Bulletin: NY000132

Dear Associates:

A letter was sent to an agent of Stewart Title Insurance Company who has prepared a title report in connection with a transaction that may take place on the above-captioned premises within the next few weeks. The letter is from an attorney, Frank Mavroudis, who indicates that he represents Equivest, Inc. the holder of the following mortgage:

Mortgage made by William P. Ryan and Maryann Ryan, his wife, to Delta Funding Corp. in the amount of $55,000 dated 1/11/94 recorded 3/31/94 in Liber 16154, Page 0538. The mortgage was assigned by Delta Funding Corp. to the Bank of New York by assignment dated 3/7/74 and further assigned to Equivest, Inc. by assignment dated 5/2/96.

Mr. Mavroudis state in his letter that the above-mentioned mortgage was satisfied of record inadvertently, that, in fact, the mortgage indebtedness was not paid off and remains an ongoing obligation. He is in the process of obtaining an order to show cause to vacate the satisfaction but has chosen to notify this Company of error, in the event that this matter goes to closing prior to a determination on the merits of the order to show cause.

If you have an open title application or title report, or you were asked to insure a transaction involving the above-captioned premises, please contact this office prior to the scheduling of any closing with respect to such premises.