At the beginning of your upkeep, you lose 2 life and exile the top card of your library. You may play that card for as long as it remains exiled. Each noncreature spell you cast from exile has conspire.
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If an effect instructs you to choose a creature type, you may choose Time Lord.
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Neither "Time" nor "Lord" are creature types. Some older cards were printed with the subtype "Lord," but all of those cards have updated Oracle card text that removed that type.
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Unlike other creature types in Magic that are each only one word, the two words "Time Lord" represent a single creature subtype. Time Lord is the only two-word creature type.
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You must pay all costs and follow all normal timing rules for playing a card exiled this way. For example, you may play a land this way only during your main phase while the stack is empty.