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Home My WebLink AboutDERR-2024-010359 Commitment for Title Insurance Utah - 2021 v. 01.00 (07-01-2021) This page is only a part of a 2021 ALTA Commitment for Title Insurance issued by First American Title Insurance Company. This Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I—Requirements; and Schedule B, Part II—Exceptions; and a counter-signature by the Company or its issuing agent that may be in electronic form. Copyright 2021 American Land Title Association. All rights reserved. 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. All other uses are prohibited. Reprinted under license from the American Land Title Association. Form 50122149 (5-16-22) Page 1 of 9 Transaction Identification Data, for which the Company assumes no liability as set forth in Commitment Condition 5.e.: Issuing Agent: First American Title Insurance Company National Commercial Services Issuing Office: 800 Boylston Street, Suite 2820, Boston, MA 02199 Issuing Office’s ALTA® Registry ID: 0049382 Commitment Number: NCS-1222627-BOS1 Escrow Officer: Adrianne Bynoe Issuing Office File Number: NCS-1222627-BOS1 Email: abynoe@firstam.com Property Address: 3715 South Tracy Hall Parkway, Provo, UT 84606 Revision Number: SCHEDULE A 1. Commitment Date: May 27, 2024 at 7:30 AM 2. Policy to be issued: a. ALTA® Extended Owner’s Policy Proposed Insured: To Be Determined Proposed Amount of Insurance: $1,000.00 Premium: $330.00 The estate or interest to be insured: See Item 3 below b. Endorsements Premium: $ 3. The estate or interest in the Land at the Commitment Date is: Fee Simple as to Tract 1 and Easement as to Tract 2 4. The Title is, at the Commitment Date, vested in: STAG Industrial Holdings, LLC, a Delaware limited liability company 5. The Land is described as follows: Real property in the County of Utah, State of UT, described as follows: Tract 1 (Fee Simple): Lot 1 of the official plat of the NEW VISTA SOUTH SUBDIVISION recorded November 7, 2019 in the Utah County recorder's office in Book 47, Page 358. Tract 2 (Easement): Non-exclusive access easement as set forth in that declaration of access easement recorded October 16, 2019 as Entry 106354:2019. The Land is described as follows: Commitment for Title Insurance Utah - 2021 v. 01.00 (07-01-2021) This page is only a part of a 2021 ALTA Commitment for Title Insurance issued by First American Title Insurance Company. This Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I—Requirements; and Schedule B, Part II—Exceptions; and a counter-signature by the Company or its issuing agent that may be in electronic form. Copyright 2021 American Land Title Association. All rights reserved. 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. All other uses are prohibited. Reprinted under license from the American Land Title Association. Form 50122149 (5-16-22) Page 2 of 9 Commitment No.: NCS-1222627-BOS1 SCHEDULE B, PART I—Requirements All of the following Requirements must be met: 1. The Proposed Insured must notify the Company in writing of the name of any party not referred to in this Commitment who will obtain an interest in the Land or who will make a loan on the Land. The Company may then make additional Requirements or Exceptions. 2. Pay the agreed amount for the estate or interest to be insured. 3. Pay the premiums, fees, and charges for the Policy to the Company. 4. Documents satisfactory to the Company that convey the Title or create the Mortgage to be insured, or both, must be properly authorized, executed, delivered, and recorded in the Public Records. 5. Provide releases, reconveyances, or other instruments, acceptable to the Company, including payment of any amounts due, removing the encumbrances shown in Schedule B, Part II that are objectionable to the Proposed Insured. 6. Provide us with copies of appropriate agreements, resolutions, certificates, or other evidence needed to identify the parties authorized to execute the documents creating the interest to be insured. 7. Provide us with any information regarding personal property taxes which may have been assessed or are due and payable which could become a lien on the real property. 8. The Restrictions on Foreign Acquisitions of Land Act, codified in Utah Code as §63L-13-101, §63L-13- 201, and §63L-13-202, effective May 3, 2023, prohibits acquisition of an interest in real property by certain foreign parties. Any loss or damage incurred resulting from a violation of this law is excluded from coverage under the terms of a title insurance policy. If a prohibited foreign entity is a party to this transaction, the Company must be notified in writing. The Company does not intend to knowingly close or insure a transaction that violates the referenced state law. 9. Provide Insurer a current Certified ALTA/NSPS Survey, the certificate of which must include the current Minimum Standard Detail Requirements. 10. Before Extended Coverage (Removal of Exceptions No. 1 through 6) can be given, a properly executed "Owners Affidavit - Utah Form" (Exhibits attached) must be submitted to the Title Officer prior to close of Escrow. Commitment for Title Insurance Utah - 2021 v. 01.00 (07-01-2021) This page is only a part of a 2021 ALTA Commitment for Title Insurance issued by First American Title Insurance Company. This Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I—Requirements; and Schedule B, Part II—Exceptions; and a counter-signature by the Company or its issuing agent that may be in electronic form. Copyright 2021 American Land Title Association. All rights reserved. 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. All other uses are prohibited. Reprinted under license from the American Land Title Association. Form 50122149 (5-16-22) Page 3 of 9 Commitment No.: NCS-1222627-BOS1 SCHEDULE B, PART II—Exceptions Some historical land records contain Discriminatory Covenants that are illegal and unenforceable by law. This Commitment and the Policy treat any Discriminatory Covenant in a document referenced in Schedule B as if each Discriminatory Covenant is redacted, repudiated, removed, and not republished or recirculated. Only the remaining provisions of the document will be excepted from coverage. The Policy will not insure against loss or damage resulting from the terms and conditions of any lease or easement identified in Schedule A, and will include the following Exceptions unless cleared to the satisfaction of the Company: 1. (a) Taxes or assessments that 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; (b) proceedings by a public agency that 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. 2. Any facts, rights, interest, or claims which are not shown by the Public Records but that could be ascertained by an inspection of the Land or by making inquiry of persons in possession thereof. 3. Easements, claims of easement or encumbrances that are not shown by the Public Records. 4. Any encumbrance, violation, variation, adverse circumstance, boundary line overlap, or encroachment (including an encroachment of an improvement across the boundary lines of the Land), that would be disclosed by an accurate and complete land title survey of the Land and that are not shown in 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. Any lien or right to a lien for services, labor, material or equipment, unless such lien is shown by the Public Records at Date of Policy and not otherwise excepted from coverage herein. 7. Any defect, lien, encumbrance, adverse claim, or other matter that appears for the first time in the Public Records or is created, attaches, or is disclosed between the Commitment Date and the date on which all of the Schedule B, Part I—Requirements are met. 8. Taxes for the year 2024 now a lien, not yet due. General property taxes for the year 2023 were paid in the amount of $208,082.68. Tax Parcel No. 47-358-0001. Tax Parcel No. 47-358-0001.