FIDELITY NATIONAL TITLE INSURANCE COMPANY · The new policy coverage is ALTA in form (including an...

FIDELITY NATIONAL TITLE INSURANCE

COMPANY

TITLE INSURANCE RATES AND CHARGES FOR THE STATE OF

TENNESSEE

EFFECTIVE: March 31, 2016 (Unless Otherwise Noted Herein)

FIDELITY NATIONAL TITLE INSURANCE COMPANY

State of Tennessee i Effective: March 31, 2016

Table of Contents

All Counties ................................................................................................................... 1

1.0 Master Home Equity Loan Policy ............................................................... 1 2.0 Centralized Refinance Rates ..................................................................... 1 3.0 A.I.R. Rates ............................................................................................... 3 4.0 Title Insurance Rates for ALTA Residential Limited Coverage

Junior Loan Policy Forms and Endorsements Only Insuring "Second" or "Junior" Mortgages ................................................................. 4

5.0 Mortgage Modification Guarantee .............................................................. 4 6.0 Non-Residential Transactions of $15 Million or More ................................ 5 7.0 Reissue Title Insurance Rates for Owner’s Policies, Leasehold

Owner's Policies and ALTA Homeowner’s Policy of Title Insurance .......... 5 8.0 Loan Policy Rates ...................................................................................... 5 8.1 The rate for a standard loan policy insuring a deed of trust secured ......... 5 8.2 The Rate for an ALTA Expanded Coverage Residential Loan Policy ........ 5 9.0 Closing Protection Letters .......................................................................... 6 10.0 ALTA Residential Limited Coverage Mortgage Modification Policy ........... 6

All Counties Except Davidson, Hamilton, Knox, Rutherford , Shelby and Williamson ................................................................................................... 7

1.0 GENERAL .................................................................................................. 8 2.0 ORIGINAL TITLE INSURANCE RATES FOR OWNER'S POLICY,

LEASEHOLD OWNER’S POLICY, ALTA HOMEOWNER’S POLICY OF TITLE INSURANCE, PURCHASE MONEY LOAN POLICY OR LEASEHOLD LOAN POLICY .................................................................... 8

3.0 CONVERSION OF LEASEHOLD POLICIES ............................................. 9 4.0 SIMULTANEOUS ISSUE CHARGES ........................................................ 9 5.0 CONSTRUCTION LOANS ....................................................................... 10 6.0 RISK RATE .............................................................................................. 10

Davidson, Rutherford and Williamson Counties ...................................................... 11

1.0 GENERAL ................................................................................................ 12 2.0 ORIGINAL TITLE INSURANCE RATES FOR OWNER'S POLICY,

LEASEHOLD OWNER’S POLICY, ALTA HOMEOWNER’S POLICY OF TITLE INSURANCE, PURCHASE MONEY LOAN POLICY OR LEASEHOLD LOAN POLICY .................................................................. 12

3.0 SIMULTANEOUS ISSUE CHARGES ...................................................... 13 4.0 CONSTRUCTION LOANS ....................................................................... 14 5.0 CONVERSION OF LEASEHOLD POLICIES ........................................... 14 6.0 RISK RATE .............................................................................................. 14

Hamilton and Knox Counties ..................................................................................... 15

1.0 GENERAL ................................................................................................ 16


State of Tennessee ii Effective: March 31, 2016

2.0 ORIGINAL TITLE INSURANCE RATES FOR OWNER'S POLICY, LEASEHOLD OWNER’S POLICY, ALTA HOMEOWNER’S POLICY OF TITLE INSURANCE, PURCHASE MONEY LOAN POLICY OR LEASEHOLD LOAN POLICY .................................................................. 16

3.0 SIMULTANEOUS ISSUE CHARGES ...................................................... 17 4.0 CONSTRUCTION LOANS ....................................................................... 18 5.0 CONVERSION OF LEASEHOLD POLICIES ........................................... 18 6.0 RISK RATE .............................................................................................. 18

Shelby County ............................................................................................................. 19

1.0 GENERAL ................................................................................................ 20 2.0 ORIGINAL TITLE INSURANCE RATES FOR OWNER'S POLICY,

LEASEHOLD OWNER’S POLICY, ALTA HOMEOWNER’S POLICY OF TITLE INSURANCE, PURCHASE MONEY LOAN POLICY OR LEASEHOLD LOAN POLICY .................................................................. 21

3.0 RISK RATE .............................................................................................. 21 4.0 CONSTRUCTION BINDER RATE ........................................................... 22 5.0 CONVERSION OF LEASEHOLD POLICIES ........................................... 22 6.0 SIMULTANEOUS ISSUE CHARGES ...................................................... 22 7.0 TITLE SEARCHES .................................................................................. 23 8.0 OWNERS AND ENCUMBRANCE REPORTS: ........................................ 23 9.0 ABSTRACTS OF TITLE: .......................................................................... 24 10.0 EXTRA CHAINS OF TITLE: ..................................................................... 24 11.0 CANCELLATION FEE: ............................................................................ 24 12.0 ADDITIONAL CHARGES ......................................................................... 24


State of Tennessee 1 (All Counties) Effective: May 27, 2015

All Counties Miscellaneous Rates

1.0 Master Home Equity Loan Policy

For home equity loan transactions up to $250,000 with centralized order tracking and processing through National Lender’s Solution or similar unit, pursuant to a written agreement, the rate shall be $45.00.

For home equity loan transactions from $250,000 up to $500,000 with centralized order tracking and processing through National Lender’s Solution or similar unit, pursuant to a written agreement, the rate shall be $75.00.

2.0 Centralized Refinance Rates

A. Centralized Refinance Rate I

The charge for a loan policy issued in connection with loan transactions which meet the criteria set forth below shall be as follows:

Amount of Insurance Centralized

Refinance Rate I$1 - $250,000 $360.00

$250,001 - $500,000 $540.00 $500,001 - $750,000 $660.00

$750,001 - $1,000,000 $800.00 $1,000,001 - $1,250,000 $925.00 $1,250,001 - $1,500,000 $1,000.00 $1,500,001 - $2,000,000 $1,075.00 $2,000,001 - $3,000,000 $1,300.00

The Centralized Refinance Rate I applies only to loan transactions which meet the following criteria:

1. The loan is not in excess of $3,000,000.00; 2. The loan is secured by a mortgage or deed of trust encumbering real property

improved with a one-to-four family residential dwelling unit or residential condominium unit;

3. The loan proceeds must be used to refinance an existing loan secured by the same property;

4. Electronic and paperless order opening and electronic and paperless delivery of the preliminary report or commitment; and

5. The new policy coverage is ALTA in form (including an ALTA Loan Policy or ALTA Short Form Residential Loan Policy) with streamlined searching providing for generic exceptions for CC&Rs, easements, minerals, mineral rights or survey matters.



Note 1: Not applicable to construction loans or loan policies issued concurrently with owner’s policies. Note 2: Where the applicable rate(s) and form(s) is filed, or otherwise authorized to be issued, coverages provided under the following endorsements will be included at no additional charge upon request of the lender at the time of policy issuance: ALTA 4-06, ALTA 5-06, ALTA 6-06, ALTA 6.2-06, and ALTA 9-06, ALTA 22-06 and ALTA 28-06. All other endorsements shall be charged in accordance with this manual. Note 3: No agent or underwritten title company may offer this rate unless expressly authorized in writing by the Company’s management to do so for each lender.

B. Centralized Refinance Rate II

The charge for a loan policy issued in connection with loan transactions which meet the criteria set forth below shall be as follows:

Amount of Insurance Centralized

Refinance Rate II $1 - $250,000 $320.00

$250,001 - $500,000 $400.00 $500,001 - $750,000 $460.00

$750,001 - $1,000,000 $520.00 $1,000,001 - $1,250,000 $630.00 $1,250,001 - $1,500,000 $750.00

The Centralized Refinance Rate II applies only to loan transactions which meet the following criteria:

1. The lender must enter into an agreement with either the Company’s

centralized processing units or with an agent or underwritten title company authorized by the Company in writing to offer this rate which specifies, among other matters, a maximum cancellation rate and the methods of order opening and tracking;

2. Electronic and paperless order opening and electronic and paperless delivery of the preliminary report or commitment;

3. The loan is not in excess of $1,500,000.00; 4. The loan is secured by a mortgage or deed of trust encumbering real property

improved with a one-to-four family residential dwelling unit or residential condominium unit;

5. The loan proceeds must be used to refinance an existing loan secured by the same property;

6. The loan transaction must be initiated and coordinated through a centralized point of contact with the originating lender;



7. Orders must be opened with the Company’s centralized processing units or with an agent or underwritten title company authorized by the Company to offer this rate;

8. Cancelled orders must not exceed the maximum cancellation rate established by the Company’s centralized processing units or by an agent or underwritten title company authorized by the Company to offer this rate; and

9. ALTA Short Form Residential Loan Policy must be issued.

Note 1: Not applicable to construction loans or loan policies issued concurrently with owner’s policies. Note 2: There is no additional charge for any endorsements customarily issued concurrently with a policy priced pursuant to this Section when requested at the time of policy issuance. Note 3: In order to offer this rate, an agent or underwritten title company, and any office thereof offering this rate, must have a multi-state presence, must process transactions in a centralized electronic environment, and must perform the management functions otherwise required of the Company’s centralized processing divisions under the provisions of this Section. In addition, no agent or underwritten title company may offer this rate unless expressly authorized in writing by the Company’s management to do so for each lender.

3.0 A.I.R. Rates

For residential refinance transaction where FNAS is to be provided by electronic transmission all necessary information for order placement with reduced manual data entry, with use of a short form policy or master policy and certificate generally in the form of an ALTA Short Form Residential Loan Policy Format of ALTA Master Residential Loan Policy, with standardized exceptions in summary format and order processing and delivery through a centralized platform. Standard endorsements will be included at no additional charge upon request of the lender at the time of policy issuance.

Policy Amount Rate $0 to $250,000 $600.00 $250,001 to $500,000 $750.00 $500,001 to $750,000 $850.00 $750,001 to $1,000,000 $960.00 $1,000,001 to $1,250,000 $1,060.00 $1,250,001 to $1,500,00 $1,160.00


State of Tennessee 4 (All Counties) Effective: July 27, 2015

4.0 Title Insurance Rates for ALTA Residential Limited Coverage Junior Loan Policy Forms and Endorsements Only Insuring "Second" or "Junior" Mortgages

(The word "mortgage" shall be construed to mean any instrument, commonly used in any given jurisdiction to secure a loan on real estate.)

A second or junior mortgage limited coverage loan title policy cannot be issued for less than the full principal debt stated in the insured's mortgage. The policy may only be issued on one-to-four family residential property or a condominium unit.

A limited coverage loan policy expires with the payment or satisfaction of the mortgage described in the policy or endorsements. A new second or junior mortgage given to renew an old second or junior mortgage debt which was covered by limited coverage insurance is a new transaction, creating new liability, and, if insured, carries the rates set forth below.

The rates for ALTA Residential Limited Coverage Junior Loan Policy and ALTA Short Form Residential Limited Coverage Junior Loan Policy only shall be:

(Flat Rate) Up to $50,000 of liability written $235.00 Over $50,000 and up to $100,000 $265.00 Over $100,000 and up to $150,000 $285.00 Over $150,000 but no greater than $500,000 $350.00

ALTA Endorsement Form JR 1 No Charge ALTA Endorsement Form JR 2 No Charge

The above rates apply only to the referenced policy forms and endorsements insuring junior loans on residential one-to-four family property or a condominium unit.

5.0 Mortgage Modification Guarantee

Assures the validity, priority and enforceability of a Recorded Mortgage, if any, has not been diminished or lost by reason of a modification or amendment.

$125.00 Flat Fee. Amount of Liability is the unpaid principal balance of the loan not to exceed $250,000 liability.


State of Tennessee 5 (All Counties) Effective: July 27, 2015

6.0 Non-Residential Transactions of $15 Million or More

Notwithstanding the rates set forth in this manual, the charges for policies where the aggregate amount of insurance or liability is $15,000,000.00 or more may be subject to negotiation and agreement between the Company and the customer. In no event will the negotiated rates be less than the filed rates.

7.0 Reissue Title Insurance Rates for Owner’s Policies, Leasehold Owner's Policies and ALTA Homeowner’s Policy of Title Insurance

When application for an Owner’s Policy, Leasehold Owner’s Policy or an ALTA Homeowner’s Policy of Title Insurance is made within ten (10) years of the effective date of any previous Owner's or Loan policy issued by an approved company, a reissue rate of 70% of the original rate shall be used. The reissue rate is applicable only up to the face amount of the previous policy; the original rates in the applicable bracket or brackets shall be used to compute coverage in excess of the amount of the previous policy. A previous policy is defined as a policy which insures the current owner, lessee or lender. A copy of any previous Owner's or Loan policy must be provided to the Company prior to closing in order for reissue credit to be given. The Company is under no obligation to inquire about or determine whether there is an existing in-force Owner's, Leasehold Owner's, Homeowner’s, Loan, Leasehold Loan or Expanded Loan policy.

All policies issued for which reissue rates are charged shall be subject to the minimum rates set forth for each county.

8.0 Loan Policy Rates

8.1 The rate for a standard loan policy insuring a deed of trust secured by property owned by the borrower or grantor of the deed of trust shall be 70% of the Original Title Insurance Rates for Owner’s and Leasehold Owner’s Policies set forth hereinafter for the applicable County, except that the rate for a loan policy insuring a purchase money deed of trust granted to secure a loan for the purchase of the insured property shall be the Original Title Insurance Rate for Owner’s and Leasehold Owner’s Policies, set forth hereinafter for the applicable County, if an owner’s policy is not issued in the transaction.

8.2 The Rate for an ALTA Expanded Coverage Residential Loan Policy insuring a deed of trust secured by the property owned by the borrower or grantor of the deed of trust shall be 70% of the Original Title Insurance Rate for the ALTA Homeowner’s Policy of Title Insurance set forth hereinafter for the applicable county, except that the rate for a loan policy insuring a purchase money deed of trust granted to secure a loan for the purchase of the insured property shall be the Original Title Insurance Rate for the ALTA Homeowner’s Policy of Title Insurance, set forth hereinafter for the applicable County, if an owner’s policy is not issued in the transaction.


State of Tennessee 6 (All Counties) Effective: March 31, 2016

All policies issued for which the loan policy rates are charged shall be subject to the minimum rates set forth for each county.

9.0 Closing Protection Letters

Closing Protection is available as an option to the parties of the transaction. This protection is apart and separate of the coverage provided under the title insurance policy; however title insurance must be purchased as a condition for closing protection to become an available option. The election for closing protection must be made prior to or at the time of closing. The protection when purchased includes the buyer, lender and seller if it involves a sale/purchase transaction. A fee of $50 per transaction is payable in full to the Underwriter at closing for the additional risk it assumes when providing closing protection. In the event of a second mortgage or HELOC by a lender other than the primary lender, an additional fee of $50.00 would be payable.

10.0 ALTA Residential Limited Coverage Mortgage Modification Policy

The premium charge for shall be:

Policy Amount Rate $ 0-$1,000,000 $125 $ 1,000,001 - $1,500,000 $250 $ 1,500,001 - $2,000,000 $350

For each $500,000 of liability above $2,000,000 or part thereof up to $20,000,000; add $100.


State of Tennessee 7 (All Counties Except Davidson, Hamilton, Knox, Rutherford, Shelby and Williamson) Effective: March 31, 2016

Title Insurance, Schedules of Rates and Other Associated Matters, Applicable to All Counties within the State of Tennessee, with the Exception of Davidson, Hamilton,

Knox, Rutherford, Shelby and Williamson



1.0 GENERAL

1.1 Contained herein are descriptions of the several kinds of title insurance protection available from Fidelity National Title Insurance Company (the "Company”) and the schedules of rates applicable to each.

1.2 The rates quoted are for title insurance only, and do not include fees or charges for abstracts of title, title searches, attorney's fees, escrow or closing-related services charged locally by abstracters, attorneys and title companies.

1.3 In cases involving long and intricate titles, more than one chain of title, extraordinary risk, or coverage beyond the scope of the standard policy, including, but not limited to, the deletion of general exceptions, the Company reserves the right to make additional charges.

1.4 The Company reserves the right to reject any application not satisfactory to it.

1.5 To compute any title insurance premium on a fractional $1,000.00 (except as to minimum premiums) consider any fraction of $1,000.00 as a full $1,000.00.

2.0 ORIGINAL TITLE INSURANCE RATES FOR OWNER'S POLICY, LEASEHOLD OWNER’S POLICY, ALTA HOMEOWNER’S POLICY OF TITLE INSURANCE, PURCHASE MONEY LOAN POLICY OR LEASEHOLD LOAN POLICY

2.1 The following is a schedule of premiums for original owner's, leasehold owner’s, leasehold loan or purchase money loan policy:

Liability Per ThousandFirst $50,000.00 of liability $4.25Over $50,000.00 and up to $100,000.00 $3.50Over $100,000.00 and up to $1,000,000.00 $2.50Over $1,000,000.00 and up to $5,000,000.00 $2.00Over $5,000,000.00 and up to $10,000,000.00 $1.50Over $10,000,000.00 and up to $15,000,000.00 $1.25Over $15,000,000.00 $1.00MINIMUM RATE $150.00

2.2 The ALTA Homeowner’s Policy of Title Insurance or a Purchase Money

ALTA Expanded Coverage Residential Loan Policy rate shall be one hundred and twenty percent (120%) of the applicable rate as set forth above.



3.0 CONVERSION OF LEASEHOLD POLICIES

A lessee who has obtained a leasehold policy issued by the Company insuring his or her lease and thereafter purchased the property shall, within ten (10) years from the date of such previous policy, make application for an owner's policy. Upon surrender of such previous policy, the purchaser shall receive a reissue rate equal to 70% of the original premium amount, with the minimum of each county observed.

4.0 SIMULTANEOUS ISSUE CHARGES

4.1 Owner’s and Loan Policies

When an owner's and loan policy(ies) covering identical land are to be issued simultaneously, the charge for the owner's policy shall be the applicable owner’s rate. The charge for each loan policy simultaneously issued for an amount of coverage not in excess of the owner's liability shall be $35.00. Loan policy liability in excess of the owner's policy liability shall be charged either the Loan Policy rate or the ALTA Expanded Coverage Residential Loan Policy rate.

4.2 Owner's and Leasehold Policies

When owner's and leasehold policies covering identical land are issued simultaneously, the charge for the owner's policy shall be the applicable owner's rate. The charge for each leasehold policy simultaneously issued for an amount of coverage not in excess of the owner’s liability shall be thirty percent (30%) of the original owner’s rate, with the minimum of each county observed. Leasehold policy liability in excess of the owner’s policy liability shall be charged for at original title insurance rates for owner's policies in the applicable bracket or brackets.

4.3 Delayed Owner’s Policies

In the event a purchaser of real property has waived in writing the issuance of an owner's policy simultaneously with a loan policy issued at the time he or she purchased the real property, said purchaser may, within twelve (12) months after the date of the loan policy, request in writing an owner's policy with the same effective date. The charge for this owner's policy will be $35.00 for the amount of coverage not in excess of the aggregate Loan liability (for loans on the same property insured within the previous 12 months) plus any adjustment for the difference between the premium for an owner’s policy and the premium a loan policy. Owner's policy liability in excess of the aggregate Loan liability shall be charged for at original rates for owner's title insurance in the applicable bracket or brackets.



Such owner's policy, if issued, will be subject to any intervening adverse matters affecting the title.

5.0 CONSTRUCTION LOANS

5.1 The Company will, upon request, issue an Interim Title Insurance Construction Binder, good for a period not to exceed two years, in connection with a temporary construction loan for the following charge: $1.00 per $1,000 or fraction thereof, of liability, plus $10.00 Binder Issuance Fee. The “Construction Loan Binder” will be issued only in connection with a temporary and short-term loan for the financing of construction secured by a temporary mortgage or deed of trust, as distinguished from a permanent mortgage or deed of trust securing a permanent loan.

5.2 If the particular policy committed for under the “Construction Loan Binder” is requested, the regular mortgage rates will be applicable. However, after computing the premium at the regular mortgage rate the Company will allow as a credit, the entire charge paid for the “Construction Loan Binder.”

5.3 Should the temporary construction loan be refinanced by a permanent loan and application be made to the Company for a policy insuring the permanent mortgage, no credit will be allowed for the cost of the “Construction Loan Binder” on the premium for the permanent mortgage policy.

6.0 RISK RATE

The risk rate for the purposes of the tax payable under the provisions of Tennessee Code Annotated § 56-35-107, and establishment of the reserves required under Tennessee Code Annotated §§ 56-35-115 and 56-35-116 shall be the gross premium for each policy above.


State of Tennessee 11 (Davidson, Rutherford and Williamson Counties) Effective: March 31, 2016

Title Insurance, Schedules of Rates and Other Associated Matters Applicable to Davidson, Rutherford and Williamson Counties, Tennessee



DAVIDSON, RUTHERFORD AND WILLIAMSON COUNTIES, TENNESSEE 1.0 GENERAL

1.1 Contained herein are descriptions of the several types of title insurance protection offered by Fidelity National Title Insurance Company (the "Company”) and the schedules of rates applicable to each.

1.2 The rates set forth herein are for title insurance only, and do not include fees or charges for legal document preparation, escrow or closing-related services.




2.0 ORIGINAL TITLE INSURANCE RATES FOR OWNER'S POLICY, LEASEHOLD OWNER’S POLICY, ALTA HOMEOWNER’S POLICY OF TITLE INSURANCE, PURCHASE MONEY LOAN POLICY OR LEASEHOLD LOAN POLICY 2.1 The following is a schedule of all-inclusive title insurance premiums for

owner's, leasehold owner’s, leasehold loan or purchase money loan policy:

Liability Per Thousand First $1,000.00 of liability $200.00Over $1,000.00 and up to $100,000.00 $6.00Over $100,000.00 and up to $500,000.00 $4.50Over $500,000.00 and up to $1,000,000.00 $3.00Over $1,000,000.00 and up to $5,000,000.00 $2.00Over $5,000,000.00 and up to $10,000,000.00 $1.50Over $10,000,000.00 and up to $15,000,000.00 $1.25Over $15,000,000.00 $1.00MINIMUM RATE $200.00

2.2 The ALTA Homeowner’s Policy of Title Insurance or a Purchase Money ALTA Expanded Coverage Residential Loan Policy rate shall be one hundred and twenty percent (120%) of the applicable rate as set forth above.









6.0 RISK RATE

The risk rate for the purpose of the tax payable under the provisions of Tennessee Code Annotated §56-35-107, and establishment of the reserves under Tennessee Code Annotated § §56-35-115 and 56-35-116 shall be that portion of the rates established herein which equals the gross premium for each comparable policy filed for all counties except Davidson, Hamilton, Knox, Rutherford, Shelby and Williamson Counties.


State of Tennessee 15 (Hamilton and Knox Counties) Effective: May 27, 2015

Title Insurance, Schedules of Rates and Other Associated Matters Applicable to Hamilton and Knox Counties, Tennessee



HAMILTON AND KNOX COUNTIES, TENNESSEE

1.0 GENERAL

1.1 Contained herein are descriptions of the several types of title insurance protection offered by Fidelity National Title Insurance Company (the "Company”) and the schedules of rates applicable to each.





2.1 The following is a schedule of all-inclusive title insurance premiums for original owner's, leasehold owner’s, leasehold loan or purchase money loan policy:

Liability Per ThousandFirst $1,000.00 of liability $200.00Over $1,000.00 and up to $100,000.00 $6.00Over $100,000.00 and up to $1,000,000.00 $3.00Over $1,000,000.00 and up to $5,000,000.00 $2.00Over $5,000,000.00 and up to $10,000,000.00 $1.50Over $10,000,000.00 and up to $15,000,000.00 $1.25Over $15,000,000.00 $1.00MINIMUM RATE $200.00











6.0 RISK RATE

The risk rate for the purpose of the tax payable under the provisions of Tennessee Code Annotated §56-35-107, and establishment of the reserves under Tennessee Code Annotated § §56-35-115 and 56-35-116 shall be that portion of the rates established herein which equals the gross premium for each comparable policy filed for all counties except Davidson, Hamilton, Knox, Rutherford, Shelby and Williamson Counties.


State of Tennessee 19 (Shelby County) Effective: May 27, 2015

Title Insurance, Schedules of Rates and Other Associated

Matters Applicable to Shelby County, Tennessee



SHELBY COUNTY, TENNESSEE 1.0 GENERAL

1.1 Fidelity National Title Insurance Company (the “Company”) reserves the right to charge a separate fee for providing additional title services upon a customer’s request.

1.2 The rates quoted in Section 2.0 below are for title insurance premium only, and do not include fees or charges for abstract of title, title searches, examination of title, attorney’s fees, escrow or closing-related services charged locally by abstractors, attorneys and title companies.

1.3 In cases involving long and intricate titles, more than one chain of title, extraordinary risk or coverage beyond the scope of the standard policy, including, but not limited to, the deletion of general exceptions, the Company reserves the right to make additional charges.


1.5 Attorneys approved by the Company for use by applicants and whose opinions it insures do not represent the Company and are not its Agents for any purpose; they are not approved for any definite term and may be removed from its list at pleasure.

1.6 No attorneys' fees, abstracter's fees or other charges incurred in the preparation of the title for insurance are borne by the Company, unless provided for herein or ordered by the Company.




2.1 The following is a schedule of premiums for original owner's, owner's, leasehold owner’s, leasehold loan or purchase money loan policy:

Liability Per ThousandFirst $1,000.00 of liability $200.00Over $1,000.00 and up to $100,000.00 $4.00Over $100,000.00 and up to $1,000,000.00 $3.00Over $1,000,000.00 $1.00MINIMUM RATE $200.00



2.3 Cancellation/Withdrawn Charge

In cases cancelled or withdrawn, a charge will be made appropriate to the risk incurred and the work performed, had the policy issued.

2.4 Foreclosure Rate

When the insured mortgagee under a prior policy of title insurance issued by a title insurer satisfactory to the Company acquires title by foreclosure to property insured by said policy, the Company will allow a credit of fifty percent (50%) of the rates in Item 2.1 above, when application is made for an owner’s policy of title insurance issued in favor of said Mortgagee.

3.0 RISK RATE

3.1 The rates set out herein are gross rates for title insurance.

3.2 The risk rate applicable to Shelby County shall be calculated at sixty percent (60%) of these rates for the purpose of establishing appropriate premium taxes and reserves. Risk rate does not include charges for extra-hazardous, special or endorsement related risks.



4.0 CONSTRUCTION BINDER RATE

4.1 A construction loan policy or binder to insure may be issued in connection with a temporary construction or land development loan for one-half the rates provided in 2.1 above.

4.2 At the time the permanent loan policy committed for under such binder is issued, if there is no change in the mortgagor and the binder has not expired, the rate therefore is at the applicable policy rates as set out in 2.1 above. The Company will allow a credit of the lesser of: 1) the amount paid for the construction loan policy or binder or 2) Fifty percent (50%) of the full premium for the new policy, provided the minimum premium for such policy shall be $200.00.







When owner’s and leasehold policies covering identical land are issued simultaneously, the charge for the owner’s policy shall be the applicable owner’s rate. The charge for each leasehold policy simultaneously issued for an amount of coverage not in excess of the owner’s liability shall be thirty percent (30%) of the original owner’s rate as set out in Item 2.1 above, with a minimum of $200.00. Leasehold policy liability in excess of the owner’s policy shall be charged at the original title insurance rate for owner’s policies in the applicable bracket or brackets.




In the event a purchaser of real property has waived in writing the issuance of an owner’s policy simultaneously with a loan policy issued at the time he or she purchased the real property, said purchaser may, within 12 months after the date of the loan policy, request in writing an owner’s policy with the same effective date. The charge for said owner’s policy will be $50.00 for the amount of coverage not in excess of the aggregate loan liability. Owner’s policy liability in excess of the said loan liability shall be charged at the original rates for owner’s title insurance set out in Item 2.1 above.

Such owner’s policy, if issued, will be subject to any intervening or adverse matters affecting the title.

7.0 TITLE SEARCHES

7.1 Base Charges:

7.1.1 Residential $200.00

7.1.2 Commercial $250.00

7.1.3 Environmental Searches $300.00

7.1.4 A fee of up to $5.00 per document may be assessed by the Company on title searches with excessive documents in the chain of title.

7.2 Builders Search (A search covering lot development or construction loan for a developer or builder or for sale by a builder): $50.00

7.3 Court Proceedings: $25.00

7.3.1 The company reserves the right to increase the charge shown above if a court proceeding is complex and requires additional research time.

8.0 OWNERS AND ENCUMBRANCE REPORTS:

8.1 With Tax Information $85.00

8.2 Without Tax Information $75.00



9.0 ABSTRACTS OF TITLE:

9.1 Base Charge:

12.1.1 Residential: $200.00, plus $5.00 per instrument, plus cost of court proceedings as set out above.

12.1.2 Commercial: $250.00, plus $5.00 per instrument, plus cost

for court proceedings, as set out above.

10.0 EXTRA CHAINS OF TITLE:

16.1 For each chain of title in excess of one: $75.00

11.0 CANCELLATION FEE:

17.1 A cancellation fee may be charged on any order where the transaction is not closed.

12.0 ADDITIONAL CHARGES

18.1 The Company reserves the right to make additional charges for searches involving complex or time-consuming matters or extraordinary risks. Charges may be reduced if information is supplied that reduces the time required for the search or the complexity of the search. The Company may add an additional charge for copies of lengthy restrictions or easements. In addition, the Company reserves the right to add an additional charge for searches ordered on a rush basis.

FIDELITY NATIONAL TITLE INSURANCE COMPANY · The new policy coverage is ALTA in form (including an...

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