LA Notice of Availability of Owner's Title Insurance

INITIALS

The additional cost to you for the simultaneous issue of an Owner's Policy of title insurance at this time is in the amount of:

POLICY COVERAGE AMOUNT:  $____________________

ADDITIONAL PREMIUM FOR SIMULTANEOUS COVERAGE:   $____________________.

Note that this rate is good during the scope of this transaction.  If you desire an Owner's Policy at a later date, the cost will be significantly higher, if available at all.

An Owner's Policy covers the following title risks, as of Date of Policy, subject to the exclusions and exceptions from coverage.

1. Someone else owns an interest in your title.

2. A document is invalid because of improper signature, acknowledgment, deliver,

or recording 

3. A document is invalid because of forgery, fraud, duress, incompetency, incapacity

or impersonation.

4. Restrictive covenants apply to your title.

5. There is a lien on your title because of:

*  a mortgage or deed of trust,

*  a judgment, tax, or special assessment, or

*  a charge by a homeowner's or condominium association.

6. There are liens on your title for labor and material which have their inception before

the policy date. However, we will not cover liens for labor and material that you agreed

to pay for.

7. Others have rights in your title arising out of leases, contracts or options.

8. Someone else has an easement on your land.

9. You do not have good and indefeasible title.

10. There are other defects in your title.

11. There are other liens or encumbrances on your title.

12. You do not have legal right of access to and from the land.

We also will defend your title in the part or parts of a court case involving a Title Risk covered by this Policy.

INITIALS

• You are forced to remove you existing structure, other than a boundary wall or fence, because it extends onto adjoining land or onto any easement, violates a restriction listed in Schedule B of the policy, or violates an existing zoning law.
• You cannot use the land because use as a single-family residence violates a restriction shown in Schedule B of the policy or an existing zoning law.

·         You also have the right to obtain a survey, at your cost, and if it is satisfactory to our company and Stewart Title Guaranty Company, we may include coverage in you Owner's Policy to insure you against actual loss you suffer if the matters covered by the survey are incorrect.

INITIALS

ADDITIONAL PREMIUM FOR COVERAGE:   $____________________.

• Mechanics lien protection, if included in policy schedules
• Forced removal of a structure because it extends on to other land or on to an easement
• Violates a restriction on Schedule B
• Cannot use the land for single family dwelling because the use violates an existing zoning law or regulation
• Pays rent for substitute land or facilities
• Unrecorded lien by a homeowners association
• Unrecorded easements
• Rights under unrecorded leases
• Violates an existing zoning law; Building permit; An existing subdivision law that leads to you not being able to obtain a permit; or forced removal of the violation *
• Restrictive covenant violations
• Post Policy Forgery; Encroachment; Living Trust Coverage; Prescriptive Easement;
• Post Policy Damage from minerals or water extraction
• Enhanced Access-Vehicular and Pedestrian
• Map not consistent with legal description
• Post Policy automatic in value up to 150%
• Post Policy adverse possession or cloud on title
• Covenant violation resulting in reversion
• Fence encroachment or boundary walls *
• Enhanced marketability of property
• Violations of building setbacks
• Discriminatory covenants

* Subject to a deductible and a maximum indemnity liability, which may be less than the policy amount.