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FIRST AMERICAN TITLE INSURANCE COMPANY <br /> Policy No. 201500290CAF <br /> 190. <br /> 10. Declaration of Easement for Sewer Lift Station/Sewer Pump Station recorded in Book <br /> 4161 at Page 195. <br /> 11. Lease to the Orange County Board of Education, recorded in Book 4014 at Page 45; <br /> subordinated by Lease Modification and Subordination Agreement with the Orange County <br /> Board of Education recorded in Book 5972 at Page 592. <br /> 12. Any encroachment, encumbrance, violation, variation, or adverse circumstance <br /> affecting the Title that would be disclosed by an accurate and complete land survey of the <br /> Land. The term "encroachment" includes encroachments of existing improvements located on <br /> the Land onto adjoining land, and encroachments onto the Land of existing improvements <br /> located on adjoining land. Paragraph 2 (c) of the Covered Risks is hereby deleted. NOTE: <br /> Upon receipt of satisfactory plat of survey and surveyor's report, this exception will be <br /> eliminated or amended in accordance with the facts disclosed thereby. <br /> AFFIRMATIVE INSURED CLOSING PROTECTION COVERAGE PROVIDED - As to the transaction for which <br /> this binder and/or policy is issued, the Company affords insured closing protection as <br /> described in the North Carolina Insured Closing Protection Letter (NCTIRB-01-2003) to the <br /> Proposed and/or Insured Lender and its successors and/or the Proposed and/or Insured <br /> Owner. Said letter is incorporated herein in its entirety. The approved attorney is the <br /> Closing Attorney referenced above. Claims under such letter shall be made promptly to the <br /> Company at its claims office at P.O. Drawer 2637, Chapel Hill, NC 27515 <br /> The Land described in Schedule A number 4 is encumbered by the following <br /> mortgage (s) , if any: <br /> DEED OF TRUST AND SECURITY AGREEMENT FROM ORANGE COUNTY, NORTH CAROLINA, A <br /> POLITICAL SUBDIVISION OF THE STATE OF NORTH CAROLINA, TO REBECCA S. CHAFFIN, <br /> TRUSTEE(S) FOR ORANGE COUNTY PUBLIC FACILITIES COMPANY, DATED JUNE 1, 2015, <br /> AND RECORDED JUNE 25, 2015, AT 9:17:39 AM IN BOOK 005972 AT PAGE 000576, <br /> ORANGE COUNTY REGISTRY, NC, TO SECURE A NOTE OF $20,110,000. 00. <br /> FATIC-517 Page 3 <br />