STG Disclosure - Issuance Without Exception

Acknowledgment of Issuance Without Exception

To: STEWART TITLE GUARANTY COMPANY

Re: _______________________

_______________________

The undersigned hereby acknowledges that Stewart Title Guaranty Company ("Stewart") will be issuing its owner's or loan policy to the undersigned without exception to those matters stated in Exhibit A hereto which remain outstanding and unreleased. The undersigned understands that by doing so, Stewart will indemnify the insured in accordance with the terms of the policy as to loss by reason of those matters or take other action, to the extent required by the policy, in the event notice or claim is made by the insured in accordance with the policy. Stewart does not represent whether such matters are enforceable or material or may result in loss of title.

This letter is executed in order to acknowledge disclosure to the undersigned of the said outstanding matters and does not diminish or alter the coverage of the policy.

Executed this the _____ day of ____________ , _____ .