SW1240601_Deed Restriction/Protective Covenant Form_20241029

Chicago Title Insurance Company ALTA Commitment for Title Insurance
Commitment Number: 23-12867DU
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 Amount of Insurance 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:
)141V-.Q
Michael J. Nolan, President
Countersigned By: Attest:
304145r—i2-- -2,(47aze
Adam Lange, Authorized Signatory Marjorie Nemzura, Secretary
Authorized Officer or Agent
This page is only a part of a 2021 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. IAN]) "
ANI)I I I11:
^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.
ALTA Commitment for Title Insurance(07-01-2021) Printed: 10-18-23 @ 03:19 PM
101046D0109.doc/Updated: 09.12.22 Page 1 NC-CT-FSAC-01080.365396-23-12867DU

Chicago Title Insurance Company ALTA Commitment for Title Insurance
Commitment Number: 23-12867DU
Transaction Identification Data, for which the Company assumes no liability as set forth in Commitment
Condition 5.e.:
Issuing Office: Chicago Title Company, LLC, 300 Blackwell Street, Suite 103, Durham, NC 27701
Phone: [phone]
Fax: [phone]
Commitment Number: 23-12867DU
SCHEDULE A
1. Commitment Date: October 12, 2023 at 05:00 PM
2. Policy to be issued:
(a) ALTA Owner's Policy(07-01-2021)
Proposed Insured: Emerald Villas NC LLC, a North Carolina limited liability company
Proposed Amount of Insurance: $250,000.00
The estate or interest to be insured: Fee Simple
(b) ALTA Loan Policy(07-01-2021)
Proposed Insured: North Carolina Housing Finance Agency, and/or its successors and assigns,
as their interests may appear
Proposed Amount of Insurance: $237,500.00
The estate or interest to be insured: Fee Simple
3. The estate or interest in the Land at the Commitment Date is:
Fee Simple
4. The Title is, at the Commitment Date, vested in:
Ray Steven Brown
5. The Land is described as follows:
Lying and being situate in Rutherford County, North Carolina, and being more particularly described as
follows:
BEGINNING on a stake, Bettie Matthews corner, also corner of lots no. 11 and 12 as shown on the map of
the Hamilton division, as recorded in Special Proceedings Book No. "L"at Page 280, located in the Office
of the Clerk of Superior Court of Rutherford, North Carolina, and runs thence with Bettie Matthews line S, 8
1/2 deg. E. 381 feet to three small oaks, her corner; thence, with another of her lines, S.42 deg. E. 188
feet to a stake, her corner; thence, S. 72 deg, E, 1E4 feet to a stake, the Southwest corner of lot no. 14 of
the map hereinabove referred to; thence,with the dividing line of lot no. 13 and 14 of said map, N. 784 feet
to a stake; thence, N. 71 1/4 deg. W.218 feet to a stake, the Northwest corner of lot no. 4 of the map
hereinabove referred to; thence, S, 25 deg.,W. 327 feet to the BEGINNING, and being the same tract of
land heretofore listed as lot no. 2, on sheet No. R 16 of the Tax Maps of Rutherford Township, Rutherford
County, North Carolina.
[Updated Legal Description to be provided prior to closing.]
END OF SCHEDULE A
This page is only a part of a 2021 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. IAN]) "
ANI)I I I11:
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.
ALTA Commitment for Title Insurance(07-01-2021) Printed: 10-18-23 @ 03:19 PM
101046D0109.doc/Updated: 09.12.22 Page 2 NC-CT-FSAC-01080.365396-23-12867DU

Chicago Title Insurance Company ALTA Commitment for Title Insurance
Commitment Number: 23-12867DU
This page is only a part of a 2021 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. IAN]) "
ANI)I I I11:
^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.
ALTA Commitment for Title Insurance(07-01-2021) Printed: 10-18-23 @ 03:19 PM
101046D0109.doc/Updated: 09.12.22 Page 3 NC-CT-FSAC-01080.365396-23-12867DU

Chicago Title Insurance Company ALTA Commitment for Title Insurance
Commitment Number: 23-12867DU
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 Ray Steven Brown and wife, Jeanette Augustus Brown to Emerald Villas NC LLC, a
North Carolina limited liability company.
b. Deed of trust from the authorized manager(s)of Emerald Villas NC LLC to a trustee for North Carolina
Housing Finance Agency securing the Proposed Amount of Insurance of the Loan Policy.
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.
***TAXES TO BE PAID AT CLOSING***
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 2021 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. IAN]) "
ANI)I I I11:
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.
ALTA Commitment for Title Insurance(07-01-2021) Printed: 10-18-23 @ 03:19 PM
101046D0109.doc/Updated: 09.12.22 Page 4 NC-CT-FSAC-01080.365396-23-12867DU

Chicago Title Insurance Company ALTA Commitment for Title Insurance
Commitment Number: 23-12867DU
8. For insurance for Proposed Insured(s) identified in Schedule A(other than the Owner contracting for the
Improvements)against loss resulting from Liens for Improvements, 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
and such additional parties as may be required by the Company.
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 Project - 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": Improvement projects for which no Lien Agent is required to be designated pursuant to
Article 2 of Chapter 44A of the North Carolina General Statutes. 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.
This page is only a part of a 2021 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. IAN]) "
ANI)I I I11:
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.
ALTA Commitment for Title Insurance(07-01-2021) Printed: 10-18-23 @ 03:19 PM
101046D0109.doc/Updated: 09.12.22 Page 5 NC-CT-FSAC-01080.365396-23-12867DU

Chicago Title Insurance Company ALTA Commitment for Title Insurance
Commitment Number: 23-12867DU
"Potential Lien Claimant" (or"PLC- MLA") is any person (or entity)entitled to file a claim of lien on real property
(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 coverage is to include the priority as of the date of recording of the insured deed of trust(Insured Mortgage)for
advances made after recording, the deed of trust must include notice that it will secure future obligations (including
revolving line of credit, if applicable), state the maximum principal amount and, as applicable, state either(1)that
all future obligations must be incurred within 30 years from the date thereof(in compliance with NCGS 45-67 et
seq.)for future advance or construction loan transactions or(2)that it secures an equity line of credit and is
governed by the provisions of Chapter 45, Article 9 of the North Carolina General Statutes (NCGS 45-81 et seq.)
for an equity line of credit.
10. 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.
11. Prior approval in writing of Company underwriting counsel required for any document affecting Title to the Land
notarized by either(1) any remote notarization or(2) notarization of execution by any principal located outside of
the United States at the time of execution.
12. If at the time of closing, records in the Clerk of Court's office potentially affecting Title to the Land are affected by
computer migration from VCAP to e-Courts Odyssey Portal, and if coverage is requested without exception for any
matters filed with the Clerk's office during this period in which the attorney's ability to search these records is
impacted, the following are required:
(1) attorney's certification of examination of the VCAP Portal immediately prior to the migration;
(2) attorney's certification of examination of the e-Court Odyssey Portal according to the most current search
standards available; and
(3) receipt of fully executed NCLTA form "Affidavit of Understanding and Indemnity and Hold Harmless
Agreement Regarding Computer Data Migration (VCAP to e-Courts Odyssey Portal)"or satisfactory equivalent
approved in advance by Company counsel.
13. For issuance of survey coverage: Company must be provided with a current surveyor's report and survey of the
Land bearing the signature and seal of a licensed North Carolina surveyor and prepared in accordance with North
Carolina standards for surveys of land or the Minimum Standard Detail Requirements for ALTA/NSPS Land Title
Surveys.
14. Verification as of closing of(1)the due organization and good standing of Emerald Villas NC LLC (herein "Entity")
in its state or country of organization and (2) authority of individual(s) executing documents on behalf of Entity to
enter into the transaction to be insured on its behalf.
This page is only a part of a 2021 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. IAN]) "
ANI)I I I11:
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.
ALTA Commitment for Title Insurance(07-01-2021) Printed: 10-18-23 @ 03:19 PM
101046D0109.doc/Updated: 09.12.22 Page 6 NC-CT-FSAC-01080.365396-23-12867DU

Chicago Title Insurance Company ALTA Commitment for Title Insurance
Commitment Number: 23-12867DU
15. If the instrument(s) required to be recorded at closing will not be recorded prior to disbursement of sales or loan
proceeds, then the Company must receive and approve prior to closing: (1)satisfactory indemnities of parties
whose financial responsibility have been pre-approved, indemnifying the Company against loss from any
intervening matters between disbursement and recordation, (2) satisfactory verification and approval by Company
of parties handling closing and funds; (3)Title update to within one business day prior to disbursement including
but not limited to civil actions, and (4)verification that the documents are in recordable form and will be delivered
to Company or its designated agent or approved attorney within one business day following closing, together with
all costs and transfer fees to record same.
16. MECHANICS'AND MATERIALMEN'S LIENS- CONTEMPLATED OR ONGOING CONSTRUCTION FOR MLA
PROJECTS: (NOTE -THE "APPLICABLE DEFINITIONS" INCLUDED IN THE ABOVE REQUIREMENT FOR
RECEIPT OF THE APPLICABLE NCLTA FORM ARE INCORPORATED BY REFERENCE INTO THIS
REQUIREMENT AS IF FULLY SET FORTH HEREIN.) Without limiting and notwithstanding any variant provisions
of the above requirement for receipt of the applicable NCLTA form, satisfaction of the following requirements:
(a) Appointment of Lien Agent in LiensNC.com and statutory posting of the Appointment of Lien Agent at the Land
prior to closing of construction loan to be insured (unless approval of underwriting counsel for the Company);
(b) Receipt of a completed, executed and notarized NCLTA Form 5 or other affidavit and indemnity satisfactory to
the Company from the Owner of the Land; and
(c) Receipt of a completed and executed lien waiver(NCLTA Form 6)or subordination (NCLTA Form 7), as
applicable, from:
(1) General Contractor(if any), design professionals and such additional Contractors as may be required by
the Company who have provided or have contracted to provide labor, services, materials or rental equipment
pursuant to a contract for Improvements on the Land, either express or implied, directly with the Owner of the
interest in the Land to be insured, and
(2) All Potential Lien Claimants who have either filed a Notice to Lien Agent on the LiensNC.com website prior
to recordation of the Insured Mortgage or provided labor, services, materials or rental equipment for
Improvements on the Land with first furnishing within 15 days prior to recording of the Insured Mortgage (and,
thus, are within their time to file a Notice to Lien Agent with priority).
REQUIREMENTS FOR ISSUANCE OF REQUESTED ENDORSEMENTS:
****TO BE DETERMINED****
END OF SCHEDULE B, PART I
This page is only a part of a 2021 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. IAN]) "
ANI)I I I11:
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.
ALTA Commitment for Title Insurance(07-01-2021) Printed: 10-18-23 @ 03:19 PM
101046D0109.doc/Updated: 09.12.22 Page 7 NC-CT-FSAC-01080.365396-23-12867DU

Chicago Title Insurance Company ALTA Commitment for Title Insurance
Commitment Number: 23-12867DU
SCHEDULE B, PART II - Exceptions
Some historical land records contain Discriminatory Covenants that are illegal and unenforceable by law. This
Commitment and the Policy treat any Discriminatory Covenant in a document referenced in Schedule B as if each
Discriminatory Covenant is redacted, repudiated, removed, and not republished or recirculated. Only the
remaining provisions of the document will be excepted from coverage.
The Policy will not insure against loss or damage resulting from the terms and conditions 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(s)2023, due or payable, but unpaid; and taxes or assessments for subsequent
years, not yet due or payable. Exception to be updated upon satisfaction of Requirement 6.
3. 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.
4. Easement(s)to Duke Energy Carolinas, LLC recorded in Book 945, page 873.
END OF SCHEDULE B, PART II
This page is only a part of a 2021 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.
AMCopyright American Land Title Association. All rights reserved. IAN]) "
ANI)I I I11:
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.
ALTA Commitment for Title Insurance(07-01-2021) Printed: 10-18-23 @ 03:19 PM
101046D0109.doc/Updated: 09.12.22 Page 8 NC-CT-FSAC-01080.365396-23-12867DU

Chicago Title Insurance Company ALTA Commitment for Title Insurance
Commitment Number: 23-12867DU
REMARKS
CLOSING SERVICES INSURANCE PROVIDED: Insured closing protection/closing services insurance is being
provided to those parties identified in and pursuant to terms and provisions of the separate closing protection letter
issued for the transaction for which title insurance is to be provided under this Commitment.
The Loan Policy will include all endorsements listed below for which requirements for issuance have been met:
***TO BE DETERMINED***
The Owner's Policy will include all endorsements listed below for which requirements for issuance have been met:
***TO BE DETERMINED***
END OF REMARKS
This page is only a part of a 2021 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. IAN]) "
ANI)I I I11:
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.
ALTA Commitment for Title Insurance(07-01-2021) Printed: 10-18-23 @ 03:19 PM
101046D0109.doc/Updated: 09.12.22 Page 9 NC-CT-FSAC-01080.365396-23-12867DU

Chicago Title Insurance Company ALTA Commitment for Title Insurance
Commitment Number: 23-12867DU
COMMITMENT CONDITIONS
1. DEFINITIONS
a. "Discriminatory Covenant": Any covenant, condition, restriction, or limitation that under applicable law illegally discriminates against a class
of individuals based on personal characteristics such as race, color, religion, sex,sexual orientation,gender identity,familial status, disability,
national origin,or other legally protected class.
b. "Knowledge"or"Known": Actual knowledge or actual notice,but not constructive notice imparted by the Public Records.
c. "Land": The land described in Item 5 of Schedule A and improvements located on that land that by State law constitute real property. The
term "Land" does not include any property beyond that described in Schedule A, nor any right, title, interest, estate, or easement in any
abutting street, road, avenue, alley, lane, right-of-way, body of water, or waterway, but does not modify or limit the extent that a right of
access to and from the Land is to be insured by the Policy.
d. "Mortgage": A mortgage, deed of trust, trust deed, security deed, or other real property security instrument, including one evidenced by
electronic means authorized by law.
e. "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.
f. "Proposed Amount of Insurance": Each dollar amount specified in Schedule A as the Proposed Amount of Insurance of each Policy to be
issued pursuant to this Commitment.
g. "Proposed Insured": Each person identified in Schedule A as the Proposed Insured of each Policy to be issued pursuant to this Commitment.
h. "Public Records": The recording or filing system established under State statutes in effect at the Commitment Date under which a document
must be recorded or filed to impart constructive notice of matters relating to the Title to a purchaser for value without Knowledge. The term
"Public Records" does not include any other recording or filing system, including any pertaining to environmental remediation or protection,
planning, permitting,zoning, licensing,building,health, public safety,or national security matters.
i. "State": The state or commonwealth of the United States within whose exterior boundaries the Land is located. The term "State" also
includes the District of Columbia,the Commonwealth of Puerto Rico,the U.S.Virgin Islands,and Guam.
j. "Title": The estate or interest in the Land identified in Item 3 of 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;and
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 is not 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 is not 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 is only liable 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 does not exceed the lesser of the Proposed Insured's actual expense incurred in good faith and described in
Commitment Condition 5.a.or the Proposed Amount of Insurance.
This page is only a part of a 2021 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. IAN]) "
ANI)I I I11:
^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.
ALTA Commitment for Title Insurance(07-01-2021) Printed: 10-18-23 @ 03:19 PM
101046D0109.doc/Updated: 09.12.22 Page 10 NC-CT-FSAC-01080.365396-23-12867DU

Chicago Title Insurance Company ALTA Commitment for Title Insurance
Commitment Number: 23-12867DU
e. The Company is not liable for the content of the Transaction Identification Data, if any.
f. The Company is not 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. The Company's liability is further limited by the terms and provisions of the Policy to be issued to the Proposed Insured.
6. LIABILITY OF THE COMPANY MUST BE BASED ON THIS COMMITMENT; CHOICE OF LAW AND CHOICE OF FORUM
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 under the State law of the State where the Land is located and is restricted to the terms and provisions
of this Commitment. Any litigation or other proceeding brought by the Proposed Insured against the Company must be filed only in a State or
federal court having jurisdiction.
c. 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 IS 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 closing,settlement,escrow,or any other purpose.
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. CLAIMS PROCEDURES
This Commitment incorporates by reference all Conditions for making a claim in the Policy to be issued to the Proposed Insured. Commitment
Condition 9 does not modify the limitations of liability in Commitment Conditions 5 and 6.
10. CLASS ACTION
ALL CLAIMS AND DISPUTES ARISING OUT OF OR RELATING TO THIS COMMITMENT, INCLUDING ANY SERVICE OR OTHER MATTER IN
CONNECTION WITH ISSUING THIS COMMITMENT,ANY BREACH OF A COMMITMENT PROVISION, OR ANY OTHER CLAIM OR DISPUTE
ARISING OUT OF OR RELATING TO THE TRANSACTION GIVING RISE TO THIS COMMITMENT, MUST BE BROUGHT IN AN INDIVIDUAL
CAPACITY. NO PARTY MAY SERVE AS PLAINTIFF, CLASS MEMBER, OR PARTICIPANT IN ANY CLASS OR REPRESENTATIVE
PROCEEDING. ANY POLICY ISSUED PURSUANT TO THIS COMMITMENT WILL CONTAIN A CLASS ACTION CONDITION.
11. ARBITRATION
The Policy contains an arbitration clause. All arbitrable matters when the Proposed Amount of Insurance is Two Million And No/100 Dollars
($2,000,000.00)or less may be arbitrated at the election 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.org/arbitration.
END OF CONDITIONS
This page is only a part of a 2021 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. IAN]) "
ANI)I I I11:
^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.
ALTA Commitment for Title Insurance(07-01-2021) Printed: 10-18-23 @ 03:19 PM
101046D0109.doc/Updated: 09.12.22 Page 11 NC-CT-FSAC-01080.365396-23-12867DU