EFTA Document EFTA01279884

31 hill,, It 4'• • First American Title Insurance Company 11/7/2014 Fifth Third Mortgage Company, ISAOA 5001 Kingsley Drive MD I MOBA8 Cincinnati, OH 45227 RE: Loan #: 420361321 File #: 420361321 Dear Sir or Madam: When title insurance of First American Title Insurance Company is specified for your protection in connection with closings of North Carolina real estate transactions in which you are to be the lessee or purchaser of an interest in land or a lender secured by a mortgage (including any other security instrument) of an interest in land in accordance with N.C. Gen. Stat. Sec. 58-26-1, the Company, subject to the Conditions and exclusions set forth below, hereby agrees to reimburse you for actual loss incurred by you in connection with such closings when conducted by an Issuing Agent (an agent authorized to issue title insurance for the Company) or an Approved Attorney (an attorney upon whose certification of title the Company issues title insurance) and when such loss arises out of: 1. Failure of the Issuing Agent or Approved Attorney to comply with your written closing instructions to the extent that they relate to (a) the status of the title to said interest in land or the validity, enforceability and priority of the lien of said mortgage on said interest in land, including the obtaining of documents and the disbursements of funds necessary to establish such status of title or lien, or (b) the obtaining of any other document, specifically required by you, but only to the extent the failure to obtain such other document affects the status of the title to said interest in land or the validity, enforceability and priority of the lien of said mortgage on said interest in land, or Digital Signature:c6b61969-ef19-47 Online Validation. httos://atencv.mvfirstam.comivalidationf Agency Support Center - 7360 Bryan Dairy Rd., Suite 200, Largo, FL, 33777, 1-866-701-3361 mc-nRs-oi-2003 CONFIDENTIAL SDNY_GM_00030467 EFTA_00141085 EFTA01279884 t 0 First American Title Insurance Company 2. Fraud or dishonesty of the Issuing Agent or Approved Attorney in handling your funds or documents in connection with such closings to the extent such fraud or dishonesty relates to the status of the title to said interest in land or to the validity, enforceability, and priority of the lien of said mortgage on said interest in land. If you are a lender protected under the foregoing paragraph, your borrower in connection with a loan secured by a mortgage on a one-to-four family dwelling shall be protected as if this letter were addressed to your borrower. Conditions and Exclusions: A The Company will not be liable to you for loss arising out of: I. Failure of the Issuing Agent or Approved Attorney to comply with your closing instructions, which require title insurance protection inconsistent with that, set forth in the title insurance binder or commitment issued by the Company. Instructions that require the removal of specific exceptions to title or compliance with the requirements contained in said binder or commitment shall not be deemed to be inconsistent. 2. Loss or impairment of your funds in the course of collection or while on deposit with a bank due to bank failure, insolvency or suspension, except such as shall result from failure of the Issuing Agent or the Approved Attorney to comply with your written closing instructions to deposit the funds in a bank which you designated by name. 3. Mechanics' and materialmen's liens in connection with your purchase or lease or construction loan transactions, except to the extent that a title insurance binder, commitment or policy of the Company affords protection against such liens. 4. Failure of the Issuing Agent or Approved Attorney to comply with your written closing instructions to the extent such instructions require a determination by the Issuing Agent or Approved Attorney of the validity, enforceability or effectiveness of any document contemplated under paragraph 1(b) above. B. If the closing is to be conducted by an Issuing Agent or an Approved Attorney, a title insurance binder or commitment for the issuance of a policy of title insurance of the Company must have been received by you prior to the transmission of your fmal closing instructions to the Issuing Agent or Approved Attorney. C. When the Company shall have reimbursed you pursuant to the coverage contained in this letter, it shall be subrogated to all rights and remedies, which you would have had against any person or property, had you not been so reimbursed. Liability of the Company for such reimbursement shall be reduced to the extent that you have knowingly and voluntarily impaired the value of such right of subrogation. Digital Signature:c6b61969-ef19-47 Online Validation. httos://atencv.mvfirstam.comNalidationf Agency Support Center - 7360 Bryan Dairy Rd., Suite 200, Largo, FL, 33777, 1-866-701-3361 mc-nRs-oi-2003 CONFIDENTIAL SDNY_GM_00030468 EFTA_00141086 EFTA01279885 First American Title Insurance Company D Any liability of the Company for loss incurred by you in connection with closings of real estate transactions by an Issuing Agent or Approved Attorney shall be limited to the coverage provided. However, this coverage shall not affect the protection afforded by a title insurance binder, commitment or other policy of the Company. E. Claims shall be made promptly to the Company at its principal office at First American Title Insurance Company, Attn: Claims National Intake Center, I First American Way, Santa Ana, CA 92707. When the failure to give prompt notice shall prejudice the Company, then liability of the Company hereunder shall be reduced to the extent of such prejudice. The Company shall not be liable hereunder unless the Company receives notice of claim in writing within three years from the date of the Closing. F. The coverage herein offered extends only to real property transactions in North Carolina. The coverage herein offered will be effective upon your disbursement of funds to the Issuing Agent or Approved Attorney identified above after you receive this letter and will continue until canceled by written notice from the Company. Any previous Closing Protection Letter or similar agreement is hereby canceled, except as to closings of your real estate transactions regarding which you have previously sent (or within 30 days hereafter send) written closing instructions to the Issuing Agent or Approved Attorney. First American Title Insurance Company BY: Phillip Sholar, SVP, Director of Underwriting Cc: Vista Settlement Services, LLC 20 NW 3rd Street Evansville, IN 47708 Digital Signature:e6b61969-ef19-47 Online Validation. htics://atencv.mvfirstam.comivalidationf Agency Support Center - 7360 Bryan Dairy Rd., Suite 200, Largo, FL, 33777, 1-866-701-3361 mc-nRs-01-2003 CONFIDENTIAL SDNY_GM_00030469 EFTA_00141087 EFTA01279886