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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 e. resulting in loss or damage that would not have been sustained If consideration reason of: sufficient to qualify the Insured named in Schedule A as a bona fide purchaser or 1. a. any law, ordinance, permit, or governmental regulation (including those relating to encumbrancer had been given for the Insured Mortgage at the Date of Policy. 4. Unenforceabllity of the lien of the Insured Mortgage because of the inability or failure building and zoning) that restricts, regulates, prohibits, or relates to: of an Insured to comply with applicable doing -business law. t. the occupancy, use, or enjoyment of the Land; 5. Invalidity or unenforceabllity of the lien of the Insured Mortgage that arises out of the IL the character, dimensions, or location of any Improvement on the Land; transaction evidenced by the Insured Mortgage and Is based upon usury or Consumer III. the subdivision of land; or Protection Law. Is. environmental rerredlation or protection. 6. Any claim, by reason of the operation of federal bankruptcy, state Insolvency, or b, any governmental forfeiture, police, regulatory, or national security power. similar creditors' rights law, that the transaction creating the lien of the Insured c. the effect of a violation or enforcement of any matter excluded under Exclusion 1.a, or Mortgage Is a: - 1.b. 2. Any power of eminent domain. Exclusion 2 does not modify or limit the coverage a. fraudulent conveyance orfrauduient transfer; b. voidable transfer under the Uniform Voidable Transactions Act; or provided under Covered Risk 7. c. preferential transfer: 3. Any defect, lien, encumbrance, adverse claim, or other matter: a. created, suffered, assumed, or agreed to by the Insured Claimant; I. to the extend the Insured Mortgage Is not a transfer made as a b. not Known to the Company, not recorded In the Public Records at the Date of Policy, - contemporaneous exchange for new value; or It. for any reason not staled in the Covered Risk 13.1, - - but Known to the Insured Claimant and not disclosed in writing to the Company by -7. Any claim of a PACA-PSA Trust. Exclusion 7 does not modify or limit the coverage the Insured Claimant prior to the date the Insured Claimant became an Insured under provided under Covered Risk 8. this policy; - c. resulting in no loss or damage to the Insured Claimant; 8. Any lien on the Title for real estate lazes or assessments Imposed by a governmental ' authority and created or attaching between the Dale_ of Policy and the date of d:attaching or created subsequent to the Date of Policy (Exclusion 3.d. does not modify or limit the coverage Covered Risk recording of the Insured Mortgage In the Public Records. Exclusion 8 does not modify provided under 11, 13, or 14); or _ or limit the coverage provided under Covered Risk 2.1h. or 11.b. 9. 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 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 Ilan by the records of any taxing. authority that levies taxes or assessments on real property or by the Public Records; 4. Any encroachment, encumbrance, violation, variation, or adverse circumstance 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 on the Land onto adjoining land, and encroachments onto the Records. 2. Facts, rights, Interests or claims which are not shown by the Public Records but which Land of existing improvements located on adjoining land. 5. Any lien for sendces, 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 Slate of Oregon for unemployment compensation or worker's possession thereof. 3, Easements, or claims of easement, not shown by the Public Records; reservations or compensation, imposed by law and not shown by the Public Records. exceptions in patents or in Acts authorizing the issuance thereof, water rights, claims or fide 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 Dale 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 building and zoning) that restricts, regulates, prohibits, orrelates to: e. resulting In loss or damage that would not have been sustained if consideration h the occupancy, use, or enjoyment of the Land; sufficient to quality the Insured named in Schedule A as a bona title purchaser had been given for the Title at the Date of Policy. II. the character, dimensions or location of any improvement on the Land; 4. Any claim, by .reason of the operation of federal bankruptcy, state Insolvency or III. the subdivision of land; or iv. environmental remediallonor protection; - similar creditors' rights law, that the transaction vesting the Title as shown In 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 i.a. or b. voidable lransfer under the Uniform Voidable Transactions Act; or 1.b. Exclusion 1 does not modify or limit the coverage provided under Covered Risk 5 or 6. c. preferential transfer: I. to the 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 slated in Covered Risk 9.1h. a. created, suffered, assumed or agreed to by the Insured Claimant; is, not known to the Company, not recorded In the Public Records at the Date of Policy, - 5. Any clnlm of a PACA-PSA Trust. Exclusion 5 does not modify or limit Ole coverage 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 Tide for real estate taxes or assessments imposed or collected by a the Insured Claimant prior to the dale the Insured Claimant became an Insured under governmental authority that becomes due and payable after the Date of Policy. this policy; - c, resulting in no loss or damage to the Insured Claimant; Exclusion 6 does not modify or limit the coverage provided under Covered Risk 2.b. 7. Any discrepancy in the quantity of the area, square footage, or acreage of the Land or of any Improvement to the Land. - The shove 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; 4. Any encroachment, encumbrance, Vanden, variation, or adverse' clmumsel 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 such proceedings, whether or not shown by the records of such agency or by the Public the Land. The term "encroachment' Includes encroachments of existing Records. - Improvements located on the Land onto adjoining land, and encroachments onto the 2. Facts, rights, interests or claims which are not shown by the Public Records but which Land of existing Improvements located on adjoining land. 5. Any lien for services, labor or materiel 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. 3. Easements, or claims of easement, not shown by the Public Records; reservations or compensation, imposed by law and not shown by the Public Records. 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 Q 11:33 AM OR-FT-FEUG-01520.471025-SPSi-24-60222303250