Bulletin: FL000094

Dear Associates:

In our desire to improve efficiency and procedures we have developed and you are authorized to use the Streamlined Search Procedures (SSP) described in this Bulletin. Stewart's Title Plants will also be using the same procedures unless you request otherwise when placing your order. It is our hope that you will have a reduced risk of mistakes because you will have fewer documents to examine. However, you may continue to search in the traditional method for various reasons including, but not limited to: (i) your own internal practices; (ii) at the request of a customer; or, (iii) because there is a known title problem. Anytime that a title examiner is not comfortable with the SSP for a particular file, he/she should continue to search in the traditional methods until he/she is comfortable with the work product.

This SSP covers refinances and equity transactions on one to four residential properties.

STEWART TITLE GUARANTY COMPANY
STREAMLINED SEARCH PROCEDURES FOR FLORIDA USE

When you can use this procedure:
Residential Transactions involving one to four units. Equity and refinances.

Caution:
Use your own professional judgment as your guide to determine whether to use this streamlined search procedure. Evaluate the pending transaction. If it involves a Title with some known problem or for some other reason as appears to create a potential claim, do not use these procedures.

If the pending transaction is known to be an assemblage of what will become a much larger transaction with a much higher liability, do not use these procedures.

Prior Policy:
You may rely on a prior policy from Stewart issued be a Stewart office or reputable existing agent or on another reputable Underwriter as your starting point for your search and search forward. You may rely on such prior policy for restrictive covenants and easements and other exceptions unless others are known to you which should be included.

No Prior Policy:
If you have no prior policy, you may search from the last deed of record, which is accompanied by a known institutional first mortgage on which you have no knowledge of any claim. If you have a prior policy issued by a Stewart office or a reputable Stewart agent or on another reputable Underwriter in the same subdivision as this property, use the easements, restrictions and other exceptions from that prior policy, checking the plat for easements unique to your property. If there is no prior policy in the same subdivision then search for restrictive covenants and easements and exceptions from the deed into the grantor entity that developed the subdivision from the developer and examine the plat.

Metes and Bounds/Acreage:
Chain the title to the root of title. Examine the prior documents for restrictive covenants and easements since the root of title to discover any additional exceptions. Do a full search from the last deed of record which is accompanied by a known institutional first mortgage.

Judgments and Liens:
Do not do a judgment search for prior owners of the last deed of record which is accompanied by a known institutional mortgage. Do a full judgment search for the current owner (see separate Stewart Guaranty Company Bulletin FL000091 dealing with judgments in Florida).