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EXHIBIT ONE 2006 AMERICAN LAND TITLE ASSOCIATION LOAN POLICY (06-17-06) 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 expensesthat arise by reason of: 1. (a) Any law, ordinance or governmental regulation (Including but not limited to building and zoning) restricting, regulating, prohibiting or relating to (p the occupancy, use, or enjoyment of the Land; (11) the character, dimensions or location of any improvement erected on the land; (III) the subdivision offend; or (Iv) environmental protection; or the effect of any violation of these laws, ordinances or governmental regulations. This Exclusion 1(a) does not modify or limit the coverage provided under Covered Risk 5. (b) Any governmental police power. This Exclusion 1(b) does not modify or limit the coverage provided under Covered Risk 6. 2. Rights of eminent domain. This Exclusion does not modify or limit the coverage provided under Covered Risk 7 or 8. 3. Defects, liens, encumbrances, adverse claims, or other matters (a) created, suffered, assumed or agreed to by the Insured Claimant; (Id not known to the Company, not recorded in the Public Records at Date of Policy, but known to the Insured Claimant and nol'disclosed in wilting to the Company by the Insured Claimant prior to the date the Insured Claimant became an Insured under this policy; _ (c) resulting In no loss or damage to the Insured Claimant; (d) attaching or created subsequent to Date of Policy (however, this does not modify or limit the coverage provided under Covered Risk 11, 13, or 14); or (a) resulting In loss or damage that would not have been sustained If the Insured Claimant had paid value for the Insured Mortgage, 4. Unenforceabilily, of the Ilan of the Insured Mortgage because of the Inability or failure of an Insured to comply with the applicable doing -business laws of the state where the Lantlis situated. 5. Invalidity or unenforceablllty in whole or In part of the lien of the Insured Mortgage that apses out of the transaction evidenced by the Insured Mortgage and is based upon usury or any consumer credit protection or truth -in -landing law. 6. Any claim, by reason of the operation of federal bankruptcy, state Insolvency or similar creditors' rights laws, that the transaction creating the lien of the Insured Mortgage, is (a) a fraudulent conveyance or fraudulent transfer, or (b) a preferential transfer for any reason not stated in the Covered Risk 13(b) of this policy. 7. Any lien on the Title for real estate taxes or assessments Imposed by governmental authodly, and created or attaching between Date of Policy and the date of recording of the Insured Modgage in. the Public Records: This Exclusion does not modify or II mit the coverage provided under Covered Risk 11 (b. 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 authority that levies taxes or assessments on real property or by the Public Records; proceedings by a public agency which may result in taxes or assessments, or notices of such proceedings, whether or not shown by the records of such agency or by the Public Records. 2. Facts, rights, interests or claims which are not shown by the Public Records but which could be ascertained by an inspection of the Land or by making Inquiry of persons In possession thereof. 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. 4. Any encroachment, encumbrance, violation, variation, or adverse circumstance affecting the Title [hat would be disclosed by an accurate and complete land survey of the Land. The term "encroachment" Includes encroachments of existing Improvements located on the Land onto adjoining land, and encroachments onto the Land of existing improvements located on adjoining land, 5. Any lien for services, labor or material heretofore of hereafter furnished, or for contributions due to the State of Oregon for unemployment compensation or worker's compensation, imposed by law and not shown by the Public Records. 2006 AMERICAN LAND TITLE ASSOCIATION OWNER'S POLICY (06-17-06) EXCLUSIONS FROMCOVERAGE The following matters are expressly excluded from the coverage of this policy and ite Company will not pay lass or damage, costs, attorneys' fees or expenses that arise by reason of: 1. (a) Any law, ordinance or governmental regulation .(Including but not limited to building. and zoning) restricting, regulating, prohibiting or relating to (1) the occupancy, use, or enjoyment of the Land; (iq the character, dimensions or location of any improvement erected an the land; (Iit) the subdivision of land; or (Iv) environmental protection; or the effect of any violation of these laws, ordinances or governmental regulations. This Exclusion 1(a) does not modify or limit the coverage provided under Covered Risk 5, (b) Any governmental police power. This Exclusion 1(b) does not modify or limit the coverage provided under Covered Risk 6. 2. Rights of eminent domain. This Exclusion does not modify or limit the coverage provided under Covered Risk 7 or 3. 3, Defects, liens, encumbrances, adverse claims, or other matters (a) created, suffered, assumed or agreed to by the Insured Claimant; (b) not known to the Company; not recorded in the Public Records at Dale of Policy, but known to the Insured Claimant and not disclosed in writing to the Company by the Insured Claimant prior to the date the Insured Claimant became an Insured under this policy; (c) resulting In no loss or damage to the Insured Claimant;. (d) attaching or created subsequent to Date of Policy (however, this does not modify or limit the coverage provided under Covered Risk 9 and 10); or (6) resulting in loss or damage that would not have been sustained if the Insured Claimant had paid value for the Title. 4. Any claim, by reason of the operation of federal bankruptcy, state insolvency or similar creditors' rights laws, that the transaction creating me lien of the Insured Mortgage, is (a) a fraudulent conveyance or fraudulent transfer, or (b) a preferential transfer for any reason not stated in the Covered Risk 9 of this policy. 7. Any lien on the Title for real estate taxes or assessments Imposed by governmental authority and created or attaching between Date of Policy and the date of recording of the deed or other Instrument of transfer in the Public Records that vests. Title as shown In Schedule A. 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 fallowing Exceptions from Coverage. SCHEDULE B- GENERAL EXCEPTIONS FROM COVERAGE This policy does not Insure against loss or damage (and the Company will not pay casts, 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 4. Any encroachment, encumbrance,'. violation, variation, or adverse circumstance laxing authority that levies taxes or assessments on real property or by the Public affecting the Title that would be disclosed by an accurate and complete land survey of Records; proceedings by a public agency which may result In taxes or assessments, the Land. The term "encroachment" Includes encroachments of existing or notices of such proceedings, whether or not shown by the records of such agency Improvements located on the Land onto adjoining land, and encroachments onto the or by the Public 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 Ilan for services, labor or material heretofore or hereafter furnished, or for could be ascedalned by an inspection of the Land or by making Inquiry of persons In contributions due to the State 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 title to water. Preliminary Report (Exhibit One) Printed: 10.31.24 @ 11:33 AM OR-FT-FEUG-01520.471025-SPS1-24-60222303250