COMMITMENT FOR TITLE INSURANCE

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1 ClFidelity National Title Insurance Company File No. COMMITMENT FOR TITLE INSURANCE Issued by Fidelity National Title Insurance Company Fidelity National Title Insurance Company, a California co,poration (" 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 Band 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 commilledfor have been inserted in Schedule A by the Company. All liability and obligation under this Commitment shall cease and terminate 6 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. IN WITNESS WHEREOF, Fidelity National Title Insurance Company has caused its corporate name and seal to be affixed by its duly authorized officers on the date shown in Schedule A. Fidelity Nations/ Title ln!iurance Company First Title Services, LLC 216 S 2nd St Tucum cari, NM Tel: Fax: Countersigned: Authorized Signatory 27Cl063 1 (6108) NM -6 ALTA Comm iunent (8 / 1 / 0 8) Copyright American Land Title Association. All rights reserved. The use of this Form is restricte d to ALTA licensees and ALTA mem bers in good standing as of the date of use. All other uses are prohibite d. Reprinted u nder l ice nse from the American Land T it le Association "'"" "' "

2 CONDITIONS I. 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 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 suc h 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 of this Commitment accordingly, but such amendment shall not relieve the Company from liability previously incurred pursuant to paragraph 3 of these Conditi ons. 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, 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 Sched ul e A for the policy or policies committed for and such liability is subject to the insuring provisions and Conditions and the Exc l us ions 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 111al/ers when the A111011nl 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 al <http :// 27Cl 063 l (6/08) NM-6 ALTA Commihn ent (8/1/08) Copyright American Land Title Association. All rights reserved. The use of this Form is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are proh ibited. Reprinted under license from the American Land Tit le Association ::"O.:,!::!

3 Pursuant to the New Mexico Title Insurance Law 59-A-30-4 NMSA 1978, Control and supervision by superintendent and Title Insurance Regulation , NMAC, no part of any title insurance commitment, policy or endorsement form 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. COMMITMENT FOR TITLE INSURANCE Issued by Fidelity National Title Insurance Company File No: SCHEDULE A 1. Effective Date: September 6, 2016, 8:00 am 2. Policy or Policies to be issued: Amount (a) ALTA Owner's Policy ( ) (NM Form 1): Proposed Insured: TBD TBD (b) ALTA Loan Policy ( ) (NM Form 2): Proposed Insured: (c) ALTA Loan Policy ( ) (NM Form 2): Proposed Insured: 3. The estate or interest in the land described or referred to in this Commitment is Fee Simple. 4. Title to the Fee Simple estate or interest in the land is at the Effective Date vested in: Mexico. 5. The land referred to in this Commitment is described as follows: Tract No. Fourteen (14) of the Tu-Cam Corporation Subdivision, Quay County, New Mexico. This title commitment is not effective until Schedule A is completed and the company reserves the right to amend and supplement this commitment with additional information, requirements and exceptions based upon the provision of additional information. Schedule A Page 1

4 COMMITMENT FOR TITLE INSURANCE Issued by Fidelity National Title Insurance Company SCHEDULE B I. Requirements: The following are the requirements to be complied with: A. Payment of the full consideration to, or for the account of, the grantors or mortgagors. B. Payment of all taxes, charges, assessments, levied and assessed against subject premises, which are due and payable. C. Satisfactory evidence should be had that improvements and/or repairs or alterations thereto are completed; that contractor, subcontractors, labor and materialmen are all paid. D. Instruments necessary to create the estate or interest to be insured must be properly executed, delivered and duly filed for record, to wit: 1. A Release of Claim of Lien by Arch Hurley Conservancy District, against Borrower, in the amount of $599.24, plus penalty and interest recorded August 19, 2015 at 11:15 a.m., as Document #, Records of Quay County, New Mexico. 2. A Release of Mortgage dated February 13, 2008, recorded February 21, 2008, at 3:28 p.m., as Document No., Records of Quay County, New Mexico, in favor of Taylor, Bean & Whitaker Mortgage Corp., in the original principal amount of One Hundred Two Thousand Five Hundred Fifteen ($102,515.00). As assigned to BAC Home Loans Servicing, LP fka Countrywide Home Loans Servicing LP by Assignment of Mortgage dated June 21, 2010, recorded June 22, 2010 at 9:36 a.m., as Document No., Records of Quay County, New Mexico. As assigned to Selene Finance LP by Assignment of Mortgage dated January 27, 2015, recorded March 23, 2015 at 10:18 a.m., as Document No., Records of Quay County, New Mexico. 3. Final Disposition of that suit styled titled Selene Finance LP, vs First Choice Homes under Case or Docket No. claiming or seeking Foreclosure and other matters and any claims or rights that may be reflected by, or judgments, decrees, or orders rendered pursuant to the suit. 4. A Release of the Notice of Lis Pendens recorded March 25, 2013 at 9:30 a.m., as Document No, Records of Quay County, reflecting that suit styled entitled Band of America, N.A. vs. 5. Execution and recordation of a Special Master's Deed to the highest bidder at the Special Master's Sale. 6. Entry of an Order approving the Special master's Sale by the district court judge in the judicial foreclosure case as Case No. 7. Provide evidence that the borrowers/mortgagors have vacated possession of the property and there are no tenants in possession of the property. NOTE: The company reserves the right to amend the requirements or exceptions in this commitment upon receipt Page 2

5 and review of any of the above documents, instruments, or additional information. This title commitment is not effective until Schedule A is completed and the company reserves the right to amend and supplement this commitment with additional information, requirements and exceptions based upon the provision of additional information. Page 3

6 COMMITMENT FOR TITLE INSURANCE Issued by Fidelity National Title Insurance Company SCHEDULE B-II II. of the policy or policies to be issued will contain exceptions to the following matters unless the same are disposed of to the satisfaction of the Company: 1. Rights or claims of parties in possession not shown by the public records. 2. Easements, or claims of easements, not shown by the public records. 3. Encroachments, overlaps, conflicts in boundary lines, shortages in area, or other matter which would be disclosed by an accurate survey and inspection of the premises. 4. Any lien, claim or right to a lien, for services, labor or material heretofore or hereafter furnished, imposed by law and not shown by the public records. 5. Community property, survivorship, or homestead rights, if any, of any spouse of the insured (or vestee in a leasehold or loan policy). 6. Water rights, claims or title to water. 7. Taxes for the year 2016, and thereafter. (See NMAC) 8. 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 records the estate or interest or mortgage thereon covered by this commitment. Exceptions numbered will not appear in the loan policy but will appear in the owner'spolicy, if any. 9. Reservations or exceptions in patents or in acts authorizing the issuance thereof. 10. Burdens, Charges, and Assessments of the Arch Hurley Conservancy District 11. Restrictive covenants and reservations placed on the Tracts of the Subdivision by Tu-Cam Corporation in an instrument filed January 20, 1978, and appearing in Volume 63, Page 613, Miscellaneous Records, Quay County, New Mexico. 12. Plat of the Subdivision in Volume 10, Page 1 of the Plat Records of Quay County, New Mexico, containing certain restrictive covenants concerning setbacks, road right of ways and easements along the sides and rear of each tract. 13. All Rights-of-Way and Easements for highway and/or utilities shown of records; including but not limited to the following: 14. Two certain Right-of-way Notices, dated November 6, 1961 and July 23, 1963, recorded on October 23, 1963, at 9:00 a.m., in Book 51, at Pages 427 and 529, respectively, of the Miscellaneous Records, Quay County, New Mexico, giving notice of the intent of the United States Department of the Interior, Bureau of Reclamation, to utilize its Right-of-Way across a portion of Section 16, Township 11 North, Range 31 East, N.M.P.M. Page 4

7 File No: 15. Conservancy District, dated January 10, 1973, recorded in Book 60, Page 95, Miscellaneous Records, Quay County, New Mexico. This agreement provides that water will be delivered to the irrigated tract from specified turn-outs only and that there will be no obligation on the part of the Arch Hurley Conservancy District to furnish water to individual acreage within Section 16, T.11N., R.31E., N.M.P.M. 16. Deed of Right-of-way and Easement dated August 26, 1938, in favor of Tucumcari Light and Power Company granting and conveying a Right-of-way and Easement to Erect, Construct, Operate and Maintain a line for the transmission of electric energy thereover for any purpose for which electric energy is now or hereafter may be used over and across a strip of land twenty (20) feet wide. This instrument is recorded in Book 65, Pages A Miscellaneous Records, Quay County, New Mexico. 17. Assignment from the City of Tucumcari to Southwestern Public Service Company, filed for record March 19, 1980, at 9:40 a.m., in Book 65, Page 750, Miscellaneous Records, Quay County, New Mexico. 18. Easement to RAD Water Users Cooperative, dated April 20, 1964, granting the right to construct, install, operate, repair, maintain, replace and remove a water transmission line and appurtenances over an across the SW¼ of Section 16, T.11N., R.31E., N.M.P.M. This Instrument appears of record in Book 52, Page 442, Miscellaneous Records, Quay County, New Mexico. 19. Easement to Arch Hurley Conservancy District, dated January 16, 1973, for the purpose constructing and maintaining an irrigation lateral upon and across a tract of land in the E½NE¼ and NE¼SE¼ of Section 16, T.11N., R.31E., N.M.P.M. This instrument appears of record in Book 60, Page 94, Miscellaneous Records, Quay County, New Mexico. 20. By Judgement entered in Quay County, New Mexico, District Court Case No , two certain Tracts of land situate within Section 16, T.11N., R. 31E., N.M.P.M., were condemned for use by the New Mexico State Highway Department. Said Judgement was dated April 6, 1978, and was recorded May 23, 1978, at 9:00 a.m., in Book 63, Pages , Miscellaneous Records, Quay County, New Mexico. 21. Right-of-Way to the New Mexico State Highway Commission, dated August 5, 1948, covering a 50 foot strip of land in the SW¼SW¼, SE¼SW¼ and the SE¼SE¼ of Section 16, T.11N., R.31E., N.M.P.M., for public highway purposes. This instrument appears of record in Book 61, Page 449, Warranty Deed Records, Quay County, New Mexico. 22. Right of Way Easement to RAD Water Users Cooperative, dated June 15, 1982, granting the right to erect, construct, install and lay thereafter use, operate, inspect, repair, maintain, replace and remove a water transmission line and necessary appurtenances, over and across the following land owned by grantor in Quay County, State of New Mexico: Tu-Cam Corporation Subdivision, Section 16, T.11N., R.31E., N.M.P.M., together with the right of ingress and egress, said Easement filed for record on June 28, 1982, at 3:00 p.m., in Book 70, Page 479, Miscellaneous Records, Quay County, New Mexico. 23. Right of Way Easement to RAD Water Users Cooperative, dated June 15, 1982, granting the Right to erect, construct, install, and lay and thereafter use, operate, inspect, repair, maintain, replace and remove a alter transmission line and necessary appurtenances, over and across the following land owned by grantor in Quay County, State of New Mexico; Tu-Cam Corporation Subdivision, Section 16, T.11n., R.31E., N.M.P.M., together with the right of ingress and egress, said Easement filed for record on June 28, 1982, at 3:00 p.m., in Book 70, Page 480, Miscellaneous Records, Quay County, New Mexico. Page 5

8 File No: 24. Rights of redemption arising our of the judicial foreclosure proceedings in the State of New Mexico District Court for the Tenth Judicial District, County of Quay in Case No The effect of any pleadings, including, but not limited to, relating to notices of appeal or motions for rehearing, arising out of the judicial foreclosure proceedings in State of New Mexico District Court for the Tenth Judicial District, County of Quay in Case No. 26. Minerals of whatsoever kind, subsurface and surface substances, including but not limited to coal, lignite, oil, gas, uranium, clay, rock, sand and gravel in, on, under and that may be produced from the Land, together with all rights, privileges, and immunities relating thereto, whether or not appearing in the Public Records or listed in. The Company makes no representation as to the present ownership of any such interests. There may be leases, grants, exceptions or reservations of interests that are not listed. This title commitment is not effective until Schedule A is completed and the company reserves the right to amend and supplement this commitment with additional information, requirements and exceptions based upon the provision of additional information. 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. Except for the issuance of a U.S. Policy form (NM7 or NM34), any policy to be issued pursuant to this commitment will be endorsed or modified in schedule B by the company to waive its right to demand arbitration pursuant to the conditions and stipulations of the policy at no cost or charge to the insured. The endorsement or the language added to schedule B of the policy shall read: "In compliance with Subsection D of NMAC, the company hereby waives its right to demand arbitration pursuant to the title insurance arbitration rules of the American Land Title Association. Nothing herein prohibits the arbitration of all arbitrable matters when agreed to by both the company and the insured." Page 6

File No: Privacy Policy Notice PURPOSE OF THIS NOTICE Title V of the Gramm-Leach-Blilley Act (GLBA) generally prohibits any financial institution, directly or through its affiliates, from sharing

9 File No: Privacy Policy Notice PURPOSE OF THIS NOTICE Title V of the Gramm-Leach-Blilley 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 notice of 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 GLBA, we are providing you with this document, which notifies you of the privacy policies and practices of First Title Services, LLC. Depending upon which of our services you are utilizing, we may collect nonpublic personal information about you from the following sources: Information we receive from you such as on applications or other forms. Information about your transactions we secure from our files, or from our affiliates or others. Information we receive from a consumer reporting agency. Information that we receive 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 may disclose this information about our customers or former customers to the following types of nonaffiliated companies that perform services on behalf or with whom we have joint marketing agreements: Financial service providers such as companies engaged in banking, consumer finance, securities and insurance. Non-financial companies such as envelope stuffers and other fulfillment service providers. 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 personal information. First Title Services, LLC PO Box South Second St. Tucumcari, NM title@ftsnm.com Page 7

Commitment. Commitment for Title Insurance

Commitment. Commitment for Title Insurance Commitment for Title Insurance ISSUED BY First American Title Insurance Company Commitment COMMITMENT NUMBER First American Title Insurance Company, a Nebraska corporation ("Company"), for a valuable consideration,