DERR-2025-008055

Mayflower Environmental Covenant – Repository Covenant #2
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To be recorded with the Wasatch County
Recorder—Utah Code § 57-25-108

When Recorded Return To:
BLX Lot 22 LLC
9109 N. Mayflower Village Drive
Park City, Utah 84098

With Copy To:
Utah Department of Environmental Quality
Division of Environmental Response and Remediation
195 North 1950 West
P.O. Box 144840
Salt Lake City, Utah 84114-3100

Deer Valley East Village/Mayflower Mine Area/Repository No. 2

All of Parcel No. 00-0021-8448

ENVIRONMENTAL COVENANT

1. This Environmental Covenant is executed by BLX Lot 22 LLC, a subsidiary of BLX
Mayflower LLC (“BLXM”), as owner (“Owner”), grantor (“Grantor”) and holder (“Holder”), the
Mountainside Master Association, Inc., (“Master HOA”) as holder (“Holder”), and the Director of
the Utah Division of Environmental Response and Remediation (“Director”) on behalf of the Utah
Department of Environmental Quality (“UDEQ”), pursuant to the Utah Environmental Covenants
Act, Utah Code § 57-25-101 et seq. (the “Act”) for the purpose of subjecting the real property
described in Paragraph 3 and Exhibit A attached hereto (the “Property”) to the activity and use
limitations set forth herein. This Environmental Covenant shall run with the land, pursuant to and
subject to the Act. This Environmental Covenant shall be perpetual unless amended or terminated
in accordance with the Act and Paragraph 21.

2. Notice of Contamination. Notice is hereby given that the Property is or may be
contaminated with a contaminant as defined in Utah Code § 19-8-102(5). This Environmental
Covenant is imposed to mitigate the risk to human health and the environment.

Mayflower Environmental Covenant – Repository Covenant #2
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3. Property. This Environmental Covenant concerns portions of the real property located in
Section 25, Township 2 South, Range 4 East of the Salt Lake Base and Meridian, Wasatch County,
Utah, Lot 31 of the MIDA Master Development Plat Amended 2023 (Parcel No. 00-0021-8448),
more particularly described in Exhibit A and depicted as Covenant #2 in Exhibit B, attached hereto
(“Property”).

4. Environmental Response Project.

A. BLXM conducted an environmental remediation project at the former Mayflower Mine
site under the authority of the Utah Voluntary Cleanup Program (“VCP”), Title 19,
Chapter 8 of the Utah Code, as administered by the Division of Environmental
Response and Remediation (“DERR”) under the UDEQ. The VCP was assigned Site
ID #C090 and titled the Mayflower Mine and Associated Areas in the Blue Ledge
Mining District (“Site”), located near the Mayflower Exit on U.S. Highway 40,
Wasatch County, Utah.

B. Portions of the Site have been impacted by historic mining activities related to the
former Mayflower Mine and other sites within the Blue Ledge Mining District.
Sampling within the Site indicated that soil, sediment, surface water, and groundwater
contained elevated concentrations of metals and/or petroleum constituents.
Contaminants of Concern (“COCs”) identified included arsenic and lead in topsoil;
arsenic, cadmium, copper, lead, and TPH-DRO in subsurface soil; arsenic, cadmium,
copper, lead, nickel, and zinc in sediment; cadmium, copper, iron, lead, and zinc in
surface water; and TPH-DRO and cadmium in groundwater.

C. A Remedial Action Plan (“RAP”) was developed to facilitate the cleanup and
redevelopment of the Site. The remedial activities conducted at the Site included the
removal of impacted soils and sediments exceeding site-specific cleanup levels for the
specific media and placing them in an onsite repository, which includes an engineered
cap and drainage controls to mitigate potential exposure to impacted materials (the
“Repository”), as depicted in its entirety in Exhibit B. The Repository is sited within
the former waste rock area of the Mayflower Mine.

D. The Repository, a portion of which is also defined as the Property herein, will be
maintained under a Site Management Plan (“SMP”) dated May 23, 2025, as may be
amended from time to time without amendment to this Environmental Covenant, which
prescribes management actions.

E. BLXM prepared the Master Declaration of Covenants, Conditions, Restrictions and
Easements for Mountainside Village and Resort dated August 20, 2020, and recorded
on August 21, 2020, as Entry No. 483140 in Book 1308 at Page 27, and associated
amendments (“Master CC&Rs”), which covers and includes the Property subject to this

Mayflower Environmental Covenant – Repository Covenant #2
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Environmental Covenant. BLXM also organized the Master HOA under the Articles
of Incorporation of Mountainside Master Association, Inc., dated August 20, 2020 and
charged it with administering the Master CC&Rs as well as implementing the SMP.

5. Administrative Record. The Property is within a VCP Site. The VCP Site is titled the
Mayflower Mine and Associated Areas in the Blue Ledge Mining District. The VCP Site ID
number is Site ID #C090. The Site is located in Wasatch County, Utah. The administrative record
for the Site is on file with DERR.

6. Grantor. BLX Lot 22 LLC is the Grantor of this Environmental Covenant. The Grantor of
this Environmental Covenant is also the Owner of the Property as defined in Paragraph 7 and a
Holder as defined in Paragraph 10, below.

7. Owner. An “Owner” is any person or entity that holds any interest in the Property,
including, without limitation, the owner of the fee simple estate, any assign, successor-in-interest,
mortgagee, lender, easement holder, lessee, and any other person or entity who acquires any
interest whatsoever in the Property, or any portion thereof, whether or not any reference to this
Environmental Covenant or its provisions are contained in the deed or other conveyance
instrument, or other agreements by which such person or entity acquires its interest in the Property
or any portion thereof. An “Owner” is neither the Agency as defined in the Act and herein, nor a
Holder under this Environmental Covenant who holds no other interest in the Property.

8. Transferees. A Transferee is a person or entity to whom an Owner transfers the Owner’s
obligations under this Environmental Covenant. A Transferee is any assign or successor in interest,
including without limitation a future owner of an interest in fee simple, mortgagee, lender,
easement holder, lessee, and any other person or entity who acquires any interest whatsoever in the
Property, or any portion thereof, whether or not any reference to this Environmental Covenant or
its provisions are contained in the deed or other conveyance instrument, or other agreements by
which such person or entity acquires its interest in the Property or any portion thereof.

9. Transfer of Obligations. Except as provided in this Environmental Covenant, when the
Owner of any interest transfers that interest to a Transferee, the Owner’s obligations under this
Environmental Covenant transfer to the Transferee, who then becomes an Owner. When the Owner
of the fee simple estate transfers a lesser interest, or when an Owner who holds a lesser interest
transfers that lesser interest or any portion thereof, the Owner’s obligations under this
Environmental Covenant continue and the Transferee acquires the same obligations to the extent
of the interest it acquires. Notwithstanding the foregoing, nothing herein shall relieve an Owner of
an interest in the Property of its responsibilities to comply with the terms hereof and all other
provisions of applicable law or of responsibility for its failure to comply during the time it held an
interest in the Property.

Mayflower Environmental Covenant – Repository Covenant #2
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10. Holder. BLX Lot 22 LLC is a Grantor and Holder of this Environmental Covenant as
defined in the Act. Master HOA is also a Holder of this Environmental Covenant as defined in the
Act.

11. Rights and Obligations of Holder. Any Holder may enforce this Environmental Covenant.
A Holder’s obligations hereunder are limited to the specific provisions and the limited purposes
described in this Environmental Covenant. A Holder may be removed and replaced through an
amendment to this Environmental Covenant as described in paragraph 21. Subject to the
provisions hereof, a Holder’s rights and obligations survive the transfer of the Property.

12. Agency. The Utah Department of Environmental Quality is the Agency under this
Environmental Covenant as defined in the Act. The Agency may enforce this Environmental
Covenant. The Agency assumes no affirmative duties through the execution of this Environmental
Covenant.

13. Activity and Use Limitations and Maintenance Requirements. As part of the VCP
environmental response project described above, Grantor hereby imposes and any Owner shall
comply with the following activity and use limitations and maintenance requirements:

A. Activity and Use Limitations:

i. Groundwater shall not be accessed for drinking water, irrigation or bathing
purposes.

ii. The Property, as referenced in paragraph 3 above, and as further described
and depicted in Exhibits A and B hereto, shall be limited to use as a
Repository, as set forth in the SMP, and as supporting infrastructure for the
commercial development, such as, but not limited to, a transit station and
parking lot. This area shall not be used or developed for other uses without
amendment to this Environmental Covenant. The Repository shall not be
breached or disturbed other than through a work plan approved by the
Agency in advance of the work.

B. Maintenance Requirements. The Owner shall ensure that the integrity of the
Repository is maintained as described in the SMP. The SMP is available in the
Administrative Record.

C. Site Management Plan. The Owner and its designee, the Master HOA, shall comply
with the SMP.

Mayflower Environmental Covenant – Repository Covenant #2
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D. Master CC&Rs. The Owner and the Master HOA shall comply with the
corresponding responsibilities referenced in Paragraph 13 and the associated Master
CC&Rs to manage, monitor and maintain the Repository.

E. Worker Health and Safety. Owner shall notify onsite workers of the health and safety
requirements and ensure such requirements are followed if workers come into contact
with impacted soils or groundwater.

14. Notice of Breach. If any event or action by or on behalf of a person or entity who holds
an interest in or holds an encumbrance on the Property constitutes a breach of the activity and use
limitations, the Owner shall notify the Agency within thirty (30) days of becoming aware of the
event or action, and shall remedy the breach of the activity and use limitations within sixty (60)
days of becoming aware of the event or action. This paragraph does not change or limit any
requirements or time frames for inspections, reporting, maintenance or repair as set forth in the
SMP as referenced in Paragraph 13.

15. Running with the Land. This Environmental Covenant shall be binding upon the Owner
and all assigns and successors in interest, including any Transferee, and shall run with the land
pursuant to Utah Code § 57-25-105, subject to amendment or termination as set forth in the Act
and herein.

16. Compliance Enforcement. Compliance with this Environmental Covenant may be
enforced pursuant to the Utah Code § 57-25-111. Failure to timely enforce this Environmental
Covenant or the activity and use limitations contained herein by any party shall not bar subsequent
enforcement by such party and shall not be deemed a waiver of a party’s right to take action to
enforce this Environmental Covenant. Nothing in this Environmental Covenant shall restrict the
Agency from exercising any authority under applicable law. If the Property is not used and
maintained in accordance with Paragraph 13 entitled “Activity and Use Limitations and
Maintenance Requirements,” such noncompliance shall constitute a change of use, possibly
subjecting the Property, Owner, and Transferee to additional remedies and/or actions.

17. Rights of Access. For itself and any Owner, the Grantor hereby permanently grants the
rights of ingress, egress, and access to the Property to the Agency, the Holder(s), Wasatch County
Health Department, and the Military Installation Development Authority, and their respe ctive
authorized officers, employees, representatives and contractors for any necessary inspections,
response actions, and implementation or enforcement of this Environmental Covenant. Nothing
in this Environmental Covenant shall be interpreted as limiting any access and inspection
authorities of the Agency or the Agency’s authorized officers, employees and representatives
under applicable law.

18. Compliance Reporting. Upon request from the Agency, Owner shall submit to the Agency
written documentation verifying compliance with the Activity and Use Limitations. If Owner is

Mayflower Environmental Covenant – Repository Covenant #2
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not in compliance with the Activity and Use Limitations, the Owner shall submit written
documentation to the Agency explaining which Activity and Use Limitations are not being
complied with, the actions Owner will take to remedy noncompliance, and a proposed schedule
for completing such actions.

19. Notice upon Conveyance. Owner shall notify the Agency and Holder(s) within twenty
(20) days after each transfer of ownership of all or any portion of the Property. Owner’s notice
to the Agency and Holder(s) shall include the name, address and telephone number of the
Transferee, a copy of the deed or other documentation evidencing the conveyance, and an
unsurveyed plat that shows the boundaries of the Property being transferred. Instruments that
convey any interest in the Property (fee, leasehold, easement, encumbrance, etc.) shall include a
notification to the person or entity who acquires the interest that the Property is subject to this
Environmental Covenant and shall identify the date, entry no., book and page number at which
this Environmental Covenant is recorded in the records of the Wasatch County Recorder, in the
State of Utah. Failure to provide notification shall have no effect upon the enforceability and duty
to comply with this Environmental Covenant.

20. Representations and Warranties. Grantor hereby represents and warrants to the other
signatories hereto:

A. That Grantor is the sole owner of the Property;

B. That Grantor holds fee simple title to the Property which is subject to the interests or
encumbrances identified in Schedule B of the Title Commitment attached hereto as
Exhibit C and incorporated by reference herein;

C. That Grantor has the power and authority to enter into this Environmental Covenant,
to grant the rights and interests herein provided and to carry out all obligations
hereunder;

D. That Grantor has identified all other persons that own an interest in or hold an
encumbrance on the Property, has notified such persons of Grantor’s intention to
enter into this Environmental Covenant; and

E. That this Environmental Covenant will not materially violate or contravene or
constitute a material default under any other agreement, document, or instrument to
which it is a party or by which Grantor may be bound or affected.

21. Amendment or Termination. This Environmental Covenant may be amended or
terminated pursuant to the Act. Except as set forth herein, Grantor and Holder waive any and all
rights to consent or notice of amendment or termination concerning any parcel of the Property to
which Grantor or Holder has no fee simple interest at the time of amendment or termination of

Mayflower Environmental Covenant – Repository Covenant #2
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this Environmental Covenant. Nothing in this Environmental Covenant shall be interpreted to
mean that the Agency waives the right to consent to or notice of amendment or termination of this
Environmental Covenant.

22. Effective Date, Severability and Governing Law. The effective date of this Environmental
Covenant shall be the date upon which the fully executed Environmental Covenant has been
recorded as a document of record for the Property with the Wasatch County Recorder. If any
provision of this Environmental Covenant is found to be unenforceable in any respect, the
validity, legality, and enforceability of the remaining provisions shall not in any way be affected
or impaired. This Environmental Covenant shall be governed by and interpreted in accordance
with the laws of the State of Utah.

23. Recordation and Distribution of Environmental Covenant. Within thirty (30) days after
the date of the final required signature upon this Environmental Covenant, Grantor shall file this
environmental covenant for recording in the same manner as a deed to the Property with the
Wasatch County Recorder’s Office. Grantor shall distribute a file-and-date stamped copy of the
recorded Environmental Covenant to the Agency, Holder(s), the Military Installation
Development Authority, and the Wasatch County Health Department.

24. Notice. Unless otherwise notified in writing, any document or communication required
by this Environmental Covenant shall be submitted to:

If to Agency:

Project Manager (Mayflower VCP site #C090)
Department of Environmental Quality
Division of Environmental Response and Remediation
195 North 1950 West
P.O. Box 144840
Salt Lake City, Utah 84114-4840

If to BLX Lot 22 LLC:

BLX Lot 22 LLC
PO Box 980728
Park City, Utah 84098

If to the Master HOA:

Mountainside Master Association, Inc.
PO Box 980728
Park City, Utah 84098

Mayflower Environmental Covenant – Repository Covenant #2
Page 8 of 35

25. Governmental Immunity. In executing this Environmental Covenant, the Agency does not
waive governmental immunity afforded by law. The Grantor, Owner, and Holder(s), for
themselves and their successors, assigns, and Transferees, hereby fully and irrevocably release and
covenant not to sue the State of Utah, its agencies, successors, departments, agents, and employees
(collectively, the “State”) from any and all claims, damages, or causes of action arising from, or
on account of, the activities carried out pursuant to this Environmental Covenant except for an
action to amend or terminate the Environmental Covenant pursuant to Utah Code §§ 57-25-109
and -110 or for a claim against the State arising directly or indirectly from or out of actions of
employees of the State that would result in (i) liability to the State of Utah under Utah Code §
63G-7-301 of the Governmental Immunity Act of Utah, Utah Code § 63G-7-101 et seq. or (ii)
individual liability for actions not covered by the Governmental Immunity Act as indicated in Utah
Code §§ 63G-7-202 and -902 as determined in a court of law.

26. Payment of Agency’s Costs. Owner shall reimburse Agency for technical reviews,
inspections and other actions contemplated in this Environmental Covenant, performed by Agency
pursuant to the enforcement or protection of this Environmental Covenant. Costs may be invoiced
based on actual costs incurred by Agency or on the fee schedule approved by the Utah Legislature,
or both, as applicable.

The undersigned representatives of Owner, Grantor and Holders and the undersigned
representative of UDEQ represent and certiff that they are authorized to agree to the conditions
and obligations contained herein and to execute this Environmental Covenant.
IT IS SO AGREED:
BLX Lot 22LLC,
A Utah limited liability company,
As Grantor, Owner and Holder
/o-/(-?
Date
State of LLfal,-
-
county d Wfl-<rtCh-
a notary public, in and for said county and state, personally appeared
a duly authorized representative of BLX Lot22 LLC, Grantor, Owner and
to me that fte/shel did execute the foregoing instrument on behalf
of BLX Lot22 LLC, for the purposes stated therein.
J
)
: ss.
)
,- IN TESTIMONY WHEREOF, I have subscribed my name and affixed my official seal this
1-tauv or 0 ttTbA,n ,2026
Mayflower Environmental Covenant - Repository Covenant #2
Page 9 of35
Before me,
Holderherein, who
Notary Public
Mountainside Master Association, Inc.
A Utah Association
As Holder
/a .-
Date / /
stateof ltJA t
county ot l/U a-\a,t)l.-
. Before me, a notary public, in and for said county and state, personally appeared
Gllo, ( to tWt tt ,adulyauthorizedrepresentativeofMountainsideMasterAssociation,Itrc.,
as Holder, who acknowledged to me that [he/she] didexecute the foregoing insfument on behalf of
BLX Lot 22LLC, for the purposes stated therein.
)
: ss.
)
/,.il,:?Whave
subscribed my name and affixed my official seal this
Mayflower Environmental Covenant - Repository Covenant#2
Page l0 of35
:3fi't:q#i;",. #;Jheff.*";
UTAH DEPARTMENT OF ENVIRONMENTAL QUALITY
The Utah Department of Environmental Quality atthoized representative identified below hereby
approves the foregoing environmental covenant pursuant to Utah Code $$ 57-25-102(2) and 57-25-
10a(1Xe).
tl "' azs
Date
Division of Environmental Response and Remediation
Utah Departrnent of Environmental Quality
State of Utah
County of Salt Lake
On this Y O.rof NhVzr^nhef ,2[zs,appeared before me Brent H. Everett, an authorized
representative of the Utah Departnent of Environmental Quality, personally known to me, or whose
identity has been satisfactorily established to me, who acknowledged to me that he executed the
foregoing environmental covenant.
Notary Public
Mayflower Environmental Covenant - Repository Covenant #2
Page l1 of35
)
: ss.
)
ffim":'?B,il,:l"^l*r9ffifr;nii:,-r-o:r
EXHIBIT A
Mayflower Environmental Covenant – Repository Covenant #2
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LEGAL DESCRIPTION
COVENANT 2
SEPTEMBER 12, 2025

Lot 31 of the MIDA MASTER DEVELOPMENT PLAT AMENDED 2023 AMENDING LOT 8
& PARCEL 5 OF THE MIDA MASTER DEVELOPMENT PLAT AND LOT 22 & LOT 23 OF
THE MIDA MASTER DEVELOPMENT PLAT LOTS 1 & 15B AND PARCELS 1 & 2
AMENDED AND OTHER LANDS subdivision, according to the official plat thereof, recorded
April 18, 2023, as Entry No. 531618 in Book 1439 at Page 1055 of the official records in the
office of the Wasatch County Recorder and more particularly described as follows:

BEGINNING AT A POINT that is North 26°11'47” West a distance of 3201.72 feet and South
63°48'13” West a distance of 69.16 feet from the southeast corner of said Section 25, said point
also being on a curve to the left, of which the radius point lies North 86°50'14" East, a radial
distance of 269.57 feet, and said point being on the westerly right-of-way of Mayflower Village
Drive (Basis of Bearing for the herein described covenant being North 26°11'47" West 5917.16
feet from the Southeast Corner of said Section 25 to the North Quarter Corner of Section 25, See
Record of Survey Maps 2647 & 3058 on file with the Wasatch County Surveyor's office for said
Section 25 retracement and the Mayflower LDP coordinate system projection parameters); and
running thence coincident with said westerly right-of-way the following three (3) courses; 1)
Southerly along the arc of said curve, through a central angle of 25°53'22", a distance of 121.81
feet; thence 2) South 29°03'08" East, a distance of 166.64 feet to a point on a 269.57 feet radius
curve to the left; thence 3) Southeasterly along the arc of said curve a distance of 46.23 feet
(chord bears South 33°57'52" East a distance of 46.17 feet) to the common boundary corner of
said Lot 31 and Lot 30 of the DVEV PLAT C subdivision recorded June 20, 2025 as Entry No.
561242 on file and of record in the office of the Wasatch County Recorder; thence coincident
with the common boundary of Lot 30 and Lot 31 the following ten (10) courses: 1) South
60°56'52" West, a distance of 31.78 feet; thence 2) North 29°03'08" West, a distance of 217.00
feet; thence 3) South 60°56'52" West, a distance of 10.24 feet to a point on a 10.00 feet radius
curve to the right; thence 4) Westerly along the arc of said curve a distance of 12.09 feet (chord
bears North 84°25'24" West a distance of 11.37 feet) to a point of reverse curve to the left having
a radius of 14.00 feet and a central angle of 69°15'27"; thence 5) Westerly along the arc of said
curve, a distance of 16.92 feet; thence 6) South 60°56'52" West, a distance of 27.32 feet; thence
7) North 29°03'08" West, a distance of 126.80 feet to a point on a 10.00 feet radius curve to the
right; thence 8) Northerly along the arc of said curve a distance of 15.87 feet (chord bears North
16°24'22" East a distance of 14.25 feet) to a point of compound curve to the right having a radius
of 150.00 feet and a central angle of 29°32'53"; thence 9) Easterly along the arc, a distance of
77.36 feet; thence 10) South 88°35'14" East, a distance of 36.04 feet to the POINT OF
BEGINNING.

Covenant 2 contains 19,500 square feet or 0.448 acres, more or less.

Mayflower Environmental Covenant – Repository Covenant #2
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EXHIBIT B
Mayflower Environmental Covenant – Repository Covenant #2
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Mayflower
Enviro
nmenta
l
Covena
nt –
Reposit
ory
Covena
nt #2
Page 17
of 37

Mayflower Environmental Covenant – Repository Covenant #2
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EXHIBIT C
Mayflower Environmental Covenant – Repository Covenant #2
Page 16 of 35
This page is only a part of a 2021 ALTA® Commitment for Title Insurance issued by Fidelity National 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; Schedule B, Part II-Exceptions; and a
counter-signature by the Company or its issuing agent that may be in electronic form.
Copyright 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.
ALTA Commitment for Title Insurance (07/01/2021)Printed: 07.11.25 @ 07:33 PM
UT-FT-FCTV-03000.990220-SPS-1-25-NCSUT00811
ALTA COMMITMENT FOR TITLE INSURANCE
Commitment Number:
issued by:
NCSUT00811
NOTICE
IMPORTANT - READ CAREFULLY: THIS COMMITMENT IS AN OFFER TO ISSUE ONE OR MORE TITLE
INSURANCE POLICIES. ALL CLAIMS OR REMEDIES SOUGHT AGAINST THE COMPANY INVOLVING THE
CONTENT OF THIS COMMITMENT OR THE POLICY MUST BE BASED SOLELY IN CONTRACT.
THIS COMMITMENT IS NOT AN ABSTRACT OF TITLE, REPORT OF THE CONDITION OF TITLE, LEGAL OPINION,
OPINION OF TITLE, OR OTHER REPRESENTATION OF THE STATUS OF TITLE. THE PROCEDURES USED BY
THE COMPANY TO DETERMINE INSURABILITY OF THE TITLE, INCLUDING ANY SEARCH AND EXAMINATION,
ARE PROPRIETARY TO THE COMPANY, WERE PERFORMED SOLELY FOR THE BENEFIT OF THE COMPANY,
AND CREATE NO EXTRACONTRACTUAL LIABILITY TO ANY PERSON, INCLUDING A PROPOSED INSURED.
THE COMPANY'S OBLIGATION UNDER THIS COMMITMENT IS TO ISSUE A POLICY TO A PROPOSED INSURED
IDENTIFIED IN SCHEDULE A IN ACCORDANCE WITH THE TERMS AND PROVISIONS OF THIS COMMITMENT.
THE COMPANY HAS NO LIABILITY OR OBLIGATION INVOLVING THE CONTENT OF THIS COMMITMENT TO ANY
OTHER PERSON.
COMMITMENT TO ISSUE POLICY
Subject to the Notice; Schedule B, Part I-Requirements; Schedule B, Part II-Exceptions; and the Commitment Conditions,
Fidelity National Title Insurance Company, a Florida corporation (the "Company"), commits to issue the Policy according to
the terms and provisions of this Commitment. This Commitment is effective as of the Commitment Date shown in
Schedule A for each Policy described in Schedule A, only when the Company has entered in Schedule A both the
specified dollar amount as the Proposed Amount of Insurance and the name of the Proposed Insured.
If all of the Schedule B, Part I-Requirements have not been met within one hundred eighty (180) days after the
Commitment Date, this Commitment terminates and the Company's liability and obligation end.
Fidelity National Title Insurance Company
By:
Countersigned By:
Karl Minnick
Authorized Officer or Agent
Michael J. Nolan, President
Attest:
Marjorie Nemzura, Secretary
Page 1
Mayflower Environmental Covenant – Repository Covenant #2
Page 17 of 35
This page is only a part of a 2021 ALTA® Commitment for Title Insurance issued by Fidelity National 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; Schedule B, Part II-Exceptions; and a
counter-signature by the Company or its issuing agent that may be in electronic form.
Copyright 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.
ALTA Commitment for Title Insurance (07/01/2021)Printed: 07.11.25 @ 07:33 PM
UT-FT-FCTV-03000.990220-SPS-1-25-NCSUT00811
FIDELITY NATIONAL TITLE INSURANCE COMPANY COMMITMENT NO. NCSUT00811
Transaction Identification Data, for which the Company assumes no liability as set forth in Commitment
Condition 5.e.:
ISSUING OFFICE:FOR SETTLEMENT INQUIRIES, CONTACT:
Fidelity National Title Insurance Company
170 S Main St, Suite 1075
Salt Lake City, UT 84101
Main Phone: [phone]
Escrow Officer: Hillary Morgan
Fidelity National Title Insurance Co.
170 S Main St, Suite 1075
Salt Lake City, UT 84101
Phone: [phone] Fax: [phone]
Main Phone: [phone]
Email: [e-mail]
Order Number:NCSUT00811
Property Address:APN/Parcel ID(s) 00-0021-8444, 00-0021-8445, 00-0021-8446, 00-0021-8447, 00-0021-8448,
00-0021-8449 and 00-0021-4910
SCHEDULE A
1.Commitment Date: June 23, 2025 at 08:00 AM
2.Policy to be issued:
(a)ALTA Owner's Policy 2021
Proposed Insured:
Proposed Amount of Insurance: $0.00 Premium:$0.00
The estate or interest to be insured:Fee Simple
(b)Endorsements:
(c)ALTA Loan Policy 2021
Proposed Insured:
Proposed Amount of Insurance: $0.00 Premium:$0.00
The estate or interest to be insured:Fee Simple
(d)Endorsements:
3.The estate or interest in the Land at the Commitment Date is:
Fee Simple
4.The Title is, at the Commitment Date, vested in:
BLX Lot 23 LLC, a Delaware limited liability company; BLX Lot 22 LLC, a Delaware limited liability company; BLX
Lease 2 LLC, a Delaware limited liability company: MIDA Mountain Village Public Infrastructure District, as their
interests may apply
Page 2
Mayflower Environmental Covenant – Repository Covenant #2
Page 18 of 35
FIDELITY NATIONAL TITLE INSURANCE COMPANY COMMITMENT NO. NCSUT00811
SCHEDULE A
(continued)
This page is only a part of a 2021 ALTA® Commitment for Title Insurance issued by Fidelity National 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; Schedule B, Part II-Exceptions; and a
counter-signature by the Company or its issuing agent that may be in electronic form.
Copyright 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.
ALTA Commitment for Title Insurance (07/01/2021)Printed: 07.11.25 @ 07:33 PM
UT-FT-FCTV-03000.990220-SPS-1-25-NCSUT00811
5.The land referred to in this Commitment is described as follows and is situate in Wasatch County, State of Utah, to-wit:
Proposed Waste Rock Boundary
A parcel of land located in the east half of Section 25, Township 2 South, Range 4 East, Salt Lake Base and
Meridian, Wasatch County, Utah, said parcel also being located in Lot 23A, Lot 28, Lot 29, Lot 30, Lot 31, Lot 32 &
Lot 33 of the MIDA MASTER DEVELOPMENT PLAT AMENDED 2023 Subdivision recorded April 18, 2023 as
Entry No. 531618 on file in the Wasatch County Recorder's Office and said parcel also located in the Mayflower
Village Drive right-of-way of the MAYFLOWER VILLAGE ROADS PHASE I Subdivision recorded August 28, 2020
as Entry No. 478579 on file in the Wasatch County Recorder's Office, and said parcel being more particularly
described as follows:
BEGINNING AT A POINT that is North 63°48'13" East 257.98 feet and North 26°11'47" West 3127.82 feet from
the southeast corner of Section 25, Township 2 South, Range 4 East, Salt Lake Base and Meridian (Basis of
Bearing for the herein described parcel being South 26°11'47" East 5917.16 feet from the North Quarter Corner of
Section 25, to the Southeast Corner of Section 25, the North Quarter Corner also being North 89°57'12" West
2633.77 feet from the Northeast Corner of said Section 25, See Record of Survey Maps 2647, 3058 & 3759 on file
with the Wasatch County Surveyor's office for said Section 25 retracement and the Mayflower LDP coordinate
system projection parameters); thence South 28°54'31" East 138.61 feet; thence South 47°17'15" East 127.25 feet
to a point on a non tangent curve to the left having a radius of 226.69 feet, of which the radius point bears North
42°47'24" East; thence along the arc of said curve 99.58 feet through a central angle of 25°10'07"; thence South
78°36'07" East 101.96 feet; thence South 00°50'51" East 110.42 feet; thence South 27°17'10" West 82.36 feet;
thence South 74°25'07" West 121.68 feet; thence South 84°30'29" West 165.46 feet; thence North 81°44'59"
West 269.01 feet; thence South 86°44'37" West 81.65 feet; thence South 74°42'53" West 336.47 feet; thence
North 82°46'47" West 82.74 feet; thence North 33°34'44" West 49.47 feet; thence North 03°53'16" East 11.44 feet;
thence North 03°52'07" East 158.31 feet; thence North 15°54'22" East 46.57 feet to a point on a non tangent curve
to the left having a radius of 177.24 feet, of which the radius point bears North 41°25'53" West; thence along the
arc of said curve 82.98 feet through a central angle of 26°49'29"; thence North 43°30'07" East 17.81 feet; thence
North 51°11'45" East 45.61 feet; thence North 60°54'20" East 256.77 feet; thence North 62°46'06" East 96.23 feet;
thence North 65°19'39" East 179.58 feet; thence South 81°05'19" East 59.59 feet; thence South 49°36'01" East
69.05 feet; thence East 50.00 feet to the POINT OF BEGINNING.
LESS AND EXCEPTING THEREFROM any portion of the above described parcel in LOT 33 of the DVEV PLAT C
subdivision plat recorded June 30, 2025 as Entry No. 561242 on file and of record in the office of the Wasatch
County Recorder.
PREMIUMS:
ALTA Loan Policy 2021 Premium $0
ALTA Owner's Policy 2021 Premium $0
END OF SCHEDULE A
Page 3 Mayflower Environmental Covenant – Repository Covenant #2
Page 19 of 35
This page is only a part of a 2021 ALTA® Commitment for Title Insurance issued by Fidelity National 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; Schedule B, Part II-Exceptions; and a
counter-signature by the Company or its issuing agent that may be in electronic form.
Copyright 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.
ALTA Commitment for Title Insurance (07/01/2021)Printed: 07.11.25 @ 07:33 PM
UT-FT-FCTV-03000.990220-SPS-1-25-NCSUT00811
FIDELITY NATIONAL TITLE INSURANCE COMPANY COMMITMENT NO. NCSUT00811
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.Pay the full consideration to, or for the account of, the grantors or mortgagors.
6.Pay all taxes, charges, assessments, levied and assessed against subject premises, which are due and payable.
7.Satisfactory evidence should be had that improvements and/or repairs or alterations thereto are completed, that
contractor, sub-contractors, labor and materialmen are all paid, and have released of record all liens or notice of
intent to perfect a lien for labor or material.
8.Pay the premiums, fees, and charges for the Policy to the Company.
9.Provide the Company, in writing, with instructions as to the full nature of the transaction, including but not limited
to: Names of any party not referred to in this form who will receive an interest in the land, or who will be names as
a proposed insured (Owner and/or Lender) and amounts (Owners and/or Lenders) of policies to be issued.
Additional requirements or exceptions may then be made.
10.Obtain a copy of the Articles and/or Certificates of Organization, Incorporation, Bylaws, Operating Agreement or
Partnership Agreement (whichever may apply) for: BLX LEASE 2 LLC, BLX LOT 22, BLX LOT 23 and MIDA
Mountain Village Public Infrastructure District
END OF SCHEDULE B, PART I
Page 4
Mayflower Environmental Covenant – Repository Covenant #2
Page 20 of 35
This page is only a part of a 2021 ALTA® Commitment for Title Insurance issued by Fidelity National 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; Schedule B, Part II-Exceptions; and a
counter-signature by the Company or its issuing agent that may be in electronic form.
Copyright 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.
ALTA Commitment for Title Insurance (07/01/2021)Printed: 07.11.25 @ 07:33 PM
UT-FT-FCTV-03000.990220-SPS-1-25-NCSUT00811
FIDELITY NATIONAL TITLE INSURANCE COMPANY COMMITMENT NO. NCSUT00811
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.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, interests, or claims that are not shown by the Public Records at Date of Policy but that could be
(a) ascertained by an inspection of the Land, or (b) asserted by persons or parties in possession of the Land.
3.Easements, liens or encumbrances, or claims thereof, not shown by the Public Records at Date of Policy.
4.Any encroachment, encumbrance, violation, variation or adverse circumstance affecting the Title that would be
disclosed by an accurate and complete land survey of the Land and not shown by the Public Records at Date of
Policy.
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 or material heretofore or hereafter furnished, imposed by law and not
shown by the Public Records.
7.Defects, liens, encumbrances, adverse claims or other matters, if any, created, first appearing in the Public
Records or attaching subsequent to the Effective Date but prior to the date the Proposed Insured acquires for
value of record the estate or interest or mortgage thereon covered by this Commitment.
Page 5
Mayflower Environmental Covenant – Repository Covenant #2
Page 21 of 35
FIDELITY NATIONAL TITLE INSURANCE COMPANY COMMITMENT NO. NCSUT00811
SCHEDULE B, PART II - Exceptions
(continued)
This page is only a part of a 2021 ALTA® Commitment for Title Insurance issued by Fidelity National 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; Schedule B, Part II-Exceptions; and a
counter-signature by the Company or its issuing agent that may be in electronic form.
Copyright 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.
ALTA Commitment for Title Insurance (07/01/2021)Printed: 07.11.25 @ 07:33 PM
UT-FT-FCTV-03000.990220-SPS-1-25-NCSUT00811
8.2025 General Property Taxes are accruing as a lien and are not yet due and payable under Tax ID No.
00-0021-8444, 00-0021-8445, 00-0021-8447, 00-0021-8449, and 00-0021-4910
2024 General Property Taxes have been PAID in the amount of $17,642.10. Tax ID No.: 00-0021-8444
2024 General Property Taxes have been PAID in the amount of $53.12. Tax ID No.: 00-0021-8445
2024 General Property Taxes in the amount of $7,461.28 plus penalties and interest are DELINQUENT. Tax ID
No.: 00-0021-8446
2024 General Property Taxes in the amount of $11,230.24 plus penalties and interest are DELINQUENT. Tax ID
No.: 00-0021-8447
2024 General Property Taxes have been PAID in the amount of $259.51. Tax ID No.: 00-0021-8448
2024 General Property Taxes in the amount of $22,490.83 plus penalties and interest are DELINQUENT. Tax ID
No.: 00-0021-8449
General property taxes were not assessed against the land. Subject to an escaped property assessment, (the
County Assessor upon discovering an error in not assessing the land may then go back and assess, tax and lien
the land). The lien of taxes for under assessed, undervalued or escaped property pursuant to Chapter 2 of Title 59
Utah Code Annotated 1953. Tax ID No.: 00-0021-4910
9.The Land lies within the boundaries of MIDA, Wasatch County, and is subject to any and all charges and
assessments thereof. (Tax District: 029)
- Wasatch County Recreation District
- Jordanelle Special Service District Special Improvement District No, 1995-1
- Wasatch County Fire Protection Special Service District
- Jordanelle Special Service District Improvement District No. 1997-1
- MIDA Mountain Village Public Infrastructure District
10.Water rights, claims or title to water, whether or not disclosed by the Public Records.
11.Any claim to (a) ownership of or rights to minerals and similar substances, including but not limited to ores, metals,
coal, lignite, oil, gas, uranium, clay, rock, sand, and gravel located in, on, or under the Land or produced from the
Land, whether such ownership or rights arise by lease, grant, exception, conveyance, reservation, or otherwise;
and (b) any rights, privileges, immunities, rights of way, and easements associated therewith or appurtenant
thereto, whether or not the interests or rights excepted in (a) or (b) appear in the Public Records or are shown in
Schedule B.
12.Reservations contained in that certain Patent in favor of The United States of America recorded April 14, 1888, in
Book J at Page 591, of the Official Records.
13.Reservations contained in that certain Patent in favor of The United States of America recorded November 28,
1933 as Entry No. 50333 in Book 5 of Patents at Page 179, of the Official Records.
Page 6
Mayflower Environmental Covenant – Repository Covenant #2
Page 22 of 35
FIDELITY NATIONAL TITLE INSURANCE COMPANY COMMITMENT NO. NCSUT00811
SCHEDULE B, PART II - Exceptions
(continued)
This page is only a part of a 2021 ALTA® Commitment for Title Insurance issued by Fidelity National 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; Schedule B, Part II-Exceptions; and a
counter-signature by the Company or its issuing agent that may be in electronic form.
Copyright 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.
ALTA Commitment for Title Insurance (07/01/2021)Printed: 07.11.25 @ 07:33 PM
UT-FT-FCTV-03000.990220-SPS-1-25-NCSUT00811
14.Reservations contained in that certain Deed recorded November 16, 1972, as Entry No. 98636 in Book 86 at Page
130, of the Official Records.
15.The terms, conditions, restrictions, reservations and limitations of that certain Easement Agreement:
Recorded: October 10, 1997
Entry No.: 197698
Book: 361
Page: 230, of the Official Records.
16.The terms, conditions, restrictions, reservations and limitations of that certain Access Easement:
Recorded: November 2, 2017
Entry No.: 444718
Book: 1206
Page: 153, of the Official Records.
17.The terms, conditions, restrictions, reservations and limitations of that certain Assignment of Permits:
Recorded: November 2, 2017
Entry No.: 444719
Book:1206
Page: 160, of the Official Records.
18.The terms, conditions, restrictions, reservations and limitations of that certain Allocation Agreement (Mayflower
Mountainside):
Recorded: November 2, 2017
Entry No.: 444737
Book: 1206
Page: 825, of the Official Records.
19.The terms, conditions, restrictions, reservations and limitations of that certain Notice of Water and Sewer
Development and Service Agreement:
Recorded: February 13, 2020
Entry No.: 474451
Book: 1282
Page: 262, of the Official Records.
20.The terms, conditions, restrictions, reservations and limitations of that certain Declaration of Easements:
Recorded: May 27, 2020
Entry No.: 478559
Book: 1294
Page: 1240, of the Official Records.
21.All Non-Exclusive and Exclusive Easements and Rights-of-Way which affect the Common Area (if any), as well as
all Easements, Restrictions, Notes, Setbacks, and Conditions as shown on the Recorded Plat of Mayflower Village
Roads Phase 1 recorded May 28, 2020, as Entry No. 478579 in Book 1294 at Page 1379, of the Official Records.
Page 7
Mayflower Environmental Covenant – Repository Covenant #2
Page 23 of 35
FIDELITY NATIONAL TITLE INSURANCE COMPANY COMMITMENT NO. NCSUT00811
SCHEDULE B, PART II - Exceptions
(continued)
This page is only a part of a 2021 ALTA® Commitment for Title Insurance issued by Fidelity National 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; Schedule B, Part II-Exceptions; and a
counter-signature by the Company or its issuing agent that may be in electronic form.
Copyright 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.
ALTA Commitment for Title Insurance (07/01/2021)Printed: 07.11.25 @ 07:33 PM
UT-FT-FCTV-03000.990220-SPS-1-25-NCSUT00811
22.All Non-Exclusive and Exclusive Easements and Rights-of-Way which affect the Common Area (if any), as well as
all Easements, Restrictions, Notes, Setbacks, and Conditions as shown on the Recorded Plat of MIDA Master
Development Plat recorded June 30, 2020, as Entry No. 480155 in Book 1299 at Page 1122, of the Official
Records.
23.Development Agreement by and between EX Utah Development LLC, BLX LLC, BLX Pioche LLC, BLX Land LLC,
BLX MWR Hotel LLC, RH Mayflower LLC and Military Installation Development Authority and the terms,
conditions, restrictions and limitations contained therein:
Recorded: August 20, 2020
Entry No: 483120
Book: 1307
Page: 1743, of the Official Records.
Affidavit Correcting Clerical Error recorded September 4, 2020 as Entry No. 484144 in Book 1310 at Page 1893,
of the Official Records.
First Amendment to Mountainside Resort Master Development Agreement and the terms, conditions, restrictions
and limitations contained therein:
Recorded: February 22, 2022
Entry No: 515492
Book: 1398
Page: 399, of the Official Records.
First Amendment to Mountainside Resort Master Development Agreement and the terms, conditions, restrictions
and limitations contained therein:
Recorded: February 22, 2022
Entry No: 515493
Book: 1398
Page:493, of the Official Records.
24.Covenants, Conditions and/or Restrictions, Easements, Assessments, Liens, Charges, Terms and Provisions
contained within that certain Master Declaration of Covenants, Conditions, Restrictions and Easement for
Mountainside Village and Resort and any amendments thereto.
Said Declaration and/or Covenants, Conditions and/or Restrictions may provide for, among other things the
formation of an Association, which has the power to assess charges for maintenance, and/or transfer fees.
Recorded: August 21, 2020
Entry No: 483149
Book: 1308
Page:27, of the Official Records.
First Amendment to Master Declaration of Covenants, Conditions, Restrictions and Easement for Mountainside
Village and Resort recorded December 21, 2021 as Entry No. 512624, in Book 1390 at Page 1310, of the Official
Records.
Page 8
Mayflower Environmental Covenant – Repository Covenant #2
Page 24 of 35
FIDELITY NATIONAL TITLE INSURANCE COMPANY COMMITMENT NO. NCSUT00811
SCHEDULE B, PART II - Exceptions
(continued)
This page is only a part of a 2021 ALTA® Commitment for Title Insurance issued by Fidelity National 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; Schedule B, Part II-Exceptions; and a
counter-signature by the Company or its issuing agent that may be in electronic form.
Copyright 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.
ALTA Commitment for Title Insurance (07/01/2021)Printed: 07.11.25 @ 07:33 PM
UT-FT-FCTV-03000.990220-SPS-1-25-NCSUT00811
Declaration of Annexation (Master Declaration) recorded February 18, 2022 as Entry No. 515468 in Book 1398 at
Page 236, of the Official Records.
Second Amendment to Master Declaration of Covenants, Conditions, Restrictions and Easement for Mountainside
Village and Resort recorded March 3, 2022 as Entry No. 516017, in Book 1399 at Page 1777, of the Official
Records.
Affidavit recorded March 15, 2022 as Entry No. 516581 in Book 1401 at Page 929, of the Official Records.
Affidavit recorded March 21, 2023 as Entry No. 530724 in Book 1437 at Page 741, of Official Records.
Declaration of Withdrawal (Village Declaration - Mountainside Village) (Lot 29) recorded August 21, 2023, as Entry
No. 535763 in Book 1450 at Page 1792, of the Official Records.
Third Amendment to Master Declaration of Covenants, Conditions, Restrictions and Easement for Mountainside
Village and Resort recorded September 7, 2023, as Entry No. 536399 in Book 1452 at Page 1461, of the Official
Records.
25.Notice of Reinvestment Fee Covenant, and the terms, conditions, and limitations contained therein:
Recorded: August 21, 2020
Entry No: 483150
Book: 1308
Page: 143, of the Official Records.
26.Covenants, Conditions and/or Restrictions, Easements, Assessments, Liens, Charges, Terms and Provisions
contained within that certain Declaration of Covenants, Conditions, Restrictions and Easement for Village at
Mountainside and any amendments thereto.
Said Declaration and/or Covenants, Conditions and/or Restrictions may provide for, among other things the
formation of an Association, which has the power to assess charges for maintenance, and/or transfer fees.
Recorded: August 21, 2020
Entry No: 483151
Book: 1308
Page: 148, of the Official Records.
Declaration of Withdrawal (Village Declaration - Mountainside Village) (Lot 29) recorded August 21, 2023, as Entry
No. 535762 in Book 1450 at Page 1787, of the Official Records.
27.Notice of Pre-Co Fee, and the terms, conditions, and limitations contained therein:
Recorded: August 21, 2020
Entry No: 483156
Book: 1308
Page: 366, of the Official Records.
Page 9
Mayflower Environmental Covenant – Repository Covenant #2
Page 25 of 35
FIDELITY NATIONAL TITLE INSURANCE COMPANY COMMITMENT NO. NCSUT00811
SCHEDULE B, PART II - Exceptions
(continued)
This page is only a part of a 2021 ALTA® Commitment for Title Insurance issued by Fidelity National 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; Schedule B, Part II-Exceptions; and a
counter-signature by the Company or its issuing agent that may be in electronic form.
Copyright 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.
ALTA Commitment for Title Insurance (07/01/2021)Printed: 07.11.25 @ 07:33 PM
UT-FT-FCTV-03000.990220-SPS-1-25-NCSUT00811
28.MIDA Mountain Village Public Infrastructure District, Utah Mountain Village Assessment Area #2 Designation
Resolution recorded March 3, 2021 as Entry No. 495109 in Book 1341 at Page 895, of the Official Records.
Notice of Assessment Interest MIDA Mountain Village Public Infrastructure District, Utah Mountain Village
Assessment Area #2 recorded March 3, 2021 as Entry No. 495110 in Book 1341 at Page 925, of the Official
Records.
First Amendment to Assessment Ordinance MIDA Mountain Village Public Infrastructure District, Utah Mountain
Village Assessment Area #2 recorded March 23, 2021 as Entry No. 496331 in Book 1345 at Page 14, of the
Official Records.
Acknowledgement of Deed of Trust and Agreement to Provide Notice recorded February 14, 2023, as Entry No.
529584 in Book 1434 at Page 1106, of the Official Records.
Certificate of MIDA Mountain Village Public Infrastructure District, Utah Amending Assessment List recorded
March 5, 2024, as Entry No. 542586 in Book 1467 at Page 1866, of the Official Records.
29.The terms, conditions, restrictions, reservations and limitations of that certain Easement Agreement:
Recorded: November 30, 2021
Entry No.: 511414
Book: 1387
Page: 944, of the Official Records.
Partial Assignment of Easements for Ground Lease Term recorded August 24, 2023, as Entry No. 535956 in Book
21451 at Page 985, of the Official Records.
Amendment to Easement Agreement (Overlook Estates Lot 2) recorded November 16, 2023, as Entry No.
538861, in Book 1459 at Page 101, of the Official Records.
Amendment to Easement Agreement (Overlook Estates Lot 4) recorded November 16, 2023, as Entry No.
538862, in Book 1459 at Page 110, of the Official Records.
Amendment to Easement Agreement (Galena Two, Lot 46) recorded May 13, 2024, as Entry No. 545220, in Book
1475 at Page 117, of the Official Records.
Amendment to Easement Agreement (Galena Two, Lot 50) recorded May 13, 2024, as Entry No. 545221, in Book
1475 at Page 124, of the Official Records.
30.Easements, notes and restrictions as shown on the recorded plat of MIDA MASTER DEVELOPMENT PLAT
AMENDED 2023 Amending Lot 8 & Parcel 5 of the MIDA Master Development Plat and Lot 22 and 23 of the MIDA
Master Development Plat Lots 1 & 15 and Parcels 1 & 2 Amended and Other Lands, recorded April 18, 2023, as
Entry No. 531618 in Book 1439 at Page 1055, of the Official Records.
Page 10
Mayflower Environmental Covenant – Repository Covenant #2
Page 26 of 35
FIDELITY NATIONAL TITLE INSURANCE COMPANY COMMITMENT NO. NCSUT00811
SCHEDULE B, PART II - Exceptions
(continued)
This page is only a part of a 2021 ALTA® Commitment for Title Insurance issued by Fidelity National 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; Schedule B, Part II-Exceptions; and a
counter-signature by the Company or its issuing agent that may be in electronic form.
Copyright 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.
ALTA Commitment for Title Insurance (07/01/2021)Printed: 07.11.25 @ 07:33 PM
UT-FT-FCTV-03000.990220-SPS-1-25-NCSUT00811
31.The terms, conditions, restrictions, reservations and limitations of that certain Declaration of Access Easements:
Recorded: May 18, 2023
Entry No.: 532579
Book: 1442
Page: 106, of the Official Records.
32.The terms, conditions, restrictions, reservations and limitations of that certain Agreement for and Grant of
Subterranean Easement (Shuttle Tunnel-Mayflower Village Drive):
Recorded: May 18, 2023
Entry No.: 532580
Book: 1442
Page: 112, of the Official Records.
33.The terms, conditions, restrictions, reservations and limitations of that certain Agreement For and Grant of
Subterranean Easement (Pedestrian Tunnel - Ski Beach Way):
Recorded: May 18, 2023
Entry No.: 532581
Book: 1442
Page: 132, of the Official Records.
34.The terms, conditions, restrictions, reservations and limitations of that certain Easement Agreement (Lot 11
Recreation):
Recorded: June 14, 2023
Entry No.: 533493
Book: 1444
Page: 1060, of the Official Records.
The terms, conditions, restrictions, reservations and limitations of that certain First Amendment to Easement
Agreement (Lot 11 Recreation):
Recorded: August 15, 2023
Entry No.: 535573
Book: 1450
Page: 792, of the Official Records.
Page 11 Mayflower Environmental Covenant – Repository Covenant #2
Page 27 of 35
FIDELITY NATIONAL TITLE INSURANCE COMPANY COMMITMENT NO. NCSUT00811
SCHEDULE B, PART II - Exceptions
(continued)
This page is only a part of a 2021 ALTA® Commitment for Title Insurance issued by Fidelity National 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; Schedule B, Part II-Exceptions; and a
counter-signature by the Company or its issuing agent that may be in electronic form.
Copyright 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.
ALTA Commitment for Title Insurance (07/01/2021)Printed: 07.11.25 @ 07:33 PM
UT-FT-FCTV-03000.990220-SPS-1-25-NCSUT00811
35.The terms, conditions, restrictions, reservations and limitations of that certain Easement Agreement (WT2
Recreation):
Recorded: June 14, 2023
Entry No.: 533494
Book: 1444
Page: 1081, of the Official Records.
The terms, conditions, restrictions, reservations and limitations of that certain First Amendment to Easement
Agreement (WT2 Recreation):
Recorded: August 15, 2023
Entry No.: 535574
Book: 1450
Page: 796, of the Official Records.
36.The terms, conditions, restrictions, reservations and limitations of that certain Easement Agreement (Lot 30
Recreation):
Recorded: June 14, 2023
Entry No.: 533495
Book: 1444
Page: 1099, of the Official Records.
The terms, conditions, restrictions, reservations and limitations of that certain First Amendment to Easement
Agreement (Lot 30 Recreation):
Recorded: August 17, 2023
Entry No.: 535670
Book: 1450
Page: 1365, of the Official Records.
37.The terms, conditions, restrictions, reservations and limitations of that certain Declaration of Public Utility
Easement (Lot 28):
Recorded: June 20, 2023
Entry No.: 533645
Book: 1444
Page: 1860, of the Official Records
38.The terms, conditions, restrictions, reservations and limitations of that certain Declaration of Public Utility
Easement (Lot 29) recorded June 20, 2023, as Entry No. 533646 in Book 1444 at Page 1869, of the Official
Records.
39.The terms, conditions, restrictions, reservations and limitations of that certain Declaration of Public Utility
Easement (Lot 23A):
Recorded: June 20, 2023
Entry No.: 533647
Book: 1444
Page: 1877, of the Official Records
Page 12
Mayflower Environmental Covenant – Repository Covenant #2
Page 28 of 35
FIDELITY NATIONAL TITLE INSURANCE COMPANY COMMITMENT NO. NCSUT00811
SCHEDULE B, PART II - Exceptions
(continued)
This page is only a part of a 2021 ALTA® Commitment for Title Insurance issued by Fidelity National 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; Schedule B, Part II-Exceptions; and a
counter-signature by the Company or its issuing agent that may be in electronic form.
Copyright 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.
ALTA Commitment for Title Insurance (07/01/2021)Printed: 07.11.25 @ 07:33 PM
UT-FT-FCTV-03000.990220-SPS-1-25-NCSUT00811
40.The terms, conditions, restrictions, reservations and limitations of that certain Declaration of Access & Utility
Easement (Lot 32):
Recorded: June 22, 2023
Entry No.: 533766
Book: 1445
Page: 561, of the Official Records.
41.The terms, conditions, restrictions, reservations and limitations of that certain Cross Access Easement Agreement
(2, 28, 29, 30, 23A):
Recorded: June 22, 2023
Entry No.: 533767
Book: 1445
Page: 569, of the Official Records.
The terms, conditions, restrictions, reservations and limitations of that certain First Amendment to Cross Access
Easement Agreement (2, 28, 29, 30, 32, 23A):
Recorded: August 11, 2023
Entry No.: 535509
Book: 1450
Page: 518, of the Official Records.
42.The terms, conditions, restrictions, reservations and limitations of that certain Declaration of Access and
Temporary Parking Easement (Lot 30):
Recorded: June 22, 2023
Entry No.: 533768
Book: 1445
Page: 582, of the Official Records.
43.The terms, conditions, restrictions, reservations and limitations of that certain Fire and Emergency Vehicle Access
Easement:
Recorded: June 22, 2023
Entry No.: 533769
Book: 1445
Page: 591, of the Official Records.
Page 13
Mayflower Environmental Covenant – Repository Covenant #2
Page 29 of 35
FIDELITY NATIONAL TITLE INSURANCE COMPANY COMMITMENT NO. NCSUT00811
SCHEDULE B, PART II - Exceptions
(continued)
This page is only a part of a 2021 ALTA® Commitment for Title Insurance issued by Fidelity National 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; Schedule B, Part II-Exceptions; and a
counter-signature by the Company or its issuing agent that may be in electronic form.
Copyright 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.
ALTA Commitment for Title Insurance (07/01/2021)Printed: 07.11.25 @ 07:33 PM
UT-FT-FCTV-03000.990220-SPS-1-25-NCSUT00811
44.The terms, conditions, restrictions, reservations and limitations of that certain Easement Agreement (Lot 24 Rec):
Recorded: June 22, 2023
Entry No.: 533770
Book: 1445
Page: 596, of the Official Records.
The terms, conditions, restrictions, reservations and limitations of that certain First Amendment to Easement
Agreement (Lot 24 Rec):
Recorded: August 15, 2023
Entry No.: 535572
Book: 1450
Page: 788, of the Official Records.
45.The terms, conditions, restrictions, reservations and limitations of that certain Easement Agreement (Lot 1A
Recreation):
Recorded: August 7, 2023
Entry No.: 535309
Book: 1449
Page: 1618, of the Official Records.
46.The terms, conditions, restrictions, reservations and limitations of that certain Easement Agreement (Lot 25 & 27
Ski Beach Transition Area):
Recorded: August 24, 2023
Entry No.: 535944
Book: 1451
Page: 622, of the Official Records.
Amended and Restated Easement Agreement recorded January 2, 2025, as Entry No. 554490, in Book 1500 at
Page 1809, of the Official Records.
47.The terms, conditions, restrictions, reservations and limitations of that certain Pedestrian Walkway Easement and
Agreement to Construct (24, 25, 27, 5A):
Recorded: August 24, 2023
Entry No.: 535945
Book: 1451
Page: 645, of the Official Records
Amended and Restated Pedestrian Walkway Easement and Agreement to Construct recorded January 2, 2025,
as Entry No. 554489, in Book 1500 at Page 1794, of the Official Records.
48.The terms, conditions, restrictions, reservations and limitations of that certain Easement Agreement (Lot 14A/B
Recreation Easement) recorded August 24, 2023, as Entry No. 535946 in Book 1451 at Page 660, of the Official
Records.
Page 14 Mayflower Environmental Covenant – Repository Covenant #2
Page 30 of 35
FIDELITY NATIONAL TITLE INSURANCE COMPANY COMMITMENT NO. NCSUT00811
SCHEDULE B, PART II - Exceptions
(continued)
This page is only a part of a 2021 ALTA® Commitment for Title Insurance issued by Fidelity National 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; Schedule B, Part II-Exceptions; and a
counter-signature by the Company or its issuing agent that may be in electronic form.
Copyright 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.
ALTA Commitment for Title Insurance (07/01/2021)Printed: 07.11.25 @ 07:33 PM
UT-FT-FCTV-03000.990220-SPS-1-25-NCSUT00811
49.The terms, conditions, restrictions, reservations and limitations of that certain Declaration of Restrictive Covenant
Regarding Development and Operations Standard
Recorded: August 23, 2023
Entry No: 535950
Book: 1451
Page:789, of the Official Records.
50.The terms, conditions, restrictions, reservations and limitations of that certain Declaration of Restrictive Covenant
Regarding Exclusivity:
Recorded: August 24, 2023
Entry No.: 535952
Book: 1451
Page: 856, of the Official Records.
51.The terms, conditions, restrictions, reservations and limitations of that certain Declaration of Restrictive Covenant
Regarding Exclusivity:
Recorded: August 24, 2023
Entry No.: 535953
Book: 1451
Page: 883, of the Official Records.
52.The terms, conditions, restrictions, reservations and limitations of that certain Declaration of Restrictive Covenant
Regarding Exclusivity:
Recorded: August 24, 2023
Entry No.:535954
Book: 1451
Page: 909, of the Official Records.
53.The terms, conditions, restrictions, reservations and limitations of that certain Declaration of Restrictive Covenant
Regarding Exclusivity:
Recorded: August 24, 2023
Entry No.: 535955
Book: 1451
Page:952, of the Official Records.
54.An Unrecorded Lease executed by BLX LEASE 2 LLC, a Delaware limited liability company, as Lessor, and DEER
VALLEY RESORT COMPANY, LLC, a Utah limited liability company, as Lessee for a term of 105 years, as
disclosed by that certain Memorandum of Lease:
Dated: August 24, 2023
Recorded: August 24, 2023
Entry No.: 535957
Book: 1451
Page: 1007, of the Official Records.
Page 15
Mayflower Environmental Covenant – Repository Covenant #2
Page 31 of 35
FIDELITY NATIONAL TITLE INSURANCE COMPANY COMMITMENT NO. NCSUT00811
SCHEDULE B, PART II - Exceptions
(continued)
This page is only a part of a 2021 ALTA® Commitment for Title Insurance issued by Fidelity National 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; Schedule B, Part II-Exceptions; and a
counter-signature by the Company or its issuing agent that may be in electronic form.
Copyright 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.
ALTA Commitment for Title Insurance (07/01/2021)Printed: 07.11.25 @ 07:33 PM
UT-FT-FCTV-03000.990220-SPS-1-25-NCSUT00811
55.The terms, conditions, restrictions, reservations and limitations of that certain Easement Agreement (Pioche
Village Recreation):
Recorded: September 21, 2023
Entry No.: 536895
Book: 1453
Page: 1949, of the Official Records.
56.The terms, conditions, restrictions, reservations and limitations of that certain Declaration of Restrictive Covenant
Regarding Exclusivity:
Recorded: November 2, 2023
Entry No.: 538360
Book: 1457
Page: 1366, of the Official Records.
57.Deed of Trust, Assignment of Rents, Security Agreement and Fixture Filing:
Dated: January 23, 2024
Trustor: BLX LEASE 2 LLC, a Delaware limited liability company
Trustee: Stewart Title of Utah, Inc.
Beneficiary: Guggenheim Loan Services Company, LLC, a Delaware limited liability company
Amount: $116,250,000.00
Recorded: January 23, 2024
Entry No.: 541071
Book: 1464
Page: 614, of the Official Records.
Consent and Acknowledgment of Guggenheim Loan Services Company, LLC recorded June 30, 2025, as Entry
No. 561245 in Book 1520 at Page 1096, of the Official Records.
58.The terms, conditions, restrictions, reservations and limitations of that certain Fee Mortgage Protection
Agreement, Acknowledge of Lease Priority and Assignment and Attornment Agreement:
Recorded: January 23, 2024
Entry No.: 541072
Book: 1464
Page: 659, of the Official Records
59.The terms, conditions, restrictions, reservations and limitations of that certain Use, Access, Construction and
Maintenance Easement Agreement:
Recorded: May 20, 2024
Entry No.: 545493
Book: 1475
Page: 1597, of the Official Records.
Scrivener's Affidavit recorded July 26, 2024, as Entry No. 548013, in Book 1482 at Page 769, of the Official
Records.
Page 16
Mayflower Environmental Covenant – Repository Covenant #2
Page 32 of 35
FIDELITY NATIONAL TITLE INSURANCE COMPANY COMMITMENT NO. NCSUT00811
SCHEDULE B, PART II - Exceptions
(continued)
This page is only a part of a 2021 ALTA® Commitment for Title Insurance issued by Fidelity National 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; Schedule B, Part II-Exceptions; and a
counter-signature by the Company or its issuing agent that may be in electronic form.
Copyright 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.
ALTA Commitment for Title Insurance (07/01/2021)Printed: 07.11.25 @ 07:33 PM
UT-FT-FCTV-03000.990220-SPS-1-25-NCSUT00811
60.The terms, conditions, restrictions, reservations and limitations of that certain Use, Access, Construction and
Maintenance Easement Agreement (Marcella Landing Amenity Building):
Recorded: September 3, 2024
Entry No.: 549571
Book: 1486
Page: 1696, of the Official Records.
61.Notice of Pre-Co Fee, and the terms, conditions, and limitations contained therein:
Recorded: October 18, 2024
Entry No.: 551423
Book: 1492
Page: 233, of the Official Records.
62.Easements, notes and restrictions as shown on the recorded plat of DVEV PLAT C recorded June 30, 2025, as
Entry No. 561242 in Book 1520 at Page 1076, of the Official Records.
63.The rights of parties in possession of subject property under unrecorded Contracts, Leases, Rental or Occupancy
Agreements and any claim and/or claim liens thereunder.
64.ANY LIEN, OR RIGHT TO A LIEN, FOR SERVICES, LABOR OR MATERIAL HERETOFORE OR HEREAFTER
FURNISHED IMPOSED BY LAW AND NOT SHOWN BY THE PUBLIC RECORDS.
SUBJECT TO ANY PRELIMINARY NOTICE(S) THAT MAY APPEAR IN THE STATE CONSTRUCTION
REGISTRY AND THE LIEN RIGHTS ASSOCIATED THEREIN.
This exception may be deleted from the policy when verification that all lien claimants who have filed a preliminary
notice with the SCR have been paid.
END OF EXCEPTIONS
NOTES
Note A:NOTE: Judgments have been searched in the names of BLX LEASE 2 LLC, BLX LOT 22, BLX LOT 23
and MIDA Mountain Village Public Infrastructure District, and those not satisfied of record (IF ANY)
which, in the opinion of the Company, constute liens against the Land, are set forth in Schedule B, Part II
herein.
Note B:Tax Parcel Map
END OF NOTES
END OF SCHEDULE B, PART II
Page 17
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Page 33 of 35
FIDELITY NATIONAL TITLE INSURANCE COMPANY COMMITMENT NO. NCSUT00811
This page is only a part of a 2021 ALTA® Commitment for Title Insurance issued by Fidelity National 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; Schedule B, Part II-Exceptions; and a
counter-signature by the Company or its issuing agent that may be in electronic form.
Copyright 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.
ALTA Commitment for Title Insurance (07/01/2021)Printed: 07.11.25 @ 07:33 PM
UT-FT-FCTV-03000.990220-SPS-1-25-NCSUT00811
COMMITMENT CONDITIONS
1.DEFINITIONS
a."Discriminatory Covenant": Any covenant, condition, restriction, or limitation that is unenforceable under applicable law because it illegally
discriminates against a class of individuals based on personal characteristics such as race, color, religion, sex, sexual orientation, gender
identity, familial status, disability, national origin, or other legally protected class.
b."Knowledge" or "Known": Actual knowledge or actual notice, but not constructive notice imparted by the Public Records.
c."Land": The land described in Item 5 of Schedule A and improvements located on that land that by State law constitute real property. The
term "Land" does not include any property beyond that described in Schedule A, nor any right, title, interest, estate, or easement in any
abutting street, road, avenue, alley, lane, right-of-way, body of water, or waterway, but does not modify or limit the extent that a right of
access to and from the Land is to be insured by the Policy.
d."Mortgage": A mortgage, deed of trust, trust deed, security deed, or other real property security instrument, including one evidenced by
electronic means authorized by law.
e."Policy": Each contract of title insurance, in a form adopted by the American Land Title Association, issued or to be issued by the Company
pursuant to this Commitment.
f."Proposed Amount of Insurance": Each dollar amount specified in Schedule A as the Proposed Amount of Insurance of each Policy to be
issued pursuant to this Commitment.
g."Proposed Insured": Each person identified in Schedule A as the Proposed Insured of each Policy to be issued pursuant to this Commitment.
h."Public Records": The recording or filing system established under State statutes in effect at the Commitment Date under which a document
must be recorded or filed to impart constructive notice of matters relating to the Title to a purchaser for value without Knowledge. The term
"Public Records" does not include any other recording or filing system, including any pertaining to environmental remediation or protection,
planning, permitting, zoning, licensing, building, health, public safety, or national security matters.
i."State": The state or commonwealth of the United States within whose exterior boundaries the Land is located. The term "State" also
includes the District of Columbia, the Commonwealth of Puerto Rico, the U.S. Virgin Islands, and Guam.
j."Title": The estate or interest in the Land identified in Item 3 of Schedule A.
2.If all of the Schedule B, Part I-Requirements have not been met within the time period specified in the Commitment to Issue Policy, this
Commitment terminates and the Company's liability and obligation end.
3.The Company's liability and obligation is limited by and this Commitment is not valid without:
a.the Notice;
b.the Commitment to Issue Policy;
c.the Commitment Conditions;
d.Schedule A;
e.Schedule B, Part I-Requirements; and
f.Schedule B, Part II-Exceptions; and
g.a counter-signature by the Company or its issuing agent that may be in electronic form.
4.COMPANY'S RIGHT TO AMEND
The Company may amend this Commitment at any time. If the Company amends this Commitment to add a defect, lien, encumbrance, adverse
claim, or other matter recorded in the Public Records prior to the Commitment Date, any liability of the Company is limited by Commitment
Condition 5. The Company is not liable for any other amendment to this Commitment.
5.LIMITATIONS OF LIABILITY
a.The Company's liability under Commitment Condition 4 is limited to the Proposed Insured's actual expense incurred in the interval between
the Company's delivery to the Proposed Insured of the Commitment and the delivery of the amended Commitment, resulting from the
Proposed Insured's good faith reliance to:
i.comply with the Schedule B, Part I-Requirements;
ii.eliminate, with the Company's written consent, any Schedule B, Part II-Exceptions; or
iii.acquire the Title or create the Mortgage covered by this Commitment.
b.The Company is not liable under Commitment Condition 5.a. if the Proposed Insured requested the amendment or had Knowledge of the
matter and did not notify the Company about it in writing.
c.The Company is only liable under Commitment Condition 4 if the Proposed Insured would not have incurred the expense had the
Commitment included the added matter when the Commitment was first delivered to the Proposed Insured.
d.The Company's liability does not exceed the lesser of the Proposed Insured's actual expense incurred in good faith and described in
Commitment Condition 5.a.or the Proposed Amount of Insurance.
e.The Company is not liable for the content of the Transaction Identification Data, if any.
Page 18
Mayflower Environmental Covenant – Repository Covenant #2
Page 34 of 35
FIDELITY NATIONAL TITLE INSURANCE COMPANY COMMITMENT NO. NCSUT00811
(continued)
This page is only a part of a 2021 ALTA® Commitment for Title Insurance issued by Fidelity National 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; Schedule B, Part II-Exceptions; and a
counter-signature by the Company or its issuing agent that may be in electronic form.
Copyright 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.
ALTA Commitment for Title Insurance (07/01/2021)Printed: 07.11.25 @ 07:33 PM
UT-FT-FCTV-03000.990220-SPS-1-25-NCSUT00811
f.The Company is not obligated to issue the Policy referred to in this Commitment unless all of the Schedule B, Part I-Requirements have been
met to the satisfaction of the Company.
g.The Company's liability is further limited by the terms and provisions of the Policy to be issued to the Proposed Insured.
6.LIABILITY OF THE COMPANY MUST BE BASED ON THIS COMMITMENT; CHOICE OF LAW AND CHOICE OF FORUM
a.Only a Proposed Insured identified in Schedule A, and no other person, may make a claim under this Commitment.
b.Any claim must be based in contract under the State law of the State where the Land is located and is restricted to the terms and provisions
of this Commitment. Any litigation or other proceeding brought by the Proposed Insured against the Company must be filed only in a State or
federal court having jurisdiction.
c.This Commitment, as last revised, is the exclusive and entire agreement between the parties with respect to the subject matter of this
Commitment and supersedes all prior commitment negotiations, representations, and proposals of any kind, whether written or oral, express
or implied, relating to the subject matter of this Commitment.
d.The deletion or modification of any Schedule B, Part II-Exception does not constitute an agreement or obligation to provide coverage beyond
the terms and provisions of this Commitment or the Policy.
e.Any amendment or endorsement to this Commitment must be in writing and authenticated by a person authorized by the Company.
f.When the Policy is issued, all liability and obligation under this Commitment will end and the Company's only liability will be under the Policy.
7.IF THIS COMMITMENT IS ISSUED BY AN ISSUING AGENT
The issuing agent is the Company's agent only for the limited purpose of issuing title insurance commitments and policies. The issuing agent is
not the Company's agent for closing, settlement, escrow, or any other purpose.
8.PRO-FORMA POLICY
The Company may provide, at the request of a Proposed Insured, a pro-forma policy illustrating the coverage that the Company may provide. A
pro-forma policy neither reflects the status of Title at the time that the pro-forma policy is delivered to a Proposed Insured, nor is it a commitment
to insure.
9.CLAIMS PROCEDURES
This Commitment incorporates by reference all Conditions for making a claim in the Policy to be issued to the Proposed Insured. Commitment
Condition 9 does not modify the limitations of liability in Commitment Conditions 5 and 6.
10.CLASS ACTION
ALL CLAIMS AND DISPUTES ARISING OUT OF OR RELATING TO THIS COMMITMENT, INCLUDING ANY SERVICE OR OTHER MATTER IN
CONNECTION WITH ISSUING THIS COMMITMENT, ANY BREACH OF A COMMITMENT PROVISION, OR ANY OTHER CLAIM OR DISPUTE
ARISING OUT OF OR RELATING TO THE TRANSACTION GIVING RISE TO THIS COMMITMENT, MUST BE BROUGHT IN AN INDIVIDUAL
CAPACITY. NO PARTY MAY SERVE AS PLAINTIFF, CLASS MEMBER, OR PARTICIPANT IN ANY CLASS OR REPRESENTATIVE
PROCEEDING. ANY POLICY ISSUED PURSUANT TO THIS COMMITMENT WILL CONTAIN A CLASS ACTION CONDITION.
11.ARBITRATION
The Policy contains an arbitration clause. All arbitrable matters when the Proposed Amount of Insurance is Two Million And No/100 Dollars
($2,000,000.00) or less may be arbitrated at the election of either the Company or the Proposed Insured as the exclusive remedy of the parties. A
Proposed Insured may review a copy of the arbitration rules at http://www.alta.org/arbitration.
END OF CONDITIONS
Page 19
Mayflower Environmental Covenant – Repository Covenant #2
Page 35 of 35