Real Estate Tile Document

REAL ESTATE TITLE DOCUMENT — AFFIDAVIT OF TITLE

Parties and Transaction

Seller Name:   Seller Address:

Buyer Name:   Buyer Address:

Closing Date:   Escrow/Title Company:

Property Identification

Recitals and Certification

This Affidavit of Title is made by Seller in favor of Buyer and the title insurer for the purpose of inducing issuance of title insurance and completion of the transaction described above. Seller certifies, represents, and warrants to Buyer as follows:

1. Ownership: Seller is the sole owner of the Property and holds title in fee simple, free and clear of all claims except as expressly disclosed in Section titled "Permitted Exceptions". Seller has full right and authority to transfer the Property to Buyer.

2. Purchase Price: The total purchase price for the Property under the underlying purchase agreement is . Earnest money deposited with escrow is .

3. Encumbrances: Except as disclosed in this document and recorded matters of public record, there are no outstanding mortgages, deeds of trust, security interests, liens, assessments, or other encumbrances against the Property. Seller shall list known exceptions in "Permitted Exceptions."

Disclosures

Lead-Based Paint (if applicable):  Yes No

Mold or Water Intrusion (known):  Yes No

Prior Structural Damage or Repairs (known):  Yes No

Permitted Exceptions and Title Matters

Permitted Exceptions: Seller discloses the following recorded matters, easements, restrictions, encroachments, covenants, conditions and exceptions to title that shall be permitted at closing. If none, state "None".

Representations, Warranties and Covenants

1. Taxes and Assessments: All property taxes and assessments due and payable prior to the Closing Date have been paid, and no tax lien or assessment is outstanding except as disclosed above.

2. Litigation and Bankruptcy: There are no pending or threatened actions, claims, or proceedings affecting Seller's title to the Property, nor is Seller a party to any bankruptcy proceeding, except as disclosed in writing to Buyer and title insurer.

3. Hazardous Substances: To Seller's knowledge, no hazardous materials have been used, released, stored, or disposed on the Property in violation of environmental laws, except as disclosed in writing to Buyer and title insurer.

4. Alterations and Contracts: There are no uncompleted contracts for work affecting the Property that could give rise to mechanic's or construction liens, and no material improvements have been made without obtaining required permits.

Indemnity, Remedies and Survival

Seller agrees to indemnify, defend and hold harmless Buyer and title insurer from and against any loss, liability, claim, cost or expense (including reasonable attorneys' fees) arising out of any breach of Seller's representations or failure to disclose matters required by this Affidavit. This obligation shall survive Closing.

If Seller's title is found not merchantable or marketable as of Closing because of matters that existed prior to Closing and were not disclosed, Buyer may seek specific performance, damages, or rescission as provided by law; Seller's liability shall be limited to reasonable costs to cure title and other direct damages proven by Buyer.

Miscellaneous Provisions

Governing Law: This Affidavit shall be governed by and interpreted in accordance with the laws of the state where the Property is located.

Entire Agreement: This document, together with the Purchase Agreement and escrow instructions, constitutes the entire agreement between the parties with respect to the subject matter and supersedes all prior statements and agreements, whether written or oral.

Acknowledgment

Seller affirms under penalty of perjury that the facts set forth in this Affidavit are true and correct to the best of Seller's knowledge as of the date signed below.

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