CLTA Trustee's Sale Guarantee (Revised 05-27-09) 22

TRUSTEE'S SALE GUARANTEE


SUBJECT TO THE EXCLUSIONS FROM COVERAGE, THE LIMITS OF LIABILITY AND THE OTHER PROVISIONS OF THE CONDITIONS AND STIPULATIONS HERETO ANNEXED AND MADE A PART OF THIS GUARANTEE,

STEWART TITLE GUARANTY COMPANY
a corporation, herein called the Company

GUARANTEES
the Assured named in Part 2 of this Guarantee

against loss not exceeding the liability amount stated in Part 2 which the Assured shall sustain by reason of any incorrectness in the assurance which the Company hereby gives that, according to the public records, as of the Date of Guarantee shown in Part 2:

1. The title to the herein described estate or interest was vested in the vestee named, subject to the matters shown as Exceptions herein, which Exceptions are not necessarily shown in the order of their priority;

2. The names and addresses of persons who have recorded requests, as provided by Section 2924b (a) and (d) of the California Civil Code, for a copy of notice of default and for a copy of notice of sale are as shown herein;

3. The names and addresses of additional persons who, as provided by Section 2924b (c) (1) and (2) of the California Civil Code, are entitled to receive a copy of notice of default and a copy of notice of sale are as shown herein;

4. The names and addresses of state taxing agencies which, as provided by Section 2924b (c) (3) of the California Civil Code, are entitled to receive a copy of notice of sale, are as shown herein;

5. The addresses of the Internal Revenue Service which, as provided by Section 2924b (c) (4) of the California Civil Code, are entitled to receive a copy of notice of sale, are as shown herein; and

6. The herein described land is located in the city or judicial district stated herein and, if designated, the newspaper or newspapers listed herein qualify for publication of notice pursuant to Section 2924f of the California Civil Code.

7. The name and address of any association as defined in Section 1351(a) of the California Civil Code which, as provided by Section 2924b (f) of the California Civil Code, is entitled to receive a copy of any trustee's deed upon sale concerning a separate interest governed by the association is shown herein.


STEWART TITLE GUARANTY COMPANY

Dated: ____________________

By:_______________________________

Guarantee No. _______________ Liability $ _______________

Date of Guarantee: _______________ Fee $ _______________


1. Name of Assured:

2. The estate or interest in the land hereinafter described or referred to covered by this Guarantee is:

3. Title to the estate or interest at the date hereof is vested in:

4. The land referred to in this Guarantee is situated in the State of California, County of
_______________________________, and is described as follows:


5. EXCEPTIONS:

INFORMATION FOR TRUSTEE

Guarantee No. _______________

Relative to the Deed of Trust shown as Exception _____ in Part 2.

1. City in which the land is located:
If not in a city, judicial district in which the land is located:

2. Legal publication:

3. The names and addresses of persons who have recorded requests, as provided by Section 2924b (a) and (d) of the California Civil Code, for a copy of Notice of Default and for a copy of Notice of Sale are:

4. The names and addresses of additional persons who, as provided by Section 2924b (c) (1) and (2) of the California Civil Code, are entitled to receive a copy of Notice of Default and a copy of Notice of Sale are:

5. The names and addresses of state taxing agencies which, as provided by Section 2924b (c) (3) of the California Civil Code, are entitled to receive a copy of Notice of Sale are:

6. The addresses of the Internal Revenue Service which, as provided by Section 2924b (c) (4) of the California Civil Code, are entitled to receive a copy of notice of sale are:

7. The name and address of any association as defined in Section 1351(a) of the California Civil Code which, as provided by Section 2924b (f) of the California Civil Code, is entitled to receive a copy of any trustee's deed upon sale concerning a separate interest governed by the association is:

8. Attention is called to the Servicemembers Civil Relief Act (Public Law 108-189, 50 USC Appx. Sections 501 et seq.) and any amendments thereto and the Military Reservist Relief Act of 1991 (California Military and Veterans Code Sections 800 et seq.), and any amendments thereto, each of which contain restrictions against the sale of land under a deed of trust if the owner is entitled to the benefits of those Acts.

9. Attention is called to the Federal Tax Lien Act of 1966 (Public Law 89-719, 26 USC Sections 6321 et seq.) and any amendments thereto, which, among other things, provides for the giving of written Notice of Sale in a specified manner to the Secretary of Treasury or his or her delegate as a requirement for the discharge or divestment of a Federal Tax Lien in a nonjudicial sale, and establishes with respect to that lien a right in the United States to redeem the property within a period of 120 days from the date of the sale.

10. Attention is called to SB 1137 (California Civil Code Section 2923.5) and any amendments thereto, which, among other things requires the Mortgagee, Trustee, Beneficiary or Authorized Agent, to contact homeowners to explore restructuring options before initiating the nonjudicial foreclosure process. The statute became operative on September 6, 2008 and applies to loans made from January 1, 2003 to December 31, 2007, secured by deeds of trust on owner-occupied residential property. A special declaration must be attached to or made a part of a Notice of Default recorded on or after September 8, 2008. If a Notice of Default was recorded prior to September 8, 2008, a Notice of Sale must also include the special declaration which confirms that the Mortgagee, Trustee, Beneficiary, or Authorized Agent, has complied with the due diligence requirements in contacting the borrower or that the borrower has surrendered the property.

11. Attention is called to ABX2 7 or the California Foreclosure Prevention Act and codified as California Civil Code Section 2923.52 et seq., and any amendments thereto, which among other things provides specified borrowers an additional 90 days in the non-judicial home foreclosure process, unless the mortgage loan servicer responsible for servicing the borrower's loan established that it has implemented a comprehensive loan modification program, as described in Civil Code Section 2923.53, and the servicer obtains an order, as specified, from the Commissioner of Corporations, Financial Institutions, or Real Estate. The order from the Commissioner of Corporations, Financial Institutions, or Real Estate exempts a mortgage loan servicer from the requirement in Civil Code Section 2923.52(a) that a borrower be provided an additional 90 days in the non-judicial home foreclosure process.

The Departments of Corporations, Financial Institutions, and Real Estate are required to adopt regulations to clarify the application of Civil Code Sections 2923.52 and 2923.53 (Section 2923.53(d) of the California Foreclosure Prevention Act).

ABX2 7 took effect on June 15, 2009.

[The arrangement and language of the matters shown in this Part 3 is to be in accordance with the practices of the issuing member company.]

 

For issuing guidelines on this form, see Guidelines