The URL can be used to link to this page

43. Title Policy0 Fidelity. National Title Irrsurarrce Company Transaction Identification Data, for which the Company assumes no liability as set forth in Condition 9.e.: Issuing Agent: Stearns Weaver Miller Weissler Alhadeff & Sitterson, P.A. Issuing Office: 150 West Flagler Street, , 2200 Museum Tower Miami, FL 33130 Issuing Office'sALTA° Registry ID: Loan ID Number: Issuing Office File Number: 41191.0066 Order No: 11389795 Property Address: 165-185; 280-300 S. Shore Drive Miami Beach, FL 33141 FL SCHEDULE A Name and Address of Title Insurance Company: Fidelity National Title Insurance Company Attn: Claims Department P. O. Box 45023, Jacksonville, FL 32232-5023 Policy Number: 2751109-231342578 Amount of Insurance: $32,500,000.00 Date of Policy: December 18, 2023 at 2:33 p.m. 1. The Insured is: Housing Finance Authority of Miami -Dade County, a public body corporate and politic, the Bank of New York Mellon Trust Company, N.A., a national banking association, as Fiscal Agent on behalf of Bank of America, N.A., a national banking association, as Initial Funding Lender, pursuant to a Funding Loan Agreement dated December 15, 2023, their successors and/or assigns as their interests may appear. 2. The estate or interest in the Land encumbered by the Insured Mortgage is: Leasehold 3. The Title encumbered by the Insured Mortgage is vested in: Vista Breeze, Ltd., a Florida limited partnership 4. The Insured Mortgage and its assignments, if any, are described as follows: Leasehold Mortgage, Assignment of Rents, Security Agreement and Fixture Filing from Vista Breeze, Ltd., a Florida limited partnership to Housing Finance Authority of Miami -Dade County (BOND), dated December 15, 2023 recorded December 18, 2023 in Official Records Book 34013 Page 2577 in the amount of $32,500,000.00; as assigned to The Bank of New York Mellon Trust Company, N.A. pursuant to Assignment of Mortgage dated December 15, 2023 recorded December 18, 2023 in Official Records Book 34013 Page 2616, as recorded in the Public Records of Miami -Dade County, Florida. 5. The Land is described as follows is described in Exhibit "A" attached hereto and made part hereof 51109 ALTA Loan Policy (7-1-21) w-FL Mod Copyright 2021 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. #12179994v13 Order No.: 11389795 mi Fidelity Nafioizal 7llle Insuralzee COIi1patty 41191.0066 SCHEDULE A Policy Number: 2751109-231342578 6. This policy incorporates by reference the endorsements designated below, adopted by the American Land Title Association, with Florida modifications as indicated, as of the Date of Policy: 51109 F- ALTA 4.1 Condominium Current Assessments endorsement, if the Land or estate or interest is referred to in the Insured Mortgage as a condominium (with Florida modifications) i ALTA 5.1-06 Planned Unit Development Current Assessments endorsement (with Florida modifications) fv— ALTA 6 Variable Rate Mortgage endorsement, if the Insured Mortgage contains provisions which provide for an adjustable interest rate r ALTA 6.2 Variable Rate Mortgage Negative Amortization endorsement, if the Insured Mortgage contains provisions which provide for both an adjustable interest rate and negative amortization f ' ALTA 7-06 Manufactured Housing Unit endorsement, if a manufactured housing unit is located on the Land at the Date of Policy r ALTA 7.1 Manufactured Housing Conversion Loan Policy endorsement I- ALTA 8.1 Environmental Protection Lien endorsement (with Florida modifications) - Paragraph b refers to the following State statute(s): NONE ALTA 9-06 Restrictions, Encroachments, Minerals (with Florida modifications) ALTA 14 Future Advance (with Florida modifications) Priority endorsement ALTA 14.3 Future Advance (with Florida modifications) Reverse Mortgage endorsement F- Florida Endorsement NSE - Navigational Servitude ALTA Loan Policy (7-1-21) w-FL Mod Copyright 2021 American Land Title Association. All rights reserved. -77. 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. Order No.: 11389795 Y n� Fidelity Nativ,tQl Title I'nsitraiwe Company 41191.0066 EXHIBIT "A" Policy Number: 2751109-231342578 That leasehold estate created by that Second Amended and Restated Ground Lease dated December 15, 2023, by and between Vista Breeze, Ltd., a Florida limited partnership, and the Housing Authority of The City of Miami Beach, a public body corporate and politic, as evidenced by that Amended and Restated Memorandum of Lease recorded December 18, 2023, in Official Records Book 34013, Page 2540, over the following described lands: PARCEL1: LOT 3, 4 and 5, Block 55, OF NORMANDY GOLF COURSE, ACCORDING TO THE PLAT THEREOF, AS RECORDED IN PLAT BOOK 44, AT PAGE 62, OF THE PUBLIC RECORDS OF MIAMI-DADE COUNTY, FLORIDA. PARCEL Z LOTS 6, 7 and 8, BLOCK 56, NORMANDY GOLF COURSE SUBDIVISION, ACCORDING TO THE PLAT THEREOF RECORDED IN PLAT BOOK 44, PAGE 62, OF THE PUBLIC RECORDS OF MIAMI-DADE COUNTY, FLORIDA. 51109 ALTA Loan Policy (7-1-21) w-FL Mod Copyright 2021 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 r of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association. Order No.: 11389795 - Fidelity National Title hisitraace Coinpaiiy 41191.0066 SCHEDULE B Policy Number: 2751109-231342578 EXCEPTIONS FROM COVERAGE Some historical land records contain Discriminatory Covenants that are illegal and unenforceable by law. This policy treats 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 are excepted from coverage. This policy does not insure against loss or damage and the Company will not pay costs, attorneys' fees, or expenses resulting from the terms and conditions of any lease or easement identified in Schedule A, and the following matters: PART I 1. Taxes and assessments for the year 2024 and subsequent years, which are not yet due and payable. 2. Restrictions, dedications, conditions, reservations, easements and other matters shown on the plat of NORMANDY GOLF COURSE SUBDIVISION, as recorded in Plat Book 44, Page(s) 62. 3. The nature, extent or existence of riparian rights or littoral rights is not insured. (As to Lots 6, 7, and 8, Blk 56) 4. Any and all rights of the United States of America over artificially filled lands in what were formerly navigable waters, arising by reason of the United States of America's control over navigable waters in the interest of navigation and commerce, and any conditions contained in any permit authorizing the filling in of such areas. 5. Intentionally Deleted. 6. Terms, conditions and covenants contained in that Order before the Historic Preservation Board of the City of Miami Beach recorded July 13, 2022, in Official Records Book 33287, Page 4767. (As to Lots 6, 7, and 8, Blk 56) 7. Terms, conditions and covenants contained in that Order before the Historic Preservation Board of the City of Miami Beach recorded July 13, 2022, in Official Records Book 33287, Page 4800. (As to Lots 3, 4, and 5, Blk 55) 8. Declaration of Restrictive Covenants in Lieu of Unity of Title recorded April 4, 2023, in Official Records Book 33649, Page 2944. (As to Lots 3, 4, and 5, Blk 55) 9. Declaration of Restrictive Covenants in Lieu of Unity of Title recorded April 17, 2023, in Official Records Book 33668, Page 2142. (As to Lots 6, 7, and 8, Blk 56) 10. Declaration of Restrictive Covenants in Lieu of Unity of Title recorded April 26, 2023, in Official Records Book 33681, Page 2327. (As to Lots 6, 7, and 8, Blk 56) 11. Pending disbursement of the full proceeds of the loan secured by the mortgage insured, this policy only insures the amount actually disbursed, and the amount of insurance under this policy shall increase to the extent of such disbursement up to the amount of insurance stated in Schedule A, but neither the date of policy nor any other part of the policy shall be deemed changed by virtue of such disbursement. 12. The following matters disclosed by survey prepared by Delta Mapping and Surveying, Inc., dated October 23, 2023, survey certification dated December 5, 2023, under Drawing No. 23-0275: 51109 Copyright 2021 American Land Title Association. All rights reserved. ALTA Loan Policy (7-1-21) w-FL Mod 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. Order No.: 11389795 I fidelity 1Vational Title Iatsrtnince Company 41191.0066 SCHEDULE B Policy Number: 2751109-231342578 a) Metal fence encroaches over the east boundary line of Lot 5, Block 55; b) Seawall and wood dock encroach over the south boundary line of Lots 4 and 5 of Block 55; and c) Wood fence encroaches over the west boundary line of Lot 3, Block 55. 13. The following matters disclosed by survey prepared by Delta Mapping and Surveying, Inc., dated October 23, 2023, survey certification dated December 12, 2023, under Drawing No. 23-0270: a) Overhead wire and guy anchor encroach over the south boundary line of Lot 7, Block 56. 14. Terms and conditions of the Second Amended and Restated Ground Lease dated December 15, 2023, by and between Vista Breeze, Ltd., a Florida limited partnership, and Housing Authority of The City of Miami Beach, a public body corporate and politic, as evidenced by that Amended and Restated Memorandum of Lease recorded December 18, 2023, in Official Records Book 34013, Page 2540. 15. Land Use Restriction Agreement by and between Vista Breeze, Ltd., a Florida limited partnership, Housing Finance Authority of Miami -Dade County and The Bank of New York Mellon Trust Company, N.A. (BOND), dated December 15, 2023 recorded December 18, 2023 in Official Records Book 34013 Page 2545, as recorded in the Public Records of Miami -Dade County, Florida. NOTE: All recording references in this form shall refer to the public records of Miami -Dade County, Florida, unless otherwise noted. PART II Covered Risk 10 insures against loss or damage sustained by the Insured by reason of the lack of priority of the lien of the Insured Mortgage over the matters listed in Part II, subject to the terms and conditions of any subordination provision in a matter listed in Part II: 1. UCC-1 Financing Statement naming Vista Breeze, Ltd., a Florida limited partnership, as debtor, and Housing Finance Authority of Miami -Dade County, as assignor secured party and The Bank of New York Mellon Trust Company, N.A., as assignee secured party (BOND), recorded December 18, 2023 in Official Records Book 34013 Page 2620, as recorded in the Public Records of Miami -Dade County, Florida. 2. Leasehold Mortgage and Security Agreement from Vista Breeze, Ltd., a Florida limited partnership to Florida Housing Finance Corporation (VIABILITY), dated December 15, 2023 recorded December 18, 2023 in Official Records Book 34013 Page 2628 in the amount of $4,300,000.00, as subordinated by that certain Subordination and Intercreditor Agreement (FHFC-HFA/MDC) by and between Bank of America, N.A. and Florida Housing Finance Corporation and consented to by Vista Breeze, Ltd., a Florida limited partnership and The Bank of New York Mellon Trust Company, N.A., a national banking association dated December 15, 2023 recorded December 18, 2023 in Official Records Book 34013 Page 2671, as recorded in the Public Records of Miami -Dade County, Florida. 3. Assignment of Leases, Rents and Contract Rights from Vista Breeze, Ltd., a Florida limited partnership to Florida Housing Finance Corporation (VIABILITY), dated December 15, 2023 recorded December 18, 2023 in Official Records Book 34013 Page 2658, as recorded in the Public Records of Miami -Dade County, Florida. 51109 ALTA Loan Policy (7-1-21) w-FL Mod Copyright 2021 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. Order No.: 11389795 Fidelity 1'lratioizal Title Irmtr ante Company 41191.0066 SCHEDULE B Policy Number: 2751109-231342578 4. UCC-1 Financing Statement (VIABILITY) naming Vista Breeze, Ltd., a Florida limited partnership, as debtor, and Florida Housing Finance Corporation, as secured party, recorded December 18, 2023 in Official Records Book 34013 Page 2703, as recorded in the Public Records of Miami -Dade County, Florida. 5. Land Use Restriction Agreement (SAIL/ELI) by and between Vista Breeze, Ltd., a Florida limited liability company and Florida Housing Finance Corporation dated December 15, 2023 recorded December 18, 2023 in Official Records Book 34013, Page 2707, as recorded in the Public Records of Miami -Dade County, Florida. 6. Leasehold Mortgage and Security Agreement from Vista Breeze, Ltd., a Florida limited partnership to Florida Housing Finance Corporation (SAIL) dated December 15, 2023 recorded December 18, 2023 in Official Records Book 34013 Page 2731 in the amount of $3,000,000.00, as subordinated by that certain Subordination and Intercreditor Agreement (FHFC-HFA/MDC) by and between Bank of America, N.A. and Florida Housing Finance Corporation and consented to by Vista Breeze, Ltd., a Florida limited partnership and The Bank of New York Mellon Trust Company, N.A., a national banking association dated December 15, 2023 recorded December 18, 2023 in Official Records Book 34013 Page 2671, as recorded in the Public Records of Miami -Dade County, Florida. 7. Assignment of Leases, Rents and Contract Rights from Vista Breeze, Ltd., a Florida limited partnership to Florida Housing Finance Corporation (SAIL), dated December 15, 2023 recorded December 18, 2023 in Official Records Book 34013 Page 2761, as recorded in the Public Records of Miami -Dade County, Florida. 8. UCC-1 Financing Statement naming Vista Breeze, Ltd., a Florida limited partnership, as debtor, and Florida Housing Finance Corporation, as secured party (SAIL), recorded December 18, 2023 in Official Records Book 34013 Page 2773, as recorded in the Public Records of Miami -Dade County, Florida. Leasehold Mortgage and Security Agreement from Vista Breeze, Ltd., a Florida limited partnership to Florida Housing Finance Corporation (ELI) dated December 15, 2023 recorded December 18, 2023 in Official Records Book 34013 Page 2777_ in the amount of $600,000.00, as subordinated by that certain Subordination and Intercreditor Agreement (FHFC-HFA/MDC) by and between Bank of America, N.A. and Florida Housing Finance Corporation and consented to by Vista Breeze, Ltd., a Florida limited partnership and The Bank of New York Mellon Trust Company, N.A., a national banking association dated December 15, 2023 recorded December 18, 2023 in Official Records Book 34013 Page 2671, as recorded in the Public Records of Miami -Dade County, Florida. 10. Assignment of Leases, Rents and Contract Rights from Vista Breeze, Ltd., a Florida limited partnership to Florida Housing Finance Corporation (ELI), dated December 15, 2023 recorded December 18, 2023 in Official Records Book 34013 Page 2807, as recorded in the Public Records of Miami -Dade County, Florida. 11. UCC-1 Financing Statement (ELI) naming Vista Breeze, Ltd., a Florida limited partnership, as debtor, and Florida Housing Finance Corporation, as secured party, recorded December 18, 2023 in Official Records Book 34013 Page 2819, as recorded in the Public Records of Miami -Dade County, Florida. 12. Land Use Restriction Agreement (NHTF) by and between Vista Breeze, Ltd., a Florida limited liability company and Florida Housing Finance Corporation dated December 15, 2023 recorded December 18, 2023 in Official Records Book 34013, Page 2823, as recorded in the Public Records of Miami -Dade County, Florida. 13. Leasehold Mortgage and Security Agreement from Vista Breeze, Ltd., a Florida limited partnership to Florida Housing Finance Corporation (NHTF) dated December 15, 2023 recorded December 18, 2023 in Official Records 51109 ALTA Loan Policy (7-1-21) w-FL Mod Copyright 2021 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. Order No.: 11389795 Fidelity Natioial Title h-miranee Coinpaiiy 41191.0066 SCHEDULE B Policy Number: 2751109-231342578 Book 34013 Page 2847 in the amount of $1,301,500.00, as subordinated by that certain Subordination and Intercreditor Agreement (FHFC-HFA/MDC) by and between Bank of America, N.A. and Florida Housing Finance Corporation and consented to by Vista Breeze, Ltd., a Florida limited partnership and The Bank of New York Mellon Trust Company, N.A., a national banking association dated December 15, 2023 recorded December 18, 2023 in Official Records Book 34013 Page 2671, as recorded in the Public Records of Miami -Dade County, Florida. 14. Assignment of Leases, Rents and Contract Rights from Vista Breeze, Ltd., a Florida limited partnership to Florida Housing Finance Corporation (NHTF), dated December 15, 2023 recorded December 18, 2023 in Official Records Book 34013 Page 2880, as recorded in the Public Records of Miami -Dade County, Florida. 15. UCC-1 Financing Statement (NHTF) naming Vista Breeze, Ltd., a Florida limited partnership, as debtor, and Florida Housing Finance Corporation, as secured party, recorded December 18, 2023 in Official Records Book 34013 Page 2893, as recorded in the Public Records of Miami -Dade County, Florida. 16. Miami -Dade County Rental Regulatory Agreement by and between Vista Breeze, Ltd., a Florida limited partnership and Miami -Dade County (SURTAX) dated December 15, 2023 recorded December 18, 2023 in Official Records Book 34013 Page 2897, as recorded in the Public Records of Miami -Dade County, Florida. 17. Leasehold Mortgage and Security Agreement and Assignment of Lease, Rents and Profits from Vista Breeze, Ltd., a Florida limited partnership to Miami -Dade County (SURTAX) dated December 15, 2023 recorded December 18, 2023 in Official Records Book 34013 Page 2911 in the amount of $5,950,000.00, as subordinated by that certain Subordination and Intercreditor Agreement (FHFC-HFA/MDC) by and between Bank of America, N.A. and Miami - Dade County, a political subdivision of the State of Florida and consented to by Vista Breeze, Ltd., a Florida limited partnership and The Bank of New York Mellon Trust Company, N.A., a national banking association dated December 15, 2023 recorded December 18, 2023 in Official Records Book 34013 Page 2948, as subordinated by that certain Subordination Agreement (FHFC) dated December 15, 2023 recorded December 18, 2023 in Official Records Book 34013 Page 2962, as recorded in the Public Records of Miami -Dade County, Florida. 18. Collateral Assignment of Leases, Rents and Contract Rights from Vista Breeze, Ltd., a Florida limited partnership to Miami -Dade County (SURTAX) dated December 15, 2023 recorded December 18, 2023 in Official Records Book 34013 Page 2935, as recorded in the Public Records of Miami -Dade County, Florida. 19. UCC-1 Financing Statement naming Vista Breeze, Ltd., a Florida limited partnership, as debtor, and Florida Housing Finance Corporation, as secured party (SURTAX), recorded December 18, 2023 in Official Records Book 34013 Page 2980, as recorded in the Public Records of Miami -Dade County, Florida. 20. Amended and Restated Leasehold Mortgage, Security Agreement and Fixture Filing from Vista Breeze, Ltd., a Florida limited partnership to the City of Miami Beach, Florida, a Florida municipal corporation (HOME) dated December 15, 2023 recorded December 18, 2023 in Official Records Book 34013 Page 2998 in the amount of $1,003,969.00, as subordinated by that certain Subordination Agreement (HFA/MDC) by and between Bank of America, N.A. and The City of Miami Beach, Florida, a Florida municipal corporation and consented to by Vista Breeze, Ltd., a Florida limited partnership and The Bank of New York Mellon Trust Company, N.A., a national banking association dated December 15, 2023 recorded December 18, 2023 in Official Records Book 34013 Page 3022, as subordinated by that certain Subordination Agreement (FHFC) dated December 15, 2023 recorded December 18, 2023 in Official Records Book 34013 Page 3039, as recorded in the Public Records of Miami -Dade County, Florida. 51109 ALTA Loan Policy (7-1-21) w-FL Mod Copyright 2021 American Land Title Association. All rights reserved. !+r■ 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. Order No.: 11389795 i' Fidelity National 7ifle Insurance Company 41191.0066 SCHEDULE B Policy Number: 2751109-231342578 21. Amended and Restated Declaration of Restrictive Covenants (HOME) recorded December 18, 2023, in Official Records Book 34013, Page 2984, as recorded in the Public Records of Miami -Dade County, Florida. 22 .Open-end Leasehold Mortgage and Security Agreement from Vista Breeze, Ltd., a Florida limited partnership to Housing Authority of the City of Miami Beach (SPONSOR LOAN), dated December 15, 2023 recorded December 18, 2023 in Official Records Book 34013 Page 3057 in the amount of $8,800,000.00, as affected by that certain Subordination Agreement (HFA/MDC), dated December 15, 2023, recorded December 18, 2023, in Official Records Book 34013, Page 3070, as further affected by that certain Subordination Agreement (FHFC), dated December 15, 2023, recorded December 18, 2023, in Official Records Book 34013, Page 3084, as further affected by that certain Subordination Agreement (City), dated December 15, 2023, recorded December 18, 2023, in Official Records Book 34013, Page 3102,as recorded in the Public Records of Miami -Dade County, Florida. 23. UCC-1 Financing Statement (SPONSOR LOAN) naming Vista Breeze, Ltd., a Florida limited partnership, as debtor, and Housing Authority of the City of Miami Beach, as secured party, recorded December 18, 2023 in Official Records Book 34013 Page 3119, as recorded in the Public Records of Miami -Dade County, Florida. 24. Forward Commitment Fee Multifamily Leasehold Mortgage, Assignment of Rents, Security Agreement and Fixture Filing (Florida), by Vista Breeze, Ltd., a Florida limited partnership to Citibank, N.A., a national banking association, dated December 1, 2023, recorded December 18, 2023 in Official Records Book 34013 Page 3123, as recorded in the Public Records of Miami -Dade County, Florida. 25. Notice of Commencement recorded December 18, 2023 in Official Records Book 34013 Page 3202, as recorded in the Public Records of Miami -Dade County, Florida. NOTE: In accordance with Florida Statutes section 627.4131, please be advised that the insured hereunder may present inquiries, obtain information about coverage, or receive assistance in resolving complaints by contacting Fidelity National Title Insurance Company Telephone 1-800-669-7450 51109 ALTA Loan Policy (7-1-21) w-FL Mod Copyright 2021 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. Order No.: 11389795 0 41191.0066 Fidelity National Title Insurance Company ALTA 6 VARIABLE RATE MORTGAGE ENDORSEMENT This endorsement is issued as part of Policy Number 2751109-231342578 issued by Fidelity National Title Insurance Company As used in this endorsement, "Changes in the Rate of Interest" mean those adjustments in the rate of interest calculated pursuant to the formula provided in the Insured Mortgage or the loan documents secured by the Insured Mortgage at the Date of Policy. The Company insures against loss or damage sustained by the Insured by reason of: a. the invalidity or unenforceability of the lien of the Insured Mortgage resulting from Changes in the Rate of Interest. b. the loss of priority of the lien of the Insured Mortgage as security for the unpaid principal balance of the loan, together with interest as changed in accordance with the provisions of the Insured Mortgage or the loan documents secured by the Insured Mortgage, which loss of priority results from Changes in the Rate of Interest. 3. This endorsement does not insure against loss or damage, and the Company will not pay costs, attorneys' fees, or expenses, based upon usury law or Consumer Protection Law. This endorsement is issued as part of the policy. Except as it expressly states, it does not (i) modify any of the terms and provisions of the policy, (ii) modify any prior endorsements, (iii) extend the Date of Policy, or (iv) increase the Amount of Insurance. To the extent a provision of the policy or a previous endorsement is inconsistent with an express provision of this endorsement, this endorsement controls. Otherwise, this endorsement is subject to all of the terms and provisions of the policy and of any prior endorsements. Dated: December 18, 2023 E92209 Copyright 2021 American Land Title Association. All rights reserved. Stearns Weaver Miller WeisslerAlhadeff & Sitterson, P.A. ALTA 6 Variable Rate Mortgage Endorsement (7-1-21) w-FL Mod 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. Order No.: 11389795 Customer Reference: 41191.0066 Fidelity Nalional Tide Insurance Coinpany ALTA 8.1 ENVIRONMENTAL PROTECTION LIEN ENDORSEMENT This endorsement is issued as part of Policy Number 2751109-231342578 issued by Fidelity National Title Insurance Company The Company insures against loss or damage sustained by the Insured by reason of lack of priority of the lien of the Insured Mortgage over: a. any environmental protection lien that, at the Date of Policy, is recorded in those records established under State statutes at the Date of Policy for the purpose of imparting constructive notice of matters relating to real property to purchasers for value and without Knowledge, or is filed in the records of the clerk of the United States district court for the district in which the Land is located, except as set forth in Schedule B; or b. any environmental protection lien provided by any State statute in effect at the Date of Policy, except environmental protection liens provided by the following State statutes: NONE This endorsement is issued as part of the policy. Except as it expressly states, it does not (i) modify any of the terms and provisions of the policy, (ii) modify any prior endorsements, (iii) extend the Date of Policy, or (iv) increase the Amount of Insurance. To the extent a provision of the policy or a previous endorsement is inconsistent with an express provision of this endorsement, this endorsement controls. Otherwise, this endorsement is subject to all of the terms and provisions of the policy and of any prior endorsements. Dated: December 18, 2023 E92609 Copyright 2021 American Land Title Association. All rights reserved. Stearns Weaver Miller WeisslerAlhadeff & Sitterson, P.A. ALTA 8.1 Environmental Protection Lien Endorsement (7-1-21) w-FL Mod 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. 0 Fidelity National Title Insurance Company ALTA 9-06 ENDORSEMENT RESTRICTIONS, ENCROACHMENTS, MINERALS LOAN POLICY (with Florida Modifications) Attached to Policy No. 2751109-231342578 Issued By Fidelity National Title Insurance Company Order No.: 11389795 41191.0066 The insurance provided by this endorsement is subject to the Exclusions from Coverage, the Exceptions from Coverage contained in Schedule B, and the Conditions in the policy. The Company insures the owner of the Indebtedness secured by the Insured Mortgage against loss or damage sustained by reason of: 1. Any incorrectness in the assurance that, at Date of Policy: (a) There are no covenants, conditions or restrictions under which the lien of the Mortgage referred to in Schedule A can be divested, subordinated or extinguished, or its validity, priority or enforceability impaired. (b) Unless expressly excepted in Schedule B: (1) There are no present violations on the Land of any enforceable covenants, conditions or restrictions, nor do any existing improvements on the Land violate building setback lines shown on a plat of subdivision recorded or filed in the Public Records. (2) Any instrument referred to in Schedule B as containing covenants, conditions or restrictions on the Land does not, in addition, (i) establish an easement on the Land; (ii) provide a lien for liquidated damages; (iii) provide for a private charge or assessment; (iv) provide for an option to purchase, a right of first refusal or the prior approval of a future purchaser or occupant. (3) There is no encroachment of existing improvements located on the Land onto adjoining land, nor any encroachment onto the Land of existing improvements located on adjoining land. (4) There is no encroachment of existing improvements located on the Land onto that portion of the Land subject to any easement excepted in Schedule B. (5) There are no notices of violation of covenants, conditions and restrictions relating to environmental protection recorded in the Public Records. 2. Any future violation on the Land of an existing covenant, condition or restriction occurring prior to the acquisition of title to the estate or interest in the Land, provided the violation results in: (a) invalidity, loss of priority or unenforceability of the lien of the Insured Mortgage; or ALTA 9-06 Endorsement Restrictions, Encroachments, Minerals E10309 1 of 2 (6/17/06) (Florida modified 12/1/13) Copyright American Land Title Association. All rights reserved. The use of this Form 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. Order No.: 11389795 41191.0066 Fidelity National Title Insurance Company (b) loss of Title to the estate or interest in the Land if the Insured shall acquire Title in satisfaction of the Indebtedness secured by the Insured Mortgage. 3. Damage to existing improvements (excluding lawns, shrubbery or trees): (a) which are located on or encroach upon that portion of the Land subject to any easement excepted in Schedule B, which damage results from the exercise of the right to maintain the easement for the purpose for which it was granted or reserved; or (b) which results from the future exercise of any right to use the surface of the Land for the extraction or development of minerals excepted from the description of the Land or excepted in Schedule B. 4. Any final court order or judgment requiring the removal from any land adjoining the Land of any encroachment excepted in Schedule B. 5. Any final court order or judgment denying the right to maintain any existing improvement on the Land because of any violation of covenants, conditions or restrictions or building setback lines shown on a plat of subdivision recorded or filed in the Public Records. Wherever in this endorsement the words "covenants, conditions or restrictions" appear, they shall not be deemed to refer to or include the terms, covenants, conditions or limitations contained in an instrument creating a lease. As used in paragraphs 1(b)(1) and 5, the words "covenants, conditions or restrictions" shall not be deemed to refer to or include any covenants, conditions or restrictions relating to environmental protection. The failure to expressly except any matter delineated in paragraphs 1(b)(1), 1(b)(2) or 1(b)(5) of this endorsement constitutes the Company's agreement to indemnify against loss or damage resulting from any matters delineated in paragraphs 1(b)(1), 1(b)(2) or 1(b)(5) only and provides no coverage for any other matters set forth in the covenants, conditions and restrictions. This endorsement is made a part of the policy and is subject to all of the terms and provisions thereof and of any prior endorsements thereto. Except to the extent expressly stated, it neither modifies any of the terms and provisions of the policy and any prior endorsements, nor does it extend the effective date of the policy and any prior endorsements, nor does it increase the face amount thereof. Dated: December 18, 2023 E10309 Stearns Weaver Miller Weissler Alhadeff & Sitterson, n A ALTA 9-06 Endorsement Restrictions, Encroachments, Minerals 2 of 2 (6/17/06) (Florida modified 12/1/13) Copyright American Land Title Association. All rights reserved. The use of this Form 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. Order No.: 11389795 41191.0066 _ Fidelity Aralidnal Title Insurance Company ENDORSEMENT LEASEHOLD LOAN Attached to Policy No.: 2751109-231342578 Issued By Fidelity National Title Insurance Company 1. As used in this endorsement, the following terms shall mean: a. "Evicted" or "Eviction": (a) the lawful deprivation, in whole or in part, of the right of possession insured by this policy, contrary to the terms of the Lease or (b) the lawful prevention of the use of the Land or the Tenant Leasehold Improvements for the purposes permitted by the Lease, in either case as a result of a matter covered by this policy. b. "Lease": the lease agreement described in Schedule A. C. "Leasehold Estate": the right of possession granted in the Lease for the Lease Term. d. "Lease Term": the duration of the Leasehold Estate, as set forth in the Lease, including any renewal or extended term if a valid option to renew or extend is contained in the Lease. e. "Personal Property": property, in which and to the extent the Insured has rights, located on or affixed to the Land on or after Date of Policy that by law does not constitute real property because (i) of its character and manner of attachment to the Land and (ii) the property can be severed from the Land without causing material damage to the property or to the Land. f. "Remaining Lease Term": the portion of the Lease Term remaining after the Tenant has been Evicted. g. "Tenant": the tenant under the Lease and, after acquisition of all or any part of the Title in accordance with the provisions of Section 2 of the Conditions of this policy, the Insured Claimant. h. "Tenant Leasehold Improvements": Those improvements, in which and to the extent the Insured has rights, including landscaping, required or permitted to be built on the Land by the Lease that have been built at the Tenant's expense or in which the Tenant has an interest greater than the right to possession during the Lease Term. 2. Valuation of Estate or Interest Insured: If in computing loss or damage it becomes necessary to value the Title, or any portion of it, as the result of an Eviction of the Tenant, then, as to that portion of the Land from which the Tenant is Evicted, that value shall consist of the value for the Remaining Lease Term of the Leasehold Estate and any Tenant Leasehold Improvements existing on the date of the Eviction. The Insured Claimant shall have the right to have the Leasehold Estate and the Tenant Leasehold Improvements affected by a defect insured against by the policy valued either as a whole or separately. In either event, this determination of value shall take into account rent no longer required to be paid for the Remaining Lease Term. 3. Additional items of loss covered by this endorsement: If the Insured acquires all or any part of the Title in accordance with the provisions of Section 2 of the Conditions of this policy and thereafter is Evicted, the following items of loss, if applicable to that portion of the Land from which the Insured is Evicted shall be included, without duplication, in computing loss or damage incurred by the Insured, but not to the extent that the same are included in the valuation of the Title determined pursuant to Section 2 of this endorsement, any other endorsement to the policy, or Section 8(a)(iii) of the Conditions: a. The reasonable cost of (i) removing and relocating any Personal Property that the Insured has the right to remove and relocate, situated on the Land at the time of Eviction, (ii) transportation of that Personal Property for the initial one hundred miles incurred in connection with the relocation, (iii) repairing the Personal Property damaged by reason of the removal and relocation, and (iv) restoring the Land to the extent damaged as a result of the removal and relocation of the Personal Property and required of the Insured solely because of the Eviction. b. Rent or damages for use and occupancy of the Land prior to the Eviction that the Insured as owner of the Leasehold Estate may be obligated to pay to any person having paramount title to that of the lessor in the Lease. c. The amount of rent that, by the terms of the Lease, the Insured must continue to pay to the lessor after Eviction with respect to the portion of the Leasehold Estate and Tenant Leasehold Improvements from which the Insured has been Evicted. d. The fair market value, at the time of the Eviction, of the estate or interest of the Insured in any lease or sublease permitted by the Lease and made by Tenant as lessor of all or part of the Leasehold Estate or the Tenant Leasehold Improvements. Copyright American Land Title Association. All rights reserved. The use of this Form 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. End ALTA Form 13.1-06 Leasehold Loan (6/17/06) Revised 4/2/2012 Order No.: 11389795 41191.0066 Fidelity National Title Insurance Company e. Damages caused by the Eviction that the Insured is obligated to pay to lessees or sublessees on account of the breach of any lease or sublease permitted by the Lease and made by the Tenant as lessor of all or part of the Leasehold Estate or the Tenant Leasehold Improvements. f. The reasonable cost to obtain land use, zoning, building and occupancy permits, architectural and engineering services and environmental testing and reviews for a replacement leasehold reasonably equivalent to the Leasehold Estate.. g. If Tenant Leasehold Improvements are not substantially completed at the time of Eviction, the actual cost incurred by the Insured, less the salvage value, for the Tenant Leasehold Improvements up to the time of Eviction. Those costs include costs incurred to obtain land use, zoning, building and occupancy permits, architectural and engineering services, construction management services, environmental testing and reviews, and landscaping. This endorsement is issued as part of the policy. Except as it expressly states, it does not (i) modify any of the terms and provisions of the policy, (ii) modify any prior endorsements, (iii) extend the Date of Policy, or (iv) increase the Amount of Insurance. To the extent a provision of the policy or a previous endorsement is inconsistent with an express provision of this endorsement, this endorsement controls. Otherwise, this endorsement is subject to all of the terms and provisions of the policy and of any prior endorsements. IN WITNESS WHEREOF, the Company has caused this Endorsement to be signed with the facsimile signatures of its President and Secretary and sealed as required by its By -Laws. FIDELITY NATIONAL TITLE INSURANCE COMPANY Dated: December 1$ 3 A/]�7 Countersigned. By: o PresidentBy. Authorized Offl r Agent Attest: Secretary 4. This endorsement does not insure against loss, damage or costs of remediation (and the Company will not pay costs, attorneys' fees or expenses) resulting from environmental damage or contamination. Copyright American Land Title Association. All rights reserved. �!! The use of this Fonn 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. End ALTA Form 13.1-06 Leasehold Loan (6/17/06) Revised 4/2/2012 Order No.: 11389795 41191.0066 Fidelity National Title Insurance Company ALTA 14 FUTURE ADVANCE - PRIORITY ENDORSEMENT This endorsement is issued as part of Policy Number 2751109-231342578 issued by Fidelity National Title Insurance Company 1. The insurance for Advances added by Sections 3 and 4 of this endorsement is subject to the exclusions in Section 5 of this endorsement and the Exclusions from Coverage in the policy (except Exclusion 3.d.), the Conditions, and the exceptions from coverage contained in Schedule B. 2. The following terms when used in this endorsement mean: a. "Advance": Only an advance of principal made after the Date of Policy as provided in the Agreement, including expenses of foreclosure; amounts advanced pursuant to the Insured Mortgage to pay taxes and insurance, assure compliance with laws, or to protect the lien of the Insured Mortgage before the time of acquisition of the Title; and reasonable amounts expended to prevent deterioration of improvements, together with interest on those advances. b. "Agreement': The note or loan agreement, the repayment of Advances under which is secured by the Insured Mortgage. C. "Changes in the Rate of Interest': Only those changes in the rate of interest calculated pursuant to a formula provided in the Insured Mortgage or the Agreement at the Date of Policy. 3. The Company insures against loss or damage sustained by the Insured by reason of: a. The invalidity or unenforceability of the lien of the Insured Mortgage as security for each Advance. b. The lack of priority of the lien of the Insured Mortgage as security for each Advance over any lien or encumbrance on the Title. C. The invalidity, unenforceability, or lack of priority of the lien of the Insured Mortgage as security for the Indebtedness, Advances, and unpaid interest resulting from: i. re -Advances and repayments of Indebtedness; ii. earlier periods of no indebtedness owing during the term of the Insured Mortgage; or iii. the Insured Mortgage not complying with the requirements of State law of the State in which the Land is located to secure Advances. 4. The Company further insures against loss or damage sustained by the Insured by reason of: a. The invalidity or unenforceability of the lien of the Insured Mortgage resulting from any provisions of the Agreement that provide for: i. interest on interest; ii. Changes in the Rate of Interest; or iii. the addition of unpaid interest to the principal of the Indebtedness. b. The lack of priority of the lien of the Insured Mortgage as security for the Indebtedness, including any unpaid interest that was added to principal in accordance with any provisions of the Agreement, interest on interest, or interest as changed in accordance with the provisions of the Insured Mortgage, which lack of priority is caused by: i. Changes in the Rate of Interest; ii. interest on interest; or iii. increases in the principal of the Indebtedness resulting from the addition of unpaid interest. E93409 ALTA 14 Future Advance -Priority Endorsement (7-1-21) w-FL Mod Copyright 2021 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 0 Fidelity National Title Insurance Company Order No.: 11389795 41191.0066 5. This endorsement does not insure against loss or damage (and the Company will not pay costs, attorneys' fees, or expenses) resulting from: a. The invalidity, unenforceability, or lack of priority of the lien of the Insured Mortgage as security for any Advance made after a Petition for Relief under the Bankruptcy Code (11 U.S.C.) has been filed by or on behalf of the mortgagor; b. Advance made subsequent to 20 years after the date of the Insured Mortgage or after a notice has been recorded in the Public Records limiting the maximum principal amount that may be secured to the extent causes the outstanding principal balance to exceed the amount stated in the notice. C. The lien of real estate taxes or assessments on the Title imposed by governmental authority arising after the Date of Policy; d. The lack of priority of the lien of the Insured Mortgage as security for any Advance to a federal tax lien, which Advance is made after the earlier of: i. Knowledge of the Insured that a federal tax lien was filed against the mortgagor; or ii. the expiration, after notice of a federal tax lien filed against the mortgagor, of any grace period for making disbursements with priority over the federal tax lien provided in the Internal Revenue Code (26 U.S.C.); e. Any federal or state environmental protection lien; or f. Any usury law or Consumer Protection Law. 6. The Indebtedness includes Advances. This endorsement is issued as part of the policy. Except as it expressly states, it does not (i) modify any of the terms and provisions of the policy, (ii) modify any prior endorsements, (iii) extend the Date of Policy or (iv) increase the Amount of Insurance. To the extent a provision of the policy or a previous endorsement is inconsistent with an express provision of this endorsement, this endorsement controls. Otherwise, this endorsement is subject to all of the terms and provisions of the policy and of any prior endorsements. Dated: December 18, 2023 E93409 Copyright 2021 American Land Title Association. All rights reserved. Stearns Weaver Miller WeisslerAlhadeff & Sitterson, P.A. ALTA 14 Future Advance -Priority Endorsement (7-1-21) w-FL Mod 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. Order No.: 11389795 rmi FidelityNational 7rtl+e Insurance Company 41191.0066 ENDORSEMENT CONTIGUITY Attached to Policy No.: 2751109-231342578 Issued by: Fidelity National Title Insurance Company The Company insures the insured herein against loss or damage by virtue of any inaccuracy in the following statement, to wit: Lot 3 is contiguous with Lot 4 on the east side of Lot 3 and the west side of Lot 4; Lot 4 is contiguous with Lot 5 on the east side of Lot 4 and the west side of Lot 5; and Lot 6 is contiguous with Lot 7 on the east side of Lot 6 and the west side of Lot 7; Lot 7 is contiguous with Lot 8 on the east side of Lot 7 and the west side of Lot 8. This endorsement is issued as part of the policy. Except as it expressly states, it does not (i) modify any of the terms and provisions of the policy, (ii) modify any prior endorsements, (iii) extend the Date of Policy, or (iv) increase the Amount of Insurance. To the extent a provision of the policy or a previous endorsement is inconsistent with an express provision of this endorsement, this endorsement controls. Otherwise, this endorsement is subject to all of the terms and provisions of the policy and of any prior endorsements. Dated: December 18, 2023 Endorsement Contiguity #12180006v2 Stearns Weaver Miller Weissler Alhadeff & Sitterson, P.A. -A - Authorize gnatory i�l "" Fidelity National Title Insurance Compaixy ENDORSEMENT SURVEY Attached t0 Policy NO. 2751109-231342578 Issued By Fidelity National Title Insurance Company Order No.: 11389795 41191.0066 The Company hereby acknowledges the lands described in Schedule A are the same lands described in the survey prepared by Delta Mapping and Surveying, Inc., dated October 23, 2023, survey certification dated December 5, 2023, under Drawing No. 23-0275 and Delta Mapping and Surveying, Inc., dated October 23, 2023, survey certification dated December 12, 2023, under Drawing No. 23-0270 ; however, the Company does not insure the accuracy or completeness of said survey. This endorsement is issued as part of the policy. Except as it expressly states, it does not (i) modify any of the terms and provisions of the policy, (ii) modify any prior endorsements, (iii) extend the Date of Policy, or (iv) increase the Amount of Insurance. To the extent a provision of the policy or a previous endorsement is inconsistent with an express provision of this endorsement, this endorsement controls. Otherwise, this endorsement is subject to all of the terms and provisions of the policy and of any prior endorsements. Dated: December 18, 2023 Endorsement Survey Stearns Weaver Miller Weissler Alhadeff & Sitterson, P.A. - ;4 T'u-thorized&ranatory „;"-; Fidelity National Title kisurcrrtce Attached to and made a part of Policy Number: 2751109-231342578 Issued By: Fidelity National Title Insurance Company When the policy is issued by the Company with a policy number and Date of Policy, the Company will not deny liability under the policy or any endorsements issued with the policy solely on the grounds that the policy or endorsements were issued electronically or lack signatures in accordance with the Conditions. This endorsement is issued as part of the policy. Except as it expressly states, it does not (i) modify any of the terms and provisions of the policy, (ii) modify any prior endorsements, (iii) extend the Date of Policy, or (iv) increase the Amount of Insurance. To the extent a provision of the policy or a previous endorsement is inconsistent with an express provision of this endorsement, this endorsement controls. Otherwise, this endorsement is subject to all of the terms and provisions of the policy and of any prior endorsements. Dated: December 18, 2023 Stearns Weaver Miller Weissler Alhadeff & Sitterson, P.A. 150 West Flagler 506et, Miami, FL 33130 Authorized Offic,piX' r Licensed Agent ALTA 39-06 Policy Authentication (4-2-13) #12217269v] Page 1 of 1 0 Fidelity National Title Imuranct Company Policy No.: 5966-2-41191.0066-2023.2751109-231342578 ALTA LOAN POLICY OF TITLE INSURANCE Issued by FIDELITY NATIONAL TITLE INSURANCE COMPANY This policy, when issued by the Company with a Policy Number and the Date of Policy, is valid even if this policy or any endorsement to this policy is issued electronically or lacks any signature. Any notice of claim and any other notice or statement in writing required to be given to the Company under this policy must be given to the Company at the address shown in Conditions 16. COVERED RISKS SUBJECT TO THE EXCLUSIONS FROM COVERAGE, THE EXCEPTIONS FROM COVERAGE CONTAINED IN SCHEDULE B, AND THE CONDITIONS, FIDELITY NATIONAL TITLE INSURANCE COMPANY, a a Florida corporation, (the "Company") insures as of the Date of Policy and, to the extent stated in Covered Risks 11, 13, and 14, after the Date of Policy, against loss or damage, not exceeding the Amount of Insurance, sustained or incurred by the Insured by reason of: 1. The Title being vested other than as stated in Schedule A. 2. Any defect in or lien or encumbrance on the Title. Covered Risk includes, but is not limited to, insurance against loss from: (a) a defect in the Title caused by: i forgery, fraud, undue influence, duress, incompetency, incapacity, or impersonation; ii the failure of a person or Entity to have authorized a transfer or conveyance; iii a document affecting the Title not properly authorized, created, executed, witnessed, sealed, acknowledged, notarized, (including by remote online notarization), or delivered; iv a failure to perform those acts necessary to create a document by electronic means authorized by law; v a document executed under a falsified, expired, or otherwise invalid power of attorney; vi a document not properly filed, recorded, or indexed in the Public Records, including the failure to have performed those acts by electronic means authorized by law; vii a defective judicial or administrative proceeding; or viii. the repudiation of an electronic signature by a person that executed a document because the electronic signature on the document was not valid under applicable electronic transactions law. (b) the lien of real estate taxes or assessments imposed on the Title by a governmental authority due or payable, but unpaid. (c) the effect on the Title of an encumbrance, violation, variation, adverse circumstance, boundary line overlap, or encroachment (including an encroachment of an improvement across the boundary lines of the Land), but only if the encumbrance, violation, variation, adverse circumstance, boundary line overlap, or encroachment would have been disclosed by an accurate and complete land title survey of the Land. 3. Unmarketable Title. 4. No right of access to and from the Land. 5. A violation or enforcement of a law, ordinance, permit, or governmental regulation (including those relating to building and zoning), but only to the extent of the violation or enforcement described by the enforcing governmental authority in an Enforcement Notice that identifies a restriction, regulation, or prohibition relating to: (a) the occupancy, use, or enjoyment of the Land; (b) the character, dimensions, or location of an improvement on the Land; (c) the subdivision of the Land; or (d) environmental remediation or protection on the Land. 6. An enforcement of a governmental forfeiture, police, regulatory, or national security power, but only to the extent of the enforcement described by the enforcing governmental authority in an Enforcement Notice. 7. An exercise of the power of eminent domain, but only to the extent: (a) of the exercise described in an Enforcement Notice; or (b) the taking occurred and is binding on a purchaser for value without Knowledge. 8. An enforcement of a PACA-PSA Trust, but only to the extent of the enforcement described in an Enforcement Notice. 9. The invalidity or unenforceability of the lien of the Insured Mortgage upon the Title. Covered Risk 9 includes, but is not limited to, insurance against loss caused by: (a) forgery, fraud, undue influence, duress, incompetency, incapacity, or impersonation; (b) the failure of a person or Entity to have authorized a transfer or conveyance; (c) the Insured Mortgage not being properly authorized, created, executed, witnessed, sealed, acknowledged, notarized (including by remote online notarization), or delivered; (d) a failure to perform those acts necessary to create an Insured Mortgage by electronic means authorized by law; (e) a document having been executed under a falsified, expired, or otherwise invalid power of attorney; (f) the Insured Mortgage not having been properly filed, recorded, or indexed in the Public Records, including the failure to have performed those acts by electronic means authorized by law; (g) a defective judicial or administrative proceeding; or 2751109 ALTA Loan Policy 07/01/21 w-FL Mod_511 Copyright 2021 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. Page 1 of 8 (h) invalidity or unenforceability of the lien of the Insured Mortgage as a result of the repudiation of an electronic signature by a person that executed the Insured Mortgage because the electronic signature on the Insured Mortgage was not valid under applicable electronic transactions law. 10. The lack of priority of the lien of the Insured Mortgage upon the Title over any other lien or encumbrance on the Title as security for the following components of the Indebtedness: (a) the amount of the principal disbursed as of the Date of Policy; (b) the interest on the obligation secured by the Insured Mortgage; (c) the reasonable expense of foreclosure; (d) amounts advanced for insurance premiums by the Insured before the acquisition of the estate or interest in the Title; and (e) the following amounts advanced by the Insured before the acquisition of the estate or interest in the Title to protect the priority of the lien of the Insured Mortgage: i. real estate taxes and assessments imposed by a governmental taxing authority; and ii. regular, periodic assessments by a property owners' association. 11. The lack of priority of the lien of the Insured Mortgage upon the Title: (a) as security for each advance of proceeds of the loan secured by the Insured Mortgage over any statutory lien for service, labor, material, or equipment arising from construction of an improvement or work related to the Land when the improvement or work is: i. contracted for or commenced on or before the Date of Policy; or ii. contracted for, commenced, or continued after the Date of Policy if the construction is financed, in whole or in part, by proceeds of the loan secured by the Insured Mortgage that the Insured has advanced or is obligated on the Date of Policy to advance; and (b) over the lien of any assessments for street improvements under construction or completed at the Date of Policy. 12. The invalidity or unenforceability of any assignment of the Insured Mortgage, provided the assignment is shown in Schedule A, or the failure of the assignment shown in Schedule A to vest title to the Insured Mortgage in the named Insured assignee free and clear of all liens. 13. The invalidity, unenforceability, lack of priority, or avoidance of the lien of the Insured Mortgage upon the Title, or the effect of a court order providing an alternative remedy: (a) resulting from the avoidance, in whole or in part, of any transfer of all or any part of the Title to the Land or any interest in the Land occurring prior to the transaction creating the lien of the Insured Mortgage because that prior transfer constituted a: i. fraudulent conveyance, fraudulent transfer, or preferential transfer under federal bankruptcy, state insolvency, or similar state or federal creditors' rights law; or ii. voidable transfer under the Uniform Voidable Transactions Act; or (b) because the Insured Mortgage constitutes a preferential transfer under federal bankruptcy, state insolvency, or similar state or federal creditors' rights law by reason of the failure: i. to timely record the Insured Mortgage in the Public Records after execution and delivery of the Insured Mortgage to the Insured; or ii. of the recording of the Insured Mortgage in the Public Records to impart notice of its existence to a purchaser for value or to a judgment or lien creditor. 14. Any defect in or lien or encumbrance on the Title or other matter included in Covered Risks 1 through 13 that has been created or attached or has been filed or recorded in the Public Records subsequent to the Date of Policy and prior to the recording of the Insured Mortgage in the Public Records. DEFENSE OF COVERED CLAIMS The Company will also policy, but only to the Countersigned: By: Stearns, Weaver, 150 West Flagle S Miami, FL 33130 Tel :305-789-3200 Fax:305-789-3395 e costs, attorneys' fees, and expenses incurred in defense of any matter insured against by this wovided in the Conditions. Weissler, Alhadeff & Sitterson, PA Suite 2200 FIDELITY NATIONAL TITLE INSURANCE COMPANY By: V�2 Michael J. Nolan `- President Attest: /�L'� �! 1larjrrrie tzur� Secretary EXCLUSIONS FROM COVERAGE The following matters are excluded from the coverage of regulation (including those relating to building and this policy, and the Company will not pay loss or damage, zoning) that restricts, regulates, prohibits, or costs, attorneys' fees, or expenses that arise by reason of: relates to: 1. (a) any law, ordinance, permit, or governmental (i) the occupancy, use, or enjoyment of the Land; 2751109 ALTA Loan Policy 07/01/21 w-FL Mod_511 Copyright 2021 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. Page 2 of 8 Jt- 2. (ii) the character, dimensions, or location of any improvement on the Land; (iii) the subdivision of land; or (iv) environmental remediation or protection; (b) any governmental forfeiture, police, regulatory, or national security power. (c) the effect of a violation or enforcement of any matter excluded under Exclusion 1.a. or 1.b. Exclusion 1 does not modify or limit the coverage provided under Covered Risk 5 or 6. Any power of eminent domain. Exclusion 2 does not modify or limit the coverage provided under Covered Risk 7. Any defect, lien, encumbrance, adverse claim, or other matter: (a) created, suffered, assumed, or agreed to by the Insured Claimant; (b) not Known to the Company, not recorded in the Public Records at the Date of Policy, but Known to the Insured Claimant and not disclosed in writing to the Company by the Insured Claimant prior to the date the Insured Claimant became an Insured under this policy; (c) resulting in no loss or damage to the Insured Claimant; (d) attaching or created subsequent to the Date of Policy (Exclusion 3.d. does not modify or limit the coverage provided under Covered Risk 11, 13, or 14); or (e) resulting in loss or damage that would not have been sustained if consideration sufficient to qualify the Insured named in Schedule A as a bona fide purchaser or encumbrancer had been given for the Insured Mortgage at the Date of Policy. 4. Unenforceability of the lien of the Insured Mortgage because of the inability or failure of an Insured to comply with applicable doing -business law. 5. Invalidity or unenforceability of the lien of the Insured Mortgage that arises out of the transaction evidenced by the Insured Mortgage and is based upon usury law or Consumer Protection Law. 6. Any claim, by reason of the operation of federal bankruptcy, state insolvency, or similar creditors' rights law, that the transaction creating the lien of the Insured Mortgage is a: (a) fraudulent conveyance or fraudulent transfer; (b) voidable transfer under the Uniform Voidable Transactions Act; or (c) preferential transfer: i. to the extent the Insured Mortgage is not a transfer made as a contemporaneous exchange for new value; or ii. for any other reason not stated in Covered Risk 13.b. 7. Any claim of a PACA-PSA Trust. Exclusion 7 does not modify or limit the coverage provided under Covered Risk 8. 8. Any lien on the Title for real estate taxes or assessments imposed by a governmental authority and created or attaching between the Date of Policy and the date of recording of the Insured Mortgage in the Public Records. Exclusion 8 does not modify or limit the coverage provided under Covered Risk 2.b. or 11.b. 9. Any discrepancy in the quantity of the area, square footage, or acreage of the Land or of any improvement to the Land. CONDITIONS DEFINITION OF TERMS In this policy, the following terms have the meanings given to them below. Any defined term includes both the singular and the plural, as the context requires: (a)"Affiliate": An Entity: i. that is wholly owned by the Insured; ii.that wholly owns the Insured; or iii.if that Entity and the Insured are both wholly owned by the same person or entity. (b)"Amount of Insurance": The Amount of Insurance stated in Schedule A, as may be increased by Condition 8.c.; decreased by Condition 10; or increased or decreased by endorsements to this policy. (c) "Consumer Protection Law": Any law regulating trade, lending, credit, sale, and debt collection practices involving consumers; any consumer financial law; or any other law relating to truth -in -lending, predatory lending, or a borrower's ability to repay a loan. (d)"Date of Policy": The Date of Policy stated in Schedule A. (e)"Discriminatory Covenant": Any covenant, condition, restriction, or limitation that is unenforceable under applicable law because it 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. (f) "Enforcement Notice": A document recorded in the Public Records that describes any part of the Land and: i. is issued by a governmental agency that identifies a violation or enforcement of a law, ordinance, permit, or governmental regulation; ii. is issued by a holder of the power of eminent domain or a governmental agency that identifies the exercise of a governmental power; or iii.asserts a right to enforce a PACA PSA Trust. (g) "Entity": A corporation, partnership, trust, limited liability company, or other entity authorized by law to own title to real property in the State where the Land is located. (h)"Government Mortgage Agency or Instrumentality": Any government agency or instrumentality that is the owner of the Indebtedness, an insurer, or a guarantor under an insurance contract or guaranty insuring or guaranteeing the Indebtedness, or any part of it, whether named as an Insured or not. (i) "Indebtedness": Any obligation secured by the Insured Mortgage, including an obligation evidenced by electronic means authorized by law. If that obligation is the payment of a debt, the Indebtedness is: i. the sum of: (a). principal disbursed as of the Date of Policy; (b). principal disbursed subsequent to the Date of Policy; (c). the construction loan advances made subsequent to the Date of Policy for the purpose of financing, in whole or in part, the construction of an improvement to the Land or related to the Land that the Insured was and continues to be obligated to advance at the Date of Policy and at the date of the advance; (d) interest on the loan; 2751109 ALTA Loan Policy 07/01/21 w-FL Mod_511 Copyright 2021 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. Page 3 of 8 `,k (e) prepayment premiums, exit fees, and other similar fees or penalties allowed by law; (f) expenses of foreclosure and any other costs of enforcement; (g) advances for insurance premiums; (h) advances to assure compliance with law or to protect the validity, enforceability, or priority of the lien of the Insured Mortgage before the acquisition of the estate or interest in the Title; including, but not limited to: (1) real estate taxes and assessments imposed by a governmental taxing authority, and (2) regular, periodic assessments by a property owners' association; and (i) advances to prevent deterioration of improvements before the Insured's acquisition of the Title, but ii. reduced by the sum of all payments and any amounts forgiven by an Insured. (j) "Insured": i. (a) The Insured named in Item 1 of Schedule A or future owner of the Indebtedness other than an Obligor, if the named Insured or future owner of the Indebtedness owns the Indebtedness, the Title, or an estate or interest in the Land as provided in Condition 2, but only to the extent the named Insured or the future owner either: (1). owns the Indebtedness for its own account or as a trustee or other fiduciary, or (2). owns the Title after acquiring the Indebtedness; (b) the person or Entity who has "control" of the "transferable record," if the Indebtedness is evidenced by a "transferable record," as defined by applicable electronic transactions law; (c) the successor to the Title of an Insured resulting from dissolution, merger, consolidation, distribution, or reorganization; (d) the successor to the Title of an Insured resulting from its conversion to another kind of Entity; (e) the grantee of an Insured under a deed or other instrument transferring the Title, if the grantee is an Affiliate; (f) an Affiliate that acquires the Title through foreclosure or deed -in -lieu of foreclosure of the Insured Mortgage; or (g) any Government Mortgage Agency or Instrumentality. ii. With regard to Conditions 1.j.i.(a). and 1.j.i.(b)., the Company reserves all rights and defenses as to any successor that the Company would have had against any predecessor Insured, unless the successor acquired the Indebtedness as a purchaser for value without Knowledge of the asserted defect, lien, encumbrance, adverse claim, or other matter insured against by this policy. iii. With regard to Conditions 1.j.i.(c)., 1.j.i.(d)., 1.j.i.(e)., and i.j.i.(f)., the Company reserves all rights and defenses as to any successor or grantee that the Company would have had against any predecessor Insured. (k) "Insured Claimant": An Insured claiming loss or damage arising under this policy. (1) "Insured Mortgage": The Mortgage described in Item 4 of Schedule A. (m) "Knowledge" or "Known": Actual knowledge or actual notice, but not constructive notice imparted by the Public Records. (n)"Land": The land described in Item 5 of Schedule A and improvements located on that land at the Date of Policy 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 insured by this policy. (o)"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. (p)"Obligor": A person or entity that is or becomes a maker, borrower, or guarantor as to all or part of the Indebtedness or other obligation secured by the Insured Mortgage. A Government Mortgage Agency or Instrumentality is not an Obligor. (q) "PACA-PSA Trust": A trust under the federal Per- ishable Agricultural Commodities Act or the federal Packers and Stockyards Act or a similar State or federal law. (r) "Public Records": The recording or filing system established under State statutes in effect at the Date of Policy 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. (s) "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. (t) "Title": The estate or interest in the Land identified in Item 2 of Schedule A. (u) "Unmarketable Title": The Title affected by an alleged or apparent matter that would permit a prospective purchaser or lessee of the Title, a lender on the Title, or a prospective purchaser of the Insured Mortgage to be released from the obligation to purchase, lease, or lend if there is a contractual condition requiring the delivery of marketable title. 2. CONTINUATION OF COVERAGE This policy continues as of the Date of Policy in favor of an Insured: (a) after the Insured's acquisition of the Title, so long as the Insured retains an estate or interest in the Land; and (b) after the Insured's conveyance of the Title, so long as the Insured: i. retains an estate or interest in the Land; ii. owns an obligation secured by a purchase money Mortgage given by a purchaser from the Insured; or iii. has liability for warranties given by the Insured in any transfer or conveyance of the Insured's Title. Except as provided in Condition 2, this policy terminates and ceases to have any further force or effect after the Insured conveys the Title. This policy does not continue in 2751109 ALTA Loan Policy 07/01/21 w-FL Mod_511 Copyright 2021 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. w =• Page 4 of 8 3. 4. L force or effect in favor of any person or entity that is not the Insured and acquires the Title or an obligation secured by a purchase money Mortgage given to the Insured. NOTICE OF CLAIM TO BE GIVEN BY INSURED CLAIMANT The Insured must notify the Company promptly in writing if the Insured has Knowledge of: (a) any litigation or other matter for which the Company may be liable under this policy; or (b) any rejection of the Title or the lien of the Insured Mortgage as Unmarketable Title. If the Company is prejudiced by the failure of the Insured Claimant to provide prompt notice, the Company's liability to the Insured Claimant under this policy is reduced to the extent of the prejudice. PROOF OF LOSS The Company may, at its option, require as a condition of payment that the Insured Claimant furnish a signed proof of loss. The proof of loss must describe the defect, lien, encumbrance, adverse claim, or other matter insured against by this policy that constitutes the basis of loss or damage and must state, to the extent possible, the basis of calculating the amount of the loss or damage. DEFENSE AND PROSECUTION OF ACTIONS (a) Upon written request by the Insured and subject to the options contained in Condition 7, the Company, at its own cost and without unreasonable delay, will provide for the defense of an Insured in litigation in which any third party asserts a claim covered by this policy adverse to the Insured. This obligation is limited to only those stated causes of action alleging matters insured against by this policy. The Company has the right to select counsel of its choice (subject to the right of the Insured to object for reasonable cause) to represent the Insured as to those covered causes of action. The Company is not liable for and will not pay the fees of any other counsel. The Company will not pay any fees, costs, or expenses incurred by the Insured in the defense of any cause of action that alleges matters not insured against by this policy. (b) The Company has the right, in addition to the options contained in Condition 7, at its own cost, to institute and prosecute any action or proceeding or to do any other act that, in its opinion, may be necessary or desirable to establish the Title or the lien of the Insured Mortgage, as insured, or to prevent or reduce loss or damage to the Insured. The Company may take any appropriate action under the terms of this policy, whether or not it is liable to the Insured. The Company's exercise of these rights is not an admission of liability or waiver of any provision of this policy. If the Company exercises its rights under Condition 5.b., it must do so diligently. (c) When the Company brings an action or asserts a defense as required or permitted by this policy, the Company may pursue the litigation to a final determination by a court having jurisdiction. The Company reserves the right, in its sole discretion, to appeal any adverse judgment or order. DUTY OF INSURED CLAIMANT TO COOPERATE (a) When this policy permits or requires the Company to prosecute or provide for the defense of any action or proceeding and any appeals, the Insured will secure to the Company the right to prosecute or provide defense in the action or proceeding, including the right to use, at its option, the name of the Insured for this purpose. When requested by the Company, the Insured, at the Company's expense, must give the Company all reasonable aid in: i. securing evidence, obtaining witnesses, prosecuting or defending the action or proceeding, or effecting settlement; and ii. any other lawful act that in the opinion of the Company may be necessary or desirable to establish the Title, the lien of the Insured Mortgage, or any other matter, as insured. If the Company is prejudiced by any failure of the Insured to furnish the required cooperation, the Company's liability and obligations to the Insured under this policy terminate, including any obligation to defend, prosecute, or continue any litigation, regarding the matter requiring such cooperation. (b) The Company may reasonably require the Insured Claimant to submit to examination under oath by any authorized representative of the Company and to produce for examination, inspection, and copying, at such reasonable times and places as may be designated by the authorized representative of the Company, all records, in whatever medium maintained, including books, ledgers, checks, memoranda, correspondence, reports, e-mails, disks, tapes, and videos, whether bearing a date before or after the Date of Policy, that reasonably pertain to the loss or damage. Further, if requested by any authorized representative of the Company, the Insured Claimant must grant its permission, in writing, for any authorized representative of the Company to examine, inspect, and copy all the records in the custody or control of a third party that reasonably pertain to the loss or damage. No information designated in writing as confidential by the Insured Claimant provided to the Company pursuant to Condition 6 will be later disclosed to others unless, in the reasonable judgment of the Company, disclosure is necessary in the administration of the claim or required by law. Any failure of the Insured Claimant to submit for examination under oath, produce any reasonably requested information, or grant permission to secure reasonably necessary information from third parties as required in Condition 6.b., unless prohibited by law, terminates any liability of the Company under this policy as to that claim. 7. OPTIONS TO PAY OR OTHERWISE SETTLE CLAIMS; TERMINATION OF LIABILITY In case of a claim under this policy, the Company has the following additional options: (a) To Pay or Tender Payment of the Amount of Insurance or to Purchase the Indebtedness i. To pay or tender payment of the Amount of Insurance under this policy. In addition, the Company will pay any costs, attorneys' fees, and expenses incurred by the Insured Claimant that were authorized by the Company up to the time of payment or tender of payment and that the Company is obligated to pay; or ii. To purchase the Indebtedness for the amount of the Indebtedness on the date of purchase. In addition, the Company will pay any costs, attorneys' fees, and expenses incurred by the Insured Claimant that were authorized by the Company up to the time of purchase and that the 2751109 ALTA Loan Policy 07/01/21 w-FL Mod_511 Copyright 2021 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 Ttle Association. = Page 5 of 8 _ Company is obligated to pay. If the Company purchases the Indebtedness, the Insured must transfer, assign, and convey to the Company the Indebtedness and the Insured Mortgage, together with any collateral security. Upon the exercise by the Company of either option provided for in Condition 7.a., the Company's liability and obligations to the Insured under this policy terminate, including any obligation to defend, prosecute, or continue any litigation. (b) To Pay or Otherwise Settle with Parties other than the Insured or with the Insured Claimant i. To pay or otherwise settle with parties other than the Insured for or in the name of the Insured Claimant. In addition, the Company will pay any costs, attorneys' fees, and expenses incurred by the Insured Claimant that were authorized by the Company up to the time of payment and that the Company is obligated to pay; or ii. To pay or otherwise settle with the Insured Claimant the loss or damage provided for under this policy. In addition, the Company will pay any costs, attorneys' fees, and expenses incurred by the Insured Claimant that were authorized by the Company up to the time of payment and that the Company is obligated to pay. Upon the exercise by the Company of either option provided for in Condition 7.b., the Company's liability and obligations to the Insured under this policy for the claimed loss or damage terminate, including any obligation to defend, prosecute, or continue any litigation. CONTRACT OF INDEMNITY; DETERMINATION AND EXTENT OF LIABILITY This policy is a contract of indemnity against actual monetary loss or damage sustained or incurred by an Insured Claimant who has suffered loss or damage by reason of matters insured against by this policy. This policy is not an abstract of the Title, report of the condition of the Title, legal opinion, opinion of the Title, or other representation of the status of the Title. All claims asserted under this policy are based in contract and are restricted to the terms and provisions of this policy. The Company is not liable for any claim alleging negligence or negligent misrepresentation arising from or in connection with this policy or the determination of the insurability of the Title. (a) The extent of liability of the Company for loss or damage under this policy does not exceed the least of: i. the Amount of Insurance; ii. the Indebtedness; iii. the difference between the fair market value of the Title, as insured, and the fair market value of the Title subject to the matter insured against by this policy; or iv. if a Government Mortgage Agency or Instrumentality is the Insured Claimant, the amount it paid in the acquisition of the Title or the Insured Mortgage or in satisfaction of its insurance contract or guaranty relating to the Title or the Insured Mortgage. (b) Fair market value of the Title in Condition 8.a.iii. is calculated using either: i. the date the Insured acquires the Title as a result of a foreclosure or deed in lieu of foreclosure of the Insured Mortgage; or ii. the date the lien of the Insured Mortgage or any assignment set forth in Item 4 of Schedule A is extinguished or rendered unenforceable by reason of a matter insured against by this policy. (c) If the Company pursues its rights under Condition 5.b. and is unsuccessful in establishing the Title or the lien of the Insured Mortgage, as insured: i. the Amount of Insurance will be increased by 15%; and ii. the Insured Claimant may, by written notice given to the Company, elect, as an alternative to the dates set forth in Condition 8.b., to use either the date the settlement, action, proceeding, or other act described in Condition 5.b. is concluded or the date the notice of claim required by Condition 3 is received by the Company as the date for calculating the fair market value of the Title in Condition 8.a.iii. (d) In addition to the extent of liability for loss or damage under Conditions 8.a. and 8.c., the Company will also pay the costs, attorneys' fees, and expenses incurred in accordance with Conditions 5 and 7. 9. LIMITATION OF LIABILITY (a) The Company fully performs its obligations and is not liable for any loss or damage caused to the Insured if the Company accomplishes any of the following in a reasonable manner: i. removes the alleged defect, lien, encumbrance, adverse claim, or other matter; H. cures the lack of a right of access to and from the Land; iii. cures the claim of Unmarketable Title; or iv. establishes the lien of the Insured Mortgage, all as insured. The Company may do so by any method, including litigation and the completion of any appeals. (b) The Company is not liable for loss or damage arising out of any litigation, including litigation by the Company or with the Company's consent, until a State or federal court having jurisdiction makes a final, non appealable determination adverse to the Title or to the lien of the Insured Mortgage. (c) The Company is not liable for loss or damage to the Insured for liability voluntarily assumed by the Insured in settling any claim or suit without the prior written consent of the Company. (d) An Insured Claimant must own the Indebtedness or have acquired the Title at the time that a claim under this policy is paid. (e) The Company is not liable for the content of the Transaction Identification Data, if any. 10. REDUCTION OR TERMINATION OF INSURANCE (a) All payments under this policy, except payments made for costs, attorneys' fees, and expenses, reduce the Amount of Insurance by the amount of the payment. However, any payment made by the Company prior to the acquisition of the Title as provided in Condition 2 does not reduce the Amount of Insurance afforded under this policy, except to the extent that the payment reduces the Indebtedness. (b) When the Title is acquired by the Insured as a result of foreclosure or deed in lieu of foreclosure, the amount credited against the Indebtedness does not reduce the Amount of Insurance. (c) The voluntary satisfaction or release of the Insured Mortgage terminates all liability of the Company, except as provided in Condition 2. 11. PAYMENT OF LOSS 2751109 ALTA Loan Policy 07/01/21 w-FL Mod_511 Copyright 2021 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. Page 6 of 8 12 13 When liability and the extent of loss or damage are determined in accordance with the Conditions, the Company will pay the loss or damage within 30 days. COMPANY'S RECOVERY AND SUBROGATION RIGHTS UPON SETTLEMENT AND PAYMENT (a) Company's Right to Recover i. If the Company settles and pays a claim under this policy, it is subrogated and entitled to the rights and remedies of the Insured Claimant in the Title or Insured Mortgage and all other rights and remedies in respect to the claim that the Insured Claimant has against any person, entity, or property to the fullest extent permitted by law, but limited to the amount of any loss, costs, attorneys' fees, and expenses paid by the Company. If requested by the Company, the Insured Claimant must execute documents to transfer these rights and remedies to the Company. The Insured Claimant permits the Company to sue, compromise, or settle in the name of the Insured Claimant and to use the name of the Insured Claimant in any transaction or litigation involving these rights and remedies. ii. If a payment on account of a claim does not fully cover the loss of the Insured Claimant, the Company defers the exercise of its subrogation right until after the Insured Claimant fully recovers its loss. (b)Company's Subrogation Rights against Obligors The Company's subrogation right includes the Insured's rights against Obligors including the Insured's rights to repayment under a note, indemnity, guaranty, warranty, insurance policy, or bond, despite any provision in those instruments that addresses recovery or subrogation rights. An Obligor cannot avoid the Company's subrogation right by acquiring the Indebtedness as a result of an indemnity, guaranty, warranty, insurance policy, or bond, or in any other manner. The Obligor is not an Insured under this policy. The Company may not exercise its rights under Condition 12.b. against a Government Mortgage Agency or Instrumentality. (c) Insured's Rights and Limitations i. The owner of the Indebtedness may release or substitute the personal liability of any debtor or guarantor, extend or otherwise modify the terms of payment, release a portion of the Title from the lien of the Insured Mortgage, or release any collateral security for the Indebtedness, if the action does not affect the enforceability or priority of the lien of the Insured Mortgage. ii. If the Insured exercises a right provided in Condition 12.c.i. but has Knowledge of any claim adverse to the Title or the lien of the Insured Mortgage insured against by this policy, the Company is required to pay only that part of the loss insured against by this policy that exceeds the amount, if any, lost to the Company by reason of the impairment by the Insured Claimant of the Company's subrogation right. POLICY ENTIRE CONTRACT (a) This policy together with all endorsements, if any, issued by the Company is the entire policy and contract between the Insured and the Company. In interpreting any provision of this policy, this policy will be construed as a whole. This policy and any endorsement to this policy may be evidenced by electronic means authorized by law. (b) Any amendment of this policy must be by a written endorsement issued by the Company. To the extent any term or provision of an endorsement is inconsistent with any term or provision of this policy, the term or provision of the endorsement controls. Unless the endorsement expressly states, it does not: i. modify any prior endorsement, ii. extend the Date of Policy, iii. insure against loss or damage exceeding the Amount of Insurance, or iv. increase the Amount of Insurance. 14. SEVERABILITY In the event any provision of this policy, in whole or in part, is held invalid or unenforceable under applicable law, this policy will be deemed not to include that provision or the part held to be invalid, but all other provisions will remain in full force and effect. 15. CHOICE OF LAW AND CHOICE OF FORUM (a) Choice of Law The Company has underwritten the risks covered by this policy and determined the premium charged in reliance upon the State law affecting interests in real property and the State law applicable to the interpretation, rights, remedies, or enforcement of policies of title insurance of the State where the Land is located. The State law of the State where the Land is located, or to the extent it controls, federal law, will determine the validity of claims against the Title or the lien of the Insured Mortgage and the interpretation and enforcement of the terms of this policy, without regard to conflicts of law principles to determine the applicable law. (b) Choice of Forum Any litigation or other proceeding brought by the Insured against the Company must be filed only in a State or federal court having jurisdiction. 16. NOTICES Any notice of claim and any other notice or statement in writing required to be given to the Company under this policy must be given to the Company at: FIDELITY NATIONAL TITLE INSURANCE COMPANY, Attn: Claims Department, P.O. Box 45023, Jacksonville, FL 32232- 5023. 17. ARBITRATION (a) All claims and disputes arising out of or relating to this policy, including any service or other matter in connection with issuing this policy, any breach of a policy provision, or any other claim or dispute arising out of or relating to the transaction giving rise to this policy, may be submitted to binding arbitration only when agreed to by both the Company and the Insured. Arbitration must be conducted pursuant to the Title Insurance Arbitration Rules of the American Land Title Association ("ALTA Rules"). The ALTA Rules are available online at www.alta.org/arbitration. The ALTA Rules incorporate, as appropriate to a particular dispute, the Consumer Arbitration Rules and Commercial Arbitration Rules of the American Arbitration Association ("AAA Rules"). The AAA Rules are available online at www.adr.org. (b) If there is a final judicial determination that a request for particular relief cannot be arbitrated in accordance with this Condition 17, then only that request for particular relief may be brought in court. All other requests for relief remain subject to this Condition 17. 2751109 ALTA Loan Policy 07/01/21 w-FL Mod_511 Copyright 2021 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. Page 7 of 8 (c) Fees will be allocated in accordance with the applicable AAA Rules. The results of arbitration will be binding upon the parties. The arbitrator may consider, but is not bound by, rulings in prior arbitrations involving different parties. The arbitrator is bound by rulings in prior arbitrations involving the same parties to the extent required by law. The arbitrator must issue a written decision sufficient to explain the findings and conclusions on which the award is based. Judgment upon the award rendered by the arbitrator may be entered in any State or federal court having jurisdiction. 2751109 ALTA Loan Policy 07/01/21 w-FL Mod _511 Copyright 2021 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. Page 8 of 8