PA Commitment Jacket ALTA 6-17-06 TIRBOP 4-1-07

COMMITMENT FOR TITLE INSURANCE

Issued by

STEWART TITLE GUARANTY COMPANY

 

Stewart Title Guaranty Company, a Texas Corporation ("Company"), for a valuable consideration, commits to issue its policy or policies of title insurance, as identified in Schedule A, in favor of the Proposed Insured named in Schedule A, as owner or mortgagee of the estate or interest in the land described or referred to in Schedule A, upon payment of the premiums and charges and compliance with the Requirements; all subject to the provisions of Schedules A and B and to the Conditions of this Commitment.

This Commitment shall be effective only when the identity of the Proposed Insured and the amount of the policy or policies committed for have been inserted in Schedule A by the Company.

All liability and obligation under this Commitment shall cease and terminate six months after the Effective Date or when the policy or policies committed for shall issue, whichever first occurs, provided that the failure to issue the policy or policies is not the fault of the Company.

The Company will provide a sample of the policy form upon request.

This commitment shall not be valid or binding until countersigned by a validating officer or authorized signatory.

 

IN WITNESS WHEREOF, Stewart Title Guaranty Company has caused its corporate name and seal to be hereunto affixed by its duly authorized officers on the date shown in Schedule A.

 

Countersigned:

 

__________________________

Authorized Countersignature

 

________________________

Company Name

 

________________________

City, State

CONDITIONS

1. The term mortgage, when used herein, shall include deed of trust, trust deed, or other security instrument.

2. If the proposed Insured has or acquired actual knowledge of any defect, lien, encumbrance, adverse claim or other matter affecting the estate or interest or mortgage thereon covered by this Commitment other than those shown in Schedule B hereof, and shall fail to disclose such knowledge to the Company in writing, the Company shall be relieved from liability for any loss or damage resulting from any act of reliance hereon to the extent the Company is prejudiced by failure to so disclose such knowledge. If the proposed Insured shall disclose such knowledge to the Company, or if the Company otherwise acquires actual knowledge of any such defect, lien, encumbrance, adverse claim or other matter, the Company at its option may amend Schedule B of this Commitment accordingly, but such amendment shall not relieve the Company from liability previously incurred pursuant to paragraph 3 of these Conditions.

3. Liability of the Company under this Commitment shall be only to the named proposed Insured and such parties included under the definition of Insured in the form of policy or policies committed for 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. In no event shall such liability exceed the amount stated in Schedule A for the policy or policies committed for and such liability is subject to the insuring provisions and Conditions and the Exclusions from Coverage of the form of policy or policies committed for in favor of the proposed Insured which are hereby incorporated by reference and are made a part of this Commitment except as expressly modified herein.

4. This Commitment is a contract to issue one or more title insurance policies and is not an abstract of title or a report of the condition of title.  Any action or actions or rights of action that the proposed Insured may have or may bring against the Company arising out of the status of the title to the estate or interest or the status of the mortgage thereon covered by this Commitment must be based on and are subject to the provisions of this Commitment.

5. The policy to be issued contains an arbitration clause.   All arbitrable matters when the Amount of Insurance is $2,000,000 or less shall be arbitrated at the option of either the Company or the Insured as the exclusive remedy of the parties.  You may review a copy of the arbitration rules at http://www.alta.org .

All notices required to be given the Company and any statement in writing required to be furnished the Company shall be addressed to it at P.O. Box 2029, Houston, Texas 77252 .

The Commonwealth of Pennsylvania Department of Insurance requires that we send the following notice to you, our applicant, prior to closing.  They further require that you, the applicant, forward this notice to the consumer in advance of the day of closing:

 

NOTICE

Your title insurance fee covers the cost of closing on the insured real estate property IF it takes place during regular office hours and at the office of the Title Insurance Agent or Underwriter.

If your closing takes place at a location or time of your choosing, or that of your lender or realtor; the title insurance agent or underwriter may impose an additional charge for this special service.  You may determine the amount of this additional charge, if any, by calling: [Agent Phone]

 

NOTICE

If this conveyance or refinance occurs within ten years of a previous insurance of the same property, you may be entitled to a reduced rate. You may determine eligibility for a reduced rate, if any, by calling: [Agent Phone]

 

NOTICE:  Attention is directed to the provisions of the Pennsylvania Human Relations Act (Act of October 27, 1955, as amended (43 P.S. s 951 et seq.)) prohibiting discrimination because of race, color, religious creed, ancestry or national origin in the selling, leasing or financing of commercial housing. The said law pertains to all housing accommodations except (1) those situated in a single or two unit building in which one of the units is occupied by the owner thereof, and (2) those owned by religious, charitable, educational, private and fraternal organizations to promote the religious principles or the aims, purposes or fraternal principles for which such organizations were established. This notice does not in any way constitute an objection or defect in the title of the premises being conveyed, but is being given in accordance with 16 Pa. Code s. 43.13 (relating to giving of notice by title insurance companies) adopted by the Pennsylvania Human Relations Commission.

 

NOTICE

PRIVACY POLICY: Title V of the Gramm-Leach-Bliley Act (GLBA) generally prohibits any financial institution, directly or through its affiliates, from sharing nonpublic personal information about you with a nonaffiliated third party unless the institution provides you with a notice if its privacy policies and practices, such as the type of information that it collects about you and the categories of persons or entities to whom it may be disclosed. In compliance with the GBLA, we are providing you with this document, which notifies you of the privacy policies of Stewart Title Guaranty.

We may collect nonpublic personal information about you from the following sources:

  • Information we receive from you such as applications or other forms.
  • Information about your transactions we secure from our files, or from Stewart Title Guaranty or others.
  • Information we receive from a computer reporting agency.
  • Information from others involved in your transaction, such as the real estate agent or lender.

Unless it is specifically stated otherwise in an amended Privacy Policy Notice, no additional nonpublic personal information will be collected about you.

We may disclose any of the above information that we collect about our customers or former customers to our affiliates or to nonaffiliated third parties as permitted by law.

We also may disclose this information about our customers or former customers to nonaffiliated companies that perform services on our behalf.

WE DO NOT DISCLOSE ANY NONPUBLIC PERSONAL INFORMATION ABOUT YOU WITH ANYONE FOR ANY PURPOSE THAT IS NOT SPECIFICALLY PERMITTED BY LAW.

We restrict access to nonpublic personal information about you to those employees who need to know that information in order to provide products or services to you.  We maintain physical, electronic, and procedural safeguards that comply with federal regulations to guard your nonpublic information.

No guidelines are available for this form at this time.