Real Estate Title Document

REAL ESTATE TITLE DOCUMENT

This Real Estate Title Document (the "Document") is executed to set forth the status of title, identify encumbrances and exceptions, and record the representations, warranties and covenants of the parties with respect to the property described below. The parties intend that this Document be relied upon by purchasers, grantees, title insurers and lenders in connection with transfer and closing of the identified property.

Parties

Property Identification

Property Address:

Assessor's Parcel/Account Number (APN):

Title Certification and Seller's Representations

Seller hereby certifies, warrants and represents to Buyer as follows: Seller is the lawful owner of the Property and has full right, power and authority to convey the Property. Except as expressly disclosed in this Document, the Property is free and clear of all liens, mortgages, judgments, security interests, encumbrances, leases and claims of adverse possession.

Seller further represents that there are no outstanding bankruptcy proceedings, pending foreclosures, unpaid taxes, or recorded notices of default affecting the Property other than those identified in the Exceptions and Encumbrances section below.

Exceptions, Encumbrances and Liens

The following encumbrances, liens, easements, covenants, conditions, restrictions, assessments, or other exceptions are known to Seller and shall be disclosed to Buyer and title insurer. Seller agrees that marketable title shall be conveyed subject only to those listed below:

Seller declares that, other than those matters expressly listed in the List of Recorded Exceptions above, there are no liens, judgments, mechanics' liens, tax liens, or other encumbrances affecting the Property. If present, list outstanding mortgages or deeds of trust here:

Disclosures

Lead-Based Paint: Yes No

Known Mold or Water Intrusion: Yes No

Prior Material Structural Damage or Repairs: Yes No

Title Insurance and Closing

Title Insurance Commitment: Buyer requires delivery at closing of an acceptable owner's title insurance policy insuring fee simple marketable title to Buyer, subject only to the Exceptions and Recorded Matters specifically listed herein. Title insurance shall insure against defects in title existing as of the Closing Date.

Closing Date:    Possession Date:

Covenants, Indemnity and Remedies

Seller covenants to defend Buyer's title against any lawful claim arising from acts or omissions of Seller prior to the Closing Date except for matters listed as Exceptions. Seller agrees to indemnify Buyer and title insurer for losses, costs and expenses (including reasonable attorneys' fees) arising from undisclosed liens, encumbrances or breaches of Seller's representations.

In the event Seller fails to deliver marketable title at closing, Buyer may elect to (a) terminate this transaction and receive return of deposits, or (b) seek specific performance with an offset against purchase price for the cost to remove or cure title defects, in addition to any other remedies available at law or in equity.

Taxes, Assessments and Utilities

Seller shall pay all real property taxes, assessments and charges that are liens against the Property and are due and payable prior to the Closing Date. Any special assessments becoming a lien prior to Closing shall be disclosed and paid as provided in the parties' purchase agreement or as otherwise allocated by mutual agreement.

Governing Law; Entire Agreement

This Document shall be governed by and construed in accordance with the laws of the state in which the Property is located. This Document constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior oral or written agreements concerning the Property's title matters, except as otherwise provided in a separate purchase agreement signed by the parties.

Notices

All notices required or permitted under this Document shall be in writing and delivered to the party's mailing address provided in the Parties section above, or to such other address as a party designates in writing in accordance with this provision.

Acknowledgment

Each party signing below acknowledges that they have read and understand this Document, have had the opportunity to seek independent legal advice, and warrant that the information provided herein is true and correct to the best of their knowledge as of the date of signature.

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