HELP Kansas City, MO Closing Protection Letter Waiver

[Matt K.]

I apologize if this is the wrong area to ask but it is a rather urgent request, if it needs to be moved feel free.

My title company is asking me to sign a closing protection letter waiver with both them and the underwriter named. No where did I ask for this and more importantly I am being charged for this letter in the summary of charges they provide (25 dollars).

Is this common practice? But more important I feel that it places all the risk upon me and give me no recourse.

I am not looking for legal advice rather seeking opinion and insight. Or am I blowing this out of proportion. 

See below for waiver letter