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<br /> 7. The exercise of the rights of eminent domain if a notice of the exercise, describing any part of the Land, is recorded in the
<br /> Public Records.
<br /> 8. Any taking by a governmental body that has occurred and is binding on the rights of a purchaser for value without Knowledge.
<br /> 9. Title being vested other than as stated in Schedule A or being defective
<br /> (a) as a result of the avoidance in whole or in part, or from a court order providing an alternative remedy, of a transfer of all
<br /> or any part of the title to or any interest in the Land occurring prior to the transaction vesting Title as shown in Schedule
<br /> A because that prior transfer constituted a fraudulent or preferential transfer under federal bankruptcy, state insolvency,
<br /> or similar creditors' rights laws;or
<br /> (b) because the instrument of transfer vesting Title as shown in Schedule A constitutes a preferential transfer under federal
<br /> bankruptcy, state insolvency, or similar creditors' rights laws by reason of the failure of its recording in the Public
<br /> Records
<br /> (i) to be timely,or
<br /> (ii) to impart notice of its existence to a purchaser for value or to a judgment or lien creditor.
<br /> 10. Any defect in or lien or encumbrance on the Title or other matter included in Covered Risks 1 through 9 that has been created or
<br /> attached or has been filed or recorded in the Public Records subsequent to Date of Policy and prior to the recording of the deed
<br /> or other instrument of transfer in the Public Records that vests Title as shown in Schedule A.
<br /> ATG will also pay the costs, attorneys' fees, and expenses incurred in defense of any matter insured against by this Policy, but only to
<br /> the extent provided in the Conditions.
<br /> This policy shall become effective and binding when Schedule A and Schedule B and any endorsements are signed by a title insurance
<br /> agent or other authorized signatory of ATG.
<br /> EXCLUSIONS FROM COVERAGE
<br /> The following matters are expressly excluded from the coverage of this policy,and ATG will not pay loss or damage,costs,attorneys'fees,or expenses that arise by reason of:
<br /> 1. (a) Any law,ordinance,permit,or governmental regulation(including those relating to building and zoning)restricting,regulating,prohibiting,or relating to
<br /> (i) the occupancy,use,or enjoyment of the Land;
<br /> (ii) the character,dimensions,or location of any improvement erected on the Land;
<br /> (iii) the subdivision of land;or
<br /> (iv) environmental protection;
<br /> or the effect of any violation of these laws,ordinances,or governmental regulations.This Exclusion 1(a)does not modify or limit the coverage provided under Covered Risk 5.
<br /> (b) Any governmental police power.This Exclusion 1(b)does not modify or limit the coverage provided under Covered Risk 6.
<br /> 2. Rights of eminent domain.This Exclusion does not modify or limit the coverage provided under Covered Risk 7 or 8.
<br /> 3. Defects,liens,encumbrances,adverse claims,or other matters
<br /> (a) created,suffered,assumed,or agreed to by the Insured Claimant;
<br /> (b) not Known to ATG,not recorded in the Public Records at Date of Policy,but Known to the Insured Claimant and not disclosed in writing to ATG by the Insured Claimant prior to the date the Insured
<br /> Claimant became an Insured under this policy;
<br /> (c) resulting in no loss or damage to the Insured Claimant;
<br /> (d) attaching or created subsequent to Date of Policy(however,this does not modify or limit the coverage provided under Covered Risks 9 and 10);or
<br /> (e) resulting in loss or damage that would not have been sustained if the Insured Claimant had paid value for the Title.
<br /> 4. Any claim,by reason of the operation of federal bankruptcy,state insolvency,or similar creditors'rights laws,that the transaction vesting the Title as shown in Schedule A,is
<br /> (a) a fraudulent conveyance or fraudulent transfer;or
<br /> (b) a preferential transfer for any reason not stated in Covered Risk 9 of this policy.
<br /> 5. Any lien on the Title for real estate taxes or assessments imposed by governmental authority and created or attaching between Date of Policy and the date of recording of the deed or other instrument of
<br /> transfer in the Public Records that vests Title as shown in Schedule A.
<br /> CONDITIONS
<br /> 1. DEFINITION OF TERMS
<br /> The following terms when used in this policy mean:
<br /> (a) "Amount of Insurance":The amount stated in Schedule A,as may be increased or decreased by endorsement to this policy,increased by Section 8(b),or decreased by Sections 10 and 11 of these
<br /> Conditions.
<br /> (b) "Date of Policy":The date designated as"Date of Policy"in Schedule A.
<br /> (c) "Entity":A corporation,partnership,trust,limited liability company,or other similar legal entity.
<br /> (d) "Insured":The Insured named in Schedule A.
<br /> (i) The term"Insured"also includes
<br /> (A) successors to the Title of the Insured by operation of law as distinguished from purchase,including heirs,devisees,survivors,personal representatives,or next of kin;
<br /> (B) successors to an Insured by dissolution,merger,consolidation,distribution,or reorganization;
<br /> (C) successors to an Insured by its conversion to another kind of Entity;
<br /> (D) a grantee of an Insured under a deed delivered without payment of actual valuable consideration conveying the Title
<br /> (1) if the stock,shares,memberships,or other equity interests of the grantee are wholly-owned by the named Insured,
<br /> ATG FORM 1010-06
<br /> ©ATG(REV 1/12) Page 2 of 4
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