EFTA01279884.pdf

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It First American
4'• •
Title Insurance Company
11/7/2014
Fifth Third Mortgage Company, ISAOA
5001 Kingsley Drive
MD I MOBA8
Cincinnati, OH 45227
RE: Loan #: 420361321
File #: 420361321
Dear Sir or Madam:
When title insurance of First American Title Insurance Company is specified for your protection in connection
with closings of North Carolina real estate transactions in which you are to be the lessee or purchaser of an
interest in land or a lender secured by a mortgage (including any other security instrument) of an interest in
land in accordance with N.C. Gen. Stat. Sec. 58-26-1, the Company, subject to the Conditions and exclusions
set forth below, hereby agrees to reimburse you for actual loss incurred by you in connection with such
closings when conducted by an Issuing Agent (an agent authorized to issue title insurance for the Company) or
an Approved Attorney (an attorney upon whose certification of title the Company issues title insurance) and
when such loss arises out of:
1. Failure of the Issuing Agent or Approved Attorney to comply with your written closing instructions to the
extent that they relate to (a) the status of the title to said interest in land or the validity, enforceability and
priority of the lien of said mortgage on said interest in land, including the obtaining of documents and the
disbursements of funds necessary to establish such status of title or lien, or (b) the obtaining of any other
document, specifically required by you, but only to the extent the failure to obtain such other document
affects the status of the title to said interest in land or the validity, enforceability and priority of the lien of
said mortgage on said interest in land, or
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2. Fraud or dishonesty of the Issuing Agent or Approved Attorney in handling your funds or documents in
connection with such closings to the extent such fraud or dishonesty relates to the status of the title to said
interest in land or to the validity, enforceability, and priority of the lien of said mortgage on said interest in
land.
If you are a lender protected under the foregoing paragraph, your borrower in connection with a loan secured
by a mortgage on a one-to-four family dwelling shall be protected as if this letter were addressed to your
borrower.
Conditions and Exclusions:
A The Company will not be liable to you for loss arising out of:
I. Failure of the Issuing Agent or Approved Attorney to comply with your closing instructions, which
require title insurance protection inconsistent with that, set forth in the title insurance binder or
commitment issued by the Company. Instructions that require the removal of specific exceptions
to title or compliance with the requirements contained in said binder or commitment shall not be
deemed to be inconsistent.
2. Loss or impairment of your funds in the course of collection or while on deposit with a bank due to
bank failure, insolvency or suspension, except such as shall result from failure of the Issuing Agent
or the Approved Attorney to comply with your written closing instructions to deposit the funds in a
bank which you designated by name.
3. Mechanics' and materialmen's liens in connection with your purchase or lease or construction loan
transactions, except to the extent that a title insurance binder, commitment or policy of the
Company affords protection against such liens.
4. Failure of the Issuing Agent or Approved Attorney to comply with your written closing instructions
to the extent such instructions require a determination by the Issuing Agent or Approved Attorney
of the validity, enforceability or effectiveness of any document contemplated under paragraph 1(b)
above.
B. If the closing is to be conducted by an Issuing Agent or an Approved Attorney, a title insurance binder
or commitment for the issuance of a policy of title insurance of the Company must have been received
by you prior to the transmission of your fmal closing instructions to the Issuing Agent or Approved
Attorney.
C. When the Company shall have reimbursed you pursuant to the coverage contained in this letter, it shall
be subrogated to all rights and remedies, which you would have had against any person or property,
had you not been so reimbursed. Liability of the Company for such reimbursement shall be reduced to
the extent that you have knowingly and voluntarily impaired the value of such right of subrogation.
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Title Insurance Company
D Any liability of the Company for loss incurred by you in connection with closings of real estate
transactions by an Issuing Agent or Approved Attorney shall be limited to the coverage provided.
However, this coverage shall not affect the protection afforded by a title insurance binder, commitment
or other policy of the Company.
E. Claims shall be made promptly to the Company at its principal office at First American Title Insurance
Company, Attn: Claims National Intake Center, I First American Way, Santa Ana, CA 92707. When
the failure to give prompt notice shall prejudice the Company, then liability of the Company hereunder
shall be reduced to the extent of such prejudice. The Company shall not be liable hereunder unless the
Company receives notice of claim in writing within three years from the date of the Closing.
F. The coverage herein offered extends only to real property transactions in North Carolina.
The coverage herein offered will be effective upon your disbursement of funds to the Issuing Agent or
Approved Attorney identified above after you receive this letter and will continue until canceled by written
notice from the Company.
Any previous Closing Protection Letter or similar agreement is hereby canceled, except as to closings of your
real estate transactions regarding which you have previously sent (or within 30 days hereafter send) written
closing instructions to the Issuing Agent or Approved Attorney.
First American Title Insurance Company
BY:
Phillip Sholar, SVP, Director of Underwriting
Cc:
Vista Settlement Services, LLC
20 NW 3rd Street
Evansville, IN 47708
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