OH Title Guaranty Commitment Revised 10-15-04

TITLE GUARANTY COMMITMENT 

STEWART TITLE GUARANTY COMPANY

COMMITMENT FOR ISSUANCE OF TITLE GUARANTY

STEWART TITLE GUARANTY COMPANY, a Texas Corporation, herein called the Company, for valuable consideration, hereby commits to issue its Title Guaranty to the party (parties) designated in Schedule A, as Owner or Mortgagee of the estate or interest designated herein in the land described in Schedule A, upon payment of the premium and charges therefore, and upon execution and recording of any deed, or other document necessary to create the estate or interest guaranteed, or of any release, satisfaction, or cancellation of any interest, lien, or encumbrance shown herein whose deletion is requested in such Title Guaranty.

This Commitment is subject to the provisions of Schedules A and B hereof, the Conditions and Stipulations hereof, and the Exclusions from Coverage and the Conditions and Stipulations of said Title Guaranty.

This Commitment shall be valid only when the specific identity of the proposed Guaranteed Party and the amount of the Guaranty have been inserted in Schedule A by the Company, either at the date of issuance of this Commitment, or, subsequently by Endorsement.

This Commitment is preliminary to and contingent upon the issuance of such Guaranty and all liability and obligations hereunder shall expire 90 days after the effective date hereof, or upon issuance of the Title Guaranty, whichever is earlier.

IN WITNESS WHEREOF, Stewart Title Guaranty Company has caused its corporate name and seal to be attached hereto by its duly authorized officers on the date shown in Schedule A, to be valid when countersigned by a validating officer.

CONDITIONS AND STIPULATIONS

1. Issuance of the Title Guaranty is subject to matters which shall intervene between the date of this Commitment and the date of issuance of said Guaranty. Issuance is further subject to matters in existence at the date of issuance of this Commitment and not excepted herein, but which shall cause no loss to the Guaranteed Party.

2. Liability of the Company under this Commitment shall be only to the named proposed Guaranteed Party and only for actual loss incurred in reliance hereon in undertaking in good faith (a) to comply with the requirements hereof, or, (b) to eliminate exceptions shown in Schedule B, or, (c) to acquire or create the estate or interest or mortgage thereon covered by this Commitment. Liability shall in no event exceed the amount stated in Schedule A hereof, and is subject to the insuring provisions, the Exclusions from Coverage, and the Conditions and Stipulations of said Title Guaranty all of which are hereby incorporated herein by reference as though set forth in full and which shall be binding upon the proposed Guaranteed Party except as expressly modified herein.

3. Any claim, action or rights of action that the proposed Guaranteed Party may have against the Company arising out of the status of the title or other interest covered by this Commitment must be based on and are subject to the provisions of this Commitment.

 

TITLE GUARANTY COMMITMENT FORM

SCHEDULE A

File Number _____________________________

Commitment Number ______________________

1. Effective date: _________________________ at 8 a.m.

2. Proposed Party or Parties to be guaranteed:

(a) Owner __________________________________________________________

(b) Mortgagee _______________________________________________________

(c) Other ___________________________________________________________

3. Amount of Coverage: _______________________________________________

4. Record title to the land described in this Commitment is at the date hereof vested in : ___________________________________________________________________

5. The estate or interest in the land described in this Schedule is: _______________

___________________________________________________________________

6. Description of land referred to in this Commitment:

Issuing Agent ____________________________________

Agent Control No. ________________________________

Address _________________________________________

City, State, Zip ___________________________________

Telephone _______________________________________

SCHEDULE B

Showing defects, liens, encumbrances and other matters which of record affect the title to the land described in Schedule A:

1. Taxes.