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2020.01.21 Planning Commission
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2020.01.21 Planning Commission
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This page is only a part of a 2016 ALTA® Commitment for Title Insurance. This Commitment is not valid without the Notice; the Commitment to Issue <br />Policy; the Commitment Conditions; Schedule A; Schedule B, Part I - Requirements; and Schedule B, Part II - Exceptions; and a countersignature by the <br />Company or its issuing agent that may be in electronic form. <br />Copyright 2006-2016 American Land Title Association. All rights reserved. <br />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. <br />All other uses are prohibited. Reprinted under license from the American Land Title Association. <br />LT File No. : 554740 <br />008-UN ALTA Commitment For Title Insurance 8-1-16 <br />Page 3 of 9 <br />(d) The Company’s liability shall not exceed the lesser of the Proposed Insured’s actual expense incurred in good <br />faith and described in Commitment Conditions 5(a)(i) through 5(a)(iii) or the Proposed Policy Amount. <br />(e) The Company shall not be liable for the content of the Transaction Identification Data, if any. <br />(f)In no event shall the Company be obligated to issue the Policy referred to in this Commitment unless all of the <br />Schedule B, Part I - Requirements have been met to the satisfaction of the Company. <br />(g) In any event, the Company’s liability is limited by the terms and provisions of the Policy. <br />6.LIABILITY OF THE COMPANY MUST BE BASED ON THIS COMMITMENT <br />(a) Only a Proposed Insured identified in Schedule A, and no other person, may make a claim under this <br />Commitment. <br />(b)Any claim must be based in contract and must be restricted solely to the terms and provisions of this <br />Commitment. <br />(c) Until the Policy is issued, this Commitment, as last revised, is the exclusive and entire agreement between the <br />parties with respect to the subject matter of this Commitment and supersedes all prior commitment negotiations, <br />representations, and proposals of any kind, whether written or oral, express or implied, relating to the subject <br />matter of this Commitment. <br />(d) The deletion or modification of any Schedule B, Part II - Exception does not constitute an agreement or obligation <br />to provide coverage beyond the terms and provisions of this Commitment or the Policy. <br />(e) Any amendment or endorsement to this Commitment must be in writing and authenticated by a person authorized <br />by the Company. <br />(f) When the Policy is issued, all liability and obligation under this Commitment will end and the Company’s only <br />liability will be under the Policy. <br />7. IF THIS COMMITMENT HAS BEEN ISSUED BY AN ISSUING AGENT <br />The issuing agent is the Company’s agent only for the limited purpose of issuing title insurance commitments and <br />policies. The issuing agent is not the Company’s agent for the purpose of providing closing or settlement services. <br />8. PRO-FORMA POLICY <br />The Company may provide, at the request of a Proposed Insured, a pro-forma policy illustrating the coverage that the <br />Company may provide. A pro-forma policy neither reflects the status of Title at the time that the pro-forma policy is <br />delivered to a Proposed Insured, nor is it a commitment to insure. <br />9. ARBITRATION <br />The Policy contains an arbitration clause. All arbitrable matters when the Proposed Policy Amount is $2,000,000 or <br />less shall be arbitrated at the option of either the Company or the Proposed Insured as the exclusive remedy of the <br />parties. A Proposed Insured may review a copy of the arbitration rules at <http://www.alta.org/arbitration>. <br />STEWART TITLE GUARANTY COMPANY <br />All notices required to be given the Company and any statement in writing required to be furnished the Company shall <br />be addressed to it at P.O. Box 2029, Houston, Texas 77252-2029.
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