A06_40647140_APPA_415-18_Title_Binder.pdf

Fidelity National Title Insurance Company File No: VAC001380

Transaction Identification Data for reference only:

Issuing Agent: BridgeTrust Title Group Issuing Office: One Columbus Center, Suite 200, Virginia Beach, VA 23462 Issuing Office's ALTA Registry ID: 0046502 Loan ID Number:

Commitment Number: VAC001380 Property Address: 0 Morgans Mill Road, Bluemont, VA 20135 Issue Date: January 24, 2023 at 12:09 pm

COMMITMENT FOR TITLE INSURANCE

SCHEDULE A

1. Commitment Date: December 5, 2022, 08:00 am

2. Policy to be issued:

(a) ALTA U.S. Policy 9/28/91 (Revised 12/3/12)

Proposed Insured: United States of America

Proposed Policy Amount: $540,000.00

(b) N/A

Proposed Insured:

Proposed Policy Amount:

3. The estate or interest in the Land described or referred to in this Commitment and to be insured is:

Fee Simple

4. The Title is, at the Commitment Date, vested in:

NPT Virginia Parks Projects, LLC

5. The Land is described as follows:

See Exhibit "A" attached hereto and made a part hereof.

Countersigned:

BridgeTrust Title Group One Columbus Center, Suite 200 Virginia Beach, VA 23462 Phone: 757-671-7413 ~ Fax: 800-526-3329

By___________________________________

Authorized Signatory

(With Virginia modifications) Adopted 08-01-2016

Technical Corrections 04-02-2018

This page is only a part of a 2016 ALTA® Commitment for Title Insurance issued by Fidelity National Title Insurance Company. This Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I-Requirements; and Schedule B, Part II-Exceptions; and a counter-signature by the Company or its issuing agent that may be in electronic form.

Copyright 2006-2016 American Land Title Association. All rights reserved. The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited.. Reprinted under license from the American Land Title Association.

EXHIBIT "A"

ALL THAT certain tract or parcel of land, situate on the east side of the Shenandoah River, on the Western slope of the Blue Ridge Mountain, and located in Chapel Magisterial District; Clarke County, Virginia, fronting in the south side of Route 605 about five miles from Virginia Route 7, containing 147.033 acres, according to the plat of survey of Norman B. Ashby land, dated June 25, 1982, made by H. Bruce Edens, Certified Land Surveyor, which, with metes and bounds description thereto, is attached to that certain deed dated October 18, 1982 and recorded among the land records of Clarke County, Virginia in Deed Book 148 at Page 258.

LESS AND EXCEPT that certain tract or parcel of land containing 5.92 acres, more or less, described as follows:

Tract 415-13: All that certain tract or parcel of land lying and being situate in Chapel Magisterial District, Clarke County, Virginia, and being more particularly described as follows;

Beginning at an iron pin in a creek, being a corner common to other lands, now or formerly of Kenneth N. Gilpin, Ill, et al, and subject owner; thence with the property line of said Gilpin, in or near said creek, the following two bearings and distances:

North 10° 45' 45" East, 330.00 feet to an iron pin, and, North 15° 45' 49" West, 564.05 feet to an iron pin, being a corner common to other land formerly of said Gilpin, now lands of the United States of America (Appalachian National Scenic Trail, Tract 415-15) lands formerly of Marie W. Ashby, et al, now lands of the United States of America (Appalachian National Scenic Trail 415-07), lands of said Gilpin and subject owner; thence with the property line of said Government Lands (Tract 415-07), South 86° 33' 52" East 696.74 feet to Appalachian Trail Monument No.

415-VA-15A, being a point on the property line.of said Government Lands (Tract 413-07); thence severing the lands of subject owner, South 36° 11' 38" West, 1022.62 feet to the point of beginning.

Containing 5.92 acres, more or less.

FURTHER LESS AND EXCEPT those areas shown as LOT 1 3.8893 ACRES; LOT 2 3.8506 ACRES; LOT 3 3.9075 ACRES; and 1.2063 ACRES HEREBY DEDICATED FOR PUBLIC STREET PURPOSES on that certain plat entitled "SUBDIVISION PLAT LAND OF JENKINS REAL ESTATE INVESTMENTS, LLC TAX MAP #33-A-6 DEED BOOK 461, PAGE 955 CHAPEL MAGISTERIAL DISTRICT CLARKE COUNTY, VIRGINIA", made by Urban, Ltd., dated March 7, 2011 and recorded in the Clerk's Office of the Circuit Court of Clarke County, Virginia in Plat Book 10 at page 39.

The abovedescribed property is shown as 128.26 +/- ACRES (REMAINDER) on the aforementioned plat recorded in Plat Book 10 at page 39.

SUBJECT TO fifty (50) foot ingress/egress and utility easement(s) as shown and amended on plats recorded in the Clerk's Office of the Circuit Court of Clarke County, Virginia in Plat Book 10 at page 39, in Plat Book 13 at page 55, in Plat Book 13 at page 84 and in Plat Book 14 at page 37.

IT BEING a portion of the property conveyed to Jenkins Real Estate Investments, L.L.C. by Deed of Assumption from Russell W. Jenkins, III and Warren P. Jenkins dated March 31, 2006 and recorded in the Clerk's Office of the Circuit Court of Clarke County, Virginia in Deed Book 461 at page 955.

(With Virginia modifications) Adopted 08-01-2016

Technical Corrections 04-02-2018

This page is only a part of a 2016 ALTA® Commitment for Title Insurance issued by Fidelity National Title Insurance Company. This Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I-Requirements; and Schedule B, Part II-Exceptions; and a counter-signature by the Company or its issuing agent that may be in electronic form.

Copyright 2006-2016 American Land Title Association. All rights reserved. The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited.. Reprinted under license from the American Land Title Association.

COMMITMENT FOR TITLE INSURANCE

SCHEDULE B, PART I

Requirements

All of the following Requirements must be met:

a. The Proposed Insured must notify the Company in writing of the name of any party not referred to in this Commitment who will obtain an interest in the Land or who will make a loan on the Land. The Company may then make additional Requirements or Exceptions.

b. Pay the agreed amount for the estate or interest to be insured.

c. Pay the premiums, fees, and charges for the Policy to the Company.

d. Documents satisfactory to the Company that convey the Title or create the Mortgage to be insured, or both, must be properly authorized, executed, delivered, and recorded in the Public Records.

Proper Warranty Deed from NPT Virginia Parks Projects, LLC, vesting fee simple titlei.

to the aforedescribed property in United States of America.

Receipt of Owner's Affidavit.e.

No recorded deed of trust or mortgage on the subject property was found in a search of the landf.

records. Accordingly, the Company requires receipt of an Affidavit from record owner addressed to the Company, stating that there are no recorded or unrecorded deed(s) of trust, personal notes and/or obligations on the above real estate intended by the mortgagee, lender or noteholder to be paid with closing proceeds.

The Company must be furnished the following as it relates to National Park Trust:g.

i. Certificate of Good Standing in its State of Incorporation and the Commonwealth of Virginia;

ii. Corporate Resolution authorizing the transaction contemplated in this commitment; and

iii. proper corporate authorization for any signatory executing the documents required herein.

Payment of all real estate taxes through the date of closing.h.

(With Virginia modifications) Adopted 08-01-2016

Technical Corrections 04-02-2018

This page is only a part of a 2016 ALTA® Commitment for Title Insurance issued by Fidelity National Title Insurance Company. This Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I-Requirements; and Schedule B, Part II-Exceptions; and a counter-signature by the Company or its issuing agent that may be in electronic form.

Copyright 2006-2016 American Land Title Association. All rights reserved. The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited.. Reprinted under license from the American Land Title Association.

REAL ESTATE TAX INFORMATION

Parcel No. 33-A-6

Land Assessment: $418,800.00 Building Assessment: $0.00 Total Assessment: $418,800.00

Annual Tax: $2,554.68 Semi-Annual Tax: $1,277.34

Paid thru the Second Half of the Calendar Year 2022.

Notice: Please be aware that due to the conflict between federal and state laws concerning the cultivation, distribution, manufacture or sale of marijuana, the Company is not able to close or insure any transaction involving Land that is associated with these activities.

**END OF SCHEDULE B, PART I**

(With Virginia modifications) Adopted 08-01-206

Technical Corrections 04-02-2018

This page is only a part of a 2016 ALTA® Commitment for Title Insurance issued by Fidelity National Title Insurance Company. This Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I-Requirements; and Schedule B, Part II-Exceptions; and a counter-signature by the Company or its issuing agent that may be in electronic form.

Copyright 2006-2016 American Land Title Association. All rights reserved. The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited.. Reprinted under license from the American Land Title Association.

SCHEDULE B, PART II

Exceptions

THIS COMMITMENT DOES NOT REPUBLISH ANY COVENANT, CONDITION, RESTRICTION, OR

LIMITATION CONTAINED IN ANY DOCUMENT REFERRED TO IN THIS COMMITMENT TO THE

EXTENT THAT THE SPECIFIC COVENANT, CONDITION, RESTRICTION, OR LIMITATION VIOLATES

STATE OR FEDERAL LAW BASED ON RACE, COLOR, RELIGION, SEX, SEXUAL ORIENTATION,

GENDER IDENTITY, HANDICAP, FAMILIAL STATUS, OR NATIONAL ORIGIN.

The Policy will not insure against loss or damage resulting from the terms and provisions of any lease or easement identified in Schedule A, and will include the following Exceptions unless cleared to the satisfaction of the Company, including any defect, lien, encumbrance, adverse claim, or other matter that appears for the first time in the Public Records or is created, attaches, or is disclosed between the Commitment Date and the date on which all of the Schedule B, Part I-Requirements are met.

Easement to Virginia Electric and Power Company recorded in the Clerk's Office of the Circuit1.

Court of Clarke County, Virginia in Deed Book 49 at page 142.

Easement to the United States of America recorded in the Clerk's Office of the Circuit Court of2.

Clarke County, Virginia in Deed Book 51 at page 263.

Easement to Northern Virginia Power Company recorded in the Clerk's Office of the Circuit Court3.

of Clarke County, Virginia in Deed Book 80 at page 186.

Easement to Potomac Edison recorded in the Clerk's Office of the Circuit Court of Clarke County,4.

Virginia in Deed Book 99 at page 473.

Easement to Chesapeake and Potomac Telephone Company recorded in the Clerk's Office of the5.

Circuit Court of Clarke County, Virginia in Deed Book 160 at page 775.

Terms, conditions, agreements, easements and obligations contained in that Deed recorded in the6.

Clerk's Office of the Circuit Court of Clarke County, Virginia in Deed Book 540 at page 494.

Terms, conditions, agreements, easements and obligations contained in that Road Maintenance7.

Agreement recorded in the Clerk's Office of the Circuit Court of Clarke County, Virginia in Deed Book 663 at page 58.

Easement to Northern Virginia Electric Cooperative recorded in the Clerk's Office of the Circuit8.

Court of Clarke County, Virginia in Deed Book 667 at page 99.

Fifty (50) foot ingress/egress and utility easement(s) as shown and amended on plats recorded in the9.

Clerk's Office of the Circuit Court of Clarke County, Virginia in Plat Book 10 at page 39, in Plat Book 13 at page 55, in Plat Book 13 at page 84 and in Plat Book 14 at page 37, with terms and restrictions noted thereon.

(With Virginia modifications) Adopted 08-01-2016

Technical Corrections 04-02-2018

This page is only a part of a 2016 ALTA® Commitment for Title Insurance issued by Fidelity National Title Insurance Company. This Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I-Requirements; and Schedule B, Part II-Exceptions; and a counter-signature by the Company or its issuing agent that may be in electronic form.

Copyright 2006-2016 American Land Title Association. All rights reserved. The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited.. Reprinted under license from the American Land Title Association.

Any encroachment, encumbrance, violation, variation, or adverse circumstance that would be10.

disclosed by an accurate and complete land survey of the Land.

Reference to the quantity of acreage is for descriptive purposes only and the policy will not insure as11.

to quantity of acreage nor to the accuracy of the computation thereof.

Rights of tenants in possession under unrecorded leases.12.

**END OF SCHEDULE B, PART II**

(With Virginia modifications) Adopted 08-01-206

Technical Corrections 04-02-2018

This page is only a part of a 2016 ALTA® Commitment for Title Insurance issued by Fidelity National Title Insurance Company. This Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I-Requirements; and Schedule B, Part II-Exceptions; and a counter-signature by the Company or its issuing agent that may be in electronic form.

Copyright 2006-2016 American Land Title Association. All rights reserved. The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited.. Reprinted under license from the American Land Title Association.

COMMITMENT FOR TITLE INSURANCE

ISSUED BY

Fidelity National Title Insurance Company

NOTICE

IMPORTANT-READ CAREFULLY: THIS COMMITMENT IS AN OFFER TO ISSUE ONE OR MORE TITLE

INSURANCE POLICIES. ALL CLAIMS OR REMEDIES SOUGHT AGAINST THE COMPANY INVOLVING

THE CONTENT OF THIS COMMITMENT OR THE POLICY MUST BE BASED SOLELY IN CONTRACT.

THIS COMMITMENT IS NOT AN ABSTRACT OF TITLE, REPORT OF THE CONDITION OF TITLE, LEGAL

OPINION, OPINION OF TITLE, OR OTHER REPRESENTATION OF THE STATUS OF TITLE. THE

PROCEDURES USED BY THE COMPANY TO DETERMINE INSURABILITY OF THE TITLE, INCLUDING

ANY SEARCH AND EXAMINATION, ARE PROPRIETARY TO THE COMPANY, WERE PERFORMED

SOLELY FOR THE BENEFIT OF THE COMPANY, AND CREATE NO EXTRACONTRACTUAL LIABILITY TO

ANY PERSON, INCLUDING A PROPOSED INSURED.

THE COMPANY'S OBLIGATION UNDER THIS COMMITMENT IS TO ISSUE A POLICY TO A PROPOSED

INSURED IDENTIFIED IN SCHEDULE A IN ACCORDANCE WITH THE TERMS AND PROVISIONS OF

THIS COMMITMENT. THE COMPANY HAS NO LIABILITY OR OBLIGATION INVOLVING THE CONTENT

OF THIS COMMITMENT TO ANY OTHER PERSON.

COMMITMENT TO ISSUE POLICY

Subject to the Notice; Schedule B, Part I-Requirements; Schedule B, Part II-Exceptions; and the Commitment Conditions, Fidelity National Title Insurance Company, a Florida corporation (the “Company”), commits to issue the Policy according to the terms and provisions of this Commitment. This Commitment is effective as of the Commitment Date shown in Schedule A for each Policy described in Schedule A, only when the Company has entered in Schedule A both the specified dollar amount as the Proposed Policy Amount and the name of the Proposed Insured.

If all of the Schedule B, Part I-Requirements have not been met within six (6) months after the Commitment Date, this Commitment terminates and the Company's liability and obligation end.

COMMITMENT CONDITIONS

DEFINITIONS1.

“Knowledge” or “Known”: Actual or imputed knowledge, but not constructive notice imparted(a) by the Public Records.

“Land”: The land described in Schedule A and affixed improvements that by law constitute(b) real property. The term “Land” does not include any property beyond the lines of the area described in Schedule A, nor any right, title, interest, estate, or easement in abutting streets, roads, avenues, alleys, lanes, ways, or waterways, but this does not modify or limit the extent that a right of access to and from the Land is to be insured by the Policy.

“Mortgage”: A mortgage, deed of trust, or other security instrument, including one evidenced(c) by electronic means authorized by law.

“Policy”: Each contract of title insurance, in a form adopted by the American Land Title(d) Association, issued or to be issued by the Company pursuant to this Commitment.

Adopted 08-01-2016 Technical Corrections 04-02-2018

This page is only a part of a 2016 ALTA® Commitment for Title Insurance issued by Fidelity National Title Insurance Company. This Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I-Requirements; and Schedule B, Part II-Exceptions; and a counter-signature by the Company or its issuing agent that may be in electronic form.

Copyright 2006-2016 American Land Title Association. All rights reserved. The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited.. Reprinted under license from the American Land Title Association.

“Proposed Insured”: Each person identified in Schedule A as the Proposed Insured of each(e) Policy to be issued pursuant to this Commitment.

“Proposed Policy Amount”: Each dollar amount specified in Schedule A as the Proposed(f) Policy Amount of each Policy to be issued pursuant to this Commitment.

“Public Records”: Records established under state statutes at the Commitment Date for the(g) purpose of imparting constructive notice of matters relating to real property to purchasers for value and without Knowledge.

“Title”: The estate or interest described in Schedule A.(h)

2. If all of the Schedule B, Part I-Requirements have not been met within the time period specified in the Commitment to Issue Policy, this Commitment terminates and the Company's liability and obligation end.

3. The Company's liability and obligation is limited by and this Commitment is not valid without:

(a) the Notice;

(b) the Commitment to Issue Policy;

(c) the Commitment Conditions;

(d) Schedule A;

(e) Schedule B, Part I-Requirements;

(f) Schedule B, Part II-Exceptions; and

(g) a counter-signature by the Company or its issuing agent that may be in electronic form.

4. COMPANY'S RIGHT TO AMEND

The Company may amend this Commitment at any time. If the Company amends this Commitment to add a defect, lien, encumbrance, adverse claim, or other matter recorded in the Public Records prior to the Commitment Date, any liability of the Company is limited by Commitment Condition 5. The Company shall not be liable for any other amendment to this Commitment.

5. LIMITATIONS OF LIABILITY

(a) The Company's liability under Commitment Condition 4 is limited to the Proposed Insured's actual expense incurred in the interval between the Company's delivery to the Proposed Insured of the Commitment and the delivery of the amended Commitment, resulting from the Proposed Insured's good faith reliance to:

(i) comply with the Schedule B, Part I-Requirements;

(ii) eliminate, with the Company's written consent, any Schedule B, Part II-Exceptions; or

(iii) acquire the Title or create the Mortgage covered by this Commitment.

(b) The Company shall not be liable under Commitment Condition 5(a) if the Proposed Insured requested the amendment or had Knowledge of the matter and did not notify the Company about it in writing.

(c) The Company will only have liability under Commitment Condition 4 if the Proposed Insured would not have incurred the expense had the Commitment included the added matter when the Commitment was first delivered to the Proposed Insured.

(d) The Company's liability shall not exceed the lesser of the Proposed Insured's actual expense incurred in good faith and described in Commitment Conditions 5(a)(i) through 5(a)(iii) or the Proposed Policy Amount.

(e) The Company shall not be liable for the content of the Transaction Identification Data, if any.

(f) In no event shall the Company be obligated to issue the Policy referred to in this Commitment unless all of the Schedule B, Part I-Requirements have been met to the satisfaction of the Company.

(g) In any event, the Company's liability is limited by the terms and provisions of the Policy.

6. LIABILITY OF THE COMPANY MUST BE BASED ON THIS COMMITMENT

(With Virginia modifications) Adopted 08-01-2016

Technical Corrections 04-02-2018

This page is only a part of a 2016 ALTA® Commitment for Title Insurance issued by Fidelity National Title Insurance Company. This Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I-Requirements; and Schedule B, Part II-Exceptions; and a counter-signature by the Company or its issuing agent that may be in electronic form.

Copyright 2006-2016 American Land Title Association. All rights reserved. The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited.. Reprinted under license from the American Land Title Association.

(a) Only a Proposed Insured identified in Schedule A, and no other person, may make a claim under this Commitment.

(b) Any claim must be based in contract and must be restricted solely to the terms and provisions of this Commitment.

(c) Until the Policy is issued, this Commitment, as last revised, is the exclusive and entire agreement between the parties with respect to the subject matter of this Commitment and supersedes all prior commitment negotiations, representations, and proposals of any kind, whether written or oral, express or implied, relating to the subject matter of this Commitment.

(d) The deletion or modification of any Schedule B, Part II-Exception does not constitute an agreement or obligation to provide coverage beyond the terms and provisions of this Commitment or the Policy.

(e) Any amendment or endorsement to this Commitment must be in writing .

(f) When the Policy is issued, all liability and obligation under this Commitment will end and the

Company's only liability will be under the Policy.

7. IF THIS COMMITMENT HAS BEEN ISSUED BY AN ISSUING AGENT

The issuing agent is the Company's agent only for the limited purpose of issuing title insurance commitments and policies. The issuing agent is not the Company's agent for the purpose of providing closing or settlement services.

8. PRO-FORMA POLICY

The Company may provide, at the request of a Proposed Insured, a pro-forma policy illustrating the coverage that the Company may provide. A pro-forma policy neither reflects the status of Title at the time that the pro-forma policy is delivered to a Proposed Insured, nor is it a commitment to insure.

(With Virginia modifications) Adopted 08-01-2016

Technical Corrections 04-02-2018

This page is only a part of a 2016 ALTA® Commitment for Title Insurance issued by Fidelity National Title Insurance Company. This Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I-Requirements; and Schedule B, Part II-Exceptions; and a counter-signature by the Company or its issuing agent that may be in electronic form.

Copyright 2006-2016 American Land Title Association. All rights reserved. The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited.. Reprinted under license from the American Land Title Association.