| The undersigned has examined
the record title on the
County records (and municipal tax and assessment records if within
amunicipality) for the period shown below relative to title to the
real property described below, and gives the following opinion of
status: |
Owner(s):
Interest or estate:
|
| Property Description: (or
attach copy of legal description) |
|
Subject to the uninitialed STANDARD
EXCEPTIONS on reverse side hereof.
Also subject to the following SPECIAL
INFORMATION AND EXCEPTIONS: |
| Taxes: |
| 1. |
Ad valorem taxes are paid through and including those
for the year...............................................
|
| 2. |
Taxes now due and payable......................................................................................................
|
| 3. |
Taxes, a lien, deferred or otherwise, but not yet due and payable:.................................................
. |
| 4. |
Special levies or assessments now due or payable in future installments:......................................
|
| 5. |
Estate or inheritance taxes:.......................................................................................................
|
| |
| Restrictive Covenants: Yes
No
(Attach copy). |
| 1. |
Book
,Page
|
| 2. |
Restrictive covenants DO NOT contain
a reversionary or forfeiture clause unless indicated otherwise herein. |
| 3. |
Building Setback Line(s) of
feet from front
feet from side
feet from side street
feet from rear. |
| 4. |
Easements/Other matters
|
| |
| Survey and Inspections Report?
Yes
(see attached) No
Will be provided at closing
|
| |
| Recorded Plat? Yes
No
|
| 1. |
Book
,Page
|
| 2. |
Building Setback Line(s) of
,feet from front
feet from side
feet from side street
feet from rear. |
| |
| Access to Public Right of Way?
Yes
No
|
| Direct
or over a private easement
? (If private easement, attach copy). If over a private easement,
has a search been made of adjoining property on which easement crosses?
Yes
No
|
| |
| Property Occupied By: Owner
Tenant
Vacant
Unimproved
Unknown
|
| Updating from Previous Title
Insurance Policy?Yes
No
(gGateway Title policy #
). (Attach copy if prior is with another title company). If
“Yes”, has a search of the public records regarding the owner(s)
of the property on and after the date been accomplished?Yes
No
|
| |
| Other Easements, Liens, Deeds
of Trust, Objections or Defects: |
|
|
D/T to Trustee for
in the amount of $
,recorded in Book
,Page
,
County Registry. (To be paid
, subordinated
, or remains
) |
| |
|
|
Judgment in favor of
,in the principal amount of $
,dated
,docketed in Book
Page
,Office of Clerk of Superior Court of
County. This judgment will be paid or released at closing.
|
| |
General service and utility easements. |
|
|
The improvements presently located on the land consist of a mobile
home. |
|
|
Other: |
|
| |
| (Continue on next page
if necessary) |
| This opinion of title is
for the parties to whom it is furnished, is not transferable, and
may not be used by any other person or entity without the prior
written consent of the undersigned. |
| |
The Search Period was from
to
at
AM
Telephone:
Address:
By:
,Attorney |
| |
Continued…
Other Easements, Liens, Deeds of Trust, Objections or Defects: |
| |
| |
| TITLE
INSURANCE APPLICATION |
| 1 Owner’s Insurance:
(purchase price/value) |
| (a) |
Insured:
|
| (b) |
Use of
Property: Commercial
Residential
Unknown
or Other
|
| |
| 2 Mortgage Insurance:
(loan amount) |
| (a) |
Insured:
|
| (b) |
Lender’s
Address:
Fax:
|
| (c) |
Loan funds
fully disbursed at closing: Yes
No
|
| (d) |
Loan is:
Construction (Permanent
or Temporary
);FHA
VA
Equity
Other
|
| (e) |
The following
Standard ALTA Endorsements are requested:
|
| |
| 3 Policy Type: Regular
Enhanced
Enhanced Short Form
|
| |
| 4 If Enhanced Short
Form: (Improved residential property only) |
| (a) |
Loan Number:
|
| (b) |
Property’s
Street Address:
|
| (c) |
Closing
Date:
|
| (d) |
ProForma
binder sent to:
|
| |
| 5 Routing Instructions: |
| (a) |
Original
Binder needed: Yes
No
.(Fax #:
) |
| (b) |
Fax additional
copies to:
|
| (c) |
Insured
Closing Letter needed: Yes
No
If “Yes”, send copy to attorney
other
|
| (d) |
Loan Number:
(Fax #:
) |
| |
|
| |
| STANDARD
EXCEPTIONS |
| The attorney should init
ial any exceptions that are to be eliminated on the line to the
left of the exception. |
|
1. Interest or claims not disclosed by public records, including
but not limited to: |
(a)
Unrecorded Mechanics’ or Materialsmen’s liens. (Liens may be filed
by persons or entities furnishing labor or materials to any improvements
of real property within 120 days from the last day of performance
and will upon perfection relate in priority to the first day of
performance as a valid lien on real property.)
(b) Unrecorded leases. (Under North Carolina law, parties in possession
of the premises under a verbal or unrecorded lease of three years
or less duration may remain in possession under terms of tenancy.)
(c) Matters that may defeat or impair title which do not appear
on the record. (Evidence revealing missing heirs, forgeries, etc.
may not be on the public records, but such facts if properly established
may impair or defeat what appears to be a good title on the record.)
(d) Taxes, special assessments and other governmental charges that
are not shown as existing liens by the public records. (Governmental
charges may be made for acreage fees, tap-on fees, cost of weed
cutting, demolition of condemned buildings and other matters that
are not shown as existing liens on the property by the public records.)
(e) Unlisted personal property taxes. (If discovered, such taxes
and any penalties may be assessed as a lien on the subject property.)
|
| |
|
2. Matters occurring prior to and subsequent to the inclusive
dates of examination. |
| |
|
3. Matters which would be revealed by a review of the public
records regarding the proposed purchaser/borrower, who is not a
current owner of the property. |
| |
4. Any inaccuracies and discrepancies which an accurate
survey of the property may disclose. (A survey, if procured from
a competent surveyor or civil
engineer, will normally determine whether improvements lie within
the boundaries of the property, whether existing utility lines,
roads or other easements cross the
premises, and whether there are any encroachments.) |
| |
|
5. Security interests that may have attached to fixtures
on the subject property as provided in Article 9 of the Uniform
Commercial Code of North Carolina. |
| |
6. Compliance with any local, county, state or federal government
law or regulation relative to environment, zoning, subdivision,
occupancy, use, construction
or development of the subject property. |
| |
7. Federal judgments, liens, and proceedings filed only
in the Federal Court. (Upon the filing of a petition in Bankruptcy,
title to real property vests in the
Trustee in Bankruptcy and notice thereof is not always required
to be filed in the County in which the Bankrupt owns property; federal
condemnation proceedings may
vest property in the federal government and notice thereof is not
required to be recorded among the County records.) |
| |
|
8. Civil actions where no notice of lis pendens against
subject property appears of record. |
| |
| Note: The matters included
in Standard Exceptions Number One (1) above set forth are items
that cannot be checked. Standard Exceptions numbered 2, 3, 4,
5, 6, 7, and 8 are not included in a normal search of the County
records during examination of title. Upon special request, additional
investigation may be made, and Standard Exceptions numbered 2,
3, 4, 5, 6, 7, and 8 can be eliminated. Any such elimination is
evidenced by the initialing of such exception in the left margin
by the attorney.
|
| |
|
|
FNT-Preliminary (7/02)
For Use in North Carolina |
| |
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