NM FORM 6: Commitment for Title Insurance Schedule A (7-1-21)

NM FORM 6:  COMMITMENT FOR TITLE INSURANCE

SCHEDULE A

ISSUED BY

STEWART TITLE GUARANTY COMPANY

"Pursuant to the New Mexico title insurance law Section 59A-30-4 NMSA 1978, and title insurance rule 13.14.18.9 NMAC, no part of any title insurance commitment, policy or endorsement form promulgated by the New Mexico superintendent of insurance may be added to, altered, inserted in or typed upon, deleted or otherwise changed from the title insurance form promulgated by the New Mexico superintendent of insurance, nor issued by a person or company not licensed with regard to the business of title insurance by the New Mexico superintendent of insurance, nor issued by a person or company who does not own, operate or control an approved title abstract plant as defined by New Mexico law and regulations for the county wherein the property is located, except as authorized by law."

Transaction Identification Data, for which the Company assumes no liability as set forth in Commitment Condition 5.e.:

Issuing Agent:

Issuing Office:

Issuing Office’s ALTA^® Registry ID:

Loan ID Number:

Commitment Number:

Issuing Office File Number:

Property Address:

Revision Number:

1.    Commitment Date:
 

2.    Policy to be issued:                                                                                                        

a.     NM FORM 1 Owner’s Policy

        Proposed Insured: ________________

        Proposed Amount of Insurance: $________________

        The estate or interest to be insured: ________________

b.     NM FORM 2 Loan Policy

        Proposed Insured: ________________

        Proposed Amount of Insurance: $_________________

        The estate or interest to be insured: ________________

c.     (Additional Policy Optional)

        Proposed Insured: ________________

        Proposed Amount of Insurance: $________________

        The estate or interest to be insured: ________________

3.    The estate or interest in the Land at the Commitment Date is: ______________________________.

4.    The Title is, at the Commitment Date, vested in[:] (Identify vesting for each estate or interest identified in Item 3 above)[ and, as disclosed in the Public Records, has been since (Date

5.    The Land is described as follows:

STEWART TITLE GUARANTY COMPANY

By:                                                      
          Authorized Signatory

Requirements

File Number:  ___________________

All of the following Requirements must be met:

1.    The Proposed Insured must notify the Company in writing of the name of any party not referred to in this Commitment who will obtain an interest in the Land or who will make a loan on the Land. The Company may then make additional Requirements or Exceptions.

2.    Pay the agreed amount for the estate or interest to be insured.

3.    Pay the premiums, fees, and charges for the Policy to the Company.

4.   Documents satisfactory to the Company that convey the Title or create the Mortgage to be insured, or both, must be properly authorized, executed, delivered, and recorded in the Public Records.

Exceptions

File Number:  _______________

Some historical land records contain Discriminatory Covenants that are illegal and unenforceable by law. This Commitment and the Policy treat any Discriminatory Covenant in a document referenced in Schedule B as if each Discriminatory Covenant is redacted, repudiated, removed, and not republished or recirculated. Only the remaining provisions of the document will be excepted from coverage.

"Standard Exceptions 1, 2, 3, and or 4 may be deleted from any policy upon compliance with all provisions of the applicable rules, upon payment of all additional premiums required by the applicable rules, upon receipt of the required documents and upon compliance with the Company’s underwriting standards for each such deletion. Standard Exception 5 may be deleted from the policy if the named insured in the case of an owner’s policy, or the vestee, in the case of a leasehold or loan policy, is a corporation, a partnership, or other artificial entity, or a person holding title as trustee"

The Policy will not insure against loss or damage resulting from the terms and conditions of any lease or easement identified in Schedule A, and will include the following Exceptions unless cleared to the satisfaction of the Company: 

1. Any defect, lien, encumbrance, adverse claim, or other matter that appears for the first time in the Public Records or is created, attaches, or is disclosed between the Commitment Date and the date on which all of the Schedule B, Part I - Requirements are met.
   
   
2. Rights or claims of parties in possession not shown by the public records.
   
   
3. Easements, or claims of easements, not shown by the public records.
   
   
4. Encroachments, overlaps, conflicts in boundary lines, or other matter which would be disclosed by an accurate survey and inspection of the premises.
   
   
5. Any lien, claim or right to a lien, for services, labor or material heretofore or hereafter furnished, imposed by law and not shown by public records.
   
   
6. Community property, survivorship or homestead rights, if any, of any spouse of the insured (or vestee in a leasehold or loan policy).
   
   
7. Water rights, claims or title to water.
   
   
8. Taxes for the year ____, and thereafter. (See Rule 13.14.5.12 NMAC.)
   
   
9. Defects, liens, encumbrances, adverse claims or other matters, if any, created first appearing in the public records or attaching subsequent to the effective date hereof but prior to the date the proposed insured acquires for value of record the estate or interest or mortgage thereon covered by this commitment.