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Commitment for Title Insurance Lots 22 and 23AMERICAN LAND TITLE ASSOCIATION COMMITMENT — 1966 CHICAGO TITLE INSURANCE COMPANY COMMITMENT FOR TITLE INSURANCE CHICAGO TITLE INSURANCE COMPANY, a corporation of Missouri, herein called the Company, for a valuable consideration, hereby commits to issue its policy or policies of title insurance, as identified in Schedule A, in favor of the proposed Insured named in Schedule A, as owner or mortgagee of the estate or interest covered hereby in the land described or referred to in Schedule A, upon payment of the premiums and charges therefor; all subject to the provisions of Schedules A and B and to the Conditions and Stipulations hereof. This Commitment shall be effective only when the identity of the proposed Insured and the amount of the policy or policies committed for have been inserted in Schedule A hereof by the Company, either at the time of the issuance of this Commitment or by subsequent endorsement. This Commitment is preliminary to the issuance of such policy or policies of title insurance and all liability and obligations hereunder shall cease and terminate six months after the effective date hereof or when the policy or policies committed for shall issue, whichever first occurs, provided that the failure to issue such policy or policies is not the fault of the Company. IN WITNESS WHEREOF, Chicago Title Insurance Company has caused this Commitment to be signed and sealed as of the effective date of Commitment shown in Schedule A, the Commitment to become valid when countersigned by an authorized signatory. Issued by: Sterling Title Services P.O. Box 73.211 South Main Street Kalispell, MT 59903 Phone: 406-752-7000 Title .Fax: 406-75 2-7207 Escrow Fax: 406-257-5663 xlkzf4"""'�f'Ax'� —1 — " Authorized gnatory CHICAGO TITLE INSURANCE COMPANY By: President. ATTEST: � A Secretary. Copyright 1966 American Land Title Association C O M M I T M E N T F O R T I T L E I N S U R A N C E SCHEDULE A File Number: CG-24598 1. Effective Date: July 30, 1997 at 8:00 a.m. 2. Policy or Policies to be issued: A. (x) ALTA Owner's Policy, (4-6-90) Proposed Insured: H & H ENTERPRISE B. (x) ALTA Loan Policy, (4-6-90) Proposed Insured: FIRST SECURITY BANK C. (x) Standard Coverage ( ) Extended Coverage Amount: $32,000.00 Premium: $40.00 (X) Standard Coverage ( ) Extended Coverage Amount: $100,000.00 Premium: $559.00 Amount: $ Premium: $ 3. The estate or interest in the land described or referred to in this Commitment and covered herein is: FEE SIMPLE ESTATE 4. Title to the Fee Simple estate or interest in said land is at the effective date hereof vested in: CITY OF KALISPELL 5. The land referred to in this Commitment is described as follows: SEE SCHEDULE C ATTACHED HERETO .... C O M M I T M E N T F O R T I T L E I N S U R A N C E SCHEDULE B - SECTION I File Number: CG-24598 Page: 3 Schedule B of the policy or policies to be issued will contain exceptions to the following matters unless the same are disposed of to the satisfaction of the Company. A. Defects, liens, encumbrances, adverse claims or other matters, if any, created, first appearing in the public records, or attaching subsequent to the effective date hereof but prior to the date the proposed insured acquires of record for value the estate or interest or mortgage thereon covered by this Commitment. B. GENERAL EXCEPTIONS: (1) Rights or claims of parties in possession not shown by the public records. (2) Encroachments, overlaps, boundary line disputes, and any other matters which would be disclosed by an accurate survey and inspection of the premises including, but not limited to, insufficient or impaired access or matters contradictory to any survey plat shown by the public records. (3) Easements, or claims of easements, not shown by the public records. (4) Any lien, or right to a lien, for services, labor, or material heretofore or hereafter furnished, imposed by law and not shown by the public records. (5) (a) unpatented mining claims: (b) reservations or exceptions in patents or in Acts authorizing the issuance thereof; (c) water rights, claims or title to water, whether or not the matters excepted under (a), (b), or (c) are shown by the public records. (6) Taxes or special assessments which are not shown as existing liens by the records of any taxing authority that levies taxes or assessments on real property or by the public records. Proceedings by a public agency which may result in taxes or assessments, or notices of such proceedings, whether or not shown by the records of such agency or by the public records.* * Paragraphs 1, 2, 3, 4, 5 and 6 will not appear as printed exceptions on extended coverage policies, except as to such parts thereof which may be typed as a Special Exception in Schedule B-Section 2. C. SPECIAL EXCEPTIONS: (See Schedule B-Section 2 beginning on next page) C O M M I T M E N T F O R T I T L E I N S U R A N C E SCHEDULE B - SECTION 2 File Number: CG-24598 SPECIAL EXCEPTIONS: 1. Property taxes, including any assessments collected with the taxes, for the year 1997. 2. Delinquent water and sewer charges of the City of Kalispell, if any. 3. Mineral rights, claims or title to minerals, including but not limited to metals, oil, gas, coal, hydrocarbons, sand, gravel, stone, or rights relating thereto. 4. Water Right, recorded August 31, 1885 in Book 16, page 4; and recorded April 12, 1889 in Book 36, page 24, all records of Flathead County, Montana. 5. Notice of Appropriation of Water and creation of reservoir for the storage of said appropriated water, recorded May 3, 1941 in Book 243, page 180, records of Flathead County, Montana. 6. Agreement recorded May 5, 1944 in Book 257, page 92, records of Flathead County, Montana. 7. Easement recorded May 5, 1944 in Book 257, page 92, records of Flathead County, Montana. 8. Agreement executed by and between Manuel V. Bauska, et al, and The City of Kalispell, recorded November 24, 1976 under Recorder's Fee #13346, in Book 608, page 216, records of Flathead County, Montana. 9. Resolution No. 3091 recorded November 24, 1976 under Recorder's Fee #13347, in Book 608, page 221, records of Flathead County, Montana. 10. Ordinance No. 865 recorded November 24, 1976 under Recorders' Fee #13348, in Book 608, page 222, records of Flathead County, Montana. 11. Declaration of Conditions, Covenants, and Restrictions and any rights, provisions, powers, obligations, liens or charges as provided therein, but omitting any covenant or restriction based on race, color, religion, sex, handicap, familial status or national origin, unless and only to the extent that said covenant (a) is exempt under Chapter 42, Section 3607 of the United States Code or (b) relates to handicap but does not discriminate against handicapped persons, recorded November 24, 1976 under Recorder's Fee f13349, in Book 608, page 226, records of Flathead County, Montana, and any amendments thereto, including but not limited to the following amendments: Amendment recorded June 9, 1977 under Recorder's Fee #7327, in Book 618, page 206, and recorded October 1, 1980 under Recorder's Fee #13972, in Book 702, page 317, records of Flathead County, Montana. 12. Ten foot Drainage and Utility Easement as shown on the plats of Porta Villa Subdivision No. 2 and Porta Villa Subdivision No. 3 and on the plat of Teton Terrace. 13. Five foot Landscape Buffer Strip as shown on the plat of Porta Villa Subdivision No. 3. 14. Easement for drainage easement and related purposes granted to the public recorded November 24, 1976 under Recorder's Fee #13350, in Book 608, page 232, records of Flathead County, Montana. 15. Easement for transmission line and related purposes granted Pacific Power & Light Company, a corporation, recorded September 15, 1978 under Recorder's Fee ,#14052, in Book 651, page 395, records of Flathead County, Montana. 16. Easement for Ingress, Egress and Utilities granted to H & F Enterprises, recorded June 20, 1985 as Document #8517112120, records of Flathead County, Montana. 17. Grant of Conditional Use granted to City of Kalispell, recorded January 12, 1996 as Document #9601208440, records of Flathead County, Montana. 18. Five foot Drainage and Utility Easement as shown on the plat of Teton Terrace. 19. Single lot utility service easements as shown on the plat of Teton Terrace. 20. Certificate of Utilities as set out on the plat of Teton Terrace. 21. Certificate Of Waiver Of Park Land Dedication And Acceptance Of Cash In Lieu Thereof, as set out on the Plat of Teton Terrace. 22. Declaration of Conditions, Covenants, and Restrictions and any rights, provisions, powers, obligations, liens or charges as provided therein, but omitting any covenant or restriction based on race, color, religion, sex, handicap, familial status or national origin, unless and only to the extent that said covenant (a) is exempt under Chapter 42, Section 3607 of the United States Code or (b) relates to handicap but does not discriminate against handicapped persons, recorded February 27, 1997 as Document #199705815060, records of Flathead County, Montana, and any amendments thereto, including but not limited to the following amendments: None 23. Bylaws of Teton Terrace Homeowners Association, recorded February 27, 1997 as Document #199705815070, records of Flathead County, Montana. Note: The following endorsements will be attached to the policy or policies to be issued: LOAN POLICY: None OWNERS POLICY: None THIS COMMITMENT IS NOT VALID WITHOUT SCHEDULE B - SECTION 1 C O M M I T M E N T F O R T I T L E I N S U R A N C E SCHEDULE C File Number: CG-24598 The land referred to in this Commitment is described as follows: Lots 22 and 23 of TETON TERRACE, according to the map or plat thereof on file and of record in the office of the Clerk and Recorder of Flathead County, Montana. STANDARD EXCEPTIONS FOR OWNER'S POLICY The owner's policy will be subject to the mortgage, if any, noted under item one of Section 1 of Schedule B hereof and to the following exceptions: (1) rights or claims of parties in possession not shown by the public records; (2) encroachments, overlaps, boundary line disputes, and any matters which would be disclosed by an accurate survey and inspection of the premises; (3) easements, or claims of easements, not shown by the public records; (4) any lien, or right to a lien, for services, labor, or material heretofore or hereafter furnished, imposed by law and not shown by the public records; (5) taxes or special assessments which are not shown as existing liens by the public records. CONDITIONS AND STIPULATIONS 1. The term "mortgage," when used herein, shall include deed of trust, trust deed, or other security instrument. 2. If the proposed Insured has or acquires actual knowledge of any defect, lien, encumbrance, adverse claim or other matter affecting the estate or interest or mortgage thereon covered by this Commitment other than those shown in Schedule B hereof, and shall fail to disclose such knowledge to the Company in writing, the Company shall be relieved from liability for any loss or damage resulting from any act of reliance hereon. to the extent the Company is prejudiced by failure to so disclose such knowledge. If the proposed Insured shall disclose such knowledge to the Company, or if the Company otherwise acquires actual knowledge of any such defect, lien, encumbrance, adverse claim or other matter, the Company at its option may amend Schedule B of this Commit- ment accordingly, but such amendment shall not relieve the Company from liability previously incurred pursuant to paragraph 3 of these Conditions and Stipulations. 3. Liability of the Company under this Commitment shall be only to the named proposed Insured and such parties included under the definition of Insured in the form of policy or policies committed for and only for actual loss incurred in reliance hereon in undertaking in good faith (a) to comply with the requirements hereof, or (b) to eliminate exceptions shown in Schedule B, or (c) to acquire or create the estate or interest or mortgage thereon covered by this Commitment. In no event shall such liability exceed the amount stated in Schedule A for the policy or policies committed for and such liability is subject to the insuring provisions, the Exclusions from Coverage and the Conditions and Stipulations of the form of policy or policies committed for in favor of the proposed Insured which are hereby incorporated by reference and are made a part of this Commitment except as expressly modified herein. 4. Any action or actions or rights of action that the proposed Insured may have or may bring against the Company arising out of the status of the title to the estate or interest or the status of the mortgage thereon covered by this Commitment must be based on and are subject to the provisions of this Commitment.