued, the Company
does not afford insured closing protection/closing services insurance absent revision of this Commitment to
include a statement that coverage is afforded to those parties identified in a separate closing protection letter
issued simultaneously with revision of the Commitment. Any closing protection coverage or letter which heretofore
may have been issued is hereby rescinded and shall not be effective as to this transaction. Any closing protection
letter subsequently issued shall not be effective as to this transaction absent the accompanying requisite revision
of this Commitment.
END OF REMARKS
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; Schedule B, Part II -Exceptions; and a counter -signature by the
Company or its issuing agent that may be in electronic form.
Copyright American Land Title Association. All rights reserved.
The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as
of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association.
AMERICAN
LAND TITLE
ASSOCIATION
ALTA Commitment for Title Insurance (08-01-16) Printed: 07-21-20 @ 08:53 AM
101046D0024.doc / Updated: 02-13-19 Page 9
NC-CT-FSAC-01080.365396-20-11171 DU

Chicago Title Insurance Company ALTA Commitment for Title Insurance
Commitment Number: 20-11171DU Revision #1 July 21, 2020
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 Schedule A as the Proposed Policy Amount of each Policy to be issued pursuant
to this Commitment.
"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 this 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.
(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.
(g)
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; Schedule B, Part II -Exceptions; and a counter -signature by the
Company or its issuing agent that may be in electronic form.
Copyright American Land Title Association. All rights reserved.
The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as
of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association.
AMERICAN
LAND TITLE
ASSOCIATION
ALTA Commitment for Title Insurance (08-01-16) Printed: 07-21-20 @ 08:53 AM
101046D0024.doc / Updated: 02-13-19 Page 10
NC-CT-FSAC-01080.365396-20-11171 DU

Chicago Title Insurance Company ALTA Commitment for Title Insurance
Commitment Number: 20-11171DU Revision #1 July 21, 2020
(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 -Exception 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 Two Million And No/100 Dollars
($2,000,000.00) 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.oro/arbitration.
END OF CONDITIONS
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; Schedule B, Part II -Exceptions; and a counter -signature by the
Company or its issuing agent that may be in electronic form.
Copyright American Land Title Association. All rights reserved.
The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as
of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association.
AMERICAN
LAND TITLE
ASSOCIATION
ALTA Commitment for Title Insurance (08-01-16) Printed: 07-21-20 @ 08:53 AM
101046D0024.doc / Updated: 02-13-19 Page 11
NC-CT-FSAC-01080.365396-20-11171 DU