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EXHIBIT ONE 2021 AMERICAN LAND TITLE ASSOCIATION LOAN POLICY (07-01-2021) EXCLUSIONS FROM COVERAGE The following matters are expressly excluded from the coverage of this policy, and the Company will not pay loss or damage, costs, attorneys' fees, or expenses that arise by reason of: 1. a. any law, ordinance, permit, or governmental regulation (including those relating to building and zoning) that restricts, regulates, prohibits, or relates to: 1. the occupancy, use, or enjoyment of the Land; li, the character,dimensions, or location of any Improvement on the Land; ill. the subdivision of land; or Iv, environmental remediation or protection.. It. any governmental forfeiture, police, regulatory, or national security power. c, the effect of a violation or enforcement of any matter excluded under Exclusion 1.a. or i.b. 2. Any power of eminent domain, Exclusion 2 does not modify or limit the coverage provided under Covered Risk 7. 3. Any defect, lien, encumbrance, adverse claim, or other matter: a. created, suffered, assumed, or agreed to by the Insured Claimant; b. not Known to the Company, not recorded in the Public Records at the Date of Policy, but Known to the Insured Claimant and not disclosed in writing to the Company by the Insured Claimant prior to the dale the Insured Claimant became an Insured under (his policy; c. resulting in no loss or damage to the Insured Claimant; d. attaching or created subsequent to the Dale of Policy (Exclusion 3.d. does not modify or limit the coverage provided under Covered Risk 11, 13, or 14); or e. resulting In loss or damage that would not have been sustained If considerable, sufficient to qualify the Insured named In Schedule A as a bona fee purchaser or encumbrancer had been given for the Insured Mortgage at the Date of Policy. 4. Unenforceability of the lien of the Insured Mortgage because of the inability or failure of an Insured to comply with applicable doing -business law. 5. Invalidity or unenforceability of the lien of the Insured Mortgage that arises out of the transaction evidenced by the Insured Mortgage and Is based upon usury or Consumer Protection Law. 6. Any claim, by reason of the operation of federal bankruptcy, state insolvency, or similar creditors' rights law, that the transaction creating the lien of the Insured Mortgage is a: a, fraudulent conveyance or fraudulent transfer; b. voidable transfer under the Uniform Voidable Transactions Act; or c. preferential transfer: 1. to the extend the Insured Mortgage is not a transfer made as a contemporaneous exchange for new value; or ii. for any reason not staled In the Covered Risk 13.1b 7. Any claim of a PACA-PSA Trust. Exclusion 7 does not modify or limit the coverage provided under Covered Risk 8. 8. Any lien on the Title for real estate taxes or assessments Imposed by a governmental authority and created or attaching between the Date of Policy and the date of recording of the Insured Mortgage In the Public Records. Exclusion 8 doesnot modify or limit the coverage provided under Covered Risk 2.b. or 1 Lb. 9, Any discrepancy in the quantity of the area, square footage, or acreage of the Land or of any 1mprovemenl to the Land. The above policy form may be Issued to afford either Standard Coverage or Extended Coverage. In -addition to the above Exclusions from Coverage, the, Exceptions from Coverage In a Standard Coverage policy will also include the following Exceptions from Coverage. SCHEDULE B- GENERAL EXCEPTIONS FROM COVERAGE This policy does not Insure against loss or damage (and the Company will not pay costs, attorneys' fees or expenses) which arise by reason of. 1. Taxes or assessments which are not shown as existing liens by the records of any taxing. 4. Any encroachment, encumbrance, violation, variation, or adverse circumstance authority that levies taxes or assessments on real property or by the Public Records; affecting the Title that would be disclosed by an accurate and complete land survey of proceedings by a public agency which may result In taxes or assessments, or notices of the Land. The term "encroachment" includes encroachments of existing such proceedings, whether or not shown by the records of such agency or by the Public Improvements located an the Land onto adjoining land, and encroachments onto the Records. - Land of existing Improvements located an adjoining land. 2. Facts, rights, interests or claims which are not shown by the Public Records but which 5. Any lien for services, labor or material heretofore or hereafter furnished, or for could be ascertained by an Inspection of the Land or by making Inquiry of persons In contributions due to the State of Oregon for unemployment compensation or workers possession thereof. - compensation, Imposed by law and not shown, by the Public Records. 3. Easements, or claims of easement, not shown by the Public Records; reservations or exceptions in patents or In Acts authorizing the issuance thereof, water rights, claims or title to water. 2021 AMERICAN LAND TITLE ASSOCIATION OWNER'S POLICY (07-01-2021) EXCLUSIONS FROM COVERAGE The following matters are excluded from the coverage of this policy and the Company will d. attaching or created subsequent to the Date of Policy (Exclusion 3.d. does not not pay loss or damage, costs, attorneys' fees or expenses that arise by reason of: modify or limit the coverage provided under Covered Risk 9 or 10); or 1. a, any law, ordinance, permit, or governmental regulation (including those relating to a. resulting in loss or damage that would not have been sustained if consideratien building and zoning) that restricts, regulates, prohibits, or relates to: sufficient to qualify the Insured named In Schedule A as a bona fide purchaser I. the occupancy, use, or enjoyment of the Land; had been given for the Title at the Date of Policy. It. the character, dimensions orlocatien of any Improvement on the Land; 4. Any claim, by reason of the operation of federal bankruptcy, state Insolvency or Ili. the subdivision of land; or similar creditors' rights law, that the transaction vesting the Title as shown in Is, envionmental remediation or protection; Schedule A is a: b. any governmental forfeiture, police, regulatory, or national security power a. fraudulent conveyance or fraudulent transfer, or c. the effect of a violation or enforcement of any matter excluded under Exclusion 1.a, or b. voidable transfer under the Uniform Voidable Transactions Act or Lm c. preferential transfer: Exclusion l does net modify -or limit the coverage provided under Covered Risk 5 or 6. I. to (he extent the instrument of transfer vesting the Title as shown in 2. Any power of eminent domain. Exclusion 2 does not modify or limit the coverage -Schedule A Is not a transfer made as a contemporaneous exchange for new provided under Covered Risk 7, value; or - 3. Any defect, lien, encumbrance, adverse claim, or other matter. II. for any other reason not stated in Covered Risk 9,b. a, created, suffered, assumed or agreed to by the Insured Claimant; - 5. Any claim of a PACA-PSA Trust. Exclusion 5 does not modify or limit the coverage b. not known to the Company, not recorded In the Public Records at the Date of Policy, provided under Covered Risk 8. but Known to the Insured Claimant and not disclosed in writing to the Company by 6. Any lien on the Title for real estate (axes or assessments Imposed or collected by a the Insured Claimant prior to the date the Insured Claimant became an Insured under governmental authority that becomes due and payable after the Date of Policy. this policy; Exclusion 6 does not modify or limit the coverage provided under Covered Risk 2.b. c. resulting In no loss or damage to the Insured Claimant; 7. Any discrepancy In the quantity of the area, square footage, or acreage of the Land or - - of any improvement to the Land. , The above policy form may beissued to afford either Standard Coverage or Extended Coverage.. In addition to the above Exclusions from Coverage, the Exceptions from Coverage In a Standard Coverage policy will also Include the following Exceptions from Coverage. SCHEDULE B-GENERAL EXCEPTIONS FROM COVERAGE This policy does not Insure against lass or damage (and the Company will not pay costs, attorneys' fees or expenses) which arise by reason of: 1. Taxes or assessments which are not shown as existing liens by the records of any taxing 4. Any encroachment, encumbrance, violation; variation, or adverse circumstance authority that levies taxes or assessments on real property or by the Public Records; affecting the Title that would be disclosed by an accurate and complete land survey of proceedings by a public agency which may result In taxes or assessments, or notices of the Land. The term "encroachment" Includes encroachments of existing such proceedings, whether or not shown by (he records of such agency or by the Public improvements located on the Land onto adjoining land, and encroachments onto the Records. Land of existing Improvements located on adjoining land. 2. Facts, rights, interests or claims which are not shown by the Public Records but which 5. Any lien for services, labor or material heretofore or hereafter furnished, or for could be ascertained by an Inspection of the Land or by making Inquiry of persons in contributions due to the Stale of Oregon for unemployment compensation or worker's possession thereof. compensation, Imposed by law and not shown by the Public Records. 3. Easements, or claims of easement, not shown by the Public Records; reservations or exceptions in patents or In Acts authorizing the Issuance thereof, water rights, claims or Iitie to water. Preliminary Report (Exhibit One) Printed: 10.31.24 @ 11:33 AM OR-FT-FEUG-01520.471025-SPS1-24-60222303250